<section data-scroll-anchor="false" data-testid="conversation-turn-5" data-turn="user" data-turn-id="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" data-turn-id-container="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" dir="auto">Time &amp; Place’s plans to transform the former David Jones factory building in Surry Hills into a mixed-use residential precinct have gone on exhibition through the NSW Government’s In-fill Affordable Housing pathway.</section>

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" data-turn-id-container="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" dir="auto">
The Marlborough House proposal, lodged for the <a href="https://www.apartments.com.au/new-apartments/marlborough-house-47-97-marlborough-street-surry-hills-nsw-2010">47-97 Marlborough Street</a> site, would see the adaptive reuse of the heritage-listed warehouse building alongside the construction of new residential additions and a separate apartment building on the northern portion of the site.

The proposal seeks approval for 172 apartments across three buildings, including 15 per cent affordable housing managed by a community housing provider for at least 15 years from occupation.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="5d1d3c2a-bf13-47d6-a335-7c01102cdee1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.36%E2%80%AFAM.png?VersionId=cjMYrbR.BLUlWH4dar0RVDDo0bG.u2YT" />

Interior view from the Northern Building Penthouse overlooking the park

&nbsp;

The redevelopment is planned for the prominent 3,413 sqm site bounded by Marlborough Street, Goodlet Street and Lansdowne Street, directly opposite Eddie Ward Park and around 200 metres from the Surry Hills light rail stop.

Time &amp; Place acquired the former David Jones building in 2024, marking the first time the property had changed hands in around 50 years.

Designed by Wardle, the proposal centres around the adaptive reuse of the former David Jones factory, originally constructed between 1913 and 1935 in the Inter-War Chicagoesque architectural style.

Wardle noted in its Architectural Design Report that the building “occupies a significant place in the industrial and cultural history of Surry Hills” and at its peak was “the largest department store manufacturing facility in Australia, employing over 800 people and fuelling the growth of Sydney’s fashion and retail industries.”

The practice said the project positions itself “not as an isolated intervention, but as a contributor to the civic, social, and architectural grain of the precinct.”

The proposal would deliver 75 apartments within the retained southern heritage building, 59 apartments within the central addition, and a further 38 apartments within the new northern building fronting Lansdowne Street.

Planning documents show the scheme would comprise a mix of heritage apartments, new-build apartments, townhouses and penthouses.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="57758518-40a3-4b83-958c-d06e96a2cffa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.42%E2%80%AFAM.png?VersionId=VerlX9ST5xgBi8.1_YRsqdWTJeT6ygjs" />Interior View of the Heritage Building Apartment

The development would also include a ground-floor retail tenancy on the corner of Marlborough and Lansdowne streets, rooftop communal open space, a landscaped pedestrian link along the western edge of the site, and basement parking accessed from Lansdowne Street via a car stacker system.

&nbsp;

The scheme emerged from a competitive design process run by Urbis, with Wardle ultimately selected as the winning architect ahead of FJC Studio, TZG, Architectus and Wilkinson Eyre.

The Design Integrity Panel later described several aspects of the Wardle scheme as fundamental to the project, including “the stepped character of the new addition to the north of the site”, the landscaped western pedestrian link, and the “garden arrival” experience separating the original Marlborough House from the heritage addition.

Wardle’s design heavily references the site’s industrial and heritage history, while also responding to the surrounding Surry Hills streetscape.

The Architectural Design Report describes Surry Hills as “a finely grained neighbourhood with beautiful and expressive brickworks throughout the suburb,” with the proposal introducing a material palette intended to sit comfortably alongside the existing warehouse fabric and neighbouring terraces.

The report also outlines the project’s relationship with Eddie Ward Park and the broader landscape context of the area.

“Marlborough House occupies a site of deep cultural memory and the neighbouring Eddie Ward Park is of local ecological significance, where natural systems, topography, and stories have long shaped human experience,” Wardle noted in the report.

The architects said the proposal sought to “rebind built form to Country” through landscape, materiality and the adaptive reuse of the heritage structure.

