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Home ownership levels have continued to rise over the past two decades and may be at record levels, the industry has tipped after the Australian Bureau of Statistics released new data showing the percentage of income put towards a home loan has stayed steady since 1994.

The figures show that although house prices have actually increased by more than 114%, the average household with a mortgage is still paying 42% of their income, roughly in line with the same figures from 1994.
Moreover, the figures show 36% of Australians had mortgages in 2009-10, up from 30% in 1994. APM economist Andrew Wilson says it is likely that since then, the percentage has continued to rise.
"Home owner occupancy levels have continued to hold up, and I'd suggest those numbers would rise once we get census data because of the great surge we had in first home buyers."
The data does indeed show of the 1.07 million households that purchased their home in the three years to 2009-10, 40% were first home buyers. Most first home buyers had a reference person aged under 35, while less than 10% had a reference person aged 45 years or over.
"I'd actually expect us to see record levels of home ownership when that data comes through. Of course, we're suffering from having much lower levels of first home owner stimulus, but I expect that data to still be high," Wilson says.
And although the data shows housing costs have remained in proportion to income, there are some caveats. Between the two surveys, private renters have seen a 45% increase in weekly housing costs after inflation. For public renters, the proportion of income needed for housing has risen from 17% to 19%.
The figures also show that the number of Australians who own a house with no mortgage has fallen to 33% from 42%, while 24% of Australians are now renting, compared with 18% in 1994.
"The decline in outright home ownership may, in part, reflect increasing uptake of flexible low-cost financing options which allow households to extend their existing home mortgages for purposes other than the original home purchase," the report states.
However, the figures also show a clear gap between professional singles, young couples without children and dual income families, and then families with single parents.
Younger persons in a couple were more likely to buy than younger singles. But for couples with dependent children, the eldest under five years, 64% owned their home, although this rose to 75% with the eldest aged between five and 14.
But one parent households with dependent children were more likely to rent, 58%, than to own their own home, only 40%. "And they were the life cycle group most likely to be renting through a state or territory housing authority (13%)."
The figures also show a clear trend towards larger homes, with the number of people per house also growing as well.
Households that owned their home with a mortgage had one or more rooms to spare, at 89%, with 68% of couples living with children having at least one spare bedroom.
"On average, dwellings for couples with dependent and non-dependent children contained the highest number of bedrooms (3.9) and housed an average of 4.7 people."
Experts say this could indicate why construction has not increased and there is a deficiency in dwellings, as more homeowners are using their spare rooms instead of those people moving out into other dwellings.
This article originally appeared on <a href="https://www.smartcompany.com.au/property/20111117-home-ownership-still-affordable-on-the-rise-abs-figures-show" target="_blank">SmartCompany</a>.
 
 
 
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Home ownership still affordable and on the rise: ABS

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The Exo development in the burgeoning Melbourne suburb of Docklands is almost two-thirds sold after launching at the end of July.
Developer Lend Lease has sold 60 of the 96 apartments off the plan so far, with the development officially launching July 31. The building was<a target="_blank" href="https://www.propertyobserver.com.au/victoria/docklands-development-half-sold-in-two-weeks-on-market/2011082251238"> half sold in the first three weeks of its marketing</a>. 
<img src="/images/stories/exo2.jpg">
The building will comprise 32 one-bedroom apartments of about 55 square metres, which start at $395,000. It will have 64 two-bedroom apartments, which range from 79 square metres to 93 square metres and start at $665,000.
Exo is part of Lend Lease's $4.5 billion Victoria Harbour, the epicentre of Docklands. Already completed in the precinct are Dock 5, a 30-storey tower comprising 148 apartments; The Mosaic, a mid-rise, nine-storey residential development; and The Montage, sister development to The Mosaic with a rooftop garden.
Construction has begun on Exo and is due to be completed in mid-2013.
<img src="/images/stories/exofacade.jpg">
Exo will be have a distinctive perforated white façade, with its irregular holes designed to bring to mind river rocks or forest paths. It was designed by Lend Lease Design’s architectural team.
“Exo is the latest in a line of commercial and residential projects adding panache to Melbourne’s Victoria Harbour precinct – a unique fusion of city and water,” says Lend Lease Victoria Harbour project director Claire Johnston.
The development will back onto <street><address>Collins Street</address></street>, and although its address is technically <street><address>Merchant Street</address></street>, Lend Lease aims for it to be “characteristically <street><address>Collins Street</address></street>”.
<img src="/images/stories/exo3.jpg">
“The design demonstrates an innate understanding of the need for sanctuary from the hustle and bustle of urban life, with each apartment purposely designed to maximise space and minimise noise, allowing residents to reside in the heart of the city without having to compromise on their quality of living,” says Johnston.
The 10-year-old Docklands precinct has been something of an urban experiment, with the new suburb home to 15,000 residents and a growing number of businesses. Companies like Myer, NAB and ANZ are headquartered in Docklands on the eastern fringe of Melbourne CBD, and they bring thousands of young professionals to the area every day. The ANZ building alone is full of 6,000 office workers on a busy workday.
For more on the past, present and future of Docklands, download our free e-book. 
 
