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BIS Shrapnel forecasts that only Brisbane and Sydney will experience house price growth after adjusting for inflation over the next three years.
However Brisbane is tipped to be the boom city, with BIS Shrapnel forecasting 17% nominal growth which would be around 8% after inflation.
Sydney prices are expected to climb over the next two years before declining in 2017, resulting in a 10% nominal gain over the three year period reflecting a 1% real gain. 
The Sydney and Brisbane growth will be underpinned by tight housing supply.
Meanwhile the Melbourne market continues to face challenges, including a subdued manufacturing sector, so BIS says its property prices will rise by just 8% in nominal terms, thereby being a 1% decline in real-terms between now and 2017.
<img src="/images/2014/06/24/bis-june-24-one.jpg" alt="">
Overall the national momentum in price growth that emerged in 2013/14 is expected to continue to support prices in 2014/15 and to a lesser extent in 2015/16, however, rising construction and the potential for oversupply in many markets, together with an eventual tightening in interest rate policy, will potentially create conditions for price declines by 2016/17.
According to BIS Shrapnel’s Residential Property Prospects, 2014 to 2017 report, tight markets and low interest rates have been the catalyst for the strength in the Sydney, Melbourne, Perth and Darwin markets over the past 12 months, as well as an emerging upturn in Brisbane. 
In the other capital cities, low interest rates have been helping to support stronger purchaser activity, if not stronger price growth.
BIS Shrapnel senior manager Angie Zigomanis, says that although prices have been rising in a number of capital cities, affordability at current interest rates are sufficiently attractive to maintain further price growth for now. 
"Rising construction pipelines have not yet worked their way through to completion and therefore supply, so pressures in most markets still remain.
“The current standard variable rate of 5.95% is, outside of the GFC emergency low interest rates in 2009, the lowest level in over 40 years.
 “As a result, affordability in most capital cities remains at early-2000s levels, which should be supportive of price growth.
“The low interest rates have had minimal impact on first home buyer demand, which has weakened considerably as state governments have removed incentives for established dwellings in favour of targeted incentives for new dwellings. 
"However, this weakness has been more than compensated for by the strength of ‘next time buyers’ and investors. 
"Population growth has also experienced a surge as net overseas migration increased from a low of 180,200 in 2010/11 to 244,400 in 2012/13, with the subsequent rise in rental demand also placing pressure on many capital city markets and helping to underpin price growth.”
These conditions are expected to continue to support prices over 2014/15 in light of relatively muted economic conditions as the economy transitions from being driven by resource investment to being driven by consumption and business and residential investment.
But the report warns of rapidly weakening economies in Western Australia and the Northern Territory – as mining investment is wound back – with slowing price growth in Perth and Darwin. 
"With limited dwelling deficiencies, or oversupplies, the markets in South Australia, Tasmania and Australian Capital Territory are expected to remain relatively flat."
Brisbane’s estimated median house price of $475,000 in June 2014 represents an eight% increase for the year.
"From a fundamental perspective, things are improving in the Brisbane market," Angie Zigomanis says.
He noted new dwelling construction had fallen below underlying demand in the Queensland market in recent years and an underlying deficiency of dwellings has emerged, with vacancy rates in Brisbane of 2.3% in March quarter 2014. 
"Brisbane’s median house price at June 2014 is seven% below its June 2010 peak in real terms, which together with the low interest rate environment has resulted in affordability being at early-2000s levels.
"This is all beginning to have an impact on purchaser sentiment, with upgrader and investor demand increasing and encouraging price rises.
“The pieces are falling into place for the Brisbane residential market to continue to strengthen,” said Zigomanis.
 “However, the pace of price growth is likely to be moderate, with economic conditions still relatively subdued and net interstate migration inflows are at low levels.”
BIS Shrapnel forecast single digit price growth of seven to eight% per annum is forecast over 2014/15 and 2015/16 as purchaser activity continues to strengthen. 
A corresponding increase in new dwelling construction should also contribute to stronger economic conditions, particularly with a sizeable underlying dwelling deficiency expected to still be in place. 
The forecast peak in interest rates is expected to slow price growth by 2016/17, although price declines are not expected given the presence of an undersupply of dwellings.
A total rise of 17% in the Brisbane median house price is forecast over the three years to 2017, representing an average rise of 5.3% per annum.
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jchancellor-FAypfDUnLy

