<html><body>
Officer houses, according to the REIV December quarter data, had Melbourne's highest price escalation.
Prices grew 13.6% over the quarter with the median shifting from $550,000 to $625,000.
An example of a house in Officer which sold for the current median price is <a href="https://www.realestate.com.au/property/7-barnsley-rd-officer-vic-3809?pid=p4ep-pdp%7Csold-pdp:property-history-cta#timeline" target="_blank">7 Barnsley Road</a> (pictured above).
Sold for $635,000, the four bedroom two bathroom Porter Davis designed home is 18 months old.
Situated in the hub of Timbertop an estate in Officer, the house features an enclosed theatre room.
The house's value has more than doubled since it was purchased off the estate in 2016 for just $280,000.
<img src="https://www.urban.com.au/images/2019/1/21/Officer%202.JPG" alt="">
Another example of this median sale price being present in Officer is <a href="https://www.realestate.com.au/sold/property-house-vic-officer-129741310" target="_blank">6 Marwood Way</a> (pictured above).
Also located within Timbertop, this four year old home was once a display home for the estate.
Sold for $625,000 the three bedroom two bathroom home features a double remote garage, breakfast bar and a home theatre system.
Located within minutes to the freeway and Beaconsfield shopping area the home saw a small price reduction since it's 2017 sale price of $662,000.
<img src="https://www.urban.com.au/images/2019/1/21/Officer%203.JPG" alt="">
A case of the median sale price being displayed in house listings in Officer is <a href="https://www.realestate.com.au/property-house-vic-officer-130285850" target="_blank">9 Oros Way</a> (pictured above).
With an asking price of $590,000 - $640,000 the one year old home is located within the Lavender Estate.
The four bedroom two bathroom home is currently being leased at $1,825 per month until 17/10/2019.
Situated within walking distance to local schools, the hugely popular public transport, the house is a few minutes drive from the proposed retail precinct. 
<table dir="ltr" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td data-sheets-value='{"1":2,"2":"Suburb"}'>Suburb</td>
<td data-sheets-value='{"1":2,"2":"Dec-18 Median"}'>Dec-18 Median</td>
<td data-sheets-value='{"1":2,"2":"Sep-18 Median"}'>Sep-18 Median</td>
<td data-sheets-value='{"1":2,"2":"Quarterly Change"}'>Quarterly Change</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"OFFICER"}'>OFFICER</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":625000}'>$625,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":550000}'>$550,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.136}'>13.60%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"MALVERN EAST"}'>MALVERN EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":1760000}'>$1,760,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":1550000}'>$1,550,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.135}'>13.50%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"THORNBURY"}'>THORNBURY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":1297500}'>$1,297,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":1152500}'>$1,152,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.126}'>12.60%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"TAYLORS HILL"}'>TAYLORS HILL</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":803750}'>$803,750</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":739750}'>$739,750</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.087}'>8.70%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"MOUNT MARTHA"}'>MOUNT MARTHA</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":1102500}'>$1,102,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":1015000}'>$1,015,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.086}'>8.60%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"HAWTHORN"}'>HAWTHORN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":2217500}'>$2,217,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":2058000}'>$2,058,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.078}'>7.80%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"BERWICK"}'>BERWICK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":720000}'>$720,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":671000}'>$671,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.073}'>7.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"CROYDON"}'>CROYDON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":770000}'>$770,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":730000}'>$730,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.055}'>5.50%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"ROWVILLE"}'>ROWVILLE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":838000}'>$838,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":800000}'>$800,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.048}'>4.80%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"FERNTREE GULLY"}'>FERNTREE GULLY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":730000}'>$730,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":700050}'>$700,050</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.043}'>4.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"DIAMOND CREEK"}'>DIAMOND CREEK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":786550}'>$786,550</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":757500}'>$757,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.038}'>3.80%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"CRANBOURNE EAST"}'>CRANBOURNE EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":575500}'>$575,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":557800}'>$557,800</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.032}'>3.20%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"GREENVALE"}'>GREENVALE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":778750}'>$778,750</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":760000}'>$760,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.025}'>2.50%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"BRUNSWICK"}'>BRUNSWICK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":1024500}'>$1,024,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":1001000}'>$1,001,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.023}'>2.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"CRANBOURNE NORTH"}'>CRANBOURNE NORTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":605000}'>$605,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":591600}'>$591,600</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.023}'>2.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"MOOROOLBARK"}'>MOOROOLBARK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":705500}'>$705,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":690000}'>$690,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.022}'>2.20%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"CRAIGIEBURN"}'>CRAIGIEBURN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":571500}'>$571,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":560000}'>$560,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.021}'>2.10%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"RINGWOOD"}'>RINGWOOD</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":880000}'>$880,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":862900}'>$862,900</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.02}'>2.00%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"MORNINGTON"}'>MORNINGTON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":775000}'>$775,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":765000}'>$765,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.013}'>1.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"ROSEBUD"}'>ROSEBUD</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":590000}'>$590,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":585500}'>$585,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.008}'>0.80% 
</td>
</tr>
</tbody></table>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Officer, on Melbourne's outskirts ranked first for Victoria's house price growth: REIV

<html><body>
Dandenong apartment prices have seen a 22% growth spike in the last quarter, according to REIV data.
In 2017 the REIV noted Dandenong sat in the most affordable suburbs, but Melbourne’s ever-expanding boundaries have meant suburbs up to 70 kilometres from the city have pushed Dandenong out of the 10 most affordable suburbs list.
An example of this surging median price is <a href="https://www.realestate.com.au/sold/property-unit-vic-dandenong-129439186" target="_blank">79/35 David Street, Dandenong</a> (pictured above).
The two bedroom one bathroom townhouse sold for $420,000 in December 2018. 
It saw price growth of $125,000 from its 2015 sale price of $295,000.
Situated within walking distance to Hemmings Park, schools, Dandenong Market, Plaza and Dandenong Hospital the property has easy access to trains, buses, Eastlink and the Monash Freeway.
<img src="https://www.urban.com.au/images/2019/1/21/Dandenong%201.JPG" alt="">
Another example of the median price in Dandenong is <a href="https://www.realestate.com.au/sold/property-unit-vic-dandenong-129452490" target="_blank">2/44 Hammond Road</a>  (pictured above).
This three bedroom one bathroom townhouse sold for $423,333 in November 2018.
It saw price growth $33,333 from its December 2017 sale price of $390,000.
The home features solar hot water and has no body corporate fees.
<img src="https://www.urban.com.au/images/2019/1/21/Dandenong%202.JPG" alt="">
An indication of this median price being a target price is <a href="https://www.realestate.com.au/property-unit-vic-dandenong-129925094" target="_blank">5/16 Norman Court, Dandenong</a> (pictured above).
Set on 198 sqm the property is a two bedroom one bathroom townhouse.
Seeking $400,000 - $440,000, the home has a current rental return of approximately $300 per week.
Located near Dandenong station, schools, shops and Dandenong Central the property also has a one car garage.
<table dir="ltr" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td data-sheets-value='{"1":2,"2":"Suburb"}'>Suburb</td>
<td data-sheets-value='{"1":2,"2":"Dec-18 Median"}'>Dec-18 Median</td>
<td data-sheets-value='{"1":2,"2":"Sep-18 Median"}'>Sep-18 Median</td>
<td data-sheets-value='{"1":2,"2":"Quarterly Change"}'>Quarterly Change</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"DANDENONG"}'>DANDENONG</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":415000}'>$415,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":340000}'>$340,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.221}'>22.10%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"KEW"}'>KEW</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":830250}'>$830,250</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":696000}'>$696,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.193}'>19.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"BRUNSWICK EAST"}'>BRUNSWICK EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":576000}'>$576,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":510000}'>$510,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.129}'>12.90%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"BRUNSWICK"}'>BRUNSWICK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":540000}'>$540,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":485000}'>$485,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.113}'>11.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"ESSENDON"}'>ESSENDON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":530000}'>$530,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":485000}'>$485,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.093}'>9.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"CROYDON"}'>CROYDON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":597500}'>$597,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":550000}'>$550,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.086}'>8.60%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"MORDIALLOC"}'>MORDIALLOC</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":703500}'>$703,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":648500}'>$648,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.085}'>8.50%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"ABBOTSFORD"}'>ABBOTSFORD</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":630000}'>$630,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":587500}'>$587,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.072}'>7.20%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"CARNEGIE"}'>CARNEGIE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":552500}'>$552,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":516500}'>$516,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.07}'>7.00%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"BENTLEIGH"}'>BENTLEIGH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":835000}'>$835,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":785500}'>$785,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.063}'>6.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"PRESTON"}'>PRESTON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":560000}'>$560,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":533500}'>$533,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.05}'>5.00%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"SOUTH YARRA"}'>SOUTH YARRA</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":587000}'>$587,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":560000}'>$560,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.048}'>4.80%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"RICHMOND"}'>RICHMOND</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":647500}'>$647,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":620000}'>$620,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.044}'>4.40%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"BRUNSWICK WEST"}'>BRUNSWICK WEST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":500000}'>$500,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":480000}'>$480,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.042}'>4.20%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"SOUTHBANK"}'>SOUTHBANK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":572500}'>$572,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":550000}'>$550,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.041}'>4.10%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"DONCASTER EAST"}'>DONCASTER EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":770000}'>$770,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":750000}'>$750,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.027}'>2.70%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"TOORAK"}'>TOORAK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":809000}'>$809,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":795000}'>$795,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.018}'>1.80%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"NORTH MELBOURNE"}'>NORTH MELBOURNE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":624000}'>$624,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":620000}'>$620,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.006}'>0.60%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"PASCOE VALE"}'>PASCOE VALE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":619000}'>$619,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":616000}'>$616,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.005}'>0.50%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"DOCKLANDS"}'>DOCKLANDS</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":621500}'>$621,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":619250}'>$619,250</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.004}'>0.40%</td>
</tr>
</tbody></table>
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Dandenong apartments prices soar: REIV

