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First home buyers are defiantly still in the Gold Coast market place but due to upward pressure on demand and prices some have been priced out of the market or are waiting for things to cool off.
Meanwhile Sydney buyers are taking advantage of their increased equity in a strong Sydney market and purchasing in a cheaper Gold Coast market, according to the local valuation firm, Herron Todd White.
"While this is placing upward pressure on demand, local buyers can still enter the northern Gold Coast corridor market due to building costs having been fairly stable and land values in this area only increasing marginally," the HTW reported noted.
First home buyers are competing with the investor market, however typical investors often have higher points price points. 
"Generally the central Gold Coast is becoming quite heated and is now a sellers’ market with properties selling quickly and buyers competing to secure deals. 
"This is currently putting significant upward pressure on values.
"Investors are clearly winning with many not having to get finance pre approval."
The report points out that many interstate and Chinese buyers are buying house and land packages on the northern Gold Coast for investment purposes.
"There is enough englobo land and new estates getting developed in the northern corridor to cater for the increased demand from both first homebuyers and investors.
"Investors are winning the race in central Gold Coast but in the northern corridor we believe first home owners are still competing with the inflow of funds from investors.
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"In Gilston there have been recent increases in activity for house and land packages both to local first home buyers and non local investors.
"In general the non local investor is paying more both for the land and for the building contract.
"For example two sites in the same estate recently sold.
"The first was to a non local investor who for $476,500 purchased 146 square metres of living area in a 4-bedroom; 2-bathroom house with double garage on a sloping 600 square metre block.
"The local for $473,000 purcahsed a more level 700 square metre site with a 213 square metres of living space, 4-bedroom house with double garage without landscaping or fencing.
"In this instance the local was a clear winner. However the land cost was higher due to non-local investor activity," the report concluded.
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Overall HTW suggested first home buyers were fairly active throughout the Gold Coast, "however the confidence and expectations have taken a hit" in recent times due to the strong market.
"For example take a standard 4-bedroom, 2-bathroom house in a suburb such as Ashmore or Parkwood.
"If this sort of property was placed on the market about 12 months ago for say $450,000, then you would expect moderate interest with maybe one or two offers 5% below the asking price in a one to two month period after listing.
"Now however one could list that same property for $475,000 and you would expect a lot of interest with multiple offers very close to the asking price within two to three weeks of listing."
HTW said while grants were helping first home buyers and those that build, HTW believe that under the current framework the values of typical grants are often lost by over inflated developer land sales. 
"However the grants available do assist first home owners and without them we would see a fall off in demand in places such as the northern Gold Coast where many first home owners are now buying and building.
"The first home buyer market will be stimulated by greater employment opportunities and higher salary levels in the area from improvement in local economy.
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jchancellor-FAypfDUnLy

Sydney investors sometimes being outsmarted by locals in Gold Coast property purchases: HTW

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Former Foster's boss Trevor O'Hoy is planning to sell his Brighton property at auction this month.
The downsizing couple O'Hoy and his wife, Jenny bought the property from the builder, David McCallum.
It now comes with a putting green.
It will be auctioned May 31 having been available at private treaty earlier this year through JP Dixon. Chris Carrington from Nick Johnstone Real Estate is quoting <a href="https://www.realestate.com.au/property-house-vic-brighton-116875379" target="_blank">$1.9 million-plus</a> for his auction.
It is a three-bedroom, two-storey home.
More than $1.9 million is expected for 42 Roslyn Street which has been their home since paying about $1.5 million when listed in 2003 through Buxton.
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Trevor O'Hoy lists Brighton home with putting green

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Bowral's Chateau Blondel, the French-inspired sandstone home of antique dealers Gary and Maryanne Nolan, has finally sold.
It was sold pre-auction, price undisclosed, on its recent auction marketing campaign through estate agents <a href="https://www.ballardproperty.com.au/Selling/recentsales/residentialdetail.aspx?id=WOOLLAHRA%202012118&amp;wlid=fbeafe75-a114-4ad4-bae9-5331323c00d1" target="_blank">Bill Bridges</a> and <a href="https://www.ianrayner.com.au/search/display.aspx?ln=1893258" target="_blank">Ian Rayner</a>.
More than $4 million was being sought this time around for the house which was constructed in 2000 after the block was bought from Eukarima School.
Title Tattle gleans it was bought by Canberra buyers for around $3.5 million.
Back in 2006 Title Tattle recalls the seven-bedroom, 17th-century French chateau-styled residence was for sale with a $7.9 million asking price.
From the entry to the 5.7-hectare property through 300-year-old cast-iron gates, the carriageway leads up to the porte-cochere.
With its walls 450mm deep from 4000 tonnes of quarried stone, the residence covers 975 sq m, with three state rooms, baroque dining hall, seven bedrooms and three bathrooms.
I also recall there were grazing English Suffolk sheep and alpacas in the frost-bitten grounds of the Centennial Road property that overlooks the nearby Centennial Vineyards.
The house name apparently dates back to an ancestral link to Jacques-Francois Blondel, Louis XV's architect.
Berrima antiques dealers Maryanne and Gary Nolan were inspired by the work of French interior designer Jacques Garcia. 
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Bowral's Chateau Blondel finally sells

