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Darwin's house prices have been falling for five years and are now 24.1% down from their 2013 peak, according to Domain's latest House Price Report.
The report found, Darwin house prices fell 0.4 per cent over the quarter and 8.7 per cent over the year to $514,876.
Unit prices fell 0.3 per cent over the quarter and 13 per cent over the year to $321,990.
<a href="https://www.propertyobserver.com.au/Darwin's%20house%20prices%20have%20been%20falling%20for%20five%20years%20and%20are%20now%2024.1%%20from%20their%202013%20peak," target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></a>
Domain Senior Research Analyst, Dr Nicola Powell said, “Darwin's housing market has been challenged in recent years."
"A recovery in Darwin’s housing market largely hinges on the government’s attempts at boosting the population, jobs growth and an improvement in the availability of housing credit,” she concluded.
<img src="https://www.urban.com.au/images/2019/1/23/Domain%20Q4%20Dar.jpeg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Darwin house prices down 24 per cent from 2013 price peak: Domain

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A five bedroom Bar Beach house in Newcastle has been recently sold for $4.25 million. 
It was sold by Anthony Merlo from Dalton Partners in late December.
Set on a landscaped 460 square metre block, the house at <a href="https://www.realestate.com.au/sold/property-house-nsw-bar+beach-130070450" target="_blank">46 Bar Beach Avenue </a>comes with opulent main bedroom on the third level with views.
There are four other bedrooms on the second level, open plan living area, theatre room, covered alfresco area and rear courtyard.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/10/bar%20beach%202.jpg" alt="">
Other features include solar heated pool, gas heated spa, large gym, glass lift, and glass cellar plus bar area with 2 Vintec wine fridges. 
It had last sold at $800,000 in 2004. 
The suburb's median house price sits at <a href="/developments/bar-beach-nsw-2300">$1.15 million</a>, according to CoreLogic. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/10/bar%20beach%203.jpg" alt="">
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Five bedroom Newcastle trophy home sells for $4.25 million

