Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

Joel Robinson

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

&nbsp;

Developer GURNER™ Group has revealed $1.65 billion in residential sales nationally across the 12 months to December 2025, driven largely by the continued momentum of its Docklands wellness-focused precinct, Elysium Fields.

The sales result was generated across seven projects in Victoria and New South Wales, headlined by Elysium Fields, GURNER™’s $2.75 billion mixed-use precinct planned for Harbour Esplanade in Docklands.

The project has recorded more than $500 million in sales across the first three towers, equating to around 580 apartments sold.

The first tower, Helios, has now sold out of its 240 private residences, with GURNER™ preparing to release a premium penthouse collection comprising 15 three-bedroom penthouses in coming weeks.

[smartcode_project:default project_id=144441 project_image_fid=370975]

Elysium Fields is being developed on the long-held 20,000 sqm Docklands site at 208-226 Harbour Esplanade, which had remained undeveloped for more than two decades prior to GURNER™ taking over the project around four years ago.

Construction has now commenced across four towers ranging between 18 and 30 storeys, with Hamilton Marino and Maxcon appointed as builders.

Once complete, the precinct is expected to comprise around 1,100 residences, alongside retail, hospitality and public realm uses integrated throughout the site.

[smartcode_project:default project_id=144441 project_image_fid=370981]

Designed by Fraser &amp; Partners in collaboration with GURNER™ Design House, the project has been positioned around the developer’s broader focus on wellness-led residential living.

“We don’t sell apartments. We create a true luxury lifestyle that simply doesn’t exist elsewhere in the market today,” Founder and Executive Chairman Tim Gurner said.

“To deliver that requires an extraordinary level of detail, coordination and discipline across multiple verticals, from design and hospitality through to wellness and service.”

“We’ve always believed that living extends far beyond the physical residence. It’s about how you feel the moment you arrive, how you live day-to-day, and the ecosystem that supports that.” 
[smartcode_project:default project_id=144441 project_image_fid=370977]

The project’s design places a heavy focus on landscaping, wellness amenities and biophilic design principles.

Plans include around 3,700 sqm of landscaped gardens and open space throughout the precinct, alongside a retail and dining offering spanning approximately 5,000 sqm.

The broader public realm strategy centres around what GURNER™ describes as the “Path of Life”, an urban forest and landscaped pedestrian environment intended to connect the various buildings and wellness spaces across the precinct.

The apartments themselves will incorporate a range of wellness-focused inclusions, including purified air and water systems, circadian lighting, antimicrobial surfaces, and optional in-home wellness upgrades.

[smartcode_project:default project_id=144441 project_image_fid=370980]

Gurner said the company’s experience through its Saint Haven wellness clubs had directly informed the residential offering now being incorporated into Elysium Fields.

“We’re seeing a clear global shift toward longevity, performance and proactive health,” Gurner said.

“Our role is to deliver that in a way that feels seamless, highly private and beautifully resolved within the environments we create.”

A large component of the wellness offering is planned through the resident amenity and health facilities proposed within the precinct.

That includes plans for bathing and recovery facilities spread throughout the towers, incorporating mineral pools, saunas, steam rooms, flotation therapy, red light therapy and wellness lounges.

The developer is also seeking approvals for what it describes as a “reverse ageing medical clinic” within the precinct.

[smartcode_project:default project_id=144441 project_image_fid=370978]

According to project information released by the group, the proposed facility would include cryotherapy, IV infusion therapy, infrared and dry saunas, PEMF beds, MRIs, DEXA scans, brain scans and blood analysis services.

Within the first tower, Helios, residents will also have access to a dedicated amenity offering known as the Sky Private Club.

The upper 15 levels of the building will include private lounges, dining spaces, rooftop amenities and optional private wellness studios integrated within residences.

The Helios tower itself comprises 260 apartments ranging between 60 sqm and 300 sqm, including a collection of penthouses.

That includes a planned two-storey penthouse spanning around 600 sqm with uninterrupted bay views.

The Elysium Fields precinct is being delivered in partnership with Digital Harbour Holdings, a consortium that includes the Liberman family, which controls the development rights across the Docklands site.

[smartcode_project:default project_id=144441 project_image_fid=370979]

The sales result comes as GURNER™ continues expanding its national development pipeline beyond Victoria.

