Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

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Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

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Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

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Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

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North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

Property News

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The chairman of the Chris O'Brien Lifehouse cancer centre, company director Doug Snedden and his wife Belinda Clark have sold in Warrawee, seemingly securing their desire of more than $5 million.
The 1930s home designed in the stockbroker tudor style by architect John Brogan had been bought by the couple in 1999 for $2,325,000 from the ASX chairman Roderick Holliday-Smith and his wife Margaret.
Scott Chadwick, of Chadwicks Real Estate, sold the <a href="https://chadwickrealestate.com.au/5259657/5-Pibrac-Avenue-Warrawee" target="_blank">1800 sqm Pibrac Avenue property</a> that comes with tennis court and pool.
Professor Chris O'Brien was a surgeon who achieved national recognition as a compassionate surgeon in the reality television series RPA.
His vision and leadership built the foundation for the O'Brien Lifehouse institute specialising in the treatment of cancer.
O'Brien, diagnosed with a brain tumour in 2006, fought the illness until he passed away in 2009.
His wife Gail continues to play a key role in supporting her husband's vision for Australia to have its own world-class comprehensive cancer care facility.
Gail recently sold the family home in Hunters Hill through Narelle Scott at Bresic Whitney who offered the listing with $4.5 million price guidance. 
Paying $3.1 million in 2002, the couple had traded up to the north-facing 1177 square metre property overlooking the Lane Cove River from nearby Ernest Street.
 
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jchancellor-FAypfDUnLy

Stockbroker Tudor Warrawee trophy sale

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Houses that sold for a loss nationwide during the second quarter of 2015 had typically been owned for 5.7 years and units for 6.3 years, according to CoreLogic RP Data's Pain &amp; Gain report for the June quarter.
According to the report, houses that sold at a profit had been owned for 10.3 years and units 9 years.
The report noted capital city houses which resold at a loss had an average hold period of 5.2 years compared to 5.4 years for units.
"Of those capital city homes which sold at a profit, the average hold periods were 10.3 years for a house and 8.9 years for a unit. The average hold periods for homes selling at a profit tended to be longer in Melbourne and shorter in Darwin," the report said.
"Looking at regional areas, the typical hold period for loss-making resales was 6.0 years for houses and 7.2 years for units and for profit-making resales it was 9.6 years for houses and 10.4 years for units.
"It is a little surprising to note that profit-making resale houses in regional areas of the country actually had a shorter average hold period (9.6 years) than those within the capital cities (10.3 years)."
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mick.cee-iDmgDDAmu8

