Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

<img alt="iCIRT" data-entity-type="file" data-entity-uuid="dcbb59af-3d5a-43aa-b28e-a66e55a83568" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Announcement.png?VersionId=6OD8r.v.oucEF01BWxR85urzoD9seQ9e" />

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

<img alt="mirvac" data-entity-type="file" data-entity-uuid="1c11c691-e8cd-46c3-88fd-6c8d614e8357" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mirvac.png?VersionId=ZqDqNL36WJOOCmNMmmO93Q2GTrFOBomz" />Mirvac is a 5 Gold Star iCIRT rated developer, the highest possible rating a developer can get: Harbourside by Mirvac

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

<img alt="iCIRT" data-entity-type="file" data-entity-uuid="958e1497-8151-4689-aadc-baf59f6e6122" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/iCIRT-Infographic-Assessment-Process-Final.png?VersionId=7KyVcwSo4vCLXBYBdq382e3Si.R.9PWQ" />

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

<html><body>Australian Property Monitors (APM) has released a list of results from 529 auctions in Sydney for the weekend of March 23. The clearance rate was 70.5%. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank">Click here</a> for the auction results, and click on each street address to see the property's marketing.</body></html>

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APM's Sydney's 529 auction results show a 70.5% clearance rate

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Moyvane, a $5.1 million <a target="_blank" href="/news">Kew</a> property was the weekend's top sale.
Melbourne's second most expensive weekend property sold was a five-bedroom <a target="_blank" href="/news">Elsternwick</a> house, Lurgancanty, which sold for $5 million.
Moyvane, a grand five-bedroom 1895 Victorian Era residence sits on a 2,648-square-metre holding directly opposite Yarra Bend Park.
It was offered for <a target="_blank" href="https://30walmerst.com/homepage">the first time in more than eight decades</a> through Jellis Craig agent Geordie Dixon.
There was a $4 million opening bid with three competing for the Walmer Street offering which was announced on the market at $4.8 million.
Lurgancanty is set on 2,200 square metres, with a pool and separate staff quarters at 59 Allison Road.
<a target="_blank" href="https://www.propertyobserver.com.au/https://www.bigginscott.com.au/property/details/9576">It sold through Bill Stavrakis at the Biggin Scott agency.</a>
Brighton had 28 scheduled auction with 24 results provided to the REIV with $2.05 million the highest recorded sale. <a href="/news">There were five higher passed in results</a>.
Melbourne's Bayside saw a lower clearance rate of 55% this weekend, a bit of a disappointment contrasting with the strong results in areas like Boroondara and Stonnington, according to James Buyer Advocates.
"<a href="https://marketnews.com.au/tag/brighton/" rel="tag" title="Posts tagged with Brighton">Brighton</a> in particular saw a number of pass-ins with no bidders at all," their weekend auction report said.
These included 1a Wellington Street, which passed in at $2,800,000, 37 Drake Street at $3,375,000, and 27 Normamby Street at $2,250,000.
"Even so, Bayside has seen a sale over $3 million almost every week so far this year.
"And more new ‘<a href="https://marketnews.com.au/tag/top-end/" rel="tag" title="Posts tagged with Top End">top end</a>’ stock is becoming available.
It includes Blair Athol (pictured below), at 5 Leslie Grove, Brighton, which is back <a target="_blank" href="https://www.domain.com.au/Property/For-Sale/House/VIC/Brighton/?adid=2007444290">on the market after </a> selling for $8 million on late 2009 to the Horne family.
{yoogallery src=[images/stories/2013/03/march25blairathol]}
Note: the above pictures are from a previous marketing campaign by Kay &amp; Burton.
Its been listed with Nick Johnstone Real Estate, with a tender process commencing after Easter.
Set on 3,372 square metres, with pool and tennis court, its a property steeped in history with gardens originally designed by Edna Walling.
Its previous owners include Craig Kimberley of Just Jeans fame who sold it to the Tabcorp and Southcorp chief executive officer Ross Wilson in 1994 for $2.95 million, soon after relocating to Melbourne from Adelaide.
<div>
<a title="With $865 million in sales, Super Saturday residential auction success as results hold steady in Sydney and Melbourne" href="https://www.propertyobserver.com.au/news/super-saturday-residential-auction-success-as-results-hold-steady-in-sydney-and-melbourne/2013032360041?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">With $865 million in sales, Super Saturday residential auction success as results hold steady in Sydney and Melbourne</a>.</div>
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<div>Estate agents can now march into April with further confidence vendors and buyers are on the same price page.</div>
</body></html>

