Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&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.

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

Melbourne

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Whyte’s from Torquay has committed to a new $270,000 lease at Melbourne Docklands.
It ranks as one of the biggest food and beverage deals done in the Victoria Harbour precinct this year in a deal negotiated by Savills Australia.
Located at 829 Bourke Street, on the south-west corner of Merchant Street, Savills Australia Victorian retail director Michael Di Carlo said the deal was struck at circa $600 a square metre per annum net on a five year term.
The property comprises a 450 square metre building area over two levels with 250 square metres on the ground floor and 200 square metres upstairs with views to the CBD and the Harbour from a large balcony.
Di Carlo said Whyte’s, which has a very popular wine bar and restaurant on The Esplanade, at coastal Torquay, sought to make a grand statement with a contemporary style restaurant offering.
The lessor is Lend Lease.
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jchancellor-FAypfDUnLy

Victoria Harbour secures Whyte's from Torquay restaurant lease deal

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GUEST OBSERVATION
Melbourne is undergoing a profound shift. It’s a renaissance of sorts – yet, instead of the rebirth emanating from the centre of the city, all the action is happening on the city’s fringes and in nearby suburbs. 
Here’s why I believe this to be the case.
In the inner city, enormous towers are rising up at alarming speeds, often fuelled by offshore investment. In the long-term, these 100 plus level towers simply cannot hold their value as the sheer number of them has a diluting effect.
On the flip side, boutique projects on the fringes of Melbourne are proving to stand the test of time and really hold their resale value. They have enduring appeal for owner-occupiers who seek a great location close to transport and parkland. These buyers also appreciate the fact that they are buying into a smaller development that will be shared with other owners like themselves – instead of disconnected investors.
And, perhaps most importantly for the bank balance, these projects are unique. You want to buy into something that hasn’t been repeated 20 times in a similar area – a property that will retain its value into the future.
The key is to get in early when these one-of-a-kind projects are in their planning stages. By buying off the plan, you will secure a great investment and should reap significant monetary gains in the long-term.
<h3>Tips for off the plan purchases</h3>
Buying off the plan has its risks and it’s important to be as thorough as you can. Ask yourself key questions about what you’re after, and why; and seek advice at every turn. The more knowledge you have, the closer you’ll come to finding a property that ticks all of your boxes – now and into the future.
Here are my key tips for purchasing property off-the-plan:
<ol>
<li>
Know your borrowing capacity  Find out how much you can borrow, and make sure you’re comfortable with your debt level and the monthly repayments. 
</li>
<li>
Seek boutique, ideally located projects  For enduring value, seek out boutique projects in well-located positions, close to public transport, cafes, grocery stores, markets, parklands, gyms, or universities. 
</li>
<li>
Investigate the project developer  Look at their track record and ask around to get an idea of their reputation. 
</li>
<li>
Investigate the project builder  Find out about the building company (if different to the developer), paying particular attention to their track record for successful, on-time project delivery. 
</li>
<li>
Choose an experienced ‘off the plan’ conveyance  Not all conveyancers have experience in off-the-plan purchasing, so it is important to ask at the outset what their background is. If they haven’t worked in the off the plan space, look elsewhere. 
</li>
<li>
Read the contract of sale  Ask for the contract of sale and read it carefully. Pay particular attention to sunset clauses, defect periods/warranties provided by the builder, and estimates of body corporate charges. Ask yourself whether they are realistic or excessive. 
</li>
<li>
Know the size of development  Find out how many apartments are in the development, and ask yourself if you’re happy with the number. 
</li>
<li>
Review the fit out and specifications  Ensure that quality isn’t skimped in any area. Pay attention to everything – joinery materials, quality and brand of appliances, heating and cooling appliances, the energy rating, glazing properties, handling of refuse, ducting of exhaust, mechanical ventilation, and so on. If you’re unsure about any of these elements, seek professional advice. 
</li>
<li>
Consider car parking   Find out whether on-site parking is included, where the parking spaces are, or whether car parking is available on surrounding streets. 
</li>
<li>
Beware the ‘added extras’  While swimming pools, saunas and gyms sound great in theory, they can erode an investment’s return in the longer term because of excessive maintenance and upkeep fees.</li>
</ol>
Then, once you’ve bought off the plan and are enjoying your new home as an owner-occupier, I strongly encourage you to join the body corporate. Living onsite, you have a vested interest in the upkeep and smooth running of the building’s public areas – and can help to preserve the property’s value into the long term.
Damon Krongold is director of <a href="https://www.bellergroup.com.au/" target="_blank">Beller Project Marketing</a>.
Beller Real Estate has been part of the Melbourne property market for over 50 years.
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DamonKrongold-BsycV2puKv

