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A Mirvac executive allegedly had tradies build a union boss's Brisbane home with the bills allocated instead to the Orion Springfield Central shopping centre project using false invoices.
The former Mirvac executive Mathew McAllum and the ex-CFMEU Queensland senior-vice president David Hanna are accused of corruptly giving and receiving a secret commission.
The work was allegedly done to complete the five-bedroom, three-bathroom Cornubia home.
Both men deny the charge in the Brisbane District Court matter.
The Brisbane Times reported the hearing on Monday heard that the $290,000 worth of building works was conducted between February and November 2013.
"The end result is that David Hanna received construction work for goods arranged by an employee of Mirvac, primarily Mr McAllum, for free," the court was told. 
<div>
McAllum was a former project manager on the shopping centre development.
The paperwork described the cost of building Hanna's home as a cost variation to the original quote for Orion.
</div>
<div>The court heard a second former Mirvac executive, Queensland commercial construction boss Adam Moore, was also allegedly involved in the scheme but had since died.</div>
<div> </div>
<div>Orion was developed at Springfield Lakes by the publicly listed Mirvac in 2007 and underwent a major expansion that completed in 2016.</div>
 
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j.ballantyne1990-6AQqhLzZaK

Mirvac money allegedly built CFMEU boss's Cornubia home instead of Orion shopping centre

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Greater Melbourne house values have started showing signs of a recovery in the third quarter but remain 12.5% below their peak, according to the latest data from Moody's Analytics.
They found, this follows a decline in prices for 18 months prior to the reversal which began in June.
The fall in house values has been most pronounced in Melbourne’s inner suburbs, particularly Inner South, where house values have fallen by as much as 19% from their peak.
However, the steady decline in house values in the Greater Melbourne area, which decelerated further by mid-2018, has gradually settled through the second quarter and started to reverse by the third quarter as values have picked up, rising by 1.3% in August.
The decline in unit values across Greater Melbourne in recent months has been less pronounced than the decline in detached houses.
Moodys noted that there is a notable pickup over the third quarter, as the month-over-month change in unit values rose to 1.5% in August. 
<img src="https://www.urban.com.au/images/2019/10/28/VIC%20Moodys.JPG" alt="">
Katrina Ell, Economist at Moody’s Analytics said: "The recovery in house values in the Greater Melbourne area is broad-based but led by a notable pickup in Inner East, where month-over-month growth in house values was 2.6% in August. In comparison, there are signs of a more delayed recovery in the North East and Outer East, and a weaker month-over-month pickup in West, North West and Mornington Peninsula suburbs.
"In contrast, house values across regional parts of Victoria have experienced more persistent weakness as home values continued to fall through August in most regions, with particular weakness in Bendigo, Warrnambool, South West, Shepparton and Hume.
"Elsewhere in regional Victoria, there are initial signs of a recovery in home values, namely, in Geelong and Latrobe-Gippsland.
"While unit values have risen in Ballarat, Hume and Latrobe in August, unit values have continued to decline in other suburbs such as Shepparton, Warrnambool and South West. Meanwhile, unit values in Bendigo have risen notably since March."
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Inner Melbourne's inner east to lead property recovery efforts: Moody's Analytics

