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{yoogallery src=[images/stories/december14sinatra]}
The 1951 house in Chatsworth, California where Frank Sinatra once lived has been publicly listed for the first time in its 60-year history. 
Dora Hutchinson, heir to the Chase Manhattan Bank fortune, commissioned Pereira &amp; Luckman architects to build the house in the late 1940s, and it was finished in 1951. 
Sinatra lived in the four-bedroom house, called Farralone, and threw lavish star-studded parties with guests including Lucille Ball, Ava Gardner and Marilyn Monroe. The standalone guest house with its own pool was reputedly the site of rendezvous between Monroe and President John F. Kennedy.
"If walls could talk, this house has had more celebrities in it than just about any other house in Los Angeles," says Coldwell Banker Previews listing agent Lynn Teschner.
Judy Garland and Vincent Minelli renewed their wedding vows on the 5.6-hectare grounds, and Monroe's last photoshoot was at the property's pool. The grounds include an incipient vineyard and horse riding trails, and the property can accommodate 200 cars. 
Teschner <a target="_blank" href="https://www.farraloneestate.com/">is marketing the property</a> with price hopes of US$12 million.
 
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cknowlton-QnEa6ntUYP

Frank Sinatra's former home on the market for the first time

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Ratings agency Moody's says Australia's housing prices and mortgage debt levels are "arguably at unsustainable levels", and says prices may tumble either in the short-term – if the European debt crisis worsens – or in the medium-term, as default and delinquent rates rise.

Moody's lead analyst for the mortgage insurance sector, Ilya Serov, says the "combination of elevated house prices and unprecedented household indebtedness warrant in our opinion a degree of caution".
"The degree of sensitivity of the housing market to a serious economic downturn, given these two factors, has not been tested. We believe it could be materially higher than in previous historical episodes," he says.
"The recent experience of the US and certain European countries serves a useful cautionary reminder."
Describing the data on the sustainability of Australian housing prices as "ambiguous", Moody's says its baseline expectation is "that of further declines, both in the short- and medium-term".
According to Serov, challenges include:
<ul>
<li>Australia's reliance on resources.</li>
<li>Australia's banks reliance on external wholesale funding.</li>
<li>The high Australian dollar pressuring other sectors such as tourism and retail. He says: "Should these trends persist, default and delinquency rates in the mortgage market are likely to be variably regionally and increase in the next decade."</li>
</ul>
Serov notes that capital-city prices have quadrupled and household indebtedness tripled in the past 20 years.
"The market is undergoing a (to date) mild correction with a decline of approximately 4% off peak values nation-wide and up to 9.5% in Brisbane," Serov writes.
"Housing credit growth has fallen to around a third of pre-crisis levels. Our baseline expectation is that of further declines, both in the short and medium term."
Serov says although he expects economic conditions to remain supportive in 2012, the "potential for contagion from the Eurozone crisis represents a material downside risk".
He adds that although the jury is out on whether the European sovereign crisis will drive economic weakness and provide a shock to the local financial sector, Australia's reliance on resources and the dependence of local banks on wholesale funding "increase the Australian economy's sensitivity to exogenous shocks".
Moody's further notes that the "excellent performance of Australian mortgage loans to date is beginning to be challenged, with 30 days past due delinquencies reaching their highest value of 1.76% in May 2011" – versus the 1% recorded prior to 2005.
Serov put the Australian mortgage insurance sector – dominated by QBE LMI and Genworth Financial ¬– on outlook negative, citing concerns about the "medium-term performance of the country's housing market".
The report comes as The Age reports that Australia's big banks have been working on a contingency plan to ensure funding lines stay open should the Eurozone break up.
The newspaper says chief financial officers at the banks are understood to have updated their internal risk models, raise liquid-asset levels and reopened private funding placement channels with large investors in Asia.
This article originally appeared on<a href="https://www.smartcompany.com.au/index.php" target="_blank"> SmartCompany</a>.
 
