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Sentiment about the housing market is improving but still favours buyers over sellers.
Four out of five (80%) of the 1,030 people surveyed by RP Data and Nine Rewards about the outlook for the property market over the next six to twelve months, said now is a good time to buy.
This is up from 76% who said it was a good time to buy, when last surveyed six months ago.
Is now a good time to buy a property?
<img alt="rp_data_survey" src="/images/stories/april23tivoli/rp_data_survey.jpg" width="470" height="234">
Source: RP Data/Nine Rewards
Less than two-thirds (63%) of respondents said now was a good time to sell a property, down from 71% who said so six months ago.
“There has been a positive improvement in housing market conditions over the past six months, however the majority of those surveyed are still showing a low level of confidence about selling conditions,” says RP Data national research director Tim Lawless.
“As consumer confidence in housing market conditions rises, we are likely to see a larger number of dwelling sales as the year progresses.
“We have already seen buyer numbers rise from their early 2012 lows, and transactions over the past six months are about 4.3% higher than the same time a year ago,” he says.
The survey found an overall improvement in housing market sentiment with 41% of respondents expecting home values to rise over the next six months compared with just 33% of respondents back in October last year.
However, the majority of respondents (52%) expect the housing market to remain steady over the next half year, which may explain the caution about selling.
Only 7% are expecting dwelling values to fall.
Of those respondents who are expecting home values to rise over the next six months, their expectations of growth generally remain subdued. 86% of these individuals are expecting home values will rise by less than 5% over the next six months.
According to those respondents who think values will fall over the next six months, the largest proportion (38%) are expecting the fall to be less than 2.5% and 75% of respondents think values will fall by less than 5% over the coming half year.
“The May survey results revealed that there was a substantial upward shift in consumer expectations for housing market conditions over the past six months, however, this hasn’t changed a great deal since earlier this year when the February survey results were released.
“Based on the survey results, we’ve seen distinctive differences from region-to-region where as an example, 59% of respondents in Perth expected values to rise over the next six months, and 56% cent of respondents located in Sydney expect values to rise over the next half year.
“In contrast, survey participants in Tasmania delivered a much more sedate reaction with no local respondents expecting values to rise over the next six months,” he says.
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lschlesinger-FZcF9M3vE6

