lschlesinger-FZcF9M3vE6

Regional Victorian towns dominate list of mainland hotspots under $300,000, but Melbourne off the menu

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February retail sales figures have brought some cheer for retail landlords in Queensland and Western Australia, but not much for those with investments in other states and territories.
According to Macquarie senior economist Brian Redican, the latest ABS figures highlight the widening gap between the performance of resource-rich Queensland and Western Australia and those states not benefiting from the mining boom.
Redican expects the RBA to cut rates next month in what could be the first of three quick cuts to restore confidence in the economy.
He says the monetary policy statement which accompanied the April decision suggested a considerable shift in the central bank's view on the economy over the month.
Prior to April, Redican says the RBA has been suggesting that "any weakness in demand was temporary and so didn't need a policy response".
"That no longer seems to be the view," he says.
Westpac chief economist Bill Evans expects the RBA to cut the cash rate twice by July taking it down to 3.75%.
Nationally, retail sales crept up by just 0.2% over the month on a seasonally adjusted basis, with Queensland the top-performing state, recording a 1.5% increase in sales turnover following a 1.9% gain in January.
Western Australia was second best performer, managing retail sales growth of 1% following a 1.1% gain in January.
The only other state to record an increase was South Australia (0.7% following a fall of 0.4% in January), with the Northern Territory registering no growth following a 3.4% gain in January.
Turnover fell by 0.6% in New South Wales and by 0.4% in Victoria in February, matching similar falls in January, while the ACT declined by 0.7% and Tasmania fell by 0.1%.
"What is interesting is the regional composition there, where it does look like you're getting exacerbating weakness in NSW and Victoria, while Queensland and Western Australia seem to be holding up pretty well," Redican told AAP.
"That divergence is getting wider rather than narrowing but overall is looking fairly sluggish."
Redican says retail sales may rebound in mid-2012 when households get their carbon tax compensation payments, which could be in the range of $300 to $600.
Redican says there will be a strong temptation among households to spend this money.
"That's probably the greatest hope in the near term,” he says.
Across retailing sectors, the largest contributor to the February rise was other retailing (including newspapers, books, stationery and pharmaceutical products) which increased by 1.8%, followed by food retailing (supermarkets and grocery stores) 0.3% and department stores 0.7%.
Turnover fell in clothing, footwear and personal accessory retailing (-1.4%), cafes, restaurants and takeaway food services (-0.7%), and household goods retailing (-0.5%).
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Retail sales figures show divide widening between mining states and rest of country: Brian Redican

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The Ray White real estate group is on track to surpass its March 2011 sales figures, which group chairman Brian White describes as a “positive sign for the broader market”. 
Preliminary figures compiled across more than 700 Ray White real estate offices, including offices in Australia, New Zealand and Indonesia, show that the real estate group sold $2.44 billion worth of residential and commercial property during March 2012 compared with $2.43 billion achieved in March 2011. 
White says the March results are viewed by the group as the “key monthly indicator for the entire year”. 
"Rarely will our figures come close to March until well into spring. So the group’s incomplete sales results of $2.4 billion gives confidence that the Australian market is assuming a new resilience,” he says. 
The March 2012 figure was also significantly up on the $2.06 billion sales turnover recorded in February 2012 and the $1.52 billion recorded in the traditionally quiet January period. 
"Ray White Group’s March figures were a pleasant surprise, suggesting that the Reserve Bank of Australia's decision to keep rates on hold was not imprudent," says White.
 
 
 
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Brian White labels housing market resilient as Ray White’s Australiasian March sales figures pass $2.4 billion

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Economists remain confident that the Reserve Bank will cut interest rates next month (May 1) after leaving the cash rate unchanged at 4.25% yesterday as expected.
While all 24 economists polled by Bloomberg ahead of the announcement correctly called the April hold decision, it was slammed by industry bodies representing struggling sectors of the economy.
The Housing Industry Association (HIA) has called the decision “the wrong call,” pointing out that there is “very little driving the economy” outside of the mining sector, while the Master Builders Association (MBA) says it was “disappointed rates were not cut given the current poor conditions in the building industry”.
Most upset was the Australian Retailers Association (ARA), which says retailers had been king hit by the decision, coming just a few hours after ABS figures showed that retailing recorded virtually no growth over February and in fact went backwards in non-mining states.
“As retailers attempt to innovate and adapt to a changing retail environment, compete effectively and maintain hours and employment levels, the RBA has dealt the sector a king hit and shown little regard for working Australians or small businesses as they struggle to take home a living,” says ARA executive director Russell Zimmerman.
While economists were more measured in their responses, the underlying tone of their reaction suggested the RBA could have moved earlier and cut rates yesterday.
Former Gillard government economic adviser Stephen Koukoulas analysed the RBA statement by Glenn Stevens accompanying the <a target="_blank" href="https://stephenkoukoulas.blogspot.com.au/2012/04/rba-statement-in-blue-and-red">decision and says it containsmore weak news than strong news</a>.
Koukoulas says it is “anyone’s guess” why the RBA had not cut rates.
CommSec chief economists Craig James says the case for a rate cut is “certainly compelling – especially given the sluggishness in retail activity, higher Aussie dollar, and slump in home construction”.
“In addition the monthly inflation data has consistently confirmed that inflation is subdued. But in the end, the Reserve Bank decided to keep its powder dry,” he says.
Economists appear to be in agreement that the March quarter inflation data to be released on April 24 will be the key number guiding the RBA’s next move.
Craig James calls the inflation number “the deciding factor”.
“The key phrase of the statement was: ‘The board's view was also that, were demand conditions to weaken materially, the inflation outlook would provide scope for easier monetary policy’.”
“In fact if the inflation data released on April 24 comes in at or below 0.7% for the March quarter, it should provide the Reserve Bank with additional degree of comfort and allow policy makers to cut interest rates by 25 basis points in May,” James says. 
Commonwealth Bank chief economist Michael Blythe calls yesterday’s decision a “prelude to a rate cut”, acknowledging that expectations of a rate cut had risen prior to the meeting.
“Speculation built over the past week that the RBA might deliver a rate cut at today’s meeting,” he says.
Blythe says there was a “broad hint that a rate cut will be on the table for discussion in May”.
“The pace of activity is a little weaker than expected but due diligence requires waiting for the first quarter CPI [due April 24] before considering a further step to ease monetary policy”.
“We are happy to hold with our May rate cut call as a result,” he says.
Aside from the inflation figure on April 24, the RBA will also have the benefit of other useful data at its disposable.
Housing Finance figures for February are out on April 11 and will show if mortgage demand has picked after the traditionally quiet January period.
On April 18 building activity figures December will be released for the December quarter and will show if the downturn in the September quarter for both residential and non-residential construction was sustained in the final three months of 2011.
The March quarter capital city house price index data will be released May 1, just a few hours before the May board meeting, giving the RBA a clearer sense of just how soft the housing market is and offer clues as to its future direction.
 
