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<p>A leading Melbourne buyers' agent Mal James described the weekend Melbourne prestige auction results as "awful."</p>
<p>The agency attended 33 auctions, with only four houses sold, meaning, he suggested, that prices are continuing to fall.</p>
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<div>"27 of the 33 auctions we covered had zero or one bidder," James said.</div>
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<div>"One or less is not an auction – it’s a charade."</div>
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<div>The Bayside offerings were "holding up surprisingly well .....but Boroondara's Scotch Hill was like a cemetery."</div>
<div> </div>
<div>An auction offering at <a id="LPlnk821905" href="https://www.marshallwhite.com.au/property/64-66-berkeley-street-hawthorn-756872/" target="_blank">64-66 Berkeley Street, Hawthorn</a> (pictured above), with a price guide of $8.7 million to $9.5 million, passed in on a vendor bid of $8.3 million, with no bids.</div>
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<div>The Marshall White marketing said the three level home had a distinctive, vine-clad Mount Gambier limestone facade over two titles.</div>
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<div>"It represented the pinnacle of Scotch Hill living and entertaining," agent James Tostevin suggested.</div>
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<div>There was also an unsuccessful auction five doors away at <a id="LPlnk546864" href="https://www.propertyobserver.com.au/https://www.jelliscraig.com.au/property-details-54-Berkeley-Street-Hawthorn-3122/757534" target="_blank">54 Berkeley Street</a>. It now has a $2,975,000 asking price, having had a $3 million to $3.3 million pre-auction price guide through Jellis Craig.</div>
<div> </div>
<div>Melbourne's top disclosed sale was in South Yarra, where a four bedroom 1920s home was only sold after auction.</div>
<div> </div>
<div>The 5 Gordon Grove offering was sold for $4 million having been passed in at $3.925 million, the only bid after the opening $3.9 million vendor bid.</div>
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<div>The pre-auction price guide had been $3.9 million to $4.29 million.</div>
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<div>There was an undisclosed post-auction sale at South Melbourne where the property was passed in on its only bid of $4.95 million.</div>
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<div>The <a id="LPlnk167861" href="https://www.marshallwhite.com.au/property/46-howe-crescent-south-melbourne-757388/" target="_blank">46 Howe Crescent</a> auction vibe was described as "quiet" by one buyers' agent. </div>
<div> </div>
<div>The price guide had been $5 million to $5.5 million.</div>
<div> </div>
<div>The renovated Hazelwood Terrace offering dates back to its 1864 design by Charles Webb, the architect of the Hotel Windsor.</div>
<div> </div>
<div>There had been an update by Anna Vaughan Architects.</div>
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<div>The highest auction sale in Sydney a house at <a id="LPlnk536597" href="https://chadwickrealestate.com.au/property/house-nsw-wahroonga-10584/" target="_blank">8 Braeside St, Wahroonga</a>, which sold for $5.02 million through Chadwick Real Estate agent Lynette Malcolm.</div>
<div> </div>
<div>Set on almost 2,000sqm of gardens, the double brick five bedroom P&amp;O-style home had 409 sqm of internal living space. There was oversized double lock-up garage designed to house a boat.</div>
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<div>Sydney's next highest sale was <a id="LPlnk615130" href="http://www.ppdre.com.au/selling/NSW/Eastern-Suburbs/Bellevue-Hill/House/1P4474" target="_blank">69A Drumalbyn Road, Bellevue Hill</a> which sold for $5 million through PPD Real Estate.</div>
<div> </div>
<div><img src="https://www.urban.com.au/images/2019/3/4/Clearance%204-03-2019.JPG" alt=""></div>
<div> </div>
<div>There were fewer capital city homes taken to auction week-on-week and year-on-year, Corelogic noted.</div>
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<div>There were 2,204 capital city homes taken to auction returning a preliminary clearance rate of 55 per cent.</div>
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<div>It was slightly lower than last week’s 2,293 auctions, which was the busiest week so far this year.</div>
<div> </div>
<div>Volumes are significantly lower than the 3,026 homes taken to auction over the same week in 2018.</div>
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<div>"Given the combined capital cities posted another month on month decline in home values in February, its expected vendors will remain reluctant to auction their property while selling conditions remain challenging," Corelogic auction analyst Kevin Brogan noted.</div>
<div> </div>
<div>"Year on year volumes will continue to trend lower throughout the year," he added.</div>
<div> </div>
<div>Melbourne's preliminary auction clearance rate of 54.9 per cent was recorded across 1,046 auctions this week, up from the 50.6 per cent final clearance rate last week when</div>
<div>volumes were 1,128.</div>
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<div>Melbourne had the cheapest property reported sold at the weekend, a two bedroom unit at <a id="LPlnk106300" href="https://www.obrienrealestate.com.au/listing-details/residential/28P0433/" target="_blank">5/562 Pascoe Vale Road, Pascoe Vale</a>, which fetched $241,000 through O’Brien Real Estate. There had been $200,000 to $220,000 price guidance.</div>
<div> </div>
<div>It last sold in 2006 at $168,000.</div>
<div> </div>
<div>There were 799 auctions held in Sydney returning a preliminary auction clearance rate of 61.3 per cent, increasing from the 50.1 per cent final clearance rate last week when 801 Sydney homes were taken to auction.</div>
<div> </div>
<div>Adelaide was the best performing smaller capital with a 47.9 per cent success rate.</div>
<div> </div>
<div>There was 44 percent in Canberra and 33 percent in Perth.</div>
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<div>Brisbane was the weakest performing auction market with only 32.9 per cent of homes selling.</div>
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<div>Brisbane saw a post-war house on 810 square metres at<a id="LPlnk116377" href="https://www.domain.com.au/55-alderley-avenue-alderley-qld-4051-2014925055"> </a>Alderley<a id="LPlnk383241" href="https://www.domain.com.au/55-alderley-avenue-alderley-qld-4051-2014925055"> </a>sell for $1,015,000.</div>
<div> </div>
<div>There were nine registered with the opening bid at $915,000 for the tenanted <a id="LPlnk313714" href="https://www.propertyobserver.com.au/https://raywhitealderley.com.au/properties/residential-for-sale/qld/alderley-4051/house/2045272" target="_blank">55 Alderley Avenue</a>.</div>
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<div>It was a $355 rental in 2015. </div>
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jchancellor-FAypfDUnLy

