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<img src="/images/stories/reiwamarch7.gif">
Property Observer readers can secure free tickets for the Perth Home Buyer and Property Investor Show by <a href="https://www.homebuyershow.com.au/special-offers/propertyobserver-ticket-offer/" target="_blank">clicking here</a>.
 
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cknowlton-QnEa6ntUYP

Perth sales down 10% on last week, but still up 17% on same week last year: REIWA

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12/1554 Dandenong Road, Oakleigh, Vic 3166
<img style="border-style: initial; border-color: initial;" src="/images/stories/dnong.jpg"> 
This one-bedroom unit is currently leased until April 2012 at $1,260 per month. It includes a modern kitchen, a generous well-styled bathroom, reverse cycle air-conditioning, dishwasher, European laundry, secure parking, storage cage and a private courtyard.
The property was passed in at its weekend auction for $275,000. There was one bid of $265,000. Ray White agent Gareth Apswoude is now marketing the property<a href="https://www.raywhite.com/vic/oakleigh/666057/" target="_blank"> </a>with price hopes of $295,000, which would secure an investor a gross rental yield of 5.1%, higher than the indicative gross rental yield of 4.7% for Oakleigh units, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $8,000 and over five years to be $28,000.
The median unit price for Oakleigh fell by 10.4% in the past year, according to RP Data.
For more about prices and yields in Oakleigh, see the RP Data suburb page.
For more about investment prospects that went to auction over the weekend, see pages 2 and 3.
 
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61 Bull Street, Cooks Hill, NSW, 2300
<img style="border-style: initial; border-color: initial;" src="/images/stories/bullst.jpg">
This three-bedroom house is currently tenanted at $370 per week, though the lease is expired. It sold at auction for $460,000 on Saturday, March 3, and if the new owner continues to rent it out, it would return a gross rental yield of 4.2%, about at the indicative gross rental yield of 4.2% for Cooks Hill houses, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. Council rates are $1,439 per year and water rates are $660 per year plus usage. The property is close to restaurants and parks and includes a large courtyard.. Before auction Walkom agent Kate Rundle marketed the property with price hopes of $450,000 plus. 
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $8,000.
The median price for Cooks Hill houses fell 2.9% in the past year, according to RP Data.
For more information about yields and prices in Cooks Hill, see the <a target="_blank" href="/news">RP Data suburb page</a>.
 
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22 Lubrano Street, Brighton East, VIC, 3187
<img style="border-style: initial; border-color: initial;" src="/images/stories/lubrano1.jpg"> 
This 1920s California bungalow on 666 square metres is currently leased until June 2012 at $481 per week. The three-bedroom house includes high ceilings and polished timber floorboards and is within walking distance of the Hawthorn Road tram and Gardenvale Primary School.
It was passed in at its weekend auction on $925,000 and now has a price of $969,000, which would secure a gross rental yield of 2.6%, below the indicative gross rental yield of 3.3% for Brighton East houses, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. There was one bidder. Before auction Century 21 agent Michael Egan was marketing the propertywith price hopes of $920,000 plus.
The median price for Brighton East houses fell by 9.3% in the past year, according to RP Data.
For more about prices and yields in Brighton East, see the RP Data suburb page.
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Investor form guide wrap: Yields of up to 5.1% in Oakleigh

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Buyer demand and confidence eased in the pricey inner-Melbourne municipality of Stonnington during 2011, according to Jellis Craig's Annual Property Review, but the agency expects buyers to return to the market for blue-chip properties in 2012.
“In general, against some easing of demand and buyer confidence driven by European concerns, Stonnington held well in 2011. As the municipality takes in some of Melbourne’s highly sought, blue-chip suburbs, it is important to reflect on how specific areas have performed over the last three years, to put any projections for 2012 into context,” say report authors Damien Davis and Steven Abbott.
 
