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Banks are holding back the property market, according to the Melbourne buyers' agent Mal James.
“I suspect that one of the reasons buyers are increasingly reluctant to stretch themselves at some of the big-ticket auctions is that banks have become increasingly tight-fisted in their lending.
“Their letters of offer are not as forthcoming, and there are clear use-by dates with no guarantees of renewing older bank offers," James says.
James suggests the nervousness is filtering through to valuers, who are responding with lower valuations on bricks-and-mortar securities.
“And, in something of a vicious circle, their new lower valuations are ultimately re-feeding the bankers' nervousness.
“The bankers’ concerns are then being passed on to their clients, the buyers."
James Buyer Advocates analysis of the miserably wet day of Melbourne auctions concluded with a 50% clearance rate among the 32 $1 million-plus auctions the group attended in the inner east and bayside.
"The average number of bidders per auction was 1.5, and half the auctions were one bidder (lone rangers) or (no bidders) ducks," James says.
While noting there is still strong demand for quality stock, James notes there are some major pass-ins on big-name properties including Barwon at 38 Cromwell Road, South Yarra, which received no bids other than a vendor bid of $5 million.
"There were also no bids for the Edwardian at 1097 Malvern Road, Toorak - which passed in at $2.8 million, or the contemporary family home at 16 Banool Ave, which passed in at $2,550,000."
James notes it is not that the banks were necessarily refusing loans, but they arelowering the LVRs (loan-to-value ratios).
“And this in turn is being reflected in more conservative bidding at auctions and private sales,” he says.
“This in turn means there is less money overall in the market – and so you can feel the tightening collars as the money tap is slowly being turned off.”
Melbourne's overall weekend cleareance rate was 58%, which mirrored Sydney's 58% success rate. 
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jchancellor-FAypfDUnLy

Banks holding back the big ticket property market: Mal James

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Bulk-buying mecca Costco will be opening its fourth store in Brisbane at Stockland's North Lakes Business Park.
Preliminary planning approval was give earlier this month for the 14,000-square-metre store with 750 car spaces on the seven-hectare site on the corner of Boundary Road and the M1.
The Birsbane outlet, which is set to sell petrol, will be the company's fourth store in Australia since 2009.
"We'd like to find the right area for the south Brisbane market, on the Gold Coast downtown or perhaps west of Brisbane," Costco managing director Patrick Noone told the Courier Mail.
IKEA has announced plans for its second Brisbane superstore at the Westfield precinct at North Lakes, but awaits Morton Bay Regional Council approval.
CBRE recently reported the south-east Queensland bulky goods sector was set for growth during 2012.
CBRE director Craig Godber says around 66,000 square metres of new bulky goods supply is anticipated for 2012.
“This figure represents a 10% increase in new supply compared with 2011, a clear example of the sector’s ongoing recovery,” Godber says.
The supply will be dominated by the roll-out of further new Masters Hardware superstores and a number of new Bunnings stores in response.
There are at least a dozen new Masters and Bunnings stores tipped for the south-east Queensland retail supply pipeline for 2012 and 2013.
Masters Hardware stores planned include Bremer, North Lakes, Upper Coomera and Stafford, while Bunnings has stores underway or planned for locations including Arundel, Oxenford and inner city Newstead.
CBRE associate director of retail services Damian Crocetti says a 27,660-square-metre Harvey Norman-anchored centre will be completed in Maroochydore on the Sunshine Coast.
“This is significant, as it will be the first major new bulky goods centre in south-east Queensland since 2009,” Crocetti says.
The Gold Coast is also an area of focus, with the highly anticipated 10,451-square-metre Bundall Road Homemaker Centre proposed for completed in late 2013.
According to Crocetti, these developments are contributing to an optimistic outlook for the region.
“South-east Queensland has the population to support growth in the bulky goods sector in the medium to long term as the market recovers from the recent economic downturn and natural disasters,” Crocetti adds.
On the investment front, the report notes that after an extended period of limited activity (with just three major sales in the 12 months to June 2011), several major transactions totaling $177.5 million were recorded in the second half of 2011.
These included the $61.5 million acquisition of a 50% share in the Domain Central complex in Townsville by the Bunnings Warehouse Property Trust – the largest bulky goods transaction in Queensland since 2005.
Other sales completed during the period included The Zone Underwood ($23 million), The Zone Rothwell ($25.75 million) and Bundaberg Homemaker Centre ($10.5 million).
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Big box retailer Costco to open fourth Australian store in Brisbane

