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Six 7-Eleven service stations will go to auction on March 22 in Brisbane. 
The six sites are being sold <a href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=www.propertyobserver.com.au+7-Eleven&amp;source=web&amp;cd=1&amp;ved=0CCQQFjAA&amp;url=http%3A%2F%2Fwww.propertyobserver.com.au%2Fretail%2Fnsw-7-eleven-service-stations-expected-to-garner-strong-investor-interest%2F2012022053466&amp;ei=uI5ET93pKIOZiAf-0snvAw&amp;usg=AFQjCNHxZJTBWXTN0E9erydQxFoB6AsAcg" target="_blank">alongside a batch of 10 NSW service stations</a>, which will go to auction on the same day in Sydney. 
The largest of the six properties is a 5,072-square-metre site at 1 Kingston Road in Woodridge, about 20 kilometres south of the Brisbane CBD, which has rent commencing at $136,000 and has an estimated land value of $2 million. 
The full list of properties is:
 
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="119">
Location
</td>
<td valign="top" width="129">
Address
</td>
<td valign="top" width="124">
Size
</td>
<td valign="top" width="125">
Annual Rent
</td>
<td valign="top" width="119">
Land value
</td>
</tr>
<tr>
<td valign="top" width="119">
Woodridge
</td>
<td valign="top" width="129">
1 Kingston Road
</td>
<td valign="top" width="124">
5,072 sqm
</td>
<td valign="top" width="125">
$136,000
</td>
<td valign="top" width="119">
$2 million
</td>
</tr>
<tr>
<td valign="top" width="119">
Springwood
</td>
<td valign="top" width="129">
53 Springwood Road
</td>
<td valign="top" width="124">
3,702 sqm
</td>
<td valign="top" width="125">
$170,000
</td>
<td valign="top" width="119">
$2.4 million
</td>
</tr>
<tr>
<td valign="top" width="119">
Marsden
</td>
<td valign="top" width="129">
79 Chambers Flat Road
</td>
<td valign="top" width="124">
3,500sqm
</td>
<td valign="top" width="125">
$170,000
</td>
<td valign="top" width="119">
$1 million
</td>
</tr>
<tr>
<td valign="top" width="119">
Sandgate
</td>
<td valign="top" width="129">
86 Rainbow Street
</td>
<td valign="top" width="124">
1,248sqm
</td>
<td valign="top" width="125">
$120,000
</td>
<td valign="top" width="119">
$640,000
</td>
</tr>
<tr>
<td valign="top" width="119">
Strathpine
</td>
<td valign="top" width="129">
273 Gympie Road
</td>
<td valign="top" width="124">
2,365sqm
</td>
<td valign="top" width="125">
$175,000
</td>
<td valign="top" width="119">
$920,000
</td>
</tr>
<tr>
<td valign="top" width="119">
Nambour
</td>
<td valign="top" width="129">
922 Nambour Connection Road
</td>
<td valign="top" width="124">
1,821sqm
</td>
<td valign="top" width="125">
$190,000
</td>
<td valign="top" width="119">
$270,000
</td>
</tr>
</tbody></table>
  
The properties are being marketed by Sam Hatcher and Ben McGrath from Jones Lang LaSalle. 
All properties come with new 15-year leases with three options of five year renewals and guaranteed 4% annual rent increases. 
McGrath tells Property Observer he expects the petrol stations to sell in a similar price range as achieved in NSW and Victoria. 
Last year about $90 million worth of 7-Elevens were sold in and around Sydney and Melbourne.
Investors paid <a href="https://www.propertyobserver.com.au/retail/sales-of-7-elevens-during-2011-secure-investors-yields-of-between-4.6-and-8.5/2011112752554">between$1.6 million for a 1,900-square-metre service station in Bayswater East in Melbourne up to $4.6 million for a 2,824-square-metre site in Turramurra</a> in 2011.
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lschlesinger-FZcF9M3vE6

Six Queensland 7-Elevens to tempt commercial property investors at March auction

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More famous for its cheap Asian eateries, strong immigrant population and high rates of crime, Footscray and neighbouring West Footscray to feature among six suburbs within 10 kilometres of the Melbourne CBD on the latest hot 100 list of investment locations compiled by Australian Property Investor.
The four other suburbs within 10 kilometres of the city included on the sixth edition of the annual list are Carlton North, Northcote, Thornbury and Ascot Vale.
Both Footscray suburbs have the most affordable median house prices ($520,000 for Footscray and $500,000 for West Footscray) and median unit prices ($318,000 and $290,000) out of the six inner ring suburbs
Melbourne hottest suburbs with 10 kilometres of CBD 
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="77" valign="top">
 
