<html><body>
More data showing the number of first home buyers' finance commitments sits at very low levels in many states across Australia.
September saw just 12.4% of all loans financed were by first home buyers, the lowest level recorded since the ABS began recording this data in 1991, and below the longterm average of 18.5%.
FHBs represented just 6.8% of all owner occupier finance commitments in NSW in September.
FHB accounted for just 12.2% of owner occupier finance commitments in Victoria in September.
The overall number of FHB approvals down 27% over the past year.
But I don’t see it as much about affordability - on most estimates at near decade best levels - but rather the inevitable result of state and federal government decisions.
It’s the outcome of governments trying to herd FHBs into new houses and apartments, by changing the entitlement away from established homes for the highest entitlement in grants and stamp duty exemptions.
The ongoing weakness reflects the absence after FHB's rushed the last of the big grant entitlement in the pull-forwards in buying established home activity. NSW was the first of state governments to make the change in 2012, with others following in their subsequent budgets.
The state government decisions came against the backdrop of the long standing hesitation of FHBs for new housing stock.
The grant's new home limitation has meant a luke warm take-up by first time buyers who have traditionally sought established homes.
Normally just 20% of FHBs went with new houses and apartments.
Westpac economist Matthew Hassan said the weakening recent data had centred on Victoria where FHB approvals had collapsed by a third since June. The Victorian government only made its significant cuts in FHB assistance from July 1 this year.
NSW which is a year ahead of Victoria has seen levels of new home FHB purchasing ebb from the traditional 20% to around 40% at last budget.
Then there are issues of new home stock availability and location that are holding back the buying numbers.
Cost too, and traditionally FHBs were content with buying cheaper homes and then spending extra money over time on bathroom and kitchen improvements. Not all up front on initial purchase.
I recall economist Martin Bregozzo <a href="/news">writing on Property Observer</a> that the key factor in the purchase equation for a FHB was the stamp duty. He prepared the following table on the situation faced by a NSW FHB under the prior and current entitlements:
<div style="font-size: 14px;" align="center">
<table style="font-family: Verdana, Arial, Helvetica, sans-serif; font-size: 11px; border: 1px solid #666666; margin: 0px; border-collapse: collapse;" border="0" cellspacing="0" cellpadding="0" width="460"><tbody>
<tr style="background-color: #c0c9d0;">
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="215" nowrap></td>
<td style="padding: 0px 5px; border-width: 0px;" width="85">
pre-FHOG change
</td>
<td style="padding: 0px 5px; border-width: 0px;" width="64">
current situation
</td>
<td style="padding: 0px 5px; border-width: 0px;" width="96">
Equivalent purchase pre-FHOG
</td>
</tr>
<tr>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="215" nowrap>
Price of property
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="85" nowrap>
350,000
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="64" nowrap>
350,000
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="96" nowrap>
460,953
</td>
</tr>
<tr style="background-color: #c0c9d0;">
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="215" nowrap>
FHOG
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="85" nowrap>
7,000
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="64" nowrap></td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="96" nowrap>
7,000
</td>
</tr>
<tr>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="215" nowrap>
NSW Stamp duty
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="85" nowrap>
0
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="64" nowrap>
(11,240)
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="96" nowrap>
0
</td>
</tr>
<tr style="background-color: #c0c9d0;">
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="215" nowrap>
Legals
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="85" nowrap>
(900)
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="64" nowrap>
(900)
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="96" nowrap>
(900)
</td>
</tr>
<tr>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="215" nowrap>
Building &amp; pest inspection
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="85" nowrap>
(470)
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="64" nowrap>
(470)
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="96" nowrap>
(470)
</td>
</tr>
<tr style="background-color: #c0c9d0;">
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="215" nowrap>
Lender's mortgage insurance
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="85" nowrap>
(2,469)
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="64" nowrap>
(2,469)
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="96" nowrap>
(4,066)
</td>
</tr>
<tr>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="215" nowrap>
Bank establishment fees
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="85" nowrap>
(600)
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="64" nowrap>
(600)
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="96" nowrap>
(600)
</td>
</tr>
<tr style="background-color: #c0c9d0;">
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="215" nowrap>
Banks LVR
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="85" nowrap>
85%
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="64" nowrap>
85%
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="96" nowrap>
85%
</td>
</tr>
<tr>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="215" nowrap>
Funds required to complete sale
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="85" nowrap>
49,939
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="64" nowrap>
68,179
</td>
<td style="padding: 0px 5px; border-width: 0px;" valign="bottom" width="96" nowrap>
68,179
</td>
</tr>
</tbody></table>
</div>
From the above it can be seen that FHB wishing to purchase a secondhand $350,000 property today will require an additional $20,000 deposit. The table also highlights that FHBs who could have been in the market to purchase a $460,000 established property are now restricted to those priced $350,000 and below.
All highly predictable outcomes, but ignored by successive state governments who progressively introduced their own changes on grant entitlement and stamp duty subsidy. It was only in April this year that the Napthine government decided to scrap its first home owner grant for established house and apartment purchases from July 1, a decision I suggested was simply extraordinary.
<div style="font-size: 14px; text-align: left;" class="description">
I wrote they only had to look north to NSW and Queensland to see the folly of their new scheme that offers incentives only for first home buyers who make new home acquisitions. It was under the headline: <a style="font-size: 14px;" href="/news" target="_blank">Ill-directed new home building first-home buyers grant scheme extended to Victoria as Wayne Swan abdicates his responsibilities</a>, as the Federal Treasurer acquiesced on the states' new direction utilising the federal government co-payment.
The NSW Treasurer Mike Baird told Property Observer today that “first home owners are responding to the NSW Government’s targeted incentives, with first home owner grants for newly built homes up nearly 90 per cent in the six months to November compared to the same period a year ago.”
"When we came to government, the NSW housing sector was at an all-time low. Previous incentives to first homebuyers for existing properties simply increased mortgage sizes, as they increased demand without any boost to housing supply.
 
