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A two storey modern $3.35 million Freshwater home on Sydney's northern beaches was the highest reported weekend auction sale.
The cheapest capital city offering was a <a href="https://www.realestate.com.au/property-unit-vic-footscray-127102346" target="_blank">one bedroom Footscray apartment</a>, but it was passed in at $210,000 having come with $230,000 plus hopes.
It was the first weekend for sales since Corelogic advised capital city dwelling prices fell by 0.5% in January, while regional prices grew by 0.2% over the month, the fourth consecutive month they’ve performed better than the capitals.
Regional Australia had plenty of cheap weekend results including <a href="https://www.realestate.com.au/property-house-qld-grantham-127202398" target="_blank">a three bedroom $115,000 house on 1000 sqm at Grantham</a> in Queensland. It last sold at $65,000 in 1989, reflecting two percent annual price growth in the Toowomba district town.
There was a $72,000 sale in regional Victoria when a t<a href="https://www.realestate.com.au/property-house-vic-dunolly-127247862" target="_blank">wo bedroom Dunolly cottage</a> went to auction, listed with $65,000 plus expectations. It last sold at $40,000 in 2000, reflecting three percent annual price growth. 
There was <a href="https://www.realestate.com.au/property-unit-nsw-tooleybuc-127160930" target="_blank">a $196,000 sale at Tooleybuc</a>, with views of the Murray River, of a two bedroom villa. Set on the NSW border in the western Riverina, it last sold at $78,000 in 1995, reflecting four percent annual price growth.
The auction market is slowly starting to bounce back from the seasonal Christmas holiday slowdown, with volumes lower than the same time last year.
CoreLogic was tracking 779 auctions over the week to Saturday, compared with the 881 homes taken to auction this week last year. 
Click here <a href="https://www.propertyobserver.com.au/images/2018/2/5/stock_levels.jpg" target="_blank">to enlarge.</a>
<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/2018/2/5/stock_levels.jpg" alt="">
Melbourne was the only capital city to see an increase in volumes year-on-year with its prices ranging up to $1.41 million when <a href="https://www.realestate.com.au/property-house-vic-highett-127275306" target="_blank">a four bedroom 1940s Highett house</a> was sold, at close to the suburb median house price.
The Middleton Street, Highett house had been listed with $1.34 million to $1.4 million price guidance, having last sold in 1986 at $81,400.
Around 290 Melbourne auctions were held with a preliminary auction clearance rate of 72.8 per cent.
"Towards the end of 2017, Melbourne clearance rates sat around the 65 per cent mark," CoreLogic auction analyst Kevin Brogan noted.
Adelaide’s preliminary clearance rate was 76.7 per cent, the best performing mainland capital city. There were 97 Adelaide auctions, compared to the 144 held over the comparable week last year.
It included <a href="https://www.realestate.com.au/property-townhouse-sa-plympton-127266186" target="_blank">a two bedroom Plympton townhouse that fetched $288,000</a>.
The coastal northern Sydney beaches home sold for $3.35 million was the four bedroom home at <a href="https://www.realestate.com.au/property-house-nsw-freshwater-127296178" target="_blank">39 Albert Street, Freshwater</a> (pictured) that sat on a 380 sqm block.
<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/2018/2/5/fresh2.jpg" alt="">
It last sold at $1.4 million in 2006.
Across Sydney, 207 auctions were held over the week, including 180 on Saturday, up from just 42 on the previous weekend. 
The preliminary clearance rate of 63.1 per cent was down from the 72.3 per cent success rate this time last year across 259 auctions. 
Click here <a href="https://www.propertyobserver.com.au/images/2018/2/5/clearance_rates.jpg" target="_blank">to enlarge.</a>
<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/2018/2/5/clearance_rates.jpg" alt="">
There were 98 Brisbane homes taken to auction with a preliminary clearance rate of 55.4 per cent.
Across the Gold Coast 56 results have been reported so far, with a success rate of 48.2 per cent.
Queensland's top sale came when the former Queensland Governor Leneen Forde sold her Gold Coast home of 25 years for $3.1 million.
<div>There were 14 registered bidders seeking to buy the <a href="https://www.realestate.com.au/property-house-qld-bilinga-127239402" target="_blank">four bedroom beachfront Pacific Parade home </a>which exceeded the previous $2.45 million record price for the strip.</div>
<div>Forde was the Governor of Queensland for five years until 1997, and later chaired the Commission of Inquiry into Abuse of Children in Queensland Institutions.</div>
<div> The 1980s brick home was bought by the Liberal National Party local member for Currumbin, Jann Stuckey.</div>
<div>
In Perth, 30 auctions took place this week, with Perth’s preliminary clearance rate of 66.7 per cent. 
Canberra’s preliminary auction clearance rate of 64.4 per cent this week was lower than the 70.5 per cent recorded last year. 
CoreLogic recorded just three auction results across Tasmania this week with two sales.
One was $375,000 when <a href="https://www.realestate.com.au/property-house-tas-west+launceston-127291270" target="_blank">a three bedroom 1900s West Launceston cottage</a> was sold. It last sold in 2009 at $300,000.
Click here <a href="https://www.propertyobserver.com.au/images/2018/2/5/sub-region_performance.jpg" target="_blank">to enlarge.</a>
<a href="https://www.propertyobserver.com.au/images/2018/2/5/sub-region_performance.jpg" 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/2018/2/5/sub-region_performance.jpg" alt=""></a>
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j.ballantyne1990-6AQqhLzZaK