Click to enlarge
<a href="/images/stories/ston1large.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/ston1.jpg"></a>
“Having peaked in September 2009, prices in Armadale and Toorak gradually declined over 2010/2011 back to those of early 2009 levels. However, the Armadale and Toorak price medians can be skewed by several significant sales in any one quarter, which needs to be taken into consideration in suburbs with a low turnover of property.
“Despite quarterly fluctuations in the market overall, the key drivers to the desirability of these suburbs are not investor led. Access to quality schools, parkland, the availability of public transport along with easy freeway access and the superb shopping restaurant and cafe facilities on offer, ensure that property across Stonnington is tightly held,” they say.
Click to enlarge
<a href="/images/stories/ston2.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/ston2thumb.jpg"></a>
Source: <a href="https://www.jelliscraig.com.au/" target="_blank">Jellis Craig</a>'s Annual Property Review
“One of our most significant sales last year was a very large parcel of land at 343-345 Glenferrie Road, Malvern, near Stonnington Town Hall. This 2,063-square-metre allotment of prime residential property was offered with current plans and permits for quality apartments with basement parking and attracted keen developer interest. It was eventually secured by an international consortium baring testimony to confidence in longer-term development opportunities.
“Into 2012, the market in Stonnington has met with renewed enthusiasm. The amount of property enquiry is up significantly on that of late 2011, and we have already transacted a number of January and February sales, normally a quiet month in the sales calendar,” the report notes.
“Buyer sentiment is certainly significantly more positive, and we would expect this increased confidence to translate into competitive purchasing. While potentially decreasing interest rates are certainly a contributing factor to increased demand, we do not expect this to appreciably increase prices over the next 12 months but more contribute to a stabilised market best described as conservatively optimistic.”
 
 
 
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Stonnington prices eased in 2011 but are likely to pick up in 2012: Jellis Craig

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There's now a tipping website, <a style="font-size: 14px; text-align: left;" target="_blank" href="https://www.propertytycoon.com.au/">www.propertytycoon.com.au</a>, where punters can guess auction results in Melbourne, Sydney and Brisbane, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
<img src="/images/stories/musgravest.jpg">
The one-bedroom apartment at 18/24a Musgrave Street, Mosman (pictured above), featured as one of the five Sydney properties in round two of Property Tycoon's auction tipping competition, fell well short of its agent's $1.2 million expectations. It sold for $1.05 million.
"A closer look at the analysis show this property has still been an outstanding investment for its owner," says Mark Armstrong of Property Tycoon. 


Two Sydney properties in the competition were passed in.
<img src="/images/stories/mayroad.jpg">
The Melbourne property featured on Property Observer, 8/29 May Road Toorak (pictured above), also failed to meet its vendor's expectations, but the vendor was unwilling to settle for less.
"A cold and wet day in Melbourne kept the buyers away from the one-bedroom apartment in May Road, Toorak," Armstrong says. "Although there were multiple bidders the property failed to meet the vendors' expectations. The property passed in for $410,000 and also received a later offer of $420,000."
It was last sold in 2009 for $418,000 and was among three Melbourne properties that were passed in.
<img src="/images/stories/archerst.jpg">
The Brisbane property featured on Property Observer, 22 Archer Street, Gordon Park (pictured above), sold for $875,000. The agent had provided comparable sales of between $700,000 and $800,000.
"The Brisbane auction market has been on its knees this year but this result shows that good property, that is well located and presented, will always be in strong demand," Armstrong says.
All four other properties in the Brisbane competition were passed in. 
 
 
 


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Sydney and Melbourne properties fall well short of expectations in round two of auction tipping

