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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Melbourne’s mega Super Saturday passed with a clearance rate of 73%, on the busiest of auction weekends sandwiched between the AFL Grand Final and Derby Day races.
This weekend's success rate compared to 72% last weekend and 73% on the same weekend last year.
There were 1471 auctions reported to the REIV today, with 1075 selling and 396 being passed in, 188 of those on a vendor bid.
The Saturday sales total came in at $933 million. Houses scored better than apartments with 75% to 69%.
The REIV had been expecting about 1,750 auctions across 307 suburbs today and tomorrow, so almost 300 results are yet to be included. There are some 60 auctions scheduled across Victoria on Sunday.
The top auction locations were Richmond (27 auctions), Hawthorn (26 auctions) and Glen Iris (25 auctions).
The REIV reported just the eight Richmond results with five sales topped by a <a href="/expert-insights/buying/melbournes-biggest-ever-weekend-auction-volume-with-an-underbelly-warehouse-thrown-in">$1,477,500 Brighton Street townhouse sale</a>.
The REIV said the last record weekend was 1,517 on the 15 December 2013 weekend.
Some 122 auctions are scheduled next weekend.
After today’s record number of auctions, there have been more than 31,000 Melbourne auctions held so far this year with more than a third of all homes being sold by auction, the REIV chief Enzo Raimondo said.
The suburb with the highest number of auctions so far this year has been Reservoir, with just over 500 auctions held.
The weekend's top sale was when 45 The Strand, Williamstown fetched $3,876,000, according to the REIV, although Property Observer is aware of the $4.45 million sale of 22 Victoria Road, Camberwell where there were three bidders at the Jellis Craig auction. Tavistock, the Henry Kemp-designed 1900 home came on the market at $4 million.
There was also the pre-auction sale of <a href="https://www.realestateview.com.au/Real-Estate/797-orrong-road-toorak/Property-Details-buy-residential-7694388" target="_blank">797 Orrong Road, Toorak</a> which had been listed with $4.5 million plus hopes through Marshall White agents Marcus Chiminello and Nicole French.
But the offering at 22 Walmer Street, Kew was passed in at $5.4 million with no bidders for Selbourne. Ditto 38 Chrystobel Crescent, Hawthorn which James Buyer Advocates reported was passed in at $4.1 with no bidders after two vendor bids.
At Armadale <a href="https://www.realestateview.com.au/Real-Estate/3-myamyn-street-armadale/Property-Details-buy-residential-7694896" target="_blank" style="line-height: 1.3em;">3 Myamyn Street</a> (pictured above) was passed in at a $4.3 million vendor bid, having been listed with reported $4.3 million plus hopes through Marshall White. 
The 1880s trophy home was renovated by architect Nicholas Murray in 2011 utilising its 662 square metre block behind its neo-Gothic facade. There is now $4,975,000 price guidance.
With 1197 results, APM reported a 75.4% Melbourne result which was up on last weekend and last year. 
 
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Steady sales gallop secures 73% success rate on record Melbourne auction weekend: REIV

