<p>Fresh off completing Pienza Neutral Bay, developer <a href="https://www.apartments.com.au/developers/central-element">Central Element</a> is preparing its next move in the coveted Lower North Shore suburb.&nbsp;</p>

<p>Central Element (CE) has lodged plans for an eight-storey apartment building at <a href="https://www.apartments.com.au/new-apartments/54-64-barry-street-neutral-bay-nsw-2089">54–64 Barry Street</a>, a 1,659 sqm site just south of Military Road and the Neutral Bay town centre.</p>

<p>The $52 million development will involve the demolition of four detached homes across four lots to deliver 45 apartments, including eight affordable housing units to be managed by Bridge Housing. The mix will comprise six one-bedroom apartments, 24 two-beds, and 15 three-beds. The apartments will sit above three basement levels with 62 car parking spaces and 50 bicycle spaces.</p>

<p><a href="https://www.apartments.com.au/architects/mhn-design-union">MHN Design Union</a> (MHNDU) has returned as architect following its work on Pienza, again shaping a mid-rise form with a clear street presence. The design features a lower four-storey podium element that responds to surrounding context, with upper levels recessed to reduce perceived bulk. Communal open space is proposed both at ground level and on the rooftop, the latter including an outdoor kitchen and swimming pool.</p>

<p>“The building has been designed with a lower four-storey element and with building materials commensurate with the character of the area,” Beam Planning noted in its submission to the North Sydney Council.</p>

<p><img alt="Barry Street, Neutral Bay Nsw 2089" data-entity-type="file" data-entity-uuid="3a28ab3a-b8ba-4476-81cd-e4a8bb84f3a7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Barry-Street-Neutral-Bay-1327x742.png?VersionId=hlgvxszAWXIHgHtdR5HiwIKiSli2lLZV" /></p>

<p>Bridge Housing will manage the affordable units for a period of 15 years, as required under the Housing SEPP’s incentive provisions.</p>

<p>MHNDU’s design report further highlights the site's strategic location just 250 metres from key bus stops and 1.3 kilometres from North Sydney CBD, positioning it for transit-accessible housing supply. In their planning justification, the design team emphasised the site’s compatibility with emerging local character and scale.</p>

<p>Central Element has a solid apartment pipeline spread all over Sydney. They recently completed&nbsp;Pienza, 37 apartments just 500 metres away from the new project, and are currently building Ethos Chatswood, Ballamac House in Coogee, and Bianca on the harbour in Drummoyne.</p>

<p>They have plans for future projects in Mosman, Bondi Beach, Greenwich, Lavender Bay, along with a tower on the edge of Hyde Park.</p>


Joel Robinson

First look: Central Element unveils second Neutral Bay apartment project

<p>Real estate investment fund Wentworth Wentworth Equities is soon to launch a "Los Angeles-inspired" residential, leisure and lifestyle precinct in Brisbane’s Hamilton riverside ahead of the predicted Olympic-led population explosion for the city.</p>

<p>Drawing its style inspiration and name from Los Angeles’ renowned The Grove, <a href="https://www.apartments.com.au/new-apartments/hamilton-grove-19-hercules-street-hamilton-qld-4007">Hamilton Grove</a> will feature three residential towers and a vibrant street-level public precinct with curated luxury lifestyle, retail and dining offerings.</p>

<p>The first of the three towers, to launch in March 2026, will comprise 61 apartments, in the same building as a premium hotel.<img alt="Hamilton Grove" data-entity-type="file" data-entity-uuid="d227fe61-8392-45b7-b386-9133f29a249f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-19%20at%209.10.56%E2%80%AFAM.png?VersionId=HTCV35HZ4h84jQCmHwhsdIPN0ctO5d7Z" /></p>

<p>Wentworth Equities Executive Chairman Sameh Ibrahim said the precinct will be unique in its appeal to both residents and the wider community.</p>

<p>“Hamilton is already one of Brisbane’s most sought-after riverside suburbs and for good reason,” Ibrahim said.</p>

