<html><body><div class="cq-article-content-paras section">
Former Woolworths chief executive Paul Simons has spent $6.5 million on the 3159-hectare sheep and cattle property, Glencoe, east of Young on the NSW Southern Tablelands.
Glencoe, which has the capacity to run 18,500 sheep, sold through Landmark Harcourts Capital's Colin Medway for the Coles family.
Paul Simons told the Australian Financial Review he expects he will run about 12,000 sheep at the Boorowa property.
There are two homesteads, Glenalban and Currawidgee.  
Paul Simons already owns 1000-hectare property Euralie at Yass where he had breed superfine wool since the early 1980s.
</div></body></html>

jchancellor-FAypfDUnLy

Paul Simons buys $6.5 million Young farm, Glencoe

<html><body>
Estate agent John McGrath says auction is "by far the very best way of flushing out the highest price the market is willing to pay for your home, especially during booms."
He suggested people are far more excited and motivated and prepared to pay a premium for the home they want.
"In a booming market, it’s not surprising to see a spike in the number of homes offered for sale via auction in Sydney," he noted.
"I think it’s going to be a fantastic few months in Sydney real estate. 
"The best part about this year’s Spring is not just the expectation that vendors will achieve good prices, but also the expectation that buyers will finally have a decent amount of stock to choose from in suburbs where supply has been especially tight throughout winter," he wrote on his Switzer blog.
He noted the first three weekends of Spring will be an interesting test in terms of listing numbers, sale prices and clearance rates.
"Public school holidays in NSW begin on September 19 so we might see a short interval in new listings coming to market over that period as family home vendors wait until the first week of Term 4 to launch their properties on the market. 
"From this point, the Spring market will move forward all the way to mid-December. 
"People need to realise that Sydney’s boom will inevitably end and price growth will moderate.
"When this will happen? We don’t yet know but I wouldn’t be surprised if by this time next year, things might have settled down considerably.
"I continue to hold the view that a pause would be healthy for a sustainable market."
</body></html>

John McGrath says Sydney's property boom will inevitably end

<html><body>
Burwood's suburb record was smashed when an eight bedroom home on 3687 sq m block at 4 Woodside Avenue sold for $6.5 million.
The property had been passed in on a <a href="/expert-insights/buying/9-million-vendor-bid-for-wellings-burwood-stuns-auction-crowd">vendor bid of $9 million in August last year</a>.
Agent Romani Iskander of Raine and Horne Burwood secured the sale to local Amy Shen who had been looking for a family home for a fortnight, before she, her husband and their three little boys discovered the pink palace, which was knocked down to them by auctioneer Tom Panos.
Wellings, one of the oldest estates in Sydney's inner west, had been listed by artisans Frank and Marcellina Civardi, of Civardi Furniture.
They had secured the 3,679 square-metre Burwood estate in 1990 for $900,000 when it was unliveable.
Heritage architect Lester Tropman helped restore the gothic-style villa which dates back to 1813.
It was first officially recorded in the 1830s as owned by London shipowner William Richards and extended over the year starting from 1860.
The Burwood median house price sits at a record $1.75 million, <a href="/news">according to CoreLogic RP Data</a>.
<div>
Burwood's record has been regularly revised sitting for a few months at $4.75 million on the Appian Way, having been $4.46 million when Ivanhoe, at 16 Eurella Street sold late last year.
</div>
Wellings is located at 4 Woodside Avenue East on 3,679 square metres, with not only the main residence but also The Gatehouse.
The three-bedroom gatehouse is one of the first pre-fabricated homes in Australia.
The gatehouse was made in Hamburg, then exhibited in Paris in 1854 before it was imported for the French Consul General's residence in Hunters Hill, Passy.
It was moved to Wellings in 1967 by former owner Dr Lindsay Grant and his wife, Adeline (nee Agnew).
The estate featured in the 2005 movie, Son of Mask.
</body></html>

Burwood's new record residential sale

<html><body>
Tukurua, the iconic Cottesloe mansion is being bought for $16 million by the billionaire Andrew “Twiggy” Forrest.
But the seller of the 21-room beachfront home, Ted Smith appears to be having seller's remorse telling the local paper he had agreed to sell his home for $9 million below valuation to the West Australian mining magnate, he said in a statement to the The Sunday Times.
Tukurua, a 21-room mansion on 5000sq m of prime land on Rosendo Street, was built in 1896 as the summer residence of WA’s first attorney-general, Sir Septimus Burt.
Mr Smith spent $5 million of his own money restoring the building after he inherited it from his long-time friend and landlord Dorothea Cass when she died in 1994. The 82 year old Ted Smith had lived in a small cottage on the property since 1973.
<a href="/news/chinese-inspect-tukurua-the-iconic-50-million-cottesloe-trophy-mansion">Tukurua had $50 million hopes</a> when it was placed on the market for the first time in more than 100 years in July last year.
The Australian reported on the weekend Andrew Forrest offered to pay $16 million for the property in March, with a $7 million deposit and the remainder due in August 2018.
The 1890s Cottesloe gold boom summer beach mansion official revised $25 million plus hopes earlier this year. According to CoreLogic RP Data, the median house price for <a href="/developments/cottesloe-wa-6011">Cottesloe</a> was $1.82m in August.
</body></html>

