<html><body>
Property NSW, on behalf of Family and Community Services, has sold the final two apartment blocks on Dalgety Road as part of the Millers Point sales program.
The two-storey federation style apartment blocks, featuring a mix of two and three bedroom units, were sold via auction by Sydney’s Sotheby’s International Realty and Savills Australia.
27-29A sold for $4.35 million and 31-33A sold for $4.325 million.
Also sold at auction on Saturday, was 117 Kent Street. The four-bedroom, two-bathroom terrace split over four levels achieved a sale price of $2.55 million. 
There are four properties left to sell as part of the Millers Point sales program. A total of 187 sales have been managed by Property NSW in Millers Point since 2014.
Conservation Management Plans (CMPs) endorsed by the NSW Heritage Council are included in contracts for sale for all heritage listed properties. These contracts ensure new property owners are fully informed of their obligations and responsibilities when purchasing a heritage listed property.
Proceeds from the Millers Point sales program have delivered over $603 million for investment in social housing developments in NSW.
As of July 2018, a total of 1,101 units have been completed and 280 units are currently under construction using proceeds from the Millers Point sales.
Developments are occurring in areas of identified need for social housing, including Bankstown, Canterbury, Liverpool, Fairfield, the Sutherland Shire and Wollongong areas. New social housing is also under construction in Coffs Harbour and North Richmond. 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Just four to go in State Government Millers Point sell off

<html><body>
A review by ASIC has found that reverse mortgages are allowing older Australians to achieve their immediate financial goals – improving their lifestyles in retirement – but longer-term challenges exist.
For older Australians who own their home with few other assets, a reverse mortgage can allow them to draw on the wealth locked up in their homes, while they continue to live in their property.
ASIC reviewed data on 17,000 reverse mortgages, 111 consumer loan files, lender policies, procedures, and complaints. We also commissioned in-depth interviews with 30 borrowers and consulted over 30 industry and consumer stakeholders.
The review found borrowers had a poor understanding of the risks and future costs of their loan, and generally failed to consider how their loan could impact their ability to afford their possible future needs. Lenders have a clear role to play here and need to do more: for nearly all of the loan files we reviewed, the borrower’s long term needs or financial objectives were not adequately documented.
<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/2018/8/28/asic%201.jpg" alt="">
Importantly, under legal protections in place since 2012, borrowers can never owe the bank more than the value of their property, and can remain in their home until they pass away or decide to move out. However, depending on when a borrower obtains their loan, how much they borrow, and economic conditions (property prices and interest rates), they may not have enough equity remaining in the home for longer term needs (e.g. aged care).
ASIC Deputy Chair Peter Kell said “Reverse mortgage products can help many Australians achieve a better quality of life in retirement.”
“But our review shows that lenders and brokers need to make inquiries that would lead to a genuine conversation with customers about their possible future needs, not just a set of tick boxes on a form.”
ASIC’s report also finds that there is an opportunity for lenders to reduce the risk of elder abuse. Under the new Code of Banking Practice, recently approved by ASIC, banks will be required to take extra care with customers who may be vulnerable, including those who are experiencing elder abuse.
Consumers also had limited choices for finding a reverse mortgage. Several providers withdrew from the market after the global financial crisis. From 2013 to 2017, two credit licensees provided 80% of the dollar value of new loans from 2013 to 2017.
<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/2018/8/28/asic%202.jpg" alt="">
Background
Reverse mortgages are a credit product that allows older Australians to borrow using the equity in their home. The loan does not need to be repaid until a later time, typically when the borrower has vacated the property or passed away. They are a more expensive form of credit compared to standard variable owner occupier home loans; the interest rates are typically 2% higher and, as there are no repayments required, interest compounds. 
Consumer demand for reverse mortgages has grown gradually since the global financial crisis, with the total exposure of ADIs to reverse mortgages increasing from $1.3 billion in March 2008 to $2.5 billion by December 2017.
ASIC commenced a review of lending practices and consumer outcomes in the reverse mortgage market to proactively examine issues that might emerge for older Australians.
As part of this review, we evaluated the effectiveness of enhanced responsible lending obligations for reverse mortgages which were introduced five years ago into the National Consumer Credit Protection Act 2009 (National Credit Act).
This review examined five brands, who collectively lent 99% of the dollar value of approved reverse mortgage loans in 2013-17. These brands were: Bankwest, Commonwealth Bank, Heartland Seniors Finance, Macquarie Bank and Westpac (comprising St George Bank, the Bank of Melbourne and BankSA). As of late 2017, Macquarie Bank and Westpac are no longer providing new reverse mortgages.
This project forms part of ASIC's broader work for older Australians to help bring about positive changes for these consumers in credit and financial services: see REP 537 Building seniors’ financial capability report 2017 and REP 550 ASIC’s work for older Australians.
ASIC’s MoneySmart website has information for consumers about reverse mortgages. Consumers can also use MoneySmart's reverse mortgage calculator to see how a reverse mortgage can impact the equity in their home. 
</body></html>

