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Greater Brisbane’s rental market is slowly changing to favour landlords, with rents rising and yields improving, according to new data from Domain.
The Domain 2019 Rental report found that the extended period of heightened rental supply from 2012 for roughly half a decade appears to be coming to an end.
Tenants will find the rental market is now entering new territory.
Not only will they start to find competition to secure a lease has increased, the choice of available rental stock will be narrowing.
Median weekly rents have already started to climb while the vacancy rate slides.
This turnaround follows almost four years of stagnant rents.
Domain said landlords may start to hike rents as advertised stock dwindles.
For the March quarter, available rentals are at a three-year low.
<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/2019/4/10/brisbane%20.jpg" alt="">
Source: Domain 2019 Rental report 
A three bedroom Petrie Terrace house has been listed for lease with a price of $400 per week (pictured below).
The house at<a href="https://www.realestate.com.au/property-house-qld-petrie+terrace-422931338" target="_blank"> 291 Hale Street</a> comes with high ceilings, polished timber floor, double fireplace in living and kitchen, master bedrooms, two other bedrooms, and alfresco paved area.
It is close to Paddington's shops, cafes, and Suncorp Stadium. 
<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/2019/4/19/petrie%20terrace.jpg" alt="">
A one bedroom Teneriffe apartment has been recently listed for lease with a price of $380 per week (pictured below).
Positioned right on the river, the apartment at <a href="https://www.realestate.com.au/property-apartment-qld-teneriffe-426367870https://www.realestate.com.au/property-apartment-qld-teneriffe-426367870" target="_blank">92/53 Vernon Terrace </a>comes with one bedroom with built-ins, large living area, secure rooftop car space and riverfront pool.
This building is located in the heart of Teneriffe in a garden setting.
<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/2019/4/19/teneriffe.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Brisbane house rents hold at the record high: Domain

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A four bedroom low-set brick house in Calliope, on the outskirts of the Gladstone mining town in Queensland, listed by mortgagees for $269,000 has been sold.
It fetched $230,000 through Bevan Rose from Gladstone Real Estate and took 90 days to sell.
It last sold at $419,000 in 2010.
Situated on a 643 square metre block, the house at <a href="https://www.realestate.com.au/property-house-qld-calliope-130338098" target="_blank">20 Sunpoint Way</a> comes with four bedrooms, two separate living areas, functional kitchen and generous storage.
Other features include air-conditioning in master bedroom and living area, ceiling fans, fresh neutral decor, and double lock up garage.
It has close proximity to Calliope Shopping Complex, education facilities and parks, not far from the Bruce Highway.
The suburb's median house price sits at <a href="/developments/calliope-qld-4680">$245,000</a>, according to CoreLogic.
The company calculates the annual change in median price in the suburb as as going backwards by 4.8% annually over the past decade.
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Price collapse at Calliope, Queensland mortgagee house sale

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Australian household balance sheets are seeing significant shifts that are likely to restrain demand and are a key risk to the domestic outlook, according to Westpac's latest Red Book.
In particular, a prospective ‘wealth effect’ drag on demand stemming from the decline in house prices is a major area of uncertainty. 
Given the importance of this issue, Westpac economists will be providing more regular updates going forward.
For the most part this will be building on previous commentary profiling trends by state, looking at consumer sentiment during previous wealth effect episodes, sizing the current wealth decline, and providing some sensitivity analysis around potential wealth effects.
<img src="https://www.urban.com.au/images/2019/4/18/Redbook%20Wealth%20Effect%201.JPG" alt="">
(Source: Westpac)
The housing correction is starting to have a clearer impact on the household balance sheet.
The total value of dwelling assets fell $270bn over 2018, reflecting both lower prices and slower dwelling completions.
The decline amounts to 40% of annual income and is about half of the peak to trough falls seen in the GFC and 2011-12 correction.
While the overall decline in net worth, including other assets, is a touch milder than our early estimates it has clearly extended into 2019.
Chart 14 shows Westpac estimates of household net worth and savings rates by state updated to Q4.
<img src="https://www.urban.com.au/images/2019/4/18/Redbook%20Wealth%20Effect%202.JPG" alt="">
(Source: Westpac)
Recall that the ‘signature’ of a wealth effect drag is a fall in net worth accompanied by a rise in the savings rate, the latter meaning that spending is growing at a slower pace than incomes.
Also Westpac noted that these estimates are compiled from a range of annual and quarterly benchmarks, and as such should be treated as broadly indicative. 
The latest estimates show larger falls in net worth in NSW and Vic where declines are closer to 60% of annual income. That said, they also show the extent of the prior run up with net worth in both states still well above 2015 levels. 
On savings, the latest data again points to declines concentrated in NSW and Vic consistent with a wealth effect boost to spending rather than a drag. Any hint of a turn in Q1 will be a key pointer to demand.
The Wealth effect has been seen to have supported demand over 2013-17.
Falls in wealth are less likely to impact when the labour market is strong and income growth is firm.
The latest spending detail shows a clear slowing in wealth-sensitive items, slightly more so in NSW, Vic and WA.
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Wealth effect drag appears imminent: Westpac

