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


Joel Robinson

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

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

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

Cedar Woods progresses with new apartment plans in Southbank arts precinct

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

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

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

Prestige Market

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EXPERT OBSERVER
Have you ever wondered what it takes to own a property in the top two percent of the market?
Nationally, you’ve made it into the 98th percentile if you own a house worth at least $2.16 million (roughly $1.6 million above the national median house value) or a unit worth $1.43 million (about $930k higher than the national median unit value) or higher.
Although the national entry point to the top 2% club looks extremely high for most of us, the national figure is skewed higher by Sydney and Melbourne where housing values are much higher.
A 98th percentile house would set you back at least $3.21 million in Sydney ($2.3 million above the median) and $2.53 million in Melbourne ($1.8 million above the median), while in more affordable areas such as regional South Australia, the top 2% of the market is a much lower $553,790.
<img src="https://www.urban.com.au/images/2019/10/25/2%20CL%201.JPG" alt="">
Darwin is the only capital city where the 98th percentile for a house is less than $1 million, at $878,100, while across the regional areas of each state, every area apart from Regional NSW and Regional Qld, shows a 98th percentile lower than $1 million.
The top two percent of the market is lower for units, with every capital city except Sydney and Melbourne showing a 98th percentile below $1 million.
Sydney’s 98th percentile unit value was $1.88 million in September ($1.17 million above the median) and Melbourne’s 98th percentile unit value was $1.20 million ($651k above the median).
But what if being a national or city wide two percenter isn’t quite enough? Across New South Wales the municipality with the highest 98th percentile is Woollahra at $8.16 million, followed by Mosman ($7.79 million) and North Sydney ($6.04 million). Outside of Sydney, the Byron Shire has the highest 98th percentile house value at $1.8 million.
<img src="https://www.urban.com.au/images/2019/10/25/2%20CL%202.JPG" alt="">
In Victoria, the Stonnington council has the most exclusive 2% of houses with a 98th percentile of $6.88 million, followed by Melbourne ($3.94 million) then Boroondara ($3.90 million). Across the regional parts of the state, the Surf Coast has the highest 98th percentile value at $1.33 million.
In Queensland, the highest 98th percentile house value can be found at Noosa on the Sunshine Coast, tracking at $1.87 million in September, followed by Brisbane ($1.52 million) and Gold Coast ($1.33 million). Outside of South East Queensland, the highest 98th percentile house value can be found at Douglas (north of Cairns) at $9.43 million.
South Australia’s Burnside council shows the highest 98th percentile at $1.66 million, with Unley ($1.66 million) and Walkerville ($1.55 million) taking up the second and third positions. Across the regional areas of the state the council of Yankalilla tops the 98th percentile at $708k.
Western Australia’s most expensive municipalities all show a 98th percentile for houses above $3 million, led by Peppermint Grove at $3.82 million and followed by Cottesloe ($3.35 million) and Nedlands ($3.11 million). Although housing values have dropped by more than 20% across Perth, these three areas remain in the national top 20 for the highest 98th percentile house value.
Outside of Perth, the highest 98th percentiles are at Busselton as well as Augusta-Margaret River, both at $1.4 million.
Across Tasmania, the only municipality with a 98th percentile house value over $1 million is Hobart, at $1.25 million. Kingborough ($874k) and Clarence ($816k) round out the top 3.
Outside of Hobart, the Huon Valley council area tops the 98th percentile at $667k. Across the Northern Territory, Alice Springs tops the 98th percentile rankings at $961k, followed by Darwin at $953k.
TIM LAWLESS is the CoreLogic Head of Research
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tlawless-5VLUrbAk9s