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Nick Cole has expanded his boutique Gold Coast agency teaming up with Nicole Bricknell as the new faces of Cole Residential.
Ms Bricknell approached Cole after he opened the Isle of Capri-based agency to work together.
“I was ready for a change,” Ms Bricknell, who was previously at Amir Mian Prestige Property Agents, said.
The agency have marketed their acquisition of Bricknell in the property magazines.
<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/2019/1/21/Cole2.jpg" alt="">
Cole told the Gold Coast Bulletin they shared many contacts and had heard positive feedback about each other so working together was an obvious choice.
Cole had previously worked for his mother, Lucy for opening his Isle of Capri-based agency last September.
Since joining the family business 10 years ago, Nick quickly become one the top selling agents within the agency and across Australia. 
The independent agency joins a field of other boutique-style agencies on the coast including Genc &amp; Co, Alex Phillis Luxury Real Estate, Lambert Willcox Estate Agents and JW Prestige Agents.
 
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Nicole Bricknell joins Cole Residential on the Gold Coast

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GUEST OBSERVATION
The losers from Labor’s capital gains tax policy aren’t all where you would expect them to be, whatever you expect. 
Labor is going into the election promising to tax capital gains more heavily. Depending on who you listen to, it’ll either hit the very highest of earners, or middle earners – people such as teachers and nurses. The same critics have claimed different things at different times.
The truth is even stranger. In part because people who present as being part of one income group are often better described as being part of another.
It’s certainly stranger than fiction.
What are capital gains?
Capital gains are the profits made from buying something at one price and selling it at another. These profits are typically taxed at only <a href="https://www.ato.gov.au/general/capital-gains-tax/working-out-your-capital-gain-or-loss/working-out-your-capital-gain/the-discount-method-of-calculating-your-capital-gain/" target="_blank">half the rate of other income</a>. (Technically, only half of each capital gain is taxed.)
The discount, introduced by <a href="https://www.theage.com.au/opinion/revenge-bloodymindedness-and-gullibility-the-untaxing-of-capital-gains-20150810-giv8zg" target="_blank">Prime Minister John Howard</a> in late 1999, was sold as ensuring that profit takers wouldn’t be taxed on the workings of inflation, a concession that was already built into the system, although in a more complicated way.
But because inflation had fallen so dramatically, the 50% discount went much further. It taxed capital gains, so-called “unearned income”, at a much lower rate than income earned in the form of wages and salaries, and also at a lower rate than bank interest and other forms of income.
In the lead up to the coming election (and the last one) the Labor Party has promised to wind back the discount, cutting it from 50% to 25% for newly-purchased assets held for more than a year, meaning that for those assets <a href="https://www.alp.org.au/negativegearing" target="_blank">three quarters</a> of each gain will be taxed instead of one half.
There are two (apparently contradictory) views about who the changes will hit, both of them spelled out in the pages of The Australian, and both sourced to the treasurer Josh Frydenberg.
On January 5 the treasurer said investors would pay the “<a href="https://www.theaustralian.com.au/national-affairs/treasury/investors-to-pay-worlds-highest-capital-gains-tax-under-alp/news-story/0e5fdcfd4c942f7346c5385a2848dc67" target="_blank">world’s highest tax</a>” under Labor’s changes.
But that would only be the case if they were the very highest earners, on more than A$180,000. And it would only be the case for a short time where the capital gains are a one off.
Mr Frydenberg quoted a rate of 36.75% for capital gains tax, which would be three quarters of 49%, which itself would be made up of the top marginal rate of 45% plus the 2% Medicare levy plus the 2% temporary budget repair levy that Labor plans to reintroduce for two years.
That top marginal rate only applies to Australians on more than A$180,000.
Then ten days later on January 15, Mr Frydenberg said most of the workers hurt would be on much lower incomes, of up to A$80,000.
Then shadow treasurer Chris Bowen entered the debate, calling Fyrdenberg’s second claim “silly”. He said 70% of the total amount of capital gains tax discounts claimed was claimed by the top earners.
But he didn’t address the treasurer’s contention that most of the beneficiaries are lower earners.
What the data says
The Australian National University’s microsimulation model of the tax and social security system, <a href="http://csrm.cass.anu.edu.au/research/policymod" target="_blank">PolicyMod</a>, and the Australian Tax Officie’s <a href="https://www.ato.gov.au/About-ATO/Research-and-statistics/In-detail/Taxation-statistics/Taxation-statistics-2015-16/" target="_blank">Taxstats 2015-16</a> enable us to get at the truth.
Using a 2% sample of the tax returns submitted, including the information about capital gains and capital losses, we are able to work out who is the hardest hit by capital gains tax by income, age and gender.
At first blush we find that almost all capital gains tax collected - 85% - is paid by the top 10% of income earners. The bottom 10% (and also the bottom 20%) pay nothing.
It shouldn’t be surprising. High earners pay more tax than low earners because they earn more. The top 10% of earners also pay 51% of personal income tax.
Not many people pay capital gains tax
Around 900,000 Australians report capital gains per year, a figure <a href="https://www.theaustralian.com.au/news/inquirer/labors-capital-gains-tax-hike-will-hurt-the-economy/news-story/5f8c61d6b57c107dc70bad55553e8de7" target="_blank">used by the treasurer</a> to suggest capital gains are widespread.
But after taking losses into account, the number reporting net capital gains falls to 670,000. Only about 540,000 of them pay capital gains tax. The others have taxable incomes below the tax-free threshold.
Of the 540,000 who do pay capital gains tax, 29% are in the top 10% of earners by taxable income.
A very high 12.7% are in the top 3% of earners, meaning they are on the very highest tax bracket, earning A$180,000 or more.
Small in number though they are, the Australians in the top 3% who pay capital gains tax, pay 74% of it. They pay 30.7% of all personal income tax.
They’re often retirees, and women
Older Australians pay only 5.6% of all personal income tax but about 29% of all capital gains tax.
Surprisingly, partnered women are also over-represented, paying 19.4% of personal income tax but an outsized 28.7% of capital gains tax. This is what you would expect if couples planning to minimise tax put the asset they were planning to buy and sell in the name of the lower paid partner.
Persons with wages and salaries are underrepresented, paying around 88% of personal income tax but only around 47% of capital gains tax.
But these figures are misleading.
Partnered women pay 19.4% of personal income tax but an outsized 28.7% of capital gains tax. 
It gets stranger still
By definition, most people’s incomes will be high in the year in which they pay capital gains tax. Examining their total income in that year, as we have done, will wrongly make it look as if it is mainly high income people who pay capital gains tax.
An alternative measure would be to rank people by their taxable income after deducting their capital gains. It’d rank them by something more like their normal income.
When we do that we find that the share of capital gains tax paid by the top 10% of earners is nothing like the 85% we first found. It’s a much lower 38%.
This measure produces another, very odd, result.
The bottom 10% turn out to pay, not none of the capital gains tax collected as we had thought, but an overweight 20%.
Stranger still, the next-bottom 10%, the people who fit somewhere between the bottom 10% and the 20%, pay only 4% of the capital gains tax collected.
Our lowest earners embrace capital gains…
There’s something odd at the bottom for those reporting capital gains. The clue lies in what they are at the bottom of. They are at the bottom of the taxable income scale.
And they are indeed odd.
The bottom 10% claim an awful lot of capital gains - an average of A$161,000 per capital gains tax payer, which is more than that claimed by any other income group, including the top 10%.
Capital gains make up a large share of their taxable income, larger than for higher income groups, and far lower than for other low income groups. Only around 8% receive government pensions or allowances.
Although their taxable incomes, after deducting net capital gains, are in the bottom 10%, their actual wealth and living standards are likely much higher up the distribution. Many own shares and businesses or have negatively geared investment properties. They get dividend imputation cheques and report business losses.
…although they don’t act like low earners
To get closer to the unvarnished truth, we would need to compare capital gains by household, examining the combined income of each household, which is less easy to manipulate than the income of an individual. But Australia’s tax system is built around individuals, so it’s hard to do. We would also like to know more about their typical income and whether capital gains were likely a one off or something more permanent.
Here’s what we can say:
Labor’s change will “grandfather” existing assets, meaning they will continue to be taxed under the present, more generous, arrangement. This means Labor’s change won’t have much of an effect for years, making any simple guess of how much money it makes an overestimate.
At the moment, personal taxpayers pay A$6.7 billion per year in capital gains tax. Labor’s changes could potentially reap half that amount, but they would build up to it slowly, and by the time they got there, fewer people would look for capital gains as a means of escaping tax, meaning they would never get there, and giving a boost to other kinds of tax revenue.
It’s pretty certain that those who would feel it most would be higher income earners, older Australians, partnered women, quite often on behalf of their higher income partner.<img src="https://counter.theconversation.com/content/109657/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/ben-phillips-98866" target="_blank">Ben Phillips</a>, Associate Professor, Centre for Social Research and Methods, Director, Centre for Economic Policy Research (CEPR), <a href="http://theconversation.com/institutions/australian-national-university-877" target="_blank">Australian National University</a> and <a href="https://theconversation.com/profiles/matthew-gray-229834" target="_blank">Matthew Gray</a>, Director, ANU Centre for Social Research and Methods, <a href="http://theconversation.com/institutions/australian-national-university-877" target="_blank">Australian National University</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/stranger-than-fiction-who-labors-capital-gains-tax-changes-will-really-hurt-109657" target="_blank">original article</a>.
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Who Labor’s capital gains tax changes will really hurt: Ben Phillips & Matthew Gray

