<a href="https://www.apartments.com.au/new-apartments/smith-by-valli-collingwood-224-228-smith-street-collingwood-vic-3066">Smith Collingwood</a> is a new boutique apartment development bringing a refined, design-led approach to one of Melbourne’s most established inner-city neighbourhoods.

Designed by <a href="https://www.apartments.com.au/architects/pandolfini-architects">Pandolfini Architects</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/lisa-buxton-interiors">Lisa Buxton</a>, Smith by Valli sits on iconic Smith Street and comprises just 22 residences tailored toward owner-occupiers seeking a more considered style of apartment living.

[smartcode_project:default project_id=140747 project_image_fid=367540]

The design of Smith focuses on a north-facing orientation across all residences, a relatively uncommon feature in dense inner-Melbourne settings. Each apartment has been planned to maximise natural light and outlook, alongside a material palette defined by warm tones, custom joinery, and a full suite of Gaggenau appliances.

The development comprises a mix of one, two, and three-bedroom apartments, with pricing currently ranging from just under $1 million to around $4.85 million for the premium penthouse-level residences, reflecting growing demand for luxury owner-occupier product in Melbourne’s inner urban market.

Residents will also have access to a private rooftop garden designed as an elevated retreat above the city, &nbsp;featuring curated landscaping, veggie boxes, intimate seating areas and spaces for relaxed gatherings. Sustainability has also been integrated into the project through a 7-star energy rating and two secure bicycle facilities for every residence.

[smartcode_project:default project_id=140747 project_image_fid=367529]

Smith by Valli sits in the heart of one of Melbourne’s most established retail and hospitality strips, within walking distance of venues such as Falco Bakery, Carnation Canteen and Alimentari, alongside parks and everyday services. With a Walk Score of 99, the location reinforces the project’s positioning toward buyers prioritising walkability and access over car dependency.

With only a limited number of residences, Smith reflects growing demand for smaller, highly curated apartment developments that prioritise design quality, liveability, and connection to neighbourhood character.

[smartcode_project_cta:default project_id=140747]

Joel Robinson

Smith by Valli delivers design-led apartments to Melbourne’s inner north

<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=365684]

Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

[smartcode_project:default project_id=509 project_image_fid=365687]

Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

[smartcode_project:default project_id=509 project_image_fid=365689]

The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

[smartcode_project_cta:default project_id=509]

Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

[smartcode_project:default project_id=146358 project_image_fid=323055]

Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

[smartcode_project:default project_id=146358 project_image_fid=323052]

The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

[smartcode_project_cta:default project_id=146358]

MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer BIG Projects brought in the renowned Sydney-based design studio YSG Studio to craft the interiors for The Frederick, BIG Projects' new Mermaid Beach project and YSG Studio's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for BIG Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

[smartcode_project:default project_id=110588 project_image_fid=5347]

Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

[smartcode_project:default project_id=110588 project_image_fid=5360]

Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.

[smartcode_project_cta:default project_id=110588]

Sydney’s YSG Studio makes Gold Coast multi-residential debut with BIG Projects at The Frederick

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

ALTA Property to deliver $200 million Queens Road 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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A mixed use site in Elwood with development potential has been listed.
The 336 square metre 63 &amp; 63A Glenhuntly Road property is currently home to a medical centre with five consulting rooms, as well as an apartment with a balcony.
The property has a combined $103,680 per annum return.
The Elwood Family Clinic has a permit to extend the practice to eight rooms. 
The property is located between Broadway and Ruskin streets  and is zoned Commercial 1, which promotes mixed use development including retail, office, business, entertainment and community uses, as well as residential. 
The marketing agents, Teska Carson’s George Takis and Larry Takis, said the area is seeing an upsurge in popularity with residential and commercial developments completed in recent years.
“This exceptional property is prominently positioned within the tightly held Elwood retail/commercial precinct, and within one of Melbourne’s most popular bayside residential areas,” George Takis said.
“The location benefits from excellent amenities including a plethora of retail, cafes, restaurants, recreational facilities, bayside beaches, and is only 7.5 kilometres from Melbourne’s CBD.”
The property will be auctioned onsite on Thursday, November 29 at 12pm. 
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j.ballantyne1990-6AQqhLzZaK

