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Melbourne’s median has dropped to $551,000, according to the Real Estate Institute of Victoria’s September quarter market update, given concerns about the international economy and negative consumer sentiment. The results equated to more than two-thirds of Melbourne's homes having either lost value or stayed flat in price over the past three months, with just 78 of the 272 reported suburbs growing in value over that time.
<img src="/images/stories/reivoct17large.gif">
Prices have come back $50,000, or 8.3%, from their peak last December.
“We are now experiencing a soft housing market,” REIV chief executive Enzo Raimondo says.
The 2.8% reduction was on the revised June quarter median house price of $567,500.
The result was similar in the unit market, where the median dropped by 2.3% from $467,000 to $465,500 on revised numbers.
The REIV had surprised the market when it initially gave Melbourne’s median house price as $590,000 in the June quarter, which represented a 5.4% jump. The REIV initially has Melbourne’s median unit price as $474,000, which represented a 3.2% rise.
“The recent trend of reduced demand in the more expensive segments of the market has continued,” Raimondo notes.
And the effects of the surge in population between 2005 and 2010 were still bolstering demand in the more affordable suburbs.
“Across Melbourne this means that the outer suburbs have recorded an overall better result than the inner ones have.”
With a 10% annual jump to $385,000, Deer Park topped the list of suburbs recording positive growth over the year.
Positive growth over the year has also been recorded in Wyndham Vale, Sunbury, Caroline Springs, Berwick, Hawthorn and Balwyn, which topped the list of suburbs with its September quarter growth.
Demand in regional Victoria has largely mirrored that in Melbourne, with the median price of a house dropping by 3.1% to $310,000 from $320,000 in the June quarter.
Of the main regional centres, Geelong recorded a 5.7% jump to a median house price of $390,000.
In Ballarat prices were stable, with the median of $285,000, and in Bendigo there was a 2.6% reduction to $277,500.
“The lesson from the GFC, when the median fell by 14%, is that the market will remain subdued until confidence improves in the economy or there is stimulus in the form of lower interest rates,” Raimondo suggests.
Top 10 Growth Suburbs, Houses (Annual)
Note: Only suburbs where a minimum of 30 sales recorded in each quarter are included.
<table style="width: 470px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="108"></td>
<td width="133">
Suburb
</td>
<td width="77">
Sept-11 Median
</td>
<td width="77">
Sept-10 Median
</td>
<td width="80">
Annual Change
</td>
</tr>
<tr>
<td>
1
</td>
<td>
Deer Park
</td>
<td>
$385,000
</td>
<td>
$350,000
</td>
<td>
10.0%
</td>
</tr>
<tr>
<td>
2
</td>
<td>
Wyndham Vale
</td>
<td>
$350,000
</td>
<td>
$318,950
</td>
<td>
9.7%
</td>
</tr>
<tr>
<td>
3
</td>
<td>
Mount Eliza
</td>
<td>
$770,000
</td>
<td>
$705,000
</td>
<td>
9.2%
</td>
</tr>
<tr>
<td>
4
</td>
<td>
Hawthorn
</td>
<td>
$1,300,000
</td>
<td>
$1,205,000
</td>
<td>
7.9%
</td>
</tr>
<tr>
<td>
5
</td>
<td>
Frankston South
</td>
<td>
$552,500
</td>
<td>
$515,000
</td>
<td>
7.3%
</td>
</tr>
<tr>
<td>
6
</td>
<td>
Balwyn
</td>
<td>
$1,590,000
</td>
<td>
$1,490,000
</td>
<td>
6.7%
</td>
</tr>
<tr>
<td>
7
</td>
<td>
Sunbury
</td>
<td>
$373,000
</td>
<td>
$350,000
</td>
<td>
6.6%
</td>
</tr>
<tr>
<td>
8
</td>
<td>
Berwick
</td>
<td>
$490,000
</td>
<td>
$460,000
</td>
<td>
6.5%
</td>
</tr>
<tr>
<td>
9
</td>
<td>
Newport
</td>
<td>
$706,750
</td>
<td>
$665,000
</td>
<td>
6.3%
</td>
</tr>
<tr>
<td>
10
</td>
<td>
Caroline Springs
</td>
<td>
$443,500
</td>
<td>
$420,000
</td>
<td>
5.6%
</td>
</tr>
</tbody></table>
 
Top 10 Growth Suburbs, Houses (Quarterly)
Note: Only suburbs where a minimum of 30 sales recorded in each quarter are included.