ASIC issues reverse mortgage lending warning

<html><body>
A long held Yamba trophy home sold for $700,000 at auction last weekend.
Located at 62 Yamba Road, Yamba, is a historical cottage with waterway frontage.
It came with views of the Yamba Marina.
Set on a 1423 sqm block, the four bedroom two bathroom home features living spaces with access to deck space on three sides of the home.
It has a gazebo overlooking the waterway.
<img src="https://www.urban.com.au/images/2018/8/29/Marina%202.JPG" alt="">
The home has timber flooring throughout.
It is just a 15 minute walk from the CBD.
The listing was sold by Daniel Kelly of Ray White.
</body></html>

Yamba trophy home sold for the first time in decades

<html><body>
First State Super has won control of Victoria's land title registry with a $2.86bn bid.
It secured the right to operate the land titles and registry functions for 40 years.  
Victoria will keep control over prices for statutory land registry services.
The State Labor Government will use the cash for infrastructure, including new schools, hospitals and transport.
The public sector super fund and Hastings Funds Management last year won a 35-year lease on the the land titles registry in New South Wales with a bid of $2.6 billion.
First State Super has 773,000 member accounts — nurses, midwives, teachers, police, firefighters and paramedics — and $63.7 billion funds under management.
Michael Dwyer, First State Super’s CEO, says the fund has more than 180,000 members in Victoria.
“We see land registries as critical economic infrastructure with strong investment fundamentals.”
</body></html>

First State Super secures Victorian land title registry with a $2.86bn bid

<html><body>
This season's series of The Block is coming to the end, as the renovated apartments in St Kilda's Gatwick Hotel are listed for sale.
Each of the apartments are tipped to fetch over $2 million.
Melbourne locals and professional netball players Bianca and Carla are the bookies favourites, just ahead of South Australian husband and wife duo Kerrie and Spence.
The final will be aired live on September 22. Below are the renovated apartments from each contestant.
<h3><a href="https://www.domain.com.au/1-34-fitzroy-street-st-kilda-vic-3182-2014552025" target="_blank">1/34 Fitzroy Street, St Kilda</a></h3>
Team: Kerrie and Spence
<div>
<div><img src="https://www.smh.com.au/content/dam/images/h/1/3/x/q/j/image.imgtype.articleLeadwide.620x349.png/1534212581030.png" alt="Heated towel rails are a must for luxurious bathrooms." title="" width="100%"></div>
<div> </div>
</div>
Kerrie and Spence’s refined style have ensured this apartment has a “sophisticated and timeless interior.”
The couple from South Australia’s apartment features a guest room with reading nook and library, a bedroom with floor to ceiling bookshelves and a main bathroom with “striking black cabinetry,” according to the listing.
Hockingstuart Albert Park agents Stephanie Evans and Emily Adams are marketing the property.
<h3><a href="https://www.domain.com.au/2-34-fitzroy-street-st-kilda-vic-3182-2014552033" target="_blank">2/34 Fitzroy Street, St Kilda</a></h3>
Team: Courtney and Hans
<div>
<div><img src="https://www.smh.com.au/content/dam/images/h/1/3/x/q/n/image.imgtype.articleLeadwide.620x349.png/1534212470715.png" alt="The dropped ceiling and recessed LED lighting creates a high-end feel in Hans and Courtney's bathroom." title="" width="100%"></div>
<div> </div>
</div>
The winners of the first room reveal – Western Australian couple Courtney and Hans’ flawless finishes add to the elegance.
The main bathroom’s terrazzo floors are a favourite of The Block 2018 host Scott Cam. 
Wilson Port Phillips agents Jesse Raeburn and Graeme Wilson are marketing the apartment.
<h3><a href="https://www.domain.com.au/3-34-fitzroy-street-st-kilda-vic-3182-2014552048" target="_blank">3/34 Fitzroy Street, St Kilda</a></h3>
Team: Hayden and Sara
<div>
<div><img src="https://www.smh.com.au/content/dam/images/h/1/3/x/q/p/image.imgtype.articleLeadwide.620x349.png/1534212265257.png" alt="Hiding the loo or keeping it separate makes a bathroom feel more luxurious" title="" width="100%"></div>
<div> </div>
<div>
Dubbed The Block‘s most controversial couple, Hayden and Sara’s sub-penthouse apartment features one of the most expensive bathrooms with an expensive brass bath.
At 250 square metres, the apartment is as big as a home.
The apartment is being marketed by Michael Townsend and Josh Stirling at McGrath St Kilda.
</div>
</div>
<h3><a href="https://www.domain.com.au/4-34-fitzroy-street-st-kilda-vic-3182-2014552052" target="_blank">4/34 Fitzroy Street, St Kilda</a></h3>
Team: Norm and Jess
<img src="https://www.smh.com.au/content/dam/images/h/1/3/x/q/l/image.imgtype.articleLeadwide.620x349.png/1534212381488.png" alt="The tub took centre stage in every bathroom on The Block" title="" width="100%">
Put together by Queensland couple Norm and Jess, the luxe guest bedroom features a bed with a velvet bed head. The main bathroom includes a two-metre tall maple tree as well as a stone-looking bath.
Hockingstuart St Kilda agents Sam Inan and Julian Cannata said any visitor would love the welcoming feel and comfort factor in their guest bedroom.
<h3><a href="https://www.domain.com.au/5-34-fitzroy-street-st-kilda-vic-3182-2014552057" target="_blank">5/34 Fitzroy Street, St Kilda</a></h3>
Team: Bianca and Carla
<div>
<div>
<div><img src="https://www.smh.com.au/content/dam/images/h/1/3/x/q/k/image.imgtype.articleLeadwide.620x349.png/1535080505023.png" alt="Bianca and Carla's massive marble slab impressed the judges this week." title="" width="100%"></div>
</div>
</div>
Former professional netballers Bianca and Carla have luxury in their penthouse apartment.
The main bathroom boasts a silver galaxy dolomite stone feature wall.
Bianca and Carla’s master bedroom ensuite also features his and hers vanities.
Michael Papwroth and Peter Kakos at The Agency Melbourne have the listing.
</body></html>

