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49-51 St Vincents Place, <a target="_blank" title="Albert Park" href="/news">Albert Park</a>, VIC
An imposing piece of the Rochester Terrace has been listed for sale.
Set on the dress circle of St Vincent Gardens, the adjoining 1897 Victorian terraces offer six bedrooms and five bathrooms behind its stunning façade of elegant Corinthian columns. There are also formal and informal living and dining rooms with a flexible floorplan. The opportunity to open up the two terraces has yet to be taken advantage of.
The St Vincent Place precinct was designed to emulate elegant squares found in London. Now registered with the National Trust of Australia, St Vincent Place is home to terraced and detached houses, including the architecturally significant Rochester Terrace, a row of imposing double-storey Victorian houses.
Building commenced in 1869, and it eventually became 10 separate terrace mansions and is still deemed to be the most commanding, coherently designed terrace row in Melbourne. They were constructed by the eminent Emerald Hill auctioneer, agent and speculator WP Buckhurst, who initially built the terraces now numbered 33-43 and in 1879 added the four additional buildings at what is now 45-51.
Architect Charles Boykett designed the terrace, with his son Charles Bolten Boykett completing the row after his father's death.
The terrace housed prominent citizens including bookseller George Robertson, the biscuit manufacturer, TB Guest and the homeopathic chemist R Martin. Like the gardens, it was based on a 19th-century London model that remains largely faithful to its original design, with a bowling green and tennis courts.
The St Vincent Place offering is listed through Alex Schiavo and Tom Staughton at <a target="_blank" title="Kay &amp; Burton" href="https://www.kayburton.com.au/?page=Page&amp;load=ListB&amp;do=search&amp;list=AlbertParkPlus">Kay &amp; Burton Albert Park</a>. The property last sold in 2004 at $3.61 million. More than $5.5 million is being sought.
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jchancellor-FAypfDUnLy

Imposing 19th-century Albert Park mansion on the market

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Box 40, one of the 85 bathing boxes at Melbourne's Brighton Beach, is set for September 3 auction.
With $190,000-plus expectations, it seems unlikely to challenge the recent record price for the Dendy Street location.
That was a brand-new bathing box that fetched a record $260,000, even though four other boxes were concurrently listed for private sale with $185,000 plus hopes in mid-June this year.
There are now three other listings for private-treaty sale.
Set on one of the most photographed locales in Australia, Box 40 comes with new weatherboards and a Balinese-style ceiling.
"These highly sought icons of Brighton are a proven investment, and number 40 won't last long," Katie Reid at Nick Johnstone Real Estate says.
"This is possibly the most practically appointed bathing box of them all with a retractable deck/ramp for easy water-sport equipment storage and access."
Bathing boxes existed in Brighton as far back as 1862, with the 85 boxes at Dendy Street being a throwback to the 19th century, when the increasing popularity of sea bathing clashed with Victorian-era prudishness.
The boxes hit $200,000 for the first time in 2007, but during the 2008-2009 global financial downturn there was a $171,000 sale.
Box 73 is currently listed at $180,000 through Buxton Brighton agent Chris Carrington.
“This was listed back in March but there have been a few newer ones available so harder to sell now and will ramp it up once the weather improves,” Carrington says.
Box 72 is for sale through Helen Taylor at Hodges Brighton. Sam Paynter at the Hodges Brighton has $180,000 to $200,000 hopes for Box 16.
The first public auction was in 1999, when a box sold for $60,000.
The local council owns the land for each box and charges an annual licence fee of about $600.
Only Bayside ratepayers or residents are allowed to own one. They are typically 2.4 metres by two metres by two metres.
There are about 1800 bathing boxes and boat sheds around Port Phillip and Western Port Bay.
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Early spring test for Brighton’s bathing box market  

