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Perth’s median house price grew by 18% over the three years to December 2014, underpinned by record net overseas and interstate migration inflows, according to QBE's latest housing report. But the good times aren't set to last, the report predicts. 
This resulted in tight vacancy rates and significant rental growth. Demand was driven by strong economic conditions brought on by booming mining investment and significantly improved affordability as interest rates were lowered.
But mining investment is now retreating rapidly and economic conditions have weakened considerably.
New engineering construction has tapered off as projects adding additional mining capacity are progressively completed.
Diminished employment opportunity has led to a substantial fall in net migration. In 2014/15, net overseas migration fell below 15,000 persons for the first time since 2004.
Interstate migration has also become a net outflow for the first time since 2003. State unemployment has increased above 6% in the first half of 2016; above the national level of 5.7%.
While mining output has increased, the production phase is less labour intensive than the investment phase. Western Australia’s unemployment rate is likely to continue to rise and remain elevated in the medium term, QBE predict. Net migration inflows are likely to remain soft for now.
After peaking in December 2014, Perth’s median house price fell by 2% in the six months to June 2015, and this has accelerated to a decline of 5.6% in 2015/16. The decline was greatest in the inner Perth suburbs (–7.2%) while both Middle and Outer ring suburbs fell 5.2% in 2015/16.
The higher priced inner suburbs are likely to be feeling the largest impact from the weakness in the higher income resource sector jobs.
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Weakening owner occupier demand has seen the number of loans to both first home buyers and upgraders/ downsizers decline by 15% and 10% respectively in 2015/16. The decline in investor demand has been more dramatic, with the value of loans to investors falling by 32% in 2015/16.
Rising new dwelling building approvals through the upturn in prices is being reflected in new dwelling completions continuing to rise in 2016.
This contrasts with a sharp decline in the rate of population growth and consequently underlying demand. The Western Australian market has moved into oversupply, which is reflected in vacancy rates of close to 5%; far above the balanced market rate of 3%, say QBE.
With underlying demand likely to continue to weaken, and further dwellings under construction working their way to completion, there is little to place upward pressure on rents and prices through to 2018/19.
Overall, the Perth market is expected to weaken across both house and unit markets. The impact of a rising stock surplus and a slowing state economy is forecast to result in a further decline in Perth’s median house price of 3% to June 2018.
Low interest rates should mitigate a deeper fall in the median house price, which is expected to stabilise in 2018/19, and potentially show a minimal rise, with mining investment bottoming out and interest rates forecast to be cut further in 2018. The forecast median house price of $540,000 at June 2019 is forecast to be 10% below its December 2014 peak.
However, Perth’s median house price in real terms is forecast to be 24% below its peak in March 2007 set during the first mining boom through the middle of the decade.
<img src="/images/2016/10/14/Chart%2028.jpg" alt="">
The unit market has seen rising completions across Perth over the last three years. However, units remain just a third of all new dwelling approvals; well below the other capitals of Sydney, Melbourne and Brisbane.
Much of the strong migration into Perth has been temporary in nature with the unit market consequently expected to see a greater fall in rents and higher vacancy rates. Temporary residents tend to favour the unit market over the house market given the short term nature of their stay.
Downward rent and price pressures are therefore forecast to be greater in the unit market than the house market. Median unit rents have weakened significantly and Perth’s median unit price has begun to decline, falling by 6.5% in the year to June 2016 to $403,100. Further declines totalling 6% are forecast in 2016/17 and 2017/18, before unit prices bottom out over 2018/19 to be $380,000 at June 2019.
Regional centres in Western Australia have borne the brunt of the impact of the downturn in resource sector investment.
These towns typically have a narrow industry profile and are susceptible to local economic events. Median house prices climbed rapidly through the early boom period as the influx of mining investment led to job creation, population growth and demand for housing.
As the mining investment wound down, median house prices fell sharply while unemployment rates grew rapidly and population left.
• Karratha LGA in the Pilbara region saw earlier price growth as a result of the mid 2000s boom in mining investment, with the median house price already elevated after the GFC in 2009. The median house prices grew 21% to peak at $850,000 from their 2009 level. Since the peak, the median house price has fallen 64% to $304,000 in June quarter 2016. The unemployment rate has risen from 1.8% to 2.3% over the three years to March 2016.
• Port Hedland LGA saw its median house prices rising by 127% between June 2007 and March 2013, reaching a peak of $1.1 million. However, the median house price has since collapsed by 72% to $305,000 at June 2016, while the unemployment rate has risen from 3.3% to 5.0% in the three years to March 2016. It is likely that the unemployment rate in these centres is relatively low as those that are not employed are likely to have left.
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Sales volumes in Port Hedland and Karratha in 2015/16 are also well down on previous levels. The lower sales volumes suggests that many owners are retaining their property rather than accepting a loss on sale.
Those that are sold are more likely to be forced sales, which would be helping to drive the median sale price down.
Movements in population and demand have had a big impact on prices in the smaller regional centres, in contrast with Perth, where the median house price has only declined by 4% from its peak.
Perth also experienced a more moderate cycle in prices in the most recent boom in mining investment, with the median house price rising by 32% between December 2008 and September 2014. The larger size of the residential market and more diversified economic base of Perth has helped to support prices.
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j.ballantyne1990-6AQqhLzZaK