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About two-thirds of the 617 apartments in MAB’s new development The Quays have been sold in the year year following its launch.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/quays1.jpg">
The project, in the Melbourne Docklands NewQuay precinct, is being developed by MAB and built by Brookfield Multiplex to a design by architects McBride Charles Ryan.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/quays2.jpg">
There are more than 80 configurations of one-, two- and three-bedroom apartments. One-bedroom apartments range from 49 square metres to 65 square metres, and from $365,000 to $580,000. Two-bedroom units are priced between $440,000 and $1 million, and range in size from 53 square metres and 90 square metres. And the three-bedroom apartments, ranging from 112 square metres to 120 square metres, are priced from $1 million to $1.25 million.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/quays3.jpg">
The Quays will be one of the tallest buildings in Docklands, with a striking design.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/quays4.jpg">
“Buyers are attracted to the waterfront location and striking architecture on offer,” says MAB chief operating officer David Hall.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/quays7.jpg">
Hall says the emphasis on community facilities has also been a big selling point. These include a 25-metre pool, spa, gym, yoga studio, library, business centre, private cinema, rooftop garden, tennis court and barbecue facilities.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/quays5.jpg">
“This is an iconic address, offering an amazing lifestyle and vibrant social hub for residents,” Hall says.
Construction is due to begin soon and is set to finish in mid-2013.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/stories/quays6.jpg">
Docklands units increased 3.3% in value last year, and almost all of the dwellings in the suburb are units. The suburb is young, both demographically and physically, with 56% of residents aged between 15 and 34. The suburb itself is less than 15 years old.
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Docklands development The Quays two-thirds sold after a year

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639 and 640/ 58-62 Delhi Road, North Ryde, NSW, 2113
<img src="/images/stories/delhird.jpg" style="border-style: initial; border-color: initial; max-width: 480px;"> 
These serviced apartments are leased to the Quest hotel group until 2013, with three further five-year renewal options. The properties are now returning gross rent of $36,000 per year, with a guaranteed 3.25% rental increase every year. The guaranteed rental income and extremely high rental yield could make them a good prospect for investors.
City Partners Realty agent Alex Ye <a target="_blank" href="https://www.citypartnersrealty.com.au/index.php">is marketing the properties </a>with price hopes of $400,000 plus. It is a mortgagee sale. If they sell for $400,000, that would secure an investor a gross rental yield of 9%, almost three times as high as the indicative gross rental yield for North Ryde units of 3.6%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. For this property Quest pays strata, water and council rates, the investor is only liable for a sinking fund.
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $9,000 and over five years to be $32,000.
The median unit price for North Ryde rose by 13.4% in the past year, according to RP Data.
The property will be open for inspection on Saturday, March 3 at 3.30pm and will go to auction on Wednesday, March 14 at 6pm.
For more about prices and yields in North Ryde, see the <a target="_blank" href="/news">RP Data suburb page</a>.
For another investment prospect open for inspection this weekend, see page 2.
 
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1/67 Ballarat Road, Footscray, VIC, 3011
<img src="/images/stories/ballaratrd.jpg" style="border-style: initial; border-color: initial; max-width: 480px;"> 
This two-bedroom, ground-floor apartment is currently rented at $310 per week. Its tenants are on a month-to-month lease, and their rent was raised from $300 to $310 in January. It includes a full laundry, private garden and balcony, and it is within walking distance of Footscray Gardens, Victoria University and the train station. 
Hocking Stuart agent Adam Welling<a target="_blank" href="https://www.hockingstuart.com.au/?Property-Search"> is marketing the property</a> with price hopes of $250,000 plus. If it sells for $250,000, that would secure an investor a gross rental yield of 6.5%, higher than the indicative gross rental yield for Footscray units of 4.8%, according to RP Data. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. 
<a target="_blank" href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT">Washington Brown</a> estimates the first-year tax depreciation deduction to be $3,000 and over five years to be $7,000.
The median unit price for Footscray fell by 10.1% in the past year, according to RP Data.
The property will be open for inspection on Saturday, March 3 at 10.15am and will go to auction on Wednesday, March 24 at 11.30am.
For more about prices and yields in Footscray, see the <a target="_blank" href="/news">RP Data suburb page</a>.
 
 
 
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Friday Form Guide: Yields of up to 9% in North Ryde

