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<p>There were just five chances to buy under $500,000 across Sydney last weekend, on May 30.</p>
<p>10/22 Nagle Street, Liverpool $336,000 - a two bedroom unit (below) was the cheapest.</p>
<p><a href="https://www.realestate.com.au/photogallery_new.ds?id=119670199&amp;theme=rea.buy" rel="photos" data-id="119670199"><img src="https://i1.au.reastatic.net/456x342/defb7ae0bac81e6df0af5daa0ebd987515ddfdc117147de4f6c13f05a2106c54/main.jpg" alt="10/22 Nagle St, Liverpool" title="10/22 Nagle St, Liverpool" data-index="0"></a></p>
<p>Property Observer gleans the LJ Hooker Liverpool agent Pat Bugge sold it to an investor. It was up for rent last August at $290 a week, reflecting a 4.5% yield.</p>
<p>The block's previous highest two bedroom sale was $321,000 in early 2015, then put up for rent at $300 a week.</p>
<p>Then followed:</p>
<p>3/136 Sproule Street, Lakemba $380,000 - a two bedroom unit which last sold at $275,000 in April 2013.</p>
<p>6/21 Marlene Cr, Greenacre $405,000 - a two bedroom 62 sqm 1975 unit which last sold at $250,000 in October 2009. The landlord had been seeking $340 a week rental. </p>
<p>39/103 Longfield Street, Cabramatta $425,000 -a three bedroom unit last sold at $88,000 in 1997. It was up for $350 a week rental late last year.</p>
<p>14/1099 Botany Road, Mascot $452,000 - a one bedroom unit that last sold in 1991 at $90,000. </p>
<p> </p>
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jchancellor-FAypfDUnLy

Liverpool led the five cheapest sub-$500,000 Sydney weekend purchasing opportunities

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<p><span>As someone who owns a house in Sydney, I do hope our housing prices are increasing, said Prime Minister Tony Abbott in question time today. </span></p>
<p>The Prime Minister, asked in question time whether he agreed with John Fraser about the housing bubble in Sydney and parts of Melbourne, said he<span style="line-height: 1.3em;"> wanted housing to be affordable, "but nevertheless I also want house prices to be modestly increasing."</span></p>
<p>“Madam Speaker, the important thing is to ensure that our economy is as strong as possible so that people have as much resources at their disposal as possible, have jobs, so that they can go out there and buy the things they need including the housing that they need," the Prime Minister said</p>
<p>“This government is trying to make housing more available, we’ve tried to make housing more affordable, and the best way to make housing more affordable is to keep interest rates low and stable and that’s exactly what’s happening and trying to make sure the economy is strong.</p>
<p>“As someone who along with a bank owns a house in Sydney I do hope that our housing prices are increasing.</p>
<p>“I do want housing to be affordable, but nevertheless I also want house prices to be modestly increasing."</p>
<p><span style="line-height: 1.3em;">Tony Abbott co-owns his family home at Forestville, in his northern beaches electorate of Warringah.</span></p>
<p> </p>
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Rising Sydney house prices a Prime Ministerial hope

