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Melbourne businessman Sir Donald Trescowthick and his wife Norma have sold Cornwall Park in Toolern Vale, north-west of Melbourne, to a local landbanking investor.
The 279-hectare land holding, located on <a href="https://www.realcommercial.com.au/property-commercial+farming-vic-toolern+vale-502164886" target="_blank">Diggers Rest-Coimadai Road</a>, is tipped to have sold for shy of $4 million with Duncan McIntyre, a Melbourne real estate agent, fronting the purchasing paperwork.
Sir Donald Trescowthick is best remembered for making Harris Scarfe into one of the country's biggest department store groups when he assumed control in the 1970s.
Cornwall Park, which was marketed by CBRE's Tim Bennetts and James Beer, includes a large homestead built in 1897 for grazier J. Black before its late 20th century conversion into a horse stud.
It sold with significant original stud infrastructure including five residences, an office building and 90 horse boxes,
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jchancellor-FAypfDUnLy

Trescowthick family sell Cornwall Park, Toolern Vale stud to landbanker

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Bidding only got to $150,000 when Ross and Jan Machar offered their rare double-storey boat shed on Mornington’s Shire Hall Beach under the hammer on Saturday.
There were hints it had the potential for double that.
A big crowd turned up - and estate agents in suits too.
It’s bigger and brighter than most of the others along Melbourne’s other beach boxes.
The couple will even be throwing in the <a href="https://www.realestate.com.au/property-unit-vic-mornington-124350086" target="_blank">shed’s contents</a> with the sale, including a rowboat, paddle board and windsurfer which are stored in the property’s lowest level, plus wetsuits, life jackets, beach toys, deck chairs and the artworks that adorn the walls.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/30/DSCN9026.jpg" alt="">
The Machars purchased the 25sq m shed 15 years ago for about $50,000.
Painted it in a vivid colour scheme that reflects a coral reef, the bathing box has been enjoyed by their four children and eight grandkids.
It has views of the Mornington Pier marina, Port Phillip Bay and the city skyline.
LJ Hooker Frankston listing agent George Konstandakos said the shed, No. 37, was difficult to price.
“The council valuation says it’s worth more than $160,000, but anything can happen on auction day.
“It could go well over $300,000,” he told the Herald Sun pre-auction.
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Mornington bathing box listed for sale after $150,000 top weekend bid

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Pittwater MP Rob Stokes's planning portfolio will be taken over by Lane Cove MP and former energy minister Anthony Roberts (above) in the new NSW State Government cabinet.
Stokes takes on education in the ministry reshuffle announced by Premier Gladys Berejiklian.
Her Deputy Liberal leader Dominic Perrottet will move from finance to become treasurer, as was his entitlement.
There will be a minister for the $16.8 billion WestConnex motorway, the Penrith MP Stuart Ayres.
Cronulla MP Mark Speakman moves from environment to attorney-general, replacing Vaucluse MP Gabrielle Upton who takes on environment and the challenging local government portfolio.
Ryde MP Victor Dominello moves from innovation and better regulation to finance.
Andrew Constance remains Transport and Infrastructure Minister.
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Rob Stokes hands planning ministry in NSW Cabinet to Anthony Roberts

<html><body><div id="story-description">
Commenator Alan Kohler has written that the demand for Sydney and Melbourne property is real, not speculative.
He says it was prompted by super-low interest rates, the global trend to urbanisation, the well-heeled baby-boomers downsizing to make up for inadequate superannuation and China’s capital outflow.
<div id="story-description">
The Australian columnist noted high prices in the east coast mainland cities "remain a problem because the boom turns out not to have been a bubble."
"Prices have inconveniently not fallen 30-40 per cent as predicted by the bubbleists.
</div>
"If it were a bubble there wouldn’t be a problem because ­prices would collapse, and policymakers would be dealing with the economic fallout of that event — recession and unemployment — rather than unaffordable housing.
"But regrettably it seems that the demand for Sydney and Melbourne property is real, not speculative, prompted by super-low interest rates, the global trend to urbanisation, well-heeled baby-boomers downsizing to make up for inadequate superannuation and China’s capital outflow."
He noted in the absence of a curative crash, there has been a series of well-meaning attempts to propose a solution:
1. The Labor Party’s election plan last year was to stop negative gearing for established houses and only allow deductions for new ones, but the Coalition naturally said that was the worst idea ever conceived throughout all of history. Labor lost, the Coalition won, so that’s out.
2. The Weekend Australian’s Bernard Salt suggested that millennials stop eating smashed avocado for breakfast and save more, which didn’t go down well, the counterargument being that you’d have to eat cornflakes for breakfast, lunch and dinner for 1000 years to save a deposit for a place in Sydney.
3. Barnaby Joyce has now proposed moving to Tamworth, where he lives, or even Charleville (population 3728, about 800km west of Brisbane) which also didn’t go down well.
4. This week, Scott Morrison reported back from an all-expenses-paid fact-finding mission to London that the solution is, as the Treasurer’s always suspected, more supply.
"As someone tweeted — that was money well spent, wasn’t it?"
Looking at Australian housing approvals, he noted house starts have not changed for 35 years - and the rate of apartment approvals has quadrupled.
"Last year more than 200,000 dwellings were started.
"The idea that the problem is a shortage of supply is, as Trump would say, fake news."
Kohler did warn there seems to be a glut looming, not a shortage, and bankers are getting worried about settlement risk.
He concluded the real solution was already being implemented by families, especially in Sydney and Melbourne, helping the kids buy a house. 
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Alan Kohler says there is no property bubble, just real demand