 
 
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Docklands development Exo almost two-thirds sold

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{yoogallery src=[images/stories/november17hunt]}
Oscar-winning actress Helen Hunt has listed her Upper West Side New York apartment for US$2.75 million.
The 186-square-metre apartment includes three bedrooms, three bathrooms and large entertaining and living spaces. According to the <a href="https://online.wsj.com/article/SB10001424052970204224604577028240025782280" target="_blank">Wall Street Journal</a>, Hunt purchased the property in 2006 for US$2.4 million.
The 1915 co-op includes 35 apartments and has a full-time concierge and porter. 
Hunt's apartment is listed through <a href="https://corcoran.com/property/listing.aspx?Region=NYC&amp;listingid=2238281&amp;source=Trulia" target="_blank">Corcoran </a>agent Jon Capobianco. 
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Helen Hunt lists New York apartment

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They’re low-maintenance, affordable and concentrated in the hippest parts of town. No wonder studio apartments are proving hard to resist for buyers and tenants alike.
For investors, studios are a more affordable and safer option than bigger properties and can provide a higher rental return.
Andrew Donnelly, CEO of property marketing firm Whiterock Capital Partners, says studios can command rental yields of 1% to 1.5% higher than one-bedroom and two-bedroom apartments.
“That means from an investment perspective, studios are affordable to buy but the yields are much better than bigger properties,” he says.
“Studios offer yields closer to 6%, whereas a one-bedroom apartment will provide a yield of 5% and a two-bedroom a yield of 4.5%. And when it comes to renting out studios, there’s a queue halfway down the street with people wanting to rent these properties.”
<img src="/images/stories/studio.jpg">
Real estate agent Eileen Carroll of Ray White Glebe in Sydney recently sold a studio apartment on Ward Avenue, Potts Point for $253,000. The property was rented at $380 a week on a casual basis but is more likely to secure a weekly rent of $350 on a longer lease. A $350 weekly rent would still deliver an impressive rental yield of 7.2%.
By way of comparison, Carroll sold a two-bedroom apartment on Cook Street, Glebe for $505,000. With a potential weekly rent of $500, the two-bedder would return a 5.1% rental yield. “Studios definitely offer a better rental return for investors,” Carroll says.
Luke McDonnell, an agent with Richardson &amp; Wrench Elizabeth Bay, says studios in Sydney’s inner east can command rental yields of 5.5% versus a rental yield of 4.8% for two-bedroom apartments.
However, he says investors after quick capital gains should steer clear of studios. “It depends on why they’re investing,” McDonnell says. “If it’s for short-term capital gains, I wouldn’t advise them to buy a studio as capital growth isn’t as strong in the short term as it is for bigger apartments.
“But if you’re looking for strong rental return and an investment you don’t have to think about, then go for a studio.”
<img src="/images/stories/studio4.jpg">
Melbourne agent Nay Baeck, of Little Residential South Yarra, agrees strong rental return is the most attractive feature of studios for investors. “You can’t expect as much in capital growth, but the rental income is very good,” she says. “Studios are popular with tenants because they are cheaper and easier to manage.”
A concentration of studios in Melbourne’s CBD attracts overseas students who pay high rents, according to Baeck. In this case, furnished apartments tend to fare better in attracting tenants.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/stylish-studios-finding-new-buyers-new-marketing-and-a-new-name/2011111552371?source=flicker2">Yesterday we looked at the increasing numbers of owner-occupiers and investors who are buying studios</a>, which have sometimes been renamed suites. 
 
