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The executive chairman of Aussie, John Symond expects investors will continue to dominate property purchases into 2014.
He sees this as "a long term fundamental shift" in the property market.
It comes as first home buyers typically failed to compete against investors in what Symond called the many hot property pockets of many capital cities during the spring selling season.
First home buyers are absenting themselves from the market at a time when the conditions are actually rather favourable for them given interest rates are at historic 50 year lows and mortgage repayments as a proportion of average disposable incomes are lower than for much of the last two decades. John Symond reckons the current potential first home buyers are preferring to invest in shares and rent in apartments nearer their workplaces or CBDs.
Symond sees part of the solution for the Federal government to look at creating tax incentives for first home buyers to save for a deposit.
There is the existing first home buyer saving accounts scheme introduced by Prime Minister Kevin Rudd, which after plenty of patience offers a terrific honey pot, but just doesn't seem to have gathered much traction.
Yes the required home buying deposit has risen considerably as prices rose faster than incomes - from around 2.5 times the average disposable household income in 1985 to around 4.5 times now - but maybe there are other life priorities that has triggered this apparent baulking at the requisite deposit hurdle.
It's a little early to judge an entire generation on one overly-zealous selling season, but home ownership rates have been in decline since the mid-1990s with the most substantive drop being among households in the 25-44 age bracket.
Any such demographic shift will be a fillip to investors who not doubt have some anxiety over issues of supply and demand especially in the apartment rental market. they'd be watching the recent rather contradictory rental vacancy statistics with for instance SQM having Sydney rental vacancies increasing while the REINSW had them reducing.
It's also a little exaggerated to suggest as Robert Gottliebsen, the Business Spectator columnist did, that the home ownership dream was fading, at least in the inner city,  "increasingly replaced with a tenant relationship with Chinese landlords." Lastly John Symond warns that first home buyers, who now make up about 13% of all loans written, should avoid the temptation of going after very low deposit loans as they can lead to financial stress.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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jchancellor-FAypfDUnLy

A first home buyer generation with other priorities? 

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Queensland golfing champion Adam Scott has finally sold his redundant Surfers Paradise beachfront investment apartment but at a $2.4 million plus loss.

It was a two-level apartment in the 15-unit Jade tower which he bought for $4.4 million in a 2004 off-the-plan acquisition - reflecting a 55% price drop.
He recouped just $1.94 million in a sale just before he won the Australian PGA event at the Gold Coast's nearby RACV Royal Pines golf course.
It was the last of his Jade apartments with the other fetching $5.9 million in 2007, having also been bought for $4.4 million off the plan in 2004.
Adam Scott, who maintains a Sanctuary Cove residence which was bought by his father, Phillip in 2006 for $2.7 million, had been trying to sell the remaining apartment since 2010. 
Adam Scott's dual level unit had two bedrooms plus study. The first floor consisting of an open plan lounge and kitchen, lounge with gas fireplace, Italian limestone floors, all opening out on to a large balcony overlooking Surfers Paradise beach. There are also two bedrooms with ensuites, the master including a walk-in fitted wardrobe and large round spa bath. On the ground floor there was an entertainment room with wet bar and a study and bathroom. There is also a private garden courtyard with spa and bbq area, another bathroom and direct access to the beach. There is a double auto garage in the basement with lift direct to the first floor.
Initially asking $4.9 million, <a href="https://coldwellbanker.com.au/buying/QLD/Gold-Coast-and-Hinterland/SURFERS-PARADISE/Apartment/2P0069" target="_blank">and available for a longterm $1300 a week furnished rental through Coldwell Banker</a>, its most recent public marketing campaign asking price was $2.9 million in late 2011.
It has been bought by Bill Lewski, who founded the Prime Retirement and Aged Care Property Trust, through Australian Consolidated Enterprises Pty Ltd.
Lewski is now a two apartment owner having paid $4.62 million for his earlier Jade apartment last year, a 300 square metre three-bedroom, three-bathroom apartment. Its late 2011 asking price was $10 million.
Jade was built by the Sutherland Shire, Sydney developer Michael Bezzina on its Northcliffe Terrace site that was bought in 2003 for $17.3 million. It was designed by Bezzina's in-house architect Vic Lake, who worked with Brisbane architect Scott Peabody from Planit Architecture.
Located close to Q1, it comes with a distinctive Ticu Gold blade on its roadside exterior. The photovoltaic cells embedded in the blade provide a power source for the common property.
Despite the early off the plan sales, the project got caught up in the global financial crisis downturn when it hit the Gold Coast. The since-failed funder LM Investment was then left holding the unsold apartments which have since been offloaded at discounted prices.
Residents in the landmark tower include the late developer Bernie Lewis's widow and daughter, Toni and Marnie; the Brisbane developer Kim Pradella and the Kirra Hotel owner Brian Flannery's wife, Peggy. The block's previous most recent sale was in May th8is year when $3.9 million was secured through McGrath agent Duncan Longmore of an apartment sold initially at $4.7 million in 2005. Earlier this month the apartment was made <a href="https://www.mcgrath.com.au/rent/apartment-surfers-paradise-qld-4217/42781/?fromHome=1" target="_blank">available for rent at $2250 a week </a>from early 2014. 
Scott's $5.9 million sale in 2007 was to Moondaze Pty Ltd, which around the same time sold to Scott's company Balboa Developments (Qld) a $15 million Rockhampton development site. It remains vacant having been earmarked for 200 apartments by Moondaze's Harry Nicol, one of the founders of the Liquorland group of bottle shops.
PS: In golfing parlance, the latest Jade sale, could be possibly called a reverse bounce back, the golf term for scoring a bogey or worse on a hole immediately following a birdie or better.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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Golfer Adam Scott scores reverse bounce back on Jade, Surfers Paradise apartment sales

