Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<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/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<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/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Residential Market

<html><body>
<img src="/images/2015/11/NEW_RAMS_LOGO.jpg" alt="">
Saving for a deposit can be tough but there are ways you could fast-track your entry into the market.
Most lenders will only extend finance up to 95% of the property’s value, so you’ll usually need a deposit of at least 5%. If you want to avoid paying lender’s mortgage insurance, you may need to save at least 20% of the property’s value.
You may also have to budget for extra expenses such as stamp duty, transaction costs, conveyancing fees and removalist costs. 
A disciplined approach to saving, can help you get there but you may be able to get into the market sooner.
ASK YOUR PARENTS OR SIBLINGS - If your parents are willing to help, you could ask them to stand as guarantors for the loan. This often allows you to get a mortgage with a smaller deposit, or no deposit at all. The guarantee can be limited to a certain amount and could be removed after you’ve built sufficient equity in your home. As guarantors, your parents are using their assets to back you so make sure you all fully understand the potential consequences.
BUY WITH A FRIEND OR RELATIVE - This could cut down on the amount you need to save as you’ll both be contributing to the purchase. You’ll each own part of the property and share in the mortgage repayments. Be sure to seek legal advice to avoid potential disputes down the track.
BUILD A DUPLEX – Take buying with someone else to the next level and build together. By building a duplex and then subdividing the land, you each could end up with your own home at potentially a lower cost. There are lots of factors to consider if you’re thinking of taking this approach. Check council zoning and budget building costs carefully. There will be costs including the subdivision, survey expenses, legal and application fees, but you may be eligible for a stamp duty concession.
BUY OFF THE PLAN – Governments are waiving stamp duty on newly built homes to encourage development. Buying off the plan also allows you to buy now and pay later. You’ll have to put down a deposit on the property when you sign to buy but settlement doesn’t occur until after your home is completed, giving you longer to save.
Quick tip: What works for you will depend on your own personal circumstances. Consider seeking financial and legal advice.
 
TO FIND OUT HOW RAMS CAN HELP EASE YOU THROUGH THE PROCESS, GET IN TOUCH WITH YOUR LOCAL RAMS HOME LOAN EXPERT OR DROP IN FOR YOUR <a href="https://ad.doubleclick.net/ddm/clk/297184793;124284611;o" target="_blank">FREE FIRST HOME BUYERS’ GUIDE</a>.
For more great property advice and tips on buying your first home from RAMS subscribe to <a href="https://ad.doubleclick.net/ddm/clk/297184564;124284612;l" target="_blank">The Great Australian Dream property series</a>.
For your free Property Observer eBook from RAMS, 12 tips for first-time buyers, covering everything you need to know when it comes to purchasing property, click here.
Disclaimer: Information in this material is general and does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. You should also obtain independent professional advice relevant to your financial circumstances.
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jchancellor-FAypfDUnLy

Buying a first home sooner

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Melbourne’s spring market bonanza on October 24-25 is on track to challenge an auction record when 1,683 homes go under the hammer.
The majority of the auctions – 1,550 - are on Saturday.
The weekend is expected to go close to, and possibly exceed, the all-time auction record for a Melbourne weekend. The record was set on the corresponding pre-Melbourne Cup weekend last year (October 25-26) when 1,682 auctions were held.
While the number might go close to the all-time weekend auction record, it may fall just shy of the Saturday record - on October 25 last year - when more than 1,600 auctions were held.
“The high auction levels reflect the strength of the local market and continuing buyer demand for homes across the city,” REIV chief executive officer Enzo Raimondo said. 
“This level of auction activity cements the city’s reputation as Australia’s auction capital.” 
Raimondo said the strong spring season began in mid-August this year, several weeks earlier than last year, and has remained high since then.
Scheduled auctions for the Melbourne Cup weekend are the highest on record, up more than 100 over the same period last year.
The following weekend of November 7- 8 is also gearing up to be a Super Saturday.
Raimondo said these solid auction numbers follow last weekend’s strong results which had 1,080 auctions with a clearance rate of 74 per cent.
Auctions are also gaining in popularity in areas traditionally the domain of private sale. In Melbourne’s outer suburbs, numbers are up 19 per cent on the same period last year, while auction sales are up 37 per cent.
“Melbourne has some of the highest auction numbers not only in Australia, but worldwide. In the current buoyant housing market, buyer demand is encouraging more vendors to sell their home under the hammer,” Raimondo said.
 Melbourne Auction Wrap – For 24/25 October 2015 
This weekend: Total number of auctions this weekend: 1,600+ auctions
This year: Total number of auctions (to 18 Oct): 31,679 @ 77% clearance rate
Previous record auction weekend: 1,682 auctions on week ending 25-26 Oct 2015
Top auction suburbs in Melbourne - this weekend:
<table class="t1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td class="td1" valign="middle">
Suburb
</td>
<td class="td1" valign="middle">
Number of Auctions
</td>
<td class="td1" valign="middle">
 
