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The expatriate Australian billionaire philanthropist Sir Michael Hintze has added another three NSW properties to his east coast farming portfolio.
It included a $2 million for a 609 hectare Wee Waa farm in the New England district. There was also two farms at Walgett adding 948 hectares at a $1.75 million cost.
The London-based hedge fund founder has amassed one of Australia’s fastest-growing farm portfolios, with Title Tattle counting freehold acquisitions totalling around 51,000 hectares since 2007. His private pension fund, MHPF, has spent about $125 million on the freehold land along with an estimated $10 million plus on water licence purchases.
Hintze founded CQS Management, a London-based hedge fund with assets of $US11.5 billion, in 1999. The CQS Directional Opportunities Fund has been ranked by Bloomberg at number three on its list of the 100 top-performing hedge funds, returning nearly 36% net of fees last year.
He was raised in Sydney after the family arrived from China as ethnic Russian refugees in 1953. He holds a BSc in Physics and Pure Mathematics and a BEng in Electrical Engineering, both from the University of Sydney. He also holds an MSc in Acoustics from the University of New South Wales, an MBA from Harvard Business School and received a Doctor of Business and an Honoris Causa from the University of New South Wales. 
Prior to beginning his career in finance, he served for three years in the Australian Army as a captain in the Royal Australian Electrical and Mechanical Engineers. The hedge fund chief, who spent 12 years at Goldman Sachs in roles such as head of European emerging markets, left Sydney in 1980 for Salomon Brothers in New York.
In June 2013 he received a knighthood in recognition of his substantial charitable contributions to the arts in the United Kingdom. 
His most recent purchase was in Queensland costing $2.35 million for a 166 hectare sugan cane farm which took his Horseshoe Lagoon holdings to 572 hectares costing $9.3 million.
Hintze, whose wealth has been estimated by Forbes magazine at $US1.6 billion, has said he was not just looking for capital gain from the properties. He says he seeks solid returns on production.
His purchases have been driven by the view that rural land in Australia represents good value in light of the strong global demand for “soft commodities”. 
Hintze's buying spree began when he spent $12.5 million for a Breadalbane property in July 2007. <a href="https://mhpremiumfarms.com" target="_blank">The Hintze portfolio</a> has been accumulated and managed by Richard Taylor, a director of Growth Farms Australia. 
''I'm not a farmer, but I do the numbers. It's got to make money,'' Hintze once said.
More recently he noted: “I wish the dollar were lower as it would be easier in farming.”
He added Australia was expensive even for dining.
“The days when there was an arbitrage in saying, ‘Don’t worry I’ll buy you a meal when I come to Australia and you buy me one when you come to London.’ It’s gone the other way around,” Hintze quipped.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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jchancellor-FAypfDUnLy

Expat billioniare Sir Michael Hintze spends another $3.75 million on NSW rural empire

