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It seems a distant memory, but the property market entered 2020 with much anticipation and optimism coming off a strong end to 2019, according to the November report from Herron Todd White.
The Melbourne North auction results at the start of the year are in complete contrast to the past few months in Victoria. There were 1123 auctions on 22 February compared to just 33 on 12 October, highlighting the change in market conditions since the start of the year (source: Corelogic,2020).
That being said, properties have still been selling albeit not in the numbers recorded prior to the Coronavirus pandemic. The decrease in number of listings has resulted in less prestige properties hitting the market but that lack of stock has also helped to keep prices steady with buyers fighting over the limited number of properties.
Homes in the inner northern suburbs of Melbourne are well known for their Victorian period architecture. 16 Rushall Crescent, Fitzroy North (pictured) is no exception. This property sold for $3.675 million on 15 June. This house has four bedrooms, two bathrooms and one car space. The front of the house has been restored with period fixtures and features moving into a rear extension which ties in modern and state of the art designs. The sale occurred between the first and second lockdowns with a high number of potential buyers resulting in a sale in 21 days. The sale showed that the market was still achieving good results in uncertain times mainly due to the lack of stock and the number of willing and able buyers remaining active in the market.
One of the more unique sales in the inner northern suburbs was 69 Fitzgibbon Street, Parkville. This 1889 heritage registered polychrome brick building was and still is the Parkville post office. The property includes five bedrooms, one bathroom and three car spaces. The post office still operates on a lease worth almost $31,000 annually. The building marketed as a once in a lifetime opportunity saw high interest initially and sold in 30 days for $4.04 million on 22 February. The historical significance, late 1800s neo gothic architecture and the fact that it still operates as a post office certainly makes this one of the more unique sales in Victoria during 2020.
A new prestige listing further north at 252 Woodland Street, Strathmore, is currently listed on the market and asking for between $4.25 million and $4.55 million. This ultra-modern home has four bedrooms, three bathrooms and a seven-car basement carpark. The open floor plan and combination of large indoor and outdoor entertaining spaces accompanied by high end fixtures and fittings will be sure to gain interest in a market which is still seeing low numbers of stock due to the Coronavirus lockdowns.
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j.ballantyne1990-6AQqhLzZaK

North Melbourne prestige market stock remains low: HTW

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Western Melbourne’s higher end property can be found right in the heart of its inner western suburbs such as Moonee Ponds, Essendon, Ascot Vale, Altona North, Yarraville and Williamstown, according to the Novemeber report from Herron Todd White
They found the housing market for high end property has seen a decrease in volume this year compared to 2019 with COVID being a major factor.
The majority of sales for prestige properties in this area occurred at the start of the year prior to the start of the pandemic and any form of restrictions being put in place. With a crippled economy and very uncertain times for many people, the demand or desire for lavish homes from both investors and owner-occupiers took a decline. This was combined with a limited number of buyers as no overseas investors were allowed into the country due to the heavy travel restrictions in place since March.
Supply for high end property has not been as prevalent this year as in the past however we may see more properties being listed in the coming months. One reason is that people cannot physically inspect properties at this point in time so sellers have held off placing their properties on the market until restrictions are lifted and potential buyers are allowed to physically inspect again in an attempt to achieve a higher sale price.
Another reason could be that if people are now finding that they can no longer afford to pay their mortgage due to the pandemic’s effect, there will be a flood of supply of higher end properties in an effort to avoid the bank taking the property as a mortgagee in possession. Overall there has been little change in value for this type of property as there has been no volume.
The market is dominated by owner-occupiers leaving very little rental spaces available. With no investors the market for high entry real estate has been devoured by homeowners. One sale that stands out in this area is 9 Forbes Street in Essendon (pictured) which sold for $3.61 million in June this year. The four-bedroom, three-bathroom, four-car garage house was originally built in the 1920s. Keeping its original facade, an extension took place in 2016. The house features a pool, large open living areas and American oak floorboards.
On the market for a price of $2.99 million is 5 Morton Street in Essendon. Among the fourbedroom, three-bathroom luxurious home’s features are an underground garage for six cars, large fitting room and master ensuite, indoor and outdoor entertaining area, home theatre, pool and elevator. The home was listed in August this year.
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Western Melbourne prestige property volume decreases: HTW

