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Vitamin king-turned tourism tycoon Vaughan Bullivant has sold his Brisbane beachfront for $5.3 million through Professionals Woody Point Real Estate.
The sale at 116-124 Prince Edward Parade is <a href="/news">Redcliffe</a>'s highest sale.
It's the biggest sale in selling agent Marilyn Madden's 40-year real estate career which included the first million plus sale in the suburb in 1985.
She says said the buyer was a Brisbane businessman who intended to live in the stately six-bedroom, four-bathroom house, which sits on the border of the bayside suburb of Scarborough. It was initially listed in late 2012 when reports gave its replacement value as $10 million..
{qtube vid:=JefxJWKQ9xA}
The 4,000 square metre beachfront site that has 68 metres of beach frontage with views of Moreton Bay.
The grounds have a resort-style pool, a spa, a waterslide, entertainment gazebo and tennis court.
There was also a replica Georgian-style cubby house that has previously been named as being among the Top 10 Cubby Houses in Australia, a sand pit and a play gym.
“The peninsula is largely surrounded by water from all sides and this create a shortage of land, which limits the level of housing supply," Marilyn Madden says.
“During the GFC prices did fall but we didn’t experience the big falls that other beachfront areas suffered and there was no shortage of buyers.”
There were two neighbouring mansions constructed by Bullivant in 2000 following the sale of his Nature's Own vitamin business for $137 million to FH Faulding in 1999.
Bullivant started the business in an old tin shed on the Redcliffe Peninsula in 1995, transforming it into a major packager and wholesaler with a turnover of several million dollars a year.
The two properties came to be known as the "His and Hers" mansions – one occupied by Bullivant and the other by his former wife, Carmel.
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jchancellor-FAypfDUnLy

Vaughan Bullivant secures $5.3 million Redcliffe beachfront trophy home sale

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Mining magnate Nick Curtis and wife Angela - now empty nesters - have listed their trophy Woollahra abode.
<a href="https://bradfieldcleary.com.au/4144844/133-Queen-Street-Woollahra" target="_blank">The Queen Street house </a> last traded in 2004 when bought from the 2SM radio broadcaster John Laws and wife Caroline for $7.7 million.
Laws had purchased the 961 square metre Queen Street property in 1981 for $264,000 and then commissioned Espie Dods to design a two-storey house, with separate staff quarters and garaging for six cars, behind its high fence.
The high fence is still the same, but the house has been renovated by the Curtis couple while keeping the integrity of the Dods work. Apparently the expansive terrace delivers year-round alfresco entertaining. 
There is also a separate two bedroom cottage.
All just footsteps from all the village amenities. 
Nick Curtis has been leading Lynas Corporation since mid-2001 with a career spanning more than three decades in the resources and finance industries.  Curtis has serves as a governor of the Mining and Metals Industry Partnership Group at the World Economic Forum.
It has been listed with expectations in the vicinity of $12 million through BradfieldCleary agents Bob Guth and Georgia Cleary who are marketing it as "a blue ribbon retreat with comfort and convenience."
They even suggest it's "arguably Sydney's finest non-waterfront residence."
But taking nothing away from it, Title Tattle will argue with them on that! Maybe finest village residence?
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
 
 
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Mining magnate Nick Curtis lists Queen Street, Woollahra residence