Regions alight, as Freshwater home kicks of 2018 auction sales

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Four capital city unit markets kick off 2018 in decline, according to the latest HTW property clock.
Sydney is in decline. Brisbane, Canberra and Perth are described as declining markets. 
The latest property clock is not too different than September when the Melbourne apartment market was still at its peak, according to Herron Todd White’s latest report.
Melbourne is the only major capital city at its peak, which has got busier.
The peak last September consisted of the NSW Central Coast, Coffs Harbour, Gold Coast and Newcastle. The February clock adds the Gold Coast, the NSW mid North Coast and the south east NSW as also at the peak in the market.
September Property Clock (below) 
<a href="https://www.propertyobserver.com.au/images/2017/09/07/Screen%20Shot%202017-09-07%20at%202.15.09%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/09/07/Screen%20Shot%202017-09-07%20at%202.15.09%20pm.jpg" alt="">
 
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Four capital city unit markets kick off 2018 in decline: HTW property clock

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Where are the early bird 2018 vendors?
Saturday saw 175 or so auction, down on the 215 offerings on the same Saturday last year.
Total new listings around Sydney in the past 28 days are down by around 10 percent on last year, suggesting prospective vendors aren't rushing the market with listings.
Perhaps they've quickly appraised high levels of unsold stock from last year might be a weight on the 2018 market.
CoreLogic calculate unsold Sydney stock from last year at 20,000 plus, up 23 percent on last January, meaning much more choice for buyers than this time last year.
Negative headlines - along with the ensuing confirmatory chat around the backyard summer bbqs - do have the capacity to undermine our collective psyche.
With Easter early this year, I'd expected the listing momentum to be well underway.
January numbers are always low, and often hard to read the market direction, but last week saw just 38 auctions compared to 84 in the prior January 2017 period.
It is possible that the optimistic rush that starts off most auction years may not emerge as much as is traditionally the case.
Maybe discretionary vendors don't think it is quite the right time to test the market, or maybe they wish to list off-market utilising agency buyer databases to test price strength.
The housing market downturn data that emerged late last year, and continued this week, certainly had the potential to un-nerve the Sydney property market. 
But I do love February auction clearance rates.
They are always much stronger than where the prior year left off.
December auctions saw a fatigued 54 per cent clearance rate, according to CoreLogic.
The auction success rate declined through what was the bumper spring selling season and then into early summer.
The mood shifted from crazy to cautious over the year.
Last February there was an 79 percent opening month auction success rate which was up on the December 2016 close of 73 per cent.
Through the years there have been even bigger new year rebounds. 
February 2016 had a 75 per cent success rate as against the 55 percent in December 2015.
There was another huge turnaround coming out of the global financial crisis over summer with the December 2008 success rate being 42 percent but 63 percent in February 2009.
Confident starts after the summer break are or course no guarantee that the entire year remains strong.
When deciding just how to list your home this year, best ask your panel of prospective listing agents not only how they went last year, but contrast their results against the overall suburban trend.
Let's not forget home owners are still substantially wealthier from housing in Sydney, and even with the recent mild declines still slightly up over the past year.
Certainly the days of those double digit annual gains for the Sydney housing market are gone. 
<div>
But this is not to say 2018 won't be a healthy market for your offering. 
This article was first published in The Saturday Daily Telegraph.
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Sydney auction and private treaty vendors aren't rushing the 2018 property markets

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The apartment within the inner city Brisbane precinct of Auchenflower has been sold by mortgagees.
Set in the 2005-built Linear building, the newly painted and re-carpeted third floor apartment was marketed as offering executive living with river views.
It fetched<a href="https://www.realestate.com.au/sold/property-apartment-qld-auchenflower-126919778" target="_blank"> $800,000</a> when sold by Franzwa Van Vuuren from Brisbane West Real Estate.
The developers had sold it in 2006 at $1,150,000. 
The 10/8 Dunmore Terrace apartment, with access via Lang Parade, came with three bedrooms, two bathrooms, and two car tandem basement parking.
The 40 sqm balcony has river views.
According to CoreLogic, the suburb's median unit price sits at $425,000.
There were two sales in Linear last year with a three bedroom sub-penthouse fetching $1,275,000, having previously sold at $1.3 million in 2008.
The developers has sold it off the plan in 2003 at $915,000. 
There was a $485,000 two bedroom sale which had sold at $440,000 in 2006.
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Inner city Auchenflower apartment in Brisbane sold by mortgagee

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Canada's Public Sector Pension Investment Board (PSP Investments) has added to its Australian farming operations, buying the NSW cropping assets of mining and agribusiness giant, Glencore via its Daybreak Cropping venture.
Daybreak is the national broadacre cropping business formed in 2016 as a partnership between Australia’s Warakirri Asset Management and PSP, one of Canada’s largest pension investment managers.
The farming deal for comes as part of a decision by Glencore to withdraw from grain production to concentrate on grain handling and marketing in Australia.
The joint venture owner, Warakirri, is already one of Australia’s largest grain growers.
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Canada's Public Sector Pension Investment expands its Australian rural footprint