</td>
<td width="77" valign="top">
Dis-tance from CBD
</td>
<td width="77" valign="top">
Median house price
</td>
<td width="77" valign="top">
Median unit price
</td>
<td width="77" valign="top">
Median house rent
</td>
<td width="77" valign="top">
Median unit 
rent
</td>
<td width="77" valign="top">
House yield
</td>
<td width="77" valign="top">
Unit yield
</td>
</tr>
<tr>
<td width="77" valign="top">
Carlton North
</td>
<td width="77" valign="top">
3.8 kms
</td>
<td width="77" valign="top">
$830,000
</td>
<td width="77" valign="top">
$460,000
</td>
<td width="77" valign="top">
$520
</td>
<td width="77" valign="top">
$395
</td>
<td width="77" valign="top">
3.3%
</td>
<td width="77" valign="top">
4.5%
</td>
</tr>
<tr>
<td width="77" valign="top">
North-cote
 
</td>
<td width="77" valign="top">
5.5km
</td>
<td width="77" valign="top">
$800,000
</td>
<td width="77" valign="top">
$445,000
</td>
<td width="77" valign="top">
$495
</td>
<td width="77" valign="top">
$335
</td>
<td width="77" valign="top">
3.2%
</td>
<td width="77" valign="top">
3.9%
</td>
</tr>
<tr>
<td width="77" valign="top">
Thorn- bury
 
</td>
<td width="77" valign="top">
7km
</td>
<td width="77" valign="top">
$658,000
</td>
<td width="77" valign="top">
$375,000
</td>
<td width="77" valign="top">
$440
</td>
<td width="77" valign="top">
$290
</td>
<td width="77" valign="top">
3.5%
</td>
<td width="77" valign="top">
4%
</td>
</tr>
<tr>
<td width="77" valign="top">
Ascot Vale
 
</td>
<td width="77" valign="top">
6.6km
</td>
<td width="77" valign="top">
$707,000
</td>
<td width="77" valign="top">
$468,000
</td>
<td width="77" valign="top">
$450
</td>
<td width="77" valign="top">
$340
</td>
<td width="77" valign="top">
3.3%
</td>
<td width="77" valign="top">
3.8%
</td>
</tr>
<tr>
<td width="77" valign="top">
Foots- cray
 
</td>
<td width="77" valign="top">
6.9km
</td>
<td width="77" valign="top">
$520,000
</td>
<td width="77" valign="top">
$318,000
</td>
<td width="77" valign="top">
$360
</td>
<td width="77" valign="top">
$295
</td>
<td width="77" valign="top">
3.6%
</td>
<td width="77" valign="top">
4.8%
</td>
</tr>
<tr>
<td width="77" valign="top">
West Foots- cray
</td>
<td width="77" valign="top">
9km
</td>
<td width="77" valign="top">
$500,000
</td>
<td width="77" valign="top">
$290,000
</td>
<td width="77" valign="top">
$360
</td>
<td width="77" valign="top">
$240
</td>
<td width="77" valign="top">
3.7%
</td>
<td width="77" valign="top">
4.3%
</td>
</tr>
</tbody></table>
Source: Australian Property Investor Magazine
Property consultant Peter Rogozik says the key drivers of the Footscray property market are affordability, the potential for further capital growth and continued gentrification
“Footscray is in close proximity to the expanding Highpoint Shopping Centre in Maribyrnong, in Melbourne’s north west, and next door to trendy Seddon Village in Seddon and Yarraville, which have both taken off over the past 20 to 30 years,” he says.
“The major attraction of Footscray is it’s the most affordable inner-city suburb where you can still find a freestanding Edwardian house on a good size block from $550,000 with an approximate 4.2% gross rental yield,” he says.
Rogozik says the suburb is shaking its unfair labelling as being “painted in crime” with a more professional demographic moving in.
Alexandra Churches from valuers WBP Property says West Footscray has a very good council that is “actively rejuvenating the Barkly Street village”.
Its other strengths are its connectedness to the Melbourne CBD, with Ballarat and Geelong roads both merging into one and heading into the Melbourne CBD.
“The Westgate Freeway also connects the suburb with the city,” says Church.
While West Footscray does not provide families with a great option of schools, Church says it has university campuses nearby, “a great multicultural food hub, major public and private hospitals, a train station upgrade and is close to a major shopping centre”.
The other Melbourne suburbs chosen because of their proximity to the CBD include Carlton North (“local facilities including parks, restaurants, bars and cafés, universities and more”); Northcote (“family-friendly suburb, where capital growth is generally strong”); Ascot Vale (“more affordable the other suburbs and well serviced by public transport”) and Thornbury (“good access to hospitals and schools and plenty of parkland”). 
Looking beyond the 10-kilometre radius, there are seven Melbourne suburbs on the list, including some surprise locations such as Sunshine, Broadmeadows and the outlying suburbs of Frankston and Dandenong.
Outside of Melbourne the regional centres of Ballarat and Bendigo as well as the country towns of Werribee and Warrnambool are also included in the hot 100.
<table style="width: 470px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td width="115" valign="top">
Melbourne suburb
</td>
<td width="80" valign="top">
Distance from CBD
</td>
<td width="80" valign="top">
Median house price
</td>
<td width="80" valign="top">
Median unit price
</td>
<td width="72" valign="top">
Median house rent
</td>
<td width="72" valign="top">
Median unit 
rent
</td>
<td width="64" valign="top">
House yield
</td>
<td width="53" valign="top">
Unit yield
</td>
</tr>
<tr>
<td width="115" valign="top">
Box Hill
 