Notwithstanding the stark recent ABS figures, there was an interesting chart in this month's RBA chart pack on long term first home buyer numbers.
</div>
hovering around long term levels after the 2009 spike.
<img style="display: block; margin-left: auto; margin-right: auto;" alt="rba_graph_two" src="/images/stories/2013/11/06/rba_graph_two.gif" width="400" height="322">
Source: ABS
That surge in FHB numbers came after Wayne Swan's GST-triggered First Home Owner Grant Boost.
Naturally that boost brought forward plenty of demand, so it's to be expected numbers would fall after the boost went back to the lower grant levels.
Cameron Kusher at RP Data has provided Property Observer with FHB financing data going even further back which shows the peaks, troughs and patterns since the early 1990s.
<img alt="fhb_nov_12_one" src="/images/stories/2013/11/12/fhb_nov_12_one.jpg" width="470" height="178">
In February this year I wrote the FHB absence was becoming a major political and housing issue, <a href="/news">b</a><a href="/news">ut it presented a bonus for investors</a>, given the likely lack of competition in securing some properties.
And yesterday's ABS stats showed a 22% jump in investor financing over the past year, so they have seized the opportunity.
FHBs aren't being priced out of the market by unaffordability or property investors, just the result of highly foreseeable state government meddling.
</body></html>

jchancellor-FAypfDUnLy

Falling first home buyer numbers the result of state government FHB grant meddling

