Brisbane-based <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co Developments</a> has officially launched its $250million COMO apartment development in Varsity Lakes, while simultaneously commencing construction.&nbsp;

Building work is now underway at COMO following the appointment of <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a> as contractor to deliver the boutique development which will rise on a 2857 sqm site overlooking Lake Orr at 22 Lake Street.

When completed, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels located in the heart of Varsity Lakes.

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The project, which will sit alongside Bond University, will deliver a diverse array of apartment designs comprising one-, two- and three-bedroom residences that have already attracted interest from local and interstate investors as well as an array of owner occupiers looking to gain a foothold in the precinct.

Red &amp; Co, which has largely focused on the Brisbane market in recent years where it has delivered more than 500 apartments and townhouses across 26 projects, has designed COMO to combine tranquil, lakeside living with the vibrant urban convenience of the vibrant Varsity Lakes village.

“We’re thrilled to announce a start to construction of COMO in conjunction with the official launch of the project, our first for the Gold Coast,” said Red &amp; Co Director and Co-Founder David Laverty.

[smartcode_project:default project_id=135546 project_image_fid=363509]

“COMO is superbly positioned to capture the essence of the Varsity Lakes village lifestyle and its thriving café and dining precinct, while delivering a much-needed diverse supply of premium residences for the local market.

“Pre-launch inquiries have been strong among both local and interstate investors and owner-occupiers, including downsizers and upgraders who appreciate the value proposition that COMO represents.”

Prices at COMO start from $1,000,050.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the COMO development incorporates an extensive range of amenities for residents including a 25-metre rooftop lap pool, sundeck, barbecue and dining areas, as well as multiple rooftop pickleball and paddleball courts, a wellness and activity centre, gym, sauna, plunge baths and landscaped gardens.

“COMO presents a rare opportunity to secure a stylish, lifestyle-focused home in one of the Gold Coast’s most sought-after neighbourhoods,” added Laverty.

“The rooftop will be the epicentre of fun for residents with an array of amenities for residents that are quite unique for a boutique project such as this, all while offering spectacular vistas across the Gold Coast as far north as Southport and south to Burleigh.”

[smartcode_project:default project_id=135546 project_image_fid=363514]

&nbsp;

Red &amp; Co has chosen the Varsity Lakes site for its proximity to top-tier schools, major shopping hubs, such as Robina Town Centre and its CBD offering, as well as key Gold Coast transport links, including Varsity Lakes Train Station.

COMO will be located just a short walk to shops, cafes and restaurants in Varsity Lakes and just a 10-minute drive to the Burleigh Heads beachfront.

With construction currently underway, Red &amp; Co anticipates COMO will be completed in 2028.

[smartcode_project_cta:default project_id=135546]

Joel Robinson

Red & Co to launch debut Gold Coast development Como Varsity Lakes as construction commences

Longstanding Gold Coast developer Raptis has acquired a prime development site on Surf Parade for its next Broadbeach apartment project.

Progressing towards completion of <a href="https://www.apartments.com.au/new-apartments/the-sterling-broadbeach-6-8-george-avenue-broadbeach-qld-4218">The Sterling Broadbeach</a>, 90 apartments on nearby George Avenue, <a href="https://www.apartments.com.au/developers/raptis">Raptis</a>, led by second-generation family man Evan Raptis, has picked up a block on the corner of Surf Parade and First Avenue.

The site had been earmarked for a luxury apartment project with 33 full-floor apartments across a 37-storey tower. Raptis will go back to the drawing board and create a building more appropriate for the site. The development application will be lodged later this month.

Evan Raptis told Apartments.com.au the site ticks all the boxes.

"Broadbeach is a suburb we've developed several buildings over the years. Surf Parade ticks all the boxes for the type of apartment development we want to deliver."

Raptis had several pre-lodgement meetings with council to ensure they are aligned in the development.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="f0d58573-07a4-47a8-9f5e-fbf35fb03dc3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-05%20at%204.58.23%E2%80%AFPM.png?VersionId=iczZEd_4_o4UL0PHMPJGfy_q3tv96J5i" />

Surf Parade has emerged in recent years as one of the most popular streets in Broadbeach for development.

