<html><body>
The Agency has launched in Canberra with Peter Micalos leading the way, as well as a significant project pipeline.
The Agency Group said they have always seen Canberra as a top priority in their national growth plans.
Matt Lahood (pictured left), The Agency’s CEO explains, “we have been waiting for the right partnership to fulfil The Agency’s Canberra expansion, which we have found in Peter Micalos (pictured right), our new senior partner."
"Peter has been a trailblazer in the Canberra property market for many years as an influential property development and real estate executive.”
<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/2020/2/20/The%20agency%20canberra.jpg" alt="">
Peter Micalos holds over 15 years of experience in senior roles with highly successful property developers, and has participated in approximately $5 billion worth of property transactions and been closely involved in Canberra’s most iconic real estate developments.
Previously General Manager - Development at Geocon and now founder of Intellectual Property, a boutique real estate and development management business, Peter Micalos has also been looking for the right national partner, he said,
Along with Peter Micalos’ project pipeline, that is estimated to grow to 2,000 units over 24 months and a total value of $1billion, Peter Micalos will be establishing The Agency’s bricks-and-mortar hub in Canberra and initiating a major recruitment drive.
</body></html>

j.ballantyne1990-6AQqhLzZaK

The Agency launches in Canberra

<html><body><div class="page" title="Page 11">
<div class="section">
<div class="layoutArea">
<div class="column">
The real estate market of the Central Coast Region of New South Wales enjoyed a good year in 2019 and we don’t expect much changing for year 2020, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas in February. 
"Of course there are many factors that may change this. The most obvious factor likely to affect the market is the bushfire disaster seen across the state. 
"The Central Coast region has been affected by this, but to a much lower level than other regions. This means we can’t see a direct and significant effect on values and demand in the region," the valuation firm said. 
It remains to be seen this early in the year what operational changes, if any, lenders and insurers will implement as a result of the bushfires, but if changes occur within their respective spaces, there will be an indirect effect on the market.
"There is of course, a similar scenario in many parts of the state, and the Central Coast region sits between two markets that have been particularly affected, the Sydney and Newcastle markets," the valuation firm commented. 
Historically, the periods following significant events such as the devastating bushfires usually cause some disruption to the market and to a degree we do see this playing out in a period of consolidation - nothing new here.
"In Central Coast terms, the market is more likely to experience short term effects by excessive rainfall and flooding as we have seen in the past and if weather predictions prove correct, the region will have a lot of rain soon," the valuation firm added. 
</div>
<div class="column">
There weren’t any really identifiable standouts across the various market segments in 2019 and this is expected to be the case in 2020. 
"We saw the completion of several residential unit complexes in 2019. Almost all of the individual units within these complexes were sold off the plan from as far back as 2016.
"As completion drew close and developers starting calling for settlements, we were instructed to provide current valuations for mortgage purposes," the valuation firm said. 
In most cases, the values held with some increasing and on the odd occasion, a fall in value was noted.
Construction of new residential unit developments waned during the latter part of 2019 and there remains only a few developments still under construction, meaning that the heat of this market segment has eased and this should provide an opportunity for the consolidation of values in both new and older units, the latter of which did suffer slightly due to the preference for new stock.
