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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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.
</body></html>

jchancellor-FAypfDUnLy

Coming in from the outer, Craigieburn gets cracking with auctions

<html><body>
A Canterbury trophy home has been sold for $6.66 million, having been listed in late May through hockingstuart.
<a href="https://www.realestateview.com.au/Real-Estate/mont-albert-road-canterbury/Property-Details-sold-residential-7182521" target="_blank">The Mont Albert Road property</a> last traded at $5.5 million in 2011.
It's a grand double-storey 2005-built house (pictured above) with 496 square metre internal space plus pool and tennis court on its 2,050 square metre block.
It was sold by Chinese vendors, Cai Huishuang. 
Sales this year include Silchester, at 106 Mont Albert Road, Canterbury, listed with $6 million plus hopes and passed in at $6.02 million at auction.
The double-storey 1920s house with pool and tennis court on its 2,161 square metre corner block, and even a croquet lawn, has been since sold at $6,475,000.
I recall it last traded to the current vendors in 1993 when sold at around $1.5 million by Brian Blythe from Spotless.
Another recent sale was <a href="https://www.realestateview.com.au/Real-Estate/67-mont-albert-road-canterbury/Property-Details-buy-residential-6606521" target="_blank">67 Mont Albert Road </a>(pictured below) where a 1925 brick house fetched $2,625,000 through Box Hill agents Winny Ni and Bruce Li to Chinese buyers. It was among the 2007 sales at around $2.4 million. 
{yoogallery src=[images/stories/2014/03/04/can4]}
Syme Manor, the Edwardian style Canterbury home (pictured below), was sold recently at $4.8 million to the Zhou family. It last traded at $4.8 million in 2008. 
{yoogallery src=[images/stories/2014/03/04/can3]}
There's a contemporary family entertainer update to the established 1920s home set on a 1746 square metre block with tennis court, pool and sauna. The Mont Albert Road property was first listed in spring 2013 with $5.35 million price guidance.
The so-called golden mile of Canterbury produced mixed results last year when I wrote the street's highest sale was the Sisters of Mercy development site which fetched $8.78 million in September.
The highest house sale was $7.5 million for the Schwal family's 2800 square metre property at 129 Mont Albert Road. It sold through Kay &amp; Burton's Michael Armstrong, settling late last year after selling around April to Chinese/Australian buyers. <a href="https://www.youtube.com/watch?v=30VmFO2mZhs" target="_blank">It had been initially listed in spring 2012 with video marketing</a> (below).
{qtube vid:=30VmFO2mZhs}
Agents tell Property Observer that half of Mont Albert Road's 10 sales during 2013 were to Chinese/Australian buyers.
There was a $5.9 million sale last year at 168 Mont Albert on the road of an eight year old Dordonge-style home with trimmed Manchurian pear trees lining its driveway.
It was bought by Chinese/Australian buyers who have been especially evident on the golden mile since 2007, often then making their purchases available as rentals.
</body></html>

