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Last weekend 29 Terry Street, the so-called Surry Hills skinny terrace sold under the hammer for $965,000 to a Chinese investor.
Now neighbouring <a href="https://www.realestate.com.au/property-house-nsw-surry+hills-119927281" target="_blank">31 Terry Street</a> has been listed trying to match or better that result.
It too is a two-storey terrace with a 2.85 metre width, a land size of 38 square metres and an internal size of 48 square metres.
Listing agent, Wiseberry’s David Cradock said next door was a good benchmark.
<img src="https://i1.au.reastatic.net/456x342/064206b001dd0322a8fb230c511e2e8bcd16d25733aea7e1a3870626ccd0824b/main.jpg" alt="31 Terry Street, Surry Hills" title="31 Terry Street, Surry Hills" data-index="0">
The terrace was last sold in 2001 for $299,000. In January 2013, the home had a weekly asking rental price of $460.
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jchancellor-FAypfDUnLy

Skinny Home II - narrow neighbouring Surry Hills terrace to test market

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Despite the portrayal of Mount Druitt on the recent SBS series Struggle Street, agent Leon Buttigieg of The Professionals has secured a $1 million sale.
The four-bedroom split level home at 38 Paull Street was sold on the same day as its first open house last weekend.
<a href="https://www.realestate.com.au/property-house-nsw-mount+druitt-119653463" target="_blank">The home has four levels</a> on its 1012 square metre block.
 “It probably is close to a record if it isn’t a record for a residence. You get sales in excess but they are for development projects,” Mr Hansen told News Ltd.
“The story of this is to not tar everyone with the same Struggle Street brush,” he said.
The median house price in <a href="/news">Mt Druitt is $500,000</a>, according to RP Data, an increase of 19% on the previous year and a five-year increase of 58%. 
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Mt Druitt's $1 million residential snappy sale

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A very striking new project, Cirqua - with eye popping circular windows - has had 12 sales in the past fortnight at Ivanhoe East.
Designed by Simon Knott of BKK Architecture, Cirqua is situated at 206 Lower Heidelberg Road.
<a href="https://www.cirquaivanhoe.com.au/" target="_blank">It comprises 44 bespoke apartments</a> - one, two and three bedrooms.
Buyers are being offered individually articulated interior floor plans by the developer, Jim Fagan of Cubik who is collaborating with Martin Adams.
"We wanted to have an inherent sense of architectural beauty about it,” he said.
Circular motifs are used throughout the interiors, from a circular vanity mirror to circular mosaics that grace the bathroom tiles.
"The 20th century Arts &amp; Craft movement conceived homes as part of a total ensemble that also included not only the architecture, but also the garden," he added.
ABC’s Gardening Australia presenter, John Patrick advised on the surrounding landscape and private courtyards with native plants and trees.
Some courtyards will be as large as 100 square metres.
The Cirqua display suite is situated at 204-206 Lower Heidelberg Road. 
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Cubik goes circular with its Cirqua, Ivanhoe East project

