&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Joel Robinson

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more internation and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

<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>

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

Melbourne

<html><body>
The top 10 Melbourne suburbs ranked by growth in house values in 2014 were dominated by some of the cities most expensive suburbs and they were located south of the Yarra.
Overall, the Melbourne housing market produced a near repeat of 2013 with house values rising by 8.4% and units recorded a rise of 1.1% as a result of high levels of supply; particularly in the inner city highrise market.
<a href="/news">Armadale</a>, <a href="/news">Caulfield North</a> and <a href="/news">Kew </a>experienced the highest growth in house values and this is reflective of a number of factors including that the strongest rate of value growth being recorded in the middle and upper segments of the market.
The appearance of <a href="/news">Box Hill</a> in the Top 10 highlights the continual popularity of the group of suburbs around <a href="/news">Balwyn</a> and <a href="/news">Mont Albert</a>. Over the last decade these suburbs have provided the best capital gains for owners. These suburbs have broad appeal for myriad reasons such as close proximity to local amenities such as parks, a range of transport choices, local shopping nodes and accessibility to the central business district.
At a broader level, the fundamentals of the Melbourne property market remain sound. A major contributor to these fundamentals is the positive impact on housing market from supportive monetary policy in the form of a record low interest rate. Furthermore, ongoing strong overseas migration to Victoria and a record high influx of residents moving to the state from the rest of Australia also helps to support housing demand.
House value growth slowed from 3.8% in the September 2014 quarter to just 0.8% over the final quarter of 2014. My big question for the summer and autumn markets is whether this was simply due to higher levels of supply or the start of a softer trend.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2015/01/melbourne-property-values-table1.jpg" target="_blank"><img class="aligncenter wp-image-4157 size-full" src="https://blog.corelogic.com.au/wp-content/uploads/2015/01/melbourne-property-values-table1.jpg" alt="" width="694" height="586"></a>
</body></html>

rlarocca-zWhvjay44N

South of the Yarra dominates Melbourne's top suburbs for house value growth

<html><body>
The highest penthouse, a home elevated 319 metres at the top of much-awaited Australia 108, has been revealed by Singaporean developer World Class Land Pte Ltd, a subsidiary of Aspial.
The Melbourne, Southbank development will include 1,105 premium apartments will break another record – providing the most space for communal living in any Australian apartment project. This includes The Star Club, 110 metres above ground level, with two infinity pools – another record, with the two highest swimming pools in the country.
The Star Club will also include private theatrettes, bars, club lounges and private dining areas. Level 11 will include a steam room, golf simulator, outdoor deck and a sauna.
The tallest penthouse, a 797.4 square metre residence, will have 360 degree views of Melbourne, is fully customisable and priced in excess of $20 million.
Sales will start in February in the Fender Katsalidis Architects designed apartment tower.
<img src="/images/2015/01/15/TPA8467_Australia_108_E01_Hero%20Elevated.jpg" alt="">
It will be the tallest residential building in the southern hemisphere upon 2019 completion, with habitable floors up to level 100. It will surpass the Gold Coast’s Q1, which despite rising to a height of 322 metres when measured to the top of its spire, has its highest habitable floor at 235 metres.
Aspial CEO, Koh Wee Seng, said that it will go where no development has before.
“As the tallest tower in the southern hemisphere, it will offer one of the world’s most luxurious lifestyles, the largest communal recreation facilities in Australia as well as world-class luxury apartment living,” said Koh.
“The closer to heaven you get in Australia 108, the more spectacular the living environment – and not just for the views. This is a project we believe is truly cloud-breaking in its luxury, design and amenity.”
The building includes 161 ‘Cloud Residences’ above level 71, with a private lobby, personal concierge and private lift. It will also include a private gym and entertaining facilities, which CBRE managing director, residential projects, Andrew Leoncelli calls a unique approach to exclusivity.
“It is complemented by a never-before-seen level of design in the lower level Sky Rise apartments, which set them apart from anything that has been offered to the Australian market before,” he said.
The building will be recognised by its towering height, but also an external starburst feature on the façade at level 70, some 210 metres high. Within these levels will be the majority of the 3,000 square metres of communal space.
Construction will begin in mid-2015, to be completed over three stages.
</body></html>

jduke-EHk3XBmHkn

Melbourne's Australia 108 penthouse - highest in southern hemisphere - details revealed

