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

Joel Robinson

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

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

WM Residences fills gap in Mordialloc townhouse market

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

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

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

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

NAB funds $1 billion Surfers Paradise apartment development, Palmera

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

First look: Aqualand joins St Leonards apartment party

Auctions

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Around $700,000 was being tipped for the latest offering in the 1920s Potts Point building, Gowrie Gate.
The 504/115 Macleay Street apartment boasted quality finishes along with Bridge and Opera House views.
The 54 square metres apartment was sold by Vicki Laing and Simon Polito at Laing Real Estate who secured the $797,000 under the hammer.
The apartment was <a href="https://laing.com.au/597664/" target="_blank">designed by residential </a><a href="https://laing.com.au/597664/" target="_blank">architect Daniel Boddam-Whetham</a> and was shortlisted for the 2011 RAIA Interior Architecture prize.
Its levies were administration $233 per quarter and the sinking fund at $539 per quarter.
 
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jchancellor-FAypfDUnLy

Daniel Boddam-Whetham-designed Gowrie Gate, Potts Point apartment sold

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A Hills District home on five acres has secured the highest sale of last week, according to CoreLogic RP Data.
Petalinda, selling for $9 million, is more than double the price of the next most expensive house of the week, a $4,065,000 Brighton home. The home also set a<a href="/news/glenhavens-petalinda-sets-9-million-hills-district-record"> new record price for the suburb</a>.
The week's list was dominated by Sydney homes, with just two Melbourne offerings making the top 10.
CoreLogic RP Data's top 10 sales of the week ending 14 December
<a href="https://www.realestate.com.au/property-house-nsw-glenhaven-118430299" target="_blank"><img src="/images/2014/07/04/yellow-one.jpg" alt="">6 Gilmour Close, Glenhaven, NSW</a>
<img src="/images/2014/12/16/1.jpg" alt="">
Petalinda is a six bedroom house set on five acres in the Hills District, sold through Merc Real Estate Castle Hill.
The estate includes a wine tasting cellar, a commercial grade bar, an indoor pool, a 14 person sauna, a spa, gymnasium, and a tennis court. It's not just humans who are well taken care of at Petalinda – the estate includes an aviary and a Koi Carp fish pond.
The vendors paid $5.3 million for Petalinda just three years ago.
<a href="https://www.realestate.com.au/property-house-vic-brighton-118510583" target="_blank"><img src="/images/2014/07/04/yellow-two.jpg" alt="">11a Dendy Street Brighton Vic 3186</a>
<img src="/images/2014/12/16/2.jpg" alt="">
This three level Brighton home sold for $4,065,000 through Hodges Real Estate Brighton. The five bedroom, three bathroom house has a six car garage basement. T
he house includes formal living and dining areas, a north facing family area and a lounge area. There is also a heated pool and spa on the 706 square metre plot. The vendors have held the home for 14 years, paying $1,775,000 in 2000.
<a href="https://www.realestate.com.au/property-house-vic-moonee+ponds-117594311" target="_blank"><img src="/images/2014/07/04/yellow-three.jpg" alt="">38 Ardmillan Road, Moonee Ponds, Vic</a>
<img src="/images/2014/12/16/3.jpg" alt="">
Nelson Alexander Essendon sold this six bedroom, four bathroom house for $3.95 million. The brick Victorian house sits on 2,060 square metres, with an in-ground pool and a tennis court.
Vendors paid $2.6 million for the house in February 2005.
<a href="https://www.realestate.com.au/property-unit-nsw-glebe-118492811" target="_blank"><img src="/images/2014/07/04/yellow-four.jpg" alt="">16/501 Glebe Point Road, Glebe, NSW</a>
<img src="/images/2014/12/16/4.jpg" alt="">
Buyers paid $3.66 million for this 263 square metre apartment in the Pavillions on the Bay complex. The residence was designed by Tonkin Zulaikha Greer architects (who are behind the award winning National Arboretum Canberra).
The apartment has three bedrooms and three bathrooms. The master suite includes a custom-designed dressing room and an en suite with bath.
In four years, the property's price has increased by $660,000.
<a href="https://www.realestate.com.au/property-apartment-nsw-woollahra-104930631" target="_blank"><img src="/images/2014/07/04/yellow-five.jpg" alt="">2/333 Edgecliff Road, Woollahra, NSW</a>
<img src="/images/2014/12/16/5.jpg" alt="">
This whole floor apartment sold for $3.56 million through Ray White Double Bay. The apartment is located in Cullen House, a two-apartment art deco building designed in 1936 by a protégé of Professor Leslie Wilkinson. It has four bedrooms and three bathrooms, with a northeast facing colonnaded terrace.
The property was last traded in June 2008 for $2.9 million.
This article continues on the next page. Please click below.
 
