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The inner and middle-rings of Adelaide are pushing up the city's overall median house price, according to a recent Herron Todd White (HTW) residential report. 
The report suggests these market segments were the best performing over the first six months of 2019 as the outer ring remained stable.
"In the shadows of the banking royal commission and the downward spiralling east coast markets, the claim was made that the Adelaide housing market would buck the trend with sustained growth," the valuation firm said. 
"Positive market sentiment is being driven within the media with a constant flow of articles spruiking the Adelaide market. Watching from the bleachers, things appear positive... but those with front row seats are seeing things a little differently."
Nailsworth, Evandale, Black Forest and Allenby Gardens have all been high achievers over 2019’s first half, it said. 
Each of these suburbs comprise an area of less than one square kilometre and are characterised by turn of the century dwellings on modest allotments.
Nailsworth is an inner northern suburb located approximately 5.2 kilometres from the CBD.
It had a number of transactions in the first half of the year, with a median of $655,000.
At the top end of the pile is the suburb’s record sale of<a href="https://www.realestate.com.au/sold/property-house-sa-nailsworth-129604950" target="_blank"> 51 Balfour Street </a>(pictured below) which achieved a sale price $1.21 million in January.
This sale eclipsed the previous record of $1.07 million set in 2017.
This property comprises a fully renovated and extended bungalow disposed as four bedrooms and two bathrooms on a 698 square metre allotment.
<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/2019/7/9/nailsworth.jpg" alt="">
In the second half of 2018, the small north- eastern suburb of Evandale located some 5.5 kilometres from the CBD had eight dwelling sales settle with a median of $690,000.
In the six months post, Evandale has had five transactions at a median of $880,000 showing an increase of approximately 27%.
<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/2019/7/9/evandale%20.jpg" alt="">
Recent sales include<a href="https://www.realestate.com.au/sold/property-house-sa-evandale-130666446" target="_blank"> 44 Elizabeth Street</a> ($844,000, pictured above), a four-bedroom, two-bathroom blue stone villa on a 534 square metre allotment and <a href="https://www.realestate.com.au/sold/property-house-sa-evandale-130674190" target="_blank">10 Leslie Street </a>($885,000, pictured below), a four-bedroom, two-bathroom circa 1990s reproduction dwelling on a 552 square metre allotment.
<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/2019/7/9/evandale%202.jpg" alt="">
Black Forest is situated 4.7 kilometres south west of the CBD and is serviced by both the Brighton train line and Glenelg tram line.
Fifteen transactions have been recorded within the past 12 months with prices ranging between $430,000 and $1 million.
The first half of 2019 has seen a 7% increase in dwelling values with Black Forest having a current median dwelling price of $745,000.
Purchased at the median in April was <a href="https://www.realestate.com.au/sold/property-house-sa-black+forest-130456994" target="_blank">4 Forest Avenue</a> (pictured below) for $755,000.
This is a circa 1930s, four-bedroom, two-bathroom Tudor style dwelling on an allotment of approximately 603 square metres.
<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/2019/7/9/black%20forest%20.jpg" alt="">
Allenby Gardens is located 6.1 kilometres north- west of the CBD and six kilometres east of Grange Beach.
The suburb comprises a mixture of early and mid 1900s dwellings with a significant amount of 1990s and 2000s infill development.
The first half of 2019 saw a 24% increase in the median dwelling price from the back end of 2018 to currently sit at $685,000.
Of the 2019 sales,<a href="https://www.realestate.com.au/sold/property-house-sa-allenby+gardens-130071490" target="_blank"> 27B Barham Street</a> (pictured below) for $470,000 represents the entry price point for the suburb.
<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/2019/7/9/allenby%20garden%20.jpg" alt="">
This property comprises a circa 2018 community titled brick veneer dwelling disposed as three bedrooms and two bathrooms on an allotment of 266 square metres.
"The outer ring remained relatively flat over the first six months of 2019," HTW said. 