Mont Albert Road, Canterbury trophy home sells for $6.66 million

<html><body>
The impact of land size on the value of and demand for a property is an interesting question.
Analysis of RP Data information comparing the sale price with the land area shows that location is still more important than size when comparing suburbs.
After all, a block of land that is twice the size and twice the distance from the amenities you desire is not likely to be as appealing as a well-located smaller one.
The value per square metre of houses in Melbourne’s million dollar suburbs demonstrates this.
<a href="/news">Toorak </a>is the city’s most expensive suburb for houses with a median sale price over the last year of $2.622 million. The average block size is however quite large at 8,232 square metres which translates to a cost of $3,187 per square metres. Interestingly, this is lower than the $6,274 in Albert Park and $6,074 in Middle Park and the median sale price is less than half that of Toorak
These two neighbouring suburbs have, compared to Toorak, very expensive land but this is more a factor of the small block sizes, at 2,092 square metres and 2,592 sqaure metres respectively.
At the other end of the spectrum is <a href="/news">Ivanhoe East</a>, a highly sought after suburb with a median sale price of $1.15 million; it has slightly larger blocks than Toorak at an average of 9692 square metres, again highlighting that location is the most critical factor.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/07/Land-size-table-blog.jpg" rel="wp-prettyPhoto[g3452]"><img class="aligncenter size-full wp-image-3453" src="https://blog.rpdata.com/wp-content/uploads/2014/07/Land-size-table-blog.jpg" alt="Does land size matter? RP Data Melbourne Blog" width="518" height="252"></a>
Melbourne Auction Market preview for week ending 13 July
There are 527 auctions scheduled this week in Melbourne compared to 426 for the same time last year.
The Melbourne market has been delivering consistent results for sellers in the past four weeks with very little change in the weekly clearance rate.
A review of the change in house values on a suburban basis shows that the largest increase over the last year was found mainly in inner city suburbs. <a href="/news">Middle Park</a>, <a href="/news">Hawthorn East</a>, <a href="/news">Braybrook</a>, <a href="/news">Balwyn North</a> and <a href="/news">Praaran </a>comprised the top five with changes in median value of between 43.2% and 24%. For apartments the top five included <a href="/news">Caulfield East</a>, <a href="/news">Middle Park</a>, <a href="/news">Canterbury</a>, <a href="/news">Flemington </a>and <a href="/news">Spotswood</a>.
The average time on market for houses sold last month rose sharply from 35 to 40 days despite average discounting being stable at -5.3% over the previous week.
Key data
<ul>
<li>Clearance rate week ending 6 July: 71.4%</li>
<li>Melbourne auctions expected week ending 13 July: 527</li>
<li>Melbourne private sales time on market week ending 6 July: 40 days (houses)</li>
<li>Melbourne vendor discounting market week ending 6 July: -5.3% (houses)</li>
<li>Listings being prepared for market are 0.5% lower in month ending 6 July (seasonally adjusted)</li>
</ul>
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Does land size matter? RP Data's Melbourne auction preview

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Glenn Coleman, the former Cronulla rugby league player and Sharks club chairman, is selling a development site with approval for a residential apartment building.
The Canterbury development site at 2 Broughton Street is adjacent to the Canterbury railway station, and will be going to auction through Ray White.
Ray White Commercial NSW managing director Jeff Moxham, and project directors Marcello Bo and Peter Apostolou, are marketing the site.
The 1,405 square metre site has development approval for 42 residential apartments over seven levels, said Moxham. It would include 35 two-bedroom apartments, seven one-bedroom apartments and a ground floor retail area of 115 square metres.
“The unit sizes are also generous with the two bedrooms up to 78.5 square metres and the one bedroom units over 50 square metres,” said Moxham.
“We have already had strong interest in this property which is coming onto the market at an ideal time,” he said.
He expects strong interest both on and offshore.
The auction will take place on 12 August at 10.30am at Auctionworks.
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Former NRL star Glenn Coleman's Canterbury, Sydney development site to go under the hammer

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The Melbourne suburb with the most auctions was the large, middle northern suburb of Reservoir, with 284 auctions over the first six moths of 2014.
In second spot was Richmond with 241, though it tied in actual sales given a stronger clearance rate.
The two busiest suburbs reversed place on the first six months of last year, when Richmond topped the list and Reservoir was second, the REIV chief Enzo Raimondo said.
He said citywide there had been an "auction explosion" with 18,244 auctions so far this year.
TOP 10 HIGHEST NUMBER OF AUCTIONS (ALL METRO)
First half 2014
<img src="/images/2014/07/09/auctions-july-9.jpg" alt="">
TOP 10 HIGHEST NUMBER OF AUCTIONS (ALL METRO)
First Half 2013
<img src="/images/2014/07/09/auctions-july-9-tow.jpg" alt="">
(Source REIV)
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Reservoir topples Richmond as Melbourne's busiest auction suburb

