Croydon

Ironside Construction has just wrapped up works on the $31 million Croydon project, Orphic.

Orphic, developed by Eastern Wellness with funding provided by Banner Asset Management, has 50 one, two and three-bedroom apartments across its five levels.

Prices started at $350,000 for the one-bedroom apartments. 
<a data-entity-type="file" data-entity-uuid="0b8be84d-136b-4caa-b7b4-97e30ead07cb" href="https://www.urban.com.au/new-apartments/orphic-176-mt-dandenong-road-croydon"><img alt="Orphic" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/EWA11272_176%20Mt%20Dandenong%20Rd%20Photography_44_8482%20%281%29.jpg?VersionId=L2IWt22DcyHHZYhUIYrYqYOzHFRiaTPg" /></a>

Banner Asset Management’s Founder and CEO Andrew Turner said Orphic was a natural investment opportunity for the group due to the experience of the developer, builder and project team.&nbsp;

“We’re pleased to see the development reach completion, with the project having achieved strong presales and pre-leasing prior to the commencement of construction, reflecting the strength of the project,” Turner said.&nbsp;

“As evidenced by the success of Orphic, well-priced, premium residences and commercial spaces in Croydon are clearly in demand, and we expect continued strength in this market.”

Designed by JAM Architects, the interiors are architecturally designed with a premium level of finishes, coupled with wide format porcelain tiles in the living areas, chrome taps and floor-to-ceiling tiles in the bathrooms.

Orphic’s façade incorporates a charcoal and cream colour palette with timber highlights. Greenery weaves throughout the exterior of the development, adding a natural touch.

<a data-entity-type="file" data-entity-uuid="57011c7a-cc73-4d79-98d6-587e6f07bc9d" href="https://www.urban.com.au/new-apartments/orphic-176-mt-dandenong-road-croydon"><img alt="Orphic" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/EWA11272_176%20Mt%20Dandenong%20Rd%20Photography_44_8892%20%281%29.jpg?VersionId=jxniwMYXTaqrLtAmsT1hM4FQVjtHDv3K" /></a>

Orphic’s ground level also includes space for five retail tenancies and an office tenancy, with the areas spanning from 118 sqm to 1,250 sqm, suiting a variety of business uses.&nbsp;

Situated within the epicentre of Croydon’s commercial and lifestyle precincts, residents have convenient access to a number of retail amenities, as well as educational opportunities, recreational parks and public transport, providing a seamless connection to Melbourne’s CBD, which is just 27-kilometres away.&nbsp;

[smartcode_project_cta:default project_id=5614]

Designed by JAM Architects, the interiors are architecturally designed with a premium level of finishes, coupled with wide format porcelain tiles in the living areas, chrome taps and floor-to-ceiling tiles in the bathrooms.

alisonwarters@gmail.com

Construction wraps on $31 million Orphic, Croydon apartments

The Croydon apartment development, L1ON Croydon in Sydney&#39;s inner west, has officially sold out.

Located at 1 Lion Street, Croydon, L1ON Croydon has 35 modern one, two and three-bedroom apartments across two buildings, behind a sleek fa&ccedil;ade designed by Benson McCormack Architects (BMA).

The project has been built and developed by construction veterans and renowned property developers Hone Constructions, who offer a unique combined approach to quality building with over 15 years of experience in the property industry.

Sydney&rsquo;s HAUS Agency sold out the project, which also features a number of two-level residences.

[smartcode_project:default project_id=95518 project_image_fid=191812]

&ldquo;We know that Croydon is a wonderful location, just 20 minutes from the CBD, and buyers that have been eager to secure their first home somewhere that makes commuting to work easy,&rdquo; Alexander Vrisakis, HAUS Agency Director, said.

&ldquo;We&rsquo;re really excited to bring such a unique building to the market in Enfield, a location that many don&rsquo;t realise is an area on the flanks of Sydney&rsquo;s Inner West experiencing a sustained expansion in terms of both key transport and lifestyle advantages,&rdquo; said Vrisakis.

