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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Hi Margaret,
I am currently residing in Wisconsin, USA however I own a two-bedroom townhouse in north-western Sydney. I am interested in potentially selling this property with a view to buying a property in the USA. When, in your opinion, would be the optimum time to sell in Sydney in the next 6-18 months, and why? Thank you for any information and advice you may be able to provide. Kind Regards, Michael
 
Hi Michael,
I’d have to say that the optimum time to sell a property in Sydney is not likely to be in the coming 18 months at all!  Of course this will depend very much upon where your property actually is, but if it is somewhere around the Hills District, which I imagine it is since that is North Western Sydney, then this is an area which is slated to continue with some respectable growth.  
While the area has, over the past 15 years, had a population growth of almost twice that of Western Sydney, there is more to come yet. Industrial and office rents consistently rank well below the Sydney average, which means that business is well and truly attracted to the area. Purchase costs for commercial and industrial property also rank lower than the Sydney average and this should enhance employment growth.  
While question marks still hang over the development of good transport infrastructure, this must come, since the population is showing no signs of slowing down. There are some significant land releases planned which, for a time, may cause growth to hover a little, but an upward climb should still be seen.
In my opinion, I wouldn’t be likely to buy in right now, as to do so would be at the cost of buying into a market which will boom sooner, however I also would not be inclined to sell, unless you bought the property for a song and already have significant gains.  If that’s the case then selling now, or in 18 months’ time, won’t make a lot of difference.  If not, then I’d be hanging around for the gains likely to be seen over the coming 10 years.
Margaret Lomas is a best-selling author and writes and hosts the popularProperty Success With Margaret Lomas and heads up the panel on Your Money, Your Call, both on Sky News. She is the founder of <a rel="nofollow" target="_blank" href="https://destiny.com.au/dotnetnuke/en-au/home.aspx">Destiny</a>.
Have a property question? <a target="_blank" href="mailto:askmargaret@propertyobserver.com.au">Ask Margaret!</a>
 
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mlomas-KC9MUPZ6Ca

Ask Margaret: is there a good time to sell in Sydney soon?

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Sydney properties priced between $500,000 and $1.5 million could rise as much as 10% over 2013, says Australian Property Monitors senior economist and Dr Andrew Wilson.
Dr Wilson says low interest rates and increasing buyer confidence are the two key factors that could drive this portion of the market to outperform the prestige market and properties priced below $500,000.
The permabull market observer is sticking with his view that there will be an overall 3% to 5% gain in Sydney property prices in 2013 "though closer to 5 than 3".
Earlier this month, he tipped the property market to pick up a little in 2014 with gains of between <a target="_blank" href="https://www.propertyobserver.com.au/residential/house-prices-could-rise-up-to-7-in-2014-apms-andrew-wilson/2013050961167">5% and 7% forecast</a>.
“[The $500,000 to $1.5 million price bracket] is going to be the strongest portion of the market," Wilson told Fairfax media.
"There's a lot of activity from investors but very few first home buyers and the prestige market is still relatively flat."
The latest <a href="https://www.propertyobserver.com.au/trends/budget-woes-sees-consumer-sentiment-fall-to-lowest-since-august-2012-but-housing-sentiment-lifts-westpac-index-westpac-consumersentiment/2013052261575" target="_blank">Westpac-Melbourne Institute survey of consumer sentiment</a>, carried out after the May 7 rate cut recorded a carried a sharp 7% fall in the consumer confidence index from 104.9 in April to 97.6, pushing it back into a range where pessimists outnumber optimists for the first time since October 2012.
However, sentiment about the property market is much stronger with the ‘time to buy a dwelling’ sub-index lifting 11.2% in May to be up 20.7% over the past 12 months to 142.7.
Two years ago it was at 110.7.
“Households recognise the significance of the rate cut for housing activity along with evidence that a patchy upswing in dwelling prices is under way,” said Westpac chief economist Bill Evans.
Wilson says the revival of the Australia’s housing markets was confirmed 2012 with leading indicators such as rising auction clearance rates pointing to a market heating up.
Last weekend, Sydney’s auctions clearance rates hit new highs with 78.6% of houses sold at auction, the strongest result since early 2010, according to preliminary APM figures which will be updated tomorrow by APM.
Clearance rates have remained high all year, edging steadily higher again since Easter.
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lschlesinger-FZcF9M3vE6

