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What advice do you have for a young investor or an investor just starting out?
Buying a property is the single biggest investment most people make in their lives, so it makes sense to take measures to ensure it’s done correctly.
My advice to investors, both new and experienced, is not to assume you know everything. Buying property can be incredibly complex, that’s because not all properties perform the same and there’s no set formula for identifying the standout properties.
Ensure you do your homework, which may include engaging a qualified property professional, such as a property valuer or property adviser, to analyze the historical performance of a property before you purchase it.
Seeking advice from a friend or family member may provide some comfort but despite their best intentions they don’t have the experience or qualifications to assess a property’s suitability to meet your goals. They are also unlikely to have the negotiation and bidding skills to secure the property via private treaty or in the heat of a competitive auction.
Read more of this interview <a href="/news">here</a>.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
 
 
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WBP Property Group Greville Pabst's  advice for young investors

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What has been your biggest investment success?
My greatest success with property investing comes from the purchase of a single fronted Federation brick house in the premier Melbourne suburb <a target="_blank" href="/news">Albert Park</a>.
Situated in one of the suburb’s best streets, between the beach and Albert Park Lake the property is situated on some of the city’s most expensive land. I purchased the property for $241,000 in 1995 and today it is estimated to be worth $1.5 million, in unrenovated condition. This represents an estimated compound growth of 10.29% per annum.
Read more of this interview <a href="/news">here</a>.
news@propertyobserver.com.au
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WBP Property Group Greville Pabst's biggest success

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The ANZ Bank has refunded $70 million to 235,000 home loan customers, with some errors dating as far back as 2003 and leading to the bank to review all its home loan, savings and small business accounts.  
“Part of our ongoing program of work at the moment is to make sure that all of our accounts are performing in accordance with the terms and conditions documents that are out there,” ANZ’s Australian head, Phil Chronican, says.  
“When you discover an issue of this nature, you want to be 100% sure that you haven’t got anything else of that nature in your business, so we’ve been reviewing all of our products.  
“We literally are going through every product, every terms and conditions booklet, and checking the systems against the products <a target="_blank" href="https://www.theage.com.au/business/banking-and-finance/anz-review-after-glitch-forces-70m-in-home-loan-refunds-20140129-31m3z" rel="nofollow">against the terms and conditions</a>.”
This article first appeared on <a target="_blank" href="https://www.startupsmart.com.au/">SmartUpSmart.</a>
 
 
 
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ANZ refunds $70 million to home loan customers after major glitch

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<img src="/images/stories/2014/01/29/Greville-Pabst-profile.jpg" width="125" height="150" alt="Greville-Pabst-profile" style="float: right;">What is your current portfolio? 
In the last 30 years I’ve owned over 25 investment properties comprising residential houses and units, commercial industrial warehouses, mixed use retail and residential and commercial office space.
These properties have been located all around Melbourne including suburbs such as <a target="_blank" href="/news">South Yarra</a>, Albert Park, <a target="_parent" href="/news">St Kilda</a>, <a target="_blank" href="/news">Melbourne</a> CBD, <a target="_blank" href="/news">Footscray</a>, <a target="_blank" href="/news">Seddon</a>, <a target="_blank" href="/news">Hampton</a>, <a target="_blank" href="/news">Malvern</a>, <a target="_blank" href="/news">Yarraville</a> and more.
Included in my list of developments are five development projects, including the WBP Head Office located in North Melbourne and my own private residence located in Melbourne’s bayside.
 
My current portfolio comprises five properties including my bayside residence, a family farm south-west of Geelong in Bambra, Victoria; a Federation house in Albert Park, a one-bedroom flat in Elwood and an office building in North Melbourne.
My investment focus is now on securing quality residential property.
 
What has been your biggest investment success?
My greatest success with property investing comes from the purchase of a single fronted Federation brick house in the premier Melbourne suburb <a href="/news">Albert Park</a>.
Situated in one of the suburb’s best streets, between the beach and Albert Park Lake the property is situated on some of the city’s most expensive land. I purchased the property for $241,000 in 1995 and today it is estimated to be worth $1.5 million, in unrenovated condition. This represents an estimated compound growth of 10.29% per annum.
What has been your biggest investment mistake?
Over the years I’ve bought and sold many investment properties but my biggest investment mistake has been selling the best performing ones. While selling these properties facilitated life changes, including the funding of my current home, and investment in other areas, I recognise the importance of holding great performing property.
Another area in which I have met with difficulties is co-investing – that is, pooling funds with another party to purchase real estate. This can provide difficult for long-term investments due to changes in individual priorities and circumstances, which may provide pressure regarding the timing of a renovation or sale, among other things.
 