“We have a strong pipeline across Australia and are now focused on scaling into key markets including New South Wales and Queensland, while continuing to build on our Melbourne base,” Gurner said.

“We currently have more than $3 billion in the market, growing to over $5 billion by October, and expect to materially outperform last year in the 2026 calendar year.”

The result also reflects the continued strength of the upper-end apartment market in Melbourne, particularly for owner-occupier-focused product with large-scale amenity and lifestyle offerings.

[smartcode_project_cta:default project_id=144441]

Record result anchored by the Group’s “utopian” Elysium Fields precinct – defying market headwinds in Docklands.

Elysium Fields drive Gurner to $1.65 billion in apartment sales over 2025

National Australia Bank (NAB) will fund <a href="https://www.apartments.com.au/new-apartments/palmera-residences-gold-coast-18-garfield-terrace-surfers-paradise-qld-4217">Palmera</a>, a $1 billion, 52-level luxury residential tower being developed by Central Equity in one of the Gold Coast’s most tightly held coastal locations at Northcliffe.

The project, launched recently by <a href="https://www.apartments.com.au/developers/central-equity">Central Equity</a>, one of Victoria’s largest private residential developers, comes at a time when construction funding for large residential developments has become increasingly competitive as lenders tighten exposure to the sector.

Multiplex has been appointed the builder, and construction is now underway.

[smartcode_project:default project_id=108274 project_image_fid=365784]

Since its first project, Central Equity has delivered more than 85 residential developments with a combined end value exceeding $8 billion.

Palmera reflects Central Equity’s growing focus on the Gold Coast luxury apartment market and continues a relationship between Central Equity and NAB that dates back to the late 1980s, when the bank funded one of Melbourne’s earliest inner-city residential towers at a time when high-rise apartment living in the CBD was largely unproven.

“NAB’s funding of Central Equity’s $36 million CBD development in the late 1980’s to the financing of the billion-dollar tower today highlights the long-term relationship between the two organisations in delivering major residential projects” said Central Equity Founder and Chairman Eddie Kutner.

He said NAB’s early support was instrumental in helping establish the company’s development model.

“When we commenced our first residential tower in the late 1980s the concept of funding off-the-plan apartments was still largely untested in Australia,” Kutner said.

“NAB recognised the opportunity early and supported the project when others were uncertain. That relationship has now continued for more than 37 years across many developments.”

[smartcode_project:default project_id=108274 project_image_fid=365771]

Central Equity was established in 1987 when Melbourne’s CBD and Southbank precinct were still dominated by warehouses and commercial buildings. Fewer than 100 residents lived in Southbank at the time, and large-scale residential development in the inner city was not widely considered.

Recognising changing demographics and lifestyle preferences, the company began developing high-rise residential projects designed to bring permanent residents into the city centre.

Central Equity has provided accommodation for approximately 40,000 residents across Melbourne’s CBD and Southbank, while also incorporating supporting infrastructure including essential lifestyle facilities like retail spaces, childcare facilities and neighbourhood activity centres.

Central Equity has spent many years assembling the Palmera development site on the corner of Garfield Terrace and Frederick Street in Northcliffe, creating a supersite of around 3,300 sqm.

The developer said the Palmera apartment tower reflects its long-term view of the Gold Coast as a growing and increasingly diversified economy.

[smartcode_project:default project_id=108274 project_image_fid=365768]

Supported by infrastructure including the light rail network, major road upgrades expanded education, hospital and medical facilities and continued expansion at the Gold Coast Airport with more international and domestic flights.

Positioned in the tightly held Northcliffe precinct, the 52-level tower will deliver 347 apartments, targeting buyers seeking a high-end coastal lifestyle, from downsizers to interstate investors.

Designed by Marchese Partners with interiors by DBI, Palmera has been conceived as a next-generation residential offering, featuring a collection of oversized apartments, with premium three-bedroom residences offering sweeping northern views stretching from Surfers Paradise through to Burleigh Heads.

[smartcode_project_cta:default project_id=108274]

NAB funds $1 billion Surfers Paradise apartment development, Palmera

Two years after completing one of the newest developments in North Sydney, developer <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a> is turning its attention to the rapidly evolving St Leonards apartment market.

