<html><body>
A water-view Mosman mansion sold at auction through Simeon Partners estate agents Richard Simeon and Adette Cao on March 6, 2020.
The <a href="https://www.realestate.com.au/sold/property-house-nsw-mosman-132985494" target="_blank">Bullecourt Avenue property</a>'s final price is confidential, states Mr Simeon, but "I can say that it sold comfortably in the price guide of $5 million to $5.5 million." 
The five-bedroom, four-bathroom home features a self-contained private accommodation all on one level with a wraparound balcony, water-facing open plan living and dining zones. 
Rebuilt in 2000, the three-storey home has a classical touch, showcasing an in-wall gas fireplace in the lounging area, Juliet balcony in the Master suite.
The 506 sqm block has an easy-care, small level garden, entertaining terrace, and a large resort-style swimming pool embraced by foliage and sundecks with an outdoor shower.
Indoor, the house is fitted with engineered American Oak floorboards, plantation shutters and a home theatre with integrated sound system. 
The home was last sold in 2017 for $4,255,000.  
In Mosman, 46 other five-bedroom houses have recently been sold, reports Domain. 
According to Realestate.com.au, a similar five-bedroom, three-bathroom house on Pretoria Avenue in the area sold for $5,850,000 last December. 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Mosman water-view mansion sold at auction

<html><body>
An elegant Parkside house in Queens Park sold at auction this weekend for $4,650,000.
The <a href="https://www.realestate.com.au/sold/property-house-nsw-queens+park-132909898" target="_blank">Cuthbert Street residence </a>was listed by Belle Property estate agents Edward Brown and Ben Collier whose price guide was $4.25 million to $4.5 million. 
The five-bedroom, three-bathroom freestanding luxury home is comprised of two adjoining Victorian cottages. It features a cottage frontage with a sandstone entrance, double French doors, and tessellated tiles.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/6/7_Queens.jpg" alt="">
The home had been renovated over 20 years ago with Flos lighting and Gessi tap ware, reports Mr Brown. "The vendors added the pool, and updated the bathroom."
The 291 sqm block has north-facing landscaped gardens, a heated mosaic-tiled pool with an outdoor shower, and abundant flexible entertaining areas. 
Upstairs, there is also an in-ceiling 110 inch movie screen and projector, and the master ensuite bedroom which features its own dressing room, private steam room, and private deck. 
The property was previously sold in 1998 for $393,000. 
According to Domain, two other five-bedroom houses in the area were recently sold. 
A similar home on Bourke Street in the area sold for $4 million. 
</body></html>

