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

<html><body>
Melbourne’s spring auction market commenced on high at the weekend with a 79.4% success rate in the initial Australian Property Monitors tally of the initial 715 results.
It was the highest weekend rate reported this year - and the highest since the pre-Grand Final super Saturday of 21 September last year.  
This weekend’s clearance rate was well ahead of 76.6% recorded over the same weekend last year. There was a revised 76.5% result on the last weekend of winter in Melbourne.
The most expensive property reported sold at auction at the weekend was a seven bedroom 1990-built home at 511 Belgrave-Hallam Road, Lysterfield (pictured above) which sold for $3.4 million through Barry Plant. It last sold at $2.5 million in 2004.
The most affordable property reported sold at the weekend was a three bedroom home at 4 Lawson Road, Melton South which was sold for $140,000 through PRD Nationwide Melton. It last trade at $178,000 in 2007.
The inner east reported the most number of sales at the weekend with 99, but also the highest clearance rate with an 89.2% result.
Melbourne's eastern suburbs are tipped as the powerhouse for capital growth during the 2014-15 financial year, according to the upcoming Domain Spring Guide.
Balwyn North's median house price is predicted to surge by close to 10%, the highest for Melbourne, followed by Glen Waverley and Ringwood prices which are expected to jump by 9%.
The outer east weekend clearance rate was 85.2% with 69 reported sales followed by the inner city with 79.3%, the north east 79.2%, the north 77.3% and the inner south with a clearance rate at the weekend of 74.7%.
The Melbourne auction market had been strengthening with the August four weekend average at 77% compared to the previous four weekend result of 73.9%, the Domain Group senior economist Dr Andrew Wilson said.
The most popular suburb for auction listings on the weekend was Glen Waverley in the outer east with 16, followed by Reservoir in the north with 15.
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jchancellor-FAypfDUnLy

East shines as Melbourne auctions start spring with strongest result for a year

<html><body>
AMP Capital has bought the National Australia Bank building in Docklands for $433.5 million.
The Cbus built property, designed by Woods Bagot, at 700 Bourke Street was completed last year.
It is 99% leased to NAB, with an average lease expiry of 13 years. 
There are 4% fixed rental increases which will boost the long-term income yield to 7%.
But the initial yield is 5.75% for the new 63,000-square-metre building.
Colliers International agents John Marasco, Nick Rathgeber, and Leigh Melbourne and Savills agent Ian Hetherington handled the sale.
{qtube vid:=cwF1_nYjzo8}
Photos courtesy of <a href="https://www.woodsbagot.com/project/national-australia-bank-docklands" target="_blank">Woods Bagot</a>.
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AMP Capital buy the Woods Bagot-designed NAB Docklands office

