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<p>A five bedroom three bathroom Tallai home on Queenland's Gold Coast has been sold by its mortgagee.</p>
<p>Situated at <a href="https://www.realestate.com.au/property-house-qld-tallai-129726626" target="_blank">10 Tolhurst Court, Tallai</a> the home fetched $530,000 in the week prior to Christmas, after being passed in at LJH November mortgagee auction.</p>
<p>It last sold in 2008 for $680,000.</p>
<p>It sold at $310,000 in 2001.</p>
<p>Set on 0.58 ha the listing noted that the existing residence requires a substantial amount of work to be restored.</p>
<p>Located minutes from the major local amenities, the property is a short drive from the M1.</p>
<p>Featuring an in ground swimming pool the property also contains a garden shed for tool storage.</p>
<p>The median price for a home in <a href="/developments/tallai-qld-4213">Tallai</a> is $863,750, according to CoreLogic data, with a 2.3 percent annual change in median price over the past decade.</p>
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Tallai, Gold Coast house sold by mortgagee at $150,000 loss

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<p><span>Values throughout the Ballina Shire stabilised throughout 2018 after strong increases </span>throughout the 2016 and 2017 calendar years, according to the latest Herron Todd White residential report. </p>
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<p><span>The report noted agents who actively market property throughout the Ballina Shire generally report lower numbers of enquiry. </span></p>
<p><span>Some Ballina regions experienced declines in value on the back of weaker Sydney and Melbourne markets, although the lack of available stock generally prevented any notable falls in value throughout the sought-after areas of the shire, HTW noted.</span></p>
<p>A lack of stock did drive the market and buyers were seen moving out of the suburb of Byron Bay into the more affordable coastal resort town of Lennox Head which saw the market in Lennox Head climb in 2018.</p>
<p><span>"The overall market started slightly sluggishly in January and February, however lack of stock saw the market continue to surge throughout 2018. Early </span>stages of flattening were evident throughout the October to November period," the valuation firm said.</p>
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<p><span>The buy in price point of $750,000 to $1.2 million did well throughout the year of 2018. Larger allotments located in Ocean Shores with future subdivision potential did particularly well with a spike in sales. In Lennox Head, sales also spiked with buyers wising up and moving away from </span>the iconic town of Byron Bay towards a smaller township where their money could be spread further.</p>
<p>"At the beginning of 2018, it was predicted that the oversupply of vacant land in Lennox Head may be of some concern. </p>
<p>"We have yet to see any signs of an oversupply of vacant land, with value levels within new residential estates remaining firm, however it would appear that the developer’s conscientious release of land without flooding the market could be partly responsible to this," the report noted.</p>
<p>The prediction for the Byron Shire market that was made all the way back in February was mostly correct.</p>
<p>A recent sale in Ocean Shores is a four bedroom which has been sold for $950,000. </p>
<p>Sitting elevated on a 923sqm block, the house at <a href="https://www.realestate.com.au/sold/property-house-nsw-ocean+shores-128709658" target="_blank">18 Goondooloo Drive</a> (pictured above) comes with multiple living zones,four bedrooms, eat-in kitchen,  and double garage.</p>
<p>It's within walking distance to the Ocean Shores cafes and shops or a short hop to New Brighton, Brunswick Heads and Byron Bay.</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/2018/12/21/lennox%20head.jpg" alt=""></p>
<p>A two bedroom Lennox Head townhouse has been recently sold for $1.17 million.</p>
<p>Situated at <a href="https://www.realestate.com.au/sold/property-townhouse-nsw-lennox+head-128818454" target="_blank">1/43 Stewart Street</a> (pictured above), the beach house feautres two bedroom, sunroom, study, modern kitchen with stone benches, salt water plunge pool and high ceilings.</p>
<p>It's<span> located within easy walking distance to Lake Ainsworth.</span></p>
<p><span>The report mentioned a large portion of the buyer demographic in this locality were people coming from Melbourne or Sydney. </span></p>
<p><span>"The market was majorly influenced by investors and baby boomers looking for a sea change. More recently though we have seen buyers in the 30 to 50-year-old bracket with young families sustaining city job opportunities whilst living away from metropolitan areas." </span></p>
<p>There continues to be renovation, renewal and gentrification activity occurring within established residential areas of Ballina and in particular the Ballina Island and East Ballina precincts, according to an earlier Herron Todd White (HTW) residential report. </p>
<p>The report suggested this is due to requirements from both owner-occupiers and also from potential buyers, and there remains good demand for quality renovated product.</p>
<p>However, the majority of new development within the Ballina Shire is occurring in housing estates such as Epiq at Lennox Head, Ferngrove and Riveroaks at Ballina, Ballina Heights at Cumbalum and the new estates located to the north-west fringe of Wollongbar.</p>
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<p>"It is interesting to note that over the past five years, we have seen a significant increase in construction of self-contained flats and second dwellings of house lots, both in established residential areas and also in new housing estates." the HTW report noted.</p>
<p>The increased construction of self-contained flats and second dwellings can be attributed to the strong rental demand across the Ballina Shire coupled with the fact that there remains limited one and two-bedroom residential units being constructed within established suburbs. </p>
<p>Subsequently properties which possess rear lane access and allow approval and construction of second dwellings in established residential localities have become more sought after, the report said. </p>
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<p>"In the Byron Shire, home renovation and new construction in established areas are on the rise. We see the renovation aspect of this market evident in all suburbs within this locality. An example is Suffolk Park, where homes built in the 1960s and 1970s are being extended and externally remodelled to a more contemporary design," the valuation firm noted.</p>
<p>A Suffolk Park renovated beachfront home was on the market with the price guide of $1.1 million to $1.2 million. It sold in December at $1.1 million.</p>
<p>Set on a 922sqm, the<a href="https://www.realestate.com.au/property-house-nsw-suffolk+park-129206958" target="_blank"> 17/2 Alcorn Street </a>house comes with two bedrooms, open plan kitchen/dining/living, and study.</p>
<p>It has been recently renovated with the new kitchen and bathrooms. </p>
<p>This is also evident in the township of Mullumbimby, where 1930 to 1940 built homes are being updated to compete with new builds occurring in the fringe Tuckeroo Estate.</p>
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<p>The majority of buyer types in this market within the Byron Shire are more of the owner-occupier variety rather than house flippers or spec builders. The suburb where they would achieve the most profit is isolated to that of Byron Bay. Buyers have been capitalising on the increased margin of the price point buy in for this particular coastal resort town.</p>
<p>There has also been an increase in the number of sales as well as price point within the prestige residential market for centrally located properties in close proximity to the Byron Bay CBD, beach and facilities. The increased sales activity in the $2 to $4 million price bracket for standard residential property has been occurring since 2014.</p>
<p>There is generally strong demand for Federation style dwellings which have been renovated to a very good standard and offer the owner a high quality of fitout that is also appealing to the holiday market.</p>
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<p>Evidence of first home buyers wanting to make quick equity can be seen in suburbs such as Ocean Shores within the price-points of $750,000 to $850,000. Other strategies for first home owners have been trending in the purchase of land, where dual occupancy is created, divided and sold.</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/2018/10/8/ocean%20shores%20.jpg" alt=""></p>
<p>An example is a Ocean SHores three bedroom house which has been listed for $770,000 (pictured above). </p>
<p>Nestled on a 921sqm block, the house at <a href="https://www.realestate.com.au/property-house-nsw-ocean+shores-127957602" target="_blank">7 Rajah Road</a> include three bedrooms, renovated family bathroom, three spacious living areas and covered outdoor areas.</p>
<p>It's within walking distance to cafes, restaurants and Brunswick Heads.</p>
<p>Upgraders who want to stay put but need more space for a growing family are taking advantage of creating detached granny flats. This extra space caters for older kids who may still be at home saving for a deposit of their own, or for an ageing relative.</p>
<p>The buy-in price points for homes with upgrade potential in the below mentioned suburbs are as follows:</p>
<p>• OceanShores- $750,000 to $850,000</p>
<p>• ByronBay- $1million to $1.5million</p>
<p>• LennoxHead- $800,000 to $950,000</p>
<p>The suburban infrastructure that helps drive construction within these established areas include the proximity to local airports (both the Ballina/ Byron Bay Gateway Airport and the Gold Coast Airport). This has seen an increase in interstate buyers taking advantage of the versatility of living locally and in either Sydney or Melbourne to cater for their fly-in, fly-out occupations.</p>
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<p>Home renovation and new construction in established areas do have some guidelines and limitations. The biggest limitation we see home buyers face in the Byron Shire is the restriction on secondary dwelling sizes. Where there are dual occupancies on one title in one line, the secondary dwelling must not exceed a total floor area of 60 square metres.</p>
<p>There are changes in the town planning process that are encouraging new construction. The biggest change is seen in the reduced minimum lot sizes. Vacant land was once sold with an average land area of 700 to 800 square metres, however with each new estate that has been developed, we have seen a reduction to 450 to 500 square metre blocks being sold.</p>
<p>The market of home renovation and new construction within the Byron Shire may track a little differently in the future. The cost of building is rising at such a rate that it may have an effect on those speculating to be a part of this market.</p>
<p>"Even now we are seeing vacant land blocks within new estates being resold at a much higher price-point, which may affect the home buyer’s decision about what they can afford to build," the report said.</p>
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Ballina Shire residential market remained steady through 2018: HTW residential 