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Strike the bells! An undercover Potts Point car space fetched $264,000 at competitive auction tonight.
Set in somewhat dated 1960s block, The Chimes, the Macleay Street price easily exceeded all prior price estimates given the egos involved. It is understood to have sold to an entrepreneurial Sydney CBD medico with an active interest in Potts Point and Elizabeth Bay property.
It was a Sydney record. There are studios for sale from $335,000 in nearby Kings Cross. There is strata commercial studio space around nearby Kings Cross for sale at less.
<img src="https://www.urban.com.au/images/2015/05/28/Screen%20Shot%202015-05-29%20at%208.12.09%20AM.png" alt="">
Residential studios could be expected to fetch $305 plus a week in rent, while an open air, narrow, poled car space might be likely to fetch $70 a week.
There were about 10 keen local buyer participants after bidding opened at $120,000 for the auction rarity sandwiched between the harbour and the central business district.
There were still five in the contest as it approached $200,000. After buyers' agent Janne Sutcliffe dropped out as bidding headed towards $210,000, there were two locals remaining.
"Quarter of a million," was another milestone bid of the eventual buyer, with the room collectively gasping, many clutching their cocktail hour pearls.
Spilling out onto the plane tree-lined Parisian end of the strip, one high-rise apartment owner attendee brought his real estate loving schnauzer.
The sale through<a href="https://www.propertyobserver.com.au/https://www.randw.com.au/property/0000264730" target="_blank"> Richardson &amp; Wrench agents Greg McKinley and Luke McDonnell </a>reflected around $10,000 a square metre for the longer then normal 26 square metre space, but single car space.
There is a right of way across the title, which is about 10 metres long by about 2.4 metres wide at 45 Macleay Street on the McDonald Street corner.
"It was certainly not the norm," selling agent Greg McKinley told Property Observer in an after auction attempt to quell bragging among the boastful car parking cognoscenti tomorrow morning at local coffee shops. And possibly wider commentary from mainstream media who could be relied to misconstrue.
"It was something of a one off…. I was not expecting to see a 2 in front of the price," he said.
Auctioneer Peter Baldwin said such was the interest there had been been bets on the price from locals in the 'hood. 
The 10-storey, 80 unit Chimes strata block was registered in 1964 when the standard EJ Holden cost the equivalent of $2102.
The car space previously traded with a studio apartment, but prior to that sale sold at $60,000 in 2011 on its own and $31,000 in 1997. 
<img src="https://www.urban.com.au/images/2015/05/28/Screen%20Shot%202015-05-29%20at%208.11.51%20AM.png" alt="">
The last sale in the secure complex with two storey parking was adjacent at $90,000 in an off market deal last year.
Last October another residential inner city car space fetched a then record $210,000 at auction.
The $210,000 Elizabeth Bay car space was sold at Laing Real Estate auction, reflecting 13% annual price growth over the past 37 years.
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The inner city precinct has been described as the toughest in Australia to find a car space with almost 25,000 residents living in a 1.89 square kilometre footprint which is a <a href="/news/act/tyler-br-l-e-says-empty-canberra-cbd-needs-urban-renewal-and-possibly-udon-bolognese-eatery">restaurant mecca</a>.
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The residents own close to 6000 vehicles but with there are just 4300 on-street car spaces available, Sydney Council data shows. Many of the older buildings have limited, onsite, lease only car parking and council restrictions in more modern buildings often ensure the car spaces can not be transferred to outsiders.
Until tonight the Sydney record, as Property Observer concludes, was a 16 square metre single car parking space at North Bondi sold for $240,000 in 2010.
 
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Inner city car parking convenience costs record $264,000 at The Chimes, Potts Point

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Regional non-major lender Suncorp Bank has announced two new special offers available on its Home Package Plus product effective May 26.
Its standard variable and three year fixed Home Package Plus products will be offering an interest rate of 4.15% (comparison rate 4.16%) on new principal and interest loans of at least $150,000, with a maximum LVR of 80%.  Suncorp Bank head of intermediaries, Steven Degetto says interest rates are now at a generational low, "making it a good time for those looking to upgrade their current home, or assess their home loan options." The bank will also continue to waiver the annual Home Package Plus fee for the life of the loan, saving new customers up to $11,250.
FOR INFORMATION ON PROPERTY LOANS, RATES AND MORE, VISIT MOZO.COM.AU OR <a href="http://propertyobserver.com.au/forward-planning/tools/ebooks-and-webinars/42368-get-loan-savvy-expert-tips-for-a-first-time-investment-or-refinancing-loan-in-a-free-ebook" target="_blank">CLICK HERE</a> FOR THE FREE PROPERTY OBSERVER EBOOK, GET LOAN-SAVVY – TIPS FOR A FIRST TIME, INVESTMENT OR REFINANCING LOAN, WHICH HELPS YOU DECIDE ON A HOME LOAN THAT MEETS YOUR REQUIREMENTS.
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Suncorp lowers rates for new principal and interest loans

