The final apartments in the most recently completed new development in Balwyn present some of the largest and most exclusive ever delivered in one of Melbourne’s most established and character-rich neighbourhoods.

Boutique developer&nbsp;<a href="https://www.apartments.com.au/developers/wulff-projects">Wulff Projects</a>,&nbsp;alongside partner <a href="https://www.apartments.com.au/developers/pga-group">PGA Group</a>, has just finished <a href="https://www.apartments.com.au/buildings/threadneedle-balwyn-1-5-threadneedle-street-balwyn-vic-3103">Threadneedle</a>, 17 home-sized residences designed completely for the owner-occupier.

Named after its location on Threadneedle Street, the new project has been shaped by the heritage fabric of Balwyn. It offers two low-rise buildings of eight and nine apartments respectively, designed to emulate traditional standalone homes.&nbsp;

[smartcode_project:default project_id=27816 project_image_fid=355582]

John Scaramuzzino, Director at <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, explains the design intention.

“Given the quiet residential character of the street with many homes dating back to the 1930s and 1940s, we approached Threadneedle wanting to appear less as a collection of apartments and more as a traditional residence. This led to creating not one but two buildings that could “breathe” with larger garden-based apartments functioning more like small homes.”

[smartcode_project:default project_id=27816 project_image_fid=355605]

The north-facing residences are nestled among extensive landscaped gardens by Ben Scott Garden Design, with over one-third of the site dedicated to greenery. The resulting setting is one of calm seclusion, where architecture and landscape work in tandem to offer immediate liveability.

With construction now complete, the final apartments include a top-floor, single-level penthouse residence priced from $2.8 million. This home offers three bedrooms, a dedicated study, two bathrooms plus powder room, and three car spaces with an oversized storage room.&nbsp;

Interiors prioritise spatial comfort and natural light, with three-metre-high ceilings, oversized internal doors and a full-width terrace oriented to the north, east and west.&nbsp;

[smartcode_project:default project_id=27816 project_image_fid=355604]

Floor-to-ceiling double-glazed windows ensure thermal performance across seasons, supported by automated external blinds, zoned heating and cooling, and a fireplace for added ambiance.

Each apartment has been individually designed to maximise privacy and garden outlooks. Kitchens combine refined finishes with practical considerations: stone benchtops, butler’s pantry, full-height joinery and concealed rangehoods.&nbsp;

The inclusion of dedicated home offices responds to contemporary living patterns, while bathrooms feature sculptural bathtubs and brushed nickel fixtures.&nbsp;

[smartcode_project:default project_id=27816 project_image_fid=355590]

Threadneedle also integrates best-practice sustainability measures, achieving a 7 Star average NatHERS rating. Initiatives include solar PV systems, rainwater harvesting for toilet flushing and irrigation, and high-performing building insulation. These elements enhance daily comfort while reducing ongoing maintenance and energy demand.

"We believe Threadneedle sets a new standard of design excellence and building quality for Balwyn,"&nbsp;Scaramuzzino added.

"It’s an architectural response we’re particularly proud of, and one we’re sure residents will be equally proud to call home."

[smartcode_project_cta:default project_id=27816]

Staff Writer

Final homes remaining as Threadneedle, Balwyn completes construction

Joel Robinson

Sydney's top 15 new apartments developments set to launch in 2026

Developer-builder <a href="https://www.apartments.com.au/developers/dasco-australia">DASCO</a> has pushed beyond the now-standard inclusions of rooftop pools and landscaped podiums at its recently launched new Epping project, Senso.

It has laid out over 4,000 sqm of resident-only amenity in a move designed to compete directly with low-density housing on livability, not just density. The result is a development that supports genuine daily use through purposeful spaces distributed across its five-building, 479-apartment precinct.

[smartcode_project:default project_id=134954 project_image_fid=4396]

Two rooftop pools form the anchor of Senso. One is a 27-metre lap pool adjoining a heated spa, designed for everyday fitness rather than just summer leisure. The second sits on a lower podium, allowing different buildings to share in vertical access and reducing crowding during peak times.

It is the secondary spaces that start to distinguish Senso from other large-scale suburban projects. A rooftop cinema is integrated into a landscaped terrace, offering open-air screenings with natural ventilation and passive cooling.&nbsp;

The inclusion of a “sensory walk”, an elevated boardwalk that threads through the site, suggests a rare investment in non-commercial, non-essential amenity: space for quiet movement that doesn’t double as access or traffic circulation.

