One of Brisbane's last major riverfront redevelopment opportunities has taken a significant step forward, with Lendlease selected as the Queensland Government's preferred development partner for the former Visy site in South Brisbane.

The seven-hectare industrial site, positioned between South Bank and West End and 1.3 kilometres from the Brisbane CBD, will be transformed into a mixed-use precinct expected to deliver more than 4,000 new homes alongside extensive public open space and riverfront parkland.

The project is one of the largest urban renewal opportunities currently planned in Brisbane and is expected to play a key role in accommodating the city's growing population ahead of the 2032 Olympic and Paralympic Games.

Plans for the precinct include a network of riverfront promenades and boardwalks, new public plazas, parkland, amphitheatre-style gathering spaces and shared pedestrian and cycling links designed to reconnect the long-isolated site with the Brisbane River.

The Queensland Government is targeting delivery of the first homes and key public spaces before the 2032 Games, allowing the precinct to begin contributing new housing and public amenity well before the broader masterplan is complete.

The redevelopment is also expected to support more than 3,000 jobs across planning, construction and ongoing operations.

For Lendlease, the appointment adds another major urban regeneration project to its Queensland portfolio. The developer has operated in the state for more than 70 years and has delivered a number of large-scale mixed-use precincts in partnership with government.

Lendlease Development CEO Claire Johnston said the project represented one of Brisbane's most significant redevelopment opportunities.

"The transformation of the former Visy site represents a rare opportunity to reimagine one of Brisbane's most significant riverfront locations, deliver thousands of much-needed homes, and create long-term legacy," Johnston said.

"In partnership with the Queensland Government, we have the opportunity to create a new riverside destination that will help shape Brisbane's growth and how people experience the city for decades to come.

"This is exactly the type of large-scale, city-shaping development that will provide lasting benefits for Queensland, bringing together housing, jobs and world-class public spaces."

Deputy Premier and Minister for State Development, Infrastructure and Planning Jarrod Bleijie said the riverfront transformation would deliver a thriving new community precinct.

“The Crisafulli Government is delivering this golden opportunity to unlock a riverfront jewel for all Queenslanders,” Deputy Premier Bleijie said.

“This is a once-in-a-generation moment to reshape a significant slice of Brisbane and deliver lasting benefits – thousands of new homes, and public spaces for all Queenslanders to enjoy well beyond the 2032 Olympic and Paralympic Games – unlike Labor’s plan which would have delivered zero benefits and zero new homes.

“Queensland is well and truly open for business and through partnership with the private sector, we are accelerating delivery while ensuring strong housing, community and economic outcomes."

Early works on the precinct are expected to commence in April 2027.

Joel Robinson

Lendlease selected to deliver transformative South Brisbane riverfront precinct

Eddy Haddad's <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> is levelling up its approved Wollongong development, as the coastal city south of Sydney continues to prove popular in the high-density development space.

Level 33, a longtime developer in the Wollongong area, has gone through the NSW Government's Housing Delivery Authority to upsize its approved two-tower development on the corner of Crown Street and Gladstone Avenue, just 100 metres from Wollongong Station.

The developer currently has approval for 252 apartments across two buildings rising to 19 storeys. It is now seeking approval for 33 and 38-storey towers that would deliver 467 apartments, including 67 affordable homes.

Designed by <a href="https://www.apartments.com.au/architects/bka-architecture">BKA Architecture</a>, the development would comprise apartments above a three-level podium with around 1,100 sqm of retail space, along with basement parking for 448 vehicles.

According to the Urban Design Report by BKA, the proposal has the capacity to "reinforce the precinct's identity by strengthening links between health, education, and transport services, while also contributing to Wollongong's ongoing evolution as a key regional centre."

Wollongong is somewhat in vogue. Between Level 33 and Urban Property Group, the two developers have several thousand apartments planned across the city.

Level 33 is currently delivering Easterly Wollongong, one of its most boutique projects to date with just 21 high-end apartments, as well as Atchison &amp; Kenny, a 329-apartment development due for completion later this year.

The developer plans to redevelop the 13,088 sqm WIN Grand megasite into <a href="https://www.apartments.com.au/new-apartments/crown-square-216-238-keira-street-wollongong-nsw-2500">Crown Square</a>, a new $500 million precinct with nearly 600 apartments. It also has more than 900 apartments planned for the former Bunnings Warehouse site at the intersection of Gipps and Flinders streets.

Urban Property Group is also playing a major role in the city's transformation. Its five-tower Keira Place precinct will deliver more than 800 homes, and it has recently lodged plans for a further 300 apartments near Wollongong Station.