<html><body>
Real estate is often about numbers. Everything it seems, from the price of the house to the weekly rent, can be expressed as a number.
Here are five topical numbers as the market enters spring:
<ul>
<li>25,080</li>
</ul>
This is the number of units in the suburb of <a href="/news">Melbourne</a>. Melbourne has the most individual dwellings of any suburb in the city which will come as little surprise to anyone who has watched the highrise market take off in the last decade.
This is also a very large number in the context of the general density of the city. By way of contrast, the suburb with the most houses is <a href="/news">Reservoir</a> with 13,692 and when you include all the units, the number rises to 20,430, still well short of Melbourne.
<ul>
<li>871</li>
</ul>
With 871 houses sold in the last 12 months <a href="/news">Pakenham </a>has recorded the most house sales of any suburb in Melbourne.  The popularity of housing in the suburb is based on many factors, key amongst them is its relative affordability.  Based on the sales in the last year the median price was $337,500 compared $532,000 for Melbourne.
<ul>
<li>49</li>
</ul>
There are now 49 suburbs in Melbourne that have a median house value of $1 million or more. At nearly one in 10 sales across the city occurring for a sale price in the million dollar range, it is far more common than it used to be.
What has not changed is the most expensive suburb, <a href="/news">Toorak</a>, which had a median value of $2.941 million and saw 151 sales for more than a million dollars over the past year.
<ul>
<li>30</li>
</ul>
The median value of a house in Melbourne has grown by 30.4% over the past five years. Only two capital cities have exceeded that over the same time, Sydney and Darwin.
<ul>
<li>1</li>
</ul>
One is the number of suburbs in the cities west that have a median house value of more than one million dollars. Overlooking the Maribyrnong River and neighbouring the popular <a href="/news">Essendon</a>, <a href="/news">Aberfeldie</a> has a median house value of $1.04 million after a 14% rise in last year.
If you wanted to live there and can afford the price then you will probably need to wait as it is only a small suburb, 1,099 houses, and averages only one sale every 6.5 days.
Weekend auction preview
There are 765 auctions scheduled this week in Melbourne compared to 530 for the same time last year. The highest number of auctions is expected in the <a href="/news">Glen Waverly</a> with 16 scheduled this week.
Buyers are likely to face more vibrant market conditions and higher prices compared to the spring selling season last year.
The August RP Data Core Logic home value indices results released this week shows a rise in dwelling values of 0.8% in Melbourne and 7.6% rise this year.
Due to high levels of supply in the unit market, the majority of the growth occurring in the market is for houses. For houses, the index recorded a rise of 8.3% this year compared to 2.5% for units.
Time on market results for houses sold at private sale rose from 44 days to 47 days over the last week whilst vendor discounting rose from -5.2% to -5.3%.
Key data
<ul>
<li>Clearance rate week ending 31 August: 73.5%</li>
<li>Melbourne auctions expected week ending 7 September: 765</li>
<li>Melbourne private sales time on market week ending 31 August: 47 days (houses)</li>
<li>Melbourne vendor discounting market week ending 31 August: -5.3% (houses)</li>
<li>Listings being prepared for market are -1.3% lower in month ending 31 August (seasonally adjusted)</li>
</ul>
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rlarocca-zWhvjay44N

The five numbers to know about Melbourne: RP Data's weekend auction preview

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The six bedroom Brighton home which accommodated the recent batch of Masterchef contestants on the Channel Ten competition, has been sold.
It was designed at 323 St Kilda Street by Peter Carmichael, and then constructed by Everclear.
<a href="https://www.marshallwhite.com.au/sold/323-st-kilda-street-brighton-7027769/" target="_blank">It was offered through Marshall White agent Michael Paproth</a>.
It comes with home cinema, play room, cellar, swimming pool, spa and gymnasium, security surveillance and garaging for six cars on an allotment measuring some 1,883 square metres.
The beach and the bay are at the end of the street.
It has been listed with $5 million plus expectations.
Fairfax Media speculate that it sold to Chinese buyers.
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Masterchef Australia Brighton home base sold

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The long-time owner of 160-162 Lygon Street, Carlton secured $3.66 million at recent auction, just shy of the strip's all-time record.
The 684 square-metre commercial building came with a six-year lease to long-term tenant, BC’s Bar Centrale at an annual rental of $166,472, reflecting a 4.5% rental yield.
Teska Carson handled the auction for the vendor, the Bussolaro family who had held the ­property for 45 years.
Located on the corner of Argyle Place East, the three-storey building includes a ground floor café and bar, a function room with a commercial kitchen and a caretaker’s unit.
<a href="https://www.realcommercial.com.au/property-retail-vic-carlton-501173731" target="_blank">The 250 square-metre site</a>, zoned Commercial 1, includes an 11-metre frontage to Lygon Street.
In absolute terms, the highest price paid since 2008 was $3.71 million in 2009 for 350 Lygon Street, a two-level corner site measuring 173 square metres, equating to $21,445 per square metre.
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Lygon Street retail sale at $3.66 million

<html><body>
Property Observer has delved into the latest RP Data statistics to find out where Victoria’s million dollar plus suburbs are located, based on median price data.
Here’s the list of suburbs to know (click on the suburb name to go to the suburbs data page):
$2,001,000 and over
<ul>
<li>
<a href="/news">Canterbury</a> - $2,014,000
</li>
<li>
<a href="/news">Toorak</a> - $2,616,000
</li>
</ul>
 