The cost to own a property in the top 2% of the market: Tim Lawless

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Being a regional area, the Coffs Coast realistically sees the prestige market as starting at the $1 million mark which is predominantly driven by out of town buyers, according to the November report from valuation firm Herron Todd White.
HTW found that the largely discretionary type buyer to whom prestige property greater than $1 million appeals can be greatly impacted by changed economic conditions. Plus this market is also heavily influenced by the performance of the capital city markets as these areas traditionally provide the majority of buyers for prestige housing on the Coffs Coast.
Market conditions have continued to swell for properties over $1 million in recent years as confirmed by the increased sales numbers for both beachside and rural residential properties over $1 million, however the majority of sales occur within the $1 million to $1.5 million price bracket.
However, the higher the value, the thinner the market and historically there have been very limited sales over $2 million.
"Sale volumes for prestige beachside property in the Coffs Harbour region (encompassing the beachside suburbs and townships including Coffs Harbour, Korora, Sapphire Beach, Emerald Beach, Sawtell, Woolgoolga, Safety Beach, Arrawarra Headland, Moonee Beach, Boambee and Mullaway) show a total of 11 sales recorded over $2 million since 2007 and we recently cracked the $3 million mark for 147 Edinburgh Street, Coffs Harbour at $3.25 million (multi level, architectual dwelling with ocean and harbour views located within the sought-after Jetty precinct)," according to HTW Property Valuer Grant Oxenford.
"Notwithstanding this figure, we are now experiencing a spike in the prestige market which has been fuelled by the COVID pandemic."
"The changing face of the way we live and work plus the willingness of city dwellers to relocate to regional areas to escape COVID restrictions has created a definite increase in demand."
"The majority of this prestige activity has been in the rural residential sector with notable sales including 1-9 Tidal Crescent, Moonee Beach for $2.4 million (five dwellings set on 1.22 hectares with extensive estuary views), 123-125 Featherstones Road, Sherwood for $2.4 million (five dwellings on 70 hectares with extensive infrastructure), 606 Valery Road, Valery for $2.1 million (two dwellings on 51 hectares, fully renovated and landscaped) plus the most recent transaction which has broken all records for rural residential property at $3.3 million for 110 North Island Loop Road, Upper Orara (prestige architectural dwelling with second original cottage set on 42 hectares)," he added.
The rural township of Bellingen (35 kilometres south-west of Coffs Harbour) has been a historically strong performer with the 'out-of-town' market and has seen four rural residential sales in excess of $1.5 million within the past four months.
It is interesting to note that the majority of the properties mentioned above have been marketed for in excess of 12 months and in some cases three years which is also an indicator of the traditional thinness of this market and the recent increase in demand as a result of the COVID pandemic.
Mr Oxenford said, "the question one must ask is whether these values are sustainable or is this a bubble created by a false market driven by the pandemic. The answer to that is not simple and without a crystal ball, no one really knows, other than to comment that this is not a normal property cycle."
"As a result of the market primarily being driven by out of town buyers, personal preferences, presentation and motivation of both the purchasers and vendors will impact the ultimate sale price and can result in wider market parameters than those experienced for lower priced properties."
"At this point in time, we can only hang on and enjoy the ride; great if you are a seller, not so good for the buyers," he concluded.
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j.ballantyne1990-6AQqhLzZaK