Housing market sentiment improving but still favouring buyers

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The Reserve Bank will leave the cash rate on hold at 2.75% until November, according to JP Morgan chief economist Stephen Walters.
Walters believes the dollar is key to the RBA making its next cash rate cut decision.
In newly published research, he expects the Australian dollar’s return to parity against the US dollar – making it harder for industries like manufacturing, tourism and retail – to be competitive will force the RBA to take the cash rate to a new record low of 2.5%.
As highlighted by other economists, Walters says tomorrow’s official capital expenditure figures will provide insights into the health of the overall Australian economy.
He also anticipates the unemployment rate rising while expecting GDP to be only 2.75% next year, reducing his earlier forecasts of 3.25% economic growth in 2014.
The latest Bloomberg survey has 10 out of 21 economists forecasting a cash rate of 2.5% in the final quarter of 2013 with Westpac’s Bill Evans tipping a cash rate of 2.25% and the remainder anticipating now rate cut this year.
Only two economists – Westpac's Bill Evans and AMP Capital's Shane Oliver – expect a rate cut in June.
Yesterday Citibank cut its <a href="/news">five-year fixed-rate home loan to 5.35%.</a>
These are the current lowest fixed and variable rates (as of May 28):
Lowest variable rate offerings:
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="127" valign="top">
Provider
</td>
<td width="129" valign="top">
Loan name
</td>
<td width="98" valign="top">
Rate
</td>
<td width="116" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="127" valign="top">
State Custodians
</td>
<td width="129" valign="top">
State Custodians Peak Performance Offset Home Loan
</td>
<td width="98" valign="top">
4.74%
</td>
<td width="116" valign="top">
5.11%
</td>
</tr>
<tr>
<td width="127" valign="top">
Loans.com.au
</td>
<td width="129" valign="top">
Blackboard special – purchases only
</td>
<td width="98" valign="top">
4.75%
</td>
<td width="116" valign="top">
4.77%
</td>
</tr>
<tr>
<td width="127" valign="top">
UBank
</td>
<td width="129" valign="top">
UHomeloan – refinance only
</td>
<td width="98" valign="top">
4.87%
</td>
<td width="116" valign="top">
4.87%
</td>
</tr>
</tbody></table>
Lowest one-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="137" valign="top">
Provider
</td>
<td width="123" valign="top">
Loan name
</td>
<td width="95" valign="top">
Rate
</td>
<td width="114" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="137" valign="top">
Greater Building Society
</td>
<td width="123" valign="top">
Ultimate Home Loan Package
</td>
<td width="95" valign="top">
4.74%
</td>
<td width="114" valign="top">
5.51%
</td>
</tr>
<tr>
<td width="137" valign="top">
UBank
</td>
<td width="123" valign="top">
UHomeloan – refinance only
</td>
<td width="95" valign="top">
4.83%
</td>
<td width="114" valign="top">
5.12%
</td>
</tr>
<tr>
<td width="137" valign="top">
iMortgage.com.au
</td>
<td width="123" valign="top">
iMortgage Fusion 75
</td>
<td width="95" valign="top">
4.84%
</td>
<td width="114" valign="top">
5.08%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td width="133" valign="top">
Provider
</td>
<td width="133" valign="top">
Loan name
</td>
<td width="97" valign="top">
Rate
</td>
<td width="108" valign="top">
Comparison rate*
</td>
</tr>
<tr>
<td width="133" valign="top">
iMortgage.com.au
</td>
<td width="133" valign="top">
iMortgage Fusion 75
</td>
<td width="97" valign="top">
4.94%
</td>
<td width="108" valign="top">
5.16%
</td>
</tr>
<tr>
<td width="133" valign="top">
Loans.com.au
</td>
<td width="133" valign="top">
Dream Loan Express Fixed
</td>
<td width="97" valign="top">
4.99%
</td>
<td width="108" valign="top">
4.93%
</td>
</tr>
<tr>
<td width="133" valign="top">
Aussie
</td>
<td width="133" valign="top">
Aussie Select Basic Fixed Rate
</td>
<td width="97" valign="top">
4.99%
</td>
<td width="108" valign="top">
5.22%
</td>
</tr>
</tbody></table>
*A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure.
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Cash rates to remain on hold until November: JP Morgan’s Stephen Walters

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<img alt="littleprojectsbannertwo" height="94" width="470" src="/images/stories/2013/05/littleprojectsbannertwo.jpg">
Little Projects' Michael Fox was responsible for the first multi-level Bunnings in Victoria.
<img style="margin: 5px; float: left;" alt="michaelfox" height="200" width="200" src="/images/stories/2013/05/michaelfox.png">Developer: Michael Fox
Position: Managing Director
Company: Little Projects
Office location: Melbourne
How long have you been in the industry?
23 years. My experience has been in residential property management, residential sales, commercial property management, commercial sales and leasing, corporate real estate and property development.
What’s happening in the area you specialise in?
We are building some great lifestyle developments at the moment. Our <a target="_blank" href="https://www.propertyobserver.com.au/victoria/developer-offers-olive-branch-after-selling-out-south-yarra-development/2013031259839">ILK development (certain to be one of Melbourne’s most iconic developments)</a> is about to finish. We are well and truly underway with our building of the Tip Top development in East Brunswick and about to start building our latest creation CENTRAL in South Yarra.
Describe the most interesting property you have sold/leased/developed/managed:
I was responsible for the first multi-level Bunnings in Victoria in Burwood Road, Hawthorn. It was a sensational development and still is today. A whole new concept, a whole new view on rentals and how to make big box retail work in an inner city location. I’m pretty sure it still holds the record for yield of a Bunnings store. 6.25% sold off the plan.
What are the ingredients to being successful in your job?
You have to have a great team. At Little we have just that. It’s about the team. It’s not a one person show. We have sensational people and it’s great to place to work. We like to think we create great lifestyle developments. Our buildings are sensational and are in great locations.
What aspects of your role do you enjoy the most?
I love property because it’s a complete lifestyle job. It gets you out on the road and out of the office. I have seen the world with my property jobs over the years and it just keeps going. This month I will go to Malaysia, Hong Kong, Singapore and China.  I also love the feeling you get when someone says “I live in your building” – it’s just the best.
Where would you invest a spare $750,000?
Our one bedroom apartments in Port Melbourne all returning around 5% which is just sensational and most were leased before the owners settled. South Yarra will be the same. So I’d buy a one-bedroom apartment in South Yarra and a one-bedroom in Port Melbourne.
Which football team do you support?
I’m a Hawthorn man.
What’s your favourite app or techno gadget?
It’s bit of a contradiction but I have been using ebay and Gumtree a lot lately to buy parts for my Moke which has no gadgets whatsoever!! Not even a radio or a heater.
How do you use social media?
I’d say getting better. Slow to start but learning as I see that it’s an increasingly important part of marketing. I have 3 daughters and a pretty handy PA and Marketing team. Between them I learn slowly. We have nearly 1000 Facebook fans and we will shortly start on Instagram.
Connect with Michael on Twitter: @Mfox_Little
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In profile: Little Projects managing director Michael Fox

