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>
Fairfax Media are reporting Julia Gillard is set to return to Adelaide to be closer to her ageing mother, Moira, and her sister, Alison.
She is currently living in her Altona house in the south-western Melbourne electorate of Lalor after she moved out of The Lodge after being deposed from the top job.
Ms Gillard declined to provide any comment for the Fairfax article.
But Fairfax's chief political correspondent <a href="https://twitter.com/search/users?q=mark%20kenny" target="_blank">Mark Kenny</a>, who hasn't tweeted since he joined Fairfax from The Adelaide Advertiser, wrote he understood the interstate shift was not imminent, with Julia Gillard and partner Tim Mathieson planning to move after the election.
<div style="color: #333333; font-family: 'Helvetica Neue', Arial, sans-serif; font-size: 14px; line-height: 18px;" class="stream-item-header">
<a style="color: #999999; text-decoration: none;" data-user-id="42562661" href="https://twitter.com/theagebreaking" class="account-group js-account-group js-action-profile js-user-profile-link js-nav"> </a><a href="https://twitter.com/theagebreaking" target="_blank" style="font-family: Georgia, Utopia, Palatino, 'Palatino Linotype', serif; font-size: 0.8em;"><img alt="tweetofthedayjuly18one" height="61" width="470" src="/images/stories/2013/07/tweetofthedayjuly18one.jpg"></a>
</div>
Its speculated Julia Gillard with take up an international role, as well as write a book for Penguin Publishing.
Her Altona house is a three-bedroom brick-and-tile home which cost $140,000 in 1998 - slightly less than Altona's then $155,000 median price.
RP Data puts <a target="_blank" href="/news">Altona's median</a> currently at $545,000, thereby suggesting Julia Gillard's home likely to be sitting just below, unless she bought very well or undertook huge improvements.
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Julia Gillard set to move back to Adelaide, but not leave Altona imminently 

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The growing number of people choosing to downsize and reside in inner city apartments is a well-established trend that has been happening in international cities for quite some time.
In Sydney this trend has taken a couple of decades to surface, with large-scale building of major high-rise developments in the inner city only starting in the early 1990s.
In recent years, however, our most inner city area – spanning from The Rocks – Woolloomooloo has undergone a cosmopolitan makeover and new property developments have attracted an influx of diverse, wealthier residents who are embracing the perks of city living.
Most of the time these new developments offer spectacular views, have 5-star facilities that require no maintenance, and are located just minutes from work, fantastic restaurants, great shopping, entertainment, numerous transport options and everything else Sydney has to offer.
The shift toward apartment living in Australia, particularly in the capital cities, has been highlighted in recent ABS numbers.
Furthermore, stand-alone housing approvals are at recessionary levels, while apartment approvals are at an all-time high.
There are many factors contributing to the rise in inner city living.
A growing number of Sydney-siders are shying away from the great Aussie dream of a home with a backyard and a pool, in favour of an inner city pad.
Empty nesters are growing tired of maintaining large homes once their children have moved out, and many people are abandoning the long daily commute to be close to work, and adore the vitality, convenience and cosmopolitan vibe that the inner city offers.
This property trend is likely to continue as the population ages and we are already experiencing a surge in demand for 1-2 bedroom apartments in convenient locations.
With this amazing city maturing every year, conditions are ripe with rental demand being driven up by these affluent, corporate executives attracted to the lifestyle that accompaniesinner city apartment living.
I predict median property prices in Sydney will rise by around 2-3% in 2013; and over the next few years, I expect our fabulous city to become more and more like other mature international cities including London and New York where apartment living continues to thrive.
Carlie Ziri is the director of <a target="_blank" href="https://www.lifestylepropertyagency.com/" rel="nofollow">Lifestyle Property Agency.</a>
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Median property prices in Sydney will rise by around 2% to 3% in 2013: Carlie Ziri

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After months of uncertainty the 2012/2013 financial year ended on a high note.