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Being a regional area, the Coffs Coast realistically sees the prestige market as starting at the $1 million mark which is predominantly driven by out of town buyers, according to the November report from valuation firm Herron Todd White.
HTW found that the largely discretionary type buyer to whom prestige property greater than $1 million appeals can be greatly impacted by changed economic conditions. Plus this market is also heavily influenced by the performance of the capital city markets as these areas traditionally provide the majority of buyers for prestige housing on the Coffs Coast.
Market conditions have continued to swell for properties over $1 million in recent years as confirmed by the increased sales numbers for both beachside and rural residential properties over $1 million, however the majority of sales occur within the $1 million to $1.5 million price bracket.
However, the higher the value, the thinner the market and historically there have been very limited sales over $2 million.
"Sale volumes for prestige beachside property in the Coffs Harbour region (encompassing the beachside suburbs and townships including Coffs Harbour, Korora, Sapphire Beach, Emerald Beach, Sawtell, Woolgoolga, Safety Beach, Arrawarra Headland, Moonee Beach, Boambee and Mullaway) show a total of 11 sales recorded over $2 million since 2007 and we recently cracked the $3 million mark for 147 Edinburgh Street, Coffs Harbour at $3.25 million (multi level, architectual dwelling with ocean and harbour views located within the sought-after Jetty precinct)," according to HTW Property Valuer Grant Oxenford.
"Notwithstanding this figure, we are now experiencing a spike in the prestige market which has been fuelled by the COVID pandemic."
"The changing face of the way we live and work plus the willingness of city dwellers to relocate to regional areas to escape COVID restrictions has created a definite increase in demand."
"The majority of this prestige activity has been in the rural residential sector with notable sales including 1-9 Tidal Crescent, Moonee Beach for $2.4 million (five dwellings set on 1.22 hectares with extensive estuary views), 123-125 Featherstones Road, Sherwood for $2.4 million (five dwellings on 70 hectares with extensive infrastructure), 606 Valery Road, Valery for $2.1 million (two dwellings on 51 hectares, fully renovated and landscaped) plus the most recent transaction which has broken all records for rural residential property at $3.3 million for 110 North Island Loop Road, Upper Orara (prestige architectural dwelling with second original cottage set on 42 hectares)," he added.
The rural township of Bellingen (35 kilometres south-west of Coffs Harbour) has been a historically strong performer with the 'out-of-town' market and has seen four rural residential sales in excess of $1.5 million within the past four months.
It is interesting to note that the majority of the properties mentioned above have been marketed for in excess of 12 months and in some cases three years which is also an indicator of the traditional thinness of this market and the recent increase in demand as a result of the COVID pandemic.
Mr Oxenford said, "the question one must ask is whether these values are sustainable or is this a bubble created by a false market driven by the pandemic. The answer to that is not simple and without a crystal ball, no one really knows, other than to comment that this is not a normal property cycle."
"As a result of the market primarily being driven by out of town buyers, personal preferences, presentation and motivation of both the purchasers and vendors will impact the ultimate sale price and can result in wider market parameters than those experienced for lower priced properties."
"At this point in time, we can only hang on and enjoy the ride; great if you are a seller, not so good for the buyers," he concluded.
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Coffs Harbour prestige market seeing pandemic spike: HTW

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GUEST OBSERVATION
Raise your hand if you’ve ever travelled for weeks or months as a backpacker on a limited daily budget. Keep your hand up if you were made welcome in the places you visited on your <a href="https://www.researchgate.net/publication/249631253_The_big_'OE'_Young_New_Zealand_travellers_as_secular_pilgrims">OE</a>, enjoyed chance encounters and experienced the generosity of strangers.
And did those experiences leave a lifelong affection for the places you visited and people you met? If the answer is yes, then we need to consider what might happen in New Zealand were Tourism Minister Stuart Nash’s latest ideas to become policy.
To recap, Nash told the Tourism Summit in Wellington last week the industry should move away from catering for low-spending backpackers and instead <a href="https://www.theguardian.com/world/2020/nov/18/new-zealand-tourism-looks-past-backpackers-in-favour-of-high-net-worth-individuals">target the rich</a>. This would solve two problems: the environmental damage allegedly caused by freedom campers (including using <a href="https://www.nzherald.co.nz/lifestyle/defecating-freedom-campers-cause-a-big-stink-at-otagos-smaills-beach/IQXG2C6HLDTFJCH3JOIFA4UBSM/">nature as their toilet</a>), and the pressure of too many visitors in general.
Nash was right to say we cannot return to the pre-COVID normal when the border reopens and the tourism recovery begins. Overcapacity, strained infrastructure and environmental impacts meant <a href="https://www.pce.parliament.nz/our-work/news-insights/media-release-pristine-popular-imperilled">growing community resistance</a> was reaching a tipping point.
But do we really want to banish backpackers and position New Zealand as expensive and exclusive — the Switzerland of the South Pacific? There are five reasons this approach would be a mistake.
1. Big spenders are big polluters
Lower-budget travellers generally stay much longer than the average. They usually make a higher aggregate economic contribution than those whose daily spend is high but who pass through quickly.
Does New Zealand really want only the uber-rich to experience our natural wonders, when flying business class, travelling by cruise ship and hiring helicopters are the most environmentally damaging ways to do so?
 
If we were to consider the wider social, economic and environmental impacts of discrete tourism markets, we would be banishing the <a href="http://www.physics.otago.ac.nz/space/cruise_ship_EnergyPol.pdf">cruise industry</a> first, not backpackers.
2. Backpackers bring many benefits
Because they stay longer, backpackers can bring wider benefits to our society, economy and environment. They tend to be more dispersed, bringing economic development and employment opportunities to regional communities.
Also, their travel behaviours tend to align more with the concept of <a href="https://pureadvantage.org/news/2020/07/31/regenerative-tourism-opportunity-for-tourism-recovery/">regenerative tourism</a>. Backpackers are more likely to be conscious of their carbon footprint, engage in beach cleanups, plant trees and involve themselves in conservation projects.
They are a seasonal labour force, too, as has been shown by critical <a href="https://www.odt.co.nz/rural-life/horticulture/no-change-seasonal-worker-shortage">labour shortages</a> in rural and regional economies due to border closures.
3. The importance of diverse tourism
Backpackers and freedom campers support small regional tourism businesses, attractions and local services that would not survive without them. Backpacker hostels, home-stays, camping grounds and other low-budget accommodation subsectors would be at risk, as would many small and medium tourism businesses.
During crises it is important that tourism destinations have a broad portfolio of markets. This ensures resilience and mitigates potential economic impacts from periodic disruptions to global tourism. Furthermore, as the mayor of Queenstown has <a href="https://www.odt.co.nz/regions/caution-urged-over-tourist-van-ban">observed</a>, today’s backpackers return in future as high-end visitors.
4. Tackling climate change and overconsumption
Social tourism refers to the principle that opportunities to engage occasionally in leisure and tourism are important for personal well-being and an inclusive society. It is a form of tourism based on an <a href="https://westminsterresearch.westminster.ac.uk/item/8zz55/what-is-social-tourism">ethic of social inclusion</a>, as opposed to exclusion based on wealth.
By contrast, the carbon-intense lifestyles and sense of entitlement of the super-wealthy are major barriers to climate action.
Our tourism policies should not celebrate and encourage over-consumption, which works against shifting attitudes towards less carbon-intensive and more sustainable travel.
5. Damage to our international reputation
Do we really want to be perceived as exclusionary and elitist? A colleague based at a university in the Netherlands, for example, reported a social media backlash:
Everyone is complaining about the news that Kiwis do not want to have us anymore and they are only interested in tourists who fly business class and hire a helicopter around Franz Josef.
Similarly, the policy can look petty. A <a href="https://timesofindia.indiatimes.com/world/rest-of-world/new-zealand-vows-crackdown-on-defecating-backpackers/articleshow/79277723.cms">story</a> headlined “New Zealand vows crackdown on defecating backpackers” in the Times of India reported the New Zealand government’s promise “to take action against backpackers relieving themselves at natural beauty spots as part of post-coronavirus tourism plans”.
The post-COVID challenge
Should New Zealand’s post-coronavirus tourism rebuild really be perceived as revolving around the defecations of low-budget tourists? While there have been cases of disgusting behaviour, this problem can be actively managed.
Non-self-contained campervans could be required to park overnight in fully serviced camping grounds for a nominal fee. New Zealanders should not bear the costs of tourism, anyway. Local councils transfer the costs of freedom camping to ratepayers when they provide “free” overnight parking and toilet facilities — putting rate-paying local camping grounds out of business.
 
