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There is no doubting the auction momentum.
What started out last spring as good clearance rates has well and truly turned into market strength - though not in every Sydney pocket and price bracket.
There are however increasing signs of auction price silliness.
Take the weekend's $840,000 unrenovated, almost unlivable Surry Hills terrace sale.
It was simply over the top for the 51 square metre Campbell Street offering with 67 square metre of floor area.
One just has to look two doors away - and 11 months ago - to see where the pricing ought have been with <a target="_blank" href="https://www.oxfordrealestate.com.au/selling/NSW/Sydney-City/Surry-Hills/House/1P1834">a $765,000 renovated terrace sale</a> (pictured below), on 54 square metres with 88 square metres in floor area, which also sold in 2010 at $688,000 after its renovations.
{yoogallery src=[images/stories/2013/09/24/sur]}
Things weren't helped with the Ray White agency telling buyers the expectations were around $550,000.
Offered to the market for the first time in almost 50 years, the two level terrace holds mixed commercial/residential use zoning.
It was a blank canvas with inspiring potential, ideal for a home or boutique business close to Chinatown, according to its marketing agents Shaun Burdo and Jack McGhee.
At 88 Campbell Street (pictured below centre with open door) - with eight being an auspicious number of fortune in Chinese culture - no surprises there was the keenest of Chinese bidding for the property.
<img height="314" width="470" src="/images/stories/2013/09/24/1.jpg" alt="1">
But don't expect every other Surry Hills offering to all follow suit price wise. 
And as for those high clearance rates? Barring any sizable shift in the supply and demand, the only force to rein in auction success rates this spring will be the emergence of overly expectant vendors.
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jchancellor-FAypfDUnLy

Surry Hills auction price silliness won't necessarily be contagious

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Time stood still inside the empty 52 square metre ground floor unit one at Byron Hall, Potts Point.
Uninhabited for two decades, it was only recently that local estate agent Nuri Shik of Laing &amp; Simmons Potts Point opened up the time capsule.
The apartment at 97-99 Macleay Street went on the market with a $430,000 plus asking price to sell <a target="_blank" href="https://www.propertyobserver.com.au/https://www.lspp.com.au/residential-for-sale/0000124967">within the fortnight sold for $436,000</a>.
Nuri Shik explained the property was inherited by the current vendor, who because of the restrictive rental rules in the company title building, chose to leave it empty.
Byron Hall, like many pre-strata company title blocks in inner eastern Sydney, has official rules that endeavour to make the block predominantly owner occupied. Byron Hall has been known to permit, on application, limited rental approval if the owner has transferred overseas. 
Each residential company title block has their own version as to the extent of allowing rentals - including approval for extended family members and rental permission after two year ownership. There are blocks too were investors can buy into including Kanimbla Hall at 19a Tusculum Street, Potts Point and Wintergarden at 57 Darlinghurst Road, Kings Cross.
Byron Hall was designed by architect Claude Hamilton in 1929.
Unit one is only one of two one-bedroom apartments in Byron Hall.
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Uninhabited Byron Hall, Potts Point company title apartment sells after 20 years