What advice do you have for a young investor or an investor just starting out?
Buying a property is the single biggest investment most people make in their lives, so it makes sense to take measures to ensure it’s done correctly.
My advice to investors, both new and experienced, is not to assume you know everything. Buying property can be incredibly complex, that’s because not all properties perform the same and there’s no set formula for identifying the standout properties.
Ensure you do your homework, which may include engaging a qualified property professional, such as a property valuer or property adviser, to analyze the historical performance of a property before you purchase it.
Seeking advice from a friend or family member may provide some comfort but despite their best intentions they don’t have the experience or qualifications to assess a property’s suitability to meet your goals. They are also unlikely to have the negotiation and bidding skills to secure the property via private treaty or in the heat of a competitive auction.
Greville Pabst is CEO of <a target="_blank" rel="nofollow" href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;ved=0CEAQFjAA&amp;url=http%3A%2F%2Fwww.wbpproperty.com%2F&amp;ei=Jb4hUevODOyamQX6mIGYDQ&amp;usg=AFQjCNH0u8Ji9ymluq8AKARfB-KjHZ-aFA&amp;sig2=DNsIKQR7tQj4PtYuiJOHPA&amp;bvm=bv.42553238,d.dGY">WBP Property Group.</a>
 
<hr>
 RELATED ARTICLES
<a href="https://www.propertyobserver.com.au/victoria/expert-view-suburb-spotlight-on-brunswick/2014012367278">Expert view: Suburb spotlight on Brunswick</a> by Greville Pabst
<a href="/news">The advantages of a SMSF</a> by Greville Pabst
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Interview with an expert: WBP Property's Greville Pabst

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We all have a dream house. Some of us live in ours, while others will just have to browse online and daydream until the day they may get the opportunity to either build it or buy it.
Where is your dream home and what does it look like? Here are the dream homes, across the world, from Twitter in our Tweet of the Day.
<blockquote class="twitter-tweet" lang="en">
Dream house!! <a target="_blank" href="https://t.co/BbTXxqXzBz">pic.twitter.com/BbTXxqXzBz</a>
— Djakomo (@djakomoo) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/djakomoo/statuses/425755940747362304">January 21, 2014</a>
</blockquote>
<blockquote class="twitter-tweet" lang="en">
Dream house. <a target="_blank" href="https://t.co/zd53xfHKGc">pic.twitter.com/zd53xfHKGc</a>
— EliGil19 (@Sconnie_Guy19) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/Sconnie_Guy19/statuses/425306689382793216">January 20, 2014</a>
</blockquote>
<blockquote class="twitter-tweet" lang="en">
Dream house. <a target="_blank" href="https://t.co/jInO9t3V3m">pic.twitter.com/jInO9t3V3m</a>
— Pictures of Luxury (@LUXURYPlCTURES) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/LUXURYPlCTURES/statuses/425598918442098688">January 21, 2014</a>
</blockquote>
<blockquote class="twitter-tweet" lang="en">
Unreal dream house. <a target="_blank" href="https://t.co/8BsGVZRLLv">pic.twitter.com/8BsGVZRLLv</a>
— ? What Money Buys ? (@BiIIionaires) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/BiIIionaires/statuses/425027219539656704">January 19, 2014</a>
</blockquote>
<blockquote class="twitter-tweet" lang="en">
I'm completely serious when I say I want the dream house from 13 going on 30 <a target="_blank" href="https://twitter.com/search?q=%23pink&amp;src=hash">#pink</a> <a target="_blank" href="https://t.co/jqF5QT8Z3m">pic.twitter.com/jqF5QT8Z3m</a>
— Ellie Clark (@sparky_clarky3) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/sparky_clarky3/statuses/423145066849263616">January 14, 2014</a>
</blockquote>
<blockquote class="twitter-tweet" lang="en">
Dream house <a target="_blank" href="https://t.co/zKJV6HvTRo">pic.twitter.com/zKJV6HvTRo</a>
— J Wiggs (@JWiggsMusic) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/JWiggsMusic/statuses/422078201452851201">January 11, 2014</a>
</blockquote>
Tweet us your 'dream house' via @propertyobs.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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The dream houses we all want