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The Treasurer, Scott Morrison, has made changes under the foreign investment framework to allow foreign buyers to purchase an off-the-plan dwelling when another foreign buyer has failed to reach settlement.
The Turnbull Government advised last November it was set to implement changes under the foreign investment framework to allow foreign buyers to purchase an off-the-plan dwelling when another foreign buyer has failed to reach settlement.
"This change addresses industry concerns, and means property developers won’t be left in the lurch when a foreign buyer pulls out on an off-the-plan purchase," the Federal Treasurer Scott Morrison advised.
"This action will ensure that markets will not be impacted negatively by an increased amount of off-the-plan sales, particularly from foreign purchasers, not being completed."
He said it was common sense that an apartment or house that has just been built, or is still under construction and for which the title has never changed hands, is not considered an established dwelling.
In the event of a failure to complete settlement, the dwelling should revert to its previous status – that is, a new dwelling.
For individual applications made by potential purchasers this policy change will be implemented immediately.
Foreign persons who apply to purchase a dwelling that is considered established, only due to a failed settlement, will be assessed as if it was a new dwelling.
These issues also affect the current New Dwelling Exemption Certificates, which act as a pre-approval mechanism for foreign persons purchasing new apartments in a specific development.
A regulation change will be made at the next opportunity to enable developers to acquire a certificate that covers foreign persons purchasing a dwelling that is considered established only due to a failed settlement.
The Commissioner of Taxation has advised no compliance action will be pursued against persons who, if not for a failed settlement preceding their purchase, would otherwise have been covered by an existing New Dwelling Exemption Certificate until the regulations are changed.
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Off the plan FIRB rule change by Scott Morrison

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Chatswood in Sydney tops the list of suburbs popular with Chinese buyers, followed by Point Cook in outer Melbourne after a survey of searches on the realesate.com.au website.
Rowville on Melbourne's outskirts cames in third place with the recent favourite Glen Waverley coming in sixth place.
The realestate.com.au website calculated the number of searches to each suburb on realestate.com.au/buy and their Chinese-language site myfun.com from outside Australia from 1 July 2016 – 31 December 2016, based on a user’s IP address.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="23">
 
