<html><body>
Officer houses, according to the REIV December quarter data, had Melbourne's highest price escalation.
Prices grew 13.6% over the quarter with the median shifting from $550,000 to $625,000.
An example of a house in Officer which sold for the current median price is <a href="https://www.realestate.com.au/property/7-barnsley-rd-officer-vic-3809?pid=p4ep-pdp%7Csold-pdp:property-history-cta#timeline" target="_blank">7 Barnsley Road</a> (pictured above).
Sold for $635,000, the four bedroom two bathroom Porter Davis designed home is 18 months old.
Situated in the hub of Timbertop an estate in Officer, the house features an enclosed theatre room.
The house's value has more than doubled since it was purchased off the estate in 2016 for just $280,000.
<img src="https://www.urban.com.au/images/2019/1/21/Officer%202.JPG" alt="">
Another example of this median sale price being present in Officer is <a href="https://www.realestate.com.au/sold/property-house-vic-officer-129741310" target="_blank">6 Marwood Way</a> (pictured above).
Also located within Timbertop, this four year old home was once a display home for the estate.
Sold for $625,000 the three bedroom two bathroom home features a double remote garage, breakfast bar and a home theatre system.
Located within minutes to the freeway and Beaconsfield shopping area the home saw a small price reduction since it's 2017 sale price of $662,000.
<img src="https://www.urban.com.au/images/2019/1/21/Officer%203.JPG" alt="">
A case of the median sale price being displayed in house listings in Officer is <a href="https://www.realestate.com.au/property-house-vic-officer-130285850" target="_blank">9 Oros Way</a> (pictured above).
With an asking price of $590,000 - $640,000 the one year old home is located within the Lavender Estate.
The four bedroom two bathroom home is currently being leased at $1,825 per month until 17/10/2019.
Situated within walking distance to local schools, the hugely popular public transport, the house is a few minutes drive from the proposed retail precinct. 
<table dir="ltr" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td data-sheets-value='{"1":2,"2":"Suburb"}'>Suburb</td>
<td data-sheets-value='{"1":2,"2":"Dec-18 Median"}'>Dec-18 Median</td>
<td data-sheets-value='{"1":2,"2":"Sep-18 Median"}'>Sep-18 Median</td>
<td data-sheets-value='{"1":2,"2":"Quarterly Change"}'>Quarterly Change</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"OFFICER"}'>OFFICER</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":625000}'>$625,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":550000}'>$550,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.136}'>13.60%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"MALVERN EAST"}'>MALVERN EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":1760000}'>$1,760,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":1550000}'>$1,550,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.135}'>13.50%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"THORNBURY"}'>THORNBURY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":1297500}'>$1,297,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":1152500}'>$1,152,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.126}'>12.60%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"TAYLORS HILL"}'>TAYLORS HILL</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":803750}'>$803,750</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":739750}'>$739,750</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.087}'>8.70%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"MOUNT MARTHA"}'>MOUNT MARTHA</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":1102500}'>$1,102,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":1015000}'>$1,015,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.086}'>8.60%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"HAWTHORN"}'>HAWTHORN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":2217500}'>$2,217,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":2058000}'>$2,058,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.078}'>7.80%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"BERWICK"}'>BERWICK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":720000}'>$720,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":671000}'>$671,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.073}'>7.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"CROYDON"}'>CROYDON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":770000}'>$770,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":730000}'>$730,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.055}'>5.50%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"ROWVILLE"}'>ROWVILLE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":838000}'>$838,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":800000}'>$800,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.048}'>4.80%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"FERNTREE GULLY"}'>FERNTREE GULLY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":730000}'>$730,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":700050}'>$700,050</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.043}'>4.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"DIAMOND CREEK"}'>DIAMOND CREEK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":786550}'>$786,550</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":757500}'>$757,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.038}'>3.80%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"CRANBOURNE EAST"}'>CRANBOURNE EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":575500}'>$575,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":557800}'>$557,800</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.032}'>3.20%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"GREENVALE"}'>GREENVALE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":778750}'>$778,750</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":760000}'>$760,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.025}'>2.50%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"BRUNSWICK"}'>BRUNSWICK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":1024500}'>$1,024,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":1001000}'>$1,001,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.023}'>2.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"CRANBOURNE NORTH"}'>CRANBOURNE NORTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":605000}'>$605,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":591600}'>$591,600</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.023}'>2.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"MOOROOLBARK"}'>MOOROOLBARK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":705500}'>$705,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":690000}'>$690,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.022}'>2.20%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"CRAIGIEBURN"}'>CRAIGIEBURN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":571500}'>$571,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":560000}'>$560,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.021}'>2.10%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"RINGWOOD"}'>RINGWOOD</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":880000}'>$880,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":862900}'>$862,900</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.02}'>2.00%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"MORNINGTON"}'>MORNINGTON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":775000}'>$775,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":765000}'>$765,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.013}'>1.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"ROSEBUD"}'>ROSEBUD</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":590000}'>$590,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":585500}'>$585,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.008}'>0.80% 
</td>
</tr>
</tbody></table>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Officer, on Melbourne's outskirts ranked first for Victoria's house price growth: REIV

<html><body>
Dandenong apartment prices have seen a 22% growth spike in the last quarter, according to REIV data.
In 2017 the REIV noted Dandenong sat in the most affordable suburbs, but Melbourne’s ever-expanding boundaries have meant suburbs up to 70 kilometres from the city have pushed Dandenong out of the 10 most affordable suburbs list.
An example of this surging median price is <a href="https://www.realestate.com.au/sold/property-unit-vic-dandenong-129439186" target="_blank">79/35 David Street, Dandenong</a> (pictured above).
The two bedroom one bathroom townhouse sold for $420,000 in December 2018. 
It saw price growth of $125,000 from its 2015 sale price of $295,000.
Situated within walking distance to Hemmings Park, schools, Dandenong Market, Plaza and Dandenong Hospital the property has easy access to trains, buses, Eastlink and the Monash Freeway.
<img src="https://www.urban.com.au/images/2019/1/21/Dandenong%201.JPG" alt="">
Another example of the median price in Dandenong is <a href="https://www.realestate.com.au/sold/property-unit-vic-dandenong-129452490" target="_blank">2/44 Hammond Road</a>  (pictured above).
This three bedroom one bathroom townhouse sold for $423,333 in November 2018.
It saw price growth $33,333 from its December 2017 sale price of $390,000.
The home features solar hot water and has no body corporate fees.
<img src="https://www.urban.com.au/images/2019/1/21/Dandenong%202.JPG" alt="">
An indication of this median price being a target price is <a href="https://www.realestate.com.au/property-unit-vic-dandenong-129925094" target="_blank">5/16 Norman Court, Dandenong</a> (pictured above).
Set on 198 sqm the property is a two bedroom one bathroom townhouse.
Seeking $400,000 - $440,000, the home has a current rental return of approximately $300 per week.
Located near Dandenong station, schools, shops and Dandenong Central the property also has a one car garage.
<table dir="ltr" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td data-sheets-value='{"1":2,"2":"Suburb"}'>Suburb</td>
<td data-sheets-value='{"1":2,"2":"Dec-18 Median"}'>Dec-18 Median</td>
<td data-sheets-value='{"1":2,"2":"Sep-18 Median"}'>Sep-18 Median</td>
<td data-sheets-value='{"1":2,"2":"Quarterly Change"}'>Quarterly Change</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"DANDENONG"}'>DANDENONG</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":415000}'>$415,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":340000}'>$340,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.221}'>22.10%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"KEW"}'>KEW</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":830250}'>$830,250</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":696000}'>$696,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.193}'>19.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"BRUNSWICK EAST"}'>BRUNSWICK EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":576000}'>$576,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":510000}'>$510,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.129}'>12.90%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"BRUNSWICK"}'>BRUNSWICK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":540000}'>$540,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":485000}'>$485,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.113}'>11.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"ESSENDON"}'>ESSENDON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":530000}'>$530,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":485000}'>$485,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.093}'>9.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"CROYDON"}'>CROYDON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":597500}'>$597,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":550000}'>$550,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.086}'>8.60%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"MORDIALLOC"}'>MORDIALLOC</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":703500}'>$703,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":648500}'>$648,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.085}'>8.50%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"ABBOTSFORD"}'>ABBOTSFORD</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":630000}'>$630,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":587500}'>$587,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.072}'>7.20%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"CARNEGIE"}'>CARNEGIE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":552500}'>$552,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":516500}'>$516,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.07}'>7.00%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"BENTLEIGH"}'>BENTLEIGH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":835000}'>$835,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":785500}'>$785,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.063}'>6.30%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"PRESTON"}'>PRESTON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":560000}'>$560,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":533500}'>$533,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.05}'>5.00%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"SOUTH YARRA"}'>SOUTH YARRA</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":587000}'>$587,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":560000}'>$560,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.048}'>4.80%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"RICHMOND"}'>RICHMOND</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":647500}'>$647,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":620000}'>$620,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.044}'>4.40%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"BRUNSWICK WEST"}'>BRUNSWICK WEST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":500000}'>$500,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":480000}'>$480,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.042}'>4.20%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"SOUTHBANK"}'>SOUTHBANK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":572500}'>$572,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":550000}'>$550,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.041}'>4.10%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"DONCASTER EAST"}'>DONCASTER EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":770000}'>$770,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":750000}'>$750,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.027}'>2.70%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"TOORAK"}'>TOORAK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":809000}'>$809,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":795000}'>$795,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.018}'>1.80%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"NORTH MELBOURNE"}'>NORTH MELBOURNE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":624000}'>$624,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":620000}'>$620,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.006}'>0.60%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"PASCOE VALE"}'>PASCOE VALE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":619000}'>$619,000</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":616000}'>$616,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.005}'>0.50%</td>
</tr>
<tr>
<td data-sheets-value='{"1":2,"2":"DOCKLANDS"}'>DOCKLANDS</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":621500}'>$621,500</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value='{"1":3,"3":619250}'>$619,250</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value='{"1":3,"3":0.004}'>0.40%</td>
</tr>
</tbody></table>
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Dandenong apartments prices soar: REIV

