The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Melbourne

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A record $12.08 million has been paid for a trophy home on Canterbury's Monomeath Avenue.
The sale price of 12 Monomeath to Yi Qian came on recent settlement of the three level trophy home, lift-accessed from its eight car basement.
It is a Phillip Mannerheim designed home, with interiors designed by the late Stuart Rattle, within Paul Bangay gardens. 
<a href="https://www.realestateview.com.au/Real-Estate/monomeath-avenue-canterbury/Property-Details-sold-residential-8294206" target="_blank">The six bedroom, six bathroom home</a> sold through Kay &amp; Burton agent Scott Patterson in conjunction with Melbourne Deluxe Real Estate agent Paul Pfeiffer.
The prior known record was $12 million for another trophy home on Canterbury's Monomeath Avenue.
Ross Savas at Kay &amp; Burton described it (below) as a <a href="https://kayburton.com.au/properties/view/217254-canterbury-sale" target="_blank">majestic residence reminiscent of European chateaus</a>.
<img src="https://images.listonce.com.au/listings/canterbury-vic-3126/254/00217254_img_01_1600x.jpg?1" style="line-height: 1.3em;">
<div>
It came with a pool and north/south tennis court, and even vegie and herb gardens.
It bettered a $10.6 million Canterbury record set just one week earlier on Mont Albert Road.
The $12 million purchasers were Hongmin and Lifang Wang who bought from Mark Waldron.
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jchancellor-FAypfDUnLy

Monomeath Avenue, Canterbury's new $12.08 million record European chateau sale

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Orb House in Kew, the noteworthy Bojan Simic Architecture-designed contemporary home, has been relisted for sale.
It last sold for $4,928,000 in late 2014. It's latest price guidance is $5 million plus through GreenLand Property Group whose marketing is aimed at the Chinese.
"Orb House is located in the Kew region of Melbourne, one of Melbourne’s oldest and richest of the rich areas, historic, just 5 km from the city centre, south-east of Melbourne," it suggested..
It has been listed by Chinese buyers, James Tan and Liping Liu from Applecross, Perth who set up Treasure Prosperity Pty Ltd as their purchasing company.
<img src="https://mmbiz.qpic.cn/mmbiz/xyH8gY4weMYxIJ1Tyuc8T5iaNU0jsMLlNZLqcArlBKFcsZ4jSeBMtOHoqa71t8ppJic8zOyeFL6n4VEPJoIcRbQQ/640?tp=webp&amp;wxfrom=5" alt="" data-s="300,640" data-type="jpeg" data-src="https://mmbiz.qpic.cn/mmbiz/xyH8gY4weMYxIJ1Tyuc8T5iaNU0jsMLlNZLqcArlBKFcsZ4jSeBMtOHoqa71t8ppJic8zOyeFL6n4VEPJoIcRbQQ/0" data-ratio="0.751578947368421" data-w="475">
It first sold for $5 million in early 2011.
<img src="https://mmbiz.qpic.cn/mmbiz/xyH8gY4weMYxIJ1Tyuc8T5iaNU0jsMLlN9ztUic6WAyfSACVV5b8BtkyroXAbibBr8QHopicGDXMhph7rs2ejrA5Sg/640?tp=webp&amp;wxfrom=5" alt="" data-s="300,640" data-type="jpeg" data-src="https://mmbiz.qpic.cn/mmbiz/xyH8gY4weMYxIJ1Tyuc8T5iaNU0jsMLlN9ztUic6WAyfSACVV5b8BtkyroXAbibBr8QHopicGDXMhph7rs2ejrA5Sg/0" data-ratio="0.631578947368421" data-w="475">
Set high on the hill in Kew, it was built during 2009 by WAF Constructions on its 582 square metres block at 52a Molesworth Street.
It is four bedrooms and five bathrooms, with 495 square metres of space with a facade a huge wall of glass. There is a giant circle cut-out on the wall behind and a staircase forming an exaggerated zigzag below. 
It was shortlisted for the Australian Institute of Architects 2010 Victorian Awards.
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Architectural gem Orb House, Kew returns to market

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The REIV report the median number of days on market increased in June to 36 days from a revised 34 days in the previous month.
<a href="https://www.reiv.com.au/Property-Research/~/media/Files/Days%20on%20Market/DOM%20June%202015%20image.ashx" target="_blank"></a>
<a href="https://www.reiv.com.au/Property-Research/~/media/Files/Days%20on%20Market/DOM%20June%202015%20image.ashx" target="_blank">Click to enlarge</a>
<a href="https://www.reiv.com.au/Property-Research/~/media/Files/Days%20on%20Market/DOM%20June%202015%20image.ashx" target="_blank"> </a>
 <a href="https://www.reiv.com.au/Property-Research/~/media/Files/Days%20on%20Market/DOM%20June%202015%20image.ashx"><img src="https://www.reiv.com.au/Property-Research/~/media/Files/Days%20on%20Market/DOM%20June%202015%20image.ashx?h=354&amp;w=600&amp;as=1" alt="" width="600" height="354"></a>
 