First look: Level 33 upsizes Wollongong apartment towers

Just a week after filing plans for the final stage of its major Keira Place masterplan, <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has unveiled another significant housing proposal in Wollongong, this time targeting a prominent site opposite North Wollongong Station.

The developer has lodged a State Significant Development Application for a 38-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/4-4a-flinders-street-north-wollongong-nsw-2500">4-4A Flinders Street</a>, around one kilometre north of the <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place precinct</a> currently taking shape on the edge of the CBD.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="2b6428f1-6405-4038-8476-897de440e90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium.png?VersionId=QLqEvK0OuCEwRC47oHNftrw2B1YqaHF8" />

Designed by Studio.SC, the proposal comprises a 38-storey mixed-use development containing 303 apartments, including 45 affordable housing units, alongside 174 co-living residences. The scheme also includes ground-floor retail space, extensive landscaping and public domain improvements.

Studio.SC noted in the proposal it "outlines a vision for a landmark transit-oriented mixed-use development centred around North Wollongong Station, designed to support the city’s future growth while responding to the NSW Government’s housing and planning reforms."

The architecture firm said the proposal responds to the opportunities and constraints shaping future growth within the 400-metre catchment of the station and represents "a coordinated and future-focused approach to urban intensification, contributing to the long-term evolution of North Wollongong as a connected, walkable and high-density station precinct."

The site occupies a strategic corner bounded by Flinders Street, Station Street, Stafford Street and the Princes Highway, directly opposite North Wollongong Station.

<img alt="First look: Urban Property Group plans 38-storey North Wollongong tower as Keira Place expansion gathers pace" data-entity-type="file" data-entity-uuid="7863adad-1f71-4022-b850-f44b252738fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/flinders%20podium%20a.png?VersionId=WsU7av0g8_8R2tGHWxgHeFSlhu7yeY1V" />

The proposal follows Urban Property Group's recent submission for the second and final stage of Keira Place, which would deliver a further three buildings comprising 657 homes opposite Beaton Park. It builds on the first stage, which features 150 apartments across two towers and recently commenced construction.

Urban Property Group CEO Patrick Elias said breaking ground on the first stage marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.

"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.

"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/urban-property-group-unveils-trio-of-towers-for-next-stage-of-new-wollongong-precinct-keira-place">Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place</a>

First look: Urban Property Group plans next major Wollongong tower

<a href="https://www.apartments.com.au/developers/arada">Arada</a> has wasted little time expanding its ambitions in Campsie, lodging plans for a second major project in the rapidly transforming town centre just months after unveiling its three-tower One Campsie proposal on Beamish Street.

The UAE-backed developer has now taken aim at one of the suburb’s most strategically positioned sites, filing a State Significant Development Application for a <a href="https://www.apartments.com.au/new-apartments/10-north-parade-campsie-nsw-2194">33-storey mixed-use tower</a> at 10 London Street and 43 North Parade, directly opposite the future Campsie Metro Station. The proposal is currently on public exhibition and represents another significant vote of confidence in Campsie's emergence as one of Sydney’s key transit-oriented growth centres.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the development would deliver 156 apartments above a podium containing retail and commercial space, creating a new residential and commercial gateway to the town centre. The scheme also includes a four-level above-ground parking podium and a dedicated residential amenity floor featuring wellness and recreation facilities. At least 10 per cent of the apartments would be allocated as affordable housing for a period of 10 years.

The proposal occupies a 1,631 sqm site bounded by London Street, North Parade and Dispensary Lane, immediately adjoining the future Metro station precinct and just metres from Beamish Street’s retail and dining strip. According to the Urban Design Report, the project seeks to deliver "a great place that prioritises human-scaled experience and provides spatial improvements to the area."

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="175a8324-015b-4856-abe3-ce6f23199fa7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium%20campsie.png?VersionId=742UGwXFhFBX4GEl6wX4PYIWREAgn6il" />

Woods Bagot describes the tower as a key marker within Campsie's next phase of growth.

"Located directly opposite the new Campsie Metro Station on North Parade, 10 London Street is a thoughtfully composed 33-storey mixed-use tower that contributes to the ongoing transformation of the town centre," the Architectural Design Report states. The report says the project is intended to provide "high-quality homes within a vibrant, connected urban environment, while helping define Campsie's future skyline."

