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Melbourne developer Tim Gurner secured strong sales in his pre-launch of his South Melbourne project.
Architects Elenberg Fraser, interior designer David Hicks and landscaper Jack Merlo have collaborated on the nine-level building of 71 apartments set 200 metres from Albert Park Lake.
The 74 Eastern Road, South Melbourne pricing was set at $435,000 to $3.95 million through 360 Property Group.
All six penthouses were first to go bought by five buyers, with Gurner banking a total of $10.75 million.
One buyer bought two penthouses, outlaying $3.5 million to amalgamate the pair.
Gurner invested $1 million on the display suite.
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jchancellor-FAypfDUnLy

All the penthouses sell in Gurner South Melbourne project

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The fundamentals for a solid year for property for NSW and especially Sydney are all there, excepting some requisite sentiment.
The residential market after such an extraordinary run was ripe for the spooking especially after Macquarie Group forecast, rather vaguely, that Australian house prices would fall by 7.5 percent starting this year.
Ofcourse a drop of 7.5% in Sydney - which is not what they were suggesting - would only take back around one tenth of the 73 percent gain in dwelling house prices accrued since the end of the global financial crisis in 2009.
The small uptick in bank interest rates, higher for investors than owner occupiers, didn't help the buyer confidence extend into the spring selling season.
Now John Symond, executive chairman of Aussie Home Loans, recently suggested there's been talk at the top end of town of more to come.
"It would not surprise me if over the next few months that the banks creep up their lending rates, but I don't think they'll go through the roof."
"They may go up another 0.1 or 0.15," he tipped.
"But at the moment I think consumers want every bit of help they can get to give them that bit of confidence."
Problem was Sydney over reached in early 2015. One research group even calculated the Sydney median house price had suprisingly surged past $1 million a whole year ahead of their scheduling.
Crazy is not where the market should be anyway, especially as households’ ability to borrow relative to their income should be the most important factor in their purchase decision. Not the fear of missing out which dominated much of early last year.
But don't think the negative sentiment will necessarily disappear soon.
Global ratings agency Moody’s got headlines earlier this month when they warned of increased mortgage delinquencies over the coming year as the regions most vulnerable to mining were starting to show “some signs of stress”. The NSW Hunter Valley especially.
But back to those fundamentals. New South Wales is benefiting from record low net interstate migration outflow, and strong, albeit easing, net overseas migration.
The collapse in completions between 2006/07 and 2011/12 created a sizeable dwelling deficiency. Thankfully completions rose from 8,400 dwellings in 2011/12 to 33,400 dwellings in 2014/15, however BIS Shrapnel forecaster Angie Zigomanis suggests the deficiency of 42,300 dwellings will take some time for the market to return to balance.
While rental growth is certainly subdued, investors will be bouyed that vacancy rates in inner and middle Sydney fell below the balanced market rate of three percent in 2005 and have not been higher since. 
Drive anywhere around Sydney and the emergence of an instrastructure spend is evident. Light rail in the east or progress on the new roads to support the Western Sydney Airport at Badgerys Creek.
Yes macroeconomic cyclical factors are likely to periodically play something a spoiler role in price growth during 2016, but we ought emerge stronger from it. 
This article was first published in the Saturday Daily Telegraph.
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Sydney's fundamentals are in place, but perhaps not the sentiment

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<div>One of those photogenic bathing boxes on Brighton beach bettered the Melbourne bayside's price record when $295,000 was paid at weekend auction.</div>
<div>
<a href="https://www.hockingstuart.com.au/BATHING_BOX_62B,_DENDY_STREET_BEACH_BRIGHTON_VIC_3186">Positioned on the Dendy Street foreshore</a>, the record had stood at $285,000 since late last month.
But dig a bit deeper into the ever shifting sands of Melbourne property and not every price is heading skyward.
The cheapest weekend Melbourne auction result represented a significant loss for the vendor.
The inner Melbourne studio apartment fetched $170,000, above the $155,000 pre-auction price guidance, but less than the $282,000 sale in 2011.
The Malaysian based investor vendor had been securing around $288 a week in rental, plus NRAS concessions.
In an unexpected early 2016 auction results twist, CoreLogic RP Data calculated Melbourne’s auction clearance rate has slipped below Sydney’s for the first time since mid-September last year. 
<a href="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%209.07.50%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%209.07.50%20AM.png" alt="">
No surprise Sydney topped the nation's weekend auction prices when $3.63 million was paid in Lindfield on its upper north shore. The 2010 Harvey Little-renovated four bedroom brick Lindfield home traded at $3.18 million two years ago, reflecting a nice six percent annual price gain.
<a href="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%209.04.06%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%209.04.06%20AM.png" alt="">
A $3.175 million Unley Park, Adelaide sale also easily exceeded Melbourne's top sale of $2.625 million in Hawthorn. The 1910 Edwardian Hawthorn home, that last sold in 1988 at $331,000, helped Melbourne's inner east as the strongest performing Melbourne sub-region with a formidable 81 per cent clearance rate across 52 auctions.
"There really is bugger all quality stock on offer right now," Melbourne buyer's agent Mal James suggested.
Not entirely the case as My Super Nanny childcare entrepreneur Stephanie Wakefield's Hampton property fetched $1.66 million on Saturday.
The fashionably styled home was listed with initial $1.5 million plus hopes, which were then revised up to $1.6 million plus.
In Sydney many buyers seemingly aren't waiting for the auction.
Australian test cricket vice captain David Warner and his wife Candice secured a bullish $7 million plus sale of their South Coogee home three weeks ahead of its intended auction.
The sale was easily above the $6.25 million paid two years ago by the couple who listed following their $4 million purchase of a oceanfront building block in Maroubra. 
After a shocking January kickoff, Sydney's Saturday auction clearance rate remained above 70 percent for the second successive weekend, suggesting the earlybirds vendors will do fine while stock levels stay low.
Volumes are set to ramp up shortly ahead of the earlier than usual Easter break.
But currently new listings in Sydney are at their lowest level for this time of year since 2012, according to CoreLogic RP Data.
Big differences are emerging though across the regions as North Sydney and Hornsby are sitting on a 92 per cent success rate while the South West secured just 52 per cent over the week to February 14. 
CoreLogic RP Data notes Sydney had shown a "remarkable bounce" in clearance rates, recording a 78 per cent preliminary clearance rate over the last week, compared with clearances that were tracking in the high 50 per cent range last December.  
<a href="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%209.05.21%20AM.png" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
<img src="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%209.05.21%20AM.png" alt="">
The national preliminary auction clearance rate once again surprised on the upside, rising to 72 per cent this week, compared to 70 per cent last week and 74 per cent over the same week one year ago.
The 1330 national auction volumes are higher than they were last week's 916 residential homes were taken to auction, however they are still tracking below the 1540 volume recorded over the same week last February. 
</div>
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Sydney overtakes Melbourne on clearance rates, not withstanding fresh bathing box record