 
 
 

 
 
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Yields of up to 6% draw investors to studio apartments

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SQM Research's top 10 discounted properties list includes a distressed Queensland property that is now being offered for $250,000 below its purchase price. It's been listed as mortgagee in possession, having failed to sell at its May auction. It was first listed in April 2010 at $590,000, which remained its asking price until April this year. 
"There is one in particular that we would like to draw to your attention to - number two on this week's list, 92 Beelong Street Macleay Island - an off shore location in Queensland. Yes, a large discount in price is not entirely surprising for a property in such a remote location. What is quite shocking however, is that this property is recorded to have last sold for $590,000 in December 2007,$250,000 more than its current asking price," SQM director Louis Christopher says.
"Although SQM Research have been predicting house price declines in certain areas, a discount of this degree is not expected nor common, even in isolated areas such as Macleay Island.
"We can only assume that with a price slash of this nature coupled with the mortgagee being in possession of the property that this is a simple case of the vendors wishing to meet the market and sell as soon as possible."
<h2 style="font-size: 18px; line-height: 21px;">1</h2>
<a href="https://&lt;http:/sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106479093" target="_blank">588 White Beach Road, White Beach, Tasmania, 7184</a>
On the market since: May 23, 2010
Initial asking price: $780,000
Current asking price: $400,000
Reduction: 49%
Days on market: 532
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">2</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106479016" target="_blank">92 Beelong Street, Macleay Island, Queensland, 4184</a> (pictured)
On the market since: May 23, 2010
Initial asking price: $590,000
Current asking price: $340,000
Reduction: 42%
Days on market: 531
 
3
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008940771">102 Fountain Road, Burpengary, Queensland, 4505</a>
On the market since: April 17, 2011
Initial asking price: $1.2 million
Current asking price: $699,000
Reduction: 42%
Days on market: 204
 
<h2 style="font-size: 18px; line-height: 21px;">4</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105832903" target="_blank">3 Boolari Road, Gosford West, NSW, 2250</a>
On the market since: July 8, 2009
Initial asking price: $990,000
Current asking price: $580,000
Reduction: 41%
Days on market: 850
 
<h2 style="font-size: 18px; line-height: 21px;">5</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106866439">329 Waterford Road, Ellen Grove, Queensland, 4078</a>
On the market since: October 16, 2010
Initial asking price: $1,275,000
Current asking price: $800,000
Reduction: 37%
Days on market: 385
 
<h2 style="font-size: 18px; line-height: 21px;">6</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008491614" target="_blank">25 Vicary Street, Triabunna, Tasmania, 7190</a>
On the market since: August 2, 2010
Initial asking price: $299,000
Current asking price: $189,000
Reduction: 37%
Days on market: 463
 
<h2 style="font-size: 18px; line-height: 21px;">7</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007193295" target="_blank">290 Viveash Road, Swan View, WA, 6056</a>
On the market since: June 5, 2008
Initial asking price: $2.29 million
Current asking price: $1.45 million
Reduction: 37%
Days on market: 450
 
 
<h2 style="font-size: 18px; line-height: 21px;">8</h2>
<a href="https://&lt;http:/sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107366585" target="_blank">146 Maddington Road, Maddington, WA, 6109</a>
On the market since: April 30, 2011
Initial asking price: $5.5 million
Current asking price: $3.5 million
Reduction: 36%
Days on market: 189
 