South East Queensland developer Mosaic Property Group kicked it off with Marella by Mosaic. Bassar Group sold out Infinity on the street, while for its&nbsp;first Gold Coast development, Polycell grabbed a Surf Parade site for <a href="https://www.apartments.com.au/new-apartments/the-rochester-broadbeach-143-surf-parade-broadbeach-qld-4218">The Rochester</a>, which is nearly sold out.

Melbourne-based developer Hirsch &amp; Faigen recently launched its fourth Gold Coast project on the exclusive strip. The Eveleigh Broadbeach will have 100 apartments across a 31-storey building designed by Rothelowman.

GV Property Group site development specialists Antonio Mercuri and Luke Reaby, who both amalgamate sites and sell shovel-ready sites to developers up and down the Gold Coast, sold Surf Parade to Raptis.

Raptis secures prime Surf Parade site for next Broadbeach apartment development

Less than two years after breaking ground, Gardner Vaughan Group is celebrating the topping out of Bask, its second development in the exclusive coastal enclave of Bokarina on Queensland’s Sunshine Coast.&nbsp;

Located only minutes from the beachfront, the two seven-storey luxury apartment towers, known individually as Mydas and Caretta, offer a selection of one-to-four-bedroom residences with views of Lake Kawana, the Glasshouse Mountains, and Bokarina Beach.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333359]

Gardner Vaughan Group Commercial Director Sam Gardner said the milestone marks the home stretch for construction, with first residents expected to be able to move in from Spring 2026.&nbsp;

“This is a significant milestone in bringing this development to life and represents our confidence in this region’s long-term growth and appeal,” Gardner said.&nbsp;

“With 85 per cent of apartments already sold, buyers are joining an established, coastal village that offers the very best of the Sunshine Coast – seasonally patrolled surf beaches, renowned restaurants, and links to established health and retail.&nbsp;

“The final collection of three- and four- bedroom apartments range in size from 127sqm to 300sqm, each with two or three secure car parks and storage, and with construction fast approaching completion we don’t expect the last few apartments to remain on the market for long.”&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333362]

Local restaurateur Luke Stringer, who co-owns and manages the award-winning Bocca Italian and Playa Mexican restaurants in Bokarina, has lived in the beachside suburb for 18 months and worked there for more than three years, and said the beachside suburb was thriving.&nbsp;

“It’s fair to say Bokarina is finally stepping into the sun and there’s a lot to love about the place,"&nbsp;Stringer said.

"It’s such a great community, where you see the same smiling faces every morning and everything’s within easy reach – it’s the perfect hub in the middle of the Sunshine Coast.

“When we first opened Bocca Italian, we were the lone restaurant, but it’s been amazing to see how the area has grown. The more venues that open, the busier it gets for everyone. When Playa Mexican opened its first Saturday night, Bocca had a record night and Playa was packed too, which blew us away how everyone is thriving.&nbsp;

“There’s a great energy around the place now, and people are really embracing Bokarina as a food and lifestyle destination.”&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=363368]

Stringer joined other buyers at Bask Bokarina and the Gardner Vaughan Group team to celebrate the topping out at a special event in February.&nbsp;

Located in Kawana Waters, midway between Caloundra and Maroochydore, Bokarina locals enjoy scenic walking paths around Lake Kawana, playgrounds, beachfront boardwalk and parklands, alongside all the convenience of a masterplanned beachside community.&nbsp;

“You see people jogging or swimming in the morning, then grabbing coffee at the cafes, people are really embracing the area and all this growth is bringing more people to Bokarina,” Stringer added.&nbsp;

To take advantage of the vistas, each of the 135 apartments at Bask is designed with full size windows and high ceilings that provide an abundance of natural light.&nbsp;

Prices for the remaining three-bedroom apartments start at $1,599,000 and four-bedroom apartments start at $3,149,000.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=363369]

The mixed-use development also features ground-level retail space for cafés, dining options and boutiques, including the soon-to-be-opened ‘Corner Shop’, by the team behind Noosa’s well known ‘Organika’.

