A long-stalled Mermaid Beach development site opposite Pacific Fair, previously earmarked for a twin-tower project, is set for a fresh development push with plans for a major mixed-use residential tower.&nbsp;

Billionaire garbo Ian Malouf's development company, REMI Residences, is proposing Project Elegance, a 44-storey tower with over 270 residential apartments and 88 short-term accomodation units at&nbsp;2065 Gold Coast Highway, Mermaid Beach, on the corner of Mermaid Avenue.

Malouf paid $23.76 million for the 3,783 sqm site in 2022, six years after it traded for $34.1 million when it was bought by Hubei United Investment Group.

 
<img alt="First Look: REMI Developments plans major mixed-use tower with 360 apartments at stalled Mermaid Beach site" data-entity-type="" data-entity-uuid="" data-widget="image" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Mermaid%20Beach%20da%20podium.png?VersionId=yRYSSPItvCA5ZeQ49LlwkQYVn7OhEqIC" /><img alt="" data-entity-type="" data-entity-uuid="" draggable="true" height="15" role="presentation" src="data:image/gif;base64,R0lGODlhAQABAPABAP///wAAACH5BAEKAAAALAAAAAABAAEAAAICRAEAOw==" title="Click and drag to move" width="15" />

&nbsp;

The design statement by DKO says Project Elegance "represents a holistic response to its coastal and urban context. It draws upon site, climate, and landscape to create a composed architectural outcome that prioritises occupant experience, public interface, and long-term viability via vibrant and active uses."

They say the subject site&nbsp;occupies a distinctive island parcel with three street frontages and prominent visual exposure to passing visitors.

"This unique position allows the development to form a panoramic dialogue with water and city, setting the foundation for a climate-responsive, site-specific architectural expression.&nbsp;The podium base, inspired by the region’s sandstone headlands and coastal setting, and adopts a sculpted and grounded character that provides a stable counterpoint to the slender tower above."

&nbsp;

<img alt="First Look: REMI Developments plans major mixed-use tower with 360 apartments at stalled Mermaid Beach site" data-entity-type="file" data-entity-uuid="4f088e10-6493-49d4-83cd-10fc039318ac" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Mermaid%20Beach%20da%20tower.png?VersionId=Sbglj0tNBqyvY5V_DlVH.bvjXi8kBbfl" />

Residents and guests would have access to multiple communal recreation levels. Plans include a shared recreation deck on level six, with a pool and three padel courts. There will be a residential-only pool on level seven, and an upper-level communal space only accessible by those buyers towards the top of the tower.

&nbsp;

Ground-floor commercial spaces are proposed to operate between 5am and midnight, contributing to an activated street frontage along the busy Gold Coast Highway corridor.

The site sits within the High Density Residential zone and a Light Rail Urban Renewal Area, where planning policy encourages higher-density development close to transport infrastructure and services. The planning report states the project aims to “ensure the efficient reuse of this centrally located property” and support the transformation of inner-city areas into “more vibrant, compact, interesting, connected and active” precincts.

&nbsp;

The proposal marks the latest attempt to unlock the high-profile parcel, which previously carried approval for the “Elegance” twin-tower development, a project that included more than 500 apartments but ultimately stalled after sales activity ceased in 2019.

REMI Developments has been increasingly active in the Gold Coast property market, with the Malouf-led group positioning itself around premium residential and lifestyle-focused projects as the region continues to attract both interstate buyers and international interest.

Malouf is one of Australia's most impressive entrepreneurs, having sold his waste business fore more than $500 million, having started only with a small truck at 18 years old.

Joel Robinson

First Look: Billionaire Ian Malouf plans Mermaid Beach tower

A State Significant Development proposal from Ecove Group could see two high-rise residential towers developed above an ALDI-anchored retail podium in Gordon.

The 28-storey towers, dubbed Eight 10, would become the tallest in the sleepy Upper North Shore suburb, which has been stirred by changes to the Low to Mid-Rise Housing Policy aimed at triggering greater density around transport hubs.

Ecove Group’s plans for 810 Pacific Highway, a 2,357 sqm site around 400 metres from Gordon railway station, include 180 apartments, 39 of which would be dedicated as affordable housing.

Architecture firm PBD said in its Design Report the site "presents an exciting opportunity to positively contributes to the surrounding context, enhances the overall urban experience."

<img alt="First Look: Ecove lodges State Significant Development plans for dual-tower “Eight 10” project at 810 Pacific Highway, Gordon" data-entity-type="file" data-entity-uuid="e50141fa-fb0b-44b3-bf9b-c6d87b993c3b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Eight%2010%20podium.png?VersionId=YTgQPBxNnmQwr6x2AJSpVZ1COqa.9oLQ" />

The site previously received approval for a development comprising 56 apartments above retail in 2018.

PBD noted in its report that the planning&nbsp;context for the site has "evolved significantly since the original consent was issued."

