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A development opportunity in South Yarra’s Forrest Hill precinct is on the market with expectations for more than $5 million.
The property, 30-32 Claremont Street, is marketed by Teska Carson is situated on the eastern side of Claremont Street.
It features a 750 square metre, two level, brick, office/warehouse and four car spaces on a 490 square metre site zoned Mixed Use with 12 metres frontage to Claremont Street.
Teska Carson’s Michael Ludski said this property represents one of the last remaining high-density development opportunities within this tightly held, prime inner-city location, only three kilometres from the Melbourne CBD.
"The property falls within the former Forrest Hill industrial area, which has become a very highly regarded precinct, underlined by its extraordinary transformation in recent years on the back of significant residential and commercial development within the immediate South Yarra vicinity,’’ he said.
"Melbourne’s nation leading population growth, particularly in the coveted inner-eastern suburbs, was the key driving force that would continue to provide developers with quality opportunities.
"Melbourne’s population growth has driven a very strong residential and commercial development market in Melbourne in recent years, especially in areas that offer essential amenity including the best retail, transport and schooling options.
"South Yarra has been at the forefront of that development growth and will continue to be as long as blue-chip opportunities such as Claremont Street remain available."  
The property will be sold subject to a 12 month lease from October.
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j.ballantyne1990-6AQqhLzZaK

Blue chip development site at South Yarra

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ASIC has disqualified Ross Russo of New South Wales from being an approved self-managed superannuation fund (SMSF) auditor.
ASIC determined that Mr Russo had breached fundamental independence and audit requirements.
Given the nature of these breaches, it was considered appropriate to disqualify Mr Russo.
ASIC found that Mr Russo had breached:
<ul>
<li>auditor independence requirements of APES 110 Code of Ethics for Professional Accountants, where he audited the fund of a close family member;</li>
<li>audit evidence requirements of Australian auditing standards.　</li>
</ul>
ASIC Commissioner John Price said, “SMSF auditors play a fundamental role in promoting confidence in the SMSF sector so it is crucial that they adhere to ethical and professional standards. ASIC will continue to take action where the conduct of SMSF auditors is inadequate.”
SMSF trustees and members can check whether their auditor is registered, or whether a person has been disqualified, by searching ASIC's SMSF auditor register at <a href="https://www.propertyobserver.com.au/connectonline.asic.gov.au" target="_blank">connectonline.asic.gov.au</a>
Information about Mr Russo was referred to ASIC by the Australian Taxation Office (ATO) under section 128P of the Superannuation Industry (Supervision) Act 1993 (the SIS Act).
From 1 July 2013, the SIS Act required all auditors of SMSFs to be registered with ASIC.
This was to ensure that all SMSF auditors meet the base standards of competency and expertise.
ASIC and the ATO work closely together as co-regulators of SMSF auditors.
The ATO monitors SMSF auditor conduct and may refer matters to ASIC for possible action such as disqualification or suspension of their registration.
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SMSF auditor disqualified by ASIC

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A 1958 sqm land development at Brighton has been sold for $11 million.
Located at 448 St Kilda Street, the site was purchased by an offshore Chinese investor.
It sold through Savills agents Benson Zhou, Julian Heatherich and Dorothy He.
<a href="https://www.propertyobserver.com.au/images/2017/08/24/Screen%20Shot%202017-08-24%20at%2010.15.32%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/08/24/Screen%20Shot%202017-08-24%20at%2010.15.32%20am.jpg" alt="">
It is opposite Head Street Reserve with Elwood Beach and Port Philip Bay not far from it.
The CBD is only 8.5 kilometres away.
It has approval for a high-end low-rise residential development.
Mr Zhou said "Brighton continues to stand out as one of the highly sought-after suburbs by savvy developers who look to capitalise on the ongoing demand for luxury projects.
"The recently approved permit generated a significant windfall for the vendor who paid $6,350,000 for the site 3 years earlier."
<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/2017/08/24/Screen%20Shot%202017-08-24%20at%2010.15.18%20am.jpg" alt="">
Mr Heatherich said that developers were continuing to snap up luxury projects at every opportunity, being sold immediately after our recent sale of a luxury project at 553-555 Burke Road, Camberwell for $9,188,888 to local developer Kokoda.
He said the design of the project and its location in close proximity to Elwood beach, Ormond Road retail precinct and Brighton village was the driving force that ultimately attracted several offers before the public launch.
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Brighton land development sold for $11 million through Savills