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"I will buy back into real estate when there is a second crash," Harry Dent told me this week.
The bold forecaster - who is speaking this Friday and Sunday at a <a href="https://secureyourfuture.com.au/?gclid=CKv92bbZx7wCFUEgpQodpX8AyQ" target="_blank">Sydney event and then Brisbane on the February 21 weekend</a> - had been asked whether his money had ever been on the line over the past few tumultuous decades.
"Both short-term and long-term I am ahead because I sold in Florida in 2005,"  he said indicating he had since been a long-term renter, but would buy back into the US property market when he saw it as being the right time.
With some liquid cash, his acquistion path was more likely to be sent on shorting stocks on US markets before property.
He also continued to invest in new technology as a venture capitalist, fully expecting nine or 10 to fail, but the one that succeeds outperforming the losses elsewhere.
Interestingly Harry does own a holiday home - in Puerto Rico - where he has been underwhelmed by the housing construction work ethic.
I asked him about how hard it was to be always out there on the left field with his forecasts.
He said it was sometimes tough being the contrarian.
"But I am neither bullish or bearish, not conservative or liberal," he said.
"I study bubbles," he said.
"When everyone is in a bubble, most can't see it, when the markets are at their lows, they can't see the recovery...and that's when there is money to be made," he said.
"Sometimes it is a little lonely being early... after my Japanese forecast everyone was asking what was I smoking."
That's the forecast he his most proud of  as most economists envisaged Japan overtaking the US in world economic dominance. Dent tipped that Japan, then on top of the economic world, would suffer a slowdown lasting more than a decade. It is still pretty much in a coma, he says, 22 years after the 1991 peak.
"Commercial real estate goes down harder, and tends to be the last to come back where as a lot of people stay in their home," he said.
"You can't keep bubbles from bursting for ever."
He says the one thing he does better than anyone else was forecast the major long term shifts.
Last week Dent made headlines when he remarked that the <a href="https://www.propertyobserver.com.au/news/property-crash-is-like-popping-popcorn-especially-in-melbourne-harry-dent/2014020567560" target="_blank">property market is like popcorn popping</a> - different markets bursting at different times.
He says Australia doesn't have quite the demographic cliff problem as the US and Europe. But there was the risk of the expansionary China collapse to hurt Australian property prices.
He sees the international commodity cycle as not bottoming for a decade.
"There is no way there will be a soft landing in China." he suggests even if the government seeks it. 
"China's blow will really hit Australia," he says.
Asked on his hit and miss success rate, Dent was forthright.
"I am likely to get 30 or 40% of forecasts wrong in the timing," he said. His US critics point to his 2005 forecast that the Dow would hit 40,000 by the end of the decade. His local critics point to his 2011 call that property in Australia was set to crash.
Saying it often can be just one piece of information that can provide the clue, his late 1980s Japanese forecast was based on his premise that people slow in spending way ahead of retirement, from 46 years onwards.
I asked how much understanding the pysche of the population of a city or country was helpful in understanding market movement, and he agreed.
"You are right, yes markets do go up and down together, but to different degrees.
"But the bubble will be here and there, say Melbourne and Brisbane."
Harry is the founder and senior editor at Dent Research, where he seeks to identify and study demographic, technological, consumer spending and geopolitical trends to forecast economic booms and busts well ahead of the mainstream.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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Harry Dent will buy back into property after next bubble burst

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It's almost like a cuckoo taking over a nest.
The ABC boss Mark Scott tweeted his slight exasparation at the television watching habits of his household. It seems they are huge followers of the Channel 9 renovation series, The Block.
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It's not all 3 daughters watching The Block that frustrates. It's that they often watch at different times. Home has a Scott Cam soundtrack.
— Mark Scott (@mscott) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/mscott/statuses/433183764093497344">February 11, 2014</a>
</blockquote>
Mark Scott has a five bedroom 1930s house on Sydney's north shore.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
 
 
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Mark Scott The Block cuckoo in the ABC nest: Tweet of the day

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The former adman Nick Condon and his wife, the interior designer Kate Beadle have listed their Victorian residence in Malvern.
The couple have renovated and extended the Victorian home at <a target="_blank" href="https://www.50mckinleyavenue-malvern.com">50 McKinley Avenue</a>. Behind its classic Hawthorn brick facde with tessellated verandah, it comes with four bedrooms plus fitted study.
Andrew Hayne of Marshall White expects more than $3 million at its March 1 auction.
It comes with a mix of formal rooms - with dark oak floors which connect the old and new with gourmet kitchen and double height ceiling living room that opens to a north facing landscaped garden.
{qtube vid:=NKCLY7uJdLk}
The home, in a tree-lined location close to schools, Glenferrie Road and Malvern station, sits in a garden dominated with a liquid amber.
Now with chance to pursue their passion for small property project development, the couple are set to undertake another building project just around the corner.
Condon retired as managing director of DDB in Melbourne last year, having started and finished his advertising career at the ad agency which had clients including Heinz and Kmart.
The couple, from around 1990, have undertaken many prior small works scattered across inner east
During their first decade, or so, together they renovated three flats, a house and built 18 Nottingham Street, Prahran, which was designed by architect Chris 
The Malvern property was bought in 2007 for $2.06 million at auction.
RP Data puts the median house price for <a href="/news">Malvern</a> at $1.45 million, down 6% over the past year.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
 
