<html><body>
A palatial Mosman mansion listed with a guide of $23 million last year has been sold.
Michael Coombs of LJ Avnu had three offers of more than $20 million in its final days of listing.
It was the first big-ticket deal of 2020 when sold by dentist Daniel Adamo and his wife, former recruitment boss Katie.
TheY bought the property in 2008 for $7.55 million.
Architect Susan Rothwell design THE six-bedroom, six-bathroom residence with interiors by Leanne Smeallie and Siobhan Rothwell.
The estate comes with formal and informal living areas, a separate guest suite, internal lift, games room, tennis court, pool, gymnasium and basement garaging for six cars.
</body></html>

j.ballantyne1990-6AQqhLzZaK

2020's first $20 million plus home sale secured in Mosman

<html><body>
<div>
Capital city auctions kicked off strongly over the weekend after the extended holiday season break.
Sydney's success rate sat at 80 percent, with Melbourne close behind on 75 percent.
Volumes were higher across all markets with the exception of Adelaide where the number of auctions held was lower, and Canberra where activity remained steady, CoreLogic said.
<div title="Page 1">
<div>
<div>
<div>
Sydney was the busiest auction market with 428 auctions.
There were 401 Melbourne homes taken to auction.
</div>
</div>
</div>
</div>
</div>
Kevin Brogan, at Core­Logic, is tipping continued price growth after clearance rates and home values picked towards the end of 2019.
The weekend results suggest that knocks to consumer confidence from bushfires and the coronavirus crisis are not impacting the residential auction market.
There were 205 Sydney results captured with 165 sold, according to CoreLogic.
There were 246 Melbourne results captured with 185 sold.
The highest confirmed residential sale in Sydney was <a href="https://www.belleproperty.com/listings/870238/5-trouve-street-lane-cove-nsw-2066/" target="_blank">5 Trouve Street, Lane Cove</a>, a four bedroom, two bathroom house which sold for $3,165,000 through Belle.
The 530 sqm building block cost $892,000 in 2008.
There was a $3.35 million pre-auction sale of <a href="https://www.mcgrath.com.au/14-bennett-street-curl-curl-nsw-2096-for-sale-426365" target="_blank">14 Bennett Street, Curl Curl</a> through McGrath.
The five bedroom, three bathroom house, built in 2012, came with initial $2.9 million price guidance.
There were more expensive listings in Mosman and Northbridge that failed to find buyers.
Sydney auction numbers will increase again next weekend with over 500 homes set to go under the hammer.
Cooley Auctions auctioneer Damien Cooley told Domain the average number of Sydney auction registered bidders was six, well up on last year.
The highest known number of bidders was at Wentworthville, in Sydney’s west, where Ray White Parramatta agents and brothers Amit and Ritesh Nayak attracted 43 registered bidders to <a href="https://www.raywhite.com/nsw/wentworthville/2237830/" target="_blank">53 Dorothy Street</a>, a four bedroom home that sold for $1.460 million under the hammer. 
"The Sydney weekend auction hasn’t missed a beat roaring into 2020 with yet another boomtime auction clearance rate - taking off where it left off in 2019," Dr Andrew Wilson from My Housing Market.
<div title="Page 1">
<div>
<div>
<div>
Capital city auction activity ramped up with 1,122 homes taken to auction over the week, with volumes almost doubling on last week’s 625 auctions.
The higher volumes over the week returned a national preliminary auction clearance rate just short of 70 percent.
"As the remaining results are collected the final clearance rate is expected to revise lower, however it’s likely to come in higher than last weeks’ final clearance rate of 61 percent," Brogan advised.
<div title="Page 1">
<div>
<div>
<div>
"Comparing results to one year ago, when housing values were falling and auction markets were much weaker, both volumes and clearance rate are now higher," Brogan said. 
This time last year saw 928 capital city homes auctioned with just over half sold.
Domain advised there was a $1,150,000 Sydney median auction sale.
It was $800,000 in Canberra; $760,000 in Melbourne and $695,500 in Adelaide.
The highest advised residential sale in Melbourne was <a href="https://www.realestate.com.au/sold/property-house-vic-port+melbourne-132716818" target="_blank">80 Ross Street, Port Melbourne</a>, a church ready for residential conversion on a 350 sqm holding which sold for $2,190,000 through Greg Hocking Holdsworth.
The price guidance had been $1.85 million to $1.95 million.
<div title="Page 1">
<div>
<div>
<div>
Melbourne had the cheapest sale among the capitals with $310,000 paid for <a href="https://www.propertyobserver.com.au/https://www.stockdaleleggo.com.au/gladstonepark/property/12723821" target="_blank">4/58 Sharps Road, Tullamarine</a> through Stockdale &amp; Leggo.
It last sold at $262,500 in 2015.
The price guide had been $289,000 to $309,000.
Melbourne auction numbers will continue to rise with well over 600 homes set to be auctioned next weekend.
<div title="Page 1">
<div>
<div>
<div>
There was a 77 success rate at auction in Canberra, the second highest preliminary clearance rate across all capital cities.
Only 36 percent of homes sold at auction in Brisbane.
Brisbane's sales included an original 1900s Queenslander at<a href="https://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1LIdvBfsGulFkc0J2xgzYhhd8FmmR3ZNqvDg0gLJOxm+tNaBRWZzhpZGy8lNntt9pCC6+hjffqg6KAPL7oC66cdHAQ17h5gjqzgCqxkzaD2H&amp;rh=ff0059b0fa66e4951abc1dfbee418c74bb6eec6a" target="_blank" rel="noopener noreferrer"> </a><a href="https://www.propertyobserver.com.au/https://raywhitewilston.com.au/properties/residential-for-sale/qld/windsor-4030/house/2236510" target="_blank">23 Sixth Avenue, Windsor</a> sold for $1.165 million through Ray White agent Alistair Macmillian. 
The vendor paid $1.02 million last May "and they did nothing to it."
Developers looked at the site but the buyers were a young couple.
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

