The idea of a low-maintenance forever home located close to the city were the two driving factors behind a recent purchaser’s journey at Murcia, the under-construction East Brisbane apartment development by Sarazin.

Last year, Lois and her husband purchased a two-bedroom plus multi-purpose room (MPR) apartment in the new building, which is being constructed by Hutchinson Builders and is on track for completion in late-2027.

[smartcode_project:default project_id=135094 project_image_fid=341638]

The couple’s number one priority was to remain within easy commuting distance of the city for work. Murcia is positioned alongside the new Cross River Rail, with Woolloongabba Station just 300 metres from the front door.

They are currently living in their Annerley unit, which they have owned for several years, after recently moving out of their inner-city apartment, located on the very same street as Murcia.

“We had watched the development for a long time, and when construction activity began, that’s when we felt confident to buy,” Lois said.

[smartcode_project:default project_id=135094 project_image_fid=356540]

The timing also made sense. By moving back into their Annerley unit, they are able to save money ahead of settlement, while looking forward to returning closer to the city once Murcia is complete.

“We see Murcia as a forever home, as opposed to an investment, or something we need to appreciate massively in value and move on from in a few years,” Lois said.

“We secured an apartment large enough to grow a family, so we’re expecting to call Murcia home for a very long time.”

The couple plan to grow their family, but without the added maintenance demands of owning a standalone house further from the city. Working with Sarazin and architect HAL, they were able to slightly tweak the floorplan, converting the two-bedroom plus MPR layout into a functional three-bedroom apartment.

An added bonus was the recently revised communal space plans, which now incorporate a dedicated working-from-home area, complete with work pods, and shared desks.

“It means the third bedroom doesn’t have to become a part-time office and part-time bedroom,” Lois said, adding that residents have the benefit of working from home without actually being inside their apartment.

The rooftop wellness amenity was another standout compared to living in an established complex or a house. A signature feature of Sarazin developments, the rooftop will include a full gym, hot and cold plunge pools, a steam room and sauna, and a hotel-style pool with cabanas.

[smartcode_project:default project_id=135094 project_image_fid=214682]

Buyer journeys can vary significantly, from purchasing in the established market to buying new, or choosing between houses and apartments. Lois said they knew immediately that buying off the plan was right for them.

“We wanted something new, with less maintenance, and we weren’t quite ready to make the full financial leap straight away. The timing and deposit structure gave us the flexibility we needed.”

Designed by HAL Architects and inspired by the Spanish city of Murcia, the development takes a Mediterranean-influenced approach to architecture and landscaping, with a strong emphasis on shared spaces.

“The design feels considered, the amenities support how we actually live, and the location keeps us connected to the city without feeling right in the middle of it.”

Murcia is Sarazin’s second development in the area, following the completion of Silk One just up the road in 2022. They have several more projects coming to market in Woolloongabba ahead of the 2032 Brisbane Summer Olympics.

[smartcode_project_cta:default project_id=135094]

Joel Robinson

Close to the city, built for the future: Inside a growing family’s move to Murcia in East Brisbane

While most developers are aiming high across the Gold Coast, John Kearney’s <a href="https://www.apartments.com.au/developers/immerse-projects">Immerse Projects</a>&nbsp;has scaled back its plans for its Kirra Beach project.

As first reported by Apartments.com.au in April 2025, Immerse <a href="https://www.apartments.com.au/news/qld/first-look-immerse-projects-plan-new-apartments-at-kirra-beach">lodged plans for 105 apartments</a> on its 2,026 sqm Haig Street site.

The developer has now revised the proposal, reducing the 14-storey building to nine storeys and cutting the total number of apartments from 105 to 65.

The new scheme will also feature a broader mix of apartments. It will comprise 23 two-bedroom units, 17 three-bedroom units, and 25 four-bedroom apartments, the latter a configuration that was not included in the original proposal.

<img alt="Lot 11 C2859, 7 Haig Street, COOLANGATTA QLD 4225" data-entity-type="file" data-entity-uuid="972e3bbf-c3e6-4308-b098-5821e571f829" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Haig%20Street%20perspective%201.png?VersionId=3jkyNU0n7TW08DpkoEsY62bXWTb3UHxY" />

The building will rise to a compliant height of 29 metres, aligning with the Building Height Overlay.&nbsp;

The built form incorporates three basement levels accommodating 197 resident car parks and 13 visitor spaces, alongside storage and servicing areas. Level two is dedicated in part to communal amenity, including a lap pool along the western boundary, pool deck, spa and cold plunge pools, gym, work-from-home and meeting spaces, and landscaped areas designed to enhance privacy and outlook.

The typical floorplate will have eight apartments per level.

<img alt="Lot 11 C2859, 7 Haig Street, COOLANGATTA QLD 4225" data-entity-type="file" data-entity-uuid="002d2594-9cf4-4ee4-bb2a-9a0546ac1cc5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Haig%20Street%20site.png?VersionId=Qk.Cm0K9RziXrWu0Q4u2eOjEM3CwNhhC" />

The subject site is currently occupied by two 1970s-era walk-up buildings, Giraween and Caribbean, comprising 14 apartments.

