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Former Mandurah real estate agent Ronald George Smith has lost his appeal against a $1,350 fine issued by the WA State Administrative Tribunal (SAT).
Smith, who operated the former business Exclusive Waterfront Properties Pty Ltd, was fined in May last year over breaches of the Real Estate and Business Agents Act and the Code of Conduct for Agents and Sales Representatives.
The SAT fined Smith for failing to properly supervise the business.
According to the WA Department of Commerce, the appeal was dismissed by the Supreme Court on March 16 “on the basis that it did not raise any question of law and would also have been dismissed on its merits”.
“The Court held that it was an absolute obligation of real estate agents to pay into a trust account all monies received on behalf of others regarding transactions,” the Department of Commerce said in a statement.
“The SAT heard that Mr Smith's former company had failed to deposit funds received from a vendor into its trust account, failed to supply all relevant information that would satisfy the vendor that expenses had been properly incurred and retained reimbursement for advertising expenses which was not agreed to in writing.”
The fine followed action taken by the former Real Estate and Business Agents Board (REBA) against Smith, whose business was involved in the marketing of three lots of land in Ravenswood in May 2008.
“The outcome of this case and the dismissal of the appeal clearly demonstrate that all real estate agents must, without exception, comply with the law in regard to the handling of clients' funds in the process of advertising and selling property,” says acting commissioner for consumer protection Gary Newcombe.
 
 
 
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lschlesinger-FZcF9M3vE6

Former WA real estate agent Ronald George Smith loses appeal against fine for failing to deposit trust monies 

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RBA governor Glenn Stevens has attempted to ease Asian investor concerns about high house prices and high levels of household debt in Australia while acknowledging the unevenness of the Australian economy and bank funding challenges created by the European crisis in an address in Hong Kong today.
Stevens acknowledged that “some observers worry about high levels of housing prices and household debt” during a speech at the Credit Suisse 15th Asian Investment Conference 2012.
“This is understandable given the problems that have occurred in some other countries.
“But then others point out that the arrears rate on mortgages, at 60 basis points, is quite low, and that the rate of new construction of dwellings in recent years has been low relative to population needs,” Stevens said.
Stevens said these same observers saw an economy that “experienced only a relatively mild downturn in 2008–2009, that made up the decline in output within a few months, and that has continued to expand, albeit at only moderate pace, since then”.
“They see an economy that has not experienced a significant recession for 20 years, that has strong banks and little government debt – and that debt remains AAA-rated,” he says.
Stevens explained that were the situation in Europe to worsen its impact on global markets would be felt in Australia in the same way that the collapse of Lehman Brothers in 2008 impacted on credit conditions, trade finance, share prices, and household and business confidence.
“There was a period late in 2011 where there was a genuine fear that this could happen again. Funding markets tightened up and effectively closed for many European banks. Inter-bank activity more or less ceased in Europe.
“The cocktail of sovereign credit concerns, large bank exposures to those sovereigns, possible bank capital shortfalls and prospective large debt rollover needs of banks, not to mention the unpredictable dynamics of the Greek workout, had everyone very much on edge,” he says.
Stevens says much more needs to be done to put sovereigns and banks onto a sound footing in the longer term.
“Interbank activity remains constrained and unsecured funding remains expensive for banks. It is noteworthy that large corporates can borrow more cheaply than can banks with higher credit ratings, such is the odium investors attach to banks (though this is not confined to Europe),” he said.
Despite these concerns, Stevens said foreign investors continued to view Australia as “quite open to them, and that, reflecting its economic circumstances, offers rates of return that are high by international standards, even though they are low by Australian historical standards”.
“They understand the potential returns on the mineral and energy wealth stored in or around the Australian continent, and that our terms of trade have over the past year been higher than at any time for more than a century. There has been increased appetite for Australian dollar denominated assets, particularly sovereign debt, and the Australian dollar has risen strongly, to be at its highest level in three decades,” he added.
However, he also highlighted the two-speed economy and different rates of growth potential for different sectors, calling it “structural change-inducing”.
 