 
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1899 Malvern home listed by former adman Nick Condon

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Sydney's ultimate trophy apartment offering has now been officially listed for sale by the Maloney hotelier family.
It comes with the Michael Suttor-design and then Michael Love-decor fitout of the 715 square metre space - and $30 million plus hopes through LJ Hooker Double Bay agent Bill Malouf, inconjunction with Sydney Sotheby's International estate agent Michael Pallier.
Oh...and a $130,000 annual strata levy.
But the $130,000 strata levy is not Sydney's highest.
Top of the list, that I am aware of, is the $12.5 million penthouse atop The Hyde, the Stockland residential tower in Liverpool Street overlooking Hyde Park.
The two-storey penthouse has strata fees of $142,000 a year which was a real drag on buyer interest when offered initially with $20 million plus hopes through Christie's International agent Ken Jacobs.
With 570 sqaure metres of internal space and 312 square metres of external space, the four-bedroom penthouse (with a rooftop terrace, 15-metre lap pool and extensive harbour views) was sold in 2010 by Marie Bolton, whose fortune was made through marketing electronic whiteboards.
The two-storey residence  set a benchmark for luxury in the city occupying levels 34 and 35 of The Hyde wiith interiors designed by Archer + Wright.
In Elizabeth Bay, the former chairman of the Future Fund, David Gonski had a lowrise harbourfront penthouse - the one with a putting green which was quietly sold last month through Ballard Property Group's Clint Ballard, inconjunction with Michael Pallier of Sotheby's International.
It last traded when bought for $12 million from former Deutsche banker Hal Herron in 2012.
The levies in the luxurious small development on Billyard Avenue - with a harbour-front pool, and almost 24 hours of the concierge - are high for all seven units. But I gather the penthouse strata levy sits at $130,000. It was around $80,000 a year in levies back in 2000.
But penthouses don't have to have enormous fees.
Potts Point's latest offering is the penthouse of the publican Chris Crawley (pictured below) after receivers PPB Advisory took possession.
{yoogallery src=[images/stories/2014/02/11/pot]}
Crawley developed The Georgian on Macleay Street in 2010, retaining the three-bedroom 680 square metre triplex penthouse with pool. Jason Boon and Andrew Hodgett of Richardson and Wrench Elizabeth Bay has been telling inspectees it's<a href="https://www.realestate.com.au/property-apartment-nsw-potts+point-116039307" target="_blank"> likely to fetch somewhere between $10 million and $11 million.</a> It's annual strata levy is just short of $20,000.
The Maloney whole 11th floor amalgamation in Sydney's 1 Macquarie Street Bennelong complex had been <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/11th-floor-bennelong-trophy-apartment-set-to-test-the-2014-prestige-market/2014012367356">tipped last month</a> to be offered given the desired downsizing by the vendors, the Maloney family.
Levies are dearer for all residents where there is 24-hour concierge-security. Then add multiple lifts, swimming pool, gym, sauna, steam room and spa.
It's certainly an emerging issue as by 2030, it is estimated that about half the population of Sydney will be living in strata homes.
Strata buyers must be wary of new developments especially with off the plan strata estimates.
There are rough rule of thumb estimates on levies on an apartment as levies are worked out according to a unit's entitlement, which set according to NSW law at the time the building is built. Initially tied closely to the potential value of each apartment.
Levies in building without luxury services should be around 0.5% of the value of the apartment.
More prestige blocks will have annual levies that could easily exceed 1% of the value of the apartment.
With the median Sydney price of $550,000 that would $2,750 be about a year,
A $1 million apartment would set you back between $10,000 a year.
Levies should equate to the value of the apartment - reflecting the size, position and aspect along with the level of service.
Older buildings possibly need higher maintenance as most buildings need to be painted every seven to 10 years, carpets replaced between 10 and 15 years, and the life span of elevators and cooling systems is 20 to 30 years.
The difficulty of finding prestige buyers for apartments with high annual strata fees is perhaps one of the reasons why there has been a recent shift in thinking by developers on what to do with the upper level space.
They are increasingly giving up the penthouse space in favour of rooftops with communal facilities for all the building’s residents.
Moatly pools, but also cinemas, even dining rooms. Gyms ofcourse, barbecues and spas are being installed on rooftops, instead of another prestige apartment or two.
Developers concluding that in some cases communal facilities can make commercial sense by increasing their returns.
Legacy Property and Alceon Group’s Montrose project in North Sydney will include a rooftop deck and cinema.
The Rise tower at Parramatta will offer residents barbecue facilities.
In Brisbane’s Bowen Hills, Chrome Properties’ Code apartment development, completed in 2011, includes a rooftop deck, with city views, which allows residents to hold big private events that their small apartments may not be able to accommodate at the Cottee Parker-designed development.
At Hamton’s three-stage riverside project at Victoria Street, Abbottsford, the three buildings – Eden, Haven and Sanctuary – have unique rooftop facilities.
At Eden, residents can access spas, barbecues and a movie room.
Sanctuary features a garden cinema.
Haven includes an outdoor lounge and plots where residents can grow vegetables. 
Chris Hayton, of architects behind the project, ROTHELOWMAN, has indicated the practice has included libraries, and even bowling greens in rooftop communal spaces.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
 
