<html><body>
Launceston is continuing to record positive price movement, albeit at a more subdued rate than 2018, according to a recent Herron Todd White (HTW) residential report. 
"We would suggest it is unlikely double-digit growth will be recorded this year, however it may not be far under," the valuation firm said. 
A townhouse situated in the heart of Launceston City recently sold for $700,000 (pictured above).
As an exceptional example of early Launceston architecture, the circa 1840s townhouse at <a href="https://www.realestate.com.au/sold/property-townhouse-tas-launceston-130604134" target="_blank">110 Cameron Street </a>comes with two living rooms, four bedrooms upstairs and north facing paved courtyard.
It was last sold at $455,000 in 2005.
"Interestingly, the activities of a Queensland based buying advocate firm acquiring residential property on behalf of SMSFs have resulted in a number of rentals being available," the report said.
"The vacancy rate has lifted a few points as a result and we are seeing a stabilisation of rental growth." 
<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/2019/7/10/launceston%202.jpg" alt="">
A fully furnished and fully renovated two bedroom unit in Launceston is currently on the rental market with a price of $450 per week (pictured above). 
The unit at<a href="https://www.realestate.com.au/property-unit-tas-launceston-426784470" target="_blank"> 4/43-47 Elizabeth Street </a>comes with large open plan living, two bedrooms, modern kitchen and secure parking space. 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Launceston sees positive price movement: HTW residential 

<html><body>
Prices have declined for both the inner and outer north of Melbourne, according to the latest Herron Todd White (HTW) residential report. 
"In our February edition of the Month in Review, we stated that inner northern suburbs would be the hardest hit with declining property prices whereas the outer north would plateau," the valuation firm said. 
Economists agreed, stating that property prices for the north- east and north-west were set to decline (as shown below).
<a href="https://www.propertyobserver.com.au/images/2019/6/27/s%20wright%202019.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/6/27/s%20wright%202019.jpg" alt="">
The report notes that the outer northern suburbs of Craigieburn, Mickleham and Kalkallo reached their peak property prices in early to mid-2018 and have slowly been declining ever since.
Craigieburn’s urban sprawl previously known as providing a good return on investment for off the plan purchase of land is now being reversed.
A 448 square metre block of land back in early 2018 would be sold for $400,000 however now in mid- 2019 the same product would sell for $340,000 to $350,000.
"Purchasing this land off the plan in 2016 and selling in 2018 would provide a solid $70,000 to $100,000 capital gain, whereas purchasing more recently in late 2017 to early 2018, the land would be lucky to break even and is expected to sell at a loss," the report said. 
"The oversupply of land releases alongside the lack of land purchases due to tightened lending criteria has been the main charge behind the drop in land value."
Melbourne’s inner northern suburbs, for example Carlton, Collingwood, Brunswick and Northcote, have also been hit hard by declining property prices.
An example was a three bedroom house located in the heart of Brunswick which has recently been sold for $920,000.
Situated<a href="https://www.realestate.com.au/sold/property-house-vic-brunswick-129727078" target="_blank"> 5 Hanover Street</a> (pictured below), it comprises three bedrooms, kitchen, separate lounge area, and large pergola area. 
It was sold at $985,000 in 2016. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/27/brunswick%20.jpg" alt="">
Median prices have fallen $30,000 to $50,000 for these suburbs since the start of 2019 and are projected to decline further according to REIV. 
Properties holding their prices are A grade, sizeable family oriented homes that have a prime position, superior floor plans and are in prime or renovated condition.
Secondary properties that do not have these qualities are struggling to sell and are seeing extended time on the market compared to 2018.
"There is an evident stock decrease for these suburbs which is contributing to the price decline," the valuation firm said. 
In the week of 23 March 2019, there were 674 auctions listed compared to 1,783 for the same week in 2018, according to Digital Finance Analytics data.
With stock levels being low and bank lending criteria tightened, home owners are choosing to stay in their current dwellings and choosing to renovate rather than risk attempting to upgrade to a superior property for which they may not get their finance approved by the bank.
According to the HTW report, Pascoe Vale has had the most surprising turn since the start of 2019.
"For a market that has been developer driven for the past two years, it now has completely reversed," it said. 
"Multiple permits granted for three-to-six townhouse developments are unable to proceed as developers struggle for finance."
A prime example is<a href="https://www.realestate.com.au/property-house-vic-pascoe+vale-129695610" target="_blank"> 40 Austin Crescent, Pascoe Vale</a> (pictured below). 
Comprising a four-townhouse development with approved permits, it has been on the market for 203 days with little interest due to the inherent risk of finance availability.
<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/2019/6/26/pascoe%20vale.jpg" alt="">
"Pascoe Vale has been development shy this year and if lenders do not reduce their strict criteria, townhouse developments in Pascoe Vale may be very limited going forward."
</body></html>