<html><body>
Its never been easy. Every generation of first home buyers has faced affordability obstacles and choices, but the noisiest of the latest batch of first home buyers would prefer to bleat rather than make the latterday sacrifices that were undertaken, in an earlier form, by their parents. 
I accept that the 2013 buying prospects are diminished, but the buying priorities and requirements appear almost non-negotiable by this so-called, doomed to rent for life generation.
At weekend auction, when the APM median house sale price was a likely record $1.065 million, I spotted at least 25 offerings sold at below $500,000, with opportunities for instance to buy a unit in Meadowbank, Cronulla, Parramatta, Summer Hill, Burwood, Five Dock, Croydon Park, even Bronte.
There were houses in Granville, Casula, Parramatta, Blackett and Fairfield West.
The weekend's cheapest sale was $191,000 for a four bedroom 1960s house on 1500 square metres in the Blue Mountains. The Bullaburra property, which sold to an investor, had last sold at $240,000 in 2007. The suburb's median house price is $377,000.
Sydney currently has 51 suburbs with median house prices below $400,000 including:
Tregear $240,000
Bidwill $250,000
Blackett $251,000
Emerton $252,000
Lethbridge Park $255,000
There are 122 Sydney suburbs with house medians below $500,000.
For units, it has 45 suburbs with median unit prices below $400,000.
There are some 98 suburbs with below $500,000 unit median prices.
That's out of the 650 Sydney suburbs.
Some of these options are located in the upper north shore, the inner west and the city and east, including Hornsby $450,000 units, Forest Lodge $456,000 units, Newtown $466,000 units, Ultimo $490,000 units and Eastlakes $410,000 units.
Yes APM has previously acknowledged the average distance from the city centre for the Sydney suburbs below $400,000 was 52 kilometres.
That's compared with 36 kilometres in Melbourne and 30 kilometres in Brisbane, APM noted.
But as Andrew Wilson, the senior economist at Australian Property Monitors recently noted, Sydney has a lower end housing market that is "as accessible, if not more accessible, than most other capital city markets."
With the Sydney median house price now exceding $700,000, it is the option for first buyers to look where they can buy new houses for less than $400,000 and existing stock for over $240,000.
Sydney, with its high median because the middle market is so strong, does has the buying prospects. They just have to be viewed as worthy, transitory, not unpalatable.
<a target="_blank" href="mailto:news@propertyobserver.com.au"></a><a href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
</body></html>

First home buyers have choices; but they deem distant western Sydney option unpalatable

<html><body>
<h3></h3>
The freestanding Surry Hills warehouse at 8-10 Marlborough Street has been sold for $5.7 million to an owner occupier who will operate a performance studio at the premises. It sold just $10,000 shy of the suburb's warehouse record price.
<a href="https://www.propertyobserver.com.au/https://www.bresicwhitney.com.au/#!/buy/7976" target="_blank">Set on 501 square metres</a>, it offered 986 square metres of space with concrete floors, industrial stairwells, exposed beams, timber-clad ceilings and the original open roof trusses.
It was marketed through BresicWhitney agents Shannan Whitney and Nic Krasnostein as an opportunity for residential/commercial redevelopment given its B4 mixed use zoning.
It has been tenanted offices for the Big Day Out and International Music Concepts.
It last sold in 2001 for $2 million, reflecting 8.4% annual price growth.
Called on market at $5 million, when residential developers were effectively price out, there was ensuing competition from another owner occupier who wanted it as a residence.
The Surry Hills warehouse record stands at $5.71 million through BresicWhitney and McGrath in February last year when vendors Neville Miles and his artist wife, Beryl sold their extensively renovated 247-square-metre Bennett Place holding, <a href="https://www.propertyobserver.com.au/new-south-wales/surry-hills-millionaires-show-a-flair-for-pricey-warehouse-conversions/2012022653560" target="_blank">marketed as arguably Sydney’s finest single-dwelling warehouse</a>.
The previous Surry Hills warehouse record holder was sold in late 2011 on Riley Street by entrepreneur Duncan Burns for $4 million through Laing + Simmons Double Bay and BresicWhitney. Property Observer notes a $1 million renovation was subsequently proposed for the 297 square metre land holding.
</body></html>