Sam Gardner said Gardner Vaughan Group’s 37-year history building and developing across South East Queensland has contributed to the success of its second development in Bokarina, which follows the recently completed Zinc Apartments.&nbsp;

“We care how people live and this is reflected in the way we approach the design and delivery of every development,” he said. “Furthermore, as a builder-developer we have full control over the construction program and our 100 per cent completion rate is something people can draw confidence from.”&nbsp;

Founded by civil engineers Guy Gardner and Darryl Vaughan in 1989, the family-owned business has evolved from a consultancy firm to an award-winning builder-developer, with projects across the Sunshine Coast, Moreton Bay, Brisbane and the Gold Coast.

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Gardner Vaughan Group tops out Bask Bokarina apartments

Prolific Melbourne developer <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> has launched its fourth new Gold Coast development in as many years.

<a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a>, led by Daniel Faigen and backed by Eddie Hirsch, co-founder of United Petroleum, has unveiled The Eveleigh, on a prime 1,100 sqm site at 7-9 Surf Parade in the heart of Broadbeach.

<a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a> will deliver 100 apartments across 31 levels, making it the company’s largest Gold Coast project to date. It builds on the success of its three earlier developments, <a href="https://www.apartments.com.au/buildings/hemingway-1267-1273-gold-coast-highway-palm-beach">The Hemingway in Palm Beach</a> and <a href="https://www.apartments.com.au/buildings/emerson-kirra-100-musgrave-street-coolangatta">The Emerson at Kirra</a>, both completed, and <a href="https://www.apartments.com.au/new-apartments/yves-mermaid-beach-7-9-mermaid-avenue-mermaid-beach">Yves Mermaid Beach</a>, which is nearing completion.

[smartcode_project:default project_id=149670 project_image_fid=360966]

The announcement of The Eveleigh affirms the company’s sustained confidence in the Gold Coast market which continues to remain undersupplied. It also increases the value of Hirsch &amp; Fa​igen’s Gold Coast development portfolio to more than $700 million since the company first entered the market in 2021 with Hemingway.

The company has enlisted its preferred architecture firm Rothelowman to design The Eveleigh, which will offer a thoughtfully curated lifestyle, including a substantial wellness precinct, communal recreation areas, children’s play spaces, work-from-home facilities, and shared lounge and dining areas.

[smartcode_project:default project_id=149670 project_image_fid=360965]

Designed for the prime market demographic of downsizers and interstate lifestyle investors in mind, The Eveleigh has been crafted to offer an increasingly rare blend of affordable luxury in a tightly held market. Uniquely positioned in the heart of the Gold Coast’s most sought-after lifestyle suburb of Broadbeach, the project will also boast uninterrupted beach and hinterland views.

The Surf Parade site is just a short walk to the bustling Broadbeach dining and retail precinct, Pacific Fair, The Star Gold Coast and convention centre, and an easy stroll to Kurrawa Beach and the recreational amenity of Pratten Park on the Broadbeach foreshore.

[smartcode_project:default project_id=149670 project_image_fid=360975]

“We’re excited to be proceeding with our fourth project on the Gold Coast in what is certain to become the new luxury precinct in Broadbeach,” says Anthony Bueti, the CFO of Hirsch &amp;a​mp; Faigen and a shareholder of the group.

“With the likes of Mosa​ic and Abedian &amp;a​mp; Co also launching quality projects in the area, the transformation will cement Broadbeach as the premier lifestyle and amenity suburb on the Gold Coast.

"After four years in the Gold Coast market, and with three successful projects completed, The Eveleigh is the product of everything we have learned to love about the Gold Coast and it will be an incredible addition to our growing portfolio in one of the most vibrant property markets in the country. We continue to remain very confident in the high-end Gold Coast property market.”