In April 2024, the Department of Planning, Housing and Infrastructure (DPHI) identified the site as being located within a Transport Oriented Development (TOD) precinct. In parallel, Ku-ring-gai Council progressed a preferred planning framework for Gordon Town Centre, including proposed amendments to the Ku-ring-gai Local Environmental Plan 2015 (KLEP 2015).

<img alt="First Look: Ecove lodges State Significant Development plans for dual-tower “Eight 10” project at 810 Pacific Highway, Gordon" data-entity-type="file" data-entity-uuid="cf65fb26-a163-41ea-a4d3-8ddbeabd67e4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Eight%2010%20MAP.png?VersionId=vrQJzXSg3xRH.APBmtth5mA2adPmUPjc" />

PBD said the proposed development "responds to the amended KLEP 2015 and, in addition, seeks to utilise the floor space ratio and height incentives available under Chapter 2, Part 2, Division 1 of the State Environmental Planning Policy (Housing) 2021."

Late last year the first project in Gordon through the NSW Government's Housing Delivery Authority was approved. That was for 106 apartments across two connected seven to eight-storey buildings.

Ecove plans 28-storey apartment towers in Gordon

<a href="https://www.apartments.com.au/developers/graya">Graya</a> has set its sights on one of Brisbane’s scarce remaining riverfront development opportunities.

They have spent $17 million on an 810 sqm site across 16-18 Sandford Street, where it is planning SILK, a 15-storey apartment tower with just 22 apartments.

Planning documents outline a single tower designed to take advantage of the site’s northerly outlook toward the river and Brisbane CBD.

There will be eight two-bedrooms and 14 three-bedroom apartments on offer, each either half- or full-floor.

<img alt="Graya" data-entity-type="file" data-entity-uuid="059e1aa4-695c-4556-bafa-e8b5970c06f5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-12%20at%203.07.50%E2%80%AFPM.png?VersionId=tEqwv_m8HYhrXSCStOMFHvGZZ5WgKfEx" />

&nbsp;

According to the Town Planning Assessment, the proposal "showcases a high quality architectural and landscape design outcome that is enhanced by the amenity of the Brisbane River… and provides a subtropical design response that celebrates Brisbane’s climate and lifestyle.”

Ground level includes landscaped communal areas facing the river alongside a gym and outdoor garden space, while the rooftop terrace will feature multiple leisure amenities like swimming pools,&nbsp;dining and barbecue facilities, as well as outdoor relaxation and yoga spaces.

<img alt="Graya" data-entity-type="file" data-entity-uuid="93982dbb-9f27-409b-a319-bd6f458f9ea7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-12%20at%203.09.05%E2%80%AFPM.png?VersionId=gCaaW82pEBxMvXkVkEm4TC_o7_UXA82p" />

Architecturally, the tower form draws inspiration from the movement of water along the river edge. Design documentation describes the building as “a form sculpted by flow, shaped by shifting water,” with curved forms, varied materiality, and sculptural elements used to soften the building’s visual bulk. Sandstone, an iconic material throughout St Lucia, is reinterpreted through a mix of refined and split-face textures across the façade.

The Sandford Street frontage is intended to present an articulated façade featuring vertical landscaping and sculptural architectural elements, helping the tower integrate with the evolving high-density character of the riverfront strip while maintaining visual interest from both the street and river corridor.

Graya has continued to expands its footprint across South East Queensland, with projects under construction across both Brisbane and the Gold Coast.

GRAYA unveils plans for SILK in St Lucia

Less than five months after submitting plans to redevelop the former Cadbury office on St Kilda Road into a luxury apartment tower, development giant <a href="https://www.apartments.com.au/developers/dexus-property-group">Dexus</a>&nbsp;has been given ministerial approval to push on with the project.

Apartments.com.au <a href="https://www.apartments.com.au/news/vic/first-look-dexus-joins-st-kilda-road-apartment-ranks-with-gateway-tower-proposal">revealed the plans in October last year</a>.

The approved project will see the 19-storey office building at 636 St Kilda Road replaced with a <a href="https://www.apartments.com.au/architects/bates-smart">Bates Smart</a>-designed tower delivering more than 400 new apartments at the prominent intersection of St Kilda Road and Queens Road.&nbsp;

The design responds to the site’s gateway position at St Kilda Junction, with Bates Smart describing the tower as a “refined and sculptural built form that mediates between the scale of St Kilda Road and Queens Road,” reinforcing a civic presence at the key intersection.&nbsp;

<img alt="First look: Dexus joins St Kilda Road apartment ranks with gateway tower proposal" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-10-06%20at%2012.52.37%E2%80%AFPM.png?VersionId=Tq3yyOWe0e0klvy5j4TIjiZT7yd3f1Xk" />

The development will comprise 402 apartments, including 40 studios, 87 one-bedroom, 203 two-bedroom, and 66 three-bedroom residences, alongside six penthouses. The project will also incorporate active frontages, new pedestrian through-links and a landscape strategy designed to integrate with the boulevard character of St Kilda Road.&nbsp;