The Block Gatwick St Kilda apartments hit the market at $2 million plus

<html><body>
A three bedroom High Wycombe home sold for $304,000. 
It was sold on 21 July, 2018.
It was sold by Kim Findlay.
Situated at <a href="https://reiwa.com.au/7-galena--court-high-wycombe-4094763/" target="_blank">7 Galena Court</a>, it has a formal family room with split system air conditioning, separate kitchen/meals area, opening via sliding doors onto secondary living/meals area, huge light filled living/meals area recently re-carpeted, master bedroom with split system air conditioning, and upgraded bathroom with separate bath &amp; shower.
It features dedicated WCS, undercover carport which provides access to rear (there is also potential for independent rear access next to the carport), large rear garden shed, the backyard is flat, level and ready for your rear development or awaiting your creative landscaping skills, the house is 145sqm of living, the block is 704sqm with 18.5m frontage.
The home last sold in 20011 for $325,000.
The suburbs median house price is <a href="/developments/high-wycombe-wa-6057">$420,000</a>, according to CoreLogic.
 
</body></html>

YTC SEPTEMBER MORTGAGEE High Wycombe home sold by mortgagee

<html><body>
EXPERT OBSERVER
The franchise model is being disrupted by technology that’s making it easier than ever for individual agents to run their own show more flexibly and efficiently. But could bots – backed by AI, automation and big data – come to the rescue and help the big real estate brands deliver new value to agents? 
To explore this idea, let’s look at a typical day in the life of an agent in 2020 who works at a franchise (we’ll call it Robot Real Estate) that uses bots to delivers a wide range of automation. The strategy behind the AI support is for the franchise to empower their agents to deliver highly personalised service that puts human relationships at the heart of the data, which in turn creates unprecedented loyalty both from their agents, and the buyers and sellers they service.
Meet Tanya. She’s been an agent at Robot Real Estate for the past 10 years. About three years ago, she was considering leaving Robot Real Estate – she felt the fees were too high and locked her into technology that was out of date and clunky to use. It was a lot of money to pay for a desk and a lead database that was usually out of date. 
But then Robot Real Estate introduced an end to end bot-driven infrastructure for agents. And while it took a little getting used to, Tanya now loves it. Because it takes care of all the back-end tasks that used to keep her busy, and allows her to spend her day focused on what she’s passionate about – helping people on their journeys of buying and selling property.
Here's what Tanya’s day looks like:
Wakeup: When Tanya exercises each morning (she’s a 5am Club gal!) her Robot Real Estate assistant (an automated assistant that she fondly calls REVA) reads out her schedule for the day and outlines a list of tasks that she has preset for her bot team. At her request, REVA also reads out profile information of the people she’s going to meet that day so she’s fully informed and pumped for the day. Breakfast:  Tanya has her first client meeting with Jane a buyer. By the end of the breakfast, REVA has sent the buyer a list of suitable properties and inspection times based on their conversation and some background video information on the areas that Jane said she was interested in. 
The bot has tagged the client as originating from the relationship with Tanya and assigned Jane to Tanya in their database. This means that even if another agent finds Jane a home, Tanya will receive a payment to recognise the fact that she introduced her to the agency. 
The bot has also set a calendar entry for Tanya to make a follow up call a few days later. By that time, the automation at the back end will have identified if Jane has clicked on any of the properties in the information that was sent, and recognised how long she has spent on each property and if she shared any of the properties with friends or family, or returned to one or two of them. 
This information will both inform the conversation that Tanya will have with Jane when she follows up and allows the bots to refine future property selections that are sent to her. 
Tanya also encourages Jane to become “identity-authorised”. This will allow Jane to visit any property at the time of her choosing – not just wait for opens. It can also be – if Jane gives permission – linked to her credit approval rating which will give Jane the advantage of pre-approval for loans and a much quicker turn around on her finances when she decides to make an offer on a home. 
Again, regardless of who sells Jane a home, Tanya’s introduction of Jane to the identity authorisation and credit approval process means Tanya will receive a trailing commission payment when Jane transacts.
Early Mornings: In these days of automated contact, Tanya is a big proponent of the personal touch. She uses the first hour or so of every morning to make phone calls to prospects and clients and people she’s sold to recently to see how they’re settling in. She finds people are usually happy to talk first thing or on their commute. 
After each call she dictates outcomes to her REVA who annotates the client data and schedules or carries out follow up actions such as sending property reports, investment analysis, and lookbooks or contracts. She loves the Robot Real Estate Concierge Service that allows her to order thoughtful gifts for her buyers and sellers and send them to their home or office via drone in just an hour or so.
Mid Mornings: On mornings when there is no Robot Real Estate sales meeting, Tanya likes to spend her time creating videos about her local community, helpful information for buyers or sellers, or a roundup on properties that she loves.  Of course, the Robot Real Estate bots can now automatically create both report-styled or video content about her local market, but Tanya is a bit old school. She likes the personal touch, will sometimes interview people in her community and has fun being on camera. 