Brisbane houses have best prospect over next three years: BIS Shrapnel 

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The Collingwood defender Nathan Brown failed to sell his Brighton apartment at recent weekend Melbourne auction.
Its listing following his recent purchase of a $1.14 million, two bedroom 1910 Brighton cottage.
Brown, who isn't expected to play again this season after recent shoulder surgery, bought the first-floor apartment in 2010 for $610,000.
But the highest bid at weekend auction was $580,000. But it has since been <a href="https://www.realestateview.com.au/Real-Estate/8-36-well-street-brighton/Property-Details-buy-residential-7151247" target="_blank">listed at $550,000 plus price guidance</a>.
He lived at 8/36 Well Street with his fiancee Liana Flood until putting it in the rental pool with initial $575 weekly expectations early 2013.
The two bedroom apartment, built in 2008, features two en-suite bedrooms.
Nick Johnstone, of Nick Johnstone Real Estate, was quoting $550,000-plus in its pre-auction marketing.
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Collingwood's Nathan Brown yet to offload Brighton apartment 

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There can be significant tax benefits when investors buy an investment property off the plan.
These benefits are greater for new property with more tax depreciation items available.
It is important to have a schedule of inclusions, such as fittings and fixtures on the sale contract, and then commission a depreciation schedule from a reputable provider.
Off the plan buyers can qualify for a 50% CGT discount but the ATO requires that a period of 12 months elapses before the buyer is eligible.
This period begins when the contract has been signed, so provided your settlement period is 12 months or longer (as it will be in most cases) investors could in theory sell along the way, or the day after settlement and still qualify for the generous tax concession.
But be warned the CGT discount only applies if there are changes in the taxpayers circumstances.
Any property bought with the intention of selling it at a profit as soon as it is completed, does not qualify as an investment but as part of a profit-making scheme, so normal income tax would apply.
Ken Raiss, partner at Chan &amp; Naylor Accountants, has pointed out in the past that buying with the intention to sell the sale would still be taxed at marginal tax rates even if you keep it for much longer than 12 months.
If you originally intended to keep the property but decide to sell due to unforeseen circumstances (say, after six months), it is still considered a capital gain but is not subject to the 50% CGT discount.
This means you will still be taxed at your marginal tax rate. This could be advantageous if you have capital losses.
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Tax planning for off the plan apartment purchasing

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Unsold last year, 13 Merriwee Crescent, Toorak remains on the market with $3.7 million expectations for the five bedrooms, four bathroom house.
It's a 1970-built Neil Clerehan-designed home on its 836 square metre block. Title Tattle gathers it was built for the Skepper family.
<a href="https://www.kayburton.com.au/property/13-merriwee-crescent-toorak" target="_blank">Kay </a><a href="https://www.kayburton.com.au/property/13-merriwee-crescent-toorak" target="_blank">&amp; Burton agent Michael Armstrong has the listing</a> of the smart mid-20th century offering which has only had the three owners. 
Set back from the street, the house comes with flat black roof and frame accents.
Inside there is glass balustrading and pool.
It last traded at $752,000 in 1993 when sold by John and Marlene Milburn-Pyle to the current vendors.
It was sold around the time when John Milburn-Pyle departed Colonial Mutual Life, one of Australia's oldest life offices. He and Colonial Mutual purchased the home in 1983 for around $420,000 in 1983 on a 46/54 split. He bought out the CML 54% part equity in home in pre-recession 1990 for around $510,000.
RT Edgar had the offering last April when it was passed in at auction on a $3.2 million vendor bid.
Merriwee Crescent's last sale was post-auction in May when a sale was secured after 10 Merriwee Crescent was passed in at $2.525 million.
<a href="https://marketnews.com.au/auction-reviews/33227/10-Merriwee-Crescent-TOORAK/" target="_blank">There was just the one reported bidder</a> at the Marshall White auction. It had sold in late 2012 at $2.65 million.
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Neil Clerehan-designed Toorak gem returns to market

