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There were 48,000 completed foreclosures nationally across the United States in March 2014, down from 53,000 in March 2013, an annual decrease of 10%, according to CoreLogic, the leading global property information, analytics and data provider. 
But completed foreclosures were up 5.9% from the 45,000 reported in February 2014.
As a basis of comparison, before the decline in the housing market in 2007, completed foreclosures averaged 21,000 per month nationwide between 2000 and 2006.
Since the financial crisis began in September 2008, there have been five million completed foreclosures across the country.
And as of March 2014, 720,000 homes in the United States were in some stage of foreclosure, known as the foreclosure inventory, compared to 1.1 million in March 2013, a year- over-year decrease of 37%.
The foreclosure inventory as of March represented 1.8% of all homes with a mortgage, compared to 2.8% in March 2013.
The foreclosure inventory was down 5.1% from February 2014, representing the 29th month of year-over- year declines.
“The inventory of homes in foreclosure and serious delinquency status are back to 2008 levels, yet remain elevated from a historical perspective,” said Mark Fleming, chief economist for CoreLogic.
“While getting healthier, the housing market is a long way from being fully recovered.
“The pathway to a full recovery in housing is proving to be a very long one, but lower distressed stock levels are one clear indicator that we continue to make slow-but-steady progress,” said Anand Nallathambi, president and CEO of CoreLogic.
It was pointed out that most states have made good progress clearing their foreclosure inventories but states that have a longer judicial foreclosure process such as Florida, New Jersey and New York, continue to struggle with elevated distressed stock inventories.
Some 36 states show declines in year-over-year foreclosure inventory of greater than 30% with Arizona, California and Utah experiencing declines greater than 50%.
The five states with the highest number of completed foreclosures for the 12 months ending in March 2014 were Florida (122,000), Michigan (49,000), Texas (39,000), California (34,000) and Georgia (33,000).These five states account for almost half of all completed foreclosures nationally.
The five states (including the District of Columbia) with the lowest number of completed foreclosures for the 12 months ending in March 2014 were the District of Columbia (57), North Dakota (414), West Virginia (516), Hawaii (683) and Wyoming (714).
The five states with the highest foreclosure inventory as a percentage of all mortgaged homes were New Jersey (6.0%), Florida (5.8%), New York (4.6%), Maine (3.2%) and Hawaii (3.1%).
The five states with the lowest foreclosure inventory as a percentage of all mortgaged homes were Alaska (0.4%), Wyoming (0.5%), North Dakota (0.5%), Nebraska (0.5%) and Minnesota (0.6%).
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The five states with highest and lowest foreclosure homes in USA: CoreLogic

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The year-to-date Melbourne wide auction clearance rate is 71%, but many suburbs are recording weak auction results.
Property Observer lists 10 of the weakest suburbs with 20 plus auction offerings so far this year.
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<a href="/news">Dandenong</a> 36 offerings 50% sold 
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<a href="/news">Frankston </a>26 offerings 50% sold 
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<a href="/news">Mt Eliza</a> 20 offerings 50% sold 
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<a href="/news">Rye</a> 46 offerings 48% sold 
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<a href="/news">St Albans</a> 32 offerings 46% sold 
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<a href="/news">Dandenong North</a> 31 offerings 45% sold 
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<a href="/news">Maribyrnong</a> 55 offerings 40% sold 
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<a href="/news">Portsea</a> 25 offering 36% sold 
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<a href="/news">Greenvale</a> 20 offerings 30% sold 
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<a href="/news">South Morang</a> 21 offerings 28% sold
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Source: <a href="https://www.reiv.com.au/en/Property-Research/Auctions/Clearance-rates" target="_blank">REIV</a>
It is not to say that auctions don't work as <a href="https://www.realestateview.com.au/Real-Estate/penola-drive-south-morang/Property-Details-sold-residential-6600915" target="_blank">a seven year old South Morang house</a> (pictured above) was snapped up ahead of last weekend's auction. 
<a href="https://www.realestateview.com.au/Real-Estate/32-skyline-drive-south-morang/Property-Details-buy-residential-6656905" target="_blank">In May $410,000 plus buyers</a> are being sought for a four bedroom two bathroom house on Skyline Drive.
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Melbourne's 10 weakest auction suburbs reveals tepid South Morang auction buyers