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Round Hill, the 93-hectare Southern Highlands lifestyle farm with picket fenced oval with cricket pitch, has been bought by the Australian cricket captain Michael Clarke and his wife, Kyly.
The property was advertised for August auction with $3.65 million hopes, and the couple are understood to have secured it after private negotiations for about $3.25 million.
The property last traded for $4,125,000 in 2006 when the neighbouring winemaker Louise Horsley bought it from a company owned by businessman Bill Ireland, the founder of Challenger Financial.  
The then Challenger chief Bill Ireland had the pitch on its irrigated oval installed and utilised it for corporate business and charity events after he bought the property for $2.05 million in 2000.
Designed by architect Richard Rowe, the four-bedroom house stands in mature gardens. It comes with a tennis court and equestrian arena, and Title Tattle recalls from a prior inspection, an impressive lake with boathouse and fountain.
Five of the nine paddocks have dams.
<img src="/images/stories/2012/08/clarkeflicker.jpg">
The Clarke purchase fulfills his dream of opening a cricket academy. It's a very private forested property accessed only by gravel road.
He told News Ltd papers his wife of four months, Kyly, was instrumental in purchasing the property.
"I have dreamed about doing something like this all my life but I didn't know how to do it," Clarke told News reporter Malcolm Conn. "Kyly's been amazing. She took the dream and turned it into a reality."
He said the academy, which he would love to open within two years, would educate youngsters in all facets of the game including diet.
"I have dreamed about doing something like this all my life but because of my playing schedule I never had the time to act on it," Clarke said.
<div> </div>
"Kyly has played a big part in turning this dream into a reality. Her experience in design and property management will help make this academy happen, and I couldn't be happier about it.
"I'm at a stage of my career where I'm getting older and one day I'll retire or be dropped. This gives me a great opportunity for a job after my playing career is over, doing something I can be proud of."
Berrima's proximity to Bowral, the boyhood home of Don Bradman, was reportedly a major attraction, with excursions to the recently refurbished International Cricket Hall of Fame being part of the holistic curriculum offered by his intended academy.
"I remember going down to Bowral when I was a kid and walking in Don Bradman's footsteps," Clarke said."It's a big part of the reason why we chose this area.
"Berrima is also close enough to the city that it is easy to get to, but far enough away to feel like you're away from it all. And it will give me the opportunity to spend time away from the mobile, the computer and all the busy aspects of life and focus solely on my training," said Clarke, who lives in the Sutherland Shire.
Clarke also plans to use the property to engage in pre-season boot camps, such as the one he undertook in Coffs Harbour before last summer's 4-0 Test series win over India.
Clarke expects the academy to be open for business within 12 to 24 months and will cater to local and overseas juniors. He has yet to discuss the project at length with Cricket Australia but insists he has no intention to compete against their Centre of Excellence in Brisbane.
It was listed through Cameron McKillop of McKillop Property and Michael Maloney of Richardson &amp; Wrench Bowral.
Berrima is one of the prettiest towns in the Southern Highlands, a rare example of a largely preserved Australian Georgian colonial town.
Established during the 1830s as a government settlement, Berrima is popular with Sydneysiders seeking weekenders or a quiet place to retire.
The Horsleys' wine label was the cool climate Blue Metal Vineyard.
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Michael Clarke pads up for Berrima, Southern Highlands, cricket academy venture

