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<p><span>The Albury-Wodonga region boasts around 110,000 people, enjoying one of the most vibrant cross-state regions combining all the Murray River has to offer and beyond north and </span>south of the New South Wales and Victorian borders, according to the latest Herron Todd White (HTW) residential report. </p>
<div><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></div>
<p>"The drivers of the property market are affordability, access to finance, lifestyle, tourism and the buoyancy or otherwise of the Melbourne property market. Different purchasers behave and benefit accordingly," the valuation firm said. </p>
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<p><span>First home owners have options due to a good supply of existing entry level stock and competitive house and land packages from a range of builders in new suburbs on both sides of the border. </span></p>
<p><span>Similarly the upgrading or relocating family in the region can buy existing stock, build or in many cases buy to occupy and also purchase an investment property, often positively geared, the report noted. </span></p>
<p><span>As the regional property market has proven to be a long game, the downsizers, whether local or relocating, receive the benefit of long term growth and a good choice of lower maintenance homes with room for the van or golf buggy.</span></p>
<p><span>Over the past few years, both Albury City Council and Wodonga City Council have undertaken large scale redevelopment projects aimed at revitalising city centres and involving the community in local events, the idea being that the cross city vibe should be complementary rather than us and them.</span></p>
<p><span>The report notes Wodonga is certainly gaining ground with strong sales activity and good growth as locals and visitors alike tap into the north-east offering. </span></p>
<p><span>"The local outlook is much the same as the attitude of the region, positive, proactive, productive and steadily more diverse. </span>It is all here bar the beach and people tend to focus on the things they can change, which from a property perspective is the ability to move within the market and invest further in the market.</p>
<p><span>"No one external big picture factor dominates as low volatility goes hand in hand with stable markets, however as we reach submission deadline, the </span>effects of the emerging COVID-19 pandemic may reach and influence all drivers of all markets," the valuation firm said. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/4/albury%201.jpg" alt=""></p>
<p>A Californian bungalow inspired townhouse in Albury has recently been sold for $675,000.</p>
<p>The three bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-townhouse-nsw-albury-132951854" target="_blank">692 Jones Street </a>(pictured above). </p>
<p>It features open plan living, dining and kitchen, oak timber flooring and ample storage. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/4/albury%202.jpg" alt=""></p>
<p>A current listing is a 1940s family home located just moments from the Albury CBD.</p>
<p>The <a href="https://www.realestate.com.au/property-house-nsw-albury-133379730" target="_blank">717 Jones Street</a> home (pictured above) has been offered for sale with a price guide of $895,000 - $915,000.</p>
<p>Set on a 1,076sqm allotment, it comprise four bedrooms, formal lounge, renovated kitchen, and separate dining room. </p>
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<p><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></p>
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<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
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<div><span><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></span></div>
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COVID-19 pandemic may influence all drivers of Albury property market: HTW residential 