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Australia’s fifth largest home loan lender, ING, has dropped rates on several fixed home loans by up to 0.19 per cent. 
The rate cuts affect ING’s 2, 3 and 5-year fixed home loans for owner-occupier customers paying principal and interest. 
RateCity data shows almost half of all leaders have cut fixed rates on over 500 products since the beginning of the year.  
Sally Tindall, research director at RateCity.com.au said the move from ING came on the back of fixed rate cuts from three of the big four banks over the last two weeks.  
“Now that CBA, Westpac, NAB and ING have slashed fixed rates in recent weeks, other lenders may be forced to consider cutting their rates to maintain a competitive edge,” she said.  
“In particular, all eyes are on ANZ who currently has the highest 3 and 5 year fixed rates out of the big banks for owner occupiers paying principal and interest.” 
ING fixed rate changes - owner occupier rates principal and interest repayments
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Product
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<td valign="bottom" nowrap>
New rate
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<td valign="bottom" nowrap>
Old rate
</td>
<td valign="bottom" nowrap>
Change
</td>
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<td valign="bottom" nowrap>
2 year - Orange Advantage
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<td valign="bottom" nowrap>
3.59%
</td>
<td valign="bottom" nowrap>
3.75%
</td>
<td valign="bottom" nowrap>
-0.16%
</td>
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3 year - Orange Advantage
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<td valign="bottom" nowrap>
3.64%
</td>
<td valign="bottom" nowrap>
3.83%
</td>
<td valign="bottom" nowrap>
-0.19%
</td>
</tr>
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<td valign="bottom" nowrap>
5 year - Orange Advantage
</td>
<td valign="bottom" nowrap>
3.99%
</td>
<td valign="bottom" nowrap>
4.09%
</td>
<td valign="bottom" nowrap>
-0.10%
</td>
</tr>
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Lowest fixed rates – major banks
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<table border="0" cellspacing="0" cellpadding="0"><tbody>
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<td nowrap>
CBA
</td>
<td nowrap>
Westpac
</td>
<td nowrap>
NAB
</td>
<td nowrap>
ANZ
</td>
</tr>
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<td>
2 year
</td>
<td nowrap>
3.79%
</td>
<td nowrap>
3.79%
</td>
<td nowrap>
3.69%*
</td>
<td nowrap>
3.75%
</td>
</tr>
<tr>
<td>
3 year
</td>
<td nowrap>
3.79%
</td>
<td nowrap>
3.69%*
</td>
<td nowrap>
3.79%
</td>
<td nowrap>
3.99%
</td>
</tr>
<tr>
<td>
5 year
</td>
<td nowrap>
4.09%
</td>
<td nowrap>
4.09%
</td>
<td nowrap>
4.09%
</td>
<td nowrap>
4.19%
</td>
</tr>
</tbody></table>
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*First home buyer special
Lowest fixed rates – low rate lenders
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap>
2 years
</td>
<td valign="bottom" nowrap>
Mortgage House
</td>
<td valign="bottom" nowrap>
3.57%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
3 years
</td>
<td valign="bottom" nowrap>
Suncorp Bank
</td>
<td valign="bottom" nowrap>
3.49%
</td>
</tr>
<tr>
<td valign="bottom" nowrap>
5 years
</td>
<td valign="bottom" nowrap>
Greater Bank
</td>
<td valign="bottom" nowrap>
3.74%
</td>
</tr>
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ING counters the big banks with its own rate cuts

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The Real Estate Institute of Victoria’s latest data reveals that Nillumbik’s property market is kicking goals so far in 2019 with two of the top three performers located within the municipality.
Revealing the REIV’s median data for the first quarter of 2019, REIV President Robyn Waters said the median house price in Eltham increased 7.3 per cent to $950,000 in the January-March 2019 quarter while Greensborough’s median house price soared 6.0 per cent to $808,000.
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“Melbourne’s Green Wedge Council proved to be our property hot spot for the first quarter of 2019 as the area’s idyllic surrounds and enviable lifestyle boosted house values. You can still get impressive family home with all the bells and whistles in this truly unique area of Melbourne for less than a million dollars,” Ms Waters said.
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“Consistent with 2018 trends, some outer areas continue to do well with Narre Warren South sitting second on the top 10 list for median house price growth with a 7.1 per cent increase, Mulgrave is at number four with a 4.7 per cent increase and Point Cook in fifth place, also with a 4.7 per cent increase.
"Interestingly, we are also starting to see signs of recovery in Inner Melbourne with Glen Iris and Balwyn North making the top 10 this quarter, recording increases of 4.3 per cent and 4.2 per cent respectively.”
<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/2019/4/26/REIV-Melbourne.jpg" alt="">
Overall, Melbourne’s median house price fell 1.4 per cent in the first quarter of 2019 to dipbelow $800,000 at $793,000.
“The market was fairly stagnant in 2018 as vendors resolved to stay put and renovate or extendrather than take their chances on selling in an uncertain market and I think we’ll need to wait until after the Federal Election to see any major change to that climate,” Ms Waters said.
“Looking at the annual picture, the top 10 performers for median house price growth between April 2018 and March 2019 were all in Outer Melbourne demonstrating the popularity of affordable options for families who have their heart set on the ‘great Australian dream’.
In suburbs like Sunbury, Craigieburn and Wollert you can still secure a great family home for $500,000 to $600,000 which is attractive to potential owner-occupier and investors,” Ms Waters said.
<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/2019/4/26/metro-growth-melbourne.jpg" alt="">
There are also more new house and land packages coming online in places like Officer and Clyde North where burgeoning estates have replaced empty paddocks in a relatively short time frame. As a consequence, the necessary infrastructure and community facilities are coming on line in these areas.
Ms Waters said regional Victoria continues to outperform the Metropolitan Melbourne property market with substantial gains of almost 10 per cent recorded in some towns this quarter and a 1.0 per cent increase overall in the median house price.
<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/2019/4/26/Melb-regional-growth.jpg" alt="">
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“Four of the top 10 towns for median house price growth in the March quarter were in the Ballarat area: Redan topped the list with an increase of 9.8 per cent to $357,000, Ballarat East was at seventh with a 4.4 per cent increase to $355,000 just ahead of Soldiers Hill at eight with a 4.3 per cent increase to $485,000 and Brown Hill with a 3.5 per cent increase to$440,000,” Ms Waters said.
“In the 12 months to 30 March 2019, three regional towns reported growth of more than 24 percent: Wonthaggi, Redan and Wendouree which is a resounding endorsement for the propertymarket’s in these areas, given the current cooler climate.
Strong annual growth was also found in Stawell, Bendigo, Irymple, Trafalgar, Mount Clear,Wallan and Maryborough.”
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Inner Melbourne prices still weakening, while regional Victoria edges higher

