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The Collins Street gallery of photographer Ken Duncan will close at the end of this month, a year and a half after <a href="/expert-insights/investing/photographer-ken-duncan-rents-gallery-space-on-melbournes-collins-street">the site was secured</a>.
The move marks the end of the gallery’s physical presence in Victoria, after 17 years and three different locations in the state. The nature photographer also previously had a gallery in Melbourne's Docklands. In a public release, Duncan wrote that waiting four years for the repair of the Southern Cross Observation Wheel “hit [the gallery] very hard.”
Known for his panoramic landscape photography, Ken and his wife, managing director Pam Duncan, will focus on consolidating their main gallery on the New South Wales Central Coast. Last year, the <a href="/news/landscape-photographer-ken-duncan-lists-matcham-house-and-former-gallery">Duncans sold their Matcham house and gallery</a> property (pictured below) for $1.23 million.
<img src="/images/stories/2013/09/27/matcham-sept-27-one.jpg" alt="matcham-sept-27-one">
The Ken Duncan gallery will be open on the ground floor of 500 Collins Street until the end of the month. Ken Duncan signed a five year lease with CBRE in October 2012, reportedly paying about $1000 per square metre. Savills is currently advertising a half-sized ground level gallery adjacent to the Ken Duncan gallery in 500 Collins Street for $1,400 per square metre. 
The mixed retail and office building was purchased by the Kador Group in 2002 and underwent significant upgrades to improve sustainability, becoming Australia’s first refurbishment project to receive a five star Green Star design rating. 
Office space in the building is currently available to rent at $390 to $440 per square metre. 
Ken Duncan received a Medal of the Order of Australia from the federal government for his services to landscape photography, publishing and the arts.
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jrichardson-uRX5hFdKfN

Ken Duncan to close Melbourne gallery at end of April

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With generally positive labour market figures for March 2014, AMP Capital has renewed its prediction of a rate hike in September or October, virtually ruling out the possibility of another rate cut this year.
According to the latest ABS Labour Force figures, March saw seasonally adjusted employment rise by 18,100 people, ahead of market expectations of a 2,500 person gain.
Following a 48,200 gain in February, employment is now up 1.1% from a year ago.
Unemployment fell in March, now at 5.8% from an upwardly revised figure of 6.1% in February. However, the decrease can largely be explained by a fall in the participation rate, which AMP Capital’s chief economist and head of investment strategy Shane Oliver also believed factored into an “odd slump” in Western Australia’s unemployment figure which fell from 5.9% to 4.9% for the month.
Full time jobs were down 22,000 for the month across Australia, after an 80,000 job gain in February.
According to Oliver, the “messy details” of the ABS’s latest report and the tendency for monthly volatility in labour data highlights the importance of trend data, which shows monthly jobs growth of about 14,000, with unemployment rising slowly.
Given the available data, AMP considers Australia’s job market better off than media reports suggest, though not as strong as implied in February and January’s data. Forward looking employment indicators such as job vacancies, job ads and hiring intentions as detailed in the NAB Business Survey (see below) suggest gradual improvements in the jobs market. 
<img src="/images/2014/04/15/chart%20april%2015%20one.png" alt="">
While AMP expects that the rising value of the Australian dollar is likely to become a cause for concern for the Reserve Bank, the investment house predicts that the RBA will “renew jawboning efforts” to suppress the dollar’s international value in the coming months, rather than adjusting interest rates. The Australian dollar sits at US$0.94 at the time of writing.
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Employment up for March with rate hike expected later this year: AMP

