Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

Balwyn

<html><body>
Balwyn has emerged as the most expensive Victorian locality for purchasing houses, according to Investar’s latest report.
The property investment firm says that the median house price at Balwyn is $3.1 million.
This is followed by Kew with $2.975 million and Camberwell with $2.5 million.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="79">
Suburb
</td>
<td valign="top" width="64">
Postcode
</td>
<td valign="top" width="70">
Bedrooms
</td>
<td valign="top" width="122">
Current median price
</td>
</tr>
<tr>
<td valign="top" width="79">
Balwyn
</td>
<td valign="top" width="64">
3103
</td>
<td valign="top" width="70">
5
</td>
<td valign="top" width="122">
$3,100,000
</td>
</tr>
<tr>
<td valign="top" width="79">
Kew
</td>
<td valign="top" width="64">
3101
</td>
<td valign="top" width="70">
5
</td>
<td valign="top" width="122">
$2,975,000
</td>
</tr>
<tr>
<td valign="top" width="79">
Camberwell
</td>
<td valign="top" width="64">
3124
</td>
<td valign="top" width="70">
5
</td>
<td valign="top" width="122">
$2,500,000
</td>
</tr>
<tr>
<td valign="top" width="79">
Glen Iris
</td>
<td valign="top" width="64">
3146
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="122">
$2,275,000
</td>
</tr>
<tr>
<td valign="top" width="79">
Brighton
</td>
<td valign="top" width="64">
3186
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="122">
$2,200,000
</td>
</tr>
</tbody></table>
A five bedroom house at <a href="https://www.realestate.com.au/property-house-vic-balwyn-125074082" target="_blank">76 Belmore Road</a>, Balwyn (above) has been listed for sale with $3 million to $3.3 million price guidance.
Similarly a five bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-balwyn-121981782" target="_blank">1 Raynes Street</a>, Balwyn (below) was sold on March this year for $3.115 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/04/18/1%20Raynes%20Street.jpg" alt="">
</body></html>

j.ballantyne1990-6AQqhLzZaK

Balwyn median house price at $3.1 million: Investar

<html><body>
A residential development site at Balwyn has been sold for $6.01 million.
Located at <a href="https://www.realestate.com.au/sold/property-residential+land-vic-balwyn-201719646" target="_blank">7 Cherry Road</a>, the property has a permit approval for 16 luxury apartments.
With a 1593 sqm site, it is opposite Balwyn Park and Whitehorse Road shops and trams are just 100 metres away.
Canterbury train station, Maling Road shops and city cycling tracks are in close proximity.
The property was offered through Fletchers agent Rob Fletcher.
</body></html>

Balwyn residential land sold for $6.01 million

<html><body>
<div>
Consumer Affairs Victoria has commenced proceedings in the Federal Court of Australia against a Balwyn real estate agency for allegedly engaging in misleading and deceptive practices relating to the sale of land.
The real estate agency Fletchers (Balwyn) is alleged by Consumer Affairs Victoria to have done so during 2015.
It is alleged Fletcher &amp; Parker (Balwyn) Pty Ltd marketed properties in Melbourne’s eastern and south-eastern suburbs knowing the vendors would not sell for a price within the listed range, or that the properties were unlikely to sell for the price listed.
</div>
<div id="GeneralBodyContent">
The alleged conduct relates to 25 residential properties in Box Hill North, Box Hill South, Forest Hill, Doncaster, Hawthorn East, Blackburn, Blackburn North, Burwood East, Surrey Hills, Windsor, Vermont, Vermont South, Mitcham, Balwyn North, Kew and Camberwell.
Consumer Affairs Victoria will allege Fletcher &amp; Parker (Balwyn) contravened:
<ul>
<li>section 18 of the Australian Consumer Law, which prohibits misleading and deceptive conduct in trade and commerce, and</li>
<li>section 30 of the Australian Consumer Law, which prohibits false and misleading representations in connection to the sale and promotion of land.</li>
</ul>
The court actions have resulted from the work of Consumer Affairs Victoria’s underquoting taskforce, Taskforce Vesta<a href="https://www.consumer.vic.gov.au/housing-and-accommodation/buying-and-selling-property/our-underquoting-taskforce"></a>.
</div>
</body></html>