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Tasmania, Australia’s least expensive property market, has become even cheaper.
Its median house price fell 1.6% in the past year to $305,000, according to the Real Estate Institute of Tasmania. It was $330,000 in the March quarter.
At the same time the volume of house sales in Tasmania slumped 10.2% to turnover levels that haven’t been seen since the early 1990s.
Sales volume in Hobart was down by 5.6%, Launceston volumes by 5.2% and sales in the state’s northwest fell 13.4%.
The turnover data continues a trend evident in the 2010 June quarter, which reported a 20.8% reduction in house sales across Tasmania compared with the 2009 quarter volumes.
Sandy Bay was the most expensive suburb in the June quarter, with a $647,500 median, followed by Battery Point at $645,500. Sandy Bay’s median price in the 2010 was $655,000 and $599,000 in 2009.
Four other suburbs on the 10 most expensive suburbs in the state have recorded strong gains over the past two years, including Seven Mile Beach, up from $398,000 in the 2009 June quarter to $475,000; West Hobart up from $427,500 to $495,000; Sandford up from $426,000 to $497,500 and Mount Nelson up from $417,500 in 2009 to $615,000.
But two of the cheapest suburbs on the 10 cheapest locations recorded significant declines in median prices, with Ravenswood down from $190,000 in June 2009 to $142,500 and Gagebrook down from $160,250 to $150,000.
REIT president Adrian Kelly recently noted that with many overpriced properties on the market that “anyone currently selling a house in Tasmania needs to be willing to meet market prices or be ready for their house to sit on the market for up to a year or more".
The release of the data followed the recent new home lending figures from the Australian Bureau of Statistics that showed the number of loans for the construction or purchase of a new dwelling fell by more than 12% in June.
Housing Industry Association executive director Stuart Clues says the figure is a warning that things are softening in the housing market.
"New home lending is a leading indicator of residential building activity, so unfortunately the current low number of loans reinforces HIA's view that dwelling starts will fall by at least 10 per cent in calendar year 2011," he says.
Master Builders Association Tasmania executive director Michael Kerschbaum notes that in recent years the supply of more than 3,000 houses each year coupled with a population growth of about 4,000 a year means the state is almost square.
Photo courtesy of Tourism Tasmania and Nick Osborne
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Tasmania even more affordable as sales volume shrinks

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Mining towns dominate the latest list of real estate investment No -Go Zones compiled by national property analyst Terry Ryder.
The 2011 list includes the mining towns of Kalgoorlie and Mount Isa, as well as iconic sea-change locations Byron Bay, Gold Coast and Noosa.
“Mining towns have great allure for property investors because they often provide high rental returns and rapid capital growth,” Ryder says.
“But mining towns are among the most perilous locations for investors. They sit at the extreme far end of the risk spectrum.
“Mining towns have volatile markets that depend on buoyancy in the resources sector,” he says.
“Often the prices and rents in mining towns are sustainable only while a resources boom lasts.”
Ryder’s comments preceded the June quarter figures from the Real Estate Institute of Western Australia that show property in the Pilbara cooled a little, with the Port Hedland median pulling back by 5% and Karratha by 9%.
Real Estate Institute of Western Australia president Alan Bourke notes the market has been “extraordinary” in the iron ore belt.
Ryder, the founder of the <a href="https://www.hotspotting.com.au" title="hotspotting.com.au" target="_blank">www.hotspotting.com.au</a> website, which focuses on forecasting Australia’s next property hotspots, has also nominated sea change locations among his leading ‘anti-hotspots’ locations.
For example, Ryder believes one of the least-known factors in Australian real estate is that iconic sea-change locations tend to have poor capital growth records.
“Investors often assume that locations that have high population growth and/or strong tourism markets will be real estate hotspots, showing superior growth.
“In reality such locations often deliver inferior gains for investors,” he says.
“The Gold Coast, Sunshine Coast and Byron Bay are prime examples of iconic sea-change areas that are not prime real estate performers for investors.”
“These three famous sea change locations don’t have a great record on price growth, with the Gold and Sunshine coasts plagued by over-supply and falling prices and Byron Bay facing court battles and erosion issues.”
Ryder also describes master-planned communities as having “lots of bells and whistles” but poor long-term capital growth.
He says urban renewal sites in Melbourne affected by oversupply may have had concerns about site contamination issues.
He considers prestige suburbs in capital cities as being over-heated and over-valued.
The full list of hotspotting.com.au 2011 No-Go Zones are:
<ul>
<li>Master-planned communities – expensive, poor long-term capital growth</li>
<li>Mining towns (general) – volatile, dependent on one industry, pollution issues</li>
<li>Mining towns (Kalgoorlie) – falling prices, poor rental returns, volatile</li>
<li>Mining towns (Mount Isa) – falling prices, poor capital growth, pollution</li>
<li>Population growth leaders – oversupply, high vacancy rates, lower capital growth</li>
<li>Prestige suburbs major cities – overvalued, volatile, unaffordable, lower capital growth</li>
<li>Sea change icons (Byron Bay) – expensive, erosion, court battles</li>
<li>Sea change icons (Gold Coast) – expensive, oversupply, tourism downturn</li>
<li>Sea change icons (Noosa) – underperforming, unaffordable, inferior capital growth</li>
<li>Urban renewal sites (Melbourne) – poor capital growth, oversupply, contamination</li>
</ul>
Ryder has been fairly consistent in his inclusions, as last year’s no-go list featured Byron Bay and Queensland's Sunshine Coast and Gold Coast. It also included prestige Melbourne suburbs, Mount Isa in Queensland, Kalgoorlie in Western Australia and the Roseberry/Zeehan area in Tasmania.
Ryder, a specialist property writer, is the author of four books about real estate and compiles the no-go zones list each year for his website.
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Mining towns not rivers of gold: Terry Ryder