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After looking at what that sum will get you <a href="/expert-insights/investing/what-will-sydney-s-median-price-get-you-around-the-world">around the world</a>, Property Observer returns home to see what Sydney's median house price can purchase you elsewhere in Australia.
According to RP Data, the median sale price for a Sydney house was $713,000 in the last quarter.
Victoria: <a href="https://www.realestate.com.au/property-house-vic-preston-116686567" target="_blank">7 Brown Street, Preston</a>
<img src="/images/2014/04/14/preston%20april%2014.jpg" alt="">
<img src="/images/2014/04/14/preston%20april%2014%20four.jpg" alt="">
<img src="/images/2014/04/14/preston%20april%2014%20two.jpg" alt=""><img src="/images/2014/04/14/preston%20april%2014%20three.jpg" alt="">
This art deco era home is located in Preston, nine kilometres north of the Melbourne CBD. The three bedroom house has one central bathroom and another separate powder room in addition to a formal dining area, living room and timber cabinet kitchen.
This Preston home’s substantially sized backyard also includes a covered outdoor entertaining area and separate studio and workshop.
The median house price in <a href="/news">Preston</a> is $622,000, according to RP Data.
Vendors are expecting between $660,000 and $720,000.
<ul>
<li>Listing price: $660,000 to $720,000</li>
<li>Land size: 645 square metres</li>
<li>Bedrooms: Three</li>
<li>Minutes to drive to CBD: 20 (Melbourne)</li>
</ul>
<img src="/images/2014/04/14/preston%20april%2014%20floor%20plan.gif" alt="">
South Australia: <a href="https://www.realestate.com.au/property-house-sa-clovelly+park-116637595" target="_blank">37 Norrie Avenue, Clovelly Park</a>
<img src="/images/2014/04/14/clovelly%20park%20april%2014.jpg" alt="">
<img src="/images/2014/04/14/clovelly%20park%20april%2014%20two.jpg" alt="">
<img src="/images/2014/04/14/clovelly%20park%20april%2014%20three.jpg" alt="">
<img src="/images/2014/04/14/clovelly%20park%20april%2014%20four.jpg" alt="">
Substantially larger than the average Sydney home, this five bedroom one storey in the inner Adelaide suburb of <a href="/news">Clovelly Park</a> is three years old.
The Norrie Avenue home comes with two large bathrooms, formal and casual living rooms, a home theatre, a kitchen with walk in pantry and a three car garage. The 836 square metre land plot also houses a pool.
This home is expecting $695,000 to $725,000.
<ul>
<li>Listing price: $695,000 to $725,000</li>
<li>Land size: 800 square metres</li>
<li>Bedrooms: five</li>
<li>Minutes to drive to CBD: 14 (Adelaide)</li>
</ul>
<img src="/images/2014/04/14/clovelly%20park%20april%2014%20floor%20plan.jpg" alt="">
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ACT: <a href="https://www.realestate.com.au/property-house-act-conder-115638939" target="_blank">25 Montgomery Place, Conder</a>
<img src="/images/2014/04/14/conder%20april%2014.jpg" alt="">
<img src="/images/2014/04/14/conder%20april%2014%20two.jpg" alt="">
<img src="/images/2014/04/14/conder%20april%2014%20three.jpg" alt="">
<img src="/images/2014/04/14/conder%20april%2014%20four.jpg" alt="">
For Sydney’s median price of $713,000, a buyer could nab this five bedroom house in <a href="/news">Conder</a>, in Canberra’s Lanyon Valley.
With views to the Brindabella mountains, the home also has three separate living spaces and two bathrooms, one of which features a spa.
The single storey home is listed at $699,000 plus.
<ul>
<li>Listing price: $699,000+</li>
<li>Land size: 720 square metres</li>
<li>Bedrooms: five</li>
<li>Minutes to drive to CBD: 24 (Canberra)</li>
</ul>
<img src="/images/2014/04/14/conder%20april%2014%20floo%20plan.gif" alt="">
Northern Territory: <a href="https://www.realestate.com.au/property-house-nt-rapid+creek-114700763" target="_blank">Rapid Creek</a>
<img src="/images/2014/04/14/rapid%20creek%20april%2014.jpg" alt="">
<img src="/images/2014/04/14/rapid%20creek%20april%2014%20two.jpg" alt="">
<img src="/images/2014/04/14/rapid%20creek%20april%2014%20three.jpg" alt="">
This four bedroom, two bathroom home with a swimming pool is listed for $700,000.
The open plan house with air conditioning is located in Darwin’s <a href="/news">Rapid Creek</a>, where the median sale price for February was $732,000.  
<ul>
<li>Listing price: $700,000</li>