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The second last weekend of the spring/summer auction season secured a weakened, yet satisfactory, 76% success rate across Sydney and 72% in Melbourne, according to the preliminary results from Australian Property Monitors.
Finally signs of the old supply and demand adage.
A little real estate logic which was very late arriving in Sydney - and only under the weight of the burden of eleventh hour 800-plus weekend volumes of early December.
The herd mentality had kept the preliminary clearance rate figure above 80% for almost all of Sydney's spring.
Melbourne did very well, but never quite reached that same momentum, and wilted first too.
No doubt the emphasis on the headline auction success rate was a contributing factor that triggered many lucky vendors to list - along with the accompanying buyer urgency - and they did so on the back of the Sunday and Monday newspaper auction coverage which comes with its preliminary initial result figures.
Once the bulk of the unpublished results come in mid-week, invariably the result is weaker typically because tardy agents who don't get a Saturday sale often try to hold off notification until they do. 
So for instance the Saturday December 7 results had the preliminary figure at 78% for Sydney, but revised down to 74% - and there are still 75 results missing from the 830 scheduled auctions.
Similiarly for Melbourne, an initial 66% but a revised 64% with 110 results still missing from the 1314 scheduled auctions.
Always the same pattern towards a slightly lower result, which doesn't get enough attention in the aftermath given the media's need for quick timely news and its avoidance of the stale.
These near-final results are certainly available from the property data suppliers, but mostly ignored by the mainstream media.
Industry participants and auction fanantics watch and know the trend, but the Saturday night headline is what Joe public gets.
There's been a recent debate sparked on the matter in the Australian Financial Review with numerous articles written by Mark Bayley, a credit strategist at Aquasia, an independent corporate advisory partnership, under headlines including 'Lies, damned lies'; 'Auction clearance rates'; 'Misleading property auction figures "put buyers at risk"'; and '1,438 auctions missing: Sydney’s Impossible Property Search'. 
Bayley's contention is that this initial reported rate fails to tell the actual situation in the weekend property markets. He's right because of the 995 scheduled Sydney auctions, only 669 were reported.
But then Bayley ill-advisedly suggests the 509 sales should be calculated using the 995 number to conclude "Sydney’s real auction clearance rate was 51.2%."
Bayley maintains the data collection methods were open to systematic abuse and the published auction clearance rates had the potential to vastly overstate the health of the market. He's even had the support of the ABC's so-called Fact Check unit which says his conclusion that auction clearance rates aren't "transparent, real or representative of what happens at auctions on any given day" checks out.
Sure even the updated tally is never 100% of all scheduled auction results, but I am not one for conspiracy theories - and anyway for mine the bigger issue is withheld prices after public auctions. That's the most important issue of public market knowledge, rather than the overall tally.
And I would also suggest Bayley's preferred calculation method would vastly understate the health and wealth of the auction market.
I started the manual weekly tabulation and publication of timely auction results in the Sydney Morning Herald in the late-1980s, just as auctions really took off as a means of sale in select Sydney suburbs. It came from the results faxed by Sydney's leading estate to the team of property journalists at the paper.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/12/16/jc-dec-16-big.gif" title="Click to enlarge"><img src="/images/stories/2013/12/16/jc-dec-16-small.gif"></a>
This December 1990 SMH article (above) illustrates the first two years of the auction result coverage starting with the December 1988 clearance rate of 50% dipping interestingly to a 36% low by November 1989.
Prior to that there had been private treaty results, sans street number, which leading franchise groups had mailed to the SMH after settlements.
The weekly auction tabulating was subsequently outsourced to the content management firm of Horan Wall &amp; Walker who produced the  Home Price Guide and this morphed into what is now the Fairfax Media-owned Australian Property Monitors whose general manager Anthony Ishac today defended the clearance rate method in the AFR.
"APM believes the vast majority of agents do the right thing and report results in a timely and transparent manner – inclusive of properties that fail to sell or that are withdrawn from sale."
"APM has been collecting and publishing auction results for the major capital cities for more than 20 years, providing a reliable snapshot of how demand and supply in the auction market is behaving and as a leading indicator for the overall property market," he advised.
Ishac effectively argues Bayley is wrong to imply clearance rates “cannot be relied upon to show trends in the industry.”
While Bayley suggests the results give "almost meaningless results and limited insights", Ishac is right to assert that auction clearance rates do reliably provide the earliest of indicator of the property market performance.
And by the way history shows the February clearance rate is almost always higher that December's finish.
But ofcourse pauses can prompt changes in market sentiment so there are no guarantee's February will achieve the same levels of 2013's auction success.
I keep seeing debate on that the 2013 property market was different to past cycles.
So just maybe February 2014 could be weaker than December?
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a> 
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Finally signs of the old supply and demand adage amid December auction results