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CBRE estate agents sold 378 apartments off the plan on the weekend to keen buyers in North Ryde.
It was at the Macquarie Park Village where prices ranged between $480,000 and $980,000 in the first stage of Stamford Land Corporation's Macquarie Park Village at 110 Herring Road. 
The Singapore-listed Stamford Land Corporation last month opened the display room to inspectees of its $420 million residential development.
On the first weekend they had 400 groups inspecting the AJ+C-designed apartments. 
CBRE agent Ben Stewart said pending buyers had then paid $5000 to register for today's sale of units. The sales grossed around $260 million.
It's part of a redevelopment of the site of the Stamford Grand North Ryde Hotel into apartment towers. The 378 sales has been suggested as being the highest number of same day sales on record in Sydney, exceding Mirvac's 37-level Chatswood tower ERA, which secured 295 same day sale in 2011, also with a high proportion of Chinese-Australian community buyers.
Stamford Property Services secured permission to redevelop its hotel site at Macquarie Park after winning state government approval in October 2012.
The Stamford Grand North Ryde will be demolished and replaced with apartment towers of four?to 20 storeys, in a mixed-use project known as Macquarie Park Village.
The project will have 576 apartments, 746 car spaces, with some commercial and public spaces. On completion, Macquarie Park Village will comprise seven residential apartment buildings, named after Australia’s state or territory capitals. Stage one buildings are The Adelaide, The Brisbane, The Darwin and The Perth followed by The Hobart, The Melbourne and The Sydney in stage two.
Stamford's Anthony Rice has described the apartment product as “middle ­market” noting a latent demand from the 25,000 to 30,000 people working within the ­Macquarie Park area and those working and studying at the nearby university.
The NSW government’s Planning Assessment Commission said the site was appropriate for higher density housing because of its location and the area’s changing nature shifting from a light industrial and business park area to a high-tech specialised urban centre, supported by the recently-built Epping to Chatswood rail line.
But recently retailer Gerry Harvey failed to secure redevelopment permission for converting the Domayne/Harvey Norman store site into an apartment and office development.
Harvey Norman sought 229 apartments for its 1.97 hectare site in Macquarie Park plus a 12-storey office tower above the existing Domayne building.
The group hoped to also construct a new hotel, which was likely to be a Stamford, although other operators were also in the frame.
Gerry Harvey described the site, on which he built the existing store in 2003, as a “gold mine”, perfect for the launch of the group’s apartment and hotel ambitions.
But Ryde Council engaged property consultants SJB Planning to review the proposal. SJP Planning recommended the development not proceed citing Harvey Norman’s proposal for residential apartments as not aligning with the council’s goal for the precinct as an economic hub with employment opportunities.
The report prepared by SJP stated Harvey Norman's analysis of the impact of merging residential and commercial developments was not persuasive enough to justify changing the council's original plans.
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<a class="cboxElement" href="https://mpvliving.com.au/images/Home/03_large.jpg" rel="lightbox[property]" style="margin: 0px; padding: 0px; color: #000000; text-decoration: none; font-family: quicksandbook; font-size: 15px;">T</a>he Macquarie Park Village.
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The CBRE marketing campaign had the slogan: Live on the Bright side.
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Macquarie Park Village secures same-day 378 apartment sales on initial North Ryde offering

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The annual Grafton Jacaranda Festival has wrapped up for another year - its 79th - where locals celebrate the flowering of Grafton’s broad tree lined avenues.
Our He Said/She Said column last week focused on the blooming Jacaradas around Sydney so we asked Property Observer reporter Nicola Trotman to take a look at the suburb that is famous for such trees.
Located north of Coffs Harbour on the way to Ballina, <a href="/news">Grafton</a> has a median house price of $250,500, a 2.2% change in the past five years, according to RP Data.
The median house rent is $295, reflecting a 6.1% rental yield.
We couldn't miss last weekend's sale of 68 Powell Street (pictured below) which had the jacaranda at the forefront of its marketing by <a href="https://www.realestate.com.au/property-house-nsw-grafton-115133763" target="_blank">Bailey &amp; Gough First National</a>. The three-bedroom brick cottage had a backyard with garden shed for the required rake. Selling agent Rod Ford had the two registered bidders at its auction resulting in a $305,000 sale. It last sold in 2003 at $190,000, reflecting 4.6% annual price growth.
<img alt="grafton_nov_8_wo" height="353" width="470" src="/images/stories/2013/11/08/grafton_nov_8_wo.jpg">
The agency has Huntingdon, an 1880 home that's been the abode of Lord Mayors to mining magnates on its books at $399,000 plus price hopes. Not just a jacaranda but an old fig tree<a href="https://www.graftonrealestate.com.au/index.cfm?pagecall=property&amp;propertyid=2198294" target="_blank"> on the 1975 square metre block on Mary Street</a>.
<img alt="grafton_nov_8_three" height="313" width="470" src="/images/stories/2013/11/08/grafton_nov_8_three.jpg">
A five-bedroom home on <a href="https://www.realestate.com.au/property-house-nsw-grafton-115207903" target="_blank">Fry Street</a> (pictured below) boasting a large Jacaranda plant in its front yard is listed for a November 13 auction.
{yoogallery src=[images/stories/2013/11/08/graf]}
Situated on 759 square metres, the property last traded in 2009 for $423,000.
Meanwhile, a four-bedroom home known as <a href="https://www.realestate.com.au/property-house-nsw-grafton-113844599" target="_blank">Arcola</a> is on the market for $895,000.
The property features historical gardens, high ceilings and Italianate influences and has previously been featured in The Sydney Weekender.
Arcola was built in 1907 for Violet McLachlan, who lived there until she was 101 years old.
The property traded hands in 2002 for $280,000 but has since been restored. 
HE SAID<img style="float: right;" alt="jc-silhouette-5" src="/images/stories/2013/09/06/jc-silhouette-5.jpg" width="100" height="150">
Anyway as suggested last week be sure to photograph your property for future listing while jacarandas are in flower as any pictures taken now can be stored ready for future marketing campaigns.
That way rather than delay any auction listing until the garden looks right, the photos will ensure buyers see the place in full bloom, even if it's not the season.
<img style="float: left;" alt="mb-silhouette-4" src="/images/stories/2013/09/06/mb-silhouette-4.jpg" width="100" height="150">SHE SAID
And don't overlook go hard with the herbicides, as carried by the seepage of water under the soil, they can be quite damaging to jacarandas which have fairly shallow roots.
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Trophy home listings and sales on the jacaranda lined avenues of Grafton

