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Captial gains momentum slowed over Q2 2017 with combined dwelling values rising by 0.8 percent over the June quarter according to CoreLogic.
The CoreLogic Hedonic Home Value figures for June show the slowest quarterly growth rate since dwelling values fell over December 2015 quarter.
Tim Lawless, CoreLogic head of research said the CoreLogic Home Value Index recorded a recovery from the 1.1 percent fall in May, with an 1.8 percent rise in capital city dwelling values over the month of June.
<a href="https://www.propertyobserver.com.au/images/2017/07/03/Screen%20Shot%202017-07-03%20at%209.46.33%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/03/Screen%20Shot%202017-07-03%20at%209.46.33%20AM.png" alt="">
 
“This stronger month-on-month reading can be partially explained by the seasonality in the monthly growth rates," he said.
"Adjusting for this effect suggests an easing trend in housing value growth has persisted through the second quarter of 2017.
"The June quarter results showed that capital city dwelling values were 0.8% higher across the combined capitals index; the slowest quarterly rate of growth since December 2015 when the combined capitals index fell by 1.4 percent.
“This trend towards lower capital gains across the combined capitals index is mostly attributable to softer conditions across the Sydney housing market, where quarter-on-quarter growth was recorded at 0.8 percent over the June quarter; down from 5.0 percent over the March quarter. In contrast, the quarterly trend in Melbourne has been more resilient, with growth easing from 4.2 percent over the March quarter to 1.5 percent over the three months ending June.”
"For Sydney, the more pronounced slowdown is supported by weaker auction clearance rates which have been tracking in the high 60 percent range across the city over the last three weeks of June, while in Melbourne, clearance rates have moderated but remained above 70 percent.
<a href="https://www.propertyobserver.com.au/images/2017/07/03/Screen%20Shot%202017-07-03%20at%209.48.06%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/03/Screen%20Shot%202017-07-03%20at%209.48.06%20AM.png" alt="">
“Both markets experienced auction clearance rates consistently in the high 70 percent to low 80 percent range over the March quarter."
Across the combined capitals, the annual pace of capital gains eased from 12.9 percent three months ago to 9.6 percent for June 2017. Sydney’s annual growth rate has slowed to 12.2 percent over the twelve months ending June 2017, down from a recent high of 18.9 percent three months ago. Melbourne’s annual growth rate is now the highest of any capital city at 13.7 percent over the twelve months ending June 2017.
Lawless said the change in rental growth conditions is most noticeable in Canberra and Hobart, where rents are respectively increasing at 8.4 percent and 6.2 percent per annum, however Sydney and Melbourne rental markets have also seen a turnaround in what was previously a sluggish rental market.
"Rents in both cities are 4.5 percent and 4.1 percent higher over the past twelve months.
"The growth in rents can be attributed to the ongoing significant rate of net migration into New South Wales and Victoria.
“While the rental growth turnaround will be welcomed by landlords looking to recover higher mortgage costs, the consequence is that renters are now facing renewed pressure as rents rise.
"In Perth and Darwin, rental conditions remain subdued, falling by 8.3 percent and 5.4 percent respectively over the year, while Brisbane rents slipped 0.2 percent lower and Adelaide rents held reasonably firm, up 1.1 percent. 
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<a href="https://www.propertyobserver.com.au/images/2017/07/03/Screen%20Shot%202017-07-03%20at%209.49.27%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/07/03/Screen%20Shot%202017-07-03%20at%209.49.27%20AM.png" alt="">
“It’s likely that landlords will be seeking to recover some, or all, of their increased financing costs associated with higher interest rates on investment in interest only loans by progressively increasing weekly rents. With record-low wages growth and so much new housing supply coming to market, this remains to be seen.
“Although growth conditions have lost momentum across the largest housing markets, we are yet to see any signs of a material downturn.
"The key drivers for a slowdown have been gradual. They include: mortgage rates pushing higher despite a steady cash rate, lender credit policies tightening up and housing affordability - which remains a significant barrier for many prospective buyers. Additionally, higher supply levels in the unit market appear to be creating a drag on the performance of the unit sector in specific segments.
“The impact of macroprudential measures announced by APRA at the end of March are still flowing through to mortgage rates and credit policies. We are likely to see further tightening and repricing around investment lending and interest only lending over the coming months.
“Considering investors comprised just over 55 percent of new mortgage demand across New South Wales, based on the latest housing finance data from the Australian Bureau of Statistics, a further slowdown in investment activity is likely to have a more substantial impact on housing demand in Sydney relative to other markets.
“There is a possibility some of the slack created by less investment in the Sydney housing market could be taken up by first home buyers taking advantage of stamp duty concessions that go live on July 1, however if this is the case, it’s likely to be temporary as higher first-time buyer demand could simply push prices outside the range applicable to the concession.”
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j.ballantyne1990-6AQqhLzZaK