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Pub in the Paddock, billed as one of Tasmania's tourism icons, has been listed for sale with an $800,000 asking price.
Set in the valley of Pyengana, and close to the St Columba Falls, licensee Anne Free's pub is renowned for its beer-drinking pigs.
Visitors flock to visit the pub and give the pigs a stubby to drink. "This property is perfect for the owner operator, offering a life style that most can only dream of," its <a target="_blank" href="https://sthelens.ljhooker.com.au/558FN1">LJ Hooker St Helens listing agent Nereda Ball </a>says.
"It has owner's accommodation with beautiful views to the river and surrounding landscape."
It's been reported Pinky the pig is included in the sale. The St Columba Falls Road hotel was built in 1880 and continually licensed since 1901.
There are six country-style guest rooms at around $75 a night.
There is also a restaurant with seating for up to 100.
There is a commercial kitchen.
It's on three hectares that back onto South George River.
The pub hit national headlines in 2006 when animal liberationists suggested the pigs were being forced into a cruel and unnatural existence. But the pub's owners say it's just good fun, and that the pigs are also enjoying themselves when tourists pour a stubby down the their throats.  At the time Anne Free said the pigs were well looked after with the beers watered-down posing no threat to her stars – Pinky, long-time beer drinker Priscilla and her young understudy, PB. "I mean, I monitor what goes out to those pigs," she told ABC Radio.
"If a bus comes in I will only allow four stubbies to the whole bus of 55, and the stubbies, the bin that sits there is a whole week's bin.
"And of course these people say, 'Oh gee, look at all that, she's had all that, no wonder she's lying down.'
"And I get quite irate if people come in and say, 'Oh, is the pig inebriated.'
"You know, there's no way that these pigs would be mistreated like that," she said in 2006.
Free is off to her southern Tasmanian cherry farm. 
The beer-guzzling pigs helped the Pub in the Paddock at Pyengana make the a new publication Great Australian Pubs by Lee Mylne.
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Pinky the pig, Pub in the Paddock at Pyengana, Tasmania, listed

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Designer Angela Stamos, who runs her own design company, has listed her 1905 Edwardian abode, Invicta, which she has renovated and extended during her ownership.
The?Chaucer Crescent property has four bedrooms, three bathrooms plus study and separate nanny or guest accommodation.
The <a href="https://www.kayburton.com.au/property/31-chaucer-crescent-canterbury">70 square home </a>(651-square-metre) has three lift-accessed levels. There are fireside refined rooms that have been elegantly styled.  There's also a pool.
The expressions of interest close August 28, with the high $3?million range expected by Daniel Bradd of Kay and Burton.
The house was dismantled and re-built from the ground up, re-using almost all the original exterior joinery, doors, windows, verandahs and stained glass.
Angela’s inspiration came from the American architect Robert A. M. Stern, a master of grand timber mansions in the United States.
"The property expresses ‘visual equanimity’: the elegance of its feminine Queen Anne period features wraps comfortably around this surprising modern structure, belying its considerable scale,” says Angela.
 
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Chaucer Crescent Canterbury Edwardian charmer