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Central Coast properties make up a large portion of SQM Research's list of the top 10 most discounted properties in New South Wales.
The list features one property in Magenta, one in Gorokan and two in Green Point. The last time the research firm compiled a NSW most discounted list, <a href="https://www.propertyobserver.com.au/new-south-wales/nsw-central-coast-market-in-a-slump-as-vendors-offer-discounts-sqm-research/2011101751962" target="_blank">in October last year</a>, there were also four Central Coast properties on it. However, no Central Coast properties are repeated from October's list. 
Last year's list featured two Blue Mountains properties, whereas this time around there is just one, 9 Brentwood Avenue, Blackheath, which has been on the market since February last year and featured on October's list. 
Four other discounted properties on the New South Wales list are in the Sydney suburbs – Thornleigh, Bondi Junction, Clovelly and Kyeemagh – but SQM director Louis Christopher says Sydney has been spared the price reductions apparent in many other capitals. None of these properties featured on the October list. 
"Sydney appears to be suffering a little less than other capital cities in terms of recent house price declines, which is of course in many ways good news to current Sydney home owners," Christopher says.
"Many of the homes on this list are not located in the capital city's inner and middle rings but rather in less populated localities in New South Wales where the market is obviously not as high in demand as it appears to be towards the inner-urban areas."
1
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007217761" target="_blank">1302 Birkdale Place, Magenta, NSW, 2261</a>
On the market since: June 17, 2008
Initial asking price: $700,000
Current asking price: $450,000
Reduction: 36%
Days on market: 1,341
 
 
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<h2 style="font-size: 18px; line-height: 21px; text-align: left;">2</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007736307">26a Paling Street, Thornleigh, NSW, 2120</a>
On the market since: May 16, 2009
Initial asking price: $1.1 million
Current asking price: $730,000
Reduction: 34%
Days on market: 1,008
 
3
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106483661" target="_blank">257 Avoca Drive, Green Point, NSW, 2251</a>
On the market since: May 22, 2010
Initial asking price: $1.3 million
Current asking price: $879,000
Reduction: 32%
Days on market: 637
 
 
4
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008850003" target="_blank">3 Wharf Road, Green Point, NSW, 2251</a> (pictured)
On the market since: March 5, 2011
Initial asking price: $950,000
Current asking price: $649,000
Reduction: 32%
Days on market: 350
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">5</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009290335" target="_blank">120 Glendiver Road, The Oaks, NSW, 2570</a>
On the market since: October 15, 2011
Initial asking price: $1,595,000
Current asking price: $1.1 million
Reduction: 31%
Days on market: 126
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">6</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107195829" target="_blank">9 Brentwood Avenue, Blackheath, NSW, 2785</a>
On the market since: February 26, 2011
Initial asking price: $1,425,000
Current asking price: $990,000
Reduction: 31%
Days on market: 357
 
7
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008805959" target="_blank">69/257 - 269 Oxford Street, Bondi Junction, NSW, 2022</a>
On the market since: February 12, 2011
Initial asking price: $2.5 million
Current asking price: $1.75 million
Reduction: 30%
Days on market: 371
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">8</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007871851" target="_blank">18 Marks Road, Gorokan, NSW, 2263</a>
On the market since: July 1, 2009
Initial asking price: $640,000
Current asking price: $450,000
Reduction: 30%
Days on market: 962
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<h2 style="font-size: 18px; line-height: 21px; text-align: left;">9</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009066241" target="_blank">103 General Holmes Drive, Kyeemagh, NSW, 2216</a>
On the market since: June 25, 2011
Initial asking price: $1.4 million
Current asking price: $1 million
Reduction: 29%
Days on market: 238
 
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;">10</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2009154691" target="_blank">26/44 Melrose Parade, Clovelly, NSW, 2031</a>
On the market since: August 13, 2011
Initial asking price: $1,295,000
Current asking price: $959,000
Reduction: 26%
Days on market: 189
 
<h2 style="font-size: 18px; line-height: 21px; text-align: left;"></h2>
 
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SQM Research also offers a list of the <a href="https://www.sqmresearch.com.au/top100bargains.php" title="SQM Research" target="_blank">Top 100 Biggest Bargains in Australia</a> for sale.
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Central Coast still heavily represented on SQM's most discounted properties in NSW list

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There's now a website, <a href="https://www.propertytycoon.com.au/" target="_blank" style="font-size: 14px; text-align: left;">www.propertytycoon.com.au</a>, where punters can guess auction results in Melbourne, Sydney and Brisbane, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener.
This week there was a stark contrast in auction results in Property Tycoon’s auction tipping competition for Melburne and Sydney when compared with Brisbane.

