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<p>A five bedroom three bathroom Tallai home on Queenland's Gold Coast has been sold by its mortgagee.</p>
<p>Situated at <a href="https://www.realestate.com.au/property-house-qld-tallai-129726626" target="_blank">10 Tolhurst Court, Tallai</a> the home fetched $530,000 in the week prior to Christmas, after being passed in at LJH November mortgagee auction.</p>
<p>It last sold in 2008 for $680,000.</p>
<p>It sold at $310,000 in 2001.</p>
<p>Set on 0.58 ha the listing noted that the existing residence requires a substantial amount of work to be restored.</p>
<p>Located minutes from the major local amenities, the property is a short drive from the M1.</p>
<p>Featuring an in ground swimming pool the property also contains a garden shed for tool storage.</p>
<p>The median price for a home in <a href="/developments/tallai-qld-4213">Tallai</a> is $863,750, according to CoreLogic data, with a 2.3 percent annual change in median price over the past decade.</p>
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Tallai, Gold Coast house sold by mortgagee at $150,000 loss

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<p><span>Values throughout the Ballina Shire stabilised throughout 2018 after strong increases </span>throughout the 2016 and 2017 calendar years, according to the latest Herron Todd White residential report. </p>
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<p><span>The report noted agents who actively market property throughout the Ballina Shire generally report lower numbers of enquiry. </span></p>
<p><span>Some Ballina regions experienced declines in value on the back of weaker Sydney and Melbourne markets, although the lack of available stock generally prevented any notable falls in value throughout the sought-after areas of the shire, HTW noted.</span></p>
<p>A lack of stock did drive the market and buyers were seen moving out of the suburb of Byron Bay into the more affordable coastal resort town of Lennox Head which saw the market in Lennox Head climb in 2018.</p>
<p><span>"The overall market started slightly sluggishly in January and February, however lack of stock saw the market continue to surge throughout 2018. Early </span>stages of flattening were evident throughout the October to November period," the valuation firm said.</p>
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<p><span>The buy in price point of $750,000 to $1.2 million did well throughout the year of 2018. Larger allotments located in Ocean Shores with future subdivision potential did particularly well with a spike in sales. In Lennox Head, sales also spiked with buyers wising up and moving away from </span>the iconic town of Byron Bay towards a smaller township where their money could be spread further.</p>
<p>"At the beginning of 2018, it was predicted that the oversupply of vacant land in Lennox Head may be of some concern. </p>
<p>"We have yet to see any signs of an oversupply of vacant land, with value levels within new residential estates remaining firm, however it would appear that the developer’s conscientious release of land without flooding the market could be partly responsible to this," the report noted.</p>
<p>The prediction for the Byron Shire market that was made all the way back in February was mostly correct.</p>
<p>A recent sale in Ocean Shores is a four bedroom which has been sold for $950,000. </p>
<p>Sitting elevated on a 923sqm block, the house at <a href="https://www.realestate.com.au/sold/property-house-nsw-ocean+shores-128709658" target="_blank">18 Goondooloo Drive</a> (pictured above) comes with multiple living zones,four bedrooms, eat-in kitchen,  and double garage.</p>
<p>It's within walking distance to the Ocean Shores cafes and shops or a short hop to New Brighton, Brunswick Heads and Byron Bay.</p>
<p><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/2018/12/21/lennox%20head.jpg" alt=""></p>
<p>A two bedroom Lennox Head townhouse has been recently sold for $1.17 million.</p>
<p>Situated at <a href="https://www.realestate.com.au/sold/property-townhouse-nsw-lennox+head-128818454" target="_blank">1/43 Stewart Street</a> (pictured above), the beach house feautres two bedroom, sunroom, study, modern kitchen with stone benches, salt water plunge pool and high ceilings.</p>
<p>It's<span> located within easy walking distance to Lake Ainsworth.</span></p>
<p><span>The report mentioned a large portion of the buyer demographic in this locality were people coming from Melbourne or Sydney. </span></p>
<p><span>"The market was majorly influenced by investors and baby boomers looking for a sea change. More recently though we have seen buyers in the 30 to 50-year-old bracket with young families sustaining city job opportunities whilst living away from metropolitan areas." </span></p>
<p>There continues to be renovation, renewal and gentrification activity occurring within established residential areas of Ballina and in particular the Ballina Island and East Ballina precincts, according to an earlier Herron Todd White (HTW) residential report. </p>
<p>The report suggested this is due to requirements from both owner-occupiers and also from potential buyers, and there remains good demand for quality renovated product.</p>
<p>However, the majority of new development within the Ballina Shire is occurring in housing estates such as Epiq at Lennox Head, Ferngrove and Riveroaks at Ballina, Ballina Heights at Cumbalum and the new estates located to the north-west fringe of Wollongbar.</p>
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<p>"It is interesting to note that over the past five years, we have seen a significant increase in construction of self-contained flats and second dwellings of house lots, both in established residential areas and also in new housing estates." the HTW report noted.</p>
<p>The increased construction of self-contained flats and second dwellings can be attributed to the strong rental demand across the Ballina Shire coupled with the fact that there remains limited one and two-bedroom residential units being constructed within established suburbs. </p>
<p>Subsequently properties which possess rear lane access and allow approval and construction of second dwellings in established residential localities have become more sought after, the report said. </p>
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<p>"In the Byron Shire, home renovation and new construction in established areas are on the rise. We see the renovation aspect of this market evident in all suburbs within this locality. An example is Suffolk Park, where homes built in the 1960s and 1970s are being extended and externally remodelled to a more contemporary design," the valuation firm noted.</p>
<p>A Suffolk Park renovated beachfront home was on the market with the price guide of $1.1 million to $1.2 million. It sold in December at $1.1 million.</p>
<p>Set on a 922sqm, the<a href="https://www.realestate.com.au/property-house-nsw-suffolk+park-129206958" target="_blank"> 17/2 Alcorn Street </a>house comes with two bedrooms, open plan kitchen/dining/living, and study.</p>
<p>It has been recently renovated with the new kitchen and bathrooms. </p>
<p>This is also evident in the township of Mullumbimby, where 1930 to 1940 built homes are being updated to compete with new builds occurring in the fringe Tuckeroo Estate.</p>
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<p>The majority of buyer types in this market within the Byron Shire are more of the owner-occupier variety rather than house flippers or spec builders. The suburb where they would achieve the most profit is isolated to that of Byron Bay. Buyers have been capitalising on the increased margin of the price point buy in for this particular coastal resort town.</p>
<p>There has also been an increase in the number of sales as well as price point within the prestige residential market for centrally located properties in close proximity to the Byron Bay CBD, beach and facilities. The increased sales activity in the $2 to $4 million price bracket for standard residential property has been occurring since 2014.</p>
<p>There is generally strong demand for Federation style dwellings which have been renovated to a very good standard and offer the owner a high quality of fitout that is also appealing to the holiday market.</p>
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<p>Evidence of first home buyers wanting to make quick equity can be seen in suburbs such as Ocean Shores within the price-points of $750,000 to $850,000. Other strategies for first home owners have been trending in the purchase of land, where dual occupancy is created, divided and sold.</p>
<p><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/2018/10/8/ocean%20shores%20.jpg" alt=""></p>
<p>An example is a Ocean SHores three bedroom house which has been listed for $770,000 (pictured above). </p>
<p>Nestled on a 921sqm block, the house at <a href="https://www.realestate.com.au/property-house-nsw-ocean+shores-127957602" target="_blank">7 Rajah Road</a> include three bedrooms, renovated family bathroom, three spacious living areas and covered outdoor areas.</p>
<p>It's within walking distance to cafes, restaurants and Brunswick Heads.</p>
<p>Upgraders who want to stay put but need more space for a growing family are taking advantage of creating detached granny flats. This extra space caters for older kids who may still be at home saving for a deposit of their own, or for an ageing relative.</p>
<p>The buy-in price points for homes with upgrade potential in the below mentioned suburbs are as follows:</p>
<p>• OceanShores- $750,000 to $850,000</p>
<p>• ByronBay- $1million to $1.5million</p>
<p>• LennoxHead- $800,000 to $950,000</p>
<p>The suburban infrastructure that helps drive construction within these established areas include the proximity to local airports (both the Ballina/ Byron Bay Gateway Airport and the Gold Coast Airport). This has seen an increase in interstate buyers taking advantage of the versatility of living locally and in either Sydney or Melbourne to cater for their fly-in, fly-out occupations.</p>
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<p>Home renovation and new construction in established areas do have some guidelines and limitations. The biggest limitation we see home buyers face in the Byron Shire is the restriction on secondary dwelling sizes. Where there are dual occupancies on one title in one line, the secondary dwelling must not exceed a total floor area of 60 square metres.</p>
<p>There are changes in the town planning process that are encouraging new construction. The biggest change is seen in the reduced minimum lot sizes. Vacant land was once sold with an average land area of 700 to 800 square metres, however with each new estate that has been developed, we have seen a reduction to 450 to 500 square metre blocks being sold.</p>
<p>The market of home renovation and new construction within the Byron Shire may track a little differently in the future. The cost of building is rising at such a rate that it may have an effect on those speculating to be a part of this market.</p>
<p>"Even now we are seeing vacant land blocks within new estates being resold at a much higher price-point, which may affect the home buyer’s decision about what they can afford to build," the report said.</p>
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Ballina Shire residential market remained steady through 2018: HTW residential 