Andrew "Twiggy" Forrest buying Cottesloe's historic Tukurua

<html><body>
Suzi Taylor, who gives her occupation as LJ Hooker estate agent, will be one of the competitors on the season of The Block set to air this weekend on Channel 9.
She's there along with other contestants including an electrician and an interior designer, on the 11th season of the Nine Network series.
This series's apartment block is octagonal with each level transformed into a 225-square metre apartment with 360-degree views.
Each South Yarra apartment will contain three-bedrooms, four-bathrooms and an expansive outdoor terrace close to busy Punt Road where eventual widening fears loomed large this month.
The contestants: (ages, states and team moniker):
Suzi, 44, and Vonni, 39, from the Gold Coast. The Single Mums.
Dean, 30, and Shay, 29, from Newcastle. The Go-Getters.
Whitney, 29, and Andrew, 29, from Melbourne. The Sweethearts.
Kingi, 31, and Caro, 31, from Townsville. The Larrikins
Luke, 29, and Ebony, 24, from Perth. The 2nd Chance Siblings.
<img src="/images/2015/08/24/700_suzi_banner.jpg" alt="">
Suellen Taylor, known as Suzi on the show, has her LinkedIn profile showing she's been at LJ Hooker Main Beach, a residential sales executive since joining in December last year. 
Though with time out for the shooting of the show earlier this year, her website listings on the Gold Coast property market have been sparse.
Before entering the real estate game, she was involved in the entertainment industry as a musician and professional actor. She was the 1991 Penthouse Pet of the Year.
<img class="ecxscaledImageFitWidth img" src="https://scontent-iad3-1.xx.fbcdn.net/hphotos-xfp1/v/t1.0-9/s480x480/11046736_1405624649744065_8034415435803775294_n.jpg?oh=e19f4480abbde3e821a91c3d63d0bd0c&amp;oe=565168EE" alt="Suzi Taylor LJ Hooker's photo." width="470" height="357">  
<div class="ecx_6lz ecx_6mb ecxellipsis">
Her facebook account has photos with her and Gold Coast real estate veteran Max Christmas (above).  
</div>
<div class="ecx_6lz ecx_6mb ecxellipsis">
<div class="ecx_6lz ecx_6mb ecxellipsis">
Her property listings include a unit on Main Beach Parade that was ultimately sold for $1,350,000 by Joanna Bell-Booth through Ray White Mermaid Beach in February 2015.
Her highest priced listing appears to be the iconic 432 Esplanade, Palm Beach mansion, having sold for $2.5 million in March this year.
Suzi confirmed to Property Observer that she has taken a hiatus from real estate, given her 90 day stint on The Block.
</div>
</div>
<div class="ecx_6lz ecx_6mb ecxellipsis">Main picture courtesy of <a href="https://www.9jumpin.com.au/show/theblock/blockheads/bios/suzi-and-vonni/" target="_blank">9jumpin</a>.</div>
<div class="ecx_4bl7 ecx_4mb8">
<div id="ecxPagePostsPagelet_1399119857061211" data-referrer="PagePostsPagelet_1399119857061211">
<div class="ecx_5ay5">
<div id="ecxPagePostsSectionPagelet-1399119857061211-0" data-referrer="PagePostsSectionPagelet-1399119857061211-0">
<div class="ecx_1k4h ecx_5ay5">
<div class="ecx_5sem">
<div id="ecxu_0_z" class="ecx_4-u2 ecxmbm ecx_5jmm ecx_5pat ecx_5v3q ecx_4-u8" data-ft='{"fbfeed_location":36}' data-time="1424084963">
<div class="ecx_3ccb" data-gt='{"type":"click2canvas","fbsource":703,"ref":"nf_generic"}'> </div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

Meet Suzi Taylor, Gold Coast estate agent on The Block Octagonal 2015

<html><body>
Australian Government should formulate a national housing strategy that sets clear directions for Australia’s housing sector, is the recommendation of the National Seniors Australia.
In the submission to the House of Representatives Standing Committee on Economics, National Seniors also recommended the examination of all types of housing and issues associated with access, adequacy, affordability and security by utilising findings from the Inquiry on Homeownership, the Inquiry on Affordable Housing, the Federation Review and the Tax Review. 
"Outright homeownership has been falling for people aged 55 and over (39.7% in 2001 to 32.1% in 2011)meaning that a greater number of older Australians are either paying off mortgages during retirement or moving from homeowner-occupier into alternative forms of accommodation.
"Other reasons for a fall in homeownership amongst older Australians include loss of paid employment and significant life events such as divorce or losing a partner. 
"Research suggests that insecurity within the private rental market amongst older Australians has led to a shift to public housing.The Australian Housing and Urban Research Institute (AHURI) has found that older public housing households are expected to increase from 87,940 in 2001 to 109,560 in 2016, an increase of 24%.
"In the 85+ age group these are expected to increase by 155%. 
"Furthermore, by 2026 the number of lower-income people aged 65 and over who are living in rental households (as homeownership falls) are projected to far exceed the supply capacity of the social housing system. 
"Census data from 2006 to 2011 shows a steady increase in the number of renters aged 55 and over in the private market."
National Seniors Australia recommends that the Australian Government, in collaboration with state and territory governments, examine tenancy regulations, rights and advice services.
The aim would be to deliver security and support for long-term renters; recognise that renting in the private market is a significant form of tenure for many Australians; and increase the attractiveness of this form of tenure for Australia’s long term housing needs. 
"Older renters experience significant anxiety linked to their security of rental tenure and many experience housing stress.Such housing stress is magnified due to rent increasing well above CPI and the insufficiency of Commonwealth Rent Assistance.
"Renters face a number of disadvantages including forced moves which greatly contribute to instability. The frequency of moving between owners and renters in Australia is the highest in the OECD.
"The lack of long term (beyond 6-12 months) leases available to Australian renters increases instability.  
"Limiting the ability of property investors to terminate leases for ‘any reason with notice’ to a list of prescribed criteria, allowing pet ownership and minor alterations to the rental property would greatly enhance the lifestyle available to renters. 
"Improving the stability and security of tenure for a renter would provide them with the ability to receive similar non-financial benefits available to home owners.
"Creating greater equity in the Australian housing market would reduce the desire to become a homeowner, subsequently reducing the demand which is currently driving high housing prices in the market. 
"National Seniors recommends that the government investigate policies that will address barriers to downsizing (or 'rightsizing') for older Australians, for example, a national ‘rightsizing’ program. 
"Older Australians face barriers to relocating including: the inability to find value for money, stamp duty, moving costs, lack of suitable housing in familiar surroundings with easy access to required amenities, and impacts of selling the home on Age Pension eligibility. 
"These barriers also decrease capacity for older Australians to access equity in their home to assist with living costs during retirement.  
"Proceeds from the sale of the family home continue to remain exempt from the Age Pension assets test for up to 12 months, as long as the funds are intended to buy another home.  
"However, any interest earned on sale proceeds is counted under the income test, and, if a cheaper home is purchased, any surplus cash is included in the Age Pension asset test.  
"Concerns regarding the proceeds of the sale of the home being subject to the Age Pension assets test discourage 20% of all seniors, and 30% of Age Pensioners from selling the home.
"In 2013 the then Labor government announced the Supporting Senior Australians—housing help for seniors pilot,to address some of the barriers to downsizing that older Australians face. 
"The pilot exempted a portion of sale proceeds from the Age Pension asset test. However, it also applied restrictive conditions, including the requirement that a homeowner had to own their home for more than 25 years and quarantining the proceeds for ten years. 
"As an alternative National Seniors has called for the implementation of a ‘Rightsizing’ program that exempts up to $150,000 in proceeds from the sale of the home from the Age Pension income or asset test.  
"Excess sale funds could then go towards critical services, such as health costs, significantly reducing the burden on government-supported health systems. 
"The recent changes to the Age Pension asset test (legislated in June 2015) will provide an even greater deterrent for seniors to right-size. Reconsideration should be given to a program that allows seniors to right-size without the threat of future reductions to their Age Pension payments."
National Seniors recommends that the states and territories provide concessional stamp duty to older Australians to encourage downsizing and maintenance of homeowner-occupier tenure.  
"A reduction in stamp duty would encourage older people to right-size their homes and improve quality of life, while also providing many younger Australians access to suitable family homes which would not otherwise be available."
</body></html>