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Penrith councillors are disgruntled they were asked to give approval to the Fernhill Picnic Race Day six weeks after tickets to the gala Mulgoa event were available for sale. 
Its eleventh hour late-October approval comes against the backdrop of internal council concerns over raw sewage leakage at the historic property (pictured below) hosting the event this weekend.
{yoogallery src=[images/stories/2013/10/11/mul]}
"Council is currently investigating the onsite sewage managment systems currently operating on the site," Ashlee Cutter, the environmental health officer wrote on October 30.
"Council is continuing to investigate this matter, however it is complex and this investigation may take some time," she wrote following the council's initial two inspections of the onsite sewage management system (ossm) associated with the main house.
The complaint was made to the council on October 21 after a backpacker staying at Fernhill advised their displeasure.
The council records indicate "recent works had been undertaken to the system to ensure that effluent was not being directed into a nearby stormwater drain." The initial complaint alleged the raw sewage was overflowing into a creek that flows into the holding dam which provided reticulated water supply to parts of the property.
"Council has sent correspondence to the owner of Fernhill estate requesting works be undertaken to the ossm system and portable water associated with The Hayshed," the internal council file reveals.
At the recent meeting councillors were presented with the race day meeting development application for the November 9 race day. It required subsequent NSW Heritage section 60 issuance which was granted last week despite concerns that the 8000 anticipated cars would damage the estate's eco-system.<img src="/images/stories/2013/11/05/fernhill_ad.jpg" width="200" height="267" alt="fernhill_ad" style="float: right;">
Tickets ranging from $30 for general admission to over $200 for packages have been on sale since September 10, heavily advertised on Radio 2GB. 
“This puts Council in a really difficult position – if we said no to the event then we would have every shock jock complaining that council has too much power, and if we said yes and something goes wrong, it’s lose-lose,” Cr Jim Aitken told the council meeting. 
“There are have been some developments that have taken place without council’s approval and council has dealt with these matters appropriately, but it is concerning and disappointing that due process was not followed,” he said.
Cr Jackie Greenow said she was disappointed with Fernhill given that the picnic race ticketing system had no limit on the overall number of people. 
“I really feel like I have been put over a barrel,” she said according to a report in the local paper, The Western Weekender. 
“There are 20,000 tickets for sale... but this does not include children under 14 who do not need a ticket to attend, so we could have every ticketed person turning up with a tribe of children and have no way of knowing how many people are there.”
Concerns about traffic management were raised, although the latest ticket sales advice suggested to date there had been 3000 to 4000 ticket sales.
A majority vote saw permission granted for the event despite Councillors Jackie Greenow, Jim Aitken and Karen McKeown voting against the proposal.
Brenda Tripp, CEO of Fernhill, has said that the event was a "massive coup" - a first for Penrith and for Sydney. 
She said that her family was passionate about opening the doors to the property, which dates back to a 1810 grant to William Cox.  "We don't want to be the next casualties of Fernhill, we want to open up the gates because we believe we have the vision and energy to ensure it becomes the Fernhill of the future," Brenda Tripp told the local paper.
The estate had been host of the recent Tough Mudda event.
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Penrith Council investigating sewage leakage at historic Fernhill estate ahead of picnic race day