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<p>There are three leading economists who think that the Reserve Bank will be cutting interest rates this year; AMP Capital's Shane Oliver, Industry Super's Stephen Anthony, and Market Economics' Stephen Koukoulas.</p>
<p>"The Reserve Bank is conflicted. It knows the economy is slowing and that risks are building in asset markets, especially east coast property," Mr Anthony told Nine Entertainment.</p>
<p>"But should that be the official forecast? It also knows that if it can 'manage' sentiment it may also contribute to a softening of activity rather than a bust, especially via property prices and dwelling investment."</p>
<p>It was more likely we had entered "a secular bear market phase" with respect to asset prices, Mr Anthony suggested.</p>
<p>"With the background being declining residential house prices, especially in Sydney and Melbourne, the wealth effects will be significant, likely reducing household consumption growth to at or below 2 per cent in 2019."</p>
<p><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/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></a></p>
<p>Dr Oliver believes the Reserve Bank's bias is "still slightly hawkish" in that "it has not turned dovish yet but it is getting less hawkish and bit more open to the view that the next move in rates may not be up".</p>
<p>Nine Entertainment did a poll of 38 economists on the direction of the next interest rate move and 35 advised the Reserve Bank will likely put them up in 2020.</p>
<p>The consensus was<span> that the RBA would raise the official cash rate to 1.75 percent by June 2020.</span></p>
<p>Eighteen months ago most of them were forecasting a rate rise in 2018. Six months later, predictions moved to 2019. Now the general consensus is rates won't go up until 2020 - with some even calling out to 2021.</p>
<p>AMP chief economist Shane Oliver arrived at his view <a href="/expert-insights/finance/rba-to-cut-rates-second-half-of-next-year-shane-oliver">a few weeks back</a> after the September quarter Australian GDP figures (which came in December) showed the rate of growth had slowed to an annualised 2.8 per cent.</p>
<p>Oliver reasons that the RBA won't move to lower the rate in any attempt to head off further falls in the property market but to help households that carry a mortgage.</p>
<p>But the reversal in house values over the past year has promoted a negative wealth effect which is more likely to result in consumers spending less.</p>
<p>To have much impact the RBA would need to cut twice so <span>Oliver said the official cash rate might go down to 1 percent given the slump in the major housing markets of Sydney and Melbourne</span>. </p>
<p>The Reserve Bank made a policy error in pursuing stability in interest rates in the belief this would encourage confidence, Mr Koukoulas argued.</p>
<p>"The very slight change in tone in recent times is a belated realisation of this error and if, as seems likely, inflation remains outside its target range and its rosy forecasts for growth and unemployment fall flat, it will, pragmatically, change tack."</p>
<p>The wealth effect and its relationship with consumption growth also had been played down, he said, "at its peril".</p>
<p><span>The RBA will announce its initial 2019 monetary policy decision when the board convenes next month.</span></p>
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Why the RBA will cut interest rates in 2019