Low interest rates, a shortage of stock and an abundance of buyers have seen property prices rising across Sydney. Upgraders as well as investors are currently keen buyers at auctions driving clearance rates well above 70 per cent.
We have seen a definite increase in interest in the market below $2 million whilst the upper end has also shown some surges of improvement.
In the Eastern suburbs this was helped by investors from Asia, in particular China.
These buyers have shown interest in prestige property due to the more affordable Australian dollar and the new significant investor visa, which fast-tracks migrant visas for foreigners who invest more than $5 million in approved investments.
But let’s take a minute and look back at our last review.
At the beginning of 2012/2013 we were cautious about the year ahead, in particular the growth and turnover of property in our market.
This caution seems to have been well founded, when we look at the big picture that the year represented.
We were surprised to experience a remarkable and steady increase in foreign buyers that was surely influenced positively by the drop in the Australian dollar.
An Australian dollar below parity with the US dollar has now become a reality. This is definitely having a positive impact on sales, particularly at the top end of the market.
At this top end of the market Ray White Double Bay sold four properties to Asian families in May, with two of them purchasing without actually having seen the house.
These buyers relied on our 90-second property videos that can be viewed online and only sent either family members or local lawyers to inspect and act on their behalf.
The most expensive of those sales was 30 Victoria Road, Bellevue Hill, which sold under the hammer for $7,300,000.
But despite an absence at the site these buyers still executed full due-diligence with building inspections and valuations playing a very strong part in the process.
Overall the estimates for the new financial year are promising: property experts predict a rise of more than 20 per cent in revenue from residential sales for the next financial year totalling almost $5 billion.  Buyers have more confidence in making a decision on their next home or investment due to
<ul>
<li>the steady growth in rents</li>
<li>less volatile movements in the market in comparison to the stock market</li>
</ul>
And there is no doubt that there is a lot of money sitting on the side line at the moment and people are just pondering which way to turn…
At Ray White Double Bay we believe that the coming 6 months and in particular the period leading up to the election will be a premier time to sell. A potential new government will bring new aspects and changes in taxes and costs and as we say in real estate: “Many will sell on rumour".
Michael Finger is the selling principle for <a href="https://www.raywhite.com/michael-finger/real-estate-agent/michael.finger/" target="_blank">Ray White Double Bay</a>.
 
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Sydney eastern suburb property ended the financial year on a high: Michael Finger 

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I was surprised to learn that reputable buyers agents are still promoting the idea that property prices will appreciate at 10% per annum at their seminars and home-buying shows.
We’ve come to expect nothing less from property ‘clubs’, of course, as they tend to be somewhat evangelical in their approach, promoting property as a magical risk-free asset class which always goes up 10% per annum.
And besides, it seems that sometimes people almost want to hear that prices will boom interminably – they find the phrase “property always goes up” soothing to the ears.
The tired old phrase “property goes up 10% per annum” was spawned from the days when inflation was very high, and the cost of almost everything was going up rapidly.
And then a combination of factors including plummeting interest rates, deregulation of lending standards and a boom in the number of two income households allowed rapid price growth to continue through the 1990s and beyond.
Over the past decade, while some parts of Australia have forged ahead with very rapid price growth, others have by and large tracked the growth in household incomes.
If we take a look at the today’s economy, we find that:
-Inflation is currently tracking at 2.5%, which is comfortably in the middle of the target 2-3% range;
-Interest rates are sitting at 2.75%, which is way lower than the double digit rates which were seen two decades ago – so these cannot fall much further; and
-wages are growing at 3.2%.
The speed limit for the price growth of property is ultimately our ability to pay for it. So unless you have an IQ which is diminishing at 10% per annum, you can see quite clearly that long-term property price growth of 10% per annum will not eventuate.
 