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GUEST OBSERVATION
If you’ve been in central Brisbane recently, you will know there is a new visitor in town. <a href="https://www.brisbanetimes.com.au/politics/queensland/hundreds-of-electric-scooters-appear-on-brisbane-streets-20181116-p50ghq" target="_blank">Lime e-scooters have popped up all over the CBD</a> and neighbouring suburbs. It’s early days for this new mobility provider, so we can’t say if this is a permanent fixture with certainty, but here’s a transport research team’s view on the Brisbane trial and its implications.
Transport disruption makes life difficult for policymakers and transport agencies. Queensland at first <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2016-04-21/taxi-drivers-vs-uber-ride-sharing-drivers-face-heftier-penalties/7344300" target="_blank">attempted to deter illegal ride-sharing</a> but then <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2016-08-11/uber-to-be-legalised-in-queensland/7719078" target="_blank">legalised Uber and Ola</a> in response to public demand. E-scooter sharing systems might be just as transformative for people’s travel.
You can download an app, sign up quickly and for only a dollar unlock a scooter, hit the accelerator and zip down the street at up to 25km/h. Scooters can be picked up and dropped off on footpaths throughout the central city. They offer low-cost travel and produce low carbon emissions.
Previously, North American cities, such as San Francisco and Washington DC, were inundated with e-scooters. In response, some cities banned e-scooters outright, others used regulations to control the new players.
The trial in Brisbane is helping the city and state see if it works and <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-12-23/the-rules-around-scooter-sharing-in-australia/10639170" target="_blank">determine an appropriate regulatory approach</a>. Lime was initially given a “<a href="https://www.theaustralian.com.au/national-affairs/state-politics/scooters-given-a-temporary-weekend-pass-in-brisbane/news-story/f81f9d19fd99327923077337d009a6b4" target="_blank">temporary pass in Brisbane</a>”, allowing up to 500 e-scooters. As long as riders wore helmets (either provided by Lime and attached to each scooter, or bring-your-own) and rode them responsibly, there would be no problem.
Kudos to the Queensland transport minister and his department for being the first in Australia to allow a trial and, more recently, for improving the regulation of these operations. Well done also to Brisbane City Council for allowing the trial in the central business district and working with Lime on the roll-out. It was especially helpful that the council’s contract with its bikeshare operator did not prevent e-scooters from competing for riders.
When you take off on one of these e-scooters, it is liberating. If you’ve used a kick scooter before, even as a child, these new versions are relatively intuitive to ride. The electric motor means Brisbane’s hills are suddenly no problem. A trip from our South Bank campus across the river and through the botanic gardens to connect to a downtown meeting took six minutes and cost just over $3.
No other mode of transport would compete in terms of either time or cost for such trips, unless you bring your own bike or e-scooter with you into town. <a href="https://www.brisbanetimes.com.au/politics/queensland/lime-wants-to-roll-out-more-scooters-on-brisbane-streets-20181204-p50k1c" target="_blank">Thousands of residents and tourists are using the e-scooters</a> in Brisbane each day. Our sources tell us over 100,000 users have made over 300,000 trips since the mid-November launch.
There are <a href="https://www.brisbanetimes.com.au/politics/queensland/fractures-and-head-injuries-scooter-crashes-becoming-a-regular-occurrence-20190120-p50shv" target="_blank">reports of injuries from falling off the scooters</a>. This highlights a need to take it easy your first few trips, to look for problems on any scooter you hire and to wear your helmet.
So what are the problems?
Our observations this last couple of months suggest user behaviour has changed. Some unruly behaviours we saw in the first few days seem have given way to new social norms.
Parking behaviour is also improving. Riders cannot lock the scooter (and stop paying for it) in locations where it might cause a nuisance, such as on the main green bridges. They are both encouraged to park out of harm’s way and forced to submit a photograph of their parking attempt. Park poorly a few times and Lime will suspend your account.
<iframe src="https://www.youtube.com/embed/zOMYOBBRtM8?wmode=transparent&amp;start=0" frameborder="0" width="440" height="260"></iframe>
Lime itself emphasises the need to ride safely and follow the rules.
There are some issues though. The guidance provided to riders about where you can legally ride, whether on the departmental website, news media, the system app or its website, is at times missing, contradictory or just confusing. Fixing that should be easy enough.
Brisbane has not built much bicycle infrastructure in the last five decades, a few notable bridges and riverside paths aside. Nor have we reduced local street speeds to 30km/h, as is now standard European practice. There aren’t obvious safe routes to use when scootering through parts of the central city.
Fixing these issues will be more challenging, but quiet non-polluting e-scooters are clearly preferable to a city centre clogged with cars.
What are the best regulatory options?
Lime has proven these systems work well in Australian cities. But key regulatory questions remain. North American cities are introducing various regulatory systems. These include:
<ul>
<li>permits (often awarded via tender)</li>
<li>maximum fleet sizes</li>
<li>vehicle regulations – especially maximum speeds</li>
<li>go/no-go zones</li>
<li>parking controls</li>
<li>high fees to pick up and impound scooters that operators fail to collect.</li>
</ul>
Our city managers have to decide what options they prefer.
We have five suggestions.
1. There is no need for scooters in Australian cities that have more power or go faster than the current Lime scooters. The decision to choose 25km/h seems appropriate at present. Restricting speeds to 10km/h, as previous laws did in Queensland, would be nonsensical.
2. E-scooter systems are likely a natural monopoly, or perhaps duopoly. This is because one needs many scooters from the same operator available across a wide area to ensure efficiency in operations, keep costs low and provide wide coverage for users.
Brisbane City Council is talking of a probable monopoly, awarded via tender. This is the approach used since the city’s first tram operations in the 1880s. If Australian cities do award monopoly rights we hope they adopt Santa Monica’s use of a levy on the operator that is hypothecated towards improving the city’s bike lanes and bike paths, to create more safe riding space.
3. We recommend scooter parking locations be designated in key locations, such as close to Brisbane’s Queen Street mall, difficult as this will be given the competition for space on the city’s narrow streets and footpaths.
4. Cities should enter into meaningful partnerships with scooter companies that include data sharing for research and analysis of overall city transportation. <a href="http://www.goldcoast.qld.gov.au/thegoldcoast/bike-share-43914" target="_blank">Gold Coast’s MoBike scheme</a> is, without much fanfare, the best-used bicycle-sharing scheme in Australia and an exemplar partnership model.
5. These scooters need to be part of the coming move towards subscription mobility services. Soon we are likely to be offered “<a href="https://theconversation.com/for-mobility-as-a-service-maas-to-solve-our-transport-woes-some-things-need-to-change-105119" target="_blank">mobility as a service</a>” and pay one monthly fee to get public transport plus rideshare, bikeshare and scooter-share trips, some car-sharing and maybe some taxi kilometres. Based on the demand seen in Brisbane, e-scooters should be included in these packages.
This regulatory mix would cover most of the <a href="https://theconversation.com/can-e-scooters-solve-the-last-mile-problem-theyll-need-to-avoid-the-fate-of-dockless-bikes-102633" target="_blank">issues raised by others</a>. Get all this right and e-scooters can help create a safer, more sustainable and liveable city with a better set of mobility options.
Benjamin Kaufman, PhD Scholar in Transport, Griffith University and Matthew Burke, Associate Professor, Cities Research Institute, Griffith University
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/limes-not-lemons-lessons-from-australias-first-e-scooter-sharing-trial-108924" target="_blank">original article</a>.
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Lessons from Australia’s first e-scooter sharing trial

