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Across Australia, the rate of price growth continues to slow, with combined capital city home values down 0.3% in November, according to CoreLogic RP Data.
Sydney continued to drive capital city growth in November, with home values up 1% on a monthly basis. Melbourne saw the biggest decrease in values, with a 2.6% drop over November.
CoreLogic RP Data recorded home value decreases in Melbourne, Adelaide, Canberra and Darwin.
The year on year capital city result further reflects a slowdown, according to CoreLogic RP Data research analyst Cameron Kusher.
"Although combined capital city home values increased by a healthy 8.5% over the 12 months to November 2014, the annual growth rate is now at its lowest level in the year – the rate of annual home value growth across the combined capital cities continued to slow after peaking at 11.5% over the 12 months to April 2014," says Kusher.
Kusher says most Australian cities have now passed their cyclical peak periods.
"Importantly, this has become apparent in the two largest capital cities; Sydney and Melbourne, where annual value growth peaked at 16.7% in April 2014 and at 11.9% in January 2014 respectively," he notes.
"Although Sydney and Melbourne appear to have moved through their peak periods, capital growth conditions have consistently been the main drivers of value growth over the past 12 months."
Sydney's November home values were 13.2% higher than those recorded in in November 2013. In the 12 months to November, Melbourne's home values increased by 8.3%.
Brisbane recorded the third strongest year on year growth, with 6%. Hobart's prices increased by 5.2% in the 12 months to November. Adelaide's home values increased more modestly by 2.8% in the same period.
Perth and Darwin had the weakest year-on-year results, each recording 1.4% growth.
Kusher expects 2014's value growth will be weaker than that seen in 2013.
Currently, the market appears to be weakening, Kusher says.
"Market indicators such as auction clearance rates remain quite strong, but also point to slightly weaker overall housing market conditions," he explains. According to Corelogic RP Data, auction clearance rates have reduced across Melbourne and Sydney in recent weeks. The two cities are Australia's biggest auction markets.
Kusher says property listing numbers have also begun to trend higher.
"This may indicate a slower rate of sale and is indicative of mounting stock on the market," he notes.
 On a monthly basis, Perth recorded an dwelling price increase of 0.9%, the second strongest capital city result. Brisbane home values increased by 0.4% over the same period, while Hobart recorded 0.2% growth. Adelaide home values were down 0.3% for November, Canberra saw a 0.5% decrease and Darwin's dwelling prices decreased by 0.8%.
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jrichardson-uRX5hFdKfN