The developer, which completed AURA by Aqualand on North Sydney's Walker Street, has lodged plans for a 5,918 sqm site at <a href="https://www.apartments.com.au/new-apartments/33-37-herbert-street-st-leonards-nsw-2065">33-37 Herbert Street, St Leonards,</a> seeking approval for a pair of residential towers rising above a shared podium opposite Royal North Shore Hospital.

The proposal forms part of the broader transformation underway across the St Leonards-Crows Nest precinct, where former industrial and commercial sites are increasingly being redeveloped into high-density mixed-use projects tied to major transport infrastructure.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="2cc428cf-fe70-4cac-9cd5-264ad53af62c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.56%E2%80%AFAM.png?VersionId=otKSnHtbjAvAddOnovyXQMgcAwE6DMe1" />

According to the planning documents, the site sits “within the St Leonards–Crows Nest Strategic Centre, identified by the NSW Government as a key area for accommodating future jobs and housing across Sydney.”

The proposal has been designed by fjcstudio, formerly FJMT Studio, and is being progressed through the State Significant Development pathway due to its scale and affordable housing provision.

The scheme would comprise 413 apartments, including 46 affordable housing units, alongside retail and commercial uses fronting Herbert Street. The project would also include communal open space, landscaping, a swimming pool, gymnasium, children’s play areas and podium-level resident amenities.

Planning documents show the development would consist of a part-13, part-39 storey tower form positioned above a four-storey podium.

“The development comprises a unified podium that activates the street interface, and two setback towers to accommodate new housing supply while maintaining an appropriate human scale at ground level,” fjcstudio noted in its Design Report.

The northern and southern towers have been shaped to respond to the surrounding skyline while also limiting overshadowing impacts to nearby public open space, particularly Talus Reserve.

The design report said the differing tower heights were intended to “contribute to a varied skyline while responding to the surrounding built form context and solar access considerations.”

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="36da62dc-ff9e-41f2-a7e3-7be38373751c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.45%E2%80%AFAM_0.png?VersionId=Mo6Rp2r.XRLTzIfg_PEEpw8NepDH8UBs" />

The site sits directly opposite Royal North Shore Hospital and within walking distance of both St Leonards Station and the new Crows Nest Metro station.

While the site itself sits just outside the formal Crows Nest Transport Oriented Development boundary, the planning documents repeatedly reference its alignment with the broader TOD objectives reshaping the Lower North Shore.

“The site is located adjacent to St Leonards Station and in close proximity to Crows Nest Metro which is within the Crows Nest Transit Orientated Development Accelerated Precinct which has been identified by the NSW Government to support housing delivery,” the Design Verification Statement noted.

According to fjcstudio, the project has been designed to respond to the broader transition occurring across St Leonards, where increasing residential density is being concentrated around transport infrastructure and employment hubs.

“The broader precinct is undergoing significant change, with a mix of existing mid-rise buildings and newer high-density developments,” the report stated.

“Recent and approved projects indicate a consistent shift toward taller built form, typically organised as tower-and-podium typologies with more active ground levels.”

The proposal includes close to 6,000 sqm of retail and commercial space across the ground floor and podium levels, designed to create a more activated street edge along Herbert Street.

Aqualand’s plans would also introduce a landscaped podium shared between the two towers, with communal open space in the form of a podium rooftop designed to support resident interaction and improve urban greening outcomes. The scheme would also introduce pocket parks at the northern and southern ends of the site, including a landscaped area at the corner of Herbert and Ella streets designed to improve pedestrian amenity and soften the streetscape.

&nbsp;

The proposal is being progressed through the NSW Government’s Housing Delivery Authority pathway, which was introduced to accelerate housing supply across the state. The application was declared State Significant Development in April 2025 following an expression of interest process.

<img alt="Aqualand" data-entity-type="file" data-entity-uuid="faf6d97d-2671-454f-b85a-fe1c6a7be608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%209.51.49%E2%80%AFAM.png?VersionId=diVd28OBVr5.YV.7prrOz.uAanwwwm7a" />

St Leonards has been particularly active with new developments in recent weeks. Developer SP Setia’s <a href="https://www.apartments.com.au/news/nsw/first-look-sp-setia-targets-st-leonards-skyline-with-40-storey-tod-tower">plans for a new 42-storey tower</a> recently went on exhibition through the same pathway, while <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">Stockland’s 52-storey tower proposal</a> was also recently unveiled.