&ldquo;At the heart of this domain is Coronation Park, a new and innovative approach to sophisticated yet affordable urban style.&quot;

[smartcode_project:default project_id=95518 project_image_fid=191799]

L1ON Croydon apartments feature&nbsp;Fisher &amp; Paykel appliances,&nbsp;engineered European oak flooring, Caesarstone kitchen benchtops, bespoke blinds and LED lighting throughout.

HAUS Agency didn&#39;t start marketing the apartments until they were nearly completed, a strategy which&nbsp;HAUS Agency Director Sean Dowling said saw them see success.

&quot;It&rsquo;s rare to find such high-quality apartments that are untouched and available to purchase now, with every apartment completed and ready to inspect,&quot; Dowling said.

The majority of sales have been to first home buyers looking to get a foot on the property ladder, but also local owner occupiers looking for something new, post-COVID-19.

[smartcode_project_cta: project_id=95518]

Located at 1 Lion Street, Croydon, L1ON Croydon offers 35 modern residences across two buildings within a sleek façade designed by Benson McCormack Architects (BMA).



L1ON Croydon apartment sell out

It&#39;s taken just three months for the newly completed Croydon apartment development, L1ON Croydon, to nearly sell all of its apartment.

The boutique development at 1 Lion Street, Croydon, in Sydney&#39;s inner-west, has just 35 apartments in the two buildings designed by Benson McCormack Architects.

The one, two and three-bedroom apartments have primarily been a hit with local first home buyers, as well as local&nbsp;owner-occupiers who took advantage of the dual-level apartments.

The project has been&nbsp;built and developed by construction veterans and property developers Hone Constructions, who have&nbsp;over 15 years&#39; experience in the property industry.

[smartcode_project:default project_id=95518 project_image_fid=191784]

&nbsp;

Alexander Vrisakis, director at HAUS Agency who has been handling the sales process, said the location of&nbsp;L1ON Croydon was a strong driver in purchasing.

&ldquo;We know that Croydon is a wonderful location, just 20 minutes from the CBD, and buyers that have been eager to secure their first home somewhere that makes commuting to work easy,&rdquo; Vrisakis said.

L1ON&nbsp;Croydon is close to both Ashfield and Croydon train stations, and is also well connected to the CBD by the extensive bus network. It sits within close proximity to&nbsp;parks, sports and aquatic centres, as well as public and private schools like PLC Sydney and De La Salle College Ashfield.

[smartcode_project:default project_id=95518 project_image_fid=191818]

Residents are also close to shopping centres like Westfield Burwood and Ashfield Mall, plus all the eateries, cafes and bars of nearby Haberfield and Burwood.

L1ON&nbsp;Croydon apartments are kitted out with&nbsp;Fisher &amp; Paykel appliances, engineered European oak flooring, Caesarstone kitchen benchtops and bespoke blinds and LED lighting throughout.

[smartcode_project:default project_id=95518 project_image_fid=191816]

HAUS Agency Director Sean Dowling said it&#39;s rare to find such high-quality apartments that are untouched and available to purchase now.

&ldquo;We&rsquo;ve seen solid results, with a big draw card being the fact that the development completed on 1st&nbsp;February *and is ready to move in now,&quot; Dowling said.

&nbsp;

One-bedroom apartments at L1ON&nbsp;Croydon&nbsp;are priced from $730,000.