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Nick Cole has expanded his boutique Gold Coast agency teaming up with Nicole Bricknell as the new faces of Cole Residential.
Ms Bricknell approached Cole after he opened the Isle of Capri-based agency to work together.
“I was ready for a change,” Ms Bricknell, who was previously at Amir Mian Prestige Property Agents, said.
The agency have marketed their acquisition of Bricknell in the property magazines.
<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/2019/1/21/Cole2.jpg" alt="">
Cole told the Gold Coast Bulletin they shared many contacts and had heard positive feedback about each other so working together was an obvious choice.
Cole had previously worked for his mother, Lucy for opening his Isle of Capri-based agency last September.
Since joining the family business 10 years ago, Nick quickly become one the top selling agents within the agency and across Australia. 
The independent agency joins a field of other boutique-style agencies on the coast including Genc &amp; Co, Alex Phillis Luxury Real Estate, Lambert Willcox Estate Agents and JW Prestige Agents.
 
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Nicole Bricknell joins Cole Residential on the Gold Coast

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GUEST OBSERVATION
The losers from Labor’s capital gains tax policy aren’t all where you would expect them to be, whatever you expect. 
Labor is going into the election promising to tax capital gains more heavily. Depending on who you listen to, it’ll either hit the very highest of earners, or middle earners – people such as teachers and nurses. The same critics have claimed different things at different times.
The truth is even stranger. In part because people who present as being part of one income group are often better described as being part of another.
It’s certainly stranger than fiction.
What are capital gains?
Capital gains are the profits made from buying something at one price and selling it at another. These profits are typically taxed at only <a href="https://www.ato.gov.au/general/capital-gains-tax/working-out-your-capital-gain-or-loss/working-out-your-capital-gain/the-discount-method-of-calculating-your-capital-gain/" target="_blank">half the rate of other income</a>. (Technically, only half of each capital gain is taxed.)
The discount, introduced by <a href="https://www.theage.com.au/opinion/revenge-bloodymindedness-and-gullibility-the-untaxing-of-capital-gains-20150810-giv8zg" target="_blank">Prime Minister John Howard</a> in late 1999, was sold as ensuring that profit takers wouldn’t be taxed on the workings of inflation, a concession that was already built into the system, although in a more complicated way.
But because inflation had fallen so dramatically, the 50% discount went much further. It taxed capital gains, so-called “unearned income”, at a much lower rate than income earned in the form of wages and salaries, and also at a lower rate than bank interest and other forms of income.
In the lead up to the coming election (and the last one) the Labor Party has promised to wind back the discount, cutting it from 50% to 25% for newly-purchased assets held for more than a year, meaning that for those assets <a href="https://www.alp.org.au/negativegearing" target="_blank">three quarters</a> of each gain will be taxed instead of one half.
There are two (apparently contradictory) views about who the changes will hit, both of them spelled out in the pages of The Australian, and both sourced to the treasurer Josh Frydenberg.
On January 5 the treasurer said investors would pay the “<a href="https://www.theaustralian.com.au/national-affairs/treasury/investors-to-pay-worlds-highest-capital-gains-tax-under-alp/news-story/0e5fdcfd4c942f7346c5385a2848dc67" target="_blank">world’s highest tax</a>” under Labor’s changes.
But that would only be the case if they were the very highest earners, on more than A$180,000. And it would only be the case for a short time where the capital gains are a one off.
Mr Frydenberg quoted a rate of 36.75% for capital gains tax, which would be three quarters of 49%, which itself would be made up of the top marginal rate of 45% plus the 2% Medicare levy plus the 2% temporary budget repair levy that Labor plans to reintroduce for two years.
That top marginal rate only applies to Australians on more than A$180,000.
Then ten days later on January 15, Mr Frydenberg said most of the workers hurt would be on much lower incomes, of up to A$80,000.
Then shadow treasurer Chris Bowen entered the debate, calling Fyrdenberg’s second claim “silly”. He said 70% of the total amount of capital gains tax discounts claimed was claimed by the top earners.
But he didn’t address the treasurer’s contention that most of the beneficiaries are lower earners.
What the data says
The Australian National University’s microsimulation model of the tax and social security system, <a href="http://csrm.cass.anu.edu.au/research/policymod" target="_blank">PolicyMod</a>, and the Australian Tax Officie’s <a href="https://www.ato.gov.au/About-ATO/Research-and-statistics/In-detail/Taxation-statistics/Taxation-statistics-2015-16/" target="_blank">Taxstats 2015-16</a> enable us to get at the truth.
Using a 2% sample of the tax returns submitted, including the information about capital gains and capital losses, we are able to work out who is the hardest hit by capital gains tax by income, age and gender.
At first blush we find that almost all capital gains tax collected - 85% - is paid by the top 10% of income earners. The bottom 10% (and also the bottom 20%) pay nothing.
It shouldn’t be surprising. High earners pay more tax than low earners because they earn more. The top 10% of earners also pay 51% of personal income tax.
Not many people pay capital gains tax
Around 900,000 Australians report capital gains per year, a figure <a href="https://www.theaustralian.com.au/news/inquirer/labors-capital-gains-tax-hike-will-hurt-the-economy/news-story/5f8c61d6b57c107dc70bad55553e8de7" target="_blank">used by the treasurer</a> to suggest capital gains are widespread.
But after taking losses into account, the number reporting net capital gains falls to 670,000. Only about 540,000 of them pay capital gains tax. The others have taxable incomes below the tax-free threshold.
Of the 540,000 who do pay capital gains tax, 29% are in the top 10% of earners by taxable income.
A very high 12.7% are in the top 3% of earners, meaning they are on the very highest tax bracket, earning A$180,000 or more.
Small in number though they are, the Australians in the top 3% who pay capital gains tax, pay 74% of it. They pay 30.7% of all personal income tax.
They’re often retirees, and women
Older Australians pay only 5.6% of all personal income tax but about 29% of all capital gains tax.
Surprisingly, partnered women are also over-represented, paying 19.4% of personal income tax but an outsized 28.7% of capital gains tax. This is what you would expect if couples planning to minimise tax put the asset they were planning to buy and sell in the name of the lower paid partner.
Persons with wages and salaries are underrepresented, paying around 88% of personal income tax but only around 47% of capital gains tax.
But these figures are misleading.
Partnered women pay 19.4% of personal income tax but an outsized 28.7% of capital gains tax. 
It gets stranger still
By definition, most people’s incomes will be high in the year in which they pay capital gains tax. Examining their total income in that year, as we have done, will wrongly make it look as if it is mainly high income people who pay capital gains tax.
An alternative measure would be to rank people by their taxable income after deducting their capital gains. It’d rank them by something more like their normal income.
When we do that we find that the share of capital gains tax paid by the top 10% of earners is nothing like the 85% we first found. It’s a much lower 38%.
This measure produces another, very odd, result.
The bottom 10% turn out to pay, not none of the capital gains tax collected as we had thought, but an overweight 20%.
Stranger still, the next-bottom 10%, the people who fit somewhere between the bottom 10% and the 20%, pay only 4% of the capital gains tax collected.
Our lowest earners embrace capital gains…
There’s something odd at the bottom for those reporting capital gains. The clue lies in what they are at the bottom of. They are at the bottom of the taxable income scale.
And they are indeed odd.
The bottom 10% claim an awful lot of capital gains - an average of A$161,000 per capital gains tax payer, which is more than that claimed by any other income group, including the top 10%.
Capital gains make up a large share of their taxable income, larger than for higher income groups, and far lower than for other low income groups. Only around 8% receive government pensions or allowances.
Although their taxable incomes, after deducting net capital gains, are in the bottom 10%, their actual wealth and living standards are likely much higher up the distribution. Many own shares and businesses or have negatively geared investment properties. They get dividend imputation cheques and report business losses.
…although they don’t act like low earners
To get closer to the unvarnished truth, we would need to compare capital gains by household, examining the combined income of each household, which is less easy to manipulate than the income of an individual. But Australia’s tax system is built around individuals, so it’s hard to do. We would also like to know more about their typical income and whether capital gains were likely a one off or something more permanent.
Here’s what we can say:
Labor’s change will “grandfather” existing assets, meaning they will continue to be taxed under the present, more generous, arrangement. This means Labor’s change won’t have much of an effect for years, making any simple guess of how much money it makes an overestimate.
At the moment, personal taxpayers pay A$6.7 billion per year in capital gains tax. Labor’s changes could potentially reap half that amount, but they would build up to it slowly, and by the time they got there, fewer people would look for capital gains as a means of escaping tax, meaning they would never get there, and giving a boost to other kinds of tax revenue.
It’s pretty certain that those who would feel it most would be higher income earners, older Australians, partnered women, quite often on behalf of their higher income partner.<img src="https://counter.theconversation.com/content/109657/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;">
<a href="https://theconversation.com/profiles/ben-phillips-98866" target="_blank">Ben Phillips</a>, Associate Professor, Centre for Social Research and Methods, Director, Centre for Economic Policy Research (CEPR), <a href="http://theconversation.com/institutions/australian-national-university-877" target="_blank">Australian National University</a> and <a href="https://theconversation.com/profiles/matthew-gray-229834" target="_blank">Matthew Gray</a>, Director, ANU Centre for Social Research and Methods, <a href="http://theconversation.com/institutions/australian-national-university-877" target="_blank">Australian National University</a>
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/stranger-than-fiction-who-labors-capital-gains-tax-changes-will-really-hurt-109657" target="_blank">original article</a>.
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Who Labor’s capital gains tax changes will really hurt: Ben Phillips & Matthew Gray