</td>
<td valign="top" width="126">
Suburb
</td>
<td valign="top" width="113">
Number of searches
</td>
<td valign="top" width="78">
Median Price
</td>
</tr>
<tr>
<td valign="top" width="23">
1
</td>
<td valign="top" width="126">
Chatswood (NSW)
</td>
<td valign="top" width="113">
More than 1880
</td>
<td valign="top" width="78">
$2,300,000
</td>
</tr>
<tr>
<td valign="top" width="23">
2
</td>
<td valign="top" width="126">
Point Cook (VIC)
</td>
<td valign="top" width="113">
More than 1790
</td>
<td valign="top" width="78">
$538,000
</td>
</tr>
<tr>
<td valign="top" width="23">
3
</td>
<td valign="top" width="126">
Rowville (VIC)
</td>
<td valign="top" width="113">
More than 1670
</td>
<td valign="top" width="78">
$760,000
</td>
</tr>
<tr>
<td valign="top" width="23">
4
</td>
<td valign="top" width="126">
Epping (NSW)
</td>
<td valign="top" width="113">
More than 1410
</td>
<td valign="top" width="78">
$1,724,000
</td>
</tr>
<tr>
<td valign="top" width="23">
5
</td>
<td valign="top" width="126">
Carlingford (NSW)
</td>
<td valign="top" width="113">
More than 1400
</td>
<td valign="top" width="78">
$1,332,500
</td>
</tr>
<tr>
<td valign="top" width="23">
6
</td>
<td valign="top" width="126">
Glen Waverley (VIC)
</td>
<td valign="top" width="113">
More than 1400
</td>
<td valign="top" width="78">
$1,202,000
</td>
</tr>
<tr>
<td valign="top" width="23">
7
</td>
<td valign="top" width="126">
Doncaster (VIC)
</td>
<td valign="top" width="113">
More than 1250
</td>
<td valign="top" width="78">
$1,202,500
</td>
</tr>
<tr>
<td valign="top" width="23">
8
</td>
<td valign="top" width="126">
Mount Waverley (VIC)
</td>
<td valign="top" width="113">
More than 1040
</td>
<td valign="top" width="78">
$1,240,000
</td>
</tr>
<tr>
<td valign="top" width="23">
9
</td>
<td valign="top" width="126">
Balwyn (VIC)
</td>
<td valign="top" width="113">
More than 970
</td>
<td valign="top" width="78">
$2,065,000
</td>
</tr>
<tr>
<td valign="top" width="23">
10
</td>
<td valign="top" width="126">
Ringwood (VIC)
</td>
<td valign="top" width="113">
More than 960
</td>
<td valign="top" width="78">
$807,500
</td>
</tr>
</tbody></table>
The data shows that Chinese buyers are interested in suburbs in Sydney and Melbourne that range in price from $538,000 to $2.3 million.
The REA Group chief economist Nerida Conisbee noted Point Cook, an outer western suburb of Melbourne, was the most affordable on the list.
"This reflects the growing diversity in housing stock being demanded by Chinese buyers. 
“Whereas previously the apartment market in Melbourne and Sydney was most preferred, they are now branching into more affordable locations and into house and land,” she noted.
Chatswood has knocked historical favourite Glen Waverley off the top of the popularity list for Chinese property seekers. 
In 2015, suburbs like Rose Bay and Darlinghurst topped the list of sought-after areas for Chinese buyers, followed by Merrylands and West Ryde.
Rowville was number five in 2015 is now at number three and Ringwood makes its debut this year at number 10.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-chatswood-124589134" target="_blank">9 Baldry Street, </a>Chatswood (above) has been listed for sale.
Similarly a four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-chatswood-124495754" target="_blank">34 Dalrympie Avenue</a>, Chatswood (below) has been listed for sale for $1,850,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/29/34%20Dalrymple%20Avenue.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-chatswood-124103070" target="_blank">10 Bertram Street</a>, Chatswood (below) was sold for $2,720,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/29/10%20Bertram%20Street.jpg" alt="">
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-chatswood-124132842" target="_blank">7 Spencer Place</a>, Chatswood (below) was sold for $2,450,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/29/7%20Spencer%20Place.jpg" alt="">
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Chatswood knocks Glen Waverley off top spot in popularity with Chinese property buyers

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Melbourne’s median house price has surged over $750,000 for the first time, new data from the REIV shows.
Ringwood - East and North - along with Caulfield South - and prestigious Toorak - led Melbourne's median house to $750,000 plus. 
In the three months to December 31, Melbourne’s median house price increased 5.0 per cent to a record high $770,000.
Growth was widespread across Melbourne and the market – from Toorak and Brighton to Moonee Ponds and Macleod. Double-digit growth was experienced in 43 of suburbs with more than 30 sales. 
Growth was also recorded in the outer, more affordable suburbs, including Cranbourne in the south-east, and Hoppers Crossing and Wyndham Vale in the west.
The median house price in all three suburbs remains below $450,000.
Units and apartments also increased in price over the December quarter in Melbourne, rising 3.0 per cent to $563,500. 
In regional Victoria, house prices experienced growth of 2.0 per cent to $358,000, while the unit and apartment median was slightly lower than the September quarter at $269,000.
The REIV President, Joseph Walton, said the latest quarterly figures indicate strength in the Victorian market.
“Transaction numbers in the inner and middle suburbs of Melbourne were up more than 20 per cent from the September quarter,” he said. 
“The ongoing interest from investors and homebuyers in the Victorian market looks likely to continue well into this year,” he said.
He said buyer demand continues to drive price growth and high clearance rates.
TOP 20 SUBURBS - DECEMBER 2016 QUARTER
 