Northern Melbourne property prices remain in decline: HTW residential 

<html><body>
There is a declining residential market in Illawarra, according to the latest Herron Todd (HTW) residential report. 
The report notes that residential sales activity in Illawarra is below where it was during the peaking 2013 to 2017 years, but has not ground to a complete halt.
Transactions are still happening, especially where vendor pricing is realistic in the current market.
"Selling periods of three to six weeks are still common when the property is priced correctly, but there are many cases of long listings or multiple agents being used when vendor’s hold onto a belief their property can still command a peak price," the valuation firm said. 
Corelogic has reported that over the three months to April 2019, 75.6% of properties across the country sold for less than their original list price and this phenomenon of discounting is clearly evident in the Illawarra.
A property at <a href="https://www.realestate.com.au/sold/property-house-nsw-thirroul-130350018" target="_blank">73 Armagh Parade, Thirroul </a>(pictured below) has recently sold for $755,000 after initially being listed for $880,000 to $930,000.
It comprises three bedrooms, lounge, combined dining and kitchen, balcony and large double garage. 
<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/2019/6/25/thirroul.jpg" alt="">
Another property at <a href="https://www.realestate.com.au/sold/property-house-nsw-flinders-130196578" target="_blank">40 Brunderee Road, Flinders</a> (pictured below) was sold for $679,000 after initially being listed for $829,000.
Set on a 472 square metre block, the single level home comes with four bedrooms, open plan living and dining space, alfresco area, central kitchen and double garage. 
<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/2019/6/25/flinders%20.jpg" alt="">
"A big surprise for 2019 is that rents have remained relatively stable," the valuation firm said.
"With recent huge supply of new housing in growth corridors and units in the Wollongong CBD it was expected that rental demand and subsequently prices could drop.
"This doesn’t appear to be the case with property managers reporting decent demand for stock and overall rent prices holding."
A two bedroom unit located near the heart of Wollongong has been listed for lease with a price of $460 per week. 
Situated within a full security building, the unit at 54/313 Crown Street (pictured below) comes with two bedrooms, combined lounge and living room, large balcony and modern kitchen. 
<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/2019/6/25/gong.jpg" alt="">
According to the report, while this is not great news for tenants hoping for some rent relief, it is encouraging to investors.
A decline in selling prices means investors are able to get higher returns than were available at the peak period.
Gross yields as low as 4.25% were being experienced for investment properties at the back end of 2017.
A block of five two-bedroom units in West Wollongong sold for $1.1 million recently which shows a gross passing return to the investor of 6.15% with scope for increases in the future.
"With interest rates still low and rents stable these returns are slowly drawing some investors back to the market," the valuation firm said. 
<img src="blob:https://www.urban.com.au/0e441a37-cc7f-47f5-adbc-484381ca0c4a" alt="page10image5823328" width="0.500000" height="0.500000"><img src="blob:https://www.urban.com.au/a320459c-665d-4f51-8b0f-16a51205e720" alt="page10image12082752" width="0.500000" height="0.500000">
</body></html>

