<html><body>
The latest CoreLogic RP Data Pain and Gain Report  compares the sale price with purchase price for all homes sold in the most recent quarter and for which there is comprehensive data available.
Note: The report does not cover developer sales.
The central message of the <a href="https://www.corelogic.com.au/news/pain-gain-report-released-for-the-september-2014-quarter" target="_blank" title="Read the Pain and Gain report">Pain &amp; Gain Report</a> is  that owners are more likely to make a profit if they hold the property for a reasonable length of time, especially when the upfront impost of stamp duty and other transaction costs are taken into account.
For example, nationally, 3.3% of sellers made a 100% profit selling within one year of buying and almost passed this mark by half after 10 years of ownership.
In the September quarter last year, 6.5% of sellers in Melbourne made a loss in nominal terms. This was a slight improvement on the 6.6% in the June quarter and a substantial improvement on the 7.4% a year ago.
On a more local basis there are two ways of looking at the data; the proportion of sellers that made a profit and the gross profit made. Obviously the total profit made was higher in the more expensive municipalities. For example the highest profit was recorded in Boroondara at $232 million. By comparison the total profit in Brimbank was $66 million.
The other way of assessing the data looks at the proportion of owners who made a profit. Of municipalities wholly within the metropolitan area Knox topped the list with 98.6%. It was followed by Monash on 97.4%, Casey with 96.6% and both Glen Eira and Whitehorse with 96.4%.
Interestingly this demonstrates that through medium to long-term ownership a profit can be found in more than just the most expensive parts of Melbourne.
Key facts
<ul>
<li>35.7% of sellers made a 100% or higher profit 
</li>
<li>Sellers in Boroondara made the highest total profit of $232 million 
</li>
<li>98.6% of sellers in Knox made a profit</li>
</ul>
</body></html>

rlarocca-zWhvjay44N

Profits can be found in more than just the expensive parts of Melbourne: Robert Larocca

<html><body>
Historically speaking, the performance of last year’s rental market in Melbourne was relatively moderate.
In the last three months of 2014 the median advertised rent for a house in Melbourne increased by a minor 0.3% to $448 per week, the opposite to the -0.3% drop in the unit market.
September’s result is reflective of the broader performance of the rental market over 2014 where low rental growth and low yields persisted.
Over the course of 2014 house rents increased by 2.5% and units increased by 1.9%.
For houses, 2014 was not dissimilar to the past five years. On a annualised basis, rents rose by 2.5% in 2013, 1.3% in 2012, 2.7% in 2011. The only year that recorded a substantially different result was 2010 when rents grew 5.5%.
The unit market recorded similar results.
In many respects the rental market is following the changes in value seen in the ownership market. With the exception of the unit market, the last two years were similar and 2010 saw boom-like conditions.
Similar to the ownership market, the biggest question for 2015 is whether the growth in supply in the unit segment will further moderate advertised rents.
Yields remained low. For both units (4.2%) and houses (3.3%) the yield in Melbourne is the lowest of all capital cities. This does not seem to concern investors who are clearly focused on the longer term prospects for capital gains.
Key facts
<ul>
<li>Median advertised rent for a house in Melbourne $448</li>
<li>Median rent for house rise 2.5% in 2014, units 1.9%</li>
<li>Melbourne yields lowest of all capital cities</li>
</ul>
</body></html>