Sydney auctions kick off 2020 with 80 percent success rate

<html><body>
Celebrity fitness trainer Michelle Bridges has sold her Potts Point apartment in a hush hush off market sale.
The luxury Macleay Street abode with city and harbour views sold late last year — but has yet to settle.
It is tipped to have fetched $6 million-plus, a huge windfall for Bridges, who held the property in her own name only.
Bridges has a Southern Highlands retreat overlooking the rolling hills at Kangaloon.
The Potts Point Pomeroy apartment was bought with then business manager and then-husband Bill Moore in 2013 just as the five-year Sydney property boom began, costing them $2.9 million.
Bridges and Moore snapped it up at below its 2010 sale price of $3.2 million, when it was sold by prominent Sydney interior designers Marco Meneguzzi and Michael Love.
The apartment was transferred into Bridges’ name in 2016 after her relationship with Moore ended.
Bridges spent $2.7 million in 2017 on a Southern Highlands weekender, Summerside, a 4.1ha estate featuring a five-bedroom homestead amid Michael Bligh gardens.
</body></html>

Fitness trainer Michelle Bridges sells Pomeroy, Potts Point apartment

<html><body>
An Elizabeth Vale, SA mortgagee home has been sold for $182,000, $7,000 less than what it last traded for.
The property last sold for $189,000 in 2014.
Ken Loft of Harcourts marketed the property at <a href="https://www.realestate.com.au/sold/property-house-sa-elizabeth+vale-132542198" target="_blank">19 Trembath Road</a>.
The three bedroom, two bathroom house located opposite the Lyell McEwin Hospital sold at auction.
Set on 759 sqm, the home was built in 1961.
The listing notes, "some renovations/repairs are required."
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a house in <a href="https://www.realestate.com.au/sold/property-house-sa-elizabeth+vale-132542198" target="_blank">Elizabeth Vale</a> is $273,500, according to CoreLogic data.
</body></html>

Elizabeth Vale, SA mortgagee home sold for minor loss

<html><body>
Minister for Better Regulation Kevin Anderson today announced that recruitment is underway for an expert team to deliver on the NSW government’s building reform agenda.
Minister Anderson said the recruitment process within the Office of the NSW Building Commissioner will commence with the hiring of a new Transformation Management team.
With a workforce comprising of up to 15 operational staff, the Transformation Management team will be exclusively dedicated to the delivery of the Government’s six building reform pillars.
“Last year we recruited NSW Building Commissioner David Chandler to overhaul the building and construction industry. Now we’re at the stage we can build our capacity by hiring experienced professionals to support the Commissioners plan and deliver the reforms efficiently and effectively under his leadership,” Mr Anderson said.
In addition to the Transformation Management team, the Minister announced the phased delivery of up to 60 new roles responsible for the implementation and operation of the new auditing, registration and design lodgement functions.
Mr Anderson said, "we are also making progress on the risk ratings tool, which aggregates builder, designer, certifier and developer data to create a risk and compliance profile for each project." 
“Once the risky players are identified, we will ensure the right staff are in place to assist the Building Commissioner in exercising proposed powers to audit any development,” he concluded.
</body></html>