Immerse Projects, led by building veteran John Kearney, who also heads construction firm Greyburn, has become increasingly active in the Kirra and broader southern Gold Coast market. The group recently completed Rhyhthm Kirra Hill on Garrick Street. They have another site locally, on McLean Street, which has approved plans for 58 apartments.

First Look: Immerse favours four-bed apartments in Kirra Beach switch

The development wave is continuing in the affluent suburb of Woollahra following last year’s planning reforms introduced by the Minns Labor Government.

In early 2025, the NSW Government implemented significant changes to its Low and Mid-Rise Housing Policy, altering planning controls to allow greater density for new apartment projects within an 800-metre walking distance of stations and town centres in the Woollahra Local Government Area, overriding existing local controls. Buildings are now permitted to rise up to six storeys within 400 metres of a station or centre, or eight storeys where affordable housing is incorporated, and up to four storeys within the 401 to 800 metre radius, which can increase to six storeys with affordable housing.

Since then, a significant number of development applications have been lodged, and numerous sites have transacted, some at record highs, with the increased density provisions now working in favour of developers.

Lower North Shore developer Abadeen are behind the latest project. They are planning a six-storey residential building at 101–115 Edgecliff Road, on the border of Woollahra and Bondi Junction.

<img alt="First Look: Lindos Group plans six-storey adaptive reuse apartment project in Woollahra’s Fletcher Precinct" data-entity-type="file" data-entity-uuid="17a75a04-3ecd-4b0f-af9f-54514690721b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Edgecliff%20DA%20front.png?VersionId=r0MiKualBGqKrjVj6hJZHsEiwl9QzF0D" />

The proposal would replace a trio of interwar flat buildings on the amalgamated 1,514 sqm site, which has three street frontages to Edgecliff Road, Adelaide Street and Australia Lane.

Importantly, as noted in the documents, the project represents a 200 per cent increase in bedroom density, from 32 bedrooms to 66, rather than a significant increase in the number of apartments, which will rise only slightly from 28 to 29.

The scheme proposes four one-bedroom units, 13 two-bedroom units, and 12 three-bedroom apartments. The submitted planning documents note that, based on market research and background analysis, one of the primary target markets will be downsizers seeking to remain in the local area while moving out of larger freestanding homes they no longer require.

“This allows for new housing supply opportunities beyond just the subject site,” the Design Report by architecture firm Squillace states. The current unit mix comprises 24 one-bedroom apartments and four two-bedroom units.

The top level of the new development will feature a rooftop deck with a pool, barbecue facilities, integrated seating, and a communal vegetable and herb garden.

“Providing these facilities is beneficial in encouraging increased interaction between occupants, which in turn fosters a greater sense of community,” Squillace’s report notes. The firm adds that the vegetable and herb garden, in particular, offers social value, with volunteering opportunities creating further interaction among residents.

<img alt="First Look: Lindos Group plans six-storey adaptive reuse apartment project in Woollahra’s Fletcher Precinct" data-entity-type="file" data-entity-uuid="9619b7bb-291d-417a-a006-f36d14a97cb1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Edgecliff%20DA%20perspective.png?VersionId=PYeMKcgOnEV7XVztARQ_YVDlvHcuyZaW" />

Squillace describes the intent as delivering additional housing supply while maintaining the heritage character of the Fletcher Precinct.

“Our objective is to design a high-quality benchmark building that enables considered additions and the adaptive reuse of the existing three brick residential flat buildings,” the architecture firm states.

The site is located within a heritage conservation area, with all three existing buildings identified as contributory items in the Woollahra Development Control Plan. Rather than pursuing wholesale demolition, the proposal retains the primary brick façades and tiled pitched roof forms along Edgecliff Road and Adelaide Street. New upper-level additions are set back from the existing parapets and articulated with horizontal and vertical shadow lines to provide visual separation.

“The proposed design seeks to retain the primary brick façades and roof forms to the street, demonstrating how existing building fabric can be preserved while increasing housing density within conservation areas,” the report adds.

Prior to Christmas, around <a href="https://www.apartments.com.au/news/nsw/rose-bay-apartment-market-fires-up-with-200m-in-new-developments-filed">$200m of new projects</a> were filed in Rose Bay alone, within the Woollahra LGA.