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GUEST OBSERVATION 
Australia is <a href="https://mckellinstitute.org.au/research/articles/why-australia-is-the-worlds-most-successful-multicultural-society/" target="_blank">one of the most successful multicultural societies in the world</a>. Nonetheless, in recent times many Australians have come to regard population growth, and particularly immigration, as a problem – at best – to be solved. In contrast, we believe population growth and migration present a creative opportunity to shape new Australian cities unlike any we have built to date.
In a globalised economy where technology has prevailed over geography, Australians are natural global citizens. However, all is not well in multicultural Australia. Recent and credible <a href="https://www.theguardian.com/australia-news/2018/apr/24/australians-growing-more-concerned-over-immigration-guardian-essential-poll" target="_blank">polling</a> indicates that 64% of Australians think the level of immigration over the past decade has been too high – up from 50% in 2016.
We believe such opinions (in part) stem from entrenched migration patterns. Currently <a href="https://www.theaustralian.com.au/national-affairs/immigration/90pc-of-migrants-settling-in-two-cities/news-story/8746797d36bf40f41587d267e8dcdbc4" target="_blank">90% of new arrivals settle in Sydney or Melbourne</a> where they <a href="https://www.propertyobserver.com.au/http://apo.org.au/node/187861" target="_blank">compound housing affordability</a> and congestion issues, among others. Migrants from overseas are the <a href="http://www.abs.gov.au/AUSSTATS/abs@.nsf/Latestproducts/3218.0Feature%20Article12016-17?opendocument&amp;tabname=Summary&amp;prodno=3218.0&amp;issue=2016-17&amp;num=&amp;view=" target="_blank">main contributors to both cities’ populations growing</a> by over 100,000 people each year.
In response to these issues, the Morrison government is <a href="https://www.theaustralian.com.au/national-affairs/cities-fix-pms-plan-to-send-migrants-to-regions-for-five-years/news-story/c8573e68a1438295818d5aab9de5471b">considering a plan</a> requiring some new migrants, including refugees, to settle for up to five years in regional areas.
However, there are limits to this approach. <a href="https://www.aec.gov.au/Elections/federal_elections/2016/files/2016-aec-results-map.pdf" target="_blank">Voting patterns</a> indicate Australians in regional Australia are also often <a href="http://tapri.org.au/?p=529" target="_blank">resistant to increased migration</a>. Moreover, the mechanisation and automation of farming mean that jobs are often scarce.
So what can Australia do?
Australia will need more drastic solutions over the longer term. Refugees now number over <a href="http://www.unhcr.org/en-au/figures-at-a-glance" target="_blank">25 million people</a> worldwide. Due to climate change alone a <a href="https://link.springer.com/article/10.1057/dev.2011.60" target="_blank">deluge of refugees is predicted by 2050, particularly in Asia</a> – 144 million in China, 63 million in India and 62 million in Bangladesh.
In the face of this, demographer <a href="https://www.propertyobserver.com.au/https://www.hardiegrant.com/au/publishing/bookfinder/book/the-big-tilt-by-bernard-salt/9781740668880" target="_blank">Bernard Salt asks</a>:
<blockquote>
What does Australia do? Board and turn back every boat? Leave the refugees without support on the Kimberley coast? Plan to help as many as we can and then hope we can ship back tens of thousands of people?
</blockquote>
Clearly, Australia will need a plan to deal with this situation, particularly given the panic over the <a href="https://www.aph.gov.au/About_Parliament/Parliamentary_Departments/Parliamentary_Library/pubs/rp/rp1617/Quick_Guides/BoatTurnbacks" target="_blank">arrival of small numbers of “boat people”</a> and the Coalition government <a href="https://www.theaustralian.com.au/national-affairs/cities-fix-pms-plan-to-send-migrants-to-regions-for-five-years/news-story/c8573e68a1438295818d5aab9de5471b" target="_blank">reducing immigration to the lowest level in more than a decade</a>. We could bemoan a lack of support for increased immigration in Australia, or instead bear this resistance in mind and try to find a creative (part) solution.
This is where our Refuge City model is potentially instructive. As <a href="https://oldblog.robwiblin.com/2009/10/17/how-possible-is-a-charter-city-of-refugees-in-australia/" target="_blank">Robert Wiblin has urged in the past</a>:
<blockquote>
If Australians are not so enthusiastic about sharing their good luck with refugees [and migrants], a <a href="https://www.caymanfinancialreview.com/2012/10/12/charter-cities-the-future-trade-centres-of-the-world/" target="_blank">charter city</a> administered by Australia will at least allow them access to the governmental and legal institutions which have served Australia so well.
</blockquote>
In line with this sentiment, we have designed an urban model for a bustling, multicultural and entrepreneurial metropolis located on Australia’s northern coast which would run under its own charter. Such a city would provide refuge and opportunity for many migrants, above and beyond what Australia already <a href="https://www.homeaffairs.gov.au/research-and-statistics/statistics/visa-statistics/live/humanitarian-program" target="_blank">accepts through its humanitarian migration program</a>.
A city of cities on the north coast
Why the northern coast? We selected this area because it has many advantages, such as proximity to rapidly growing Indonesia, availability of mineral and energy resources, and – in the case of the Northern Territory – <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2018-02-27/why-isnt-the-northern-territory-a-state-curious-darwin/9457776" target="_blank">Commonwealth control</a> of land. This is important because it gives the federal government full legislative power to create a charter city unconstrained by opposition from the states.
Refuge City would comprise dense, car-phobic and adaptable urban neighbourhoods (of up to 32,000 people) based partly on migrant ethnicities – forming a city of cities, rather than a monolithic mass of urbanism.
As required, this form would enable different cultural groups to <a href="https://www.propertyobserver.com.au/https://www.amazon.com/Cities-Zero-Andraos/dp/1902902602" target="_blank">follow many of their own cultural practices</a> and develop a <a href="https://www.propertyobserver.com.au/https://www.tandfonline.com/doi/abs/10.1080/01944369708975941" target="_blank">measure of self sufficiency</a>. The design of these neighbourhoods would be developed with the communities and would reference – within limits – the urban traditions of the residents’ home countries so to provide a “home away from home”.
Rather than the cultural model of the “<a href="https://en.wikipedia.org/wiki/Melting_pot" target="_blank">melting pot</a>” – which is under assault in many cities of the world – these urban neighbourhoods would cradle islands of relative cultural specificity yet maintain an overall cultural diversity. Natural areas, recreational open spaces and schools would provide crucial interstitial spaces between the urban islands and their respective communities. Moreover, an integrated bus system and a wide distribution of jobs would also stimulate interactions between communities. This will moderate the cultural specificity of the urban islands over time.
Adapting the charter city model
Like <a href="https://www.aurecongroup.com/thinking/thinking-papers/charter-cities-start-scratch" target="_blank">other charter cities such as Shenzen</a>, an independent government would govern the city, running it with respect to a specific charter. The autonomous government will incorporate an alliance of representatives from Australia’s federal and territory governments and potentially other countries within the Asia-Pacific region and beyond.
The <a href="http://clubtroppo.com.au/2014/10/20/a-charter-city-for-refugees/" target="_blank">charter’s terms, which will define the city’s operation</a>, include a much lower personal and company tax regime than elsewhere in Australia, to stimulate investment and jobs. Businesses would pay workers the Australian minimum wage but would not otherwise offer award wages or conditions. Complementing this will be a basic but liveable social security, housing, education and primary health care system.
On arrival, migrants would receive a <a href="https://www.homeaffairs.gov.au/research-and-statistics/statistics/country-profiles/temporary-migration" target="_blank">temporary visa</a>. They would be able to apply for a <a href="https://www.homeaffairs.gov.au/research-and-statistics/statistics/country-profiles/permanent-migration" target="_blank">skilled migration visa</a> if they gain marketable skills from the city’s trade schools and university campuses, or a permanent business visa if they establish a successful business (both business and education would be conducted in English).
Moreover the city would avoid the need for mandatory offshore detention of arrivals by boat, which the UN Human Rights Council has <a href="https://www.theguardian.com/australia-news/2018/mar/02/scathing-un-migration-report-not-ideal-start-to-australias-human-rights-council-tenure" target="_blank">condemned as a “massive abuse”</a> of migrants. This has in turn profoundly <a href="https://www.theguardian.com/australia-news/2018/mar/02/scathing-un-migration-report-not-ideal-start-to-australias-human-rights-council-tenure" target="_blank">damaged Australia’s moral authority</a> globally. Despite our tarnished reputation, Australian residents would be welcome in Refuge City, whether as students attending global university hubs, starting a business, or enjoying the city’s bustling diversity while on a weekend getaway. Conversely, Refuge City residents would also be able to visit other Australian cities, and in particular Darwin.
Through a leasehold model, Indigenous landholders would maintain ownership of Refuge City land and gain a sustainable and substantial rental income from it. This is not unprecedented. <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/specials/curious-canberra/2016-07-04/can-people-own-land-in-the-act/7550166" target="_blank">Canberra embodies a similar system</a>, with all land leased to “owners” as a Crown lease.
Moreover, given Indigenous culture’s continuing ownership and intimate knowledge of the land, we would develop the Refuge City designs with land councils. Without such sincere engagement, traditional owners would rightly veto new city development under the Aboriginal Land Rights (Northern Territory) Act 1976.
Through our Refuge City model Australians could aid many more refugees than they would otherwise accept as fully fledged immigrants to the existing cities. In so doing, we could make Australia the world’s great 21st-century refuge.
<a href="https://theconversation.com/profiles/julian-bolleter-292111" target="_blank">Julian Bolleter</a>, Deputy Director, Australian Urban Design Research Centre, <a href="http://theconversation.com/institutions/university-of-western-australia-1067" target="_blank">University of Western Australia</a> and <a href="https://theconversation.com/profiles/ken-parish-12678" target="_blank">Ken Parish</a>, Senior Lecturer in Law, <a href="http://theconversation.com/institutions/charles-darwin-university-1066" target="_blank">Charles Darwin University</a>
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/refuge-city-a-new-kind-of-city-for-our-times-106992" target="_blank">original article</a>.
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Refuge City, a new kind of city for our times in Australia's north: Julian Bolleter & Ken Parish