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Milbrovale, nestled at the base of the Brokenback Range, 7 kms beyond Broke, has been listed by the well known Newcastle couple Richard and Mary Owens.
The four hectare Hunter Valley estate has been listed for sale with Alan Jurd of Jurds Real Estate. 
The home got its inspiration from a Frank Lloyd Wright Prairie House.
<a href="https://www.realestate.com.au/property-lifestyle-nsw-broke-7741771" target="_blank">It was designed by Tanner &amp; Associates</a>, winning MBA Australian House of the Year when constructed.
The bespoke home featuring timber, stone, glass, metal and rendered finish, comes with home cinema and of course wine cellar.
There is a separate guest wing to accommodate up to twenty family and friends. 
Milbrovale's grounds come with resort style billabong swimming pool, tennis and basketball courts.
Milbrovale's marketing campaign runs until offers close June 26 with repricing to more than $2.6 million.
Alan Jurd estimates the replacement value of the residence at above $6 million.
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Milbrovale at Broke with $2.6 million plus hopes

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The RBA deputy governor Philip Lowe says recent measures from banking regulator, the Australian Prudential Regulation Authority (APRA) were having a "positive, albeit modest, effect".
"In the past couple of weeks you've seen a number of banks say they're requiring larger deposits for investor loans, they're offering smaller discounts on interest rates and smaller rebates, they're requiring higher serviceability levels," Dr Lowe said at yesterday's Thomson Reuters regulatory summit in Sydney.
But he added that the use of macroprudential tools can only be pushed so far.
"This is an issue that's very clearly on our radar screen. How far can you push the tighter regulation of the banking system without causing the same volume of loans to be made but just through a different financial intermediary," Dr Lowe said.
"In the '70s and the '60s we had a lot of the tools that are currently in vogue and we ended up getting rid of them was because what happened was that institutions found out ways of getting around the rules.
"Finance is very flexible and people are very good at moving the money from the people who have it to the people who want it."
He said Australia has not experienced rapid growth in non-bank loans yet, but any tougher regulations would make that far more likely.
"Maybe a few more loans are being made through non-bank lenders than through the banking system as a result of the tougher requirements, but it's very much at the margins," he said.
"But it's a margin that we do need to watch very carefully, and history tells us that if you make the incentive too misaligned between the banks and the non-banks then the funding will follow to the non-banks."
"My conversations with a number of banks around the country [suggest] the various APRA measures are having an effect," he said. 
"The measures so far seem to be having a positive albeit modest effect and it is worthwhile seeing how those play out.
"My subjective assessment would be the level of risk in bank mortgage portfolios has risen over the past couple of years."
Dr Lowe said the RBA was watching the steps taken in New Zealand.
"We follow these issues very carefully. Of course New Zealand's not the only country that's implemented some type of macroprudential regulation," he said.
"The number of countries that have done that over recent times is very large and so we watch, study the experience of other countries carefully."
"It is entirely appropriate that (Australian) households are careful as well because the level of risk there, while I don't think it is extreme, it has picked up and both financial institutions and households need to respond to that," he told the conference in Sydney.
"Household debt is high, property prices are very high, household income growth is slow, the unemployment rate has drifted up – all those things would suggest there has been an increase in the level of risk, particularly as people have bought property for investment purposes.
"In that environment, it is entirely appropriate [the banking regulator] APRA has a very close dialogue with financial institutions about the risks in those portfolios, and makes sure there are plenty of buffers there in case things don't turn out so well."
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RBA warns on heightened level of property investment risk

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There is now a $1,999,000 asking price after the scheduled weekend auction of a Port Douglas holding failed to secure a sale.
The <a href="https://www.realestate.com.au/property-acreage+semi+rural-qld-port+douglas-119202107" target="_blank">6173R Captain Cook Highway</a> holding is a 37 hectare holding with homestead and cottage.
<img src="https://i1.au.reastatic.net/456x342/ab86bf576e42247b05f06be742d2a8a64b0b4b109043408d45892c2ee4efb513/main.jpg" alt="6173R Captain Cook Highway, Port Douglas" title="6173R Captain Cook Highway, Port Douglas" style="line-height: 1.3em;" data-index="0">
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<div class="thumb activeThumb">It was listed through Callum Jones and Tony McGrath at Tony McGrath Real Estate Port Douglas.
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It was marketed as suitable for up to 100 head of cattle, a registered primary producing property - therefore no land tax. 
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Port Douglas farm with $1.99 million asking price