Capital city prices dip in November as growth slows

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These five ballrooms are unlikely to have ever seen a minor celebrity (let alone Daniel MacPherson), but they still deserve a standing ovation.
While ballrooms are typically associated with grandeur and gowns, they are sometimes hiding where you wouldn't expect them. An unassuming 1950s <a href="/news/strictly-ballroom-devotees-for-baldwell-park-offering">Bardwell Home is currently on the market</a>, with a ballroom custom built for the Joan Allen Dance Studio.
Other ballrooms have made sure to meet the black tie dress code, with timber parquetry, chandeliers and bay windows.
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-blackheath-118033759" target="_blank">179-181 Wentworth Street, Blackheath, NSW</a> 
 <img src="/images/2014/11/28/1.jpg" alt="">
Yabba Yabba, a circa 1888 restored heritage mansion, is one of Blackheath’s earliest guesthouses. It features a formal ballroom which opens onto an entertaining deck and a fish pond. The chandelier-lit ballroom, currently used as a formal dining room, has herringbone parquetry.
The home includes 11 suites, a commercial kitchen, a drawing room with open fireplace, a media room and a 20 seat dining room.
</li>
<li>
<a href="https://www.realestate.com.au/property-acreage+semi+rural-nsw-canyonleigh-117390091" target="_blank">250 Tugalong Roadm Canyonleigh, NSW</a>
 <img src="/images/2014/11/28/3.jpg" alt="">
Satori Springs is a 100 acre estate in Canyonleigh. This ballroom has polished timber floorboards and full height windows – unfortunately, we assume the baby grand piano and suit-clad pianist is not included. The chandeliers look a good deal more suitable in this ballroom than they would <a href="/expert-insights/investing/chandeliers-hanging-in-the-garage-he-said-she-said">a garage – or even a chicken coop</a>.
For those who prefer not to dance, there is another complex on the estate, with an indoor heated swimming pool, spa treatment rooms and its own tennis court.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-nsw-blackheath-117906883" target="_blank">166-168 Shipley Road, Blackheath, NSW</a>
 <img src="/images/2014/11/28/2.jpg" alt="">
Blackheath has another, slightly more modest, ballroom. The ballroom in the circa 1930s 166-168 Shipley Road property is now used as a gallery, complete with hanging rails. It features timber floorboards and ceiling roses.
The mixed-use property, with a two bedroom, two bathroom apartment, studio space and dining room, is currently on the market with a price guidance of $699,000 plus.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-endeavour+hills-116728459" target="_blank">63 - 65 Churchill Park Drive, Endeavour Hills, Vic</a>
 <img src="/images/2014/11/28/4.jpg" alt="">
No matter how much white furniture you pour in, it's hard to disguise a ballroom. This ballroom, currently used as a living and dining room, has a total 89 square metres of dancing space. It's only surpassed in size by the home's 93.48 square metre six car rear garage.
The two acre property, essentially a dual home, has six bedrooms, four bathrooms and two kitchens.
</li>
<li>
<a href="https://www.realestate.com.au/property-house-vic-bendigo-111263891" target="_blank">60 Barkly Street, Bendigo, Vic</a>
 <img src="/images/2014/11/28/5.jpg" alt="">
Lansellstowe, an Italian Renaissance style circa 1913 Bendigo mansion, was designed by architects Beebe and Garvin for Leonard Vere Lansell, the son of George Lansell, a mining entrepreneur.
The three level home features a ballroom with pressed metal ceilings, chandelier and timber parquetry. A landmark heritage property, the mansion includes over 20 rooms.
</li>
</ol>
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Five home ballrooms worthy of Dancing With the Stars

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Not all Victorian real estate agents support the Real Estate Institute of Victoria's (REIV) anti-Liberal push ahead of the Victorian election.
The REIV started taking shots at the government after the Liberal party proposed changes to commercial real estate licensing requirements.
REIV president Enzo Raimondo <a href="/expert-insights/buying/victorias-proposed-commercial-licensing-changes-q-a-with-the-reivs-enzo-raimondo">told Property Observer </a>the changes would "open the industry up to unqualified and inexperienced operators - and potentially criminals - because there will be no probity checks, and the operators will not be required to maintain an audited trust account or comply with the requirements of the estate agents act".
Since then, the Victorian Coalition has announced it will step up laws against underquoting, a practice where agents deliberately misrepresent the price of a property before an auction to bait buyers. Raimondo labelled the proposal an "election stunt".
<a href="https://www.propertyobserver.com.au/https://twitter.com/IainCarmichael1/status/537715177836134400" target="_blank"><img src="/images/2014/11/27/tweet-nov-27-one.png" alt=""></a>
The REIV's anti-Napthine campaign, which includes print and radio advertisements, has resulted in a dispute with the Council of Small Business Australia, who claim the use of their <a href="/news/vic/reiv-locked-in-dispute-with-small-business-body-over-victorian-election-advertising">logo on the REIV's advertisements</a> is unauthorised.
Jellis Craig director Iain Carmichael is among those critical of the REIV's election lobbying tactics.
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Tweet of the day: REIV's anti-Liberal campaign "reckless"

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Four new members have joined the board for property valuation group Herron Todd White.
Sheena Wilson, Graham Waters, Jeff Forbes and Graham Gross have been appointed to the board.
Wilson has previous worked at the Bank of New York Mellon, including a three year period as country chief executive for BNY Mellon India.
Waters, the managing director of Herron Todd White Sydney, returns to the board. Having been with the company for 15 years, he is also a founding director of the South East New South Wales and Canberra arms of Herron Todd White.
Gross has worked at Herron Todd White for 20 years and also returns to the board. He is the managing director of the company's Central Queensland group.
Forbes is the former chief financial officer, executive director and company secretary of Cardno Limited and has held chief financial officer positions at ASX listed companies.
Chairman Gavin Hulcombe said he was delighted to welcome the new members to the Herron Todd White board.
"The experience and capabilities they will bring to the table will be a real benefit to our organisation," said Hulcombe.
"At Herron Todd White we strive to be the most respected and trusted property advisory organisation in the country. I look forward to the positive contributions they will make to our business as well as our customer and community standing," he said.
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New board members for Herron Todd White