The report notes general housing showed little of the effects of market disruptors seen in other regions during 2019 and from our perspective, it was pretty much a case of the market for established dwellings being steady throughout the year. 
"We don’t see much changing in 2020 for this segment and no locations showing signs of emerging as the place to be," the valuation firm stated. 
"Last year we offered that the peninsula suburbs of Woy Woy, Umina Beach and Ettalong Beach would see a reduction in values on the back of several extraordinarily strong years of growth. 
"We couldn’t see the rise in values being sustained for long and to a degree, this occurred with some real estate agents referring to 2016 values as the new norm for this part of the region. Once again, we would suggest caution and well founded research when buying in these suburbs," the valuation firm said. 
<div class="page" title="Page 12">
<div class="section">
<div class="layoutArea">
<div class="column">
"If pushed to suggest an emerging market, then we suggest a look at the new estates around Berkeley Vale," the valuation firm noted. 
The land is considered good quality and well priced. As new dwellings are established here, the values both within the estate and adjacent should benefit. 
Considerable new home building activity remains a staple for the newer suburbs towards the northern end of the region. This includes the suburbs of Hamlyn Terrace and Wadalba. 
Both suburbs provide well priced land with services close by and handy access to the M1 Motorway.
A 7 bedroom dual occupancy house in Hamlyn Terrace has recently been sold for $790,000.
The large house with a self-contained granny flat is situated at <a href="https://www.realestate.com.au/sold/property-house-nsw-hamlyn+terrace-131806894" target="_blank">37 Georgia Drive</a> (pictured below).
It features multiple living and entertaining spaces, covered patio, swimming pool and side access for boat/caravan.
<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/2020/2/10/hamlyn%20terrace.jpg" alt="">
A current listing is a Wadalda four bedroom house priced between $520,000 to $570,000.
Located at <a href="https://www.realestate.com.au/property-house-nsw-wadalba-132755342" target="_blank">13 Terka Street</a> (pictured below), the house comprises open living and dining spaces, three bedrooms, fourth bedroom or study and outdoor entertaining area. 
The house is situated minutes to schools, shops, sporting grounds and hospital. 
<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/2020/2/10/wadalba.jpg" alt="">
"We see a resilience to market pressures in these areas due to the relatively solid levels of affordability," the valuation firm suggested. 
"At an operational level, our interaction with lenders and mortgage brokers increased during 2019. This follows an extended period of limited interaction with the placement of intermediary parties being the link between lenders and service providers." 
While that link correctly remains present, direct discussion has proven just as successful as lenders seek a more detailed understanding of what’s happening in their local markets to assist in paving their way forward.
As with the last year, there is a reasonably good level of market confidence present, with indications that this confidence will wane slightly in some segments as the year progresses. 
"If previous cycles repeat themselves, we can expect to see a period of reduced buy and sell activity," the valuation firm said. 
 Obvious determinants of this will include the cost of financing, stock availability and of course, the presence or absence of buyers and sellers. 
Less obvious at this early stage but perhaps more influencing will be effects of natural disasters and as always, the role of the media.
"Also as with 2019, we see 2020 proving to be an interesting one for local real estate following the market peaking in most segments.
"We say interesting because the traditionally reliable and predictive market indicators have or are likely to be different to those seen in previous, fairly predictive cycles. The activity and rises seen until very recently occurred over an extended and sustained period as opposed to previous cycles." 
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