Warehouse fetches $5.7 million, just $10,000 shy of the Surry Hills record 

<html><body>
Artists Mark Howson and Karan Hayman - founding members of Fitzroy's Roar Studios, one of Melbourne's earliest artist-run-galleries - are selling their Melbourne apartment in the tightly held Vosti House.
Spanning four levels at the rear of the block, the penthouse style apartment has not been previously offered since its initial sale on its completion two decades ago.
It has been not only their home for 20 years, but also as a gallery for their work.
The apartment at 10/143-149 Franklin Street is configured with three bedrooms and has indoor/outdoor living.
{yoogallery src=[images/stories/2013/11/11/nov11howson]}
There are two rooftop terraces with city views totalling 92 square metres.
With 268 square metres indoor living space, it is the largest of just 13 apartments in the block which was converted from a 1950s office block.
Close to the Queen Victoria Market, the apartment has a car space.
It has been listed for November 23 auction with $1 million plus hopes through <a target="_blank" href="https://www.realestateview.com.au/Real-Estate/10-143-franklin-street-melbourne/Property-Details-buy-residential-6266843">Eleanor Smith and Stephen Smith of Caine Real Estate</a>. Its been marketed as a mix of light, texture and intriguing artistic concepts.
The couple, who will retain a studio in the building, are contemplating moving to Kyneton to get back into country life.
Property Observer recalls in 1995 the typical two bedroom units in the block with one car space were available at $230,000 and two 2 bedroom and study with one car space were priced at $320,000.
Its located a few doors from the Nonda Katsalidis' Melbourne Terrace which is recognised as initiating the rejuvenation of the then neglected part of the city. 
</body></html>

Artists Mark Howson and Karan Hayman list Melbourne apartment 

<html><body>
Some interesting data from RP Data on the unsuccessful auction aftermath.
Sydney's auction clearance rate, which is currently trending at a very strong 79%, sits 9% higher at 88% when properties sold in the month after the auction are taken into account.
Melbourne's clearance rate, trending at 71%, is 13% at 84% higher, when the post-auction sales are included.
Brisbane's typcially lower clearance rate of 51% is 20% higher at 71% after post-auction negotiations.
The RP Data analysis includes properties sold up to 30 days after the auction to see how successful the auction process is in achieving a sale for the vendor
"Even if property is not successful at the auction - although most are currently - they are gathering quite a lot of attention and negotiations in the vast majority of cases are resulting in a quick sale afterwards anyway," said senior analyst at RP Data, Cameron Kusher.
If we are to believe Fairfax Media, the high sales success rate has been accompanied by more people seeking help for depression given a so-called "phenomenon becoming known in the property industry as GOMO - Grief Over Missing Out."
This is the anguish felt by those who pin all their hopes on buying a particular property but are outbid at auction.
Losing bidders "are increasingly slipping into a state similar to clinical depression," experts advised in Saturday's Domain SMH and The Age.
The Fairfax Media report even suggested it was a feeling similar to that experienced by a bride or groom who is jilted at the alter given the intending buyers had invested a lot of time, energy and money into the property search.
Of course GOMO followed FOMO. It was only a few months ago when Fairfax Media Domain reported on the "FOMO - fear of missing out disease " with buyers frantically chasing properties with little regard of comparative values.
Wonder what acronym-driven disease Domain will come up with next?
</body></html>

Fear Of Missing Out morphs into Grief Over Missing Out in property auction coverage phenomena