Urban Activation Director Matt George is handling sales for The Eveleigh, having sold out The Emerson, The Hemingway, and Yves, all before construction was completed.

Melbourne builder MAXCON has already commenced construction on The Eveleigh. They are forecasting a mid-2028 completion.

[smartcode_project_cta:default project_id=149670]

Hirsch & Faigen unveils The Eveleigh in Broadbeach

Two years after securing development approval for the final stage of its award-winning Thornton Precinct on the doorstep of Penrith Station, Urban Property Group is set to launch <a href="https://www.apartments.com.au/new-apartments/mayfair-on-penrith-172-lord-sheffield-circuit-penrith-nsw-2750">Mayfair on Penrith</a>, around 400 apartments designed to reflect two of Sydney’s most iconic structures.

The builder-developer has continued refining the design plans for the two-building development on a significant 8,280 sqm site on Sheffield Circuit, recognising the importance of the prime parcel as one of the closest developable sites to the station.

UPG enlisted architecture firm SJB to design the project. The team said they drew inspiration from both the General Post Office in Martin Place and East Circular Quay to help shape the design. The two-level colonnade, in particular, reflects the famous GPO building, which dates back to the 1860s.

[smartcode_project:default project_id=136726 project_image_fid=362014]

There will be one-, two-, and three-bedroom apartments on offer, with interiors by Cox Architecture. Residences will sit above a retail podium featuring hospitality and lifestyle operators such as One Playground and Volcano’s Steakhouse, contributing to an activated ground plane within the broader Thornton precinct.

A communal rooftop with a pool and views towards the Blue Mountains will provide shared open space for residents. The development is positioned between Ron Mulock Oval and Westfield Penrith, with the Nepean River and Great River Walk also nearby, placing daily amenity and green space within walking distance.

&nbsp;

[smartcode_project:default project_id=136726 project_image_fid=362015]

Mayfair is being delivered by Urban Property Group, a family-owned developer and builder with nearly 40 years’ experience across Sydney. The project will be the first in Penrith to be offered with Resilience Insurance’s 10-year Latent Defects Insurance (LDI) policy, which Urban Property Group has adopted across a number of its recent developments. The developer also has a 4.5-star iCIRT rating, one of the best ratings in market providing further confidence to buyers.

Urban Property Group CEO Patrick Elias said providing additional assurance to off-the-plan buyers has become increasingly important.

“Anything we can do to give confidence in our product is a plus,” Elias told Apartments.com.au.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. They’re making their single large investment, which is their home, and providing confidence is something that we feel is paramount.”

[smartcode_project:default project_id=136726 project_image_fid=362020]

The LDI policy provides a 10-year warranty covering structural defects, with independent inspections carried out during construction and protection for owners if defects arise post-completion.

Mayfair represents Urban Property Group’s sixth and final development within Thornton, consolidating the masterplanned precinct immediately east of the station.

The developer, which builds its own projects, has already commenced construction. SRM Residential is handling the sales campaign.

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Urban Property Group to close the curtain on award-winning Thornton precinct with Mayfair on Penrith release

Residential Land

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Sydney-based developer Lendlease has secured 1,100 residential lots in the recently approved Pakenham East precinct structure plan (PSP), south-east of Melbourne.

The deal, brokered by Core Projects’ Kane Malcomson and Trent Malcomson, will see an 83-hectare cattle farm transformed into a new masterplanned community.

Located across three titles, the project includes an 11-hectare park with extensive waterways and is close to the future town centre.

“I am delighted to have worked with one of Australia’s leading developers, Lendlease, to broker this deal”, Kane Malcomson said. “Core Projects’ depth of understanding of Melbourne’s South-Eastern growth corridors has helped facilitate a mutually beneficial deal for both developer and landowner and we are proud to be growing our footprint in this region.”

The approval of the new Pakenham East PSP will further fuel growth of Melbourne’s south-east, with proposed plans including future schools, parklands, child services and a range of other facilities.

Melbourne’s south-east has seen immense growth in the past two years with demand for property in the region expected to continue. 
 

