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The rural sector has been buoyed by the reported $20 million sale of the Ballarat grazing property Trawalla.
It’s a 14-bedroom 1890s homestead along with 4,140 hectares of grazing and cropping land.
Its Elders listing agent Shane McIntyre has confirmed its sale, but declined to comment on the details.
The Australian Financial Review reports it has been bought by the Richmond family from Geelong.
The property, first settled in 1839, had several owners before it was built for Rear Admiral Bridges, who acquired it in 1887 through the marriage of the owners' daughter, Annie Wilson.
Recent reports put spring listings as subdued following good rains and bumper winter crops across much of eastern Australia.
Landmark Harcourt NSW state manager Phil Rourke has suggested listings this spring could be 30% fewer than last spring. It follows a 30% drop in listings of 40 hectares-plus in the first nine months of 2011 compared with 2010.
Property values across Australia’s rural property sector had recently begun to stabilise after nearly three years of value uncertainty, according to Colliers International rural and agribusiness director Phil Schell.
“Despite the fact that major activity is still dominated by distressed asset opportunities more buyers are in the market and more vendors are prepared to meet price expectations,” he says.
“Offshore investors are cashed up and are actively pursuing major asset opportunities of $20 million plus, but domestically it’s a different story.
“Although Australian buyers are showing genuine interest, they are cautious, and the recent debt issues in Europe and the US have only heightened this sentiment.
“Lending is still problematic.
“Buyers in the sub-$10 million market seem to be the most constrained, and this is slowing down market activity.”
Schell says the banks’ lending ratios just don’t seem to reflect buyer confidence.
He notes there has been strong enquiry from overseas funds, including South East Asia, the US, the Middle East and the UK, for opportunities in the beef cattle sector, particularly in northern Australia.
“Chinese investors have interest in large scale grain properties and expanding the opportunity to export oaten hay in to China.
“This is a new market, and interest is high.”
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jchancellor-FAypfDUnLy

Rural property prices stabilising as $20 million sale buoys market

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House prices have risen by 147% but incomes by only 57% over the past decade, according to the recently formed lobby group, Australians for Affordable Housing.
Housing affordability was the single biggest cost of living issue, according the Australians for Affordable Housing’s analysis.
"Housing costs are both the biggest item in household budgets and the fastest increasing cost – having increased 55% over the last six years," AAH spokesperson Sarah Toohey says.
She also noted in the past five years rents have risen at twice the rate of inflation. “Households are paying more than they can afford for housing, with over 740,000 renters and more than 380,000 mortgaged home owners reporting significant financial stress,” Toohey says.
“Despite significant investment in recent years, there is less public and community housing properties now than there was in 2003.
“Housing stress affects renters, first time buyers and home owners.
"The Australian housing system is failing too many people, and successive government policy settings have contributed to this failure,” Toohey says.
"We need strong leadership from the Federal Government to drive the necessary changes at the federal, state and local government levels.
"It’s time for a new approach, to develop a concrete plan to fix the housing crisis,” says Toohey.
The campaign steering committee includes Australian Council of Social Service, Community Housing Federation of Australia, Homelessness Australia, National Shelter, National Association of Tenants Organisations and PowerHousing Australia, a national trade association and business co-operative of growth community housing providers whose aim is to grow the supply of affordable housing in Australia.
The campaign, chaired by Sacred Heart Mission chief Michael Perusco, suggests nearly one in 10 households are in housing stress with a "startling 460,000 households spending more than half of their income on housing costs."
"It’s time to make some noise about housing affordability," <a target="_blank" href="https://housingstressed.org.au/">the website</a> notes.
It urges government action by providing:
<ul>
<li>More low-cost rental housing</li>
<li>More opportunities for low income households to get into home ownership</li>
<li>Better financial assistance for low-income renters</li>
<li>Revised housing investment tax arrangements to put them on a fairer footing with other investments</li>
<li>Options to make home ownership easier for first-home buyers</li>
<li>A clear national plan to deliver affordable housing to all Australians</li>
</ul>
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House price growth outstrips income growth nearly three-fold: Affordable housing group