</td>
<td width="80" valign="top">
13 kms
</td>
<td width="80" valign="top">
$748,000
</td>
<td width="80" valign="top">
$410,000
</td>
<td width="72" valign="top">
$395
</td>
<td width="72" valign="top">
$270
</td>
<td width="64" valign="top">
2.7%
</td>
<td width="53" valign="top">
3.4%
</td>
</tr>
<tr>
<td width="115" valign="top">
Broad-meadows
 
</td>
<td width="80" valign="top">
15km
</td>
<td width="80" valign="top">
$359,000
</td>
<td width="80" valign="top">
$305,000
</td>
<td width="72" valign="top">
$310
</td>
<td width="72" valign="top">
$290
</td>
<td width="64" valign="top">
4.5%
</td>
<td width="53" valign="top">
4.9%
</td>
</tr>
<tr>
<td width="115" valign="top">
Dan- denong
 
 
</td>
<td width="80" valign="top">
28km
</td>
<td width="80" valign="top">
$375,000
</td>
<td width="80" valign="top">
$269,000
 
</td>
<td width="72" valign="top">
$310
</td>
<td width="72" valign="top">
$270
</td>
<td width="64" valign="top">
4.3%
</td>
<td width="53" valign="top">
5.2%
</td>
</tr>
<tr>
<td width="115" valign="top">
Frankston
 
 
</td>
<td width="80" valign="top">
40 kms
</td>
<td width="80" valign="top">
$350,000
</td>
<td width="80" valign="top">
$295,000
</td>
<td width="72" valign="top">
$310
</td>
<td width="72" valign="top">
$260
</td>
<td width="64" valign="top">
4.6%
</td>
<td width="53" valign="top">
4.6%
</td>
</tr>
<tr>
<td width="115" valign="top">
Ringwood
 
</td>
<td width="80" valign="top">
27 kms
</td>
<td width="80" valign="top">
$455,000
</td>
<td width="80" valign="top">
$383,000
 
</td>
<td width="72" valign="top">
$355
</td>
<td width="72" valign="top">
$305
</td>
<td width="64" valign="top">
4%
</td>
<td width="53" valign="top">
4.1%
</td>
</tr>
<tr>
<td width="115" valign="top">
Sunshine
 
 
</td>
<td width="80" valign="top">
13.2kms
</td>
<td width="80" valign="top">
$430,000
</td>
<td width="80" valign="top">
$265,000
</td>
<td width="72" valign="top">
$300
</td>
<td width="72" valign="top">
$250
</td>
<td width="64" valign="top">
3.6%
</td>
<td width="53" valign="top">
4.9%
</td>
</tr>
<tr>
<td width="115" valign="top">
Mentone
 
 
</td>
<td width="80" valign="top">
20.3km
</td>
<td width="80" valign="top">
$584,000
</td>
<td width="80" valign="top">
$396,000
</td>
<td width="72" valign="top">
$450
</td>
<td width="72" valign="top">
$295
</td>
<td width="64" valign="top">
4%
</td>
<td width="53" valign="top">
3.9%
</td>
</tr>
<tr>
<td width="616" colspan="8" valign="top">
Outside of Melbourne…
</td>
</tr>
<tr>
<td width="115" valign="top">
Werribee
 