<h2 style="font-size: 18px; line-height: 21px;">9</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007217761" target="_blank">1302 Birkdale Place, Magenta, NSW, 2261</a>
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 1,236
 
<h2 style="font-size: 18px; line-height: 21px;">10</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105294317" target="_blank">3 Zelma Court, Macleay Island, Queensland, 4184</a>
On the market since: May 23, 2010
Initial asking price: $380,000
Current asking price: $250,000
Reduction: 34%
Days on market: 531
 
SQM Research also offers a list of the <a href="https://www.sqmresearch.com.au/top100bargains.php" title="SQM Research" target="_blank">Top 100 Biggest Bargains in Australia </a>for sale.
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Distressed Queensland property makes debut on SQM Research's top 10 discount list

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<img src="/images/stories/haven1.jpg">
Abbotsford is becoming a development hotspot, with a new 148-unit, 11-storey development 30% sold after launching on November 5.
Haven is the second stage of a three-stage project by developer Hamton, after stage one of the Abbotsford development, the 201-unit Eden, sold out. The three together are set to have 560 apartments.
They join other recent residential building in the suburb, such as<a href="https://www.propertyobserver.com.au/developments/trenerry-abbotsford-development-brings-residential-to-the-riverfront/2011091451544" target="_blank"> the Trenerry development</a>.
<img src="/images/stories/haven2.jpg">
Haven will include a mix of one-, two-, three- and four-bedroom units. One-bedroom units will range in size from 41 square metres to 72 square metres internally and are priced between $365,000 and $581,000. Two-bedroom units will be between 66 square metres and 134 square metres internally and range in price from between $680,000 and $1.3 million. Three- and four-bedroom units will be between 124 square metres and 235 square metres internally and are priced between $1.38 million and  $3.9 million.
Of the apartments that sold, 18 were over $1 million. 
Hamton joint managing director Paul Hameister says the previous development drew well-heeled owner-occupiers from the neighbouring high-end suburbs of Hawthorn and Kew. Prices for Eden apartments ranged from $320,000 to $2,665,000.
“With Eden, we were overwhelmed with demand from owner-occupiers currently living in the affluent suburbs across the river from our site,“ Hameister says.
“They were looking for larger luxury apartments with high-end finishes, allowing them to downsize to a low maintenance lock-up-and-leave lifestyle in essentially the same location as their current home. We have sought to address this demand with Haven.”
<img src="/images/stories/haven3.jpg">
Haven will include resort-like features to cater for high-end owner-occupiers, including a hotel-like lobby with concierge service, bar and lounge, a panoramic rooftop with landscaping and plots available for resident gardening, a heated rooftop pool and spa, indoor cinema, gym and outdoor adventure gear available for hire.
“We are pleased that our extensive research into the empty nester market and the steps we have undertaken to accommodate their needs has been validated with these results,” says Hameister.
Architecture firm RotheLowman is designing the inside and outside of the building, designed to emulate the curves and contours of the neighbouring Yarra River.
Between Haven and Eden will be Acacia Place, a series of landscaped spaces and a public walkway connecting the Yarra to Victoria Street.
“One of the key elements of our master plan for the site is Acacia Place, which allows the public to share this unique piece of river bend and bring activity and vibrancy to the precinct,” Hameister says.
Construction is expected to begin in early 2012 and is expected to be finished in early 2013.
For advice on buying off the plan download our free e-book.
 