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<p>There are three leading economists who think that the Reserve Bank will be cutting interest rates this year; AMP Capital's Shane Oliver, Industry Super's Stephen Anthony, and Market Economics' Stephen Koukoulas.</p>
<p>"The Reserve Bank is conflicted. It knows the economy is slowing and that risks are building in asset markets, especially east coast property," Mr Anthony told Nine Entertainment.</p>
<p>"But should that be the official forecast? It also knows that if it can 'manage' sentiment it may also contribute to a softening of activity rather than a bust, especially via property prices and dwelling investment."</p>
<p>It was more likely we had entered "a secular bear market phase" with respect to asset prices, Mr Anthony suggested.</p>
<p>"With the background being declining residential house prices, especially in Sydney and Melbourne, the wealth effects will be significant, likely reducing household consumption growth to at or below 2 per cent in 2019."</p>
<p><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/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></a></p>
<p>Dr Oliver believes the Reserve Bank's bias is "still slightly hawkish" in that "it has not turned dovish yet but it is getting less hawkish and bit more open to the view that the next move in rates may not be up".</p>
<p>Nine Entertainment did a poll of 38 economists on the direction of the next interest rate move and 35 advised the Reserve Bank will likely put them up in 2020.</p>
<p>The consensus was<span> that the RBA would raise the official cash rate to 1.75 percent by June 2020.</span></p>
<p>Eighteen months ago most of them were forecasting a rate rise in 2018. Six months later, predictions moved to 2019. Now the general consensus is rates won't go up until 2020 - with some even calling out to 2021.</p>
<p>AMP chief economist Shane Oliver arrived at his view <a href="/expert-insights/finance/rba-to-cut-rates-second-half-of-next-year-shane-oliver">a few weeks back</a> after the September quarter Australian GDP figures (which came in December) showed the rate of growth had slowed to an annualised 2.8 per cent.</p>
<p>Oliver reasons that the RBA won't move to lower the rate in any attempt to head off further falls in the property market but to help households that carry a mortgage.</p>
<p>But the reversal in house values over the past year has promoted a negative wealth effect which is more likely to result in consumers spending less.</p>
<p>To have much impact the RBA would need to cut twice so <span>Oliver said the official cash rate might go down to 1 percent given the slump in the major housing markets of Sydney and Melbourne</span>. </p>
<p>The Reserve Bank made a policy error in pursuing stability in interest rates in the belief this would encourage confidence, Mr Koukoulas argued.</p>
<p>"The very slight change in tone in recent times is a belated realisation of this error and if, as seems likely, inflation remains outside its target range and its rosy forecasts for growth and unemployment fall flat, it will, pragmatically, change tack."</p>
<p>The wealth effect and its relationship with consumption growth also had been played down, he said, "at its peril".</p>
<p><span>The RBA will announce its initial 2019 monetary policy decision when the board convenes next month.</span></p>
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Why the RBA will cut interest rates in 2019