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The boss of the diversified property group Mirvac expects fewer Asia-based buyers, as the company delivered a 69 percent increase in profit to $472 million.
Its chief executive Susan Lloyd-Hurwitz said the residential property market had passed an "inflection point" and said the commercial property market was "nearing the end of the cap rate compression cycle." 
"We are keeping a keen eye on the property cycle," Ms Lloyd-Hurwitz said last week when Mirvac Group reported its interim results for the half year ended 31 December 2015.
But she noted NSW had a "stronger for longer construction cycle" being underpinned by broad new infrastructure projects.
<a href="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%208.44.03%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%208.44.03%20AM.png" alt="">
It has $877 million of residential pre-sales expected to settle in 2H16 after strong 1H16 residential gross margins of 25.3%, driven by outperformance of Sydney MPC projects and Melbourne apartments.
The group achieved record $2.6 billion of pre-sales, up from $2 billion at FY15 including securing 88% and 73% of expected FY16 and FY17 Development EBIT respectively, driven by record level of residential pre-sales.
Noting its resilience through brand equity — and a hgh level of repeat buyers with up to 25% of sales on some projects - the updated noted it had maintained its long-term average of less than 1% defaults.
<a href="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%208.45.49%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%208.45.49%20AM.png" alt="">
<div class="cq-article-content-paras section">
Most analysts, according to the Australian Financial Review, focused their questions during the results briefing on the security of Mirvac's apartment settlements especially to offshore buyers.
"We do expect some moderation of offshore demand but we expect to see continued investor and owner occupier demand from Asia but at a little lower rate than last year," Ms Lloyd-Hurwitz said.
Some 14 percent of Mirvac's lot settlements went to offshore buyers and each addition purchase over 20 per cent of a project has to be given special individual approval by group executive for residential development John Carfi, it emerged.
</div>
<div class="cq-article-content-media section"> </div>
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Expecting fewer Asian buyers, Mirvac keeping a keen eye on the property cycle

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The world class winery Sweetwater, located in the rolling hills of the Hunter Valley, goes under the hammer in three weeks at half the earlier price expectations.
Inspired by southern European vineyard estates, the<a href="https://jurds.com.au/listings/rural_sale-319321-pokolbin/" target="_blank"> 48 hectare Pokolbin holding comes with $15 million plus hopes</a>.
Chinese buyers have heard of the repricing which has triggered a spate of recent inspections by international visitors.
Cabernet Sauvignon and Shiraz vines cover a third of the estate which dates back to the colonial 1840s.
"Chinese interest in Hunter Valley vineyards is certainly back up to the levels we saw in late 2011 and early 2012," Jurds listing agent Cain Beckett said.
"It seems the recent Chinese stock market crash and threat of a devalued RMB has created the urgency to get money into safer havens and our falling dollar is why many investors are favouring Australia."
But he cautioned his experience over the last six months was that getting the funds out of China had become increasingly difficult causing lengthy delays with exchange and preventing some sales from completing.
Not just a winery and olive grove, the main residence is a stunning Mediterrean style construction that features private and guest wing accommodations.
Duncan Hardie's Sweetwater Wines purchased the land in 1997 with most of the vineyards dying or being grazed by cattle.
Hunter Valley wine veteran Brian McGuigan provided early advice on the layout and planting, having worked on the vineyard when he was about 18 years old.
It is being marketed by Alan Jurd of Jurds Real Estate as the "most significant country vineyard estate in Australia."
He expects a sale between $14 million and $20 million.
Alan had initially been asked to list it at over $30 million last year.
"We are receiving a lot of enquiry and to date have had several inspections with buyers based in China," he said.
Jurds Real Estate director Cain Beckett suggested the falling Australian dollar was one of the reasons for why the Chinese interest in Hunter Valley vineyards is back.
There was a spurt in Chinese activity in 2011 where The Golden Grape Estate, The Capercaillie and Windsors' Edge were all bought by Chinese investors.
Directors of the Chinese division of the marketing firm Amway bought a vineyard in 2013 for $3.8 million.
Cain said unlike 2011 and 2012 there was now strong competition from the Australian buyer spurred mostly by a strong Sydney property market and strong cattle prices.
He suggested cattle could be grazed supplementary to the vineyard but it would not be the primary use due to the strong reputation of the award-winning Shiraz produce.
Brian McGuigan has recently bought a Hunter Valley cattle farm.
Sweetwater Wines, part of the Hardie Holdings group, purchased the land in 1997 in Belford from Belford Pastoral Company, which was originally granted to the pioneering Richard Jones, a merchant and pastoralist.
In 1829 Jones had received 10,000 acres at Singleton in the Hunter Valley from where he established one of his finest vineyards in the Patrick Plains Shore at Sweetwater Creek off Old North Road. 
In 1844 from Jones’s first plantings, his vineyard produced a total of 2,000 gallons of wine. 
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Sweetwater, Pokolbin set to tempt Chinese buyers with price reduction