[smartcode_project_cta: project_id=95518]

The one, two and three-bedroom apartments have primarily been a hit with local first home buyers, as well as local owner-occupiers who took advantage of the dual-level apartments

Joel Robinson

L1ON Croydon apartments snatch local first home buyers as sell-out approaches

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HTW expects there to be steady activity and growth within Melbourne’s outer eastern suburbs, however, it is possible that uncertainty in the market caused by international political decisions may result in activity being marginally subdued in comparison to 2016, according to its February 2017 update.
The valuation firm says that it expects that downsizers will continue to cash in on larger blocks as the supply of development sites reduces, particularly in areas such as Croydon, Mooroolbark and Kilsyth.
“Ringwood North is perhaps another suburb worth watching due to its proximity to Eastlink and Eastland shopping centre, as well as access to good schools,” the reports says.
“The suburb continues to increase in popularity among up-sizers and families.
“Larger blocks with subdivisional potential in the outer eastern suburbs tend to be considerably more affordable than blocks on the outskirts of the middle eastern suburbs such as Ringwood East.
“Additionally homes located in the far outer eastern suburbs such as Coldstream still represent good value, especially for those not required to be close to transport links or the rail network.”
HTW says Croydon South is also a suburb that tends to be relatively affordable and is therefore also a suburb that is likely to experience higher than average growth this year as first home buyers rush to take advantage of the record low interest rates.
Apartments in suburbs such as Croydon and Mooroolbark tend to be relatively affordable but buyers should be cautious about the quality of finish on many of these newly constructed buildings, the report states.
“However, it could be argued that the majority of these apartments are built for the investor market and therefore affordability would tend to be the overriding factor rather than quality.
“We believe that the resale value of these apartments may be adversely impacted in the future as a result of the below standard quality of fittings and fixtures.”
At the average price of $671,000 an investor can purchase a house such as the one at <a href="https://www.realestate.com.au/property-house-vic-croydon-124606754" target="_blank">2 Nuraylia Avenue</a>, Croydon (above) that is currently available for between $670,000 to $737,000.
Similarly at the average price of $490,000 an investor can purchase a unit such as the one at <a href="https://www.realestate.com.au/property-unit-vic-croydon-124343538" target="_blank">4/32 Dorset Road</a>, Croydon (below) that is available for $499,000.
<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/2017/02/15/4_32%20Dorset%20Road.jpg" alt="">
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jonathanchancellor-7SQnKwU6yx

Melbourne's Croydon attractive to first home buyers: HTW

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A Croydon estate agency will contribute $45,000 to the Victorian Consumer Law Fund, after acknowledging contraventions of Victorian consumer and property laws relating to property sales.
The Director of Consumer Affairs Victoria has accepted undertakings from O'Brien Real Estate Croydon Pty Ltd (ACN 150 146 008) and its sole director, Mr Jerry Caleca, for making false or misleading representations about the sale price of a number of properties.
"We commenced an investigation after receiving a complaint alleging that an agent's representative at the company was misleading potential buyers by advertising a property at a price that was less than the vendor's price.
"We found that seven properties in Croydon, Mooroolbark, Chirnside Park and Wonga Park were advertised with a price range lower than what was listed as the vendor's price on the sales authority.
"We also found that four of the properties were advertised at a price that was less than the agent's estimated selling price."
Consumer Affairs Victoria considers that the company has engaged in conduct that was misleading and deceptive, or likely to mislead or deceive, and has contravened the Australian Consumer Law (Victoria).
O'Brien Real Estate acknowledged that it had contravened sections of the Australian Consumer Law (Victoria) and the Estate Agents Act 1980.
As well as the $45,000 contribution to the Victorian Consumer Law Fund, Mr Caleca, 49, of Croydon Hills, offered an undertaking that at its own expense, the company will:
<ul>
<li>establish a compliance program within three months of the undertaking, and maintain the compliance program for three years. Mr Caleca must also provide our Director with a signed affidavit verifying that the compliance program has been implemented</li>
<li>display a public notice stating its contraventions:</li>
<li>on the company website (www.methven.com.au), and</li>
<li>at or near the reception desk of each of its existing or new premises from which the company carries on real estate services.</li>
</ul>
This public notice will be displayed within 14 days of the undertaking and remain displayed for three months.
This enforceable undertaking will be in effect for three years.
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j.ballantyne1990-6AQqhLzZaK