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GUEST OBSERVATION 
Australia is <a href="https://mckellinstitute.org.au/research/articles/why-australia-is-the-worlds-most-successful-multicultural-society/" target="_blank">one of the most successful multicultural societies in the world</a>. Nonetheless, in recent times many Australians have come to regard population growth, and particularly immigration, as a problem – at best – to be solved. In contrast, we believe population growth and migration present a creative opportunity to shape new Australian cities unlike any we have built to date.
In a globalised economy where technology has prevailed over geography, Australians are natural global citizens. However, all is not well in multicultural Australia. Recent and credible <a href="https://www.theguardian.com/australia-news/2018/apr/24/australians-growing-more-concerned-over-immigration-guardian-essential-poll" target="_blank">polling</a> indicates that 64% of Australians think the level of immigration over the past decade has been too high – up from 50% in 2016.
We believe such opinions (in part) stem from entrenched migration patterns. Currently <a href="https://www.theaustralian.com.au/national-affairs/immigration/90pc-of-migrants-settling-in-two-cities/news-story/8746797d36bf40f41587d267e8dcdbc4" target="_blank">90% of new arrivals settle in Sydney or Melbourne</a> where they <a href="https://www.propertyobserver.com.au/http://apo.org.au/node/187861" target="_blank">compound housing affordability</a> and congestion issues, among others. Migrants from overseas are the <a href="http://www.abs.gov.au/AUSSTATS/abs@.nsf/Latestproducts/3218.0Feature%20Article12016-17?opendocument&amp;tabname=Summary&amp;prodno=3218.0&amp;issue=2016-17&amp;num=&amp;view=" target="_blank">main contributors to both cities’ populations growing</a> by over 100,000 people each year.
In response to these issues, the Morrison government is <a href="https://www.theaustralian.com.au/national-affairs/cities-fix-pms-plan-to-send-migrants-to-regions-for-five-years/news-story/c8573e68a1438295818d5aab9de5471b">considering a plan</a> requiring some new migrants, including refugees, to settle for up to five years in regional areas.
However, there are limits to this approach. <a href="https://www.aec.gov.au/Elections/federal_elections/2016/files/2016-aec-results-map.pdf" target="_blank">Voting patterns</a> indicate Australians in regional Australia are also often <a href="http://tapri.org.au/?p=529" target="_blank">resistant to increased migration</a>. Moreover, the mechanisation and automation of farming mean that jobs are often scarce.
So what can Australia do?
Australia will need more drastic solutions over the longer term. Refugees now number over <a href="http://www.unhcr.org/en-au/figures-at-a-glance" target="_blank">25 million people</a> worldwide. Due to climate change alone a <a href="https://link.springer.com/article/10.1057/dev.2011.60" target="_blank">deluge of refugees is predicted by 2050, particularly in Asia</a> – 144 million in China, 63 million in India and 62 million in Bangladesh.
In the face of this, demographer <a href="https://www.propertyobserver.com.au/https://www.hardiegrant.com/au/publishing/bookfinder/book/the-big-tilt-by-bernard-salt/9781740668880" target="_blank">Bernard Salt asks</a>:
<blockquote>
What does Australia do? Board and turn back every boat? Leave the refugees without support on the Kimberley coast? Plan to help as many as we can and then hope we can ship back tens of thousands of people?
</blockquote>
Clearly, Australia will need a plan to deal with this situation, particularly given the panic over the <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1617/Quick_Guides/BoatTurnbacks" target="_blank">arrival of small numbers of “boat people”</a> and the Coalition government <a href="https://www.theaustralian.com.au/national-affairs/cities-fix-pms-plan-to-send-migrants-to-regions-for-five-years/news-story/c8573e68a1438295818d5aab9de5471b" target="_blank">reducing immigration to the lowest level in more than a decade</a>. We could bemoan a lack of support for increased immigration in Australia, or instead bear this resistance in mind and try to find a creative (part) solution.
This is where our Refuge City model is potentially instructive. As <a href="https://oldblog.robwiblin.com/2009/10/17/how-possible-is-a-charter-city-of-refugees-in-australia/" target="_blank">Robert Wiblin has urged in the past</a>:
<blockquote>
If Australians are not so enthusiastic about sharing their good luck with refugees [and migrants], a <a href="https://www.caymanfinancialreview.com/2012/10/12/charter-cities-the-future-trade-centres-of-the-world/" target="_blank">charter city</a> administered by Australia will at least allow them access to the governmental and legal institutions which have served Australia so well.
</blockquote>
In line with this sentiment, we have designed an urban model for a bustling, multicultural and entrepreneurial metropolis located on Australia’s northern coast which would run under its own charter. Such a city would provide refuge and opportunity for many migrants, above and beyond what Australia already <a href="https://www.homeaffairs.gov.au/research-and-statistics/statistics/visa-statistics/live/humanitarian-program" target="_blank">accepts through its humanitarian migration program</a>.
A city of cities on the north coast
Why the northern coast? We selected this area because it has many advantages, such as proximity to rapidly growing Indonesia, availability of mineral and energy resources, and – in the case of the Northern Territory – <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-02-27/why-isnt-the-northern-territory-a-state-curious-darwin/9457776" target="_blank">Commonwealth control</a> of land. This is important because it gives the federal government full legislative power to create a charter city unconstrained by opposition from the states.
Refuge City would comprise dense, car-phobic and adaptable urban neighbourhoods (of up to 32,000 people) based partly on migrant ethnicities – forming a city of cities, rather than a monolithic mass of urbanism.
As required, this form would enable different cultural groups to <a href="https://www.propertyobserver.com.au/https://www.amazon.com/Cities-Zero-Andraos/dp/1902902602" target="_blank">follow many of their own cultural practices</a> and develop a <a href="https://www.propertyobserver.com.au/https://www.tandfonline.com/doi/abs/10.1080/01944369708975941" target="_blank">measure of self sufficiency</a>. The design of these neighbourhoods would be developed with the communities and would reference – within limits – the urban traditions of the residents’ home countries so to provide a “home away from home”.
Rather than the cultural model of the “<a href="https://en.wikipedia.org/wiki/Melting_pot" target="_blank">melting pot</a>” – which is under assault in many cities of the world – these urban neighbourhoods would cradle islands of relative cultural specificity yet maintain an overall cultural diversity. Natural areas, recreational open spaces and schools would provide crucial interstitial spaces between the urban islands and their respective communities. Moreover, an integrated bus system and a wide distribution of jobs would also stimulate interactions between communities. This will moderate the cultural specificity of the urban islands over time.
Adapting the charter city model
Like <a href="https://www.aurecongroup.com/thinking/thinking-papers/charter-cities-start-scratch" target="_blank">other charter cities such as Shenzen</a>, an independent government would govern the city, running it with respect to a specific charter. The autonomous government will incorporate an alliance of representatives from Australia’s federal and territory governments and potentially other countries within the Asia-Pacific region and beyond.
The <a href="http://clubtroppo.com.au/2014/10/20/a-charter-city-for-refugees/" target="_blank">charter’s terms, which will define the city’s operation</a>, include a much lower personal and company tax regime than elsewhere in Australia, to stimulate investment and jobs. Businesses would pay workers the Australian minimum wage but would not otherwise offer award wages or conditions. Complementing this will be a basic but liveable social security, housing, education and primary health care system.
On arrival, migrants would receive a <a href="https://www.homeaffairs.gov.au/research-and-statistics/statistics/country-profiles/temporary-migration" target="_blank">temporary visa</a>. They would be able to apply for a <a href="https://www.homeaffairs.gov.au/research-and-statistics/statistics/country-profiles/permanent-migration" target="_blank">skilled migration visa</a> if they gain marketable skills from the city’s trade schools and university campuses, or a permanent business visa if they establish a successful business (both business and education would be conducted in English).
Moreover the city would avoid the need for mandatory offshore detention of arrivals by boat, which the UN Human Rights Council has <a href="https://www.theguardian.com/australia-news/2018/mar/02/scathing-un-migration-report-not-ideal-start-to-australias-human-rights-council-tenure" target="_blank">condemned as a “massive abuse”</a> of migrants. This has in turn profoundly <a href="https://www.theguardian.com/australia-news/2018/mar/02/scathing-un-migration-report-not-ideal-start-to-australias-human-rights-council-tenure" target="_blank">damaged Australia’s moral authority</a> globally. Despite our tarnished reputation, Australian residents would be welcome in Refuge City, whether as students attending global university hubs, starting a business, or enjoying the city’s bustling diversity while on a weekend getaway. Conversely, Refuge City residents would also be able to visit other Australian cities, and in particular Darwin.
Through a leasehold model, Indigenous landholders would maintain ownership of Refuge City land and gain a sustainable and substantial rental income from it. This is not unprecedented. <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/specials/curious-canberra/2016-07-04/can-people-own-land-in-the-act/7550166" target="_blank">Canberra embodies a similar system</a>, with all land leased to “owners” as a Crown lease.
Moreover, given Indigenous culture’s continuing ownership and intimate knowledge of the land, we would develop the Refuge City designs with land councils. Without such sincere engagement, traditional owners would rightly veto new city development under the Aboriginal Land Rights (Northern Territory) Act 1976.
Through our Refuge City model Australians could aid many more refugees than they would otherwise accept as fully fledged immigrants to the existing cities. In so doing, we could make Australia the world’s great 21st-century refuge.
<a href="https://theconversation.com/profiles/julian-bolleter-292111" target="_blank">Julian Bolleter</a>, Deputy Director, Australian Urban Design Research Centre, <a href="http://theconversation.com/institutions/university-of-western-australia-1067" target="_blank">University of Western Australia</a> and <a href="https://theconversation.com/profiles/ken-parish-12678" target="_blank">Ken Parish</a>, Senior Lecturer in Law, <a href="http://theconversation.com/institutions/charles-darwin-university-1066" target="_blank">Charles Darwin University</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/refuge-city-a-new-kind-of-city-for-our-times-106992" target="_blank">original article</a>.
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Refuge City, a new kind of city for our times in Australia's north: Julian Bolleter & Ken Parish