<p>“Where else in the world can you walk out of your front door and have everything you could possibly need at your fingertips? The city is just around the corner, the airport is only ten minutes away, you have the river and green spaces right there and premium retail and dining on your doorstep."</p>

<p>Wentworth Equities acquired the 7637 sqm Hercules St site in 2014, when Ibrahim said he had a "very clear vision" for the precinct, but ultimately it wasn't the right time to develop. He said Hamilton was still very much an "emerging precinct."</p>

<p>“Since then, Hamilton and surrounding suburbs like Ascot and Albion have significantly grown and matured into a precinct that aligns with our vision for Hamilton Grove. Brisbane as a whole has so much to offer in the way of lifestyle appeal, but as it stands it is so widespread – you go to Howard Smith Wharves for fine dining, you go to James Street for shopping, you go to West End to walk along the river – but what if you could go to Hamilton Grove for everything?</p>

<p>“Our vision is a precinct that brings together the best of Brisbane into one central space abundant with culture, class and culinary experience – a place that a lucky few will get to call home, but the rest of Brisbane still get to explore and experience at their leisure.”</p>

<p><img alt="Hamilton Grove" data-entity-type="file" data-entity-uuid="46550990-8aeb-44d4-bb47-150cdca96529" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-19%20at%209.10.50%E2%80%AFAM.png?VersionId=bmCkApPKY_Bj3z02Q8vI7Kyo_caJXOnv" /></p>

<p>Experienced civil engineering contractor Mainland Civil has been appointed to commence early works for the project, adding Hamilton Grove to their extensive portfolio where it will join other iconic Brisbane developments including Queens Wharf, 300 George Street, Infinity Tower and 1 William Street.</p>

<p>Construction on Tower One is scheduled to commence in early 2026 with completion expected in late 2028.</p>

<p><strong>Fast Facts</strong><br />
<br />
• Three residential towers and a vibrant street-level public precinct with curated luxury lifestyle, retail and dining offerings.<br />
• Construction on Tower One is expected to commence in Quarter One 2026, with completion expected in late 2028.<br />
• 7,637 square metre site at 19 Hercules St, Hamilton (part of Economic Development Queensland’s 304 hectare Northshore Hamilton Priority Development Area).<br />
• 61 waterfront residences and skyhomes in the first tower, ranging from two to five bedrooms.<br />
• Hamiton Grove will be officially launched in March 2026.</p>


"LA-inspired" Hamilton Grove to launch on Brisbane riverside

<p>There’s a quiet patch of <a href="https://www.apartments.com.au/developments/hawthorn-vic-3122">Hawthorn</a>, between the bustle of Glenferrie Road and the curve of the Yarra, that rarely sees change, and even more rarely, new apartments. But that’s exactly where <a href="https://www.apartments.com.au/developers/pomeroy-pacific-quattro-corp">PQD</a> is planting Kooyongkoot: a deliberate, 18-residence answer to the question of what downsizers actually want.</p>

<p>“This is something this pocket of Hawthorn has never seen before,” says Fil Gacesa, head of sales at PQD. “<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a> will deliver just 18 large-scale apartments in the heart of Hawthorn. It is the true definition of resort-style living.”</p>

<p><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/59D7VxzltmM?si=1iCzRD7FRneKryfv" title="YouTube video player" width="560"></iframe></p>

<p>That scale is central to the story. It’s what allows for two dedicated lift cores, short corridors, and a generous lightcourt that draws natural ventilation and sunlight into every residence. It’s also what makes room for the sort of amenity usually confined to high-density towers: a fully equipped wellness centre with infrared and traditional saunas, yoga and pilates studio, cold therapy shower, and treatment room. There’s a golf simulator, car and dog wash stations, and extensive storage too, not bolted on, but baked in from the start.</p>

<p>But more than the checklist, it’s the design intent that carries weight. “This project has been many years in the making,” says Mark Pomeroy, Director of PQD. “Not just in planning, but in listening, to what our buyers and the local community are looking for”.</p>