 
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RBA governor Glenn Stevens assuages Australian housing market fears but acknowledges European crisis fallout could loom

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Industry super fund AustralianSuper plans to invest another $4 billion in the property sector over the next four years, doubling its exposure to the sector to $8 billion.
The super fund currently has $4.2 billion invested in real estate, with most held in pooled unlisted funds managed by Melbourne-based superannuation property fund ISPT and investment manager AMP Capital.
It has no investments in the listed A-REIT sector.
“AustralianSuper is a big investor in property and we’re growing,” says fund chairwoman Elana Rubin ahead of an address to Australian Financial Review’s Commercial Property Conference 2012 in Sydney tomorrow.
In this speech Rubin will outline a new property investment strategy for the fund which has 1.8 million members and a total investment portfolio of $42 billion.
“Not only are we growing in terms of the amount we will be investing, but we are changing the way we invest. This includes how and where,” say Rubin.
Future investment options could include offshore property ventures and ­investment in real estate debt.
According to analysts Chant West, at the end of 2011, A-REITs accounted for only 2.2% of all industry fund growth options.
AustralianSuper’s funds under management portfolio could reach $100 billion during the next five years.
 
 
 
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AustralianSuper to double property investment over next four years

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Construction group Leighton Holdings has accepted, without admission of liability, three infringement notices issued by ASIC in relation to the earnings downgrade it issued on April 11 last year.
Leighton paid the three penalties of $100,000 each on March 16 in compliance with the infringement notices.
In a statement Leighton said it had agreed to accept these infringement notices and pay the penalty as a way to conclude ASIC's investigation and to avoid additional legal costs.
Leighton Holdings chairman Stephen Johns says that as part of accepting the infringement notices, Leighton has agreed to implement a formal review of its continuous disclosure policies and procedures.
"We take our continuous disclosure obligations very seriously and have undertaken to ASIC to implement an independent review of our systems," he says.
"We recognise that continuous disclosure is extremely important for the efficient operation of the market and will use the review as part of our program to improve the systems that support our business.  We will commence the review as soon as practical.
"The infringement notices allow Leighton to move on from the events surrounding the earnings downgrade last year. This enables the management team, led by Mr Hamish Tyrwhitt, to focus on the operations of the business. They are not an admission of liability nor a finding of any breach of law.
"This gives us certainty and we are pleased to bring the ASIC investigation to a close," Johns says.
In the April 11 notice, the Leighton Group said it expected to report a loss of $427 million for the financial year, compared with its previous guidance for a profit of $480 million after tax – the worst annual loss in the company’s history.
“The revision is primarily due to writebacks of expected profit on the Airport Link project in Queensland and the Victorian Desalination Project, and an impairment of Leighton’s investment in the Habtoor Leighton Group (HLG),” the company said at the time.
ASIC chairman Greg Medcraft said the enforcement outcome achieved in this case “utilises the variety of regulatory tools available to ASIC to maintain overall integrity of its markets”.
 
 
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Leighton Holdings pays $300,000 fine over earnings downgrade infringement notices

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First-time property investors buying off the plan should consider low-rise apartments over high-rise units, according to developers and market analysts.

WBP Property Group chief executive Greville Pabst discourages investors against looking at developments because they don’t have the element of scarcity, can have very high body corporate fees and historically have not provided much in the way of capital growth.

WBP is forecasting values in high-rise apartments to fall by as much as 5% in 2012 in some developments and is particurlarly bearish about investing in multi-unit projects.

According to APM senior economist Dr Andrew Wilson, low-rise developments are typically directed towards owner-occupiers rather than investors, which make them even more appealing for investors.

"It can be very easy to attract tenants, especially if it's close to employment and transport,” he told the Sydney Morning Herald 

According to Manhattan Hanson director of developer Daved Lambert, low-rise are usually much more boutique developments and are smaller and are more exclusive.

"You know at any point, you can resell them without being in competition with 300 other identical apartments,” he says.

A first-time property investment survey carried out in July last year by Mortgage Choice found that nearly two-thirds of respondents (62%) were looking to buy a house.

Of the remaining 38% looking to buy an apartment, about half were considering a one- or two-bedroom unit.

For six smart steps towards buying your first investment property, sign up for Property Observer’s free webinar with property investment expert Chris Gray on Thursday, March 22 at 12.30pm.