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Perth house prices are now 11% below the peak price they achieved five years ago, according to Domain's latest House Price Report.
However, despite the price falls, underlying demand is rising with the number of views per listing on Domain recording the largest lift of all the Australian capital cities.
Perth house prices were flat over the quarter but fell 3.3% over the year to $546,281.
Perth unit prices fell 3.1% over the quarter and 2.9% over the year to $351,818.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></a>
Domain Senior Research Analyst, Dr Nicola Powell said: "The early signs of Perth’s housing recovery appeared to have faded by the end of 2018. House and unit prices continue to moderate. House prices are now 11% below the peak price achieved almost five years ago.”
"It’s clear that the more restrictive flow of housing finance is hindering housing activity.”
“The foreign buyer surcharge on residential properties introduced in 2019 could also hinder Perth’s housing recovery, keeping overseas residents in rental accommodation rather than purchasing. A tighter rental market and improved population flows suggests the bottom of Perth's housing market is near. However, a true recovery would be dependent on increased credit availability.”<img src="https://www.urban.com.au/images/2019/1/23/Domain%20Q4%20Per.jpeg" alt="" style="font-size: 12.16px;">
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Perth house prices down 11% from their five year peak: Domain

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McGrath Estate Agents has announced high performing agent and area specialist Jamie Benjamin has joined its company owned sales team at McGrath Castle Hill.
The office services the Sydney’s Hills District, specialising in the key suburbs of North Rocks, Baulkham Hills, Castle Hill, Northmead and Winston Hills.
McGrath has also recruited Tamara Wikaruk who returns to the company after three years elsewhere, and will also focus on key suburbs within the area.
Kon Stathopoulous, head of sales for McGrath’s company owned offices, said it was "always heartening" to welcome back an agent to our company.
“Both Jamie and Tamara will join our existing McGrath Castle Hill team, joining David and Thomas Choy, Maree McCrorie, Elise Lau and Peter and Daniel Pokorny and the remainder of the existing team," he said. 
“This entire region continues to offer enormous potential for growth with a vibant professional community, business and infrastructure. It’s ‘Garden Shire’ appeals to families wishing to raise their children, often in a semi-rural environment and just 30 minutes to the CBD.
“In the last 12 months we have focused heavily on the north-west region, particularly the Hills District and the growth corridors around Rouse Hill that is part of the NSW North West Corridor. In the next few months, the north west will have its first heavy train line with the 52km Metro Northwest connecting Cherrybrook, Castle Hill, Bella Vista, Kellyville and Rouse Hill directly to the CBD.”
This is reinforced in the McGrath Report 2019 that with the rise of Western Sydney, everything is about to change and it means big things for the Western Sydney property market. 
“Billions of dollars in government investment, hundreds of thousands of new jobs and Sydney’s second international airport are set to transform this region and electrify one of our most affordable housing markets,” says John McGrath.
Benjamin (pictured above), a longtime Hills resident, started his real estate career in 2002, and has an impressive track record for outstanding sales success in his local market with extensive knowledge, negotiation and marketing skills.
He comes to McGrath from Harcourts where he achieved numerous accolades since 2010, including No 1 Sales Agent NSW (non business owner) – 2013 to 2018. He was also named in the national Top 5 for Harcourts Australia (2015 to 2018), clocking in No 2 &amp; No 3 in 2015 and 2016.
In discussing the current property market, Benjamin said that sales volumes in the area were down about 20-25% but on the flipside, he believed it provided a great opportunity to upgrade.
“Buyers are primarly locals and most come from a 5-10 km radius, where proximity to the school catchment zone is one of their highest priorities. There are excellent choices for education within the area for primary and secondary schooling, both public and private," Benjamin said. 
“My clients are a combination of first home buyers, families, upgraders and downsizers who are going through the life process.”
Wikaruk agrees and said she is seeing good buyer interest. 
“In the last three weeks of December and prior to returning to McGrath, I sold four properties ranging from $1.08 million to $1.35 million in Castle Hill and Baulkham Hills. To me this shows that people still want to transact... and they will for the right property.
“The last six months as an agent, it has been critical to help vendors understand the shift in the market, and ensure they feel armed with the relevant information. It is equally important for clients to understand my primary focus is to help them through the sales process and get them the best possible result.”
Wikaruk who grew up in the area has hit the ground running in her two weeks with four new listings in Baulkham Hills, Castle Hill, Cherrybrook and Northmead.
“I’m really excited about returning to McGrath. I’ve seen what else is out there, having worked for a couple of other agencies and nothing compares. Their diligence in marketing, compliance and support is outstanding and they are committed to providing the best tools possible to help their agents excel - and the ultimate winner will be my vendors and buyers.”
Jamie is an active member of the local community and sponsors several local school initiatives including the North Rocks Caroles by Candlelight, and the Christ The King Primary School Spring Fair and also their Sporting Teams.
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McGrath signals potential for growth in Hills District