 
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Abbotsford development Haven 30% sold in first fortnight of marketing

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As Australia’s incessant undersupply of homes continues to drive up property prices, more renters and buyers are looking to studio apartments for a more affordable entry into the property market.
Sometimes barely bigger than your average hotel room, studios often get a bad rap as a risky investment because their size limits their market appeal. Or so the argument goes. But as Australia shifts towards high-density living, will studios become a more viable option?
<img src="/images/stories/studio2.jpg">
Louis Christopher, managing director of property forecasting company SQM Research, says the long-term trend towards smaller apartments will increase the appeal of studios. “We’ll see more of this type of stock in the long term. The trend is towards smaller and smaller accommodation in capital cities around Australia,” he says.
“The trend is going to be with us for some time. There are quite a few studio apartments being built in Melbourne, followed by Brisbane.”
Property developers such as Frasers Property Australia have already tapped into the compact living trend and are offering a range of options, including studios, in new developments.
“Several factors are coming together to drive the trend toward smaller properties, and it’s clear this trend is continuing,” says Adam Sparkes, group sales manager at Frasers. “Firstly, smaller properties are more affordable, providing an entry point for first-home buyers and property investors.
“For investors, the rental return is often higher than for a larger property. Finally, demographic trends are toward more single-person households, and single residents are leading the charge toward inner-urban life, with the shopping, dining, transport, culture and easy access to everything that goes with it.”
<img src="/images/stories/studio3.jpg">
At Frasers’ Park Lane development on the old Carlton United Breweries site in Sydney’s Chippendale (pictured), one-tenth of the apartments on offer are studios. Marketed as “one-bedroom suites”, the apartments are open-plan spaces with designated sleeping and living zones. Prices range from $530,000 to $575,000. In Perth, at Frasers’ Queens Riverside development 8% of available apartments are studios, priced from $340,000 to $410,000.
Sparkes says despite resistance from the banks, studios appeal to many different buyers.
“A really diverse group of people are attracted to smaller apartments,” he says. “First-home buyers love them because they’re relatively affordable and yet beautifully new. Retirees buy them for a city crash pad. International businesspeople buy them as a Sydney base, far more personal than a hotel room. Investors include them in their portfolio because of high yields and the high demand for these properties.”
Six of the 31 apartments at Oliver Electric Co development in Sydney’s Alexandria are studios, and three of them sold on their first weekend on the market.
“From an investor’s perspective, studios are affordable but the rental yields are often higher than one- or two-bedroom apartments,” says Andrew Donnelly, CEO of Whiterock Capital Partners, which is marketing the development.
“The only issue is bank funding. Banks still require a higher loan-to-value ratio than they do for bigger properties so investors and buyers are required to save upwards of 30% for the deposit. But as studios are more affordable, this may not be a problem.”
An ANZ spokeswoman says the bank offers a maximum loan-to-value ratio of 60% for small residential apartments under 40 square metres.
“Lending for property is assessed on a case-by-case basis and is dependent on a number of factors, including how the loan will be serviced, the level of equity the customer has, the value of the asset for which the loan is used, as well as the resale value of the property,” she adds.
Banks have traditionally been reluctant to grant home loans for studios because it’s harder to secure mortgage lender’s insurance on properties smaller than 50 square metres. Lender's mortgage insurance covers the lender for any shortfall that may occur if a mortgage holder default on the loan and the property is sold at a loss. As the traditional thinking goes, studio apartments appeal to a limited market – families are ruled out, for example – so insurers and banks factor in the risk that it may be harder to sell studios in a quick sale.
Real estate agents, however, say studios in desirable city locations sell fast. Luke McDonnell, an agent with Richardson &amp; Wrench Elizabeth Bay in Sydney, has sold five studios in the past four months. “They are always quite easy to sell. Studios have always been popular in this area,” he says.
“They are a good first entry point into the market and vacancy rates are very low.”
Not surprisingly, today’s studios are in a different league from those built at the start of last century. While older studios hover around 20 square metres, the internal living space of studios in new developments is often twice that size. At Queen’s Riverside in Perth, studio apartments boast 41 square metres of internal space and a balcony measuring nine square metres. Studios in the Oliver Electric Co development offer the same dimensions.
Sparkes describes Frasers Property’s studios as “luxurious homes, intelligently designed within a smaller footprint”.
Maximising light and storage are key considerations for developers. At Oliver Electric, studios are 4.2 metres wide. “That’s wider than some terraces in Paddington, Sydney,” Donnelly says. “Today’s studios are much more liveable, so they are more attractive to owner-occupiers not just investors.”
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Stylish studios finding new buyers, new marketing and a new name