<table cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="middle">
 
</td>
<td valign="middle">
Top Growth Suburbs
</td>
<td valign="middle">
Dec-16 Median
</td>
<td valign="middle">
Sep-16 Median
</td>
<td valign="middle">
Quarterly Change
</td>
</tr>
<tr>
<td valign="middle">
1
</td>
<td valign="middle">
RINGWOOD EAST
</td>
<td valign="middle">
$900,000
</td>
<td valign="middle">
$717,000
</td>
<td valign="middle">
25.5%
</td>
</tr>
<tr>
<td valign="middle">
2
</td>
<td valign="middle">
CAULFIELD SOUTH
</td>
<td valign="middle">
$1,807,500
</td>
<td valign="middle">
$1,450,000
</td>
<td valign="middle">
24.7%
</td>
</tr>
<tr>
<td valign="middle">
3
</td>
<td valign="middle">
TOORAK
</td>
<td valign="middle">
$4,762,500
</td>
<td valign="middle">
$3,900,000
</td>
<td valign="middle">
22.1%
</td>
</tr>
<tr>
<td valign="middle">
4
</td>
<td valign="middle">
BRIGHTON
</td>
<td valign="middle">
$2,740,000
</td>
<td valign="middle">
$2,245,000
</td>
<td valign="middle">
22.0%
</td>
</tr>
<tr>
<td valign="middle">
5
</td>
<td valign="middle">
ARMADALE
</td>
<td valign="middle">
$2,460,000
</td>
<td valign="middle">
$2,020,000
</td>
<td valign="middle">
21.8%
</td>
</tr>
<tr>
<td valign="middle">
6
</td>
<td valign="middle">
BROADMEADOWS
</td>
<td valign="middle">
$481,000
</td>
<td valign="middle">
$397,000
</td>
<td valign="middle">
21.2%
</td>
</tr>
<tr>
<td valign="middle">
7
</td>
<td valign="middle">
PRAHRAN
</td>
<td valign="middle">
$1,685,000
</td>
<td valign="middle">
$1,394,000
</td>
<td valign="middle">
20.9%
</td>
</tr>
<tr>
<td valign="middle">
8
</td>
<td valign="middle">
MOONEE PONDS
</td>
<td valign="middle">
$1,235,000
</td>
<td valign="middle">
$1,030,000
</td>
<td valign="middle">
19.9%
</td>
</tr>
<tr>
<td valign="middle">
9
</td>
<td valign="middle">
BOX HILL SOUTH
</td>
<td valign="middle">
$1,316,000
</td>
<td valign="middle">
$1,101,000
</td>
<td valign="middle">
19.5%
</td>
</tr>
<tr>
<td valign="middle">
10
</td>
<td valign="middle">
MACLEOD
</td>
<td valign="middle">
$925,000
</td>
<td valign="middle">
$775,000
</td>
<td valign="middle">
19.4%
</td>
</tr>
<tr>
<td valign="middle">
11
</td>
<td valign="middle">
HAWTHORN
</td>
<td valign="middle">
$2,470,000
</td>
<td valign="middle">
$2,080,000
</td>
<td valign="middle">
18.8%
</td>
</tr>
<tr>
<td valign="middle">
12
</td>
<td valign="middle">
THOMASTOWN
</td>
<td valign="middle">
$567,000
</td>
<td valign="middle">
$477,500
</td>
<td valign="middle">
18.7%
</td>
</tr>
<tr>
<td valign="middle">
13
</td>
<td valign="middle">
RINGWOOD NORTH
</td>
<td valign="middle">
$950,500
</td>
<td valign="middle">
$815,000
</td>
<td valign="middle">
16.6%
</td>
</tr>
<tr>
<td valign="middle">
14
</td>
<td valign="middle">
DONCASTER
</td>
<td valign="middle">
$1,398,000
</td>
<td valign="middle">
$1,202,500
</td>
<td valign="middle">
16.3%
</td>
</tr>
<tr>
<td valign="middle">
15
</td>
<td valign="middle">
DROMANA
</td>
<td valign="middle">
$659,000
</td>
<td valign="middle">
$566,750
</td>
<td valign="middle">
16.3%
</td>
</tr>
<tr>
<td valign="middle">
16
</td>
<td valign="middle">
UPWEY
</td>
<td valign="middle">
$645,000
</td>
<td valign="middle">
$555,000
</td>
<td valign="middle">
16.2%
</td>
</tr>
<tr>
<td valign="middle">
17
</td>
<td valign="middle">
NARRE WARREN SOUTH
</td>
<td valign="middle">
$577,500
</td>
<td valign="middle">
$500,000
</td>
<td valign="middle">
15.5%
</td>
</tr>
<tr>
<td valign="middle">
18
</td>
<td valign="middle">
LALOR
</td>
<td valign="middle">
$560,000
</td>
<td valign="middle">
$487,000
</td>
<td valign="middle">
15.0%
</td>
</tr>
<tr>
<td valign="middle">
19
</td>
<td valign="middle">
SPRINGVALE
</td>
<td valign="middle">
$727,500
</td>
<td valign="middle">
$635,000
</td>
<td valign="middle">
14.6%
</td>
</tr>
<tr>
<td valign="middle">
20
</td>
<td valign="middle">
MOUNT MARTHA
</td>
<td valign="middle">
$945,000
</td>
<td valign="middle">
$825,000
</td>
<td valign="middle">
14.5%
</td>
</tr>
</tbody></table>
Source REIV
This time last year Melbourne’s median price had moderated following four successive quarters of growth, with the median price down marginally in the 2015 December quarter – down 0.1 per cent to a median house price of $718,000.
At Ringwood East a three bedroom house at <a href="https://www.realestateview.com.au/real-estate/38a-holland-road-ringwood-east-vic/property-details-buy-residential-10589674/" target="_blank">38a Holland Road</a>, Ringwood East (above) has been listed for sale.
Similarly an eight bedroom house at <a href="https://www.realestateview.com.au/real-estate/19-fernwood-avenue-ringwood-east-vic/property-details-buy-residential-10603034/" target="_blank">19 Fernwood Avenue</a>, Ringwood East (below) has been listed for sale.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/27/19-fernwood-avenue-ringwood-east-vic-3135-real-estate-photo-1-large-10603034.jpg" alt="">
A four bedroom home at <a href="https://www.realestateview.com.au/real-estate/3-debbie-place-ringwood-north-vic/property-details-buy-residential-10797060/" target="_blank">3 Debbie Place, </a>Ringwood North (below) has been listed for sale for between $750,000 to $850,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/27/3%20Debbie%20Place.jpg" alt="">
A four bedroom home at <a href="https://www.realestateview.com.au/real-estate/54-evelyn-road-ringwood-north-vic/property-details-buy-residential-10799125/" target="_blank">54 Evelyn Road,</a> Ringwood North (below) has been listed for sale.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/27/54%20Evelyn%20Road.jpg" alt="">
At Ringwood East a two bedroom home at <a href="https://www.realestateview.com.au/real-estate/12a-wenwood-street-ringwood-east-vic/property-details-sold-residential-10667314/" target="_blank">12A Wenwood Street</a>, Ringwood East (below) was sold for $730,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/27/12a-wenwood-street-ringwood-east-vic-3135-real-estate-photo-1-large-10667314.jpg" alt="">
Similarly a three bedroom home at <a href="https://www.realestateview.com.au/real-estate/13-isabel-avenue-ringwood-east-vic/property-details-sold-residential-10663319/" target="_blank">13 Isabel Avenue</a>, Ringwood East (below) was sold.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/27/13-isabel-avenue-ringwood-east-vic-3135-real-estate-photo-1-large-10663319.jpg" alt="">
A four bedroom home at <a href="https://www.realestateview.com.au/real-estate/6-unsworth-road-ringwood-north-vic/property-details-sold-residential-10634164/" target="_blank">6 Unsworth Road,</a> Ringwood North (below) was recently sold for $1,310,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/27/6%20Unsworth%20Road.jpg" alt="">
A five bedroom home at <a href="https://www.realestateview.com.au/real-estate/625-627-ringwood-warrandyte-road-ringwood-north-vic/property-details-sold-residential-10681851/" target="_blank">625-627 Ringwood-Warrandyte Road,</a> Ringwood North (below) was sold for $1,600,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/27/625-627%20Ringwood-Warrandyte%20Road.jpg" alt="">
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Ringwood, Caulfield and Toorak price growth lead Melbourne's median house to $750,000 plus: REIV