<hr>
Note: Webinar has now closed.
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Low-rise units a better option for first-time investors than high-rise: WBP

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There are 47 suburbs currently offering property investors gross rental yields of 6% or more with list headed by the remote Queensland mining and agricultural town of Roma, analysis of Smart Investor magazine’s top 601 suburbs list has revealed.
The hotspot list is based on those suburbs where dwelling prices appreciated the greatest over the 12 months to December 2011.
NSW has the highest proportion of high-yielding suburbs with 13, followed by 12 in Queensland, 10 in Victoria, six in Tasmania three in South Australia, two in Western Australia and one in the Northern Territory.
Roma, a town in the western Darling Downs area of south-west Queensland, 515 kilometres west of Brisbane, is currently offering the highest gross rental yield of all 601 suburbs on the list.
Houses in Roma have a gross rental yield of 8.7% with a median price of $300,000 and a median weekly rent of $300.
Next on the list is the small town of Queenstown (just 5,000 people) in the western coast region of Tasmania, where the median house prices is under $90,000.
Weekly median rents in Queenstown are $150, equating to a yield of 8.2%. The town is the home of the West Coast Wilderness Railway, a 35-kilometre journey to Strahan on a 100-year-old steam-powered locomotive as well as a thriving arts community.
NSW’s top-yielding location is also extremely remote – Broken Hill in the NSW outback, where the median house price is just $127,500, the median weekly rent is $200 and the median gross rental yield is 7.5%.
NSW suburbs with top rental yields of 6% or more
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="154" valign="top">
 
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Median weekly rent
</td>
<td width="154" valign="top">
Gross rental yield
</td>
</tr>
<tr>
<td width="154" valign="top">
Broken Hill houses
</td>
<td width="154" valign="top">
$127,500
</td>
<td width="154" valign="top">
$200
</td>
<td width="154" valign="top">
7.5%
</td>
</tr>
<tr>
<td width="154" valign="top">
Warwick Farm units
</td>
<td width="154" valign="top">
$226,000
</td>
<td width="154" valign="top">
$280
</td>
<td width="154" valign="top">
7%
</td>
</tr>
<tr>
<td width="154" valign="top">
Moree houses
</td>
<td width="154" valign="top">
$231,500
</td>
<td width="154" valign="top">
$230
</td>
<td width="154" valign="top">
6.9%
</td>
</tr>
<tr>
<td width="154" valign="top">
Lakemba units
</td>
<td width="154" valign="top">
$256,000
</td>
<td width="154" valign="top">
$320
</td>
<td width="154" valign="top">
6.6%
</td>
</tr>
<tr>
<td width="154" valign="top">
West Kempsey houses
</td>
<td width="154" valign="top">
$215,000
</td>
<td width="154" valign="top">
$250
</td>
<td width="154" valign="top">
6.5%
</td>
</tr>
<tr>
<td width="154" valign="top">
Fairfield units
</td>
<td width="154" valign="top">
$260,000
</td>
<td width="154" valign="top">
$315
</td>
<td width="154" valign="top">
6.4%
</td>
</tr>
<tr>
<td width="154" valign="top">
Wiley Park units
</td>
<td width="154" valign="top">
$270,000
</td>
<td width="154" valign="top">
$315
</td>
<td width="154" valign="top">
6.4%
</td>
</tr>
<tr>
<td width="154" valign="top">
Kurri Kurri houses
</td>
<td width="154" valign="top">
$257,500
</td>
<td width="154" valign="top">
$290
</td>
<td width="154" valign="top">
6.3%
</td>
</tr>
<tr>
<td width="154" valign="top">
Gunnedah houses
</td>
<td width="154" valign="top">
$269,000
</td>
<td width="154" valign="top">
$285
</td>
<td width="154" valign="top">
6.3%
</td>
</tr>
<tr>
<td width="154" valign="top">
Glenn Innes houses
</td>
<td width="154" valign="top">
$199,000
</td>
<td width="154" valign="top">
$200
</td>
<td width="154" valign="top">
6.2%
</td>
</tr>
<tr>
<td width="154" valign="top">
Young houses
</td>
<td width="154" valign="top">
$235,000
</td>
<td width="154" valign="top">
$230
</td>
<td width="154" valign="top">
6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Roselands units
</td>
<td width="154" valign="top">
$323,500
</td>
<td width="154" valign="top">
$330
</td>
<td width="154" valign="top">
6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Minto houses
</td>
<td width="154" valign="top">
$318,500
</td>
<td width="154" valign="top">
$350
</td>
<td width="154" valign="top">
6%
</td>
</tr>
</tbody></table>
 
 Queensland suburbs with top rental yields of 6% or more
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="154" valign="top">
 
