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A North Mackay, Queensland mortgagee home was listed just months after it was sold in January of 2019.
Currently listed for $270,000 - $275,000, the property previously transacted for $255,000.
The property has been listed through Buymyplace, meaning the vendor has not employed an agent to market the property.
Situated at <a href="https://www.realestate.com.au/property-house-qld-north+mackay-128779974" target="_blank">10 Meadow Street</a>, the abode is a four bedroom one bathroom house.
Set on 1,000 sqm, the property was previously sold in 2011 for $275,000, the same price as what the vendors are currently seeking.
The renovated property has been listed as a rental multiple times between 2012 - 2017. In 2012 the vendors sough $435/pw.
In 2015 the vendors sought between $240/pw - $280/pw and most recently in 2017 the vendors were asking for $240/pw - $250/pw.
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The median sale price for a unit in <a href="/news">North Mackay</a> is $255,000, according to CoreLogic.
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North Mackay, Queensland mortgagee home listed months after purchase for 2011 price

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An Acacia Ridge, Queensland mortgagee home has been sold for $195,000.
The townhouse last sold for $250,000 in 2007.
As a result this latest sale represents a $55,000 reduction in value.
Mark and Debra Affleck of Elders Town &amp; Country marketed the property.
Situated at <a href="https://www.realestate.com.au/property-house-qld-acacia+ridge-132090306" target="_blank">13/80 Oswin Street</a>, the two level townhouse is a three bedroom, one bathroom abode.
Set on 181 sqm, the townhouse was described in the listing as "a great opportunity for first home owners, investors and buyers looking to downsize."
This property is located within a gated complex of Acacia Ridge, behind the Acacia Market Place. 
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The median price for a home in <a href="/news">Acacia Ridge</a> is $395,000 according to CoreLogic.
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Acacia Ridge, Queensland mortgagee home sold for $55,000 loss

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A Derby, WA mortgagee home has sold for $139,000.
It was listed for sale at $145,000.
Graeme Campbell of Ray White marketed the two bedroom, two bathroom townhouse.
Situated at <a href="https://www.realestate.com.au/sold/property-unit-wa-derby-132624294" target="_blank">6/13 Coolibah Way</a>, it features a two car garage.
It is located in the Ashley Grove Estate.
Last sold in 2011, the unit sold for $550,000 as part of a multisale.
The apartment was listed as a rental in May 2019 seeking $330/pw less than what the vendors sought in 2015 $350/pw.
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The median price for a house in <a href="https://www.realestate.com.au/sold/property-unit-wa-derby-132624294" target="_blank">Derby, WA</a> is $150,750 according to CoreLogic data.
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A Derby, WA mortgagee home has sold below expectations

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Minister for Water, Property and Housing, Melinda Pavey, today announced that she would take the water resource plans for eight surface water areas back to the stakeholder advisory panels for comment prior to submitting to the Commonwealth for accreditation.
"In December last year I promised to complete the consultation, and not be rushed by deadlines that did not recognise the pressures put on our rural communities by what remains a significant drought in the NSW Murray-Darling Basin,” Mrs Pavey said.
“The community has made a huge effort to comment on the draft plans during the public exhibition phase last year. Now I want to go back to the stakeholder advisory panels with an analysis of key community concerns, and make sure these have been adequately considered in the latest draft."
“It is vital that we close the loop with stakeholders before the water resource plans are submitted to the Commonwealth for assessment and accreditation.”
Mrs Pavey said the Stakeholder Advisory Panels will be convened for the regulated river valleys and the Barwon-Darling during March.
"NSW water sharing plans form the engine room of water resource plans. I’ve asked the Department to put these on its website, showing the changes from the publicly exhibited versions, so that communities can see how their concerns have been addressed. This is part of my commitment to transparency in water management,” Mrs Pavey said.
“I have made it clear that these plans won’t be submitted until the community have had their say.”
The consultations will include:
· Murray Lower Darling – Deneliquin – March 18, 2020
· Murrumbidgee - Griffith -19 March
· Barwon Darling – Bouke - 24 March
· Namoi – Narrabri - 30 March
· Namoi – Tamworth - 31 March
· Gwydir - Moree - 1 April
· Border Rivers – Goondiwindi - 2 April
· Lachlan - Parkes - 7 April
· Macquarie – Dubbo - 8 April
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Minister Melinda Pavey gathers water resource plans for NSW