The suburb of Woollahra is subject to the most change in the Woollahra LGA, with the&nbsp;Minns Labor Government to deliver&nbsp;Sydney’s first new heavy rail station in more than a decade, enabling up to 10,000 new homes by rezoning land around&nbsp;<a href="https://www.apartments.com.au/developments/woollahra-nsw-2025" target="">Woollahra</a>&nbsp;and&nbsp;<a href="https://www.apartments.com.au/developments/edgecliff-nsw-2027" target="">Edgecliff</a>&nbsp;stations.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/next-stop-woollahra-train-station-delivering-up-to-10-000-new-homes-in-the-heart-of-sydney">Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney</a>

First Look: Woollahra development wave continues as Abadeen plots six-storey apartment block

<a href="https://www.apartments.com.au/new-apartments/crest-broadbeach-13-armrick-avenue-broadbeach-qld-4218">Crest Broadbeach</a> continues to record strong sales momentum more than a year after the launch of second tower, reinforcing buyer confidence in the <a href="https://www.apartments.com.au/developers/morris-property-group">Morris Property Group</a> development as construction progresses on site.

The two-tower project on Armrick Avenue is now around 70 per cent sold. Around 90 per cent of the apartments in the first tower have been snapped up, with more than 40 per cent of sales achieved in the second tower since its mid-2025 release. With both towers now under construction and completion targeted for late 2027, Crest continues to attract buyer interest well after its initial launch.

The project’s sales success reflects Morris Property Group’s long-standing commitment to premium locations, delivery certainty, and apartments designed for long-term owner-occupiers.

[smartcode_project:default project_id=112024 project_image_fid=343113]

Crest occupies a rare position on Armrick Avenue, a leafy Broadbeach address that has seen minimal apartment development despite the suburb’s wider growth. The site overlooks expansive green space, including Broadbeach Park and the neighbouring bowls club grounds, offering leafy outlooks and immediate access to open space just moments from the beach.

That scarcity has been a key driver of urgency, particularly among buyers seeking a full-time coastal residence in an area where new supply opportunities are increasingly limited.

Delivery certainty has also played a central role. Morris Property Group is delivering Crest using its in-house construction team, with both towers being built concurrently, providing buyers with clear construction visibility at a time when confidence in project timelines has become a decisive factor.

The developer’s long-standing presence in Broadbeach has further reinforced buyer confidence. Crest is Morris Property Group’s ninth apartment development in the suburb since 2006, following recently completed projects such as Malo Broadbeach and with Maison Broadbeach currently under construction nearby.

[smartcode_project:default project_id=112024 project_image_fid=5430]

Pricing has also been carefully positioned relative to comparable beachfront and near-beach product. With two and three-bedroom apartments starting from $1.199 million, Crest has attracted both local downsizers and interstate purchasers seeking value without compromising location or build quality.

According to Apartments.com.au enquiry data, interest has remained broad-based, with Queensland buyers forming the core market and New South Wales accounting for around 20 to 30 per cent of enquiries since early 2024.

Apartments have been designed with owner-occupiers in mind, prioritising generous floor plans, practical storage, and low ongoing costs. Hybrid timber flooring, Bosch appliances, ducted air conditioning with condensers positioned away from balconies, and low body corporate levies, averaging around $90 per week for two-bedroom apartments, have resonated with buyers planning to live in the building long term.

[smartcode_project:default project_id=112024 project_image_fid=286005]

Resident amenity has been curated to support everyday use rather than short-term spectacle, with a gym, pool, barbecue facilities and landscaped outdoor spaces integrated into the development.

As broader market conditions continue to reward projects that combine location discipline with delivery certainty, Crest’s sales performance highlights where buyer demand is consolidating in Broadbeach, towards established streets, proven developers, and apartments designed for permanence rather than turnover.

[smartcode_project_cta:default project_id=112024]

Sustained sales momentum underpins demand at Morris Property Group’s Crest Broadbeach

<article data-scroll-anchor="true" data-testid="conversation-turn-4" data-turn="assistant" data-turn-id="request-WEB:2cd0935f-64f2-4642-8736-f0c056a17aa8-1" dir="auto" tabindex="-1">
South East Queensland developer SIERA has lodged a development application for a 27-storey residential tower on Chevron Island, marking its third project in the Surfers Paradise area and second within the island precinct.

Designed by Gold Coast-based BDA Architecture, the proposal comprises 130 apartments across a slender tower positioned opposite Chevron Island Park. The 1,518 sqm site at <a href="https://www.apartments.com.au/new-apartments/17-19-anembo-street-surfers-paradise-qld-4217">17-21 Anembo Street</a> sits at the western entry to the island and offers protected view corridors towards the Nerang River and hinterland.

According to SIERA Founder Brent Thompson, the design intent has been to create what he describes as “a Queenslander in the sky,” with a narrow floorplate to minimise overshadowing, maximise cross-ventilation and respond to the subtropical microclimate.

The podium has been articulated with layered materials and cascading landscaping to provide a transition between the park frontage and the residential tower above. A full-floor communal amenity level on level four will capture elevated park and river views, providing residents with wellness and recreation facilities in a private setting.

<img alt="Siera" data-entity-type="file" data-entity-uuid="7d1008c8-e1b5-4923-a568-29f356068e3f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-02-16%20at%204.06.44%E2%80%AFPM.png?VersionId=p_0qI12aHgz3M8aHFbUoduXBOKDhcrqV" />

Thompson said the project continues the developer’s focus on Chevron Island, a precinct he believes has been “significantly underrated” but is now gaining broader recognition.