Yields remain low in Melbourne rental market

<html><body>
The top 10 Melbourne suburbs ranked by growth in house values in 2014 were dominated by some of the cities most expensive suburbs and they were located south of the Yarra.
Overall, the Melbourne housing market produced a near repeat of 2013 with house values rising by 8.4% and units recorded a rise of 1.1% as a result of high levels of supply; particularly in the inner city highrise market.
<a href="/news">Armadale</a>, <a href="/news">Caulfield North</a> and <a href="/news">Kew </a>experienced the highest growth in house values and this is reflective of a number of factors including that the strongest rate of value growth being recorded in the middle and upper segments of the market.
The appearance of <a href="/news">Box Hill</a> in the Top 10 highlights the continual popularity of the group of suburbs around <a href="/news">Balwyn</a> and <a href="/news">Mont Albert</a>. Over the last decade these suburbs have provided the best capital gains for owners. These suburbs have broad appeal for myriad reasons such as close proximity to local amenities such as parks, a range of transport choices, local shopping nodes and accessibility to the central business district.
At a broader level, the fundamentals of the Melbourne property market remain sound. A major contributor to these fundamentals is the positive impact on housing market from supportive monetary policy in the form of a record low interest rate. Furthermore, ongoing strong overseas migration to Victoria and a record high influx of residents moving to the state from the rest of Australia also helps to support housing demand.
House value growth slowed from 3.8% in the September 2014 quarter to just 0.8% over the final quarter of 2014. My big question for the summer and autumn markets is whether this was simply due to higher levels of supply or the start of a softer trend.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/melbourne-property-values-table1.jpg" target="_blank"><img class="aligncenter wp-image-4157 size-full" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/melbourne-property-values-table1.jpg" alt="" width="694" height="586"></a>
</body></html>

South of the Yarra dominates Melbourne's top suburbs for house value growth

<html><body>
According to CoreLogic RP Data, Melbourne now has 52 suburbs with a median house value in excess of $1 million – the data covers the 12 months ending in September.
Melbourne’s most expensive suburb remains <a href="/news">Toorak</a>, with a median house value of $2.92 million. The median sale price, which reflects the prices paid over the last year has for the first time, exceeded $3 million. This indicates a slightly more expensive segment of Toorak has been selling over the last year.
Toorak will clearly be the city’s first $3 million dollar suburb, its just a matter of when.
There are three other suburbs with medians in excess of two million: <a href="/news">Deepdene</a>, <a href="/news">Canterbury</a> and <a href="/news">Kooyong</a>.
From sales volumes perspective, the highest was in <a href="/news">Brighton</a> followed by <a href="/news">Balwyn North</a>, <a href="/news">Kew</a>, <a href="/news">Glen Iris</a> and <a href="/news">Camberwell</a>.
Putting aside the cost, the million dollar suburb that proved the easiest to buy into was Deepdene were 14% of houses sold in the last year. In contrast <a href="/news">Fairfield</a> was a tightly held suburb with only 2.8% of houses selling.
Two new suburbs in the list are <a href="/news">Prahran </a>and <a href="/news">Williamstown</a>. The median value of a house in Williamstown – the second suburb in the west to reach this level was $1,002,000. Prahran’s median for a house is now $1 million.
There are 565 auctions scheduled this week in Melbourne compared to 531 for the same time last year. This is the last week for the year in which there are expected to be a substantial volume of auctions. Until early February next year there will be a small number of auctions weekly, mostly outside of the metropolitan area.
With one week to go this year the auction market has seen more homes sold by more people. The clearance rate for 2014 is likely to be marginally lower, around 68.6%, than 2013 when it was 69.2%. With one week to go there have been 43,298 auctions held, 17.8% more than last year and 29,632 homes selling.
Weeks with over 1,000 auctions used to be a rarity, but with 22 occurring this year they are now a regular feature of the market.
In the private sale market conditions continue to be healthy for sellers. On a citywide basis, the time on market results for houses sold at private sale was stable at 31 days over the last week and vendor discounting was also stable at -5%.
Key data
<ul>
<li>Clearance rate week ending 14 December: 68.6%</li>
<li>Melbourne auctions expected week ending 21 December: 565</li>
<li>Melbourne private sales time on market week ending 14 December: 31 days (houses)</li>
<li>Melbourne vendor discounting market week ending 14 December: -5% (houses)</li>
<li>Listings being prepared for market are 1.3% lower in month ending 14 December (seasonally adjusted)</li>
</ul>
Photo of Chapel Street, Prahran courtesy of Wikimedia Commons.
</body></html>