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The Australian Academy of Science has just published a new fact-checked video explainer on the coronavirus answering the following questions.
What is a pandemic? 
How close are we to finding a vaccine? 
How is COVID-19 transmitted? How do I protect myself?
 How is COVID-19 different from other diseases like SARS?
 How concerned should we be? 
Watch the video here: <a href="https://www.youtube.com/watch?v=GCUZ0Bg-k-0&amp;t=" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">https://www.youtube.com/watch?v=GCUZ0Bg-k-0&amp;t=</a>
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The facts on the Coronavirus: Australian Academy of Science

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EXPERT OBSERVER
While property markets across Australia, particularly in Sydney and Melbourne, are recovering well, the recent bushfires have had a material impact on a large number of areas and the likelihood of the reintroduction of macroprudential measures is increasing.
In addition, the implications of the fires and the coronavirus on the economy are yet to be fully determined.
RiskWise Property Research CEO Doron Peleg said unemployment, under-employment and spare capacity in the labour market also noticeably increased in January 2020 and was unlikely to substantially improve in the near future, leading to further speculation the RBA will undertake another interest rate cut before July.
“The recent bushfires will have a major short-term impact on property prices in affected areas and this will increase the risk in many regional areas given the possibility of future occurrences,” Mr Peleg said.
“This impact will depend on the actual effect of the fires as well as the normal projected demand for residential property before they occurred and their location in relation to employment hubs.
“It must also be noted that economic growth has been poor, and this is further compounded by the recent bushfires and the coronavirus disease (COVID-19) although their significant impact is still to be fully determined.
“So, while the market is improving, especially in Sydney and Melbourne, material growth in asset prices and the amplified risk to the financial system increase the likelihood APRA will reintroduce macroprudential measures.”
He said improved buyer sentiment and auction clearance rates well above 70 per cent in those two cities would have a negative impact on housing affordability especially given the undersupply of family-suitable properties relative to demand driven by population increases - the biggest (recurrent) issue in the Australian property market since mid-last decade.
On the other hand, he said there was still a high level of supply of rental properties in some areas and these imbalances had ‘a very material impact’ on changes to dwelling prices of family-suitable properties versus properties unsuitable for families, particularly in high supply areas.
“Obviously, low out-of-pocket expenses for property investors are well connected with a noticeable increase in their activity. Consequently, it is expected that investor activity will further increase with a direct impact on auction clearance rates and dwelling prices,” he said.
“The recovery of the Sydney and Melbourne markets will also mitigate the risk of negative equity for properties purchased during the downturn, as dwelling prices will reach a new peak. However, properties that were settled following an off-the-plan contract with LVR of 90 per cent or more, still carry a high level of risk of negative equity. Increased levels of unemployment and under-employment increase the default risk in some markets.
“Units, particularly off-the-plan, still carry a high level of risk of significant price reductions. Areas with high unit oversupply carry a very high risk and this is still a major issue in some property markets. In addition, the reputational damage and impact of the recent construction defects of high rises increases the risk that demand for both new and existing high-rise properties will fall as their main buyers, investors, look elsewhere e.g. low-rise buildings or freestanding houses.”
STATE-BY-STATE
NSW:
Strong recovery, low interest rates and an improved job market are driving dwelling prices. However, bushfire-impacted areas carry higher risk depending on the strength of their property markets prior to the fires. The Sydney market has completely shifted from a buyers’ market to a sellers’ one. Consequently, at this stage it is likely that it will deliver double digit price increases and is likely to reach a new peak within the next six months. Housing affordability is, therefore, further deteriorating as wage growth is far lower than the expected price increases. Further, systematic undersupply of family-suitable properties is again the biggest (recurrent) issue in the Sydney property market, particularly in high-demand areas. In addition, housing finance has further improved in NSW, as expected, with increased demand from both owner-occupiers and investors. On the other hand, there is still a high level of supply of rental properties in many areas of Sydney with a noticeable impact on the demand for high-rise buildings due to the reputational damage associated with the high-profile construction defects.
Victoria:
While the labour market is deteriorating with a sharp increase in the unemployment rate in January 2020, population growth and strong sentiment continue to drive the property market. As with NSW, the property market in Melbourne is recovering well. Buyer confidence and auction clearance rates have increased significantly (77.1 per cent as at 29 February) and are well correlated with strong price increases making it a strong sellers' market. Consequently, Melbourne is one of the top two performing markets in Australia, well ahead of any others, and is likely to reach a new peak within the next six months. However, the flow-on effect is that housing affordability is highly likely to materially deteriorate given the low wage growth. This also means the undersupply of family-suitable properties will continue to be a major issue, relative to demand driven by population increases. This is exacerbated by Melbourne’s population growth which is the highest in the country at 2.1 per cent. Such population growth is a major driver for demand of dwellings. It should be noted that while investor activity is only 26.7 per cent, well below its peak, it is highly likely this will materially increase. Melbourne faces the same major imbalances, between undersupply of family-suitable properties and high level of supply of investment properties, as Sydney. The recent bushfires also had a major material impact on the demand for residential properties in Victoria's affected areas. The short-term impact on property prices will depend on the actual effect of the bushfires as well as the demand for residential property in the area before the bushfires. Repeatable events might also have a long-term effect on prices.
