&nbsp;

A local Australian has spent a Lower North Shore record $15.1 million at <a href="https://www.apartments.com.au/new-apartments/elevate-hume-place-crows-nest-25-hume-street-crows-nest-nsw-2065">Elevate Hume Place</a>, the new TOD above the recently opened Crows Nest Metro Station.

The buyer amalgamated a penthouse and sub-penthouse to create the triplex apartment that will have five bedrooms, five bathrooms, a private rooftop pool, expansive terrace, and panoramic views of Sydney Harbour and skyline. The building is being created by burgeoning developer Third.i, alongside joint venture partner Phoenix Property Investors.

The buyer was drawn to Elevate’s unrivalled connectivity, situated directly above the&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a> Metro Station, and the vibrant lifestyle precinct that surrounds it. The Metro connects to the CBD in just seven minutes, and Chatswood in four.

[smartcode_project:default project_id=142550 project_image_fid=309367]

Designed by internationally acclaimed architects <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, Elevate draws inspiration from the ancient blue gum forests native to the area. The building is a Net Zero development, created in consultation with Indigenous communities and exceeding sustainability benchmarks. Interiors feature chevron-engineered timber flooring, natural stone benchtops, and premium Sub-Zero Wolf appliances, delivering timeless elegance and next-level comfort.

The exchange of the $15.1 million apartment, follows a recent $5 million sale, and over $30 million currently in expressions of interests. Interest in Elevate’s penthouse stock has surged, reflecting a strong appetite for ultra-luxury residences that combine design excellence with unmatched connectivity.

[smartcode_project:default project_id=142550 project_image_fid=309369]

“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group.&nbsp;

“These recent sales are a testament to the vision behind Elevate. It’s not just about luxury finishes or panoramic views, it’s about creating homes that are deeply connected to the city and the community. Buyers are responding to that. They want to live somewhere that offers more than just a postcode, they want culture, convenience, and long-term value. Elevate delivers all of that, and more.”

[smartcode_project:default project_id=142550 project_image_fid=297878]

As part of the Hume Place precinct, Elevate is transforming Crows Nest into Sydney’s most dynamic urban village. Elevate’s unique position directly above the metro, combined with its curated amenity offering, has made it a magnet for buyers seeking a future-proof investment and a vibrant urban lifestyle.

The next release at Elevate is expected later this year.

[smartcode_project_cta:default project_id=142550]

“We’re seeing a significant uptick in interest from local and international buyers who are prioritising connectivity, sustainability, and lifestyle,” said Callum Billinghurst, Head of Sales at Third.i Group


Joel Robinson

Third.i & PPI set Lower North Shore apartment record with $15.1m sale at Elevate Hume Place penthouse amalgamation

Sydney developer Deicorp is set to officially open its <a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill-nsw-2154">Showground Village</a> precinct in Castle Hill.

NSW Premier Chris Minns will attend the opening on Sunday August 31, alongside&nbsp;Minister for Planning and Public Spaces Paul Scully, The Hills Shire Council Mayor Dr Michelle Byrne, Landcom CEO Alex Wendler, and Deicorp Founder Fouad Deiri.

Located just moments from Hills Showground Metro Station, the centre spans 9,500 sqm across four levels and features 26 specialty retailers as well as a 1,400 sqm public plaza, creating a new community meeting point for shopping, dining, fitness, and everyday convenience.&nbsp;

Showground Village forms part of the Hills Showground Station Precinct, an urban renewal initiative led by Landcom and Sydney Metro that will provide for around 2,300 new jobs over the next 20 years and around 9,000 new homes.&nbsp;

Deicorp was recently approved for another new development next door to Showground Village.

The new five residential buildings in the East Showgrounds Precinct, will see another 873 dwellings delivered, as well as&nbsp;3,500 sqm of open public space in the form of landscaped courtyards, a public park and communal outdoor recreational space including a playground, barbeque area, and outdoor seating.

“This approval will allow us to start construction on a range of beautifully designed, conveniently located apartments and create another vibrant, walkable and well-connected community,” said&nbsp;<a href="https://www.apartments.com.au/developers/deicorp" target="">Deicorp</a>&nbsp;Founder Fouad Deiri.

“These new homes will provide their residents with a seamless connection to jobs and services along Metro North West, and the new&nbsp;<a href="https://www.apartments.com.au/new-apartments/hills-showground-village-castle-hill-2-mandala-parade-castle-hill" target="">Hills Showground Village</a>&nbsp;retail precinct currently under construction."

Deicorp has several thousand apartments in planning and under construction across Sydney, from Zetland and Five Dock to Crows Nest and Macquarie Park.

