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<p>A 60-apartment building nine storeys tall would be a rarity almost anywhere along this stretch of Moreton Bay, but that's exactly what's been lodged for a modest Deception Bay street better known for its single-storey weatherboard homes.</p>

<p><a href="https://www.apartments.com.au/developers/sherlock-construction-homes">Sherlock Construction Homes</a> is seeking to push Deception Bay’s emerging medium-density housing profile higher, lodging plans for a nine-storey apartment building near the suburb’s shopping centre and foreshore.</p>

<p>Dubbed Grosvenor Apartments, the proposal at 14-20 Grosvenor Terrace would replace two detached homes with a new building designed by&nbsp;<a href="https://www.apartments.com.au/architects/mode">Mode Design</a>&nbsp;which would&nbsp;reach nearly 30 metres, well above the site’s mapped 21-metre building height.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="86c21a25-5a97-4ca7-a361-80757137ea5b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20da%20front.png?VersionId=aXIujfvEhH33sLHOEjHFv9Ii6qxSvAF4" /></p>

<p>The apartment mix is weighted toward larger homes, with 14 three-bedroom apartments, 31 two-bedroom apartments and 15 one-bedroom apartments. Six apartment types are spread across the floors, ranging from 66 sqm one-bedroom units through to three-bedroom apartments of 116 sqm, most with private balconies or terraces.</p>

<p>Levels one through seven follow a consistent layout of six to eight apartments per floor arranged around a central lift and stair core, with the top floor, level eight, trading one apartment for a landscaped community breakout space rather than repeating the standard layout below.</p>

<p>Ground floor is dedicated to arrival and services, with a lobby, mailroom and manager's office, alongside 91 car spaces.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="b098bde0-5fe1-4e6c-9601-e5446612e5fc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20podium.png?VersionId=A0hfENMNxSxkfh9Jl6D4WJ9XIraeOukA" /></p>

<p>Mode Design's brief describes a "serene coastal-inspired design blending soft curves, natural textures and light-filled spaces to reflect the relaxed Deception Bay lifestyle."&nbsp;</p>

<p>The material palette leans on white and grey render, timber-look aluminium screening and stacked-brick-look finishes, with hanging greenery and vine planting proposed across balcony edges and ground-level walls.&nbsp;</p>

<p>Balconies feature asymmetrical geometries intended to vary the building's rhythm rather than repeat a single module up the tower, while lush planting is concentrated over the entry and level one balconies to soften the building's base.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="c05c5693-3e00-42d0-b075-55c36094f4db" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20da%201.png?VersionId=cMKJgBsBaaVCd2dA5O22SOT38OT_.BPA" /></p>

<p>The design evolved following an April 2025 prelodgement meeting with council. At that stage, the project was conceived as a seven-storey building containing 45 apartments. The subsequently lodged scheme increases the development to nine storeys and 60 apartments while introducing one-bedroom residences to the mix.</p>

<p>Zone Planning argues the additional scale reflects the site's position within an area earmarked for increased residential intensity. The planning report points to the North Lakes-Redcliffe-Moreton Bay Rail corridor strategy, which identifies Deception Bay as a district-level activity centre and supports greater housing choice within urban neighbourhoods.</p>

<p>Market Square Deception Bay, Deception Bay Sports Centre, Deception Bay State School, public transport, community facilities and the Moreton Bay foreshore are all identified within approximately one kilometre of the site, while the property falls within a 400-metre walking catchment of Market Square.</p>

Joel Robinson

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

<p data-end="587" data-start="368">Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.</p>

<p data-end="778" data-start="589">The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.</p>

<p data-end="907" data-start="780"><a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.</p>

<p data-end="1052" data-start="909">The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.</p>

<p data-end="1311" data-start="1054">The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.</p>

<p data-end="1451" data-start="1313">The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.</p>

<p data-end="1676" data-start="1453">MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.</p>

<p data-end="1908" data-start="1678">Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.</p>

