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There are 1,043 auctions scheduled this week in Melbourne compared to 1,124 for the same time last year.
The highest volume of auctions is in St Kilda with 23 expected, followed by Reservoir with 22 and Kew with 19.
In the auction market the increased volume has shifted the market in favour of buyers with a lower clearance rate resulting from the almost 2,000 auctions held over the past fortnight.
In the private sale market however sellers are seeing a peak in demand with lower days on market and reduced discounting prevalent.
On a city wide basis, the time on market results for houses sold at private sale tightened from 40 days to 37 days over the last week whilst vendor discounting fell from -5.1% to -4.9%.
Key data
•       Clearance rate week ending 12 October: 70%
•       Melbourne auctions expected week ending 19 October: 1,043
•       Melbourne private sales time on market week ending 12 October: 37 days (houses)
•       Melbourne vendor discounting market week ending 12 October: -4.9% (houses)
•       Listings being prepared for market are 4.3 per cent higher in month ending 12 October (seasonally adjusted)
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Melbourne market shifting in favour of buyers: RP Data's weekend auction preview

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A preliminary weighted average clearance rate of 68.7% was recorded this week across capital cities compared to 66.9% last week and 72.5% this time last year.
Volumes are rising and are projected to reach a high in the last week of October in what will be a test for the market.
<img src="/images/2014/10/13/Picture%2036.png" alt="">
Source: RP Data
<img src="/images/2014/10/13/Picture%2037.png" alt="">
Source: RP Data 
In Sydney a preliminary clearance rate of 75.8% was recorded compared to 76.4% last week. It is interesting to note that there have been 43% more auctions this year than was the case last year, remarkably the clearance rate has not been affected.
In Melbourne there was a preliminary clearance rate of 67.2% recorded compared to 69.1% last week and 74% this time last year. This was the 15th week with in excess of 1,000 auctions.
In Brisbane a preliminary clearance rate of 54.2% was recorded compared to 47.4% last week.
Adelaide recorded a clearance rate of 58.7% compared to 53.7% last week.
In Canberra a clearance rate of 56.4% was recorded.
In Perth a clearance rate of 33.3% was recorded.
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Auction volumes projected to reach a high in late October: RP Data's national auction wrap

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There are 992 auctions scheduled this week in Melbourne compared to 1008 for the same time last year (the fourteenth week with over 1,000 auction this year).
The highest volume of auctions will be in Mount Waverly with 19 expected.
After a few weeks where sellers were holding the upper hand, last week showed that they still need to ensure that their sale price expectations are not too high.
While the Melbourne market is healthy, it is recording more moderate growth than in the two previous upswings in 2007 and 2010.
September quarter property values showed that the strongest growth in house values on a suburb basis were in the inner east.
Armadale saw a 25.4% rise over the last year and similar growth was recorded in nearby Malvern East, Glen Iris and Camberwell. It is often the case that in an improving market the most expensive segment records the strongest increase in values.
It was also interesting to note that Fairfield joined its neighbor, Alphington, as a suburb with a median house value of in excess of a million dollars. Buyers who can't afford Mont Albert or Balwyn are gravitating north of the Yarra.
On a city wide basis, the time on market results for houses sold at private sale rose from 39 days to 40 days over the last week while vendor discounting fell from -5.3% to -5.1%.
Key data
<ul>
<li>Clearance rate week ending 5 October: 69.1%</li>
<li>Melbourne auctions expected week ending 12 October: 992</li>
<li>Melbourne private sales time on market week ending 5 October: 40 days (houses)</li>
<li>Melbourne vendor discounting market week ending 5 October: -5.1% (houses)</li>
<li>Listings being prepared for market are 3.9% higher in month ending 5 October (seasonally adjusted)</li>
</ul>
 
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Melbourne buyers head north of the Yarra: RP Data's weekend auction preview

