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3 Evans Street, Belmont, VIC, 3216
<img src="/images/stories/evansst.jpg" style="border-style: initial; border-color: initial;"> 
This three-bedroom property in the Geelong suburb of Belmont is tenanted at $18,200 per year until January 2012, and sold at auction on Saturday, November 5 for $379,000. There were three bidders. Listing agent Phillipa Gartland of <a target="_blank" href="https://www.gartland.com.au/index.cfm?pagecall=property&amp;propertyID=1878081">Gartland Real Estate</a> marketed the property with price hopes of about $370,000 plus (the vendor recently declined an offer of $350,000). That reflects a gross rental yield of 4.8%, which is at the indicative gross rental yield for Belmont 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. The house is within walking distance of High Street shopping precinct and is a 15-minute drive to the coast. <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 $6,000 and over five years to be $13,000. 
For more information about prices and yields in Belmont, see the <a href="/news">RP Data suburb page</a>.
For more investment prospects going to auction this weekend, see pages 2 and 3.
 
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14/14 Crimea Street, St Kilda, VIC, 3182
<img src="/images/stories/crimeast.jpg">
The tenant of this one-bedroom St Kilda apartment is paying $265 per week and is on a month-to-month lease but is keen to stay. It sold in post-auction negotiations for $301,000 after being passed in at $275,000. Listing agent Rohan White of <a target="_blank" href="https://www.buxton.com.au/">Buxton Real Estate</a> marketed the property with price hopes of $270,000 plus before auction and says it would be perfect for investors. The sale reflects a gross rental yield of 4.6%, higher than the indicative gross rental yield for St Kilda units of 4.1%, 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.  The unit is within walking distance of trams, Windsor train station and Albert Park. <a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $5,000 and over five years to be $14,000. 
For more information about yields and prices in St Kilda, see the<a target="_blank" href="/news"> RP Data suburb page</a>.
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20 Betts Street, Parramatta, NSW, 2150
<img src="/images/stories/bettsst.jpg">
All five units in this block are tenanted, and their combined rent brings in $92,040 in total gross income per year. All five are two-bedroom units and include internal laundries. All but one are on month-to-month leases, according to <a href="https://www.randw.com.au/119011/" target="_blank">Richardson &amp; Wrench</a> agent Abraham Gench. The property was passed in at auction on a bid of $1.81 million on Saturday, November 5, and has a reserve of $2.1 million. If it sells for $2.1 million that would secure an investor a gross rental yield of 4.4%, slightly less than the indicative gross rental yield for Parramatta 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. Council rates are $4,273 per year for the property, and water fees are $5,502 per year. The property is only a short walk to Parramatta city centre. <a href="https://calc.washingtonbrown.com.au/wbdcalculator/calculator.aspx?RID=HPCAZOPTTT" target="_blank">Washington Brown</a> estimates the first-year tax depreciation deduction to be $45,000 and over five years to be $145,000. 
For more about yields and prices in Parramatta, see the<a target="_blank" href="/news"> RP Data suburb page</a>.
 
 
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Weekend Yield Watch: Gross yields of 4.8% in Belmont