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It’s not often there are <a href="https://www.businessinsider.com.au/anz-forecasts-another-interest-rate-hike-in-may-as-australias-inflation-outlook-picks-up-2018-1" target="_blank" style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.16px;">news stories</a> anticipating Australian Bureau of Statistics data a week before it comes out. But Wednesday’s Consumer Price Index was an exception. <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/6401.0" target="_blank" style="font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12.16px;">The data showed</a> a 0.6% rise in the Consumer Price Index for the December quarter, bringing the annual rate up to 1.9% (from 1.8% in the 12 months to September).
This is still below the Reserve Bank of Australia’s <a href="https://www.rba.gov.au/inflation/inflation-target" target="_blank">target range</a> of 2-3%, but it’s edging closer. Kind of. It was still below what was <a href="https://www.rba.gov.au/publications/smp/2017/aug/pdf/06-economic-outlook.pdf" target="_blank">forecasted</a>.
One reason why market participants follow the Consumer Price Index so closely is the impact it has on the RBA in setting the official cash rate. For the RBA to start raising interest rates would require it to be pretty confident that the <a href="https://www.investopedia.com/terms/d/disinflation.asp" target="_blank">disinflationary</a> pressures in the Australian economy have abated.
That still seems unclear, which is why it is a near certainty they will leave the cash rate unchanged at the next board meeting on Tuesday.
Two changes to how the Consumer Price Index is calculated were also introduced. Firstly, the weights that different categories of expenditure receive were tweaked, as they are periodically. This is to make sure that the goods in the “basket” reflect what households are actually spending their money on.
In the new calculation, items like childcare (now 1.35%) and education (now 4.27%) <a href="https://www.ausstats.abs.gov.au/ausstats/subscriber.nsf/0/B1D241EA20B49DA0CA258225000D7F1F/%24File/64400_2017.pdf" target="_blank">get a larger weighting</a>.
A less routine and more interesting change was to use scanner data from retailers at point-of-sale in calculating the Consumer Price Index. This was spearheaded by the work of my UNSW School of Economics colleague Professor Kevin Fox, who <a href="http://www.abs.gov.au/ausstats/abs@.nsf/latestProducts/6401.0Media%20Release1Dec%202017?OpenDocument">was quoted by the ABS</a>:
I strongly support the ABS decision to implement new CPI methods for the treatment of transactions data… These new methods will enhance the accuracy of the Australian CPI, provide additional analytics and better inform policy formulation.
Scanner data has been used in the Australian CPI since 2014, and makes up about one quarter of the expenditure basket. There were some issues, however, in how that data was incorporated. Roughly speaking (<a href="https://www.ausstats.abs.gov.au/ausstats/subscriber.nsf/0/79CD01D5D060B163CA2581400020AC01/%24File/6401060004_2017.pdf" target="_blank">for technical details see the ABS report</a>), the changes involve using all the products available (rather than a sample) and weighting products by their economic importance. A bonus for the cash-strapped ABS is that, as they put it
The use of multilateral methods will require fewer resources in the medium term.
Using more data, and using it better is definitely a good idea. And in the long run it will give us more informative, and reliable inflation figures.
<a href="http://www.rba.gov.au/statistics/frequency/fin-agg/2017/fin-agg-1217" target="_blank">Reserve Bank of Australia data</a> released Wednesday showed fairly steady credit growth compared to previous months. Housing credit grew at 6.3% for the year to December, as in 2016. Of course, one doesn’t want this to be too high given concerns about property bubbles, not too low given the importance of the housing market to the broader economy.
Meanwhile, in the US, this week marked the final board meeting of outgoing Federal Reserve Chair Janet Yellen. As expected, they left official interest rates unchanged at 1.25-1.50%, <a href="https://www.federalreserve.gov/monetarypolicy/files/monetary20180131a1.pdf" target="_blank">issuing this statement.</a>
The Fed continues to be heavily focused on inflation, much like the RBA. The Federal Open Market Committee statement made that point, stating:
<blockquote>
Inflation on a 12‑month basis is expected to move up this year and to stabilise around the Committee’s 2% objective over the medium term. Near-term risks to the economic outlook appear roughly balanced, but the Committee is monitoring inflation developments closely.
</blockquote>
This is best read as a sign that another rate rise at the March meeting is likely, unless material new information arrives in the interim.
<img src="https://counter.theconversation.com/content/90924/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">One of the significant economic stories of 2018 seems likely to be the divergence between US and Australian interest rates, what it means for the Australian dollar, and what it means for capital flows to Australia. At the moment, it seems the Fed will steadily raise US interest rates this year, while the RBA will be stuck with hard choices and may be reticent to begin a tightening cycle.
<a href="https://theconversation.com/profiles/richard-holden-118107" target="_blank">Richard Holden</a>, Professor of Economics and PLuS Alliance Fellow, <a href="http://theconversation.com/institutions/unsw-1414" target="_blank">UNSW</a>
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/vital-signs-weak-inflation-means-interest-rates-arent-rising-anytime-soon-90924" target="_blank">original article</a>.
Vital Signs is a weekly economic wrap from UNSW economics professor and Harvard PhD Richard Holden (<a href="https://twitter.com/profholden" target="_blank">@profholden</a>). Vital Signs aims to contextualise weekly economic events and cut through the noise of the data affecting global economies.
 
