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RBA Governor Philip Lowe has given a clear message that interest rates have bottomed, implying the central bank won’t be cutting the overnight cash rate anytime soon, according to CBA chief economist Craig James.
At his first speech of the year during the A50 Australian Economic Forum, Governor Lowe said the “bank's central scenario is for some pick-up in economic growth and for inflation to move gradually higher”.  
The RBA is tipping economic growth of 3 per cent over 2017 and 2018. 
On inflation, he said that while it remains low, running at around 11⁄2 per cent in both headline and underlying terms, inflation is not expected to fall further. 
“Instead, our central forecast is for underlying inflation to gradually rise over the next couple of years,” he said. 
Clearly, that signals the bank is not in a hurry to cut rates, says James.
The Governor was also asked about the Aussie dollar, and based on the answer reported by the <a href="https://www.afr.com/news/economy/monetary-policy/donald-trump-might-even-be-good-news-says-rbas-philip-lowe-20170209-gu9iw6" target="_blank">Financial Review</a>, he also seems happy with current levels. 
"At the moment we think it'll deliver (economic growth of) 3 per cent, which is pretty good. While ever that's the case it's hard to say the exchange rate is fundamentally too high. At the moment I struggle to say the configuration that we have is leading to growth outcomes that are unsatisfactory." 
He also spoke of mixed conditions in the housing and job markets and the challenge in keeping high household debt under control. The Governor also said the RBA was closely monitoring the housing market and household balance sheets. 
He said, “the picture varies widely across the country. Prices for houses in Sydney and Melbourne are rising strongly, but apartment prices in some cities, including Perth and Brisbane have fallen. The population is growing strongly, but there is a large number of additional dwellings to come onto the overall market this year”. 
“Growth in rents is weak, but vacancy rates in most markets are not unusually high. And investor demand looks to have strengthened in the closing months of 2016. So it is a complex picture.”
While saying that high household debts are a risk, he was positive about the tightening of lending standards by banks over the past couple of years.
While upbeat on Australia and Australia’s prospects, the RBA Governor highlighted challenges including lifting productivity growth, greater engagement with Asia, lifting spending on infrastructure and keeping public finances in good shape.
On the unwinding of the mining boom, encouragingly the Governor said “we are already around 90 per cent of the way through the fall from the peak to expected trough in mining investment”. 
His near-term outlook was positive, according to James, though he did say the GDP fall in the September quarter was a surprise, but the economy was expected to have returned to growth in the December quarter.
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CBA economist Craig James says RBA has given clear message rates have bottomed

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Crowdfunding company DomaCom (ASX:DCL) has got regulatory approval to “deal in securities” and has also entered into an agreement with a US crowdfund that will expand the range of investment options for its clients.
The Australian Securities &amp; Investments Commission has given approval to DomaCom to vary its Australian Financial Services Licence that would allow it to launch mortgage bond sub-funds and allow for investment loans in the DomaCom property portfolio.
Chief executive Arthur Naoumidis said the “varied AFS Licence will allow us to offer peer-to-peer mortgage bond sub-funds and a fractional investment model for corporate bonds with work well under way to issue a new Product Disclosure Statement (PDS) to support these new products”.
They will offer a yield of 3.54% over the RBA cash rate with the security of a first registered mortgage and a loan-to value ratio(LVR) of less than 50 per cent.
Mortgage bonds will usually have a fixed term of five years and the current expected return of 5.04% with the security of a first registered mortgage and low LVR is expected to be attractive to the SMSF market, it said.
“What DomaCom can achieve with mortgage and corporate bond products is to offer investors the opportunity to lock in yields that are more attractive than bank deposits, use the fractional model to allow them to invest with a minimum amount, and to have potential liquidity of trading using our liquidity facility,” said Naoumidis.
DomaCom has funded 39 property acquisitions — mainly residential — which it claims to be the largest number of book-builds by any crowdfunder in Australia.
Meanwhile, the company announced this week it has signed an exclusive distribution agreement with Prodigy Network, a leading real estate crowdfunding platform in the United States that has raised more than $410 million of equity from the crowd for their portfolio of assets, valued at US$750 million. 
The agreement will pave the way for Australian investors and advisors to invest in prime commercial real estate assets located in Manhattan. 
Naoumidis said the agreement would open up more overseas property crowdfunding opportunities for Australian investors.  
“Whilst crowdfunding is still a relatively new phenomenon in Australia it is gaining significant ground overseas. There are over 125 such businesses globally with the 2015 transactions estimated to be around US$2.5 billion up from only US$20 million 4 years ago,” he said. 
“Enormous buying power exists in our large industry and retail superannuation funds and our growing A$600 billion self-managed superannuation fund (SMSF) market. There are vast sums of money sitting there some of which must be looking for an opportunity to invest in global real estate markets”.
Prodigy Network formally initiated its track record in January 2016, by providing 23% yearly after tax returns to the investors that participated in a 95 unit extended stay property called AKA United Nations, located at 234 E 46th Street. This was the first crowd funded project in the history of New York. 
Their success is explained by two main factors: 1) they both co-develop and co-invest in the deals they present to investors, 2) they have access to an extensive network of US and international mid-sized investors (capital raised from 26 US States and 29 different countries).
The investment platform and developer currently focuses primarily on investments in high-end collaborative workspaces and extended stay hotel developments in Manhattan.
 “We think partnering with DomaCom makes a lot of sense given their strong reputation and scalable distribution network in APAC” said Leonard Chinchay, VP of client relations at Prodigy Network. 
The deal was arranged by Tara Hill Capital in Sydney and Alpine Capital Advisors in New York.
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DomaCom gets ASIC approval for mortgage bonds, enters into deal with US firm

