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Auburn had the biggest metropolitian ­increase in land values - soaring by 16.1 per cent - as the latest issuance of land valuations took land across NSW to a record $1 trillion.
The NSW Valuer-General had residential land values for NSW up by 3.21 per cent, compared with an overall 0.24 per cent decrease for the previous year.
Sydney's inner west and middle ring western suburbs continued to notch up the biggest metropolitian increases.
Auburn's 16.1 per cent rise was followed by Ryde up 9.6 per cent, then Marrickville up 9.5 per cent, Ashfield up 9.2 per cent and Parramatta up 8.8 per cent.
Investors have been eyeing off Auburn, with Property Observer noting one pre-Christmas <a target="_blank" href="https://www.propertyobserver.com.au/news/auburn-studio-sells-for-%24141000-reflects-922-yield/2013121666965">sale reflecting a 9% gross yield</a>. According to the <a style="font-size: 14px;" target="_blank" href="/news">latest RP Data report</a>, the median unit price in Auburn is around $360,000, up 12% on last year. One unit is not going to put the landlord above the land tax threshold, but if it was among a portfolio, the investor could be paying land tax for the first time given the hefty rise.
The family home is not taxed or included in any combined total of a property portfolio.
The land tax threshold sits at $412,000 in the 2014 land tax year, up from the $406,000 threshold last tax year. It means despite the small 3.21% percentage rise more second home owners will fall into the tax net given there was only a 1.4% bracket creep shift in the threshold.
<a target="_blank" href="https://www.apps08.osr.nsw.gov.au/erevenue/calculators/landtax.php#anc_calc">Land tax is $100 plus 1.6 per cent of the land value of investment properties above the $412,000 threshhold.</a>
New valuations have been issued on annual and tri-annual determinations based on a rotating system through the state's local government districts.
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Some 26,020 notices of valuation were issued to landholders in the Ryde local government area (LGA) having last occurred as at 1 July 2010.
The new total land value of the Ryde LGA was $21.29 billion as at 1 July 2013, an overall 11 increase from the total land value of approximately $19.12 billion determined as at 1 July 2010. The report found residential properties generally experienced a moderate increase in land value with the exception of some areas around Ryde and North Ryde which experienced slight increases and properties in Denistone which generally experienced strong increases.
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Some 53,014 fresh notices of valuation have been issued to landholders in the Bankstown local government area with the total land value at $25.02 billion, an overall 15% increase over the three years from 1 July 2010.
“The increase in the Bankstown LGA was primarily due to an increase in residential land values as a result of higher demand than supply, contributed to by lower interest rates," the Valuer General said.
Holroyd's 27,591 new valuations jumped 11% over the tree year period to $11.06 billion as at 1 July 2013.
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The land valuations will be used by the NSW Office of Revenue to calculate the land tax property investors will pay this year. 
The tri-annual land valuations are used by councils to calculate their fresh rates.
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“Changes in land values don’t necessarily lead to similar changes in rates," the NSW Valuer-General Philip Western said.
He further suggested increases in most land tax assessments may be modest with the prior two flat valuation years being taken into account in the calculation. For 2007 and subsequent tax years, the value used to determine land tax liability is the average of the land value for the current tax year and the land values for the previous two years.
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But Mr Western acknowledged the increase was a sign of the recovering market, in his reponse to queries from Sydney's weekend papers.
Prestige suburbs were however subdued in their land valuation growth. The premium land tax threshold at $2,519,000. Land values in Woollahra municipality fell another 3.1 per cent to a median of $1.23 million. Woollahra median land values are down from the 2007-2008 high of $1.47 million. The Manly market was also soft.
The Mosman local government area had the state's highest ­median residential land value at $1.3 million with the Central Darling credited as the lowest at $1200. 
The biggest increase in rural values occurred in Bourke (19.3 per cent),  Brewarrina (11.6 per cent) and Murrumbidgee (10.2 per cent).
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Tenterfield experienced the largest decrease in overall values for the 12-month period with total land value decreasing by 10.02 per cent.  The Great Lakes local government area experienced an 8.6 per cent drop to $148,000.
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The biggest increases in coastal land value were in Kiama (5.2 per cent), Yass Valley (5.1 per cent), Newcastle (2.7 per cent) and Wyong (2.6 per cent).
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The value of 2.4 million properties around the state exceeded a record $1.003 trillion.
“This is the first time that the state’s total land values for rating and taxing has exceeded a trillion dollars,” Mr Western said.
Every year approximately one third of Local Government Areas (LGA) receive new valuations to assist with their rates modelling. Some 774,000 notices of valuations will be sent to ratepayers in 57 LGAs this month, showing the value of properties based on market conditions as at 1 July 2013.
news@propertyobserver.com.au
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jchancellor-FAypfDUnLy