Perth house prices heading towards 24% decline from boomtime peak: QBE Housing Outlook

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The median house price in Adelaide has shown steady growth since 2012/13 as lower interest rates and prices at a relatively low base resulted in a period of improved affordability, according to QBE's latest housing report.
Employment drivers at the time, in the form of public infrastructure projects, also spurred migration inflows propping up underlying demand. The median house prices at June 2016 was $461,000, up 3.2% on a year earlier.
Inner Adelaide median house prices have grown 26.7% on a year earlier. However, the inner region covers a small sample area and is a tightly held market with low transactional activity increasing volatility in the median price measurement. The Middle and Outer ring medians have shown much more moderate growth at 2.7% and 2.1% respectively.
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The South Australian economy is forecast to face some significant economic headwinds with the manufacturing sector suffering from the relatively high Australian dollar compared to lower cost competitors overseas. Several public engineering construction projects have also been completed such as the Noarlunga Line Electrification, the South Road Superway and the Southern Expressway Duplication.
With the completion of these projects, public investment will decline significantly with few projects to fill the void in employment growth. Additionally, the scheduled closure of the Holden manufacturing plant in Elizabeth in 2017 is expected to further drag on the economy.
Some job creation should come from increased ship and submarine building, but with few other large employment drivers, the state economy is expected to struggle for growth.
Dwelling construction activity has also peaked in 2015/16 as price growth and low borrowing costs has driven commencements. Underlying demand has not kept pace and an excess in dwellings is forecast to have emerged in Adelaide in 2015/16.
This surplus is expected to accelerate over the forecast period as underlying demand remains weak brought on by softening economic conditions. This is expected to put pressure on vacancy rates, already climbing above the balanced rate in June 2016 at 3.3%.
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As rental yields fall and competition increases for tenants, investor demand is expected to contract leading to limited house price growth.
The low interest rate environment with potential cuts over the next year, is expected to result in affordability improving. The ratio of mortgage repayments on a median priced house is forecast to be around 21%, which is the lower end of its range over the past 20 years.
This will prevent major falls in house prices and median house price growth of 0.9% is expected in 2017/18, before the rising surplus and slowing economic activity result in a 2.2% decline in prices in 2017/18.
A total decline of 1.3% is expected for median house prices over the forecast period, taking the median house price to $455,000 at June 2019.
Compared with the east coast capital cities, Adelaide does not experience the same level of new unit or apartment development activity and the unit market is consequently forecast to move in line with the forecast for house prices. However, much like the other state capitals, investor purchasers are more prevalent in the unit market.
Tighter restrictions on investor lending is seeing a decline in investor demand and as a result median unit prices are forecast to remain relatively flat over the three years to 2019, declining an aggregate 0.6% over this period to $340,000 at June 2019.
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Adelaide economy to struggle but major house price falls will be prevented: QBE Housing Outlook