Above all, our tourism rebuild should be closely aligned with what makes New Zealand unique. First and foremost, it should be founded on the Māori principles of <a href="https://maoridictionary.co.nz/search?idiom=&amp;phrase=&amp;proverb=&amp;loan=&amp;histLoanWords=&amp;keywords=kaitiakitanga">kaitiakitanga</a> and <a href="https://maoridictionary.co.nz/search?keywords=manaakitanga">manaakitanga</a> — a mutual responsibility to care for the land and culture, as expressed in the <a href="https://tiakinewzealand.com/">Tiaki Promise</a> charter.
This would honestly reflect the ideals of generations of Kiwis who have set off on their own OEs to experience the world. If we consider this a birthright, is it fair that we deny the same to others who want to visit us?<img src="https://counter.theconversation.com/content/150639/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/james-higham-134567">James Higham</a>, Professor of Tourism, <a href="https://theconversation.com/institutions/university-of-otago-1304">University of Otago</a> and <a href="https://theconversation.com/profiles/hazel-tucker-1180720">Hazel Tucker</a>, Professor, <a href="https://theconversation.com/institutions/university-of-otago-1304">University of Otago</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/5-reasons-why-banishing-backpackers-and-targeting-wealthy-tourists-would-be-a-mistake-for-nz-150639">original article</a>.
<a href="https://theconversation.com/profiles/james-higham-134567">James Higham</a> &amp; <a href="https://theconversation.com/profiles/hazel-tucker-1180720">Hazel Tucker</a>
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5 reasons why banishing backpackers and targeting wealthy tourists would be a mistake for NZ

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GUEST OBSERVATION
The idea of moving to the country has <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-05-10/post-covid-19-pandemic-simpler-life-migration/12229082">gained momentum</a> through the COVID-19 pandemic. Many workplaces have introduced <a href="https://theconversation.com/with-management-resistance-overcome-working-from-home-may-be-here-to-stay-144850">new policies on working from home</a> that give employees the flexibility needed to make the switch.
Lockdowns have shown many just how cramped and uncomfortable life can be when you cannot escape to the usual activities that get you out of the house. And if everything is closed, what is the point of being in the city and paying a higher rent or mortgage anyway? The Reserve Bank has <a href="https://www.rba.gov.au/publications/bulletin/2020/sep/the-rental-market-and-covid-19">noted rents have gone down</a> and vacancy rates have gone up in major cities.
At the same time, some real estate agents have <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-05-15/australians-seek-regional-affordability-house-prices-coronavirus/12242252">noticed an upturn</a> in interest in renting or buying rural and regional properties. The <a href="https://www.domain.com.au/news/these-are-the-best-performing-property-markets-in-australia-domain-house-price-report-1000315/">demand in some regional areas</a> has pushed up prices by <a href="https://www.domain.com.au/news/where-regional-australian-house-prices-moved-the-most-domain-house-price-report-1000799/">as much as 30%</a> in the year to October. It seems many are already making the switch to country living.
It sounds idyllic. Escape the rat race, have space to grow veggies and let the kids play outside. You won’t have to commute any more, and you might even be able to buy a house in the country at a time when city prices remain out of reach for many. You could be living the dream.
Find a place that matches your values
So how do you know if this is right for you, or a disaster waiting to happen?
In <a href="https://eprints.usq.edu.au/34713/">my research</a> with people who moved to the country, I found successful moves came down to how closely aligned people’s values were with the attributes of the place they moved to. For example, some people value space and quiet more than bustle and activity. If they found these attributes in their new home, then they were able to craft a new life that was deeply satisfying.
When you look through the pages of a glossy magazine such as Country Style, you might find yourself yearning for the lifestyle it depicts – the grassy fields, the peaceful but quirky homes filled with flea-market finds, the home-grown abundance and the happy, contented people. These are long-held and highly regarded values that many hold dear.
The roots of these ideals are deep. Representations of the country as a rural idyll, a place to escape to, are centuries older than our <a href="https://theconversation.com/imagining-your-own-seachange-how-media-inspire-our-great-escapes-105207">current media</a>.
Epicurus (340BC to 270BC) moved from the centre of Athens to the countryside just outside so he could grow vegetables and live simply. Virgil’s (70BC to 19BC) Eclogues emphasised a rural idyll, as did much later painters such as John Constable and Eugene von Guérard. Henry David Thoreau’s Walden (1845) is an oft-quoted classic about an urban dweller moving to a rural place to live a better life (albeit temporarily in his case).
Early Australian writers such as A.B. “Banjo” Paterson and Henry Lawson took up this nostalgic ideal in the fledgling colony. So did artists such as Tom Roberts, Arthur Streeton and Charles Condor when they travelled to then-rural Heidelberg, now part of Melbourne, to paint the uniquely Australian countryside.
More recently, we have seen Peter Mayle’s <a href="https://en.wikipedia.org/wiki/A_Year_in_Provence">A Year in Provence</a> (1991) sketch a romantic picture of city dwellers moving to rural France. And there are popular television series such as <a href="https://en.wikipedia.org/wiki/The_Good_Life_(1975_TV_series)">The Good Life</a> (1975-77), <a href="https://en.wikipedia.org/wiki/SeaChange">Seachange</a> (1998-2000, 2019), <a href="https://en.wikipedia.org/wiki/River_Cottage_Australia">River Cottage Australia</a> (2013-16) and most recently <a href="https://tvtonight.com.au/2020/10/escape-from-the-city-reaches-final-episode">Escape from the City</a>.
Beware the gap between depictions and reality
We know the media are a powerful factor in helping us develop and share our identity and personal narratives. We respond to television shows, books and magazines that we are interested in by becoming their audience. We might share values, goals, ideas or even similar stories with the media we watch. We then, consciously or unconsciously, learn from or adopt those ideas and values in a process of socialisation that shows us how we might live a better life.
Media are only a representation, however. A multitude of factors, not least of which are sales and advertising revenues, go into the process of decision-making as images and stories are crafted for the various outlets. There can be a tendency for media to adopt stereotypes as a shorthand form of communication, but these do not necessarily reflect the reality they purport to depict.
This might seem obvious, but it is all too easy to accept these images as truth when we are inclined towards that viewpoint anyway.
Do you value the things that make a rural place what it is, whether that is peacefulness, an absence of people, vistas of rolling hills, or the community of a small country town? If you do, there’s a good chance a move to the country will enable you to live more closely in line with your values and so be a successful one.
If, on the other hand, you value city-style living, which includes attractions, shops, events and being close to services, you might want to reassess whether a seachange or treechange is right for you.
<a href="https://theconversation.com/profiles/rachael-wallis-568028">Rachael Wallis</a>, Lecturer, <a href="https://theconversation.com/institutions/university-of-southern-queensland-1069">University of Southern Queensland</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/it-seemed-like-a-good-idea-in-lockdown-but-is-moving-to-the-country-right-for-you-148807">original article</a>.
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It seemed like a good idea in lockdown, but is moving to the country right for you?

