Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

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

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

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North-facing Swan River views drive demand at Rivière Residences in Applecross

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

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

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

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

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

Residential Sales

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Elwood apartments topped and tailed REIV weekly auction and private treaty results.
The $235,000 Elwood flat at 6/6 Cyril Street (above) had last sold in 2008 at $195,000 and $220,000 in 2001.
It had been a $230 weekly rental when advertised earlier this year, reflecting a five percent rental yield.
Woodards Real Estate had been quoting $195,000 to $210,000 for the 1970s one bedder.
<a href="/images/2016/04/4/Screen%20Shot%202016-04-04%20at%2012.57.47%20PM.png" target="_blank">Click to enlarge</a>
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jchancellor-FAypfDUnLy

Elwood apartments top and tail REIV results

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SPONSORED POST
The property landscape in Victoria is set for an overhaul with new laws to restrict underquoting practices. New regulations imposed by the Victorian Government intend to protect buyers and create a more transparent property market.
The new regulations require agents to be forthcoming with realistic estimates by providing at least three comparable sales to interested parties. The comparable sales reports will need to be for properties recently sold within the same area and demonstrate a likeness to their current listing.
Along with the new guidelines come harsher penalties for agents who disregard the need for quoting accuracy. A financial penalty of $28,000, double the existing fine, will be imposed, as well as forfeiture of any commission obtained from the sale.
With underquoting the cause of distress for many consumers, Victorian buyer agent <a href="https://wiserealestateadvice.com.au" target="_blank">WiseRealestateAdvice.com.au</a> Mark Ribarsky says that this is “a win for his clients and prospective purchasers everywhere”.
The changes will come as a relief to many people in the areas most affected by over quoting in recent years. Buyers in Box Hill, Vermont and Mount Waverly have faced underquoting resulting in sale prices of up to 33 percent above quoted estimates in recent years. 
The new mandates will provide buyers with a more realistic view of the houses they can afford to direct their time and energy into properties within their reach.
For more information, <a href="https://wiserealestateadvice.com.au" target="_blank">click here</a>.
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po-LsXgBTHBmX

Underquoting overhaul in Victoria

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As Ray White continues its journey to be the leader in customer excellence, they have not forgotten one of their core customers - family pets - with the launch of a brand new specialist program featuring qualified agents selling homes to our furry friends.
It comes after a first for the industry saw Ray White agent Evan Williams sell what has been dubbed a ‘poochy palace’ in <a href="https://www.youtube.com/watch?v=Hggp8qeCn9k" target="_blank">Sydney’s north for $1.25 million</a>. 
The new offering will work in conjunction with <a href="https://docs.google.com/forms/d/1T40RXW1oy0Sm-He6sqCqMU5PLeuGKDMxL89_Sx6o-HQ/viewform" target="_blank">Ray White Concierge’s pet care and transport service</a> - where Ray White’s human customers will be entitled to exclusive benefits to ensure their pets are comfortable and well looked after during their move.
The sale of the poochy palace came about when the new owners of the property decided they were not utilising the space because they had no pets of their own. 
They are taking advantage of a spike in land value in the north - where a car space was recently sold for $150,000.
Ray White agent Evan Williams said the demand has been high.
“There has been an incredible amount of interest in the property. It’s a market that has never before been given a second thought, but it was an obvious decision for Ray White to move into this space and take care of our four legged friends.”
“The new owners are thrilled to finally get their paws on the property ladder.”
Evan says that for those who missed out this time around, there will be plenty of stock on the market.
Sounds like an April Fools stunt!
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Ray White enters lucrative doggie real estate market with the sale of very first prestige poochy palace for $1.25 million

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The Year of the Monkey offers great opportunities for Chinese investors who are looking to buy property in Australia. 
The benefits to investing in Australia’s housing market include the country’s healthy and comfortable lifestyle, the property market’s relative stability, and regulations that protect investors’ ownership rights. 
Australian rental properties often deliver yields in the range of 3 percent to 5 percent, plus the potential for strong capital gains over the long term. 
Housing values in Australia’s major capitals have been rising over the past few years, driven by low interest rates and high investor demand. 
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Simply <a href="https://www.propertyobserver.com.au/images/2016/chinese_ebook/english_guide.pdf" target="_blank">click here</a> to get your copy of Property Observer's eBook, Buying property in Australia: A guide for Chinese investors.
{rsform 54}
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Buying property in Australia: A guide for Chinese investors