Croydon's O'Brien Real Estate pays $45,000 fine for underquoting

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Melbourne’s median house price has increased for the fifth consecutive quarter.
New REIV data shows the metropolitan Melbourne median house price rose 2.9 per cent in the three months to June 30, to $822,000.      The city’s middle and outer suburbs were the main growth drivers in the June quarter with both regions up by more than three per cent.   Top performing suburbs were widespread across Melbourne and at both ends of the market – from Broadmeadows and Roxburgh Park in the north to Malvern East and Toorak in the south-east.   Croydon in the outer east experienced the city’s largest quarterly increase, up more than 20 per cent to a median of $810,000.     REIV Acting President Richard Simpson said Melbourne’s property market continues to perform strongly, boosted by a buoyant auction market.   “It has been an exceptional year for the property sector with numerous auction records falling in the first half of 2017,” he said.   “More than 10,300 homes have gone under the hammer in the June quarter – a record for this time of year.   “Price growth is being supported by a number of key factors, including unprecedented population increases, record low interest rates and strong buyer demand.   “It’s certainly a sellers’ market at present with strong competition for homes across the city, particularly in Melbourne’s more affordable areas. “Half of the suburbs making the top growth list this quarter are priced below the citywide median, suggesting buyers continue to seek value further from the city.”   Mr Simpson added that the city’s apartment sector had also performed strongly in the June quarter with the metropolitan Melbourne median increasing 4.3 per cent to $606,500.   “Contrary to popular opinion, Melbourne’s apartment market has been growing steadily for the past year with strong price growth in inner city areas.”   House prices in regional Victoria rose strongly for the second consecutive quarter, up two per cent in June to a record high $385,000.
<h3>June Quarter 2017 Metropolitan Median Prices</h3>
Prices for regional Victoria are also <a href="https://www.reiv.com.au/RESEARCH/Sales-Data/Median-Prices-in-the-Regions">available</a>.
<table dir="ltr" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td>Metro Melbourne</td>
<td>Jun-17 Quarter</td>
<td>Quarterly Change</td>
<td>Mar-17 Quarter</td>
<td>Annual Change</td>
</tr>
<tr>
<td>House</td>
<td>$822,000</td>
<td>2.90%</td>
<td>$799,000</td>
<td>10.30%</td>
</tr>
<tr>
<td>Unit</td>
<td>$606,500</td>
<td>4.30%</td>
<td>$581,500</td>
<td>7.70%</td>
</tr>
<tr>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td>Inner</td>
<td>Jun-17 Quarter</td>
<td>Quarterly Change</td>
<td>Mar-17 Quarter</td>
<td>Annual Change</td>
</tr>
<tr>
<td>House</td>
<td>$1,468,000</td>
<td>-2.10%</td>
<td>$1,500,000</td>
<td>14.20%</td>
</tr>
<tr>
<td>Unit</td>
<td>$630,500</td>
<td>6.50%</td>
<td>$592,000</td>
<td>6.30%</td>
</tr>
<tr>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td>Middle</td>
<td>Jun-17 Quarter</td>
<td>Quarterly Change</td>
<td>Mar-17 Quarter</td>
<td>Annual Change</td>
</tr>
<tr>
<td>House</td>
<td>$991,500</td>
<td>3.20%</td>
<td>$961,000</td>
<td>10.00%</td>
</tr>
<tr>
<td>Unit</td>
<td>$681,000</td>
<td>6.70%</td>
<td>$638,500</td>
<td>7.70%</td>
</tr>
<tr>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td>Outer</td>
<td>Jun-17 Quarter</td>
<td>Quarterly Change</td>
<td>Mar-17 Quarter</td>
<td>Annual Change</td>
</tr>
<tr>
<td>House</td>
<td>$642,000</td>
<td>3.70%</td>
<td>$619,000</td>
<td>9.80%</td>
</tr>
<tr>
<td>Unit</td>
<td>$490,000</td>
<td>4.30%</td>
<td>$470,000</td>
<td>8.70%</td>
</tr>
</tbody></table>
*All quarterly median prices are seasonally adjusted and quarterly. Annual change is based on rolling annual figures.
<h3>Metropolitan Median Prices Over Time</h3>
The graph below depicts median house and unit prices in Melbourne over the past decade in seasonally adjusted terms. <a href="https://www.reiv.com.au/getattachment/PROPERTY-DATA/Median-Prices/Pg13_Median-price-Metro_Sep-Q-2015.png.aspx"><img src="https://www.reiv.com.au/property-data/premium-research/research-bulletin/metro-median-jun-2017.aspx" alt=""></a> Recent sales in Croydon at around its new median included the four bedroom home at <a href="https://www.realestate.com.au/sold/property-house-vic-croydon-125704550" target="_blank">40 Cherry Tree Grove, Croydon</a> for $865,000 (below).
<img src="https://www.urban.com.au/images/2017/07/18/Screen%20Shot%202017-07-18%20at%209.40.50%20AM.png" alt="">
The three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-vic-croydon-125633226" target="_blank">9 Joffre Street, Croydon</a> (below), recently sold for $810,000.
<img src="https://www.urban.com.au/images/2017/07/18/Screen%20Shot%202017-07-18%20at%209.43.28%20AM.png" alt="">
<h1 class="property-info-address"> </h1>
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Melbourne’s median house price up for fifth consecutive quarter