<h2>Other masterplanned communities in Victoria on the market right now</h2>

Alongside green spaces, amenities and often affordable entry prices, masterplanned communities offer a great option for first home buyers and families looking to upsize.

Urban takes a look at three townhomes on the market right now, situated within masterplanned communities. 
 

1. Tullamore Homes, Doncaster 
Address: 11 Heritage Boulevard, Doncaster VIC 3108 
Four-bedroom townhomes from $1,450,000

[smartcode_project:default project_id=22803]

Mirvac’s Tullamore homes offers spacious, contemporary residences ideal for family living, situated just 17-kilometres from Melbourne’s CBD.

Set on the former Eastern Golf Course, the development boasts four-bedroom townhomes with views of the nature reserve and a six-star environmental rating. 
 

2. The Terraces at Minta, Berwick 
Address: Soldiers Road, Berwick VIC 3806 
Three-bedroom townhomes from $529,000

[smartcode_project:default project_id=27487]

Also located in Melbourne’s growing south-east is <a href="/developers/stockland">Stockland</a>’s latest project, the Terraces at Minta. Targeted towards first home buyers, Minta residences offer high-quality design at an affordable price.

Each of the double-storey homes include secure car garages, double glazing, high ceilings and garden landscaping, as well as open-plan living and dining and a fully-fenced garden patio. 
 

3. The Grove Estate, Tarneit 
Address: 180 Davis Road, Tarneit VIC 3029 
Four-bedroom townhomes from $583,755

[smartcode_project:default project_id=28210]

Bordered by both the Davis Creek and Werribee River waterways, the Grove Estate boasts three and four-bedroom townhomes set in a picturesque community setting.

Surrounded by walkable parkland, wetlands and growing town centres, the Grove offers a family-friendly lifestyle with distinct neighbourhoods and a well-established community.
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Purchasing an 83-hectare cattle farm, across three titles, Lendlease hopes to transform the site into a new masterplanned community in Pakenham. 

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Lendlease secures 1,100 residential lots for new Melbourne masterplanned community

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Demand for residential land around Sydney has soared over the last six months, according to independent valuer and advisor m3property.
They say the reduced cost of debt, easier access to finance, smaller lots, and apartment market woes have been behind a noticeable pick up in demand for Sydney residential land in the last six months.
There was also a marginal price increase in the six months to June.
M3property's latest market report, Sydney Land Market Recovery, found land take-up had increased dramatically since the Federal election.
Jennifer Williams, national director of research, at m3property, said while take-up rates for land had averaged zero to two lot sales per month over the period September 2018 to May 2019, post-election take-up had accelerated to three to four lots per month and, in Sydney’s growth regions, six to eight lots per month according to proximity to railway stations.
"The take-up rate has accelerated markedly since May and there are a number of factors at play, not the least being the typical pre-election market paralysis and an election campaign characterised by much debate about housing issues including negative gearing and affordability," Williams said.
"Since the election APRA’s removal of the 7 per cent serviceability cap on residential home loans and the fall in the official cash rate from 1.5 per cent to 0.75 per cent have aided the borrowing power of most applicants.
Williams suggested smaller, and more affordable, lot sizes of 250 to 300 sqqm – lot sizes averaged 454 sqm at June 2019 - pent up demand, and an increase in the median Sydney house price, had also been drivers of a general market uptick, which had seen a modest land price rise over the first half of 2019 of 0.94 per cent.
Associate director residential development at m3property Ben Toole said negative apartment market publicity had also been behind some owner-occupiers’ decisions around a new preference for houses as a safer alternative.
"The cladding and construction flaws issues have been major negatives for the apartment market and not surprisingly those issues have affected consumer sentiment around what is, for most people, the biggest investment they will ever make.
"I have no doubt the apartment market will recover but for now it is one of a number of factors behind a significant resurgence in the take-up of land in Sydney,’’ Toole added.   
He said while the rate of take-up had been highest for land in close proximity (two kms) of existing railway stations, the rate of sales was also dependent on developer reputation, the size of the subdivision, choice of lots and the stage of subdivision development.
Toole said there was still room for growth – take-up rates remain below levels reached in 2016 and 2017 – and particularly in areas where infrastructure was at the most advanced levels.
<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/Sydney%20land%20values.jpg" alt="">
"The North West Growth Region has seen greater demand than the South West due to established transport services, including the introduction of the new Northwest Sydney Metro, while areas such as Box Hill, Schofields (Pictured top, the <a href="/news/clear-skies-ahead-for-akuna-vista-development-at-schofields-aerodrome">Akuna Vista development</a>) and Marsden Park have seen higher sales rates and higher prices due to both a greater number of estates and more completed estates.
"While overall price points in the South West are slightly lower than the North West, areas such as Leppington and Austral are achieving higher price points due to the Leppington railway line,’’ Toole said.
The report found Greater Sydney was likely to see an undersupply of dwellings over the next five years based on the Department of Planning, Industry and Environment’s forecast of the completion of 191,550 dwellings over the five years from 2018/19 to 2022/23.
The numbers equate to 38,300 homes per year, a significant 22 per cent rise on the previous five years when 157,250 new homes were completed, but less than the required 39,600 houses per year should the average household size in greater Sydney remain at the same level as the last Census, Jennifer Williams said.
"If the 198,030 additional houses are required, as an extrapolation of the Census data suggests, then Greater Sydney is likely to see an undersupply of dwellings over the next five years. 
"This is likely to result in a continued reduction of lot sizes in the Sydney region and increased lot prices over the five-year outlook,’’ Williams said.
 
