The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

International

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The $1.425 billion Westfield World Trade Center in New York continues to make good progress, now over 70% pre-leased. 
The landmark project<a href="https://wtc.westfield.com/index" target="_blank"> is expected to open in late 2015</a>. Its aim is 150 global brand tenants.
Westfield, together with the Port Authority of New York and New Jersey, is developing a 365,000 square foot shopping and dining complex in Manhattan’s iconic World Trade Center. 
The project will feature multiple levels including the WTC Transportation Hub and concourses that run throughout the <a href="https://www.westfieldcorp.com/new-developments/" target="_blank">entire World Trade Center site in</a><a href="https://www.westfieldcorp.com/new-developments/" target="_blank"> Lower Manhattan</a>.
The development leasing is being overseen by David Ruddick who sits on the Global Leasing Committee of Westfield. 
His experience in the shopping center industry extends over 25 years, having led leasing in Westfield Sydney. He has also headed the leasing of Westfield Brazil, and held senior roles in London and Italy.
It was 2011 when the Port Authority of New York and New Jersey struck a deal with shopping centre operator Westfield which won the rights to redevelop that retail in mid-2001 but sold its stake in the property back to the Port Authority after the terrorist attack.
The New York leasing advisory was contained within today's half year announcements which indicted the newly formed company outlook and forecasts are consistent with the information contained in the security holder booklet for the recent restructure.
 
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Westfield Corporation was formed on 30 June 2014, following the restructure of the Westfield Group.
“We are very pleased with the performance of both Westfield Corporation and Scentre Group since the announcement and completion of the restructure," Westfield Corporation chairman Frank Lowy said.
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"As of today, with the new entities combined market capitalisation of approximately A$35bn, the restructure has created A$4.5bn of value for the shareholders of the former Westfield Group and Westfield Retail Trust.” 
WFD has assets under management of $27.7 billion, with balance sheet assets of $19.2 billion and a gearing ratio of 35.1% at 30 June 2014.
WFD’s portfolio of 40 shopping centres in the United States and United Kingdom has a strategy to focus on creating and operating iconic assets in major markets that deliver great experiences for consumers and retailers. 
"We aim to achieve this with an increased focus on digital technology and by bringing together the best of fashion, food, entertainment and leisure.”
WFD’s portfolio achieved comparable net operating income growth of 5.3% for the six months ending 30 June 2014. 
WFD’s flagship portfolio of 11 centres representing 66% of the total portfolio (by value), achieved comparable net operating income growth of 5.5% for the six month period. WFD’s Regional portfolio of 23 centres representing 30% of the total portfolio (by value), achieved comparable net operating income growth of 5.0%.
Portfolio specialty sales productivity was $681 per square foot with comparable specialty retail sales up 4.2% for the year ending 30 June 2014. The flagship portfolio achieved specialty retail sales of $954 per square foot, up 5.8% with the Regional portfolio achieving specialty retail sales of $467 per square foot, up 2.1%. 
“Specialty sales performance in our flagship portfolio is pleasing. We continue our focus on investing in high quality assets, introducing a diverse range of global retailers in our portfolio and, through Westfield Labs, digital innovation,” Steven Lowy said. 
At 30 June 2014, the portfolio was 94.4% leased, slightly up from June last year, with the flagship portfolio at 95.9% leased and the regional portfolio at 93.1% leased. 
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jchancellor-FAypfDUnLy