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CoreLogic recently released the June 2017 Mapping the Market Report. 
The report looks at how the cost of housing has shifted across Australia’s capital cities by suburbs over the past five years by comparing thematic maps which show suburb median values.  
Over the five years to June 2017, there has been a significant decline in the number of suburbs with a median value below $400,000 while there has been a significant increase in suburbs with values above $1 million. 
The decline in lower value housing and rise in more expensive housing is most prevalent in Sydney and Melbourne however, it is also prevalent to a more moderate degree in other capital cities.
The following maps show the suburb median house values across the capital cities in June 2012 and June 2017. 
The circles on the map represent distances of 10 kilometres, 20 kilometres and 50 kilometres from the capital city GPO.
<a href="https://www.propertyobserver.com.au/images/2017/08/11/Screen%20Shot%202017-08-11%20at%201.07.36%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/08/11/Screen%20Shot%202017-08-11%20at%201.07.36%20pm.jpg" alt="">
In June 2012, 21.3% of Sydney suburbs had a median house value of more than $1 million, by June 2017 55.7% of suburbs had a median house value in excess of $1 million while only 8.7% of suburbs had a median value below $600,000 and most were located more than 50 kilometres from the CBD.
<a href="https://www.propertyobserver.com.au/images/2017/08/11/Screen%20Shot%202017-08-11%20at%201.07.46%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/08/11/Screen%20Shot%202017-08-11%20at%201.07.46%20pm.jpg" alt="">
In June 2012, 9.5% of Melbourne suburbs had a median house value in excess of $1 million and by June 2017 that figure had increased to 32.6% of suburbs. 
On the flip-side, 24.3% of Melbourne suburbs in June 2012 had a median house value below $400,000 compared to just 2.7% by June 2017.
<a href="https://www.propertyobserver.com.au/images/2017/08/11/Screen%20Shot%202017-08-11%20at%201.07.58%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/08/11/Screen%20Shot%202017-08-11%20at%201.07.58%20pm.jpg" alt="">
In June 2017 only 5.9% of Brisbane suburbs had a median house value of more than $1 million compared to 1.6% in June 2012. 
In June 2017, 23.2% of suburbs had a median house value of less than $400,000 compared to 34.5% in 2012.
<a href="https://www.propertyobserver.com.au/images/2017/08/11/Screen%20Shot%202017-08-11%20at%201.08.10%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/08/11/Screen%20Shot%202017-08-11%20at%201.08.10%20pm.jpg" alt="">
In Adelaide, 43.0% of suburbs had a median house value of less than $400,000 in June 2012 compared to 25.8% in 2017. 
37.2% of Adelaide suburbs had a median house value of more than $600,000 in June 2017 compared to 20.6% five years earlier.
<a href="https://www.propertyobserver.com.au/images/2017/08/11/Screen%20Shot%202017-08-11%20at%201.08.26%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/08/11/Screen%20Shot%202017-08-11%20at%201.08.26%20pm.jpg" alt="">
7.8% of Perth suburbs had a median house value of more than $1 million in June 2012 compared to 11.1% by June 2017. 
Only 17.7% of Perth suburbs had a median house value of less than $400,000 in June 2017 and this figure was down from 29.0% five years earlier.
<a href="https://www.propertyobserver.com.au/images/2017/08/11/Screen%20Shot%202017-08-11%20at%201.08.38%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/08/11/Screen%20Shot%202017-08-11%20at%201.08.38%20pm.jpg" alt="">
In June 2012, the majority (67.4%) of Hobart suburbs had a median house value of less than $400,000 however, by June 2017 43.6% of suburbs had a median below $400,000. 
Although the number of suburbs with typical values below $400,000 has reduced over the past five years, 89.4% of the cities suburbs have a median house value below $600,000 and no suburb has a median value in excess of $1 million.
<a href="https://www.propertyobserver.com.au/images/2017/08/11/Screen%20Shot%202017-08-11%20at%201.08.51%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/08/11/Screen%20Shot%202017-08-11%20at%201.08.51%20pm.jpg" alt="">
Darwin has suffered through a lack of more affordable housing for a number of years now with only 1.8% of suburbs having a median house value below $400,000 in June 2017, down from 1.9% five years earlier. 
54.5% of Darwin’s suburbs had a median house value of more than $600,000 in June 2017 compared to 50.9% five years ago. 
The data highlights that Darwin housing affordability is relatively unchanged over the past five years.
<a href="https://www.propertyobserver.com.au/images/2017/08/11/Screen%20Shot%202017-08-11%20at%201.09.04%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/08/11/Screen%20Shot%202017-08-11%20at%201.09.04%20pm.jpg" alt="">
In June 2012, just 1.1% of suburbs in Canberra had a median house value of less than $400,000, by June 2017 no suburbs sat below the $400,000 threshold. 
The proportion of suburbs with a median value of more than $1 million has shifted from 8.6% in June 2012 to 12.0% in June 2017.
The charts and commentary highlight how the supply of affordable housing has reduced over the past five years. 
The decline in lower priced housing stock is most stark in Sydney and to a lesser but still significant degree in Melbourne. 
The fall in mortgage rates over the past five years has made servicing mortgage debt easier and eat up a lower proportion of household income. 
At the same time there has been little growth in household income but dwelling value in Sydney and Melbourne in particularly have increased significantly. 
For those that own a home and have seen values rise it has created a significant wealth boost while for potential buyers, particularly in Sydney and Melbourne, wages haven’t kept up with value growth which has led to a deterioration in the supply of lower priced housing. 
All of these factors have led to extreme difficulty in saving a large enough deposit to enter into the Sydney and Melbourne housing markets for those that don’t already own. 
While the problems are not so prevalent elsewhere, across all cities the supply of lower priced housing has reduced over the five years to June 2017 highlighting greater difficulty for lower income households to own residential property.
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Affordable housing in Sydney and Melbourne declines in past 5 years

