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

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

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

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

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

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

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

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

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

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

Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

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

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

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

Staff reporter

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