<img alt="Marlborough House" data-entity-type="file" data-entity-uuid="9ae3f2f9-c85f-477a-a6f8-b43f6cb97c41" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.53%E2%80%AFAM.png?VersionId=B.qUCLqRvJOR.n9CvYcTpaknIX9LuqKZ" />

The project is also being progressed under the NSW Government’s in-fill affordable housing provisions, allowing developments that include affordable housing to access additional height and floor space incentives.

Under the plans, 2,593 sqm of the project’s floor space would be dedicated to affordable housing, slightly exceeding the required 15 per cent threshold.

In its Design Excellence Strategy, Urbis said the project aimed to “sensitively adapt and enhance the heritage-listed building on site through alterations and additions that preserve its historical significance” while delivering “high-quality market and infill affordable housing development in Surry Hills.”

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in&nbsp;<a href="https://www.apartments.com.au/developments/south-melbourne-vic-3205">South Melbourne</a>, and have future projects, <a href="https://www.apartments.com.au/new-apartments/the-wilmot-173-burke-road-28-hope-street-glen-iris-vic-3146">The Wilmot</a>&nbsp;in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>, the redevelopment of the Northcote Plaza, and another tower in South Melbourne.

The developer broke into Sydney just a few years ago with Two Tides in Manly. They have another project nearby, which is at the ultra-luxury end of the market on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach.

It is also continuing to work through the <a href="https://www.apartments.com.au/news/nsw/first-look-time-place-settles-on-design-for-the-chimes-potts-point-redevelopment">redevelopment of The Chimes building</a> on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as a project on <a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Mosman's Redan Street</a>.
</section>

Joel Robinson

First look: Time & Place unveils Marlborough House redevelopment designs for former David Jones warehouse in Surry Hills

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.

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 

Melbourne

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The bathing box 6 on Brighton's Dendy Street Beach sold at weekend auction at a record $276,000.
The beach box is located near the Brighton Lifesaving Club, which reasonated with buyers.
The selling agent John Clarkson of hockingstuart marketed <a href="https://www.realestateview.com.au/Real-Estate/bathing-box-6-dendy-street-beach-brighton/Property-Details-buy-residential-8489600" target="_blank">the very blue and yellow bathing box</a>, with $150,000 plus expectations.
"It was a stunning result," he told Property Observer. 
Last year, he had sold a new Brighton bathing box, 57a, <a href="/news/vic/200-000-plus-hopes-for-bright-new-bathing-box-on-brighton-beach">for $215,000</a> having had a lengthy history being the first to auction one in 1999, for $58,000.
It was his 16th sale of one of the bathing boxes that existed in Brighton as far back as 1862. There were five bidders at yesterday's auction.
The previous highest known price for a Brighton bathing box was set in 2011 at $260,000, brand new, infill box which was bigger than normal. The rising prices come despite new infill bathing boxes being built on an ongoing timetable by the local council, mostly at the other end of the beach.
Although the bathing boxes of Brighton are iconic postcard imagery for Melbourne tourism, there are dearer bathing boxes elsewhere in Victoria.
In Portsea, the record for what they call boat shed dates back to 2011 when $585,000 was paid.
At an <a href="/expert-insights/buying/no-record-as-portsea-boatshed-fetches-553-000-at-australia-day-2015-weekend-auction">Australia Day auction this year</a>, one sold for $553,000.
Some bathing box sales are done privately with the price kept under wraps.
<a href="/news">The weekend result </a>was amid the Brighton sales list which the REIV had as ranging from a $715,000 apartment to a $1,905,000 house.
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jchancellor-FAypfDUnLy

