<p data-end="568" data-start="388">Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.</p>

<p data-end="803" data-start="570">Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.</p>

<p data-end="1041" data-start="805">The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.</p>

<p data-end="1239" data-start="1043"><a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.</p>

<p data-end="1239" data-start="1043">[smartcode_project:default project_id=114246 project_image_fid=378718]</p>

<p data-end="1459" data-start="1241">Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.</p>

<p data-end="1582" data-start="1461">Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.</p>

<p data-end="1777" data-start="1584">"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.</p>

<p data-end="2018" data-start="1779">"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.</p>

<p data-end="2245" data-start="2020">"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."</p>

<p data-end="2245" data-start="2020">[smartcode_project:default project_id=114246 project_image_fid=378713]</p>

<p data-end="2438" data-start="2247">A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.</p>

<p data-end="2577" data-start="2440">Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.</p>

<p data-end="2772" data-start="2579">The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.</p>

<p data-end="2245" data-start="2020">[smartcode_project:default project_id=114246 project_image_fid=378720]</p>

<p data-end="2245" data-start="2020">Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.</p>

<p data-end="2996" data-start="2932">"The penthouse is a serene study in quiet luxury," Freeman said.</p>

<p data-end="3264" data-start="2998">"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."</p>

<p data-end="3384" data-start="3266">Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.</p>

<p data-end="3531" data-start="3386">"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.</p>

<p data-end="3823" data-start="3533">"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."</p>

<p data-end="3823" data-start="3533">[smartcode_project:default project_id=114246 project_image_fid=378694]</p>

<p data-end="3986" data-start="3825">Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.</p>

<p data-end="4199" data-start="3988">Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.</p>

<p data-end="4370" data-start="4201">Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.</p>

<p data-end="4516" data-start="4372">"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.</p>

<p data-end="4717" data-start="4518">"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.</p>

<p data-end="4883" data-start="4719">"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."</p>

<p data-end="4947" data-start="4885">The penthouse will be exclusively marketed by SRM Residential.</p>

<p data-end="4947" data-start="4885">[smartcode_project_cta:default project_id=114246]</p>


Joel Robinson

Abadeen unveils penthouse at Park Residences in Cremorne

<p>New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.</p>

<p><a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.</p>

<p>The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.</p>

<p>Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.</p>

<p>[smartcode_project:default project_id=149951 project_image_fid=377072]</p>

<p>Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.</p>

<p>Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.</p>

<p>“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.</p>

<p>“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”</p>

<p>The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.</p>

<p><img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" /></p>

<p>Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.</p>

<p>Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.</p>

<p>Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.</p>

<p>“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.</p>

<p>“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”</p>

<p>“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”</p>

<p><img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" /></p>

<p>Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.</p>

<p>It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.</p>

<p>Cottee said Marrone represented the first stage of the group's longer-term plans for the area.</p>

<p>Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.</p>

<p>Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.</p>


Dalcott targets owner-occupiers with South Brisbane debut Marrone

<p>Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.</p>

<p>Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.</p>

<p>Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.</p>

<p><img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" /></p>

<p>Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.</p>

<p>The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.</p>

<p>The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.</p>

<p>Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.</p>

<p>The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.</p>

<p><img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" /></p>

<p>Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.</p>

<p>The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.</p>

<p>A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.</p>

<p>Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.</p>

<p>A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.</p>

<p><img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." /></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.</p>