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A Malvern home in Adelaide that attracted 12 registered bidders sold recently for $2.096 million.
The four-bedroom villa at <a href="https://www.realestate.com.au/property-house-sa-malvern-126031982" target="_blank">4 Austral Tce</a>, which sold for $655,000 more than the suburb’s median sale price.
Selling agent Bonnie Whyte of Klemich Real Estate said the property sold to a local Adelaide family.
It was built in 2006, with a versatile floorplan set over two spacious levels.
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Malvern, Adelaide trophy sells for $2.1 million

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Renovations are common in Canberra, according to a recent Herron Todd White report.
The property valuation firm says that Belconnen, Woden Valley and Weston Creek are among the suburbs popular for renovations.
“Buyers looking to renovate in the ACT tend to gravitate towards the outer areas such as Belconnen, Woden Valley and Weston Creek.
“There are also some opportunities in the inner north suburbs of Lyneham, Watson and Downer.
“The majority of these houses were built in the 1960s and 1970s and are on much larger blocks than are available in new suburbs,” the report stated.
“Significant capital growth has occurred recently Herron Todd White says.
“Recently there has been some significant capital growth in these areas and well renovated houses have been selling at a premium.
“In some cases renovators prefer the character of an older house but want the functionality of a modern home.
“This is especially true for original houses built in the 1930s, 1940s and 1950s in suburbs such as Ainslie, Braddon, Campbell and Yarralumla.
“They are relatively small houses however are often on large blocks meaning there is good potential for extension.
“The majority of renovations in the ACT are in the detached housing market.
“Unit renovations have been done however the large supply of new apartments currently on the market has meant that the profits are relatively low for these projects.
Owner-occupiers seem to be the most common to complete renovations on houses in the ACT,” the report commented.
A recently renovated three bedroom house at <a href="https://www.realestate.com.au/property-house-act-holt-125554338">13 Longworth Place</a>, Holt (above) was listed on June for $495,000.
Built in 1972 it has since been sold in July for $490,000.
Another three bedroom house at <a href="https://www.realestate.com.au/property-house-act-chifley-125970806" target="_blank">10 Eggleston Crescent</a>, Chiefley (below) has been listed for $625,000 plus.
Built in 1960 it last sold in 2016.
<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/2017/08/23/10%20Eggleston%20Crescent.jpg" alt="">
A recently renovated five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-act-flynn-125394210">5 Homann Place</a>, Flynn (below) was sold in May for $746,500.
Built in 1975 it last sold for $610,000 in 2010.
<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/2017/08/23/5%20Homann%20Place.jpg" alt="">
Similarly a recently renovated three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-act-palmerston-125393934">21 Bendora Crescent</a>, Palmerston (below) was sold in May for $681,000.
Built in 2001 it last sold in 2002 for $240,000.
<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/2017/08/23/21%20Bendora%20Crescent.jpg" alt="">
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Canberra popular for renovators: HTW

