<html><body>
<div dir="ltr" align="left"><span dir="ltr">Sydney’s median house price decreased by 1.9 per cent to $1,167,516 over the September quarter; the steepest decline in house prices of the state's capital cities.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<span dir="ltr"> It was the first quarterly fall in the local market since December 2015, </span>said Domain chief economist, Dr Andrew Wilson.</div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr">“The drop in Sydney’s house prices over the September quarter reflects the diminishing impact of the record-low interest rates that have fuelled market recently.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">"While Sydney’s property market has been the star performer nationally – with prices essentially doubling over the last five years –  affordability barriers are now acting to slow down demand and moderate price increases.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">“The significant decrease in investor activity, as well as tightened lending restrictions for residential investors, has had a clear impact on the Sydney market. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">"We saw a similar house price dip in 2015, when similar policies were introduced."</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Despite recording a decline in both house and unit prices, Sydney clearly remains the highest priced of all capitals, well ahead of the next-highest, Melbourne, Dr Andrew Wilson noted.</span></div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr">Sydney unit prices also dropped - by 0.8 per cent over the quarter to $732,321, but despite the decrease, remain 4.5 per cent higher than the same time last year.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Median house rents in the Harbour city remained steady at $550 per week, as did median unit rents. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">While steady over the quarter, the results are up year-on-year by 3.8 per cent and 4.8 per cent respectively.</span></div>
<div dir="ltr" align="left">
<div id="1468469170927-5">
<div class="wpb_text_column wpb_content_element ">
<div class="wpb_wrapper">
<p class="domain-table-title">Domain quarterly stratified median house prices</p>
<div>
<table class="domain-table">
<thead><tr>
<td>HOUSE</td>
<td>SEP 2017</td>
<td>JUN 2017</td>
<td>SEP 2016</td>
<td>QOQ %</td>
<td>YOY %</td>
</tr></thead>
<tbody>
<tr>
<td>Sydney</td>
<td>$1,167,516</td>
<td>$1,190,677</td>
<td>$1,079,309</td>
<td class="negative">-1.9%</td>
<td class="positive">8.2%</td>
</tr>
<tr>
<td>Melbourne</td>
<td>$880,902</td>
<td>$869,598</td>
<td>$773,399</td>
<td class="positive">1.3%</td>
<td class="positive">13.9%</td>
</tr>
<tr>
<td>Brisbane</td>
<td>$551,840</td>
<td>$552,874</td>
<td>$531,767</td>
<td class="negative">-0.2%</td>
<td class="positive">3.8%</td>
</tr>
<tr>
<td>Adelaide</td>
<td>$519,517</td>
<td>$520,846</td>
<td>$498,971</td>
<td class="negative">-0.3%</td>
<td class="positive">4.1%</td>
</tr>
<tr>
<td>Perth</td>
<td>$554,095</td>
<td>$561,391</td>
<td>$567,314</td>
<td class="negative">-1.3%</td>
<td class="negative">-2.3%</td>
</tr>
<tr>
<td>Canberra</td>
<td>$723,980</td>
<td>$693,962</td>
<td>$655,468</td>
<td class="positive">4.3%</td>
<td class="positive">10.5%</td>
</tr>
<tr>
<td>Hobart</td>
<td>$409,592</td>
<td>$392,170</td>
<td>$356,916</td>
<td class="positive">4.4%</td>
<td class="positive">14.8%</td>
</tr>
<tr>
<td>Darwin</td>
<td>$593,329</td>
<td>$615,670</td>
<td>$610,510</td>
<td class="negative">-3.6%</td>
<td class="negative">-2.8%</td>
</tr>
<tr>
<td>National</td>
<td>$819,455</td>
<td>$823,381</td>
<td>$758,367</td>
<td class="negative">-0.5%</td>
<td class="positive">10.8%</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
</div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr">The median house price in most capital cities declined over the September quarter, with the national median house price experiencing its sharpest dip in six years, according to the September quarter Domain State of the Market Report - Metro.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">As tighter lending conditions come into play, demand for property in Sydney, Brisbane, Adelaide, Perth, and Darwin decreased over the quarter, with Sydney reporting one of the steepest declines in house prices of the capitals. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Hobart, Canberra, and Melbourne were the only cities to record house price growth over the quarter.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Median unit prices across the country varied over the September quarter, with Hobart and Melbourne experiencing surges in unit price growth, while Brisbane, Perth, Sydney, and Darwin recorded declines in unit prices.<br> </span></div>
<div dir="ltr" align="left">
<p class="domain-table-title">Quarterly stratified median unit prices</p>
<div>
<table class="domain-table">
<thead><tr>
<td>UNIT</td>
<td>SEP 2017</td>
<td>JUN 2017</td>
<td>SEP 2016</td>
<td>QOQ %</td>
<td>YOY %</td>
</tr></thead>
<tbody>
<tr>
<td>Sydney</td>
<td>$732,321</td>
<td>$738,227</td>
<td>$700,656</td>
<td class="negative">-0.8%</td>
<td class="positive">4.5%</td>
</tr>
<tr>
<td>Melbourne</td>
<td>$<span>506,334</span>
</td>
<td>$<span>489,472</span>
</td>
<td>$<span>454,644</span>
</td>
<td class="positive">3.4%</td>
<td class="positive">11.4%</td>
</tr>
<tr>
<td>Brisbane</td>
<td>$<span>376,685</span>
</td>
<td>$<span>390,407</span>
</td>
<td>$<span>402,712</span>
</td>
<td class="negative">-3.5%</td>
<td class="negative">-6.5%</td>
</tr>
<tr>
<td>Adelaide</td>
<td>$<span>313,074</span>
</td>
<td>$<span>308,223</span>
</td>
<td>$<span>305,156</span>
</td>
<td class="positive">1.6%</td>
<td class="positive">2.6%</td>
</tr>
<tr>
<td>Perth</td>
<td>$<span>351,875</span>
</td>
<td>$<span>377,132</span>
</td>
<td>$<span>381,065</span>
</td>
<td class="negative">-6.7%</td>
<td class="negative">-7.7%</td>
</tr>
<tr>
<td>Canberra</td>
<td>$<span>427,391</span>
</td>
<td>$<span>419,451</span>
</td>
<td>$<span>429,751</span>
</td>
<td class="positive">1.9%</td>
<td class="negative">-0.5%</td>
</tr>
<tr>
<td>Hobart</td>
<td>$<span>323,174</span>
</td>
<td>$<span>304,077</span>
</td>
<td>$<span>257,214</span>
</td>
<td class="positive">6.3%</td>
<td class="positive">25.6%</td>
</tr>
<tr>
<td>Darwin</td>
<td>$<span>330,354</span>
</td>
<td>$<span>354,584</span>
</td>
<td>$<span>475,199</span>
</td>
<td class="negative">-6.8%</td>
<td class="negative">-30.5%</td>
</tr>
<tr>
<td>National</td>
<td>$<span>570,148</span>
</td>
<td>$<span>570,277</span>
</td>
<td>$<span>547,263</span>
</td>
<td>0.0%</td>
<td class="positive">4.2%</td>
</tr>
</tbody>
</table>
<p>Dr Andrew Wilson, said capital city housing markets generally tracked backward over the September quarter as the lower interest rate driver of recent years dissipated.</p>
</div>
</div>
<div dir="ltr" align="left">"Actions by policymakers to restrict residential investor activity through tighter lending conditions to that group have also acted to weaken prices growth over the last three months.”</div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr">For investors, Hobart continues to provide the best gross rental yields for houses with 5.29 per cent recorded over the September quarter. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Sydney and Melbourne continue to record the lowest gross rental yields for houses of all capital cities, sitting at 3.12 per cent and 3.34 per cent respectively.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Canberra is the top performer for gross rental yields for units recording a result of 5.77 per cent over the quarter, closely followed by Darwin and Hobart at 5.65 per cent and 5.53 per cent respectively.<br> </span></div>
</div>
<span style="color: #222222; font-size: small;"><span dir="ltr"><br></span></span>
</div>
</div>
</div>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Sydney house prices suffer deepest September quarter decline: Domain

