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Analysis of RLB's crane index shows about 57 per cent of cranes across Brisbane's skyline are located inside areas flagged by lenders as problem spots with restricted lending.
Nationally some 239 cranes in Sydney, Melbourne, Brisbane, Perth, Gold Coast and Adelaide are within city postcodes that have been marked out by National Australia Bank and AMP where buyers may, if finance is forthcoming, then have to come up with 10% to 20% more equity on settlement.
The apartment settlement risks rise as the off the plan buyers didn't expect and can't match this financing requirement.
<a href="https://www.propertyobserver.com.au/images/2017/01/05/Crane-1.jpg" target="_blank">Click to enlarge</a>
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Around 38 percent of the cranes building Australia's apartments due for completion in the next two years sit in the postcodes currently known to have been "blacklisted" by lenders.
Sydney and Melbourne have the lowest proportion of cranes in "blacklist" areas, at about 32 per cent each. 
In Sydney, where nearly 85 per cent of its cranes were employed on residential projects, the suburbs deemed risky by lenders were spread in a ring stretching from Hurstville in the south through Auburn and Parramatta in the inner west to Epping and Chatswood on the north shore.
Brisbane, with nearly 57 per cent of all cranes located in problem postcodes, ranks the highest ratio of all the cities especially in the north-south spine that includes the Newstead, Fortitude Valley and West End areas.
<a href="https://www.propertyobserver.com.au/images/2017/01/05/Crane-2.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/05/Crane-2.jpg" alt="">
RLB compared the postcodes of individual crane locations with suburbs singled out by lenders for being riskier places to lend.  
Sydney cranes
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<img src="https://www.afr.com/content/dam/images/g/t/g/q/p/4/image.imgtype.afrArticleInline.620x0.png/1483530138193.jpg" alt="Intensity of Sydney's cranes: the spread beyond NAB's problematic areas, shaded in purple, suggests the apartment ..." width="620" data-src="/content/dam/images/g/t/g/q/p/4/image.imgtype.afrArticleInline.620x0.png/1483530138193.jpg"><cite> </cite>
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JLL's national director for Residential Development Valuations &amp; Advisory, Troy Linnane, told The Australian Financial Review that depending on project type, developer and location new apartments sold off the plan late in the cycle had a "higher risk of capital value depreciation".
"These apartments were/are being sold at higher rates per metre due to increases in cost of sale such as agents' commissions, marketing costs, incentives and higher construction costs," Mr Linnane said. "But there are projects and there are projects – so this would not necessarily apply to all, so it does depend on the project – quality and standard of amenity."
Melbourne cranes
<img src="https://www.afr.com/content/dam/images/g/t/g/q/p/1/image.imgtype.afrArticleInline.620x0.png/1483530138295.jpg" alt="Inner Melbourne also shows high numbers of cranes in areas highlighted by NAB (purple) and AMP (blue) but there is a ..." width="620" data-src="/content/dam/images/g/t/g/q/p/1/image.imgtype.afrArticleInline.620x0.png/1483530138295.jpg">
Inner Melbourne also shows high numbers of cranes in areas highlighted by NAB (purple) and AMP (blue) but there is a majority outside those postcodes.<cite> </cite>
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"This level of activity and balancing of risk seems to suggest a responsible and sustainable market for the foreseeable future," RLB director of research and development Stephen Ballesty told The Australian Financial Review.
It was noted NAB and AMP together accounted for just under 15 per cent of Australia's total owner-occupier loans and 19 per cent of property loans to investors in October, figures from regulator APRA show.
The banks also have changing lending criteria, their conditions and credit practices change frequently and the timing of projects as well as cycle of the geographic and demographic markets in which they operate mean their risk profiles vary.
The latest report showed the individual crane counts in Brisbane and Melbourne – the two cities most at risk of an oversupply of apartments – falling from the prior count in March.
Brisbane cranes
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<div><img src="https://www.afr.com/content/dam/images/g/t/g/q/p/8/image.imgtype.afrArticleInline.620x0.png/1483530138015.jpg" alt="Much of Brisbane's crane development is focused in the city, coinciding with areas of concern for lenders." width="620" data-src="/content/dam/images/g/t/g/q/p/8/image.imgtype.afrArticleInline.620x0.png/1483530138015.jpg"></div>
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<div>Much of Brisbane's crane development is focused in the city, coinciding with areas of concern for lenders.</div>
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"It could be that there has been increased investor activity in Brisbane due to the current differential between residential prices particularly when compared to Sydney," Mr Ballesty said.
Perth cranes
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<div><img src="https://www.afr.com/content/dam/images/g/t/g/q/p/7/image.imgtype.afrArticleInline.620x0.png/1483530138107.jpg" alt="Just over half of Perth's cranes are in areas of concern for NAB (purple)." width="620" data-src="/content/dam/images/g/t/g/q/p/7/image.imgtype.afrArticleInline.620x0.png/1483530138107.jpg"></div>
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<div>Just over half of Perth's cranes are in areas of concern for NAB (purple).<cite> </cite>
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<div>Adelaide cranes</div>
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<img src="https://www.afr.com/content/dam/images/g/t/g/q/o/p/image.imgtype.afrArticleInline.620x0.png/1483530138468.jpg" alt="Just over half of Adelaide's cranes are in areas of concern for NAB (purple) as well. " width="620" data-src="/content/dam/images/g/t/g/q/o/p/image.imgtype.afrArticleInline.620x0.png/1483530138468.jpg">
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<div>Just over half of Adelaide's cranes are in areas of concern for NAB (purple) as well.<cite> </cite>
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Just over half of Perth's cranes were in areas of concern, which included the CBD and city fringe. It was a similar in Adelaide.
Gold Coast had a low proportion of cranes in areas of concern.
Gold Coast cranes
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<div><img src="https://www.afr.com/content/dam/images/g/t/g/q/o/w/image.imgtype.afrArticleInline.620x0.png/1483530138375.jpg" alt="In Gold Coast, the proportion of cranes in 'blacklist' areas is still small. " width="620" data-src="/content/dam/images/g/t/g/q/o/w/image.imgtype.afrArticleInline.620x0.png/1483530138375.jpg"></div>
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<div>In Gold Coast, the proportion of cranes in 'blacklist' areas is still small. <cite> </cite>
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jchancellor-FAypfDUnLy