Coffs Harbour prestige market seeing pandemic spike: HTW

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Buyers in the prestige sector can probably choose to live in any of Australia’s major capitals, but those who select Brisbane are often pleased at the calibre received at that price point, according to the November report from valuation firm Herron Todd White.
HTW found that back toward the end of last year and heading into 2020, there were early signs the market was about to surge, particularly for detached housing in the inner-city. But the pandemic saw property markets slow from March through to July, with transaction numbers grinding to a crawl.
Owners who didn’t need to sell their homes were holding off listing and buyers, who were filled with uncertainty, were also scarce, however, this seems to have turned a corner in recent months.
David Notley, HTW's Brisbane Director said, "Queensland’s successful suppression of the virus coupled with our functioning economy has resulted in more action across the prestige sector from August through to present. And it looks to be sustainable, with our market sources saying current activity is similar in Queensland momentum to that experienced prior to the pandemic’s grip. It also appears that prices are holding… and even increasing in some instances. Many will be surprised by this result."
"Typically, an anxiety-inducing global event like COVID-19 would have severe impacts on the property market, and the prestige sector in particular given the discretionary nature of its buyers and sellers. Instead, Brisbane’s upper-price sector has remained resilient. There’s good demand from local owner-occupiers of course, but interest from interstate appears to be surging too. It seems the chance to relocate to our city, with its excellent lifestyle and relative freedoms (compared to Melbourne, for example) is a magnet for the moneyed up. In fact, once state borders open fully, there’s widespread expectation we’ll see an even stronger market in these upper price points with new Queenslanders looking to come on up and settle both in our capital and on the coasts."
"Digging down a little and a comparison of prestige property performance in 2020 to the 2019 calendar year reveals very similar numbers of sales in that upper price echelon. Our analysis shows that in Brisbane there were 15 detached dwelling sales above $5 million during 2019. In 2020 to date, there have been 10 confirmed sales with another seven under contract."
"It’s worth factoring in that 2019 wasn’t a standout year in the $5-million-plus bracket. This was the result of a number of macro financial changes instigated by Australian regulators which constrained available credit, the impact of the recent Royal Commission into the banking sector and the implementation of its findings, the unsure nature of the federal election in early 2019 and the negative media emerging from the southern states throughout this period."
"The outcome in 2019 was longer selling and marketing periods for properties and, in some instances, a softening in asking prices. But 2020 has proved resilient – even sparkling – and there is an optimism in the air about the coming year. Let’s hope it proves out," Mr Notley concluded.
Here are a few examples of $4 million-plus apartment sales in Brisbane this year.
350/1 Newstead Terrace, Newstead is under contract for $7.35 million. This fifth-level penthouse is in Pier South.
The property is a fourbedroom, four-bathroom, four-car apartment with a total area of 527 square metres. Apart from the usual high-end fitout and spectacular river views, the Pier South development comes with an onsite concierge service… as you do.
Another cracking sale was 3511/30 Hollins Crescent, New Farm which is under contract for $4.81 million. This is a fifth level apartment in the Mitchell building with views taking in the CBD, Story Bridge and the Brisbane River. The apartment is over 350 square metres in area and provides four-bed, threebath, four-car accommodation.
Also on the luxury apartment list is 3/81 Moray Street, New Farm which sold this year for $4.8 million. The property is on level three of the AQUILA development which has a total of ten one-per-floor residences. It has a prime location, luxe fitout and sweeping CBD views available.
The apartment provides for four-bed, three-bath, three-car accommodation all across 418 square metres of living area.
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Brisbane prestige market surge has arrived as forecast: HTW

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Geelong’s property market is diverse and consists of a variety of property types appealing to all sorts of buyers, according to the November report from valuation firm Herron Todd White.
HTW found that residential property in Geelong has continued to exceed expectations as it becomes an increasingly desirable place to live. This has become evident with suburbs across the region breaking sales records throughout the year.
Lorne has recorded a new residential sales record with 1 Roadknight Street selling for $7.25 million earlier this year. Three bidders competed for the property in a private auction. Set on a north-facing 1,800 square metre block, the architectural home designed by Spaces Design Group and built by GD Constructions offers a private, resort-like compound with five-bedrooms and five-living spaces.
Lorne has proven to be one of the most sought-after locations, recording its second highest ever residential sale when 77-79 Smith Street sold for $5.75 million in March. The suburb has seen six properties exceed the $2 million mark across the year.
Opportunities to buy in Lorne are present in a number of off the plan residential developments including...
There are xxx developments available or soon to be across Lorne.
One property in Jan Juc recently hit the open market, 7 Seahaven Place. It is architect-designed and offers panoramic ocean views.
Tipped to sell for roughly $4 million, it features a U-shaped design.
Closer to the city centre, the highest current listing is 27 The Esplanade. Known as Carmyle, the property sits on Geelong’s front row, with uninterrupted waterfront views, situated on a 1,500 square metre block.
Built in 1929, the art deco influence is prevalent with period details throughout and is currently listed at $4.5 million.
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Geelong prestige property continues to break records: HTW

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The lower north shore prestige market experienced a fluctuating year in 2019, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.
 The report notes the market started very slowly with the number of transactions significantly down, although the second half of the year saw a notable improvement in market activity. 
"We expect there to be continued high buyer confidence in 2020 within this sector of the market, barring any unforeseen financial or international turmoil. 
"We believe that transaction numbers and sale prices throughout the year will remain strong, although not at the levels seen during the peak of the market cycle," the valuation firm said. 
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The report notes Mosman could well see its suburb record sale price broken this year.
 It was previously set in 2018 with a $25 million sale on Hopetoun Avenue. 
The property as <a href="https://www.realestate.com.au/property-house-nsw-mosman-131588450" target="_blank">2 Rosherville Road, Mosman</a> (pictured below), set on 1473 square metres of waterfront land, is currently on the market with a reported asking price of around $30 million (news.com.au).
<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/2020/2/10/mosman%202.jpg" alt="">
 