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It started with the Darling family at North Bondi, now fashion retailer Robby Ingham is set to follow the highly limited trend of converting a dated oceanfront apartment block into a family home.
His four floor Tamarama apartment block (pictured below) cost $14.45 million in the recent off market acquisition.
{yoogallery src=[images/stories/2013/11/01/tam]}
The Ingham family have lived in the eastern suburbs coastal suburb since 1994 but outgrown their longstanding dual-semi block abode. This will be their family compound.
Title Tattle kept getting agent reports that they looked for a while at prestige eastern suburbs harbourfront offerings, but the call of ocean was seemingly the ultimate familial deciding factor.
The block of six, once known as Kenneth Manor, on its 564 square metre block was sold by Vaughan Blank's STM 123 Pty Ltd. It came with council approval for three luxury apartments by Brian Meyerson's MHNDU for the site that slopes southwards from Kenneth Street to Gaerloch Reserve overlooking MacKenzies Bay.
There were initial plans prepared by Tobias Partners back in 2006 for prior owners, Capital Globe Australasia Pty Ltd, but never proceeded with after CG being placed into receivership. Some time later Shaquil Haque, the chairman of Capital Globe who lived in Sydney, and the company's chief financial officer, Charles Young, were murdered after being shot at point-blank range in Pakistan in May 2010.
There are just 12 buildings within the row of buildings on the southern side of Kenneth Street, and most recently a four-level 1920s single dwelling was set for a new Durbach Block Jaggers-designed residence.
It's not the first time the idea of apartment conversion to single residence has been proposed as it was mid-2011 when Michael Darling, the chairman of Caledonia Investments and scion of the establishment pastoral and mining family, and his wife, Manuela Darling-Gansser, <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/michael-darling-buys-north-bondi-apartment-block-for-%2414-million/2011060750427">spent $14 million to buy a prized oceanfront North Bondi residential building site</a>.
The somewhat neglected five-storey apartment North Bondi block is being converted into a luxury condominium compound for the Bellevue Hill family. 
Set on the rock shelf known as Mermaid Rocks on the ocean shore at North Bondi, the building comprised 10 apartments that had been consolidated at a cost of $14 million between 2006 and 2008 by the retired IT entrepreneur Neill Miller.
The Art Deco 1930s Ramsgate Avenue block was marketed as the only privately owned apartment building with direct ocean access on the Ben Buckler peninsula.
The urbane Oxford- and Harvard-educated businessman is regarded as one of Australia’s savviest investors, having sold the family’s 41% equity in the finance house Clayton Robard for about $200 million shortly before the 1987 stock market crash.
Darling, a descendent of the pioneer John Darling and the son of long-time BHP director L Gordon Darling, was a McKinsey &amp; Company consultant in the mid-1970s. I seem to recall he once climbed Mount Everest as far as Camp 3.
Architect Nick Tobias, of Tobias Partners, and Darling’s son-in-law, is undertaking the North Bondi redevelopment.
 
<img src="/images/stories/flagtitletat.jpg" width="25" height="34" alt="flagtitletat" style="font-size: 14px; margin: 5px; float: left;">
In February Title Tattle spotted something quite special happening at Bronte too. 
The funds manager Seumas Dawes and his wife, Rosemary Seaton, having initially spent $12.3 million for a large, modern three-storey residence on 801 square metres in 2006 along the exclusive strip known as The Cutting, added the $16.5 million neighbouring house.
They earmarked it for bulldozing under Weir Phillips Architects garden and garaging plans for the extra 778 square metre holding - <a href="/news">with a mega mansion likely to be the result of the rare chance of consolidation</a>.
 