Central Coast property values expected to remain steady in 2020: HTW residential 

<html><body>
A circa 1920's Armadale, Victoria home has been listed for sale via a March 2020 auction.
It comes with a $2.3 million dollar price guide and a planning permit for six apartments and one penthouse.
Situated at <a href="https://www.realestate.com.au/property-house-vic-armadale-133002594" target="_blank">62 Kooyong Road</a>, the listing does note that there is potential to instead renovate the existing brick home or knock it down and rebuild.
Mark Wridgway and James Paull or RT Edgeway are marketing the home.
The existing house is a five bedroom, one bathroom abode.
Set on 706 sqm, the home has been listed for $500,000 less than what it prevously sold for.
It last sold for $2,860,000 in 2018. 
The home was listed as a rental in 2018 seeking $875/pw
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
The median price for a house in <a href="/developments/armadale-vic-3143">Armadale</a> is $1.875 million according to CoreLogic data.
</body></html>

Armadale mortgagee home with planning permit listed at $500,000 value reduction

<html><body>
New data released by SQM Research today has revealed the national residential rental vacancy rate decreased in January 2020 to 2.1% from 2.5% recorded in December, with the total number of vacancies Australia-wide now at 72,422 vacant residential properties.
All states recorded decreases in vacancy rates with Darwin recording the highest vacancy rate at 3.2% followed by Sydney at 3.1%. Hobart’s vacancy rate remains steady at 0.6%, the lowest of all capital cities.
Adelaide and Canberra also recorded low vacancy rates of 1.0% and 1.4% respectively.'
<img src="https://www.urban.com.au/images/2020/2/18/Vacancy%20rates%20tumble%201.JPG" alt="">
The year on year comparison revealed a more moderate decline. The national rental vacancy rate back in January 2019 was 2.2% compared to 2.1% recorded for January 2020. Melbourne, Canberra and Hobart recorded higher vacancy rates compared to this time last year.
Managing Director of SQM Research, Louis Christopher said, "Following on from December, January’s vacancy rates are also affected by seasonality. We will have a clear picture of the rental market when the numbers for February are released."
"However, we do believe that rental vacancy rates have now peaked in Sydney, Brisbane, Perth and Darwin. And assuming a stable economy, these cities are likely to record gradually lower vacancy rates as 2020 progresses.”
Asking Rents
<img src="https://www.urban.com.au/images/2020/2/18/Vacancy%20rates%20tumble%202.JPG" alt="">
Over the month, Capital city asking rents increased 2.5% for houses and 1.1% for units for the week ending 12 February 2020 to record asking rents of $569 per week for houses and $442 per week for units. In comparison over the 12 months, asking rents increased 1.6% for houses and remained steady for units.
Sydney, Melbourne and Perth all recorded increases in asking rents for both houses and units over the month.
Darwin and Hobart recorded decreases in both house and unit asking rents. Darwin had a 2.9% decline for houses and 2.5% for units whilst Hobart recorded 2.5% decline in houses and 1.4% in unit asking rents.
Brisbane recorded a decrease in house asking rents of 0.4% but increases of 0.2% in unit rents. Canberra and Adelaide had a reverse trend of increases in house rents but decrease in unit rents.
</body></html>

Vacancy rates fell across Australia reaching record lows in some states: SQM Research

Insights into RBA thinking February 2020: RBA Minutes

<html><body>
Water restrictions in Greater Sydney are expected to be relaxed to Level 1 on the 1st of March as Sydney Dam levels reach 80 per cent following recent rainfall. 
Minister for Water, Property and Housing Melinda Pavey said Level 2 water restrictions will remain in place for two more weeks to reduce the demand on the water supply network and ensure water quality remains high.
“We recently experienced the biggest rain event in 20 years, which has impacted the quality of raw water in Greater Sydney’s bushfire affected catchment,” Mrs Pavey said. 
“A number of initiatives are in place to ensure the water is safe for use, including extensive testing, filtration and nets to catch debris, but we are allowing an extra two weeks purely as a precautionary measure.”
“It will also give the system time to recover and on the 1st of March we expect Greater Sydney will revert back to Level 1 water restrictions, subject to water quality assessment by Water NSW and Sydney Water.”
Under Level 1 water restrictions, residents and businesses are not able to leave hoses running unattended, wash vehicles and buildings with a hose that isn’t fitted with a trigger nozzle, or use standard sprinklers and watering systems at any time. 
Mrs Pavey acknowledged people have been patient and applauded their efforts to reduce the amount of water being used annually – from 200L per person per day in 2017, to 180L today.
“Despite a 26 per cent increase in population, the total demand for drinking water remains lower than it did before mandatory restrictions were introduced in late 2003,” Mrs Pavey said.
Fines will still apply for breaches of water restrictions - $220 for residential breaches and $550 for businesses. Exemptions will be available for non-residential customers with outdoor water use as their core business.
For a full list of requirements for Level 1 and 2 water restrictions visit: lovewater.sydney
</body></html>