“The demand we’ve seen at Tapestry, nearing sell-out and completing later in 2026, confirms this is where Gold Coast residents want to live,” he said.

“It offers something rare: quiet neighbourhood character with wide, tree-lined streets, genuine local amenity, cafes, quality restaurants, medical services, daily necessities, and excellent connectivity to the light rail, beaches, river and HOTA, without feeling touristy or transient. As one of only two true island residential communities on the Gold Coast with limited development opportunity, this will become one of the coast’s most coveted addresses for those seeking a genuine residential lifestyle.”

Chevron Island has undergone steady evolution in recent years, benefiting from its proximity to HOTA and improved connectivity to Surfers Paradise and the light rail network. Thompson described the location as presenting “a unique window of opportunity”, noting that while buyer activity is strong, “pricing hasn’t yet caught up to comparable locations.”

“For buyers who understand the precinct’s trajectory, particularly its proximity to HOTA and the cultural activation happening there, this represents compelling value,” he said.

Apartment configurations will comprise two- and three-bedroom layouts targeted primarily at local owner-occupiers. Thompson said the homes are designed for “practical living,” with natural light, cross-ventilation and generous outdoor spaces central to the planning approach.

“We’re not chasing volume,” Thompson added. “We’re focused on delivering projects in the right locations for genuine owner-occupiers. Chevron Island offers an incredible combination of lifestyle, connectivity and value that we believe is significantly underappreciated in the broader Gold Coast market.”

The Anembo Street proposal follows SIERA’s 113-apartment Tapestry development on Chevron Island, currently under construction and due for completion in 2026. The developer recently completed Pipis in Bilinga and is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a 54-apartment project in Northcliffe, Surfers Paradise, in the second quarter of 2026, with 40 per cent of apartments reportedly secured ahead of its formal launch.

SIERA operates as a vertically integrated builder-developer, managing acquisition, design, sales and construction in-house.

“We’re builders at heart who develop exclusively for ourselves,” Thompson said. “We don’t build for others; we refine what we do for our residents and owners. That focus allows us to control and oversee every detail, every communication, every interaction with stakeholders from neighbours to owners to council. We’re relentless in pursuing thoughtful design for practical living.”

Pricing for the Anembo Street project has not yet been released and remains subject to development approval. The application is currently under assessment by Gold Coast City Council. If approved, construction is anticipated to commence in late 2026, with completion targeted for 2028.
</article>

First look: SIERA doubles down on Chevron Island with new tower plans 

Croydon

Ironside Construction has just wrapped up works on the $31 million Croydon project, Orphic.

Orphic, developed by Eastern Wellness with funding provided by Banner Asset Management, has 50 one, two and three-bedroom apartments across its five levels.

Prices started at $350,000 for the one-bedroom apartments. 
<a data-entity-type="file" data-entity-uuid="0b8be84d-136b-4caa-b7b4-97e30ead07cb" href="/buildings/orphic-176-mt-dandenong-road-croydon"><img alt="Orphic" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/EWA11272_176%20Mt%20Dandenong%20Rd%20Photography_44_8482%20%281%29.jpg?VersionId=L2IWt22DcyHHZYhUIYrYqYOzHFRiaTPg" /></a>

Banner Asset Management’s Founder and CEO Andrew Turner said Orphic was a natural investment opportunity for the group due to the experience of the developer, builder and project team.&nbsp;

“We’re pleased to see the development reach completion, with the project having achieved strong presales and pre-leasing prior to the commencement of construction, reflecting the strength of the project,” Turner said.&nbsp;

“As evidenced by the success of Orphic, well-priced, premium residences and commercial spaces in Croydon are clearly in demand, and we expect continued strength in this market.”

Designed by JAM Architects, the interiors are architecturally designed with a premium level of finishes, coupled with wide format porcelain tiles in the living areas, chrome taps and floor-to-ceiling tiles in the bathrooms.

Orphic’s façade incorporates a charcoal and cream colour palette with timber highlights. Greenery weaves throughout the exterior of the development, adding a natural touch.

<a data-entity-type="file" data-entity-uuid="57011c7a-cc73-4d79-98d6-587e6f07bc9d" href="/buildings/orphic-176-mt-dandenong-road-croydon"><img alt="Orphic" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/EWA11272_176%20Mt%20Dandenong%20Rd%20Photography_44_8892%20%281%29.jpg?VersionId=jxniwMYXTaqrLtAmsT1hM4FQVjtHDv3K" /></a>

Orphic’s ground level also includes space for five retail tenancies and an office tenancy, with the areas spanning from 118 sqm to 1,250 sqm, suiting a variety of business uses.&nbsp;

Situated within the epicentre of Croydon’s commercial and lifestyle precincts, residents have convenient access to a number of retail amenities, as well as educational opportunities, recreational parks and public transport, providing a seamless connection to Melbourne’s CBD, which is just 27-kilometres away.&nbsp;

[smartcode_project_cta:default project_id=5614]

Designed by JAM Architects, the interiors are architecturally designed with a premium level of finishes, coupled with wide format porcelain tiles in the living areas, chrome taps and floor-to-ceiling tiles in the bathrooms.

alisonwarters@gmail.com

Construction wraps on $31 million Orphic, Croydon apartments

The Croydon apartment development, L1ON Croydon in Sydney&#39;s inner west, has officially sold out.

