The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 52-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 52-storey tower, which has just shy of 250 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

Joel Robinson

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Victoria

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The mid-century modernist Boyd Baker House in Bacchus Marsh has been listed for August 31 auction with $1.3 million plus price hopes.
Designed by architect Robin Boyd, the house has been listed by the lawyer Peter Mitrakas who bought the house in 2006 from the original owner, Dr Michael Baker, the academic mathematician. 
The heritage listed property located on 7.7 hectares on a large scrubby bush block surrounded by the Long Forest Conservation Reserve was commissioned by Michael and Rosemary Baker in 1964, two years after they arrived from England.
<a href="https://www.boydbakerhouse.com.au/index" target="_blank">The 1966 Long Forest Road house</a> bears Boyd signatures internal courtyard and local stone finishes. Highly geometric in its form, it is a square building with small central pond.
Andrew Macmillan of Jellis Craig Bennison Mackinnon and Kay &amp; Burton agent Alex Schiavo have the offering.
Peter and Mary Mitrakas opened it to paying guests in 2007 after paying around $1.11 million for the modernist masterpiece in 2006. 
In 2008 radio broadcaster Tim Ross wed Michelle Glew at Boyd Baker House in Bacchus Marsh, which is about 45 minutes from Melbourne.
There is the adjoining dower house, on 4.6 hectares which traded at $555,000 in 2006, which will be also offered to the buyer.
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The Baker House group comprises three buildings designed by architects Robin Boyd and Roy Grounds. The Baker House (1966) and the dower house, also known as the Elizabeth Sticklen House (1968) were designed by Boyd and the library, built during the 1970s, was designed by Roy Grounds.  
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jchancellor-FAypfDUnLy

Modernist Boyd Baker, Bacchus Marsh masterpiece listed

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Lagoona Park, the Victorian rural property where the Poseidon gold nugget was discovered, has been listed for sale.
There are $4.5 million hopes for the 914-hectare property in Newbridge in the Loddon Shire in central Victoria.
It has been listed by Colin Harris, whose family established the well-known Gloroy Poll Dorset sheep stud in 1956. 
The 30 lot Lagoona Park auction is scheduled for August 14 <a href="https://www.eldersrealestate.com.au/rural/buy/property-mixed-farming-vic-newbridge-587295" target="_blank">through Martin Skahill of Elders Real Estate</a> possibly in four separate offerings, ranging in size from 170 hectares to 312 hectares.
Martin Skahill is marketing the property as the home of the nugget, on the Lot 2 Rumbolds 180 hectare portion.
The Loddon River runs through the property which is suited to cropping, meat and wool production or as a stud farm.
Lagoona Park is less than two hours from Melbourne and 30 minutes from Bendigo. 
The nugget was <a href="https://www.tarnagulla.org/photogallery/gallery3/index.php/mining/nugget2" target="_blank">discovered on Melbourne Cup Day in 1906</a>.
The famous Poseidon nugget, weighing 26.6 kilograms (860 ozt) was found in 1906 after interest in alluvial mining was renewed when Jack Porer discovered the Poseidon field at Tarnagulla. The nugget was named after the racehorse Poseidon, winner of the 1906 Caulfield Cup, Victoria Derby and Melbourne Cup.
A replica of the nugget, worth about $1.3 million at current prices, is on display at Museum Victoria.
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Golden nugget farm Lagoona Park listed sans Poseidon gold nugget