Stamp duty reduction may drive senior property re-investment

<html><body><div class="page" title="Page 3">
<div class="section">
<div class="layoutArea">
<div class="column">
GUEST OBSERVER
It’s 8am on a 10 degree winter morning and all you can hear is the heavy rainfall outside.
You cannot think of anything better than to forgo your house hunting plans and stay in bed for the day; after all, it’s the weekend. But just yesterday you were sunbathing in the park, planning your list of inspections for this very day and daydreaming of what your new home would be like. Now you decide that you will do this next week, when you can view properties in more comfortable conditions. 
It's amazing how the weather can alter your mood and even what you decide to do for the day. What better way to welcome the month of Spring than with a report about weather! Temperature plays a key role in this report. We are all looking forward to the next few months as mornings become brighter earlier and the days hit temperatures over 20 degrees celcius again. 
When it comes to selling and buying houses, Melbourne's favourite method is still the auction. On a sunny Saturday morning, many houses being auctioned can draw quite the crowd. In this report, Secret Agent looks at the impact of the weather, in particular temperature, on auction results. Does temperature have an impact on price or does a cold day merely weed out the number of onlookers? 
Weather and Mood 
Weather can affect our mood in various ways and, through this, influence our behaviour and decisions. Rainy days can make us feel sad and dull. Sunlight can diminish tiredness and boost positive moods. Simply thinking about the warm Spring days ahead makes Secret Agent happy. 
<div class="page" title="Page 3">
<div class="section">
<div class="layoutArea">
<div class="column">
An investigation into the relationship between morning sunshine and market index stock returns each day at 26 stock exchanges internationally found that there is a strong positive correlation. (Hershleifer and Shumway, 2001) Other weather conditions such as rain or snow were not found to have any relationship with returns. 
Sunny weather is better for forging new relationships too. A psychologist in France performed an experiment in which he approached women on sunny and cloudy days and asked them for their phone number. The women were more receptive to his flirtatious behaviour on sunny days with 22% giving him their number, as opposed to cloudy days where only 13% were happy to. (Gueguen, 2013) 
Temperature can also impact our behaviour independent of sunshine or rain. One study looking at the relationship between weather and helping behaviour found that a moderate temperature of about 20 degrees celsius is said to be ideal for most people. (Cunningham, 1979) Once you deviate from this happy medium, people felt a greater degree of discomfort and were less likely to help. 
Heat is said to bring out the worst in people. Rates of aggression and violence are higher on hotter days of the year. A Dutch experiment involved placing police officers in a simulated burglary in hot and cold conditions. They found that police officers were more likely to draw their weapons and shoot the suspect in the hot environment than in a colder one. On a baseball field, pitchers are more likely to hit batters on a hot day. (Anderson, 2001) A study analysing the content of news reports filed out of Beijing during the Olympics found that the Air Pollution Index and daily temperatures had an impact on the negativity of the reports, with more negative words used as temperature and air pollution rose. (Zhong and Zhou, 2012) 
This prompted us to think that temperature may also have an effect on auction results that is independent of seasonal factors. Secret Agent decided to test this out to determine if daily temperature influences property prices in an auction environment. 
</div>
</div>
</div>
</div>
<div class="page" title="Page 4">
<div class="section">
<div class="layoutArea">
<div class="column">
The study collected the auction sale results of all townhouses and houses sold in inner Melbourne in the past year from August 2014 up until August 2015. For this purpose, inner Melbourne was defined by the suburbs listed in the Quarterly Turnover section of this report (page 10). 
There were 1740 houses sold with disclosed sale prices and these were incorporated into a comparative analysis with average daily and monthly temperatures. These results were then checked using hedonic regression techniques to isolate the temperature variable and determine its true effect on a property sale price. This was performed on properties where there were records of the land area, number of bedrooms and number of bathrooms. The model included 1032 properties and accounted for the size of the house (land area and number of bedrooms/bathrooms), inflation, geographical location (South, North, East or West as well as distance to the nearest beach or CBD) and seasonality (Summer, Autumn, Winter, Spring sale date). 
Temperature and Sale Price 
The analysis aimed to find a correlation between the average daily and monthly temperatures with auction sale prices. Figure 1 shows the comparison between the average sale price with the highest temperature reached on that day. Here there seems to be no real connection. While temperatures increase from August to February and then decline again throughout 2015, the average sale price on auction weekends moves more sporadically, with the overall trend a slight increase in average prices over time. 
<a href="/images/2015/09/01/Screen%20Shot%202015-09-01%20at%205.25.56%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/01/Screen%20Shot%202015-09-01%20at%205.25.56%20PM.png" alt="">
</div>
</div>
</div>
</div>
<div class="page" title="Page 4">
<div class="section">
<div class="layoutArea">
<div class="column">
Note that on some weekends, especially in the January period, there were not enough sales to get an accurate average estimate. Statistically speaking, the correlation coefficient between the daily temperature and sales price found was 0.1. The correlation coefficient tells us how interdependent two variables are and always falls between 1 and -1. A measure of correlation between daily sale price and temperature of 0.1 is considered a very weak, positive correlation. Positive in this case means that, as temperature increases, average sale price increases as well, but it is weak because it is close to 0, at which point there is no relationship. 
 
