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Lower interest rates and a slowing house price growth have prompted housing affordability to be at its most favourable level in 12 years, according to the latest Housing Industry Association-CBA Housing Affordability Index. 
The index for the March quarter shows housing is 10.8% more affordable than a year ago.
The HIA senior economist, Shane Garrett said the index improved by 2.1% during the first quarter of 2014.
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“The RBA has signalled that interest rates are set to remain low for some time,” added Shane Garrett. “As home price pressures ease off, we expect home owner affordability to remain reasonably favourable for the foreseeable future,” predicted Shane Garrett.
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jchancellor-FAypfDUnLy

Housing 10.8% more affordable than a year ago: HIA

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100 Roscoe Street, the 1930s Bondi investment rental semi, has been sold for $2 million by landscaper Will Danger. It had been listed at $1.8 million through Debbie Donnelly at Phillips Pantzer Donnelley. 
Last traded for $1,287,500 in mid-2012, its interior and gardens have had a subsequent transformation.
Set 300 metres from the beach, the sea-blue painted three bedroom, two bathroom property comes with garage on its 260 square metre block. 
All three bedrooms are doubles with the main having an ensuite. The decor was by Robert Plumb.
It has been <a href="https://staybondi.com.au/bondi-100/" target="_blank">a lucrative rental</a>.
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Will Dangar's landscaped Bondi 100 investment rental at Bondi sells pre-auction

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Mirvac Group has secured four residential development projects across Sydney, Melbourne and Brisbane totalling $144.2 million, on mostly delayed settlement terms.
“These acquisitions significantly restock our residential development pipeline and will provide long-term earnings benefits from FY16 onwards," Mirvac's managing director, Susan Lloyd-Hurwitz said.
"They sit within our directional mandate to acquire apartments in the inner ring and masterplanned communities in infill ring locations, and highlight our capacity to source and secure off-market opportunities in key locations."
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There was the purchase of an inner ring residential site in Waterloo, with the potential to deliver 250 residential apartments and 1,000 square metres of retail space. It is subject to FIRB approval.
Then inner ring residential site in Brisbane is located in south Brisbane with city and river views. The development has approved planning for a two staged apartment project of 329 lots across two towers, and will comprise one and two bedroom offerings. The project is expected to contribute to earnings from early 2017.
Settlement of the acquisition will occur in two stages, with stage one expected in mid-2014 and stage two expected in mid-2015.
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Mirvac has also purchased a property off Raby Road, Catherine Fields, 60 kilometres south-west of Sydney’s CBD within Sydney’s South West Growth Centre region. The 87 hectare site has the potential to deliver up to 600 lots. 
Altona North is the location of the Victorian acquisition. It is an 11.5 hectare infill site in Blackshaws Road, Altona North, with the potential to deliver 260 lots, subject to planning approvals.
Mirvac has appointed Brett Draffen to the newly created position of chief investment officer.
Brett Draffen had previously been the company’s chief executive development and group strategy.
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Mirvac grabs four off-market residential project sites with 1,400 dwelling potential

