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Businessman Paul Ehrlich and his wife Lauren secured a bullish $10.1 million for their palatial Vaucluse home, highlighting the price resurgence of inland Vaucluse mansions.
It had been listed for auction last night, first with hopes of $8.5 million, then $9 million plus, but three Australian/Chinese buyers pushed the price into double digit million territory.
<a href="https://www.raywhite.com/nsw/vaucluse/1133320/" target="_blank">The three-storey Towns Road mansion</a> dates back to the architect Harold Finger who built it around two decades ago.
He sold it in 1996 for $4.28 million to Oriental Technologies Investment vice chairman Laurence Luo-Lin Xin.
The Ehrlichs bought it for $4.1 million in 1999. They met at Maccabi squash in 1983.
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Bidding opened at $8.7 million, with auctioneer James Keenan calling it on the market at $10 million, when it was subsequently knocked down to the opening bidder.
Set on 1200 square metres, the six-bedroom residence comes with a tennis court, indoor and outdoor pool and rooftop terrace with Sydney Harbour views.
It sold through Ray White Double Bay agents Elliott Placks and Ashley Bierman.
Last year close to 50 houses sold above the <a href="/news">2013 Vaucluse suburb median</a> of around $3.1 million as increased sales activity signalled the emerging signs of momentum. The median was once $3.8 million in 2011.
The top three harbourside properties sold at $14 million, $15 million and $19 million, but it is arguable that the resurgence hasn't yet got to the waterfront homes. 
The Singapore-based BRW rich lister Brett Blundy has yet to his Kutti Beach home, but secured around $7 million on his neighbouring non-waterfront home. 
Rag traders Nick and Susie Kelly bought last year from nautical engineering entrepreneur Philip Goymour and his wife, Tanya, setting the highest price for the year at $19 million on Kutti Beach.
But the mainland Chinese buyers appear to prefer inland with King Chu and Xiaoyi Zhu spending $15 million when they bought the Vaucluse Road, Vaucluse home of John and Mary Andrews from the Haverick Meats family mid-last year, some two years after its listing.
Australian cricket captain Michael Clarke recently bought his inland five-bedroom home for around $8.3 million. 
Lawyer John Williamson-Noble, a partner at Gilbert+Tobin, and his wife Renee, sold their Coolong Road home earlier this year at $6.5 million, having been listed last September with $6.5 million-plus hopes through McGrath's Hamish Robertson.
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jchancellor-FAypfDUnLy

Bullish $10.1 million under the hammer Vaucluse trophy mansion sale

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Chateau de Benelong, the distinctive Bellevue Hill palazzo residence, didn't sell when auctioned last night through agents Michael Finger and Diane Wilson of Ray White Double Bay. 
Over $5 million was being advised to potential buyers initially, and it was passed in at $6.2 million.
Title Tattle spotted just the two Australian/Asian bidders at the auction where bidding began at $5.5 million.
<a href="https://rwdbgroup.com/nsw/bellevue-hill/1129729/" target="_blank">Chateau de Benelong</a>, the private palazzo commands sweeping northerly harbour views from its grand columned terraces.
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With its multiple arches, columns, balustrades and detailed decorative exterior adornments including cherubs, lions' heads and a central courtyard fountain, the seven bedroom house has stood out from the crowd since 1977, when it was built by designer Lesley Santy.
Santy, who won a gold medal in the 1957 international furniture exhibition in Milan, designed the building for the Levy family.
It last sold at early 2012 auction at $4,995,000 sale through Michael Finger.  <a href="https://www.propertyobserver.com.au/new-south-wales/columned-chateau-with-21st-century-interiors-at-bellevue-hill/2011080951100" target="_blank">It was initially listed</a> with unrealistic $7.5 million hopes in late 2011.
The Benelong Crescent property had been renovated after trading for $3.67 million in 2009.
It comes with eight bedrooms, including a two-bedroom apartment.
The vendors Lynda Giang-Nguyen and Nhi Nguyen bought it in early 2012 from Nare Elio and Makedonka Del Ben, who run a building company called Big Dig Pty Ltd.
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Bellevue Hill's Chateau de Benelong fails to sell