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GUEST OBSERVER
New home sales continued the trend of decline seen throughout 2018.
The HIA New Home Sales Report shows detached house sales fell by 6.7 per cent in the final month of 2018.
Sales during the final quarter of 2018 were 14.9 per cent lower than last year.
While declining home prices in Sydney and Melbourne have made home buyers in these markets far more cautious, the ongoing challenges accessing finance that face many would-be home buyers across the rest of the country continue weigh on new home sales.
New home sales declined steadily throughout 2018. The declines ultimately ended up with sales in December dropping to their lowest level since late-2012.
There is still a large amount of residential building work under way due to residential developments that proceeded with large numbers of off-the-plan sales during 2016, 2017 and early 2018.
These off-the-plan sales have been flowing through the build process and many are now in the construction phase. This high level of building activity is masking a deterioration looming on the horizon.
The slowdown in sales that occurred throughout 2018 shows that the pipeline of new work coming though during 2019 is set to be considerably weaker than we’ve seen in recent years.
Home building activity on the ground is set to decline as the year progresses.
It will be important to watch the trajectory of new home sales during the first half of 2019. This will give us a clear indication of how the contractionary phase of the home building cycle will play out in the second half of 2019 and into 2020.
New South Wales was the only state where sales did not decline during the month (up by 10.0 per cent). Elsewhere sales declined: by 11.8 per cent in Victoria, 9.2 per cent in Queensland, 4.0 per cent in South Australia and 9.2 per cent in Western Australia.
Geordan Murray is a Senior Economist for HIA 
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New home sales at 2012 levels: HIA's Geordan Murray