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Rates won't rise anytime soon with weak inflation: Richard Holden

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Ashley Williams, chief executive of the Melbourne-based Evolve Development, has admitted it took his company 14 months to reach an 80% presales on its Southbank offering.
Prices began at $420,000 after marketing kicked off through Colliers in June 2016.
Prices now start at $405,000.
Demolition <a href="https://www.realestate.com.au/project/botanic-southbank-600013410" target="_blank">on the site</a> only started late last year with construction set to commence soon on the 20-level Botanic Melbourne residential tower in Southbank.
"In a normal market that would have been eight or nine months ago," Williams told The Australian Financial Review.
"It's like a perfect storm of regulation and changes.
"What we've experienced over the last 12 months has been a whole series of government interventions that have basically scared away the investor buyer in the market, particularly in apartment developments and more medium-density-style developments."
It's a reference to the Andrews Government removing stamp duty savings for investors, and foreign taxes by both state and federal governments, along with the Turnbull Government's decision to restrict sales to a 50% FIRB cap.
It was 2013 when Williams and the late establishment powerbroker Ron Walker established what was once billed as "Melbourne’s fastest-growing property developer with the Midas touch".
Walker was a co-founder of legendary property developer Hudson Conway – builder and founding operator of Melbourne’s Crown casino – with Lloyd Williams (no relation to Ashley) and Roderick Carnegie in 1977.
Walker once admitted that getting back into property after selling out of Hudson Conway was not on his to-do list.
“I thought that was the end of my property development days after all those years," he said in 2012.
Williams, a former civil engineer, got his grounding in the apartments market as a development manager with Michael and Andrew Buxton’s MAB Corporation.
Williams and Walker, dubbed the property sector’s unlikely billion-dollar duo, came to be in partnership back in 2003 via Hugh Morgan, who is Williams’s father-in-law.
It was Evolve that helped Walker being a staple of the Rich List.
The first apartment projects, were boutique developments in North Melbourne, Prahran and Carlton between 2005 and 2008, sold off the plans within months of becoming available.
“We always sell off the plan; that’s the risk model of the projects we get into," Williams said in 2014.
“It’s a good discipline for us to make sure we get the right product and the right price points. We take a very robust approach to marketing projects so we can get to settlement as soon as possible." 
Designed by SJB Interiors, Botanic Melbourne is situated on Coventry Street some 150m from St Kilda Road and 300m from the Shrine of Remembrance.
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Perfect storm hit Evolve Development with Southbank apartment project

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GUEST OBSERVER
The Transforming Housing research network recently held a workshop on how the Victorian government can maximise the social benefits of its Public Housing Renewal Program. The workshop attracted more than 100 participants – local government, non-profit housing providers, public housing residents and researchers. Despite being invited, the state government was notable for its absence.
This apparent reluctance to engage with stakeholders adds to a serious concern over government secrecy about social housing projects involving private developers. There are many basic pieces of information interested members of the public might want to find out but cannot.
The number of private units versus new public units, and the size of the units, is just one example. Another example involves the government target of an increase of “at least 10%” in social housing units on former public housing land sold to developers. There has been no discussion of the rationale behind that figure.
<img src="https://images.theconversation.com/files/204132/original/file-20180131-38190-1byb13k.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt="">
The development potential of sites such as the old Northcote housing estate is clear, but the public has no way of knowing if the deals are good value. Victorian government
Similarly, what prices will be charged for land currently occupied by public housing? The government forecasts Melbourne’s population will grow to 8 million by mid-century. This means any underutilised land in the inner city will become much more valuable.
By selling off public housing land in well-located inner suburbs, the government is forfeiting the future benefits of that land, including the opportunity to add to desperately needed public housing stock in these areas. How is the public supposed to evaluate the trade-offs between costs and benefits if critical information like the repair cost versus the costs of demolition and sale is kept secret?
More social housing is badly needed
What we do know is that the need for social housing is acute. The percentage of Australian families living in government and non-profit-owned housing (collectively called “social” housing) has declined from over 7% in 1991 to a little over 4.2% in 2016. This is the lowest proportion in 35 years. Victoria would require almost 70,000 more social housing homes over the next 20 years to meet the needs of lower-income households now facing severe housing stress in the private rental market.
As public housing represents such a small proportion of total housing stock, only the most vulnerable households that are least able to pay rent are eligible to live in this housing. At the same time, federal government subsidy shortfalls have created a maintenance backlog for an ageing public housing stock.
Successive reports by the Victorian Auditor-General’s Office in 2010, 2012 and 2017 have identified the absence of a sound and sustainable mechanism for maintaining, let alone expanding, non-profit housing stock. A year ago, the independent state government advisory body Infrastructure Victoria recommended as one of three infrastructure priorities that the government repair existing stock and create new social housing.
Many questions about public housing renewal
In the context of low government funding and high repair bills, it is understandable that the Victorian government is seeking partners to renew estates. New South Wales is taking a similar approach with its Communities Plus program and it’s central to the US Choice Neighbourhoods program.
What is less understandable is why the state government is selling public housing land in nine central Melbourne estates to private developers in return for very low increases in social housing. The requirement of “at least” 10% of 1,110 units – the quantum being “renewed” – amounts to just 110 units.
That’s a drop in the ocean of need in exchange for selling off irreplaceable, well-located land. Moreover, there is a push towards demolishing four-bedroom homes and replacing them with one- and two-bedroom units. The result could be fewer beds for those in most need.
Our comparative research, covering Australia and overseas, shows that renewal with much higher social housing returns is possible in partnership with non-profit housing providers. 
<img src="https://images.theconversation.com/files/204138/original/file-20180131-38216-12hwmrj.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=237&amp;fit=clip" alt="" style="display: block; margin-left: auto; margin-right: auto;">
The secure private garden on the redeveloped Carlton estate. Kate Shaw
Evaluations of previous public housing renewal in Kensington, Carlton and Prahran estates also suggest the government undervalued the land and was not able to increase the amount of public housing as promised. The private developers created effectively “gated” private community features that did not benefit public housing residents.
Many submissions to a parliamentary inquiry by residents and neighbours of the nine affected estates express frustration and fear over the government’s secretive approach. One frustrated neighbour noted that he had to dig through the appendices of a traffic analysis to find out how many new market-rate units would be built near his home. As housing academics, we share residents’ frustrations at the unnecessary level of secrecy.
Concerns over the absence of a transparent cost-benefit approach to infrastructure planning are evident as well in the debates over the West Gate Tunnel and the recent re-emergence of the East-West Link in the appendix of a budget report. The current government spent A$1 billion to bury the latter project three years ago. The Victorian Auditor-General’s Office also expressed concerns about misreporting costs, benefits and risks under the previous state government.
Other countries show the way on transparency
In many American states, such as California, housing developers receiving government funds have their development cost details published before subsidies are awarded. Details include the cost of the land, numbers of subsidised and market units, and the costs of development. The evaluation of Choice Neighbourhoods is thorough and transparent.
Over the border in Canada, the funding and planning behind the large-scale Regent Park Public Housing renewal in Toronto is publicly available.
Developers and other providers interested in lucrative government contracts complain that transparency jeopardises their hard-earned trade secrets, and thus their businesses. We disagree. The transparency we see elsewhere isn’t stopping developers from doing business.
More importantly, should private firms that keep information about public benefit “commercial in confidence” be in the business of serving taxpayers at all? Shouldn’t those whose “business” is assured by the tax-levying powers of the state be able to be held publicly to account?
<img src="https://counter.theconversation.com/content/90847/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">Government officials assure us these deals go through complex layers of intergovernmental review to safeguard the public interest. We doubt that any amount of bureaucratic review can replace the accountability of simply revealing these deals to the public, and we suspect the public agrees with us.
Matthew Palm, Postdoctoral Research Fellow, Transforming Housing Research Network, University of Melbourne.
Carolyn Whitzman, Professor of Urban Planning, University of Melbourne.
Katrina Raynor, Postdoctoral Research Fellow, Transforming Housing Project, University of Melbourne.
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/governments-have-no-excuse-for-keeping-public-in-the-dark-on-public-housing-deals-90847" target="_blank">original article</a>.
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Governments have no excuse for keeping public in the dark on public housing deals