<p>[smartcode_project:default project_id=102717 project_image_fid=355289]</p>

<p>That listening shows up in the materials, oak floors, natural stone, V-ZUG appliances, and in how space is handled. Penthouses feature private rooftop terraces with pools. Terraces and garden residences embrace outdoor connection. Inside, the layouts skew large and open, geared for hosting, not just housing.</p>

<p>Architecturally, <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>’s approach is grounded. There’s no reaching for spectacle here. Instead, the building offers a sculptural calm, anchored by landscaping from Eckersley Garden Architecture.&nbsp;</p>

<p>“We wanted to create spaces that feel expansive, serene, and meaningfully connected to daily life,” said founding partner Chris Stribley elsewhere.</p>

<p>[smartcode_project:default project_id=102717 project_image_fid=355304]</p>

<p>That sentiment, calm, connection, echoes in the location itself. Kooyongkoot sits just a short stroll from Central Gardens, Fairview Park, and the Rivoli Cinema. Tram lines and schools are close, but the street is tucked, quiet, and leaf-lined.&nbsp;</p>

<p>“Residents of Kooyongkoot will be a short stroll from Fairview Park, Central Gardens, and the Glenferrie Road retail strip," Gacesa notes, "but you're also cocooned in this peaceful pocket behind extensive landscaping by Eckersley Garden Architecture.”</p>

<p>Kooyongkoot is set for completion in late 2026.</p>

<p>[smartcode_project_cta:default project_id=102717]</p>


Staff Writer

The project that said no to compromise: Inside Kooyongkoot, Hawthorn

<p>When long-time Ivanhoe locals Graeme and Catherine, decided it was time to downsize, they weren’t necessarily in a rush.&nbsp;</p>

<p>Like many in their stage of life, they had started thinking about apartment living, but anticipated making the shift in two to three years.</p>

<p>That timeline changed when they visited <a href="https://www.urban.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe">Candela</a>, a new boutique development by <a href="https://www.urban.com.au/developers/salter-brothers">Salter Brothers</a>. The project ticked all the boxes they were looking for: location, quality design, and long-term lifestyle benefits, which prompted them to bring their decision forward.</p>

<p>“It was the right place at the right time,” they said. “We knew immediately it ticked all the boxes, and we didn’t want to wait.”</p>

<p>[smartcode_project:default project_id=342 project_image_fid=358855]</p>

<p>Their decision to downsize was driven by a combination of practical needs and lifestyle considerations. Their existing home, while much loved, had become increasingly difficult to maintain. It spanned multiple levels, included extensive front and back gardens, and was starting to show the wear that comes with age.&nbsp;</p>

<p>They were looking for a more manageable lifestyle, one with less upkeep and more freedom. A brand-new apartment with no maintenance requirements and the ability to simply “lock up and leave” gave them peace of mind and a greater sense of control over their future.</p>

<p>Financially, the purchase made sense as well. The available stamp duty savings, strong price-to-value offering, and timing of the settlement suited their plans, making the transition smoother and more cost-effective. The apartment's design and inclusions further supported their choice.</p>

<p>[smartcode_project:default project_id=342 project_image_fid=357493]</p>

<p>The layout was both functional and flexible: three bedrooms, a butler’s pantry, a separate laundry, and a large open-plan living area. It gave them the freedom to host a family, accommodate guests, or set up a home office. The expansive balcony and elevated views added to the appeal, providing a sense of openness and connection to the outdoors.</p>

<p>“It just had a really good flow,” Catherine noted, something they found lacking in many other apartments they’d considered, particularly in the established market.</p>

<p>Candela’s boutique scale was another deciding factor. With a smaller number of residences and a top-floor penthouse position, the couple felt the development offered the privacy and space they were looking for, without feeling isolated.</p>

<p>“We liked that it wasn’t a huge development. It felt well-balanced, modern but still with a sense of community, not overwhelming,” they said.</p>

<p>[smartcode_project:default project_id=342 project_image_fid=357508]</p>

<p>Equally important was the ability to remain in Ivanhoe, a suburb they know well and have deep roots in. After 46 years in the area, proximity to local parks, shops, and familiar faces mattered just as much as the apartment itself.</p>