[smartcode_project:default project_id=134954 project_image_fid=4402]

The gym and wellness centre, often relegated to a small ground-floor room in many builds, takes on more substance here. Residents have access to a fully equipped gym, as well as outdoor yoga areas and meditative zones that integrate greenery and natural light.&nbsp;

The Club Lounge is similarly designed to support multiple use cases, with a private dining terrace, kitchenette, workspace, and lockable wine storage. These aren’t superficial additions; their scale and spatial allocation indicate serious intent for frequent resident use.

[smartcode_project:default project_id=134954 project_image_fid=4391]

Importantly, Senso’s amenities are embedded within a site that spans more than 10,000 sqm, allowing for better separation between spaces and reduced noise spillover, a critical but often overlooked factor in high-density developments. This spatial generosity also enables multiple alfresco kitchens and communal terraces without compromising individual privacy or usable space.

While many developments make claims about lifestyle, few back it with this level of built infrastructure. Senso’s mix of dedicated fitness, wellness, social and passive green spaces suggests a conscious response to the post-pandemic shift in housing expectations, especially among owner-occupiers.&nbsp;

DASCO is one of several leading developers who have taken out Resilience Insurance's Latent Defects Insurance policy, providing buyers with a 10-year structural and waterproofing warranty, and giving them the ultimate peace of mind.

Senso is scheduled for completion in late 2028.

[smartcode_project_cta:default project_id=134954]

The outdoor amenities elevating life at Senso, Epping

Following the proposal by the Minns Labor Government to rezone Parramatta Road to create up to 8,000 new homes, prominent developer Ceerose has gone to the NSW Gov to increase the density of its new mixed-use residential building in Leichhardt.

<a href="https://www.apartments.com.au/builders/ceerose">Ceerose</a>, founded by Edward Doueihi nearly three decades ago, has filed plans for 154 apartments above ground-floor retail at 307-315 Parramatta Road, a key corner site near Norton Street, the main high street strip in Leichhardt.

It's an upsize from the previously approved scheme of 63 apartments across a seven-storey building.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="ba1ae75b-5f08-43fb-b8d5-3de6d9f6ef71" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.39%E2%80%AFAM.png?VersionId=yA3hBBLPH4ev7MsAE0_hieXeqiFqBUb7" />

The project is being advanced through the State Significant Development (SSD) pathway, with concurrent rezoning sought to facilitate the proposal. The 10-storey development would rise over a four-level basement and deliver two retail tenancies, one a larger-format offering and the other a smaller “hole in the wall” space, addressing the Parramatta Road frontage. 21 of the apartments are dedicated as affordable housing.

According to the Urban Design Report by Architecture AND, the scheme includes a podium and tower configuration, with a fine-grain, two-storey parapet street wall that references the traditional shopfront rhythm along the corridor. “An elegant tower form is proposed, combined with a characterful two storey frontage... articulating it as two related buildings, providing consistency with the rhythm and grain of Parramatta Road,” the report notes.

The residential component is split across two slender towers set back from the street edge, a design move aimed at preserving solar access and reducing perceived bulk. This massing strategy also seeks to improve residential amenity by focusing scale toward the quieter northern interface, away from Parramatta Road’s noise and pollution.

<img alt="Ceerose" data-entity-type="file" data-entity-uuid="347f2f8f-5d36-4388-b40a-2e77380b9c19" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-04%20at%2010.31.02%E2%80%AFAM.png?VersionId=xvyUE2ujT1lzivXTo.mHBJFF4SmfgLtz" />

Architecture AND has worked with Ceerose on previous Inner West projects, and cites a deep familiarity with the local character. Their design draws heavily on context, heritage, and sunlight access considerations, and engages with the Inner West Council’s “Our Fairer Future” strategic planning framework.

The site spans 2,712 sqm and is located near key intersections with Catherine Street, Hay Street, and Redmond Street. It adjoins a public carpark to the north and is within walking distance of Stanmore and Petersham stations. It is also flagged in state and local planning strategies, including the Parramatta Road Corridor Urban Transformation Strategy, as a suitable candidate for increased density.

Ceerose recently completed The Alex Collective on McEvoy Street in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay.

The Parramatta Road corridor is coming to life with the proposed rezoning which is serviced by a significant number of bus, light rail and train routes.

