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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No one has ever succeeded in property investment without knowledge gathered from thorough research. But, for many wannabe investors, research consists of skimming headlines. 
   I’ve done five seminar presentations in three states in the past couple of weeks and 90% of the questions I’ve received have been based on skinny knowledge, vague impressions and misinformation.   “I’ve just bought a new house-and-land package in Gladstone – how come I can’t find a tenant?”   “I read that the resources boom is over. Do you think I should sell all my properties?”   “I was planning to buy in Brisbane but I saw a report that said there had been no price growth in Brisbane – what should I do?”   It’s scary, really, how little people know as they consider spending hundreds of thousands of dollars.   You have to dig a little deeper.   The major research sources publish generalised data about the major cities. They generally ignore the regions and they publish a single price figure for a city of many millions. It may be interesting but it doesn’t help anyone make an intelligent investment decision.   The latest report from the Real Estate Institute of Australia records a 2.3% decline in Brisbane’s median house price in the March quarter and annual growth of just 0.7%.   Does that mean there’s no growth in Brisbane? No, it doesn’t mean that, not if you look behind the generalised figures. The report fine print shows that median price for the outer ring suburbs rose 2% in the March quarter and is up 4.4% on a year ago. Similarly, the median for the inner-city suburbs rose 1.5% in the quarter and is up 6.5% on a year earlier.   The generalised median unit price for Brisbane dropped marginally in the March quarter and is up only 1.1% in annual terms, but hidden behind that data is a 15.7% annual rise in the median unit price for the outer ring suburbs of the Queensland capital.   Adelaide appears to have delivered nothing much in the way of rental growth in the past year but big a little deeper and you find the median rent for three-bedroom houses in the inner ring suburbs rose 5%. Rent for one-bedroom units are up 6.1% in the inner city and 6.8% in the middle ring suburbs.   Sydney overall recorded a 1.6% decrease in the median unit price in the March quarter and only 1.7% growth over 12 months, but the median unit price for the outer ring suburbs is up 5.7% in annual terms.   The median unit price for Melbourne apartments has dropped in the inner-city areas – not surprisingly, given the vast over-supply – but median price for the middle-ring suburbs is up 3.5%.   There’s never a single market situation in any of our cities. There are different scenarios playing out in different price ranges, product types and geographical areas.   To succeed, you have to go deeper, look behind that shallow analysis of economists and property research firms, and understand what’s happening at a more micro level.   A little knowledge is a dangerous thing, nowhere more so than in property investment.     Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>
 
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terryryder-YECXbqmri2

It’s scary, really, how little people know as they consider spending hundreds of thousands of dollars: Terry Ryder

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Property developer Keith Levett, the director of Kitchen World Australia, and his wife, Jillian, have listed their Dolans Bay residence with boatshed and jetty for July 1 expressions of interest.
The five-bedroom house sits on the 2950 sq m Port Hacking Road estate that incorporates the 1930s mansion, Windemere, the former Sisters of Mercy convent which Levett bought 16 years ago.
Completed 11 years ago, <a href="https://www.mcgrath.com.au/buy/house-dolans-bay-nsw-2229/167147/?searchID=29539975" target="_blank">it has been listed by McGrath agent Sean Egan</a>.
In 2007 there were $7.5-million-plus hopes. They are now seeking $6 million plus.
The suburb's record has stood at $3.37 million since 2007.
<img alt="trophyhomesstrapone" src="/images/stories/2013/05/trophyhomesstrapone.jpg" width="470" height="57">
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jchancellor-FAypfDUnLy