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By the reaction in the media, yesterday's rate cut by the Reserve Bank is the greatest thing since, well, the last rate cut 31 months ago. It's going to boost <a href="https://www.smh.com.au/business/retail-likes-rate-cut-20111101-1mtvg">retail</a>, <a href="https://smh.domain.com.au/boost-for-home-owners-as-banks-pass-on-rate-cut-20111101-1mtzj">housing</a> and even <a href="https://www.news.com.au/money/interest-rates/christmas-cheer-over-latest-rates-cut/story-e6frfmn0-1226183081358">Christmas</a>. Truly a miracle.
Yet all this reaction, and that on TV and radio yesterday and this morning, completely misses several important points.
The first is that the rate cut will cause the banks to cut their deposit rates, meaning savers will have less income, especially those who depend on fixed income from bank term deposits, such as pensioners and superannuants.
Secondly, the cut will, if it sparks a halt to the current slide in housing prices across all capital cities (they fell 1.2% in the September quarter, according to the Australian Bureau of Statistics and 2.2% in the 12 months to the same quarter), then house prices will start rising, thereby ending the small improvement in housing affordability we are currently witnessing.
But more importantly, the group of people who will get relief from the lower cost of their housing and other loans is much smaller than you thought.
If only our pundits in the Fairfax and News Limited press, plus the ABC, had read the Reserve Bank's Financial Stability reports, such as the <a href="https://www.rba.gov.au/publications/fsr/2011/sep/pdf/house-bus-bal-sheet.pdf">second one for 2011</a> released in late September they would have found something to their interest, and changed their reporting yesterday and today.
Put simply, many Australians are deleveraging and saving more. The higher savings are well known, but not too many of our pundits have bothered to think about how that is being achieved; it is not just a case of saving more money in their accounts ($12 billion extra in September)
Australian mortgagees are repaying more than the minimum on their housing loans, and credit card holders are also repaying their credit card loans faster than they have to. As the RBA explained in the September Stability Review:
"Contributing to the slower pace of debt accumulation, some households are saving more by choosing to pay down their debt more quickly than required.
"Net repayments on credit cards have picked up in recent months. Many housing loan borrowers have continued to make substantial excess principal repayments, even as higher interest rates have raised required interest -- and thus total -- repayments.
"The average excess repayment is currently equivalent to around three-quarters of the scheduled total (principal plus interest) repayment. Consistent with this tendency to pay debt ahead of schedule, surveys have shown that a high share of households consider repaying debt to be the wisest place for savings.
"Households that make excess repayments on their home loans generally build up buffers that they can draw down in the future if required. This should be regarded as a positive development for the resilience of the sector. These shifts in saving and borrowing behaviour have in part been enabled by a favourable labour market and solid income growth.
"Growth in gross income therefore outpaced the impact of higher interest payments, such that growth in real disposable income per household (after interest payments) also strengthened, to 3.3 per cent over the year to the June quarter, up from 2.3 per cent over the year to the December 2010 quarter.
"This increases the resilience of households to shocks, relative to countries where it is less common to do so. As well as providing a cushion against changes in borrowers’ financial circumstances, excess repayments increase the distance between the remaining loan balance and a property value that could be lower in the future, making negative equity positions less likely."
These trends are also ignored by the same writers when they warble on about the rising level of mortgage stress. Mortgage stress has always been with us, no matter the state of interest rates; some people who have lost jobs, seen pay cut or are starting out on the home buying treadmill feel it more than others.
But how can mortgage stress be a problem when a large proportion of people with mortgages are paying off those mortgages faster than they can? In other words, they are paying back more than the minimum, which is always recommended by advisers because it builds up buffers and reduces the principal faster than it would normally be reduced.
The fact that Australians with mortgages are repaying their loans faster is also ignored by the doom and gloomers who predict a nasty fall in property prices and a re-run of what we have seen overseas. They include Professor Steve Keen.
And finally, the most desperate piece of marketing came from Fairfax property website Domain, which sent <a href="https://view.email.domain.com.au/?j=fe6815757367057d7610&amp;m=fecb15717d62067f&amp;ls=fde511727c6000787d137970&amp;l=fe9c157177600c7c77&amp;s=fe281c7574640379771177&amp;jb=ffcf14&amp;ju=fe2715797c61017b741672&amp;r=0">this email</a> to registered users yesterday afternoon:
<a target="_blank" href="https://view.email.domain.com.au/?j=fe6815757367057d7610&amp;m=fecb15717d62067f&amp;ls=fde511727c6000787d137970&amp;l=fe9c157177600c7c77&amp;s=fe281c7574640379771177&amp;jb=ffcf14&amp;ju=fe2715797c61017b741672&amp;r=0"><img src="/images/stories/dyernov3.jpg"></a>
"This fall in rates will be greatly appreciated by households as it will put an extra $60 into their pockets each month," said Domain property expert Carolyn Boyd. Talk about desperation.
The reality is that most mortgage holders will simply leave their payments unchanged and effectively repay their loan by an extra $60 a month or whatever the saving is on their mortgage.
This article originally appeared on <a target="_blank" href="https://www.crikey.com.au/">Crikey</a>.
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The great mortgage stress myth: We're paying off our homes faster

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The Tasmanian property market, slow at the best of times, has turned positively glacial, as SQM Research’s list of the most discounted properties in Tasmania shows.

SQM director Louis Christopher points out that the most discounted home in Tasmania, 588 White Beach Road, White Beach, has been on the market for more than a year despite numerous incentives to try to secure a buyer. 

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">"Having already spent well over a year on the market, it seems that even price slashes totalling $380,000 as well as offering the home completely furnished has done little to attract significant buyer interest for this waterfront property," Christopher says.