A strong emphasis has been placed on the public realm. The ground floor incorporates over 500 sqm of retail space and active frontages along both London Street and North Parade, while the podium is wrapped by extensive landscaped planting intended to soften the building's scale and strengthen the pedestrian experience. The development would also widen surrounding footpaths and improve connections between the Metro station and the broader town centre.

Above the podium, residents would have access to more than 1,400 sqm of communal amenities, including a pool, gym and landscaped recreation spaces. A distinctive green-wall treatment extending across four podium levels forms a major architectural feature, helping differentiate the project within the emerging high-density precinct.

The tower's design is closely tied to the broader Campsie Town Centre Master Plan and the arrival of Sydney Metro. The Urban Design Report notes the proposal "directly supports the Campsie Town Centre Master Plan by delivering new homes in a location explicitly identified for growth, improved accessibility, and high-quality urban renewal." It adds that the project contributes to the master plan's vision for a strengthened town centre supported by thousands of new homes around the future Metro station.

<img alt="First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans" data-entity-type="file" data-entity-uuid="bfd17654-253e-489a-bade-6278d63db412" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/base%20campsie.png?VersionId=3roJPMQGs36dazpkhvpvbDDP73Ld.Ica" />

The application follows Arada's recently lodged One Campsie project at 124–142 Beamish Street and 16–18 Ninth Avenue, where the developer is seeking approval for 346 apartments across three towers rising 24, 32 and 39 storeys. Together, the two proposals would cement Arada as one of the most influential developers shaping Campsie's future urban form.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-arada-files-for-trio-of-apartment-towers-in-campsie-town-centre">First Look: Arada files for trio of apartment towers in Campsie town centre</a>

Arada entered the Australian market in 2024 and has rapidly assembled a significant development pipeline across Sydney. Alongside its Campsie holdings, the developer is soon to launch <a href="https://www.apartments.com.au/new-apartments/wattle-green-2-fishburn-crescent-castle-hill-nsw-2154">Wattle Green</a> in Castle Hill, and has expanded its local operations following its acquisition of construction firm Roberts &amp; Co.

Located around 14 kilometres south-west of the Sydney CBD, the site sits at the centre of one of Sydney's fastest-changing middle-ring precincts. The Metro conversion of Campsie Station, combined with Canterbury-Bankstown Council's master planning framework, is driving significant residential intensification around Beamish Street and North Parade, with thousands of new homes expected over coming decades.

First look: Arada doubles down in Campsie with 33-storey Metro-front tower plans

For the first time in a long time, Australia's inflation story is starting to look more like a landing than a fight.

The latest Consumer Price Index figures from the Australian Bureau of Statistics showed annual inflation eased to four per cent in May, down from 4.2 per cent in April. On the surface, that might not seem like a major move. Inflation remains above the Reserve Bank's target range and some categories continue to record stubborn price growth.

But the significance of this result lies less in where inflation sits today and more in what it means for where interest rates are likely heading next.

The biggest takeaway is that inflation continues to move in the right direction.

Markets had been bracing for another sticky result after a period where progress appeared to stall. Instead, headline inflation came in softer than expected, helped by falling fuel prices and easing transport costs. Annual transport inflation halved from 6.6 per cent in April to 3.3 per cent in May, while automotive fuel prices fell 11.9 per cent during the month following lower oil prices and the impact of reduced fuel excise measures.

While petrol prices don't solve Australia's affordability challenges, they are one of the most visible and immediate costs for consumers. Falling fuel costs feed through the economy quickly, helping ease pressure on household budgets and business operating expenses.

The ABS data also showed headline inflation is now sitting at its lowest annual level in several months, reinforcing the broader trend that price growth is gradually moderating.

That trend is important because it aligns with what many economists and lenders have been saying for the last month.

Prior to this week's inflation data, ANZ, NAB and Commonwealth Bank had all shifted their forecasts, now believing the Reserve Bank had likely reached the peak of the interest rate cycle. Following the May inflation release, ANZ reaffirmed that view.

In its latest economic update, ANZ said it expects quarterly trimmed mean inflation to come in at 3.7 per cent for the June quarter, slightly below the Reserve Bank's forecast of 3.8 per cent. Importantly, the bank said that outcome, when combined with slowing economic activity, "supports our view that the cash rate has peaked".

The Reserve Bank has spent the better part of three years attempting to bring inflation under control through higher interest rates. If Australia's major banks are correct and rates have now peaked, the conversation shifts from how much higher rates could go to when they might begin coming down.