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Queensland’s housing market has fared better than that in most other states, although it is still not immune to the nationwide downturn, according to the latest data from Moody's Analytics.
The Queensland property market consists of three distinct groups.
The first region constitutes the bulk of Brisbane, which has experienced healthy growth up to 2018 because of the improved services sector — but now is experiencing a moderate correction, though prices are expected to recover next year, especially for apartments. 
The contrast between apartment and house values is most evident in Brisbane-North, where house prices are expected to grow 0.4% in 2020, while apartment prices are set to rise by 6.2%; there is a similar spread for other regions in Brisbane and Greater Brisbane.
Consequently, apartment prices are expected to perform better than house prices for Brisbane (and Greater Brisbane) in the medium term.
Moody’s Analytics forecasts house values to underperform throughout the forecast period, while apartment prices are expected to grow faster after a trough in late 2019 to early 2020.
This is reversal of trend between the two asset classes from the past few years
<img src="https://www.urban.com.au/images/2019/10/28/QLD%20Moodys.JPG" alt="">
Katrina Ell, Economist, Moody’s Analytics said: "The effects of a higher supply of houses in the pipeline as well as muted income and employment growth mean that house and apartment values in Brisbane-South will contract by 3.5% and 2.6%, respectively, in 2019, though the area’s prospects for apartment prices in 2020 are better.
"In Greater Brisbane areas such as Ipswich, dwelling prices are suffering after heavy falls in apartment values in 2018, following a period of oversupply.
"The second housing area comprised of ‘lifestyle areas’ including the Sunshine Coast, Wide Bay and Cairns, are generally expected to perform better over the forecast period.
"The third housing market region in Queensland comprises commodity or agriculture-producing areas. These include Central Queensland, Mackay-Isaac-Whitsunday, and Darling Downs-Maranoa.
"Housing markets here have seen significant value declines over the past few years partly as a result of the end of the mining boom.
"This year’s uptick in commodity prices and tourism has seen recoveries in areas such as Mackay. However, areas that are more agriculturally geared are forecast to suffer continued declines on the back of drought conditions."
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Brisbane apartments look to flip the script and outperform houses: Moody's Analytics

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The Western Australia housing market took a turn for the worse over the last quarter with broad-based downgrades, according to the latest data from Moody's Analytics
They found, despite support from lower interest rates and the continued strength of non-rural commodity prices, dwelling prices remain in a slump after the mining boom.
The labour market in Western Australia has been comparatively weak for some time, with the growth in employment lower than the national average since 2015.
Plus, average weekly earnings contracted over the year to May, the second worst performance among states after the Northern Territory.
Given the subdued conditions, Moody's Analytics forecast is for the housing market is expected to continue declining in 2019, with the trough not likely until 2020, after which conditions will begin to pick up before a modest recovery in 2021.
<img src="https://www.urban.com.au/images/2019/10/28/WA%20Moodys%201.JPG" alt="">
Katrina Ell, Economist at Moody’s Analytics said: "Greater Perth’s house values are expected to fall 7.8% in 2019, building on the 1.8% drop in 2018.
"Mandurah is expected to experience the greatest fall in house prices this year, before stalling in 2020, while Perth Inner and Perth-North West are expected to perform the worst in apartments, which will have double-digit falls. Conditions will improve for both in the following year, but prices are forecast to still be below 2017’s in the medium term.
"Median rental values in Western Australia fell more than 20% peak to trough from November 2013 to September 2016, a sign of continued excess supply. Since then, rental values have remained broadly stable.
"A slow recovery in rental value over the next two years will help the housing market recover.
"Perth-North West, encompassing Joondalup, Stirling and Wanneroo, is representative of trends across Greater Perth. While apartment prices will likely remain weak over 2019-2020, house values will fare better, with less of a decline this year followed by a modest recovery in the next."
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Western Australia's housing market still down over the quarter

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The four-bedroom, three-bathroom Tamarama home of Europe-bound Gina Rodgers and Surteco Australia managing director Max Metzler has been listed with record settling hopes.
The 28 Wolaroi Crescent home was last traded for $4.4 million in 2006.
They have only recently completed the home designed by the Paris-based Lebanese architect Yola Noujaim.
<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/2019/10/30/tamaram%202%201.jpg" alt="">
With park and ocean views, it has $16 million hopes through Christies International.
The current suburb record is $13 million, set when fashion entrepreneur Robby Ingham and his wife Sarah sold in Gaeroloch Avenue two years ago.
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Wolaroi Crescent, Tamarama home designed by architect Yola Noujaim listed at $16 million