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A Bridgeman Downs trophy home has sold for $4.9 million through Place Estate.
Agent Sarah Hackett had 20 Priestley Road on the market for less than 30 days.
The home came with oversized living areas and the resort-inspired pool.
The sale is the second highest for the suburb as 58 Retreat street, Bridgeman Downs holds the suburb record, having sold through Place for $4,960,000 last year.
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Bridgeman Downs trophy home sold for $4.9 million

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A vacant Lake Cathie house has been sold by mortgagees for $550,000.
The Port Macquarie district offering was sold by Tony Dekker and Tony Bransdon from LJ Hooker.
It had been listed since late 2016 when it come with $600,000 hopes.
The three-bedroom house came with open plan kitchen and living area, and a private backyard sanctuary with possible rear access for a caravan or boat.
This<a href="https://www.realestate.com.au/sold/property-house-nsw-lake+cathie-126424490"> Kara Close house</a> is located within walking distance to the beach, Lake Cathie School, medical centre and bus stop, and a short drive away from Woolworths.
The neighbourhood's prior mortgagee sale was when a three bedroom, 1990s Ocean Woods Estate, Bonny Hills offering was sold at $500,000, having 
According to CoreLogic, the median price sits on $555,000.
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Lake Cathie house sold by mortgagee

<a href="https://www.apartments.com.au/developers/mrcb">MRCB International</a> has commenced construction on its latest Gold Coast apartment development, Maris, on the site of the former Sundale Motel in Southport.

The start of construction by <a href="https://www.apartments.com.au/builders/binah-constructions">Binah</a> follows an exceptionally strong sales campaign, with more than 90 per cent of apartments sold since launch. Every purchaser has been local, an&nbsp;indicator of confidence in both the development and Southport's evolution into a thriving CBD.

<a href="https://www.apartments.com.au/new-apartments/maris-southport-20-queen-street-southport-qld-4215">Maris</a> will deliver 192 residences across 20 levels. The project forms part of MRCB's Australian and New Zealand development pipeline now exceeding $1.6 billion in gross development value, alongside a growing portfolio of projects globally.

[smartcode_project:default project_id=134403 project_image_fid=350663]

The company also commenced construction on its $600 million 26 Vista residences in Surfers Paradise last year, following strong sales momentum, with over 70 per cent of residences sold.

Maris has been designed to meet evolving buyer demand, offering architecturally designed layouts suited to long-term liveability. The approach reflects a growing preference for quality and adaptability among Gold Coast buyers.

Positioned next to the Broadwater in the <a href="https://www.apartments.com.au/developments/southport-qld-4215">Southport</a> CBD, Maris sits directly opposite the Broadwater Parklands light rail station and within easy reach of retail, dining and lifestyle precincts, placing residents at the centre of one of the Gold Coast's most connected and rapidly maturing urban centres.

[smartcode_project:default project_id=134403 project_image_fid=372756]

Maris will offer a full suite of resort-style residential amenities, including a pool, gym and sauna, along with a rooftop level featuring decks, lounges and dining and yoga areas that command sweeping views across the Broadwater and out to the ocean.

Binah, a New South Wales headquartered company co-founded by Amen Zoabi and Khalil Hafza in 2008, has expressed its excitement at establishing its first partnership with MRCB.

Binah's Managing Director Khalil Hafza said partnering with MRCB on Maris is a significant moment for Binah.

"MRCB's financial strength and a track record that speaks for itself give this project a solid foundation, and this marks the beginning of what will be a long and successful relationship.

