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 international 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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There are 999 auctions scheduled this week in Melbourne compared to 1,123 for the same time last year.
The most auctions will be found in <a href="/news">Mount Waverley</a> with 20, followed by 19 in <a href="/news">St Kilda</a> and 16 in <a href="/news">Glen Waverley</a>.
With just under two months remaining in the year it is worth noting that October was a relatively good month for sellers with the growth in home values increasing more strongly than in August and September.
The release this week of the RP Data CoreLogic Home Value Index showed that Melbourne house values rose by 2.1% over the month and by 1.8% over the last three months. Units saw a small rise of 0.5% in the month and 2.2% in the quarter. Over the more important longer term, the house value index outpaced units with a 9.5% rise over this year compared to 3.1%.
Auction market conditions are similar to those in the private sale market. On a citywide basis, the time on market results for houses sold at private sale tightened again from 33 days to 31 days over the last week whilst vendor discounting remained stable at -4.8%.
Key data
<ul>
<li>Clearance rate week ending 2 November: 69.6% 
</li>
<li>Melbourne auctions expected week ending 9 November: 999 
</li>
<li>Melbourne private sales time on market week ending 2 November: 31 days (houses) 
</li>
<li>Melbourne vendor discounting market week ending 2 November: -4.8% (houses) 
</li>
<li>Listings being prepared for market are 5.2% higher in month ending 2 November (seasonally adjusted)</li>
</ul>
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RP Data's Melbourne weekend auction preview

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GUEST OBSERVATION
Melbourne is one of the top cities chosen in Australia by property investors from overseas, in particular the Chinese investor. 
Last year, nearly $6 billion was spent on Australian real estate by Chinese investors and Credit Suisse predicts that Chinese nationals will spend around $44 billion on Australian residential real estate over the next seven years. 
Therefore, as more and more Chinese investors cast their eyes towards investing in Melbourne, it will pay to ensure that the real estate agent who is selling your property has a good understanding of, and is well networked with this lucrative buyer market.
Helping to attract wealthy Chinese to Australian shores is the Australian government’s new visa system – the significant investor visa.  Over 90% of the people who have <a href="https://www.bbc.com/news/world-australia-29611137" target="_blank">successfully applied for this visa are Chinese</a>. 
Melbourne already has a large Chinese population. In fact, <a href="https://chinatownmelbourne.com.au/about-chinatown/" target="_blank">Melbourne has the oldest Chinatown in the world</a>, outside of China, and its Chinese population continues to grow steadily and gravitate towards specific areas, with one example <a href="/news">Bentleigh</a>, in Melbourne’s south-east. Over the past three years the Chinese population in Bentleigh has flourished and grown exponentially.  
Chinese buyers heading to Australian shores value the cost of our properties (Australia is still relatively cheap compared to a lot of cities around the world), our good education system, quality of life, public security and clean air. Bentleigh’s attraction to the Chinese buyer lies primarily in its good schools, but also in the attractive large and modern houses it has to offer.
The suburb features a number of excellent primary schools, and is in the catchment area for one of the best public schools in the area, McKinnon Secondary College. Additionally, Bentleigh is attractive to the Chinese investor for its proximity to Melbourne’s CBD (just 12 kilometres away), its good transport links and its access to the Bayside beaches.
For real estate agents operating in areas that are culturally diverse, it is important to have a team that understands the local market and therefore has the ability to effectively target prospective buyers.  Hodges works tirelessly to ensure clients get the best possible outcome for the sale of their property and this means targeting all prospective buyer groups in the local area.
Ultimately, getting the best price for a property is about maximising the number of interested buyers, so therefore given we know what we do about the Chinese investor; it would be negligent not to include them as an important stakeholder group.
It is for this reason that every Hodges Bentleigh property listing is translated into Mandarin and listed on the Gifang.com site. This means our clients are able to tap into a huge market of potential Chinese-speaking buyers that we know are actively looking to buy in Melbourne. Hodges also offers a translation service so that we can communicate with Chinese buyers in Chinese.
There is no shortage of Chinese investors in the Melbourne property market and this is great news for those selling properties in areas that are attractive to Chinese investors. As a vendor it pays to select an agent with a sound knowledge of the Chinese investor market. After all, extending the reach of a campaign to include another layer of buyers will only help to ensure the best price come auction day.
Frank Ruffo is director of <a href="https://www.hodges.com.au/hodgesbentleigh" target="_blank">Hodges Bentleigh</a>.
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po-LsXgBTHBmX