Record $276,000 paid for Brighton Beach bathing box

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A Melbourne clearance rate of 79% was recorded this weekend compared to 76% last weekend and 69% this weekend last year. 
There were 1291 auctions reported to the REIV today.
The Real Estate Institute of Victoria (REIV) was expecting about 1,400 auctions in 309 suburbs today.
The top sale was $3.9 million in <a href="https://www.realestateview.com.au/Real-Estate/25-montclair-avenue-glen-waverley/Property-Details-buy-residential-8416740" target="_blank">Glen Waverley when a four bedroom house </a>on 1154 square metre in the exclusive GWSC catchment was sold through Woodards.
The second top sale was at Fitzroy when <a href="https://www.realestateview.com.au/Real-Estate/191-gore-street-fitzroy/Property-Details-buy-residential-8452042" target="_blank">191 Gore Street</a> (below) – which had been a set for the hit TV series Offspring – sold at well above reserve through Arch Staver of Nelson Alexander who secured $3.58 million on a home that had fetched $2.41 million five years ago.
<div id="propertynav">
<div><a class="photobox cboxElement" href="https://www.realestateview.com.au/portal/viewphotos?OID=8452042&amp;popup=photos" style="line-height: 1.3em;"><img src="https://images.realestateview.com.au/pics/042/191-Gore-Street-Fitzroy-VIC-3065-Real-Estate-photo-1-large-8452042.jpg" alt="191 Gore Street Fitzroy VIC 3065 Real Estate Photo 1" title="191 Gore Street Fitzroy VIC 3065 House - Photo 1"></a></div>
</div>
<a href="https://www.realestateview.com.au/Real-Estate/41-tower-road-balwyn-north/Property-Details-buy-residential-8578216" target="_blank">A Balwyn sale</a> in the REIV top five was secured pre-auction at $3.45 million.
Brighton was the top auction locations with 23 auctions, followed by Reservoir and St Kilda with 21 auctions in each. 
The 1,600 auctions scheduled sat between the two record auction weekends, when 1,682 auctions were held in October 2014 and 1,529 auctions were held in December 2014.
Last weekend the REIV clearance rate was 76 per cent when there were 1205 auctions reported to the REIV.
One of the weekend listings was the elevated home at <a href="https://www.realestate.com.au/property-house-vic-beaumaris-119122255" target="_blank" style="line-height: 1.3em;"></a>21 Bolton St, Beaumaris (below) with glass lift that connects its three levels. But it was passed in on a $3.4 million vendor bid.
<img src="https://i3.au.reastatic.net/800x600/abe03cb508447649a8ca8527f491667303e74469f2370f05b6217920eb4180cf/main.jpg" alt="21 Bolton Street, Beaumaris" title="21 Bolton Street, Beaumaris" data-index="0">
The house, with four bedrooms, three bathrooms, three living areas and a kitchen with butler’s pantry was offered by agent Nick Jones at Chisholm &amp; Gamon Black Rock who had expected it to sell for more than $3.4 million. 
TOP 5 HOUSES 
1. 25 Montclair Avenue, Glen Waverley $3,900,000 2. 191 Gore Street, Fitzroy $3,580,000 3. 12 Swinton Avenue, Kew $3,450,000 4. 41 Tower Road, Balwyn North $3,450,000 5. 84 Kinkora Road, Hawthorn $3,160,000 
TOP 5 BARGAIN HOUSES 
1. 2 Casey Avenue, Sunbury $271,500 2. 164 Gap Road, Sunbury $278,500 3. 7 Seventh Avenue, Rosebud $295,000 4. 2 Heyington Boulevard, Carrum Downs $325,000 5. 26 Epstein Street, Reservoir $330,000
TOP 5 APARTMENTS 
1. 4 Corhampton Road, Balwyn North $1,900,000 2. 6 Balmoral Avenue, Kew $1,711,000 3. 4/156 Beaconsfield Parade, Albert Park $1,670,000 4. 4/2 Male Street, Brighton $1,650,000 5. 103 Carpenter Street, Brighton $1,600,000 
TOP 5 BARGAIN APARTMENTS 
1. 3/45 Oakleigh Road, Carnegie $230,000 2. 14/11-17 Park Street, St Kilda West $230,000 3. 3/95 Dawson Street, Brunswick $260,000 4. 6/231 Dandenong Road, Prahran $275,000 5. 2/68 French Street, Lalor $280,000
Source: REIV
 
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Fitzroy Offspring series setting ranks as weekend's second highest Melbourne sale