</td>
<td class="td1" valign="middle">
 
</td>
</tr>
<tr>
<td class="td1" valign="middle">
GLEN WAVERLEY
</td>
<td class="td1" colspan="3" valign="middle">
30
</td>
</tr>
<tr>
<td class="td1" valign="middle">
MOUNT WAVERLEY
</td>
<td class="td1" colspan="3" valign="middle">
27
</td>
</tr>
<tr>
<td class="td1" valign="middle">
GLEN IRIS
</td>
<td class="td1" colspan="3" valign="middle">
24
</td>
</tr>
<tr>
<td class="td1" valign="middle">
RESERVOIR
</td>
<td class="td1" colspan="3" valign="middle">
24
</td>
</tr>
<tr>
<td class="td1" valign="middle">
HAWTHORN
</td>
<td class="td1" colspan="3" valign="middle">
22
</td>
</tr>
<tr>
<td class="td1" valign="middle">
SOUTH YARRA
</td>
<td class="td1" colspan="3" valign="middle">
22
</td>
</tr>
<tr>
<td class="td1" valign="middle">
PRAHRAN
</td>
<td class="td1" colspan="3" valign="middle">
22
</td>
</tr>
<tr>
<td class="td1" valign="middle">
ELWOOD
</td>
<td class="td1" colspan="3" valign="middle">
20
</td>
</tr>
<tr>
<td class="td1" valign="middle">
ST KILDA
</td>
<td class="td1" colspan="3" valign="middle">
20
</td>
</tr>
<tr>
<td class="td1" valign="middle">
BENTLEIGH EAST
</td>
<td class="td1" colspan="3" valign="middle">
19
</td>
</tr>
<tr>
<td class="td1" valign="middle">
BALWYN NORTH
</td>
<td class="td1" colspan="3" valign="middle">
19
</td>
</tr>
<tr>
<td class="td1" valign="middle">
HAWTHORN EAST
</td>
<td class="td1" colspan="3" valign="middle">
19
</td>
</tr>
<tr>
<td class="td1" valign="middle">
CAMBERWELL
</td>
<td class="td1" colspan="3" valign="middle">
19
</td>
</tr>
<tr>
<td class="td1" valign="middle">
DONCASTER EAST
</td>
<td class="td1" colspan="3" valign="middle">
18
</td>
</tr>
<tr>
<td class="td1" valign="middle">
PRESTON
</td>
<td class="td1" colspan="3" valign="middle">
18
</td>
</tr>
<tr>
<td class="td1" valign="middle">
ST KILDA EAST
</td>
<td class="td1" colspan="3" valign="middle">
17
</td>
</tr>
<tr>
<td class="td1" valign="middle">
BRIGHTON
</td>
<td class="td1" colspan="3" valign="middle">
17
</td>
</tr>
<tr>
<td class="td1" valign="middle">
NORTHCOTE
</td>
<td class="td1" colspan="3" valign="middle">
16
</td>
</tr>
<tr>
<td class="td1" valign="middle">
KEW
</td>
<td class="td1" colspan="3" valign="middle">
16
</td>
</tr>
<tr>
<td class="td1" valign="middle">
RICHMOND
</td>
<td class="td1" colspan="3" valign="middle">
16
</td>
</tr>
<tr>
<td class="td1" valign="middle">
 