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Three of the six apartments in The Block Sky High block in South Melbourne are currently available for rent.
The offering includes the second floor apartment renovated by indie-pop duo Matt and Kim and the third floor apartment renovated by the Melbourne couple, Bec and George.
Designed by architecture firm Brenchley Architects, the building at 142 Park Street in South Melbourne is a conversion from a 1960s motel building. It comes with with shared rooftop entertainment facilities.
The furnished apartments are pitched at the corporate relocation market.
The second floor (pictured in the gallery above), full floor 220 square metre has a $1600 weekly asking price through <a href="https://www.realestate.com.au/property-apartment-vic-south+melbourne-413099191" target="_blank">Lina D’Ambrasio at City Residential Real Estate Docklands</a>.
It has three double bedrooms all with ensuites.
Its large German styled kitchen with Caesar Stone tops, German integrated appliances, double oven and butler’s pantry.
The 201/142 Park Street, South Melbourne apartment has electronic blinds throughout and a television in every room.
The apartment at 301/142 Park Street (pictured below) - undertaken by Bec and George in the 2013 series of The Block Sky High - has also become available <a href="https://www.realestate.com.au/property-apartment-vic-south+melbourne-413029435" target="_blank">at $1,600 a week </a><a href="https://www.realestate.com.au/property-apartment-vic-south+melbourne-413029435" target="_blank">rental.</a>
<img src="/images/2014/05/15/south%20melbourne%20may%2015%20two.jpg" alt="" style="line-height: 1.3em;">
It is listed through Arlette Humphry at Interface Property Group Armadale.
<a href="/news/south-melbourne-block-sky-high-penthouse-available-for-1-600-weekly-rental">Last July Property Observer wrote</a> that the penthouse apartment - Trixie and Johnno's renovation -  had been listed for rent.
The fully furnished apartment sold at $1.605 million at its televised late July 2013 auction <a href="https://www.hockingstuart.com.au/UNIT_501_142_PARK_STREET_SOUTH_MELBOURNE_VIC_3205_RENTAL" target="_blank" style="line-height: 1.3em;">was offered at $1,600 a week</a>, reflecting a 5.1% gross rental yield.
<img src="/images/2014/05/15/south%20melbourne%20may%2015%20three.jpg" alt="">
 
At the time South Melbourne had a 5% indicative gross rental yield, according to RP Data.
It was rented through Hocking Stuart Albert Park agent Adam Pali, whose agency had secured the auction sale above its initial $1.41 million reserve.
The third apartment currently for rent was the garden apartment which was renovated during the final week challenge, and then retained by the Watercress production company.
It has a $1,450 weekly asking price <a href="https://www.realestate.com.au/property-apartment-vic-south+melbourne-413086599" target="_blank">through Dingle Partners leasing agent Daniella Ferraro</a>.
The other five apartments sold on The Block: Sky High grossed $7.603 million on auction day collectively, with Adelaide sisters Alisa and Lysandra selling the winning apartment.
<a href="/news/just-4000-hammer-price-difference-with-entertainment-the-winner-of-the-block-sky-high-auction-results">It was the narrowest of victories </a>for the Adelaide sister contestants Alisa and Lysandra who now are thinking of becoming professional interior designers after winning the most profit in the 2013 Block Sky High apartment auctions.
<div>
Their win came after a $4000 difference between the top sale under the hammer and the second highest sale - apartment 5's Trixie and Johnno securing a $1.605 million sale and apartment 4's Madi and Jarrod who secured $1.601 million.
And then there was another $4000 difference between the winners, Alisa and Lysandra being $295,000 over their amended reserve and the runner-up couple, Madi and Jarrod, $291,000 over their reserve.
The Block Sky High auction sale prices:
<ul>
<li>Apartment 5 Trixie &amp; Johnno – $1.605 million</li>
<li>Apartment 4 Madi &amp; Jarrod – $1.601 million</li>
<li>Apartment 3 Bec &amp; George – $1.507 million</li>
<li>Apartment 2 Matt &amp; Kym – $1.455 million</li>
<li>Apartment 1 Alisa &amp; Lysandra – $1.435 million</li>
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The profit amount over amended reserves:
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<li>Trixie &amp; Johnno – $205,000</li>
<li>Madi &amp; Jarrod – $291,000</li>
<li>Bec &amp; George – $242,000</li>
<li>Matt &amp; Kym – $250,000</li>
<li>Alisa &amp; Lysandra – $295,000 plus $100,000 overall prize</li>
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Three of the six Block Sky High, South Melbourne apartments for rental