 
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House prices “arguably at unsustainable levels”: Moody's 

<html><body>
<table width="303" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="bottom" nowrap width="69">
Postcode
</td>
<td valign="bottom" nowrap width="113">
Suburb
</td>
<td valign="bottom" nowrap width="121">
Median unit price
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4560
</td>
<td valign="bottom" nowrap width="113">
NAMBOUR
</td>
<td valign="bottom" nowrap width="121">
$235,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4551
</td>
<td valign="bottom" nowrap width="113">
BATTERY HILL
</td>
<td valign="bottom" nowrap width="121">
$250,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4557
</td>
<td valign="bottom" nowrap width="113">
MOUNTAIN CREEK
</td>
<td valign="bottom" nowrap width="121">
$257,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4551
</td>
<td valign="bottom" nowrap width="113">
GOLDEN BEACH
</td>
<td valign="bottom" nowrap width="121">
$257,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4564
</td>
<td valign="bottom" nowrap width="113">
PACIFIC PARADISE
</td>
<td valign="bottom" nowrap width="121">
$287,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4575
</td>
<td valign="bottom" nowrap width="113">
WARANA
</td>
<td valign="bottom" nowrap width="121">
$287,500
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4575
</td>
<td valign="bottom" nowrap width="113">
MINYAMA
</td>
<td valign="bottom" nowrap width="121">
$289,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4556
</td>
<td valign="bottom" nowrap width="113">
KUNDA PARK
</td>
<td valign="bottom" nowrap width="121">
$290,747
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4565
</td>
<td valign="bottom" nowrap width="113">
TEWANTIN
</td>
<td valign="bottom" nowrap width="121">
$291,000
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="69">
4575
</td>
<td valign="bottom" nowrap width="113">
WURTULLA
</td>
<td valign="bottom" nowrap width="121">
$293,500
</td>
</tr>
</tbody></table>
 Source: RP Data
 
 
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The 10 cheapest suburbs on the Sunshine Coast for units: RP Data

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{yoogallery src=[images/stories/december13renee]}
Academy Award-winning actress Renee Zellweger has listed her four-bedroom, three-bathroom property in the Connecticut town of Pomfret with price hopes of US$1.5 million.
Zellweger bought the 16-hectare property, which she used as a holiday house, in November 2004 for $1.32 million and has renovated an updated it. In addition to the main house the property includes a separate guest quarters and a barn, now used as an entertainment area. 
It is being marketed by <a target="_blank" href="https://www.coldwellbankermoves.com/property/details/2796922/MLS-M9131773/Pomfret-CT-06259.aspx">Coldwell Banker</a> agent Jonathan Radford.
In the property's marketing, Zellweger enthuses about the town of Pomfret.
"Socially, architecturally and aesthetically, Pomfret is the embodiment of the old-fashioned American small town while it is simultaneously a culturally rich and sophisticated community," she says.
"The seasons and landscapes are breathtaking, the quality of life and festive celebrations are of bygone days, and you'll make more friends in Pomfret within weeks than you would during a lifetime in most other places." 
Zellweger, whose breakout role was in the Tom Cruise vehicle Jerry Maguire, won an Oscar in 2003 for her performance in Cold Mountain. She also reportedly owns a house in the Hollywood Hills.
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Renee Zellweger lists in Connecticut

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Australia's ageing pool of workers need greater flexibility to ensure they can stay in work, a report into senior Australians says, adding that housing needs an "urgent shake-up" to cope with looming demographic changes.

