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>
New development Vivre, a one- and two bedroom apartment complex in Essendon, has seen significant investor attention and expects owner occupiers to follow suit.
<a href="https://www.vivreessendon.com/" target="_blank">Essendon’s Vivre</a>, at 64-66 Keilor Road, from Monson Property Group, has the unusual twist of seeing 90% of the 67 apartments with something called ‘flexible’ floor plans.
Essentially, this means that buyers can re-position a moveable wall to change the size or shape of their living areas – to make a second bedroom, a study or a larger living area, for example.
Architect ClarkeHopkinsClarke has become the mastermind by the flexi-apartment concept that has seen 40% of apartments securing registrations of interest, with 25 apartments reserved, after an expressions of interest campaign was launched on Thursday.
One-bedroom properties range from $375,000 upwards, for 50 square metres. Flexi-one bedroom apartments from 50 to 55 square metres command prices from $399,000 upwards. Meanwhile, two-bedroom apartments from 57 to 72 square metres start from $480,000. Two-bedroom apartments with a study are sized from 74 square metres, at $550,000 plus. The most expensive apartment is a two-bedroom apartment with a study for $575,000.
Each includes access to a lift, and a basement car park.
Currently, <a href="/news">Essendon</a> is commanding a median unit price of $435,000, with median weekly advertised rent at $310 per week, according to RP Data.
Riveren’s Sophon En, the marketing agent for the development, said that this is a leg-up for first home buyers as the flexible floorplans allow investors to buy a one-bedroom and turn it into a two-bedroom for a greater return.
“Essendon as a suburb has strong growth potential, with recent figures showing an average median price growth of 24% for houses and apartments over the last five years.  It is a desirable place to live and ticks the boxes for infrastructure and great access to local facilities, restaurants and other amenities,” said En.
En expects that Essendon will take off with the government’s focus on the area as a growth zone.
Meanwhile, Monson Property Group’s director, Simon Mehegan, said that the name Vivre, French for ‘live’, was in reference to the flexible floor plan concept of the apartments; being somewhere to live, have living space and the capability of adapting the property to suit your lifestyle.
“It’s become common for people to buy two apartments and merge them into one for more space but this is expensive. We’re turning this concept on its head and making added space affordable,” he said.
Apartments include stone bench tops, chrome fittings, timber floorboards, stainless steel appliances and mirrored splashbacks, with similar chrome features in the tiled bathrooms.
The display suite is set to open in early May 2014, with construction to start in September 2014. March 2016 is the current date set for completion.
</body></html>