Sydney's Auburn leads growth in land values across NSW: Valuer General

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Are formal dining rooms requisite in new build homes?
That's the discussion topic this Australia Day weekend around our barbecues, our property commentators Jonathan Chancellor and Margie suggest. He says no, she says yes to their continuation.
HE SAYS <img height="225" width="150" src="/images/stories/2013/09/06/jc-silhouette-5.jpg" alt="jc-silhouette-5" style="float: right;">
Formal dining rooms are almost a thing of the past  - gone with the nightly whole of family dinners and the special Sunday roasts around the formal table.
But Margie's deep love of the formal dining room makes her the perfect dinner party guest for the uncompromising historian, Dr James Broadbent, reminising about the days of our pioneer settlers over cucumber sandwiches at his intact 1809 home, The Cottage, Mulgoa.
Perhaps recalling the shipment by William Charles Wentworth in 1845 of his imposing Gothic oak sideboard for the dining room at Vaucluse House.
The darkened formal dining rooms date back to those London-originating pattern books for Australian domestic use that started to fall from favour around the time we released they didn't come with the requisite verandah.
Australian homes now embrace openness and light, although the need and success of a formal dining room can depend on its size of the house and location.
I'd suggest Bishopscourt in Darling Point will always need one, for instance, no matter who becomes its next owner.   
<img height="627" width="470" src="/images/stories/2014/01/24/he-said-jan-24-one.jpg" alt="he-said-jan-24-one">
The dining room at Bishopscourt, Darling Point.
But it's now all about the pursuit of function over form these days with the vast Vaucluse house (pictured below) recently completed by Andrew Ipkendanz the current scene stopper. <a target="_blank" href="/news">It is up for sale through Alison Coopes</a>.
Its open-plan kitchen, living and dining area, looking squarely down the harbour, is ideal for relaxed Australian-style dining, however the lack of any formal dining room in the Carrara Road home has been described by some as an "idiosyncrasy."
{yoogallery src=[images/stories/2014/01/23/vau1]}
Indeed its absence could be a sales sticking point, one prestige agent has suggested.
“There’s a type of buyer who will say that having a formal dining room is a requirement they’re not prepared to compromise on. It’s a gamble,” Christie’s agent Ken Jacobs says.
Ipkendanz acknowledged in a recent Australian Financial Review article the no fomal dining room decision was a “big departure” from the norm, but having lived and built in locations around the world as far spread as Brazil, Italy, France’s St-Jean-Cap-Ferrat and London, he was adamant the home had been built the way a home located in Sydney, Australia, should be.
{yoogallery src=[images/stories/2014/01/23/vau2]}
“I just don’t think people in this environment need a formal dining room. We’ve got a kitchen table that is five metres long and a huge outdoor terrace. I know when they use the home they’ll realise the kitchen and living space is so magnificent, it’s the only place they’ll want to be,” he said.
Of course there is a vast caterer's kitchen carefully planned to be close to the dining table, yet out of sight.
<img height="225" width="150" src="/images/stories/2013/09/06/mb-silhouette-4.jpg" alt="mb-silhouette-4" style="float: left;">SHE SAID
I have a penchant for formal dining rooms. But I agree with Jonathan, a formal dining room in a home depends on its size of the house and location.
For instance, big beach houses typically don’t need a formal dining room – an open-plan kitchen and spacious dining zone is much better suited to a modern beach house.
Formal dining rooms suit large modern suburban homes and those in rural lifestyle areas, like the Southern Highlands and Mount Macedon. Sitting down to dinner with family and friends in a room specifically designed for eating and entertaining (and separate to the kitchen) is not only enjoyable, but also provides a sense of style and occasion.
With contemporary residences, a formal dining room doesn’t need to have four walls - it can open from the formal sitting area, or indeed flow onto a large outdoor terrace.
But I can’t imagine owning a Toorak or Bellevue Hill mansion and not having a formal dining room.
Certainly formal dinners are a traditional social obligatory among owners of large homes on Sydney’s upper North Shore, which is the domain of the NSDP (North Shore Dinner Party). In this neck of the woods, where good restaurants are few and far between, couples emulate Martha Stewart (or Nigella Lawson before her recent divorce) by hosting friends at carefully planned three or four course dinners in the formal dining rooms of their homes.
Currently for sale in Pymble Road, Pymble are a series of four new residences - <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-pymble-115039631">two with formal dining rooms (82A and 82B) and two (82C and 82D) without</a>. Each measuring about 350 square metres internally, these large Pymble homes are for sale at $2.8 to $2.9 million through Jenny Zhang of Century 21 West Pacific.
Granted however with smaller new houses, formal dining rooms don’t feature.
Home World’s website provides pictures, descriptions and floorplans for a wide range of new open plan residences including Masterton Homes’ double-storey <a target="_blank" href="https://www.homeworld.com.au/homes/merlot-elite">Merlot Elite</a>. Gone is the formal dining room, and in with the new norm including the downstairs home cinema and the upstairs lounge room.
{yoogallery src=[images/stories/2014/01/24/mer]}
As the Home World website says the Merlot offers the ultimate, imaginative use of space providing separate areas and zones which tick all the boxes required for family living; home theatre, secluded study, open-plan living and kitchen flowing onto al fresco dining and entertaining and a fantastic family bedroom and living upper floor area.
Over the years, I’ve seen a wide array of formal dining rooms, mostly in grand mansions and penthouses on the north shore and in the eastern suburbs.
Among the most impressive were the Joye's dining room at <a target="_blank" href="/news">Barford, Bellevue Hill</a>. The <a target="_blank" href="/news">Princeton penthouse</a>, Double Bay – decked out by doyen Leslie Walford - was also special. I simply adored the dining room formality of this mansion while visiting Bali recently (pictured below), away from the coast amid paddy fields. And of course the one in the as yet unsold <a target="_blank" href="https://www.propertyobserver.com.au/news/bishopscourt-darling-point-for-sale-for-probable-%2425-million-plus-hopes/2013090264719">Bishopscourt in Darling Point </a>where I snapped jonathan recently! 
<img height="352" width="470" src="/images/stories/2014/01/24/she-said-jan-24-two.jpg" alt="she-said-jan-24-two">
news@propertyobserver.com.au
 