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GUEST OBSERVATION
In tax as in many endeavours, it’s easy to work out how things should be; harder to work out how to get there.
In NSW, Treasurer Dominic Perrottet wants to replace the one-off stamp duty on real estate transactions with an annual <a href="https://www.treasury.nsw.gov.au/sites/default/files/2020-11/NSW%20TSY%20TF%20-%20Glossy.pdf">land tax</a>.
In the long run, this one single reform could produce the biggest possible gains of any tax reform, state or federal.
This graph from the federal treasury’s 2015 <a href="https://treasury.gov.au/sites/default/files/2019-03/c2015-rethink-dp-TWP_combined-online.pdf">tax discussion paper</a> makes the point.
It says the “marginal excess burden” (damage) done by real estate conveyancing taxes amounts to 70 cents for each dollar raised.
It means people and businesses change addresses less often than they should. Households live further away from their work than they would like to, are reluctant to move to where there is better work, and spend money extending houses instead of moving to better ones.
Businesses resist changing property location and type when changes in markets and costs suggest they should.
<a href="https://images.theconversation.com/files/370724/original/file-20201123-19-16bujkx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/370724/original/file-20201123-19-16bujkx.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
<a class="source" href="https://treasury.gov.au/sites/default/files/2019-03/c2015-rethink-dp-TWP_combined-online.pdf">Tax discussion paper, Australian Treasury March 2015</a>
In contrast, the treasury found the marginal excess burden of land tax was negative. By that it means every dollar raised actually makes things better off by making land more likely to be used for its best purpose and making land less likely to be not used at all.
Swapping the worst tax the treasury modelled for the best tax it modelled ought to have a huge economic payoff for use of property, for productivity and for living standards.
It’d also be fairer.
The NSW <a href="https://www.treasury.nsw.gov.au/sites/default/files/2020-10/FFR%20Final%20Report%20-%20200828%20%281%29.pdf">Thodey Review</a> of federal financial relations commissioned by Treasurer Perrottet notes that 26% of owner-occupiers have remained in the same property for at least 20 years.
Most of these long-term same property owners have benefited “not only from the services provided by the state over that time, but also from a once-in-a-generation land price windfall”.
In exchange for these gains, they have contributed very little towards essential services and critical infrastructure via property taxation. Others who have moved more often than the average to find a job, to be closer to schools, or to match housing size to changes in their family situation have picked up the tab.
Thodey also identifies other reasons for making the switch. Land tax revenue is more stable and predictable than revenue that soars and dives at times when people are buying or are not buying properties.
How you get there matters
The Australian Capital Territory is well on the way.
In 2012-13 it began a <a href="https://www.allhomes.com.au/news/cbr-how-act-home-owners-are-affected-by-the-act-tax-reform-program-new-report-982274/">20-year transition</a>. Stamp duty and insurance duty are being wound back (for everyone) and replaced by <a href="/news">increases to general rates on land</a>.
The transition is roughly revenue-neutral.
NSW is proposing a different approach. It is considering asking new buyers to “<a href="https://www.treasury.nsw.gov.au/sites/default/files/2020-11/NSW%20Treasury%20property%20tax%20proposal%20Consultation%20Paper.pdf">opt in</a>” to an annual land tax in return for escaping stamp duty. Once a buyer has opted in, future buyers of that property won’t be able to opt out. They will pay land tax instead of stamp duty.
It’ll mean no property owner, new or old, need be a loser in the first instance.
But it will stretch out the transition and involve very large reductions in revenue for years to come, with smaller but still-substantial losses over decades.
As an illustration, assume that in year one, rather than paying $100 of stamp duty, the buyer chooses to pay a much smaller annual land tax.
NSW is going the long way
On average about 5% of properties change hands each year, meaning on average each is transferred once every 20 years. That means that to be revenue neutral in the long term the annual land tax should be set at 5% of the stamp duty.
If all the buyers in the first year switch over to land tax, the government will lose 95% of the money it would have got from stamp duty in that year.
With the passing of time and a larger share of owners paying land tax the shortfall will get smaller. But even after a decade, it might be as much as 50%.
Some buyers will never opt-in
And the voluntary opt in will give buyers who expect to hold a property for longer than average, for more than 20 years, an incentive to turn down the offer of land tax and pay (the lesser) stamp duty as before; while those who expect a short stay will opt for the (lesser) land tax.
This entirely rational behaviour will further reduce government revenue, aggravate the inequity of the system we’ve got, lock some owners into the properties they already own in order to avoid paying for government services, and postpone the benefits of moving to a system in which tax doesn’t distort the use of land.
It’s easy to see why Perrottet has gone for a voluntary switchover.
There are better ways to avoid double taxation
Without some sort of concession, recent buyers would find themselves taxed twice, once through stamp duty and then again through annual land taxes.
The ACT’s 20-year transition is one way to get around the problem.
Despite concerns, it has <a href="https://grattan.edu.au/submissions/nsw-should-swap-stamp-duties-for-a-broad-based-property-tax/">proved popular enough</a>.
Eight years in, the ACT Labor government has just won it’s <a href="https://www.news.com.au/national/nsw-act/politics/act-votes-will-labor-secure-a-sixth-term/news-story/fb16a95da53cb48cc31f1591b54abd66">sixth consecutive election</a>.
A quicker way of realising the gains from switching while reducing double taxation would be to introduce land tax immediately and give recent buyers a partial credit for the stamp duty they’ve paid.
As an example, stamp duty paid in the past one, two, three, four and five years could receive a credit of 100%, 80%, 60%, 40% and 20%, respectively.
It would cost revenue over the transition period, but not as much as the opt in arrangement proposed by the NSW treasurer, and after that short period the switch would be revenue-neutral. Importantly, it would reap the full efficiency benefits from day one, and ensure everyone paid the tax they should.<img src="https://counter.theconversation.com/content/150629/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/john-freebairn-90">John Freebairn</a>, Professor, Department of Economics, <a href="https://theconversation.com/institutions/university-of-melbourne-722">University of Melbourne</a>
This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/axing-stamp-duty-is-a-great-idea-but-nsw-is-going-about-it-the-wrong-way-150629">original article</a>.
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Axing stamp duty is a great idea, but NSW is going about it the wrong way