New York's Westfield World Trade Center 70% pre-leased 

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It gets rather tiring reading the commentary on UK house prices from people who have clearly never been here, less still have a modicum of ability to interpret data.
The latest angle has been that London prices have 'crashed' due to a monthly movement in Rightmove's asking price index.
Well, no.
For one thing, even Rightmove themselves warned that their asking price index is volatile and treated with caution, and particularly so in August historically, (not to mention that the very same index increased by well over 10% in October, which should tell you everything you need to know about its reliability on a month to month basis). 
In short, we see the London market cooling back a little over the next 12 months. 
Investors who want to outperform should look at a couple of our recommended suburbs including a couple of those set to benefit from the construction of the Crossrail project.
Away from London the market has never really gotten that hot post financial crisis, and in many areas is actually still very flat, with stock turnover very slow.
Anyway, back in the real world, here's the latest data from the <a href="https://www.ons.gov.uk/ons/rel/hpi/house-price-index/june-2014/stb-june-2014" target="_blank">Office for National Statistics</a> (click chart):
<img src="https://3.bp.blogspot.com/-qWQbQphzoEw/U_bqbsfrLAI/AAAAAAAAPTU/hfcpKOmMhSM/s1600/ONS%2BHPI.jpg">
London is denoted by the red line, recording the highest growth in the nation. 
Key points:
<ul>
<li>"UK house prices increased by 10.2% in the year to June 2014, down from 10.4% in the year to May 2014.</li>
<li>"House price annual inflation was 10.7% in England, 3.5% in Wales, 6.0% in Scotland and 4.9% in Northern Ireland.</li>
<li>"House prices are increasing strongly across most parts of the UK, with prices in London again showing the highest growth.</li>
<li>"Annual house price increases in England were driven by an annual increase in London of 19.3% and to a lesser extent increases in the South East (9.7%) and the East (7.9%).</li>
<li>"Excluding London and the South East, UK house prices increased by 6.3% in the 12 months to June 2014.</li>
<li>"On a seasonally adjusted basis, average house prices increased by 0.5% between May and June 2014."</li>
</ul>
Northern Ireland to reinflate a housing bubble?
The ONS data for Northern Ireland (NI) shows that its house prices are up 4.9% on a year ago raising the interesting question of whether the country will repeat any of the same mistakes of the last decade. It seems unlikely that price will be allowed to run upwards unchecked as they were through to 2007. At the peak of the bubble in June 2007, NI house prices had increased by 55.9% in only a year before eventually reversing.
The worst year in NI was the year to June 2009 when prices fell by 23% in only 12 months, before falling further through 2010 to 2012.
 <img src="https://1.bp.blogspot.com/-Y27_XtDuFJ0/U_bzwrhFSvI/AAAAAAAAPTk/yCbsZfbASeY/s1600/ONS%2BIreland.jpg">
Despite claims to the contrary, London is a very different proposition. 
Quite apart from being a major international financial centre, with a population of more than 8.3 million the ratio of new housing stock to established in such a large city remains immaterial and thus limited in its impact on the market.
The population of Belfast by contrast is only 280,000, so a boom in levels of construction can have a marked impact on housing market economics.
Ireland experienced a perfect, self-perpetuating housing bubble storm of full employment, booming prices and massive overbuilding. 
London has the opposite problem after years of woefully inadequate construction despite rapid population growth.
UK property 'bubble'
I've been back in my home city of Sheffield in Yorkshire the past couple of days.
Listening to some overseas commentary about the UK market, you'd think the property market across Britain was apparently in a bubble. 
Yet surely only someone who doesn't know the meaning of the word could describe the ex-London UK housing market as a bubble.
Speculative mania? Uncontrollable credit growth?
Prices have gone absolutely nowhere for more than seven years - backwards in many cases - and this through a period when inflation has been romping along at a 5% pace at times. In real terms, prices are way down in regional markets across England.
<img src="https://3.bp.blogspot.com/-J_yxXhZKh4I/U_fLUZ53MvI/AAAAAAAAPUY/OfNyv7rNqF4/s1600/UKHPIexlondon.jpg" style="line-height: 1.3em;">
The truth of the matter is that away from London and the south-east most housing markets remain painfully slow. Much of the same housing stock which was for sale when I was over here a year ago and the year before that still remains for sale.
This is a key reason why I don't invest in regional markets. Property is an illiquid enough asset as it is without compounding matters by investing in thin markets where demand is low.
Australia will get a sharp downturn one day, and when we do illiquid, depreciating assets will prove to be very painful for some investors who want to sell.
Being back in Sheffield in northern England it has been very notable how developments like the Hallam Tower have not progressed one iota in more than 10 years, and this is a site with the most spectacular views across the city.
The <a href="https://www.theguardian.com/artanddesign/the-camera-eye/2014/mar/05/park-hill-sheffield-utopian-estate-left-to-die" target="_blank">Park Hill redevelopment</a> has progressed a little over the past decade but much of it is still derelict.
A property bubble? Hardly. Britain's housing market is very much a case of London and the south-east versus the rest.
Article continues on the next page. Please click below.
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Sydney property market...bazinga
We've been suggesting for a couple of years now that low interest rates will keep property investors hammering the Sydney property market, and it's certainly been the case that interest rate cuts have had a marked effect on market activity through recent cycles. 
The chart below shows the correlation between the first rate cut of the most recent easing cycles and auction clearance rates. Through September and October 2008 the official cash rate was cut from 7.25% to 6%. And then in November 2011 the cash rate was cut to 4.50%, heralding the beginning of the latest cycle. You can see below the reaction of Australia's major property markets.
 <img src="https://pbs.twimg.com/media/BvMWrGmCQAA3V24.jpg:large">
For months commentators have been suggesting that the market is fading, but we have had to agree to disagree. Au contraire, with the cash rate now at only 2.50%, demand from investors in particular is exceptionally strong and rising. If you have been following the data, you will know that investor finance in New South Wales is going through the roof.
<img src="https://2.bp.blogspot.com/-HDjRCgTH1rU/U_j2UpeZ7SI/AAAAAAAAPUo/2O_S4n_uoBM/s1600/Lending%2BFinance.jpg">
There is also a theory that investors in the Sydney market have been "pulled forward" and therefore the market has been overdue to reverse. 
Perhaps yes to some extent, but in reality rising dwelling prices in Sydney have created more equity for redraw, low interest rates have led household savings higher allowing potential investors to employ more leverage...and if the Aussie dollar slides further then more foreign capital may find its way into the Sydney and Melbourne markets too.
Weekend - auctions booming
Anyways, it was an absolute rip-snorter of a weekend of auctions despite the rain.
 <img src="https://2.bp.blogspot.com/-pTJtvcW1wYY/U_j49q5WbUI/AAAAAAAAPU0/H43d2jWt1Qk/s1600/BRAD.jpg">
Australian Property Monitors recorded a thumping preliminary auction clearance rate of 83.4%, with the trend over the past five weeks one of a strengthening market as we move towards spring.
<img src="https://1.bp.blogspot.com/-TnANmsToDuw/U_kXfUHs2yI/AAAAAAAAPVQ/simOIqaMAKk/s1600/AU1.jpg">
Source: Australian Property Monitors.
RP Data, which typically records a lower result, came in at 75.8%.
No slowdown there. As for where the market is really firing...one of our favourite suburbs of the past five years just keeps on going, recording a perfect 100% clearance rate this weekend...
<img src="https://1.bp.blogspot.com/-ZRRJ6sETWA4/U_j604fYMgI/AAAAAAAAPVA/knswQxUc8G8/s1600/ERKO.jpg">
You can visit <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) or Pete's <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blog</a>.
His latest book is '<a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>' .
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What we can learn from the UK property 'bubble'