<li>Land size: 929 square metres</li>
<li>Bedrooms: four</li>
<li>Minutes to drive to CBD: 15 (Darwin)</li>
</ul>
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Queensland: <a href="https://www.realestate.com.au/property-house-qld-rockyview-116697403" target="_blank" style="line-height: 1.3em;">13 Del Close, Rockyview</a>
<img src="/images/2014/04/14/rockyview%20april%2014.jpg" alt="">
 <img src="/images/2014/04/14/rockyview%20april%2014%20two.jpg" alt="" style="line-height: 1.3em;">
<img src="/images/2014/04/14/rockyview%20april%2014%20three.jpg" alt="">
Listed at $710,000, this five bedroom three bathroom house is located in <a href="/news">Rockyview</a>, north of Rockhampton.
The one storey home sits on a one acre block with a pool. It was purchased by the current owners for $410,000 in 2004.
The median house sale price in Rockyview is $562,500.
<ul>
<li>Listing price: $710,000</li>
<li>Land size: 4,217 square metres</li>
<li>Bedrooms: five</li>
<li>Minutes to drive to CBD: 18 (Rockhampton)</li>
</ul>
Tasmania: <a href="https://www.realestate.com.au/property-house-tas-otago-112829231" target="_blank">27-29 Otago Bay Road, Otago</a>
<img src="/images/2014/04/14/otago%20april%2014.jpg" alt="">
<img src="/images/2014/04/14/otago%20april%2014%20two.jpg" alt="">
<img src="/images/2014/04/14/otago%20april%2014%20three.jpg" alt="">
<img src="/images/2014/04/14/otago%20april%2014%20four.jpg" alt="">
<img src="/images/2014/04/14/otago%20april%2014%20five.jpg" alt="">
Vendors are expecting a sale price in the early to mid $700,000s for this three bedroom waterfront home.
This Otago Bay house sits right on the River Derwent, offering buyers panoramic water views. With split level living spaces inside, there are also substantially sized outdoor entertaining areas, with a deck running the length of the house.
With private mooring, the property also comes with a separate private cottage with kitchenette at the water’s edge. February’s median house sale price for <a href="/news">Otago</a> was $435,000.
<ul>
<li>Listing price: Low to mid $700,000s</li>
<li>Land size: 2,466 square metres</li>
<li>Bedrooms: three</li>
<li>Minutes to drive to CBD: 15 (Hobart)</li>
</ul>
<img src="/images/2014/04/14/otago-april-14-floor-plan.jpg" alt="">
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Western Australia: <a href="https://www.realestate.com.au/property-house-wa-west+perth-116623959" target="_blank">396 Bulwer Street, West Perth</a>
<img src="/images/2014/04/14/west%20perth%20april%2014.jpg" alt="">
<img src="/images/2014/04/14/west%20perth%20april%2014%20three.jpg" alt="">
<img src="/images/2014/04/14/west%20perth%20april%2014%20four.jpg" alt="">
Another 1920s era home, this iron and brick workers’ cottage is set on 176 square metres of land in the inner city suburb of <a href="/news">West Perth</a>.
The two bedroom renovated period home still retains many of its original features, including ornate fireplaces and arched French windows.
Bordering on the Perth CBD, West Perth had a median house sale price of $1,348,229 in February, according to RP Data. This single fronted cottage on a subdivided plot is selling with expectations in the low $700,000s.
<ul>
<li>Listing price: Low $700,000s</li>
<li>Land size: 176 square metres</li>
<li>Bedrooms: 2</li>
<li>Minutes to drive to CBD: Six (Perth)</li>
</ul>
New South Wales: <a href="https://www.realestate.com.au/property-house-nsw-merrylands-116562439" target="_blank">1 Charlotte Street, Merrylands</a>
<img src="/images/2014/04/14/merrylands%20april%2014.jpg" alt="">
<img src="/images/2014/04/14/merrylands%20april%2014%20two.jpg" alt="">
<img src="/images/2014/04/14/merrylands%20april%2014%20three.jpg" alt="">
Vendors are accepting offers over $690,000 for this three bedroom, one bathroom home in the Western Sydney suburb of Merrylands.
Located about 25 kilometres west of the Sydney CBD, the median house sale price in <a href="/news">Merrylands</a> is $650,000.
This home, set on 847 square metres, was last sold for $500,000 in 2011. 
<ul>
<li>Listing price: $690,000+</li>
<li>Land size: 847 square metres</li>
<li>Bedrooms: three</li>
<li>Minutes to drive to CBD: 29 (Sydney)</li>
</ul>
<img src="/images/2014/04/14/merrylands%20april%2014%20floor%20plan.jpg" alt="">
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What can you buy for Sydney’s median price around Australia?