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">Six of the 10 properties on SQM's list of the most discounted properties in Tasmania have been on the market for more than a year, and all have been on the market for more than 200 days. 

Hobart house prices have fallen 1% during the September quarter, which Christopher says is to be expected as the market continues to decline.

<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">Christopher says the most recent fall is "in line with our original predictions that Hobart house prices will decline anywhere from 1.5% to 3.5% by the end of the 2011 calendar year".
<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;">According to RP Data's Tim Lawless <a href="/news">the market is struggling as tree-changers are no longer moving to Tasmania</a>.
<p style="background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: white; background-position: initial initial; background-repeat: initial initial;"> 
<h2 style="font-size: 18px; line-height: 21px;">1</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106479093" target="_blank">588 White Beach Road, White Beach, Tasmania, 7184</a>
On the market since: May 23, 2010
Initial asking price: $780,000
Current asking price: $400,000
Reduction: 49%
Days on market: 518
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">2</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008491614" target="_blank">25 Vicary Street, Triabunna, Tasmania, 7190</a>
On the market since: August 2, 2010
Initial asking price: $299,000
Current asking price: $189,000
Reduction: 37%
Days on market: 449
 
3
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008743860">2 Duke Street, Geeveston, Tasmania, 7116</a>
On the market since: December 20, 2010
Initial asking price: $225,000
Current asking price: $160,000
Reduction: 29%
Days on market: 309
 
<h2 style="font-size: 18px; line-height: 21px;">4</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008795499">10 Lovell Road, Crabtree, Tasmania, 7109</a>
On the market since: February 7, 2011
Initial asking price: $799,000
Current asking price: $600,000
Reduction: 25%
Days on market: 260
 
<h2 style="font-size: 18px; line-height: 21px;">5</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008887920" target="_blank">128 Sandy Bay Road, Sandy Bay, Tasmania, 7005</a>
On the market since: March 21, 2011
Initial asking price: $795,000
Current asking price: $600,000
Reduction: 25%
Days on market: 218
 
<h2 style="font-size: 18px; line-height: 21px;">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%3D106224707" target="_blank">26 Glenbervie Road, Dover, Tasmania, 7117</a>
On the market since: December 27, 2009
Initial asking price: $250,000
Current asking price: $190,000
Reduction: 24%
Days on market: 665
 
<h2 style="font-size: 18px; line-height: 21px;">7</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106859302" target="_blank">37 Islington Road, Montrose, Tasmania, 7010</a>
On the market since: December 3, 2010
Initial asking price: $380,000
Current asking price: $290,000
Reduction: 24%
Days on market: 385
 
 
<h2 style="font-size: 18px; line-height: 21px;">8</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008866998" target="_blank">14 Castlereagh Court, Lenah Valley, Tasmania, 7008</a> (pictured)
On the market since: March 14, 2011
Initial asking price: $550,000
Current asking price: $425,000
Reduction: 23%
Days on market: 225
 
<h2 style="font-size: 18px; line-height: 21px;">9</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007685342" target="_blank">5090 Tasman Highway, Buckland, Tasmania, 7190</a>
On the market since: May 18, 2008
Initial asking price: $250,000
Current asking price: $195,000
Reduction: 22%
Days on market: 1,255
 
<h2 style="font-size: 18px; line-height: 21px;">10</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2006781491" target="_blank">22 Beach Street, White Beach, Tasmania, 7184</a>
On the market since: July 1, 2008
Initial asking price: $250,000
Current asking price: $195,000
Reduction: 22%
Days on market: 1,211
 
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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Hobart houses still struggling to sell, despite discounts: SQM

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{yoogallery src=[images/stories/november1noosaheads]}
A five-bedroom, four-bathroom plantation-style house in Noosa Heads has been listed with price hopes of $3.95 million. 
The vendor is Tom Forde, owner of LJ Hooker Commercial Noosa and now an LJ Hooker residential branch in Noosa. 
The 21,000-square-metre sprawling property includes two separate one-bedroom cabanas, a lagoon-style swimming pool with pool bar, tennis court and gym all against a rainforest backdrop.
Forde, now an empty-nester, plans to downsize to a location closer to the beach. 
Graeme Halsey from <a href="https://www.ljhooker.com.au/2HD3" target="_blank">LJ Hooker Noosa</a> is marketing the property.
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Resort-style plantation in Noosa Heads listed for $3.95 million