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A 1940's home in Victoria's suburb of Croydon is on the market with a price guide from between $2.35 to $2.585 million.
The property, <a href="https://www.realestate.com.au/property-house-vic-croydon-126088838" target="_blank">5 Kenmare Ave, Croydon</a>, is a five-bedroom home on a 1943sqm block was purchased around eight years ago by antique dealers.
<div id="rui-main-content" class="primary">
<div class="main-container">
<div class="wp-caption">
<img class="size-full wp-image-207464" src="https://www.realestate.com.au/blog/wp-content/uploads/2017/08/13120033/capi_131aef075140a8e2c06537c34a1fd9d8_3e0bcf6cb217a64d3fbd0a95efb51cc3.jpeg" alt="5 Kenmare Ave, Croydon. For Herald Sun Realestate" data-capiid="3e0bcf6cb217a64d3fbd0a95efb51cc3"> 
Chris Price, McGrath, Croydon, agent said most of the sash and leadlight windows are from country Victoria, the island bench in the kitchen is a remodelled Victorian-era shop counter with a porcelain butler’s sink, the buffet and hutches are from a church and date back to 1910, and the period lights and switches are French and English. 
“It is probably Croydon’s finest character period home,” he said.
</div>
<div class="wp-caption"><img class="size-full wp-image-207465" src="https://www.realestate.com.au/blog/wp-content/uploads/2017/08/13120037/capi_131aef075140a8e2c06537c34a1fd9d8_64f3857832b876215be6753c90df6dbe.jpeg" alt="5 Kenmare Ave, Croydon. For Herald Sun Realestate" data-capiid="64f3857832b876215be6753c90df6dbe"></div>
 
The turret has 270-degree views.
A formal lounge with a circular sitting room is beneath the turret. The home also has a rumpus room, study, decorative fireplaces and a heated pool.
<div class="wp-caption"><img class="size-full wp-image-207466" src="https://www.realestate.com.au/blog/wp-content/uploads/2017/08/13120041/capi_131aef075140a8e2c06537c34a1fd9d8_f822df56fb8d08fcec8475ddbcfd0552.jpeg" alt="5 Kenmare Ave, Croydon. For Herald Sun Realestate" data-capiid="f822df56fb8d08fcec8475ddbcfd0552"></div>
The property is going to auction 2pm September 23.
</div>
</div>
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1940s home in Victoria's Croydon listed