Aside from the St Leonards project, which is expected to take around nine months to move through the approvals process ahead of a potential 2027 launch, Aqualand is also preparing to launch Boronia, a new apartment project in Roseville comprising around 111 apartments on Larkin Street.

The developer also has approvals in place for the next stage of the Barangaroo precinct, which will feature new residential, retail, hospitality and community uses, alongside a new metro entry across the five-hectare site.

More than 50 new retail destinations are planned for Central Barangaroo, alongside a 270-metre-long boulevard connecting Hickson Park to Nawi Cove. Together with Harbour Park, more than 50 per cent of the precinct will comprise public open space and parkland.

First look: Aqualand joins St Leonards apartment party

Victoria

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Unique Estate’s Nicolette van Wijngaarden has listed Karbeethong Lodge on the shores of Mallacoota inlet in Victoria’s East Gippsland.
The coastal guesthouse dates from 1903 but began with guests in the 1920s.
The holding boasts fruit trees, a cottage garden and access to a jetty.
<a href="https://uniqueestates.com.au/listings/residential_sale-278785-mallacoota/" target="_blank">Offers over $1.8 million</a> are being sought. 
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Mallacoota's Karbeethong Lodge listed for sale

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The Easter weekend's priciest auction offering, Lido at Portsea (pictured above), didn't sell at 148 Back Beach Road.
Kay &amp; Burton had Lido, a classic two storey holiday home with plenty of accommodation, decking, swimming pool and private gardens on 1,500 square metres with views over <a href="https://www.realestateview.com.au/Real-Estate/148-150-back-beach-road-portsea/Property-Details-buy-residential-8445140" target="_blank">Port Phillip Bay and the Southern Peninsula coastline</a>. But it did not sell.
But plenty of low-key sales were achieved, especially at Victoria's coastal locations, and most came with undisclosed auction and private treaty prices.
Disclosed auction sales on Saturday and Sunday peaked with a cottage sale of $395,000 at St Andrews Beach. It last sold in 2007 at $270,000.
The <a href="https://www.realestateview.com.au/Real-Estate/31-tiberius-road-st-andrews-beach/Property-Details-buy-residential-8433254" target="_blank">31 Tiberus Street, St Andrews Beach</a> was a permanent rental at $230 a week. It was listed with $295,000 plus price guidance through hockingstuart.
Land sales ranged up to a $265,000 block of land at San Remo.
There were no bids when 8 River Reserve Road, Aireys Inlet was put to auction, having been listed with $950,000 plus hopes.
<a href="/expert-insights/buying/fairhaven-clifftop-house-sells-for-3-million-before-easter-auction">A Fairhaven holiday house has sold for $3 million</a> before its scheduled Easter Sunday auction.
The double storey home at Lialeeta Road was listed with $2.75 million to $3 million price expectations by Marty Maher and Mim Atkinson of Great Ocean Properties Aireys Inlet.
Kay &amp; Burton secured <a href="https://www.realestateview.com.au/Real-Estate/4-benjamin-parade-blairgowrie/Property-Details-sold-residential-8444826" target="_blank">a Blairgowrie sale</a> at an undisclosed price. It last sold in 2007 at $1.23 million.
A Talbot Street, Barwon Heads house sold at an undisclosed price as did 41 The Esplanade, Portarlington, which had been a private treaty offering with $849,000 hopes.
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Low key coastal Victorian Easter auction results

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The number of homes transacting across the Latrobe-Gippsland region has fallen over the 12 months to November 2014, down 7% compared to November 2013, according to recent CoreLogic RP Date research.
Despite the fact that less properties have transacted over the year, property values across the region continue to climb, up 5.1% for houses and 5.5% for units over the year to December 2014.
Latrobe-Gippsland homes are taking a long time to sell currently, 118 days for houses and 122 days for units, however it is noted that this is an improvement when compared to the same time last year when homes were taking 121 days and 130 days to sell for houses and units respectively. 
Click to open in new window:
<a href="/images/2015/03/16/latrobe-mar-16-one.jpg" target="_blank"><img src="/images/2015/03/16/latrobe-mar-16-one.jpg" alt=""></a>
Source: CoreLogic RP Data
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House transactions decline in Latrobe-Gippsland region: CoreLogic RP Data