<html><body>
Wangararu, the historic Brighton East trophy home has been sold for $5 million.
The 1890 mansion is <a href="https://www.realestateview.com.au/Real-Estate/marriage-road-brighton-east/Property-Details-sold-residential-7932320" target="_blank">one of the finest estates in the area</a>. It last sold at $1.22 million in 1994.
Previously known as Brighton Park, the heritage listed Victorian residence is set on 2,504 square metres.
It has a heated swimming pool and floodlit north-south tennis court.
Its period features include bay windows, soaring ceilings and marble fireplace mantels.
Kay &amp; Burton agent Ian Jackson secured the sale.
</body></html>

jchancellor-FAypfDUnLy

Wangararu, the $5 million Brighton East trophy home, sold

<html><body>
Flinders Street apartment project, 108 Flinders, from Melbourne developer Riverlee, has been revealed – with a dual façade feature designed by Fender Katsalidis.
The development was launched in 2010 and is completely sold out, with 80% of <a href="https://www.108flinders.com.au" target="_blank">108 Flinders</a> purchased in the first few months.
The 190 apartment project includes one façade facing Flinders Street with another onto ACDC Lane. Each is created with a different concept, the Flinders Street facing front using a mosaic of coloured glass and stainless steel frames.
According to Fender Katsalidis Architects’ Karl Fender, the rear façade to ACDC Lane includes an urban scale art wall created by graphic artist Garry Emery, and includes a new restaurant. The façade can be individually altered by the residents to create privacy screens, altering the face of the art whenever they are moved.
The new restaurant is Patuso, a Peruvian grill.
“Our practice enjoys, wherever possible, to create an architecture that contributes to the richness of our city through the thoughtful integration of art into the building fabric, often working in close collaboration with Melbourne artists,” Fender said.
“108 Flinders is a sculpture in its own right, which embraces the diverse fabric of our city through its precinctual responses.”
In the middle of 108 Flinders is a modernized internal garden, 18 metres high, which is planned to improve amenity for those living in the two connected buildings. It includes a wall mural designed by Emery Studio, a waterpond skylight to the level below and upside-down tree sculpture suspended above.
There is also a rooftop terrace of level 12, explains Riverlee sales and marketing director Kristine Lee. It has views of the MCG and Federation Square.
On levels 11 and 12 there are premium penthouse residences that include their own mini-garden retreats within the home. The three penthouses that face onto Flinders Street have motorized louvered windows that have views of the Yarra River and Royal Botanic Gardens.
“We believe at 108 Flinders we have achieved an urbane home that gives Melbournians the chance to live, work and play in the CBD without compromising on anything,” said Lee.
The development also has communal facilities, including a gym and residents’ lounge.
</body></html>