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<a href="https://www.domain.com.au/property/sold/apartment-unit-flat/nsw/millers-point/?adid=2011581948" target="_blank"><img src="/images/2014/07/04/yellow-six.jpg" alt="">19/155 Kent Street, Millers Point, NSW</a>
<img src="/images/2014/12/16/6.jpg" alt="">
Another Sydney whole-floor apartment, this home sold for a substantial sum. While the price remains undisclosed, Property Observer is advised that it makes sixth place on our list.
The residence in The Georgia, designed by Ercole Palazzetti has three bedrooms and two bathrooms, with views to the harbour and westward to the Blue Mountains. With a radial floorplan, the apartment has a private entertaining terrace and a loggia.
It last sold in 2007 for $3.4 million.
<a href="https://www.realestate.com.au/property-house-nsw-queens+park-118249395" target="_blank"><img src="/images/2014/07/04/yellow-seven.jpg" alt="">142 Denison Street, Queens Park, NSW</a>
<img src="/images/2014/12/16/7.jpg" alt="">
This six bedroom, four bathroom house sold for $3.5 million through Di Jones Real Estate. The home, near Bondi Junction, is set over two levels.
It has underfloor heating, with Bendonia tiled floors throughout the multiple living and dining areas. The vendors purchased the property 10 years ago for $1.58 million.
<a href="https://www.realestate.com.au/property-house-nsw-double+bay-118217687" target="_blank"><img src="/images/2014/07/04/yellow-eight.jpg" alt="">14 Pearce Street, Double Bay, NSW</a>
 <img src="/images/2014/12/16/8.jpg" alt="">
A newly completed house designed by Tribe Studio sold last week for $3.41 million through BradfieldCleary Double Bay. The four bedroom, two bathroom house has an open plan interior that opens to the outdoor living space. Upstairs, the master suite has a balcony overlooking the backyard.
Tribe Studio's work has been largely published. Vendors purchased the property, prior to the construction of the current house, for $2.13 million.
<a href="https://www.domain.com.au/property/sold/house/nsw/north-bondi/?adid=2011581929" target="_blank"><img src="/images/2014/07/04/yellow-nine.jpg" alt="">60 Brighton Boulevard, North Bondi, NSW</a>
<img src="/images/2014/12/16/9.jpg" alt="">
Raine &amp; Horne Double Bay secured $3.28 million for vendors at the sale of this North Bondi home. All five bedrooms have built in robes, while the master bedroom also has a private balcony and en suite.
The open plan living area opens to the rear north facing courtyard through bi-fold doors. Vendors paid $3.1 million for the house in March 2011.
<a href="https://www.realestate.com.au/property-house-nsw-st+ives-118547479" target="_blank"><img src="/images/2014/07/04/yellow-ten.jpg" alt="">39 Bundabah Avenue, St Ives, NSW</a>
<img src="/images/2014/12/16/10.jpg" alt="">
The 10th most expensive home to sell last week was a four bedroom, four bathroom house in St Ives. It sold for $2.9 million through Chadwick Real Estate St Ives.
The two storey brick residence, situated on 1,609 square metres, has a formal lounge with gas log fire, a separate dining room, an informal meals area and living room, and outdoor entertaining area. There is also an in-ground saltwater pool with spa.
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jrichardson-uRX5hFdKfN