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GUEST OBSERVATION
Any moves to greatly increase the population of northern Australian by 2060 could have a devastating impact on the local environment without long-term careful planning by all tiers of government.
That’s the finding of <a href="https://tandfonline.com/doi/abs/10.1080/07293682.2019.1620302" target="_blank" title="The consequences of three urbanisation scenarios for northern Australia">research</a> that looked at several scenarios to increase the population of the north to 5 million people.
That’s an extra 3.7 million people, or an almost four-fold increase in the current population of northern Australia.
But, given the potential impact of climate change on northern Australia, we could see population movement the other way as people in the north head south.
Northern exposure
The region of Australia above the Tropic of Capricorn covers an area of 3,500,000km² – about 45% of Australia’s landmass – yet it houses only 5% of its population.
Proponents of development envisage extreme population growth because of the region’s growing geopolitical importance.
Northern Australia has <a href="https://adcforum.org/wp-content/uploads/2015/02/NDS14_report_web_sample.pdf" target="_blank" title="NORTHERN DEVELOPMENT Creating the future Australia">already been identified</a> as a “gateway to Asia”.
It’s also <a href="https://www.jstor.org/stable/j.ctt24h8n3" title="The Nature of Northern Australia: Its natural values, ecological processes and future prospects">described</a> as the largest intact “savanna remaining on Earth […] with a rich biodiversity of international significance”.
Current federal government planning for northern Australia is in the <a href="https://www.industry.gov.au/data-and-publications/our-north-our-future-white-paper-on-developing-northern-australia">Our North, Our Future</a> white paper, released in 2015.
The report adopts a pro-development stance, seeing the north as a place of economic bounty and opportunity.
While it is mute on issues of settlement patterns, there are statements that allude to the government’s support for significant urbanisation:
We need to lay the foundations for rapid population growth and put the north on a trajectory to reach a population of four to five million by 2060.
The white paper also refers to “the development of major population centres of more than a million people”. Such cities would be around six times the size of the current largest northern city of Townsville, <a href="https://quickstats.censusdata.abs.gov.au/census_services/getproduct/census/2016/quickstat/UCL303004?opendocument">population about 180,000</a>.
Three plans for growth
Given the existing city planning documents do not countenance the scale of population growth projected in the white paper, we developed three scenarios for how the federal government could distribute this northern Australian population of 5 million by 2060.
<ul>
<li>Scenario 1: Growth</li>
</ul>
<a href="https://images.theconversation.com/files/298027/original/file-20191022-56220-fspunk.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/298027/original/file-20191022-56220-fspunk.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Scenario 1: Growth. Julian Bolleter, Author provided
Economic and lifestyle factors concentrate the increased population in the four dominant northern cities of Darwin, Cairns, Townsville and Mackay. Each would have populations of more than a million by 2060.
<ul>
<li>Scenario 2: Decentralised Growth</li>
</ul>
<a href="https://images.theconversation.com/files/298028/original/file-20191022-56198-16qw0fx.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/298028/original/file-20191022-56198-16qw0fx.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Scenario 2: Decentralised Growth. Julian Bolleter, Author provided
The populations of Port Hedland, Broome, Kununurra, Darwin, Cairns, Bowen, Townsville and McKay will each increase by 462,000 people.
<ol>
<li>Scenario 3: Concentrated Growth</li>
</ol>
<a href="https://images.theconversation.com/files/298029/original/file-20191022-56242-1q6fv76.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/298029/original/file-20191022-56242-1q6fv76.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Scenario 3: Concentrated Growth. Julian Bolleter, Author provided
Economic opportunities see northern Australia’s growing population concentrated in Darwin, which would grow by 1.5 million people by 2060.
This figure is in line with the Australian government’s vision of northern cities with “more than a million people”.
The fate of the north
Irrespective of the scenario, our findings show population growth will not be good for the local environment without any overarching long-term planning frameworks to steer urbanisation.
This is particularly the case for scenarios 1 and 3 where the required increase in urban area either outstrips, or is only just commensurate with, the availability of cleared land adjacent to Darwin, Cairns and Townsville.
As such, population growth at the scale proposed by the white paper could result in substantial destruction, degradation and fragmentation of peri-urban ecosystems – where urban meets rural – by urban development and expanding road networks.
<a href="https://images.theconversation.com/files/298034/original/file-20191022-56228-1mcel56.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/298034/original/file-20191022-56228-1mcel56.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Scenario 1: Growth for Darwin. Julian Bolleter, Author provided
In Darwin’s case, in Scenario 1 the additional 925km² of urbanisation required would sprawl south of the city in a corridor to as far as Humpty Doo (1) and down to Acacia Hills (2).
<a href="https://images.theconversation.com/files/298033/original/file-20191022-56215-1cto1wd.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/298033/original/file-20191022-56215-1cto1wd.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Scenario 1: Growth for Townsville. Julian Bolleter, Author provided
In Townsville, in Scenario 1 for growth, the additional 925km² of urbanisation would result in sprawling along the coast and around the existing centres of Giru (1) and Woodstock (2), and around Mount Surround (3).
While Townsville has 957km² of cleared land and theoretically could just accommodate this growth, it is likely to cause extensive damage to the local environment through land degradation and fragmentation by urban development.
<a href="https://images.theconversation.com/files/298035/original/file-20191022-56224-1294zua.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/298035/original/file-20191022-56224-1294zua.jpeg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Scenario 3: Concentrated Growth for Darwin. Julian Bolleter, Author provided
In Darwin, with Scenario 3 and concentrated growth, the urban expansion required for the city is 1,500km². This would dwarf the city’s 296km² of developable land and result in substantial clearing of remnant vegetation.
Proper planning required
Clearly then, if the scale of population growth envisaged in the white paper occurs without any comprehensive planning, the result will be harmful for the north.
To avoid this fate we need a bipartisan settlement strategy (most closely resembling Scenario 2) to steer the urbanisation of northern Australia.
Policymakers and planners should develop this strategy based on a comprehensive landscape analysis of northern Australia. If the scale of population growth envisaged in the white paper occurs without such planning, the result will be ruinous for one of the world’s last great wildernesses.
But the federal government should also decide whether a population of 5 million in the north is something we should aspire to at all.
If the worst climate change projections are borne out, we could end up with migration from cities such as Darwin to cities further south, even into the southern states.<img src="https://counter.theconversation.com/content/125063/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;">
Julian Bolleter<a href="https://theconversation.com/profiles/julian-bolleter-292111"></a>, Deputy Director, Australian Urban Design Research Centre, <a href="http://theconversation.com/institutions/university-of-western-australia-1067" target="_blank">University of Western Australia</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/you-cant-boost-australias-north-to-5-million-people-without-a-proper-plan-125063" target="_blank">original article</a>.
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You can’t boost Australia’s north to 5 million people without a proper plan: Julian Bolleter