When the videos are shot, she alerts her REVA to the new content, and the bot automatically schedules it to social media and targets it to an appropriate audience based on the latest insights from her social media pages. REVA will also tag anyone she interviewed. 
REVA also inserts content into her email newsletters to keep her click through rates high. In addition, Tanya uses this time to direct the Virtual Reality video of properties she’s selling because she cares about the details. 
It’s also the time in her day when she reviews the sales collateral the bots have created for her sales listings – those bots are truly amazing in how they assemble the ads, online listings and reports, but Tanya has an experienced eye and she likes to think that it’s her attention to the personal details that makes the difference. It’s also a great way for her to familiarise herself with her listings and it boosts the quality of her data within the Robot Real Estate system which in turn improves her micropayment commissions.
Lunchtime: Tanya has an Open Home. Of course, they’re not as necessary now with so many people being accredited to inspect the property at a time that suits them securely, and with the availability of VR. 
But Tanya likes the ceremony of an Open being held at least a few times during the sales period – it signals to the neighbourhood that a property is on the market which can often lead to surprise offers. You never know where a passive buyer might be. And it’s a great way to meet the neighbours, who in turn can become valuable sales leads to Tanya. 
Everyone who does enter the property is automatically identified through their mobile phone and added to the Robot Real Estate database – that’s because Tanya is so good at making people feel at ease and learning about them. Even if they’re unlikely to buy or sell for many years, Tanya’s initial discovery is at the root of their relationship with Robot Real Estate and allows their experience with Robot Real Estate and Tanya to be truly personalised.
Afternoon: Tanya has a meeting with a potential vendor, Rebecca. Rebecca has a lovely home but wants to upgrade and there’s a few small repairs that if done, would help the home get a better price. 
During her visit, Tanya shoots both video and photos of each room, paying particular attention to areas that she thinks might need some work to bring up to sales presentation stage. Her REVA captures these and attaches them to the address record, and with Rebecca’s permission, sends them to Robot Real Estate’s Presentation Concierge system, which requests quotes from the appropriate trades and services. 
By the end of the visit, Tanya is able to provide Rebecca with a detailed quote on the work that would need to be done to the property, the time it would take, and a schedule for the sale, including an accurate estimate of the price Rebecca can expect with Tanya’s clever marketing approach. 
Rebecca’s other alternative is that Robot Real Estate buy the property outright and provide her with the funds in just 48 hours. Such an approach means a sale price that is below what was quoted, but some clients like the speed and certainty of the approach, especially if they have personal circumstances that mean they have to move by a deadline.
End work: Tanya ends her day with another round of phone calls to clients, finalising negotiations and giving contracts the once-over just to ensure she’s across the details. A couple of days a week, she has evening appointments scheduled with vendors. Tanya’s REVA gives her an update on all the reports and contacts that have been sent and actioned across the day and allows her to set any new tasks. 
Sometimes she does this by reading the report, sometimes if she’s busy or in the car, she’ll ask REVA to read it out and she’ll instruct the bot verbally. 
She loves the AI assisted support that she’s offered by Robot Real Estate – it’s really changed her life by removing so much of the busy, repetitive work that used to stress her out. It allows her to focus on the human connections that are the most important part of her job at a price point and uptake level that she would never have been able to afford, or get her brain around on her own. 
Robot Real Estate supports its sales teams and its AI strategy with regular training offsites and sales rallies. These provide Tanya and the Robot Real Estate team with the opportunity to learn new skills, re-energise their sales focus, and hear about new trends and the systems the franchise is trialling. 
There are also always personalised intensive training times in the schedule, when Tanya is taught to become proficient in the new skills needed. Her training is tracked and is tied to her commission levels. 
While the additional money that comes from doing the training is nice, Tanya feels that the value really comes from segmenting the time this way as it is extremely effective. It’s made her feel more secure about trying new things and gives her time to practice and become familiar with new systems. This makes her more confident about using the coaching tools in the system which step her through whenever she is out on the road and needs a quick refresher. 
Since introducing the AI, Robot Real Estate’s profits have soared, buoyed by reduced running costs, increased agent retention and significantly improved customer loyalty and brand value awareness that has really driven their sales and revenue. 
It’s also opened up new revenue streams to the franchise, which has now significantly increased its referrals revenue from mortgage brokers, financial institutions, insurance and credit score companies. 
The new approach by Robot Real Estate has removed the stressful “busy-ness” from the life of Tanya and their other agents. This lets them get more done in less time, while at the same time providing a significantly higher level of personalised service to buyers and sellers that has won awards.
Agents have reported feeling significantly less stress and love that the REVA support and back end systems allow them to genuinely switch off and focus on family time when they are home, while feeling secure that the details are being taken care of.
Could this be the future? What do you think?
Kylie Davis is the head of marketing for property services at CoreLogic.
</body></html>