<table style="width: 470px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="108"></td>
<td width="133">
Suburb
</td>
<td width="77">
Sept-11 Median
</td>
<td width="77">
Jun-11 Median
</td>
<td width="80">
Quarterly Change
</td>
</tr>
<tr>
<td>
1
</td>
<td>
Balwyn
</td>
<td>
$1,590,000
</td>
<td>
$1,280,000
</td>
<td>
24.2%
</td>
</tr>
<tr>
<td>
2
</td>
<td>
Deer Park
</td>
<td>
$385,000
</td>
<td>
$346,500
</td>
<td>
11.1%
</td>
</tr>
<tr>
<td>
3
</td>
<td>
Brighton East
</td>
<td>
$1,156,250
</td>
<td>
$1,050,000
</td>
<td>
10.1%
</td>
</tr>
<tr>
<td>
4
</td>
<td>
Newport
</td>
<td>
$706,750
</td>
<td>
$655,000
</td>
<td>
7.9%
</td>
</tr>
<tr>
<td>
5
</td>
<td>
Glen Waverley
</td>
<td>
$768,800
</td>
<td>
$722,000
</td>
<td>
6.5%
</td>
</tr>
<tr>
<td>
6
</td>
<td>
Wyndham Vale
</td>
<td>
$350,000
</td>
<td>
$330,000
</td>
<td>
6.1%
</td>
</tr>
<tr>
<td>
7
</td>
<td>
Boronia
</td>
<td>
$455,000
</td>
<td>
$432,750
</td>
<td>
5.1%
</td>
</tr>
<tr>
<td>
8
</td>
<td>
Narre Warren South
</td>
<td>
$410,000
</td>
<td>
$395,000
</td>
<td>
3.8%
</td>
</tr>
<tr>
<td>
9
</td>
<td>
Rowville
</td>
<td>
$550,000
</td>
<td>
$530,000
</td>
<td>
3.8%
</td>
</tr>
<tr>
<td>
10
</td>
<td>
Carrum Downs
</td>
<td>
$355,000
</td>
<td>
$342,500
</td>
<td>
3.6%
</td>
</tr>
</tbody></table>
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jchancellor-FAypfDUnLy

Melbourne median house prices fall in see-sawing market

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Melbourne’s rental vacancy stands at 2.3% of rental homes managed by real estate agents, representing a small contraction since the 2.5% of July.
The vacancy rate has averaged 2% over the past six months, according to the survey of Real Estate Institute member agencies.
The last time the overall Melbourne market was in balance – a vacancy rate of 3% or higher – was back in January 2005.
Within Melbourne the greatest vacancies are in the outer suburbs, although the rate contracted from 3.2% in July to 2.9% in August.
The middle suburbs' vacancy rate was 2.4%, tighter than the 2.6% in July.
Melbourne’s inner suburbs’ vacancy rate contracted from 2.2% to 1.7%.
Real Estate Institute of Victoria chief executive Enzo Raimondo notes the vacancy rate remains lower in regional Victoria than in the capital, with 1.9% of rental homes vacant in regional Victoria, an increase from the tight 1.6% in July.
It was the highest for more than a year in the regions.
The Geelong region has the highest availability of the main regional centres, with 3.7% compared with 2.1% in July.
In Ballarat the rate tightened from 0.8% to 0.6%.
In Bendigo the rate eased slightly from 0.3% to 0.4%.
Warrnambool’s vacancy rate went from 3.3% to 4.6%, REIV figures show.