Profit-reaping houses owned for a decade: CoreLogic RP Data

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GUEST OBSERVER
For 25 years, Woolworths told shoppers they were “the fresh food people”. It was a very clear point of difference and delivered the group a sustainable competitive advantage. Any attempt by a competitor to replicate it would have been dismissed as lacking credence; a simple market-follower strategy.
In contrast, Coles appeared lost and without direction, the result of an ever-changing senior leadership team, until Ian McLeod arrived in 2008. Prior to 2000, Coles was “serving us better”, then in 2002 shoppers were “saving everyday”. In 2004, Coles was “delighting their customer” and then things were getting a “little better … every day”. Finally, the more recent “down, down” campaign has aligned with its “quality food costs less at Coles” slogan, cutting through with shoppers.
Somewhere along the way Woolworths was blindsided. The group fell out of favour with suppliers and was distracted by its troubled Masters hardware chain. The turnaround plan suffered a further blow with the news chief executive Grant O'Brien would step down after less than four years in the job.
<h2>Lack of differentiation</h2>
At the same time Coles was closing underperforming stores, <a href="">cutting its range</a> to streamline supply chains, cutting overhead costs and investing heavily in store refurbishments.
The fastest, although not the smartest, way to compete with an aggressive competitor is to replicate; that’s exactly what Woolworths and more recently IGA did. A quick look at Coles', Woolworths' and IGA’s catalogues and stores today illustrates the same deep discounting strategy.
It was clearly an error of judgement for Woolworths to move away from its very successful “fresh food people” position. The “cheap, cheap” campaign confused loyal shoppers and played into the hands of Coles, which was better positioned to deliver on price. With both majors driving a message of “price”, more shoppers also started trailing the German discounter Aldi.
<h2>The lowest price doesn’t necessarily win</h2>
If you are not a discounter, move away from price. While most supermarkets will carry a range of low-priced, generic private-label products to service the discount-shopper segment, sending the message that you sell groceries “cheap, cheap” and “down, down” every day is risky.
Even Metcash-owned IGA has moved away from its “local” campaign to now promote itself as “the same” as the big two with a recently launched “price match” campaign. Price is easily comparable and replicated, and this has been played out across Australian supermarkets over the last few years.
Internationally, grocery discounters like Lidl and Aldi continue to take market share away from the major full-line supermarkets, while the supermarkets continue to discount heavily. The practice of deep, unsustainable and potentially unprofitable deep discounting has even begun to attract criticism for grocers.
However, while Australian supermarkets and independent grocers continue to focus on price, shoppers will continue to shop between all brands for the lowest; loyalty is lost. This is most evident with Aldi, which in Australia has the lowest customer loyalty at 7%, compared to the majors at 25% and IGA at 30%. Supermarket retailing in Australia has become a race to the bottom.
<h2>Fresh – the future fight</h2>
Discounters will always win on price. The smart approach to combating this threat is not to position yourself as the same, but different. A focus on what the discounters don’t offer – such as range, value, service and fresh foods – is a much smarter approach.
The price of a litre of milk or a loaf of bread is easily comparable, whereas “fresh” is not. The fresh food component of a supermarket also delivers more profit than dry groceries. Fresh is where the next battle will be fought and won.
Now that Coles has established its position as the provider of low-priced groceries, its next move will be to focus on the “fresh food” space now vacated by Woolworths, which still appears to be cutting prices.
<h2>The future of convenience</h2>
When shoppers have been conditioned to think about the price they pay each week for a basket of groceries, the franchised grocer model no longer works. Already, experts have suggested that within 10 years Metcash’s independent grocers will no longer feature in the Australian grocery market.
Yet overseas the convenience store model is growing faster than full-line supermarkets. While some of this growth comes from the ability to embed small store footprints into high streets and high-density areas, much of it is the result of major supermarkets moving into this space with their brands: Tesco Metro, Tesco Express, Sainsbury’s Local and Carrefour Metro.
With Roy Morgan’s latest shopper loyalty research illustrating IGA has the most committed shoppers, even with perceived higher prices, IGA would be best to walk away from a price war. If IGA is unable to defend against the growth of Aldi and a re-energised Coles and Woolworths, it is highly probable it will either exit the market or reposition itself upmarket as a premium grocer.
Either way, it is likely that both Woolworths and Coles will look favourably at moving into this space with a chain of Woolworths Metro or Coles Express convenience stores.
Gary Mortimer is senior lecturer, QUT Business School, Queensland University of Technology and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/gary-mortimer-1322" target="_blank">here</a>.
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Australian supermarkets in race to the bottom

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Funds manager Will Liley and his UK born artist wife Janice have sold their Paddington terrace.
Liley, who rowed for Australia in the late 1960s and 1970s, before he founded infrastructure investment firm mInfra, secured around $3.5 million through Ben Collier at McGrath Estate Agents.
Janice studied at the National Art School, Sydney, and before than at Cheltenham College of the Arts in the UK.
Their longtime four bedroom Windsor Street abode was bought back in 1999 at $870,000. 
They retain their Southern Highlands retreat Rosehill Farm, a 45-hectare holding with Richard Rowe designed six-bedroom, seven-bathroom house.
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Funds manager Will Liley sells Paddo terrace

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Louis Christopher, the managing director of SQM Research, reckons the Gold Coast has entered "a robust housing recovery." 
"There is no question right now that landlords are in charge of the Gold Coast market as vacancies have plummeted and rents have accelerated," Louis Christopher told Fairfax Media. 
His data shows low vacancy rates of under 2%.
There have been rent rises of up to 8% a year.
Mr Christopher said the Gold Coast had not yet seen its traditional building surge.
He also noted the market crash of 2009-13 had only modestly recovered until now, with prices still below fair value. 
"Back in 2010 the Gold Coast housing market suffered a perfect storm of events that created a major dwelling price crash.
"A lot of those events have now dissipated and right now, there are many favourable economic factors which are helping to improve the region. So we believe Gold Coast property investors are likely to enjoy good returns, both in rents and capital growth for up to the next three years."
SQM expects a rise of 7% to 11% in dwelling prices for 2016.
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Gold Coast property still below fair value: SQM