<p data-end="2142" data-start="1910">The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.</p>

<p data-end="2142" data-start="1910"><img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" /></p>

<p data-end="2308" data-start="2144">MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.</p>

<p data-end="2648" data-start="2310">"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.</p>

<p data-end="2797" data-start="2650">"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."</p>

<p data-end="2938" data-start="2799">The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.</p>

<p data-end="3216" data-start="2940">Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.</p>

<p data-end="3325" data-start="3218">Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.</p>

<p data-end="3442" data-start="3327">"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.</p>

<p data-end="3662" data-start="3444">"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."</p>

<p data-end="3818" data-start="3664">MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.</p>

<p data-end="4076" data-start="3820">"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.</p>

<p data-end="4375" data-start="4078">"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."</p>

<p data-end="4503" data-start="4377">Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.</p>

<p data-end="4741" data-start="4505">"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."</p>

<p data-end="4910" data-start="4743">The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.</p>

<p data-end="4951" data-start="4912">MAYD is targeting an early 2027 launch.</p>


First look at MAYD's North Kirra mixed-use precinct

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<p data-end="600" data-start="394">Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.</p>

<p data-end="733" data-start="602">But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.</p>

<p data-end="970" data-start="735">Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.</p>

<p data-end="970" data-start="735">[smartcode_project:default project_id=152737 project_image_fid=377679]</p>

<p data-end="1159" data-start="972">The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.</p>

<p data-end="1357" data-start="1161">It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.</p>

<p data-end="3400" data-start="3216">[smartcode_project:default project_id=152737 project_image_fid=377675]</p>

<p data-end="3400" data-start="3216">Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.</p>

<p data-end="1664" data-start="1517">Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.</p>

<p data-end="1826" data-start="1666">Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.</p>

<p data-end="1826" data-start="1666">[smartcode_project:default project_id=152737 project_image_fid=377685]</p>

<p data-end="2045" data-start="1828">Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.</p>

<p data-end="2269" data-start="2047">"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.</p>

<p data-end="2430" data-start="2271">A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.</p>

<p data-end="2606" data-start="2432">It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.</p>

<p data-end="2724" data-start="2608">At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.</p>

<p data-end="2892" data-start="2726">Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.</p>

<p data-end="2892" data-start="2726">[smartcode_project:default project_id=152737 project_image_fid=377680]</p>

<p data-end="3004" data-start="2894">Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.</p>

<p data-end="3214" data-start="3006">"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.</p>

<p data-end="3400" data-start="3216">The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.</p>

<p data-end="3400" data-start="3216">More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.</p>

<p data-end="3670" data-start="3538">&nbsp;</p>

<p data-end="3670" data-start="3538">[smartcode_project_cta:default project_id=152737]</p>

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>


Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

<p>A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.</p>

<p>Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.</p>

<p>Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374005]</p>

<p>The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.</p>

<p>Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.</p>

<p>Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374010]</p>

<p>Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.</p>

<p>The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.</p>

<p>“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374002]</p>

<p>“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”</p>

<p>The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.</p>

<p>[smartcode_project_cta:default project_id=150999]</p>


Maréa Residences brings parkside apartments to Coolangatta

<p data-end="535" data-start="324">Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.</p>

<p data-end="717" data-start="537">The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.</p>

<p data-end="918" data-start="719">The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.</p>

<p data-end="1131" data-start="920">PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.</p>

<p data-end="1131" data-start="920"><img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" /></p>

<p data-end="1318" data-start="1133">Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.</p>

<p data-end="1433" data-start="1320">The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.</p>

<p data-end="1658" data-start="1591">A significant component of The One will be its residential amenity.</p>

<p data-end="1864" data-start="1660">More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.</p>

<p data-end="2011" data-start="1866">The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.</p>

<p data-end="2011" data-start="1866"><img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" /></p>

<p data-end="2191" data-start="2013">The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.</p>

<p data-end="2365" data-start="2193">PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.</p>