"Good reference points for this market segment are Golden Grove north-east, Morphett Vale south and Paralowie north of the city.
"Each of these suburbs is geographically large and has a high turnover of stock with the two latter each constantly achieving 200-plus transactions annually."
Sales data shows both Paralowie and Morphett Vale have remained stable with median prices hovering between $300,000 and $315,000 since late 2016.
Golden Grove saw a reduction in the median dwelling price from $475,000 in the second half of 2018 to $435,000 in the first half of 2019.
The report notes that the outer ring is considered more susceptible to slowing market conditions.
"These suburbs will be important reference points over the next 12 months to provide an indication of how the broader outer ring is tracking," the report said. 
"Taking a broader look at the market, the March quarter is one of the most active and provides an important insight into how the market tracked over the busy summer months.
"The median house price grew in the March quarter by 0.625% to be at a record high of $480,000. This sparked significant media and deservedly so on face value.
"When you dig a little deeper, the 2018 and 2017 March quarters each had growth of 1.1% and 1.7% respectively. So, we had growth in the March quarter but at the slowest rate since 2016 which saw a reduction in the median house price."
On the auction front, for the four weeks post Easter, clearance rates faded to below 50%. For the same four-week period in 2018, clearance rates varied between 59% and 70%.
These numbers are backed up by agents in the field who are reporting a slowing in buyer activity with an increased amount of stock on the market. The numbers are suggesting that the market is slowing.
"Things have been looking rosy for 12 to 24 months. The expectation is that property prices will remain stable over the second half of 2019.
"The hope is that those who stop to smell the roses don’t start detecting a stench."
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j.ballantyne1990-6AQqhLzZaK

Adelaide inner and middle-rings performing strongly: HTW residential 

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The Hobart market is starting to show signs it is approaching or has reached its current cycle price peak, according to a recent Herron Todd White (HTW) residential report. 
CoreLogic suggests that the median price actually slipped in March.
"On the ground, we are seeing a flattening of prices in the inner ring, however demand for prestige remains historically firm," the valuation firm said. 
A recent over $1 million sale was a three bedroom penthouse apartment located in the heart of Hobart City (pictured below). 
The inner city apartment at <a href="https://www.realestate.com.au/sold/property-apartment-tas-hobart-131418934" target="_blank">5A/117 Collins Street</a> comprises of open plan living, master bedroom, two additional bedrooms with built in wardrobes and two secure car spaces. 
It's located near Salamanca and the Wharf. 
<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/2019/7/10/hobart%201.jpg" alt="">
HTW said it's a different story in the middle to outer ring, however positive pricing and competition for housing is still evident. 
"This is true for the 50-kilometre commuter radius," the report said. 
A waterside house nestled on the banks of Gypsy Bay is on the market with over $550,000 hopes (pictured below). 
Sitting on a 564 square metre allotment, the home at <a href="https://www.realestate.com.au/property-house-tas-primrose+sands-131433790" target="_blank">113 Linden Road, Primrose Sands </a>comprises open plan living, kitchen with granite benchtops, two bedrooms and rear yard. 
Local boat ramp is only a few minutes away together with local convenience store and beaches.
Vacancy rates remain tight with little evidence of the housing shortage easing.
<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/2019/7/10/primrose%20sands%20.jpg" alt=""> 
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Hobart market may have already peaked: HTW residential 

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The owners of the 30 evacuated Zetland apartment block are considering suing their former lawyers as they face a $5 million repair bill to fix the apartments that were evacuated last November.
The Sydney Morning Herald revealed the Chambers Russell law firm has advised them they have “reasonably good prospects” of running a negligence case against their former lawyers.
It was Makinson d’Apice who helped the owners corporation settle a $1.7 million insurance claim for waterproofing defects in last year on the condition that no further claims could be made against the insurer.
As the repair works were carried out, “critical” defects were then uncovered.