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The majority of one bedroom apartment and penthouse stock at the 37 storey Opus Tower has been sold or is under reservation, presumably going to offshore buyers prior to the tower's Australian launch on May 29. Only 31 two bedroom apartments and 40 premium residences remain, with prices starting at $665,000.
The property, which was heavily marketed in Hong Kong and mainland China, comprises 246 residences, including one and two bedroom apartments and penthouses. Marketing efforts include a cross promotional deal with Qantas, where registrants were entered into a draw to win 1 million Qantas Points, and the opportunity to earn 1 point per $1 spent on property purchases in the tower. Opus Tower is not the first off-the-plan property to be promoted through Qantas points by LK Properties, who <a href="/news/melbourne-off-the-plan-units-sell-with-bonus-qantas-frequent-flyer-points">launched the Qantas deal mid last year</a>.
Construction has been approved after four years of delays. 
Plans for the residential tower first emerged in 2010 after Tapil Pty Ltd obtained a planning permit for redevelopment at 57-61 City Road, Southbank for 246 apartments, two retail premises, three offices and parking for associated cars (see below).
<img src="/images/2014/04/11/planning%20details.png" width="460" height="264">
Planning details from the City of Melbourne, 2010
However, after submitting plans for the building, Tapil ran into a series of roadblocks over minimum boundary setbacks on the building's east and west borders. Amended plans were submitted to the City of Melbourne, who were ordered to approve the amended plans by the Victorian Civil and Administrative Council in April 2011.
Tapil then listed the 912 square metre site with planning permits through Lemon Baxter in May 2011.
<img src="/images/2014/04/11/jr-arpil-11-tear-out.jpg" alt="">
57-61 City Road's listing through Lemon Baxter. Source: The Age
It was then listed again in <a href="https://www.colliers.com.au/News/News-details.aspx?NewsId=%7b030DCF51-D335-40A5-BDC7-ED719E20B588%7d" target="_blank">September 2011</a> through Colliers International. Reportedly, the site sold for $11.9 million last year with final plans greenlit in late February 2014.
Opus Tower will be located at 57-61 City Road, Southbank, near the Eureka Tower, fronting onto Fawkner Street and City Road. Designed by Artisan Architects, the tower will have a white, black and gold façade with textured concrete and metal components. There will be a ground floor retail precinct, and internal features will include curved, gold chained walls in the building’s lobby.
Larry Kestelman’s LK Property Group is currently accepting registrations from Australian for pre-release access to the project’s two bedroom residences. The apartments, marketed by Amity Real Estate, will offer floor to ceiling windows, timber flooring and Essastone benchtops in the kitchens. In May developers will launch the remaining stock to local buyers, including a premium selection of 40 residences in the tower. 
<img src="/images/2014/04/11/600_floorplanT06.png" alt="">
Floor plan for penthouse option A at Opus Tower, Melbourne.
<img src="/images/2014/04/11/2.jpg" alt="">
Floor plan for two bedroom apartment Opus Tower, Melbourne.
 