Remodelled convent at Dolans Bay listed as $6 million trophy home

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Melbourne-focused Asian development group Far East Consortium has acquired the remaining majority portion of the former headquarter of The Age at 250 Spencer Street for $75 million.
The site has approval for an <a target="_blank" href="https://www.propertyobserver.com.au/developments/ispt-looking-to-sell-majority-of-spencer-street-site-formerly-occupied-by-the-age-newspaper/2013060661961">$800 million six-tower apartment development.</a>
The property development group announced the acquisition in a statement to the Hong Kong Stock Exchange over the weekend, where it is listed.
The purchase is subject to Far East Consortium being granted approval by the Foreign Investment Review Board (FIRB).
Far East Consortium is currently building the $1 billion Upper West Side project which features four residential towers of 2,600 apartments near The Age site. One tower is already completed with a second under construction.
The latest acquisition continues the trend of Asian-based property developers acquiring Melbourne CBD development sites for residential high-rises.
Current Asian projects in Melbourne include Hengyi Australia, the Australian arm of the mainland Chinese developer which is developing serviced apartments at The William at 199 William Street opposite the Supreme Court.
In December Malaysian developer Mammoth Empire secured a prime development opportunity on Elizabeth Street opposite a 55-storey residential tower it already has under construction.
<a target="_blank" href="https://www.propertyobserver.com.au/victoria/melbourne-cbds-tallest-residential-tower-crown-tussle/2013022858541">Singapore developer Chip Eng Seng </a>has received the go ahead for CEL Australia’s $170 million Tower Melbourne which will boast 555 apartments (and townhouses) across 71 storeys.
The 11,750 square metres portion of the 15,200 square metres site (nearly a whole city block)  acquired by Far East Consortium was put up for sale by ISPT last month with expectations of between $70 million and $80 million.
The smaller eastern portion of the site was sold to Melbourne apartment developer Central Equity for $17 million in 2010.
Far East Consortium has completed around a dozen projects over the past 20 years.
ISPT acquired the site for $66 million in 2007.
Colliers International agent Tim Storey negotiated the ­off-market campaign.
 
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Hong Kong-listed Far East Consortium acquires ISPT’s Spencer Street site for $75 million

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I’ve been interested in the commentary about the Aussie dollar’s loss of value against the US dollar.
At the start of May, one Australian dollar could buy $1.05 American; this week it was down to buying US.93¢.
The portents have all seemed grim, but what does the Australian dollar actually mean?
For a starters, the relative value of our currency is not always a bellwether on how we are doing as a nation.
In June 1998, Australia’s economy was growing at 3.9% and John Howard called us the 'strongman' of Asia, yet the Aussie dollar could only buy US.58¢.
In mid-June 2006, the Aussie dollar traded at US.73¢ during a time when the government had surpluses, unemployment was low and we had an equities boom.
What lifted the value of Australian dollar above US$1.00 from late 2010 to May of this year was our trade performance relative to the US economy: resources were being exported in large quantities and at high prices at a time when the US economy was flat.
For most readers this phase meant significant purchasing power when traveling overseas and very good terms from online American retailers.
But life isn’t all about cheap holidays and cut-price Nikons. Our manufacturing sector suffered under a high dollar because it was cheaper for Australians to source goods overseas, while local companies found it hard to export because the exchange rate favourable to Australia made the goods expensive for the importing nations.
Over the past two years we saw a ‘two speed’ economy, where resource exporters could thrive regardless of the high Aussie dollar because what they were exporting was in high demand, while local manufacturers went backwards.
Our domestic energy consumption has flattened due in part to manufacturers operating at under-capacity or going out of business during this phase.
Now that the Aussie dollar is buying less than one American dollar perhaps we should remind ourselves why it is not so bad for our local manufacturing, hospitality and tourism.
With a weakening dollar, Australia looks like a reasonably-priced destination for international tourists and a place where Aussies will holiday rather than going overseas. This also gives the tourism ancillaries – cafes, pubs, restaurants and accommodation – a boost.
These industries are not to be trifled with: the services economy is larger than mining, contributing to around 70% of our GDP and about 75% of employment.
And with the Aussie dollar not so high, Australian manufacturers – many of whom operate at a quality and price premium compared to Asian competition – can find opportunities again where the high dollar is not a hindrance.
There is an argument that the resources boom was actually a market distortion, and that a strong dollar and repressed manufacturing was the price to pay.
Now that the resources boom is passing, perhaps the accompanying lower Aussie dollar is better for a much larger slice of the economy than the high dollar was aiding.
Mark Bouris is executive chairman of <a href="https://www.ybr.com.au/" rel="nofollow" target="_blank">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
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A lower Aussie dollar isn't all bad news: Mark Bouris