jchancellor-FAypfDUnLy

Fletchers Balwyn facing underquoting allegations in Federal Court 

<html><body>
Balwyn’s high school zone still remains in high demand with five of the seven luxurious townhouses, known as Blossom sold within the first week of launch.
There were over $10 million in sales with prices ranging from $1.59 million to $2.29 million.
Blossom comprises of seven luxurious townhouses designed with home cinemas, wine cellars and expansive backyards. Chun Group general manager Michael Hermans said the buyers expect the highest of quality. All featuring four bedrooms, Blossom come with a neutral colour palette and timber flooring. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2016/12/16/blossom02.jpg" alt=""> Its backyards were designed by leading studio Acre Landscaping Architects.  Blossom is listed with Jellis Craig Projects agent Nick Elmore.
Visit <a href="https://www.blossombalwyn.com.au" target="_blank">www.blossombalwyn.com.au</a>
</body></html>

Demand for Balwyn’s High School zone sees near sell out of Blossom townhouses in a week

<html><body>
A Chinese family has acquired a Balwyn freehold property for $6.18 million, nearly $3 million more than its last sale three years back, reinforcing the strong demand for strategic strip retail investments in Melbourne. 
The sale of the 701 sqm property at 313-315 Whitehorse Road in the inner eastern suburb of Balwyn was brokered by CBRE’s Josh Rutman, Rorey James, Mark Wizel and Benson Zhou.
The property was sold with existing leases to bedding retailer Back to Sleep and creative agency Web Silk on a WALE (weighted average lease expiry) of four years. The tenancies provide an annual income of $376,000 net. 
The sale price translates to a building rate of $8,819 per sqm – one of the strongest rates on record for the area, according to the media release.
James linked the strong result to continued buyer confidence in Melbourne’s inner east. 
“The transaction provides further evidence that strip retail investments outside Melbourne’s prime retail precincts continue to be coveted assets, with these properties consistently achieving prices far above long term averages,” said James.
</body></html>

jonathanchancellor-7SQnKwU6yx

Chinese family buys office building in inner-east Melbourne for $6.18 million

<html><body>
An architecturally designed property on 810 square metres in Balwyn, Victoria has been listed for sale.
The home at <a href="https://www.realestate.com.au/property-house-vic-balwyn+north-123185766" target="_blank">211 Belmore Road</a> has five bedrooms, four bathrooms, CCTV security, remote garaging for four vehicles with turntable.
The property also features an undercover terrace with a built in BBQ and wet bar. The terrace overlooks the backyard and heated pool.
William Chen and Meredith Plant from Jellis Craig, Boroondara Group have listed the property
The median house price in Balwyn is $2.157 million, according to CoreLogic. 
</body></html>

Balwyn trophy home hits the market

<html><body>
Australian Property Monitors recently released its list of the best 625 suburbs across Australia with the suggestion investors should exercise caution in the coming year.
There are just 15 suburbs out of the 625 predicted to have double digit growth, headlined perhaps by the surprise inclusion of New South Wales' popular beachside town, Byron Bay.
Balwyn, Box Hill North and Toorak are the only three suburbs that offer double digit growth for units as well as for houses.
Released ahead of the recent Chinese stockmarket turmoil, APM's housing market expert, Dr Andrew Wilson cautioned the great Sydney boom had clearly ended.
"The peak of the cycle for both Sydney and Melbourne was June," he advised.
More recently he noted “it will be a flat year for Sydney property prices this year.”
“I’ve been predicting up to a 4% property price growth rate in Sydney, and about the same nationally.
"Economic circumstances are now set to deteriorate and it will be a year of circumspection."
Wilson is one of a growing number of experts cautioning investors against expecting bonanza-sized capital returns from property in 2016 as things cool down.
The APM forecast in the AFR Smart Investor magazine even suggested it was why they created the list.
<img src="/images/2016/01/27/1447965660172.jpg" alt="">
"If the experts are right and heat does come out of the market, minor differences in asset quality will start to produce very different results.
"The choice between one postcode and the one adjacent could lead to years of regret," the article said, adding their list of the most investable suburbs would be an important weapon for any reader seeking to add to their property portfolio.
The data ranks suburbs according to the price growth over the year to August 31, puts that in context of a three-year growth rate, adds a median price and average yields and then includes APM's exclusive 12-month forecast.
These predictions take into account growth characteristics at a national level, a capital city or regional level and then at a suburban level. 
They include macroeconomic inputs such as monetary policy and confidence levels, while also taking into account more granular considerations that vary from suburb to suburb.
There isn't a single suburb in Queensland, South Australia, Australian Capital Territory, West Australian or Northern Territory that envisaged to fetch 10 per cent or more.
Victoria dominates the list of suburbs which have a 10 per cent or higher 12 month forecast, with only one suburb coming from all six other states.
 