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{yoogallery src=[images/stories/november16sheen]}
Actor and tiger blood connoisseur Charlie Sheen has sold his LA house to Big Bang Theory star Simon Helberg and Helberg's partner, Jocelyn Towne, for US$2.9 million.
Sheen listed the  388-square-metre house for US$3,697,000 in 2009 but was unable to sell it. He continued to drop the asking price throughout 2010, according to the <a target="_blank" href="https://realestalker.blogspot.com/">RealEstalker </a>blog, and Helberg and Towne purchased it in late October of this year. Property records show that Sheen paid US$2,575,000 for the property in 2007.
The 1927 home includes four bedrooms and five bathrooms, plus a sizeable back yard with de rigeur pool and waterfall. It is not the home where Sheen recenlty holed up with his "goddesses", as Sheen has not lived in the property for some time.
Sotheby's International Realty <a target="_blank" href="https://www.zillow.com/homedetails/2549-N-Catalina-St-Los-Angeles-CA-90027/20808790_zpid/">listed the property. </a>
Sheen appeared in multiple blockbuster movies throughout the 1980s and 1990s, such as Platoon, Wall Street, Ferris Bueller's Day Off and Young Guns before landing starring roles on sitcoms Spin City and Two and a Half Men. Sheen was fired from the latter for his increasingly bizarre antics earlier this year. 
Helberg stars in the CBS comedy The Big Bang Theory. 
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Charlie Sheen sells LA house to Big Bang Theory star