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A single lowball bid of $4.3 million for the redundant Mosman investment property of Australia’s richest woman Gina Rinehart was made at its weekend auction.
The former Mosman home of her daughter Hope Welker - among the bumper 990 Sydney auctions - had cost $5.4 million in 2007.
The negotiations for the contemporary Bradleys Head Road house listed with reported $5 million plus hopes continue into this week <a href="https://raywhitelowernorthshore.com.au/nsw/mosman/1063220/" target="_blank">through the Ray White Lower North Shore agents Megan Thomas and Kingsley Yates.</a>
The weekend auction clearance rate on Sydney's lower north shore was 85% from its 48 reported results. The second last weekend 0f the spring/summer auction season secured a reduced, yet satisfactory, 76% success rate across Sydney and 72% in Melbourne, according to Australian Property Monitors.
Ms Welker and her husband, Ryan Welker, vacated the Mosman property as they departed for New York in 2011, around the time the family dispute over control of the family's mining interests became public through litigation.
<a href="mailto:news@propertyosberver.com.au" target="_blank"> </a>
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Lowball offer for Gina Rinehart's Mosman listing shows no prestige property price recovery

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Villa Igiea, best remembered as the long-time Vaucluse home of the late TNT transport tycoon Sir Peter Abeles and his late widow, Lady (Kitty) Abeles, was the surprise choice as the Sydney base of Hollywood star Angelina Jolie and her six children, with Brad Pitt also flying in to spend time with the family. Jolie is here in Australia to shoot the World War II drama Unbroken over three or so months.
Our commentators Jonathan Chancellor and Margie Blok differ on whether the Jolie-Pitts were correct in selecting Vaucluse's Villa Igiea as their Sydney base?
HE SAID: YES<img src="/images/stories/2013/09/06/jc-silhouette-5.jpg" alt="jc-silhouette-5" width="150" height="225" style="float: right;">
Indeed Angelina was quite right, for she gets a magnificent European style villa with picture perfect postcard views gunbarreling across the harbour to the Harbour Bridge and Opera House. It is one of the most delightful family homes I've been inside.
Inspired by a grand 1908 villa in Palermo, Sicily, Villa Igiea dates back to the 1920s when it was built by the retailing Grace family to a design by Neville Hampson, the architect who designed Boomerang, the grand Spanish Mission style harbourfront mansion at Elizabeth Bay.
But Villa Igiea was built with its then Vaucluse Road, Vaucluse address in the Riviera Liberty style, featuring strong Italianate art nouveau influences before getting a quick refreshing update during the McWilliam family’s ownership during the early 2000s and then under the current Burt family ownership a total contemporary refurbishment worthy of a Vogue spread. (pictured below).
{yoogallery src=[images/stories/2013/12/17/vau]}
The imposing mansion was bought in 1970 by Sir Peter Abeles who paid $450,000 for the Queens Avenue property. It was known then as the Aegean Villa, sold by meat exporter and onetime Hellenic Club president, Steve Varvaressos, and described by my early 1980s SMH property editor predecessor John Rich as among the best houses in Sydney.
And during the next three decades, the five-bedroom, three storey white-washed sandstone residence, with its panoramic Harbour Bridge views, was often host to royalty and prime ministers.
After Sir Peter Abeles died in mid-1999, his widow, Lady (Kitty) Abeles, put a $20 million asking price on the property, which I recall briefly attracted potential buying interest from then Hollywood royalty, the actors Tom Cruise and Nicole Kidman, before their separation.
Rightly billed as one of Australia's most impressive properties, Villa Igiea stands in 2,160 square metre grounds high above Hermit Bay. There's also the additional adjacent 800 square metres holding.
All set behind remote-controlled gates on the Queens Avenue cul-de-sac, the house is surrounded by balustraded terraces and sprawling manicured gardens with pool, along with underground garaging installed during its recent works project.
It was Vaucluse’s priciest sale when in 2005 Villa Igiea sold to Wayne Burt, a London-based entrepreneurial expat, for close to $17.3 million. Burt, who spent $4.9 million on the neighbouring house in 2009, has extensive international experiences in investment banking in Sydney, London and Monaco including some years at Macquarie Bank, Deutsche Bank and Bain Capital.
The price well and truly beat the previous suburb record of a Coolong Road waterfront mansion sold by retired bookmaker Bob Bland for $14,725,000 in 2002 to the Walton clan who engaged Luigi Rosselli to design a new house which was briefly rented by Leonardo di Caprio when he was filming the Great Gastby in 2012.
People like Vaucluse for its harbourfront beaches and parklands at Nielsen Park and Parsley Bay. It also has easy access to the harbour and the walking tracks on The Hermitage or near Macquarie Lighthouse.
A prestigious suburb with large houses, many with striking harbour views, Vaucluse attracts families for its leafy environs, relaxed lifestyle and close proximity to private schools. Easy access to parks, playgrounds and beaches suited to small children are the motivating factors for families moving to the area – including the Jolie-Pitts.
Of course Point Piper's Altona ruled the rental roost until its $52 million sale earlier this year. With Villa Igiea new to the prestige executive rental pool, its rental price remains undisclosed, disallowing any price comparison.
 