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A grand two-level freehold building in Melbourne’s highly sought-after inner north suburb of Clifton Hill has sold for $4.5 million.
The sale price reflected a 2% yield on the total income. It was originally the Melbourne Savings Bank and <a href="https://www.realcommercial.com.au/property-retail-vic-clifton+hill-502056294" target="_blank" style="font-size: 12.16px;">last sold in 2008</a> at $2 million.
Fitzroys agents Michael Ryan and James Gregson sold the property on behalf of a private vendor at a land rate of $6,521 per square metre.
The 690 square metre site has a wide 20.15 metre frontage to Queens Parade and rear right of way. It comprises a two-storey building of 300 square metres, featuring a fully-fitted restaurant ground floor with the first floor currently being used as a residence.
Zoned Commercial 1, it was sold with a lease to Taco Bill on the ground floor.
Ryan said the surrounding area has undergone significant transformation with numerous medium to high-density development being undertaken, further stimulating retail food and beverage service uses with the vicinity.
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Grand former 1880s Clifton Hill bank sells for $4.5 million

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A local investor has paid a premium to acquire an office investment in Cremorne for $1.85 million.
CBRE negotiated the sale on behalf of Melbourne fashion label, White Suede, with the sale subject to a two year leaseback.
Located at 47 Cubitt Street, the 271 square metre three-level office/showroom was offered to the market via a public auction campaign, however, the sale was negotiated prior to auction.
The competitive pre-auction bidding contributed to the price equating to approximately $11,600 per square metre over the land and $7,800 per square metre over the building.
 
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Boutique Cremorne, Melbourne investment snapped up prior to auction

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A 1012 square metre Surfers Paradise development has been listed for sale.
The property at <a href="https://www.realcommercial.com.au/property-land+development-qld-surfers+paradise-502116966" target="_blank">9-11 Thornton Street</a> has been DA approved for either a beach hotel or a 30 storey apartment with 81 apartments.
It is close to the Northcliffe light rail, as well as being only 50 metres to the beach.
It will have ocean and beach views.
Colliers International agents Geoff Lamb and Darrell Irwin are offering the property.
<img src="/images/2016/10/03/9%20-%2011%20Thornton%20Street.jpg" alt="">
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Surfers Paradise hotel development site for sale

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Owner-occupier Quicklift Garage Doors has paid $2.96 million for an office and warehouse facility at Mulgrave in Melbourne’s south-east.
The deal was brokered by Savills agent Daniel Kelly.
Located within Enterprise Park, the 61-63 Glenvale Crescent property comprises a 2775 square metre office/warehouse, which includes 2375 square metres of warehousing on a 5741 square metre site with 50 on-site car spaces.  
Kelly said Quicklift had been in the market for more than 12 months, with a requirement to find a property which was well located to key arterials and that would accommodate the company‘s consolidation of operations from two other locations.
"Like a significant number of companies, Quicklift wished to take advantage of low interest rates to move from multiple smaller locations and wished to rationalise its current operations into one modern facility," he said.
"The Glenvale property offered good utility and a superior location with great access to the Monash Freeway."
Kelly said the former tenant, Rectron Electronics, which had been at the property for 10 years, would relocate to a smaller distribution facility at Forster Road, Mt Waverley.
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Quicklift pays $2.96m for Mulgrave industrial

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An historic Queensland hotel at Thallon has been listed for sale.
The <a href="https://www.realcommercial.com.au/property-hotel+leisure-qld-thallon-502103702" target="_blank">Nindigully Pub</a>, at 2-20 Mayes Street, was established in 1864 and has been marketed as Queensland oldest pub.
It arguably holds the longest continual liquor license in Queensland. The two hectare holding is on the banks of the Moonie River.
The hotel has hosted special events such as pig races and car rallies.
It has appeared on many television shows including Get Away and Sunrise.
It has also made a name for itself by serving up the the 'Roadtrain Burger' that feeds four people and weighs 2kg, as well as the 1kg T-Bone Steaks, although the normal pub menu is popular. 
Offers close November 9 with Rich and Partners agent Tony Rich.
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Iconic Thallon hotel for sale