Queensland:
Southeast Queensland and regional areas present completely different pictures due to a two-speed economy. While buyer confidence has increased in Southeast Queensland, particularly Brisbane, regional areas carry a higher level of risk. The Queensland market greatly varies between its high and low-performing areas, and special attention should be given to the different job markets across the state, particularly since the unemployment rate has gone up from 5.7 per cent in December 2019 to 6.3 per cent in January 2020. Regional areas with a weak labour market carry a higher level of risk. The risk associated with the Queensland market should be monitored closely at the SA4 level, as deteriorating employment conditions are likely to have a significant negative impact on dwelling prices.
South Australia:
A soft labour market, with a reduction in actual employment, has meant slow growth for dwelling prices. Buyer confidence has increased, particularly in Adelaide, and this has seen an improvement in auction clearance rates and, consequently, it appears dwelling prices have reached the bottom. Popular areas continue to show evidence of recovery, particularly those with steady recent price growth rates. The labour market is a key factor in South Australia’s price growth projections and while it has improved in the past couple of years, it is still weak. The recent reduction (in January 2020) in the unemployment rate is attributed to fewer people seeking work in the state. Overall, the number of total jobs in the state has actually reduced. While serviceability measures have improved due to the RBA’s interest rate cuts, the soft labour market and the relatively high unemployment rate increases the risk of credit defaults. In addition, the demand for units among owner-occupiers in South Australia is, generally, low and some suburbs are subject to voluntary lending restrictions by the major lenders. The recent bushfires also had a major material impact on the demand for residential properties in some of South Australia's affected areas. The short-term impact on property prices will depend on the actual effect of the bushfires as well as the demand for residential property in the area before the bushfires. Repeatable events might also have a long-term effect on prices.
Western Australia:
A weak labour market and a sharp increase in the unemployment rate in January present a recurring problem for price growth. While buyer confidence has improved, particularly in Perth and housing finance has been showing signs of improvement, overall, economic activity remains well below the 10-year average and the effective unemployment is still significantly above the 10-year benchmark. Due to the weakness of the labour market, Western Australia’s annual population growth of 1 per cent is the third lowest nationally. As a result, the housing market, particularly units, has experienced continued weakness in recent years. The state government tax on overseas investors further decreases the demand for new units as investment properties. The relatively weak employment market also increases the risk of credit defaults. High-risk borrowers, combined with properties that suffer from low demand, require special attention in relation to credit provisioning.
Tasmania:
Affordability issues and a material increase in unemployment during January, with preferred alternative investments in Melbourne, have made the Apple Isle less resilient and the property market continues to experience decelerated price growth despite low supply of dwellings, low median prices, a tighter rental market and strong rental returns. A key reason for this is that the state remains less affordable than five of the states and territories (in price-to-income ratio) and the labour market is relatively weak. The attractiveness of the Melbourne market provides a preferred investment alternative in comparison to the relatively expensive properties in the popular areas of Hobart. Units carry a higher level of risk due to the relatively high number in the pipeline compared to population growth.
Northern Territory:
Continued weakness and poor population growth are having a sustained impact on dwelling prices. The poor economy continues to play a part in its subdued property market with 19.8 per cent price reductions for houses in the past five years and 35.4 per cent for units. Much of this negative capital growth in recent years is due to population issues. It was the only state/territory in Australia that experienced population loss in 2017-18. While dwelling supply in relation to population growth is low and dwellings are very affordable, the low demand for housing makes the Northern Territory a risky area especially given the low level of private investment that is significantly below the growth levels during the mining boom. Combined with a relatively large supply of units, the end of the mining boom signalled significant price reductions for units and, to a lesser extent, houses.
Australian Capital Territory:
An extremely strong job market, with only 3 per cent unemployment rate, has ensured demand for dwelling is solid. Houses in the ACT are solid performers, but new units present higher risk. The ACT market has benefited from recent developments in relation to the housing market and showed moderate price increases and a good medium to long-term outlook. The ACT has consistently delivered strong economic growth at 4 per cent which eclipses the rest of the country and provides a strong indication of its future. This is supported by healthy levels of both private capital expenditure and government expenditure.
DORON PELEG is the CEO of Riskwise
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Examining the risks and opportunities across the Australian property market: RiskWise's Doron Peleg