Sydney's prestige market finishes the year on a high: Top 10 sales of the week

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Two boxes on Brighton's Dendy beach sold last weekend.
One was newly built by the local council and the other dated back to early last century.
The newly built box <a href="https://www.hockingstuart.com.au/recentlysold/BATHING_BOX_57A_DENDY_STREET_BRIGHTON_VIC_3186" target="_blank">57a</a> (pictured below) fetched $215,000 through hockingstuart after bidding from the neighbours.
<img src="/images/2014/12/16/brighton%20dec%2016%20one.jpg" alt="">
<img src="/images/2014/12/16/brighton%20dec%2016%20two.jpg" alt="">
<img src="/images/2014/12/16/brighton%20dec%2016%20three.jpg" alt="">
<img src="/images/2014/12/16/brighton%20dec%2016%20four.jpg" alt="">
Bathing box <a href="https://www.domain.com.au/property/for-sale/house/vic/brighton/?adid=2011614004" target="_blank">67</a> (pictured below), which had been in the same family for almost six decades, sold for $190,000 through Hodges.
<img src="/images/2014/12/16/brighton%20dec%2016%20second%20one.jpg" alt="">
<img src="/images/2014/12/16/brighton%20dec%2016%20second%20two.jpg" alt="">
The record for a Dendy bathing box remains $260,000.
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Old and new bathing boxes at Brighton sell

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A preliminary weighted average clearance rate of 65.2% was recorded this week across capital cities compared to 63.7% last week and 65.1% this time last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Capital-City.jpg" rel="wp-prettyPhoto[g4123]"><img src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Capital-City-580x426.jpg" alt="National Auction Comments | Capital City" width="580" height="426"></a>
The market may have cooled since the start of spring but that won’t prevent the overall clearance rate for 2014 exceeding last year. In 2013 the capital cities clearance rate was 66.2% and with one week to go this year it is 67.9%. With the exception of Melbourne and Perth the clearance rate has risen in each capital city. More people have sold more homes at auction this year.
In Sydney a preliminary clearance rate of 71.2% recorded compared to 66.1% last week and 72.2% last year. The Sydney auction market has delivered very good outcomes for sellers this year with a higher clearance rate and number of sales. The clearance rate for 2014 is likely to be close to 74.4%, higher than 72.7% last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Sydney.jpg" rel="wp-prettyPhoto[g4123]"><img class="aligncenter size-large wp-image-4125" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Sydney-580x392.jpg" alt="National Auction Comments | Sydney" width="580" height="392"></a>
In Melbourne a preliminary clearance rate of 65.9% was recorded compared to 66% last week and 64.9% this time last year. The clearance rate for 2014 is likely to be marginally lower, around 68.5%, than 2013 when it was 69.2%.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Melbourne.jpg" rel="wp-prettyPhoto[g4123]"><img class="aligncenter size-large wp-image-4126" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Melbourne-580x390.jpg" alt="National Auction Comments | Melbourne" width="580" height="390"></a>
In Brisbane a preliminary clearance rate of 47.3% was recorded compared to 39.7% last week. The overall clearance rate in Brisbane for 2014 is likely to be 45.8%, higher than 41.5% last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Brisbane.jpg" rel="wp-prettyPhoto[g4123]"><img class="aligncenter size-large wp-image-4127" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Brisbane-580x390.jpg" alt="National Auction Comments | Brisbane" width="580" height="390"></a>
In Adelaide a preliminary clearance rate of 57.5% compared to 56.6% last week. The overall clearance rate for 2014 is likely to be 61.9%, higher than 56.5% last year.
<a href="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Adelaide.jpg" rel="wp-prettyPhoto[g4123]"><img class="aligncenter size-large wp-image-4128" src="https://blog.corelogic.com.au/wp-content/uploads/2014/12/20141215-Adelaide-580x384.jpg" alt="National Auction Comments | Adelaide" width="580" height="384"></a>
In Canberra a clearance rate of 59.5% was recorded. The overall clearance rate for 2014 is likely to be 55.9%, higher than 52.3% last year.
In Perth a clearance rate of 33.3% was recorded. The overall clearance rate for 2014 is likely to be 41.1%, lower than 46.5% last year.
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rlarocca-zWhvjay44N