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Builders and retailers slam rates hold decision as RBA awaits first-quarter inflation data 

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John Symond’s Aussie Home Loans has acquired wholesale mortgage aggregator National Mortgage Brokers (nMB) and is looking to make further acquisitions to grow its distribution reach. 
“We are on an expansion trail and see nMB as a strategic acquisition in building our distribution capability, which is no longer just focused on our established branded mobile and retail channels,” says Symond. 
“Our move into wholesale broking will complement our branded business, which we will continue to expand. With nMB, we will accelerate the rapid growth of a high-quality business-to-business channel. 
“This will be an extension to our existing business-to-consumer model under the Aussie brand and does not affect our existing operations,” he adds. 
"Our strategy is to grow the nMB business by acquiring other aggregators and putting them into the NMB business. We'll grow nMB in conjunction with growing our other separate distribution channels such as our retail stores and our mobile broker team," he told Brokernews.com.au. 
Established in 2001 and based in Melbourne, nMB has nearly 200 mortgage brokers throughout Australia, settles about $200 million in mortgages each month with a loan book of more than $8.2 billion. 
Gerald Foley, managing director of nMB, told Property Observer it would be “business as usual” for nMB brokers, with the only change being a “change in shareholding”.
 
“Aussie has a very strong retail lending business, and we are a strong wholesale business. An approach was made, and it all made good sense,” Foley says.
NMB will continue to operate as a separate entity under its own brand and will continue to be managed by its current executive team, led by Foley. 
“We are delighted to be joining Aussie’s great operation and look forward to growing our business with its support. Aussie has the mortgage broking industry’s leading business model and operating standards, as well as being a very strong and trusted player in the market,” says Foley.
Aussie currently has a loan book of over $42 billion with more than 250,000 mortgage customers, 700 accredited mortgage brokers and 150 retail stores. 
The acquisition of nMB will increase the Aussie group’s loan book to over $50 billion, settling approximately $1.2 billion in new mortgages each month and on target for 1,000 accredited mortgage brokers within the group this calendar year.
 
 
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John Symond’s Aussie Home Loans buys National Mortgage Brokers 

