&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.

Joel Robinson

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 internation 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

<section data-scroll-anchor="false" data-testid="conversation-turn-5" data-turn="user" data-turn-id="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" data-turn-id-container="e65dbe94-e3b6-47f7-b62a-9cbb30c9bf79" dir="auto">Time &amp; Place’s plans to transform the former David Jones factory building in Surry Hills into a mixed-use residential precinct have gone on exhibition through the NSW Government’s In-fill Affordable Housing pathway.</section>

<section data-scroll-anchor="false" data-testid="conversation-turn-6" data-turn="assistant" data-turn-id="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" data-turn-id-container="request-WEB:f4d533b7-64a5-413d-86fd-5c99649c2b73-2" dir="auto">
The Marlborough House proposal, lodged for the <a href="https://www.apartments.com.au/new-apartments/marlborough-house-47-97-marlborough-street-surry-hills-nsw-2010">47-97 Marlborough Street</a> site, would see the adaptive reuse of the heritage-listed warehouse building alongside the construction of new residential additions and a separate apartment building on the northern portion of the site.

The proposal seeks approval for 172 apartments across three buildings, including 15 per cent affordable housing managed by a community housing provider for at least 15 years from occupation.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="5d1d3c2a-bf13-47d6-a335-7c01102cdee1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.36%E2%80%AFAM.png?VersionId=cjMYrbR.BLUlWH4dar0RVDDo0bG.u2YT" />

Interior view from the Northern Building Penthouse overlooking the park

&nbsp;

The redevelopment is planned for the prominent 3,413 sqm site bounded by Marlborough Street, Goodlet Street and Lansdowne Street, directly opposite Eddie Ward Park and around 200 metres from the Surry Hills light rail stop.

Time &amp; Place acquired the former David Jones building in 2024, marking the first time the property had changed hands in around 50 years.

Designed by Wardle, the proposal centres around the adaptive reuse of the former David Jones factory, originally constructed between 1913 and 1935 in the Inter-War Chicagoesque architectural style.

Wardle noted in its Architectural Design Report that the building “occupies a significant place in the industrial and cultural history of Surry Hills” and at its peak was “the largest department store manufacturing facility in Australia, employing over 800 people and fuelling the growth of Sydney’s fashion and retail industries.”

The practice said the project positions itself “not as an isolated intervention, but as a contributor to the civic, social, and architectural grain of the precinct.”

The proposal would deliver 75 apartments within the retained southern heritage building, 59 apartments within the central addition, and a further 38 apartments within the new northern building fronting Lansdowne Street.

Planning documents show the scheme would comprise a mix of heritage apartments, new-build apartments, townhouses and penthouses.

<img alt="Marlborough" data-entity-type="file" data-entity-uuid="57758518-40a3-4b83-958c-d06e96a2cffa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.42%E2%80%AFAM.png?VersionId=VerlX9ST5xgBi8.1_YRsqdWTJeT6ygjs" />Interior View of the Heritage Building Apartment

The development would also include a ground-floor retail tenancy on the corner of Marlborough and Lansdowne streets, rooftop communal open space, a landscaped pedestrian link along the western edge of the site, and basement parking accessed from Lansdowne Street via a car stacker system.

&nbsp;

The scheme emerged from a competitive design process run by Urbis, with Wardle ultimately selected as the winning architect ahead of FJC Studio, TZG, Architectus and Wilkinson Eyre.

The Design Integrity Panel later described several aspects of the Wardle scheme as fundamental to the project, including “the stepped character of the new addition to the north of the site”, the landscaped western pedestrian link, and the “garden arrival” experience separating the original Marlborough House from the heritage addition.

Wardle’s design heavily references the site’s industrial and heritage history, while also responding to the surrounding Surry Hills streetscape.

The Architectural Design Report describes Surry Hills as “a finely grained neighbourhood with beautiful and expressive brickworks throughout the suburb,” with the proposal introducing a material palette intended to sit comfortably alongside the existing warehouse fabric and neighbouring terraces.