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Glenray Park, the historic Yetholme homestead, has been sold by Mary Moody, one of Australia's leading horticulturalists and gardening authors.
Lovingly restored and cared for over her 20 year tenure, the home was built near Bathurst by Mabel Walshaw in 1908.
It sold at $746,000
It has been marketed as having stunning mature ornamental park-like garden surrounding the homestead which boasts the grandeur of historical homesteads with a surge of new age sustainable living. The five bedroom, two bathroom triple brick homestead has 14 foot ceilings, five fire places, and Oregon doors and trims.
Within the 20 acre property, there is a permanent mountain spring and Frying Pan creek water. There have been cattle run on the farm on the western slopes of the Blue Mountains in New South Wales.
The grounds have two irrigated propagation/shade houses for the professional market gardener and chook house and home vegetable garden. 
There's a 1920s dance hall once used for community dances and meetings could be transformed into a functions room or artists studio. 
<a href="https://raywhiteruralemmsmooney.com.au/nsw/yetholme/1276127/" target="_blank">Glenray Park</a>, at 61 Porters Lane, Yetholme, sold through Ray White Emms Mooney agents Patrick Bird and Sam D'Arcy. There were $700,000 plus expectations.
Yetholme is 20 minutes east of Bathurst and two hours drive from Sydney's CBD. 
<a href="https://www.marymoody.com.au" target="_blank">The gardening author</a> who trained as a journalist in the late 1960s at the Australian Women's Weekly was a long time presenter on Gardening Australia from her then Leura, Blue Mountains home. Her memoirs included Au Revoir, Last Tango in Toulouse, The Long Hot Summer and Sweet Surrender.
She has lead tours in France and the Himalayas and has written a book and made a film on a local rural French restaurant, Lunch with Madame Murat, for the SBS Network.
Glenray Park has been listed following the death of her partner, the film maker David Hannay in March 2014. It was 2001 when the couple relocated permanently to the Bathurst district after selling Villa Florence, their Katoomba cottage.
Moody is moving back to the mountains to be closer to family, but intends keeping a small block of land with an eco-cottage.
The Yetholme property was sold to buyers from the Blue Mountains.
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Gardening storyteller Mary Moody sells Yetholme, Bahurst district farm

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<div>The REINSW has noted a rise in vacancy rates in the NSW coastal regional city of Newcastle, up from 3.4 per cent to 4.6 per cent.</div>
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 The Hunter also saw a rise from 3.1 per cent to 3.9 per cent, the April 2015 Real Estate Institute of New South Wales data revealed.</div>
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<div>It has been suggested the spike reflects unemployment rates of 8.4 per cent at Newcastle or even higher around the Hunter region at 11.8%, according to the ABS.</div>
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<div>
<h2>Unemployment Rates by Labour Force Region, April 2015 (15+) (%)</h2>
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<table class="DataTable" border="1" rules="all" cellspacing="0"><tbody>
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<th scope="col">Labour Force Region</th>
<th scope="col">Unemployment Rate</th>
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<td>Sydney - Northern Beaches</td>
<td>2.9</td>
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<td>Sydney - North Sydney and Hornsby</td>
<td>3.6</td>
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<td>Sydney - Sutherland</td>
<td>3.6</td>
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<td>Sydney - Eastern Suburbs</td>
<td>3.7</td>
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<td>Sydney - Baulkham Hills and Hawkesbury</td>
<td>4.2</td>
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<td>Capital Region</td>
<td>4.5</td>
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<td>Sydney - Inner West</td>
<td>4.6</td>
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<td>Sydney - Outer West and Blue Mountains</td>
<td>5.3</td>
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<td>Sydney - City and Inner South</td>
<td>5.5</td>
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<td>Sydney - Parramatta</td>
<td>5.6</td>
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<td>Far West and Orana</td>
<td>5.7</td>
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<td>Central Coast</td>
<td>5.8</td>
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<td>Riverina</td>
<td>5.8</td>
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<td>Sydney - Outer South West</td>
<td>6.2</td>
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<td>Sydney - Blacktown</td>
<td>6.4</td>
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<td>Sydney - Ryde</td>
<td>6.5</td>
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<td>Sydney - South West</td>
<td>7.0</td>
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<td>Sydney - Inner South West</td>
<td>7.3</td>
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<td>Coffs Harbour - Grafton</td>
<td>7.5</td>
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<td>Mid North Coast</td>
<td>7.8</td>
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<td>Central West</td>
<td>8.1</td>
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<td>Illawarra</td>
<td>8.1</td>
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<td>New England and North West</td>
<td>8.2</td>
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<td>Murray</td>
<td>8.4</td>
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<td>Newcastle and Lake Macquarie</td>
<td>8.4</td>
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<td>Southern Highlands and Shoalhaven</td>
<td>8.7</td>
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<td>Richmond - Tweed</td>
<td>8.8</td>
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<td>Hunter Valley exc Newcastle</td>
<td>11.8</td>
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</tbody></table>
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<div>It is a lot tighter south of Sydney Wollongong saw vacancies rise 0.8 per cent in the month to 1.8 percent.
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<div>There was a 0.3 per cent increase in the Illawarra to 1.3 per cent.</div>
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<div>Sydney vacancy rates remained stable in April 2015, tightening in the inner and middle ring, but recording an increase in vacancy rates in the outer.
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Newcastle's worrying high rental vacancy rate: REINSW

Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.

The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.

The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.

Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.

The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.

Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.

The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.

Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.

"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.

"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."

The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.

&nbsp;

Joel Robinson

Central Element seeks second Drummoyne apartment development

The NSW Government has unveiled plans that could deliver around 1,300 new homes across Nowra and Kiama, continuing its push to unlock housing in well-located regional centres along the South Coast.

The proposals, now on public exhibition, would pave the way for around 830 homes in Nowra and a further 450 homes in Kiama, while also introducing affordable housing requirements and increased building heights in key locations.

The larger of the two proposals is centred on Nowra, where the NSW Government is seeking to rezone land within the Mandalay and Riverfront precincts.

The Mandalay sub-precinct, located close to Shoalhaven Memorial Hospital, Nowra Library and the city's aquatic centre, could accommodate around 530 new homes. Around 30 per cent of housing delivered on Homes NSW-owned land would be dedicated to social and affordable housing, equating to roughly 100 homes. Building heights would increase from the current two-storey limit to between three and six storeys.

A separate rezoning proposal for the Nowra Riverfront Precinct would unlock a further 377 homes while creating stronger connections between the Shoalhaven River and the CBD. The plans include building heights ranging from five to 12 storeys, floor space ratios of up to 2:1 and a requirement for two per cent affordable housing.

Together, the two proposals would deliver more than 900 homes across the broader Nowra area, reinforcing the city's role as one of regional NSW's key growth centres.

The housing push builds on previous infrastructure commitments in the Shoalhaven, including government funding aimed at supporting thousands of future homes in West Nowra through upgrades to water and wastewater infrastructure.

Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.

The rezoning proposal would transform the former industrial site into a residential community capable of delivering up to 450 homes. Buildings would range between six and eight storeys, with at least 10 per cent of homes allocated as affordable housing. The proposal also includes approximately 600 parking spaces and improved walking and cycling connections.

Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.

"For too long, families have struggled to find somewhere to live, and activating underutilised sites allows us to deliver the new homes these families need," Scully said.

"The Minns Labor Government is getting on with the job of unlocking well-located sites close to transport, jobs, and town centres and building the homes our communities need.

"These rezonings are about removing barriers to housing delivery and making sure land is put to better use so more people can find a place to call home within the communities they choose."

The latest rezonings form part of the Minns Government's broader strategy to accelerate housing delivery across NSW, particularly in established centres where existing infrastructure can support additional population growth.

Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.

Around 1,300 new homes earmarked for Nowra and Kiama as NSW Government pushes housing supply

<a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.

The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.

<a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

[smartcode_project:default project_id=134403 project_image_fid=350663]

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.

Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.

Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

[smartcode_project:default project_id=134403 project_image_fid=372756]

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.

"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."

[smartcode_project:default project_id=134403 project_image_fid=350664]

MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."

Construction at Maris is anticipated to be completed in 2029.

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Construction commences on MRCB’s $200m Maris Residences in Southport

Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.

Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;

The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.

Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;

[smartcode_project:default project_id=142519 project_image_fid=372786]

Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;

The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;

Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.

"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”

Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.

Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.

[smartcode_project_cta:default project_id=142519]

Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.

Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.

The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" />

According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" />

Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.

The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.

The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.

<img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" />

Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.

Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.

The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.

Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.

Jonathan Chancellor

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