Sydney auction market has delivered very good outcomes for sellers this year: National auction wrap

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As the final round of properties for the year go under the hammer this weekend, RP Data figures show more people have sold more homes at auction this year than in 2013.
While the market has cooled in the latter half of 2014, the capital city clearance rate will exceed last year, currently sitting at 68% with one week to go, compared to 66.2% last year. RP Data shows the clearance rate has risen in each capital city, with the exception of Melbourne and Perth.
It was <a href="https://www.smartcompany.com.au/finance/investment/34971-property-market-forecasts-for-2014">forecast the market would show a little bit of sanity</a> this year compared to the strength of 2013 and it certainly has shown more moderate growth, says RP Data housing market specialist Robert Larocca.
“It has certainly been a good year,” says Larocca. “The high volumes are proof the market is going strongly and there has been a shift in sales method towards auctions.”
Larocca says different auction markets have performed differently throughout the country, with the most notable contrast between Australia’s two biggest auction cities.
“Sydney led the pack and produced the best results with an unprecedented rise in auction volumes,” he says.
“In retrospect, I think 2014 will be the year that Sydney caught up with Melbourne.”
Larocca says the raw numbers show Sydney now lists around the same number of auctions as Melbourne, where it used to list closer to half.
“It will be interesting to see in the next couple of years if there is a fundamental shift, or if the market was just strong this year and auctions were trendy,” he says.
Sydney notched a clearance rate of 71.2% on 1259 auctions at the weekend, compared to 72.2% last year. The overall clearance rate for the year will likely be close to 74.5%, according to Larocca, higher than the 72.7% recorded last year.
Larocca says while the Melbourne market has softened in recent months, that is characteristic for this time of year.
“It’s typical of a market that is performing quite moderately,” he says.
Melbourne logged a 65.9% clearance on 1,535 homes this weekend, compared to 64.9% this time last year. Larocca says the clearance rate for 2014 is likely to be marginally lower at around 68.6%, compared to 69.2% in 2013.
The overall clearance rate for Brisbane in 2014 is likely to be 45.8%, higher than 41.5% last year, while Adelaide will sit at 62%, higher than 56.5% last year.
Perth has dropped to 41.2% for 2014, lower than 46.5 % last year.
Looking forward to 2015, Larocca says much will hinge on overall economic conditions, suck as economic growth, unemployment figures and the Reserve Bank of Australia’s move on interest rates.
“We probably shouldn’t be hoping for more cuts,” he says.
“They may provide a short-term boost and make people feel good, feel as though they are paying less, but it shows the Reserve Bank is saying there are problems with the economy. The property market has performed well with higher rates in the past.”
Larocca forecasts slightly more subdued clearance rates for the start of 2015, expecting major capital cities to drop to the mid-60s.
“I think there will be a reduction in overall auctions numbers too, we won’t see the sustained growth we saw this year, reflecting the strength of the market has toned down as the year goes on,” he says.
“Overall, I think the market will be standing still until we see some stronger, positive economic signs.”
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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krobb-aCrRNnPq6D

Hammer falls on a stronger auction year than last

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Auction price secrecy in Queensland extends beyond their auctions.
Last weekend was the second batch of auction campaigns when estate agents could be fined for giving out pre-auction price estimates.
But the price details after the 167 auction offerings <a href="https://www.homepriceguide.com.au/saturday_auction_results/Brisbane.pdf" target="_blank">last</a> weekend on Sturday December 13 across Brisbane were still scant. 
Sadly, just the 54 results were reported to Australian Property Monitors in the Domain Group. There were just 17 actual prices, so full disclosure on 10% of the offerings.
The prices ranged from $270,000 for a three bedroom house at Archerfield to a $1,875,000 sale at 42 Birkalla Street, Bulimba (pictured above). The 17 results had just the one passed in price.
Last week, <a href="/news/qld/brisbane-property-price-secrecy-even-after-the-auctions">the first batch since the 1 December introduction by the Queensland Newman government</a>, had post-auction price transparency for only six of the 140 auction offerings across Brisbane.
So there was some improvement in disclosure, which can be the foundation for 2015 fuller disclosure.
Click to open in new window:
<a href="/images/2014/12/15/bris-dec-15-one.jpg" target="_blank"><img src="/images/2014/12/15/bris-dec-15-one.jpg" alt=""></a>
<a href="/images/2014/12/15/bris-dec-15-two.jpg" target="_blank"><img src="/images/2014/12/15/bris-dec-15-two.jpg" alt=""></a>
Source: Australian Property Monitors
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Auction price disclosure for just 10% of Brisbane weekend offerings