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Around $7.4 million has been secured by the former Microsoft executive Daniel Petre for his Lavender Bay 1886 mansion, Alta Mura. 
Petre and wife, Carolyn bought the Lavender Bay property from Sydney barrister Clive Steirn for $6.4 million shortly after setting the Killara record for his $11.5 million sale in 2011.
They renovated the five bedroom Victorian home with swimming pool amid the landscaped gardens.
Alta Mura had an asking price of $7.7 million through Belle Property agent Tim Foote in conjunction with McGrath agents Nigel Mukhi and Piers van Hamburg.
Petre and his wife Carolyn have bought the nearby four bedroom Villa Medusa for $8 million after listing Alta Mura early last year.
<div>
<div>REA Group chairman Hamish McLennan and his wife Lucinda are the reported buyers of Alta Mura.</div>
</div>
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Daniel Petre sells Lavender Bay's Alta Mura

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There were 92 suburbs in Melbourne that had a median house price in excess of a million dollars in December Quarter 2015, according to the REIV.
Of these, 45 suburbs had 30 or more sales in the quarter. There were thirteen new entrants to this list over the quarter: Brunswick East, East Melbourne, Flinders, Hampton East, Middle Park, Parkdale, Parkville, Research, Rosanna, Sorrento, St Kilda West, Thornbury and Warrandyte. Eight suburbs - Brunswick East, Hampton East, Parkdale, Parkville, Research, Rosanna, Sorrento and Thornbury - returned to the list in the three months to December 2015.  * denotes less than 30 sales in the quarter
 