A report released yesterday entitled Realising the economic potential of senior Australians notes that the percentage of Australians aged over 55 is expected to rise to nearly 20% by 2050, up from 16% nowadays.
"While participation rates for people over 55 have risen significantly, barriers still inhibit older workers' participation," the report, written by the Panel on the Economic Potential of Senior Australians, says.
"These barriers directly affect the living standards of Australians, with the cost of not using the skills and experience of older Australians already at an estimated $10.8 billion a year."
"These barriers also directly affect the ability of individuals to contribute, with two million older Australians outside the workforce wanting to work, some because of financial necessity."
But the report - written by National Seniors Australia chair Everald Compton, former deputy Prime Minister Brian Howe, and Professor Gill Lewin - says the country's shift to a knowledge-edge based company, from a manual-based society, leaves Australians better placed to work longer.
"This move away from physically demanding work opens up more opportunities for older workers. It coincides with a looming skills shortage in key industries (mining, construction and services), increasing the opportunity for older workers to retrain for new careers or to backfill in sectors depleted by the movement of more mobile workers," the report says.
It also praises the increase in the retirement age to 67 and the removal of the age limit on superannuation guarantees as developments likely to keep older workers in paid work – although this shift requires support from industry, employers and governments.
The report recommends:
<ul>
<li>Extending flexible work arrangements for people aged 55 and over, allowing this group great time for volunteering and babysitting commitments, for example.</li>
<li>Looking at the affordability of income protection for people over 60.</li>
<li>Appointing a cabinet minister for maximising the potential of the ageing population.</li>
<li>Increasing housing supply by removing stamp duty.</li>
<li>Reviewing planning regulations and removing regulatory impediments to new developments and promote greater mobility.</li>
<li>Reviewing how income payments affect seniors' housing decisions.</li>
<li>Get governments to embed age diversity within workforce.</li>
</ul>
Speaking on the prospect of abolishing stamp duty after the report was released, Treasurer Wayne Swan said he was meeting with state treasurers to discuss state taxes.
"If there are impediments in the tax and transfer system that stop older Australians from contributing to the labour force, we should do something about that," Swan added.
He also called on business to "recruit many of those greying Australians who are looking for a job but have had difficulty getting one."
This article originally appeared on<a href="https://www.smartcompany.com.au/index.php" target="_blank"> SmartCompany</a>.
 
 
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Housing needs “urgent shakeup”, and older workers need more flexibility: Report

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<table border="1" cellspacing="0" cellpadding="0" width="385"><tbody>
<tr>
<td width="64" nowrap valign="bottom">
Postcode
</td>
<td width="228" nowrap valign="bottom">
Suburb
</td>
<td width="93" nowrap valign="bottom">
Median house price
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
820
</td>
<td width="228" nowrap valign="bottom">
<a target="_blank" href="/news">BAYVIEW</a>
</td>
<td width="93" nowrap valign="bottom">
$1.215,000
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
820
</td>
<td width="228" nowrap valign="bottom">
<a target="_blank" href="/news">FANNIE BAY</a>
</td>
<td width="93" nowrap valign="bottom">
$883,000
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
820
</td>
<td width="228" nowrap valign="bottom">
<a target="_blank" href="/news">PARAP</a>
</td>
<td width="93" nowrap valign="bottom">
$805,000
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
810
</td>
<td width="228" nowrap valign="bottom">
<a target="_blank" href="/news">LYONS</a>
</td>
<td width="93" nowrap valign="bottom">
$775,000
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
810
</td>
<td width="228" nowrap valign="bottom">
<a target="_blank" href="/news">NIGHTCLIFF</a>
</td>
<td width="93" nowrap valign="bottom">
$759,500
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
820
</td>
<td width="228" nowrap valign="bottom">
<a target="_blank" href="/news">STUART PARK</a>
</td>
<td width="93" nowrap valign="bottom">
$700,000
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
812
</td>
<td width="228" nowrap valign="bottom">
<a target="_blank" href="/news">MARRARA</a>
</td>
<td width="93" nowrap valign="bottom">
$690,000
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
810
</td>
<td width="228" nowrap valign="bottom">
<a target="_blank" href="/news">RAPID CREEK</a>
</td>
<td width="93" nowrap valign="bottom">
$660,000
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
810
</td>
<td width="228" nowrap valign="bottom">
<a target="_blank" href="/news">JINGILI</a>
</td>
<td width="93" nowrap valign="bottom">
$585,000
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
812
</td>
<td width="228" nowrap valign="bottom">
<a target="_blank" href="/news">LEANYER</a>
</td>
<td width="93" nowrap valign="bottom">
$575,000
</td>
</tr>
</tbody></table>
Source: RP Data
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Top 10 most expensive suburbs in Darwin for houses: RP Data

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The Shopping Centre Council has rejected calls by the Franchise Council of Australia to cap the amount retailers are compelled to spend on store fit-outs, saying attractive stores are integral to combating the threat of online retail.