Slowest quarterly rate of dwelling value growth since December 2015: CoreLogic

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Developer Greaton has begun construction work on the $260 million Oxford Central residential and commercial development in Sydney's Epping.
Situated at 30 - 42 Oxford Street, Oxford Central comprises 252 luxurious apartments spread across two 17 storey towers, 292 car spaces and 625 sq m of retail on the ground level.
A two storey heritage building located on the site will also be retained and is part of the retail precinct.
An open air café area and public plaza will feature alongside the Heritage building which fronts the development and will be accessible to the public.
Greaton managing director Nicho Teng said this is a significant milestone for the business.
"Oxford Central is Greaton’s first major mixed use project in Sydney and marks the beginning of a very long journey to deliver community focused, quality lifestyle precincts," he said.
“We have hand-picked international award-winning builders and architects - Ceerose and Marchese Partners to ensure Oxford Central becomes an iconic structure on Epping’s skyline.
"Local purchasers have embraced the opportunity to be part of this landmark project.
“Sydney’s horizon is scattered with many cranes.
"We look forward to adding our cranes to the skyline as well as helping create hundreds of jobs for local contractors.
"The Sydney property market is very busy.
"We expect to announce new acquisitions in the near future which will further add to Sydney’s construction activity.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/30/_DSC4151.jpg" alt="">
Edward Doueihi, Managing Director of Ceerose said after six months of pre-planning, Ceerose’s site team are keen to commence site activities.
"The team looks forward to working with Greaton to deliver this landmark project,” he said.
Oxford Central is expected to be completed early 2019.
For further information visit <a href="https://www.oxfordcentral.com.au" target="_blank">www.oxfordcentral.com.au</a>
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Construction starts on Greaton's Oxford Central