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<p>Short term weakness in 2019 house prices seems assured as the tight credit conditions and restrictive monetary policy settings constrain demand, according to economist Stephen Koukoulas.</p>
<p>"Nationwide prices may drop 5 per cent by the September quarter, with sharper falls likely in Sydney and Melbourne," he forecasts.</p>
<p>"Late 2019 will be the likely trough in house prices as easier monetary policy unfolds, there is a step up from previously frozen out first home buyers and the strength in demographic demand as fresh supply falters in line with the slippage in building approvals are all likely to put a floor under prices.</p>
<p>His call envisages a 5 per cent drop over first half of 2019 and then a 2 per cent rise in the second half.</p>
<p>"2020 might see a 3 per cent house price lift," he speculates.</p>
<p><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/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></p>
<p>He recently wrote on <a href="https://au.finance.yahoo.com/news/dont-look-now-almost-certainly-poorer-year-ago-211934583" target="_blank">Yahoo Finance</a> that if you are a home owner in Sydney, Melbourne, Perth or Darwin and if you have a superannuation nest egg, the odds are you are less wealthy today than you were a year or two ago.</p>
<p data-reactid="25">He noted the Australian stock market, where the bulk of superannuation assets are likely to be invested, had slumped 11 per cent since August, reducing the value of stocks by around $200 billion. </p>
<p data-reactid="27">"At the same time, home owners in Sydney, Melbourne, Perth and Darwin are seeing the value of their homes getting crunched.</p>
<p data-reactid="28">"Here are some examples. </p>
<p data-reactid="29">"A house in Sydney that was $1 million in July 2017 is now worth around $890,000, a loss of $110,000 in 18 months.</p>
<p data-reactid="30">"In Melbourne, a house that was $800,000 in early 2018 has lost around $50,000 in value, to now be worth around $750,000.</p>
<p data-reactid="31">"In Perth, the situation is more parlous. Prices have dropped 15 per cent since late 2014, meaning that a property that was $600,000 in 2014-15 has lost close to $100,000 in value to be worth just over $500,000.</p>
<p data-reactid="32">"Ouch!"</p>
<p data-reactid="38">He suggests as the loss of wealth filters through to more and more householders, or perhaps when they see the house around the corner not sell for months and when if finally does, the price is a shock, consumers will likely scale back their spending, rebuild savings and be generally cautious in their approach to spending in 2019.</p>
<p data-reactid="39">"This will undermine growth in the economy."</p>
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Stephen Koukoulas forecasts national house prices to begin small rise in late 2019

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<p>Perth values dropped 4.7 percent over the year, led by its decline in the unit market.</p>
<p>Unit values declined a further one percent in December, bringing their total decline over 2018 to 6.5 percent.</p>
<p>House values, which also saw a one percent drop over the month, dropped 4.3 percent, bringing the median house price values to $431,000.</p>
<p>Perth's median unit value sits at $370,000.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/dwell1.jpg" target="_blank">to enlarge</a>.</p>
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<p><span>Tim Lawless, the heat of research at CoreLogic, noted the reprisal in </span><span>Perth’s </span><span>rate of decline was a key factor in the 2018 property landscape.</span></p>
<p>"Perth values are back to levels last seen in March 2009," he noted.</p>
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<p><span>"Although Sydney and Melbourne recorded the weakest conditions, the peak to current declines are much less severe relative to Perth and Darwin where values have been falling since mid-2014.</span></p>
<p><span>"The downturn has been running much longer in Perth and Darwin, resulting in cumulative falls of 15.6 percent and 24.5 percent respectively."</span></p>
<p><span>Lawless noted Perth was among the capitals with t</span>he largest yield improvements</p>
<p>Rents in Perth have been consistently lifting from their low base through the year, up 2 percent over the year while dwelling values were down 4.7%.</p>
<p>"The net result has been a 2 basis points rise in Perth rental yields," he said.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/Cl-Jan2full.jpg" target="_blank">to enlarge</a>.</p>
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Perth property values fall in 2018 back to 2009 levels: CoreLogic

