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<p>A penthouse spanning levels 25 and 26 of the Aria highrise in Broadbeach on the Gold Coast has had its asking price reduced to $3.5 million.</p>
<p><a href="https://robastbury.com.au/projects/2501-aria/" target="_blank">It has been on the market</a> since April last year.</p>
<p>The penthouse, which features 270 degree views of the Gold Coast beach, skyline and hinterland, was initially listed with $4.2 million hopes through Ray White Broadbeach agents Aydan Mullin and Rob Astbury, who left behind a career in television for real estate.</p>
<p>Its asking price was reduced from $3.85 million to $3.5 million last month.</p>
<p>The north facing 580 square metre, including a roof top balcony with private swimming pool and sauna.</p>
<p>The penthouse features four bedrooms and four bathrooms.</p>
<p>Astbury has advised potential buyers the penthouse had been empty for 85% over the years.</p>
<p>It comes with floor to ceiling glass windows that envelop the open plan living and dining areas, with an eight to ten metre high ceiling in the atrium, allowing  natural light to filter through the apartment.</p>
<p>The bathrooms feature Italian Black Vein Marble tiles.</p>
<p>The penthouse has a 15 metre lap pool.</p>
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jchancellor-FAypfDUnLy

Aria, Broadbeach penthouse price reduction

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<p>Aussie Home Loans executive chairman John Symond fears an overly tough budget could "knock the wind out of the sails" of consumer confidence.</p>
<p>"<span style="line-height: 1.3em;">We have seen consumer confidence only very slowly improve.</span></p>
<p>"We don't want a kick in the guts with a budget that is too tough,"</p>
<p>"It could slow the economy down," he told Ross Greenwood on <a href="https://www.2gb.com/article/money-news-ross-greenwood-may-6th#.U2l-xFxK4Us" target="_blank">2GB MoneyNews</a>.</p>
<p>John Symond says he foresees more of the same when it comes to interest rates.</p>
<p>"I am not convinced there was a bias either way," he said on the RBA thinking.</p>
<p>"There are mixed signals in the economy and in the global economy."</p>
<p>"There may be stable rates for months to come," he suggested.</p>
<p>His comments on consumer confidence followed <span>the weekly ANZ-Roy Morgan consumer confidence pulse which was down around 8% over the past two weeks.</span></p>
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John Symond fears fallout from overly tough federal budget