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<div>
A three storey, seven bedroom Concord mansion, with a very long lap pool, set a record price for the Sydney suburb on the weekend.
</div>
No. 11 Ludgate Street, Concord was sold for $2.79  million, some $90,000 above the $2.7 million reserve <a href="https://www.realestate.com.au/property-house-nsw-concord-117145251" target="_blank">through listing </a><a href="https://www.realestate.com.au/property-house-nsw-concord-117145251" target="_blank">agent Joseph Georges from Georges Ellis &amp; Co</a>.
Bidding opening at $2.3 million with a crowd 10 registered bidders amid the 150 people at the 1.30pm auction. Sold to a local family, the agents had been initially advising $2.45 million plus.
The 700 square metre block had cost $1,305,000 in 2010 for the owner builder.
Ludgate St, Concord had another sale on the weekend with No.13 selling later Saturday afternoon for $2.28 million, but it's sale was marked down by most to the successful piggybacking the neighbouring auction.
The Sidney Koh-designed house had been for sale since June last year, with an auction sign posted soon after 11's went up.
Property Observer gleans the Concord record was for the five-bedroom home at 7 Links Avenue at $2.61 million last November.
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Concord hits new heights with new suburb record for seven bedroom mansion

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A Bexley vendor and their estate agent have publicised their reserve price ahead of its 19 July auction.
The unusual tactic has already garnered a boost for its marketing with a feature in yesterday's Daily Telegraph, and featured on a Channel 10 news report by Daniel Sutton.
Their web marketing doesn't actually give the reserve price, so presumably inspectees of 15A St Georges Road have been advised of it when they turn up or ring the agent.
The LJ Hooker listing agent confirmed to Property Observer that there was no marketing of the reserve price as he needed to engage possible buyers in a conversation which might not happen if the reserve price was publicly available.
Which highlights the concern of disclosed reserves in the lead up to any auction. 
<a href="https://www.realestate.com.au/property-house-nsw-bexley-117327823" target="_blank">There is a $570,000 disclosed reserve price for the two bedroom, two bathroom property</a> which traded at $400,000 in 2004.
My view is that disclosed reserves are worthy for run of the mill property, but likely to work against any vendor with a property tapping emotional purchase aspirations.
I am a bigger supporter of price guidance, as long as vendors and buyers are being told the same figure.
The last survey reported by Property Observer on the gap between real estate agent price guides and actual auction results in Sydney sat at 12%, according to an August 2013 survey by Intelligent Property Services.
In 2012 there was an 9% variation and in 2011 an 8% variation.
Head of research at Intelligent Property Services, Joe Kotevich, suggested the surge came more as a result of buyer demand than any deliberate lowballing by agents.  
Intelligent Property Services obtains the price guides after the first week of showing the property, allowing time adjustment of expectations. The auctions are monitored following inquiry from its buyers agent department.
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Bexley pre-auction reserve disclosure the one swallow before spring