</td>
<td class="td1" colspan="3" valign="middle">
 
</td>
</tr>
</tbody></table>
 
Source: <a href="https://www.reiv.com.au/" target="_blank">REIV</a>
 
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j.ballantyne1990-6AQqhLzZaK

Photo finish in Melbourne's bonanza auction weekend: all time REIV record looms

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Gold Coast sellers in the 2015 June quarter lost $35 million when properties were resold at losses, according to the latest CoreLogic RP Data pain &amp; gain report. Around 19% of sellers on the Gold Coast went backwards with their investment.
Across Brisbane, the proportion of loss-making resales has trended lower over the past few years and was recorded at 9.8% over the June 2015 quarter, up from 9.3% the previous quarter but lower than the 10.9% a year earlier.
Across South-East Queensland, the Toowoomba (3.0%), Brisbane (6.3%) and Redland (6.8%) council area have significantly lower proportions of loss-making sales compared to all other regions where the proportion of loss-making resales was in double digits.
The council areas with the highest proportion of loss-making resales were Somerset (26.1%), Gold Coast (19.9%) Scenic Rim and Lockyer Valley (both 19.4%).
<a href="/images/2015/10/19/Screen%20Shot%202015-10-19%20at%203.01.07%20PM.png" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
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$35 million lost by Queensand Gold Coast sellers: CoreLogic RP Data Pain & Gain

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Melbourne property developer Mohan Du has won the Australian Property Institute’s Young Achiever of the Year award for Victoria.
The founder and managing director of Capital Alliance Investment Group has a seven-year pipeline of projects worth nearly $1.2 billion.
And Mohan is 28 years old. 
Du's notable achievements last year included the near completion of M Docklands – a 19-level mixed-use tower featuring the Docklands’ first five-star hotel.
“Winning this award puts the icing on the cake on what has been a very enjoyable and successful year for Capital Alliance," Du said.
“As a passionate Melburnian, my vision is to turn the world’s most liveable city into an international beacon for beautifully designed, innovative, supremely liveable and workable landmarks."
API Victoria president Aldo Galante said the judges recognised Mohan Du’s considerable drive, vision, work ethic and commendable community mindedness.
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Mohan Du wins Australian Property Institute achiever award

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Seacrest, a designer home at 44 Idaline Street in Sydney's Collaroy Plateau is up for grabs at an asking price of $2.25 million plus. 
Built over 324 square metres, Seacrest has three levels and offers ocean <a href="https://www.realestate.com.au/property-house-nsw-collaroy+plateau-121012666" target="_blank">views over Collaroy’s coastline</a>.
The luxury residence has four bedrooms, a Caeserstone gas kitchen flowing to dining and living and an internal lift from the basement garage to all the floors.
It also has a terraced rear garden, suitable for child play and entertaining.
The basement garage can fit four cars. It is currently used as a work space and home gym. 
The abode is owned by Patricia Westall, a conveyancing practitioner and her partner.
The listing agents are Deborah Cullen and Richard Sholl of Unique Estates.
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Designer home Seacrest at Collaroy Plateau for sale 

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The Toorak property, 16 St Georges Road, one of Melbourne’s most significant homes, has been demolished after being sold through Kay &amp; Burton in 2013.
Idylwilde, the historic 1913 Edwardian villa with art nouveau influences, aka Ulva, was bulldozed by the Chinese tycoon Wang Hua, from the Jeshing Group and his wife, Xiao "Kylie" Yan Bao who <a href="/news/offshore-buyer-secures-16-st-georges-road-toorak-from-peter-devitt-in-circa-20-million-sale">bought for $18.58 million </a>from LU Simon boss Peter Devitt with intentions to demolish.
It sits on just about an acre, the home of LU Simon building company director Peter Devitt and his wife Jo and their family for the 16 years.
It was marketed internationally via a short film produced by Golden Eye Media. 
The St Georges Road property is a 4257 square metre block with what was a highly regarded art nouveau villa. 
<a href="https://www.propertyobserver.com.au/images/stories/2013/09/23/toorak-sept-23-floorplan-big.jpg" target="_blank">Click to enlarge</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/stories/2013/09/23/toorak-sept-23-floorplan-small.jpg">
 
<a href="/news/chinese-tycoons-heritage-edwardian-toorak-villa-demolition-plans-thwarted">The mainland Chinese buyer</a> flew into Melbourne on their private jet to put the signature on the sales contract.
<a href="/news/chinese-tycoons-heritage-edwardian-toorak-villa-demolition-plans-thwarted"> </a>
 
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Idylwilde, 16 St Georges Road, Toorak villa demolished