Could robots rescue real estate franchises? Kylie Davis

<html><body><div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
A Hampton trophy home was passed in at auction last weekend. 
The final bid for <a href="https://www.realestate.com.au/property-house-vic-hampton-128976254" target="_blank">20 Bridge Street</a> was $3.1 million following a vendor bid of $3.05 million which was not enough for the owners.
There was only a single bidder among the 20 attendee's present.
Despite a later offer of $3.125 million the owners didn't budge, holding to their $3.2 to $3.3 million price guide for the three bedroom one bathroom home.
The home located in the Sandringham's Gypsy Village area close to cafe's, shopping and public transport.
<img src="https://www.urban.com.au/images/2018/8/28/Sandy%20village%202.JPG" alt="">
The 499 sqm holding last sold for $1,212,500 in 200.
</div>
</div>
</div>
</div></body></html>

Hampton trophy home passes in just under price guide

<html><body>
Sutherland had the poorest results at auction of any Sydney region on the weekend, discounting the Central Coast, with a clearance rate of just 31 percent of its 16 notified results.
It compared to last week's results where they had a 62 percent success rate from its 31 properties.
The 31 percent is much weaker than the overall Sydney clearance rate of 59 percent which has been showing improvements recently.
There are still seven unreported results from the Shire yet to be added to the tally.
<img src="https://www.urban.com.au/images/2018/8/27/Sutherland%201.JPG" alt="">
The 3 Loretta Avenue, Como (pictured above) offering was passed in at auction.
The five bedroom three bathroom home has $1.6 million hopes.
The 563 sqm holding last sold in 2009 for $450,000.
<img src="https://www.urban.com.au/images/2018/8/28/Sutherland%203.JPG" alt="">
The 60 Siandra Drive, Kareela (pictured above) offering which was passed in without price disclosure.
The four bedroom two bathroom home has been listed $1,149,000 hopes
The 618 sqm holding is currently listed by Stuart Castle Real Estate.
<img src="https://www.urban.com.au/images/2018/8/28/Sutherland%204.JPG" alt="">
The 45 Raglan Road, Miranda (pictured above) was passed in with no price disclosure.
The five bedroom three bathroom home had $2.3 million hopes.
The 792 sqm holding last sold in late 2003 for $660,000.
<img src="https://www.urban.com.au/images/2018/8/28/Sutherland%205.JPG" alt="">
The 140 Holt Road, Taren Point (pictured above) offering which was passed with no bids.
The four bedroom two bathroom home has a price guide of $1.15 to $1.25 million
The 637 sqm holding last sold in 2002 for $430,000.
<img src="https://www.urban.com.au/images/2018/8/28/Sutherland%206.JPG" alt="">
There was a sale, 9B Edinburgh Crescent, Woolooware (pictured above) for $1,290,000.
The three bedroom one bathroom home was sold by Purplebricks NSW agent Joshua Singer.
The 655 sqm holding sold after just 30 days on the market.
</body></html>