<hr class="system-pagebreak">
Let’s be generous and say that household income growth in the future continues to grow in perpetuity at 4% per annum.
And let’s take the example of a capital city suburb where a dwelling costs $500,000 and household incomes are around $100,000 (these aren’t the national averages, but its a reasonable enough representation for the purposes of this exercise).
Here is how the incomes, dwelling prices and the dwelling price to income ratios would pan out over the years if prices grow at 10% per annum:
<table cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="73" valign="top">
Year
</td>
<td width="132" valign="top">
Household income
</td>
<td width="113" valign="top">
Property price
</td>
<td width="151" valign="top">
Price/income ratio
</td>
</tr>
<tr>
<td width="73" valign="top">
0
</td>
<td width="132" valign="top">
$100,000
</td>
<td width="113" valign="top">
$500,000
</td>
<td width="151" valign="top">
5
</td>
</tr>
<tr>
<td width="73" valign="top">
10
</td>
<td width="132" valign="top">
$148,024
</td>
<td width="113" valign="top">
$1,296,871
</td>
<td width="151" valign="top">
9
</td>
</tr>
<tr>
<td width="73" valign="top">
20
</td>
<td width="132" valign="top">
$219,112
</td>
<td width="113" valign="top">
$3,363,750
</td>
<td width="151" valign="top">
15
</td>
</tr>
<tr>
<td width="73" valign="top">
30
</td>
<td width="132" valign="top">
$324,340
</td>
<td width="113" valign="top">
$8,724,701
</td>
<td width="151" valign="top">
27
</td>
</tr>
<tr>
<td width="73" valign="top">
40
</td>
<td width="132" valign="top">
$480,102
</td>
<td width="113" valign="top">
$22,629,628
</td>
<td width="151" valign="top">
47
</td>
</tr>
<tr>
<td width="73" valign="top">
50
</td>
<td width="132" valign="top">
$710,668
</td>
<td width="113" valign="top">
$58,695,426
</td>
<td width="151" valign="top">
83
</td>
</tr>
</tbody></table>
As you can see, it is a nonsense.
A dwelling will not cost $58 million in 50 years time and prices most certainly won’t reach 83 times incomes.
So if a buyers agent tells you that property prices will continue to go up at 10% per annum, they either aren’t very clever, in which case you probably shouldn’t hire them, or they are lying to you, in which case you definitely shouldn’t hire them.  
It’s pretty obvious that this kind of price growth isn’t going to eventuate absent a return to rampant inflation.  
10% growth didn’t happen in 2011 and nor did it occur in 2012. And even in the past 12 months with interest rates now at record lows, none of the major capital cities has achieved 10% growth.
Of course, it’s a possibility in any given year, but even if we allowed the introduction of Singapore-style 40 year mortgages and abandoned all pretence of macroprudential restrictions, it’s still a huge call to say that it could continue for long.
 
<hr class="system-pagebreak">
Naturally enough markets don’t tend to move smoothly, Instead they jump ahead before falling back, and this happens in cycles.
In Britain I recall prices storming along at double digit levels for year after year until Gordon Ramsay sounded the death knell.
Gordon Ramsay, you ask? I’m serious!
There’s often a point in bull markets when "taxi drivers and shoe-shine boys" (in other words, every man and his dog) start to talk up the asset class as a sure thing, and in his 2007 book, Humble Pie, Michelin-starred chef Gordon Ramsay said that when young chefs came to him for advice he told them to buy a property to live in and then invest in more property.
Cue the property crash.
In most areas outside London, prices are still behind where they were in 2007, so the “10% per annum growth” theory doesn’t seem to quite tally in the UK.
In Ireland, it wasn’t a chef who sounded the death knell, it was some other comedian.
Again, I’m serious!
In July 2007, Irish independent journalist and comedian Brendan O’Connor urged people to buy property, even though there was clear evidence that the huge price appreciation of the preceding years was in the process of bursting.
Cue the property meltdown.
Does this mean I am bearish on Australian property? No. We did have a moderate downturn through 2011 and 2012, which on balance was a good thing for our markets.
But lower interest rates have reduced the repayment levels on new and existing mortgages, the markets have stabilised and capital cities are showing moderate growth.
We’ve avoided recession, to date at least, with a GDP growth of 2.6% and unemployment has remained low at around 5.5%.
There will be very challenging times ahead no doubt as the mining construction boom tapers off, but monetary policy can stimulate other sectors of the economy and with Australian population growth surging to a crunching 392,500 persons per annum, it’s my contention that property investors who are smart and stick to quality properties in supply-constrained capital city suburbs will do well over the longer term.
But property price growth of 10% per annum? Send for the men in white coats!
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>
 