<img src="/images/stories/2013/09/06/mb-silhouette-4.jpg" alt="mb-silhouette-4" width="150" height="225" style="float: left;">SHE SAID: NO
I think Barford, the seven-bedroom Georgian style mansion at Bellevue Hill (pictured below) would have been a better choice for the Hollywood power couple for it is exceptionally private estate which could be especially handy for celebrity renters when pesky paparazzi are stalking.
As well as being hidden from street view, Barford has two entrances (one on Victoria Road and another on Rupertswood Avenue), so comings and goings in cars with dark-tinted windows would ensure a degree of privacy as well as safety.
In my view, celebrity renters are better off choosing Bellevue Hill over Vaucluse, for Bellevue Hill is just four kilometres from the city, as well as being very close to Double Bay, Bondi Junction and the harbour.
{yoogallery src=[images/stories/2013/12/11/bell]}
Sydneysiders would be aware that Vaucluse property tends to go in and out of fashion, although expats may not understand that Vaucluse’s travel distance puts the suburb out of favour with many locals.
One of Bellevue Hill’s most prestigious properties, the Barford estate, was promoted for lease only this week at a weekly rental of $25,000 through Run Property agent, Kyara Coakes for its Hawaiian-based owner, Ian Joye.
But Barford has long been a preferred rental property for celebrities seeking a luxury mansion with privacy.
In 2001 actor Will Smith led the march to lease Barford. He reportedly paid $4,000 a week during the time he was here to support his wife Jada Pinkett-Smith who was in Sydney to work on the movie, Matrix 2.
Altona was his harbourfront preference, but the pop star Bono has been among the more recent renters – in 2010 he reputedly paid the advertised price of $40,000 a week for the Bellevue Hill property.
Run Property’s internet advertisements claim Barford “as one of the country's most significant private holdings and one of the finest homes in Australia”.
The ads state Barford is "the best Sydney has to offer in location and timeless design. It offers sweeping views across Rose Bay, Sydney Harbour and beyond the Heads of Manly, yet affords total privacy. There is no opportunity for paparazzi to moor outside Barford.”
Named after a village beside the River Leam in Warwickshire, England, Barford was built in 1931 for media tycoon Sir Warwick Fairfax who resided there until the late 1960s when he sold it to former Melbourne car salesman, Emmanuel Margolin.
In 1980 Margolin sold Barford for around $1.5 million to property traders, Maurice Bernhardt (a former Double Bay estate agent) and Max Franks.
Not long after Bernhardt and Franks sold Barford to Barry and Wendy Loiterton who operated the tourist-marketing business, Leisuremark.
Of course, in 1985, Barford’s magnificent garden was the setting for a French champagne and lobster feast attended by a 500-strong glitterari set to celebrate the wedding of socialite Glen-Marie North to Liberal Party stalwart Bob Frost.
I recall Barford’s last sale in late 1986 for $9,875,000 to the entrepreneurial accountant Ian Joye. This deal was headline news for it was near enough Sydney’s first $10 million sale with Jonathan breaking the story in January 1987 in his much remembered back page Today's People, SMH column.
Ian Joye certainly knows select properties.
Properties on the northern side of Sydney rarely attract celebrity renters or command high prices – with the exception of Palm Beach’s Kalua, a 5,500 square metre landmark beachfront estate which Ian Joye sold for $22 million in 2012.
Only popular during the summer season, Kalua was rented over the years by the likes of Elle Macpherson, Nicole Kidman, John Cleese and Rupert Murdoch reputedly at $25,000 or so a week, although Palm Beach rentals tend to ebb like high and low tides.
Elsewhere across Sydney I recall then record rentals including $16,000 a week for Musgrave House in Mosman rented by Diana Ross during her 1989 tour and $25,000 a week paid by singer Paul McCartney in 1993 for a Mosman, waterfront on Wyargine Point.
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Were the Jolie-Pitts correct to rent Vaucluse's Villa Igiea? He Said/She Said

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The Australian real estate market always slows down - some might suggest even shuts down - over the Christmas/New Year holiday break, especially after an exhausting year like 2013. 
But buyers, sellers and estate agents should always be ready for the next opportunity.
Mobile phone and iPad devices ensure we are all never far from the latest showcased property listing.
Sure we all want to take the formal Christmas Eve office closure and then the New Year's Eve fireworks, but there just might be times in-between and around these family events that get the 2014 sales activity well underway.
Successfully securing a transaction might be tricky with solicitors not keen to interfer with family holiday plans, but like most agents having executive assistants, there are staff who can do the legwork.