jduke-EHk3XBmHkn

Investor interest surges for new Essendon apartment development, Vivre

<html><body>
GUEST OBSERVATION
If you’ve been following the news this week, you would have seen all the commotion about the latest housing price data to hit the market. Speculation of a housing bubble reached new heights with RP Data’s March figures revealing the <a href="/expert-insights/investing/melbourne-tops-the-list-of-best-performing-capital-cities-in-march-quarter-rp-data-rismark">biggest monthly gain in 18 years</a>.
Melbourne led the surge, recording the strongest growth out of all the capital cities (5.4% for the first quarter of this year). As a buyer, it can be easy to get swept up in the media headlines. Naturally, concerns about housing affordability and whether buying now is a good idea come to the forefront. But before we hit the panic button, let’s take a closer look at what this really means for buyers.
Let’s put things in perspective
Just like any situation, it’s all about putting things into perspective.
Yes, March saw some significant gains – but let’s not forget the gains are off the back of a lull in 2011 and 2012 when we saw the first major correction to the market since the ’90s. 2013 was a year of consolidation, so the latest data actually represents a recovery or upswing from lower than normal levels of activity.
We need to tune out the white noise and fears of a property bubble and keep in mind that the long-term fundamentals of the market are still strong. Our population is booming (expected to reach 40 million by 2060), interest rates are at a record low and with the mining boom over, the construction industry is tipped to be the next economic driver – spurred by an undersupply of new housing nationwide.
Adjust your expectations
If you’re a first home buyer, this piece of advice will be most relevant for you as affordability is likely to be your biggest barrier. Remember that property is a cyclical asset and should be always viewed as a long term investment.
The first home you buy is not going to be the house you live in for the rest of your life. Buy in an area where you can afford to get your foot in the door. Once you’ve done this, you can put plans in place to reap a return on your investment and use it as a stepping stone for your next purchase. 
Buying where you can afford will allow you to pay down your debt and when you’re ready, sell that first home and use the tax free profit to buy your next home. If necessary, repeat this process until you are in a position to purchase the home that you want to live in for the next 20 years. 
The other option to consider is buying an investment property that’s likely to reap strong capital growth and renting in an area you want to live in, and using the rental income from your investment property to help pay down the mortgage.
The housing market is made up of several sub-markets
This is probably one of the most important things to remember about the housing market. To an extent, we need to take the March data for what it really is; a short-term growth spurt. Don’t get caught up in the media hype.
While the data is good for providing a pulse on the market as a whole, it doesn’t provide a more holistic perspective on the various sub-markets that exist within the entire real estate market.
Each suburb is unique and has its own laws of supply and demand at play. For example, there’s still a lot of opportunity to purchase affordable housing in suburbs within 8 kilometres from the capital cities, or areas that have not yet seen huge price spikes.
In Melbourne, there are suburbs such as <a href="/news">Footscray</a> where the median unit price is $385,000 (nearly $100,000 less than the statewide median of $481,000) and <a href="/news">Essendon</a> where a number of new housing developments are driving the area’s growth potential and offering first home buyers affordable homes. 
As a buyer, you need to ensure you do your research on the area you’re looking to buy in before taking the plunge – there’s a wealth of resources online such as RP Data and propertyDATA.com.au.
Speak to the experts
Finally, if you really are serious about getting into the property market and want to do it right from the get-go, then getting advice from the people who do it on a daily basis is a great start.
Property advisory firms are a great source of advice for the housing market - similar to a financial planner for the share market. Property advisors can talk through the nuances of the sub-markets and help you understand the micro and macro trends influencing house prices and their direction. They can also take the emotion out of buying and save the time you would have had to otherwise invest into researching your purchase.
Most of all, they can save you money by presenting the best valued properties - whether you’re an investor looking to enhance returns on your property portfolio or a first home buyer trying to get a foot on the property ladder.
Sophorn En is managing director of <a href="https://www.riveren.com.au/" target="_blank">Riveren Property</a>, a specialist investment group offering a broad range of property investment and advisory services to assist clients build their long-term wealth through astute property investment.
</body></html>

jake-cSmGT7VXVf

House prices surge, but buyers don’t panic: There’s a light at the end of the tunnel