Melbourne's boutique apartment renaissance: 10 tips for buying off the plan

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There were $1.3 million plus hopes when a warehouse apartment went to weekend auction in Fitzroy.
It was within one of the former MacRobertson's Chocolate Factory premises.
The three bedroom, two level apartment sold with its price undisclosed through the Nelson Alexander agency. 
The <a href="https://www.domain.com.au/property/for-sale/house/vic/fitzroy/?adid=2011550108" target="_blank" style="line-height: 1.3em;">top-floor warehouse apartment</a> came with exposed brick walls, original windows and soaring ceilings.
The 50/183 Kerr Street property sold in 1998 at $320,000.
{qtube vid:=GEszGAugmyA}
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Fitzroy warehouse apartment offering takes the undisclosed chocolates

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GUEST OBSERVATION
For many years Balaclava was considered a modest Melbourne suburb compared to many of its more affluent neighbours, like Prahran. 
However, in recent times the area has undergone a big transformation - the introduction of a number of new trendy eateries and a $20 million facelift to Balaclava station lending it desirability, style and sophistication. 
Unsurprisingly, this has made the suburb quite popular among younger investors wanting to secure property in close proximity to Melbourne’s CBD and its beaches. Bordered by Inkerman Street, Chapel Street and Hotham Street, Balaclava’s demographic encompasses a diverse mix of residents - from young professionals and families, to bohemian artists and musicians. The area also boasts a sizable Jewish community.
Balaclava’s main shopping strip, Carlisle Street, offers residents a selection of amenities including boutique shops and popular cafes like Las Chicas, Batch and the recently opened Glass Merchants – all of which attract long queues year round.
For those looking for evening dining some of the jewels in Carlisle’s crown include Ilona Staller - sister restaurant of St Kilda’s revered Cicciolina, Carlisle Street Wine Bar and Uncle which allows diners to enjoy Vietnamese cuisine on the restaurant’s quirky rooftop terrace.
Those looking for some retail therapy are not forgotten with a number of new boutiques opening recently including A Part of Me, Lulu and neighbouring Little Lulu.
The suburb has a well-connected transport system; with trains from Balaclava station transporting residents into the CBD in less than 15 minutes. The station’s $20 million upgrade has afforded it ‘Premium Station’ status - meaning its platforms are staffed seven days week during train operating hours. The area’s tram network services St Kilda Road and St Kilda beach, whilst Hotham Street operates as a major bus route.
Balaclava’s median property price of $872,500 for a house and $455,000 for a unit, means the area is generally more affordable then its neighbouring suburbs. Over half of the home owners in the area are unmarried and the largest percentage of residents fall into the 25-34 year old bracket. Over 50% of residents reside in a flat, unit or apartment - of which over half are rented. 
The types of property in the area can be categorised as follows:
<ul>
<li>Single fronted Victorian worker’s cottages.</li>
<li>A significant number of Art Deco apartment blocks</li>
<li>Brick Edwardian homes</li>
<li>1950s, 1960s, and 1970s style apartment blocks</li>
<li>Californian bungalows</li>
<li>New apartment blocks being developed</li>
</ul>
Property prices in Balaclava have risen steadily over the past 10 years and given the area is considered a high demand market this is likely to continue.
Selecting an apartment within smaller blocks, looking for unique features and selecting properties with dual street frontages are some tips to investing wisely in the area.
Josh Stirling is director of <a href="https://www.hodges.com.au/hodgesstkilda" target="_blank">Hodges Real Estate St Kilda</a>.
Photo of Carlisle Street, Balaclava: Public domain.
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JoshStirling-dVWworv6XS