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The world's first kilometre tall highrise is to set to start construction later this year. 
Saudi Arabia's Kingdom Tower in Jeddah, Saudi Arabia designed by Adrian Smith + Gordon Gill Architecture, will boast a number of world firsts, including 56 of the world's fastest elevators. It's expected to be completed in 2018 at a cost of $US1.23 billion.
It will overtake the Burj Khalifa, in Dubai and which Adrian Smith had previously worked on, as the tallest building by 173 metres.
The Kingdom Tower will include hotels, offices, apartments and an observation spot and will be cheaper per square metre than its tallest predecessor.
<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/2014/08/14/140707%20Kingdom%20Tower%20versus%20the%20London%20skyline%20graphic.jpg" alt="">
In an interview with Saudi Arabian newspaper Al Sharq, Prince Al-Waleed bin Talal said that it will be part of a larger 3,500,000 square metres of real estate.
"The Kingdom Tower will be a milestone in this project, because it will boost the value of the rest of the property," he said. Bin Talal said that they expect a return on investment over a period of 10 years.  
Asked by Al Sharq about Burj Khalifa's difficulty in finding tenants, bin Talal said that the development sold out and the developers got their money.
"It is the new owners who are not able to find tenants. The hotel there does very well," he said. "The problem is that Dubai faced a crisis of its own excess, add to that the crisis that hit the global banking sector in 2008, and add a new economic crisis faced by many countries around the world such as Greece, Italy and others. All these factors weighed heavily on the shoulders of the real estate market in Dubai."
Kingdom Tower continues the trend of “supertall” highrises over 300 metres. 
More than 50% of buildings over 300 metres in height have been built in the last four years, with just one, the Gold Coast's Q1, in Australia. The Eureka Tower in Melbourne falls just short of the classification at 297 metres.
The Middle East and Asia accounts for 90% of "supertall" projects, including the Kingdom Tower.
By 2020, the average total height of the top 20 tallest buildings globally is expected to be around 600 metres. 
Interestingly, these highrises bring their own challenges. In Australia, <a href="/expert-insights/building/numerous-sydney-areas-rezoned-to-allow-for-higher-density-developments">n</a><a href="/expert-insights/building/numerous-sydney-areas-rezoned-to-allow-for-higher-density-developments">ew multi storey towers were recently suggested for a number of areas of Sydney under zoning changes</a>. This is likely to prompt plenty of community opposition, despite no suggestion they will be one kilometre tall, record breaking offerings.
Insurance is also a challenge when it comes to the super highrises. Allianz Global Corporate &amp; Speciality (AGCS), who were also the insurer of the Gold Coast’s Q1, have created a Supertall Buildings Risk Bulletin detailing the challenges.
AGCS regional manager engineering, Ronan Gallgher, said that insurance has a huge role in managing the complex risks of these projects.
“One of the biggest challenges of such developments relates to safety and the success of the design because many materials are being used at the limits of their performance capability,” he said.
Photos courtesy of Adrian Smith + Gordon Gill Architecture.
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Kingdom Tower, one kilometre into the sky: New tallest highrise, new challenges