Public realm improvements form part of the approved scheme, including a 138 square metre linear park, extensive landscaping and approximately 188 metres of active street frontage intended to improve permeability and safety at ground level. Four basement levels will provide 449 car spaces and 120 bicycle spaces.&nbsp;

The project includes a $9.6 million contribution to the Social Housing Growth Fund, equivalent to three per cent of the project’s estimated development cost, supporting broader affordable housing initiatives across Victoria.&nbsp;

<img alt="First look: Dexus joins St Kilda Road apartment ranks with gateway tower proposal" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/St%20kilda%20rd%20site.png?VersionId=m_ZioKYhwkvekE3ZUF6y7bz.5_5yFPnZ" />

Wholesale Australian Property Fund (DWAPF) Fund Manager Chris Davitt said the residences are intended to appeal to a broad mix of buyers seeking proximity to the CBD and surrounding amenities.

“We’re excited about the potential of the project to contribute new residential supply to one of Melbourne’s most sought-after areas,” Davitt previously said. “The landmark site at 636 St Kilda Road is at the gateway to Melbourne’s CBD, offering sweeping views and exceptional connectivity.”&nbsp;

The site’s three street frontages, St Kilda Road, Queens Road and Queens Lane, allow for generous setbacks and a flexible built form, while its proximity to the ANZAC Station tram-rail interchange and the St Kilda Road cycling corridor positions it within one of Melbourne’s most connected inner-city precincts.&nbsp;

St Kilda Road has become one of Melbourne’s most active apartment corridors in recent years, with projects such as Victoriana, The Muse and St Boulevard already completed overlooking Albert Park Lake, while Gamuda Land continues construction on Fareham and several other developments are planned nearby.&nbsp;

Dexus secures ministerial approval for St Kilda Road apartment tower

Just a few months after launching to the market,&nbsp;<a href="https://www.apartments.com.au/developers/gold-partners-australia">Gold Partners Australia</a>&nbsp;has sold 75 per cent of the apartments at&nbsp;Harmony on Broadbeach, its debut Gold Coast apartment development.

<a href="https://www.apartments.com.au/new-apartments/harmony-on-broadbeach-2797-gold-coast-highway-broadbeach-qld-4218">Harmony on Broadbeach</a>, which will rise 33 storeys on the corner of First Avenue and the Gold Coast Highway about 400 metres from the beach, will deliver a collection of two and three-bedroom apartments designed to appeal to a mix of local owner-occupiers, interstate buyers, and investors seeking newer stock in the tightly held Broadbeach market.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI Architects</a>, Harmony will home just over 100 apartments, with a typical floorplate limited to four apartments per level. The configuration allows for larger layouts and greater privacy compared to many higher-density coastal towers.

[smartcode_project:default project_id=113098 project_image_fid=355608]

The residences comprise generous two and three-bedroom apartments with open-plan living areas, large balconies and floor-to-ceiling glazing designed to maximise natural light and capture views across the ocean, hinterland and Broadbeach skyline. Interiors feature natural stone benchtops, engineered timber flooring and Miele appliances, with finishes intended to reflect the coastal character of the surrounding area.&nbsp;

Amenities are centred on a dedicated wellness offering, including a 20-metre swimming pool, spa, sauna, gymnasium and yoga lawn, alongside communal lounges, private dining areas and outdoor barbecue spaces for residents. The building will also include a hospitality venue at street level, activating the ground plane along the Gold Coast Highway.&nbsp;

[smartcode_project:default project_id=113098 project_image_fid=355611]

Olympus Property Group is handling sales for the development. Director Deanna Lockett said the project has resonated with a wide buyer pool drawn to the combination of location and pricing.

“There’s been nothing new come to the market in <a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> at this price point for nearly a year,” Lockett said. “It hits the sweet spot of affordability, good sized apartments, in a great location.”&nbsp;

Broadbeach remains one of the Gold Coast’s most established lifestyle precincts, with residents within walking distance of the beach, dining along Surf Parade, Pacific Fair Shopping Centre, and the Gold Coast Convention and Exhibition Centre. The suburb has seen limited new apartment supply over the past year, contributing to strong early demand for Harmony.&nbsp;

Construction is due to commence in Q2 2026, with completion targeted for late 2028, as Gold Partners Australia expands into the Gold Coast market alongside its established pipeline in New South Wales.

[smartcode_project_cta:default project_id=113098]

Harmony on Broadbeach races to 75 per cent sold as Gold Partners Australia target construction commencement