NSW government now hiring for building reform agenda

<html><body>
GUEST OBSERVATION
A total of 6718 electric vehicles were sold in Australia in 2019. That’s <a href="https://www.smh.com.au/politics/federal/sharp-jump-in-electric-vehicle-sales-underscores-untapped-potential-20200202-p53wx3" target="_blank">three times</a> as many as in 2018, but it’s still small beer. More than <a href="/news">a million</a> fossil-fueled light vehicles (including SUVs and utes) were sold in the same period.
The sales figures were published in the wake of UK Prime Minister Boris Johnson’s <a href="https://www.bbc.com/news/science-environment-51366123" target="_blank">announcement</a> that sales of petrol or diesel cars will be banned in the UK by 2035. The UK’s isn’t the only right-of-centre government to see the benefits of going electric — in 2016, New Zealand’s Conservative party introduced a wide-ranging program to encourage drivers to get off fossil fuels.
If Australia wants to head in the same direction, we can learn from what others have done.
Why should we go electric? And why don’t we?
The main argument for electric vehicles is often about cutting greenhouse gas emissions. But even leaving those aside, there are plenty of reasons to move away from oil as an energy source for transport, among them energy security, better health outcomes, and spending less money on petrol imports.
Australians have been slow to adopt electric cars, however. Our <a href="https://theconversation.com/australias-electric-car-revolution-wont-happen-automatically-90442" target="_blank">previous research</a> indicates the top two reasons are the fear of not being able to find a fast recharger on long trips (“range anxiety”), and the higher purchase price of electric cars.
Obstacles are clearing
Range anxiety should be on the decline. Fast rechargers are <a href="https://myelectriccar.com.au/charge-stations-in-australia/" target="_blank">beginning to be installed</a> on major routes and higher capacity batteries are increasing vehicle range. In any case, the average distance travelled by Australians is just <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/9208.0" target="_blank">34.5km per day</a>.
Prices for electric vehicles are also on the way down. Bloomberg has <a href="https://www.bloomberg.com/opinion/articles/2019-04-12/electric-vehicle-battery-shrinks-and-so-does-the-total-cost" target="_blank">predicted</a> that larger electric and fossil-fueled cars will cost about the same in Europe as soon as 2022.
Even when upfront costs for electric vehicles are higher, ongoing costs are generally much lower. An average Australian car travels 12,600 kilometres in a year, consuming <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/9208.0" target="_blank">1360.8 litres of fuel</a> at a cost of about A$2,000 (assuming fuel costs $1.50 per litre). For a typical electric car, the same amount of travel would cost $250 if recharging using off-peak electricity (assuming it costs 11 cents per kilowatt hour), or $567 if recharging with more expensive electricity (at 25 cents per kilowatt hour).
Lessons from New Zealand
In 2016, New Zealand’s Conservative transport minister Simon Bridges introduced a <a href="https://www.transport.govt.nz/multi-modal/climatechange/electric-vehicles/" target="_blank">suite of policies</a> to encourage electric, especially for passenger vehicles. Since then, electric vehicle sales have been doubling every 12 months.
In 2019, <a href="https://www.transport.govt.nz/mot-resources/vehicle-fleet-statistics/monthly-electric-and-hybrid-light-vehicle-registrations/" target="_blank">6545 light electric vehicles</a> were brought into New Zealand and registered for the first time. That’s not far off Australia’s tally, but in a population of 5 million compared to Australia’s 25 million.
So what did the Conservatives do to encourage motorists to go electric? They took advice from the experts and introduced a <a href="https://www.transport.govt.nz/multi-modal/climatechange/electric-vehicles/" target="_blank">multi-faceted group of measures</a>.
These included: exemption from the Road User Charge, worth about $600 per year; government procurement programs; installing a public recharging network; investment in a five-year promotional campaign including TV ads, online information and “ride and drive” events. They also established a leadership group across business and government and a funding scheme to encourage organisations to go electric.
In NZ they have just about thought of everything, even ensuring there is a facility to <a href="https://www.transport.govt.nz/multi-modal/climatechange/electric-vehicles/" target="_blank">recycle old batteries</a>.
But possibly the most important factor has been that the government has enabled imports of high-quality secondhand electric cars from Japan. In 2019 they accounted for more than half of electric vehicle sales (4155 used compared to 2390 new).
This measure enables motorists with lower budgets to buy electric vehicles. Our unpublished research shows electric vehicles have been especially popular with multicar families who use their EVs as much as possible as it’s so much cheaper than using petrol or diesel. When those happy customers tell their friends and family about how much better it is to drive electric, it’s an important feedback loop that helps people overcome their fear of change.
Maybe it’s time Australia took a “Leaf” out of the Kiwi book and got on board with some sensible policies and legislation to speed up the transition to electric cars.<img src="https://counter.theconversation.com/content/131372/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
<a href="https://theconversation.com/profiles/gail-broadbent-421704" target="_blank">Gail Broadbent</a>, PhD candidate Faculty of Science UNSW, <a href="https://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a> and <a href="https://theconversation.com/profiles/graciela-metternicht-159393" target="_blank">Graciela Metternicht</a>, Professor of Environmental Geography, School of Biological Earth and Environmental Sciences, <a href="https://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/electric-car-sales-tripled-last-year-heres-what-we-can-do-to-keep-them-growing-131372" target="_blank">original article</a>.
</body></html>