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Costly trophy homes and expensive purchases are a source of fascination for real estate fans across Australia.
Daily, our trophy homes section is filled with new tales of multi-million dollar homes in prestige Point Piper, Sandy Bay, Vaucluse, Peppermint Bay and any other number of top dollar properties. They’re often beautiful, and sometimes gaudy, but always worth a look.
Interestingly, despite the record-breaking sales seen by some of these homes, they don’t rate a mention on this infographic detailing the world’s most expensive homes.
Unsurprisingly, <a href="/news/worlds-tallest-house-in-mumbai-getting-new-neighbours">Antilia</a> tops the list, with a staggering price over $1 billion.
<img src="/images/2014/08/12/Do%20My%20Own%20Home%20Loan%20IG%20FINAL.jpg" alt="">
Source: <a href="https://domyownhomeloan.com.au/" target="_blank">Do My Own Home Loan</a>
Photo courtesy of Wikimedia Commons.
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The world’s most expensive homes and their owners: Infographic

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Makeup businessman Napoleon Perdis is off to Athens, according to the SMH columnist Andrew Hornery, so his two homes in the United States are up for sale.
Perdis told Hornery's PS column that he and wife Soula Marie, along with their four daughters, would be moving to Athens next year.
He has listed his two existing homes in America, one with a $6 million plus price tag in the Hollywood Hills. 
The other is the family's weekender, up for sale for $4 million in the desert resort of Palm Springs.
The two homes are located <a href="https://www.realtor.com/realestateandhomes-detail/7218-Mulholland-Dr_Los-Angeles_CA_90068_M11741-85515" target="_blank">on Mulholland Drive</a> in Los Angeles (pictured above) and <a href="https://www.realtor.com/realestateandhomes-detail/700-Tamarisk-Ln_Palm-Springs_CA_92262_M29261-29038" target="_blank">on Tamarisk Drive</a> in Palm Springs (pictured below).
The four storey Napoleon Perdis home in Los Angeles is a lavish Mediterranean-style home set in the Hollywood Hills. The six-bedroom, eight bathroom  home has 7,200 square feet of space. opulent, drenched-in-grandeur extravagance.
It is for sale at $6 million. The Hollywood Hills home last traded at $3.8 million in 2005. 
South of Los Angeles, in the getaway town of Palm Springs, is the five-bedroom, six bathroom contemporary structure covering 5,000 square feet with mountain view. It traded in 2008 at $1,805,000.
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Athens-bound Aussie Napoleon Perdis lists Hollywood and Palm Springs homes

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Comedian Andy Samberg and musician Joanna Newsom have bought an expansive LA home that once housed Hollywood legends.

The musical duo reportedly purchased Moorcrest for US$6.25 million in March. The home, formerly rented by Charlie Chaplin, seems a better fit for someone like a boss than a tramp - proving that Andy Samberg may not be such a normal guy after all.