The report also outlines the project’s relationship with Eddie Ward Park and the broader landscape context of the area.

“Marlborough House occupies a site of deep cultural memory and the neighbouring Eddie Ward Park is of local ecological significance, where natural systems, topography, and stories have long shaped human experience,” Wardle noted in the report.

The architects said the proposal sought to “rebind built form to Country” through landscape, materiality and the adaptive reuse of the heritage structure.

<img alt="Marlborough House" data-entity-type="file" data-entity-uuid="9ae3f2f9-c85f-477a-a6f8-b43f6cb97c41" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.29.53%E2%80%AFAM.png?VersionId=B.qUCLqRvJOR.n9CvYcTpaknIX9LuqKZ" />

The project is also being progressed under the NSW Government’s in-fill affordable housing provisions, allowing developments that include affordable housing to access additional height and floor space incentives.

Under the plans, 2,593 sqm of the project’s floor space would be dedicated to affordable housing, slightly exceeding the required 15 per cent threshold.

In its Design Excellence Strategy, Urbis said the project aimed to “sensitively adapt and enhance the heritage-listed building on site through alterations and additions that preserve its historical significance” while delivering “high-quality market and infill affordable housing development in Surry Hills.”

Time &amp; Place has been one of the most active developers nationally in the last 12 to 24 months. Late last year they completed&nbsp;The Queensbridge in&nbsp;<a href="https://www.apartments.com.au/developments/southbank-vic-3006">Southbank</a>, a mixed-use tower with 353 apartments and a hotel. They are currently selling Park Modern, 246 apartments near the famous Botanic Gardens in&nbsp;<a href="https://www.apartments.com.au/developments/south-melbourne-vic-3205">South Melbourne</a>, and have future projects, <a href="https://www.apartments.com.au/new-apartments/the-wilmot-173-burke-road-28-hope-street-glen-iris-vic-3146">The Wilmot</a>&nbsp;in&nbsp;<a href="https://www.apartments.com.au/new-apartments/glen-iris-vic-3146">Glen Iris</a>, the redevelopment of the Northcote Plaza, and another tower in South Melbourne.

The developer broke into Sydney just a few years ago with Two Tides in Manly. They have another project nearby, which is at the ultra-luxury end of the market on&nbsp;<a href="https://www.apartments.com.au/buildings/shoreline-manly-beach-89-90-north-steyne-manly">North Steyne</a>, fronting the beach.

It is also continuing to work through the <a href="https://www.apartments.com.au/news/nsw/first-look-time-place-settles-on-design-for-the-chimes-potts-point-redevelopment">redevelopment of The Chimes building</a> on Macleay Street in&nbsp;<a href="https://www.apartments.com.au/developments/potts-point-nsw-2011">Potts Point</a>, as well as a project on <a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Mosman's Redan Street</a>.
</section>

First look: Time & Place unveils Marlborough House redevelopment designs for former David Jones warehouse in Surry Hills

The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Victoria

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There were 953 auctions reported to the REIV on the weekend, with a clearance rate of 71% compared to 68% last weekend and 64% the same weekend last year.
The cheapest weekend sale was a <a href="https://www.realestateview.com.au/Real-Estate/7-72-princes-street-flemington/Property-Details-buy-residential-8613316" target="_blank">$250,000 one bedroom apartment in Flemington</a>. It was marketed with conservative $200,000 to $220,000 price guidance through Nathan Robinson at Brad Teal Real Estate.
It last sold at $196,000 in 2005. It had been listed earlier this year with private treaty $270,000 to $290,000 hopes unsuccessfully.
It was last available for rent in 2013 at a $250 a week asking rental.
Sales of other one bedrooms in the Princes Street block hit $306,000 in 2009, with courtyard. The most recent sale was $295,000 in 2013.
The dearest reported sale was in Box Hill.
 