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Melbourne's vacancy rate tightens to 2.3%

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The wealthiest 20% of households have increased their average net worth 15% since 2005-06, while the poorest 20% of households saw only a 4% rise, according to the Australian Bureau of Statistics. The wealthy households had an average net worth of $2.2 million per household, and accounted for around two-thirds of total household wealth. 
The poorest 20% of households had an average net worth of $32,000 per household, which accounted for 1% of total household wealth. The average wealth of an Australian household in 2009-10 was $720,000, up 14% since 2005-06, with one in five households owning property other than their own home, including holiday homes and rental properties.
<img src="/images/stories/abswealth.gif">
Source: Australian Bureau of Statistics 
The research concluded there was a strong correlation between net worth and home ownership, and for many households, their dwelling is their main asset. Owners without a mortgage had the highest mean net worth of $1,179,000 which is 64% higher than the mean net worth of all households, at $720,000. 
Renters had lower mean net worth of $158,000 – constituting 22% of the average for all households. Private renters averaged net worth of $176,000, while renters from state/territory housing authorities averaged net worth of $42,000.
The survey found wealth was distributed between households somewhat differently to income. 
While the 20% of households comprising the lowest net worth quintile accounted for only 1% of total household net worth, they accounted for 12% of total gross household income. 
The 20% of households comprising the lowest gross household income quintile accounted for 4% of total gross household income but 13% of total net worth. 
The ABS concludes the differences in the distribution of wealth and income partly reflects the common pattern of wealth being accumulated during a person's working life and then being used during retirement. 
Many households with relatively low wealth have relatively high income, especially if they are younger households, and conversely older households may have accumulated relatively high net worth over their lifetimes, but have relatively low income in their retirement. In addition, some households have low or even negative incomes due to business or investment losses, but still have relatively high levels of net worth.
The ABS found differences in the average levels of wealth between the states and territories, with Queensland, South Australia and Tasmania below the national average. Household wealth was more concentrated in metropolitan areas. The average net worth of households located in capital cities was $772,000 as compared with $629,000 in areas outside of capital cities. Owner-occupied homes were the main asset held by Australians. Mortgages on them were the main liability, with over two-thirds of Australian households owning their own home either outright or with a mortgage. For households that owned their home outright (2.7 million households), the average value of the home was $541,000. For those households with a mortgage on their home, the average value of the home was $521,000, and the average mortgage outstanding was $188,000, giving a net home equity of $333,000. The average value of household contents was $61,000. The principal outstanding on vehicle loans averaged $2,300 per household, and the average household credit card debt was $2,600. Superannuation was the main financial asset held by households, with three-quarters of all households having some superannuation assets. For households with superannuation, the average value of their superannuation was $154,000, but for half of these, the value was less than $60,000. 
The group with the highest mean household net worth was couple only aged 55 to 64 ($1,317,000) with many either nearing the end of their time in the labour force or have recently retired, that is, they are at the end of the main wealth accumulation period. 
People over 65 had lower net worth on average ($1,111,000 for couples and $572,000 for lone persons), at least partly reflecting a run-down of assets to support consumption in retirement. 
The ABS notes these older cohorts may also have had less opportunity for capital accumulation in earlier decades, for example, because women had lower participation rates in the paid work force. Single people aged under 35 had the lowest mean household net worth, at $151,000. The mean household net worth of couple only households with a reference person aged under 35 was $237,000 or $119,000 per person. 
One-parent households with dependent children had a mean net worth of $276,000, compared with $827,000 for couple family households with dependent children. 
Home ownership for the one-parent family households was about half that of the couple family households – 40% and 77% respectively.
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Rich getting richer, poor getting moderately left behind: ABS

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Franchisees could put in a bid to buy Refund Home Loans following the company's announcement it has entered voluntary administration.
Refund Home Loans announced to franchisees that it had entered voluntary administration due to $2.5 million in debt.
Refund founder Wayne Ormond has suggested the company's problems were due to over exuberant growth exacerbated by banks retreating from financing the company's debt following the Queensland floods.