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GUEST OBSERVER
The appointment of Gladys Berejiklian as NSW Premier and her suggestion to review all options to address housing affordability should provide some optimism for a generation of young Australians who have a very real fear that owning their own home is fast (if not already) slipping beyond their reach.
As it stands, in Sydney the average home costs 12 times the average household income (20 years ago this was only four times), stamp duty tax has increased by a jaw-dropping 750 per cent over that same period in NSW and while building approvals in metropolitan areas is on the rise, lower interest and strong population growth have combined to increase demand for property faster than we can supply them. Throw this all into a melting pot and what we are left with is; a housing affordability crisis.
So in search of answers, LJ Hooker conducted a survey of more than 2,600 property owners which found that stamp duty was a major factor in the decision making process for those looking to sell and buy property.
The survey found that 51 percent of home owners that received an appraisal by a real estate agent but did not subsequently list their property for sale, would, in fact, do so if stamp duty was lower. This figure rose to 61 per cent if stamp duty was abolished altogether.
These numbers highlight the chokehold the current stamp duty tax has on the secondary market; Australians families would like to sell, move and relocate but cannot afford the cost of transacting. According to our data the reduction or removal of stamp duty will see more properties come onto the market, which in turn will help balance the current supply and demand issue.
But solving housing affordability is not a one-step process, nor is there one bandaid answer. Instead, state and federal governments should work together to look at a number of solutions which could elevate housing stress, so our children’s children will be able to afford property in all the major cities across Australia.
Here at LJ Hooker, we think these changes to the below three policy areas will help the likes of Premier Berejiklian, and her kin across Australia solve housing affordability issues:
1. Affordable housing
Recent strong price growth across our capital cities has seen low-income and essential service workers such as teachers, nurses and emergency service workers priced out of most inner city markets. However, these areas still require the services that these workers provide.
The provision of affordable housing for these low and middle-income families is required to ensure a diverse range of households have access to housing across all areas of our capital cities. 
However, at present, it has not been feasible for developers to provide affordable solutions. The government, therefore, needs to step in with incentives to ensure the delivery of affordable housing can occur. After all having nurses live near hospitals, and teachers live near schools just makes sense.
2. Removal of stamp duty
The high cost of selling, buying and moving home has reached a point where people are reconsidering and/or delaying their next property move. Recent strong price growth, and the fact that stamp duty is calculated on the value of the property, means that it has reached a point where it is having a big impact on the budgets of property buyers.
The scrapping of stamp duty would directly assist housing affordability by helping increase the mobility of the population and encourage owner-occupiers to upsize and downgrade into a property that suits their changing needs without being slogged with an exorbitant tax. This will insure more properties become available for sale, helping balance supply with demand and insuring more families get to grow up in their home of choice.
3. Regionalisation and decentralisation of government services and businesses
The growing population across all capital cities and the increasing cost of providing infrastructure to the masses mean that decentralisation of businesses, households and government departments is becoming essential.
With more than 90 per cent of the Australian population living in capital cities, there is a need to incentivise businesses to relocate, or start-up, some or all, of their business in our major and minor regional centres.
This regionalisation will boost the economies of these smaller regions and provide employees access to more affordable housing in these areas. It will also elevate some stress and demand on infrastructure, services and housing in capital cities.
We look to our politicians and decision makers to take these policies under consideration. Inaction will only perpetuate the issues faced by Australian families. Their needs to be decisive structural change to make the long-held Australian dream of home ownership a reality for all Australian families and individuals. 
Grant Harrod is chief executive officer of JL Hooker and can be contacted <a href="https://about.ljhooker.com.au/leadership-team" target="_blank">here</a>.
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Three solutions to the housing affordability crisis: LJ Hooker's Grant Harrod