“We are already very concerned with the conduct of your former solicitors and a number of experts engaged,” said a position paper circulated by Chambers Russell.
It noted Makinson advised the owners corporation not to undertake temporary works that may well have prevented some of the very significant fire safety issues that now exist. Chambers Russell also noted the settlement had given “little” consideration to alternative accommodation costs and had compromised the owners’ ability to take action against other parties.
Makinson d'Apice partner Alex Kohn has denied the allegations and labelled them defamatory.
"They are unsubstantiated and if they ever mature into active claims against us, those assertions and allegations will be vigorously contested," Mr Kohn said.
Chambers has advised the strata apartment owners the law firm was prepared to run the Makinson case on a no-win no-fee basis.
Owners were briefed by Chambers at an information meeting conduced by the owners corporation.
 
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Garland Lofts, Zetland apartment evacuees consider legal action

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Construction has started at Canberra’s first zero emission office building.
The 13,200 square metre ACT Government Office building will source its heating, cooling and ventilation needs from 100% renewable electricity.
The building, being constructed by Doma, is part of the DKSN precinct in Dickson and is scheduled to be completed in 2020.
Doma Development General Manager, Gavin Edgar said the Dickson office building will be the first in the ACT to use an all-electric system for its heating and cooling.
“The ACT Government’s commitment to climate change leadership will see 100 per cent of the ACT’s electricity sourced from renewable electricity from 2020,” Edgar said.
“We have worked with the ACT Government, as the anchor tenant for 20 years, and our consulting engineers, Rudds, to design the building with an all-electric heating, cooling and ventilation system rather than a gas fired system.
“Traditionally, chillers have only been capable of providing chilled water which helps cool the building and then a gas boiler is required to provide heating.
“The solution being adopted for Dickson provides both heating and cooling for the building using a combination of water cooled and air cooled heat pump chillers which have the capability to reverse their mode of operation and provide either chilled water of heating hot water.”
Edgar said while all electric technology has been implemented in other countries, it has not been substantially tested in climates similar to Canberra’s.
“Temperatures in the ACT vary significantly over the year from season to season, so we have had to cater for this,” Edgar said.
“The chiller arrangements have been optimised to manage the peak heating loads in winter and cooling in summer, as well as handle the shoulder seasons where simultaneous heating and cooling is required.
“To help improve thermal comfort, radiant slab heating has been adopted in the ground level entrance lobby and atrium which will improve the amenity of members of the public visiting access Canberra. 
“Additionally, a large array of solar roof panels are being installed to generate power and help keep electricity bills down.
“The building’s innovations will not only produce an environmentally friendly, zero emissions building in line with ACT Government policy of having 100 per cent of the Territory’s electricity sourced from renewable electricity, it will demonstrate the feasibility of this technology to industry in Canberra and to the wider community.”
ACT Minister for Climate Change and Sustainability Shane Rattenbury said: “This is an excellent initiative, and I congratulate Doma for rising to the zero emissions challenge. Zero emission commercial buildings are both technically feasible and highly cost effective.
“Doma and the ACT Government are demonstrating that new commercial buildings can be gas-free, and it lays down the challenge to others in the industry to match this climate-friendly standard.”
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Construction starts at Canberra's first zero emission office building

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Unilodge has launched a specialised build-to-rent property management arm as the asset class continues to expand.
Essence Communities will provide property management services to investors and developers.
Build-to-rent projects are becoming an increasingly prominent part of the Australian property sector, following the success of similar dwellings in countries such as the US and UK. 
Executive Chairman of UniLodge, Peter Bates, said there is growing demand in the rental market for greater choice and long-term accommodation security.
“We know many Australians are finding it increasingly difficult to purchase property and we are seeing an attitudinal shift with many now seeking high-quality community offerings and the security that comes with longer lease terms,” said Bates.  