Adjoining Victorian cottage residence in Queens Park sold

<html><body>
GUEST OBSERVATION
In July 2019, the government introduced <a href="https://www.agedcarequality.gov.au/news-media/commission-media-release-new-aged-care-standards-commence" target="_blank">new aged care standards</a> to “raise the bar” in an aged care system where some nursing home residents have experienced care that is <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-10-31/aged-care-royal-commission-report-finds-unsafe-industry/11658328" target="_blank">neglectful, depersonalised, uncaring, unsafe and of poor quality</a>.
We took a close look at <a href="https://www.myagedcare.gov.au/non-compliance-checker" target="_blank">breaches of aged care standards</a> from 2019 to see what effect the new aged care standards are having, and where aged care providers are falling short.
What are aged care standards?
Aged care standards are the minimum standard of care the government expects nursing homes to provide.
They are supposed to ensure people in aged care have access to quality care including competent staff who listen, best-practice clinical care and nutritious and tasty food.
Nursing homes that don’t meet standards are given a notice of non-compliance. If the provider doesn’t fix the problems that made it non-compliant, then it will be sanctioned.
If assessors decide there is an immediate and severe risk to residents, nursing homes can also be immediately <a href="https://theconversation.com/how-to-check-if-your-mum-or-dads-nursing-home-is-up-to-scratch-123449">sanctioned</a>. The nursing home provider must then bring the care up to standard before they can take new residents.
The new aged care standards
From 2014 until the new standards were introduced in July 2019, the number of non-compliance notices and sanctions increased steadily as can be seen in the chart below.
This was likely due to a combination of <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-08-11/aged-care-commission-hears-recommendations-ignored/11400026">increasing scrutiny</a> of the quality of residential care as a result of the unsafe care revealed at Oakden in 2017, and the establishment of the <a href="https://agedcare.royalcommission.gov.au/Pages/default.aspx">aged care royal commission</a> in October 2018. A 2018 policy change meant providers <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/FlagPost/2018/February/nursing_home_quality_and_compliance_visits">were no longer warned</a> about upcoming accreditation visits.
<hr>
<a href="https://images.theconversation.com/files/318042/original/file-20200302-18295-1fbu84s.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/318042/original/file-20200302-18295-1fbu84s.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 Chart: Else Kennedy. <a class="license" href="http://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
<hr>
The new standards, introduced in July 2019, <a href="https://www.agedcarequality.gov.au/news-media/commission-media-release-new-aged-care-standards-commence">focus</a> on “personal dignity and choice”.
They were designed to support the provision of care based on what residents want, rather than penalising providers when they let residents do something that could be considered “risky”, such as allowing someone with mild dementia to walk to the shops, or having a pet in the nursing home.
The number of non-compliance notices and sanctions in the first six months of the new standards decreased. This is likely because assessors visited fewer nursing homes in this period, and may still be learning how to interpret the new standards.
Aged care providers and industry bodies have <a href="https://www.australianageingagenda.com.au/2019/03/22/balancing-act-will-test-transition-to-new-quality-standards/">criticised</a> the new standards for being <a href="https://www.australianageingagenda.com.au/2019/03/01/objective-measures-needed-for-better-quality-regulation-rc-advised/">subjective and vague</a>. They do not measure objective resident outcomes like depression or number of infections.
For-profit companies had a higher rate of non-compliance in 2019
<hr>
<a href="https://images.theconversation.com/files/318047/original/file-20200302-18262-1vtgbvj.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/318047/original/file-20200302-18262-1vtgbvj.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 Chart: Else Kennedy. <a class="license" href="http://creativecommons.org/licenses/by-sa/4.0/">CC BY-SA</a>
<hr>
Some <a href="https://www.aihw.gov.au/getmedia/87fa8d3e-ca23-48e7-905f-57df367f8f14/aihw-age-101.pdf.aspx?inline=true">6% </a>of for-profit residential care facilities failed aged care standards in 2019, some of them multiple times. In comparison 5% of not-for-profit and 4% of government facilities failed standards.
The rate of non-compliance in for-profit facilities was 27% higher than not-for-profits, and 54% higher than government facilities.
This suggests for-profit providers in Australia are more likely to provide lower quality care. An <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2721035/">international review</a> has noted similar trends in other countries.
Profit margins are <a href="https://theconversation.com/its-hard-to-make-money-in-aged-care-and-thats-part-of-the-problem-103339">slim</a> in aged care, and for-profit providers are under pressure to make profits by cutting costs. This could lead to a lower standard of care compared with not-for-profit or government providers.
Reasons for non-compliance in 2019
The most common reasons for non-compliance in 2019 were in the area of personal and clinical care and the area of governance.
<hr>
<a href="https://images.theconversation.com/files/318043/original/file-20200302-18291-1usnscx.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/318043/original/file-20200302-18291-1usnscx.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 Chart: Else Kennedy. <a class="license" href="http://creativecommons.org/licenses/by-nd/4.0/">CC BY-ND</a>
<hr>
An example of a nursing home breaching the personal and clinical care standard could be if the home’s practices mean it isn’t giving medication correctly, isn’t managing wounds properly, or isn’t providing dignified help for residents using the toilet.
Homes might also breach the personal and clinical care standards if they don’t have sufficiently skilled staff such as registered nurses to care for residents with complex health needs.
A nursing home might be non-compliant in governance when it doesn’t have the right systems in place to monitor and improve its clinical care, for example in the areas of infection control or restraints. It might also be non-compliant if residents and families don’t have enough of a say in how the facility is run.
The new standards were supposed to place an <a href="https://www.agedcarequality.gov.au/news-media/commission-media-release-new-aged-care-standards-commence">increased focus</a> on dignity and choice, supporting the identity of a person, and increasing their say in the care they receive. This means catering for residents who want to have showers in the evening, stay up late, or make their own lunch. Previously there was much less emphasis on these aspects of aged care.
It is somewhat promising that more breaches of non-compliance in the “dignity and choice” standard have been picked up since the new standards came in. But given we know care is often poor in this area and there is an increased focus on this standard, we could have expected a more significant change.
Based on the first six months of non-compliance and sanctions data for the new aged care standards, we cannot be confident the new standards are ensuring nursing homes provide higher quality care. We await more data.
Until then, aged care residents and their families should monitor the quality of care they receive, know their aged care rights, and <a href="https://www.myagedcare.gov.au/contact-us/complaints">complain</a> if they think there is an issue.
If you or a family member are considering using an aged care provider, you can check whether the provider has breached standards via the <a href="https://www.myagedcare.gov.au/non-compliance-checker">My Aged Care non-compliance checker</a>.<img src="https://counter.theconversation.com/content/131449/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/lee-fay-low-98311">Lee-Fay Low</a>, Associate Professor in Ageing and Health, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a>
This article is republished from <a href="http://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/which-aged-care-services-near-you-werent-up-to-scratch-in-2019-131449">original article</a>.
</body></html>