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Once again, Melbourne is producing ‘healthy’ results with the clearance rate now residing at 70% for the year to date (up from 68% in April) and the latest REIV house price index posting a 1.4% increase for the month of May.
According to the REIV, this is the eighth consecutive month of house price increases, with unit prices also showing a moderate boost - up 0.9% for the month – which is the third consecutive monthly rise.
Not surprisingly, the biggest gains have been recorded in the inner and middle regions of the city – principally, the ‘auction-dominated’ terrains – with the outer suburbs remaining stable.
Most sales in Melbourne are conducted private treaty with a rough 80/20 percentage split – 80% being private sales and 20% for sale by auction and although as a percentage of total sales, the share of auction transactions is down on this time last year, in raw numbers we are marginally ahead. When I last checked, year to date there have been approximately 11,719 auctions, compared to 10,742 for the same time in 2012.
When confidence improves and auction results start to ‘openly’ surpass their reserve, the number of vendors opting to sell using this method increases. As reported by the REIV - by the end of June approximately 3,175 auctions will have been held. Only once in the past decade (2010) have there been more auctions in June, and in the inner and middle ring suburbs there is no perceptible sign of the market weakening, if anything the reverse is occurring.
Evidently, the majority of auctions I watch are selling under the hammer. However, it should be noted I filter the auctions I attend, concentrating primarily on listings which attract a wider buying market due to location and type - albeit, in some instances, those sales are exceeding reserve by as much as 10%, and on occasion more.  As we’ve seen previously, this cannot be sustained over the longer term.
It’s not quite the rampant atmosphere experienced in 2007 during which the ‘lending frenzy’ leading up to the GFC was pushing excessive amounts of easy credit into the market. Prices are still well below their peak and results patchy.
Albeit, whilst the aggregated data shows only moderate gains, in areas where auction sales predominate (such as Bentleigh, Hawthorn, Glen Iris for example) a number of economic and social factors have combined to push it well and truly into a sellers' domain.
The somewhat robust turnaround has produced a point of confusion in recent media articles.  Confidence is still waxing and waning, with the Westpac-Melbourne Institute Index down 7% in May to 97.6 – below the ‘critical’ 100 point bench mark - and although a bounce back in June was welcomed, we’re still on a rough equal split between those who think the cup is half full, or empty.
Also, news of job losses have been filtering in over the past few months, initially from Ford and Holden and most recently Target – not to mention some of Victoria’s fruit growing regions following cutbacks by SPC Ardmona.  All of this will produce a drag on Victoria’s employment data over the months to come, with unemployment currently sitting at around 5.6% (in trend terms.)
The recent drop in the cash rate, provided buyers will a little more spending power, however the 70% year to date clearance rate with overall turnover increasing and prices swinging past the reserve, is more to do with the effect public auctions have on buyer confidence than anything else.
 
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I have written about the chain reaction this method of sale has on the market as a whole previously. The last time we had an auction rally was back in 2010 during which clearance rates were in the 80s.  I’m still coming across buyers who, to date, having bought at ‘peak’ under competition, three years later, cannot sell for purchase price.
In other words, regardless of low interest rates and ‘improved affordability’, their property sits in negative equity with new data from Melbourne Institute’s federally-funded Household, Income and Labour Dynamics in Australia survey backing it up. It shows one in every 40 families with a mortgage in 2010 owed the bank more than their home was worth, with senior economist Shane Garrett commenting that negative equity rates were likely to be the same now as in 2010.
Is it ever OK to say it’s not a good time to buy? Quite clearly, yes!
The physiological impact when bidding against competition for an emotional asset has been well documented - and when confidence improves, this method of sale does result in higher prices – prices which would be extremely difficult to negotiate in a private sale scenario during which there would be no undisputed evidence to the leading buyer that a competitor is willing to pay more.
Not unlike sports gambling, a well-staged auction actively encourages buyers to lose a sense of considered rationality, with a trained auctioneer pushing the ‘players’ to stretch their budgets past their pre-established limit, which when combined with a strong desire to 'win' at all costs, can result in a potentially dangerous set of circumstances.
Without adequate knowledge of where we started, taking full advantage of sales data for the duration of the ‘to-date’ 12-month time span, the possibility of overpaying on the back of a short term auction ‘rally’ is ever prevalent and the resulting rise in vendor’s expectation as they see neighbouring properties sell at a higher price, is not quickly corrected.
Furthermore, in some of these key regions stock is dropping – particularity good stock – which is fairly typical of a rising market.  After all, who wants to sell when the perception remains that a vendor can get more if they hold and wait for further gains? Especially as additional rate cuts are still widely anticipated.
Therefore, considering the clear reality that the market shows no current sign of weakening, it’s somewhat of a surprise to find RP Data’s daily index for the month of May posting a -4.4% drop in Melbourne unit prices whilst at the same time, there has been a 3.7% rise in house prices for the same period. Overall, RP Data’s recorded monthly drop for Melbourne is -2.1% and in light of the information above, it should be questioned.
It’s not the only surprise to be found in RP Data’s monthly index. Take Canberra for example – according to RP Data, dwellings were up 3.8% for the March quarter – yet just two months in to the second quarter they have dropped by -1.5%.
Hobart’s unit market has all but ‘crashed’ with prices -8.5% – whilst on the other hand; the housing market has posted a rather ‘healthy’ rise of 3.4%.
 