<html><body>
<div dir="ltr" align="left"><span dir="ltr">The median house price in Melbourne increased 13.9 per cent year-on-year. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">But the rate of growth in the September quarter was the slowest for Melbourne since the September quarter 2014.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<div dir="ltr" align="left">
<span dir="ltr">The median house price in Melbourne increased 1.3 per cent over the September quarter to $880,902, the</span> Domain Chief Economist, Dr Andrew Wilson said.</div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Median unit prices in Melbourne grew significantly, increasing by 3.4 per cent over the September quarter to a new record high of $506,334. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">"This means that year-on-year, unit prices have now increased by an incredible 11.4 per cent," Dr Wilson said.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">"The results suggest that recent record levels of new apartment development have had a negligible impact on price, with demand continuing to absorb higher levels of supply."<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">While the median rental price for houses in Melbourne remained steady over the September quarter, sitting at $420 per week, rental prices are up 5 per cent over the last 12 months.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<div dir="ltr" align="left">
<div id="1468469170927-5">
<div class="wpb_text_column wpb_content_element ">
<div class="wpb_wrapper">
<p class="domain-table-title">Domain quarterly stratified median house prices</p>
<div>
<table class="domain-table">
<thead><tr>
<td>HOUSE</td>
<td>SEP 2017</td>
<td>JUN 2017</td>
<td>SEP 2016</td>
<td>QOQ %</td>
<td>YOY %</td>
</tr></thead>
<tbody>
<tr>
<td>Sydney</td>
<td>$1,167,516</td>
<td>$1,190,677</td>
<td>$1,079,309</td>
<td class="negative">-1.9%</td>
<td class="positive">8.2%</td>
</tr>
<tr>
<td>Melbourne</td>
<td>$880,902</td>
<td>$869,598</td>
<td>$773,399</td>
<td class="positive">1.3%</td>
<td class="positive">13.9%</td>
</tr>
<tr>
<td>Brisbane</td>
<td>$551,840</td>
<td>$552,874</td>
<td>$531,767</td>
<td class="negative">-0.2%</td>
<td class="positive">3.8%</td>
</tr>
<tr>
<td>Adelaide</td>
<td>$519,517</td>
<td>$520,846</td>
<td>$498,971</td>
<td class="negative">-0.3%</td>
<td class="positive">4.1%</td>
</tr>
<tr>
<td>Perth</td>
<td>$554,095</td>
<td>$561,391</td>
<td>$567,314</td>
<td class="negative">-1.3%</td>
<td class="negative">-2.3%</td>
</tr>
<tr>
<td>Canberra</td>
<td>$723,980</td>
<td>$693,962</td>
<td>$655,468</td>
<td class="positive">4.3%</td>
<td class="positive">10.5%</td>
</tr>
<tr>
<td>Hobart</td>
<td>$409,592</td>
<td>$392,170</td>
<td>$356,916</td>
<td class="positive">4.4%</td>
<td class="positive">14.8%</td>
</tr>
<tr>
<td>Darwin</td>
<td>$593,329</td>
<td>$615,670</td>
<td>$610,510</td>
<td class="negative">-3.6%</td>
<td class="negative">-2.8%</td>
</tr>
<tr>
<td>National</td>
<td>$819,455</td>
<td>$823,381</td>
<td>$758,367</td>
<td class="negative">-0.5%</td>
<td class="positive">10.8%</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
</div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
</div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Similarly, median unit rents remained steady at $400 per week, up 5.3 per cent year-on-year.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">“This period of growth marks the 20th consecutive quarter of house price growth for Melbourne. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">"While house prices continue to grow at a steady rate, unit demand is soaring.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<span dir="ltr">"The latest growth figures are further indication that demand is significantly ahead of supply," </span>Dr Wilson said.</div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr">With policies in place to further restrict investors, it’s likely that rental prices will continue to rise, with fewer properties available, he added.</span></div>
</div>
</div>
</div>
</body></html>