jchancellor-FAypfDUnLy

Kew edges Elsternwick with weekend top sale with Brighton bypassed

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The most expensive apartment sold in Sydney listed at the weekend was a three-bedroom apartment at The Residence in Darlinghurst, overlooking Hyde Park.
The unit 72/14-24 College Street was sold to a Chinese property developer for $4.55 million through CBRE agent Ben Stewart.
The 232 square metre 17th floor three-bedroom, three-bathroom apartment was developer stock.
“It was a good price. There has definitely been a significant improvement in the market this year,” he told The Australian Financial Review.
<div>
<a href="https://www.propertyobserver.com.au/news/super-saturday-residential-auction-success-as-results-hold-steady-in-sydney-and-melbourne/2013032360041?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" title="With $865 million in sales, Super Saturday residential auction success as results hold steady in Sydney and Melbourne" target="_blank">With $865 million in sales, Super Saturday residential auction success as results hold steady in Sydney and Melbourne</a>.</div>
<div></div>
<div></div>
<div></div>
<div></div>
<div></div>
<div></div>
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<div>Estate agents can now march into April with further confidence that vendors and buyers are on the same price page.</div>
The strongest region was the upper north shore at 83%, where results for 35 auction were reported to APM.
The inner west was also strong at 76%, with the east at 73%.
</body></html>

Chinese developer buys $4.55 million The Residence, Sydney in top weekend unit sale