<p data-end="2473" data-start="2367">“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.</p>

<p data-end="2775" data-start="2475">“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”</p>

<p data-end="2943" data-start="2777">The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.</p>

<p data-end="3145" data-start="3001">PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.</p>


PDG secures approval for $1.5bn Southbank apartment development, The One

Sydney

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<p>Bishopscourt, the Anglican Church's redundant Darling Point trophy home after being perceived by church activists to be too grand, has been sold for just $18 million.</p>
<p>Bishopscourt, at 11 Greenoaks Avenue, is one of Sydney's most historic sandstone mansions. Details of an independent valuation of Bishopscourt by Colliers International obtained by Property Observer assessed the market value of the property as $24 million in 2009, when Sydney's $420,000 median dwelling price was almost half the current $810,000.</p>
<p>The sale price of the 6100 sqm holding reflected $2900 a square metre. Albeit nearer the harbour, Atherfield, another Gothic home listed currently with Christies International, comes with price hopes of more than $15 million, reflecting $13,000 per sqm. The $15 million Bellevue Hill Yoorami estate sold at $5200 a sqm last week. Darling Point's top sale remains last December's $23.2 million price secured for a contemporary home through the Agency by Coopes on Eastbourne Road at $25,000 a sqm.</p>
<p>Eastern suburbs estate agents always gave it a probable $25 million sale price, but the church spokesman Russell Powell recently sought to dampen expectations saying: “It is a very unique property but it isn’t the sort of place that a rock star would want to live in.” </p>
<p>It was instead sold with lengthy delayed settlement terms to a buyer who fell in love with its gardens.</p>
<p>The $18 million sale price fell short of entry onto <a href="/news/james-packers-la-mer-unchallenged-atop-sydneys-top-10-trophy-home-sales-in-2015">Sydney's top 10 house sales on 2015.</a></p>
<p>The property has been on and off the market for several years, with Craig Pontey at Ray White Double Bay coming up with the difficult sale. It was suppose to happen Tuesday with the church press release issuance delayed until today, Wednesday.</p>
<p>Millions will now likely be spent on its modernisation by the local buyers who will keep it as a residence.</p>
<p>The iconic 1840s Darling Point property had been expected to attract enormous local and international attention, but in the end Craig Pontey had just two local buyers for the heritage listed offering.</p>
<p>Neighbouring school Ascham wasn't that interested. The Moran family seem content with their nearby castellated abode, The Swifts, another Gothic home for archbishops in Darling Point, which was sold by Catholic Church in 1986 for $9 million.</p>
<p>"Not since the sale of Swifts has a similar property been brought to market," Craig Pontey said on its initial 2012 offering. </p>
<p>The picturesque 1850s Darling Point mansion has been with the church since it paid £6,750 in 1910, so by next year's settlement some 106 years.</p>
<p>It's been home to eight archbishops, including Sir Marcus Loane, Donald Robinson, Harry Goodhew and its present occupant, the 12th archbishop of Sydney, Glenn N Davies, who recently called upon Sydney Anglicans to not only to pray for Syrian refugees but to prepare to provide a warm and generous welcome, coupled with practical assistance.</p>
<p>In the past the church has baulked at selling Bishopscourt, having contemplated it in 1963, 1982, 1991, 2001, and most recently in 2010 when defeated by the narrowest of margins.</p>
<p>In April 1993 Bishop Goodhew, when he was Archbishop-elect, stated “I think the time has come for the diocese to build a new residence for the bishop; one which is functional but not opulent”. No further action, however, was taken and Archbishop Goodhew moved in.</p>
<p>The latest decision to sell falls against the backdrop of the synod's reduced financial capacity after shocking stock market losses following the 2008 global financial crisis. It also poored fairly in its neighbouring residential apartment project.</p>
<p>Many of its parishes have revenues below the requisite amount so face the threat of ceasing to be a parish and becoming a provisional parish. The parishes of Willoughby East, Leichhardt and South Sydney have been among those on notice in recent times, along with the parishes of Auburn, Balmain, Bankstown, Coogee, Enmore/Stanmore, Kingsford, Mulgoa, Mt Druitt and Watsons Bay. </p>