$1,501,000 to $2,000,000
<ul>
<li>
<a href="/news">Balwyn</a> - $1,587,000
</li>
<li>
<a href="/news">Brighton</a> - $1,640,000
</li>
<li>
<a href="/news">Deepdene</a> - $1,855,000
</li>
<li>
<a href="/news">East Melbourne</a> - $1,825,000
</li>
<li>
<a href="/news">Kew</a> - 1,690,000
</li>
<li>
<a href="/news">Malvern</a> - $1,520,000
</li>
<li>
<a href="/news">Middle Park</a> - $1,610,000
</li>
</ul>
 
$1,000,000 to $1,500,000 
<ul>
<li>
<a href="/news">Albert Park</a> - $1,353,000
</li>
<li>
<a href="/news">Alphington</a> - 1,090,000
</li>
<li>
<a href="/news">Armadale </a>- $1,410,000
</li>
<li>
<a href="/news">Ashburton</a> - $1,083,000
</li>
<li>
<a href="/news">Balwyn North</a> - $1,300,000
</li>
<li>
<a href="/news">Beaumaris</a> - 1,130,000
</li>
<li>
<a href="/news">Black Rock</a> - $1,250,000
</li>
<li>
<a href="/news">Brighton East</a> - $1,281,000
</li>
<li>
<a href="/news">Camberwell</a> - $1,400,00
</li>
<li>
<a href="/news">Caulfield</a> - $1,165,000
</li>
<li>
<a href="/news">Caulfield North</a> - $1,326,000
</li>
<li>
<a href="/news">Caulfield South</a> - $1,075,000
</li>
<li>
<a href="/news">Eaglemont</a> - $1,393,000
</li>
<li>
<a href="/news">Elsternwick</a> - $1,323,000
</li>
<li>
<a href="/news">Elwood</a> - $1,200,000
</li>
<li>
<a href="/news">Glen Huntly</a> - $1,000,000
</li>
<li>
<a href="/news">Glen Iris</a> - $1,340,000
</li>
<li>
<a href="/news">Hampton</a> - $1,284,000
</li>
<li>
<a href="/news">Hawthorn East</a> - $1,388,000
</li>
<li>
<a href="/news">Ivanhoe</a> - $1,090,000
</li>
<li>
<a href="/news">Ivanhoe East</a> - $1,323,000
</li>
<li>
<a href="/news">Kew East</a> - $1,308,000
</li>
<li>
<a href="/news">Kooyong</a> - $1,280,000
</li>
<li>
<a href="/news">Malvern East</a> - $1,190,000
</li>
<li>
<a href="/news">Mckinnon</a> - $1,075,000
</li>
<li>
<a href="/news">Mont Albert</a> - $1,428,000
</li>
<li>
<a href="/news">Ormond</a> - $1,040,000
</li>
<li>
<a href="/news">Parkville</a> - $1,348,000
</li>
<li>
<a href="/news">Portsea</a> - $1,170,000
</li>
<li>
<a href="/news">Princes Hill</a> - $1,310,000
</li>
<li>
<a href="/news">Sandringham</a> - $1,220,000
</li>
<li>
<a href="/news">South Yarra</a> - $1,000,000
</li>
<li>
<a href="/news">St Kilda West</a> - $1,113,000
</li>
<li>
<a href="/news">Surrey Hills</a> - $1,351,000
</li>
</ul>
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jduke-EHk3XBmHkn

Victoria’s million dollar suburbs: Did yours make the cut?

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Kristine Lempriere, the Melbourne designer owner of Townmouse Children's Wear, has listed the Malvern home she shares with her husband Will, three boys Max, Tom and Henri, and baby girl, Adelaide.
It is a brick 1880s Victorian period residence with tessellated verandah, the arched entrance hall, glorious sitting room with bay window, refined study and gracious formal dining.
The main bedroom, with designer en suite and built in robes is complemented by a separate wing accommodating three children. It has been their home since they paid $992,000 in 2002.
The 556 square metre holding at 52 McKinley Avenue has been<a href="https://www.realestate.com.au/property-house-vic-malvern-117779711" target="_blank"> listed through Fiona Ansell-Jones and Andrew Hayne at Marshall White for 20 September auction</a>.
Around $2.25 million is tipped.
After Kristine studied fashion at RMIT, Townmouse was launched in 2002.
Last March the couple bought their new house, with Kristine blogging she was relieved that they won't have to house hunt for at least another 20 years. 
{qtube vid:=cNucvv6EQnU}
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Townmouse's Kristine Lempriere lists Malvern charmer