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Ian Macfarlane, the governor of the Reserve Bank of Australia from 1996 to 2006, doesn’t think there's an Australian housing bubble.
"We do have an affordability problem, it makes it tough for young people to acquire a house in a desirable area.
"This is characteristic of every major city in the world that has desirable job opportunities. London, Paris, Berlin, New York, Hong Kong, Singapore," he told the recent Morningstar Investment Conference where he was asked his views on a potential residential property bubble in Australia.
"I think we faced a risk in 2003, not 2014. In 2003, we had lending for housing and prices rising at 20%, half of it speculative lending, negatively geared. 
"There were seven prime time television programmes on how to get rich in property.  Since then, on average, house prices have risen at the same rate as household income.
"For that reason, I don’t think we have a bubble," he said as reported by the <a href="https://cuffelinks.com.au" target="_blank">cufflinks </a>website.    He said the affordability problem was partly due to negative gearing making it tough for young people to acquire a house in a desirable area.
"Some of our policies make that worse, such as the extreme leniency we show towards negative gearing, but I don't think there is a bubble." 
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No Australian housing bubble, but negative gearing-induced affordability issues: Former RBA governor Ian Macfarlane

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Art gallery owner Rob Gould’s South Yarra home has been listed for sale with $5.5 million plus hopes.
But the Scott Redford sculpture 'My Beautiful New Polar Bear' in its courtyard, landscaped with limestone tiles and architectural grass trees, is not included.
It's a modern, white-washed abode behind its ordinary classic Victorian facade.
Renovated by architect John Wardle, it has hovering floors that float above indoor water features. 
The four-bedroom early 1900s Park Street semi has been <a href="https://www.23parkstreet-southyarra.com/" target="_blank">listed by Marshall White agent Marcus Chiminello</a>.
It's all on a modest 379 square metre block.
Wardle restored the formal reception rooms at the front of the house and retained original architraving, lead-light windows and ornate ceiling roses, while furnishing the rear of the property with floating ceilings, walls and walkways, and long, clean walls which provide hanging space.
The gallery owner’s art collection features works of Charles Blackman and Sidney Nolan.
Chiminello says some buyers had expressed interest in buying the artworks.
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<div class="premGallery">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. </div>
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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>
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Art dealer Rob Gould's South Yarra home offering - polar bear not included