Mixed-use Elwood investment with extension permit set for auction 

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A near-new petrol station in Echuca has sold for $7.5million on a 6.5% yield.
Property industry players Peter Spargo and Bill Guest were the vendors of the 161-189 Ogilvie Avenue property.
It is leased to United Petroleum and Hungry Jacks until 2028 with options to extend.
The site contains a 1,191 square metre building on a 5,240 square metre site.
Colliers International’s Daniel Wolman, Anthony Kirwan and Harry Bui in conjunction with Melcorp Commercial’s Paul Jones and Tim Spargo sold the property via an expression of interest campaign.
“The collaborative approach to the sales campaign for this regionally located property proved to be highly successful, with multiple offers received at the conclusion of the EOI process,” Wolman said.  
“The successful purchaser, a private investor from Victoria, acquired the property for $7.5million, a sale price which reflects a tight regional yield of 6.7%. 
“The sale, which has set a new benchmark for the local property market, is another sign that despite a reported cooling in market conditions and funding concerns, the market is still awash with cash buyers and is highly competitive.” 
Kirwan said buyers were increasingly looking for alternative investment options. 
“The major appeal of this asset was the high calibre tenant covenant, fixed income growth and the fact that having been so recently developed, an astute buyer could reap the rewards of newly constructed improvements and great depreciation benefits,” he said. 
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Near-new Echuca service station sold for $7.5 million

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GUEST OBSERVATION
The Reserve Bank of Australia (RBA) has once again made the decision to keep the nation’s official cash rate on hold at 1.50%, reaffirming its long-running stance on monetary policy.
However, the official cash rate does not give a clear indication of what is happening with Australian home loan rates as lenders move their rates on a regular basis, pushing up borrowing costs for new and existing customers.
Following lenders’ recent out of cycle rate increases, mortgage rates edged higher in September, with the average discounted rate for owner occupiers rising from 4.50% to 4.55%, according to recent data from CoreLogic.
“Whether lenders’ rates will lift further is dependent on a number of economic factors and at present Australian economic conditions are positive on the whole and have given the RBA no reason to change its current position on monetary policy.
GDP growth has been above potential levels and business conditions are positive. The pace of increase in household indebtedness has slowed and the labour market is strong. While wage growth is benign, it is expected to grow. That being said, inflation continues to underperform market expectations and national dwelling values continue to ease. National Australia Bank’s Monthly Business Survey revealed that business conditions remained well above average and business confidence was around average levels in September. The latest Westpac Melbourne Institute Index of Consumer Sentiment revealed that consumer sentiment rose in September, however the recent leadership change in Canberra, increasing mortgage rates and declining house prices were weighing on confidence. The most recent Labour Force Survey from the Australian Bureau of Statistics (ABS) revealed that employment growth is strong. The unemployment rate of 5.0% is the lowest in over six years, and is largely considered to be the natural rate of unemployment in Australia. According to the most recent CoreLogic Hedonic Home Value Index, national dwelling values continue on their correction, taking the annual decline to 3.5% in October, signalling the weakest conditions since February 2012. The Australian Bureau of Statistics’ (ABS) September quarter Consumer Price Inflation (CPI) report revealed headline and core inflation remain below the bottom of the RBA board’s target band, giving them little incentive to alter the cash rate. In the minutes of the October monetary policy meeting, RBA board members reflected on the changes to lending standards and observed that standards could tighten further and competition for borrowers of high credit quality remained strong.
In a housing market where house prices are declining, home loan interest rates rising despite a stagnant official cash rate and home loan applications are being scrutinised more than ever before, it’s never been more important for prospective buyers to ensure they look good on paper and seek guidance from a qualified mortgage professional. Increasingly, Australian consumers are responding to the tightened lending environment by seeking the guidance of a mortgage broker. According to the Mortgage and Finance Association of Australia (MFAA), the broker channel is growing, with over 55% of new residential home loans originating through brokers in the March quarter 2018. Going forward, I would urge those looking to buy their first home or investment property, or looking to refinance an existing loan to speak to a mortgage broker first and early on in their home loan journey. 
SUSAN MITCHELL is the CEO of Mortgage Choice (pictured above).
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Policy makers make safe bet on cash rate: Mortgage Choice