“While multi-family developments can address the demand for longer-term accommodation options, the success of the build-to-rent model is contingent on the provision of high-quality amenities and services, with more than one third saying they’d pay a higher rent for attractive community offerings and services.  
“Across our portfolio of more than 70 student accommodation and serviced apartments, we’ve seen how essential security and high-quality community offerings are to creating environments that occupants call home, which in turn delivers high-occupancy rates. 
“Our market-leading technology, bespoke services and understanding of unique community requirements, are key elements of our success and will translate to thriving build-to-rent projects through Essence Communities.”
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UniLodge launch specialised build-to-rent property management arm

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EXPERT OBSERVATION 
A significant number of Australians are embarrassed by their financial situation.
The Mortgage Choice and CoreData’s Financial Fitness whitepaper explores Australians’ attitudes and behaviours towards their finances.
Our research has found that when it comes to their finances, many Australians say they are embarrassed, which may stem in part from their personal debt and overall money habits.
According to the whitepaper research, 34% of respondents say they feel embarrassed by their financial habits. Furthermore, it revealed that 42% of Australians feel embarrassed by their personal debt, and one third hide the fact that they are in debt.
The research gave some insight into how Australians are using their credit cards, with a fifth of respondents saying they pay only the minimum amount on their credit card each month and 11% said they have not paid off their credit card in full for the last three months or more.
The fact that people are not paying off the balance on their credit card each month is worrying. However what is also particularly concerning is the number of Australians who pay only the minimum amount of their balance each month.
This prolongs the amount of time they are in debt as a considerable proportion of the payment is servicing the interest, rather than the balance and is one way consumers feel trapped in a seemingly endless cycle of debt.
The research found that more than a quarter (27%) of Australians spend more than they earn, which may explain why they are racking up personal debt.
These habits may be contributing to the shame and embarrassment some Australians say they feel about their finances. Indeed, the whitepaper reveals that almost a fifth (19%) of Australians say they are living secret financial lives.
This begs the question, are the feelings of embarrassment keeping Australians from taking an active role in managing their money? 
The research suggests this might be the case, as one-fifth of Australians said they often do not regularly monitor their finances.
The problem with avoiding the topic of money altogether is that often, a small problem can snowball into something more serious if it is not dealt with early on.
I encourage anyone feeling embarrassed or ashamed of their financial situation to seek professional help. The reality is you are not alone and there are things you can do to take control of your personal debt, but you need to start sooner rather than later.
SUSAN MITCHELL is the Chief Executive Officer of <a href="https://www.mortgagechoice.com.au/" target="_blank">Mortgage Choice</a>.
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A third of Australians feel embarrassed by their finances: Susan Mitchell

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The wider Perth area has seen some stability in its median price, according to a recent Herron Todd White residential report. 
"The residential market in Perth has tracked closely in line with our February predictions for the year (so far)," the valuation firm said. 
"Our assumptions were that the rental market would continue to be a strong point for Western Australia and that sales volumes and house price growth would remain subdued until 2020.
"There has been a lot of speculation about when the Perth market will finally turn and it doesn’t seem like we are much closer to knowing, mostly due to our split property cycles and diminishing sales volumes."
The report notes that the median house price settled at $500,000 for the March quarter, 0.6% higher than the previous quarter.
The unit median price also remained steady, holding at $380,000.
REIWA data shows that there were 6,636 properties sold in the March quarter, proving Perth’s state of subdued activity.
REIWA reports that “although overall sales are down, 10% of suburbs experienced stable or increased volumes”. This is a positive sign as there are improvements in some sub markets, and it shows the differences between Perth’s inner and outer suburbs.
Figure 1 shows the distribution of wider Perth area house sales by price bracket.
In the December 2018 quarter, 64% of homes sold below $600,000.
This figure jumped to 70% in the recent March quarter, indicating that affordability is continually improving, but it is also a symptom of a decline in prestige activity.