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An office building at Braddon, ACT is currently up for sale, just seven years after selling at $44 million.
The A-grade property at <a href="https://www.realcommercial.com.au/property-offices-act-braddon-502120266" target="_blank">82 Northbourne Avenue</a> has striking architecture on the CBD fringe of Canberra.
The seven storey building is the latest to hit the market on Northbourne Avenue.
The highly visible structure is expected to sell for about $60 million.
<img src="/images/2016/10/03/82%20Northbourne%20Avenue.jpg" alt="">
The building was designed by architects BVN and occupied by the Australian Maritime Safety Authority.
The land is 2090 square metres with a floor area of 7,001 square metres, plus it includes basement parking.
The building is offered through joint agencies Colliers International agents Tim Mutton and Paul Powderly and Raine &amp; Horne Commercial Canberra agents Nick Cotis and Frank Morella.
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Braddon office building tipped for $60m plus sale 

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The Starbucks coffee chain has leased one of the top corner retail locations on Manly Beach.
It has leased the Ocean Beach Tea Rooms at 110 The Corso.
Despite seemingly receiving a lukewarm reception from local residents, Colliers International agents Blake Harey and Scott Smith secured the chain as tenant for a local investor landlord.
The 152 square metre ground floor retail space that features heritage facades has been leased for seven years, with the option to extend.
They did not rent the first floor wraparound balcony, which remains vacant.
Industry sources estimated that the site would fetch an annual rent of more than $3000 per square metre, according to the local paper.
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Starbucks leases at Manly Beach

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Treasury secretary John Fraser says Australia's the high cost of housing is a "worry".
Pressed at the Senate economics committee hearing on Wednesday on the high cost of housing , particularly for younger Australians, Mr Fraser said the gains in prices were fuelling a circle of increased wealth leading to people becoming more comfortable taking on more debt.
"It's a worry. As an old person I talk with people my age.
"And the bank of mum of dad is becoming more and more prevalent," he said.
"It has impacts on superannuation, and why people are saving in their older years to fund their children's housing needs."
Mr Fraser questioned whether households understand enough about the consequences of debt if their income was hit or jobs.
"I don't take any joy that we have this housing situation. Particularly for younger people."
Mr Fraser added that the biggest issue was a lack of supply and land release, as well as needed infrastructure investment on sewerage, roads, and transport.
In June 2015 he said there is was "no doubt in his mind there is a Sydney housing price bubble."
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Treasury secretary John Fraser finds worry in high housing costs

Buying into a masterplanned community often means committing to a vision still years from taking shape. At <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>, that vision is already visible.

Residents have moved into the completed first stage, landscaped spaces are established, and the next chapter is now underway. Stage 1 has been completed and settled, with Stage 2 now selling off-the-plan.

Designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> combines attainable apartment living with sustainability initiatives rarely seen at this price point, including rooftop solar, battery storage and a resident EV-sharing program.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/6RNt3AvtBpI?si=JUhuCV2ZRXsYaoJZ" title="YouTube video player" width="560"></iframe>

Located on Schofi​elds Road, just moments from Tal​lawong Metro Station and Schof​ields Train Station, <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been designed to appeal to a broad mix of buyers, from first-home purchasers looking for a foothold in Sy​dney's property market to downsizers seeking a connected, low-maintenance lifestyle.

<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> has been conceived as a thoughtfully planned masterplanned community that will evolve over multiple stages, with buyers now able to secure one, two and three-bedroom apartments within a neighbourhood that is already beginning to establish its identity.