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With the vast majority of homes sold in the last financial year now settled, it is possible to calculate some of the key numbers in the Ballarat market.
Over the year a total of $639 million was spent on houses in the City of Ballarat and $68 million on units across 1,942 house sales and 281 unit sales. There were 12 million dollar house sales – the median value of a house was $301,001. The median house value rose by 7.1% compared to 7.9% in Melbourne
Largest growth in median house values by suburb:
<ul>
<li>Golden Point</li>
<li>Soldiers Hill</li>
<li>Black Hill</li>
<li>Redan</li>
<li>Mount Pleasant</li>
</ul>
Most house sales by suburb
<ul>
<li>Wendouree</li>
<li>Sebastopol</li>
<li>Alfredton</li>
<li>Ballarat East</li>
<li>Delacombe</li>
</ul>
Most expensive suburbs by median house values
<ul>
<li> Lake Wendouree</li>
<li>Lake Gardens</li>
<li>Invermay Park</li>
<li>Mount Helen</li>
<li>Buninyong</li>
</ul>
Most affordable suburbs by median house values
<ul>
<li>Sebastopol</li>
<li>Wendouree</li>
<li>Redan Mount Pleasant</li>
<li>Ballarat East</li>
</ul>
Highest spend on houses
<ul>
<li>Alfredton ($64 million)</li>
<li>Wendouree ($48 million)</li>
<li>Sebastopol ($42 million)</li>
<li>Ballarat Central ($41 million)</li>
<li>Lake Wendouree ($40 million)</li>
</ul>
Suburbs with million dollar house sales
<ul>
<li>Lake Wendouree</li>
<li>Ballarat Central</li>
<li>Newington</li>
</ul>
Suburbs with the highest proportion of houses advertised for sale:
<ul>
<li>Ballarat Central</li>
<li>Miners Rest</li>
<li>Alfredton</li>
<li>Mount Clear</li>
<li>Newington</li>
</ul>
 
 
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Top 5 for Ballarat residential real estate sales during 2013-2014 financial year

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There are 72 auctions scheduled this week in Melbourne compared to 92 for the same time last year.
Auction numbers are low this week due to the AFL Grand Final.
Conditions in the private sale market are becoming more competitive with homes taking fewer days to sell and a lower vendor discount.
Recent data shows that all of the top 10 suburbs when ranked by time on market are in the eastern suburbs. Rowville had the lowest number of days on market followed by Blackburn North, Croydon, Wantirna South and Vermont South.
On a city wide basis the time on market results for houses sold at private sale fell from 44 days to 41 days over the last week whilst vendor discounting fell from -5.4 per cent to -5.2 per cent.
Key data
<ul>
<li>Clearance rate week ending 28 September:72.1%</li>
<li>Melbourne auctions expected week ending 28 September: 72</li>
<li>Melbourne private sales time on market week ending 21 September: 41 days (houses)</li>
<li>Melbourne vendor discounting market week ending 21 September: -5.2% (houses)</li>
<li>Listings being prepared for market are 2% higher in month ending 21 September (seasonally adjusted)</li>
</ul>
 
 
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Sellers steer clear of Grand Final day: RP Data's weekend auction preview