Home Renovations

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More than 20 years after renovation show Changing Rooms first aired on TV, Channel 10 have commissioned a new series.
Natalie Bassingthwaighte (below) will reboot Changing Rooms as its host.
The renovation show will launch on television screens on February 13.
She holds a degree in interior design.
"Our new show will capture the essence and appeal of the original format and re-energise it, with strong storylines and more kitchen and bathroom reveals, which are proven favourites with Australian viewers," the network's chief content officer, Beverley McGarvey, said. 
Their new designers are Tim Leveson, Jane Thomson, Naomi Findlay and Chris Carroll.
Carroll is the director at Melbourne-based TLC Interiors, an interior design studio and home style blog.
Carroll helps clients and readers create amazing spaces regardless of budget. 
"Y'all ready for some amazing design on a tight budget?" Carroll said, adding that that's what he's been doing for years.
"I'm absolutely pumped to show it to you on the big screen," Carroll said.
The show begins on February 13.
"For ages I've been wishing a TV network would produce a series that shows everyday Aussies how to make their homes amazing without spending a fortune, and Channel 10 went and did it," Carroll said.
"The added bonus, of course, is that they cast me on the show to work my styling magic. No fights, (almost) no drama, but plenty of chipped nails and paint-covered hands (give me a manicure stat!)."
Caroll said that a personal level, a TV gig like this "is a dream come true for me," adding that he can't wait to show people you can have a designer home without the designer price tag. 
 
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jonathanchancellor-7SQnKwU6yx

Natalie Bassingthwaighte to reboot Changing Rooms

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GUEST OBSERVATION
On average, renovating a home generates far more waste than building a new one from scratch.
This waste goes straight to landfill, damaging the environment. It also hurts your budget: first you have to pay for demolition, then the new materials, and then disposal of leftover building products.
By keeping waste in mind from the start and following some simple guidelines, you can reduce the waste created by your home renovation.
1. It starts with the design
Waste is often treated as inevitable, factored into a building budget with no serious attempt to reduce it.
By raising the issue early with your architect, designer or builder, they can make decisions at the design stage that reduce waste later. Often the designers and architects don’t see their decisions contributing to waste – or rather, they don’t really think about it.
During my research on reducing construction waste, I asked one architect what he thought happens to the waste generated. He laughed with a glint in his eyes and said, “I think it disappears into pixie dust!”
One simple early decision that dramatically reduces waste is designing with material sizes in mind. If you have a ceiling height that does not match the plasterboard sheet, you end up with a tiny little strip that has to be cut out of a full sheet. In the case of bricks, not matching the ceiling height is even more wasteful.
Obviously not all materials will work together at their standard sizes (and you need to fit your renovation to the existing house). But sensitive design can make intelligent trade-offs, reducing overall waste.
When I asked architects why they don’t design zero-waste buildings more often, they said clients don’t ask for it. Make it part of your brief, and ask the architect how they can save money by using the materials efficiently.
2. Get your builder involved early
If you’re using an architect for your renovation, it’s common to have very little collaboration between them and the builder. Any errors or issues are usually spotted after construction has begun, requiring expensive and wasteful rework.
Instead, ask your architect and builder to collaborate on a waste management plan. Such integrated approaches have worked well in Australia and the United States.
This means clients, engineers and builders are collaborating, rather than taking adversarial roles. For such contracts to work, it’s important to involve all parties early in the project, and to encourage cooperation.
The briefing stage is an opportunity for architects, quantity surveyors and builders to work together to identify a waste minimisation target.
3. Whatever you do, don’t change your mind
One the biggest contributions to waste on sites is late design changes. Client-led design changes are identified in all literature as having far-reaching implications on waste.
These are mostly due to owners changing their mind once something is built. Reworking any part of a building due to design changes can account for as much as 50% of the cost overrun, as well as causing delays and generating waste.
The early work with your design and construction team outlined in the first steps gives you the chance to make sure you’re committed to your original design. Skimping in the planning stage can end up costing you far more in the long run.
4. Deconstruction, not demolition
Ask your builder not to demolish the building, but to deconstruct it. Deconstruction means taking a building apart and recovering materials for recycling and reuse. This provides opportunities for sorting materials on site.
Salvaged materials can be resold to the community or reused in the renovations. It greatly reduces the tip fees which are usually higher for mixed waste (typical from demolition process) and lower for sorted waste.
Of course this takes more time and has an additional cost. Therefore you do have to balance the cost of deconstruction against the savings.
Denmark, which recycles 86% of its construction waste, has made it mandatory for all government buildings to undergo selective demolition and sorting of construction waste. A good place to start in Australia is your state environment department, which may have guidelines on what is involved.
5. Choose materials carefully
Good-quality materials last longer, reducing maintenance later. Choosing manufacturers that use minimal packaging also reduces waste (be careful here to check the difference between “minimal” and “inadequate” packaging, as the latter can mean your material breaks).
Reusing materials from your renovation may also be an option (you will need to discuss this with architect and builder at the beginning of the project). Finally, using materials with recycled content is a great option, and boosts our recycling industry.
In March 2017 the Housing Industry Association released data suggesting the Australian residential building industry will increasingly become more dependent on renovation work rather than new construction,
If you’re renovating your home, making efficiency and low waste a priority helps cut costs and reduce landfill.<img src="https://counter.theconversation.com/content/103942/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Deepika Mathur, Researcher in sustainable architecture, Charles Darwin University
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/five-ways-to-reduce-waste-and-save-money-on-your-home-renovation-103942" target="_blank">original article</a>.
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j.ballantyne1990-6AQqhLzZaK