<html><body>
It is the sellers' market to end all sellers' markets, said APM's Dr Andrew Wilson as an 83.7% auction clearance rate was secured on Sydney's busiest auction day ever.
Opera singers Patrick Togher and Romola Tyrrell were celebrating the high note having sold their Newtown Victorian-era terrace for $1.65 million at auction this weekend.
It was initially listed with $1.4 million plus hopes but this expectation was revised upwards after early buyer feed back to the Raine &amp; Horne selling agent Michael Harris to $1.5 million plus.
The tenor and soprano have lived at the four bedroom, three bathroom Yaralla Street terrace since they paid $395,000 in 1993, reflecting 7.3% annual growth.
Three of the seven registered bidders put in auction bids, selling to buyers who had been in the market for most of spring.
At Rozelle, the day's first auction resulted in a $1.455 million sale to buyers who were fresh to the market. The charming renovated late 1800s cottage - with pressed metal ceilings and walls, polished Kauri floors and original fireplaces - had been listed with published $1.2 million plus hopes for its 9am auction.
Beating off two other registered bidders, the Rozelle buyers paid $100,000 over reserve, and escaped the so-called newest tabloid media phenomenon afflicting would-be buyers , of  ''GOMO'' Grief Over Missing Out."
The Rozelle offering kicked off the record 784 properties scheduled for auction on Sydney's Super Saturday - which sits amid three consecutive 700 plus auction weekends. The record day follows last weekend's 747 listings and precedes next weekend's 759 auction offerings.
The 2013 spring market was your one-in-a-hundred-year auction market, said Dr Andrew Wilson, the senior economist at Australian Property Monitors who expects prices to peak this quarter and level out in the 2014 first quarter.
Before this spring there had been <a href="https://www.propertyobserver.com.au/news/strength-of-the-vendor-mindset-and-auction-bounce-to-be-tested-by-upcoming-super-saturdays/2013100265434" target="_blank">just three days with more than 700 auctions in Sydney</a>, the last being in March 2012.
It was Sydney's turn for the record books. But with 1317 auctions reported to the REIV, and some $1.2 billion worth of property sold, Melbourne had its record Super Saturday only last month, and this weekend Melbourne agents secured a clearance rate of 71% from the 876 auctions reported to the REIV. Next weekend the REIV expects around 1280 auctions.
Sydney's infectious inner west auction engine room was the most popular suburban region for auctions this weekend with 135 scheduled, followed by the upper north shore with 126, the south with 94, the city and east with 67, the west with 64 and the lower north with 53.
APM had Epping as the day's busiest auction suburb with 10 homes. The next most popular were Maroubra and Burwood, each with nine auctions, followed by Merrylands, West Ryde, Willoughby and Oatley, each with eight auctions.
Even though the 2013 spring listing numbers have surged to record levels, pent-up buyer demand has prompted 16 out of the past 18 weekends clocking up auction clearance rates above 80%. This weekend it was 83.7%, based on the initial APM tally, although Property Observer notes last weekend's late notified results took the revised tally to 77%. There are some 300 results yet to be included in this weekend's Sydney tally. 
It is a sellers' market to end all sellers' markets, Dr Wilson has suggested.
However the former Wallaby Peter Jorgensen and his wife, Jo, withdrew their Victorian terrace in Balmain from today's schedule.
Jorgensen, who switched to rugby league in 1995 to play for the Roosters and later the Panthers, bought the Elliott Street property in 1999 for $610,000.
There was a major renovation by Jo in 2009 which opened up the reare of the house along with a pool.
Jorgensen, an investment adviser at Evans and Partners, had hoped the four-bedroom home would fetched $1.75 million plus.
A nearby Leppington bushfire held up the auction of 5 Francis Street at Bringelly. Its a four bedroom house on five acres with 100 dog accomodation which was listed with $850,000 plus hopes.
After a short delay, it was sold by auctionservices.net.au auctioneer Rocky Bartolotto for $950,000.
The weekend's highest sale was $6.89 million through McGrath estate agents Hamish Robertson and Nigel Mukhi of a Lavender Bay apartment. The Maritima apartment at 4/8 King George Street had 616 square metres space including 290 square metre harbourfront terracing. It had four double bedrooms plus a private marina berth to accomodate a 40 foot vessel.
It last traded at $6 million in 2005, reflecting 1.6% annual growth, but did break through the block's previous record price which stood at $6.55 million for the sale of units three and unit seven. The weekend sale offering had first sold at $1.9 million in 1993, reflecting  6.6% annual growth.
The cheapest weekend sale was $280,000 in Kingsford for a one bedder apartment. It last sold at $100,000 in 1992, reflecting 4.8% annual growth.
The Forsyth Street block's last sale was $350,000 for an apartment previously sold at $111,000 in 1994 and at $87,000 in 1990, reflecting 6.2% annual growth in both instances.
</body></html>