Source <a href="https://www.reiv.com.au/Property-Research/Days-on-Market" target="_blank">REIV</a>
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Slower residential private treaty sales as Melbourne endures winter months

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There were 78 suburbs in Melbourne that had a median house price in excess of a million dollars in June quarter 2015. Of these, 38 suburbs had more than 30 sales in the quarter, according to the REIV.
There were 10 new entrants to this list over the quarter: Heidelberg, Bulleen, Ashwood, Donvale, Doncaster East, Abbotsford, Vermont South, Hughesdale, Templestowe Lower and Blackburn North. 
Another seven suburbs - Portsea, Eaglemont, Caulfield, Murrumbeena, Fairfield, Strathmore and Warrandyte - returned to the list in the three months to June 30.
<div id="pagecontentphd_0_maincontentmanagerphd_0_leftColPnl" class="left-col">
<div id="pagecontentphd_0_maincontentmanagerphd_0_mainContentPnl">
<div class="wysiwyg">
<table dir="ltr" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td data-sheets-value='[null,2,"Suburb"]'>Suburb</td>
<td data-sheets-value='[null,2,"Jun-15 Median"]'>Jun-15 Median</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"TOORAK"]'>TOORAK</td>
<td data-sheets-value="[null,3,null,3400000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$3,400,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MIDDLE PARK*"]'>MIDDLE PARK*</td>
<td data-sheets-value="[null,3,null,2840000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$2,840,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CANTERBURY"]'>CANTERBURY</td>
<td data-sheets-value="[null,3,null,2499000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$2,499,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MALVERN"]'>MALVERN</td>
<td data-sheets-value="[null,3,null,2345000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$2,345,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CAMBERWELL"]'>CAMBERWELL</td>
<td data-sheets-value="[null,3,null,2114000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$2,114,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BALWYN"]'>BALWYN</td>
<td data-sheets-value="[null,3,null,2105888]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$2,105,888</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ARMADALE*"]'>ARMADALE*</td>
<td data-sheets-value="[null,3,null,2053500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$2,053,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HAWTHORN EAST"]'>HAWTHORN EAST</td>
<td data-sheets-value="[null,3,null,2040000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$2,040,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BALWYN NORTH"]'>BALWYN NORTH</td>
<td data-sheets-value="[null,3,null,2000000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$2,000,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HAWTHORN"]'>HAWTHORN</td>
<td data-sheets-value="[null,3,null,1932500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,932,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CAULFIELD NORTH*"]'>CAULFIELD NORTH*</td>
<td data-sheets-value="[null,3,null,1927500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,927,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MONT ALBERT*"]'>MONT ALBERT*</td>
<td data-sheets-value="[null,3,null,1877000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,877,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PORTSEA*"]'>PORTSEA*</td>
<td data-sheets-value="[null,3,null,1862500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,862,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"KEW"]'>KEW</td>
<td data-sheets-value="[null,3,null,1860000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,860,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BRIGHTON"]'>BRIGHTON</td>
<td data-sheets-value="[null,3,null,1860000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,860,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"GLEN IRIS"]'>GLEN IRIS</td>
<td data-sheets-value="[null,3,null,1842500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,842,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SURREY HILLS"]'>SURREY HILLS</td>
<td data-sheets-value="[null,3,null,1800000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,800,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"EAGLEMONT*"]'>EAGLEMONT*</td>
<td data-sheets-value="[null,3,null,1765000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,765,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"KEW EAST*"]'>KEW EAST*</td>
<td data-sheets-value="[null,3,null,1749500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,749,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ALBERT PARK*"]'>ALBERT PARK*</td>
<td data-sheets-value="[null,3,null,1710000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,710,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SOUTH YARRA"]'>SOUTH YARRA</td>
<td data-sheets-value="[null,3,null,1662500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,662,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BRIGHTON EAST"]'>BRIGHTON EAST</td>
<td data-sheets-value="[null,3,null,1600888]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,600,888</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MALVERN EAST"]'>MALVERN EAST</td>
<td data-sheets-value="[null,3,null,1599000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,599,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HAMPTON"]'>HAMPTON</td>
<td data-sheets-value="[null,3,null,1580000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,580,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ELWOOD*"]'>ELWOOD*</td>
<td data-sheets-value="[null,3,null,1550000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,550,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CAULFIELD*"]'>CAULFIELD*</td>
<td data-sheets-value="[null,3,null,1536500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,536,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BOX HILL*"]'>BOX HILL*</td>
<td data-sheets-value="[null,3,null,1535000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,535,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ELSTERNWICK*"]'>ELSTERNWICK*</td>
<td data-sheets-value="[null,3,null,1530000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,530,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MCKINNON*"]'>MCKINNON*</td>
<td data-sheets-value="[null,3,null,1529000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,529,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"IVANHOE EAST*"]'>IVANHOE EAST*</td>
<td data-sheets-value="[null,3,null,1525000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,525,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ASHBURTON*"]'>ASHBURTON*</td>
<td data-sheets-value="[null,3,null,1525000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,525,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MONT ALBERT NORTH*"]'>MONT ALBERT NORTH*</td>
<td data-sheets-value="[null,3,null,1470000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,470,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PORT MELBOURNE"]'>PORT MELBOURNE</td>
<td data-sheets-value="[null,3,null,1445000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,445,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BEAUMARIS"]'>BEAUMARIS</td>
<td data-sheets-value="[null,3,null,1440000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,440,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SANDRINGHAM*"]'>SANDRINGHAM*</td>
<td data-sheets-value="[null,3,null,1430000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,430,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BLACK ROCK*"]'>BLACK ROCK*</td>
<td data-sheets-value="[null,3,null,1387500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,387,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MOUNT WAVERLEY"]'>MOUNT WAVERLEY</td>
