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There was keen bidding when a $4.18 million warehouse conversion sale was secured in Sydney's inner west at weekend auction.
The former automative workshop at Annandale (above and below) attracted five bidders, narrowly falling short of the suburb record. 
Bidding on the 274-square-metre property at <a id="LPlnk130493" class="x_OWAAutoLink" href="https://www.bresicwhitney.com.au/buy/22-nelson-street-annandale-20956" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">22 Nelson Street</a> started at $3.7 million.
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It sold to a young couple from Glebe who paid $80,000 above reserve through Chris Nunn and Nick Playfair from BresicWhitney.
They had shown about 250 groups through the property during the marketing campaign.
The Sam Crawford Architects-designed conversion won the 2016 MBA NSW winner for adaptive reuse.
"A remarkable change from an empty warehouse to a great living environment with lots of natural light throughout," the judging panel noted.
"Lowering the floor to obtain two storeys and including garages made the whole project come together.
"The mixture of recycled materials and new works well."
Filtered sunlight comes in from all angles of the home which offers 420 sqm of indoor and outdoor living space, including an open air courtyard with sawtooth beams above.
There's a second breakout living area on the mezzanine level, where there's also a king corner master suite with walk in wardrobe and dual ensuite.
The ground level features a home office with full bar and a wine cellar.
The last warehouse sale in the Sydney suburb was when The Block executive producer Julian Cress secured a record $4,275,000 through McGrath agent Damien West. Cress inherited the Johnstone Lane warehouse from his late father, the Archibald award-winning artist Fred Cress.
The four-bedroom weekend offering home came after the warehouse space was bought in 2013 by builder Joe Sidoti, director of developers SQ Projects, and wife Natalie for $1,525,000.
Sydney's top reported sale was at Woolwich.
The four bedroom house at <a id="LPlnk809740" class="x_OWAAutoLink" href="https://www.bresicwhitney.com.au/buy/5-margaret-street-hunters-hill-20425" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">5 Margaret Street</a> (below) fetched $4.3 million through BresicWhitney who had suggested a $4 million buyers' guide.
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It had last sold at $1.85 million in 2003.
A blank space offering was on offer nearby at Hunters Hill when a lawn tennis court (below) sold at weekend auction for $3.55 million, some $250,000 above reserve.
It fetched well above the $2.8 million it sold for in 2016.
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The 900 sqm holding came with plans approved for a five-bedroom house.
The bidding started at $2.9 million with two young families seeking the building opportunity at <a id="LPlnk490482" class="x_OWAAutoLink" href="https://www.wardpartners.com.au/selling/NSW/North-Shore-Lower/Hunters-Hill/House/1P1584" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">31 Woolwich Road, Hunters Hill.</a>
The grass tennis court was once part of the 1893 house next door.
Sydney’s weekend auction clearance rate rose to 56.7 per cent from 294 reported results of 540 scheduled auctions.
Click here <a href="https://www.propertyobserver.com.au/images/2019/3/18/CL-March18.jpg" target="_blank">to enlarge</a>.
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The result was up on the 54.6 per cent preliminary clearance rate reported last weekend, which was after late results revised down to 48.2 per cent by Domain.
Melbourne's top result was <a id="LPlnk58530" class="x_OWAAutoLink" href="https://www.nelsonalexander.com.au/property/762779/22-gore-street/" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">22 Gore Street, Fitzroy</a> (below) which fetched $2.7 million after auction where it was passed in at $2.62 million.
The corner terrace had been listed with $2.5 million to $2.75 million price hopes through Nelson Alexander.
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The two bedroom 1860s terrace, on the corner of Little Victoria Street, had last traded in 2013 at $1,476,000.
The Domain Group reported an auction clearance rate of 54.8 per cent from 526 reported auctions of 744 scheduled auctions.
Former North Melbourne footballer Lindsay Thomas and wife Hannah didn't sell their Gowanbrae house which The Herald Sun reported passed in on a single $680,000 vendor bid. 
It now has <a id="LPlnk357820" class="x_OWAAutoLink" href="https://www.alexkarbon.com.au/buying/VIC/North/Gowanbrae/House/1P2051" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">a $735,000 asking price</a> through AlexKarbon agent Charles Bongiovanni.
The three-bedroom house, about 16kms north of the Kangaroo's training base, was bought in 2009 for $455,000 by the couple who have moved back to Adelaide after Thomas signed with Port Adelaide. 
Melbourne was the weekend's busiest capital, and had the second best clearance rate behind Sydney.
The REIV reported several Victorian suburbs and towns have recorded 100 per cent clearance rates so far in 2019 with six sales under the hammer in Warrnambool, three in Williams Landing and two in Clyde North.
The cheapest sale across the capital cities was in Melbourne at $270,000, but the price had fallen slightly since its last sale.
The <a id="LPlnk132829" class="x_OWAAutoLink" href="https://www.garypeer.com.au/search/view/1+16-newlyn-street-caulfield/6761#.XI3q2S0ZPs0" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">1/16 Newlyn Street, Caulfield</a> offering sold through Gary Peer who'd had a $250,000 to $275,000 price guidance.
The ground floor one bedroom unit had last sold at $271,000 in 2012.
There was a 36 percent sales success at Brisbane auctions from its 75 listings.
Canberra saw a 46 percent success rate from 64 listings.
There was a 50 percent success rate of the 70 listings in Adelaide.
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jchancellor-FAypfDUnLy