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<p>Short term weakness in 2019 house prices seems assured as the tight credit conditions and restrictive monetary policy settings constrain demand, according to economist Stephen Koukoulas.</p>
<p>"Nationwide prices may drop 5 per cent by the September quarter, with sharper falls likely in Sydney and Melbourne," he forecasts.</p>
<p>"Late 2019 will be the likely trough in house prices as easier monetary policy unfolds, there is a step up from previously frozen out first home buyers and the strength in demographic demand as fresh supply falters in line with the slippage in building approvals are all likely to put a floor under prices.</p>
<p>His call envisages a 5 per cent drop over first half of 2019 and then a 2 per cent rise in the second half.</p>
<p>"2020 might see a 3 per cent house price lift," he speculates.</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/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></p>
<p>He recently wrote on <a href="https://au.finance.yahoo.com/news/dont-look-now-almost-certainly-poorer-year-ago-211934583" target="_blank">Yahoo Finance</a> that if you are a home owner in Sydney, Melbourne, Perth or Darwin and if you have a superannuation nest egg, the odds are you are less wealthy today than you were a year or two ago.</p>
<p data-reactid="25">He noted the Australian stock market, where the bulk of superannuation assets are likely to be invested, had slumped 11 per cent since August, reducing the value of stocks by around $200 billion. </p>
<p data-reactid="27">"At the same time, home owners in Sydney, Melbourne, Perth and Darwin are seeing the value of their homes getting crunched.</p>
<p data-reactid="28">"Here are some examples. </p>
<p data-reactid="29">"A house in Sydney that was $1 million in July 2017 is now worth around $890,000, a loss of $110,000 in 18 months.</p>
<p data-reactid="30">"In Melbourne, a house that was $800,000 in early 2018 has lost around $50,000 in value, to now be worth around $750,000.</p>
<p data-reactid="31">"In Perth, the situation is more parlous. Prices have dropped 15 per cent since late 2014, meaning that a property that was $600,000 in 2014-15 has lost close to $100,000 in value to be worth just over $500,000.</p>
<p data-reactid="32">"Ouch!"</p>
<p data-reactid="38">He suggests as the loss of wealth filters through to more and more householders, or perhaps when they see the house around the corner not sell for months and when if finally does, the price is a shock, consumers will likely scale back their spending, rebuild savings and be generally cautious in their approach to spending in 2019.</p>
<p data-reactid="39">"This will undermine growth in the economy."</p>
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Stephen Koukoulas forecasts national house prices to begin small rise in late 2019

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<p>Perth values dropped 4.7 percent over the year, led by its decline in the unit market.</p>
<p>Unit values declined a further one percent in December, bringing their total decline over 2018 to 6.5 percent.</p>
<p>House values, which also saw a one percent drop over the month, dropped 4.3 percent, bringing the median house price values to $431,000.</p>
<p>Perth's median unit value sits at $370,000.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/dwell1.jpg" target="_blank">to enlarge</a>.</p>
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<p><span>Tim Lawless, the heat of research at CoreLogic, noted the reprisal in </span><span>Perth’s </span><span>rate of decline was a key factor in the 2018 property landscape.</span></p>
<p>"Perth values are back to levels last seen in March 2009," he noted.</p>
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<p><span>"Although Sydney and Melbourne recorded the weakest conditions, the peak to current declines are much less severe relative to Perth and Darwin where values have been falling since mid-2014.</span></p>
<p><span>"The downturn has been running much longer in Perth and Darwin, resulting in cumulative falls of 15.6 percent and 24.5 percent respectively."</span></p>
<p><span>Lawless noted Perth was among the capitals with t</span>he largest yield improvements</p>
<p>Rents in Perth have been consistently lifting from their low base through the year, up 2 percent over the year while dwelling values were down 4.7%.</p>
<p>"The net result has been a 2 basis points rise in Perth rental yields," he said.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/Cl-Jan2full.jpg" target="_blank">to enlarge</a>.</p>
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Perth property values fall in 2018 back to 2009 levels: CoreLogic