Tapping into Melbourne's Chinese investor interest

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The Melbourne suburb of Hawthorn is a favourite among top end owner occupiers and investors alike.
Six kilometres east of the CBD, the suburb sits along Melbourne's private school belt, and is home to Scotch College. Next to Kew and Camberwell, it also offers easy access to Xavier College, Carey Baptist College among many other private schools.
Glenferrie Road is the main shopping and leisure strip in the suburb, with a variety of cafes, grocery stores and clothing retailers. The strip also serves as the central public transport hub, with Glenferrie Station and the route 16 tram. The suburb also houses Auburn Railway Station and Hawthorn Station, while tram routes 48, 70, 72, 75 and 109 also cart private school students to and from the area.
One of Melbourne's older suburbs, Hawthorn has managed to stretch its post-gold rush riches to the present day. It remains a desirable spot to some of the city's wealthiest families, with RP Data recording a median house price of $2,135,000 for September.
Its early popularity also means the suburb is populated with Victorian and Edwardian homes, which are a major drawcard for buyers, according to Marshall White Hawthorn's Stuart Evans.
He told Property Observer that a combination of character homes, local educational institutions and local amenities command demand from premium buyers.
{qtube vid:=Ug3X6GJnYpU}
Evans did, however, also note that the area sees a diverse mix of stock.
"Hawthorn's market is mainly made up of period homes: beautiful Victorians and Edwardian homes. There is a good mixture of apartments - high density living apartments - due to Swinburne University, so we see that offers some great opportunities for investors as well," Evans said.
Swinburne University attracts a number of students to the suburbs, with multiple low rise apartment complexes in the area catering to students.
However, according to SQM Research, the implied gross rental yield of apartments in the area has been volatile, reaching above 10% in mid-2010 and now sitting around 5%. SQM Research estimates that a two bedroom unit is likely to attract $400.30 at the time of writing.
This <a href="https://www.realestate.com.au/property-apartment-vic-hawthorn-414307723" target="_blank">two bedroom apartment</a> is currently advertised at $385 per week (pictured below).
<img src="/images/2014/10/28/hawthorn%201.jpg" alt="">
According to RP Data, the median asking price for a unit in Hawthorn is $593,000.
Median unit prices, which grew by 6.4% in 2013, saw a big uptick in 2010, with RP Data recording 32.4%. They certainly fared better through the period than house prices, which dipped in 2009 by 10.8%.
Hawthorn was not immune to the post global financial crisis downturn in prestige prices, although it has made a recovery, with 13.8% capital growth in median house prices in 2013.
The suburb's premium houses still command high prices: late last month, the six bedroom house pictured below <a href="/expert-insights/buying/rammed-earth-hawthorn-5-35-million-sale-rp-datas-top-10-sales">sold for $5.35 million</a>.
<img class="img-responsive" src="/images/2014/10/7/rammedearth_0009_image2.jpg.jpg" alt="Rammed earth Hawthorn $5.35 million sale: RP Data's top 10 sales">
But the high volume of student accommodation means it's not all prestige stock in Hawthorn. At the other end of the spectrum, this <a href="https://www.realestate.com.au/property-apartment-vic-hawthorn-106622918" target="_blank">25 square metre apartment</a>, advertised as "larger than most", was offered with a price guide of $99,000 after buyers failed to bite at $165,000 (pictured below).
<img src="/images/2014/09/11/d1.jpg" alt="">
It was on the market for <a href="/news/vic/25-square-metre-larger-than-most-apartment-the-most-discounted-property-in-victoria-sqm">four years</a>, and finally sold in September for $92,000.
Feature photo of Glenferrie Road courtesy of <a href="https://commons.wikimedia.org/wiki/User:Diliff" title="User:Diliff">Diliff</a>/<a class="mw-mmv-license cc-license" href="https://www.propertyobserver.com.au/https://creativecommons.org/licenses/by-sa/3.0" target="_blank">CC BY-SA 3.0</a>.
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jrichardson-uRX5hFdKfN