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<p>Online bidder 88 missed out when the Sydney Water Corporation sold its redundant Lilyfield site to bidder 66 in a bid-packed online auction. </p>
<p>The site at <a href="https://www.auctionworksonline.net.au/properties/232-lot-2-35-edna-street-lilyfield-2040-nsw-australia" target="_blank">Lot 2, 35 Edna Street, Lilyfield</a> was offered by online by the auction works website for Pilcher Residential.</p>
<p>The reserve price was met after just the second bid.</p>
<p>The bidding opened at $2.85 million. There were six bidders as the auction ended at 3pm today.</p>
<p>Property Observer understands a<span> Chinese developer paid the $4.95 with the auction underbidder a Chinese developer too.</span></p>
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<br><div class="propertyHeadline">It was offered as an "outstanding residential development site," a <span style="line-height: 1.3em;">500 metre walk to Light Rail &amp; City West Link.</span>
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<div class="propertyHeadline"><span style="line-height: 1.3em;"> </span></div>
<div class="propertyDescription">The prime development site occupies a 1224sqm parcel of land in a blue chip precinct of a popular inner west suburb featuring three street frontages. </div>
<div class="propertyDescription"> </div>
<div class="propertyDescription"><span style="line-height: 1.3em;">Bid History</span></div>
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<th width="60">Bidder</th>
<th>Amount</th>
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<tr class="bidItem bid_1042 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">66</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
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<div class="bidAmount reserveMet">$ 4,950,000</div>
<div><small>Mon, 01/06/2015 02:52 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_1041 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">88</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 4,850,000</div>
<div><small>Mon, 01/06/2015 02:51 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_1040 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">66</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
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<div class="bidAmount reserveMet">$ 4,800,000</div>
<div><small>Mon, 01/06/2015 02:50 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_1027 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">13</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 4,000,000</div>
<div><small>Mon, 01/06/2015 02:31 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_1026 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">66</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 3,950,000</div>
<div><small>Mon, 01/06/2015 02:30 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_1025 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">13</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 3,900,000</div>
<div><small>Mon, 01/06/2015 02:30 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_1023 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">66</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 3,850,000</div>
<div><small>Mon, 01/06/2015 02:30 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_988 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">13</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 3,800,000</div>
<div><small>Mon, 01/06/2015 11:07 AM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_987 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">50</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 3,750,000</div>
<div><small>Mon, 01/06/2015 11:00 AM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_986 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">88</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 3,700,000</div>
<div><small>Mon, 01/06/2015 10:45 AM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_983 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">13</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 3,650,000</div>
<div><small>Sun, 31/05/2015 07:58 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_980 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">8</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 3,600,000</div>
<div><small>Sun, 31/05/2015 06:43 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_978 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">13</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 3,550,000</div>
<div><small>Sun, 31/05/2015 05:27 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_977 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">6</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 3,500,000</div>
<div><small>Sun, 31/05/2015 04:39 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_976 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">13</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 3,200,000</div>
<div><small>Sun, 31/05/2015 04:19 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_974 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">6</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 3,150,000</div>
<div><small>Sun, 31/05/2015 03:22 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_973 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">13</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 3,100,000</div>
<div><small>Sun, 31/05/2015 02:43 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_972 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">8</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 3,050,000</div>
<div><small>Sun, 31/05/2015 02:32 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_971 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">13</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 3,000,000</div>
<div><small>Sun, 31/05/2015 01:10 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_970 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">8</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveMet">$ 2,950,000</div>
<div><small>Sun, 31/05/2015 01:05 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_969 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">13</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage">Reserve Met</div>
<div class="column">
<div class="bidAmount reserveMet">$ 2,900,000</div>
<div><small>Sun, 31/05/2015 01:01 PM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem bid_965 bidder">
<td align="center"><span class="profileThumb"><img src="https://www.auctionworksonline.net.au/images/profiles/male/thumb.jpg"><span class="bidderNumber">66</span></span></td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage"> </div>
<div class="column">
<div class="bidAmount reserveNotMet">$ 2,850,000</div>
<div><small>Sun, 31/05/2015 11:04 AM<small></small></small></div>
</div>
</td>
</tr>
<tr class="bidItem">
<td align="center"> </td>
<td align="right" valign="center">
<div class="float_left auctionBidMessage">Starting Bid</div>
<div class="column">
<div class="bidAmount">$ 2,850,000</div>
</div>
</td>
</tr>
</tbody>
</table>
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<p> </p>
<p><span>It was in 2008 when Sydney Water Corporation sought a site compatibility certificate for surplus lands at 35 Edna Street, Lilyfield to take on uses permissible within the surrounding residential zone.</span></p>
<p><span style="line-height: 1.3em;">The Heritage Branch of the NSW Department of Planning granted its consent for the proposal, considered acceptable with regards to its impact on the State Heritage Listed aqueduct. </span></p>
<p><span style="line-height: 1.3em;"> </span></p>
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Lucky 88 bidder fails to secure Water Corp's $4.95 million Lilyfield site