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<p>Darwin just pipped Canberra to be 2018's strongest mainland capital city with 3.7 percent house price growth, according to CoreLogic.</p>
<p>Canberra houses rose 3.6 percent in the year.</p>
<p>Darwin's house price recovery was not however seen in the apartment market, where it was the weakest capital city market across the country.</p>
<p>Darwin unit prices were down 10.4 percent during 2018 to a $305,000 median, the CoreLogic report showed.</p>
<p>Canberra unit values rose 2 percent to $440,800.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/dwell1.jpg" target="_blank">to enlarge</a>.</p>
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<p><span>Darwin's dwelling values over the calendar year fell by 1.5 percent, while Canberra's dwelling values rose 3.3 percent.</span></p>
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<p><span>According to CoreLogic head of research Tim Lawless, the broad weakening in housing market conditions in 2018 highlights that the slowdown goes well beyond the correction in Sydney and Melbourne.</span></p>
<p>“Although Australia’s two largest cities are the primary drivers for the weaker national reading, most regions around the country have reacted to tighter credit conditions by recording weaker housing market results relative to 2017.</p>
<p><span>“The </span><span>two exceptions were regional Tasmania, where the pace of capital gains was higher relative to 2017 resulting in a nation leading 9.9 percent gain in values over the 2018 calendar year, and Darwin, where the annual rate of decline improved from -8.9 percent in 2017 to -1.5 percent in 2018.</span><span>”</span></p>
<p>A recent sale in Nightcliff was a Verbena Street five bedroom house which has been sold at $800,000 (pictured below).</p>
<p><a href="https://www.realestate.com.au/sold/property-house-nt-nightcliff-128726138" target="_blank">13B Verbena Street </a>features open plan living/dining area, large covered balcony, kitchen with steel oven, four upstairs bedrooms and fifth bedroom downstairs. </p>
<p>Other features include tropical gardens, in-ground pool, double carport and split-system a/c.</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/2018/8/14/nightcliff%20.jpg" alt=""></p>
<p>A Fannie Bay three bedroom townhouse has been recently sold for $850,000 (pictured below).</p>
<p>Situated at 2/3 Philip Street, the townhouse comes with open plan kitchen and living, three bedrooms, and large private courtyard with in ground pool. </p>
<p>It is with walking distance to the Fannie Bay Shopping Village and parks as well as East Point Reserve.</p>
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<p><span>Darwin was one of only two capital cities that saw a reduction in gross rental yields over the year. </span></p>
<p><span>Darwin showed a reduction in rental yields, due to rental rates (-5.8 percent) falling more than dwelling values (-1.5 percent).</span></p>
<p>Hobart dwelling values (+8.7 percent) rose faster than rents (+5.8 percent) which dragged the gross yield lower over the year. </p>
<p>Housing affordability has rapidly deteriorated across Hobart, according to Lawless.</p>
<p>"Outside of Hobart, where dwelling values were 8.7% higher over the year, even the best performing regions returned a relatively mild annual growth rate, Lawless said.</p>
<p>Seven of the top ten sub-regions returned an annual gain of less than 3%.</p>
<p>"Such a soft result amongst the best performing areas highlights that housing market weakness is broad-based and not just confined to Sydney and Melbourne," Lawless added.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/Cl-Jan2full.jpg" target="_blank">to enlarge</a>.</p>
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Darwin pips Canberra to be 2018's strongest mainland capital for house value growth: CoreLogic

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<p>Melbourne's house value decline accelerated to 9.1 percent in late 2018, according to CoreLogic.</p>
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<p>Melbourne’s top quartile housing market led the way with dwelling values down 11.2 percent over the year, while the lower quartile of the market has remained in subtle growth territory over the year (+0.5%).</p>
<p>Melbourne values are down 7.2% since peaking in November 2017. </p>
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<p>At the end of 2018, Melbourne values are back to February 2017 levels, Tim Lawless, the head of research at CoreLogic said.</p>
<p><span>The 7.2 percent Melbourne decline from its peak 13 months ago compares with Sydney's 6.9 percent dip when it was 13 months into its downturn.</span></p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/dwell1.jpg" target="_blank">to enlarge</a>.</p>
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<p>Melbourne's inner east was the nation's worst performing housing market in 2018, according to CoreLogic.</p>
<p>The region saw declines of 13.4 percent.</p>
<p>The worst performing list, dominated by Sydney suburbs, only had one other Melbourne suburb, the inner south, which saw 10.5 percent decline.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/Ryde4.jpg" target="_blank">to enlarge</a>.</p>
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<p>Melbourne's inner east comprising of the likes of Doncaster, Hawthorn, Surrey Hills and Park Orchards.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/Cl-Jan2full.jpg" target="_blank">to enlarge</a>.</p>
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<p>This time last year, at the end of 2017 Tim Lawless noted that the 2017 shift to falling national dwelling values was being driven by the capital cities, with the combined capitals tracking half a percent lower over the December quarter, while across the combined regional areas of Australia, values were half a percent higher over the quarter.</p>
<p>Amongst the capitals, the weakest end of 2017 year conditions were concentrated in Sydney and Darwin.</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/2018/1/2/CORE2.jpg" alt=""></p>
<p>At December 31, 2017 Sydney dwelling values remained 70.8 percent higher than their cyclical low point in February 2012.</p>
<p>The best performing capital city over the 2017 calendar year was Hobart, where dwelling values rose by 12.3 percent: almost five times higher than Hobart’s decade average annual rate of capital gain (2.5 percent).</p>
<p> </p>
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Melbourne's inner east the nation's weakest house price market in 2018: CoreLogic