"This property has been on the market since the middle of 2019 so we will wait to see if market conditions this year support the property transacting at this price level."
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"The inner Sydney prestige market will continue to be buoyed throughout 2020 by the current projects being constructed in the Circular Quay precinct and further development of Barangaroo," the valuation firm said. 
In late 2019 it was reported that a penthouse, two apartment amalgamation, had sold to an individual purchaser for $140 million. 
Benchmark sales such as this add to confidence in this sector of the market as the media broadcast such notable sales nationally and even internationally. This promotion attracts the attention of potential buyers in this top end prestige sector and the limited supply of such units can help spur continued strong sales. 
"We expect this to be the driver of high-end sales in the new development areas in inner Sydney throughout 2020," the valuation firm said. 
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"The eastern suburbs prestige market roared into gear in the second half of 2019 after a subdued first half of the year," the valuation firm continued. 
Over 20 trophy homes, with asking prices above $15 million, are currently listed for sale across the prestige suburbs of Point Piper, Vaucluse, Bellevue Hill, Darling Point and Elizabeth Bay.
 On top of this, there is an increasing number of prestige property owners who utilise the expertise and contacts of well-regarded local agents working within this space to sell their properties off market. 
"We are expecting the strong finish to last year to continue in 2020," the valuation firm stated. 
"In the south, the record of $10.86 million for the Sutherland and St George region, set by a property in Kangaroo Point in 2018, is under threat," the valuation firm said. 
A large three-storey waterfront home on over 3000 square metres of land at <a href="https://www.realestate.com.au/property-house-nsw-blakehurst-132201354" target="_blank">4 Townson Street, Blakehurst </a>(pictured below) boasts six bedrooms, eight bathrooms, a tennis court, indoor and outdoor pools, slipway, jetty and garaging for up to 15 cars.
<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/2020/2/10/blakehurst.jpg" alt="">
 The property was listed in October through Black Diamondz Property.
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Sydney prestige market to see high buyer confidence in 2020: HTW residential 

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Tasmania continues to lead the country in many property indicators, according to a recent Herron Todd White (HTW) residential report. 
The report notes that in comparison to some of the larger mainland markets, the premium price segment to some extent remains ‘affordable’.
The highest ever residential sale was in 2011 for in excess of $8 million.
To date the highest sale of 2019 has been for $3.7 million being a riverfront holding positioned between Wrest Point and the Royal Hobart Yacht Club at <a href="https://www.realestate.com.au/sold/property-house-tas-sandy+bay-130594658" target="_blank">358 Sandy Bay Road, Hobart</a>.
It comprises a dual level holding with five-bedrooms, three-bathrooms and a double carport. 
"As would be expected its fully secured with an electronic gate and features its own jetty," the valuation firm 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/2019/12/4/sandy%20bay.jpg" alt="">
The talk of the town however is the construction of a family residence at Tinderbox, just south of Blackmans Bay.
CoreLogic have reported a construction cost of $17 million on realestate.com. Records show the land was purchased for just over $3 million.
"Comprising a riverfront holding over dual levels with a floor area in excess of 1200 square metres of living. Anyone for a small hotel?" the valuation firm said. 
The HTW report notes up north in Launceston a sale was settled at the start of the year for $3.25 million.
This was located at <a href="https://www.realestate.com.au/sold/property-house-tas-launceston-129370374" target="_blank">1 Brisbane Street </a>(pictured below) virtually within the CBD and known as Glenfruin.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/4/launceston.jpg" alt="">
Promoted as a historic Italianate style home it is positioned overlooking City Park on a 1482 square metre lot.
The house is built over three levels, and is a fully renovated 1880s home with four-to-five bedrooms.
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Tasmania's premium price segment remains 'affordable' compared to larger mainland markets: HTW residential 