One of the project's defining features is its focus on sustainability. Solar energy systems, battery storage and future EV charging infrastructure have been incorporated throughout the development, reflecting a long-term approach to both environmental performance and everyday convenience.

Sustainability sits at the centre of the development's vision, with solar energy systems, battery storage and future EV charging infrastructure integrated throughout the community.

That emphasis on future-ready living extends beyond the technology. Landscaped communal gardens, outdoor gathering spaces and plans for a future retail precinct aim to create a neighbourhood where residents can access daily conveniences without travelling far from home.

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The apartments themselves have been designed with liveability front of mind. Rather than chasing maximum density, the focus has been placed on creating practical homes with generous natural light, usable layouts and strong connections to outdoor space.

Importantly, these design principles have been applied consistently across the one, two and three-bedroom apartment offerings.

The appeal of <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> is also closely linked to its location within Syd​ney's rapidly evolving north-west growth corridor. Over the past decade, major infrastructure investment has transformed the area, with new transport links, business precincts and community facilities reshaping suburbs like Talla​wong and Schofiel​ds.

The agent says buyers are increasingly recognising the area's long-term potential.

"Typical buyers that we're finding across <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> especially are your first-home buyers, your investors, your upsizers as well as your downsizers," Hawes says.

Connectivity remains one of the project's strongest drawcards. Residents have access to both Tallaw​ong Metro Station and Schofi​elds Train Station, providing links to the Sydn​ey CBD, Norw​est Business Park, Macquari​e Park and other major employment hubs. Retail centres including Rous​e Hill Town Centre and Sch​ofields Village are also nearby, alongside schools, parks and future healthcare infrastructure.

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For Stage 1 resident Roji, it is the balance between convenience and comfort that has defined the experience of living at Kew.

"For me, it's a balance of quality and convenience," she says. "Everything I need is right here."

"If I wanted to catch the train, Scho​fields Station is just around the corner. Tallaw​ong Metro connects me to the city."

More importantly, she says, the development has delivered something that cannot be measured in floorplans or specifications.

"<a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> feels like home."

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As Stage 2 enters the market, that lived experience may be one of the project's strongest selling points. Buyers are not purchasing into an untested concept or a future promise. They are joining a community that is already taking shape.

Ongoing investment in transport, retail, healthcare and public open space continues to strengthen the appeal of Syd​ney's north-west growth corridor, while <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a>'s established first stage provides buyers with a tangible sense of the community's future direction.

For a limited time, buyer can secure a new home at <a href="https://www.apartments.com.au/new-apartments/kew-tallawong-23-27-schofields-road-tallawong-nsw-2762">Kew Tallawong</a> with just a $10,000.

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Joel Robinson

Kew Tallawong: A growing community taking shape in Sydney's north-west

<a href="https://www.apartments.com.au/developers/freecity">Freecity</a> has received development approval for its 51-storey mixed-use tower at 153-157 Walker Street, North Sydney, set to be one of the tallest mixed-use residential-led buildings in one of Sydney’s most sought-after commercial and residential addresses.

Lodged as a State Significant Development Application (SSDA) through the Housing Delivery Authority (HDA) pathway and approved by the NSW Department of Planning, Housing and Infrastructure following a comprehensive public exhibition and submissions process, <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">the project</a> will deliver 296 apartments, alongside a 170-room, luxury hotel, activated retail and significant public domain improvements.

Situated just 200 metres from Victoria Cross Metro Station, on one of the largest developable sites in North Sydney, the development will rise to 234 metres, making it one of the tallest buildings in the suburb. With an end value of approximately $1.5 billion, the project responds directly to the NSW Government’s mandate to accelerate housing delivery in well-located, transit-connected areas.

