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The distraction of Christmas caught up with weekend auction listings.
Not harshly, but the clearance rates did dip into the low 70s as record volumes came in a late December flood.
One of the failed offerings was a former lolly shop in Williamstown.
Marketed at $1.1 million plus, the <a href="https://www.realestate.com.au/property-house-vic-williamstown-124190858" target="_blank">45 Stevedore Street listing</a> was passed in at $1,265,000.
The Herald Sun reported the residence attracted a $1.3 million written offer post-auction to RT Edgar Williamstown.
The five-bedroom 1900 property was being offered for the first time in 21 years last selling at $189,000 in 1995.
There was success however at Brighton's Dendy Beach.
A newly built bathing box, built by the local council, sold at a record price.
It was listed through Nick Johnstone Real Estate agent Alan McGillivray, who given its distant location on the strip, gave a cautious mid-$200,000s price guidance.
But Box 85 sold on Saturday for $326,000. Painted orange and yellow, the box exceded recent records when $295,000 was set in early 2016 and mid-year when <a href="https://www.realestate.com.au/property-house-vic-brighton-122566182" target="_blank">bathing box 44</a> sold at $307,000.
he auctioneer Nick Johnstone told the crowd only three more of the boxes will be built.
There were three bidders.
A $4.6 million Warrawee home topped the nation's weekend auction sales.
The <a href="https://www.propertyobserver.com.au/https://www.dijones.com.au/properties-sold/listings/2721" target="_blank">2a Pibrac Avenue</a> offering sold two days before the weekend auction having been marketed with $4.5 million expectations through Di Jones Real Estate.
<img src="/images/2016/12/18/Warrawee.jpg" alt="">
The five bedroom architecturally-designed home on its 1560 sq m block had last sold at $1.5 million in 2003.
The cheapest was $250,000 at Frankston.
The 7/74 Beach Street offering was <a href="https://www.realestate.com.au/property-apartment-vic-frankston-124242762" target="_blank">a top floor two bedroom apartment</a> that had been recently renovated.
<img src="/images/2016/12/18/Frankston.jpg" alt="">
It was last listed for rent at $250 a week in 2014.
Melbourne's top sale was when <a href="https://www.realestate.com.au/sold/property-house-vic-canterbury-124207586" target="_blank">24 Alexandra Avenue, Canterbury</a> sold through Marshall White for $4,012,000.
<img src="/images/2016/12/18/Canterbury.jpg" alt="">
The brick 1910 five bedroom home sold in 2012 at $2,505,000.
Two bidders battled it out after it went on the market at $3.8 million.
CoreLogic's Kevin Brogan noted the combined capital city clearance rate fell slightly to 70.5 per cent, down from last week’s 71.6 per cent.
The number of properties taken to auction also fell across the capital cities, with 2,722 reported auctions, down from 3,432 last week, which was the second busiest auction week of the year.
<a href="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.46.12%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.46.12%20pm.jpg" alt="">
"However, compared to the corresponding week last year, auction activity is significantly higher, with 1,818 auctions and a lower rate of clearance (59.4 per cent) reported over the same period last year."
He advised auction numbers will remain relatively sedate over the festive period.
<a href="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.46.19%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.46.19%20pm.jpg" alt="">
In Melbourne the number of homes taken to auction fell to 1,286, down from last week’s seasonal high of 1,685, with the preliminary clearance rate for the city also falling over the week (75.7 per cent), down from 78.4 per cent over the previous week.
"However, this is significantly higher than the corresponding week last year when 875 auctions were reported with a clearance rate of 65.7 per cent," he noted.
Across Melbourne’s sub-regions, the Inner South region recorded the highest preliminary clearance rate of all the regions, with 84.4 per cent of the 113 auctions successful, followed by the Mornington Peninsula region, where an 82.5 per cent preliminary clearance rate was recorded across 52 auctions.
<a href="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.51.12%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.51.12%20pm.jpg" alt="">
Across Sydney, there was a lower volume of auctions this week, with 874 held, down from 1,168 over the previous week.
The preliminary clearance rate for the city saw a slight increase over last week, up to 74.1 per cent from 73.7 per cent last week.
"When compared to the same time last year, both, the clearance rate and number of auctions held are significantly higher than the equivalent period, when a 61.2 per cent clearance rate was recorded across 456 auctions," he said.
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<img src="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.51.20%20pm.jpg" alt="">
The Sydney Northern Beaches region recorded the strongest clearance rate of all the Sydney sub-regions, with a 90.2 per cent preliminary rate of clearance across 64 auctions, while the Inner South West region recorded the highest volume of auctions (118).
There were 233 Brisbane properties taken to auction with a preliminary clearance rate of 45.7 per cent, up from 43.5 per cent last week and also higher than the same period last year, when 45 per cent of the 191 properties taken to auction were successful.
<a href="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.51.29%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.51.29%20pm.jpg" alt="">
Adelaide saw a preliminary clearance rate of 61.4 per cent across a total of 132 scheduled auctions.
"This is higher than the previous week, when Adelaide’s clearance rate was 58.3 per cent and also higher than the 57.3 per cent recorded one year ago."
<a href="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.51.39%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/18/Screen%20Shot%202016-12-18%20at%201.51.39%20pm.jpg" alt="">
Perth’s clearance rate of 30 per cent across 47 auctions was up from the previous week, when 76 auctions were held and a clearance rate of 20.0 per cent was recorded.
Over the same week last year, the clearance rate was lower, when 25.8 per cent of the 68 auctions were successful.
Canberra’s preliminary auction clearance rate of 65.5 per cent this week is higher than last week, when the final auction clearance rate was 60.8 per cent and also higher than the 52.2 per cent recorded last year. 
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jchancellor-FAypfDUnLy