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2/14 Hewlett Street, Granville, NSW, 2142
<img src="/images/stories/hewlett.jpg"> 
This two-bedroom apartment in the Sydney suburb of Granville includes a car space and is tenanted at $340 per week. The lease is currently expired but the tenant is keen to stay on, and a relatively high yield could make the property attractive to an investor. <a target="_blank" href="https://www.runproperty.com.au/buying">Run Property</a> agent Rebecca Hall is marketing the property with price hopes of $285,000 plus. If it sells for $285,000 that would secure an investor a gross rental yield of 6.2%, about the same as the gross indicative rental yield for Granville apartments of 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. Council rates are approximately $224 per quarter, Sydney Water rates are approximately $157 per quarter, and strata levies are approximately $479 per quarter. <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 $4,000 and over five years to be $9,000. The property is close to schools, shops and the train station. It was passed in on a vendor's bid of $280,000 at auction on October 29 and is in negotiations. 
For more information about yields and prices in Granville, see the <a target="_blank" href="/news">RP Data suburb page</a>.
For more investment prospects going to auction this weekend, see pages 2 and 3.
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402/2 Jones Bay Road, Pyrmont, NSW, 2009
<img src="/images/stories/jonesbay.jpg"> 
This one-bedroom apartment with Harbour Bridge views is tenanted at $500 per week and includes a car space. <a target="_blank" href="https://www.khoandlee.com.au/properties/505522/details">Kho and Lee Property Group</a> agent Sami Yildiz is marketing the unit with price hopes in the "early $500s", about $510,000 or $520,000 plus. If it sells for $510,000 that would equate to a gross rental yield of 5.1%, about the same as the indicative gross rental yield for Pyrmont apartments of 5%. 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 $13,000 and over five years to be $40,000. The building includes a gym and a swimming pool, and it is within walking distance of Darling Harbour. The unit was withdrawn from auction shortly before it was due to go under the hammer on October 29 and is in negotiations. 
For more information about prices and yields in Pyrmont, see the <a target="_blank" href="/news">RP Data suburb page</a>.
 
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5 Oakton Close, Wheelers Hill, VIC, 3152
<img src="/images/stories/oaktonclose.jpg">
In a cul-de-sac, this two-bedroom, two-bathroom property is tenanted at $380 per week until the end of the year. <a href="https://mcdonaldre.co/details/?pid=503104" target="_blank">McDonald Real Estate</a> agent Brian Grace is marketing the property with price hopes of $585,000 plus, and if it sells at that price it would secure an investor a gross rental yield of 3.5%, about the same as the indicative gross rental yield for Wheelers Hill houses of 3.2%, 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 $5,000 and over five years to be $12,000. The property is within easy walking distance of Wheelers Hill Secondary Collegeand is close to Brandon Park and Waverley Gardens shopping centres. The property was passed in on a vendor's bid of $565,000 at auction on October 29. It had an earlier bid of $540,000 and had a reserve of $585,000. The property remains for sale.
For more about prices and yields in Wheelers Hill, see the <a href="/news">RP Data suburb page</a>.
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Weekend yield watch: Yields of up to 6.2% in Granville as none of Form Guide properties sell

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{yoogallery src=[images/stories/october27johnhughes]}
The Chicago house that belonged to the late John Hughes, director of seminal 1980s teen films such as Ferris Bueller's Day Off, Pretty in Pink and The Breakfast Club, has been listed for sale with price hopes of US$5.89 million.
The 1,044-square-metre six-bedroom house a block from Lake Michigan features high ceilings, hardwood floors, four bluestone terraces, a three-car heated garage, a swimming pool and landscaped grounds. 
Hughes made his directorial debut with Sixteen Candles in 1984 and had considerable commercial and critical success with a string of teen-oriented movies, all set in the suburbs. He also wrote and produced Home Alone. Hughes never moved to Hollywood and lived in Chicago until his death in 2009.
The property is listed through <a href="https://www.coldwellbankeronline.com/property/details/2321028/MLS-07926890/855-East-Westminster-Avenue-Lake-Forest-IL-60045.aspx?SearchID=4752570&amp;RowNum=8&amp;StateID=19&amp;RegionID=0&amp;IsRegularPS=True&amp;IsSold=False" target="_blank">Caldwell Banker</a> agent Ann Lyon.
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Ferris Bueller director John Hughes' former house on the market

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Documents released by the RBA under freedom of information laws show the central bank is concerned about households who took out loans in the period between 2004-2007, when property prices were at their height, fearing they may be "overstretched".