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A new all-time June record for both listings and sales in Sydney is being set this month, following what Australian Property Monitors described as another "robust" result at the weekend.
High listing numbers continue with around 578 properties put under the hammer at the weekend which was 37% higher than the same June weekend last year.
With another 580 next weekend, June's volume will exceed 2,150 listings. There were fewer than 2,000 last June, which was a five weekend month. 
However sales in Sydney’s home auction market has shifted "down a gear" over recent months with weekend clearance rates averaging 74% so far over June compared to the 77% averaged over both May and April, and the 82.3% averaged over March. 
Auction sales activity nonetheless remains at record levels for this time of the year which is likely to continue for the remainder of the usually quieter winter selling season as low interest rates, rising population and a thriving local economy continue to fuel the market, the Australian Property Monitors senior economist Dr Andrew Wilson.
Weekend sales included <a href="https://www.raywhite.com/nsw/horsley-park/1140477/" target="_blank">46-52 Garfield Rd, Horsley Park</a> which sold at around $2 million, a six bedroom home on 2.7 acres. Michael Marinakis at Ray White Green Valley described the property (pictured above) as resort style living. There have been three prior sales above $2 million of acreage homes, but they were between 2007 and 2011.
It was knocked down by the auctioneer, Rob Trovato, at Auction Services.
The best clearance rate over the weekend was in the northern beaches with a clearance rate of 88.5%. Sales results from the northern beaches at the weekend included a four bedroom home at 18 Handoub Parade, North Curl Curl which sold for $2.8 million. The extended three level 1940s house traded at $640,000 in 1988. The Ray White selling agents had been advising $2.7 million plus had been tipped.
The next best district was the city and east with 86%.
<a href="/news/newcastle-knights-prop-willie-mason-lists-clovelly-property-title-tattle">But Willie Mason, the Newcastle Knights forward, didn't sell his</a><a href="/news/newcastle-knights-prop-willie-mason-lists-clovelly-property-title-tattle"> Clovelly investment pad at the weekend with three registered parties</a>.
There were no bids for the two-bedroom designer semi opposite Clovelly Baths was passed in at Saturday’s auction through listing agent Daniel Gillespie from Belle Property Bondi Junction who was seeking $2.5 million plus for the house with with views of Wedding Cake Island. It was 2007 when the NRL player bought a home at Clovelly for $2.3 million.
The lower north shore had 83%, Canterbury Bankstown with 76.5%, then the upper north shore with 74.5%.
The inner west, where the boom began last year, was the weakest district with a weekend clearance rate of 74%.
The most expensive property reported sold at auction at the weekend was at the bedroom home at 210 Albert Road Strathfield sold for $3.8 million. But the out of area agents, Simeon Manners had been quoting $4 million plus for the house with tennis court and pool on 1,230 square metres which last traded at $2.54 million in 2006.
The most affordable NSW property reported sold at the weekend was a two bedroom home at 2/3-5 Canton Beach Road Toukley sold for $270,000 by Raine and Horne Charmhaven. It sold at $165,000 in 1999. The agents were suggesting $260,000 plus in the final days before the auction.
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Willie Mason doesn't sell, but June Sydney auctions on record streak

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The area of agricultural land in Australia owned by businesses with some level of foreign ownership increased from 44.9 million hectares at December 2010 to 49.6 million hectares at June 2013.
The increase of 4.7 million hectares, or 11%, was detected in the second survey by the Australian Bureau of Statistics (ABS) in its <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/7127.0main+features1Jun%202013" target="_blank">2013 Agricultural Land and Water Ownership survey (ALWOS)</a>.
The Northern Territory had the highest proportion of its agricultural land owned by businesses with a level of foreign ownership at 32% or 17.7 million hectares.
Victoria had the lowest proportion of its agricultural land owned by businesses with a level of foreign ownership at 2% or 238,000 hectares.
The first survey was conducted following the introduction of the Foreign Acquisitions Amendment (Agricultural Land) Bill, when the ABS was asked to collect information on the level of foreign ownership of agricultural businesses, land and water entitlements used for agricultural activity to inform government policy.
But doubts exist around the thoroughness of the survey. In 2012 the federal government announced it would fund ongoing and expanded statistical data collection by the ABS on foreign ownership of agricultural land and water entitlements. This was to be collected via stand-alone sample surveys in 2013 and 2018 and through the Agricultural Census in 2016 and 2021.
The latest data result showed in 2013 that 95% of the total area of agricultural land owned by businesses with a level of foreign ownership (47.2 million hectares) was owned by some 45 businesses.
Each of these businesses had land holdings over 100,000 hectares in size.
In 2010, 94% of the total area of agricultural land owned by businesses with a level of foreign ownership was owned by 44 businesses, each with land holdings over 100,000 hectares in size.
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Northern Territory has the highest proportion of farm foreign ownership