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North West and South West Sydney lead pick up in residential land demand

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The cost of land is one of the main components in determining the price of a new home, according to HIA Economist Angela Lillicrap.
The recent HIA-CoreLogic Residential Land Report provided updated information on sales activity in 46 markets across Australia, including the six state capital cities.
“While land prices have come down during 2019, over the last decade the price of new residential land per square metre in Sydney has doubled and more than doubled in Melbourne,” added Ms Lillicrap.
“A shortage of land is one of the factors that has driven home prices to increase over the past decade. The process of making land ‘shovel ready’ can often last a decade, therefore, responding to shortages cannot be met with increased supply in the short term. An adequate supply of land is required to avoid a deterioration in affordability.
“If the Australian dream of home ownership is to remain achievable, governments must work with industry to ensure that there is an appropriate supply of land. Improving the monitoring and reporting of the land supply pipeline will enable government and industry to make well informed decisions,” concluded Ms Lillicrap.
CoreLogic’s head of research, Tim Lawless, highlighted that land values had slumped across the most expensive markets over the past year. 
“The rate per square metre of vacant land in Sydney was down 12.6% over the 12 months ending June 2019 and Melbourne land prices were down 7.6%. 
Prices were also down in Adelaide (-12.0%) and Brisbane (-4.6%). 
Lower land prices should provide further support for housing affordability in these markets, however in Hobart and Perth land prices were higher.
“Hobart land prices have rocketed 20.3% higher over the year ending June reflecting tight supply against a backdrop of strong demand. 
"Despite the significant rise, Hobart is still showing the lowest median land price amongst the capital cities at $180,000 and the largest median land area at 624sqm.”
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Sydney vacant land rate per square metre down 12.6% annually: HIA

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The 410 sqm Surrey Hills block, occupied by a scout hall, failed to raise any interest at its weekend auction.
<a href="https://fletchers.net.au/24154/7-robinson-road-surrey-hills" target="_blank">The 7 Robinson Road holding</a> has been listed now at $1.38 million.
It had been listed by David Taylor and John Taylor from Fletchers Canterbury with a price guide of $1.3 million to $1.4 million. 
Scouts Victoria bought the property in 1955 and built the hall. 
The wide frontage block at 7 Robinson Road offers the potential to create a low maintenance home on its own title. 
<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/2019/6/13/scout%20hall%202.jpg" alt="">
Situated between Chatham and Surrey Hills Stations, it's within walking distance to Surrey Hills Village shops, supermarket, cafes plus nearby Canterbury Sports Ground and Chatham Primary School. 
 