Water restrictions in Greater Sydney expected to be relaxed from March

<html><body>
The Australian government's Clean Energy Finance Corporation (CEFC) has invested up to $60 million in green home loans with rates as low as 2.44 per cent this year.
The property sector accounts for around 23 per cent of Australia's greenhouse gas emissions, according to the Australian Sustainable Built Environment Council figures. Around half of it comes from residential buildings due to the use of heating, ventilation, air-conditioning, lighting and hot water systems the figures show.
This new discount loan is to encourage the construction and purchase of energy-efficient homes and help reduce household emissions. 
<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/3_StockBreakouts/green-huis-breakout-3187521.jpg" alt="">
What is considered 'green' enough for the green home loan?
To qualify for the discounted rate, borrowers must submit certification that the homes they are buying or building have achieved a minimum of 7-stars under the <a href="https://www.certifiedenergy.com.au/nathers-per-state-ebook?hsCtaTracking=570461df-e398-4895-9cc2-e632610ddb09%7Cf6a680be-2731-4574-9a53-5013b5fc2128" target="_blank">Nationwide House Energy Rating Scheme (NatHERS)</a> in addition to the normal borrowing criteria. 
CEFC executive director investment, Richard Lovell says the green home loan will fill a gap in the market to give builders and home buyers a financial incentive to adopt NatNERS design principles from the start of the project. 
"New homes built today will be in use for decades to come. We want those homes to have the strongest energy efficiency and to delivery the smallest carbon footprint possible.
"We believe this is a useful tool to get it happening in the market so that financial markets could support emissions reduction in the residential housing stock.
"We have the option of extending it and making it a recurring program, depending on the market response."
<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/3_StockBreakouts/house-and-hands-monay-sept-2-breakout.jpg" alt="">
Which lenders offer green home loans?
Bank Australia 
The new <a href="https://www.bankaust.com.au/personal/borrow/home-loans/clean-energy-home-loan/" target="_blank">Bank Australia Clean Energy Home Loan</a> (BACEHL) offers qualifying builders and home buyers a 0.4 percentage point discount for up to five years on mortgages worth $1.5 million or less.
On a standard mortgage of $350,000, this would equate to savings of $1400 a year, or $7000 over the life of the loan. Half of the discount will be funded by the CEFC finance and the other half by Bank Australia.
Currently, there are three options for the BACEHL.
The 7 Star + opinion is for new builds or existing homes that meet a high standard of energy efficiency. In order to qualify for this BACEHL option, the property must have a NatHERS rating of 7 stars or higher which can be proved with a NatHERS Certificate completed by a HatHERS accredited assessor. 
Alternatively, a property can also qualify if it has a Residential Efficiency Scorecard rating of 7 stars or higher, excluding the impact of rooftop solar instalments; Passive House Certification; or, Green Star's Design &amp; As Built score of 8 points of higher on the credit '15 Greenhouse Gas Emissions'. 
<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/2020/2/14/2_Green%20BANK%20LOAN.jpg" alt="" width="561" height="320">
The <a href="https://direct.bankaust.com.au/MHCwa/DefaultAn.aspx?Instance=5D085108400047&amp;LoginType=0C&amp;QuestionnaireID=085D0351&amp;LayoutID=085D0158&amp;BroadcastID=&amp;CheckSum=4C5C055906&amp;notrack&amp;_ga=2.226959259.743840930.1581651236-1432342159.1581651236" target="_blank">Property Upgrade</a> and <a href="https://direct.bankaust.com.au/MHCwa/DefaultAn.aspx?Instance=5D085108400047&amp;LoginType=0C&amp;QuestionnaireID=085D0351&amp;LayoutID=085D0158&amp;BroadcastID=&amp;CheckSum=4C5C055906&amp;notrack&amp;_ga=2.226959259.743840930.1581651236-1432342159.1581651236" target="_blank">High Energy Efficiency</a> opinions are not available yet, but potential borrowers can register their interests online.