Melbourne unit prices hit record $506,000 median: Domain

<html><body>
<div dir="ltr" align="left"><span dir="ltr">Brisbane unit prices dropped by 3.5 per cent over the September quarter to $376,685. </span></div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">"The median unit price is sitting at the lowest in three years, and it’s expected that unit prices will only continue to decrease. ,” said Domain Chief Economist, Dr Andrew Wilson.</div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr">Median house prices in Brisbane declined marginally over the quarter, dropping by just 0.2 per cent to $551,840. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Dr Wilson noted despite the drop and a relatively subdued year for the local market, house prices are up 3.8 per cent year-on-year.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<div dir="ltr" align="left">
<div id="1468469170927-5">
<div class="wpb_text_column wpb_content_element ">
<div class="wpb_wrapper">
<p class="domain-table-title">Domain quarterly stratified median house prices</p>
<div>
<table class="domain-table">
<thead><tr>
<td>HOUSE</td>
<td>SEP 2017</td>
<td>JUN 2017</td>
<td>SEP 2016</td>
<td>QOQ %</td>
<td>YOY %</td>
</tr></thead>
<tbody>
<tr>
<td>Sydney</td>
<td>$1,167,516</td>
<td>$1,190,677</td>
<td>$1,079,309</td>
<td class="negative">-1.9%</td>
<td class="positive">8.2%</td>
</tr>
<tr>
<td>Melbourne</td>
<td>$880,902</td>
<td>$869,598</td>
<td>$773,399</td>
<td class="positive">1.3%</td>
<td class="positive">13.9%</td>
</tr>
<tr>
<td>Brisbane</td>
<td>$551,840</td>
<td>$552,874</td>
<td>$531,767</td>
<td class="negative">-0.2%</td>
<td class="positive">3.8%</td>
</tr>
<tr>
<td>Adelaide</td>
<td>$519,517</td>
<td>$520,846</td>
<td>$498,971</td>
<td class="negative">-0.3%</td>
<td class="positive">4.1%</td>
</tr>
<tr>
<td>Perth</td>
<td>$554,095</td>
<td>$561,391</td>
<td>$567,314</td>
<td class="negative">-1.3%</td>
<td class="negative">-2.3%</td>
</tr>
<tr>
<td>Canberra</td>
<td>$723,980</td>
<td>$693,962</td>
<td>$655,468</td>
<td class="positive">4.3%</td>
<td class="positive">10.5%</td>
</tr>
<tr>
<td>Hobart</td>
<td>$409,592</td>
<td>$392,170</td>
<td>$356,916</td>
<td class="positive">4.4%</td>
<td class="positive">14.8%</td>
</tr>
<tr>
<td>Darwin</td>
<td>$593,329</td>
<td>$615,670</td>
<td>$610,510</td>
<td class="negative">-3.6%</td>
<td class="negative">-2.8%</td>
</tr>
<tr>
<td>National</td>
<td>$819,455</td>
<td>$823,381</td>
<td>$758,367</td>
<td class="negative">-0.5%</td>
<td class="positive">10.8%</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
</div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
</div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">The median house rental price in Brisbane remained steady at $400 per week both over the September quarter and over the last 12 months. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Unit rents were also steady over the quarter, sitting at $370 per week. The result is 1.3 per cent lower than the same time last year.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">“The slight drop in house prices is in line with Brisbane’s subdued housing market over the last 12 months, while the drop in unit prices is evidence that unit supply in the local market has officially outstripped demand,” said Dr Wilson.</span></div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">Unit prices being 6.5 per cent year-on-year was reflective of the record levels of new apartment development, which has pushed supply well ahead of demand, he concluded.</div>
</div>
</body></html>