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The latest Herron Todd White (HTW) residential report says there's been an upswing in buyer activity. 
There were 13,830 total listings as at mid-October 2019 - 15% lower than the same week in 2018 - with the majority of the activity is in the sub-$1 million range.
It noted while the market has been subdued overall, there have been some spectacular properties sold throughout the year across the state.
"To get some perspective on the magnitude of the properties we are about to discuss, the median house price in Perth is currently $485,000," the report said. 
Some extraordinary properties have traded in 2019 in Perth, HTW noted.
This 1,428 square metre riverfront estate at <a href="https://www.realestate.com.au/sold/property-house-wa-mosman+park-129708566https://www.realestate.com.au/sold/property-house-wa-mosman+park-129708566" target="_blank">1 Chidley Way </a>in Mosman Park (pictured below) is named Anuket, the original Egyptian goddess of the River Nile.
It went under contract in April 2019 for $12.05 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/1%20childley%20way.jpg" alt="">
In comparison, the median house price in Mosman Park settled at $1,277,000 for the June quarter 2019.
The property was on the market for 183 days, taking expressions of interest at around $16 million and was previously owned by the owner of a Perth-based commercial and residential development group with completed projects valued in excess of $1.5 billion.
Originally built in 1987, this limestone wonder has since had a number of restorations and alterations both internally and externally.
It features five bedrooms, six bathrooms, four living areas, a four car garage with extra parking spaces, grand entry lobby and an infinity lap pool overlooking the Swan River.
"Applecross is known as an affluent riverside suburb situated six kilometres from the CBD on the Swan River," the valuation firm said.
"The median house price in Applecross settled at $1.525 million for the June quarter 2019, the eighth highest suburb median in greater Perth."
This property at 22 Duncraig Road (pictured below) sold for $10.5 million in November 2018 after 151 days on the market.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/22%20duncraig%20rd.jpg" alt="">
On a 1,839 square metre allotment, this gated estate is situated at the highest point of Duncraig Road, providing expansive views of the Swan River and Perth CBD.
Originally built in 1988 its features include a double staircase entry, formal quarter with large void up to the coffered ceilings, dining and wine room, four bedrooms, each with an en suite, a detached one-bedroom maid’s quarters, gourmet kitchen, large terrace, pool and spa, basement level four car garage and private media room
The property was previously purchased in 2001 for $6.5 million by a Perth couple who won $30 million in what was then the country’s biggest lotto jackpot.
The new purchasers are not new to the area as they also own a property at The Strand, Applecross which was bought in May 2017 for $6.9 million.
They also sold another property in November 2018 at Flanagan Road, Applecross for $3 million.
"Another notable sale this year was this Margaret Street property in Cottesloe," the valuation firm added. 
Built in 2011 on a 652 square metre allotment, it comprises five bedrooms, five bathrooms and a double garage.
It was purchased in June 2019 for $8.5 million by a West Australian billionaire.
"The new owner also owns multiple properties in Mosman Park, Peppermint Grove and Swanbourne with an estimated total spend of just under $30 million – not a bad portfolio!" the valuation firm said. 
The median house price in Cottesloe settled at $2.225 million for the June quarter 2019, the third highest suburb median in Western Australia.
This property at 167 Waratah Place, Dalkeith sold for $7.25 million in December 2018.
Originally built in 1985, this three-level Tuscan inspired residence has been substantially renovated since and comprises five bedrooms, four bathrooms, an infinity pool, wine cellar, and panoramic views of Freshwater Bay.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/167%20waratah%20pl.jpg" alt="">
Dalkeith’s median house price settled at $2,265,000 for the June quarter 2019, coming in as the second highest suburb median in Western Australia.
"The Elizabeth Quay Towers has been one of Perth’s most talked about development projects over the past few years," the valuation firm said. 
Situated along Geoffrey Bolton Avenue and Barrack Square at Elizabeth Quay, the first completed tower encompasses 105 apartments over 28 floors with views of Perth City, Kings Park, Langley Park and the Swan River.
Prices range from about $650,000 all the way up to $12.5 million for the penthouse suite.
Some of the amenities include multiple pools, private lounges and a gym.
The neighbouring tower also includes the Ritz-Carlton Hotel with over 200 rooms due for completion in November 2019.
The complex features operable walls whereby a panel in the external wall is able to be opened as a tilt panel window – a unique feature for apartments in Perth.
The most recent sale in the Towers was actually one of its better apartments on offer.
On floor 26, the 289 square metre suite is currently under contract for $4,046,000 and has expansive views reaching around 240 degrees.
"One notable sale our valuers recall was back in May 2017 and it remains a topic of discussion!" the valuation firm said. 
A 1920s renovated character dwelling in Wembley sold for $2.5 million comprising four bedrooms, three bathrooms, a three-car garage, self- contained studio and the most interesting feature – an underground half-size basketball court! Not something that our valuers come across every day.
"If you happen to be in the market for a multi- million-dollar property, then do not fret, there is still a plethora of prestige stock ready for a willing buyer."
A Dalkeith vacant allotment of 1,600 square metres is on offer by Mack Hall Real Estate for a cool $9 million or $5,625 per square metre and backs directly onto the Swan River.
A Cottesloe home was originally built in 1893 and has recently been extensively restored by the renowned Zorzi Homes.
According to the realestate.com.au listing, this three-storey Federation Queen Anne style property comprises five bedrooms, five bathrooms, lift access, custom-made cornices, architraves, mouldings and skirtings, a restored original fireplace, full home automation and security system, manicured front garden, bar room, games room, alfresco entertaining area, ten car below ground garage and a wine cellar.
<img src="blob:https://www.urban.com.au/965d4fb2-1e51-459b-aeb2-874faee0780b" alt="page38image5816672" width="0.500000" height="0.500000">On offer by The Agency, this property is currently taking offers of interest and has been on the market for 237 days.
It was last purchased in 2009 (before its restoration) for $4.25 million.
Brown Street, East Perth is a mammoth penthouse apartment.
The listing currently displays price upon application, however there was a previous price guide listing back in September 2018 for a whopping $20 million.
It had been on the market for 544 days when this article was being written.
Built in 2014, the two-storey penthouse comprises eight bedrooms, eight bathrooms, three kitchens, maid’s quarters, lap pool, Bali inspired alfresco, steam room, outdoor spa bath, gym, home office with a fireplace, wine cellar, private lift access, secure eight car accommodation and cinema room. The terrace has views of the city, Claisebrook Cove, Optus Stadium and Crown Casino.
With a living area of 898 square metres, balcony and terrace of 774 square metres, storeroom of five square metres and car accommodation equalling 220 square metres, the floor area comes to a total of 1,897 square metres!
"We thought we would save one of our favourite listings for last. This waterfront property is situated at the end of Watkins Road in Dalkeith and has quite an interesting history, but before we get into the history let’s go over the luxurious features," the valuation firm said. 
Spanning over six separate titles and situated on a 6,406 square metre allotment, this dwelling at <a href="https://www.realestate.com.au/property-house-wa-dalkeith-132131590" target="_blank">89 Watkins Road</a> (pictured below) has 2,930 square metres of internal living space over four levels.
Features include six bedrooms, eight bathrooms, a 21-seat cinema, function room for 400 plus guests, two caterers’ kitchens, walk-in cool room, separate pizza, teppanyaki and bbq house, commercial bar and games room, full sized gym with pummel massage shower room and sauna, full size squash court, floodlit tennis court, 230 square metre swimming pool with a 12-seat swim-up bar, 10,000 bottle cellar and tasting room, designer gardens, boat storage and private boat launch with private boat mooring available and underground parking for 12 cars.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/89%20watkins%20road.jpg" alt="">
The property has been on the market for 541 days.
"As you would imagine, the pool of potential buyers is somewhat limited," the valuation firm added. 
According to an article by Domain.com.au, the property was designed by Perth architect Geoffrey Summerhayes in 1978 and originally built for the late Alan Bond in time for the 1983 America’s Cup. 
CoreLogic’s property data suite, RP Data, shows that a gold mining magnate purchased the property in 1995 from the Bond family trust company for $7.3 million. He then sold it four years later after extensive renovations. The property was then sold in 2011 with a price tag of $39 million and is again available for purchase.
"To wrap up, there have been some impressive transactions over the past couple of years and as the recovery phase gathers pace, we would expect to see many more such transactions," HTW said. 
"There is a feeling of pent up demand in the market place as the majority of potential buyers have been sitting on their hands for the past few years.
"Our valuers are reporting surges of activity in sought after localities at most value bands, however these surges are often short lived and fail to maintain traction.
"Further improvement in consumer sentiment could lead to the traction the market has been expecting for some time." 
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Upswing in Perth prestige market activity: HTW residential 