Westpac's caution comes from underlying inflation. The trimmed mean, the measure most closely watched by the Reserve Bank, increased from 3.4 per cent to 3.6 per cent annually. Housing inflation remains elevated at 6.5 per cent, reflecting ongoing increases in rents, electricity costs and new dwelling construction.

Electricity prices remain particularly problematic, rising 21.1 per cent over the past year following the removal of government rebates.

Housing construction costs are also showing signs of renewed pressure. ANZ noted new dwelling costs rose 0.9 per cent in May and are now running at an annualised pace of 8.6 per cent over the past three months. Builders continue to face higher labour, fuel and material costs, a reminder that inflationary pressures have not completely disappeared.

Housing affordability has deteriorated largely because of higher interest rates rather than higher property prices alone. Even modest reductions in mortgage rates would improve borrowing capacity, increase buyer confidence and reduce repayment pressure on existing homeowners.

While August is far from a certainty, the latest inflation result has strengthened the view that the next move in rates is more likely to be down than up. For borrowers, buyers and the development sector, that alone represents a significant shift from the conversation that dominated much of the past two years.

The inflation result the property market was waiting for

Glen Waverly

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A prized major infill site at Glen Waverley in Melbourne’s east has been sold for $23 million.
The 583 Ferntree Gully Road property comprises a 16,470 square metre site zoned General Residential with 161 metres street frontage.
Located between the Monash Freeway and Springvale Road and opposite Brandon Park Shopping Centre, the property is currently utilised as an early childhood education centre.
The child education centre is run by the vendor the not-for-profit, bestchance Child Family Care, which will continue to provide childcare services from the retained portion of the site.
CBRE Director Investments, Mark Wizel managed the expressions of interest campaign with Julian White and Chao Zhang in conjunction with Vinci Carbone Property.
According to Mr Wizel, the result was not a surprise despite COVID-19 concerns.
"What we do know is that there is a significantly large group of developers looking at new opportunities – the strong response to the  campaign bore that out – with the knowledge that underlying fundamentals including population growth will ultimately drive demand for new product. 
"The key here was a site with enormous development potential in one of Melbourne’s most dynamic residential growth zones which has seen an extraordinary 16 per cent growth in the median house and unit price over the 12 months to February,’’ Mr Wizel said.
Mr Wizel said while the commercial property market was likely to continue to see asset sales even in the depths of the global health crisis.  
Due to a confidentially clause the developer’s name could not be disclosed.
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Glen Waverley site sells for $23 million

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The commercial redevelopment portion of The Glen Shopping Centre $500 million redevelopment has finished, with a residential element to follow. 
<a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39T19uw5QbPN8HXD8J9XXluS2UdZOrecqyY=&amp;rh=ff004fe9b76b0bd1129cf18cb74e9077907c55ca" target="_blank">The Glen Shopping Centre</a> in Glen Waverley, Victoria was opened in 1967 with around 30 shops and a department store and had around 600 car spaces.
“In 1991, the centre expanded to 120 retailers, with a 100 per cent increase in car spaces to 1,200,” said Ray White Commercial Glen Waverley Managing Director Ryan Trickey.
In 1996, the biggest expansion took place, with an extension to 170 stores and retail player David Jones joined their list of retailers.
In 2015, there was a circa $500 million commitment to the centre to increase the specialty stores to over 240.
<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/2019/8/20/The%20Glen%20-%20After%20Internal%20Shot.jpg" alt="">
It includes a new generation David Jones, with an increase to around 78,000sqm, about 30,000sqm more commercial space than previous.   “We've just finished the commercial redevelopment portion of the build with a mix of premium food and fashion all taking part," Mr Trickey said.
Mr Trickey said Glen Waverley was flanked by several large shopping precincts, Chadstone, East Land, Westfield Knox and Box Hill.   “Without the upgrade, the local area could’ve fallen victim to these other large draw cards with retailers moving to other areas."   “The redevelopment offers more dwelling in the activity center (a state government and council objective) and more retail and entertainment to service this influx of residents.”
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$500 million Glen Shopping Centre commercial redevelopment completed