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Do Australian homes need the formal dining room? He Said/She Said

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The rugby league legend Norm Provan, one of the two iconic figures on the NRL premiership trophy, is selling his hinterland retreat at Diamond Valley on Queensland's Sunshine Coast.
Some $2.25 million is being sought by Norm and his wife, Lynne. It's truly a substantial sized home with the total gross floor area of 1016 square metres.
It has five bedrooms, six bathrooms, a bar, library and two offices. It has a wraparound verandah on top level and alfresco entertaining deck on ground level
There is travertine marble tiling along with a circular jarrah staircase. There is a a lap pool at the tri-level, 1016-square-metre home.
<a href="https://www.realestate.com.au/property-acreage+semi+rural-qld-diamond+valley-115671275" target="_blank">The 22 hectare holding has been listed through Ray White agent Ben Wilson</a>.
{yoogallery src=[images/stories/2014/01/15/Provan]}
"Norm Provan spared no expense when he built his palatial hinterland retreat a decade ago on 54.5 acres of lush, leafy acres in Diamond Valley.
“This is a property fit for a king! Well, at least a sporting legend,” Mr Wilson said.
Tucked well away on a quiet, rural road, Maleny is a five minute drive to the west and the Sunshine Coast beaches are a 25 minute drive to the east.
It comes with fruit trees, dams, twp storage sheds and paddocks for livestock.
The land cost $225,000 in 1995 when the Provan's moved from Sydney's Lilli Pilli after selling for $550,000 in 1993. Norm Provan sold President Avenue retail premises at Caringbah for $750,000 in 1997.
Since 2007, they also have a home on the Sunshine Coast at Golden Beach, near Caloundra.
"The Provan's have lovingly created this amazing home and had many wonderful memories here over the years; however, it's time for them to downsize and move on to the next phase of their lives," says Ben Wilson.
They have been keen to sell since May last year.
<a href="https://www.realestate.com.au/property-residential+land-qld-kuranda-2717729" target="_blank">A 28 hectare Queensland Tablelands district potential residential development site at Kuranda</a> has been listed by the couple with a $1 million asking price.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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Legendary league figure Norm Provan lists Sunshine Coast property