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A preliminary weighted average clearance rate of 69.2% was recorded this week across capital cities compared to 72.3% last week and 73.1% this time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Capital-city.jpg" rel="wp-prettyPhoto[g3739]"><img class="aligncenter size-large wp-image-3740" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Capital-city-580x428.jpg" alt="RP Data auction review | Capital cities" width="580" height="428"></a>
The capital cities auction market has clearly lifted since winter, primarily due to strong demand in Sydney and to a lessor extent Melbourne.
In Sydney a preliminary clearance rate of 76.9% was recorded compared to 78.4% last week. Volumes continue to rise and are expected to double the lows of winter soon thereby increasing choice for buyers.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Sydney.jpg" rel="wp-prettyPhoto[g3739]"><img class="aligncenter size-large wp-image-3741" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Sydney-580x380.jpg" alt="RP Data auction review | Sydney" width="580" height="380"></a>
In Melbourne there was a preliminary clearance rate of 69.3% recorded compared to 73.4% last week. Spring has started strongly but it is worth noting that due to significant rises in stock levels the auction market shifted towards buyers this time last year after the Grand Final.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Melbourne.jpg" rel="wp-prettyPhoto[g3739]"><img class="aligncenter size-large wp-image-3742" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Melbourne-580x382.jpg" alt="RP Data auction review | Melbourne" width="580" height="382"></a>
In Brisbane a preliminary clearance rate of 41.4% was recorded compared to 48.2% last week. The low clearance rate compared to the larger capital cities masks the improvement, a 75% rise in homes sold at auction, compared to two years ago.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Brisbane.jpg" rel="wp-prettyPhoto[g3739]"><img class="aligncenter size-large wp-image-3743" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Brisbane-580x386.jpg" alt="RP Data auction review | Brisbane" width="580" height="386"></a>
Adelaide recorded a clearance rate of 69.1% compared to 64.3% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Adelaide.jpg" rel="wp-prettyPhoto[g3739]"><img class="aligncenter size-large wp-image-3744" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140929-Adelaide-580x382.jpg" alt="RP Data auction review | Adelaide" width="580" height="382"></a>
In Canberra a clearance rate of 57.8% was recorded and in Perth there was a clearance rate of 52%.
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National clearance rate of 69.2%: RP Data's auction wrap

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There are 1,090 auctions scheduled this week in Melbourne compared to 984 for the same time last year. 
The highest volume of auctions this week is in <a href="/news">Reservoir</a> with 24 expected followed by 23 in <a href="/news">Hawthorn </a>and 22 in <a href="/news">Brighton</a>.
Last week was the 12th time this year where in excess of 1,000 auctions were recorded; the highest for year was 1,510 in mid April. In 2013 there were 11 weeks with more than 1,000 auctions and in 2012 there was four.
Given an increase in auctions as a popular mechanism for selling, the prevalence of 1,000 plus auctions each week is much higher than ever before, making weeks of 1,500 plus a more significant indicator of confidence from vendors. There were four weeks with more than 1,500 auctions last year, all after the AFL Grand Final. There is no reason this won’t be repeated this year.
Time on market results for houses sold at private sale fell from 45 days to 44 days over the last week whilst vendor discounting fell from -5.6% to -5.4%.
Key data
<ul>
<li>Clearance rate week ending 14 September: 73.4% 
</li>
<li>Melbourne auctions expected week ending 21 September: 1,090 
</li>
<li>Melbourne private sales time on market week ending 14 September: 44 days (houses) 
</li>
<li>Melbourne vendor discounting market week ending 14 September: -5.4% (houses) 
</li>
<li>Listings being prepared for market are 0.4% higher in month ending 14 September (seasonally adjusted)</li>
</ul>
With a vast majority of homes sold in the last financial year now settled, it is possible to calculate some of the key numbers in the Melbourne market.
<ul>
<li>Suburbs with the lowest number of house sales: <a href="/news">Narre Warren East</a>, <a href="/news">Gilderoy</a>, <a href="/news">Sherbrooke</a>, <a href="/news">Tremont </a>and <a href="/news">Gruyere</a>. Each only recorded one sale 
</li>
<li>Suburbs with the biggest spend by house buyers; <a href="/news">Brighton </a>($805m), <a href="/news">Glen Waverley</a> ($613m), <a href="/news">Kew</a> ($592m), <a href="/news">Toorak </a>($576m) and <a href="/news">Balwyn North</a> ($502m) 
</li>
<li>Suburbs with the biggest spend by apartment buyers; <a href="/news">Melbourne </a>($649m), <a href="/news">Southbank </a>($378m), <a href="/news">South Yarra</a> ($353m), <a href="/news">Docklands </a>($346m) and <a href="/news">Brighton </a>($307m) 
</li>
<li>Suburb with the most house sales over $2m, <a href="/news">Brighton </a>with 147 
</li>
<li>Suburbs with the largest house blocks sold; <a href="/news">Park Orchards</a>, <a href="/news">Belgrave South</a>, <a href="/news">Kalorama</a>, <a href="/news">The Patch</a> and <a href="/news">Sassafras</a> 
</li>
<li>Suburbs with the largest increase in sale price for houses: <a href="/news">Ashburton</a>, <a href="/news">Balwyn North</a>, <a href="/news">Fairfield</a>, <a href="/news">Kew East</a> and <a href="/news">Balwyn</a> 
</li>
<li>Municipalities with the largest increase in sale price for houses: Monash, Glen Eira, Manningham, Whitehorse and Yarra 
</li>
<li>Municipalities with the least increase in sale price for houses: Hume, Cardinia, Mornington Peninsula, Nillumbik and Brimbank 
</li>
<li>Suburbs with the least increase in median advertised rents for houses: <a href="/news">Brighton</a>, <a href="/news">South Melbourne</a>, <a href="/news">Middle Park</a>, <a href="/news">Sandringham </a>and <a href="/news">Armadale</a> 
</li>
<li>Suburbs with the largest increase in median advertised rents for houses: <a href="/news">Balwyn</a>, <a href="/news">Caulfield South</a>, <a href="/news">Fitzroy North</a>, <a href="/news">Beaumaris </a>and <a href="/news">Carlton</a> 
</li>
<li>Suburbs with the highest proportion of houses advertised for sale: <a href="/news">Mount Eliza</a>, <a href="/news">Taylors Hill</a>, <a href="/news">Point Cook</a>, <a href="/news">Pakenham </a>and <a href="/news">Mount Martha</a>
</li>
</ul>
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Melbourne gears up for 1,000 plus auctions: RP Data's weekend preview