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Median weekly rent
</td>
<td width="154" valign="top">
Gross rental yield
</td>
</tr>
<tr>
<td width="154" valign="top">
Roma houses
</td>
<td width="154" valign="top">
$300,000
</td>
<td width="154" valign="top">
$480
</td>
<td width="154" valign="top">
8.7%
</td>
</tr>
<tr>
<td width="154" valign="top">
Emerald houses
</td>
<td width="154" valign="top">
$412,250
</td>
<td width="154" valign="top">
$550
</td>
<td width="154" valign="top">
7.6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Calliope houses
</td>
<td width="154" valign="top">
$447,000
</td>
<td width="154" valign="top">
$550
</td>
<td width="154" valign="top">
6.6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Spring Hill units
</td>
<td width="154" valign="top">
$388,500
</td>
<td width="154" valign="top">
$450
</td>
<td width="154" valign="top">
6.5%
</td>
</tr>
<tr>
<td width="154" valign="top">
Brisbane units
</td>
<td width="154" valign="top">
$430,000
</td>
<td width="154" valign="top">
$295
</td>
<td width="154" valign="top">
6.5%
</td>
</tr>
<tr>
<td width="154" valign="top">
Nth Mackay houses
</td>
<td width="154" valign="top">
$350,000
</td>
<td width="154" valign="top">
$432
</td>
<td width="154" valign="top">
6.2%
</td>
</tr>
<tr>
<td width="154" valign="top">
S. Gladstone houses
</td>
<td width="154" valign="top">
$395,000
</td>
<td width="154" valign="top">
$370
</td>
<td width="154" valign="top">
6.1%
</td>
</tr>
<tr>
<td width="154" valign="top">
Glen Eden houses
</td>
<td width="154" valign="top">
$463,000
</td>
<td width="154" valign="top">
$550
</td>
<td width="154" valign="top">
6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Slade Point houses
</td>
<td width="154" valign="top">
$380,000
</td>
<td width="154" valign="top">
$400
</td>
<td width="154" valign="top">
6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Clinton houses
</td>
<td width="154" valign="top">
$450,000
</td>
<td width="154" valign="top">
$520
</td>
<td width="154" valign="top">
6%
</td>
</tr>
<tr>
<td width="154" valign="top">
W. Gladstone houses
</td>
<td width="154" valign="top">
$410,000
</td>
<td width="154" valign="top">
$430
</td>
<td width="154" valign="top">
6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Sth Mackay houses
</td>
<td width="154" valign="top">
$360,000
</td>
<td width="154" valign="top">
$390
</td>
<td width="154" valign="top">
6%
</td>
</tr>
</tbody></table>
 Victorian suburbs with top rental yields of 6% or more
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="154" valign="top">
 
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Median weekly rent
</td>
<td width="154" valign="top">
Gross rental yield
</td>
</tr>
<tr>
<td width="154" valign="top">
Red Cliffs houses
</td>
<td width="154" valign="top">
$173,500
</td>
<td width="154" valign="top">
$180
</td>
<td width="154" valign="top">
7.9%
</td>
</tr>
<tr>
<td width="154" valign="top">
Morwell houses
</td>
<td width="154" valign="top">
$165,000
</td>
<td width="154" valign="top">
$180
</td>
<td width="154" valign="top">
6.8%
</td>
</tr>
<tr>
<td width="154" valign="top">
Morwell houses
</td>
<td width="154" valign="top">
$165,000
</td>
<td width="154" valign="top">
$180
</td>
<td width="154" valign="top">
6.8%
</td>
</tr>
<tr>
<td width="154" valign="top">
Moe houses
</td>
<td width="154" valign="top">
$160,000
</td>
<td width="154" valign="top">
$190
</td>
<td width="154" valign="top">
6.7%
</td>
</tr>
<tr>
<td width="154" valign="top">
Maryborough houses
</td>
<td width="154" valign="top">
$185,000
</td>
<td width="154" valign="top">
$230
</td>
<td width="154" valign="top">
6.5%
</td>
</tr>
<tr>
<td width="154" valign="top">
Horsham houses
</td>
<td width="154" valign="top">
$214,000
</td>
<td width="154" valign="top">
$225
</td>
<td width="154" valign="top">
6.4%
</td>
</tr>
<tr>
<td width="154" valign="top">
Eaglehawk houses
</td>
<td width="154" valign="top">
$234,250
</td>
<td width="154" valign="top">
$270
</td>
<td width="154" valign="top">
6.2%
</td>
</tr>
<tr>
<td width="154" valign="top">
White Hills houses
</td>
<td width="154" valign="top">
$274,000
</td>
<td width="154" valign="top">
$275
</td>
<td width="154" valign="top">
6.1%
</td>
</tr>
<tr>
<td width="154" valign="top">
California Gully houses
</td>
<td width="154" valign="top">
$227,500
</td>
<td width="154" valign="top">
$260
</td>
<td width="154" valign="top">
6.1%
</td>
</tr>
<tr>
<td width="154" valign="top">
Norlane houses
</td>
<td width="154" valign="top">
$203,000
</td>
<td width="154" valign="top">
$230
</td>
<td width="154" valign="top">
6.1%
</td>
</tr>
</tbody></table>
 Tasmania suburbs with top rental yields of 6% or more
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="154" valign="top">
 