Melbourne's prestige auction results turn awful

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<p>There was keen interest in a non-beachfront house on Mermaid Beach’s Millionaires’ Row on the Gold Coast at weekend auction.</p>
<p>It changed hands for the first time in six decades at $1,771,500.</p>
<p>The Gold Coast Bulletin reported five of eight registered bidders placed 28 bids were placed.</p>
<p><img src="https://www.urban.com.au/images/2019/3/4/Mermaid%202.JPG" alt=""></p>
<p> </p>
<p>The property was announced on the market at $1.75 million and the hammer fell eight bids later to a buyer from Melbourne who already owned nearby.</p>
<p>The three-bedroom house at <a id="LPlnk280068" class="x_OWAAutoLink" href="https://www.prohenderson.com.au/real-estate/property/1042930/46-hedges-avenue-mermaid-beach-qld-4218/" target="_blank">46 Hedges Avenue</a> was a deceased estate that last sold in 1956.</p>
<div>Professionals John Henderson partner Luke Henderson said the buyer was unsure if it would be a holiday house or permanent residence.</div>
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Melbourne buyer secures Hedges Avenue, Mermaid Beach after 60 years

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<p>Property is a critically important asset class as Australian households hold more than half of their wealth in residential property.</p>
<p>Policies that have the potential to affect housing values have a direct bearing on household confidence and then the appetite for consumption versus savings.</p>
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<p>When the ALP negative gearing policy was first unveiled several years ago, Sydney’s residential property market was in a boom.</p>
<p>The landscape is very different now, yet the policy stays the same.</p>
<p>It was pitched as a policy to make home ownership more affordable, which the recent price falls have certainly achieved.</p>
<p>Labor wants to halve the capital gains tax discount and restrict negative gearing to newly built homes, while “grandfathering” existing arrangements.</p>
<p>It calculates the policy would save (and or raise) $32 billion over 10 years.</p>
<p>The proposed changes have contributed a little to the nervousness surrounding the property market, and therefore contributed to the decline in prices.</p>
<p>Ofcourse the anxiety assumes a change of Federal government and then the passage of the policy through the parliament.</p>
<p>There's plenty of feared impacts should the policy to become law.</p>
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<p>While the proposed changes to negative gearing and also to capital gains tax will only apply to investments purchased after any policy change, there are going to be huge impacts on investment behaviour.</p>
<p>There are some impacts quietly at work now, while other impacts are coming down the track.</p>
<p>Some investors will now be buying established housing as the purchase will be able to be negatively geared and also avoid the higher capital gains tax on any resale.</p>
<p>After the policy comes in, there would be a period of inactivity as investors appraise the new landscape and initially avoid new housing purchases. Historically investors have a marked preference for established housing as it is cheaper.</p>
<p>Investors would also refrain from selling investments at the higher capital gains tax in the hope that there would be a return to a Coalition government who'd possibly scrap the policy.</p>
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<p>Not withstanding the CGT impact, the biggest concern is the policy would likely reduce the overall supply of property in the rental market, and trigger a rise in rents.</p>
<p>Rental accomodation is essential for one-third of Australian households.</p>
<p>No one really knows the full behavioural outcomes of investors, but Australians are unconvinced by the flagship Labor reform with 44 percent against the policy change.</p>
<p>Voters are also against the mooted change on capital gains tax on investments, with 48 per cent against.</p>
<p>The Opposition leader Bill Shorten has noted that the tax reforms were not “universally loved.” That would because some 2.1 million Australians have a rental property.</p>
<p>“I would rather see more young couples buy their first home, than spend billions subsidising investors acquiring multiple properties,” Shorten argues.</p>
<p>“All of the experts know that with scarce taxpayer dollars it’s better to put money into health and aged care than give a tax subsidy to someone buying their sixth or seventh investment property,” Mr Shorten said.</p>
<p>The last time I looked there were only 20,023 Australians with an interest in six or more investment properties. </p>
<p>According to ATO statistics some 71 per cent of Australians with rental properties had just the one investment.</p>
<p>There's going to a lot of upheaval to get stuck into the 20,023.</p>
<p>Maybe the solution should be, without retrospectivity, simply limit claims to just one negatively geared policy.</p>
<p><em>This article first appeared in </em>The Daily Telegraph.</p>
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Let every Australian investor negatively gear just the one property 