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Luci Ellis, the head of the RBA's financial stability department, hopes Australians can see an upswing in housing prices in the larger metropolitian centres and say, ‘I don't have to buy into that. I don't have to stretch my finances’.
Not that Australian household finances are looking too stretched at the moment.
"And we'd like to see it stay that way," Luci Ellis said.
Her speech to the CITI Residential Housing Conference noted that the 15 years to 2005 saw housing prices rise noticeably faster than incomes.
"This was in large part a transition to a new equilibrium of lower inflation and interest rates, and thus higher debt and housing prices relative to incomes. That transition is over now. Housing prices are therefore going to be cycling around a slower trend than they did in the past. There will be more periods where prices are falling a little in absolute terms," she said.
The means that there was "less scope for rising markets to cover mistakes if you fall in love with a property and overpay for it".
"It means there is little room for another round of property exuberance of the type we saw just over a decade ago, in 2002 and 2003. Australia managed to have its housing boom end without a major disaster. Plenty of other countries weren't so lucky.
"Usually it's the property developers that are the source of loan defaults and financial instability, not the households with mortgages. But an overstretched household sector is hardly a good environment to have if something should go wrong elsewhere in the economy.
"That is why the Reserve Bank and the Australian Prudential Regulation Authority (APRA) have emphasised loan serviceability so much of late."
She commented that lenders had become more sophisticated in the ways they assess households' capacity to repay mortgage loans.
"Most of them have moved beyond a crude approach of applying a blanket repayment-to-income test, more likely to take people's actual living expenses into account, not just some version of the Henderson Poverty Line. After all, it doesn't seem reasonable to expect people to have a poverty-level lifestyle to pay off a million-dollar home.
"Importantly, lenders are now more likely to apply an add-on to current interest rates when calculating the repayment they use in their serviceability tests. 
"It's fair to say that serviceability calculations are binding for first home buyers and less binding for trade-up buyers and investors. So it's no surprise that as interest rates have fallen, it's the trade-up buyers and investors whose demand has increased.
"Meanwhile first home buyers will feel squeezed out. This is probably more a cyclical phenomenon than a structural one. It is still probably quite disheartening for potential first home buyers.
"As such, it would not be a good outcome if they responded by overstretching themselves to try to get into the market during upswings."
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Disheartened FHBs warned not to overstretch home loan borrowings: RBA's Luci Ellis