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The wandering eye for grandeur and a prestige address in the greater Darwin area leads in one of two directions – water views or acreage, according to a recent Herron Todd White (HTW) residential report. 
The report suggests long held premium locations of Larrakeyah, Cullen Bay, Fannie Bay and Bayview remain the sought-after water locations with ocean or marina views.
Coming into more prominence are tightly held pockets of Nightcliff that offer Casuarina foreshore views and sections of Stuart Park that overlook Frances Bay and the CBD.
"Knuckey Lagoon still presents as the premium rural residential location of the Darwin market," the valuation firm said. 
"Nearby access to all urban infrastructures balanced with space and country feel are the drivers in this location."
There have been 19 residential sales at arm’s length above $1 million in the 2019 calendar year (to mid-October) for the Darwin, Palmerston and rural residential areas, including a mix of dwelling and strata sales, so a fraction under two per month.
The report notes the market for prestige dwellings in Darwin’s inner suburbs has softened over recent times.
This market has been less volatile than mortgage belt locations and continues to be underpinned by proximity to the CBD and standard of dwelling.
Large allotments and tropical style dwellings have remained popular for purchasers. Without question the ability for owners to hold property in poorer market times has helped these market sections.
"We must highlight that this segment of the market has not been quarantined from the reductions in the wider market; re-sales of the same dwelling have shown reductions in the order of 10 to 15%," the valuation firm said. 
The Darwin prestige market beyond $2 million has been very thinly traded in recent years.
The most activity in the market has been for new builds, where older dwellings have been purchased and demolished.
Notable locations for these projects have included East Point Road in Fannie Bay, Larrakeyah Terrace in Larrakeyah and to the marina in Cullen Bay.
Many of these projects have exceeded land and build of $5 million.
"These projects, while not sale transactions, provide open market evidence to the activity in this market segment and we specifically note this is not uncommon within the local market place which is dominated by owner-occupiers in a very tightly held market segment," the valuation firm said. 
The highest residential sale in the rural residential market this year was achieved in Knuckey Lagoon, an acreage allotment with a number of dwellings and sheds that exceeded $4 million.
The highest strata sale in the Darwin area was for one of the colonial style, stone townhouses at <a href="https://www.realestate.com.au/sold/property-villa-nt-darwin+city-130487262" target="_blank">1/78 Esplanade </a>(pictured below) in the CBD.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/78%20esplanade.jpg" alt="">
The sale was negotiated by Seth Chin of Chin &amp; Associates at $2.3 million in April following an open marketing campaign.
Chin said: "The market in Cullen Bay has been active with enquiry levels remaining consistent from local owner-occupiers. With a number of our key listings ranging from $2 million to $3 million we have seen a significant amount of inspections, however given the price point and current broader market conditions these properties require extended marketing periods."
The HTW report also looked at other eye-catching properties on the market. 
"For those looking at inner city living, there are penthouse units available at Evolution, arguably one of Darwin’s best CBD addresses, with extensive common areas and views that capture the whole CBD. Asking prices are $3.5 million with David Booth Real Estate," the valuation firm said. 
Other attractive listings are located on the Marina and Sea Wall at Cullen Bay, including<a href="https://www.realestate.com.au/property-house-nt-cullen+bay-131914310" target="_blank"> 104 Cullen Bay Crescent</a> (pictured below) with Pacific Property seeking offers over $2.95 million, offering uninterrupted sea views and a large, five-bedroom, three-bathroom dwelling.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/12/2/104%20cullen%20bay.jpg" alt="">
"It’s certainly not all doom and gloom in the Darwin market. High quality property is still changing hands and premium builders and architects have projects on the drawing board as we see the shape of the prestige market move to modern homes mixed with the essential tropical touch of our neighbourhood," the valuation firm concluded. 
"Without doubt, there will be more to talk about in 2020 as the Darwin market continues to recover and transition to the next stage of the cycle."
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Water views or acreage - the two directions of Darwin's prestige market: HTW residential 