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Sydney’s retail market has continued to rise, according to Herron Todd White’s (HTW) latest June report.
The property investment firm says it has noted increased average market rental rates and values.
“Since the start of 2017, the Sydney retail market has continued its upward movement,” the report stated.
“The increase in both average market rental rates and capital values has continued.
“Increased demand from investors has continued to drive the market.
“The demand for CBD assets remains strong, particularly as infrastructure improvements continue.
“Across the board, Sydney is continuing to experience yield compression in the commercial domain.”
Heated residential markets and low borrowing costs have compressed all areas Herron Todd White says.
“A heated residential market along with an inherently low cost of borrowing have seen yield compression across all sectors over the past 12 to 24 months,” the report advised.
“There is strong appetite for retail properties with long term lease covenants.
"We consider this trend will continue while supply remains relatively low,” the report commented.
Entry level retail opportunities are tight at the moment in the outer and middle suburbs Herron Todd White advises.
“Entry level opportunities in the retail market are constrained to strata lots in the outer and middle ring suburbs of Sydney.
“This market has had an increase in supply due to the increase in mixed use developments coming onto the market.
Typically these assets are in fringe retail locations prone to longer vacancy periods and are often best suited to owner-occupiers.”
Mixed use retail opportunities below $1 million is very uncommon Herron Todd White states.
“There are very few mixed use retail opportunities below $1 million,” it said.
“Recent sales indicate that some suburbs such as Beverly Hills, Haberfield, Chester Hill and Leichhardt still have some limited mixed use options below $1 million.
“Many of these assets are purchased based on the future redevelopment potential.
“Strata lots presently represent the main opportunity for entry level buyers.
“The inner west, south Sydney and central west areas all have options priced below $1 million.
“Typically these assets are strata lots less than 100 square metres.
“If they have secure long term tenancies, these assets represent an investment option for entry level buyers.”
Herron Todd White comments that stock supply has increased due to redevelopment works in Sydney.
“Supply of this stock has significantly increased due to the redevelopment of many parts of Sydney,” it said.
“In terms of current yields, these assets are trading below 6% with some recent examples showing yields below 4.5%, particularly where the asset has a good lease covenant.
“Examples include leases to medical centres, cafes and dry cleaners.
“The outlook for retail in Sydney remains positive for 2017.
“Prime locations continue to perform well.
“That said we are of the opinion that the market is reaching the peak of the cycle and any tightening of monetary policy or increase in the cost of debt will result in the prevailing investment yields not being sustainable.
“For the time being though, all signs are that 2017 will be a good year for retail assets.”
A retail building at <a href="https://www.realcommercial.com.au/property-retail-nsw-leichhardt-502075890" target="_blank">283-285 Parramatta Road</a>, Leichardt (above) has been listed for sale.
Similarly a retail property at <a href="https://www.realcommercial.com.au/property-industrial+warehouse-nsw-beverly+hills-5626183" target="_blank">8/159 Penshurst Street</a>, Beverly Hills (below) has been listed for sale.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/22/8159%20Penshurst%20Street.jpg" alt="">
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Optimistic time for Sydney retail industry: HTW