<td data-sheets-value="[null,3,null,1331500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,331,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PARK ORCHARDS*"]'>PARK ORCHARDS*</td>
<td data-sheets-value="[null,3,null,1331300]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,331,300</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"TEMPLESTOWE"]'>TEMPLESTOWE</td>
<td data-sheets-value="[null,3,null,1300000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,300,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ABERFELDIE*"]'>ABERFELDIE*</td>
<td data-sheets-value="[null,3,null,1300000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,300,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"FITZROY*"]'>FITZROY*</td>
<td data-sheets-value="[null,3,null,1295000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,295,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"FITZROY NORTH"]'>FITZROY NORTH</td>
<td data-sheets-value="[null,3,null,1282000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,282,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BURWOOD"]'>BURWOOD</td>
<td data-sheets-value="[null,3,null,1271000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,271,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CAULFIELD SOUTH"]'>CAULFIELD SOUTH</td>
<td data-sheets-value="[null,3,null,1264000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,264,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"GLEN WAVERLEY"]'>GLEN WAVERLEY</td>
<td data-sheets-value="[null,3,null,1260000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,260,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ORMOND*"]'>ORMOND*</td>
<td data-sheets-value="[null,3,null,1258500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,258,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ESSENDON"]'>ESSENDON</td>
<td data-sheets-value="[null,3,null,1250000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,250,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BENTLEIGH"]'>BENTLEIGH</td>
<td data-sheets-value="[null,3,null,1250000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,250,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SOUTH MELBOURNE*"]'>SOUTH MELBOURNE*</td>
<td data-sheets-value="[null,3,null,1250000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,250,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ST KILDA*"]'>ST KILDA*</td>
<td data-sheets-value="[null,3,null,1245000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,245,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CARNEGIE*"]'>CARNEGIE*</td>
<td data-sheets-value="[null,3,null,1230000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,230,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MURRUMBEENA*"]'>MURRUMBEENA*</td>
<td data-sheets-value="[null,3,null,1221500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,221,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PRAHRAN"]'>PRAHRAN</td>
<td data-sheets-value="[null,3,null,1216000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,216,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BLACKBURN"]'>BLACKBURN</td>
<td data-sheets-value="[null,3,null,1215000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,215,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CARLTON*"]'>CARLTON*</td>
<td data-sheets-value="[null,3,null,1208500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,208,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ST KILDA EAST*"]'>ST KILDA EAST*</td>
<td data-sheets-value="[null,3,null,1208000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,208,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"DONCASTER"]'>DONCASTER</td>
<td data-sheets-value="[null,3,null,1185000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,185,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"IVANHOE*"]'>IVANHOE*</td>
<td data-sheets-value="[null,3,null,1175000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,175,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HEIDELBERG*"]'>HEIDELBERG*</td>
<td data-sheets-value="[null,3,null,1168000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,168,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BULLEEN"]'>BULLEEN</td>
<td data-sheets-value="[null,3,null,1168000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,168,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BOX HILL SOUTH*"]'>BOX HILL SOUTH*</td>
<td data-sheets-value="[null,3,null,1164750]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,164,750</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"RICHMOND"]'>RICHMOND</td>
<td data-sheets-value="[null,3,null,1162500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,162,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CARLTON NORTH*"]'>CARLTON NORTH*</td>
<td data-sheets-value="[null,3,null,1160000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,160,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ASHWOOD*"]'>ASHWOOD*</td>
<td data-sheets-value="[null,3,null,1157500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,157,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"FAIRFIELD*"]'>FAIRFIELD*</td>
<td data-sheets-value="[null,3,null,1147000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,147,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"DONVALE"]'>DONVALE</td>
<td data-sheets-value="[null,3,null,1140000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,140,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BOX HILL NORTH"]'>BOX HILL NORTH</td>
<td data-sheets-value="[null,3,null,1137500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,137,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"DONCASTER EAST"]'>DONCASTER EAST</td>
<td data-sheets-value="[null,3,null,1101888]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,101,888</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"WARRANDYTE*"]'>WARRANDYTE*</td>
<td data-sheets-value="[null,3,null,1100000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,100,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"WILLIAMSTOWN"]'>WILLIAMSTOWN</td>
<td data-sheets-value="[null,3,null,1076500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,076,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"STRATHMORE*"]'>STRATHMORE*</td>
<td data-sheets-value="[null,3,null,1074000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,074,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CLIFTON HILL*"]'>CLIFTON HILL*</td>
<td data-sheets-value="[null,3,null,1055000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,055,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ABBOTSFORD*"]'>ABBOTSFORD*</td>
<td data-sheets-value="[null,3,null,1043000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,043,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MOONEE PONDS"]'>MOONEE PONDS</td>
<td data-sheets-value="[null,3,null,1030000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,030,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"VERMONT SOUTH"]'>VERMONT SOUTH</td>
<td data-sheets-value="[null,3,null,1015000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,015,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HUGHESDALE*"]'>HUGHESDALE*</td>
<td data-sheets-value="[null,3,null,1001000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,001,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"TEMPLESTOWE LOWER"]'>TEMPLESTOWE LOWER</td>
<td data-sheets-value="[null,3,null,1000500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,000,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BLACKBURN NORTH*"]'>BLACKBURN NORTH*</td>
<td data-sheets-value="[null,3,null,1000000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,000,000</td>
</tr>
</tbody></table>
 Source <a href="https://www.reiv.com.au/Property-Research/Median-Prices/Million-dollar-suburbs" target="_blank">REIV</a>
 