Electric car sales tripled last year. Here's what we can do to keep them growing

<html><body>
GUEST OBSERVATION
The private rental sector has expanded at <a href="/news">more than twice the rate</a> of the increase in Australian households in the last two decades. This <a href="https://www.tandfonline.com/doi/abs/10.1080/14036096.2018.1467964" target="_blank">increasingly diverse form of tenure</a> now houses about <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Lookup/by%20Subject/4130.0%7E2017-18%7EMedia%20Release%7EMore%20households%20renting%20as%20home%20ownership%20falls%20(Media%20Release)%7E10" target="_blank">one in four of us</a>.
Australia’s <a href="/news">lightly regulated private rental sector</a> means the <a href="https://www.propertyobserver.com.au/https://journals.sagepub.com/doi/abs/10.1177/1440783317707833?journalCode=josb" target="_blank">insecurity of tenants</a> is a key factor in why most Australians <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/story-streams/federal-budget-2017/2017-05-07/housing-affordability-australia-statistics-federal-budget-2017/8502106" target="_blank">aspire to own their home</a>. However, despite this insecurity, our <a href="https://www.tandfonline.com/doi/abs/10.1080/14036096.2018.1467964" target="_blank">research</a> suggests an increase in people choosing to <a href="https://www.tandfonline.com/doi/full/10.1080/02673037.2017.1301400" target="_blank">rent for a long time</a> – ten years or more – accounts for a small part of the growth in private renters.
Much of this growth is attributable to <a href="/news">middle- and high-income tenants</a>. Especially in Melbourne and Sydney, <a href="https://localgovernmentandhousingproject.files.wordpress.com/2018/09/iuhf-journal-summer2018_alan_morris.pdf" target="_blank">high housing prices</a> mean saving for a deposit takes much <a href="https://neo.ubs.com/shared/d1ZatPa3iM8ech/" target="_blank">longer than in the 1990s</a>. In the meantime these households are renting <a href="https://www.tandfonline.com/doi/full/10.1080/02673037.2017.1301400" target="_blank">for a long time</a>.
‘Who stays put, loses’
In our survey of 600 private renters in different areas of Sydney and Melbourne, we asked: “Many people are renting privately for longer periods (10+ years). Do you think this is a positive trend?”
About a third responded in mainly positive terms. Their main reasons were:
1. renting is more affordable than ownin
2. there are fewer worries and liabilities
3. renting is more flexible than owning.
Some questioned the <a href="https://www.tandfonline.com/doi/full/10.1080/14036096.2018.1467964" target="_blank">norm of home ownership in Australia</a>.
For a more in-depth understanding, we interviewed 60 long-term private renters in low, medium and high-rent areas in Melbourne and Sydney. Almost all who chose to rent mentioned flexibility as a key advantage.
“Choosers” highly valued the freedom to move or travel at will. Zygmunt Bauman’s concept of <a href="https://www.wiley.com/en-us/Liquid+Modernity-p-9780745624099" target="_blank">liquid modernity</a> highlights the increasing desire for transience. As he <a href="https://books.google.com.au/books?id=zZwvv3tQ1UYC&amp;pg=PT95&amp;lpg=PT95&amp;dq=Transience+has+replaced+durability&amp;source=bl&amp;ots=VbuUO62ZhV&amp;sig=ACfU3U32LtxCmjxJfboinOrMwt706zkAVw&amp;hl=en&amp;sa=X&amp;ved=2ahUKEwjP4_qby7vnAhXwwzgGHYJXDagQ6AEwAHoECAYQAQ#v=onepage&amp;q=Transience%20has%20replaced%20durability&amp;f=false" target="_blank">explains</a>:
Transience has replaced durability at the top of the value table. What is valued today (by choice as much as by unchosen necessity) is the ability to be on the move, to travel light and at short notice. Power is measured by the speed with which responsibilities can be escaped. Who accelerates, wins; who stays put, loses.
Renters in their own words
Patricia*, who lives in a high-rent part of Melbourne, has always rented.
Well since I came to Australia in 1977, I rented. I didn’t want to buy. Got close [to buying] a couple of times, but changed my mind.
I just travel anywhere and everywhere. I thought […] if you’ve got a house you’re stuck there, and I thought, no. I work hard for my money, so that money that I work hard for is for me, not to have a [permanent] roof over my head. […] Renting has been good for me because I can still do what I want.
