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4 Dalton Road is for sale for $1.25m in hot market Gisborne.

Victoria’s best suburbs to buy into — and the no-go zones — have been revealed in a new report.

Hotspotting’s latest Price Predictor Index names Clyde, in Melbourne’s outer southeast, and Macedon Ranges town Gisborne among Australia’s five best prospects for future price growth.

Buyers would also do well to target Altona North, Boronia, Brunswick East, Brunswick West, Flemington, Prahran, and the Bendigo, Geelong and Mornington Peninsula regions, according to report author Terry Ryder.

But they should steer clear of the “danger” CBD, Southbank and Docklands unit markets, where sales activity had “dropped markedly” and vacancy rates had “spiked”, he said.

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Jared Gresle and his partner, Aylin — pictured with children Alara, 5 and Jayden, 3 — have a home being built in hot spot Clyde. Picture: Nicki Connolly

The CBD, Docklands and Southbank have been dubbed “danger markets”. Picture: David Caird

Property pundits have conceded buying will be challenging during metropolitan Melbourne’s stage four COVID-19 lockdown, with the market having to operate entirely online. But they’re forecasting a spring revival for the market, should restrictions ease in September as planned.

Mr Ryder said parts of Melbourne had experienced declines in sales and prices during the pandemic, while others had “continued to show strength”.

He identified 32 suburbs with rising sales activity across the city — down from 69 in the previous quarter, but still much higher than the zero recorded during the 2019 downturn.

Seven were in the Mornington Peninsula: Blairgowrie, Hastings, McCrae, Rye, Safety Beach, Sorrento and Tootgarook.

1 Knott Street, Safety Beach is on the market asking $820,000-$880,000.

Mr Ryder said the area was one of several Melbourne fringe and regional Victoria markets to boom thanks to an “exodus to lifestyle locations within one to two hours of major cities” that had been exacerbated by COVID-19.

“That trend was underway, with people moving out of the big city to regional or fringe-city areas,” Mr Ryder said.

“It was driven by technology, which allows people to work remotely, and COVID-19 has enhanced that.

“Areas on fringes of metropolitan Melbourne have thrived as a result.”

Gisborne was another beneficiary, with “steady uplift in buying activity” driving the median house price up 6.4 per cent in the most recent quarter.

345 Lauriston Reservoir Road, Kyneton attracted an avalanche of Melbourne buyers before selling well in excess of $1.275m.

Keatings Woodend agent Sandi Barry-Mueller said the Macedon Ranges had experienced “an amazing surge of buyers” from Melbourne in the past three months, with COVID-19 making many city dwellers’ tree-change desires “absolutely clear”.

She predicted “a second surge” once Melburnians could move more freely post-stage four.

“With (people realising their) ability to work from home, why wouldn’t you live somewhere where there’s fresh air and a safe community?” she said.

62 Hartleigh Street, Clyde is on the market with a $600,000-$640,000 price guide.

Clyde’s popularity among first-home buyers had helped spur 12 per cent annual median house price growth, Mr Ryder said, noting there had “never been a better time for first-timers, with interest rates ultra low and government assistance at an all-time high”.

National Pacific Properties pinpointed Clyde as a hotspot way back in 2008, general manager Stephen Copland said.

Mr Copland said the developer had three projects in the area, including the well-advanced Hartleigh and Eliston estates, with a new train station and commitment from the local council to build key infrastructure furthering the suburb’s potential.

Jared Gresle, who with partner Aylin and children Alara and Jayden is building a home in Clyde, can’t wait to move there.

“It’s a great location and is very family orientated with lots of parks and walking tracks nearby,” Mr Gresle said.

The Hotspotting report also identified 27 Melbourne markets that represented “safety for investors”, among them Caulfield and Mount Evelyn, and 11 “declining” markets that should be avoided for now, including Melton South, South Yarra and St Albans.