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Ballarat was the top major city regional performer with 12 percent annual house price growth in 2018, according to the REIV.
It outperformed Greater Geelong which recorded 10.8 percent annual house price growth.
Ballarat is Victoria's third largest precinct, only one hour from Melbourne.
Ballarat has a population of just over 100,000 people, with around 27 percent in rental accommodation, with investors attracted yields averaging 4.4 percent on houses and 5.2 percent on townhouses and units.
Despite the well-documented cooling of inner Melbourne house prices in recent months, Ballarat has been on the radar of buyers with low land prices, from $130,000 to $150,000, and full turnkey house &amp; land packages starting from $410,900.
The strong history of Ballarat provides a sought after niche with period housing, particularly 1900 Victorian-era dwellings.
Ballarat has the benefit of an express train service, with those who commute to Melbourne seeing the trip take around 60 minutes. 
Increasing numbers of new residents to the city has been fuelling demand with Ballarat experiencing 28 percent group within the past 24 months due to growing employment opportunities and the regional lifestyle appeal it offers to many city dwellers.
There's been a heightened infrastructure spend with the Victorian Government spending billions including rail upgrades, relocation of government departments and the hospital refurbishment.
<table dir="ltr" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td>Regional Centres</td>
<td>Dec-18 Quarter</td>
<td>Quarterly Change</td>
<td>Sep-18 Quarter</td>
<td>Annual Change</td>
</tr>
<tr>
<td>Greater Geelong</td>
<td>$555,000</td>
<td>1.80%</td>
<td>$545,000</td>
<td>10.80%</td>
</tr>
<tr>
<td>Greater Bendigo</td>
<td>$352,250</td>
<td>1.80%</td>
<td>$346,000</td>
<td>2.10%</td>
</tr>
<tr>
<td>City of Ballarat</td>
<td>$386,500</td>
<td>1.70%</td>
<td>$380,000</td>
<td>12.00%</td>
</tr>
</tbody></table>
Ballarat is made up of many sub-markets, starting with Ballarat Central.
BALLARAT CENTRAL Lower Quartile: $255,750 Dec-18 Median: $308,000 Upper Quartile: $475,000 Quarterly Change: 11.60%
LAKE WENDOUREE Lower Quartile: $325,000 Dec-18 Median: $500,000 Upper Quartile: $550,000 Quarterly Change: 12.00%
BALLARAT NORTH Lower Quartile: $201,000 Dec-18 Median: $265,000 Upper Quartile: $299,000 Quarterly Change: -4.30%
BALLARAT EAST Lower Quartile: $237,000 Dec-18 Median: $275,000 Upper Quartile: $310,000 Quarterly Change: -0.50%
WENDOUREE Lower Quartile: $167,750 Dec-18 Median: $199,000 Upper Quartile: $337,000 Quarterly Change: -3.40%
ALFREDTON Lower Quartile: $240,000 Dec-18 Median: $288,750 Upper Quartile: $332,000 Quarterly Change: 8.30%
REDAN Lower Quartile: $228,000 Dec-18 Median: $260,975 Upper Quartile: $310,000 Quarterly Change: 3.40%
SEBASTOPOL Lower Quartile: $203,000 Dec-18 Median: $231,000 Upper Quartile: $259,000 Quarterly Change: 0.40%
BROWN HILL Lower Quartile: $255,000 Dec-18 Median: $284,000 Upper Quartile: $295,000 Quarterly Change: 0.60%
MOUNT CLEAR Lower Quartile: $242,500 Dec-18 Median: $275,000 Upper Quartile: $314,556 Quarterly Change: 0.00%
CANADIAN Lower Quartile: $241,000 Dec-18 Median: $279,500 Upper Quartile: $330,000 Quarterly Change: 3.50%
Source REIV
In mid-2018 the Herron Todd White residential report looked at the prestige market noting it "probably kicks in around the $1 million dollar mark, but things really start to get interesting north of about $1.5 million."
These properties are generally situated in Ballarat Central, Lake Wendouree and Invermay with a smattering in Soldiers Hill, Newington and Buninyong.
<div class="column">
In general terms, $1 million to $1.5 million in Ballarat at present will buy you a large fully renovated period dwelling on a block of circa 1,000 square metres.
"If you have more than $1.5 million to $2 million to spend you will be able to get something on Lake Wendouree," the HTW valuer noted.
"It is at this level that the market is considered ultra-prestige."
"The market is being traded mostly by local high net worth individuals and people new to town who have come from markets where the quantum of cash perhaps doesn’t stretch so far. In general purchasers seem to seek high quality locations, with good sized lots and renovated period dwellings."
HTW noted the main drivers of the market are the economic success of Ballarat as a centre.
"This can be measured by population growth, employment growth and perhaps even tourism growth.
"These three measures have performed very well in the past four years and as a result the prestige market has also shown significant growth.
"With further growth in these areas forecast as well as additional local and state government spending, we consider the future growth prospects for the market to be strong.
A Ballarat Central four bedroom sold for $935,000 in April (pictured below).
<a href="https://www.realestate.com.au/sold/property-house-vic-ballarat+central-128084590" target="_blank">Positioned at 217 Windermere St</a>, the Victorian home comes with four bedrooms, open plan kitchen,  spacious lounge/home theatre and landscaped private rear alfresco area.
Further additions include central heating, reverse cycle air-conditioning and double garage.
Positioned on 869sqm, it is within close proximity to cafes and restaurants, the CBD, hospitals and just minutes to the lake and schools.
<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/2018/5/15/%20ballarat%20central%20.jpg" alt="">
A Lake Wendouree three bedroom townhouse was traded for $625,000 (pictured below).
<a href="https://www.realestate.com.au/property-house-vic-lake+wendouree-128325954" target="_blank">The 1/4 Hotham St home </a>features four bedrooms, open plan living/dining area, Victorian Ash kitchen, and low maintenance courtyard garden.
Other features include custom joinery throughout, ducted heating and vacuum, side access to laundry and secure side access.
It is just a couple of blocks from Lake Wendouree and hospitals in this quiet neighbourly street, stroll to cafes, restaurants and Lake amenities.
<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/2018/5/15/Lkae%20wendouree%20.jpg" alt="">
Another Lake Wendouree home, this time representing the median price is <a href="https://www.realestate.com.au/sold/property-house-vic-lake+wendouree-128860942" target="_blank">18 Burnbank Street</a> (pictured below).
Sold for $525,000 last September the house has increased in value by $120,000 since it's 2016 sale price of $405,000.
The three bedroom one bathroom home is set on 549 sqm and is located less than 400 metres from Lake Wenouree itself.
<img src="https://www.urban.com.au/images/2019/1/18/Wendouree.JPG" alt="">
An example of the median sale price in Sebastopol is <a href="https://www.realestate.com.au/sold/property-unit-vic-sebastopol-129925826" target="_blank">4/3 Verdon Street </a> (pictured below).
The property, sold in early December, is currently tenanted at $235 per week.
Sold for $231,000 the two bedroom, one bathroom townhouse saw an increase in price of $36,000 from it's January 2015 sale price of $195,000.
Situated within walking distance of a supermarket, shopping &amp; public transport, the townhouse features a one car garage.
<img src="https://www.urban.com.au/images/2019/1/18/Sebastopol.JPG" alt="">
An example of the median price in Mount Clear is <a href="https://www.realestate.com.au/sold/property-house-vic-mount+clear-128592462" target="_blank">946 Geelong Road</a> (pictured below).
Set on 557 sqm, the three bedroom one bathroom home sold in late July for $268,000.
Last sold in November 2011 for $197,000, the property has increased in value by $71,000 over the past 7 years.
Located in between the Ballarat CBD &amp; Federation University, the property is close to schools, super markets &amp; recreational facilities.
<img src="https://www.urban.com.au/images/2019/1/21/Mount%20Clear.JPG" alt="">
</div>
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Ballarat ranked as Victoria's top regional performer with 12 percent 2018 house price growth: REIV

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GUEST OBSERVATION
Financial well-being isn’t always where you expect to find it, in part it depends on attitude. 
Financial well-being is hard to get a handle on.
That’s because it’s a mix of how people feel and how they objectively are.
And it’s multifaceted, including things such as spending, saving, investing, borrowing, and insuring, and competing goals that involve trade-offs, such as whether to spend or save.
To help, the Melbourne Institute and the Commonwealth Bank have pulled the dimensions together in a collection of measures we think are the first of their kind: the <a href="https://fbe.unimelb.edu.au/newsroom/cba-melbourne-institute-financial-wellbeing-scales" target="_blank">Reported and Observed Financial Well-being Scales</a>.
The results released this week show most Australians are doing OK. They report no difficulty paying necessary expenses, can cover unexpected expenses, and feel on track to provide for their financial futures. However, a substantial minority struggle.
As expected, people’s income, assets, and home ownership play big roles in their financial well-being. But their attitudes, capabilities, and behaviour are probably even more important, meaning good financial well-being is possible even at modest levels of income and wealth.
Two ways of examining well-being
Adapting definitions that have been proposed for Australia and elsewhere, we define financial well-being as the extent to which people both perceive and have
<ul>
<li>
financial outcomes in which they meet their financial obligations
</li>
<li>
financial freedom to make choices that allow them to enjoy life
</li>
<li>
control of their finances, and
</li>
<li>
financial security
</li>
</ul>
now, in the future, and under possible adverse circumstances.
To construct the scales, we sieved through 33 self-reported survey measures and 17 bank-record measures that captured different elements of our definition. Formal analyis resulted in our two distinct but related scales.
The first, which we call the CBA-MI Reported Financial Well-being Scale, uses people’s answers to 10 survey questions about how they feel; about things such as dealing with their expenses, building up savings, and control over their finances.
The second, which we call the CBA-MI Observed Financial Well-being Scale, uses data from people’s bank records about their balances, payment problems, and ability to cover unexpected expenses.
The two scales move together. People with high levels of financial well-being on one scale tend to have high levels on the other.
However, the two scales are distinct and capture different aspects of well-being, complementing each other and jointly providing a fuller picture than either could alone.
<a href="https://images.theconversation.com/files/254272/original/file-20190117-24622-8qacip.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/254272/original/file-20190117-24622-8qacip.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
(Source: <a class="source" href="https://fbe.unimelb.edu.au/newsroom/cba-melbourne-institute-financial-wellbeing-scales" target="_blank">Melbourne Institute - Commonwealth Bank</a>)
What do the measures tell us?
On average, Australians enjoy moderate to high levels of financial well-being, but many experience problems. About a quarter of people report difficulty meeting their necessary expenses, and more than a third report not being able to handle a major unexpected expense or not having enough money for future financial needs.
When it came to characteristics associated with financial well-being, we find that people who earn more and own more assets enjoy higher well-being on average. Home-owners, healthier people, and married couples also tend to have a higher financial wellbeing. But within these categories financial well-being can vary.
Both measures of well-being are higher for people who balance their spending and savings, have strong savings habits, always pay their credit card balances, sacrifice for the future, and actively plan and budget.
And there are surprises.
Retirees and older people tend to enjoy higher financial well-being than younger people, contrasting with the view that retirement is accompanied by financial distress.
People with high mortgage debt and large housing costs also experience higher levels of well-being, although this may be associated with the wealth that is associated with their homes.
The strong agreement between the two scales reassures us that they are indeed measuring financial well-being. However, the scales sometimes diverge, particularly when measuring the financial well-being of people with complex financial situations, including immigrants and business owners.
Improving financial well-being
The low levels of financial well-being experienced by some Australians are a cause for concern. Our measures can help identify these people and their circumstances.
More importantly, they tell us that people in similar circumstances can experience very different levels of financial well-being, telling us there is considerable scope for improving outcomes.
And the strong associations of well-being with financial attitudes, capabilities, and behaviours — all characteristics that can be changed — point to promising avenues for interventions.<img src="https://counter.theconversation.com/content/103431/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/david-c-ribar-411239" target="_blank">David C. Ribar</a>, Professorial Research Fellow, <a href="http://theconversation.com/institutions/university-of-melbourne-722" target="_blank">University of Melbourne</a> and <a href="https://theconversation.com/profiles/nicolas-salamanca-565981" target="_blank">Nicolás Salamanca</a>, Research Fellow, <a href="http://theconversation.com/institutions/university-of-melbourne-722" target="_blank">University of Melbourne</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-financially-well-off-defy-the-stereotypes-they-include-retirees-and-mortgagees-103431" target="_blank">original article</a>.
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The financially well-off defy the stereotypes.They include retirees, and mortgagees