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The 10 most expensive homes in the country sold this week are all located in Queensland and New South Wales.
While <a href="https://www.myrpdata.com/" target="_blank">RP Data</a>’s top 10 sales list is usually dominated by east coast cities, Melbourne usually makes an appearance. Not so this week, when three Queensland properties made the top 10 list, with the remainder coming from Sydney.
The most expensive sale of this week is $1.5 million down from last week’s top sale, when <a href="/news/madame-korner-sells-longtime-double-bay-home">Judit Korner secured $7.2 million</a> for her Double Bay home. 
<ol>
<li>
<a href="https://www.offermann.com.au/buying/6_belmore_tce_sunshine_beach/" target="_blank">6 Belmore Terrace, Sunshine Beach, Qld </a><img src="/images/2014/07/08/ex1.jpg" alt="" style="line-height: 1.3em;"> The week’s top selling home was a two storey beach-facing house designed by John Mainwaring. The architect happened to also design another top 10 trophy home – the house at 145 Ryan St, West End, was last week’s eighth highest sale, selling for $2,475,000. This <a href="/news">Sunshine Beach</a> contemporary home (pictured in the gallery above), with six bedrooms and five bathrooms, sold for $5,700,000 through Tom Offerman Real Estate. According to the agent, the vendors tasked Mainwaring to design a “robust, calm and intimate” home. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-church+point-114770779" target="_blank">2101 Pittwater Rd Church Point NSW <img src="/images/2014/07/08/ex2.jpg" alt="" style="color: #333333; line-height: 1.3em;"> </a><a href="https://www.realestate.com.au/property-house-nsw-church+point-114770779" target="_blank"> </a>Edenwood, a four bedroom, four bathroom house, sold through Re/Max for $5,075,000 this week. Set on a 3,465 square metre plot, the double storey home has panoramic views of Pittwater through mature gum trees. The home comes with a heated pool and spa, with a tennis court and pavilion. The vendors purchased the property for $2,080,000 in 2000.<a href="https://www.realestate.com.au/property-house-nsw-church+point-114770779" target="_blank"> </a>
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-vaucluse-115911775" target="_blank">2 Macquarie Road, Vaucluse, NSW </a> <img src="/images/2014/07/08/ex3.jpg" alt=""> This five bedroom, five bathroom home sold for $4,050,000 through Laing + Simmons Double Bay after 158 days on the market. The corner-positioned full brick three storey residence is set on 670 square metres of land. It opens with a double height marble foyer and continues through to several living and lounge areas, including an octagonal sitting room. It was advertised by the agents as having “good fung choi [sic]”. The listing information also says that the vendors would “now meet the market” for the sale. They made a loss on the property, paying $4,250,000 in 2010. 
</li>
<li>
<a href="https://%20%20%20http:/www.realestate.com.au/property-house-nsw-vaucluse-116319743" target="_blank">50 Hopetoun Avenue, Vaucluse, NSW</a> <img src="/images/2014/07/08/ex4.jpg" alt=""> A north facing house on a 940 square metre plot also secured $4,050,000 when sold through 1st City Hasemer &amp; Caldwell.Eyles Double Bay. The five bedroom, three bathroom house has a formal living room, separate dining and separate rumpus room with kitchenette and media room. Outside, there is a saltwater pool and courtyard. The house had last changed hands 38 years ago. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-vaucluse-115094859" target="_blank">36 Olola Avenue, Vaucluse, NSW</a> <img src="/images/2014/07/08/ex5.jpg" alt=""> Another Vaucluse home made the top 10 list, with this house selling for $3,370,000 through Raine &amp; Horne Double Bay. Situated opposite Vaucluse park, the contemporary home has four bedrooms, five bathrooms, a study and a lobby and gallery area with a cathedral ceiling. There is a self-contained one bedroom area downstairs, with an office area and bathroom. Outside, there is a heated pool. The vendors unsuccessfully attempted to sell the home at auction in December last year. They held the property for 27 years – it was purchased for $833,500. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-dover+heights-117141091" target="_blank">33 Military Road, Dover Heights, NSW</a> <img src="/images/2014/07/08/ex6.jpg" alt=""> This home secured $3,250,000 at a mortgagee in possession sale through BradfieldCleary Double Bay. With coastal views, the house has four bedrooms and three bathrooms, with open plan living areas. The property has a lap pool, wine cellar and a four-car garage, with a rooftop terrace. The master bedroom has its own private balcony. It was purchased in 2010 for $4,250,000. The former owner attempted to sell the house in March last year, but it failed to move after 194 days on the market. 
</li>
<li>
<a href="https://www.raywhite.com/qld/south-brisbane/1062220/" target="_blank">51/410 Stanley Street, South Brisbane, QLD </a><img src="/images/2014/07/08/ex7.jpg" alt=""> A four bedroom, four bathroom South Brisbane apartment sold for $3,200,000 through Ray White Clayfield – more than eight times the <a href="/news/qld/what-can-you-buy-for-brisbane-and-the-gold-coast-s-median-unit-price">Brisbane and Gold Coast median unit price</a>. The north-east facing home has 731 square metres of floor space across a single level. The master bedroom has a marble en suite, walk in robe and private sitting room with access to a covered balcony with city views. Each of the apartment’s four bedrooms has balcony access, while the apartment also comes with a private rooftop pool and spa.</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-concord-117145251" target="_blank">11 Ludgate Street Concord, NSW</a>
<img src="/images/2014/07/08/ex8.jpg" alt=""> This three storey Sydney home sold for $2,790,000 through Georges Ellis &amp; Co Strathfield. The seven bedroom, four bathroom house is set on an elevated 697 square metre block with views of the Harbour Bridge and Sydney’s skyline. The vendors purchased the property for $1,310,000 in 2010. 
</li>
<li>
<a href="https://www.raywhite.com/qld/new-farm/1149315/" target="_blank">106 Villiers Street, New Farm, QLD</a> <img src="/images/2014/07/08/ex9.jpg" alt=""> A contemporary home situated on Teneriffe Hill secured $2,605,000 when sold this week through Ray White New Farm. The entire top floor of the home is a dedicated master suite, while downstairs there are various living areas, a kitchen with marble and stainless steel benches and four more bedrooms. The lower living areas open on to a tiled outdoor entertaining area with barbecue and a lap pool. The vendors purchased the property for $1,175,000 in May 2008. 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-queenscliff-117335575" target="_blank">7 Hill Street, Queenscliff, NSW</a> <img src="/images/2014/07/08/ex10.jpg" alt=""> This semi-detached home sold for $2,450,000 through Cunninghams Property Balgowlah. The bright four bedroom, three bathroom house is located 400 metres from Queenscliff beach, with schools, shops and public transport within walking distance. The entire second storey is taken up by the master bedroom and a “parent’s retreat”, with a full en suite and north facing balcony. After just over two years of ownership, the vendors sold the property for around $500,000 more than the purchase price. They bought the home in April 2012 for $1,915,000.
</li>
</ol>
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The 10 most expensive home sales of the week: RP Data