<p>Some church members argued that Bishopscourt produced no income, but cost at least $100,000 annually to keep in good repair. The Rector of Fairfield, Peter Lin, advised the synod in 2012 that $2 million dollars had been spent on the chimneys. He added some members of his congregation had been "scarred" by their visits there because the opulence contrasted with the way Christians lived in other countries, the Anglican press report of the 2012 sale debate noted.</p>
<p>Both something of exaggerations, as Property Observer understands maintenance and conservation work (excluding staff wages) undertaken at Bishopscourt in the a recent eight year period totalled $2.94 million, averaging therefore $368,000 per year.</p>
<p>Bishopscourt, which could revert to its earlier names of Percyville or Greenoaks, sits among the handful of pioneer homes to have survived from the 1850s.</p>
<p>Flowered in sandstone Gothic extravagances, it was built for the pioneer Thomas Sutcliffe Mort, who built an empire on wool, dairy, meat, mining and shipping.</p>
<p>The residence - mostly obscured by the fig trees on its 6216 square metre holding - was designed by architects John Hilly in the 1850s and Edmund Blacket in the 1860s. It was built around an original three-roomed 1835 cottage built for an ironmonger, Thomas Woolley.</p>
<p>Mort was a great supporter of the church, giving it the nearby land to build St Marks.</p>
<p>The church bought the estate from a land speculator in 1910, 32 years after Mort's death in 1878 and the departure of his family.</p>
<p align="left">Prior to the purchase of Bishopscourt previous Bishops of Sydney had lived in a rented house in Darlinghurst (1837-1852), a rented house in Millers Point (1855-1857), and then a new house built in Randwick (on land exchanged for a site in Newtown) (1858-1911).</p>
<p align="left">Shortly after his consecration in 1909, Bishop Wright had observed that the property in Randwick that had served as the residence of the Bishop of Sydney for over 50 years was “too far from the centre of things to be a city dwelling; not far enough out to be a country retreat”. The next year the Diocese bought the Greenoaks property in Darling Point. </p>
<p align="left">The Bishopscourt Sale Ordinance 2012 authorised the sale of Bishopscourt at any time within five years after the date of assent to the ordinance, ie by October 2017.</p>
<p align="left">The 2012 synod was told an real estate agent familiar with Bishopscourt had indicated that there were buyers who are interested in such rare ‘icon’ properties, and that buyers in this market are not unduly concerned by the heritage issues involved.</p>
<p align="left">"This view has been confirmed more recently by some other property professionals with a good knowledge of the current market for properties in the relevant price range in the Eastern Suburbs.</p>
<p align="left">"It is considered that given the prevailing market and the ‘uniqueness’ of Bishopscourt its true value will not be known until expressions of interest are sought."</p>
<p align="left">The sales subcommittee received indication from the real estate agent familiar with Bishopscourt that a number of potential residences would be available in the price range of $5 million to $7 million, subject to whatever requirements the Diocese may wish to include for entertainment areas and guest accommodation.</p>
<p align="left">"Several of these properties have been viewed and deemed suitable," it noted, but no purchase has yet been advised.</p>
<p align="left">Bishopscourt, symbolic of the Anglican Church’s historical place in the city of Sydney, includes sizeable gardens, accommodation for up to 12 guests, a conference room for 20, dining room seating up to 36, and off-street parking for 10-15 cars.</p>
<p align="left">"Attempting to replicate these in an alternative residence would be difficult and the cost would be prohibitive," the synod was warned.</p>
<p align="left">"The Archbishop’s ministry will always involve hospitality and entertainment, and the facilities for this should be available in a new residence.</p>
<p align="left">"While recognising the potential any sale and purchase has to attract unwelcome publicity, the Standing Committee does not see that issue as sufficient to warrant the retention of the present property.</p>
<p align="left">"Indeed, if well handled the sale of Bishopscourt should be seen for what it is, the most responsible course of action." </p>
<p align="left">Bishopscourt is one of the assets held by the Anglican Church Property Trust in the EOS’s capital fund. The Endowment of the See (EOS) - the fund from which distributions are made to support the office of the Archbishop - has been under financial pressure for some years despite making considerable savings in its expenditure, with a reduction from $7 million in 2008 to approximately $3 million per annum in 2012.</p>
<p align="left">It was largely achieved by a reduction in staffing from 27 to 17.</p>
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jchancellor-FAypfDUnLy