Sam Crawford-designed Annandale warehouse conversion attracts big weekend auction crowd

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Housing affordability supposedly ranks as a top-three Federal election issue, after the cost of living and healthcare and ageing, according to a survey by the Housing Industry Association.
Affordability ranked ahead of immigration and the environment, concluded the JWS Research survey of 1500 people.
"The importance of home ownership to Australians couldn't be clearer. Now more than ever, home ownership matters," the Housing Industry Association chief economist Tim Reardon noted.
It comes as first home buyers have been more active in the market with Sydney housing around 10% more affordable than this time last year.
A typical Sydney dwelling now costs $789,000, below the $884,000 it was early last year, according to CoreLogic. The biggest Sydney declines have been in the municipalities of Ryde and Canterbury-Bankstown.
Of course, it is not just those aspiring to first home ownership that worry about affordability, as separate polling research in Tony Abbott's seat of Warringah on Sydney's Northern beaches indicated.
The concerns of Warringah voters focused around infrastructure, especially roads and traffic congestion, population growth, environmental concerns, but also housing affordability for their children.
The focus groups, sponsored by the University of Canberra’s Democracy 2025 project and conducted by Landscape Research, suggested older Warringah voters were more engaged, more readily able to discuss issues in federal politics, while younger voters have largely tuned out, feeling powerless.
Reardon said the Australian dream of owning a home was "still embedded in the psyche of Australians". He adds with a federal election imminent, it was important to recognise that 71% of people believe governments have an important role in helping Australians achieve their dream.
Interestingly, the HIA research found that home ownership was viewed as especially important to achieving financial stability in retirement.
This comes as there's continuing debate about whether first home buyers should be allowed to access their superannuation.
It flared again recently after a key recommendation from Kenneth Hayne's Financial Services Inquiry.
Hayne says superannuation should be solely to look after Australians in retirement, not first home purchases.
Any incoming Federal Labor Government will accordingly phase out the Coalition government's First Home Super Saver Scheme that allows first timers to access their super accounts.
The scheme, which enables first time buyers to access extra savings put into their superannuation account, was introduced in the 2017 budget by then treasurer Scott Morrison. He argued it would help young people accelerate their savings to buy into markets.
Between the start of the program on July 1 last year and February this year, around 2400 people have made requests to access their super top-up.
That equated to around 4% of the first home buyers who'd secured a home loan over the period.
They have sought the release equating to a helpful $12,000 per person.
Labor voted against the scheme when it was created, but assures current users of the scheme they will not be affected by their policy. 
It is one of many housing schemes ditched by governments in recent times as they come and go.
We have seen off the National Rental Affordability Scheme and the First Home Saver Account schemes too.
I'd suggest one reason for the young voter feeling powerless was this constant changing tides with policy.
Navigating the housing market with confidence, for any age, requires policy consistency from our federal leaders.
This article first appeared in The Daily Telegraph. 
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Navigating the housing market with confidence requires policy consistency from our federal leaders

The Dolphin Point home that got a make-over by the team at Selling Houses Australia last month has been snapped up for $1.2 million pre-auction.