<a href="https://www.propertyobserver.com.au/images/2019/7/10/figure%201.jpg" target="_blank">Click here</a> to enlarge: 
<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/2019/7/10/figure%201.jpg" alt="">
President of REIWA Damian Collins states that this affordability “presents excellent opportunities for first home buyers, trade-up buyers, downsizers and investors to secure a good deal”.
According to the report, listings have increased 6% since the December 2018 quarter to 16,957 which isn’t helping selling periods.
It took an average of 78 days for vendors to sell their properties last quarter. This is a significant jump from the 68 days to sell in the December 2018 quarter.
It can be attributed to new land releases as well as a softening in demand across the board.
Collins recently said “it’s also worth noting that a significant portion (43%) of Perth sellers are achieving sales prices at or above their original asking price, which suggests that many vendors are heeding the advice of their real estate agent and pricing their properties in line with market expectations”.
"This is key to avoid the extended selling periods that we have been seeing far too often," HTW said.
"Our valuers are seeing frequent evidence of properties becoming stale in the market place due to the initial asking price being out of kilter with the market and the eventual sale price of these properties is often below what market evidence suggests they should achieve."
The rental sphere was once again increasingly active in the March 2019 quarter, favouring investors and shortening the Perth vacancy rate to 2.5%.
The median rental price remained stable at $350 per week for a ninth consecutive quarter.
REIWA data shows that 29% of suburbs in Perth had an increase in rents during the quarter, and 36% of suburbs increased over the past year.
If the rental market continues in this direction we should inevitably see an increase in Perth’s median rent over the coming seasons.
In terms of activity, 14,003 properties were leased during the March 2019 quarter, almost 9% more than the December 2018 quarter.
There were 6,738 properties listed for rent at the end of the March quarter 2019, which was 2% lower than the December quarter figure and 25% lower than the same time last year, showing that competition amongst tenants is ramping up.
It took two days less to find a tenant during the March quarter, decreasing to 42 days.
This figure has crept downwards since the peak of 57 days in June 2017 and shows that tenants need to be decisive and act fast to secure their preferred property.
A three bedroom house located in the heart of Victoria Park has been listed for lease with a price guide of $360 per week (pictured below).
The house at<a href="https://www.realestate.com.au/property-house-wa-victoria+park-417286626" target="_blank"> 45 McMaster Street </a>comprises open plan living, renovated kitchen, three bedrooms, and enclosed patio with kitchenette.
It's close to Victoria Park Central Shopping Centre, main highways and train station. 
<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/2019/7/10/victoria%20park.jpg" alt="">
The suburbs that recorded the best and worst median price growth over the March 2019 quarter are in Figure 2.
<a href="https://www.propertyobserver.com.au/images/2019/7/10/perth%20figure%202.jpg" target="_blank">Click here </a>to enlarge: <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/2019/7/10/perth%20figure%202.jpg" alt="" style="font-size: 12.16px;">
<a href="https://www.propertyobserver.com.au/images/2019/7/10/perth%20figure%203.jpg" target="_blank">Click here</a> to enlarge:
<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/2019/7/10/perth%20figure%203.jpg" alt="">
Note that both Burswood and South Guildford are benefiting from the sale of properties in new developments.
The Peninsula development by Mirvac would be significantly affecting Burswood’s median as some of the properties are selling for over $1.7 million.
A few lifestyle living areas have been active over the past six months including Mundaring, Glen Forrest, and Serpentine.
Suburban North Lake has tracked well, jumping 8.5% quarter-on-quarter.
This was surprising to see as North Lake’s surroundings have been disrupted lately by the development of the Murdoch Drive Connection – adding extensions from the Kwinana Freeway and Roe Highway to the Murdoch Activity Centre and Health Precinct.
Peppermint Grove has surged over the past quarter taking its median house price from $3.45 million up to $4.025 million.
A current listing in Peppermint Grove is a five bedroom resort style home priced at $3.985 million (pictured below).