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<img src="/images/stories/2012/08/giangulla.jpg">
<img style="margin: 5px; float: left;" src="/images/stories/flagtitletat.jpg">
The founder and managing partner of the corporate advisory firm O'Sullivan Partners, Tony O'Sullivan, and his wife, Marianna, founder of the children's fashion shop Arabella Boutique, have finally sold their  Bellevue Hill property (pictured above). Designed by Tzannes Architects, it fetched $6.95 million when bought by Edwina Horesman,  the fashionista who recently upgraded from her $3.15 million Drumalbyn Road, Bellevue Hill house. The Ginahgulla Road home  had been listed with $10 million-plus hopes in June 2010 shortly after its completion. The house set on a 1,030-square-metre block was built after the O"Sullivan family moved out in late 2006 to allow for its construction, only to subsequently get tempted and buy in Woollahra, where they seemingly now intend to reside.
Given the difficulty in selling Bellevue Hill, the couple had sought very briefly in March and April 2011 to offload the Woollahra acquisition but without success. The Tzannes-designed Bellevue Hill house, which sits amid Peter Fudge landscaping, has three levels. Its a four-bedroom, four-bathroom house with views across the harbour with a northern perspective. There is a self-contained guest wing with two bedrooms, two bathrooms and a kitchenette. The previous owners were the Cutler family, who sold at $3.45 million in 2004 after the O'Sullivans returned from six years in London.
 The O'Sullivans are not alone in their predicament, as Sydney's luxury market still suffers from a sales paralysis given a vendor class unprepared to quickly embrace revised price expectations that match cautious buyer offers.
<img style="margin: 5px; float: left;" src="/images/stories/flagtitletat.jpg"> Elsewhere in the pricey eastern suburbs, stockbroker John <a href=""></a><a href=""></a>Bowie Wilson and his wife, Sally, have listed their two properties simultaneously for sale. Their <a href="https://www.realestateview.com.au/Real-Estate/2-17-gladswood-gardens-double-bay/Property-Details-buy-residential-4296493">Double Bay waterfront </a>apartment – which has been renovated by architect Nick Tobias since the couple bought it for $5.8 million in 2010 – is for auction. Laing+Simmons Double Bay agent Sally Hampshire and Raine &amp; Horne Double Bay agent Martin Maskin have price hopes of $8.5 million for its August 27 auction. The longstanding Point Piper residence, where the Bowie Wilsons have lived since 1997, has also been recently relisted for sale  through Agency by Alison Coopes with offers due August 29.
Designed by architect Michael Suttor, with Michael Love interiors, the Wyuna Road house had been on the market in May last year, when listed with $10 million plus hopes through other agents. It last traded at $1,629,000 in 1997 when bough from the Wohl family. 
{yoogallery src=[images/stories/2012/06/june5deauville]}
<img style="margin: 5px; float: left;" src="/images/stories/flagtitletat.jpg">Another case of a swap almost coming off the rails occured when the property developer and yacht racing identity George Snow and his wife, Sabrina, sought for many months to sell Deauville (pictured above), the 1935 five-bedroom Point Piper harbourfront residence with direct frontage to Lady Martins Beach. It sold for about $13.6 million, but it was 13 months after the Longworth Avenue house went to June auction last year when it was passed in at $16.1 million while seeking $17 million plus.
In the meantime their Keltie Bay, Darling Point penthouse, which was bought for $8.5 million, was put up for sale as they explored their options. 
Deauville was bought by the Haifer family, who've sold in Bellevue Hill for about $10 million. Coppernoll, the Haifer family's 1920s Kambala Road residence, sold off-market having been extensively renovated in 2003 after it was traded for $2.85 million in 2000. The Kambala Road property was briefly listed with $10 million hopes in 2004. The 1,347-square-metre property has a wide street frontage and security gates that open to a driveway down to two double garages and a porte cochere. The rear comes with a wide covered terrace overlooking the swimming pool and level lawn.
<img style="margin: 5px; float: left;" src="/images/stories/flagtitletat.jpg"> 
Returning from his lengthy overseas posting, Macquarie banker Tim Bishop and his wife, Stacey, have decided not to return to their Bellevue Hill house, but rather buy Ecclesbourne, the Ocean Avenue Double Bay property through LJ Hooker agent Bill Malouf. At a reported $9.5 million, it was sold by recruitment executive Mark Kerry and his interior designer wife, Lynda Kerry, who renovated the circa-1840s heritage-listed house after they bought it from the Cancer Patients Assistance Society of NSW. Mark was a backstroke and freestyle swimming champion, the winner of three Olympic medals. The Bishops' Kambala Road bungalow, with development approved plans, remains listed through Malouf.
<img src="/images/stories/2012/08/baluka.jpg">
<img style="margin: 5px; float: left;" src="/images/stories/flagtitletat.jpg">The latest big Bellevue Hill listing is the former Toorak banker Mike Tilley, who came up from Melbourne to work for the Packer family of Bellevue Hill. He  parked himself on Bulkara Road, paying $8.4 million in 2005. Bill Malouf at LJ Hooker Double Bay is entrusted with the prestige listing (pictured above), having come off some recent big sales. Set on 1,286 square metres, the renovated residence showcases French Moderne interiors by designer Sally Greenaway. The gardens come with generous outdoor living areas and large gas-heated swimming pool.
 