It was sold after 22 days on the market for homeowners Steve and Serena Blakey.

The newly married purchasers from Leeton - she is an artist and he is an ex-farmer - were looking for a sea change.

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The four bedroom home had previously been for sale since late 2017 when it came with $1.3 million.

Its price had dropped to $1.18 million late last year, just before its&nbsp;makeover by the&nbsp;designer Shaynna Blaze and gardening expert Charlie Albone.

The asking price dipped to $1.2 million last May.

There have been just five sales above $1 million at Dolphin Point since 2013, with three of them last year.

Perched on the headland, with panoramic ocean views, the 1960s beach house has been transformed by the team of designers.

They added a contemporary feel but retained the retro vibe of the property on Seaside Parade.

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Foxtel&rsquo;s Selling Houses Australia host Andrew Winter has been exploring the sleepy hamlet south of Ulladulla.

Prior to the make-over, the Selling Houses Australia team described the home as &ldquo;dated, mismatched and needing a lot of small maintenance jobs&rdquo;.

&ldquo;This is one family that desperately need our help,&rdquo; Winter said.

The&nbsp;<a data-auth="NotApplicable" href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=AqX%2Fyxxn%2FCsKfNEzXNs%2BvxKe7ZZW379%2BIapVVCHkcj06tGRioNXHyeuLBhl6q6izqj%2FvASlSUJqBmaPgZslF%2BTU6OAk5d%2FywLkkLd%2B20tTdFRy2fNumWYIFMYLhR9rHyXn%2F5ZEd%2BilE%3D&amp;G=0&amp;R=https%3A%2F%2Fmaps.google.com%2F%3Fq%3D45%2BSeaside%2BParade%2BDolphin%2BPoint%26entry%3Dgmail%26source%3Dg&amp;I=20190221051014.000000d54961%40mail6-60-usnbn1&amp;X=MHwxMDQ2NzU4OjVjNmUzMmI0MWNmNjEwYTZmNDM4OTEwNjs%3D&amp;S=tACA-s78FDVKndhlaWUGqp5MOwnDaLA2yM_lyWovye0" id="LPlnk633125" rel="noopener noreferrer" target="_blank">45 Seaside Parade Dolphin Point</a>&nbsp;episode will likely air in the finale for the series in May.

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The Raine &amp; Horne Mollymook Milton agent Ben Pryde who secured the sale said it had &quot;been a whirlwind, but loads of fun&quot;.

&ldquo;The show will really showcase our region as a jewel on the South Coast.&rdquo;

Pryde said more than 80 turned out for the reveal open for inspection.

The Selling Houses Australia episode focusses on the lives of Steve and Serena Blakey and their four kids, who have loved the last 17 years living on the coast since paying $405,000 in 2002.

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It&rsquo;s been a wonderful place for the couple to raise kids and indulge their passion for surfing, but a few years ago their world was rocked when their youngest son contracted encephalitis (inflammation on the brain).

The family are selling up to fund his treatment.