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Overall, the combined capital city index declined 1.2% over the month of May after falling by 0.5% in April.  In other words, we’re on a downward slope with Rismark’s CEO Ben Skilbeck commenting that it could be “driven by vendors reducing their initial expectations in order to meet buyer offers.”
However, to come to this conclusion, you need to do more than simply theorise on the results as they’re set out on a spreadsheet.
I’ve had the advantage of negotiating with vendor’s over the past six months, and can quite confidently confirm, there has been no such decline in expectation – unless the property is compromised by location or interior design, most are enjoying a relative windfall in relation to last year’s expectations. And according to <a href="https://www.sqmresearch.com.au/graph_median_weeks.php?region=vic%3A%3AMelbourne&amp;type=c&amp;t=1" target="_blank">SQM’s weekly “vendor sentiment index,”</a> asking prices are – if anything – trending upwards which once again suggests there is demand in the market currently meeting expectation.
I’ve cautioned previously about this short term approach to statistics and I’m by no means alone in doing so. There has been plenty of criticism aimed at RP Data’s daily index for the apparent ‘mis match’ with other market indicators.
It seems the general consensus of opinion revolves around ‘lagging’ results which are collected and shuffled into the index at a later date.  This would make sense in light of the strong gains that were posted in the first quarter, but not immediately evident ‘on the ground’ – and it should be remembered that the ‘daily index’ is not seasonally adjusted, so data can be ‘noisy.’
RP Data have recently claimed they <a href="https://news.domain.com.au/domain/real-estate-news/are-house-prices-rising-or-falling-20130603-2nlqd" target="_blank">“ring up agents</a>” to get information of private sales, which would be a mammoth task considering most agents are highly unlikely to prioritise the reporting of private treaty sales information as soon as a contract is signed – if at all.  And yet this is what the accuracy of daily index relies upon – prompt agent reporting.  Without it, the results lag until the official ‘settled’ sales data filters through from the government (some three months ‘plus’ later.)
With this in mind, the degree of concentration given over to the index should be questioned.  Furthermore, until missing results have been collected, correlated and adjusted for seasonal distortions, it’s clearly not a reliable or timely indicator.
However, it’s fair to suggest the underlying fundamentals of our “to date” ‘market recovery’ are at best - weak. Credit growth has been hobbling along (in part due to the trend to ‘pay down’ debt) and although ABS April data shows the highest monthly uptake of home loans since November 2009, Westpac best summed it up best when they suggested the gains to be ‘underwhelming,’ commenting on the 0.7% decline (excluding refinancing) for owner occupiers, albeit year to date, they are up 11.4% (not a great result in light of the current low interest rate environment.)
Data from the Department of Sustainability &amp; Environment shows more mortgages in Victoria are being discharged than lodged and turnover – although moderately up with <a target="_blank" href="https://www.macrobusiness.com.au/2013/06/vic-transfers-mortgage-demand-still-depressed/">168,029 transfers taking place in the year to May 2013, up from the record low 167,200 transfers in the year to March 2013</a> –remains 13% below the decade average.
So what’s the fuel pushing both clearance rates and prices past reserve? Well – in a word (or two) – primarily speculation and a rush to invest anywhere that provides a greater return than stashing cash in a long term deposit account.
It’s clear, investors remain the most active demographic, with the value of investor finance commitments up by 1% in April, and 18% over the year - the highest level since January 2008, which would have a beneficial roll over effect for those relying on sales to ‘upgrade’ (which it should be noted, increases spending power without the need to increase borrowing levels.)
In a recent survey conducted by Mortgage Choice of a sample 1000 mortgage holders, 83% (roughly four out of five) voiced consideration to use the equity in their principle place of residence to purchase an investment property – the trend is strong.
With this in mind, you have to wonder how long the current ‘recovery’ in Melbourne (and for that matter some of our other states) will last – especially as questions of oversupply still hang on the horizon. Or perhaps Steve Keen best summed it up when he termed it a ‘suckers' rally?’
All in all let’s face it, as it stands, the market is imbalanced, with a proportionally lower percentage of first-home buyers, a desperate bid from investors for advantage from short term gains, and a construction industry calling out - somewhat desperately - for another rate cut.
Catherine Cashmore is a market analyst with extensive experience in all aspects relating to property acquisition.
 