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Craigieburn was the outer Melbourne suburb with the most auctions in the first six months of this year.
There were 107 auction offerings with a subsequent 71% success rate under the hammer, according to the Real Estate Institute of Victoria.
"It did not even make it into the top 10 last year," the REIV chief Enzo Raimondo said.
Craigieburn is 26 kms north of Melbourne's central business district, in the local government area of the City of Hume.
There were three on the weekend, with two passed in, with a $380,000 pre-auction sale of 6 Tusmore Rise (pictured above). 
TOP 10 HIGHEST NUMBER OF AUCTIONS MELBOURNE OUTER SUBURBS – FIRST HALF 2014
<table style="width: 460px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap>
Suburb
</td>
<td nowrap>
Total Auction
</td>
<td nowrap>
Sold at auction
</td>
<td nowrap>
Clearance rate
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">CRAIGIEBURN</a>
</td>
<td nowrap>
107
</td>
<td nowrap>
76
</td>
<td nowrap>
71%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">WHEELERS HILL</a>
</td>
<td nowrap>
95
</td>
<td nowrap>
70
</td>
<td nowrap>
74%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">PARKDALE</a>
</td>
<td nowrap>
91
</td>
<td nowrap>
69
</td>
<td nowrap>
76%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">RINGWOOD</a>
</td>
<td nowrap>
80
</td>
<td nowrap>
66
</td>
<td nowrap>
83%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">MORNINGTON</a>
</td>
<td nowrap>
71
</td>
<td nowrap>
40
</td>
<td nowrap>
56%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">NOBLE PARK</a>
</td>
<td nowrap>
71
</td>
<td nowrap>
45
</td>
<td nowrap>
63%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">RYE</a>
</td>
<td nowrap>
68
</td>
<td nowrap>
35
</td>
<td nowrap>
52%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">MULGRAVE</a>
</td>
<td nowrap>
67
</td>
<td nowrap>
56
</td>
<td nowrap>
84%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">ROSEBUD</a>
</td>
<td nowrap>
67
</td>
<td nowrap>
36
</td>
<td nowrap>
54%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
<a href="/news">KEYSBOROUGH</a>
</td>
<td nowrap>
62
</td>
<td nowrap>
35
</td>
<td nowrap>
57%
</td>
</tr>
</tbody></table>
Source REIV
Recent results at Craigieburn included:
<img src="/images/2014/07/14/jc-july-14-one.jpg" alt="">
The REIV is expected about 540 auctions across 226 Melbourne suburbs this weekend.
There was a 74% success rate based on initial returns, up compared to 71% last weekend and 73% this weekend last year. 
"Aside from the clearance rate, the strength of demand from buyers can also be gauged from the share of homes sold before auction," REIV chief Enzo Raimondo said.
"In the year to date, about 14% of homes scheduled for auction have been sold before, which is the highest level since 2010.
"In some suburbs, such as <a href="/news">Wantirna</a>, nearly half of all homes scheduled for auction were sold beforehand," he said.
The top weekend auction locations were <a href="/news">Richmond</a> (9 auctions), <a href="/news">South Yarra</a> (9 auctions), <a href="/news">Mount Waverley</a> (8 auctions), <a href="/news">Doncaster </a>(8 auctions) and <a href="/news">Cheltenham </a>(8 auctions).
The clearance rate has been above 70% for the past four weeks, which is higher than the 10-year average of 69% for this time of year. 
Based on forward estimates, about 2,300 auctions are expected to be held in July which is higher than the decade average as auctions continue to be popular.
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Coming in from the outer, Craigieburn gets cracking with auctions

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Recent data from Fitch Ratings Agency shows that mortgage delinquencies are on the increase in Victoria. At a time when interest rates are low and house prices are generally increasing, this comes as a surprise.
Victoria as a whole has performed the worst, seeing a delinquency rate of 1.37% as of March 2014. However, it was the only state or territory to see negative performance in the year to March.
Unexpected events and costs in life, as well as changes in your situation (such as losing your job) can cause you to suddenly be unable to pay your mortgage. While Property Observer suggests that you should prepare for any eventualities – some will not until the situation comes to a missed repayment.
If you are finding yourself struggling with repayment then there are some things you can do to keep your head above water.
Firstly, this is what is likely to happen if you stop paying your mortgage.
If you miss a repayment, the first thing you’ll likely receive is notification from your lender – often in the form of a letter.
If you then fail to pay, you will likely be issued a default notice that gives you 30 days to get back up to date with your mortgage.
If you then do not pay, you may be issued a statement of claim or a summons for the debt, or repossession of your property.
After this, you will receive a legal order to take possession of your home. After this, you will then see an authority come to evict you and change your locks.
Don’t think that lenders actively enjoy putting anyone through this process, and don’t think that there’s nowhere you can go for help. As you can tell from the above, you will not be immediately pushed out of your property, however you do need to act to stop the process from happening.
Firstly, if you think you’re going to miss a repayment or if you do miss a repayment – get in touch with your lender immediately. Regular, clear communication is going to assist you with stopping the above process from occurring.
HARDSHIP VARIATIONS
If you are in difficult circumstances, and your loan is at a certain value, you may be able to apply to your lender for a hardship variation.
The government <a href="https://www.moneysmart.gov.au/managing-your-money/managing-debts/trouble-with-debt/hardship-threshold%20" target="_blank">lists what the contract value must be</a>, however if your contract was entered into on or after March 2013 you can apply for a hardship variation regardless of your loan’s value.
Essentially, your lender will vary the terms of your contract. This will make your repayments more affordable, however is likely to extend the loan term and cause more interest to be paid overall. However, this stops you losing your property – and there is the possibility of making extra payments down the track when you’re in a better situation.
Lenders should be fairly helpful with this process. If you find yourself unfairly refused a variation, contact the financial ombudsman.
Get your information organised for when you approach your lender – many of them will want to see payslips, employment letters, budget plans (for instance, this is the <a href="https://www.commbank.com.au/content/dam/commbank/about-us/who-we-are/personal-money-plan.pdf" target="_blank">Commonwealth Bank's required budget form</a>), accountant’s letter and other appropriate details to your case (for instance, a doctor’s certificate or a Centrelink statement). Financial counsellors can often speak to the bank on your behalf.
CHECK INSURANCES
If you were sick, or suddenly found yourself unemployed, had you previously taken out an insurance policy to cover this? It may be time to put in a claim to cover yourself for your mortgage if you’d sufficiently covered yourself previously. Double check your policies.
CONSOLIDATING AND REFINANCING
Consolidating and refinancing to bring down your overall repayments and to manage them can suit some, however only if you’ll pay less in fees and interest. It may only be a short-term fix, and you will still need to be able to meet the repayments, plus it may cost you more over the long-term. Watch for hidden fees and costs.
SELLING OR RENTING YOUR PROPERTY
This will not be an option for everyone, but if it’s looking as though you may not be able to afford the home, particularly in the long-term, it may be time to downsize or to look to renting. Beware; this is a costly process, so you will want to run your numbers carefully beforehand. Also remember that it can take a lengthy period of time to sell a property for a price you are happy with, and if the property has dropped in value then you will be facing debt even on the other end of the transaction.
Another alternative is to rent out a room in your house to create some additional income to assist with the repayments.
SPEAK TO AN INDEPENDENT PROFESSIONAL
There are many professionals available for free across Australia, both in terms of finance and legal assistance, that can help you if you get into hardship.
<a href="https://www.financialcounsellingaustralia.org.au%20" target="_blank">Financial counsellors </a>can provide assistance and information, while <a href="https://www.naclc.org.au" target="_blank">free legal advice</a> can assist with credit disputes and debt recovery through courts.
PLAN AHEAD
Remember, mortgage repayments are about more than just the next one coming up. You’ll need to be putting into place a forward-thinking budget and plan to ensure you’re in a comfortable situation.
The government’s Money Smart suggests avoiding borrowing more money or using credit cards, borrowing from friends or family, consolidating/refinancing if there are hidden fees and costs, switching home loans or accessing your super.
YOU MAY ALSO WANT TO READ
Divorce, death, debt and default: <a href="/guides/divorce-death-debt-and-default-six-questions-smsf-trustees-should-be-asking">Six questions SMSF trustees should be asking</a>
<a href="/expert-insights/buying/you-insure-your-home-so-why-not-your-income">You insure your home, so why not your income?</a>
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Victoria’s mortgage delinquency on the rise, how you can stay above water