<table dir="ltr" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td data-sheets-value='[null,2,"Suburb"]'>Suburb</td>
<td data-sheets-value='[null,2,"Dec-15 Median"]'>Dec-15 Median</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"EAST MELBOURNE*"]'>EAST MELBOURNE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2842500]">$2,842,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"TOORAK"]'>TOORAK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2840000]">$2,840,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ST KILDA WEST*"]'>ST KILDA WEST*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2700000]">$2,700,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CANTERBURY"]'>CANTERBURY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2432000]">$2,432,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MIDDLE PARK*"]'>MIDDLE PARK*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2290000]">$2,290,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MALVERN"]'>MALVERN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2230000]">$2,230,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BRIGHTON"]'>BRIGHTON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2225000]">$2,225,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ARMADALE*"]'>ARMADALE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2200000]">$2,200,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"KEW"]'>KEW</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2140000]">$2,140,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BALWYN"]'>BALWYN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2100000]">$2,100,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HAWTHORN EAST"]'>HAWTHORN EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2050000]">$2,050,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PORTSEA*"]'>PORTSEA*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2050000]">$2,050,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HAWTHORN"]'>HAWTHORN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2015625]">$2,015,625</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CAMBERWELL"]'>CAMBERWELL</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1877500]">$1,877,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"GLEN IRIS"]'>GLEN IRIS</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1853000]">$1,853,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HAMPTON"]'>HAMPTON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1850000]">$1,850,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SOUTH YARRA"]'>SOUTH YARRA</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1833000]">$1,833,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SURREY HILLS"]'>SURREY HILLS</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1759389]">$1,759,389</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BALWYN NORTH"]'>BALWYN NORTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1725000]">$1,725,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"KEW EAST*"]'>KEW EAST*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1723000]">$1,723,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CAULFIELD*"]'>CAULFIELD*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1711000]">$1,711,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"EAGLEMONT*"]'>EAGLEMONT*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1700000]">$1,700,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ELWOOD"]'>ELWOOD</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1650000]">$1,650,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PARKVILLE*"]'>PARKVILLE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1600000]">$1,600,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ALPHINGTON*"]'>ALPHINGTON*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1590000]">$1,590,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BRIGHTON EAST"]'>BRIGHTON EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1580000]">$1,580,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"FITZROY*"]'>FITZROY*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1580000]">$1,580,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CAULFIELD NORTH"]'>CAULFIELD NORTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1560000]">$1,560,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ALBERT PARK*"]'>ALBERT PARK*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1550000]">$1,550,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MONT ALBERT*"]'>MONT ALBERT*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1534000]">$1,534,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MALVERN EAST"]'>MALVERN EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1520500]">$1,520,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"IVANHOE"]'>IVANHOE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1505500]">$1,505,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PRAHRAN"]'>PRAHRAN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1485000]">$1,485,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SANDRINGHAM"]'>SANDRINGHAM</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1472500]">$1,472,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BLACK ROCK*"]'>BLACK ROCK*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1460000]">$1,460,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ASHBURTON"]'>ASHBURTON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1426000]">$1,426,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BEAUMARIS"]'>BEAUMARIS</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1425000]">$1,425,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ELSTERNWICK"]'>ELSTERNWICK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1408750]">$1,408,750</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CARLTON*"]'>CARLTON*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1400000]">$1,400,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PARK ORCHARDS*"]'>PARK ORCHARDS*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1380000]">$1,380,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BOX HILL*"]'>BOX HILL*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1375000]">$1,375,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"NORTH MELBOURNE*"]'>NORTH MELBOURNE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1367500]">$1,367,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ORMOND*"]'>ORMOND*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1365000]">$1,365,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SOUTH MELBOURNE*"]'>SOUTH MELBOURNE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1362500]">$1,362,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"TEMPLESTOWE"]'>TEMPLESTOWE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1353000]">$1,353,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ABERFELDIE*"]'>ABERFELDIE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1342500]">$1,342,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ST KILDA EAST*"]'>ST KILDA EAST*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1330000]">$1,330,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ESSENDON"]'>ESSENDON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1315000]">$1,315,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CAULFIELD SOUTH"]'>CAULFIELD SOUTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1313000]">$1,313,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CARNEGIE*"]'>CARNEGIE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1300000]">$1,300,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"FAIRFIELD*"]'>FAIRFIELD*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1300000]">$1,300,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"FLINDERS*"]'>FLINDERS*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1300000]">$1,300,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BENTLEIGH"]'>BENTLEIGH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1295000]">$1,295,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MCKINNON*"]'>MCKINNON*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1288750]">$1,288,750</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MURRUMBEENA*"]'>MURRUMBEENA*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1285000]">$1,285,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MOUNT WAVERLEY"]'>MOUNT WAVERLEY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1281250]">$1,281,250</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"DONCASTER"]'>DONCASTER</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1260000]">$1,260,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ST KILDA*"]'>ST KILDA*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1257000]">$1,257,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MONT ALBERT NORTH*"]'>MONT ALBERT NORTH*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1253500]">$1,253,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PORT MELBOURNE"]'>PORT MELBOURNE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1252500]">$1,252,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BOX HILL SOUTH"]'>BOX HILL SOUTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1238000]">$1,238,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"FITZROY NORTH*"]'>FITZROY NORTH*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1224250]">$1,224,250</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"RICHMOND"]'>RICHMOND</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1220000]">$1,220,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CARLTON NORTH*"]'>CARLTON NORTH*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1210000]">$1,210,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CLIFTON HILL*"]'>CLIFTON HILL*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1206000]">$1,206,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BURWOOD"]'>BURWOOD</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1190000]">$1,190,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BLACKBURN"]'>BLACKBURN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1188000]">$1,188,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"GLEN WAVERLEY"]'>GLEN WAVERLEY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1185000]">$1,185,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"WILLIAMSTOWN"]'>WILLIAMSTOWN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1179500]">$1,179,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"DONVALE*"]'>DONVALE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1162500]">$1,162,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"STRATHMORE"]'>STRATHMORE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1160500]">$1,160,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"DONCASTER EAST"]'>DONCASTER EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1160000]">$1,160,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"NORTHCOTE"]'>NORTHCOTE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1106250]">$1,106,250</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ASHWOOD*"]'>ASHWOOD*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1103500]">$1,103,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CLAYTON*"]'>CLAYTON*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1100500]">$1,100,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SORRENTO*"]'>SORRENTO*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1100000]">$1,100,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HAMPTON EAST*"]'>HAMPTON EAST*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1081000]">$1,081,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HUGHESDALE*"]'>HUGHESDALE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1080250]">$1,080,250</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"TEMPLESTOWE LOWER"]'>TEMPLESTOWE LOWER</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1070000]">$1,070,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PARKDALE"]'>PARKDALE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1062500]">$1,062,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"VERMONT SOUTH"]'>VERMONT SOUTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1049000]">$1,049,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BULLEEN*"]'>BULLEEN*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1038000]">$1,038,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"OAKLEIGH*"]'>OAKLEIGH*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1037500]">$1,037,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"WARRANDYTE"]'>WARRANDYTE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1030000]">$1,030,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"RESEARCH*"]'>RESEARCH*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1027500]">$1,027,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BOX HILL NORTH"]'>BOX HILL NORTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1025000]">$1,025,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BRUNSWICK EAST*"]'>BRUNSWICK EAST*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1020000]">$1,020,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"WINDSOR*"]'>WINDSOR*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1020000]">$1,020,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"THORNBURY"]'>THORNBURY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1017000]">$1,017,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BENTLEIGH EAST"]'>BENTLEIGH EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1015000]">$1,015,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ROSANNA*"]'>ROSANNA*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1010000]">$1,010,000</td>
</tr>
</tbody></table>
</body></html>