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<p><span>The two biggest drivers of the Tamworth market at the moment are the historically low interest rates and the drought, which despite recent rain has on-going impacts, according to the latest Herron Todd White (HTW) residential report. </span></p>
<div><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></div>
<p><span> The past few years of drought have put a strain on the town’s water supply which despite recent rain has not increased by any significant amount. After having been on water restrictions for over 12 months, residents are wondering whether or not there is a long term solution for the future with Tamworth’s population expected to hit 100,000 by 2040. </span></p>
<p><span>While there </span>are plans in place with a new dam and pipeline underway, confidence will remain low until these projects are completed. The economic effect of the drought saw less money coming into the property market which resulted in a slow-down, the report noted. </p>
<p>"Tamworth as a whole did not see a decline in property values, but we did see an increase in days on market, where houses that traditionally sold in one to two months were taking three to four," the valuation firm said. </p>
<p><span>The report suggests it is not all doom and gloom for Tamworth as the city still offers plenty of appeal for residents, with strong employment opportunities, relatively cheap housing and good services and amenities available.</span></p>
<p><span> Tamworth is a major regional centre and offers quality schools, good health services and </span>a large pool of employment opportunities with blue collar, white collar and everything in between catered for.</p>
<p>"On top of this, a modern four-bedroom, two-bathroom, brick veneer dwelling can be had for under $400,000 (depending on the suburb), making Tamworth very attractive to those finding themselves priced out of the larger cities," the valuation firm said. </p>
<p>A four bedroom house situated in Tamworth CBD has been listed for sale with $399,000 hopes. </p>
<p>Set on a 656sqm block, the <a href="https://www.realestate.com.au/property-house-nsw-tamworth-127288198" target="_blank">9 Lilly Pilly Court</a> home (pictured below) offers 2 bedrooms, open plan living, and fully fenced backyard. </p>
<p>It is positioned close to schools and shops. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/4/tamworth%201.jpg" alt=""></p>
<p>This combined with recent rain and low interest rates has local agents reporting less days on market for sales and more buyer enquiry than experienced in recent months (prior to the rain). This higher buyer interest has not yet resulted in an increase in house values.</p>
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<p><span>The government’s First Home Super Saver and First Home Loan Deposit schemes have seen first home buyers become more active in the Tamworth market. </span></p>
<p><span>Along with the low interest rates we are seeing more people selling to first home buyers and then upgrading, typically leaving South Tamworth, West Tamworth, Hillvue, Oxley Vale and Westdale and moving to Calala, North and East Tamworth, Moore Creek, Daruka and newer parts of Hillvue.</span></p>
<p><span>A Moore Creek house sitting on a 4,152sqm block was sold for $460,000 in February. </span></p>
<p>The four bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-moore+creek-132683298" target="_blank">30 Barrington Drive</a> (pictured below).</p>
<p><span>It comes with large open plan living areas, covered entertainment area, double garage, and three bay vehicle steel shed. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/4/moore%20creek.jpg" alt=""></span></p>
<p><span>"Increased confidence in the local economy after the recent rain as well as low interest rates suggest that these trends will continue in the short to medium term. This may be thrown completely out of the window with the current COVID-19 pandemic, but excluding this we expect a slight increase in the property market over 2020." </span></p>
<div><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></div>
<div>
<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
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<div><span><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></span></div>
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Tamworth property market sees higher buyer interest: HTW residential 

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<p>Individuals and families who currently have home loans or are looking to get a home loan have the upper hand as the current market conditions are more favourable towards them, according to the latest Herron Todd White (HTW) residential report. </p>
<p><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></p>
<p><span>"The main local drivers that influence the property market in Melbourne’s south-east are overseas and interstate migration, affordable housing and infrastructure spending," the valuation firm said. </span></p>
<p><span>Suburbs located within the City of Casey and Cardinia regions located in the outer south-eastern regions of Melbourne have become popular hotspots over the past few years for young families, first home buyers and newly settling migrants </span>looking to buy or build their first home.</p>
<p>This is typically popular in the newer developing estates where individuals and families are able to customise their homes to cater for their individual needs with the aim of having a family friendly lifestyle, the report noted. </p>
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<p><span>Suburbs such as Officer, Clyde and Botanic Ridge are located within the outer south-eastern region of Melbourne where it is most commonly zoned as an urban growth zone.</span></p>
<p><span>A four bedroom house in Officer has recently been sold for $622,000.</span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-house-vic-officer-133333270" target="_blank">19 Harmony Place</a> home (pictured below) comprises four bedrooms, theatre room, open plan living/dining room and modern kitchen. </p>
<p><span>It is close to schools and Cardinia Train Station. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/4/officer.jpg" alt=""></span></p>
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<p>A contemporary style family home in Botanic Ridge is currently on the market with a price guide of $719,000 to $769,500.</p>
<p>The four bedroom, two bathroom house is situated at <a href="https://www.realestate.com.au/property-house-vic-botanic+ridge-133448782" target="_blank">17 Maintop Ridge </a>(pictured below). </p>
<p>Set on a 661sqm block, the home features central hostess kitchen, study/home office, and rumpus area plus theatre room. </p>
<p> </p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/4/botanic%20ridge.jpg" alt=""></span></p>
<p><span>"The urban growth zones are part of the government’s long term strategic plan of urbanisation and densification for Melbourne’s future designated growth areas. </span></p>
<p><span>"Growth of a community also comes with growth in infrastructure. A local driver such as infrastructure would often be an attractive factor to many as many individuals would be working nearby or would require roads and public transport to travel to work," the valuation firm said. </span></p>
<div><span style="text-decoration: underline;"><em>Notes regards COVID-19</em></span></div>
<div>
<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
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<div><span><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></span></div>
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Outer South East Melbourne - hotspot for first home buyers: HTW residential 