-with Nathan Mawby

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samantha.landy@news.com.au

VICTORIA’S HOT SPOTS AND DANGER ZONES

Best bets for future growth: Altona North, Boronia, Brunswick East, Brunswick West, Clyde, Flemington, Gisborne, Prahran, and the Bendigo, Geelong and Mornington Peninsula regions

Safest markets: Caulfield, Chirnside Park, Kilsyth, Mitcham, Mooroolbark, Mount Evelyn, Parkdale, Thomastown

Declining markets: Burnside Heights, Dallas, Delahey, Doveton, Frankston North, Ivanhoe East, Melton South, South Yarra, St Albans, Williams Landing, Wyndham Vale

Danger markets: Melbourne CBD, Southbank, Docklands

Source: Hotspotting Price Predictor Index for winter 2020

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13 Stephen St, Paddington has plenty of room for the whole gang to spread out.

Some luxury homes are amazing works of art, but totally impractical for a family.

This three-level Paddington residence — up for auction on August 19 with a $6m guide via Richardson & Wrench Double Bay’s Marion Badenoch and Veronika Turnbull, is the best of both worlds: beautiful and also extremely family friendly.

No wonder more than 50 groups attended the home’s first open home.

With five bedrooms, four bathrooms and multiple entertainment areas, 13 Stephen Street has plenty of room for the whole gang to spread out.

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BYO pool table ….

And there’s even room for a grand piano!

And great for bringing in the shopping from the car — a door leads straight from the double garage into the kitchen.

The chef in the house will love the kitchen, too, which has recently been updated. A premium Ilve gas range with barbecue grille and two ovens was added.

The house, designed by renowned architect Brian Lynch, was built in 1985 but every surface was touched in its makeover.

The master suite opens to a balcony.

His and hers bathrooms have recently been updated.

With the older children moving to bedrooms on the lower level, one of which has an ensuite and the other close access to a bathroom, Mum and Dad decided to upgrade their bathrooms off the master suite.

There’s also a huge dressing room and a wide balcony overlooking the large garden, designed by Marcia Hoskins.

The back yard is a stunning outdoor entertainment space, perfect for barbecues. And the laundry in the nearby rumpus room has a sink, dishwasher and large fridge.

The kitchen, too, has been freshened up.

The rear courtyard is a great spot for family barbecues.

What’s particularly special about this home is the width — it’s 12m across. That’s extremely rare in Paddington.

The vendors, who now have an empty nest and are downsizing, love the light — there’s a large skylight in the living area.

The house is 12m wide, which is huge for a Paddington home.

There are multiple places to dine throughout the home.

They say: “The house has provided us with a beautiful family home that is so light and sunny with flexible spaces and a great place to entertain family and friends.”

They also adore the location. It’s close by Five Ways village, CYC, good schools and Rushcutters Bay Park.

The post Paddington house combines practicality with perfection appeared first on realestate.com.au.

The grand mansion at 1525 Riverdale Dr, Hope Island.

PRIVATE negotiations will begin this week on the sale of Harbour Point, the grand Hope Island mansion which was passed in at auction for on Saturday.

The sun was shining down on 1525 Riverdale Drive where more than 200 people turned out to see the fate of the largest land holding in the exclusive enclave.

Spectators and bidders gathered around the pool. Photo: Jason O’Brien

A strong local contingent gathered around the resort-style pool where auctioneer Colin Banks listed the virtues of the iconic estate.

“This is the largest block in the area,” he said.

“There are 11 entitlements, subject to council approval; it’s a whopping 4982 sqm property. The house is master built and has a 1815 sqm footprint.”

One of four registered bidders – all local – got the ball rolling at $4 million, with the auctioneer bidding $4.25m when no further offers were forthcoming.

“People have travelled over the border to be here — I can’t do anything to help you unless that hand goes up,” he beckoned.

Auctioneer Colin Banks passed the property in at $4.5 million. Photo: Jason O’Brien

The same bidder upped his original offer to $4.5m, still well short of the $9 million paid by the Chinese owners during the GFC in 2009.

“I know you’re going to test me here, but $4.5m isn’t going to buy it,” Mr Banks told the crowd.

“We’re not selling cattle or horses, we’re selling a mansion of a house.”

When the third and final call produced no further interest, the property was passed in and the auction wrapped up less than 10 minutes after it began.

The doors were open to the public for the first time in 18 years. Photo: Jason O’Brien

Professionals Vertullo Real Estate agent Mark Carew, who led the marketing campaign alongside Nikki Dunlop, said the result was a surprise given the level of interest.

“It’s been very positive,” he said.