Myra lives in a studio apartment in a high-rent area in Sydney and has no desire to own a home. She is single, in her mid- to late 30s, and earns well. The possibility of being asked to vacate did not bother her.
Maybe I’ve been lucky, but every situation has always sorted itself out. You know a lot of people would have freaked out if they had to move out […] It didn’t concern me in the slightest, yeah. I mean not at all. There’s always somewhere to stay. So it suits my lifestyle. I wouldn’t want to buy [a property], even if I had the money.
Leanne inherited a third of a house. Rather than using the proceeds to buy a property, she decided to move to Melbourne’s inner city (a high-rent area) and continue renting.
So I thought rather than put money into a house […] I would invest it and I could travel and go to concerts and live the life I wanted to lead, so that’s basically what I did and I’m still renting.
Pam was renting in a low-rent area in outer Sydney. She felt her situation required the flexibility of renting:
The relationship was rocky and you can’t predict the future, but I knew it wasn’t going to end up in marriage and kids and all that kind of crap […] We were both working, both earning good money and we could have afforded to buy a house between us […] But for me it was like, no. I don’t know where this [her relationship] is going, so no way, I’m not going to put myself in that predicament [having a joint mortgage] and then have to go through court to go, “This is mine, this is yours”, all that crap. But so it was my choice to rent and to stick to it […] I’m not going to rely on anybody else for anything, no way.
Her renter status allowed Pam to make a rapid, clean break.
I just got up one day and walked cos I knew he was going to ask me to marry him the next day, so I said: “I’m just going to go to the shops to get a packet of cigarettes.” I left everything behind. I went for a walk, never went home.
For the families with children who choose to rent long-term, the key reason is it allows them to live in highly desirable areas where they cannot afford to buy. Gabrielle and her partner earn well and live in a high-rent area in Sydney:
Sure it [home ownership] provides you with security and you don’t have that stress of […] having to move. I get that, but at the same time, you know for us, for example, if we wanted to buy we’d be paying four times what we pay at the moment in a mortgage […] It doesn’t really make financial sense to go and do that […] You’d have to live somewhere. So I choose to live in a nice area where my children are [at school].
They also did not want the burden of a large mortgage:
[…] I have no desire to put myself in a position where I have a $2 million mortgage and have to work for the rest of my short life to pay for it […]
Although probably only a small proportion of people choose to rent long-term, this option may be gaining ground. Young, well-paid professionals in particular see the flexibility of private renting as attractive.
Location also seems to be a critical factor. Most of the choosers rented in desirable inner suburbs of Sydney and Melbourne, which would otherwise be inaccessible. An estimated <a href="https://www.tandfonline.com/doi/full/10.1080/02673037.2014.925097" target="_blank">one-in-eight private renters</a> are “rentvestors” who rent where they want to live and buy elsewhere to get a foothold in the housing market.
*All names used are pseudonyms.<img src="https://counter.theconversation.com/content/130696/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
<a href="https://theconversation.com/profiles/alan-morris-13337" target="_blank">Alan Morris</a>, Research Professor, <a href="https://theconversation.com/institutions/university-of-technology-sydney-936" target="_blank">University of Technology Sydney</a>; <a href="https://theconversation.com/profiles/hal-pawson-147969">Hal Pawson</a>, Associate Director - City Futures - Urban Policy and Strategy, City Futures Research Centre, Housing Policy and Practice, <a href="https://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>, and <a href="https://theconversation.com/profiles/kath-hulse-228874" target="_blank">Kath Hulse</a>, Research Professor, Centre for Urban Transitions, <a href="https://theconversation.com/institutions/swinburne-university-of-technology-767" target="_blank">Swinburne University of Technology</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/i-wouldnt-want-to-buy-even-if-i-had-the-money-the-rise-of-renters-by-choice-130696" target="_blank">original article</a>.
</body></html>