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NAB has caved to funding pressures and hiked home loan rates just months after they said they were keeping their variables rates on hold.
NAB chief Andrew Thorburn said on September 10, “we are listening and acting differently”.
“We need to rebuild the trust of our customers, and by holding our NAB standard variable rate longer, we help our customers for longer,” Mr Thorburn he stated.
NAB is lifting rates by 0.12 per cent for owner occupiers paying principal and interest, and 0.16 per cent for investors and interest only customers, effective 31 January 2019.
The average NAB customer on a discounted variable rate will now pay $25 extra per month, almost $300 annually.
<img src="https://www.urban.com.au/images/2019/1/24/NAB%20rate%20hikes%202.JPG" alt="">
(Source: RateCity.com.au)
RateCity.com.au research director Sally Tindall said, “NAB tried to put their customers first, but it appears profit has won out in the end."
“NAB’s previous decision to keep rates on hold was designed to win back the trust of their customers. It was also a play to get new customers in the door."
“The strategy appears to have worked. In October 2018, NAB surpassed ANZ in terms of home loan market share. They now have the third largest home loan book, according to APRA data."
“Already this year we’ve seen BoQ and Virgin Money hike rates due to cost of funding pressures. Now that NAB has hiked as well, others are likely to follow in its shadow,” she concluded.
<img src="https://www.urban.com.au/images/2019/1/24/NAB%20rate%20hikes.JPG" alt="">
(Source: RateCity.com.au)
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NAB hikes variable rates after saying they wouldn't less than 20 weeks ago

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A NAB survey has forecast Melbourne house prices to fall 7 per cent in 2019, more than the drop expected in Sydney house prices.
Sydney house prices are forecast fall 5.4 per cent in 2019.
The only capital cities forecast to grow in 2019 or 2020 are Adelaide and Hobart.
The NAB survey suggests Adelaide house prices will grow 1.7 per cent in 2019 and 2020 while Hobart house prices grow 1.8 per cent in 2019 and 2020.
In the uncertain market Australians plan to sit tight and <a href="/news/australians-plan-to-sit-tight-and-do-nothing-in-the-2019-property-market-nab-survey">do nothing in the 2019 property market</a>, according to the NAB survey. 
<img src="https://www.urban.com.au/images/2019/1/24/NAB%20sentiment%20outlook%203.JPG" alt="">
On average, consumers expect price falls of ‐2.1% over the next 12 months, according to property professional forecasts in NAB’s latest Residential Property Survey. 
NAB's survey found that New South Wales (‐3.1%) and Victoria (‐2.9%) are expected to lead the way down, with consumers a little less pessimistic than property professionals.  
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></a>
Numerous consumers in VIC (39%) and NSW (37%) anticipate price drops of 5% or more with 16% and 17% respectively also predicting falls of more than 10%.
Click <a href="https://www.propertyobserver.com.au/images/2019/1/24/NAB%20sentiment%20outlook%201.JPG" target="_blank">here</a> to enlarge.
<img src="https://www.urban.com.au/images/2019/1/24/NAB%20sentiment%20outlook%201.JPG" alt="">
 