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Majority of stock sold prior to local launch of Southbank's Opus Tower development

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Now that the dust has settled, Property Observer takes a look at what we learned over the course of The Block: Fans v Faves.
<ol>
<li>
Fitout may fade, but aspect is forever. While Steve and Chantelle’s renovating skills may have left a lot to be desired at times, their street-fronting apartment had that all-important north facing aspect. With windows all along their western wall and huge arched windows at the north, their apartment was flooded with light. Should they wish to, changing the apartment’s furnishings will cost the buyers relatively little. 
</li>
<li>
Use the building’s natural features. Contestants this season were lucky enough to makeover one of the most interesting buildings in Albert Park, the former Dux Picture Theatre. With townhouses and apartments in the suburb already in high demand, the rarity of The Block’s warehouse conversions were a huge pull for buyers and audiences. All four teams took advantage of this fact, playing up the industrial elements of their properties with complimentary timber work and exposed red brick. 
</li>
<li>
Location matters, even in TV land. The Block’s producers have an impressive track record now of picking buildings in blue chip inner city suburbs, where demand runs hot and residences are hard to come by. As buyers’ advocate Frank Valentic noted, the couple who purchased the winning apartment this series had been seeking a home in Melbourne’s inner south for some time. With another series of The Block planned for Prahran, the trend is set to continue.  </li>
<li>
Treat your tradies well. Trouble with tradies was a running theme on The Block: Fans v Faves. Poor planning meant that teams at times had to re-do their work with different tradespeople, while disputes lead Alisa and Lysandra to ditch one of their employees. When Property Observer spoke to contestant and professional carpenter Kyal Demmrich, he said that communication was key.  “If you’re going to employ a tradesperson, you’ve got to be upfront and clear about your expectations,” said Kyal. “And if you’re not, you’ve got to voice it early on.” Winning couple Steve and Chantelle have the right idea – they’ve been quoted saying that the first item on their spending agenda is a big party for all their tradies. 
</li>
<li>
Reno smart, sell smarter. With the least experience and the least money, Steve and Chantelle relied on strategy, channelling their energies into the kitchen and living spaces and their master bedroom, two of the most valuable areas for buyers. But it was their clever choice to go last in the auction proceedings that was the couple’s best play, with high demand and low supply the perfect ingredients for a winning price.
</li>
</ol>
For our full coverage of The Block: Fans v Faves, click below
<a href="/expert-insights/buying/the-buyers-behind-the-block-fans-v-faves">The buyers behind The Block: Fans v Faves</a>
<a href="/expert-insights/buying/steve-and-chantelles-auctioneer-david-wood-on-the-blocks-record-breaking-win">Steve and Chantelle's auctioneer David Wood on The Block's record breaking win</a>
<a href="/news/substance-over-style-as-chantelle-and-steve-win-the-block-2014-fans-v-faves">Substance over style as Chantelle and Steve win The Block 2014 Fans V Faves</a>
<a href="/expert-insights/building/on-the-auction-block-our-faves-for-the-finale">On the auction Block: Our faves for the finale</a>
<a href="/expert-insights/buying/kyal-demmrich-on-the-trials-and-triumphs-of-the-block">Kyal Demmrich on the trials and triumphs of The Block</a>
<a href="/expert-insights/the-block-on-show-at-this-weekends-open-for-inspection">The Block on show at this weekend's open for inspection </a>
Open for inspection: The Block Fans v Faves doors open to the public this weekend
<a href="/news/raw-timber-and-red-brick-industrial-design-on-the-block">Raw timber and red brick: Industrial design on The Block</a>
<a href="/news/art-styles-for-apartment-d-cor-lessons-from-the-block">Art styles for apartment décor: Lessons from The Block</a>
<a href="/news/creating-the-perfect-new-york-style-loft-lessons-from-the-block">Creating the perfect New York style loft: Lessons from The Block</a>
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Five lessons from The Block: Fans v Faves

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Quest Abbotsford serviced apartments is set to open this month, one of eight new Quest properties to launch this year.
Part of Salta Properties’ $1.5 billion Victoria Gardens Precinct, Quest Abbotsford is a joint venture between Quest Serviced Apartments and the privately owned Salta Properties.
Situated next to the Terminus Hotel at 611 Victoria Street, Quest Abbotsford will comprise 93 new studio, one, two and three bedroom serviced apartments. Prices begin at $169 per night for a studio apartment.
According to Quest chairman Paul Constantinou, the upcoming opening of Quest Abbotsford marks the beginning of a growth period for the company.
<blockquote>
The upcoming opening of Quest Abbotsford apparently marks the beginning of a growth period for the company
</blockquote>
“Demand for extended stay accommodation is exceeding supply in Australia, which is why we are opening seven new properties across a range of CBD, suburban and regional locations in 2014. Quest Abbotsford will kick off this period of major growth for Quest as we continue to respond to the needs of business travellers,” said Constantinou.
The franchise has been accepting bookings and is set to open on April 28. Quest Abbotsford is one of eight new Quest properties set to open this year, along with projects at King William South in Adelaide’s CBD, Berrimah in the Northern Territory, Woolloongabba in Queensland, Wellington and Whangarei in New Zealand, Newcastle West in New South Wales and Melbourne Airport.
Despite the suggestion that it marks the beginning of a period of growth, it appears this may have already started.
Quest looked to <a href="/expert-insights/investing/quest-lists-sydney-olympic-park-serviced-apartments-as-appetite-for-australian-hotels-rises">sell their Sydney Olympic Park offering, after listing it in May last year</a>, seeking $39 million, to beef up funds for more than a dozen new projects. In June last year they <a href="/expert-insights/investing/surging-quest-leads-strongly-growing-australian-serviced-apartment-market">recorded 28% growth over two years</a>, leading the strongly growing serviced apartment market.
In September, they also opened a <a href="/news/quest-opens-second-serviced-apartment-hotel-in-mackay-following-positive-business-conditions">serviced apartment offering in Mackay</a>, their second in the area. There have also been <a href="/expert-insights/investing/quest-to-build-tullamarine-melbourne-airport-serviced-apartments">reports of plans to build in Melbourne's Tullamarine</a>.
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Quest Abbottsford serviced apartments to open this month