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Victoria’s housing market is bouncing back from the recent downturn, according to the latest REIV quarterly median price data.
A springtime boost is helping to restore the housing market with house prices up by 4.5% in the latest REIV September Median Quarterly, while the price of units has grown by 3.9%.
Melbourne’s growth of 4.5% is the highest quarterly result since March 2017.
Melbourne’s housing growth was led by the northern suburbs with Preston achieving the highest quarterly growth with 25.7%, closely followed by the neighbouring Coburg on 20.8%.
Melbournes highest growth was in middle Melbourne, where house prices grew by 8.3%.
Doreen overtook Pakenham and Cragieburn to achieve the most number of housing sales during the September Quarter. 
Donvale remains Melbournes most consistent suburb, being the only area to achieve positive growth both quarterly and yearly.
The growth was shared across the board in regional Victoria with unit prices increasing by a massive 7.1%.
Bendigo is the top regional housing performer, scoring 11.9% quarterly and 29.7% annual growth. 
While Churchill and Moe have been crowned as the two most affordable suburbs in regional Victoria.
REIV Presidents Leah Calnan said the September quarter has brought the news prospective sellers have been waiting to hear.
“Enthusiasm is growing as prices surge and properties are being snapped up more quickly, this is the perfect time to get on the market,” Calnan said.
“Warmer spring weather, lower interest rates and easier loaning protocols have resulted in significant growth for Victoria’s real estate sector.
“Growing prices and increasing sales are great news for everybody, and our market is in the midst of a much-needed recovery.
“The September Quarterly results make for great reading, but we are not out of the woods yet.”
September Quarter 2019 Median Prices
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Median Prices, Seasonally Adjusted
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Note: Year-on-year growth is based on rolling annual figures
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</td>
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Sep-19 Quarter
</td>
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Jun-19 Quarter
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Quarterly Change
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<td valign="top">
12 months to Sep-19 Quarter
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12 months to Sep-18 Quarter
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Annual Change
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Metropolitan Melbourne
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House
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$830,000
</td>
<td valign="top" nowrap>
$794,000
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4.5%
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$810,000
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<td valign="top" nowrap>
$835,500
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-3.1%
</td>
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Unit and Apartment
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$613,500
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$590,500
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3.9%
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$595,000
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$597,500
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-0.4%
</td>
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Regional Victoria
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House
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$408,500
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<td valign="top" nowrap>
$405,000
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0.9%
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$410,000
</td>
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$395,000
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3.8%
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Unit and Apartment
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$302,500
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$282,500
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7.1%
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$295,000
</td>
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$290,000
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1.7%
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Sep-19 Quarter
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Jun-19 Quarter
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Quarterly Change
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12 months to Sep-19 Quarter
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<td valign="top">
12 months to Sep-18 Quarter
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Annual Change
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Inner Melbourne
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House
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$1,379,500
</td>
<td valign="top" nowrap>
$1,342,500
</td>
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2.8%
</td>
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$1,381,000
</td>
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$1,526,000
</td>
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-9.5%
</td>
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Unit and Apartment
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$601,000
</td>
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$587,500
</td>
<td valign="top" nowrap>
2.3%
</td>
<td valign="top" nowrap>
$590,000
</td>
<td valign="top" nowrap>
$595,000
</td>
<td valign="top" nowrap>
-0.8%
</td>
</tr>
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Middle Melbourne
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House
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$983,000
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$907,500
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8.3%
</td>
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$925,000
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<td valign="top" nowrap>
$1,005,000
</td>
<td valign="top" nowrap>
-8.0%
</td>
</tr>
<tr>
<td valign="top" nowrap>
Unit and Apartment
</td>
<td valign="top" nowrap>
$680,500
</td>
<td valign="top" nowrap>
$654,000
</td>
<td valign="top" nowrap>
4.1%
</td>
<td valign="top" nowrap>
$655,000
</td>
<td valign="top" nowrap>
$661,000
</td>
<td valign="top" nowrap>
-0.9%
</td>
</tr>
<tr>
<td valign="top" nowrap>
Outer Melbourne
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
</tr>
<tr>
<td valign="top" nowrap>
House
</td>
<td valign="top" nowrap>
$658,500
</td>
<td valign="top" nowrap>
$631,000
</td>
<td valign="top" nowrap>
4.4%
</td>
<td valign="top" nowrap>
$645,000
</td>
<td valign="top" nowrap>
$675,000
</td>
<td valign="top" nowrap>
-4.4%
</td>
</tr>
<tr>
<td valign="top" nowrap>
Unit and Apartment
</td>
<td valign="top" nowrap>
$519,500
</td>
<td valign="top" nowrap>
$496,000
</td>
<td valign="top" nowrap>
4.7%
</td>
<td valign="top" nowrap>
$505,500
</td>
<td valign="top" nowrap>
$515,000
</td>
<td valign="top" nowrap>
-1.8%
</td>
</tr>
<tr>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
</tr>
<tr>
<td valign="top" nowrap>
 