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Shopping centre giant Westfield, one of Australia’s biggest retail landlords, reported a strong 2011 to December 31, with profits of $1.5 billion despite the challenges facing the retail sector.
In its 2011 annual report, Westfield says its Australian portfolio remained resilient and at almost full occupancy “reflecting the ongoing demand for high-quality retail space”.
Westfield operates 43 malls throughout Australia, with Airport West in Melbourne recording the strongest increase in sales of 7% over the year, followed by Belconnen in the ACT, with a 5.5% gain.
There were 18 stores that recorded a decline in sales over the year, the biggest being a 10.3% drop in Kotara, Newcastle followed by an 8% declined in Pacific Fair on the Gold Coast.
Westfield Bondi Junction in Sydney’s eastern suburbs, which managed over $1 billion in sales in 2010, declined by 3.9% to $973 million in 2011.
Here’s a breakdown of how Westfield’s centres performed, starting from Bondi Junction and ending with North Rocks in Sydney’s west ($144 million):
(Annual sales figures for Westfield Sydney are not yet available – the shopping centre has 257 retailers and 78,000 square metres of lettable area).
$973 million
The total annual sales at Bondi Junction, NSW, which declined 3.9% over 2011. The shopping centre has 522 retailers and 129,000 square metres of lettable area.
$890 million
The total annual sales at Chermside, Queensland, which increased 2.1% over 2011. The shopping centre has 415 retailers and 146,000 square metres of lettable area.
$812 million
The total annual sales at Doncaster, Victoria, which increased 3.4% over 2011. The shopping centre has 437 retailers and 121,000 square metres of lettable area.
$779 million
The total annual sales at Southland, Victoria, which increased 0.3% over 2011. The shopping centre has 416 retailers and 130,000 square metres of lettable area.
$773 million
The total annual sales at Marion, SA, which increased 1% over 2011. The shopping centre has 331 retailers and 133,000 square metres of lettable area.
$713 million
The total annual sales at Parramatta, NSW, which declined 2% over 2011. The shopping centre has 498 retailers and 137,000 square metres of lettable area.
$711 million
The total annual sales at Warringah Mall, NSW, which declined 2.7% over 2011. The shopping centre has 327 retailers and 125,000 square metres of lettable area.
$707 million
The total annual sales at Knox, Victoria, which declined 3.9% over 2011. The shopping centre has 410 retailers and 143,000 square metres of lettable area.
$703 million
The total annual sales at Marinda, NSW, which declined 2.7% over 2011. The shopping centre has 393 retailers and 108,000 square metres of lettable area.
$661 million
The total annual sales at Carindale, Queensland, which declined 0.6% over 2011. The shopping centre has 284 retailers and 106,000 square metres of lettable area.
$654 million
The total annual sales at Fountain Gate, Victoria, which declined 2.3% over 2011. The shopping centre has 285 retailers and 127,000 square metres of lettable area.
$612 million
The total annual sales at Hornsby, NSW, which increased 0.7% over 2011. The shopping centre has 333 retailers and 100,000 square metres of lettable area.
$583 million
The total annual sales at Penrith, NSW, which increased 1% over 2011. The shopping centre has 343 retailers and 92,000 square metres of lettable area.
$577 million
The total annual sales at Booragoon, WA, which increased 1.3% over 2011. The shopping centre has 272 retailers and 72,000 square metres of lettable area.
$563 million
The total annual sales at Mt Gravatt, Queensland, which declined 0.2% over 2011. The shopping centre has 313 retailers and 99,000 square metres of lettable area.
$541 million
The total annual sales at Carousel, WA, which increased 1.4% over 2011. The shopping centre has 294 retailers and 83,000 square metres of lettable area.
$507 million
The total annual sales at Macquarie, NSW, which declined 3.9% over 2011. The shopping centre has 278 retailers and 98,000 square metres of lettable area.
$504 million
The total annual sales at Chatswood, NSW, which declined 2.4% over 2011. The shopping centre has 290 retailers and 77,000 square metres of lettable area.
$478 million
The total annual sales at Belconnen, ACT, which increased 5.5% over 2011. The shopping centre has 282 retailers and 95,000 square metres of lettable area.
$473 million
The total annual sales at Tea Tree Plaza, SA, which increased 1% over 2011. The shopping centre has 257 retailers and 94,000 square metres of lettable area.
$471 million
The total annual sales at Pacific Fair, Queensland, which declined 8% over 2011. The shopping centre has 308 retailers and 104,000 square metres of lettable area.
$469 million
The total annual sales at Tuggerah, NSW, which increased 0.4% over 2011. The shopping centre has 270 retailers and 83,000 square metres of lettable area.
$456 million
The total annual sales at Liverpool, NSW, which increased 0.9% over 2011. The shopping centre has 337 retailers and 84,000 square metres of lettable area.
$455 million
The total annual sales at Kotara, NSW, which declined 10.3% over 2011. The shopping centre has 269 retailers and 69,000 square metres of lettable area.
$440 million
The total annual sales at Whitford City, WA, which declined 1.1% over 2011. The shopping centre has 305 retailers and 78,000 square metres of lettable area.
$419 million
The total annual sales at Karrinyup, WA, which declined 2.1% over 2011. The shopping centre has 219 retailers and 60,000 square metres of lettable area.
$419 million
The total annual sales at Woden, ACT, which declined 1.2% over 2011. The mall has 262 retailers and 72,000 square metres of lettable area.
$405 million
The total annual sales at Burwood, NSW, which increased 10.3% over 2011. The mall has 251 retailers and 64,000 square metres of lettable area.
$398 million
The total annual sales at Hurstville, NSW, which declined 0.4% over 2011. The mall has 261 retailers and 63,000 square metres of lettable area.
$379 million
The total annual sales at Mt Druitt, NSW, which increased 2.5% over 2011. The mall has 243 retailers and 59,000 square metres of lettable area.
$375 million
The total annual sales at Westlakes, SA, which declined 1% over 2011. The mall has 214 retailers and 61,000 square metres of lettable area.
$366 million
The total annual sales at North Lakes, Queensland, which increased 3.8% over 2011. The mall has 217 retailers and 61,000 square metres of lettable area.
$358 million
The total annual sales at Sydney Central Plaza, which decreased 8.3% over 2011. The mall has 95 retailers and 54,000 square metres of lettable area.
$331 million
The total annual sales at Helensvale, Queensland, which increased 2.6% over 2011. The mall has 187 retailers and 45,000 square metres of lettable area.
$294 million
The total annual sales at Plenty Valley, Victoria, which increased 4.4% over 2011. The mall has 180 retailers and 54,000 square metres of lettable area.
$278 million
The total annual sales at Innaloo, WA, which increased 1.2% over 2011. The mall has 171 retailers and 47,000 square metres of lettable area.
 