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Brisbane still seems relatively affordable amongst the capital city rivals, according to valuers, Herron Todd White.
"Everyone out there is waiting for it to really start kicking in – particularly beyond five kilometres from the CBD," their latest report suggested.
"It feels like our turn after the gun market runs of Sydney and Melbourne," it added.
 The outcome falls firmly upon the shoulders of the first home buyers looking for options in south east Queensland.
"They’ve been less present of late compared to the end of last year," the May report noted. 
The first home buyers are likely to secure a typical single level home priced under $500,000 since HTW has detected suburbia is increasingly hip. 
Their advice is in the southern suburbs of Brisbane to look towards the eight to 15 kilometre band.
"For example, Moorooka is getting a name for itself amongst the young and typical 1950s three bedroom, one bathroom dwellings of average condition below $600,000 will find suitors."
<a href="/news">Moorooka's median unit price</a> sits at $377,750 and $507,500 for houses, according to RP Data.
New apartment offerings include <a href="https://www.realestate.com.au/property-unit-qld-moorooka-115792551" target="_blank">Canopy 11</a> (pictured below) due for completion mid 2014 with prices starting at $340,000 with first home buyer able to get the $15,000 grant.
<img src="/images/2014/05/15/marooka%20may%2015%20three.jpg" alt="">
<a href="https://www.realestate.com.au/property-unit-qld-moorooka-116376599" target="_blank">The cheapest unit offering</a> (in the building picture below) is seeking $225,000 plus for a one bedroom.
<img src="/images/2014/05/15/marooka%20may%2015%20one.jpg" alt="">
The cheapest house is $375,000 for a three bedroom fibro and tiled roof cottage on 685 square metres at<a href="https://www.realestate.com.au/property-house-qld-moorooka-116571591" target="_blank"> 374 Beaudesert Road</a> (pictured below).
<img src="/images/2014/05/15/marooka%20may%2015%20two.jpg" alt="">
Mid-ring investors are active in the same pockets as first home buyers, particularly Mount Gravatt where there is quite a bit of proposed development with an increase in infrastructure in coming years.
Entry-level investors are looking closer in, according to HTW.
Investors are active with detached houses up to $600,000 and in inner city units too – particularly interstate and international buyers. 
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Moorooka pinpointed as Brisbane awaits first home buyers: HTW

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Phil Naylor has announced his intentions to resign as the chief executive officer of the Mortgage and Finance Association of Australia, taking effect 24 December.
No successor has been appointed after Naylor’s 12 years in the job.
After being at the Australian Retailers Association, he started in 2002 when the MFAA was known as the MIAA, a trade association with 2,200 members.
In 2006 the Mortgage Industry Association of Australia broadened its charter and changed its name to the Mortgage and Finance Association of Australia.
The MFAA has almost 11,000 members.
He championed uniform broker legislation.
He said getting "the rogue mortgage broker off the front page of the news" as one of his most significant achievements by cleaning up the industry along with regulators.
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Phil Naylor to exit MFAA in December

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Hume Coal says it hasn't been stumped by the unhelpful decision of the NSW Resources and Energy department, but admits it has now been forced into reconsidering how it will proceed with the controversial Sutton Forest, South Highlands coal exploration application.
“This decision does not impact current studies including mine planning, environmental assessments and community consultation programmes as the project continues to move towards the formal planning process,’’ Hume Coal project director, Greig Duncan advised locals.
"The project is currently considering how it will proceed with the application,” Mr Duncan said by press release.
The NSW director of environmental sustainability ruled this week that Hume Coal will be required to undertake an environment impact study for its Sutton Forest mining exploration application as it was "likely to significantly affect the environment".
The decision, made under delegation from the Minister for Resources and Energy (DRE) Anthony Roberts, was interpreted by Property Observer as a significant victory against the South Korean company mining plans for the scenic South Highlands locality.
The government decision was official recognition of the concerns of the local resident activists, who have included actor Nicole Kidman and singer Keith Urban.
The South Korean-backed Hume Coal mining company emerged in 2011 as the $8 million buyer of a beef cattle farm virtually on the doorstep of <a href="/expert-insights/investing/nicole-kidman-now-has-cockatoo-coal-as-her-near-neighbours-after-mining-giant-pays-record-price-for-sutton-forest">Nicole Kidman’s peaceful Sutton Forest retreat, Bunya Hill</a>.
The celebrity couple <a href="/news/nsw/nicole-kidman-and-keith-urban-join-anti-coal-protesters-in-nsw-southern-highlands">hung a protest placard on the gates of their $6.5 million Southern Highlands retreat</a> that condemned coal mining in 2012.
<a href="https://www.propertyobserver.com.au/new-south-wales/coal-mine-anxiety-for-nicole-kidman-s-sutton-forest-property/2011062150555" target="_blank" style="line-height: 1.3em;">Kidman was among 424 land owners</a> in the 115-square-kilometre exploration area who were advised in 2011 that 120 test exploration holes would be drilled to check on the size of the coal offerings.
Three years on the latest proposed drilling of up to 90 coal exploration boreholes has been determined as "likely to have a significant impact on the environment," the departmental determination ruled yesterday. 
"DRE is generally concerned that the intensity of the proposed exploration drilling may lead to a significant impact or cumulative impact on the Sutton Forest community."
The report noted the Office of Agricultural Sustainability &amp; Food Security (OASFS) assessed the activity as a medium risk to agriculture due to the amount of drilling across a broad agricultural landscape with sensitive receptors. 
OASFS also identified further agricultural issues of concern as there was little detail on the remediation for any loss of water resources for agriculture. 
Influential 2GB broadcaster Alan Jones said after reporting the departmental decision that it was important to "stop this mob of vandals in their tracks".
"Minister Roberts ...he's not without some guts," he said.
Hume Coal says the decision of the department requests additional environmental assessments to determine the company’s proposed phase three exploration program or for the company to amend the original application.
“The current REF 3 proposal was designed to provide certainty for the community by including the balance of our planned exploration activities together in a single approval document," Mr Duncan suggested.
Hume Coal said their reading of the department's assessment report concluded their exploration was unlikely for there "to be significant impacts on land, flora, fauna or water as a result of the proposed drilling.
"Despite this we have been asked to conduct a more detailed environmental assessment or amend our original application before resubmitting," a seemingly peeved Mr Duncan argued. 
Mr Duncan made no comment on the DRE noting concern that the Phase 3 exploration activity added to the two previous exploration campaigns occurring in recent years may could lead to "a significant cumulative socio- economic impact on the local community."
"Specifically, the intensity of exploration drilling proposed in the REF (i.e. 90 holes) is considered to be a substantial impost on the local community given that the exploration is proposed to occur in a minor portion of the Authorisation area and over a time period of five years.
"It is considered likely that landholders subject to exploration will be significantly affected by a significant number of drill holes occurring on properties of a small to medium size," the DRE report noted.
Photo courtesy of Kate Ausburn/Flickr/<a href="https://creativecommons.org/licenses/by/2.0/" target="_blank">Creative Commons</a>.
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Hume Coal unhappy at Sutton Forest, Southern Highlands EIS requirement