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Median weekly rent
</td>
<td width="154" valign="top">
Gross rental yield
</td>
</tr>
<tr>
<td width="154" valign="top">
Queenstown houses
</td>
<td width="154" valign="top">
$89,500
</td>
<td width="154" valign="top">
$150
</td>
<td width="154" valign="top">
8.2%
</td>
</tr>
<tr>
<td width="154" valign="top">
Bridgewater houses
</td>
<td width="154" valign="top">
$177,000
</td>
<td width="154" valign="top">
$245
</td>
<td width="154" valign="top">
7.3%
</td>
</tr>
<tr>
<td width="154" valign="top">
Ravenswood houses
</td>
<td width="154" valign="top">
$163,500
</td>
<td width="154" valign="top">
$200
</td>
<td width="154" valign="top">
6.4%
</td>
</tr>
<tr>
<td width="154" valign="top">
Rokeby houses
</td>
<td width="154" valign="top">
$209,000
</td>
<td width="154" valign="top">
$248
</td>
<td width="154" valign="top">
6.3%
</td>
</tr>
<tr>
<td width="154" valign="top">
Glenorchy houses
</td>
<td width="154" valign="top">
$255,000
</td>
<td width="154" valign="top">
$290
</td>
<td width="154" valign="top">
6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Invermay houses
</td>
<td width="154" valign="top">
$216,500
</td>
<td width="154" valign="top">
$250
</td>
<td width="154" valign="top">
6%
</td>
</tr>
</tbody></table>
 South Australia suburbs with top rental yields of 6% or more
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="154" valign="top">
 
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Median weekly rent
</td>
<td width="154" valign="top">
Gross rental yield
</td>
</tr>
<tr>
<td width="154" valign="top">
Ceduna Houses
</td>
<td width="154" valign="top">
$265,000
</td>
<td width="154" valign="top">
$270
</td>
<td width="154" valign="top">
6.8%
</td>
</tr>
<tr>
<td width="154" valign="top">
Roxby Downs houses
</td>
<td width="154" valign="top">
$415,000
</td>
<td width="154" valign="top">
$460
</td>
<td width="154" valign="top">
6.3%
</td>
</tr>
<tr>
<td width="154" valign="top">
Elizabeth Downs houses
</td>
<td width="154" valign="top">
$197,000
</td>
<td width="154" valign="top">
$240
</td>
<td width="154" valign="top">
6.3%
</td>
</tr>
</tbody></table>
 WA suburbs with top rental yields of 6% or more
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="154" valign="top">
 
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Median weekly rent
</td>
<td width="154" valign="top">
Gross rental yield
</td>
</tr>
<tr>
<td width="154" valign="top">
Kalgoorlie houses
</td>
<td width="154" valign="top">
$312,000
</td>
<td width="154" valign="top">
$370
</td>
<td width="154" valign="top">
6.6%
</td>
</tr>
<tr>
<td width="154" valign="top">
Boulder houses
</td>
<td width="154" valign="top">
$263,000
</td>
<td width="154" valign="top">
$320
</td>
<td width="154" valign="top">
6.6%
</td>
</tr>
</tbody></table>
 
NT suburbs with top rental yields of 6% or more
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="154" valign="top">
 
</td>
<td width="154" valign="top">
Median price
</td>
<td width="154" valign="top">
Median weekly rent
</td>
<td width="154" valign="top">
Gross rental yield
</td>
</tr>
<tr>
<td width="154" valign="top">
Katherine East houses
</td>
<td width="154" valign="top">
$335,000
</td>
<td width="154" valign="top">
$380
</td>
<td width="154" valign="top">
6.1%
</td>
</tr>
</tbody></table>
</body></html>