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The Melbourne suburb of Glen Waverley is host to the highest volume of auctions this weekend, with 18 homes set to go under the hammer, according to CoreLogic.
Next busiest are Coburg and Glenroy, also in Melbourne, with 15 and 11 auctions scheduled each.
This week, the number of auctions scheduled to take place across the combined capital cities is expected to rise, with 1,418 currently being tracked by CoreLogic.
Marking a rise of 76 per cent on last week’s 805 auctions held last week at final results.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/6/13/Subscriber%20strip%20ad.jpg" alt=""></a>
Both Melbourne and Sydney are expected to see a big increase in activity this week, with 683 homes scheduled for auction across Melbourne, while Sydney is set to host 505 auctions, increasing on the 215 and 313 auctions held last week respectively.
The smaller auction markets in Brisbane and Perth are seeing a decrease in volumes, while Adelaide and Canberra will see more auctions take place. Tasmania has no scheduled auctions this week.
<img src="https://www.urban.com.au/images/2019/6/13/Upcoming%20Auctions%20June%2013.JPG" alt="">
The busy auction weekend in Glen Waverley sees <a href="https://www.realestate.com.au/property-house-vic-glen+waverley-131203234" target="_blank">64 Wilson Road</a> (pictured in title) offered.
The property going under the hammer is a three bedroom, three bathroom house set on 926 sqm.
It comes with an indicative price guide of $1.56 million - $1.7 million.
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Glen Waverley set as busiest auction suburb this weekend

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The busiest suburbs for auctions this weekend are once again in Victoria with Glen Waverley topping the list with 15 homes scheduled for auction, tied up with Reservoir which also had 15.
Auction activity across the combined capital cities will remain relatively steady this week, with a total of 1,828 homes set to go under the hammer, 842 of which are in Melbourne.
This is an increase on last week’s final figure which saw 1,748 auctions take place in the combined capital cities and 805 in Melbourne.
Over the same week last year, 2,258 capital city homes went to auction; a difference of almost 20% on the number of auctions we are currently tracking this week.
<img src="https://www.urban.com.au/images/2018/9/6/Auctions%20this%20week%20Sept%209.JPG" alt="">
An example of a property going to auction in the busy Glen Waverley is 7 Autumn Court (pictured above)
This four bedroom, two bathroom house is on the market for the first time since it was constructed in 1999.
The price guide for this 600 square metre holding is $1.8 - $1.98 million.
<img src="https://www.urban.com.au/images/2018/9/7/Glen%20Waverly%202.JPG" alt="">
Another large home under the hammer this weekend is 5 Sagan Court, Glen Waverley (pictured above).
Set on a 794 square metre lot this house has a $2.3 - $2.53 million price guide.
It first sold in 2008 for $656,000 and most recently in 2015, seven years on, for $2.02 million.
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Glen Waverley to be the busiest auction suburb this weekend

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A four bedroom Glen Waverley house has sold for $1,617,000 making it Melbourne’s most expensive long weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-vic-glen+waverley-126317286" target="_blank">24 Orchard Street</a>, the 665 square metre property is presented for potential redevelopment or renovation.
It last sold for $82,000 in 1984.
It features formal living zones with an entry foyer that leads to the L-shaped lounge and dining room.
There is also an open plan kitchen and meals area along with a kitchen featuring Blanco stainless steel appliances.
<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/2017/10/01/24%20Orchard%20Street-2.jpg" alt="">
Four bedrooms are available all with their own wardrobes.
Outside is a large backyard along with an entertainment area that has a BBQ area as well.
Other features include gas heating, single carport and single garage.
The property was offered through Ray White agents Calvin Huang and Alan Wang.
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Four bedroom Glen Waverley house sold for $1,617,000

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Glen Waverley in Victoria is the busiest suburb for auctions across the nation this weekend, with 20 homes set to go to go under the hammer.
This is followed by Mosman in NSW with 16 scheduled auctions, and Reservoir and St Albans both in Victoria, with 15 auctions each.
This week, the number of auctions scheduled to take place across the combined capital cities is expected to rise, after last week saw a slowdown in activity due to the public holiday held in most states, including the two largest auction markets.
<a href="https://www.propertyobserver.com.au/images/2017/06/15/Screen%20Shot%202017-06-15%20at%2011.35.26%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/15/Screen%20Shot%202017-06-15%20at%2011.35.26%20am.jpg" alt="">
There are 2,247 properties scheduled to go to auction this week, increasing from the 1,279 auctions held last week and also higher than results from one year ago (2,183).
Across Melbourne and Sydney, the two major markets, auction activity will increase considerably, with Melbourne host to 1,036 auctions this week, up from 389 last week, and Sydney with 859 homes scheduled to go to auction, increasing from 619 last week.
<a href="https://www.propertyobserver.com.au/images/2017/06/15/Screen%20Shot%202017-06-15%20at%2011.35.32%20am.jpg" target="_blank">Click to enlarge</a>
<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/2017/06/15/Screen%20Shot%202017-06-15%20at%2011.35.32%20am.jpg" alt="">
It is expected that the remaining capital cities will see an increase in volumes this week with the exception of Tasmania, where activity will remain relatively steady over the week.
A five bedroom house at <a href="https://www.realestate.com.au/property-house-vic-glen+waverley-125449922" target="_blank">1 Mandowie Road</a>, Glen Waverley (above) has been scheduled for auction this weekend.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-vic-glen+waverley-125443438" target="_blank">4 Turner Court</a>, Glen Waverley (below) has been scheduled for auction this weekend.
<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/2017/06/15/4%20Turner%20Court.jpg" alt="">
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Victoria's Glen Waverley to be busiest auction suburb this weekend: CoreLogic

