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

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Real estate agents are seizing the likelihood that suburbs along the mooted light rail lines in Sydney will benefit the surrounding housing market.
 
Randwick, which would be connected to the city via the south east light rail, has experienced added value from investors as as a result of the mooted tram link, said agent Theo Karangis from NG Farah Coogee.
 “I could already see now a big of movement upwards, we’re achieving some really good results. We’ve sold over 40 apartments this year alone and our open for inspections has definitely increased,” he said.
 Some $423 million from the state budget has been set aside to allocated over four years to the 12km light rail connecting Circular, Central and George Street to the entertainment precincts of Randwick Racecourse, Moore Park’s sports grounds, and hubs University of NSW and Prince of Wales Hospital.
 The Randwick area, which has a significant student population who attend nearby universities, is currently serviced by buses and can experience traffic congestion to Sydney’s CBD during peak times.
 Recently, more families of tertiary students have been buying into the area for their children to live in while they study at nearby universities and then using the property as an investment when their children graduate.
 These investors could capitalise on the growing house prices, said Karangis.
 “We’re achieving the higher end prices in Randwick. Before that, those prices were just in Coogee,” he said.
 The light rail could also bring in a new lifestyle to the suburbs they service.
 Dulwich Hill, whose 5.6km extension to the inner west light rail extension is currently under construction, has seen urban gentrification with more retail opportunities and stores like Gleebooks and gourmet deli The Larder joining the suburb.
 The new transport has quickened the pace of the lifestyle change, offering the cafe lifestyle to a more affordable part of the inner west, said agent Adrian Abrook from LJ Hooker Dulwich Hill.
 “This just gives us another opportunity to get other buyers who may be looking at this market to explore it,” he said.
 
Dulwich Hill will be one of nine stops on the extension planned to open next year. Nine new stops will be added to the current services. $76 million over four years was allocated to the inner west line from the state budget.
 However, some residents in Surry Hills lobbying against the proposed route of the South East Light Rail are concerned the tram link will have a negative impact on their properties.
 The transport construction and long term effects of the light rail will impact on surrounding retail as well as the liveability of the suburb, said Venietta Slama-Powell, founder and convenor of community lobby group PUSH (People Unite Surry Hills).
 “Properties directly on the route are at risk of being severely financially affected. Considerations to increase in noise, visual outlook, traffic congestion, safety, property access and importantly parking. We have been advised that loss of parking can reduce a property by 20%,” she said.
 The light rail route is planned for Surry Hill’s Devonshire Street via Chalmers Street to reach the city centre.
 The community group would like to work with the state government to ensure the tram line doesn’t impact upon residents and existing retails.
 “PUSH and many community members support the concept of light rail, a Surry Hills route and stops. But our team and Engineering Panel believe the initial Government proposal can be greatly improved by the application of local input, as happened with the Eastern Distributor, and a solution that is more likely to have a positive impact on most, if not all property prices,” she said.</body></html>

cwong-GNQNgsRWoT

Plans for Sydney's light rail lines are already having an effect

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The Sydney housing market continued to strengthen through May with auction clearance rates rising to near-record levels, according to Australian Property Monitors.
The auction clearance rate for units of 74.9% was second only to the 76.3% recorded in May 2002.
Similarly, the auction clearance rate for houses of 65.3% was the fourth highest May recorded over the last 23 years, behind only 2001, 2002 and 2003.
"Sydney is now clearly the best performing local economy, with an unemployment rate of 4.9% in April, the lowest of all the major capitals," APM senior economist Dr Andrew Wilson.
He said other leading indicators of economic activity such as retail sales, also positioned Sydney as a leading economic performer.
The report noted investors and mid-range upgraders were currently highly active in Sydney, with both the first home buyer market and the prestige market remaining relatively subdued.
Sydney’s inner west region and upper north shore remain particularly popular with buyers.
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jchancellor-FAypfDUnLy