<img src="/images/stories/flagtitletat.jpg" width="25" height="34" alt="flagtitletat" style="font-size: 14px; margin: 5px; float: left;">
There was a potential postage stamp-sized building block on Sydney Harbour in the early 1980s which required thinking outside the box.
Once a right-of-way slipway for nearby flat owners, the Darling Point house (pictured below) dates to the early 1980s when built by the veteran property developer Bill Shipton. Set on a small sandy beach between historic Carthona and Neidpath, the Carthona Avenue has now been listed by the Melbourne-based landscaper Jack Merlo. The waterfront property which comes with $7.5 million plus hopes is just 207 square metres. It has been availabe during Merlo's ownership at $3500 a week rental.
{yoogallery src=[images/stories/2013/11/01/darl]}
It is best known as the former home of Lady (Susan) Renouf, who sold it in 1997 for $2.9 million to Melbourne socialite Dianne Allen through the Double Bay agents Marcia Resch and Jane Ashton. Merlo paid $6.15 million in 2009. Before the Melbourne trio took hold of the bijou sur mer, the four-level property with a pool, had some colouful Sydney characters as past owners. 
In the late 1980s it lay dormant when owned by absentee investor, and nearby The Swifts' resident, Carl Spies - other than its use by skylarking rich squatters for weekend raves. The waterfront - just over six metres wide - was then lavishly restored by stylist Barry Byrne under the patronage of landlady Dorothy Spry, who paid $2.4 million in 1989. 
Lady Renouf's mark was making the sandy beach house function as a home. Her French-inspired home was her fifth NSW residence, the most famous being Point Piper's now long demolished, Toison d'or aka Paradis Sur Mer or Radford by oldtimers. Title Tattle heard this week a story about the Point Piper mansion's front door keys, but that can wait another time.
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Oceanfront apartment block conversion to single family abodes the latest Sydney fashion

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Mintaro, the 1882 Monegeetta, Sunbury district mansion, has been relisted for November 16 auction after last November's $3 million sale failed to proceed to settlement.
It's been given a $2.85 million reserve price ahead of the November 16 auction by the listing agent John Keating of Keatings Real Estate.
The <a target="_blank" href="https://www.keatings.com.au/view-property/?OID=6221493">elegant but crumbling Italianate mansion</a> had sold to Toolern Vale couple Brian and Cheryl Glassel whose bank had been difficult for the heritage-listed property loan.
They planned their own "Country House Rescue'' with tours and dining experience set to make the "property pay for itself."
More than 500 attended last November's onsite auction, with three bidders who'd placed bids of $2.775 million or higher.
The Glassel purchase loan of the heritage-listed Mintaro depended on them selling their own historic mansion, Pinewood, on 97 hectares at Toolern Vale. While part of the land was sold, the 97 hectare property remains for sale at $3.1 million.
The 9.9-hectare Mintaro estate auction will be an executor's sale, concluding 79 years of family ownership by the Rae family.
It's a smaller replica of Melbourne's Government House, with Mintaro built by a Captain Robert Gardiner to a design by architect James Gall. Mintaro's design was reputedly influenced by the design of Osborne House, Queen Victoria’s summer residence on the Isle of Wight.
The front room of the the Victorian Period Italiante-style mansion has Gardiner's initials painted on the ceiling.
The walls are painted with friezes of whaling, pastoral and gold mining, which is how he made his money.
"A once undeniably grand and gracious country residence is now in need of total restoration with outstanding future use potential," its listing agent John Keating of Keatings Real Estate says.
Country House Rescue is an observational documentary series on the British television channel, Channel 4, where an expert visits a struggling country house to turn its fortunes around with advice on making more usage of the estates. 
The ABC envisages a similiar series could be based around the property which is 56 kilometres from the Melbourne GPO on the Melbourne Lancefield Road.
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Mintaro at Monegeetta back on market with $2.85 million hopes