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Art gallery owner Rob Gould’s South Yarra home <a href="/news/art-dealer-rob-goulds-south-yarra-home-offering-polar-bear-not-included">had been listed for sale</a> with $5.5 million plus hopes, before it was passed in at weekend auction on a $4.8 million vendor bid. It now comes with a $5,295,000 asking price.
Renovated by architect John Wardle, the four-bedroom early 1900s Park Street semi was <a href="https://www.23parkstreet-southyarra.com/" target="_blank" style="line-height: 1.3em;">listed by Marshall White agent Marcus Chiminello</a>.
It's all on a modest 379 square metre block behind its ordinary classic Victorian facade.
The gallery owner’s art collection features works including the Scott Redford sculpture 'My Beautiful New Polar Bear' in its courtyard.
The prominent art dealer received media attention in 2012 when his former partner, Sotheby’s Australia chairman Geoffrey Smith, took legal action in an attempt to secure a share of assets after their 14-year relationship came to an end. 
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<div class="premGallery">Gould is downsizing and has not ruled out a move to Sydney, where he owns an apartment.</div>
</div>
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Rob Gould, South Yarra abode's new $5,295,000 asking price

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Channel 9 has released its initial video revealing the contestant couples for its next renovation suction series of The Block Glasshouse.
<a href="https://www.youtube.com/watch?v=n6gZP26PqR4&amp;feature=youtu.be" target="_blank">There is no date yet set for </a>the series start, but it is expected to air after the current season of The Voice wraps.
The contestants include retired AFL ruckman <a href="/expert-insights/buying/former-afl-ruckman-darren-jolly-sells-surrey-hills-and-joins-the-block-prahran">Darren Jolly</a> and his wife Deanne.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2014/06/23/block%20glasshouse%20contestants%20june%2023.jpg" alt="">
Photo courtesy of Channel 9/Facebook.
The video suggests <a href="https://www.facebook.com/TheBlock" target="_blank">The Block</a> has responded slightly to past criticism over its lack of diversity.
It was something that the executive producer Julian Cress had been keen to reverse, thwarted as past Block series applications had resulted in fewer than 4% of applicants being other than Caucasian.
The Block, now into its 9th series, has previously had contestants with Italian, Greek and Lebanese heritage. There will be a contestant of Asian heritage in the series.
The Block was one of the first TV shows in the world to cast a gay couple in its initial 2003 series.
In 2014 Tasmania gets its first contestants, sibling guys, Shannon and Simon in the Glasshouse. 
The other contestants are Michael and Carlene from the Gold Coast; Karstan and Maxine from Newcastle; and Jenna and Chris from Sydney.
The next Channel 9 series of The Block Glasshouse is set for the<a href="/news/the-block-shifting-to-high-street-prahran-after-objectors-fail-to-lodge-vcat-appeal"> busy cosmopolitan High Street, Prahran</a> where some <a href="/developments/prahran-vic-3181">36% of the population are singles</a>.
There are five contestant couples, although the development proposal will see six split-level atrium apartments above two restaurants in a converted Prahran office block.
The production company, Watercress spent $8.25 million on the 1980s office building near trendy Chapel Street and opposite Swinburne University's Prahran campus last August.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2014/06/23/life-in-a-glass-house-june-23-breakout.jpg" alt="">
The $2.5 million Brenchley Architects infill works schedule for <a href="https://www.commercialrealestate.com.au/property/2010600795/for-sale/vic/prahran/offices" target="_blank" rel="nofollow">the three-storey 3,540-square-metre building</a> (pictured above) will be mostly internally, but sought car parking dispensation and a waiver of loading and unloading requirements in association with the food and drink premises.
Feature photo courtesy of Channel 9/Facebook.
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Diversity as Prahran's The Block Glasshouse contestants revealed