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1st Boroondara Scout Hall, Surrey Hills fails to sell

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EXPERT OBSERVER
As Melbourne’s record population growth continues unabated, so too does a property revolution in the urban-regional perimeter surrounding the city.
Recent years has seen Victoria’s regional and peri-urban markets evolve to be increasingly similar to the rest of metropolitan Melbourne, with trends observed in the city becoming more pronounced on its perimeter as a range of factors reshape market relationships.
These include population growth, declines in affordability, changing patterns of employment, new infrastructure and the level of maturity (or how established a market is).
By comparing price and land size trends in metropolitan Melbourne and several key regional and peri-urban markets (including those in the Greater Geelong, Surf Coast, Moorabool and Baw Baw municipalities), we can identify current and emerging trends that can provide developers and property buyers with superior insights.
Recent data suggests that over the past few years there has been a significant change in the relativities between prices and sizes across different land markets with prices generally rising faster in metropolitan and large regional cities, while reductions in land sizes generally were greater in peri-urban markets.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/6/20/HUME1.jpg" target="_blank">click here</a>.
<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/2019/6/20/HUME1.jpg" alt="">
For example, median prices rose strongly in metropolitan Melbourne (57 per cent) and Greater Geelong (51 per cent) over the period 2014 to 2019.
In Geelong’s case (and the Surf Coast to an extent), strong price growth has been driven by increased integration with Melbourne’s western region (especially the Wyndham and Melton municipalities) and significant improvements in transport connectivity between Melbourne and Geelong.
Peri-urban and regional locations such as the Moorabool (mostly Bacchus Marsh) and Baw Baw (mostly Warragul) municipalities experienced lower, but still significant, price growth of 38 per cent and 34 per cent respectively relative to metropolitan. 
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/6/20/HUME2.jpg" target="_blank">click here</a>.
<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/2019/6/20/HUME2.jpg" alt="">
Price growth for peri-urban areas was also higher than traditionally has been the case due primarily to these locations’ increased integration with metropolitan Melbourne and higher population growth.
Although forecasting prices is difficult, we could expect price growth of at least this magnitude, if not higher, in the future as these locations becoming increasingly integrated with Melbourne.
In markets with generally larger lots (especially peri-urban areas which are also less mature and established), the adjustment process has been via a relatively sharper reduction in land sizes (compared to prices).
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/6/20/HUME3.jpg" target="_blank">click here</a>.
<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/2019/6/20/HUME3.jpg" alt="">
For example, the median lot size declined by 18 per cent in Moorabool and 19 per cent in Baw Baw from 2014 to 2019.  This was greater than the decline observed in metropolitan Melbourne, Greater Geelong and the Surf Coast.
Looking ahead, we expect to see further reductions in lot sizes across all markets, with peri-urban markets potentially seeing the greatest decrease as markets converge.
However, while the fundamentals are in place for continued land price increases in key metropolitan and regional city markets over the medium to long-term, peri-urban markets might also exhibit greater price growth than they have in past as they converge with other markets.
George Bougias is the national head of research at Oliver Hume.
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The regional and peri-urban revolution in Victorian land markets: Oliver Hume

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A 410 square metre Surrey Hills block, occupied by a scout hall, will go under the hammer on June 22.
It has been listed by David Taylor and John Taylor from Fletchers Canterbury with a price guide of $1.3 million to $1.4 million. 
The wide frontage block at 7 Robinson Road offers the potential to create a low maintenance home on its own title. 
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Situated between Chatham and Surrey Hills Stations, it's within walking distance to Surrey Hills Village shops, supermarket, cafes plus nearby Canterbury Sports Ground and Chatham Primary School. 
Scouts Victoria bought the property in 1955 and built the hall. 
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Surrey Hills scout hall to go under the hammer