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The House Rules contestants Adam and Lisa wanted wallpaper.
But they got more than they bargained for, especially with the controversial choice of bottle top wallpaper in the dining room which seriously clashed the rest of the house.
Today, our property contrarians Jonathan Chancellor and Margie Blok discuss wallpaper - and while they don’t mind the odd layer, they certainly don’t favour wallpapering the whole house. 
HE SAID:<img src="/images/2014/03/28/jc-silhouette-7.jpg" style="float: right;">
I’m okay with wallpaper making a statement, but only if used sparingly or as a feature on one wall.  
Generally, wallpaper works best in rooms needing a lift, perhaps a poky second bedroom or a plain bathroom - such as the delightful Vivienne Westwood wallpaper in a bathroom of the Castlecrag mid-century home (pictured below). The property was sold by interior designer Tina De Salis and her husband Edward for $3.01 million in 2012<a href="https://www.randw.com.au/506596/" target="_blank"> through Mark O'Brien of Richardson &amp; Wrench Castlecrag &amp; Northbridge</a>. 
 <img src="/images/2014/05/30/castlecrag-may-30-one.jpg" alt="">
Wallpaper took off in a big way during the 1920s. In this 'Golden Age of Wallpaper', more than 400 million rolls were sold as an affordable and mass-produced alternative to expensive silk and tapestry wall coverings.  
These days, snazzy wallpapers can be an inexpensive solution for jazzing up an original Art Deco bathroom – my preference is the Florence Broadhurst Cockatoos design in black and white (pictured below).
<img src="/images/2014/05/30/Florence-Broadhurst-Wallpaper-Black-Cockatoo-design-wall-may-30-one.jpg" alt="">
The Sydney designer Greg Natale is a strong advocate for Florence Broadhurst wallpapers which initially shot to prominence during the 1960s and 1970s when used by leading decorators of the day, including the late design doyen, Leslie Walford.  
Featuring rich colours, metallic finishes and vigorous designs, the hand screen-printed wallpaper collection was revived during 1990s by David and Helen Lennie, owners of Signature Prints, who drove the business exponentially while establishing the Florence Broadhurst name internationally. 
<img src="/images/2014/05/30/Florence-Broadhurst-in-Art-Deco-Bathroom-may-30-one.jpg" alt="">
While Natale’s Hollywood-style interiors have been splashed across the pages of interiors magazines including Belle, his distinctive decorating style also featured in Inner West Courier real estate pages during late 2012 when <a href="https://www.realestate.com.au/property-house-nsw-five+dock-111968655" target="_blank">Laing + Simmons Drummoyne agent Frank Colacicco was marketing</a> a Five Dock house that subsequently sold for $1.34 million. Love the art deco tiles (above) in the bathroom, but the wallpaper is a little over the top. Ditto the wallpapered bedroom (below) doesn't appeal to me, cushions, bedhead and side tables included.
<img src="/images/2014/05/30/Florence-Broadhurst-wallpaper-in-Five-Dock-house-may-30-one.jpg" alt="">
For Margie Blok's opinion click through to the next page below.
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<img src="/images/2014/03/28/mb-silhouette-6.jpg" style="float: left;">SHE SAID:
In my book, the old adage of “less is more” should be heeded when using wallpaper – and in one or two rooms only.
If House Rules contestants, Lisa and Adam, had mentioned “subtle and calm” instead of “wow statement in every room”, then the renovation of their home could have ended up without that nightmare reveal of clashing wallpapers in the open-plan living and dining areas. 
 <img src="/images/2014/05/30/HOUSE%20RULES%20BOTTLETOP%20WALLPAPER.jpg" alt="">
Photo courtesy of Channel 7.
When it comes to choosing wallpaper, DIY renovators should exercise restraint and err on the side of caution, rather than express gaudy evidence of their personal taste in every room. 
Wallpaper should be used as part of a fundamental framework of an overall decorative scheme. It should form the background of a room, not the foreground. For subtle sophistication and a visually rich effect, opt for classic wallpapers with a strié or grasscloth finish.
Given the extraordinary range of wallpapers on the market, it can be confusing to pick the right style and shade for a particular room. While you might lust after a Florence Broadhurst wallpaper spotted in a magazine or admire the wallpaper in a Kit Kemp-designed Firmdale hotel in London, or, it doesn’t mean these will work well in your home. 
<img src="/images/2014/05/30/Kit%20Kemp%20desinged%20room%20at%20The%20Dorset%20Hotel%20London.jpg" alt="">
If you’re uncertain about the type of wallpaper to use, peruse the <a href="https://www.houzz.com" target="_blank">Houzz website</a> - it’s a terrific visual springboard for decorative and architectural ideas. 
Or engage an interior designer to sort it out for you – especially if you don’t have the time and energy to do the choosing, measuring and ordering associated with wallpapering and redecorating.
OTHER HE SAID/SHE SAID COLUMNS YOU MAY BE INTERESTED IN:
<a href="/expert-insights/building/designer-chicken-coops-for-the-fussiest-of-fowls-he-said-she-said">Designer chicken coops for the fussiest of fowls: He Said/She Said</a>
<a href="/expert-insights/investing/a-frame-houses-do-they-work-he-said-she-said">A-Frame houses, do they work? He Said/She Said</a>
<a href="/expert-insights/investing/do-australian-homes-need-the-formal-dining-room-he-said-she-said">Do Australian homes need the formal dining room? He Said/She Said</a>
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The wallpaper house rules in home decorating: He Said/She Said