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Macquarie Group, which has one of the fastest growing home loan books and a wholesale funding deal with Yellow Brick Road, has a 4% delinquency rate on home loans securitised through its PUMA program, according to Moody's.
This is more than double the overall mortgage arrears rate of <a href="/news">1.66% for borrowers more than 30 days behind on mortgage repayments</a>.
The chart below shows Macquarie's delinquency rate has been rising since around September 2011.
Arrears rates are modest by comparison at AMP, HSBC, ING and other banks.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/05/moodysmay28two.gif" rel="shadowbox"><img src="/images/stories/2013/05/moodysmay28twothumb.gif"></a>
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Macquarie mortgage delinquencies surge to 4% of securitised loan book: Moody's

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Melbourne house values fell by 1.14% over April to a median value of $556,500 to be up 2.05% over the quarter, according to the latest figures from property market analysts Residex.
RP Data-Rismark also had Melbourne house prices down over April, but by a smaller 0.5%. 
Meanwhile, constrained by a lack of affordability, Sydney recorded the steepest fall in its median house value in April of all the major capital cities and regions, according to Residex.
Sydney house values fell 1.42% over April to a median of $684,000.
Over the quarter Sydney house values are virtually unchanged at 0.84%. They are up 3.23% over the past 12 months.
The decline in Sydney house prices went against the overall trend of an 0.83% rise in house values over April to a median of $437,000 with Residex forecasting a "moderate" rise in housing values over the coming months off low interest rates.
Residex has house values up 2.07% over the quarter and 2.8% over the past year.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/05/residexmay28one.gif" title="Click to enlarge"><img src="/images/stories/2013/05/residexmay28onethumb.gif"></a>
RP Data-Rismark recorded a 0.6% decline in house values over April with its <a target="_blank" href="https://www.propertyobserver.com.au/residential/autumn-blues-as-dwelling-values-dip-again-in-may-rpdata-timlawless/2013052661671">daily index pointing to a 1% decline over May.</a>
According to RP Data-Rismark, Sydney house prices fell 0.4% over April.
Residex CEO John Edwards says Sydney's unaffordability makes it “overly sensitive to changing economic conditions” resulting in negative growth in April.
According to Residex affordability figures, Sydney home borrowers are left with just $880 in left over cash each week once the home loan is paid off (assuming a variable home loan rate of 5.4%, 25 year loan term pa, average family tax rate of 17.5% and a 20% deposit).
The other capital city market to record a decline was Canberra, with house values down 1.12% over April to a median value of $519,500, down 0.56% over the quarter, according to Residex.
RP Data-Rismark had Canberra house prices down 0.6% over April.
 
