Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Joel Robinson

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

<html><body>
With Australian Property Monitors weekend clearance rate for Sydney topping 80% for the fifth week in a row, the auction market is strong. 
Observer Pete Wargent says that the exact colour description of the market may be a point for conjecture, but concludes <a target="_blank" href="https://www.propertyobserver.com.au/residential/sydney-s-residential-market-is-hot-glowing-red-hot-or-white-hot-pete-wargent/2013081264097">the market is hot</a>.
{module Would you describe the Sydney residential auction market as hot?}
Pete Wargent goes on to say "in Sydney expect property prices to break new record highs over the coming quarter." </body></html>

po-LsXgBTHBmX

Would you describe the Sydney residential auction market as hot?

<html><body>
The Sydney property market is running the full spectrum of heat according to Australian Property Monitors.
Not only are "low interest rates clearly fuelling a red hot market", the recent cut in rates "will continue to fuel a white hot Sydney winter" market as well.
Confused? Yeah, me too.
Basically, APM is saying that the market is hot - but the colour of the heat seems to remain a matter of conjecture at this time.
We probably need a heat colour scale index or something.
But how hot can the market get? It's a fair question.
Auction clearance rates hitting 84% is red hot, no question.
Or white hot.
OK, let's not get bogged down in the actual colour of the heat. 84% is a hot market.
When you look at an unemployment rate of 5.7% and commentators are trying to infer that we've almost never had it so bad, it's worth remembering that when the unemployment rate falls to 5% or below, that is considered to be close to full employment.
The unemployment rate can never go close to 0% because there will always be frictional unemployment, seasonal unemployment and a certain%age of the population that will remain unemployable.
In a similar vein, auction clearance rates are very unlikely to hit 100% across a city on any given weekend - there will likely always be properties that are passed in as vendors seek to maximise their settlement price or fail to sell for other reasons.
That said, in the white (or red) hot sectors of the market such as Sydney's inner west, clearance rates have been hitting at around 90% and the market is clearly booming.
It's about as far removed from the inevitable housing bust predictions as it is possible to be.
Heck, even the central coast is starting to record good figures, so the Sydney market must be red (or white) hot.
Perhaps predictably, Dr. Andrew Wilson of Australian Property Monitors didn't miss a beat in taking the opportunity to stick the boot in: "I notice everybody is now getting on the housing market recovery bandwagon. Bit late fellas - don't lose your day jobs!"
Wilson took time out to take a quick side-swipe at Westpac too: "House price growth strong in July? Yet Westpac's sentiment index fell. Go figure. Guess index not a guide to house prices (lol)".
In summary, in Sydney expect property prices to break new record highs over the coming quarter.
Here's the useful stuff from APM's market wrap:
"Sydney recorded a stunning 83.8% auction clearance rate at the weekend with the mid-winter market continuing to accelerate at record levels of buyer activity despite a surge in listings. 
This weekend’s result was the highest recorded for the year and the fifth consecutive weekend with clearance rates above 80%. Sydney’s weekend auction market is currently tracking its highest ever clearance rates with low interest rates clearly fuelling a red hot market. 
And record clearance rates are being recorded despite a surge in listings with the number of auctions in Sydney 32.2% higher than the number listed over the first two weeks of August last year. The best regional auction result in Sydney this weekend was recorded by the south with an auction clearance rate of 90%. 
This was followed closely by inner west with 89%, the central coast with 86% and the west with an 83% clearance rate. 
The decision by the Reserve Bank last week to cut interest rates will continue to fuel a white hot Sydney winter auction market now tracking at record levels of buyer activity. 
Strong prices growth will certainly follow as indicated by the latest ABS data reporting that Sydney house prices increased by 2.7% over the June quarter – an identical result to the APM Sydney data released two weeks ago."
Pete Wargent holds a range of finance and property qualifications and is the author of <a href="https://petewargent.blogspot.com.au/" rel="nofollow" target="_blank">Get a Financial Grip – a simple plan for financial fr</a><a href="https://petewargent.blogspot.com.au/" rel="nofollow" target="_blank">eedom.</a>
 