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Sportsbet has released its latest odds on a change in the cash rate for at the RBA meeting this month.
They beleive that following the recent turmoil in the global market, in particular the recent drop in the share market, that a cut is likely. 
<a href="https://www.sportsbet.com.au/betting/novelty-bets/rba-interest-rates/interest-rate-decision-5125930" target="_blank">The online bookmaker</a> is tipping a cut of 0.25% with bets at $1.20.
The interest rate to stay the same is $4.50 and any other change $6.
The chances of an increase is $11.
“It appeared the rate was likely to stay the same, but the odds changed drastically this morning after $44 billion was wiped off the share market,’’ said sportsbet.com.au’s Rich Hummerston.
RateCity.com.au agree adding that if the RBA does cut rates most Australian home loan customers are unlikely to get the full cut.
Research from RateCity.com.au shows after the October 2019 Reserve Bank rate cut, the big four banks only passed on an average of 0.14 per cent to their owner-occupier variable rate customers paying principal and interest.
The average mortgage holder could save $56 a month if their bank passes this rate cut on in full. However, customers that get a 0.15 per cent cut might only save $34, while a 0.10 per cent cut would result in just $23, based on a $400,000 mortgage paying principal and interest.
What the big four banks did after the 2019 RBA rate cuts
<img src="https://www.urban.com.au/images/2020/3/2/Ratecity%20march%203.JPG" alt="">
RateCity.com.au research director Sally Tindall said if the RBA does cut the cash rate, most banks will struggle to pass on the full 0.25 per cent.
<img src="https://www.urban.com.au/images/2020/3/2/Ratecity%20march%204.JPG" alt="">
“If the RBA moves, new customer rates are likely to hit another low, however existing customers shouldn’t assume they’ll get the full cut,” she said.
“Last October, the big four banks passed on an average of 0.14 per cent. I wouldn’t expect more than that this time around. In fact, in this low rate environment, some variable rate customers will be lucky to get half."
“The record-low cash rate is problematic for the banks. Many banks’ base savings rates are within 0.25 per cent of zero, making it near impossible to pass on full cuts to depositors."
“If the RBA does fire off another cut, banks will have to weigh up the competing interests of borrowers, depositors and shareholders,” she concluded.
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Sportsbet tipping March RBA interest rate cut