TOP 5 HOUSES
1. 105 Carrington Road, Box Hill $3,630,000 2. 22 North Road, Brighton $3,160,000 3. 75 Gordon Street, Balwyn $2,870,000 4. 2 Bamfield Close, Templestowe $2,800,000 5. 8 Lurnea Road, Glen Iris $2,675,000 TOP 5 BARGAIN HOUSES
1. 27 Candlebark Crescent, Frankston North $305,000 2. 30 Coleman Crescent, Rosebud West $325,000 3. 61 Banbury Crescent, Craigieburn $335,000 4. 44 Baystone Road, Epping $345,000 5. 1 Selby Street, Dallas $350,000
TOP 5 APARTMENTS
1. 38 Through Road, Camberwell $1,542,000 2. 1B Robert Street, Elwood $1,450,000 3. 1/12 Arkaringa Crescent, Black Rock $1,350,000 4. 101B Oakleigh Road, Carnegie $1,256,000 5. 19B Acacia Avenue, Mentone $1,235,000 TOP 5 BARGAIN APARTMENTS
1. 7/72 Princes Street, Flemington $250,000 2. 2/115 Eskdale Road, Caulfield North $272,000 3. 3/24 Jones Road, Dandenong $300,000 4. 8/201 Blyth Street, Brunswick East $310,300 5. 6/307 Riversdale Road, Hawthorn East $332,500
Source <a href="/news">REIV</a>
 
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jchancellor-FAypfDUnLy

Flemington one bedder comes in as Melbourne's cheapest: REIV

<html><body>
Some 1,220 auctions across 320 suburbs are expected across Victoria this weekend with Mount Waverley, Resevoir and Epping tipped as the hot auction locations by the REIV.
Waverley has 23 auctions slated, Reservoir 18 auctions and Epping 17 auctions
According to the REIV, Murrumbeena boasted the highest clearance rate for any Melbourne suburb in October 2015 (95%), followed by three suburbs from inner Melbourne – Kensington, West Footscray and Thornbury, all reporting clearance rates of 94%.
<table border="0" cellspacing="1" cellpadding="1"><tbody>
<tr>
<td>Last weekend</td>
<td>527 auctions (exc. 19 postponed and 17 withdrawn) </td>
</tr>
<tr>
<td>This weekend</td>
<td>1,220 auctions</td>
</tr>
<tr>
<td>This weekend last year     </td>
<td>64% from 1,143 auctions 
</td>
</tr>
</tbody></table>
<a href="/images/2015/11/5/Screen%20Shot%202015-11-06%20at%2010.02.58%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/5/Screen%20Shot%202015-11-06%20at%2010.02.58%20AM.png" alt="">
<a href="https://www.reiv.com.au" target="_blank">Source: REIV</a>
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mick.cee-iDmgDDAmu8

Tight weekend auction market for Victoria's Waverley, Epping

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A two storey home with a geodesic hexadome design has been listed for sale in Napoleons, Victoria.
The house boasts a distinctive timber feature ceiling under its unusual roofline.
The unconventional nature of the home ensures it comes with an integrated continuous surface.
The unique construction removes the need for material-wasting interior support walls. 
Built in the late 1980's, the two bedroom house features high ceilings and a timber staircase.
There are reportedly more than 400,000 hexadome homes throughout the world adopted extensively in Japan. 
The Rural Activity zoned property features an Olympic size dressage arena with four stables across the 16 hectare land.
Chris Leonard from PRD Nationwide Ballarat has the listing of <a href="https://www.realestate.com.au/property-lifestyle-vic-napoleons-7780390" target="_blank">395 Sobeys Road</a> with $460,000 plus hopes.
Currently the median sales price of houses in the area is $255,000, according to CoreLogic RP Data. 
The property was listed late last month.
It was last traded in 2005 for $355,500.
Napoleons is just 15 minutes from Ballarat and just over an hour from Geelong.
There hasn't been a house sale in the quiet town for around a year.
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Hexadome house offering in Victoria