<p>“We didn’t want to give up the community we’ve known for decades. Candela allowed us to upgrade our lifestyle while staying in the place we call home.”</p>

<p>With a Walk Score of 90, the village location supports a convenient, connected lifestyle. <a href="https://www.apartments.com.au/developments/ivanhoe-vic-3079">Ivanhoe</a> Station is just a eight-minute walk away, and the neighbourhood offers access to parks, cafes, restaurants, and schools along Upper Heidelberg Road, all within easy reach.</p>

<p>Beyond the apartment, the couple also saw value in the broader vision for Candela, one that integrates residential living with public spaces and local amenities.&nbsp;</p>

<p>The development introduces 58 new apartments as well as a mix of commercial and social spaces that integrate contemporary architecture with the suburb’s existing character.&nbsp;</p>

<p>At ground level, residents will find a charming café and a lifestyle wellness centre, perfect for unwinding and rejuvenating. Meanwhile, the rooftop garden offers a stunning vantage point for residents to enjoy breathtaking sunsets, host gatherings, or enjoy barbecues with family and friends. It's not just a place to live; it's a vibrant community where every moment is an opportunity to connect and create lasting memories.</p>

<p>[smartcode_project_cta:default project_id=342]</p>


Why Ivanhoe locals are choosing to downsize to Candela

<p>Mark and Roy Makari are expanding their presence in Sydney’s South West with a second major proposal for Leppington, this time envisioning a 900-dwelling mixed-use development just 850 metres from their previously lodged tower trio on Fifth Avenue.</p>

<p>Project management and construction management firm Creative Vision filed the plans for the&nbsp;multi-building project at <a href="https://www.apartments.com.au/new-apartments/230-rickard-road-leppington-nsw-2179">230 Rickard Road, Leppington</a>. The proposal seeks to establish a new focal point for the precinct through a high-density, transit-oriented development supported by diverse land uses.</p>

<p>According to the Scoping Report prepared for the Department of Planning, the scheme includes around 900 apartments across multiple towers, including 135 dwellings designated for affordable housing. A mix of market and subsidised apartments will be supported by ground-level activation through retail and office space, a childcare centre, and a hotel, forming a comprehensive urban precinct.</p>

<p><img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="34797362-f3dc-4d84-8235-2657fc5f3bde" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Plan.png?VersionId=Uzckrz9tUpDQl5lX1_WMhjnv16bsr8wG" /></p>

<p>The Design Report by <a href="https://www.apartments.com.au/architects/studiosc-0">Studio SC</a> notes that the project “intends to deliver a high-quality, high-density built form that supports the vision for the Leppington Town Centre, integrating mixed-use outcomes and public domain upgrades.” The development is expected to be delivered in stages, although a precise timeline is yet to be confirmed.</p>

<p>The project will be assessed through a future State Significant Development Application, with the Scoping Report indicating the team will seek design excellence via a competitive process or through an expert design review panel. Early massing diagrams suggest a series of mid- to high-rise buildings framing a central landscaped spine, with emphasis on pedestrian permeability and public space.</p>

<p>The planning documentation flags a strong sustainability agenda, stating that the development will “respond to the urban heat island effect, incorporate water sensitive urban design, and prioritise active transport”.</p>

<p><img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="369d7b54-1279-4cde-88ec-dcb215594414" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Podium_1.png?VersionId=QArL7B2kkLt63vl5xvL0FNV_ardAlez4" /></p>

<p>The proposal follows in the footsteps of the Makaris’ nearby Fifth Avenue site, where they’ve submitted plans for three towers comprising nearly 500 apartments, with 10 per cent dedicated to affordable housing. That project features commercial podiums, a childcare centre, and a new public park that would occupy more than a third of the site.</p>

<p>Both developments are situated within walking distance of Leppington Train Station and fall under strategic precinct plans promoting higher density housing. The town centre is undergoing substantial transformation, driven by state government planning reforms aimed at fast-tracking housing delivery.</p>

<p>Together, the two projects represent a combined ambition of nearly 1,400 new homes across just under two kilometres of central Leppington.</p>