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A Vaucluse apartment sold in The Block, the Channel Nine reality television series in 2010, sold again last week.
Five years ago it fetched $970,000 after Cheryl and Brenton's renovation.
This week the 100 sqm apartment sold ahead of its scheduled auction at $1.42 million through Mark Meyer at LJ Levi, with its price reflecting a very healthy 8.25 annual growth.
Recent research suggests these Vaucluse vendors have done better than many other buyers of properties from The Block offerings over the past 12 years.
PRD Nationwide research manager Diaswati Mardiasmo looked at 10 resales since the initial series of The Block aired in 2003.
Dr Mardiasmo noted these properties were bought at auction for an average $57,750 or 7% per more than the median price in their suburbs.
But their resale only averaged $26,500 more than the median price.
Dr Mardiasmo said the rate of growth of The Block properties had failed to live up to initial promise.
“They made dollar value money because the price did go up - but in terms of the implicit value, they lost,” she said.
Dr Mardiasmo said her ­research indicated The Block was a “losing proposition” for buyers despite the properties being in premium suburbs, like Bondi Beach and Manly.
“For a show that has quite a following, it is quite surprising to see that a property once sold at The Block hasn’t either matched or even gained more value than the suburb median price growth,” she said.
“It seems once the media hype wore off, buyers became more cautious.”
Infact such has been the silly exuberance on display at most of the Block auctions, that some investors have sold at serious losses. 
The first loss was in 2005 with the resale of a two-bedroom Roscoe Street, Bondi Beach unit, decorated by Amity Dry and Phil Rankine, that had sold at $655,000 in the first 2003 series.
It fetched $550,000, yes a loss of $100,000 within two years.
Then another Bondi apartment resold with a small gain, initially under the gaze of the television cameras in 2003 at $747,000, then quietly offloaded at $765,000 in 2009.
Back in 2010 the rollercoaster nature of Sydney’s property market was evident when one of the Vaucluse four units failed to sell under the auction hammer.
It was Brenton and Chez's <a href="https://www.realestate.com.au/property-apartment-nsw-vaucluse-120531045" target="_blank">4/107 New South Head Road</a> property that failed to meet its $880,000 reserve, passed in at $865,000. 
Those potential 2010 buyers were initially advised the apartment would fetch more than $900,000. But the estimate was adjusted down to about $900,000 when the 2010 spring property market conditions tightened and auction clearance rates fell.
Something like the current 2015 spring conditions.
Ofcourse Channel 9 never intended The Block to be a program focusing on the state of real estate market. 
Indeed Channel 9's auction selling price is not really a major priority.
They are about providing entertainment and drama - and securing their huge advertising revenue.
This is not to say over the years The Block hasn't served to highlight it’s not that easy to get rich quick from renovation and flipping.
Soon whole floor apartments in their latest series, in the South Yarra Blocktagonal complex, will be auctioned off.
These auction listings will attract thousands to the open for inspections. And possibly bidding silliness.
There is drama at every auction, every Saturday.
Don’t distress if you miss out this weekend because someone paid more. They might have to live with the consequences.
But use the knowledge gathered to help assess other property on the market, and feel assured you’ll be better prepared next time.
Remember building wealth from property only safely works when incorporated into a long-term plan.
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The Block Vaucluse apartment sale