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Another near-record number of Sydney homes went under the hammer with 979 weekend auctions.
It ranked as the fourth highest day for auctions this year and the fifth highest ever.
Around 400 auctions are scheduled just five days before Christmas.
The weekend result, according to the initial Australian Property Monitors (APM) report, was 75%, with the prior weekend revised down to 65%.
The inner west hosted 172 auctions followed by the south with 141, but the busiest suburb for auctions was Blacktown in the west with 15, followed by Mosman on the lower north shore and Epping on the upper north shore each with 14.
APM had nine sales among the 10 reported results at Blacktown.
The price ranged from $497,000 for a three bedroom cottage <a href="https://www.domain.com.au/property/for-sale/house/nsw/blacktown/?adid=2011604082" target="_blank">at 41 Maloney Street</a> (pictured above) to $902,000 for a four bedroom, 10 year old home on a large 1162 square metre block at <a href="https://www.domain.com.au/property/for-sale/house/nsw/blacktown/?adid=2011625163" target="_blank">2a Felicia Place</a>. Starr Partners were saying $799,000 plus for the pricey offering.
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Blacktown secures strong auction success among busy Sydney auction weekend

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A five-level, 400-square-metre Richmond warehouse - once used as malthouse silo - fetched $2,511,000 after its weekend Biggin and Scott auction.
The three-bedroom apartment had attracted just the one bid of $2.22 million when 2/24 Abinger Street (pictured above) went to auction.
The property in the Richmond Hill pocket has an indoor salt-water heated pool, beneath a retractable roof.
The sale was among the weekend clearance rate of 70%, up compared to 66% last weekend and 68% this weekend last year, according to the REIV.
There were 1,266 auctions reported to the REIV this weekend, with 881 selling.
The inner Melbourne region has had the highest clearance rate so far this year, at 73%.
The busiest auction suburbs so far this year are Reservoir, Richmond, South Yarra and St Kilda - with over 450 auctions held in each.
Melbourne has recorded an unprecedented five Saturday’s in a row.
Richmond was the most popular auction suburb with 24 offerings, along with Mount Waverley.
The REIV listed 11 sales among its <a href="/news">13 Richmond results</a>. The Abinger Street offering was the top apartment sale.
Top 5 Houses
<ul>
<li>133 Canterbury Rd MIDDLE PARK $3,740,000</li>
<li>378 Beach Rd BEAUMARIS $3,700,000</li>
<li>80 Kooyongkoot Rd HAWTHORN $3,085,000</li>
<li>3 Mclachlan St NORTHCOTE $2,782,000</li>
<li>352 Montague St ALBERT PARK $2,710,000</li>
</ul>
Top 5 Bargain Houses
<ul>
<li>166A Widford St BROADMEADOWS $242,500</li>
<li>13 Langibanool Av HAMLYN HEIGHTS $251,000</li>
<li>5 Redpath Cl EPPING $295,000</li>
<li>25 Newgrove Rd HEALESVILLE $300,000</li>
<li>96 Laura Av BELMONT $311,000</li>
</ul>
Top 5 Flats/Apartments
<ul>
<li>24 Abinger St RICHMOND $2,511,000</li>
<li>Penthouse/212A Kooyong Rd TOORAK $2,160,000</li>
<li>1-4/424 Gaffney St PASCOE VALE $1,480,000</li>
<li>3/5 Moorakyne Av MALVERN $1,470,000</li>
<li>3 Princes Pl PORT MELBOURNE $1,450,000</li>
</ul>
Top 5 Bargain Flats/Apartments
<ul>
<li>111/44 Barkly St ST KILDA $185,000</li>
<li>9/150 Brunswick Rd BRUNSWICK $227,500</li>
<li>4/28 Hopetoun St MOONEE PONDS $232,000</li>
<li>8/149 Melrose Dr TULLAMARINE $235,000</li>
<li>10/23 Robe St ST KILDA $271,000</li>
</ul>
Source: REIV. 
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Inner city Richmond highlights Melbourne auction resilience