Steady decline in average mortgage interest rate to continue: RBA's Guy Debelle

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Rooville, a solid pale-brick home sitting on 6.5ha bushland in Lyonville, Victoria hit the market with $1.85 million to $2 million hopes.
It is now seeking $1.65 million - $1.78 million after several months of marketing.
The postmodern style home at <a href="https://www.realestate.com.au/property-house-vic-lyonville-134378954" target="_blank">121 Frith Mill Road </a>features curved roof line, exposed internal timber pillars and exposed brick walls. 
The home offers centrally located open plan kitchen and lounge/dining with Ned Kelly woodier heater. 
<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/2020/9/14/lyonville%202.jpg" alt="">
The master suite with ensuite opens onto an east-facing deck with lake views. 
At the opposite end of the house, there are two additional bedrooms, bathroom and laundry or wet room.
There is a lakeside studio with loft bedroom and kitchenette. 
<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/2020/9/14/lyonville%203.jpg" alt="">
Additional features of Rooville include triple carport, woodshed, vegetable garden with berries and rainwater tanks. 
It is located close to the popular tourist towns of Daylesford, Trentham, Kyneton and Woodend. 
Kim McQueen and Robert Broadhurst of McQueen Broadhurst Real Estate Kyneton &amp; Dylesford have the listing. 
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Lyonville trophy home on 6.5 ha bushland has listing price cut

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A renovated Queenslander in Kalinga, Queensland has gone under offer after hitting the market in xxx with $2.1 million hopes. 
The five bedroom, three bathroom house at <a href="https://www.realestate.com.au/property-house-qld-kalinga-134360750" target="_blank">148 Kent Road</a> is surrounded by the leafy streets of Kent Road.
Last traded for $390,000 back in 2000, the 1905 built Queenslander has three main living areas, a study, large kitchen, alfresco entertainment area and swimming pool. 
<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/2020/9/14/kalinga%202.jpg" alt="">
Nestled on a large 810sqm block, the home also features polished timber floors, pressed metal ceilings and space for four cars. 
<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/2020/9/14/kalinga%203.jpg" alt="">
Located only 8km from the Brisbane CBD, it is close to major shopping precincts, trial station and Brisbane Airport. 
Tyson Clarke of Queensland Sotheby's International Realty Brisbane marketed the home
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Kalinga renovated Queenslander under offer

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Camas, a 4ha property with open gardens in Dural, NSW has been offered for the first time in 53 years.
Surrounded by sweeping lawns, rose and vegetable gardens, the two storey double brick home is situated at <a href="https://www.realestate.com.au/property-house-nsw-dural-134438406" target="_blank">465 Glaston Road</a>. 
The family home comprises six bedrooms, two verandahs, and multiple dining and living areas with views of the surrounding gardens. 
<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/2020/9/28/dural%202.jpg" alt="">
It also features high ceilings, marble fireplace and the use of Australian Cedar throughout the home.
The home is situated only moments to local shops, schools, playing fields and 40 minutes to Sydney CBD.
<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/2020/9/28/dural%203.jpg" alt="">
The property offers the buyer potential with the option of subdividing into two parcels (STC).
Kate Lumby and Will Hampson of Lumby Hampson Dural have the listing.  
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Camas, Dural trophy home listed for the first time in 53 years

Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a>

The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.