"With the right people, systems and partnerships behind it, Maris is set to become a significant addition to the Gold Coast's premium residential market."

[smartcode_project:default project_id=134403 project_image_fid=350664]

MRCB International CEO Ravi Krishnan said the project's progression to construction reflects both sustained demand and tightening conditions across the apartment sector, as well as MRCB's continued confidence in the Gold Coast market.

"Commencing construction at Maris is a significant step and reflects the depth of demand for quality apartments in well-connected urban locations," said Krishnan.

"Across Southeast Queensland, new apartment supply remains constrained, particularly in established precincts with infrastructure and amenity already in place. Projects like Maris are increasingly critical in meeting that demand, especially on the Gold Coast and in the city's CBD precinct."

[smartcode_project:default project_id=134403 project_image_fid=372761]

Krishnan said Southport's ongoing transformation, supported by infrastructure investment and long-term planning, was underpinning renewed buyer confidence.

"We're seeing a clear shift back towards well-located urban centres where infrastructure, connectivity and amenity are already established," said Mr Krishnan. "Southport is evolving into a more mature CBD environment, and that is being reflected in buyer behaviour."

Construction at Maris is anticipated to be completed in 2029.

[smartcode_project_cta:default project_id=134403]

Joel Robinson

Construction commences on MRCB’s $200m Maris Residences in Southport

Moonee Valley Park’s latest residential release <a href="https://www.apartments.com.au/new-apartments/the-eveline-at-moonee-valley-park-moonee-ponds-100-thomas-street-moonee-ponds-vic-3039">The Eveline</a>, has achieved a new benchmark for off-the-plan apartment sales in the suburb, with the sale of The Alexandra penthouse selling for $5,435,000.

Positioned on the top floor of a 16-level residential building, the three-bedroom, three and-a-half-bathroom penthouse features uninterrupted city skyline views across the future Valley racetrack.&nbsp;

The landmark sale comes as momentum at the precinct continues to build, with the Moonee Valley Racing Club progressing works on its new racetrack ahead of the 2027 Cox Plate. The transformative development will see MVRC reimagine the beloved Valley as a vibrant year-round entertainment and lifestyle destination.

Alongside a world-class racing experience, the historic precinct will be activated with events, hospitality and public green spaces designed to attract broader audiences, while breathing new life into one of Melbourne’s most iconic destinations.&nbsp;

[smartcode_project:default project_id=142519 project_image_fid=372786]

Development partners <a href="https://www.apartments.com.au/developers/hamton">Hamton Property Group</a> and Hostplus have delivered five residential stages over the past four years, the most recent in November 2025 with Trackside House and Stonepine House. The flourishing community is now home to almost 500 families.&nbsp;

The latest residential release, The Eveline, has recorded strong demand since launching publicly last July, securing more than $200 million in sales to date, satisfying its pre sales hurdle for construction to commence.&nbsp;

Hamton Founder and Executive Chairman, Paul Hameister OAM said, the sales&nbsp;team have been overwhelmed by demand for these unique homes in this unique project.

"Buyers continue to be predominantly hyperlocal and attracted by the 40 hectare botanic masterplan in Melbourne’s inner north west," Hameister said.

[smartcode_project:default project_id=142519 project_image_fid=372788]

Hamton’s Sales and Marketing Director Fergus Humphries said the team has achieved more than 70 sales over the past eight weeks, including the penthouse purchase by a local buyer.

"These results reinforce that, even in a challenging market, purchasers continue to be drawn to quality projects that offer more than just a home, they offer a lifestyle.”

Designed by Cera Stribley, the penthouse has been created with entertaining in mind, spanning close to 400 sqm of indoor and outdoor living space, including multiple terraces designed to capture sweeping views across Melbourne’s skyline, the new Valley racecourse and sunset views over Moonee Ponds.

Moonee Valley Park is one of Melbourne’s largest urban renewal projects, transforming the iconic racecourse site into a vibrant mixed-use neighbourhood integrating homes, parklands, retail, racing and community amenities.

[smartcode_project_cta:default project_id=142519]

Moonee Valley Park penthouse sets suburb record as sales surge clears construction benchmark

A company linked to one of Australia's largest privately owned cattle businesses has lodged plans for a new residential tower in <a href="https://www.apartments.com.au/developments/newstead-qld-4006">Newstead</a>, continuing the rapid transformation of one of Brisbane's most sought-after, inner-city precincts.

Bottletree Holdings, an entity associated with Stanbroke Managing Director Brendan Menegazzo, has submitted a development application for a 28-storey mixed-use tower at <a href="https://www.apartments.com.au/new-apartments/9-longland-street-newstead-qld-4006">9 Longland Street</a>, a site that made headlines last year when it changed hands in an off-market transaction that reportedly set a benchmark land rate for the suburb.

The proposal would replace an existing two-storey commercial building on the 1,510 sqm corner site with a Bureau Proberts-designed tower comprising 76 apartments, ground-floor retail, office space and a suite of resident wellness amenities.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="c710a836-568e-4382-bc91-3c34b8e80a8b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.41.45%E2%80%AFAM.png?VersionId=Vy.mQWBc7GA_a.vIBdxKqRC9XGjWalo2" />

According to planning documents lodged with Brisbane City Council, the development would comprise a mix of 36 two-bedroom apartments, 24 three-bedroom apartments and 16 four-bedroom residences, positioning the project firmly at the premium end of the market. The apartments would sit above a podium containing retail and commercial space, with three levels of communal recreation facilities spread throughout the tower. The proposal also includes 198 car spaces and 95 bicycle spaces.