<img alt="Freecity gets green light for mixed-use residential and hotel tower in North Sydney" data-entity-type="file" data-entity-uuid="192ec455-94bf-4e01-83ef-922b1b269d67" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Freecity%20-%20Walker%20Street%20North%20Sydney%201%20RESIZED%20.jpg?VersionId=Bzqp0SBHCDvLAHjA4QXkjuGoOEIh73Jl" />

The apartment mix will cater to a broad range of buyers, with 65 studio and one-bedroom apartments, 139 two-bedroom residences, 35 three-bedroom apartments, 48 four-bedroom homes, and nine penthouses. Residents will have access to a dedicated amenity level on Level 33, featuring a swimming pool with views towards the Harbour Bridge, Sydney Opera House and North Sydney CBD, as well as a gym, library, shared kitchen, lounge and outdoor entertaining areas.

The hotel will occupy the lower six levels of the building and include meeting and function spaces, a wellness centre with gym, yoga studio, swimming pool and sauna, further strengthening North Sydney's growing hospitality offering.

At ground level, the development has been designed to improve pedestrian connections through the precinct. More than 700 sqm of retail space will activate the street frontage, while a landscaped through-site link connecting Walker Street, Little Walker Street and Doris Fitton Park will provide new public open space with seating, paving and extensive native landscaping.

Freecity Group Co-Founder and Joint CEO Tony Sun said the project represents one of the most significant development opportunities currently available in North Sydney.

"This is one of the most significant development sites in North Sydney and it comes at a pivotal moment for the precinct," Sun said.

"North Sydney is undergoing a genuine transformation, and this project will contribute housing the city urgently needs while creating a landmark destination."

Executive Director of Development Michael Romano said demand for both residential and hotel accommodation would continue to strengthen as the Metro precinct matures.

"The structural demand for high-quality housing and hotel accommodation in North Sydney is compelling, and will only grow as the precinct continues to evolve around the new Metro station," Romano said.

Architectus has designed the tower, orientating the apartments to maximise views towards Sydney Harbour while introducing a sculpted façade intended to respond to light, wind and the surrounding skyline.

Architectus Principal Marko Damic said the design sought to create a tower that contributes to the public realm as much as the skyline.

"We wanted to design a tower that doesn't just sit in the skyline but actively participates and contributes to city life," Damic said.

First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and <a href="https://www.apartments.com.au/developers/perifa">PERIFA</a> have celebrated the topping out of <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf,</a> marking a significant milestone in the delivery of one of Syd​ney's most anticipated waterfront communities.

Located on Sydney's harbourfront at <a href="https://www.apartments.com.au/developments/putney-nsw-2112">Putney</a>, the project has now reached its highest structural point, with construction progressing strongly towards completion in 2027. 
&nbsp; 
The milestone was celebrated on-site with project partners Phoenix Property Investors, Mitsubishi Estate Asia, Versatile Construction, <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, consultants and stakeholders, to recognise the collective effort behind the transformation of the historic waterfront site into a vibrant new residential, marina and lifestyle destination.

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<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will deliver a mix of waterfront residences and terraces, complemented by a private 36-berth marina, waterfront dining opportunities and a revitalised foreshore designed to reconnect the community with the river's edge. 
&nbsp; 
Abadeen Executive Chairman and Founder Justin Brown said the project represented a rare opportunity to create the next chapter in Sydn​ey's long history of successful waterfront precincts. 
&nbsp; 
"Throughout Sydney, some of the city's most sought-after addresses have emerged from carefully considered waterfront precincts such as Woolloom​ooloo Wharf, Walsh Bay and Breakfast Point," Brown said.

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&nbsp; 
"What makes these places so successful is that they become much more than residential developments," Brown said.

"They bring together homes, hospitality, marina facilities, public spaces and a strong sense of community in locations where future supply is incredibly limited."

Brown has long described absolute waterfront land in Sy​dney as "finite."

"Once these opportunities are developed, they are rarely replicated. That's why Syd​ney's waterfront precincts have consistently demonstrated strong demand and long-term value growth over many decades. 
&nbsp; 
"<a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is one of the few remaining opportunities to secure a residence within a masterplanned waterfront community that combines direct water access, marina ownership opportunities and a genuine village lifestyle just moments from the Sy​dney CBD."