Williamstown lolly shop fails to sell in pre-Christmas rush to auction

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The international fashion designer Collette Dinnigan and her hotelier husband Bradley Cocks have snapped up Springfield Farm, a European-style abode in the Southern Highlands.
<a href="https://www.propertyobserver.com.au/https://www.randw.com.au/property/278270" target="_blank">The charming Avoca offering</a>, with views to Mt Gibraltar, had been for sale for six years with a recent amended $4.75 million asking price.
The couple, back in Australia from their Italian base, secured the property after their recent stellar $9 million sale of of their Watsons Bay home to Justin and Dom Hind, co-founders of WiTH Collective digital advertising agency.
Entered via a gorgeous long tree-lined driveway, the property has two French-syle timber barn-style buildings either side of a sandstone structure.
There's a sensational living room with gas open fire and high raked ceiling with mezzanine level. 
There's five bedrooms plus a three bedroom groundkeepers' cottage.
<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/2016/12/18/Avoca.jpg" alt="">
The northerly views over lush pasture-land are a key feature of the property about 15 minutes' drive from Bowral.
The grounds have sweeping fully irrigated lawns, a tennis court, ornamental lake, plus stables and paddocks for horses.
There's the must have vege plot, fruit trees and even a small vineyard. 'An amazing property presented in pristine order," was how Richardson &amp; Wrench Bowral agent Michael Maloney marketed the eight hectare holding.
The vendors, Sydney barrister Stephen Flett and his wife, Di, bought the property 11 years ago for $2,525,000 from solicitor Gavin Solomon and his wife, Kathy and then spent $2.5 million upgrading it. 
Its initial pricing had $6 million expectations.
After selling their Careel Bay, Palm Beach retreat for $3.2 million to actor Sophie Lee and adman Anthony Freedman, Dinnigan retained a South Coast retreat and commercial space in Paddington.
This article was first published in the Sunday Telegraph
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Collette Dinnigan buys Springfield Farm in Southern Highlands

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 <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/2016/12/18/property_buyer_logo.jpg" alt="" style="display: block; margin-left: auto; margin-right: auto;">
Property has always been a keen investment for Australians, even among those staying abroad.
The Christmas break is often a time when Australian expatriates buy properties back in Australia to eventually occupy as their home when their overseas assignments end.
But those overseas trying to channel their hard-earned money here for investment and handy returns need to be wary. Or you will invariably pay a premium for the purchase if you’ve skipped proper research.
That's why many use a buyer's agent.
Download our with five tips for Australian expats thinking of buying a home this summer.
{rsform 78}
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Five tips for Australian expats thinking of buying home this summer

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A newly built bathing box, built by the local council, at Brighton has been sold at a record price.
It was listed through Nick Johnstone Real Estate agent Alan McGillivray for weekend auction.
Given its location on the strip, a cautious mid-$200,000s price guidance was being given for Box 85.
But it sold on Saturday for $326,000.
The orange and yellow striped box, number 85, smashed the previous records when $295,000 was set in early 2016 and mid-year when <a href="https://www.realestate.com.au/property-house-vic-brighton-122566182" target="_blank">bathing box 44</a> sold at $307,000.
The Herald Sun reported the auctioneer Nick Johnstone told the crowd only three more of the boxes will be built.
There were three bidders with it knocked down to Brighton East resident Warren Kerr, a father of three daughters.
There are far cheaper ones for sale, especially at Rosebud.
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Brighton's $326,000 record bathing box sale