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Melbourne’s property market has yet to peak with strong momentum to keep pushing property prices higher, according to director of Wakelin Property Advisory, Paul Nugent.
While robust auction clearance rates and price growth are expected to continue, supply remains the most important factor when looking at the market’s current strength.
“To date, the growth in supply over 2014 has been steady but not sufficient to outweigh strong demand,” Nugent said.
“But there is always the possibility of a surge in supply in November and early December, as can happen in Melbourne. Often, agents, seeking to avoid the sporting events of early spring, back-fill the calendar with auctions. We’re getting a taster of this phenomenon this weekend, when 1,800 auctions have been scheduled the week before the Flemington Racing Carnival kicks off.”
He noted that if auction clearance rates do weaken, it’s worth considering whether it is a result of strong supply, rather than weak demand.
“The momentum in the market is strong, which may upset those looking for an instant slump in response to recent commentary from the Reserve Bank about the sustainability of house prices,” he said.
“Whilst some may wish for the market to immediately bend to this narrative, the power of Reserve Bank jawboning has been overstated … Its impact at best is short-lived and, each time it occurs, diminishing.  Jawboning may give pause for thought, but after a while it comes to sound like Cry Wolf. Participants in the property market will continue to buy and sell property.”
Nugent noted that the current clearance rate has seen 70% to 75% of auctions remaining successful for over a year.
“That is an extraordinary run when a clearance rate in the 60% has historically represented a balanced, healthy market. So I’m bemused by comments we hear when the clearance rate dips into the low 70% or high 60% that the market is struggling. People with short memories should stop treating a 70% plus clearance rate as the new normal,” he said.
The challenge coming for the market will be an upswing in interest rates.
“The property market will respond to actions, not words. It may only take a relatively modest increase – say 0.5% to 0.75% – to shut off price growth for six to 12 months, but it will be a tangible policy action rather than a threat of one that will deliver that outcome.”
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Melbourne market yet to reach tipping point: Wakelin Property Advisory

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There are four suburbs in Melbourne, in the inner west and inner north, that represented the best investment value for those looking to take advantage of the market in 2008/2009, according to the Annual Recommended Suburbs Survey from Nyko Property.
Investors who purchased in these suburbs during those years saw substantial growth.
The four suburbs picked by Nyko Property were:
<ol>
<li>
<a href="/news">Footscray</a> 
</li>
<li>
<a href="/news">Maidstone</a> 
</li>
<li>
<a href="/news">Thornbury</a> 
</li>
<li><a href="/news">Preston</a></li>
</ol>
All located within 10 kilometres of the CBD. Footscray and Maidstone are in the inner west, while the final two are in the inner north. In 2008/09, each had a median unit price of less than $400,000.
Nyko Property director Bill Nikolouzakis said that their prices and location made them undervalued 'hotspots' which had achieved strong results for those who purchased in.
“Their price and location gave these key suburbs substantial upside; we identified that they were poised for growth, even in a flat and falling market,” he said.
“Although Footscray and Thornbury had a lower socio-economic demographic, our research suggested their proximity to the CBD and the high performance of the neighbouring suburbs would ensure their gentrification,” said Nikolouzakis.
Those who bought in Thornbury saw the suburb outperform the Melbourne market by over 100% during that period.
“Our survey takes into account the demographics of the suburb as well as the new demographic entering the area through gentrification and selected projects that we felt most suited that change,” he said.
His tip to identifying these hot areas? Plan Melbourne – the document that identifies locations likely to see strong employment and population growth.
“The State government has pinpointed suburbs, and even key areas within those suburbs, in which they anticipate growth and therefore have committed extra funds for improvement of infrastructure and amenities,” he said.
“An in-depth knowledge of the local areas and the micro-economic factors affecting them are the keys to selecting high growth locations.”
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The four suburbs in Melbourne you missed the boat on: Nyko Property

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The historic Corkman Irish Pub in Melbourne hip inner area of Carlton is for sale with interest north of $3 million.
Formerly known as the Carlton Inn, the pub is at 154 Leicester Street, which is near buzzing Lygon Street and surrounded by Melbourne University campuses and students digs.
The buyers have the potential to take control of the business when the current lease expires in six months or consider development potential.
The Corkman is a two level hotel on 450 square metres of land that is zoned mixed use. The holding income is about  $82,000 a year, sitting on 450sqm of land, with a mixed-use zoning.
CBRE Hotels agents Scott Callow, Mark Wizel and Joseph Du Rieu are exclusive agents for the pub, which will be auctioned on October 30.
The agents are anticipating interest from local, national and international buyers, given the lucrative nature of Carlton real estate.
According to figure held by RP Data, the pub has been with the same owner since it last traded in 1987 for $900,000.
It will be offered as a freehold site, subject to a six-month lease - with the ability for vacant possession in the short term.
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Corkman Irish Pub, Carlton for sale