Prahran joins million dollar club in Victoria: Melbourne auction preview

<html><body>
A preliminary weighted average clearance rate of 65.2% was recorded this week across capital cities compared to 63.7% last week and 65.1% this time last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Capital-City.jpg" rel="wp-prettyPhoto[g4123]"><img src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Capital-City-580x426.jpg" alt="National Auction Comments | Capital City" width="580" height="426"></a>
The market may have cooled since the start of spring but that won’t prevent the overall clearance rate for 2014 exceeding last year. In 2013 the capital cities clearance rate was 66.2% and with one week to go this year it is 67.9%. With the exception of Melbourne and Perth the clearance rate has risen in each capital city. More people have sold more homes at auction this year.
In Sydney a preliminary clearance rate of 71.2% recorded compared to 66.1% last week and 72.2% last year. The Sydney auction market has delivered very good outcomes for sellers this year with a higher clearance rate and number of sales. The clearance rate for 2014 is likely to be close to 74.4%, higher than 72.7% last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Sydney.jpg" rel="wp-prettyPhoto[g4123]"><img class="aligncenter size-large wp-image-4125" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Sydney-580x392.jpg" alt="National Auction Comments | Sydney" width="580" height="392"></a>
In Melbourne a preliminary clearance rate of 65.9% was recorded compared to 66% last week and 64.9% this time last year. The clearance rate for 2014 is likely to be marginally lower, around 68.5%, than 2013 when it was 69.2%.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Melbourne.jpg" rel="wp-prettyPhoto[g4123]"><img class="aligncenter size-large wp-image-4126" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Melbourne-580x390.jpg" alt="National Auction Comments | Melbourne" width="580" height="390"></a>
In Brisbane a preliminary clearance rate of 47.3% was recorded compared to 39.7% last week. The overall clearance rate in Brisbane for 2014 is likely to be 45.8%, higher than 41.5% last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Brisbane.jpg" rel="wp-prettyPhoto[g4123]"><img class="aligncenter size-large wp-image-4127" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Brisbane-580x390.jpg" alt="National Auction Comments | Brisbane" width="580" height="390"></a>
In Adelaide a preliminary clearance rate of 57.5% compared to 56.6% last week. The overall clearance rate for 2014 is likely to be 61.9%, higher than 56.5% last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Adelaide.jpg" rel="wp-prettyPhoto[g4123]"><img class="aligncenter size-large wp-image-4128" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Adelaide-580x384.jpg" alt="National Auction Comments | Adelaide" width="580" height="384"></a>
In Canberra a clearance rate of 59.5% was recorded. The overall clearance rate for 2014 is likely to be 55.9%, higher than 52.3% last year.
In Perth a clearance rate of 33.3% was recorded. The overall clearance rate for 2014 is likely to be 41.1%, lower than 46.5% last year.
</body></html>

Sydney auction market has delivered very good outcomes for sellers this year: National auction wrap

<html><body>
There are 1,324 auctions scheduled this week in Melbourne compared to 1,616 for the same time last year.
The highest volume of auctions will be in Reservoir, which has 33 expected.
Last week was the second largest weekend for auctions in the city's history with 1,733 auctions compared to 1,837 in late October. The clearance rate dropped from 71% to 66%; this comparison between the two almost identical weeks provides a very clear summary of the change in the market over two months.
There are only two weekends for auctions now until Christmas.
On a citywide basis, the time on market results for houses sold at private sale contracted from 32 to 31 days over the last week and vendor discounting eased slightly to -5%.
Key data:
<ul>
<li>Clearance rate week ending 7 December: 66%</li>
<li>Melbourne auctions expected week ending 14 December: 1,324</li>
<li>Melbourne private sales time on market week ending 7 December: 31 days (houses)</li>
<li>Melbourne vendor discounting market week ending 7 December: -5% (houses)</li>
<li>Listings being prepared for market are 0.4% higher in month ending 7 December (seasonally adjusted)</li>
</ul>
</body></html>