Melbourne's 92 million dollar median suburbs: REIV

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Lawyers who prepare Wills regularly as part of their usual practice are familiar with the expression ‘only a simple Will’ and just as regularly understand there is no such creature, as a Will is only as simple as the personal circumstances and assets of the client.
In this newsletter we examine matters which should form part of a client’s instructions to a lawyer when making a will. Failure to consider and discuss these particular matters can have serious implications for your intended beneficiaries.
1. Your personal circumstances
The intentions in your will can be thwarted and the estate’s assets diminished by significant legal costs if a successful family provision claim is brought against your estate. When making a will it is therefore important a potential claim is discussed with your lawyer. This requires establishing the existence of:
<ul>
<li>a current or former spouse,</li>
<li>a current or former de facto spouse,</li>
<li> children; and</li>
<li>other persons who may be eligible under legislation to bring a claim for provision </li>
</ul>
2. Your assets
The provisions of a Will reflecting your wishes only have effect in accordance with those wishes if the assets held at the time of your death and forming part of your estate can be conveyed to the intended beneficiaries. Realty is to most clients an important asset, whose ownership must be considered and advice sought.
Joint assets pass on the death of a joint owner by survivorship and operation of law to the surviving joint owner, regardless of the provisions of the will, and do not form part of your estate. Implications which arise from this include:
2.1. Severing a joint tenancy: Any jointly held real estate must be identified before finalising your will. A Will that purports to leave an interest in a joint asset to a beneficiary will fail, and the named beneficiary will be disappointed. You need to discuss with your lawyer the rights of joint owners and the ability to sever the joint tenancy to create a tenancy in common of a half share which can be conveyed by your will.
2.2. Creating a joint tenancy: This is a correlation of the previous issue, namely, by creating a joint tenancy in relation to assets held as tenants in common with an intended beneficiary may remove the asset from the estate. (Uniquely in NSW (compared to other states) this will not however prevent a notional estate orderbeing made whereby half the property can in certain circumstances become available to satisfy an order for provision in favour of an eligible claimant. It is still useful for the other reasons stated below.)
In either case, the means of conducting a title search against realty are readily available, whereby the determination of whether assets are held solely, or as tenants in common, or joint tenants can easily be ascertained and advice given.
A recent decision of the Tasmanian Full Court drew attention to the above matters which are the subject of necessary and proper instructions when considering a will.
Superannuation is an asset that may or may not be within your control to dispose of by Will.  Advice should be sought as to the potential destination of superannuation benefits, the existence of binding nominations, and taxation advantages of leaving superannuation to dependents who will receive it tax free.
3. Other considerations when making your will
Creating a Joint Tenancy- for ease of estate administration
If your intention is to leave the home in your sole name to your spouse, you may consider creating a joint tenancy in favour of your spouse to minimise the costs of Probate which would be incurred on your death if the asset remained in your sole name and therefore part of your estate.  Whilst there may be duty implications in the creation of a joint tenancy, an exemption from duty applies in the case of the matrimonial home.
Similarly where the testator holds assets as tenants in common with the intended beneficiary named in the will, and whether spouse or not, no duty is attracted by creating a joint tenancy.
The costs of registration of a notice of death are minimal in comparison with the costs of a probate application.
Preparation of a Statement by Testator:
You may consider the preparation of a statement for use in evidence in the event of a claim against your estate, setting out factual matters which may only be within your knowledge, or which may otherwise assist the defence of a claim after your death.  
This could include reference to provision made during your lifetime to the potential claimant, annexing bank or other documents which evidence such provision having been given.  Without the statement, the executors who will be defending the claim may have been unaware of the provision given to the plaintiff during your life, or other facts raised in the statement, which would have been useful evidence in the defence of a claim. 
Statements by a testator setting out the nature of a relationship may also assist the defence of a claim by a person alleging the existence of a de facto relationship.  Whilst such statements have limited weight given the testator cannot be cross-examined, the Court may take the statement into account, when the only other evidence before the Court may be the unchallenged evidence of the claimant seeking to prove a relationship.
Any such statements should be prepared carefully with the assistance of an experienced estate planning lawyer.
For more information, check out TressCox Lawyers <a href="https://www.tresscox.com.au" target="_blank">here</a>.
</body></html>

Property 101: No such thing as a simple will

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An iconic North Beach home sold for more than $6 million at auction late last year.
Mystery has surrounded the local buyer - represented by a buyer's agent with bidder card 13 - at the auction where 10 others sough to secure <a href="https://www.domain.com.au/157-west-coast-drive-north-beach-wa-6020-2012306972" target="_blank">157 West Coast Drive</a>.
It sold under the hammer for $6,125,000 through Realmark agent Jason Kuriata.
It was the highest price paid for a property at auction in Perth last year, but at less than its 2011 sale price of $7.2 million.
The property had previously been on the market with another Realmark agent via private sale since early 2014 seeking $8 million plus.
Around 400 people inspected the six-bedroom, seven bathroom 2005-built home sprawling across 935 square-metres living space.
The architecturally-designed home has a six–person lift.
</body></html>