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The Toorak property, 16 St Georges Road, one of Melbourne’s most significant homes, has been sold through Kay &amp; Burton.
It sits on just about an acre, the home of LU Simon building company director Peter Devitt and his wife Jo and their family for the past 16 years.
It was marketed internationally via a <a href="https://www.16stgeorges.com/" target="_blank">short film</a> produced by Golden Eye Media. 
The Kay &amp; Burton agent Ross Savas was talking around $20 million for the property on its listing in late 2012, and while the sale price has not been disclosed, the agency suggests the  sale was "circa $20 million."
It has been billed as "one of city's biggest property deals." 
The Devitt's are off to a St Kilda Road apartment, the penthouse at The Melburnian which the construction executive bought as a birthday present for his wife for around $15 million in 2009.
The 465-square-metre apartment, equating to about $32,000 per square metre, was sold by Origin Healthcare founder Bob Biddle through Ross Savas.
The St Georges Road property is a 4257 square metre block with art nouveau villa. There is a the four-car garage, tennis court and swimming pool with change rooms.
Click to enlarge
<a href="/images/stories/2013/09/23/toorak-sept-23-floorplan-big.jpg" title="Click to enlarge" rel="shadowbox"><img src="/images/stories/2013/09/23/toorak-sept-23-floorplan-small.jpg"></a>
Property Observer gleans 16 St Georges Road has been bought by an off shore Asian buyer who first inspected the property several months ago.
The mainland Chinese buyer flew into Melbourne last week on their private jet to put the signature on the contract.
It last traded at $4.4 million in 1997.
Toorak's highest sale this year has been 1 Towers Road, which was bought by Nigel Austin, the founder of the Cotton On chain, having been sold in June by the former JPMorgan Australia chairman Brian Watson.
There has been no official confirmation of the price of the Georgian-style mansion on Towers Road, Toorak but it is understood to have fallen short of the Melbourne record of $24 million.
Property Observer gleans it sold for around $21 million, a very healthy result. 
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Offshore buyer secures 16 St Georges Road, Toorak from Peter Devitt in circa $20 million sale

Sea Dragon, the&nbsp;classic Professor Leslie Wilkinson designed Double Bay house, has been listed for sale with $5.5 million plus hopes.

It had a&nbsp;<a href="https://luigirosselli.com/Wiston-Gardens/" target="_blank">Luigi Rosselli redesign </a>&nbsp;in 2009 to maximise on its&nbsp;picturesque cul de sac near harbourside&nbsp;location. And also a street number change from 4 to 5a given the Chinese word for four (?, pinyin: s&igrave;, jyutping: sei3), sounds quite similar to the word for death (?, pinyin: s?, jyutping: sei2), in many varieties of Chinese.

Sae Dragon was&nbsp;designed by&nbsp;the eminent architect Professor Wilkinson in 1936 with Spanish Mission and Georgian influences for Dr H Sweetapple at a cost of 2792 pounds.

It comes with&nbsp;four bedrooms, plus&nbsp;sandstone terraces with&nbsp;heated mosaic infinity pool along with pool house studio.

Its been listed for October 14 auction through Julian Hasemer of at 1st City-Hasemer+Caldwell.Eyles, inconjunction with Sally Hampshire at Laing &amp; Simmons Double Bay, by Francis Maxwell QC.

Its awards have included the Australian Institute of Architects National Award for Heritage 2009; the Woollahra Conservation Award 2008 and&nbsp;the National Trust Energy Australia Commendation 2009.

The&nbsp;Luigi Rosselli project architect was&nbsp;Candace Christensen with the heritage consultants: Tanner Architects and&nbsp;John Oultram Heritage &amp; Design.

Interiors were undertaken by&nbsp;Louise Bell and&nbsp;Shane Grogan with the landscaping by&nbsp;Andrew Pfeiffer.

The nearby Wilkinson-designed house at 7 Wiston Gardens won the 1934 Sulman Award after its completion for Dr Parkinson at a 2586 pound cost.&nbsp;

Sea Dragon, the 1930s Leslie Wilkinson Double Bay house listed with Luigi Rosselli update