57% of Brisbane cranes in lender blacklist problem areas

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<div>There will be court hearings during 2017 after Consumer Affairs Victoria lodged claims against the Hockingstuart, Doncaster agency for alleged underquoting.</div>
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<div>Victoria’s consumer watchdog alleges the Hockingstuart agency underquoted on nine properties in legal action launched against the office late last year.</div>
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<div>The claims involve Kenneth John Chappell and Anastasios John Adgemis in relation to nine homes in Melbourne’s east during 2014 and 2015.</div>
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The Herald Sun says Chappell is being pursued specifically over the marketing of three homes and Adgemis over two.
CAV will allege the two men advised vendors to advertise their properties for well below what they would accept in order to attract more interest.
One home on <a href="https://www.realestate.com.au/sold/property-house-vic-templestowe+lower-120245057" target="_blank">Rose Avenue, Templestowe</a> (above) was marketed with an advertised guide of “in excess of $750,000.”
Federal Court documents lodged by CAV claim the vendor had advised they would not sell for less than $900,000.
The property sold for $1.06 million.
A home in <a href="https://www.realestate.com.au/property/395-serpells-rd-doncaster-east-vic-3109" target="_blank">Serpells Road, Doncaster East</a> (below) was marketed “in excess of $800,000” at the start of the campaign.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/05/395%20Serpells%20Road.jpg" alt="">
The guide price remained despite interest in the mid to high $900,000s and a $1 million offer, CAV alleges.
It sold for $1.16 million.
The other properties involved were in Doncaster, Doncaster East, Donvale, Templestowe and Templestowe Lower.
CAV is seeking the agency be hit with penalties.
The agency was fined over its Richmond office price guidance last year.
Last year hockingstuart were fined $330,000 when they underquoted properties in Richmond.
Laws aimed at curbing underquoting were passed by the Victorian Parliament last November, with agents required to tell prospective buyers about three recent comparable sales, and the median price for the suburb.
The new laws also ban advertising price ranges of more than 10 per cent.
They also require advertising to be promptly updated if the seller rejects a higher written offer to purchase the property.
 