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There can be little doubt that the latest turmoil in share markets will trigger a decision by many super fund members towards a greater property investment.
Some will choose to do so changing their exposure through their existing industry funds, while others will decide to do it through self-managed super funds.
Given the overly high allocation of shares in the typical balanced super portfolio, Australian super fund members are particularly vulnerable to every tumultuous swing in the world’s share markets.
The pro-property push will come not necessarily because Australian funds have underperformed the OECD average in the GFC aftermath. (And pity those whose assets have not recovered in the six OECD countries in local currency terms; Belgium, where assets are 10% lower than in 2007; Ireland, 13%; Japan, 8%; Portugal, 12%; and Spain and the US, which were both down by 3%.)
But the shift towards bricks and mortar will come rather from the desire to control one’s own destiny and forego the anxiety of waking up to find one’s fate after the overnight trading on Wall Street.
The Organisation for Economic Co-operation and Development report on pensions found Australian funds had the third-highest exposure to shares in the developed world.
About 46% of super money was invested in equity markets. The June 2010 report noted the best-performing funds were in New Zealand (10.3%), Chile (10%), Finland (8.9%), Canada (8.5%) and Poland (7.7%).
In most OECD countries bonds were by far the dominant investment class, accounting for at least half the funds' investments. Australian funds typically have 11 per cent in bonds, and about 15% in cash and deposits.
Countries including the United States, Finland and Chile were others that showed significant portfolio allocations to equities, in the range of 40% to 50%.
Of course the bias towards shares helped compulsory super funds produce strong returns when the stock market was rising.
But the latest unsettling share market turmoil comes at a time when SuperRatings managing director Jeff Bresnahan says many funds had yet to regain all the losses suffered during the GFC.
“To say 2012 is shaping up to be a challenging one is a mild understatement, with ongoing European debt crises, political jousting in the US, massive daily stock market swings and now the threat of recession,” Bresnahan notes.
No doubt many fund members will be switching to a more conservative investment option within their existing funds, and the super industry will be content to keep them in the tent.
But the latest episode in stock market turmoil will trigger an exodus towards self-managed super funds with property investment prospects at top of mind.
Jeremy Cooper, who chaired last year's review of the super industry, acknowledged this week that the industry funds had a “one-size-fits-all soup of assets.”
“And that may need to change, especially in retirement where people feel losses the most.''
''I get the sense people are saying not again, and are overwhelmed by the powerlessness of it all,'' Cooper, who is the head of Challenger retirement income division, told the SMH.
Cooper says the recent sell-off was irrational, and that small investors worried about their superannuation portfolios ought to have a cup of tea and leave it to the experts.
Since it was the share market and super industry experts at whom much of the blame rests, the property industry stands ready in anticipation of an investment fillip once the mums and dads have had that cuppa.
Let’s just hope the shift is orderly.
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Bricks and mortar will be more investors' cup of tea after turmoil