[smartcode_project_cta:default project_id=133881]

Deicorp, NSW Premier officially open Showground Village, new retail and hospitality hub in Castle Hill

ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

&nbsp;

<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

&nbsp;

There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

Days On Market

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Over recent months the average number of days it takes to sell a residential property has been falling, reflecting the overall improvement in housing market conditions.
The average days on market figure provides valuable insight into the performance of the housing market.  The figure measures the average difference between the date at which a property is listed for sale and the day at which it goes under contract. The figure is only calculated across those properties that sold by private treaty, excluding tenders and auction sales.  When homes are selling quicker it points to stronger buyer demand and vice versa.
Across the combined capital cities, it took an average of 38 days to sell a home in December 2016. This figure was lower than the 41 days a year earlier and is down from high throughout 2016 of 50 days in August 2016. 
Four of the eight capital cities now have an average days on market figure below 40 days while most of the other capital cities are now seeing the days on market figure starting to trend lower.
<a href="https://www.propertyobserver.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.41.37%20AM.png" target="_blank">Click to enlarge</a>
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The typical Sydney dwelling sold after an average of 33 days in December 2016 compared to 39 days in December 2015.
Melbourne dwellings took an average of 35 days to sell in December 2015 with the figure falling to an historic low of 29 days at the end of 2016. 
<a href="https://www.propertyobserver.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.43.15%20AM.png" target="_blank">Click to enlarge</a>
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Dwellings were taking an average of 57 days to sell at the end of 2016 in Brisbane compared to 43 days a year earlier.  Brisbane is only city in which the days on market figure has trended higher.
Adelaide dwellings were taking 43 days to sell at the end of last year, which is as long as they were taking a year earlier however, the days on market figure has fallen over recent months.
<a href="https://www.propertyobserver.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.44.20%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.44.20%20AM.png" alt=""> 
The typical Perth dwelling was taking 65 days to sell at the end of 2016 compared to 58 days at the end of 2015 however, the days on market figure has reduced over the past few months.
Hobart has recorded a large fall in the days on market figure over the past year, reducing from 47 days in December 2015 to 35 days in December 2016.
<a href="https://www.propertyobserver.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.45.17%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.45.17%20AM.png" alt="">
Dwellings in Darwin were taking an average of 86 days to sell at the end of 2016, up from 74 days at the end of 2015 however, over recent months the figure has begun to fall.
At the end of 2015, the typical Canberra dwelling was taking 47 days to sell compared to 37 days at the end of 2016.
<a href="https://www.propertyobserver.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.46.13%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/14/Screen%20Shot%202017-02-14%20at%208.46.13%20AM.png" alt="">
The days on market figures will be important to follow throughout 2017.  After the current growth phase has run for more than four and a half years, we are still seeing a rapid rate of sale in Sydney and Melbourne.  Low levels of stock available for sale and many willing purchases continue to drive a rapid rate of sale in Sydney and Melbourne while the rate of sale is improving in most other capital cities. 
The days on market figure will provide a good indication of the strength of individual housing markets throughout 2017.  Keep in mind that the next two months of data (January and February) will show the regular seasonal spike but thereafter the data will be much more representative of the housing market’s performance across each capital city.
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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Melbourne properties selling the fastest of any capital city: Cameron Kusher 

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Houses in Victoria are taking much less time to sell, according to latest Days on Market data from REIV.
The data revealed that the average Melbourne house takes 34 days to sell, down from 42 days this time last year when the housing market was still declining.
Outer Melbourne is the fastest-selling area in Metro Melbourne, with suburbs in the outer ring taking just 33 days to sell on average, marginally ahead of Middle Melbourne on 34 days.
Inner Melbourne homes are taking 41 days to sell.
Warranwood and Montrose in Melbourne’s East have the shortest waiting periods across Victoria, with the average property taking just 15 and 16 days to sell.
The biggest reduction in waiting time over the past 12 months was seen at Travancore, with the average home now spending just 42 days to sell, down from 65 in January 2019.
Days on Market stats remain stable in regional Victoria with a house taking 55 days to sell during January, the same as in December 2019.
Brown Hill and Winter Valley in Ballarat have the shortest waiting period across Regional Victoria, with the average property taking just 22 days to sell. Daylesford is close behind on 25 days. 
The regional Victorian suburb with the greatest drop since Jan 2019 was Cohuna on the Murray River, with a home now taking 98 days to sell down from 228 last year.
REIV President Leah Calnan said having homes sell fast is a true sign of a strong market.
“The Melbourne real estate sector is in great shape, and eager buyers can’t wait to get into a new home", Calnan said.
"Demand is high, local agents are being flooded with enquiries as soon as they list a new home for sale.”
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Victorian homes selling quicker than in previous years; REIV study