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Thornbury tied Reservoir as the busiest Melbourne suburb for auctions last weekend, according to CoreLogic RP Data.
Both northern suburbs had 21 auctions scheduled on the weekend of 21 March.
<a href="https://www.realestate.com.au/property-house-vic-thornbury-119173103" target="_blank">99 Hutton Street</a> (pictured above) was one of the homes auctioned in Thornbury last weekend. The Californian style period house sold for $1.15 million through Nelson Alexander's Grant Leonard and Peter Egan.
The three bedroom, one bathroom house has timber flooring throughout and is set on a deep plot, with a garage, shed and cubby house at the back of the property. At $1.15 milion, the home is valued above the suburb's median price of $827,500 (as of February, according to CoreLogic RP Data).
<a href="/news">Thornbury's median price </a>has been gradually increasing since 2011 as the suburb gentrifies. CoreLogic RP Data recorded a 15% growth in Thornbury's median house price over 2014, after 5% growth the year prior.
While Thornbury is largely associated with period cottages, the suburb is increasingly offering renovated or new contemporary homes. <a href="https://www.realestate.com.au/property-house-vic-thornbury-119179815" target="_blank">195 Gooch Street</a> (pictured below) also sold at auction this weekend, for $820,000.
<img src="/images/2015/03/27/thornbury%20mar%2027%20two.jpg" alt="">
The three bedroom, two bathroom contemporary home is brand new, and has open plan living areas with glass doors opening onto a north facing courtyard. Each of the bedrooms has built in robes, and one includes city views. The house sold through Michael Divito and Gino De Iesi of Barry Plant Northcote.
The two bedroom townhouse at <a href="https://www.domain.com.au/property/sold/house/vic/thornbury/?adid=2011800315" target="_blank">6/42 Swift Street in Thornbury</a> (pictured below) sold on Saturday 21 March through Gino De Iesi and Luke Brizzi of Barry Plant Northcote for $567,500.
<img src="/images/2015/03/27/thornbury%20mar%2027%20three.jpg" alt="">
The new residence, one in a block of six, was designed by Cornetta Partners Architects. Another in the block, <a href="https://www.barryplant.com.au/property/208341/1-42-swift-street-thornbury/" target="_blank">1/42 Swift Street</a> (pictured below), is currently listed for sale.
<img src="/images/2015/03/27/thornbury%20mar%2027%20four.jpg" alt="">
CoreLogic RP Data recorded Thornbury's median unit price as $285,000 for February 2015, but the previous month it was at $460,00. The suburb's unit prices were up 3.9% over 2014, after 13.9% growth in 2013.
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Thornbury's busy auction weekend