<p>Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.</p>

<p>The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.</p>


First look: New apartment tower pitched for Strathfield Town Centre precinct

<p>An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.</p>

<p>Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.</p>

<p>Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.</p>

<p>The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.</p>

<p>[smartcode_project:default project_id=95606 project_image_fid=378731]</p>

<p>All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.</p>

<p>The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.</p>

<p>[smartcode_project:default project_id=95606 project_image_fid=378732]</p>

<p>A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.</p>

<p>OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.</p>

<p>“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.</p>

<p>“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”</p>

<p>[smartcode_project:default project_id=95606 project_image_fid=378736]</p>

<p>La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.</p>

<p>ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.</p>

<p>“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.</p>

<p>“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”</p>

<p>Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.</p>

<p>“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.</p>

<p>“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”</p>

<p>The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.</p>

<p>[smartcode_project:default project_id=95606 project_image_fid=378734]</p>

<p>Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.</p>

<p>The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.</p>

<p>Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.</p>

<p>The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.</p>

<p>Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.</p>

<p>[smartcode_project_cta:default project_id=95606]</p>


ODUS releases $18 million penthouse crowning La Mer Main Beach

<p><a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.</p>

<p>Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.</p>

<p>The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.</p>

<p>[smartcode_project:default project_id=509 project_image_fid=365685]</p>

<p>"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.</p>

<p>Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.</p>

<p>"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."</p>

<p>[smartcode_project:default project_id=509 project_image_fid=368869]</p>

<p>That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.</p>

<p>Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.</p>

<p>Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.</p>

<p>[smartcode_project:default project_id=509 project_image_fid=365689]</p>

<p>Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.</p>

<p>They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.</p>

<p>The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.</p>

<p>"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.</p>

<p>[smartcode_project:default project_id=509 project_image_fid=368872]</p>

<p>The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.</p>

<p>With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.</p>

<p>A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.</p>

<p>Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.</p>

<p>[smartcode_project_cta:default project_id=509]</p>


Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

Victoria

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<p>As the Melbourne market gradually winds down, locations in regional Victoria are rising. Regional cities and towns within striking distance of the state capital in particular are travelling well.</p>
<p>There are conflicting views about whether Melbourne has passed its peak or whether it’s still booming.</p>
<p>My research indicates the city’s market has undoubtedly passed the peak in its cycle, with a significant reduction in sales activity since the start of the year. The markets that showed exceptional price growth in the past 12-18 months, particularly middle market suburbs, are no longer growing.</p>
<p>There are still some good sales happening, caused partly by a shortage of listings, which is helping to keep prices strong in selected locations. But the market that existed in 2014 and 2015, with sales activity rising strongly and prices achieving double-digit annual rises in many areas, is no longer happening.</p>
<p>But regional markets close to Melbourne are rising. I have written in the recent past about the City of Greater Geelong, which is now the strongest market in the state.</p>
<p>Bendigo and Ballarat, both strong regional economies close to the state capital, are solid markets with steady price growth.</p>
<p>In between those cities and Melbourne, there are two municipalities which have caught the wave from Melbourne and grabbed the attention of people seeking an affordable lifestyle just outside the city.</p>
<p>These are Macedon Ranges Shire and Mitchell Shire. In a July column I touched briefly on these places in discussing state government population projections.</p>
<p>Macedon Ranges is expected to grow its population 25 percent over the next 15 years. But the municipality likely to see the most dramatic increase in population is Mitchell Shire, which is forecast to more than double its population from 40,000 in 2016 to 81,500 in 2031.</p>
<p>This will make Mitchell Shire - a little north of Melbourne, including towns such as Kilmore, Seymour, Broadford and Wallan - the fastest-growing area in the state.</p>
<p>In the next 20 years Wallan (which is about 60km from the Melbourne CBD) is projected to grow from 11,000 to 31,000, while the village of Beveridge is forecast to explode from the current 1,700 to 21,000.</p>
<p>The towns of Macedon Ranges have already experienced substantial price growth. Towns with big increases in median prices in the past 12 months include Gisborne (up 11 percent), Riddells Creek (up 14 percent), Macedon (up 30 percent) and Mt Macedon (up 18 percent). The median house price for Macedon has risen from $530,000 to $685,000 in 12 months.</p>
<p>Now we’re seeing the towns of Mitchell Shire starting to move. The attractions are affordability relative to Melbourne; a relaxed country lifestyle; and proximity to Melbourne with good road and rail links. It’s feasible to live there while commuting to jobs in Melbourne (keeping in mind that most Melbourne jobs are NOT in the CBD – many of them are in the northern suburbs).</p>
<p>Median house prices include $350,000 in Kilmore, $240,000 in Seymour, $285,000 in Broadford and $380,000 in Wallan.</p>
<p>To date price growth has been moderate – around 5-6% in the past 12 months – but more is expected in the near future.</p>
<p class="Body"><em>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em></p>
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terryryder-YECXbqmri2