Located at 1 Lion Street, Croydon, L1ON Croydon has 35 modern one, two and three-bedroom apartments across two buildings, behind a sleek fa&ccedil;ade designed by Benson McCormack Architects (BMA).

The project has been built and developed by construction veterans and renowned property developers Hone Constructions, who offer a unique combined approach to quality building with over 15 years of experience in the property industry.

Sydney&rsquo;s HAUS Agency sold out the project, which also features a number of two-level residences.

[smartcode_project:default project_id=95518 project_image_fid=191812]

&ldquo;We know that Croydon is a wonderful location, just 20 minutes from the CBD, and buyers that have been eager to secure their first home somewhere that makes commuting to work easy,&rdquo; Alexander Vrisakis, HAUS Agency Director, said.

&ldquo;We&rsquo;re really excited to bring such a unique building to the market in Enfield, a location that many don&rsquo;t realise is an area on the flanks of Sydney&rsquo;s Inner West experiencing a sustained expansion in terms of both key transport and lifestyle advantages,&rdquo; said Vrisakis.

&ldquo;At the heart of this domain is Coronation Park, a new and innovative approach to sophisticated yet affordable urban style.&quot;

[smartcode_project:default project_id=95518 project_image_fid=191799]

L1ON Croydon apartments feature&nbsp;Fisher &amp; Paykel appliances,&nbsp;engineered European oak flooring, Caesarstone kitchen benchtops, bespoke blinds and LED lighting throughout.

HAUS Agency didn&#39;t start marketing the apartments until they were nearly completed, a strategy which&nbsp;HAUS Agency Director Sean Dowling said saw them see success.

&quot;It&rsquo;s rare to find such high-quality apartments that are untouched and available to purchase now, with every apartment completed and ready to inspect,&quot; Dowling said.

The majority of sales have been to first home buyers looking to get a foot on the property ladder, but also local owner occupiers looking for something new, post-COVID-19.

[smartcode_project_cta: project_id=95518]

Located at 1 Lion Street, Croydon, L1ON Croydon offers 35 modern residences across two buildings within a sleek façade designed by Benson McCormack Architects (BMA).



L1ON Croydon apartment sell out

It&#39;s taken just three months for the newly completed Croydon apartment development, L1ON Croydon, to nearly sell all of its apartment.

The boutique development at 1 Lion Street, Croydon, in Sydney&#39;s inner-west, has just 35 apartments in the two buildings designed by Benson McCormack Architects.

The one, two and three-bedroom apartments have primarily been a hit with local first home buyers, as well as local&nbsp;owner-occupiers who took advantage of the dual-level apartments.

The project has been&nbsp;built and developed by construction veterans and property developers Hone Constructions, who have&nbsp;over 15 years&#39; experience in the property industry.

[smartcode_project:default project_id=95518 project_image_fid=191784]

&nbsp;

Alexander Vrisakis, director at HAUS Agency who has been handling the sales process, said the location of&nbsp;L1ON Croydon was a strong driver in purchasing.

&ldquo;We know that Croydon is a wonderful location, just 20 minutes from the CBD, and buyers that have been eager to secure their first home somewhere that makes commuting to work easy,&rdquo; Vrisakis said.

L1ON&nbsp;Croydon is close to both Ashfield and Croydon train stations, and is also well connected to the CBD by the extensive bus network. It sits within close proximity to&nbsp;parks, sports and aquatic centres, as well as public and private schools like PLC Sydney and De La Salle College Ashfield.

[smartcode_project:default project_id=95518 project_image_fid=191818]

Residents are also close to shopping centres like Westfield Burwood and Ashfield Mall, plus all the eateries, cafes and bars of nearby Haberfield and Burwood.

L1ON&nbsp;Croydon apartments are kitted out with&nbsp;Fisher &amp; Paykel appliances, engineered European oak flooring, Caesarstone kitchen benchtops and bespoke blinds and LED lighting throughout.

[smartcode_project:default project_id=95518 project_image_fid=191816]

HAUS Agency Director Sean Dowling said it&#39;s rare to find such high-quality apartments that are untouched and available to purchase now.

&ldquo;We&rsquo;ve seen solid results, with a big draw card being the fact that the development completed on 1st&nbsp;February *and is ready to move in now,&quot; Dowling said.

&nbsp;

One-bedroom apartments at L1ON&nbsp;Croydon&nbsp;are priced from $730,000.