<hr class="system-pagebreak">
The positive effects of the mining boom continued to be felt in Perth and Darwin, according to Residex.
Perth house values lifted 1.37% over April to be up a healthy 4.5% over the past three months with a median value of $503,000.
Darwin house values rose 2.41% over April and are up 3.78% over the quarter with a median house value of $550,000.
Over the past 12 months to April 2013, Darwin house values are up 12.41%, the only capital city property market to record double-digit growth annual growth. Darwin’s ten year average growth rate is 10.49%.
Brisbane house values rose 1.42% in April to a median of $437,500 while Adelaide and Hobart values were unchanged.
In the more volatile unit market, Perth was the standout over April with a 2.62% gain to a median value of $448,000.
Over the past year, Perth unit values are up 11.46% with rents rising over 14% over the past year from $390 to $445 and annual sales up 24.57% compared with the corresponding period, according to Residex.
There were also strong gains recorded in Adelaide’s unit market (2.12%) and some growth in Brisbane’s unit market (1.3%).
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/05/residexmay28two.gif" title="Click to enlarge"><img src="/images/stories/2013/05/residexmay28twothumb.gif"></a>
"Overall, the Australian housing market is improving," says Edwards.
"While I don’t favour considering houses and units as one segment because they have very different return attributes, it is usefully to combine them to simply get a general indication of the direction the market is heading.
"The median value of all dwellings in Australia is approx $425,000, which is around its peak value achieved in January 2011.
"In the last 3 months dwelling prices increased by about 1% while they increased by approximately 1.7% in the last 12 months. Clearly, the majority of advances in the market have taken place in the last three months. Sales activity remains low but it is improving. It is now close to the level achieved in December 1999.
"Overall, the recent interest rate reduction will help ensure the advance in housing values that are currently being seen continues, albeit at a moderate level.
"Rental yields across the nation are rising and will continue to do so as fewer people venture into home ownership and renting becomes more the norm. 
"The only exception to this is Canberra where there is a stock oversupply. There must also be some uncertainty here towards the employment level given the pending Federal Election and the likely outcome of a change in government," he says.
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Melbourne median house price at $556,500 as April sees slight decrease in home values: Residex

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The amount of sublease space available in Sydney's CBD reached 73,872 square metres in April, the highest in two-and-a-half years, as financial services firms downsized their operations.
'Consolidation' or 'contraction' were the primary reasons for subleasing space with finance and insurance firms accounting for nearly 40,000 square metres of available sublease space followed by property and business services (around 10,000 square metres) and government tenants (10,000 square metres)
More than half the sublease space available (52%), is situated in the city core.
The increase in sub-lease space is highlighted in CBRE’s latest Sublease Barometer, which tracks both the volume of sublease space and the trends occurring within different industry groups and market sectors in the Sydney CBD.
This upward trend is expected to negatively impact the city’s overall office vacancy rate in 2013, currently at 6.5% according to Morgan Stanley.
Examples of available sublease space include more than third of the space at<a target="_blank" href="https://www.realcommercial.com.au/property-offices-nsw-sydney-500690839"> Investa's  20 storey 347 Kent Street</a> building, the headquarters of ING Australia. It features 27,000s square metre of space, of which more than 9,000 square metres is available to sublease across eight levels. Sublease spaces range from 500 square metres to 1,4000 square metres with rents of between $500 to $600 per square metre excluding GST.
Other tenants subleasing space include Perpetual, State Street and ANZ Bank, which is relocating to its new headquarters at the $800 million 161 Castlereagh Street tower being completed by Grocon.
The decision by firms to downsize has meant that much larger sublease tenancies are being made available, with the barometer showing that tenancies greater than 1,000 square metres account for 70% of all options.
<img height="196" width="470" src="/images/stories/2013/05/cbremay28one.jpg" alt="cbremay28one">
The report shows that there are currently six options available at present of greater than 2,000 square metres which combined account for 38,000 square metres of sublease space.
The last time the sublease volume was higher was in November 2009, when the quantum of sublease stock was close to 90,000 square metres.
The CBRE barometer shows that the level of sublease stock dropped considerably throughout 2010 and 2011 but has been tracking higher since late last year and over April the volume of sub lease stock increased by a further 1.52%.
In December 2011, available sublease space was under 40,000 square metres.
CBRE office services director Jenine Cranston attributes the increase in sublease space in recent months to financial service tenants shedding more space in further rounds of downsizing.  
“The consolidation of financial tenants continues to have a strong influence on the sublease market and is contributing to the increase in the number of larger sublease tenancies,” she says. 
“The finance and insurance sector presently accounts for around half of both the number of sublease opportunities and the quantum of floor space available, with property and business services also accounting for a high proportion of stock compared to other industry sectors.” 
Cranston says one alleviating factor for owners was that the majority of sublease options did not have quality, useable fitouts in place – something that a growing number of cost conscious tenants were requiring. 
“This said, the increase in sublease stock has undoubtedly put an upward pressure on incentives across the city. During the year we expect to see a number of sublease opportunities converted into direct space if it remains in the market. However, if this upward momentum in sublease space continues, this may negatively impact overall vacancy in 2013," she says.
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Sydney CBD sublease space hits 74,000 square metres as finance firms downsize: CBRE