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With double digit annual price growth in Sydney, some wonder whether we risk a spectacular end to this year's stellar price growth. Is Australia's property market caught in a bubble?
Earlier this year, US forecaster Harry Dent predicted the <a href="/news/property-crash-is-like-popping-popcorn-especially-in-melbourne-harry-dent">Melbourne property market</a> would eventually crash, saying: "Melbourne has been, actually, the biggest bubble in recent years and I would expect the biggest burst there." Melbourne wasn't alone – he also took aim at Sydney, Perth and Brisbane, apparently spotting a bubble in each city.
Our big banks are a good deal more skeptical about the presence of a bubble, though earlier this week, <a href="/expert-insights/buying/no-bubble-but-there-is-a-platform-for-one-to-develop-anz-s-warren-hogan">ANZ's Warren Hogan</a> said while we don't currently have a property bubble, "we have the platform to form a bubble in the next few years".
Though many doubt Australia is currently experiencing a bubble, the prospect of a sudden fall in home values have some nervous.
Property Observer took the question to the experts: What are the signs of a bubble?
Shane Oliver - AMP Capital head of investment strategy and chief economist <img src="/images/2014/09/11/shane-oliver-profile.jpg" alt="" style="float: right;">
The first one is the price gains themselves – if they've been rising rapidly for a lengthy period and they've diverged from underlying income levels or rents. In other words, the market's become overvalued. So rapid momentum in price growth and overvalued prices.
Another is a rapid rise in debt financing. Usually that comes with low interest rates, but when credit growth is running at double digit rates it's often a concern.
The last one is popular interest: everyone's talking about housing prices at dinner parties and every show on television is about property.
In Australia, lots of the markets get the tick in terms of overvaluation. That's why a lot of commentators have said a bubble is about to burst and that we should get ready for a 40% price decline, which just hasn't happened.
The issue is complicated by our undersupply of property, which keeps underlying demand going. We've got a bit more supply coming, but that's mostly units in certain capital cities. I would still give the "overvalue" criteria a tick.
Momentum is excessive in Sydney and there's no doubt about that. It might get a half tick in Melbourne. The other capital city markets? There's no sign of a bubble in any of them.
Credit growth has been quite modest in the past. I suppose what bothers me is credit growth at 10% for investors, although it's not near the 30% growth we were seeing a decade ago. So that gets half a tick.
Popular interest gets half a tick. People are certainly talking about property prices in Sydney, but in Hobart nobody's that excited about the market. You find the same thing in Brisbane and Adelaide – people there are bit skeptical of all the bubble talk.
So there are some signs of bubble – overall it's a bit "bubbly". Nationwide, I'm not prepared to say it's a bubble just yet.
Louis Christopher - <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research </a>managing director <img src="/images/authors/fullbody/Louis-Christopher.png" alt="" style="float: right;">
Massive speculation; sales prices going beyond fundamental valuations. Excessive and accelerated debt levels – so a massive debt boom is usually going on at the same time as well. These are normally the signals of what will be regarded as a bubble.
The problem is that sometimes you can have a recovery in the market, and it's just a normal part of the cycle, and it could be mistaken for a bubble, or vice versa.
So often it's very difficult to make a judgment until after the event.
At the Australian level, we're not seeing a bubble.
Number one, the market's not rapidly accelerating everywhere, just in very few areas – namely Sydney.
So what's going on with the Sydney market? Is it in a bubble? The answer is – we think – no. We can see a market which is still going into overvalued territory – but is it a massively overvalued? Compared to previous cyclical upticks, no.
2003 was a very dangerous time in Sydney and the fundamentals went way out of whack. It's not surprising that for the next few years it underperformed.
This recovery should be seen in the context of the last few years' performance. While we do believe a market has been moving into overvalued territory, we don't think it's enough to cause a massive overcorrection.
Article continues on the next page. Please click below.
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Margaret Lomas - Author, television host and <a href="https://destiny.com.au/dotnetnuke/en-au/home.aspx" target="_blank">Destiny Financial Solutions</a> founder<img src="/images/authors/fullbody/Margaret-Lomas3.png" alt="" style="float: right;"> 
Property is considered to be in a bubble when rapid increases in the price of real property in a local area, country or even globally reaches unsustainable levels relative to incomes and rents, and then decline.  The degree of decline indicates whether the market simply stabilises, or bursts.
A property 'bubble' is not necessarily an indicator that a burst is imminent and many markets boom and then stabilise, rather than boom then crash.