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Blackburn North to Toorak - Melbourne's $1 million dollar plus suburbs: REIV

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<div class="wysiwyg">
Melbourne's buoyant inner city property market secured 13.6% annual price growth, according to REIV chief executive officer Enzo Raimondo who said the market continued to reach new levels during the current boom.
The overall metro Melbourne median house price of $706,000 was up 6.3% annually, he said.
Growth within inner suburbs recorded an increase of 6.2% just in the recent quarter.
He said that the number of million dollar suburbs across the city skyrocketed to 78 this quarter – 16 more than in the previous (March) quarter
Regional Victoria also had smaller price increases, with the median price of a home in regional Victoria increasing in the June quarter, up 1.5% to $346,000. 
June Quarter 2015 Metropolitan Median Prices  
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<table dir="ltr" border="1" cellspacing="0" cellpadding="0">
<colgroup>
<col width="152">
<col width="152">
<col width="156">
<col width="132">
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<td data-sheets-value='[null,2,"Metro Melbourne"]'>Metro Melbourne</td>
<td data-sheets-value='[null,2,"Jun-15 Quarter"]'>Jun-15 Quarter</td>
<td data-sheets-value='[null,2,"Quarterly change"]'>Quarterly change</td>
<td data-sheets-value='[null,2,"Mar-15 Quarter"]'>Mar-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual change"]'>Annual change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"House"]'>House</td>
<td data-sheets-value="[null,3,null,706000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$706,000</td>
<td data-sheets-value="[null,3,null,0.052]" data-sheets-numberformat='[null,3,"0.0%",1]'>5.2%</td>
<td data-sheets-value="[null,3,null,671000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$671,000</td>
<td data-sheets-value="[null,3,null,0.063]" data-sheets-numberformat='[null,3,"0.00%",1]'>6.30%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Unit"]'>Unit</td>
<td data-sheets-value="[null,3,null,520000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$520,000</td>
<td data-sheets-value="[null,3,null,0.013]" data-sheets-numberformat='[null,3,"0.0%",1]'>1.3%</td>
<td data-sheets-value="[null,3,null,513500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$513,500</td>
<td data-sheets-value="[null,3,null,0.041]" data-sheets-numberformat='[null,3,"0.00%",1]'>4.10%</td>
</tr>
</tbody>
</table>
 