First look: 900-home mixed-use precinct planned for Leppington

Resale Loss

<html><body>
<p>Houses that sold for less than their previous purchase price over the June 2019 quarter were typically held by the owner for 5.8 years, according to the latest data from CoreLogic's June quarter Pain &amp; Gain report.</p>
<p>The report found units sold at a loss over the quarter were typically held by their owners for 5.7 years. Conversely, houses sold for a profit had typically been held for 10.0 years and units 8.8 years.</p>
<p>Throughout the combined capital cities, loss-making resales of houses had typically been held for 4.6 years compared to 5.1 years for loss-making resales of units.</p>
<p>Those capital city houses resold for a profit had typically been held for 10.5 years compared to 9.1 years for units.</p>
<p><img src="https://www.urban.com.au/images/2019/10/29/Resales%20HOLD.JPG" alt=""></p>
<p>Houses sold at a loss in Sydney and Melbourne typically had a much shorter hold period than other capital cities. For units sold at a loss, only those in Hobart and Canberra had a median hold period of less than a decade.</p>
<p>In terms of profit-making resales, the median hold periods for houses were longer in Darwin than they were elsewhere and the shortest in Sydney.</p>
<p>For units, Perth and Darwin once again had much longer median hold periods than elsewhere with Sydney, Melbourne and Hobart having the shortest hold periods.</p>
<p>"The trend towards longer holding time in Perth and Darwin for profit–making resales reflects the ongoing weak housing market conditions of the past decade," the report said.</p>
<p>"In regional Australia, houses resold for a loss were typically held for 7.6 years compared to 9.3 years for those sold at a profit.</p>
<p>"For regional unit markets, the average hold period for resales at a loss (9.2 years) was actually longer than for those resold at a profit (7.5 years).</p>
<p>"For houses resold at a loss, the typical hold period was shortest in regional NSW and regional Victoria and longest in regional SA.</p>
<p>"For loss-making unit resales hold periods were shortest in regional NSW and regional Victoria and longest in regional WA.</p>
<p>"For houses reselling at a profit, typical hold periods were much greater than elsewhere in regional areas of SA and Queensland.</p>
<p>"For units selling at a profit, hold periods were longest in regional SA and regional WA."</p>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Homes resold at a loss were held 5.75 years on average: CoreLogic Pain & Gain Report