 
 
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Despite recent signs of recovery the Melbourne property market remains imbalanced: Catherine Cashmore

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A seven-bedroom Eastwood house sold on the weekend for $1,695,000.
The 25 Denistone Road house (pictured below) had been listed with $1.5 million-plus hopes.
{yoogallery src=[images/stories/2013/06/june17eastwood]}
It was completed by an owner builder over the past two years.
Its McGrath selling agent Wayne Vaughan marketed <a href="https://www.mcgrath.com.au/buy/house-eastwood-nsw-2122/138103/?searchID=28746230" target="_blank">it as offering a contemporary abode of 55 squares on a 1,088 square metre block in walking distance to the Eastwood centre</a>.
There was competitive bidding for the home from families seeking multi-generational abodes.
It sold to a young couple of Chinese descent  with two young children. They also have family coming to live with them utilising the downstairs  area at the front of the home.
Another seven-bedroom house to sell recently was at Saratoga. The 105 Steyne Road house - with views over Brisbane Water from its deep waterfront holding - fetched $1,775,000 last week also through McGrath Central Coast agent Mat Steinwede.
He described it as a three level house with impressive outdoor leisure areas. The seven bedrooms included "massive main with spa ensuite and deck." There was also five modern bathrooms, a large home theatre and games room. The 743 square metre block cost $360,000 in 2007.
Arlington, a seven bedroom Galston house sold recently. The 36 Crosslands Road house (pictured below) sits on five acres.
{yoogallery src=[images/stories/2013/06/june17galston]}
There was a <a href="https://www.realestate.com.au/property-house-nsw-bella+vista-113475551" target="_blank">six bedroom Bella Vista house </a>also recently sold through Starr Partners Bella Vista for $1,135,000. The 85 Edgewater Drive house, which was built in 2005 after the block cost $530,000, also comes with a study. There were four fully tiled bathrooms. The master bedroom had a walk in wardrobe and en-suite and three bedrooms came with en-suite and walk in wardrobe.
{yoogallery src=[images/stories/2013/06/june17bellavista]}
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Seven-bedroom Eastwood home sale proves desire for multi-generational Sydney family homes

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The Toorak property, 16 St Georges Road is one of Melbourne’s most significant homes.
It sits on just about an acre, the home of LU Simon building company director Peter Devitt and his wife Jo and their family for many years.
It is being marketed internationally via a website and a <a href="https://www.16stgeorges.com/" target="_blank">short film</a> with a sound track called Beautiful Rose by composer Alex Khaskin. The lead actors were professionals, Gary Glenn and model/law student Millie Davis. Not sure about the labrador.
All co-ordinated by market leaders Goldeneye Media whose campaign secured 33,000 views in its first week.
Agent Ross Savas was talking around $20 million for the property on its listing late last year.
The Devitt's are off to a St Kilda Road apartment.
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The beautiful rose, 16 St Georges Road, Toorak remains listed

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A quick update on where the largest declines in residential property values have been experienced and where the largest capital gains have been recorded across the country.
The bar charts below show the top 30 statistical divisions nationally for the largest ‘peak to current’ decline in dwelling values (i.e. change in house and unit value from their respective market peak through to the end of May 2013) and the largest annual capital gains over the past five years (based on compounding growth rate).
The largest corrections have clearly been recorded across the coastal and lifestyle markets;  more particularly the largest declines are most concentrated across unit dwellings within these regions.  There are a variety of factors that have caused values to fall substantially in these areas:
<ul>
<li>Unit dwellings within the lifestyle regions generally show a larger proportion of investor owners and holiday home / second home owners.  In times of financial distress, the investment property or second home will often be the first to be divested.  A large number of properties were added to the market in these areas at a time when buyer demand was virtually non existent.</li>
<li>Additionally, unit dwellings within these markets are often more reliant on short term holiday rentals or long term rental demand from service workers associated with the tourism and retail sectors, both of which have shown weakness post GFC.</li>
<li>These markets were prime beneficiaries of the ‘sea change’ phenomenon where retirees or prospective retirees were driving migration and housing demand in these locations.  I would expect that this trend (and hence housing demand) has slowed substantially as many retirees and prospective retirees look to rebuild their wealth post GFC before embarking on their sea change.</li>
<li>There’s also the fact that most of these markets recorded a strong run up in values pre-2008 and were arguably overvalued.</li>
</ul>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/06/lawlessjune17one.jpg" alt="lawlessjune17one" width="407" height="580">
For those individuals who have aspired to own a holiday home or relocate to one of these lifestyle markets the buying opportunities are now looking much more affordable than they were back in 2007.
 