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<p>Malcolm Gunning, the former president of the Real Estate Institute of NSW and the Real Estate Institute of Australia, will face court next month to answer one charge of being a licensee who contravened the rules of conduct that apply to licensed real estate agents.</p>
<p>NSW Fair Trading has commenced legal proceedings against the former REIA President Malcolm Gunning and his wife Alice Gaye Gunning for the conduct of their real estate business Guncom Pty Ltd ACN 105 217 874 (the Company), which is a Surry Hills based commercial property orientated estate agency that operates in Sydney's southern suburbs.</p>
<p>Mr Gunning told the ABC that both he and his wife would be "vigorously defending" the court proceedings.</p>
<p>Mr Gunning acknowledged that a deficit of as much as $288,000 had appeared in the property management trust fund, but that the money was returned.</p>
<p>Mr Gunning said that the problems resulted in significant changes to how the business was run.</p>
<p>"The whole property management staff were completely replaced," he said.</p>
<p>Mr Gunning faces a potential fine of about $5,000 if convicted, and his case returns to court for a mention on March 7.</p>
<p>Mr Gunning and the company’s matters are next before the Parramatta Local Court on 7 March 2019.</p>
<p>Ms Gunning has been charged with numerous offences including breaching rules of conduct that apply to licensed real estate agents, failing to have trust account records audited and trust account fraud. Ms Gunning’s matter is next before the Parramatta Local Court on 21 March 2019.</p>
<p>His wife, Alice, faces five charges that relate to her conduct between October 2012 to December 2016 as a director of Guncom, the family company that owned their real estate business, Gunning Real Estate.</p>
<p>Fair Trading has accused her of knowingly commissioning a corporate offence by the corporation between October 2012 and June 2016, by fraudulently converting $278,237.29 – that was to be held in trust pending completion of transactions, to the use of her corporation.</p>
<p>She has been charged with one count each of being an agent making use of service provider not as prescribed, failing to properly supervise persons engaged in business, being a licensee who contravened the rule of conduct, failing to cause trust account records to be audited as required and fraudulently converting more than $5000.</p>
<p>Fair Trading alleges Mr Gunning failed to ensure his corporation’s trust was properly maintained and audited prior to December 2016 and that he failed to read the auditor’s reports in February 2017 for the financial years 2013-16 and as such failed to know that the account was in deficit.</p>
<p>It alleges Mrs Gunning was aware the property management trust account was in deficit since about June 2012.</p>
<p>Mr Gunning faces a maximum penalty of $5500 and the case is scheduled for March 7 at Parramatta Local Court. </p>
<p>Mrs Gunning faces a maximum of 10 years’ jail or a fine of $49,500. Her case will be mentioned at the same court on March 21.</p>
<p>Their first court attendance notice was last December.</p>
<p>Mr Gunning was president of the Real Estate Institute of NSW between 2014 to 2016. He went on to become president of Real Estate Institute of Australia from December 2016 to late 2018.</p>
<p>The couple was first put on notice in a compliance blitz by Fair Trading in February last year., Fairfax Media reported.</p>
<p>The business was fined $3300.</p>
<p>Mr Gunning was reprimanded for breaching the Property, Stock and Business Agents Act.</p>
<p>Following the same blitz, Mrs Gunning’s licence was cancelled.</p>
<p>She was disqualified from holding another for four years.</p>
<p><span>Gunning's principal Malcolm Gunning has over 30 years experience in real estate agency.</span></p>
<p><span>He told the REB industry website </span>that he was not the licensee at the time.</p>
<p>“When I was made aware of it, I immediately took back control of the business.</p>
<p>"I effected those changes including changing all the staff, worked with Fair Trading to make sure all the systems were in place,” he said.</p>
<p>None of the clients of Guncom were disadvantaged, Mr Gunning said, as any shortfall was paid back by him.</p>
<p>“None of our clients were disadvantaged cause any money that at the time was a shortfall was paid back by me,” he said.</p>
<p>“New procedures, new staff, no one’s disadvantaged, but we were fined, and now we’ve got to face not only the press but these other proceedings. Which we are vigorously defending,” he said.</p>
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Former REI president Malcolm Gunning faces court over trust account irregularities

<p>A Dolphin Point home will go under the hammer in March after receiving a make-over by the team from Foxtel&rsquo;s Selling Houses Australia.</p>

<p><span>Perched on the headland, with panoramic ocean views, the 1960s beach house has been transformed by the team of designers.</span></p>

<p><span>They added a contemporary feel but retained the retro vibe of the property on Seaside Parade.</span></p>

<p><span>[smartcode_project:default project_id=30049 project_image_fid=162884]</span></p>

<p><span>The sleepy hamlet south of Ulladulla has been a hive of activity throughout February as teams of tradespeople worked their magic under the guidance of designer Shaynna Blaze and gardening expert Charlie Albone.</span></p>

<p><span>Foxtel&rsquo;s Selling Houses Australia host Andrew Winter has been exploring the area.</span></p>

<p><span><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/25/Dolph2.jpg" /></span></p>

<p><span>The Raine &amp; Horne Mollymook Milton agent Ben Pryde will auction the&nbsp;property&nbsp;on March 23.</span></p>

<p><span>Pryde said he was excited to have the make-over team in Dolphin Point, working with homeowners Steve and Serena Blakey.</span></p>

<p><span>&ldquo;It&rsquo;s been a whirlwind, but loads of fun,&rdquo; he said.</span></p>

<p><span>&ldquo;The show will really showcase our region as a jewel on the South Coast and the weather has been absolutely perfect for every day of filming other than a spectacular storm in the final hours of the renovation.&rdquo;</span></p>

<p>Mr Pryde said more than 60 parties inspected the property before the make-over, with more than 80 turning out for the reveal last weekend.</p>

<p>The Selling Houses Australia episode focusses on the lives of Steve and Serena Blakley and their four kids, who have loved the last 15 years living on the coast.</p>

<p><img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/25/Dolph3.jpg" /></p>

<p>It&rsquo;s been a wonderful place for the couple to raise kids and indulge their passion for surfing, but a few years ago their world was rocked when their youngest son contracted encephalitis (inflammation on the brain).</p>

<p>The family are selling up to fund his treatment but, after&nbsp;12 months on the market, the property still hasn&rsquo;t sold.</p>

<p>Prior to the make-over, the Selling Houses Australia team described the home as &ldquo;dated, mismatched and needing a lot of small maintenance jobs&rdquo;.</p>