The Property Upgrade option is designed for existing homeowners that implement three or more eligible sustainable upgrades, or achieve a minimum 1 star improvement to the energy efficiency assessment as assessed by the Residential Efficiency Scorecard.
Meanwhile, the High Energy Efficiency option is a higher discount that can be applied to loans for new builds or existing homes that have three eligible sustainability features like a minimum NatHERS rating of 8 stars, a solar system, a battery or a real-time in-home energy monitoring system. 
Those who qualify for a BACEHL will receive an interest rate discount from the Premium Home Loan Package.
This package features:
<ul>
<li>No redraw fee which is available during the fixed rate period of the home loan;</li>
<li>Fee waived on your everyday banking, the Everyday Access or Mortgage Offset accounts;</li>
<li>No annual fee on the bank's Platinum Rewards Visa Credit Card, and zero per cent on balance transfers for 12 months;</li>
<li>No establishment fee for Personal loans and home loan top-ups, as well as</li>
<li>10 per cent off general insurance products across buildings, contents and comprehensive motors.</li>
</ul>
In addition, the interest paid back on any Bank Australia home loan will not be used to fund any industries that cause harm like fossil fuels, live animal exports, or nuclear weapons.
Bank Australia managing director, Damien Walsh says the decision to launch the Clean Energy Home Loan was driven by customers who cared deeply about sustainability and climate change. 
Mr Walsh says, "Our customers have told us that they care about sustainability and action on climate change and Bank Australia is a customer-owned bank, so we seek to reflect their values and take priority on the areas that are concerned to them."
"We want a high proportion of our loan book to be energy-efficient homes, and we want to be able to track progress towards emissions reductions in our portfolio.
"An individual home may not have huge emissions, but when you add up all the homes we finance, that's a really big opportunity for us to make a difference by helping customers reduce the environmental impact of their homes," he explains. 
Mr Lovell and Walsh both agree that the $60 million initial investment could be extended by both Bank Australia and the CEFC depending on the uptake. 
Regional Australia Bank
The Regional Australia Bank's <a href="https://www.regionalaustraliabank.com.au/personal/products/home-loans/sustainable-home-loan" target="_blank">Sustainable Home Loan</a> features a variable rate of 3.31 p.a. 
To qualify for the Sustainable Home Loan, the borrower's home must have at least one feature from List A and at least two features from List B: 
<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/2020/2/14/2_REGIONAL%20.jpg" alt="">
Source: <a href="https://www.regionalaustraliabank.com.au/personal/products/home-loans/sustainable-home-loan" target="_blank">Screenshot of Regional Australia Bank </a>
This Sustainable Home Loan also features:
<ul>
<li>100 per cent Offset Accounts with up to eight per loan account;</li>
<li>Split Loan options;</li>
<li>Advance payment options;</li>
<li>Option to redraw;</li>
<li>a maximum term of 30 years;</li>
<li>an interest only payments available for up to five years;</li>
<li>Discounted Interest Rate on Your Choice Visa Credit Card; and </li>
<li>Waived Access Fee on Transaction and Savings Accounts.</li>
</ul>
There are similar options available at Bendigo Bank, Maleny Credit Union, and Hunter United but are not supported by CEFC. 
Mr Lovell says CEFC would like to see other lenders follow suit, "we are absolutely keen to see other banks and non-banks develop similar products in the same space and we're more than happy to work with any financiers that do want to try."
</body></html>