Having added a number of new businesses in the past three years, the inability to secure additional investors following the market slow down as a result of Queensland’s January floods led to the appointment being made due to increasing pressure from creditors, most notably the Australian Taxation Office.
According to a communication sent from the administrators, SV Partners, to Refund Home Loan franchisees, increasing pressure from creditors forced the company to call in administrators to seek the quick sale of the business
The administration will not affect Refund Real Estate or Refund Financial Planning.
Established in 2004,Refund Home Loan's business concept of paying a refund to its clients took it to sixth place in the competitive mortgage market within five years.  
The directors have advised SV Partners that there are at least four interested parties for the purchase of the business and it is believed that a consortium of franchisees is interested in bidding for the business. 
It is therefore expected that all franchisees will continue to operate "business as usual".
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Wayne Ormond's Refund Home Loans in voluntary administration

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Grocon is suing the Gold Coast apartment developer Juniper, alleging it has failed to make payments on time for the construction of the $850 million Soul, Surfers Paradise tower.
But Juniper’s managing director Graeme Juniper says: “Juniper has always paid, and will continue to pay, in accordance with certification.”
With an 82-page statement of claim, Grocon also launched action against the building certifier, Rider Levett Bucknell, in the Brisbane Supreme Court proceedings.
Grocon’s contract to build Soul was worth more than $300 million, according to the Australian Financial Review.
Grocon claims it is not obliged to pay liquidated damages for some delays.
Juniper says it has paid what it has been ordered to pay and the most recent certificate says that Grocon owes Juniper $16 million. 
The independent certifier is Rider Levett Bucknall, a leading global organisation that has been involved in some of the world’s largest commercial construction projects. 
“Juniper denies Grocon’s claims and welcomes the opportunity to address them in the appropriate forum as soon as possible,” Juniper says.
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Grocon-Juniper stoush over Surfers Paradise Soul tower

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<img src="/images/stories/hoopers2.jpg">
Hoopers Lane, the Hunter Valley retreat of Mosman residents Peter and Helen Hooper, has been listed through Shelly Jurd of Jurd’s Real Estate.
The 20-hectare Pokolbin country estate – with boutique olive grove and cattle yards – is in the heart of the Hunter Valley wine tourist region surrounded by wineries, cellar doors and restaurants.
The Debeyers Road homestead, with its open-plan design, has a large entertainment space, vaulted ceilings, and a well-appointed kitchen.
It comes with two guest cottages.The property has three linked dams (complete with 10-megalitre irrigation licence), plus 140,000-litre underground freshwater storage.
The Hoopers bought the property for $450,000 in 1999.
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Hunter Valley country estate on the market

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Blacktown estate agents – who have been in the spotlight this week following the auction finale of Channel Ten series The Renovators –are seeing first-time home buyers aiming to take advantage of the state government’s reduced stamp duty offering on established cottages before the waiver runs out December 31.
Terry Li, the estate agent who sold the fibro cottage to Channel 10 for The Renovators series, says the market has marked changing characteristics.
“In a short-term period we will be experiencing a strong local market demand from first-home buyers, as there are already a large number who want to take the advantage of the stamp duty waiver,” Li says.
“But early next year we will be experiencing  a slower market as first- home buyers holds back and monitor the market movement.
“Investors have been on hold due to the lack of confidence in the share market. The past losses in the share market has yet to recover,” Li says.
He notes Blacktown is experiencing  4.6% annual growth, with a $365,000 median house price.
“The average discounting rate on houses at 7.1% makes it very affordable for the western suburbs, with a newly built shopping centre and train station upgrade and most recently car parking facility for the train commuters.
“The lowest for the suburb was back in 2007 with a $305,000 median price and a negative 4.7%.
“The market is gradually recovering,” he suggests.
James Lee at Comfirst Real Estate says the current market is still good.
“Buyers are mainly first-home buyers.
“I anticipate the market will slow down after the abolishment of stamp duty for first-home buyer exception from January 2012,” Lee says.
He suggests investors demand has slowed down in anticipation of a reduction in price after January 2011.