</td>
<td valign="top">
Sep-19 Quarter
</td>
<td valign="top">
Jun-19 Quarter
</td>
<td valign="top">
Quarterly Change
</td>
<td valign="top">
12 months to Sep-19 Quarter
</td>
<td valign="top">
12 months to Sep-18 Quarter
</td>
<td valign="top">
Annual Change
</td>
</tr>
<tr>
<td valign="top" nowrap>
Auctions
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
</tr>
<tr>
<td valign="top" nowrap>
House
</td>
<td valign="top" nowrap>
$978,000
</td>
<td valign="top" nowrap>
$925,500
</td>
<td valign="top" nowrap>
5.7%
</td>
<td valign="top" nowrap>
$950,000
</td>
<td valign="top" nowrap>
$950,000
</td>
<td valign="top" nowrap>
0.0%
</td>
</tr>
<tr>
<td valign="top" nowrap>
Unit and Apartment
</td>
<td valign="top" nowrap>
$695,000
</td>
<td valign="top" nowrap>
$652,000
</td>
<td valign="top" nowrap>
6.6%
</td>
<td valign="top" nowrap>
$666,000
</td>
<td valign="top" nowrap>
$670,000
</td>
<td valign="top" nowrap>
-0.6%
</td>
</tr>
<tr>
<td valign="top" nowrap>
Private Sale
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
</tr>
<tr>
<td valign="top" nowrap>
House
</td>
<td valign="top" nowrap>
$727,000
</td>
<td valign="top" nowrap>
$715,500
</td>
<td valign="top" nowrap>
1.6%
</td>
<td valign="top" nowrap>
$730,000
</td>
<td valign="top" nowrap>
$750,000
</td>
<td valign="top" nowrap>
-2.7%
</td>
</tr>
<tr>
<td valign="top" nowrap>
Unit and Apartment
</td>
<td valign="top" nowrap>
$554,000
</td>
<td valign="top" nowrap>
$542,000
</td>
<td valign="top" nowrap>
2.2%
</td>
<td valign="top" nowrap>
$545,000
</td>
<td valign="top" nowrap>
$539,000
</td>
<td valign="top" nowrap>
1.1%
</td>
</tr>
</tbody></table>
 