“There are a number of interested parties who we will be speaking with this week.”

Mr Carew said the border closure and lockdowns prevented a serious Melbourne contender from attending the auction, which was conducted onsite only.

The campaign pivots to private treaty this week, with an anticipated price guide of $6.5m-$7.5m.

Gilt columns, decorative domes and ornate ballustrading dominate the interior.

The Mediterranean-style mansion was built by national car-warranty business owner Gary and Suzanne Chuck, who purchased the prime plot in 2001 for $2.1 million.

Long-time Riverdale Drive residents Daryl and Pam Sutherland, who attended the auction, recall dinner parties at the house during the Chuck’s tenure.

“There were chefs, waiters and sorbet between courses,” Mr Sutherland said.

“It was like being in a five-star hotel. Gary was a real character, it was always a lot of fun.”

Mr Sutherland said he was surprised to see the property passed in.

“I really thought the bidding would have started at $5m or $6m,” he said.

“I thought a wealthy celebrity might have bought it, like maybe Russell Crowe and his football team.”

The post Surprise result as mega mansion goes under the hammer appeared first on realestate.com.au.

Terrick Terrick Station in Blackall sold for $40m. Image supplied.

RECORD beef prices, low interest rates and rising land values are driving demand for rural properties as buyers seek a lifestyle change and a “safe haven” investment in the new COVID world.

Despite some of the worst drought conditions in generations, the rains are back — and so is the money — in the Queensland bush, according to industry players.

If you thought Noosa’s prestige property market had produced some eyewatering sale prices of late, wait until you hear how much some rural properties have been fetching across the state.

Mantuan Downs, near Springsure, sold for $92.6m. Image supplied.

By far the biggest rural property transaction in Queensland in the past 12 months was the sale of a huge cattle breeding operation owned by Clark and Tait in the state’s west.

The 133,700ha property called Mantuan Downs, in Springsure, sold to the North Australian Pastoral Company for a staggering $92.6 million, including close to 12,000 cattle.

Independent valuer Herron Todd White’s latest report reveals the state’s rural property market is on fire, with agricultural land being seen as a safe haven asset in times of uncertainty.

Prices are strong, with values in some areas such as Blackall hitting record highs of up to $1000/ha, and while price points are high, the valuer believes the long-term capital gains have proven to be “exceptional”.

Mantuan Downs, near Springsure, sold for $92.6m. Image supplied.

Ray White Rural Queensland principal Jez McNamara said there had been strong demand for rural properties in the past 12 months, due to low interest rates, the low Australian dollar and good commodity prices.

Mr McNamara said agricultural land prices had increased between 10 and 30 per cent.

Most of the demand was now coming from Australian grazing families, rather than overseas.

“Families are seeing a really good future, so they’re expanding while they’ve got the opportunity,” Mr McNamara said.

“People are looking for assets to complement their existing holdings.

“Stock is low, but there are opportunities for buyers out there, and as spring comes on, we’ll start to see more properties hit the market.”

The view from the homestead on the property at 101 Dobelis Rd, Mount Forbes.

This rural property at 101 Dobelis Rd, Mount Forbes, is for sale with Ray White Rural.

Mr McNamara said there had also been a strong increase in demand for rural lifestyle properties within 2 hours drive of Brisbane since the COVID-19 pandemic.

“We’ve definitely seen a strong lift from Brisbane families looking for lifestyle properties since COVID,” he said.

“A lot of companies are realising they don’t need staff in the office five days a week, so people who’ve always wanted that rural lifestyle are happy to commute for three days or so.”

Herron Todd White Central Queensland director Will McLay said the central Queensland market was being driven by record beef prices, low interest rates and a switch in buyers from investors to owner-occupiers.

“The family sector is probably more dominant now as the institutional investors are being squeezed out by yield compression,” Mr McLay said.

“Rapidly rising land values have added balance sheet strength and borrowing power to the family sector, and private family acquisitions of $20 million to $50 million are relatively common.”

Welltown Station, west of Goondiwindi, sold for about $32m. Image supplied.

Mr McLay said developed scrub blocks and pastures with high grower/finishing capacities were the most highly sought after properties.

On the Gold Coast, the market has been driven by locals looking to increase their land holdings with a number of smaller (under $5 million) transactions taking place between adjoining owners.