As for the question being asked by everyone at present: "Are we in a property bubble?" Let's remember that this white hot market exists, at present, only in Sydney. Broadly speaking, Sydney came off a 9 year period of stable prices in 2012, making the measurement over the past 10 years (the common period that property price growth is measured) a very different picture indeed.
In addition, this situation of fast moving price growth isn't reflected as noticeably in other Australian markets, which comprise more than 80% of all dwellings.
More importantly, when considering the bubble question, it is to be noted that while housing has increased in price, many other common, every-day items, which comprise the cost of living, have dramatically decreased relative to incomes. 
While it may be true that the average home appears to cost seven times the average income today as opposed to three and four from many years ago, the proportion of disposable income available to the average person to spend on mortgage repayments has considerably increased.
In addition, homes today are larger and more luxurious than they were 30 years ago, providing more home for the additional price paid.
Andrew Wilson - <a href="https://www.domain.com.au/" target="_blank">Domain</a> Group senior economist <img src="/images/authors/fullbody/Andrew-Wilson.png" alt="" style="float: right;">
I do think that a bubble is a little hard to spot, but we do have a few that are operating at the moment.
The classic examples are the markets of Gladstone and Mackay. We spot a property bubble really when we get a strong buyer interest or strong supply in a short period of time. That's what happened in those markets.
It wasn't just small investors that rushed in. It was followed up by developers under projections there would be strong demand in the areas, due to mining.
Prices got so high that optional alternative accommodation was sought by those who were there, the majority of whom were Fly In Fly Out workers. And the bottom hasn't been found in that market yet.
If we look at the cycle, when a bubble bursts we clearly see the market falling below its previous trough.
Gladstone prices went from $300,000 to $700,000 and back down again. When it returns to $350,000 people will start to think it's gone back to its fundamental values.
Classically, a bubble occurs when we see a rapid increase in prices and rents, particularly if there is optional accommodation available, and people will turn to that.
We've never had a bubble burst in this country in the capital city markets.
We may see falling prices in some of those mining towns, but in larger markets where there's diversity in the economy, we tend to just see an orderly correction phase.
Article continues on the next page. Please click below.
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Robert Simeon - <a href="https://www.rwm.com.au/" target="_blank">Richardson Wrench Mosman and Neutral Bay</a> director<img src="/images/authors/fullbody/simeon-new-profile33444.png" alt="" style="float: right;">
The term 'bubble' is without a doubt the most misconstrued term today that clouds the Australian residential real estate markets.
All along I have said (as others too have said) that there is no such thing. What makes up this so called bubble? In short, nobody was able to explain what metrics determine this imaginary term used to paint the real estate markets.
When I go to Wikipedia and search "Real estate bubble": "A real estate bubble or property bubble (or housing bubble)that occurs periodically in local or global real estate markets. It can be identified through rapid increases in valuations of real property such as housing until they reach unsustainable levels and then decline."
The point that needs to be made is that bubbles happen much more frequently than booms and only after a significant boom do we then see property prices in a free-fall, given next we enter a recession.
The last boom Sydney experienced was back in the late 1980's where prices doubled and in some cases even trebled. That was then followed by "the recession we had to have" in the early 1990s.
Of course we have seen many bubbles since then for example: in 2004, 2007 and recently in 2012/13 although the present bubble is being driven by overseas investors and local investors. It also should be noted that this does not include your average households, although it is inferred that they, too, are playing a significant part in this 'bubble'.
They say "if you want to make a mountain out a molehill, add dirt" – and that's exactly what's happening in the Australian residential real estate markets. An over reliance of using median price indexes skews the results to create unrealistic market data interpretations, given top-end sales will always do this to median prices.
Sydney has approximately 700 suburbs and only when you break them down individually one quickly draws the conclusion: nothing happening here, move on.
Booms cause massive economic destruction (as history has shown) the only problem is that the vast majority of commentators were not around when Sydney experienced its last boom. Cue the confusion about bubbles.
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Exclusive: What are the signs of a property bubble? Property Observer asks the experts