Brisbane unit supply well ahead of demand: Domain

<html><body>
<div dir="ltr" align="left"><span dir="ltr">After dropping consecutively for three quarters, the median house price in Perth has now reached the lowest recorded by the local market in five years. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">As the market continues to weaken, house rents in Perth are now the most affordable of all capital cities, said Domain Chief Economist, Dr Andrew Wilson.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr">The median house price in Perth dropped a further 1.3 per cent over the September quarter, to a five year low of $554,095.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<div dir="ltr" align="left">
<div id="1468469170927-5">
<div class="wpb_text_column wpb_content_element ">
<div class="wpb_wrapper">
<p class="domain-table-title">Domain quarterly stratified median house prices</p>
<div>
<table class="domain-table">
<thead><tr>
<td>HOUSE</td>
<td>SEP 2017</td>
<td>JUN 2017</td>
<td>SEP 2016</td>
<td>QOQ %</td>
<td>YOY %</td>
</tr></thead>
<tbody>
<tr>
<td>Sydney</td>
<td>$1,167,516</td>
<td>$1,190,677</td>
<td>$1,079,309</td>
<td class="negative">-1.9%</td>
<td class="positive">8.2%</td>
</tr>
<tr>
<td>Melbourne</td>
<td>$880,902</td>
<td>$869,598</td>
<td>$773,399</td>
<td class="positive">1.3%</td>
<td class="positive">13.9%</td>
</tr>
<tr>
<td>Brisbane</td>
<td>$551,840</td>
<td>$552,874</td>
<td>$531,767</td>
<td class="negative">-0.2%</td>
<td class="positive">3.8%</td>
</tr>
<tr>
<td>Adelaide</td>
<td>$519,517</td>
<td>$520,846</td>
<td>$498,971</td>
<td class="negative">-0.3%</td>
<td class="positive">4.1%</td>
</tr>
<tr>
<td>Perth</td>
<td>$554,095</td>
<td>$561,391</td>
<td>$567,314</td>
<td class="negative">-1.3%</td>
<td class="negative">-2.3%</td>
</tr>
<tr>
<td>Canberra</td>
<td>$723,980</td>
<td>$693,962</td>
<td>$655,468</td>
<td class="positive">4.3%</td>
<td class="positive">10.5%</td>
</tr>
<tr>
<td>Hobart</td>
<td>$409,592</td>
<td>$392,170</td>
<td>$356,916</td>
<td class="positive">4.4%</td>
<td class="positive">14.8%</td>
</tr>
<tr>
<td>Darwin</td>
<td>$593,329</td>
<td>$615,670</td>
<td>$610,510</td>
<td class="negative">-3.6%</td>
<td class="negative">-2.8%</td>
</tr>
<tr>
<td>National</td>
<td>$819,455</td>
<td>$823,381</td>
<td>$758,367</td>
<td class="negative">-0.5%</td>
<td class="positive">10.8%</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
</div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
</div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Perth is one of the only capital cities (along with Darwin) to record a decrease in house prices year-on-year, down 2.3 per cent.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">The median unit price in Perth also dropped significantly over the September quarter, down 6.7 per cent to $351,875. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">The result 7.7 per cent lower than the median unit price 12 months ago.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">The median rental price for houses dropped 2.8 per cent over the September quarter to $350 per week; 7.9 per cent lower year-on-year. While the median unit rental price remained steady over the quarter, the result is still 6.3 per cent lower than at the same time last year.</span></div>
</div>
</body></html>