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Hockingstuart Doncaster face underquoting claims by Consumer Affairs Victoria

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Former bank chief Stuart Grimshaw and his wife Anneliese have sold their Mosman home following their move to Texas. 
Grimshaw quit Australia to take up a job as executive chairman at a pawnbroking company. 
Grimshaw was the Bank of Queensland chief executive until 2014.
<a href="https://www.realestate.com.au/property-house-nsw-mosman-124057046" target="_blank">The 1920s-era home</a>, with views from Clontarf to North Head, came with $7 million plus hopes through Dino Gatti of the Province agency.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2016/12/20/Mosman-2.jpg" alt="">
The home was redesigned by French architect Guy de Compiegne when owned by San Francisco-based technology network boss Pascal Brochier and his interior architect wife Sue-Anne, who sold to the Grimshaws in 2011 for $4.85 million.
The article first appeared in the Saturday Telegraph
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Texas pawnbroker Stuart Grimshaw sells in Mosman

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Fashion blogger Brooke Testoni and her designer husband Leith Testoni of Zanerobe have traded up in Mosman.
The creative couple have paid $3.85 million for the circa 1906 Arts and Craft manor (pictured above) that has been renovated and restored with contemporary updates.
The three level home has four bedrooms, three bathrooms, a grand formal lounge and a banquet dining room adorned with lead lights.
The landscaped gardens and level lawn are overlooked by an entertaining deck.
Leith and Brooke sold Tasma, a grand Victorian style terrace home off market for $2.75 million in August (pictured below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2016/12/23/Mosman-2.jpg" alt="">
Leith began Zanerobe, the leading outpost of menswear in Australia, with friend Jonathan Yeo in 2002.
Zanerobe is stocked in over 300 stores globally, including Los Angeles and New York.
Some of their biggest clients have been American singer Macklemore and former NBA star Nate Robinson.
Brooke has been in the fashion industry for over a decade with a background in graphic designed and e-commerce.
She has developed her blog from something on the side into a full time job.
This article was first published in the Saturday Telegraph
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Fashion blogger Brooke Testoni buys 1906 Mosman home