<p>&ldquo;This is one family that desperately need our help.&rdquo;</p>

<p>The&nbsp;<a data-auth="NotApplicable" href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=AqX%2Fyxxn%2FCsKfNEzXNs%2BvxKe7ZZW379%2BIapVVCHkcj06tGRioNXHyeuLBhl6q6izqj%2FvASlSUJqBmaPgZslF%2BTU6OAk5d%2FywLkkLd%2B20tTdFRy2fNumWYIFMYLhR9rHyXn%2F5ZEd%2BilE%3D&amp;G=0&amp;R=https%3A%2F%2Fmaps.google.com%2F%3Fq%3D45%2BSeaside%2BParade%2BDolphin%2BPoint%26entry%3Dgmail%26source%3Dg&amp;I=20190221051014.000000d54961%40mail6-60-usnbn1&amp;X=MHwxMDQ2NzU4OjVjNmUzMmI0MWNmNjEwYTZmNDM4OTEwNjs%3D&amp;S=tACA-s78FDVKndhlaWUGqp5MOwnDaLA2yM_lyWovye0" id="LPlnk633125" rel="noopener noreferrer" target="_blank">45 Seaside Parade Dolphin Point</a>&nbsp;episode will be the finale for the series, streaming on Wednesday, May 29 at 8:30pm.</p>

<p>There have been just five sales above $1 million at Dolphin Point since 2013, with three of them last year.</p>

<p>This article was first published in the Sunday Telegraph.&nbsp;</p>


Dolphin Point makeover set for Foxtel’s Selling Houses Australia

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<p class="x_first-para">The Rose Bay harbourfront trophy home of property developer Stephen Burcher was passed in at weekend auction on a bid of $23.25 million.</p>
<p class="x_first-para">It ranked as the highest bid ever made at a home auction, but it fell short of the $25 million being sought by its <a id="LPlnk574384" class="x_OWAAutoLink" href="https://theagency.com.au/17211/20b-tivoli-avenue-rose-bay" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">listing agent Ben Collier, of The Agency</a>.</p>
<p class="x_first-para">Sydney’s previous auction record of $23 million was set by the sale under the hammer of the Le Manoir estate in Bellevue Hill in 2009.</p>
<div class="x_in-content-ad">
<div id="x_adspot-1x1-pos-5" class="x_ad">
<div id="x_google_ads_iframe_/31694718/domain.com.au/news/prestige_3__container__">The Rose Bay auction reportedly had just the one bidder, a local Chinese family.</div>
<div> </div>
</div>
</div>
<div class="x_in-content-ad">There were four or so other interested buyers for the three-level residence redesigned by architect Bruce Stafford, amid landscaped gardens by Anthony Wyer.</div>
<div class="x_in-content-ad"> </div>
<div class="x_in-content-ad"><a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/Subscriber%20strip%20ad.jpg" alt=""></a></div>
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<p>The five-bedroom, five-bathroom battle-axe residence is set on a waterfront block with a boat shed and pool.</p>
The highest residential sale in Sydney was <a id="LPlnk229640" class="x_OWAAutoLink" href="http://www.ppdre.com.au/buying/NSW/Eastern-Suburbs/Waverley/House/1P4472" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">10 Seaview Street, Waverley</a> (below) which sold for $4.3 million through Phillips Pantzer Donnelly inconjunction with Richardson &amp; Wrench. </div>
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<div class="x_in-content-ad"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/25/Waverley.jpg" alt=""></div>
<div class="x_in-content-ad"> </div>
<div class="x_in-content-ad">The four bedroom property last sold at $470,000 in 1994.</div>
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<div class="x_in-content-ad">There had been $4 million price guidance with the $4.3 million reserve paid by its only registered bidder.</div>
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<div class="x_in-content-ad">Sydney was again the stronger of the two major auction capitals, hosting 795 auctions with preliminary results showing a 58.6 per cent clearance rate, up from 54.6 per cent across 523 auctions last week. </div>
<div class="x_in-content-ad">
<p>Over the same week last year 1,259 homes were taken to auction across the city returning a clearance rate of 65.1 per cent.</p>
<p>There were 1,144 auctions held in Melbourne this week with preliminary results showing a clearance rate of 53.1 per cent, increasing from last week when the final clearance rate was recorded at 52.5 per cent across 657 auctions. </p>
<p>Over the same week last year, the auction clearance rate was significantly higher with 70.6 per cent of the 1,606 auctions returning a successful result.</p>
<p>Melbourne's top revealed price was in Middle Park at $3,645,000 (below).</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/25/Middle.jpg" alt=""></p>
<p>The price guidance had been $3 million to $3.3 million for <a id="LPlnk906991" class="x_OWAAutoLink" href="https://www.marshallwhite.com.au/property/144-canterbury-road-middle-park-756132/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">144 Canterbury Road</a>. There were four bidders.</p>
<p>The four bedroom brick Edwardian home last sold at $400,000 in 1992. </p>
<p>A Toorak home was passed in at $3.66 million, and sold after auction at undisclosed price.</p>
<p>Melbourne has the nation's cheapest advised sale when <a id="LPlnk36591" class="x_OWAAutoLink" href="https://www.realestate.com.au/sold/property-apartment-vic-moonee+ponds-129899770" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">904/19 Hall Street, Moonee Ponds</a> sold for $300,000.</p>
<p>The one bedroom unit was sold pre-auction through Frank Dowling Real Estate who had $300,000 to $320,000 price guidance.</p>
<p>It last sold at $400,000 in 2014, according to CoreLogic. </p>
<p>It is located on the ninth floor of the One9 apartment complex.</p>
<p>Across the smaller auction markets, Brisbane and Canberra were the only cities to see a rise in clearance rates week-on-week, while auction volumes increased everywhere except Perth and Tasmania over the week.</p>
<p>There was a $2.39 million sale in Adelaide, which had the strongest clearance sitting in the 60s. </p>
<p>The $2.39 million sale was three bedroom house at <a id="LPlnk398154" class="x_OWAAutoLink" href="https://www.realestate.com.au/property-house-sa-glenelg+north-130005010" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">21 North Esplanade, Glenelg North</a> (below).</p>
<p>It was a <a href="/news/mortgagee-secures-2-39-million-glenelg-north-trophy-home-sale">mortgagee offering</a> through Jamie Brown at Bernard Booth.</p>
<p><img src="https://www.urban.com.au/images/2019/2/25/GLenelg%202.JPG" alt=""></p>
<p>The new beachfront residence came with some 600sqm of living space with views of Gulf St Vincent across three levels.</p>
<p>Auction clearance rates, albeit preliminary with many results yet to be advised, remained resilient despite the jump in auction stock.</p>
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<p>The national auction volumes across the combined capital cities rose above 2,000 for the first time this year, according to CoreLogic.</p>
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<p>There were 2,303 homes taken to auction across the combined capital cities returning a preliminary auction clearance rate of 54.1 per cent, while the prior week saw auction volumes at 1,450 auctions held and a 51.2 per cent clearance rate. </p>
<p>Over the same week last year, 3,313 auctions were held and a clearance rate of 66.8 per cent was recorded.</p>
<p>Last week’s final clearance rate marked the second week in a row where the final clearance rate held above 50 per cent, an improvement given the weekly auction clearance rate sat at or below 42 per cent for 5 consecutive weeks in November/December 2018, Kevin Brogan, the CoreLogic auction analyst noted.</p>
<p>"It will be interesting to see how clearance rates hold up now that auction volumes have started to pick up.</p>
<p>"The seasonal pattern over previous years has seen a similar bounce back in the auction clearance rate in February through to mid-to-late March before trending lower into autumn and winter.</p>
<p>There is a later Easter this year which will see a clear run through to late April.</p>
<p>"Considering advertised stock levels remain high and most other indicators are soft, it’s possible a similar weakening trend in auction markets will become evident next month," Brogan  tipped.</p>
<p>The number of properties pulled from auction remains high with CoreLogic calculating 67 were withdrawn from weekend Sydney auction.</p>
<p>There had been progressively more withdrawals every Saturday so far this year with 12 on February 2; 26 pulled on February 9 and 42 on February 16.</p>
<p>The redundant Malabar home of My Kitchen Rules judge Pete Evans and wife Nicola Robinson was among from <a href="/news/mkrs-pete-evans-withdraws-his-malabar-from-weekend-auction">withdrawn from weekend auction</a>. </p>
<p><a id="LPlnk629852" class="x_OWAAutoLink" href="http://www.ngfarah.com.au/20363275/97-austral-street-malabar" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">The five-bedroom house</a> is still up for sale through Peter Goulding and Nick Ujvary of NG Farah Little Bay.</p>
<p>The couple have built a new home nearby.</p>
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Weekend auction success rates remain resilient, but no record auction sale on Rose Bay