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Former National Soccer League coach Tony Vrzina has secured $2.7 million from the sale of a vacant office/warehouse building in Hawthorn East. 
CBRE’s Sandro Peluso, Josh Twelftree and Jimmy Tat negotiated the off-market sale of the 31 Hall Street property on behalf of the veteran coach.
Vrzina led Sydney Croatia in the 1990s before coaching Victorian Premier League side Fawkner.
In his coaching career he also led the Melbourne Knights, Preston, George Cross and Bulleen. 
The 460 square metre Hall Street building has been purchased by an investor seeking to capitalise on demand for social infrastructure in the increasingly affluent commercial and industrial precinct by leasing the building to a health-care related tenant. 
“While Hawthorn has always been popular with office tenants and commercial owner occupiers, we expect to see a shift towards more social infrastructure uses in the area,” Peluso said.  
“This will underpin growing interest from medical and child care operators, particularly in light of the growing number of office developments in the area.”  
Peluso noted that the one-time Hawthorn East industrial precinct comprising Hall and Cato Streets had been almost entirely converted to high end office and boutique owner-occupied properties, with 31 Hall Street representing one of the last remaining industrial assets.
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Soccer coach Tony Vrzina kicking goals in Hawthorn East with $2.7 million warehouse sale

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GUEST OBSERVATION
Immigration policy will be a major issue in the 2019 federal election. We know this because immigration has featured significantly at every Australian election since the 2001 “<a href="https://en.wikipedia.org/wiki/Children_Overboard_affair" target="_blank">children overboard</a>” election.
David Marr and Marian Wilkinson argued in their 2003 book, <a href="https://www.smh.com.au/entertainment/books/dark-victory-20030329-gdgiaw" target="_blank">Dark Victory</a>, that willingness to play the race card in relation to boat people was a decisive factor in John Howard’s election victory. For Tony Abbott, “Stop the boats” was a major campaign theme when the Coalition won back government in the 2013 election. The current prime minister, Scott Morrison, rose to prominence as Abbott’s unyielding immigration minister who stopped the boats.
While the <a href="https://theconversation.com/christchurch-attacks-strike-at-the-heart-of-muslims-safe-places-from-islamophobia-113922" target="_blank">events of Christchurch</a> may have cramped the opportunity for the Coalition to run hard on fear, promising to be tough on borders and tough on (Muslim) terrorism, the dog-whistle politics on the issue of refugees and asylum seekers will be there for those wanting to hear it.
For Labor these policy issues have been difficult. It was Kevin Rudd who as PM <a href="https://theconversation.com/no-more-asylum-in-australia-for-those-arriving-by-boat-rudd-16238" target="_blank">declared that those arriving by boat would never be settled in Australia</a>, irrespective of the validity of their claims for protection under the UN <a href="https://www.unhcr.org/en-lk/1951-refugee-convention" target="_blank">Refugee Convention</a>. Labor supported efforts to get children out of detention on Manus Island, but doesn’t want to give the conservatives too much space to convincingly advance a “Labor weak on border security” line.
Humanitarian intake is growing
The Coalition governments of Abbott, Turnbull and Morrison have in fact increased Australia’s annual humanitarian intake significantly. The number has <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/BudgetReview201516/Migration" target="_blank">risen from just over 13,750 to more than 18,000</a> – though the government has not loudly broadcast this fact.
In addition, Abbott in 2015 announced a <a href="https://theconversation.com/australia-ups-its-syrian-refugee-intake-but-what-about-its-own-backyard-47160" target="_blank">one-off intake of 12,000 Syrian conflict refugees</a>. Most of them arrived in 2017, effectively doubling the annual refugee intake in that year.
Australia – and the refugees – coped well, demonstrating the nation’s capacity to significantly increase refugee intakes. <a href="https://theconversation.com/refugees-are-integrating-just-fine-in-regional-australia-101188" target="_blank">Our research</a> with newly arrived Syrian, Iraqi and Afghan refugee families suggests they are settling well in Australia, receiving a warm welcome from locals in the cities and regional centres. Employment and family reunification are their key worries.
Labor’s shadow immigration minister, Shayne Neumann, has flagged a new <a href="https://www.sbs.com.au/yourlanguage/punjabi/en/article/2019/02/12/labor-government-will-replace-new-sponsored-parent-visa" target="_blank">temporary sponsored visa for the parents of migrants</a>. Unlike the current visa, it does not have a cap and it might assist refugees to get their parents to Australia.
Labor has <a href="https://www.alp.org.au/asylumseekers" target="_blank">announced it will increase the annual humanitarian intake</a> of refugees to 27,000 by 2025. It will also abolish <a href="https://immi.homeaffairs.gov.au/visas/getting-a-visa/visa-listing/temporary-protection-785" target="_blank">Temporary Protection Visas</a> (TPVs). These visas provide boat arrivals who are found to be refugees the right to stay for only three years with work and study rights and access to Centrelink payments. As Labor argues, this places them “in a permanent state of limbo”.
The Coalition parties have not announced their policy intentions in relation to humanitarian intakes or the rights of asylum seekers, including those who arrived by boat.