“Larger parcels with multiple titles are attractive to buyers, and the low interest rate environment is attractive,” Mr McLay said.

“A number of buyers are looking at future returns on investment with the ability to boundary realign and sell off part of properties to reduce debt.”

“Deearne” property near Taroom sold for $22.5m at an auction in Brisbane.

In the Toowoomba region, one of the biggest sales so far this year is that of Welltown Station, west of Goondiwindi.

Herron Todd White’s Stephen Cameron said it was understood the 9.5ha holding sold for about $32 million to a local, large-scale pig operator with mixed grazing/farming country.

Another significant sale was that of the 16ha Marionvale Station near Greenvale, which sold at auction for $11.45 million, including cattle and plant items.

Marionvale cattle station, Greenvale, sold for $11.45m.

Mr Cameron said market prices had continued rising despite the COVID-19 lockdowns, with local buyers starting to replace southern buyers from NSW and South Australia.

“The locals have now taken charge,” Mr Cameron said.

“Their confidence is being driven by low interest rates and strong cattle pricing. Guess why the cattle pricing is strong? Because it rained down in the southern country.”

10 OF THE TOP RURAL PROPERTY SALES IN QLD IN THE PAST 12 MONTHS

1. “Mantuan Downs” in Springsure, a 134,744ha property, sold for $92.6 million (recorded as $78.625 million excluding stock and equipment) in December 2019

2. “Terrick Terrick” in Blackall, a 54,800ha property, sold for $40 million to listed company, AAM

3. “Welltown Station”, west of Goondiwindi, a 9.5ha holding, sold for about $32 million to a local, large-scale pig operator with mixed grazing/farming country

4. “Deearne” in Cockatoo, near Taroom, a 7,120ha holding, sold for $22.5 million in December 2019 to a Central Queensland grazier

5. “Bowen Bowen Downs” in Aramac, comprising three adjoining properties of 15 freehold and 2 leasehold titles of about 44,909 ha, sold for $19.5 million prior to auction to an adjoining land owner

6. “Broadlands” in Nindooinbah, a 1,344ha parcel with 9 freehold titles, sold for $19.4 million in October 2019

7. “Solferino”, north of a Clermont, a 6851ha mixed grazing/farming property, sold at auction earlier this year for $18.9 million

8. “Retreat Station” in Windorah, a 142,601ha holding, sold in August 2019 for $17 million

9. “Geddesvale” in Auburn, a 6271ha property, sold in March 2020 for $16.9 million

10. “Marionvale Station” near Greenvale, a 16ha property, sold at auction for $11.45 million, including cattle and plant items.

(Source: Herron Todd White)

The post Money back in the bush: Rural properties fetching top dollar appeared first on realestate.com.au.

A proposed 6.52ha seniors living development is for sale in Dural.

A 6.32ha senior living development blocked by the NSW Land and Environment Court in 2018 is back on the market with new DA approved plans.

Known as Wirrabara Village, the huge parcel of land at 3-5 Pellitt Lane and 9 Wiarrabara Road is offering developers the ability to build 136 residences.

The listing is set to land the developers a financial windfall upwards of $30 million after purchasing the site in 2017 for $12 million.

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The 6.52ha site is near the Dural town centre.

The initial development caused outrage within the Dural community, with the Hills Shire Council going to the NSW Land and Environment Court to stop the project. The court turned the plans down in 2018 over concerns about its impact on endangered and threatened species nearby, plus the location and access to infrastructure.

This followed the State Government signing off on plans for a four-storey 72-bed aged care facility, 117 assisted living units across two- and three-storey buildings, 37 independent living units and 80 apartments.

Artist impression of how the development will look.

A mix of townhouses, apartments and villas will be built.

The new Wirrabara Village will be much smaller with approved plans consisting of 97 houses, villas and apartments plus a 36-room residential aged care facility. There will also be community facilities, public and private outdoor spaces and parklands.

Colliers International national director Henry Burke, who is selling the site with his colleagues Eugene White and Guillaume Volz, said the site would tap into Dural’s ageing population.

“Population growth in the 65-84 age group (in Dural) will increase by 95 per cent by 2036 which further highlights the requirements for quality seniors living and aged care housing in the local district,” he said.