Illawarra rentals remain stable as sales activity slows: HTW residential 

<html><body>
The NSW Central Coast's transition to a slower market has gone well, according to the latest Herron Todd White (HTW) residential report. 
The report suggests that as with any region with a diverse property range, some suburbs have felt the pressure of price adjustment more than others.
The data coming through is suggesting that the suburbs at the southern end of the region have seen price falls more than others.
This includes the suburbs of Umina Beach and Woy Woy where values seem to have fallen by around 10 to 15%.
This however, is on the back end of higher than average value increases compared to most other parts of the region.
A current listing in Umina Beach is a three bedroom townhouse priced at $775,000.
The townhouse at<a href="https://www.realestate.com.au/property-townhouse-nsw-umina+beach-131203026" target="_blank"> 4/188 West Street</a> (pictured below) features three bedrooms, lounge and dining area, home office area, galley-style kitchen and low maintenance landscaped gardens. 
It's within walking distance to Woolworths Shopping Centre, ALDI Supermarket, Coles Supermarket, and the McDonalds.
<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/2019/6/25/umina%20beach.jpg" alt="">
"As we near the half way point of 2019, units within the Gosford CBD are also the subject of conversation" the valuation firm said. 
"We are hearing (and seeing) a loss in confidence in this market and as settlements on new developments are being called, the evidence suggests a close eye and extra caution needs to be observed by buyers before committing.
"We are stopping short (just) of saying we are in an oversupply situation right now as we believe that the plans for the expansion of both the public and private hospitals in Gosford will ease this situation,"
A three bedroom apartment positioned on the fringe of the Gosford CBD has recently been sold at a reduced priced of $425,000.
Set in a secure complex, the apartment at<a href="https://www.realestate.com.au/sold/property-apartment-nsw-gosford-130415598" target="_blank"> 354/80 John Whiteway Drive</a> (pictured below) comprises three bedrooms, open plan living area, well-appointed kitchen and two car spaces. 
It is close to train station, shopping centres, schools and Gosford waterfront.
<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/2019/6/25/gosford%20.jpg" alt="">
Towards the northern end of the region, the market has definitely slowed with some price corrections noted in newer and older suburbs.
According to the HTW report, this hasn’t been much of a drop in values overall, but the evidence suggests that it is happening.
The northern end of the region is generally more price dependent with a higher reliance on continuity of employment and stablisation of home owners.
Vendor expectations have been a little slower to adapt to the changing market with real estate agents indicating that more time is being spent on the current values.
"This is then affecting those buyers out there and the meeting of minds," the valuation firm said.
"Buyers and their ability to deal are further impacted by changes in lending policies which in a nutshell is making borrowing harder.
"But that said, the property market appears to have swung in favour of buyers with more choices available.
"We are certainly in for an interesting second half of 2019 and if the signs are being read correctly, then we should expect the market to slow further.
"These signs include a higher level of valuation assessments being queried by lenders and mortgage brokers, slightly higher levels of owners opting for renovations and extensions rather than selling and real estate agents having to work harder to get their deals across the line.
"The property market work cycle is in the correction phase after solid increases in property prices throughout the past few years.
"The higher end of the market range seems to be tracking reasonably well at this stage and we are seeing little change to volumes of transactions and values seem to be less affected." 
</body></html>

Southern Central Coast suburbs prices falling: HTW residential 

<html><body>
There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling.
We take a look at where and if possible why this is happening.
We came across this property for consideration.
A waterfront Rosslyn, Queensland villa has been listed for $1.15 million.
This marks a $250,000 reduction on its previous sale price of $1.4 million.
Jared Hooper of Brian Hooper Real Estate is currently marketing the listing.
Situated at <a href="https://www.realestate.com.au/property-house-qld-rosslyn-104726747" target="_blank">5 Bayside Way</a>, the three bedroom two, bathroom house with its own berth sits on the waters edge.
Set on 273 sqm, the villa is north east facing with harbour and ocean views.
Located 8 kilometres south of Yeppoon, the largest seaside town on the Queensland coastline, the open plan design incorporates cathedral ceilings, tiled flooring (downstairs) and full length glass walls opening on to the deck areas.
Last sold in 2005, the property transacted for $1.4 million.
The home was briefly listed in 2017 and 2018 seeking $1.25 million.
<img src="https://www.urban.com.au/images/2019/7/22/Rosslyn%202.png" alt="">
<div class="image-wrapper">Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.</div>
<div class="image-wrapper">
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="/expert-insights/buying/bargain-property-at-mount-eliza-home-at-2-million-discount">Mount Eliza</a>, <a href="/expert-insights/buying/bargain-property-in-central-geelong-sale-price-dips-after-one-year">Central Geelong</a>, <a href="/expert-insights/buying/bargain-property-in-east-perth-near-new-apartment-makes-150-000-loss">East Perth</a> and <a href="/expert-insights/buying/bargain-property-in-sydney-olympic-park-apartment-listed-at-180-000-value-discount">Sydney Olympic Park</a>.
</div>
</body></html>

Bargain property in Rosslyn? Waterfront Rosslyn villa listed at $250,000 reduction