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A two-level CBD shop and dwelling at 597 Elizabeth Street has sold at auction for $1.03 million.
The ground floor space is leased for six years to popular Indian food tenant Classic Curry.
It brings in annual income of $53,547 plus GST reflecting an indicative yield of around 5.2%.
Chris Kombi and Mitchell Humphreys handled the campaign.
Located within the Queen Victoria Market precinct, the property is zoned mixed use and has a building area of around 150 square metres, encompassing the ground floor restaurant and a first floor studio apartment.
Classic Curry operates a second restaurant in Sunshine.
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Melbourne curry house and upstairs studio apartment sells for $1.03 million

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The InterContinental Hotel Group (IHG) has plans to build up to 40 Holiday Inn Expresses across Australia over the next 10 years with construction of its first Holiday Inn Express in Perth soon to begin.
The London-based hotel group, which operates nine other hotel brands including InterContinental and Crowne Plaza, manages over 2,000 Holiday Inn Express hotels globally.
‘We are looking at second and third tier cities for future Holiday Inn Express location rather than build four and five star hotels,” Phil Kasselis, head of development in Australasia for IHG, tells Property Observer.
The group will consider developing future Holiday Inn Express hotels in Newcastle, Wollongong, Geelong as well as in locations in the capital cities where the government is looking to develop new hotels.
The <a href="https://www.propertyobserver.com.au/leisure/perth-to-get-first-holiday-inn-express-as-city-occupancy-rate-hits-85/2013032760099" target="_blank">224 room Perth Holiday Inn Express</a> to be built at 257 Adelaide Terrace, overlooking the Swan River, is due for completion in 2015.
Site works are due to commence in the third quarter of the year in partnership with Perth-based developer Sunfire Asset.
Holiday Inn Expresses are targeted at “savvy business and leisure travellers” within the “limited service mid-market” sector with IHG opening on average two new Holiday Inn Express hotels ever week around the world.
IHG typically partners with investors to build or develop new hotels, and operates them as managers or under a franchise agreement.
In Australia, IHG tends to manage its own hotels, but is looking at implementing a franchising model.
Investors typically include institutional investors and high-net-worth individuals.
“We describe our typical [Holiday Inn Express] guests as Everyday Heroes – they are independent, self-sufficient and they believe in working hard so they can enjoy life,” says the Holiday Inn Express investor brochure.
The chain is promoted with the tagline “Everything you need. Nothing you don’t” as well as through a series of very funny “Stay Smart” television commercials, including this one featuring a white rapper.
{qtube vid:= ZlCLuIwuVgQ}
As part of its expansion plans, IHG has conducted research to identify "emerging traveller identities", which it says will shape the next decade of tourism.
It has identified four types of travellers: 
<ul>
<li>New global explorers from emerging markets, such as China, India, Indonesia, Egypt and Vietnam, who want to follow well-trodden paths and visit the must-see sights of well-known destinations.</li>
<li>Laptop and latte workers – a new breed of business traveller – are young and accustomed to not having set hours or location for work, and are therefore happy to share spaces and mix business with play.</li>
<li>New family groups from both developed and emerging markets, representing the changing face of the traditional family unit, from single person households to multi-generational families booking entire hotel floors.</li>
<li>Expansive mid-lifers are older travellers – the fastest growing and most affluent age group in the world – but don’t want to be defined purely by their age, as they seek out new experiences while demanding services and amenities that suit their needs.</li>
</ul>
Kasselis says hotels need to cater for the current and future needs of customers including obvious things like providing Wi-Fi, but also less obvious region-specific ones like interconnectable rooms in its Middle Eastern hotels to cater for larger family groups.
“Travellers expect hotels to deliver certain things, rather than be surprised by them,” he says.
He says the Australian hotel market has somewhat lagged other first-world markets but is starting to catch up.
He says it is appealing to offshore investors because of its transparency, the ease of doing business and proximity to Asia.
In addition, many investors know the Australian market through personal experience or because their children have studied in Australia.
“There is new money coming into the market from the Middle East and from sovereign wealth funds,” he says.
IHG generates more than $3 billion in sales every year from its half a million hotel rooms.
In Australia, IHG has partnered with hotel developer Jerry Schwartz to develop the Crowne Plaza hotels in the Hunter Valley and Newcastle as well as with Eureka Funds Management on other projects.
Recent projects include transforming the Clarion Hotel in Parramatta into the Holiday Inn Parramatta.
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IHG plans up to 40 Holiday Inn Expresses in Australia as it targets time-poor tech-savvy travellers