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In 2014 a total of $53.7 billion, over one billion dollars a week, was spent on Melbourne residential real estate.
This is an increase from the $52.9 billion in 2013 and $43.8 billion in 2012, reflecting the overall growth in the market over the last few years. It is worth noting that last year was still slightly below the all time record of $54 billion in 2010.
The citywide changes are also reflected at a suburban level.
Whilst the top 10 Melbourne suburbs ranked by the total spent on residential real estate did not show a lot of change between 2013 and 2014, the amount spent did.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/03/Highest-spend-by-suburb-2014.jpg" rel="wp-prettyPhoto[g4422]"><img class="aligncenter wp-image-4423 size-full" src="https://blog.corelogic.com.au/wp-content/uploads/2015/03/Highest-spend-by-suburb-2014.jpg" alt="Highest spend by suburb 2014" width="652" height="282"></a>
Top of the list was Brighton. Last year an average of $2.3 million was spent every day in Brighton property purchases and $378,213 more every day than the previous year.
This pushed the entire value of sales from $700 million to $841 million. Brighton may have a higher value of sales than any other suburb, however the increase was dwarfed by the rises recorded in Melbourne, Glen Waverley, Kew and Toorak.
In 2013 for instance, $1.49 million was spent on units in the suburb of Melbourne and this rose by half a million dollars a day to $2.05 million. This rise is partly due to the increased prices being paid and partly the increased construction.
Glen Waverley recorded the most significant difference.. Over the course of the year $233 million more was spent on houses which in turn pushed the median house price up from $807,000 to $970,000. Neighbouring Mount Waverley also saw a significant rise of $311,747 on a daily basis.
Key points:
<ul>
<li>Over one billion dollars a day was spent of residential real estate last year 
</li>
<li>Brighton recorded the highest spend, $842 million 
</li>
<li>Glen Waverley recorded a $233 million rise</li>
</ul>
WEEKEND AUCTION PREVIEW
There are 1,459 auctions scheduled this week in Melbourne compared to 1,414 for the same time last year. The highest volume of auctions in a single suburb will be found in Reservoir where 29 are expected. There are 26 scheduled in St Kilda and 24 in Brighton.
The compressed autumn auction market, the three weeks between Labour Day and Easter, are delivering excellent results to vendors with clearance rates tracking nearly 10 points above the same time last year while simultaneously showing high volumes.
At the end of last year the market appeared to have a slowing trend but the interest rate cut has clearly reversed that.
Citywide across the private sale market over the past week the time on market results for houses sold at private sale fell to 31 days, down from 32 days in the previous week. Overall vendor discounting contracted to -5.2% from -5.4%.
Key data:
<ul>
<li>Clearance rate week ending 22 March: 77.1% 
</li>
<li>Melbourne auctions expected week ending 29 March: 1,459 
</li>
<li>Melbourne private sales time on market week ending 22 March: 31 days (houses) 
</li>
<li>Melbourne vendor discounting market week ending 22 March: -5.2% (houses) 
</li>
<li>Listings being prepared for market are 11.2% higher in the month ending 22 March (seasonally adjusted)</li>
</ul>
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More than a billion dollars a week spent on Melbourne property in 2014: Robert Larocca

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After three years of consecutive rises, the vacancy rate in the Melbourne suburban office market fell to 6.3% as at January 2015, declining by 120 basis points over the 12 month period, according to a Knight Frank report.
New supply is projected to record its second highest annual level ever in 2015, it noted. Supply has been boosted by increased levels of speculative development with more than 40,000 square metres under construction.
Boosted by a record number of sales in excess of $30 million, office investment activity in the Melbourne suburban office market reached an all time high in 2014.
<img src="/images/2015/03/23/melb-office-mar-23-one.jpg" alt="">
Knight Frank forecasts suburban office market was expected to be driven by growth in the health care, professional services and retail trade sectors. It noted since 2012, net face rents across the suburban office market have largely remained stable.
In the 12 months to January 2015, average suburban A-grade net face rental levels increased by a mere 0.5% which was the weakest annual A-grade rental growth rate over the past three years.
Average suburban secondary net face rental levels decreased by 2.3% over 2014, impacted by the tenants’ preferences for prime quality accommodation.
While incentive levels in City Fringe and Inner Eastern precincts remain elevated to compete with the CBD office market, solid tenant demand and a lack of large available options should result in effective rental growth over the next 12 months, particularly for the City Fringe precinct. In contrast, the impending level of backfill space is likely to lead to further softening in the Outer Eastern precinct, particularly for secondary grade offices with incentive levels anticipated to increase, the report noted.
<img src="/images/2015/03/23/melb-office-mar-23-two.jpg" alt="">
The report noted a record number of sales in excess of $30 million, with office investment activity in the Melbourne suburban office market at an all time high in 2014.
Investment sales activity (above $10 million) in 2014 within the suburban office market totalled $711.67 million from 22 properties. The volume of sales achieved in 2014 was 118% higher than the long term average, and in fact, 37% higher than the previous record high set last year.
<img src="/images/2015/03/23/melb-office-mar-23-three.jpg" alt="">
Source: Knight Frank
Following a subdued first quarter, investment activity surged in the final quarter with transactions totalling $487 million, higher than the historical average yearly suburban sales total.
Over the course of 2014, there were nine sales in excess of $30 million, accounting for 71% of total sales volume.
Two of the transactions recorded in 2014 were the third (60 Brougham St, Geelong— $95.8 million) and 4th (6-22 Gladstone St, Moonee Ponds—$83 million) highest suburban office sales ever.
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Suburban Melbourne office pipeline soars in 2015: Knight Frank