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A newly built Rye home has been sold after just three weeks on the market.
<a href="https://www.realestate.com.au/sold/property-house-vic-rye-124029558" target="_blank">The 30 square offering</a> was a bespoke residence on a private 1,280sq m block with a Moonah forest backdrop.
The single level home sits on a 1275 sq m block that cost $333,000 in mid-2015.
The design plans were prepared by Mark Dixon for the Stepic family syndicate.
There is a glimpse of the South Channel marker along with the Melbourne city skyline to the North.
<img src="/images/2016/12/18/Rye-2.jpg" alt="">
The Tyrone foreshore and Whitecliffs beaches are close along with Blairgowrie village.
It came from the <a href="https://www.moonahblue.com/9-iolanda/" target="_blank">moonahblue</a> portfolio which includes other Rye new-builds for sale as well as the historic TB guest biscuit factory conversion in West Melbourne.
It had been architecturally designed to focus on modern space preferences, with living and master areas wrapping around a central alfresco deck which overlooks the pool.
It came with three bathrooms, including master ensuite.
<img src="/images/2016/12/18/Rye-3.jpg" alt="">
The property sold through Martin Huntley and Josh Callaghan at Fletchers Mornington Peninsula.
The street's last sale was 2a which fetched $655,000 through Ray White. The street's highest prior sale was $810,000 in 2010.
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Rye house sells at $1.19 million after just three weeks

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Melbourne's Windsor has been ranked as Australia's fastest growing median house growth suburb in 2016.
CoreLogic advised the median had jumped 47 percent annually.
It arose from 66 sales.
Windsor's median now sits at $1,284,000. <a href="https://www.realestate.com.au/sold/property-house-vic-prahran-123095574" target="_blank">An Edwardian semi</a> (above) that fetched $1.25 million in August closely reflected the median.
It had sold at $835,000 three years earlier, so reflected a more subdued 14 percent annual growth since 2013.
The 1910 semi had 90 sq m internal space on its 159 sqm block.
<a href="https://www.realestate.com.au/sold/property-house-vic-prahran-121992278" target="_blank">Another semi at the end of the row</a> (below) had sold a few months earlier at $1.23 million, having previously traded in 2004 at $480,000, reflecting eight percent annualised price growth.
<img src="/images/2016/12/18/27%20Fern%20Avenue.jpg" alt="">
The house sales at Windsor during 2016 have ranged from $807,000 to $4.85 million.
The $807,000 sale was a two bedroom contemporary townhouse at <a href="https://www.realestate.com.au/sold/property-townhouse-vic-prahran-121700410" target="_blank">1 Newry Lane</a> which sold through Jellis Craig in February.
The highest sale was when an 1860's solid brick hotel, converted into a family home, fetched $4.85 million at auction, almost $600,000 over reserve.
Bidding opened at $3.6 million with six bidders.
<a href="https://www.realestate.com.au/property-house-vic-prahran-121955482" target="_blank">Previously the Red Lion Hotel</a>, (above) 39 Duke Street has tall ceilings and rich period features in its warehouse style contemporary living space.
<img src="/images/2016/12/18/39%20Duke%20Street.jpg" alt="">
The property has five bedrooms, three bathrooms and a leafy atrium with indoor garden.
The most spectacular feature of the property is the 250 sqm secluded rooftop garden which has a large gas heated pool, sauna and orchard with views of the city skyline.
Having began life as the Red Lion Hotel during the 1860s gold rush, the pub closed in the 1920's and was used as a shirt-making factory and an ironmonger's workshop before being converted into the stylish warehouse-style home by Angela Sach.
The property has been in the same family for around 60 years.
RT Edgar's expectation was for the property to fetch $3.5 million at its March 19 auction.
It subsequently emerged that the buyers were comedian Gina Riley and her husband, TV producer Rick McKenna.
Riley broke onto TV screen as a performer in the sketch shows Fast Forward, sending-up singers including Paula Abdul, Bette Midler, Sinèad O'Connor and Dannii Minogue.
One of the reasons why the Windsor median jumped so much statistically was that the $4.85 million was $1.35 million above the next dearest which was $3.5 million for an 1880s freestanding house sold off-market at 51 The Avenue.
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Melbourne's Windsor, Australia's fastest growing median house growth suburb in 2016