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<p><span style="line-height: 1.3em;">The three-bedroom apartment at 9/45 Wolseley Road, Point Piper sold at weekend auction for $4.1 million.</span></p>
<p>With 202 square metre internal space, it was sold to a publican by Stephen McMorrow of McGrath Edgecliff.</p>
<p>The unit, with 14 square front balcony, sold for $1 million over reserve, the level set after one sold for $2.95 million last year. It, set four floors below, was snapped up pre-auction.</p>
<p>There had been a 2010 sale of 7/45 at $3.75 million for a renovated apartment. The block's two storey renovated penthouse secured a $4.5 million sale in 2013.</p>
<p>There was an unusually high 10 registered bidders at the dress circle offering. </p>
<p><a href="https://www.realestate.com.au/photogallery_new.ds?id=119708915&amp;theme=rea.buy" rel="photos" data-id="119708915"><img src="https://i2.au.reastatic.net/800x600/7ecc50bcdaeb266cc3cb78c919d6525f15370b955909a02ad98b34f1cfe8fe62/image3.jpg" alt="9/45 Wolseley Road, Point Piper" title="9/45 Wolseley Road, Point Piper" data-index="2"></a></p>
<p>The whole-floor apartment last traded in 1968, reportedly bought off the plan for $93,750 by Veronica and Arthur Laundy snr, the founder of the Laundy Hotel Group. </p>
<p>It was bought by Arthur Laundy jnr's <span>nephew, Peter De Angelis.</span></p>
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Publican buys dress circle Point Piper apartment from publican

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<p><span>Savills Australia is marketing two showrooms occupied by national retailer, The Good Guys at Fountain Gate Super Centre in Melbourne’s outer east. </span></p>
<p><span>The property is expected to fetch more than $7.25 million when offers close<span> June 17.</span></span></p>
<p class="Normal"><span class="Normal__Char">The property at 48-50 Victor Crescent, Narre Warren, comprises showrooms 12 &amp; 13, totaling 2350 square metres.</span></p>
<p class="Normal"><span style="line-height: 1.3em;">Savills Australia industrial director Chris Jones says the property offers a secure income stream with a long established tenant of 15 years .</span></p>
<p class="Normal"><span style="line-height: 1.3em;">It comes with a ten year lease to Sheedy-Muirs Pty Ltd (The Good Guys) at a current net income of $561,605 per annum</span></p>
<p class="Normal"><span style="line-height: 1.3em;">"The property is part of a well-established showroom precinct including Snooze, Amart Sports Barbecues Galore, Ray’s Outdoors and Spotlight, which is located directly adjacent to a Bunnings Warehouse and the Fountain Gate Shopping Centre, the Monash Freeway, and Narre Warren-Cranbourne Road.</span></p>
<p class="Normal"><span style="line-height: 1.3em;">"The key driver for the co-location of such a plethora of national brand retailers has been the surrounding residential catchment in the City of Casey, one of Victoria’s fastest growing municipalities,’’ Mr Jones said.</span></p>
<p class="Normal"><span class="Normal__Char">Chris Jones said showroom properties had been popular with investors this year including the recent sales of a showroom in Epping which sold for circa $6 million on a 6.5% yield and a showroom at 1085-1087 Western Highway, Ravenhall which sold for $5.25 million on a 6.9% yield.</span><span style="line-height: 1.3em;"> </span></p>
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Savills selling Good Guys, Fountain Gate

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<div>The weekend auction offering at <span style="line-height: 1.3em;">13 Gaza Road, West Ryde </span>fetched<span style="line-height: 1.3em;"> $1,785,000, which was some $585,000 over reserve.</span>
</div>
<div><span style="line-height: 1.3em;"> </span></div>
<div>
<span style="line-height: 1.3em;">About 100 people </span>watched<span style="line-height: 1.3em;"> as 12 registrants </span>battled<span style="line-height: 1.3em;"> it out.</span>
</div>
<div><span style="line-height: 1.3em;"> </span></div>
<div><span style="line-height: 1.3em;"> Bidding started at $1 million and moved slowly in $10,000 and $20,000 increments until the reserve of $1,200,000. </span></div>
<div><span style="line-height: 1.3em;"> </span></div>
<div><span style="line-height: 1.3em;">The next $500,000 was varied in bids of $5,000 and $1,000 all the way to the end through Auction Services.</span></div>
<div><span style="line-height: 1.3em;"> </span></div>
<div><span style="line-height: 1.3em;"><span style="line-height: 1.3em;">"Too many bids to count but at a guess over 100 easily," auctioneer Rocky Bartaolotto said.</span></span></div>
<div>
<div> </div>
<div>"While a handful of properties had fewer than five bidders per property, the majority on Saturday had significantly higher - some well over double figures.</div>
<div> </div>
<div>"Overall as a result the average registered buyers across our auctions this weekend was showed a large increase from 8.3 bidders last week to almost 10 bidders per property.</div>
<div> </div>
<div>"An incredible jump week to week," he said. </div>
</div>
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Battle of the Gaza sees sale $585,000 over reserve at West Ryde auction

