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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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The median house price in Warrnambool, according to Residex. This is up 1.2% on the previous year.
 
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The median house price in Bendigo, according to Residex. This is up 6.6% on the previous year.
 
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The median house price in Wodonga, according to Residex. This is up 6% on the previous year.
 
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The median house price in Moe, according to Residex. This is up 4.6% on the previous year.
 
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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

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Cassidy Knowlton

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