From $280,000 to $6.8m - no grief for vendors as Sydney's streetside auction opera hits record Super Saturday note

<html><body>
The Mosman mayor Peter Abelson says the council will back down on the proposal for the suburb to be divided into five separate suburbs, each with different names.
Under the council plan before the NSW Geographical Names Board, what was known collectively as Mosman would have become what one commentator described as "a hydra-headed" bunch of localities.
The proposal to split the suburb into five - including creating the suburb Balmoral Beach to its east, Clifton Gardens to its south-east, and Beauty Point to the north-west - will now no longer proceed.
The mayor noted in today's letter to residents that the reversal followed "the public response" during the consultation process.
Although locals already refer to these discrete areas, all of the pricey homes currently fall under the umbrella suburb of Mosman and its 2088 postcode.
As reported in by the Mosman Daily last week, the plan has received criticism from local residents and business owners.
Local Richardson &amp; Wrench Mosman agent Robert Simeon wrote on his Property Observer blog that "<a target="_blank" href="https://www.propertyobserver.com.au/trends/the-lunatics-have-taken-over-the-asylum-attempt-to-divide-mosman-is-bureacracy-gone-mad-robert-simeon/2013110566083?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=observations">the lunatics are trying to run the asylum!</a>"
"At the end of the day it is Mosman 2088, so I see the attempt to subdivide Mosman into five new identities is nothing more than bureaucracy gone mad," Robert Simeon said. 
Housenet.com.au columnist Darren Moffat noted there was a suspicion amongst locals that the plan was really a stalking horse to boost exclusivity - and therefore property prices - in Balmoral Beach by allowing it to become a stand alone suburb.
<a target="_blank" href="https://www.housenet.com.au/blog/776/mosman-name-change-divides-local-council-community/">He suggested Mosman would become "a hydra-headed bunch of euphemisms such as 'Clifton Garden', 'Beauty Point', 'Mosman Bay', 'Balmoral Beach' and 'Mosman'."</a>
"Hurrah. Proposal to split Mosman into 5 suburbs ditched. Sense has prevailed!," <a target="_blank" href="https://twitter.com/PnPBookseller">Jon Page</a>, the Mosman bookseller tweeted.
The <a target="_blank" href="https://www.gnb.nsw.gov.au/place_naming/current_proposals/locality_proposal?id=32018">plan for Mosman name changes </a> are on display until November 18.
The mayor's letter to residents today said he regretted "that in my recent special occasional letter discussing the possible use of geographical names in Mosman I inadvertently provided significant misinformation."
"As described there, the intention behind the council proposal for consultation on the use of historic geographic names, such as Balmoral and Beauty Point, was to allow residents the choice whether to use the local historic name or simply Mosman as was done traditionally. 
"Today, in response to Council questioning, the Geographical Names Board advised Council that it does not allow this choice.
"If an area were renamed, residents of that area would be required to adopt that address albeit that all areas would share a 2088 postcode.
"This substantially changes the nature of the proposal and is contrary to the intentions of all councillors, who I know had no plan to force anyone to change their address.
"Not surprisingly, many residents object to being forced to change their address and indeed to a forced division of Mosman.
"If the GNB constraint had been known at the time of the Council resolution to consult about possible changes, I doubt that Council would have adopted the resolution.
"The GNB has further advised that if Council recommends against the proposal following the public consultation, the proposal will not proceed.
"Given the changed circumstances as well as the public response during the consultation process, I have prepared a Mayoral Minute for the Council meeting next Tuesday, November 12, recommending that Council advises the Geographical Names Board that Council no longer supports the proposal."
</body></html>