$277 million
The total annual sales at Geelong, Victoria, which increased 5.2% over 2011. The mall has 188 retailers and 52,000 square metres of lettable area.
$276 million
The total annual sales at Airport West, Victoria, which increased 7% over 2011. The mall has 180 retailers and 53,000 square metres of lettable area
$265 million
The total annual sales at Strathpine, Queensland, which increased 1.1% over 2011. The mall has 162 retailers and 45,000 square metres of lettable area
$224 million
The total annual sales at Warrawong, NSW, which increased 0.7% over 2011. The mall has 143 retailers and 58,000 square metres of lettable area
$171 million
The total annual sales at Figtree, NSW, which increased 1.1% over 2011. The mall has 94 retailers and 22,000 square metres of lettable area
$144 million
The total annual sales at North Rocks, NSW, which increased 0.7% over 2011. The mall has 92 retailers and 23,000 square metres of lettable area
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From Westfield Bondi Junction to North Rocks: where shoppers are spending (or not) their money in Westfield’s vast retail portfolio

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Vendors in Sunbury, about 40 kilometres north west of the Melbourne CBD and most famous as the birthplace of The Ashes, sold on average 1.6 houses every day last year, making it Australia’s most heavily traded hotspot.
In total there were 604 sales in Sunbury in 2011, making it one of just eight locations out of Smart Investor magazine’s 601 hotspots that managed an average of at least one sale a day over the course of 2011.
The hotspot list is based on those suburbs where dwelling prices appreciated the greatest over the 12 months to December 2011.
Sunbury house prices grew by 5.3% over 2011, but are forecast to grow by only 2% over 2012.
Second on the list is Tennant Creek in the Northern Territory, nearly 1,000 kilometres from Darwin, which had 491 sales last year and is a centre of both mining exploration and cattle grazing, while another mining and agricultural town, Emerald, in the Queensland central highlands, recorded 375 sales during 2011.
The eight locations also include the outer-Melbourne suburb of Tarneit, which recorded 424 sales over 2011.
Both Sunbury and Tarneit are part of the Baillieu government’s $200 billion growth corridor plan, which aims to house 1 million people over the next 20 years in north, west and south-east Melbourne suburbs <a href="https://www.propertyobserver.com.au/victoria/a-new-adelaide-on-melbourne-s-outskirts-baillieu-government-s-growth-corridor-plans/2011110952270" target="_blank">and create a regional centre the size of Adelaide</a>.
Sunbury forms part of the City of Hume, which the Victorian government expects will “continue to play a key role in contributing to the national economy and Australia's global position, with an expectation that employment will grow to between 90,000 and 95,000 jobs”.
Tarneit is in the city of Wyndham, the fastest-growing region in Melbourne and a hotspot for residential developments with 23 active projects comprising 24,000 homes underway with Australand, Dennis Family Corporation, Multiplex, Stockland, Peet and Villawood among those involved. Tarneit’s population is forecast to grow by at least 161,000 people by 2031.
Sunbury and Tarneit are among those suburbs that will benefit from an investment program, which includes the building of new train infrastructure, major roads, revamping town centres, building 350,000 new homes and the creating jobs for 400,000 people as well as building new parks and environmental reserves.
According to legend, following a game of cricket between the English cricket team and a local side, Sir William Clarke and Lady Clarke were presented with an urn containing the ashes of a bail used during the game in their grand Sunbury mansion of Rupertswood (now the home of Salesian College).
 