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{yoogallery src=[images/stories/september19mereworth]}
Historic Berrima farm Mereworth remains listed for sale by the Oxley family.
The 500-hectare property ranks among the most intact Southern Highlands farms, but it is possible to be subdivided before or after sale.
It has $11 million hopes.
It has been held by the pioneering tea-merchant family since it was bought in 1963 after almost 100 years of ownership by the Cowley family.
The nine-bedroom 1964 sandstone house was designed by architect John Amory, with a French provincial feel. Its formal lounge room comes with a baronial fireplace and raked ceilings. Shuttered windows and french doors frame the views of the mature garden, once described by Elwyn Swane as one of the finest by landscaper Paul Sorenson.
The property, with two creeks, 12 dams and seven bores, suits grazing cattle, sheep and horses.
It is listed through Chris Meares from Meares &amp; Associates, who describes it as the best listing since Reg and Joy Grundy paid $15 million for Comfort Hill, the 200-hectare Sutton Forest property from adman-turned-farmer Michael Ball and his wife, Daria, in 2007. Mereworth's occupancy dates back to John Atkinson's 1820 settlement. His brother, James, owned Oldbury at Sutton Forest.
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French Provincial Southern Highlands landholding on the market

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Harcourts has appointed Sadhana Smiles as the chief executive of Harcourts New South Wales following the decision of Chris Stephandellis to relinquish his position.
Her career in real estate management has included positions with McGrath lower north shore in Sydney, Hocking Stuart in Melbourne and the Real Estate Institute of Victoria.
Smiles’ most recent senior management position was been with Real Change, which works with delivering training and recruitment techniques for estate agency businesses.
Smiles was the winner of the 2007 PricewaterhouseCoopers Franchise Woman of the Year award Victorian/Tasmania division while working at Hocking Stuart.
Her appointment was announced by Bryan Thomson, head of real estate operations for Harcourts Australasia.
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Harcourts all Smiles with new appointment

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The Strickland House estate, also known as Carrara, set on the Vaucluse harbourfront in Sydney’s east, seems set for an expanded heritage-listed curtilage.
The Heritage Council of NSW has proposed extending the property’s listing by including a large area adjacent to the Vaucluse Road boundary and Nielsen Park, which has entrance gates, garden, and tiled 1930s Neo-Georgian former dormitories.
Woollahra mayor Isabelle Shapiro has welcomed the move, which comes 21 years after Strickland House’s initial heritage listing.
“I applaud the Heritage Council of NSW for making a commitment to preserve this magnificent site for future generations,” Shapiro says.
“Retaining an appropriate area of land around a heritage item is an important step in protecting the properties heritage value and significance.”
Strickland House is a 1850s marine villa with a largely unaltered landscape setting.
The five-hectare land parcel closely reflects the original subdivision from the land grant made to pioneer settler William Wentworth in the 1830s.
It contains buildings landscaping and other structures relating to the history of the site from Aboriginal ownership through its colonial history as a grand maritime estate to its 20th-century use as a convalescent home and later aged-care facility.
The original Victorian Italianate mansion, Carrara, remains essentially intact, with the two-storey residence constructed of dressed sandstone walls and an attic storey made of timber.
John Hosking substantially developed the grounds of Carrara. Subsequent occupants including Henry Moore and members of the Allen family, leading political figures in the 19th century.
The original villa, Carrara was built in the 1850s in a large landscaped setting, including a strong relationship between the house and the water. The two-storey segmental bay projection is striking and represents a relatively early use of such a feature. The remnants of the sandstone wharf adjacent to Milk Beach contribute to the strength of this association.
The proposal is supported by Woollahra Council, the Woollahra History and Heritage Society, with a final decision not expected for a number of months.
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Strickland House to get expanded heritage curtilage