Balaclava: Demographic shifts and gentrification adding to area's desirability

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The median price of a house sold in the October quarter was $615,000, according to CoreLogic RP Data. But what will that price actually buy?
The data house recorded a 1.8% increase in Melbourne house values over the quarter, with 9.2% growth over the past year. For October, Melbourne's median house price was $177,000 lower than Sydney's.
Property Observer looks to recent Melbourne sales to see just how far $615,000 will go in the city's housing market.
<ol>
<li>
<a href="https://www.realestateview.com.au/Real-Estate/28-kenneth-street-preston/Property-Details-buy-residential-7806302" target="_blank">28 Kenneth Street, Preston, Vic</a>  <img src="/images/2014/11/24/1.jpg" alt="">
This three bedroom <a href="/news">Preston </a>house sold for $616,000 last week. Located 9 kilometres north of the Melbourne CBD, the home is within walking distance of Northland Shopping Centre and an eight minute drive to La Trobe University.
The house, situated on a 482 square metre plot, features leadlight windows, a brick open fireplace and a decked outdoor entertaining area.
Price: $616,000
Bedrooms: Three
Drive to CBD: 20 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-aspendale-117919899" target="_blank">44 Kubis Avenue, Aspendale, Vic</a>
 <img src="/images/2014/11/24/2.jpg" alt="">
Located in the bayside suburb of <a href="/news">Aspendale</a>, this three bedroom house sold for $620,000 last month. The home has two living areas, built in robes in all the bedrooms and two bathrooms. The house is situated in the centre of its 531 square metre plot, with a front and rear garden.
Price: $620,000
Bedrooms: Three
Drive to CBD: 40 minutes
</li>
<li>
<a href="https://www.realestateview.com.au/Real-Estate/3-karina-court-keilor/Property-Details-buy-residential-7856868" target="_blank">3 Karina Court, Keilor, Vic</a>
<img src="/images/2014/11/24/3.jpg" alt=""> 
Selling for $615,000, this bedroom house is located in <a href="/news">Keilor</a>, 20 kilometres north-west of Melbourne's CBD.
The house, situated on a cul-de-sac, the house has three bedrooms, including a master with walk in robes and en suite. There is a formal lounge, formal dining room and informal dining area next to the kitchen.
Price: $615,000
Bedrooms: Three
Drive to CBD: 25 minutes
</li>
<li>
<a href="https://www.realestateview.com.au/Real-Estate/mayfield-grove-altona-meadows/Property-Details-sold-residential-7646847" target="_blank">19 Mayfield Grove, Altona Meadows, Vic</a>
 <img src="/images/2014/11/24/4.jpg" alt="">
Currently a three bedroom brick house, this property with a town planning permit for four double storey townhouses sold for $616,500 earlier this month.
The house is advertised to rent at $400 per week, representing a rental yield of 3.4%. <a href="/news">Altona Meadows</a> is located 17 kilometres south east of the Melbourne CBD.
Price: $616,500
Bedrooms: Three
Drive to CBD: 23 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-taylors+hill-117402263" target="_blank">7 Elm Tree Close, Taylors Hill, Vic</a>
 <img src="/images/2014/11/24/5.jpg" alt="">
This four bedroom house sold for $605,000 last month. It has a formal lounge with cathedral ceilings, a study, open plan living and dining area, a butler's pantry off the kitchen, and a cinema room. The house sits on a 749 square metre allotment.
Price: $605,000
Bedrooms: Four
Drive to CBD: 28 minutes
</li>
</ol>
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jrichardson-uRX5hFdKfN

What can you buy for Melbourne's median house price?

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Melbourne’s weekend auction market continues to report moderating results from high late spring auction volumes.
The Melbourne weekend auction market reported the lowest clearance rate this year.
The weekend result of 67.1% was well below last weekend’s 72.1%, according to Australian Property Monitors.
A surge in late spring auctions numbers is impacting market activity with buyers increasingly spoiled for choice.
Some 1,154 properties were listed for auction, almost identical to the previous weekend’s 1,153 and well ahead of the 931 auctions conducted over the same weekend last year.
There are over 1,300 auction expected this Saturday. 
Melbourne’s west hosted the most number of auctions with 187 closely followed by the inner south with 186, the inner city and the inner east each with 157, the outer east 152, the north east 142, the north 91 and the south east  49.
The most popular suburb for auction listings on the weekend in metro Melbourne was Glen Waverley in the outer east with 22 followed by Reservoir in the north-east.
Melbourne’s four weekend average clearance rate has fallen to 72.7% well down on the previous four weekend average result of 75.%.  
Melbourne’s outer east suburban auction market remains resilient recording clearly the highest clearance rate of all the regions at the weekend with 82.%.
The next highest was the inner east with a rate of 71% followed by the inner south 70.%, the north 66.2% and the north east with a clearance rate of 66.0%.
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Melbourne weekend clearance rate dips to 2014 low