Reservoir homes go under the hammer: Melbourne's weekend auction preview

<html><body>
Investment decisions in property are often presented as choices between yield and capital gains. In Melbourne, there is a small selection of suburbs where both objectives can be met; they have above average capital gains and a yield higher than the citywide one.
As past performance is not a guarantee of future performance in the property market these are not suburbs investors should automatically buy into, rather it shows that with some astute property hunting strong investment outcomes may be found.
Over the past decade the compounding annual growth rate for a house in Melbourne was 5.77% and 5.16% for a unit. The gross rental yield over the last year for a house was 3.6% and 4.1% for a unit.
In the unit market there were 34 suburbs that recorded capital growth and with yields in excess of the citywide outcome, and five of those stood out. In the market for houses there were 33 suburbs.
The five standouts in the unit market, predominantly because of reasonable sales volumes providing opportunities for buyers, were <a href="/news">Ferntree Gully</a>, <a href="/news">Brunswick West</a>, <a href="/news">Chelsea</a>, <a href="/news">Mount Martha</a> and <a href="/news">Boronia</a>.
In the market for houses the five that stood out were <a href="/news">Bayswater</a>, <a href="/news">Altona North</a>, Boronia, <a href="/news">Collingwood</a> and <a href="/news">Mooroolbark</a>.
In it interesting to note that many suburbs in the outer eastern suburbs, around the base of Mount Dandenong, have recorded above average yields and capital gains over the past decade.
The other area of Melbourne that has multiple suburbs with good capital gains and yield is in the inner east.
Obviously the skill for an investor is not just finding the right suburb but the right property and that can take time and requires both research and a strong understanding of the local market.
</body></html>

The Melbourne suburbs offering both yields and capital gains

<html><body>
The residential property market differs from suburb to suburb in many different ways.
Some suburbs are tightly held, some are in high demand from buyers and in others, sellers are seeking to capitalise on improved local conditions.
It is in these suburbs that CoreLogic RP Data has recorded a substantial increase in the number of houses listed for sale compared to a year ago.
In undertaking this analysis only those suburbs within a 30 kilometres of the CBD have been considered as outside of this, development suburbs become more prevalent and that affects the outcome. In those suburbs the high rate of listings is a factor of developers’ centralised decision-making as opposed to the individual decisions of 100’s of owners.
The suburb where owners have been seemingly queuing up to sell is <a href="/news">Doncaster</a>.
Compared to a year ago there has been a 41% rise in listings. Over the same time the median sale price has grown by 15.5%, well in excess of the citywide 9.7%. This suggests that sellers have been motivated by high buyer demand.
Second on the list is <a href="/news">Heidelberg Heights</a> with a 33.3% rise in listings. Not unlike Doncaster, sellers have been rewarded for their decision with the median sale price rising by 14%.
Third on the list is <a href="/news">Burwood East </a>where those seeking to sell have increased by 30.9%. It is followed by <a href="/news">Sunshine</a>, <a href="/news">Forest Hill</a>, <a href="/news">Preston</a>, <a href="/news">Parkdale</a>, <a href="/news">Vermont South</a>, <a href="/news">Glen Iris</a> and <a href="/news">Altona North</a>.
The common factor in each case is an above average rise in the median selling price. Now of course there are exceptions to this, for instance <a href="/news">Bayswater</a> has seen a 17% fall in listings and 11.5% rise in the median selling price but the in the majority of circumstances strong local markets encourage owners to sell.
There are 1,570 auctions scheduled this week in Melbourne compared to 1,535 for the same time last year. The highest volume of auctions will be found in <a href="/news">Mount Waverley</a> where there are 26 expected.
The November CoreLogic RP Data November Home Value Index showed that house values fell by 2.8% and unit values fell by 1.5%.
The market in Melbourne clearly slowed in November as volumes rose and the clearance rate dropped resulting in a reduction in property values.
Over the year the Melbourne property market has showed healthy growth. With one month left in 2014 house values have risen by 6.5% and units by 1.6%. Viewed in conjunction with what has been a small rise in transactions compared to last year these results show a moderate and not booming market.
The clearance rate for November was 66.8% and there were 5,722 auctions held with 3,819 selling. This is lower than the 68.2% recorded last year
Volumes look set to remain high until the end of the year and this will be welcomed by buyers, especially as the clearance rate has been edging lower.
On a citywide basis, the time on market results for houses sold at private sale rose from 31 to 32 days over the last week and vendor discounting eased slightly to -4.9%.
Key data
<ul>
<li>Clearance rate week ending 30 November: 63%</li>
<li>Melbourne auctions expected week ending 7 December:  1,570</li>
<li>Melbourne private sales time on market week ending 30 November: 32 days (houses)</li>
<li>Melbourne vendor discounting market week ending 30 November: -4.9% (houses)</li>
<li>Listings being prepared for market are 0.5% higher in month ending 30 November (seasonally adjusted)</li>
</ul>
</body></html>