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<p>The Ryde district ranked as Sydney's weakest 2018 housing market, according to CoreLogic.</p>
<p>Ryde values were down by 13.3 percent over the year to December 31.</p>
<p>Sydney's inner south west was the next weakest with values down 10.9 percent.</p>
<p>Melbourne's inner east was the worst performing area of 2018, seeing <a href="/expert-insights/buying/melbournes-inner-east-the-nations-weakest-house-price-market-in-2018-corelogic">declines of 13.4 percent</a>.</p>
<p>There was a late year deterioration in values as Ryde's decline was put at 9.4 percent in August (below).</p>
<p>Recent Ryde sales included a one-bedroom apartment at 4 Devlin Street (above), which sold for $565,000, some $115,000 less than its 2014 off the plan purchase price.</p>
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<span class="il">Ryde</span> district vendors were having to adjust their expectations with losses emerging for some.</div>
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<div>Another off the plan purchase in <span class="il">Ryde</span> went backwards recently. </div>
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<div>The apartment was bought for $713,000. The Belmore Street two bedroom apartment recently sold for $691,000.</div>
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<div>A two bedroom Macquarie Park apartment recently sold for $808,000, just $8,000 more than than two years ago. The sale fell well short of its initial $870,000 guide, and would have meant a loss after costs including stamp duty and estate agent commission.</div>
<div> </div>
<div>A four bedroom house in Marsfield recently went backwards on its 2015 price. The 1975 built home sold for $1,791,000 in three years ago, and has just resold for $1.75 million, a $41,000 loss.</div>
</div>
<p>A unit at 21-31 Porter Street fetched $66,000 less, while a unit at 2D Porter Street sold for $38,000 less than four years ago.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/1/2/Ryde4.jpg" target="_blank">Click here</a> to enlarge:</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/2019/1/2/Ryde4.jpg" alt=""></p>
<p>A three bedroom house in Ryde sold for $1.65 million (pictured below) bucked the trend selling in under three weeks.</p>
<p>Set on a 550sqm block, the house at<a href="https://www.realestate.com.au/sold/property-house-nsw-ryde-129030918" target="_blank"> 1 Cosimo Place</a> offered three large bedrooms, modern Caesarstone kitchen, formal living and second living area.</p>
<p>Other features include LED-lit stairs, alfresco, generous laundry and study nook. </p>
<p>It sits a short stroll to buses and parklands, and delivers immediate access to schools, retails and Macquarie business precinct. </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/2018/9/4/1%20cosimo%20place.jpg" alt=""></p>
<p>A one bedroom unit in the heart of Ryde sold for $430,000 (pictured below). It first sold at $281,000 in 2012.</p>
<p>The unit situated at<a href="https://www.realestate.com.au/sold/property-apartment-nsw-ryde-128796734" target="_blank"> 1/688 Victoria Rd</a> consists of one bedroom with built-in, spacious lounge/dining area, modern kitchen and private courtyard.</p>
<p>It is situated only a short walk away from Top Ryde Shopping Centre, Putney Shopping Village, Local Transport, Schools and Riverside Parklands.</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/2018/9/4/688%20victoria%20rd.jpg" alt=""></p>
<p>A Curzon Street two-bedroom unit priced between $580,000 to $630,000 (pictured below) fetched $568,000 in October.</p>
<p>The unit at <a href="https://www.realestate.com.au/property-unit-nsw-ryde-129234978" target="_blank">7/15 Curzon Street</a> comprises of large living area with balcony, newly renovated kitchen, two large bedrooms and lock-up storage room.</p>
<p>It situated within seconds to Top Ryde City Shopping Centre, city buses, restaurants and cafes.</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/2018/9/4/15%20curzon%20st.jpg" alt=""></p>
<p> </p>
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Ryde ranks as Sydney's weakest 2018 housing market: CoreLogic

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<p>The Federal Court of Australia made interim orders restraining Askk Investment Group Pty Ltd (Askk) from dealing with funds in their bank accounts in relation to a suspected land banking scheme. </p>
<p>The December 20 orders see Askk also restrained from selling or otherwise dealing in the property which is the subject of the land banking scheme.</p>
<p>Askk has an interest in land located in Lot 2, 615 Hume Highway Beveridge, Victoria.</p>
<p>Askk is Broadmeadows based.</p>
<p>ASIC suspects that since October 2017, Askk has raised in excess of $10 million dollars from more than 270 investors in relation the land, and since this time, investors have been making ongoing payments in respect of their investment.</p>
<p>The money is in two Westpac accounts.</p>
<p>ASIC is concerned that Askk:</p>
<ul>
<li>may be operating an unregistered managed investment scheme (MIS);</li>
<li>may be carrying on a financial services business in relation to the promotion and operation of an unregistered MIS without holding an Australian Financial Service Licence; and</li>
<li>may have engaged in conduct that is misleading or deceptive during the promotion of the scheme to investors.</li>
</ul>
<p>ASIC’s investigation is ongoing. The freezing orders remain in place until the next hearing date on 8 February 2019.</p>
<p>The orders allows Askk withdrawing up to $50,000 for the purposes of paying the defendant’s legal expenses in relation to this matter.</p>
<p>The land was initially marketed as a large acreage "<span>ready to be owned by astute developers, builders and land bankers including group of investors looking to cash in capital."</span></p>
<p><span>It was described as a "unique land parcel zoned under urban growth with its boundary located in the famous Beveridge north suburbia."</span></p>
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$10 million frozen in suspected Askk Investment Group land banking scheme

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<p>The Top Level acquisition by The Agency, a real estate agency from the West, won't now take place until 2019.</p>
<p>The latest update in the long running saga came Friday when The Agency Group Australia advised shareholders that the settlement date to buy the Bondi Beach-based McGrath Rebels has been extended to 11 January 2019.</p>
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<p>The company will also be extending the closing date of the offer under the prospectus dated 20 November, issue date of securities under the prospectus, settlement of the acquisition of all of the shares on issue in Top Level Real Estate Pty Ltd and closing date of the cleansing offer under the prospectus to be amended to 4 January 2019.</p>
<p>It is two years ago that Top Level was launched with the backing of mortgage broker John Kolena, and Ausnet, a then little-known real estate practice out of Perth since 2006 called The Agency which offer a range of Ausnet financial services.</p>
<p>Top Level has been operating under licence to The Agency Group during the extended delayed period while under offer.</p>
<p>Ausnet came to list on the Australian Securities Exchange via the ASX-listed Namibian Copper Limited, a base metals exploration company previously focusing on Namibia, Africa. </p>
<p>The Agency, formerly Namibian Cooper/Ausnet, is now trading at 1 cent. </p>
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<p>The Agency Group Australia also advised shareholders that the ASX had granted the company a waiver from ASX Listing Rule 14.7 to the extent necessary to permit the company to issue 6,160,000 shares to John Kolenda, up to 10,000,000 shares to John Kolenda, 833,333 shares to Paul Niardone and 333,333 options exercisable at $0.30 on or before that date which is 3 years from the date of issue to Adam Davey as approved by the company’s shareholders at the general meeting held in November 2018.</p>
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McGrath Rebels acquisition by The Agency pushed back into 2019