Iconic North Beach, Perth trophy home sold for $6.1 million 

<html><body>
Melbourne’s median price has moderated following four successive quarters of growth, providing positive news for house hunters in 2016.
The median price fell marginally in the December quarter – down 0.1 per cent to a median house price of $718,000 – following solid growth of 4.5 per cent in September. 
REIV Chief Executive Officer, Enzo Raimondo, said a high proportion of sales in Melbourne’s outer ring in the last quarter of 2015 had assisted in stabilising the housing market. 
“Melbourne’s outer suburbs saw the strongest capital growth in the December quarter, up 2.9 per cent over September figures,” he said.
Suburbs in the city’s outer north east dominated the list of top growth suburbs with Warrandyte recording growth of more than 19 per cent - rejoining the million dollar club with a median house price of $1,030,000.
<h3>The graph below depicts median house and unit prices in Melbourne over the past decade in seasonally adjusted terms.</h3>
<a href="https://www.propertyobserver.com.au/images/2016/02/11/Screen%20Shot%202016-02-11%20at%2011.32.41%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2016/02/11/Screen%20Shot%202016-02-11%20at%2011.32.41%20AM.png" alt="">*All quarterly median prices are seasonally adjusted and quarterly. Annual change is based on rolling annual figures.
Greenvale and Sunshine were also strong performers in December, up more than 17 per cent over the previous quarter. 
“Eight of the top 20 growth suburbs have a median house price below $600,000 and six of these are below $520,000. The median house price in Werribee increased more than $30,000 in the December quarter to $357,000.
“This level of growth in areas that are traditionally seen as affordable suburbs indicates buyer demand for space and affordability.”  
“Improved infrastructure in the city’s outer ring, including rail links and upgraded roads, are really boosting prices in these suburbs.” 
Mr Raimondo said there had been a distinct shift away from more expensive Melbourne suburbs with buyers now looking at emerging growth areas. 
“Demand for suburbs in Melbourne’s middle ring ebbed this quarter, as buyers sought  value further from the city’s CBD.” 
He said the city’s moderating housing market represented good news for those looking to get a foothold on the property ladder. 
“While 2015 was a remarkable year for vendors, a moderating market favours buyers with more room for negotiation,” he said. 
Meanwhile, suburbs in Melbourne’s inner ring continued to perform well at the end of 2015 with the median house price reaching $1,252,000 for the first time – a 1.3 per cent quarterly increase. 
Widespread growth was also recorded for units and apartments, up 1.6 per cent across the city to a median of $537,500. 
Regional Victoria was the state’s main growth driver in median prices in the December quarter, outstrippingMelbourne. REIV data shows house prices in regional Victoria rose 2.2 per cent in the last three months of 2015 to a median of $353,000, up from $345,500 in September.  The price of units and apartments also increased in December, up 2.3 per cent to a median of $268,500. Meanwhile, growth in Melbourne moderated with the median house price down 0.1 per cent in December to $718,000. REIV Chief Executive Officer, Enzo Raimondo, said price growth in regional areas appeared to be driven by willingness by city dwellers to live further from the Melbourne CBD and commute - and by a new trend, with city dwellers migrating from Melbourne to live full-time in country areas. “We’ve seen prices in major regional areas within 90 minutes of Melbourne grow in price, suggesting city commuters are looking further afield for lifestyle and value reasons,” he said. “Many regional centres within commuting distance of Melbourne are increasingly sought-after by those priced out of the Melbourne market.”  Mr Raimondo said a further, interesting trend is for price growth in towns and cities further from Melbourne, in the most recent quarter. “We’ve seen growth in larger regional centres further from Melbourne in the final few months of 2015.” These include Bairnsdale, Echuca, Swan Hill, Mildura and Warrnambool, he said. “This latter trend is more likely being driven by homebuyers looking to migrate to regional areas to work or retire in regional Victoria, with many seeking to swap the city for the more relaxed living in the regional and rural areas.”
Melbourne’s median price has moderated following four successive quarters of growth, providing positive news for house hunters in 2016.
The median price fell marginally in the December quarter – down 0.1 per cent to a median house price of $718,000 – following solid growth of 4.5 per cent in September. 
REIV Chief Executive Officer, Enzo Raimondo, said a high proportion of sales in Melbourne’s outer ring in the last quarter of 2015 had assisted in stabilising the housing market. 
“Melbourne’s outer suburbs saw the strongest capital growth in the December quarter, up 2.9 per cent over September figures,” he said.
Suburbs in the city’s outer north east dominated the list of top growth suburbs with Warrandyte recording growth of more than 19 per cent - rejoining the million dollar club with a median house price of $1,030,000.
<div>
 <table dir="ltr" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td data-sheets-value='[null,2,"Metro Melbourne"]'>Metro Melbourne</td>
<td data-sheets-value='[null,2,"Dec-15 Quarter"]'>Dec-15 Quarter</td>
<td data-sheets-value='[null,2,"% chg to last q"]'>% chg to last q</td>
<td data-sheets-value='[null,2,"Sep-15 Quarter"]'>Sep-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual Change"]'>Annual Change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"House"]'>House</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,718000]">$718,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,-0.001]">-0.10%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,719000]">$719,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.08]">8.00%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Unit"]'>Unit</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,537500]">$537,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.016]">1.60%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,529000]">$529,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.05]">5.00%</td>
</tr>
<tr>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Inner"]'>Inner</td>
<td data-sheets-value='[null,2,"Dec-15 Quarter"]'>Dec-15 Quarter</td>
<td data-sheets-value='[null,2,"% chg to last q"]'>% chg to last q</td>
<td data-sheets-value='[null,2,"Sep-15 Quarter"]'>Sep-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual Change"]'>Annual Change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"House"]'>House</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1252000]">$1,252,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.013]">1.30%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1236500]">$1,236,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.17]">17.00%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Unit"]'>Unit</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,562000]">$562,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.005]">0.50%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,559000]">$559,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.021]">2.10%</td>
</tr>
<tr>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Middle"]'>Middle</td>
<td data-sheets-value='[null,2,"Dec-15 Quarter"]'>Dec-15 Quarter</td>
<td data-sheets-value='[null,2,"% chg to last q"]'>% chg to last q</td>
<td data-sheets-value='[null,2,"Sep-15 Quarter"]'>Sep-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual Change"]'>Annual Change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"House"]'>House</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,837000]">$837,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,-0.022]">-2.20%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,855500]">$855,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.132]">13.20%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Unit"]'>Unit</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,596500]">$596,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.018]">1.80%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,586000]">$586,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.088]">8.80%</td>
</tr>
<tr>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Outer"]'>Outer</td>
<td data-sheets-value='[null,2,"Dec-15 Quarter"]'>Dec-15 Quarter</td>
<td data-sheets-value='[null,2,"% chg to last q"]'>% chg to last q</td>
<td data-sheets-value='[null,2,"Sep-15 Quarter"]'>Sep-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual Change"]'>Annual Change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"House"]'>House</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,559000]">$559,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.029]">2.90%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,543000]">$543,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.086]">8.60%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Unit"]'>Unit</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,425000]">$425,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.032]">3.20%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,412000]">$412,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.051]">5.10%</td>
</tr>
</tbody></table>
</div>
<div> </div>
<div>Greenvale and Sunshine were also strong performers in December, up more than 17 per cent over the previous quarter.  “Eight of the top 20 growth suburbs have a median house price below $600,000 and six of these are below $520,000. The median house price in Werribee increased more than $30,000 in the December quarter to $357,000. “This level of growth in areas that are traditionally seen as affordable suburbs indicates buyer demand for space and affordability.”  “Improved infrastructure in the city’s outer ring, including rail links and upgraded roads, are really boosting prices in these suburbs.” Mr Raimondo said there had been a distinct shift away from more expensive Melbourne suburbs with buyers now looking at emerging growth areas.  “Demand for suburbs in Melbourne’s middle ring ebbed this quarter, as buyers sought  value further from the city’s CBD.” He said the city’s moderating housing market represented good news for those looking to get a foothold on the property ladder.  “While 2015 was a remarkable year for vendors, a moderating market favours buyers with more room for negotiation,” he said.  Meanwhile, suburbs in Melbourne’s inner ring continued to perform well at the end of 2015 with the median house price reaching $1,252,000 for the first time – a 1.3 per cent quarterly increase.  Widespread growth was also recorded for units and apartments, up 1.6 per cent across the city to a median of $537,500. </div>
Prices for regional Victoria are also <a href="https://www.reiv.com.au/RESEARCH/Sales-Data/Median-Prices-in-the-Regions" target="_blank">available</a>.
 