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With the properties on The Block going for record prices, everybody is wondering who paid $2.47 million for Steve and Chantelle’s apartment at 1/47 O’Grady Street.
According to Advantage Property Consulting managing director Frank Valentic, who represented the winning apartment’s buyers at Tuesday’s auction, 1/47 went to a young professional couple who had been seeking a home in Melbourne’s blue chip inner south.
The surgeon and marketer from Southbank were keen on an Albert Park residence after missing out on a property in St Kilda earlier this year. Valentic, who bid on all four apartments, said of his three interested clients, the couple that secured 1/47 were the most emotionally motivated.
“They’re in their thirties, looking to start a family and Albert Park is a great location for it,” he said.
The other two buyers Valentic represented on the night were businessmen looking to purchase apartments at O’Grady Street as investments, who both missed out.
“The investors were very disappointed, but they were unemotional buyers. When we reached our limit, we pulled out.”
The $2.47 million sum was approaching the owner occupier’s maximum price threshold, said Valentic.
“That last bid – we were right on the edge there,” he said. “We got in by the skin of our teeth on the last one.”
Independent valuer and WBP Property chief executive Greville Pabst agreed that emotions were a significant factor in the record-breaking prices seen last night.
“This was never going to be about price or valuation or property fundamentals,” said Pabst.
“There were other drivers – the amount of promotion and marketing by Channel 9, euphoria, the celebrity factor – that really drove the price. It was more about the experience rather than the property.”
“Buyers are thinking, ‘I can afford to buy that property, I want almost to brag to my friends that I bought The Block.’ So price was a secondary factor.”
Pabst pointed to another big celebrity sale which had similar results.
“Another example of that was the former Prime Minister Julia Gillard’s house in Altona. We were expecting high $600,000s to early $700,000s, and it ended up at $950,000 plus.”
On Channel 9’s A Current Affair, Pabst gave Brad and Dale’s apartment the highest value at $2.25 million, followed by Kyal and Kara’s, Alisa and Lysandra’s and finally Steve and Chantelle’s – the exact reverse of the outcomes on auction day. (For what it’s worth, Property Observer predicted that Brad and Dale’s apartment would win, with Steve and Chantelle’s coming in second)
The final results: 
<ol>
<li>Steve and Chantelle, 1/47 O’Grady: $2.47 million ($636,000 above the adjusted reserve)</li>
<li>Alisa and Lysandra, 3/47 O’Grady: $2.375 million ($616,000 above the adjusted reserve)</li>
<li>Kyal and Kara, 2/47 O’Grady: $2.44 million ($567,250 above the adjusted reserve)</li>
<li>Brad and Dale, 4/47 O’Grady: $2.31 million ($507,250 above the adjusted reserve)</li>
</ol>
According to Pabst, the sales order played into the final result. Brad and Dale's property was auctioned first, then Kyal and Kara's, the twins', and Steve and Chantelle's.
“The order of proceedings was definitely a factor. It does come down to supply and demand. If there are seven or eight buyers and three have sold, then you have three or four people competing for the final apartment. But it’s an emotion driven purchase, rather than a purchase based on fundamental value,” he said.
“Apartment 1 was the most inferior but got the highest result.
“The quality of the cabinetry was inferior. The position of the staircase (it was a spiral metal staircase), the general layout of the apartment and the quality of the fixtures and finishes - when you’re spending $2 million plus, these details count.”
While he believes the final sales prices were 10-15% above the properties’ true values, he said the rarity and location of the properties would also have driven up prices.
Valentic, who had also picked Brad and Dale’s apartment as the winner, thought that if the order of sales was shaken up, the final results may have been different.
“The order will always have an influence,” he said. “So if the order was reversed and Brad and Dale weren’t first – if they were close to last, they would have had a better chance.”
While the young couple who bought Steve and Chantelle’s renovation preferred that apartment, they would have bid on the other properties if they had missed out on 1/47 early on.
“We were going for the two north facing ones for the home buyers, and the preference was for Chantelle and Steve’s apartment. But if those two north facing ones had gone earlier, they would have had a go at the other ones. They just wanted to be in the area,” said Valentic.
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The buyers behind The Block: Fans v Faves