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The old phrase “property goes up 10% per annum” is a myth: Pete Wargent

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Perhaps I have been watching a little ‘too’ much 'American Horror Story' lately.
As unrelated to Australian property investment as this show may sound, it actually formed the inspiration for writing this article today. The first season of the show is about a family who moves into a suspiciously under-priced large Los Angeles Deco-era family home.
Of course, as the series progresses the family discovers the true history of the home – several gruesome crimes, repeated stories of hauntings, the usual horror movie home truths! – and realises that the stigma attached to the house’s history is the reason why they were able to buy it so cheaply to begin with.
Later on when the family tries to re-sell the house, they are burdened with the history and struggle to even get back what they paid for it.
<img alt="mcevoyjuly16one" src="/images/stories/2013/07/NUMBERS/mcevoyjuly16one.jpg" width="470" height="169">
The house at it appears in real life on the left compared to how it appears in 'American Horror Story'
Though this is just a silly television series and a very over the top/extreme example of how a property’s history can affect values, it got me thinking about the sentiment that sellers and buyers of properties will attach to the history or superstition behind a property.
In Australian culture we actually do see mild examples on a day to day basis of where superstition can influence demand for property.
Take for example the fact that in several Asian cultures many favour apartments and houses with the number ‘8’ in them based on the belief that this number brings prosperity and fortune with it and, to a lesser extent, some western/anglo-Australian buyers showing caution toward properties numbered ‘13’ based on superstitious reasons of ‘bad luck’.
I have read on several websites and also a feature article in Australian Property Investor Magazine about a year ago, about the story of the gentleman who purchased the ‘Bodies in Barrels’ murder house, which was attached to a bank, in the otherwise sleepy South Australian town of Snowtown.
After being placed on eBay for sale – a curious sales tactic in itself – the 4-bedroom residential house behind the attached bank building (where the actual horrors took place) was eventually bulldozed to make way for a new unit development.
The bank itself was placed on auction at a reserve cost of $200,000, though achieving a sale price of only half of that, though was later resold closer to original reserve price (at $185,000) to a family who intended to owner-occupy it after some conversion and renovation.
 
<hr class="system-pagebreak">
Though I am citing an extreme and extraordinary example; it does provide some insights for us. The initial stigma attached to a property shortly after a horrific event did see its value deplete – no surprises there.
However, within just over a decade after the occurrence, the property value gradually crawled back up.
Perhaps time heals all wounds.
In this way, would-be investors with arguably a higher risk-profile than most could consider procuring heavily discounted properties where unfortunate incidents took place, employ a buy-and-hold approach for a medium-to-long term and hedge their bets that time heals wounds (and the memories) of their would-be buyers in years to come.
Personally, I consider it a somewhat macabre and bleak prospect but the professional investor in me urges me to consider the bottom-line element, and not the superstition or stigma around it.
However this alludes to a bigger problem, when considering such property types on their initial 'bargain’ merits.
From a buying perspective, there may be long-term capital gains, but what good are these gains if you cannot feasibly hold this property with tenants in place?  
Where superstition and history are really important is the occupants of a residence.
The association of tragedy, superstition, or creepiness, may be too great for some would-be tenants to handle. They may inspect the property not knowing the recent history, but within months of moving in, they are looking to leave after their first six-month lease expires.
A good example of the persistent challenges of established property stigma that results in a property being unable to function as a regular rented residence; is Crawley House.
No, not the picturesque setting for the UK series, Downton Abbey, but Crawley House aka the Monte Cristo Homestead (pictured below) in Junee, NSW.
<img alt="mcevoyjuly16two" src="/images/stories/2013/07/mcevoyjuly16two.jpg" width="470" height="375">
Though it is a palatial 1885 manor fit for a large well-to-do family of that era, its tragic past changed the residence from being able to function as a home forever and has instead remained for decades as a museum, antique store, and tourist attraction.
That said, where the stories and ‘sightings’ of ghosts have closed the door to its function as a residence, it has opened other commercial opportunity doors instead.
 