The suburbs where owners are queuing to sell: Melbourne weekend auction preview

<html><body>
A preliminary weighted average clearance rate of 66.6% was recorded this week across capital cities compared to 65.7% last week and 66.9% this time last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Capital-City.jpg" rel="wp-prettyPhoto[g4065]"><img class="aligncenter size-large wp-image-4066" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Capital-City-580x429.jpg" alt="CoreLogic RP Data auction comments | Capital City" width="580" height="429"></a>
Conditions for buyers at auction are improving as we get closer to Christmas with volumes remaining at historical highs and demand easing, particularly in Melbourne.
In Sydney auction volumes are very high and the number of active buyers seem to be rising in line with supply. A preliminary clearance rate of 75.2% recorded compared to 71.8% last week and 72.7% last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Sydney.jpg" rel="wp-prettyPhoto[g4065]"><img class="aligncenter size-large wp-image-4067" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Sydney-580x393.jpg" alt="CoreLogic RP Data auction comments | Sydney" width="580" height="393"></a>
In Melbourne a preliminary clearance rate of 63.7% was recorded compared to 66.1% last week and 67.9% this time last year. The state election has had no impact on results that are on trend with the mild easing in demand seen over November.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Melbourne.jpg" rel="wp-prettyPhoto[g4065]"><img class="aligncenter size-large wp-image-4068" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Melbourne-580x381.jpg" alt="CoreLogic RP Data auction comments | Melbourne" width="580" height="381"></a>
In Brisbane a preliminary clearance rate of 45.9% was recorded compared to 43.3% last week.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Brisbane.jpg" rel="wp-prettyPhoto[g4065]"><img class="aligncenter size-large wp-image-4069" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Brisbane-580x391.jpg" alt="CoreLogic RP Data auction comments | Brisbane" width="580" height="391"></a>
Adelaide recorded an above trend clearance rate of 66.7% compared to 61.2% last week.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Adelaide.jpg" rel="wp-prettyPhoto[g4065]"><img class="aligncenter size-large wp-image-4070" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141201-Adelaide-580x382.jpg" alt="CoreLogic RP Data auction comments | Adelaide" width="580" height="382"></a>
In Canberra a clearance rate of 63.3% was recorded.
In Perth a clearance rate of 21.7% was recorded.
In Tasmania 8 auction sales were recorded and no homes were passed in.
</body></html>

Conditions for buyers at auction improving: National weekend auction wrap

<html><body>
There are 1,426 auctions scheduled this week in Melbourne compared to 1,598 for the same time last year.
The highest volume of auctions will be in <a href="/news">Reservoir </a>and <a href="/news">Richmond</a>, each are expecting 23 auctions.
The state election may be on this Saturday but it does not have a significant affect on the market, buyers are able to vote and bid with ease as polling places are open from 8am to 6pm.
With only four weeks to go for auctions this year one of the features of the year – more auctions – is clearly apparent. So far this year there have been more homes sold at auction, 26,402, than there was over the whole of 2013. In 2013 there were 25,350 home sold at auction.
On a citywide basis, the time on market results for houses sold at private sale was stable at a very low 31 days over the last week and vendor discounting eased slightly to -4.8%.
Key data
<ul>
<li>Clearance rate week ending 23 November: 66.1%</li>
<li>Melbourne auctions expected week ending 30 November: 1,426</li>
<li>Melbourne private sales time on market week ending 23 November: 31 days (houses)</li>
<li>Melbourne vendor discounting market week ending 23 November: -4.8% (houses)</li>
<li>Listings being prepared for market are 3.5% higher in month ending 23 November (seasonally adjusted)</li>
</ul>
Source: CoreLogic RP Data.
</body></html>

Election no dampener on auction market: Melbourne weekend auction preview

International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

&nbsp;

Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

[smartcode_project:default project_id=106566 project_image_fid=185853]

Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

[smartcode_project:default project_id=106566 project_image_fid=374280]

Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

[smartcode_project:default project_id=106566 project_image_fid=362498]

Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

[smartcode_project_cta:default project_id=106566]

Joel Robinson

SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

&nbsp;

[smartcode_project_cta:default project_id=140818]

Lowe Living set new Melbourne off the plan apartment record

For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.

Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."

Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.

One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.

Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.

[smartcode_project:default project_id=149594 project_image_fid=362614]

While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.

At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.

Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.

[smartcode_project:default project_id=149594 project_image_fid=362633]

"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

[smartcode_project_cta:default project_id=149594]

Hyecorp brings 30 years of Lower North Shore experience to Celine in Chatswood

Burgeoning South East Queensland developer <a href="https://www.apartments.com.au/developers/frank-developments">Frank Developments</a> is continuing to pad out its capital city development pipeline.

The developer, led by Frank Licastro, has its sights set on Kingsford Smith Drive in Hamilton, where it is planning <a href="https://www.apartments.com.au/new-apartments/avela-60-kingsford-smith-drive-albion-qld-4010">AVELA</a>, a 166-apartment development across three towers that tier down from 28 storeys to 19 and 17.

The towers will rise above the iconic Breakfast Creek Hotel.

Frank has brought on Melbourne architecture practice <a href="https://www.apartments.com.au/architects/rob-kennon-architects">Kennon</a> to design the building, conceived as a “defining architectural marker where the airport corridor meets the inner city.”

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="e787c64e-f0a4-4725-891e-e86b40ee5c5c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA.png?VersionId=1ulwuZ9w2vQ2td7v.J2zUI7Ih_DT4Kwz" />

Kennon describes the project as a once-in-a-generation opportunity.

"Positioned at the northern gateway of Brisbane's primary CBD corridor, this project represents a singular moment in the city's urban evolution, one that will not come again," the architecture practice said in the documents submitted to the Brisbane City Council.

"Where the airport and world beyond meets the city, the building will rise as a sculptural landmark, a defining piece of architecture that signals arrival into Brisbane and anchors the connection between the city and the communities to its north."

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="d572bf62-a98d-4847-95d0-889e3d3283e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium.png?VersionId=6.Ax4jBzTbY5ahm55iaMWNR03ODhDQSm" />

The development is centred around owner-occupier apartments, with a mix of two, three and four-bedroom residences designed to capitalise on city and river views.

Four basement levels accommodate resident parking, allowing the podium to prioritise pedestrian activity and public-facing uses like ground-floor retail, a cafe, a&nbsp;neighbourhood grocer, and a public accessible indoor pickleball court and event space.&nbsp;

There will be nearly 2,000 sqm of communal wellness and recreation facilities across three levels.

<img alt="First look: Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway" data-entity-type="file" data-entity-uuid="c5ac3cbf-3c11-4219-89f3-e12d9e0f9ffd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/AVELA%20podium%20A.png?VersionId=_.4zd1HLCKa1s6I_oxkY4NNqX6o3Yevn" />

&nbsp;

Frank Developments has increasingly focused on design-led residential projects across South East Queensland.

AVELA is Licastro's second on Kingsford Smith Drive following <a href="https://www.apartments.com.au/new-apartments/alba-92-kingsford-smith-drive-hamilton-qld-4007">Alba</a>, 85 apartments just down the road. The developer has <a href="https://www.apartments.com.au/new-apartments/mira-61-garfield-terrace-surfers-paradise-qld-4217">MIRA</a> and <a href="https://www.apartments.com.au/new-apartments/myst-burleigh-heads-270-the-esplanade-miami-qld-4220">MYST</a> on the Gold Coast, as well as <a href="https://www.apartments.com.au/new-apartments/murano-teneriffe-37-wyandra-street-new-farm-qld-4005">Murano</a> coming up in Teneriffe and <a href="https://www.apartments.com.au/new-apartments/bel-air-33-oxlade-drive-new-farm-qld-4005">Bel Air in New Farm</a>.

Frank Developments plans sculptural AVELA for Brisbane's Breakfast Creek gateway

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.

Robert Larocca

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News