The 47 brightest localities for rental yields on Smart Investor's list of 601 suburb hotspots

<html><body>
The Queensland Office of Fair Trading (OFT) continues to investigate boom-time property transaction on the Gold Coast’s Mermaid Beach that occurred between 2007 and 2008.
A spokesperson for the Queensland OFT told Property Observer the inquiry was still underway but could not comment further.
While the inquiry, which dates back to May 2010, continues, <a href="https://www.propertyobserver.com.au/residential/the-8-biggest-losses-on-mermaid-beach-s-millionaire-s-row-show-no-post-gfc-recovery-in-sight/2011113052610" target="_blank">owners of property on Mermaid Beach’s millionaires’ row</a> continue to<a href="https://www.propertyobserver.com.au/queensland/property-developer-jack-ray-and-natalie-gruzlewski-looking-elsewhere-on-mermaid-beach-despite-copping-loss/2012030553689" target="_blank"> sell homes at heavy losses</a>.
The inquiry was sparked in May 2010 when then Queensland Minister for Fair Trading Peter Lawlor and current Labor member for Southport brought allegations of an investment scam to the attention of the Queensland Police.
At the time Lawler came to the conclusion that the transactions “stink to high heaven”.
“There's a fictitious component in the transactions. It makes you wonder what went on with all of those [Mermaid Beach beachfront] properties.
“The values in that area went crazy over a short period of time. There was almost a stock market-like frenzy about it as people were getting in and out and making a couple of million dollars at a time the agents were also receiving very big commissions,” Lawler said at the time.
 
</body></html>

Mermaid Beach property deals still under Office of Fair Trading investigation

<html><body>
The housing market remained in neutral in February, with Perth the standout market, according to Residex.
Perth house prices appreciated by 2.32% in February to a median of $478,500, and unit prices lifted 2.1% to a median of $382,500.
Sydney house prices lifted 1.35% over February to a median house price of $657,000 while units fell 1.2% to $483,500.
Overall house prices lifted 0.42% over February while units fell by 0.49%.
Melbourne’s housing market continued to decline, with house prices dropping just over 1% to $558,500 while Brisbane house values fell 1.12% to $422,500.
Over the last three months, Melbourne house prices have depreciated the greatest among the major capital city markets falling 2.75%.  It also the weakest performing capital city over the past 12 months with house prices down 6.57%.
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="123">
 
</td>
<td valign="top" colspan="2" width="246">
Houses
</td>
<td valign="top" colspan="2" width="247">
Units
</td>
</tr>
<tr>
<td valign="top" width="123">
 