Five ways to save money and reduce waste on your home renovation

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Four bidders triggered a $1.16 million sale price for an inner Sydney dump on the weekend.
<a id="x_mcntLPlnk129869" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/property-house-nsw-erskineville-128913286" target="_blank" data-auth="NotApplicable">The Erskineville blank canvas</a> at 48 Charles Street (above and below) was on the market for the first time in 30 years.
It attracted an opening bid of $900,000 below its $1 million pre-auction price guidance. 
<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/2018/8/20/erk2.jpg" alt="">
"Discover the infinite possibilities to design a contemporary abode enhancing its heritage facade, high ceilings and original floor boards," the Ray White marketing pitch advised.
With side and rear lane access, there was potential to build a second level as have neighbouring homes.
The Daily Telegraph recently suggested there was a dwindling supply of inner city fixer uppers.
But there is another opportunity just a few doors further along.
The home at <a id="x_mcntLPlnk73234" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/property-house-nsw-erskineville-128974286" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">86 Charles Street</a> (below) goes to auction September 1.
<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/2018/8/20/erk3.jpg" alt="">
The home has significant uneven floors, ceiling damage and peeling walls.
Its LJH auction guide is $800,000 to $850,000, the first time offered in 48 years.
<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/2018/8/20/erk4.jpg" alt="">
"Hip village cafes, delicious dining spots and city trains are within a stone's throw of its door," the marketing says.
In Melbourne, one of Fitzroy’s last remaining unrenovated terraces, albeit habitable, sold after two bidders sought out the renovation opportunity.
Broxbourne House, <a id="x_mcntLPlnk400359" class="x_mcntOWAAutoLink" href="https://www.realestateview.com.au/real-estate/427-george-street-fitzroy-vic/property-details-sold-residential-12007504/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">at 427 George Street</a> (below, has been continually occupied by one family for 100 years.
<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/2018/8/20/brix1.jpg" alt="">
Bidding kicked off with a $1.05 million vendor bid with Domain reporting the home sold to a couple intending to relocate from an apartment in Collingwood for $1.15 million.
Its price guidance had been $1.05 million to $1.15 million through Nelson Alexander.
<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/2018/8/20/brix2.jpg" alt="">
Sydney's top weekend auction sale was 12 Haughton Street, Linley Point which fetched $5.35 million pre-auction.
<a id="x_mcntLPlnk374804" class="x_mcntOWAAutoLink" href="https://www.realestate.com.au/sold/property-house-nsw-linley+point-128879810" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">The five bedroom, three bathroom house</a> was sold after eight days on the market with $5 million to $5.5 million price guidance through McGrath.
It had last sold in 2015 at $4.7 million.
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<div class="x_mcntcolumn">There were 572 auctions held in Sydney, the busiest week since July 2018, returning a preliminary clearance rate of 56.5 per cent. </div>
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In comparison, there were 458 auctions held over the previous week and the final auction clearance rate was 53.8 per cent. 
One year ago, 720 auctions were held and the Sydney clearance rate came in at 67.8 per cent.
<img src="https://www.urban.com.au/images/2018/8/20/Erko%20Chart.JPG" alt="">
Melbourne's top sale was $3,805,000 for 9 Wallace Grove, Brighton.
The Brighton home was tipped to sell for between $3.3 million and $3.63 million by its Buxton listing agency.
<a id="x_mcntLPlnk417697" class="x_mcntOWAAutoLink" href="https://www.realestateview.com.au/real-estate/9-wallace-grove-brighton-vic/property-details-buy-residential-12005364/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">The once grand four bedroom Californian bungalow</a> sits on a 920sqm land holding.
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In Melbourne, a preliminary auction clearance rate of 55.7 per cent was recorded across 868 auctions. Last week there were 721 auctions returning a final clearance rate of 58 per cent.
One year ago, the clearance rate was a stronger 75.6 per cent across 1,001 auctions.
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</div>
Brisbane had the highest volume of auctions in the other capital cities with 103 homes going under the hammer, returning a strong preliminary clearance rate of 60 per cent.
There were 1,692 homes taken to auction across the capital cities this weekend, returning a preliminary auction clearance rate of 56.7 per cent, making it the busiest week for auctions since June 2018. 
Last week, 1,402 auctions were held and the final clearance rate came in at 54.9 per cent. 
Over the same week last year, auction volumes were higher with 2,064 homes going under the hammer across the combined capital cities and the clearance rate was a stronger 69.8 per cent, CoreLogic noted.
Units outperformed houses with 58.5 per cent of units selling at auction, while 56 per cent of houses sold across the combined capital cities.
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Erko dump fetches $1.1 million