</body></html>

pwargent-M4siyDbqQY

Sydney's residential market is hot - glowing red hot or white hot: Pete Wargent

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There's been a slight tightening in Melbourne’s vacancy rate from 3.4% in June to 3.2% in July, but it was accompanied by a significant increase in landlords with vacant inner suburb property.
The Melbourne inner city vacancy rate jumped from 3.3% to 3.7%.
The vacancy rate for the middle suburbs declined from 3.6% to 3%.
The outer suburbs vacancy rate fell from 2.9% to 1.9%.
There have been major recent fluctuations in the inner city vacancy which tightened from 4.4% in April to 3.9% in May, then down to 3.3% in June.
In June 2012 the inner city vacancy rate was 1.9% real which rose to 2.3% in July 2012.
The vacancy rate in regional Victoria tightened further from 3.7% to 3.4% with declines in all three key regional centres.
Ballarat recorded the largest reduction in the vacancy rate from 4% to 2.9%.
The vacancy rate fell in Bendigo from 3.1% to 2.5%.
Geelong's vacancy rate fell from 5.5% to 5.2%.
"This tightening in the vacancy rate led to the weekly regional house rents increasing from $295 to $300 and for regional units from $228 to $250," the REIV said.
 
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Melbourne's inner city vacancy rate jumps from 3.3% to 3.7%: REIV

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Residential building is one of the few sectors in a position to generate substantial economic activity in the wake of the mining boom.
New home building has a significant multiplier effect that drives activity throughout the wider economy.
Modelling demonstrates that for a 1% productivity increase in new home building - through cutting red tape or modernising the taxation system for example - the wider economy will benefit by around $1 billion.
Australia is currently building around 25,000 homes per year less than a decade ago, which is not only putting the brakes on job creation in the sector, but placing upward pressure on housing prices.
Housing affordability is consistently being nominated as one of the top few issues on the minds of voters, and there is clearly a great deal of angst amongst Australians about how the current and future generations will be able to afford a home.
HIA says that key areas for policy action to promote a revival in new home building include:
<ul>
<li>
Reform the taxation system, including the removal of inefficient taxes on new housing
</li>
<li>
Reduction of the red and green tape burden that is choking small business
</li>
<li>
Improved funding mechanisms for residential related infrastructure
</li>
<li>
Better access to finance for home buyers and builders
</li>
<li>
Modernisation of the industrial relations system
</li>
</ul>
Any party or candidate that goes into the federal election without a significant housing platform in their policy list is ignoring a key part of the economy and the concerns of millions of Australians.
Shane Goodwin is the Managing Director of the <a href="https://hia.com.au/" target="_blank">Housing  Industry Association</a>.
 
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Housing platforms should be a key policy issue for this election

Milliner Steve Harrison and his partner, IT specialist&nbsp;William McCosker have secured $1,525,000 for the&nbsp;Ridge Street, Surry Hills terrace through&nbsp;Spencer &amp; Servi First National.&nbsp;

It was&nbsp;the priciest of the suburb&#39;s sales - and with <a href="https://www.propertyobserver.com.au/hotspots/surry-hills-tops-the-12-sydney-weekend-auction-hotspot-suburbs/2013081164080?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus" target="_blank">all six Surry Hills offerings&nbsp;sold&nbsp;</a>it was Sydney&#39;s weekend auction hotspot.

The three-bedroom Victorian property&nbsp;has been an investment since they&nbsp;moved to Britain, where Harrison has his&nbsp;sculptured hat business.

Its been renovated since&nbsp;bought in 1993 for $220,000.

The three bedroom terrace&nbsp;was listed with&nbsp;$1.35 million plus hopes, then with revised $1.4 million plus hopes&nbsp;through Natalie Muzica of&nbsp;Spencer &amp; Servi First National. It sold after its first open for inspection, well ahead of its scheduled August 10 weekend auction.

It was available for rent at $770 a week in 2006.

RP Data has the median house price as <a href="/news">$922,500</a>, up 2.5% over the past year and 13.2% over the past five years.