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The largest gains have generally been recorded across regional markets around the country, particularly those associated with the mining sector.  The Pilbara region of Western Australia stands out as recording the highest rate of capital gain at 19.8% per annum over the past five years.  This is clearly a spectacular return, however many of these mining regions are now showing a substantial slowdown in buyer demand as the resources sector transitions out of a very strong phase of infrastructure investment and growth.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/2013/06/lawlessjune17two.jpg" alt="lawlessjune17two" width="380" height="580">
Tim Lawless is national research director of <a href="https://www.myrp.com.au/" target="_blank" rel="nofollow">RP Data.</a>
 
 
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The pain and the big gains in Australian property values: RP Data's Tim Lawless

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It should be quite obvious by now that most Australians would agree that calling an election six months out has been nothing less than a diabolical economic disaster. On a daily basis consumers are being hit with an avalanche of misinformation which is paralysing consumer confidence within the Australian economy.
There is no better example than the relevance battle as newspapers morph their business models into the more consumer preferred online models. Newspapers will eventually cease Monday to Friday and move to the re-branded weekend editions with online publications broadcasting the working week.
A brand new environment that is fraught with danger given the survival model is based entirely on convincing investors these media initiatives will entice investors and pay wall subscribers. <a title="Media rivals facing a brave new world" href="https://www.theage.com.au/business/media-rivals-facing-a-brave-new-world-20130607-2nvh2" target="_blank">Media rivals facing a brave new world</a> which is a topic I find quite fascinating given if the pay wall strategies fail (which I think they will) the respective brands’ consumer integrity will collapse.
Online technologies are the new consumer addiction – just look at the Samsung vs Apple battle for example where it is abundantly clear that consumer communication is changing on a daily basis.
Last week we read <a title="jobless rate tipped to hit 10 – year high" href="https://www.theage.com.au/business/jobless-rate-tipped-to-hit-10year-high-20130612-2o4b0" target="_blank">jobless rate tipped to hit 10-year high</a> yet ninety minutes later we learn that the frequently compiled jobless rate went down to 5.5%. What we have today is a plethora of bad news which ends up contradicting itself – no better example than Western Australia being in recession (the week before last) only to see a correction a few hours later that it was not in recession.
Having said that I agree what Charlie Aitken wrote last week that – “what we need to put in context is that the East Coast of Australia has been in a “feels like” recession for five years.’’
I blame the federal government for this given in the <a title="March Quarter 2013 CEO Pulse" href="https://www.businessspectator.com.au/sites/default/files/arbitrary_files/456886/Business%20Spectator%20GA%20Research%20CEO%20Pulse%20Report_Qtr1_2013.pdf" target="_blank">March Quarter 2013 CEO Pulse</a> – the nation’s top chief executives’ scorecard for the government’s performance in managing the economy was down to 2.7 out of 10, which was the second lowest point it has been since Business Spectator began CEO Pulse in 2010. The lowest rating was 2.6 in Quarter 3, 2011.
“The World’s Greatest Treasurer” climbed onto his soapbox this week <a title="Swan slams recession talk " href="https://www.businessspectator.com.au/news/2013/6/13/politics/swan-slams-recession-talk" target="_blank">Swan slams recession talk </a>which was an understandable rebuke given in the case of the Australian economy he is to wield the ‘Midas Touch’. The problem for Australia’s treasurer is that <a title="business confidence stuck in a rut " href="https://www.smh.com.au/business/the-economy/business-confidence-stuck-in-a-rut-20130611-2o161" target="_blank">business confidence stuck in a rut </a>with the National Australia Bank business conditions index for May posting a minus 4 which was up from the minus 6 in April – despite a falling Australian dollar with record low interest rates.
Jessica Irvine filed a fantastic article on Business Spectator – <a title="Forty – three ways to boost productivity" href="https://www.businessspectator.com.au/article/2013/6/11/economy/forty-three-ways-boost-productivity" target="_blank">Forty-three ways to boost productivity</a> an amazing critique of the Australian business economy.
<img alt="simeonjune17one" height="357" width="470" src="/images/stories/2013/06/simeonjune17one.jpg">
<img alt="simeonjune17two" height="378" width="470" src="/images/stories/2013/06/simeonjune17two.jpg">
 