Dolphin Point trophy home sold after Foxtel’s Selling Houses Australia makeover

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It was Brisbane's turn in the weekend auction spotlight when eight buyers registered to secure a $7.75 million New Farm offering.
It was sold through Ray White to a local property developer family by vendors Glenice and Allan Mein.
It is understood to have been purchased by Queensland rich-lister Kevin Seymour, after his grandson was spotted at the onsite auction.
The vendors had lived at the grand <a href="https://www.propertyobserver.com.au/https://rwnf.com.au/properties/residential-for-sale/qld/new-farm-4005/house/2043224" target="_blank">Griffith Street five-bedroom riverfront</a> for the last 20 years.
Ray White agent Matt Lancashire said four bidders were active after the bidding opened at $4 million.
"It quickly jumped in rapid-fire $500,000 increments to pause at $7 million.
“We had 80 groups through over the four week campaign.
"There were three written offers prior. . “This is a great sale for Brisbane and the prestige market and a good sign of things to come," Matt Lancashire said.
There is no boardwalk obstructing access to river.
Brisbane recorded a 36 percent preliminary clearance rate from the initial 97 reported results, including the nation's cheapest weekend auction sale.
It was when <a href="https://www.propertyobserver.com.au/https://www.century21.com.au/property/residential/buy/qld/4207/beenleigh/455892" target="_blank">16 Quarrian Crescent, Beenleigh</a> fetched $275,000.
The single level four bedroom house last sold for $215,000 in 2005.
It was initially listed last year with $299,000 aspirations.
Sydney's initial 61 percent success rate was the nation's busiest and strongest market, although only half of the 670 auction results were provided in the provisional result.
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It also saw a likely $8 million pre-auction sale in Centennial Park.
<a href="https://bencollierteam.com.au/property/48-martin-road-centennial-park/" target="_blank">Warwick, the Martin Road property</a> was sold through The Agency’s Ben Collier, who quoted a price guide of $8 million.
It was last sold at $5.1 million in 2005.
Warwick, the modernised Federation, was once owned by the University of NSW as its residence for its Vice-Chancellor.
With the Labour Day long weekend, Melbourne agent offered far fewer than normal.
There was a 51 percent success rate from the initial advisory of the 137 of the 222 on offer.
The top sale was at Elwood where $2.555 million was paid for a four bedroom Californian bungalow.
The <a href="http://www.chisholmgamon.com.au/buying/auction-times/view/1P13943" target="_blank">6 Vautier Street, Elwood</a> offering had been marketed with $2.3 million to $2.4 million price guidance.
The 1920s home last sold in 2012 at $1.75 million.
AMP Capital chief economist Shane Oliver suggested the weekend offerings indicated "volumes remaining weak."
He tweeted a number of factors, including "tight credit, record unit supply, sharp fall in foreign demand, negative gearing and CGT uncertainty are continuing to impact."
Adelaide was the second strongest city with a 54 percent success rate from the initial 46 results.
Adelaide's cheapest result was $560,500, according to Domain, when <a href="https://garyjsmith.com.au/listings/residential_sale-1808518-seaton/" target="_blank">31 Fortrose Avenue, Seaton</a> was sold.
The three bedroom house had a $499,000 price guide.
It last sold at $299,000 in 2004.
Canberra prices topped at $840,000, with a 38 percent success rate.
The top sale was the four bedroom home at <a href="https://tuggeranong.ljhooker.com.au/house-in-bonython-act-2905-au-2e4hqh?search=%2fsearch%2fhouse-for-sale%2fpage-1%3fsurrounding%3dFalse%26liveability%3dFalse#.XIPxcC-B2T8" target="_blank">36 Don Dunstan Drive, Boynton</a> which was a Rawson Homes-built offering sold through LJH Tuggeranong. 
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Weekend auctions led by strong riverfront sale in Brisbane