London expat milliner sells in Surry Hills

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Over recent months I have heard lots of commentary about the expected slowdown in the housing market in the lead-up to a Federal election. 
This week I have looked at the five past elections and analysed the performance of the housing market over the 12 months prior to the election in terms of capital city home value growth and national house and unit sales.
It is important to remember that the housing market is seasonal so the time of year of the election is likely to play an impact however, the 12 months’ worth of data does show the trend in the lead-up to an election.
The five most recent federal elections have been: 3 October 1998 (Coalition win), 10 November 2001 (Coalition win), 9 October 2004 (Coalition win), 24 November 2007 (Labor win) and 21 August 2010 (hung parliament but Labor take power).
Looking specifically at the change in home values over the 12 months leading up to the federal elections you can see that in each instance home values have increased.  Over the 12 months to July 2013, capital city home values have risen by 4.9% so it looks almost certain that home values will increase over the year leading up to the September federal election.
<a style="margin: 0px; padding: 0px; border: 0px; outline-width: 0px; vertical-align: baseline; background-color: transparent; color: #bf0000; text-decoration: none;" href="https://blog.rpdata.com/wp-content/uploads/2013/08/home-values-small.jpg" rel="wp-prettyPhoto[g2262]"><img style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" class="aligncenter size-full wp-image-2263" alt="home values small" src="https://blog.rpdata.com/wp-content/uploads/2013/08/home-values-small.jpg" width="470" height="169"></a>  
The strongest annual increase in home values leading up to a federal election was in 2001, with values rising by 18.8% followed by the 2007 election where values rose by 13.2%.  Over both of these periods the housing market was already in an upswing.  On the other hand, values rose by 5.7% in the lead-up to the 1998 election, 2.8% in 2004 and 8.8% in 2010.
If we look at the change over the year in national home sales, the results are somewhat different building up to election. 
The most up-to-date sales information indicates that sales to May 2013 were 19.0% higher and with interest rates moving lower more recently; sales appear likely to pick-up further over the year in the lead-up to the September election.
<a style="margin: 0px; padding: 0px; border: 0px; outline-width: 0px; vertical-align: baseline; background-color: transparent; color: #bf0000; text-decoration: none;" href="https://blog.rpdata.com/wp-content/uploads/2013/08/home-sales-small.jpg" rel="wp-prettyPhoto[g2262]"><img style="margin: 0px auto 15px; padding: 3px; border: 1px solid #e6e6e6; outline-width: 0px; background-color: rgba(255, 255, 255, 0.701961); max-width: 100%; text-align: center; height: auto; display: block; vertical-align: bottom;" class="aligncenter size-full wp-image-2264" alt="home sales small" src="https://blog.rpdata.com/wp-content/uploads/2013/08/home-sales-small.jpg" width="470" height="171"></a>  
The number of home sales was higher over the year leading up to the 2001 and the 2007 elections.  In 2001, sales volumes increased by 44.6% over the year and in 2007 they rose by 33.3%.  In 1998, sales volumes fell by -2.6% over the year, in 2004 they fell by -11.0% and in 2010 they fell by -32.4%.
So over the past five election campaigns home values have risen while in only two of the past five campaigns have home values and sales volumes risen.  Values and volumes rose in 2001 when the Coalition was returned for a second term and they also both rose in 2007 when Labor took office from John Howard.
How much the trends outlined above can be attributed to an election is debateable.  Arguably the momentum of the market cycle is influencing the trends just as much as the election.  Regardless of the cause, it looks like federal elections don’t have a slowdown effect on housing market conditions.
The cynic in me suggests that the incumbent political party would generally be quite happy to see sales volumes and home values rising in the lead-up to an election. 
For most people the family home is the single largest investment and rightly or wrongly, Australians tend to feel more confident and happy when home values are rising. 
From a political stand point, around 70% of households either own their home outright or have a mortgage and rising home values is likely to be a much more palatable message to the electorate than one where the value of their largest asset is falling. 
It also suggests to me that housing affordability will remain only a minor election issue given such a large proportion of the population either own or are paying off their own home and many also have investment properties.
Cameron Kusher is senior research analyst at <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data</a>.
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What effect does the federal election really have on the property market?: Cameron Kusher