Even if it's not happening, the holiday slowdown can be used by estate agents for getting the mind and devices organised for the new year. Maybe sketching out or revising business goals and plans.
Our property commentators Jonathan Chancellor and Margie Blok give their pointers to ensuring a great start to the year because it won't be long before in the April Easter-Anzac Day break. Their tips, which are both contemporaneous and old-fashioned, could give you the opportunity or competitive edge in the unfolding 2014 marketplace.
HE SAID:
<img src="/images/stories/2013/09/06/jc-silhouette-5.jpg" alt="jc-silhouette-5" width="150" height="225" style="float: right;">
Buyers:
*Follow up on properties that failed to sell at auction during November and December – vendors, whose properties have been languishing on the market for weeks, could be willing to listen to reasonable offers and also be more flexible in negotiating the terms of an offer. Also use this time to research sale prices of recent spring listings – the spring market has been quite frenetic, so take the time to guage where values are at now so you can be realistic about pricing the offers you make.
* Auction clearance rates normally trend downwards through December, so keep an eye out for those passed in prospects and put in a tough offer as you never know what sort of pressure the vendor will be under.
Sellers:
*Choose an experienced local agent, with a hyper executive assistant, who isn’t holidaying in Europe. Hopefully, the agent already knows the likely buyer from their long list of unsuccessful bidders at their spring recent auctions.
Use the Christmas/New Year period to tidy up your property and get it ready for a marketing campaign starting in late January. Spruce up the inside of your home as well as outside for it’s a lovely time of year to be in the garden.
* If your property failed to sell at auction in the run up to Christmas, instruct your agent to promote extended settlement terms on internet advertising, so buyers will have time to sell their property during January and February.
Agents:
*Keep networking, but in a relaxed fashion - schedule lunches, drinks or coffee with friends, past clients and vendors. Pursue strong and constant communication with both buyers and sellers as to what's been happening with their specific listing of interest.
*The challenge is to quickly and increasingly understand what’s happening in the new 2014 market – and to believe it. You have to be in an informed position to advise your seller and buyers the facts about price and where the market is going. Remember no year is exactly the same as the prior one. 
<img src="/images/stories/2013/09/06/mb-silhouette-4.jpg" alt="mb-silhouette-4" width="150" height="225" style="float: left;">SHE SAID:
Buyers:
*Hot summer weather, and hoardes of holidaymakers, usually means a decrease in the number of people attending Saturday inspections – this could work to your advantage because competition for properties in popular price brackets may not be so strong. Be ready for the next opportunity by creating daily or weekly alerts for new listings on real estate websites
* Trawl the internet for listings where vendors have ignored their agent’s advice about making a property look good for sale. Search for properties which appear unattractive in photographs. Rooms with bad lighting and cluttered with knick-knacks can affect sale price, but these may not affect long-term value. Make realistic offers for properties which are demonstrably overpriced.
Sellers:
* Remember the old saying “the early bird catches the worm” – rather than wait until the February auction season, tell your agent to advertise your property as a forthcoming auction on the internet because buyers.
*If your property didn’t sell before Christmas, be sure to keep it looking in tip-top inspection order for eager buyers and expats (who are home for holidays during January) could be house-hunting.
Agents:
*Get back into the office swing during early January and use the time to stay in touch with your clients by calling to wish them a Happy New Year. Even if you make just 10 calls each day from Mondays to Fridays, this will add up to a large number of people over four weeks. Ring long time clients and those collected duing spring, so you let them all know of your continued interest in their purchasing and or sales.
* Update your databases and declutter your computer files, as well as other unnecessary paraphernalia lying around the office. Use this time to organize yourself in readiness for the year ahead. Evaluate your office systems and if these are not supremely efficient, then update software and set up new systems. Ensure that the website is kept up to date, and there's nothing more frustrating for readers if the sales or rental listings are actually no longer current.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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Making the most of the Christmas holiday downtime: advice for sellers, buyers and estate agents