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The rules surrounding what self-managed super funds can do using borrowed funds for are strict. There are limits and the Tax Office, as the regulator of these funds, takes a tough approach.
The reason this issue has come to attention is the recent release by the ATO of a major draft ruling on the circumstances where money borrowed by a self-managed super fund can be applied in maintaining or repairing a single acquirable asset, for example, a property.
With the rapid growth in SMSFs, this ruling when finalised has the potential to affect many people and the way in which they invest their superannuation. Presumably, some might suggest the in-the-doldrums property market could benefit from this ruling. Time will tell!
The draft is quite technical and explains the Tax Commissioner's views on what are known as the limited recourse borrowing arrangement (LRBA) provisions in sections 67A and 67B of the Superannuation Industry (Supervision) Act 1993 (SIS Act).
Broadly, an SMSF is permitted to borrow money (and maintain a borrowing) provided the borrowing is made pursuant to an LRBA. An LRBA entered into from July 7, 2010 (ie. the date the current sections 67A and 67B came into effect) can only be referrable to a single "acquirable asset" held in a holding trust, which the SMSF is not otherwise prohibited from acquiring directly. In addition, a borrowing applied to the original acquirable asset can only be replaced with a "replacement asset" according to the circumstances in s 67B.
The draft ruling outlines where money borrowed under an LRBA can be applied in maintaining or repairing (but not improving) a single acquirable asset.
While borrowings under an LRBA cannot be used to improve an acquirable asset, the Tax Office says money from other sources could be used to improve (or repair or maintain) that asset. However, any improvements must not result in the acquirable asset becoming a different asset.
Acquirable asset
The draft ruling notes that an "acquirable asset" is any form of property (other than money) that the fund trustee is not otherwise prohibited from acquiring under superannuation law. Although "property" can include proprietary rights or the physical objects of proprietary rights (eg. land), the Tax Office says it is necessary to consider the meaning of property in both senses to determine whether money borrowed under an LRBA has been applied for the acquisition of a single acquirable asset.
Single acquirable asset
While money borrowed under an LRBA can only be applied for the acquisition of a single acquirable asset (or a collection of identical assets with the same market value), the Commissioner considers that a single object of property may be acquired notwithstanding that it is comprised of two or more proprietary rights. However, this will only be so where it is reasonable to conclude that the object of the separate proprietary rights is distinctly identifiable as a single asset.
Borrowings applied for repairs (but not improvements)
To determine if an asset has been repaired or maintained (or whether it has been improved), the Tax Office says reference is made to the asset's qualities and characteristics at the time when the asset is acquired under the LRBA. To this end, the Tax Office says an asset is improved if the functional efficiency of the asset (or value) is substantially increased.
If an asset is already owned by an SMSF, and thus not subject to an LRBA, the Commissioner says a borrowing to fund repairs or maintenance for that asset would not satisfy the LRBA provisions.
Repairing the asset
According to the draft ruling, "repairing" means remedying or making good defects in, damage to, or deterioration of, an asset and contemplates the continued existence of the asset.
The Tax Office says a repair restores the functional efficiency of the asset without changing its character and may include restoration to its former appearance, form, state or condition. That is, a repair merely replaces a part of something or corrects something that is already there and has become worn out or dilapidated through ordinary wear and tear, or is damaged whether accidentally or deliberately.
Acquiring asset in need of repair
The draft ruling notes that an asset may be bought in a state in which a part of the asset is defective, damaged or suffering some deterioration of what would be considered to be its normal level of functional efficiency. Accordingly, the Tax Office says a restoration of that part of the asset to its functional efficiency would be a repair (and not an improvement) for LRBA purposes.
However, funds thinking of acquiring a "renovator's delight" need to beware. The Tax Office warns that a substantial renovation of a rundown house would improve the functional efficiency of the asset as well as substantially improve its value and thus would amount to an improvement for which borrowings under the LRBA could not be used.
Improving the asset
In contrast to a repair, the Tax Office considers that an asset is improved if the functional efficiency of the asset (or value) is substantially increased through the addition of new and substantial features or rights or bringing a thing or structure into a more valuable or desirable form, state or condition than a mere repair.
The Tax Office says this is a question of fact and degree to be determined against the state of the asset at the time when the LRBA was entered into. Minor or trifling increases in functional efficiency or value will not amount to an improvement.
Improvements using money not borrowed
While borrowings under an LRBA cannot be used to improve a single acquirable asset that is the subject of the LRBA, the Tax Office says money from other sources could be used to improve (or repair or maintain) that asset. However, any improvements must not result in the acquirable asset becoming a different asset.
A borrowing applied to the original acquirable asset can only be replaced with a "replacement asset" according to the circumstances in s 67B. If the acquirable asset is changed (including by way of improvements) to such an extent that it fundamentally changes the character of the asset such that it becomes a different asset, the exception in s 67A will cease to apply.
However, the Commissioner says that restoring a house destroyed by fire, flood or cyclone by reconstructing a similar house would result in the restoration of the original acquirable asset rather than its replacement.
The draft ruling sets out the following examples to illustrate when a change to a single acquirable asset results in a different asset:
Vacant block on single title: a subsequent subdivision will result in multiple titles. One asset has been replaced by several different assets as a result of the subdivision.
Vacant block on single title: a residential house built on vacant block of land (still single title) will fundamentally change the character of the asset from vacant land to residential premises. This is a different asset.
House and land: house is demolished and replaced by three strata titled units. The character of the asset has fundamentally changed along with the underlying proprietary rights. This has created three different assets.
House and land: land is re-zoned and house is renovated to become commercial premises. The character of the asset has fundamentally changed from residential premises to commercial premises. This is a different asset.
House and land: four-bedroom house destroyed by fire and a four bedroom house is constructed using insurance proceeds. Rebuilding a four bedroom house does not fundamentally change the character of the asset held under the LRBA. Rebuilding the house restores the asset to a house and land.
Date of effect
When finalised, the ruling is proposed to apply to arrangements entered into on or after July 7, 2010 (including an arrangement that is a refinancing of a borrowing of money under an arrangement entered into before, on or after July 7, 2010).
The final ruling may (or may not) be changed from this draft, so those potentially affected should keep an eye out for the final ruling – it is not known when that will be released.
Terry Hayes is the senior tax writer at Thomson Reuters, a leading Australian provider of tax, accounting and legal information solutions.
Terry Hayes is the senior tax writer at <a href="https://www.thomsonreuters.com.au/">Thomson Reuters</a>, a leading Australian provider of tax, accounting and legal information solutions.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/superannuation/20110922-borrowing-smsf-cash-for-property-repairs-the-do-s-and-don-ts">SmartCompany</a>.
 