<html><body>
<p>Celebrity chef Matt Moran has spent close to $1 million to buy an off the plan Brisbane apartment in Sunland’s Abian tower.</p>
<p>Matt Moran secured a two-bedroom, two-bathroom low rise apartment in the 40-level tower which overlooks the city’s botanic gardens.</p>
<p>Moran controls two restaurants in the city, hence his decision to buy into the <span>curvilinear, pewter glass tower</span>.</p>
<p>Moran told The Weekend Australian the fourth floor apartment could be an investment property in the future, but he is visiting Brisbane most weeks.</p>
<p>It’s close to the restaurants, Aria Brisbane and Riverbar and Kitchen on Brisbane’s Eagle Street Pier.</p>
<p>It was late 2009 when the 2067 square metre French Quarter development site was bought from Devine for $24.88 million, with an anticipated 2013-2014 construction completion date. It was in 2006 when the l<span style="line-height: 1.3em;">isted property group Devine Limited completed its aggregated site in the Brisbane CBD for $22.7 million.</span></p>
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<div class="layoutArea">
<div class="column">
<p><span>The amalgamation of the 2,067 square metre site on the corner of Alice and Albert Streets involved securing the 23 units in the Carrington apartment complex and contracting to buy an adjoining vacant site at 140 Alice Street. </span></p>
</div>
</div>
</div>
<p>Some 110 apartments of the 147 in delayed landmark Abian tower quickly only sold earlier this year at a $1.6 million average with its penthouses and a two-level 1200 square metre sky villa still available for purchase at $16 million.</p>
<p><a href="https://www.sunlandgroup.com.au/property/abian-botanic-gardens/" target="_blank">Construction of Abian</a>, which is adjacent to Quay West on Alice Street, is due to start mid-year, with a reported 2017 completion.</p>
<p>The Sunland apartments will feature hand-applied gold leaf on the ceilings of its public spaces, 24-hour concierge, plunge pools, treatment rooms as well as Turkish baths.</p>
<p>RP Data recently reported the values of Brisbane’s premium unit market had increased 4.5% over the 12 months to the end of February, the strongest growth of any unit market segment in Brisbane</p>
<p>“There’s huge pent-up demand, particularly for luxury apartments," RP Data's Cameron Kusher suggested.</p>
<p>"Brisbane is much like Sydney and Melbourne 10 years ago, where we started to see a lot of  higher-end apartments; that trend is catching on in Brisbane.”</p>
<p>Over the last decade, the Brisbane residential apartment market had been catering for the investor market, according to Sunland managing director Sahba Abedian whose tower was pitched as the owner occupier.</p>
<p>At least 110 apartment blocks are planned for Brisbane, according to research house Urbis.</p>
<p>RP Data's Cameron Kusher noted this week t<span>he rising prominence of unit approvals in Brisbane is a relatively new phenomenon with unit approvals over-taking those of houses in Brisbane from June 2013.</span></p>
<p><span style="line-height: 1.3em;">The Gold Coast-based Sahba Abedian is moving to Brisbane where he will also oversee </span><span style="line-height: 1.3em;">plans for three or four buildings on the former ABC site at Toowong.</span></p>
<p>Investors have emerged with a great presence in recent f<span style="line-height: 1.3em;">igures compiled by AFG for Queensland over April. </span></p>
<p><span style="line-height: 1.3em;">The mortgage broker recorded that loans to investors accounted for almost two out five (38%) of home loan arranged over the month, up from 32% in February.</span></p>
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<div class="layoutArea">
<div class="column">
<p><span>AFG </span><span>MORTGAGES </span><span>SOLD</span><span style="line-height: 1.3em;"> QLD</span></p>
</div>
</div>
<table style="width: 460px;">
<colgroup>
<col>
<col>
<col>
<col>
<col>
<col>
</colgroup>
<tbody>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>MONTH </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>TOTAL NUMBER </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>TOTAL AMOUNT </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>AVERAGE SIZE </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>FIRST TIME BUYERS </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>PROPERTY INVESTORS </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Feb 13 </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image144800" alt="page2image144800" width="0.480000" height="0.480000"><img src="file:///page2image145280" alt="page2image145280" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>1,697 </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image146520" alt="page2image146520" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>605m </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image147920" alt="page2image147920" width="0.480000" height="0.480000"><img src="file:///page2image148240" alt="page2image148240" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>$356k </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image149320" alt="page2image149320" width="0.480000" height="0.480000"><img src="file:///page2image149640" alt="page2image149640" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>6.4% </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image150720" alt="page2image150720" width="0.480000" height="0.480000"><img src="file:///page2image151304" alt="page2image151304" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>34.2% </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Mar 13 </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image153912" alt="page2image153912" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>1,615 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>564m </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image156200" alt="page2image156200" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>$349k </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image157264" alt="page2image157264" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>5.1% </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image158328" alt="page2image158328" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>34.5% </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Apr 13 </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image161032" alt="page2image161032" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>1,721 </span></p>
</div>
</div>
<img src="file:///page2image162280" alt="page2image162280" width="0.480000" height="0.480000">
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>587m </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image164152" alt="page2image164152" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>$341k </span></p>
</div>
</div>
<img src="file:///page2image165080" alt="page2image165080" width="0.480000" height="0.480000">
</td>
<td>
<img src="file:///page2image165552" alt="page2image165552" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>3.5% </span></p>
</div>
</div>
<img src="file:///page2image166480" alt="page2image166480" width="0.480000" height="0.480000">
</td>
<td>
<img src="file:///page2image166952" alt="page2image166952" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>36.2% </span></p>
</div>
</div>
<img src="file:///page2image167880" alt="page2image167880" width="0.480000" height="0.480000">