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Propertylink, a Sydney-based property investment and asset management company, has bought two Victoria sites for $23.54 million.
The properties, 82 Taryn Drive, Epping, and 18-24 Ricketts Road, Mount Waverley (pictured above), were bought under their Propertylink Australian Industrial Partnership. This includes $230 million in nationwide assets.
Managing director of Propertylink, Steve Day, said that they have a track record of industrial ownership and development.
“The Epping asset features 100% occupancy from a single tenant, Stanley Black &amp; Decker, a Fortune 500 company and one of the world’s largest and most renowned provider of industrial tools, household hardware and security products,” Day said.
He notes that the asset was chosen partly due to its modern and functional style and 8.75% yield. The gross building area covers 10,500 square metres, while that of the Mount Waverley purchase covers 8,806 square metres.
“We expect yields for these types of high-quality assets to continue to tighten in the short to medium term,” he said.
Head of property at Propertylink, Peter McDonald, said that the Mount Waverley purchase is 50% office, 50% warehouse with 82% occupancy at present.
“This is located in the tightly-held prime south-east precinct of Melbourne and we see a real opportunity to bolster the property yield to around 11.5% and add value through strata sub-division,” McDonald said.
“We continue to see significant amounts of capital chasing large prime, long lease assets. However, our strategy is to look for opportunities to add value through repositioning of assets to achieve higher returns.”
They <a href="/expert-insights/investing/propertylink-adds-10-industrial-properties-to-portfolio">recently purchased 10 industrial properties from Abacus Property Group</a>, totalling $106 million.
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Propertylink adds $23.54 million of Victorian property to portfolio