Balwyn - 12%
Box Hill - 12%
Box Hill North - 12%
Byron Bay - 12%
Doncaster East - 12%
Glen Waverley - 12%
Mount Waverley - 12%
Templestowe - 12%
Templestowe Lower - 12%
Balwyn North - 10%
Bentleigh - 10%
Carnegie - 10% 
Fitzroy North - 10%
Glen Huntly - 10%
Toorak  - 10%
</body></html>

jrobinson-rf4aSBido9

2016's top 15 forecast investor growth localities: APM

<html><body>
Melbourne's most expensive home reported over the weekend was sold pre-auction at Balwyn, according to the REIV.
The property at <a href="https://www.realestateview.com.au/Real-Estate/66-gordon-street-balwyn/Property-Details-sold-residential-9699536" target="_blank">66 Gordon St, Balwyn</a> was sold for $4.8 million through James Huang of Phillip Webb Doncaster. 
The six bedroom contemporary home last traded for $3.3 million in 2009. 
The French provincial residence sits on a 724 sqm block on one of Balwyn's most exclusive streets, a short walk to transport and numerous prestigious schooling options.
The estate includes two gated driveways, manicured gardens and a sandstone courtyard accompanied by an alfresco deck and pool.
The finishes include a timber and iron staircase, open fire lounge and Feng-Shui elements.
Balwyn sits third among the 87 suburbs in Melbourne that had a median house price in excess of a million dollars in September quarter 2015, according to the REIV. 
 