Which Australian aged care services weren't up to scratch in 2019?

<html><body>
GUEST OBSERVATION
Panic buying knows no borders.
Shoppers in Australia, Japan, Hong Kong and the United States have caught toilet paper fever on the back of the COVID-19 coronavirus. Shop shelves are being emptied as quickly as they can be stocked.
This panic buying is the result of the fear of missing out. It’s a phenomenon of consumer behaviour similar to what happens when there is a run on banks.
A bank run occurs when depositors of a bank withdraw cash because they believe it might collapse. What we’re seeing now is a toilet-paper run.
Coordination games
A bank holds only a fraction of its deposits as cash reserves. This practice is known as “fractional-reserve banking”. It lends out as much of its deposits as it can – subject to a banking regulator’s <a href="https://www.propertyobserver.com.au/https://www.rba.gov.au/publications/bulletin/2010/sep/6" target="_blank">capital-adequacy requirements</a> – making a profit from the interest it charges.
If every customer simultaneously decided to withdraw all of their deposits, the bank would crumble under the liability.
Why, then, do we not normally observe bank runs? Or toilet paper runs?
The answer comes from Nobel-winning economist John Nash (played by Russell Crowe in the 2001 movie <a href="https://www.imdb.com/title/tt0268978/" target="_blank">A Beautiful Mind</a>). Nash shared <a href="https://www.nobelprize.org/prizes/economic-sciences/1994/press-release/" target="_blank">the Nobel prize in economics</a> for his insights in game theory, notably the existence of what is now called a “<a href="https://www.propertyobserver.com.au/https://www.pnas.org/content/101/12/3999" target="_blank">Nash equilibrium</a>” in “games”.
Both banking and the toilet-paper market can be thought of as a “coordination game”. There are two players – you and everyone else. There are two strategies – panic buy or act normally. Each strategy has an associated pay-off.
If everyone acts normally, we have an equilibrium: there will be toilet paper on the shop shelves, and people can relax and buy it as they need it.
But if others panic buy, the optimal strategy for you is to do the same, otherwise you’ll be left without toilet paper. Everyone is facing the same strategies and pay-offs, so others will panic buy if you do.
The result is another equilibrium – this one being where everyone panic buys.
Preventing coordination failure
So either no one panic buys (a successful coordination) or everyone does (a coordination failure).
The fear of everyone else panic buying has made some people panic buy as well. But those who are panic buying are not acting irrationally. They’re not stupid! They are executing an optimal strategy because the fear has a basis in reality: many people have experienced going to supermarkets and finding empty shelves.
Obviously, though, only one of these equilibria is desirable. So what can we do to prevent coordination failure?
One solution is a market mechanism – allowing the price of toilet paper to increase to reduce demand. This is unlikely to happen, though, given the potential backlash associated with “price gouging”.
There are two other solutions.
The first is for the government to step in as guarantor.
In 2008, for example, the market crash engendered by the subprime mortgage crisis left multiple Australian banks vulnerable to depositor runs. In response, the Australian government announced a <a href="https://www.guaranteescheme.gov.au/" target="_blank">guarantee scheme</a> for deposits. Depositors, assured the government would cover their losses even if their bank collapsed, no longer had the fear of being caught out by not withdrawing their savings.
In the case of toilet paper, the government acting as guarantor might involve holding a strategic stockpile of toilet paper. But all things considered – from logistics to costs – this probably isn’t a very good idea.
The second solution is to ration the commodity – putting limits on the amount a customer can buy. Imperfect though these buying limits are, they are feasible, as shown by the restrictions put in place by <a href="https://www.afr.com/companies/retail/coles-joins-woolworths-in-rationing-toilet-paper-20200305-p5471r" target="_blank">Australia’s supermarkets</a>.<img src="https://counter.theconversation.com/content/133065/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/alfredo-r-paloyo-438086" target="_blank">Alfredo R. Paloyo</a>, Senior Lecturer in Economics, <a href="https://theconversation.com/institutions/university-of-wollongong-711" target="_blank">University of Wollongong</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/a-toilet-paper-run-is-like-a-bank-run-the-economic-fixes-are-about-the-same-133065" target="_blank">original article</a>.
</body></html>