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Melbourne vendors notched up a clearance rate of 76% compared to 72% last weekend and 56% on the same weekend last year.
Houses outperformed apartments with a 78% success rate for houses - at an $795,000 median - compared with the 71% clearance rate for units that had a $542,500 median price.
The Jellis Craig eastern suburbs group recorded its best auction results in several years selling 38 from 42 properties, noting pent-up demand and buyer confidence.
Their sales included the weekend's top seller, the 1887 John Beswicke-designed mansion, <a target="_blank" href="https://www.jelliscraig.com.au/property/CAMBERWELL-3-Fermanagh-Road/5810341/">Langi</a> (pictured below).
{yoogallery src=[images/stories/2013/08/aug12cam]}
The Italianate Victorian mansion had been extensively renovated and restored by the vendors, former SANFL premiership player Rob Tardif and his wife, Julie Russell, who have retired from senior management positions at Origin Energy.
Property Observer recalls it sold for $805,000 in 1997. The grand home was as a girls' music school in the late 1800s, and later used as a base for the Australian Army during the Second World War.
The TOP 5 HOUSE SALES 1. 3 Fermanagh Road, Camberwell $4,700,000 post-auction 2. 3 Monash Avenue, Balwyn $3,160,000 3. 9 Lindsay Street, Brighton $2,725,000 4. 66 Wilson Street, Yarraville $2,616,000 5. 13 Bethune Street, Hawthorn East $2,560,000
The TOP 5 APARTMENT SALES 1. 701/3-7 Alma Road, St Kilda $1,410,000 2. 62 Hunter Street, Richmond $1,296,000 3. 306/65 Beach Street, Port Melbourne $1,210,000 4. 401/88 Beach Street, Port Melbourne $1,100,000 5. 4/3 St Georges Road, Toorak $1,080,000
The 5 CHEAPEST HOUSES 1. 52 Riggall Street, Broadmeadows $266,000 2. 7 Howitt Crescent, Sunshine West $310,000 3. 1 Begg Avenue, Truganina $327,500 4. 14 Getaway Drive, Doreen $342,500 5. 120 Community Hub, Hillside $360,000
The 5 CHEAPEST APARTMENTS 1. 8/20 Strathearn Avenue, Murrumbeena $244,500 2. 14/171 Kent Street, Ascot Vale $250,000 3. 5/50 Carlisle Street, St Kilda $254,000 4. 7/21 Cohuna Street, Brunswick West $260,000 5. 1/37 Nepean Highway, Elsternwick $268,000
Source: REIV 
Dr Andrew Wilson, senior economist at Fairfax-owned Australian Property Monitors, said the Melbourne market was in a ''catch-up scenario rather than moving ahead''.
He said Melbourne's top-end market was about 10% its previous price peaks.
<div class="ad adCentred" id="adspot-300x250-pos-3">''If the top of the market is further behind its previous peaks than the middle market, it makes sense to upgrade,'' he told Fairfax Media.</div>
The $1 million plus house market had possibly stopped its very strong march northwards, according to Melbourne buyers agent, Mal James.
His buyers agency James Buyer Advocates sensed bidder numbers at $1 million plus auctions in inner Melbourne and the bayside suburbs took a bit of a dip on the weekend.
They noted the average number of bidders per auction sat at 1.7, down from more than two typically seen since June. 


"We don't think it's so much because buyers are nervous, but because they have twigged that vendors are holding back their listings until after the election," buyers agent Mal James saud.
"They're saying 'I'll take my chances to wait and see what stock shows up in late September and early October'.


"Right now it is proving a little hard to work through exactly where individual properties are going to end up.
He suggested the fever pitch activity of June and before had waned.
"However there is nothing consistent," he said.
James pinpointed the sale of 49 Holyrood Street, Hampton, a family home on a 920 square metre block of land, as a strong price with six bidders taking the price to $1,795,000.


"But there have also been some surprise disappointments, such as the pass in result for 155  Clarke Street Northcote, a picture postcard Victorian home with a great city view on Ruckers Hill  that was passed in following the sole vendor bid of $1,850,000."
'The market has very much turned into a steady-as-she-goes one.
"We think that for now prices have stopped the very strong march northwards we were seeing just two months ago.
"Not that there has been a big shift in the market, but the market has moved from dynamic to steady. 