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Four consortia have been shortlisted to develop a six-star multi-billion dollar integrated resort development at Queen’s Wharf Brisbane.
<ul>
<li>Crown Resorts Ltd</li>
<li>Echo Entertainment Group Ltd</li>
<li>Far East Consortium/ Chow Tai Fook Enterprises Ltd</li>
<li>Greenland Investment Pty Ltd.</li>
</ul>
In October last year the Queensland government decided a gaming licence would be available for the under-utilised nine hectare government-owned site adjacent to the north bank of the Brisbane River.
The shortlisted companies will be required to lodge fully-developed proposals with the government in late 2014.
A formal announcement regarding the successful developer and their development scheme is not expected until early 2015.
{qtube vid:=V_Eiiyy8ec4#t=56}
Crown Resorts Ltd
One of Australia’s leading integrated resort and casino operators with international joint-ventures and associated gaming and hospitality interests.
Extensive domestic experience developing, owning and operating integrated resort development (IRD) casinos including:
<ul>
<li>$3.7 billion Crown Melbourne, Southbank urban redevelopment</li>
<li>$850 million Crown Perth refurbishment</li>
<li>$2 billion (planned) Crown Sydney.</li>
</ul>
Echo Entertainment Group Ltd
One of Australia’s leading integrated resort and casino operator with substantial presence in domestic market.
Domestic IRD casinos include:
<ul>
<li>$870 million Star Sydney upgrade (2008-2012)</li>
<li>Treasury Casino and Hotel Brisbane</li>
<li>Jupiters Casinos and Hotels in Townsville and the Gold Coast (planned $345 million refurbishment).</li>
</ul>
Far East Consortium/ Chow Tai Fook Enterprises Ltd
International hospitality and mixed-use property developer/operator with some domestic development experience in Melbourne and Perth.
Notable large scale developments include:
<ul>
<li>$3.3 billion Trump Place, New York City</li>
<li>$1.2 billion Hong Kong Convention and Exhibition Centre</li>
<li>$1.2 billion 250 Spencer St, Melbourne integrated residential, retail, hotel and public realm development.</li>
</ul>
Greenland Investment Pty Ltd 
Fortune 500 Chinese state-owned international large scale mixed-use property developer.
Notable projects include:
<ul>
<li>400 hectare Greenland Nanchang activity centre urban redevelopment</li>
<li>$1 billion 82 hectare Zhengzhou Greenland Central Plaza activity centre and transport hub</li>
<li>$680 million Greenland Centre Sydney residential tower.</li>
</ul>
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Crown versus Echo again, with Greenland and Far East also seeking Brisbane Queen's Wharf project

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Stockland has upped its Australand offer to $4.35 per security.
<a href="/expert-insights/investing/australand-dismiss-stocklands-takeover-attempt-as-incomplete">Stockland’s first $2.4 billion offer in April</a> for the diversified property developer equated to around $4.20 a security, or around $2.5 billion. It was rejected by Australand. 
Stockland <a href="/expert-insights/investing/stockland-swoops-on-australand-stake-in-possible-takeover-precursor">purchased a 19.9% stake in Australand</a> in March.
“This compelling final offer represents a substantial premium against a range of measures and would bring together two high calibre companies with complementary assets and cultures," the Stockland managing director, Mark Steinert, suggested.
"The combined group would be the leading residential developer in Australia, including medium density, the leading owner and manager of shopping centres in regional locations and a top two logistics and business park owner/developer.”
The latest proposal to Australand security holders reflects:
<ul>
<li>22.2% premium to Australand's NTA;</li>
<li>18.0% premium to the price at which CapitaLand sold (and institutional investors purchased) 20% of the outstanding securities on issue on 21 November 2013;</li>
<li>16.9% premium to the price at which CapitaLand sold (and institutional investors purchased) 23.4% of the outstanding securities on issue on 19 March 2014; and</li>
<li>A 12.1% premium to the volume weighted average price ('VWAP') of $3.88 for the three month period up to and including 18 March 2014, the day prior to Stockland acquiring an interest in 19.9% of Australand.</li>
</ul>
As an alternative form of consideration, Stockland is prepared to offer a reduced scrip ratio, together with a cash component up to an aggregate of $250 million, with the structure to be agreed with the Australand Board.
"We have made this final offer following dialogue with Australand," Mark Steinert said.
Stockland reconfirmed its <a href="/expert-insights/investing/stockland-well-placed-to-deliver-earning-growth">guidance of 6% EPS growth in FY14</a>, assuming there is no material decline in market conditions and targeted 5% annual average EPS growth through the cycle. 
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Stockland finally ups Australand offer to $4.35 per security