Mosman mayor backs down on hydra-headed 2088 suburb name change proposal

<html><body>
The proximity to schools is not as key factor in buying family homes as previously thought, according to a recent survey undertaken for Aussie, the home loans broker.
The survey of 2,400 respondents shows that the number of bedrooms, and the size of a property were the most important when it comes to family purchases, followed by off-street parking and affordability.
Aussie boss John Symond has noted the survey showed that off-site factors like proximity to schools and public transport were not as important in buying considerations as many commentators thought, myself included.
"Buyers are showing preference for the attributes of the property itself for families," he said.
"A logical conclusion to be drawn from the survey is that people are prepared to travel longer distances to work and schools, with the features of the house or apartment now the top priority for families," he added.
<table width="372" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td nowrap width="64">
Rank
</td>
<td nowrap width="308">
Top 15 Factors - Family growth
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom">
1
</td>
<td nowrap width="308" valign="bottom">
Number of bedrooms
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom">
2
</td>
<td nowrap width="308" valign="bottom">
Overall size of block
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom">
3
</td>
<td nowrap width="308" valign="bottom">
Garage / off street parking
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom">
4
</td>
<td nowrap width="308" valign="bottom">
Affordability
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom">
5
</td>
<td nowrap width="308" valign="bottom">
Size of back yard
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom">
6
</td>
<td nowrap width="308" valign="bottom">
Number of bathrooms
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom">
7
</td>
<td nowrap width="308" valign="bottom">
Construction
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom">
8
</td>
<td nowrap width="308" valign="bottom">
Capital Growth
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom">
9
</td>
<td nowrap width="308" valign="bottom">
Neighbourhood - Family friendly
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom">
10
</td>
<td nowrap width="308" valign="bottom">
Number of parking spaces
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom">
11
</td>
<td nowrap width="308" valign="bottom">
Proximity to - Public transport
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom">
12
</td>
<td nowrap width="308" valign="bottom">
Proximity to - Primary school
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom">
13
</td>
<td nowrap width="308" valign="bottom">
Proximity to - Work
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom">
14
</td>
<td nowrap width="308" valign="bottom">
Entertainment area - External
</td>
</tr>
<tr>
<td nowrap width="64" valign="bottom">
15
</td>
<td nowrap width="308" valign="bottom">
Entertainment area - Internal
</td>
</tr>
</tbody></table>
 Source RP Data/Aussie Home Loans survey
</body></html>