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Sydney's Toaster testing trophy sky mansion market given $130,000 annual strata levies - How much should the down to earth pay?

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Standby for the expats return.
Any extended dip in the Australian dollar will undoubtedly ensure wealthy Australian expatriates look more keenly at buying back home.
There's a trickle of early movers already, but it's not yet a race or chase.
Quite simply, despite the misleading print headlines, prestige prices haven't recovered like the rest of the market, so the timing of the expats will also benefit from their previous restraint.
Likewise many will find continued cheaper offshore financing opportunities if they seek them out.
In the meantime they mull over a website for international expats which recently named the world's most expensive cities to live in, with six Australian cities (Sydney, Brisbane, Melbourne, Perth, Adelaide and Canberra) all within the top 26.
It is possible in ignorance a few might overpay for their property acquisition.
Indeed that seems to have occured only last week when a mystery buyer spent about $12 million on a<a href="https://www.propertyobserver.com.au/trophy-homes/kahala-the-12-million-clareville-home-sale-with-boat-thrown-in-bouys-the-pittwater-market/2014020467527" target="_blank"> Clareville beachfront property, Kahala</a> for very close to its asking price.
I recall the same happened with the 2010 Palm Beach purchase by the hedge fund manager Paul Henry and his wife, Belinda who paid $14 million for the Hayson family's lavish modern residence on a 1,575 square metre block in Pacific Road.
Expat Paul Henry was from the Jersey-based, but Asia-focused, hedge fund Bennelong Asset Management. Before launching Bennelong in 2004, Henry worked at Standard Bank London Limited, spent seven years at Macquarie Bank Limited and also traded at Peregrine Investments HK, Horizon Asset Limited and at Credit Suisse after graduating from the University of Sydney.
The Melbourne buyers' agent Damien Taylor of the Morrell &amp; Koren agency recently suggested prestige buyers were doing their homework.
"While the plums are quickly picked, bruised fruit is usually left to fall — and while at first sight there appears to be much to choose from, the plums are still scarce," he advised.
James Buyer Advocates have reported there certainly seems to be more buyer interest coming from off-shore, "and in Boroondara that mainly means overseas buyers from China or ex-pats returning home from Hong Kong or Singapore or even further afield, with a view to return home for the kids to go to school."
Ken Jacobs, of Christies, said he wouldn't be surprised if the Elaine, Double Bay buyer were an expat.
CommSec economist Savanth Sebastian told AAP last month that the increased presence of expats and foreign investors would "most likely" push property prices higher.
"Australia's starting to look a lot more attractive from a foreign investment perspective with the falling currency and that will probably show up more in the property market than anywhere else," Savanth Sebastian said.
Richardson &amp; Wrench Mosman agent Robert Simeon noted that the world’s biggest money manager BlackRock sees Australia’s dollar falling 10% as a result of disappointing economic growth reporting in 2014 which would then see the RBA cut its cash rate to 2.00%.