</div>
</body></html>

Victoria's residential prices bouncing back 

<html><body>
Sydney’s housing market has started to emerge from its correction, according to the latest data from Moody's Analytics.
They found, Sydney apartment values began expanding from June, while house values enjoyed gains from July and, in both cases, modest improvement is forecast to continue.
House values will fall an average of 8.4% in 2019, before a 7.7% expansion in 2020. This follows a 5.5% decline in 2018.
Moody’s Analytics identified previous episodes of corrections over the last three decades (see Chart 11). This shows that the recent correction has been the longest and steepest on record for the Sydney market.
<img src="https://www.urban.com.au/images/2019/10/28/NSW%20Moodys%202.JPG" alt="">
The most recent peak in house and unit values was around mid-2017.
Although unit values have corrected, it has not been to the same extent as houses.
Unit values are on track to fall by an average of 5.9% in 2019 after a 3.1% drop in 2018. An improvement of 7.9% is expected in 2020, followed by an improvement of 8.4% by 2021.
Click <a href="https://www.propertyobserver.com.au/images/2019/10/28/NSW%20Moodys.JPG" target="_blank">here</a> to enlarge.
<img src="https://www.urban.com.au/images/2019/10/28/NSW%20Moodys.JPG" alt="">
According to Moody's Analytics economist Katrina Ell, "house values in the City and Inner South area have passed their trough after a sharp decline through 2018."
"The Inner South West is on track to see a 12.9% fall in 2019, after a 5.3% fall in 2018. A 6% expansion is forecast for the Inner South West in 2020."
"The correction in Sydney is forecast to have largely passed by 2020, but home value growth will be far from the lofty gains of recent years. Housing values are forecast to rise by an average of 7.7% for houses and 7.9% for apartments."
"Areas outside metropolitan Sydney are mostly on track to escape the bulk of the correction."
"As potential homebuyers’ incomes have not kept pace with the Sydney housing market, demand has increased for areas outside of Sydney, where affordability is better."
"Areas including the Hunter Valley, excluding Newcastle, have become attractive destinations for those still tied to Sydney for employment but for whom purchasing property would stretch the household budget too far.
"These areas have adequate transport links back to Sydney for frequent commuting."
"House values in the Hunter Valley are forecast to fall by 2.1% in 2019 and rise by 3.6% in 2020, after increasing 6.6% in 2018."
</body></html>