Dual facades for Fender Katsalidis designed 108 Flinders

<html><body>
Rumours of the imminent demise of the residential construction boom were somewhat exaggerated, it seems. Only yesterday morning I mused in the Twittersphere that we would need to see a proverbial "king wave" of building approvals for the month of November to reinstate the data series to a record high...
<img src="https://2.bp.blogspot.com/-eRHnncJlYUw/VK6c4jalVHI/AAAAAAAASW4/Rc1gJIDLC_g/s1600/pete.jpg">
...and, in the event, that's exactly what we got. Buoyed by a sizeable increase in attached dwellings over the past year, a further total of 18,245 <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/DetailsPage/8731.0Nov%202014?OpenDocument" target="_blank">building approvals</a> in November took total approvals to the highest annual level on record at 199,173. Over the past year there have been approvals for 113,734 houses (+4%) and 85,439 units and apartments (+18%) representing an excellent supply response to low interest rates and the ensuing increase in dwelling prices. The 18,245 approvals seasonally adjusted in the month of November also smashed the previous two decade old monthly record of 17,745 set way back in August 1994, by more than 3%.
The below chart thus indicates an impressive volume of approvals in the pipeline. With population growth sliding in most states outside New South Wales this generally points towards cooling dwelling price growth in many market sectors as supply steadily comes online. 
<img src="https://2.bp.blogspot.com/-MhBxXFt4g18/VK5xJqYxgII/AAAAAAAASVw/qMPFy9uGRSg/s1600/BA1.jpg">
Let's take a run through the key facts and figures in three short parts, commencing with...
Part one - Australian economy
November 2014 was a monster month for the value of residential building jobs at a seasonally adjusted $5,465 million - this is by a huge margin the greatest monthly figure on record, thereby taking the total value of building jobs to new record heights on an annualised basis.
<img src="https://3.bp.blogspot.com/-dIEWm7ZsazM/VK5xLJsWHFI/AAAAAAAASV8/X9K1KZdNKYc/s1600/BA6.jpg"> 
Victoria has been the kingpin of residential construction for some years now. Yet while this provides some short-term juice for the local economy, an oversupply of apartment stock is nurturing a systemic risk in that market as detailed in part three below.
As <a href="https://petewargent.blogspot.co.uk/2014/11/construction-work-done-sounds-alarm-on" target="_blank">analysed here previously</a> residential construction alone doesn't stand a snowball's chance of successfully offseting the forthcoming declines in mining construction, particularly as "alterations and additions" (major renovations activity) has contributed so little to GDP over the past year, though commercial and infrastructure construction will assist.
The other state which has really embraced a building boom has been New South Wales - but contrary to popular belief the surge in the number of cranes on the Sydney skyline is not leading to an oversupply of residential property.
<img src="https://4.bp.blogspot.com/-tdP6OgG_zPI/VK5xLkYK-kI/AAAAAAAASWI/IszyJS7S8Zk/s1600/BA7.jpg"> 
In fact the enormous boom in building jobs values and construction has to a significant extent been driven by infrastructure and commercial projects.
These include some of those initiated by LendLease (ASX: LLC) such as the gargantuan $6 billion Barangaroo project, of which the enormous office towers "T1, T2 and T3" have been progressing apace since the middle of 2014 (see some of my <a href="https://petewargent.blogspot.co.uk/2014/06/hanging-gardens-of-barangaroo" target="_blank">site photos here</a> among various places on this blog for an idea of the scale).
<img src="https://4.bp.blogspot.com/-f-3HPevuKmU/VK5xMzGRPjI/AAAAAAAASWY/GbYiABmaz2s/s1600/BA8.jpg"> 
Article continues on the next page. Please click below. 
<hr class="system-pagebreak">
Part two- Capital cities
Rather than imbue readers with a chronic case of "chart fatigue" we will omit the state level data today other than to note that Victoria is approving huge volumes of supply, but approvals in New South Wales are now sliding.
Let's skip directly to what is happening at the more interesting capital city level where Greater Melbourne is being joined by Greater Perth in approving the largest number of houses.
 <img src="https://1.bp.blogspot.com/-fMSl5a7IuzE/VK5xNiypVfI/AAAAAAAASWg/uZXBFmckqK4/s1600/ba2.jpg"> 
However it is the supply of inner city apartment stock that holds most intrigue for us in this data series. 