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>May 13 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>1,803 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>629m </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>$348k </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>5.9% </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>32.3% </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>June 13 </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image174192" alt="page2image174192" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>1,545 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>531m </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image176480" alt="page2image176480" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>$344k </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image177544" alt="page2image177544" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>5.7% </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image178608" alt="page2image178608" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>35.0% </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>July 13 </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image180632" alt="page2image180632" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>1,799 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>614m </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>$341k </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>5.8% </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>33.9% </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Aug 13 </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image187712" alt="page2image187712" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>1,755 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>618m </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image190000" alt="page2image190000" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>$352k </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image191064" alt="page2image191064" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>6.0% </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image192128" alt="page2image192128" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>35.8% </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Sept 13 </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image194472" alt="page2image194472" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>1,756 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>627m </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image196760" alt="page2image196760" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>$357k </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image197824" alt="page2image197824" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>6.5% </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image198888" alt="page2image198888" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>35.9% </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Oct 13 </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image201592" alt="page2image201592" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>1,972 </span></p>
</div>
</div>
<img src="file:///page2image202520" alt="page2image202520" width="0.480000" height="0.480000">
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>701m </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image204712" alt="page2image204712" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>$355k </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image206112" alt="page2image206112" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>6.1% </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image207512" alt="page2image207512" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>36.9% </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Nov 13 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>1,906 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>686m </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>$360k </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>6.2% </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>33.6% </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Dec 13 </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image214752" alt="page2image214752" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>1,555 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>556m </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image217040" alt="page2image217040" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>$358k </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image218104" alt="page2image218104" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>6.2% </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image219168" alt="page2image219168" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>34.9% </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Jan 14 </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image221192" alt="page2image221192" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>1,349 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>473m </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>$350k </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>6.5% </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>33.5% </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Feb 14 </span></p>
</div>
</div>
</td>
<td>
<img src="file:///page2image227952" alt="page2image227952" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>1,710 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>611m </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>$357k </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>6.9% </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>32.3% </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Mar 14 </span></p>
</div>
</div>
<img src="file:///page2image234576" alt="page2image234576" width="0.480000" height="0.480000">
</td>
<td>
<img src="file:///page2image235072" alt="page2image235072" width="0.480000" height="0.480000"><div class="layoutArea">
<div class="column">
<p><span>1,891 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>704m </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>$372k </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>5.1% </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>37.1% </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Apr 14 </span></p>
</div>
</div>
<img src="file:///page2image243184" alt="page2image243184" width="0.480000" height="0.480000">
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>1,733 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>631m </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>$364k </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>4.7% </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>38.2%</span></p>
</div>
</div>
</td>
</tr>
</tbody>
</table>
</div>
<p>But NSW remained the most investor-dominated market with almost one in two home loans arranged by AFG brokers over April for investment purposes.<span style="line-height: 1.3em;"> </span></p>
<p>Investors accounted for a third or more of home loans arranged in Victoria, South Australian and WA over April.</p>
<p><span style="line-height: 1.3em;">"Investor activity does seem to be gathering pace in Queensland,” said AFG general manager Mark Hewitt noted. </span></p>
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Chef Matt Moran buys in owner occupier Abian, Brisbane apartment block