Sydney housing market emerging from correction: Moody's Analytics

<html><body>
The Gunter family has listed Ben Cruachan Pastoral, the grazing property at Maffra West.
The <a href="https://www.commercialrealestate.com.au/property/3-huggetts-road-maffra-west-upper-vic-3859-2015768350" target="_blank">1,281 hectare Huggetts Road estate</a> comes with a homestead with mountain views.
It is being offered as a whole or in five separate lots.
The Ben Cruachan homestead sits on one title spanning 101.18 hectares.
The whole property, ideally suited to cattle and timber production, has $3.3 million hopes.
<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/2019/10/28/Ben%20Cruachan%20Pastoral.jpg" alt="">
The family is also selling <a href="/news/toorak-trophy-carmyle-one-of-the-suburbs-first-homes-hits-the-market">one of Toorak's oldest trophy homes</a>.
Ben Cruachan Pastoral was part of the estate of the urologist David Gunter, who died 2015, and his wife Judy, who died in December.
The couple, who had seven children, hosted musical performances at their 14-bedroom Italianate Toorak mansion Carmyle, which they bought in 1969.
 
 
</body></html>

Gunter family list Maffra West farm Ben Cruachan Pastoral

<html><body>
The latest CoreLogic home value data shows the national housing market moving out of its correction, led by Sydney and Melbourne, according to Moody's Analytics.
The national index for home values has fallen for almost two years but now house values have begung to rise starting in the September quarter.
National house values are on track to fall by 7% in 2019, before rising by 5.4% in 2020. Apartment values are forecast to fall by 3.8% in 2019, before rising by 5.1% in 2020.
The RBA has reduced the cash rate by 75 basis points so far this year to 0.75% and a further 25-basis point reduction is expected for early 2020, according to Moody's Analytics.
Katrina Ell, Economist at Moody’s Analytics said that for 2019 and 2020 Moody's has individual City and state forecasts, "drilling into the details, house values across Sydney are on track to fall by 8.4% in 2019, before a forecast 7.7% expansion in 2020. Apartment values are set to decline by 5.9% in 2019, followed by a forecast 7.9% expansion in 2020."
"House values began rising from July, while apartment values began improving from June."
"House values in Melbourne are set to fall by 9.2% in 2019, building on the modest 0.3% decline in 2018. Like Sydney, the correction has largely passed and house values are forecast to rise by 7% in 2020 and a further 7.8% in 2021," she said.
"House values in Brisbane will see a modest full-year correction in 2019, with values estimated to fall by 1.8%, with particular weakness in South Brisbane house values. A relatively mild correction is forecast for apartment values in 2019, with a 1.3% forecast decline in 2019, following a 1% fall in 2018. This year is predicted to be the worst for Brisbane’s apartment market before it transitions to a projected 5.4% rise in 2020."
"House values in Perth will likely decline 7.8% in 2019, followed by a further 0.7% decline in 2020. Meanwhile, Adelaide’s housing market will continue its stable run, with house values forecast to fall by a modest 0.5% in 2019 after a 1.9% gain in 2018."
"House values in Hobart are on track to grow by 4.1% in 2019 and a further 1% in 2020. Similarly, the Hobart apartment market will likely decelerate from 12.2% growth in 2018 to 2.7% in 2019, before a small 0.4% drop is forecast for 2020."
</body></html>

The housing market correction has passed: Moody's Analytics

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

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