Forget Melbourne, the regions are Victoria's rising property hotspots 

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<p>The asking price of the Muckleford, Victoria property with a green-and-yellow W-class tram as its centrepiece, has been reduced to $410,000.</p>
<p>The three-bedroom, one-bathroom home, <a href="https://www.domain.com.au/property/for-sale/house/vic/muckleford/?adid=2011451303" target="_blank">10 A Frame Track, Muckleford</a>, had been initially marketed at $439,000.</p>
<p>Set on 20 acres, 130 kilometres north-west of the CBD, the home has been fashioned around the tram including mud brick sections.</p>
<div id="conditionalAd-300x250-pos-3">
<div id="google_ads_iframe_/6411/WATODAY/domain/realestatenews_13__container__"> The tram has been renovated to include multi-functional bedroom-study-living areas as well as a kitchen and dining area. </div>
</div>
<p>The trams were produced between 1923 and 1956 by the Melbourne and Metropolitan Tramways Board. </p>
<p>Owner Gary Markoff paid about $1000 to buy the decommissioned vehicle and haul it to the country about 35 years ago.</p>
<p>Cantwell Property, Castlemaine, agent Genevieve Cantwell, is selling the home.</p>
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jchancellor-FAypfDUnLy

Tram fare price at Muckleford comes down to $410,000

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<p class="Body">From a first home buyer perspective, there is something very wrong with the housing market in Victoria.</p>
<p class="Body">In February, the most recent data available from the Australian Bureau of Statistics (ABS) showed that the total number of dwellings financed for first home buyers had sunk to a 23 year low.</p>
<p class="Body">In February there were 1,402 dwellings financed for first home buyers which  represented a mere 11.76% of the entire number financed. This was lower than in January when first home buyers represented 12.7% of the market and the lowest in raw terms since July 1991 when the population of Victoria was 31% less than it is today.</p>
<p class="Body">The reasons behind  this result are debatable. Some will say that the causes are high property prices, but this alone is not borne out by the data. When home values last peaked, in October of 2010, the proportion of first home buyers was 18.2%. In real terms, prices are not significantly different at this point which suggests that the problem is not entirely the price.</p>
<p class="Body">Others point to the fact that rents are not rising and suggest that intending first home buyers are preferring to rent.</p>
<p class="Body">Another perspective is that the change to financial assistance for first home buyers has caused many to not enter the market. At the same time as the large step down in the proportion of first home buyers occurred in the middle of last year, the $7,000 First Home Buyer Grant for established homes came to an end.  This alone cannot be the only issue as at the same time stamp duty was being progressively lowered for first home buyers.</p>
<p class="Body">The reasoning for this change in the market is probably a combination of all  issues mentioned and if the market  remains this way, it will represent a significant structural change in the local housing market.</p>
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First home buyers in Victoria lowest in 23 years