The properties in demand were priced between $350,000 and $400,000 for fibro houses and between $400,000 and $450,000 for brick veneer houses.
Lee doesn’t expect the Harold Street sale on The Renovators will affect the market.
Century 21 Joel Hollings, who assisted in the marketing of the $440,000 sale on The Renovators, says the market is relatively steady with a good mix of buyer and sellers.
He says the gap is widening between unrenovated houses and renovated  ones, which he says is a good sign for a true marketplace.
“In good times some of the unrenovated homes sell for more than what we expect as buyers get caught up in the hype and do not research properly,” he suggests.
He says the auction result has shown the Blacktown has lost its old stigma and “will be a choice of many more families to come”.
“We see the market staying stable in the coming months, although some commentators have said the market will drop after the first home buyers stamp duty exemption drops off.
“However as Blacktown is the lowest-value area in our basin we believe people will adjust their budgets from the more expensive areas as seen during 2008-2009 GFC and travel back into our market, thus counteracting any downturn caused by first-home buyers dropping off.”
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First-home buyers emerging in Blacktown in the aftermath of The Renovators finale

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<img src="/images/stories/middlecrescent.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">In 2006 historic Brighton residence Totnes (pictured above) sold to the then incoming Newcrest mining boss Ian Smith, the seasoned mining engineer born and raised in Broken Hill. Smith was in London at the time of his purchase, where he had been a senior Rio Tinto executive. The then selling agent Damian Taylor was surprised when it sold to a buyers' advocate who was representing a client who had viewed the property just 24 hours earlier on the internet.
The 1892 mansion with 10 rooms sits on an 1,100-square-metre block. It’s been listed for October 22 auction through Barb Gregory and James Redfern at Marshall White Brighton. Gregory says the house is expected to fetch $4.5 million. Smith stepped down at the end of June this year from Newcrest after five years in which he turned around the nation's biggest gold miner and doubled its market value. Newcrest’s recent annual report revealed it’s still paying Smith until the end of the year along with a $2.25 million payment on December 31. Smith received $1 million bonus after sealing a $9.5 billion takeover by Lihir Gold last year.
<img src="/images/stories/wyuna.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Retired surgeon Bill Roney and his wife, Sara, have listed their 1901 Point Piper residence (pictured above). Roney, who played rugby league for the Roosters from 1958 to 1962 and then for the Eels from 1963 to 1965, has been at the Wyuna Road property since paying $2.2 million in 1999. The price guide of more than $5.7 million is being given for the 670-square-metre holding by its conjunctional listing agents Sally Hampshire at Laing + Simmons Double Bay and Hamish Robertson at McGrath Estate Agents.
<img src="/images/stories/doubleisland.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Double Island (pictured above), the tropical far north Queensland island belonging to one-time dot.com success story and OzEmail founder Sean Howard, comes with an $8 million asking price through Colliers International agent Jay Beattie. Set near Cairns just one kilometre off the coast at Palm Cove, it was bought in 2000 for $4.5 million from Sydney developer John Palasty. The 17-hectare island was previously owned by the late Robert Holmes a Court. The 12 two-bedroom villa resort has been available for rent from about $75,000 a week.  Actor Keanu Reeves ranks among the celebrities who have stayed, with the gymnasium especially built for his stay.
<img src="/images/stories/renown2.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Victor Harbor's Mount Breckan – which in 2010 was tipped to push South Australia's record house price to a new high – has returned to the market with subdued mortgagee expectations. Anthony Toop at Toop and Toop has the baronial 1879 castle for sale with sub-$5 million hopes, with offers due this week. It’s set on 2.4 hectares with harbour views. The property was built in 1881 for state politician Alexander Hay. It last traded 16 years ago at $600,000 and has been restored it to its former glory. 