Set on a 766 square metre block, the refurbished home at <a href="https://www.realestate.com.au/property-house-wa-peppermint+grove-119597415" target="_blank">14A View Street</a> comes with five bedrooms, home cinema, kitchen with Miele appliance and solar heated swimming pool.
Nestled among private schools, the home is within walking distance to the Swan River and Cottesloe Beach. 
<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/2019/7/10/peppermint%20grove.jpg" alt=""> 
There has been a fair amount of activity in this region which is nice to see, as the prestige market (previously helping to stabilise the Perth median) faltered over the March 2019 quarter, showing signs of volatility.
Cottesloe, Swanbourne, Mosman Park, North Fremantle, Attadale, Bicton and Dalkeith all experienced decreases in their annual median house prices.
"This is understandable however, as the March quarter usually experiences an increase in listings," the valuation firm said. 
On top of this, consumer confidence has been low; the fallout from the Banking Royal Commission has created a challenging financial market, and with the distraction of a federal election, homeowners and investors would be hesitant to make any big moves.
There has been a lot of media coverage around the declining Australian property market (mainly surrounding Sydney and Melbourne) and this isn’t helping confidence in the Western Australian market even though our property market is in a different stage of the cycle to the eastern states.
All of this has forced sales volumes to drop, selling periods to extend and top-end prices have fallen as a result.
"In the upgrader market, our valuers are still seeing a fair amount of activity, however home buyers are generally seeking to purchase at a discounted rate," the report said.
This is pushing out selling periods and it seems that prices may continue to soften as a result, further improving affordability."
Perth’s fringe is still being suffocated by chronic oversupply.
Baldivis is continuing its decline due to consistent land releases putting downward pressure on established dwelling sale prices.
As an example, a property on Avoca Chase had a summated cost of $285,000 in April 2018, being one of the cheapest we had seen at the time.
It was sold in March 2019 on completion for $225,000, declining 21% throughout its construction period.
This sales figure is actually considered to be fairly cheap, however it’s part of the unfortunate truth in the current market.
Properties in oversupplied regions need to be priced very keenly in order to achieve a quick selling period and avoid them going stale on the market, so listen to the advice of agents about what is realistic and appropriate.
Developing suburbs in the south-east are in a similar situation. Whitby and Byford have softened over the past six months and it is expected that these areas will stay flat for the remainder of 2019.
"Our predictions for the rest of the year are fairly simple for Perth’s outer regions.
"We expect to see no rebound in 2019 and assume that medians in these areas will continue their slow descent to wherever the median price floor holds, but we expect the overall median house price to remain relatively steady for the wider Perth area as upgraders take advantage of the buying opportunities that are available in many sought after areas."
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Median prices in wider Perth area are stabilising:  HTW residential 

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The property market within Mount Gambier was relatively stable for the first quarter, according to a recent Herron Todd White (HTW) residential report. 
The report suggests that the number of house sales occurring in the first quarter has been steady.
In 2014 house sales were slightly higher, however there has not been a significant drop in sales numbers which are still much higher than in 2011 when the market dropped back.
"The most purchased dwelling price range within the last 12 months is $200,000 to $250,000," the valuation firm said. 
"There are few dwellings purchased over $500,000 or under $150,000.
"The $200,000 to $250,000 price range is affordable for people entering the market and for investors looking at a property which provides a stable rental return."
A three bedroom house in Mount Gambier has been sold for $225,000.
Built in 1994, the house at<a href="https://www.realestate.com.au/sold/property-house-sa-mount+gambier-128096338" target="_blank"> 4 Winfield Court </a>(pictured below) comes with three bedrooms, lounge room, timber kitchen and private rear yard.
<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/2019/7/9/mount%20gambier%20.jpg" alt="">
"Dwellings over $500,000 are at the top end of the market and have limited market activity," HTW said. 
"Dwellings under $150,000 are generally in less sought-after locations and have limited market activity."