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Yes we know that getting internet readers to spend any length of time on an article is challenging.
But a 60 second guide to off the plan buying?
It's this week's offering from the Commbank's website, <a href="https://www.mywealth.commbank.com.au/property/60-second-guide--buying-property-off-the-plan-news20140107" target="_blank">MyWealth</a>.
It is promoted as an online hub that makes investing simple.
What - even when it's not?
Property Observer's last advisory on off the plan buying had<a target="_blank" href="/guides"> 14 tips</a> - when discussing the many complex pros and cons.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Buying off the plan: MyWealth's 60 second guide: The Commbank should know better

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Despite horse trainer Gai Waterhouse's tell almost-all, effervescent chatter about buying in Melbourne, it was actually the past year's hardest property purchase to actually track down.

But Title Tattle belatedly can report just where the Melbourne Cup winning trainer and her husband, Robbie Waterhouse bought in Melbourne.

It's a whole floor Spring Street apartment which cost $4.3 million. It's within Melbourne's Spring Street precinct that certainly has property pedigree.

It had been advertised through the lowkey agent Gina Donazzan at Melbourne Boutique Property. 

{yoogallery src=[images/stories/2013/12/18/melb]}

Title Tattle gleans the three bedroom apartment covering 385 square metres sits on its 11th floor perch with two car spaces.

There's four balconies with views over the Treasury, St. Patrick's Cathedral, Treasury Gardens, Parliament, Exhibition Building, even apparently the Dandenong Ranges.

It had last sold in 2007 for $3.82 million with The Age's then comprehensive Domain coverage labelling it as having a sense of space accentuated by high ceilings, an easy-flowing floor plan, a pale colour scheme, large rooms and an abundance of glass.

The 2007 vendor was then Skilled Group Ltd boss Greg Hargrave. This time it was sold by the Perth couple Donato Fini and Victoria Cole.

 

<img alt="flagtitletat" height="34" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/flagtitletat.jpg" style="font-size: 14px; margin: 5px; float: left;" width="25">

 

 

It seems Greg Hargrave couldn't stay away from the precinct as he has just spent $4.08 million to buy in the penthouse in the nearby, exclusive 99 Spring Street residential block.

It's the level-25 penthouse that looks down over the Parliament and Treasury precinct.

The 420-square-metre apartment was initially listed in October 2011 with $5.25 million hopes through Anton Wongtrakun of Dingle Partners. 

The Hargrave apartment was the one sold by the Holmes a Court family for $2 million in 2003.

The Perth business tycoon, Robert Holmes a Court had paid $160,000 in 1980 then adding a $150,000 purchase in 1981. It was his base when he made the sharemarket raids on the nearby Melbourne icons, The Herald &amp; Weekly Times in 1982 and BHP in 1985.

It was then considered Melbourne's ultimate penthouse, but ofcourse has faced strong competition from new contenders over recent times. And now  visual interference possibily from the forthcoming Windsor redevelopment next door along with the proposed redevelopment of the former Naval &amp; Military Club site nearby at 27 Little Collins Street.

 

<img alt="flagtitletat" height="34" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/flagtitletat.jpg" style="font-size: 14px; margin: 5px; float: left;" width="25">

 

 

99 Spring was one of Melbourne's first apartment towers in the CBD evolving into one of Australia's most exclusive addresses. 