<html><body>
<p>Big names, big losses. Imagine taking a $500,000 hit on your house resale.</p>
<p>That's the largest loss yet taken by Sydney sellers in the property market downturn now taking hold.</p>
<p>The $500,000 price woes are shared equally on a sale at Warrawee and Castle Cove.</p>
<p>Jerry Ren, the now bankrupt former oil and gas entrepreneur Jerry Ren took a $500,000 loss when <a href="https://chiltonrealestate.com.au/m290/27-29-chilton-parade-warrawee" target="_blank">Bremon, the Warrawee trophy home</a> (top) sold recently for $11 million. The vast home, once dubbed the Chilton Hilton, had been bought by Ren, described as the Northern Territory's first billionaire, for $11.5 million eight years ago.</p>
<p class="first-para">It was the Waitan Restaurant, Haymarket restauranteur Kai Meng who took a $500,000 loss on his Castle Cove home resale, selling off-market for $5.5 million (below).</p>
<p class="first-para"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/12/neerim1.jpg" alt=""></p>
<p class="first-para">The property had cost $6,006,666 in 2011. Ofcourse after other costs including $360,000 stamp duty on purchase and around $115,000 on estate agent commissions the total loss would have neared $1 million.</p>
<p class="first-para">The grand six-bedroom residence, built in the late 1990s, is set on 2500 square metres of Neerim Road waterfront reserve. The Waitan Group’s windup has seen debts owed to the Australian Tax Office.</p>
<p class="first-para">The property pain is emerging amid vendors across Sydney, although CoreLogic stress it is hitting the top end the most.</p>
<p class="first-para">Values are down<span> 8.6 percent amid <span>the top percent of the market compared to a 4.6 percent drop amid the cheapest quartile.</span></span></p>
<p class="first-para"><span><span>The top nine known losses have seen prices fall by between 8.3 percent and 0.5 percent.</span></span></p>
<p class="first-para"><span><span>But lesser losses are emerging among the suburbs. Cricketer Nathan Lyon recently stumbled with a $15,000 Vaucluse apartment price drop. </span></span></p>
<p class="first-para">Around 3 percent of Sydney house sales have been at a loss, in the last quarter survey by CoreLogic, and 3.5 percent of apartments.</p>
<p class="first-para">CoreLogic first calculated Sydney prices were falling in September last year, with actual losses quickly following.</p>
<p class="first-para">The downturn followed a five year period when prices peaked with some 78 percent growth.</p>
<p>In Sydney the declines over the past year has seen median home prices fall by around $70,000.</p>
<p>In percentage terms, the 7.4 percent annual dwelling decline in Sydney was the largest since February 1990.</p>
<p class="x_xmsonormal"><span>"Sellers who are motivated and willing to meet the market essentially reset price points, so even if you’re a little stubborn as a seller and want to hold onto your price, unfortunately you are now at the mercy of others who are dropping prices to meet buyer demand," inner west agent Matt Hayson said.</span></p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"The market has certainly slipped faster than most forecast," agent Matt Hayson said, noting the recent 7.4 percent Sydney price decline data.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"It hasn’t been just the speed of the decline but also how far it has moved too.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"I think a few articles suggested we are back to 2016 prices but I’d suggest it’s 2015 prices already and continuing to drop," he said.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"Auctions are largely not working. </p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"I’m seeing more and more auction delays given the incredibly tough restrictions on pretty safe bet home loan applicants.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"If you place your property on the market, you’d want to prepare yourself mentally for a roller coaster and in most cases very weak feedback with the likelihood of one or maybe two buyers willing to make an offer."</p>
<p>Matt Hayson said homeowners who were selling recently purchased properties were in a vastly different position from those selling homes owned for decades.</p>
<p>“And for people who don’t own a home, it is a good chance to get into the market.” </p>
<div>The pricey Palm Beach saw its second resale at a loss last month.</div>
<div> </div>
<div>Christian Ainsworth, of the aristocrat pokie machine family, took a <a href="https://www.realestate.com.au/sold/property-house-nsw-palm+beach-129620950" target="_blank">$400,000 loss on his Palm Beach retreat</a> (below).</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/12/ocean.jpg" alt=""></div>
<div> </div>
<div>He paid $3,425,000 for the four bedroom dress circle Ocean Road property in 2013 and sold for $3,025,000 through BresicWhitney agent Adrian Oddi.</div>
<div> </div>
<div>"The vendor <span><span>was very happy with the price achieved and the timeframe," Oddi said. </span></span>
<p>“Remember 50 percent of Sydney properties have no buyers. The other 50 percent might have one buyer. That’s the reality,” Oddi said.</p>
</div>
<div>Indeed Ainsworth had been conditioned to expect an even bigger loss having a $2.9 million price guide for the 1960s home.</div>
<div> </div>
<div>There was a $2.5 million sale recently of a hillside Palm Beach weekender that previously sold at $2.55 million in 2005.</div>
<div> </div>
<div>There had been a foreboding big loss at neighbouring Whale Beach late last year when the retiring Dow Chemicals chief Andrew Liveris sold his ’70s-style beach house for $3.33 million to his neighbour.</div>
<div> </div>