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The RBA typically seeks 2 percent to 3 percent as its ideal range, but the latest inflation figures sit well outside.
Headline inflation was up 0.5 percent in the December quarter and 1.5 percent over the year. 
Core CPI up 0.4 percent in the quarter and 1.6 percent over the year.
Blogger Pete Wargent noted Perth rents had plummeted in the rental housing component (lead image).
He noted Hobart had a strong rental market.
Commentator Callum Pickering, managing director &amp; chief economist at CP Economics also noted "that is some rental bust we are seeing in Perth and Darwin."
<a href="https://www.propertyobserver.com.au/images/2017/01/25/Screen%20Shot%202017-01-25%20at%2011.58.27%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/25/Screen%20Shot%202017-01-25%20at%2011.58.27%20AM.png" alt="">
 
Pickering suggested rents constrained by wage growth across the nation. 
Commbank's Craig James noted inflation has bottomed, "but it certainly doesn’t seem on a sharp acceleration path."
Annual inflation has lifted from 1.0 percent to 1.5 percent over the past six months, but it remains well below the Reserve Bank’s 2-3 percent target band, he advised. 
"But while inflation is not yet a concern for the Reserve Bank, interestingly consumers have other ideas.
"The latest weekly consumer sentiment survey by Roy Morgan and ANZ put inflationary expectations (out two years) at the highest level in 4½ years.
 "No doubt the lift in petrol prices has spooked consumers and caused them to take their eyes off other prices which are either falling or becalmed. 
"It is clear that interest rates will stay low for an extended period.
"The Reserve Bank doesn’t need to cut rates again with inflation trending higher, rather than lower.
"And there are doubts that rate cuts would actually do much in terms of driving the economy higher and lifting inflation," James said. 
He noted the main changes were tobacco prices rose by 7.4 percent, with petrol up 6.7 percent, domestic travel and accommodation up 5.5 percent and home purchase up 0.5 percent.
"The CPI was dragged lower by a 2.6 pe cent fall in international holiday travel and accommodation, 5.1 percent fall in clothing “accessories” and 3.2 percent fall in waters, soft drink and juices." 
 
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Inflation remains subdued as housing rental markets go bust in Perth and Darwin

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The stockbroker Bell Potter has dropped its buy recommendation for shares in the McGrath Estate Agent group.
Bell Potter, along with investment bank JP Morgan underwrote the sharemarket listing of property agent McGrath in December 2015 at $2.10 a share.
Bell Potter told its clients that McGrath shares are a "hold" with an 86 cent a share 12 month price target.
Until this week's trading update by McGrath, Bell Potter had the shares as a buy worth $1.20 potentially.
The update advised agent departures and the low listing landscape meant McGrath revenue would be lower than expected.
Bell Potter noted the key window for recruiting agents had also just passed "so we do not anticipate much increase in agent numbers before financial year end."
Property Observer gathers McGrath's agent retention packages to reduce further departures includes previously unseen generous commission share, which would potentially add to the agency costs. 
Bell Potter analyst Chris Savage did note his key driver of the downgrade was "large agent churn which is company rather than industry specific.
"We are more concerned about the large agent churn rather than the low listing volumes as it implies an internal issue that puts at risk the leverage we perceived the company to have to a recovery in listing volumes."
"We were forecasting 1HFY17 EBITDA of $9.7m and, following the update, there is no change to this forecast. 
"We were forecasting 2HFY17 of $11.2m, however, and we now reduce this forecast to $7.2m which is 25 percent below our 1HFY17 EBITDA forecast. 
"The net result on our full year FY17 EPS forecast (calculated on NPATA) is a 21 percent downgrade and we have also downgraded our FY18 and FY19 EPS forecasts by 28 percent and 25 percent respectively.
"The key driver of the downgrades in each period has been lower agent numbers than we previously forecast.
"The net result is a 32 percent decrease in our PT from $1.25 to $0.85 which is a modest premium to the share price and we downgrade from BUY to HOLD." 
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McGrath now a hold rather than a buy: Bell Potter

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

Joel Robinson

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

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

[smartcode_project:default project_id=139552 project_image_fid=371017]

Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

[smartcode_project_cta:default project_id=139552]

Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

[smartcode_project:default project_id=149594 project_image_fid=362634]

While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

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

South East Queensland’s apartment market is entering a new phase defined by rising prices, constrained affordability, and mounting pressure on the construction pipeline, according to RPM Group’s latest SEQ Apartments &amp; Townhomes Market Report.