<table dir="ltr" border="1" cellspacing="0" cellpadding="0">
<colgroup>
<col width="160">
<col width="100">
</colgroup>
<tbody>
<tr>
<td data-sheets-value='[null,2,"Suburb"]'>Suburb</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='[null,2,"Sep-15 Median"]'>Sep-15 Median</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"TOORAK"]'>TOORAK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,3950000]">$3,950,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CANTERBURY"]'>CANTERBURY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2430500]">$2,430,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BALWYN"]'>BALWYN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2281000]">$2,281,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BRIGHTON"]'>BRIGHTON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2222500]">$2,222,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ARMADALE*"]'>ARMADALE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2185000]">$2,185,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"KEW"]'>KEW</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2080000]">$2,080,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HAWTHORN"]'>HAWTHORN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2053000]">$2,053,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MONT ALBERT*"]'>MONT ALBERT*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2035000]">$2,035,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MALVERN*"]'>MALVERN*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1985000]">$1,985,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CAMBERWELL"]'>CAMBERWELL</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1883000]">$1,883,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PORTSEA*"]'>PORTSEA*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1875000]">$1,875,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SURREY HILLS"]'>SURREY HILLS</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1865000]">$1,865,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BALWYN NORTH"]'>BALWYN NORTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1855000]">$1,855,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"EAGLEMONT*"]'>EAGLEMONT*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1850000]">$1,850,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CAULFIELD NORTH"]'>CAULFIELD NORTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1841000]">$1,841,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SOUTH YARRA"]'>SOUTH YARRA</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1800000]">$1,800,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"GLEN IRIS"]'>GLEN IRIS</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1785000]">$1,785,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ALBERT PARK"]'>ALBERT PARK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1747500]">$1,747,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"IVANHOE EAST*"]'>IVANHOE EAST*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1745000]">$1,745,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HAMPTON*"]'>HAMPTON*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1725500]">$1,725,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CAULFIELD*"]'>CAULFIELD*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1712000]">$1,712,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SANDRINGHAM*"]'>SANDRINGHAM*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1670000]">$1,670,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HAWTHORN EAST"]'>HAWTHORN EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1661250]">$1,661,250</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MONT ALBERT NORTH*"]'>MONT ALBERT NORTH*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1650000]">$1,650,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MCKINNON*"]'>MCKINNON*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1630000]">$1,630,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BRIGHTON EAST"]'>BRIGHTON EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1625000]">$1,625,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"KEW EAST"]'>KEW EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1618000]">$1,618,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BLACK ROCK*"]'>BLACK ROCK*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1600000]">$1,600,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MALVERN EAST"]'>MALVERN EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1600000]">$1,600,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BOX HILL*"]'>BOX HILL*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1574000]">$1,574,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ELWOOD*"]'>ELWOOD*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1540000]">$1,540,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ASHBURTON*"]'>ASHBURTON*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1485000]">$1,485,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ORMOND*"]'>ORMOND*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1460000]">$1,460,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PARK ORCHARDS*"]'>PARK ORCHARDS*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1445750]">$1,445,750</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ALPHINGTON*"]'>ALPHINGTON*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1430000]">$1,430,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BEAUMARIS"]'>BEAUMARIS</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1410000]">$1,410,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ST KILDA EAST*"]'>ST KILDA EAST*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1382500]">$1,382,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MOUNT WAVERLEY"]'>MOUNT WAVERLEY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1380000]">$1,380,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ELSTERNWICK*"]'>ELSTERNWICK*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1375000]">$1,375,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"FITZROY*"]'>FITZROY*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1363000]">$1,363,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BLACKBURN"]'>BLACKBURN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1330000]">$1,330,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"IVANHOE"]'>IVANHOE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1330000]">$1,330,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"DONVALE"]'>DONVALE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1325000]">$1,325,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"GLEN WAVERLEY"]'>GLEN WAVERLEY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1319000]">$1,319,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"TEMPLESTOWE"]'>TEMPLESTOWE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1316000]">$1,316,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PORT MELBOURNE"]'>PORT MELBOURNE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1305000]">$1,305,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"DONCASTER"]'>DONCASTER</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1298000]">$1,298,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CARNEGIE*"]'>CARNEGIE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1292500]">$1,292,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ASHWOOD*"]'>ASHWOOD*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1290000]">$1,290,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PRAHRAN"]'>PRAHRAN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1290000]">$1,290,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CARLTON*"]'>CARLTON*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1271000]">$1,271,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BALACLAVA*"]'>BALACLAVA*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1268000]">$1,268,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MURRUMBEENA*"]'>MURRUMBEENA*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1257500]">$1,257,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BENTLEIGH"]'>BENTLEIGH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1255000]">$1,255,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CAULFIELD SOUTH"]'>CAULFIELD SOUTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1235000]">$1,235,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"DONCASTER EAST"]'>DONCASTER EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1232000]">$1,232,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"FITZROY NORTH*"]'>FITZROY NORTH*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1228000]">$1,228,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BURWOOD"]'>BURWOOD</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1222500]">$1,222,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CARLTON NORTH*"]'>CARLTON NORTH*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1222000]">$1,222,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"WINDSOR*"]'>WINDSOR*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1215000]">$1,215,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BOX HILL SOUTH"]'>BOX HILL SOUTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1207500]">$1,207,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ST KILDA*"]'>ST KILDA*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1206000]">$1,206,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ABERFELDIE*"]'>ABERFELDIE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1203750]">$1,203,750</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CLIFTON HILL*"]'>CLIFTON HILL*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1200000]">$1,200,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PLENTY*"]'>PLENTY*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1200000]">$1,200,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HUGHESDALE*"]'>HUGHESDALE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1195000]">$1,195,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"NORTHCOTE"]'>NORTHCOTE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1138900]">$1,138,900</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"OAKLEIGH EAST*"]'>OAKLEIGH EAST*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1137000]">$1,137,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ESSENDON"]'>ESSENDON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1133794]">$1,133,794</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BOX HILL NORTH"]'>BOX HILL NORTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1132000]">$1,132,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HEIDELBERG*"]'>HEIDELBERG*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1120000]">$1,120,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"FAIRFIELD*"]'>FAIRFIELD*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1106250]">$1,106,250</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"RICHMOND"]'>RICHMOND</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1102500]">$1,102,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CLAYTON*"]'>CLAYTON*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1100000]">$1,100,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"WILLIAMSTOWN"]'>WILLIAMSTOWN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1100000]">$1,100,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BENTLEIGH EAST"]'>BENTLEIGH EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1085000]">$1,085,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"STRATHMORE*"]'>STRATHMORE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1080250]">$1,080,250</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"OAKLEIGH*"]'>OAKLEIGH*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1065500]">$1,065,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"NORTH MELBOURNE*"]'>NORTH MELBOURNE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1065000]">$1,065,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BULLEEN*"]'>BULLEEN*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1055500]">$1,055,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"TEMPLESTOWE LOWER"]'>TEMPLESTOWE LOWER</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1044750]">$1,044,750</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"VERMONT SOUTH"]'>VERMONT SOUTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1040000]">$1,040,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BLACKBURN NORTH*"]'>BLACKBURN NORTH*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1039500]">$1,039,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SOUTH MELBOURNE*"]'>SOUTH MELBOURNE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1035000]">$1,035,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MOONEE PONDS"]'>MOONEE PONDS</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1020000]">$1,020,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BURWOOD EAST*"]'>BURWOOD EAST*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1004000]">$1,004,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BLACKBURN SOUTH"]'>BLACKBURN SOUTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1000000]">$1,000,000</td>
</tr>
</tbody>
</table>
Source <a href="/news">REIV</a> 
 