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<colgroup>
<col width="152">
<col width="152">
<col width="156">
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<col width="119">
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<tr>
<td data-sheets-value='[null,2,"Inner"]'>Inner</td>
<td data-sheets-value='[null,2,"Jun-15 Quarter"]'>Jun-15 Quarter</td>
<td data-sheets-value='[null,2,"Quarterly change"]'>Quarterly change</td>
<td data-sheets-value='[null,2,"Mar-15 Quarter"]'>Mar-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual change"]'>Annual change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"House"]'>House</td>
<td data-sheets-value="[null,3,null,1239500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,239,500</td>
<td data-sheets-value="[null,3,null,0.062]" data-sheets-numberformat='[null,3,"0.0%",1]'>6.2%</td>
<td data-sheets-value="[null,3,null,1167500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$1,167,500</td>
<td data-sheets-value="[null,3,null,0.136]" data-sheets-numberformat='[null,3,"0.00%",1]'>13.60%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Unit"]'>Unit</td>
<td data-sheets-value="[null,3,null,545500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$545,500</td>
<td data-sheets-value="[null,3,null,0.003]" data-sheets-numberformat='[null,3,"0.0%",1]'>0.3%</td>
<td data-sheets-value="[null,3,null,544000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$544,000</td>
<td data-sheets-value="[null,3,null,0.019]" data-sheets-numberformat='[null,3,"0.00%",1]'>1.90%</td>
</tr>
</tbody>
</table>
  
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<col width="152">
<col width="156">
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<col width="119">
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<tr>
<td data-sheets-value='[null,2,"Middle"]'>Middle</td>
<td data-sheets-value='[null,2,"Jun-15 Quarter"]'>Jun-15 Quarter</td>
<td data-sheets-value='[null,2,"Quarterly change"]'>Quarterly change</td>
<td data-sheets-value='[null,2,"Mar-15 Quarter"]'>Mar-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual change"]'>Annual change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"House"]'>House</td>
<td data-sheets-value="[null,3,null,827500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$827,500</td>
<td data-sheets-value="[null,3,null,0.051]" data-sheets-numberformat='[null,3,"0.0%",1]'>5.1%</td>
<td data-sheets-value="[null,3,null,787500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$787,500</td>
<td data-sheets-value="[null,3,null,0.112]" data-sheets-numberformat='[null,3,"0.00%",1]'>11.20%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Unit"]'>Unit</td>
<td data-sheets-value="[null,3,null,574000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$574,000</td>
<td data-sheets-value="[null,3,null,-0.003]" data-sheets-numberformat='[null,3,"0.0%",1]'>-0.3%</td>
<td data-sheets-value="[null,3,null,576000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$576,000</td>
<td data-sheets-value="[null,3,null,0.087]" data-sheets-numberformat='[null,3,"0.00%",1]'>8.70%</td>
</tr>
</tbody>
</table>
 
<table dir="ltr" border="1" cellspacing="0" cellpadding="0">
<colgroup>
<col width="152">
<col width="152">
<col width="156">
<col width="132">
<col width="119">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='[null,2,"Outer"]'>Outer</td>
<td data-sheets-value='[null,2,"Jun-15 Quarter"]'>Jun-15 Quarter</td>
<td data-sheets-value='[null,2,"Quarterly change"]'>Quarterly change</td>
<td data-sheets-value='[null,2,"Mar-15 Quarter"]'>Mar-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual change"]'>Annual change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"House"]'>House</td>
<td data-sheets-value="[null,3,null,525500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$525,500</td>
<td data-sheets-value="[null,3,null,0.05]" data-sheets-numberformat='[null,3,"0.0%",1]'>5.0%</td>
<td data-sheets-value="[null,3,null,500500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$500,500</td>
<td data-sheets-value="[null,3,null,0.058]" data-sheets-numberformat='[null,3,"0.00%",1]'>5.80%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Unit"]'>Unit</td>
<td data-sheets-value="[null,3,null,399000]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$399,000</td>
<td data-sheets-value="[null,3,null,0.019]" data-sheets-numberformat='[null,3,"0.0%",1]'>1.9%</td>
<td data-sheets-value="[null,3,null,391500]" data-sheets-numberformat='[null,4,"\"$\"#,##0",1]'>$391,500</td>
<td data-sheets-value="[null,3,null,0.037]" data-sheets-numberformat='[null,3,"0.00%",1]'>3.70%</td>
</tr>
</tbody>
</table>
 