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Median values reflect an estimate of the middle value of all residential properties within a market.
The median is useful for understanding the middle of the market, however across the metropolitan area of our cities there is great deal of diversity in housing values.
Sydney’s median dwelling value as at October 2018 was $833,876 and the SA4 region closest in median value was the Inner South West at $840,805.
Most of the areas that have a median value lower than that of greater Sydney are located some distance from the city centre while those with higher values are typically the areas closer to the city centre or along the coastline.
The city’s most affordable SA4 region is Outer South West ($602,246) and the most expensive is Northern Beaches ($1,383,461).
<img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20SYD.JPG" alt="">
 
Across Greater Melbourne, the median dwelling value is recorded at $665,044.
The city’s most affordable region is West ($578,922) and the most expensive region is Inner East ($1,127,558).
Outside of the highly desirable Eastern and Inner regions values are remarkably similar across the remaining Melbourne regions.
In fact, only the Inner East, Inner South and Outer East have median values that are higher than that of Greater Melbourne.
<img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20MEL.JPG" alt="">
Brisbane’s median dwelling value is currently $491,925.
While that is substantially lower than Sydney and Melbourne you can see that all of the regions relatively close to the city have current median values which are higher than that.
The most expensive region of the city is the West ($659,554) while the most affordable is Ipswich ($350,511).
Only three SA4 regions of the city actually have a median value which is lower than the city-wide median.
<img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20BRIS.JPG" alt="">
 
Greater Adelaide’s median dwelling value was recorded at $431,554 as at October making it the nation’s most affordable capital city housing market.
Throughout the city’s four SA4 regions, Central and Hills is noticeably more expensive than the rest and North is noticeably cheaper.
Central and Hills and West are more expensive than the city-wide median and South and North are cheaper.
<img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20ADL.JPG" alt="">
The Inner region of Perth is overwhelmingly the most expensive region of the city while Mandurah is substantially more affordable than all other Perth regions (note it sits on the southern outskirt of the city).
Greater Perth’s median dwelling value is $451,148 and most of the remaining regions of the city have median dwelling values which sit quite close to the city-wide median.
<img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20PER.JPG" alt="">
 
Greater Hobart doesn’t have any individual SA4 regions within the capital city boundary, so the chart provides a comparison in median dwelling values between Hobart and the other SA4 regions of the state.
Hobart is substantially more expensive than the rest of the state with the West and North West the most affordable.
The relatively affordable housing costs outside of Hobart are driving demand with the three regional SA4 regions of Tas having seen the highest rates of value growth nationally over the past year.
<img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20TAS.JPG" alt="">
In NT, there are only two SA4 regions; Darwin and NT-Outback. As the accompanying chart shows, outside of Darwin the cost of housing is substantially more affordable.
<img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20NT.JPG" alt="">
Overall, the data provided offers a more granular insight into how median values in each city compare to smaller regions across each city.
It also reiterates the importance of analysing markets within smaller geographic areas as housing costs or the housing market performance can be vastly different when you look at different areas of a city.
The data also highlights that desirable areas close to the city centre typically have much more expensive housing costs than the broad capital city median.
Although it is clichéd; location, location, location holds true and purchasers still pay a significant premium for well-located properties
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ckusher-ujnxiKuFQs