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High up in Eaglemont - and designed in the 1960s modernist style with city views - 6 Eaglemont Crescent has been sold for the first time.
It fetched $1.82 million at its weekend auction, well above its $1.3 million plus pre-auction Collins Simms price guidance. There was a $1.57 million opening bid and it was announced as on the market at $1.76 million.
The five bedroom, three bathroom house was designed by husband-and-wife architects John and Helen Holgar as their family home in the early 1960s.
The classic linear modernist house on 664 square metres in the prestigious Mount Eagle Estate comes with ground level comes with carport and storage areas.
It comes with staircase that swirls leading up to a broad terrace that arcs out and into the garden.
Eaglemont's median house price is around $1,212,000 with recent sales including 49 Waldemar Road which was a three-bedroom house that sold at $1,411,000 and 103 The Eyrie which was a four bedroom house that fetched $1.7 million.
Pharmaceutical industry identities and philanthropists Carlo Montagner and Bozena Zembrzuski have $4 million hopes for their current Eaglemont offering at 115 The Righi with pool house amid Japanese-inspired gardens through Prue Jones, of Woodards.
In his 1998 book, Guide to Melbourne Architecture, Prof. Philip Goad praised the best known Holgar and Holgar residence, Naliandrah at 3 Glendye Court, Toorak, which was constructed in 1969.
Goad describes it as 'a striking modern house with a cement-rendered sun grille stretched across its first-floor facade.
He says the Toorak residence was one of a small number of similarly designed houses that favoured luxuriant curves, terrazzo floors and an imagery of post-war Modernism that might have been found in Tel Aviv, Mexico City or Oscar Niemeyer's Brasilia.
Goad lamented that orthodox architectural historians and heritage bodies had overlooked 1960s houses such as this one and others in East St Kilda, Caulfield and Elsternwick which are in danger of disappearing entirely from view. Goad's desire has yet to be embraced as these homes still lack heritage protection.
<img src="/images/stories/2013/08/PO_Strap_new.jpg" width="470" height="60" alt="PO_Strap_new">
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Holgar & Holgar architects sell 1960s modernist Eaglemont homebase