A recent over $500,000 sale was a Character Federation style home nestled on over 2.5 acres of land.
It was sold for $610,000 in May.
Located minutes from Mount Gambier and schools, the house at<a href="https://www.realestate.com.au/sold/property-house-sa-moorak-123887258" target="_blank"> 158 Telford Road</a>, Moorak (pictured below) comes with four bedrooms, study, timber kitchen, and open living areas.
<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/2019/7/9/moorak%201.jpg" alt="">
Detached housing and unit sales throughout the region are on track with previous years and are expected to remain stable throughout the remainder of the year.
Detached housing is the most popular amongst buyers, with 141 house sales for the first quarter of this year, compared to 15 unit sales and 28 land sales.
The report notes that properties located within the Lakes location and centrally around the town centre have shorter listing times than most other areas, as they are tightly held locations.
The median sale price has been slightly increasing over the past five years and property prices have remained stable.
"The overall feel of the market at the moment is that it will remain relatively steady throughout the remainder of the year," the valuation firm said.
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Mount Gambier market remains stable as median price ticks up: HTW residential 

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Darwin has experienced a few tough years and the weakening trend continued into 2019, according to a recent Herron Todd White (HTW) residential report. 
"The peak of the market (2013-2014), which was mainly inflated by the Ichthys gas project, was going to end at some point and we are now experiencing the aftermath," the valuation firm said. 
"Since the start of the year, we have seen declines in both sales and median price for all suburbs across Darwin (REINT)."
All markets have been hit, from residential to commercial, dwellings to units and the suburbs of Parap to Darwin River.
The weak market has been foreseen for some time now and it is now believed that home owners are coming to the realisation that their homes are not worth what they perceive.
This has been a difficult process and caused stress throughout the market and wider economy.
"We have seen some big reductions, especially in the Darwin CBD," the valuation firm noted. 
"There has been a 40% fall in the median unit and townhouse price from $565,500 in March 2015 to $330,000 in March 2019 (REINT).
"Also looking Palmerston way, the suburb Moulden has experienced some big reductions; recent analysed sales of dwellings show a drop in the order of 30% or more from 2013/2014."
A three bedroom apartment in the Darwin CBD has recently been sold at a reduced price of $330,000.
With views of the Darwin Harbour, the unit at<a href="https://www.realestate.com.au/sold/property-unit-nt-darwin+city-129170426" target="_blank"> 7/3 Harvey Street</a> (pictured below) include open plan living and dining area, private balcony, three bedrooms and kitchen with stone bench tops.
The complex comes with secure parking and pedestrian access. 
<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/2019/7/10/darwin%20city%201.jpg" alt="">
"Be that as it may, we should not be discouraged by the current state of the market," HTW said. 
"Unfortunately, it is a reality that we are seeing some heavy reductions but to put things into perspective, we need to take a look at Australia as a whole." 
According to the Australian Bureau of Statistics (ABS), the latest release shows new lending for investment dwelling in Australia is at its lowest since 2011.
Additionally, lending for purchase or construction of a new home in Australia has fallen to its lowest level since 2013.
Lending to households has decreased year on year by 17.8% in the Northern Territory (ABS).
This is a heavy drop but again, but comparative to other states. Victoria and New South Wales have also both dropped year on year, 15.4% and 18.9% respectively.
The report suggests there has been a downturn in all states with the only exception being Tasmania.
"We are not alone up here. The silver lining is that we are now in a period of market affordability; the dream of owning a home or unit is now realistic for Territorians.
"As mentioned earlier, we are seeing home owners slowly accepting the very weak property market. This is reinforced by looking at the recent statistics for the northern suburbs.
"Although sales are decreasing, we are seeing prices stabilising to only minimal decreases (REINT, March 2019). It is only our opinion and we can only speculate that it means people will only sell if it is their last option, if not, they are holding onto their properties for a better market and thus price."