<hr class="system-pagebreak">
The truth is, the safest way to proceed with any property purchase is to do your homework.
If, for example, you are buying in an area that has a significant Asian population, it is worth at least being aware of the number of the dwelling and how this number may be perceived by that target audience.
Whether you end up selling or renting this property, it could be likely that your buyer may be of an Asian background and planning for such considerations may enable your target market to broaden as a result.
More crucially though, if you suspect the asking price for a property seems to be suspiciously lower than similar others in the area/street, ask the estate agent for full disclosure of any known history of the property.
Do as much research as you can around the history of the property and any occurrences that could have implicated on the sentiment towards it. Where and if possible, ask neighbours about the property. They probably won’t know anything but it never hurts to ask.
As a separate (and seemingly unrelated) step, I would always recommend that if your offer on a property is accepted, you buy the RP Data historical report for it.
This will highlight the sales history and any occurrences of note, pertaining to the history of the property.
Things to look for would be any disclosure of violent crime occurring there, or potentially a consistent (say, over twenty years) frequency of buy-and-sell; with no single owner retaining ownership of the property for more than a year or so.
I am not suggesting the reason will be anything to do with violent history or superstition, though you could discover something perhaps more startling, a structural or physical problem with the property over time.
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a href="https://propertyspectator.blogspot.com.au/" rel="nofollow" target="_blank">Property Correspondent.</a>
'Haunted house' photo courtesy of  Sean MacEntee
 