<p>Apartment buildings are increasingly being designed around how people actually live day to day, not just how they want a building to look.</p>

<p>For buyers, that shift is showing up in practical inclusions that respond to changing habits. Work-from-home spaces, EV charging, wellness amenities, secure bike storage and parcel management are becoming part of the broader apartment conversation, reflecting a move toward buildings that reduce friction in everyday life.</p>

<p>Online shopping has become one of the clearest examples of that change.</p>

<p>Australians spent a record $82.6 billion online in 2025, with nearly one in four retail dollars now spent online. That has made parcel delivery a regular part of apartment living, rather than an occasional inconvenience.</p>

<p>For apartment residents, however, the delivery process can be less straightforward than it is for detached homes. Parcels may be left in lobbies, redirected to Post Offices, missed entirely, or placed under the responsibility of building managers and concierge teams.</p>

<p>That is why secure parcel infrastructure is increasingly being considered alongside more familiar apartment amenities.</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/-VjjLwoViX0?si=A3k7ws9NX35Uac7_" title="YouTube video player" width="560"></iframe></p>

<p>Australia Post Parcel Lockers offer one way to address the issue. When a parcel arrives, residents receive a notification through the AusPost app or SMS, then collect it using a QR code or one-time PIN. The parcel is kept secure, accessible and removed from common areas.</p>

<p>The broader Parcel Locker network now includes more than 1,500 locations across Australia, positioned at Post Offices, shopping centres, supermarkets, transport hubs and other accessible locations.</p>

<p>For new apartment projects, the relevance is clear. A building’s amenity offering is no longer only about lifestyle spaces, but also about convenience, security and functionality.</p>

<p>As buyer expectations evolve, secure parcel delivery is becoming part of the same design conversation as flexible working, sustainable transport and resident wellbeing.</p>

<p>It is one less thing for residents to worry about, and another example of apartment design adapting to the way Australians now live.</p>


Joel Robinson

Apartment design is adapting to the way Australians shop

<p>While school holidays and trips to Europe tend to define the winter property market, there's been no cold snap at <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> in North Sydney.</p>

<p>Developer-builder&nbsp;<a href="https://www.apartments.com.au/developers/aland">ALAND</a> sold more than $35 million worth of apartments throughout June, including a $6.8 million apartment that now ranks among the highest apartment sales ever recorded in North Sydney.</p>

<p>SRM Residential agent Ben Stewart said buyer demand throughout June reflected a mix of improving market confidence and longer-term thinking from owner-occupiers.</p>

<p>"We're seeing strong demand from owner-occupiers who are taking a longer-term view," Stewart said.</p>

<p>"Many recognise the opportunity to secure an apartment in an iconic building and premium location while values remain attractive. They may initially lease the property, but the intention is to eventually move in themselves, rather than purchasing purely as an investment."</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=367129]</p>

<p>Located at 177 Walker Street, The Walden will deliver 161 one, two, three and four-bedroom residences across a 30-storey tower designed by Rothelowman. Every apartment occupies a corner position, maximising natural light, cross ventilation and views across Sydney Harbour, the Opera House, Sydney Heads and the northern districts.</p>

<p>Rather than a traditional balcony, the residences feature winter gardens that seamlessly extend the open plan living areas, creating versatile spaces for relaxing or entertaining throughout the year. Floor-to-ceiling glazing draws in natural light while showcasing sweeping views from the building's elevated Walker Street position.</p>

<p>Every apartment features high-end Calacatta marble, bespoke joinery, and fully integrated appliances.</p>

<p>The larger residences have been planned with distinct entertaining and private zones, with many master suites positioned on corners to capture natural light and harbour views. Walk-in dressing rooms, freestanding baths and refined stone finishes reinforce the house-like feel that has resonated with downsizers and owner-occupiers.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6393]</p>

<p>Rothelowman Principal Ben Pomroy said the project was designed to make the most of its unique position overlooking the harbour.</p>

<p>"The Walden is a celebration of all things beautiful, curated for those who expect nothing less than exceptional," Pomroy says.</p>

<p>"Meticulously designed entertaining spaces and light-filled living areas that capitalise on capturing the natural beauty of Sydney's iconic harbour."</p>

<p>Residents will also have exclusive access to The Pavilion, a dedicated amenity building featuring a rooftop pool, wellness studio, gymnasium, sauna, concierge service, residents' lounge, private dining spaces and work-from-home facilities.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6402]</p>

<p>The project marks ALAND's first major luxury apartment development in Sydney's inner-city market after more than two decades delivering residential communities across Greater Sydney.</p>

<p>Founder and CEO Andrew Hrsto previously said the rarity of the Walker Street site made it an opportunity the company could not overlook.</p>

<p>"This is a rare opportunity to bring a truly exceptional project to life in one of Sydney's most iconic locations, and to showcase our craftsmanship and design expertise at a world-class level," Hrsto said.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6383]</p>

<p>The Walden has been introduced to the market at a time when demand for living in North Sydney is at an all-time high. Billions of dollars have been invested in infrastructure, including the recently opened Victoria Cross Metro station, located just 300 metres from The Walden, providing residents with direct access to the Sydney CBD in just minutes.</p>

<p>Private investment has also transformed the area through the arrival of new retail and dining destinations, elevating the lifestyle offering in what was once considered primarily a commercial precinct rather than an aspirational residential address.</p>