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Apartment prices in the Sunshine Coast surfing town of Peregian Beach crashed on the shore after soaring in 2012.
Renowned for its unspoilt beaches, deep-fried Mars bars and laid-back lifestyle, Peregian Beach – situated between Noosa Heads and Coolum Beach – was the top performing unit market in the $501,000 to $700,000 price bracket as highlighted by Smart Property Investment magazine a year ago.
RP data records a 39% gain in median unit prices in Peregian Beach over the 12 months to February 2012 to $516,000.
However, unit prices fell sharply in the following 12 months with RP Data recording a 33% decline in median prices to $345,000 to February 2013.
Recent sales in Peregian Beach include a <a href="https://www.homehound.com.au/unit+2+244+david+low+way+peregian+beach+qld+4573/21780978/" target="_blank">two-bedroom townhouse on David Low Way</a> (pictured below) acquired by Brisbane-based property investment advisors Parker Property Investments for $480,000.
<img alt="peregianmay29one" height="347" width="470" src="/images/stories/2013/05/peregianmay29one.jpg">
It last sold for $585,000 in 2003, an 18% drop.
The property was listed for nearly two-years with initial price of $595,000 with the vendor presumably deciding to accept a more realistic valuation of their investment after being unable to find a buyer.
The sale was negotiated by Ted Schimke of LJ Hooker Peregian Beach.
His colleague Paul Flanagan negotiated the sale of a <a href="https://www.realestate.com.au/property-unit-qld-peregian+beach-110660457" target="_blank">two-bedroom unit on Peregian Esplanade</a> (pictured below) directly across from the beach in February this year for $337,500. It had been listed for nearly eight months with an initial asking price of $379,000.
<img alt="peregianmay29two" height="332" width="470" src="/images/stories/2013/05/peregianmay29two.jpg">
The Peregian Beach correction extended to the nearby suburb of Peregian Springs, where median unit prices fell 21% to a median of $315,000 in the year to February 2013 following a 48% gain in 2012.
The top three performing suburbs at the upper end of the market, all underwent corrections in the year to February 2013 following strong rises in the previous 12 months.
Median prices fell 16% in the leafy Boroondara suburb of Canterbury, 10 kilometres east of the Melbourne CBD, reversing the 17% gains made in 2012 with a median price of $730,000.
There were also significant corrections in North Fremantle (-12%) and Lavender Bay (-11%), the harbourside suburb on the lower North Shore of Sydney.
In total there were significant price corrections in eight out of the 15 hot spot locations, while four markets were flat and just two made noteworthy gains - West Leederville, just three kilometres north of the Perth CBD (a 42% gain followed by an 8% gain) and Windaroo in Logan City (33% followed by 31%).
However, Windaroo appears to be an anomaly with 2011 census data showing just three units out of nearly 900 dwellings in the suburb.
This the full list of the top 15 performers in the year to February 2012 and how they fared in the year to February 2013. Whilst listed as the top performers, they were not necessarily recommended by RP Data or SPI Magazine as property investment hotspots for 2013.
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td width="73" valign="top">
State
</td>
<td width="123" valign="top">
suburb
</td>
<td width="66" valign="top">
Annual sales to Feb 13
</td>
<td width="78" valign="top">
Median price Feb 2012
</td>
<td width="95" valign="top">
Median price Feb 2013
</td>
<td width="90" valign="top">