</td>
<td valign="top" width="123">
Median price
</td>
<td valign="top" width="123">
Change over Feb
</td>
<td valign="top" width="123">
Median price
</td>
<td valign="top" width="123">
Change over Feb
</td>
</tr>
<tr>
<td valign="top" width="123">
Sydney
</td>
<td valign="top" width="123">
$657,000
</td>
<td valign="top" width="123">
+1.35%
</td>
<td valign="top" width="123">
$483,500
</td>
<td valign="top" width="123">
-0.25%
</td>
</tr>
<tr>
<td valign="top" width="123">
Melbourne
</td>
<td valign="top" width="123">
$558,500
</td>
<td valign="top" width="123">
-1.02%
</td>
<td valign="top" width="123">
$424,000
</td>
<td valign="top" width="123">
-0.61
</td>
</tr>
<tr>
<td valign="top" width="123">
Perth
</td>
<td valign="top" width="123">
$468,500
</td>
<td valign="top" width="123">
+2.32%
</td>
<td valign="top" width="123">
$382,500
</td>
<td valign="top" width="123">
+2.1%
</td>
</tr>
<tr>
<td valign="top" width="123">
Brisbane
</td>
<td valign="top" width="123">
$422,500
</td>
<td valign="top" width="123">
-1.12%
</td>
<td valign="top" width="123">
$346,500
</td>
<td valign="top" width="123">
-0.67%
</td>
</tr>
<tr>
<td valign="top" width="123">
Adelaide
</td>
<td valign="top" width="123">
$387,500
</td>
<td valign="top" width="123">
-1.22%
</td>
<td valign="top" width="123">
$299,500
</td>
<td valign="top" width="123">
-1.9%
</td>
</tr>
<tr>
<td valign="top" width="123">
Darwin
</td>
<td valign="top" width="123">
$480,000
</td>
<td valign="top" width="123">
+0.46%
</td>
<td valign="top" width="123">
$393,000
</td>
<td valign="top" width="123">
+0.83%
</td>
</tr>
<tr>
<td valign="top" width="123">
ACT
</td>
<td valign="top" width="123">
$532,500
</td>
<td valign="top" width="123">
+0.93%
</td>
<td valign="top" width="123">
$413,500
</td>
<td valign="top" width="123">
-2.35%
</td>
</tr>
<tr>
<td valign="top" width="123">
Hobart
</td>
<td valign="top" width="123">
$379,000
</td>
<td valign="top" width="123">
-1.73%
</td>
<td valign="top" width="123">
$260,000
</td>
<td valign="top" width="123">
-3.55%
</td>
</tr>
</tbody></table>
Source: Residex
The February Residex results come out as a report in the Wall Street Journal claims the Australian housing market “party” is coming to an end.
“Australian home owners sidestepped the worst of the global financial crisis as the country's housing market held up well. But the party looks close to an end,” writes the WSJ’s Cynthia Koons.
“Despite the country's resource riches, the economy is faltering. Corporate profits are down and the unemployment rate is worsening. When commodities prices dropped in the fourth quarter, gross domestic product growth disappointed.”
Koons says such weakening data is flowing through to the property market, highlighting the 7.3% drop in new home sales in January, the recent weak ABS mortgage lending figures and recent drop in capital city house prices.
Worse, she says Standard &amp; Poor's has calculated the Australian household debt-to-income ratio at about 150% higher than the ratio in the US just before the subprime mortgage crisis in late 2007.
“Meanwhile, Australia's major banks have been forced to increase mortgage rates due to the higher cost of funding in global markets. Faced with a slowing economy and higher interest payments, Australians are surely more likely to pay down debt rather than borrow more to fund home purchases,” Koons adds.
Residex CEO John Edwards does not share this gloomy outlook, predicting that the housing market is about “three-plus months away from any Australia-wide pickup”.  Edwards bases this prediction on demand for Residex’s predictions reports, which are bought by investors ahead of a property purchase.
Click to enlarge
<a href="/images/stories/residexmarch16.jpg" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/residexmarch16thumb.jpg"></a>
“As you can see, report sales have dramatically increased since mid-2011, indicating that our housing market is about to start moving forward as activity increases,” he says.
“If the sales activity for each state was equally spread based on housing population, we could assume that all markets in Australia are about to move forward and that the worst is over, however as it turns out, our Predictions Report sales activity is limited in some states.
“Currently, interest surrounds Western Australia, New South Wales and Queensland, while activity for the Melbourne market is about 50% of that in both of Sydney and Brisbane.
“Perth is exhibiting an increase in sales activity also, but only at 15% of the sales activity occurring in Sydney and Brisbane.
“The western capital city has experienced such a significant downturn that investor recognition of a pending upturn will probably be a little slower in this market compared to others, however it is moving to growth more quickly than we envisaged, and we have been advising that this is the market to watch for a number of months now,” he says.
 
 
</body></html>

Perth beats Sydney in flat February housing market as Wall Street Journal warns of housing ‘creaks’ 

<html><body>
First-time property investors should look at the outlying areas of Sydney rather than focus on the pricier inner-city suburbs, according to SQM Research managing director Louis Christopher.
Christopher says the best opportunities for Sydney investors lie in the outer suburbs, more than 25 kilometres from the city centre.
He picks the western Sydney suburbs of Campbelltown, Liverpool and Penrith as good places to invest in residential property at a time western Sydney’s reputation as investment hotspot is on the rise.
Smart Property Investment magazine’s most recent list of the 50 suburbs with the greatest capital growth potential included <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/hotspots-from-fibros-to-mcmansions-western-sydney-attracting-investor-attention/2012012953164">four western Sydney suburbs: Blacktown, Liverpool, Penrith and Rosemeadow.</a>
Christopher says rents in Campbelltown, Liverpool and Penrith have been growing at a compound annual growth rate of 7% since 2009 due to an influx of families looking for more affordable housing options.
He does not have a preference for either houses or units and says total returns from both types of properties tend to perform similarly in the long term.
Douglas Driscoll, chief executive of Starr Partners, also says <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/greater-western-sydney-market-to-go-from-strength-to-strength-in-2012/2011122252902">western Sydney suburbs will perform strongly in 2012</a>.
He expects this market to get stronger, with new suburbs and shopping districts appearing, businesses establishing and settling in the area, transport connections improving and large master-planned residential developments appearing.
“No other area in Sydney is seeing that amount of change so quickly,” he says.
For <a target="_blank" href="/news">Six smart steps towards buying your first investment property</a>, sign up for Property Observer’s free webinar with property investment expert Chris Gray on Thursday, March 22 at 12.30pm.
 