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The former Austrian tennis champion Thomas Muster has sold one of his Noosa Heads riverfront properties. It was listed at $5.9 million.
It was the first he bought on the water paying $2.8 million in 2013, with the house then designed by architect Tim Ditchfield.
Muster first bought into Noosa in 1994 when he paid $1 million for Cintamani, a 35-hectare hinterland property.
<div id="story-description">
The head of Lend Lease’s Australian property arm, Kylie Rampa, has purchased the riverfront mansion through Noosa agent Tom Offermann Real Estate.
<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/phocagallery/06junemuster/muster_0002_m12.jpg.jpg" alt="">
Ms Rampa was previously CEO of the Gandel Group.
</div>
Muster spends time in Queensland because his former wife, Jo Beth Taylor, the former Australia's Funniest Home Videos host, has resided there on the Sunshine Coast with their son.
The article was first published in the Sunday Telegraph
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Tennis champ Thomas Muster secures Noosa sale

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Beattie Property Agents has merged its business with McGrath Sutherland Shire.
The Beattie agency advised the business merger this morning.
"We feel will deliver fantastic results for every one of our customers across sales and property management," Michael Beattie said.
"The real estate industry is changing rapidly with digital technology and buyer behaviour so this merger not only brings together the best people, marketing and resources but essential access to premium online strategies targeting local, out of area and overseas buyers who use internet as the primary source of enquiry," he added.
Beattie Property Agents has been serving the Sutherland Shire and St George property markets for over 15 years.
Its team have over 60 years’ combined industry experience.
Meanwhile McGrath has lost another senior eastern suburbs team member with Ben Collier quitting after 23 years.
<div>
Collier's much-denied departure comes along with the departure of two other Sydney agents, Shad Hassen and Brad Gillespie.
</div>
<div>"We greatly appreciate Ben, Shad and Brad's contribution to McGrath over a significant period," said McGrath chief Cameron Judson.</div>
<div> </div>
<div>Ben Collier had denied any plans to depart since he was mooted as next to go after McGrath Limited lost its <a href="/news/steven-chen-follows-lahood-and-shalhoub-out-the-door-at-mcgrath-group">head of sales, Matt Lahood and head of project marketing Steven Chen in October</a>.  </div>
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McGrath expands Sutherland Shire foothold

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The Melbourne house made famous by those Foxy Morons Kath and Kim has been sold.
The double-storey brick home in <a href="https://www.realestate.com.au/sold/property-house-vic-patterson+lakes-123882826" target="_blank">Patterson Lakes</a> was the abode of Kath Day-Knight and her butcher beau Kel Knight.
It was set in Fountain Lakes in the hit TV show.
It boasts four bedrooms, three bathrooms and two living areas.
<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/2016/12/15/Patterson%20Lakes-5.jpg" alt="">
The property at 4 Lagoon Place was listed with <a href="https://www.realestate.com.au/agency/ray-white-patterson-lakes-patterson-lakes-YULFRM" target="_blank">Ray White Patterson Lakes</a> who made the most of the celebrity link.
The home has its own private waterfront access and jetty, which was hidden during the ABC series.
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Kath and Kim's Patterson Lakes home sold

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It has certainly been an active time at the normally sleepy Church Point with Helena Harris, the award winning co-creator of the Hi-5 children's television show, quickly finding a buyer. 
Harris and partner Martin Perrott had renovated the bushland home since they paid $1.85 million in 2009. 
<a href="https://www.realestate.com.au/property/21a-mccarrs-creek-rd-church-point-nsw-2105" target="_blank">Iolanda Trovatello at Wiseberry Mona Vale</a> had a price guide of $2.9 million to $3.1 million for the five bedroom home with three marble bathrooms.
It sold within three weeks of listing. 
Harris' name is synonymous with successful children's television across the world, being also the originating producer of worldwide hit Bananas in Pyjamas in 1992.
The show won multiple Logies - and they sit prominantly on a mantlepiece at the McCarrs Creek Road home.
It has been one of Sydney's slowest selling suburbs at around 120 days on market, compared with the 26 day CoreLogic Sydney average.
One reason Church Point got the slow seller tag was miner Tony Haggarty. He took forever to sell ​his six bedroom Church Point retreat with its most recent marketing campaign extended over 10 months.
He secured $3,675,000 for the Walker Place offering with jetty having initially sought $5 million when it first listed on another marketing campaign in 2014.
Haggarty, the former chief executive of Whitehaven Coal, bought it in 2007 at $2.85 million.
The suburb has seen a record price paid when the Schebesta family bought an imposing home for $4.6 million.
The home on an elevated 1600 square metre block was designed by Lyn Frohlich with billiard room and home theatre.
Some of the five bedrooms open onto a generous wrap around balcony with panoramic Pittwater views.
There's a heated salt-water swimming pool, outdoor spa and alfresco kitchen.
Its purchase followed the family's longtime one bedroom fisherman's cottage on Scotland Island being sold for $840,000. 
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No longer as quiet as a Church Point offering

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.

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While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

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

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

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

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

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