</td>
<td width="80" valign="top">
34.6km
</td>
<td width="80" valign="top">
$310,000
</td>
<td width="80" valign="top">
$270,000
</td>
<td width="72" valign="top">
$270
</td>
<td width="72" valign="top">
$250
</td>
<td width="64" valign="top">
4.5%
</td>
<td width="53" valign="top">
4.8%
</td>
</tr>
<tr>
<td width="115" valign="top">
Ballarat
 
</td>
<td width="80" valign="top">
102km
</td>
<td width="80" valign="top">
$270,000
</td>
<td width="80" valign="top">
$220,000
</td>
<td width="72" valign="top">
$270
</td>
<td width="72" valign="top">
$190
</td>
<td width="64" valign="top">
5.2%
</td>
<td width="53" valign="top">
4.5%
</td>
</tr>
<tr>
<td width="115" valign="top">
Bendigo
 
</td>
<td width="80" valign="top">
132km
</td>
<td width="80" valign="top">
$280,000
</td>
<td width="80" valign="top">
n/a
</td>
<td width="72" valign="top">
$300
</td>
<td width="72" valign="top">
n/a
</td>
<td width="64" valign="top">
5.6%
</td>
<td width="53" valign="top">
n/a
</td>
</tr>
<tr>
<td width="115" valign="top">
 
</td>
<td width="80" valign="top">
 
</td>
<td width="80" valign="top">
 
</td>
<td width="80" valign="top">
 
</td>
<td width="72" valign="top">
 
</td>
<td width="72" valign="top">
 
</td>
<td width="64" valign="top">
 
</td>
<td width="53" valign="top">
 
</td>
</tr>
<tr>
<td width="115" valign="top">
Warr-nambool
 
</td>
<td width="80" valign="top">
226km
</td>
<td width="80" valign="top">
$315,000
</td>
<td width="80" valign="top">
$241,000
</td>
<td width="72" valign="top">
$320
</td>
<td width="72" valign="top">
$230
</td>
<td width="64" valign="top">
5.3%
</td>
<td width="53" valign="top">
5%
</td>
</tr>
</tbody></table>
Source: Australian Property Investor Magazine
 
 
 
 
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Unfashionable Footscray and West Footscray among 2012 Melbourne hotspots 

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The number of suburbs with median house prices above $1 million fell both in Melbourne and Sydney over the second half of 2011, with notable falls recorded in Toorak, a suburb synonymous with wealth and prestige.
APM senior economist Dr Andrew Wilson says the Melbourne prestige market has been “very soft”, with top-end buyers very scarce at the moment.
“There was some activity towards the end of the year, but this was mainly from bargain hunters – there is good value to be had,” he says.
<img src="/images/stories/17.gif">
The number of Melbourne suburbs with a median house price of more than $1 million, down from 28 in the first half of 2011.
 
<hr>
 
<img src="/images/stories/92.gif">
The number of Sydney suburbs with a median house price of more than $1 million, down from 102 in the first half of 2011.
<img src="/images/stories/17.gif" style="border-style: initial; border-color: initial;">
The number of Perth suburbs with a median house price of more than $1 million.
 
<hr>
 
<img src="/images/stories/4.gif">
The number of Adelaide suburbs with a median house price of more than $1 million.
 
<hr>
 
<img src="/images/stories/2.gif">
The number of Brisbane suburbs with a median house price of more than $1 million.
 
<hr>
 
<img src="/images/stories/1.gif">
The number of Canberra suburbs with a median house price of more than $1 million.
 