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Initially listed in 2010 with $10 million plus hopes, the Kirribilli mansion called Fairhaven has been finally sold at an undisclosed price. There were $7.5 million plus hopes in early 2013. It was last sold at $6.05 million by the Donnelly family in 2004.
The five-bedroom house on an 1,400 square metre estate was sold by telecommunications entrepreneur turned property developer Rob Melhem who commissioned renovations by SJB Architects.
Downstairs is The Club Room, a timber panelled rumpus room with a huge open fireplace, a full sized billiards table, games area, built-in bar and climate controlled cellar for up to 800 bottles.
<a href="https://www.realestate.com.au/property-house-nsw-kirribilli-116221255" target="_blank">The 1905 Edwardian/Federation property</a> comes with a heated pool, tennis court and parking for six cars. It sold last month pre-auction through LJ Hooker agents Richard Harding and Geoff Smith with its price undisclosed.
Some time over the past four years Rob Melhem, said: ''We won't budge from this price. This is rock bottom.''
Title Tattle gathers the buyer is Caroline Grundy, the wife of David Grundy from Killara. They recently sold the family's 2,953 square metre Buckingham Road battle-axe abode for $5.7 million to Citie Centre Nominees, who also spent $2.3 million on the neighbouring site presumably for another upper north shore multi-unit residential development. 
Fairhaven has Kirribilli's only privately owned, full-size tennis court. Even Kirribilli House does not have a tennis court as our prime ministers play their tennis at The Lodge. 
Fairhaven, which borders Loreto Convent on Carabella Street, is viewed as among the best examples of the early work of the 19th-century architect James Peddle.
The owner from 1905-1913 was Commercial Banking Co banker Hugh Massie, the cricketer.
Michael Terrett bought the property in 1990 for $1,625,000 from a developer who originally wanted to turn the house into flats. The Terrett family sold in 1993 for $2.03 million.
Rob Melhem, a former sponsor of the Manly Sea Eagles, and his wife Fiona moved to Kirribilli after listing their modern Mosman residence.
It sold for $3.2 million in 2007 though Title Tattle recalls their redundant Raglan Street house had $4 million-plus expectations when first listed in mid-2004.
Title Tattle gathers the Melhem's are now Hope Island, Gold Coast based.
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Rob Melhem's Fairhaven, Kirribilli mansion finally sells

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Hawthorn AFL player Grant Birchall has secured $652,000 for his apartment in Hawthorn East through Jellis Craig agent Kevin O’Brien.
The Hawthorn defender bought the two floor apartment for about $518,000 in 2007. <a href="https://www.jelliscraig.com.au/property/HAWTHORN-EAST-3/765-Burwood-Road/6718251/#.U1nufVxK7u0" target="_blank">It has two bedrooms, two bathrooms and two car places</a>.
Title Tattle gleans he spent around $1.4 million on his recent four bedroom Glen Iris house purchase also through Jellis Craig.
The two-time AFL premiership player re-signed late last year with Hawthorn until the end of the 2017 season.
He grew up in <a href="/news">Shearwater</a>, a small beachside town outside Devonport in Tasmania.
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Hawk Grant Birchall sells Hawthorn East flat as he upgrades to Glen Iris house