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It was interesting to see that dwelling values across Australia’s capital cities increased by a mild 0.1% in November which was considerably lower than the increases of 1.6% during September and 1.3% in October. 
RP Data’s senior research analyst Cameron Kusher noted that the slowing rate of capital city home value growth indicated a potential moderation in overall growth.
He's among the growing band of forecasters who think it may be the case that the peak rate of value growth has now passed in Sydney and Melbourne.
Despite the headline grabbing 8% national annual growth figure, the data is actually a very mixed bag. 
Sydney and Perth are the only capital city markets in which home values are now higher than they were at their previous peak. 
Over the three months to November 2013, home values didn't increase in Hobart (-4.7%) and Canberra (-3.5%). They increased by 5.8% in Sydney, 1.5% in Melbourne, 1.1% in Brisbane, 2.6% in Adelaide, 2.5% in Perth and 1.8% in Darwin.
For a while this year it was the common presumption that the RBA was unlikely to cut for fear of overinflating property.
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But any continued moderation of price growth will allow the Reserve Bank of Australia to cut rates again in 2014 if they have concerns on the overall economy. 
It would appear, with three Saturdays to go, that the tail end of 2013 is seeing auction clearance rates finally flatlining, and more likely actually easing.
Auction results do a remarkable job in reflecting and projecting market trends.
So when auction clearance rates were on the rise, prices were generally going up too.
The opening months of 2014 will be a fascinating to watch especially the labour market which is always a lagging indicator of the economy's direction.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Price growth moderation allows the RBA to cut rates in 2014