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The Los Angeles-based entrepreneur Andrew Banks and his wife Andrea returned last week to Point Piper.
It was a $21 million non-harbourfront acquisition by the star of Channel Ten's Shark Tank reality series. 
The couple have immediately lodged $1.4 million renovation plans telling neighbours their proposed Bokor Architecture alterations are generally restricted to internal changes, although they will be knocking down the quaint 1930s weather vane tower above the garage. 
There will be a new zinc roof and they plan to render the red brick home with a white wash.
Banks is leaving no stone unturned in the renovation.
He's called on one of Australia's leading landscapers Paul Bangay to create the gardens, while Thomas Hamel, of the same standing in the designing world, will be handling the interior.
The Bank's are back in Australia’s most expensive neighbourhood, having made headlines in 2010 for the $52 million sale of their waterfront mansion, Villa Veneto to the Penn family.
Their recently acquired 1930s-era residence on Wyuna Road was sold by South African medical device entrepreneur Dr Charalambos Revelas and his wife Mary who are the $15.75 million buyers of Edgecliff trophy home, Carmel.
Carmel was built in the 1930s for stockbroker, Stanley Utz. Banks, who started his career as an actor in England at The Old Tote Theatre Company, made his fortune in the recruitment industry, co-founding Morgan &amp; Banks in 1985 with Geoff Morgan.
His appearances on the Channel Ten show - where he returns later this year - saw him offer to invest in the iCapsulate coffee company, with a show record $2.5 million, which would have given him 22.5% of the company. But it failed to proceed after Bank did due diligence.
Following the sale of his Point Piper trophy home in 2010, the couple moved to Los Angeles, paying $US9 million for a Beverly Hills mansion, quite near to where their children, Nick and Sophia had made their homes having married Americans.
After a major renovation, the couple recently sold in Beverly Hills for US$15,995,000.
One of his mottos is "I don’t think we should tip-toe through life towards death".
This article was first published in the Saturday Daily Telegraph.
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Point Piper renovation for Shark Tank's Andrew Banks

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Gold Coast businessman Grant Balemi has used Bartercard to transform a rundown acreage property at Carrara into a $1 million-plus show home.
The car dealer said the $230,000 renovation of the property would not have been possible without his Bartercard trade dollars, which delivered him almost half – or approximately $105,000 worth – of services from key tradies.
After paying $515,000 for the two-acre property three years ago, Grant and wife Debbie have received a number of appraisals of more than $1 million post-renovation.
They have listed the five-bedroom, 3-bathroom residence for sale and are currently seeking expressions of interest over $1million, putting the property on track for an impressive capital gain after reducing significant cash expenses via the global trading network.  
“It’s quite amazing how much of the renovation I’ve been able to do through Bartercard, and it’s turned out beautifully,” Mr Balemi said.
A Bartercard South Gold Coast member since 2013, Mr Balemi initially used the barter trade exchange for his car dealership, Auto Pursuit, to save cash on services he required like towing, dent repair and car detailing.
Having experienced the cash-saving power of Bartercard, Mr Balemi decided to apply it to his journey up the property ladder and factored it into his purchase of the Carrara property in 2014.
<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/2017/05/25/Grant%20Balemi%203%20RESIZED.jpg" alt="">
“We probably paid a bit too much for the property initially, but we recognised its potential, because it was acreage living just 10 minutes from Broadbeach,” he said.
“With the Commonwealth Games coming up, and being right around the corner from Metricon Stadium and private school Emmanuel College, the area is also poised for major growth.
“The plan from the outset was always to use Bartercard to help fund the improvements that this property desperately needed.
“It would have been impossible to carry out a renovation of this size without the Bartercard element.”
Mr Balemi tapped into the Bartercard network on the Gold Coast, Brisbane and interstate to source “big ticket” trades such as tiling, concreting and plumbing, as well as electrical fittings, plants and bathroom products.
Trade dollars also paid for the building of a sandstone retaining wall on the expansive property, which has a rural outlook – looking down on show horses – and fronts nature reserve bordering Emerald Lakes Golf Club.
“I was able to find a large selection of trades I needed through the Bartercard network and in most cases, it was a 100 per cent trade with those members,” Mr Balemi said.
“If you want to save cash, it’s definitely the way to go.
“It’s a no brainer for someone who wishes to do a renovation but may not have the cash or the borrowing capacity to do it.”
Mr Balemi said the sale of the property would put the couple in a stronger financial position.
“It’s a beautiful property now and we wouldn’t really be selling it under other circumstances,” he said.
“But it will allow us to get on top of debt and buy more real estate.”
Bartercard co-founder and South Gold Coast franchise owner Andrew Federowsky said Mr Balemi’s renovation demonstrated how Bartercard could be used to save cash while boosting purchase power.
“Grant is a great example of just how much value can be extracted from Bartercard, both professionally and privately,” Mr Federowsky said. 
“Whether it’s building a house, running a business or even paying for a wedding, the range of goods and services available to our members is unlimited.”
For more information, please visit <a href="https://www.bartercard.com.au" target="_blank">www.bartercard.com.au</a> or call Bartercard South Gold Coast on (07) 5593 5916.
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Bartercard fuels auto dealer's $230,000 property transformation