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The celebrity chef Bill Granger - who retains two restaurants in Sydney, along with four in Japan, and in London's Notting Hill and Clerkenwell - has opened Bills Sydney in Hawaii. And his next outlet opening will be Seoul in June.
<a href="https://www.billshawaii.com" target="_blank">It is a rustic-chic beach house in Waikiki</a> that opened last month.
The trademark creamy scrambled eggs that put him on the culinary map are available at 280 Beachwalk Avenue.
It's between the Hilton and Westin in low-level contemporary <a href="https://www.thebeallcorporation.com/projects/280_beach_walk/BW_1_DSC_1495" target="_blank" style="line-height: 1.3em;">building</a> (pictured above) that also houses the Hard Rock Cafe in the two-story 30,519 square foot retail building.
Located at Waikiki’s west side, Honu Group’s retail development is close to the Fort DeRussy Reservation.
<a href="https://www.thebeallcorporation.com/pdfs/280_beach_walk-brochure.pdf" target="_blank">2006 stats showed a daily US$202 expenditure by Oceania visitors</a> which Bills will be seeking some of the spend especially from those who know of his fare.
"I only open where I’m inspired; something about the place and lifestyle needs to speak to me," he recently said.
"Honolulu is my favourite type of beach town - urban.
"I had no idea how vibrant the food scene was; I’ve been inspired by the tropical produce and fusion of Vietnamese, Japanese and indigenous cuisines (with a bit of Brooklyn thrown in).
"The menu includes nods to these local dishes, plus all the bills classics and pizzas piled with fresh healthy toppings," he says.
He is not the only Australian in the complex as CBRE's Andrew Starn secured <a href="https://www.bizjournals.com/pacific/news/2013/06/12/pacific/search/results?q=Andrew%20Starn" style="line-height: 1.3em;"></a>tenants including Le Blanc Art with the Australian-born artist Shane Bowden. The other tenants include Akakura, a high-end shoe store, 24 Karat, a Japanese surf shop and the Rome-based women’s clothing and accessories boutique Brandy Melville.
Title Tattle recalls Bill Granger got his training at the iconic La Passion du Fruit on Paddington's Oxford Street after hailing from Melbourne.
Granger opened the original bills in the Sydney suburb of Darlinghurst in 1993, when he was 22.
His Queens Court, Woollahra restaurant recently closed, replaced by the vibrant Luxe.
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Bills of Sydney rides wave of international success to Waikiki, Hawaii

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Car sharing club GoGet has partnered to provide up to 44 car share vehicles in the $2 billion Central Park complex on Broadway in Sydney.
The joint-venture developers, Frasers Property and Sekisui House, have sensed the global trend with the newest batch of inner city residents re-assessing the way they integrate personal vehicles and public transport into their lives.
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Vehicles, including hatchbacks, wagons, vans, utes, Yaris, Audis and 8-seater people movers will be available at <a href="https://www.centralparksydney.com" target="_blank">Central Park</a>.
Frasers Property Australia CEO Guy Pahor welcomed Australia’s largest GoGet SuperPod with cars available to the 1,000 plus residents, along with Chippendale locals.
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Frasers Property has been a longtime supporter of the carpooling initiative, having introduced a 10 car share pod at its Trio development in Camperdown in 2009.
“The considerable environmental benefits that the GoGet car share scheme brings, through less congestion on the roads and less car trips, contribute to the world-leading sustainability agenda of Central Park.”
He noted that buyers are driven by price points, with investors deciding sometimes that a car space does not add more to the value of the apartment.
“What drives the value of the apartments is the social and physical infrastructure within walking distance from Central Park.”
The cost of a car space in Central Park is about $75,000.
GoGet co-founder Bruce Jeffreys says <a href="https://www.goget.com.au/pod/1189/" target="_blank">the largest cluster of car share vehicles in Australia</a>, allowed motorists to select a car to fit their mood or errand.
When completed, Central Park, at Broadway, at the south of the city, will have 2,200 apartments and more than 5,000 residents.
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Not all apartments will have parking spaces, with around half currently having a space allocated to their unit.
“Increasing numbers of urban dwellers are living in the city without a car,” GoGet chief executive Tristan Sender said.
This reflected a drop in car ownership and an increase in car sharing among Sydney residents.
With enthusiasm from Clover Moore's town hall, the city saw around a 20% increase in car share spaces in the past year to 589 on-street parking spaces for car-sharing services, up from 489 spaces in April 2013. The City of Sydney aims to have 10% of all households using car sharing programs by 2016.
GoGet allows consumers to book a car by the hour, with costs ranging from around $6.35 to $9.90 an hour. The company has more than 1,300 vehicles in Australia with 1,110 of those in Sydney.
GoGet members pay a monthly fee, using the phone or internet to book and then a smartcard to unlock the vehicle.
GoGet was founded seven years ago and now has almost 50,000 members of which 36,000 are in NSW.
An wtart-up called Car Next Door, based at the Fishburners start-up hub in Ultimo, has emerged but does not own the cars in its network. It facilitates neighbourhood car sharing where car owners earn money by renting out their car to members on the network. The owners set a price per hour/day with Car Next Door taking a 25% stake.
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Go Get car share for Central Park inner city residents