At a time when Home Affairs Minister Peter Dutton scans the horizon for new boat arrivals, <a href="https://www.smh.com.au/national/worst-ever-immigration-minister-asylum-seekers-jet-in-under-dutton-s-nose-20190302-p511d8" target="_blank">record number of asylum seekers are arriving by plane</a> under tourist visas. In 2013-14, there were 18,718 asylum applications, including 9,072 boat arrivals. This had increased to <a href="https://thenewdaily.com.au/news/national/2018/12/09/record-number-asylum-seekers-peter-dutton/" target="_blank">27,931 asylum applications, with no boat arrivals, by 2017-18</a>.
<a href="https://images.theconversation.com/files/267995/original/file-20190408-2931-1sgmyyr.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/267995/original/file-20190408-2931-1sgmyyr.png?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Department of Home Affairs
Each year the Australia government sets the permanent immigration targets. Until recently this was set at 190,00. In practice just <a href="https://www.homeaffairs.gov.au/research-and-stats/files/report-migration-program-2017-18.pdf" target="_blank">162,000 immigrants have been admitted</a> over the past year or so.
A token cut and 2 new visas
In this context Prime Minister Morrison’s announcement that the <a href="https://theconversation.com/slimmed-down-migration-program-has-regional-focus-113847" target="_blank">permanent immigration target will be cut to 160,000</a> is really no change in immigration policy. There is nothing to see here if you dismiss the need to be loudly anti-immigration in the current populist political climate.
The announcement is linked to congestion-busting in the major cities of Sydney and Melbourne. It is accompanied by the <a href="https://www.news.com.au/finance/economy/federal-budget/immigration-cuts-and-regional-visas-to-ease-strain-on-sydney-and-melbourne/news-story/da7de88690966d4c202ab0d372a5b253" target="_blank">introduction of two new visa pathways</a> – the Skilled Work Regional (Provisional) Visa and the Skilled Employer Sponsored Regional (Provisional) Visa – for skilled migrants to live and work in regional areas for five years.
These visas offer the carrot of permanent residency at the end of three years to attract new immigrants to regional Australia. In addition, the budget announced that scholarships to the tune of $94 million over four years would be available to domestic and international students who study there.
Temporary migrants exploited
Most immigration policy debates centre on permanent immigration intakes, particularly of humanitarian immigrants and asylum seekers. Yet annual temporary migrant intakes – international students, <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1617/Quick_Guides/WorkingHoliday" target="_blank">working holidaymakers</a> and temporary skilled workers – are <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1617/Quick_Guides/MigrationStatistics#_Table_2:_Temporary%20_and%20214,583%20Working%20Holiday%20Makers%20on%20417%20and%20462%20Visas" target="_blank">three times greater</a> than the permanent intake. <a href="https://docs.jobs.gov.au/system/files/doc/other/mwt_final_report.pdf" target="_blank">Over 800,000 temporary migrants</a> were in Australia in June 2018.
One key policy issue is the exploitation of temporary migrant workers. The Turnbull government abolished the 457 temporary skilled migration visa because of increasing <a href="https://theconversation.com/457-visa-changes-wont-impact-on-wider-temporary-education-workforce-and-maybe-thats-deliberate-76579" target="_blank">reports of abuse and exploitation by employers</a>.
One <a href="https://apo.org.au/sites/default/files/resource-files/2017/11/apo-nid120406-1162971.pdf" target="_blank">recent survey</a> of 4,332 temporary migrant workers found “increasing evidence of widespread exploitation of temporary migrant workers, including wage theft”. <a href="https://www.mwji.org/highlights/2017/11/14/report-released-wage-theft-in-australia-findings-of-the-national-temporary-migrant-work-survey%20and%20other%20abuses%20of%20workers%20rights" target="_blank">Half of all temporary migrant workers may be underpaid</a>. About one in three international students and backpackers earned $12 an hour or less – about half the minimum wage.
This issue goes not just to the ethics of maintaining a temporary migration program largely premised on migrant worker exploitation. It also resonates with Labor’s <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2019-04-05/labors-budget-reply-was-a-careful-pitch-to-voters/10973572" target="_blank">campaign for a living wage and the restoration of penalty rates</a> for workers in response to the low rate of real wage growth in Australia, which constrains consumer demand.
The 2019-20 federal budget allocated extra funding to the Fair Work Ombudsman to bolster enforcement action against employers who exploit vulnerable workers and announced the National Labour Hire Registration Scheme to <a href="https://www.jobs.gov.au/migrant-workers-taskforce" target="_blank">target rogue operators in the labour hire industry</a>. However, the research suggests wage theft is widespread in the small business sector, a key target for tax relief in the budget. It is an area of immigration policy that requires considerably more resources and punch.<img src="https://counter.theconversation.com/content/113557/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
Jock Collins, Professor of Social Economics, UTS Business School, University of Technology Sydney
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/dog-whistles-regional-visas-and-wage-theft-immigration-policy-is-again-an-election-issue-113557" target="_blank">original article</a>.
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Dog whistles, regional visas and wage theft – immigration policy is again an election issue