"Given that three out of the next four weeks will have less than 100 $1 million plus auctions in Bayside and Inner East, it really won’t be until the end of September before we will be able to say with certainty whether this year’s Spring market is noticeably different from what was a very strong Melbourne Autumn market," he said.
There were 548 auctions reported to the REIV this weekend, with 414 selling and 134 being passed in, 71 of those on a vendor bid.
Next weekend the REIV expects around 620 auctions.
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Melbourne's weekend $1 million plus market steadies as upgrader buyers await a plentiful spring

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At near peak levels, Sydney managed an 83.8% weekend auction clearance rate, according to Australian Property Monitors (APM), the fifth consecutive weekend with a preliminary 80% plus outcome.
The result came from bumper stock levels of around 399 offerings, which was well up on the lowest winter weekend this year of 280 auctions on a Saturday in early July.
It's still early days on the full tally as the initial APM advisory tallied 277 results, with another 122 auction outcomes yet to be advised by the listing agents. Leading Sydney auctioneers, Cooley Auctions reported a clearance rate of 71% with the sale of 40 of their 56 auctions, suggesting a revision might be in the offing. <a data-query-source="hashtag_click" href="https://www.propertyobserver.com.au/search?q=%23auctions&amp;src=hash" class="twitter-hashtag pretty-link js-nav" dir="ltr"></a>
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/sanssouci/properties/290658">Sabiha, a Sandringham stunner</a> (pictured below), with lighthouse-like tower with a 360 glass-encased view of Botany Bay, was the weekend's top reported seller at $3.2 million. Designed by architect Renaldo Gaiety, the five bedroom home sold through Raine &amp; Horne Sans Souci.
{yoogallery src=[images/stories/2013/08/aug12sand]}
Blacktown in Sydney's west, the inner city Surry Hills and Balmain in the inner west all had six auctions followed by Ryde, Leichhardt, Marrickville and Bella Vista all with five offerings. APM noted three Blacktown sales, with three results unadvised.
<a target="_blank" href="https://www.propertyobserver.com.au/hotspots/surry-hills-tops-the-12-sydney-weekend-auction-hotspot-suburbs/2013081164080?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus">All six Surry Hills offerings were sold </a>with prices ranging between $525,000 for a two bedroom Goodlet Street unit to $1,525,000 for a three bedroom terrace at 42 Ridge Street which sold pre-auction. More than $450,000, then upwards to $475,000 plus was being sought for the 20/2 Goodlet Street unit in the block where the last two bedder offered sold earlier this year at $522,000. More than $1.35 million was being tipped initially for <a target="_blank" href="https://www.propertyobserver.com.au/residential/london-expat-milliner-sells-in-surry-hills/2013081163352">the Ridge Street offering</a>.
All five Leichhardt results were advised with four sales priced between $770,000 for 2 Bungay Street to $850,000 for 30 Allen Street. 
There were four sales among the four notified Balmain sales including 100 Curtis Road which fetched $1,435,000, up on its $1.3 million Cobden &amp; Hayson reserve price. 
"Sydney records an astonishing 83.6% (sic) clearance rate this weekend nearing all time record. How hot can this market get?," APM's senior economist Dr Andrew Wilson tweeted.
The upper north real estate market topped the weekend listings at 73 listings, according to Australian Property Monitors. Its sales included two in Cheltenham at $1.16 million and $1.17 million. 
The normal Saturday hive of activity, the inner west had 66 auctions followed by Sydney’s south with 36, the west with 34 and the city and east with 33 auctions.
There was an $896,000 median house price and a $640,000 median unit price from the weekend sales.
Pre-auction sales were at very high levels including landscaper William Dangar's house at Bondi Beach which sold through the GoodyerDonnelley estate agency.
<a target="_blank" href="https://www.propertyobserver.com.au/residential/landscaper-will-dangar-secures-strong-bondi-beach-price-well-ahead-of-the-spring-season/2013080163821">William Dangar, one of Australia’s leading landscape designers, and his wife Julia</a>, were expecting to sell for $1.6 million plus and secured $1.7 million.
Some 49 of the notified sales - around 20% - were sold pre-auction suggesting vendors were comfortable with the offers. Over expectation prices aren't necessarily the rationale behind pre-auction results as witnessed when $630,000 was accepted pre-auction for a three bedroom Castle Hill townhouse which had been listed with $650,000 plus hopes.
Seller activity Sydney rose sharply this July compared to July last year as vendors unsurprisingly decided to take advantage of the strongest winter housing market experienced on record.
Australian Property Monitors data showed a 75.9% July success rate - the highest July ever – and the second-highest ever recorded for any month, apart from April 2002 which was 78.3%, APM senior economist Andrew Wilson noted.
Including mid-week auctions the most popular region for auction listings in Sydney over July was the city and east with 315 followed by the inner west with 270 and the upper north shore with 206, according to APM's Dr Andrew Wilson.
He noted seller activity Sydney rose sharply this July compared to July last year as vendors "unsurprisingly" decided to take advantage of the strongest winter housing market experienced on record.
Sydney July auction listings were up 16.5% over the year to 1577 compared to last July’s 1344 listings.
The biggest rise in listings came from the south, the lower north, the inner west and the northern beaches suburban regions.
The south had an increase over July of last year of 48%, with the lower north up 34%, the inner west 30% and the northern beaches up 25%.
Dr Wilson noted seller activity continues to increase with auction listings up by 32% over the first two weeks of August compared to the same period last year.
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Sydney auctions in 80% plus overdrive for fifth consecutive weekend