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<p class="first">John Fraser, the Commonwealth Treasury secretary, says Sydney was in a housing bubbl<span style="line-height: 1.3em;">e.</span></p>
<p>The senate hearing this morning, reported by the ABC, noted he said that there is no doubt in his mind there is a Sydney housing price bubble.</p>
<p>"When you look at the housing price bubble evidence, it's unequivocally the case in Sydney. Unequivocally," he said.</p>
<p>"Frankly, whatever the data says, just casual observation can tell you it's the case."</p>
<p>The latest CoreLogic RP Data statistics actually show that <a href="/expert-insights/buying/apartment-price-decline-mays-most-marked-trend-corelogic-rp-data">home prices went backwards last month</a>, everywhere except Darwin and Canberra.</p>
<p>John Fraser, who sits on the Reserve Bank of Australia board, advised there was<span style="line-height: 1.3em;"> little sign of a housing bubble outside Sydney and the higher-priced end of the Melbourne market.</span></p>
<p><span style="line-height: 1.3em;">But he expressed concerned about the size of investment in property buying </span>and<span style="line-height: 1.3em;"> even restoration projects.</span></p>
<p>"It does worry me that the historically low level of interest rates are encouraging people to perhaps over invest in housing," John Fraser said.</p>
<div class="cq-article-content-paras section">
<p>"I"m not just [talking] about buying housing, but I'm talking about investing in housing."</p>
</div>
<div class="related-quotes section"><span style="line-height: 1.3em;">"You just have to see these renovation shows … to realise something is amiss."</span></div>
<div class="cq-article-content-paras section">
<p>Mr Fraser said the house price problem was particularly confined to certain markets.</p>
<p>"It does seem a little bit like a feeding frenzy, but when you get out of those suburbs into the outer suburbs it's less the case."</p>
<p><a href="https://www.finder.com.au/rba-cash-rate" target="_blank" style="line-height: 1.3em;">Australia's biggest Reserve Bank survey</a><span style="line-height: 1.3em;"> conducted by finder.com.au </span><span style="line-height: 1.3em;">found that although the cash rate was expected to remain on hold tomorrow, Tuesday June 2, there could be another cut this year. </span></p>
</div>
<div><span style="line-height: 1.3em;">But with high property prices and interest rate hikes forecast for next year, more borrowers are expected to start fixing their home loans.</span></div>
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Sydney's unequivocal housing bubble: Commonwealth Treasury secretary John Fraser