Deicorp is progressing with its $1.8 billion <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-five-dock-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> precinct on Parramatta Road in Five Dock, as is <a href="https://www.apartments.com.au/news/nsw/toga-to-push-on-with-five-dock-mixed-use-masterplan">TOGA further down the street</a>. Those two projects alone will bring nearly 2,000 new homes to Parramatta Road.

First look: Ceerose plots mixed-use Leichhardt development on Parramatta Road

North Sydney's landmark 'SBS Building' on Alfred Street is set to be demolished to make way for a new mixed-use residential tower in the booming North Sydney.

Commercial property group FiveX is behind the plans for a <a href="https://www.apartments.com.au/new-apartments/275-alfred-street-north-north-sydney-nsw-2060">39-storey tower</a>, the latest project to advance under the NSW Government’s Housing Delivery Authority pathway.

They are proposing 184 apartments above retail spaces, which will replace the existing 20-storey commercial building. FiveX was set up more than five decades ago by Joshua and Marko Berger. It is currently led by Joshua's son Lesli.&nbsp;

<img alt="First look: Fivex plans 39-storey residential tower at 275 Alfred Street, North Sydney" data-entity-type="file" data-entity-uuid="2efa0980-53fa-4cca-9f9e-9c3c845d4746" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29%20%281%29_0.png?VersionId=y_YyPMq3NQLfYRs84pP4os9UgWiMLp75" />

According to the Architectural Design Report by <a href="https://www.apartments.com.au/architects/fjc-studio">FJC Studio</a>, the slender tower form has been deliberately designed to respect the site's transitional setting at the southern gateway to the North Sydney CBD, where high-rise towers give way to lower-scale residential precincts.

"The slender tower form and articulated podium establish a respectful relationship with nearby heritage and low rise buildings, including the Whaling Road Heritage Conservation Area,” the architecture firm noted, adding that the tower “completes a missing link in the urban fabric” while enhancing the Alfred Street streetscape.

The proposed building will include a mix of one-, two- and three-bedroom apartments, with 15 percent of the gross residential floor area allocated as affordable housing. There is an agreement already in place that those apartments will be managed by Evolve Housing.

The project aligns with broader state housing objectives, including the National Housing Accord target of delivering 1.2 million new homes by 2029. The Scoping Report filed with the State Significant Development Application (SSDA) suggests the site "presents no impediments to rapid delivery,” with construction able to commence within 12 months of receiving consent.

North Sydney has been one of the most popular suburbs in Sydney for new and off the plan apartment development, but hasn't had the supply to keep up with demand, until recently.

AURA by Aqualand was, for a long time, the only off the plan apartment building on the market. That completed last year, and has sold the majority of its 386 luxury apartments. Recently ALAND launched <a href="https://www.apartments.com.au/new-apartments/the-walden-173-179-walker-street-north-sydney-nsw-2060">The Walden</a> on the same street, selling over $100 million within just a few hours of its launch, while developer CASA also launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/the-mclaren-north-sydney-45-mclaren-street-north-sydney-nsw-2060">The McLaren</a>&nbsp;in the same precinct.

First look: Fivex plans 39-storey residential tower in booming North Sydney

Millers Point

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Nine terraces on Windmill Street in Millers Point have been listed for sale by Property NSW, on behalf of Family and Community Services.
The nine Windmill Street properties each contain three bedrooms and will be sold via an Expressions of Interest process through McGrath Estate Agents, closing 5 September.
Properties include:
3 Windmill Street    
7 Windmill Street
13 Windmill Street
17 Windmill Street
23 Windmill Street
31 Windmill Street
35 Windmill Street
41 Windmill Street
45 Windmill Street
The new listings mark the commencement of a new stage in the Millers Point program which will see a different product mix, including a diverse range of lofts and other apartments, and blocks of units, listed on the market over the coming months.
Proceeds from the Millers Point sale program will fund 1,500 new social housing dwellings across the State, with more than 600 new fit-for-purpose social housing dwellings funded to date.
The Windmill Street properties anchor a historically significant street in the unique precinct of Millers Point and The Rocks.
All properties sold in Millers Point are accompanied by strict heritage protections; including NSW Heritage Council-endorsed Conservation Management Plans.
The nine Windmill Street properties will be sold under a neighbourhood scheme title structure, rather than a Torrens title, to facilitate protection and management of the streetscape over time.
A total of 94 Millers Point properties have been sold so far, delivering circa $264 million for new social housing across NSW.
For more information, <a href="https://www.rediscovermillerspoint.com.au" target="_blank">click here</a>.
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jonathanchancellor-7SQnKwU6yx