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The former Mona Vale home of the murdered millionaire Craig Puddy has been sold.
The Mona Vale property was listed last December with $3 million plus hopes, but did not sell. <a href="https://www.mcgrath.com.au/buy/house-mona-vale-nsw-2103/199101/?searchID=34537351" target="_blank">It was relisted recently with a $2.5 million plus price guidance through McGrath Estate Agents</a> and sold last Friday.
No sale price has been given by the selling agent Adrian Hybner, but Property Observer gathers around $2.5 million was secured.
Craig Puddy went missing in May 2010, the day that his family found a pool of blood in the kitchen of his Mount Pleasant, Perth mansion where removalists had been due to relocate Puddy's belongings to Sydney.
At the time his home in riverside Perth was on the market for $3.2 million.
Puddy and his girlfriend had been set to renovate his $2.85 million Rednal Avenue, Mona Vale waterfront house on Sydney's Pittwater which was bought without any mortgage finance. It was exchanged in February 2010 and settlement of the purchase took place in April 2010.
The Mona Vale neighbours knew of their new neighbours as Puddy had already parked his Mustang in the driveway.
His other Mustang, a 46-foot cruiser, was yet to be moored on his jetty.
"A gentleman to deal with," the LJ Hooker selling agent, Claudio Marcolongo, told the local paper after his disappearance.
His colleague Cameron Mansell, who was <a target="_blank" href="https://www.watoday.com.au/wa-news/cameron-mansell-guilty-of-murder-20111107-1n3pz">convicted by a jury over Puddy's death in November 2011</a>, had been a financial planner, although the Australian Securities and Investments Commission barred him from working as a securities dealer following his promotion of a blue gum plantation.
Police never found the body and only one of the two wheelie bins that went missing from the Mount Pleasant house, but Cameron Mansell was found guilty of his murder in late 2011.
Lawrence Puddy, Craig's father was the executor of the estate, but the family was unable to sell the homes until he was legally considered dead.
The property were able to be sold after a Supreme Court judge acknowledged Mr Puddy's death for the purposes of probate law.
Craig Puddy's Mount Pleasant house had been purchased for $2.05 million in 2006. 
The three-storey Mount Pleasant mansion with five bedrooms and four bathrooms was sold late 2012 for $2.4 million.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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Murdered millionaire Craig Puddy's Mona Vale waterfront house sells at loss

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The former chief executive of McDonald's Australia, Peter Ritchie and his wife, Leigh, have $12 million hopes for their Mona Vale weekender.
It's a Peter Burford-designed beach house on 2056 square metres - <a href="https://monavale.ljhooker.com.au/11E4F6K" target="_blank">a pavilion-style home on level lawns to the beachfront</a>.
They had bought the two title Surfview Road property in 1996 at $850,000 and $1,185,000 in 1997.
The property is listed through Lachlan Elder of LJ Hooker Mona Vale. 
The street's top sale was $3.62 million for a 1980 house on an 822 square metre block. <a href="/news">It pipped the $3.5 million sale of the 870 square metre Delmege family property in 2011</a>. There was another $3.5 million pre-auction sale in October this year through Elder of the 821 square metre dual occupancy property owned by the Sheppard family since 1966. 
Ritchie oversaw the restaurant chain's expansion from Yagoona to 500 plus stores during his 25 years as chief executive until 1995. His subsequent executive positions have included chairman of Mortgage Choice Australia, chairman of Reverse Corp Limited, chairman of Culligan Australia Pty Limited and the deputy chairmanship of the Seven Network Limited.
This year most of the listing activity took place on Bruce Street, on the southern side of the Mona Vale Golf Course.
It's been a hive of listing activity, as agents tried, and tried again to sell their prestige offerings.
An original renovated 1920s cottage - the home of Golden Slipper-winning horse breeder Bettina Thompson who was off to Palm Beach.
The three-bedroom, two-bathroom beachhouse features a saltwater infinity pool, outdoor decks, lawns and a courtyard overlooking Warriewood Beach. It was architects Jim and Belinda Koopman who were commissioned to restore the 1920s cottage, which boasts original jarrah timber on its 512-square metre oceanfront allotment. The property has been showcased in television commercials.
The property last sold in 2006 for $3 million and before that, in 2004, for $2,316,000.
Jillian McGrath from McGrath Estate Agents has listed <a href="https://www.mcgrath.com.au/buy/house-mona-vale-nsw-2103/200959/?searchID=34496407" target="_blank">the property </a>with $3.6 million-plus hopes. It's been listed since April.
<img src="/images/stories/2013/04/monavaleapril26one.jpg" alt="monavaleapril26one" width="470" height="295">
A Tuscan inspired oceanfront property listed with $4 million plus hopes has been sold at $3,635,000 to the Porra family.
Located at <a href="https://www.mcgrath.com.au/buy/house-mona-vale-nsw-2103/174515/?searchID=28194316" target="_blank">1 Bruce Street</a>, the property (pictured below) featured four bedrooms and two bathrooms.
<img src="/images/stories/2013/04/monavaleapril26two.jpg" alt="monavaleapril26two" width="470" height="308">
Situated on a 649-square-metre parcel of land, the property has direct access to Warriewood Beach through a local reserve.
The property, last sold in 1987 at $339,000, however it was listed in 2009 seeking $6 million plus.
With a 22-metre beachfront reserve frontage, 17 Bruce Street is also up for grab having last sold for $3.5 million in 2007.
When the 1950s property was first listed, it had expectations of $4.95 million with a subsequent revised price hope of $3.8 million plus.
Bruce Street's highest sale price was $4.575 million in 2010.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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Peter Ritchie lists biggest Mona Vale beachfront with pavilion-style home