Note: median prices are seasonally adjusted and annual change are based on rolling annual change 
Click <a href="https://www.reiv.com.au/Property-Research/About-REIV-data" target="_blank">here</a> to find out what a median is, what seasonal adjustment is and why the REIV uses them.
Median prices over time
</div>
<div class="wysiwyg">
 <a href="https://www.reiv.com.au/Property-Research/~/media/Files/Median%20Prices/2015%20Q2%20Jun/June%20Q%202015%20General%20Release%20Website/Median%20price%20metro.ashx"><img src="https://www.reiv.com.au/Property-Research/~/media/Files/Median%20Prices/2015%20Q2%20Jun/June%20Q%202015%20General%20Release%20Website/Median%20price%20metro.ashx?h=458&amp;w=701&amp;as=1" alt="" width="701" height="458"></a><a href="https://www.reiv.com.au/Property-Research/~/media/Files/Median%20Prices/2015%20Q1%20Mar/Chart_Mar15medians_Metro.ashx"></a><a href="https://www.reiv.com.au/Property-Research/~/media/Files/Median%20Prices/2014%20Q4%20Dec/Chart_Dec14medians_300115.ashx"></a><a href="https://www.reiv.com.au/Property-Research/~/media/Files/Median%20Prices/2014%20Q4%20Dec/Dec%20Q%202014%20General%20Release%20for%20Media%20300115.ashx"></a>
This graph shows median house and unit prices in Melbourne over the past decade in seasonally adjusted terms.
</div>
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Inner, Middle, Outer - which Melbourne suburbs have the highest annual price growth?

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Does the Sydney property bubble exist?
This could really be a yes or no answer. A bubble depends on so many factors, and we don’t really know what defines a bubble. However, what we DO know can be seen in the current housing market.
Why I think ‘yes – we are in a bubble situation’: 
1. Bubbles are characterised by low interest rates
Interest rates in Australia are currently low, and the official cash rate is at a historically low 2%. The Australian Prudential Regulation Authority (APRA) has had a slow, weak response to banks’ lending to investors. Rather than the loan-to-value ratio cap employed in New Zealand, the APRA has been encouraging ‘stress tests’. Under this policy, banks have the responsibility of making sure borrowers can cope with mortgage repayments for interest rates of up to 7%.
2. Bubbles are characterised by 'speculative investment'.
Speculative investment is when you invest in something because you think it is going to deliver a high return quickly. The NAB Quarterly Australian Residential Property Survey for the first quarter of 2015 revealed that investors are making up a larger portion of those taking out home loans to purchase houses. Investors are further incentivised to purchase properties through negative gearing and capital gains concessions.  In documents released by the RBA under the freedom of information act, the amount of investors receiving home loans was growing by an annual rate of over 10% in 2014. The ideal growth rate in investor home loans was specified at around 6%.
3. Bubbles are characterised by rapid growth.
The median house in Sydney has increased in value by approximately $160,000 in the year to May 2015.
At the same time, I could also answer ‘no – we are not in a bubble situation’, because: 
1. I'm afraid of commitment
2. Evidence from the past.
The Sydney market has never really ‘popped’. We can see this by looking at the ‘House Price Index’ (HPI) for the median house in Sydney:
<ul>
<li>The HPI is a number that represents how much house prices have increased at any point in time since our first point of data collection in January 1979.At April 2015, the HPI for the median house in Sydney was 20.70. This means that the median house value in Sydney has increased by 20.70 times the house value in 1979.</li>
</ul>
<ul>
<li>The circles in Graph 2 highlights the big housing booms throughout the last 30 years (1987-88, 2003-04 and 2013-14). The slope of the HPI represents the rate of growth in this indicator. This data shows that Sydney houses are currently in their largest, longest housing boom. But you can also see that the HPI rarely goes down, and when it does go down it doesn’t stay down for very long.</li>
<li>For example, in 2003, Sydney houses experienced a peak growth rate of 24%.</li>
<li>The correction that followed between 2004 and 2007 saw a contraction of just 3%. A mere 3% contraction of what houses were worth at the end of a housing boom does not seem like a drastic correction, although this contraction continued for several quarters. Such growth patterns prompt me to view the Sydney market as an anomaly that could well stabilise at high prices. </li>
</ul>
<a href="/images/2015/07/24/G2_HPI.jpg" target="_blank">Click to enlarge</a> - Sydney HPI
<img src="/images/2015/07/24/G2_HPI.jpg" alt="">
The bubble could pop if the institutional conditions that affect demand are changed. These could include a crack-down on foreign investment, reform to negative gearing and capital gains, an increase in interest rates and/or a serious reform to lending rules for banks.
It could also pop if people decide the money they are paying is not worth the quality of life they are getting. Sydney is becoming very dense, some of our transport options are at capacity, and what expansion is happening out west is further and further from employment opportunities and entertainment.
Eliza Owen is the market analyst for Onthehouse.com.au. She can be contacted <a href="https://www.propertyobserver.com.au/https://au.linkedin.com/pub/eliza-owen/65/4ab/255" target="_blank">here.</a> 
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Does the Sydney housing bubble exist? Onthehouse's Eliza Owen