Nine terraces on Windmill Street, Millers Point listed for sale

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Government Property NSW has listed 10 more Millers Point properties for sale through auction on behalf of the Department of Family and Community Services through McGrath Estate Agents.
Money from the sales will eventually be reinvested into some 1,500 social housing projects across NSW.
The below properties will go to auction 25 February. 
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752550" target="_blank">20 &amp; 22 Kent Street</a>: Neighbouring two and three bedroom residences, part of a group of three two storey terraces constructed on the site of a former quarry cutting in the 1870s.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752670" target="_blank">28 Kent Street</a>: A four bedroom two storey terrace built in the 1870s that was previously a barber shop and restaurant.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121753094" target="_blank">46 Kent Street</a>: Known as ‘Chelsea House’ – this property is a five bedroom, two storey terrace built for local auctioneer William Higstrim in the early 1870s.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752510" target="_blank">38 Argyle Place</a>: A four bedroom residence, part of the ‘Wentworth Terrace’ row built by the prominent Merriman family in 1887-1888.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752734" target="_blank">40 Argyle Place</a>: A three bedroom terrace that was occupied in the late 1880s by champion rower Charles A. Bros.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752390" target="_blank">60 Argyle Place</a>: A wide, grand three bedroom terrace in the Grimes’ Buildings row.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752358" target="_blank">51 Lower Fort Street</a>: Known as ‘Wendovir’, this four bedroom, three storey property is part of Palermo Terrace, constructed in the mid-1880s.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752378" target="_blank">63 Lower Fort Street</a>: A three bedroom residence in Vermont Terrace and an example of early Federation Queen Anne architecture.
<a href="https://www.realestate.com.au/property-house-nsw-millers+point-121752422" target="_blank">71 Lower Fort Street</a> (above): This three bedroom two storey residence, part of Eagleton Terrace, was built in 1876 by local shipwright, Robert Drysdale.
 
Government Property NSW  announced the appointment of McGrath Estate Agents as the exclusive sales agent for the next phase of the Government’s Millers Point terrace sales program late January.
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mick.cee-iDmgDDAmu8

10 heritage Millers Point properties on the market through Government Property NSW

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Government Property NSW today announced the appointment of McGrath Estate Agents as the exclusive sales agent for the next phase of the Government’s Millers Point terrace sales program.
The appointment will see McGrath market the sale of up to 50 Government-owned terrace properties to June 2016.
The appointment of McGrath followed a select tender issued to pre-qualified agents on the Government’s Real Estate Agents Panel, and complied with NSW Government procurement guidelines.
The first tranche of Millers Point properties for 2016 will list on 27 January. 
To date there have been 47 Government-owned properties sold in Millers Point, raising more than $116 million for social housing.
A corner Victorian-era terrace fetching $6.67 million was sold late last year by McGrath. 
1 Lower Fort Street, a four-storey terrace built circa 1879, forms part of the heritage significant <a href="https://www.realestate.com.au/property-house-nsw-millers+point-121222250" target="_blank">Milton Terrace row</a>.
The five-bedroom's price of $6.67 million was well beyond expectations of $4.5 million.
The property was sold through McGrath agents Lorraine Crawford and Peter Starr.
McGrath boss John McGrath <a href="/expert-insights/the-rocks-head-john-mcgrath-s-top-five-sydney-picks">signalled he liked the precinct's prospects</a> last year.
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jchancellor-FAypfDUnLy