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Nickol has the highest house rental yield in Western Australia, according to Real Estate Investar’s latest report.
The property investment firm says that the rental yield in Nickol is 9 percent.
This is followed by Meredin and Newman with 8 percent and Pegs Creek, Northam and Millars Well with 7 percent.
<table style="width: 432px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="93">
Suburb
</td>
<td valign="top" width="54">
Postcode
</td>
<td valign="top" width="81">
Bedrooms
</td>
<td valign="top" width="117">
Current median rent
</td>
<td valign="top" width="47">
Yield
</td>
</tr>
<tr>
<td valign="top" width="93">Nickol</td>
<td valign="top" width="54">
6714
</td>
<td valign="top" width="81">
3
</td>
<td valign="top" width="117">
$375
</td>
<td valign="top" width="47">
9%
</td>
</tr>
<tr>
<td valign="top" width="93">Merredin</td>
<td valign="top" width="54">6415</td>
<td valign="top" width="81">3</td>
<td valign="top" width="117">$260</td>
<td valign="top" width="47">8%</td>
</tr>
<tr>
<td valign="top" width="93">Newman</td>
<td valign="top" width="54">6753</td>
<td valign="top" width="81">4</td>
<td valign="top" width="117">$400</td>
<td valign="top" width="47">8%</td>
</tr>
<tr>
<td valign="top" width="93">Pegs Creek</td>
<td valign="top" width="54">6714</td>
<td valign="top" width="81">3</td>
<td valign="top" width="117">$350</td>
<td valign="top" width="47">7%</td>
</tr>
<tr>
<td valign="top" width="93">Northam</td>
<td valign="top" width="54">6401</td>
<td valign="top" width="81">2</td>
<td valign="top" width="117">$250</td>
<td valign="top" width="47">7%</td>
</tr>
<tr>
<td valign="top" width="93">Millars Well</td>
<td valign="top" width="54">6714</td>
<td valign="top" width="81">3</td>
<td valign="top" width="117">$350</td>
<td valign="top" width="47">7%</td>
</tr>
</tbody></table>
A three bedroom house at <a href="https://www.realestate.com.au/property-house-wa-nickol-410297655" target="_blank">10 Middleton Way</a>, Nickol (above) is available for $350 per week.
Another three bedroom house at <a href="https://www.realestate.com.au/property-house-wa-karratha-415569667" target="_blank">32B Galbraith Road</a>, Karratha (below) is available for $350 per week.
<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/2017/07/21/32B%20Galbraith%20Road.jpg" alt="">
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Nickol house rental yield at 9 percent: Investar