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The Property Observer team spends more time than most looking at real estate listings, and finding either bizarre rentals (such as this latest one, sent to us on Twitter, that has <a href="https://www.propertyobserver.com.au/new-south-wales/a-toilet-in-the-kitchen-a-strange-unit-layout/2014012067267?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus" target="_blank">a toilet in the kitchen</a>, or this one that was <a href="https://www.propertyobserver.com.au/queensland/advertising-your-property-to-drug-dealers-this-owner-is-doing-just-that/2013111266323" target="_blank">advertised to South Australian drug dealers</a>) or disturbing photographs.
We've collected the following photographs from real estate listings into an ongoing collection of strange Australian real estate marketing attempts. Send your weird and wonderful photographs to <a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a> and we will add them to the collection below.
Here are some of our current highlights:
The 'interesting' lighting effects
<img width="470" height="353" src="/images/stories/2014/01/21/2.jpg" alt="2">
<img width="470" height="353" src="/images/stories/2014/01/21/5.jpg" alt="5">
Apocalypse now?
<img width="470" height="353" src="/images/stories/2014/01/21/bardon_dec_12_sky_end_of_the_world.jpg" alt="bardon_dec_12_sky_end_of_the_world">
Mirror, mirror
<img width="470" height="353" src="/images/stories/2014/01/21/mirror_mirror_jan_21_one.jpg" alt="mirror_mirror_jan_21_one">
Do you come with the house?
<img width="470" height="353" src="/images/stories/2014/01/21/model_dec_3_one_901_480_Riversdale_Road_Hawthorn_East_Vic_3123.jpg" alt="model_dec_3_one_901_480_Riversdale_Road_Hawthorn_East_Vic_3123">
<img width="470" height="353" src="/images/stories/2014/01/21/model_dec_3_two_901_480_Riversdale_Road_Hawthorn_East_Vic_3123.jpg" alt="model_dec_3_two_901_480_Riversdale_Road_Hawthorn_East_Vic_3123">
<img width="470" height="353" alt="image21" src="/images/stories/2013/11/21/image21.jpg">
<img width="470" height="353" src="/images/stories/2014/01/21/wtasons_bay_dec_11_funny.jpg" alt="wtasons_bay_dec_11_funny">
Your move
<img width="470" height="353" src="/images/stories/2013/11/21/unique_nov_21_seven.jpg" alt="unique_nov_21_seven">
You might also be interested in our other articles about <a href="?option=com_googlesearch_cse&amp;q=photography" target="_blank">real estate photography, and some of the creative ways that properties are marketed</a>.
<a href="mailto:news@propertyobserver.com.au" target="_blank">news@propertyobserver.com.au</a>
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The strangest real estate photographs: Add yours to the collection

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Barangaroo has become a topic of excitement for many, particularly those seeing the development slowly build in Sydney. If you've taken the ferry into the city from the Western Sydney direction recently, it's likely you'll have seen the incredibly quick progress being made on the construction site. And, if you haven't, well then there are these Tweets.
<blockquote lang="en" class="twitter-tweet">
Beautiful views of Darling Harbour from the Barangaroo construction site public toilets! <a target="_blank" href="https://t.co/2ChjKXHn">https://t.co/2ChjKXHn</a> <a target="_blank" href="https://twitter.com/search?q=%23sydney&amp;src=hash">#sydney</a> <a target="_blank" href="https://twitter.com/search?q=%23toilet&amp;src=hash">#toilet</a>
— Toilography (@toilography) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/toilography/statuses/196569185512456192">April 29, 2012</a>
</blockquote>
<blockquote lang="en" class="twitter-tweet">
Lightning strikes over Sydney, Australia! We teamed up with <a target="_blank" href="https://twitter.com/Barangaroo">@Barangaroo</a> to share these views <a target="_blank" href="https://t.co/wuT7aTgLK7">https://t.co/wuT7aTgLK7</a> <a target="_blank" href="https://t.co/J3IAL45mvJ">pic.twitter.com/J3IAL45mvJ</a>
— EarthCam (@EarthCam) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/EarthCam/statuses/414047816655204352">December 20, 2013</a>
</blockquote>
<blockquote lang="en" class="twitter-tweet">
Smokey views across <a target="_blank" href="https://twitter.com/Barangaroo">@barangaroo</a> today. <a target="_blank" href="https://t.co/yEWY9shTMz">pic.twitter.com/yEWY9shTMz</a>
— Richard Evans (@balletbloke) <a target="_blank" href="https://www.propertyobserver.com.au/https://twitter.com/balletbloke/statuses/377307205743034368">September 10, 2013</a>
</blockquote>
In 2012, we reported about apartment developments that would<a target="_blank" href="https://www.propertyobserver.com.au/developments/every-apartments-has-harbour-views-as-lend-lease-unveils-two-barangaroo-apartment-blocks/2012112057997"> take full advantage of the Darling Harbour views</a>.
<a target="_blank" href="mailto:news@propertyobserver.com.au">news@propertyobserver.com.au</a>
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A slightly different view of Barangaroo