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Renovation first timers Steve and Chantelle surprised Australia when they were <a href="/expert-insights/buying/steve-and-chantelles-auctioneer-david-wood-on-the-blocks-record-breaking-win">revealed last night</a> as the winners of The Block: Fans v Faves. Property Observer spoke to auctioneer David Wood, who secured a $2.47 million sale price for the couple.
The Geelong chimney sweep and milliner attracted the highest ever price above reserve on the series. They are also the first Victorian team to ever with The Block, a factor Wood said is not lost on the Victoria-based hockingstuart team.
“We’ve helped them sell a property before, some years ago,” said Wood. “So to be involved with them now, and to be able to create this result with them, is a great outcome.”
The first item of the Tuesday afternoon auction was to decide on the order of sale, a decision Wood believes played into the final result.
<blockquote>
“We’re thrilled with the win, and to set a record price for The Block.”
</blockquote>
“It was determined that we were going to go last,” said Wood, director of hockingstuart Albert Park. “We had substantial interest in the home, so we weren’t afraid to go last.  There were two buyers in particular who had come through before the auction and were very interested in the apartment.
“I think its value was probably underpinned by the previous sales. It was quick to start, and to start at a level that was already pre-determined by the other sales, rather than having to go through a slower start.”
As for hockingstuart’s strategy for the sale, Wood said that the team applied the same fundamentals to selling the underdogs’ apartment as they would for any other property.
“A well conducted auction can play a huge role in maximising price gains,” said Wood. “It’s all about timing – if you go too slow or too fast for someone, you can throw them off the scent.
“As for the marketing, we applied the same approach marketing their property as we would with any other property.
“I think it’s fair to say we came from behind; we were coming last at the turn. We really had to rally the troops and do everything we could to ensure that every potential buyer was covered.
“We took it offshore with a couple of Chinese websites that generated a lot of interest, in addition to going to local markets.”
In the end, the property went to a young local couple. The family had been seeking a property in the area for some time, in what Wood said has been a strong year for the local market, with the last sale of a comparable residence in the village attracting $2.6 million.
As for the chances of a repeat performance, Wood said that he would go back to The Block again if the opportunity arose.
“We’d be delighted to,” said Wood. “We’re thrilled with the win, and to set a record price for The Block.”
 
For our full coverage of The Block: Fans v Faves, click below
<a href="/news/substance-over-style-as-chantelle-and-steve-win-the-block-2014-fans-v-faves">Substance over style as Chantelle and Steve win The Block 2014 Fans V Faves</a>
<a href="/expert-insights/building/on-the-auction-block-our-faves-for-the-finale">On the auction Block: Our faves for the finale</a>
<a href="/expert-insights/buying/kyal-demmrich-on-the-trials-and-triumphs-of-the-block">Kyal Demmrich on the trials and triumphs of The Block</a>
<a href="/expert-insights/the-block-on-show-at-this-weekends-open-for-inspection">The Block on show at this weekend's open for inspection </a>
Open for inspection: The Block Fans v Faves doors open to the public this weekend
<a href="/news/raw-timber-and-red-brick-industrial-design-on-the-block">Raw timber and red brick: Industrial design on The Block</a>
<a href="/news/art-styles-for-apartment-d-cor-lessons-from-the-block">Art styles for apartment décor: Lessons from The Block</a>
<a href="/news/creating-the-perfect-new-york-style-loft-lessons-from-the-block">Creating the perfect New York style loft: Lessons from The Block</a>
 