Suburb spotlight video: Hawthorn – blue chip, but a mixed bag

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Melbourne property market transaction numbers are marginally higher on what they were this time last year, with the growth largely coming through auction sales.
Comparing the months with the vast majority of settled sales, from January to July, the results show a rise of 3.7% compared to a year ago.
On a month by month basis, the majority of the growth occurred in March and April when in excess of 1,000 auctions were recorded across five consecutive weeks.
This same occurrence also took place between 2012 and 2013. In 2013 there were 9,738 more home sales in Melbourne than in 2012 and there were 10,175 extra sales by auction.
The growth in volumes was completely accounted for through the use of auctions. The same seems to be the case this year.
Based on the first seven months of the year, there have been 1,725 more home sales and at the same time 3,248 more sales by auction.
These numbers highlight one of the key characteristics about auctions and where they work well when there is competition between buyers. Competition such as this can arise through many means; there may be an inadequate number of homes on the market or something unique about the property in question.  This is why auctions are rarely used in the outer suburbs and more frequently used in the inner city.
When making the decision of how to sell, owners would be well advised to keep this factor in mind and listen to the advice of their real estate agent.
There are 175 auctions scheduled this week in Melbourne compared to 196 for the same time last year. The low volumes are a result of the Melbourne Cup on Tuesday and ensure that the week’s auction results will not be a useful auction market indicator.
Last week’s record volume of auctions and sales provides a clear indication that the remaining seven weeks should provide healthy outcomes for sellers.
On a city wide basis, the time on market results for houses sold at private sale tightened again from 36 days to 33 days over the last week whilst vendor discounting remained stable at -4.8%.
Key data
<ul>
<li>Clearance rate week ending 26 October: 71%</li>
<li>Melbourne auctions expected week ending 2 November: 175</li>
<li>Melbourne private sales time on market week ending 26 October: 33 days (houses)</li>
<li>Melbourne vendor discounting market week ending 26 October: -4.8% (houses)</li>
<li>Listings being prepared for market are 4.7% higher in month ending 26 October (seasonally adjusted)</li>
</ul>
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Melbourne auctions providing growth in transactions: RP Data's weekend preview

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The palatial 15 Wiringa Close, Narre Warren North property offering is back on the market.
The home is scheduled for <a href="https://www.realestate.com.au/property-house-vic-narre+warren+north-118096779" target="_blank">8 November auction</a> through LJ Hooker agent Metin Aziret.
The size of the six bedroom, seven bathroom building is more than 1,200 square metres. 
The owner builder vendor built on the 4,000 square metre block in 2006.
It was for sale briefly in 2009 at $1.69 million, advertised as "a palace of dreams".
This time the marketing hook is 130 squares of opulence.
"Majestic, palatial, gobsmacking, awe-inspiring… these are the adjectives that spring straight to mind when first gazing upon this Narre Warren North piece of architectural wonder," says the agent.
The <a href="https://www.realestate.com.au/property-house-vic-narre+warren+north-116335455" target="_blank">street's highest sale was $1.5 million</a> in June this year.
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The gobsmacking Narre Warren North residential palace

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The industrial leasing market in Melbourne is showing green shoots of a recovery, according to Savills Australia’s Melbourne Industrial Spotlight Quarter 3/2014.
An extra 150,000 square metres were reported as leased over the past 12 months compared to the previous corresponding period.
The report recorded 681,520 square metres of industrial space leased over the past 12 months, with a total of 90 deals, in the year to September 2014.
The 12 months previous came in at 524,606 square metres with 60 deals.
The decade average is 594,221 square metres per annum.
<img src="/images/2014/10/29/sav%20oct%2029%20one.jpg" alt="">
Savills’ Victorian head of research, and author of the report, Glenn Lampard, said that it is not a definitive recovery quite yet, but that they are indicators of a possible market upswing.
“One swallow does not a summer make and neither does two, but leasing and land sales are the best indicators we have of a recovery. These figures are not one month, or one quarter but 12 months and more. While it’s certainly not definitive the figures are nonetheless very encouraging and at the very least suggest a new confidence in the market,’’ Lampard said.
Melbourne’s north-west industrial precinct was the recipient of the majority of leasing activity, responsible for 64% of the result, while the south-east took 35% of the total.
City fringe areas were responsible for less than 1% of the result.
This has Savills Victorian industrial director Greg Jensz note that there has been an upswing of the last 12 months.
“In the previous 12 months (2012/2013) there had been fairly good enquiry but that had not resulted in more than a modest outcome. This year we are seeing those enquiries taken that step further and the results are there including a substantial rise in pre-commitment deals and that’s a very good indicator of confidence returning to the market,” he said.
“On the basis of current enquiry we expect to see the current leasing trend continue throughout the remainder of 2014 as firms gear up for the new year.”
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Melbourne’s industrial market showing green shoots, but yet to spring into recovery: Savills