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The housing sector certainly seems to have finished off 2016 with a bang. Home prices surged by 1.4 per cent in December, according to CommSec's latest economic update report.
But it was more encouraging to see that the lift in home prices was more uniform across the capital cities, and even regional house prices recorded a healthy lift.
No doubt the improvement in economic conditions and low interest rates continues to fuel the interest in property.
Resource states noted a decent lift in prices over December.
And looking forward the lift in commodity prices may mean that the mining towns have come through the worst of the downturn.
Overall policymakers will keep a close eye on the housing sector the early part of 2017, and will prefer to see more balanced house price growth across the nation.
And in particular a further lift in regional house prices would be a positive outcome.
<a href="https://www.propertyobserver.com.au/images/2017/01/03/CS-1.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/03/CS-1.jpg" alt="">
Annual growth in home prices across regional centres is still just 2.8 per cent.
Global oil prices have risen steeply over the past couple of months, however motorists across some capital cities are still enjoying petrol at or below the cost price (terminal gate price).
In Sydney, Melbourne and Adelaide pump prices are around $1.21-$1.23 a litre – only 3-5 cents above wholesale prices.
Essentially motorists using fuel discount dockets will be buying petrol below cost.
The low petrol prices are not sustainable and prices in these capital cities are likely to lift markedly in coming days.
Interestingly in Brisbane and Canberra, prices are closer to a $1.30 a litre, while prices in Perth are closer to $1.40 a litre.
The production cuts announced by OPEC and non-OPEC nations were the first in 15 years and highlight the underlying concern about over-supplied oil markets.
The focus now shifts to see if oil producers comply with the stated production cuts.
The early indications are that producers are already notifying customers in Asia, Europe and the US of cuts to oil deliveries from January.
Importantly for motorists it means higher pump prices in the medium-term.
<a href="https://www.propertyobserver.com.au/images/2017/01/03/CS-2.jpg" target="_blank">Click to enlarge</a>
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The latest Australian manufacturing data is encouraging, suggesting that the current levels of interest rates and the Australian dollar are working in favour of domestic producers.
No doubt the sector is also benefitting from the stronger demand associated with the improved performance of the global economy.
The CoreLogic Home Value Index of capital city home prices surged by 1.4 per cent in December and was up 10.9 per cent over the year.
In regional Australia, house prices rose by 1.1 per cent in November and were just 2.8 per cent higher than a year ago. (Regional prices cover just houses and data is up to the end of November).
In capital cities, house prices rose by 1.4 per cent in December while apartment prices fell by 0.3 per cent.
House prices were up 11.6 per cent on a year ago and apartments were up by 5.9 per cent.
The average Australian capital city house price (median price based on settled sales over quarter) was $650,000 and the average unit price was $536,000.
Dwelling prices rose in five of the eight capital cities in December: Hobart (up 3.3 per cent), Melbourne (up 3.1 per cent), Perth (up 1.4 per cent), Sydney (up 0.9 per cent), and Brisbane (up 0.6 per cent). Prices fell in Adelaide (down 2.0 per cent), followed by Canberra (down 0.3 per cent) and Darwin (down 0.1 per cent).
Home prices were higher than a year ago in seven of the eight capital cities. Prices rose most in Sydney (up 15.5 per cent); followed by Melbourne (up 13.7 per cent), Hobart (up 11.2 per cent); Canberra (up 9.3 per cent); Adelaide (up 4.2 per cent), Brisbane (up 3.6 per cent) and Darwin (up 0.9 per cent). Prices fell in Perth (down by 4.3 per cent).
Total returns on capital city dwellings rose by 14.7 per cent in calendar year 2016 with houses up 15.3 per cent on a year earlier and units up 10.4 per cent.
The Performance of Manufacturing index rose by 1.2 points to 55.4 in December. A reading above 50.0 indicates that the sector is expanding.
AIG notes “Six of the seven activity sub-indexes in the Australian PMI® improved from November. Strong expansions in new orders (60.6 points) and sales (58.8 points) continued in December, while exports surged ahead (68.5 points), Production (58.2 points) also expanded more strongly while deliveries (52.4 points) continued to grow.
Employment (47.4 points) slipped in December, in line with recently weaker jobs growth. Five of the eight sub-sectors in the Australian PMI® expanded in December (three month moving averages).”
<a href="https://www.propertyobserver.com.au/images/2017/01/03/CS-3.jpg" target="_blank">Click to enlarge</a>
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“Comments from manufacturers in December indicate that demand (albeit somewhat mixed) appears to be improving again after a weak patch in the latter half of 2016.
The recovery in commodity prices has led to better conditions for manufacturers exposed to the mining sector, with some revival of mining investment and maintenance spending.
However, surging energy costs, weaker local demand and slower spending on particular major projects is depressing activity for some manufacturers.”
Today the national average wholesale (terminal gate) unleaded petrol price stands at a 14-month high of 118.4 cents a litre, up by 1.8 cents a litre over the week. The terminal gate diesel price stands at 115.1 cents a litre, up by 1.2 cents a litre over the previous week.
On Friday, the key Singapore gasoline price stood at a 16-month high of US$69.76 a barrel, up by US$1.66 or 2.4 per cent over the week.
In Australian dollar terms the Singapore gasoline price rose by $2.94 a barrel or 3.1 per cent to $96.82 a barrel or 60.89 cents a litre.
MotorMouth records the following retail prices for capital cities today: Sydney 121.2c; Melbourne 123.1c; Brisbane 129.8c; Adelaide 121.6c; Perth 138.9c; Canberra 127.7c; Darwin 129.3c; Hobart 128.7c.
Weekly figures on petrol prices are compiled by ORIMA Research on behalf of the Australian Institute of Petroleum (AIP).
National average retail prices are calculated as the weighted average of each State/Territory's metropolitan and non-metropolitan retail petrol prices, with the weights based on the number of registered petrol vehicles in each of these regions.
AIP data for retail petrol prices is based on available market data supplied by MotorMouth.
<a href="https://www.propertyobserver.com.au/images/2017/01/03/CS-4.jpg" target="_blank">Click to enlarge</a>
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The CoreLogic Hedonic Australian Home Value Index is based on Australia’s biggest property database. Unlike the ABS Index, which excludes terraces, semi-detached homes and apartments, the CoreLogic Hedonic Index includes all properties. Home prices are an important driver of wealth and spending.
The Australian Industry Group compiles the Performance of Manufacturing Index (PMI) each month. The Australian PMI is the Australian equivalent of the US ISM manufacturing gauge.
The PMI is one of the timeliest economic indicators released in Australia. The PMI is useful not just in showing how the manufacturing sector is performing but in providing some sense about where it is heading.
The key ‘forward looking’ components are orders and employment.
Petrol prices are headed higher. And given that petrol is the single biggest weekly purchase that most families make, higher pump prices may serve to restrain growth in spending.
If home prices lift too quickly policymakers will once again raise concerns about the need for a further tightening in lending standards.
Savanth Sebastian is a senior economist for CommSec.
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Major city home prices soar and mining towns get through the worst: Savanth Sebastian