<img style="margin: 5px; float: left;" src="/images/stories/flagtitletat.jpg"> Title Tattle likes to tell readers of all the property deals as soon as they happen – if not before – so the latest word from Bellevue Hill is that it was the Scali family - Nicodemo and Johanna - who recently spent the $9.5 million through Malouf to buy from the Malouf  family. It sold within 28 days of listing suggesting the vendors had been well conditioned on current market condistions. Designed by Bruce Stafford Architects, the 1,143 sq m holding comes with northerly harbour views.<a href=""></a>
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Battling to find willing buyers in fashionable Bellevue Hill – as gap between asking and sale prices hits 25%: Title Tattle 

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The former South Melbourne headquarters of the Royal College of General Practitioners has been sold with vacant possession for a healthy $9 million  by Lemon Baxter director Paul O’Sullivan.
<img src="/images/stories/2012/08/generalpractitioners.jpg">
The buyers are believed to be proposing a refurbishment and re-lease of the building to take advantage of the improving market.
The Palmerston Crescent property sold to a joint venture between Guy Nelson’s Alpha Partners and the JAK Investment Group.
The four level offering with 3,000-square-metre space had been the home of the medicos for 18 years.
The Royal College of General Practitioners has relocated to East Melbourne.
O’Sullivan says the sale price for the historic site reflects growing confidence in an ever improving property market.
Nelson was formerly Macquarie’s head of property, and JAK is owned by Nelson’s former colleagues Adam Jane and Daniel Knights.
The property also has future high-rise development potential.
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The Royal College of General Practitioners South Melbourne HQ fetches healthy $9 million

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The Golden Door health retreats are for sale. Lasseters International has engaged Jones Lang LaSalle Hotels to sell Cypress Lakes and its other Golden Door health retreats. Lasseters says the strong Australian dollar and poor consumer confidence have had an effect on its revenues.
The retreats, which cost guest  up to $3,500 for a week, have been listed by the Singapore-based casino operator.
The offerings comprise the Golden Door Spa and Health Club adjoining the Sheraton Mirage on the Southport Spit, the Golden Door at Salt south of Tweed Heads and the Golden Door Elysia and Cypress Lakes Resort in the Hunter Valley. The assets could fetch up to $30 million, it's been reported.
Lasseters, which owns the Alice Springs hotel-casino, gained a controlling stake in the listed Cypress Lakes group several years ago and has since moved to full ownership.
Expressions of interest are invited by Jones Lang LaSalle Hotels’ managing director – investment sales Australasia, Mark Durran, and senior vice president – investment sales, Peter Harper, who have been exclusively appointed to handle the marketing process.
The properties can be bought as a portfolio or individually.
The Golden Door at Willowvale was described by its 1993 founder Brian Looker as the world's best health resort.
An overview of the respective assets follows:
<ul>
<li>
Cypress Lakes Resort, Hunter Valley, NSW – Situated on a huge 98 hectare parcel in the heart of the Hunter Valley, the Resort features three food &amp; beverage outlets, extensive conference facilities across four venues, leisure facilities and a championship 18 hole golf course. There are also two large development sites as well as a cellar door (currently leased to Brokenwood) and five acres of grape vineyards. Guest accommodation is provided through the management rights of 146 strata titled villas. The property is currently branded as the Grand Mercure Apartments.
</li>
<li>
The Golden Door Elysia, Hunter Valley, NSW - Located adjacent to Cypress Lakes Resort, the purpose built health retreat is the largest of its type in New South Wales. Opened around eight years ago, it features a restaurant, four conference rooms, 26 treatment rooms, and an array of leisure facilities. Guest accommodation consists of 74 one, two and three bedroom villas which are leased from third parties.
</li>
<li>
The Golden Door at Salt Village, NSW - Situated in the heart of Salt Village, the purpose built two-level day spa features 15 treatment rooms and supporting facilities. Salt Village is a master planned beachfront residential and tourist village. Located adjacent to the Peppers Resort and within close proximity to the Mantra and Bale Resorts, the retreat is perfectly positioned to attract a range of market segments.
</li>
<li>
The Golden Door Willow Vale, Gold Coast, QLD – Established in 1993, the property occupies a large freehold rural allotment and comprises the leasehold interest in 35 privately owned strata titled villas which provide a total of 48 rooms. Guest facilities include a reception area, dining room, retail boutique, day spa, exercise room, gymnasium, tennis court and two swimming pools. 
</li>
<li>
The Golden Door Spa &amp; Health Club at Mirage Resort, Surfers Paradise, QLD – Forming part of the Sheraton Mirage Resort and opposite the popular Marina Mirage precinct comprises a single-level purpose-built facility which incorporates 12 treatment rooms, a retail boutique, gymnasium, 25 metre heated swimming pool and four tennis courts. 
</li>
</ul>
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All three Golden Door health retreats for sale