Investor demand could spur 10% gain in mid-market Sydney property prices in 2013: APM’s Dr Andrew Wilson

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A former State Savings Bank which has been used as a set for the 2003 film Ned Kelly and featured in the Australian classic Mad Max was auctioned last weekend in the regional Victorian town of Clunes.
<a href="https://www.realestate.com.au/property-house-vic-clunes-113572131" target="_blank">The property</a>, which had been marketed by Jo Millar from AAG Property Consultants, was passed in at a bid of $550,000.
Constructed of rendered triple brick and built circa 1871, the building sits on a 794-square-metre block and has four bedrooms with a study, retail space with original cedar bank counter, cellar and bank vault.
Retaining its period style characteristics, the residence is a throwback to the past with its pressed metal ceilings, marble fireplaces, living area and maid’s room complete with bell and a cloak room. Downstairs the property has a kitchen, bank chambers, manager’s sitting room, the original steel plated walk in vault and a private backyard complemented by a 100-year-old pear tree.
Potential residents can also expect the stalwart security typical of banks with a monitored alarm system and CCTV cameras on the property.
Located 36 kilometres north of Ballarat, Clunes was home to Victoria’s first registered gold discovery by James Esmond which later paved the way for the establishment of the township and the first gold rush in Victoria.
Clunes is recognised as one of the most architecturally intact gold towns in the state, with the area producing up to 1.2 million ounces of gold from the 1850s through to 1893.
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Former bank used as a set for the film Ned Kelly, with a door signed by Heath Ledger, auctioned in Clunes

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Consumer confidence, raising financing and a lack of suitable development sites remains the biggest challenge facing the commercial property sector, according to the NAB March commercial property survey.
Respondents to the survey also have modest interest rate cut expectations over the next 12 months with just 10 basis points expected to be shaved from commercial lending rates.
While consumer confidence remains the biggest challenge facing the sector, just 14% of the 300 survey respondents – mainly commercial property owners, developers, managers and estate agents – identified it as such compared with 22% in the December 2012 quarterly survey and 20%, six months ago.
This could rise in the June quarter survey with <a href="https://www.propertyobserver.com.au/trends/budget-woes-sees-consumer-sentiment-fall-to-lowest-since-august-2012-but-housing-sentiment-lifts-westpac-index-westpac-consumersentiment/2013052261575?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">yesterday’s Westpac Melbourne Institute Index of Consumer Sentiment</a> falling by 7% from 104.9 in April to 97.6, pushing it back into a range where pessimists outnumber optimists for the first time since October 2012.
Tellingly for commercial property businesses, the biggest drop – 13.2% - was in the sub-index measuring sentiment about the economy over the next 12 months, which has fallen to 90.8 points, well below the 100 points neutral setting.
<img src="/images/stories/2013/consumer_sentiment_chart.jpg" width="470" height="290" alt="consumer_sentiment_chart">
Concerns about consumer confidence are greatest in Queensland (22% of respondents from that state) with Queensland also the state where industry sentiment is weakest.
In contrast, just 6% of respondents in South Australia/Northern Territory listed consumer confidence as a challenge.
The two other major challenges emerging from the survey are the ability for commercial property businesses to access funding or financing as well as the availability of property development sites for new projects or a lack of suitable sites.
Financing and funding challenges are greatest in South Australia/Northern Territory (19%) while the challenge of finding suitable development sites is greatest in WA (22%) and Victoria (16%).
The survey also asked respondents about the upcoming federal election with uncertainty about the September 14 poll a key concern, especially in Queensland (15%) and NSW (13%).
Concerns about government regulation and red tape increased slightly from the December quarter survey, but are down from a year ago.
The survey also found that around 19% of the survey panel anticipate higher interest rates in the next 12 months, 38% expect them to fall and 43% see no change.
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Consumer confidence, funding and lack of development sites the biggest challenges for commercial property businesses: NAB index