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Cunana, the iconic property situated in Merricks, has been relisted but with subdued hopes reflecting the malaise which is the prestige Mornington Peninsula property market.
It came with $12 million plus hopes in late 2011, <a href="https://www.realestateview.com.au/Real-Estate/3509-frankston-flinders-road-merricks/Property-Details-buy-residential-5537395" target="_blank">and now relisted through Jock Langley, of Abercromby's</a>, there's $6 million plus expectations for its 18 May auction.
It was completed in 2007, after four years of planning and construction, to a design by architect Alfred de Bruyne of SJB Architects, with SJB Interiors completing the interior design.
<a href="https://www.cunana-merricks.com" target="_blank">It got its own website</a> on its 2011 offering.
There are just the seven listings in Merricks, but RP Data notes 1,400 house listings currently for sale across the peninsula.
The house sits in 11 hectares of land on one of the highest points of the peninsula and includes two hectares of landscaped gardens, orchards and a vegetable garden. There is also croquet lawn and a boule court.
Its deluxe design was no doubt influenced by the vendor, Peter Edwards who held a senior position at a leading luxury hotel and resort group for many years.
Extensive use of glass had created an intimate relationship between the house and its surroundings. The three glass sides offer three different views of the ocean, vineyards and rolling hills.
Rammed earth bricks, which were made on site using Victorian earth and clay, have been juxtaposed with glass to create clean lines and an original design. Grey ironbark has been used throughout the house, including the flooring timber, bookshelves and pool surround.
The highly skilled art of Venetian stucco work has been applied to the internal walls to give the plaster a marble-like sheen. The property sleeps 14 people, including a master suite with dressing room and two self-contained apartments, which would be suitable for families, long-term guests or live-in staff.
Five kitchens and two large terraces offer entertaining opportunities. There’s an indoor pool, gym, and games room complete with arcade machines and a private cinema.
The district's last big sale was last year when <a href="/news/vic/jacks-ridge-the-merricks-north-vineyard-sells">Jacks Ridge</a>, the Merricks North house designed by Robert Boyle, was sold by the Jack family.
<a href="https://www.realestate.com.au/property-house-vic-merricks+north-112179975" target="_blank">The 18-hectare Junction Road property </a>has elegant parklands, along with extensive beds of roses and perennials, Manchurian pear avenue, a box-bordered English lavender parterre and croquet lawn and golf green.
The stone-and-timber four-bedroom house with wrap-around veranda overlooks vineyards and Port Phillip Bay in the distance.
There are vineyards of chardonnay on one side of the homestead and pinot noir on the other. The vines were planted around 1996. The Mornington Peninsula property comes with guest accomodation.
<a href="https://www.jacksridge.com.au/" target="_blank">Fletchers Canterbury agent Rob Fletcher </a>had $6 million hopes, with its sale price revealing $4.8 million to insurance broking veteran Brian Austin.
An earlier version of this article incorrectly gave a prior conjunctional agent.
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Cunana, Merricks relisted with subdued hopes given Mornington Peninsula prestige malaise