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<p>Darwin just pipped Canberra to be 2018's strongest mainland capital city with 3.7 percent house price growth, according to CoreLogic.</p>
<p>Canberra houses rose 3.6 percent in the year.</p>
<p>Darwin's house price recovery was not however seen in the apartment market, where it was the weakest capital city market across the country.</p>
<p>Darwin unit prices were down 10.4 percent during 2018 to a $305,000 median, the CoreLogic report showed.</p>
<p>Canberra unit values rose 2 percent to $440,800.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/dwell1.jpg" target="_blank">to enlarge</a>.</p>
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<p><span>Darwin's dwelling values over the calendar year fell by 1.5 percent, while Canberra's dwelling values rose 3.3 percent.</span></p>
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<p><span>According to CoreLogic head of research Tim Lawless, the broad weakening in housing market conditions in 2018 highlights that the slowdown goes well beyond the correction in Sydney and Melbourne.</span></p>
<p>“Although Australia’s two largest cities are the primary drivers for the weaker national reading, most regions around the country have reacted to tighter credit conditions by recording weaker housing market results relative to 2017.</p>
<p><span>“The </span><span>two exceptions were regional Tasmania, where the pace of capital gains was higher relative to 2017 resulting in a nation leading 9.9 percent gain in values over the 2018 calendar year, and Darwin, where the annual rate of decline improved from -8.9 percent in 2017 to -1.5 percent in 2018.</span><span>”</span></p>
<p>A recent sale in Nightcliff was a Verbena Street five bedroom house which has been sold at $800,000 (pictured below).</p>
<p><a href="https://www.realestate.com.au/sold/property-house-nt-nightcliff-128726138" target="_blank">13B Verbena Street </a>features open plan living/dining area, large covered balcony, kitchen with steel oven, four upstairs bedrooms and fifth bedroom downstairs. </p>
<p>Other features include tropical gardens, in-ground pool, double carport and split-system a/c.</p>
<p><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/2018/8/14/nightcliff%20.jpg" alt=""></p>
<p>A Fannie Bay three bedroom townhouse has been recently sold for $850,000 (pictured below).</p>
<p>Situated at 2/3 Philip Street, the townhouse comes with open plan kitchen and living, three bedrooms, and large private courtyard with in ground pool. </p>
<p>It is with walking distance to the Fannie Bay Shopping Village and parks as well as East Point Reserve.</p>
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<p><span>Darwin was one of only two capital cities that saw a reduction in gross rental yields over the year. </span></p>
<p><span>Darwin showed a reduction in rental yields, due to rental rates (-5.8 percent) falling more than dwelling values (-1.5 percent).</span></p>
<p>Hobart dwelling values (+8.7 percent) rose faster than rents (+5.8 percent) which dragged the gross yield lower over the year. </p>
<p>Housing affordability has rapidly deteriorated across Hobart, according to Lawless.</p>
<p>"Outside of Hobart, where dwelling values were 8.7% higher over the year, even the best performing regions returned a relatively mild annual growth rate, Lawless said.</p>
<p>Seven of the top ten sub-regions returned an annual gain of less than 3%.</p>
<p>"Such a soft result amongst the best performing areas highlights that housing market weakness is broad-based and not just confined to Sydney and Melbourne," Lawless added.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/Cl-Jan2full.jpg" target="_blank">to enlarge</a>.</p>
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Darwin pips Canberra to be 2018's strongest mainland capital for house value growth: CoreLogic

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<p>Melbourne's house value decline accelerated to 9.1 percent in late 2018, according to CoreLogic.</p>
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<p>Melbourne’s top quartile housing market led the way with dwelling values down 11.2 percent over the year, while the lower quartile of the market has remained in subtle growth territory over the year (+0.5%).</p>
<p>Melbourne values are down 7.2% since peaking in November 2017. </p>
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<p>At the end of 2018, Melbourne values are back to February 2017 levels, Tim Lawless, the head of research at CoreLogic said.</p>
<p><span>The 7.2 percent Melbourne decline from its peak 13 months ago compares with Sydney's 6.9 percent dip when it was 13 months into its downturn.</span></p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/dwell1.jpg" target="_blank">to enlarge</a>.</p>
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<p>Melbourne's inner east was the nation's worst performing housing market in 2018, according to CoreLogic.</p>
<p>The region saw declines of 13.4 percent.</p>
<p>The worst performing list, dominated by Sydney suburbs, only had one other Melbourne suburb, the inner south, which saw 10.5 percent decline.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/Ryde4.jpg" target="_blank">to enlarge</a>.</p>
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<p>Melbourne's inner east comprising of the likes of Doncaster, Hawthorn, Surrey Hills and Park Orchards.</p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2019/1/2/Cl-Jan2full.jpg" target="_blank">to enlarge</a>.</p>
<p><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/2019/1/2/Cl-Jan2full.jpg" alt=""></p>
<p>This time last year, at the end of 2017 Tim Lawless noted that the 2017 shift to falling national dwelling values was being driven by the capital cities, with the combined capitals tracking half a percent lower over the December quarter, while across the combined regional areas of Australia, values were half a percent higher over the quarter.</p>
<p>Amongst the capitals, the weakest end of 2017 year conditions were concentrated in Sydney and Darwin.</p>
<p><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/2018/1/2/CORE2.jpg" alt=""></p>
<p>At December 31, 2017 Sydney dwelling values remained 70.8 percent higher than their cyclical low point in February 2012.</p>
<p>The best performing capital city over the 2017 calendar year was Hobart, where dwelling values rose by 12.3 percent: almost five times higher than Hobart’s decade average annual rate of capital gain (2.5 percent).</p>
<p> </p>
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Melbourne's inner east the nation's weakest house price market in 2018: CoreLogic