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Mixed results out of Western Australia’s economy have coincided with continued weakness in its housing market, which is expected to cool further in 2019, according to the latest report from Moody's Analytics.
The report found that the labour market in Western Australia improved, with the unemployment rate falling in October to 5.4%, still a tick above the nation’s average, while the state’s wage growth is among the lowest in Australia.
<img src="https://www.urban.com.au/images/2019/1/8/WA%20graph%202.JPG" alt="">
Greater Perth’s home values fell -4.4% last year and is set to continue that trend into 2019 with a decrease of -2.1% in house values and -2.8 in unit values.
However Moody's Analytics is predicting a turnaround in 2020 and is forecasting growth of 3.3% for both houses and units.
Mandurah is forecast to have the highest reduction in apartment values of anywhere in Australia in 2019, -14%, while houses will see value reductions of just -2.4%. 
In contrast Mandurah is predicted to have the biggest increases in WA in both houses (7.8%) and units (4.8%) in 2020.
Inner Perth is the only region in WA whose house prices have come off the back of a year of growth and is forecast to grow a further 4.7% in 2019.
Unit values however are set to decrease 4.3% in 2019.
Perth North East will have the highest reduction in house values in 2019 at -8%, while apartments will remain relatively stable losing only -0.1%.
It is the only region that houses wont experience price growth in 2020.
Perth North West will have reductions in house values of -0.1% in 2019 and reductions in apartment values of -3.3%, according to Moody's Analytics.
Both houses and units in South East Perth will experience value reductions in 2019 with house values decreasing by -4.6% and unit values decreasing by -4.1%.
South West Perth is the only WA region forecast to have an increase in unit values of in 2019, 4.7%, while house values are decrease by -5.4%.
In Bunbury house values are forecast to fall by -6.3% in 2019 before making a recovery in 2020 of 2.4%.
The housing market in Western Australia is not expected to recover until 2020 as discussed, and values are not expected to surpass their 2015 peak through the next five years.
Although the housing slump is expected to continue, population growth in Greater Perth and Western Australia has stabilised after falling sharply from 2015 to 2016, despite sizeable outward interstate migration.
<img src="https://www.urban.com.au/images/2019/1/8/WA%20graph%201.JPG" alt="">
Rental values fell more than 20% peak to trough from May 2013 to November 2017, a sign of continued excess supply.
During the fall, building approvals also slowed significantly.
Since then, rental values have remained broadly stable. 
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
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House prices in Greater Perth forecast to fall 2.8% in 2019: Moody's Analytics

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GUEST OBSERVATION
The proportion of households experiencing <a href="https://theconversation.com/two-pictures-of-rental-housing-stress-and-vulnerability-zero-in-on-areas-of-need-77714" target="_blank">rental stress</a> is on the rise across Australia’s major cities. High rental prices have been driving an increase in shared housing. The most extreme form of this is “shared room” housing – where residents share a bedroom or partitioned living space (such as lounge room or garage) with a number of unrelated adults.
Official statistics, such as those collected by the Australian Bureau of Statistics, fail to accurately record room sharing. Public knowledge is limited to anecdotal stories or periodic media coverage of tragic outcomes of living in shared room housing – such as a 2012 apartment <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2015-06-16/landlord-questioned-over-bankstown-fire-unit-at-inquest/6549656" target="_blank">fire that led to the death of an international student</a> in Bankstown, Sydney.
However, the growth of online advertising platforms can provide new insights into shared housing across our cities. For <a href="https://doi.org/10.1080/08111146.2018.1556632" target="_blank">our recently published research</a>, we analysed 1,018 room-sharing listings for Sydney on gumtree.com.au between February and April 2017. While focusing on Sydney, the insights we present here are relevant to all Australian cities.
Who lives in shared rooms and where?
Sharing a room is typically short-term accommodation which allows residents to secure low-cost housing in well-located parts of the city, close to services and employment or education (typically universities). It’s an option most likely to appeal to young and mobile populations. Evidence suggests that international students, holidaymakers (those staying longer than typically housed via services such as Airbnb) and young professionals are most likely to live in shared rooms.
Thus, it’s no surprise that suburbs surrounding the Sydney CBD had the most shared room accommodation. The suburbs of Sydney, Pyrmont, Ultimo, Haymarket and Chippendale (Sydney City local government area – 409 rooms advertised), Bondi Beach and Bondi Junction (Waverley LGA – 80 rooms advertised) recorded the highest numbers. Beyond the CBD, Parramatta, Auburn, Strathfield, Chatswood, Lakemba and Rockdale had relatively high numbers of listings. Parramatta LGA recorded the third-highest number (76).
<a href="https://images.theconversation.com/files/247856/original/file-20181129-170238-1p15j7y.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/247856/original/file-20181129-170238-1p15j7y.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 (Author provided)
These suburbs are well connected by public transport to employment and education opportunities. A number of these locations are immigrant gateways with diverse cultural and ethnic profiles. This suggests shared rooms are an important form of housing for recently arrived migrants.
How many people share a room?
The suburbs with the highest numbers of advertised shared rooms also had more people per shared room. For example, Sydney, Pyrmont, Ultimo, Haymarket, Chippendale, Surry Hills and Darlinghurst (all in Sydney City LGA) had average occupancy rates of more than 2.5 occupants per room. It was not uncommon for two-bedroom apartments to have between 5 and 14 occupants.
<a href="https://images.theconversation.com/files/247858/original/file-20181129-170250-620rlf.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/247858/original/file-20181129-170250-620rlf.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 (Author provided)
In terms of overcrowding (using <a href="https://theconversation.com/overcrowded-housing-looms-as-a-challenge-for-our-cities-96110" target="_blank">the “no more than two persons per room” standard</a>), more than a quarter (27%) of residents living in shared rooms included in this study were in overcrowded dwellings. Inner-city suburbs recorded the highest rate, with 40% of residents in overcrowded dwellings. In middle and outer suburbs, 14% and less than 1% of residents lived in overcrowded dwellings respectively.
It’s more affordable, and profitable too
People’s willingness to live in shared room housing is due mainly to it being cheaper. Our study revealed that shared rooms are rented for much less than the rate paid in the wider private rental market.
For example, in Haymarket, where the average occupancy is three people per room, the weekly rent per resident sharing with two others was $150. This was well below the median weekly rent for a private room in a two-bedroom apartment ($455) or a private one-bedroom apartment/studio ($643).
Adding to the relative affordability of shared room housing, rent typically includes furniture and utility bills. Bond payments are also lower.
Access to this form of housing is easier, too, because formal requirements such as identity and rental history checks are removed. This means residents are typically not covered by formal leasing arrangements and the legal protections that go with them.
The other side of the shared room equation is that it’s an extremely profitable form of housing for landlords – or tenants subletting dwellings. The rent generated per dwelling in shared room housing is well above the rental income if the property was leased to the private market.
For example, in Chatswood the median weekly rent for a two-bedroom apartment with shared bedrooms was $1,020. For a two-bedroom private (non-shared) apartment the median weekly rent was $785. The $235-per-week difference represents a 30% profit margin for landlords/tenants who convert properties into shared room accommodation. This financial premium is observed across most higher-demand shared-room suburbs in Sydney.
<a href="https://images.theconversation.com/files/247864/original/file-20181129-170235-yad3kd.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/247864/original/file-20181129-170235-yad3kd.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 (Author provided)
Policy and regulatory reforms are needed
Shared rooms raise a series of policy and regulatory concerns.
<ul>
<li>
Rooms are usually sublet accommodation without written tenancy agreements. This leaves occupants in a precarious form of housing. They are often uncertain of their tenancy rights and reluctant to make claims for fear of being evicted
</li>
<li>
shared room rentals typically occur “off the books”, paid for in cash without written receipts. Thus, rental income for landlords and subletting tenants does not appear as income for taxation purposes
</li>
<li>
the allure of higher rental income per property increases chances of overcrowding as more tenants are squeezed into bedrooms and partitioned living spaces
</li>
<li>
the higher rental returns are also likely to remove housing stock from the market for other household types, as dwellings previously available for long-term tenancies are converted to shared room accommodation
</li>
<li>
unlike <a href="https://www.gov.uk/house-in-multiple-occupation-licence" target="_blank">share houses in the UK</a> and our <a href="https://www.fairtrading.nsw.gov.au/housing-and-property/strata-and-community-living/boarding-houses" target="_blank">boarding</a>/<a href="https://www.consumer.vic.gov.au/licensing-and-registration/rooming-house-operators">rooming</a> houses, private landlords are unable to obtain permits from city authorities to convert properties into shared accommodation. This limits the transparency of “responsible” landlords
</li>
<li>
overcrowded properties can lead to structural risks when illegal bedrooms are added and to infrastructure pressures such as low water and gas supply
</li>
<li>
noise and safety-related conflicts are increasingly reported in dwellings (mainly apartments) inhabited by both family (non-shared) and shared households
</li>
<li>
monitoring mechanisms are ineffective. Current inspection laws require that the landlord is notified prior to inspection. This favours landlords/head-tenants who are able to alter the number of tenants before an inspection.
</li>
</ul>
With affordable rental housing in short supply in Australia’s major cities, shared room accommodation is likely to increase. This has profound implications for residents of these rooms, local housing markets and government agencies.
Authors: Zahra Nasreen, a PhD Scholar in Planning and Geography, Macquarie University and Kristian Ruming, an Associate Professor in Urban Geography, Macquarie University
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/tracking-the-rise-of-room-sharing-and-overcrowding-and-what-it-means-for-housing-in-australia-107265" target="_blank">original article</a>.
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Tracking the rise of room sharing and overcrowding, and what it means for housing in Australia