</body></html>

Balwyn the home of Melbourne's third most expensive houses: REIV

<html><body>
A clearance rate of 67% was recorded over the weekend compared to 69% last weekend and 65% this weekend last year.
There were 1172 auctions reported to the REIV with 780 selling. The top sale was when <a href="https://www.realestateview.com.au/Real-Estate/66-gordon-street-balwyn/Property-Details-buy-residential-9699536" target="_blank">66 Gordon Street, Balwyn </a>(above) fetched $4,880,000. It was last sold at $3.3 million in 2009 to Chinese buyers after being built in 2008 as a six bedroom, five bathroom home.
Next weekend is expected to be one of the highest on record, with around 1,750 auctions scheduled. The current record was set on October25-26 last year, when 1,682 auctions were held. 
TOP 5 HOUSES
1. 66 Gordon Street, Balwyn $4,880,000
2. 28 Cosham Street, Brighton $3,925,000
3. 16 Belmont Avenue, Kew $3,905,000
4. 6 Black Street, Brighton $3,675,000
5. 12 Angle Road, Deepdene $3,410,000
 
TOP 5 BARGAIN HOUSES
1. 20 Wyuna Street, Rosebud West $275,000
2. 28 Paroo Avenue, Roxburgh Park $342,000
3. 27 Warne Street, Coolaroo $346,000
4. 5 Mitford Crescent, Craigieburn $348,000
5. 11 Gander Street, Doreen $350,000
 
TOP 5 APARTMENTS
1. 217-219 Dryburgh Street, North Melbourne $2,370,000
2. 2306/229 Toorak Road, South Yarra $1,550,000
3. 2A Bayview Street, Elsternwick $1,500,000
4. 4 Clapham Street, Balwyn $1,473,000
5. 1/32 Bogong Avenue, Glen Waverley $1,420,000
 
TOP 5 BARGAIN APARTMENTS
1. 9/73 Kingsville Street, Kingsville $228,000
2. 5/243 Murrumbeena Road, Murrumbeena $249,000
3. 15/745 Barkly Street, West Footscray $265,000
4. 7/55 Pender Street, Thornbury $280,500
5. 3/1 Mattea Court, Reservoir $281,000
 