<html><body>
“As if…”
As someone previously employed in the mining sector, I’ve spent far too much of the past 13 years writing annual reports and ASX stock market releases for listed companies, and if there’s one thing you learn very quickly as a Group FC it’s that you're often the only person who understands the company financials (and often you're one of very few people who appears to even care).
This is one of the many reasons people invest in stocks so badly, for if you don’t fully understand the detailed financials, how on earth can you know what a company is worth?
Opaquely, some companies report “normalised earnings” almost every year, which sceptics now refer to as “as if earnings” as in: “Here are our earnings as if we didn’t have our loss-making operations…”
From writing stock exchange releases I also know only too well that if you manipulate statistics (especially from small sample sizes) hard enough and often enough, you can prove just about anything by "torturing the figures until they confess".
Nowhere are statistics manipulated harder or tortured more often than in residential real estate. Always challenge what you are told, and remember this key rule of investment…
“If something looks too good to be true, it probably is”
A fine case in point was the February Labour Force data released last week which showed that the Australian economy seemingly added an unbelievable 71,500 jobs in a month.
That statistic is definitely too good to be true, but it nevertheless raised the ire of Hotspotting’s Terry Ryder:
“They [economists] told us the jobless rate would rise, with only 10,000 new jobs created. The outcome was 70,000 new jobs created and the jobless rate steady at 5.4%. Do we get our money back? Or an apology at least?”
<a target="_blank" href="https://petewargent.blogspot.com/2013/03/stunning-employment-figures-confound">If you understand how</a> the samples are collated, rotated and extrapolated, you would know that forecasting jobs growth accurately month-on-month is impossible.
The February numbers were too good to be true and next month’s figures will be correspondingly weaker.
Real estate myths
It’s been a busy week for Ryder with him again taking aim at investors in capital city properties:
“The fossils of real estate are creatures known as Mythosaurus. They’re the relics who cling to ancient folklore such as “the inner-city suburbs provide the best growth” and “Sydney’s good suburbs are the strongest in the nation”. The factor that all myths have in common is that they are unsupported by research evidence. But Mythosaurus does not concern him or herself with inconveniences like statistics.”
Instead, Ryder <a target="_blank" href="https://www.propertyobserver.com.au/queensland/infrastructure-creates-jobs-and-capital-growth-terry-ryder/2013031859926">tips Bowen in Queensland</a> in spite of its 17-18% vacancy rate, puts <a target="_blank" href="https://www.propertyobserver.com.au/hotspots/change-is-the-only-constant-in-real-estate-terry-ryder/2013032059952?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=upperright">Cairns</a> back on the watchlist after its <a target="_blank" href="https://realestatetalk.com.au/kevin-turner-interviews-margaret-lomas-about-the-worst-advice-shed-ever-been-given/">desperately miserable run</a> and went on to highlight that: “Port Augusta has a median house price of $175,000, despite <a target="_blank" href="https://www.propertyobserver.com.au/south-australia/south-australia-is-becoming-a-globally-significant-resources-state-terry-ryder/2013031359827">annual growth averaging 12% over the past 10 years.</a>“
Naturally enough Ryder has picked out a town with outstanding growth, but...whoa! "Growth" of 12% per annum and houses still only cost $175,000? 12%!
Mr Mythosaurus may not like to concern himself with the inconvenience of statistics, but he may wish to look a little more closely at that.
Why don’t we all invest in small towns like Port Augusta? Firstly, because of gearing into an illiquid asset in these times of elevated household leverage as property owners across Europe and the US have discovered to their cost.
And secondly, because quoting median suburb “growth” figures over a carefully selected timeframe is a commonly employed spruik, for as experienced investors well know "growth" can be distorted by a range of factors.
How to calculate ACTUAL capital growth
Go back a reasonable period of time of, say, 20 years to 1993, a time horizon which incorporates the greatest boom in the history of Australian household debt and property values, and <a target="_blank" href="https://www.onthehouse.com.au/">see what houses in Port Augusta were selling for</a> in that year, which was typically between $40,000 and $80,000 (with an outlying few selling for significantly more).
With your dusted-off compound interest tables to hand you'll discover that the implied growth over 20 years for most houses appears to track remarkably consistently at around 6% per annum or sometimes a little below. Interestingly the cheapest properties in their growth infancy tended to fare the best, perhaps partly due to the ability of owners to add value through improvements - the premium properties which sold for as much as $150,000 or more two decades ago by and large have shown diabolical growth. 
Sure there are some outliers and some properties displayed woeful growth at times, but one assumes that as an investor you would have avoided these. 6% p.a. is materially lower capital growth than an experienced investor in the closest major city market of Melbourne would have expected to achieve over a corresponding time period, and it is also lower than the returns you would have expected from an equivalently resources-focused city such as Perth.
Now you might say that 6% is solid enough capital growth, and you’d be absolutely right.Remember though, that in the preceding days of higher inflation interest rates tumbled from an eye-watering 17.50% in 1990 to just 4.75% in 1993 and the result of this structural shift was the greatest leveraging up by households in Australia’s history.
<img alt="wargentmarch25one" height="383" width="470" src="/images/stories/2013/03/wargentmarch25one.gif">
The RBA <a target="_blank" href="https://www.rba.gov.au/speeches/2013/sp-ag-140313">warned Australians last week that this borrowing bonanza plateaued in 2006</a> and its like will not be seen again. In fact, if you have owned a property in Port Augusta since 2008, you would be aware that many houses have declined in price since that time, doubtless not helped by BHP's shelving of its proposed Olympic Dam expansion.
<img alt="wargentmarch25two" height="416" width="470" src="/images/stories/2013/03/wargentmarch25two.gif">
 
 
 