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The much anticipated July 1 stamp duty savings for first time buyers came into effect on Saturday in NSW and Victoria, though the impact wasn't immediately overly obvious.
"It is still a sellers' market," the Domain auction commentator Dr Andrew Wilson advised.
He suggested the market was likely inflated by first-home buyers "or certainly supported by them."
Despite the onset of winter, and school holidays, continued overall strong buyer demand triggered a small uptick in the national auction success rate.
Brisbane had the nation's cheapest sale when a townhouse at Woodbridge fetched $245,000 in pre-auction negotiations.
Located at <a href="https://www.realestate.com.au/property-townhouse-qld-woodridge-124939366" target="_blank">23/45-47 Defiance Street</a>, the three bedroom property has been a $330 a week rental for its South Australian investors.
They had paid $314,000 in 2009. They had been looking to sell since 2016 when they sought $280,000.
Melbourne's cheapest was a one bedroom unit at Essendon sold for $291,000.
Located at <a href="https://www.realestate.com.au/sold/property-unit-vic-essendon-125666794" target="_blank">10/30 Richardson Street</a>, the 1970s apartment last sold in 2009 for $252,500.
Sydney's cheapest auction result was a $455,000 pre-auction sale of a studio apartment in Darlinghurst.
The <a href="https://www.realestate.com.au/sold/property-studio-nsw-darlinghurst-125661238" target="_blank">17/257-261 Darlinghurst Road offering</a> in the 1880s The Statler complex last sold at $250,000 in 2011.
The agents suggested it had a potential $400 a week rental income.
The nation's dearest weekend sale was an original condition 1960s Armadale house which sold for $5.2 million, Melbourne’s most expensive weekend auction result.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-armadale-125647978" target="_blank">52 Adelaide Street</a>, the five bedroom, three bathroom home on 761 sqm has the potential to be renovated, rebuilt or redeveloped, according to Marshall White selling agents Marcus Chiminello and Nicole French.
The national clearance rate edged back to the lows 70s%, according to CoreLogic.
It was higher than the 69% preliminary rate which sat at 66% after late results, the lowest clearance rate since June 2016.
The combined capital city preliminary clearance rate was 70.3 per cent on the first July weekend.<a href="https://www.propertyobserver.com.au/images/2017/07/02/Screen%20Shot%202017-07-02%20at%2011.07.33%20am.jpg" target="_blank"> </a>
"Auction clearance rates have been trending lower since reaching a peak at the end of February 2017 when the combined capitals clearance was recorded at 78.4%," Kevin Brogan, the CoreLogic auction analyst said.
Auction volumes were lower this week with 1,984 homes taken to auction across the combined capital cities, down from 2,355 last week.
The volume was significantly higher than this time last year when auction volumes were quieter due to the Federal Election when only 841 homes were taken to auction.
Melbourne had the highest number of auctions, with 866 properties going to market, followed closely by Sydney with 832 homes going under the hammer.
Across Melbourne, 71.9 per cent sold amid the 750 reported auctions.
This was down from 1,047 last week when the final clearance rate was 70.7 per cent.
Melbourne's strongest clearance rate was recorded across the North East, with 80.8 per cent of the 99 reported auctions clearing.
There was no sale when <a href="https://www.realestate.com.au/property-house-vic-templestowe-125639230" target="_blank" rel="noopener noreferrer">7 Watties Rd, Templestowe</a>, one of the suburb’s original farmhouses, was offered.
Built in the early 1900s, the two-bedroom weatherboard cottage on 1.37ha, now comes with a $2.6 million asking price through Steve Schumann, of Fletchers Manningham.
It last sold in 1991 at $362,000.
In Sydney, 832 properties were taken to auction this week with a preliminary clearance rate of 72.6 per cent, increasing from last week, when the final clearance rate for the city was 68.2 per cent across 939 auctions.
One year ago, just 365 Sydney homes were taken to auction and the clearance rate was 78.4 per cent.
Sydney’s Ryde region had the strong result at 89.7 per cent and followed by Sutherland's 84 per cent.
There were 119 Brisbane homes taken to auction on the weekend, with 77 results reported so far.
A Manly house sold for $1.42 million making it Brisbane’s most expensive weekend auction.
Located at <a href="https://www.realestate.com.au/property-house-qld-manly-125609666" target="_blank">12 Kooralgin Street</a>, the 483 sqm property is positioned on Manly Hill with harbour views.
Brisbane's preliminary clearance rate was 54.5 per cent, up from 33.3 per cent last week and higher than one year ago, when 35.6 per cent of the 68 properties taken to auction were successful.
Adelaide saw a preliminary clearance rate of 62.5 per cent, with 56 reported results across a total of 79 scheduled auctions.
In comparison, over the previous week Adelaide’s clearance rate was 68.5 per cent and 62.3 per cent one year ago.
The Adelaide results included a 1930s Hawthorn house for $1.125 million.
Located at <a href="https://www.realestate.com.au/property-house-sa-hawthorn-125711646" target="_blank">21 Sussex Terrace</a>, the art deco-style property was originally built as a doctor’s residence with consulting room.
Built in 1938, it was last sold in 2008 for $880,000.
There were 43 Perth auctions with 50 per cent selling. Last week there was a 39.6 per cent clearance rate for Perth.
Canberra’s preliminary auction clearance rate of 75.8 per cent across 36 auctions is higher than both last week, when the final auction clearance rate was 67.2 per cent, and last year (54.2 per cent).
A four bedroom Red Hill, ACT house sold for $1.4 million making <a href="https://www.realestate.com.au/property-house-act-red+hill-125670706" target="_blank">12 Hicks Street</a> Canberra’s most expensive weekend auction sale.
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First home buyers take July 1 stamp duty savings changes without any frenzy