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The most affordable property reported sold at Melbourne weekend auction was a one bedroom Essendon unit.
The 10/29 Raleigh Street offering sold for $260,000 by Considine Real Estate.
It is leased at $999 a month until October, reflecting a 4.6% yield.
Chauntel Considine at Considine Real Estate marketed the top floor one bedroom apartment as a "fantastic first home or investment opportunity in the heart of Essendon".
It sold to an investor who aims to update the unit.
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Essendon unit was the most affordable auction offering across Melbourne

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A dilapidated home with soiled carpets and hazard tape hanging across its doorways on Melbourne’s foreshore has sold for $4.51 million, during another strong auction weekend in the city.
<a href="https://www.heraldsun.com.au/realestate/news/run-down-home-sells-for-18-million-over-reserve-price/story-fni0ckoj-1227272835908%5D" target="_blank">The Herald Sun reports </a>the Saturday auction of 208 Beaconsfield Parade, Middle Park, attracted around 80 spectators who watched the home soar $1.8 million above its reserve price of $2.5 million.
Five bidders pushed the sale price to $4.05 million in the first 90 seconds, before a Melbourne couple placed the winning bid. The couple plans to demolish the bay-front home and start again, according to the Herald Sun.
But RP Data Victorian housing market specialist Robert Larocca said the result was “not surprising in the least” given the location.
“Middle Park and Albert Park are on a per square metre basis, the most expensive residential properties in Melbourne,” says Larocca, who believes forking out $4 million for land facing the Port Phillip Bay is “not outrageous”.
Larocca says as a seller of a home found in such a premium location, it may not be worth renovating it or doing much work before listing it for sale.
“In some respects you can easily over capitalise, so you may as well leave develop dream to the next person,” he says.
“For the buyer, if you can afford $4 million for land, building the property will hardly be an issue.”
The Beaconsfield Parade home was one of 1,322 properties that went under the hammer across Melbourne at the weekend, ending in a strong preliminary clearance of 78.1%, according to RP Data.
Larocca says volumes are “a touch higher” than this time last year in Melbourne, but the clearance is 10 points higher than the same period last year.
Melbourne contributed to a solid national clearance rate of 77.4%, alongside the continued strength of the Sydney market, which logged a clearance of 84.7% off 1,042 auctions.
The national clearance has remained in the mid- to high-70s for six consecutive weeks now.
Larocca says lower interest rates have clearly had their desired impact across the market.
“At the end of last year, we were entering a diminishing cycle, and I thought we’d see that trend continue, but quite the reverse has been true,” he says.
“Just interest rates alone have had quite a substantially large impact. An impact all those vendors who have listed their homes for sale will be very happy about.”
“The results just speak to very strong market right across the south-eastern seaboard – Melbourne, Sydney and Canberra, and even Adelaide are seeing excellent outcomes.”
Larocca says this weekend will be another strong weekend in terms of volumes, with more than 1000 properties again listed in both Melbourne and Sydney.
This will be ahead of a slow-down for Easter and the school holidays, which traditionally has a significant impact on the Melbourne market.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Dilapidated Melbourne home sells for $4.5 million during strong auction weekend