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A preliminary weighted average clearance rate of 70.8% was recorded this week across capital cities compared to 74.1% last week and 72% this time last year.
This week will have added to the already substantial growth in auction volumes this year across capital cities. Prior to this week there had been 61,056 auctions in capital cities,33.6% more than the 45,696 held over the same time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Capital-city.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter wp-image-3715 size-large" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Capital-city-580x434.jpg" alt="RP Data auction comment | Capital Cities" width="580" height="434"></a>
In Sydney a preliminary clearance rate of 78.3% was recorded compared to 80.1% last week. Last week was only the fifth time in the past five years a clearance rate of over 80% was achieved and this week has returned a similar result.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Sydney.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter size-large wp-image-3716" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Sydney-580x391.jpg" alt="RP Data auction comment | Sydney" width="580" height="391"></a>
In Melbourne there was a preliminary clearance rate of 70.5% recorded on the first week with over 1,000 auctions for the spring season compared to 76.6% last week. Higher volumes have translated into more sales, so far this year there have been five homes sold at auction for every four last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-melbourne.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter size-large wp-image-3717" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-melbourne-580x389.jpg" alt="RP Data auction comment | Melbourne" width="580" height="389"></a>
In Brisbane a preliminary clearance rate of 49.4% was recorded compared to 44.7% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-brisbane.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter size-large wp-image-3718" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-brisbane-580x384.jpg" alt="RP Data auction comment | Brisbane" width="580" height="384"></a>
Adelaide recorded a clearance rate of 62.7% compared to 68.8% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Adelaide.jpg" rel="wp-prettyPhoto[g3714]"><img class="aligncenter size-large wp-image-3719" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140915-Adelaide-580x392.jpg" alt="RP Data auction comment | Adelaide" width="580" height="392"></a>
In Canberra a clearance rate of 52% was recorded and in Perth there was a clearance rate of 43.8%.
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Capital city auctions deliver healthy returns: RP Data's national auction wrap