The release of the documents comes just weeks after separate data indicated that many households who purchased homes in the last decade actually returned to renting, prompting fears they had taken out loans that were too large to service.
The documents show the RBA was told in March that there are a number of problems facing the housing market, with a number of areas facing a higher level of arrears.
"Even though the pace of debt accumulation has moderated in recent years, aggregate household indebtedness and gearing remain around historically high levels," it was told.
"This means some households could be exposed to shocks to their incomes and financial circumstances. A continuation of the recent borrowing restraint would thus be a welcomed development, as it would add further resilience into household balance sheets and avoid a build-up of risk in the household financial position."
It was also told that the rise in arrears in Queensland was occurring well before the Queensland floods, "and is consistent with the higher-than-average unemployment rate and weaker property market in the state".
These findings gel with a separate report from the RMIT Research Centre of the Australian Housing and Urban Research Institute, which found that 20% of home owners who bought a property between 2001-09 actually dropped out of ownership at one point, suggesting some of these households found property too expensive to maintain.
Those findings also come after the big four banks expressed some concern over over-stretched households.
CLSA Australia analyst Brian Johnson says while arrears have remained low, Australian households still face incredibly high levels of debt.
"You have never seen indebtedness like you see it now. What we also saw was a dramatic increase in interest rates from the lows of 2008 and 2009. Over and above that, margins have increased by 125 basis points."
"If you talk to mortgage insurers they will tell you loans don't default in their first or second year, it's after that, up to six years. We may be starting to see that now."
Johnson says employment in some industries has remained shaky, pointing to the rise in unemployment two months ago. "Job security is an issue at the present time," he says.
However, the RBA was also told that households are handling that debt quite well. Experts say the level of arrears has remained quite low, helped by the banks' tightening of lending standards and strict LVRs, and note it will continue to do so if employment remains high.
Johnson says as long as employment remains high, mortgage arrears will stay in check, but he notes many industries are suffering, and says ultimately it will come down to how the Government and Reserve Bank handle any housing crisis.
"If you were to get the start of a dramatic fall in housing prices, they would be aggressively cutting interest rates."
HIA economist Harley Dale says he believes the industry is a "long way off" from any problem that would cripple the industry.
This article originally appeared on <a href="https://www.smartcompany.com.au/economy/20111025-rba-warned-of-over-stretched-mortgage-holders" target="_blank">SmartCompany</a>.
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RBA warns of overstretched mortgage holders

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As it releases a list of the top 10 most discounted properties in Western Australia, SQM Research notes that the discounting occurring in Perth has been a little more severe than some of the other capital cities.
"We have often featured Perth homes possessing massive discounts in our national top 10 as well as homes from Perth which have spent an excessive amount of time on the market," SQM Research director Louis Christopher says. 
He says Perth's housing market is the weakest among Australian capital cities and says it is likely to bottom out next year.
"In terms of the Perth housing market in general, SQM Research forecasts that it will likely post the biggest falls of the capital cities for 2011 between 7.8% and 9.8%. If the economy manages to scrape through next year, house prices for Perth are likely to bottom out and we will not see further substantial declines," Christopher says.
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<div>
<h2 style="font-size: 18px; line-height: 21px;">1</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107366585">146 Maddington Road, Maddington, WA, 6109</a>
On the market since: April 30, 2011
Initial asking price: $5.5 million
Current asking price: $3.5 million
Reduction: 36%
Days on market: 126
 
<h2 style="font-size: 18px; line-height: 21px;"></h2>
<h2 style="font-size: 18px; line-height: 21px;">2</h2>
<a href="&lt;http:/sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2007193295" target="_blank">290 Viveash Road, Swan View, WA, 6056</a>
On the market since: June 5, 2008
Initial asking price: $2.29 million
Current asking price: $1.5 million
Reduction: 34%
Days on market: 1,187
 
3
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107391748" target="_blank">4 Shoran Court, Ocean Reef, WA, 6027</a>
On the market since: May 14, 2011
Initial asking price: $990,000
Current asking price: $695,000
Reduction: 30%
Days on market: 112
 
<h2 style="font-size: 18px; line-height: 21px;">4</h2>
<a href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106243474" target="_blank">4/19 Broome Street, Cottesloe, WA, 6011</a>
On the market since: January 10, 2010
Initial asking price: $1.2 million
Current asking price: $850,000
Reduction: 29%
Days on market: 601
 