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Suncorp has unexpectedly declared a residential mortgage bond worth $120 million may not repay all investors.
It came after the share of borrowers in arrears rose to a trigger point, putting the distributions in doubt.
It has been reported it ranks as the first local mortgage bond to encounter difficulty since the global financial crisis, although this is disputed.
The original mortgage pool was heavy orientated to Queensland properties.
There are now around 1000 of the original 4800 loans still owing at an average $118,000.
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“It certainly is a canary," CLSA banking analyst Brian Johnson said, although others suggest not so.
“To get to this point, for a securitisation this old to go bust — that is weird,” Mr Johnson said.
“We think it is an isolated case,” Commonwealth Bank says in a credit strategy note Tuesday. “We are cautious of the development but not alarmed.”
The tranche of mortgages in the <a href="https://www.suncorp.com.au/content/dam/suncorp/corporate/documents/investors/investor-reports/2019/a17-2010-1-investor-report-feb-19.pdf" target="_blank">Apollo series trust</a> sold in 2010 reached a rate of 3 per cent of borrowers more than 60 days overdue on their mortgage, the Queensland-based bank yesterday said.
Suncorp said the announcement did not affect other tranches of loans in the Apollo trust.
The 3 per cent arrears figure on the group of borrowers is three times the rate of arrears in Suncorp’s broader mortgage portfolio of about 1 per cent.
The series trust which has shrunk from its original volume of $1 billion since it was first sold to investors.
Suncorp said all investors were expected to continue to receive monthly payments on the instalments on interest, but the principal amount on their investment would be diverted from subordinated debt holders to the highest class of shareholders, AAA note holders.
The distributions will be then staggered according to the class of shareholders until all funds are exhausted.
Suncorp also expected the Apollo trust tranche to shrink further over the coming year to meet the 10 per cent threshold which allows the bank to close the trust.
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The bank said at this point, subject to regulatory approval, it was expected that all holders were expected to receive the full principal amount once the trust was called.
“In the case of the APOLLO Series 2010-1, this is a very small number of customers going into arrears. As for the broader Suncorp retail portfolio, the total arrears is low at around 1 per cent,” a Suncorp spokesman said.
The mortgage bond was referred to in <a href="https://www.rba.gov.au/information/foi/disclosure-log/pdf/121305-65-74.pdf" target="_blank">a 2012 RBA analysis of LVRs</a>.
There is no indication of the location of the properties in default, with speculation the bond has disproportionate amounts of mining-boom towns.
There was a strong Brisbane presence in the original loans.
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The purchase price for the mortgage loans was $999,949,816.
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They were required, generally, to be secured by a registered first ranking mortgage over Australian residential property (in limited circumstances a property can be secured by a second ranking mortgage). 
It has been suggested the incident is not unprecedented, as other securitisation transactions have failed step down provisions in recent years due to delinquency rates and unreimbursed charge-offs that were subsequently repaid or cured and the transactions in question have reverted to pro-rata pay.
These step-down provisions are in place to protect senior note-holders and on each occasion the mechanisms have worked as planned.
For the Apollo 2010-1, there are no charge-offs to outstanding notes, all principal balances of notes are still 100% (i.e. Invested Amount equals Stated Amount per 3rd Feb reporting).
The transaction features 100% mortgage insurance coverage (LMI) from QBE LMI, which provides an additional layer of coverage for the noteholders in the event of mortgage default; to date there have been zero reported losses on sale with no LMI claims.
The current transactions size is $120 million down from an original $1bn, a pool factor of 12 percent.
The transaction features a 10 percent clean up call.
Suncorp have exercised these 10 percent clean up-calls on previously outstanding transactions. 
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Suncorp arrears shock in 2010 residential mortgage bond