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<p><span>Western Australian couple Russell and Carole - contestants on <em>House Rules</em> 2014 - purchased their home off Gumtree.</span></p>
<p><span>It was <span>advertised under the heading "renovate or detonate".</span></span></p>
<p><span><span><span>"Russell was being ridiculous looking at places that were too expensive so I plugged into Gumtree, ‘Houses for Sale’ and put in an amount that we could afford," said Carole.</span></span></span></p>
<p><span><span><span>Despite the extensive work needed, Carole could see potential, falling in love with the valley views, then buying without any building inspection report. </span></span></span></p>
<p><span style="line-height: 1.3em;">They now have a $290,000 mortgage, <a href="https://au.tv.yahoo.com/house-rules/clips/23221878/worst-rooms-carole-and-russell-wa-/" target="_blank">with the renovation by rival contestants airing this week on Channel 7</a>.</span></p>
<p><span style="line-height: 1.3em;">Their home on stilts was sitting unstable on an overgrown block in the Perth Hills.</span></p>
<p><span style="line-height: 1.3em;">"I wasn’t happy because there was so much work to do," the administration manager, Russell recollects.</span></p>
<p><span style="line-height: 1.3em;"><span>After he met Carole, who works for the local council, at a party in 2001, t</span></span><span style="line-height: 1.3em;">hey renovated and sold their first Perth house at a profit.</span></p>
<p><span style="line-height: 1.3em;">But the pair lost money when prices dropped after the global financial crisis in 2008.</span></p>
<p><span style="line-height: 1.3em;"> Reminscent of the 2013 couple Steve and Michelle at Collaroy Plateau in some ways as the Sydney couple had previously hit tough times too after <span>putting money into a property development venture that went bankrupt. Even after Steve and Michelle sold their prior house they still had debt to pay off.</span></span></p>
<p><span style="line-height: 1.3em;">There are currently anywhere <a href="https://www.gumtree.com.au/s-property-for-sale/c18367?sort=price_desc" target="_blank">between 2,000 and 4000 properties</a> for sale on Gumtree from over $1 million to desired swap arrangements.</span></p>
<p><span style="line-height: 1.3em;"><span>Many of them are offering the house for relocation with the land being kept by the owner.</span></span></p>
<p><span style="line-height: 1.3em;"><span>{module Would you buy a home off Gumtree without a building inspection report?}</span></span></p>
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House Rules: Would you buy a home off Gumtree without a building inspection report?