</body></html>

Melbourne's median falls in December quarter: REIV

Having successfully expanded into a new region with its Caloundra apartment development, Sunset by Dusk Group, growing South East Queensland developer Dusk Group is again venturing into new territory.

The developer has lodged plans for a 70-apartment project in the Moreton Bay region, to be known as <a href="https://www.apartments.com.au/new-apartments/sunrise-on-sutton-25-sutton-street-redcliffe-qld-4020">Sunrise on Sutton</a>, named after its prime Sutton Street location, just one street back from Suttons Beach.

<img alt="Sutton" data-entity-type="file" data-entity-uuid="88a9f9ee-6ace-47f5-a0c6-8fb134b27e98" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-15%20at%209.20.42%E2%80%AFAM.png?VersionId=iMXmJ7_BNZAmCt.jjupMSLdV_Qa9zJAK" />

Dusk Group Directors Huw Feeney and Anthony Short seized the opportunity to acquire the near-1,800 sqm amalgamated corner site at Sutton and Ella Streets for their first project in the area.

They have again enlisted MAS Architecture Studio, the architects behind Sunset by Dusk, to design the new eight-storey development.

The building will comprise a mix of one, two and three-bedroom apartments and has been designed to maximise views towards Suttons Beach, Margate Beach and Moreton Bay.

Pending approvals, the project could launch before the end of the year.

<img alt="Dusk" data-entity-type="file" data-entity-uuid="90c0c26c-096c-4ceb-8c58-f8303aea542f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-15%20at%209.20.49%E2%80%AFAM.png?VersionId=nw8bqQtpOrf5nA95tuYhtqdB59YUzmO0" />

The development will provide 111 car parking spaces and 40 bicycle spaces.

Positioned within walking distance of Suttons Beach, Bluewater Square, Redcliffe Hospital and the Redcliffe Paceway, the development will sit within one of the peninsula's increasingly urbanised coastal pockets.