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There were 900-plus stories in the harbour city today as Sydney had its biggest auction day in property history.
The Australian Property Monitors preliminary tally - which took into account 510 results - came with an initial on-trend 80.4% clearance rate.
The previous weekend's adjusted figure eased to 77%.
There's a further two weekends with 800 plus listings and then even another 120 on the Saturday just four days before Christmas when offerings have historically been avoided as the city focuses its attention on beach cricket, Christmas lunch preparation, gift giving and then New Year's Eve resolutions.
It has been Sydney's remarkable spring that might possibly never be repeated as virtual 80% clearance rates consistently were secured during the selling season. Constant record listing numbers, ensuing record sales volumes, record median house prices and this weekend the busiest Sydney auction day on record. 
Melbourne had its second busiest auction day, with an improved clearance rate of 70% compared to the revised 65% of last weekend, according to the REIV.
There were 1177 auctions reported to the REIV, with around 1570 auctions next weekend.
Home buyers spoilt for choice in both major auction capitals, with Sydney holding firmer than Melbourne. Catching the tail end of the spring momentum, many vendors were clearly committed to their upgrade or downsize purchasing, but there have been many eleventh hour investor vendors merely keen to sell now rather than risk waiting until next year after the holiday break. But by leaving it so late they risked facing a diminishing pool of buyers who were perhaps sensing the very early signs of regaining of the upper hand, especially in Melbourne.
Even in Sydney there were results of just below reserve sales emerging within the bullish hype including at Kirribilli where a parent-funded first home buyer beat two investors paying $950,000 for the two bedroom 10/21 Holbrook Avenue at slightly less than its reserve of $975,000. The same at a $600,000 Camperdown apartment where the reserve was reduced by $20,000 to secure the under the hammer sale.
The apartment in The Bondi at Bondi Beach owned by former Home &amp; Away star Holly Brisley and husband, Paul Ford (pictured below) was passed in on a $4.7 million vendor bid. The three-bedroom apartment at 702/152 Campbell Parade, Bondi Beach had sold for around $5.3 million in March, but the buyer, an undisclosed mining executive, didn’t settle through the McGrath agent <a href="https://www.propertyobserver.com.au/news/holly-brisley-s-bondi-beach-apartment-sale-collapse-but-higher-price-outlook/2013110366137" target="_blank">Steven Chen who had the relisting initially with $5.5 million hopes</a>.
{yoogallery src=[images/stories/december14holly]}
Sydney's inner west was the busiest district with 123 scheduled, followed by the south with 116, the west with 78 and the city and east with 70. Epping had 15 homes scheduled to go under the hammer, with a $943,500 sale of a three bedroom newish townhouse on Ray Road.
Maroubra and St Ives have 10 auctions each followed by Carlingford with nine and Mosman with eight auctions scheduled.
The results include the $1.131 million sale of a four bedroom house at 12 Eccles Street, Ermington, through First National West Ryde with the 100 plus crowd watching a result at $81,000 over reserve through auctionservices.net.au. The campaign attracted 90 views, 13 contracts issued, and nine registered to bid.
The home was a well presented newly built home in a quiet street. Strong bidding came down to two bidders with a young family couple from the area the successful bidders.
A three bedroom at 21B Buckingham Street, Canley Heights listed through by Raine &amp; Horne Cabramatta fetched $605,000. At $55,000 over reserve, it was a fibro house on a dual occupancy block.
Cooley Auctions secured clearance a clearance rate of 74% across its 102 auctions. "Sydney market passes the big test," Andrew Cooley tweeted.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a> 
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Sydney's Super Saturday's 80% auction success but no festive result for Holly Brisley at Bondi Beach

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."

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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.

[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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