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The “time to buy a dwelling” sentiment dropped by 3.9% in the latest Westpac-Melbourne Institute Index of Consumer Sentiment.
But the level interest still sits as above the index lows of earlier this year. The index tracking views on whether it was time to buy a car fell by an even sharper 6.2% to register the lowest point since 2008.
The overall Westpac-Melbourne Institute Index of Consumer Sentiment fell by 3.5% in August from 92.8 in July to 89.6 in August.
“Coming after a fall of 8.3% in July, this latest fall is sending a significant message,” Westpac chief economist Bill Evans says.
The Index is now at its lowest level since May 2009 based on the survey conducted over the period August 1 to 6.
Some 76% of respondents had answered the survey before Friday, August 5, when confidence was jolted by turmoil in global financial markets with the reported 4.3% fall in the Dow Jones Index of US shares and the 4.2% fall in the Australian Index.
For the period before August 5 the Index was at 91.4 and for respondents in the period of August 5 to 6 the Index stood at 83.9.
“The index had fallen by 1.6% even before the financial turmoil,” Evans notes.
“As expected this financial turmoil has added another dimension of risk to consumers over and above those issues associated with interest rates, house prices, carbon tax, and potentially, jobs.”
The modest fall in sentiment is despite the Reserve Bank holding rates steady at its recent meeting and (until recently) a surging Australian dollar. It comes after an 8.3% fall from already low levels and clearly points to the consumer remaining cautious.
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Houses perhaps but certainly cars off the shopping list as consumer sentiment falls

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Westfield Group will spend $440 million to acquire a half-share of a Brazilian shopping mall owner, marking a long-awaited move into a new geographic retail market.
Westfield, which currently owns or has interests in 119 centres in the US, UK, Australia and New Zealand, will buy 50% of Almeida Junior Shopping Centers SA, giving it an interest in five malls in southern Brazil and two currently under development.
Almeida Junior is one of the eight largest Brazilian companies operating in the shopping centre sector.
"Today's announcement represents an exciting and significant strategic investment for the group, which expands our global franchise into this large and high-potential market,” Westfield chairman Frank Lowy said in a statement.
"This is our first new market entry since we entered the United Kingdom in 2000 and follows the restructure of the group in late 2010.
“Whilst the climate in the world financial markets is volatile at present, this transaction is in the group's long term investment and funding plan, and one we have been investigating for an extensive period of time."
The Brazilian company, led by its founder and CEO Jaimes Almeida Junior, has been operating shopping centres in Brazil since 1993.
Westfield Group co-CEO Steven Lowy says the underlying characteristics of the Brazilian market combined with a strong and diversified local retailer base and growing consumer spending make Brazil a strategic long-term growth opportunity for the group.
Brazil is the seventh-largest economy in the world, with a GDP of approximately US$2.1 trillion and a population of approximately 190 million people. Brazil’s economy has grown substantially over recent years, as has its middle-class population. More than 110 million people in Brazil are now considered to be middle class or above.
Retail sales have grown strongly since 2000, with shopping centres in Brazil representing only 18% of the country's total retail sales, compared with 52% in the United States and 41% in Australia. In addition, shopping centre space per capita of population is relatively low in Brazil, at 0.05 square metres per person, compared with 1.37 square metres  in the US, 0.54 square metres in Australia and 0.21 square metres in the United Kingdom. The ownership of shopping centres is also highly fragmented.
The underlying characteristics of the shopping centre industry in Brazil are similar to the other markets in which WDC operates. There is an established industry of anchor-based centres, with the majority of income sourced from a wide offer of local and international specialty stores on mainly five-year lease terms and rents, similar to Australia, indexed annually to inflation. The average size of a specialty store in the company's portfolio is smaller than in WDC's existing markets at approximately 70 square metres.
Under the terms of the transaction, Westfield will invest a total of R$740 million (A$440 million) in acquiring a 50% interest in the company, valuing the company at R$1,480 million (A$880 million). The valuation for the company represents an 11.2 times EBITDA multiple on first-year forecast earnings.
WDC's investment includes a direct capital injection into the company of R$400 million (A$240 million), which will give the company a net debt of zero and provide it with the capacity to grow over time.
The company owns and manages three existing shopping centres throughout the state of Santa Catarina, a high-income demographic region of Brazil with a population of 6 million people. It will also continue the development of two new shopping centres in Blumenau and Florianopolis (the capital of Santa Catarina), with completion expected by year end 2011 and 2012, respectively. The company will have a 55% market share of the shopping centre space in the state.
The total portfolio comprises approximately 157,000 square metres of retail space, with almost 900 stores. The sales productivity for the centres is high with occupancy cost ratios for the established centres at the lower end of the industry's peers.
The company is based in Sao Paulo and employs approximately 1,000 people.
WDC will be directly involved in the management and growth of the company.
As a result of the transaction, the group's assets under management will increase by almost A$1 billion. The group expects to achieve an unlevered internal rate of return in excess of 15% on its invested capital.
The transaction is expected to be earnings positive and is forecast to contribute 0.3¢ to Funds from Operations in 2012. The accretion is expected to increase further in future years as a result of both the income growth from Westfield Almeida Junior's existing portfolio as well as the anticipated growth in the overall size of the business.
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Westfield buys half-stake in Brazilian shopping centre owner for $440 million