"There would be a number of expats hoping this to be the case as they have been sitting waiting for the Australian dollar to start declining," Robert Simeon wrote last week on his blog.
While there were some prestige Mosman sales purchases to Chinese buyers, Raine &amp; Horne Mosman agent, Brendan Warner has detected an increase in interest above the $10 million coming from expats along with visitors from England.
Meanwhile signs of expats emerging among a few recent sales showed up when a Paddington four-bedroom terrace sold for $3 million last  month to a London-based expat through McGrath agent Ben Collier. "We are certainly seeing more inquiry with the .uk address," he told Property Observer.
In Whale Beach, a five-bedroom Beauty Drive house fetched $1.9 million when reputedly sold sight-unseen to a Singapore-based expat through Peter Robinson, of LJ Hooker Palm Beach. Weekenders at Killcare have also been attracting interest from Singapore-based expats.
And the purchases aren't all at the pricey end of the market. 
Lee Paul, the principal of Raine &amp; Horne New Farm, Brisbane has sold a former-Brisbane expat executive a cute, renovated cottage at 77a Clay Street, New Farm, for $780,000.
“The cottage, which is built on a 200 sqm block and comes with a pool, was on the market for $760,000, and received 80 enquiries, as well as multiple offers,” says Ms Paul.
“It sold in 10 days to a London-based, Brisbane-born executive, who plans to live in the property on her return to Australia.”
A New York-based expatriate spent $1,305,000 in Bondi Junction, pre-auction above the $1.2 million initial price guidance through Jason Pantzer of the Phillips, Pantzer Donnelley agency.
In late 2012, Property Observer <a href="http://propertyobserver.com.au/ebooks/free-ebook-20-top-tips-for-australian-expats-thinking-of-buying-homes-this-summer" target="_blank">published a much-downloaded eBook</a> written specifically for Australian citizens who were residents of another country by the veteran personal finance and property journalist Michael Laurence.
When seeking out buying tips and warnings the buyers’ agents David Morrell warned that some vendors regard Australian expatriate buyers as "wood ducks", or easy targets.
Morrell says some unfortunate expat buyers unwittingly send a clear message to vendors that they have plenty of money, are poorly informed about the local property market and have little time to inspect properties.
His advice is straightforward: "Slow down, take a Panadol, and do your due diligence on the market".
Shayne Harris, head of residential for international agency Savills Australia, says he tries not to disclose to vendors that a would-be buyer is an expatriate.
Harris says vendors may jump to the conclusion that the expatriates have plenty of money.
"It makes a very difficult negotiation, because some people think they can afford to pay anything.
"We often say to vendors, ‘The reason they have money is because they don’t pay silly money for things’."
PS: For those expats who have been out of the country too long, a "wood duck" is an Australian term for an easy mark, and in some cases useless bastard. The term emerged in the 1970s and was used by car salesmen to denote an easy mark. 
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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Wood duck season? Expats set to fly back into Australian residential property