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Some 20 localities recorded average total incomes of $100,000 plus in 2010-11 across Australia, according to the latest ABS release of ATO data.
But the enduring global financial crisis fallout means many of these well-heeled residents aren’t actually any the wealthier from house price gains given the top end property market still hasn’t recovered.
Of the top 20 income suburbs, 12 were in Sydney, four in Melbourne and four in Perth.
There's no surprise by the strong correlation between the income of the residents and their propensity to pay big money for their city abodes.
The only interesting new trend - or perhaps its retracing steps back to the pioneer days - is the emergence of mining wealth.  Toorak in Melbourne recorded the highest average total income at $150,548 of all the statistical area regions.
Mosman was second at $142,773, then Double Bay-Bellevue Hill at $141,544.
The Hunters Hill-Woolwich peninsula ($138,007) and Cottesloe in western Perth ($125,411) in fifth place. Outside of the capital city regions, incomes were highest in the mining centres of Karratha ($86,828) and Port Hedland ($86,079) in Western Australia. The coal mining centre of Moranbah ($83,257) in north-east Queensland was also prominent. Singleton ranks highly in NSW regions, along with Roxby Downs in South Australia with incomes rising faster than the wealthiest city locations.
Between 2005-6 and 2010-11, average incomes in Australia grew 4.9% with Western Australia recording the highest levels of income growth.
Sydney's top five income suburbs were....
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
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2005/2006
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2010/11
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Income annual growth %
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<tr>
<td width="123" valign="top">
Mosman
</td>
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$114 971
</td>
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$142 773
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4.4
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Double Bay-Bellevue Hill
</td>
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$114 507
</td>
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$141 544
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<td width="123" valign="top">
4.3
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Hunters Hill-Woolwich
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$110 865
</td>
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$138 007
</td>
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4.5
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Dover Heights
</td>
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$100 951
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$125 350
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4.4
</td>
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<td width="123" valign="top">
Rose Bay -Vaucluse-Watsons Bay
</td>
<td width="123" valign="top">
$100 871
</td>
<td width="123" valign="top">
$125 091
</td>
<td width="123" valign="top">
4.4
</td>
</tr>
</tbody></table>
The figure is an aggregate of wages and salaries, investment incomes, businesses, and superannuation.
The data also indicated provided insights into other additional income, including investment income - with Mosman recording an average income of $42,998 from this source in 2010-11. The Double Bay-Bellevue Hill incomes were potentially supplemented by $66,258 from investment income. Hunters Hill incomes were supplemented by $54,678 investment income.
So a quick look at the Sydney median house prices are:
<a href="/news">Mosman</a> $2.17 million - down 5.5% over past five years with an average 114 days on market with 9% average discount required to secure a sale.
<a href="/news">Double Bay </a>$2.7 million - up 14.6% over past five years with an average 142 days on market with 12% average discount required to secure a sale.
<a href="/news">Bellevue Hill </a>$2.88 million - down 14% over past five years with an average 148 days on market with 13% average discount required to secure a sale.
<a href="/news">Hunters Hill </a>$1.587 million - up 9% over past five years with an average 94 days on market with 10% average discount required to secure a sale.
<a href="/news">Dover Heights </a>$2.4 million - no change over past five years with an average 116 days on market with 11% average discount required to secure a sale.
The Melbourne median house prices are: 
<a href="/news">Toorak</a> ($150,548) $2.65 million - no change over past five years with an average 160 days on market with 10% average discount required to secure a sale. Toorak was also prominent in investment income terms - recording an average income of $89,841 from this source in 2010-11.
<a href="/news">Brighton</a> on the coast of Port Phillip Bay had the second highest average total income in 2010-11 ($111,966). Its $1.69 million house median up 1.6% over past five years with an average 99 days on market with 10% average discount required to secure a sale.
Then followed Albert Park, ($104,168) East Melbourne ($103,268) and Malvern-Glen Iris ($94,697). 
Perth's top five were
<a href="/news">Cottesloe</a> ($125,411) - $1.725 million down 15% over the past five years 131 days on market with an average 10% discount required to secure a sale. 
then Nedlands-Dalkeith-Crawley, ($116,269); Mosman Park-Peppermint Grove, ($116,253); City Beach ($115,829) and Claremont ($99,777). 
<a href="/news">Port Hedland </a>($86,079) - $1.2 million median house price up 50% over past five years with an average 101 days on market with 11% average discount required to secure a sale.
Recently RP Data research indicated the top end was at the beginning of renewed price growth after premium housing markets recorded a larger correction in values following the GFC. Cheaper price segments have recorded a higher recovery rate to-date than the prestige home market.
<img alt="kusher-oct-18-one" src="/images/stories/2013/10/18/kusher-oct-18-one.gif" width="470" height="238">
The latest quarterly figures suggest the tide may be turning for Australia’s more expensive housing markets.
The premium market, comprising of the most expensive 25% of capital city suburbs, recorded quarterly value growth of 4.1% compared to 3.6% across the middle 50% of suburbs and 2.8% growth across the most affordable suburbs. It's especially noticeable in Melbourne houses, and also Sydney, but not yet in Brisbane and Adelaide.
<img alt="kusher-oct-18-three" src="/images/stories/2013/10/18/kusher-oct-18-three.gif" width="470" height="199">
The annual growth in house values is noticeably stronger than unit values. Over the most recent three months, premium house values are 4.2% higher and unit values are 2.9% higher. 
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Income correlates to prestige house price, with mining towns the major ABS blow-ins

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Mona, the historic Braidwood guest house property has been sold some five years after its initial 2008 listing.
It was initially listed for sale by guest house operators Greg and Kerry Schneider who sought more than $8 million for the 45-hectare property. This was dropped to $5.25 million in 2011. Earlier this year it was listed at $3 million plus.
It sold just before its recent auction through McKillop Property agents Cameron McKillop and Jeremy Crawford inconjunction with David Nolan at Webster Nolan.
It is understood it will continue running as a guest house venue.
Its historic buildings are within gardens - inspired by English landscaper Lancelot Capability Brown - that won the Belle Magazine garden design of the year in 2003 after the planting of more than 4000 trees and the construction of a five-arch stone Palladian bridge, which spans Mona's lake.
The historic gardens date back to the 1820s when it was settled by Dr Thomas Braidwood Wilson, whose house burnt down.
The Maddrells bought the property in 1845 and gave it its name, Gaelic for the Isle of Man.
The property last traded in 1994 when sold by Jock Mackay, who had run cattle following his 1946 purchase.
Braidwood's previous big sale was when Harris Scarfe department store chief executive Robert Atkins sold his property, Charleston, for $2,871,000.
The 45-hectare Mona property comes with an 1890s homestead with Ray Siede decor.
<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/2013/10/31/braidwood_oct_31_one.jpg" alt="braidwood_oct_31_one" width="470" height="313">
It included a 1903 coach house used by Cobb &amp; Co (pictured above). Its stables, which date from the 1860s, have been converted into a marble-tiled 7,000-litre plunge pool for guests.
<a href="https://www.propertyobserver.com.au/residential/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>
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Luxury guesthouse Mona, Braidwood sells after five years on and off the market