'I wouldn’t want to buy even if I had the money.' The rise of renters by choice

<html><body>
The five-bedroom family home on the Round Drive, Avoca Beach has been sold for $1,650,000. 
The 1,244 sqm property was listed by George Brand Real Estate's Matthew Ellis. 
Situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-avoca+beach-132316950" target="_blank">231 The Round Drive, Avoca Beach</a>, the house has high ceilings and a level floor plan that is wheelchair accessible.
There is a master suite with a unobstructed view of the lake and is complete wot ensuite and walk-in robe.
The lakefront home has an open plan kitchen with stone surfaces, gas stovetop, bi-fold servers windows which transition to the BBQ area and an island bench for casual gatherings. 
The house is newly renovated and has a self-contained guest quarter, with its own bathroom, built-in wardrobe and large Velux windows. 
The home is of close proximity to the Avoca Beach, and has its own indoor pool for year-round enjoyment or swim school potential. 
There is also under house storage for bikes, surfboards, or kayaks, and a double garage parking offering internal access. 
It was built in 1970.
 
 
</body></html>

Lakefront family home in Avoca Beach sold 

<html><body>
A three bedroom house in Hunters Hill has sold at auction for $2,300,000. 
The 670 sqm block was listed by Bresic Whitney estate agents, Nicholas McEvoy and Nacelle Scott. 
Situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-hunters+hill-132766646" target="_blank">1 Manning Road</a>, he home features north facing open plan living areas, with a master ensuite with a built in robe, and three bathrooms.
<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/2020/2/2_DINING.jpg" alt="">
The double brick home with sandstone features is set in leafy greenery. 
The house has a modern marble kitchen with gas that is adjacent to the indoor dining area.
The lounging area has access to a paved patio, and covered outdoor entertaining space.
On the lower level, there is a garage, cellar and a workshop. 
The home is of walking distance to bus stops, schools, village shops, and the Tarban Creek Reserve.  
It last sold for $1.43 million in 2007. 
</body></html>

Sandstone home in Hunters Hill sold under the hammer

<html><body>
A designer dual level apartment on Rocky Point Road, Sans Souci has been sold for $795,000.
The apartment's prime location in the sought-after Jameson complex is of walking distance from local cafes, shops, sailing clubs, and Dolls Point Beach.
The two-bedroom apartment located at <a href="https://www.propertyobserver.com.au/realestate.com.au/sold/property-apartment-nsw-sans+souci-132777514" target="_blank">123/524-544 Rocky Point Road</a> has built-ins and access to a balcony. It also features two bathrooms, and an internal laundry. 
<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/2020/2/4_BEDROOM.jpg" alt="">
The fresh contemporary interiors has flowing living and dining space that transitions to the outdoors. 
The three balconies provide expansive views of the district and glimpses of the water. 
It was listed as a rental in 2017 and 2018 seeking $700/pw but has not been listed since. 
The 2015 bult abode has sleek tiled flooring, air-conditioning throughout and high ceilings. 
The apartment also has lift access to two secure car spaces which also has a handy lock-up storeroom. 
</body></html>

Sans Souci dual level apartment sold 

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News