The trend data for Sydney apartment approvals peaked way back in September 2013 and continues to slide on a rolling annual basis - now down to a level at around 24,000 which can be easily absorbed by the growing market demand (population growth in the city could tip in at up to around 90,000 this year). 
Notably some commentators have called an oversupply of residential building in Greater Sydney. I can see why you would think that given the construction that is visibly taking place. 
But much of this is commerical in natue and the numbers tell another story - with the exception of a few small pockets in inner south and inner city suburbs, the market remains tight.
In reality much of desirable inner suburban Sydney has precisely the opposite problem with planning permissions generally difficult to come by and vacancy rates contracting to their <a href="https://petewargent.blogspot.co.uk/2014/12/perfect-storm-for-sydney" target="_blank">lowest level in more than 22 months</a> - since February 2013 - at just 1.5%.
Not only is the new construction not causing an oversupply, in most locations it has barely even begun to address the inherent undersupply.
 <img src="https://1.bp.blogspot.com/-nWgP2Dzi2AY/VK5xN-zJObI/AAAAAAAASWk/pfebfudDE-Y/s1600/ba3.jpg"> 
Greater Brisbane continues to approve a higher number of units and apartments than has been historically typical.
Therefore although we feel that Brisbane is likely to be Australia's best performing property market over the next few years, we would suggest avoiding those inner suburbs where there is a raft of new projects coming online as detailed here previously.
The problem child is Greater Melbourne. The month of November saw an extraordinary pre-election surge of 3,931 attached dwelling approvals (to add to more than 22,000 detached house approvals in the last 12 months).
Despite there already being a glut of apartment stock on the market and elevated vacancy rates, this takes rolling annual attached dwelling approvals to an unprecedented level for Melbourne at more than 25,000, and trending rapidly towards a figure with a "3 handle".
Article continues on the next page. Please click below.
<hr class="system-pagebreak">
Part three - Melbourne going highrise bonkers
The value of approvals in Victoria as charted below - while promising an attractive short-term sugar hit to the local construction economy - also hints at an underlying muddle.
 <img src="https://2.bp.blogspot.com/-nqwGVFyEW6I/VK5xJwi7UaI/AAAAAAAASWE/PpY6yV-ab18/s1600/BA5.jpg">
The number of high rise units continues to break new record levels, largely thanks to the prevailing trend towards constructing towering apartment structures to be exported to offshore investors. 
In localities such as Docklands a high percentage of units are thought to stand vacant as well highlighted at the suburb level in a recent Prosper report entitled Speculative Vacancies in Melbourne 2014.
Drilling into the number of apartments approved by number of storeys below highlights the crux of the issue. More than 3,000 units of four or more storeys were approved in November alone (!) taking the rolling annual total close to 15,000. This is well over double the figures being notched as recently as 2009.
 <img src="https://1.bp.blogspot.com/-DhYEmGMmWq0/VK5xJxa6XRI/AAAAAAAASV0/JPMIZKQo-jQ/s1600/BA4.jpg"> 
Put another way, across the last five years Victoria has approved an extraordinary 62,837 "high rise" (four plus storey) units - well over triple the 18,705 approvals in the preceding five years (New South Wales has been doing something similar in recent years but Sydney is playing catch-up after six years of woeful undersupply).
In short there is clear oversupply of highrise apartments set to land squarely in the city of Melbourne. 
Of course, over the long-term this will easily be absorbed as the city population grows and the largest Australian cities adopt a more Asian city feel and style of high-density living.
Over the short-term, however, this presents a systemic risk and may result in a painful correction in that sector of the market. 
The wrap
From a macroeconomic perspective this was a big result in November both in terms of the number and value of building approvals, which bodes well for this residential construction cycle pushing through until 2017.
At the capital city level apartment approvals have continued to ease back in Greater Sydney meaning that those waiting to see a harbour city oversupply are likely to be disappointed. 
Melbourne, on the other hand, is continuing to wave through high rise approvals at a maniacal rate. This may mask malignant adverse consequences.
Pete Wargent is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.
His new book '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' is out now.
</body></html>