All five properties sold under auction conditions in Melbourne, with 10/28 The Righi, South Yarra, the standout result. 

“The property was purchased about 18 months ago for $485,000 and sold after a competitive bidding for $549,000,” says Mark Armstrong of PropertyTycoon. 

“That is an annual growth rate of almost 8% when the overall Melbourne property market had slipped backwards,” Armstrong points out.
<img src="/images/stories/marquis.jpg" style="border-style: initial; border-color: initial;">
The property at 20 Marquis Street, Ashburton (pictured above), sold for $1.46 million under the hammer. 

In Sydney, all five sold. Multiple bidders put their hands up for 13 Melford Street, Hurlstone Park. 

“It sold for $850,000, very close to the average Property Tycoon tip of almost $847,000. A quarter of all Tycoon tippers added this property to their portfolio,” Armstrong says.

But it was a different story in Brisbane.

“There are clear signs of a very weak market in Brisbane, with four out of five of this week’s properties failing to at auction,” Armstrong says. “Although buyers are out in the market, very few are prepared to put up their hands at auction. The clear view of Brisbane buyers is to sit back and wait to see what happens and try and negotiate a deal in the weeks following.”
<img src="/images/stories/ottanee.jpg" style="border-style: initial; border-color: initial;">
He points to the property at 159a Mt Ommaney Drive, Jinadlee (pictured above) as a prime example, “with a number of buyers registering their interest for the impressive family home, but when push came to shove the property failed to attract a single bid”. 

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Stark contrast between Brisbane and other capitals in round one of auction tipping

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20/21 Sutherland Street, Cremorne, NSW, 2090
<img src="/images/stories/sutherland.jpg" style="border-style: initial; border-color: initial;"> 
In The Links building in Cremorne, this two-bedroom unit is currently leased until November 2012 at $500 per week. Listing agent Fran Turner of Croll Real Estate says the tenants have been in place for 12 years and are playing significantly below market rent. She says a rental analysis of the property indicates it could be rented out for between $650 and $680 per week. It features views over Willoughby Bay and the surrounding district, laundry and 103 square metres of living space. 
Turner<a href="https://www.croll.com.au/dbpage.php?pg=view&amp;dbase=listings&amp;id=787115" target="_blank"> is marketing the property</a> with price hopes of $730,000 plus.  If it sells for $730,000, its current rent would secure an investor a gross rental yield of 3.6%, below the indicative gross rental yield for Cremorne units of 4.2%, according to RP Data. A rental of $680 per week would equate to a gross rental yield of 4.8%. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees. Levies are $1,340 per quarter, council rates are $187 per quarter and water rates are $142 per quarter.
The median unit price for Cremorne rose by 5.6% in the past year, according to RP Data.
The property will be open for inspection on Saturday, February 25 at 11.30am and will go to auction on Saturday, March 10 at 12.15pm.
For more about prices and yields in Cremorne, see the <a target="_blank" href="/news">RP Data suburb page</a>.
For another investment prospect open for inspection this weekend, see page 2.
 
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 4 Fitzroy Court, Endeavour Hills, VIC, 3802
<img src="/images/stories/endeavourhills.jpg" style="border-style: initial; border-color: initial;">
This three-bedroom house is currently tenanted at $270 per week, and the lease has expired. Ray White agent Daniel Pepperell says a new lease could be signed for the house at between $300 and $320 per week. All three bedrooms include built-in wardrobes, and it is close to Chalcot Lodge Primary School, the M1 Freeway and Endeavour Hills Shopping Centre.
Pepperell <a target="_blank" href="https://www.raywhite.com/vic/endeavour-hills/743210/">is marketing the property</a><a href="https://www.century21.com.au/c21/propertySearch/brochure.cfm?grplstno=VIC619037&amp;listing=residential&amp;buyrent=buy&amp;sbrb=BrightonEast&amp;State=ViC&amp;pcde=3187" target="_blank"> </a>with price hopes "in the low to mid $300,000s". If it sells for $320,000, its current rental would secure an investor a gross rental yield of 4.4%, above the indicative gross rental yield for Endeavour Hills houses of 4.2%, according to RP Data. If it were rented at $320 per week, that would equate to a gross rental yield of 5.2%. The gross rental yield does not consider the costs of maintaining the property, including council rates and other fees such as water bills and managing agent fees.
The median price for Endeavour Hills increased 3.8% in the past year, according to RP Data.
The property is open for inspection on Saturday, February 25 at noon and will go to auction on Saturday, March 17 at 1.30pm.
For more information about yields and prices in Endeavour Hills, see the <a target="_blank" href="/news">RP Data suburb page</a>.
 