<html><body>
2014 is still motoring along very strongly. The lull we reported of the last few weeks seems to have been nothing more than another stair landing in the continuously rising price-staircase which began in October 2012.
This weekend was another Super Saturday, with over 150 auctions in Melbourne’s inner east and Bayside. It was a very solid test, in that bidders were spread out over a large number of auctions – i.e. there was significant choice. The bidder depth held up, in fact it increased marginally with over two bidders per auction on average – this is strong.
If you look at the roughly 200 $1 million plus auctions that took place across all of Melbourne, an average of two bidders means that not only were there 200 buyers, there were also 200 bidders who missed out. Most of those “wounded” bidders are not discretionary buyers – they have to buy and next time they will be more aggressive on price, even if only a tad.
<blockquote>
For a number of our Chinese clients, one of the reasons we are engaged is that they are concerned what other Chinese buyers may do and they don’t want to miss out.
</blockquote>
However, after next week it gets very tight for new stock going into the school holidays and Easter. So the pool of choice will diminish. That means many of those 200 “wounded underbidders” may well be competing against you over Easter but on lower stock levels. That means we’re likely to see 200 underbidders competing not on 200 homes, but on, say, 100 good homes which would double the bidders. If that number is spread out over 50 good homes, that will be four times the bidder strength we saw this weekend.
So what to do as a buyer? Maybe it’s time to wait until the steam goes out of the market?
For those buyers still waiting on the edge for a downturn – good luck. I’m not sure that is a proven good strategy.
But surely it can’t last forever!
Why has our market been so good for so long and will it last?
The Chinese community – simple demand and supply
The reason our market has been so good for so long is very simple – the overseas Chinese community.
Here are the top 10 reported sales on Saturday.
The Top 10 reported on Saturday
<ul>
<li>14 Selwyn Av, ELWOOD – Above $3,600,000</li>
<li>
21 Monash Av, BALWYN – $3,520,000</li>
<li>17 Rolls Ct, GLEN WAVERLEY – $3,416,000</li>
<li>
65 Metung St, BALWYN Above $3,200,000</li>
<li>30 Wills St, KEW Above $3,000,000</li>
<li>4 Mt Ida Av, HAWTHORN EAST  $3,235,500</li>
<li>69 Alfred Cr, FITZROY NORTH  $3,140,000</li>
<li>
2 Barnsbury Rd, BALWYN Above $3,000,000</li>
<li>9 Fairfield Av, CAMBERWELL  $2,888,000</li>
<li>
65 Yarrbat Av, BALWYN $2,850,000</li>
</ul>
40% of those sales were in <a href="/news">Balwyn</a> for new homes or land blocks to build new homes. Where is <a href="/news">Brighton</a>, where is <a href="/news">Toorak</a>? <a href="/news">North Balwyn</a> and Balwyn reported 13 bought from a reported 15 auctions. Brighton had 9 bought from 16 and Toorak and <a href="/news">South Yarra</a> just 7 from 12.
So how long will it last?
This is my potted history of Chinese involvement in Melbourne’s property market.
1973: I went to Camberwell Grammar in the early 1970s (I’m not sure they want me to advertise that fact – it could be bad for new enrolments). Camberwell Grammar is in Balwyn and a number of my classmates at that time were Chinese.
1983: Chinese start buying into Doncaster and Box Hill, which were then more affordable suburbs. I grew up in Doncaster.
1993: After economic reforms start having an impact in China, wealthy overseas Chinese start buying into premium Melbourne suburbs such as Balwyn and <a href="/news">Canterbury</a>. Why? Private schools. Chinese people want to give their children the best education (see 1973) and now a few could also afford to buy a home near the schools of their choice such as Carey, MLC, Scotch and Camberwell Grammar. But it was still difficult under Australian buying laws for overseas people.
2000: With restrictions on what Chinese people could buy and Chinese wealth increasing, off the plan properties became popular for many Chinese buyers. There were very few restrictions on Chinese people buying new properties and Chinese people were used to buying new apartments. High rises went up left, right and centre in Melbourne, many on the back of Chinese money.
2005: Chinese wealth had increased dramatically over the last two decades and as Chinese buyers became wealthier they also became more sophisticated in their knowledge about Melbourne properties and Toorak became a place where land banking became popular. It still is today.
2009: Australian government changes the laws making buying “second-hand” family homes in Australia a lot easier for Chinese people. This one decision really brought the inner Melbourne property market out of the GFC a lot quicker than other countries.
2013: By this time, every one of the bigger buying or selling real estate agencies, ourselves included, has at least one Mandarin-speaking staff member.
2014 : At this weekend’s Super Saturday, 40% of our Top 10 $3m+ sales were in Balwyn, rather than Toorak or Brighton.
So in my 55 year history I have seen this equation of simple demand (increasing Chinese buyers) versus supply (no new land in inner Melbourne) push prices up and up and up. I cannot see anything changing anytime soon. So waiting for the market to turn in 1970, 1980, 1990, 2000 and 2010 hasn’t in my mind proven to be a winning strategy. If you see the right home for you (emotionally, physically and financially) then you should buy it now.
You may be interested to know that for a number of our Chinese clients, one of the reasons we are engaged is that they are concerned what other Chinese buyers may do and they don’t want to miss out.
Auctions in Bayside see around half  the number of people attending as in Boroondara. A good auction in Brighton has 40 people while in Kew it would be 80. The Chinese community is nowhere near as well established in Bayside as it is in Boroondara.
Why not? There are some great private schools in Bayside! St Leonards, Haileybury, Caulfield Grammar.
Its a historical thing. But you can see more and more Chinese people considering say other areas such as Brighton when:
<ul>
<li>Chinese people become more comfortable with Bayside as a place to live, and</li>
<li>Demand in Boroondara and then Stonnington forces some Chinese people to consider other options.</li>
</ul>
Over time the Chinese community demand and supply equation will have the same effect in Bayside as it has had in Boroondara, unless China’s wealth begins to diminish.
</body></html>