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GUEST OBSERVER
Income inequality is undoubtedly one of the most controversial economic issues of modern societies, with many countries facing incredible differences between those who make more and those who make less. But what is happening across Australian regions?
Although researchers such as Peter Whiteford and Nicholas Biddle have investigated the issue in Australia, there are no official records on income inequality measured consistently across regions of the country – even at national level income inequality measures are rarely available in international comparisons (see for instance, World Bank and OECD data.
This lack of evidence is a clear reflection that income inequality is less conflicted in Australia compared to other countries, as Australia is characterised as having very low rates of poverty and economic segregation, compared to other societies, and a culture of “a fair go”.
However, regardless of the apparent “economic equality” in our society, income inequality is still an important issue to track and analyse. In order to fill the gap on income inequality measures across the country, we have developed a method to approximate Gini coefficients for different Australian regions, including states and local councils.
What we found
At state level, based on our estimates in 2011, the most unequal jurisdiction was NSW (0.42), followed by the Northern Territory (0.40), while the least unequal was Tasmania (0.38), meaning that the gap between the rich and the poor was bigger in NSW than in Tasmania.
However, income distribution varies over time, with the ACT showing the biggest change in income inequality, where the Gini coefficient increased from 0.35 in 2001 to 0.39 in 2011.
<a href="/images/2015/09/28/image-20150925-17697-1y399g4.png" target="_blank">Click to enlarge</a>
 <img src="/images/2015/09/28/image-20150925-17697-1y399g4.png" alt="">
At sub-state level, within metropolitan areas, we found that the local councils of Burwood, Strathfield, Kogarah and Sydney (all from the Sydney Metropolitan area) had the highest income inequality in the country in 2011, while the local councils of Melton (in Melbourne), Light (in Brisbane), Mallala (in Perth) and Palmerstone (in Darwin) had the lowest income inequality.
In terms of trends in cities, interestingly Perth captured both extremes: while the suburbs of Cottesloe and Subiaco is where income inequality has increased the most, the local council of Perth had the lowest increase in inequality across Australian cities.
<h2>Using the Gini co-efficient</h2>
The Gini is one of the most used indicators for income inequality across the world for its simplicity: a Gini of 0 means that the total income of the region is distributed evenly across all persons of the region, while a Gini of 1 means all income captured by just one person. According to the OECD, in 2012 Australia had a Gini of 0.326, while the US had a Gini of 0.390.
Thus, in order to provide more insights about the effects of the mining boom of the recent decade across Australian regions, we have constructed Gini coefficients for family income reported in the national censuses of 2001 and 2011, across all regions of the country.
Although our measures are not perfect and are subject to some assumptions, including the assumption that 30% of families in the richest income bracket capture 70% of the income in that segment, they do provide a good sign of how income inequality varies across the country and how it has been changing over time.
All Gini coefficients across regions are available here.
<h2>Policy implications</h2>
These income inequality data raise several questions. Are the reasons for income inequality different around the country? Does income inequality affect other factors such as health, as evidenced in the US?
What levels of income inequality are acceptable across Australian regions? And what actions are required to address this? These are the questions policy makers should now tackle.
 
David A. Fleming is researcher, CSIRO and can be contacted <a href="https://theconversation.com/profiles/david-a-fleming-110682" target="_blank">here</a>.
Tom Measham is senior research scientist, CSIRO and can be contacted <a href="https://theconversation.com/rich-and-poor-which-areas-of-australia-are-most-unequal-42409?utm_medium=email&amp;utm_campaign=Latest+from+The+Conversation+for+September+28+2015+-+3499&amp;utm_content=Latest+from+The+Conversation+for+September+28+2015+-+3499+CID_dbd79abf7855b7f7ffb01ac423d4b749&amp;utm_source=campaign_monitor&amp;utm_term=Rich%20and%20poor%20which%20areas%20of%20Australia%20are%20most%20unequal" target="_blank">here</a>.
Both are authors for The Conversation.
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Rich and poor: which areas of Australia are most unequal?

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hockingstuart will be representing Kingi and Caro in the marketing of their South Yarra apartment on The Block, the latest Channel Nine reality television series.
David Wood from hockingstuart Albert Park will be the auctioneer, while Mark Konishi from hockingstuart South Yarra will be the sales agent.
Both Mark and David were part of Charlotte and Josh’s marketing campaign earlier this year, while David was the auctioneer for Steve and Chantelle’s win in Albert Park last year.
Picture courtesy of <a href="https://www.9jumpin.com.au" target="_blank">9 Jumpin</a>
 
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hockingstuart return for another run round The Block