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<p>The Ryde district ranked as Sydney's weakest 2018 housing market, according to CoreLogic.</p>
<p>Ryde values were down by 13.3 percent over the year to December 31.</p>
<p>Sydney's inner south west was the next weakest with values down 10.9 percent.</p>
<p>Melbourne's inner east was the worst performing area of 2018, seeing <a href="/expert-insights/buying/melbournes-inner-east-the-nations-weakest-house-price-market-in-2018-corelogic">declines of 13.4 percent</a>.</p>
<p>There was a late year deterioration in values as Ryde's decline was put at 9.4 percent in August (below).</p>
<p>Recent Ryde sales included a one-bedroom apartment at 4 Devlin Street (above), which sold for $565,000, some $115,000 less than its 2014 off the plan purchase price.</p>
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<span class="il">Ryde</span> district vendors were having to adjust their expectations with losses emerging for some.</div>
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<div>Another off the plan purchase in <span class="il">Ryde</span> went backwards recently. </div>
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<div>The apartment was bought for $713,000. The Belmore Street two bedroom apartment recently sold for $691,000.</div>
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<div>A two bedroom Macquarie Park apartment recently sold for $808,000, just $8,000 more than than two years ago. The sale fell well short of its initial $870,000 guide, and would have meant a loss after costs including stamp duty and estate agent commission.</div>
<div> </div>
<div>A four bedroom house in Marsfield recently went backwards on its 2015 price. The 1975 built home sold for $1,791,000 in three years ago, and has just resold for $1.75 million, a $41,000 loss.</div>
</div>
<p>A unit at 21-31 Porter Street fetched $66,000 less, while a unit at 2D Porter Street sold for $38,000 less than four years ago.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/1/2/Ryde4.jpg" target="_blank">Click here</a> to enlarge:</p>
<p><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/2019/1/2/Ryde4.jpg" alt=""></p>
<p>A three bedroom house in Ryde sold for $1.65 million (pictured below) bucked the trend selling in under three weeks.</p>
<p>Set on a 550sqm block, the house at<a href="https://www.realestate.com.au/sold/property-house-nsw-ryde-129030918" target="_blank"> 1 Cosimo Place</a> offered three large bedrooms, modern Caesarstone kitchen, formal living and second living area.</p>
<p>Other features include LED-lit stairs, alfresco, generous laundry and study nook. </p>
<p>It sits a short stroll to buses and parklands, and delivers immediate access to schools, retails and Macquarie business precinct. </p>
<p> <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/2018/9/4/1%20cosimo%20place.jpg" alt=""></p>
<p>A one bedroom unit in the heart of Ryde sold for $430,000 (pictured below). It first sold at $281,000 in 2012.</p>
<p>The unit situated at<a href="https://www.realestate.com.au/sold/property-apartment-nsw-ryde-128796734" target="_blank"> 1/688 Victoria Rd</a> consists of one bedroom with built-in, spacious lounge/dining area, modern kitchen and private courtyard.</p>
<p>It is situated only a short walk away from Top Ryde Shopping Centre, Putney Shopping Village, Local Transport, Schools and Riverside Parklands.</p>
<p> <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/2018/9/4/688%20victoria%20rd.jpg" alt=""></p>
<p>A Curzon Street two-bedroom unit priced between $580,000 to $630,000 (pictured below) fetched $568,000 in October.</p>
<p>The unit at <a href="https://www.realestate.com.au/property-unit-nsw-ryde-129234978" target="_blank">7/15 Curzon Street</a> comprises of large living area with balcony, newly renovated kitchen, two large bedrooms and lock-up storage room.</p>
<p>It situated within seconds to Top Ryde City Shopping Centre, city buses, restaurants and cafes.</p>
<p><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/2018/9/4/15%20curzon%20st.jpg" alt=""></p>
<p> </p>
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Ryde ranks as Sydney's weakest 2018 housing market: CoreLogic

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<p>The Federal Court of Australia made interim orders restraining Askk Investment Group Pty Ltd (Askk) from dealing with funds in their bank accounts in relation to a suspected land banking scheme. </p>
<p>The December 20 orders see Askk also restrained from selling or otherwise dealing in the property which is the subject of the land banking scheme.</p>
<p>Askk has an interest in land located in Lot 2, 615 Hume Highway Beveridge, Victoria.</p>
<p>Askk is Broadmeadows based.</p>
<p>ASIC suspects that since October 2017, Askk has raised in excess of $10 million dollars from more than 270 investors in relation the land, and since this time, investors have been making ongoing payments in respect of their investment.</p>
<p>The money is in two Westpac accounts.</p>
<p>ASIC is concerned that Askk:</p>
<ul>
<li>may be operating an unregistered managed investment scheme (MIS);</li>
<li>may be carrying on a financial services business in relation to the promotion and operation of an unregistered MIS without holding an Australian Financial Service Licence; and</li>
<li>may have engaged in conduct that is misleading or deceptive during the promotion of the scheme to investors.</li>
</ul>
<p>ASIC’s investigation is ongoing. The freezing orders remain in place until the next hearing date on 8 February 2019.</p>
<p>The orders allows Askk withdrawing up to $50,000 for the purposes of paying the defendant’s legal expenses in relation to this matter.</p>
<p>The land was initially marketed as a large acreage "<span>ready to be owned by astute developers, builders and land bankers including group of investors looking to cash in capital."</span></p>
<p><span>It was described as a "unique land parcel zoned under urban growth with its boundary located in the famous Beveridge north suburbia."</span></p>
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$10 million frozen in suspected Askk Investment Group land banking scheme