</div>
</div>
</div>
</div>
<a href="/images/2015/09/01/Screen%20Shot%202015-09-01%20at%205.29.22%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/01/Screen%20Shot%202015-09-01%20at%205.29.22%20PM.png" alt="">
<div class="page" title="Page 4">
<div class="section">
<div class="layoutArea">
<div class="column">
Looking at the monthly averages (Figure 2), a connection between the average temperature and sale price of houses and townhouses starts to emerge: as temperature increases, so does the average sale price. The measure of correlation between monthly sale price and temperature in this case is 0.46. This correlation coefficient is weak, positive. While it is larger than the daily average correlation, implying the monthly data is more strongly interconnected, the number is still closer to 0 than it is to 1, making it a weak correlation.
The results of the hedonic analysis support the above comparisons. Holding all other variables constant (size of house, inflation, geographical location and seasonality), Secret Agent found that the average temperature does not have a statistically significant impact on the average sale price of a house or townhouse at an auction in inner Melbourne.
One of the limitations to our study was the fact that data was only analysed for the past year. Results may have been more profound if more sales were included, however there is some external evidence to support our findings. Other research has found that temperature and weather affect people differently depending on what type of weather they prefer. (Klimstraet al, 2011) This could mean that the effects are balanced out in an auction environment since a number of people with different weather personalities would be present each Saturday. 
Research has also shown that whilst men responded to unexpected weather by changing their plans, women tended to stick to their plans even if they did so disgruntled. In other words, weather may affect mood but this does not necessarily change someone’s behaviour. (Connolly, 2008)
Conclusion
Our results show that there is a small chance that temperature may influence auction sale prices in inner Melbourne. A weak positive correlation was found in our comparative analysis of monthly average temperatures and property prices.
When these results were tested using a hedonic regression model, no statistically significant result was found between temperature and property price. Results could become more significant with a larger sample size.
While you might spend hours trying to choose the right weekend of the year to put your house up for auction, it seems you might not need to worry so much. The eventual sale price will be largely unaffected by temperature. Rain or shine, those who are really interested in buying your home will still show up and place their bids. On the other hand, if you are in the market to buy a house, don’t expect to find a bargain simply because the weather is bad. Other buyers who are just as savvy will also be undeterred by bad weather to find the right home. 
Traditionally, August is a very important month for Melbourne property. It’s the prime season for many vendors to scrutinise results to guide their decision making around a potential sale. With interest rates low and pressure to sell minimal, conditions need to be strong to encourage vendors to throw their hat in the ring and go to market.
Overall, results for prime property passed the test with many precedent-creating sales occurring. However, auction clearances started to trend downwards, perhaps a reflection of the larger volume of stock on offer. 
The big challenge that remains is the uncertain global conditions. The Australian sharemarket recorded its worst month since the financial crisis of 2008, falling in the order of ten percent. The sharemarket is a reminder that assets can drop in value very quickly should valuations become too far stretched from historical levels. Whether equity or property, in today's market conditions one needs to be very careful around valuations, and operate on a margin of safety in case of sudden changes that occur within a chosen asset class. Our concern is that, of recent nose-bleed auction results, some of these properties could be worth far less in a year's time should the Australian economy falter, or the availability of cheap and easy credit starts to become scarce.
The Australian Prudential Regulation Authority (APRA) which oversees banks and credit unions has recently enforced tighter lending standards for investors, which is starting to have a flow-on impact on the market. We are noticing that investors, who operate with a slight delay from their pre- approval assurances, are starting to down-gear their budgets to accommodate these changes. The Spring market will be challenged with investors winding back their bidding limits. The countering force to this is to be expected with further demand coming from international buyers, especially those from China.
The other worry at the moment is the dwindling strength of the Chinese economy. The sharemarket has collapsed with a sharp correction, resulting in large losses for many investors. The weakening Chinese sharemarket conditions may actually continue to drive Melbourne and Sydney markets higher as nervous investors from China seek a safer place to park funds.
In terms of sale performance for the month, houses in the inner suburbs were the best performing according to Secret Agent's research, with houses in Brunswick, Brunswick East and Northcote on the boom list. In August 2015, houses and townhouse prices in the inner North were 20% higher in real terms than in August 2014. This is a remarkable change within a 12 month period.
However, the rate of price growth is slowing, which suggests that our market is peaking. Townhouses have started to show a general decline in price with exceptions within certain pockets of Melbourne. Apartments are faltering, with Brunswick, Kensington, Flemington, North Melbourne, Port Melbourne, Prahran, Southbank and Travancore in recession, with two consecutive quarters of falling values.
While we are still witnessing record prices paid, our data suggests that conditions are slowing and its effects may be felt more deeply in the later half of spring. 
<a href="/images/2015/09/04/Screen%20Shot%202015-09-04%20at%2010.59.44%20AM.png" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
<div class="page" title="Page 9">
<div class="section">
<div class="layoutArea">
<div class="column">
Quarterly Scorecard JUN, JUL &amp; AUG 2015 
</div>
</div>
</div>
</div>
<img src="/images/2015/09/04/Screen%20Shot%202015-09-04%20at%2010.59.44%20AM.png" alt="">
 