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Demolition has begun on the Wolseley Road, Point Piper mansion owned by the son of a former vice-president of China.
Craig-y-Mor, the Point Piper non-waterfront residence owned by Zeng Wei and his wife, Jiang Mei, no longer sits proudly intact, high on the hill overlooking Sydney Harbour with picture postcard-perfect views of the Sydney Harbour Bridge and Opera House.
The grand 1920s house (pictured this morning) with renovations by Professor Leslie Wilkinson was initially bought just in his wife's name, as was an earlier acquisition - a $1 million apartment in the World Tower block in Liverpool Street in the CBD in 2005.
The house cost $32.4 million in 2008 making it Sydney's most expensive demolition. It will be replaced by a $5 million Gergely &amp; Pinter designed house.
The 2008 purchase, which ranked as the third highest in Sydney at the time and the priciest non-waterfront holder, was made just in the name of Jiang Mei. Quietly during 2009, the name of the Wei Zeng was subsequently added to the title. The knowledge of that coupling created subsequent intrigue and speculation, then confirmation of the unknown prominence back home of the owners.
<img src="/images/stories/wolesleyarchitect.jpg">
Architect's impression: Gergely &amp; Pinter Architects
It all came to the fore in late 2009 when the couple were seeking its demolition, to be replaced by a $5 million new home (architect's impression above), so they were both named for the first time in the then much anticipated end-of-year Sydney Morning Herald Title Deeds Christmas party column.
It quickly sparked speculation in Chinese internet chatrooms - despite their names being published in an incorrect order and the restrictions on Baidu, the Chinese internet search engine.
The web was soon alive with chatter linking Wei to his father, Zeng Qinghong, the former vice-president of the People's Republic of China between 2003 and 2008, and once one of the most powerful men in the Chinese Communist Party.
The elder Zeng, long the right-hand man to former President Jiang Zemin, was a member of China's peak political body, the Politburo Standing Committee, for five years and before that headed the powerful Organisation Department, which is responsible for deciding who gets which political posts.
The couple won planning approval on Christmas Eve 2010.
<img class="img-responsive" src="/images/stories/flexicontent/l_craigymor.jpg" alt="Point Piper on the Chinese tourist route for insight into the privileged lives of Communist Party princelings ">
<a href="/expert-insights/investing/point-piper-on-the-chinese-tourist-route-for-insight-into-the-privileged-lives-of-communist-party-princelings">Property Observer wrote in late 2011</a> there was a new addition for sightseeing Chinese tourists when they visit Sydney.
Not just cuddly koalas and the Opera House – they have added driving along Wolseley Road, Point Piper for a glimpse of the $32.4 million property owned by a son of a former vice-president of China, according to a Wall Street Journal report.
The Chinese couple bought the Point Piper non-waterfront residence for a then Australian record of $32.4 million from the businessman Ben Tilley, who bought the Wolseley Road house for $16.15 million in 2004 from the stockbroker Rene Rivkin and his wife, Gayle. 
The Chinese couple had been keen to buy Villa de Mare, also on the Point Piper hillside, but negotiations with the recruitment entrepreneur Julia Ross failed to proceed to exchange in 2007.
Craig-y-mor is on a 1,100-square-metre block.
The Rivkins bought Craig-y-mor from the former Patrick stevedores chief, Chris Corrigan, and his wife, Valerie, for $10.7 million in 2001.
The Corrigans bought it in 1991 for $7.14 million from the developer Gary Rothwell who had subdivided the then 2600-square-metre estate which had been the home of the mining tycoon Roy Hudson who left his estate to his stepson, the London-based venture capitalist David Archer and wife Vicki.
<div>Wilkinson was commissioned in 1962, to undertake additions and alterations costing 16,800 pounds for Roy Hudson who bought in 1960 from the Davies/Jackaman family who had it built in 1910.</div>
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Chinese leadership princeling demolishes Point Piper's Craig-y-Mor mansion