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<p>EXPERT OBSERVER</p>
<p>Brisbane's once-rampant apartment construction has now righted itself, and indeed median unit prices were up a fraction over the past year in the Queensland capital. </p>
<div id="post-body-1517642067810614857" class="post-body entry-content">
<div>Victoria's apartment construction on the other hand has exploded to a record high (as expected from leading indicators), with the value of work done an astronomical 416 per cent higher than a decade earlier in chain volume measures terms. </div>
<div> </div>
<div>Sydney doesn't build so many houses, so a lot of activity is expected, but for Melbourne this is a boom-and-a-half!</div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-j-L_Si8xu3M/W3zV5ZRFWuI/AAAAAAAArog/JQ9WfQ2ltJABfVf3KSePDeXcpAOZ8GZEQCLcBGAs/s1600/A1.jpg"><img src="https://1.bp.blogspot.com/-j-L_Si8xu3M/W3zV5ZRFWuI/AAAAAAAArog/JQ9WfQ2ltJABfVf3KSePDeXcpAOZ8GZEQCLcBGAs/s640/A1.jpg" width="640" height="376" data-original-height="800" data-original-width="1361"></a></div>
<div>
<br><div class="separator"> </div>
<br>It's an everything boom for Victorian construction with public and engineering works also going on a tear. </div>
<div> </div>
<div>Queensland engineering construction is also finally on the rise again after the state's multi-year downturn. </div>
<br><div class="separator"><a href="https://3.bp.blogspot.com/-hFMjIc58GKQ/W3zV5oAN67I/AAAAAAAArok/mtjusxcoA6AQzd36njWtlrRemzlXTHvYQCLcBGAs/s1600/A2.jpg"><img src="https://3.bp.blogspot.com/-hFMjIc58GKQ/W3zV5oAN67I/AAAAAAAArok/mtjusxcoA6AQzd36njWtlrRemzlXTHvYQCLcBGAs/s640/A2.jpg" width="640" height="374" data-original-height="803" data-original-width="1368"></a></div>
<br><div>Adding in detached housing construction, Victoria's construction super-boom over 16 consecutive quarters and counting helped to increase total work done nationally in the second quarter by 1.6 per cent in seasonally adjusted terms. </div>
<div> </div>
<div>Eight consecutive quarterly increases in South Australia have also helped to offset the resources and housing construction weakness in Western Australia.<br><br>Construction work in New South Wales is set to top out now as apartment starts decline. </div>
<div> </div>
<div class="separator"><a href="https://4.bp.blogspot.com/-bkIHZFhTWcQ/W3zV5bE5mEI/AAAAAAAAroo/spw4riVZh3gpMf1FKh89PGOaA16E0CoqACLcBGAs/s1600/A3.jpg"><img src="https://4.bp.blogspot.com/-bkIHZFhTWcQ/W3zV5bE5mEI/AAAAAAAAroo/spw4riVZh3gpMf1FKh89PGOaA16E0CoqACLcBGAs/s640/A3.jpg" width="640" height="376" data-original-height="806" data-original-width="1371"></a></div>
<br><div><strong>Job ads stalling</strong></div>
<div> </div>
<div>In other news skilled job vacancies were up by 4.7 per cent from a year earlier to be 30.5 per cent above the October 2013 nadir in July 2018, according to the latest Department of Employment figures. </div>
<div> </div>
<div>The seasonally adjusted monthly result was up just a notch following three consecutive declines. </div>
<div> </div>
<div>Unsurprisingly Victoria scored well here too, with falling unemployment looking like a shoo-in for Melbourne. </div>
<br><div class="separator"><a href="https://3.bp.blogspot.com/-oDN5Lkggpdk/W3zV6M2hRaI/AAAAAAAAros/hdUwylmO0ccmBenJN0Gi8BlEILu59fHKQCLcBGAs/s1600/DoE.jpg"><img src="https://3.bp.blogspot.com/-oDN5Lkggpdk/W3zV6M2hRaI/AAAAAAAAros/hdUwylmO0ccmBenJN0Gi8BlEILu59fHKQCLcBGAs/s640/DoE.jpg" width="640" height="368" data-original-height="793" data-original-width="1374"></a></div>
<br><div>In Western Australia vacancies were up 16.3 per cent over the past year, pointing to brighter days ahead across the Nullarbor.<br><br>Nationally, though, the growth in job ads seems to have stalled, with an election to follow - and that rarely inspires confidence in employers.</div>
<div><em> </em></div>
<div><em>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em></div>
</div>
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Victoria's everything boom: Pete Wargent

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<p>With the vast majority of homes sold in the last financial year now settled, it is possible to calculate some of the key numbers in the Ballarat market.</p>
<p>Over the year a total of $639 million was spent on houses in the City of Ballarat and $68 million on units across 1,942 house sales and 281 unit sales. There were 12 million dollar house sales – the median value of a house was $301,001. The median house value rose by 7.1% compared to 7.9% in Melbourne</p>
<p><strong>Largest growth in median house values by suburb:</strong></p>
<ul>
<li>Golden Point</li>
<li>Soldiers Hill</li>
<li>Black Hill</li>
<li>Redan</li>
<li>Mount Pleasant</li>
</ul>
<p><strong>Most house sales by suburb</strong></p>
<ul>
<li>Wendouree</li>
<li>Sebastopol</li>
<li>Alfredton</li>
<li>Ballarat East</li>
<li>Delacombe</li>
</ul>
<p><strong>Most expensive suburbs by median house values</strong></p>
<ul>
<li> Lake Wendouree</li>
<li>Lake Gardens</li>
<li>Invermay Park</li>
<li>Mount Helen</li>
<li>Buninyong</li>
</ul>
<p><strong>Most affordable suburbs by median house values</strong></p>
<ul>
<li>Sebastopol</li>
<li>Wendouree</li>
<li>Redan Mount Pleasant</li>
<li>Ballarat East</li>
</ul>
<p><strong>Highest spend on houses</strong></p>
<ul>
<li>Alfredton ($64 million)</li>
<li>Wendouree ($48 million)</li>
<li>Sebastopol ($42 million)</li>
<li>Ballarat Central ($41 million)</li>
<li>Lake Wendouree ($40 million)</li>
</ul>
<p><strong>Suburbs with million dollar house sales</strong></p>
<ul>
<li>Lake Wendouree</li>
<li>Ballarat Central</li>
<li>Newington</li>
</ul>
<p><strong>Suburbs with the highest proportion of houses advertised for sale:</strong></p>
<ul>
<li>Ballarat Central</li>
<li>Miners Rest</li>
<li>Alfredton</li>
<li>Mount Clear</li>
<li>Newington</li>
</ul>
<p> </p>
<p> </p>
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Top 5 for Ballarat residential real estate sales during 2013-2014 financial year