 
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cmcevoy-Go82SmsJA9

Can a property's turbulent history affect its market price: Cameron McEvoy

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Borrowers who don’t have a 20% deposit will be forced to pay higher lenders mortgage insurance (LMI) premiums following the two dominant providers – Genworth and QBE LMI – both increasing their premiums in the last 12 months. 
This is despite Australia having among the lowest mortgage default rates in the world. 
Fitch reported that mortgage delinquencies rose from 1.57% in the December 2011 quarter to 1.6% in the first quarter of 2012 – equating to about $35 million worth of loans turning bad. 
LMI is a one-off premium that protects lenders if a borrower defaults on their home loan - if the property sells at a loss, the lender can make a claim against its LMI provider for the shortfall. 
LMI can added thousands of dollars to the cost of buying a home and is particularly an issue for first-home buyers given the 20% deposit requirement. 
Calculations using the Genworth LMI premium estimator show that a first-home buyer borrowing 95% on a house valued at $500,000 (so a $25,000 deposit) would be required to pay an LMI premium of close to $16,000 on a 30 year variable-rate loan. 
A 10% deposit would reduce the premium to just under $8,000. 
A further issue is a lack of portability – if borrowers refinance with a new lenders and they still don’t have a 20% deposit, LMI must be paid again. 
Mortgage broker and director of Investors Choice Mortgages, Jane Slack-Smith, says she would expect LMI premiums to increase if there was an increase in delinquent loans “however it is not something I have seen in my business and not something that I have heard either LMI provider discuss in their updates”. 
Slack-Smith suggests that with interest rates so low, potentially the LMI providers are expecting issues for today’s buyer in the future when rates return to the long term norm of around 7.5% - “a way of hedging the future risk”. 
QBE LMI chief executive Jenny Boddington told Property Observer it increased base premiums on its core LMI products as of July 1 this year.
"We regularly review our pricing to ensure stable and reliable provision of our lenders’ mortgage insurance across the economic cycles,” she says.
Boddington says changes to premiums in recent years have mainly been driven by increased regulatory capital requirements, continuing subdued returns on our investment portfolio and slight increases in claims.
A spokesperson for Genworth confirmed that premiums have increased in the Australian market over the past twelve months.
“As a prudent insurance business, Genworth regularly reviews all elements associated with our product offering.
“This review takes into consideration the current market environment and the costs associated with providing our product and service delivery, including the cost of capital, portfolio performance and changing investment yields.
“Each individual LMI premium is calculated on the basis of a wide range of factors related to the size of the borrower’s deposit, the loan purpose, and the property. As such, pricing changes are based on a detailed analysis of each risk factor.”
Updates sent to brokers by lenders confirm the increases as well as changes to some products and offerings. 
An email sent to mortgage brokers by the Commonwealth Bank’ in June tells them that LMI will increase for “home/investment home loan and line of credit applications created from Sunday 2 June 2013”. 
“We are making these changes in line with pricing changes from our preferred LMI provider, Genworth,” says the Commonwealth Bank’s head of third party banking Kathy Cummings. 
An email sent to brokers by Suncorp says QBE LMI will increase base premium on three of its products - “lmiHOME™, lmiINVEST™ and lmiFIRST HOME™”. 
It’s not all bad news.
The Suncorp note also says QBE has of July 1 extended the eligibility criteria for its lmiFIRST HOME product - a discounted lenders mortgage insurance offering designed for first home buyers - to individuals who are purchasing or building a residential property for owner-occupation and who also qualify for the first-home owners grant and FHB stamp duty concessions.
The move is presumably to take in those FHBs who have qualified for the bigger state grants now available for new home purchases.
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lschlesinger-FZcF9M3vE6

More pain for first-home buyers as Genworth and QBE LMI push up mortgage insurance premiums

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Australian population is on a merry ride with a growth of 1.8% last year. We have added roughly 0.4 million people to the kitty of Australian citizens in 2012.
All good, but this brings forth a few pertinent questions. Such as: Is the housing sector good enough to keep abreast with the rising population? 
Population in Australia is getting a fillip due to two main reasons.
The first is termed as ‘natural increase’ and is expressed as the difference between the number of births and deaths. With low mortality rate, the natural increase is only expected to aid the population graph further in coming years.
The second factor is the ubiquitous overseas migration. It has brought in working class in ever so high numbers within the Australian shores. Net migration has doubled in the last 8 years and we have added nearly 240,000 to our population through net migration last year.
Of course, few states find themselves steeply rising on the population curve while others lag behind. While there are many reasons for the trend, net interstate migration turns out to be a key factor.
A few states drain people out while others siphon them in.
Factors like a) brightness of opportunities available, b) the performance of the housing sector, and c) the number of growth-drivers (single-industry economy or multiple-industry economy), among others, determine how much will a state soak in or bleed out individuals.
Tasmania and South Australia are finding out rather quickly that they are not providing enough reasons for people to stay (complete lack of depth in their markets). They have grown at a paltry rate of under 1%.
Places like Queensland, NSW and Victoria are growing rapidly both in terms of “wealth factor” and population.
Sydney has done rather well with New South Wales adding 90,400 people to its kitty last year. The good part is that the ratio of skill stream: family migration is loaded in favour of Sydney and a lot many skilled workers have been added to its tally lately.
This skilled-class will be an apt replacement for the baby boomer generation even as it looks to create its own job opportunity.
These people who are expected to generate their own wealth will look more and more towards living in the four main capital cities.
This is one reason why Sydney should keep piling the inflow of migrants and keep benefiting from it too.
The overseas migrants will fill us on their knowledge of overseas practices and business networks, will fuel demand in certain areas and also heighten investments.
Another point worth noting: not only the settler arrivals but also the number of onshore grants is increasing.
The latter is offered to student class who wish to settle permanently (have been living on a temporary visa till now).
The rapid development of Australia is luring them to stay forever and these are the individuals who are bound to feel more loyal about our country, adding a lot to its near-future wealth factor.
Population growth brings to the surface the crux question of housing supply.
We are running short of nearly 170,000 dwellings at the moment.
Oversupply in uninhabitable or lousy estate areas won’t help the cause.
Development-ready land needs to increase manifold.
Off-the-plan constructions need to honour time-frames, something which is not happening at large.
We have to stand up to our ‘median’ housing commitments and also look into the micro lots more engagingly. After all, we have a First Home Buyer population to cater to.
While the population growth is great news (we are not India or China where it can be perceived as a threat), our ability to turn it into a machine for growth is the main question at hand.
Tracey Chandler is a <a target="_blank" href="https://buyersagent-sydney.com.au/">buyer's agent specialising in Sydney's eastern suburbs</a>. This article originally appeared at <a href="https://buyersagent-sydney.com.au/" target="_blank">buyersagent-sydney.com.au</a>.
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tchandler-6GpQhktvKg