The long-awaited redevelopment of the former Eastlakes Shopping Centre site has reached a major milestone, with Conquest's plans for a new mixed-use precinct officially placed on public exhibition.

The State Significant Development Application would transform the 1.7-hectare site at <a href="https://www.apartments.com.au/new-apartments/19a-evans-avenue-eastlakes-nsw-2018">19A Evans Avenue</a> into one of Sydney's largest urban renewal projects, delivering 736 apartments above a new shopping centre anchored by Woolworths, alongside specialty retail, dining, commercial space and new public open spaces.

The public exhibition marks the next chapter for the project after <a href="https://www.apartments.com.au/developers/conquest">Conquest</a> acquired the stalled Stage Two development from Crown Group, who completed the first stage across the road prior to their voluntary liquidation.

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="5fca22c5-d1ed-4e2c-8801-03f7df1eafc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland%20podium.png?VersionId=uomwr41nF8CmLUZRDcu3mHQechlbxucS" />

&nbsp;

Designed by DKO Architecture, the proposal comprises four residential buildings ranging from 14 to 18 storeys above a two-level retail podium. The development would deliver 736 apartments, including 74 affordable homes, 215 Build-to-Rent apartments and 521 market residences. Provision has also been made for dual-key apartments, which could increase the total number of dwellings to 877.

At ground level, the shopping centre has been designed as the suburb's new meeting place, anchored by a full-line Woolworths and complemented by a curated mix of fresh food retailers, cafés, restaurants, health services and everyday convenience shopping. Generous pedestrian links and landscaped public spaces will connect the retail precinct through to Jack Mundey Reserve, creating a more walkable and connected neighbourhood.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

"Eastlakes has been overlooked for too long, and this is the community’s moment. We are building a shopping centre and homes, a genuine heart for the suburb, and we genuinely want locals to help shape it."

"We enrich communities through the creation of homes, places, and experiences designed for life, built to last, and owner for generations. That starts with listening, so we warmly encourage everyone with a connection to Eastlakes to view the plans and share their thoughts."

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="22f6fb20-54fb-4bd7-8a92-48fafdd00608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland.png?VersionId=cugp7s9hrMHGJJdYzkeAkrFoQgnF4GXf" />

DKO said the design had been shaped by the site's landscape setting and surrounding open space.

"Our vision for the site embraces its unique Bidjigal identity by blending the residential living with generous landscaping and a material palette inspired by the Bidjigal locality, and celebrating the panoramic views to Botany Bay and the wetlands reserves."

"Taking cues from Country, we seek to harmonise built form with the landscape and lightly touch the earth. By reconnecting, retaining and regenerating existing ecology, and weaving in natural elements, we can deepen our connection to Country."

The landscape strategy extends across the podium and rooftops, incorporating communal gardens, children's play areas, lawns, community gardens, family gathering spaces and extensive tree planting. New landscaped links will also strengthen the connection between the precinct and Jack Mundey Reserve, while publicly accessible open spaces have been integrated throughout the development.

The proposal builds on Conquest's broader placemaking strategy for the site. Through an ongoing partnership, local artist Joe Rashbrook has been appointed Urban Art Curator, working alongside young residents to transform the project's site hoardings into a public art gallery that allows the community to engage with the redevelopment before construction is complete.

Conquest has rapidly expanded its development pipeline since acquiring the Eastlakes site, with more than $6 billion worth of mixed-use projects now in planning across Sydney, including Stanmore, Castlecrag and Waterloo.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

Joel Robinson

First look: ‘Far more than replacing a shopping centre’ as Conquest unveils 736-home Eastlakes redevelopment

Abadeen has lodged a State Significant Development Application (SSDA) for one of Mosman's largest apartment developments in recent years, seeking approval to transform the former Honeysuckle Garden and Midas site on Military Road into a 100-apartment mixed-use development.

The SSDA, lodged with investment partner Phoenix Property Investors, proposes around $230 million worth of new housing on the prominent <a href="https://www.apartments.com.au/new-apartments/494-516-military-road-mosman-nsw-2088">494-516 Military Road</a> site.

The proposal comes as Mosman Council continues to progress its recently endorsed Masterplan, which identifies the precinct for increased housing density while maintaining the suburb's established character.

Designed by DKO Architecture, the development would comprise 100 apartments above ground-floor retail, with a rooftop wellness precinct including a gym, sauna, entertaining areas and landscaped communal spaces.

Rather than pushing to the full 12-storey height identified in Council's Masterplan, the proposal ranges between five and nine storeys, stepping down towards Hale Road. A tenth level would accommodate resident amenities rather than additional apartments.

The project has been designed to appeal to a broad range of buyers, from first home buyers and young professionals through to families and local downsizers looking to remain on the Lower North Shore.

<img alt="Mosman" data-entity-type="file" data-entity-uuid="5dada03f-5b4c-43ba-ba62-2868add31440" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.57.55%E2%80%AFAM.png?VersionId=7LBy0B.Jo8_iWAFJsClcV7Q3UnXrv49r" />

Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock.

"The apartments have been designed as genuine long-term homes, with efficient floorplans that maximise usable living areas, generous storage, natural light and strong connections between indoor and outdoor spaces," Brown says."

"We've focused on creating homes for a broad range of buyers, from first home buyers and growing families through to downsizers who want to remain in Mosman."

The rooftop wellness offering forms a key part of the proposal, with residents set to have access to a gym, sauna, outdoor entertaining spaces, communal dining areas, landscaped gardens and a multi-use recreation court overlooking Sydney Harbour.