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<p><span>Is new supply of apartment catching up with demand?</span></p>
<p><span>Decline in unit values was the most marked price trend in May, according to CoreLogic RP Data.</span></p>
<p><span>There was a 2.8% decline in May for Sydney apartments to a $648,000 median and a 2.5% decline for Melbourne apartments to a $480,000 median.</span></p>
<p><span>Melbourne house values are now 9.8% higher over the year compared with a 2.9% rise in unit values.</span></p>
<p><span>Every other capital city is seeing a similar, though not as marked, trend with the capital gain for houses recorded at a higher rate compared with the unit market.</span></p>
<p><span>“The higher supply levels are likely to be a primary reason why unit values are rising at a much slower pace than house values in Sydney and Melbourne," according to CoreLogic RP Data head of research, Tim Lawless.</span></p>
<p><span>"The pace of growth in unit values across Sydney is about half that being recorded across the detached housing sector, with house values up 16.4% (to $880,000) over the year compared with an 8.8% rise in unit values.” Melbourne house median sits at $620,200.</span></p>
<p><span>Overall dwelling price growth stalled in May with national dwelling values down 0.9% over the month, Tim Lawless said.</span></p>
<p><span>But the weaker reading across the May results is likely to be short-lived, he says, noting the May indices results marked the three year anniversary for the current growth cycle which commenced at the end of May 2012.</span></p>
<p><span>Since that time, Mr Lawless noted that capital city dwelling values have increased by 24.2% with Sydney values rising a significant 39.3 per cent since values bottomed out in May 2012.</span></p>
<p><span>Melbourne dwelling values have seen the second highest rate of growth over the current cycle, increasing by 22.4% while in Darwin, values are 18.3% higher.</span></p>
<p><span>Perth values are up 13.2% followed by Brisbane at 10.6%, Adelaide at 9.9%, Canberra with a growth rate of 8.3% over the cycle, and Hobart where values are 7.7% higher over the cycle to date.</span></p>
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<p><span>Highlights over the three months to May 2015</span></p>
<ul>
<li><span>Best performing capital city: Sydney +3.3% </span></li>
<li><span>Weakest performing capital city: Hobart -0.9% </span></li>
<li><span>Highest rental yields: Darwin houses with gross rental yield of 5.6% and Darwin Units at 5.8%</span></li>
<li><span>Lowest rental yields: Melbourne houses with gross rental yield of 3.2% and Melbourne units at 4.3%</span></li>
<li><span>Most expensive city: Sydney with a median dwelling price of $752,000</span></li>
<li><span>Most affordable city: Hobart with a median dwelling price of $328,000</span></li>
</ul>
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<p><span>Capital city rental yields remained steady over the month with the typical capital city rental dwelling attracting a gross yield of 3.7%, however yields have compressed substantially over the growth cycle to date.</span></p>
<p><span>“Over the past three years, dwelling values have risen more than three times as fast as rents," Tim Lawless said.</span></p>
<p><span>"Dwelling values are 24.2%higher across the combined capitals over the past three years while weekly rents have risen by only 7.2%.</span></p>
<p><span>"The net result is that gross rental yields have been compressed from 4.3% back in 2012 to the current average gross yield of 3.7% across the combined capital city index,” he said.</span></p>
<p><span>Rental yields are currently the lowest in Melbourne - a typical house is returning a gross yield of 3.2% while units are providing a higher gross yield, averaging 4.3%. Sydney follows closely behind, recording a gross yield of 3.4% for houses and 4.5% for units.</span></p>
<p><span>“If the current trend continues, it won’t be long before Sydney overtakes Melbourne as the lowest yielding city," Tim Lawless said.</span></p>
<p><span>"Sydney yields have slipped by 41 basis points over the past twelve months compared with Melbourne where the gross rental yield is 22 basis points lower.”</span></p>
<p><span>“Clearly, investors are not bothered by the low rental yields that are currently available with housing finance data showing investors comprise a record 51 of the value of new home loan originations, “ Mr Lawless said.</span></p>
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Apartment price decline May's most marked trend: CoreLogic RP Data

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<p><span>A BMW i3, the emission-free electric car, will be included in the first five apartment sales through RT Edgar at One Irving Road, Toorak.</span></p>
<p><span>Their garages will accommodate wiring for electric car chargers and will also include carbon dioxide monitoring systems.</span></p>
<p><span>The 18 apartment development offers four levels of two, three and four-bedroom apartments, and spaces for one, two, or three cars, with adjacent store rooms.</span></p>
<p><span><a href="https://www.oneirvingroad.com.au" target="_blank">One Irving Road</a></span><span> has city views, private gardens, balconies, dual lifts, keyless access systems and open gas fireplaces.</span></p>
<p><span>Prices for the apartments range from $1.55 million to $4.25 million in the contemporary four level building comprising 16 expansive single level apartments and two magnificent penthouses each with city skyline view, vista or leafy surrounds.</span></p>
<p><span>RT Edgar is making the offer in partnership with BMW Melbourne offering the first 5 purchasers at a free BMW i3 including the 15 amp i Wall box charging station.</span></p>
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<p><span><span>The BMW inclusion is to show their commitment to sustainable urban design in the premium development of 18 seven-star energy-rated apartments. </span></span></p>
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BMW i3 included in One Irving Road, Toorak sustainable project apartment sales