McGrath secure Millers Point sales stranglehold

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Government Property NSW has sold its 1910 Munn Street, Millers Point apartment for $5.5 million, and announced eight new property listings for auction, including a Victorian terrace at prestigious 1 Lower Fort Street.
The pre-auction price guidance was $4.5 million plus.
The auction was through Richard Shalhoub and Peter Starr of McGrath.
“Highly competitive bidding was always expected for the freehold block of four two-bedroom apartments on Munn Street, given its exceptional location,” said Government Property NSW chief executive Brett Newman.
The property is situated in one of the most sought after areas of Millers Point with panoramic views across Barangaroo and towards Balmain.
Its apartments were ranging from 83sqm to 104sqm in size.
To date 39 government-owned properties have sold in Millers Point, raising more than $92 million for social housing across the state.
Proceeds from the Millers Point auctions are being reinvested into building more than 1,500 social housing dwellings across Sydney and regional NSW.
Close to 100 new dwellings have already been built in Condell Park, Padstow, Yagoona, Gymea, Lurnea, Chester Hill, Kingswood, Mount Warrigal, Beverly Hills, Warilla, Casula and Miranda.
The upcoming 1 Lower Fort Street – a four storey Victorian terrace built in the late 1870s which forms part of Milton Terrace row - has been listed for December 3 auction.
“Milton Terrace is one of the few remaining intact grand Victorian terraces in inner Sydney, and was built to coincide with the staging of the International Exhibition in 1879,” Newman said.
Another seven properties, marketed by McGrath Estate Agents, are:
<ul>
<li>Three residences in the Davies Terrace row built circa 1870: 28 Merriman Street (three bedrooms), 36 Merriman Street, (two bedrooms) and 38 Merriman Street (three bedrooms)</li>
<li>36 Kent Street, a three-bedroom terrace</li>
<li>55 Kent Street, a four-bedroom sandstone terrace</li>
<li>59 Kent Street, a three-bedroom end terrace in the Hexham Terrace row</li>
<li>71 Windmill Street, a four-bedroom terrace</li>
</ul>
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j.ballantyne1990-6AQqhLzZaK

NSW government raises $5.5 million through Millers Point property auction; eight more up for bidding

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<div class="cq-article-content-paras section">
Three more surplus social housing homes in Millers Point have been sold.
The three properties sold through Raine &amp; Horne Double Bay included 32 Kent Street, an 1870s, two-bedroom terrace at $1.5 million.
</div>
<div class="cq-article-content-paras section">
Another 1870s row house, at 56 Kent Street, sold for $1.68 million.
At 42 Kent Street, (below) with harbour views, an above-expectation $2.2 million was achieved by the NSW government.
<a href="https://www.realestate.com.au/photogallery_new.ds;jsessionid=F79541AF742788A3D14831BBBA1E6CCB?id=119722987&amp;theme=rea.sold" rel="photos" data-id="119722987"><img src="https://i3.au.reastatic.net/456x342/9cbf5d600f98d6e769e1dcdacaa950b9df685688c68546deaead803574f0a876/image2.jpg" alt="42 Kent Street, Millers Point" title="42 Kent Street, Millers Point" data-index="2"></a>
Next up are 18 Trinity Avenue, 34 Kent Street and 54 A&amp;B Kent Street.
More than $40 million has been secured in the sell-off.
Last month Grimes Cottage, at 50 Argyle Place in Millers Point secured the <a href="/expert-insights/buying/grimes-cottage-millers-point-sold-by-nsw-state-government">highest price yet in its staggered former social housing selldown at $4.23 million</a>.
</div>
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More Millers Point terraces sold off by the NSW government 

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Three more surplus government-owned property at Millers Point have been sold adding $6.7 million towards social housing projects in the suburbs.
They were all on Kent Street including<a href="https://www.mcgrath.com.au/buy/house-millers-point-nsw-2000/257134/?searchID=49852710" target="_blank"> 51 Kent Street</a> (pictured above), which is an 1855 terrace that sold at $2.45 million. The price guidance was $2 million to $2.2 million.
The Georgian-style terrace had been listed for auction last night through Peter Starr at McGrath Estate Agents.
The terraces at 39 and 49 Kent Street also sold. 
The 39 Kent Street terrace sits in a row built for solicitor/politician Sir George Wigram Allen. It sold at $1,725,000, having been listed with $1.5 million to $1.6 million price guidance.
The 49 Kent Street terrace fetched $2.54 million, having been listed with a $2 million to $2.2 million price estimate. It appears the Millers Point Government terrace selloff now gives closer sale price guidance than initially given when the sales campaigns kicked off las year.
The 47 Kent Street was auctioned last year at $1.64 million.
Properties sold late last year included 24, 28 and 32 Argyle Place fetching $2.3 million, $2.35 million and $2.15 million respectively.
The NSW government is proceeding with plans to sell the remaining 284 properties so funds can be reinvested back into the public housing system.
The government-owned properties in Millers Point secured a total of $21.9 million from its initial nine sales.
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Millers Point Government terrace selloff now gives closer sale price guidance