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A newly-designed Toorak trophy home by architect Drew Cole has been sold after being listed with $7.5 million plus hopes.
Scott Patterson and Michael Armstrong from Kay Burton secured the sale of the four bedroom, four bathroom home.
It comes an internal lift which spans the three level house.
There is a 12 seat home cinema at 4 Woorigoleen Road.
It was last traded when the 1950s house on its 616 sqm block was sold in early 2014 by Peter Benison at Marshall White &amp; Co at $3,075,000. 
The latest sale price has gone undisclosed sold at private auction. 
The median house price for a four bedroom house in Toorak stands at just over $4 million.
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Drew Cole designed home sells in Toorak

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The Portsea boat shed 23 fetched a record $615,000 when auctioned this weekend.
Set at the foot of the track to Shelley Beach it (pictured above) had been tightly held for over four decades.
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The most recent Shelley Beach, Portsea boat shed auction was on the 2015 Australia Day weekend auction (pictured above) which fetched $553,000 for box 28.
Another boatshed on the beach set a record $585,000 in 2011 when five families competed for the box 27 offering.
In 2010 a pair of young families paid $455,000 for boat shed 21 on Shelley Beach.
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In late 2007 there was a $362,000 sale.
It is one of about 40 bathing boxes on Shelley Beach.
There are about 2000 boatsheds and bathing boxes around Victoria, predominantly on the shores of Port Phillip Bay and Western Port.
Shelley Beach is considered Victoria's most exclusive holiday locale as its offers cliff top owners uninterrupted northern views over the bay.
<a href="https://www.realestateview.com.au/Real-Estate/23-boat-shed-shelley-beach-foreshore-portsea/Property-Details-buy-residential-9557544" target="_blank">Box 23 was offered for Sunday auction onsite by Kay &amp; Burton</a> agent Liz Jensen and auctioned by the agency's veteran Gerald Delany who shows no signs of handing in his gavel as he approaches 65 next week.  
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Shelley Beach, Portsea boatshed sells for record $615,000

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There were just the 44 Victorian auctions reported to the REIV on the AFL grand final weekend, with 28 selling. 
Sales ranged between $300,000 at Sunbury to $1.96 million at Mount Waverley.
The cheapest at Sunbury, was a two bedroom house (below) last sold at $274,500 in April 2013.
Its sale price reflected 3.6% annual price growth over the two plus years. The REIV had regional Victoria annual growth at 6.3% almost double over the year to June.
The Barry Plant agency was giving $285,000 to $315,000 price guidance. 
The house had been up for rent at $290 a week recently, reflecting a 5% gross rental yield, slightly down on the $300 weekly asking rent in 2013.
 