Perth house prices at five year low: Domain

<html><body>
<div dir="ltr" align="left"><span dir="ltr">Canberra is in catchup mode – bucking the trend of most capital cities and recording increases in rents and house prices, said Domain Chief Economist, Dr Andrew Wilson.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left">
<div dir="ltr" align="left"><span dir="ltr">The median house price in Canberra increased an impressive 4.3 per cent over the September quarter, to reach $723,980. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">The result is 10.5 per cent higher than the same time last year.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">While median unit prices in the capital city have also increased, they jumped a smaller 1.9 per cent over the September quarter to reach $427,391; 0.5 per cent lower than the same time last year.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Canberra was one of only two capital cities to record a quarterly increase in median house rents, jumping 1 per cent to $505 per week. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Unit rents remained steady at $420 per week, up 5 per cent year-on-year. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Canberra was the top performer of all capitals for gross rental yields for units, recording 5.77 per cent over the quarter.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">“After relatively subdued periods of activity in recent months, Canberra is in catchup mode,” said Domain Chief Economist, Dr Andrew Wilson.</span></div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">House price growth in the city is expected to continue, given the strong migration to the area and the undersupply of houses, Dr Wilson forecast.</div>
<div dir="ltr" align="left"><span style="color: #222222; font-size: small;"><span dir="ltr"> </span></span></div>
<span style="color: #222222; font-size: small;"><span dir="ltr"><br></span></span>
</div>
</body></html>

Canberra's property prices in catch-up mode: Domain

<html><body>
<div dir="ltr" align="left"><span dir="ltr">Hobart was one of only three capital cities to record an increase in median house price over the September quarter.</span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Domain has Hobart prices up 4.4 per cent to $409,592. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">With the highest annual growth in house prices of all the capitals, the city has seen an increase of a "whopping" 14.8 per cent year-on-year, Domain chief economist, Dr Andrew Wilson said.<br></span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Despite the significant growth, the median house price is also the most affordable of all capital cities.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">As well as median house price growth, Hobart also recorded the highest median unit price growth of all cities both over the quarter – up 6.3 per cent to $323,174. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">More impressive, however, is the annual increase, with unit prices up 25.6 per cent over the last 12 months. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">The growth suggests that recent record levels of new apartment development have had a negligible impact on price, with demand continuing to absorb higher levels of supply.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Hobart’s median house rental price was one of two that increased over the quarter, up 4.2 per cent to $375 per week. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">Year-on-year the weekly house rents have skyrocketed, up 13.6 per cent.<br> </span></div>
<div dir="ltr" align="left"><span dir="ltr">“Strong migration and undersupply in the property market is driving strong price growth in Hobart. For investors, Hobart is currently providing the best gross rental yields of all capital cities, with 5.29 per cent recorded in the September quarter. </span></div>
<div dir="ltr" align="left"><span dir="ltr"> </span></div>
<div dir="ltr" align="left"><span dir="ltr">The local market is confident and the boom-time results are showing no sign of slowing down, said Dr Andrew Wilson.</span></div>
</body></html>

Hobart ranks as strongest - and most affordable - house market in Australia: Domain

<html><body><div class="cq-article-content-paras section">
<p>Foreign buyers, mostly Chinese, are buying a quarter of new housing supply in NSW, with Credit Suisse forecasting a "stronger-for-longer" scenario for the housing sector.</p>
<p>After analysing foreign buyer receipts, the trend is also strong in Victoria, with foreign buyers accounting for the purchase of 17 per cent of new housing. In Queensland, it is 8 per cent.</p>
<p>"Almost 90 per cent of foreign demand is from China and there is little evidence that new capital controls by the Chinese authorities, announced in December 2016, have slowed demand for Aussie housing," the analysts, Hasan Tevfik and Peter Liu advised.</p>
<div class="cq-article-content-paras section">
<p>"We think the tailwind of Chinese wealth creation will mean more, not less, foreign buying of Aussie housing.</p>
</div>
<div class="cq-article-content-paras section">
<p>"Chinese demand suggests we ought to remain skeptical of a collapse," they wrote.</p>
<p>"Residential exposed companies should benefit including the developers, building material companies and banks."</p>
<p>Using Freedom of Information requests the Credit Suisse report collates tax receipts collected by the state revenue offices in the three east coast states in 2016-17 financial year.</p>
</div>
<div class="cq-article-content-paras section">
<p>It found foreign buyers bought $5.9 billion in residential property in NSW, along with $3.4 billion in Victoria and $700 million in Queensland.</p>
<p>While the housing market, is worth $5.6 trillion in the three east coast states, the report notes, it represents a large proportion of the value of new housing supply.</p>
<p>From July 1 this year, NSW doubled the stamp duty on foreign buyers to 8 percent and increased the land tax surcharge from 0.75 per cent to 2 per cent.</p>
<p>Victoria and Queensland impose taxes on foreign buyers of residential property of 7 percent and 3 percent, respectively.</p>
<p>On the question of whether the recent increases in tax will be enough to reconsider and cause house prices in Sydney to decline, Credit Suisse advised international experience suggests not," the Credit Suisse analysts wrote.</p>
</div>
</div></body></html>

Chinese new housing purchasing to ensure Sydney and Melbourne markets remaining stronger for longer