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<p>The Top Level acquisition by The Agency, a real estate agency from the West, won't now take place until 2019.</p>
<p>The latest update in the long running saga came Friday when The Agency Group Australia advised shareholders that the settlement date to buy the Bondi Beach-based McGrath Rebels has been extended to 11 January 2019.</p>
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<p>The company will also be extending the closing date of the offer under the prospectus dated 20 November, issue date of securities under the prospectus, settlement of the acquisition of all of the shares on issue in Top Level Real Estate Pty Ltd and closing date of the cleansing offer under the prospectus to be amended to 4 January 2019.</p>
<p>It is two years ago that Top Level was launched with the backing of mortgage broker John Kolena, and Ausnet, a then little-known real estate practice out of Perth since 2006 called The Agency which offer a range of Ausnet financial services.</p>
<p>Top Level has been operating under licence to The Agency Group during the extended delayed period while under offer.</p>
<p>Ausnet came to list on the Australian Securities Exchange via the ASX-listed Namibian Copper Limited, a base metals exploration company previously focusing on Namibia, Africa. </p>
<p>The Agency, formerly Namibian Cooper/Ausnet, is now trading at 1 cent. </p>
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<p>The Agency Group Australia also advised shareholders that the ASX had granted the company a waiver from ASX Listing Rule 14.7 to the extent necessary to permit the company to issue 6,160,000 shares to John Kolenda, up to 10,000,000 shares to John Kolenda, 833,333 shares to Paul Niardone and 333,333 options exercisable at $0.30 on or before that date which is 3 years from the date of issue to Adam Davey as approved by the company’s shareholders at the general meeting held in November 2018.</p>
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McGrath Rebels acquisition by The Agency pushed back into 2019

<p>A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.</p>

<p>The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.</p>

<p>[smartcode_project:default project_id=150454 project_image_fid=364156]</p>

<p>Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.</p>

<p>“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.</p>

<p>That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.</p>

<p>The absence of holiday letting within the building has also resonated strongly with purchasers.</p>

<p>“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”</p>

<p>[smartcode_project:default project_id=150454 project_image_fid=366491]</p>

<p>The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.</p>

<p>“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.</p>

<p>“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”</p>

<p>[smartcode_project:default project_id=150454 project_image_fid=366486]</p>

<p>Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.</p>

<p>Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.</p>

<p>A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.</p>

<p>The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.</p>

<p>&nbsp;</p>

<p>To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.</p>

<p>[smartcode_project_cta:default project_id=150454]</p>


Joel Robinson

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

<p>Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.</p>

<p>The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.</p>

<p>The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.</p>

<p>[smartcode_project:default project_id=139552 project_image_fid=371009]</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.</p>

<p>The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.</p>

<p>Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.</p>

<p>[smartcode_project:default project_id=139552 project_image_fid=371016]</p>

<p>Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.</p>

<p>Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.</p>

<p>[smartcode_project:default project_id=139552 project_image_fid=371017]</p>

<p>Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.</p>

<p>The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.</p>

<p>[smartcode_project:default project_id=139552 project_image_fid=371025]</p>

<p>Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.</p>

<p>The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.</p>

<p><sup>*Conditions apply in relation to the deposit match offer.</sup></p>

<p>[smartcode_project_cta:default project_id=139552]</p>


Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

<p data-end="181" data-start="0">Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.</p>

<p data-end="484" data-start="183">From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.</p>

<p data-end="657" data-start="486">Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.</p>

<p data-end="806" data-start="659">Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.</p>

<p data-end="871" data-start="808">“We know the buyer profile exceptionally well,” Abolakian says.</p>

<p data-end="1097" data-start="873">“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”</p>

<p data-end="1169" data-start="1099">That buyer has historically been overwhelmingly owner-occupier driven.</p>

<p data-end="1434" data-start="1171">Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.</p>

<p data-end="1533" data-start="1436">“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.</p>

<p data-end="1665" data-start="1535">“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”</p>

<p data-end="1721" data-start="1667">That philosophy extends well beyond apartment layouts.</p>

<p data-end="1966" data-start="1723">From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.</p>

<p data-end="2051" data-start="1968">“There was probably a period where having an approved project in market was enough,” he says.</p>

<p data-end="2154" data-start="2053">“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”</p>

<p data-end="2386" data-start="2156">“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”</p>

<p data-end="2386" data-start="2156">[smartcode_project:default project_id=110379 project_image_fid=311393]</p>

<p data-end="2549" data-start="2388">The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.</p>

<p data-end="2678" data-start="2551">For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.</p>

<p data-end="2757" data-start="2680">“People buying now often aren’t moving in for several years,” Abolakian says.</p>

<p data-end="2949" data-start="2759">“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”</p>

<p data-end="3219" data-start="3163">That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.</p>

<p data-end="3219" data-start="3163">[smartcode_project:default project_id=149594 project_image_fid=362634]</p>

<p data-end="3454" data-start="3221">While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.</p>

<p data-end="3546" data-start="3456">“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”</p>

<p data-end="3919" data-start="3669">That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.</p>

<p data-end="4005" data-start="3921">“It’s about creating something that feels special without being excessive,” he says.</p>

<p data-end="4112" data-start="4007">“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”</p>

<p data-end="4112" data-start="4007"><img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" /></p>

<p data-end="4243" data-start="4114">The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.</p>

<p data-end="5230" data-start="5149">“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.</p>

<p data-end="5392" data-start="5232">“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”</p>

<p data-end="5674" data-start="5394">Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.</p>

<p data-end="5723" data-start="5676">“There are definitely people waiting,” he says.</p>

<p data-end="5902" data-start="5725">“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”</p>

<p style="text-align:start">Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.</p>

<p style="text-align:start">Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.</p>


Why Hyecorp continues to back Sydney's Lower North Shore apartment market

<p>South East Queensland’s apartment market is entering a new phase defined by rising prices, constrained affordability, and mounting pressure on the construction pipeline, according to RPM Group’s latest SEQ Apartments &amp; Townhomes Market Report.</p>