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GUEST OBSERVER
New home sales continued the trend of decline seen throughout 2018.
The HIA New Home Sales Report shows detached house sales fell by 6.7 per cent in the final month of 2018.
Sales during the final quarter of 2018 were 14.9 per cent lower than last year.
While declining home prices in Sydney and Melbourne have made home buyers in these markets far more cautious, the ongoing challenges accessing finance that face many would-be home buyers across the rest of the country continue weigh on new home sales.
New home sales declined steadily throughout 2018. The declines ultimately ended up with sales in December dropping to their lowest level since late-2012.
There is still a large amount of residential building work under way due to residential developments that proceeded with large numbers of off-the-plan sales during 2016, 2017 and early 2018.
These off-the-plan sales have been flowing through the build process and many are now in the construction phase. This high level of building activity is masking a deterioration looming on the horizon.
The slowdown in sales that occurred throughout 2018 shows that the pipeline of new work coming though during 2019 is set to be considerably weaker than we’ve seen in recent years.
Home building activity on the ground is set to decline as the year progresses.
It will be important to watch the trajectory of new home sales during the first half of 2019. This will give us a clear indication of how the contractionary phase of the home building cycle will play out in the second half of 2019 and into 2020.
New South Wales was the only state where sales did not decline during the month (up by 10.0 per cent). Elsewhere sales declined: by 11.8 per cent in Victoria, 9.2 per cent in Queensland, 4.0 per cent in South Australia and 9.2 per cent in Western Australia.
Geordan Murray is a Senior Economist for HIA 
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New home sales at 2012 levels: HIA's Geordan Murray