 
</body></html>

First-time Sydney investors should look at outer suburbs: Louis Christopher

<html><body>
Sydney and Perth suburbs, many of them in the cities’ outer rings, dominate a list of 42 top price growth hotspots for 2012.
The 42 suburbs have been cherry-picked from the “601 Top Suburbs” report compiled by Smart Investor magazine.
The hotspot list is based on those suburbs where dwelling prices appreciated the greatest over the 12 months to December 2011.
Out of the 601 suburbs, only 19 are expected to show price appreciation of more than 5% with eight each in NSW and Western Australia and three in Queensland.
Indicating the subdued outlook for Victoria in 2012, only seven suburbs are forecast to deliver returns of 4%.
The NSW list is made up entirely of Sydney suburbs, with half of these in the outer west – a growth hotspot identified by the likes of <a href="https://www.propertyobserver.com.au/new-south-wales/hotspots-from-fibros-to-mcmansions-western-sydney-attracting-investor-attention/2012012953164" target="_blank">SQM Research director Louis Christopher and Douglas Driscoll, CEO of Starr Partners</a>.
The WA list indicates a developing hotspot south of Perth, with median house price in Thornlie, Canning Vale and Willetton expected to grow more than 5% in 2012.
The Queensland list is made up entirely of remote mining towns.
NSW top growth suburbs in 2012 (5% plus)
<ol>
<li>Cremorne Point units (north shore)</li>
<li>Hillsdale units (eastern suburbs)</li>
<li>Smithfield houses (outer west)</li>
<li>Five Dock houses (west)</li>
<li>Condell Park houses (outer west)</li>
<li>North Rocks houses (outer west)</li>
<li>Villawood houses (outer west)</li>
<li>Marsfield units (north west)</li>
</ol>
WA top growth suburbs in 2012 (5% plus)
<ol>
<li>West Perth houses and units</li>
<li>South Hedland houses (mining, Pilbara)</li>
<li>Willetton houses (south Perth)</li>
<li>Bassendean houses (north east Perth)</li>
<li>Port Kennedy houses (outer south Perth)</li>
<li>Thornlie houses (south east Perth)</li>
<li>Boulder houses (west Perth)</li>
<li>Canning Vale houses (south Perth)</li>
</ol>
Queensland top growth suburbs in 2012 (5% plus)
<ol>
<li>Moranbah houses (mining, Isaac region)</li>
<li>Blackwater houses (mining near Rockhampton)</li>
<li>Emerald houses and Units (mining, central highlands)</li>
</ol>
Victoria top growth suburbs in 2012 (4%)
<ol>
<li>McCrae houses</li>
<li>Kialla houses</li>
<li>Maryborough houses</li>
<li>Portland houses</li>
<li>Horsham houses</li>
<li>Red Cliffs houses</li>
<li>Miners Rest houses</li>
</ol>
South Australia top growth suburbs in 2012 (4% plus)
<ol>
<li>Roxby Downs houses</li>
<li>Ingle Farm houses</li>
<li>MunnoParaWest houses</li>
</ol>
ACT top growth suburbs in 2012 (4% plus)
<ol>
<li>Gungahlin houses</li>
<li>Monash houses</li>
</ol>
TAS top growth suburbs in 2012 (4% plus)
<ol>
<li>New Town units</li>
<li>Queenstown houses</li>
<li>Lenah Valley houses</li>
<li>New Town houses</li>
<li>Blackmans Bay houses</li>
</ol>
NT top growth suburbs in 2012 (4% plus)
<ol>
<li>Roseberry houses and units</li>
<li>Bellamack houses</li>
<li>Parap units</li>
<li>Stuart Park houses</li>
<li>Bakewell houses</li>
<li>Gunn houses</li>
</ol>
 
 
 
<ol></ol>
</body></html>

The 42 brightest prospects for price growth on Smart Investor's list of top 601 suburb hotspots

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.

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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.”

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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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