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The Melbourne based chippies and half brothers, Tim, 32, and Mat, 27, (pictured above) think that they will have the upper hand in the 2019 series of House Rules.
There's no bookies taking bets quite yet ahead of Sunday night's premiere, but the duo reckon they have the requisite "background in carpentry and building, along with being able to visualise things before they are put together".
They will be having Tim’s family home, <a href="https://www.realestate.com.au/sold/property-house-vic-thornbury-128700662" target="_blank">a 1950s weatherboard cottage in Thornbury</a> (pictured below) that’s never been seriously renovated, get the makeover.
<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/2019/4/26/thorn.jpg" alt="">
It cost $972,000 last July, having been held in the same family for over 50 years.
The charming double-fronted home, marketed by Nelson Alexander as having a well-maintained interior, comprises an entry foyer, three large bedrooms, central living room leading through to an updated kitchen and meals area.
There's a separate laundry, store room and verandah that overlooks a large rear yard offering plenty of scope and opportunity to expand on the 352 square metre block.
It had been listed with a $900,000 to $990,000 price guide.
This year, six teams won't just renovate, they will be required to innovate.
The six teams will be renovating and styling each other's homes, with the aim of taking out the top prize of $355,000 in the seventh series of the reality renovation show hosted by Joanna Griggs.
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Lisa and Andy 
SA couple Lisa and Andy had been together for 11 years before they got hitched. 
Newlyweds, Lisa, 30, and Andy, 32 have previously renovated a home. The fireman and flight attendant live in Adelaide.
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Mikaela and Eliza
Not so WA renovation rookies, Mikaela, 24, and Eliza, 21, the surfie sisters who have both been ranked among the top 100 female surfers in the world. Their family home is in the Margaret River region.
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Pete and Courtney 
Victorian dance teachers Pete, 32, and Courtney, 31, come with one of the biggest houses the show has ever seen. 
The pair, who live in a huge brown-brick '80s mega-mansion, are no strangers to renovations, having once flipped a three-bedroom apartment in two weeks. They live in the foothills of Victoria’s Dandenong Ranges at Ferntree Gully.
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Shayn and Carly
Sunshine Coast couple Shayn, 33 and Carly, 31 says their family is fast outgrowing the house. 
Civil engineer Shayn, who has worked as a chippie and construction supervisor, and wife Carly actually call it their three-bedroom double-brick "prison".
"It's a small rectangular box with bars on the windows, security screens all over the place and not much light," Shayn says.
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Katie and Alex
The married NSW-based couple Katie and Alex have a little cottage built in the 1880s in NSW’s Southern Tablelands having moved there from the ACT. 
The stay-at-home mum, and midwife, Katie, 29, and Federal Police officer Alex, 32, desire a working kitchen and a master bedroom that doesn't leak at their Gundaroo home.
A derelict warehouse will serve as the first big test for this year’s teams on House Rules.
Season 7 premieres on Sunday April 28 at 6pm.
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Melbourne chippies Tim and Mat expect they can win House Rules 2019

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McGrath Limited's presence on the lower north shore of Sydney has expanded through an agreement to acquire the real estate business owned and managed by John McManus (currently operating as LJ Hooker Willoughby/Artarmon).
Its ASX shareholders were told the total consideration is expected be $2 million.
“We are excited to welcome John back to McGrath where we expect that he will make a significant contribution to our Lower North Shore business,"McGrath CEO Geoff Lucas said.
"John is without doubt an elite performer within our industry, and has an outstanding depth of knowledge with respect to the Lower North Shore market, where he has lived for over 20 years.”
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Mr McManus returns to McGrath having been their No. 1 agent in FY2011, and ranking in their Top 10 for several years.
Mr McManus left the company to become principal and licensee of LJ Hooker Willoughby/Artarmon in January 2014, where he was awarded the title of Top Sales Agent for NSW/ACT in 2018 and No. 1 World Champion Sales Person for their International division.
McGrath Willoughby will be located at 150 Mowbray Road, Willoughby.
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Lucas advised the acquisition was "consistent with our previously announced corporate strategy of maintaining our presence in the lower north shore of Sydney and expanding our rent roll assets organically and by acquisition."
"The company has entered into an agreement to acquire the business and assets, including rent roll, of a real estate business owned and managed by John McManus (currently operating as LJ Hooker Willoughby/Artarmon)," the announcement said.
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McGrath expand on Sydney's lower north shore 

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A Mentone apartment block is set to go under the hammer.
The 320 square metre 39 Venice Street property has a two level building comprising of six apartments.
There are a couple of two bedroom apartments and four single bedroom units and the building is fully leased.
It also has a communal laundry and on-site parking including one lock up garage.
It is located within easy walking distance of Mentone Village shops which includes Coles, Woolworths, banks, and cafes, and transport including Mentone railway station and buses.
Zoned General Residential 3 under the City of Kingston Planning Scheme, the 651 square metre site covers two titles and has 20 metres frontage to Venice Street and nearly 35 metres to Cremona Street.
The property will be sold subject to month to month leases returning a passing rental of $96,072 per annum.
According to marketing agent, Teska Carson Director, George Takis, the property offers an exceptional location for an apartment investment with strong rental upside and the potential for refurbishment to maximise rental returns. 
“The property presents well in a location which is just what you would look for as an apartment site with excellent access to everything,” Takis said.  
“We believe the apartment rentals are currently below market rates and as such offer immediate potential for rental income growth. Most of the tenants have been long term with few if any rental increases for many years.
“This is a region which will continue to benefit from ongoing demand for housing, and particularly apartment living, and so the growth prospects for apartment investors would appear to be very good.”
The property will be auctioned on Wednesday, May 22, at 1pm on site. 
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Fully leased Mentone apartment block set to go under the hammer 

For most new apartment buildings, the Owners Corporation starts life with little more than a bank account and the first quarterly strata levies.