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The fascination with the Mosman market continues with houses and apartment listings continuing their downward spiral in terms of available properties. These same results are being mirrored in Cremorne and Neutral Bay listings. For those hoping for a post-election property bonanza you should consider this. At this stage the federal election is set for September 14 – on September 20 NSW goes into school holidays which conclude on October 9 so we expect a strong run of new stock in the lead-up to the election with vendors punting on a change of government.
Source: Australian Property Monitors
<h4>MOSMAN – 2088</h4>
• Number of houses on the market this time 2012 – 94 • Number of houses on the market last week – 81 • Number of houses on the market this week – 76 • Number of apartments on the market this time 2012 – 89 • Number of apartments on the market last week – 59 • Number of apartments on the market this week – 60
<h4>CREMORNE – 2090</h4>
• Number of houses on the market this time 2012 – 16 • Number of houses on the market last week – 8 • Number of houses on the market this week – 9 • Number of apartments on the market this time 2012 – 19 • Number of apartments on the market last week – 10 • Number of apartments on the market this week – 9
<h4>NEUTRAL BAY – 2089</h4>
• Number of houses on the market this time 2012 – 17 • Number of houses on the market last week – 12 • Number of houses on the market this week – 13 • Number of apartments on the market this time 2012 – 54 • Number of apartments on the market last week – 32 • Number of apartments on the market this week – 34
Surprise, surprise! For the financial year 2010/11 there was a $39 billion claim by Australian landlords in deductions which was an 18% increase on the previous financial year.
Hence an Australian Taxation Office – <a title="crackdown on landlords after surge in claims." href="https://www.smh.com.au/money/tax/crackdown-on-landlords-after-surge-in-claims-20130611-2o26i" target="_blank">crackdown on landlords after surge in claims.</a>
Parliament sits for the final time next week until the election – I (like many others) expect a spill with another prime minister being appointed – given the previous form guide this will happen next Wednesday night where the Governor General’s son-in-law will be the union chosen one.
The real estate industry will be hoping he calls an August 3 or 10 election.
Robert Simeon is a director of <a rel="nofollow" target="_blank" href="https://www.rwm.com.au/" title="RWM">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog <a rel="nofollow" target="_blank" href="https://www.rwm.com.au/news/" title="Virtual Realty News">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
 
 
 
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Strong run of new real estate stock expected for Mosman, Cremorne and Neutral Bay in lead-up to federal election: Robert Simeon

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The fortunes of Clive Palmer’s five-star Coolum Resort have sunk dramatically, a local tourism operative has claimed.
It follows Palmer renaming of the former Hyatt Regency Resort the 'Palmer Coolum Resort', the reported sacking of hundreds of workers and the loss of its premier event, the Australian PGA, which this year will be played at Royal Pines.
Noel Mooney, president of Coolum Business and Tourism, told The Australian that the original investment by Palmer was treated as a very good for the local economy but that things have since soured.
"Nothing (at the resort) seems to make sense now.
"Nothing flows or matches up. Occupancy there has been down to 2% and 3%
“Before (under Hyatt's management and higher occupancy) the tourists would venture out and spend money in the retail areas,” says Mooney.
Court documents obtained by The Australian from Palmer's battles with Hyatt in the Supreme Court last year reveal it had a much higher occupancy but was losing money when he bought it in mid-2011.
The mining billionaire and now political candidate in the seat of Fairfax <a href="https://www.propertyobserver.com.au/news/mining-magnate-clive-palmer-snaps-up-sunshine-coast-resort/2011070650722" target="_blank">acquired the five star former Hyatt Regency resort</a> and adjoining golf course from Lend Lease at Coolum on the Sunshine Coast in July 2011 and has since renamed it Palmer Coolum Resort.
Last year, Palmer severed ties with the Hyatt group, which had the management rights for the resort for 12 years.
The newly branded resort includes a portrait of the mining magnate in the lobby, a restaurant called the Palmer Grill and most recently, a new car museum with 30 vintage cars from Palmer's private collection including a 1954 Aston Martin.
He has reportedly scaled back plans for a dinosaur theme park.
 
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