<hr>
 
Toorak recorded 92 sales over the period with a median price of $1.2 million while Malvern was also a notable prestige suburb to suffer a major house price correction, with its median sales price dropping 31% to $1.085 million from 73 sales during this period.
Most tellingly, Sydney has 52 prestige suburbs with higher median than Toorak. The list is topped by Bellevue Hill in the eastern suburbs, which has a median of $3.3 million from 39 sales.
AMP senior economist Dr Andrew Wilson says there were enough sales in Toorak for the result not to be a “statistical blip”.
“Toorak is traditionally a prestige cachet suburb, but it actually has a mixed profile in terms of price disparity and has some lower-priced properties,” he tells Property Observer.
The top ranking Melbourne suburb was Canterbury – 10 kilometres east of the CBD – which has a median sales price of just under $1.7 million achieved from 54 sales.
The fact that Canterbury ranks at the top reflects the quiet state of the market, Wilson says, because it has always ranked “second or third in terms of prestige”.
However, he says Canterbury is home to Melbourne’s “golden mile”, an area incorporating oak tree-lined Monomeath Avenue, whose residents have included the Minogue family, race car champion Mark Eddy and Andrew Peacock, former leader of the Liberal Party.
One of the strongest-performing prestige suburbs over the six-month period was Albert Park, a few kilometres south of the CBD and well known for its heritage buildings and <a title="Terraced house" href="https://en.wikipedia.org/wiki/Terraced_house">terraced houses</a>.
Albert Park ranks second on the list of prestige suburbs with a 35% gain in the second half of 2011 to a median of $1.55 million.
The bayside suburb of Brighton remains the most popular among prestige buyers, recording 151 sales during the second half of 2011, with the median sales price rising 18% to $1.22 million.
Looking at Sydney, Wilson says most prestige suburbs in the top 20 recorded price falls over the six-month period.
Among those to suffer big price falls were Palm Beach, where the median price fell 26%, and Mosman, where prices fell 10%.
Looking ahead, Wilson expects a slow recovery at best for the prestige market.
“One of the positive things has been the stock market, which has been building solid base with incremental increases.
“It’s a key signal for prestige market, but there is a long way to go.
“We won’t see aspirational buyers until the third or fourth quarter, and we won’t see the kinds of prices we have seen in the past.”
Photo by <a href="https://98octanephotography.com/" target="_blank">98Octane Photograhy</a>, courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>.
 
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Number of million-dollar Melbourne suburbs falls to 17: APM 

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The growing pipeline of new apartment projects in Brisbane will be met by a rebounding appetite for rental accommodation close to the city, according to economic analysts and forecasters BIS Shrapnel. 
In its Inner Brisbane Apartments 2011 to 2018 report BIS Shrapnel forecasts about 1,500 apartments to be completed in 2012 – more than double the 700 or so completed in 2011. 
Completion will fall again in 2013 (though still above 2011 levels) but then rise again in 2014 and 2015 to a peak of 2,500 apartments, according to BIS Shrapnel.
Click to enlarge
<a href="/images/stories/bismarch2.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/bismarch2thumb.gif"></a>
High-profile inner-city Brisbane projects include Lend Lease’s redevelopment of the RNA showgrounds to accommodate a resident population of 10,000 people and a workforce of 8,000 people, <a target="_blank" href="https://www.propertyobserver.com.au/developments/alex-perry-development-and-others-all-the-fashion-in-fortitude-valley/2011091551568">Alex Perry’s designer apartment building on Ann Street</a> (131 apartments) being developed by the Chrome Property Group and Metro Property Development’s 14-storey <a target="_parent" href="https://www.propertyobserver.com.au/developments/buyers-snap-up-20-of-fortitude-valley-s-brooklyn-offerings/2011101351911">Brooklyn complex on Brookes Street </a>(191 apartments), a joint project with Indian-based Pearls Australiasia.
According to BIS Shrapnel rising tenant demand will be underpinned by growing employment in the Brisbane CBD and CBD fringe areas as the Queensland economy begins to strengthen from its recent troughs. 
Report author Angie Zigomanis says that recent high vacancy rates in inner Brisbane were due to a collapse in rental demand between 2008 and 2010 following the GFC, rather than a result of any excess building. 
“Tenant demand was so weak that it was unable to even absorb new apartment completions that had fallen to 15-year lows,” says Zigomanis. “As a result, vacancy rates in inner Brisbane rose significantly, increasing to well above the balanced market rate of 3% in 2009 and 2010.” 
But Zigomanis says the weak environment has created a “level of latent demand from potential tenants who would have otherwise been in the rental market and have delayed their move until they are more positive about their employment prospects, and consequently their ability to meet their rental payments”. 
BIS Shrapnel says tenant demand in the inner-Brisbane apartment market is driven by two major groups: young (under 40 years old) white-collar employees working in the Brisbane CBD or CBD fringe areas, and students, who are predominantly from overseas. 
And while growth in overseas student numbers is still expected to remain limited due to the high dollar, white-collar employment in central Brisbane is poised to recover quickly as jobs are created to support the rising investment in coal seam gas projects in regional Queensland. 
“Together with the release of latent demand from those who have been sitting out of the rental market, this will drive a strengthening in tenant demand,” he says. 
Zigomanis says due to a combination easier financing for developers and developers making alternative finance arrangements, an increasing number of projects now in the development pipeline are proceeding through to commencement and will result in an increase in new apartment supply. 
However, many are not expected to translate into to new supply until 2013-14. 
“Up to then, the rising tenant demand will cause the rental market in inner Brisbane to tighten considerably,” he says. 
“The tightening vacancy rates will drive acceleration in rental growth for apartments, which in turn will result in improved yields and a strengthening in off-the-plan purchaser demand. 
“Price growth will also follow as investors subsequently enter the market in greater numbers, particularly once there is evidence that the Brisbane residential market has bottomed out. 
“The increase in off-the-plan sales will drive further increases in new apartment supply, although it will be beyond 2013-14 before new supply will have an impact on vacancy rates,” he says. 
“Nevertheless, due to the double-digit percentage rises in both rents and prices leading into the GFC, the outlook for rental and price growth over the next few years will be more moderate, with both rising in line with income growth – that is, in the mid-single digits per annum range on average.” 
A <a target="_blank" href="https://www.propertyobserver.com.au/residential/inner-brisbane-apartment-market-risks-oversupply-report/2012022653047">recent report by valuation firm LandMark White</a> warned that a combination of too many projects and historically low demand could result in oversupply of new apartments in inner-city Brisbane suburbs like Fortitude Valley and Bowen Hills. 
The latest figures from the Real Estate Institute of Queensland for the December 2011 show that rental vacancies in inner Brisbane increased from 1.4% in the September 2011 quarter to 1.9% in the December 2011 quarter, while the overall city vacancy rate remained unchanged at 2.3%
 