Bureau Proberts has drawn heavily on Newstead's industrial heritage in developing the architectural response.

"Occupying a prominent corner in the heart of Newstead, the proposal draws from the area's industrial lineage of robust brick warehouses to deliver a distinctly contemporary response," the architects said in the design statement.

"It is conceived as a subtropical sanctuary and elevated private retreat embedded within one of Brisbane's most vibrant lifestyle precincts."

The design seeks to reinterpret the traditional Queensland vernacular through wraparound verandahs, deep shading elements and permeable facades that respond to Brisbane's subtropical climate.

<img alt="9 Longland" data-entity-type="file" data-entity-uuid="25524f59-395c-4825-8fad-9b639822fa8a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.09%E2%80%AFAM.png?VersionId=dlWlbpCc_g3Y6yTLGqRVKvGJvO2ubMJ3" />

Planning documents describe the building as embodying the principles of "buildings that breathe", a design approach increasingly favoured in Brisbane's apartment market as developers focus on natural ventilation and outdoor living spaces.

The tower itself would rise above a heavily landscaped podium designed to reference the woolstore architecture that helped define Newstead and neighbouring Teneriffe for generations. At ground level, fine-grain retail tenancies would activate Longland Street, Wyandra Street and the existing Wyatt Street laneway, further extending the pedestrian network that has become a hallmark of the Gasworks precinct.

The application notes that more than 54 per cent of the site would be dedicated to landscaping and deep planting, while approximately 1,750 sqm of communal recreation space would be delivered across multiple levels.

<img alt="Planning" data-entity-type="file" data-entity-uuid="fed3b189-1054-4b68-af5f-b0befc4a66e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.42.19%E2%80%AFAM.png?VersionId=gqeE3cjsbnLAfeTUKA1HtPZfqDs6S4Xa" />

Bottletree paid $22 million for the 1,510 sqm development site, equating to more than $14,500 per sqm, a reflection of the strong demand for development opportunities in Newstead. The suburb continues to attract both developers and buyers, underpinned by the ongoing evolution of the Gasworks and Teneriffe precincts into some of Brisbane's most sought-after lifestyle destinations.

Brisbane City Council's Sustainable Growth Strategy and Inner City Strategy both identify Newstead as a priority growth precinct capable of accommodating additional housing density due to its proximity to employment hubs, public transport and lifestyle infrastructure.

The proposed tower joins a growing pipeline of high-end apartment developments in the suburb. Fortis recently launched <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a>, a 65-apartment owner-occupier-focused development on Kyabra Street, while Consolidated Properties Group is preparing to launch <a href="https://www.apartments.com.au/new-apartments/castile-47-skyring-terrace-newstead-qld-4006">Castile</a>, a 227-apartment waterfront project on Skyring Terrace.

Meanwhile, builder-developer BPG is planning its own Newstead project on Maud Street, comprising just over 100 apartments and more than 1,380 sqm of dedicated wellness and resident amenity spaces, further highlighting the shift towards lifestyle-driven apartment developments in Brisbane's inner-city market.

Newstead apartment boom continues with Longland Street tower plans

ALAND has taken the next major step in delivering its vision for Leppington Town Centre, lodging State Significant Development plans for a $549 million residential precinct that would bring more than 1,200 new homes within walking distance of Leppington Station.

The proposal, now on public exhibition, forms the Residential Core Precinct of the broader Leppington Town Centre masterplan and would transform a 4.3-hectare site at <a href="https://www.apartments.com.au/new-apartments/156-166-rickard-road-leppington-nsw-2179">156-166 Rickard Road</a> into a high-density mixed-use neighbourhood comprising nine residential buildings rising between six and 25 storeys.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="fc20982d-a0a9-4989-8fb3-680ca9fdcd10" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.44%E2%80%AFAM.png?VersionId=l5EEyS6Dkf_SLDQkwDeyAU2nXkSZP2RW" />

The development has been designed by Rothelowman and is being pursued through a State Significant Development Application alongside a concurrent rezoning request under the NSW Government's Housing Delivery Authority pathway.

If approved, the project would deliver 1,206 dwellings, including 784 build-to-sell apartments, 208 build-to-rent apartments, 189 affordable housing units and a nine-storey serviced apartment building containing 112 rooms. The proposal also includes around 7,400 sqm of non-residential floor space, new public open space, communal recreation areas and a new internal street network.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="c4f80d3b-cb05-4068-8a87-808317807a99" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.36%E2%80%AFAM.png?VersionId=KfPqh1JBuxc53IWntEzGHAeBaCLmRmum" />

<h2 data-end="1990" data-section-id="s6350" data-start="1941">A key piece of Leppington's future town centre</h2>

The site sits around 250 metres from Leppington Station, which opened in 2015 as the terminus of the South West Rail Link and has long been earmarked as the catalyst for the suburb's transformation from a rural fringe location into a major strategic centre for Western Sydney.

Leppington has become increasingly important following the announcement of the Western Sydney International Airport and the emergence of Bradfield City Centre, with government planning identifying the precinct as a significant location for future housing and employment growth.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="8ca0f098-affc-48c0-80d3-468ea090a20c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.26%E2%80%AFAM.png?VersionId=o3mwgBFT6H9YUllI0JR.JfLsUYQy1CTa" />

According to Rothelowman, the proposal responds directly to Leppington's unique position between its agricultural past and its urban future.