<html><body>
<p>Dwelling approvals fell by 3.5% in March, according to the ABS but approvals are still up 20% over the year.</p>
<p>CommBank economist Savanth Sebastian noted the current number of annual dwelling approvals (15,958) is well above the decade average (13,489).</p>
<p>House approvals are up 19.1% over the past year while apartment approvals are up 21.3%.</p>
<p><span style="line-height: 1.3em;">The latest ABS data showed mixed results across the states, with the total number of building approvals jumping 32% in Tasmania, followed by 8% in New South Wales.</span></p>
<p>But approvals fell across the remaining states, dropping 12.5% in Victoria.</p>
<p>Building approvals remain well below the 2003 peak. Michael Workman, senior economist at CBA, noted t<span>here is a difference in this cycle as multi‑units have about a 45% share of the total, well up on the 30% of a decade ago.</span></p>
<p><span>Workman also says t</span><span style="line-height: 1.3em;">he lag between approvals and construction is longer than previously experienced. </span></p>
<p><span style="line-height: 1.3em;">"We expect to see sharp rises in the construction activity data in coming quarters.</span></p>
<p><span style="line-height: 1.3em;">"It should also flow into higher spending at big box retailers as the new dwellings are kitted out," he said. </span></p>
<p>The ANZ estimated the elevated level of dwelling approvals was likely to add around 0.35-0.40ppts to economic growth in 2014-15.</p>
<p>But they added that despite expectations that non-residential and residential building will go some way to offsetting weaker mining investment in the coming years, the data highlighted the volatile nature of the current cyclical recovery in building activity, particularly for the high-density housing and commercial building sectors.</p>
<p>Consequently there are concerns that the downward trend in approvals for high density living – down four of the last five months - may signal approvals have hit an earlier than expected peak.<span style="line-height: 1.3em;"> </span></p>
<p>HIA-RP Data’s Residential Land Report has meanwhile warned Australia’s residential land market activity continued to tighten at the end of last year.</p>
<p>The data providers Residential Land Report has shown residential land sales fell 1.8% to 15,447 lots in the December quarter, representing the second straight quarter of declining activity. </p>
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Fears of early peak in dwelling approvals 