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Line honors goes to Australia’s top performing capital city Hobart, according to CoreLogic research analyst Cameron Kusher.
It had been a standout performer with the strongest market conditions over the past year in terms of value growth.
One suburb of Mornington, set 7kms from the Hobart CBD, recorded the shortest days on market for house sales in the country.
"In fact, the five suburbs with the shortest days on market for houses in Hobart have a shorter time on market than the fastest selling suburbs in each other capital city," Kusher noted.
In Sydney and Melbourne, the suburbs to record the shortest days on market figures for houses are typically located on the outskirts of the city and all hold median house values which are lower than the city-wide medians.
“This is reflective of much stronger demand, particularly over the second half of the year, for lower valued housing in both of these cities,” Kusher said.
In Brisbane, the fastest selling suburbs are typically reasonably close to the city centre with values only slightly higher than the city-wide median. 
“Unlike Sydney and Melbourne, affordability is less challenging in Brisbane and there hasn’t been any recent policy changes for first home buyers to boost demand at the more affordable end of the pricing range like in Sydney and Melbourne." 
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Adelaide’s fastest selling suburbs are typically quite close to the city centre with three of the five having median values well above the city-wide median with the remaining two suburbs (Saint Mary’s and Park Holme) slightly above the median. 
Similar to Brisbane, affordability is less challenging in Adelaide rela"tive to the larger cities and buyers are likely to be viewing inner city areas offering good value."
In Perth, Heathbridge, one of the five suburbs listed has a median value below the city-wide median while the other four suburbs are relatively closer to the city centre and have higher values. 
Kusher noted that housing demand was weaker across Perth since 2014, but more recently sales volumes have been improving after values have fallen by around 12% since their peak. 
The fastest selling homes in Darwin have a longer days on market figure compared to the other capital cities; a reflection of the tough selling conditions and soft housing demand. These suburbs are all located relatively close to the city centre and all have median values above the city-wide median. 
In Canberra, the fastest selling suburbs are generally located around the suburban fringe. 
Charnwood and Holt have median house values which are below the city-wide median, although not substantially so. Hackett is the only suburb not within the Belconnen District of the city. 
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CoreLogic's fastest selling capital city suburbs, houses, 12 months to December 2017 
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For units, Taylors Hill in Melbourne and Bellerive and Montrose, both of which are in Hobart, have the shortest days on market at just eight days. 
In Sydney, the fastest selling suburbs for units are quite mixed, however each of the suburbs are located outside of the inner suburbs. Cherrybrook and Russell Lea have median values higher than the Sydney median. Panania is slightly below the city-wide median while the cost of units in North Gosford and Ourimbah on the Central Coast is significantly lower than the city-wide median. 
The five fastest selling suburbs for units in Melbourne are all located in outer areas of the city. The five suburbs also have median unit values which are substantially lower than the median for Greater Melbourne, suggesting buyers are seeking out more affordable housing options. 
Brisbane’s suburbs with the shortest days on market for units are all located within the Brisbane council area and they all have a median value under $400,000; only Wishart and Windsor have a median value which is higher than the Greater Brisbane median. 
Four of the five fastest selling unit markets in Adelaide have a median value which is higher than the Greater Adelaide median, suggesting demand is strong at the higher priced end of the market. Each of the five suburbs are located within close proximity to the city centre. 
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Four of the five suburbs with the fewest days on markets for units in Perth have median values which were well above the Greater Perth median. In fact, a number of the suburbs are amongst some of the most expensive unit markets in the city sitting within some of the most prestigious suburbs. 
Sandy Bay was the only suburb to make the list of fastest selling unit markets in Hobart with a median value above the city-wide median. Montrose is the only suburb which is not particularly close to the city centre. 
Units are typically taking much longer to sell in Darwin than they are elsewhere. All of the fastest selling markets are reasonably close to the city centre. 
Across Canberra, three of the five fastest selling unit markets are located within the Gungahlin district. Meanwhile, Amaroo and Page are the only suburbs that have higher median unit values than the Canberra median. 
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CoreLogic's fastest selling capital city suburbs, units, 12 months to December 2017 
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j.ballantyne1990-6AQqhLzZaK

The fastest selling suburbs where homes are flying off the shelves 

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The median number of days on market shortened by a day to 31 days in August.
It sits 12 days shorter than the same time last year.
But according to the REIV, regional Victoria <a href="/news">time on market is increasing</a>.
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Days On Market

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