<p>The May 2026 report highlights a widening divide between what buyers can afford and what developers can viably deliver, with detached house prices continuing to push more buyers toward apartments across Brisbane, the Gold Coast, and the Sunshine Coast.</p>

<p>RPM says Brisbane’s median house price has reached around $1.5 million, accelerating the shift toward higher-density housing as buyers are increasingly priced out of the detached market.</p>

<p>[smartcode_project:default project_id=135094 project_image_fid=356540]</p>

<p>Median unit prices rose across all three major SEQ markets in the March quarter. Brisbane City recorded the strongest annual growth, with median unit prices climbing 21 per cent to $862,000, while the Gold Coast reached the highest overall median at $950,000, up 17 per cent year-on-year. The Sunshine Coast followed at $870,000, representing annual growth of nine per cent.</p>

<p>RPM noted the affordability gap between houses and units remains significant, with detached homes commanding premiums of 67 per cent in Brisbane and 68 per cent on the Gold Coast relative to apartments.</p>

<p>The report suggests this price disparity is increasingly consolidating buyer demand within the apartment market, particularly among downsizers and owner-occupiers.</p>

<p>“Demand is real. Supply is moving. But they’re operating on different timelines and the gap between what’s being built and what buyers can afford is the defining tension in this market right now,” RPM Queensland and NSW Managing Directors Peter Neale and Clinton Trezise said in the report.</p>

<p>[smartcode_project:default project_id=150787 project_image_fid=366230]</p>

<p>While approvals and commencements are strengthening, RPM argues the delivery pipeline remains constrained by construction costs, labour shortages, and extended build timelines.</p>

<p>Apartment approvals across Queensland increased 86 per cent over the year to February 2026, reaching 12,682 approvals, the highest level recorded since 2016. Brisbane overtook the Gold Coast as the state’s most active apartment approval market, with nearly 5,000 apartments approved over the past 12 months.</p>

<p>Unit commencements also strengthened considerably, rising 48 per cent year-on-year to 5,453 commencements in the December 2025 quarter, the highest level since 2018.</p>

<p>However, RPM’s research found apartment delivery timeframes have expanded sharply compared to the previous cycle. Projects are now averaging around 30 months from approval to completion, compared to roughly 20 months a decade ago.</p>

<p>[smartcode_project:default project_id=143932 project_image_fid=367515]</p>

<p>The number of units under construction has climbed to approximately 31,530 dwellings, nearing the previous 2016 peak, though projects are remaining in the pipeline for considerably longer.</p>

<p>Construction costs continue to weigh heavily on feasibility. RPM found the average apartment construction cost in Greater Brisbane reached $630,000 per dwelling in 2025, exceeding both Sydney and Melbourne. Coastal Queensland markets, including the Gold Coast and Sunshine Coast, were even higher at an average of $817,418 per apartment due to the prevalence of larger premium product.</p>

<p>The report also points to increasing pressure from Olympic-related infrastructure spending ahead of Brisbane 2032, with labour competition expected to intensify over the next several years.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370960]</p>

<p>ANZ Associate Director of Property Daniel Gradwell said the underlying demand drivers across South East Queensland remain strong, supported by interstate migration, downsizers, and population growth.</p>

<p>“The challenge is bringing enough supply to market to meet that demand, and nothing on the horizon makes that straightforward,” Gradwell said.</p>

<p>RPM’s analysis found the affordability challenge is becoming more pronounced in the new apartment market itself, with only three per cent of surveyed new apartments priced below $1 million.</p>

<p>Instead, the market is increasingly concentrated in higher price brackets, with the most common new apartment price band across SEQ sitting between $1.5 million and $1.75 million. Around half of all new apartment stock surveyed is priced below $2 million.</p>

<p>The report suggests developers are not necessarily avoiding lower price points by choice, but because current construction economics make delivering affordable apartments increasingly difficult at scale.</p>

<p>Rental conditions also remain tight across the region. Median rents for one-bedroom apartments rose 12 per cent in Brisbane over the past year to $580 per week, while Gold Coast one-bedroom rents increased nine per cent to $630.</p>

<p>Despite rising rents, RPM noted bond lodgements have generally trended downward over the past five years, indicating more apartments are being absorbed by owner-occupiers rather than retained as investor-held rental stock.</p>

<p>Looking ahead, RPM expects projects targeting the mid-market owner-occupier segment between $1.25 million and $2 million to remain the most viable part of the market, while premium projects in highly constrained coastal or riverfront locations continue to attract demand.</p>

<p>“Construction costs are rewriting the feasibility rulebook across Greater Brisbane, and with little relief in sight, only projects in the right price band, right location, and with presales secured early will make it through,” the report concludes.</p>


SEQ apartment demand outpacing affordable supply as construction timelines stretch: RPM

<p data-end="231" data-start="139">Camberwell Junction has long been the epicentre of amenity in Melbourne’s Boroondara region.</p>

<p data-end="597" data-start="233">For nearly a century, it has drawn both locals and visitors, anchored by the Camberwell Sunday Market, which first operated in 1929 and quickly became a fixture of the suburb’s identity. Over time, the Junction evolved into one of Melbourne’s most established retail and lifestyle precincts, now comprising more than 400 stores and over 300 commercial businesses.</p>

<p data-end="699" data-start="599">Despite that depth of amenity, one thing has remained notably limited: the supply of new apartments.</p>