Sutherland Shire auctions didn't fare well for weekend offerings

<html><body>
The Sydney hoarder’s house, deplete of the mummified body found earlier this year, sold at weekend auction for $2.07 million.
<div class="x_mcntstory-content">
The result was $270,000 above the $1.8 million reserve for the Greenwich offering.
The purchasers of <a id="x_mcntLPlnk337040" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/sold/property-house-nsw-greenwich-128954682" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">31 Greendale Street</a> were an expatriate family in Singapore who beat off keen bidding from a young Marrickville couple.
There are plans to initially renovate and rent it out until it is knocked down.
The skeletal remains of a suspected murder victim Shane Snellman were found rolled in carpet inside a bedroom in June with police revealing the corpse had likely been there for at least a decade.
The owner Brian Roberts, who died of a heart attack last year, had bought the freestanding double-brick house on its 557-square-metre block, in 1991 for $200,000. 
The police theory was Snellman, who had suffered several injuries, was trying to rob the house when Roberts killed the intruder.
The Sunday Telegraph reported the notoriety, cobwebs, peeling paint, disgusting kitchen and mouldy bathroom was no discouragement for the 11 registered buyers.
Domain suggested it was like a macabre museum exhibit.
Sydney's top sale was nearby when <a id="x_mcntLPlnk514211" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/sold/property-house-nsw-greenwich-128928586" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">15 Vista Street, Greenwich </a>sold pre-auction for $3.55 million.
Built in 1935 by architect, Nigel Ashton, the home had been by the same family for 83 years.
It came with views of the harbour bridge and the city skyline. 
Sydney's highest sale under the hammer result was at Willoughby where $3,265,000 was paid for <a id="x_mcntLPlnk24636" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/property-house-nsw-willoughby-128925434" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">3 Hollywood Crescent</a>.
It was a 1930s bungalow last sold at $1.95 million in 2009.
<div class="x_mcntpage" title="Page 1">
<div class="x_mcntsection">
<div class="x_mcntlayoutArea">
<div class="x_mcntcolumn">
There were 717 auctions held in Sydney returning a preliminary clearance rate of 59.1 per cent. One year ago, 832 auctions were held and the clearance rate came in at 67.4 per cent.
In Melbourne, a preliminary auction clearance rate of 58.6 per cent was recorded across 898 auctions on the weekend. This time last year, 1,124 auctions were held, returning a clearance rate of 72.3 per cent.
<img src="https://www.urban.com.au/images/2018/8/27/CoreLogic%20Greenwich.JPG" alt="">
Melbourne's top sale was also secured ahead of its Saturday scheduled auction, a South Yarra home renovated under the guidance of INARC design.
It was the $6.25 million sale of <a id="x_mcntLPlnk447497" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/sold/property-house-vic-south+yarra-128158838" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">23 Airlie Street, South Yarra</a>, which had an asking price of $8.25 million earlier this year.
It had been listed this time with $6.5 million hopes through RT Edgar. 
Under the hammer, Melbourne's top result was in Camberwell when <a id="x_mcntLPlnk615615" class="x_mcntOWAAutoLink" href="https://www.realestateview.com.au/real-estate/12-derby-street-camberwell-vic/property-details-sold-residential-12017091/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">12 Derby Street</a> sold for $3.8 million through Jellis Craig.
</div>
</div>
</div>
</div>
The indicative selling price had been $3,500,000 to $3,800,000 for Gladstone Villa, a graceful four bedroom 1889 Victorian residence.
Not far away a 1930s Canterbury changed hands for $1.91 million for the first time after competition between five bidders at its Kay &amp; Burton auction.
Given its one family ownership, Laurel-Leigh, the heritage-protected three-bedroom home <a id="x_mcntLPlnk376881" class="x_mcntOWAAutoLink" href="https://www.realestateview.com.au/real-estate/26-maysia-street-canterbury-vic/property-details-sold-residential-12021336/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">at 26 Maysia Street</a>, came with intact lead lighting, stucco walls, ornate ceilings, terrazzo flooring and bow window.
Its pre-auction price guidance was $1.7 million to $1.8 million.  
There were five bidders.
<div class="x_mcntpage" title="Page 1">
<div class="x_mcntsection">
<div class="x_mcntlayoutArea">
<div class="x_mcntcolumn">
On the latest weekend of winter, CoreLogic calculated 1,909 homes were taken to auction across the combined capital cities, up from 1,684 over the previous week. 
"Auction volumes have slowly started to increase over the last couple of weeks however current volumes remain lower than this time last year when 2,270 auctions were held," Corelogic auction analyst Kevin Brogan noted.
"Through winter, the number of homes taken to auction has been tracking roughly 20% lower than a year ago, highlighting a substantial weakening in vendor confidence driven by the softer housing market conditions and consistently lower clearance rates."
Preliminary results show a clearance rate of 57.9 percent this week, increasing from last week’s final clearance rate of 53.3 per cent, although this will revise as the remaining results are collected. 
Over the same week last year the final clearance rate was 68.3 percent.
Canberra's 66.7 percent weekend clearance rate result was the top selling capital city.
</div>
</div>
</div>
</div>
</div>
</body></html>

Greenwich tops Sydney weekend auctions

A who's who of Australian surfing, business and entertainment has emerged on title records following the completion of Esprit Rainbow Bay, the latest boutique beachfront apartment development by former professional surfer Paul Gedoun's S&amp;S Projects.