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CoreLogic's head of research Tim Lawless estimates that there were around 465,500 dwelling sales over the 2016 calendar year, which was 8.7% lower than a year ago and 3.8% lower than the ten year average.
“Lower sales aren’t necessarily due to lower housing demand," he said.
"In most markets, the slowdown in turnover is more attributable to a shortage of stock available for sale rather than a lack of buyer demand.
"Low stock levels have fuelled a sense of urgency amongst buyers and contributed to short selling times and minimal discounting from vendors.”
Looking ahead across 2017, Mr Lawless noted that the housing market is likely to face some headwinds that may result in a moderation in growth rates.
“Mortgage rates were already trending higher towards the end of 2016, despite any movements in the Reserve Bank cash rate; higher mortgage rates have the potential to quell housing demand, especially considering the record-high levels of household debt which implies consumers are highly sensitive to changes in the cost of debt.
“We’re also seeing high levels of supply weighing down the rate of capital gains in the unit sector.
“With the peak in unit construction due over the coming year, potentially lower unit valuations relative to the off-the-plan contract price, may cause some disruption to the settlement process.”
Additionally, CoreLogic's Tim Lawless noted that regulators may consider implementing policies aimed at reducing investment activity in the housing market.
Based on ABS housing finance data, investors have been progressively increasing their share of mortgage demand since the May and August rate cuts last year. The latest data shows investors now comprise 49% of mortgage demand, excluding refinanced loans.
Mr Lawless said with rental yields at record lows, it is logical to assume investors are largely speculating on future capital gains in dwelling values and disregarding the low yield profile.
"If housing market investment activity does reduce, it has the potential to mitigate some of the upwards pressure on home values.
“Organic factors may also contribute to a reduction in buyer demand and growth rates such as fewer buyers who can afford high housing prices, particularly in Sydney and Melbourne where values have increased substantially more than in other cities.
“Consumer confidence may also affect buyer demand."
Lawless said there is a high correlation between consumer confidence and housing turnover.
"So if confidence measures continue to track lower we can expect consumers to be less willing to make high commitment decisions such as purchasing a property.
"While we expect 2017 dwelling values to rise at a lower rate than in 2016, there is still potential for further growth across Australia’s housing market.
"“Smaller capital cities such as Canberra and Hobart have demonstrated an accelerating growth trend and recent CoreLogic data suggests that Darwin and Perth may be approaching, or moving through the bottom of the downturn.
“Lifestyle markets are also becoming more popular as tourism improves and home owners look to leverage their new found equity,” Mr Lawless said.
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Headwinds ahead in 2017 for housing, but price growth still forecast: Corelogic's Tim Lawless