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GUEST OBSERVER
The latest edition of the HIA Renovations Roundup report predicts that home renovations will become an increasingly important part of the residential building industry over the next few years.
2016 marked the strongest year since WWII for new home building starts in Australia but our forecasts indicate that activity is set to decline on this front over the next three years.
In this context, our industry will become more dependent on work related to home renovations activity. Many are surprised to learn that renovations currently account for about one third of all residential building work. By the end of the decade, renovations activity is likely to represent some 42 per cent of all residential building activity.
Detached house building in Australia reached very high levels between 1985 and 1995. This large stock of homes is becoming increasingly ripe for major renovations work. Added to the mix are remarkably low interest rates and the big home equity windfalls in Sydney and Melbourne – pretty ideal conditions for renovations demand.
At the moment, the one key difficulty for the renovations market is the fact that turnover in the established house market is falling. This is an important driver of demand, and prospects for renovations growth would be even stronger if transactions on this side of the market started to increase again.
According to the March 2017 edition of the HIA Renovations Roundup report, renovations activity grew by 2.7 percent in 2016 to $33.06 billion. The pace of growth is projected to slow to just 0.3 percent in 2017, before reaching 3.2 percent in 2018. Further growth in 2019 (+2.4 percent) and 2020 (+2.5 percent) is expected to bring the value of home renovations activity in Australia to $35.94 billion.
<a href="https://www.propertyobserver.com.au/images/2017/03/24/hia%201.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/03/24/hia%201.png" width="600" height="311">
Source: HIA Economics
Shane Garrett is senior economist for HIA and can be contacted <a href="https://hia.com.au/en/BusinessInfo/economicInfo/EcoGroup.aspx" target="_blank">here</a>.
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Home renovations driving Australia’s next building boom? Shane Garrett

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A spike in household trade sales across Australia is set to drive the next wave of growth in the industrial and logistics sector, CBRE's latest research reveals.
CBRE's Industrial and Logistics, Q3 2016, MarketView report highlights increased levels of spending on household goods – driven by a national spike in home renovations – is offsetting reductions in manufacturing.
CBRE’s Senior Managing Director, Industrial &amp; Logistics, Pacific, Matt Haddon said the buoyant housing and home renovation market was increasing demand for warehouse space in several markets across the country.
"Greater demand for warehouse space for the occupation of household trade suppliers is increasing competition and supporting rental growth prospects in core markets," Mr Haddon said.
Highlighting the upturn in activity in the household trade sector, Dulux Group, Target, Hickory, Reece, Stanley Black and Decker, Koch Fertiliser and Reece have all taken up significant leases this year, securing a combined 315,890 square metres.
The report shows household trade growth has lifted 5.3 percent in the past 12 months, while increasing home approvals over the same period have also strengthened demand for warehouse space.
Mr Haddon said the underlying strength of Australia's housing sector would continue to be a steady source of growth for the industrial and logistics market.
"Investor appetite for high quality, well leased industrial assets remains strong, with buyers seeking out opportunities in core markets on Australia's east coast," Mr Haddon explained.
“With rents close to the bottom of the cycle, investors are becoming increasingly attracted to the prospect of income growth potential, in addition to the traditional stability that has long been a hallmark of the industrial and logistics sector.”
In the three months to September 2016, $968 million in industrial and logistics assets changed hands – the strongest quarter of this year.
Sales volumes were driven by a number of major transactions in Victoria, including the GM Holden site in Port Melbourne for $130 million and the Coles Distribution Centre in Truganina for $100 million.
Super prime yields meanwhile have continued to compress in Sydney and Melbourne, falling by 40 basis points year on year to 6.3 percent - driven largely by the strength in demand for premium assets.
By comparison, non-core markets such as Perth, Adelaide and regional locations have not witnessed the same compression, with investors remaining guarded and showing a preference for the major eastern seaboard core locations.
CBRE Senior Research Manager Kate Bailey said Australia's industrial and logistics sector was showing evidence of a two-speed market, with rents on the east coast continuing to increase while the resource states of Western Australia and Victoria remained sluggish.
"Melbourne experienced its first quarter of positive rent growth in Q3, recording an increase of 0.8 percent, which was predominantly driven by the northern and city fringe markets," Ms Bailey said.
"Sydney continued to experience rental growth, with 2.0 percent recorded in Q3, however, with a stronger supply pipeline forecast, this level of growth is expected to soften."
Sydney
New South Wales' strong housing market, coupled with an upturn in retail trade, has supported growth in the state's industrial sector.
"Retail trade has been growing consistently, both nationally and in New South Wales. With this comes additional demand for warehousing space in close proximity to residential centres," Ms Bailey said.
"A solid pipeline of infrastructure projects earmarked for the state is also expected to provide a stimulus for industrial occupiers."
During the quarter, super prime net face rents increased 2.0 percent and secondary rents lifted 2.2 percent. The outer west has recorded the strongest growth, with an 11 percent jump for prime assets.
The quarter has also seen strong interest from offshore investors, with Singapore-based Mapletree Logistics Trust securing Altis Property's $85 million portfolio.
Melbourne
Industrial sales so far in 2016 totaled $1.42 billion - 56% greater than in the same period in 2015.
The strong sales pipeline has been underpinned by the sale of Coles distribution centre in Truganina for $100 million on a yield of 5.4 percent and the GM Holden site for $130 million.
Ms Bailey said the sales highlighted the strength of the domestic buyer market.
"Despite strong offshore interest in industrial assets, interest from domestic buyers remains high. Solid sales growth is anticipated for the rest of the year, with continued high levels of enquiry from foreign and local buyers," Ms Bailey said.
During Q3, super prime yields compressed by 17 basis points to 6.0 percent - reflecting the continued demand for high quality industrial assets.
By comparison, yields for secondary assets are continuing to decrease at the same rate as super prime assets, highlighting investors' ongoing search for good returns.
Melbourne industrial rents recorded positive growth for the first time since the June quarter in 2014 – a trend that will continue amid a reduced supply pipeline in the short to medium term.
Super prime rents jumped 0.8 percent in the quarter – underpinned by a 3.6 percent increase in the north – while secondary rents remained unchanged.
Brisbane
Occupier demand for industrial space is being driven by a flight to quality in Brisbane, with tenants increasingly chasing higher quality assets
"Landlords have become more aggressive in attracting and retaining tenants, with incentives edging higher to an indicative 15% - and in some cases, incentives twice this level have been observed," Ms Bailey said.
Super prime yields remained around 6.5% in Q3, with prime yields hovering at 7.4% and secondary yields at 8.7%.
While 2016 sale volumes are down on 2015 - $402 million versus $578 million in the corresponding period – institutional investors are growing portfolios by funding design and construct or speculative development.
"The design and construct, and pre-commitment market is generating the greatest level of activity, with businesses taking advantage of competitive deals in flight to quality areas such as Redbank, Rochedale and Brisbane Airport," Ms Bailey said.
Perth
Consolidation continues to be a persistent trend in Perth's industrial market, with occupiers focused on increasing efficiency and lowering costs.
Industrial rents declined during Q3, with super prime net face rents dipping 4.9% and secondary net face rents lowering by 4.8%.
"The ongoing rental softening in the industrial market directly corresponds to the weaker confidence evident as a result of the cooling resources sector," Ms Bailey said.
Yields remained unchanged over Q3, following yield compression in the first half of the year – driven by the low interest rate environment and lack of supply of well-leased, investment-grade assets in the market.
Adelaide
Adelaide's inner west is emerging a sought after industrial pocket, with low levels of supply in the area underpinning strengthening levels of demand for assets.
Yields remained flat across all markets in Q3, following a period of strong compression, which is reflective of investors seeking out investments that offer better returns relative to risk.
Adelaide's industrial supply pipeline remains strong, with the September quarter seeing 23,310sqm of new space added – the strongest quarter of 2016.
Despite this however, only a small amount of new industrial space is forecast over the next 12 months, which may help to support some rental growth.
Canberra
Canberra's Mitchell industrial precinct is positioned to benefit from the Metro Capital light rail project currently underway, with it underpinning both demand and investment in the space.
"The Mitchell industrial area will benefit from this massive infrastructure project in both the construction phase and the operational phase as operating the rail line will require the employment of these industrial skills," Ms Bailey said.
Canberra industrial rents remained steady in the September quarter, with super prime net face rents at $109 and secondary rents at $75.30.
There has been just one transaction in Canberra's industrial market this year, a multi-use showroom in Mitchell for $6.55 million.
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Home renovation boom drives next wave of industrial growth