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Loans.com.au said it will keep up its focus on the investor market despite recent moves by the Commonwealth Bank and its subsidiary Bankwest clamping down on refinancing by investors.
Marie Mortimer, managing director, said borrowers who are turned away by BankWest or CBA "should come to us instead because we have much lower rates and we still want their business.”
She said <a href="https://loans.com.au/" target="_blank">loans.com.au</a> had maintained its focus on the market through its investor package which cut rates for investors who brought over both their home loan and investment loan.
“We want people with both a home loan and an investment property loan to come to us so we are offering a market-leading rate on their investment loan to encourage that,” she said. 
The online lender has packages starting from 3.59 percent, compared to most banks’ investor loan rate of 4 percent or more.
Mortimer said BankWest’s move may be the next phase of a retreat from investment lending by the banks.
Bankwest said earlier in the week it will no longer accept applications from new customers seeking to refinance their stand-alone investment lending from other financial institutions.
BankWest said the move would impact a very small number of applications and existing customers would not be affected. 
A BankWest spokesperson was cited by Mortgage Business as saying, “Bankwest continues to assess investment lending applications from current and prospective customers who meet relevant criteria within risk appetite,” they said.
“This aligns with Bankwest’s commitment to supporting a stable national housing market and sustainable economy in line with regulatory guidance.”
Commonwealth Bank, Australia’s largest bank, followed Bankwest in halting applications for new refinancing for investor loans, in a move that could see other lenders in the industry follow.
In a notice to mortgage brokers, CommBank said they are “committed to consistently delivering the best customer experience for home buyers, upholding the highest level of professional standards, and meeting our responsible lending and regulatory obligations,” according to a story published in news.com.au.
Home Loan Experts’ managing director Otto Dargan was cited as saying the Commonwealth Bank had to act to meet the  Australian Prudential and Regulation Authority’s 10 per cent cap on growth in investment lending.
“If they are too far below it (the 10 per cent cap) then they are losing market share,’’ he said.
“If they go over it then APRA will require them to set aside more capital which is very costly for the bank.”
He said CBA had “missed the mark” and had to take immediate action to reduce its investment lending.
Investment home loans represent 35 percent of CBA’s mortgage lending.
Mortimer of loans.com.au added that, “In recent months, a number of lenders have raised their rates or tightened their lending criteria in this space because of fears that they are over-exposed to investors.” 
“But we are excited about the prospects for the investment market and working as always to build long-term relationships with new property investors.”
During the month of December, lending to property investors across Australia grew at 0.8 percent, or at a 10.1 percent annualised rate, she said.
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Loans.com.au woos investors amid CBA-Bankwest moves to shun refinancing