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<p><span>Vaucluse, the historic 1830s Georgian homestead at Conara, south of Launceston, remains offered for sale, just three years after its last sale.</span></p>
<p>Now Vaucluse sits on 38 hectares which feature gardens with a pool and a gazebo overlooking the South Esk River.</p>
<p>The Midlands residence previously sat on a 2654 hectares, but the trophy home parcel has been subdivided since its $20 million sale in 2015.</p>
<p>The Conara farm was bought by US food and agricultural conglomerate Cargill, whose Australian rural interests include Billabong Station in the NSW Eurongilly Valley, the Temora aggregation in Southern NSW and the sugar cane Marwood Farm at Mackay, Queensland.</p>
<p>Now under the control of Proterra Investment Partners after a corporate break up, the company initially considered converting the Conara homestead into visitor accommodation to help pay for the upkeep.</p>
<p>The rustic set of stables has been restored as accommodation too.</p>
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<p>Vaucluse comprises 10 bedrooms, each with ensuite.</p>
<p>There's a commercial kitchen, formal dining room and a number of living and entertaining areas.</p>
<p>CBRE Agribusiness agents James Beer, Duncan McCulloch and Danny Thomas are marketing the property.</p>
<p>The imposing trophy home with slate room was possibly built in the 1830s to a design by Robert Bostock, adding to an earlier two storey section erected in 1820.</p>
<p><span><span><span>In 1847 John </span><span>Bayles bought Vaucluse from the trustees of Robert Bostock’s </span><span>estate for £9,000. Bayles was a magistrate for the district.</span></span></span></p>
<p><span><span><span>Longtime owners of the Georgian home were the McKinnon family from 1918 to the mid-1990s when they were caught in the insurer Lloyd's of London collapse which affected a number of wealthy Tasmanians.</span></span></span></p>
<p>Before Vaucluse's last sale, Michael and Susie Warner ran around 14,000 merino sheep and 400 Angus cattle. They also grew potatoes, poppies, grass seeds, canola and cereals.</p>
<p>It featured in their daughter, Georgina's book, Country Houses of Tasmania. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/25/Vauc3.jpg" alt=""></p>
<p>Author Georgia Warner and photographer Alice Bennett on the private colonial estates was published by Allen and Unwin in 2009.</p>
<p>At the time the Tasmanian Heritage Council chairman Michael Lynch noted Tasmania had more colonial heritage per capita than anywhere in Australia as historic buildings in Victoria and NSW were knocked down in prosperous times </p>
<p>Georgian homes in Tasmania have enduring popularity.</p>
<p>The Lake House, arguably Tasmania's finest Georgian home, sold last year for $9.3 million, a state record.</p>
<p>It sits amid the six sales of Georgian homes in Tasmania that have transacted for over $1 million.</p>
<p>This article was first published in the Weekend Australian.</p>
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Vaucluse on Tasmania's Midlands still for sale