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<p>Frasers Property Limited has announced leadership changes for Australia effective October 1, 2020 when Anthony Boyd (as seen in the main photo) will be appointed as Chief Executive Officer (CEO) of Frasers Property Australia.</p>
<p>Mr Boyd currently serves as Chief Financial Officer at Frasers Property Australia.</p>
<p>As CEO, Mr Boyd will succeed Rod Fehring, who will remain on the board of directors of Frasers Property Australia Pty Limited as the newly appointed Executive Chairmanand will continue to serve as Chairman of the management boards of Frasers Property Industrial and Frasers Property UK. Mr Fehring will succeed Olivier Lim who will step down as non-executive Chairman of Frasers Property Australia Pty Limited and remain as Advisor to the Group.</p>
<p>“Today’s announcement is a further evolution of Frasers Property that highlights our bench strength. Rod has very ably led our Australian business over the last five years. He has played a critical part in the formation of our integrated industrial &amp; logistics platform, which includes asset portfolios in Australia and Europe and provides the asset management services to the newly merged Frasers Logistics &amp; Commercial Trust (“FLCT”). Rod has also been instrumental in establishing our UK platform in close partnership with ourUK leadership,” said Panote Sirivadhanabhakdi, Group Chief Executive Officer (GCEO), Frasers PropertyLimited.</p>
<p>“Over the last two years, Rod and I have discussed the evolution of Frasers Property’s platforms and of his role. With Anthony succeeding him, I am confident of Anthony’s ability and commitment to furtherbuild our business in Australia.”</p>
<p>From October 1, 2020, Mr Fehring will step out of his role as CEO of Frasers Property Australia as part of a planned succession. Rod will continue to provide sponsor oversight of FLCT by continuing to sit on the board of Frasers Logistics &amp; Commercial Asset Management Pte Ltd (the manager of FLCT).</p>
<p>“Leading Frasers Property Australia has been an honour and privilege and I look forward to supporting Frasers Property Group’s continual growth in a different capacity,” said Rod Fehring, CEO, Frasers Property Australia.</p>
<p>Mr Boyd will be responsible for driving the residential, commercial, retail and mixed-use development initiatives in Australia. He will be reporting directly to Mr Sirivadhanabhakdi. Mr Boyd has been with Frasers Property Australia since May 2005. He has held senior finance and residential business unit roles during this time, prior to being appointed CFO in June last year.</p>
<p>“I am excited to lead Frasers Property Australia as we continue to leverage our knowledge and capabilities to deliver value to our customers. Rod has been instrumental in realising the vision for Frasers Property Australia in the last five years and we are grateful for his long-sighted leadership. He will be leaving an indelible legacy and will continue to be an invaluable resource as our Executive Chairman,” said AnthonyBoyd.</p>
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Fraser Property announces leadership changes for Australia effective October 2020