<html><body>
<p>GUEST OBSERVATION</p>
<p>The International Energy Agency (IEA) may be underestimating Australian household energy bills by 25% because of a lack of accurate data from the federal government.</p>
<p>The Paris-based IEA produces official quarterly energy statistics for the 30 member nations of the Organisation for Economic Cooperation and Development (OECD), on which policymakers and researchers rely heavily. But to provide this service, the IEA relies on member countries to provide it with good-quality data.</p>
<p>Last month, the agency published its annual summary report, Key World Statistics, which reported that Australian households have the 11th most expensive electricity prices in the OECD.</p>
<p>But other studies – notably the Thwaites report into Victorian energy prices – have reported that households are typically paying significantly more than the official estimates. In fact, if South Australia were a country it would have the highest energy prices in the OECD, and typical households in New South Wales, Queensland or Victoria would be in the top five.</p>
<p>A spokesperson for the federal Department of Environment and Energy, the agency responsible for providing electricity price data to the IEA, told The Conversation:</p>
<p>"Household electricity prices data for Australia are sourced from the Australian Energy Market Commission annual Residential electricity price trends report. The national average price is used, with GST added. It is a weighted average based on the number of household connections in each jurisdiction.</p>
<p>"The Australian energy statistics are the basis for the Australia data reported by the IEA in their Key world energy statistics. The Department of the Environment and Energy submits the data to the IEA each September. Some adjustments are made to the AES data to conform with IEA reporting requirements."</p>
<p>But it is clear that the electricity price data for Australia published by the IEA is at least occasionally of poor quality.</p>
<p>The Australian household electricity series in the IEA’s authoritative Energy Prices and Taxes quarterly statistical report stopped in 2004, and only resumed again again in 2012.</p>
<p>Between 2012 and 2016, the IEA’s reported residential price series data for Australia showed no change in prices.</p>
<p>Yet the Australian Bureau of Statistics’ electricity price index, which is based on customer surveys, showed a roughly 20% increase in the All Australia electricity price index over this period.</p>
<p>Australia is also the only OECD nation not to report electricity prices paid by industry.</p>
<p>This year’s reported household average electricity prices are almost certainly wrong too. The IEA reports that household electricity prices in Australia for the first quarter of 2017 were US20.2c per kWh.</p>
<p>At a market exchange rate of US79c to the Australian dollar, this puts Australian household electricity prices at AU28c per kWh. Adjusted for the purchasing power of each currency, the comparable price is AU29c per kWh.</p>
<p>By contrast, the independent review of the Victorian energy sector chaired by John Thwaites surveyed the real energy prices paid by customers, as evidenced by their bills. In a sample of 686 Victorian households, those with energy consumption close to the median value were paying an average of AU35c per kWh in the first quarter of 2017. This is 25% more than the IEA’s official estimate. At least part of this difference is explained by the AEMC’s assumption that all customers in a competitive retail market are supplied on their retailers’ cheapest offers. But this is not the case in reality.</p>
<p>Surveying real electricity and gas bills drastically reduces the range of assumptions that need to be made to estimate the price paid by a representative customer. Indeed, as long as the sample of bills is representative of the population, a survey based on actual bills produces a reliable estimate of representative prices in retail markets characterised by high levels of price dispersion, as Australia’s retail electricity markets are.</p>
<p>Pointing to a reliable estimate of Victoria’s representative residential price is, of course, not enough to prove that the IEA’s estimate is wrong. It could just as easily mean that Victorians are paying way more than the national average for their electricity.</p>
<p>But the idea that Victorians are paying more than average does not stack up when we look at the state-by-state data, which suggests that Victoria is actually somewhere in the middle. Judging by the prices charged by the three largest retailers in each state and territory, Victorian householders are paying about the same as those in New South Wales and Queensland, less than those in South Australia, and more than those in Tasmania, the Northern Territory, Western Australia and the Australian Capital Territory.</p>
<p><img src="https://images.theconversation.com/files/187510/original/file-20170926-25765-1cdi55t.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></p>
<p><em><span class="caption">Residential electricity prices.</span> <span class="attribution"><span class="license">Author provided</span></span></em></p>
<p>The IEA can not reasonably be blamed for the inadequate residential data for Australia that they report, and the nonexistent data on electricity prices paid by Australia’s industrial customers. The IEA does not do its own calculation of prices in each country, but rather it relies on price estimates from official sources in those countries.</p>
<p>An obvious question that arises from this is where Australia really ranks internationally if we used prices that reflect what households are actually paying.</p>
<p>This is contentious, not least because prices in New South Wales, Queensland and South Australia increased – typically around 15% or more – from July this year. We do not know how prices have changed in other OECD member countries since the IEA’s recent publication (which covered prices for the first quarter of 2017). But we do know that prices in Australia have been far more volatile than in any other OECD country.</p>
<p>Assuming that other countries’ prices are roughly the same as they were in the first quarter of 2017, our estimate using the IEA’s data is that the typical household in South Australia is paying more than the typical household in any other OECD country. The typical household in New South Wales, Queensland or Victoria is paying a price that ranks in the top five.</p>
<p>It should also be remembered that these prices are after excise and sale tax. Taxes on electricity supply in Australia are low by OECD standards – so if we use pre-tax prices, Australian households move even higher up the list.</p>
<p><img src="https://counter.theconversation.com/content/84681/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">There are serious question marks over Australia’s official electricity price reporting. Policy makers, consumers and the public have a right to expect better.</p>
<p><em><strong>Bruce Mountain</strong> is director, carbon and energy markets at Victoria University.</em></p>
<p><em>This article was originally published on <a href="https://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/australian-household-electricity-prices-may-be-25-higher-than-official-reports-84681" target="_blank">original article</a>.</em></p>
</body></html>