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A derelict 135 year old cottage at 336 Burnley Street in Richmond, in inner city Melbourne, is set to sell for $2 million plus as a development site. 
The property has planning permission for the construction of four townhouses, one of which will have to incorporate the rundown heritage listed cottage.
<a href="https://www.realestate.com.au/property-residential+land-vic-richmond-200964519" target="_blank">Biggin &amp; Scott agent Allan Cove who has the 12 September auction</a>, last sold it in 2012.
The worn-out weatherboard house on a large 779 square metre block fetched $1.621 million at its executors' 2012 auction with five competing developer syndicates taking the bidding beyond its $1.5 million reserve.
It is across the road from the Grand Hotel between Bridge Road and Swan Street with rear frontage to Canterbury Street.
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135 year old Richmond cottage on development site for auction

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Melbourne businessman Sir Rod Eddington has listed his Toorak home of the past eight years. 
More than $11 million is reportedly expected for the <a href="https://www.realestate.com.au/property-house-vic-toorak-117754647" target="_blank">Ledbury Court property</a> which comes with pool and tennis court.
The 2,154 square metre holding was bought by Sir Rod and his wife, Young Sook Park for $7.85 million in 2006 from the Ayre family who'd been there since paying $550,000 in 1980.
 It is for sale through Kay &amp; Burton's Michael Gibson.
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Toorak trophy home offering from Sir Rod Eddington

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Melbourne recorded the greatest quarterly lift in dwelling values of any Australian capital city, according to the August RP Data CoreLogic Hedonic Home Value Index.
Dwelling values in Melbourne were up 6.4% for the quarter to August, ahead of the 5.0% increase recorded in Sydney. However, on a monthly basis, Sydney had the greatest dwelling value increase, with a 1.8% increase recorded last month. Melbourne saw an 0.8% increase in dwelling values over August.
According to RP Data, Melbourne's median dwelling price for August was $523,750.
<img src="/images/2014/09/01/rp-data-sept-1-one.jpg" alt="">
Source: RP Data.
The city's dwelling values are now 6.9% above their previous peak, and 19.5% up from the most recent market trough. Over the past 12 months, Melbourne's homes have increased in value by 11.7%.
The median price of a house in Melbourne now sits at $570,000, while the median unit price is $460,000. House prices increased by 6.6% in the three months to August, with a 12.4% increase recorded by RP Data over the past year.
Unit price growth has been slightly more modest, with a 5.2% quarterly increase in unit values and a 6.2% rise on an annual basis.  
Despite a 10.9% increase in dwelling values across the capitals on a yearly basis, only Melbourne and Sydney the only two capital cities to record double digit price growth. According to RP Data Research director Tim Lawless, Melbourne and Sydney's housing markets are responsible for the "two tier" market conditions.
"Over the latest growth cycle we have seen Sydney dwelling values increase by 27% and Melbourne values up by 19.5%," noted Lawless.
"Sydney and Melbourne were also the strongest performing cities during the 2009/10 growth cycle. Since the beginning of 2009, we have seen values rise by a cumulative 50.1% and 46.1% respectively in Sydney and Melbourne.
"Looking at the remaining state capitals over the same time frame, the next best performer was Perth where values are now 15% higher, followed by Adelaide at 9.9%, Brisbane with 5.3% and Hobart where dwelling values are actually 1.5% lower."
He predicts that home prices are likely to continue to increase in the next quarter.
“Considering the ongoing high rate of auction clearance rates, a generally rapid rate of sale and the ongoing low interest rate environment, it’s likely that dwelling values rise even further over the next three months," said Lawless.
Rental yields are lower in Melbourne than in any other capital city, with houses offering 3.2% yields and units offering 4.2%.
Lawless notes that Sydney's gross rental yields have fallen to 3.6%.
"In Melbourne, where rental yields are even lower, we have seen gross yields fall by 32 basis points over the year to reach 3.2% gross," he said.
"With yields so low in the cities where values are seeing the largest capital gains, it is clear that investors remain very much focussed on value growth rather than yield.”
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