Bishopscourt, Darling Point given away at $18 million by cash strapped Anglicans

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<p><span>Sydney's CBD office market saw positive growth during 2015 with the </span>third quarter showing a positive net absorption of 25,600 sqm, the seventh consecutive quarter  of positive net absorption in the CBD office market, according to Herron Todd White.</p>
<p>Herron Todd White's December December Month in Review said the strong tenant activity across the Sydney CBD has seen vacancy further tighten, with the Sydney CBD being the only national CBD office market with a total vacancy below 10%.</p>
<p><span>"Prime and secondary gross effective rents increased over the year, with a recorded increase of 2.7% at the end of the third quarter," it noted.</span></p>
<p><span style="line-height: 1.3em;">"From a supply perspective, a key development underway in Sydney is Barangaroo. </span><span style="line-height: 1.3em;">The first practical completion, Barangaroo South, was recorded in quarter three. The International Towers Sydney (T2) is being completed in stages, with the low and mid- rise components completed, offering 59,385 square  </span><span style="line-height: 1.3em;">metres of lettable area.</span></p>
<p><span style="line-height: 1.3em;">"Nine other commercial office projects are currently under construction across the Sydney CBD, including 200 George Street and 333 George Street. While a number of these projects comprise tenant pre-commitments, it is expected that the shifting tenant profile down to Barangaroo will result in increased available office space in the vacated buildings."</span></p>
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mick.cee-iDmgDDAmu8