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Australia is the world capital for property speculation. Australians play property like Monopoly: buying, selling, demolishing, rebuilding, extending, renovating, always with the promise of appreciation on resale. The contribution to GDP of real estate transactions alone is the highest in the world, and three times higher than that in the US.
Around one in seven Australian taxpayers owns one or more investment properties, aided by generous tax concessions. Australia has one of the highest levels of household debt in the OECD due to borrowings for property purchases.
This amounts to what is effectively an infinite demand for property in Australia, exacerbated by a growing global investor market. The resulting competition at sale is the main reason for Australia’s rapidly declining housing affordability. While some (but by no means all) of this activity is creating new dwellings for rent, the rents are increasing too.
Renters last
Renters are the losers in the property game. Not only do they struggle with high rents but tenant protection in Australia is among the weakest in the developed world. This is not coincidental: Australia’s 1.8 million and counting property investors support and are supported by tenancy legislation heavily weighted in favour of landlords. This produces a fundamental lack of security in rental housing.
Australia stands in stark contrast to North American and European countries, which have a range of much stronger tenant protections including rent control and security. As these are nuanced and vary from state to state in all these countries, as well as in Australia, broad comparisons are difficult to make. But a few key points can draw the picture.
In Victoria, rents can be increased every six months with no limit on the amount (though a tenant can appeal to the Victorian Civil and Administrative Tribunal if the amount exceeds similar properties in the same area). In Germany, which is around average for tenant protection in Europe, rent increases are capped at 20% every three years. Landlords who overcharge can be fined.
In Victoria, 60 days is the standard amount of notice required for a tenant to vacate. In Germany the notice requirements vary according to how long the tenant has lived there: three months is the minimum for someone who has lived in the property for less than five years. Six months notice is required for a tenancy between five and eight years; nine months for longer than eight years.
Elderly long term tenants are protected: a landlord has to make a very strong case for their eviction, and is required to pay compensation and/or assist with their relocation.
In Victoria, tenants can be evicted so a property can be sold with vacant possession, which may or may not bring a bit more on the sale price. If the place is bought by another investor the property returns to the rental market some months after the original tenants had to find a new home. In Germany this is illegal: tenanted properties are sold with their tenant in place.
This strong legislation is possible partly because of the role of large landholding institutions in Germany that treat their housing assets as long-term secure investments that provide a steady return. The resulting long leases mean tenants can consider their rented property their home and fit it out accordingly. The tenancy protections supporting this arrangement act as a disincentive to speculators, which in turn reduces demand for investment properties and therefore competition at sale.
When people prefer to rent
The historical and cultural contexts in Australia and Europe are profoundly different of course, but it is useful to reflect on the institutional and legal practices that enable renting one’s home to be the norm.
In contrast to Australia, where land and housing are treated as commodities, the combination of large landholders and strong tenant protections in Europe creates a self-reinforcing cycle that maintains house prices and rents at relatively stable and affordable levels. The resulting security means Europe doesn’t have anything like the stigma against renters that can be found in Australia.
Australia is changing, however. The prohibitive cost of housing for purchase, desire to delay or avoid the burden of housing debt, and simultaneous growth of a footloose, casualised workforce – whether by circumstance or choice – is creating generations of people who prefer to rent.
As cultural attitudes change, the institutions should follow. The potential role of Australian superannuation funds in investing in housing has been avoided for too long: for decades trillions of dollars of workers’ hard-earned have been distributed over a range of investments without alleviating Australia’s crisis of housing affordability.
The super funds are finally reconsidering this position, and so too should Australia’s legal practices adapt. Legislative changes should be made to facilitate significant super fund investment in secure and affordable rental housing, followed by strengthened tenancy protections.
If these changes were coupled with reduction of the tax incentives to small property investors, the market would shift dramatically. But this would require Australian voters to curb their enthusiasm for the property game. What are the chances of that?
 