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Abercromby's have a house on Lake Eildon in central Victoria listed for sale.
Lakewood was featured in the <a href="https://www.propertyobserver.com.au/https://www.amazon.com/100-Dream-Houses-Down-Under/dp/1864703016" target="_blank">100 Dream Houses from Downunder</a>.
The property at <a href="https://www.realestateview.com.au/Real-Estate/lakewood-360-campagnolos-road-mansfield/Property-Details-buy-residential-8303160" target="_blank">360 Campagnolos Road, Mansfield</a> has $2.5 million hopes through Abercromby's agent Tim Bennetts.
Designed by architects BBP with views across Lake Eildon's Delatite Arm, it is primarily constructed from glass and steel.
It has eight bedrooms, multiple living areas, state of the art kitchen and boat shed on its 18 acres.
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Lake Eildon home worthy of the 100 Dream Houses from Downunder

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Point Cook continues to be a magnet for first home buyers with house prices recording an increase of just 39.5% over the past 10 years, new data reveals.
The latest PRDNationwide figures show that the median price for a house in the popular western suburb of Melbourne rose from $336,750 in 2004 to $470,000 last year.
However, unit prices dipped from  $310,000 to $298,000 in the same period.
PRD Nationwide research analyst Harrison Hall said Point Cook remained one of the most affordable suburbs in Melbourne.
“The Point Cook market has been growing steadily at an average of 4% per annum for the past 10 years,” Hall said.
“This means owners are getting good returns but it has still maintained its affordability for people looking to enter the local market. 
“Whereas the Greater Melbourne market has become more unaffordable with median prices rising 7.3%, which means it’s becoming harder for people to buy in.” 
However, he said buyers needed to be wary of the constant new supply in the area, forcing vendors to sell their older properties below the cost of new ones.
“Sellers would have a very hard time selling their property for more than a comparable new property,” Hall said.
“There will be consistent development for years to come which means this will always be an issue.”
Point Cook had over $460 million worth of new projects to be completed in 2015, including more than 360 new dwellings and large-scale subdivisions. 
He said the suburb was also slated for infrastructure and commercial projects including a $48 million extension to the Point Cook Town Centre with a major super market, 14 speciality shops, car parks and commercial facilities to be completed by 2016.
CoreLogic RP Data spokesperson Robert Larocca said Point Cook remained sought after being just 21km from the Melbourne CBD.
“It has proved popular, because for the same price you have got to live 30km or 40km away from the CBD in the east,” Larocca said.
He said the suburb’s performance varied depending upon the location.
“There are some very exclusive parts of Point Cook and there are much more affordable properties,” he said.
“For instance, it is a suburb where (last year) you saw 155 homes sold under $400,000 and 14 sold for over $1 million in the same period. 
But he said most of the properties sold from $400,000 to $600,000.
Hockingstuart Real Estate Altona sales executive Tony Anile said Point Cook’s affordability made it strong property market.
“There is a lot of new homes being built, a lot of vacant land being developed,” Anile said.
“There are a lot of young families moving into the area.
“It is a place where you can get into for a good family-sized home.”
Oliver Hume Real Estate project manager Nick Lacarruba said demand for land and housing packages had picked up again after a slump in 2011. 
“Consumer confidence is back and there are a number of different projects that are coming to the market,” Lacarruba said.
“The size of the market has increased.”
Lacarruba said land sizes generally varied from 300 square metres to 600 square metres on average.  He said there was a prevalence of double-story homes ranging from 20 square metres to 50 square metres.
Photo of Point Cook courtesy of <a href="https://www.flickr.com/photos/boobook48/" target="_blank">Lorraine Phelan</a>/flickr.
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Point Cook a magnet for first home buyers

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A Fairhaven holiday house has sold for $3 million before its scheduled Easter Sunday auction.
The double storey home at <a href="https://www.realestateview.com.au/Real-Estate/lialeeta-road-fairhaven/Property-Details-sold-residential-8401114" target="_blank">Lialeeta Road</a> was listed with $2.75 million to $3 million price expectations by Marty Maher and Mim Atkinson of Great Ocean Properties Aireys Inlet.
While Maher says there is often strong interest in the tightly held holiday homes in Aireys Inlet, the Lialeeta Road house is "certainly a standout property".
"There have only been a handful of $3 million plus sales in the area," says Maher.
The home's location, with easy access to the Fairhaven Surf Lifesaving Club, along with its clifftop position, set it apart from other properties in the area.
The vendors had held the property, used as a holiday home, for 19 years. The three bedroom house on a 920 square metre parcel was renovated in 2010, with timber featuring prominently.
"It had quite a lot of people looking through it, but affordability is an issue at that end," says Maher.
Ultimately, there were two interested parties, with buyers from Melbourne making the $3 million offer pre-auction and securing the property. It will be used as a holiday home.
Its auction was to be one of a number Victorian coastal properties going under the hammer on the traditionally quiet <a href="/news/vic/two-aireys-inlet-homes-among-coastal-victorian-easter-auctions">Easter long weekend</a>.
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jrichardson-uRX5hFdKfN