Third quarter positive growth in Sydney's CBD office market: HTW

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<div>There are multiple data sources for tracking property markets, but the ABS Residential Property Price Indexes series is always one worth analysing, particularly since the Reserve Bank of Australia (RBA) itself follows it closely.</div>
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<div>Established house prices rose by +2.2% in the third quarter to be +11.4% higher over the past 12 months, while attached dwellings rose by +1.4% to be +8.7 % higher over the year. </div>
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<div>While averages mask endless underlying trends, the long run data implies that on average over the past dozen years established house prices (+5.6% per annum) have been outperforming attached dwellings (+4.8% per annum), commensurate with lower initial spot yields. </div>
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<span>Let's step today's the key figures in three short parts.</span><br><br><strong><span style="text-decoration: underline;">Part 1 - Price indexes</span></strong><br><br><div>The star performers over the past year have been established houses in Sydney (+21.9%) and attached dwellings in the same city (+15.8%).</div>
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<br>Established house prices in Melbourne have also performed strongly to be up by +11.5% over the year, but on average attached dwellings price growth in the Victorian capital has been more contained at +4.5%, reflective of the volume of new supply. </div>
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<div>Dwelling prices over the year have performed solidly in Brisbane (+3.8 per cent), Canberra (+4.0 per cent), Adelaide (+3.5 per cent), and Hobart (+1.7 per cent).</div>
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<div>On the other hand there have been moderate declines to date in Darwin (-2.0 per cent) and Perth (-3.3 per cent), although interestingly Domain Group forecasts moderate price growth to return to both cities in 2016, whereas I have previously argued that prices may follow rents down in the next calendar year. </div>
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<div>Since the end of 2008 Sydney (+83 per cent) and Melbourne (+51 per cent) have outperformed impressively, while prices are also now rising in Brisbane, Adelaide, Canberra, and Hobart. </div>
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<strong><span style="text-decoration: underline;">Part 2 - Stock value</span></strong><br><br><div>Over the past three years the total value of dwelling stock has surged +32 per cent or +$1.42 trillion higher, to a total stock value of $5.86 trillion.</div>
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<div><span>More than 90 per cent of the gains in the value of dwelling stock over those three years have been accounted for by New South Wales (+$756 billion), Victoria (+$390 billion), and Queensland (+$131 billion), with the other states and territories accounting for the remaining +$141 billion. </span></div>
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<div><span>Mean dwelling prices over the past three years have exploded in New South Wales (+$236,000), and increased strongly in Victoria (+$133,000). </span></div>
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<div>In fact, despite the recent declines in Western Australia and the Northern Territory noted above, the mean dwelling price has moved some way higher across all states and territories across a three year timeframe.</div>
<br><strong><span style="text-decoration: underline;">Part 3 - Volume of dwelling stock</span></strong><br><br><div>The final chart below helps to explain why although an increase in the dwelling supply can accentuate market downturns - particularly in smaller towns and cities - in the larger cities an increase in building activity on its own can take years to dampen prices. </div>
<div> </div>
<div>One reason for this is that new builds only ever account for a fraction of transactions in a given year, and therefore the level of available supply at any point in time is rather driven by the established or "second hand" market (another reason is that over-simplified views of the market fail to take account of how well the new supply matches demand at the LGA, suburb, and household formation level).</div>
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<div>Over the past four years, while the Australian Capital Territory (+10.9 per cent) and the Northern Territory (+10.1 per cent) have increased their respective number of dwellings materially, this is of course somewhat harder to achieve when you are starting from a higher base figure.</div>
<div>
<br>Despite this, Western Australia (+8.6 per cent) and Victoria (+7.9 per cent) have made valiant attempts to increase the total supply of dwellings since the the equivalent quarter 2011 according to the ABS data series.</div>
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<div><a href="/images/2015/12/16/Resi7.jpg" target="_blank">Click to enlarge</a></div>
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<div>On the other hand, the ABS figures show that the number of New South Wales dwellings has increased by only +4.4 per cent over the past four years, which may go some of the way to explaining why Sydney's rental market has remained relatively tight to date, despite alleged overbuilding.</div>
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<div>Over the past three years the population of Greater Sydney has increased by around +230,000, and thus while it is easy enough to find localised areas of oversupply, after accounting for stock obsolescence, demolitions, and dwelling approvals that never make it to completion, at the city level at least the market remains relatively balanced in terms of dwelling supply (at least, for now).</div>
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<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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pwargent-M4siyDbqQY