pwargent-M4siyDbqQY

Building approvals hit record high: We need to talk about Melbourne

<html><body>
There is a budget-priced bathing box for sale on the beach at Edithvale on Melbourne's Port Phillip Bay.
It has $50,000 expectations. And just an hour down the peninsula, there is one on offer at $500,000 plus.
There was a recent sale at nearby Aspendale beach at around $135,000, but it was a bigger offering.
<a href="https://www.raywhite.com/vic/edithvale/1230283/" target="_blank">Box 926 on Edithvale beach</a> (pictured above) has been scheduled for auction on 24 January. 
The Ray White Chelsea listing agent Paul Mazur says its price hopes reflect its small size.
The freshly painted beach box comes with double doors and timber decking.
"It has been loved by one family for more than 40 years," Paul Mazur said.
In early 2013 one was for sale located on Dudley Grove, Edithvale –<a href="https://www.realestate.com.au/property-house-vic-edithvale-112446919" target="_blank"> known as boat shed 696</a> – which had hopes of $69,000 selling in April 2013 through Matthew Marshall from Biggin and Scott Aspendale (pictured below).
<img src="/images/2015/01/09/main.jpg" alt="">
Kingston rate payers or Kingston residents only could secure the opportunity.
Edithvale, 28 kilometres south-east of the CBD, has a record $642,500 median house price, <a href="/news">according to CoreLogic RP Data</a>.
The name of Edithvale was adopted from Edithvale Road which was the name of the suburb until 1921.
Bathing boxes are aplenty around Port Phillip Bay from Brighton to Portsea. In January 2011 a Portsea box - marketed as a boat shed - set a record $585,000 when five bidders fought for the property at its RT Edgar auction. 
Later this month there is a Portsea auction of a boat shed – <a href="https://propertyobserver.com.au/finding/location/vic/39101-portsea-boatshed-listed-with-500-000-plus-hopes" target="_blank">number s28</a> – with $500,000 plus hopes.
With sales regularly tipping above $200,000, Brighton bathing boxes too can only sell to ratepayers.
</body></html>

Budget-priced bathing box listed for summer January 2015 auction

<html><body>
Guest observation
What really happened in Melbourne's property market last year, now that we have the benefit of hindsight?
What started out reasonably even turned into, without a doubt, a seller’s market. This also looks set to continue on in 2015, particularly as interest rates are confidently forecasted to remain at the current low levels for some time. If 2015 performs as scripted, vendors can continue to expect to achieve results more in their favour.
The Victorian state election played a significant role in the final quarter of 2014 and provided an excuse for the more cautious buyer to delay purchasing – a wait and see mentality.
This temporary withdrawal from the market place may prove to be ill advised inaction, as property prices continued to be buoyant and look likely to further increase (albeit moderately) this year. This predicted rise in property prices looks as though it will continue throughout 2015.
The imbalance between the number of buyers (more) and the number of vendors (less) will continue to be apparent as buyers compete for each property.
Low interest rates and no suggestion of movement encouraged many to invest in property during 2014. Purchasing property will continue to be one of the top investment choices for Australians in 2015 and we may also see more people using their self-managed super funds as the vehicle to invest in property.  This is unless some of the recommendations by David Murray in his recent financial system review are adopted.
With low interest rates predicted to be the norm, buying property is seen as a ‘safe’ and sensible long-term investment for many.
Mid 2014 saw a significant number of planning amendments with the creation of new residential zones allowing for much higher building density in areas with good access to shopping, transport and services. These changes will affect the growth and development focus in 2015, but is very dependent on the particular area. Positions close to all the sought after facilities (good schools, shops, transport etc.) will continue to perform well in 2015.
Early 2014 saw the owner/occupier market much stronger than the investor market. However, this became more balanced as the year progressed and, with the Australian dollar at a reduced level, we are likely to continue to attract foreign investors to our shores during 2015.
In particular, the Asian market which is enticed by high-quality public schools and universities.
Property owners can relax as the demand for property will stay strong in 2015 and low interest rates will give buyers both the confidence and the ability to purchase.
At Hodges, we are already preparing properties for sale for the first quarter of 2015. Expect to continue to see growth in 2015, albeit on a slightly more conservative scale than the previous year as there will be some economic uncertainty resulting from the Australian budget position.
Campbell Cooney is Principal and Franchise Director of Hodges Real Estate in Victoria.
 