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EXPERT OBSERVER
The global sharemarket downturn will grab all the headlines again today.
Shares fell sharply in February as investors became increasingly concerned about the spread and increase in novel coronavirus (COVID-19) infection rates globally. Uncertainty about the US presidential election outcome, concerns over lofty sharemarket valuations and worries about the potential virus impact on corporate earnings and global growth also dampened risk sentiment and lifted volatility.
In the final week of the month major developed market indexes - including the Australia’s benchmark S&amp;P/ASX200 index - posted their worst weekly performances since 2008.
So where do investors seek shelter in a low interest rate environment?
Well, record low mortgage rates, rising home prices, strong auction clearance rates, limited housing supply, improving access to home loans and now financial market volatility are encouraging Aussies to return to the property market.
In fact, total returns on national dwellings rose by 10.1 per cent in the year to February - the strongest annual growth rate in 28 months - with houses up by 9.9 per cent and units up by 10.5 per cent on a year earlier. In contrast, the S&amp;P/ASX All Ordinaries Accumulation Index lifted by 8.2 per cent over the year to February – the weakest annual growth rate in 12 months.
What do the figures show? Home prices
The CoreLogic Home Value Index of national home prices rose by 1.1 per cent in February to stand 6.1 per cent higher over the year.
In capital cities, prices rose by 1.2 per cent to be up 7.3 per cent over the year to February. House prices rose by 1.2 per cent and apartment prices also lifted by 1.2 per cent. House prices were up 7.5 per cent on a year ago and prices of apartments increased by 6.9 per cent.
In regional areas, home prices rose by 0.7 per cent with houses up 0.8 per cent and apartment prices up by 0.3 per cent. Regional home prices were up 1.4 per cent on the year to February.
The average Australian capital city house price (median price) was $669,037 and the average unit price was $577,800 in February.
Home prices were higher in seven of the eight capital cities in February. Home prices rose by the most in Sydney (up by 1.7 per cent), followed by Melbourne (up by 1.2 per cent), Hobart (up by 0.8 per cent), Canberra (up by 0.8 per cent), Brisbane (up 0.6 per cent), Perth (up by 0.3 per cent), and Adelaide (up by 0.1 per cent). But Darwin prices fell by 1.4 per cent.
Home prices were higher than a year ago in six of the eight capital cities in February. Prices rose the most in Sydney (up by 10.9 per cent), followed by Melbourne (up by 10.7 per cent), Hobart (up by 5.0 per cent), Canberra (up by 4.1 per cent), Brisbane (up by 1.9 per cent) and Adelaide (up by 0.4 per cent). But prices were down in Darwin (down by 7.8 per cent) and Perth (down by 4.0 per cent).
Total returns on national dwellings rose by 10.1 per cent in the year to February with houses up by 9.9 per cent on a year earlier and units up by 10.5 per cent. In contrast, the S&amp;P/ASX All Ordinaries Accumulation Index lifted by 8.2 per cent over the year to February.
Manufacturing Purchasing Managers’ indexes - February
The Australian Industry Group’s (AiGroup) Performance of Manufacturing Index fell by 1.1 points to a near 5-year low of 44.3 points in February. Any reading below 50 indicates contraction in activity.
The decline was driven by weaker exports (down 5.3 points to 44.5 points); slower production (down 4.8 points to 40.4 points); slower sales (down 2.3 points); and falling new orders (down 2.0 points to 41.7 points). But supplier deliveries (+2.8 points to 46.5 points); finished stocks (+0.7 points to 48.5 points) and employment (up 0.7 points to 49.1 points) all rose.
The AiGroup said, “All manufacturing sectors experienced weaker conditions in February than in January (trend). Food &amp; beverages is now the only manufacturing sector to be expanding (results over 50 points) but its growth has slowed significantly in recent months. All other sectors contracted in February and at a faster pace than in January (trend).”
“The production, sales, new orders and exports indices fell further into contraction in February and were firmly negative. COVID-19 is already denting exports of Australian manufactured goods, particularly consumable items into China. The ‘heavy’ manufacturing sectors are reporting supply chain disruptions because of freight and factory closures in China. Locally, drought remains a major concern in some parts of the country, despite better recent rain. The ‘metals’ and ‘building materials, wood, furniture &amp; other’ sectors reported weak demand from the construction industry.
The ‘final’ CBA/IHS Markit Manufacturing Purchasing Managers' Index rose by 0.6 points to 50.2 points in February. Any reading above 50 indicates an expansion in activity.
According to CBA/IHS Markit, “February saw a rise in the headline PMI, fuelled principally by longer delivery times as supply chains were affected due to the coronavirus outbreak. Output, new orders and employment all continued to fall, which saw firms cut back purchasing activity and tap into current inventories. Stocks of both inputs and finished goods fell. Business confidence, while positive, stayed below the historical average. On the price front, input price inflation remained solid, while charges grew at a slower pace.”
What are the implications for interest rates and investors?
News over the weekend that China’s February manufacturing and services sector contracted by the most on record – due to the virus-induced shutdown of industry and supply chains – have increased investor concerns about a potential global recession. On Friday, US Federal Reserve Chair Jerome Powell said that the US central bank is ready to cut interest rates to support the US economy.
Now money markets are convinced that Reserve Bank of Australia Governor Philip Lowe will ‘pull the trigger’ and cut rates to a record low 0.5 per cent tomorrow in an attempt to shield the Aussie economy from downturn in the education, tourism and resources sectors. While lower interest and mortgage rates are good news for those with a mortgage – boosting household cashflows due to lower borrowing costs – self-funded retirees relying on term deposits will be displeased.
The latest Aussie manufacturing activity indicators were mixed. The AiGroup factory activity measure is contracting by the most since 2015 with weak consumer demand and now the virus outbreak weighing on business confidence and conditions. Supply chains are being affected by reduced capacity and the shutdown of industry in China.
The one bright spot for the economy is the housing market. Home prices outside of Darwin are booming. Additional rate cuts by the Reserve Bank will provide even further impetus for investors searching for yield with Aussie shares down from record highs and government bond yields hitting record lows. Home values in Adelaide, Brisbane, Canberra, Hobart and Melbourne all hit record highs in February.
RYAN FELSMAN is a Senior Economist for CommSec
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Residential property has outperformed shares: CommSec's Ryan Felsman