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<p>The Robert family have finally sold their impressive Mount White property for $3.4 million.</p>
<p>The 20-hectare Central Coast sanctuary - a four-bedroom home built from sandstone, glass and timber with views across the Hawkesbury River - was initially listed with $5 million hopes in 2009.</p>
<p>The open-plan architecture features local sandstone and red gum timbers. It is located about an hour to Sydney's CBD and 25 minutes to Gosford.</p>
<p>Around $4 million was sought by early 2010 for the trophy home with its dining and entertaining pavilion adjacent to its glass edged pool.</p>
<p>There is a two-bedroom guest house and an artist's studio. It has been a holiday rental recently.</p>
<p>It comes with approval for a helicopter landing pad. </p>
<p>Most recently <a href="https://www.realestateview.com.au/Real-Estate/morgans-road-mount-white/Property-Details-sold-residential-8037978" target="_blank">229 Morgans Road, Mt White</a> came with $3.6 million plus hopes through Brett Hunter at Raine &amp; Horne Terrigal.</p>
<p>The land traded for $490,000 in 1999.</p>
<p>Mount White's best known resident is adman John Singleton, who bought his initial holding in 1994.</p>
<p>The highest sale previously was $1.3 million in 2013.</p>
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NSW Central Coast Mount White $3.4 million trophy home sale

<p>Sydney developer&nbsp;<a href="https://www.apartments.com.au/developers/central-element">Central Element</a>&nbsp;is doubling down in Drummoyne, lodging plans for a boutique apartment development on St Georges Crescent, only one-kilometre down the road from its first Drummoyne development, Bianca.</p>

<p>The new project at 15A-21 St Georges Crescent,&nbsp;a&nbsp;1,701sqm north-facing site overlooking Iron Cove, will have 45 apartmnts across 10 levels. Eight of the units will be dedicated to affordable housing.</p>

<p>The site sits within walking distance of Drummoyne Village, Birkenhead Point, ferry services and the Bay Run, and offers harbour views towards the Sydney Harbour Bridge and CBD skyline.</p>

<p>Designed by MHN Design Union, the development will deliver a mix of one, two and three-bedroom apartments, alongside resident amenity including a gym, landscaped communal open space and three levels of basement parking.</p>

<p>The project has been lodged under the NSW Government's Low and Mid-Rise Housing reforms, with Drummoyne Village identified as a town centre capable of accommodating additional housing supply.</p>

<p>Central Element acquired the site earlier this year as part of its continued expansion across Sydney's eastern suburbs, lower north shore and inner west.</p>

<p>The developer's current pipeline includes luxury apartment projects Pearl Bondi and a separate development on Lamrock Avenue in Bondi, a residential project in Barry Street, Neutral Bay, and a mixed-use seniors living community in Greenwich.</p>

<p>Central Element Managing Director Nathan Chivas said the project would address a shortage of new owner-occupier housing opportunities in Drummoyne.</p>

<p>"While we're seeing a significant shift across Canada Bay as major infrastructure investment, population growth and planning reform drive a new chapter for the region, in suburbs like Drummoyne there remains a genuine shortage of new boutique luxury housing opportunities for owner occupiers," Chivas said.</p>

<p>"Sites of this nature are increasingly difficult to secure, particularly those that combine a north-facing aspect with direct water outlook. Our St Georges Crescent project responds directly to the market demand, offering a level of exclusivity, outlook and lifestyle in the highly sought after suburb."</p>

<p>The development application has been lodged with the City of Canada Bay Council, with the project expected to launch to market in early 2027.</p>

<p>&nbsp;</p>


Joel Robinson

Central Element seeks second Drummoyne apartment development

<p>The NSW Government has unveiled plans that could deliver around 1,300 new homes across Nowra and Kiama, continuing its push to unlock housing in well-located regional centres along the South Coast.</p>

<p>The proposals, now on public exhibition, would pave the way for around 830 homes in Nowra and a further 450 homes in Kiama, while also introducing affordable housing requirements and increased building heights in key locations.</p>