<p>The Walden is currently under construction and is scheduled for completion in 2028.</p>

<p>[smartcode_project_cta:default project_id=134323]</p>


ALAND records $35 million in sales in North Sydney as The Walden bucks quiet winter selling season

<p>The long-awaited redevelopment of the former Eastlakes Shopping Centre site has reached a major milestone, with Conquest's plans for a new mixed-use precinct officially placed on public exhibition.</p>

<p>The State Significant Development Application would transform the 1.7-hectare site at <a href="https://www.apartments.com.au/new-apartments/19a-evans-avenue-eastlakes-nsw-2018">19A Evans Avenue</a> into one of Sydney's largest urban renewal projects, delivering 736 apartments above a new shopping centre anchored by Woolworths, alongside specialty retail, dining, commercial space and new public open spaces.</p>

<p>The public exhibition marks the next chapter for the project after <a href="https://www.apartments.com.au/developers/conquest">Conquest</a> acquired the stalled Stage Two development from Crown Group, who completed the first stage across the road prior to their voluntary liquidation.</p>

<p><img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="5fca22c5-d1ed-4e2c-8801-03f7df1eafc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland%20podium.png?VersionId=uomwr41nF8CmLUZRDcu3mHQechlbxucS" /></p>

<p>&nbsp;</p>

<p>Designed by DKO Architecture, the proposal comprises four residential buildings ranging from 14 to 18 storeys above a two-level retail podium. The development would deliver 736 apartments, including 74 affordable homes, 215 Build-to-Rent apartments and 521 market residences. Provision has also been made for dual-key apartments, which could increase the total number of dwellings to 877.</p>

<p>At ground level, the shopping centre has been designed as the suburb's new meeting place, anchored by a full-line Woolworths and complemented by a curated mix of fresh food retailers, cafés, restaurants, health services and everyday convenience shopping. Generous pedestrian links and landscaped public spaces will connect the retail precinct through to Jack Mundey Reserve, creating a more walkable and connected neighbourhood.</p>

<p>Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.</p>

<p>"Eastlakes has been overlooked for too long, and this is the community’s moment. We are building a shopping centre and homes, a genuine heart for the suburb, and we genuinely want locals to help shape it."</p>

<p>"We enrich communities through the creation of homes, places, and experiences designed for life, built to last, and owner for generations. That starts with listening, so we warmly encourage everyone with a connection to Eastlakes to view the plans and share their thoughts."</p>

<p><img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="22f6fb20-54fb-4bd7-8a92-48fafdd00608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland.png?VersionId=cugp7s9hrMHGJJdYzkeAkrFoQgnF4GXf" /></p>

<p>DKO said the design had been shaped by the site's landscape setting and surrounding open space.</p>

<p>"Our vision for the site embraces its unique Bidjigal identity by blending the residential living with generous landscaping and a material palette inspired by the Bidjigal locality, and celebrating the panoramic views to Botany Bay and the wetlands reserves."</p>

<p>"Taking cues from Country, we seek to harmonise built form with the landscape and lightly touch the earth. By reconnecting, retaining and regenerating existing ecology, and weaving in natural elements, we can deepen our connection to Country."</p>

<p>The landscape strategy extends across the podium and rooftops, incorporating communal gardens, children's play areas, lawns, community gardens, family gathering spaces and extensive tree planting. New landscaped links will also strengthen the connection between the precinct and Jack Mundey Reserve, while publicly accessible open spaces have been integrated throughout the development.</p>

<p>The proposal builds on Conquest's broader placemaking strategy for the site. Through an ongoing partnership, local artist Joe Rashbrook has been appointed Urban Art Curator, working alongside young residents to transform the project's site hoardings into a public art gallery that allows the community to engage with the redevelopment before construction is complete.</p>

<p>Conquest has rapidly expanded its development pipeline since acquiring the Eastlakes site, with more than $6 billion worth of mixed-use projects now in planning across Sydney, including Stanmore, Castlecrag and Waterloo.</p>


Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

First look: ‘Far more than replacing a shopping centre’ as Conquest unveils 736-home Eastlakes redevelopment

<p>Abadeen has lodged a State Significant Development Application (SSDA) for one of Mosman's largest apartment developments in recent years, seeking approval to transform the former Honeysuckle Garden and Midas site on Military Road into a 100-apartment mixed-use development.</p>

<p>The SSDA, lodged with investment partner Phoenix Property Investors, proposes around $230 million worth of new housing on the prominent <a href="https://www.apartments.com.au/new-apartments/494-516-military-road-mosman-nsw-2088">494-516 Military Road</a> site.</p>

<p>The proposal comes as Mosman Council continues to progress its recently endorsed Masterplan, which identifies the precinct for increased housing density while maintaining the suburb's established character.</p>

<p>Designed by DKO Architecture, the development would comprise 100 apartments above ground-floor retail, with a rooftop wellness precinct including a gym, sauna, entertaining areas and landscaped communal spaces.</p>

<p>Rather than pushing to the full 12-storey height identified in Council's Masterplan, the proposal ranges between five and nine storeys, stepping down towards Hale Road. A tenth level would accommodate resident amenities rather than additional apartments.</p>

<p>The project has been designed to appeal to a broad range of buyers, from first home buyers and young professionals through to families and local downsizers looking to remain on the Lower North Shore.</p>

<p><img alt="Mosman" data-entity-type="file" data-entity-uuid="5dada03f-5b4c-43ba-ba62-2868add31440" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.57.55%E2%80%AFAM.png?VersionId=7LBy0B.Jo8_iWAFJsClcV7Q3UnXrv49r" /></p>

<p>Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock.</p>

<p>"The apartments have been designed as genuine long-term homes, with efficient floorplans that maximise usable living areas, generous storage, natural light and strong connections between indoor and outdoor spaces," Brown says."</p>