While not <a href="https://www.youtube.com/watch?v=ODz2rUXpKWw">the 'Bu,</a> the house is still <a href="https://www.youtube.com/watch?v=KnuJ0UOn7w4" target="_blank">in California</a>, located in Beachwood Canyon. The home was originally built as part of the Krotona Colony, the national headquarters of the Theosophical Society, an esoteric philosophical group that hopes to "form a nucleaus of the universal brotherhood of humanity".

<img alt="" src="/images/2014/07/22/ac9dc480-0ea9-11e4-b0ef-7bb2bf6cff6e_andy-samberg-joanna-newsom-13-dining.jpg">

The decadent design of the home has Moorish, Gothic, Mission-revivalist and Art Nouveau elements. According to Jewish Business News, the vendors purchased the home for US$900,000 in 1996. They reportedly listed the home with US$9,989,000 million in 2006, then lowered the asking price to US$7.4 million the next year. Newsom and Sandberg apparently bought the home in an off-market deal.

<img alt="" src="/images/2014/07/22/Joanna_Newsom_-_Have_One_On_Me.jpg">

Newsom, a critically acclaimed songwriter, harpist, pianist and singer, may occasionally wish to lounge around among elaborate antiques with a stuffed peacock, as she does on the cover of her three-record release Have One on Me (pictured above). She now has the perfect living room - complete with peacock (below).

 <img alt="" src="/images/2014/07/22/903e6e70-0ea9-11e4-b7c6-ff743a0613c9_andy-samberg-joanna-newsom-9-living-area.jpg">

The four bedroom, six bathroom house was designed by Marie Russak Hotchener and built in 1921, when female architects were a rarity. 
The home also includes a glass-toped dome atrium (pictured below), where the couple can look up at the stars - <a href="https://www.youtube.com/watch?v=QWFsBQcexkg" target="_blank">on a good day</a> (or night, rather), Newsom may even be able to see <a href="https://www.youtube.com/watch?v=UGoNCvoZuYA" target="_blank">the Pleiades</a>.

<img alt="" src="/images/2014/07/22/9dc2d1d0-0ea9-11e4-b39b-e5f776518803_andy-samberg-joanna-newsom-19-atrium-top.jpg">

The huge kitchen has a raised fireplace, wrap around benches and central lonely island for serving boiled goose.

<img alt="" src="/images/2014/07/22/a0e6f530-0ea9-11e4-b39b-e5f776518803_andy-samberg-joanna-newsom-24-kitchen-wide.jpg">

There is also a substantial dressing room, perfect for Newsom's coats of <a href="https://www.youtube.com/watch?v=-LgQhfusf_E" target="_blank">boucle, jacquard and cashmere</a>, and Samberg's <a href="https://www.youtube.com/watch?v=ogG2p_ZUaaQ" target="_blank">turtlenecks and chains</a>. <img alt="" src="/images/2014/07/22/094eab50-0ea9-11e4-816c-17b57f80985f_andy-samberg-joanna-newsom-44-sinks-vanity.jpg">

The listing photos, now removed from their website, show ivy on the walls (<a href="https://www.youtube.com/watch?v=qn7duAZjP8w" target="_blank">but not around the lettering</a>) of the incredible home, with lush gardens providing plenty of room for <a href="https://www.youtube.com/watch?v=47yuiPK01kg" target="_blank">a sprout and a bean</a> to grow.

<img alt="" src="/images/2014/07/22/ivy.jpg">

There is also a pool, with a <a href="https://www.youtube.com/watch?v=nQbgIy2bj9Y" target="_blank">bridge (but no balloons)</a>. The pool area also has a man-made cave, perfect for Hot Rod star Sandberg, who <a href="https://www.youtube.com/watch?v=TbaBoWQSGak" target="_blank">likes to party</a>.

<img alt="" src="/images/2014/07/22/148e00b0-0ea9-11e4-b0ef-7bb2bf6cff6e_andy-samberg-joanna-newsom-47-pool-bridge.jpg">

According to Hollywood lore, Charlie Chaplin rented the home in the early 1920s before it was purchased by the parents of Maltese Falcon star Mary Astor in 1925. They sold the house at auction for $21,500 in 1934.