<img src="https://i3.au.reastatic.net/800x600/c4b4d58137c24a88d2058138e89a09d6b02556b1a531d61a7ccd2969e3dd90f3/main.jpg" alt="303 Gap Road, Sunbury" title="303 Gap Road, Sunbury" data-index="0"> 
The Mount Waverley top weekend seller was a new house offering, with the nearby three-bedroom home at 52 Lechte Road, Mount Waverley sold for $1,600,000 by Fletchers as second highest price.
Despite the local sporting attraction, it was a weekend when the Chinese were out happy to snap up property. Like all things golden, the Golden Week holiday in China – in the first week of October – is considered a lucky time to buy a property.
This wasn't to deny September didn't see strong sale with a host of top prices paid across Mount Waverley.
A four-bedroom house on 4097-square-metre at 35-37 Regent Street sold at an undisclosed $6 million plus price record for the City of Monash.
The property had passed in at $5.55 million and sold to a developer soon after the auction.
A new townhouse price record for Monash was registered when a newly-built four-bedroom townhouse at 5A Billing Street sold privately for $2.45 million. <a href="https://www.realestateview.com.au/Real-Estate/5b-billing-street-mount-waverley/Property-Details-buy-residential-9428938" target="_blank">The mirror image next door 5B </a>has been scheduled for October 17 Jellis Craig auction.
The second most affordable property reported sold at the weekend was a four-bedroom home at 74 Ballan Road, Werribee sold for $325,000 by LJ Hooker Werribee.
The REIV advised top three auction sales suburbs in the month of September were Reservoir (55 sales), South Yarra (46 sales) and Richmond (42 sales).
TOP 5 HOUSES
 1. 6 Pinewood Drive, Mount Waverley $1,960,000 2. 52 Lechte Road, Mount Waverley $1,600,000 3. 200 Manningham Road, Bulleen $1,280,000 4. 33 Bowen Road, Doncaster East $1,035,000 5. 2 Calrossie Road, Blackburn South $960,000
 TOP 5 BARGAIN HOUSES
 1. 303 Gap Road, Sunbury $300,000 2. 74 Ballan Road, Werribee $325,000 3. 19 Betula Street, Doveton $410,000 4. 8 Simpson Drive, Dandenong North $505,000 5. 13 Brolga Avenue, Chelsea Heights $533,000 TOP 5 APARTMENTS
 1. 2/20 Kerry Parade, Mont Albert North $910,000 2. 3/3 Myrtle Road, Canterbury $837,000 3. 17/135 Brighton Road, Elwood $796,000 4. 215/9 The Arcade, Docklands $590,000 5. 803/8 Marmion Place, Docklands $482,000
Source <a href="/news">REIV</a>
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Slow growth Sunbury, Victoria's cheapest weekend sale

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Mid-range three to four bedroom home builds around Melbourne's western fringe suburbs of Point Cook, Tarneit, Wyndham Vale and Williams Landing on 150sqm are going for around $1,000 to $1,250sqm, according to Herron Todd White.
In the August Month in Review, HTW gave the example of a home in Tarniet, built in 2008 on 162sqm, that sold in June for $365,000 as a recent example.
Construction rates for the high end prestige sector range from $3,500 to $5,500 per square metre and are "a significant rise from the 2009 report figures of $2,500 to $3,000, indicative of the labour intensity of such builds" the report states.
A recent high-end construction in <a href="/news">Balwyn North</a> with five bedrooms, European oak parquetry, and views on a land area of 828 square metres is worth approximately $4,132 per square metre. It sold recently for $4,428,000.
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Balwyn North noted for new Victorian prestige builds: HTW

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A clearance rate of 77% was recorded in Melbourne at weekend auctions, compared to 77% last weekend and 73% this weekend last year.
There were 735 auctions reported to the REIV.
So far this year, there have been over 22,000 auctions held - up 14% from last year.
TOP 5 HOUSES
<img src="/images/2015/08/17/Screen%20Shot%202015-08-17%20at%209.28.13%20AM.png" alt="" width="417" height="294">
1. 95 Rowell Avenue, Camberwell $3,200,000 (pictured above) 2. 37 Lynch Crescent, Brighton $3,000,000 (pictured below) 3. 62 The Highway, Mount Waverley $2,935,000 4. 41 Fisher Parade, Ascot Vale $2,605,000 5. 18 Yeneda Street, Balwyn North $2,600,000
<img src="/images/2015/08/17/700_brighton.jpg" alt="" width="514" height="312">
 TOP 5 BARGAIN HOUSES
1. 6 Warianna Court, Kurunjang $250,000 2. 21 Lionheart Court, Epping $282,000 3. 10 Ewarts Road, Don Valley $301,000 4. 125 Seventh Avenue, Rosebud $320,000 5. 30 Earlston Place, Craigieburn $320,000
 TOP 5 APARTMENTS
1. 1/312 Barkers Road, Hawthorn $1,805,000 2. 2/82 Vale Street, East Melbourne $1,805,000 3. 16.1/193 Domain Road, South Yarra $1,720,000 4. 4 Tanner Street, Richmond $1,505,000 5. 1/270 Balcombe Road, Beaumaris $1,220,000 TOP 5 BARGAIN APARTMENTS
1. 2/8 Walnut Street, Carnegie $235,000 2. 2/1152 Heatherton Road, Noble Park $290,000 3. 8/264 Hope Street, Brunswick West $305,000 4. 5/27 Dwyer Street, Clifton Hill $321,500 5. 3/133 Grange Road, Glen Huntly $325,000
Source<a href="https://www.reiv.com.au/PROPERTY-DATA/Auction-Results/Auction-Results" target="_blank"> REIV</a>
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Camberwell edges out Brighton: REIV