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Buyers aren't embracing social media quite yet when it comes to property purchasing.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/three-bedrooms-two-car-spots-and-140-characters-houses-with-their-own-twitter-accounts/2012061555137">Estate agents are increasingly using social media</a> as another way of marketing their property listings, but buyers are sticking to traditional means of research.
PRDnationwide research found only 10% of buyers said they would be more attracted to a property if it were  marketed on social media, such as Facebook or Twitter.
Some 76% replied they were not more attracted to a property marketed on social media.
It was an "unexpected" result, according to PRD research director Aaron Maskrey.
"More agents are using social media to gain buyer interest in their listings, but it seems buyers prefer traditional methods of marketing," he says.
Maskrey suggests the impact of social media on the real estate industry will change and is likely to grow as the younger and more technologically savvy generation enter the property market.
Maskrey says social media is quick and cost-effective, but the benefits are still unknown.
However, he believes there is space in the marketing sphere for more than agent websites, print advertising, boards in front of homes and open-for-inspections.
"But it's yet to be seen if using social media to promote properties will lead to more sales," he says.
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Social media yet to find property buyers

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With Ferraris and Lamborghinis lining the street –according to James buyers' advocate Kate Agnoleto – there was a feeling of excitement and anticipation in the air leading up to the onsite auction.
And its RT Edgar listing agent Jeremy Fox wasn't disappointed after selling the Toorak townhouse at weekend auction for $5.5 million.
There were three bidders at the auction of the brand-new Nicholas Day-designed property on Cole Court.
"It's positive for the market. We haven't seen a lot of that for a while," Fox told Fairfax Media.
The bidding on the townhouse kicked off at $5 million, and it had a reserve price of $5.4 million.
The three-bedroom townhouse with study and pool is set on a 560 square metre holding in a cul-de-sac off Irving Road.
It came with interiors by David Hicks with extensive use of Italian Calacatta marble and American oak parquetry.
“Blue-chip real estate with the wow factor – it doesn’t get much better than this,” auctioneer Jeremy Fox noted in his preamble.
This week's top 10 sales:
1. <a href="https://www.myrp.com.au/n/13-cole-court-toorak-vic-3142/myrp-490?propertyId=13580614">13 Cole Court, Toorak, VIC, 3142</a>, three-bedroom house, sold at auction on August 11 by R T Edgar Real Estate Toorak for $5.5 million
2. <a href="https://www.myrp.com.au/n/60-willoughby-street-kirribilli-nsw-2061/myrp-490?propertyId=3437060">60 Willoughby Street, Kirribilli, NSW, 2061</a>, five-bedroom house, sold at auction on August 9 by Ray White Lower North Shore for $4.5 million
3. <a href="https://www.myrp.com.au/n/90-barker-road-strathfield-nsw-2135/myrp-490?propertyId=6479754">90 Barker Road, Strathfield, NSW, 2135</a>, five-bedroom house, sold at auction on August 11 by Georges Ellis &amp; Co for $2.96 million
4. <a href="https://www.myrp.com.au/n/17-victoria-crescent-mont-albert-vic-3127/myrp-490?propertyId=11881818">17 Victoria Crescent, Mont Albert, VIC, 3127</a>, three-bedroom house, sold at auction on August 11 by Jellis Craig for $2.81 million
5. 6B/3 Campbell Parade, Bondi Beach, NSW, 2026, three-bedroom unit, sold prior to auction on August 11 by Goodyer Donnelley for $2.57 million
6. <a href="https://www.myrp.com.au/n/61-well-street-brighton-vic-3186/myrp-490?propertyId=10025069">3/61 Well Street, Brighton, VIC, 3186</a>, three-bedroom unit, sold at auction on August 11 by Hocking Stuart Brighton for $2.525 million
7. <a href="https://www.myrp.com.au/n/26-parslow-street-malvern-vic-3144/myrp-490?propertyId=11581173">26 Parslow Street, Malvern, VIC, 3144</a>, four-bedroom house, sold prior to auction on August 11 by Marshall White Albert Park for $2.3 million
8. <a href="https://www.myrp.com.au/n/75-roslyn-street-brighton-vic-3186/myrp-490?propertyId=10021154">75 Roslyn Street, Brighton, VIC, 3186</a>, five-bedroom house, sold at auction on August 11 by Hodges for $2.3 million
9. <a href="https://www.myrp.com.au/n/2-crossakiel-court-hawthorn-vic-3122/myrp-490?propertyId=11188397">2 Crossakiel Court, Hawthorn, VIC, 5062</a>, four-bedroom house, sold at auction on August 11 by Kay &amp; Burton Hawthorn for $2.125 million
10. <a href="https://www.myrp.com.au/n/19-garden-avenue-brighton-east-vic-3187/myrp-490?propertyId=10032807">19 Garden Avenue, Brighton East, VIC, 3187</a>, four-bedroom house, sold prior to auction on August 8 by Biggin &amp; Scott for $2 million
 