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<p>Allen and John Sammut, two of Sutherland Shire’s best known apartment builders, have secured a $10.25 million off-the-plan sale in their Ozone, Cronulla project.</p>
<p>The 300 sqm plus beachside sub-penthouse secured the highest price ever paid for an apartment in the shire.</p>
<p>With views of the ocean from South Cronulla to North Cronulla beach, the sale was secured by local agent David Highland at Highland Property Group.</p>
<p>There are 38 apartments in the nine-level Ozone St complex that has a 2022 completion date with demolition of the existing dated unit blocks set for coming weeks.</p>
<p>Its two top-floor penthouses had both been sold for $7.5 million, which at that time were records for ­Cronulla in 2018 and then 2019.</p>
<p>The initial penthouse sale was to the Greer family from Taren Point.</p>
<p>The project is being undertaken by brothers Allen and John, in partnership with Rebel Property Group, Ghassy Bayni’s Morehuman and Leda Living, the Ell family company which has felt the impact of the COVID-19 virus more than others in the industry.</p>
<p>Following their late father, Paul, who built 200 prestige abodes, Sammut Developments have undertaken numerous Cronulla residential projects including Drift, Coast, Banc and Breeze since founded in 1993.</p>
<p>Ozone includes a mix of one, two and three-bedroom layouts, with ­remaining apartments ranging in price from $1.1 million to $5.75 ­million.</p>
<p>The previous off-the-plan record price for Cronulla was in the Wavelength development on Gerrale Street for $6.3 million.</p>
<p><em>This article first appeared in </em>The Sunday Telegraph.</p>
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Ozone Cronulla secures record-breaking $10.25 million sub-penthouse sale

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<p><span>The volatility of world equity markets can heavily affect property prices and the general market trends we see in property cycles, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></p>
<p><span>"World recessions such as the Global Financial Crisis, the current global COVID-19 pandemic and domestic natural disasters such as the bushfires that ravaged this country in 2019 and 2020 can have significant economic consequences, especially in the property markets," the valuation firm said. </span></p>
<p><span>One of the major emotional influences that crises have on decision-making is that they </span>create uncertainty in an investor’s mind, the HTW report noted. </p>
<p>Periods of prosperity create confidence and willingness to invest due to the abundance of resources and the ability to create and expand upon what we already have, while crises seem to force individuals to retreat and protect what they own as a natural human response to fear and uncertainty.</p>
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<p><span>In the last year, the wider Melbourne property market has been showing significant signs of growth, prosperity and high clearance rates at auctions, especially in the last quarter of 2019 and early in 2020. </span></p>
<p><span>"Until now, there has been talk about the property market developing momentum, with the interest cuts we saw the RBA make last year and the easing in credit conditions after a lengthy period of speculation following the banking Royal Commission," the valuation firm said. </span></p>
<p><span>The report suggests at present, the property market faces a period of uncertainty as the world is coming to grips with the growing concerns over the Coronavirus. The function of most normal businesses and social practices is halting as the world is battling the virus. This has and will continue to have an impact on the property market.</span></p>
<p><span>"I foresee a limited availability in supply of houses and apartments in the coming months, limiting the opportunity for new home buyers and investors to purchase property. </span>As the government increases restrictions on public gatherings and businesses are likely to work remotely, we will see a decrease in inspections and auctions. This will have a dramatic effect on the marketability of properties.</p>
<p><span>"While the government is enforcing restrictions on businesses, public events and individuals to carry out daily activities, we will see the market recede. </span></p>
<p>"The ideal outcome is that amidst the growing concerns of the virus spreading, vendors and buyers continue to engage in selling and buying properties to continue economic growth. This will keep the economy from flatlining as experts foresee in other industries that are built on face to face contact such as the education, tourism and hospitality sectors," the valuation firm said. </p>
<p>A two bedroom unit in East Melbourne's Ringwood has recently been sold for $550,000.</p>
<p>The <a href="https://www.realestate.com.au/sold/property-unit-vic-ringwood-133400038" target="_blank">3/326-328 Maroondah Highway </a>unit (pictured below) comes with lounge and dining, light kitchen, rear courtyard and single garage. </p>
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<div>It is surrounded by parklands including Mullum Mullum Creek and East Ringwood Reserve. </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/11/ringwood%201.jpg" alt=""></div>
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<div>A three bedroom weatherboard house in Box Hill is currently on the market with $1.5 million to $1.65 million hopes.</div>
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<div>The <a href="https://www.realestate.com.au/property-house-vic-box+hill-133401882" target="_blank">434 Mont Albert Road </a>home (pictured below) comprises three bedrooms, two bathrooms, lounge with open fireplace and double garage. </div>
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<div>It also features Modern Bosch kitchen, front verandah and large back deck. </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/11/box%20hill.jpg" alt=""></div>
<div><span style="text-decoration: underline;"><em> </em></span></div>
<div><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></div>
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<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
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<div><span><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></span></div>
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East Melbourne property market expected to recede during COVID-19 pandemic: HTW residential 