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Following this week’s $US41.5 million auction sale of the former Versace mansion in Miami, our property contrarians, Jonathan Chancellor and Margie Blok argue whether to buy the closest thing locally- an apartment in Palazzo Versace on the Gold Coast.
<img src="/images/stories/2013/09/06/HE-SAID-WORDS.jpg" width="132" height="30" alt="HE-SAID-WORDS"><img src="/images/stories/2013/09/06/NO.jpg" width="55" height="30" alt="NO"><img src="/images/stories/2013/09/06/jc-silhouette-5.jpg" width="100" height="150" alt="jc-silhouette-5" style="float: right;">
Forget the ubiquitous Medusa. If you hanker for Versace décor, just buy a couple of cushions, not a theme park condo.
<img src="/images/stories/2013/09/20/SHE-SAID-PERHAPS-22.jpg" width="470" height="30" alt="SHE-SAID-PERHAPS-22">
<img src="/images/stories/2013/09/06/mb-silhouette-4.jpg" width="100" height="150" alt="mb-silhouette-4" style="float: left;">There's nothing comparable to your own Versace-designed pad. Especially the late Gianni Versace's extravagantly grandiose Miami mansion, Casa Casuarina, the 10-bedroom, 11-bathroom Mediterranean-style mansion, albeit on the very busy tourist strip, at 1116 Ocean Drive, South Beach. 
At this week’s court-ordered bankruptcy auction of Casa Casuarina, no less than the real-estate kingpin and TV reality-show celebrity, Donald Trump, was the underbidder for the property .
It sold to a group that includes New York’s Nakash and Gindi families who own the Hotel Victor, just next door.
International Versace devotees still have the Gold Coast option, and sooner or later Dubai, and then next Macau for cheaper Italian fashion house Versace resort property prospects.
The Gold Coast option came first, back in 2000, and the developer of the much-delayed Dubai resort Palazzo Versace has just this week confirmed the opening date has been pushed back another 12 months.
The developer Enshaa Services Group said it was now not due to open until the second half of 2014, having been due to open in 2009 on its Dubai Creek location.  They took control in a swap deal with the former Australian joint venture partner, Sunland Group, which took 100% ownership of the Palazzo Versace Gold Coast, with Sunland then subsequently selling their Gold Coast. 
No doubt true to the brand's signature ornate style, the 270-room Macau hotel is set to open by the end of 2017. It will operate on a similiar concept licencing agreement with the Versace Group have no interest it its day to day hotel revenues.
There are 72 Palazzo Versace condominium on Queensland's Gold Coast. And when not in use by the PV owners they often get rented out through the adjoining Palazzo Versace hotel. Some do it to recoup their body corporate fees.
Given there are only six permanent residents, this option seems to be the norm.
But beware you’ll be obliged to retain all the Versace décor -  described as the "stunning, irreplaceable, Versace furniture package”, as its a pre-requisite for letting through the hotel.
But why in the world would you want to rid the condo of the fixtures? Synonymous with Versace style - though certainly not everyone’s cup of tea - is the sumptuous and extravagant décor of these condominium interiors finished with gold leaf ceilings, gleaming marble and parquetry floors, faux marble columns, panelled walls, heavy silk drapes, padded bedspreads and de rigueur Versace silk and velvet cushions. 
On the Broadwater at Main Beach, Palazzo Versace has the condominiums with the adjacent hotel having 200 rooms and suites.
Over the years, the PV condominium owners have included fashion designer Lisa Ho (between 2000 and 2005); the former Daydream Island owner Vaughan Bullivant and his wife Carmel; the seniors' tennis champion, Adrian Alle, and the BRW Rich Lister Greg Poche - who incidently is still trying to flog the Channel 10 Bachelor mini series house at Bayview on Sydney's northern beaches. 
Didn't Brynne Edelsten snap one up last year?
And my spies tell me mining tycoon Clive Palmer picked up a couple of Versace condos too - which will no doubt pop up in any parliamentary pecuniary interest declaration he might make if he's elected to the Australia parliament.
Ofcourse international stars including the Rolling Stones and Beyonce have stayed in the luxury apartments since the hotel opened in 2000, the first of its fashion branded alliegance in the world. Last year the hotel sold for $68.5 million to a Chinese consortium following approval from the Foreign Investment Review Board.
They obviously chose to overlook educator and architect critic Norman Day's 2002 review which described the place as "a rather plain, little, prefabricated structure overburdened with the drippings of Donatella and serviced by young people wearing black and gold."
"The aim of the place is admirable: provide a good quality hotel and decorate it (well, smother it) with Versace colours, crockery, fabrics, cutlery, badges and "character".
"Most people will be pleased with the result," Norman Day was gracious enough to concede.
There are currently around six Palazzo Versace condominiums up for sale from a $1.1 million asking price
<a href="https://www.propertyobserver.com.au/queensland/gold-leaf-ceiling-comes-with-palazzo-versace-gold-coast-condo-with-%2415-million-hopes/2013051461183" target="_blank">There's one that came onto the market with $1.5 million plus hopes in May</a> (pictured below), a redecorated three bedroom, three bathroom pad which is is now listed at $1.35 million. <a target="_blank" href="https://www.realestate.com.au/property-apartment-qld-main+beach-114478179">Artisans have been at work</a>, says the listing agent. Its marina is 15 metres. Apparently it's not in the hotel rental scheme as it doesn't have the official Versace furniture package.
{yoogallery src=[images/stories/2013/05/may10palazzo]}
There is also a two-bedroom two-bathroom north-facing rooftop residence with a 21 metre marina berth, two car spaces and a storeroom (no doubt for the golf clubs). Offers are being sought above $1.1 million through Russell Stuart of PRDnationwide Surfers Paradise, whose realestate.com.au website listing notes: “The owners are serious committed sellers and have already purchased another property! Make no mistake, they are absolutely committed to selling! They have loved their time at 'Versace' but they are now moving to a colder climate - so this has to go! There are only a handful of north facing condos at Palazzo Versace, and even fewer with a 21 metre marina berth, so this is an exceptional opportunity!”
The dearest offering is an ambitiously priced $5.29 million penthouse. At least the leasehold title reduces the Queensland purchasing stamp duty. And no land tax too.
I recall writing after my first visit in 2001 that the 72 condominiums fetched record Gold Coast prices having sold off the plan and during construction. About 70% of the buyers were Australians who paid prices ranging from $900,000 to $4.9 million for one of the penthouses. The buyer composition has expanded a tad internationally, but seemingly the prices haven't strayed far from original purchase prices.
Back then the furniture and decor packages were costed between $200,000 and $400,000 on top of  the condominium purchase price.
Certainly buyers will find there's better value elsewhere on the Gold Coast, but each to their own. Keep an eye out for Versace-loving Kiwi vendors keen to take their money back home, or Sydneysiders from the Shire who want to reinvest their proceeds into a self managed super fund.
Oh one last thing - be sure to have your solicitor brief you on the unresolved issue of water usage costs.  The condominium owners claim they have been subsiding the hotel's water usage. And that's more than a trickle given its 200 spa baths, commercial kitchen, laundries and sumptuous lagoon swimming pool. 
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The Gold Coast's Palazzo Versace condos? He Said/She Said