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<div id="post-body-1941822993323597666" class="post-body entry-content">
<div>The Victorian State Government released an interesting document showing some of the key trends in Victoria's population and household projections out to 2051.</div>
<div> </div>
<div>One of the most notable trends is that Greater Melbourne is attracting younger and aspirational folk.</div>
<br><div class="separator"><a href="/images/2016/07/19/VIC2.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/07/19/VIC2.jpg" alt=""></div>
<br><div><em><span style="text-decoration: underline;">Source: DELWP</span></em></div>
<div> </div>
<div>The projections out to 2051 show Greater Melbourne's population exploding to well beyond 8 million, while the regional population growth figures project only a moderate increase. </div>
<br><div class="separator"><a href="/images/2016/07/19/VIC.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/07/19/VIC.jpg" alt=""></div>
<br><div>If anything, these regional figures look to be potentially overcooked to me, given that they project an ongoing strengthening in population growth despite there being any number of rural areas where the population is actually in decline. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Long term outlook</span></strong></div>
<div> </div>
<div>One of the challenges facing property investors - and indeed nearly all investors today - is myopia. </div>
<div> </div>
<div>They tend to focus on shorter and shorter term outcomes instead of long term results. </div>
<div> </div>
<div>And given that we are on average living much longer today, almost all of us should be focusing on longer time horizons for investment. </div>
<div> </div>
<div>To explain what I mean, the below figures show the projected population growth over the four decades to the middle of the century.</div>
<div> </div>
<div>The population of Greater Melbourne is projected to expand hugely by 3,854,700 over that time to a total of 8,024,000, accounting for 85 per cent of the growth.</div>
<br><div class="separator"><a href="/images/2016/07/19/VIC3.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/07/19/VIC3.jpg" alt=""></div>
<br><div>Geelong, which is located very close to the south-western edge of Greater Melbourne, is also expected to grow by 229,000 persons, accounting for 5 per cent of the growth. </div>
<div> </div>
<div>Everywhere else, over time there is going to be less upwards pressure on land values. </div>
<div> </div>
<div>Partly that's because smaller cities have more land available for release, acting as a safety valve on rising land prices.<br><br>And partly it's because absolute regional population growth just won't be very big, even if these relatively bullish forecasts prove to be somewhere close to accurate. </div>
<div> </div>
<div>Similar trends are expected in other states. </div>
<div> </div>
</div>
<div class="post-footer">
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
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Victoria's population projections: Pete Wargent