Tasmania is the only state with positive expectations (2.2%).
“Tasmanians are by far the most positive across states, with almost 1 in 2 people there still expecting a positive price outcome, followed by Queensland at around 1 in 3”, said Mr. Oster.
Interestingly 1 in 5 consumers in New South Wales and Victoria still expect house prices to grow next year.  
Click <a href="https://www.propertyobserver.com.au/images/2019/1/24/NAB%20sentiment%20outlook%202.JPG" target="_blank">here</a> to enlarge.
<img src="https://www.urban.com.au/images/2019/1/24/NAB%20sentiment%20outlook%202.JPG" alt="">
By region the downturn is being driven by expectations for larger falls in capital city house prices (‐2.8%), with smaller falls in rural towns (‐1.0%) and major regional cities (‐0.9%).
Consumers living more than 5km from the nearest town (or the ‘bush’) are on average predicting modest growth of 0.6%.
<img src="https://www.urban.com.au/images/2019/1/24/NAB%20sentiment%20outlook%204.JPG" alt="">
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Melbourne houses set to fall the most in 2019: NAB survey

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Australian consumers are uncertain about the future of the property market, according to the latest consumer survey from NAB.
With Australian house prices continuing to moderate, home owners, investors, buyers and sellers now face a different and for some unfamiliar, property market.
This survey found <a href="/news/melbourne-houses-set-to-fall-the-most-in-2019-nab-survey">Melbourne houses are set to fall the most of any in 2019</a>.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></a>
NAB’s Chief Economist, Alan Oster, said “most consumers think now is a good time to renovate their home or buy to live in, but with prices falling across most of the country, not surprisingly they don’t think it’s a good time to sell their home or investment property”.  
<a href="https://www.propertyobserver.com.au/images/2019/1/24/Is%20it%20a%20good%20time%20australia.JPG" target="_blank">Click</a> to enlarge.
<img src="https://www.urban.com.au/images/2019/1/24/Is%20it%20a%20good%20time%20australia.JPG" alt="">
Overall, 1 in 2 Australians said it wasn’t a good time to sell their home or investment property. A much higher number in Western Australia said it wasn’t a good time to sell their home.
“We suspect this is influenced by the fact that some home owners in WA may also be sitting on capital losses” said Mr. Oster.
Over the next 12 months Australians are still most positive about renovating their home and buying a property to live in. 
But Mr Oster said, “overwhelmingly, the majority plan to sit tight and do nothing."
On average, consumers expect price falls of ‐2.1% over the next 12 months compared to ‐2.4% forecast by property professionals that NAB surveyed.   
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Australians plan to sit tight and do nothing in the 2019 property market: NAB Survey

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ASIC has banned Hobart financial planner Matthew Geappen from providing financial services for a period of five years.
ASIC’s concerns related to Mr Geappen’s practice of advising his clients to switch from one insurance product to another which allowed him to generate commissions from insurance providers.
ASIC also had reason to believe Mr Geappen was not adequately trained or competent to provide financial services and was not of good fame or character.
ASIC found that Mr Geappen failed to:
<ul>
<li>act in the best interests of his clients;</li>
<li>give advice that was appropriate; and</li>
<li>give priority to the interests of his clients over his own interests.</li>
</ul>
Mr Geappen was an authorised representative of Financial Wisdom Limited (FWL) from 18 December 2006 to 8 December 2016. He provided financial product advice in respect of superannuation, insurance and income protection products. FWL is a subsidiary of the Commonwealth Bank of Australia. 
Mr Geappen has exercised his right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.
ASIC’s action was in response to information it received from the licensee, FWL, regarding concerns relating to Mr Geappen’s advice and advice processes.
The banning of Mr Geappen is part of ASIC’s Wealth Management Project.
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Hobart financial planner banned for five years