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The Novotel Melbourne Glen Waverley, one of Melbourne’s best performing hotels, has exchanged hands for a cool $73.6 million.
The four-star hotel at <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-glen+waverley-502104650" target="_blank">285 Springvale Road, Glen Waverley, Vic 3150</a> went to the market in September 2016 through an expressions of interest campaign managed by Colliers International.
The hotel comprises 200 upscale rooms, a bar and restaurant, meeting space, gym, indoor pool and parking for nearly 100 cars. 
It is currently leased to leading hotel operator Accor Asia Pacific under a triple net lease expiring in July 2018.
Situated within the Glen Waverley Activity Centre and surrounded by the retail precincts of the Glen Shopping Centre, Century City Walk and Kingsway, the hotel benefits from the broad base of accommodation drivers within the City of Monash. 
Although the deal value was not disclosed, the Australian Financial Review had reported that the transaction was worth $73,666,666.66. The buyer is investment manager iProsperity, which handles Asian investment and the number is considered lucky by Asian investors.
The selling agents were Gus Moors, Guy Wells and Neil Scanlan of Colliers.
“The Novotel Melbourne Glen Waverley is widely regarded as one of Melbourne’s strongest performing metropolitan hotels due to its ability to capitalise on the broad-based activity within the City of Monash, which is the second largest employment region in Melbourne, after the CBD,” Moors said at the time the hotel was up for sale.
 
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Novotel Glen Waverley sells for $73.6 million

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An award-winning restaurant/function centre set on more than 6.88 ha in Olinda, Victoria has sold for $2.5 million through Ray White after a price reduction.
Olinda Tea House, Wedding, Conference Centre and Flower Farm at <a href="https://www.realcommercial.com.au/property-hotel+leisure-vic-olinda-502134650" target="_blank">86 Olinda Monbulk Road, Olinda, Vic 3788</a> is one of the most iconic venues across the Dandenong Ranges, according to the property’s description.
The property's features include a restaurant/function centre with clear-span dining area, commercial kitchen, guest/staff amenities and office facilities.
Designed by Smith + Tracey Architects this eco-friendly and award winning building is oriented to maximize north solar access and views down the valley. Solar panels run along the rooftop for energy efficiency.
Other features include a four-bedroom residence with its own private driveway and gardens. Around an hour's drive from the CBD in one of Victoria's premier tourist precincts.
The flower farm is leased. 
The property was listed in September 2015 for $3.6 million and spent 523 days on the market, according to RP Data.
<div title="Paul Waterhouse">The selling agents were Paul Waterhouse and Stefanie Taylor.</div>
 
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Olinda Tea House sells for $2.5 million

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More than 300,000 home loan customers have little or no equity in their homes, because they either failed to keep up with mortgage repayments or values in their area have fallen, new research by Roy Morgan has found.
Equity in this context is the difference between the value of your property and how much you owe on it.
In the 12 months to October 2016, it was revealed that 6.9% (302,000) of Australian mortgage holders had little or no real equity in their home, says a post on the website of Roy Morgan Research. The figure has improved just a little from around the same time in 2015, when around 345,000 home loan customers had no equity. 
This is based on the fact that the value of their home is only equal to or less than the amount they still owe, placing them at considerable risk if they have to sell or prices decline. 
Roy Morgan communications director Norman Morris said, “this represents a considerable risk to these households and their banks, particularly if home values fall or households are hit by unemployment”. 
“With some early signs that home loan rates are rising, the problem is likely to worsen as repayments increase and home values may decline, which has the potential to lower equity levels even further.”
<a href="https://www.propertyobserver.com.au/images/2017/02/02/Feb3Equity1.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/02/Feb3Equity1.png" alt="">
Morris added that there were several reasons that some borrowers were not gaining equity in their homes despite a generally strong property market. These include being in areas with declining values, apartments in Sydney and Melbourne losing value, borrowing more than the real value of the property, falling behind in mortgage payments, and increased borrowing for renovations that haven’t been reflected in increased property values.
The analysis was based on the Roy Morgan Single Source survey of more than 100,000 interviews over the last two years. 
Over the last 12 months, Roy Morgan said it interviewed more than 10,000 owner-occupied mortgage holders.
Western Australia had the largest proportion of such homeowners, with 10.4 percent of mortgage holders, or 54,000, having little or no equity in their home, the highest in Australia and 2.1% points higher than the same period in 2015. 
“The slowdown in WA’s mining sector is seeing the highest proportion of mortgage holders faced with little or no equity in their homes, and this position has deteriorated further over the last twelve months,” said Morris.
South Australia also recorded an increase in proportion over the last 12 months, up by 1.8 percent points to 8% (27,000), according to the analysis.
Among the states and two largest cities included in this analysis, Sydney had the lowest proportion of mortgage holders with little or no equity in their home: just 3.9 percent (33,000), down 1.1 percent points in the last year. 
“This improvement is due to home prices increasing faster than in most other areas of Australia and outpacing the growth in the average amount owing on mortgages,” Roy Morgan’s research said. 
<a href="https://www.propertyobserver.com.au/images/2017/02/02/Feb3Equity2.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/02/02/Feb3Equity2.png" alt="">
Tasmania was the second-best performer with 4.7 percent (5,000) of mortgage holders facing equity risk, followed by NSW with 5.1 percent (73,000), Victoria with 6.0 percent (65,000), Melbourne with 6.1 percent (50,000) and Queensland with 7.2 percent (63,000).
The research also observed that mortgage gearing or risk was lowest in Sydney (28.9 percent) and Melbourne (32.4 percent), mainly because of the rapid rise in property values.
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300,000 mortgage holders have no equity in their homes: Roy Morgan