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The Point House, McMahons Point apartment of the bankrupt car dealer Rick Damelian has been sold pre-auction for about $7.2 million by its mortgagee-in-possession. 
McGrath agent Peter Starr had the combined six bedroom apartment listed with hopes of more than $5.5 million.
The former Parramatta Road-based car dealer's business went into receivership two years ago.
<a target="_blank" href="https://www.propertyobserver.com.au/retail/rick-damelian-bankrupted-as-his-parramatta-road-caryards-sell-through-receivers-ferrier-hodgson/2012111557900">His receivers Ferrier Hodgson </a>secured permission to sell the 510 square metre two level East Crescent Street apartment from the Supreme Court's Justice Michael Slattery.
Rick Damelian lived in one with his wife and his mother lived next door. NAB holds a $6 million mortgage secured by the townhouses.
One cost $540,000 in 1986 and $950,000 in 1988. Damelian thought of selling himself in 2000 with $6 million-plus hopes.
<img height="60" width="470" src="/images/stories/2013/08/PO_Strap_new.jpg" alt="PO_Strap_new">
Sources says 10 contracts were issued during the recent marketing.
 
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Car dealer Rick Damelian's mortgagee secures $7.2 million in McMahons Point

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.

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From Candela, residents can access cafés, grocers, wine bars, restaurants and essential services on foot, while Ivanhoe Station and Darebin Station provide direct connectivity across Mel​bour​ne. The development is also surrounded by some of the suburb's best-known lifestyle destinations, including Pinkie, Laurent, Enni, Docasa and Woodfire Pizza e Cucina, alongside Ivanhoe Plaza, Woolworths, pharmacies and specialty retailers.

Green space is another defining feature of the suburb. Darebin Parklands, Ivanhoe Park, Nellie Ibbot Park and the Yarra River trail network provide extensive opportunities for recreation, while Ivanhoe Golf Course and Ivanhoe Tennis Club continue to underpin the area's long-established lifestyle appeal.

The suburb's education offering further strengthens demand. Ivanhoe Grammar School, Ivanhoe Girls' Grammar School, Mary Immaculate Primary School and Ivanhoe Primary School have helped establish the area as one of Melbou​​rne's most sought-after schooling precincts, attracting families and downsizers alike who want to remain connected to the area.

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While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.

"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.

"We're just thrilled with our choice."

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Developed by <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>, Candela Ivanhoe has been designed to complement its village setting, with an emphasis on generous floorplans, natural light and practical everyday living.

Residents will have access to a range of shared amenities, including a communal rooftop garden and dedicated residential lounge, complemented by a ground-floor café and lifestyle wellbeing centre, helping foster the sense of community already emerging among future owners.

That approach has resonated strongly with the market. More than 90 per cent of purchasers at Candela Ivanhoe are owner-occupiers, with buyers ranging from downsizers and second-home buyers to young families and first home buyers, creating a genuinely multi-generational community of grandparents, parents and children. It reflects a broader shift across Melbo​​urne's apartment market, where buyers are increasingly prioritising neighbourhood quality, lifestyle amenity and long-term liveability.

Currently under construction by Ironside, Candela Ivanhoe comprises 58 apartments. Candela Ivanhoe is scheduled for completion in the coming months, and residents can move in from September. One to four bedroom residences, prices from $649,000 and limited opportunities remaining.

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Jonathan Chancellor

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