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It could be called a loophole or a simple stuff up, but it has been discovered that public housing tenancies in heritage properties are exempt from the Residential Tenancies Act 2010, except for Part 7.
The Brown Couch – the tenants union of NSW blog – revealed the revelation, which sees more than 500 properties affected, and named it a 'stuff up'.
Landlords who own certain types of heritage properties are also exempt from the Act, as are the NSW Land and Housing Corporation.
Tenants and landlords in heritage properties cannot use the residential tenancy act as a point of reference, and dispute resolution for tenants would go under a Consumers Claims Act through the Consumer, Trader and Tenancy Tribunal.
Housing NSW’s proceedings for termination would have to go through the local court or Supreme Court under the Landlord and Tenant Act 1899.
Tenants still have legal rights and obligations however, under the lease signed with Housing NSW.
Affected properties:
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· Approximately 200 premises in Millers Point and Dawes Point (being premises listed on the State Heritage Register as items of State heritage significance under the Sydney LEP 2012);
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· Approximately 89 premises in Woolloomooloo (being items of local heritage significance under the Sydney LEP 2012)
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· Approximately 89 premises in Waterloo (being items of local heritage significance under the Sydney LEP 2012);
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· Approximately 39 premises in Pyrmont (being items of local heritage significance under the Sydney LEP 2012);
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· Approximately 36 premises in Glebe (being items of local heritage significance under the Sydney LEP 2012);
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· Approximately 31 premises in South Granville (being items of local heritage significance under the Parramatta LEP 2011);
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· Approximately 13 premises in Darlinghurst (being items of local heritage significance under the Sydney LEP 2012);
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· Approximately 12 premises in Surry Hills (being items of local heritage significance under the Sydney LEP 2012);
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· Approximately three premises in North Sydney (being items of local heritage significance under the North Sydney LEP 2001);
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· Premises in the Strickland Buildings, Chippendale (being an item of local heritage significance under the Sydney LEP 2012);
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· Premises in the Alexandra Terraces, Camperdown (being an item of local heritage significance under the Sydney LEP 2012);
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· Premises in the former Salvation Army College, Petersham (being an item of local heritage significance under the Marrickville LEP 2011)
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Community housing tenancies are not affected, nor are public housing tenancies in properties that are part of a heritage conservation area on a local heritage register are not affected.
 If you have any concerns or queries about the exemption, please contact <a href="https://mail.privatemedia.com.au/owa/redir.aspx?C=TyAnEZwTQk-uHuB83LQUJ7NxGIFPw9AIDvA1kwG9WNRctgNs_FsR_sGmEn_L9zW35C5e2Go-Q-Y.&amp;URL=http%3a%2f%2fwww.tenants.org.au%2fneed-advice">your local Tenants Advice and Advocacy Service</a>.
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ntrotman-Et3xWpamVh

Residential Tenancies Act stuff up excludes public housing tenants in heritage properties

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Public housing rules are set to tighten and new rules will be introduced in a bid to avoid properties sitting vacant for up to a year while tenants went on vacation or served a prison term.
Housing Minister Tim Mander says rules under the old government allowed tenants to take holidays of up to 12 months without putting their tenancies at risk.
“These houses are there to house the most vulnerable members of society - they’re no good to anyone sitting there empty.
“This Government promised to revitalise frontline services, something that’s particularly important when we’re dealing with families on low or modest incomes,” says Mander.
Mander says there are more than 21,000 households on the social housing waiting list.
New rules to be introduced include capping holidays at four weeks and anything longer than this will require tenants to seek departmental approval.
Longer absence will be allowed for those who are away due to legitimate work or study commitments or are undergoing an extended stay in hospital.
Tighter rules also mean family and friends of an absent tenant will no longer be able to stay in the property rent-free.
“There are still too many households on the waiting list so it’s vital that our resources go where they’re needed, rather than being squandered where they’re not,” says Mander.
Last financial year alone public housing tenants took 285 breaks of between three to 12 months and were absent from their taxpayer subsidised homes for an average of 171 days.
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Public housing rules to tighten to avoid dormant properties