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A Chinese investor has picked up a corner site in Melbourne’s tightly held Glen Waverley for $2.38 million via private sale.
The 206 square metre retail site at <a href="https://www.realcommercial.com.au/property-retail-vic-glen+waverley-502182570" target="_blank">15 Railway Parade North</a> comprises a single-level brick building of around 150 square metres. The sale price reflected a land rate of $11,387 per square metre.
The deal was brokered by Fitzroys agents Chris Kombi and Terence Yeh along with Peter Sprekos and Damien Sweeney of JLL.
Kombi said the property was offered with vacant possession and Commercial 1 zoning.
He said the property offers future development potential, being subject to proposed amendments to the Monash Planning Scheme that if approved would see the maximum height for the site increased to between eight and 10 stories.
“The offering received interest from investors, owner occupiers and developers alike, all looking to capitalise on the vibrant surrounding Kingsway shopping, dining and entertainment area.”
Kombi said the commercial offering of the area includes The Glen Shopping Centre nearby, which has over 207 specialty retail shops. Nearby are eateries, a cinema multiplex and other entertainment options.
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Corner site in Melbourne's Glen Waverley nets nearly $2.4 million

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Investors are very active in Melbourne’s eastern suburbs, in particular Glen Waverley, says valuation firm Herron White Todd.
The HTW month in review suggested that typically investors in the Glen Waverley residential investment market are from overseas.
"Residential stock located within the Glen Waverley Secondary College zone and within walking distance of The Glen shopping centre and Glen Waverley metropolitan train station are particularly appealing to investors.
"This is typically due to Glen Waverley Secondary College’s academic reputation among the local and Chinese communities and the practicality of being near a major transport hub and shopping centre.
"Looking at detached housing specifically, investors can be attracted to dated dwellings in original condition on at least circa 650 square metres which may be suitable for future subdivision or redevelopment."
The HTW report goes on to state that under the Monash Planning Scheme, dwellings within close proximity of Glen Waverley Secondary College and The Glen shopping centre are typically located within a General Residential Zone Schedule 2 (GRZ2).
"The planning schedule to this zone outlines that there is no maximum building height requirement for a dwelling or residential building within the zone. This feature encourages higher density living and development in the area.
"The entry price point for a typical original single level detached brick veneer dwelling on a 650 square metre site located within the Glen Waverley Secondary College zone is around $1.3 million.
"The entry price point for a typical circa 650 square metre original single level detached brick veneer dwelling located outside the Glen Waverley Secondary College zone is around $900,000."
Typical yields for newly completed two storey brick veneer detached dwellings with a double garage range from circa 2% to 3%, says the November review.
"Typical yields for newly completed townhouses in Glen Waverley range from circa 3% to 4%.
"Typical yields for newly completed apartments range from circa 4% to 5%."
The review also notes that speculative off the plan apartments have been of considerable interest to investors in the Glen Waverley area.
"Recent apartment developments within walking distance of The Glen shopping centre have almost sold out within hours of being put to the market for sale with strong interest from investors.
"Such apartment complexes include the Galleria tower  that media reports have said sold 100 apartments in just 90 minutes in early October 2015.
"The Ikon apartment complex located directly adjacent to the Glen Waverley train station also experienced a similar rush in under 24 hours from overseas investors wanting to buy in the popular area when they were first offered to the market in 2012."
The HTW report suggests that 2015 has seen a strong increase in capital values in the area, however recent legislation changes to foreign investment regulations in conjunction with lenders tightening lending criteria to investors (both local and foreign) has led to signs of market conditions cooling in recent weeks.
However premium properties or properties which offer a point of difference are still hotly contested and achieve strong results, says the valuation firms review.
"Should a significant change in current market conditions occur whereby investor demand significantly dropped we would expect to see a decline in property values in the area, especially in those properties which have risen sharply over the past 24 month period."
 
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