<div class="page" title="Page 17">
<div class="section">
<div class="layoutArea">
<div class="column">
The Secret Agent report is authored by Jodie Walker, Richard Rossman and Ken Premtic. They can be contacted <a href="https://secretagent.com.au" target="_blank">here</a>. 
</div>
</div>
</div>
</div>
 
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

The impact of spring weather on Melbourne auctions: Secret Agent

<html><body>
GUEST OBSERVER
Auctioneer Damien Cooley has reported the highest winter statistics in the history of Cooley Auctions, with August showing a 26% increase in residential auctions booked year on year.
"Volume was consistently on the rise as we got closer to spring and there were a total of 552 residential auctions booked for last month, which represented a 26% increase year on year," he said.
"Sales remained strong with a clearance rate of 77% and the average number of bids and bidders recorded in the Cooley Index proves a very competitive market. We saw numerous suburb records broke across Sydney, which continues to drive the median house price over the $1 million mark.
"We're very excited about what the spring market has to offer with auction bookings flooding in, especially for the first Super Saturday of the spring selling season on the 26th of September."
<a href="/images/2015/09/04/Screen%20Shot%202015-09-04%20at%209.16.42%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/04/Screen%20Shot%202015-09-04%20at%209.16.42%20AM.png" alt="" width="803" height="317">
Damien Cooley is director of Cooley Auctions and can be contacted <a href="https://cooleyauctions.com.au" target="_blank">here</a>.
</body></html>

Historic winter drives a positive start for spring: Damien Cooley

<html><body>
Aspiring NFL San Francisco 49ers star Jarryd Hayne has sold his first Sydney home purchase as he chases his American dream.
The former Parramatta fullback Hayne, who shocked the rugby league world with his decision to quit the NRL late last year, secured $995,000 in the recent sale.
It was 2007 when the then NSW State of Origin initiate bought the $527,500 St Peters terrace from recruitment industry operative Rob James. 
At the time of his purchase, the 19-year-old winger was the second youngest footballer to wear the NSW jumper. 
Set on 122 square metres in the inner west suburb, <a href="https://www.realestate.com.au/property-terrace-nsw-st+peters-119768175" target="_blank">the house has three bedrooms and one bathroom</a>.  
House prices in St Peters had a $475,000 median that year, property researchers CoreLogic RP Data noted, with it now sitting at say.
Situated minutes to Sydenham and St Peter's Station, the two storey 1900 Sutherland Street terrace was marketed as in need of some TLC.
"A must to inspect as this Must Be Sold!" was advised by the Ray White listing agent Anthony Roumanous.
Hayne, who played 176 games for Parramatta, has keenly, but quietly pursued a property portfolio. He purchased an investment terrace in Darlinghurst costing $1.5 million and spent $1.1 million in Paddington, both in 2013. There was also an earlier Umina home purchase for his mother.
This month he established a company, JH38 Holdings, which incorporates the number of his now-famous 38 jersey for the San Francisco 49ers, moving to trademark his own name for a wide range of consumer goods — including clothing, sporting goods, toys, games, luggage, umbrellas and wallets.
Hayne, after watching NFL games live in 2013, became convinced he could make it as a punt returner.
"When I watched the game so close and I saw the return backs, that is what really pushed me to say, hang on a minute, some of these guys can't even make five or 10 yards. I am sure I can make more than that," Hayne told Triple M before he departed late last year.
"I think anyone who has been over to America knows what America is like; they think there is no one who can be greater than them. That is part of the challenge as well. For an Aussie to come from Down Under, people are going to question my ability, my talent and my strength, but I have been questioning it for 12 months. I have already had that argument with myself."
This article was first published in the Sunday Telegraph.
</body></html>