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We can educate “ignorance” but “stupidity” is another ball game.
Allow me to share with you two scenarios. I will in turn give you the opportunity to ponder which of these is made through ignorance and which one is made through stupidity personified. Like always, pour a cup of coffee and read on.
First scenario: 
I attended to a home in the Northern Beaches to provide a Comparative Market Analysis (CMA) and bid for the vendor’s custom. Like always, local agents were also called in.
After discussing the process and the method of sale with the vendors, they began to enlighten me about my competition. Names withheld to protect the dummies. 
The following is a short transcript of the discussion. 
Agent (A): What has the out-of-area agent (Me) told you the home is worth? 
Vendor (V): After recommendations made; fixing and cleaning parts of the home, he felt $1,500,00-$1,600,000 is achievable and would advertise along these lines. 
V: What do you believe the home is worth?
A: The figures sound right. But we would not advertise it like he suggests.
V: What do you suggest? 
A: We would auction the home and ask for offers above $1,350,000.
V: But you told me the house was worth between, $1,500,000-$1,600,000. 
A: Yes that’s right, but we don’t want to scare any buyers/enquiry and we can work them up at the auction. 
Second scenario: 
We have on the market a home for sale, in Eastlakes. As usual, other than normal enquiry, we also receive enquiry from agents that are curious. Agents that work in the area, their patch. 
The conversation went along these lines.
Local Agent (LA): Hi, I noticed you have a property in the area, I was told you had sold it? If so, what did it sell for? 
Me: Not sold as yet, but presently working with two offers. How can I help you?
LA: Well, I’m a local agent and I have listed a home around the corner, just wanted to see what you sold your home for? 
M: Nice, how does it compare with my one?
LA: Very similar but land a bit smaller. Also fully renovated and 4 bedrooms, single level. 
Me: If I can ask, what’s your price guide? 
LA: We are quoting $1,500,000-$1,800,000.
Me: Wow, that’s a very broad price-guide isn’t it?
LA: Well it’s hard to determine the value of property.
Now, you tell me which one of these agents is ignorant and which one is simply stupid. Or do you think both fall in the same category? Or perhaps the words arrogant and deceptive spring to mind? 
One thing is for sure; not all vendors are sympathetic to “under-quoting” and deceitful marketing strategies. Nonetheless, is it up to the vendor to guide the real estate industry into best practice, or up to the professional? 
What I can say to most of my realtor friends is; if the kitchen is too hot, then go back to selling used cars and take the nonsense of charging vendors for the sale and marketing fees with you.
 
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
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Ignorance or stupidity? Edwin Almeida

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I can count on the fingers of one of Homer Simpson’s hands the number of people who commentate on real estate and actually understand it.
There are plenty of people at the coalface of the industry who get real estate. It’s just that you’re never likely to hear about them in the media.
Among the public pontificators, there’s a lack of understanding about the drivers of events in real estate that’s become a contagion on the industry.
There certainly aren’t any journalists working for metropolitan newspapers who have any knowledge of market dynamics. It’s become very last century to actually know about the subject on which you write.
They compound their ignorance and confound their audience by seeking enlightenment from others who know little, notably economists. 
When I consider all the economists who have been regular lecturers about real estate – Shane Oliver, Saul Eslake, Gerard Minack, Paul Bloxham, poor old Steve Keen, pretty much everyone who works for Moody’s, absolutely everyone employed by CommSec – I can’t think of one who understands this business.
Most of them employ the Graham Richardson method of media commentary – a big ego connected to a hyperactive mouth, without the intervention of coherent thought processes. It works a treat.
It’s how much noise you make that matters. Knowledge is optional.
There are specialist real estate research companies that should bring some expertise to the table, but they’re all so devoted to making money out of computer-generated numbers they don’t conduct any real analysis. They just shovel out median price data to generate publicity. Most of their employees could write their real estate smarts on the back of a postage stamp in crayon.
The lowest-common-denominator mistake they all make – and it’s the curse of real estate consumers trying to understand what’s going on – is that they generalise. To do more would require genuine real estate wisdom. 
And because they generalise, they mislead and confuse – themselves and others.
This is why none of the chattering economists and others who sermonize on property can explain why this prolonged era of record low interest rates has managed to produce a property boom in only one Australian city.
They’re all so flummoxed by this that they pretend it’s not happening. Quoting a single generalised national figure to describe what happening to “Australian property values” is the limit of their contribution.
But the statement “Australian house prices rose 9.8% in the year to 30 June” (the latest ABS Property Price Index) is an absurdity, because prices have risen that much only in Sydney. In six of the eight capital cities, it’s been less than 3%, including two with “negative growth”.
If genuine market analysis happened in this country, someone would be making a study of this strange occurrence. Why has Sydney boomed and nowhere else? (Here’s a clue: it’s not related to interest rates, as I explained in my column on 18 August).
Last time real estate went seriously ballistic in Australia, everywhere boomed. In 2003, all of the eight capital cities had double-digit growth in their median house prices. The worst was a 13% rise. Four did better than 20% and the city average rise was 19%.
That’s what everyone expects a property boom to look like. And that’s why economists and media can’t get their heads around the current situation. 
It’s all about interest rates, isn’t it? So why isn’t it booming everywhere? Why are Perth and Darwin going backwards? Why aren’t Canberra, Brisbane and Adelaide firing? 
Maybe the tools we use to measure things aren’t up to the task. Perhaps the blunt instrument of median price data, with a single figure to describe each capital city, needs to be replaced.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
 
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