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Ballarat was the top major city regional performer with 12 percent annual house price growth in 2018, according to the REIV.
It outperformed Greater Geelong which recorded 10.8 percent annual house price growth.
Ballarat is Victoria's third largest precinct, only one hour from Melbourne.
Ballarat has a population of just over 100,000 people, with around 27 percent in rental accommodation, with investors attracted yields averaging 4.4 percent on houses and 5.2 percent on townhouses and units.
Despite the well-documented cooling of inner Melbourne house prices in recent months, Ballarat has been on the radar of buyers with low land prices, from $130,000 to $150,000, and full turnkey house &amp; land packages starting from $410,900.
The strong history of Ballarat provides a sought after niche with period housing, particularly 1900 Victorian-era dwellings.
Ballarat has the benefit of an express train service, with those who commute to Melbourne seeing the trip take around 60 minutes. 
Increasing numbers of new residents to the city has been fuelling demand with Ballarat experiencing 28 percent group within the past 24 months due to growing employment opportunities and the regional lifestyle appeal it offers to many city dwellers.
There's been a heightened infrastructure spend with the Victorian Government spending billions including rail upgrades, relocation of government departments and the hospital refurbishment.
<table dir="ltr" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td>Regional Centres</td>
<td>Dec-18 Quarter</td>
<td>Quarterly Change</td>
<td>Sep-18 Quarter</td>
<td>Annual Change</td>
</tr>
<tr>
<td>Greater Geelong</td>
<td>$555,000</td>
<td>1.80%</td>
<td>$545,000</td>
<td>10.80%</td>
</tr>
<tr>
<td>Greater Bendigo</td>
<td>$352,250</td>
<td>1.80%</td>
<td>$346,000</td>
<td>2.10%</td>
</tr>
<tr>
<td>City of Ballarat</td>
<td>$386,500</td>
<td>1.70%</td>
<td>$380,000</td>
<td>12.00%</td>
</tr>
</tbody></table>
Ballarat is made up of many sub-markets, starting with Ballarat Central.
BALLARAT CENTRAL Lower Quartile: $255,750 Dec-18 Median: $308,000 Upper Quartile: $475,000 Quarterly Change: 11.60%
LAKE WENDOUREE Lower Quartile: $325,000 Dec-18 Median: $500,000 Upper Quartile: $550,000 Quarterly Change: 12.00%
BALLARAT NORTH Lower Quartile: $201,000 Dec-18 Median: $265,000 Upper Quartile: $299,000 Quarterly Change: -4.30%
BALLARAT EAST Lower Quartile: $237,000 Dec-18 Median: $275,000 Upper Quartile: $310,000 Quarterly Change: -0.50%
WENDOUREE Lower Quartile: $167,750 Dec-18 Median: $199,000 Upper Quartile: $337,000 Quarterly Change: -3.40%
ALFREDTON Lower Quartile: $240,000 Dec-18 Median: $288,750 Upper Quartile: $332,000 Quarterly Change: 8.30%
REDAN Lower Quartile: $228,000 Dec-18 Median: $260,975 Upper Quartile: $310,000 Quarterly Change: 3.40%
SEBASTOPOL Lower Quartile: $203,000 Dec-18 Median: $231,000 Upper Quartile: $259,000 Quarterly Change: 0.40%
BROWN HILL Lower Quartile: $255,000 Dec-18 Median: $284,000 Upper Quartile: $295,000 Quarterly Change: 0.60%
MOUNT CLEAR Lower Quartile: $242,500 Dec-18 Median: $275,000 Upper Quartile: $314,556 Quarterly Change: 0.00%
CANADIAN Lower Quartile: $241,000 Dec-18 Median: $279,500 Upper Quartile: $330,000 Quarterly Change: 3.50%
Source REIV
In mid-2018 the Herron Todd White residential report looked at the prestige market noting it "probably kicks in around the $1 million dollar mark, but things really start to get interesting north of about $1.5 million."
These properties are generally situated in Ballarat Central, Lake Wendouree and Invermay with a smattering in Soldiers Hill, Newington and Buninyong.
<div class="column">
In general terms, $1 million to $1.5 million in Ballarat at present will buy you a large fully renovated period dwelling on a block of circa 1,000 square metres.
"If you have more than $1.5 million to $2 million to spend you will be able to get something on Lake Wendouree," the HTW valuer noted.
"It is at this level that the market is considered ultra-prestige."
"The market is being traded mostly by local high net worth individuals and people new to town who have come from markets where the quantum of cash perhaps doesn’t stretch so far. In general purchasers seem to seek high quality locations, with good sized lots and renovated period dwellings."
HTW noted the main drivers of the market are the economic success of Ballarat as a centre.
"This can be measured by population growth, employment growth and perhaps even tourism growth.
"These three measures have performed very well in the past four years and as a result the prestige market has also shown significant growth.
"With further growth in these areas forecast as well as additional local and state government spending, we consider the future growth prospects for the market to be strong.
A Ballarat Central four bedroom sold for $935,000 in April (pictured below).
<a href="https://www.realestate.com.au/sold/property-house-vic-ballarat+central-128084590" target="_blank">Positioned at 217 Windermere St</a>, the Victorian home comes with four bedrooms, open plan kitchen,  spacious lounge/home theatre and landscaped private rear alfresco area.
Further additions include central heating, reverse cycle air-conditioning and double garage.
Positioned on 869sqm, it is within close proximity to cafes and restaurants, the CBD, hospitals and just minutes to the lake and schools.
<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/2018/5/15/%20ballarat%20central%20.jpg" alt="">
A Lake Wendouree three bedroom townhouse was traded for $625,000 (pictured below).
<a href="https://www.realestate.com.au/property-house-vic-lake+wendouree-128325954" target="_blank">The 1/4 Hotham St home </a>features four bedrooms, open plan living/dining area, Victorian Ash kitchen, and low maintenance courtyard garden.
Other features include custom joinery throughout, ducted heating and vacuum, side access to laundry and secure side access.
It is just a couple of blocks from Lake Wendouree and hospitals in this quiet neighbourly street, stroll to cafes, restaurants and Lake amenities.
<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/2018/5/15/Lkae%20wendouree%20.jpg" alt="">
Another Lake Wendouree home, this time representing the median price is <a href="https://www.realestate.com.au/sold/property-house-vic-lake+wendouree-128860942" target="_blank">18 Burnbank Street</a> (pictured below).
Sold for $525,000 last September the house has increased in value by $120,000 since it's 2016 sale price of $405,000.
The three bedroom one bathroom home is set on 549 sqm and is located less than 400 metres from Lake Wenouree itself.
<img src="https://www.urban.com.au/images/2019/1/18/Wendouree.JPG" alt="">
An example of the median sale price in Sebastopol is <a href="https://www.realestate.com.au/sold/property-unit-vic-sebastopol-129925826" target="_blank">4/3 Verdon Street </a> (pictured below).
The property, sold in early December, is currently tenanted at $235 per week.
Sold for $231,000 the two bedroom, one bathroom townhouse saw an increase in price of $36,000 from it's January 2015 sale price of $195,000.
Situated within walking distance of a supermarket, shopping &amp; public transport, the townhouse features a one car garage.
<img src="https://www.urban.com.au/images/2019/1/18/Sebastopol.JPG" alt="">
An example of the median price in Mount Clear is <a href="https://www.realestate.com.au/sold/property-house-vic-mount+clear-128592462" target="_blank">946 Geelong Road</a> (pictured below).
Set on 557 sqm, the three bedroom one bathroom home sold in late July for $268,000.
Last sold in November 2011 for $197,000, the property has increased in value by $71,000 over the past 7 years.
Located in between the Ballarat CBD &amp; Federation University, the property is close to schools, super markets &amp; recreational facilities.
<img src="https://www.urban.com.au/images/2019/1/21/Mount%20Clear.JPG" alt="">
</div>
</body></html>

Ballarat ranked as Victoria's top regional performer with 12 percent 2018 house price growth: REIV