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Townsville’s top end eye candy property is a relatively shallow market with the majority of prestige stock falling within the $1 million to $2.5 million price range, according to the latest Herron Todd White (HTW) residential report. 
The report notes these swoon-inducing properties typically offer elevated aspects and ocean views with well above average levels of accommodation and fit out.
Improvements include features such as pools, architectural design and good outdoor living areas, along with extensive main living areas.
"To date in 2019 the highest settled residential sale recorded was for a property located on Castle Hill, which transacted for just over $1.5 million," the valuation firm said. 
The architecturally designed property at<a href="https://www.realestate.com.au/sold/property-house-qld-castle+hill-130817450" target="_blank"> 37 Yarrawonga Drive</a> (pictured below) offers sweeping views over Cleveland Bay and comprises five bedrooms, three bathrooms and an inground pool.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/27/castle%20hill%202.jpg" alt="">
There are currently a number of properties listed on the market with asking prices over $1.5 million within the North Ward and Castle Hill areas along with some located on Magnetic Island, the report noted. 
"An exceptionally large architecturally designed house in Annandale comprising six bedrooms and five bathrooms with views over the Ross River is currently on the market with an asking price of $2.4 million negotiable," the valuation firm said. 
The property at <a href="https://www.realestate.com.au/property-house-qld-annandale-131869598" target="_blank">3 Fairlight Crescent</a> (pictured below) is built over three levels with a reported total floor area of over 900 square metre including four-car accommodation, pool, theatre, lift, C-bus electrical system and self- contained living to the lower level.
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Townsville sees shallow top end property market: HTW residential 