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Melbourne's South East industrial property market is up nearly 60% on the previous 12 months to June, with key sales ranging between $63 million and $20 million.
According to figures released from Savills research, sales to June reached $616 million, up 75% on the five year average.
Savills’ Notting Hill office director, Lynton Williams said data for the research found 80 properties (over $2 million) sold in the 12 months to June, an 86% rise on the 43 properties sold across the South-East market in the previous 12 months and 70% up on the five year average of 47.
"The market had seen investment yields for prime industrial property in the South-East fall 50 to 100 basis points over the last twelve months to a current range of 6.75 to 7.75%," Mr Williams said.
<a href="/images/2015/07/21/Screen%20Shot%202015-07-21%20at%2012.25.28%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/21/Screen%20Shot%202015-07-21%20at%2012.25.28%20PM.png" alt="" width="981" height="632">
"Industrial yields are firming however they continue to offer some of the best returns of any asset class to investors while providing owner-occupiers with a premises with the potential to add to the business bottom line."
Savills’ Victorian Head of Research, Glenn Lampard said the 80 properties sold in the south-east comprised more than half of the 144 properties sold across Melbourne.
"The south-east was a significant contributor to the $1422 million in Victorian industrial sales in the year to June which was up from the $1305 million in the previous year and significantly up on the five year average of $950 million,’’ Mr Lampard said.
Key South-East sales included: (all agents deals) 
<ul>
<li>4 Kingsway Crt, Moorabbin - $22.6 million</li>
<li>13-15 Joel Crt, Moorabbin - $19 million </li>
<li>215 Browns Rd, Noble Park – $20.8 million</li>
<li>495 Blackburn Rd, Mt Waverley - $63 million</li>
<li>Estate One, Danendong South - $39.25 million</li>
<li>Kingston Distribution Centre, Braeside - $36.6 million </li>
</ul>
 
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Industrial sales up 60% in Melbourne's South-East

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GUEST OBSERVATION
Weekend after weekend, Melbourne experiences spectacular sales rates signalling that property interest among buyers at an all time high. So it comes as no surprise that buyers have turned their attention to the potential of off-market deals. 
But how can off-market deals favour the vendor and what should they look out for in order to capitalise on this shift and this new type of buyer? 
One of the most obvious benefits of off-market sales is that they allow vendors to sell their property without having to invest in marketing or pay advertising fees. With off-market sales, vendors can easily establish an asking price that they are comfortable with without worrying about their property being passed in on auction day. However it is important to note that auctions are competition driven and therefore fetch higher sales prices in many instances compared to private sales. However if a vendor has a reason for selling privately then an off-market strategy can act as an excellent choice, given they seek the right professional advice. For vendors seeking privacy, a well established and community focussed agent should have a database of buyers that may be the perfect match for their property via an off-market sale. 
On-market sales better reflect the demand occurring the market right now. With an off-market sale it is harder to gauge and may deter some buyers as they may feel the vendor’s asking price far exceeds what the market dictates. At Hodges Caulfield we look at both the history of sales in the area and prices of competing properties to set an informed value and price range to avoid this situation and draw in buyers who dislike the auction scenario or have a specific criteria. By selecting an agent with good local market knowledge and a rich database of potential buyers, vendors will ensure they are setting themselves up to receive quality leads.
Just like an auction scenario, an agency with good business practice will inform a vendor of all the offers on their property as soon as they are made. The agent will then have a conversation with the vendor and give them sound guidance on whether it’s an offer they should accept or decline. If the agent is waiting on another offer they will let both parties know so there’s transparency during the whole transaction. Where there’s transparency, there’s a better result not only for the purchaser but also for the vendor. 
Golan Flamm is sales manager of Hodges Real Estate Caulfield. He can be contacted <a href="https://www.hodges.com.au/golanflamm/" target="_blank">here</a>.
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Is an off-market deal right for you?