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A 100-acre parcel of waterfront land on the edge of Tea Gardens with views over Port Stephens has been listed for sale.
It has been offered by Ivy Stevenson and Bryan Stevenson from Century 21.
Boasting just over 1 kilometre of water frontage, it features direct access to the waters of Port Stephens.
<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/2018/11/6/tea%20gardens%203.jpg" alt="">
Situated at<a href="https://www.propertyobserver.com.au/https://www.century21.com.au/property/residential/buy/nsw/2324/tea-gardens/445766" target="_blank"> Lot 42 Bayview Road, Tea Gardens,</a> the land is within minutes of the towns of Tea Gardens and Hawks Nest.
Presently this land is unimproved, so will require some clearing and access roads.
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Tea Gardens, Port Stephens waterfront property on the market 

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AVID Property Group (AVID) has announced a new $25 million, 205-lot residential project in Melbourne's south-eastern growth suburb of Officer. 
The site will be AVID’s third residential community in Victoria, with the developer currently constructing the $1 billion, 1,658-lot master-planned community in Bloomdale, Diggers Rest and the 619-lot residential community Savana in Wyndham Vale. 
AVID Victoria general manager Peter Vlitas (below with development manager Chris Ravat) said the acquisition forms part of AVID’s ambitious national growth strategy, supporting its goal to triple the company’s size and value by 2021. 
“AVID’s new Officer development will be our next project in the highly sought-after south-eastern growth corridor, just 50kms from Melbourne’s CBD,” Vlitas said. 
“With all planning permits already in place, construction is set to commence quite quickly in early 2019.
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“Officer is well-placed to meet demand for the booming population of both Melbourne and nearby Dandenong CBD, creating more job opportunities and a wide range of housing options in the area.” 
“This acquisition is just another step forward for AVID, playing towards our company ambition to expand our residential portfolio and geographic footprint across the eastern seaboard,” he said. 
The Officer development will offer buyers a choice in lot sizes ranging from 200m2 to 550m2 and will feature a prominent one-hectare central park. 
“The south-east corridor has long been a very popular location for families to move to, offering growth, education and employment opportunities all located within a really beautiful location,” Vlitas said. 
“With four established schools located within a 100-metre radius and a further four in the surrounding vicinity, plus the metro train station and future Officer Town Centre only minutes from the site, Officer is an attractive choice for buyers looking for a good selection of facilities and local amenities.” 
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AVID Property Group announce new $25 million Melbourne residential project

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A block of land that contains an 1850 homestead/shed at Tea Tree, Tasmania has been sold for $175,000.
Located at <a href="https://www.realestate.com.au/sold/property-residential+land-tas-tea+tree-201690074" target="_blank">233 Grices Road</a>, Langtoft is a 10 hectare block of land with the majority being semi-improved pasture subdivided into two paddocks.
The land features a fire damaged 1850s sandstone homestead along with a shingle roofed slab hut originally used as a forge, and large elms from the same era.
Tea Tree is above the average demand for properties in Tasmania with a higher average of people visiting the area than the state average.
It has been marketed as of interest to those seeking a rural lifestyle within 30 minutes of both eastern and western shores of Hobart.
The property was offered through Knight Frank agent Michael Crisp.
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Tea Tree land with 1850 homestead/shed sold for $175,000

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A residential development space in the Sunshine Coast region of Palmwoods has been sold to a local developer.
The 18 hectare block sold for $4.4 million to Sunshine Beach Constructions.
The 50 Abbots Road, Palmwoods property has been approved for 109 lots with a rate of $40,367 per lot.
The sale was handled by Colliers International’s Bayden Dodds and Savills’ Dustin Welch,
Dodds said the strength of the Sunshine Coast residential market contributed to interest from a mix of local, south-east Queensland and interstate developers.
"This is due to new land releases selling out in record time as builders, owner occupiers and investors seek to secure suitable housing lots," said Dodds.
"The Sunshine Coast market has trended towards smaller lot sizes in recent times and the large residential housing lots are becoming a rare commodity.
"This was a key attractor for developers with the average lot size of 725 square metres seen as a real advantage in the market."
 
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