Sydney house prices up 21.9% Pete Wargent

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<p><span>Australian cricket vice-captain David Warner and his wife, the iron woman, Candice Falzon have quickly listed their South Coogee home up for 2016 auction.</span></p>
<p><span>It is their home which cost $6.25 million in early 2014 shortly after the birth of their baby daughter Ivy Mae. </span></p>
<p>The three level contemporary home listed by Bethwyn Richards at McGrath Estate Agents comes with 180 degree views across the Pacific Ocean towards Wedding Cake Island from all levels.</p>
<p><span>The home comes with bespoke cabinetry, American Oak and Travertine flooring. There's a state-of-the-art Calcutta marble kitchen, stone tiled swimming pool, sauna/steam room, and large outdoor BBQ entertaining space.</span></p>
<p>The March 2016 auction listing follows<a href="/news/david-warner-buys-knockdown-property-in-maroubra"> their recent Lurline Bay purchase</a> when they bought an oceanfront knock-down for just under $4 million through McGrath agent Simon Exleton.</p>
<p><span>Offered with lapsed Tobias Architect, the couple has instead quickly commissioned architect Rolf Ockert to create their dream home. </span></p>
<p><span>David "The Kaboom Kid" Warner, in unstoppable cricket form, loves his coastal property. "You can't go wrong on bricks and mortar," he told Daily Telegraph columnist Nick Tabakoff recently.</span></p>
<p><span>He was not alone in that thinking having outbid four contract holders to secure the 892sqm Mermaid Avenue.</span></p>
<p><span>In 2014 Warner secured $1.88 million when his renovated four-bedroom Jenner Street, Little Bay home was listed ahead of the purchase in South Coogee from the property developer and former Secret Millionaire star, Carly Crutchfield.</span></p>
<p><span>Warner had an investment property in Maroubra, which cost $562,000 in late 2009. The 1950s Maroubra Road sold in late 2014 at $650,000. His current portfolio includes Matraville investment apartments.</span></p>
<p><span>After breaking onto the international cricket scene in the 2008/09 season with a series of explosive batting performances taking his test runs past 4000, Warner is now a key opening batsman in the Australian Test team.</span></p>
<p><span>More than $7 million is being sought for the listing.</span></p>
<p><span><em>This article was first published in the Sunday Telegraph.</em></span></p>
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$7 million plus sought by cricketer David Warner in South Coogee

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<p>Sydney's Inner West region had the strongest preliminary clearance rate across the region with 74.6% from 55 auctions, according to CoreLogic RP Data.</p>
<p><span style="line-height: 1.3em;">The Inner South West region had the highest volume of auctions at 126.</span></p>
<p>Some 869 auctions were weld across Sydney for the week ending 13 December with a preliminary clearance rate of 55.2%.</p>
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Sydney's Inner West nets 74.6% clearance rate: CoreLogic RP Data 

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<p>Australian Property Monitors (APM) has released a list of auction results in Sydney for Saturday December 12. </p>
<p><a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank" rel="nofollow">Click here</a> for the auction results, and click on each street address to see the property's marketing.</p>
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APM's Sydney auction results for 12 December

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<p><span>The most expensive property reported sold at weekend auction was a four-bedroom home at 157a Seaforth Crescent Seaforth sold for $5,700,000 by LJ Hooker Seaforth.</span></p>
<p>The deep waterfront comes with <a href="https://www.realestate.com.au/property-house-nsw-seaforth-121184690" target="_blank">pontoon and jetty</a>.</p>
<p><span>A three-bedroom unit at 21/51-55 Upper Pitt Street Kirribilli sold by LJ Hooker Wahroonga for $5,500,000.</span></p>
<p><span>A four-bedroom unit at 3 Parker Street McMahons Point sold for $4,850,000 by Blues Point Real Estate.</span></p>
<p><span>A seven-bedroom home at 2 Ethel Street Burwood sold for $4,325,000 by Rich+Oliva Croydon Park/Burwood.</span></p>
<p><span>A five-bedroom home at 9 Parkview Road Fairlight sold for $3,035,000 by Stone Real Estate.</span></p>
<p><span>A six-bedroom home at 2 Amiens Street Gladesville sold by Ray White Gladesville and Ryde for $2,890,000.</span></p>
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Seaforth tops Sydney weekend sales

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<p><span>The veteran yachtie Matt Allen has cleaned the decks of his prestige eastern suburbs property oversupply by selling Yoorami in Bellevue Hill for $15 million plus ahead of this week's scheduled auction.</span></p>
<p><span>It took its time however, having been on the market for just over two years before the Ray White sale of <a href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-121368626" target="_blank"><span>the six bedroom, six bathroom estate</span></a>.</span></p>
<p><span>Allen is now ensconsced on the waterfront in Darling Point after paying $32 million in 2013 for the home of the late Sir William Tyree. Allen is busy lining up for his 26th start in the Sydney to Hobart Yacht Race on Boxing Day in his ocean racer, Ichi Ban.</span></p>
<p><span>The 1920s Victoria Road Yoorami has been restored by architect Michael Suttor with interiors by Thomas Hamel, retaining its grand period detail.</span></p>
<p><span>The private 2903 sqm gardens come with tennis court.</span></p>
<p><span>Matt bought the Yoorami estate for $5.65 million in 1996 from barrister Geraldine Vandeleur, wife of silk Charles Sweeney.</span></p>
<p><span>Of course Yoorami came to prominence when builders Bill Shipton and Zaro Elizov were reinventing Sydney's top-end mansions in the mid-1980s.</span></p>
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Yachtie Matt Allen sells Bellevue Hill trophy home Yoorami 