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In a follow up to yesterday's <a target="_blank" href="/news">article</a>, a Port Melbourne gem trumped both top sales mentioned by RP Data and sold for $5.175 million.
RP says the sale was not included on their list as they were not 100% sure of the sale price.
The four-bedroom, four-bathroom home passed in at its November 30 auction at $5.025 million, after four bidders tackled it out.
The property sold immediately after auction.
Set over four levels, the home boasts an earthy façade of timber, copper and zinc designed by SJB Architects.
The home features polished concrete floors on the ground level, a home cinema, feature staircase, lift and Gaggenau appliances.
The master bedroom’s bathroom boasts twin showers, marble topped basins and an Italian bath.
The rooftop levels acts as a viewing platform over Melbourne and the bay and includes a pool, sauna, outdoor shower and Delonghi sushi barbeque.
Also featured is a suspended private viewing platform.
The 222-square-metre lot, with plans and permits, was purchased in 2006 or $1.6 million.
The home was listed with Robin Parker and Sam Hobbs of <a href="https://www.25beachstreet-portmelbourne.com/" target="_blank">Marshall White</a>.
ntrotman@propertyobserver.com.au
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Port Melbourne gem Melbourne's most expensive sale

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Developer Ho Bee Australia’s strong reputation in Asia will aid in the sales of apartments in their $120 million Surfers Paradise tower, which will be the first high rise development to grace the Surfers Paradise skyline in five years.
The $120 million unnamed 41-storey apartment tower will be located between central Surfers Paradise and Main Beach, and will sit adjacent to the Surfers Paradise North light rail station.
<img alt="Ho-Bee-Surfers-Paradise-site-aerial-one" height="237" width="470" src="/images/stories/2013/12/04/Ho-Bee-Surfers-Paradise-site-aerial-one.jpg">
Site works are currently underway; with the last development to commence construction in the precinct being the Hilton Towers in 2009.
<img alt="Ho-Bee-Surfers-Paradise-site-aerial-two" height="276" width="470" src="/images/stories/2013/12/04/Ho-Bee-Surfers-Paradise-site-aerial-two.jpg">
Sales and marketing agent Deborah Provost says the Gold Coast is facing a critical shortage of new apartment stock.
“This product will go some way in filling that impending void,” says Provost.
“I have been dealing extensively with local, interstate and overseas buyers who are primed to make their next property play on the Gold Coast.
“They are encouraged by the dwindling supply of new apartments here and increasing property values sparked by burgeoning activity in the southern capital markets, but their options here are becoming limited in the traditional beach strip precinct between Broadbeach and Surfers Paradise.
“Currently, the majority of new apartment stock in projects like Hilton and Soul is priced above $1 million and to an extent that has polarised some prospective investors.
“Locally, we will be marketing the project to end-users and lifestyle buyers who know the area and its attributes well.
“Asian investors also have a penchant for beachfront apartments and we will be tapping into this market with targeted investor product,” says Provost.
<img alt="Ho-Bee-tower---artists-impression-cropped-one" height="459" width="470" src="/images/stories/2013/12/04/Ho-Bee-tower---artists-impression-cropped-one.jpg">
Barry Lee of DBI Design says the tower will be of international standard.
“The developers are capitalising on the strengthening local market, lack of new beachside apartment stock available or planned, and improving property market conditions across the country.
“This project is a symbolic step forward for our city.
“Its design will make a sophisticated and meaningful contribution to our city’s spectacular skyline, while delivering new levels of innovation in sustainability and community,” says Lee.
Lee says the tower will be the first project in Gold Coast’s new cycle.
The tower is anticipated to launch in the first quarter of 2014, at which time the name will be revealed.
<a target="_blank" href="mailto:ntrotman@propertyobserver.com.au">ntrotman@propertyobserver.com.au</a>
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Overseas investors to tap into Surfers Paradise's first highrise in five years