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&nbsp; 
PERIFA Founder and Managing Director Fabrizio Perilli said the project reflected a shared commitment to delivering exceptional places that create long-term value for residents and the broader community. 
&nbsp; 
"The topping out milestone is a significant achievement for the Versatile Group and a testament to the collaboration between all project partners, consultants and contractors involved," Perilli said. 
&nbsp; 
"Beyond the residences themselves, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> will establish a new waterfront destination that celebrates the history, character and lifestyle of this unique location while creating a lasting legacy for future generations."

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&nbsp; 
Construction is being delivered by <a href="https://www.apartments.com.au/builders/versatile">Versatile Construction</a>, with structural works now substantially complete across the precinct. Attention will progressively shift to the construction of the waterview terraces, apartment façades, services and interior fit-out works over the coming months. 
&nbsp; 
With limited residences and marina berths remaining, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> continues to attract strong interest from owner occupiers and downsizers seeking a premium waterfront lifestyle within close proximity to Putne​y Village, Rh​odes, Top Ry​de and the Syd​ney CBD. 
&nbsp; 
As one of the last opportunities to secure a residence within a new masterplanned waterfront community on Sy​dney Harbour, <a href="https://www.apartments.com.au/new-apartments/putney-wharf-harbourfront-precinct-20-waterview-street-putney-nsw-2112">Putney Wharf</a> is expected to remain a highly sought-after address for years to come.

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Abadeen, PERIFA, top out Putney Wharf harbourfront precinct

Kew has long been regarded as one of Melbourne's premier residential suburbs. It's a location defined by its grand period homes, leafy streets and some of the city's most prestigious schools, yet it has often sat just outside the spotlight cast on neighbouring Hawthorn and Camberwell.

Increasingly, however, buyers are recognising that Kew offers much of what draws people to those suburbs, with a quieter residential setting, exceptional amenity and long-term owner-occupier appeal.

Within a few minutes' walk, residents can access Kew Junction, one of Melbourne's most established village centres. Cafés, bakeries, restaurants, supermarkets, boutique retailers and everyday services are all on the doorstep, with local favourites including Centonove, Adeney Milk Bar Cafe, and Frank &amp; Harri creating the type of walkable lifestyle that has become increasingly difficult to find in Melbourne's inner east. Beyond the immediate neighbourhood, Glenferrie Road's renowned shopping and dining precinct in Hawthorn and the retail, dining and entertainment offerings of Camberwell Junction are both just a short drive or tram ride away.

The suburb is equally well connected. Tram routes 48 and 109 provide direct access to the CBD, while High Street and Cotham Road connect residents to the wider inner east.&nbsp;Nearby access to the Eastern Freeway also places the Yarra Valley, Mornington Peninsula and Melbourne Airport within easy reach, adding another layer of convenience for weekend travel.&nbsp;It's a rare combination of connectivity and tranquillity, where quiet residential streets sit just moments from some of Melbourne's most established shopping and lifestyle precincts.

For families, Kew remains one of Melbourne's most tightly held addresses. Carey Baptist Grammar School, Xavier College, Methodist Ladies' College, Trinity Grammar, Ruyton Girls' School and Genazzano FCJ College are all nearby, while the Yarra River parklands, walking trails and sporting clubs provide another layer of lifestyle appeal.

It's within this established pocket that developer Ricdanic is delivering <a href="https://www.apartments.com.au/new-apartments/wimba-ave-kew-9-11-wimba-avenue-kew-vic-3101">Wimba Ave</a>, a boutique collection of just 13 residences across two buildings named after its location on the tree-lined Wimba Avenue,&nbsp;within one of Kew's most prestigious pockets where homes have been known to sell up to and above $8 million.

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The residences prioritise the space that buyers are increasingly searching for but struggling to find in established suburbs. Living areas extend beyond five metres in width, ceiling heights range from three to five metres, and apartments open onto private gardens averaging around 125 sqm. Selected residences also feature balconies of approximately 60 sqm, while premium inclusions include Miele appliances, double-glazed windows, EV readiness, fully electric systems and a 7.2 NatHERS energy rating.