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A penthouse in Eureka Tower - a 660 square metre full-floor apartment on level 84 - has been relisted for sale.
The four-bedroom, five-bathroom penthouse boasts views of the city and bay from almost 300 metres above Riverside Quay Southbank.
It has been listed by some of the Eureka developers – Tab and Eva Fried and architect Nonda Katsalidis - who have kept the floor since the tower was completed in late 2006.
Its fitout has been undertaken by Nonda Katsalidis of Fender Katsalidis Architects and interior designer Margie Bromilow of MBA Design Group.
It has been listed at $18 million, a bit of a hike on the $13 million plus publicly indicated price guidance <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/international/eureka-tower-penthouse-hoped-to-fetch-sky-high-price/2011083051361" target="_blank">when unsuccessfully listed in late 2011</a>.
<a href="https://www.realestate.com.au/property-apartment-vic-southbank-114880895" target="_blank">Greg Herman and Bonnie Wang at Sotheby's </a>have the listing.
It has a marble elevator lobby, study, bar, formal living and dining areas, butler kitchen and main kitchen, home theatre and six car parks.
"One button does everything," Greg Herman told Property Observer.
The apartment is marketed as never lived in.
"It's suitable for overseas purchasers," the marketing says.
It is, when Title Tattle last counted, in the 50th tallest building in the world.
It is the second-tallest building in Australia but the tallest building in Melbourne.
The summit levels (floors 82 to 87) contain only one apartment per floor, and each apartment had an original price tag of around $7 million just for the empty space; purchasers were required to fit out the apartment at additional cost.
It was 2006 when Eureka Tower recorded its first penthouse sale which worked out at more than $10,000 a square metre some five years after construction started on the Eureka project. At the time it was reported about 80% of the 566 apartments had been sold.
The tower has an observation deck on level 88, a restaurant on level 89, a communications room and balcony on level 90 and water tanks on level 90 and 91.
Eureka Tower was completed in 2006 as a joint venture consisting of Daniel Grollo (Grocon), investor Tab Fried and Katsalidis, whose firm, Fender Katsalidis Architects, designed the building. In 2000 the Melbourne businessman Paul Sailah paid $1.2 million for the first apartment sold at Eureka Tower.
Sailah, who had a gold mine in Jamaica, bought a three-bedroom apartment on the 58th floor.
Building tycoon Daniel Grollo and wife Kat tried to sell their Eureka Tower whole floor 80th level penthouse with an $8.2 million asking price in late 2011, but it likewise didn't sell. The Grollo's paid $6.25 million for their shell in 2007.
Developer Elias Jreissati is the last known whole floor buyer. Jreissati, the group chairman of the Bensons Property Group, has been fitting out the shell of the entire 82nd floor of Eureka Tower, which he bought in 2010 for $6.67 million.
He has been trying to sell <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/victoria/port-melbourne-penthouse-ambitiously-seeks-australian-record-price/2013021059254" target="_blank">his Port Melbourne penthouse</a> - 1,040 square metres over three levels - 18, 19 and 20 - atop the HMAS Lonsdale building since February. It was also designed by Nonda Katsalidis.
There's no shortage of Melbourne penthouse wannabes, but Title Tattle senses a slowdown - because the empty nesters are finding it difficult to secure their own trophy home sales.
Sky-high asking prices come with the turf, but concerns over ongoing strata fees aren't the issue that curtailed interest in some recent Sydney penthouse offerings.
The top floor Eureka penthouse strata fees are around $50,000 per annum.
The record price for a Melbourne apartment was set by the $19.36 million sale of an East Melbourne penthouse on the 11th floor of the 150 Clarendon Street development in 2008.
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Nonda Katsalidis has another go at selling Eureka Tower penthouse