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The top sale of the week was a five bedroom beachside home at Bronte in Sydney's Eastern Suburbs, according to CoreLogic RP Data. 
The property, 1 Bronte Marine Drive, Bronte (above) sold for $8.5 million through Laing + Simmons  Double Bay 
Top ten sales
1 Bronte Marine Drive, Bronte, NSW  5 bed, 4 bath, 2 car house  $8,500,000  Laing + Simmons  Double Bay 
6 March Street, Bellevue Hill, NSW  4 bed, 1 bath, 2 car house  $5,265,000  Sotheby’s International Realty  Sydney 
602/14 Macleay Street,  Elizabeth Bay, NSW  3 bed, 2 bath, 2 car unit  $4,900,000 Richardson &amp; Wrench Elizabeth Bay/Potts Point 
22b Haughton Street,  Linley Point, NSW  4 bed, 3 bath, 2 car house  $4,350,000  John Ward Realty  Hunters Hill 
44 Wallis Parade,  North Bondi, NSW  4 bed, 2 bath, 4 car house  $4,275,000  Express Realty/  Raine &amp; Horne 
8 Kirkoswald Avenue,  Mosman, NSW  4 bed, 2 bath, 1 car house  $3,920,000  David Murphy  Real Estate 
53a Carlotta Road,  Double Bay, NSW  6 bed, 4 bath, 2 car house  $3,875,000  McGrath Estate Agents 
24 Northland Road,  Bellevue Hill, NSW  4 bed, 2 bath, 2 car house  $3,675,000  Goodyer Real Estate 
2/16 Thornton Street,  Darling Point, NSW  4 bed, 3 bath, 3 car house  $3,500,000  Sotheby’s International Realty Sydney 
10 Ocean Grove,  Collaroy, NSW  5 bed, 3 bath, 2 car house  $3,375,000  First National Caputo  Dee Why
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mick.cee-iDmgDDAmu8

Bronte beach pad leads CoreLogic RP Data's top ten sales

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Online takeaway service Menulog co-founder Dan Katz and his wife Nicole sold their Maroubra home pre-auction as they plan their upgrade to a $20 million Vaucluse home.
Set on 550 square metres on The Corso, most of the Maroubra buyer interest came from up-sizers from Bondi and Bronte. The three level home, with ocean glimpses, came with basement level car parking.
The five-bedroom home with pool last traded in 2008 for $2.57 million, with Jason Black, of Black Lifestyle Property, expecting the offering this time to attract interest around $3.6 million to $3.7 million.
The Katz family are off to the Vaucluse harbourfront home of finance entrepreneur Clive Isenberg and his wife, Jennifer which sold earlier this year through LJ Hooker Double Bay agent Bill Malouf.
The three-storey trophy home sits on the Parsley Bay battleaxe block bought in 2002 for $9 million from retired businessman Ed Harris.
It was last May when UK-based takeaway food delivery platform Just Eat bought out rival Menulog for $855 million when Menulog had 5500 restaurants and 1.4 million active customers.
It was a windfall opportunity for Katz and his Menulog co-founder Leon Kamenev and the other shareholders, including Catch Group’s Gabby and Hezi Leibovich, along with EatNow founder Matt Dyer who merged his startup with Menulog in February last year.
Katz and Kamenev were behind the successful accommodation website HotelClub, which was sold to the US company Cendant in 2000. 
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Menulog co-founder Dan Katz upgrades to Vaucluse

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Charter Keck Cramer executive chairman Scott Keck says the housing market is "fully priced" but property values are likely to drift sideways over the next few years rather than crash.
Keck told clients that while the housing market was "certainly inflated [though] perhaps not fully inflated to the extreme" domestic conditions were subsiding with the market having just recently drifted off its peak.
"We think that it is unlikely that there will be a significant increase in commercial interest rates or unemployment and thus these internal factors are not a danger. Left alone there seems to be no internal or domestic pending or immediate threat that would cause a major correction." he said.
But, he did acknowledge that at inflated levels, property along with other asset classes would be vulnerable to a major international event like an economic meltdown in China or another GFC.
"So, in summary, does Charter think that there is a bubble which infers an event that is about to collapse? Our answer is NO," he wrote.
Speaking to The Australian Financial Review, Mr Keck said housing values were supported by strong population growth and immigration, major demographic changes and a "huge depth of demand" from those looking to buy at lower rungs of the property ladder.
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Scott Keck says there's no housing bubble