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Home loan credit conditions tightened more than was probably required, the RBA governor Philip Lowe said today. 
"Overall, the evidence is that a tightening in credit supply has contributed to the slowdown in credit growth," he told the AFR Business Summit.
"The main story, though, is one of reduced demand for credit, rather than reduced supply.
"Even though the slowing in credit growth is largely a demand story, we are watching credit availability closely.
"It is perhaps stating the obvious to say that we want lenders who are both prudent and who are prepared to take risk.
"As lenders recalibrated their risk controls last year, the balance may have moved too far in some cases.
"This meant that credit conditions tightened more than was probably required.
"Now, as lenders continue to seek the right balance, we need to remember that it is important that banks are prepared to take credit risk.
"And it's important that they have the capacity to manage that risk well.
"If they can't do this, then the economy will suffer," Dr Lowe said.
"It has also been apparent through our liaison that some lenders became more cautious last year." "No discussion of housing prices is complete without touching on interest rates and the availability of finance. The low interest rates over the past decade did increase people's capacity to borrow and made it more attractive to borrow to buy an asset whose price was appreciating. But the increase in housing prices is not just about low interest rates."
Dr Lowe noted that recently there had been much attention paid to the availability of credit.
"This attention has coincided with a noticeable slowing in housing credit growth, especially to investors (Graph 10).
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<img src="https://www.rba.gov.au/speeches/2019/images/sp-gov-2019-03-06-graph10.gif" alt="Graph 10: Housing credit growth">
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"It is clear there has been a progressive tightening in lending standards over recent years.
"The RBA's liaison suggests that, on average, the maximum loan size offered to new borrowers has fallen by around 20 per cent since 2015.
"This reflects a combination of factors, including more accurate reporting of expenses, larger discounts applied to certain types of income and more comprehensive reporting of other liabilities.
"Even so, only around 10 per cent of people borrow the maximum they are offered.
"Sensibly, most people borrow less than what they are offered, so the effect of this reduction in borrowing capacity has not been particularly large."
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Home loan credit conditions tightened more than was probably required: RBA

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Warwick in Centennial Park, which was due to go under the hammer this weekend, has been sold.
The Martin Road property was listed through The Agency’s Ben Collier, who quoted a price guide of $8 million.
It was sold by the Ross family who paid $5.1 million in 2005.
It had previously traded at $3.8 million when sold by the Kemeny family.
The buyer was the highest bidder of a home up for auction at 21 Robertson Road, according to the local paper, The Wentworth Courier.
<a href="https://www.realestate.com.au/property-house-nsw-centennial+park-130433310" target="_blank">Warwick, the modernised Federation</a> which resonates charm, was once owned by the University of NSW as its residence for its Vice-Chancellor.
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Warwick, Centennial Park sells pre-auction

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Queensland's housing markets are expected to rank among the best performing across Australia during 2019 as they have the key factors that drive growth – liveability, affordability, booming infrastructure and enhanced economic prospects.
The Sunshine State leads the nation when it comes to confidence in residential property, as the gears shift from recovery to rising prices.
The NAB Residential Property Index recently tipped Queensland house prices will grow the fastest of the nation over the next two years.
The survey of more than 300 property professionals confirmed rising sentiment around the Queensland markets. And these property professionals also saw Queensland leading the way when it comes to rental growth.
South East Queensland is tipped to be the prime beneficiary of Sydney and Melbourne’s property slowdown, with the state possibly set to return to its place as Australia’s No 1 destination for interstate migration, as more families and downsizers from the southern cities cash-in for a lifestyle in the sun.
2018 saw strong price growth across Queensland, from suburbs of Brisbane to the coastal localities.
Economic growth and jobs now assisting the property market’s performance as Queensland emerges from the shadow of the mining downturn. 
It is the value gap between the East coast capitals that makes the move compelling for many.
The value gap is the largest it has ever been between Brisbane and Melbourne and the largest in 15 years with Sydney, according to CoreLogic.
A typical house in Brisbane is around $393,000 cheaper than Sydney and $227,000 cheaper than Melbourne, with Brisbane's median sitting at $542,000.
Observers suggest this affordability, coupled with positive economic signs, means Queensland is primed for future growth. 
The increasing opportunity to work remotely, having set up a home business, or taking up a new job in Queensland is a do-able option.
Brisbane's median house price sits at new highs, after posting a 2.3 percent increase in the September quarter, with the Real Estate Institute of Queensland (REIQ) CEO Antonia Mercorella saying the strength of growth proved that Queensland real estate was a good investment and could be relied upon to deliver capital growth.
“While other markets around the country are struggling in the face of tightened lending criteria and cooling investor appetite, the southeast corner of Queensland continues to deliver steady, sustainable growth,” Mercorella said.
“Queensland’s economy is proving itself to be a good performer, against a backdrop of national gloom, with new jobs bringing population growth and demand for housing."
The REIQ found coastal Queensland locations ranking as the state's strongest performers during 2018.
These included Mackay's housing market which has come back from the mining downturn to post 5.6 percent annual growth in its median house price, according to the REIQ's late 2018 figures.
"We are confident this growth can continue for the moment," the REIQ advised.
The region has the lowest unemployment rate in the state at 3.3 percent, while the population is growing as jobs attract workers back to the region and the rental market is one of the tightest in the state with just 0.9 per cent vacancy.
With a $340,000 median house price, Mackay is still one of the most affordable coastal districts, with prices still at levels below the peak of the mining boom five years ago.
The tightening of bank lending standards has been seen across Queensland, as noted by the latest SEQ report by Ray White on house and land sales.
Despite this there has been an increase in house and land package prices, up 7.8 percent in Brisbane, up 5.05 percent on the Gold Coast sales and 4.99 percent on the Sunshine Coast where house and land package are a popular way to create a new start.
Estate agent John McGrath noted recently that Queensland’s top two regional performers were the Sunshine Coast and the Gold Coast due to rising demand from interstate home owners and investors. 
One of McGrath's pinpointed suburb's to look out for in 2019 was Pimpama, in the northern part of the Gold Coast.
Pimpama recorded Queensland’s fastest population growth at 31 percent in FY17, with many enthusiastically buying or building brand new homes.
"Pimpama is affordable with a median house price of $475,000 and is located within the rapidly developing northern Gold Coast region along the M1 corridor," McGrath said.
The $100 million Pimpama City Shopping Centre opened in 2018 and the $56 million Northern Gold Coast Sports and Community Precinct is set to open in 2020.
There's also plans for a new train station to better connect Pimpama to Surfers Paradise.
 