[smartcode_project:default project_id=27406]

Newsom is known for her albums The Milk Eyed Mender, Ys and Have One On Me. Samberg is a comedian who currently stars in Brooklyn 99, was formerly a cast member on Saturday Night Live and is a member of The Lonely Island.
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From Incredibad to Chaplin's pad - Andy Samberg and Joanna Newsom buy legendary Hollywood home

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Bali… Bucolic Bliss or Beach Bellini? 
The dream of buying a second home in Bali is a reality for many Australians, particularly retirees, people working in the Asia region and those with fly-in, fly-out jobs. 
One of our most popular destinations for a quick and cheap tropical getaway, Bali has a broad range of property options. But prices are not cheap anymore due to strong consumer demand driven by wealthy Indonesians (mostly from Jakarta and Surabaya), buyers from Australia and Europe, and Asian expats from Hong Kong and Singapore. 
During the past five years, Bali has become a major investment opportunity, especially for the luxury property market. Since early 2012 land prices have skyrocketed - particularly in Legian, Seminyak and Petitenget, thriving beachside lifestyle areas with a plethora of luxury villas, upmarket hotels, shopping boutiques, world-class restaurants, bars and clubs.
Given soaring prices around Seminyak, developers and villa buyers have looked further afield. Many moved north up the coast and also inland to areas such as Canggu, Tabanan and Tanah Lot, and in the other direction to Uluwatu, a windswept area on the island's most southern tip.
A <a href="https://www.theguardian.com/world/2013/mar/09/bali-property-frenzy-islanders-boom" target="_blank">report in The Guardian</a> states: “Development can be seen pretty much everywhere along the southern coast, with old buildings bulldozed to make way for new commercial properties, among them glittering cafes and restaurant ventures to cater to the ever-burgeoning market of wealthy clientele.”
“In the upmarket beachfront Canggu area, Echo Beach is now home to an InterContinental hotel and the Sea Sentosa project, a resort that calls itself "the benchmark for unparalleled luxury", while a Sunset Road extension is planned to link the capital, Denpasar, with Bali's more western beaches.”  
Land prices also have surged around seaside Sanur (an area inhabited since the 1960s by bule, the Balinese term for foreigners) and the cultural mountain village of Ubud, known for its yoga retreats, art galleries and brilliant green rice terraces. According to research by Elite Havens, Ubud’s land prices increased by about 55% during 2012. 
There are a range of alternatives for structuring one’s property ownership in Bali, but that is a story for another day.
This week our property contrarians, Jonathan Chancellor and Margie Blok, choose their pick of villas for sale in Bali’s bucolic inland village regions and blissful beachside areas.
HE SAID:<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/2014/03/28/jc-silhouette-7.jpg" style="float: right;">
I prefer Bali’s inland regions for the peace, privacy and traditional village life. For me, this is the real Bali. 
I enjoy waking to crowing roosters, the distinctive sound of gamelan music drifting across rice terraces at sunset, and the ubiquitous village religious ceremonies with temple dancers wearing elaborate head dresses, women balancing enormous offering baskets on their heads, and men carrying umbrellas for the gods. 
All this and more is on offer at a blissfully bucolic villa in the charming village of Buduk in the Canggu region. While it feels miles from nowhere, the beautifully appointed 450 square metre villa is a five minutes minute drive from the new hotel/restaurant precinct of Echo Beach, and 8 kilometres (or 25 minute drive) north-west of the trendy restaurant area of Seminyak.
<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/2014/07/18/bali%20july%2018%20two.jpg" alt="">
Built four years ago, and renovated extensively last year, the villas stands privately on an elevated 1,460 square metre block with picturesque views of surrounding rice fields and a church spire in the distance.
<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/2014/07/18/bali%20july%2018%20three.jpg" alt="">
There are three oversize double bedrooms (each with air-conditioning, bespoke joinery and a limestone ensuite) including the master suite with a separate room suited to an office or television/media room.
Honed marble floors and soaring vaulted ceilings are features of the enormous 20 metre x 7 metre living/dining zone with a custom-designed teak and terrazzo kitchen and bar at one end. Concealed behind the kitchen is second kitchen for staff and caterers. 
<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/2014/07/18/bali%20july%2018%20five.jpg" alt="">
Outside are a 14-metre swimming pool and a luxuriously appointed open-air living/entertainment “bale” with bespoke cabinetry and glorious views. Other features include staff quarters, a double carport, guest parking and a koi pond. 
<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/2014/07/18/bali%20july%2018%20six.jpg" alt="">
The property is for sale at US$895,000<a href="https://www.baliselectproperty.com/Property?PropertyId=7100" target="_blank"> through Adrian Savage at Bali Select Property</a>.
Margie Blok's choice is on the next page. Please click below.
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<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/2014/03/28/mb-silhouette-6.jpg" style="float: left;">
SHE SAID:
It’s the beach for me - but not busy tourist precincts or seaside villages that take hours to reach by car.
I love Bali’s East Coast. In particular, the quiet coastal village of Saba, 15 minutes drive from Sanur, 30 minutes from the airport (via the new Benoa bypass road), 20 minutes from Denpasar and 40 minutes from Ubud.
The Saba property I would buy (if I had US$4 million to throw around) is a <a href="https://www.elitehavenssales.com/property/63/East-coast-luxury" target="_blank">magnificent 5,000 square metres beachfront estate</a> with approximately 70 metres of beach frontage, and a superb five-bedroom villa compound consisting of two dwellings that combine Bali’s traditional elements with western luxury. 
<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/2014/07/18/bali%20july%2018%202%20two.jpg" alt="">
Approached by a scenic drive through rice fields, the property is at the end of very long paved driveway/private road. Surrounded by manicured gardens with vast level lawns and a sparkling swimming pool measuring 18 metres by 7 metres, the two-storey main residence has an enormous master bedroom suite (with a dressing room and stunning bathroom) on the upper level. 
At entry level are an impressive entrance foyer, vast open-plan living and dining areas (flowing to the grounds outside), a large modern kitchen, two bedroom suites (with beach views) and a beautifully appointed guest bathroom. 
<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/2014/07/18/bali%20july%2018%202%20one.jpg" alt="">
Also in the grounds is a spacious wantilan (an outdoor meeting and entertainment pavilion used for lounging and dining) with a bathroom and a kitchen. 
The second dwelling is a self-contained guest house with a living room, two bedrooms and a bathroom. 
<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/2014/07/18/bali%20july%2018%202%20three.jpg" alt="">
Certain to appreciate in value given its size and beachside location, the 5,000 square metre estate includes staff quarters and a 2,000 square metre parcel of vacant land which the owners have kept undeveloped as a green belt for absolute privacy.  The 2,000 sqm parcel could be developed or sold separately.
<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/2014/07/18/bali%20july%2018%202%20four.jpg" alt="">
Since Bali property prices skyrocketed, it is impossible to find a beachfront property of this size with such close proximity to Sanur. When you consider the cost of land in this premium beachfront precinct, you are practically getting the house for nothing in the property’s US$4 million price.
<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/2014/07/18/bali%20july%2018%202%20five.jpg" alt="">
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Bali… Bucolic Bliss or Beach Bellini? He Said/She Said