[smartcode_project_cta: project_id=95518]

The one, two and three-bedroom apartments have primarily been a hit with local first home buyers, as well as local owner-occupiers who took advantage of the dual-level apartments

L1ON Croydon apartments snatch local first home buyers as sell-out approaches

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HTW expects there to be steady activity and growth within Melbourne’s outer eastern suburbs, however, it is possible that uncertainty in the market caused by international political decisions may result in activity being marginally subdued in comparison to 2016, according to its February 2017 update.
The valuation firm says that it expects that downsizers will continue to cash in on larger blocks as the supply of development sites reduces, particularly in areas such as Croydon, Mooroolbark and Kilsyth.
“Ringwood North is perhaps another suburb worth watching due to its proximity to Eastlink and Eastland shopping centre, as well as access to good schools,” the reports says.
“The suburb continues to increase in popularity among up-sizers and families.
“Larger blocks with subdivisional potential in the outer eastern suburbs tend to be considerably more affordable than blocks on the outskirts of the middle eastern suburbs such as Ringwood East.
“Additionally homes located in the far outer eastern suburbs such as Coldstream still represent good value, especially for those not required to be close to transport links or the rail network.”
HTW says Croydon South is also a suburb that tends to be relatively affordable and is therefore also a suburb that is likely to experience higher than average growth this year as first home buyers rush to take advantage of the record low interest rates.
Apartments in suburbs such as Croydon and Mooroolbark tend to be relatively affordable but buyers should be cautious about the quality of finish on many of these newly constructed buildings, the report states.
“However, it could be argued that the majority of these apartments are built for the investor market and therefore affordability would tend to be the overriding factor rather than quality.
“We believe that the resale value of these apartments may be adversely impacted in the future as a result of the below standard quality of fittings and fixtures.”
At the average price of $671,000 an investor can purchase a house such as the one at <a href="https://www.realestate.com.au/property-house-vic-croydon-124606754" target="_blank">2 Nuraylia Avenue</a>, Croydon (above) that is currently available for between $670,000 to $737,000.
Similarly at the average price of $490,000 an investor can purchase a unit such as the one at <a href="https://www.realestate.com.au/property-unit-vic-croydon-124343538" target="_blank">4/32 Dorset Road</a>, Croydon (below) that is available for $499,000.
<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/2017/02/15/4_32%20Dorset%20Road.jpg" alt="">
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jonathanchancellor-7SQnKwU6yx

Melbourne's Croydon attractive to first home buyers: HTW

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The former Croydon post office has sold for the first time in a quarter of a century. 
Situated at 1 &amp; 1A The Strand, the property comprises of two buildings - A medical practice that is leased for another five years, and a chemist.
It also includes off street parking for up to eight cars. 
Croydon Train Station is less than 50 metres from the property. 
The recent sale price has not been disclosed, however when it previously traded in 1993 it sold for $512,000.
Mark Clarke, from Ray White, listed the sale. 
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j.ballantyne1990-6AQqhLzZaK

Former Croydon post office sold

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A cafe/retail investment within the Merrindale Business Estate in Melbourne has been sold.
The property in Croydon South was marketed via a Private Sale By Closing Date campaign and sold prior to closing for $900,000 – representing a 4.68% yield.
It was sold by Jarrod Moran and Stan Dawidowski of CVA to a local investor.
The subject property comprises a building 142sqm is situated on an allotment of 818sqm.
It features a modern open plan dining area, service area with glass display cabinet, commercial kitchen, amenities, courtyard dining area, 12 onsite car spaces, perimeter fencing and security gates.
Leased to an established hospitality retailer trading as ‘Industrie Café’, the property returns a rental of $42,091.17 plus GST (on settlement) on a 7 year lease with 3 further 3 year options.
The property is easily accessible, with Dorset Road, Canterbury Road, Mount Dandenong Road and Eastlink via the Ringwood Bypass all within close proximity.
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Cafe in Melbourne's Merrindale Business Estate sold