"Successful retailers say you have to be prepared to spend money to inspire customers to engage in the bricks and mortar experience," the SCC, which represents shopping centre owners and managers, says.
"Australian franchisors want regulated limits on how much they have to spend."
The SCC is responding to the FCA's plans for a voluntary code of conduct for landlords and tenants, designed to stem disputes between the two.
The FCA, which represents franchisors and franchisees, says the code is designed to address "extreme behaviour" such as "excessive" rent increases and "unreasonable and costly requirements in relation to shop fit-out and signage".
FCA executive director Steve Wright says the ball is rolling on the code of conduct.
But the SCC says that successful international retailers "stress the need for store fit-outs and store-fronts to be exciting, modern and seductive for customers."
"They also stressed the need for shopping centre environments to be constantly refreshed so they remain an ongoing magnet for customers."
According to the SCC, shopping centre owners have no incentive to make unreasonable fit-out demands of their tenants.
"Shopping centre owners fully understand that fit-out requirements are a delicate balance: on one hand, there is the need for shops to be exciting, fresh and seductive to customers; on the other, the amount spent can't be so much that it jeopardises the retailer's business plan and they can't afford to pay the rent," the SCC says.
"After all, the money spent on fit-outs does not end up in the owner's pocket."
But the Franchise Council of Australia says shopping centre fit-out requirements are expensive, too frequent and an unfair imposition on tenants who have leases for as short as five years.
"The problem is, the shopping centre management or owner is trying to turn the thing in to an art gallery instead of a retail precinct," the FCA says.
This article originally appeared on<a target="_blank" href="https://www.smartcompany.com.au/"> SmartCompany.</a>
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Shopping Centre Council says mandatory store fit-outs necessary to protect bricks and mortar from online

<html><body>
<table border="1" cellspacing="0" cellpadding="0" width="337"><tbody>
<tr>
<td width="64" nowrap valign="bottom">
Postcode
</td>
<td width="124" nowrap valign="bottom">
Suburb
</td>
<td width="149" nowrap valign="bottom">
Indicative gross rental yield for units
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2158
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">DURAL</a>
</td>
<td width="149" nowrap valign="bottom">
7.1%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2011
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">WOOLLOOMOOLOO</a>
</td>
<td width="149" nowrap valign="bottom">
6.5%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2015
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">ALEXANDRIA</a>
</td>
<td width="149" nowrap valign="bottom">
6.4%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2000
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">SYDNEY</a>
</td>
<td width="149" nowrap valign="bottom">
6.2%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2007
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">ULTIMO</a>
</td>
<td width="149" nowrap valign="bottom">
6.1%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2008
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">DARLINGTON</a>
</td>
<td width="149" nowrap valign="bottom">
6%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2153
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">BELLA VISTA</a>
</td>
<td width="149" nowrap valign="bottom">
5.7%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2008
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">CHIPPENDALE</a>
</td>
<td width="149" nowrap valign="bottom">
5.6%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2140
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">HOMEBUSH</a>
</td>
<td width="149" nowrap valign="bottom">
5.6%
</td>
</tr>
<tr>
<td width="64" nowrap valign="bottom">
2000
</td>
<td width="124" nowrap valign="bottom">
<a target="_blank" href="/news">HAYMARKET</a>
</td>
<td width="149" nowrap valign="bottom">
5.6%
</td>
</tr>
</tbody></table>
 Source: RP Data
 
 
 
 
 
 
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Top 10 Sydney suburbs for unit rents: RP Data