{yoogallery src=[images/stories/october14coppin]}
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Yarroma (pictured above and below), which set a $3 million record Hawthorn price in 1987, has returned to the market. The Coppin Grove riverfront mansion sits on 2,930 square metres with an adjoining 3,082-square-metre holding owned by the O’Brien family. The historic Victorian mansion surrounded by lavish gardens in the renowned St James Park Estate must be worth about $18 million or so, but it's likely to be sold in two lots following its recent subdivision, with the house fetching about $10 million plus. It’s been listed through Marcus Chiminello at Marshall White Armidale. With elevated city skyline views, it was built in 1872 to a design by James T. Conlan in a Romanesque revival style.
<img style="border-style: initial; border-color: initial;" src="/images/stories/coppin3.jpg">
Manicured lawns adjoin the glassed conservatory housing the heated pool with mosaic inlays. There’s a series of descending terraces that lead to a tennis court, arbours, pathways, a stilted cubby house, fruit trees and vegetable gardens all neatly positioned around bluestone cobbled pathways meandering down to the river banks. The new owners will have the opportunity to construct a cantilevered boatshed and mooring. It didn’t sell on its 2010 RT Edgar listing.
 
<hr class="system-pagebreak">
 
<img src="/images/stories/macleay2.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">James Vaile, from the business advisory company Vaile and Associates, has spent $3 million to buy the two-level Westbourne, Potts Point penthouse (pictured above). It was bought from John Mills and Greg Clark, who paid $3,233,000 in 2007 for the three bedroom, three bathroom 192-square-metre apartment with 93-square-metre balcony built in 2005 by the Lovering development group. It comes with strata levies of about $3,359 a quarter.
The apartment is one of 11 in a low-rise building at the corner of Macleay Street and Rockwell Crescent. It marks a return to the village for Vaile, who previously had a double Wylde Street, Potts Point apartment in Garry Rothwell's first Winten development in the area. It had Darryl Gordon interiors. The apartment was sold in 2006, with one part fetching $3.55 million and the other $2.5 million.
<img src="/images/stories/barambah.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">The 150-year-old Barambah homestead (pictured above and below) – whose renovation was awarded the inaugural 2009 Gabriel Poole Award for Building of the Year – has been listed for November 11 auction by Brisbane stockbroker Steve Wilson and his wife, Jane, through Ray White Rural's veteran agent Lex Heinemann and Danny Bukowski. It’s been the Wilsons’ country abode for 11 years. More than $4 million is being sought. <img src="/images/stories/barambah2.jpg"> 
Established in 1843, Barambah Station was 66,368 hectares (164,000 acres) in the 1800s and is one of the oldest stations in Queensland. After squatters Barambah, the traditional land of the Wakka Wakka, was held by the Sydney merchant Richard “China” Jones in 1850. His son, Thomas Jones, was joined for a few years in the 1870s by George Clapperton, and after them from 1876 Barambah was held by the Moore family for nearly a century. By then the Barambah Hereford Stud was famous, as were the racehorses. After three generations the Moores sold to an English pastoral family, the Vesteys in 1967, then Val Crowe took over in 1973, keen to move his stock up as the new Wivenhoe Dam engulfed his historic Bellevue.  The neighbourhood – within a 90-minute drive from Noosa  – now has other entrepreneurs, notably McCullough Robertson chief Brett Heading and mining magnate Nick Mather.
Barambah Station won the renovation award as the judges viewed it as an exemplar of how issues of heritage and sustainability align. It retains many of the original features including four-metre ceilings and ornate fretwork, and a spectacular hexagon shaped turreted rotunda. There is a restored Cobb and Co coach house and cattle yards. The Wilsons will maintain their nearby award-winning vineyard.
{yoogallery src=[images/stories/october11isabella]}
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Friesia (pictured above), the 1888-built Italian Renaissance-designed Hawthorn house and one of Melbourne’s most captivating residences, has been listed for sale. The single-storey mansion was designed for German consul William Brahe by architect John August Bernard Koch. The Hawthorn house was last traded in 1970 for $49,000 totally derelict. It’s been listed by Kay and Burton agent Scott Patterson, with offers due by November 15. Patterson hopes to secure $6.5 million plus for the property. The residence, inspired by the works of Filippo Brunelleschi, father of Italian Renaissance architecture in Florence, has been listed by Warwick Forge and his wife, Sue, who have been running the biennial Australian Landscape Conference for 10 years.