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The former premises of one of Melbourne’s best known outdoor clothing and camping equipment suppliers, Sam Bear’s, is up for lease for the first time in 80 years.
The 225-229 Russell Street, Melbourne CBD premises has been a popular destination for bargain hunters seeking clothing, work wear and outdoor gear.
The business was so popular it ranked No.40 on TripAdvisor among 60 attractions in Melbourne.
According to Savills Australia’s Victorian retail director, Michael Di Carlo, the business closed 18 months ago.
<img src="/images/2014/10/29/1.jpg" alt="">
 
<img src="/images/2014/10/29/2.jpg" alt="">
The shop has since been subdivided to provide two 93 square metre, fully renovated, tenancies ready for a new retail life.
"This store became a Melbourne icon based on its retail offering and the family nature of the business which endeared itself to customers over several generations. 
"What the store also had was a great location and one which has benefitted more recently from relatively new developments nearby.
"Its position near Chinatown, QV and Lonsdale Street attracts strong pedestrian traffic to the many food and beverage operators in the area and that is where we expect most enquiry to come from, while convenience and general retail will also find this location attractive,’’ Di Carlo said.
He said rents were expected to be circa $200,000 per annum.
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Savills seek tenants for former Sam Bear's Russell Street premises

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St Kilda's iconic Prince of Wales Hotel has been listed for sale.
<a href="https://cbre.realcommercial.com.au/property-hotel+leisure-vic-st+kilda-501285447" target="_blank">It has been listed</a> by the syndicate headed by the van Haandel family, who revitalised the formerly decrepit Prince of Wales Hotel.
John van Haandel, with his brother, Frank, paid $4.3 million in 1995 for the freehold property before Frank later exited his stake.
The classic corner pub comes with frontages to Fitzroy and Acland streets.
It is a four level freehold building providing 5,802 square metres space, along with a multi-storey car park.
There are leases to seven retailers and venue operators. The net income is $2.3 million.
The agents suggest there is immediate development potential with approved plans and permits for four additional levels of residential accommodation with plans done by architects Woods Marsh.
The sale of the freehold could fetch well over $25 million, according to industry sources cited by The Australian.
The site boasts a permit for a 32-storey apartment development on the adjacent carpark. There is also scope to refurbish and extend the heritage-listed venue to encompass more retail, hospitality and residential development. 
The sale is being handled by CBRE agents Mark Wizel, Justin Dowers and Scott Callow with offers due 26 November.
The site, with its various businesses, including Circa restaurant, has been leased to Melbourne Pub Group (MPG) since 2011. Prince Bandroom is one of Melbourne's most prominent live venues, previously hosting acts such as Lenny Kravitz, Jack Johnson, Scissor Sisters, Pink and Coldplay.
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The Prince of Wales, St Kilda listed by van Haandel syndicate

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A three bedroom house in Melbourne's northern suburbs sold for $258,000 at auction this weekend.
<a href="https://www.realestate.com.au/property-house-vic-dallas-118036475" target="_blank">8 Washington Street</a>, Dallas was the most affordable home auctioned in the city this week, according to RP Data.
Sold under instructions from the estate executor by Richard Imbesi of Stockdale and Leggo Glenroy, the house sits on a 580 square metre plot. The land also holds a separate unit and a garden shed.
The home is within walking distance of Upfield railway station.
According to RP Data, the median price for a house in <a href="/news">Dallas</a> was $280,250 in September. The median price reached a peaked of $328,750 for the last 12 months in March.

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Dallas house the cheapest sold at Melbourne weekend auctions

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Despite speculation of a slowdown in 2015, following Melbourne's weekend auction results Wakelin Property Advisory’s Richard Wakelin says that the real question should be whether next year will deliver more of the same growth.
“This is one hungry property market. Faced with a mammoth meal of around 1,700 auctions, buyers tucked into the supply, delivering an impressive 72% auction clearance rate,” said Wakelin.
“I had expected a slight dip – perhaps down to the high 60s – given Melbourne had never seen so many auctions in one day.”
Wakelin said that the weekend’s result will have market participants re-assessing their view of the market in coming months.
“It will likely change the tone of the conversation. No longer is it about whether 2014 will peter out, as this market will motor now until the end of the year, but whether we can expect more of the same in 2015,” he said.
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