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The weekend auction of 52 Berry Street, East Melbourne, was somewhat lacklustre, says Mark Armstrong of<a target="_blank" href="https://www.propertytycoon.com.au/"> Property Tycoon. </a>
With only two bids, the property was passed in for $2.91 million and sold in post-auction negotiation for $3.1 million.
"Given the last sale in the street sold for $3.3 million many tippers thought this price was light on, with the average tip being $35,000 above the sale price," says Armstrong.
Before the auction Armstrong noted its excellent position and had predicted competition would be strong for the property.
"Locations do not get much better than 52 Berry Street, East Melbourne, as it is on the doorstep of the MCG, Bridge Road Richmond and a brief walk to the city," Armstrong said before the auction. " The property has open entertaining spaces on the ground floor in addition to three bedrooms and a large study on the upper floors. It is well suited to the executive couple with no children or downsizes who are looking for a lifestyle change."
52 Berry Street, East Melbourne, VIC, 3002
<img src="/images/stories/berryst.jpg">
Sale price: $3.1 million
Agent quote: $3 million plus
% above agent quote: 3.23%
Bidders: Two
Last sold: November 1997 for $920,000 
Average tip: $3,135,821
% Correct tips: 8.24%
<a target="_blank" href="https://www.propertytycoon.com.au/">Property Tycoon</a> allows punters to guess auction results with no outlay.
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East Melbourne $3.1 million auction tipping result

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{yoogallery src=[images/stories/december12christucker]}
Comedian and actor Chris Tucker has recently sold two Florida homes below their market value in order to pay off tax debts, according to reports.
The first, pictured above, is in the gated equestrian and golf community Bella Collina. The Rush Hour star reportedly paid $6 million for the property in 2007, according to the <a href="https://realestalker.blogspot.com/2010/07/comedian-chris-tucker-selling-short" target="_blank">Real Estalker blog</a>, but negotiated a short sale for US$2 million before the bank was to foreclose on it last month.
The property has five bedrooms and five bathrooms, a "whimsical pirate-themed home theatre", lavish interiors and a pool, spa and deluxe barbecue area. It was listed by<a href="https://realestatecenter.bankofamerica.com/homes-for-sale/FL/Montverde/34756/16607-AREZO-Ct-54768905/popup" target="_blank"> RE/MAX Central Realty</a>.
According to celebrity gossip website <a href="https://www.tmz.com/2011/12/11/chris-tucker-foreclosure-houses/#.TuUkwbLLzCl" target="_blank">TMZ</a>, Tucker sold another Florida home in October for US$1.05 million, although he listed the property for $1.5 million.
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Chris Tucker reputedly sells at a huge loss

A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.

The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.

[smartcode_project:default project_id=150454 project_image_fid=364156]

Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.

“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.

That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.

The absence of holiday letting within the building has also resonated strongly with purchasers.

“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”

[smartcode_project:default project_id=150454 project_image_fid=366491]

The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.

“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.

“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”

[smartcode_project:default project_id=150454 project_image_fid=366486]

Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.

Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.

A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.

The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.

&nbsp;

To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.

[smartcode_project_cta:default project_id=150454]

Joel Robinson

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

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Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

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Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

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The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

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While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Why Hyecorp continues to back Sydney's Lower North Shore apartment market

South East Queensland’s apartment market is entering a new phase defined by rising prices, constrained affordability, and mounting pressure on the construction pipeline, according to RPM Group’s latest SEQ Apartments &amp; Townhomes Market Report.

The May 2026 report highlights a widening divide between what buyers can afford and what developers can viably deliver, with detached house prices continuing to push more buyers toward apartments across Brisbane, the Gold Coast, and the Sunshine Coast.

RPM says Brisbane’s median house price has reached around $1.5 million, accelerating the shift toward higher-density housing as buyers are increasingly priced out of the detached market.

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Median unit prices rose across all three major SEQ markets in the March quarter. Brisbane City recorded the strongest annual growth, with median unit prices climbing 21 per cent to $862,000, while the Gold Coast reached the highest overall median at $950,000, up 17 per cent year-on-year. The Sunshine Coast followed at $870,000, representing annual growth of nine per cent.

RPM noted the affordability gap between houses and units remains significant, with detached homes commanding premiums of 67 per cent in Brisbane and 68 per cent on the Gold Coast relative to apartments.