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The Westfield Retail vote taken on Friday will allow Westfield Group – which will become known as Westfield Corporation – to cut its ties with Australia and focus on global cities, including New York, London and Milan.
There was a total of 76.09% votes in favour of the restructure, narrowly exceeding the 75% approval requirement.
The Westfield Group and Westfield Retail Trust are likely to begin trading on Wednesday, on a deferred settlement basis, as Westfield Corporation and Scentre Group respectively. 
The proposal remains subject to a number of conditions, including WDC obtaining the necessary orders from the Supreme Court of NSW at the hearing scheduled for 23 June.
Subject to satisfaction of these conditions the last day of trading in WDC securities will be Tuesday 24 June 2014.  Scentre Group securities will commence trading on a deferred basis on Wednesday 25 June 2014. 
From Brazil, the chairman of WDC, Mr Frank Lowy, said he was pleased with the result.
“Achieving a 75% 'yes' vote was a high hurdle but we were always confident of the intrinsic strategic merit and fairness of the proposal to both entities and we now look forward to the creation of what will be two new, great companies,” he said.
The proposal to separate Westfield Group's Australian and NZ business from its international business was announced in December 2013 and was based on the fact that each business now had the necessary size and scope, supported by depth of executive talent, to compete effectively and thrive on their own.
It was also based on the belief that allowing investors the option of two entities, representing different markets, as well as somewhat different investment opportunities and currency options, would unlock significant value and choice for shareholders. 
Frank Lowy, will chair both Westfield Corporation and Scentre Group.
Peter and Steven Lowy will be co-chief executive officers of Westfield Corporation and Westfield group chief financial officer, Peter Allen, will become chief executive officer of Scentre Group. Merrill Lynch has estimated the implied entry price into Scentre and Westfield Corporation at $3.07 a share and $6.41 a share respectively (after incorporating the capital return, first-half 2014 distributions and the conversion ratios of both stocks).
The prior Westfield Group had interests in and operates one of the world's largest shopping centre portfolios with investment interests in 87 shopping centres across Australia, the United States, the United Kingdom and New Zealand, encompassing 20,000 retail outlets and total assets under management of over $68bn.
WRT and the 8% Lowy-owned Westfield Group will both sell their jointly owned 47 Australian and New Zealand shopping centres into the new listed company, Scentre, in return for shares and cash. Westfield will also sell management and development rights on the properties to Scentre, and its shareholders will own more than half of Scentre.
Westfield will rename itself Westfield Corporation, with a portfolio of 44 shopping centres across the United States, Britain and Europe.
The Age columnist Malcolm Maiden noted of the top 10 Australian real estate investment trusts, WRT was the only one that was still externally managed.
While Scentre will own and manage top-flight retail assets, Maiden noted it will have a block of shares on its register that will be classed as an overhang until evidence shows otherwise.
Of the top 10 Australian real estate investment trusts, WRT was the only one that was still externally managed.
"The holders of almost 20% of WRT's securities voted against the restructure, and they will own about 8% of Scentre.
"The Lowy family will also inherit a holding of about 4% in Scentre, and as this restructure shows, its attention is going to be focused overseas."
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Westfield's Scentre Group set for trading commencement

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Lend Lease secured the off the plan sellout of all 357 Sydney apartments in the first stage of its Darling Square<a href="https://www.darlingsq.com" target="_blank"></a> residences, totalling at least $500 million, with revenue estimates as high as $650 million.
Set on the doorstep of Darling Harbour, Haymarket, Chinatown and Ultimo, the entire <a href="https://www.darlingsq.com" target="_blank">Darling Square</a> project will comprise 1,400 apartments, 20,000 square metres of campus-style offices and retail around a new town square. There will be an estimated 3,200 new residents, plus 1,000 students in student accommodation and 2,000 workers in the mixed-use precinct which will be part of the Darling Quarter redevelopment by Lend Lease on the edge of Darling Harbour. 
Marketed as "Sydney's newest Darling," prices ranged from $700,000 for a 50-square-metre, one-bedroom ­apartment to $3.5 million for a 130-square-metre sky home through CBRE in Darling Square which will have apartments on which SJB and DCM have collaborated.
About 25% of apartments were sold to offshore ­buyers.
The proximity to UTS encouraged purchasing by Chinese families.
Construction of the 40-storey apartment block and seven-storey block will be completed in 2017.
It is among the three towers to be built on the site of the Sydney Entertainment Centre and car park at Haymarket.
The entire precinct is due for completion in 2020. 
The Lend Lease executive project director, Rob Deck reported more than 5,000 inquiries before Saturday's public launch.
Last August, Lend Lease secured the same day sellout of the first stage of Barangaroo - 159 apartments - which secured some $300 million worth of sales.
Meanwhile Grocon and Markham Corporation have approval for their $700 million redevelopment of the Imax theatre in Darling Harbour, Sydney, into the proposed office/retail and entertainment complex, The Ribbon. It will involve the demolition of the Imax tower replaced by a 20-storey building.
 