There is more to house prices than the median: Cameron Kusher

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Belgian construction player Besix has renewed its takeover intentions for the Brisbane-based Watpac.
It has lobbed a new $169 million cash bid.
Besix, already Watpac's largest shareholder, failed four months ago in a bid to secure two-thirds ownership of the ASX-listed contractor and mining services group.
However they lacked the support from fellow shareholders and were unable to get the plan approved.
If their bid is accepted, the Belgian builder has stated it would continue to operate the Australian company as a standalone business by retaining its brand and local identity.
"We continue to believe in the strong fundamentals of the Watpac business and are supportive of current management and their strategic direction," Besix chief executive Rik Vandenberghe, said.
Watpac's independent board committee has recommended the offer from Besix in the absence of a superior proposal emerging.
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Belgian builder Besix renews takeover attempt of mining company Watpac

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EXPERT OBSERVER
The recent Greater Sydney Commission policy on industrial and urban services land across Sydney is too narrow in its scope.
An ‘Information Note’ and a policy document from the Greater Sydney Commission’s (GSC) ‘Thought Leadership Series’ titled A Metropolis that works outlines the GSC’s policy on employments lands and advises planning authorities to take a very narrow view of land use across metropolitan Sydney.
The advice is issued in a pre-election environment where concerns have been expressed by some community groups about the extent of apartment development in Sydney.
While the GSC’s policy picks up on the Greater Sydney Region Plan objective on industrial and urban services land it does not refer to the exception to the objective for the Parramatta Road area as outlined on page 133 of the Region Plan.
This leaves land owners in an uncertain position on the relevance of the Parramatta Road Corridor Urban Transformation Strategy which gave clear envelopes and new uses for current industrial land in the corridor.
The GSC document implies that there is a significant shortage of industrial land across Sydney but major areas are planned for industrial use south west of the Western Sydney Aerotropolis, the extension to the Western Sydney Employment Hub and areas of proposed industrial land in the North West and South West of Sydney.These land areas need to be released.
The Urban Taskforce believes that the proposed ‘retain and manage’ approach to industrial land in the Eastern City is too restrictive and will eliminate many sites that could provide large precinct developments that incorporated jobs, infrastructure including parks, child care, health and community centres and residential development.
Community concerns about the extent of apartment development in Sydney can be partly resolved by incorporating infrastructure, parks and community services for education and health within a mixed use development.
An example is East Village in Zetland that incorporates a car service centre, a medical centre, a Montessori Academy and a supermarket as well as a sky park and 206 apartments.
Another example is Central Park on Broadway where child care, health centres, parks and community facilities are provided along with the apartments.”
The Urban Taskforce proposes a new approach to balancing Sydney’s growth along with the need for urban services and industrial uses as outlined in our 6 point plan:
1. Ensure that at least 10,000 hectares of industrial land is zoned in North West and South West Sydney and around the Aerotropolis.
2. Release fifty percent of the Retain and Manage industrial land in the Eastern City and the Central City for mixed use development that includes urban service uses.
3. Identify industrial land in the Eastern City and the Central City that is economically unviable but would provide sites for mixed use precincts with significant housing as well as jobs.
4. Develop a more detailed analysis of urban service uses that are compatible with mixed use development and define the percentage of job producing areas within mixed use zoning.
5. Develop a more detailed analysis of industrial uses and their preferred location in the city including freight and logistics.
6. Establish a high level assessment body to give guidance to land owners and developers on which lands are appropriate for mixed use development that includes urban services.
The Urban Taskforce is developing its own Thought Leadership Report on the changing nature of jobs in metropolitan Sydney and where industrial and urban service jobs are best located.
The report will also look at ways to diffuse the current concerns about new apartment development by proposing an approach that can provide infrastructure and community uses with a mixed use development that also includes jobs.
Chris Johnson is the Urban Taskforce CEO 
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Greater Sydney Commission approach to industrial land is too narrow: Chris Johnson