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Former Lend Lease chief executive Richard Clarke and his wife Jan have secured around $4.2 million for their McMahons Point apartment which was sold before its weekend auction.
Set in a 1984 Philip Cox-designed block, <a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-mcmahons-point-nsw-2060/191829">it was listed with $4 million plus hopes</a>.
The Clarke's bought the 209 square metre East Crescent Street apartment in 1994 for $1.5 million, so the near harbourside price growth reflects 5.6% annual growth.
It's in the Anchorage marina complex of 12 apartments with views over Lavender Bay to the Harbour Bridge. Six of the partments sold off the plan in 1983 from around $355,000 and by early 1984 the other six were listed at prices between $375,000 and $440,000. There were still two for sale by 1986 by which the prices had edged up to $500,000 plus.
All the apartment had three bedrooms, two bathrooms and a double car space. The complex has a solar-heated swimming pool, a wharf, marina and boatshed.
It sold through David Howe of McGrath Northbridge.
The complex's last sale was earlier this year when a 199 square metre apartment sold <a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-mcmahons-point-nsw-2060/173949">through Nigel Mukhi at McGrath Neutral Bay at just under $3.9 million</a>.
<img height="384" width="200" src="/images/stories/2013/09/23/sept_23_ear.jpg" alt="sept_23_ear" style="float: right;"><a target="_blank" href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/apartment-mcmahons-point-nsw-2060/96475">The previous highest sale was $4.1 million set in 2010</a>, also through Howe. It first sold at $410,000 in 1984, and with four sales inbetween, the latest price reflected just shy of 10% annual growth.
There was another sale this year when $3.9 million was achieved by Graeme Cocks and wife, for their top floor apartment. It had been bought in 2001 for $2,275,000 when sold by the advertising executive Lionel Hunt and wife Judy. The top-floor 190 square metre apartment bought for $485,000 in 1985 had been renovated during the Hunt's ownership by the interior designer John Normyle. 
Despite the rush in recent sales, five of the 12 are still in original ownership.
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Prestige prices rise at the Philip Cox-designed Anchorage, McMahons Point