The completed project has attracted an enviable collection of owners, many with long-standing ties to the southern Gold Coast and the surf culture that has helped define Rainbow Bay and neighbouring Kirra for generations.

Given Gedoun's own background in surfing, it perhaps comes as little surprise that some of Australia's most recognisable surfers have chosen to buy into the development overlooking one of the country's most celebrated stretches of coastline.

Pezet Matheson directors Jayde Pezet and Todd Matheson launched the project in late 2021, and have managed the sales campaign all the way through to its sell-out and recent completion.

<img alt="Esprit" data-entity-type="file" data-entity-uuid="08fc6261-b84e-4b09-8a44-66d3067fd0d1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-29%20at%208.51.05%E2%80%AFAM.png?VersionId=4AOcb6ETZwNUnMPdTtz1B3pZAIB_jgZ2" />

Former world champion Mick Fanning, who grew up in Coolangatta, secured an apartment in 2023. He paid&nbsp;$2.07 million. Last year he sold his Bilinga home for over $16 million.

Three-time world champion Joel Parkinson also purchased in the development, alongside big wave surfer Mark Mathews. Mathews bought the most expensive apartment in the building, spending just over $4 million.

Joining them is Rip Curl founder Doug Warbrick, whose company helped shape Australia's global surfing industry over the past five decades.

The appeal of Rainbow Bay has extended well beyond the surfing community.

International DJ Paul Fisher purchased an apartment through his investment vehicle, YLB Developments, an abbreviation of his trademark phrase "You Little Beauty".

The purchase comes as Fisher and his wife Chloe are developing their own luxury apartment project further north in Palm Beach. Their boutique beachfront development, Pescado, comprises just seven apartments on Jefferson Lane, which start from just shy of $6 million. The couple intend to retain the two-level penthouse as their Australian base between international touring commitments.

Melbourne Storm coach Craig Bellamy and his wife Wendy have also invested in Esprit, purchasing two apartments after spending decades holidaying on the southern Gold Coast. They also have a luxury apartment in Joe Adsett's Rockpool, less than 400m away from Esprit.

<h2>Boutique project draws owner-occupiers</h2>

Esprit launched in 2021 and sold strongly, with buyers drawn to its boutique scale, beachfront position and contemporary design.

The completed development comprises 94 apartments across 11 levels, offering expansive floorplans designed primarily for owner-occupiers rather than the investor market.

Crowning the building is Club Esprit, pitched as being the Gold Coast's first residential rooftop wellness centre. The roof features a&nbsp;25 metre magnesium lap pool, which is surrounded by wet daybeds and poolside cabanas,&nbsp;multiple barbecue areas,&nbsp;a yoga and relaxation play lawn, and a private dining room with a kitchen scullery, bar, lounges, and an outdoor terrace.

The wellness centre is&nbsp;fully equipped with a Technogym, ice bath, infra-red sauna, steam room, thermal room, and treatment room. The roof has views spanning&nbsp;Rainbow Bay, Snapper Rocks and the Pacific Ocean.

<h2>S&amp;S Projects continues to shape Rainbow Bay</h2>

S&amp;S Projects founder Paul Gedoun has become one of the key figures behind Rainbow Bay's evolution over the past several years.

After establishing S&amp;S Projects, Gedoun has focused on delivering lifestyle-driven apartment developments designed primarily for owner-occupiers seeking a permanent coastal home.

Esprit is Gedoun's third completed project in Rainbow Bay, following Flow and Awaken, both of which achieved record prices for the suburb.

He is now delivering <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, a 38-apartment development on Boundary Street that is currently selling, and has no plans to leave the precinct anytime soon. S&amp;S Projects has also lodged plans for its fifth Rainbow Bay development, an 88-apartment project on Boundary Street featuring a strong wellness focus.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">First look: S&amp;S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street</a>

&nbsp;

&nbsp;

&nbsp;

Joel Robinson

Who's who of buyers revealed as Esprit Rainbow Bay settles

Nature Based Cities (NBC), the not-for-profit organisation focused on improving biodiversity and nature outcomes in urban development, has launched its latest industry design guidelines and accreditation framework, this time targeting precinct-scale residential communities.