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There are 1,187 auctions scheduled this week in Melbourne compared to 1,172 for the same time last year.
The most auctions are expected in <a href="/news">Reservoir</a> with 24 expected followed by 23 in both <a href="/news">Bentleigh East</a> and <a href="/news">Glen Waverley</a>.
The clearance rate over the past few weeks has provided further confirmation that the market is healthy but not booming.
This is also obvious when the home values are both corrected for inflation and then compared to the previous peaks. At the end of September house values in Melbourne were 3% below their peak in real terms and units 5.4% lower. In many parts of Melbourne buyers have better purchasing power than they did in 2010.
Clearance rates may have dropped but the private sale market continues to tighten.
On a citywide basis, the time on market results for houses sold at private sale was stable at a very low 31 days over the last week and vendor discounting dropped to -4.7%.
Key data:
<ul>
<li>Clearance rate week ending 16 November: 68.9%</li>
<li>Melbourne auctions expected week ending 23 November: 1,187</li>
<li>Melbourne private sales time on market week ending 16 November: 31 days (houses)</li>
<li>Melbourne vendor discounting market week ending 16 November: -4.7% (houses)</li>
<li>Listings being prepared for market are 4.3% higher in month ending 16 November (seasonally adjusted)</li>
</ul>
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rlarocca-zWhvjay44N

Market healthy, but not booming: RP Data's weekend auction preview

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GUEST OBSERVATION
With an abundance of gourmet eateries and a popular nightlife scene, St Kilda is often described as Melbourne’s playground by the beach.
Located just six kilometres from the CBD, the area attracts an eclectic mix of residents - from young families to bohemian artists and musicians, as well as tourists and young professionals. St Kilda is bordered by six kilometres of coastline and its beach is possibly Melbourne’s most famous.  Today, the population of the area stands at around 17,795.
The suburb offers residents and tourists a cosmopolitan lifestyle; boasting trendy cafes and bars as well as award winning restaurants and quirky independent stores. The area has numerous shopping strips, each unique in what they offer to visitors. Acland Street is arguably the most popular of them all; renowned for its European inspired cake stores – some of which date back to the 1940s. Fashion boutiques, trendy cafes and local institutions like Cicciolina’s restaurant, are also dotted along the strip.
Acland Street is linked to equally iconic Fitzroy Street and the Esplanade, which is home to a vibrant Sunday market where local artists congregate and sell their wares.  Over the past few years, Fitzroy Street has started to lose its grungy image and now houses upmarket restaurants owned by celebrity chefs. A case in point is Andrew McConnell’s restaurant Luxemburg.
Carlisle Street has also experienced a recent gentrification - with new cafes and restaurants opening up of late. The popular Radio Mexico restaurant, Galleon café and Italico, continue to attract long diners waiting to get their fix. These eateries sit alongside more traditional cake stores and coffee shops, which gives the street an eclectic feel.  Carlisle Street’s recent facelift and affordability, is attracting young people keen to get a foothold on St Kilda’s property ladder.
St Kilda has a well-connected public transport system. A number of trams head directly into the CBD and trains from recently renovated Balaclava station transport commuters to Flinders Street in just 15 minutes.
With a median property price of $875,500 for a house and $480,000 for a unit, the area is generally more affordable than surrounding suburbs Middle Park, Albert Park and Elwood. Over half of the home owners in the area are unmarried and the largest percentage of residents fall into the 25-34 year old age bracket.  This is reflected in the housing options available in the area - with over 70% of residents residing in a flat, unit or apartment.  
The types of property in the area can be categorised as follows:
<ul>
<li>A significant number of art deco apartment blocks</li>
<li>Victorian terraces and cottages</li>
<li>Spanish mission style buildings</li>
<li>Edwardian homes</li>
<li>1970’s style apartment blocks</li>
<li>New apartment developments</li>
</ul>
Property prices in St Kilda have risen steadily over the past 10 years and this is likely to continue given the strong demand for property in the area.
With an average of 55 people showing interest per property – higher than the state average - it pays to do your research and be selective when it comes to a property’s position, style and type. 
Selecting a property within smaller blocks as well as identifying something unique will pay dividends in your future investment.
Michael Townsend is director of <a href="https://www.hodges.com.au/st-kilda-real-estate" target="_blank">Hodges Real Estate St Kilda</a> and a local St Kilda resident.
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MichaelTownsend-fvzusRr7mo