Australian household electricity prices may be 25% higher than official reports: Bruce Mountain

<html><body>
<p>Mortgagees have listed a Dee Why apartment for sale.</p>
<p><a href="https://www.realestate.com.au/property-unit-nsw-dee+why-126113634" target="_blank">The two bedroom, one bathroom offering</a> goes to November 4 auction through Sweetnams.</p>
<p>The 42/52 The Crescent apartment was initially listed for September auction.</p>
<p>It last sold in 2009 at $404,000.</p>
<p><span>The property has its own lock-up garage under the building.</span></p>
<p><span>Located between the beach and Dee Why Shops, t<span>he complex has a swimming pool.</span></span></p>
</body></html>

Dee Why mortgagee listing set to go under hammer

<html><body>
<div class="cq-article-content-paras section">
<p>The Brady Group is in dispute with its minority partner property investor, Xue Bin Wu over the future of an unbuilt $300 million Melbourne apartment skyscraper.</p>
<p>The case is before the Victorian Supreme Court.</p>
</div>
<div class="cq-article-content-paras section">
<p>The Australian Financial Review described the dispute as "bitter."</p>
<p>The dispute is between Xue Bin Wu, also known as David Wu, and the Brady Group, led by Tony Brady over their proposed 68-level apartment tower at <a href="https://urban.melbourne/projects/cbd-west-end/272-282-queen-street-melbourne" target="_blank">280 Queen Street</a>.</p>
<p>The 207-metre building comprises 533 apartments d<span>esigned by Peddle Thorp Architects, with mostly one and two bedroom apartments, 23 penthouses and one custom designed penthouse.</span></p>
<p><span>The proposal attracted attention on its 2015 application when The Age described some of the a</span>partments has not having enough space for basic activities.</p>
<p>The Age advised the plans had "angered" Melbourne City Council officials who found many of its then 589 planned units were undersized.</p>
<p>In a report to council, the planners noted "that many of the apartments are too small to allow for basic daily activities and functions such as eating at a dining table, or having a dressing table in the bedroom whilst maintaining access to the wardrobe."</p>
<div id="plista_widget_outstream_59dd3cc3d535a20" class="plista_widget_outstream" data-widget="">Although there was praise for the inclusion of 46 three-bedroom apartments, the planners said most of these dwellings were less than 70 square metres</div>
</div>
<div class="cq-article-content-paras section">
<p>The Brady Group and David Wu formed a joint venture in 2014 to develop the property, with Brady taking a 67 percent stake.</p>
<p>Brady reportedly put up $23.785 million purchasing funds for the venture, according to an affidavit by Brady Group general manager Simon Pethica.</p>
<p>Under their agreement, it is alleged, both the partners were then to jointly approve and authorise development expenses and then work on a more detailed joint venture agreement.</p>
</div>
<div class="cq-article-content-media section">"David has obstructed every reasonable attempt to finalise a more detailed joint venture agreement," the statement alleged.</div>
<div class="cq-article-content-paras section">
<p>"Without a detailed joint venture agreement, it is impossible to progress the development in a timely and commercially effective manner."</p>
<p>The statement alleges that Mr Wu has "unreasonably refused" to authorise a series of expenses incurred through the development process, including the reimbursement of a $25,300 fee paid by Brady Constructions to the Foreign Investment Review Board.</p>
<p>The failure to make those payments has stalled the development of the project, it is alleged.</p>
</div>
<div class="cq-article-content-paras section">
<p>The Brady Group has asked for a court order forcing Mr Wu to sell. Failing that, Brady seeks an order to wind up the joint venture.</p>
<p>Mr Wu, who also runs a real estate agency, has yet to file a defence.</p>
<p>In 2014 The Age initially reported the property had been purchased by Chinese national Xue Bin Wu.</p>
<div id="plista_widget_outstream_59dd3dbfedb2c40" class="plista_widget_outstream" data-widget="">It suggested Wu held a third portion of the holding company which lodged the plans for the site, suggesting an initial joint capital venture with Brady.</div>
<p>However a Brady Group spokesman told The Age in late 2014 that Mr Wu was no longer involved in the project. "It will be a Brady Group development," he said. "Work will start in about 12 months."</p>
<p>The Financial Review writes that as of October 2017 the fate of a $300 million Melbourne skyscraper hangs in the balance as under the conditions of its state government planning approval, work must begin on the project by June next year.</p>
</div>
</body></html>