Jarryd Hayne's St Peters, Sydney terrace sale

<html><body>
GUEST OBSERVER
In all the talk about the effect that APRA’s restrictions may have on the property market, there are few things that strike me.
Firstly 
There is a very real danger in applying a national remedy to a problem that is not national.
Everything is not same-same across Australia – there is no ‘boom’ evident in most places outside Sydney and Melbourne – and even within those markets, it’s not in all suburbs
There should be more engagement with financial and real estate industries before decisions are reached. 
Look what happened in New Zealand when the Reserve Bank there introduced lending restrictions on people buying houses in Auckland. It didn’t really impact where they want it to but it did cruel the first home buyer market.
Don’t strangle a market when and where you don’t need to. Markets in Brisbane, Adelaide, Perth and Canberra, let alone Australia’s provincial and regional centres, are not in the same ball park as those Sydney and Melbourne markets that many commentators focus on. 
The vast majority of markets don’t need to slow down. Some are already deflated.
In CoreLogic’s September 2015 Housing Market &amp; Economic Update, I see:
-        Sydney where home values are consistently trending higher, median house price is $900,000 and median apartment price is $670,000.
-        Melbourne having the strongest quarter of any capital city, median house price is $620,000 and median apartment price is $475,000.
-        Brisbane with moderate capital growth, median house price is $482,400 and median apartment price is $382,200.
-        Adelaide with a slowdown in annual rate of value growth, median house price is $430,000 and median apartment price is $350,000.
-        Perth with declining home values, median house price is $520,000 and median apartment price is $415,500.
-        Hobart with values lower than five years ago though on the rise, median house price is $900,000 and median apartment price is $670,000.
-        Darwin with a sharp decline in home values, median house price is $580,000 and median apartment price is $450,000.
-        And Canberra with falling values in a year-on-year, median house price is $587,800 and median apartment price is $415,000.
Look at the market differences – the different stages they are in their property cycles - and these are just the capital cities!
APRA’s mid-August data demonstrated strong and accelerating growth in investor and interest-only lending but its latest banking statistics released at the end of the month showed some suggestion that investment lending growth was cooling. 
It’s too early to say whether this is the recent clampdown beginning to finally take effect, nor does it do anything to convince me that that APRA’s directives, with their national implications,
Property market activity – anywhere - is underpinned by supply and demand. This is effectively what moves markets through their property cycles.
Undoubtedly there will have to be a shift, with some markets moving past their peak. Others will be on the upswing. That’s the way things work. The danger is in taking a statement like ‘Property prices to fall’ and thinking it applies to every market, every micro-market, in Australia.
Secondly
It is not unusual to see stock market corrections. 
What has occurred last month was a well-timed caution that things are not set in concrete
Will there be a shift in where the investor puts their money? To consider are investing in a nervous stock market, restructuring superannuation investments, putting their cash in banks or buying property.
While the stock market investor will be looking warily around to see what and when the correction is going to be and the cash investor today is not having a good time of it with very low interest rates, the real estate investor needs to keep in mind that in order to gain you need to be able to sit.
If you can invest in property, be in it for the long haul.
Property market growth is something we are likely to see in most parts of Australia.
The volatility in the stock market right now is making property a much safer investment strategy.
There will be no major collapse in the next few years, especially while the interest rates are low, employment prospects are good, there is a backlog in construction of new property and our dollar is attracting foreign buyers
Thirdly
Banks don’t make money by keeping money in the bank, they make money by loaning money to investors. 
Banks are in the business of making a profit. When something threatens the profit margin, one of the things they can do is to pass on their losses to consumers.
With the APRA measures, the big lenders’ exposure – their need to hold capital – has almost doubled. Because they have to hold more, they can’t make as much money; they need more money so they can continue to lend. What are the options? They can increase the cost to the investor in order to meet their targets; they can raise capital from their investors by issuing additional shares, as the CBA is doing; or they can pull out of the investor market altogether, like we saw AMP do.
The heat in predominantly inner Sydney and Melbourne markets led to APRA’s involvement in limiting investor lending, with the flow-on impacts on banks and the strategies they subsequently employ.
There is still no guarantee that is will impact on Sydney and Melbourne market heat but it may mean there is less available for lending into other markets. So it is even possible that we may see a widening of the gap between Sydney/Melbourne and the rest of the Australian markets.
Fourthly
For as diverse the property markets are across Australia, so are the property consumers. How might different groups of people be affected?
There are some areas where first-time buyers can’t afford to buy a property where they want or need to live, so they become investors in order to enter the property market. These people may be caught out, or caught short, by having to come up with a greater deposit.
Lending restrictions will have little effect on the massive influences of the Asian market because these buyers usually don’t fall into the ‘lower’ deposit category. 
APRA’s rulings may produce opportunities for some. 
Cashed up property owners who can draw on good equity may buy up investment property. APRA’s June quarter figures suggested an increase in the number of borrowers using 20 to 40% deposits, accounting for half the new housing loans for that quarter. 
If we do see a slow-down in the rate of property price growth in some Sydney and Melbourne suburbs, financially-able buyers may make a move upwards and free up more affordable property for first home buyers. 
With the pricing differential between the heated markets in Sydney and Melbourne, the traditional swell of migratory property buyers may be even more apparent.
The south to north trend takes property buyers to markets such as Northern New South Wales, Gold and Sunshine Coasts, and up to North Queensland where property prices are more moderate, yield is good capital growth predictions are healthy, which frees up investor capital to put into superannuation or indeed more property.
The rules haven’t changed though when it comes to buying well-located property close to transport, good job availability and having a growing population. And buying for investment potential rather than because you would want to live in yourself.
Where under supply is a recognizable problem, perhaps giving more support to developers and builders would better control pricing than would curbing investor borrowing.
Michael Davoren is managing director, RE/MAX Australia and RE/MAX New Zealand and can be contacted <a href="https://www.remax.com.au/Michael-Davoren" target="_blank">here</a>.
</body></html>

Recent APRA tightening may produce opportunities for some: Michael Davoren

The Gold Coast economy has grown by 25 per cent since 2020/21 to surpass $55 billion, but perhaps the more significant story is what sits behind the headline number.

For decades, the Gold Coast has been viewed through the lens of tourism, lifestyle and population growth. The latest State of the City Report suggests that perception is increasingly out of step with reality.

Released by Invest Gold Coast, the report ranks the Gold Coast as Australia's largest non-capital city economy and, perhaps more notably, second nationally behind Sydney for Economic Complexity, a measure that assesses the diversity and sophistication of an economy.