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In terms of the best growth suburbs to invest in Melbourne, valuer John Costanzo believes there is still plenty of value to be had in Ringwood and Croydon, according to the latest Herron Todd White (HTW) residential report. 
"While the property market started 2019 on a positive note with more interest from buyers, auction clearance rates rising and banks chasing more business, another hurdle has been put in our way," the valuation firm said. 
"While the current slump in property values resembles those in 2008 during the global financial crisis, this time around, our economy is sound with interest rates at an all-time low." 
A four bedroom house positioned within a highly coveted cul-de-sac in Ringwood with views of Dandenong Ranges has recently been sold for $796,000.
Nestled on a 559 square metre allotment, the brick house at<a href="https://www.realestate.com.au/sold/property-house-vic-ringwood-129317002" target="_blank"> 4 Gibson Court</a> (pictured below) comprises master with built-children's playroom, three additional bedrooms, living and dining room with views, and sleek stone kitchen.
It has easy access to schools, shops and public transport. 
<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/2019/6/27/ringwood%20.jpg" alt="">
Another pick is Wantirna, according to the HTW report. 
"While Wantirna South’s median entered the $1 million club in 2018, its sister suburb Wantirna is inevitably next in line," the valuation firm commented. 
With a median house price of $960,600, it offers excellent transport links, schools and proximity to Westfield Knox Shopping Centre, which will undergo a long- awaited major redevelopment from November 2019.
A current listing is a three bedroom single level house priced between $880,000 to $960,000.
Situated at <a href="https://www.realestate.com.au/property-house-vic-wantirna-131232658" target="_blank">2 Fortescue Court, Wantirna</a> (pictured below), the house comes with master bedroom, two additional robed bedrooms, living and dining spaced with porcelain tiles, smart kitchen and family area. 
Additional features include ducted heating, split-system heating/cooling, salt-chlorinated in-ground pool with deck surround and double garage.
<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/2019/6/27/wantirna%20.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/6/27/east%20mel.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/6/27/east%20mel.jpg" alt=""> 
"Investors should start thinking about suburbs where infrastructure upgrades, particularly with links to transport, could put them at the top of the next boom.
"Buyers are still being cautious and with tighter lending conditions still in place, it’s likely the eastern Melbourne market will tread water in the latter half of 2019, although this will vary depending on local market conditions and demand. Only time will tell."
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Ringwood, Croydon and Wantirna - best suburbs to invest in Melbourne: HTW residential 

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The Maroondah Village Shopping Centre in Melbourne’s north-east has been listed for sale, representing one of the first Victorian neighbourhood shopping centres to be offered for sale in 2018.
The single level Croydon North neighbourhood shopping centre is anchored by a strongly trading Coles Supermarket.
There are 10 specialty retailers, spanning a site area of 9,707 square metres which includes 2,000 square metres of surplus land and 113 at grade car parks.
The centre is 98% leased with an annual net income of $850,000.
Located 30 kilometres north-east of the Melbourne CBD, the centre benefits from a rapidly rising population which is expected to see more than 20% growth by 2036.
"The very strong Asian demographic - a population now exceeding 20% of the region’s total population - has also seen the median house price rise to more than $1 million and a retail catchment with an increasing level of disposable income," according to CBRE agent Mark Wizel.
The zoning allows for more intensive mixed use development.
He said the current owners had purchased the centre with the idea of acquiring neighbouring sites to allow for future expansion of the Coles Supermarket or for a redevelopment of the entire property.
The owners successfully acquired those properties and they are now being offered with the existing shopping centre for sale.
"The opportunity for value add investors to acquire a well leased centre like this one at a price point of under $20 million is something very rare in any metropolitan location not only in Victoria but along the entire eastern seaboard,’’ Wizel said.
The offering, which follows the recent on-market campaign of the Stockland owned Highlands Shopping Centre, sees offers closing March 29.
 
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Maroondah Village shopping centre on the market

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A 1940's home in Victoria's suburb of Croydon is on the market with a price guide from between $2.35 to $2.585 million.
The property, <a href="https://www.realestate.com.au/property-house-vic-croydon-126088838" target="_blank">5 Kenmare Ave, Croydon</a>, is a five-bedroom home on a 1943sqm block was purchased around eight years ago by antique dealers.
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<img class="size-full wp-image-207464" src="https://www.realestate.com.au/blog/wp-content/uploads/2017/08/13120033/capi_131aef075140a8e2c06537c34a1fd9d8_3e0bcf6cb217a64d3fbd0a95efb51cc3.jpeg" alt="5 Kenmare Ave, Croydon. For Herald Sun Realestate" data-capiid="3e0bcf6cb217a64d3fbd0a95efb51cc3"> 
Chris Price, McGrath, Croydon, agent said most of the sash and leadlight windows are from country Victoria, the island bench in the kitchen is a remodelled Victorian-era shop counter with a porcelain butler’s sink, the buffet and hutches are from a church and date back to 1910, and the period lights and switches are French and English. 
“It is probably Croydon’s finest character period home,” he said.
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<div class="wp-caption"><img class="size-full wp-image-207465" src="https://www.realestate.com.au/blog/wp-content/uploads/2017/08/13120037/capi_131aef075140a8e2c06537c34a1fd9d8_64f3857832b876215be6753c90df6dbe.jpeg" alt="5 Kenmare Ave, Croydon. For Herald Sun Realestate" data-capiid="64f3857832b876215be6753c90df6dbe"></div>
 
The turret has 270-degree views.
A formal lounge with a circular sitting room is beneath the turret. The home also has a rumpus room, study, decorative fireplaces and a heated pool.
<div class="wp-caption"><img class="size-full wp-image-207466" src="https://www.realestate.com.au/blog/wp-content/uploads/2017/08/13120041/capi_131aef075140a8e2c06537c34a1fd9d8_f822df56fb8d08fcec8475ddbcfd0552.jpeg" alt="5 Kenmare Ave, Croydon. For Herald Sun Realestate" data-capiid="f822df56fb8d08fcec8475ddbcfd0552"></div>
The property is going to auction 2pm September 23.
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1940s home in Victoria's Croydon listed