School proximity not that important - even for family home buyers: Aussie survey

<html><body>
Carrara Road, a small special strip with just the 13 houses above the Hermitage Reserve at Vaucluse, comes with three home owners who've undertaken two-block consolidations.
Mitsui, the Japanese trading company, has been there since it paid $1.75 million in 1985.
Then there's the nearby Mediterranean-style house set on 1,603 square metres, and known as Carrara, that last sold in 2010 at $26.75 million, reflecting around $17,000 a square metre land value. Title Tattle recalls the house cost $2 million in 1985 and then the tennis court block was bought for $2.775 million in 1987. 
<img src="/images/stories/2013/11/08/Carrara_view_lo-res.jpg" alt="Carrara_view_lo-res" width="470" height="385">
And then lastly the SW3-based expatriate financier Andrew Ipkendanz spent $10.6 million in 1997 to consolidate his 1966 square metre holding on Carrara Road. 
Ipkendanz is only just completing the bespoke home, and has decided he will remain in London with his Brazilian wife, Mariana.
It is a Peter Stutchbury-designed abode (pictured above) sited on a sandstone footing that integrates into its environment. Apart from structural concrete, the home has been constructed using natural materials including sandstone, copper, natural stone and indigenous hardwoods such as cedar and spotted gum.
Set over four levels with a lift, the property comes with more than 2,000 square metres of internal space with seven bedrooms, office, parent's suite, vast formal and informal living areas, guest quarters, games room, his and hers change rooms, 20-metre swimming pool, plus boatshed, and garaging for five cars.
“I first saw the site by boat," Ipkendanz says.
"I knew then that I wanted to build the most beautiful home on Sydney Harbour and it would be here.
"I sourced a team of the best from all over the world.
"My brief was to create the most architecturally significant house on Sydney Harbour.
"We planned every centimetre of its 2,000 plus square metres to the last nail.
"Then we began to build.
"It has been seven years," he noted.
Its listing agent Alison Coopes forecasts the home will not be matched for a very long time, "if ever.” 
The 6 Carrara Road marketing campaign that kicked off today bills it as "Australia's finest property" which presumably is an indicator as to its undisclosed ambitious price expectations.
Coopes remains coy but confident in her objective, underpinned by <a href="https://www.alisoncoopes.com/" target="_blank">her recent $52 million sale of Altona, the Point Piper harbourfront</a>.
It will certainly set a Vaucluse record which has long been with Coolong, the dated beachfront residence of expats Ivan and Marina Ritossa who paid a then $45 million Sydney record price in 2008 buying from the late Allco founder David Coe through agents Bill Bridges and Hamish Robertson.
Coolong with private beach was built for Sir Alexis Albert, from the Boomerang music songbook family, on the 4,100 square metre block in 1936. Its last price represented $11,250 a square metre.
Since earlier this year, Sydney's Altona has held the record as Australia's priciest home. The harbourfront house in Point Piper fetched $52 million when sold through Coopes by Deke and Eve Miskin to a Chinese family, who currently have tradespeople at the eight-bedroom, seven-bathroom house on Wunulla Road. The Altona price reflected $20,000 a square metre land value. The subsequent nearby Bang &amp; Olufsen house sale on Wolseley Crescent reflected $24,000 a square metre land value.
The runner-up honour most likely sits with Villa Veneto, the harbourfront mansion on Wolseley Road, Point Piper which was sold in 2010 by Andrea Banks, the wife of head hunter Andrew Banks, to the Penn family for around $52 million. The Italianate style five-level mansion was designed by architect Michael Suttor with six-bedroom, nine-bathroom house with a 21-person lift. Set on a 1426 square metre block, its sale price reflected $36,000 a square metre land value.  
 
Ipkendanz's property portfolio also includes a five-storey, brown-brick terrace, with octagonal corner he purchased on Tedworth Square in London's Chelsea.
Title Tattle recalls it's the next one along from where Mark Twain lived in 1896 when writing Following the Equator.
The book included his Australian tour description of our harbour as the darling of Sydney and the wonder of the world, adding Sydney was an English city with American trimmings.
And if he visited now - international prices too.  
<img src="/images/stories/2013/11/08/Carrara-nov-8-two.jpg" alt="Carrara-nov-8-two" width="470" height="571">
</body></html>

Andrew Ipkendanz officially lists his organic Sydney Harbour home with bespoke trimmings

<html><body>
The former 60 Minutes reporter Ian Leslie and his wife, Jan, are selling their Lovett Bay home with $3.5 million plus hopes.
The Pittwater boat-access only 1920s three bedroom cottage sits on about 3050 square metres.
They have been based on Bona Crescent on Pittwater's western foreshore since 1992 when they paid $685,000.
A $2.3 million Sturdee Lane sale in July was Lovett Bay's last sale, but it took 591 days to occur after being listed with $4.4 million hopes.
<a href="https://www.propertyobserver.com.au/forward-planning/advice-and-hot-topics/trophy-homes" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/08/PO_Strap_new.jpg" alt="PO_Strap_new" width="470" height="60"></a>
</body></html>

Ian Leslie lists on Pittwater at slow moving boat-only access Lovett Bay 

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

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News