<div>The home, neglected by its absentee owner, had cost $3.675 million in pre-GFC 2006, highlighting how the luxury second home market was hot hard and long after the global financial crisis. Liveris took a $345,000 loss on the 1,110 sqm Whale Beach Road property which slopes down to the ocean.</div>
<div>
<div> </div>
<div>Boom time off the plan exuberance has emerged as a weak spot for prices.</div>
<div> </div>
<div>Last month the online publisher Jackie Maxted lost $200,000 in the resale of a penthouse in the warehouse conversion of the iconic Griffiths Tea building in Surry Hills.</div>
</div>
<div class="in-content-ad">
<div> </div>
<div>Maxted, who founded the Beauty Heaven website, paid $4 million off the plan in 2015 for New York-style Federation warehouse apartment. She rquietly sold the two level, three bedroom penthouse for $3.8 million.</div>
</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">The Block judge Neale Whitaker lost $170,000 on his stylish Alexandria apartment when selling for $1,535,000 earlier this year. He bought on completion in the SJB Architects &amp; Interiors designed Birmingham Street block for $1,705,000 in 2016.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">"Disappointed of course but market forces and market forces," Neale tweeted after its unsuccessful auction.</div>
<div class="in-content-ad">
<div>  </div>
</div>
<div class="in-content-ad">Flipping is now a tricky tactic in property. The art collector John Scheaffer took a direct $100,000 loss on Bonnignton, the Tudor, English-style manor in Bellevue Hill that he bought for $20.5 million in February.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">After a quick makeover, where he <span>removed old carpet, restored timber floors and replaced electric switchboards and lighting during his very brief ownership.</span> Schaeffer could only secure $20.4 million at its recent auction.</div>
<div class="in-content-ad">
<p>Charles Tarbey, chairman of Century 21 Australasia noted people taking losses in the current property market might be forced sellers, or parties looking to downsize or upsize.</p>
<p>"Taking a loss may not be a huge concern for some so long as they are buying in a market that has also experienced comparative declines in property prices.</p>
<p>"However, many markets are still experiencing property price growth so these groups should be conscious of that and look to do their research," Tarbey stressed.</p>
<div>
<div>
<p class="first-para">Jade Guven, the wife of the property developer Savas Guven, sold her Bayview abode for a $450,000 loss.</p>
<p class="first-para">Having paid $3.7 million, the luxury four bedroom home sold seven months later for $3.25 million.</p>
At Clovelly fitness entrepreneur Jacinta McDonell, who co-founded Anytime Fitness in Australia, sold her <a href="https://www.realestate.com.au/sold/property-house-nsw-clovelly-129021086" target="_blank">Clovelly project for a $350,000 loss</a> last month (below).</div>
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<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/12/seaview-clov.jpg" alt=""></div>
<div> </div>
<div class="in-content-ad">She didn't get round to developing the duplex-style Federation that was made up of two two bedroom apartments. She just sold for $3.12 million, having paid $3.47 million last November.<a href="https://www.realestate.com.au/sold/property-house-nsw-clovelly-129021086" target="_blank"></a>
</div>
</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">BresicWhitney director Shannan Whitney says the idea of ‘list it and they will come’ has evolved into a new dynamic.</div>
</div>
<div class="in-content-ad">
<div>
<p>“Pricing ethos has been mainly focused on finding a price in line with comparable sales. </p>
<p>"Now it’s about finding a price that ensured you will engage a reluctant buying market.”</p>
</div>
<div>Whitney recently advised clients "the current property climate is testing emotions all over Sydney."</div>
<div> </div>
<div>"At the heart of it, plenty of people have been, mostly unintentionally, set up for failure," he noted.</div>
</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">Hardly off a cliff, but Nathan Lyon had to revise his price hopes on his Vaucluse investment apartment.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">
<div>Local agent Brad Pillinger sought more than $1.2 million initially, but the three bedroom apartment would later see it passed in on an $1.1 million vendor bid.</div>
<div> </div>
<div>Lyon ended up selling for $1,085,000, having paid $1.1 million in 2015.</div>
<div> </div>
<div>Even vacant land blocks are heading backwards.</div>
<div>
<p>A vacant block of land at Menai in the Sutherland Shire has sold for $955,000, going backwards on its sale last year.</p>
<p>The 818 sqm building block in Anderson Ridge, one of the Shire's new estates, fetched $980,000 in 2017.It took 111 days to sell, with the price revision to $1.02 million prompting a sale.</p>
<p>The block at 39 Anderson Place first sold for $640,000 in 2015 when bought from the developer.</p>
</div>
<div>
<p>Sydney's largest losses were in the 1990 recession when one Point Piper harbour front house fell from its record $11.5 million peak in 1987 back to $6.1 million and then $5.25 million over a five year period.</p>
<p>Terry Ryder at Hotspotting website says a<span>nyone who has owned for a few years will still be selling for a decent profit in Sydney.</span></p>
<p><span>"<span>The only people taking losses in Sydney should be people who bought recently and, for whatever reason, need to sell in a hurry," Ryder advised.</span></span></p>
<p>This article was first published in the Saturday Daily Telegraph. </p>
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jchancellor-FAypfDUnLy