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Not all Sydney home owners have been beneficiaries of the recent price fillip.
Hunters Hill appears the laggard standout suburb with 0.9% price growth over the past year to its current $1.6 million house price median.
Sydney house prices are up 16.9% over the past year.
''It is no surprise that Hunters Hill has been flat,'' Dr Andrew Wilson, the senior economist at Australian Property Monitors, told the Fairfax Media local paper.
''A lot of prestige suburbs are still playing catch up and Hunters Hill is a classic example of that.''
Dr Wilson said the strongest growth for prestige suburbs like Hunters Hill was before the global financial crisis.
''But with the stockmarket rising they are certainly set to catch up now,'' he suggested.
But Property Observer reckons there's more systemic issues at work hampering price growth - certainly more so off the riverfront than the prestige waterfront trophy homes.
And indeed it is most evident that there are two Hunters Hills - with many of the laggard sales being on the other side of Burns Bay Road, and away from the more popular sandstone and jacaranda peninsula. So a high proportion of slow price growth happens on Bonnefin Road, Abigail Street and Avenue Road, almost Gladesville in location hanging off the Hunters Hill coat tails.
The suburb is a low demand locality historically with an unusually higher proportion of its sales being to devoted upgraders within - not naive about the pricing so therefore careful not to over pay. So not the usual high volumes coming in from elsewhere around Sydney, but they certainly do come from mostly the inner west suburbs like Strathfield.
Its village retail life is hardly vibrant and the single main road entry point must be a bother sometimes.
There have been around 120 house sales since early 2013 of the 2,200 freestanding abodes in the peninsula suburb which Property Observer put under the spotlight.
They ranged from $925,000 to $5.3 million. 
Just the three sales went backwards including the $1.8 million sale last year of the five bedroom at <a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-113801467" target="_blank">3 Gladesville Road</a> which had <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-hunters-hill-nsw-2110/52541" target="_blank">sold in 2007 at $1,875,000</a>.
The four bedroom <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-hunters-hill-nsw-2110/170882" target="_blank">5 Ramleh Street</a> went backwards to $1.36 million last year from $1.43 million in 2007.
The priciest price reversal was <a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-113106287" target="_blank">Kyarra, the 1886 sandstone mansion</a> which sold for $4.5 million at 1 Madeline Street (pictured above) last year having sold at $4.7 million in 2004.
The four bedroom <a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-116045247" target="_blank">3 Martha Street</a> went up - but just $10,000 from $2.3 million in 2003 to 11 years later a $2.31 million sale earlier this year.
The <a href="https://www.domain.com.au/Property/For-Sale/House/NSW/Hunters-Hill/?adid=2009730390" target="_blank">23 Bonnefin Road</a> sold for $2.8 million last year having sold at $2,794,000 in 2007 with $500,000 works to convert it from its duplex status in the meantime.
The four bedroom <a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-112893451" target="_blank">36 Abigail Street</a> sold for $1.71 million in 2013 having sold at $1.68 million a decade earlier in 2003.
The four bedroom cottage at <a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-113048891" target="_blank">45 Everard Street</a> sold for $1,406,000 in April last year having sold at $1.35 million in March 2010 and $1,261,000 in June 2006 with its then contemporary addition, suggesting to Property Observer the price malaise is longer term than Dr Wilson attests.
Ditto Emsworth, the 1906 house at <a href="https://www.homesales.com.au/sold/19-the-avenue/hs569633.aspx" target="_blank" style="line-height: 1.3em;">19 The Avenue</a> sold for $1.34 million last year having sold at $1.3 million in 2007 and at $1.1 million in 2002.
The renovation opportunity at <a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-113960383" target="_blank">2 Johnson Street</a> sold last year at $1.38 million having sold at $1.35 million in 2006.
The 1886 extended house at <a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-114061947" target="_blank">4 Alexander Street</a> sold for $3.3 million last year having sold at $3.25 million in 2008.
The riverfront home at <a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-115862427" target="_blank">37 Bonnefin Road</a> sold for $3,155,000 earlier this year having sold at $3.05 million in 2007. Not much growth between 2007 also at <a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-113687311" target="_blank">21 Madeline Street</a> with its sale of $2.66 million in 2007 and $2.7 million last year.
The house at <a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-113219875" target="_blank" style="line-height: 1.3em;">65 Woolwich Road</a> sold for $2 million last year having sold in 2010 for $1.91 million.
The contemporary home at <a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-113574783" target="_blank">17 Augustine Street</a> sold for $1.88 million last year having sold at $1.8 million in 2011.
The four bedroom <a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-107421916" target="_blank">36A Barons Crescent</a> sold for $1,505,000 last year having sold at $1.4 million in 2006.
The three bedroom renovated house at 48 Bonnfin Road sold for <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-hunters-hill-nsw-2110/178504" target="_blank">$1.52 million</a> last year having sold at <a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-hunters-hill-nsw-2110/59334" target="_blank">$1.45 million</a> in 2008.
The sale of <a href="https://www.realestate.com.au/property-house-nsw-hunters+hill-114303163" target="_blank">80B Park Road</a> shows not even the introduction of a fresh estate agency can overcome the price lethargy with it selling at $1,328,000 last year having sold at $1.29 million in 2006.
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House sales showing Hunters Hill is Sydney's price growth laggard suburb