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<p>There’s a growing body of research data pointing investors towards the regions.</p>
<p>A recent CoreLogic report, which compiled a Top 50 list of locations where the value of home sales had grown the most over 12 months, found that 46 of the Top 50 were regional locations.</p>
<p>Other recent research highlighted the New South Wales regional areas where price growth is now greater than Sydney’s.</p>
<p>And a report from Brisbane researcher Simon Pressley has predicted that retiring baby boomers will boost regional markets by seeking out towns and cities that offer attractive affordability and good services.</p>
<p>In addition, a State Government report has highlighted regional cities in Victoria where major population growth is expected over the next 15 years.</p>
<p>All that – and a lot more that’s out there in the way of compelling data – is significant because a lot of the simplistic price information and commentary that’s published tells investors that the capital cities are always better than the regions for capital growth. </p>
<p class="Body">This is usually generalised data which produces a single growth figure for the cities and a single growth figure for the regions. It’s quite misleading, because the regional sample includes myriad negative markets (such as resources-impacted towns and drought-affected areas) which drag down the regional average. </p>
<p>That generalised figure doesn’t really tell us anything useful and shouldn’t dissuade investors from considering regional areas – which offer plenty including lower prices and higher yields.</p>
<p>Residex data suggests that Melbourne price growth has averaged 6.9 percent per year over the past decade and regional Victoria only 4.7 percent – but does that matter if you can find a regional centre growing at 8 percent a year?</p>
<p>Right now, the most active and buoyant market in Victoria is not in Melbourne – it's the regional city of Geelong just outside the capital.</p>
<p>A new report on future population growth provides a few clues as to where investors might look for growth in Victoria. Geelong is one of the key places highlighted, alongside Bendigo and Ballarat. </p>
<p>I see all three regional centres as places worthy of consideration by investors. They all offer economic strength and diversity, affordable housing and good transport links to Melbourne, particularly since the completion of the Regional Rail Link. </p>
<p>And, according to the Department of Environment, Land, Water and Planning, all three cities can look forward to strong population growth. </p>
<p>The <em>Victoria in Future</em> report forecasts that the City of Greater Bendigo will grow 30 percent in the next 15 years, assuming current demographic, economic and social trends continue. </p>
<p>According to the report, Bendigo can expect its population to grow from 110,000 in 2016 to 145,000 in 2031.</p>
<p>ABS figures show this will be the continuation of a trend, with the population rising from 93,000 in 2005 to 108,500 at June last year.</p>
<p>Greater Bendigo, Ballarat and Greater Geelong combined are expected to provide half of all regional growth to 2031. </p>
<p>But the municipality likely to see the most dramatic increase is Mitchell Shire, which is forecast to more than double its population from 40,000 in 2016 to 81,500 in 2031. </p>
<p>This will make it the fastest-growing area and the municipality with the second-largest growth in regional Victoria behind Greater Geelong. Mitchell Shire is a little north of Melbourne and includes towns such as Kilmore, Seymour, Broadford and Wallan.</p>
<p>Another LGA getting spill-over growth north of Melbourne is Macedon Ranges, which can expect its population to grow 25 percent over the next 15 years. Macedon Ranges towns have experienced major increases in median prices in the past 12 months, including 20 percent in Gisborne, 14 percent in Riddells Creek and 25 percent in Macedon.</p>
<p>It's further evidence that there is major capital growth to be found in the regions, if you look behind the generalised data.</p>
<p><em>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em></p>
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Most active property market in Victoria is not in Melbourne: Terry Ryder

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<p>Darebin Council, comprising Melbourne’s inner-northern region, has released the city’s first good design guides, devised to help lift the standard of design by developers working in Darebin.</p>

<p>The council endorsed the guides in early September as the first local government to do so outside of the City of Melbourne.</p>

<p>City designer Munir Vahanvati led the development of the documents which clarify the Council’s expected outcomes for design in planning application, and assist planners in pre-application meetings and assessments.</p>

<p>“Planning schemes by necessity are broad and there are various ways to meet the requirements. Our Good Design Guides clarify how Council expects applicants to meet those requirements in Darebin,” he said.</p>

<p>The guides form part of the Council’s design excellence program, aimed to lift the standard of design in multiple ways and help create quality neighbourhoods.</p>

<p>“We know ensuring high quality design will create more resilient and liveable neighbourhoods. It’s not just about aesthetics, it’s about how things work and how the developments interact with their environment”, Vahanvati said.</p>

<p>Darebin is expected to see population growth of 40 per cent over the next 20 years and ensuring good design outcomes for the community is important, said Council CEO Sue Wilkinson.</p>

<p>We want our Darebin of the future to deliver on the ideals so important to us and our community. Our city needs to be sustainable, accessible and liveable, while supporting our diverse population,” she said.</p>

<p>Future guides are planned to set the standards for landscape, streetscape and environmentally sustainable design.</p>