At <a href="https://www.apartments.com.au/buildings/9-gay-street-castle-hill-9-gay-street-castle-hill-nsw-2154">9 Gay Street</a> in <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a>, it starts with around $7 million in reserve.

It's an unusual legacy of what was once one of Sydney's highest-profile apartment remediation projects. When the development, originally known as Skyview and built by disgraced developer Top Place, came under scrutiny by then NSW Building Commissioner David Chandler, an $11 million remediation bond was negotiated to ensure any building defects could be fully rectified.

The building underwent an 18-month remediation program, during which around $4 million of that bond was spent bringing the building up to the standard it should have been in from the outset.

After extensive inspections, all active rectification orders have been lifted. What's more, around $7.2 million remains secured for the Owners Corporation for the next 15 years.

In a twist few would have predicted, what began as a significant concern for purchasers has left the building with something almost unheard of in the apartment market: a multi-million-dollar financial reserve from day one.

[smartcode_project:default project_id=147685 project_image_fid=359136]

<a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a> Executive Chairman Greg Huxley said the structure offers buyers a level of certainty that is difficult to replicate.

"The $11 million bond established for the Skyview Castle Hill development represents exceptional value, providing genuine financial security for purchasers," Huxley said.

"Unlike a standard insurance policy, this bond consists of real funds held in trust for the Owners Corporation, offering a tangible layer of protection and added peace of mind."

The apartments themselves have been designed with a focus on practical, contemporary living. Interiors feature Smeg appliances, stone benchtops, tiled living areas, carpeted bedrooms, 2.7-metre ceilings, floor-to-ceiling glazing, and ducted heating and cooling throughout.

Residents also have access to a range of shared amenities, including two rooftop barbecue areas, a swimming pool, children's playgrounds, secure building access, storage cages, and visitor parking.

The location continues to be one of the project's strongest drawcards. Castle Hill Metro Station sits virtually on the doorstep, providing direct connections across Sydney's expanding Metro network, while Castle Towers offers extensive retail, dining, entertainment, and service amenities within walking distance.

[smartcode_project:default project_id=147685 project_image_fid=359127]

The building, now named after its location at 9 Gay Street, comprises a diverse mix of one-, two-, and three-bedroom apartments starting from just under $600,000.

Equitifund National Sales Director Ben Hamblett said demand in the Hills District continues to be driven by buyers seeking convenience and connectivity.

"Interest from both owner-occupiers and investors in Castle Hill remains exceptionally strong, with buyers consistently prioritising developments in close proximity to the Metro station and Castle Towers Shopping Centre," Hamblett said.

"There is a clear trend in the market, with purchasers seeking convenient access to transport and lifestyle amenities that support a seamless, low-maintenance way of living."

On top of the long-term protection afforded by the remaining $7.2 million bond, Equitifund is offering a limited-time stamp duty rebate on selected apartments.

Eligible purchasers can also secure finance options, including a 3.99 per cent two-year variable rate, loan-to-value ratios of up to 90 per cent, and interest-only lending options through EquitiCredit.

[smartcode_project_cta:default project_id=147685]

Joel Robinson

Why this Castle Hill apartment building starts with a $7 million advantage

For much of the past few years, conversations about Australia's property market have centred on the rapid growth seen in Sydney, Brisbane, Gold Coast, and Perth. <a href="https://www.apartments.com.au/developments/melbourne-vic-3004">Melbourne</a> has followed a different trajectory.

That relative underperformance is now encouraging some buyers to reassess the city, particularly those willing to look beyond short-term market movements and focus on quality property in established locations, along with the long-term growth prospects of a city expected to overtake Sydney as Australia’s most populous.

John Bekiaris, Research &amp; Market Insights at <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Projects by Equitifund</a>, said Melbourne's current position is attracting increasingly sophisticated purchasers.

"Melbourne continues to present one of Australia's strongest long-term investment stories," Bekiaris says.

"While other capital cities have experienced stronger recent growth, that relative underperformance is exactly what's attracting sophisticated counter-cyclical investors."

[smartcode_project:default project_id=1979 project_image_fid=363268]

Equitifund isn't just commenting on Melbourne's property market, it's investing in it.

The Sydney-headquartered capital partner has taken over the remaining apartments at <a href="https://www.apartments.com.au/buildings/victoriana-melbourne-20-queens-road-melbourne-vic-3004">Victoriana</a>, the recently completed glass-encased development opposite Albert Park Lake in Melbourne's tightly held St Kilda Road precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and built by <a href="https://www.apartments.com.au/builders/hickory">Hickory</a>, Victoriana places residents between one of Melbourne's most recognised parklands and the CBD, offering oversized two and three-bedroom apartments aimed at owner-occupiers seeking a genuine alternative to a traditional family home.

The development comprises 232 completed residences alongside a suite of resident amenities, including a 25-metre indoor swimming pool, gymnasium, landscaped entertaining areas, resident lounges, EV charging, secure basement parking and a concierge-style arrival experience.

[smartcode_project:default project_id=1979 project_image_fid=363229]

The apartments have been designed with owner-occupiers firmly in mind.&nbsp;Open-plan living and dining areas flow onto generous balconies framing views across Albert Park Lake, Fawkner Park, the Royal Botanic Gardens and the Melbourne skyline.