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There was no rental growth for landlords of inner Melbourne one bedroom apartments, and often rentals are falling.
The median one bedroom rent stayed steady at $350 a week during the March quarter in the inner Melbourne ring, which is suburbs within a 10 kilometre radius of the CBD, <a href="/news">according to the REIV</a>.
But Southbank one bedroom rentals fell 3.8% to $500 a week. The Docklands drop wasn't as severe down 0.4% to $428 a week.
Frankston with an 8.1% jump in rents to $200 a week for the typical one bedroom went again the overall metropolitan Melbourne trend which had a 2.4% growth to $340 across Melbourne.
Fitzroy saw a fillip too, jumping 8.1% to a typical $431 a week rental for one bedroom offerings.
The typical middle ring suburb - set between 10 and 20 kilometres of the CBD - had one bedroom rentals typically at at $271 a week, with outer Melbourne at $220 a week.
Median one bedroom rents fell in Camberwell, Glen Iris, Kew, Malvern and Malvern East. But the small falls were not just in the east, with drops in Footscray, Caufield North and Murrumbeena.
There was no change in rents in Toorak, Brunswick, West Melbourne, Carnegie, South Melbourne, Fitzroy North and Yarraville.
On the price front, inner Melbourne one bedroom apartments gained 1.4% in the March quarter to a $370,000 median, <a href="https://www.reiv.com.au/Property-Research/Median-Prices/Median-prices-by-bedroom/1-bedroom-units" target="_blank">according to the REIV</a>. There had been a 4.6% five year annual capital growth.
Middle Melbourne one bedroom units moved ahead by 2.3% in the quarter to $312,000, having recorded a 5.5% annual price growth over the past five years.
Outer Melbourne was the only region where the March quarter growth exceeded the five year growth, with 7.8% price growth to a $275,000 median one bedroom price, reflecting 7.3% annual capital growth over the past five years.
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No inner Melbourne rental growth for one bedroom apartment landlords

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"It’s been almost impossible to give accurate price guidance when potential purchasers are prepared to fight and bid aggressively, resulting in some delighted vendors," the Ray White chairman Brian White recently noted.
The admission accompanied the Ray White Group achieving $3.2 billion in March sales nationally.
"How wise are vendors to have embraced auction in this cycle," <a href="https://www.raywhitegroup.com/white-paper/" target="_blank">he said in his latest monthly advisory</a>, The White Paper.
"All of the talk in Australia is about Sydney.
"But it went much broader than Sydney," he said earlier this month.
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"It’s always a good sign for Australia when New South Wales is powering.
"It becomes a catalyst for confidence across the nation," he said. 
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"Ray White in Victoria set a new record reflecting a dramatically improved Melbourne market," he said.
He pinpointed a number of offices that "showed just how big some real estate agencies can become.
"For example, <a href="https://rwdbgroup.com/" style="line-height: 1.3em;">Double Bay</a> did $120 million, <a href="https://rwremuera.co.nz/" style="line-height: 1.3em;">Remuera</a> in Auckland did $55 million, <a href="https://raywhitegw.com/" style="line-height: 1.3em;">Glen Waverley</a> in Melbourne also did close to $50 million.
"All massive increases over any previous level."
Last November he noted New South Wales was the standout with its first $1billion month, adding the experience at Ray White Balmain where Sam Kelso and Emily Sim opened a new business and were profitable in the first year, was "inspiring." 
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"We’re seeing record auction clearance rates," he wrote in late 2013.
"Property prices are increasing in most markets, particularly the big cities. 
"The highest percentage of property is now being taken to auction. 
"Confidence to upgrade one’s home is being backed by enthusiasm of a cycle a-go.
"Sooner or later, the cycle will lose intensity," he acknowledged. 
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Mr White likes to call markets as accurately as possible, and in the past weaker markets once noted "There's a terrible statistic in the industry that shows about half of sales are made at a price that is less than the owner was previously offered."
And he had also advised the only softness was the confidence hit that resource regions in Australia are now experiencing. 
"On a bearish note, prices are dropping in resource areas.
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"A reminder of how closely linked property prices are to economic activity," he said. 
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Brian White has said the continued focus on China had resulted in the company being recently invited to present at a key investment conference being held by CCPIT – the arm of the Chinese Government promoting investment within and outside of China.  
But adding that while project sales continued at remarkable levels - "what would this market look like if it no longer had Asian interest?" 
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Ray White chief says auction price guidance "almost impossible" in aggressive Sydney market