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Increasing liberalisation in the Asian insurance market is driving property investment, according to a new report from CBRE.
Historically, there have been strict regulations around insurance company investments in Asia, with limitations on real estate purchses. But CBRE's Liberalization and the Rise of Asian Insurance Investment in Real Estate report claims several Asian countries have begun to allow overseas direct investment with a greater threshold for real estate investment.
Total insurance assets in Asia outstripped the US and UK's insurance assets, according to insurance regulators in 10 Asia jurisdictions. Asia has US$6.7 trillion insurance assets, while the US has $5.8 trillion and the UK US$3 trillion. On the basis of total assets, Japan has the highest insurance market of anywhere in Asia, with US$3.3 trillion of assets. The majority region's other insurance assets are held by China, South Korea and Taiwan, with the four East Asian markets controlling around 90% of Asia's total insurance assets.
According to CBRE, Asian insurance companies generally operate under strict regulations controlling overseas real estate investment. The real estate company found that most of Asia's offshore insurance investments were in liquid assets including bonds, equities, cash and fixed income. It's estimated that only 2% of the continent's insurer's portfolios was made up of real estate at the end of 2013. CBRE claims that real estate generally makes up 4-6% of insurers' assets in "developed markets", with the US tying up 6.7% of their assets in real estate, and the UK 5.1%.
Of Asian countries, Taiwan has one of the highest proportions of real estate investment, with property the asset class making up 4.8% of their total insurance investments. The country only began allowing overseas investments for insurance companies in 2013.
CBRE expects the rapid growth of Asia's insurers and increasing deregulation will see US$75 billion entering the real estate market in between 2013 and 2018, with investment growing from US$130 billion to US$205 billion in five years. The apparent lack of appropriate investment opportunities in Asia and the ongoing liberalisation of Asia's insurance investment practices continues to result in increased offshore investment from Asia, according to CBRE.
The company reports that last year Asian insurers purchased about $2.4 billion in direct commercial real estate purchases outside the Asia Pacific region, with a strong preference for "trophy assets in gateway cities" such as London and New York. According to Ada Choi, senior director for CBRE research, the company expects the increase in real estate investment will be paralleled by total growth in the sector over the next five years.
"Looking ahead to the longer term, liberalization for insurance companies will speed up the pace of international real estate investments by Asian insurance companies," said Choi.
"We expect that further relaxation on overseas real estate investment will take place as regulators gain more confidence about overseeing such investments and insurance firms become savvier about investing globally," she said.
In particular, low yields for local prime core assets have seen Chinese and Taiwanese insurers opt for overseas property investments, with a preference for full ownership. CBRE expects Japanese insurers to continue to primarily invest in their own domestic market, while South Korean insurance companies are expected to use more indirect channels to acquire offshore assets.
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Deregulation of Asian insurers driving investment: CBRE