Sydney unit market at near record auction sales strength: APM housing market report

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The Sydney wildlife attraction Featherdale Wildlife Park has been sold to the boutique investment house, Moss Capital.
Its a deal estimated at $15?million, according to the Australian Financial Review.
The wildlife park on Sydney’s north-western fringes set over almost three hectares in Doonside near Blacktown was sold by the listed hotels and resorts group, Amalgamated Holdings.
The attraction will be managed by the Anthology Collection whose niche tourism experience portfolio includes the Wildman Wilderness Lodge in the Northern Territory.
Marianne Ossovani, executive director of Moss Capital’s hotels and tourism division said Featherdale’s strong cash flow generating capacity was the key drawcard.
CBRE Hotels associate director Andrew Jackson brokered the deal between the two companies associated with well known property veterans Alan Rydge and Bill Moss.
Amalgamated Holdings – the owner of Rydges Hotels and Resorts, Thredbo ski resort and Greater Union cinemas – had held the property since December 1996.
The land was originally purchased by Charles and Marjorie Wigg in 1953. The Wigg’s son-in-law, Bruce Kubbere studied Australian fauna from early childhood and Featherdale opened to the public as a wildlife park in 1972. In the early years Bruce, and his wife Margaret, operated a plant nursery in conjunction with the Wildlife Park so beautiful Australian native trees and plants line the walkways. Featherdale’s future was threatened in 1975 with plans to use the property for a housing commission development.
The then Premier, Sir Robert Askin was presented with thousands of signed petitions convincing the government to rescind its original decision. 
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Moss Capital buys Doonside, Sydney wildlife attraction Featherdale Wildlife Park 

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Reports suggesting the Commonwealth Bank is seeking to shed management of its listed commercial property platforms – the CFS Retail Property Trust Group and the Commonwealth Property Office Fund  - have been dismissed as “speculation”.
The two A-REITS have a combined value of $20 billion.
The responsible entity of the fund is the Commonwealth Managed Investments Limited (CMIL), a subsidiary of the Commonwealth Bank while another subsidiary, Colonial First State Global Asset Management (CFSGAM) manages the trusts.
It follows the Australian Financial Review’s StreetTalk column revealing last week that a “number of unsolicited approaches were made by a string of potential buyers” to replace the bank as responsible entity of the two A-REITS.
The column reported today that the Commonwealth Bank planned to unleash “a buy-out frenzy for its listed office vehicle, Commonwealth Property Office Fund”.
In a statement posted to the ASX, Commonwealth Managed Investments Limited (CMIL), as responsible entity of both funds advised “it has not received any approach or proposal that would support this speculation”.
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Commonwealth Bank shedding of commercial property trusts dismissed as “speculation”

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Raine &amp; Horne Manly principle Toby Hutton has attributed the private treaty sale of a six-bedroom Northern Beaches family home for $1.715 million in part to expectations that the Coalition will win the federal election in September.
The house is in Liberal Party heartland and only a short drive from Tony Abbott's own home in Forestville and his federal electorate of Warringah.
The property in a cul-de-sac at <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-beacon+hill-113719739">10 Scarborough Place</a> was built in 1995, stands on a 901 square metre site and includes a saltwater pool and spa plus landscaped gardens and manicured lawns.
It sold to a Clontarf owner-occupier after failing to sell at auction in May with expectations of $1.6 million plus.
Hutton said he attributes local buyer confidence to the prospect of a "couple of terms of a federal Coalition government after 14th September".
“Unlike other real estate markets and business sectors, political instability is not affecting the Peninsula.
“Our region is traditionally blue ribbon Liberal, so the prospect of long-term stability after the difficulties of a minority government over the last three years, is a prospect many homeowners and businesses are already savouring in our region.”
Abbott is the federal member for Warringah, just three kilometres east of Beacon Hill.
He lives five kilometres west of Beacon Hill in Forestville
Hutton says the property attracted a steady stream of genuine enquiries over the three weeks it was on the market.
“This is a significant difference to 18 months ago, when it was possible to go two weeks without fielding an enquiry for prestige homes such as these,” he says.
Apart from an expected Coalition victory, Hutton also attributes increased buyer confidence to improving economic news from the likes of the United States, coupled to stronger share market returns over the last year or so.
“The sharemarket has had a pretty good twelve months, despite the latest volatility, and this has translated to bonuses being paid to investment bankers and portfolio managers, and this money is starting to find its way into prestige homes in our region,” he says.
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The Tony Abbott effect? Raine & Horne agent attributes Northern Beaches sale to likely Coalition election victory