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The residential market in the Gladstone region has stabilised over recent years after a very volatile patch, according to the latest Herron Todd White (HTW) residential report. 
The HTW report notes since the beginning of the year there has been limited sales activity of homes on standard residential lots over the $600,000 price point and unit sale prices top out at just over $200,000.
The city of Gladstone is the largest multi- commodity shipping port in Queensland so as a consequence most eye-candy property in the region takes advantage of water views.
"Tannum Sands and Boyne Island are two localities situated on the coast to the south of central Gladstone and seem to have the majority of 2019 residential home sales at the upper end of the market.
"One property worthy of note in this location is<a href="https://www.realestate.com.au/sold/property-house-qld-tannum+sands-128720926" target="_blank"> 5 Di Street, Tannum Sands </a>(pictured below) which has frontage to the Boyne River and sold in July 2019 for $750,000," the valuation firm said. 
The property offers uninterrupted river views from a two storey, four-bedroom, three- bathroom modern home with an inground pool.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/25/5%20di%20st%202.jpg" alt="">
"When considering eye-candy residential property in Gladstone, it is difficult to go past 2 Parksville Drive, New Auckland," the valuation firm said. 
This modern resort style home won the CQ Master Builders Housing and Construction Awards 2013 for best individual home and swimming pool, outdoor living and landscaping prizes.
Owned by a local builder, the property sold for $1.04 million in May 2019.
Located on a 2,806 square metre block, the architecturally designed home offers four bedrooms, three bathrooms, state of the art kitchen, butler’s pantry, sound proof media room, relaxing urban views over the L-shaped pool and a 165 square metre shed with kitchen, bathroom and mezzanine floor.
The report notes 2019 prestigious unit sales only include a luxurious penthouse apartment in the Aspex complex which sold in April 2019 for $810,000. This is a significant reduction from the previous sale in 2011 at $1.4 million.
The modern apartment offers 302 square metres with four bedrooms, three bathrooms and a sky terrace with views of Auckland Creek Inlet and the Gladstone Marina.
The top end price listing has to be 6 Cormorant Close, South Gladstone (pictured below) with a list price of offers over $1.4 million.
The property has been on the market since May 2019 and is significantly discounted from its previous sale price in 2015 of $1.84 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/25/6%20cormorant%20close.jpg" alt="">
Having a land area of 1,151 square metres, this architecturally designed home offers six bedrooms and three bathrooms over six different levels and three outside entertaining areas.
An L-shaped pool including 12.5 metre lap pool and waterfall blade is also a feature.
Boasting ocean and bush views the home also offers a custom designed art room with 100-year-old recycled timber flooring, gymnasium, wine cellar and mud room.
Internal size is advertised as 672 square metres.
"You had me at wine cellar!" the valuation firm commented. 
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