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<p><span>Changes in both monetary and fiscal policy tend to have a more direct impact on the property market in suburbs located in the outer north Melbourne as purchasers in these areas are predominantly first home buyers and local investors, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></p>
<p><span>The HTW report notes most of these purchases are strongly influenced by either changes in first home buyer grants or interest rate changes.</span></p>
<p><span>"Some of the local drivers for the outer northern property market include the availability of more affordable housing and recent infrastructure expenditure", the valuation firm said. </span></p>
<p><span>The commencement of the northern roads upgrade is a notable example of this and has helped to ease congestion in the area, improving buyer sentiment and proving to be a key local driver for demand.</span></p>
<p><span>Recent relaxation of lending since the banking Royal Commission has resulted in young families and first home buyers looking at more affordable dwellings that the outer north offers, the report noted. </span></p>
<p><span>The effect of this appears to have aided in maintaining demand for property in the area as prospective purchasers begin to extend their search further north.</span></p>
<p><span>The report suggests new migrants to Melbourne opting to settle in the outer north also make up a significant portion of first home buyers.</span></p>
<p><span>"Properties below the $600,000 price point appear to do well in the outer north market as there is high demand from first home buyers and investors. High specification dwellings in predominantly first home </span>buyer suburbs tend to remain on the market longer than average and are less sought after," the valuation firm said. </p>
<p>A three bedroom house in Lalor has recently been sold for $590,000.</p>
<p>The <a href="https://www.realestate.com.au/sold/property-house-vic-lalor-133406954" target="_blank">26 Vanessa Avenue</a> house (pictured below) comes with modern kitchen, open plan lounge, renovated bathroom and double garage. </p>
<p>It's located close to train station, buses, schools and shopping. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/11/lalor%20.jpg" alt=""></p>
<p>A current listing is a Bundoora two bedroom unit priced at $487,000 to $535,000.</p>
<p>The <a href="https://www.realestate.com.au/property-unit-vic-bundoora-133481222" target="_blank">1/52 Nickson Street unit</a> (pictured below) features<span> large lounge, spacious kitchen, separate laundry, courtyard, and garden shed.</span></p>
<p><span>The home is situated within close proximity to <span> the Square, park, tram, universities and hospital.</span></span></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/11/bundoora.jpg" alt=""></p>
<div><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></div>
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<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
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<div><span><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></span></div>
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Northern Melbourne sees high demand from first home buyers and investors: HTW residential 