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WBP Property chief executive Greville Pabst provides a tour of Melbourne bayside suburb Elwood, offering his advice on the best property investments in the area.
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WBP Property's Greville Pabst explores Elwood in Melbourne's bayside

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Forecasts of a sharp rise in Australian house prices creating a housing bubble are “overblown” new modelling by Citi Research suggests.
Under its expected baseline scenario, which assumes no further rate cuts until the second quarter of 2014, Citi Research expects nominal house prices to rise 3% between now and  March 2014 and then start to fall slightly, driven downwards by among other things a slowing Chinese economy, a weaker Australian dollar and reduced Chinese migration.
Even under the most bullish scenario - the cash rate dropping to 2% by March 2014, Chinese growth above 10%, the dollar to remain elevated and the non-FHB loan size to lift significantly over the forecast period – the forecast is for house prices to rise by around 8% from current levels or 5% relative to the peak in June 2010.
“Hardly the definition of a housing ‘bubble’,” say Citi Research analysts Paul Brennan and Josh Williamson, who created the modelling and authored the report.
<img src="/images/stories/2013/larry_uploads/citigraph.jpg" width="470" height="310" alt="citigraph">
Under the expected baseline scenario, they say the initial house price increase will be the result of sustained low interest rates which in turn causes increased borrowing.
However, “the downward pressures created by a slowdown of the Chinese economy, lesser appetite for capital inflows as reflected in a lower Australian dollar and reduced Chinese immigration will eventually overtake the upward momentum from positive domestic factors, causing prices to fall slightly” say Brennan and Williamson.
In the short term, they say the main driver for the Australian housing market will be the low interest rate, “which will likely remain low in the foreseeable future”.
“We maintain our view that the official cash rate will remain at 2.75% until second quarter of 2014.
“This implies that the variable lending rate will also stay at current levels over the same period, easing households’ (particularly non-first home buyers’) concerns over mortgage pressures and consequently stimulating the demand for housing.
“We also assume consumer confidence rises gradually later this year. We have allowed for the non-FHB loan size to grow at higher than the historical average rates, which we think is reasonable in response to the record-low cash rate.
“The auction clearance rates in Sydney and Melbourne have been hitting the 70% to 80% mark for the first 5 months of 2013, coinciding with the RBA cutting rates to lows of 3% in December 2012 and again to 2.75% in April this year."
What will be holding back growth in house prices in the longer term are a number of factors, including the “lower growth outlook in China, slowdown of Chinese immigration and reduced appetite for offshore capital inflows associated with the lower Australian dollar as the mining capex boom winds down".
“We expect the nominal house price to peak in March 2014, by which time it will have increased by 3% from its current level," say Brennan and Williamson.
“However, we expect the slowdown in China to flow through to the Australian housing market during 2014, causing downward pressure on house prices.
“Our Chinese economists are of the view that Chinese industrial production (IP) growth will moderate to below 10% over our forecast period, a significant reduction from the double digit growth rates seen not too long ago. 
Under a bearish scenario, a combination of factors - Chinese IP growth to drop between 9.5% and 8.5%, non-FHB loan size growth to reach negative territory over the forecast horizon, a much sharper drop in the Australian dollar and an earlier cash rate hike than the second quarter of 2014  as well as a drop in consumer confidence to below neutral levels - would give rise to a weak housing market where prices drop on a year-on-year from December 2013.
"By the end of our forecast horizon the nominal house prices would have fallen by around 7% from their current levels," they say. 
Brennan and Williamson claim their modelling has “strong predictive power” with an 85% correlation to house price movements incorporating domestic factors impacting on the housing market as well as international factors including Chinese immigration growth, changes in Chinese industrial production as well as the weakening Australian dollar.
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Australian housing bubble risk “overblown” with prices to peak in March 2014: Citi