Orderly downturn sees $500,000 losses taken at Sydney top end residential

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<p><span>Over the 12 months to June 2017, 3,861 dwellings were sold after having been held for less than a year nationally with a further 16,749 resold after being owned for between one and two years, according to CoreLogic.</span></p>
<p><span>These figures represented 1.3% and 5.7% of all resold property sales over the year. </span></p>
<p><span>Flipping remains a small proportion of the overall housing market however, flips between one and two years have been trending higher over recent times. </span></p>
<p><span>In its heyday in the early 2000s, 4.4% of all properties were flipped in less than 12 months and 16% were flipped between 12 and 24 months from previous purchase. </span></p>
<p><span>What is surprising is that the introduction of the capital gains tax discount for investors that held properties for more than 12 months in 1999, made little difference to flipping behaviour.</span></p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/1/19/flipping-by-state.jpg" target="_blank">to enlarge.</a></p>
<p><span><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/19/flipping-by-state.jpg" alt=""></span></p>
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<p><span>In fact, the incidence of flipping didn’t rise substantially until the national housing market boomed between 2001 and 2004. </span></p>
<p><span>Focusing solely on those properties which are ipped, the data shows that most of these properties are selling for a gross profit. </span></p>
<p><span>Over the 12 months to June 2017, 10.9% of flips held for less than 12 months were at a loss and 10.1% of flips held for between 12 and 24 months resold for a loss. </span></p>
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<p><span>Although the proportion of flips at a loss has declined from recent highs in 2009 and again in 2012, there has been a clear increase in loss-making flips recently. </span></p>
<p><span>The rising number of loss making flips highlights there is some financial risk in flipping, keeping in mind that the proportion of </span>loss making flips on a net basis is likely to be substantially higher once expenses are taken into account.</p>
<p><span>Across the major regions of the country, flipping was more prevalent in Sydney, Melbourne and Regional QLD.</span></p>
<p>Darwin was the weakest capital city for prices in 2017.</p>
<p>Its resale losses have also been a problem in recent years.</p>
<p>The propensity to flip in Sydney and Melbourne is likely due to the strong run-up in values over recent years whereas regional QLD is probably seeing greater propensity to flip as people struggle to meet mortgage repayments as unemployment has risen and dwelling values have fallen.</p>
<p><span>Vendors in Perth, Hobart, Darwin, regional QLD, regional SA, regional WA, regional TAS and regional NT were the most likely to ip their properties for a loss. </span></p>
<p><span>In most of these regions value growth has been sluggish for a number of years which makes flipping for a profit much more difficult. </span></p>
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Loss-making property flips on the rise, especially in Darwin: CoreLogic

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<p><span>Over the September 2015 quarter, 9.5 percent of Adelaide resales were at a gross loss, according to CoreLogic RP Data.</span></p>
<p><span>It was up from 9.4 percent at the end of the first quarter of 2015 and higher than the 9.1 percent over the same quarter last year. </span></p>
<p><span>Prospect recorded no loss-making resales over the quarter while Campbelltown (2.2 percent) and Unley (2.9 percent) recorded less than 3.0 percent of all resales at a loss. The highest proportions of loss-making resales over the quarter were recorded in Playford (24.7 percent) and Light and Walkerville (both 14.3 percent) council areas. </span></p>
<p><a href="/images/2016/01/29/Screen%20Shot%202016-01-29%20at%2011.34.27%20AM.png" target="_blank"><span>Click to enlarge</span></a></p>
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