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="78">
 
</td>
<td valign="top" width="56">
State
</td>
<td valign="top" width="54">
Number sold in 2011
</td>
<td valign="top" width="54">
Sales per day
</td>
<td valign="top" width="77">
Median price
</td>
<td valign="top" width="69">
Year on year change
</td>
<td valign="top" width="73">
12 month forecast
</td>
<td valign="top" width="71">
Median rent
</td>
<td valign="top" width="65">
Gross rental yield
</td>
</tr>
<tr>
<td valign="top" width="78">
Sunbury houses
</td>
<td valign="top" width="56">
Vic
</td>
<td valign="top" width="54">
604
</td>
<td valign="top" width="54">
1.65
</td>
<td valign="top" width="77">
$356,000
</td>
<td valign="top" width="69">
5.3%
</td>
<td valign="top" width="73">
2%
</td>
<td valign="top" width="71">
$318
</td>
<td valign="top" width="65">
4.7%
</td>
</tr>
<tr>
<td valign="top" width="78">
Tennant Creek houses
</td>
<td valign="top" width="56">
NT
</td>
<td valign="top" width="54">
491
</td>
<td valign="top" width="54">
1.35
</td>
<td valign="top" width="77">
$230,000
</td>
<td valign="top" width="69">
24.3%
</td>
<td valign="top" width="73">
1%
</td>
<td valign="top" width="71">
Snr
</td>
<td valign="top" width="65">
Snr
</td>
</tr>
<tr>
<td valign="top" width="78">
Canning Vale houses
</td>
<td valign="top" width="56">
WA
</td>
<td valign="top" width="54">
490
</td>
<td valign="top" width="54">
1.35
</td>
<td valign="top" width="77">
$525,000
</td>
<td valign="top" width="69">
-1.9%
</td>
<td valign="top" width="73">
5+%
</td>
<td valign="top" width="71">
$450
</td>
<td valign="top" width="65">
4.7%
</td>
</tr>
<tr>
<td valign="top" width="78">
Goulburn houses
</td>
<td valign="top" width="56">
NSW
</td>
<td valign="top" width="54">
456
</td>
<td valign="top" width="54">
1.25
</td>
<td valign="top" width="77">
$269,500
</td>
<td valign="top" width="69">
7.8%
</td>
<td valign="top" width="73">
3%
</td>
<td valign="top" width="71">
$270
</td>
<td valign="top" width="65">
5.8%
</td>
</tr>
<tr>
<td valign="top" width="78">
Traralgon houses
</td>
<td valign="top" width="56">
Vic
</td>
<td valign="top" width="54">
453
</td>
<td valign="top" width="54">
1.24
</td>
<td valign="top" width="77">
$265,000
</td>
<td valign="top" width="69">
4.7%
</td>
<td valign="top" width="73">
2%
</td>
<td valign="top" width="71">
$280
</td>
<td valign="top" width="65">
5.5%
</td>
</tr>
<tr>
<td valign="top" width="78">
Brisbane units
</td>
<td valign="top" width="56">
Qld
</td>
<td valign="top" width="54">
439
</td>
<td valign="top" width="54">
1.2
</td>
<td valign="top" width="77">
$430,000
</td>
<td valign="top" width="69">
0%
</td>
<td valign="top" width="73">
3%
</td>
<td valign="top" width="71">
$560
</td>
<td valign="top" width="65">
6.5%
</td>
</tr>
<tr>
<td valign="top" width="78">
Tarneit houses
</td>
<td valign="top" width="56">
Vic
</td>
<td valign="top" width="54">
424
</td>
<td valign="top" width="54">
1.16
</td>
<td valign="top" width="77">
$370,000
</td>
<td valign="top" width="69">
4.2%
</td>
<td valign="top" width="73">
0%
</td>
<td valign="top" width="71">
$300
</td>
<td valign="top" width="65">
4.2%
</td>
</tr>
<tr>
<td valign="top" width="78">
Emerald houses
</td>
<td valign="top" width="56">
Qld
</td>
<td valign="top" width="54">
375
</td>
<td valign="top" width="54">
1.03
</td>
<td valign="top" width="77">
$412,250
</td>
<td valign="top" width="69">
8.5%
</td>
<td valign="top" width="73">
5+%
</td>
<td valign="top" width="71">
$550
</td>
<td valign="top" width="65">
7.6%
</td>
</tr>
</tbody></table>
Source: Smart Investor
Photograph by Elizabeth Donoghue, courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>.
 
 
 
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Sunbury tops list of most traded hotspots, with more than one house sold a day

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John McGrath says RP Data figures showing suburbs with median dwelling prices under $300,000 confirm that Gen Yers can buy an investment property in a cheaper suburb and rent in a more desirable lifestyle location.
McGrath, CEO of McGrath Estate Agents, was one of the first market commentators to notice that more first-home owners are entering the market as investors and believes that renting while investing is entirely doable if a buyer is on a good income.
“For enterprising Gen Yers who don’t want to give up their lifestyle in trendy inner-city suburbs, many are buying investment properties in cheaper areas so they can get a foothold in the market without compromising on where they live – a clever tactic,” says McGrath, CEO of McGrath Estate Agents, in a blog post on www.switzer.com.au.
“At the end of the day, the key to buying on a budget is knowing where to look.
“Here are the top five suburbs in every capital city and regional areas where the highest number of sales under $300,000 were recorded between January and today.  Note that all these suburbs recorded both apartment and house sales under $300,000.”
Sydney
Liverpool, Blacktown, Mount Druitt, Penrith, Lakemba
NSW
Dubbo, Orange, Goulburn, Port Macquarie, Taree
Melbourne
Werribee, Pakenham, Frankston, Melton South, Hoppers Crossing (You can buy apartments under $300,000 in Melbourne city (300+ sales since Jan 2011) but not houses)
Victoria
Mildura, Shepparton, Traralgon, Horsham, Sebastopol
Brisbane
Caboolture, Deception Bay, Woodridge, Redbank Plains, Eagleby
Queensland
Maryborough, Newtown, Warwick, Harristown, Gympie
Perth
Armadale, Rockingham, Gosnells, Maylands, Mandurah
WA
Collie, Boulder, Northam, South Kalgoorlie, Katanning
Adelaide
Morphett Vale, Paralowie, Salisbury North, Parafield Gardens, Salisbury East
SA
Mount Gambier, Murray Bridge, Port Lincoln, Whyalla Stuart, Whyalla Norrie
Hobart
Glenorchy, Claremont, Kingston, Moonah, Brighton
TAS
Devonport, Ulverstone, South Launceston, Newnham, New Norfolk
Darwin
Bellamack, Johnston (no apartment sales), Farrar, Rosebery, Nightcliff
Canberra
Casey (no apartment sales), Crace (no apartment sales), Forde, Bonner (no apartment sales), Macgregor
 
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Gen Yers who continue to rent have many property investment options under $300,000: John McGrath

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While disappointing, today’s decision by the Reserve Bank to leave the cash rate unchanged at 4.25% does not mean borrowers should be complacent about their current mortgage providers, say Mortgage Choice and RateCity.com.au. 
Both are urging borrowers to examine their current home loans to ensure they’re getting the best deal.
 