<html><body>
<p>Shane Warne and his former <span>fiancé</span> Liz Hurley have yet to decide what to do with their £6 million 13 bedroom UK purchase, Donnington Hall near Ledbury.</p>
<p>Donnington Hall is an <a href="https://www.propertyobserver.com.au/news/shane-warne-and-liz-hurley-to-renovate-their-uk-home-mostly-adding-ensuites/2013061662307?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus" target="_blank">impressive property</a> on 21 acres of woodland.</p>
<p>{qtube vid:=Zzjkjm7fz1g}</p>
<p>Together for almost three years, Shane Warne and fiance, Liz Hurley had started renovations before they<span style="line-height: 1.3em;"> parted ways in November 2013.</span></p>
<p class="mol-para-with-font"><span>She has told the latest <em>Hello</em> magazine the future of Donnington Hall was "up in the air."</span></p>
<p class="mol-para-with-font"><span><em>Hello Online</em> does say Hurley<span> "hints that she and Damian (her 12 year old son) may continue to live there."</span></span></p>
<p class="mol-para-with-font"><span style="line-height: 1.3em;">The grade II-listed Donnington Hall is </span><span style="line-height: 1.3em;">a Georgian mansion on the Gloucestershire-Herefordshire border.</span></p>
<p>She already owned in Gloucestershire.</p>
<p><img src="/images/stories/2012/08/donnington2.png" width="470"></p>
<p>Donnington Hall (pictured above and below) is an impressive property that boasts a tennis court, fishing lake, Edwardian stables and open field, and housekeeper accommodation.</p>
<p><img src="/images/stories/2012/08/donnington3.png" width="470"></p>
<p>It was in late 2011 when the local paper, the <em>Ledbury Reporter</em> revealed the house-hunting rumours when the couple strolled into Greggs the bakers on the High Street.</p>
<p>"The town was buzzing with rumours the couple were looking for property as Liz ordered a <a href="https://www.malverngazette.co.uk/news/9895327.Liz_and_Shane_buy___6m_mansion_near_Ledbury/" target="_blank" rel="nofollow">custard slice and Shane, two sausage rolls</a>," the <em>Malvern Gazette</em> wrote.</p>
<p>Donnington was bought without any registered mortatge in 2012.</p>
<p><span style="line-height: 1.3em;"><a href="/news/vic/shane-warne-secured-10-85-million-in-kilkerran-sale-so-no-brighton-record">Shane Warne sold his Brighton home</a>, <span>Kilkerran </span>late last year for $10.85 million, and is reported to have spent around $4 million on a four bedroom, two bathroom Kinane Street, Brighton home</span><span style="line-height: 1.3em;">.</span></p>
<p>The heritage-listed property, <span>Kilkerran</span> was bought for $8.55 million in 2009 with his then-wife Simone Callahan.</p>
<p>It had been completely renovated to include a wine room, a gym, basement garage, tennis court, cinema and a pool with Warne's cricket number, 23, inscribed on the bottom of the pool.</p>
</body></html>

Shane Warne and Liz Hurley yet to decide on Donnington Hall mansion future

<html><body>
<p>The Melbourne education entrepreneur Shesh Ghale has snappily sold Tomasetti House in Melbourne’s CBD for $16.2 million.</p>
<p>The eight-storey building at 277-279 Flinders Lane was bought in 2007<span style="line-height: 1.3em;"> for $12.2 million and used in part for his headquarters. </span></p>
<p><span style="line-height: 1.3em;">The marketing was through <a href="https://commercialpropertysearch.savills.com.au/7572/Sale/Melbourne/277-279-Flinders-Lane" target="_blank">Savills agents Clinton Baxter and Nick Peden</a> who advise it was bought by</span><span style="line-height: 1.3em;"> local private investor who outbid two offshore mainland Chinese buyers.</span></p>
<p><span style="line-height: 1.3em;">Set on 643 square metres of land, it is currently 93% leased.</span></p>
<p>The property will deliver a 7.1% yield fully leased with a f<span>ully let net rental of $1,156,870 per annum.</span></p>
<p><span>The eight-level Tomasetti House building, with 3,818 square metres of office and retail area, was briefly listed in 2011 with $15 million hopes.</span></p>
<p>Ghale is the co-founder of the Melbourne Institute of Technology which is undertaking the refurbishment of the 1920s Argus Building on the corner of Elizabeth and La Trobe streets <span style="line-height: 1.3em;">into a 3,000 student campus.</span></p>
<p>His plans for a $450 million hotel-and<span>-</span>­apartment twin tower complex overlooking ­Melbourne’s Flagstaff Gardens <span style="line-height: 1.3em;">near the Queen Victoria Market is yet to secure approval.</span></p>
<p><span style="line-height: 1.3em;">The application is for two towers of 50 and 30 storeys with a 210-room hotel and 609 apartments at the corner of William and Franklin streets</span><span style="line-height: 1.3em;"> with plans for 279 public car parking spaces for market visitors and a 372-space public bike hub with showers, gym and pool.</span></p>
<p><span style="line-height: 1.3em;">The development architect is </span><span style="line-height: 1.3em;">Elenberg Fraser</span><span style="line-height: 1.3em;">.</span></p>
</body></html>