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New data confirms two things we’ve been tipping: the decline of Gladstone and the rise of Rockhampton.  
The downturn in Gladstone, after a couple of stellar years, is likely to be a short-term phenomenon. This city has a strong future as the nation’s No.1 industrial city, so investors who bought there in the past couple of years should avoid any feelings of panic.  
But there’s some short-term pain to be felt before the long-term gain. Developers have done what developers always do: they dive into growth markets and create too much new product.  
The extent of new housing supply is seen in the latest figures from the Real Estate Institute of Queensland, which records a vacancy rate close to 6% at the end of the March Quarter.  
That has taken the heat out of the Gladstone market and the REIQ’s price data for the March Quarter provides further evidence. After strong double-digit growth last year, there was no movement in the city’s median house price in the first three months of the year.  
There has been a similar transformation in another central Queensland regional city, Mackay. In the space of 12 months, Mackay’s vacancy rate has moved from 1.7% to 6.5%. The reasons are the same: developers became over-excited about the growth potential and built too much new product.  
My feelings about Mackay are similar to those about Gladstone: long-term, Mackay will deliver for anyone who owns property there. It has done so in the past and will do so again. The growth factors are strong, including expansion of port facilities to the south of the city. But in the near-term there will be a shake-out.  
It puts into focus the importance of always buying good real estate – property close to desirable things, like schools, shops and public transport – even when markets are pumping and it feels as if anything you buy will give you growth.  
Meanwhile, the third major regional city in central Queensland, Rockhampton, is having a different experience. It has lagged its two sexier neighbours in the past two years but now it’s coming into its period in the limelight. The REIQ data for the March Quarter shows a 7.8% rise in Rockhampton’s median house price.  
Rocky is often overlooked because so much attention is focused on Gladstone and, to a lesser extent, Mackay. But it has lots of offer.  
It has diversity in its economy, more so than Gladstone, based on its status as the administrative capital for the region and its links to the grazing and farming communities. If you believe the marketing, it’s the beef capital of Australia.  
It benefits from tourism, manufacturing, mining, construction and other economic sectors. It has a major power station, a couple of abattoirs and a large Queensland Rail workforce  
It’s also a lot more affordable than Gladstone or Mackay – and it’s not too difficult to find houses with rental returns above 6%.  
But investors need to cautious here, as much as anywhere else. There’s lots of new housing development in and around Rockhampton, notably out at nearby Gracemere, and investors need to research the amount of planned new supply before taking the big leap.  
Terry Ryder is the founder of <a target="_blank" href="https://www.hotspotting.com.au/">hotspotting.com.au</a>
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Rocky on the rise as Gladstone stumbles: Terry Ryder