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A 1930s Hawthorn, South Australia house has been sold for $1.125 million, making it Adelaide’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/property-house-sa-hawthorn-125711646" target="_blank">21 Sussex Terrace</a>, the 788 sqm Art Deco-style property was originally crafted as a doctor’s residence with consulting room and is an icon in the area.
Built in 1938 it was last sold in 2008 for $880,000.
Recent renovations and extensions has been made to the property.
Formal lounge room has an adjoining study room with separate entrance while the formal dining room has original fireplace and window seat with garden views.
The master suite has its own ensuite and walk-in robe while the other two bedrooms have their own built-in robes.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/02/21%20Sussex%20Terrace-2.jpg" alt="">
There is also a freestanding apartment with fourth bedroom with its own walk-in robes, bathroom and living room or it can be used as a pool house as well.
The kitchen features granite benchtops, gas cooking and fully equipped stainless steel cooking appliances.
An outdoor area has its own in-ground swimming pool.
Other features includes double garage with workshop and side access.
Mitcham Village are close by along with Pantry on Egmont and Astros Café.
The property was offered through Toop &amp; Toop Real Estate agents Peter McMillan and Eloise McMillan.
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Art-Deco style 1930s Hawthorn house sold for $1.125 million

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An original 1960s Armadale house has sold for $5.2 million making it Melbourne’s most expensive weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-house-vic-armadale-125647978" target="_blank">52 Adelaide Street</a>, the five bedroom, three bathroom house on 760 sqm has the potential to either be renovated, rebuilt or redeveloped.
Living spaces leads to a north-facing covered terrace as well as a northeast garden with pool.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/07/02/52%20Adelaide%20Street-2.jpg" alt="">
Upstairs is the main bedroom with two walk-in robes and ensuite as well as expansive rumpus room with built in bar.
The property is close to High Street’s shops, restaurants, trams are just moments away.
The property was offered through Marshall White agents Marcus Chiminello and Nicole French.
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Original 1960s Armadale house sold for $5.2 million

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A one bedroom unit at Essendon sold for $291,000 making it Melbourne’s cheapest weekend auction sale.
Located at <a href="https://www.realestate.com.au/sold/property-unit-vic-essendon-125666794" target="_blank">10/30 Richardson Street</a>, the property had been marketed as an affordable entry into the suburb.
Built in 1970, it was last sold in 2009 for $252,500. It sold in 2007 for $200,000.
Recently renovated, the interior features one double bedroom with its own built-in robes and ensuite bathroom.
It came with open lounge/meals area and modern kitchen featuring stainless steel cooking appliances.
Other feature include off-street parking.
The property was offered through Nelson Alexander agents David Vaughan and Richard Lowe.
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One bedroom Essendon unit sold for $291,000

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A boat shed at Dormant sold in early 2017 at $300,000.
Located at <a href="https://www.realestate.com.au/property-house-vic-dromana-123898786" target="_blank">121 Boat Shed</a>, the property features a fridge where cool drinks, salads and ice creams can be stocked and a private changing room.
It has lots of space featuring 33 sqm where you can store towels, BBQ equipments etc.
It has a large outside cement deck sitting area with large canvas awning to protect from the sun.
The internal walls and ceilings have been upgraded to have insulation providing extra security from the sun and cool weather.
It is positioned right in front of car parks, water taps, shops, BBQ area and much more.
The property was offered by Hockingstuart agents Philip Down and Steve Edmund.
It was recently rewired with electricity and had recently been re-earthed and fitted with new power outlets, updated with safety switches and a smart meter.
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Dromana boat shed sold 