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<p><span>Melbourne’s west has been the nation’s strongest growing region over the past five years, according to a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></p>
<p><span>Data shows that seven of the top ten best performing regions in Victoria are from the west.</span></p>
<p><span>The HTW report suggests population growth and relative affordability are the main driving forces which have caused this strong growth throughout the west.</span></p>
<p><span>"More businesses moving to the area has created many different employment opportunities. There is new infrastructure and new schools and transport options have increased and are improving. These things are only going to keep pushing people to these areas," the valuation firm said. </span></p>
<p><span>Two years ago, families were being beaten out by developers, but times have since changed and it is evident that family buyers have returned to the market. It was becoming unaffordable and now prices have dropped back to an affordable level and buyers are back.</span></p>
<p><span>Families and first home buyers are taking over the market. Young families are coming in and demanding more local schools and people are starting to view the area as affordable and one that has potential.</span></p>
<p><span>"Affordability is obviously a huge factor driving people west. There is a lot of urban revitalisation happening in the inner west," the valuation firm said. </span></p>
<p><span>A two bedroom apartment in Melbourne's inner west suburb Footscray has recently been sold for $352,800.</span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-apartment-vic-footscray-132998038" target="_blank">2/250 Gordon Street </a>home (pictured below) offers two bedrooms spacious lounge, separate kitchen and meals area and fully tiled bathroom. </p>
<p><span>It's within close proximity to public transport, shops and restaurants. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/11/footscray.jpg" alt=""></span></p>
<p><span>A current listing is a three bedroom Yarraville house priced at $900,000 to $990,000.</span></p>
<p>The <a href="https://www.realestate.com.au/property-house-vic-yarraville-133393258" target="_blank">63 Benbow Street</a> home (pictured below) comprises modern kitchen, family living room, large alfresco and rear yard plus double carport. </p>
<p><span>The location is close to primary school, shops, park and freeway. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/11/yarraville.jpg" alt=""></span></p>
<p><span>Housing quality in Melbourne’s west has also </span>improved as there are some nice new homes that are lifting the value, the report noted. </p>
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<p><span>While there was a stigma attached to parts of the west, the schools, transport and new infrastructure on offer are great drawcards.</span></p>
<p><span>"With this all said, it’s difficult to know what lies ahead for Melbourne’s property market in its entirety. </span>It’s still too early to predict the full scale of the long term impact of the Coronavirus, given that the Australian outbreak is in its early stages, but there are two unknowns that could compound any fall in prices: unemployment and the prospect of a looming recession.</p>
<p><span>"Although the threat of Coronavirus is omnipresent, there’s reason to suggest the housing market could be relatively insulated, compared to financial markets." </span></p>
<div><span style="text-decoration: underline;"><em>Notes regards COVID-19</em></span></div>
<div>
<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
</div>
<div><span><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></span></div>
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Affordability drives strong growth in West Melbourne property market: HTW residential