The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.

The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.

[smartcode_project:default project_id=108800 project_image_fid=370093]

Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.

"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.

"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."

Brown says the&nbsp;response to Park Residences following completion has been particularly strong.

"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.

"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."

[smartcode_project:default project_id=114246 project_image_fid=370116]

Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.

"Today's buyers are incredibly discerning," Tack said.

"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.

"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."

The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.

Joel Robinson

KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

The City of Sydney has approved plans for <a href="https://www.apartments.com.au/developers/billbergia">Billbergia Group</a> and Metrics Credit Partners’ $3.5 billion Castlereagh Place project in the heart of the Sydney CBD

The towers will be among the tallest in <a href="https://www.apartments.com.au/developments/sydney-nsw-2000">Sydney</a>'s CBD, with more floors than any other residential tower in the city.&nbsp;

The 6,000 sqm site was acquired by the joint venture partners in 2024. It is the largest amalgamated land parcel in the Sydney CBD and comprises eight individual sites fronting Castlereagh, Pitt and Liverpool Streets.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/castlereagh-place-sydney-324-348-pitt-street-sydney-nsw-2000">Castlereagh Place</a> will transform an underutilised city block into a landmark mixed-use destination, anchored by two 82-storey towers comprising 607 luxury residences above an 8-level podium housing a 209-room luxury hotel. A 1,000 square metre civic park on ground level features a curated mix of food, beverage and retail.

The plans have been refined over the past year to rebalance the residential and hotel offering, and reconfigure the retail footprint to create a stronger, more dynamic dining experience.

A three-level flagship building on the prominent corner of Pitt and Liverpool Streets will be the gateway to the Castlereagh Place lifestyle precinct. Set to become a Sydney icon, the building is capable of housing multiple hospitality venues.

“Castlereagh Place is designed to be the City's next great urban oasis - an energetic mixed-use precinct that pulses with life, day and night,"&nbsp;said Joseph Kinsella, Group Director of Billbergia.

"It will bring the vibrancy of places like Barangaroo and Darling Quarter into a more accessible, central destination at the very heart of Sydney."

Kinsella said the project will build on&nbsp;Sydney’s growing laneway culture with the City’s largest network of new activated lanes - an expanded, next-generation take on precincts like Angel Place, Palings Lane and Ash Street in Wynyard.

[smartcode_project:default project_id=134477 project_image_fid=374401]

Castlereagh Place has been designed by architects <a href="https://www.apartments.com.au/architects/fjc-studio">fjcstudio</a> in collaboration with Trias Studio, Aileen Sage and Polly Harbison Design, joint winners of an international design competition in 2018.&nbsp;

Signature design elements from the original scheme remain unchanged, while the public domain has been significantly enhanced, delivering 60 per cent more open-to-sky space.

Pedestrian access will also be enhanced through new laneways linking Pitt, Liverpool and Castlereagh Streets, drawing people into a new civic park with outdoor seating, landscaping and integrated public art.

With activated laneways supported by strong hospitality offerings, Castlereagh Place is tipped to become a vibrant new dining destination in the heart of Sydney’s CBD.

It marks the largest undertaking to date for the Billbergia and Metrics Credit Partners partnership. Together they are developing other underutilised Sydney sites into mixed-use precincts, including the $2.2 billion Concord Central and the $1.3 billion Chatswood Grand Residences.

Metrics Managing Partner and Group CEO Andrew Lockhart said Castlereagh Place is a landmark project that will redefine Sydney’s skyline.

"As the tallest residential high-rise development, the revitalised site will offer panoramic views across the CBD and surrounds. We are excited to partner with Billbergia to reinvigorate an underutilised site and create a sophisticated and contemporary mixed-use offering situated in the heart of Sydney.”

Total apartments within the towers have increased to 607 dwellings, with a focus on larger floorplans. Aligned to growing market demand, Castlereagh Place now comprises 299 three-plus-bedroom apartments, 198 two-bedroom units and 110 one-bedroom configurations.

[smartcode_project:default project_id=134477 project_image_fid=374402]

Resident amenities will include an exclusive residents club containing a gym, rooftop pool, dining rooms, co-working spaces, library, golf simulator, games room, cinema room, and access to an exclusive concierge service. There will be around 500 basement car spaces below the towers.

The development will also include a state-of-the-art wellness centre, set to feature a bathhouse with magnesium pools, hot/cold plunge pools and premium amenities.

&nbsp;

According to fjcstudio, the towers will feature distinctive yet elegant architectural design reflecting Sydney’s geometry and urban character, with a network of through-site links and intimate public spaces activating the streetscape.

"Castlereagh Place is a city-making project of significant scale and ambition," said Richard Francis-Jones, Design Director at fjcstudio.

"It will create a rich urban complex of public open spaces, landscaped gardens, and vibrant laneways. Defining these new public spaces and the important streetscape of Castlereagh Street is a sequence of fine-grained, diverse retail and hotel architecture designed in collaboration with Aileen Sage, Polly Harbison Design and Trias.

“Rising above the tree-lined, human-scale streetscape are two slender residential towers that will transform the city skyline and look towards the Harbour, Hyde Park, and the Royal Botanic Garden.”

Demolition and early construction works have commenced onsite at Castlereagh Place.

[smartcode_project_cta:default project_id=134477]

Billbergia, Metrics, approved for $3.5 billion Sydney skyscrapers

International developer&nbsp;<a href="https://www.apartments.com.au/developers/spg-land">SPG Land</a> is preparing to re-launch its long-awaited $1.5 billion <a href="https://www.apartments.com.au/new-apartments/paradiso-place-surfers-paradise-103-ferny-avenue-surfers-paradise-qld-4217">Paradiso Place</a> development at Budds Beach, bringing a new price point to the Surfers Paradise apartment market.