"The site offers an opportunity to weave together multiple layers of history, from its ancient connections to Country along the ridgeline between two waterways and its origins as part of the Cumberland woodland, to its more recent agricultural uses, and its future as a new residential community," the architects said in the design report.

The architects said the project aims to establish a high-density residential typology that combines apartment living with extensive landscaping and public open space.

"The design responds by establishing a high-density typology that combines the convenience and amenity of contemporary apartment living with a renewed native landscape."

<h2 data-end="3541" data-section-id="1ko88s2" data-start="3485">Nine buildings arranged around parks and public space</h2>

The proposal has been designed around a landscape-led framework rather than a traditional podium-and-tower approach.

Across the site, approximately 7,500 sqm of public open space would be delivered through a network of north-south and east-west linear parks, connecting into the wider Leppington Town Centre open space network. A further 8,000 sqm of communal open space would be provided for residents.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="f5113abf-5440-4610-9cdc-60a0d41a407e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.12.55%E2%80%AFAM.png?VersionId=k8zLMj4yZS4hStmGzZJfosjj5iArwIek" />

Rothelowman said the design seeks to maximise landscaping at ground level by concentrating development into compact tower footprints.

"Buildings are carefully lifted and distributed to minimise disturbance to the natural terrain, allowing the ground plane to remain open, permeable, and led by landscape," the design report states.

Rather than creating a continuous podium edge, the design team has focused on allowing landscaping to extend beneath and around the buildings.

"The ground plane is conceived as an extension of the surrounding environment, allowing landscape to flow up to and beneath the built forms."

The architectural language also draws on the area's natural landscape, with Rothelowman describing a material palette influenced by local gum trees, bark textures, creek systems and sandstone tones.

<h2 data-end="4971" data-section-id="s69utu" data-start="4922">Affordable housing and build-to-rent component</h2>

One of the more significant aspects of the proposal is the diversity of housing typologies.

In addition to traditional apartments for sale, the scheme includes a dedicated 25-storey build-to-rent building with 208 apartments and a 22-storey affordable housing building containing 189 homes.

The affordable housing component represents almost 16 per cent of the total dwellings proposed within the Residential Core Precinct.

<img alt="ALAND" data-entity-type="file" data-entity-uuid="f87e6808-e462-44c6-bfa8-a3de1816f2e3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-22%20at%209.33.36%E2%80%AFAM.png?VersionId=WTsRKiUAyWw18S5S98yQB5oVuDcnJTxB" />

Community consultation undertaken ahead of the lodgement found support for additional housing in the area, particularly given ongoing affordability challenges across South West Sydney. Survey work conducted with local residents found housing affordability was one of the poorest-rated aspects of living in Leppington, while a majority of respondents were open to additional housing within the local government area.

The site's proximity to Leppington Station was identified as the most positively viewed aspect of the proposal, while public open space and affordable housing provisions also received majority support.

<h2 data-end="6184" data-section-id="1ngkie4" data-start="6140">Part of Leppington's broader expansion</h2>

ALAND will be a significant contributor to the broader vision for Leppington Town Centre, which is expected to accommodate more than 25,000 residents as the precinct evolves over the coming decades.

Located within Sydney's South West Growth Area, the 440-hectare Leppington Town Centre has been identified by the NSW Government as a strategic centre spanning both the Liverpool and Camden local government areas.

In 2023, Liverpool City Council and Camden Council, supported by the NSW Department of Planning and Environment, prepared a draft planning proposal to rezone land and amend development controls across a number of sites within the town centre.

The proposal outlines a new vision for Leppington Town Centre, reducing the amount of land allocated for business park uses while increasing land zoned for commercial development, housing and open space. The changes are designed to optimise land use across the precinct and support the delivery of a more walkable, transit-oriented centre anchored by Leppington Station.

&nbsp;

ALAND plots 1,200-home Leppington masterplan

Brisbane-based developer <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a>&nbsp;has enlisted renowned architecture firm Koichi Takada Architects to design its latest new apartment development.

The new 34-storey tower at <a href="https://www.apartments.com.au/new-apartments/57-berwick-street-fortitude-valley-qld-4006">57 Berwick Street, Fortitude Valley</a>,&nbsp;will have 189 apartments, complete with interiors by <a href="https://www.apartments.com.au/architects/byculprit">byCULPRIT</a>. The upper levels&nbsp;capturing views across the Story Bridge, city skyline, ranges, bay and river.

Residents will have access to a rooftop amenity floor with facilities including a pool, spa, sauna, hot and cold treatment, meditation garden, gym, yoga studio, private dining, BBQ, games lounge, wine display wall, work library, meeting rooms and outdoor work areas.

<a href="https://www.apartments.com.au/developers/trk-property-group">TRK</a> Founder and Managing Director, Arpan Kohli, said it will be a project "Brisbane hasn't seen before."

&nbsp;

"To deliver a project of this calibre, you need the right people involved," Kohli said.

"Koichi Takada Architects and byCULPRIT set the benchmarks for design excellence, and this project reflects that - a building of genuine architectural significance in one of Brisbane's most coveted locations, sitting between Howard Smith Wharves and the James Street precinct."

TRK recently launched <a href="https://www.apartments.com.au/new-townhouses/laya-residences-taigum-203-beams-road-taigum-qld-4018">LAYA Residences in Taigum</a>, 88 three-bedroom townhouses starting from $1,495,000. They have another apartment site in Indooroopilly, at <a href="https://www.apartments.com.au/new-apartments/140-central-avenue-indooroopilly-qld-4068">140 Central Avenue</a>. That will have 131 apartments.&nbsp;

&nbsp;

Staff reporter

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