Toilet paper runs are like bank runs and economic fixes are about the same

<html><body>
Sydney weekend clearance rates remain strong after another RBA rate cut encouraged buyers who've yet to show coronavirus induced recession fears.
Elsewhere public holidays in four of the eight states and territories meant the 1456 number of homes was less less than half the number last week (3026).
Across the capitals the preliminary clearance rate rose from 73.9 per cent to 74.8 per cent.
Sydney’s was again the strongest auction market at 82 per cent.
Its highest sale was at 8 Wallis Street, Woollahra.
It sold through Ben Collier and Fraser Turvey at The Agency for $6.1 million to buyers had been renting after selling their own home, looking to upsize in the local area.
It last sold for $3.4 million in 2015 with little more than a splash of paint in the meantime.
The <a href="https://www.realestate.com.au/sold/property-house-nsw-woollahra-118933903" target="_blank">8 Wallis Street</a> offering was four-bedroom, three-bathroom residence. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/6/main.jpg" alt="">
Built in 1888, the three-story residence features a ten-metre wide frontage, elegant lounge and dining areas, manicured gardens and two balconies. 
The home had ornate ceilings, original fireplaces and floorboards. 
The 367 sqm block is privately set between Centennial Park and the Queen Street village.
Sydney's most affordable auction this weekend was on <a href="https://www.realestate.com.au/sold/property-unit-nsw-rockdale-132933770" target="_blank">Watkin Street</a>, Rockdale.
The one-bedroom, one-bathroom unit sold pre-auction through PRD estate agents Nick Reskakis and Jonathan Kollias for $340,000 to a first time buyer.  
<div class="fluid-width-video-wrapper">Melbourne was the second busiest auction market, but the Moomba public holiday on Monday saw just 404 auctions.</div>
<div class="fluid-width-video-wrapper"> </div>
<div class="fluid-width-video-wrapper">There was a reduced 68 per cent success rate, down from 77 per cent the weekend before.</div>
CoreLogic auction analyst Kevin Brogan attributed the declining rate to weaker participation due to the long weekend.
The city’s highest disclosed sale was Marazion, a three-bedroom, two-bathroom at <a href="https://www.realestate.com.au/sold/property-house-vic-canterbury-132961506" target="_blank">Faversham Road, Canterbury</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/2020/3/9/8_MARAZION.jpg" alt="">
The 1920s-built home sold for $2.89 million through Jellis Craig estate agents Simon Lord and David Banks.
The elegant Victorian property showcases a Spanish Mission façade, and impressive craftsmanship with its diamond headlights, stained glass windows, and solid timber features throughout.
The 715 sqm home last sold for $850,000 in 2003.
Adelaide's top sale was a three-bedroom, two-bathroom sandstone villa at <a href="https://www.realestate.com.au/property-house-sa-unley+park-132392842" target="_blank">Northgate Street, Unley Park</a>.
The 894 sqm villa sold for $1,395,000 through Toop &amp; Toop estate agents Peter McMillan and Eloise McMillan. 
 
<div class="fluid-width-video-wrapper"> </div>
 
</body></html>

Sydney weekend auction rates hover above 80 percent

<html><body>
A Gawler West, South Australia, mortgagee home is under offer after an unsuccessful auction in early February.
It is listed with a $115,000 - $125,000 price guide.
Ken Loft of Harcourts is marketing the three bedroom, one bathroom house.
Situated at <a href="https://www.realestate.com.au/property-house-sa-gawler+west-132764986" target="_blank">19 Mulga Street</a>, the abode was built in 1975.
Set on 471 sqm, it positioned in the heart of Gawler West.
It last sold for $56,000 as part of a multisale by the SA Housing Trust in 2002.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
To learn more about <a href="/developments/gawler-west-sa-5118">Gawler West, click here</a>.
</body></html>

