From Tim Gurner via the AFR:
The Australian Financial Review Rich Lister Tim Gurner has cut out more than half the apartments from a $65 million Toorak development, replacing them with penthouse-style three and four-bedroom residences to tap into the growing demand from wealthy local downsizers
With demand from investors having “stopped, not just slowed” following the recent removal of off-the-plan stamp duty concessions, Mr Gurner said he was “very happy” to be developing apartments for local owner occupiers at the high end of the market.