Mebourne property developer Shesh Ghale sells Tomasetti House

<html><body>
<p>The William Smart-designed semi in Potts Point, listed at $5.5 million-plus, has been sold for $4.6 million.</p>
<p><span style="line-height: 1.3em;"><a href="https://www.randw.com.au/1490419/" target="_blank">Ilari was listed</a> though Jason Boon and Geoff Cox of Richardson &amp; Wrench Elizabeth Bay.</span></p>
<p>The three storey Federation house was sold by designer Johnson Chan, who paid $1.9 million in 2007 buying the property with a humble Tudor facade from barrister-cum-buyers agent Chris Curtis.</p>
<p>Inspectees were told a further $3.5 million had been spent on its substantial rebuild by Smart, of Smart Design Studio, who won <a href="https://smartdesignstudio.com/projects/residential/tusculum/" target="_blank">some 15 awards and commendations </a>for the work<span style="line-height: 1.3em;">, including the 2012 AIA Architecture Award for heritage and interior design. </span></p>
<p><span style="line-height: 1.3em;">The four-bedroom home with a steel and bronze cantilevered staircase as its centrepiece was marketed as a mix of <span>concrete, steel, glass, stone, timber and technology.</span></span></p>
</body></html>

William Smart-designed Potts Point semi sells for $4.6 million

<html><body>
<p><span style="line-height: 1.3em;">Sydney’s auction clearance has softened, now sitting at below 80% for the fourth consecutive weekend. </span></p>
<p><span style="line-height: 1.3em;">The decline followed 10 consecutive weekends with initial clearance rates above 80% in the early part of 2014.</span></p>
<p><span style="line-height: 1.3em;">The revised clearance rate, compiled after more results are added, now sits in the lows 70s.</span></p>
<p><span style="line-height: 1.3em;">There is little doubt the market has stepped down a gear over the past month, economist Dr Andrew Wilson at Australian Property Monitors acknowledges.</span></p>
<p><span style="line-height: 1.3em;">Ditto price growth, as a</span><span style="line-height: 1.3em;">fter 11 months of solid growth, Sydney house prices have slowed, according to RP Data Rismark.</span></p>
<p><span style="line-height: 1.3em;">Though </span><span style="line-height: 1.3em;">the 0.5% average rise in April pushed the median price for Sydney houses above $800,000 for the first time to </span><span style="line-height: 1.3em;">sit at $802,000.</span></p>
<p>RP Data senior analyst Cameron Kusher said the slowing of price growth was to be expected as consistent increases were unsustainable.</p>
<p><span style="line-height: 1.3em;">Sydney prices were up 16.7% annually, compared with the combined capital growth rate of 11.5%. </span></p>
<p><span style="line-height: 1.3em;">“The last time Sydney strung together 11 consecutive month-end increases was in November 2007 when the market added 14.7% and before that in November 2002 when it delivered 19.6% growth,” Rismark chief executive Ben Skillbeck advised.</span></p>
<p><span style="line-height: 1.3em;">After the Easter and ANZAC Day long weekend holidays, there were around 630 properties that were put to weekend auction across Sydney.</span></p>
<p><span style="line-height: 1.3em;">There was a 77.3% initial clearance rate on Saturday, with the weekend prior's rate revised down to 72.3%. That followed the previous 73.7% revised figure.</span></p>
<p><span style="line-height: 1.3em;">APM had the lower north reporting the highest regional initial clearance rate at the weekend at 89.5%. </span></p>
<p><span style="line-height: 1.3em;">Next best was the northern beaches with 88.9% followed by the south with 87.2%, Canterbury Bankstown 84%, the city and east at 80.6% and the inner west at 80.3%.</span><span style="line-height: 1.3em;">  </span></p>
<p><span style="line-height: 1.3em;">The most expensive property reported sold at auction at the weekend was a six bedroom 1974-built house at 11 South Street Strathfield (pictured above) sold for $3,850,000 through the McGrath agency. It was given a cautious pre-auction price guidance of $2.55 million to $2.95 million by an out of area agency.</span></p>
<p><span style="line-height: 1.3em;"> The most affordable property reported sold was an unrenovayed three bedroom house on a 556 square metre block at <a href="https://www.propertyobserver.com.au/https://www.starrpartners.com.au/10385653?&amp;favourite=add&amp;propertyID=10385653remove" target="_blank">65 Luxford Road Whalan</a> sold pre-auction for $255,000 by Starr Partners Blacktown.</span></p>
<p><span style="line-height: 1.3em;">Meanwhile Melbourne recorded it highest clearance rate for two months at the weekend when </span><span style="line-height: 1.3em;">760 properties went under the hammer in the Melbourne metro area.</span></p>
<p><span style="line-height: 1.3em;">APM had Melbourne recording a clearance rate of 73.4% at the weekend.</span></p>
<p><span style="line-height: 1.3em;">The outer east had a clearance rate of 82.4%. The next best region was the north with 79.6% followed by the inner south with 77.4%, the inner east at 75.9% and the inner city with a weekend clearance rate of 71.9%.</span></p>
<p><span style="line-height: 1.3em;">Melbourne dearest weekend sale was at Brighton at $3.22 million for 11a Wolseley Grove through RT Edgar.</span></p>
<p>The cheapest sale was a one bedroom through Sweeney Footscray when 10/21 Hampton Parade, West Footscray sold for $185,000. It last sold in 1990 for $56,000. Its price guidance was $180,000 to $198,000.</p>
<p>Greville Pabst from the Melbourne-based WBP Property Advisory expects clearance rates to ease slightly in the coming weeks and be in the range of 67% to 70% as auction volumes start increasing again.</p>
<p>RP Data's <span style="line-height: 1.3em;">combined capital cities preliminary auction clearance rate was recorded at 66.3 per cent this week, having increased from the 64.6 per cent over the previous week. <span> This is the first time so far this year where the current clearance rate has underperformed when compared to the same time one year ago.</span></span></p>
<p><span style="line-height: 1.3em;"><span><span>RP Data’s national research director Tim Lawless has noted there is an underlying concern among consumers about the sustainability of dwelling value growth. </span></span></span></p>
<p><span style="line-height: 1.3em;"><span><span>He said he number of respondents who believe the housing market is vulnerable to a significant correction has now grown to 66 per cent. </span></span></span></p>
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Sydney auction clearance rates weakening, with Melbourne tipped to join the easing