The Packers, Potters and Robert Holmes a Court all have been among the country's rich who've had a bolthole within the tower through the decades.

Kerry Packer's former Melbourne bolthole, which cost $383,000 in 1983 with another $360,000 to make up the whole floor, was among the other 2013 sales. It fetched $3.15 million.

The Packer family had secured $1.5 million from the Leighton Holdings' chief operations officer Bill Wild and his wife Dianne for the 372-square-metre 12th floor apartment, in 2000. It has three bedrooms, three bathrooms, three living and dining areas, a study, two kitchens and two secure carparks.

 

<img alt="flagtitletat" height="34" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/flagtitletat.jpg" style="font-size: 14px; margin: 5px; float: left;" width="25">

 

 

Apartment 152 at 99 Spring Street remains<a href="https://www.kayburton.com.au/property/152-99-spring-street-melbourne" target="_blank"> listed through Kay &amp; Burton</a> having been listed early last year. Spanning around 200 square metres, the two bedder has been listed through Monique Depierre. It last sold at $1.1 million in 2006 when bought by George Stamas.

 

<img alt="flagtitletat" height="34" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/flagtitletat.jpg" style="font-size: 14px; margin: 5px; float: left;" width="25">

 

 

Over the years the who's who has included Lorraine Podgornik, wife of the late property developer Floyd Podgornik, who paid $725,000 in 1994 for an apartment that first sold in 1977 for $185,000. The psychiatrist and author Ainslie Meares was one of the first residents to move into the building. The restaurateur George Tsindos who ran the prominent Bourke Street restaurant Florentino's until 1979, called a 16th floor apartment his handy home.

 

<img alt="flagtitletat" height="34" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/flagtitletat.jpg" style="font-size: 14px; margin: 5px; float: left;" width="25">

 

 

Title Tattle's 99 Spring building spy says a recent buyer was the former ABC boss, Jonathan Shier who paid around $1.55 million, the cheapest sale last year in 99 Spring Street.

It was bought from the Margolin family - zoo keeper Emmanuel Margolin, truly one of Sydney's larger than life characters, who bought the Bellevue Hill mansion, <a href="https://www.propertyobserver.com.au/he-saidshe-said/were-the-jolie-pitts-correct-to-rent-vaucluse-s-villa-igiea-he-said/she-said" target="_blank">Barford</a> on his arrival from Melbourne in the late 1960s where he'd been a car dealer.

Shier, now a consultant sold his sub-penthouse in Ikon, at Potts Point, Sydney in late 2012 for $3.8 million. The 17th-floor Macleay Street unit sold through Jason Boon and Geoff Cox from Richardson and Wrench Elizabeth Bay. The three-bedroom pad was bought for $3.5 million in 2005  from the Laing + Simmons founder turned property developer Spencer Simmons. <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/new-south-wales/former-abc-boss-jonathan-shier-relists-potts-point-sub-penthouse-title-tattle/2012020853295" target="_blank">With two large balconies, the Ikon apartment cames with over 250 sq m of indoor/outdoor entertaining space</a>.

<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>

 

New projects you can secure in Melbourne

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[smartcode_project:default project_id=3490]
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Gai Waterhouse springs into Melbourne apartment high society: Title Tattle

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It's summer time, so longingly looking into estate agent window displays for shacks for sale up and down the coast has been principal property pursuit of many.
But buying? 
Before dashing off to Paris for Christmas, Pitcher Partners partner David Staples, compiled an analysis, counselling would-be buyers to do their sums.
Rathering than offering sanctuary and status, the reality could be a financial black hole.
“It’s generally a lifestyle choice rather than an investment,” he suggests. 
Our commentators Jonathan Chancellor and Margie Blok look at the pros and cons of owning a holiday home and find it's actually quite generational.
 