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<img src="/images/stories/watsons.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Graeme and Kay Kirk from the Kirk Group printing company have relisted their Camp Cove beachfront (pictured above). It was bought for $5.1 million in 2004. The four-bedroom Victoria Street beachfront – now with Elizabeth Luke interiors after its rebuild – has been listed through Elliott Placks at Ray White Double Bay with $8 million plus hopes. More than $8 million was being sought last year with another agent.
<img src="/images/stories/eurekatower.jpg">
<img src="/images/stories/flagtitletat.jpg" style="float: left; margin: 5px;">It could get a bit crowded with estate agents and their buyers in the lift to the upper floors of the Eureka tower (pictured above). Building tycoon Daniel Grollo and wife Kat have listed their Eureka Tower penthouse up for sale with an $8.2 million asking price. It occupies the entire 80th floor in the Southbank tower he built. It’s competing for buyer interest with the penthouse four floors higher. Both have 360-degree views of the city (pictured below) and bay from much of their 660-square-metre space. The Grollo six-bedroom, five-bathroom apartment comes with the option of dividing the floor in half, priced at $4.2 million each. The apartment with eight car spaces has been listed by Brett Jarvis at Hocking Stuart Melbourne.
<img src="/images/stories/eureka2.jpg">
<a target="_blank" href="https://www.propertyobserver.com.au/international/eureka-tower-penthouse-hoped-to-fetch-sky-high-price/2011083051361">The 84th-floor penthouse was listed for sale for more than $13 million last month. </a>The four-bedroom, five-bathroom penthouse in Melbourne’s Eureka Tower is expected to fetch more than $13 million. It features Margie Bromilow interiors.
 
<img src="/images/stories/moule.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Brighton is another location where there's a real battle at the top end. Three of its best homes are competing for record-setting buyers this spring, testing Melbourne's soft prestige property market. Shannagolden (pictured above) is the latest among the three listings. It is the Moule Avenue beachfront home of Gribbles Pathology founder Wallace Cameron and his wife, Joan, with an estimated price of $25 million through JP Dixon.
<a target="_blank" href="https://www.propertyobserver.com.au/victoria/brighton-behemoths-battle-it-out-for-priciest-home-crown/2011081751205">The other two Brighton mansions listed last month where the Salvo family's five-bedroom home in Glyndon Avenue and the landmark Max Beck-built residence Kinane on The Esplanade. </a>They came with price hopes of $20 million.
Set on an elevated 3,903-square-metre block the Moule Avenue property with pool and court last changed hands in 1998 for $5.1 million.
<img src="/images/stories/wolorai.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Plastic surgeon Robert Drielsma has sold his Tony Masters-designed Tamarama house (pictured above). The four-bedroom house last sold for $6.1 million in 2004 when it was bought from Gordon Fell and his wife, Pip. The contemporary, three-level house in Wolaroi Crescent was built after the 501-square-metre block was bought for $1.45 million in 1997.
Bordering the gully reserve of Tamarama Park opposite the beach, the three-level house is set in landscaped gardens designed by William Dangar. The house had been listed with $8 million hopes through Pauline Goodyer of GoodyerDonnelley Real Estate, and Belle Property's David Vereker.
<a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/title-tattle-rafferty-s-place-not-exactly-cheap-as-chips/2011061750528">In April Drielsma and his wife, anaesthetist Debbie Hong, bought Carrabah in Bellevue Hill </a>for $9.85 million. The Drumalbyn Road property was sold by property developer Paul Smith and his wife, Hillary, who remodelled the circa 1930s P&amp;O-style three-level residence after buying it for $4.9 million in 2006.
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">The troubled Sydney Roosters five-eighth Todd Carney, who was recently released from his contract with the NRL club, has spent $607,000 on a Waverley apartment. It was previously traded at $375,000 in 2001. Carney spent $880,000 last year on a two-level Coogee apartment to live in after his return from Canberra. When Title Tattle last looked Carney also owned a Homebush Bay investment unit, which cost $395,000 in 2007.
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">Actor Trevor Ashley, who plays Edna Turnblad in Hairspray, The Musical, has spent $510,000 on a Surry Hills apartment. The sixth-floor Goulburn Street renovated one-bedroom apartment last traded for $185,000 in 1993.
 