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It was a difference of just $50,000 between this week’s top two most expensive sales, with a Bellevue Hill trophy home taking out first place for $4.875 million, according to RP Data.
Located on Ranfurley Road, the classic meets rustic home (pictured below) features four bedrooms, three limestone bathrooms with heated floors and European oak floors throughout.
{yoogallery src=[images/stories/2013/12/03/bell]}
The property boasts multiple living areas, opening to a deck with a built in barbeque and saltwater pool.
Built in 1985, the 582-square-metre property underwent renovation in 2010.
It last traded in January this year for $4 million and $4.3 million in September 2009.
Elliott Placks and Ashley Bierman of <a href="https://www.raywhite.com/nsw/bellevue-hill/1044401/" target="_blank">Ray White Double Bay</a> secured the sale at its November 28 auction.
Down south in Melbourne, a six-bedroom home in South Yarra took out second place, selling after auction for $4.825 million.
Situated on 705 square metres, the four-bathroom trophy home (pictured below) was built in 1940.
{yoogallery src=[images/stories/2013/12/03/south]}
It last traded in 2004 for $2.58 million.
There were two registered bidders at its November 30 auction and a crowd of around 30, according to James Buyers Advocates.
The property was passed in at $4.725 million, but secured a sale after auction.
Jock Langley of <a href="https://www.abercrombys.com.au/buying_search_results_detail.aspx?OID=6285829&amp;Sold=1&amp;GID=520&amp;tp=520SearchResults&amp;Sub=South+Yarra%2c&amp;Order=suburb&amp;Con=S" target="_blank">Abercromby’s</a> listed the home.
The weekend's most expensive sales, according to RP Data:
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/5_ranfurley_road_bellevue_hill_nsw_2023/1370399" target="_blank">5 Ranfurley Road, Bellevue Hill, NSW, 2023,</a> four-bedroom house, sold on November 28 by Ray White Double Bay for $4.875 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/17_alexandra_avenue_south_yarra_vic_3141/13126384" target="_blank">17 Alexandra Avenue, South Yarra, VIC, 3141,</a> six-bedroom house, sold at auction on November 30 by Abercromby's Real Estate for $4.825 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/4_burrabirra_avenue_vaucluse_nsw_2030/7137474" target="_blank">4 Burrabirra Avenue, Vaucluse, NSW, 2030,</a> four-bedroom house, sold on November 29 by Ray White Double Bay for $4.25 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/48_jersey_road_paddington_nsw_2021/5269550" target="_blank">48 Jersey Road, Paddington, NSW, 2021,</a> four-bedroom house, sold at auction on November 30 by One Agency Ingram Property for $3.7 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/17_burran_avenue_mosman_nsw_2088/4480129" target="_blank">17 Burran Avenue, Mosman, NSW, 2088,</a> four-bedroom house, sold on November 28 by Ray White Lower North Shore for $3.4 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/7_sargood_street_toorak_vic_3142/13588587" target="_blank">7 Sargood Street, Toorak, VIC, 3142,</a> three-bedroom house, sold at auction on November 30 by Marshall White Armadale for $3.285 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/103_beattie_street_balmain_nsw_2041/1251207" target="_blank">103 Beattie Street, Balmain, NSW, 2041,</a> four-bedroom house, sold at auction on November 30 by McGrath Estate Agents for $3.16 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/24_bungan_head_road_newport_nsw_2106/14201971" target="_blank">24 Bungan Head Road, Newport, NSW, 2106,</a> four-bedroom house, sold prior to auction on November 30 by Belle Property Manly for $3.05 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/10_koowong_avenue_mosman_nsw_2088/4487722" target="_blank">10 Koowong Avenue, Mosman, NSW, 2088,</a> four-bedroom house, sold on November 27 by Raine &amp; Horne Mosman for $3 million
<a href="https://www.propertyobserver.com.au/https://www.myrp.com.au/property/58_hardy_street_dover_heights_nsw_2030/2120716" target="_blank">58 Hardy Street, Dover Heights, NSW, 2030,</a> four-bedroom house, sold at auction on November 28 by Raine &amp; Horne Double Bay for $2.96 million.
The weekend's chepaest sales are on the next page. Please click below.
 