 
 
 
 
 
 
 
 
 
 
 
  The economic forecaster BIS Oxford Economics concluded Brisbane will lead the mainland capitals with price growth.
 
JUST ADDED
 
 
 
 
 
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Queensland to rank among best state markets in 2019

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The 2018-19 NSW State Government surplus is projected to be $846 million, which is $273 million lower than at half-yearly review.
The details were in the NSW Pre-election Budget Update which was issued in accordance with section 24 of the Parliamentary Budget Officer Act 2010.
The Secretary of the Treasury released the NSW Pre-election Budget Update on 5 March 2019 which provides updated information on the current and projected financial position of the New South Wales general government sector.
This is the first time New South Wales has released a <a href="https://www.treasury.nsw.gov.au/news/nsw-treasury-releases-updated-economic-and-fiscal-projections" target="_blank">Pre-election Budget Update</a>.
The revenue for 2018-19 is forecast to be $477 million lower than at half-yearly review, reflecting weaker taxation estimates, including transfer duty and payroll tax.
The review noted the ongoing deterioration of conditions in the housing market had been a key challenge for the local economy in recent months.
Turnover in the housing market has fallen away sharply, while the median Sydney house price has fallen another 11⁄2 per cent in the two months since November 2018.
The Sydney house price is now down more than 10 per cent from the peak in mid-2017.
"This is the largest fall since the 1980s, but represents only a partial unwinding of the sustained price gains experienced in recent years," it noted.
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Revenue for 2018-19 is projected to be $81.3 billion, which is a downward revision of $477.3 million since the Half-Yearly Review. 
This takes into account downward revisions to multiple state taxation lines, including transfer duties of $393 million.
Transfer duty has been revised down by $393 million in 2018-19 and by $747 million over the four years to 2021-22.
While dwelling price declines have been closely in line with the Half-Yearly Review forecast, residential transaction volumes in recent months have been weaker than expected.
Residential transaction volumes in 2018-19 are expected to be 19.5 per cent lower than in 2017-18.
Transaction volumes are forecast to return to trend levels by the middle of 2021.
Since the Half-Yearly Review in December 31, 2018, revenue has been revised up by $363 million over the four years to 2021-22.
This is mainly due to higher GST revenue of $1.2 billion (reflecting an improved relativity recommended by the Commonwealth Grants Commission and a lower expected GST pool), largely offset by downward revisions to state taxation – including transfer duties ($747.0 million) and payroll tax ($573.1 million).
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Expenditure for 2018-19 is also projected to be $204 million lower reflecting reprofiling of expenses to better align with project and service delivery schedules.
Over the four years to 2021-22, budget surpluses are expected to average $1.3 billion per year. 
The update also advises land tax revenue has been revised down by $21.8 million in 2018-19 and by $82.8 million over the four years to 2021-22.
Land tax is assessed based on landholdings at 31 December each year, with assessments typically issued in the first half of the following calendar year.
The forecast revenue for 2018-19 incorporates actual landholdings at the end of 2018, replacing the Half-Yearly Review forecast which was based on the previous year’slandholdings.
For subsequent years, the revenue forecast incorporates lower expectations for residential land value growth.
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$393 million lower stamp duty hits NSW State Government revenue