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Melbourne’s least expensive house to sell at auction on the weekend traded for $256,000 in Werribee, southwest of the CBD.
The three-bedroom 1970s house has a central bathroom and separate living room and kitchen and is on a 571 square metre block. The 4 Carbon Court property sold through Hocking Stuart Werribee, according to Australian Property Monitors. 
Marketed as a renovators dream, it may also have potential as a knock-down to build another house or units, subject to council approval.
According to RP Data the rent for the area is $276 a week and based on this figure an investor could expect a yield of 5.6%. Growth in the area is at 3.3%. The median price for the suburb was $314,500 in September.
The only other recent sale in Carbon Close was number 8, which exchanged last year for $295,000.
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Werribee $256,000 sale Melbourne weekend's cheapest result

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While Melbourne’s median house price was recording as stabilising in the quarter to the end of September, it seems that a number of suburbs, including those in the middle ring, are outperforming, according to the Real Estate Institute of Victoria (REIV).
In the previous quarter, the median price for Melbourne grew 2.1%, and auction numbers increased, however a moderating effect is now being seen, explains REIV chief executive office Enzo Raimondo.
The median house price was recorded as $649,000, with the median unit price up 1.2% over the period to $503,000.
"But price growth was variable across the city, according to buyer demand," Raimondo says.
“A number of suburbs saw significant increases, especially Melbourne’s middle suburbs.”
These suburbs included:
Coburg – up 16.7%, potentially due to buyers being priced out of nearby Fitzroy North, Northcote and Thornbury
Balwyn – up 16.3%, potentially on the back of its access to desirable schools
Mount Waverley – up 12.5%
Doncaster – up 11.9%
Noble Park – up 14.3%
South Morang – up 11.7%
Box Hill North – up 10.9%
Seaford – up 10.6%
Wantirna South – up 10.3%
Forest Hill – up 9.4%
Craigieburn – up 9.4%
"As buyers have been priced out of the higher priced suburbs, they have looked for more affordable options further out, but with infrastructure such as schools and shopping,” Raimondo says.
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The 11 suburbs outperforming in Melbourne: REIV

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Victoria’s most pricey property to sell at auction on the weekend was a house in Toorak for $3.525 million.
The stylish three-bedroom house at <a href="https://www.realestate.com.au/property-house-vic-toorak-117970939" target="_blank">14 Glen Road</a> is on a 888 square metre block near the Kooyong Tennis Club. Local agent RT Edgar Toorak handled the sale, according to Australian Property Monitors.
About 100 people attended the ­auction where there was a single bid of $3.2 million. Subsequent negotiations took the sale price higher, said RT Edgar’s Jeremy Fox. 
The modern renovated house is built around a central courtyard and last sold in 2003 for $2.15 million.
The median house price for the area dipped in September with RP Data pegging the median at $2.4 million. In September 2013 the median price was $2.667 million. 
According to RP Data, growth among house prices in Toorak is at 4.2%. In April 2012 the Glen Road house had been available to be rented for $1,390 a week.
One recent sale nearby was 7 Glen Road, which exchanged for $4.15 million<a name="_GoBack" style="line-height: 1.3em;" href=""></a> while 23 Glen Road traded last year for $3.9 million.
The Melbourne weekend home auction market lifted at the weekend following two weekends of falling clearance rates, according to APM.
Melbourne reported a 76.4 percent clearance rate compared to the previous weekends 73.8 percent - the lowest result so far this spring.
Although Melbourne reported an improved result this weekend, the underlying trend has fallen recently, APM senior economist Dr Andrew Wilson said.
"Current clearance rates however continue to reflect solid local market conditions with competition amongst buyers for property encouraging for sellers," he said.
Some 1005 homes were listed for auction at the weekend, well ahead of the previous weekends 903 and also up on the 938 auctioned over the same weekend last year.
Over 1500 auctions are scheduled in the metro area in the usual pre-Melbourne Cup long weekend holiday Super Saturday of auctions.
Melbourne’s eastern suburbs continue to dominate auction results again reporting the highest regional clearance rates at the weekend.
The outer east led again with a clearance rate of 88.3 percent with 83 sales from 94 auctions.  
 