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Median residential prices in Darwin continues to decline, according to Herron Todd White’s June report.
The property advisory firm says that sales are dominated by first home buyers.
“Buying property in Darwin hasn’t been this affordable in a very long time.
“The present market can be characterised as a buyer’s market with property prices and sales volume depressed in the first quarter of 2017.
“Sales are primarily dominated by first home buyers on the back of government incentives and record low interest rates.
“In contrast, subdued rental growth continues to deter property investors from buying and investing in the local market, instead chasing larger gains in the eastern and southern states.
“The latest quarterly report from REINT for the greater Darwin area (including Palmerston) indicates that the median price has reduced by 9% year on year to $530,000 and 14% to $430,000 for detached dwellings and units respectively,” the report stated.
The majority of existing units in the CBD and inner suburbs are 15 years old Herron Todd White advises.
“Existing units in the Darwin CBD and inner Darwin suburbs of Stuart Park, Larrakeyah, Parap and Woolner offer good value with 3-bedroom, 2-bathroom apartments selling in the range of $360,000 to $500,000 and $300,000 to $450,000 for 2-bedroom, 2-bathroom apartments.
“The majority of this stock is 15 years old and offers a modest standard of accommodation.
“Furthermore, entry level units which are mainly comprised of 2-bedrooms and 1-bathroom can be found in the northern suburbs of Nightcliff, Coconut Grove, Millner and Rapid Creek.
“These units are selling in the price range of $200,000 to $350,000 and offer entry level accommodation.
A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-nt-millner-122612146" target="_blank">16/165 McMillans Road</a>, Millner (above) has been listed for $350,000.
It was last sold in 2006 for $215,000.
“Apart from the inner city and northern suburbs, units in Palmerston also offer an affordable option for those looking for a bargain with current selling prices ranging from $220,000 to $300,000 for a 2-bedroom, 1-bathroom unit and $300,000 to $350,000 for a 3-bedroom, 2-bathroom unit,” the report advised.
Inner Darwin suburbs cost above the $500,000 price bracket Herron Todd White warns.
“On the other side, dwellings in the inner Darwin suburbs are far beyond the reach of purchasers with only half a million to spend, with the latest REINT March quarter 2017 report indicating a median price of $667,500,” the report warned.
Herron Todd White states that northern suburbs are less expensive.
“However, the northern suburbs which are areas between Nightcliff and Karama have a lower median price of $580,000 and $520,000 respectively.
“Older dwellings in the less popular suburbs of Malak and Karama offer affordable entry level home ownership with a ground level 3-bedroom, 1-bathroom dwelling selling in the range of $350,000 to $400,000.
“These dwellings have a fairly basic level of improvement and require some degree of renovation.
“Other more popular suburbs such as Leanyer, Wulagi, Anula and Jingili also provide a host of options but sell at a slightly higher price range from $400,000 to $500,000.
“Further away to Palmerston, Gunn, Rosebery and Durack are some of the suburbs that most buyers would get houses with good value for money, particularly dwellings in the price range of $400,000 to $500,000 with 3-bedrooms and 2-bathrooms,” the report stated.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nt-durack-125752690" target="_blank">13 Deakin Place</a>, Durack (below) has been listed for $459,000.
Built in 2000 the property was last sold in 2006 for $390,000 and in 2002 for $110,000.
<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/2017/07/25/13%20Deakin%20Place.jpg" alt="">
New land developments have a low median price Herron Todd White commented.
“In terms of purchasing your own block of land and building a new dwelling, the newly developing suburb of Zuccoli offers affordable land options with prices as low as $100,000 or house and land packages from builders as low as $450,000.
“We expect property prices to remain depressed for the remainder of 2017, with minimal evidence of stabilisation in the form of increased transactions.
“A combination of factors has led to the sustained slowing down in the Darwin economy, such as the winding down of the INPEX LNG project and a shrinking of the local Territory population.
“The inner city unit market has been one of the worst hit segments, with a considerable supply still applying significant downward pressure on prices.
“These conditions are compounded by a lack of investors entering the market, with subdued rental conditions likely to continue in the short to medium term.
“Overall, the current property market presents a great opportunity for purchasers looking to secure a property,” the report commented.
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First home buyers dominate Darwin residential sales: HTW