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<p><span>Geelong has entered 2020 with a solid foundation to make sustainable capital growth this year due to a number of market forces drawing people to the region, according a recent Herron Todd White (HTW) residential report. </span></p>
<p><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></p>
<p><span>The final CoreLogic Home Value Index for 2019 revealed a rising rate of growth over the past three months that had pushed the city’s median dwelling value to almost $560,000.</span></p>
<p><span>A waterfront penthouse apartment in Geelong is currently on the market with a price guide of $595,000 to $635,000.</span></p>
<p>The <a href="https://www.realestate.com.au/property-apartment-vic-geelong-133190318" target="_blank">9/50 Eastern Beach Road</a> home (pictured below) comprises two bedrooms with ocean views, balcony, lounge room and light filled kitchen.</p>
<p>It also features updated bathroom and split system heating and cooling.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/11/geelong.jpg" alt=""></p>
<p><span>This rebound in Geelong's property market was </span>brought on by reduced mortgage rates easing borrower serviceability assessments, improved housing affordability and certainty around property tax laws, the HTW report noted. </p>
<p>"Obviously due to its smaller scale than Melbourne, Geelong doesn’t showcase the same kind of employment rates that Melbourne does, however the potential is there. With the region growing fast, employment opportunities will continue to grow in just about every aspect," the valuation firm said. </p>
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<p><span>With this, a number of new primary schools have </span>been introduced to the ever developing surf coast regions such as Armstrong Creek and Warralily.</p>
<p><span>A four bedroom house in Armstrong Creek has recently been sold for $517,000.</span></p>
<p>Set on a 405sqm block, the <a href="https://www.realestate.com.au/sold/property-house-vic-armstrong+creek-133195642" target="_blank">45 Mallaccota Crescent </a>home (pictured below) comes with open plan living, Caeserstone kitchen, and double garage. </p>
<p><span>It's located within proximity to the surf coast, train station and shopping centre. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/11/armstrong%20creek.jpg" alt=""></span></p>
<p><span>"Geelong boasts a number of the factors that make an area stick out as a place with high growth potential," the valuation firm said. </span></p>
<p><span>Some of these factors include large infrastructure projects currently underway, vacancy rates and rental yields that continue to increase and a population that is growing.</span></p>
<p><span>"Like all of Australia, it is uncertain how the COVID-19 pandemic will actually affect the property market. A number of experts have put their views forward with some believing the market and its drivers will remain stable whilst others believe it will impact negatively," the valuation firm said. </span></p>
<div><span style="text-decoration: underline;"><em>Notes on COVID-19</em></span></div>
<div>
<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
</div>
<div><span><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></span></div>
</div>
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Geelong property market remains uncertain during COVID-19 pandemic: HTW residential 

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<p><span>The Sunraysia market is driven by a number of influences, particularly local population growth, employment prospects and interest rates, according to a recent Herron Todd White (HTW) residential report. </span></p>
<div><span>The current COVID-19 epidemic is going to have a negative impact on key drivers, so it will be interesting to see what impact this may have on the property market in the short to medium term, the valuation firm said.</span></div>
<p><span>The HTW report suggests the availability of credit also affects the number of buyers.</span></p>
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<p><span>"Our key horticultural industries have been one of the main drivers of local economic activity. Growers have been busy developing new plantings of table grapes, citrus and almonds, which has had a significant flow on effect through our economy. Our local service and industrial industries have benefited from the stronger confidence," the valuation firm said. </span></p>
<p>"Investors are generally purchasing lower priced properties due to high rental yields and an attractive entry point into the market." </p>
<p>These include older dwellings that have yet to receive any significant recent renovations as well as units that are low maintenance and provide an investor with high rental yields.</p>
<p>A four bedroom house situated close to Mildura CBD was sold for $290,000 in April.</p>
<p>The <a href="https://www.realestate.com.au/sold/property-house-vic-mildura-133248886" target="_blank">2 River Parade</a> home (pictured below) comes with spacious lounge, fully appointed kitchen with adjoining meals area, and rear yard.</p>
<p><span>The rear yard allows for an extension or landscaped gardens. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/11/mildura%20.jpg" alt=""></span></p>
<p><span>Higher priced properties are predominantly purchased by upgraders as well as people downsizing from out of town into large, high end homes but usually with a smaller, easier to maintain allotment.</span></p>
<p><span>A resort-inspired family home in Nichols Point was sold for $900,000 in March. </span></p>
<p>The <a href="https://www.realestate.com.au/sold/property-house-vic-nichols+point-133036758" target="_blank">2 Forrester Court</a> house (pictured below) comes with four bedrooms, gourmet kitchen, vast living spaces, and triple garage. </p>
<p><span>It also features fames room, theatre room, heated pool and tennis court. </span></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/5/11/nichols%20point%201.jpg" alt=""></span></p>
<p><span>"The stronger rural land values over the past three to four years have allowed many retired farmers to be able to afford better standard homes in their retirement than was previously the case," the valuation firm said. </span></p>
<div><span style="text-decoration: underline;"><em>Note regards COVID-19</em></span></div>
<div>
<span><em>This edition of Month In Review had its topic defined in late February with submissions from our offices collated through to late March. During this period, shifts in the social and economic landscape due to COVID-19 became increasingly dramatic, as demonstrated by the varied information provided by offices over the course of three weeks.</em></span><em><br></em>
</div>
<div><span><em>This month’s residential theme on baseline property market drivers remains a common thread, and provides an indication of what influences to monitor as the property sector recovers post-crisis.</em></span></div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Mildura property buyers affected by availability of credit: HTW residential 