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The Real Estate Institute of Victoria puts the median house price in the Melbourne metropolitian area at $706,000 for the three months to June 30, up from $671,000 in the March quarter.
Melbourne's buoyant property market rocketed past the $700,000 median price ceiling for the city for the first time ever.
REIV chief executive efficer Enzo Raimondo noted its represented a quarter-on-quarter increase of more than 5%.
The quarterly increase matched the December 2014 growth.
“A number of factors have contributed to the strong result," he said.
"A record number of auction sales in the first half of the year, low stock on market, high levels of migration and record low interest rates have been good news for sellers.”
Growth was widespread across Melbourne, with inner suburbs recording an increase of 6.2%, and homes in middle and outer suburbs increasing 5 per cent.
He added that the number of million dollar suburbs across the city skyrocketed to 78 this quarter – 16 more than in the March quarter.
“These ranged from Abbotsford in the inner north, to Fairfield in the north-east, to Heidelberg in the outer east and Hughesdale in the south-east,” he said.
Regional Victoria also had price increases, with the median price of a home in regional Victoria also increasing in the June quarter, up 1.5% to $346,000.
"The regional market has rebounded over March figures as more homebuyers take advantage of affordable properties on offer in regional Victoria.”
 
<a href="/images/2015/07/20/Screen%20Shot%202015-07-20%20at%208.08.28%20AM.png" target="_blank">Click to enlarge</a>
<a href="/images/2015/07/20/Screen%20Shot%202015-07-20%20at%208.08.28%20AM.png" target="_blank" style="line-height: 1.3em;"> </a><img src="/images/2015/07/20/Screen%20Shot%202015-07-20%20at%208.08.28%20AM.png" alt="" width="679" height="324" style="line-height: 1.3em;">
 
<a href="/images/2015/07/20/Screen%20Shot%202015-07-20%20at%208.08.39%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/20/Screen%20Shot%202015-07-20%20at%208.08.39%20AM.png" alt="" width="745" height="395">
<a href="/images/2015/07/20/Screen%20Shot%202015-07-20%20at%208.08.47%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/20/Screen%20Shot%202015-07-20%20at%208.08.47%20AM.png" alt="">
 For more information click <a href="https://www.reiv.com.au/News_Publications/Latest-News?newsID=%7B78A675EE-0B01-498B-AFD6-4C770001D862%7D&amp;title=Melbourne%20breaks%20yet%20another%20house%20price%20record" target="_blank">here</a>.
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Inner Melbourne spurt assists metro median to $706,000: REIV

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The preliminary weighted national auction clearance rate sits at 77 per cent this week, having increased from a recent low of 74.9 per cent the previous week. 
CoreLogic RP Data noted there have been 1,414 auction results reported until Saturday evening from a total of 1,766 auctions held across the capital cities. 
Last week there were 1,704 capital city auctions, while one year ago there were 1,515 with a clearance rate of 69.3 per cent.
Melbourne’s preliminary auction clearance rate was 74.9 per cent this week, the lowest it has been since mid-February.
The clearance rate this week is down from 77.4 per cent last week, but higher than at the same time last year when the clearance rate was 68.4 per cent. This week there were 729 Melbourne auctions, compared to 655 last week and 674 last year. The strongest performing Melbourne sub-region, based on preliminary results, was the North East region, where 80 results have been reported with a clearance rate of 82.5 per cent.
The preliminary auction clearance rate for Sydney was 82.6 per cent this week, up from 78.8 per cent last week, which was the second lowest clearance rate in the city for 2015. This week the number of homes taken to auction across Sydney remained relatively steady, with 768 auctions compared to 791 last week. At the same time last year, Sydney’s auction market was beginning to gain some momentum, with a clearance rate of 75.2 per cent across 588 auctions. Across Sydney, Inner West (92.7 per cent), Blacktown (90.9 per cent) and Ryde (90.9 per cent) were the strongest performing sub-regions this week.
For Brisbane, the auction clearance rate this week increased from 52.5 per cent last week to 65.4 per cent. This week’s result is also stronger than at the same time last year, when 56.9 per cent of auctions were successful. Meanwhile, across the Gold Coast, 24 results have been reported so far, with a clearance rate of 45.8 per cent.
Across Adelaide, 77 homes were taken to auction this week and of the 49 results, 69.4 per cent were sold. Adelaide’s clearance rate was lower over the previous week (66.1 per cent) and at the same time last year (69.0 per cent).
22.2 per cent of Perth’s reported auctions were sold this week, compared to 33.3 per cent last week and 38.5 per cent the previous week. This week 21 auctions were held across Perth, compared to 26 last week, and just 16 one year ago.
There were 44 Canberra homes taken to auction this week and of the 22 reported results, 86.4 per cent were sold.
Across Tasmania, 6 results were reported to CoreLogic RP Data, with 4 of these properties reported as sold.
 
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