Architect Chris Idle says opportunities to deliver homes of this scale within established suburbs have become increasingly uncommon.

"There are very few opportunities to do these kinds of developments in leafy, established suburbs," he says. "To get this level of amenity, natural light, and architectural freedom in such a setting is extremely rare."

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The architecture draws on Kew's established character through the use of handmade Krause bricks, while landscaping by John Patrick introduces 23 plant species, including nine native varieties, creating an environment which focuses just as much on nature as it does the building.

Construction on Wimba Ave is well underway by renowned high-end builder Sinjen, with completion expected in late 2027. Prices start from $2.22 million.

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The enduring appeal of Kew's tree-lined streets and village lifestyle

"For me, it's the location." That was the first thing Chris pointed to when reflecting on why he and his wife Marita decided to purchase at Candela Ivanhoe, the under-construction new apartment development by Salter Brothers in the heart of the north-eastern M​elb​ourne​ suburb. ​

"We've lived here before… everything is here," Chris said.

"Our doctor is around the corner, there's dentists, pilates, everything we need, restaurants, fast food places, two train stations, Ivanhoe and Darebin, both in walking distance. You don't need anything else."

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Just 10 kilometres from Melbo​urn​e's CBD, Ivanhoe combines direct city connectivity with the amenity of an established village community. Residents have access to highly regarded schools, expansive parklands, public transport, and a thriving retail and hospitality precinct centred around Upper Heidelberg Road, all within a neighbourhood that has retained its leafy character despite its proximity to the city.

<a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a> sits within the heart of this established landscape, positioned just moments from Ivanhoe Village and within walking distance of many of the suburb's most sought-after amenities.

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From Candela, residents can access cafés, grocers, wine bars, restaurants and essential services on foot, while Ivanhoe Station and Darebin Station provide direct connectivity across Mel​bour​ne. The development is also surrounded by some of the suburb's best-known lifestyle destinations, including Pinkie, Laurent, Enni, Docasa and Woodfire Pizza e Cucina, alongside Ivanhoe Plaza, Woolworths, pharmacies and specialty retailers.

Green space is another defining feature of the suburb. Darebin Parklands, Ivanhoe Park, Nellie Ibbot Park and the Yarra River trail network provide extensive opportunities for recreation, while Ivanhoe Golf Course and Ivanhoe Tennis Club continue to underpin the area's long-established lifestyle appeal.

The suburb's education offering further strengthens demand. Ivanhoe Grammar School, Ivanhoe Girls' Grammar School, Mary Immaculate Primary School and Ivanhoe Primary School have helped establish the area as one of Melbou​​rne's most sought-after schooling precincts, attracting families and downsizers alike who want to remain connected to the area.

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While location was the priority for Marita and Chris, the project itself also needed to meet their expectations.

"Whilst location was paramount, I was also looking at design of the environment and Candela ticked every box," Marita said.

"We're just thrilled with our choice."

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Developed by <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>, Candela Ivanhoe has been designed to complement its village setting, with an emphasis on generous floorplans, natural light and practical everyday living.

Residents will have access to a range of shared amenities, including a communal rooftop garden and dedicated residential lounge, complemented by a ground-floor café and lifestyle wellbeing centre, helping foster the sense of community already emerging among future owners.

That approach has resonated strongly with the market. More than 90 per cent of purchasers at Candela Ivanhoe are owner-occupiers, with buyers ranging from downsizers and second-home buyers to young families and first home buyers, creating a genuinely multi-generational community of grandparents, parents and children. It reflects a broader shift across Melbo​​urne's apartment market, where buyers are increasingly prioritising neighbourhood quality, lifestyle amenity and long-term liveability.

Currently under construction by Ironside, Candela Ivanhoe comprises 58 apartments. Candela Ivanhoe is scheduled for completion in the coming months, and residents can move in from September. One to four bedroom residences, prices from $649,000 and limited opportunities remaining.

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Staff reporter

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