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Friday Form Guide: Yields of up to 4.8% in Cremorne

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<img src="/images/stories/406500.gif">
The median house price in Mornington and surrounds, according to Residex. This is up 0.7% on the previous year.
 
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The median house price in Geelong and surrounds, according to Residex. This is up 6.3% on the previous year.
 
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The median house price in Berwick, according to Residex. This is up 7.1% on the previous year.
 
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The median house price in Castlemaine, according to Residex. This is up 5.4% on the previous year.
 
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<img src="/images/stories/278500.gif">
The median house price in Warrnambool, according to Residex. This is up 1.2% on the previous year.
 
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<img src="/images/stories/273500.gif">
The median house price in Bendigo, according to Residex. This is up 6.6% on the previous year.
 
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<img src="/images/stories/261500.gif">
The median house price in Wodonga, according to Residex. This is up 6% on the previous year.
 
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<img src="/images/stories/245000.gif">
The median house price in Moe, according to Residex. This is up 4.6% on the previous year.
 
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<img src="/images/stories/233000.gif">
The median house price in Shepparton, according to Residex. This is up 6.2% on the previous year.
 
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The median house price in Portland, according to Residex. This is up 5.4% on the previous year.
 
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The median house price in Mildura, according to Residex. This is up 3.9% on the previous year.
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Mornington pips Geelong in regional house prices: Residex - 12 localities from dearest to cheapest

A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.

The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.

[smartcode_project:default project_id=150454 project_image_fid=364156]

Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.

“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.

That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.

The absence of holiday letting within the building has also resonated strongly with purchasers.

“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”

[smartcode_project:default project_id=150454 project_image_fid=366491]

The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.

“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.

“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”

[smartcode_project:default project_id=150454 project_image_fid=366486]

Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.

Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.

A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.

The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.

&nbsp;

To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.

[smartcode_project_cta:default project_id=150454]

Joel Robinson

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

[smartcode_project:default project_id=139552 project_image_fid=371017]

Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

[smartcode_project_cta:default project_id=139552]

Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

[smartcode_project:default project_id=149594 project_image_fid=362634]

While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Why Hyecorp continues to back Sydney's Lower North Shore apartment market

South East Queensland’s apartment market is entering a new phase defined by rising prices, constrained affordability, and mounting pressure on the construction pipeline, according to RPM Group’s latest SEQ Apartments &amp; Townhomes Market Report.

The May 2026 report highlights a widening divide between what buyers can afford and what developers can viably deliver, with detached house prices continuing to push more buyers toward apartments across Brisbane, the Gold Coast, and the Sunshine Coast.

RPM says Brisbane’s median house price has reached around $1.5 million, accelerating the shift toward higher-density housing as buyers are increasingly priced out of the detached market.

[smartcode_project:default project_id=135094 project_image_fid=356540]

Median unit prices rose across all three major SEQ markets in the March quarter. Brisbane City recorded the strongest annual growth, with median unit prices climbing 21 per cent to $862,000, while the Gold Coast reached the highest overall median at $950,000, up 17 per cent year-on-year. The Sunshine Coast followed at $870,000, representing annual growth of nine per cent.

RPM noted the affordability gap between houses and units remains significant, with detached homes commanding premiums of 67 per cent in Brisbane and 68 per cent on the Gold Coast relative to apartments.

The report suggests this price disparity is increasingly consolidating buyer demand within the apartment market, particularly among downsizers and owner-occupiers.

“Demand is real. Supply is moving. But they’re operating on different timelines and the gap between what’s being built and what buyers can afford is the defining tension in this market right now,” RPM Queensland and NSW Managing Directors Peter Neale and Clinton Trezise said in the report.