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Melbourne based Evolve Development today celebrated their 10th anniversary by officially opening their latest development The Guilfoyle on Coventry Street, Southbank.
Planning minister Matthew Guy officially launched the $190 million development, which is completely sold out.
Located at 39 Coventry Street, The Guilfoyle was built on the former site of Channel 7 and features 355 apartments over 20 levels.
One-bedroom apartments were priced from $327,000 and two-bedroom apartments were priced from $560,000.
It was named after William Guilfoyle, the botanist and landscape gardener behind the Royal Botanic Gardens.
Designed by SJB Architects, the building features sculptured interlocking forms and textured lattice along the western façade to capture sunlight and create changing colours and patterns.
<img src="/images/stories/2013/08/southbank-aug-14-one.jpg" width="470" height="495" alt="southbank-aug-14-one">
Residents will have access to a residents lounge with a kitchen and big screen, as well as a 20-metre indoor pool, gymnasium and a landscaped indoor/outdoor area.
“Evolve has a deep commitment to high quality developments such as The Guilfoyle that creates architecturally significant and enjoyable living spaces,” says Evolve Development managing director Ashley Williams.
“The Evolve team has a deep passion for creating unique developments in Melbourne, and for The Guilfoyle we focused our skill and insights, with our development partner ISPT Super Property, to provide high quality inner city living to enrich the Melbourne experience, benefit our residents and support investors,” says Williams.
This year marks 10 years since Ashley Williams approached chairman Ronald Walker to start Evolve.
Their first development was Mulgrave Business Park.
“We began with a rundown business park and transformed it into a modern office and warehouse complex, moving into boutique residential apartments and estates in key growth corridors,” says Williams.
The event was also attended by Jim Guilfoyle, the great-great-great grandson of William Guilfoyle.
The median apartment price in <a href="/news">Southbank</a> is $535,000, an 11.9% change in the past five years, according to RP Data.
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The sold out Guilfoyle tower in Southbank blooms at launch 

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The US-based Reading Cinema chain is yet to sell the former 1.34 hectare Moonee Ponds market site which has been a car park since bought 15 years ago.
It was bought with the hope of becoming a landmark entertainment complex. Reading has concept plans, but no permit, for a $250 million mixed-use development with three apartment towers, the tallest at 26 levels.
With six street frontages the site is tipped to sell for about $20 million plus through <a href="https://rca.colliers.com.au/property-land+development-vic-moonee+ponds-500716083" target="_blank">Colliers International</a>'s<a href="https://rca.colliers.com.au/property-land+development-vic-moonee+ponds-500716083" target="_blank"> </a>Peter Bremner and Jeremy Gruzewski inconjunction with CBRE's Justin Clarkson, Scott Orchard and Ari Petrovs.
Expressions of interest closed July 11, with interest coming from Moonee Valley Council among other parties who are still undertaking their due diligence.
The land was permitted in 1997 to become a 12-screen cinema complex which rival Hoyts went to VCAT to prevent being built.
Last August, after not receiving any formal building application, the Moonee Valley Council demanded Reading sell the site.
The suburb ranks in the former state government's Melbourne 2030 planning policy as an activity centre.
Reading bought the market from Adamco, a developer since rebranded Hallmarc.
At the time the New York-based Reading was planning to build 50 screens in centres that include the Gold Coast and Dubbo. Reading was then a niche player in the US, with 50 screens in Puerto Rico, 20 in New York and eight in Houston.
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