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Fisher &amp; Paykel Australia has agreed to terms on two premises after deciding to relocate its head office and warehouse facilities, currently based at Lidcombe to two separate locations. 
The moves offer major competitive advantages, including a diverse industry base, excellent telecommunications and transport provisions. 
Based in Lidcombe for 13 years, the company will move its head office to Level 2, 5 Eden Park Drive, Macquarie Park in Ryde. The space is an A-grade tenancy with a high grade fitted out area totalling about 1,108 square metres. The lease term is just under three years, and the annual net rental is $320 per square metres. 
Fisher &amp; Paykel’s warehouse operations will move to 28 Scrivener Street, Warwick Farm in Sydney’s industrial west. The modern, freestanding building of full height precast panels has an 8.9 metre clearance and a gross lettable area of 10,284 square metres. Truck access is via 10 roller doors: six sunken docks and four on grade doors. The rental rate is $82.65 per square metre net. 
The Macquarie Park deal was negotiated by Savills agents Darren Curry, Simon van Grootel and Adam Micola, and the Warwick Farm deal was negotiated by Darren Curry and Adam Micola, also of Savills.
“Both moves offer practicality and convenience for Fisher &amp; Paykel," Darren Curry said.
‘’On the doorstep of Macquarie Park is the train station, cafes, restaurants and staff amenity, all of which are major drawcards for staff. Warwick Farm is well known for attracting logistics and freight companies due to its close proximity to the M5.’’
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White goods maker Fisher & Paykel relocates to Macquarie Park and Warwick Farm