Brady Group in partnership stoush with David Wu over 280 Queen Street

<p data-end="309" data-start="290"><strong data-end="309" data-start="290">Article summary</strong></p>

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
<p data-end="896" data-section-id="ojaazg" data-start="792">Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.</p>

<p data-end="1358" data-start="1137">The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.</p>

<p data-end="1358" data-start="1137">[smartcode_project:default project_id=90059 project_image_fid=374075]</p>

<p data-end="1577" data-start="1360">Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.</p>

<p data-end="1781" data-start="1579">The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.</p>

<p data-end="1977" data-start="1783">The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.</p>

<p data-end="1977" data-start="1783">[smartcode_project:default project_id=90059 project_image_fid=374059]</p>

<p data-end="2314" data-start="1979">One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.</p>

<p data-end="2423" data-start="2316">Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.</p>

<p data-end="2519" data-start="2425">"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.</p>

<p data-end="2688" data-start="2521">"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."</p>

<p data-end="2688" data-start="2521">[smartcode_project:default project_id=90059 project_image_fid=374060]</p>

<p data-end="2840" data-start="2690">Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.</p>

<p data-end="2900" data-start="2842">"Materiality tells the story of a place," Williamson said.</p>

<p data-end="3105" data-start="2902">"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."</p>

<p data-end="3300" data-start="3107">Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.</p>

<p data-end="3300" data-start="3107">[smartcode_project_cta:default project_id=90059]</p>


Joel Robinson

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

<p data-end="288" data-start="269"><strong data-end="288" data-start="269">Article summary</strong></p>

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289"><strong data-end="374" data-start="291">DVB Projects is preparing to launch its second Gold Coast apartment development</strong>, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443"><strong data-end="513" data-start="445">The 34-level tower will comprise just 49 ultra-luxury residences</strong>, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574"><strong data-end="646" data-start="576">The launch follows strong demand at DVB's nearby Sea Glass project</strong>, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718"><strong data-end="787" data-start="720">The development adds to the transformation of Old Burleigh Road</strong>, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<p data-end="1011" data-start="790"><a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.</p>

<p data-end="1296" data-start="1013">The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion</p>

<p data-end="1296" data-start="1013"><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" /></p>

<p>The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.</p>

<p>“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;</p>

<p>“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."</p>

<p>Brown says the site itself is "exceptional."</p>

<p>"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." /></p>

<p>The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.</p>

<p>A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.</p>

<p>Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" /></p>

<p>Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.</p>

<p>“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.</p>

<p>“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.</p>

<p>“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" /></p>

<p>Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.</p>

<p>With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.</p>

<p>[smartcode_project_cta:default project_id=145141]</p>


DVB Projects to launch second Broadbeach apartment tower as demolition commences

<p>A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.</p>

<p>Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.</p>

<p>While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.</p>

<p><img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" /></p>

<p>Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.</p>

<p>Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.</p>

<p>The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.</p>

<p><img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" /></p>

<p>The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.</p>

<p>In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.</p>

<p>Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.</p>

<p>According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.</p>

<p>Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.</p>

<p>The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.</p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a></em></p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a></em></p>

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Alfred Street the latest North Sydney pocket to be transformed by residential development

<p>Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.</p>

<p>For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.</p>

<p>Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.</p>

<p>"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."</p>

<p>[smartcode_project:default project_id=7354 project_image_fid=374893]</p>

<p>Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.</p>

<p>The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;</p>

<p>Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.</p>

<p>Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.</p>

<p>[smartcode_project:default project_id=7354 project_image_fid=269527]</p>

<p>Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.</p>

<p>"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."</p>

<p>The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.</p>

<p>"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."</p>

<p>[smartcode_project:default project_id=7354 project_image_fid=374892]</p>

<p>Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.</p>

<p>Construction is underway with completion expected in mid-2027.</p>

<p>[smartcode_project_cta:default project_id=7354]</p>


Boutique Gordon townhomes now come with a BMW iX3 50

<p>Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.</p>

<p>The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.</p>

<p>The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.</p>

<p><a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.</p>

<p>The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.</p>

<p>[smartcode_project:default project_id=145590 project_image_fid=359521]</p>

<p>The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.</p>

<p>[smartcode_project:default project_id=145590 project_image_fid=359527]</p>

<p><a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.</p>

<p>"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.</p>

<p>"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.</p>

<p>"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.</p>

<p>"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=145590 project_image_fid=359523]</p>

<p>The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.</p>

<p>Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.</p>

<p>EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.</p>

<p>WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.</p>

<p>"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.</p>

<p>"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."</p>

<p>Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.</p>

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<p>[smartcode_project_cta:default project_id=145590]</p>


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