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Local and non-local investors are strong in Tamworth, according to Herron Todd White’s latest August report.
The property investment firm says that local investors tend to pick properties that are in a good location and have average rent return.
“The Tamworth region has a strong investment sector with both local and non-local investors taking part.
“The trend for local investors is to buy a safe property (good location, average rent return and lower risk).
“On the other side we see non-local investors being more risky, with a focus on higher rent returns which tends to be properties in less desirable areas with returns of up to 8% gross but less capital gain,” the report stated.
Non-local investors are starting to invest more in new subdivisions Herron Todd White advises.
“There has also been a notable increase in non-local investors investing in new subdivisions that are entirely aimed at outside investors.
“These sub-divisions become a less desirable location due to the lack of owner-occupiers and so far have appeared to enjoy little in the may of increased market value.
“Local investors operate within a large price range depending on their financial capacity with investments occurring from around $200,000 all the way to $600,000.
“Non-local investors are a bit more constrained with their investments with the lower bracket being around $150,000 (parts of West Tamworth) up to around $500,000.
“Each price point represents a different goal for the property with the lower end focusing on higher rental yields and the upper end focused on capital growth,” the report advised.
Tamworth’s continued expansion means that investors will now have to consider capital gains when purchasing properties Herron Todd White says.
“With Tamworth continuing to expand and doing quite well, the strategy of medium price point with average rental return but opportunity for capital gains seems to be the better strategy of the two.
“The reason for this is that with an average return of 5% to 6% gross on these properties, the return is still better than capital cities and it provides less risk than higher yield properties.
“Over the past 12 months we have seen an increase in investor activity within the Oxley Vale area as there is opportunity to buy both new and established homes within an expanding suburb that is not too expensive.
“Nice established homes can be purchased for $300,000 and enjoy a return of roughly 5.5% gross.
“The continual expansion of Tamworth makes investors a vital part in allowing it to grow, as more people come to town and require accommodation.
“At this time there has been minimal to no impact on first home owners from investors, due to the affordability of Tamworth,” the report commented.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-tamworth-126074126" target="_blank">20 Robyn Street</a>, Tamworth (above) has been listed for $275,000.
Built in 1950 it was last sold in 2013 for $226,500.
Another three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-tamworth-126043098" target="_blank">6 Wentworth Place</a>, Tamworth (below) has been listed for $279,000.
<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/2017/08/04/6%20Wentworth%20Place.jpg" alt="">
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Investment in Tamworth strong from both local and non-locals: HTW

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ASIC has permanently banned former financial adviser Neil Bruce Trower from providing any financial services.
Mr Trower is a former representative of Millennium 3 Financial Services Pty Ltd (M3), and a former employee of Lifestyle Financial Services (Qld) Pty Ltd a corporate representative of M3, who provided risk advice from the outer Brisbane suburb of Cashmere.
M3 is the holder of an Australian financial services licence and is ultimately owned by Australia and New Zealand Banking Group Limited (ANZ).
ASIC found that between August 2015 and December 2015, Mr Trower had:
<ul>
<li>not complied with a financial services law by failing to give a number of his clients a Statement of Advice, as required, at the time he provided them with oral financial advice; and</li>
<li>applied the signatures of a number of clients to both internal and external documents for the purpose of passing an internal compliance audit.</li>
</ul>
Further, ASIC found Mr Trower's conduct to be dishonest, as he did not tell the affected clients that he had applied their signatures to documents.
He submitted these documents to the internal audit team knowing that the team would rely on the documents as being genuine during the conduct of the audit.
The M3 audit team identified the signature irregularities during an internal audit of Mr Trower's files and reported them to ASIC.
ASIC Deputy Chairman Peter Kell said, "Certain compliance requirements are in place for advisers to ensure they are meeting their obligations to clients, and to ensure they act honestly and with integrity.
"Anyone whose conduct falls short of these standards will be removed from the financial services industry."
Mr Trower has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC's decision.
The banning of Mr Trower is part of ASIC's Wealth Management Project. The Wealth Management Project was established in October 2014 to lift the standards of major financial advice providers.
The Wealth Management Project focuses on the conduct of the largest financial advice firms (NAB, Westpac, CBA, ANZ, Macquarie and AMP).
ASIC's work in the Wealth Management Project covers a number of areas including:
<ul>
<li>working with the largest financial advice firms to address the identification and remediation of non-compliant advice; and</li>
<li>seeking regulatory outcomes, where appropriate, against licensees and advisers.</li>
</ul>
As part of its Wealth Management Project, ASIC has banned 38 advisers from the financial services industry.
Two adviser bannings are the subject of appeals.
</body></html>

ASIC bans former Cashmere, Brisbane financial adviser over fake signatures

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

&nbsp;

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[smartcode_project_cta:default project_id=145590]

Staff reporter

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