Kitchens feature Gaggenau appliances, stone benchtops and generous preparation space. Bedrooms include built-in robes, while bathrooms feature full-height textured tiling. Hardwood flooring and ducted air conditioning complete residences designed for long-term living.

Rothelowman's architecture takes its cues from the landscape opposite the site. Sweeping horizontal glazing references the movement of Albert Park Lake, while generous balconies and expansive glazing strengthen the connection between the apartments and the surrounding parklands. The result is a building designed to deliver the scale and amenity expected of luxury apartment living, while offering the larger floorplans increasingly sought by owner-occupiers.

[smartcode_project:default project_id=1979 project_image_fid=363284]

The location is one of Victoriana's defining characteristics. Positioned on Queens Road, residents are directly opposite Albert Park Lake and within easy reach of Fawkner Park, the Royal Botanic Gardens, South Melbourne, St Kilda Road and the CBD. With few comparable development opportunities remaining in the precinct, buyers are increasingly placing value on outlooks that are unlikely to be interrupted by future construction.

Greg Huxley, Founder of Equitifund, believes those qualities become even more valuable over time.

"Premium real estate has always rewarded buyers who take a long-term view," Huxley said.

"Victoriana represents the kind of asset that's increasingly difficult to recreate today, particularly in an established location like Queens Road."

He said rising construction costs are also changing the way buyers assess completed developments.

"When you combine an irreplaceable location with thoughtful architecture and premium finishes, you create something that becomes increasingly difficult to reproduce as construction costs continue to rise."

[smartcode_project:default project_id=1979 project_image_fid=363228]

According to National Sales Director Ben Hamblett, enquiry has been driven largely by Melbourne downsizers and buyers upgrading from smaller apartments.

"Interest in Victoriana continues to build, with strong buyer focus on the larger owner-occupier residences within the development," Hamblett says.

"Enquiry is increasingly driven by local buyers who recognise the rarity of what's on offer: park-facing apartments in an established neighbourhood where new development opportunities are becoming increasingly scarce. At Victoriana, the view is not just a feature; it's an appreciating asset in its own right."

He said interstate enquiry has also strengthened as buyers reassess Melbourne's position within the national property cycle.

"Melbourne currently stands as the most compelling entry point of any major Australian capital, and discerning buyers are beginning to recognise what those who move early always understand: the best opportunities are taken before the price rise confirms them."

[smartcode_project_cta:default project_id=1979]

Why now is the time to buy in Melbourne's premium apartment market

Developers and apartment buyers have a narrowing window of opportunity before Brisbane's Olympic infrastructure pipeline begins competing directly with residential construction, pushing up costs, tightening labour supply and making new projects increasingly difficult to deliver.

While Brisbane's apartment market continues to benefit from strong population growth and limited housing supply, industry research suggests the years leading up to 2027 could prove to be the most important period for developers looking to secure builders and buyers hoping to purchase before the next wave of price increases.

A new Colliers report, Brisbane 2032 Olympic and Paralympic Games: Creating Solutions, highlights the scale of the challenge. While thousands of new homes are planned across South East Queensland, the Brisbane Olympic Athletes Village alone will deliver more than 10,500 beds during the Games before being converted into around 1,750 to 2,000 apartments. Equivalent to almost two years of typical inner-city apartment supply, the project will also absorb a significant share of the construction workforce and building materials.

The broader construction pipeline paints an even clearer picture.

Construction Skills Queensland's Horizon 2032 report forecasts Queensland's annual construction pipeline will average $69 billion over the coming years before peaking at $75 billion in 2027-28. Demand for construction workers is expected to increase by 17 per cent to almost 150,000 people, with the industry facing an annual shortfall of around 19,000 workers that could blow out to as many as 35,000 during the peak construction period.

The Olympic venues, athletes village and supporting infrastructure will account for billions of dollars worth of work across South East Queensland through to 2032, creating intense competition for labour at a time when Australia's residential construction sector is already under pressure.

[smartcode_project:default project_id=150489 project_image_fid=373834]

Colliers Queensland Residential Director Andrew Scriven said the convergence of these projects is creating a clear window of opportunity for both developers and buyers.

"From 2027 onwards, the market will shift dramatically," Scriven said.

"Labour will increasingly be locked into government-led infrastructure and Olympic projects, which means private residential developments will face higher costs and tighter margins. The developers who move now are the ones most likely to get projects off the ground."

Scriven said the same dynamic would also affect buyers, with fewer apartment projects expected to launch once construction capacity tightens.

"If you're looking to change your lifestyle over the next five years, now is your window of opportunity to buy."

[smartcode_project:default project_id=150713 project_image_fid=373827]

Developers are already positioning themselves ahead of that window.

Following the success of Monarch at Toowong, Consolidated Properties is preparing to launch two new Brisbane apartment projects in the second half of 2026. They include <a href="https://www.apartments.com.au/new-apartments/gloriette-30-bedivere-street-yeerongpilly-qld-4105">Gloriette</a> at Yeerongpilly Green, a 25-storey tower within one of Brisbane's key Olympic precincts, and <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a recently approved 25-storey riverfront development at 47 Skyring Terrace in Newstead.

Hutchinson Builders will deliver both projects, with early works already underway at Yeerongpilly and Newstead expected to commence later this year.

The timing comes as Brisbane's fundamentals continue to strengthen, with strong interstate migration, population growth and vacancy rates remaining below 1.5 per cent.