<h2><strong>New developments in the City of Darebin </strong></h2>

<p><strong>1. Northcote Place, Northcote</strong><br>
Two-bedroom townhouses from $895,000<br>
Address: 198 Beavers Road, Northcote VIC 3070</p>

<p><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/beavers.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="435" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/beavers.jpg?itok=PXvwJwsK" width="580"></a></p>

<p>Northcote Place is located in the City of Darebin in a green location beside Merri Creek. Offering two-, three- and four-bedroom townhomes, the development is a “habitat for community-focused living”, the marketing reads.</p>

<p>Designed by ClarkeHopkinsClarke Architects and Akas Landscape Architecture, the project offers native greenery, front porches and landscaped pedestrian streets to draw residents out of their homes. The homes also include a communal garden area with alfresco entertaining space.</p>

<p><strong>2. MERRIPARK3070, Northcote</strong><br>
Two-bedroom townhouses from $995,000<br>
Address: 7/2C Summer Avenue, Northcote VIC 3070</p>

<p><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/merripark3070-7-2c-sumner-avenue-northcote-07eb6edd5b5d506eb872daa2fb67d6e0.jpg" rel="gallery-all"><img alt="" class="image-article-full-width-580px" height="315" src="/s3/files/styles/article_full_width_580px/public/pictures/article-images/merripark3070-7-2c-sumner-avenue-northcote-07eb6edd5b5d506eb872daa2fb67d6e0.jpg?itok=ITnX-MLf" width="580"></a></p>

<p>Designed by Cera Stribley, MERRIPARK3070 comprises eight two-, three- and four-bedroom townhomes across three floors. Situated within the heritage-protected Sumner Estate, the development is in close proximity to Merri Creek and cycling trails.</p>

<p>The homes offer clever storage, floor-to-ceiling windows, courtyard balconies and split-level interiors. Two-bedroom homes are listed from $995,000, and three-bedroom homes from $1.225 million.</p>
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The City of Darebin launch the Darebin Good Design Guide to improve the quality of development and create sustainable and liveable neighbourhoods

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City of Darebin sets new standard for developments

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Stamp duty concessions coming for Victorian commercial and industrial regional properties

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<p><span>Some Victorian home buyers will pay less stamp duty until June next year.</span></p>
<p><span>The Victorian State Treasurer Tim Pallas announced the cut in stamp duty would apply to home sales under $1 million only.</span></p>
<p><span>The duty will be paid at a rate of 50 per cent for new build homes and 25 per cent for existing properties, from Wednesday until the end of June 2021.</span> </p>
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span>New residential builds valued under $1 million will receive a 50 per cent waiver on stamp duty up to $27,500.</span></div>
<div class="styles__Container-sc-1ylecsg-0 goULFa"><span> </span></div>
</div>
<div class="block-content">
<div class="styles__Container-sc-1ylecsg-0 goULFa">
<span><span>Buyers on existing residential properties will secure</span></span> a 25 per cent saving of up to $13,750<span>.</span>
</div>
</div>
<p><span>The discounted rate is aimed at stimulating Victoria’s housing market after coronavirus pandemic-related restrictions.</span></p>
<p><span><span>“With a waiver on stamp duty, we’ll help more Victorians find their home and get more Victorians back to work,” Treasurer Tim Pallas said.</span></span></p>
<p>All purchases of more than $1 million will pay the full stamp duty amount. </p>
<p><span>The budget measure was part of the government’s “Big Housing Build”.</span></p>
<p>The state government forecasts an 11 per cent peak-to-trough fall in house prices, with the lowest point being next in June.</p>
<p>They forecast that prices will only recover to pre-COVID-19 levels in 2022-23.</p>
<p>The budget papers revealed a 25 per cent drop in stamp duty revenue to $4.6 billion in the 2020-21 financial year.</p>
<p>“Land transfer [stamp] duty is expected to recover from 2021-2022 and grow by an average of 15.4 per cent a year, over the forward estimates, but is not expected to reach the 2018-2019 level until 2022-23,” the budget papers stated.</p>
<p>“It’s about equity and putting the support and effort where it can best have effect,” Pallas said.</p>
<p>“The aim is to get as many people in that price bracket [$1 million] and below back into the market.”</p>
<p><span> </span></p>
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