</body></html>

CampbellCooney-Zu8e5u5KU2

Demand for Melbourne property will stay strong in 2015: Hodges

<html><body>
Mirvac seems to be adding a royal touch to their developments at Yarra's edge, having recently installed a structure on the rooftop of their apartment tower Array.
Next door, the T5 apartment tower is often called the "King" of Yarra's Edge, according to Mirvac group executive residential development John Carfi.
Naturally, this theme has been continued, with Array now featuring a regal sculpture on level 40 - a 65 tonne steel crown, which took 12 weeks and 20 separate modules to install that can be seen from the skyline.
Carfi explained that the vision is to elevate the sight-lines down the busy streets of Melbourne with clever architecture.
"When people peer down Flinders Street they will now see, framed by the city's mix of heritage and contemporary architecture, these two unique buildings crowned in sculptural steel," said Carfi.
Currently, 85% of Array's 203 homes have been sold, with residents to move in during the first half of 2016. It features one, two, three and four bedroom apartments, and includes twin multi-level penthouses.
The East Penthouses has been designed by Megan Hess, using her homewares and artwork. She is best known as the Sex and the City cover designer, the project that launched her career.
"A large proportion of Array purchasers are empty nesters keen to downsize from more demanding properties in the suburbs. Array's location, expansive apartment sizes and diversity of floor plans have been hugely appealing to buyers, with around 60% of purchasers planning to own and occupy," Carfi said.
"This area is forecast to be one of the fastest growing inner-urban areas in Victoria over the next 10 years, and Array purchasers are buying into an exclusive waterside lifestyle in a neighbourhood of award-winning homes with their own full service marina right on their doorstep," he said.
</body></html>

Mirvac waxes lyrical over their 'King' of Yarra's Edge

<html><body>
GUEST OBSERVATION 
According to the theme tune of a popular TV programme, ‘everybody needs good neighbours’, and it seems some streets in Melbourne’s bay side suburbs have got this just right.
Throughout December, several streets in St Kilda and Elwood closed for neighbourhood Christmas parties. In addition to creating a strong community atmosphere, these types of events can also make a location more desirable and have a positive impact on property values over time.
In the City of Port Phillip, Glenmark Avenue and Moodie Place in St Kilda, Leslie Street in St Kilda East and Cyril Street and Heaton Avenue in Elwood are home to close-knit communities that hold street parties over the Christmas period and open houses during Halloween. Properties on these streets command premium prices and attract larger numbers of bidders than surrounding streets, as people look to purchase a slice of this lifestyle. Families in particular are drawn to these types of streets and neighbourhoods.
In addition to offering strong community relations, the presence of many like-minded residents often also results in better quality local resources and facilities, such as neighbourhood houses, schools and community groups. These amenities also act to increase property price, ensuring a sound investment for the future. Not to mention that surrounding yourself with like-minded people often results in long-term friendships.
When buying a property it is crucial to research the local area. Drive through the street at different times of the day and visit the local council to check any building developments or restrictions that are in the planning stages in the area. Speaking to a well-informed local real estate agent can also be beneficial, as they can share their extensive knowledge of the local streets and market.
In addition to researching the local area it is also necessary to hone your research down to the actual street you wish to purchase on. Streets where community pride is valued tend to be more desirable places to live, so the value of property in such streets tends to remain steady or increase, making them a great return on investment.
By investing the time and energy initially by researching a local area and its community, this not only increases your quality of life, but can also pay significant dividends on the resale price of your property.
Michael Townsend is director of <a href="https://www.hodges.com.au/" target="_blank">Hodges St Kilda</a>.
</body></html>

MichaelTownsend-fvzusRr7mo

You can’t choose your neighbours – or can you? 