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This Auckland, New Zealand offering is a long bushland setting in the land of the long white cloud.
The Birkenhead Point property is marketed as a "rare and idyllic slice of paradise".
Some 12,329 square metres of native bush, 10 minutes by ferry or car to the Auckland CBD. Birkenhead is located on the north shore of the Waitemata Harbour.
Two properties each with one home make up the offering, one at 95C Hinemoa Street and an adjoining site at 11 Learmonth Avenue.
"Together they present an unprecedented prospect for development, or the canvas for a truly unique, park-like private dwelling," the Bayleys listing agent Malcolm Low said.
The <a href="https://www.propertyobserver.com.au/https://www.bayleys.co.nz/Listings/Auckland/North-Shore-City/Birkenhead-Point/1450228" target="_blank">tender closes July 17. </a>
Lows suggests buyers will construct several high-end residences.
With jobs as well as amenities, the former Reserve Bank chairman and economist Arthur Grimes recently suggested Auckland increasingly drew people from within New Zealand, returning Kiwis and from Australia and elsewhere.
"Other cities were good-looking, but Auckland had jobs as well as amenities," he told the stuff website.
Property prices in Auckland continue to rise despite lending restrictions and higher interest rates withy figures released this week by QV show the Auckland market increased 12.3% year on year.
Values are up 31.4% since 2007 peak.
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Long slice of residential Auckland bushland listed

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The Spanish-style estate of Reese Witherspoon and her husband, talent agent Jim Roth, is on the market.
At just over 0.5 hectares, Witherspoon’s double plot is a fraction of the size of the sprawling grounds that housed her Cruel Intentions character, Annette Hargrove, whose scenes at Mrs Rosemont’s house were filmed at the famous 64.5 hectare Old Westbury Gardens.
Even so, the property’s <a href="https://340northgunston.com/" target="_blank">US$14 million price tag</a> is nothing to sniff at.
Witherspoon’s Brentwood estate, in sweet home California, is situated at the end of a cul de sac in the gated Brentwood Circle community. The home has five bedrooms, each with its own bathroom with shower (which Witherspoon no doubt avoids for 24 hours after a perm) and a powder room. The master bedroom has a vaulted ceiling, fireplace, lavish marble bath, in built robes and a separate gym or office.
The house has a double height entry leading to a formal living room, formal dining room and a cozy library, where one could curl up around a copy of Les Laisons Dangereuses. 
The eat-in kitchen and family home open through French doors to the gardens and lawns, allowing residents to walk the line between the indoors and outdoors.  Outside, there is also a pool, which would hold enough water for elephants, and a spa, perfect for filming an application video for law school. The family friendly gardens hold a sunken trampoline, children’s playground and vegetable gardens.
Australia also makes its mark on Witherspoon’s home, with tall eucalyptus trees on the property.
Witherspoon’s home is selling through David Offer. A 2,682 square metre portion of the property is also available to purchase separately.  
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