How population growth is affecting the residential property market: Tracey Chandler

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The abundance of new Melbourne fringe CBD apartment developments are providing new retail tenancy opportunities - and proving popular as the retail tenants target residential foot traffic and surrounding offices.
CBRE is at the forefront of securing tenancies at the foot of developments, having secured the retail tenants of Lili Apartments on Claremont Street.
Two Birds One Stone was the first tenant to secure a 141-square-metre space at the foot of the development and is currently turning over $50,000 a week.
CBRE also secured <a href="https://www.propertyobserver.com.au/victoria/adriana-zumbo-joins-george-calombaris-in-south-yarra-s-lilli-development/2013042360668" target="_blank">Adriano Zumbo’s first retail space at Lily.</a>
{yoogallery src=[images/stories/2013/07/july17southyarra2]}
Zelman Ainsworth of CBRE retail services says that pocket of South Yarra has turned into a food precinct in the last three years due to the growth of apartments in the area.
“Over the past 36 months there has been an increase in the level of interest from service and hospitality retailers looking to establish a presence at the foot of new residential projects.
“This is helping to create competitive tension within the marketplace,” says Ainworth.
Burger giant Huxtaburger has signed a deal at the base of the Trilogi development on High Street for a 90-square-metre store.
A UK steak house is soon to follow with a lease deal currently in the works.
In the new Upper West Side development of 2,500 apartments, 25 retail spaces will be available for lease.
The two retail spaces in the Sunday Apartment South Melbourne development have recently secured two tenants.
Tea Time Express has secured a seven-year lease for the 69-square-metre space and authentic Asian restaurant Kotaraya has secured a 10-yease lease of the 170-square-metre shop.
“We were pleasantly surprised with the level of enquiry from both hospitality and service retailers that were looking to secure a presence at the entrance to the 237-apartment building,” says Ainsworth.
Ainsworth says retailers have taken a jump as that pocket of South Melbourne is quiet, but the development and surrounding offices will deliver.
The Sunday Apartment development currently houses a <a href="https://www.propertyobserver.com.au/victoria/south-melbourne-trophy-apartments-competing-with-the-block-sky-high/2013071163197" target="_blank">three-bedroom apartment competing in the same price category as The Block Sky High apartments</a> (and pictured below).
{yoogallery src=[images/stories/2013/07/july16southmelbourne]}
"Traditionally retail is never emphased in apartments, where as now, with the right type of marketing and positioning, there are huge opportunities to activate successful retails at the foot of developments in melbourne, either food, fashion or services," says Ainsworth.
Ed Wright of CBRE’s City Sales Division says inner city retail premises earning a strong return attracts a range of investors.
“The ability to own one of these CBD or inner city retail properties either directly or through a self-managed super fund, and earn a strong return has attracted a range of investors looking for alternatives to the share market, term deposits or residential property investment,” says Wright.
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ntrotman-Et3xWpamVh