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Westfield shareholders attending today's afternoon meeting to vote on the controversial corporate restructure of both shopping centre groups never got to vote.
Just before 4.30pm the final Westfield Retail Trust vote for Westfield’s restructure was deferred.
A possible fortnight timeline for another meeting has been outlined, Bloomberg reported. 
There had been a strong chance that the entire proposal was set to fail after the proxy vote came in at 74.1% to endorse the Scentre Group Merger proposal, given it was short of the 75% needed.
This morning’s meeting saw 97.2 per cent of shareholders vote in favour of the restructure which involves estimated $500 million transactional costs.
Since Westfield unveiled the restructure in early December there has been growing vocal opposition to the deal from Westfield Retail ­investors, who felt the price for the management platform was too high and the deal was inequitable for Westfield Retail security holders.
A few weeks ago Property Observer reported that <a href="/expert-insights/investing/westfield-group-improves-trust-merger-terms">Westfield Group had succumbed to shareholder pressure</a> and announced it will be improving the terms of its proposed merger for Westfield Trust unit holders by $300 million.
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The members of the Westfield Group Board attending today, included directors resident overseas - John McFarlane and Lord Peter Goldsmith from London, Roy Furman from New York and Peter Lowy from Los Angeles.
The Age columnist Malcolm Maiden reported the background to the deferral as being a consequence of Westfield Group chairman Frank Lowy's warning on Thursday morning that Westfield would independently split into separate Australian and international companies if the Westfield-managed Westfield Retail Trust voted down its more sweeping $70 billion restructure plan.
It allowed the Westfield Retail Trust chairman Dick Warburton to suspend WRT's meeting, in part, because the WRT board believed that Mr Lowy's warning was a ''material change''.
The Australian columnist John Durie told Ross Greenwood's Money News on 2GB that he expected the deferral will allow the Lowy's enough time to secure the final approval.
 
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Deferred, not defeated, the Lowy's retreat on Westfield restructure proposal

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All the big life changes have merged for James Mathison into the same scenario. Job issues, new baby and shifting home.
But the dumped breakfast TV presenter James Mathison held his nerve to knock back $1.11 million when his Bondi apartment went to auction this week, just days after the official cancellation of the Network 10 breakfast show Wake Up.
The Confidential column of the Daily Telegraph came across the listing by Mathison and partner Carlie Fowler who were hoping for $1.2 million for the two-bedroom two-bathroom apartment.
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Thankfully the Henderson Street offering through Ray White Woollahra did sell post-auction the next day, achieving the desired $1.2 million for the Bondi Vue apartment. <a href="https://www.raywhite.com/nsw/bondi/1129146/" target="_blank">The website says </a>the apartment is under offer.
They paid $1.06 million in 2012 after James sold his Clovelly apartment for $700,000. The often sardonic Mathison, last spotted by Title Tattle MC-ing an REIV event, had bought the apartment for $630,000 in 2008, in his Australian Idol co-hosting days.
The couple, parents to one-year-old daughter Luca, are expecting their second child in December.
The News Ltd report says the couple are upsizing to a three-bedroom property in the eastern suburbs.
Property Observer gleans they had the apartment available for lease recently at $1,050 a week.
Mathison remains under contract to Channel 10.
The 206 square metre apartment comes with a 111 square metre courtyard.
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Expectant redundant James Mathison sells Bondi apartment