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Darling Square first stage sellout by Lend Lease

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

[smartcode_project:default project_id=140755 project_image_fid=354809]

The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

[smartcode_project:default project_id=140755 project_image_fid=366267]

The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

[smartcode_project_cta:default project_id=140755]

Joel Robinson

The enduring appeal of Kew's tree-lined streets and village lifestyle

"For me, it's the location." That was the first thing Chris pointed to when reflecting on why he and his wife Marita decided to purchase at Candela Ivanhoe, the under-construction new apartment development by Salter Brothers in the heart of the north-eastern M​elb​ourne​ suburb. ​

"We've lived here before… everything is here," Chris said.

"Our doctor is around the corner, there's dentists, pilates, everything we need, restaurants, fast food places, two train stations, Ivanhoe and Darebin, both in walking distance. You don't need anything else."

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/X8K0Bozug7A?si=Puwc6vx_ZO0qQZF8" title="YouTube video player" width="560"></iframe>

Just 10 kilometres from Melbo​urn​e's CBD, Ivanhoe combines direct city connectivity with the amenity of an established village community. Residents have access to highly regarded schools, expansive parklands, public transport, and a thriving retail and hospitality precinct centred around Upper Heidelberg Road, all within a neighbourhood that has retained its leafy character despite its proximity to the city.

<a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a> sits within the heart of this established landscape, positioned just moments from Ivanhoe Village and within walking distance of many of the suburb's most sought-after amenities.

[smartcode_project:default project_id=342 project_image_fid=364553]

From Candela, residents can access cafés, grocers, wine bars, restaurants and essential services on foot, while Ivanhoe Station and Darebin Station provide direct connectivity across Mel​bour​ne. The development is also surrounded by some of the suburb's best-known lifestyle destinations, including Pinkie, Laurent, Enni, Docasa and Woodfire Pizza e Cucina, alongside Ivanhoe Plaza, Woolworths, pharmacies and specialty retailers.

Green space is another defining feature of the suburb. Darebin Parklands, Ivanhoe Park, Nellie Ibbot Park and the Yarra River trail network provide extensive opportunities for recreation, while Ivanhoe Golf Course and Ivanhoe Tennis Club continue to underpin the area's long-established lifestyle appeal.

The suburb's education offering further strengthens demand. Ivanhoe Grammar School, Ivanhoe Girls' Grammar School, Mary Immaculate Primary School and Ivanhoe Primary School have helped establish the area as one of Melbou​​rne's most sought-after schooling precincts, attracting families and downsizers alike who want to remain connected to the area.

[smartcode_project:default project_id=342 project_image_fid=357510]

While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.

"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.

"We're just thrilled with our choice."

[smartcode_project:default project_id=342 project_image_fid=336455]

Developed by <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>, Candela Ivanhoe has been designed to complement its village setting, with an emphasis on generous floorplans, natural light and practical everyday living.

Residents will have access to a range of shared amenities, including a communal rooftop garden and dedicated residential lounge, complemented by a ground-floor café and lifestyle wellbeing centre, helping foster the sense of community already emerging among future owners.

That approach has resonated strongly with the market. More than 90 per cent of purchasers at Candela Ivanhoe are owner-occupiers, with buyers ranging from downsizers and second-home buyers to young families and first home buyers, creating a genuinely multi-generational community of grandparents, parents and children. It reflects a broader shift across Melbo​​urne's apartment market, where buyers are increasingly prioritising neighbourhood quality, lifestyle amenity and long-term liveability.

Currently under construction by Ironside, Candela Ivanhoe comprises 58 apartments. Candela Ivanhoe is scheduled for completion in the coming months, and residents can move in from September. One to four bedroom residences, prices from $649,000 and limited opportunities remaining.

[smartcode_project_cta:default project_id=342]

Location and lifestyle drive demand at Candela Ivanhoe

As apartment buyers increasingly look beyond the four walls of their residence, the quality and depth of shared amenity has become a defining factor in how developments are designed and experienced, particularly in the high-rise, new apartment development space.

In Southbank, where high-density living continues to evolve, developers are placing greater emphasis on creating environments that support wellbeing, connection, and convenience as part of everyday life.

That approach sits at the heart of <a href="https://www.apartments.com.au/new-apartments/aura-at-melbourne-square-7-hoff-boulevard-southbank-vic-3006">AURA</a>, the latest residential tower in <a href="https://www.apartments.com.au/developers/osk-property">OSK Property</a>’s $3.5 billion Melbourne Square precinct. Rising 67 storeys above Hoff Boulevard, the 673-apartment development has been conceived around what OSK describes as a “vertical wellness ecosystem”, a layered collection of amenities that extends throughout the building rather than being confined to a single podium level.