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Mercedes, the 1886 Rustic Gothic Revival residence at Lavender Bay, has been finally sold.
<a href="https://www.homehound.com.au/listing/sold/nsw/sydney-region/north-shore-lower/lavender-bay-north-shore-lower/9-walker-street-lavender-bay-nsw-2060/" target="_blank">Its $6.95 million buyer last month was to the Graham family</a>, who secured it at almost half its ambitious 2011 asking price of $13 million.
It had previously sold by the Sisters of Mercy, Goulburn,<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-north-sydney-nsw-2060/43612" target="_blank"> in July 2006 for $5 million</a>, and then renovated by Trivest property developer Albert Bertini. He had obstetrician Keith Hartman and hospital industry entrepreneur Shane Moran briefly making up an investment syndicate threesome.
After North Sydney Council approved its $450,000 refurbishment into short-term convalescent accommodation, it was presumably Hartman's passion that briefly had it becoming a $1,300 a night luxury retreat for new mothers and their babies. 
The 1,180 square metres Walker Street property overlooking Lavender Bay had six bedrooms, operating as The Mothers Retreat. But it ceased operating in 2008.
The sale last month was by the company, Lavender Bay Investments of which Albert Bertini was its sole director and shareholder.
The sandstone mansion was built by Broken Hill engineer James Atchison, who sold it in 1893 to the Harcourt family, and then it was owned by the Cahill family, known as Cardigan.
From 1908 until 1944 it was owned by hotelier William Cahill and his wife, Bridget Durack, who sold it to the sisters who gave it its current name.
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No Mercy as Mercedes, Lavender Bay fetches around half ambitious asking price