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<p id="ext-gen37">Sid Morgan, the Hills Shire, Sydney estate agent, suffered serious head injuries after a shot to his forehead in an incident on a Point Cook cul de sac last Thursday evening.</p>
<p>Two men have been questioned by Victoria Police over the shooting that left Morgan fighting for life in the Royal Melbourne Hospital.</p>
<p>Sid Morgan, 53, was shot in the head in Spraypoint Drive at Point Cook about 11pm.</p>
<p>Neighbours said they heard an argument before a gunshot went off.</p>
<p>Security cameras captured a ute rushing from the cul de sac.</p>
<p>Three white cars were dusted for prints. </p>
<p>Police have not yet revealed the motive of the crime. </p>
<p>Investigators have spoken to a 29-year-old Point Cook man, located at Nagambie, north of Melbourne, and a 30-year-old man in Point Cook.</p>
<p>They were later released pending further inquiries.</p>
<p>Members of the police search and rescue team were set to search the lake at Sanctuary Lakes as part of the investigation.</p>
<p>Morgan promoted himself as <a href="https://www.realestate.com.au/agent/sid-morgan-1907894" target="_blank">The Hills number one agent</a> having been an estate agent since 1997.</p>
<p>His website profile suggests Sid has personally held records in five different suburbs at the one time.</p>
<p>He prompted himself as an agent with a 'Never Say Die' attitude.</p>
<p>His record prices have included a <a href="https://www.realestate.com.au/sold/property-house-nsw-bella+vista-126245378" target="_blank">2017 Bella Vista sale at $3,335,000</a>.</p>
<p>His last sale according to the realestate.com.au website was at Cherrybrook last September.</p>
<p>Throughthe years he has secured sales ranging from a $4.5 million sale at Newport on the northern beaches to $3.35 million at Sylvania Waters in Sydney's south.</p>
<p>The Sunday Herald Sun reported he had been travelling between Melbourne and Sydney where he was still working as a real estate agent. </p>
<p>Property Observer saw Morgan two weeks ago at a Lane Cove open for inspection of a $8 million seven-bedroom home which was targeting the Chinese buyer, by keeping as many lucky number eight's as possible.</p>
<p>The price guide has been dropped from $8.8 million, which it was when listed last year, to $8,088,000.</p>
<p>The home previously sold at a suburb record when paying $4.25 million three years ago.</p>
<p>The late 1980s home, built from double brick and suspended concrete slab construction, has been opulently renovated throughout.</p>
<p>It has five bedrooms, five bathrooms, a fully self-contained guest quarters and a five car, auto entry garage.</p>
<p>It sits in 1,810 sqm of private resort style grounds which feature a floodlit, championship size tennis court with incorporated basketball court, a solar heated swimming pool and a gym.</p>
<p>The tennis court is one of only a few in the whole suburb.</p>
<p>The marketing says the process of obtaining council approval to turn the property into four luxury three level townhouses with internal lifts is well underway.</p>
<p>Sid Morgan operated Morgan One Stop Realty at Castle Hill, then Morgans.</p>
<p>He launched an innovative virtual office at Castle Towers in 2006.</p>
<p>His virtual office was set to consist of a centralised administration office which Sid Morgan refers to as the mother ship, and satellite offices.</p>
<p>Morgan says each satellite office will consist of a four-workstation unit which can be located in any high pedestrian traffic area.</p>
<p>He had won a Hills Excellence In Business Award for his interactive real estate displays at the front of his office.</p>
<p>The machines, about the size of an ATM, was able to provide buyers with a complete interactive tour of the property.</p>
<p>"I was one of the first agents in Australia, and the first in the Hills district to start using this technology,'' he noted in 2005.</p>
<p>His website noted he ran Morgans Foundation of Hope a charitable organisation having publicly commit 8% of the companies gross turnover to the foundation.</p>
<p>Morgan was a former detective acquitted of murder.</p>
<p><span>Said Morgan was a detective in the New South Wales police force, and had become aware of allegations that his brother-in-law, Mansour Suha, had been sexually molesting three young girls, including two of Morgan’s relatives. </span></p>
<p><span>Morgan, then known as Said Morgan, was accused of the shooting murder of his brother-in-law, Mansour Suha, on 26 May 1995 at a home at Oakhurst.</span></p>
<p><span> He was not convicted for the killing, because he believed the lives of the children who had been molested were in danger.</span></p>
<p>He was acquitted of murder and later reinvented himself as a real estate agent.</p>
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Hills Shire, Sydney estate agent Sid Morgan shot at Point Cook

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<p>One apartment of the 390 in the notorious Opal Tower has been bravely offered for sale.</p>
<p>But there's been no offers since it was listed 10 days ago.</p>
<p>Sy Realty Sydney agent Joe Wang told The Telegraph "our clients asked us to test the market".</p>
<div>Wang, who has been selling at Sydney Olympic Park for three years said their timing was "challenging."</div>
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<div>He declined to suggest a likely selling price, although he hoped the final report of the State Government on the building's cracking, may trigger a more positive sentiment. </div>
<div>
<p>The 81 sqm unit (below and bottom) with an enclosed balcony and study cost $757,000 in 2014.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/25/Opal1.jpg" alt=""></p>
<p>The listing was taken down from listing websites after just a few days as the agency decided it was better to take prospective buyers from their database through the two bedroom, level 15 offering.</p>
</div>
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<p>There were nine apartments for sale before the cracks started to appear and residents were evacuated on Christmas Eve. </p>
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<div>"We expect more apartments will come up for lease than for sale," he said.</div>
<div>
<p>Sy Realty agents Du Yang and Nick Ling are seeking a $500 a week tenant for a one bedroom apartment on level 22 of the cracked building.</p>
<p>Agents have indicated their expectation that owners will take a big hit on sale prices.</p>
<p>The last settled apartment in the block, a month before the cracking, was when a one bedroom apartment fetched $640,000.</p>
<p>It was just up on its $637,000, 2014 off the plan price.</p>
<p>The Opal Tower developer, developed by Ecove, was designed to be the tallest in the Sydney Olympic Park precinct, boasting 360 degree views across Sydney.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/25/Opal2.jpg" alt=""></p>
<p>The development was completed in last August, with off the plan sales ranging from $505,000 up to $2.498 million, which ranks as the record price for the precinct.</p>
<p>Even before the cracking, Sydney Olympic Park Authority noted in its recent annual report that demand for new apartments in the precinct had "dropped significantly."</p>
<p>"Whilst previously strong demand for new stock saw excellent take-up of apartments in new residential projects, market reporting and pricing corrections across the residential property market saw this demand drop significantly."</p>
<p>"As a result enquiries have slowed significantly compared to previous years, and may well continue to do so over the next few years."</p>
<p>Opal Tower at 1 Brushbox Street was built in the shape of an equilateral triangle with curved corners.</p>
<p>The 117 metre high trophy building was very popular with buyers of Chinese origin, many of whom bought off the plan in 2014 and 2015.</p>
<p>This article was first published in the Daily Telegraph.</p>
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One apartment in the notorious Opal Tower bravely for sale