The report suggests this price disparity is increasingly consolidating buyer demand within the apartment market, particularly among downsizers and owner-occupiers.

“Demand is real. Supply is moving. But they’re operating on different timelines and the gap between what’s being built and what buyers can afford is the defining tension in this market right now,” RPM Queensland and NSW Managing Directors Peter Neale and Clinton Trezise said in the report.

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While approvals and commencements are strengthening, RPM argues the delivery pipeline remains constrained by construction costs, labour shortages, and extended build timelines.

Apartment approvals across Queensland increased 86 per cent over the year to February 2026, reaching 12,682 approvals, the highest level recorded since 2016. Brisbane overtook the Gold Coast as the state’s most active apartment approval market, with nearly 5,000 apartments approved over the past 12 months.

Unit commencements also strengthened considerably, rising 48 per cent year-on-year to 5,453 commencements in the December 2025 quarter, the highest level since 2018.

However, RPM’s research found apartment delivery timeframes have expanded sharply compared to the previous cycle. Projects are now averaging around 30 months from approval to completion, compared to roughly 20 months a decade ago.

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The number of units under construction has climbed to approximately 31,530 dwellings, nearing the previous 2016 peak, though projects are remaining in the pipeline for considerably longer.

Construction costs continue to weigh heavily on feasibility. RPM found the average apartment construction cost in Greater Brisbane reached $630,000 per dwelling in 2025, exceeding both Sydney and Melbourne. Coastal Queensland markets, including the Gold Coast and Sunshine Coast, were even higher at an average of $817,418 per apartment due to the prevalence of larger premium product.

The report also points to increasing pressure from Olympic-related infrastructure spending ahead of Brisbane 2032, with labour competition expected to intensify over the next several years.

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ANZ Associate Director of Property Daniel Gradwell said the underlying demand drivers across South East Queensland remain strong, supported by interstate migration, downsizers, and population growth.

“The challenge is bringing enough supply to market to meet that demand, and nothing on the horizon makes that straightforward,” Gradwell said.

RPM’s analysis found the affordability challenge is becoming more pronounced in the new apartment market itself, with only three per cent of surveyed new apartments priced below $1 million.

Instead, the market is increasingly concentrated in higher price brackets, with the most common new apartment price band across SEQ sitting between $1.5 million and $1.75 million. Around half of all new apartment stock surveyed is priced below $2 million.

The report suggests developers are not necessarily avoiding lower price points by choice, but because current construction economics make delivering affordable apartments increasingly difficult at scale.

Rental conditions also remain tight across the region. Median rents for one-bedroom apartments rose 12 per cent in Brisbane over the past year to $580 per week, while Gold Coast one-bedroom rents increased nine per cent to $630.

Despite rising rents, RPM noted bond lodgements have generally trended downward over the past five years, indicating more apartments are being absorbed by owner-occupiers rather than retained as investor-held rental stock.

Looking ahead, RPM expects projects targeting the mid-market owner-occupier segment between $1.25 million and $2 million to remain the most viable part of the market, while premium projects in highly constrained coastal or riverfront locations continue to attract demand.

“Construction costs are rewriting the feasibility rulebook across Greater Brisbane, and with little relief in sight, only projects in the right price band, right location, and with presales secured early will make it through,” the report concludes.

SEQ apartment demand outpacing affordable supply as construction timelines stretch: RPM

Camberwell Junction has long been the epicentre of amenity in Melbourne’s Boroondara region.

For nearly a century, it has drawn both locals and visitors, anchored by the Camberwell Sunday Market, which first operated in 1929 and quickly became a fixture of the suburb’s identity. Over time, the Junction evolved into one of Melbourne’s most established retail and lifestyle precincts, now comprising more than 400 stores and over 300 commercial businesses.

Despite that depth of amenity, one thing has remained notably limited: the supply of new apartments.

In a suburb defined by its heritage streetscapes and tightly held residential stock, new development opportunities have been scarce, particularly within the core of the Junction itself. That lack of supply has left a gap in the market for larger, design-led apartments suited to downsizers and owner-occupiers wanting to remain in the area.