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Parramatta is set to become Sydney’s future, according to Savills’ latest report.
“Forecast to be vital to Sydney’s future, Parramatta is now a city in transition with significant residential and commercial development activity taking place.
“The centre of Parramatta is already considered Sydney’s second CBD with an extensive commercial centre with substantial retail amenities.
“The suburb has benefitted from a number of private sector companies relocating or opening new offices in the area.
“These moves mean there is a greater number of high earning professionals, not just working, but often living in the area as well as utilising the retail, dining and leisure facilities.
“Aside from the ongoing development activity and popular dining precinct, Parramatta will continue to evolve into more of a destination due to the infrastructure improvements due to take place.
“The State Government has committed $10 billion for infrastructure investment for Parramatta and Western Sydney, which includes the new Sydney Metro West, Light Rail network, integrated and upgraded roads, rail, buses and ferry services,” the report stated.
Property values in Parramatta have experienced strong growth over the past decade.
“House prices have increased by 136 percent and apartment prices by 118 percent, outperforming the average growth seen across Sydney as a whole.
“However, over the past year, the rate of annual growth has slowed to 3 percent and 5 percent for houses and units respectively, reflecting a more subdued housing market seen across Sydney.
“Despite this rise in value, Parramatta remains a relatively affordable location to buy residential property.
“The median price of a house in the suburb of Parramatta in December 2016 was $1.19 million.
“This is slightly higher than average across all of greater Sydney but offers a substantial discount when compared to Central Sydney, the Inner West and the north western suburbs.
“Units in Parramatta have a medium price of $592,000, which is a discount of 16 percent compared to the Sydney average.
“This is due to a higher concentration of units in central, more expensive locations.
“Across the wider area of the City of Parramatta, prices can vary significantly.
“Oatlands, a suburb with high quality, family housing stock, is the most expensive location with the average house price nearly reaching $1.5 million.
“By comparison, areas to the south east of Parramatta such as Granville and Rosehill are cheaper with an average price for a unit of around $500,000,” the report advised.
A two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-rosehill-125583526" target="_blank">11/88 James Ruse Drive</a>, Rosehill (above) has been listed for between $570,000 to $600,000.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nsw-granville-125581878" target="_blank">11/9-11 Boundary Street</a>, Granville (below) has been listed for between $589,950 to $629,950.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/31/11_9-11%20Boundary%20Street.jpg" alt="">
Large-scale unit block developments are now common in Parramatta according to Savills.
“In response to the increased demand and changing demographics of the area, there has been a significant amount of residential development activity in Parramatta including a number of large-scale unit blocks.
“These apartments are popular with investor buyers and have increased the number of rental properties available.
“The proportion of private renters in Parramatta is already significantly higher than average, accounting for half of the population compared to a quarter across Greater Sydney.
“Tenants are attracted to the cheaper rents available. The median weekly rent in December 2016 was $550 for houses and $470 for units, around 15 percent cheaper than the Sydney average, resulting in average yields of 2.4 percent and 4.1 percent respectively.
“Unsurprisingly, given this new stock coming to the market, vacancy rates in Parramatta are slightly higher than the average across Sydney but the rental market remains active and the median rent has remained relatively stable over the past two years, following large increases,” the report commented.
Parramatta has one of the fastest growing populations of any local government area in Sydney, according to Savills.
“From 2011 to 2016, estimates show the population across the city of Parramatta has increased 17.6 percent, twice the rate of growth seen across Greater Sydney.
“This has significantly added to the demand for real estate in the area, equating to 7,150 new residents a year.
“Employment opportunities are a key reason people are drawn to live in an area.
“The City of Parramatta provides a wide range of employment options for both residents and surrounding locations.
“There are currently 92,000 residents of the city who are employed, but there is a daily work population of over 157,000, indicating at least 40 percent of the workforce lives outside Parramatta.
“Health care and social assistance is the dominant employment industry, with almost 25,000 employees, primarily driven by the Westmead health precinct.
“Across the city of Parramatta, there is a similar breakdown of household type to the Sydney average.
“There are higher numbers of lone person and group households which reflects the increasing number of young people moving to the area.
“Across the suburb, nearly half of residents are aged between 20 and 34 compared to a quarter across greater Sydney.
“Parramatta is a culturally diverse city and has a large international community.
“In the suburb, 21.3 percent of residents describe their ancestry as Indian and a further 21.2 percent as Chinese.
“Just 19.3 percent describe it as Australian or English compared to over half across Greater Sydney.
“As such, many international buyers are attracted to the area, providing an important source of demand for the housing market as both owner-occupiers and investors,” the report stated.
Parramatta’s landscape is expected to change if project development continues Savills says.
“The Parramatta CBD has seen a surge of residential and commercial development in recent years.
“If the projected development pipeline is realised, the Parramatta landscape is expected to continue this significant transformation over the next decade.
“This should contribute to strong population growth for the region and an increase of much needed supply of both commercial and residential properties.
“Forecasts suggest the population is set to increase by 74.5 percent over the next 20 years, to 416,750 people compared to a 37 percent increase across Greater Sydney.
“This is the third largest increase forecast of all Sydney’s Local Government Areas (LGA) following Camden and The Hills.
“The major investment in infrastructure and the ongoing commercial development is expected to create more jobs in the area and therefore an increase in demand for residential property.
“By 2021, Parramatta’s economic growth rate is anticipated to nearly double from 2.4 percent to 4.6 percent, taking the total employment to 186,000 people.
“The financial and insurance services sector is projected to see the most concentrated economic growth.
“The increased residential supply in Parramatta, combined with substantial government investment in infrastructure has increased general awareness of the Parramatta region.
“Whilst many buyers are still expected to be local to the western suburbs of Sydney, the ongoing changes and development activity are expected to broaden the range of interest and appeal to a larger catchment area, which is already starting to take place," the report stated.
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Parramatta the future of Sydney: Savills