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Toorak tops weekend sales: APM

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There are 1,043 auctions scheduled this week in Melbourne compared to 1,124 for the same time last year.
The highest volume of auctions is in St Kilda with 23 expected, followed by Reservoir with 22 and Kew with 19.
In the auction market the increased volume has shifted the market in favour of buyers with a lower clearance rate resulting from the almost 2,000 auctions held over the past fortnight.
In the private sale market however sellers are seeing a peak in demand with lower days on market and reduced discounting prevalent.
On a city wide basis, the time on market results for houses sold at private sale tightened from 40 days to 37 days over the last week whilst vendor discounting fell from -5.1% to -4.9%.
Key data
•       Clearance rate week ending 12 October: 70%
•       Melbourne auctions expected week ending 19 October: 1,043
•       Melbourne private sales time on market week ending 12 October: 37 days (houses)
•       Melbourne vendor discounting market week ending 12 October: -4.9% (houses)
•       Listings being prepared for market are 4.3 per cent higher in month ending 12 October (seasonally adjusted)
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Melbourne market shifting in favour of buyers: RP Data's weekend auction preview

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At 6.00 pm on Saturday 11 October , the James Clearance Rate for Melbourne's $1 million plus property was 66% on the 32 auctions we covered.
Our overall summary of Melbourne's million dollar-plus auctions:
<ul>
<li>Ducks (auctions with no bidders): 18%</li>
<li>Lone Rangers (auctions with one bidder): 18%</li>
<li>Norms (auctions with two or three bidders): 36%</li>
<li>Volcanoes (four or more bidders at auction): 28%</li>
</ul>
Biggest auctions:
<ul>
<li>Camberwell, 73 Bowen Street (Paul Richards, Bekdon Richards), under hammer, $3,600,000, 6 bidders. <img src="/images/2014/10/16/Bowen-597x399.jpg" alt=""> Auction of the day: a huge crowd of more than 100 people at the auction of 73 Bowen Street. 
</li>
<li>Hawthorn, 74 Robinson Road (Scott Patterson, Kay &amp; Burton), under hammer, $2,820,000, 4 bidders, pictured below. <img src="/images/2014/10/16/hawthorn.jpg" alt=""> 
</li>
<li>Albert Park, 382 Montague Street (Kaine Lanyon, Marshall White), under hammer, $2,750,000, 3 bidders, pictured below. <img src="/images/2014/10/16/albertpark.jpg" alt=""> 382 Montague Street auction shown in main picture.
</li>
</ul>
Bidder buzz:
<ul>
<li>Malvern East, 28 Darling Road (Daniel Wheeler, Marshall White), under hammer, $1,391,000, 6 bidders</li>
<li>Glen Iris, 19 Ashburton Road (Andrew Gibbons, Marshall White), under hammer, $1,910,000, 5 bidders</li>
<li>Camberwell, 20 Killarra Avenue (Damien Davis, Jellis Craig), under hammer, $1,660,000, 5 bidders</li>
</ul>
Biggest Pass Ins:
<ul>
<li>East Melbourne, 81 Wellington Parade, passed in, $4,000,000, no bidders</li>
<li>Balwyn North, 48 Tuxen Street, passed in, $3,750,000, no bidders</li>
<li>Balwyn, 1 Monash Avenue, passed in, $2,775,000, 2 bidders</li>
</ul>
 This article continues on the next page. To read Mal James' market summary, click below. 
<hr class="system-pagebreak">
 