[smartcode_project:default project_id=150787 project_image_fid=366230]

While approvals and commencements are strengthening, RPM argues the delivery pipeline remains constrained by construction costs, labour shortages, and extended build timelines.

Apartment approvals across Queensland increased 86 per cent over the year to February 2026, reaching 12,682 approvals, the highest level recorded since 2016. Brisbane overtook the Gold Coast as the state’s most active apartment approval market, with nearly 5,000 apartments approved over the past 12 months.

Unit commencements also strengthened considerably, rising 48 per cent year-on-year to 5,453 commencements in the December 2025 quarter, the highest level since 2018.

However, RPM’s research found apartment delivery timeframes have expanded sharply compared to the previous cycle. Projects are now averaging around 30 months from approval to completion, compared to roughly 20 months a decade ago.

[smartcode_project:default project_id=143932 project_image_fid=367515]

The number of units under construction has climbed to approximately 31,530 dwellings, nearing the previous 2016 peak, though projects are remaining in the pipeline for considerably longer.

Construction costs continue to weigh heavily on feasibility. RPM found the average apartment construction cost in Greater Brisbane reached $630,000 per dwelling in 2025, exceeding both Sydney and Melbourne. Coastal Queensland markets, including the Gold Coast and Sunshine Coast, were even higher at an average of $817,418 per apartment due to the prevalence of larger premium product.

The report also points to increasing pressure from Olympic-related infrastructure spending ahead of Brisbane 2032, with labour competition expected to intensify over the next several years.

[smartcode_project:default project_id=150017 project_image_fid=370960]

ANZ Associate Director of Property Daniel Gradwell said the underlying demand drivers across South East Queensland remain strong, supported by interstate migration, downsizers, and population growth.

“The challenge is bringing enough supply to market to meet that demand, and nothing on the horizon makes that straightforward,” Gradwell said.

RPM’s analysis found the affordability challenge is becoming more pronounced in the new apartment market itself, with only three per cent of surveyed new apartments priced below $1 million.

Instead, the market is increasingly concentrated in higher price brackets, with the most common new apartment price band across SEQ sitting between $1.5 million and $1.75 million. Around half of all new apartment stock surveyed is priced below $2 million.

The report suggests developers are not necessarily avoiding lower price points by choice, but because current construction economics make delivering affordable apartments increasingly difficult at scale.

Rental conditions also remain tight across the region. Median rents for one-bedroom apartments rose 12 per cent in Brisbane over the past year to $580 per week, while Gold Coast one-bedroom rents increased nine per cent to $630.

Despite rising rents, RPM noted bond lodgements have generally trended downward over the past five years, indicating more apartments are being absorbed by owner-occupiers rather than retained as investor-held rental stock.

Looking ahead, RPM expects projects targeting the mid-market owner-occupier segment between $1.25 million and $2 million to remain the most viable part of the market, while premium projects in highly constrained coastal or riverfront locations continue to attract demand.

“Construction costs are rewriting the feasibility rulebook across Greater Brisbane, and with little relief in sight, only projects in the right price band, right location, and with presales secured early will make it through,” the report concludes.

SEQ apartment demand outpacing affordable supply as construction timelines stretch: RPM

Camberwell Junction has long been the epicentre of amenity in Melbourne’s Boroondara region.

For nearly a century, it has drawn both locals and visitors, anchored by the Camberwell Sunday Market, which first operated in 1929 and quickly became a fixture of the suburb’s identity. Over time, the Junction evolved into one of Melbourne’s most established retail and lifestyle precincts, now comprising more than 400 stores and over 300 commercial businesses.

Despite that depth of amenity, one thing has remained notably limited: the supply of new apartments.

In a suburb defined by its heritage streetscapes and tightly held residential stock, new development opportunities have been scarce, particularly within the core of the Junction itself. That lack of supply has left a gap in the market for larger, design-led apartments suited to downsizers and owner-occupiers wanting to remain in the area.

Boutique developer Above Zero identified that gap when it secured a prime site on Burke Road, in the heart of Camberwell Junction.