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That's not a super Saturday..... this is a super Saturday.
Standby for 1500 scheduled Melbourne auctions on the October 25 weekend.
That surpasses the current record Saturday offering of about 1350 in 2008.
The next few weekends are leading up to the crescendo with the REIV calculating 810 for this weekend; then 1010 for the October 12 weekend; and 1120 for the October 18 weekend.
The REIV research assistant Lawrence Lu sent me the list of 16 weekends that have had above 1000 auctions over the past five years and the clearance rate. The figures excluded auctions that were postponed, withdrawn or unreported.
1) 15 March 2008                   1351                       67%
2) 12 December 2010           1235                       57%
3) 24 March 2013                   1176                       67%
4) 23 February 2008            1146                          74%
5) 24 October 2010               1127                       67%
6) 28 October 2012               1122                        64%
7) 19 April 2008                       1105                       64%
8) 28 November 2010          1101                       59%
9) 28 March 2010                   1073                       85%
10) 5 December 2010             1071                       60%
11) 12 December 2009           1065                       81%
12) 20 June 2010                      1050                       68%
13) 28 November 2009          1050                       78%
14) 1 April 2012                         1016                       58%
15) 1 March 2008                     1014                       71%
16) 21 November 2010          1013                       57%
 
Ofcourse although auctions grab all the headlines, private sales are by far the most popular way to buy and sell homes in Victoria.
Around three-quarters of all property in Melbourne are sold by private sale.
Click to enlarge
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The director of Consumer Affairs Victoria Claire Noone says there were important facts buyers and sellers should know about private sales.
“The contract of sale can be conditional,” Dr Noone said.
“This means that, if the seller agrees, the buyer can make the sale subject to obtaining a loan, a satisfactory building inspection report, or other conditions.
“If you’re making an offer to buy by private sale, we recommend you write into the contract a date by which your offer will lapse, so you will know whether the seller has accepted your offer by a time that suits you.”
For private residential sales and those of rural properties of less than 20 hectares, a buyer has three business days to change their mind – although there is a small financial cost for doing so and it is not possible in some circumstances such as at auctions.
“Buyers and sellers should not rush or be pressured into making hasty decisions about property contracts,” Dr Noone said.
“You will feel more confident about the outcome if you make an informed decision – carefully read the contract and ensure you understand the terms and conditions of sale.”
Consumer Affairs Victoria has <a target="_blank" href="https://www.consumer.vic.gov.au/realestate">new videos </a>to help home buyers and sellers prepare for an anticipated stronger property market this season.
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Melbourne readies for record 1500 auctions on late October super Saturday 