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A 350 square metre office in Hawthorn will be leased to information technology company WhiteGold Solutions.
The office space at <a href="https://www.realcommercial.com.au/property-offices-vic-hawthorn-501029535" target="_blank">443 Auburn Road</a> is owned by a private investor, with the lease negotiated by JLL director of Office Leasing Michael Simonds and Leasing Executive Shane Keogh.
The fully fitted out office has a five year lease term. JLL also negotiated the lease for vacating BluePrint Group, who moved to larger premises at 192 Burwood Road, Hawthorn.
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WhiteGold Solutions finds home in Hawthorn

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NAME: Ben Pomroy<img src="/images/2014/11/26/punroy-nov-26-proifle.jpg" alt="" style="float: right;">
POSITION: Principal
COMPANY: Rothelowman
OFFICE LOCATION: Level 2, 171 William Street, Darlinghurst NSW 2010 
How long have you been in the industry?
16 years
What’s happening in the area you specialise in?
Historically disparate development types – residential apartments and neighbourhood retail developments are co-locating within single development sites, creating high intensity mixed-use developments in outer urban areas. These development types come from traditionally disparate funding and delivery models, so combining them brings a unique set of design and delivery challenges. Describe the most interesting commercial property you have worked on?
I have always been interested in adaptive reuse projects, working on several adaptions from small to large scale. A conversion I designed, of an old fish processing facility into residential apartments in the inner city, is a favourite. The old building opened up all kinds of unique and interesting challenges, from its triangular site plan that tapered down to a 800mm wide point, to using the tight proximity of surrounding neighbours to generate an architectural form. Needless to say, the conversion was positively received by the neighbours with the removal of processing waste from the area.
What are the ingredients to being successful in your job?
To take an idea from its early conception, through to construction demands the architect to be passionate advocate for the project throughout its life. This responsibility is a great opportunity that needs to be embraced by any architect to be successful.
What aspects of your role do you enjoy the most?
The moment working with a client when the idea comes together, the “aha” when the lines of the paper crystalise to form the future building.
Where would you invest a spare $750,000?
In property I would be looking at fringe areas to the Parramatta CBD for what are still good value sites. On the north side of Sydney, the Northern Beaches still has opportunities in this price range.
Which football team do you support?
My early years were in QLD, so the Brisbane Broncos.
What’s your favourite app or techno gadget?
Favourite app is Paper by 53.
How do you use social media?
Each media platform has its own specific use and audience. I like using Twitter as a place to research and test new design issues and agendas. Condensing an idea down to 140 characters hones an ability to clearly articulate design concepts to wider audiences than just other design professionals.
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In profile: Rothelowman principal, Ben Pomroy

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News Corp has paid US$30 million (A$35 million) for a 25% stake in the parent company of an Indian real estate website.
The PropTiger.com purchase expands News Corp's considerable real estate investments. Their portfolio includes a 61.6% stake in REA Group, the operator of realestate.com.au, Move, which operates the US based realtor.com, and South East Asian iProperty.
PropTiger.com offers both real estate listings and advisory services. About 10,000 Indian properties in 12 cities have been sold through the site since it launched in 2011. It has employees in eight cities.
News Corp now owns a quarter-stake in Elara, the digital venture's parent company.
News Corp chief executive Robert Thomson says the company is "extremely enthusiastic about the potential for PropTiger.com" as India "fulfills its digital destiny".
"PropTiger.com will provide analysis, information and insight so that Indians will be better informed when they make the most significant investment decision any family will make, buying a home," said Thomson in a statement.
PropTiger.com also partners with developers to market their properties to clients. The site claims they carry out "extensive due diligence and research on each of our developer partners to check for any irregular practices on their part".
"We make constant efforts to ensure that our clients are not being exposed to any kind of risks," the website states.
News Corp's senior vice president, Strategy, Raju Narisetti will join Elara's Singapore-based board.
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News Corp buys stake in Indian real estate website PropTiger.com