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Pemulwuy, a western Sydney suburb named after an Aboriginal warrior, is a high second on the list of suburbs predicted to grow most in the next eight years by a research report.
The <a href="https://www.residex.com.au/top-100-predictions-report?utm_source=blog.residex.com.au&amp;utm_medium=article-link&amp;utm_campaign=kd-160117">Residex Predictions Report</a> ranks the top 109 suburbs where predicted capital growth is forecast to be between an average of 4.0 percent and 11.1 percent per annum over the next five years, and between an average of 5.1 percent and 8.4 percent per annum over the next eight years.
The report is a valuable starting point for property investors researching where to buy next.
House values in Pemulwuy (postcode 2145) are expected to provide an average of 8.34 percent growth per year over the next eight years, according to the report. It ranks behind Gordon in the ACT where house values are predicted to grow by an average of 8.4% per year till 2025.
Tim Lawless, CoreLogic’s Asia Pacific research director said the suburbs listed in the report are the ones that we would expect to perform well in future years based purely upon the statistical patterns that the Residex algorithm has identified in their historical growth rates.
“Residex’s predictive model doesn’t allow for new developments, changing demographic patterns, improved infrastructure or any other such factors and these can have a substantial impact on the capital gain prospects across a suburb or town,” he said.
The December report is the first <a href="https://www.residex.com.au/top-100-predictions-report?utm_source=blog.residex.com.au&amp;utm_medium=article-link&amp;utm_campaign=kd-160117" target="_blank">Predictions Report</a> compiled by Residex since the business was purchased by CoreLogic in 2016, and uses the combined data resources of the two businesses.
The data is drawn from median values using the CoreLogic automated valuation model, rather than median sales prices. This is an important distinction as it takes into account the value of all properties within the suburb, not just those that have transacted across the period. This makes it a more reliable and stable indicator of values across the region.
The median value of houses in Pemulwuy was $914,000 as at October 2016, with an annual average growth of 8.22 percent, according to CoreLogic data.
Around the median price, some of the houses recently sold or on the market were:
A four-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-pemulwuy-124063734" target="_blank">7 Cummings Avenue, Pemulwuy,</a> (below) NSW 2145, which is on the market with a price guide of $899,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/17/ResidexPemulbuy1.jpg" alt="">
Another four-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-pemulwuy-123775782" target="_blank">23 Bulbi Street, Pemulwuy, NSW 2145</a> has been listed for $980,000.
 <img src="https://www.urban.com.au/images/2017/01/17/ResidexPemulbuy2.png" alt="">
Besides the ones on the market, some houses that recently changed hands include a four-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-pemulwuy-123857974" target="_blank">36 Bulbi St, Pemulwuy, NSW 2145</a> that sold for $930,000 in November 2016. The selling agency was Riverbank Real Estate. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/17/ResidexPemulbuy3.jpg" alt="">
Another sale was that of a four-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-pemulwuy-123405206" target="_blank">19 Stanbury Ave, </a><a href="https://www.realestate.com.au/sold/property-house-nsw-pemulwuy-123405206" target="_blank">Pemulwuy, NSW 2145</a> for $915,000 in September 2016. This too was sold through Riverbank. 
<img src="https://www.urban.com.au/images/2017/01/17/ResidexPemulbuy4.png" alt="">
 
In the national report, 107 suburbs had top predictions for houses while there were two suburbs for units. Across the country, 60 of the top 109 suburbs were in regional Australia and 49 were in city areas.
 