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EXPERT OBSERVATION
<div>A big jump in listings in Melbourne and Canberra this month, with Melbourne's available stock now comfortably exceeding 39,000, according to SQM Research's latest data and media release.</div>
<div> </div>
<div>There were small declines in October for Brisbane, Adelaide, and notably Darwin and Perth.</div>
<div>
 But the two major capital cities are well up from last year.</div>
<div> </div>
<div><a href="https://1.bp.blogspot.com/-28-ipGfRnqI/W-DpkBGNtnI/AAAAAAAAssA/T0C2fxMYRVY1XCtva9nrk-Ijs1nJBnIeACLcBGAs/s1600/SQM1.jpg"><img src="https://1.bp.blogspot.com/-28-ipGfRnqI/W-DpkBGNtnI/AAAAAAAAssA/T0C2fxMYRVY1XCtva9nrk-Ijs1nJBnIeACLcBGAs/s640/SQM1.jpg" width="640" height="370" data-original-height="798" data-original-width="1375"></a></div>
<div>
 It took a bit longer to get there, but Melbourne has now well and truly joined Sydney with its slowing market, with stock levels leaping 5.9 per cent higher in the month of October alone.</div>
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<div class="separator"><a href="https://4.bp.blogspot.com/-w3AiiL_6oLo/W-Dpkbv6LhI/AAAAAAAAssE/VWGYlMduTKUq5m_Tfp7jcGYyZQUr1vfVwCLcBGAs/s1600/SQM2.jpg"><img src="https://4.bp.blogspot.com/-w3AiiL_6oLo/W-Dpkbv6LhI/AAAAAAAAssE/VWGYlMduTKUq5m_Tfp7jcGYyZQUr1vfVwCLcBGAs/s640/SQM2.jpg" width="640" height="376" data-original-height="799" data-original-width="1360"></a></div>
From a year earlier, Melbourne listings are up by 24.3 per cent, suggesting very slow sales activity in the Victorian capital.
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Melbourne stock surge: Pete Wargent

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NSW Land Registry Services has committed to lease one and a half floors at 175 Liverpool Street, in the southern end of the Sydney CBD.
Savills Australia’s Rob Dickins negotiated the term of five years and six months at a rate of $985 per sqm, saying the tenant was attracted to the prominent A-grade quality of the building.
“Offices in 175 Liverpool Street have panoramic views over Hyde Park to the harbour and provide spacious, fitted-out accommodation,” Mr Dickins said.
<img src="https://www.urban.com.au/images/2018/11/7/Liverpool%202.JPG" alt="">
The office tower has retail on the ground floor, a large underground parking station, and modern end-of-trip facilities.
NSW Land Registry Services will relocate from the land titles office opposite St Mary’s Cathedral on April 1, 2019.
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Savills negotiates relocation to Liverpool Street for NSW Land Registry Services

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The former Melbourne home of collapsed wedding reception service The Willows has hit the market with $9.5 million expectations by the landlord.
The venue manager Lewis Hospitality Management, the previous tenant at <a href="https://www.commercialrealestate.com.au/property/462-st-kilda-road-melbourne-3004-vic-3004-2014737395" target="_blank">462 St Kilda Road</a>, went into liquidation in June when 64 couples were collectively left more than $300,000 out of pocket, The Age reported.
Constructed in 1890, the heritage-listed building, known as Rathgael, was built for bookmaker Leon Cohen as 16-room brick house.
<a href="https://www.commercialrealestate.com.au/news/wp-content/uploads/2018/11/willows.jpg"><img class="size-full wp-image-60014 aligncenter" src="https://www.commercialrealestate.com.au/news/wp-content/uploads/2018/11/willows.jpg" alt="The building, Rathgael, was built in 1890. Photo: Supplied" width="709" height="533"></a>
The listing agents suggest the 987 sqm site would be attractive as offices, retail, and hospitality or for further development, subject to council approval.
It is one of very few mansions remaining that shows the extravagant prestige of the era.
<a href="https://www.commercialrealestate.com.au/news/wp-content/uploads/2018/11/willows-2.jpg"><img class="size-full wp-image-60015 aligncenter" src="https://www.commercialrealestate.com.au/news/wp-content/uploads/2018/11/willows-2.jpg" alt="The venue could be reused for hospitality services. Photo: Supplied" width="709" height="533"></a>
With a seven day, on-site liquor permit, the freestanding property has an outdoor area fronting 29 metres of St Kilda Road, as well as a commercial kitchen.
The property is being marketed through a public tender campaign, closing November 29 through co-agents Colliers International and Allard Shelton by its owners, the Aswani family, which has held it as an investment asset for 20 years.
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Former Melbourne home of collapsed wedding reception venue, The Willows, for sale