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GUEST OBSERVATION
Financial well-being isn’t always where you expect to find it, in part it depends on attitude. 
Financial well-being is hard to get a handle on.
That’s because it’s a mix of how people feel and how they objectively are.
And it’s multifaceted, including things such as spending, saving, investing, borrowing, and insuring, and competing goals that involve trade-offs, such as whether to spend or save.
To help, the Melbourne Institute and the Commonwealth Bank have pulled the dimensions together in a collection of measures we think are the first of their kind: the <a href="https://fbe.unimelb.edu.au/newsroom/cba-melbourne-institute-financial-wellbeing-scales" target="_blank">Reported and Observed Financial Well-being Scales</a>.
The results released this week show most Australians are doing OK. They report no difficulty paying necessary expenses, can cover unexpected expenses, and feel on track to provide for their financial futures. However, a substantial minority struggle.
As expected, people’s income, assets, and home ownership play big roles in their financial well-being. But their attitudes, capabilities, and behaviour are probably even more important, meaning good financial well-being is possible even at modest levels of income and wealth.
Two ways of examining well-being
Adapting definitions that have been proposed for Australia and elsewhere, we define financial well-being as the extent to which people both perceive and have
<ul>
<li>
financial outcomes in which they meet their financial obligations
</li>
<li>
financial freedom to make choices that allow them to enjoy life
</li>
<li>
control of their finances, and
</li>
<li>
financial security
</li>
</ul>
now, in the future, and under possible adverse circumstances.
To construct the scales, we sieved through 33 self-reported survey measures and 17 bank-record measures that captured different elements of our definition. Formal analyis resulted in our two distinct but related scales.
The first, which we call the CBA-MI Reported Financial Well-being Scale, uses people’s answers to 10 survey questions about how they feel; about things such as dealing with their expenses, building up savings, and control over their finances.
The second, which we call the CBA-MI Observed Financial Well-being Scale, uses data from people’s bank records about their balances, payment problems, and ability to cover unexpected expenses.
The two scales move together. People with high levels of financial well-being on one scale tend to have high levels on the other.
However, the two scales are distinct and capture different aspects of well-being, complementing each other and jointly providing a fuller picture than either could alone.
<a href="https://images.theconversation.com/files/254272/original/file-20190117-24622-8qacip.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/254272/original/file-20190117-24622-8qacip.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
(Source: <a class="source" href="https://fbe.unimelb.edu.au/newsroom/cba-melbourne-institute-financial-wellbeing-scales" target="_blank">Melbourne Institute - Commonwealth Bank</a>)
What do the measures tell us?
On average, Australians enjoy moderate to high levels of financial well-being, but many experience problems. About a quarter of people report difficulty meeting their necessary expenses, and more than a third report not being able to handle a major unexpected expense or not having enough money for future financial needs.
When it came to characteristics associated with financial well-being, we find that people who earn more and own more assets enjoy higher well-being on average. Home-owners, healthier people, and married couples also tend to have a higher financial wellbeing. But within these categories financial well-being can vary.
Both measures of well-being are higher for people who balance their spending and savings, have strong savings habits, always pay their credit card balances, sacrifice for the future, and actively plan and budget.
And there are surprises.
Retirees and older people tend to enjoy higher financial well-being than younger people, contrasting with the view that retirement is accompanied by financial distress.
People with high mortgage debt and large housing costs also experience higher levels of well-being, although this may be associated with the wealth that is associated with their homes.
The strong agreement between the two scales reassures us that they are indeed measuring financial well-being. However, the scales sometimes diverge, particularly when measuring the financial well-being of people with complex financial situations, including immigrants and business owners.
Improving financial well-being
The low levels of financial well-being experienced by some Australians are a cause for concern. Our measures can help identify these people and their circumstances.
More importantly, they tell us that people in similar circumstances can experience very different levels of financial well-being, telling us there is considerable scope for improving outcomes.
And the strong associations of well-being with financial attitudes, capabilities, and behaviours — all characteristics that can be changed — point to promising avenues for interventions.<img src="https://counter.theconversation.com/content/103431/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;">
<a href="https://theconversation.com/profiles/david-c-ribar-411239" target="_blank">David C. Ribar</a>, Professorial Research Fellow, <a href="http://theconversation.com/institutions/university-of-melbourne-722" target="_blank">University of Melbourne</a> and <a href="https://theconversation.com/profiles/nicolas-salamanca-565981" target="_blank">Nicolás Salamanca</a>, Research Fellow, <a href="http://theconversation.com/institutions/university-of-melbourne-722" target="_blank">University of Melbourne</a>
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/the-financially-well-off-defy-the-stereotypes-they-include-retirees-and-mortgagees-103431" target="_blank">original article</a>.
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The financially well-off defy the stereotypes.They include retirees, and mortgagees

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Mixed results out of Western Australia’s economy have coincided with continued weakness in its housing market, which is expected to cool further in 2019, according to the latest report from Moody's Analytics.
The report found that the labour market in Western Australia improved, with the unemployment rate falling in October to 5.4%, still a tick above the nation’s average, while the state’s wage growth is among the lowest in Australia.
<img src="https://www.urban.com.au/images/2019/1/8/WA%20graph%202.JPG" alt="">
Greater Perth’s home values fell -4.4% last year and is set to continue that trend into 2019 with a decrease of -2.1% in house values and -2.8 in unit values.
However Moody's Analytics is predicting a turnaround in 2020 and is forecasting growth of 3.3% for both houses and units.
Mandurah is forecast to have the highest reduction in apartment values of anywhere in Australia in 2019, -14%, while houses will see value reductions of just -2.4%. 
In contrast Mandurah is predicted to have the biggest increases in WA in both houses (7.8%) and units (4.8%) in 2020.
Inner Perth is the only region in WA whose house prices have come off the back of a year of growth and is forecast to grow a further 4.7% in 2019.
Unit values however are set to decrease 4.3% in 2019.
Perth North East will have the highest reduction in house values in 2019 at -8%, while apartments will remain relatively stable losing only -0.1%.
It is the only region that houses wont experience price growth in 2020.
Perth North West will have reductions in house values of -0.1% in 2019 and reductions in apartment values of -3.3%, according to Moody's Analytics.
Both houses and units in South East Perth will experience value reductions in 2019 with house values decreasing by -4.6% and unit values decreasing by -4.1%.
South West Perth is the only WA region forecast to have an increase in unit values of in 2019, 4.7%, while house values are decrease by -5.4%.
In Bunbury house values are forecast to fall by -6.3% in 2019 before making a recovery in 2020 of 2.4%.
The housing market in Western Australia is not expected to recover until 2020 as discussed, and values are not expected to surpass their 2015 peak through the next five years.
Although the housing slump is expected to continue, population growth in Greater Perth and Western Australia has stabilised after falling sharply from 2015 to 2016, despite sizeable outward interstate migration.
<img src="https://www.urban.com.au/images/2019/1/8/WA%20graph%201.JPG" alt="">
Rental values fell more than 20% peak to trough from May 2013 to November 2017, a sign of continued excess supply.
During the fall, building approvals also slowed significantly.
Since then, rental values have remained broadly stable. 
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
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House prices in Greater Perth forecast to fall 2.8% in 2019: Moody's Analytics