[smartcode_project:default project_id=4896 project_image_fid=368543]

The site has a long planning history. Various proposals have been put forward over more than a decade, many of which were knocked back by the City of Boroondara, with initial applications dating back to 2015. Above Zero acquired the site in 2022 and returned with a revised scheme, refining both the building’s height and its ground-level interface to better align with Council expectations.

That process has culminated in approval for Camberwell House.

The Cera Stribley-designed development will deliver 57 residences on a 1,950 sqm site within the Camberwell Activity Centre, placing it directly within one of Melbourne’s most established retail and transport hubs.

It is expected to be one of the only new apartment developments to launch in the Junction in recent years, reinforcing the rarity of new supply in the precinct. Currently, there are just a handful of projects on the market in Camberwell, underscoring the significance of a development of this scale and positioning.

[smartcode_project:default project_id=4896 project_image_fid=368544]

Camberwell House has been conceived with a clear focus on larger-format apartments. The project will offer a mix of two-, three- and four-bedroom residences, alongside a limited number of penthouses, targeting owner-occupiers seeking scale rather than volume-driven product.

The building’s vertical presence will also set it apart.

Positioned on Burke Road, the development is set to become one of the taller buildings in its immediate context, allowing for elevated outlooks across Melbourne’s CBD skyline and toward the Dandenong Ranges. In a precinct characterised by lower-scale built form, that height provides a point of differentiation, particularly for buyers seeking outlook and natural light.

[smartcode_project:default project_id=4896 project_image_fid=368568]

Architecture has been led by Cera Stribley, with interiors by GOLDEN and landscape design by Florian Wild. The design approach centres on material consistency and restraint, with residences oriented to maximise light, ventilation and connection to outdoor spaces.

Full-height glazing and generous terraces form a key part of that strategy, allowing apartments to extend beyond their internal footprint and engage with the surrounding environment.

Beyond the private residences, a significant component of the project is its amenity offering.

Above Zero has positioned Camberwell House as a “complete living environment”, incorporating a full floor dedicated to resident facilities. At the centre of that is a wellness zone, including a 12.5-metre lap pool, spa, sauna and treatment spaces, alongside a gym and recovery-focused amenities.

This level of amenity is more commonly associated with inner-city developments, rather than established middle-ring suburbs like Camberwell.

[smartcode_project:default project_id=4896 project_image_fid=368588]

Additional shared spaces include a private library lounge, dining and entertaining areas, and an indoor golf simulator. A self-contained guest suite has also been incorporated, allowing residents to accommodate visiting family or friends without impacting their primary living space.

The inclusion of these facilities reflects a broader shift in buyer expectations.

As more downsizers look to transition from larger family homes into apartments, there is increasing demand for developments that offer not just a residence, but a lifestyle. That includes access to wellness, social and entertaining spaces within the building itself, reducing the reliance on external amenity while still maintaining proximity to established precincts.

Camberwell House is positioned to benefit from both.

Its location places it within immediate walking distance of Camberwell Junction’s retail and dining offering, as well as public transport connections, including tram and train services. That combination of internal amenity and external convenience is central to its appeal.

<section data-scroll-anchor="false" data-testid="conversation-turn-150" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-74" dir="auto">
Jellis Craig Projects Director Stephen Bowtell is handling sales for the project and says Camberwell House offers a rare entry point into one of Melbourne’s most tightly held markets.

“Buyers are recognising that Camberwell House offers something they simply haven’t seen before in Boroondara,”&nbsp;Bowtell&nbsp;says.

“It combines a level of resident amenity and service typically associated with Melbourne’s premium inner-city developments, while being positioned right in the heart of Camberwell Junction.

“The response to the concierge offering has been particularly strong. Buyers appreciate not only the convenience, but also the sense of security and peace of mind that comes from having a dedicated presence in the building every day.

“When you combine that with the wellness facilities, the exceptional arrival experience, and panoramic views across both the CBD skyline and the Dandenong Ranges, it creates a lifestyle proposition that is genuinely unique within the local market.”
</section>

[smartcode_project_cta:default project_id=4896]

Cassidy Knowlton

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