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National auction clearance rates are struggling to find the same heights as earlier in the year, off the back of a huge weekend for the property market.
According to RP Data, a massive 3,692 properties went under the hammer over the weekend, notching up the <a href="https://www.smartcompany.com.au/growth/economy/44845-former-genetic-technologies-chief-jailed-for-market-manipulation-merry-christmas-ahead-for-property-buyers-at-auctions-midday-roundup">same 66.6% national clearance rate as last week</a>, with the two biggest auction cities battling to find the demand for greater supply.
Sydney struggled in the face of greater supply, with only 71.7% of 1,378 homes selling at the auction block – the lowest level in 18 months, <a href="https://www.theaustralian.com.au/subscribe/news/1/index?sourceCode=TAWEB_WRE170_a&amp;mode=premium&amp;dest=https://www.theaustralian.com.au/business/property/auction-clearances-point-to-cooling-housing-market/story-fniz9vg9-1227147757900&amp;memtype=anonymous">according to The Australian</a>.
On a substantial Super Saturday in Melbourne, which saw 1,823 properties up for auction, Melbourne cleared 67.1%.
Frank Valentic, buyers advocate from Advantage Property Consulting, said the two week drop in clearance rates is “not evidence of a crash” and not something to concern sellers.
“It’s a sign of the large volume we’ve had over the last two months,” says Valentic.
“The market is just catching up with itself. It’s a natural thing when we see greater supply and each week we are seeing a large volumes of auctions.”
Valentic says around 10,000 properties have gone to auction in the last eight weeks, with considerably more Super Saturdays in Melbourne than last year.
“This shows there is confidence in the market and in the auction method,” he says.
“There is confidence that if you put your house on the market, you’ll get a sold sticker on it and a reasonable price.”
While Valentic says there are signs the Melbourne apartment market is softening due to an oversupply in inner suburbs, he says house prices are still “bulletproof”.
But he believes the clearance rate drops are not a sign the market swinging back in favour of buyers, saying there are still opportunities for both sellers and buyers to find excellent results.
“There are always opportunities to buy well and buy badly in any market. Anything with a wow factor will always be in demand,” Valentic says, giving the example of a property in Montague Street Albert Park, which sold for $675,000 above reserve at the weekend.
Valentic says the market is showing solid and sustained growth, unlike the heights and troughs of previous years, such as the boom of 2010.
He believes 2015 will begin with solid clearance rates in the mid-70’s, after the market takes a break for the Christmas period.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Property clearance rate drop is “natural” as auction volumes surge, says expert

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There was a $1.2 million sale of the 7/1 Printers Lane, Darlinghurst offering, which was listed with $1.1 million plus hopes.
The one-bedroom loft apartment had 102 square metres space at the late 1990s conversion of The Printery.
The block of nine apartments retains its interior and exterior industrial feel.
Scott Aggett of <a href="https://www.belleproperty.com/44P1084" target="_blank">Belle Property Surry Hills</a>, marketed the apartment with a secure parking space.
It last traded at $750,000 in 2011 and for $605,000 in 2002.
It first sold in 1998 for $410,000.
The prices when first offered in 1997 was ranged between $220,000 and $390,000 as empty shells - or apartments without walls - in the Shepherd &amp; Newman warehouse.
All floors were hardwood. All walls were painted brickwork. Windows were steel-framed timber.
The warehouse shells were offered through agent Sam Elbanna of City Project Marketing.
Built early in the last century, the Shepherd &amp; Newman warehouse served as a printing works for many years situated in a quiet lane off Yurong Street.
The Shepherd &amp; Newman warehouse was developed by MWI Property with its configuration designed by Peter Gerhard and Brian Tetu of Sunspot Design. 
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