<img alt="Mosman" data-entity-type="file" data-entity-uuid="d37c2d6b-583a-4a0f-b7a9-9f46b893d2f4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.58.06%E2%80%AFAM.png?VersionId=FPoa5FCm2RtzjhAh2w5FTWJbV6GHfY8D" />

DKO drew heavily on the site's natural and cultural history, undertaking a Connecting with Country process with local Aboriginal Elders to inform the architectural and landscape design.

Senior Associate Matthew Ritchard said the design sought to create a building that responded to both the site's landscape and its cultural significance.

"The architectural language of the project is a deep expression of Connecting with Country, where the materiality and colour palette serve as a bridge between the site's geological history and its future as a residential sanctuary."

The proposal also retains the site's established blue gum tree as the centrepiece of the communal landscaped gardens, while introducing activated retail fronting Military Road to strengthen the connection between Mosman and Cremorne villages.

If approved, the project would deliver 100 new homes within walking distance of shops, public transport, schools and local amenities, adding to the limited pipeline of new apartments on the Lower North Shore.

<h2>Project Snapshot</h2>

Project: Honeysuckle Garden Redevelopment

Address: 494-516 Military Road, Mosman

Developer: Abadeen and Phoenix Property Investors

Architect: DKO Architecture

Lead Architect: Matthew Ritchard

Value: $230 million

Residences: 100 apartments

Key features:

<ul>
	<li>
	Ground-floor retail
	</li>
	<li>
	Rooftop wellness precinct
	</li>
	<li>
	Gym and sauna
	</li>
	<li>
	Outdoor entertaining and BBQ areas
	</li>
	<li>
	Landscaped communal gardens
	</li>
	<li>
	Multi-use recreation court
	</li>
	<li>
	Retained mature blue gum tree
	</li>
	<li>
	Connecting with Country design process
	</li>
	<li>
	Harbour, CBD and Balmoral views from upper-level apartments
	</li>
</ul>

Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock

First look: Abadeen plans 100 apartments on former Honeysuckle Garden site in Mosman

The wave of apartment proposals sweeping through Mosman shows no signs of slowing, with another major residential development lodged through the NSW Government's State Significant Development pathway.

Developer First Quadrant Properties, which recently completed Willoughby Grounds and has several projects in planning across the North Shore, has unveiled plans for <a href="https://www.apartments.com.au/new-apartments/cove-on-ourimbah-40-56-ourimbah-road-mosman-nsw-2088">Cove on Ourimbah</a>, a 63-apartment development on Ourimbah Road, adding to the growing pipeline of projects reshaping one of Sydney's most tightly held harbour suburbs.

The proposal would consolidate nine properties at 40-56 Ourimbah Road into a part eight, part nine-storey apartment building, continuing the momentum created by the NSW Government's accelerated planning pathways that have seen several significant developments emerge across Mosman over the past 12 months.

Designed by Doroch Architects, the project would deliver 63 apartments, resident wellness facilities including a gym, pool and sauna, landscaped communal spaces and basement parking, while using recessed upper levels, generous setbacks and extensive planting to reduce the perceived scale of the building.

<img alt="First look: First Quadrant Properties eyes nine-storey Mosman apartment project under State Significant pathway" data-entity-type="file" data-entity-uuid="32ee68e4-141e-4a10-8f83-48e961a5e71e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ourimbah%20Road%2C%20Mosman%20a.png?VersionId=CUeILFc6APlwXPc.iplElbxHvREKwjig" />

Doroch Architects said the building had been designed to reinforce Mosman's established character.

"The building's aesthetic is grounded in the existing residential character of Ourimbah Road and the broader Mosman context," the architect noted in the planning documents submitted to the NSW Government.

The design adopts a contemporary material palette of natural stone, textured concrete and brown concave metal cladding, complemented by integrated planters and deep balconies. The podium incorporates softened curved concrete forms, while increased setbacks have been provided adjacent to the heritage-listed property at 60 Ourimbah Road to create a more sympathetic transition.

The site sits around 330 metres from Mosman Town Centre, placing it within the NSW Government's Low and Mid-Rise Housing policy area, where increased residential density is being encouraged close to shops, transport and services.

The proposal follows a string of major apartment projects lodged or declared State Significant in Mosman in recent months, including Abadeen's 100-apartment Honeysuckle Garden redevelopment on Military Road and several other developments across Awaba Street, Redan Street and Muston Street from the likes of Time &amp; Place, HELM and Prosker Property.

&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Time &amp; Place to take on Mosman apartment market</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/first-look-abadeen-plans-100-apartments-on-former-honeysuckle-garden-site-in-mosman">First look: Abadeen plans 100 apartments on former Honeysuckle Garden site in Mosman</a>

&nbsp;

First look: Another major apartment proposal signals Mosman's development boom

A new State Significant Development Application (SSDA) could reshape a prominent vacant site in Gosford's CBD, with Ming Tian Real Property proposing a mixed-use precinct that combines affordable housing, retail activation and a new public plaza.

The proposal for 43-45 Beane Street and 2 Keevers Lane would deliver a <a href="https://www.apartments.com.au/new-apartments/43-45-beane-street-gosford-nsw-2250">two-building development</a> comprising a 26-storey residential tower and a five-storey affordable housing building above ground-floor commercial space. A key focus of the project is the delivery of dedicated affordable housing alongside new public domain improvements designed to transform Keevers Lane into a more active urban destination.

Designed by <a href="https://www.apartments.com.au/architects/tony-owen-partners">Tony Owen Partners</a>, the development would provide 130 apartments, including 20 affordable housing dwellings managed by a registered community housing provider for at least 15 years. The market housing component comprises 110 apartments across a mix of one, two and three-bedroom residences, while the affordable housing includes six one-bedroom, 13 two-bedroom and one three-bedroom apartment. The proposal also incorporates 416 sqm of ground-floor retail, three basement levels accommodating 140 car spaces, 42 bicycle spaces, communal open space and extensive landscaping.

<img alt="First look: Ming Tian Real Property plans landmark affordable housing tower for Gosford city centre" data-entity-type="file" data-entity-uuid="9b858791-9060-4ee7-9178-44cb9e640a85" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Beane%20Street%20b_0.png?VersionId=_jbY0mqPEs7.jBZxozR7d6T4u85FoPmb" />

The affordable housing component has been distributed across both buildings, with four apartments located within the main tower and a dedicated five-storey building delivering a further 16 affordable homes. The project also includes 12 adaptable apartments and 24 dwellings designed to Silver Level Liveable Housing Guidelines.

The architectural design draws inspiration from Indigenous storytelling.

"The design is based on the indigenous motif of the Rainbow Serpent," Tony Owen Partners said in the Design Verification Statement.

"The Rainbow Serpent is a traditional totem of coastal eastern Australia. It represents natural forces, creation, change, and rebirth and is often associated with bodies of water. This motif can be seen in the undulation of the balconies rising on the building," Tony Owen Partners said in the Design Verification Statement.

Beyond the residential offering, the proposal seeks to revitalise the surrounding public realm, particularly Keevers Lane.

"The ground floor streetscape includes a commercial and dining precinct which will significantly improve the amenity of the area. This strategy transforms a currently inhospitable laneway into a thriving centre of urban renewal and day and night time activation to compliment the new adjoining UNC facilities," the architects said.

<img alt="First look: Ming Tian Real Property plans landmark affordable housing tower for Gosford city centre" data-entity-type="file" data-entity-uuid="36b0ca6b-af15-424c-81db-9f3049c07b0c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Beane%20Street%20podium.png?VersionId=QCAv7bCitrg3zIGZUHI2z_HR8qVfKbp1" />

The Environmental Impact Statement notes that the project aims to "improve the provision of diverse housing options within Gosford City Centre, enhancing the mixed-use precinct by delivering high quality residential development, whilst concurrently providing a diverse range of housing choices through the provision of affordable housing, which is in growing need within the Gosford City Centre."

The site occupies approximately 2,070 sqm in the Gosford city centre, around 250 metres from Gosford Railway Station and within walking distance of Gosford Hospital, Mann Street's retail precinct and the University of Newcastle's Gosford campus currently under construction. The currently vacant site previously received approval for a lower-scale residential development, with the new proposal leveraging the NSW Government's in-fill affordable housing pathway to increase density while introducing dedicated affordable housing.

First look: Rainbow Serpent inspires bold new Gosford apartment tower

Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

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