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New South Wales – for the first time in a decade – has replaced Victoria as Australia’s biggest home building state in the current financial year, according to the Housing Industry Association.
The HIA forecasts around 50,000 dwellings have commenced ­construction in NSW, compared to around 47,000 in Victoria.
<img src="/images/2014/05/28/hia-may-28-one.gif" alt="">
Source: Housing Industry Association.
The last time NSW built more homes than Victoria was in 2003/04. Western Australia is also driving the new home building recovery, also at decade highs of around 27,000 starts. 
The HIA expects NSW to remain the nation’s biggest home builder for the rest of the decade, with Victoria to have annual declines to around 42,000 starts in 2016. Victoria's peak was 60,000 new starts in 2010.
The HIA forecasts the pace of the residential construction recovery to accelerate with a 10% rise in housing starts this financial year reaching 180,000 commencements led by NSW, Western Australia and Queensland.
<img src="/images/2014/05/28/hia-may-28-two.gif" alt="">
Source: Housing Industry Association.
But HIA chief economist Harley Dale while activity at current elevated ­levels will remain, further fast growth faces capacity ­constraints. Starts are expected to dip to 175,000 next year.
Dr Dale said the post GFC period has been a challenging one for new home building. 
"Stimulus measures employed to combat the GFC provided an initial recovery in new dwelling commencements from a historically low level of only 132,000.
"However, the recovery only lasted four quarters during which commencements increased by 25% during the 2010 calendar year. 
"As the effects of the stimulus began to wane, a second wave of new home building weakness took hold.
"This saw a decline in commencements in both 2011 and 2012.
"As it turned out, the magnitude of the subsequent rebound (which began in mid-2012) gathered considerable pace, especially in the second half of 2013.
"Record low interest rates have unlocked pent-up demand at a faster pace than first looked likely," he said.
The latest ABS data, released in mid-April, provided a preliminary estimate of 168,300 new dwelling commencements in calendar year 2013, which represents an increase of 11% on the previous year.
"HIA’s forecast had been for a rise of 8% to 164,400.
"Early last year, a range of forecasts for 2013 commencements across the forecasting community was centred on a level of 150,000 and the highest forecast was for 160,000," Dr Dale said. 
He added the high level of building observed nationally in 2013 could not have been achieved without such a strong contribution from Victoria, driven by healthy numbers of multi-unit dwellings.
"We maintain our view that the elevated level of new home building in Victoria, driven by the multi-unit segment, is likely to transform into a potential point of weakness over the near term, although to a lesser extent than our previous forecast implied.
"Upward momentum gathered through 2013 in both Queensland and South Australia and this was also a helpful development.
"While momentum is expected to continue carrying activity levels higher in Queensland, the softer labour market conditions in South Australia are likely to provide a head wind." 
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Victoria loses residential building crown to NSW: HIA