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AMP Capital's economist Shane Oliver now envisages the prospect of an even more severe price correction for Sydney and Melbourne.
"For Sydney and Melbourne our base case has been that prices would have a top to bottom fall of around 20% out to 2020.
"However, the further plunge in auction clearance rates and acceleration in price falls late last year suggest a deeper fall possibly of around 25% (although it’s impossible to be precise).
"This suggests around another 15% fall in Sydney and more in Melbourne.
"A 25% top to bottom drop would take prices back to where they were in late 2014/early 2015."
Oliver says while prices in other cities are being affected by credit tightening they were less speculative and so are less vulnerable in 2019.
His new forecast came in a research paper that answered <a href="/expert-insights/buying/how-bad-will-the-housing-downturn-get-shane-oliver-answers-the-burning-questions">11 burning questions</a> about the housing downturn.
"Perth and Darwin have already seen prices fall back to decade ago levels.
"Other capital cities and regional centres generally didn’t have a boom and so are unlikely to have a bust.
"So for the rest of Australia flat prices to modest gains are likely.
"Taken together this suggests a top to bottom fall in national average prices of 10% to 15%, with another 5% to 10% this year," Oliver said.
Oliver said the movements don’t signal a “property crash”, rather a pullback from the inflated levels of the Sydney and Melbourne markets in the five years to 2017, where prices rose by 72 per cent and 56 per cent respectively.
“A 25 per cent plunge in Sydney and Melbourne may seem like a crash but given the extent of the prior gains it’s arguably not.
"But a 25% national average fall would probably be interpreted as a crash.
"Our assessment is that this is unlikely unless we see much higher interest rates or unemployment (neither of which are expected) driving a sharp rise in defaults and forced property sales or a collapse in immigration (which would collapse demand).
"Strong population growth is still driving strong underlying demand for housing."
He says it is unlikely interest rate cuts will quickly end the property cycle downturn as occurred in the 2008 and 2010-12 downswings.
"Rates are already low and debt is much higher," he said.
 
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Sydney and Melbourne property prices could fall 25 percent: Shane Oliver

A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.

The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.

[smartcode_project:default project_id=150454 project_image_fid=364156]

Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.

“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.

That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.

The absence of holiday letting within the building has also resonated strongly with purchasers.

“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”

[smartcode_project:default project_id=150454 project_image_fid=366491]

The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.

“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.

“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”

[smartcode_project:default project_id=150454 project_image_fid=366486]

Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.

Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.

A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.

The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.

&nbsp;

To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.

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Joel Robinson

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

[smartcode_project:default project_id=139552 project_image_fid=371017]

Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

[smartcode_project_cta:default project_id=139552]

Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

[smartcode_project:default project_id=149594 project_image_fid=362634]

While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Why Hyecorp continues to back Sydney's Lower North Shore apartment market

South East Queensland’s apartment market is entering a new phase defined by rising prices, constrained affordability, and mounting pressure on the construction pipeline, according to RPM Group’s latest SEQ Apartments &amp; Townhomes Market Report.

The May 2026 report highlights a widening divide between what buyers can afford and what developers can viably deliver, with detached house prices continuing to push more buyers toward apartments across Brisbane, the Gold Coast, and the Sunshine Coast.

RPM says Brisbane’s median house price has reached around $1.5 million, accelerating the shift toward higher-density housing as buyers are increasingly priced out of the detached market.

[smartcode_project:default project_id=135094 project_image_fid=356540]

Median unit prices rose across all three major SEQ markets in the March quarter. Brisbane City recorded the strongest annual growth, with median unit prices climbing 21 per cent to $862,000, while the Gold Coast reached the highest overall median at $950,000, up 17 per cent year-on-year. The Sunshine Coast followed at $870,000, representing annual growth of nine per cent.

RPM noted the affordability gap between houses and units remains significant, with detached homes commanding premiums of 67 per cent in Brisbane and 68 per cent on the Gold Coast relative to apartments.