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Foreign investor interest in Australia remains strong, the Foreign Investment Review Board (FIRB) chair David Irvine suggests.
But the latest FIRB report revealed a strong shift with the United States stepping up its investment in the 2017-18 period accompanied by declining Chinese investment easing into second place.
The United Kingdom, Singapore, Canada, the Netherlands and France make up the top seven.
The latest report on foreign investment showed the US recorded a $10 billion increase in approved investment to $36 billion in 2017-18, with significant increases in real estate and the manufacturing, electricity and gas sectors.  
China was the second largest source country with a $15 billion decrease in approved proposed investment to $23 billion.
The reduction in approved Chinese investment was due to falls across all investment sectors but especially property. Chinese proposed investment peaked at $47.3 billion in 2015–16.  
Chinese investment in real estate dropped to $12.7 billion in 2017-18 from $15.3 billion the year before, though still accounted for a quarter of foreign real estate investment.
Victoria gets the greatest share of Chinese residential investment with 46% of all approvals, with NSW in a distant second with 23% followed by Queensland's 17%.
The data doesn't track people who don't need to request approval, which means NSW might be actually getting more investment. 
But it seems Melbourne retains advantages over Sydney in terms of prices and taxes. 
Chinese buying is being impacted by several factors, local and international.
There's been the unexpected cancelling of promised mortgage loans by Australian banks, plus the higher foreign stamp duty taxes, along with Chinese government capital controls making it more difficult to move money from China, suggests Carrie Law, the boss of the Chinese property portal Juwai.
"We expect Chinese buying to be flat in 2019," Law thinks.
I don't think we ought regard the recent trend as permanent given tailwinds that will support Chinese buying including the still-strong Chinese wealth growth.
There is the desire to get a bargain while the market is soft. Plus, Law suggest there is a lack of investment opportunities in China, along with a possible shift in investment from the U.S. to Australia due to any emerging trade war.
Additionally the yuan’s weakness is not holding back investment in property as there is an advantage in currency rates in favour of Australia compared to other major countries. 
The Chinese also lack appealing alternative investments at home.
Interestingly, the Federal Government's crackdown on residential properties held by foreigners in breach of the foreign investment rules uncovered just 131 now-sold illegally held properties in 2017-2018.
No nationalities were advised in the figure which was up slightly from the 96 ordered forced sales in 2016-17.
There were other breaches that did not see any forced divestment.
More than half the breaches identified were residential property in Victoria, while 20% related to property in New South Wales after the Australian Taxation Office (ATO) completed around 1,400 residential real estate investigations during the year.
ATO data matching analysis is increasingly important in compliance investigations. 
Data matching made up 63% of the 1,700 cases investigated in 2017–18.
Although information received from the community is a source of intelligence, only a small proportion actually involved a breach of the Act.
The report noted that in most cases the owners of the properties reported by community members were found to be Australian citizens or permanent residents.
That suggests we might a little too quick to judge our new neighbours.
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Australians are too suspicious of the nationality of our new neighbours

Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

Jonathan Chancellor

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