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Toorak townhouse sells for $5.5 million – the week's highest sale: RP Data

ASX-listed developer <a href="https://www.apartments.com.au/developers/stockland">Stockland</a>&nbsp;is continuing its push back into the new apartment market, filing plans for a prominent gateway site between Collingwood and East Melbourne.

The development giant, which moved back into the new apartment space when it announced Stanton Place in Sydney's Rosebery and have since filed plans for a 50-storey tower, are jumping into the off the plan Melbourne market.

They are hoping to create a mixed-use neighbourhood precinct for <a href="https://www.apartments.com.au/new-apartments/79-81-victoria-parade-collingwood-vic-3066">79-81 Victoria Parade</a>, replacing an existing commercial building with a scheme by <a href="https://www.apartments.com.au/architects/john-wardle-architects">Wardle</a>&nbsp;for 478 apartments,&nbsp;ground-floor retail, new public open spaces and a publicly accessible pedestrian laneway.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="72dbbca9-3918-4073-afad-a0c0c35be8e7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20pers.png?VersionId=bzMVUKKxvwuNK1m0v_td126Rgct32uk_" />

The design report identifies the public realm as a central driver of the proposal.

"Collingwood has limited access to high-quality parks and public open space, and the proposal delivers valuable new areas for respite, social interaction and fine-grain retail activity."

The development would deliver a diverse mix of housing, including studio, one, two and three-bedroom apartments alongside townhouse-style residences. Two basement levels are proposed beneath the development, providing resident and retail parking as well as extensive bicycle facilities.

Wardle's design draws heavily on Collingwood's industrial character, using articulated building forms, brickwork and robust materials inspired by the suburb's warehouse and manufacturing heritage. The built form has been broken into a series of smaller volumes to better respond to the surrounding streetscape while extensive communal gardens, rooftop amenities and shared resident spaces are integrated throughout the project.

<img alt="First look: Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site" data-entity-type="file" data-entity-uuid="7b2135ed-65df-4253-ad53-f216f06bd467" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%20podium.png?VersionId=l1B6Hqn8zs772VxH6L1fDPg0KHshan9v" />

The planning documents describe the existing office building as offering little engagement with the public realm, with the redevelopment intended to create a more permeable and active neighbourhood destination.

"The proposed scheme presents a significant opportunity to deliver a vibrant retail plaza and a local neighbourhood hub serving both existing and future Collingwood residents."

The 79–81 Victoria Parade site occupies a strategic location about 1.5 kilometres east of Melbourne's CBD, at the threshold between Collingwood and East Melbourne. It is well served by tram services along Victoria Parade and sits within walking distance of St Vincent's Hospital, Fitzroy Gardens, the Fitzroy activity centre and a broad range of employment, retail and hospitality destinations.