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Devine’s second-largest shareholder Lyn Brazil has criticised the national property development company for not taking advantage of Australia’s booming property markets.
Lyn Brazil, who owns 9% of the listed residential developer, voted against Devine’s remuneration report at the company’s annual meeting in Brisbane on Wednesday.
But some of the most pointed criticism was directed at the largest shareholder, the contractor Leighton Holdings.
“As we all know with Leighton as majority shareholder they pull the strings, but they have been asleep at the wheel and let all this happen,” Mr Brazil reportedly said.
The company sells new homes mostly in South East Queensland, but is little known for its Victorian, South Australia and NSW ventures, having only had the one press release highlighting buyer opportunities this year, and three since last May on its website.
The Devine masterplanned communities across Melbourne include Eden Brook at <a href="/news">Pakenham</a>, Parks Edge at <a href="/news">Cranbourne</a>, Stonehill at <a href="/news">Bacchus Marsh</a> and Pennyroyal at <a href="/news">Kurunjang</a>. In Adelaide there is Orleana Waters, at<a href="/news"> Evanston Gardens</a>. 
Founded in 1983, Devine's apartment projects in Brisbane have seen 3,000 apartments valued at more than $1 billion sold since 1993, after its prior ownership and management by David Devine who left Devine Limited, which still bears his name, in 2010.
Sales at the 111-apartment project, DoubleOne3 located in the prestigious riverside suburb of Teneriffe, are due to be settled by in June. 
Devine announced in late 2012 that it would re-enter the NSW market, after securing an option on an 86 dwelling, 5,900 square mete site in <a href="/news">Turramurra</a>, heralded as possibly its first project in NSW for nine years. But it was subsequently sold off as a development site. They have since bobbed up exchanging contracts on a 2.25 hectare site in Parramatta, expected to yield over 350 apartments. 
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Devine is proposing to build a $180 million staged development with several multi-storey buildings on Morton Street, Parramatta with an existing joint venture party. The project is expected to launch in January 2015 with construction to commence the following year. 
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As at 30 June 2013, Devine’s land and apartment development pipeline included the equivalent of 13,700 future dwellings.
Leighton, which owns 50.6%of Devine, had to provide a $50 million partial guarantee of Devine’s debt ­facility last year, after the Brisbane-based developer booked a loss and downgraded guidance.
“If we look at the opposing property development companies they are ­getting good profits,” the Australian Financial Review reported Brazil telling the annual general meeting
He said Devine's results that were “disappointing, dismal and damning”.
“I don’t have any inspiration or any confidence in the team, so from my point of view you should sell the company or sell the assets and give the ­capital back to shareholders,” Mr Brazil said.
Shares in <a href="https://www.devine.com.au" target="_blank">Devine</a> are tracing at 72¢, less than half its net tangible assets.
Devine chairman Peter Dransfield said he understood Mr Brazil’s views.
The company was now on track to deliver a profit before tax of between $7 million and $10 million for the full year ending December 2014.
The company had sold off $110 million in development sites, mostly in Brisbane, the Devine chief executive David Keir said. It sold a parcel of undeveloped land in North Brisbane for $14 million to private developer QM Properties this month. Last December Queensland property developer Sir John Pidgeon acquired Devine Limited’s Camelot site on Albert Street in the Brisbane central business district.
“Some challenges still remain in selected markets, with uncertain job security impacting on consumer confidence, and some regional markets currently enduring cyclical lows,” David Keir explained.
“We are carefully monitoring these areas and continuing investment is based on appropriate levels of pre-sales before construction commitment is made.”
Last year Morningstar’s Tony Sherlock blame the postcodes of Devine's property projects along with the difficulty of clearing backlogs, especially in stubborn pockets of negative equity, for its dire status.
Peter Dransfield has only been on the Devine board since April 2010 having previously held senior positions with Australand, Walker Corporation, Multiplex Group along with being the director of housing for the NSW Government.
Kier joined Devine as chief executive officer in March 2010 and was appointed managing director in April 2010 having previously been CEO of Delfin Lend Lease where he joined in 1994.
Devine’s board includes former Queensland Treasurer Terry Mackenroth who has been on the board since 2005..
The board saw two Leighton directors retire at the annual meeting, after seven years, replaced by another two Leighton directors, Ian Frost and Jeff Cummings.
 