Wirrabara Village will be built over three landholdings.

A number of community facilities are included in the approved plans.

The listing ad describes the landholding as a never to be repeated opportunity in the Greater Sydney region due to recent changes in legislation that now prevent seniors development on Sydney metropolitan rural land.

Mr White said because of this opportunity, the Dural landholding will be popular with residential developers, aged care and seniors living operators and developers.

“It’s incredibly rare to find a large parcel of land with DA approval close to shops but away from main roads and thoroughfares in such a serene setting,” he said.

The DA also provides the purchaser with multiple staging opportunities and the opportunity to capture a wide buyer pool.

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110 Clarkes Rd, Anakie was designed by renowned mud-brick builder Alistair Knox.

A NATURAL haven designed by famed mud-brick craftsman Alistair Knox has hit the market in Anakie.

The sustainable hideaway showcases the pioneering designer’s work on a 1.98 hectare bush property that counts a kangaroo called Harvey among its regular visitors.

With a playground to rival some small suburban parks and a man cave, 110 Clarkes Road, Anakie is the perfect place to disconnect.

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Exposed timber and brick features inside.

The living area has a rustic feel.

Ray White, Lara agent Terry Cleary will take the two-bedroom, two bathroom mud brick house to auction on August 25, with a price guide of $710,000 a $759,000.

The rustic home features red brick flooring, reclaimed timbers and vast windows to frame views of the landscape.

A huge brick open fireplace is the centrepiece of the open-plan living zone, while the kitchen has an IXL combustion stove.

Clerestory windows draw in natural light.

The main bedroom comes with an open fireplace.

Large windows frame garden views in the sunroom.

Vendors John Sanders and Carol Brislane said the home’s warmth and natural setting drew them to the property.

They have savoured the serenity and native flora and fauna, while their grandkids got hours of entertainment out of the playground.

There’s hours of entertainment out here.

“It was very different and it had a lot of character, that’s what attracted us to it,” Mr Sanders said.

“It’s a real nature block, there are lots of birds.

“It was built by Graham and Heather Bird so we have called it Bimbimbi, which means place of birds.”

The late Mr Knox is considered a pioneer of modern mud brick design was awarded an honorary doctorate in architecture from Melbourne University for his contribution.

There’s no sense of neighbours here.

The native trees attract lots of birdlife

Mr Cleary said his homes had quite a following.

“It’s one of those properties, it may be rustic in design, but it’s just got a real warm, comforting feeling,” Mr Cleary said.

“It’s not going to suit everybody but the people that like it will really love it.”

The property includes a large outdoor entertainment area, a two-bedroom caravan with an annex for guests, three dams, a windmill and shedding.

The property has a man cave ready to go.

And three dams.

Mr Cleary said Anakie was popular for its rural lifestyle and location, within 30 minutes of Geelong.

“It’s a natural setting and if you want to disconnect from this crazy world it’s a good place to do it,” he said.

The post Alistair Knox mud-brick house selling at Anakie bush haven appeared first on realestate.com.au.

The Wilberforce property of drag racer Jason Hedges is on the market.

Australian drag racing driver Jason Hedges has listed a palatial home regarded as one of the finest in Sydney’s west.

The 10.12ha Wilberforce estate is an entertainer’s paradise with a home theatre, rumpus room and a stunning deck.

It is also the ultimate man retreat, with the Krahe Rd residence featuring a 560sqm garage with games room, a car showroom, secondary shed and enough undercover parking for 23 cars.

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The home theatre is kitted out with the quality technology.

The five-bedroom, four-bathroom property being offered for the first time via private treaty with a $3.9-$4.1m guide.

Cutcliffe Properties agent Craig Donkin said the home known as Meadowgrove Farm, is one buyers could not look past.

“In my 24 years of selling real estate this would be of the one best homes I have ever come across,” he said.

“Everything is immaculate, the land is stunning and it is an expensive build.”

The garage has a bar with a drag car on display.

There is also enough space to work on multiple cars and park a motorhome.

Since coming to market a few days ago, Mr Donkin has been inundated with around 100 inquires from across Sydney.

“The phone has been off hook from not only locals, but also inner city buyers after more space because of coronavirus,” he said.