The developer will release one-bedroom apartments from $825,000 and two-bedroom apartments from $1.24 million in the three-tower development.

According to Urbis, the starting price for the two-bedroom apartments is more than $400,000 below the weighted average sale price for comparable two-bedroom apartments in Surfers Paradise during 2025, which was pinned at $1.7 million.

&nbsp;

Urbis reported quarterly average sale prices for new two-bedroom, two-bathroom apartments ranged from around $1.2 million to $1.7 million throughout 2025, peaking in the December quarter.

[smartcode_project:default project_id=106566 project_image_fid=185853]

Paradiso Place is now moving into its formal sales campaign, with a limited early-release opportunity available ahead of the public launch.

The development will comprise 845 apartments across three towers rising 40, 41 and 44 storeys from a 1.15-hectare site spanning an entire city block. The towers will sit above a new retail precinct.

"Paradiso Place represents a rare opportunity in today's market, offering premium apartments at a price point that is significantly more competitive than anything else currently available," SPG Land Sales Director Brad McMahon said.

"When you look at comparable new developments across Surfers Paradise, Main Beach and the Southern Beaches precinct, buyers are typically paying hundreds of thousands more for a similar product.

"The scale of this project and the developer-builder construction model allows us to unlock efficiencies that smaller developments simply cannot achieve. We are passing those benefits directly to buyers, while still delivering a five-star residential experience with an unmatched lifestyle."

[smartcode_project:default project_id=106566 project_image_fid=374280]

Each of the three towers designed by Rothelowman will have its own podium, connected by an elevated skybridge network to create a beachside village for residents. The resident amenity has been designed to rival a five-star hotel, with private dining rooms, resident lounges and entertainment spaces.

McMahon said the pricing strategy was a deliberate response to the current market.

"What Paradiso Place offers is a unique balance, genuine value within a premium market. Buyers are not compromising on quality, design or amenity, they are gaining access to it at a more competitive price point at a time when prices across the Gold Coast continue to reach new highs."

[smartcode_project:default project_id=106566 project_image_fid=362498]

Located around 100 metres from the beach and within walking distance of the Surfers Paradise North light rail station, Paradiso Place occupies one of the Gold Coast's most tightly held beachfront precincts.

Construction is continuing to progress, with eight of the project's 112 foundation piles now complete. Excavation has also commenced on the first diaphragm wall panel, with the first concrete poured on 15 June, marking a key milestone in the project's early works program.

[smartcode_project_cta:default project_id=106566]

SPG Land launches $1.5 billion Paradiso Place at attractive price point

Luxury developer-builder <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> has achieved a new Victorian benchmark for an off-the-plan apartment, with the sale of two penthouses at its ultra-exclusive Maison Savoy development in Brighton.

The two penthouses achieved a combined sale rate of $49,926 per sqm. Both transactions eclipsed the previous identified Victorian off-the-plan price-per-square-metre benchmark, set by the 449 sqm apartment at Como Toorak, which sold at $46,659 per sqm.

[smartcode_project:default project_id=140818 project_image_fid=366473]

<a href="https://www.apartments.com.au/new-apartments/maison-savoy-brighton-150-esplanade-brighton-vic-3186">Maison Savoy</a>, Lowe Living's redevelopment of the former Brighton Savoy Hotel on absolute beachfront land at 150 The Esplanade, Brighton, has gained significant momentum since launching just eight weeks ago. Around 30 per cent of the project's 19 residences have already been secured, generating approximately $45 million in sales.

"Securing two of the three penthouse sales at this stage, within eight weeks of launching to market speaks to the confidence our clients place in Lowe Living," Lowe Living co-founder Emma Lowe said.

"They know we'll be with them through every stage of the journey, and that assurance is something we've worked hard to earn and never take for granted."

[smartcode_project:default project_id=140818 project_image_fid=366474]

Lowe said Maison Savoy was conceived as a genuine alternative to a prestige Brighton home, combining house-scale proportions with the convenience, security and lock-up-and-leave appeal of apartment living.

Lowe Living co-founder Tim Lowe said the early sales success demonstrated the resilience of Melbourne's prestige market and highlighted the growing demand for house-sized apartments among ultra-high-net-worth buyers.

"The Melbourne market has definitely been tested in recent years, with interest rates and global economic factors all creating a period of uncertainty across the real estate sector. The sales success at Maison Savoy however demonstrates that confidence remains exceptionally strong at the top end of the market.

"The prestige market is being driven by long-term lifestyle decisions rather than short-term market sentiment, which continues to create a level of certainty that befits an absolute beachfront property in a blue-chip location like Brighton.

"Brighton's fundamentals remain among the strongest in Melbourne, with limited new supply, enduring demand from an overwhelmingly local owner-occupier market, and a rare combination of beachfront amenity and proximity to the CBD."

[smartcode_project:default project_id=140818 project_image_fid=374378]

According to Cotality, Brighton remains one of Melbourne's most tightly held prestige suburbs, with an average ownership tenure of 15.3 years for houses and 12.3 years for units, while more than 73 per cent of homes are owner-occupied.

Tim Lowe said selling two of the project's three penthouses so early in the campaign was an uncommon result.

"This sales result is a reflection of quality and understanding the local market. It's incredibly rare to transact the penthouses so early in a sales campaign in any project so to have sold two of the three penthouses at Maison Savoy so soon after launch, all in-house without any external sales agency appointed, is reflective of our careful consideration of our buyers' needs and lifestyle.

"This is knowledge that is accumulated not just from data and demographic analysis, but via a deeply embedded understanding of how this type of buyer wants to live and feel in their home. We pride ourselves on getting to know our clients personally, and over the last 10 years we have been able to refine our product offering by talking one-on-one with our clients about their design and floorplan preferences.