St Kilda: Melbourne’s playground by the beach

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Brighton beach's latest bathing box, 57a, has been listed for 13 December auction. 
The current 88 boxes are a throwback to the 19th century, when the increasing popularity of sea bathing clashed with Victorian-era prudishness.
The first of the council's newly built weatherboard-clad structures with gabled roof offerings, reported to cost between $15,000 and $20,000 to build, fetched $215,000 at auction in December 2010.  
Box 57a is one of the six brand <a href="https://www.domain.com.au/property/for-sale/house/vic/brighton/?adid=2011604508" target="_blank">new bathing boxes</a>. There are another 10 coming.
More than $200,000 is tipped despite the looming influx.
It has been listed through <a href="https://www.domain.com.au/property/for-sale/house/vic/brighton/?adid=2011604508" target="_blank">John Clarkson at Hockingstuart Brighton</a>. His last sale was $172,500 in February this year for<a href="https://www.realestate.com.au/property-house-vic-brighton-115946127" target="_blank"> box 38</a>.
John Clarkson was the first to auction one in 1999, selling 58 for $58,000.
Only Bayside ratepayers can have one, with owners paying the council an annual fee of around $600 for the right to have a building on a beach.
Proceeds from the sale will be used to fund improvements to Dendy Street beach including landscaping, a new pavilion, public toilets, access paths and a new car park.
It has been a little quiet on the bathing box sales front but recent known sales have included:
<ul>
<li>December 2013 $220,000</li>
<li>December 2011 $204,000</li>
<li>June 2011 $260,000 record</li>
<li>
December 2010 $215,000 
</li>
</ul>
Bayside Council have now built six 'infill' boxes.
The first four sold for more than $900,000 in total.
Councillor Alex del Porto said creating more of the highly-valued commodities made economic and tourist sense.
"This is the iconic beach for Melbourne, maybe for all of Victoria," del Porto said last year.
"We don't have the Sydney Harbour Bridge, but we do have these bathing boxes."
Last year Brighton Bathing Box Association secretary Bill Meares said community surveys showed people were heavily in favour of additions, despite their actual lack of heritage.
In the 1930s there were up to 120 bathing boxes on the beach, some subsequently washed away on the south end.
{qtube vid:=IfNoHWIvxKQ}
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$200,000 plus hopes for bright new bathing box on Brighton beach

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While some commentators suggest a slowdown in city markets, there’s little evidence of that in Melbourne.
There are growth markets spread throughout the Melbourne metropolitan area. There isn’t a single market leader, but strong precincts north, south, east and west of the Melbourne CBD.
Local government areas that feature as places with forward momentum include Brimbank in Melbourne’s west; Monash in the mid south-east; Casey, Kingston and Greater Dandenong in the far south-east; Mornington Peninsula in the far south; Whitehorse in the east; Darebin in the mid north; and Whittlesea in the far north.
Upmarket areas such as the Boroondara LGA (including Balwyn, Ashburton, Hawthorn and Kew), and the Glen Eira LGA (Bentleigh, Elsternwick and Caulfield) feature, but most of the standout precincts are middle market and bottom end suburbs.
Melbourne’s up-cycle began in 2013 with the inner city and the prestige suburbs of the inner south-east. But in 2014 the momentum has spread increasingly to the middle ring and outer ring suburbs.
Whittlesea in the north of the metropolitan area is a strongly emerging precinct, where suburbs like Epping, Mill Park and Thomastown have rising sales volumes. In consecutive quarters this year Epping house sales have risen from 75 to 112 to 115, while Mill Park has jumped from 64 to 86 to 97 houses sales per quarter.
The key feature for the suburbs in this precinct is affordability (median house prices in the high $300,000s), coupled with good transport links and easy access to major jobs nodes.
The Darebin municipality in the mid north is another rising precinct, where Preston, Thornbury and Reservoir stand out. Sales in Preston, normally around 100 per quarter, were 170 to 180 in both the June and September Quarters.
The Brimbank LGA in the western suburbs continues to stand out, based around the suburb of Sunshine. Sales volumes in Sunshine North have been 36, 45, 48, 54 and 61 in consecutive quarters, a pattern that inevitably generates prices growth.
Again, it’s the power combination of affordability, good infrastructure (including a major hospital and two university campuses) and jobs nodes that drives this precinct, with the major boost of the Melbourne transport hub for the Regional Rail Link on the way.
Similar forces are pushing the market in the Casey LGA in the south-east, where there are eight growth markets. Nearby Greater Dandenong has five rising suburbs.
The Kingston LGA, which includes middle market suburbs such as Cheltenham and Parkdale, continues to emerge.
Other middle market areas to feature are the Monash and Whitehorse LGAs.
Monash City, another precinct boosted by the presence of major education and medial infrastructure, has multiple growth markets, while the Whitehorse LGA east of the Melbourne CBD has eight rising suburbs, including Box Hill, Blackburn, Forest Hill and Surrey Hills.
Market momentum in the Melbourne metropolitan area spreads down to the Mornington Peninsula in the far south, where suburbs like Dromana, Blairgowrie, Rosebud and Mount Martha are moving forward.
Dromana, which was making 40 to 45 sales per quarter last year, is now doing 60 to 70. Inevitably, price growth has followed, with the median house price up 11% in the past 12 months.
You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or <a href="https://twitter.com/hotspotting" target="_blank">Twitter</a>. 
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