{yoogallery src=[images/stories/october10neville]}
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Fashion designer Arabella Ramsay secured a bullish $1,805,000 when her Albert Park warehouse conversion (pictured above) went to weekend auction through Marshall White agent Oliver Bruce. It traded at $1.55 million in May of last year, representing annualised capital growth of 11%. It was knocked down to buyers’ advocate Mal James, who had to fend off three other parties during the 20-minute contestant.
<img src="/images/stories/oneoslow.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">Title Tattle aims to tell you as soon as we know – often before it happens –so the word is that mortgage broker John Symond has spent $4.1 million on an Elizabeth Bay apartment (pictured above). The 390-square-metre three bedroom unit is for a family member who has been regularly spotted at local prestige open for inspections and auctions for many months. It comes with terrace garden with park views and a harbour cameo in the Hindmarsh development of nine apartments on Onslow Avenue tucked in between the waterfront and the Macleay Street hub.
Onslow's nine apartments were priced in its initial 2007 market as ranging from $4.8 million to $13 million and range in size from 250 square metres to 410 square metres. The six-level development, designed by PTW Architects' Andrew Andersons, was marketed as featuring interiors by Freedman Rembel. Flooring was a mix of timber, stone and carpet with fireplaces in the living rooms. It had been listed through Ben Stewart of CBRE in conjunction with Jason Boon and Geoff Cox at Richardson and Wrench. The purchase is the second time in the past year that Symond has swooped on a prestige apartment listed at a substantial discount to its initial asking price. The other was a $8.2 million Point Piper penthouse, near his own home on Sydney Harbour.
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">And don’t say that Title Tattle told you, but everyone in Brisbane is talking about the property developer with the large tax bill. About $10 million with interest, it’s been suggested.
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John Symond buys in Elizabeth Bay: Title Tattle

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Brantwood Hall, a block of 13 apartments in Edgecliff, in Sydney’s eastern suburbs, has been listed for October 27 auction.
The New South Head Road listing is under instructions from receivers. It’s tipped to fetch more than $5 million.
The four-floor Art Deco block comes with 12 apartments with one bedroom, living room plus sunroom each totalling about 58 square metres. There is also a three-bedroom penthouse with about 300 square metres of top-floor space including balcony. It has possible strata conversion potential, according to its Ray White Double Bay listing agent Craig Pontey.
Its current gross annual return is $270,000. After renovations with new kitchens in 1986 it was $110,000, reflecting just 3.6% annual growth during the past 25 years.
“The gross annual rental could be improved,” says conjunctional Ray White agent Violet Farebrother.
Woollahra Council rates are $2,058.27 a quarter. The water rates are $1,567.65 a quarter.
Buyers have been given comparables of similar blocks that have been sold recently or provide a good indicator of the market.
<img src="/images/stories/east1.jpg">
83 Oakley Road, North Bondi
Sale Date: July  2011
Sale Price: $2,800,000 (as advised by APM)
Land Area:  493 m2
Equated Market Net Yield: 3.02%
Description:   Improvements incorporate a refurbished block of 4 x two bedroom plus sunroom flats with single garage. Flat areas of approx. 103 m2 each.  Estimated gross annual income of $117,321, which may be dissected as $550 per week for each of the four flats and an additional $50 per week for the single garage. Equated net income of $84,696 per annum. This sale equates to $700,000 per flat or about 3% net yield per annum.
<img src="/images/stories/east2.jpg">
8 Stafford Street, Double Bay
Sale Date: June 2010
Sale Price: $5,275000
Land Area:  428m2
Equated Market Net Yield: 3.26%
Zoning: Residential 2(b)
Description:   Improvements incorporate a similar-type, older style, residential flat building providing 9 x 2 bedroom, strata title units. Gross annual income at time of sale was advised at $226,561 per annum, or an equated net yield of about $172,186 per annum. Our analysis indicates this sale occurred at the rate of about 3.26% net. Total accommodation floor area for the nine units was advised at 543m2 which indicates a sale price at the rate of about $9,714 per m2 of living area.