<hr>
 Kate Shaw is an Australian Research Council (ARC) Future Fellow in Urban Geography and Planning. Her current research focuses on urban renewal in the 21st Century.
 
This article first appeared on <a href="https://theconversation.com/renting-for-life-housing-shift-requires-rethink-of-renters-rights-20538" target="_blank">The Conversation</a>.
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Renters are the losers in the property game: Time to rid the stigma: Academic

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We recently pulled together the most beautiful properties from across the country to ask you to vote on your favourites. So which won the Reader's Choice vote? We share your selections below.
 
ACT
<a href="https://manuka.ljhooker.com.au/FHRFMF" target="_blank">20 Tennyson Crescent, Forrest</a> This large property, on 2,480 square metres, has high ceilings, polished timber floors, and is basically a very elegant home. With five-bedrooms and three-bathrooms, and up for negotiation, it has a number of comforting inclusions.
With a walk-in pantry, two pyrolytic ovens and two dishwashers, it is certainly fit for a lover of cooking. It also has an outdoor kitchen with a stainless steel barbecue and granite benchtops.
It has a saltwater swimming pool with glass fencing, a poolside entertainment deck, a garden studio and a full sized tennis court, making it suitable for outdoor lovers as well. It has a landscaped garden with roses and exotic plants... and a computerised watering system.
It has a library, a conservatory sunroom, a gym and a rumpus room as well as a large double garage.
It last sold in 2003 for $1,862,500, according to RP Data.
{yoogallery src=[images/stories/2013/12/17/for]}
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NSW
<a href="https://www.kenjacobs.com.au/549366/" target="_blank">2/11 Gladswood Gardens, Double Bay</a>
This waterfront beauty at circa 1860 sandstone Gladswood House has traditional architecture combined with contemporary design. The three-bedroom, two-bathroom apartment does actually feel more like a house than anything else.
With three car parks and in a cul-de-sac in Double Bay, it has views of the harbour, and comes with a $4.9 million price tag.
With fireplaces, timber panelling, mosaic tiled ensuite, herringbone parquetry floors and plantation shutters, it's a beautiful residence.
It has a gorgeous balcony, which we can see from the photos, and is one of the most amazing apartments we have seen.
Originally, the house was called Seaford House, before being re-named Glenyarrah and then, finally, taking the title Gladswood House. It was previously on the market from 2008 to 2010, according to RP Data, without achieving a sale.
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NT
<a target="_blank" href="https://www.realestate.com.au/property-house-nt-parap-115156107">1 Jensen Street, Parap</a>
Asking for $2.1 million, this five-bedroom, three-bathroom house is a blend of South East Asian, Inner City, and 'Outback Station' styles. Having won an HIA 2012 Custom Built home over $1 million award, and <a target="_blank" href="https://www.vantagehomes.com.au/portfolio/jensen-street-parap/">built by Vantage homes</a>, it's on a 1,270 square metre block.
It has merbau timber flooring, an alfresco lounge, security gates, intercoms, and a detached self-contained guest suite.
It saw the block sell in 2009 for $600,000.
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QLD
<a href="https://www.propertyobserver.com.au/https://www.mcgrath.com.au/buy/house-isle-of-capri-qld-4217/185857" target="_blank">57 The Corso, Isle Of Capri</a>
With six-bedrooms, six-bathrooms and six lock up garage spaces, this property on the Gold Coast is on 2,197 square metres of land in ‘exotic gardens’.
With hand cut sandstone and Travertine floors, a butler’s pantry, a cold room, a billiards den in a private wing, a theatre, a gym, a Lanai bar, maid’s quarters, a wine cellar, a sauna and heated spa and a lift so you don’t need to walk to get to any of these extras, it certainly has most of the aspects you’d want. It also has a fixed jetty.
The pictures have a heavy holiday feel to them, with design obviously focused around creating the outdoor/indoor feel. It was listed in mid-November.
Any buyer wanting to land this property can expect it to be a multi-million dollar undertaking, with RP Data’s land value section noting $4,100,000 for June 2013.
McGrath notes council rates at $17,666 per annum and water rates at $1,804 per annum.
{yoogallery src=[images/stories/2013/12/04/isl]}
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SA
<a href="https://www.realestate.com.au/property-house-sa-medindie-115594939" target="_blank">7 Myrtles Court, Medindie</a>