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The Maroondah Village Shopping Centre in Melbourne’s north-east has been listed for sale, representing one of the first Victorian neighbourhood shopping centres to be offered for sale in 2018.
The single level Croydon North neighbourhood shopping centre is anchored by a strongly trading Coles Supermarket.
There are 10 specialty retailers, spanning a site area of 9,707 square metres which includes 2,000 square metres of surplus land and 113 at grade car parks.
The centre is 98% leased with an annual net income of $850,000.
Located 30 kilometres north-east of the Melbourne CBD, the centre benefits from a rapidly rising population which is expected to see more than 20% growth by 2036.
"The very strong Asian demographic - a population now exceeding 20% of the region’s total population - has also seen the median house price rise to more than $1 million and a retail catchment with an increasing level of disposable income," according to CBRE agent Mark Wizel.
The zoning allows for more intensive mixed use development.
He said the current owners had purchased the centre with the idea of acquiring neighbouring sites to allow for future expansion of the Coles Supermarket or for a redevelopment of the entire property.
The owners successfully acquired those properties and they are now being offered with the existing shopping centre for sale.
"The opportunity for value add investors to acquire a well leased centre like this one at a price point of under $20 million is something very rare in any metropolitan location not only in Victoria but along the entire eastern seaboard,’’ Wizel said.
The offering, which follows the recent on-market campaign of the Stockland owned Highlands Shopping Centre, sees offers closing March 29.
 
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Maroondah Village shopping centre on the market

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In terms of the best growth suburbs to invest in Melbourne, valuer John Costanzo believes there is still plenty of value to be had in Ringwood and Croydon, according to the latest Herron Todd White (HTW) residential report. 
"While the property market started 2019 on a positive note with more interest from buyers, auction clearance rates rising and banks chasing more business, another hurdle has been put in our way," the valuation firm said. 
"While the current slump in property values resembles those in 2008 during the global financial crisis, this time around, our economy is sound with interest rates at an all-time low." 
A four bedroom house positioned within a highly coveted cul-de-sac in Ringwood with views of Dandenong Ranges has recently been sold for $796,000.
Nestled on a 559 square metre allotment, the brick house at<a href="https://www.realestate.com.au/sold/property-house-vic-ringwood-129317002" target="_blank"> 4 Gibson Court</a> (pictured below) comprises master with built-children's playroom, three additional bedrooms, living and dining room with views, and sleek stone kitchen.
It has easy access to schools, shops and public transport. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/27/ringwood%20.jpg" alt="">
Another pick is Wantirna, according to the HTW report. 
"While Wantirna South’s median entered the $1 million club in 2018, its sister suburb Wantirna is inevitably next in line," the valuation firm commented. 
With a median house price of $960,600, it offers excellent transport links, schools and proximity to Westfield Knox Shopping Centre, which will undergo a long- awaited major redevelopment from November 2019.
A current listing is a three bedroom single level house priced between $880,000 to $960,000.
Situated at <a href="https://www.realestate.com.au/property-house-vic-wantirna-131232658" target="_blank">2 Fortescue Court, Wantirna</a> (pictured below), the house comes with master bedroom, two additional robed bedrooms, living and dining spaced with porcelain tiles, smart kitchen and family area. 
Additional features include ducted heating, split-system heating/cooling, salt-chlorinated in-ground pool with deck surround and double garage.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/27/wantirna%20.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/6/27/east%20mel.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/27/east%20mel.jpg" alt=""> 
"Investors should start thinking about suburbs where infrastructure upgrades, particularly with links to transport, could put them at the top of the next boom.
"Buyers are still being cautious and with tighter lending conditions still in place, it’s likely the eastern Melbourne market will tread water in the latter half of 2019, although this will vary depending on local market conditions and demand. Only time will tell."
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