Median 12mth growth to Feb 2012
</td>
<td width="90" valign="top">
Median 12mth growth to Feb 2013
</td>
</tr>
<tr>
<td colspan="7" width="616" valign="top">
BEST PERFORMING SUBURBS $700,001 plus
</td>
</tr>
<tr>
<td width="73" valign="top">
WA
</td>
<td width="123" valign="top">
<a href="/news">North Fremantle</a>
</td>
<td width="66" valign="top">
70
</td>
<td width="78" valign="top">
$1.13 m
</td>
<td width="95" valign="top">
$777,500
</td>
<td width="90" valign="top">
49%
</td>
<td width="90" valign="top">
-12%
</td>
</tr>
<tr>
<td width="73" valign="top">
NSW
</td>
<td width="123" valign="top">
<a href="/news">Lavender Bay</a>
</td>
<td width="66" valign="top">
25
</td>
<td width="78" valign="top">
$740,000
</td>
<td width="95" valign="top">
$629,000
</td>
<td width="90" valign="top">
24%
</td>
<td width="90" valign="top">
-11%
</td>
</tr>
<tr>
<td width="73" valign="top">
VIC
</td>
<td width="123" valign="top">
<a href="/news">Canterbury</a>
</td>
<td width="66" valign="top">
28
</td>
<td width="78" valign="top">
$730,000
</td>
<td width="95" valign="top">
$614,500
</td>
<td width="90" valign="top">
17%
</td>
<td width="90" valign="top">
-16%
</td>
</tr>
<tr>
<td colspan="7" width="616" valign="top">
BEST PERFORMING SUBURBS $500,001 - $700,000
</td>
</tr>
<tr>
<td width="73" valign="top">
QLD
</td>
<td width="123" valign="top">
<a href="/news">Peregian Beach</a>
</td>
<td width="66" valign="top">
33
</td>
<td width="78" valign="top">
$516,000
</td>
<td width="95" valign="top">
$345,000
</td>
<td width="90" valign="top">
39%
</td>
<td width="90" valign="top">
-33%
</td>
</tr>
<tr>
<td width="73" valign="top">
WA
</td>
<td width="123" valign="top">
<a href="/news">Kensington</a>
</td>
<td width="66" valign="top">
18
</td>
<td width="78" valign="top">
$535,000
</td>
<td width="95" valign="top">
$436,250
</td>
<td width="90" valign="top">
36%
</td>
<td width="90" valign="top">
-18%
</td>
</tr>
<tr>
<td width="73" valign="top">
SA
</td>
<td width="123" valign="top">
<a href="/news">Henley Beach</a>
</td>
<td width="66" valign="top">
58
</td>
<td width="78" valign="top">
$572,500
</td>
<td width="95" valign="top">
$575,000
</td>
<td width="90" valign="top">
34%
</td>
<td width="90" valign="top">
0%
</td>
</tr>
<tr>
<td colspan="7" width="616" valign="top">
BEST PERFORMING SUBURBS $400,001 - $500,000
</td>
</tr>
<tr>
<td width="73" valign="top">
WA
</td>
<td width="123" valign="top">
<a href="/news">West Leederville</a>
</td>
<td width="66" valign="top">
35
</td>
<td width="78" valign="top">
$482,500
</td>
<td width="95" valign="top">
$522,000
</td>
<td width="90" valign="top">
42%
</td>
<td width="90" valign="top">
+8%
</td>
</tr>
<tr>
<td width="73" valign="top">
QLD
</td>
<td width="123" valign="top">
<a href="/news">Windaroo</a>
</td>
<td width="66" valign="top">
14
</td>
<td width="78" valign="top">
$480,000
</td>
<td width="95" valign="top">
$550,000
</td>
<td width="90" valign="top">
33%
</td>
<td width="90" valign="top">
+31%
</td>
</tr>
<tr>
<td width="73" valign="top">
QLD
</td>
<td width="123" valign="top">
<a href="/news">Geebung</a>
</td>
<td width="66" valign="top">
22*
</td>
<td width="78" valign="top">
$470,000
</td>
<td width="95" valign="top">
$405,000*
</td>
<td width="90" valign="top">
33%
</td>
<td width="90" valign="top">
-20.7%*
</td>
</tr>
<tr>
<td colspan="7" width="616" valign="top">
BEST PERFORMING SUBURBS $300,001 - $400,000
</td>
</tr>
<tr>
<td width="73" valign="top">
QLD
</td>
<td width="123" valign="top">
<a href="/news">Peregian Springs</a>
</td>
<td width="66" valign="top">
64
</td>
<td width="78" valign="top">
$391,950
</td>
<td width="95" valign="top">
 