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The fundamentals of the Parramatta market are robust, with a growing office workforce and continued increase in the resident population making the city an attractive retail location, according to Ray White’s latest Between the Lines commercial research.
The CBD is in the midst of a development boom and the construction of new commercial and residential towers, together with transport improvements have disrupted the city.   Ray White Commercial’s Head of Research Vanessa Rader said the developments will continue for the next few years, with the major light rail project closing streets and unlikely to be completed until 2023, but it will be worth the wait.   Ms Rader noted, “the high occupancy and growing rents achieved across the Prime Parramatta retail strip are encouraging, with the continued demand highlighting the long-term longevity apparent in this location.” She said the leasing market across the Parramatta CBD strip retail market has been mixed during 2018 and that while demand is high, the uncertainty surrounding the extent of disruption to trade has made negotiations more difficult.
Their research found that gross face rents recorded growth over the past 12 months of 3.54 per cent across the total market.   Ms Rader said Ray White Commercial had surveyed the Prime Church Street retail strip, with the location divided into two zones*.   “Across the total Parramatta Prime strip, vacancy is recorded at just 6.35 per cent. The larger Zone 1 is outperforming, with a vacancy of 5.55 per cent compared to Zone 2, at 10.89 per cent,” she said.
<a href="https://www.propertyobserver.com.au/images/2018/11/6/parramatta%201.jpg" target="_blank">Click here</a> to enlarge:
<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/2018/11/6/parramatta%201.jpg" alt="">
Source: Ray White   “While cafés and restaurants are the main operators along the Church Street strip, the remaining mix is quite different.   “Zone 1 has a total of 43.62 per cent of all space devoted to food retailing, with services featured high at 19.67 per cent.
<a href="https://www.propertyobserver.com.au/images/2018/11/6/parramatta%202.jpg" target="_blank">Click here</a> to enlarge:
<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/2018/11/6/parramatta%202.jpg" alt="">   “This zone also has a somewhat even split to other retailers being clothing and soft goods, personal and household goods and recreational goods representing approximately 8 per cent of the total floorspace each.   “Along Zone 2 we see a greater reliance on food retailing, accounting for 45.91 per cent with a larger grocery component. Services also dominate, representing 41.25 per cent of space given the existence of the council offices and other banks/professional services.”   The ongoing development across the CBD, most notably the light rail project, has raised some concerns by owners regarding the disruption it will cause to their tenancies.
<a href="https://www.propertyobserver.com.au/images/2018/11/6/parramatta%203.jpg" target="_blank">Click here</a> to enlarge:
<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/2018/11/6/parramatta%203.jpg" alt="">   Despite this, the future benefits of this and other development across the Parramatta CBD will ensure that this location remains a vibrant retail hub into the future.
<a href="https://www.propertyobserver.com.au/images/2018/11/6/parramatta%204.jpg" target="_blank">Click here </a>to enlarge:
<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/2018/11/6/parramatta%204.jpg" alt="">   *Zone 1 being the area from Parramatta River to the train line (including mall fronted properties) while Zone 2, which is known as the Chinatown end of Church Street, includes the street front retail (excluding Westfield tenancies) up to Campbell Street.In total this represents just shy of 35,000 sqm with 85 per cent represented in the Zone 1 precinct.
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