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Westfield co-founder and chairman Frank Lowy has risen above mining boss Ivan Glasenburg to be Australia’s second richest with a $6.87 billion fortune, according to the 2013 BRW Rich List.
Top of the list is Gina Rinehart, worth $22 billion, but her fortune has slid $7.15 billion.
Last year Frank Lowy had a fortune of $6.47 billion, according to BRW magazine.
Barangaroo Casino developer James Packer is up from sixth to third with a $6 billion fortune.
Meriton boss Harry Triguboff, who turned 80 this year, has risen up one place from seventh to sixth with a fortune estimated at $4.95 billion up from $4.85 billion a year ago.
Shopping centre king John Gandel, is ranked eighth with a $3.7 billion fortune up from $3.35 billion while further down the list retailer Solomon Lew’s wealth has risen from $1.15 billion to $1.7 billion.
Glencore Xstrata chief executive Ivan Glasenberg's wealth declined from $7.4 billion in 2012 to $5.61 billion this year, ranking him fifth.
WA shopping centre magnate Stan Perron, whose Perron Investments Group paid a post-GFC record of $690.4 million to acquire a 50% share in a <a target="_blank" href="https://www.propertyobserver.com.au/retail/perron-group-to-acquire-half-stake-in-three-centro-centres-for-%24690-million-setting-post-gfc-commercial-retail-record/2012051754740">portfolio of three Centro flagship regional shopping centres</a> last May, has risen from 15th to 14th richest Australian with his personal fortune rising from $2.05 billion to $2.33 billion.
Propety developer Lang Walker, whose Walker Corporation is building the $1.3 billion Collins Square in Docklands as well as projects in Malaysia, Canada and the US, has slid from 13th to 18th richest Australian with his wealth declining marginally from $2.1 billion to $2.09 billion.
Melbourne-based shopping centre developer Maurice Alter, who developed the Rundle Place shopping mall in the Adelaide CBD, ranks 20th with a $1.78 billion fortune. Last year he also ranked 20th, but with a smaller $1.5 billion fortune.
Further down the list, Queensland property developer Kevin Seymour has ranked 82nd, worth $580 million. Last year he was worth $550 million and ranked 73rd.
Aussie Home Loans founder John Symond has fallen from 83rd richest Australian to 91st richest Australian, though his wealth has remained unchanged at $490 million. The mortgage broking business is now owned by the Commonwealth Bank.
Sydney-based hotel magnate Robert Magid, also the publisher of the Australian Jewish News, is worth $360 million, ranking him 130th richest Australian, down two places from 128th last year, when he was worth $330 million.
<a href="https://www.propertyobserver.com.au/queensland/nathan-tinkler-lists-indulgent-brisbane-acreage-mansion-tinkler-twowaterslides/2013052161547" target="_blank">Embattled coal baron Nathan Tinkler,</a> who has put his acreage mansion up for sale dropped out of the BRW Rich 200, which has an entry price of $235 million.
Last year the entry price was $210 million, just enough for Therese Rein to squeeze in.
Bottom place this year goes to Sydney fund manager David Paradice.
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Westfield’s Frank Lowy rises above Ivan Glasenberg as second richest Australian with Meriton’s Harry Triguboff up to sixth richest on 2013 BRW Rich list

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Cromwell Property Group has acquired a $405 million portfolio of New South Wales government offices.
New South Wales finance minister Greg Pearce says the seven office buildings sold for $100 million above expectations.
The portfolio includes two Sydney office towers – Bligh House and McKell Building – and office properties located in Wollongong, Newcastle and Queanbeyan.
The offices are 60% leased to long-term government tenants.
Only four bidders made the shortlist, including Charter Hall Group and Arena Investment.
The sale is the first stage of a multi-billion-dollar auction of New South Wales real estate assets.
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Cromwell secures $405 million government portfolio

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Shopping centre giant Westfield Group is reportedly in talks with US private investment firm Starwood Capital over a possible deal to sell seven of its US malls for in excess of US$1 billion.

A report on Reuters says the discussions are at an early stage.
In 2012, Westfield sold seven of its US malls to Starwood Capital, founded by US commercial property market king Barry Sternlicht for around $1 billion.
Westfield have not confirmed the talks.
Details of the discussions may be revealed at the Westfield AGM on May 29.
Westfield is looking to sell its non-core US assets to fund further mall developments in core markets.
Last month Westfield Group exited its troubled Brazilian joint venture, selling to their joint venture partner the Almeida Junior Family.
Earlier this year, Westfield entered into an agreement with O'Connor Capital Partners to form a US$1.28bn joint venture comprising a portfolio of six Westfield regional malls in Florida while disposing of its joint venture interest in Brazil.
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Westfield in negotiations to sell seven US malls to Barry Sternlicht’s Starwood Capital: Reuters