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Heading over to the cheapest on the list, a three-bedroom unit in Seaford was Melbourne’s most affordable sale over the past weekend, according to Australian Property Monitors.
Located at <a href="https://www.realestate.com.au/property-unit-vic-seaford-115359419" target="_blank">2/7 Hadley Street</a>, the unit (pictured below) sold for $247,500 through James Crowder Community Real Estate – Mount Eliza.
{yoogallery src=[images/stories/2013/12/03/sea2]}
It was listed for sale with a price guide of “$260,000 to $290,000”.
Prior to this sale, it last sold in 1992 for $85,000, according to RP Data records.
The property listing also stated that it was selling “under instructions from state trustees”.
Listing agent John Young told Property Observer that the auction was attended by eight people, with two registered bidders.
He added that the successful bidder was an investor.
When asked about the eventual selling price, he said: “We got pretty close to the reserve price, we had two bidders, and when that finished we moved on.”
Young noted that the unit was located in an “industrial area”, which “put a lot of people off”.
“Generally in Seaford, they’re all selling well for those by the beach. This was just one particular unit,” he said.
According to Young, the unit should rent for $280 per week after the owners “touch it up”.
With an estimated asking rent of $280 per week, the price reflects a 5.88% yield.
According to the <a href="/news">latest RP Data report</a>, the median sale price for units in Seaford is $335,500, up 4.8% on last year. The average discount required to sell a unit is 6.9%, while private treaty sales average 92 days on market.
The median asking rent for units in Seaford is $290, while gross rental yield currently stands at 4.5%.
Other three-bedroom properties for sale in Seaford include <a href="https://www.realestate.com.au/property-house-vic-seaford-115542043" target="_blank">45 Centenary Street</a> (pictured below), which has been listed for sale at "$385,000+".
{yoogallery src=[images/stories/2013/12/03/sea1]}
It last sold in 2012 for $320,000, according to RP Data records. It also sold in 2003 for $215,500, in 1997 for $90,500, in September 1988 for $90,500 as well, and in June 1988 for $85,500, according to RP Data records.
The house was also listed for rent in 2009 at an asking price of $260 per week, according to RP Data records.
<a href="mailto:ntrotman@propertyosbserver.com.au" target="_blank">ntrotman@propertyosbserver.com.au</a>
<a href="mailto:dleow@propertyobserver.com.au" target="_blank">dleow@propertyobserver.com.au</a>
 
 
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South Yarra and Bellevue Hill neck and neck for weekend's most expensive sales: RP Data

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Residents in south-east Queensland’s Springfield are now connected to the south-east Queensland network, with the rail line opening on Sunday.
Transport and main roads minister Scott Emerson says Sunday was a major coming of age milestone for Springfield, with work on the rail component officially complete.
“Springfield residents now have a fast and integrated rail connection to the south east Queensland network, and it will go a long way toward relieving traffic congestion on major arterial roads.
“This new line and the frequency of operation delivers on our election promise to revitalise frontline services,” says Emerson.
Services will run every six to 12 minutes in the morning peak and every 12 minutes in afternoon peak.
“There’ll be plenty of services on the weekend as well, with consistent 30-minute departures on Saturdays; and services every hour from 7am and every 30 minutes from around 10am to 10.30pm on Sundays,” says Emerson.
The minister says the labor government failed to plan properly for the parking needs of passengers, therefore the Newman government – in partnership with the Ipswitch council - will deliver 400 additional spaces at Springfield central early next year.
Springfield Central currently has 100 park’n’ride spaces available.
“Thanks to the help of Mirvac we have also delivered an interim parking solution for commuters at Springfield Central, by installing a 300-space temporary car park opposite Orion shopping centre available in the next couple of weeks.
“Springfield station is situated a short walk from the route 522 bus stop on Woodcrest Way and the new interchange will be serviced by routes 522, 526 and 534.
“Work on the 5.5 kilometre road component of the project is still underway and includes the duplication of the Centenary Highway between the Logan Motorway Interchange and Springfield Parkway.
“These road upgrades are scheduled for completion early next year,” says Emerson.
<a href="mailto:ntrotman@propertyobserver.com.au" target="_blank">ntrotman@propertyobserver.com.au</a>
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Springfield commuters linked with south-east Queensland network