Source <a href="/news">REIV</a> 
</body></html>

Balwyn tops the sales as Melbourne clearance rate slips to 67%: REIV

<html><body>
2014 is still motoring along very strongly. The lull we reported of the last few weeks seems to have been nothing more than another stair landing in the continuously rising price-staircase which began in October 2012.
This weekend was another Super Saturday, with over 150 auctions in Melbourne’s inner east and Bayside. It was a very solid test, in that bidders were spread out over a large number of auctions – i.e. there was significant choice. The bidder depth held up, in fact it increased marginally with over two bidders per auction on average – this is strong.
If you look at the roughly 200 $1 million plus auctions that took place across all of Melbourne, an average of two bidders means that not only were there 200 buyers, there were also 200 bidders who missed out. Most of those “wounded” bidders are not discretionary buyers – they have to buy and next time they will be more aggressive on price, even if only a tad.
<blockquote>
For a number of our Chinese clients, one of the reasons we are engaged is that they are concerned what other Chinese buyers may do and they don’t want to miss out.
</blockquote>
However, after next week it gets very tight for new stock going into the school holidays and Easter. So the pool of choice will diminish. That means many of those 200 “wounded underbidders” may well be competing against you over Easter but on lower stock levels. That means we’re likely to see 200 underbidders competing not on 200 homes, but on, say, 100 good homes which would double the bidders. If that number is spread out over 50 good homes, that will be four times the bidder strength we saw this weekend.
So what to do as a buyer? Maybe it’s time to wait until the steam goes out of the market?
For those buyers still waiting on the edge for a downturn – good luck. I’m not sure that is a proven good strategy.
But surely it can’t last forever!
Why has our market been so good for so long and will it last?
The Chinese community – simple demand and supply
The reason our market has been so good for so long is very simple – the overseas Chinese community.
Here are the top 10 reported sales on Saturday.
The Top 10 reported on Saturday
<ul>
<li>14 Selwyn Av, ELWOOD – Above $3,600,000</li>
<li>
21 Monash Av, BALWYN – $3,520,000</li>
<li>17 Rolls Ct, GLEN WAVERLEY – $3,416,000</li>
<li>
65 Metung St, BALWYN Above $3,200,000</li>
<li>30 Wills St, KEW Above $3,000,000</li>
<li>4 Mt Ida Av, HAWTHORN EAST  $3,235,500</li>
<li>69 Alfred Cr, FITZROY NORTH  $3,140,000</li>
<li>
2 Barnsbury Rd, BALWYN Above $3,000,000</li>
<li>9 Fairfield Av, CAMBERWELL  $2,888,000</li>
<li>
65 Yarrbat Av, BALWYN $2,850,000</li>
</ul>
40% of those sales were in <a href="/news">Balwyn</a> for new homes or land blocks to build new homes. Where is <a href="/news">Brighton</a>, where is <a href="/news">Toorak</a>? <a href="/news">North Balwyn</a> and Balwyn reported 13 bought from a reported 15 auctions. Brighton had 9 bought from 16 and Toorak and <a href="/news">South Yarra</a> just 7 from 12.
So how long will it last?
This is my potted history of Chinese involvement in Melbourne’s property market.
1973: I went to Camberwell Grammar in the early 1970s (I’m not sure they want me to advertise that fact – it could be bad for new enrolments). Camberwell Grammar is in Balwyn and a number of my classmates at that time were Chinese.
1983: Chinese start buying into Doncaster and Box Hill, which were then more affordable suburbs. I grew up in Doncaster.
1993: After economic reforms start having an impact in China, wealthy overseas Chinese start buying into premium Melbourne suburbs such as Balwyn and <a href="/news">Canterbury</a>. Why? Private schools. Chinese people want to give their children the best education (see 1973) and now a few could also afford to buy a home near the schools of their choice such as Carey, MLC, Scotch and Camberwell Grammar. But it was still difficult under Australian buying laws for overseas people.
2000: With restrictions on what Chinese people could buy and Chinese wealth increasing, off the plan properties became popular for many Chinese buyers. There were very few restrictions on Chinese people buying new properties and Chinese people were used to buying new apartments. High rises went up left, right and centre in Melbourne, many on the back of Chinese money.
2005: Chinese wealth had increased dramatically over the last two decades and as Chinese buyers became wealthier they also became more sophisticated in their knowledge about Melbourne properties and Toorak became a place where land banking became popular. It still is today.
2009: Australian government changes the laws making buying “second-hand” family homes in Australia a lot easier for Chinese people. This one decision really brought the inner Melbourne property market out of the GFC a lot quicker than other countries.
2013: By this time, every one of the bigger buying or selling real estate agencies, ourselves included, has at least one Mandarin-speaking staff member.
2014 : At this weekend’s Super Saturday, 40% of our Top 10 $3m+ sales were in Balwyn, rather than Toorak or Brighton.
So in my 55 year history I have seen this equation of simple demand (increasing Chinese buyers) versus supply (no new land in inner Melbourne) push prices up and up and up. I cannot see anything changing anytime soon. So waiting for the market to turn in 1970, 1980, 1990, 2000 and 2010 hasn’t in my mind proven to be a winning strategy. If you see the right home for you (emotionally, physically and financially) then you should buy it now.
You may be interested to know that for a number of our Chinese clients, one of the reasons we are engaged is that they are concerned what other Chinese buyers may do and they don’t want to miss out.
Auctions in Bayside see around half  the number of people attending as in Boroondara. A good auction in Brighton has 40 people while in Kew it would be 80. The Chinese community is nowhere near as well established in Bayside as it is in Boroondara.
Why not? There are some great private schools in Bayside! St Leonards, Haileybury, Caulfield Grammar.
Its a historical thing. But you can see more and more Chinese people considering say other areas such as Brighton when:
<ul>
<li>Chinese people become more comfortable with Bayside as a place to live, and</li>
<li>Demand in Boroondara and then Stonnington forces some Chinese people to consider other options.</li>
</ul>
Over time the Chinese community demand and supply equation will have the same effect in Bayside as it has had in Boroondara, unless China’s wealth begins to diminish.
</body></html>

Balwyn

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Balwyn

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News