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Billionaire Joe Lewis has taken his stake on the Australian Agricultural Company’s share register to 23%.
Suggesting he ultimately wants control of Australia’s biggest beef producer, the Bahamas-based British currency trader – who owns English Premier League club Tottenham Hotspur - was the major backer of AACo’s $299 million capital raising in August last year, when his holding stood at 13.5%. 
Lewis can next increase his stake by an extra 11.6% on 1 September, then potentially commanding almost 35% of the register, the Australian Financial Review has suggested. 
Employing around 430 staff, <a href="https://www.aaco.com.au" target="_blank">AACo</a> has 18 owned cattle stations, five agisted properties, two owned feedlots, five external feedlots, and two owned and two external farms located throughout Queensland and the Northern Territory, covering approximately 6.9 million hectares with around a 676,000-head cattle herd.
Last year it sold subdivisions of its Goonoo aggregation, including Adelong, in Central Queensland for $23 million. It also sold Brighton Downs Station, passed in at Elders auction for $10.25 million, for $11.75 to the neighbours of the 420,000 hectares (1.04 million acres) station near Winton, the Britton family.
Last October it added the former RM Williams Agricultural Holdings properties, La Belle Downs and Welltree Stations southwest of Darwin paying $27.1 million through a Colliers marketing campaign for the properties, with a carrying capacity of between 20,000 to 25,000 adult cattle, but were sold bare of cattle. The 100,000 hectare properties will make up 1.6% of AACo’s total land holdings. 
Labelle Downs and Welltree are close to Tipperary, totalling 3,434 square kilometres, which AACo operates under a long-term lease.
AAco's largest shareholder, South East Point, is controlled by the Bahamas-based UK <a href="https://www.tavistock.com/overview/" target="_blank">Tavistock</a> group headed by the aggressive investor Joe Lewis whose stake recently overtook AACo's other major shareholder, the Malaysian-Middle Eastern Felda-IFFCO consortium with a 16.9% stake, given Felda-IFFCo did not take up its entitlement in the September 2013 capital raising.
Tavistock has been on the share register since 2011. 
Other smaller shareholders are David Dixon and Catherine Ramm, Anthony Maurici, Neasham Holdings and Catholic Church Insurance, according to its 2013 annual report. Elders and Peter Holmes à Court are no longer among the 7200 shareholders.
The Australian Financial Review reported when the former AACo chief executive David Farley was departed in July last year, bush rumours started that Lewis wanted to break AACo apart and grab the cash from selling off its land and cattle assets. But AACo chairman Donald McGauchie, the former National Farmers Federation boss, staunchly denied the rumours.
Those rumours have been denied many times by the Tavistock company too.
“We have increased our holding in AACo as a measure of our belief in the company and its endeavours to build a grand and integrated supply chain,” a spokesperson told the AFR earlier this month.
Lewis' total wealth is estimated at $4.2 billion, and he is listed as the 308th richest person on Forbes 2013 List of billionaires. Forbes reports that Lewis is the ninth wealthiest person in the UK, though he spends the majority of his year working from his luxury yacht.
Lewis is the main investor in <a href="https://en.wikipedia.org/wiki/Tavistock_Group" target="_blank" title="Tavistock Group" style="line-height: 1.3em;">Tavistock Group</a>, which owns more than 200 companies in 15 countries. 
Dr. Shehan Dissanayake has been Tavistock's representative on the board as a non-executive director of Australian Agricultural Company Ltd since April 2012. He is a senior managing director and member of the board of directors of the Tavistock Group, the privately held investment company. 
Before joining Tavistock Group in 2002, Shehan was a managing partner of Arthur Andersen.
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Jason Strong, the AACo ’s general manager marketing, was been appointed managing director and chief executive officer in January while in March Troy Setter, the company’s chief operating officer, felt for a job at rival, Consolidated Pastoral Company. 
AACo owns roughly 1% of Australia's land mass. It was in 1824 that AACo was established as a land development company with the assistance of the British Parliament's Crown Grant of 1,000,000 acres in the Port Stephens area of the Colony of New South Wales.
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In 1831, due to the unsuitability of the initial land grant at Port Stephens, a portion of it was exchanged for 101,000 hectares at Warrah on the Liverpool Plains and 127,000 ha on the Peel River, which was to eventually become known as Goonoo Goonoo. Shorthorn bulls were imported from England to develop the company herds.
The company, in its move north selling subdivisions of its southern estates which helped to finance the purchase of Headingly at Urandangie in Queensland in 1916 and Avon Downs in the Northern Territory in 1921.
In 1948, the geographic and enterprise diversification that the company was hastened with the purchase of Rockhampton Downs in the Northern Territory and South Galway in the Channel Country.
In 1950, AACo purchased Brighton Downs on the Diamantina in and, assisted by the Korean War Wool Boom, moved into the East Kimberley region, purchasing the properties Auvergne, Newry, Argyle Downs and Ivanhoe.
In 1963, the company purchased Wrotham Park in North Queensland. However, a period of rationalisation in 1979 saw the sale of the Kimberley Group and the purchase of the renowned Brunette Downs on the Barkly Tableland.
It was 1985 which saw the end of a 160-year ownership with the sale of Goonoo Goonoo on the Peel River which allowed the company to purchase of properties in the Gulf of  Carpentaria, Gregory Downs, Canobie and Dalgonally. In 1987, another Gulf property, Wondoola, was purchased after the sale of Caldervale.
The purchase of a further breeding station, Austral Downs in the Northern Territory followed in 1994. 
In 1996, the New South Wales property, Windy, the last vestige of Warrah, was sold, after a continuous period of ownership spanning 165 years.
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Billionaire Joe Lewis adds more Australian Agricultural Company shares in his knapsack

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

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.

[smartcode_project_cta:default project_id=140755]

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

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

Location and lifestyle drive demand at Candela Ivanhoe

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

AURA elevates amenity living at Melbourne Square

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

Jonathan Chancellor

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