Boutique developer Above Zero identified that gap when it secured a prime site on Burke Road, in the heart of Camberwell Junction.

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The site has a long planning history. Various proposals have been put forward over more than a decade, many of which were knocked back by the City of Boroondara, with initial applications dating back to 2015. Above Zero acquired the site in 2022 and returned with a revised scheme, refining both the building’s height and its ground-level interface to better align with Council expectations.

That process has culminated in approval for Camberwell House.

The Cera Stribley-designed development will deliver 57 residences on a 1,950 sqm site within the Camberwell Activity Centre, placing it directly within one of Melbourne’s most established retail and transport hubs.

It is expected to be one of the only new apartment developments to launch in the Junction in recent years, reinforcing the rarity of new supply in the precinct. Currently, there are just a handful of projects on the market in Camberwell, underscoring the significance of a development of this scale and positioning.

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Camberwell House has been conceived with a clear focus on larger-format apartments. The project will offer a mix of two-, three- and four-bedroom residences, alongside a limited number of penthouses, targeting owner-occupiers seeking scale rather than volume-driven product.

The building’s vertical presence will also set it apart.

Positioned on Burke Road, the development is set to become one of the taller buildings in its immediate context, allowing for elevated outlooks across Melbourne’s CBD skyline and toward the Dandenong Ranges. In a precinct characterised by lower-scale built form, that height provides a point of differentiation, particularly for buyers seeking outlook and natural light.

[smartcode_project:default project_id=4896 project_image_fid=368568]

Architecture has been led by Cera Stribley, with interiors by GOLDEN and landscape design by Florian Wild. The design approach centres on material consistency and restraint, with residences oriented to maximise light, ventilation and connection to outdoor spaces.

Full-height glazing and generous terraces form a key part of that strategy, allowing apartments to extend beyond their internal footprint and engage with the surrounding environment.

Beyond the private residences, a significant component of the project is its amenity offering.

Above Zero has positioned Camberwell House as a “complete living environment”, incorporating a full floor dedicated to resident facilities. At the centre of that is a wellness zone, including a 12.5-metre lap pool, spa, sauna and treatment spaces, alongside a gym and recovery-focused amenities.

This level of amenity is more commonly associated with inner-city developments, rather than established middle-ring suburbs like Camberwell.

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Additional shared spaces include a private library lounge, dining and entertaining areas, and an indoor golf simulator. A self-contained guest suite has also been incorporated, allowing residents to accommodate visiting family or friends without impacting their primary living space.

The inclusion of these facilities reflects a broader shift in buyer expectations.

As more downsizers look to transition from larger family homes into apartments, there is increasing demand for developments that offer not just a residence, but a lifestyle. That includes access to wellness, social and entertaining spaces within the building itself, reducing the reliance on external amenity while still maintaining proximity to established precincts.

Camberwell House is positioned to benefit from both.

Its location places it within immediate walking distance of Camberwell Junction’s retail and dining offering, as well as public transport connections, including tram and train services. That combination of internal amenity and external convenience is central to its appeal.

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Jellis Craig Projects Director Stephen Bowtell is handling sales for the project and says Camberwell House offers a rare entry point into one of Melbourne’s most tightly held markets.

“Buyers are recognising that Camberwell House offers something they simply haven’t seen before in Boroondara,”&nbsp;Bowtell&nbsp;says.

“It combines a level of resident amenity and service typically associated with Melbourne’s premium inner-city developments, while being positioned right in the heart of Camberwell Junction.

“The response to the concierge offering has been particularly strong. Buyers appreciate not only the convenience, but also the sense of security and peace of mind that comes from having a dedicated presence in the building every day.

“When you combine that with the wellness facilities, the exceptional arrival experience, and panoramic views across both the CBD skyline and the Dandenong Ranges, it creates a lifestyle proposition that is genuinely unique within the local market.”
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[smartcode_project_cta:default project_id=4896]

Cassidy Knowlton

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