The May 2026 report highlights a widening divide between what buyers can afford and what developers can viably deliver, with detached house prices continuing to push more buyers toward apartments across Brisbane, the Gold Coast, and the Sunshine Coast.

RPM says Brisbane’s median house price has reached around $1.5 million, accelerating the shift toward higher-density housing as buyers are increasingly priced out of the detached market.

[smartcode_project:default project_id=135094 project_image_fid=356540]

Median unit prices rose across all three major SEQ markets in the March quarter. Brisbane City recorded the strongest annual growth, with median unit prices climbing 21 per cent to $862,000, while the Gold Coast reached the highest overall median at $950,000, up 17 per cent year-on-year. The Sunshine Coast followed at $870,000, representing annual growth of nine per cent.

RPM noted the affordability gap between houses and units remains significant, with detached homes commanding premiums of 67 per cent in Brisbane and 68 per cent on the Gold Coast relative to apartments.

The report suggests this price disparity is increasingly consolidating buyer demand within the apartment market, particularly among downsizers and owner-occupiers.

“Demand is real. Supply is moving. But they’re operating on different timelines and the gap between what’s being built and what buyers can afford is the defining tension in this market right now,” RPM Queensland and NSW Managing Directors Peter Neale and Clinton Trezise said in the report.

[smartcode_project:default project_id=150787 project_image_fid=366230]

While approvals and commencements are strengthening, RPM argues the delivery pipeline remains constrained by construction costs, labour shortages, and extended build timelines.

Apartment approvals across Queensland increased 86 per cent over the year to February 2026, reaching 12,682 approvals, the highest level recorded since 2016. Brisbane overtook the Gold Coast as the state’s most active apartment approval market, with nearly 5,000 apartments approved over the past 12 months.

Unit commencements also strengthened considerably, rising 48 per cent year-on-year to 5,453 commencements in the December 2025 quarter, the highest level since 2018.

However, RPM’s research found apartment delivery timeframes have expanded sharply compared to the previous cycle. Projects are now averaging around 30 months from approval to completion, compared to roughly 20 months a decade ago.

[smartcode_project:default project_id=143932 project_image_fid=367515]

The number of units under construction has climbed to approximately 31,530 dwellings, nearing the previous 2016 peak, though projects are remaining in the pipeline for considerably longer.

Construction costs continue to weigh heavily on feasibility. RPM found the average apartment construction cost in Greater Brisbane reached $630,000 per dwelling in 2025, exceeding both Sydney and Melbourne. Coastal Queensland markets, including the Gold Coast and Sunshine Coast, were even higher at an average of $817,418 per apartment due to the prevalence of larger premium product.

The report also points to increasing pressure from Olympic-related infrastructure spending ahead of Brisbane 2032, with labour competition expected to intensify over the next several years.

[smartcode_project:default project_id=150017 project_image_fid=370960]

ANZ Associate Director of Property Daniel Gradwell said the underlying demand drivers across South East Queensland remain strong, supported by interstate migration, downsizers, and population growth.

“The challenge is bringing enough supply to market to meet that demand, and nothing on the horizon makes that straightforward,” Gradwell said.

RPM’s analysis found the affordability challenge is becoming more pronounced in the new apartment market itself, with only three per cent of surveyed new apartments priced below $1 million.

Instead, the market is increasingly concentrated in higher price brackets, with the most common new apartment price band across SEQ sitting between $1.5 million and $1.75 million. Around half of all new apartment stock surveyed is priced below $2 million.

The report suggests developers are not necessarily avoiding lower price points by choice, but because current construction economics make delivering affordable apartments increasingly difficult at scale.

Rental conditions also remain tight across the region. Median rents for one-bedroom apartments rose 12 per cent in Brisbane over the past year to $580 per week, while Gold Coast one-bedroom rents increased nine per cent to $630.

Despite rising rents, RPM noted bond lodgements have generally trended downward over the past five years, indicating more apartments are being absorbed by owner-occupiers rather than retained as investor-held rental stock.

Looking ahead, RPM expects projects targeting the mid-market owner-occupier segment between $1.25 million and $2 million to remain the most viable part of the market, while premium projects in highly constrained coastal or riverfront locations continue to attract demand.

“Construction costs are rewriting the feasibility rulebook across Greater Brisbane, and with little relief in sight, only projects in the right price band, right location, and with presales secured early will make it through,” the report concludes.