 
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Dos and don'ts of borrowing SMSF cash for property repairs

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The hospitality industry is suffering under lower consumer demand and higher wages, and now the number of businesses shutting down is exceeding that of new businesses entering the market, experts warn.

The warning comes as new figures from Westpac reveal the value of impaired loans has increased in the construction, accommodation and hospitality industries.
John Hart, chief executive of Restaurant and Catering Australia, says this year has been a dire one for the hospitality industry, saying it's taken a huge toll on the number of businesses that are actually operating in the field.
"This is the first year we've seen the rate of closure exceed the rate of new businesses opening in the industry... that's pretty damning," he says.
"We've always had churn of about 18-19%, and we've always had that number going out of business, but we're just not seeing the number of new businesses coming up to take their place."
As part of Westpac's legal requirements it released figures on impaired loans last week. One of the most significant increases was in the accommodation, cafes and restaurants sectors, which saw impaired loans rise from $134 million to $205 million – growth of 52%.
Hart says the failures are due to a combination of factors, although says higher wages are a key reason why some businesses can't afford to survive.
"This brings up the question of how the industry is going to look moving forward, because you can't sustain having nearly 50% of your revenues going out the door as wages."
"That's part of it, and it's just because wage costs have gotten so high, the average business is not in a profit-making situation. That's associated with this rise in impairment costs."
Overall, Westpac revealed impaired loans grew from $4.58 billion to $4.61 billion, but specific industries reveal a much darker picture.
The construction industry saw its impaired loans grow from $111 million to $180 million over the past year, while finance and insurance also grew from $150 million to $213 million – growth of 42%.
Westpac's figures show the utilities industry also saw its impaired loans rise from $56 million to $133 million, while the dedicated services industry saw impaired loans rise from $176 million to $242 million.
Actual losses for the previous year rose from $1.3 billion to $1.8 billion.
Meanwhile, separate figures from Westpac show the bank is expecting this Christmas to only be a "so, so performance", at least in the retail sector.
The bank explains that as part of its Consumer Sentiment survey, there were additional questions on Christmas gifts. Just over one-third of respondents said they would spend less, while 54% said they would spend the same amount.
Similar results were recorded in 2009, leading Westpac to believe this year will be a lacklustre Christmas season.
"That said, the outlook is mixed rather than bad with attitudes towards gift spending about mid-way between the 'dire' reading in late 2008 (immediately after the GFC) and the upbeat responses seen in 2007, the last 'boom' Christmas for retailers."
This article originally appeared on<a target="_blank" href="https://www.smartcompany.com.au/economy/20111114-more-restaurants-and-cafes-closing-than-opening-as-impaired-loans-jump-for-construction-and-hospitality-sectors"> SmartCompany</a>.
 
 
 
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More restaurants and cafes closing than opening

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.

[smartcode_project:default project_id=139552 project_image_fid=371017]

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.

[smartcode_project_cta:default project_id=139552]

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.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

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.

[smartcode_project:default project_id=149594 project_image_fid=362634]

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.

[smartcode_project:default project_id=135094 project_image_fid=356540]

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.

[smartcode_project:default project_id=150787 project_image_fid=366230]

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.

[smartcode_project:default project_id=143932 project_image_fid=367515]

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.

[smartcode_project:default project_id=150017 project_image_fid=370960]

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.

[smartcode_project:default project_id=4896 project_image_fid=368543]

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.

[smartcode_project:default project_id=4896 project_image_fid=368544]

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.

[smartcode_project:default project_id=4896 project_image_fid=368588]

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.

<section data-scroll-anchor="false" data-testid="conversation-turn-150" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-74" dir="auto">
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.”
</section>

[smartcode_project_cta:default project_id=4896]

Cassidy Knowlton

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