The rental market has steadied in recent times and popular locations are still easily rented.
A fully furnished two bedroom unit in Darwin City is on the rental market with a price guide $430 per week.
Located in a secure complex, the unit at <a href="https://www.realestate.com.au/property-unit-nt-darwin+city-411774483" target="_blank">4/14 Dashwood Place</a> (pictured below) comprises open plan living, balcony, two bedrooms and two car parks.
<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/2019/7/10/darwin%202.jpg" alt="">
"We need to remember during these tough times the old saying 'you only lose if you sell'," the report said. 
However if you must sell, we are seeing well-presented properties still high in demand, so be sure to present your home in good condition, have neat and tidy landscaping and make sure there are no small works required by the potential buyer."
Since the start of 2019, there have been plenty of things done to pave the way to a more positive market.
The government has introduced new inventive schemes (Territory Home Owner Bonus) and construction of new buildings in Darwin (new four-level below ground car Park) and Palmerston (police station).
"We also note the interstate relocation schemes (Welcome to the Territory incentives) introduced in August 2018 will also make a positive impact in 2019.
"To end things off, we have seen land prices increase in the Palmerston suburb of Zuccoli (specifically the Aspire development).
"This increase came as a surprise to us but it is showing that the supply of land is not meeting demand and ultimately this can be seen as evidence that the government incentive program is playing its role.
"There is a lot happening to kick start the economy and our office remains positive that there will be a brighter market; it will just take time for the government schemes to take full effect." 
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Weakening trend continues across Darwin: HTW residential 

<html><body>
The ACT housing market has not changed much over the past six months, according to a recent Herron Todd White (HTW) residential report. 
The report notes that the value of houses and land has likely seen little growth, owing to an overall lower demand for property arising from various external factors such as the difficulty in obtaining finance.
"Demand is still reasonably strong for entry level houses in the $450,000 to $600,000 range and we would consider this property type to be performing the best," the valuation firm said. 
An example was a Banks three bedroom townhouse which has recently been sold for $520,000 (pictured below). 
Situated at the end of the complex, the townhouse at <a href="https://www.realestate.com.au/sold/property-townhouse-act-banks-131362970" target="_blank">6/30 Betty Maloney Crescent </a>comes with three bedrooms, open plan living, separate lounge and covered entertainment area.
The yard has a garden shed and an area outside the laundry that is ideal for the caravan or boat with easy access through a double gate.
<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/2019/7/10/franklin.jpg" alt="">
Demand has remained steady for the mid-point priced houses in the $600,000 to $1 million range.
The prestige market ($2 million plus) remains steady. Prestige dwellings are changing hands, but not at an extraordinary rate.
The report notes that the supply of units remains high and demand remains steady.
"Unit and apartment values have retracted or remained steady over the past six months due to the quantity being offered to the market, especially in the outer suburban areas where demand is generally lower," the valuation firm said. 
Supply is highest for the one-bedroom product that is being offered at a very high rate in new complexes, while the market for two, three and four-bedroom units is more steady and secure.
The price point for most one-bedroom units is between $275,000 and $400,000 depending on location, size and quality of inclusions.
Most two- bedroom units are selling for between $300,000 and $550,000, again depending on location size and quality of inclusions.
A new two bedroom apartment in Franklin has recently been sold for $381,000 (pictured below). 
With easy access to the City Centre, the apartment at <a href="https://www.realestate.com.au/sold/property-apartment-act-franklin-131357150" target="_blank">4/329 Flemington Road</a> comes with open plan living area, two bedrooms, north facing balcony and modern kitchen. 
It is with walking distance to Gungahlin Town Centre and the light rail. 
<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/2019/7/10/franklin.jpg" alt="">
Units with more than three bedrooms are often sold for above $550,000, with some units selling over the $1 million mark in well located, reputable complexes.
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Canberra housing market remains steady: HTW residential 

Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<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/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Staff reporter

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