<img src="/images/stories/east3.jpg">
118 Warners Avenue, Bondi Beach
Sale Date: May 2010
Sale Price: $5,310,000
Land Area:  419 m2
Equated Market Net Yield: 3.64%
Description:   Improvements incorporate a refurbished block of 6 x three bedroom units (approx. 95m2 each) with 3 x open carspaces.  Some units with ocean views. Strata title block. Gross annual rental of $241,800 per annum. DA for conversion to 10 apartments (as advised by selling agent)
<img src="/images/stories/east4.jpg">
124 O’Brien Street, Bondi Junction
Sale Date: November 2009
Sale Price: $2,115,000
Land: 401 m2
Equated Market Net Yield:  3.94%
Description: Improvements incorporate an older style block of 4 x 2 bedroom plus sunroom flats (approx. 80m2 each) and 2 x single lock up garages. Gross annual rental as advised at $85,536 per annum. Under rented. Adopted gross market rental at $104,286 per annum. This sale equates to $528,750 per flat.
<img src="/images/stories/east5.jpg">
5 Salisbury Road, Kensington
Sale Date: May 2010
Sale Price: $4,205,000
Land: 675 m2
Equated Market Net Yield:  3.57%
Description: Improvements incorporate a circa 1960’s/70’s block of 9 x two bedroom units with 9 x lock up garages. Advised gross annual rental at $158,000 per annum. Under-rented. Adopted gross market rental at $187,714 per annum ($400 per week each). This sale equates to $467,222 per flat.
<img src="/images/stories/east6.jpg">
48 Wiley Street, Waverley
Sale Date: May 2010
Sale Price: $2,207,500
Land Area:  326 m2
Equated Market Net Yield: 3.78%
Description:   Improvements incorporate an older style block of 4 x 2 bedroom apartments with DA approval for strata subdivision. Sold with an advised gross annual income of $91,250.  Under-rented. Adopted gross market rental at $104,286 per annum. ($500 per week each). This sale equates to $551,875 per flat.
<img src="/images/stories/east7.jpg">
16 Figtree Avenue, Randwick
Sale Date: June 2009
Sale Price: $2,350,000
Land Area: 487 m2
Equated Market Net Yield:  3.97%
Description: Improvements incorporate a block of 4 x 3 bedroom flats (approx. 89m2 each) with 2 x single lock up garages and car-spaces. Gross annual rental as advised at $99,000 per annum. Under rented. Adopted gross market rental at $116,480 per annum ($560 per week). This sale equates to $587,500 per flat.
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Sydney eastern suburbs blocks attract strata investor interest

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The McGrath Estate Agents franchise team that operates in Sydney’s Lower North Shore has won the Franchise Council of Australia’s national Community Service Award.
The franchise was the only real estate finalist in the awards and was judged alongside all franchise brands in Australia.
Dean Mackie, principal of McGrath’s Neutral Bay/Mosman/Northbridge, accepted the award.
The agency has been involved with or supported at least 14 community groups during the last 12 months: including Cruise for a Cure, Make a Wish Foundation, Middle Harbour Public School, Beat the Blues Concert for the Black Dog Institute, the Australian Cancer Council and the McGrath Foundation.
Separate to company donations and sponsorships, they have raised over $39,000 in their fundraising efforts, which included the Queensland Flood Relief Appeal.
“It is not just making a difference to the foundations, charities and the communities that benefit from our involvement, but to also make a difference with our team,” Mackie says.
“Our team are given an additional two paid annual leave days per year to volunteer with a charity of their choice.”
Chairman of the independent judging panel Professor Andrew Terry says the agency has dedicated a huge amount of time to fundraising for very worthy causes.
John McGrath, CEO of McGrath Estate Agents, says he is particularly proud as this demonstrates “great leadership within our franchise network as well as acknowledgement of their spirit of making a difference in their community”.
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McGrath franchise wins community service award

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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