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The former world motorcycling ace Mick Doohan has sold his Tallebudgera Valley holding which went to auction last August.
<a href="/expert-insights/buying/mick-doohans-tallebudgera-valley-property-passed-in">Passed in on a seller's bid of $1 million</a>, and later listed at $1.375 million, the 65 hectare two-title Tallebudgera Valley property fetched $1.15 million.
It was marketed by John Natoli from McGrath Estate Agents who secured the Gold Coast hinterland sale last month.
Doohan bought in 1996 for $855,000.
The larger lot, at 1332 Tallebudgera Creek Rd, included a two-bedroom caretaker's cottage with workshop.
The smaller lot, at 1368 Tallebudgera Creek Rd, measuring 7,057 square metre vacant land.
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Mick Doohan sells Tallebudgera Valley, Gold Coast hinterland holding

<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] 
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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."

[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.

[smartcode_project:default project_id=140755 project_image_fid=354809]

The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

[smartcode_project:default project_id=140755 project_image_fid=366267]

The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

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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.

[smartcode_project:default project_id=151921 project_image_fid=367468]

Beyond the internal amenity, AURA introduces a series of Japanese-inspired gardens that form a quieter counterpoint to the tower’s social spaces.

Landscaped retreats feature curated outdoor dining, tranquil courtyard seating, fire pit, and a tea house pavilion. Rather than functioning as simple recreational areas, the gardens have been designed as places for reflection and informal gathering, drawing on principles of balance, nature, and calm that underpin the project's broader design philosophy.

[smartcode_project:default project_id=151921 project_image_fid=367810]

The social amenity continues to evolve as residents move higher through the building. Levels 49 and 50 house the Meridian Club, where a lounge bar, conservatory spaces, and private dining rooms take advantage of elevated city views. At the summit of the tower, the exclusive Cumulus Club spans Levels 66 and 67, offering additional lounges, private dining, and meditation and treatment rooms positioned above Melbourne’s skyline.

For OSK Property, the extensive amenity offering reflects a broader focus on wellbeing as a core component of apartment living rather than an added feature.

“Aura stands tall as an exemplar of holistic wellness – its focus on social, physical and mental health culminate in a building that is calming, restorative and relaxing, where residents will have their own sanctuary within the well-connected and sought-after Southbank,” says OSK Property CEO Chong Boon Woon.

[smartcode_project:default project_id=151921 project_image_fid=367796]

AURA’s amenity strategy extends beyond the tower itself through its integration with the wider Melbourne Square precinct.

Residents will have direct access to Kennedy Park, Southbank’s 3,745 sqm landscaped public park, alongside a full-line Woolworths supermarket, childcare centre, hospitality venues, and approximately 1,600 sqm of additional retail planned within AURA’s lower levels. Together, these elements create a highly connected residential environment where daily needs, recreation, and wellness are woven into the fabric of the community.

[smartcode_project:default project_id=151921 project_image_fid=370253]

As Melbourne’s apartment market continues to mature, developments are increasingly judged by the lifestyle they provide beyond individual residences.

Through its combination of wellness facilities, landscaped retreats, social clubs, and precinct-wide amenity, AURA represents a shift toward a more comprehensive model of vertical living, one where shared spaces play as significant a role as the homes themselves.

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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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