HE SAID
<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/stories/2013/09/06/jc-silhouette-5.jpg" alt="jc-silhouette-5" width="150" height="225" style="float: right;">
For starters, I look at holiday homes as an indulgent compulsory savings endeavour, building wealth through property for retirement.
Maybe rather than working from home, middle aged senior executives actually take their laptop workload to their coastal retreat - and their staff  aren't the wiser.
And even an essential escape from the city for the weekend - especially when there is adjacent demolition and construction every Saturday morning for years on end in the neighbourhood.
Yes it's rented out to others at the peak holiday times, but having use of it through the decades means having all those memories of fun family holidays. Yes there will be a period when the kids find it daggy, but they will be back. The pets will always come with you though.
For many it's most likely a home-from-home with the eventual savvy sea change shift less stressful than for everyone else.
So what is the main downside of this seemingly good personal investment?
Some coastal property owners complain that they spend all their time fixing up and maintaining their holiday homes. Yes maintenance on the coast tends to be higher due to the proximity of the sea, but just think supply and demand ensures that sea view coastal properties fair better than most when it comes to holding, losing or improving their value. So find the great local help.
Of course, coastal properties with easy access to schools, hospitals and shopping centres have quicker sale times if you do need to exit.
Rental returns in many coastal spots can cover most costs - maybe all up around eight weeks a year with demand then plummeting during winter which is when the owner can enjoy those blustery southerlies.
Typically you'd expect it to provide a net annual yield of no more than 2 per cent, even if commanding weekly rents of $2000 or more in peak periods. Ofcourse there's always the chance of using the income for a quick ski at Whistler while the tenants are swatting away the beachside blowies.
But beware the expectations of holiday guests has risen in recent times so household items once considered extras such as air-conditioning, a dishwasher and a modern gas barbeque are now viewed as essential. Not sure that the Nepresso machine and adequate supply of capsules is yet mandatory for the vacation crowd.
Margie may consider it a con, but being in one location for vacation year after year can be a delight. It's a safe place, boring and routine - but with a good book selection, a pack of cards, scrabble game and spare clothes with a musty odour - providing just the necessary break from the hustle and bustle of the city.
Ideally, its driving distance from the city should not be much further than two hours or so.
 
SHE SAID
<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/stories/2013/09/06/mb-silhouette-4.jpg" alt="mb-silhouette-4" width="150" height="225" style="font-size: 19.09090805053711px; float: left;">Owning a holiday house can be more a curse than a blessing given the ongoing costs and obligation to use the place.
Who wants to constantly return to the same holiday spot when inexpensive travel deals offer a wide range of local and overseas destinations with hotels and resorts providing interesting and relaxing holiday options and staff to take care of everything?
Heading off to a holiday house with family or friends is a nice idea, but in reality it involves a daily grind of cooking, cleaning and laundry, as well as provisioning with food, booze and other supplies from a local shopping centre.
During the peak summer season, these shopping experiences can be truly hideous at popular holiday spots (especially those on the coast) crowded with hoardes of holidaymakers, often with screaming children in tow.
According to David Staples from the accounting firm Pitcher Partners, the money spent on an average holiday house could pay for more than one week a month – or about 90 days a year – in a quality hotel.
The AFR Weekend noted Staples' sums of owning a holiday house with $500,000 mortgage repayments at 4.9 per cent – the lowest in a generation – would actually total about $24,000 annually, the equivalent to about 70 nights a year at a holiday resort costing $350.
Staples' colleague Jordan Kennedy says that means the buyer would need to spend their 20 days of annual holidays, 10 public holidays and 19 weekends at the holiday home to justify the cost. And when you add in another $30,000 for rates, maintenance and other costs, it pushes close to 90 nights a year.
Also, land tax on a holiday house can be a massive burden, particularly in pricey areas on the Mornington Peninsula and on Sydney’s northern beaches. In these areas, annual land tax on a holiday home can amount to tens of thousands of dollars.
During the 1960s when air travel from Australia, on Qantas and BOAC’s Boeing 707s, was expensive, owning a holiday house was more appealing than it is today. For our parents’ generation, holiday houses were more affordable – but now, when you take costs into account, I think there are better holiday options.
One trap to be aware of with a holiday home is any ownership in a self-managed superannuation fund. Anthony Keane, editor of Your Money, reported recently in the News Ltd papers, that strict rules around self-managed super prevent property owners from gaining any personal benefit from their fund assets until retirement, and there are nasty tax penalties for breaking the rules.
<div><a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a></div>
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Holiday homes: finances aside, the pros and cons come down to a generational outlook