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Entrepreneur Clair Jennifer, who sold her 54-store Wombat fashion retail chain business to the Packer family in 2004, has secured a bullish $8 million for her home on Sydney’s northern beaches.
It has been bought by a company whose shareholders are given as two Chinese-born directors in their early 20s. The property, named Heaven, was marketed as where East now meets West.
It took two years to secure the sale, but not much variance from Jennifer’s initial $8.5million asking price through LJ Hooker Mona Vale agent Josephine Cowling and Ray White Terrey Hills agent Shayne Hutton.
Located between Warriewood and Terrey Hills in the municipality of Pittwater, the 2.2-hectare resort-style property at Ingleside featured on Jamie Durie's series Australia's Best Backyards.
With seven bedrooms, six bathrooms and vast living areas, the residence and separate studio are surrounded by tropical gardens with rolling lawns.
There’s plenty of water features and an indoor-outdoor pool.
The existing 1998 house was renovated and extended along with the installation of its gardens after the block cost $2.7 million in 2003. Warm cedar timbers are influential throughout the architecture, combined with natural limestone, sandstone and contemporary textured walls. In one word the property is best described as breathtaking.
There are three stables, barn and workshop area.
It was marketed as having no neighbours within view, but in close proximity to exceptional educational facilities.
It is about 30 minutes from Sydney and about five minutes from the boating shores of Pittwater, surfing beaches, prestigious golf and country clubs plus the village atmosphere of Mona Vale.
The northern beaches’ last big sale was in December 2009 when Gail Kelly, the boss of Westpac, spent $8.95  million on a <a target="_blank" title="Terrey Hills" href="/news">Terrey Hills</a> acreage property.
It was a record price for a northern beaches equestrian property. The two-hectare resort-style property came with a five-bedroom, five-bathroom house. There is also a guesthouse on the bushland estate with views towards the city skyline.
It was sold by former Vivendi Water chairman Kevin Doyle, who bought it for $3.65 million in 2005.
The Kelly acquisition comes with heated indoor pool, spa, floodlit tennis court and equestrian facilities with Olympic arena.
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East meets West with sale of $8 million northern beaches heaven

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Chateau de Benelong, the distinctive Bellevue Hill residence, has been listed for upcoming auction with $7.5 million hopes. With its multiple arches, columns, balustrades and detailed decorative exterior adornments including cherubs, lions' heads and a central courtyard fountain, the nine-bedroom house has stood out from the crowd since the late 1970s when it was built by designer Lesley Santy.
Santy, who won a gold medal in the 1957 international furniture exhibition in Milan, designed the building for the Levy family. 
The Benelong Crescent property has been listed through Kim Jones at Di Jones Real Estate. It last traded for $3.67 million in 2009.
“With neo-classical architecture, this private palazzo commands sweeping northerly harbour views from its grand columned terraces,” listing agent Kim Jones says. She says there’s been a “no-expense spared approach” to renovating its luxury living spaces, which include a lavish poolside entertainer's pavilion, home theatre and gym. It comes with eight bedrooms, including a two-bedroom apartment.
Chateau de Benelong featured in a series of Telstra ads starring comedian Billy Connolly in the late 1990s. It comes with approval for roof terrace with bridge views.
The vendors are Elio and Makedonka Del Ben, who own a building company called Big Dig Pty Ltd.
They have completely renovated the home throughout, with renovations finishing this year.
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Columned chateau with 21st-century interiors at Bellevue Hill