Fairhaven clifftop house sells for $3 million before Easter auction

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The Satterley Property Group has tripled its market share in Melbourne’s land market.
It is on track to sell 850 lots in the 2015 financial year.
Satterley, who launched three major land developments in Melbourne’s west and south-east last October, now command 8% of Melbourne’s total land sales.
They are closing in on their goal of attaining 10% of the Victorian land market, the expansion plans <a href="/news/vic/satterley-property-group-looking-to-nearly-triple-land-sales-with-two-new-estates">outlined in a earlier Property Observer article</a>.
The group is Australia’s largest privately owned developer headed in Victoria by general manager, Jack Hoffmann (pictured below) who said successful launches of<a href="https://satterley.com.au/point-cook/" target="_blank"> Upper Point Cook</a> (Point Cook, pictured above) and Habitat on Davis Creek (Tarneit) had underpinned the strong performance.
"Two-thirds of our buyers at Upper Point Cook are upgraders that live in neighbouring areas, with the remainder of buyers largely consisting of investors and first homebuyers.
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“The big selling point for local residents is you’re buying into a quality development, with a range of housing options and there’s the added bonus of access to the Princes Freeway via the future diamond interchange at Sneydes Road,” he said.
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Satterley's expansion includes the recent acquisition of an 1800-lot community on 127 hectares in Officer. 
<img src="/images/2015/03/19/sat%20mar%2019%20one.jpg" alt="">
Photo: Supplied. 
“Across Melbourne all of our developments are performing well,” said Hoffman.
“Upper Point Cook which consists of 2,000-lots is currently the second fastest selling development in Melbourne with our first neighbourhood at Upper Point Cook close to selling out six months ahead of schedule.”
Its launch of the second neighbourhood at Upper Point Cook will be 230 lots, in the Point Cook precinct which leads Melbourne as the most popular suburb for newly released land. 
“Each stage release at Upper Point Cook has had ‘campouts’ of prospective buyers wanting to ensure they don’t miss out on their chance and at the project’s launch we had up to 30 buyers camping overnight to ensure they didn’t miss out on the first land released,” he said.
Satterley’s Melbourne portfolio kick off with an urban infill project at the old Kodak factory site in Coburg North in 2011. 
The project is nearing completion, with around 80 townhouses remaining.
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No photo finish required as Satterley secures its expanded Victorian land offerings