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg"> Title Tattle likes to tell you as soon as its happens - if not before - so keep a look out for a prestige St Vincent Place, Albert Park, listing. It seems like only three springs ago the 1892 residence Lynton was up for sale - passed in on a $5.8 million vendor bid at its October 2008 onsite auction.  After the house contents auction, Title Tattle recalls it sold around May 2009 quietly at $4.8 million.
 <img src="/images/stories/coralcove.jpg">
<img style="float: left; margin: 5px;" src="/images/stories/flagtitletat.jpg">And don't say that Title Tattle told you but it seems the buyer of the Lane Cove house of renowned stylist Megan Morton and her husband, Giles, is a little shy in saying what price they paid. The house (pictured above) sold at public auction last weekend through Ray White Lane Cove agent Debbie Jepson, who's now under buyer instructions not to reveal its selling price. Australian Property Monitors and RP Data didn't get the sale price in their Saturday evening ring around.
The Coolaroo Street property had been listed to sell for an ambitious $1.3 million, and Title Tattle gathers the Mortons got their way given bidding came from the seven registered parties. Since buying the property for $890,000 in 2004, the couple have built the pool and renovated the house extensively with lots of Megan's clever design ideas. Title Tattle's spy - disguised as a coral wall feature - advises it was knocked down at $1,312,000 to a well-known buyers agent who was accompanied by an elderly couple, possibly parents of the expatriate who'd presumably spotted the offering on the Ray White website.
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Third Brighton behemoth joins the fray: Title Tattle

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{yoogallery src=[images/stories/september16kalula]}
Kalua, the plantation-style Palm Beach trophy home on Sydney's northern beaches millionaires’ playground, has been listed for sale with record setting $25 million-plus hopes.
It’s best known as having been the prestige Christmas holiday rental for international luminaries including Nicole Kidman, John Cleese and James Murdoch.
The 1920s Ocean Road property has only had the two owners. It was last sold by the Horden retailing family to the more entrepreneurial Joye family, the current vendors, for $330,000.
It’s a five-bedroom, six-bathroom house, three-bedroom guesthouse along with studio cabana, pool and tennis court on its 5,500-square-metre dress circle block overlooking Cabbage Tree Boat Harbour.
It has been listed by Ken Jacobs at Christies International in conjunction with LJ Hooker Palm Beach agent David Edwards.
They have been instructed to sell it offering purchasers the opportunity of taking 60% vendor financing.
"Unquestionably the most significant and coveted landholding in exclusive Palm Beach, Kalua is a beachfront sanctuary of international stature beyond compare," Jacobs says.
"It is secluded amid magnificent sprawling grounds … a once-in-a-lifetime opportunity as one of the eastern seaboard’s most prestigious residential offerings," Edwards adds.
Kalua was one of the first properties in Palm Beach guaranteeing its historical significance. Folklore has it that the Hordern family sent their architect by sea to Oahu, Hawaii, to copy “stick by stick and stone by stone” the impressive Dillingham plantation residence.
It was subsequently named Kalua, meaning “double” in Hawaiian. At the time of construction there were no roads into Palm Beach so all materials, including soil, had to be barged in from Newport.
By coincidence the vendor, businessman Ian Joye now spends much of his time in Hawaii.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/a-rising-tide-lifts-all-luxury-yachts/2011062950650">Palm Beach's top sale was $15 million, when businessman Doug Shears bought a beachfront on the Pittwater side of the peninsula.</a>
Sales of prestige Palm Beach listings have ranged from $4800 per square metre to $13,000 over recent years.
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Hordern family's 1920s Hawaiian hideaway on the market with Palm Beach record-setting hopes

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{yoogallery src=[images/stories/september16rosebay]}
What a perch. A trophy seat looking straight up Sydney Harbour to the bridge. It was where the late Bill Bursill sat and read.
His 1950s house, set further back on the Rose Bay block, has been listed for November auction. More than $16 million is being sought by Wayne Yates from Laing &amp; Simmons Double Bay.
Bursill's family home on Dumaresq Road, Rose Bay, has been listed for November 3 auction.
The family purchased the waterfront land in 1950 when it was being used as tennis courts. The house was built over two blocks, capitalising on its views down the harbour to the Harbour Bridge.
Bursill’s great-grandfather Samuel William was transported for life from England at the age of 17 and after being granted his ticket of leave took up residence in Campbelltown with Bursill’s father, establishing a general store business.
Having been predeceased by his wife, Valerie, Bill died in February this year, the day before his 96th birthday.
The house has been listed by his four children.
In the 1950s Bursill was instrumental in determining the site for a ski village at Thredbo, where his first Bursill Lodge was built out of a giant refrigerator cabinet bought at an Army disposal store. He also had another tourism lodge Rainbow Beach in Queensland, where his lodge, The Mikado, was established when nearby Noosa Heads was just a sleepy hamlet.
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Leisure entrepreneur Bill Bursill's Rose Bay house up for auction