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December 2016 saw capital city dwelling values rise by 1.4%, taking the annual capital gain for the year to 10.9%.
CoreLogic calculated it was the highest growth rate for a calendar year since 2009.
"Factoring in gross rental yields and capital gains, housing as an asset class, earned a total annual return of 14.7% based on the combined capital cities index results," Tim Lawless, the CoreLogic head of research said.
Across Australia’s capital cities, the annual change in dwelling values for 2016 ranged from -4.3% in Perth to 15.5% in Sydney, with Melbourne and Hobart also showing annual capital gains higher than 10%.
“Capital city growth rates have also shown a growing divergence between the broad housing product types.
"Over the past twelve months we have seen capital city house values rise by 11.6%, while unit values have increased by roughly half the pace at 5.9%.
“The divergence in growth rates is the most distinct in Melbourne and Brisbane, where concerns around unit oversupply have eroded buyer confidence.
"Melbourne house values are up 15.1% over the year compared with a 1.7% rise in unit values, while Brisbane house values are 4.0% higher over the year, with unit values falling by -0.2%.”
<a href="https://www.propertyobserver.com.au/images/2017/01/03/Graph%201.jpg" target="_blank">Click to enlarge</a>
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The difference in Sydney between houses and units was houses up 16.7% and units up 9.6%, the report for the year noted. 
Lawless noted Australia’s regional housing markets generally did not experience the same growth conditions as the capital cities, with annual growth to November recorded at 2.8% across the combined regional markets.
Regional New South Wales showed the strongest growth conditions, with non-capital city house values rising 7.3% over the 12 month period to November 2016.
According to Mr Lawless, the remaining rest-of-state regions showed relatively sedate conditions, with values rising by half a per cent across regional Victoria, 1% across regional Queensland and 1.1% across regional South Australia.
Regional Western Australia recorded a 7% fall in house values over the year.
<a href="https://www.propertyobserver.com.au/images/2017/01/03/Graph%202.jpg" target="_blank">Click to enlarge</a>
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“Those regional areas with intrinsic ties to the mining and resources sector have continued to record weaker housing market conditions since the end of the mining infrastructure boom, with Perth and Darwin recording the weakest housing market conditions across the capital cities.
“Since values peaked in these markets during 2014, values have fallen by a cumulative 7.9% in Perth and 5.9% in Darwin.
"More recently both these markets have shown signs of moving through the low point of their respective downturns, with values rising by 2.8% and 5.9% respectively over the final quarter of 2016."
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Sydney price growth hits 15.5% during 2016: CoreLogic

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The Hall family have yet to sell what's been marketed as one of the most coveted waterfront land holdings in Noosa.
<a href="https://www.realestate.com.au/property-house-qld-weyba+downs-122159622" target="_blank">Weycoola</a> is for sale at $3.35 million through Jennifer Carr and Brendan Weatherill at Richardson &amp; Wrench.
The 1.38-hectare resort-style retreat comes with its own nine-tee golf course and private lake frontage.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2016/12/23/Weycoola-2.jpg" alt="">
Located within a 10-minute drive to Hastings Street overlooking Lake Weyba, there's extensive use of timbers and natural stone at the five-bedroom residence.
With cantilevered walkways linking its various pavilions, it was built for the boutique resort manager Gregory Coventry in 2009.
It last traded in 2012 when sold for $3,225,000 by Trade Travel founding directors Grant and Kay McGlashan.
The article first appeared in The Weekend Australian's Mansion section .
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Weycoola, overlooking Lake Weyba, Noosa remains for sale