It's a result that places the Gold Coast ahead of Melbourne, Brisbane, Perth and Adelaide, highlighting the extent to which the city's economic base has broadened beyond its traditional industries.

Today, the Gold Coast supports more than 350,000 jobs, is home to over 83,000 businesses and generates $19 billion in annual exports. Manufacturing now accounts for 62 per cent of international export growth, while sectors including health, education, advanced manufacturing, technology and professional services are becoming increasingly important contributors to the local economy.

[smartcode_project:default project_id=150017 project_image_fid=372547]

Gold Coast Mayor Tom Tate said the report confirmed the city's evolution into one of Australia's most significant economies.

"The Gold Coast economy continues to grow at an incredible pace. This is no surprise to those of us who have watched the evolution up close," Mayor Tate said.

"As one of the most entrepreneurial, investment driven and opportunity focused economies in the country our ambition has been realised and possibilities are endless.

"The Gold Coast has built a reputation as the city that says yes. We say yes to investment, yes to opportunity and yes to people who want to build something.

"It's this mindset helping us drive major growth across health, advanced manufacturing, screen production, marine, technology and the knowledge economy."

[smartcode_project:default project_id=149670 project_image_fid=360975]

While population growth has been one of the defining stories of the past decade, the report points to a broader economic transformation taking place.

The city's knowledge economy now contributes $7.9 billion annually and supports around 31,000 jobs, while the health and wellbeing sector contributes $5.2 billion and employs more than 42,000 people. Together, the six priority sectors identified in the report account for almost $24 billion in economic output and more than 145,000 jobs.

One of the strongest examples is the Gold Coast Health and Knowledge Precinct at Southport. The 200-hectare precinct now contains more than $5 billion worth of health, education, research and innovation infrastructure and supports over 16,000 jobs.

The report also highlights the growing role of advanced manufacturing, particularly in aerospace, defence and modular construction.

Gold Coast-based Gilmour Space Technologies recently became the first Australian commercial company to attempt an orbital launch, while companies including Modscape and ModnPods are helping establish the Yatala-Stapylton corridor as one of Australia's fastest-growing advanced manufacturing hubs.

The city's entrepreneurial culture is also translating into business growth.

Since 2019/20, the number of businesses operating on the Gold Coast has increased by 22 per cent, while firms employing more than 200 people have grown by 80 per cent. The report suggests the next challenge is converting more local start-ups and medium-sized businesses into nationally significant companies.

Development activity remains another key indicator of confidence.

There are currently more than $23 billion worth of major projects underway across the Gold Coast, supported by a record 75 active cranes, a figure that now exceeds Brisbane and represents a 150 per cent increase since 2016.

[smartcode_project:default project_id=112024 project_image_fid=343235]

Importantly, the report notes the next phase of investment will need to extend beyond residential development.

While 93 per cent of crane activity is currently tied to housing, Invest Gold Coast argues future investment will increasingly need to focus on cultural, civic, infrastructure and industry-enabling projects that strengthen the city's long-term economic resilience.

Invest Gold Coast Chair Will Hodgman said the city was now benefiting from years of economic diversification.

"What is happening on the Gold Coast is the result of the city's economic base broadening, fuelled by industries with long-term, high-growth potential," Mr Hodgman said.

"This is no longer a secondary Australian economy, the Gold Coast is becoming a globally connected city with deeper capability across health, knowledge and creative industries, advanced manufacturing, technology and exports."

[smartcode_project:default project_id=108274 project_image_fid=365786]

Looking ahead, the Gold Coast's population is projected to exceed one million residents by 2046.

For a city that was once largely defined by tourism and lifestyle, the latest figures suggest the Gold Coast is becoming something more significant, one of Australia's most diverse and economically sophisticated urban economies, and increasingly one that national and international investors can no longer afford to overlook.

Joel Robinson

75 cranes, $23 billion pipeline and a $55 billion economy: Inside the Gold Coast economic boom

Ron Bakir's Homecorp has sold more than 75 per cent of the apartments in its wellness-driven Florence Residences in Surfers Paradise following its first weekend release.

The <a href="https://www.apartments.com.au/new-apartments/florence-residences-24-monte-carlo-avenue-surfers-paradise-qld-4217">26-storey project on Monte Carlo Avenue</a>, which commenced construction earlier this year, has seen a flurry of buyers secure their slice of the Gold Coast's latest wellbeing-focused offering in one of the nation's most competitive property markets.

Since the pandemic, the Gold Coast's population has grown by more than 11 per cent, a rate approximately four times faster than Sydney's, driven largely by lifestyle changes and interstate migration. While buyer activity has moderated in some markets nationally, demand for newly built dwellings on the Gold Coast continues to gain momentum as purchasers increasingly prioritise lifestyle, amenity, wellbeing, liveability and long-term investment potential.

&nbsp;

[smartcode_project:default project_id=150414 project_image_fid=372743]

Homecorp CEO Ron Bakir says buyers today are looking for more than just a home.

"What we are seeing is a shift in how people define value in property," Bakir says.

"What attracts residents to new developments is a desire for more than just a residence. They are looking for a place that complements their lifestyle, supports their wellbeing and reflects the way they want to live into the future.

"Lifestyle, longevity, proactive health, wellbeing, connection and a sense of community are increasingly shaping purchasing decisions, particularly on the Gold Coast, where these factors continue to be a major drawcard."

[smartcode_project:default project_id=150414 project_image_fid=372744]

Bakir says Homecorp is responding to this shift through an approach that places greater emphasis on design, amenity and experience working together to create places that feel considered, connected and enduring in value.

Inspired by Eastern European design, Florence Residences will comprise 120 apartments alongside a private residents-only wellness club featuring a resort-style rooftop pool, hot and cold plunge pools, a spa retreat, contemporary gymnasium, and a spacious yoga and Pilates studio.