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ASIC has commenced proceedings in the Federal Court of Australia against companies associated with Jamie McIntyre and the 21st Century Group in relation to their promotion to investors of five land banking schemes.
<img src="/images/2015/08/10/jamiemcintyre1.png" alt="">
ASIC alleges that the schemes are unregistered managed investment schemes and that the 21st Century Group companies and Mr McIntyre have been unlawfully carrying on an unlicensed financial services business.
The five schemes are promoted and advertised as:
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<li>Botanica, located at 805 Archer Rd, Kialla, Victoria 3631</li>
<li>Secret Valley Estate, located at  955, Old Sydney Road, Bylands, Victoria 3762</li>
<li>Oak Valley Lakes Estate &amp; Resort, located at  124 Booth Road, Brookhill, Townsville, Qld 4816.</li>
<li>Bendigo Vineyard Estate &amp; Resort, located at  51 Andrews Road, Bendigo, Victoria 3551</li>
<li>Melbourne Grove Estate, located at  1491 Dohertys Road, Mount Cottrell, Victoria 3024</li>
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ASIC understands that there are over 100 investors in the schemes, which have been promoted to investors, including through seminars, by entities associated with Mr  McIntyre's 21st Century Group.
Companies associated with Mr McIntyre and the 21st Century Group are also the developers of the schemes (development companies). 
ASIC is seeking orders to appoint a provisional liquidator or receiver and manager to each of the five schemes and the development companies in order to take control of any assets and protect the interests of investors.
The development companies are:
<ul>
<li>Archery Road Pty Ltd (ACN 162 921 735)</li>
<li>Bendigo Vineyard Estate Pty Ltd (ACN 600 088 211)</li>
<li>Secret Valley Estate Pty Ltd (ACN 602 817 532)</li>
<li>Kingsway South Holdings Pty Ltd (ACN 159 230 976)</li>
<li>Melbourne Tarniet Estate Pty Ltd (ACN 603 945 393)</li>
</ul>
ASIC is also taking action against the development companies and the following for being involved in an unlicensed financial services business.
<ul>
<li>Mr Jamie Neville McIntyre (Surfers Paradise Qld)</li>
<li>Mr Dennis McIntyre (Surfers Paradise Qld)</li>
<li>Property Tuition Pty Ltd (ACN 129 421 281)</li>
<li>Education Holdings Pty Ltd (ACN 129 551 917)</li>
<li>Sourcing Property Pty Ltd (ACN 602 474 779)</li>
</ul>
ASIC is also seeking orders that each of the defendants, including Mr McIntyre, be restrained from promoting, further promoting or operating any of the schemes and from operating a financial services business.
The matter is set down for a first hearing on Friday 14 August 2015.
ASIC’s proceedings are part of ASIC's wider and ongoing investigation into land banking schemes. 
ASIC last week took proceedings against Midland HWY, which was the developer of a land banking scheme known as, 'Hermitage Bendigo' (formerly, 'Acacia Banks')  located  outside of Bendigo in Victoria.  The 21st Century Group also promoted this development.
Land banking is a real estate investment scheme involving the acquisition of large blocks of land by a promoter or developer of the scheme, often in undeveloped rural areas, who then offer portions of the land to investors. 
Land banking companies typically promote the investment with representations of high potential returns if the land is redeveloped, or if plans for rezoning and development are finalised.
Investors either purchase a lot in the land, or acquire an option to purchase a lot of land in an unregistered plan of subdivision.  The option agreement is triggered at a time that the necessary development is approved by the local council.
While ASIC does not regulate direct property investment, ASIC considers that land banking schemes, depending on the particular scheme, may be a managed investment scheme and/or a financial product and that the promoters of these schemes should therefore hold an Australian financial services licence and register these schemes with ASIC.
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Land banking Jamie McIntyre's 21st Century Group facing ASIC proceedings