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The capital city weekend auctions saw continued strong clearance rates as the summer selling season came to a bullish conclusion. 
Sydney recorded a success rate of 81 per cent, with Melbourne not too far behind behind on 77 per cent.
The real estate results contrast with the coronavirus turmoil on stockmarkets, which will be upper most on the minds when the RBA board meet to set its official cash rate on Tuesday.
Melbourne was the busiest auction market with 1,567 auctions, the busiest weekend since October 2018. 
In Melbourne, 1,221 results were captured and 941 homes sold, reported CoreLogic.
Sydney had some 1,045 auctions held over the week. Of the 645 Sydney results captured, 525 homes sold, CoreLogic reported.
"Based on these numbers, the market does not (yet) appear to be affected by global events," SQM boss Louis Christopher said. "But watch this space..."
The highest confirmed residential sale in Sydney was <a href="https://www.realestate.com.au/property-apartment-nsw-milsons+point-132850826" target="_blank">1701/30 Glen Street Milsons Point</a> (pictured above), a four-bedroom, three-bathroom penthouse. 
The 312-square-metre apartment fetched $7,250,000 through Black Diamondz.
Located within the Colonnades' building, the harbour-view apartment features an upper master retreat opening to a rooftop entertaining terrace, and three double bedrooms with balcony access and views.
It had previously sold in 2014 for $2.88 million.
Sydney's most affordable residential sale, <a href="https://www.realestate.com.au/property/unit-8-14-16-the-trongate-granville-nsw-2142" target="_blank">8/14-16 The Trongate, Granville</a>, sold prior to auction for $375,000. 
Listed by Ray White estate agent, George Jammal, the newly renovated unit is situated on the first floor. 
The two-bedroom, one-bathroom apartment had been fitted with a new kitchen with gas cooking. 
In Melbourne, the highest residential sale was in Hawthorn at $6.07 million.
The <a href="https://www.rtedgar.com/property/19-fairview-street-hawthorn-vic-3122/38857/" target="_blank">19 Fairview Street Hawthorn home</a> was an architect designed, Merkon-built offering set over three levels on its 790 sqm holding with views over Fairview Park.
There was a sale in Malvern at $5,406,000 of an ornate five bedroom home at <a href="https://www.marshallwhite.com.au/property/24-embling-road-malvern-877755/" target="_blank">24 Embling Road</a>.
The 1920s home attracted four bidders after the opening $4.8 million vendor bid. 
In Toorak there was a $4,575,000 sale of a 1920s home, Carisbrook.
Announced on the market at $4.3 million, the <a href="https://www.realestate.com.au/property/11-toorak-ave-toorak-vic-3142" target="_blank">Toorak Avenue property</a>'s price guide had been between $4 million and $4.4 million for the four-bedroom, two-bathroom house by its Marshall White estate agents James Redfern and David Volpato.
The 836 sqm holding had sold at $3.35 million in 2010.
Marketing suggested the house "represents an outstanding opportunity to renovate and extend".  
A Canterbury offering at <a href="https://www.realestate.com.au/sold/property-house-vic-canterbury-132892990" target="_blank">8 Stanley Grove</a> sold for $3,780,000.
The four-bathroom, two-bedroom house was listed by Jellis Craig estate agents Peter Vilano and Jessica Zhang. 
The 858 sqm residence showcases a king-sized kitchen that overlooks the family room and west-facing gardens.
A Harold Street, Middle Park house was passed in on a $5.8 million vendor bid at its Cayzer Real Estate auction
Melbourne's cheapest residential sale <a href="https://www.barryplant.com.au/for-sale/11-37-st-kinnord-street-aberfeldie-vic-3040-84098/" target="_blank">11/37 St Kinnord Street, Aberfeldie</a> sold for $300,000, mid-way between its $290,000 to $310,000 Barry Plant price guidance.
The one bedroom, one barhroom unit had previously sold at $275,000 in 2016. 
It was a $250 a week rental in 2015 and at $280 last November. It is leased until next November.
Across the smaller auction markets, preliminary results from CoreLogic show that Canberra was the best performing with a 67 per cent success rate across 82 auctions. 
Brisbane saw a 63 per cent success rate including the sale of <a href="https://www.propertyobserver.com.au/https://raywhitealderley.com.au/properties/residential-for-sale/qld/alderley-4051/house/2257169" target="_blank">51 Alderley Avenue, Alderley</a> for $958,000. 
"There had been intense interest in this two level family home with more than 80 groups through during the campaign with interest coming from a mixture of first home buyers, young professional couples and families," Ray White Alderley agent Andrew Cowan said.
There were 10 registered bidders “who went hammer and tong” because finding a house like this with four bedrooms and two bathrooms in Alderley is not easy.”
Adelaide saw a 62 per cent clearance rate while only 37 per cent of homes were sold at auction across Perth. 
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Summer ends with strong capital city auction success rates