<h2 style="font-size: 18px; line-height: 21px;">5</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008488770">19/1 North Lake, Alfred Cove, WA, 6154</a>
On the market since: July 26, 2010
Initial asking price: $1.18 million
Current asking price: $849,000
Reduction: 28%
Days on market: 406
 
<h2 style="font-size: 18px; line-height: 21px;">6</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106289694">309 Scarborough Beach Road, Woodlands, WA, 6018</a>
On the market since: February 7, 2010
Initial asking price: $1.1 million
Current asking price: $795,000
Reduction: 28%
Days on market: 573
 
<h2 style="font-size: 18px; line-height: 21px;">7</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106544887">1/43 Preston Point Road, East Fremantle, WA, 6158</a>
On the market since: May 23, 2010
Initial asking price: $1.1 million
Current asking price: $800,000
Reduction: 27%
Days on market: 468
 
 
<h2 style="font-size: 18px; line-height: 21px;">8</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.domain.com.au%2FPublic%2FPropertyDetails.aspx%3Fadid%3D2008749778">227 Franklin Road, Wanneroo, WA, 6065</a> (pictured)
On the market since: December 27, 2010
Initial asking price: $1.5 million
Current asking price: $1.095 million
Reduction: 27%
Days on market: 252
 
<h2 style="font-size: 18px; line-height: 21px;">9</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D106857522">21 Robertson Road, Ledge Point, WA, 6043</a>
On the market since: September 25, 2010
Initial asking price: $880,000
Current asking price: $649,000
Reduction: 26%
Days on market: 357
 
<h2 style="font-size: 18px; line-height: 21px;">10</h2>
<a target="_blank" href="https://sqmresearch.com.au/homediscounts/redir.php?url=http%3A%2F%2Fwww.realestate.com.au%2Fcgi-bin%2Frsearch%3Fa%3Do%26id%3D107023981">5 Park Street, Inglewood, WA, 6052</a>
On the market since: November 27, 2010
Initial asking price: $649,000
Current asking price: $495,000
Reduction: 24%
Days on market: 294
 
SQM Research also offers a list of the <a target="_blank" title="SQM Research" href="https://www.sqmresearch.com.au/top100bargains.php">Top 100 Biggest Bargains in Australia </a>for sale.
</div>
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Discounting more severe in Perth than in some other capitals: SQM Research

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{yoogallery src=[images/stories/october26trump]}
Real estate developer and reality TV star Donald Trump has sold his 1,022-square-metre house in Rancho Palos Verdes, California, for a reported  US$7.15 million. He had listed the property in June 2010 with price hopes of US$12 million, shortly after it was completed.
The property includes grand fireplaces, five bedrooms, nine bathrooms, fire pit, a library, games room, full wet bar, wine cellar and four-car garage. The property is located at Trump National Golf Course, which Trump owns and operates. 
"It has a spectacular basement with light and air," Trump <a href="https://articles.latimes.com/2010/nov/13/home/la-hm-hotprop-donald-trump-20101113" target="_blank">told the Los Angeles Times</a> last year.
Linda D'Ambrosi and Sandra Callen of <a href="https://pv.yourkwoffice.com/" target="_blank">Keller Williams Rancho Palos Verdes</a> were the listing agents. 
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Donald Trump sells golf club estate for US$5 million below asking price

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{yoogallery src=[images/stories/october25brando]}
The California home that once belonged to two-time Oscar winner and screen legend Marlon Brando is on the market with price hopes of US$1.65 million.
The 1939 house has five bedrooms, four bathrooms, tennis court, pool and sauna. Brando himself built the pool's diving board. 
Property records show that Brando sold the house in February 2004, a few months before he died at age 80, and the Los Angeles Times<a href="https://www.latimes.com/classified/realestate/la-hmw-hotpropbrando4-2009feb04,0,7139075.story" target="_blank"> reports </a>that the current owner is Brando's former housekeeper and the mother of his three youngest children. 
Elena Safronova of<a href="https://www.firstteam.com/propertydetail.aspx?ilookup_no=4146798" target="_blank"> First Team Real Estate</a> is marketing the property.
Brando, born in 1924, was known for iconic roles in films such as A Streetcar Named Desire, On the Waterfront, The Wild One and The Godfather. 
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Marlon Brando's former home on the market

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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