The move extends NBC’s influence beyond its initial focus on medium and high-density residential developments. Several projects have already achieved NBC accreditation since the launch of its Medium &amp; High-Density Residential Guidelines in early 2025.

The expansion into masterplanned communities and new residential precincts reflects the growing need for stronger nature-positive benchmarks as Australia’s outer suburban growth corridors continue to expand at pace.

Paul Hameister OAM, NBC Founder and the Executive Chairman of Melbourne developer Hamton who itself leans heavily into nature and biodiversity in its developments, says the&nbsp;nature-first approach to mitigate the effects of climate change has become standard in other parts of the world such as the UK, but Australia is lagging.&nbsp;Australia’s environmentally sustainable design (ESD) rating tools have no minimum mandatory requirements for living landscapes.

“We’ve always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren’t there,” Hameister says. “In Australia, you can have a five-green-star rated building that’s concrete and glass with not a blade of grass. 
 
“The focus is on reducing emissions, which is laudable, but there hasn’t been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities.”

He says that having now&nbsp;made good progress in supporting developers of medium and high-density residential projects, NBC is now looking to bolster better nature-based decision-making and recognise developers of greenfield projects in the outer ring and large inner-ring brownfield precincts, who want to champion nature and living landscape as a defining feature.

Since 2022, the not-for-profit has sought to remove the roadblocks preventing developers from incorporating nature and living landscapes into their projects, shifting the conversation from the reduction of emissions and grey infrastructure, toward recognising nature as an essential infrastructure.

The New Communities Design Guidelines and Scorecard arm developers with the tools needed to deliver a nature positive outcome for their new communities. Intended to be adopted at the outset of the planning process, the guidelines are designed to help create communities that are cooler, healthier and more resilient while also enhancing social wellbeing and long-term economic value.&nbsp;

New Communities developers seeking accreditation will be independently assessed across a range of key criteria including ecology, tree canopy, biodiversity, and walkability. Once the masterplan is complete and submitted for approval, the scorecard is formalised based on proposed outcomes. Projects that meet the NBC criteria will receive either Commended or Exemplary accreditation outcomes, creating a clear benchmark for nature-positive new communities in Australia.&nbsp;

Janis Fischer, Director at Tract and NBC Advisory Council member, said the development of new communities in our suburbs can have a substantial impact on nature and biodiversity.

"By incorporating nature-based design principles at the inception of a project, developers and their design teams can achieve nature positive outcomes that are good for both people and the planet.’’&nbsp;

NBC accredited New Community projects will gain access to NBC branding and marketing tools to help communicate their nature-based credentials to purchasers and the broader market.&nbsp;

Nature Based Cities: A new Australian benchmark for developing nature-positive new communities

Apartment buildings are increasingly being designed around how people actually live day to day, not just how they want a building to look.

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.

Online shopping has become one of the clearest examples of that change.

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.

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.

That is why secure parcel infrastructure is increasingly being considered alongside more familiar apartment amenities.

<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>

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.

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.

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.

As buyer expectations evolve, secure parcel delivery is becoming part of the same design conversation as flexible working, sustainable transport and resident wellbeing.

It is one less thing for residents to worry about, and another example of apartment design adapting to the way Australians now live.

Apartment design is adapting to the way Australians shop

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.

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.

SRM Residential agent Ben Stewart said buyer demand throughout June reflected a mix of improving market confidence and longer-term thinking from owner-occupiers.

"We're seeing strong demand from owner-occupiers who are taking a longer-term view," Stewart said.

"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."

[smartcode_project:default project_id=134323 project_image_fid=367129]

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.

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.

Every apartment features high-end Calacatta marble, bespoke joinery, and fully integrated appliances.

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.

[smartcode_project:default project_id=134323 project_image_fid=6393]

Rothelowman Principal Ben Pomroy said the project was designed to make the most of its unique position overlooking the harbour.

"The Walden is a celebration of all things beautiful, curated for those who expect nothing less than exceptional," Pomroy says.

"Meticulously designed entertaining spaces and light-filled living areas that capitalise on capturing the natural beauty of Sydney's iconic harbour."

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.

[smartcode_project:default project_id=134323 project_image_fid=6402]

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.

Founder and CEO Andrew Hrsto previously said the rarity of the Walker Street site made it an opportunity the company could not overlook.

"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.

[smartcode_project:default project_id=134323 project_image_fid=6383]

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.

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.

The Walden is currently under construction and is scheduled for completion in 2028.

[smartcode_project_cta:default project_id=134323]

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

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.

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.

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.

<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" />

&nbsp;

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.

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.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

"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."

"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."

<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" />

DKO said the design had been shaped by the site's landscape setting and surrounding open space.

"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."

"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."

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.

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.

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.

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

Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News