<html><body>
There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
A pair of Bowen, Queensland duplex's has seen its listing slashed $180,000.
Currently listed for $340,000, the property first arrived on market in March 2008 seeking $520,000.
Bonnie Kohlhase of LJ Hooker is currently marketing the latest relisting
Situated at <a href="https://www.realestate.com.au/property-house-qld-bowen-104745682" target="_blank">17 Casuarina Street</a>, the property was listed as a rental in 2015, midway through the campaign, for $220/pw. 
Set on 709 sqm, the duplex's are both comprised of two bedrooms and two bathrooms.
One was recently refloored, while both recently got a new roof and a fresh coat of paint, according to the listing
It is located a couple blocks from the beach.
The asking price was last reduced in May 2018.
Last sold in 1981, the property transacted for $53,000.
<img src="https://www.urban.com.au/images/2019/7/22/Bowen%202.png" alt="">
<div class="image-wrapper">Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.</div>
<div class="image-wrapper">
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="/expert-insights/buying/bargain-property-at-mount-eliza-home-at-2-million-discount">Mount Eliza</a>, <a href="/expert-insights/buying/bargain-property-in-central-geelong-sale-price-dips-after-one-year">Central Geelong</a>, <a href="/expert-insights/buying/bargain-property-in-east-perth-near-new-apartment-makes-150-000-loss">East Perth</a> and <a href="/expert-insights/buying/bargain-property-in-sydney-olympic-park-apartment-listed-at-180-000-value-discount">Sydney Olympic Park</a>.
</div>
</body></html>

Bargain property in Bowen? Listing of duplex pair slashed by a third

<html><body>
A North Ward, mortgagee home looks set to sell for a second consecutive loss following its 2016 sale.
In 2016 the apartment sold for $200,000, a $67,000 reduction on its 2007 sale price.
Lisa Morio and Sally Elliott of Smith&amp;Elliot are marketing the listing.
Situated at <a href="https://www.realestate.com.au/property-unit-qld-north+ward-131308726" target="_blank">4/23 Gregory Street</a>, the property is currently listed for $175,000, a further fall from it's 2007 sale price of $267,000.
Set on 86 sqm, the property was unable to transact during an auction in late June.
The two bedroom, one bathroom unit is situated minutes from the city.
The property was listed as a rental as recently as 2014, seeking $300/pw a reduction on the $325/pw it sought in 2013.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median sale price for a home in <a href="/developments/north-ward-qld-4810">North Ward, Queensland</a> is $525,000, according to CoreLogic, which calculate its annual change in median price over the past 10 years as -2.3%.
</body></html>

North Ward, Queensland mortgagee home listed for consecutive loss

<html><body>
A Ridgewood, WA mortgagee home has been sold for $305,000.
First listed in 2017, the property came to market with a price guide of $389,000.
Josh Douglas of Professionals marketed the listing.
Situated at <a href="https://www.realestate.com.au/sold/property-house-wa-ridgewood-131359850" target="_blank">2 Roundwood Circuit, </a>the house was built in 2013 and listed as a rental as recently as March of this year. 
Set on 412 sqm, the four bedroom, two bathroom abode features a theatre, oversized garage, and a well-appointed kitchen.
Following the unsuccessful campaign in 2017, the property was relisted for more than 300 days in 2018. This latest campaign only lasted 35 days before finding a buyer with a price guide of $305,000.
In June and September of 2017 as well as March 2019, the property was listed as a rental seeking $320/pw.
A reduction on what it sought as a rental in 2016 when it was listed for $380/pw.
Last sold in 2011, the previous home residing on the plot sold for $184,000. 
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median sale price for a home in <a href="/developments/ridgewood-wa-6030">Ridgewood</a> is $395,000, according to CoreLogic, which calculate its annual change in median price over the past 10 years as -0.1%.
</body></html>