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Australia’s capital city housing markets generally continued to report robust selling conditions through spring with prices on the rise, especially in Sydney and Melbourne.
There was near double digit national price growth during 2016, which was well above forecast.
Low interest rates, increased investor activity, solid economic performances, high migration and heady confidence fuelled the Sydney and Melbourne markets, according to Dr Andrew Wilson, Domain's senior economist.
"Although signs are increasing of subdued and weakening economic activity, the prospect for housing markets and prices growth – particularly in Sydney and Melbourne – remain positive for 2017," Dr Wilson said.
The auction market ended 2016 on a high note, particularly for inner suburbs.
"This augurs well for 2017," Richard Wakelin, director of buyers' agent Wakelin Property Advisory told the Australian Financial Review.
"Do not be surprised if the [Sydney and Melbourne] markets open strongly in mid-February after the six-week summer holiday break."
<div class="cq-article-content-paras section">
But away from the inner suburbs, CoreLogic's head of research Tim Lawless sees few signs of improvement in the capital cities and mining towns of WA and the NT.
Louis Christopher, of SQM Research, says it is likely 2017 will be the last year of price falls generated by the mining downturn.
Even Adelaide's weak economy has BIS Shrapnel Residential Property Senior Manager Angie Zigomanis seeing more downside than upside.
Forecasts for national capital city price growth range up to 12 percent.
It is property research group SQM Research's forecast of a national price growth of between 8 and 12 percent, assuming the Reserve Bank of Australia cuts the cash rate by 0.25 percentage points in the middle of 2017.
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SQM says if the cash rate remained unchanged in 2017, prices would still rise between 6 to 10 percent. 
"Affluent areas tend to be driven by the prosperity of local economy. And right now, both Sydney and Melbourne have the fastest-growing economies in the nation," SQM managing director Louis Christopher said.
The property analyst says if interest rates were cut again, prices would rise even further, paving the way for a possible correction in 2018.
CoreLogic's Tim Lawless told Fairfax hat the outlook for 2017 was "becoming increasingly challenging to give direction on".
</div>
"On one hand we have dwelling values broadly rising across most capital cities, however, as we look below the surface, it is clear that individual housing markets are at very different stages of the cycle and responding to vastly different economic and demographic conditions," he said.
<div>
Mr Lawless expects Sydney and Melbourne prices to grow between 9 and 10 percent in 2017 while Perth and Darwin would continue to lose value. 
BIS Shrapnel has tipped 1 to 3 percent house price growth across the national markets, mainly held back by falling apartment prices in Brisbane, Melbourne and parts of Sydney. For houses, BIS Shrapnel said prices would rise in all capital cities except Perth and Darwin. Sydney and Melbourne will top the rises at 4 percent.
AMP Capital chief economist Dr Shane Oliver remains bearish on apartments with his prediction Sydney, Melbourne and Brisbane apartment prices will fall as much as 15 to 20 percent because of the "massive multi-dwelling building boom" over the next two years. 
</div>
<div>
While Melbourne and Brisbane apartment prices will fall evenly throughout the city, Oliver says Sydney will have pockets where prices will fall include Parramatta, inner west Sydney and Bankstown. 
"There's a [supply] indigestion problem, but Sydney won't have a supply problem for another two years," he said.
Including houses, Oliver thinks national capital city price gains will slow to around 3 to 4 percent.
Domain's Dr Wilson says Sydney and Melbourne will continue to lead the pack and shoot ahead while activity in the other capitals remains “relatively benign."
Wilson is predicting lower interest rates, but doesn't say how many further cuts from the Reserve Bank to stimulate the ailing economy.
He sees Darwin and Perth as set to bottom out next year.   Domain's predictions for capital city house price growth in 2017:
<ul>
<li>Sydney (4%)</li>
<li>Melbourne (5%)</li>
<li>Brisbane (4%)</li>
<li>Adelaide (3%)</li>
<li>Perth (0%)</li>
<li>Hobart (2%)</li>
<li>Darwin (1%)</li>
<li>Canberra (5%)</li>
</ul>
Domain's predictions for capital city unit growth in 2017:
<ul>
<li>Sydney (3%)</li>
<li>Melbourne (3%)</li>
<li>Brisbane (-4%)</li>
<li>Adelaide (2%)</li>
<li>Perth (-3%)</li>
<li>Hobart (2%)</li>
<li>Darwin (-2%)</li>
<li>Canberra (3%)</li>
</ul>
</div>
<div>
Tabcorp's online website Luxbet is taking bets on which capital city will have the biggest capital appreciation for 2017, paying the highest odds for Melbourne at $3. 
</div>
</div>
</body></html>

Price growth set to slow, but no-one's tipping 2017 house price declines

<html><body>
Sydney's price growth continued through December it seems.
Despite all the distractions, the month saw year to date growth <a href="https://www.corelogic.com.au/research/daily-indices" target="_blank">hit 15%</a>.
There's just a few days left before CoreLogic sign off on 2016 data.
Melbourne too finished strongly with price growth, according to the daily index at 13% plus.
The CoreLogic Daily Home Value Index is part of the suite of housing market indices produced by CoreLogic measuring value changes across the Australian housing market.
The CoreLogic Daily Home Value Index aims to measure daily movements in the value of Australian housing markets.
But rather than relying solely on transacted sale prices to provide a measure of housing market conditions, the CoreLogic Daily Home Value Index is based on a ‘hedonic’ methodology.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/corelogic-nov.jpg" alt="">
</body></html>

Sydney's annual price growth surpasses 15%: CoreLogic daily index

Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.

Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.

The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.

The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.

Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.

“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.

Sherpa acquires new site for second Brisbane apartment tower

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

&nbsp;

&nbsp;

fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

&nbsp;

FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
&nbsp;

&nbsp;

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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Jonathan Chancellor

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