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The Australian Institute of Landscape Architects (AILA) has announced the appointment of Ben Stockwin as its new CEO.
Mr Stockwin was previously CEO at the Primary Industries Education Foundation Australia (PIEFA) for nine years. He replaces Tim Arnold.
AILA President Shaun Walsh said Mr Stockwin would bring a tremendous range of skills to the 12- strong team, having successfully led a diverse national organisation while gaining an appreciation of the intersect between the natural, managed and constructed environments.
“Our cities and regions are facing unprecedented social, cultural and environmental challenges – Mr Stockwin’s extensive experience will help provide leadership to the Institute that will continue to raise our membership profile, our engagement with allied organisations and our advocacy to all levels of government,” Mr Walsh said.
“Mr Stockwin was appointed following an open recruitment process, and was selected based on the strengths of his experience as a CEO, his proven ability to lead an organisation with members across Australia as well as his common cultural values, dynamic energy and emotional intelligence expressed in successive interviews.
“We are delighted that Mr Stockwin will be joining us in the next chapter of AILA’s progression and we look forward to welcoming him to the world of landscape architecture.”
Mr Stockwin said it was AILAs strong social purpose, good governance and vibrant membership that made the move attractive.
“The role will allow me to continue to work with an organisation that improves the lives of Australians in multiple ways and I look forward to building on the inspirational work of AILA thus far,” he said.
“Issues around sustainability, nature deficit disorder, increasing population and climate change have been at the forefront of my work over the past decade, and I look forward to integrating these into the role at AILA.”
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Mr Stockwin will officially commence on Monday 6 April, relocating from Tasmania to work from AILA’s national office in Canberra.
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AILA appoints Ben Stockwin as CEO

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Joel Robinson

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

La Vera closes in on completion as Macquarie Park continues residential transformation

Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Ceerose Founder Edward Doueihi told Apartments.com.au the developer’s long-standing presence in Leichhardt and the Inner West had given it a strong understanding of how the area has evolved and where its future opportunities lie.

“Ceerose has had a long-standing presence in Leichhardt and the Inner West, giving us a unique understanding of the area’s evolution and future potential,” Doueihi said.

“Having delivered projects throughout the region, we have witnessed the suburb’s transformation first-hand and understand the opportunities for its continued growth.”

Doueihi said that understanding also informed the planning process, with a comprehensive Stakeholder Engagement Outcomes Report prepared before the application was lodged.

The report identified the key issues and concerns raised by neighbouring residents and other stakeholders, allowing those matters to be considered and incorporated into the design where appropriate.

He said the delivery of additional housing would also play an important role in supporting the revitalisation of Norton Street and the Italian Forum.

“By increasing the local residential population, the development is expected to strengthen demand for local businesses, encourage further investment, and help restore the vibrancy that made the precinct a thriving destination in the early 2000s.”

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Doueihi founded Ceerose in 1998 and has grown the business to become one of Sydney's more active apartment developers in recent years, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

Staff reporter

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