<html><body>
A median priced house in Melbourne cost $660,000 in the December quarter, according to CoreLogic RP Data.
The city's median house price was up 1.8% from the previous month's result, and up 8.4% year-on-year. Melbourne houses are the second most expensive in the country, with Sydney's median house price clearing Melbourne's by almost $200,000, at $858,000.
Property Observer looks to recent sales to see just what $660,000 will buy you in Melbourne.
<ul>
<li><a href="https://www.realestateview.com.au/Real-Estate/121-purinuan-road-reservoir/Property-Details-sold-residential-7882336" target="_blank" style="line-height: 1.3em;">121 Purinuan Road, Reservoir </a></li>
</ul>
 <img src="/images/2015/01/01/1.jpg" alt="">
This three bedroom, corner block home in Melbourne's northern suburbs sold for $659,000 in late November. The house has one bathroom with a spa bath, an open plan living and dining area and a separate lounge room, with hardwood floors throughout. The 847 square metre site includes outdoor entertaining areas and a sizeable backyard.
Price: $659,000
Bedrooms: Three
Drive to CBD: 26 minutes
<ul>
<li><a href="https://www.realestateview.com.au/Real-Estate/4-ainslie-park-avenue-croydon/Property-Details-sold-residential-7676646" target="_blank" style="line-height: 1.3em;">4 Ainslie Park Avenue, Croydon</a></li>
</ul>
<img src="/images/2015/01/01/2.jpg" alt=""> 
A circa 1950s weatherboard house secured $660,000 when sold in October last year. There are three bedrooms, a study and one bathroom, with timber flooring. The house sits on a 836 square metre plot, around 27 kilometres from Melbourne's CBD.
Price: $660,000
Bedrooms: Three
Drive to CBD: 30 minutes
<ul>
<li><a href="https://www.realestateview.com.au/Real-Estate/milano-court-bundoora/Property-Details-sold-residential-7951782" target="_blank" style="line-height: 1.3em;">2 Milano Court, Bundoora</a></li>
</ul>
<img src="/images/2015/01/01/3.jpg" alt="">
Buyers paid $660,000 for this double storey Bundoora home last month. The five bedroom, two bathroom house sits 671 square metres. It also includes a formal lounge and dining area, an open plan living and dining space, a study and an additional living area upstairs.
Price: $660,000
Bedrooms: Five
Drive to CBD: 28 minutes
<ul>
<li><a href="https://www.realestate.com.au/property-house-vic-sunshine-118260851" target="_blank" style="line-height: 1.3em;">13 Tyler Street, Sunshine</a></li>
</ul>
 <img src="/images/2015/01/01/4.jpg" alt="">
A three bedroom house sold for $660,000 in Melbourne's Western suburbs last November. The weatherboard house has polished timber floors, a garage with a separate workshop, and built in robes in each of the bedrooms. It's set on a 670 square metre block.
Price: $660,000
Bedrooms: Three
Drive to CBD: 26 minutes
<ul>
<li><a href="https://www.realestateview.com.au/real-estate/melbourne/melbourne-east/mulgrave/houses-for-sale/" target="_blank" style="line-height: 1.3em;">35 Carson Street, Mulgrave</a></li>
</ul>
 <img src="/images/2015/01/01/5.jpg" alt="">
On the other side of town, this three bedroom house sold for $656,000. The home has three bathrooms, a timber kitchen and inbuilt cabinetry in the family room. The 680 square metre plot includes an outdoor entertaining space with a built in barbecue and a pool with a bungalow and pool storage room.
Price: $656,000
Bedrooms: Three
Drive to CBD: 680 square metres
</body></html>

Melbourne

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Melbourne

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News