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It will come as no surprise that there are very few three or four bedroom apartments in the CBD, Docklands or Southbank.
Developers frequently cite market demand as the reason why they don’t build larger high-density dwellings.
A review of data from the apartments advertised for sale in the past two years shows that the size of dwellings does vary between the three inner city suburbs of Melbourne, Docklands and Southbank.
Across those three suburbs, 43 of the 3,966 homes had four or more bedrooms.
Three bedroom apartments where rare but slightly more plentiful with 434 advertised for sale. They were mostly found in Southbank and Docklands.
Almost one in two apartments in the suburb of Melbourne were one bedroom but they are far less plentiful in Docklands and Southbank, accounting for around 25% of the housing.
It is interesting to see the differences in the type of apartments between Melbourne and Docklands/Southbank.
From the perspective of the number of bedrooms Docklands and Southbank are the home to larger apartments than Melbourne. One-bedroom apartments accounted for 23% of apartments in Docklands and 28% in Southbank. In the suburb of Melbourne the comparable number is 47%.
Clearly, developers are providing different dwellings in different suburbs. This is also obvious when a comparison is made to a very different apartment market such as bayside Brighton where 9% had one bedroom, three bedroom apartments comprised 34% of the market, and two bedroom apartments were the majority at 53%.
What is also clear is that if you are looking for a four bedroom unit then it will take a very long time.
Key points
<ul>
<li>Across 2013 and 2014 only 1% of apartments advertised for sale in Melbourne had four bedrooms</li>
<li>Two bedroom apartments are more likely to be found in Southbank and Docklands than Melbourne</li>
<li>In Brighton only 9% of apartments had one bedroom</li>
</ul>
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Only one out of 100 apartments has four bedrooms in Melbourne’s CBD: Robert Larocca

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Australian banks are really dotting their i’s and crossing their t’s with prestige property lending in 2015, according to the Melbourne buyers' agent Mal James.
"It is obvious that there have been directives from the top through most banking hierarchies," said James.
"Prudential banking is a good thing, just so long as it’s fair and equitable to local buyers as well," he suggested on the issue of offshore borrowings versus local.
He added the banks will lend if local buyers get in shape – with the right valuations, right loan to value ratios and updated earnings figures.
<div id="attachment_49545">But the now "massive differences between the agents quote and the end result" was becoming a major issue, he said.</div>
"Many Chinese buyers have worked out agent quoting, but some local buyers appear to have not.
"Chinese buyers have in many cases no real contact with agents and in many cases can’t even speak English, yet they are able to buy well and locals are not.
"Chinese buyers form their own opinions on values or get assistance from their friends or buyer advocates.
"Local buyers listen to agents, who fill their heads with mush."
<img src="https://marketnews.com.au/wp-content/uploads/Quoting-Bidding-597x448.jpg" alt="Quoting Bidding" width="597" height="448">
<a href="https://marketnews.com.au/2015/03/some-chinese-buyers-have-worked-out-agent-quoting-but-many-local-buyers-appear-to-have-not/" target="_blank">A James Buyers Agency graphic</a> (above) was used to show in red the agent quote on offerings in Brighton, Kew and Hawthorn.
The orange is the Chinese bidding which was consistently high across the board. He said his agency had some Chinese buyers on its books.
The blue is what Mal James bid and the black boxes is the range James Buyer Advocates gave to its clients the week before the auction on where it felt the home would sell.
"See how consistent it is with three different agents on three different homes in three different suburbs," said James.
"During the first few weeks of 2015 it was understandable for agents and advocates and buyers to get it wrong as the market shifted big time and yes, agents and advocates can’t get it right every time (but they shouldn’t get it wrong every time either)."
He noted many were underestimating the power of the inner Melbourne prestige market, saying "they think it is an aberration. 
"We do not share that view while the fundamentals are so obvious and so strong. 
"Of course we have no idea how long it will last but the bidder depth from overseas buyers is as David Hart from Brighton Buxton described it – 'profound'."
He advised values change dramatically with:
+ Building Quality + Chinese Bidding + Better Precincts + Building Size + Auction Volcano Interest - Poor Floor plan - Poor Land Features - Poorer Precincts - High Vendors
James also noted some houses - especially ones that cannot be bulldozed are actually discounting their land value; "such is the insatiable appetite by overseas buyers for land you can build on."
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Local banks unwittingly giving the Chinese advantages in Melbourne's prestige suburbs buyers' race: Mal James