 
 
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Tenant demand to meet surge in inner-Brisbane apartment completions: BIS Shrapnel

<html><body>
AFG mortgage brokers broke in-house records in February, processing a 7,000 loans with a cumulative value $2.8 billion.
This was a 40% increase on the 5,365 loans totalling $2 billion processed in January 2011 and 28% higher than the $2.2 billion processed in February 2010.
The numbers are fairly astonishing given that mortgage lending grew by just 0.5% in January, according to official RBA figures, with annual growth at just over 5%, the <a target="_blank" href="/news">lowest figure in the 35 years of record keeping by the RBA</a>.
In a month when lenders decoupled from the RBA cash rate, announcing out-of-cycle rate rises, more new borrowers than ever before – 23.2% –chose fixed-rate loans, surpassing the previous high of 20.4% for fixed-rate loans recorded in October last year and triple the February 2011 fixed-rate percentage of 6.6%.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/afgmarch1.gif"><img src="/images/stories/afgmarch1thumb.gif"></a>
In another first for AFG, the average new home loan in Australia reached $400,000 – up from $385,000 in January and $382,000 in February 2011.
Across the nation, NSW had the highest average new home loan – $471,000, followed by WA at $421,000 and Victoria at $409,000.
“The dynamics of the home loan market are changing in a number of ways. The very good news is that the past six months has seen a steady stream of First Home Buyers return, which is vital to the future of property markets,” says Mark Hewitt, general manager of sales and operations at AFG.
“As well as this, increasing competition among major and non-major lenders, and the decoupling of lender rate announcements from the RBA is making the mortgage market a more complex place.
“This is an environment in which brokers thrive, because borrowers know they really need to shop around for the best deal, and increasingly rely on us to do so. Concern about the future of rates is also the reason why record numbers of borrowers are choosing to fix rates."
During February, major lenders’ share of new AFG mortgage lending dropped from 79% to 76.1%.
Most of this change was because of an increasing trend among first home buyers to opt for non-major lenders – up from 27.4% in January to 29.1% in February.
 
 
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AFG mortgage brokers defy gloom with 40% jump in sales

<html><body>
Mortgage lending remains in the doldrums, managing only growth of only 0.5% in January to be up 5.3% over the past year, according to new credit figures released by the RBA. 
The 5.3% annual growth in mortgages is the lowest level since the RBA began keeping records in August 1977. 
Owner-occupier housing credit rose by 0.5% in January to stand 5.7% higher than a year ago (also the lowest since records were kept dating back to January 1991) while investor housing finance lifted 0.4% in January to be up 4.7% over the year (a three-year low). 
The latest figures show that the non-bank sector (including building societies and credit unions) continue to lose ground to the banking sector in mortgage lending despite their best efforts to encourage borrowers to consider switching to an alternative smaller lender. 
The cumulative non-bank mortgage book shrunk by $500 million over January, from $156.6 billion to $156.1 billion. 
In comparison, the banking sector increased its cumulative mortgage book by $4.1 billion fr0m $1.682 trillion to $1.686 trillion, with the major banks accounting for $1.361 trillion (81%). 
The RBA figures show that personal credit fell by 0.2% over the month to be down 1.3% over the year just, close to the biggest decline in over two years. 
Business credit also fell by 0.2% in January after a 0.3% rise in December. Business credit is 1.4% higher than a year ago.
 