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The Victorian Greens are the only party that have committed to a review of the retirement housing sector in the next political term.
Ahead of this weekend's state election, the Consumer Action Law Centre has been lobbying political parties to commit to a review of the Retirement Villages Act 2010 and retirement housing sector more generally.
According to the Consumer Action Law Centre, the major parties are yet to promise any reform or review of retirement housing policy. Neither Victorian Labor nor Liberal have advertised any policies regarding retirement housing ahead of the election.
The Greens, however, have promised to launch a parliamentary inquiry into the housing retirement sector and act on subsequent recommendations.
They claim their actions will "ensure older people are not ripped off".
"The Greens will act on the recommendations of the inquiry to reform retirement housing legislation to ensure it reflects the diversity of retirement housing types and includes proper consumer protections, dispute resolution procedures, fair pricing, and consistent, simplified management standards and regulations across the sector", states the <a href="https://greens.org.au/vic" target="_blank">Victorian Greens website</a>.
The Consumer Action Law Centre claims current retirement housing practices include "overly complex contract terms and unfair fee structures".
Denise Boyd, director of Policy and Campaigns at Consumer Action, said: "We've heard from residents who'd chosen certain retirement accommodation because it offered stability for their later years. But, in fact, many contracts include deferred management fees of up to 40% of the total cost. Hiding the cost of accommodation in high fees to be paid upon departure is unfair – these costs can surprise family members or limit aged care options when leaving the retirement accommodation."
She also said the centre has seen contracts requiring residents to pay for capital improvements when they leave their rented retirement accommodation.
"Refreshing the properties is reasonable, but this is being used by village owners to charge departing residents upwards of $50,000 for entirely new kitchens and bathrooms," said Boyd.
"These are capital works, not refurbishment, and should be paid for by the owners, not residents."
According to Boyd, personal briefings with Liberal and Labor Party members did not result in any commitments to improve the sector after the election.
"This issue affects thousands of Victorian voters and we'd hoped all parties would make clear statements of intent to sort out this unacceptable and unfair situation," she said.
 
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Victorian Greens commit to retirement housing review ahead of state election

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Tasmania and Western Australia dominate <a href="https://www.sqmresearch.com.au/" target="_blank">SQM Research</a>'s list of the most discounted homes in the country.
Despite price cuts of up to 40% and months (for some, years) on the market, buyers just won't bite.
SQM Research's top 10 discounted homes:
<a href="https://www.realestate.com.au/property-house-tas-wattle+grove-116035107" target="_blank"><img src="/images/2014/07/04/yellow-one.jpg" alt="" style="float: left;">78 Walters Road, Wattle Grove, Tasmania</a>
 <img src="/images/2014/11/26/1.jpg" alt="">
Vendors have cut the price guide for this property by 40%, making it the most discounted home in the country. There is a three bedroom, two bathroom house on the 10 acres, along with a separate two bedroom cottage.
Set over two titles, the Wattle Grove property was initially listed for $1.15 million, but now comes with a $685,000 price guidance after 279 days on the market.
<a href="https://www.domain.com.au/property/for-sale/rural/nsw/leppington/?adid=2011255071" target="_blank"><img src="/images/2014/07/04/yellow-two.jpg" alt="" style="float: left;">61 Woolgen Park Road, Leppington, New South Wales</a>
 <img src="/images/2014/11/26/2.jpg" alt="">
The price of this 5.24 acre block has been cut from $1.55 million to $950,000, a 39% discount. Running parallel to Camden Valley Why, the property has a two bedroom cottage, currently rented for $300 per week by a horse owner. If the home eventually sells for its $950,000, the current rent would reflect a 1.6% yield.
It has been on the market for 148 days.
<a href="https://www.realestateview.com.au/Real-Estate/28a-malsbury-street-bicton/Property-Details-buy-residential-7962768" target="_blank"><img src="/images/2014/07/04/yellow-three.jpg" alt="" style="float: left;">28a Malsbury Street, Bicton, Western Australia</a>
<img src="/images/2014/11/26/image3.jpg" alt=""> 
A two bedroom, one bathroom strata unit is on the market for $950,000, after a 37% price cut. The home celebrates its first anniversary on the market today –one year ago, it was listed at $1.5 million.
The vacant property is currently listed for rent at $480 per week. If tenanted and sold at its current advertised price, it would return a 2.6% yield.
<a href="https://www.realestate.com.au/property-house-tas-battery+point-108230936" target="_blank"><img src="/images/2014/07/04/yellow-four.jpg" alt="" style="float: left;">1/23 Albuera Street, Battery Point, Tasmania</a>
<img src="/images/2014/07/09/6.jpg" alt="">
This luxury renovated apartment in Hobart is situated in the former Albuera Art School.
Vendors are seeking offers over $1,400,000. Its price has been cut by 36% – when it was first listed on the market, more than three years ago, it was listed for $2.2 million. The property has three double bedrooms, with polished timber floors throughout and pressed metal ceilings.
<a href="https://www.realestateview.com.au/Real-Estate/2-wellington-street-richmond/Property-Details-buy-residential-6093682" target="_blank"><img src="/images/2014/07/04/yellow-five.jpg" alt="" style="float: left;">2 Wellington Street, Richmond, Tasmania</a>
<img src="/images/2014/07/09/2.jpg" alt="">
Vendors lopped a cool million off the asking price of this Tasmanian heritage property. It was originally listed at $2.8 million, with its price cut by 36% after 391 days on the market.
The historic property has a four bedroom, four bathroom main residence, with a formal living and dining area, sunroom and cellar.
There is also a self-contained cottage on the property, and vendors will consider selling the adjoining plot.
 