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The future increase of home renovations are expected to take up the slack in weaker levels of new home building, according to the Housing Industry Association.
In the HIA's latest Renovations Roundup, senior economist Shane Garrett, said the turnover of existing homes also generates additional renovations demand which is important because many renovation jobs are initiated by the new buyers of aging houses.
“With new home building set to fall back over the coming years, there will be increased reliance on home renovations activity as a source of demand within the industry," he said. 
“Home renovations’ demand has a lot going for it at the moment: low interest rates, a strong pace of dwelling price growth in key areas and healthy labour market conditions in the larger cities. Our renovations market survey also indicates that the price of houses in Sydney and Melbourne is persuading homeowners previously considering moving house to instead embark on major renovation projects in their current homes.
“Overall, we anticipate that renovations activity will continue to grow modestly over the next few years and take up some of the slack that will result from weaker levels of new home building. With annual home renovations expenditure topping $31 billion, the sector packs quite a punch across the Australian economy.
"In 2016, we project that activity will grow by another 3.0 percent, with the pace of expansion slowing to 1.4 pe cent in 2017. Growth is expected to pick up to 2.4 percent in both 2018 and 2019. Overall, the volume of renovations activity is anticipated to increase from $31.38 billion in 2016 to $33.37 billion in 2019, an overall expansion of 6.3 percent. 
The report noted the volume of activity increased by 4.7 percent in 2015, the strongest growth since 2010.
<a href="/images/2016/10/07/Screen%20Shot%202016-10-07%20at%2011.20.21%20AM.png" target="_blank">Click to enlarge</a>
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