<p data-end="1041" data-start="701">In a suburb defined by its heritage streetscapes and tightly held residential stock, new development opportunities have been scarce, particularly within the core of the Junction itself. That lack of supply has left a gap in the market for larger, design-led apartments suited to downsizers and owner-occupiers wanting to remain in the area.</p>

<p data-end="1173" data-start="1043">Boutique developer Above Zero identified that gap when it secured a prime site on Burke Road, in the heart of Camberwell Junction.</p>

<p data-end="1173" data-start="1043">[smartcode_project:default project_id=4896 project_image_fid=368543]</p>

<p data-end="1566" data-start="1175">The site has a long planning history. Various proposals have been put forward over more than a decade, many of which were knocked back by the City of Boroondara, with initial applications dating back to 2015. Above Zero acquired the site in 2022 and returned with a revised scheme, refining both the building’s height and its ground-level interface to better align with Council expectations.</p>

<p data-end="1629" data-start="1568">That process has culminated in approval for Camberwell House.</p>

<p data-end="1845" data-start="1631">The Cera Stribley-designed development will deliver 57 residences on a 1,950 sqm site within the Camberwell Activity Centre, placing it directly within one of Melbourne’s most established retail and transport hubs.</p>

<p data-end="2162" data-start="1847">It is expected to be one of the only new apartment developments to launch in the Junction in recent years, reinforcing the rarity of new supply in the precinct. Currently, there are just a handful of projects on the market in Camberwell, underscoring the significance of a development of this scale and positioning.</p>

<p data-end="2162" data-start="1847">[smartcode_project:default project_id=4896 project_image_fid=368544]</p>

<p data-end="2438" data-start="2164">Camberwell House has been conceived with a clear focus on larger-format apartments. The project will offer a mix of two-, three- and four-bedroom residences, alongside a limited number of penthouses, targeting owner-occupiers seeking scale rather than volume-driven product.</p>

<p data-end="2496" data-start="2440">The building’s vertical presence will also set it apart.</p>

<p data-end="2868" data-start="2498">Positioned on Burke Road, the development is set to become one of the taller buildings in its immediate context, allowing for elevated outlooks across Melbourne’s CBD skyline and toward the Dandenong Ranges. In a precinct characterised by lower-scale built form, that height provides a point of differentiation, particularly for buyers seeking outlook and natural light.</p>

<p data-end="2868" data-start="2498">[smartcode_project:default project_id=4896 project_image_fid=368568]</p>

<p data-end="3133" data-start="2870">Architecture has been led by Cera Stribley, with interiors by GOLDEN and landscape design by Florian Wild. The design approach centres on material consistency and restraint, with residences oriented to maximise light, ventilation and connection to outdoor spaces.</p>

<p data-end="3317" data-start="3135">Full-height glazing and generous terraces form a key part of that strategy, allowing apartments to extend beyond their internal footprint and engage with the surrounding environment.</p>

<p data-end="3413" data-start="3319">Beyond the private residences, a significant component of the project is its amenity offering.</p>

<p data-end="3710" data-start="3415">Above Zero has positioned Camberwell House as a “complete living environment”, incorporating a full floor dedicated to resident facilities. At the centre of that is a wellness zone, including a 12.5-metre lap pool, spa, sauna and treatment spaces, alongside a gym and recovery-focused amenities.</p>

<p data-end="3852" data-start="3712">This level of amenity is more commonly associated with inner-city developments, rather than established middle-ring suburbs like Camberwell.</p>

<p data-end="3852" data-start="3712">[smartcode_project:default project_id=4896 project_image_fid=368588]</p>

<p data-end="4137" data-start="3854">Additional shared spaces include a private library lounge, dining and entertaining areas, and an indoor golf simulator. A self-contained guest suite has also been incorporated, allowing residents to accommodate visiting family or friends without impacting their primary living space.</p>

<p data-end="4220" data-start="4139">The inclusion of these facilities reflects a broader shift in buyer expectations.</p>

<p data-end="4590" data-start="4222">As more downsizers look to transition from larger family homes into apartments, there is increasing demand for developments that offer not just a residence, but a lifestyle. That includes access to wellness, social and entertaining spaces within the building itself, reducing the reliance on external amenity while still maintaining proximity to established precincts.</p>

<p data-end="4644" data-start="4592">Camberwell House is positioned to benefit from both.</p>

<p data-end="4919" data-start="4646">Its location places it within immediate walking distance of Camberwell Junction’s retail and dining offering, as well as public transport connections, including tram and train services. That combination of internal amenity and external convenience is central to its appeal.</p>

<section data-scroll-anchor="false" data-testid="conversation-turn-150" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-74" dir="auto">
<p data-end="271" data-start="88">Jellis Craig Projects Director Stephen Bowtell is handling sales for the project and says Camberwell House offers a rare entry point into one of Melbourne’s most tightly held markets.</p>

<p style="text-align:start">“Buyers are recognising that Camberwell House offers something they simply haven’t seen before in Boroondara,”&nbsp;Bowtell&nbsp;says.</p>

<p>“It combines a level of resident amenity and service typically associated with Melbourne’s premium inner-city developments, while being positioned right in the heart of Camberwell Junction.</p>

<p>“The response to the concierge offering has been particularly strong. Buyers appreciate not only the convenience, but also the sense of security and peace of mind that comes from having a dedicated presence in the building every day.</p>

<p>“When you combine that with the wellness facilities, the exceptional arrival experience, and panoramic views across both the CBD skyline and the Dandenong Ranges, it creates a lifestyle proposition that is genuinely unique within the local market.”</p>
</section>

<p data-end="5000" data-start="4921">[smartcode_project_cta:default project_id=4896]</p>


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