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Buyers look set to be in the box seat as a fresh spring listings potentially overwhelm the already burdened patchy market.
The number of national residential property listings increased by 4% during July 2011 to 377,315, according to SQM Research.
Melbourne was the capital city to record the largest increase year-on-year, with stock rising 45% since July 2010.
The national stock level sits 21.9% higher year on year, increasing by 67,785 since July 2010.
“This latest rise in stock levels does not bode well for spring, when seasonally tens of thousands of new listings come on to the market,” SQM Research managing director Louis Christopher says.
“Unless there is a flash interest rate cut by October, house prices will almost certainly head south from here.
“It won’t be a collapse of the market as there are still few forced sellers; however it won’t exactly be pleasant for the sellers.
“Buyers are largely going to be in the commanding position when it comes to negotiations this spring.”
Christopher says the swell in July listings revealed potentially that sale stock had not yet peaked for the cycle and the May and June monthly declines occurred solely due to seasonality.
Darwin was the only capital city to record a monthly decrease in July in stock, falling by 1%.
Hobart experienced no change in stock, while the remainder of capital cities recorded monthly increases.
Both Brisbane and Darwin recorded the largest monthly increase in stock levels, both rising by 6% to 31,859 and 45,725 respectively.
?<img src="/images/stories/sqm_chart.gif">
“No capital cities have experienced a year-on-year decline in listings, with Brisbane recording the least yearly growth – increasing by 16% since July 2010,” Christopher says.
“Melbourne has consecutively experienced the highest level in stock for some time now, and this can be attributed to the large amounts of new residential developments currently being completed in this capital city.”
SQM's weekly list of the most discounted properties in Australia turns up no surprises this week, with no new entries since last week. These properties have been on the market a long time and have been deeply discounted, but even they cannot find buyers in this oversaturated market.
1
<a target="_blank" title="1 Flora Street" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008173508">1 Flora Street, Midland, WA, 6056</a>
On the market since: August 16, 2009
Initial asking price: $1.9 million
Current asking price: $850,000
Reduction: 55%
Days on market: 715
 
<h2 style="font-size: 18px; line-height: 21px;">2</h2>
<a target="_blank" title="588 white beach road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106479093">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: 434
 
<h2 style="font-size: 18px; line-height: 21px;">3</h2>
<a target="_blank" title="1350 Wynnym Road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106966579">1350 Wynnum Road, Tingalpa, Queensland, 4173</a>
On the market since: November 6, 2010
Initial asking price: $700,000
Current asking price: $380,000
Reduction: 46%
Days on market: 266
 
<h2 style="font-size: 18px; line-height: 21px;">4</h2>
<a target="_blank" title="3 Boolari Road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105832903">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: 752
 
<h2 style="font-size: 18px; line-height: 21px;">5</h2>
<a target="_blank" title="1/21 Ocean Drive" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106550670">1/21 Ocean Drive, Coogee, WA, 6166</a>
On the market since: May 23, 2010
Initial asking price: $2.7 million
Current asking price: $1.6 million
Reduction: 41%
Days on market: 433
 
<h2 style="font-size: 18px; line-height: 21px;">6</h2>
<a target="_blank" title="232 High Central Road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007562500">232-234 High Central Road, Macleay Island, Queensland, 4184</a>
On the market since: January 11, 2009
Initial asking price: $279,000
Current asking price: $175,000
Reduction: 37%
Days on market: 931
 
<h2 style="font-size: 18px; line-height: 21px;">7</h2>
<a target="_blank" title="25 Vicary Street" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008491614">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: 364
 