The report suggests this price disparity is increasingly consolidating buyer demand within the apartment market, particularly among downsizers and owner-occupiers.

“Demand is real. Supply is moving. But they’re operating on different timelines and the gap between what’s being built and what buyers can afford is the defining tension in this market right now,” RPM Queensland and NSW Managing Directors Peter Neale and Clinton Trezise said in the report.

[smartcode_project:default project_id=150787 project_image_fid=366230]

While approvals and commencements are strengthening, RPM argues the delivery pipeline remains constrained by construction costs, labour shortages, and extended build timelines.

Apartment approvals across Queensland increased 86 per cent over the year to February 2026, reaching 12,682 approvals, the highest level recorded since 2016. Brisbane overtook the Gold Coast as the state’s most active apartment approval market, with nearly 5,000 apartments approved over the past 12 months.

Unit commencements also strengthened considerably, rising 48 per cent year-on-year to 5,453 commencements in the December 2025 quarter, the highest level since 2018.

However, RPM’s research found apartment delivery timeframes have expanded sharply compared to the previous cycle. Projects are now averaging around 30 months from approval to completion, compared to roughly 20 months a decade ago.

[smartcode_project:default project_id=143932 project_image_fid=367515]

The number of units under construction has climbed to approximately 31,530 dwellings, nearing the previous 2016 peak, though projects are remaining in the pipeline for considerably longer.

Construction costs continue to weigh heavily on feasibility. RPM found the average apartment construction cost in Greater Brisbane reached $630,000 per dwelling in 2025, exceeding both Sydney and Melbourne. Coastal Queensland markets, including the Gold Coast and Sunshine Coast, were even higher at an average of $817,418 per apartment due to the prevalence of larger premium product.

The report also points to increasing pressure from Olympic-related infrastructure spending ahead of Brisbane 2032, with labour competition expected to intensify over the next several years.

[smartcode_project:default project_id=150017 project_image_fid=370960]

ANZ Associate Director of Property Daniel Gradwell said the underlying demand drivers across South East Queensland remain strong, supported by interstate migration, downsizers, and population growth.

“The challenge is bringing enough supply to market to meet that demand, and nothing on the horizon makes that straightforward,” Gradwell said.

RPM’s analysis found the affordability challenge is becoming more pronounced in the new apartment market itself, with only three per cent of surveyed new apartments priced below $1 million.

Instead, the market is increasingly concentrated in higher price brackets, with the most common new apartment price band across SEQ sitting between $1.5 million and $1.75 million. Around half of all new apartment stock surveyed is priced below $2 million.

The report suggests developers are not necessarily avoiding lower price points by choice, but because current construction economics make delivering affordable apartments increasingly difficult at scale.

Rental conditions also remain tight across the region. Median rents for one-bedroom apartments rose 12 per cent in Brisbane over the past year to $580 per week, while Gold Coast one-bedroom rents increased nine per cent to $630.

Despite rising rents, RPM noted bond lodgements have generally trended downward over the past five years, indicating more apartments are being absorbed by owner-occupiers rather than retained as investor-held rental stock.

Looking ahead, RPM expects projects targeting the mid-market owner-occupier segment between $1.25 million and $2 million to remain the most viable part of the market, while premium projects in highly constrained coastal or riverfront locations continue to attract demand.

“Construction costs are rewriting the feasibility rulebook across Greater Brisbane, and with little relief in sight, only projects in the right price band, right location, and with presales secured early will make it through,” the report concludes.

SEQ apartment demand outpacing affordable supply as construction timelines stretch: RPM

Camberwell Junction has long been the epicentre of amenity in Melbourne’s Boroondara region.

For nearly a century, it has drawn both locals and visitors, anchored by the Camberwell Sunday Market, which first operated in 1929 and quickly became a fixture of the suburb’s identity. Over time, the Junction evolved into one of Melbourne’s most established retail and lifestyle precincts, now comprising more than 400 stores and over 300 commercial businesses.

Despite that depth of amenity, one thing has remained notably limited: the supply of new apartments.

In a suburb defined by its heritage streetscapes and tightly held residential stock, new development opportunities have been scarce, particularly within the core of the Junction itself. That lack of supply has left a gap in the market for larger, design-led apartments suited to downsizers and owner-occupiers wanting to remain in the area.