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Sydney’s September auction clearance rate sits at 54% from the 850 auctions held so far among the month’s 2,350 scheduled auctions, but the latest week’s success rate was under 50%.
There are 440 Sydney auctions this weekend, which is 20% fewer than the same Saturday last year, but the same number as in 2009.
There were 300 auctions on the third Saturday in 2008, according to Australian Property Monitors, as the global financial crisis triggered inactivity.
By comparison since 2008 the same Melbourne weekends had 600, 850, 750 and this weekend 650 scheduled auctions, according to APM research analyst Clinton McNabb.
There are 13 weekends remaining for auctions this year and, unless there is a substantial improvement or deterioration, it looks reasonably certain that the year will end with a clearance rate in the 50s.
“For Melbourne the last time this occurred was in 2004, when a clearance rate of 57% was recorded,” says the Real Estate Institute of Victoria’s Enzo Raimondo.
“This is the only similarity with that year, as there will be about 40% more auctions this year.”
Three years ago, in 2008, the clearance rate was marginally higher at 63%, and the volume of auctions similar to what is expected this year, according to the REIV.
The REIV says last weekend Melbourne had 616 auctions and a 54% clearance rate.
There was a close correlation between consumer confidence and housing market activity, according RP Data head of research Tim Lawless.
“The importance of a positive consumer mindset is simple: for a prospective buyer to make a high commitment purchase decision like buying a home they need to have a base line level of optimism about their job security, their ability to service a mortgage and the prospects for the housing market.
“The trend in consumer confidence and national sales volumes has shown an 84% correlation since the start of 2008,” Lawless suggests.
<img src="/images/stories/lawlesssept161.jpg" style="border-style: initial; border-color: initial;">
He says there is also a lagging correlation between mortgage rates and consumer confidence (see graph below) as generally when interest rates are falling consumer confidence will show an improvement and vice versa.
 <img src="/images/stories/lawlesssept162.jpg" style="border-style: initial; border-color: initial;">
Lawless notes the August Westpac and the Melbourne Institute Index is getting close to the lows seen back in late 2008 when the GFC was in full swing.
“The September figure, which came through earlier this week, showed an 8.1% improvement in the confidence index, perhaps marking the turning point for this important indicator,” Lawless says.
“The ‘Time to Buy a Dwelling’ Index, which is a subset of the Consumer Sentiment Index showed a strong bounce over September, improving 14.3% over the quarter and 16.4% over the year.
“This component of the index has bounced back to levels not seen since September 2009, the month prior to interest rates commencing their tightening cycle.
 <img src="/images/stories/lawlesssept163.jpg">
Lawless suggests interest rate stability and the prospect of rates potentially falling may cause confidence to continue to improve.
“If the cash rate does actually come down, as the financial markets and a growing number of economists are expecting may be the case, we may see a more significant improvement in the consumer sentiment data when it is released each month.”
But he warns on balance any significant or swift rise in consumer optimism was likely to be tempered by any further softening in labour market conditions or deterioration in global/local economic conditions.
“Uncertainty surrounding both these factors is likely to continue to provide some counter balance to improvements in the consumer mindset.”
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Auction clearance rates still low, but consumer confidence picking up