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The world’s wealthiest have recouped the losses incurred in the 2008 banking crisis, and are now richer and more numerous than ever.
Today there are more than 103,000 of what wealth watchers call ‘ultra-high-net-worth-individuals’, usually referred to as UHNWIs. To rank as an UHNWI, you need at least $30 million in assets. On top of that, there were 12 million high net-worth individuals worldwide, defined as those with $1 million in investable assets. There were 9% more high net-worth individuals this year than last.
Those figures are from an <a target="_blank" href="https://www.capgemini.com/thought-leadership/world-wealth-report-2013-from-capgemini-and-rbc-wealth-management" rel="nofollow">annual wealth report</a> released last week by RBC Wealth Management and consulting firm Capgemini. The ranks of the world’s wealthiest grew strongly last year, following on from another healthy rise in 2011, when the numbers of the super-wealthy first hit pre-crisis levels.
The United States has had a <a target="_blank" href="https://www.smartcompany.com.au/economy/056123-dollar-plummets-and-sharemarket-drops-20-billion-what-does-the-us-fed-s-decision-to-end-economic-stimulus-mean-a-smartcompany-q-and-a">run of positive economic figures in recent months</a>, and the report unearths another. The number of high net-worth individuals in North America increased 11.5% in 2012 to hit 3.73 million. This put North America back on top as the continent of millionaires, eclipsing the Asia-Pacific, which grew 9.4% to boast 3.68 million millionaires, of which 207,000 live in Australia.
The report was prepared for wealth managers, so it looked in some detail at the investment preferences of the world’s richest. It surveyed 4000 global high net-worth individuals about how they like to invest their money and unearthed an interesting paradox.
Leverage and risk are how entrepreneurs get wealthy. But the wealthy people surveyed for the report showed a clear bias towards conservative asset allocation, putting nearly 30% of their wealth into cash and deposits.
This aversion to risk applied across all ages and wealth levels, and, the authors write, suggests a low level of trust in financial markets.
Japanese millionaires were the most likely to leave their wealth in cash, while North American investors favoured equities (putting nearly 30% of their money into the stock market). Australia’s millionaires put more of their wealth than the global average into property, which is unsurprising, given <a target="_blank" href="https://www.propertyobserver.com.au/https://leadingcompany.smartcompany.com.au/wealth/rich-tales-the-four-secrets-behind-how-the-brw-rich-200-made-their-fortunes/201305264301" rel="nofollow">a quarter of the people on the Rich List got there through property investments</a>.
A preference for cash wasn’t the only sign of caution those surveyed displayed. Even when they did invest in shares and property, most of the millionaires said they invested around 80% of their assets in their home country, as opposed to seeking out wherever in the world they could get the greatest return.
“Given recent market rallies, there is little doubt that the high allocation to more stable assets has likely caused some HNWIs to miss opportunities for wealth growth,” the report states.
“However, this is often a conscious decision as some HNWIs willingly forego returns in exchange for the safety of capital. As the global economy stabilizes and markets expand, HNWIs seeking growth will have the potential to put more of their wealth to more productive use.”
This is interesting because global interest rates are low. Low interest rates mean low returns for cash deposits, meaning investors would do well to pivot out of cash, as <a target="_blank" href="https://www.smartcompany.com.au/sponsored/055505-search-for-value-the-top-underrated-investment-opportunities-of-2013-4">many wealth management advisers say</a>.
It’s good advice. But it seems that for one reason or another, the world’s richest are favouring far more conservative investment strategies than the ones we’re normally advised to pursue.
Maybe they figure that once they’ve hit the jackpot, there’s little to be gained in jeopardising that. Or, perhaps, they’re still cautious about the global economy.
This article originally appeared on <a target="_blank" href="https://www.smartcompany.com.au/">SmartCompany</a>.
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The world's wealthiest have bounced back from the GFC, but have become risk averse: Myriam Robin

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It’s easier than ever for property buyers to find out that your property is on the market.
Virtually all buyers are researching property online and the major property portals list pretty much every property for sale. They have 95% of agents on their books. If your agent isn’t listing your property on these sites you should be asking why. 
  Many agents still want property vendors to spend a large amount of money on print advertising. It’s expensive and does exactly the same thing as online advertising, but without the reach.  In fact, all property marketing options offered to vendors are aimed at the same thing – getting buyers to come and look at your place.   Property staging – bringing in furniture and other interior decoration elements – has become more popular too. It’s also expensive but shows buyers how your property would look with a modern, uncluttered feel.   But what do buyers want?   They are hungry for useful information about your property.  Floor plans, photos, etc can all be included in your online listing and access to historical sales information about your property and suburb is available free or for a low cost from a number of online providers.   But what about information for buyers that show interest in your property and want to get it checked out by a building inspector?  This is still largely considered the buyer’s responsibility with many agents hoping that they won't bother to look too close and just make an emotional decision to buy.   In our view that type of attitude is old hat!   What vendors and agents are failing to recognise is that better, detailed information about a property can have a powerful marketing benefit.  As noted earlier, almost all marketing is aimed at getting buyers to your place.  But what happens after that?   If you make it easier, cheaper and quicker for buyers to do their due diligence (i.e. access independent inspection reports), you are adding depth to your property marketing and also making it easier for buyers to be ready to buy your property.   You are also being more transparent about the condition of your property.  That means buyers are likely to be more confident about making a decision to buy.   The investment in getting inspections done is very low compared to the overall cost of selling your property.  As well as giving you a new string to your marketing bow, it helps ensure you don’t miss out on buyers who see your property at the last minute and don’t have time to carry out their own due diligence.
Michael Ferrier is managing director of <a href="https://www.eyeon.com.au/" target="_blank">EYEON</a>.
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