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"Dismal" Devine Limited attacked by shareholder for missing the housing boom

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The end of the financial year is almost here, so it’s time to do your tax return. Or perhaps undertake some strategies that save on the tax payable.
Apart from the usual receipts and items claimable by property investors, there are deeper tips and reminders suggested by tax advisors in advice to their private clients. 
<ol>
<li>
Now might be the right time to consider refinancing your home. Do this before the end of the financial year, and the cost and saving could affect the tax payable. But be aware a clear accounting link between the initial mortgage to acquire the property, and the refinanced amount, must be maintained if you wish to offset the interest paid on the investment mortgage. Best be wary of refinancing and including home and investment properties under one mortgage, which may cause ATO red flags, so best check with your accountant before any refinancing.
</li>
<li>Capital losses incurred in any financial year are available to be carried forward to future financial years for an indefinite period if there are insufficient gains to absorb it in the same year. Capital losses cannot be offset against other income such as business trading income if you've made a capital gain. With just a month to go, it might be too late to review your property portfolio to see whether it is worth realising a capital loss to offset the gain. You can't carry losses back.</li>
<li>The 50% discount on capital gains is available where an asset is held for longer than 12 months. Remember the relevant date for calculating capital gains is the contract date, not the eventual date of property settlement.</li>
<li>If you have a geared investment it is worth considering pre-paying next year's bank interest to gain an immediate tax deduction benefit in the 2013-2014 year.</li>
<li>Get a deduction now by pre-paying next year's income protection insurance premiums.</li>
<li>Bring forward expenditure to before 30 June, if you are planning on repairs on your property, though note care should be taken in determining whether a maintenance or repair is deductible or if it is considered a renovation or of a capital nature.</li>
<li>Check on the depreciation claim of the property and its fittings, any repairs or maintenance you have undertaken, any management fees or rental losses throughout the financial year, all taken into consideration in calculating your tax deduction. </li>
<li>Use debt recycling strategies, pooling much of your cashflow through an financial institution offset account to reduce your total annual interest payable. </li>
</ol>
Obtaining sound financial, taxation and investment advice is highly recommended in order to implement any of the above strategies. 
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Eight tax tips for end of financial year property investment planning

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The most powerful woman in finance in Australia, Gail Kelly has been ranked 56th most powerful women in the world, by the latest Forbes list.
Leading Westpac, Australia's oldest and second largest bank with $651.4 billion in assets and more than 36,000 employees, Kelly moved up from 62nd place in the 2013 most powerful woman in the world list.
<a href="https://www.forbes.com/power-women/#tab:overall_page:6" target="_blank">Forbes noted Kelly</a>, not quite satisfied when she met her goal -- two years early -- of having women fill 40% of top managerial positions at Westpac, that she recalibrated the target. 
"Now she aims for half of the bank's top managers to be women by 2017, the same year that it celebrates its 200th anniversary.
"Gender equality isn't the only benchmark to rise under her leadership this year, either. 
"The bank's net profit climbed to $3.36 billion in the six months through March from $3.05 billion a year earlier."
In 2013 Forbes wrote she’s the pinup girl for corporate Australia in a country where the dearth of female executives heading big companies causes much angst.
Back in 2010 the annual Forbes magazine list of 100 powerful women saw Ms Kelly improve her ranking from 18th to eighth.
She debuted in 2008 as the 11th most powerful woman in the world, the year that Ms Kelly became the CEO of Westpac.
Westpac could soon be the first Australian brand to launch ads on Facebook's premium video ads product with the bank talking up the power of the medium, according to Adnews..
Australia's wealthiest person, mining magnate Gina Rinehart, ranked 27th this year, after achieving 16th place on last year's list.
Julia Gillard was in 28th place on last year's list, but out of the top 100 in 2014.
The German Chancellor, Angela Merkel, has been named the world's most powerful woman for the fourth year in a row.
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Westpac's Gail Kelly moves up to 56th place on Forbes most powerful women list

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
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<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

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Joel Robinson

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

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.

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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.

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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."

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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.

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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.

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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."

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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.

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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.

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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.

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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.

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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.

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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.

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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.

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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.

Jonathan Chancellor

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