The post Grand Final market summary trifecta
<ol>
<li>
DEMAND It feels like there should be strong interest prior to the Melbourne Cup for good homes. We have a number of auctions we are bidding on in the next fortnight (but still some vacancies). Open for Inspections for good homes have been crowded and prior to the Grand Final, we have been consistently recording over 2.2 bidders per auction.</li>
<li>
VENDOR PRICING Many agents on the selling side are moaning about some vendors opinions on price. We have no issue with that – it's their home – it's a free country – but they are not selling. While we have bought four in the last week: <ul>
<li>A Toorak off-market apartment (Marcus Chiminello)</li>
<li>A Malvern East off-market home (John Manton)</li>
<li>A Brighton family home at auction (Regina Schmidt)</li>
<li>A South Melbourne apartment at auction (Gary Omrod)</li>
</ul>
We have also walked away from several negotiations where we have offered good money and got a reply we couldn't go near. I went through two on Saturday and walked straight out when told the price. I admire courage but a few sellers right now are into "hero" territory on asking price. <img src="/images/2014/10/16/Oct25-Super-Saturday-597x448.jpg" alt=""> Next Week is a Super Saturday and the week after, 25 October, is always expected to be a big one, but is now actually a huge one – as my feeble graph above attempts to show. 
</li>
<li>
SUPPLY Let's be happy as we are at the highest levels of good quality stock across all price levels, in almost all market segments since May 2010. And the quality spread is very good – I've been to a number of absolutely brilliantly built/renovated homes. Here are three I have rated but are currently not acting for a buying client on:
<ul>
<li>11 Malin St Kew (Greg Toogood). James Rating: 783/1000</li>
<li>3 Myamyn Avenue Armadale (Peter Bennison). James Rating: 801/1000</li>
<li>A $10m+ old classic in East Melbourne (Jeremy Fox). James Rating 800/1000</li>
</ul>
</li>
</ol>
It's a little tighter by the Bay for the classics but there is plenty out there. So if you can't find something to tickle your fancy now, then you may have to revisit your fancy or your tickle – there is a lot of good property for sale right now.
 Mal writes weekly auction reports, advice and in-depth market analysis on his <a href="https://www.jamesbuyeradvocates.com.au/" target="_blank">website</a>.
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Melbourne's upmarket auction update: Plenty of good stock on offer

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The priciest residential property to sell in Melbourne during the weekend was a house in Camberwell, 10 km from the CBD, sold for $3.6 million.
The glamorous five-bedroom, four-bathroom house on 743 square metres at 73 Bowen Street was sold through Bekdon Richards, according to Australian Property Monitors.
In May 2013, the then red brick knock down that was built in 1925 sold for $1.395 million.
About 200 people attended an ­auction to watch some 50 bids made by six ­competing buyers.
The two-storey house features a swimming pool.
James Buyer Advocates reported the auction bidding opened at $2,850,000 then at $3,350,000 and the bid is referred, followed by the announcement the property was on the market. 
The buyer's agency described it as a "really strong result given the street is a B-grader and the land itself was bought in March last year for $1,393,000." 
According to RP Data, the median house price for Camberwell was $1.71 million in August this year. In August 2013 the median price was $1.36 million. 
The last record for the road was set at 84 Bowen Street, which sold earlier this year for $1.775 million.
RP Data reports that Camberwell experience capital growth of 6.6% in 2013.
Melbourne’s weekend home auction market tracked backwards for the second weekend in row as signs emerge of a waning in buyer activity.
Melbourne recorded a weekend clearance rate of 73.8%, which according to APM was the lowest result reported for two months. This weekend’s result followed last weekend’s 75.8% with a falling trend now developing.
APM senior economist Dr Andrew Wilson suggested high auction numbers may be a factor in declining clearance rates with metro Melbourne this weekend hosting 903 auctions - well up on last weekend’s 740 and ahead of the 874 listed over the same weekend last year.
The Melbourne spring market will peak over the pre-Melbourne Cup weekend with an all-time record of over 1500 Saturday auctions due to be conducted in the metro area. 
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