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

Camberwell Junction has long been the epicentre of amenity in Melbourne’s Boroondara region.

For nearly a century, it has drawn both locals and visitors, anchored by the Camberwell Sunday Market, which first operated in 1929 and quickly became a fixture of the suburb’s identity. Over time, the Junction evolved into one of Melbourne’s most established retail and lifestyle precincts, now comprising more than 400 stores and over 300 commercial businesses.

Despite that depth of amenity, one thing has remained notably limited: the supply of new apartments.

In a suburb defined by its heritage streetscapes and tightly held residential stock, new development opportunities have been scarce, particularly within the core of the Junction itself. That lack of supply has left a gap in the market for larger, design-led apartments suited to downsizers and owner-occupiers wanting to remain in the area.

Boutique developer Above Zero identified that gap when it secured a prime site on Burke Road, in the heart of Camberwell Junction.

[smartcode_project:default project_id=4896 project_image_fid=368543]

The site has a long planning history. Various proposals have been put forward over more than a decade, many of which were knocked back by the City of Boroondara, with initial applications dating back to 2015. Above Zero acquired the site in 2022 and returned with a revised scheme, refining both the building’s height and its ground-level interface to better align with Council expectations.

That process has culminated in approval for Camberwell House.

The Cera Stribley-designed development will deliver 57 residences on a 1,950 sqm site within the Camberwell Activity Centre, placing it directly within one of Melbourne’s most established retail and transport hubs.

It is expected to be one of the only new apartment developments to launch in the Junction in recent years, reinforcing the rarity of new supply in the precinct. Currently, there are just a handful of projects on the market in Camberwell, underscoring the significance of a development of this scale and positioning.

[smartcode_project:default project_id=4896 project_image_fid=368544]

Camberwell House has been conceived with a clear focus on larger-format apartments. The project will offer a mix of two-, three- and four-bedroom residences, alongside a limited number of penthouses, targeting owner-occupiers seeking scale rather than volume-driven product.

The building’s vertical presence will also set it apart.

Positioned on Burke Road, the development is set to become one of the taller buildings in its immediate context, allowing for elevated outlooks across Melbourne’s CBD skyline and toward the Dandenong Ranges. In a precinct characterised by lower-scale built form, that height provides a point of differentiation, particularly for buyers seeking outlook and natural light.

[smartcode_project:default project_id=4896 project_image_fid=368568]

Architecture has been led by Cera Stribley, with interiors by GOLDEN and landscape design by Florian Wild. The design approach centres on material consistency and restraint, with residences oriented to maximise light, ventilation and connection to outdoor spaces.

Full-height glazing and generous terraces form a key part of that strategy, allowing apartments to extend beyond their internal footprint and engage with the surrounding environment.

Beyond the private residences, a significant component of the project is its amenity offering.

Above Zero has positioned Camberwell House as a “complete living environment”, incorporating a full floor dedicated to resident facilities. At the centre of that is a wellness zone, including a 12.5-metre lap pool, spa, sauna and treatment spaces, alongside a gym and recovery-focused amenities.

This level of amenity is more commonly associated with inner-city developments, rather than established middle-ring suburbs like Camberwell.

[smartcode_project:default project_id=4896 project_image_fid=368588]

Additional shared spaces include a private library lounge, dining and entertaining areas, and an indoor golf simulator. A self-contained guest suite has also been incorporated, allowing residents to accommodate visiting family or friends without impacting their primary living space.

The inclusion of these facilities reflects a broader shift in buyer expectations.

As more downsizers look to transition from larger family homes into apartments, there is increasing demand for developments that offer not just a residence, but a lifestyle. That includes access to wellness, social and entertaining spaces within the building itself, reducing the reliance on external amenity while still maintaining proximity to established precincts.

Camberwell House is positioned to benefit from both.

Its location places it within immediate walking distance of Camberwell Junction’s retail and dining offering, as well as public transport connections, including tram and train services. That combination of internal amenity and external convenience is central to its appeal.

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Jellis Craig Projects Director Stephen Bowtell is handling sales for the project and says Camberwell House offers a rare entry point into one of Melbourne’s most tightly held markets.

“Buyers are recognising that Camberwell House offers something they simply haven’t seen before in Boroondara,”&nbsp;Bowtell&nbsp;says.

“It combines a level of resident amenity and service typically associated with Melbourne’s premium inner-city developments, while being positioned right in the heart of Camberwell Junction.

“The response to the concierge offering has been particularly strong. Buyers appreciate not only the convenience, but also the sense of security and peace of mind that comes from having a dedicated presence in the building every day.

“When you combine that with the wellness facilities, the exceptional arrival experience, and panoramic views across both the CBD skyline and the Dandenong Ranges, it creates a lifestyle proposition that is genuinely unique within the local market.”
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[smartcode_project_cta:default project_id=4896]

Jonathan Chancellor

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