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The August RP Data CoreLogic Home Value Indices results released this month show a rise in dwelling values of 0.8% in Melbourne and a 7.6% rise this year.
A detailed review of the market shows that the most expensive segment of the market, (25% most expensive houses), recorded the highest value growth this year.
This segment of the market will be interesting to follow this spring and over summer as there is a strong correlation with the performance of the auction market.
In the first eight months values rose by 9.6% compared to 8.7% for the middle of the market, and 3.7% for the most affordable segment.
All segments of the market for houses have outperformed the unit market with the exception of the most affordable segment. Values of the most affordable 25% of the unit market have grown by 4.4% this year compared to 3.7% for houses.
A longer term view of the market, comparing its performances since the last peak in values, reveals a slightly different picture. Values for houses in the most expensive and middle segments of the market peaked in October 2010. Since that time it is the middle of this market that has seen the strongest increase in values of 9.8% compared to 7% for the most expensive segment.
Given most of the people selling will have bought their homes before 2010, it is this longer-term view that is more relevant.
There are 927 auctions scheduled this week in Melbourne compared to 975 for the same time last year. The highest number of auctions is expected in the <a href="/news">Prahran</a> where 19 are scheduled.
As the market enters spring there are fewer homes on the market than a year ago with 28,988 active listings in Melbourne and 54,619 in Victoria. 12 months ago the comparable number was 32,454 in Melbourne and 58,664 in Victoria. This is a positive sign as it highlights a more active market with more buyers.
The extent that this translates into higher prices will depend in many ways on the volume of new listings. Thankfully for buyers the number of homes being newly listed for sale is rising compared to last year.
Time on market results for houses sold at private sale fell from 47 days to 45 days over the last week whilst vendor discounting rose from -5.3% to -5.6%.
Key data
<ul>
<li>Clearance rate week ending 7 September: 73.5%</li>
<li>Melbourne auctions expected week ending 14 September: 927</li>
<li>Melbourne private sales time on market week ending 7 September: 45 days (houses)</li>
<li>Melbourne vendor discounting market week ending 7 September: -5.6% (houses)</li>
<li>Listings being prepared for market are -1.1% lower in month ending 7 September (seasonally adjusted)</li>
</ul>
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Melbourne's most expensive houses record largest value growth: RP Data's weekend auction preview

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A preliminary weighted average clearance rate of 74.4% was recorded this week across capital cities compared to 72.9% last week and 74.9% this time last year.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Capital-city.jpg" rel="wp-prettyPhoto[g3692]"><img class="aligncenter size-large wp-image-3697" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Capital-city-580x431.jpg" alt="RP Data auction review | Capital cities" width="580" height="431"></a>
Results across capital cities this week, especially Sydney, provide a clear indication that this will be good spring for sellers.
In Sydney a preliminary clearance rate of 82.4% was recorded compared to 79.9% last week. Clearances around 80% in Sydney indicate a high level of competition and confidence from buyers.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Sydney.jpg" rel="wp-prettyPhoto[g3692]"><img class="aligncenter size-large wp-image-3696" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Sydney-580x381.jpg" alt="RP Data auction review | Sydney" width="580" height="381"></a>
In Melbourne this spring is shaping as a better one than last year with more homes being listed and sold as both sellers and buyers are confident of a good outcome. There was a preliminary clearance rate of 75.1% recorded compared to 73.5% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Melbourne.jpg" rel="wp-prettyPhoto[g3692]"><img class="aligncenter size-large wp-image-3695" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Melbourne-580x378.jpg" alt="RP Data auction review | Melbourne" width="580" height="378"></a>
In Brisbane a preliminary clearance rate of 49.4% was recorded compared to 46.8% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Brisbane.jpg" rel="wp-prettyPhoto[g3692]"><img class="aligncenter size-large wp-image-3694" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Brisbane-580x384.jpg" alt="RP Data auction review | Brisbane" width="580" height="384"></a>
Adelaide recorded a clearance rate of 70.2% compared to 64.9% last week.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Adelaide.jpg" rel="wp-prettyPhoto[g3692]"><img class="aligncenter size-large wp-image-3693" src="https://blog.rpdata.com/wp-content/uploads/2014/09/20140908-Adelaide-580x383.jpg" alt="RP Data auction review | Adelaide" width="580" height="383"></a>
In Canberra a clearance rate of 55.6% was recorded and in Perth there was a clearance rate of 28.6%.
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Spring market off to a flyer: RP Data's national auction wrap

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.

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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.

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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

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