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Scrapping stamp duties in favour of a broad-based land tax – as recommended by the Henry Review of tax — could reduce land prices by up to 10%, research by the Australian Housing and Urban Research Institute (AHURI) suggests.
The findings did however suggest that the proposed land tax’s capitalisation into land value reductions would more likely benefit well-to-do repeat home buyers and those with the financial capacity to invest in the higher-value segments of the market, rather than renters and home buyers in need of affordable housing, who will most likely seek to access housing in municipalities where property prices are lower.
The research shows the abolition of stamp duties and its replacement with a broad-based land tax would put downward pressure on land prices, improving affordability and increasing housing market efficiency by lowering the costs of moving.
It suggested it would encourage development of greyfield sites in inner areas where housing pressures are most acute. The institute suggests the tax reforms alone would not solve all the problems surrounding Australian housing affordability, but described them as an important first step.
But the research found that a land tax based on square metre land values would radically change the spatial incidence of the revenue by concentrating the tax burden in the inner ring of business districts and suburbs.
Almost half of the land tax revenue would be raised from land plots within 10 kilometres of the CBD (in the survey’s case of Melbourne), where land was most expensive.
Less than one-third of stamp duty revenue is currently levied from property transactions within the same 10-kilometre ring.
“On the other hand, the tax burden would be lower on the urban fringe where land is comparative cheaper,” senior AHURI researcher Professor Gavin Wood says.
“For example, within the 30- to 40- and 40- to 50-kilometre bands, only 4% of land tax revenue will be raised, as compared to 15% under stamp duties.”
The report acknowledged that the business sector had not been considered in the survey simulations, but it was clear that any redesign of the land tax could place relatively high land tax liabilities on businesses clustered around the CBD.
“It will therefore encourage some relocation and hence more employment opportunities in urban growth corridors, where some businesses can be expected to move,” the report suggests.
Wood presented the findings at the “Improving housing affordability through tax reform” seminar in Sydney yesterday.
“Downward pressure comes from the fact an annually levied land tax is hard to avoid,” Wood says.
“Land is immobile and fixed in supply. So when a broad-based land tax is introduced, potential buyers reduce how much they are willing to pay by the expected value of the land tax liabilities.
“The price of land is thus reduced to the point where the after-tax return is equal to the return on other investments.
“Whereas stamp duty is only payable when a property is purchased, the land tax would make holding on to unused property an expensive exercise.”
The research modelling used 2006 property valuations and sales data in metropolitan Melbourne, with rates and thresholds set to match the revenue lost from abolishing stamp duty, ensuring the reform would be a cost-neutral exercise for state governments.
It found that the expected decline in land value as a result of the proposed land tax would be greatest in the suburbs in and around the CBD, where land is currently most expensive at over $500,000 on average.
“The 10% reduction in average land value will make housing closest to the CBD, where employment sites are concentrated, more affordable for those seeking to locate closer to employment opportunities in the city,” Wood says.
“However, in suburbs further away from the CBD where property prices are typically more affordable for first homebuyers, it was found that the percentage decline in mean land value will be noticeably lower at 6% or below.”
Dr Ian Winter, AHURI's executive director, suggests the reforms would be one step toward restoring some balance and fairness in Australian housing markets.
“Twenty-two per cent of Australians own 55% of the homes across our capital cities," Winter says, "making us not so much a nation of home owners but rather, a nation of landowners and renters.
“There is a very real danger the great Australian dream of home ownership is beyond the means of the current generation'.
AHURI research (Yates 2009) shows median house prices are outstripping borrowing capacity of average workers by more than $250,0000.
“Our current tax settings have rewarded speculative property investment and provided tax shelters at the expense of home ownership,” Winter says.
Present land tax arrangements
<ul>
<li>Land tax is currently only levied on private rental housing and commercial or industrial use property</li>
<li>Owner occupied housing and primary production are exempt from the land tax</li>
<li>Land tax applies to the cumulative unimproved value of land:</li>
<li>Single property owners typically have a small or more often zero tax liability, while multiple property owners have relatively high tax burdens</li>
<li> This results in a contraction in the supply of rental housing</li>
<li> The current setting place a barrier to the attraction of private finance (superannuation funds, for instance)</li>
<li>Recommended land tax arrangements</li>
<li>Tax applied to all land uses except primary production</li>
<li> Tax levied on a per-square-metre basis</li>
<li> Tax calculated per land holding</li>
</ul>
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Swapping stamp duty for land tax would improve affordability: Institute

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.

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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.

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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.

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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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