<h2 style="font-size: 18px; line-height: 21px;">8</h2>
<a target="_blank" title="290 Viveash Road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007193295">290 Viveash Road, Swan View, WA, 6056</a>
On the market since: June 5, 2008
Initial asking price: $2.29 million
Current asking price: $1.5 million
Reduction: 34%
Days on market: 1,152
 
<h2 style="font-size: 18px; line-height: 21px;">9</h2>
<a target="_blank" title="3 Zelma Court" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D105294317">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: 433
 
<h2 style="font-size: 18px; line-height: 21px;">10</h2>
<a target="_blank" title="46a Stock Road" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106404560">46a Stock Road, Attadale, WA, 6156</a>
On the market since: March 23, 2010
Initial asking price: $2.69 million
Current asking price: $1.79 million
Reduction: 33%
Days on market: 496
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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Buyers in the box seat if spring brings flood of new housing stock

Burgeoning South East Queensland developer <a href="https://www.apartments.com.au/developers/frank-developments">Frank Developments</a> is continuing to pad out its capital city development pipeline.

The developer, led by Frank Licastro, has its sights set on Kingsford Smith Drive in Hamilton, where it is planning <a href="https://www.apartments.com.au/new-apartments/avela-60-kingsford-smith-drive-albion-qld-4010">AVELA</a>, a 166-apartment development across three towers that tier down from 28 storeys to 19 and 17.

The towers will rise above the iconic Breakfast Creek Hotel.

Frank has brought on Melbourne architecture practice <a href="https://www.apartments.com.au/architects/rob-kennon-architects">Kennon</a> to design the building, conceived as a “defining architectural marker where the airport corridor meets the inner city.”

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="e787c64e-f0a4-4725-891e-e86b40ee5c5c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA.png?VersionId=1ulwuZ9w2vQ2td7v.J2zUI7Ih_DT4Kwz" />

Kennon describes the project as a once-in-a-generation opportunity.

"Positioned at the northern gateway of Brisbane's primary CBD corridor, this project represents a singular moment in the city's urban evolution, one that will not come again," the architecture practice said in the documents submitted to the Brisbane City Council.

"Where the airport and world beyond meets the city, the building will rise as a sculptural landmark, a defining piece of architecture that signals arrival into Brisbane and anchors the connection between the city and the communities to its north."

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="d572bf62-a98d-4847-95d0-889e3d3283e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium.png?VersionId=6.Ax4jBzTbY5ahm55iaMWNR03ODhDQSm" />

The development is centred around owner-occupier apartments, with a mix of two, three and four-bedroom residences designed to capitalise on city and river views.

Four basement levels accommodate resident parking, allowing the podium to prioritise pedestrian activity and public-facing uses like ground-floor retail, a cafe, a&nbsp;neighbourhood grocer, and a public accessible indoor pickleball court and event space.&nbsp;

There will be nearly 2,000 sqm of communal wellness and recreation facilities across three levels.

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="c5ac3cbf-3c11-4219-89f3-e12d9e0f9ffd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium%20A.png?VersionId=_.4zd1HLCKa1s6I_oxkY4NNqX6o3Yevn" />

&nbsp;

Frank Developments has increasingly focused on design-led residential projects across South East Queensland.

AVELA is Licastro's second on Kingsford Smith Drive following <a href="https://www.apartments.com.au/new-apartments/alba-92-kingsford-smith-drive-hamilton-qld-4007">Alba</a>, 85 apartments just down the road. The developer has <a href="https://www.apartments.com.au/new-apartments/mira-61-garfield-terrace-surfers-paradise-qld-4217">MIRA</a> and <a href="https://www.apartments.com.au/new-apartments/myst-burleigh-heads-270-the-esplanade-miami-qld-4220">MYST</a> on the Gold Coast, as well as <a href="https://www.apartments.com.au/new-apartments/murano-teneriffe-37-wyandra-street-new-farm-qld-4005">Murano</a> coming up in Teneriffe and <a href="https://www.apartments.com.au/new-apartments/bel-air-33-oxlade-drive-new-farm-qld-4005">Bel Air in New Farm</a>.

Joel Robinson

Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

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Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

[smartcode_project:default project_id=149637 project_image_fid=351027]

The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

[smartcode_project:default project_id=149637 project_image_fid=351031]

For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

Jonathan Chancellor

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