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<p>The NSW Government today released the final report from the independent investigation into Opal Tower. </p>
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<p>It has recommendations about ensuring qualified people design buildings and that buildings are built to those designs.</p>
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<p>The biggest recommendation in today’s report is about registering engineers.</p>
<p>“We will be working through the detail of today’s report with our new Building Commissioner to make sure that when homeowners are handed over the keys to a new building, it is safe, structurally sound and free from major defects," Minister for Planning and Housing Anthony Roberts said.</p>
<p>The report came after Professors Mark Hoffman, John Carter and Stephen Foster were asked to consider the cause of the structural damage to the Opal Tower on Christmas Eve.</p>
<p>The report advised security camera footage showed the cracking in the bottom corners of the bottom panel (Panel A) on Level 10 with the time stamp on this video recording indicated that the cracking of the panel commenced at approximately 2.16 pm on Monday 24 December 2018 and continued for approximately 8 seconds.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/22/Crack2.jpg" alt=""></p>
<p>“Our final report confirms that a number of structural design and construction issues, including non-compliance with national codes and standards were responsible for the observed damage at Opal Tower.</p>
<p>“We found some of the as-constructed hob beams and panel assemblies were under designed according to the National Construction Code and Australian Standards, leaving the beams prone to failure.</p>
<p>"We also found construction and material deficiencies likely contributed to the damage to the hob beams on levels 4 and 10.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/2/22/Hobb-Crack.jpg" alt=""></p>
<p>“We consider that the building is overall structurally sound and the localised damage to the building can be rectified to ensure the building is compliant with the National Construction Code.</p>
<p>"We agree in principle with the rectification works planned to date, noting that these have advanced considerably since our interim report was released.</p>
<p>"However, we repeat our call for qualified structural engineers to check the final design and construction proposals in detail before major rectification works begin and before the building is deemed completely safe for occupancy, while noting the reoccupation of the building extends beyond the scope of our investigation and is a matter for residents and the builder."</p>
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<p>It confirmed most, if not all, major columns in the building had been designed so that their maximum axial load carrying capacity far exceeded the design loading imposed on them, indicating a very high factor of safety to these critical elements. </p>
<p>However, a preliminary analysis of the splitting forces near the interface with the two hob beams reviewed (Level 4 – grid line A and Level C -grid line C) indicates that this aspect of the design should be confirmed by a qualified engineer for all such features.</p>
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<p>It found no evidence contradicting their interim assertion that the building is overall structurally sound, although there is significant damage to some elements. </p>
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<p>It advised it was notable that the observed damage was constrained to the inside facing of the hob beam; the outside of the hob beam at the critical section was supported by a lateral garden bed wall (Figure 16) built integrally with the slab and against the hob beam.</p>
<p>This wall likely provided support to the outer side of the hob beam forcing the damage inward where such support was lacking.</p>
<p>The damage remained “hidden” until exposed on 27 December 2018 after removal of an internal wall in the adjacent apartment. </p>
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<p><span>The site observations of the damaged beam are consistent with a bursting failure.</span></p>
<p><span>"There are contradicting views and documentation as to the design strength of the hob beam concrete on Level 4. </span></p>
<p><span>"Notwithstanding, 65 MPa concrete was understood to have been poured during construction as it was specified for the puddle pours in the slab around the columns and it was considered expedient to use the same batch of concrete when pouring the hob.</span></p>
<p><span>"During our investigations, and subsequent to the issue of our interim report, records of strength for the concrete used to construct the hob beam were provided to us. </span></p>
<p><span>"These reveal 28 day strengths of these concrete samples as 50 MPa, where 65 MPa concrete was ordered for supply, indicating that the concrete in the hob may also have been of a lower strength. </span></p>
<p><span>"Our independent analysis of concrete core testing samples, extracted and tested in January 2019 by Mahaffey Associates, did not contradict this observation.</span></p>
<p><span>"Clearly, this mis-match in design strengths points to a possible and unfortunate ambiguity in the interpretation of the design documentation."</span></p>
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<p>The report noted that extreme environmental events, while rare, could precipitate further damage and consequently it would be prudent not to delay rectification works.</p>
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<p>It formally noted: </p>
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<p><span>The as-constructed hob beam / panel assembly was under-designed, according to the National Construction Code (NCC) and the Australian Standard for Concrete Structures (AS3600</span><span>1</span><span>), at a number of locations in the building. This left the hob beams susceptible to failure by shear compression and bursting.</span></p>
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<p><span>The decision, taken after the initial design</span><span>, to grout only partially the joints between the hob beams and panels, significantly raised the levels of stress in the hob beams on levels 4, 10, 16 and 26.</span></p>
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<p><span>Construction and material deficiencies likely precipitated the observed major damage to hob beams on Level 10-C (electrical conduit and reinforcing steel in the cover region, and a panel repair) and Level 4-A (lower strength concrete than used in hobs elsewhere and partial grout coverage).</span></p>
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<p><span>The observed damage in the concrete panel at Level 10 and in the Level 10 floor slab was likely a consequence of the adjacent hob beam failures and not the original cause of the damage observed at Level 10.</span></p>
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<p><span>It formally advised making the Opal Tower safe for occupancy</span></p>
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<p><span>Appropriate rectification works can address deficiencies in the original, as- constructed, structural design and ensure the building is compliant with the NCC.</span></p>
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<p><span>Significant rectification works are necessary to ensure that the building and all its structural components satisfy the NCC and specifically the current AS3600- 2018</span></p>
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<p><span>The damaged hob beams should be rectified to provide the required load carrying capacity.</span></p>
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<p><span>Other hob beam / panel elements of similar as-constructed, structural design may not comply with the NCC and AS3600-2009 and, if so, will require rectification works. We also recommend checking of the forces in other structural elements adjacent to the hob beams, such as the columns.</span></p>
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<p><span>We agree </span><span>in principle </span><span>with the rectification works planned to date, noting that these have advanced considerably since our interim report was released but have yet to be agreed by all parties and independently certified.</span></p>
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<p><span>     10. We recommended that a detailed analysis be undertaken of the potential redistribution of loads from the damaged elements to ensure that other newly loaded building elements, before and after rectification works, have suitable capacity and to avoid future damage. A preliminary analysis has been carried out and indicated structural loads satisfied the NCC in the non-damaged parts of the building structure. Nevertheless, this finding should be robustly and independently verified.</span></p>
<p><span>     11.We recommend that all designs and construction associated with the rectification works be checked and certified as safe for building occupancy by qualified independent structural engineers.</span></p>
<p><span>     12. The viability of residents re-entering the building extends beyond the structural issues considered here and hence beyond the scope of this investigation. Nevertheless, we would recommend that items 9-11 listed above be completed prior to re-occupation.</span></p>
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<p>A full copy of the final report is available at: <a href="https://protect-au.mimecast.com/s/qP8qCzvkvEsGQKRWf4z48_?domain=planning.nsw.gov.au" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://protect-au.mimecast.com/s/qP8qCzvkvEsGQKRWf4z48_?domain%3Dplanning.nsw.gov.au&amp;source=gmail&amp;ust=1550870647570000&amp;usg=AFQjCNHpF5H2J5EYpQ-qQwaxqaNGSMtc2Q">https://www.planning.nsw.gov.au/finalopalreport</a></p>
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NSW's apartment construction reform set to follow the devastating eight seconds of Opal Tower low strength concrete cracking