The development will also feature a residents-only lounge with private dining facilities and a rooftop bar, premium outdoor entertaining areas, a hotel-style lobby lounge, generous bike parking, and pet-friendly amenities including a heated dog wash.

[smartcode_project:default project_id=150414 project_image_fid=372742]

A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.

Florence is one of the latest additions to Homecorp's expanding multi-billion-dollar property portfolio, which also includes plans for a <a href="https://www.apartments.com.au/news/qld/homecorp-lodges-plans-for-260-million-moroccan-bathhouse-inspired-tower-in-budds-beach">$260 million development in Budds Beach</a> tailored to the growing wellness market.

A development application has been lodged for a 27-storey, 156-residence tower at 8–10 Acacia Avenue and 25–27 Oak Avenue, featuring a residents-only Moroccan spa-inspired sanctuary.

Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.

[smartcode_project_cta:default project_id=150414]

Buyers rush to Homecorp's Florence Residences as Gold Coast wellness trend gains momentum

The NSW Government has expanded its $1 billion Pre-sale Finance Guarantee program, broadening access for affordable housing providers and smaller residential developments as it seeks to accelerate housing delivery across the state.

The Minns Government says the program has already helped bring forward more than 600 homes across Sydney and regional NSW since launching in September 2025, with similar models now adopted in South Australia and Western Australia.

The latest changes, announced by Treasurer Daniel Mookhey and Minister for Planning and Public Spaces Paul Scully, are designed to improve access to finance for projects that have planning approval but are struggling to secure funding.

Among the key changes is an expansion of support for community housing providers. The program will now support up to 100 per cent affordable housing projects valued at up to $30 million when delivered by not-for-profit providers, while support for larger affordable housing developments will increase for projects worth up to $80 million.

The government says the changes will help accelerate the delivery of housing for low-income workers, older people, people living with disability, and those at risk of homelessness, while reducing reliance on direct grants or subsidised loans to bridge funding gaps.

The eligibility criteria for smaller residential developments have also been broadened. The previous $5 million minimum project value threshold has been removed and replaced with a requirement that projects deliver at least four homes.

Support has also increased for projects delivering fewer than 20 homes, with the guarantee now able to cover up to 75 per cent of dwellings in a development, capped at $30 million per project.

The changes are expected to particularly benefit smaller-scale and regional developments, which often face greater challenges meeting pre-sale requirements imposed by lenders.

Treasurer Daniel Mookhey said the scheme demonstrates how government can use its balance sheet to stimulate housing supply without relying solely on taxpayer-funded grants.

"The Pre-sale Finance Guarantee shows how this Government is using its balance sheet to reduce risk and unlock private investment, enabling new homes to move from design to construction faster," Mookhey said.

"This landmark reform allows us to deliver homes for working families at a lower cost to taxpayers, while also maintaining strong financial discipline."

Planning Minister Paul Scully said the program had already proven effective in bringing stalled projects to market.

"The Pre-sale Finance Guarantee has already proven it can unlock stalled projects and accelerate housing delivery by giving lenders the confidence they need to back good developments," Scully said.

"These changes will allow more affordable housing and smaller developments to access support so more homes can be built faster where communities need them most."

Housing Minister Rose Jackson said the expansion would help community housing providers overcome financing barriers that often delay projects.

"We know community housing providers are ready to build more homes, too often they're held back by barriers to finance," Jackson said.

"Expanding the Pre-sale Finance Guarantee helps remove those barriers so more affordable homes can get off the ground sooner."

The announcement was welcomed by the Property Council of Australia, which has long advocated for measures aimed at improving project feasibility and access to finance.

Property Council NSW Executive Director Katie Stevenson described the expansion as a practical intervention that addresses one of the most immediate constraints on housing delivery.

"This is exactly the kind of practical intervention we need right now, focused on getting projects out of the ground, not just approved," Stevenson said.

"It builds on a model the Property Council has worked closely with government to develop following calls for such a scheme ahead of last year's NSW Budget, so it's great to see it being expanded."

Stevenson said the reforms would help unlock projects that are ready to proceed but have been delayed by financing challenges. However, she noted that broader feasibility issues remain a significant barrier to increasing housing supply.

"The biggest challenge in NSW housing today is delivery. Too many projects have planning approval but are simply not financially viable to proceed under current settings," she said.

Speaking at the Property Council's NSW Housing Summit, Housing Minister Rose Jackson acknowledged that feasibility and financing pressures continue to constrain housing delivery, while reaffirming the government's commitment to work with industry on solutions.

Stevenson said the government's recognition of those challenges was encouraging ahead of next week's state budget.

"It's positive to see the government clearly recognising that feasibility pressures are now a binding constraint on supply," she said.

"With the Budget just days away, the focus must be on backing delivery, making sure projects stack up, finance can flow, and more homes can move from approval to construction."

The expanded Pre-sale Finance Guarantee forms part of the NSW Government's broader housing agenda, which also includes planning reforms, the NSW Housing Pattern Book, and a series of rezonings intended to increase housing capacity across the state.

NSW expands Pre-sale Finance Guarantee to unlock more affordable and regional housing

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

&nbsp;

[smartcode_project:default project_id=146717 project_image_fid=372212]

Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

[smartcode_project:default project_id=146717 project_image_fid=372227]

Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

[smartcode_project:default project_id=146717 project_image_fid=372225]

While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

[smartcode_project_cta:default project_id=146717]

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

[smartcode_project:default project_id=134323 project_image_fid=6395]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

[smartcode_project:default project_id=134323 project_image_fid=6399]

Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

[smartcode_project:default project_id=134323 project_image_fid=353235]

A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

Jonathan Chancellor

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News