[smartcode_project:default project_id=151921 project_image_fid=370263]

The amenity offering begins on the seventh level within the AURA Club, a dedicated resident hub focused on health, relaxation, and daily convenience. Here, residents will have access to an indoor swimming pool, cold plunge, spa, sauna, and steam room, alongside a fully equipped gym, reformer Pilates studio, and yoga room.

The wellness facilities are complemented by a range of spaces that acknowledge the changing ways people live and work. Work-from-home lounges and co-working areas sit alongside a library, music room, games room, cinema facilities, and open-air terrace spaces, providing residents with flexible environments that can adapt throughout the day.

[smartcode_project:default project_id=151921 project_image_fid=367468]

Beyond the internal amenity, AURA introduces a series of Japanese-inspired gardens that form a quieter counterpoint to the tower’s social spaces.

Landscaped retreats feature curated outdoor dining, tranquil courtyard seating, fire pit, and a tea house pavilion. Rather than functioning as simple recreational areas, the gardens have been designed as places for reflection and informal gathering, drawing on principles of balance, nature, and calm that underpin the project's broader design philosophy.

[smartcode_project:default project_id=151921 project_image_fid=367810]

The social amenity continues to evolve as residents move higher through the building. Levels 49 and 50 house the Meridian Club, where a lounge bar, conservatory spaces, and private dining rooms take advantage of elevated city views. At the summit of the tower, the exclusive Cumulus Club spans Levels 66 and 67, offering additional lounges, private dining, and meditation and treatment rooms positioned above Melbourne’s skyline.

For OSK Property, the extensive amenity offering reflects a broader focus on wellbeing as a core component of apartment living rather than an added feature.

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after Southbank,” says OSK Property CEO Chong Boon Woon.

[smartcode_project:default project_id=151921 project_image_fid=367796]

AURA’s amenity strategy extends beyond the tower itself through its integration with the wider Melbourne Square precinct.

Residents will have direct access to Kennedy Park, Southbank’s 3,745 sqm landscaped public park, alongside a full-line Woolworths supermarket, childcare centre, hospitality venues, and approximately 1,600 sqm of additional retail planned within AURA’s lower levels. Together, these elements create a highly connected residential environment where daily needs, recreation, and wellness are woven into the fabric of the community.

[smartcode_project:default project_id=151921 project_image_fid=370253]

As Melbourne’s apartment market continues to mature, developments are increasingly judged by the lifestyle they provide beyond individual residences.

Through its combination of wellness facilities, landscaped retreats, social clubs, and precinct-wide amenity, AURA represents a shift toward a more comprehensive model of vertical living, one where shared spaces play as significant a role as the homes themselves.

[smartcode_project_cta:default project_id=151921]

AURA elevates amenity living at Melbourne Square

Builder-developer Scion is the latest to target Sydney's booming Hills Showground Metro precinct, filing plans for more than 100 apartments within walking distance of the station.

Scion has lodged a concurrent rezoning and State Significant Development Application for <a href="https://www.apartments.com.au/new-apartments/27-33-middleton-avenue-castle-hill-nsw-2154">27–33 Middleton Avenue</a>, where it plans to replace four existing homes with an 11 and 14-storey mixed-use development comprising 109 apartments, six affordable housing dwellings, and a ground-floor café.

Designed by BHK Architects, the proposal includes three levels of basement parking with 174 spaces, more than 1,200 sqm of communal open space, and extensive landscaping across the 3,791 sqm site.

The development has been designed as two buildings connected by a recessed wintergarden spine, with the 14-storey building positioned to the south and the 11-storey building to the north.

<img alt="Scion" data-entity-type="file" data-entity-uuid="64dc359d-736b-43b8-87a8-70a8285cab47" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-25%20at%208.47.01%E2%80%AFPM.png?VersionId=PXh.m8id_aevBPHEckPf88wQ2RQThPos" />

The apartment mix has been weighted towards owner-occupiers, with 13 one-bedroom apartments, 55 two-bedroom residences, 31 three-bedroom apartments, six three-bedroom lofts, and four four-bedroom homes. Six apartments will be dedicated as affordable housing in line with the NSW Housing SEPP.

According to the Architectural Design Report by BKH, the proposal seeks to create "a place-responsive architecture" inspired by the natural landscape surrounding Cattai Creek, while strengthening the public domain through landscaping, active frontages and a neighbourhood café.