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The first Australian building designed by North American architect Frank Gehry has had some of its brickwork unwrapped at the University of Technology, Sydney. 
<a href="/expert-insights/building/frank-gehry-uts-building-unwrapped-as-lend-lease-wins-construction-rights">Billed as Sydney's most distinctive project since the Opera House</a>, it consists of 320,000 brown bricks, all laid by hand.
Likened to a crushed paper bag by some, though Property Observer's inspection yesterday didn't leave that initial or lasting impression, nor the supposed tree house likeness. More like an urban sandcastle.
The award winning architect also says they are buff coloured bricks.
"The east facing facade is made of a buff colored brick similar in color to the Sydney (heritage) sandstone," <a href="https://www.uts.edu.au/partners-and-community/initiatives/city-campus-master-plan/projects-progress/dr-chau-chak-wing" target="_blank">Gehry advised on the project website</a>. 
"The form of this facade curves and folds like soft fabric. 
"The brick will be set in horizontal courses and will step or corbel to create the shape. 
"The texture of the surface will be rough and will emphasize the mass of the material. 
"The shape flattens as it wraps around the north and south corners.
"Large windows punch this facade."
The section on Mary Ann Street and Omnibus Lane, Ultimo has been exposed after recent work by the construction giant Lend Lease won the bid to build the landmark undulating building.
The initial Austral bricks were deliver to the site last August after being manufactured in Bowral by the Brickworks Ltd subsidiary. Austral, which dates back to 1908, custom-made five brick types for the building’s exterior. Master bricklayer Peter Favetti came out of retirement for the project, noting the Gehry building was the most difficult ever undertaken in Australia.
.The 12-storey building is being built on the former Dairy Farmers site between the ABC Ultimo Centre and the Powerhouse Museum.
<a href="/expert-insights/building/frank-gehry-s-first-australian-building-approved-for-university-of-technology-sydney">It will be named after Dr Chau Chak Wing</a>, a Hunters Hill, Australian-Chinese businessman who donated $20 million for its construction and $5 million for scholarships.
Its a $180 million project, according to the UTS vice-chancellor, Ross Milbourne. The new building is part of a UTS campus master plan, estimated to cost a total of $1 billion.
Most of the brick work is very intact, although Property Observer spotted where some rectification is required, but hardly worth making a headline out of it. 
The bricks sit on top of a steel substrate constructed according to Gehry's design.
The Gehry Partners LLP team worked with a local team, including architect Daryl Jackson Robin Dyke and façade contractor Sharvain. 
<img src="/images/stories/2012/11/gehr1.jpg">
It's a $180 million project, according to the UTS vice-chancellor, Ross Milbourne. The new building is part of a UTS campus master plan, estimated to cost a total of $1 billion.
Construction of the tower for around 1,300 students and more than 300 academic staff had an early 2014 completion timeline, but that seems pushed out to at least September.
The crumpled-looking 15,470 square metre building will be the university's new business school. But it will undoubtedly be an attraction to many passersby when then new pedestrian thoroughfare linking Darling Harbour and Central Station running through Pyrmont and Ultimo, the Goods Line is completed. The Goods Line is modelled on the now iconic High Line, which is one of the fun activities I enjoy when visiting New York.
<img src="/images/stories/2012/11/gehr2.jpg">
Gehry, who was reportedly unperturbed by the paper bag comparison, has described the building's internal structure as being like a "tree house", designed to encourage a sense of "creative play".
It will include parking for 177 bicycles and 20 cars, with onsite showers and lockers.
The new building will generate its own electricity with a gas-fired tri-generation plant, an initiative backed by the City of Sydney.
<img src="/images/stories/gehry.jpg">
"The design of this building is extremely complex," says the managing director of Lend Lease's project management and construction business in Australia, Murray Coleman.
"The result will be an exciting building, the likes of which has never been seen before in Sydney." 
He said they have used state-of-the-art construction methods including building information modelling to deliver the project.
Additional project team members included AW Edwards (early works contractor); AECOM (services engineer); Arup (structural engineer, transportation and traffic); RPS (statutory planner); Casey &amp; Lower (archaelogical consultant); Godden Mackay Logan (heritage assesssment); Morris Godding Accessibility (accessibility consultant); Wind Tech Consulting (wind assessment); and AECOM (ecologically sustainable development).
The first recorded use of the word "buff" to describe a colour was in the London Gazette of 1686, describing clothing. 
{module From what we can currently see, do you find Frank Gehry's building facade impressive?}
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Frank Gehry's Sydney UTS building bricks exposed: Buff, brown or crushed paper bag?

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The prolific author Deborah Abela and her television director partner Todd Decker secured $950,000 for their Glebe weatherboard cottage.
The couple are trading up to a nearby $1.32 million Darghan Street Victorian terrace.
They bought their two-bedroom Colbourne Street cottage for $600,000 in 2005.
It has the tiniest of office/study off the living room. Her books for children include the <a href="https://www.deborahabela.com/site/Max_About" target="_blank">Max Remy Superspy</a> series.
<a href="https://www.realestate.com.au/property-house-nsw-glebe-116836215" target="_blank">McGrath's Michael Glynn</a> had hopes of $900,000-plus ahead of the scheduled weekend auction.
Abela worked in the script department of Southern Star, the television production house, then the kids' show Cheez TV as a producer and writer before leaving in 2001 to write full-time.
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Max Remy Superspy author on the move - upgrading in Glebe

<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.

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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.

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"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."

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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."

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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."

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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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