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<a href="https://www.realestate.com.au/property-house-sa-strathalbyn-107584093" target="_blank"><img src="/images/2014/07/04/yellow-six.jpg" alt="" style="float: left;">21 Cotton Court, Strathalbyn, South Australia</a>
<img src="/images/2014/04/30/strathalbyn.jpg">
This Strathalbyn home has seen a price cut of 35%. It was initially listed at $498,000, and currently has a $325,000 price guide. The house was listed 1198 days ago, making it the longest-listed house in the top 10.
The vendors purchased the c1900s house for $118,000 in 1995.
<a href="https://www.realestate.com.au/property-unit-wa-cottesloe-113421415" target="_blank"><img src="/images/2014/07/04/yellow-seven.jpg" alt="" style="float: left;">4/134 Marine Parade, Cottesloe, Western Australia</a>
<img src="/images/2014/11/26/cottesloe.jpg" alt="">
A three level home in Cottesloe has been on the market for 596 days – a bit over a year and a half. Its price has seen a 35% cut, from $2.75 million to $1.8 million.
The three bedroom, three bathroom unit has panoramic ocean views from its balcony.
<a href="https://www.realestateview.com.au/Real-Estate/76-tinderry-road-michelago/Property-Details-buy-residential-3186525" target="_blank"><img src="/images/2014/07/04/yellow-eight.jpg" alt="" style="float: left;">76 Tinderry Road, Michelago, New South Wales</a>
<img src="/images/2014/07/09/4.jpg" alt="">
This 710 hectare property was first listed in October 2011 at $1.9 million. Since then, its price has dropped by 34% to $1.25 million.
The original 1925-era home still stands on the rural property and requires significant renovations. Permanent water is supplied by the Michelago creek, with two dams on the land.
<a href="https://www.realestate.com.au/property-house-sa-belair-116283343" target="_blank"><img src="/images/2014/07/04/yellow-nine.jpg" alt="" style="float: left;">40 Hawker Avenue, Belair, South Australia</a>
<img src="/images/2014/11/26/belair.jpg" alt="">
This contemporary home was originally advertised at $1.69 million in March this year. Its price has since dropped by 32%, and the home is now listed at $1.69 - $1.79 million.
The house has re-entered the market due to a contract that fell through. It has four bedrooms, three living spaces, a 15 metre lap pool and a triple car garage.
<a href="https://www.realestateview.com.au/Real-Estate/2-stockdale-road-kewdale/Property-Details-buy-residential-7820108" target="_blank"><img src="/images/2014/07/04/yellow-ten.jpg" alt="" style="float: left;">2 Stockdale Road, Kewdale, Western Australia</a>
<img src="/images/2014/11/26/stockdale.jpg" alt="">
The third West Australian home on the top 10 list was originally put on the market three months ago. Since then, the price guidance on the three bedroom house has dropped 31%, from $870,000 to $600,000. It is set on a 685 square metre block.
The listing information, which says the price is "reduced for quick sale", notes the City of Belmont has indicated it will consider selling the adjoining 200 square metre plot.
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The 10 most heavily discounted homes in Australia

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
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[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Jessie Richardson

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