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Brisbane went the closest for many months to recording the weekend's top national auction sale.
It was almost a photo finish, according to the APM results:
<ul>
<li>$2,790,000 - 11 Ludgate St, Concord NSW 2137, 7 br house, Georges Ellis &amp; Co</li>
<li>$2,605,000 - 106 Villiers St, New Farm QLD 4005, 5 br house, RW - New Farm</li>
<li>$2,350,000 - 21 Clancys La, Doncaster VIC 3108, 5 br house, Jellis Craig Doncaster</li>
</ul>
The five bedroom New Farm property (pictured above) - marketed as one of the most exceptional addresses of the year - is set on Teneriffe Hill.
The 380 square metre block which cost $1.175 million in 2008, now comes with 480 square metres of living.
<a href="https://www.realestate.com.au/property-house-qld-new+farm-117172127" target="_blank">Matt Lancashire of Ray White</a> said the entire top floor had been designated as a superb master suite which sets a new standard in luxury.
The street's previous record was $2.2 million for a <a href="https://lockyerarchitects.com.au/news/?p=352" target="_blank">Lockyer Architects-designed house</a>.
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 New Farm mansion with whole floor master suite sells for $2.6 million

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The former Wheel of Fortune host, and production company founder, Steve Oemcke secured $1.89 million when his Elwood home went to weekend auction.
Oemcke is content director with WTFN which produces TV shows including Coxy's Big Break and Bondi Vet.
Oemcke and his wife Cindy bought the then 18-month-old house at <a href="https://www.realestate.com.au/property-house-vic-elwood-117213867" target="_blank">2b Beach Avenue</a> with a renovation since undertaken by Studio 35 Architecture.
The two-level property comes with three bedrooms, study plus a plunge pool.
{qtube vid:=wOJq_WSCApE}
Jason Collie and Barb Gregory of Marshall White had expected more than $1.7 million. <a href="/news">Elwood</a>'s median price sits at $1.2 million, according to RP Data.
Created by Merv Griffin, and produced by Grundy, the hosts of Wheel of Fortune through the years were:
Ernie Sigley (1981-1984) John Burgess (1984-1996) Tony Barber (1996) Rob Elliott (1997-2003) Steve Oemcke (2004-2005) Larry Emdur (2006) Tim Campbell (2008)
The hostess during Oemcke's stint was Sophie Falkiner (1999-2005).
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