Government sponsored mortgage discounts for green home purchases

<html><body>
New data released today by the Housing (Supply) Minister shows that the Federal Government’s First Home Loan Deposit Scheme is already helping millennials achieve their home ownership aspirations and giving a boost to regional areas.
The data shows that 34 per cent of applicants are aged between 25 and 29, while 76 per cent of applicants are aged between 18 and 34, with millennials making up the largest share. This represents 3,055 first home buyers taking the opportunity to buy their first home sooner.
These figures ring true with research undertaken for HIA in 2018 which found that 92 per cent of renters aspire to own their own home, yet only 49 per cent believe they will achieve that dream. The Scheme is clearly helping.
Where first home buyers are looking to live is also encouraging. A large number of applicants, including millennials, are looking to buy outside the major cities of Sydney, Brisbane and Melbourne. This suggests that people are starting to think outside the box (and the capital cities) when they think about buying their first home.
The house price cap in these locations is on average around $400,000 and even then the data shows most borrowers are seeking approval to buy houses below that maximum price.
Free standing houses are the most popular purchase with the scheme, which tends to suggest people are buying existing homes, rather than new homes. This is something HIA has raised with the Government and we will continue to investigate as the Scheme matures to ensure first home buyers have a choice.
There is no simple or single solution to increasing the rates of first home ownership but it is important to ensure that at the heart of any incentive scheme, greater housing supply is a core objective. Achieving this helps both first home buyers and those renting and saving their deposit.
No doubt this strong early take up will encourage the Government to think about increasing the number of places for the scheme in 2021.
All Australians seek to have secure housing options. Home ownership is an important fundamental of achieving that and increasing housing supply will have trickledown effect for the economy as whole.
HIA is heartened to see the Scheme receiving so much interest and so many first home buyers now being able to achieve their home ownership dream.
KRISTIN BROOKFIELD is the Chief Executive of Industry Policy at HIA
</body></html>

First home buyer scheme supports regional areas and millennials: HIA's Kristin Brookfield

<html><body>
Household financial comfort fell across regional Australia during the six months to December 2019, according to ME Bank’s latest Household Financial Comfort Report.
While ME Bank’s latest biannual survey showed the financial comfort of metropolitan households increased 3% to 5.76 out of 10 to near record highs – especially in eastern Australia – financial comfort for regional households fell 4% to 5.08, continuing a decline over the past year to approach its lowest point in the past eight years.
ME’s Consulting Economist, Jeff Oughton, said the gap in financial comfort between regional and metropolitan households had now reached a record 13%, almost twice the historical average of 7%.
“The sharp fall in financial comfort in regional areas is likely a result of ongoing drought and recent bushfire catastrophes, which have significantly lowered already low levels of financial comfort."
"‘Comfort with cash savings’ fell 9% and the ‘ability to deal with financial emergencies’ fell 7%, while long-term retirement comfort deteriorated, with ‘anticipated standard of living in retirement’ down 7%."
"Regional Queensland reported the largest fall in comfort, down 14% to 4.95, dipping below regional New South Wales (5.09) and Victoria (5.20)."
“In contrast, the improvement in the financial comfort of metropolitan households reflected significant gains in all key drivers, with record high levels of comfort approached in Sydney (up 1% to 5.94), Melbourne (up 3% to 5.91) and Brisbane (up 10% to 5.82).”
Record low mortgage rates and rising house prices improving comfort with debt in the major cities
Across the 11 key drivers that make up ME’s Household Financial Comfort Index, the biggest improvement was with ‘comfort with debt’, up 5% to 6.55 out of 10, reaching record highs. ‘Comfort with debt’ increased 7% for households in metropolitan areas, particularly those with mortgages on their homes or on an investment property.
“Significantly lower home loan rates and relatively low and stable unemployment rates helped to significantly improve ‘comfort with debt’ – especially in major capital cities, while a partial reversal of the fall in residential property prices in eastern capital cities and expectations of further price gains have also eased gearing concerns,” said Oughton.
Mortgage stress eases further and expected debt management improves Consistent with a significant fall in home loan rates, sustained low unemployment and improved property prices in most of Australia, mortgage stress eased a bit further during the past six months.
Nevertheless, there remains generally high levels of mortgage stress and significant other financial stress amongst households.
Record low Reserve Bank official interest rates helping, but divide households 
For the first time in the latest survey, ME asked households if they thought they were ‘better’ or ‘worse off’ as a result of the historically low official interest rates.
Overall, slightly more households reported being better off (27%), compared to worse off (23%), while the remaining half of households reported they weren’t impacted positively or negatively.
“Those households paying off a mortgage felt they were far better off than those renting or who already own their homes. When it came to investors with debt, results show they feel they’ve benefitted the most (60% ‘better off’) from the flow on to record low mortgage rates – an indication of the high level of gearing among residential property investors in Australia.”
In terms of life stage, young singles and couples with no children appeared to be the biggest winners, with over half (51%) saying they were ‘better off’, followed by couples with young children (41%).
Property price optimism revised higher
The report revealed household optimism regarding the outlook for residential property prices has continued, with both owner occupiers (47%) and investors (51%) revising up price expectations for 2020.
Brisbane investors and owner occupiers were the most optimistic about higher property prices (67% and 61%, respectively), followed by Melbourne owner occupiers (55%) and Sydney investors (51%). Owner occupiers in Perth (29%) remain the least optimistic in this regard.  
</body></html>