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An art deco icon of the Great Ocean Road, the Lorne Theatre, sold to an anonymous buyer.
The theatre, built in 1937, was offered for the first time since it was purchased by the vendors in the 1960s, with vendors <a href="/expert-insights/buying/iconic-lorne-theatre-up-for-auction-tomorrow-with-2-5-million-plus-hopes">expecting bids over $2.5 million</a>.
Some Lorne residents have been worried that the sale will bring an end to the landmark cinema. While the theatre was on the market, a public meeting with Heritage Victoria was held to discuss potential development on the site.
Prior to the sale, selling agent Shaun Venables of Burgess Rawson told Property Observer that developers were among the potential buyers, but that most were keen to retain some aspect of the theatre’s heritage.
“Most of the developers we’ve spoken to are sympathetic to the theatre’s current use – they’re considering redevelopment, rather than development,” Venables told Property Observer.
According to Venables, the 530 seat theatre had only been filled once in the past 25 years.
The cinema’s lease is due to finish in 2016, with the operators paying $78,180 a year in rent. The 715 square metre corner site has 56 square metres of dual frontage onto the Great Ocean.
Meanwhile, another Lorne site with development potential and Great Ocean Road frontage is currently on the market.
Colliers International’s Jonathan Lumsden and Andrew Lewis are selling a 3,480 square metre site at 14-16 Great Ocean Road, a three minute drive from the Lorne Theatre.
The Residential 1 zoned plot with a 1980s style five bedroom, two bathroom house at <a href="https://www.realcommercial.com.au/property-land+development-vic-lorne-501171687" target="_blank">14-16 Great Ocean Road</a> (pictured below) will be auctioned this Saturday.
<img src="/images/2014/07/02/colliers.JPG" alt="">
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Iconic Lorne Theatre sold

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The eastern section of the East West Link has been given approval, as well as a full report of the East West Link Project Assessment Committee.
The 18-kilometre multi-billion dollar road connection looks to help with those looking to commute from the east to the west, and not into the CBD.
Planning Minister Matthew Guy called it a “critical transport connection for Victoria” that looks to improve traffic flows in the inner-north.
“The East West Link will improve transport throughout Victoria – this  vital piece of infrastructure is the missing link in our road transport  network,” said Guy.
The approval is subject to the Linking Melbourne Authority (LMA) progressing design refinements to the eastern flyover, the connection from CityLink at Parkville and the Port of Melbourne.
“I have also determined that the  Elliott Avenue interchange as proposed will not proceed and instead will  be replaced by access to Flemington Road, subject to further detailed  design work,” Guy said.
Additional plans for aspects of the project and a process for providing information to owners and occupiers of land where design refinement is occurring are being established.
“The purpose of this process is to balance project benefits with community impacts, and to work out how to minimise the impacts on the community. LMA will be required to prepare a Property Impact Report to ensure ongoing  management of the project’s impact,” he said.
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Victoria's auction clearance rates down for June: REIV

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A Georgian-inspired Toorak mansion on a 1,178 square metre block sold for $6.01 million was the weekend's highest sale in Victoria.
It was listed through Tim Derham and Jock Langley of Abercromby’s Real Estate, inconjuction with Australian Professionals Property Service, with three bidders competing at the auction. 
The initial price guidance was given as $4.5 million plus. The opening bid was $4.8 million, with the formal on the market announcement made at $5.25 million.
It offered the potential for multi-unit development subject to council approval sitting within City of Stonnington’s draft general residential zone, which allows for medium density development of up to three stories.
The five bedroom home sat at the rear of a L-shaped block at <a href="https://www.realestateview.com.au/Real-Estate/42-washington-street-toorak/Property-Details-buy-residential-7161159" target="_blank">42 Washington Street, Toorak</a> which last sold in 1976 at $212,000.
Melbourne recorded a preliminary clearance rate of 72% according to the REIV.
THE TOP 5 HOUSES
42 Washington Street, Toorak $6,010,000 
2. 13 Oxford Street, Malvern $4,225,000 
3. 9 Brynmawr Road, Camberwell $2,815,000 
4. 15 Raven Street, Kew $2,810,000 
5. 57 Athelstan Road, Camberwell $2,350,000 
CHEAPEST 5 HOUSES 
1. 127 Eighth Avenue, Rosebud $241,000 
2. 46 Booth Crescent, Dandenong North $310,000 
3. 32 Bellbird Avenue, Launching Place $310,000 
4. 5 Parkstone View, Craigieburn $340,000 
5. 17 Millstream Pass, Craigieburn $345,000 
Source: REIV
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Toorak home with medium density potential fetches $6.01 million

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There were no loss making property sales detected in just the two Melbourne, Victorian municipalities during the March quarter, according to the latest RP Data Pain and Gain report.
They were Murrindindi and Moorabool.
The highest volume of loss-taking was the 19.1% that sold for less than last time in the increasingly problematic Melbourne municipality where the typical loss was $35,000, followed by the 13.4% in the Whittlesea municipality were the typical loss was $17,500.
The biggest losses were taken in the Macedon municipality at a typical $161,500 drop.
Some 22 of the 35 municipalities secured gains well in excess of the biggest loss, with the biggest being a typical $458,000 gain Bayside and a $455,500 gain in the Manningham municipality.
Some 7.4% of Melbourne homes which re-sold over the March 2014 quarter sold at a loss, down from 9.3% at the same time a year ago but up from 6.1% the previous quarter. 
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Source: RP Data
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