<html><body>
<p><span>Bendigo and Adelaide Bank has agreed to purchase the business and assets of Victoria’s Rural Finance for $1.78 billion as its shares went into a trading halt ahead of a capital raising.</span></p>
<p><span style="line-height: 1.3em;">The purchase of Rural Finance Corporation of Victoria</span><span style="line-height: 1.3em;"> was formalised today with the Victorian state government.</span></p>
<p><span style="line-height: 1.3em;">Its loan book has an estimated value of approximately $1.695 billion, at the proposed completion date of July 2014.</span></p>
<p><span style="line-height: 1.3em;"><span>The acquisition is subject to APRA approval.</span></span></p>
<p>The Victorian government, which will release its state budget tomorrow, will receive a net return of around $400 million in the deal. According to Treasurer Michael O’Brien, the proceeds of the sale will be earmarked for productive infrastructure investments in rural and regional Victoria. The decision to sell the Rural Finance Corporation was influenced by the introduction of financial incentives through the Commonwealth asset recycling scheme.</p>
<p> “The Commonwealth’s financial incentives for the recycling of state assets into productive new infrastructure will further support our record infrastructure investment program,” said O’Brien.</p>
<p> “We welcome the Commonwealth government’s asset recycling initiative, which has been an influential factor in the decision of the Victorian Coalition government to divest RFC.”</p>
<p><span style="line-height: 1.3em;">The bank has a </span><span style="line-height: 1.3em;">presence in 11 locations across Victoria. The new deal will also give Rural Finance Corporation customers access to the bank’s 276 branches state wide.</span></p>
<p><span style="line-height: 1.3em;">“Rural Finance will work together with our existing specialist agri</span><span style="line-height: 1.3em;">cultural business, Rural Bank, to serve more than 5,200 farmers across Victoria </span><span style="line-height: 1.3em;">– </span><span style="line-height: 1.3em;">with a loan book in </span><span style="line-height: 1.3em;">excess of $2.4 billion,” </span><span style="line-height: 1.3em;">Bendigo and Adelaide Bank managing director Mike Hirst said.</span></p>
</body></html>

Bendigo and Adelaide Bank purchasing Victoria’s Rural Finance Corporation for $1.78 billion

<p><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.</p>

<p>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.<br />
&nbsp;<br />
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.</p>

<p>[smartcode_project:default project_id=13962 project_image_fid=362240]<br />
&nbsp;<br />
<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.<br />
&nbsp;<br />
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.<br />
&nbsp;<br />
"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.</p>

<p>[smartcode_project:default project_id=13962 project_image_fid=362566]<br />
&nbsp;<br />
"What makes these places so successful is that they become much more than residential developments," Brown said.</p>

<p>"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."</p>

<p>Brown has long described absolute waterfront land in Sy​dney as "finite."</p>

<p>"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.<br />
&nbsp;<br />
"<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."</p>

<p>[smartcode_project:default project_id=13962 project_image_fid=362564]<br />
&nbsp;<br />
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.<br />
&nbsp;<br />
"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.<br />
&nbsp;<br />
"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."</p>

<p>[smartcode_project:default project_id=13962 project_image_fid=291195]<br />
&nbsp;<br />
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.<br />
&nbsp;<br />
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.<br />
&nbsp;<br />
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.</p>

<p>[smartcode_project_cta:default project_id=13962]</p>


Joel Robinson

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=140755 project_image_fid=354809]</p>

<p>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.</p>

<p>Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=140755 project_image_fid=366267]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=140755]</p>


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

<p>"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. ​</p>

<p>"We've lived here before… everything is here," Chris said.</p>

<p>"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."</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/X8K0Bozug7A?si=Puwc6vx_ZO0qQZF8" title="YouTube video player" width="560"></iframe></p>

<p>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.</p>

<p><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.</p>

<p>[smartcode_project:default project_id=342 project_image_fid=364553]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=342 project_image_fid=357510]</p>

<p>While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.</p>

<p>"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.</p>

<p>"We're just thrilled with our choice."</p>

<p>[smartcode_project:default project_id=342 project_image_fid=336455]</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=342]</p>


Location and lifestyle drive demand at Candela Ivanhoe

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=151921 project_image_fid=370263]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=151921 project_image_fid=367468]</p>

<p>Beyond the internal amenity, AURA introduces a series of Japanese-inspired gardens that form a quieter counterpoint to the tower’s social spaces.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=151921 project_image_fid=367810]</p>

<p>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.</p>

<p>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.</p>

<p>“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.</p>

<p>[smartcode_project:default project_id=151921 project_image_fid=367796]</p>

<p>AURA’s amenity strategy extends beyond the tower itself through its integration with the wider Melbourne Square precinct.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=151921 project_image_fid=370253]</p>

<p>As Melbourne’s apartment market continues to mature, developments are increasingly judged by the lifestyle they provide beyond individual residences.</p>

<p>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.</p>

<p>[smartcode_project_cta:default project_id=151921]</p>


AURA elevates amenity living at Melbourne Square

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>


Jonathan Chancellor

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