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GUEST OBSERVATION
Who really sets the end value of the home? 
This may well be determined soon enough, putting an end to many discussions held over the years regarding the contested topic. Most say the value is set by “what people want to pay for a home and what a vendor wants to accept”. Others believe the end decision is made by the the valuer. But let us not forget the final player: the bank.
No doubt the sale of the two <a href="/expert-insights/buying/the-second-millers-point-offering-fetches-2-56-million-for-state-government-housing">government-owned Millers Point properties </a>at such vast price points has placed a magnifying glass over the valuation process itself. The <a href="https://propertyobserver.com.au/finding/location/nsw/35454-millers-point-government-terrace-sell-off-with-record-2-6-million-plus-price-guidance" target="_blank">recent sales</a> will test everyone’s theories, perceptions and ideals as to who has the final call on the value of the home.
The agents
The agents are, we may say, the first line of clarification when ascertaining what a property is worth. A well versed agent in his or her field of expertise in their patch will promote their worth, first and foremost, by knowing their product.
In the first instance, when looking into the sales at Millers Point, the market opinion and price guide provided was $1,000,000. However, this was later adjusted to $1,300,000. This is a bench mark set by a professional that has years of knowledge and expertise in an area and a specific market. This is also knowledge that valuers often rely on to make their final call. After all, the agents live, breathe, and are in and out of homes in their patch on a day to day basis. Hence, they are a valuable resource to have when searching for a price guide and a professional realistic market opinion.
The valuer
The valuers, on the other hand are utilising a number of resources, which range from agent market opinions to online data of recent sales and no doubt the science of  ascertaining building costs-depreciation and land values. It is a very complex and under rewarded process in my opinion, when providing a valuation for a bank post the sale.
The bank
The bank will rely on the final opinion of the valuer and I have a hunch they will also have their internal policies centred round lending criteria to meet with the borrower’s financial position.  I would also speculate at this point that most banks will assess the loan process and the Loan to Value Ratio differently. Therefore, they are indirectly providing particular instructions to the valuer.
Now riddle me this, Bat-bank: which parcel of information will you rely on when the purchaser approaches you for the funding? Here is the conundrum as we further explore this enigma:
<ol>
<li>Agent’s public opinion “price guide” of what the property is worth; $1,000,000 - $1,300,000 first sale and $1,400,000 - $1,500,000 price guide on second sale.</li>
<li>Final sales figure; $1,911,000 for the first and $2,560,000 for the second sale.</li>
<li>
Then there is the undisclosed figure if a true valuation was to be conducted by a valuer, without any outside influences by banks or agencies.    
</li>
</ol>
If we venture back to the beginning and purely relied on the premise that a home is worth “what someone is prepared to pay and what the vendor is prepared to accept”, there would be no issue whatsoever. However, the valuer is caught between a rock and a hard place as they have to justify their findings to the bank. A major criteria expected by the lender to approve a loan by way of accepting a valuation concerns comparable sales of like property in the area. 
Therefore, do they rely on the price achieved in the first property sale, or do they rely on the value of the second? A conundrum to many if this was the only way to ascertain the value of a property. But this is a questionable proposition, as on the surface, it appears to be the major methodology a bank uses to dish out credit. So, Bat-bank, what figure will you accept?
If the bank accepts the latter sales figure, this would mean the first property was sold for peanuts and the person that bought the first home won the lottery.  If the sale price of the first home is the benchmark, one can only assume that the valuation of the second home will come in very short.
Then of course there is the other ideal in Gotham-Sydney. The banks will fund all the purchases to create a history and a sample of at least 4-5 sales to justify their reasoning and paperwork to their shareholders. Always be mindful that in most instances but not all, the first few sales in a cluster when sold as individual lots, are the cheapest sales.
Therefore, based on the current precedence, the next homes to go under the hammer may just tip the $3,000,000 mark. I continue to believe $2,700,000 - $3,000,000 was on the money. As the properties continue to rise in value, this can only continue to create further embarrassment to the price guides given by the agencies that sold the first and second home. Now riddle me this, Bat-bank: <a href="/news/nsw/next-millers-point-government-terrace-sell-off-with-record-2-6-million-plus-price-guidance">how will you value the homes</a>?
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