"Being a fully integrated developer-builder with an in-house design and sales team allows us to lead every part of the process and ensure the highest quality of product and service at every touchpoint. It's a really important part of our DNA and the recent sales success at Maison Savoy indicates that our clients and purchasers are resonating with this point of difference.

"It reinforces that demand remains strong for thoughtfully designed residences that offer rarity, lifestyle and long-term value in tightly held locations, which ultimately validates Maison Savoy's positioning as creating a new benchmark for house-scale, wellness-led apartment living on Brighton's beachfront."

&nbsp;

[smartcode_project:default project_id=140818 project_image_fid=366480]

The residences at Maison Savoy start from 295 sqm, with most enjoying uninterrupted views across Port Phillip Bay. The project sits moments from the Brighton Bathing Boxes, Royal Brighton Yacht Club, Middle Brighton Baths and Church Street's retail and dining precinct.

A key feature of the development is its private residents-only bathhouse, curated by the founder of Aurora Spa &amp; Bathhouse and modelled on traditional European bathing rituals and the award-winning Sorrento bathhouse.

The wellness offering includes a hydrotherapy pool, salt room, sauna, steam room, cold plunge pool, foot activation zone and a Vichy rainfall bed, one of only a handful in Australia. Residents will also have access to a Technogym studio, lounge spaces and a dedicated concierge service offering everything from morning coffee delivery and restaurant bookings to dry cleaning and home coordination.

"Wellness-led design has become a defining factor for luxury buyers," Emma Lowe said.

"Purchasers increasingly value homes that enhance wellbeing through thoughtful design, private amenity, privacy and liveability."

The penthouse purchasers are now undertaking a bespoke customisation process curated personally by architect Pete Kennon and the Lowe Living team, one of the developer's signature service offerings.

Construction on the $160 million transformation of the former Brighton Savoy Hotel site commenced last month, with completion expected in early 2028. The project has secured funding from NAB alongside development partner Monark.

Just one penthouse remains available, along with a limited number of two and three-bedroom residences starting from $3.75 million.

Lowe Living currently has eight projects on the market across Melbourne and recently celebrated its 10th anniversary, having grown a $1 billion development pipeline alongside a $350 million construction pipeline.

&nbsp;

[smartcode_project_cta:default project_id=140818]

Lowe Living set new Melbourne off the plan apartment record

For more than three decades, Hyecorp has been delivering residential projects across Sydney's Lower North Shore, building a portfolio centred on design-led apartment living in some of the city's most established neighbourhoods.

Hyecorp recently launched the latest in its long line of apartment developments, Celine, a 29-storey tower on Archer Street in Chatswood. Like the majority of the developer's projects, Celine caters to a broad buyer demographic, offering a mix of one, two, three and four-bedroom apartments, all designed with owner-occupiers in mind.

Functionality and flexibility are often buzzwords in the new apartment market, but they sit at the core of Hyecorp's design philosophy.

Hyecorp Joint Managing Director Stephen Abolakian says the developer understands it isn't designing apartments for today's needs alone, but for how buyers will live several years into the future.

"When we launch our projects we need to be aware that these developments aren't finished for several years," Abolakian says.

"That home office in the here and now might be a nursery by the time the project completes for a prospective buyer, so we need to think about how the apartment spaces function for future uses so there's longevity in the ownership."

Celine's architects, Fuse, followed the same philosophy, saying the design extends well beyond aesthetics.

"Celine focuses on timeless architectural form and functionality, with a strong emphasis on light, proportion and materiality. The design responds to the urban context of Chatswood while delivering calm, highly liveable interiors that feel both contemporary and enduring. The floorplans have been carefully resolved to maximise usability and outperform typical market offerings in terms of efficiency and liveability."

Most apartments incorporate multipurpose rooms designed for flexibility. Each includes an integrated desk and a standard Murphy pull-down single bed, allowing the space to transition from a home office or study to guest accommodation as needs change. The layouts have also been designed to maximise natural light, storage and overall functionality.

One and two-bedroom apartments feature Miele appliances, while three and four-bedroom residences are appointed with integrated Gaggenau appliances and Taj Mahal stone benchtops.

Buyers who purchase early in the construction process can also take advantage of Hyecorp's "Live Your Way" interior design service, allowing them to personalise finishes and tailor elements of their home to suit their own lifestyle. It's a feature designed to appeal to owner-occupiers who want their apartment to feel uniquely theirs from the day they move in.

[smartcode_project:default project_id=149594 project_image_fid=362614]

While flexible floorplans have become a hallmark of Hyecorp's apartment design, the developer has also continued to place significant emphasis on resident amenity.

As buyers increasingly expect more from apartment living, shared spaces have evolved beyond a gym and barbecue area. They are now an extension of the home, providing spaces to relax, exercise, entertain and connect with neighbours.

At Celine, the resident amenity has been designed with a focus on wellness, centred on the level six podium. An infinity-edge swimming pool, spa, sauna and fully equipped gym are complemented by barbecue facilities and a residents' lounge, creating a range of spaces for relaxation, recreation and social connection above the streets of Chatswood.

Practical conveniences have also been integrated throughout the building, including EV charging provisions, smart parcel lockers, bicycle storage, a pet wash station and dedicated car wash bays, reflecting the project's focus on making everyday living as seamless as possible.

[smartcode_project:default project_id=149594 project_image_fid=362633]

"Celine has been designed to deliver a refined residential experience that reflects the evolution of Chatswood into a premium urban centre,"&nbsp;Abolakian says.

"With over 30 years of experience delivering projects across Sydney's Lower North Shore, Hyecorp brings a deep understanding of what local buyers value. Every detail has been considered to balance luxury, functionality and long-term liveability. This is not just about apartments, but about creating a lasting residential address for discerning buyers."

Hyecorp, vertically-integrated builder-developer, is anticipating construction commencement later this year.

[smartcode_project_cta:default project_id=149594]

Staff reporter

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