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A limited number of land lots in the masterplan development The Fields will be released to the public via an auction on December 10.
Located in Schofields, the 14 residential land lots range in size from 351 square metres to 474 square metres and have a starting price of $320,000.
“There is robust demand for land lots within the local area and this release represents an affordable opportunity to step into a market which offers a new level of living in an area which is undergoing substantial growth,” says Laing+Simmons Hurtsville managing director Matthew Matthews.
“Typically land in this area is sold by a ballot system which is based on ‘first in best dressed’. However an auction sale allows buyers to compete for land on an even playing field,” says Matthews.
Schofields in a 465-hectare precinct which has the capacity for approximately 2,950 new dwellings and 8,000 residents, 45 kilmoetres from the Sydney CBD.
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Schofields land lots in latest development to be released via auction

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The latest development in Ryde to be released to the public is Meriton’s Evoke apartments, securing 30 apartment sales in the first week.
Located on Porter Street, Evoke will comprise of 278 apartments across four buildings, up to seven storeys in height.
With designs by Architectus, Evoke features a modern exterior with stone and metal cladding inspired by the history of the once-industrial site.
Meriton doesn’t have pre-sale requirements to fund the construction, therefore staging sales evenly across the development.
“Staging our sales evenly allows us to cater to market demands throughout the course of construction,” says national sales director James Sialepis.
“Expressions of interest for this development are extremely strong with investors and owner-occupiers keen to capitalise on its central waterside location - Meriton has already sold 30 apartments at ‘Evoke’ from its Sydney head office,” says Sialepis.
One studio-apartment is available for $505,000 and is 36 square metres in size.
One-bedroom apartments range in size from 46 square metres to 60 square metres and start from $585,000.
Two-bedroom apartments range in size from 69 square metres to 100 square metres and start from $725,000.
Three-bedroom apartments range in size from 108 square metres to 117 square metres and start from $895,000.
Apartments will feature stone benchtops, euro appliances, glass splashbacks and soft-closing drawers.
Residents will have access to a 20-metre pool, sauna, spa and gym as well as an onsite childcare centre and 38 bike parks.
Evoke will also feature onsite shops at street level.
Demolition of the site has already begun with a completion date scheduled for mid 2015.
<a href="mailto:ntrotman@propertyobserver.com.au" target="_blank">ntrotman@propertyobserver.com.au</a>
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Meriton launches Evoke in Ryde with design inspired by site's industrial heritage

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Construction has started on the $120 million Belise development in Bowen Hills, with Lord Mayor Graham Quirk turning the sod last week.
Located on the corner of St Pauls Terrace and Brookes Street, Belise will comprise of 228 apartments across 21 levels.
Having launched in October 2010, the development had a <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/developments/more-than-half-of-fortitude-valley-s-new-stock-yet-to-find-buyers/2012012953162" target="_blank">slow start</a> to the market but has since secured 150 apartment sales, with 37 snapped up between July and September this year.
A joint venture between Group Kildey and Reed Property Group, Belise has been designed by Architects Australia and features a fitness centre, outdoor pool, sundeck, rooftop lounge and ground floor dining.
Remaining one-bedroom apartments are priced from $369,000 and two-bedroom apartments are priced from $474,000.
Michael Wilkins managing director of Acuity Property Solutions says Belise has received interest from both local and overseas buyers.
“Interstate investment buyers are also attracted by the value that Belise represents. For example, a one-bedroom apartment plus study at Belise starts from $369,000 while an equivalent apartment in Sydney would start from more than $500,000.
“These features [local amenities] are very attractive to prospective tenants and our research shows that tenants are more likely to choose Belise over other developments on the market for this reason. This is very reassuring to prospective investors,” says Wilkins.
Belise has a total walk score of 90 out of 100 and is located in proximity to the $2.9 billion RNA Showground redevelopment.
“By way of comparison, the average Walk Score for the greater Brisbane area is just 51 out of 100. Belise is a walker’s paradise,” says Australia property expert Michael Matusik.
“Our recent study of Brisbane also found a strong correlation between a suburb’s Walk Score and a property’s investment performance.
“For example, those inner Brisbane suburbs with a Walk Score in excess of 85 out of 100 have seen their apartment stock grow in value by a full 1%more each year when compared to those locations with lower levels of walkability,” says Matusik.
<a href="mailto:ntroman@propertyobserver.com.au" target="_blank">ntroman@propertyobserver.com.au</a>
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A lengthy start sees constructions begin on Brisbane Belise development