Broken down by state, 16 were in the ACT, 39 suburbs were within NSW, 15 were in Queensland, there was 1 from SA, 13 from Tasmania, 6 from Victoria and 19 from WA. Separate reports are also available for Victoria, NSW and Queensland.
 
Lawless said the report was not definitive and other suburbs could also perform strongly. Investors should conduct their own additional research before deciding to commit to a purchase.
 
“As with any forward looking analytic, the reports are predictions, not a guarantee of future growth, and taking into consideration your own personal circumstances is vital,” Mr Lawless said.
 
Get your full copy of the <a href="https://www.residex.com.au/top-100-predictions-report?utm_source=blog.residex.com.au&amp;utm_medium=article-link&amp;utm_campaign=kd-160117" target="_blank">Residex Predictions Report here</a> for $195 per state or $250 for the national report.
 
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Sydney's Pemulwuy follows Gordon as suburb with best growth prospects: Residex report

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The ad promises you earnings of up to $80,000 for the December-January period just by using Airbnb. 
There’s also a testimonial from Arnold Schwarzenegger and mention of Facebook founder Mark Zuckerberg’s sister Randy sharing with Jamie McIntyre tips about “"luxury living without luxury prices" on the website of <a href="https://www.21stcenturyservices.com.au/airbnb-consultancy-business/" target="_blank">21st Century Education</a>. 
All these tips from McIntyre, only for $67 events in Melbourne, Brisbane and Sydney.
Once there, according to a recent report in the Weekend Australian, McIntyre would reveal his secret: “How to make $5000-$10,000 per month in semi-passive income from anywhere in the world.”
McIntyre’s current play is with Airbnb. 
“Airbnb is paying out billions to clients and you can be getting this money for your clients and taking,” the email quoted Mc­Intyre as saying, according to the report in the Weekend Australian.
“Imagine a business that require­s no capital to get started. No ongoing overhead. Thanks to technology this is now possible.”
McIntyre was recently banned from corporate life for a decade by the Australian Securities &amp; Investments Commission following a lengthy Federal Court fight. 
The property spruiker was grilled by Senators Sam Dastyari and Nick Xenophon at a Senate hearing in 2015 over a stalled Shepparton land-banking scheme where many investors were duped of their money on the false promises of strong returns. 
McIntyre listed more than a dozen properties for short-term stays from Queensland’s tropical north to the mansionettes of Melbourne’s Toorak. 
Many of these, the report said, had first been leased by McIntyre and advertised without the knowledge or consent of the owners. 
Airbnb’s global head of policy Chris Lehane has said in a previous report it expects limits to be introduced on the number of listings a person is allowed to have.
McIntyre’s use of the website to build this property empire also raises questions that he is back in business despite the ASIC ban. 21st Century Education denies it.
The Australian report said Blair Harding, a business coach and now the chief executive of 21st Century, dismissed claims McIntyre was back in business.
“Mr McIntyre is no longer involved­ in the management of Australian companies,” Harding is said to have told The Australian in an email. 
“Like many people he uses an Airbnb management company to manage his Airbnb properties. He is also an educator who has educated his clients on the potential to profit from Airbnb and new emerging trends."
McIntyre’s so-called “education programs” first came to the corporate regulator’s attention in 2002, the report said. 
The email advertising the seminars with McIntyre offers a number of ways to make a fortune. You can pay for Mc­Intyre’s advice — one client who did this apparently “made over $4000 in his first month”. Or you can allow 21st Century to manage the service for you — where “we can generate you income almost instantly from accepting your home onto our system”.
An ASIC spokeswoman is cited by the report as saying the regulator is “aware of Mr McIntyre’s latest venture”, and will continue to monitor his conduct while another investigation into his previous ventures remains under way.
“The (Airbnb) service involved doesn’t involve financial advice in relation to a financ­ial product or involve the operation of a financial services business,” the spokeswoman says.
The report lists properties in Gold Coast and Surfers Paradise being advertised through Airbnb for rents such as $595 a night on weekends though they were advertised for weekly rent for much less earlier. The letting agents say they were unaware of McIntyre leasing those places.  
An Airbnb spokeswoman was cited in the report as not being able to explain how the website ensures landlords are made aware their property is being leased through the online platform, although she says “frankly, there’s no place for this sort of behaviou­r on Airbnb”.
The Gold Coast Bulletin has reported its is the neighbours who are annoyed at noisy guests. 
The mansion, owned by McIntyre family company Isle of Capri 2, was purchased for $4.75 million in 2009.
It is advertised at $791 a night if you want the master bedroom unlocked.
The rate for wedding events is not advertised but believed to be upwards of $1200 a night. The listing says the home can sleep up to 18 people in its five bedrooms and cinema room.
His 27m, four-bedroom yacht Livin II is also advertised on the site — at a minimum $1490 a night.
“The Isle of Capri is an exclusive area — we pay a lot of rates and taxes to live here and we don’t expect this,” one neighbour said.
“The council should be acting to close it down.”
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Property spruiker Jamie McIntyre's Airbnb play under scrutiny