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Melbourne’s median house price has increased for the fifth consecutive quarter.
New REIV data shows the metropolitan Melbourne median house price rose 2.9 per cent in the three months to June 30, to $822,000.      The city’s middle and outer suburbs were the main growth drivers in the June quarter with both regions up by more than three per cent.   Top performing suburbs were widespread across Melbourne and at both ends of the market – from Broadmeadows and Roxburgh Park in the north to Malvern East and Toorak in the south-east.   Croydon in the outer east experienced the city’s largest quarterly increase, up more than 20 per cent to a median of $810,000.     REIV Acting President Richard Simpson said Melbourne’s property market continues to perform strongly, boosted by a buoyant auction market.   “It has been an exceptional year for the property sector with numerous auction records falling in the first half of 2017,” he said.   “More than 10,300 homes have gone under the hammer in the June quarter – a record for this time of year.   “Price growth is being supported by a number of key factors, including unprecedented population increases, record low interest rates and strong buyer demand.   “It’s certainly a sellers’ market at present with strong competition for homes across the city, particularly in Melbourne’s more affordable areas. “Half of the suburbs making the top growth list this quarter are priced below the citywide median, suggesting buyers continue to seek value further from the city.”   Mr Simpson added that the city’s apartment sector had also performed strongly in the June quarter with the metropolitan Melbourne median increasing 4.3 per cent to $606,500.   “Contrary to popular opinion, Melbourne’s apartment market has been growing steadily for the past year with strong price growth in inner city areas.”   House prices in regional Victoria rose strongly for the second consecutive quarter, up two per cent in June to a record high $385,000.
<h3>June Quarter 2017 Metropolitan Median Prices</h3>
Prices for regional Victoria are also <a href="https://www.reiv.com.au/RESEARCH/Sales-Data/Median-Prices-in-the-Regions">available</a>.
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<td>Metro Melbourne</td>
<td>Jun-17 Quarter</td>
<td>Quarterly Change</td>
<td>Mar-17 Quarter</td>
<td>Annual Change</td>
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<td>House</td>
<td>$822,000</td>
<td>2.90%</td>
<td>$799,000</td>
<td>10.30%</td>
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<td>Unit</td>
<td>$606,500</td>
<td>4.30%</td>
<td>$581,500</td>
<td>7.70%</td>
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<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
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<td>Inner</td>
<td>Jun-17 Quarter</td>
<td>Quarterly Change</td>
<td>Mar-17 Quarter</td>
<td>Annual Change</td>
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<td>House</td>
<td>$1,468,000</td>
<td>-2.10%</td>
<td>$1,500,000</td>
<td>14.20%</td>
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<td>Unit</td>
<td>$630,500</td>
<td>6.50%</td>
<td>$592,000</td>
<td>6.30%</td>
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<tr>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td>Middle</td>
<td>Jun-17 Quarter</td>
<td>Quarterly Change</td>
<td>Mar-17 Quarter</td>
<td>Annual Change</td>
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<tr>
<td>House</td>
<td>$991,500</td>
<td>3.20%</td>
<td>$961,000</td>
<td>10.00%</td>
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<tr>
<td>Unit</td>
<td>$681,000</td>
<td>6.70%</td>
<td>$638,500</td>
<td>7.70%</td>
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<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
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<td>Outer</td>
<td>Jun-17 Quarter</td>
<td>Quarterly Change</td>
<td>Mar-17 Quarter</td>
<td>Annual Change</td>
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<td>House</td>
<td>$642,000</td>
<td>3.70%</td>
<td>$619,000</td>
<td>9.80%</td>
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<td>Unit</td>
<td>$490,000</td>
<td>4.30%</td>
<td>$470,000</td>
<td>8.70%</td>
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*All quarterly median prices are seasonally adjusted and quarterly. Annual change is based on rolling annual figures.
<h3>Metropolitan Median Prices Over Time</h3>
The graph below depicts median house and unit prices in Melbourne over the past decade in seasonally adjusted terms. <a href="https://www.reiv.com.au/getattachment/PROPERTY-DATA/Median-Prices/Pg13_Median-price-Metro_Sep-Q-2015.png.aspx"><img src="https://www.reiv.com.au/property-data/premium-research/research-bulletin/metro-median-jun-2017.aspx" alt=""></a> Recent sales in Croydon at around its new median included the four bedroom home at <a href="https://www.realestate.com.au/sold/property-house-vic-croydon-125704550" target="_blank">40 Cherry Tree Grove, Croydon</a> for $865,000 (below).
<img src="https://www.urban.com.au/images/2017/07/18/Screen%20Shot%202017-07-18%20at%209.40.50%20AM.png" alt="">
The three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-vic-croydon-125633226" target="_blank">9 Joffre Street, Croydon</a> (below), recently sold for $810,000.
<img src="https://www.urban.com.au/images/2017/07/18/Screen%20Shot%202017-07-18%20at%209.43.28%20AM.png" alt="">
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