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Steve and Chantelle's auctioneer David Wood on The Block's record breaking win

<html><body>
The rookie renovators took out the $100,000 prize on top of a $636,000 profit on the series finale of The Block: Fans v Faves.
Despite copping the lion’s share of the criticism this season, Geelong couple Steve O’Donnell and Chantelle Ford attracted the highest price for their warehouse conversion which sold for $2.47 million.
All four apartments on The Block sold within a relatively small price margin, with Brad and Dale bringing up the rear with $2.31 million.
The results were as follows:
<ol>
<li>Steve and Chantelle, 1/47 O’Grady: $2.47 million ($636,000 above the adjusted reserve)</li>
<li>Alisa and Lysandra, 3/47 O’Grady: $2.375 million ($616,000 above the adjusted reserve)</li>
<li>Kyal and Kara, 2/47 O’Grady: $2.44 million ($567,250 above the adjusted reserve)</li>
<li>Brad and Dale, 4/47 O’Grady: $2.31 million ($507,250 above the adjusted reserve)</li>
</ol>
The top two teams would hardly have minded losing the final challenge to Kyal, Kara, Brad and Dale, who got $27,250 lopped off their reserve price against the twins’ and Steve and Chantelle’s $16,000 reserve cut.
Steve and Chantelle originally preferred apartment 2 for its city views, but after losing a coin toss to Kyal and Kara, chose apartment 1. While Kyal and Kara’s apartment at 2/47 offers both a sunny northerly aspect and city views, 1/47 also sits at the northern street side of the warehouse, with the advantage of windows all along the building’s western side.
Despite the team’s inexperience and the criticisms levelled against their styling credentials, the apartment’s stellar location had them take out the major prize. As one property expert commented, “You can change the furnishings, but you can’t change the aspect.”
But it seemed that perhaps one of the greatest factors at play was the order in which the auctions took place, with prices ascending with each successive auction. Each team nominated their position in the proceedings, with Brad and Dale choosing to go first, followed by Kyal and Kara, then Alisa and Lysandra before Steve and Chantelle.
By volunteering for final position, the winning couple were able to take advantage of buyer desperation with all other apartments already sold.
Proceedings opened with Brad and Dale’s apartment, auctioned by Karl Gillon of Buxton Albert Park. A vendor bid was placed at $1.75 million, finishing at $2.31 million. Kyal and Kara’s apartment was auctioned by Warwick Gardiner of Greg Hocking Holdsworth, who brought in $2.44 million for the married couple. Next was Alisa and Lysandra’s tri-level, auctioned by Anton Wongtraken of Dingle Partners, who handled the sale of their winning apartment on The Block: Sky High. 
Steve and Chantelle’s auction by David Wood of Hocking Stuart saw two buyers’ agents locked in a bidding war, with Block mainstay Frank Valentic of Advantage Property Consulting securing the final apartment for a young couple at $2.47 million. The result makes Steve and Chantelle's profit margin the highest ever seen in The Block's 11 year history.
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Substance over style as Chantelle and Steve win The Block 2014 Fans V Faves

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The development set to be Sydney’s tallest residential tower is set to release its second stage of stock this month.
Stage two of the $680 million Greenland Centre development will see 200 one, two and three bedroom apartments hit the market, accompanied by the release of several luxury penthouses. All 300 apartments offered in the first sales release have been sold.
Designed by BVN Donavan Hill and Nik Karalis with Domenic Alvaro of Australian architectural firm Woods Bagot, Greenland Centre will be 66 storeys high upon completion.
Different apartments in the complex will offer ocean and mountain views, along with views across the Sydney Harbour and Hyde Park. Buyers of apartments on the upper levels of the 235 metre high building will enjoy uninterrupted panoramic views.
The tower comes from Greenland Holding Group Co, a Chinese state-owned developer. There are also plans for commercial and retail spaces on the site, including a boutique hotel. The hotel will include a swimming pool, a roof terrace and concierge services. 
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Greenland Centre launches second sales stage

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Jessie Richardson

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