<p>The larger of the two proposals is centred on Nowra, where the NSW Government is seeking to rezone land within the Mandalay and Riverfront precincts.</p>

<p>The Mandalay sub-precinct, located close to Shoalhaven Memorial Hospital, Nowra Library and the city's aquatic centre, could accommodate around 530 new homes. Around 30 per cent of housing delivered on Homes NSW-owned land would be dedicated to social and affordable housing, equating to roughly 100 homes. Building heights would increase from the current two-storey limit to between three and six storeys.</p>

<p>A separate rezoning proposal for the Nowra Riverfront Precinct would unlock a further 377 homes while creating stronger connections between the Shoalhaven River and the CBD. The plans include building heights ranging from five to 12 storeys, floor space ratios of up to 2:1 and a requirement for two per cent affordable housing.</p>

<p>Together, the two proposals would deliver more than 900 homes across the broader Nowra area, reinforcing the city's role as one of regional NSW's key growth centres.</p>

<p>The housing push builds on previous infrastructure commitments in the Shoalhaven, including government funding aimed at supporting thousands of future homes in West Nowra through upgrades to water and wastewater infrastructure.</p>

<p>Further north, the NSW Government is also progressing plans for the former Kiama Depot site, a two-hectare parcel near Kiama's town centre.</p>

<p>The rezoning proposal would transform the former industrial site into a residential community capable of delivering up to 450 homes. Buildings would range between six and eight storeys, with at least 10 per cent of homes allocated as affordable housing. The proposal also includes approximately 600 parking spaces and improved walking and cycling connections.</p>

<p>Planning Minister Paul Scully said the proposals are designed to increase housing supply in locations close to jobs, transport and services.</p>

<p>"For too long, families have struggled to find somewhere to live, and activating underutilised sites allows us to deliver the new homes these families need," Scully said.</p>

<p>"The Minns Labor Government is getting on with the job of unlocking well-located sites close to transport, jobs, and town centres and building the homes our communities need.</p>

<p>"These rezonings are about removing barriers to housing delivery and making sure land is put to better use so more people can find a place to call home within the communities they choose."</p>

<p>The latest rezonings form part of the Minns Government's broader strategy to accelerate housing delivery across NSW, particularly in established centres where existing infrastructure can support additional population growth.</p>

<p>Community consultation on the proposals is now underway, with feedback set to inform the final planning controls before the rezonings are determined.</p>


Around 1,300 new homes earmarked for Nowra and Kiama as NSW Government pushes housing supply

<p><a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.</p>

<p>The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.</p>

<p><a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=350663]</p>

<p>The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.</p>

<p>Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.</p>

<p>Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=372756]</p>

<p>Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.</p>

<p>Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.</p>

<p>Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.</p>

<p>"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.</p>

<p>"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=350664]</p>

<p>MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.</p>

<p>"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.</p>

<p>"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."</p>

<p>[smartcode_project:default project_id=134403 project_image_fid=372761]</p>

<p>Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.</p>

<p>"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."</p>

<p>Construction at Maris is anticipated to be completed in 2029.</p>

<p>[smartcode_project_cta:default project_id=134403]</p>


Construction commences on MRCB’s $200m Maris Residences in Southport

<p>Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.</p>

<p>Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;</p>

<p>The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.</p>

<p>Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;</p>

<p>[smartcode_project:default project_id=142519 project_image_fid=372786]</p>

<p>Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;</p>

<p>The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;</p>

<p>Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.</p>

<p>"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.</p>

<p>[smartcode_project:default project_id=142519 project_image_fid=372788]</p>

<p>Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.</p>

<p>"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”</p>

<p>Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.</p>

<p>Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.</p>

<p>[smartcode_project_cta:default project_id=142519]</p>


Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

<p>A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.</p>

<p>Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.</p>

<p>The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.</p>

<p><img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" /></p>

<p>According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.</p>

<p>Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.</p>

<p>"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.</p>

<p>"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."</p>

<p>The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.</p>

<p><img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" /></p>

<p>Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.</p>

<p>The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.</p>

<p>The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.</p>

<p><img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" /></p>

<p>Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.</p>

<p>Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.</p>

<p>The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.</p>

<p>Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.</p>


Jonathan Chancellor

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