Hedges, who races under the Jason Hedges Racing banner, purchased the 10.12ha parcel in 2012 before building sparing no expense with the build.

The master built country-style home has a modern stone kitchen, open plan family room and three of the five bedrooms have walk-in wardrobes and ensuite bathrooms.

The family room and kitchen is the hub of the house.

The main bedroom is located far away from the other bedrooms.

The house also has a gigantic cinema with two rows of red couches, a rumpus room, study and an entertaining deck with a built-in spa and kitchen. Furthermore, the home has high ceilings, seven-zone ducted airconditioning, a fireplace, and a four-car garage.

The 560sqm garage is the stuff of dreams with a carport running down the entire length of the building, while inside has a workshop large enough to store a motorhome and work on multiple race cars at the same time.

The deck has a built-in spa.

The level property has a dam and a full bitumen driveway.

“With those polished floors, the garage would have to be one of the best ever built,” Mr Donkin said.

To top it off, the garage also a showroom with a drag car on display and a fully stocked bar. Behind the garage is a games rooms, as well as a three-bedroom studio with kitchen that could be used for guest accommodation.

There is also a four-door machinery shed which includes a John Deere tractor, ride on mower, farm ute and kids buggy.

Drag racer Jason Hedges built the home after purchasing the block in 2012.

High ceilings and a fireplace are among many features of the home.

A full bitumen driveway, landscaped irrigated garden, dam and a heated swimming pool round out the epic features.

With a $3.9m-$4.1m guide, Mr Donkin said the property offers exceptional bang for buck.

“If you went 30 minutes down the road to Dural, you would not be able to find a property of this size and condition for this price,” he said.

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The site of a new residential development in Mount Louisa, Summerset Estate. PICTURE: MATT TAYLOR.

CONSTRUCTION on a residential development in the heart of Mount Louisa has started in a bid to support jobs and help Townsville surge ahead following the COVID-19 impacts.

Summerset Estate, an infill development off Banfield Drive set in an established neighbourhood, is the latest in Mendi Group’s property portfolio and will offer 95 residential lots.

Originally destined to be used for schooling, the site was bought from the state government in 2012.

Mendi Group managing director Jeff Doyle said now was the perfect time to get moving on the project with residential development considered to be the “best use” for the parcel of land.

Mr Doyle said providing employment opportunities and generating activity offered flow-on effects for local businesses.

The site of a new residential development in Mount Louisa, Summerset Estate. PICTURE: MATT TAYLOR.

“I’ve had this approval for a while and we chose to do it now because it fits with our availability of construction crew, but it also fits with the need to employ people,” he said.

“We’re trying to generate jobs in Townsville given the current COVID situation.

“We’ll employ 20 people here throughout the construction, for the rest of the year. It will also keep another 25 to 30 people external to the site (in jobs) such as consultants, town planners and engineers.

“We’ve got a unique parcel of land because it is an infill. We can’t be compared to other developments so we’ve had a lot of interest since our boardings have gone up.”

The project will inject more than $40 million into the community and increase the value of the area.

Managing director of Mendi Group, Jeff Doyle at the site of a new residential development in Mount Louisa, Summerset Estate. PICTURE: MATT TAYLOR.

It is designed to complement existing housing, offering lot sizes between 390sq m and 865sq m close to existing amenities such as businesses, schools, parks and major road infrastructure.

Mr Doyle said it was important to be agile and adapt to changing circumstances, and to drive activity.

“We understand that COVID’s had a big impact on certain industries, but not so much the construction industry, so we consider ourselves lucky,” he said.

“We have also grabbed people from the hospitality industry and we have got some of them working in our business now.”

The first stage of the development is scheduled for release in October with construction to be completed by the end of 2021.

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The Huntington Apartments at the Jackson Green development by Cedar Woods.

COVID-19 has transformed aged-care facilities across Melbourne into a place few would want to call home.

But latest federal government figures show almost 1600 Victorians aged 18-65 have little other choice, with complex care needs forcing them into such residences.

And while new initiatives between Melbourne developers and not-for-profit groups like Summer Housing are opening alternatives, there are fears the virus could limit the novel intervention.

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The Huntington Apartments at the Jackson Green development by Cedar Woods.