Atlas Urban, in its Urban Design Report, says the proposal takes a different approach to increasing density around Hills Showground Station by favouring a more slender, vertically articulated built form over a conventional mid-rise outcome. The report argues this allows for greater deep soil planting, improved solar access and a better public domain outcome, while still delivering additional housing close to rapid public transport.

The site sits around 500 metres from Hills Showground Metro Station, within a precinct earmarked for significant residential intensification following the opening of the Sydney Metro Northwest line. Planning documents accompanying the application note that Greater Sydney's population has grown by more than one million people since planning for the precinct first began, reinforcing the need to accelerate housing delivery around existing transport infrastructure.

Scion is expanding its development pipeline which also includes <a href="https://www.apartments.com.au/new-apartments/chatham-west-ryde-2-6-chatham-road-west-ryde-nsw-2114">Chatham in West Ryde</a>, 62 apartments which are approaching completion. They also have a State Significant Development Application with the NSW Government's Housing Delivery Authority for <a href="https://www.apartments.com.au/new-apartments/96-anzac-avenue-west-ryde-nsw-2114">145 apartments on Anzac Avenue</a>, also in West Ryde.

First look: Scion plots Castle Hill apartment development near Hills Showground Metro Station

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>&nbsp;has unveiled its scaled-back plans for a pair of towers rising up to 49 storeys directly opposite Bella Vista Metro Station.

The builder-developer will deliver 674 apartments and a new mixed-use hub at the gateway to the station precinct.

The State Significant Development Application has been lodged under the Housing Delivery Authority pathway for the 6,979 sqm site at <a href="https://www.apartments.com.au/new-apartments/9-11-mawson-avenue-bella-vista-nsw-2153">9-11 Mawson Avenue</a>, with the apartments sitting above a mixed-use podium. Initial plans were for closer to 900 apartments across two 40-storey towers.

Located around 30 metres from the Bella Vista Metro Station entrance, the development is intended to act as a catalyst for the long-planned Bella Vista Station Precinct, transforming a vacant site into a transit-oriented residential and commercial destination.

Planning documents describe the project as delivering "a high-density mixed use destination that combines housing, retail and community-serving uses in a highly accessible setting."

<img alt="First look: Urban Property Group plans 674-apartment Bella Vista towers opposite Metro station" data-entity-type="file" data-entity-uuid="21c08216-589e-490d-ad08-2d88b6fa62d9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bella%20vista%20podium.png?VersionId=3TnwjjQCNwTsmyQRaWnFrLTSAF0CJeka" />

Designed by <a href="https://www.apartments.com.au/architects/turner-studio">Turner</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, the project comprises 674 apartments, including 102 affordable housing dwellings representing 15 per cent of the residential floor space. The housing mix spans studios, one, two and three-bedroom apartments, alongside a collection of townhouse-style residences integrated into the podium levels. The development also includes specialist disability accommodation and an elevated provision of adaptable and liveable housing.

The mixed-use podium has been designed to create an active urban centre around the Metro station, incorporating a 1,423 sqm supermarket, a 3,029 sqm gym, specialty retail spaces, a 100-place childcare centre and a publicly accessible "city room" community space. A secondary laneway, active frontages and landscaped public areas are intended to improve pedestrian connectivity through the site and strengthen links between the station precinct and surrounding neighbourhood.

In the project's design report, Turner said the proposal responds to Bella Vista's emerging role as a higher-density centre within Sydney's north-west growth corridor.

"The project transforms a strategically located site into a high-density mixed use destination that combines housing, retail and community-serving uses in a highly accessible setting," the report states.

"Active frontages, a publicly accessible city room, a secondary laneway and a mix of uses including a local supermarket, child care centre and gym create a more complete and socially useful urban environment for residents, workers and the wider community."

<img alt="First look: Urban Property Group plans 674-apartment Bella Vista towers opposite Metro station" data-entity-type="file" data-entity-uuid="0fde6220-82de-4f6a-9b63-d0fd8157acc9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bella%20vista%20da.png?VersionId=7hEmuSutH8plTd_RqqdmPu055F6qe554" />

Urban Property Group has been one of the busiest developers across Greater Sydney this year.

The developer is progressing around 1,000 apartments across <a href="https://www.apartments.com.au/news/nsw/first-look-urban-property-group-plans-next-major-wollongong-tower">two projects in Wollongong</a>, with several thousand more homes in the pipeline across Newcastle, Castle Hill, Little Bay and Penrith.

Jonathan Chancellor

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