Household financial comfort fell across regional Australia: ME Bank

<html><body>
Capital city auctions saw a national success rate hovering around 78 per cent. 
Canberra recorded the highest clearance rate this weekend with 90 per cent, while Sydney sat at 80 per cent.
Melbourne was the busiest auction market with just over 700 auctions, according to CoreLogic. Sydney was the second busiest capital with 578 offerings.
Of the 386 Sydney results captured, 304 homes sold.
In Melbourne, 586 results were captured and 464 homes sold.
<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/2020/2/17/CoreLogic%20Feb%2017.jpg" alt="">
Sydney had the most expensive sale among the capitals when <a href="https://www.realestate.com.au/property/74-cascade-st-paddington-nsw-2021">74 Cascade, St. Paddington</a> sold through Phillips Pantzer Donnelley prior to auction for $4,675,000.
It was architecturally designed by Noekdesign and newly rebuilt by Huntsman Constructions. 
<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/2020/2/1_Paddington.jpg" alt="" style="caret-color: #000000; color: #000000;">
The former three-bedroom, two-bathroom house had previously sold for $2.3 million. 
<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/2020/2/1_Paddington_2.jpg" alt="">
The 183 sqm block has been transformed into a luxury home with aged brass finishes, and Venetian plaster walls.  
There was also $4,510,000 pre-auction ocean-view sale at <a href="https://www.realestate.com.au/sold/property-house-nsw-clontarf-132769278" target="_blank">10 Peronne Avenue, Clontarf </a>through Stone Estate Agents. 
<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/2020/2/1_Oceanview.jpg" alt="" style="caret-color: #000000; color: #000000;">
The four-bedroom, two-bathroom house was previously sold for $3,120,000 in 2009.
A six-bedroom, three-bathroom house at <a href="https://www.realestate.com.au/property-house-nsw-strathfield-132617658" target="_blank">25 South Street, Strathfield</a> sold at auction for $4,420,000 through Richard Matthews. 
Sydney's most affordable auction was at <a href="https://www.realestate.com.au/property/unit-10-39-bathurst-st-liverpool-nsw-2170?pid=p4ep-pdp%7Csold-pdp:property-history-cta#timeline" target="_blank">10/39 Bathurst, St. Liverpool</a> which sold for $340,000 through RW Parramatta. 
Domain reported the highest residential sale in Melbourne was a four-bedroom, two-bathroom house at <a href="https://www.realestate.com.au/property/50-chaucer-st-st-kilda-vic-3182" target="_blank">50 Chaucer Street, St Kilda</a>. 
The 399 sqm holding sold through Belle Property for $3,710,000. 
There had been a $2.7 million to $2.9 million price guide, with an opening bid of $3 million from the first of three bidders
<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/2020/2/1_MEL.jpg" alt="">
Melbourne's cheapest auction sale at <a href="https://www.realestate.com.au/property-apartment-vic-richmond-132818338" target="_blank">8/182 Coppin, St. Richmond</a> sold through Biggin &amp; Scott Richmond for $290,500. 
The one-bedroom, one-bathroom apartment price guide had been between $265,000 and $290,000.
Brisbane's priciest listing at <a href="https://www.realestate.com.au/property-house-qld-highgate+hill-132566870">19 Rosebery Street, Highgate Hill</a> did not sell.
Brisbane's highest sale was <a href="https://www.realestate.com.au/property-house-qld-new+farm-132599094" target="_blank">12 Clay Street. New Farm</a> which sold through Ray White at $1,895,000.
Built in 1890, it last sold for 1,030,000 in 2014.
<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/2020/2/1_Bris.jpg" alt="">