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<p><span>Melbourne has a record pre-Christmas Saturday auction next weekend with more than 730 scheduled auctions.</span></p>
<p><span>Fairfax Domain senior economist Dr Andrew Wilson told Fairfax Media Melbourne was going to finish the year with a lot of confidence while Sydney buyers were "just over it". </span></p>
<p><span>"Melbourne will have a pre-Christmas bonanza – it is a record Saturday before Christmas and I think that really does capture the divergence between the two cities."</span></p>
<p><span>Dr Wilson suggested the Sydney clearance rate had stabilised with volumes well down from last year.</span></p>
<p><span>"It's a sign it has stopped the precipitous fall."</span></p>
<p><span>"Although clearance rates have fallen sharply over spring, consistent results over the past month with rates averaging 57.9% indicate a consolidation of market activity.</span></p>
<p><span>"This will provide some relief for sellers and a platform for a rebound in confidence next year," he blogged.</span></p>
<p><span>Evident again on the weekend of the continuing stark disparity between higher and lower-priced regional results across Sydney as outer suburban lower-priced markets to the west have been clear underperformers in the Sydney spring market shakeout – an outcome Dr Wilson suggested had been influenced by higher interest rates for residential investors.</span></p>
<p><span>The city and east recorded the highest regional clearance rate at 72.7% followed by the northern beaches at 70.6%, the inner west with 68.8 per cent, and the lower north at 65.1 per cent at weekend auction.</span></p>
<p><span>The overall 58.1% Sydney clearance rate was just above last weekend’s year-low result of 57.5%bbut well below the 75% recorded over the same weekend last year. </span></p>
<p><span>Auction listings have faded over recent weekends following record levels of activity over spring. The 733 auctions listed on Saturday was well below the previous weekend’s 882 and also significantly below the 998 recorded over the same weekend last year.</span></p>
<p><span>Next weekend more than 300 homes are scheduled for auction in Sydney which Dr Wilson said nonetheless presented another challenge to the market just six days before Christmas.</span></p>
<p><a href="/images/2015/12/14/Screen%20Shot%202015-12-14%20at%209.21.14%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/12/14/Screen%20Shot%202015-12-14%20at%209.21.14%20AM.png" alt=""></p>
<p><span>Source APM</span></p>
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Sydney over it, but Melbourne set for record pre-Christmas auction offerings

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<p><span>Global residential property developer Greenland Australia has sold an 81st floor sub-penthouse at its flagship Sydney CBD development Greenland Centre for $10.3 million.</span></p>
<p><span>Designed by architects BVN Donovan Hill, the Greenland Centre on Bathurst Street will be the tallest residential tower in Sydney reaching 235 metres in height.</span></p>
<p><span>With interiors designed by acclaimed architects Woods Bagot, the four bedroom penthouse finishes exude elegance featuring rich and rare slab marbles, exquisite limestone, and solid timbers. </span></p>
<p><span>Greenland Australia CEO Sherwood Luo said the sale highlights the market’s sustained appetite for prestige apartments in the inner-city.</span></p>
<p><span>Spanning 328.7 sqm, the apartment becomes the fifth penthouse out of nine to sell in the building. Greenland have already sold 98 per cent of the 478 apartment block.</span></p>
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