maljames-vHwm28JUAa

Chinese buyers in Melbourne: A simple case of supply and demand

<html><body>
The number of unique residential properties advertised for sale across the country over the four weeks to 30 March 2014 was recorded at 243,941. 
This figure consists of 47,805 newly listed properties over the four weeks and 196,136 re-listed properties.
As highlighted by the <a href="https://blog.rpdata.com/2014/02/homes-prepared-sale-real-estate-agent-activity-gathers-pace-2014/" target="_blank">RP Data listings index</a>, there has been a surge in the number of new properties listed for sale and they are 18.9% higher than they were at the same time a year ago. Although new listings have surged, total properties advertised for sale are -3.8% lower than they were a year ago which is reflective of the rapid rate of sale we are seeing nationally. Although new listings are way up on a year ago, the rate of sale is much faster and total listings are falling. 
To put it simply, properties are being absorbed by the market faster than they are being listed for sale.
<img class="aligncenter size-full wp-image-3065" src="https://blog.rpdata.com/wp-content/uploads/2014/03/Chart-12.jpg" alt="Chart 1" width="500" height="180">
Looking at the different residential property types; new listings for houses are 20.2% higher than they were a year ago however, total house listings are -4.5% lower.
New unit listings are also significantly higher, up 22.6% while total unit listings are -5.1% lower.  New vacant land listings are -5.4% lower than they were a year ago however, total listings are 2.1% higher.
<img class="aligncenter size-full wp-image-3063" src="https://blog.rpdata.com/wp-content/uploads/2014/03/Chart-21.jpg" alt="Chart 2" width="444" height="262">
Looking across the individual capital cities, each region except for Canberra (-12.0%) is recording a higher number of new properties listed for sale than they were a year ago. 
Sydney and Melbourne, which are also recording the strongest capital growth conditions, have recorded the largest rise in new listings over the year, up 49.7% and 32.0% respectively compared with a year ago.  Clearly new properties are coming to the market in both cities however, evidence suggests that most are selling quite shortly after the listing.
Although new capital city property listings are generally higher than they were a year ago, total listings are generally much lower than they were a year ago. Across the combined capital cities total listings are -8.3% lower than they were a year ago and each city except Hobart (3.3%) and Darwin (25.2%) is recording fewer total listings.  
Although both Sydney and Melbourne are each recording fewer total properties advertised for sale than a year ago, it is interesting to note that total listings in Melbourne (33,144) are significantly higher than in Sydney (22,423).
It is encouraging to see that a greater number of new residential properties are coming to the market than at the same time last year however, it is important to remember that in most regions sales transactions are much higher than they were a year ago. 
Clearly buyer demand has escalated and quality properties are not staying on the market for a long period of time which is highlighted by the fact that total listings both at a national and capital city level are lower than they were a year ago.
</body></html>

Melbourne

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Melbourne

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News