 
 
 
 
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Mortgage growth at lowest level in 35 years: RBA

<html><body>
Approvals for the construction of new homes in Victoria in January fell 25% year-on-year, according to new ABS figures.
On a seasonally adjusted basis there were just 2,348 approvals in Victoria in January 2012, compared with 3,138 in January 2011.
There were also small falls in private sector house approvals in New South Wales and WA.
Queensland was the strongest state for private sector house approvals, recording a 31% increase month-on-month.
Nationally, building approvals for both houses and units – a forward indicator of demand for new housing – continued to trend downward despite a big jump in NSW apartment approvals and a small improvement in January.
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/hiamarch1.gif"><img src="/images/stories/hiamarch1thumb.gif"></a>
In the month of January 2012 total seasonally adjusted building approvals increased by 0.9% to 11,729, with approvals for new house construction remaining flat at 0.1%  (7,508 houses) and approvals for units and other non-detached housing rising 1.5% (4,024 units).
Total seasonally adjusted building approvals increased by 7% in South Australia in January 2012, and in trend terms approvals rose by 2.6% in the Northern Territory.
In January this year total seasonally adjusted building approvals fell by 2.7% in Victoria, 22.1% in Queensland, 0.3% in Western Australia and 2.9% in Tasmania.
The trend number of building approvals fell by 13.9% in the Australian Capital Territory.
Despite the monthly improvement, overall approvals are down a cumulative 14.6% on figures a year ago with detached house approvals down 7.4% for the year and the more volatile apartments market down 23.3%.
The bright spot in the figures was NSW, with approvals rising 37.6% over the month led by a massive 90% jump in approvals in the more volatile apartments market.
Excluding NSW, HIA economist Harley Dale says approvals fell by nearly 9% in January.
“Housing has a large reach into the wider domestic economy in terms of both output and employment and urgent attention is required to turn the new residential building sector around,” he says.
“The profile for building approvals in late 2011/early 2012 continues to imply a level of housing starts comparable to the very weak levels endured around the GFC. It’s hard to call that a bright update for the domestic economy,” says Dale.
“Australia’s interest rate settings are too high and there needs to be immediate government focus on policy reform to boost flagging levels of new housing supply.”
CBA economist James McIntyre says the January building approval figures add to the “do-nothing” case for the RBA.
“It is too early to see the impacts from last year’s cuts.  They are yet to filter through.  At the same time, the data does not show any material weakening, which would be required to get the RBA to move off the sidelines,” he says.
“Our current expectation is that the RBA will cut rates once more in the second quarter of 2012.”
 
 
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Building approvals down in January, led by 25% fall in Victoria: HIA 

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The new RP Data-Rismark Daily Home Value Index will be the first set of indices to provide “real-time daily home value indices”, says RP Data CEO Graham Mirabito.
The first edition of the daily index (March 1) is out today and shows gains for Sydney, Melbourne and Brisbane:
<img src="/images/stories/rpindexmarch11.jpg">
Launched in conjunction with the Australian Securities Exchange (ASX) as future tradeable index, it is also offers investors and buyers the world's first home value indices that track asset-class stock.
“For the past three years RP Data and Rismark have had a major research and development project underway to produce accurate daily housing market value indices,” Mirabito says.
“Our new 'hedonic imputation' methodology is an improvement on the previous flagship 'adjacent period hedonic' measurement and has been designed to be a tradable index.”
Mirabito says the primary benefits of the improved index methodology are:
<ul>
<li>Timely updated daily just one day in arrears </li>
<li>Not compositionally biased by different buyer segments that are active or inactive </li>
<li>All dwellings are included in the measurement not just those that have transacted </li>
<li>Non revisionary providing greater certainty about actual market conditions </li>
<li>Independently audited by both EWS (headed by Dr Alex Frino who also heads Capital Markets CRC and is a professor of finance at the University of Sydney) and KPMG (process) </li>
<li>Designed to be tradable tracks a true portfolio of properties. </li>
</ul>
The daily updates of the index values will be featured on both the RP Data website as well as at the <a href="https://www.asx.com.au/propertyindices" target="_blank">Australian Securities Exchange</a>.
Brian Goodman, ASX’s product development manager, said in a statement the index would give an important window into the residential market, which makes up a big portion of the average household’s assets.
He also said it would help the ASX develop exchange-traded products, which would allow investors to replicate the return and broad performance characteristics of the Australian residential property market.
“The RP Data-Rismark Daily Home Value indices overcome a number of the shortfalls present in existing property indices and in so doing support ASX’s longer term product development objectives,” Goodman said.
“To develop the daily indices there has been significant investments in new data collection which we have leveraged specifically for our property and finance industry customers. Following the indices launch we will be providing new data and analytics on a weekly basis for property and mortgage market activity that will deliver near real time business intelligence at the local level,” Mirabito says.
The index will not be tradeable until it has passed regulatory hurdles. 
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Forget the landlord-tenant gripes: Stand by for a tradeable property ASX futures index