<p>Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.</p>

<p>Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.</p>

<p>Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.</p>

<p>[smartcode_project:default project_id=112195 project_image_fid=372638]</p>

<p>The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;</p>

<p>Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.</p>

<p>Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.</p>

<p>[smartcode_project:default project_id=112195 project_image_fid=3286]</p>

<p>Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.</p>

<p>"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.</p>

<p>"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."</p>

<p>The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.</p>

<p>[smartcode_project_cta:default project_id=112195]</p>


Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

<p>Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.</p>

<p>Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.</p>

<p>The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.</p>

<p><a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.</p>

<p>The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.</p>

<p><img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" /></p>

<p>Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.</p>

<p>"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.</p>

<p>The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.</p>

<p>The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.</p>

<p>Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.</p>

<p>Bakir said the project had been designed to respond to that shift in buyer expectations.</p>

<p>"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.</p>

<p>Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.</p>

<p>Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.</p>

<p>Early site works are underway, with construction expected to commence later this year.</p>


Homecorp approved for Budds Beach apartment tower, Lýon Residences

<p>New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.</p>

<p>Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.</p>

<p>Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.</p>

<p>[smartcode_project:default project_id=28384 project_image_fid=3823]</p>

<p>Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.</p>

<p>The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.</p>

<p>"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.</p>

<p>"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."</p>

<p>[smartcode_project:default project_id=28384 project_image_fid=3826]</p>

<p>The rarity of the development hasn't been lost on prospective buyers, McSweeney says.</p>

<p>For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.</p>

<p>"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."</p>

<p>The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe></p>

<p>A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.</p>

<p>The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.</p>

<p>At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.</p>

<p>[smartcode_project:default project_id=28384 project_image_fid=372542]</p>

<p>The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.</p>

<p>Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.</p>

<p>Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.</p>

<p>"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."</p>

<p>Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.</p>

<p>[smartcode_project_cta:default project_id=28384]</p>


North-facing Swan River views drive demand at Rivière Residences in Applecross

<p>Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.</p>

<p>The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.</p>

<p>[smartcode_project:default project_id=143337 project_image_fid=374768]</p>

<p>McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.</p>

<p>"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.</p>

<p>"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."</p>

<p>[smartcode_project:default project_id=143337 project_image_fid=374767]</p>

<p>A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.</p>

<p>The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.</p>

<p>[smartcode_project:default project_id=143337 project_image_fid=374760]</p>

<p>Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.</p>

<p>Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.</p>

<p>"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."</p>

<p>Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.</p>

<p>[smartcode_project:default project_id=143337 project_image_fid=374761]</p>

<p>Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.</p>

<p>"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.</p>

<p>She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.</p>

<p>Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.</p>

<p>Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.</p>

<p>Construction is underway, with completion expected in the second half of 2027.</p>

<p>[smartcode_project_cta:default project_id=143337]</p>


More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

<p>Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.</p>

<p>The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.</p>

<p>"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.</p>

<p>"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”</p>

<p>He said the declaration reflected the rapid progress achieved since acquiring control of the site.</p>

<p>"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."</p>

<p>When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.</p>

<p>"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.</p>

<p>"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."</p>

<p>The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.</p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a></em></p>

<p>The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.</p>

<p>Takada previously said the design was driven by a philosophy of integrating nature into the built environment.</p>

<p>"The concept for this development is born from our design approach to naturalising architecture," Takada said.</p>

<p>"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."</p>

<p>Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.</p>

<p>"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.</p>

<p>The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;</p>

<p>The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.</p>


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