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There has been talk in the property sphere that the Melbourne market is running out of steam.
Melbourne has been the star performer in auction listings this spring, however its clearance rate is starting to dwindle, with three consecutive weeks below 70% now, according to RP Data.
Meanwhile, Sydney’s clearance rate is still staying afloat, with 74.9% recorded last week.
In the September quarter, Melbourne house prices grew to a new record, increasing by nearly 9% to $595,500, according to REIV.
With the end of the December quarter not too far away, Property Observer posed the question to industry experts on whether they thought the Melbourne market had plateaued.
Robert Larocca – Victoria housing market specialist with <a href="https://www.rpdata.com/" target="_blank">RP Data</a><img src="/images/stories/2013/11/29/robert-larocca-profile-for-site-2.jpg" width="125" height="150" alt="robert-larocca-profile-for-site-2" style="float: right;">
YES, AFTER A YEAR OF GROWTH THE MELBOURNE MARKET HAS PLATEAUED
Recent evidence suggests that after a year of growth the Melbourne market has plateaued. The RP Data House price index showed growth of 8% in the year to October but that growth slowed in October and in the 4 weeks till last weekend it actually went down by 0.7%.
This is hardly a calamitous but when added to the fact that the clearance rate has been below 70% for each of the last three it suggests the earlier strong growth has slowed or plateaued.
Mitigating this is the strong auction volumes generated by confident vendors. Since the end of winter (and including this coming weekend) there have been just under 13,300 auctions in Melbourne, which is 35% more than the same time last year.
The apparent easing may not be a bad thing if the growth over the last year is more sustainable than previous cycles.
After all the last two upswings in the market, 2007 and 2009-10 were both rapid and followed by price reductions. This cycle is much more moderate and reflects the performance of the overall economy.
The release of the RP Data – Rismark House Price Indices for November on Monday will provide a clear answer about the market over the last month and whether Melbourne has fallen short of a new high in house prices.
 
Enzo Raimondo ­– Chief executive officer of <a href="https://www.reiv.com.au" target="_blank">Real Estate Institute of Victoria</a><img src="/images/stories/2013/11/29/enzo-profile.png" width="125" height="150" alt="enzo-profile" style="float: right;">
WE MUST NOT TAKE THIS SEASONAL SLOW-DOWN AS A PLATEAUING IN THE MARKET
We do not agree that the market has plateaued. A plateau implies that the market is flat. It isn’t– it is still growing in terms of price and volume but it is starting to slow down in some indicators. This is not unusual – the market generally winds down over Christmas and is slow between December through to February. We mustn’t mistake this seasonal slow-down as a plateauing in the market as it is too early to tell.
In terms of price growth, Melbourne’s house price is still growing. The REIV house price index for November indicates that price growth is likely to be below last month’s increase of 2.3% but is still higher than the 0.6% increase this time last year.
In terms of transactions, we estimate that there were over 10,200 sales in Victoria in October which is the highest for the year. November is expected to exceed this figure so the number of transactions is still increasing although there will certainly be a seasonal drop in volumes in December through to February.
The number of auctions is still very high. We are forecasting around 1,500 auctions for the next three weeks. Although clearance rates have been trending down since the beginning of November the total number of sales remains high.
Article continues on the next page. Please click below.
 