Ridgewood, WA mortgagee listing slashed $85,000 and sold

<html><body>
There are certainly opportunities in the current 2019 market to pay less than the last price.
But is there really such a thing as buying a bargain when it comes to property? And where are they?
This series of articles looks are specific examples of sale price or asking price falling. 
We take a look at where and if possible why this is happening.  
We came across this property for consideration.
A South West Rocks, NSW home has just broken a decade on market and entered its eleventh year.
Currently listed for $690,000, the property was originally listed in April 2009 for $850,000, relecting a $160,000 reduction.
Ken Tassell of LJ Hooker is currently marketing the listing.
Situated at <a href="https://www.realestate.com.au/property-house-nsw-south+west+rocks-106533869" target="_blank">58 Ocean Street</a>, the property is a four bedroom, three bathroom house.
The two storey double brick abode is situated on a 730 sqm block.
It holds sweeping views over Trial Bay, South West Rocks, Smoky Cape and the ocean.
Featuring a second separate living area which has its own entrance and offers a fully equipped kitchen, dining area, lounge/rumpus room, bathroom and two bedrooms, the listing says, "this gives the flexibility of independence for visitors or family"
Last sold in 2003 the property transacted then for $720,000, more than double what it traded in 2000 for $325,000.
<img src="https://www.urban.com.au/images/2019/7/22/Rocks%20Bargain%202.png" alt="">
<div class="image-wrapper">Property Observer advise that it is up to you to determine if the offering is a truly beneficial bargain.</div>
<div class="image-wrapper">
Remember buying at the bottom of the cycle is fraught – as you can't really precisely pick the bottom nor know just how long until you see some price growth.
Be aware you could be buying a poor quality property in an area with ongoing issues of oversupply of stock.
The oversupply could be also putting downward pressure on rents.
Other price declines could be because the vendor needs a quick sale or paid way over the top on its last purchase chase.
Property Observer suggests property purchasing really does need to be a very well considered proposition with a long term mindset.
As a part of this series, we've already had a look at properties in <a href="/expert-insights/buying/bargain-property-at-mount-eliza-home-at-2-million-discount">Mount Eliza</a>, <a href="/expert-insights/buying/bargain-property-in-central-geelong-sale-price-dips-after-one-year">Central Geelong</a>, <a href="/expert-insights/buying/bargain-property-in-east-perth-near-new-apartment-makes-150-000-loss">East Perth</a> and <a href="/expert-insights/buying/bargain-property-in-sydney-olympic-park-apartment-listed-at-180-000-value-discount">Sydney Olympic Park</a>.
</div>
</body></html>

Bargain property in South West Rocks? House breaks a decade on market

<html><body>
Cricketer Shane Warne is selling a Brighton home he only bought last March, The Herald Sun has reported.
It is speculated Warne is seeking about $8 million.
The Newbay Crescent contemporary double-storey home with a home theatre, pool and spa, was bought from private investigator Anthony Thompson for $5.4 million before its modernisation.
It was previously owned by the Essendon champion Matthew Lloyd, for nine years until 2015.
Warne is a frequent player on Brighton's property scene, and he's made a handsome profit playing the game.
He's owned the trophy home Melville twice.
He first bought it for $3.6 million in 2000, spending around the same amount on renovations and selling for $8.8 million in 2007.
He then <a href="/news/shane-warne-boomeranging-back-to-former-brighton-home-melville">bought the property back in 2016</a>, paying $14.2 million, only to <a href="/news/shane-warnes-6-million-brighton-flip-windfall">sell it 20 months later</a>, with no extras, for $18,888,888.
That was the biggest play in Warne's long history of flipping in Brighton
Fairfax Media prepped a timeline of his flipping on his purchase last year.
1996: The beachfront home at 102 Esplanade is bought by Warne for $902,000.
2000: After renovations, 102 Esplanade fetches $2.61 million.
2000: Warne and Simone Callahan pay $3.6 million for a circa-1880 Victorian residence at 32 Middle Crescent, and reportedly spend a similar sum in renovations. 
2007: The couple sell the Middle Crescent mansion for $8.8 million.
2007: For $3.7 million, Warne scoops up the five-bedroom house at 16 Park Street.
2009: The Park Street property sells for $6,775,000.
2009: Warne forks out $7.55 million on heritage-listed residence at 6 William Street, which he goes on to share with Elizabeth Hurley after he splits with Callahan.
2013:The William Street mansion sells for $10.85 million.
2014: Warne spends $3.95 million on mini-manor at 11 Kinane Street.
2016: In a move that made headlines, Warne buys back 32 Middle Crescent for $14.25 million.
2016: 11 Kinane Street sells for $5.35 million.
2018: Warne offloads 32 Middle Crescent for about $20 million.
2018: Warne buys a nearby property for about $5.5 million.
 
 
 
</body></html>

Speculation that Shane Warne seeks to flip his Brighton home

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Joel Robinson

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Staff reporter

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News