Melbourne's CBD fringe apartment developments providing opportunities for retail tenants

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Solid interest remains to lease high quality industrial facilities aligned to major road networks and port infrastructure, says Dexus head of office and industrial, Kevin George.
The assessment of industrial leasing demand was made as the property group released an update on recent leasing activity within the $2.5 billion Dexus-managed industrial portfolio.
“Our leasing activity in recent months has been focused on established markets with existing and new tenants.
“While Australian industrial leasing markets appear to have paused in terms of the strength in demand, solid interest remains for high quality facilities aligned to major road networks and port infrastructure,” says George.
Key recent leasing achievements include a 10 year lease over 10,605 square metres Garigal Road, Belrose, commencing 1 January 2014, considered a "significant result considering the difficult conditions in the Sydney north shore industrial market".
Other recent deals include:
<ul>
<li>At Knoxfield Industrial Estate terms were agreed with Toll Transport to extend its lease over 36,123 square metres until July 2015</li>
<li>At Axxess Corporate Park, Melbourne Australian Postal Corporation exercised its option for a fiveyear extension over 4,354 square metres commencing September 2013. This resulted in a total of 9,911 square metres being leased at this property across 13 transactions over the three months to 30 June 2013</li>
<li>At 10-16 South Street, Rydalmere lease terms were agreed with two tenants totalling 8,360 square metres, including Payless Shoes occupying 5,294 square metres for 10 years, Deluxe Wood occupying 1,498 square metres for 4.4 years and Renz Australia occupying 1,568 square metres for four years. This leasing activity results in the occupancy for this property increasing to 93.1% and a WALE improving to 4.1 years</li>
<li>At Quarry at Greystanes Wilson and Bradley signed a five-year lease over 3,976 square metres at 3 Basalt Road and leveraging on DEXUS’s long-term relationship with the Wesfarmers Group, Bunnings was secured for a one year term over 12,490 square metres at 2-6 Basalt Road. This leasing activity has resulted in 100% occupancy across all competed developments at Quarry at Greystanes, which comprises over 113,000 square metres</li>
<li>At 12 Frederick Street, St Leonards two existing tenants have renewed their leases. Australian Postal Corporation at Unit 9 has extended its term by three years over 1,914 square metres and Metal Manufacturers at Unit C has extended its term for five years across 1,304 square metres</li>
</ul>
“Industrial tenant demand has been driven mainly by logistic providers benefiting from companies outsourcing their supply chains, as well as major retailers as they continue to consolidate their multiple warehouses," says Mark Cuddy, regional general manager of office and industrial. “The recent leasing achievements demonstrate our capabilities to actively manage the industrial portfolio, build on existing tenant relationships and improve occupancy.” 
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“Solid” leasing interest for high quality industrial property: Dexus

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Economist Stephen Koukoulas has tweeted about strong growth prospects for the Australian economy following publication of the Westpac Melbourne Institute Leading Index.
<a target="_blank" href="https://twitter.com/TheKouk">@TheKouk</a> tweeted:
<a target="_blank" href="https://twitter.com/TheKouk"><img alt="kouk_tweet" height="81" width="470" src="/images/stories/2013/larry_uploads/kouk_tweet.jpg"></a>
The annualised growth rate of the Westpac Melbourne Institute Leading Index, which indicates the likely pace of economic activity three to nine months into the future, was 4.9% in May, above its long term trend of 3.0%.
The annualised growth rate of the Coincident Index, which gives a pulse of current activity, was 2.7%, slightly below its long term trend of 2.9%.
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