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Hunters Hill in Sydney's North Shore led the country in the biggest change in median values for units in 2016, according to the latest CoreLogic report.
The top 10 list for 12-month change in median values in CoreLogic's Best of the Best 2016 report was dominated by Sydney suburbs. The report's data was for the 12 months up to September 2016. 
Hunters Hill topped the list with a median value change of 45.8 percent over 12 months and a median value of $1.16 million. The suburb saw 52 units sold during the period.
Fairlight in Manly and Point Piper in Woollahra, also in Sydney, were in second and third place respectively. However, the 12-month change in Fairlight was 31.5 percent, making it a distant second to Hunters Hill.
<a href="https://www.propertyobserver.com.au/images/2017/01/11/Screen%20Shot%202017-01-11%20at%209.40.46%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/Screen%20Shot%202017-01-11%20at%209.40.46%20AM.png" alt="">
Property Observer looked up some sales around the median price.
A two-bedroom unit at 14/64 Gladesville Road Hunters Hill, NSW, 2110 sold in September 2016 for $1.25 million, according to RP Data. It was on the market for 59 days. The selling agency was First National. It had previously changed hands late in 2013 for $840,000, meaning a 48 percent change in median value in nearly three years.
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/10/CoreLogic-12mth-HuntersHill1.jpg" alt="">
A two-bedroom unit at 213/64 Gladesville Road Hunters Hill, NSW, 2110 sold in July 2016 for $1,040,000. The unit changed hands just a year earlier in 2015 for $805,000, which implies a percentage change in value of 29 percent, which is still below the average 12-month change.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/01/10/HuntersHill2.jpg" alt="">
 
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Sydney's Hunters Hill tops 12-month change in median values: CoreLogic

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When it comes to affordability and lowest rents, there’s no beating Tassie.
Queenstown and Rosebery in Tasmania’s West Coast top the list of median rents in 2016 for both houses and units, according to property analysis firm CoreLogic.
While Queenstown had the lowest median rent of $140 per week for houses, Rosebery scored for units, again with a median rent of $140 pw, figures from CoreLogic’s Best of the Best 2016 show.
In fact, the West Coast appears in four places in the top 10 list of lowest median rents for houses.
Even though the median rents are the same for both Queenstown and Rosebery, the median price values are different. While in Queenstown, it is $90,008 for houses, in Rosebery the median is $76,846 for units, implying a higher rental yield in Rosebery.
Property Observer found some houses and units for rent in the two towns around the median prices.
1. A three-bedroom house at <a href="https://www.realestate.com.au/property-house-tas-queenstown-419315994" target="_blank">25 Austin Street, Queenstown</a>, Tas 7467 (above) is available for $140 pw, the same as the median price. 
2. Another three-bedroom house at <a href="https://www.realestate.com.au/property-house-tas-queenstown-419853814" target="_blank">6 Hurst St Queenstown</a> Tas 7467 (below) is out for renting at $135 pw.
<img src="https://www.urban.com.au/images/2017/01/13/Screen%20Shot%202017-01-13%20at%209.33.42%20AM.png" alt="">
 
3. In Rosebery, a two-bedroom unit at <a href="https://www.realestate.com.au/property-unit-tas-rosebery-419504506" target="_blank">2/4 Huon Court Rosebery</a> Tas 7470 (below) is up for rent for $120 pw, well below the median price. 
<img src="https://www.urban.com.au/images/2017/01/13/Screen%20Shot%202017-01-13%20at%209.34.41%20AM.png" alt="">
Property Observer found only one unit with the applied filters around the median price.
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Tassie led in lowest median rents in 2016: CoreLogic data 

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

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Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

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Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

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Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

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ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

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For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

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Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

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Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

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Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

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Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

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Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

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Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

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The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

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The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

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The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

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Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

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Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

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Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

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Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

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Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

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The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

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The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Prateek Chatterjee

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