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Illawarra in NSW has seen reasonable growth in the past 12 to 18 months in all sectors and there is a sense in the market that it will continue, particularly in the below $600,000 section of the market, according to recent sales and agents’ advice, say Herron Todd White in their March property clock.
Affordable housing has had a blip from the lows of late 2011 to 2012 but there are few suburbs in the general Illawarra area where it is possible to get something in the sub $400,000 range.
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In the south, across the Shellharbour LGA there are some older houses under $450,000 but these are getting harder to come by as well. This is a big change from three years back when properties could be purchased for under $300,000. The postcode to look for here is 2529.
As usual it is always the lower end of the market that moves first and sees the better percentage increase in value. Never forget the low end of a market in the better located suburbs. You will generally be a clear winner when the whole market moves.
The mid range has remained strong during the past year and the $700,000 to $850,000 range has a bit more strength, depending on the suburb of course. This is the second home buyer’s sector and those who bought four years ago have seen some genuine increases, particularly around the northern beaches. Suburbs such as Figtree, Keiraville, Balgownie, Fairy Meadow, Corrimal, Woonona and Towradgi have experienced some good growth in values in this time. The postcode to look for here is 2519.
Above $900,000, the depth of buyers drops off, but there is still reasonable activity and some good strength. Over $1 million there are some good sales but it is generally thinly traded and tending to be harder to find bargains. The major influences in this sector are interstate investors and Sydney buyers looking for an upmarket house close to the beach but within commuting distance of Sydney. Bulli, Thirroul, Austinmer, Coledale and Stanwell Park are all attractive to this buyer sector.
Kiama and Minnamurra are also included in the southern parts of the region, with a good deal of holiday house buying pushing the market.
Let’s look at some of the good long term growth sectors in the Illawarra market.
In our view this lies in the lower ranges, affordable ($600,000 to 700,000) in a desirable location i.e. north or close to Wollongong CBD.
For units, we see CBD units close to the beach, university or hospital in the range of $350,000 to $450,000 as being a good bet for the future.
What offers the average buyer the best chance of growth over the medium term?
Pick up an older home in a good location....(close to Wollongong, Shellharbour or the beach) where the majority of the value is in the land... worst house in the best street etc. Don’t go for the new project home in a fringe location - remember that only the land increases over time, not the improvements – a tried and true adage in real estate. Forget about having all the mod cons when buying your first house – buy a shack on the best land you can. It will serve you well in the long term. Remember the 60/40 rule.
If someone called our office looking to spend a reasonable amount of money but didn’t want to sit on the property forever, we would direct them to inner suburbs close to employment centres, whether Wollongong, Shellharbour or Kiama LGAs.
The average buyer profile in this sector is mixed and includes investors and first home buyers, but increasingly we see small builders and amateur developers invading the market. 
Overall, the Illawarra property market has remained quite buoyant especially in the low and mid ranges, with the prestige markets tapering off. The outlook for the Illawarra property market appears to be in a steady but not spectacular growth mode. If interest rates rise there will be some fallout and values may ease. 
As an illustration, Property Observer found two examples of recent sales in the region:
 
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1. A four-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-berry-121385030" target="_blank">4 Womack Close Berry NSW 2535</a> (above) sold for $710,000 recently.
<img src="/images/2016/03/23/main-3.jpg" alt="" width="677" height="508">
2. A two-bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-fairy+meadow-121939174" target="_blank">3/138 Carters Lane Fairy Meadow NSW 2519</a> sold recently for $345,000.
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Illawarra likely to see growth in below $600,000 properties: HTW

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A clearance rate of 75 percent was recorded by the REIV this weekend compared to 69 percent last weekend and 76 percent this weekend last year.
There were 1476 auctions reported to the REIV, with 1113 selling and 363 being passed in, 157 of those on a vendor bid.
Melbourne’s south-eastern suburbs are dominating the auction market this weekend with more than 400 auctions scheduled. 
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Melbourne's 75 percent success rate: REIV

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The top sale of the week was a five bedroom, four bathroom home in Rose Bay with harbour views which sold for $6.3 million, according to CoreLogic RP Data.
The home, <a href="https://www.domain.com.au/1-cecil-road-rose-bay-nsw-2029-9450545" target="_blank">1 Cecil Road, Rose Bay</a> was sold through Laing + Simmons Double Bay/Novak Properties.
 
Top ten sales
1 Cecil Road, Rose Bay, NSW 5 bed, 4 bath, 6 car house, $6,300,000 Laing + Simmons Double Bay/Novak Properties 
9 South Street, Strathfield, NSW 7 bed, 6 bath, 4 car house, $5,710,000 Devine Real Estate 
24 Eastbourne Avenue, Clovelly, NSW 4 bed, 3 bath, 2 car house, $5,100,000 Phillips Pantzer Donnelley Woollahra 
244 Oberon Street, Coogee, NSW 5 bed, 3 bath, 1 car house, $4,650,000 Phillips Pantzer Donnelley Woollahra 
14 Agnes Street, Strathfield, NSW 5 bed, 5 bath, 2 car house, $4,600,000 Devine Real Estate 
36 Chilton Parade, Warrawee, NSW 5 bed, 4 bath, 2 car house, $4,525,000 LJ Hooker Wahroonga 
38 Billyard Avenue, Wahroonga, NSW 5 bed, 3 bath, 3 car house, $4,400,000 LJ Hooker Wahroonga 
28 Lisbon Street, Glen Waverley, Vic 6 bed, 6 bath, 3 car house, $4,080,000 Harcourts Judd White 
49 Rosserdale Crescent, Mount Eliza, Vic  4 bed, 3 bath, 3 car house, $4,000,000 Aqua Real Estate Mount Eliza 
75 Argyle Road,  Kew, Vic  5 bed, 4 bath, 6 car house, $3,850,000 Kay &amp; Burton Hawthorn
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