Colliers Queensland researcher Pragya Sharma said Greater Brisbane is forecast to require around 40,000 new apartments between 2021 and 2031.

"There's a real mismatch emerging between when housing is needed and when it will be feasible to build," Sharma said.

"As a result, the period leading up to 2027 presents a key window of opportunity for developers to secure approvals, funding and construction capacity, while buyers will have greater choice before supply constraints intensify."

Colliers research outlines a critical pre-2027 window to start residential projects before labour squeeze: now is the time to buy

Developers, buyers on watch in South East Queensland ahead of construction crunch: Colliers

It's taken less than nine months for developer Sherpa Property Group to sell out all 51 apartments in its <a href="https://www.apartments.com.au/new-apartments/flourish-oasis-palm-beach-7-9-sixth-avenue-palm-beach-qld-4221">Flourish Oasis</a> development in <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a>, over a year before its anticipated completion.

&nbsp;

Located at 7-9 Sixth Avenue, the $67 million development has resonated strongly with both local owner-occupiers and downsizers seeking high-quality apartments within walking distance of the beach, dining precincts and everyday amenities.

[smartcode_project:default project_id=151449 project_image_fid=357458]

Christie Leet, Founder of <a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Group</a>, said the sell-out reflected both the strength of the Palm Beach market and the success of Sherpa's community-first approach to development.

"The sell-out of Oasis is a fantastic outcome and reinforces the strong demand we're seeing for thoughtfully designed apartments in lifestyle locations," Leet said.

"From the outset, our vision was to create a development that genuinely enhanced the Palm Beach community while providing residents with exceptional homes and wellness-focused amenities.

"We've been incredibly encouraged by the level of local support throughout the campaign, 72.5 per cent of buyers are locals, with a significant proportion of purchasers choosing Oasis as their future home rather than an investment."

[smartcode_project:default project_id=151449 project_image_fid=357463]

Construction is now progressing following development approval, with trusted builder LPS Group delivering the project and completion anticipated in Q3 2027.

Oasis forms part of Sherpa Group's successful Flourish collection, which has become recognised for its focus on wellness, community and elevated coastal living.

[smartcode_project:default project_id=151449 project_image_fid=357469]

Residents will have private access to a rooftop amenity space featuring a pool, gym, sauna, steam room, hot and cold plunge pools, spa and barbecue facilities.

"The success of Oasis demonstrates that buyers continue to prioritise quality, location and lifestyle," Leet said.

"We are proud to have delivered a project that has resonated so strongly with the market and look forward to bringing Oasis to life for our future residents."

Sherpa recently launched <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a>, its third instalment of the Flourish brand in Palm Beach following Flourish Oasis and <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>.

[smartcode_project_cta:default project_id=151449]

Sherpa sells out Flourish Oasis in booming Palm Beach

Urban Property Group's <a href="https://www.apartments.com.au/new-apartments/la-vera-macquarie-park-94-talavera-road-macquarie-park-nsw-2113">La Vera</a> is leading the next phase of Macquarie Park's residential evolution, with the new apartment development set to become the first of several new apartment projects in the precinct to complete.

The 169-apartment building has now topped out ahead of its scheduled completion in the third quarter of 2026, as new residential investment continues to reshape one of Sydney's largest employment hubs into a true mixed-use precinct.

[smartcode_project:default project_id=134951 project_image_fid=368645]

Cox Architecture has designed La Vera to capture the best of its unique positioning on Talavera Road, orienting the building towards Lane Cove National Park.&nbsp;The building features a sculpted northern façade with flowing curves inspired by the surrounding landscape, while its city-facing elevation adopts a more structured architectural expression to maximise skyline views.

"The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park," <a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> Director Felipe Miranda said.

"The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies."

[smartcode_project:default project_id=134951 project_image_fid=358802]

La Vera offers a diverse mix of one, two, three, and four-bedroom configurations, with prices currently starting from $740,000. Buyers so far have been a mix of Sydney-based investors,&nbsp;metro commuters, owner-occupiers and downsizers from surrounding North Shore suburbs.

Both investors and owner-occupiers have been drawn to La Vera's proximity to Macquarie University, Macquarie University Hospital, Macquarie Centre and the Sydney Metro, infrastructure that supports both strong rental demand and a convenient lifestyle for residents.

The apartments feature full-height glazing, timber flooring throughout living areas, stone kitchen benchtops, SMEG appliances, floor-to-ceiling bathroom tiling and ducted air conditioning.

Residents will have access to a rooftop recreation level featuring a swimming pool, sauna, barbecue facilities and landscaped relaxation areas, complemented by additional communal space at ground level. Many apartments enjoy uninterrupted views across Lane Cove National Park, reinforcing the project's connection to its natural setting.

[smartcode_project:default project_id=134951 project_image_fid=364551]

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>, a family-owned developer and builder with nearly four decades of experience, holds a 4.5-star iCIRT rating and was Australia's first developer to introduce 10-Year Latent Defects Insurance (LDI). La Vera is the first apartment development in <a href="https://www.apartments.com.au/developments/macquarie-park-nsw-2113">Macquarie Park</a> approved to offer the additional insurance protection, alongside a five-year warranty on SMEG appliances.

Urban Property Group CEO Patrick Elias said the additional protection reflects changing buyer expectations in the off the plan market.

"Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share," Elias said.

Following completion of the building later this year, buyers will move into their apartments well before Christmas.

[smartcode_project_cta:default project_id=134951]

Staff reporter

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