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Built by Canny Builders with resort style living in mind, the four year old award winning Canterbury contemporary residence of Lynette and Alan Knights has been listed for sale.
The Melbourne vendors are seeking $3 million plus.
It’s the fifth home built by the couple and exhibits well considered cutting edge design integrated with high-end finishes. These include in-floor heated alfresco with gas fireplace and retractable glass bi-fold doors.
It was designed by Attilla Csaplar with a U-shaped lap pool surrounding a deck made of spotted gum. 
Access can be via the four car space basement garage with dumb waiter.
There's also the 80 dozen capacity cellar.
It is three bedrooms with limestone en suites plus study - so the couple are ready to downsize, or perhaps even renovate a new property. Alan is retiring from his position as chief financial officer from a silver mining company.
The 1 Dryden Street, Canterbury offering goes to February 22 auction through Kay &amp; Burton agent Scott Patterson in conjunction with Jellis Craig agent Paul Williamson.
Damian Canny, managing director of higher-end home builder Canny, recently noted improved consumer confidence.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
 
 
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Canny contemporary Canterbury offering by five-time veterans

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Kippilaw, the Breadalbane homestead, well known to anyone with an interest in NSW colonial history, has been listed for sale again.
But this time its via an online auction through Meares &amp; Associates, with bids to be placed between March 10 and March 12.
{yoogallery src=[images/stories/2012/09/sept27outkipp]}
Initially Meares &amp; Associates, the rural property specialists,  were expecting a $6 million plus sale for the Goulburn district holding. But that was spring 2012. The opening online bid will be $3.75 million, with interested parties required to register prior to bidding.
Its history stretches back 180 years to when James Chisholm and his wife, Elizabeth, moved to the NSW southern tablelands district, taking up a grant of 1,280 acres (518 hectares) given to her as a marriage portion from Governor Ralph Darling , a custom begun by Governor Lachlan Macquarie for settlers on their marriage.
Elizabeth named their 1837 Georgian residence after her birthplace in Scotland, Kippilaw, near Melrose Abbey.
Its meaning comes from "Kippi" which is Pictish for "little", and "law",which is Saxon for "hill". The homestead became a meeting place and party house for visiting friends. Mary Durack, in her seminal Australian pioneering history, Kings In Grass Castles, devoted several pages to the generosity of the Chisholms at Kippilaw.
The restored house comes with views of the Wollondilly River and gardens in the Italian manner.
Agent Chris Meares also oversaw the last sale when in 1997 Janet and Graham Webb sold the farm to businessman Robert Rich and his late wife Helen in 1997 for about $2.6 million.
The Webbs bought nearby Wollogorang, another historic property, one built by the English sea captain Henry Edenborough in the 1840s, on more farming land than Kippilaw.
Kippilaw is a viable working farm with 400 acres (about 160 hectares) of quality breeding and fattening country, which have been well fertilised and pasture improved over the years. It grazes and fattens 160 cattle on the pastured acres, supplemented by winter grazing crops.
The prize holdings within a 2¼ hour radius of Sydney comes with a restored homestead - a two-storey, six-bedroom stone house comprising four separate wings with a central courtyard.
{yoogallery src=[images/stories/2012/09/sept27inkippilaw]}
It was built from locally convict quarried stone with crafted cedar joinery.
It comes with the Old Kippilaw School House.
The Kippilaw gardens comes with oak trees line as old as the house that line the driveway.
It's described as an easy care garden with its in-ground computerised irrigation system from the Wollondilly River and backup bore.
The gardens comes with tennis court and nearby in-ground swimming pool with small pool house.
There's the sunken garden built by one of the Chisholm boys during WWI and the historic rose garden, supplemented by carpets of daffodils, jonquils, iris, peonies and roses with a spectacular wisteria and rose archway.
It also includes a separate self?contained two bedroom apartment and the 1810 caretaker’s cottage.
The Meares agency has had limited success to date with auctionsworkonline, with just the one sale of its past seven listings. Last December it secured the $2.25 million sale of 3370 Sturt Highway, Wagga Wagga, a flood irrigation/grazing holding called, Kabinga.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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Kippilaw, the rural NSW Georgian homestead, ventures into the digital age with online March auction