<p>Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.</p>

<p>Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;</p>

<p>David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;</p>

<p>“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;</p>

<p>[smartcode_project:default project_id=110291 project_image_fid=302785]</p>

<h2>Affordable product leads, premium demand remains resilient</h2>

<p>Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;</p>

<p>Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;</p>

<p>At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.</p>

<p>Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.</p>

<p>Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;</p>

<p>[smartcode_project:default project_id=148957 project_image_fid=364102]</p>

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

<p>Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.</p>

<p>David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.</p>

<p>“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;</p>

<p>Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.</p>

<p>[smartcode_project:default project_id=108869 project_image_fid=317905]</p>

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

<p>While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;</p>

<p>Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;</p>

<p>However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.</p>

<p>Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;</p>


Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<p><a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.</p>

<p>The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.</p>

<p>Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.</p>

<p>“Brisbane was the right step for Sammut,” Sammut said.</p>

<p>“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”</p>

<p><img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" /></p>

<p>Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.</p>

<p>The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.</p>

<p>“We are DA approved now which is very exciting,” Sammut said.</p>

<p>“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”</p>

<p><img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" /></p>

<p>Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.</p>

<p>“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.</p>

<p>The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.</p>

<p>“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”</p>

<p>The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.</p>

<p>The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.</p>


Sammut secures approval for debut Brisbane apartment development in Toowong

<p>Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.</p>

<p>Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.</p>

<p>The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.</p>

<p>“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.</p>

<p>“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.</p>

<p>“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”</p>

<p>The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.</p>

<p>“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”</p>

<p>From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.</p>

<p>“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”</p>

<p>The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.</p>

<p>“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.</p>

<p>Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.</p>

<p>“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.</p>

<p>“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”</p>

<p>The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.</p>

<p>“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.</p>

<p>Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.</p>

<p>&nbsp;</p>


Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

<p>Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.</p>

<p>The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.</p>

<p>It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.</p>

<p>With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.</p>

<p>“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.</p>

<p>“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”</p>

<p><img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" /></p>

<p>GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.</p>

<p>“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”</p>

<p>Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.</p>

<p>“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.</p>

<p><img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" /></p>

<p>&nbsp;</p>

<p>One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.</p>

<p>Green praised local policy settings.</p>

<p>“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”</p>

<p>One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.</p>

<p>“The way we will be able to achieve economies of scale is through size,” Green added.</p>


One Living enters Sydney's new apartment market with Northern Beaches site acquisition

<p>It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.</p>

<p>Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.</p>

<p>Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be</p>

<p data-end="683" data-start="511">"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.</p>

<p data-end="882" data-start="690">"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."</p>

<p data-end="882" data-start="690">[smartcode_project:default project_id=134646 project_image_fid=6109]</p>

<p>The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.</p>

<p>The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.</p>

<p>Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.</p>

<p>[smartcode_project:default project_id=134646 project_image_fid=6110]</p>

<p>Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.</p>

<p>The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.</p>

<p>[smartcode_project:default project_id=134646 project_image_fid=6116]</p>

<p data-end="247" data-is-last-node="" data-is-only-node="" data-start="0">While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.</p>

<p>WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.</p>

<p>With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.</p>

<p>[smartcode_project_cta:default project_id=134646]</p>


Jonathan Chancellor

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