Redcliffe's new apartment market remains exceptionally tight, with Gardner Vaughan Group's One Redcliffe currently the only new apartment development actively being marketed in the beachside suburb.

It's another beach-focused development for Dusk Group, who has seen considerable success at its Caloundra apartment development, <a href="https://www.apartments.com.au/new-apartments/sunset-by-dusk-group-caloundra-5-7-bombala-terrace-caloundra-qld-4551">Sunset by Dusk Group</a>.

Over 80 per cent of the 36 apartments have sold ahead of its early 2027 completion.

&nbsp;

Joel Robinson

First look: Dusk Group targets Suttons Beach precinct with 70-apartment Redcliffe proposal

Leading Brisbane developer <a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group (CPG)</a> has completed and settled $450 million worth of apartments at Monarch Residences in Toowong, marking one of Brisbane’s most significant and prestigious riverfront residential completions in recent years.

The final apartment at Monarch sold at auction on the 30th May for $4.1m.&nbsp;

The milestone has been marked at a ribbon-cutting ceremony at <a href="https://www.apartments.com.au/buildings/monarch-residences-toowong-600-coronation-drive-toowong-qld-4066">Monarch Residences</a>, with Cr Penny Wolff highlighting the importance of completing major residential projects to boost the city’s much-needed housing supply.

The 224 apartments, delivered across two 15-level towers, are now officially in the hands of owners, including Brisbane downsizers, families and professionals who have traded traditional houses for apartment living. The completion underscores sustained demand for absolute riverfront living in Brisbane’s inner west.

<img alt="$450M Monarch Residences sells out as Brisbane riverfront demand surges" data-entity-type="file" data-entity-uuid="56ae05e9-092f-41f0-98a1-a10984fdd171" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ROBNN_MONARCHLAUNCHEVENT-131.jpg?VersionId=p76J6weGZqseNrE6aOAjmAHUah.y65Gd" />

Monarch Residences was planned and delivered over four years on a 1.2-hectare parcel with more than 130 metres of direct frontage to the Brisbane River, occupying one of the last remaining true riverfront sites of its scale and orientation within close proximity to the CBD. The site has been transformed from an underutilised, derelict block of land, into a thriving residential precinct with Middenbury House at its centre.&nbsp;

Consolidated Properties Group CEO and Chairman Don O’Rorke says the project’s completion represents the culmination of years of careful planning, design collaboration, market conviction and outstanding team delivery.

“We announced Monarch Residences in late 2021 and it’s been one of the most strongly received residential projects in our 45-year history,” Mr O’Rorke said.

"We are incredibly grateful to the outstanding team who helped bring Monarch Residences to life. A special thank you to Hutchinson Builders and their hardworking labour force for delivering a development of exceptional quality that our residents will be proud to call home for many years to come.

“Brisbane City Council and Titles Queensland also played a huge role in getting residents into their homes early through the pilot programs they ran to speed up the approval processes. They understand the challenges of the housing industry and are doing something about it.”&nbsp;

[smartcode_project:default project_id=113455 project_image_fid=211466]

Consolidated Properties Group Head of Residential, James MacGinley said Monarch Residences showed what could be achieved when private industry and government worked together to deliver new housing for Brisbane.

“Monarch Residences has delivered more than 200 new apartments in Brisbane’s inner-west at a time when additional housing supply is critically important,” MacGinley said.

“It’s fantastic to see residents now moving into this landmark riverfront development, which reflects the strength of collaboration between Council and the project team throughout delivery.

“All government agencies played a significant hand in achieving a fast-tracked outcome for Monarch Residences with Brisbane City Council, Urban Utilities, Energex and Titles Queensland assisted to remove hurdles to achieve settlements.”

[smartcode_project:default project_id=113455 project_image_fid=302326]

With Monarch Residences now complete, CPG has launched River Living, a bespoke on-site property management service designed to enhance the resident experience. The service will support all future CPG residential projects, including the recently announced <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> in Yeerongpilly and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a> in Newstead.

The completion also marks the opening of a prized leasing opportunity at the heritage-listed Middenbury House, built in 1865 and which has been carefully restored and integrated into the broader masterplan.&nbsp;

CPG said the adaptive reuse of the landmark riverfront residence presents an opportunity to introduce a complementary boutique tenancy that respects the site’s historic significance while activating the riverfront frontage.

[smartcode_project:default project_id=113455 project_image_fid=211495]

Colliers Director of Residential Andrew Scriven said the move-in phase highlights continued demand for completed premium riverfront apartments in Brisbane.

“Residents are now experiencing firsthand the scale, craftsmanship and irreplaceable riverfront position that Monarch offers,” Scriven said.

“Opportunities to secure a brand-new, completed residence on Brisbane’s absolute riverfront are exceptionally rare. Combined with the proven track record of Consolidated Properties Group and Hutchinson Builders, combined with a design vision brought to life by some of Australia’s leading architects and designers, Monarch represents a unique opportunity to purchase a home of enduring quality and prestige.”

Monarch Residences was designed in collaboration with Melbourne-based architect Wardle Studio, alongside leading national practice Cottee Parker, with construction delivered by Hutchinson Builders.

[smartcode_project_cta:default project_id=113455]

Consolidated Properties Group sells out Monarch Residences as Brisbane riverfront demand surges

An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Jonathan Chancellor

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