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Melbourne buyers advocate Richard Wakelin says the CBD could stand for Could Be Dangerous - especially when buying highrise, non-descript, cookie-cutter units.
That's clearly what the CBD in central business district residential property now stands for in the eyes of the NAB's risk managers.
Our five major CBDs – Sydney, Melbourne, Brisbane, Perth and Adelaide – are now "red-flagged" by our fourth-largest bank, which now requires a 20% deposit from new borrowers buying there, Richard Wakelin wrote recently in the Australian Financial Review.
He added that what was especially telling about their list was the inclusion of Brisbane, Adelaide and Perth.
"These are CBDs where capital growth hasn't been strong in recent times," he said.
"Indeed, in its 20-per-cent-deposit-please list that included 43 postcodes, the only inclusions outside of NSW and Victoria were postcodes 4000, 5000 and 6000."
The bank obviously sees a heightened risk of price falls and mortgage arrears in these areas, but it is being vague about its reasons.
"Some of the factors that we take into consideration include investor growth levels, property price growth, rental yield and the regulatory environment," is how an NAB spokesperson described the lender's criteria in The Australian Financial Review last week.
Wakelin says developers are pumping out residential towers at a rate far in excess of genuine demand with the credit tightening too late to avert the looming crisis for high-rise.
"It was astounding as you would have thought they would have learnt the lessons of previous boom-bust episodes such as we saw in Melbourne's Docklands and the Gold Coast," Richard Wakelin, director of Wakelin Property Advisory.
 
Paul Nugent of Wakelin Property Advisory and Stuart Wemyss of ProSolution Private Clients will discuss strategies for young adults to enter the property market in an upcoming webinar.
The one-hour webinar starts at 12.30pm on Thursday 29 October. You can register <a href="https://wakelin.com.au/fpb_webinar" target="_blank">here</a>.
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The dangerous CBD residential markets: Richard Wakelin 

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Mandurah vendors lost $6 million plus in recent property resales, with Stirling ranking next as Perth's biggest loss making locations, according to the recent CoreLogic RP Data Pain &amp; Gain report.
Overall around 8.6% of resold homes across Perth in the June 2015 quarter were sold for less than the previous purchase price compared to 6.7% the previous quarter and 4.2% a year earlier.
The 8.6% of resales at a loss ranks as the highest for the capital city since January 2013.
Peppermint Grove council areas recorded no resales at a loss over the quarter, while Claremont (3.3%) and Canning (3.5%) also had a low proportion.
The highest proportion of loss-making resales occurred in the Perth (27.5%), Mandurah (21.4%) and Murray (18.9%) council areas. 
<a href="/images/2015/10/19/Screen%20Shot%202015-10-19%20at%203.08.26%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/19/Screen%20Shot%202015-10-19%20at%203.08.26%20PM.png" alt="">
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Mandurah and Stirling rank as Perth's biggest loss making locations: CoreLogic RP Data Pain & Gain

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The latest Australian Property Monitors (APM) days on market heat chart indicates the Brisbane and Perth private treaty market slowed in September.
Sydney slowed, but Perth takes around three times longer to now secured a sale.
September property market offerings had a mixed trend across the country as to the required discounting before offerings were sold by vendors.
Sydney property vendors needed to knock 5% from asking prices with Perth vendors needing a 7.1% downwards adjustment. 
 
<a href="/images/2015/10/12/Days_on_market.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/12/Days_on_market.jpg" alt="">
According to APM, Sydney property vendors need to <a href="/news/sydney-property-vendors-needing-to-knock-5-from-asking-prices-apm-heat-chart">knock 5% from their asking price</a>.
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Perth now the slowest property sales market in country: APM heat chart

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House rents have increased 2.1% across Melbourne for the year with houses in the Mornington Peninsula and Bayside making up the majority of the top five regions for rental increases throughout the year, according to CoreLogic RP Data's September Monthly Rental Report.
CoreLogic RP Data senior research analyst Cameron Kusher said at the same time that Mornington Peninsula suburbs feature prominently on the list this area of Melbourne has been one of the weakest performing regions for value growth over recent years. 
 
<a href="/images/2015/10/19/melb.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/19/melb.jpg" alt="" width="591" height="140">
 
The median house price for a home in <a href="/news">Black Rock is $1,585,000</a>, according to CoreLogic RP Data.
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