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A clearance rate of 77 per cent was recorded across Melbourne on the March 21 weekend, which matched the 77 per cent of last weekend.
Two Middle Park sales dominated the top sales among the 1053 auctions reported to the REIV.
There was 353 Richardson Street at $4,750,000 and 208 Beaconsfield Parade at $4,510,000.
Bidding on the Richardson Street property - with Pleysier Perkins interiors in the heritage listed home - opened with a $4 million vendor bid by the auctioneer John Bongiorno, and sold after it was passed in at $4.5 million.
Hocking Stuart Albert Park auctioneer David Wood secured the $4.51 million sale of the near-derelict 208 Beaconsfield Parade (pictured below) on the corner of Harold Street.
<img src="https://i1.au.reastatic.net/456x342/ccd0d079b39833677079580ef9606691f16a83f9a5aa7b370c491e86bd350cda/image4.jpg" alt="208 Beaconsfield Parade, Middle Park" title="208 Beaconsfield Parade, Middle Park" data-index="3">
Enzo Raimondo, the REIV noted there was a median house price of $940,000 and a $595,000 median unit price.
There was a $4.68 million Toorak sale (pictured top above) in between the two Middle Park trophy home sales.
It was a grand 1930s Toorak residence which became the home of then Country Party Prime Minister Sir John "Black Jack" McEwen.
It last sold at $2.6 million in 2003.
The home, at the corner of Orrong Road and Montalto Avenue, has a grand reception hall with formal entertaining rooms to each side.
The four bedroom home with arched windows, ceiling roses and fireplaces, also has two studies.  There is a swimming pool in the garden designed by Paul Thompson.
More than $4 million had been expected by Marshall White's Marcus Chiminello for <a href="https://www.domain.com.au/property/for-sale/house/vic/toorak/?adid=2011800569" target="_blank" style="line-height: 1.3em;">679 Orrong Road</a>.
John McEwen and his first wife, Annie, bought the house in 1956. It was sold by his second wife, Mary, in 1989 following his death in 1980.
He was the country's 18th prime minister from 19 December 1967 to 10 January 1968 following the death of PM Harold Holt, who lived elsewhere in Toorak.
Kay &amp; Burton achieved a 100% clearance rate for houses in metro Melbourne, including four in South Yarra.
There was an undisclosed Hawthorn sale of around $4.7 million at 4a Kooyongkoot Road. The 1237 square metre holding had last sold in 1999 at $1.01 million.
There was also the sale with an undisclosed price of Alta Vista, at 81 Wellington Parade South through Abercromby's which had $6 million hopes on its initial 2014 listing.
Kooyong's 10 Monaro Road sold through RT Edgar under the hammer at $4.5 million, after a $4.4 million vendor bid. Last sold at $406,000 in 1984, it had been listed initially for sale last October.
TOP 5 HOUSES 
1. 353 Richardson Street, Middle Park $4,750,000 2. 679 Orrong Road, Toorak $4,680,000 3. 208 Beaconsfield Parade, Middle Park $4,510,000 4. 14 Stirling Street, Kew $4,410,000 5. 3 St James Mews, Brighton $3,550,000 
TOP 5 BARGAIN HOUSES 
1. 18 Ardent Court, Hastings $197,500 2. 7 Thredbo Court, Epping $320,000 3. 88 Creedmore Drive, Rye $322,500 4. 15 Miram Court, Westmeadows $330,000 5. 30 Bootie Court, Roxburgh Park $332,000
TOP 5 APARTMENTS 
1. 27 Oak Grove, Brighton $2,397,000 2. 1/36 Dean Street, Kew $1,951,000 3. 40A Cochrane Street, Brighton $1,605,000 4. 3/103 Lucerne Crescent, Alphington $1,400,000 5. 4/103 Lucerne Crescent, Alphington $1,400,000 
TOP 5 BARGAIN APARTMENTS 
1. 5/1-3 Braemer Street, Seaford $215,500 2. 10/29 Raleigh Street, Essendon $260,000 3. 4/7 Stewart Street, Thomastown $265,000 4. 2/2 Martin Street, Rosebud $272,400 5. 7/9 Poplar Grove, Carnegie $275,000
Source <a href="https://www.reiv.com.au/Property-Research" target="_blank">REIV</a> 
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