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GUEST OBSERVATION
The proportion of households experiencing <a href="https://theconversation.com/two-pictures-of-rental-housing-stress-and-vulnerability-zero-in-on-areas-of-need-77714" target="_blank">rental stress</a> is on the rise across Australia’s major cities. High rental prices have been driving an increase in shared housing. The most extreme form of this is “shared room” housing – where residents share a bedroom or partitioned living space (such as lounge room or garage) with a number of unrelated adults.
Official statistics, such as those collected by the Australian Bureau of Statistics, fail to accurately record room sharing. Public knowledge is limited to anecdotal stories or periodic media coverage of tragic outcomes of living in shared room housing – such as a 2012 apartment <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2015-06-16/landlord-questioned-over-bankstown-fire-unit-at-inquest/6549656" target="_blank">fire that led to the death of an international student</a> in Bankstown, Sydney.
However, the growth of online advertising platforms can provide new insights into shared housing across our cities. For <a href="https://doi.org/10.1080/08111146.2018.1556632" target="_blank">our recently published research</a>, we analysed 1,018 room-sharing listings for Sydney on gumtree.com.au between February and April 2017. While focusing on Sydney, the insights we present here are relevant to all Australian cities.
Who lives in shared rooms and where?
Sharing a room is typically short-term accommodation which allows residents to secure low-cost housing in well-located parts of the city, close to services and employment or education (typically universities). It’s an option most likely to appeal to young and mobile populations. Evidence suggests that international students, holidaymakers (those staying longer than typically housed via services such as Airbnb) and young professionals are most likely to live in shared rooms.
Thus, it’s no surprise that suburbs surrounding the Sydney CBD had the most shared room accommodation. The suburbs of Sydney, Pyrmont, Ultimo, Haymarket and Chippendale (Sydney City local government area – 409 rooms advertised), Bondi Beach and Bondi Junction (Waverley LGA – 80 rooms advertised) recorded the highest numbers. Beyond the CBD, Parramatta, Auburn, Strathfield, Chatswood, Lakemba and Rockdale had relatively high numbers of listings. Parramatta LGA recorded the third-highest number (76).
<a href="https://images.theconversation.com/files/247856/original/file-20181129-170238-1p15j7y.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/247856/original/file-20181129-170238-1p15j7y.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 (Author provided)
These suburbs are well connected by public transport to employment and education opportunities. A number of these locations are immigrant gateways with diverse cultural and ethnic profiles. This suggests shared rooms are an important form of housing for recently arrived migrants.
How many people share a room?
The suburbs with the highest numbers of advertised shared rooms also had more people per shared room. For example, Sydney, Pyrmont, Ultimo, Haymarket, Chippendale, Surry Hills and Darlinghurst (all in Sydney City LGA) had average occupancy rates of more than 2.5 occupants per room. It was not uncommon for two-bedroom apartments to have between 5 and 14 occupants.
<a href="https://images.theconversation.com/files/247858/original/file-20181129-170250-620rlf.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/247858/original/file-20181129-170250-620rlf.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 (Author provided)
In terms of overcrowding (using <a href="https://theconversation.com/overcrowded-housing-looms-as-a-challenge-for-our-cities-96110" target="_blank">the “no more than two persons per room” standard</a>), more than a quarter (27%) of residents living in shared rooms included in this study were in overcrowded dwellings. Inner-city suburbs recorded the highest rate, with 40% of residents in overcrowded dwellings. In middle and outer suburbs, 14% and less than 1% of residents lived in overcrowded dwellings respectively.
It’s more affordable, and profitable too
People’s willingness to live in shared room housing is due mainly to it being cheaper. Our study revealed that shared rooms are rented for much less than the rate paid in the wider private rental market.
For example, in Haymarket, where the average occupancy is three people per room, the weekly rent per resident sharing with two others was $150. This was well below the median weekly rent for a private room in a two-bedroom apartment ($455) or a private one-bedroom apartment/studio ($643).
Adding to the relative affordability of shared room housing, rent typically includes furniture and utility bills. Bond payments are also lower.
Access to this form of housing is easier, too, because formal requirements such as identity and rental history checks are removed. This means residents are typically not covered by formal leasing arrangements and the legal protections that go with them.
The other side of the shared room equation is that it’s an extremely profitable form of housing for landlords – or tenants subletting dwellings. The rent generated per dwelling in shared room housing is well above the rental income if the property was leased to the private market.
For example, in Chatswood the median weekly rent for a two-bedroom apartment with shared bedrooms was $1,020. For a two-bedroom private (non-shared) apartment the median weekly rent was $785. The $235-per-week difference represents a 30% profit margin for landlords/tenants who convert properties into shared room accommodation. This financial premium is observed across most higher-demand shared-room suburbs in Sydney.
<a href="https://images.theconversation.com/files/247864/original/file-20181129-170235-yad3kd.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/247864/original/file-20181129-170235-yad3kd.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
 (Author provided)
Policy and regulatory reforms are needed
Shared rooms raise a series of policy and regulatory concerns.
<ul>
<li>
Rooms are usually sublet accommodation without written tenancy agreements. This leaves occupants in a precarious form of housing. They are often uncertain of their tenancy rights and reluctant to make claims for fear of being evicted
</li>
<li>
shared room rentals typically occur “off the books”, paid for in cash without written receipts. Thus, rental income for landlords and subletting tenants does not appear as income for taxation purposes
</li>
<li>
the allure of higher rental income per property increases chances of overcrowding as more tenants are squeezed into bedrooms and partitioned living spaces
</li>
<li>
the higher rental returns are also likely to remove housing stock from the market for other household types, as dwellings previously available for long-term tenancies are converted to shared room accommodation
</li>
<li>
unlike <a href="https://www.gov.uk/house-in-multiple-occupation-licence" target="_blank">share houses in the UK</a> and our <a href="https://www.fairtrading.nsw.gov.au/housing-and-property/strata-and-community-living/boarding-houses" target="_blank">boarding</a>/<a href="https://www.consumer.vic.gov.au/licensing-and-registration/rooming-house-operators">rooming</a> houses, private landlords are unable to obtain permits from city authorities to convert properties into shared accommodation. This limits the transparency of “responsible” landlords
</li>
<li>
overcrowded properties can lead to structural risks when illegal bedrooms are added and to infrastructure pressures such as low water and gas supply
</li>
<li>
noise and safety-related conflicts are increasingly reported in dwellings (mainly apartments) inhabited by both family (non-shared) and shared households
</li>
<li>
monitoring mechanisms are ineffective. Current inspection laws require that the landlord is notified prior to inspection. This favours landlords/head-tenants who are able to alter the number of tenants before an inspection.
</li>
</ul>
With affordable rental housing in short supply in Australia’s major cities, shared room accommodation is likely to increase. This has profound implications for residents of these rooms, local housing markets and government agencies.
Authors: Zahra Nasreen, a PhD Scholar in Planning and Geography, Macquarie University and Kristian Ruming, an Associate Professor in Urban Geography, Macquarie 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/tracking-the-rise-of-room-sharing-and-overcrowding-and-what-it-means-for-housing-in-australia-107265" target="_blank">original article</a>.
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Tracking the rise of room sharing and overcrowding, and what it means for housing in Australia

An entity directed by HSN's Rafi Assouline and Rebel Property's Allen Linz has filed plans for an impressive new precinct in Woolloomooloo.

The major mixed-use development would transform a prominent William Street site into a new residential village anchored by affordable housing and a large public park.

The proposal, submitted as a State Significant Development Application, covers 164-172 and 174-194 William Street, a 6,398 sqm site between Forbes Street and Dowling Street on the southern edge of Woolloomooloo.

Designed by fjcstudio in collaboration with Bangawarra, Studio Bright and Tribe Studio Architects, the scheme would deliver 227 apartments across four residential buildings ranging in height up to 18 storeys, alongside retail space, public domain improvements and a new publicly accessible park.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="0eb59b7c-914a-4a5c-b849-3a56749f5e93" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.18.51%E2%80%AFAM.png?VersionId=mxM6EEqeoLjrCiTlCzTKTvzpKuh6kSkH" />

It's another design scheme for Rebel, who took <a href="https://www.apartments.com.au/news/nsw/first-look-rebel-property-group-takes-woolloomooloo-precinct-to-nsw-government">concept plans to the NSW Gov late last year</a>.