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Billionaire apartment developer Harry Triguboff is planning serviced apartments in Melbourne - his first southern state foray.
Meriton is currently considering site acquisition, he told The Australian. 
“I have serviced apartments in Sydney, Brisbane and the Gold Coast, this (a Melbourne property) would make a network,” Mr Triguboff said.
Business people and tourists want to book in different cities through one brand of accommodation, he said.
With the bulk at Bondi Junction in Sydney, Meriton has 3100 serviced apartments <a target="_blank" href="https://www.meritonapartments.com.au">across 13 locations</a>.
The plans are to build 1000 this year through construction already underway in the Sydney suburbs of Parramatta, Chatswood, North Sydney and Mascot.
For most of the past five decades, Meriton has been Sydney-centric, then undertaking Gold Coast projects and more recently apartment towers in Brisbane.
The group's 3100 serviced apartments in Sydney, Brisbane and the Gold Coast date back to 2000 as previously it had sold all its apartment stock. 
Meriton expect to build 2500 units this year, although it has the land capacity for 11,000 apartments.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Harry Triguboff signals Melbourne acquisition to complete east coast serviced apartment network

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The Butterfly House at Dover Heights has been sold for an impressive $5.97 million.
It last traded in 2010 for $5.05 million when bought by telco company owner Michael Yi and his wife, Michelle, who live mostly in Jakarta.
They had previously listed the property with $6.5 million plus hopes before listing again late last year with $5 million plus expectations through Adam Ross and Shayne Harris at Savills Sydney inconjunction with Ray White Double Bay agents Elliott Placks and Gavin Rubinstein.
It first sold in 2008 for $4.9 million when still incomplete. The metamorphosed Butterfly House, had been fully renovated since its 2010 purchase. It featured in a recent <a target="_blank" href="https://www.propertyobserver.com.au/trophy-homes/moebius-and-butterfly-houses-at-dover-heights-hovering-on-the-market-he-said/she-said/2013102465903">Property Observer discussion</a> on its practical versus architectural merits.
<img alt="butterflymarch14one1" src="/images/stories/2013/03/butterflymarch14one1.jpg" height="506" width="470">
Spread over six split levels, the location has views over both the ocean and harbour.
Five bedrooms are in the eastern wing while the living areas take full advantage of vistas towards the Opera House, city skyline and Bridge.
The residence’s north facing aspect allows light to flow throughout the home, along with the natural ventilation system.
<img alt="butterflymarch14two2" src="/images/stories/2013/03/butterflymarch14two2.jpg" height="313" width="470">
It was 1996 when the architect Ed Lippmann received a request to create a home with “no straight lines” - one he did not believe was serious but the client was a firm believer in feng shui, Chinese laws governing how spatial arrangement affects energy flow.
But he was also as visionary as Mr Lippmann. The plans, which took countless hours, created a residence never before built in Australia with no harsh angles or corners.
It is suggested the requirement for all glass panels to be curved even prompted glass manufacturing into new territory.
The home was built by 2005 described as a piece of sculpture that works as a house.
The initial owner sold the home before final details were completed, and Mr Lippmann has worked with the current owner to complete the finishes in the home add such fixtures as the Crestron home automation, custom joinery and panelling before adding the gym, cinema room and final joinery in recent months.
The property has been bought by the Selim family.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Ed Lippmann-designed Butterfly House, Dover Heights sells

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The Channel Seven News presenter Mark Ferguson and his wife, the Bauer magazine publisher, Jayne have sold their contemporary Mosman home.
They wanted more than $4.35 million on its December listing through McGrath agent Michael Coombs.
Title Tattle gleans the five bedroom, four bathroom house on 790 square metres fetched $4.7 million or a tad more.
Backing on to Bradley Bushland Reserve, the then building block cost $2.23 million in 2007, when Mark was working at Channel Nine.
They had previously been at a $2.75 million Northbridge home which they bought for $2.22 million in 2004.
Before that they lived at Wollstonecraft.
Presumably they are staying on the lower North Shore, with the snappy bullish sale allowing them to contemplate buying quite quickly in the new year.
<a href="mailto:jchancellor@propertyobserver.com.au" target="_blank">jchancellor(AT)propertyobserver(DOT)com.au</a>
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Media couple Mark and Jayne Ferguson sell modern Mosman mansion