</td>
<td width="90" valign="top">
48%
</td>
<td width="90" valign="top">
-21%
</td>
</tr>
<tr>
<td width="73" valign="top">
QLD
</td>
<td width="123" valign="top">
<a href="/news">Kunda Park</a>
</td>
<td width="66" valign="top">
19
</td>
<td width="78" valign="top">
$353,750
</td>
<td width="95" valign="top">
$308,000
</td>
<td width="90" valign="top">
47%
</td>
<td width="90" valign="top">
-13%
</td>
</tr>
<tr>
<td width="73" valign="top">
QLD
</td>
<td width="123" valign="top">
<a href="/news">Hillcrest</a>
</td>
<td width="66" valign="top">
36
</td>
<td width="78" valign="top">
$333,000
</td>
<td width="95" valign="top">
$331,750
</td>
<td width="90" valign="top">
43%
</td>
<td width="90" valign="top">
0%
</td>
</tr>
<tr>
<td colspan="7" width="616" valign="top">
BEST PERFORMING SUBURBS UNDER $300,000
</td>
</tr>
<tr>
<td width="73" valign="top">
NSW
</td>
<td width="123" valign="top">
<a href="/news">South Tamworth</a>
</td>
<td width="66" valign="top">
15
</td>
<td width="78" valign="top">
$165,000
</td>
<td width="95" valign="top">
$166,500
</td>
<td width="90" valign="top">
28%
</td>
<td width="90" valign="top">
+1%
</td>
</tr>
<tr>
<td width="73" valign="top">
SA
</td>
<td width="123" valign="top">
<a href="/news">Port Lincoln</a>
</td>
<td width="66" valign="top">
64
</td>
<td width="78" valign="top">
$220,000
</td>
<td width="95" valign="top">
$217,250
</td>
<td width="90" valign="top">
27%
</td>
<td width="90" valign="top">
-1%
</td>
</tr>
<tr>
<td width="73" valign="top">
TAS
</td>
<td width="123" valign="top">
<a href="/news">Trevallyn</a>
</td>
<td width="66" valign="top">
20
</td>
<td width="78" valign="top">
$290,000
</td>
<td width="95" valign="top">
$182,250
</td>
<td width="90" valign="top">
26%
</td>
<td width="90" valign="top">
-31%
</td>
</tr>
</tbody></table>
*based on 2012 calendar year data
Source: RP Data/SPI Magazine
</body></html>

Property waves dump Noosa surf spot Peregian Beach as unit hotspots fail to fire

<html><body>
Non-bank lenders have the highest mortgage arrears rates compared with their deposit-taking banking rivals, Moody's mortgage delinquency figures show.
The graph below represents 30 days plus mortgage delinquency rates for major bank, regional bank, other banks (credit unions, building societies) and non-authorised deposit taking institutions (non-banks) based on securitised lending only.
It shows the wide gap between non-bank lenders and banks, though mortgage arrears rates are rising across all lender types, in line with a small overall rise in mortgage delinquencies in March to 1.66%.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/05/moodysmay28one.gif" title="Click to enlarge"><img src="/images/stories/2013/05/moodysmay28onethumb.gif"></a>
</body></html>

Non-banks have highest mortgage arrears: Moody's

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

<main data-perf-region="main">
Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Larry Schlesinger

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