Joel Robinson

Stockland plans new mixed-use neighbourhood precinct for Collingwood gateway site

An 1880s timber cottage that has survived Kangaroo Point's transformation from riverside suburb to high-density apartment precinct is set to become the centrepiece of <a href="https://www.apartments.com.au/developers/zephyr">Zephyr Group</a>'s proposed Banksia development.

Rather than see the locally heritage-listed Alpha Cottage as an obstacle to navigate, plans integrate the landmark home into a new 18-storey residential tower, giving one of the suburb's oldest surviving residences a new role as the project's communal hub.

The development application covers a 1,177 sqm amalgamated site at 127-133 Lambert Street and 30 Shafston Avenue, where Zephyr Group plans to deliver 64 apartments above three basement levels. Designed by <a href="https://www.apartments.com.au/architects/joe-adsett-architects">Joe Adsett Architects</a>, the proposal carefully weaves the retained heritage cottage into a contemporary residential scheme, with the tower elevated above the historic building to preserve its presence within the Lambert Street streetscape.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="f9dc5bdb-d691-4c60-bf2b-c3ed405a3e75" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Banksia.png?VersionId=Jh4bjlewU.o8HXWt0V4KaFA_lPcF7KWM" />

Named after the native Australian Banksia flower, the project draws inspiration from its distinctive form through curved balconies, sculpted planter boxes and cascading subtropical landscaping that soften the building's profile.

As the design report explains: "The tower's identity is defined by its feature facade, drawing direct inspiration from the Banksia wildflower. The building departs from traditional rigidity through the use of elegant, GRC-moulded planter boxes that appear as if shaped by the breeze."

Plans propose 64 apartments, comprising 32 two-bedroom and 32 three-bedroom residences, across an 18-storey tower. Residents would have access to rooftop amenities including a swimming pool, spa, gym, sauna, private cinema, dining spaces and landscaped recreation areas, while more than half the site is dedicated to planting and open space.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="16041b5f-033e-47fa-8fbe-9886e072c1f2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pool.png?VersionId=kpx5w4EbLx0_TdWfDoD1vrSs0_cZ5Ao1" />

The heritage component is the defining feature of the proposal. Constructed in the early 1880s and occupied from at least 1883, Alpha Cottage is recognised by Brisbane City Council as an important surviving example of Kangaroo Point's nineteenth-century residential development and as a representative transverse-gable timber cottage. Despite extensive redevelopment across the peninsula, the building has retained a high degree of its original form and internal fabric.

As part of the redevelopment, the cottage will be carefully relocated a short distance within its original allotment to facilitate construction before being returned to a prominent position along Lambert Street. Original verandah elements will be dismantled, catalogued and reinstated, while significant internal features, including timber flooring, wall linings, joinery, doors, windows and hardware, will be retained. Later additions, including the enclosed rear verandah, will be removed to better reveal the building's original form.

Once restored, Alpha Cottage will accommodate the building manager's office, mail room and parcel facilities, providing an active everyday use that supports its long-term conservation rather than preserving it as a static display. The heritage strategy also maintains landscaped space around the building, allowing it to remain visually distinct beneath the new tower.

<img alt="First look: Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage" data-entity-type="file" data-entity-uuid="43b027e1-576e-4624-a66c-7cc54ea8b7be" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/banksia%20tower.png?VersionId=2W6E2yfkj2AQlWlLeV986grA5zB9f817" />

The Heritage Impact Assessment concludes that "the proposal secures the ongoing occupation, maintenance and conservation of Alpha Cottage," finding the development would result in "no more than a minor impact on the cultural heritage significance" of the building while ensuring its long-term future.

Joe Adsett Architects have designed the tower to sit above the heritage building rather than overwhelm it, creating a clear visual separation between old and new. The development's flowing balconies, integrated planting and organic façade respond to Brisbane's subtropical climate while complementing the restored cottage below.

Banksia occupies a prominent corner in Kangaroo Point within walking distance of the Kangaroo Point Bridge, Brisbane River, ferry services, QUT, the CBD and the Woolloongabba precinct. The site also benefits from direct access to active transport infrastructure and sits within an area earmarked for continued higher-density residential growth.

Zephyr Group's Banksia to wrap new Kangaroo Point tower around 1880s Alpha Cottage

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]

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]

Jonathan Chancellor

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