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Apparently Footscray is just one good latte away from joining the macchiato-driven suburbs of Richmond, Fitzroy, Hawthorn, South Yarra and Brunswick.
These coffee-loving suburbs rank highly as sought-after areas for property buyers, according to research analysing 1300 cafes in the greater Melbourne area.
The report by the Secret Agent, Paul Osborne looked at the gentrification of Gertrude Street, Fitzroy, where a one-bedroom apartment sold for $175,000 in 1996.
It recently sold for $669,500 in 2012 after the area was transformed into one of Melbourne's trendiest locations.
Footscray could be the next suburb to be gentrified, the report said, due to its proximity to the CBD and affordability.
"Its neighbouring western suburbs of Seddon and Yarraville have already undergone gentrification and it seems Footscray is going to be next," the report said.
Of course there's nothing new about these urban villages with cafe lattes on offer within walking distance. Streetlife as almost as important as what's behind the Federation facades. All enhanced by the availability of time and technology.
But of more immediate importance, and without referencing the cafe society aspect, the Reserve Bank of Australia assistant governor Malcolm Edey has acknowledged the property market was growing at a higher than average rate, but dismissed suggestions it's a bubble.
Dr Edey said the pace of house price growth was not a concern for the time being.
“Demand for housing is strengthening at the moment. There is no doubt about that,” he told a Financial Services Institute of Australasia conference.
“We are in a one of the higher-than-average periods at the moment but the continued rushing to reach for the bubble terminology . . . every time the rate of increase in house prices is higher than average, which by definition is 50% of the time, you just have to be unrealistically alarmist on making that call every time it happens.”
The growing debate about the growth of house prices in Sydney and other capital cities stems from suggestions the RBA’s record-low interest rates will trigger a property price bubble.
There have been calls for tougher lending restriction emulating the Reserve Bank of New Zealand to prevent banks from fuelling unsustainable house price increases.
“But it is important to keep things in perspective," Dr Edey said.
"Looking back over the last 10 years, house prices have been rising at a rate similar to or on average less than the rate of household incomes.
“The ratio has been roughly flat or tending actually to fall. Within that trend, there will be cycles and periods where that ratio rises or falls.
“There are periods when the rate of increase in house prices has been higher than average and periods when it has been lower than average,” Dr Edey said.
Capital city house prices rose 5.3% in the year to August, figures from RP Data-Rismark show.
Sydney’s housing market has been back leading the pack with gains of 7%, but after a deacde of tracking below the national capital city median growth.
Dr Edey says the country was currently experiencing a low rate environment and that one of the effects was the stimulation in housing demand.
“We are seeing that influence in the housing sector and that’s not surprising because it’s an interest rate sensitive sector,” he says.
Not a word about blowing the froth off the top of a cappuccino from him though.
I am sure there's a thesis there for an academic that wishes to show the partial cause and effect of our mutual passions for coffee, conversation, and property. It might start at "21" at Double Bay which was probably the first European-style coffee shop established in Sydney back in 1958.
And of Footscray's chances? Well Victoria University's desire to transform it into  a "university town" over the next decade is likely to have more impact than a highly recommended place for latte's in the Age epicure. VU have announced plans to lease space in the centre of Footscray by the start of next year with a book shop, office space and ofcourse a university coffee shop. It ultimately wants to extend its 20,000 student Footscray campus over Ballarat Road closer to the centre of the town. Both the university and other organisations are envisaged to then commit to larger projects including a business incubator and more student accommodation.
And in the meantime hopefully the town is rid of its heroin drug trafficking reputation.
 
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The caffeine hit that's underpinning the pricier gentrification of our suburbs and towns

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Moebius House, the Sydney eastern suburbs coastal home, has been relisted for sale by its owner-architect, Tony Owen and partner Kerri Sackville.
With views of the CBD, Opera House, Bridge and Sydney Harbour, the curvaceous Dover Heights passive solar design has been recognised as setting a benchmark in environmental innovation.
Its last listing agents were seeking offers above $4.5 million for the four bedroom, three level house.
But now the house comes with $3.75 million plus hopes.
The Dover Heights home's name derives from the geometrical term, Moebius Strip, a surface with only one side and only one boundary component.
Completed in 2007, the 525 square metre block at 129 Military Road had cost $1.97 million in 2007.
Its been listed for October 22 auction through Daniel Baran at BHR Estate Agents.
It was created by leading architect Tony Owen who describes his home as being devised with ‘elastic’ or ‘liquid’ architecture by virtue of its curved façade and such many and varied interior features as a living room floor which curves up into the wall instead of meeting at right angles.
Its other avant garde features include the blue light built into the top of the open-plan living area’s wall to give the room a calming hue in the evenings, and a futuristic kitchen bench which conceals a wine rack in a diagonally shaped extension and one of a kind bespoke curved staircase.
The north-east-facing home took 18 months to build, and flows over three levels with five bedrooms and four bathrooms to complement the large living areas. The lounge area has a mushroom-shaped Fireorb fireplace from Chicago, hanging as a stalactite would from the ceiling.
<img src="/images/stories/2013/07/yieldsbanner.jpg" alt="yieldsbanner" width="470" height="127">
"The home’s entire construction is an engineering feat in itself, with the method used more akin to that of building a car than a house," the marketing says.
Daniel Baran’s recent Dover Heights sales included the sale of TV personality Larry Emdur’s coastline home and the 2010 sale of the equally futuristic Butterfly House also on Military Road.
<img src="/images/stories/2013/08/PO_Strap_new.jpg" alt="PO_Strap_new" width="470" height="60">
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Moebius House at Dover Heights has price hopes pared back

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

Joel Robinson

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

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

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

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

Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

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

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

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

Jonathan Chancellor

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