“I’m sure borrowers and consumers alike were hoping for a cut by the Reserve Bank to the cash rate ahead of the Easter long weekend,” says Mortgage Choice spokesperson Belinda Williamson. 
“However, the bank has made it fairly clear that they need our domestic data, most of which will be updated this month, to decline further before they feel compelled to move rates. “Nevertheless, today’s decision to keep the cash rate on hold at 4.25% is no cause for complacency among home loan borrowers. “Borrowers who allow their home loan to lay idle and assume their lender is doing everything they can to help them reach their home ownership goal may be surprised at what they could be missing out on,” she says. “Without comparing their lender’s loan products to those offered by others, they may be passing up the opportunity to save thousands of dollars in interest and shave months, or even years off their home loan term. “Now is a good time for borrowers to investigate how their lender rates against others in the market in terms of product pricing, service quality, accessibility, and the flexibility to accommodate your changing needs or circumstances,” she says.
 
RateCity CEO Damian Smith says borrowers don’t have to accept higher mortgage costs. 
“We’ve found 14 lenders that lifted their variable rates by as much as 15 basis points last month, which is worth an extra $30 per month for a $300,000 mortgage (based on a rate of 7% compared to 7.15% over 25 years),” Smith says. 
“This follows 44 lenders lifting rates in February – despite neither month seeing any change in the official cash rate."
“Rates will continue to be volatile, with frequent small movements from lenders most months this year. 
“But that doesn’t mean borrowers should accept higher rates. The slow mortgage market – where there were 200,000 less mortgages written last year compared to five years ago – means the ball’s in the borrower’s court. 
“Borrowers should compare what their lender is charging by using credible financial comparison websites like RateCity and demand a discount if it’s higher than what other lenders are offering. If they can’t beat it, then make the switch.” 
According to Smith, most lenders, particularly major banks NAB, Commonwealth Bank and Westpac, are likely to wait for ANZ’s announcement of any rate movements from its Rate Review meeting on April 13 before they decide to move their rates. 
“ANZ Bank has become the de facto price setter for the mortgage industry as we believe that most lenders will wait until after ANZ reviews rates on Friday, April 13 before deciding whether to move their own rates. 
“What this means is that we now need to know both the RBA’s decision and the ANZ’s decision before seeing what the rest of the market will do,” he says.
 
 
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Rate hold decision no cause for borrower complacency: Mortgage Choice and RateCity

<html><body>
The Reserve Bank has left interest rates unchanged today at 4.25% following its April monetary policy meeting noting that while credit growth remains modest, "housing prices have shown some signs of stabilising recently, after having declined for most of 2011, but generally the housing market remains soft."
This marks the third consecutive monetary policy meeting that the RBA has left the cash rate unchanged.
The decision will particularly disappoint the weaker sectors of the economy, including residential builders, retailers and manufacturers.
The RBA announcement followed this morning’s release of underwhelming retail sales figures from the ABS, which showed a 0.2% rise in February after a 0.3% gain in January and a flat December. The February figures were in line with expectations.
It also followed weak building approval figures issued yesterday.
Borrowers must now wait and see if lenders will adjust rates independently of the RBA move.
ANZ borrowers will have to wait until Friday April 13 to find whether the bank will adjust its variable mortgage rates.
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RBA leaves rates on hold as soft house prices stabilise

The Gold Coast economy has grown by 25 per cent since 2020/21 to surpass $55 billion, but perhaps the more significant story is what sits behind the headline number.

For decades, the Gold Coast has been viewed through the lens of tourism, lifestyle and population growth. The latest State of the City Report suggests that perception is increasingly out of step with reality.

Released by Invest Gold Coast, the report ranks the Gold Coast as Australia's largest non-capital city economy and, perhaps more notably, second nationally behind Sydney for Economic Complexity, a measure that assesses the diversity and sophistication of an economy.

It's a result that places the Gold Coast ahead of Melbourne, Brisbane, Perth and Adelaide, highlighting the extent to which the city's economic base has broadened beyond its traditional industries.

Today, the Gold Coast supports more than 350,000 jobs, is home to over 83,000 businesses and generates $19 billion in annual exports. Manufacturing now accounts for 62 per cent of international export growth, while sectors including health, education, advanced manufacturing, technology and professional services are becoming increasingly important contributors to the local economy.

[smartcode_project:default project_id=150017 project_image_fid=372547]

Gold Coast Mayor Tom Tate said the report confirmed the city's evolution into one of Australia's most significant economies.

"The Gold Coast economy continues to grow at an incredible pace. This is no surprise to those of us who have watched the evolution up close," Mayor Tate said.

"As one of the most entrepreneurial, investment driven and opportunity focused economies in the country our ambition has been realised and possibilities are endless.

"The Gold Coast has built a reputation as the city that says yes. We say yes to investment, yes to opportunity and yes to people who want to build something.

"It's this mindset helping us drive major growth across health, advanced manufacturing, screen production, marine, technology and the knowledge economy."

[smartcode_project:default project_id=149670 project_image_fid=360975]

While population growth has been one of the defining stories of the past decade, the report points to a broader economic transformation taking place.

The city's knowledge economy now contributes $7.9 billion annually and supports around 31,000 jobs, while the health and wellbeing sector contributes $5.2 billion and employs more than 42,000 people. Together, the six priority sectors identified in the report account for almost $24 billion in economic output and more than 145,000 jobs.