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It's a real choice for hotel investors currently across the bay in Melbourne.
But Sorrento or Queenscliff?
The Queenscliff Hotel has been relisted for sale, with a private auction scheduled for this Friday, 20 March.
The Continental Hotel at Sorrento has been listed by the Di Pietro family with offers due 16 April.
Our property contrarians Jonathan Chancellor and Margie Blok debate the merits of the two hotels on opposite side of The Heads, yet only 12 kilometres apart.
HE SAID:<img src="/images/stories/2013/09/06/jc-silhouette-5.jpg" alt="jc-silhouette-5" width="130" height="195" style="float: right;">
It's the <a href="https://www.abercrombys.com.au/queenscliff-queenscliff-hotel-16-gellibrand-street-ab2974/" target="_blank">striking 1887 Queen Anne-style building</a> (pictured above) for me. If only for the special occasion memories held from when the late Mietta O'Donnell ran the hotel as a fine dining destination between 1978 and 1983. Admitting it wasn't as regular haunt as her ornate Alfred Place institution in the laneway off Collins Street at the business end of town.
Queenscliff became a significant tourist destination in the late 19th century with holiday-makers taking a two hour paddle steamer journey from Melbourne. 
Andrew Harlock and Tim Derham at Abercromby’s are selling the property on a walk-in, walk-out basis, with initial expectations at $3.5 million plus.
The hotel is still taking guests, but the restaurant served its last meals on Christmas Day, following the death of owner Johann Schuetz who with his wife, Theresa bought the property in 2002.
The 1887 built Queenscliff Hotel on the western tip of Port Phillip bay was designed by Melbourne architects Reed, Henderson &amp; Smart, the same architects responsible for the State Library of Victoria, Collins Street Baptist Church, Melbourne Trades Hall and a number of Melbourne university buildings.
It was built by NW Frogley in the English Queen Anne style for Martha Nugent and Joseph Goslin, wealthy local citizens at the time.
Heritage documents describe its polygonal tower, with its coned roof and bellcast profile and gables, as a reflection of northern European Renaissance architecture, particularly from countries as such France and the Netherlands.
Ofcourse while I adore limestone bathrooms, a little bit of Tudor-style woodwork and elaborate fretwork, turrets and towers with conical or pyramid-shaped roofs are always of acute interest.
I fell in love with Queen Anne over champers at the first Queen Anne house in Australia, Caerleon in the suburb of Bellevue Hill.
The Schuetz family acquired the property in 2002 from restaurateur Patricia O’Donnell, sister of the late Mietta O'Donnell. Schuetz offered the hotel in 2010 attracting offers close to $4 million.
<img src="/images/stories/2013/09/06/mb-silhouette-4.jpg" alt="mb-silhouette-4" width="130" height="195" style="float: left;">SHE SAID:
Coming from Sydney, it has to be the limestone Sorrento Contintental Hotel for me. NSW just doesn't see enough limestone or bluestone, just plenty of sandstone.
It was the pioneer thespian and entrepreneur George Coppin who built the mansard-capped hotel in the 1870s, the four storey limestone building <a href="https://www.continentalhotel.com.au/History.htm" target="_blank">The "Conti"</a> (pictured below). Jonathan can have his fusty selection.
<img src="/images/2015/03/11/sorernto-march-11-one.jpg">
The seaside spruiker shipped wealthy Melburnians to the Mornington Peninsula on his paddle steamers, and then put them on his tramway to stay at his Hotel Continental.
I love being close to the golf course.
It had been on the toss of a coin - a choice between Australia and America - that Coppin sailed from Sussex on the Templar, arriving in Sydney in 1843 with his partner, Maria Watkins Burroughs, where he was to perform at the Royal Victoria Theatre on Pitt Street.
Coppin briefly owned the Clown Hotel, directly opposite the theatre, which failed as Sydney's first permanent musical entertainment venue, before he moved south to Melbourne.
The Continental Hotel at Sorrento has been listed for sale by the Di Pietro family with $15 million expectations.
The hotel will be sold with freehold and business with offers due 16 April through Sothebys International agent Rob Curtain, in conjunction with CBRE.
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He Said/She Said: Queenscliff Hotel or Sorrento's Continental? 