Boutique developer Above Zero identified that gap when it secured a prime site on Burke Road, in the heart of Camberwell Junction.

[smartcode_project:default project_id=4896 project_image_fid=368543]

The site has a long planning history. Various proposals have been put forward over more than a decade, many of which were knocked back by the City of Boroondara, with initial applications dating back to 2015. Above Zero acquired the site in 2022 and returned with a revised scheme, refining both the building’s height and its ground-level interface to better align with Council expectations.

That process has culminated in approval for Camberwell House.

The Cera Stribley-designed development will deliver 57 residences on a 1,950 sqm site within the Camberwell Activity Centre, placing it directly within one of Melbourne’s most established retail and transport hubs.

It is expected to be one of the only new apartment developments to launch in the Junction in recent years, reinforcing the rarity of new supply in the precinct. Currently, there are just a handful of projects on the market in Camberwell, underscoring the significance of a development of this scale and positioning.

[smartcode_project:default project_id=4896 project_image_fid=368544]

Camberwell House has been conceived with a clear focus on larger-format apartments. The project will offer a mix of two-, three- and four-bedroom residences, alongside a limited number of penthouses, targeting owner-occupiers seeking scale rather than volume-driven product.

The building’s vertical presence will also set it apart.

Positioned on Burke Road, the development is set to become one of the taller buildings in its immediate context, allowing for elevated outlooks across Melbourne’s CBD skyline and toward the Dandenong Ranges. In a precinct characterised by lower-scale built form, that height provides a point of differentiation, particularly for buyers seeking outlook and natural light.

[smartcode_project:default project_id=4896 project_image_fid=368568]

Architecture has been led by Cera Stribley, with interiors by GOLDEN and landscape design by Florian Wild. The design approach centres on material consistency and restraint, with residences oriented to maximise light, ventilation and connection to outdoor spaces.

Full-height glazing and generous terraces form a key part of that strategy, allowing apartments to extend beyond their internal footprint and engage with the surrounding environment.

Beyond the private residences, a significant component of the project is its amenity offering.

Above Zero has positioned Camberwell House as a “complete living environment”, incorporating a full floor dedicated to resident facilities. At the centre of that is a wellness zone, including a 12.5-metre lap pool, spa, sauna and treatment spaces, alongside a gym and recovery-focused amenities.

This level of amenity is more commonly associated with inner-city developments, rather than established middle-ring suburbs like Camberwell.

[smartcode_project:default project_id=4896 project_image_fid=368588]

Additional shared spaces include a private library lounge, dining and entertaining areas, and an indoor golf simulator. A self-contained guest suite has also been incorporated, allowing residents to accommodate visiting family or friends without impacting their primary living space.

The inclusion of these facilities reflects a broader shift in buyer expectations.

As more downsizers look to transition from larger family homes into apartments, there is increasing demand for developments that offer not just a residence, but a lifestyle. That includes access to wellness, social and entertaining spaces within the building itself, reducing the reliance on external amenity while still maintaining proximity to established precincts.

Camberwell House is positioned to benefit from both.

Its location places it within immediate walking distance of Camberwell Junction’s retail and dining offering, as well as public transport connections, including tram and train services. That combination of internal amenity and external convenience is central to its appeal.

<section data-scroll-anchor="false" data-testid="conversation-turn-150" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-74" dir="auto">
Jellis Craig Projects Director Stephen Bowtell is handling sales for the project and says Camberwell House offers a rare entry point into one of Melbourne’s most tightly held markets.

“Buyers are recognising that Camberwell House offers something they simply haven’t seen before in Boroondara,”&nbsp;Bowtell&nbsp;says.

“It combines a level of resident amenity and service typically associated with Melbourne’s premium inner-city developments, while being positioned right in the heart of Camberwell Junction.

“The response to the concierge offering has been particularly strong. Buyers appreciate not only the convenience, but also the sense of security and peace of mind that comes from having a dedicated presence in the building every day.

“When you combine that with the wellness facilities, the exceptional arrival experience, and panoramic views across both the CBD skyline and the Dandenong Ranges, it creates a lifestyle proposition that is genuinely unique within the local market.”
</section>

[smartcode_project_cta:default project_id=4896]

Staff reporter

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