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Insolvency firm TPH Insolvency has leased the lower ground floor in heritage-listed History House, the Sydney headquarters of the Royal Australian Historical Society (RAHS) on Macquarie Street, designed by renowned 19th century architect George Allen Mansfield. 
The firm, set up this year by former SV Partners executive director Tim Heesh, will pay net rent of around $50,000 per annum at the 133 Macquarie Street address. 
This equates to around $350 per square metre per annum over the 140 square metre office space directly across the road from the Sydney Botanical Gardens. 
Ground floor space in the building is currently advertised for rent at $70,000 per square metre through Jeremy Piggin, office leasing director at Ray White Commercial who also negotiated the lease of the lower ground floor space. 
TPH Insolvency has taken up a one year lease with a one year renewal option. 
The office space has direct street entry and parking at the rear of the building. 
“The opportunity to occupy space with such historic, old world charm created a strong level of interest for this property from a wide variety of businesses,” says Piggins. 
“History House is one of CBD’s finest heritage buildings. The building offers additional well-proportioned Victorian rooms for functions and board meetings for members and tenants.” 
History House is believed to have been built around 1872 after being designed by George Allen Mansfield, who designed a number of Sydney institutions such as Royal Prince Alfred Hospital. 
“Originally a gentlemen’s residence, the house was used as a boarding house for many years before being purchased during the 1920s by distinguished surgeon Dr George Bell,” says Piggins. 
“The RAHS, which was founded in 1901, did not acquire History House until 1970. The house is now protected by a permanent conservation order and classified by the National Trust.”
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Insolvency firm leases ground floor in Sydney’s History House on Macquarie Street

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The Melbourne and Perth office markets are forecast to deliver the strongest returns to commercial property landlords over the next two years with both capital values and rents rising, according to the March quarter NAB Commercial Property survey.
An overall improvement in commercial property sentiment is noted in the report with gains in the office, retail and industrial sub-indexes.
The overall NAB Commercial Property Index rose 9 points in in the March 2013 quarter from -17 to -8 and is forecast to return to positive territory (optimists outnumbering pessimists) in the third quarter of 2013 with strong gains forecast in 2014 and 2015.
Apart from Queensland, where a softer resources market is likely having a negative impact on sentiment in the state, sentiment improved in all states, with the biggest movement in Victoria which is now expected to surpass WA in the next one to two years as the most optimistic state.
Whilst retail property recorded the biggest improvement in sentiment, it remains in negative territory (-27) with CBD hotels the only commercial property sector currently with a positive reading, though sharply down from +58 points in the December 2012 quarter to +6 in the March quarter.
<img src="/images/stories/2013/nab_comm_prop_index_2.jpg" width="470" height="279" alt="nab_comm_prop_index_2">
The outlook is brightest for office property with capital values expected to rise by 2.1% by March 2014 and 3.9% by March 2014.
Capital offices values in Victoria – predominantly the Melbourne CBD - are forecast to rise by 2.7% over the next 12 months and then by 4.2% over the following 12 months to March 2015.
Over this two-year time frame, Melbourne office rents are forecast to rise by a cumulative 5%.
In WA, office values – predominantly the Perth CBD – are forecast to rise by 3.5% over the next 12 months and then by 5.6% over the following 12 months to March 2015.
Perth rents are expected to rise by a cumulative 9% over the next two years.
There will also be strong gains in Sydney office values – 2.5% to March 2014 and 4.1% to March 2015 – but rents are expected to fall by 1.4% over the two-year period.
<img src="/images/stories/2013/NAB_comm_prop_index.png" width="470" height="281" alt="NAB_comm_prop_index">
These forecasts are based on the expectations of 300 commercial property agents, developers, fund managers, owners and investors with the report compiled by NAB chief economist Alan Oster together with NAB colleagues Robert De Iure and Dean Pearson.
As the outlook improves, more property developers surveyed reported plans to start new projects or developments in the near-term as fewer property professionals identified debt/equity funding as a problem.
Consumer confidence continues to be noted as the main challenge facing property firms in the next year but concerns about stock availability and the upcoming federal election are also growing.
Other key findings of the report:
<ul>
<li>Modest growth in retail capital values to resume in the next two years.</li>
<li>Gross rents fell in all markets over the quarter but at a slower rate.</li>
<li>Rents fell most for retail (-1.6%), with the best returns reported for industrial (-0.4%).</li>
<li>Expectations have strengthened, with industrial rents to grow 0.9% in the next year and 1.9% in the next two years.</li>
<li>Office rents are tipped to rise 0.4% and 1.5%, while retail rents are predicted to fall -1% and -0.1% in this period.</li>
</ul>
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