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The Senate inquiry into housing affordability has been given an alternative National Rental Affordability Scheme (NRAS) structure.
It has been touted as an effective evolution in the event the Abbott Government considers extending the Labor Government scheme for affordable housing.
The submission by Andrew Tyndale, a director of Grace Mutual, suggested the scheme should be based on providing capital in the form of a 10-year, interest-free loan, rather than NRAS-like income support.
The current position is based on NRAS offering income support incentives to build new affordable rental properties, but Tyndale argues the greatest need is capital.
Capital for developers and housing providers - both debt and equity.
"The NRAS income support is generous and flexible, but it is difficult to turn into capital (tax offset &amp; non-standard indexation)," Tyndale suggests.
"The biggest risk to the NRAS program is this lack of capital," he adds.
It's possibly the biggest overall challenge for Australia’s housing sector - whether for private or social housing.
Grace Mutual has put forward an alternate mechanism which they believe will cost the Government less.
"The Government’s affordable housing scheme should be based on providing capital in the form of a 10-year, interest-free loan, rather than NRAS-like income support.
"Capital meets the real needs of the housing industry.
"It adds certainty for forward planning and certainty on cost, reducing the likelihood of allocated incentives remaining unbuilt.
"The loan would be available as “take-out” finance, so the funding is only available on completion, as currently.
"Participating NRAS providers throughout Australian have indicated that this approach would be preferable to the income support approach.
"It is significantly (&gt;26%) cheaper for Government: Government’s borrowing costs are lower than the industry’s, so there is much less “leakage” and more overall efficiency.
"Government can fix its forward costs by supporting a 10 year bond instead of carrying an unknown and uncapped 10 year exposure to indexation.
"This approach can also reduce Government’s cost of compliance management, shifting responsibility to third parties under a user-pay approach."
Tyndale believe the loan principal can be kept off the Commonwealth’s balance sheet.
Under the proposed structure, the Federal Government would be liable only for the payment of the coupon (interest) on the bond with the services provided by a new Affordable Housing Finance Corporation, over which Government could exercise control (but not consolidate).
"Investor capital would be protected by mortgages over completed NRAS dwellings.
"These services would be provided by a new Affordable Housing Finance Corporation, over which Government could exercise control (but not consolidate)."
Despite the flaws since its 2008 introduction, NRAS had resulted in significant numbers of affordable dwellings being constructed, Andrew Tyndale said.
<a href="/news">The Senate inquiry</a> provides a timely look at the operation, effect and future of the National Rental Affordability Scheme.
Last May the Labor government announced a new $1?billion round for the scheme with the aim of creating 10,000 further new properties for low to middle-income tenants by 2015-16.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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Revised NRAS scheme suggested to overcome its lack of capital challenge

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/6RNt3AvtBpI?si=JUhuCV2ZRXsYaoJZ" title="YouTube video player" width="560"></iframe>

Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

[smartcode_project:default project_id=149637 project_image_fid=351027]

The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

[smartcode_project:default project_id=149637 project_image_fid=351031]

For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

[smartcode_project:default project_id=149637 project_image_fid=351024]

As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

[smartcode_project_cta:default project_id=149637]

Joel Robinson

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

[smartcode_project:default project_id=13962 project_image_fid=362240] 
&nbsp; 
<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

[smartcode_project:default project_id=13962 project_image_fid=362566] 
&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

[smartcode_project:default project_id=13962 project_image_fid=362564] 
&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

[smartcode_project:default project_id=13962 project_image_fid=291195] 
&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

[smartcode_project_cta:default project_id=13962]

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

[smartcode_project:default project_id=140755 project_image_fid=354809]

The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

[smartcode_project:default project_id=140755 project_image_fid=366267]

The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

[smartcode_project_cta:default project_id=140755]

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

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

Jonathan Chancellor

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