Gawler West, SA mortgagee home under offer after unsuccessful auction

<html><body>
A Kirkwood, Queensland mortgagee home has been sold for $200,000.
At the time of the sale it was listed for $205,000.
When the house was first listed in November 2019, the vendors sought $235,000.
The three bedroom, two bathroom home last sold for $224,900 in 2013.
Luke Watts of Elders is marketing the property.
Situated at <a href="https://www.realestate.com.au/property-house-qld-kirkwood-132352222" target="_blank">10 Seagull Boulevard</a>, the home was built in 2013.
Set on 353 sqm, the lowset brick home is tucked away in the Oasis Estate Gladstone.
It was listed as a rental in 2015 and 2016 by the National Affordable Housing Consortium and Queensland Affordable Housing Consortium seeking $280/pw in 2015 and $190/pw in 2016.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median asking rent for a house in <a href="/developments/kirkwood-qld-4680">Kirkwood</a> is $300/pw, according to CoreLogic data.
</body></html>

Kirkwood, Queensland mortgagee home sold for minor loss

<html><body>
A circa 1920's Armadale, Victoria home has been listed for sale via a March 2020 auction.
It comes with a $2 million - 2.2 million dollar price guide and a planning permit for six apartments and one penthouse.
Situated at <a href="https://www.realestate.com.au/property-house-vic-armadale-133002594" target="_blank">62 Kooyong Road</a>, the listing does note that there is potential to instead renovate the existing brick home or knock it down and rebuild.
Mark Wridgway and James Paull or RT Edgeway are marketing the home.
The existing house is a five bedroom, one bathroom abode.
Set on 706 sqm, the home has been listed for $500,000 less than what it prevously sold for.
It last sold for $2,860,000 in 2018. 
The home was listed as a rental in 2018 seeking $875/pw.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a house in <a href="/developments/armadale-vic-3143">Armadale</a> is $1.875 million according to CoreLogic data.
</body></html>

Armadale mortgagee home with planning permit listed at $700,000 value reduction

<html><body>
Australia’s fifth largest bank, ING, has cut fixed rates to as low as 2.49 per cent on its 3-year fixed rate.
This is currently the lowest fixed rate on the RateCity.com.au data base.
ING has shaved all of its 1- to 5-year owner-occupier rates by up to 0.35 per cent and investor rates by up to 0.40 per cent.
<img src="https://www.urban.com.au/images/2020/3/5/Ratecity%20ING%201.JPG" alt="">
Since the RBA announced the 0.25 per cent cash rate cut on Tuesday, a total of four lenders have lowered their fixed rates.
BankVic is hot on the heels of ING, today cutting its fixed rates to now offer 2- and 3-year year loans as low as 2.50 per cent.
RateCity.com.au research director Sally Tindall said other lenders were likely to chase after ING in a bid to hold market share.
“The fixed rate war continues with the nation’s fifth largest lender now playing hard-ball in the fixed rate space,” she said.
“With ANZ, and now ING, offering market-leading rates, we expect other banks will start sharpening their prices in a bid to remain competitive.
“Fixed rates are a great tool to get new business in the door, particularly in this environment of record low rates. But with one more cash rate cut still likely, we probably haven’t seen the bottom of fixed or variable rates just yet,” she said.
<img src="https://www.urban.com.au/images/2020/3/5/Ratecity%20ING%202.JPG" alt="">
Almost 50 lenders have announced variable rate cuts, following Tuesday’s RBA decision.
</body></html>

ING has slashed fixed rates to a new market low

<html><body>
A full floor Surfers Paradise luxury apartment has been listed for $4,275,000.
Kollosche estate agents Duncan Longmore and Michael Kollosche hold the listing.
Situated on the fifth floor, the <a href="https://www.realestate.com.au/property-apartment-qld-surfers+paradise-133142402" target="_blank">Northcliffe Terrace apartment</a> is one of only 15 boutique apartments with an unobstructed ocean views.
The three bedroom, four bathroom oceanfront home features air-conditioning throughout, a gourmet kitchen with brand new European appliances, a walk-in pantry, wet bar, and a 600 bottle Vintec walk-in wine cellar. 
All bedrooms are fitted with stone ensuite and balconies. The master suite also has a walk-in robe, and circular spa in its ensuite. 
The open plan living and dining area showcases a gas fireplace and access to the beachfront balconies which have a BBQ and heated plunge pool with jets.
The apartment also has an executive office with ceiling to floor glass windows and balcony access, fitted with custom built desk and cabinetry. 
</body></html>

Full floor Surfers Paradise trophy apartment for sale

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<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/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<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/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News