The latest plans will be a mix of 167 build-to-sell apartments and 60 affordable apartments, with the affordable housing component representing 15 per cent of the project's gross floor area. The apartment mix includes 12 one-bedroom, 53 two-bedroom, 89 three-bedroom apartments and 13 penthouses, while the affordable housing component would comprise 42 one-bedroom and 18 two-bedroom apartments.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="3b3d4553-8a8c-4af5-aa8c-519ffb1e28c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.12%E2%80%AFAM.png?VersionId=_Yb6ibN7eDnOtQjCNDK2eviORa4qzgv." />

Rebel Property is seeking to take advantage of the NSW Government's infill affordable housing bonus provisions under the Housing SEPP, which provide additional floor space and height in exchange for the delivery of affordable housing for a minimum of 15 years. The planning pathway allows a 30 per cent increase in floor space ratio and building height where 15 per cent of the development is dedicated to affordable housing.

&nbsp;

At the centre of the development is a 1,356 sqm sunlit public park designed to become a new community gathering space at the gateway to Woolloomooloo. The park would be complemented by a network of pedestrian laneways connecting William Street with the surrounding streets, improving permeability through what is currently a largely impermeable block.

<img alt="Rebel" data-entity-type="file" data-entity-uuid="257af931-a393-4007-8c6d-7219796df58d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-12%20at%2011.20.51%E2%80%AFAM.png?VersionId=KAHy94GrhaReFsWTGDKfy39EDJ8gEEv4" />

The design team says the public domain has been heavily influenced by the site's topography and Aboriginal cultural heritage, drawing on the escarpments, gullies and landscape characteristics that historically defined the area before urbanisation. The landscape design has been developed in partnership with First Nations consultancy Bangawarra.

The project would be delivered across four separate buildings. The William Street East and William Street West buildings, designed by fjcstudio, would contain the majority of the apartments. Melbourne-based Studio Bright has designed the Forbes Street building, while Tribe Studio Architects is responsible for the Dowling Street building.

Rebel had secured approval for the concept plans late last year.

Joel Robinson

First look: HSN, Rebel, advances Woolloomooloo precinct plans

A locally heritage-listed furniture showroom on Water Street is set to become the centrepiece of a new mixed-use residential development as local developer&nbsp;<a href="https://www.apartments.com.au/developers/keylin-group">Keylin</a> seeks approval for <a href="https://www.apartments.com.au/new-apartments/lotus-on-water-street-290-water-street-fortitude-valley-qld-4006">Lotus on Water Street</a>, a 15-storey project on the Fortitude Valley side of Spring Hill.

The proposal spans 290 Water Street and 137-141 Warry Street, combining several properties into a 2,869 sqm site that sits between Fortitude Valley, Spring Hill and the rapidly evolving Victoria Park precinct. Keylin's plans would deliver 132 apartments alongside new retail, hospitality and commercial space, while retaining and repurposing the historic Brunswick Home Furnishers Showroom that fronts Water Street.

Designed by <a href="https://www.apartments.com.au/architects/jackson-teece">Jackson Teece</a>, Lotus on Water Street comprises a 12-storey residential tower rising above a three-storey podium and communal rooftop terrace. The development includes 76 apartments classified as multiple dwellings and a further 56 units proposed as short-term accommodation, designed to be flexibly used as either accommodation or permanent residences. The apartment mix comprises six one-bedroom, 54 two-bedroom and 16 three-bedroom homes.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="9822bb79-6c49-49c9-95ba-319e8c8d81c3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20front.png?VersionId=ioW8zbN4UVebbLetTFuv92t.HkdgfR5e" />

Residents would have access to an extensive rooftop recreation level spanning more than 1,200 sqm of communal open space. Plans include a pool, gym, sauna, infrared sauna, yoga area, library, private dining room, barbecue facilities and landscaped entertainment spaces, making the rooftop the project's largest shared amenity offering.

At street level, the proposal focuses on the adaptive reuse of the heritage buildings along Water Street, where 518 sqm of retail and commercial space is planned across shop, office and food and drink outlet uses. A permeable residential lobby would be positioned between the retained heritage buildings, creating a pedestrian connection between the historic streetscape and the new tower behind.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="269cf3e0-7d13-48bf-a318-05a00deb5c10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20podium.png?VersionId=DLXmTCLsp6GOcLpQ0h.0z7wKCw59EhN_" />

The heritage retention strategy is central to the scheme. The development application notes that the Brunswick Home Furnishers Showroom and adjoining heritage buildings will remain, with only non-significant structures on the site earmarked for removal under a previously issued Heritage Exemption Certificate. Levels one and two of the new podium are recessed behind the heritage façades to maintain their prominence within the streetscape.

Jackson Teece has drawn inspiration from the site's manufacturing history when designing the podium. The planning documents state that the façade incorporates perforated metal screening that references the woven and rattan furniture historically produced on the site. Cascading and climbing plants are integrated throughout the podium to soften the building's presentation and screen parking levels behind. The landscape strategy also informs the project's name, Lotus on Water Street, drawing on the historic Spring Hollow waterholes that once ran through Spring Hill and the blue water lilies associated with Meeanjin, Brisbane's traditional name.

The proposal also incorporates the neighbouring property at 141 Warry Street, currently occupied by a healthcare service. The existing building would remain, with nine dedicated parking spaces allocated within the new development to support its ongoing operation. In total, Lotus on Water Street proposes 117 car spaces, including 110 resident spaces and seven visitor bays, alongside 100 bicycle spaces.

<img alt="First look: Keylin unveils heritage-led Lotus on Water Street tower in Fortitude Valley" data-entity-type="file" data-entity-uuid="70cf07bc-4fd8-4e70-92dd-be8b21c4e4f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/fortitude%20valley%20site.png?VersionId=txlxrJImM0Sm_vTzHVKh5DDUkyL_CiiA" />

The site sits within the Spring Hill East Precinct of the Spring Hill Neighbourhood Plan and is positioned around 650 metres from both Fortitude Valley Station and Exhibition Station. It is also within walking distance of the King Street precinct, Royal Brisbane and Women's Hospital, Herston Quarter and Victoria Park, which is earmarked to become a major venue precinct ahead of the Brisbane 2032 Olympic and Paralympic Games.

Planning documents describe the location as a key gateway between Spring Hill and Fortitude Valley and highlight the area's increasing importance as new transport infrastructure and Olympic-related investment reshape Brisbane's inner north. The development team argues the project will contribute additional housing supply while activating a section of Water Street that has historically received less investment than other parts of the Valley.

Keylin has become increasingly active across Brisbane and southeast Queensland, assembling sites in strategic inner-city locations. They are currently selling and delivering <a href="https://www.apartments.com.au/new-apartments/oria-spring-hill-447-gregory-terrace-spring-hill-qld-4000">Oria Spring Hill</a>, just over 140 apartments due for completion in 2027.

Keylin plans heritage-led Lotus on Water Street apartment development in Fortitude Valley

Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.

The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.

One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.

[smartcode_project:default project_id=7395 project_image_fid=278194]

<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.

"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.

"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."

[smartcode_project:default project_id=7395 project_image_fid=278196]

The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.

PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.

"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;

"Every apartment was to feel considered, timeless, and highly functional."

[smartcode_project:default project_id=7395 project_image_fid=278195]

Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.

Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.

The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.

"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.

"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."

[smartcode_project:default project_id=7395 project_image_fid=278204]

Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.

Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.

[smartcode_project_cta:default project_id=7395]

Juliet to sit quietly amid Roseville apartment boom

Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.

<a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.

The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.

[smartcode_project:default project_id=150017 project_image_fid=370959]

“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.

The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.

[smartcode_project:default project_id=150017 project_image_fid=370964]

“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.

“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”

[smartcode_project:default project_id=150017 project_image_fid=371430]

Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.

Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.

The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.

LPS Group is expected to start construction later this year.

Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.

[smartcode_project_cta:default project_id=150017]

Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

Are mortgage holders set to get a reprieve from the RBA in 2026?

Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.

NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.

“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.

"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.

Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.

“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”

Dr Auld said inflation risks and labour market outcomes would be important to watch.

“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”

She said tighter financial conditions are expected to weigh on housing and activity.

“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”

Staff reporter

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