One of the strongest examples is the Gold Coast Health and Knowledge Precinct at Southport. The 200-hectare precinct now contains more than $5 billion worth of health, education, research and innovation infrastructure and supports over 16,000 jobs.

The report also highlights the growing role of advanced manufacturing, particularly in aerospace, defence and modular construction.

Gold Coast-based Gilmour Space Technologies recently became the first Australian commercial company to attempt an orbital launch, while companies including Modscape and ModnPods are helping establish the Yatala-Stapylton corridor as one of Australia's fastest-growing advanced manufacturing hubs.

The city's entrepreneurial culture is also translating into business growth.

Since 2019/20, the number of businesses operating on the Gold Coast has increased by 22 per cent, while firms employing more than 200 people have grown by 80 per cent. The report suggests the next challenge is converting more local start-ups and medium-sized businesses into nationally significant companies.

Development activity remains another key indicator of confidence.

There are currently more than $23 billion worth of major projects underway across the Gold Coast, supported by a record 75 active cranes, a figure that now exceeds Brisbane and represents a 150 per cent increase since 2016.

[smartcode_project:default project_id=112024 project_image_fid=343235]

Importantly, the report notes the next phase of investment will need to extend beyond residential development.

While 93 per cent of crane activity is currently tied to housing, Invest Gold Coast argues future investment will increasingly need to focus on cultural, civic, infrastructure and industry-enabling projects that strengthen the city's long-term economic resilience.

Invest Gold Coast Chair Will Hodgman said the city was now benefiting from years of economic diversification.

"What is happening on the Gold Coast is the result of the city's economic base broadening, fuelled by industries with long-term, high-growth potential," Mr Hodgman said.

"This is no longer a secondary Australian economy, the Gold Coast is becoming a globally connected city with deeper capability across health, knowledge and creative industries, advanced manufacturing, technology and exports."

[smartcode_project:default project_id=108274 project_image_fid=365786]

Looking ahead, the Gold Coast's population is projected to exceed one million residents by 2046.

For a city that was once largely defined by tourism and lifestyle, the latest figures suggest the Gold Coast is becoming something more significant, one of Australia's most diverse and economically sophisticated urban economies, and increasingly one that national and international investors can no longer afford to overlook.

Joel Robinson

75 cranes, $23 billion pipeline and a $55 billion economy: Inside the Gold Coast economic boom

Ron Bakir's Homecorp has sold more than 75 per cent of the apartments in its wellness-driven Florence Residences in Surfers Paradise following its first weekend release.

The <a href="https://www.apartments.com.au/new-apartments/florence-residences-24-monte-carlo-avenue-surfers-paradise-qld-4217">26-storey project on Monte Carlo Avenue</a>, which commenced construction earlier this year, has seen a flurry of buyers secure their slice of the Gold Coast's latest wellbeing-focused offering in one of the nation's most competitive property markets.

Since the pandemic, the Gold Coast's population has grown by more than 11 per cent, a rate approximately four times faster than Sydney's, driven largely by lifestyle changes and interstate migration. While buyer activity has moderated in some markets nationally, demand for newly built dwellings on the Gold Coast continues to gain momentum as purchasers increasingly prioritise lifestyle, amenity, wellbeing, liveability and long-term investment potential.

&nbsp;

[smartcode_project:default project_id=150414 project_image_fid=372743]

Homecorp CEO Ron Bakir says buyers today are looking for more than just a home.

"What we are seeing is a shift in how people define value in property," Bakir says.

"What attracts residents to new developments is a desire for more than just a residence. They are looking for a place that complements their lifestyle, supports their wellbeing and reflects the way they want to live into the future.

"Lifestyle, longevity, proactive health, wellbeing, connection and a sense of community are increasingly shaping purchasing decisions, particularly on the Gold Coast, where these factors continue to be a major drawcard."

[smartcode_project:default project_id=150414 project_image_fid=372744]

Bakir says Homecorp is responding to this shift through an approach that places greater emphasis on design, amenity and experience working together to create places that feel considered, connected and enduring in value.

Inspired by Eastern European design, Florence Residences will comprise 120 apartments alongside a private residents-only wellness club featuring a resort-style rooftop pool, hot and cold plunge pools, a spa retreat, contemporary gymnasium, and a spacious yoga and Pilates studio.

The development will also feature a residents-only lounge with private dining facilities and a rooftop bar, premium outdoor entertaining areas, a hotel-style lobby lounge, generous bike parking, and pet-friendly amenities including a heated dog wash.

[smartcode_project:default project_id=150414 project_image_fid=372742]

A limited number of apartments remain available, with an exclusive collection of four-bedroom sub-penthouses set to be released in the coming months.

Florence is one of the latest additions to Homecorp's expanding multi-billion-dollar property portfolio, which also includes plans for a <a href="https://www.apartments.com.au/news/qld/homecorp-lodges-plans-for-260-million-moroccan-bathhouse-inspired-tower-in-budds-beach">$260 million development in Budds Beach</a> tailored to the growing wellness market.

A development application has been lodged for a 27-storey, 156-residence tower at 8–10 Acacia Avenue and 25–27 Oak Avenue, featuring a residents-only Moroccan spa-inspired sanctuary.

Apartments at Florence Residences are priced from $1,249,000, with construction expected to be completed by late 2027.