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Weekend volumes rose on February's second Saturday auction spree and Sydney's success rate followed - up at 84.4%.
The preliminary Sydney figure come from 212 results of the 290 offerings this weekend.
The trend of higher volumes will test the market all through February.
But Dr Andrew Wilson, the senior economist for Australian Property Monitors, anticipates low, and still-falling, interest rates from rising competition among banks, together with restored confidence, will underpin buyer activity over the autumn selling season.
After late results, Sydney first clearance rate of the year of 80.3% last weekend, February 1 was actually revised down to 77.5%, though roughly inline with the spring 2013 success rate.
APM had Melbourne's clearance rate at 75.6% this weekend.
The preliminary APM Melbourne results come from 176 of the 260 estimated offerings this weekend.
Melbourne's first February weekend recorded an initial metro auction clearance rate of 73.6%, which APM increased to 74.1% after late results from the February 1 weekend, and almost identical to the 73.2% average weekend rate recorded over the spring selling season.
But the weekend Melbourne result - or momentum direction - was actually not clear as the REIV had a clearance rate of 68% today. And unlike APM, the REIV preliminary result today was down on the REIV's revised 72% total for last weekend, and also down on its preliminary 75% Saturday night result on February 1.  There were 230 auctions reported to the REIV today, February 8 although the REIV had indicated it had been expecting around 390 auctions this weekend, another key difference between the two Saturday night data providers.
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RP Data noted in Melbourne, Australia’s largest auction market, there were 334 auctions in the past week, including Saturday February 8, up from 104 the previous week. Melbourne’s preliminary auction clearance rate was recorded at 68.8%, compared to 74.7% last week, RP Data indicated.
Across Sydney, the auction clearance rate was recorded at 81.2% over the past week across 358 auctions, while over the previous week there were 121 Sydney auctions with a clearance rate of 75.0%, RP Data noted.
Residex indicated it collected 91% of all auction sales across the Sydney metro for Saturday February 8 and concluded there was a 79% clearance rate.
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On the weekend, Sydney's inner west hosted the highest number of Sydney auctions with 49 scheduled including <a target="_blank" href="https://www.propertyobserver.com.au/news/ac/dc-house-and-guitar-sells-for-%24132-million-in-lilyfield/2014020767625?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">the Lilyfield home of former AC/DC guitarist Mark Evans</a>.
The south had 39 auctions, followed by the upper north shore with 35 and the south west 22, APM indicated.
Wahroonga on the upper north shore and Balmain in the inner west each had six offerings followed by Strathfield, always a strong auction generator, with five offerings. Strathfield took away the weekend's highest sale - 6 Long Street (pictured below) through Devine Real Estate at $2,280,000.
{yoogallery src=[images/stories/2014/02/10/str]}
Melbourne’s west hosted the highest number of auctions with 59 scheduled this weekend.
The outer east sat next with 43 auctions followed by the south-east with 38 and the inner bayside 33, APM indiacted.
Glen Waverley in the outer east with eight followed by Preston in the north east and Dandenong in the south east each with six were the busiest auction suburbs this weekend.
APM had the highest Melbourne sale as 25 Gordon St, Elsternwick (pictured below) through Biggin &amp; Scott at $1,222,000.
{yoogallery src=[images/stories/2014/02/10/els]}
But the REIV had the highest sale as $1,480,000 for 4 Ian Road, Mount Martha (pictured below).
{yoogallery src=[images/stories/2014/02/10/martha]}
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Increasing auction volume barely sates weekend auction appetite in Sydney, but mixed messages amid Melbourne results

<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. 
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The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

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<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
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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. 
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"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

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"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
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"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

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PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
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"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. 
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"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

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Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
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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. 
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As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

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Joel Robinson

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

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The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

[smartcode_project:default project_id=140755 project_image_fid=366267]

The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

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The enduring appeal of Kew's tree-lined streets and village lifestyle

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

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

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

Jonathan Chancellor

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