This circa 1890 home 'The Myrtles' is a six-bedroom, four-bathroom home on 2,201 square metres of grounds.
The house itself, approximately 878 square metres, includes a great hall, a presidential study, a billiards room, home theatre, powder room, three connecting wine cellars and a separate au pair wing.
Outside includes a tennis court, heated pool and spa, and outdoor kitchen/barbecue area and secure garages for four cars.
It has been the set for film and television productions, including Golden Fiddles, Shine and McLeod's Daughters.
It last sold in 2007 for $3,900,000, having previously been bought in 2006 for $5,200,000.
The property was formerly home to Myles and Cathy Jayne Pearce who clashed with real estate identity Neil Jenman in the past over investigations into their business dealings.
In 2007, in a mortgagee in possession sale, not a single bid was made on the property despite a crowd of 200 showing up,<a href="https://www.adelaidenow.com.au/news/south-australia/myrtles-auction-not-one-bid/story-e6frea83-1111113261218" target="_blank">reported Adelaide Now</a>. 
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TAS
<a target="_blank" href="https://www.realestate.com.au/property-house-tas-taroona-112874195">Address withheld, Taroona</a>
Sadly, the address for this Victorian Italinate mansion has been withheld on this property, however it's too beautiful to not include on the list.
Established in 1893, and built of sandstone, it sits on 6,396 square metres and is named 'Winmarleigh'.
Having been designed by the Tasmanian architect George Fagg, and constructed by owner/builder H.W. Stabb, the listing explains that it's the first time it has been on the market since its purchase by the Chief Justice in 1939.
Including an articulated verandah and vast gardens, the five-bedroom, two-bathroom home includes eight original fireplaces, it also has 14-foot ceilings and a servant's bell system.
Chief Justice John Demetrius Morris and his wife lived in this house and "loved to entertain" notes the Australian Dictionary of Biography.
"As administrator on occasion, he also received at Government House. He mixed equally well with conservative families, intellectual leaders and trade-union officials. He dressed well, had a natural charm and social ease, spoke learnedly and talked with wit," it <a target="_blank" href="https://adb.anu.edu.au/biography/morris-sir-john-demetrius-11172">notes of Morris</a>. He was titled Chief Justice in 1940 aged 38, and from 1944 was appointed Chancellor of the University of Tasmania and Chairman of the State Library Board.
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WA
<a target="_blank" href="https://www.realestate.com.au/property-house-wa-applecross-113693011">51 Canning Beach Road Applecross</a>
With open homes this weekend, this riverfront home has five-bedrooms and four-bathrooms (as well as a powder room), and panoramic views.
An outdoor BBQ entertainment area and a below ground swimming pool complement the views.
Inside, there is a games room and four of the bedrooms have ensuites, the home also comes with a lockup storage area, four-car garage, home office and temperature controlled wine cellar. The Zorzi/Grandwood property is 716.65 square metres with 515.18 square metres of "internal living" and on 949 square metres of land.
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VIC
<a target="_blank" href="https://www.jelliscraig.com.au/property/TEMPLESTOWE-11a-Read-Street/6254435/#.UpZtTicUZ8E">11a Read Street</a>, Templestowe 
With four-bedrooms and six-bathrooms, it's being called the finest offering in Templestowe. With city views, and a french-chateau style, it's a very lavish.
For the type of buyer who has an au pair (and wants them to have their own quarters), and is desirous of a games room (with a bar and cellar), a fully fitted gym with sunken spa and sauna, and fountains, it's certainly not your everyday property.
On 4,005 square metres, and with a solar pool, it's absolutely gorgeous with a frontage that makes you stare. 
{yoogallery src=[images/stories/2013/11/28/tem]}
 
 
 
 
 
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The country's most beautiful homes: The winners

<html><body>Australian Property Monitors (APM) has released a list of auction results in Brisbane for the weekend of December 14. <a target="_blank" rel="nofollow" href="https://www.homepriceguide.com.au/saturday_auction_results/Brisbane.pdf" style="font-size: 14px;">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

APM's Brisbane auction results for December 14 weekend

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

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