The five-bedroom, three-bathroom house is situated on 298 sqm of land.
Brisbane's most affordable house sale at <a href="https://www.realestate.com.au/property/45-grice-cres-ningi-qld-4511" target="_blank">45 Grice Crescent, Ningi</a> sold for $370,000 through Raine &amp; Horne.
The three-bedroom, two-bathroom house sold at a loss with its last sale in 2013 for $413,900.
The shock sale of the weekend was when the garage at <a href="https://www.realestate.com.au/property-residential+land-vic-albert+park-202587130" target="_blank">32 Little Graham Street</a>, Albert Park, belonging to a retired plumber, Frank Davis, fetched $645,500. 
It sold through Greg Hocking, whose price guide had been $365,000 to $400,000. 
The 90-year-old  paid $8000 for the property in 1984 for <a href="https://www.realestate.com.au/news/albert-park-garage-sells-for-645500-at-hot-auction/" target="_blank">"storing my plumbing gear"</a>. 
<img src="https://www.urban.com.au/images/2020/2/1_Garage.jpeg" alt="">
Some seven bidders battled for the 46 sqm real estate among a 100-plus crowd.
The buyers, Lola and Brenton Smith of Templestowe Lower, secured the property. 
Canberra's auction volume was down. 
However, Canberra recorded the strongest clearance rate of 90 per cent. 
The most expensive sale was <a href="https://www.realestate.com.au/property/6-welsh-pl-chifley-act-2606" target="_blank">6 Welsh Place, Chifley</a>, a four-bedroom, two-bathroom house which fetched $1,135,000 through McGrath Woden. 
It was last sold for $235,000 in 2002. 
<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/2020/2/1_CANBERRA.jpg" alt="">
Canberra's most affordable auction sale was a three-bedroom, one-bedroom house at <a href="https://www.realestate.com.au/property-house-act-holt-132845330" target="_blank">16 Sellwood Street, Holt</a>.
Built around 1975, the 104 sqm residence sold for $496,000 through Luton Properties.
There were 14 registered bidders at an auction in Canberra for a large home at <a href="https://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39R+6hBQZ7yXMt0Z3VIjNMZG/82IddyOwvlx0uwzb2nnICtXdeXxuax8&amp;rh=ff005a1eb05551cdee63205ebf489cee80dc7e19" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">16 Bussell Crescent, Cook</a> which sold for $1.3 million to a local family.  
Ray White agent Troy Reddick noted the average number of bidders was rising "so we’re expecting to have a strong year.” 
Adelaide had the cheapest sale among the capitals with <a href="https://www.realestate.com.au/property-house-sa-davoren+park-132767686" target="_blank">12 Walpole Street, Davoren Park</a> through Harcourts.
The 720 sqm land parcel sold at a loss for $117,000 at its mortgagee auction.
The three-bedroom, one-bathroom property last sold for $127,000 in 2005. 
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
There were 1,555 homes taken to auction across the combined capital cities this week.
It was 1,167 auctions were held last week, returning a revised clearance rate of 67 per cent, according to CoreLogic.
Over the same week last year, auction volumes were slightly lower with 1,450 homes going under the hammer across the combined capital cities, returning a final auction clearance rate of just 51 per cent.
</div>
</div>
</div>
</div>
 
 
 
 
</body></html>

Sydney clears 80 per cent of real estate at weekend auction, Melbourne 79 per cent

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.

<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/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

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

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News