<html><body>
Sydney contractor Ganellen will start negotiations with clients, subcontractors and workers to take over 15 projects worth $50 million that were being managed by collapsed construction firm Kell &amp; Rigby.
Current Kell &amp; Rigby projects include Scots College in Sydney, facilities for Elgas and Sealy, and the new Apple store in Brisbane. 
<a href="https://www.propertyobserver.com.au/industry-news/construction-company-kell-rigby-stops-work-as-financial-talks-collapse/2012021053329" target="_blank">Kell &amp; Rigby collapsed last month</a> owing staff and creditors around $37.5 million.
News of the likely take-over of the Kell &amp; Rigby projects comes as the Construction, Forestry, Mining and Energy Union said that Reed Construction was also at risk of collapse, owing between $60?million and $80 million to more than 1,500 subcontractors.
The union warned its collapse would have a “devastating” impact on the construction industry in NSW.
Reed is working a number of major NSW projects including highway upgrades and the Law Courts building in Sydney.
Reed is currently in talks with NSW Finance Minister Greg Pearce after it advised that it was “facing financial difficulties”.
Ganellen’s current projects include apartments for Lend Lease, substations for Endeavour Energy and the Westmead Hospital car park for the NSW government.
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Ganellen to take on Kell & Rigby projects as Reed Construction also faces difficulties

<html><body>
Median house prices: February 29, 2012
 
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="307">
Sydney
</td>
<td valign="top" width="307">
$516,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Melbourne
</td>
<td valign="top" width="307">
$500,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Brisbane and Gold Coast
</td>
<td valign="top" width="307">
$435,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Adelaide
</td>
<td valign="top" width="307">
$390,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Perth
</td>
<td valign="top" width="307">
$460,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Australia 5 capital cities
</td>
<td valign="top" width="307">
$450,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Hobart
</td>
<td valign="top" width="307">
$340,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Darwin 
</td>
<td valign="top" width="307">
$487,500
</td>
</tr>
<tr>
<td valign="top" width="307">
Canberra
</td>
<td valign="top" width="307">
$555,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Brisbane
</td>
<td valign="top" width="307">
$430,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Australia 8 capital cities
</td>
<td valign="top" width="307">
$455,000
</td>
</tr>
</tbody></table>
Source: RP Data
 
Median unit prices: February 29, 2012
 
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="307">
Sydney
</td>
<td valign="top" width="307">
$435,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Melbourne
</td>
<td valign="top" width="307">
$416,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Brisbane and Gold Coast
</td>
<td valign="top" width="307">
$355,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Adelaide
</td>
<td valign="top" width="307">
$320,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Perth
</td>
<td valign="top" width="307">
$390,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Australia 5 capital cities
</td>
<td valign="top" width="307">
$390,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Hobart
</td>
<td valign="top" width="307">
$260,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Darwin 
</td>
<td valign="top" width="307">
$380,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Canberra
</td>
<td valign="top" width="307">
$430,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Brisbane
</td>
<td valign="top" width="307">
$360,000
</td>
</tr>
<tr>
<td valign="top" width="307">
Australia 8 capital cities
</td>
<td valign="top" width="307">
$395,000
</td>
</tr>
</tbody></table>
Source: RP Data
 
 
 
</body></html>

Capital city house and unit prices: RP Data-Rismark

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.

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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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