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Two homes, just a kilometre apart, in Aireys Inlet are among this year's Easter auction offerings.
The double storey home with ocean views in Fairhaven will be auctioned on Sunday 5 April.
Set on a 920 square metre parcel, the home perched atop a cliff has views of a 6 kilometre stretch of Fairhaven beach. The three bedroom house, renovated in 2010, has direct beach access. Natural materials feature prominently, with timber cladding, columns and ceilings.
Agents Marty Maher and Mim Atkinson of Great Ocean Properties Aireys Inlet are expecting $2.75 million to $3 million for <a href="https://www.realestateview.com.au/Real-Estate/26-lialeeta-road-fairhaven/Property-Details-buy-residential-8401114" target="_blank">26 Lialeeta Road</a> (pictured above).
Nearby <a href="https://www.realestateview.com.au/Real-Estate/8-river-reserve-road-aireys-inlet/Property-Details-buy-residential-8145724" target="_blank">8 River Reserve Road in Aireys Inlet</a> (pictured below) will be auctioned the day before by the same agents, on 4 Saturday April.
<img src="/images/2015/03/16/aireys%20inlety%20march%2016%20one.jpg" alt="">
The distinctive house is marked by a glass atrium at the entrance, which holds a spiral staircase leading up to the upper level and the rooftop terrace. The four bedroom, four bathroom house includes a gas open fire and views over the river valley.
It comes with $950,000 to $1 million price expectations.
Victoria's coastal Easter long weekend auctions aren't restricted to Aireys Inlet. <a href="https://www.realestateview.com.au/Real-Estate/148-150-back-beach-road-portsea/Property-Details-buy-residential-8445140" target="_blank">148-150 Back Beach Road in Portsea</a> (pictured below), a five bedroom home, will be auctioned on Sunday 5 March.
<img src="/images/2015/03/16/portsea%20%20march%2016%20one.jpg" alt="">
Known as Lido, the two storey house and its gardens span two titles at 1,500 square metres, with views over Port Philip Bay. The house with a pool is mareted by Kay and Burton agents Liz Jensen and Linda Boulter.
Jensen is also marketing <a href="https://www.realestateview.com.au/Real-Estate/4-benjamin-parade-blairgowrie/Property-Details-buy-residential-8444826" target="_blank">4 Benjamin Parade in Blaigowrie</a>, which is to be auctioned an hour later, with David Heathcote.
While some vendors have chosen to take their homes to auction on the traditionally quiet Easter weekend, it seems the bulk of Victoria's coastal auctions will occur the weekend after. The second weekend of April will see Sorrento's <a href="https://www.realestateview.com.au/Real-Estate/3492-point-nepean-road-sorrento/Property-Details-buy-residential-8481806" target="_blank">3492 Point Nepean Road</a> (pictured below) go under the hammer through Max Prentice of Prentice Real Estate in conjunction with Hodges' Andrew Boyce.
<img src="/images/2015/03/16/sorrento%20mar%2016%20two.jpg" alt="">
The two cliffside allotments will be offered through executor's auction. Lot 2, which is accessed through Netley Avenue, is 1,592 square metres. Lot 3 is 2,789 square metres, and accessible from Point Nepean Road.
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Two Aireys Inlet homes among coastal Victorian Easter auctions

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The Continental Hotel at Sorrento has been listed for sale by the Di Pietro family with $15 million expectations.
The four storey limestone building sits on a 3,580 square metre holding. 
<a href="https://www.continentalhotel.com.au/History.htm" target="_blank">The "Conti"</a> stands tall at its hillside 1-21 Ocean Beach Road position.
The hotel will be sold with freehold and business with offers due 16 April through Sothebys International agent Rob Curtain, in conjunction with CBRE.
The pioneer thespian and entrepreneur George Coppin built the mansard-capped hotel in the 1870s. The seaside spruiker shipped wealthy Melburnians to the Mornington Peninsula on his paddle steamers, and then put them on his tramway to stay at his Hotel Continental.
In 1890 the hotel was bought by Isaac Edward Bensilum for £6,000, the original cost of the hotel being £14,000.  
Bensilum who ran the hotel with his wife Nellie, built The Athenaeum in 1894.  
Owners and Licensees:
<table style="width: 460px; height: 247px;" border="4" cellspacing="0" cellpadding="10" align="center"><tbody>
<tr>
<td bgcolor="#ffffff">
1875 – 1890 
</td>
<td bgcolor="#ffffff">
George Coppin – licensee John Crawford 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1890 – 1913 
</td>
<td bgcolor="#ffffff">
Isaac Edward Bensilum 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1913 – 1921 
</td>
<td bgcolor="#ffffff">
T E Hawkins 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1921 – 1923 
</td>
<td bgcolor="#ffffff">
L Fitzgerald 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1923 – 1953 
</td>
<td bgcolor="#ffffff">
L De Vine 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1953 – 1960? 
</td>
<td bgcolor="#ffffff">
N &amp; G Fernhead 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1960 - 1990 
</td>
<td bgcolor="#ffffff">
tbc 
</td>
</tr>
<tr>
<td bgcolor="#ffffff">
1996 - current 
</td>
<td bgcolor="#ffffff">
 Di Pietro Family
</td>
</tr>
</tbody></table>
Source: The Continental Hotel
It was on the toss of a coin - a choice between Australia and America - that Coppin sailed from Sussex on the Templar, arriving in Sydney in 1843 with his partner, Maria Watkins Burroughs, where he was to perform at the Royal Victoria Theatre on Pitt Street.
Coppin briefly owned the Clown Hotel, directly opposite the theatre, which failed as Sydney's first permanent musical entertainment venue, before he moved south.
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