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Stawell and Moe are the cheapest Victorian localities to rent a unit, according to Investar’s latest June report.
The property investment firm says that the median rent at Stawell and Moe is $160.
This is followed by Traralgon with $165 and Portland with $170.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="67">
Suburb
</td>
<td valign="top" width="64">
Postcode
</td>
<td valign="top" width="81">
Bedrooms
</td>
<td valign="top" width="117">
Current median rent
</td>
</tr>
<tr>
<td valign="top" width="67">
Stawell
</td>
<td valign="top" width="64">
3380
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="117">
$160
</td>
</tr>
<tr>
<td valign="top" width="67">
Moe
</td>
<td valign="top" width="64">
3825
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="117">
$160
</td>
</tr>
<tr>
<td valign="top" width="67">
Traralgon
</td>
<td valign="top" width="64">
3844
</td>
<td valign="top" width="81">
Studio and 1
</td>
<td valign="top" width="117">
$165
</td>
</tr>
<tr>
<td valign="top" width="67">
Portland
</td>
<td valign="top" width="64">
3305
</td>
<td valign="top" width="81">
2
</td>
<td valign="top" width="117">
$170
</td>
</tr>
<tr>
<td valign="top" width="67">
Morwell
</td>
<td valign="top" width="64">
3840
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A two bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-moe-404820299" target="_blank">3/9 Evelyn Street</a>, Moe (above) has been listed for $155 per week.
Similarly a two bedroom unit at <a href="https://www.realestate.com.au/property-unit-vic-stawell-420781218" target="_blank">7/103-105 Cooper Street</a>, Stawell (below) has been listed for $160 per week.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/06/09/7_103-105%20Cooper%20Street.jpg" alt="">
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Stawell and Moe the cheapest Victorian localities to rent units: Investar

Article summary

<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" />
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.

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.

[smartcode_project:default project_id=90059 project_image_fid=374075]

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.

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.

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.

[smartcode_project:default project_id=90059 project_image_fid=374059]

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.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"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."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"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."

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.

[smartcode_project_cta:default project_id=90059]

Joel Robinson

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

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<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.

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

<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" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“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;

“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."

Brown says the site itself is "exceptional."

"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.”

<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." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

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.

<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" />

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.

“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.

“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.

“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.”

<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" />

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.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

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.

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.

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.

<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" />

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.

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.

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.

<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" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

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.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

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.

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.

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.

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>

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>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

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.

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.

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.

"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."

[smartcode_project:default project_id=7354 project_image_fid=374893]

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.

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;

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.

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.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"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."

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.

"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."

[smartcode_project:default project_id=7354 project_image_fid=374892]

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.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

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.

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.

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.

<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.

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.

[smartcode_project:default project_id=145590 project_image_fid=359521]

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.

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.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<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.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"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.

"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.

"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."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

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.

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.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"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."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

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