<p>"We've focused on creating homes for a broad range of buyers, from first home buyers and growing families through to downsizers who want to remain in Mosman."</p>

<p>The rooftop wellness offering forms a key part of the proposal, with residents set to have access to a gym, sauna, outdoor entertaining spaces, communal dining areas, landscaped gardens and a multi-use recreation court overlooking Sydney Harbour.</p>

<p><img alt="Mosman" data-entity-type="file" data-entity-uuid="d37c2d6b-583a-4a0f-b7a9-9f46b893d2f4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.58.06%E2%80%AFAM.png?VersionId=FPoa5FCm2RtzjhAh2w5FTWJbV6GHfY8D" /></p>

<p>DKO drew heavily on the site's natural and cultural history, undertaking a Connecting with Country process with local Aboriginal Elders to inform the architectural and landscape design.</p>

<p>Senior Associate Matthew Ritchard said the design sought to create a building that responded to both the site's landscape and its cultural significance.</p>

<p>"The architectural language of the project is a deep expression of Connecting with Country, where the materiality and colour palette serve as a bridge between the site's geological history and its future as a residential sanctuary."</p>

<p>The proposal also retains the site's established blue gum tree as the centrepiece of the communal landscaped gardens, while introducing activated retail fronting Military Road to strengthen the connection between Mosman and Cremorne villages.</p>

<p>If approved, the project would deliver 100 new homes within walking distance of shops, public transport, schools and local amenities, adding to the limited pipeline of new apartments on the Lower North Shore.</p>

<h2>Project Snapshot</h2>

<p><strong>Project:</strong> Honeysuckle Garden Redevelopment</p>

<p><strong>Address:</strong> 494-516 Military Road, Mosman</p>

<p><strong>Developer:</strong> Abadeen and Phoenix Property Investors</p>

<p><strong>Architect:</strong> DKO Architecture</p>

<p><strong>Lead Architect:</strong> Matthew Ritchard</p>

<p><strong>Value:</strong> $230 million</p>

<p><strong>Residences:</strong> 100 apartments</p>

<p><strong>Key features:</strong></p>

<ul>
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	<p>Ground-floor retail</p>
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	<p>Rooftop wellness precinct</p>
	</li>
	<li>
	<p>Gym and sauna</p>
	</li>
	<li>
	<p>Outdoor entertaining and BBQ areas</p>
	</li>
	<li>
	<p>Landscaped communal gardens</p>
	</li>
	<li>
	<p>Multi-use recreation court</p>
	</li>
	<li>
	<p>Retained mature blue gum tree</p>
	</li>
	<li>
	<p>Connecting with Country design process</p>
	</li>
	<li>
	<p>Harbour, CBD and Balmoral views from upper-level apartments</p>
	</li>
</ul>


Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock

First look: Abadeen plans 100 apartments on former Honeysuckle Garden site in Mosman

<p>The wave of apartment proposals sweeping through Mosman shows no signs of slowing, with another major residential development lodged through the NSW Government's State Significant Development pathway.</p>

<p>Developer First Quadrant Properties, which recently completed Willoughby Grounds and has several projects in planning across the North Shore, has unveiled plans for <a href="https://www.apartments.com.au/new-apartments/cove-on-ourimbah-40-56-ourimbah-road-mosman-nsw-2088">Cove on Ourimbah</a>, a 63-apartment development on Ourimbah Road, adding to the growing pipeline of projects reshaping one of Sydney's most tightly held harbour suburbs.</p>

<p>The proposal would consolidate nine properties at 40-56 Ourimbah Road into a part eight, part nine-storey apartment building, continuing the momentum created by the NSW Government's accelerated planning pathways that have seen several significant developments emerge across Mosman over the past 12 months.</p>

<p>Designed by Doroch Architects, the project would deliver 63 apartments, resident wellness facilities including a gym, pool and sauna, landscaped communal spaces and basement parking, while using recessed upper levels, generous setbacks and extensive planting to reduce the perceived scale of the building.</p>

<p><img alt="First look: First Quadrant Properties eyes nine-storey Mosman apartment project under State Significant pathway" data-entity-type="file" data-entity-uuid="32ee68e4-141e-4a10-8f83-48e961a5e71e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ourimbah%20Road%2C%20Mosman%20a.png?VersionId=CUeILFc6APlwXPc.iplElbxHvREKwjig" /></p>

<p>Doroch Architects said the building had been designed to reinforce Mosman's established character.</p>

<p>"The building's aesthetic is grounded in the existing residential character of Ourimbah Road and the broader Mosman context," the architect noted in the planning documents submitted to the NSW Government.</p>

<p>The design adopts a contemporary material palette of natural stone, textured concrete and brown concave metal cladding, complemented by integrated planters and deep balconies. The podium incorporates softened curved concrete forms, while increased setbacks have been provided adjacent to the heritage-listed property at 60 Ourimbah Road to create a more sympathetic transition.</p>

<p>The site sits around 330 metres from Mosman Town Centre, placing it within the NSW Government's Low and Mid-Rise Housing policy area, where increased residential density is being encouraged close to shops, transport and services.</p>

<p>The proposal follows a string of major apartment projects lodged or declared State Significant in Mosman in recent months, including Abadeen's 100-apartment Honeysuckle Garden redevelopment on Military Road and several other developments across Awaba Street, Redan Street and Muston Street from the likes of Time &amp; Place, HELM and Prosker Property.</p>

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<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Time &amp; Place to take on Mosman apartment market</a></em></p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/first-look-abadeen-plans-100-apartments-on-former-honeysuckle-garden-site-in-mosman">First look: Abadeen plans 100 apartments on former Honeysuckle Garden site in Mosman</a></em></p>

<p>&nbsp;</p>


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