Linked to the National Disability Insurance Scheme, Summer Housing is one of several groups buying apartments in soon-to-be built complexes around Melbourne to give those with complex care needs a chance at an ordinary life and independence.

But despite having 60 new units under construction across the city today, they are now worried their clients will have fewer choices in the near future as off-the-plan project approvals tumble due to the virus.

Summer Housing chief executive Dan McLennan said they had recently bought 11 apartments at Cedar Woods’ Huntington Apartments, including 10 for those with complex care needs and one for an in-building assistant.

But they have watched others they wanted to buy into fall short as buyers baulked in the face of COVID-19.

The Huntington Apartments at the Jackson Green development by Cedar Woods.

The Huntington Apartments at the Jackson Green development by Cedar Woods.

“We are cheering on the developer to secure sales from people who will never know us, but are helping the project to proceed,” he said.

Currently they have apartments available or under construction in Fairfield, Oakleigh, Southbank, Docklands, Abbotsford, West Melbourne, Heidelberg and Williamstown.

While not widely known about, the model helps young Australians escape nursing homes. “But also people who are living with mum and dad but are well above the age where they would want to do that … or are living in hospital,” Mr McLennan said.

They target new developments which provide lifts and fire sprinklers built in, but also allow them to make subtle but important changes to units.

These range from adjusted bench and sink heights or home automation controlled by smart devices and voice, to systems that allow residents to call for help from a building-based carer.

Those moving into Summer Housing properties pay rent, but it is capped at 25 per cent of their disability support pension, and any rental assistance they receive.

“It is usually equivalent to social housing, with the balance from the NDIS,” Mr McLennan said.

The Huntington Apartments at the Jackson Green development by Cedar Woods.

The Huntington Apartments at the Jackson Green development by Cedar Woods.

Cedar Woods Victorian state manager Lloyd Collins said he was proud to be working with Summer Housing and expected more developers would turn to them and similar operators.

“It’s important that our young Australians have an opportunity to live an independent life, and 11 pre-sales to Summer Housing also helped us to get the Huntington Apartments under construction — and that really is win-win,” Mr Collins said.

“I expect it’s going to be a growing market, we would certainly look forward to doing more deals with Summer Housing and other providers.”

However, he warned that with pre-sales having slowed across much of the development industry as a result of COVID-19, there “must have a knock-on effect to what gets delivered in 18 months time”.

The Huntington Apartments have 165 units in total and construction will be completed mid next year, with the Summer Housing apartments to be scattered throughout the building.

The Huntington Apartments at the Jackson Green development by Cedar Woods.

The Huntington Apartments at the Jackson Green development by Cedar Woods.

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For more information on Summer Housing contact 9916 7939 or see summerhousing.org.au

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495 Bacchus Marsh Rd, Lara

Owners of a transport business have cemented their move to Geelong after securing a small acreage property at Lara.

The buyers, who moved to Geelong last year and had been renting near the city centre, paid $1.15 million for the 1.75ha lifestyle property at 495 Bacchus Marsh Rd, selling agent Peter Norman said.

The Hayeswinckle, Lara agent, who handled the sale with Miranda Williams, said the price netted a $52,000 premium on the top of the price range for the property, which is at the intersection of McNeil Court.

495 Bacchus Marsh Rd, Lara

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It was initially listed in March, ahead of the first COVID-19 lockdown, with a price guide of $1.175 million to $1.275 million.

Price hopes were adjusted to $999,000 to $1.098 million in the wake of the pandemic.

Mr Norman said the corner property offered land banking potential as the site was located within Geelong’s North and West Growth Area, where the city’s next suburbs will be developed.

495 Bacchus Marsh Rd, Lara

“It was quite a small property on that corner allotment. The house has three bedrooms and a swimming pool,” he said.

“There were four buyers and there was competitive bidding.”

Mr Norman said the buyers saw it as their dream home.

It’s the latest of several properties to sell in the area, include a 2ha property use for caravan storage at 455 Bacchus Marsh Rd, which sold for $1.02 million in April, a four-bedroom house with panoramic You Yangs views at 60 McNeill Court, Lara that netted $1.022 million in July and four-bedroom lifestyle manor on a 1.82ha property at 45 Houston Rd, Lara, which sold for $915,000, also in July.

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