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Andrew Wilson - Senior economist for <a href="https://www.apm.com.au" target="_blank">Australian Property Monitors</a>
<img src="/images/stories/2013/10/04/AndrewWilson-profile.jpg" alt="AndrewWilson-profile" style="float: right;" height="150" width="125">CLEARANCE RATES AND PRICE GROWTH ALREADY PEAKED THIS GROWTH CYCLE
The Melbourne housing market will record its best performance over 2013 since the heady days of 2009 and 2010. House prices are set to rise by around 7% over the year with most price ranges and suburban regions contributing to the solid outcome.
This result will be similar to the increases recorded in 2010 when house prices were up by 6.4% but well short of the 17.3% recorded in 2009 and the 21.1% increase of 2007.
Despite a solid result this year the Melbourne median house price is unlikely to exceed its previous price peak recorded in June 2010. And despite strong buyer activity in the prestige market this year that segment will certainly remain well short of its previous price peaks.
The nature of the Melbourne market this year as it has evolved has been as usual clearly signalled by activity levels in the weekend auction market. Auction clearance rate continue to be a reliable forward indicator of buyer activity and prices growth in the wider market and this year was no exception.
The Melbourne weekend auction clearance rate rose from the 60% average over the September quarter last year to average 70% over the September quarter this year. The Melbourne median house price has increased by 7% over the same period.
Recent indications are that buyer activity in the Melbourne housing market may be moderating, weighed under by a deluge of late season auction listings. Last weekend’s clearance rate of 70.3% was the lowest this spring with the monthly trend on the decline.
Record numbers of properties are set to go under the hammer in Melbourne over the final four weekends of the year with around 4,000 homes listed. Vendors will be keen to sell rather than wait until next year after the holiday break, particularly changeover sellers who have already purchased. With growing competition amongst sellers for a diminishing pool of buyers now starting to get the upper hand, auction clearance rates and prices growth have likely peaked in this growth cycle.
 
Angie Zigomanis - Senior manager residential with <a href="https://www.bis.com.au" target="_blank">BIS Shrapnel</a><img src="/images/stories/2013/11/29/Angie-Zigomanis--porfile.jpg" width="125" height="150" alt="Angie-Zigomanis--porfile" style="float: right;">
 THE MARKET SUSPECTED TO FLATTEN OUT IN 2014
Commentary on the Melbourne housing market has centred on strong clearance rates and prices achieved at auction. However, auctions are concentrated in inner and middle Melbourne and not representative of the whole market. Low interest rates have had a larger impact here, where the population primarily works in industries with a relatively positive outlook, while some pent up upgrader demand arguably exists after weak activity in 2011 and 2012. This has driven current demand and given buyers confidence to bid up prices.
In contrast, outer Melbourne has been weaker. Compared to the year-to-June 2013 median house price rise of 7% and 6% in inner and middle Melbourne suburbs respectively, price growth in outer Melbourne was only 4%. Sales volumes have also not recovered to the same extent as in inner and middle Melbourne. As well as ample new housing supply in recent years, interest rate reductions have also had less of an effect, with much of the population in the outer suburbs concentrated in industry sectors that are under pressure, such as retail and manufacturing.
As a result, the recovery in Melbourne has not been broad based, and we suspect that the market will flatten out in 2014. The Victorian economy still faces headwinds, with employment growth likely to remain limited. There is also a substantial pipeline of new apartments in inner and middle Melbourne working their way through to completion. This will impact on vacancy rates, and while not necessarily competing directly with the housing sector, is likely to have flow on effects and reduce some of the impetus from buyers to push up prices—which may already be evident in the easing in auction clearance rates in recent weeks. Nevertheless, prices should not decline, with purchaser buying capacity supported by low interest rates.
 
Who's opinion would you like to hear? Contact <a href="mailto:ntrotman@propertyobserver.com.au" target="_blank">ntrotman@propertyobserver.com.au</a>.
 
 
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EXCLUSIVE: Has the Melbourne market plateaued?

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

Joel Robinson

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

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

Sammut secures approval for debut Brisbane apartment development in Toowong

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

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

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

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

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

Nicola Trotman

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