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ASIC has commenced proceedings in the Victorian Federal Court against land banker company administrators, David Anthony Ross, Richard Albarran and the landbanking company, Midland HWY Pty Ltd (Midland HWY) (administrators appointed).
Messrs Ross and Albarran, of Hall Chadwick Chartered Accountants, are the current appointed administrators of the controversial land bankers, Midland HWY.
But the administrator appointment on July 14 has become the subject of ASIC's proceeding in which ASIC seeks their removal as administrators or to invalidate the first meeting of its creditors held on July 14.
Midland HWY had previously appointed Messrs Nicholas John Martin and Craig David Crosbie of PPB Advisory as joint and several administrators, just two weeks earlier.
Prior to being placed into voluntary administration on 2 July 2015, Midland HWY was the developer of a land banking scheme known as, Hermitage Bendigo (formerly, 'Acacia Banks'), located just outside of Bendigo, Victoria.
"ASIC is concerned that the appointment of Messrs Ross and Albarran, as replacement administrators to Midland HWY, occurred in circumstances where many investors in Hermitage Bendigo, who may also be creditors, were not given notice of the first meeting of creditors," ASIC advised.
The matter is set down for hearing on August 3, 2015.
The financial advisor Scott Pape, known as the Barefoot Investor, <a href="/news/scott-pape-warns-about-central-victoria-land-banking-paddock-speculation">warned investors last year not to lured by spruikers into speculatively buying rural zoned land his central Victorian district</a>.
The land banking process involves paying a $40,000 option on a portion of a larger rural parcel of land in anticipation of residential zoning.
In seven to 10 years' time the buyer has the option to buy or sell it, and supposedly make capital gains after rezoning success by the property spruiking investment firms.
"The mob behind this have reportedly been selling options on paddocks around my home town of Bendigo," Pape told his Herald Sun readers.
"I think it’s a giant, steaming, dog turd of a deal," he advised.
Last year the Urban Development Institute of Australia chief executive Tony De Domenico warned buyers to be careful about paying for options or reservation fees on land that ultimately may or may not be developed.
Hermitage Bendigo has been loosely aligned with longtime notorious property spruikers.
Last month the Australian Securities and Investment Commission told members of the Senate Economics Legislation Committee they were "making inquiries" into land-banking schemes involving millions of dollars from mum and dad investors.
Land banking spruiking has been also marketed in outer western Melbourne, Ballarat and Wallan.
Buying land, not houses was pushed as the most suitable investment strategy by the marketeering companies for the mum ands dad investors.
It used options to buy land as opposed to borrowing money and paying interest on the land for a decade or more waiting for it to rise.
“Especially if you can use ‘property options’ to avoid borrowing, it means you get all the upside of capital growth without any interest repayments or holding costs or the need to beg a bank to loan you money,” was the pitch.
Buyers were told that if they were able to secure an option over a future lot of land worth $150,000 today, in ten years time they could expect the land to be worth $300,000 or more of in a fast growing area.
“A great idea to action now, for children to lock in property at today’s prices. 
"Or you can resell the option for a handsome profit and never need to buy the land as it has intrinsic value.
“The best thing about property options means you aren’t obligated to buy i.e. as they are simply call options, you have no risk and can walk away at any time.
“Plus if the option is by a legitimate supplier, they will offer a 100% money back guarantee if the worse should happen and the development doesn’t proceed, secured by the land development itself.
“These quality 100% money back property options secured by real estate are becoming highly sought after products for savvy investors."
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