[smartcode_project_cta:default project_id=150414]

Buyers rush to Homecorp's Florence Residences as Gold Coast wellness trend gains momentum

The NSW Government has expanded its $1 billion Pre-sale Finance Guarantee program, broadening access for affordable housing providers and smaller residential developments as it seeks to accelerate housing delivery across the state.

The Minns Government says the program has already helped bring forward more than 600 homes across Sydney and regional NSW since launching in September 2025, with similar models now adopted in South Australia and Western Australia.

The latest changes, announced by Treasurer Daniel Mookhey and Minister for Planning and Public Spaces Paul Scully, are designed to improve access to finance for projects that have planning approval but are struggling to secure funding.

Among the key changes is an expansion of support for community housing providers. The program will now support up to 100 per cent affordable housing projects valued at up to $30 million when delivered by not-for-profit providers, while support for larger affordable housing developments will increase for projects worth up to $80 million.

The government says the changes will help accelerate the delivery of housing for low-income workers, older people, people living with disability, and those at risk of homelessness, while reducing reliance on direct grants or subsidised loans to bridge funding gaps.

The eligibility criteria for smaller residential developments have also been broadened. The previous $5 million minimum project value threshold has been removed and replaced with a requirement that projects deliver at least four homes.

Support has also increased for projects delivering fewer than 20 homes, with the guarantee now able to cover up to 75 per cent of dwellings in a development, capped at $30 million per project.

The changes are expected to particularly benefit smaller-scale and regional developments, which often face greater challenges meeting pre-sale requirements imposed by lenders.

Treasurer Daniel Mookhey said the scheme demonstrates how government can use its balance sheet to stimulate housing supply without relying solely on taxpayer-funded grants.

"The Pre-sale Finance Guarantee shows how this Government is using its balance sheet to reduce risk and unlock private investment, enabling new homes to move from design to construction faster," Mookhey said.

"This landmark reform allows us to deliver homes for working families at a lower cost to taxpayers, while also maintaining strong financial discipline."

Planning Minister Paul Scully said the program had already proven effective in bringing stalled projects to market.

"The Pre-sale Finance Guarantee has already proven it can unlock stalled projects and accelerate housing delivery by giving lenders the confidence they need to back good developments," Scully said.

"These changes will allow more affordable housing and smaller developments to access support so more homes can be built faster where communities need them most."

Housing Minister Rose Jackson said the expansion would help community housing providers overcome financing barriers that often delay projects.

"We know community housing providers are ready to build more homes, too often they're held back by barriers to finance," Jackson said.

"Expanding the Pre-sale Finance Guarantee helps remove those barriers so more affordable homes can get off the ground sooner."

The announcement was welcomed by the Property Council of Australia, which has long advocated for measures aimed at improving project feasibility and access to finance.

Property Council NSW Executive Director Katie Stevenson described the expansion as a practical intervention that addresses one of the most immediate constraints on housing delivery.

"This is exactly the kind of practical intervention we need right now, focused on getting projects out of the ground, not just approved," Stevenson said.

"It builds on a model the Property Council has worked closely with government to develop following calls for such a scheme ahead of last year's NSW Budget, so it's great to see it being expanded."

Stevenson said the reforms would help unlock projects that are ready to proceed but have been delayed by financing challenges. However, she noted that broader feasibility issues remain a significant barrier to increasing housing supply.

"The biggest challenge in NSW housing today is delivery. Too many projects have planning approval but are simply not financially viable to proceed under current settings," she said.

Speaking at the Property Council's NSW Housing Summit, Housing Minister Rose Jackson acknowledged that feasibility and financing pressures continue to constrain housing delivery, while reaffirming the government's commitment to work with industry on solutions.

Stevenson said the government's recognition of those challenges was encouraging ahead of next week's state budget.

"It's positive to see the government clearly recognising that feasibility pressures are now a binding constraint on supply," she said.

"With the Budget just days away, the focus must be on backing delivery, making sure projects stack up, finance can flow, and more homes can move from approval to construction."

The expanded Pre-sale Finance Guarantee forms part of the NSW Government's broader housing agenda, which also includes planning reforms, the NSW Housing Pattern Book, and a series of rezonings intended to increase housing capacity across the state.

NSW expands Pre-sale Finance Guarantee to unlock more affordable and regional housing

Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.

Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.

The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.

&nbsp;

[smartcode_project:default project_id=146717 project_image_fid=372212]

Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.

"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.

"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."

[smartcode_project:default project_id=146717 project_image_fid=372227]

Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.

A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.

The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.

Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.

[smartcode_project:default project_id=146717 project_image_fid=372225]

While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.

The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.

The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.

[smartcode_project:default project_id=146717 project_image_fid=372222]

The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.

Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.

"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.

The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.

The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.

Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.

"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.

"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."

Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.

[smartcode_project_cta:default project_id=146717]

Lowe Living launches Jardin House in Camberwell

As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.

Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.

At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.

[smartcode_project:default project_id=134323 project_image_fid=6395]

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.

Rothelowman says the site itself shaped much of the architectural response.

“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”

[smartcode_project:default project_id=134323 project_image_fid=6399]

Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.

The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.

Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.

“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”

[smartcode_project:default project_id=134323 project_image_fid=353235]

A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.

The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.

The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.

[smartcode_project:default project_id=134323 project_image_fid=6390]

“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”

At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.

ALAND has commenced construction, and is expecting a completion date in 2028.

[smartcode_project_cta:default project_id=134323]

Larry Schlesinger

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