<hr class="system-pagebreak">
 
Actual capital growth in capital cities In recent years, prices in some capital cities have increased (Melbourne, Sydney, Canberra) but have been weak in cities such as Adelaide and Brisbane. Of course, median price growth in capital cities gets distorted too, with the average capital growth dragged down by the dross and the remote under-performers, but investors in quality properties reasonably close to the centres of the cities aim for far higher actual capital growth over the long term than is generally attained in the regions.
<img alt="wargentmarch25three" height="382" width="470" src="/images/stories/2013/03/wargentmarch25three.gif">
Can Mr Mythosaurus give you an example of actual capital growth in the closest major metropolis to Port Augusta? Well, here's just one example of many: we've just seen a villa unit in <a href="/news">Camberwell</a> (9km to the east of Melbourne's CBD) sell for $585,000 - it last changed hands in the same condition in July 2000 for $186,000 - a comfortably compounding growth of ~9.25% per annum over nearly 13 years since it was last sold. No data distortion there, purely a huge demand in that suburb for a quality medium-density property.
How does median price growth become so distorted?
Through 2011 and 2012 I went on the road for 15 months and travelled to virtually every significant town and city in Australia. If you stroll around Port Augusta what you find is a significant number of newer houses on titles which last changed hands between 1997 and 2003 for somewhere between $8,000 and $30,000. You don’t need me to tell you that a house bought for well under $10,000 in 2003 (which is now worth more than $220,000) wouldn't have resembled Kirribilli House when acquired, and it has not simply magically appreciated to more than 22 times its previous value.
It's exactly the same principle as empty plots of land selling in Port Augusta for just $6,000 in 2004 the titles of which are valued today at more than $220,000...that's "growth" of more than 92% per annum because they have now been built on.
Such gross distortions in suburb median prices commonly represent developers paying land value (or land value less demolition value) for an old house in order to improve the site with a new property. The result is an abnormally depressed median price in the years the old houses are bought followed by an outrageous spike in the following years when newer or greatly improved houses hit the market.
<img alt="wargentmarch25four" height="364" width="470" src="/images/stories/2013/03/wargentmarch25four.jpg">
<a imageanchor="1" href="https://2.bp.blogspot.com/-5dCfy3woc00/UUluihURngI/AAAAAAAAI2g/NA9kXCLzEJw/s1600/APM+Port+Augusta.jpg"></a>
Source: APM
Suburb life cycles
This is all fairly typical of the life cycle of a small town or a fringe suburb where land values are extremely low and a building boost can massively distort median prices in the short term.
Extremely cheap properties in the infancy of growth can certainly experience a “catch-up phase”, and if population and employment growth ignite the initial flame then the median price can produce a fairly consistent growth trend in existing homes as wages increase.
However, a boost in new builds can also subsequently disguise a significant lull in median prices. As land is released to facilitate new accommodation existing homes may plateau in price and stagnate or decline as those moving in are attracted to the newer builds.
Thus consistently outperforming growth in actual house prices can only be expected if land is not released or zoning approvals are not granted to accommodate the increasing population.
Future median price growth will be lower
Although it is mentioned inappropriately rarely (or never) by promoters of real estate, leveraging up into an illiquid asset if you don’t know what you are doing is risky.
All of this is not to say that you can’t do OK by investing in a small town if you pick the right one and buy a good property, but merely to highlight two things.
Firstly, quoted suburb median price growth can be misleading and it is certainly no guarantee of future returns.
And secondly, given that the Reserve has a targeted CPI range of just 2-3%, absent an unlikely return to the days of rampant inflation median future capital growth in property must be lower than that experienced in the past.
Property prices in Australia are high and if you use debt to speculate in the wrong asset type you could experience severe financial loss.
Pete Wargent holds a range of finance and property qualifications and is the author of <a rel="nofollow" href="https://petewargent.blogspot.com.au/" target="_blank">Get a Financial Grip – a simple plan for financial fr</a><a rel="nofollow" href="https://petewargent.blogspot.com.au/" target="_blank">eedom.</a>
 
 
 
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If something looks too good to be true, challenge it: Pete Wargent

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Weekend auction clearance rates held steady in Sydney and Melbourne despite its super Saturday status with $865 million in residential sales.
<a href="/news">Sydney</a> recorded yet another high clearance rate with a 70.5% success rate, based on the initial Saturday results.
"The Sydney Super Saturday produced a strong 70.5% clearance rate despite high listing numbers," Dr Andrew Wilson, from Australian Property Monitors said.
Australian Property Monitors (APM) reported $300 million in sales from 485 auction results.
They had expected around 682 auctions to be held, so some 200 further results need to be added before any final tally.
It was the sixth consecutive week with the Saturday night provisional tally standing at around 70% or higher.
However on most of those week's, the additionally collected results from late filing agents, took the final figure below, so that in the last weekend results, for March 16, was actually 68.7% rather than the initially reported remarkably good 75%.
The expensive apartment sold in Sydney over the weekend was a three-bedroom apartment at <a target="_blank" href="https://www.propertyobserver.com.au/auctions/chinese-developer-buys-%24455-million-the-residence-sydney-in-top-weekend-unit-sale/2013032460044?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news">The Residence in Darlinghurst</a>, overlooking Hyde Park, which sold for $4.55 million.
<a href="/news">Melbourne</a>'s clearance rate was 68% this weekend compared to 68% last weekend. There were $565 million in sales.
"Today's result demonstrates the underlying strength of the market currently as the outcome is consistent with this year's trend and the volume of auctions is higher than seen since mid December 2010," Enzo Raimondo, the REIV chief executive said.
There were 1047 auctions reported to the REIV today, with 712 selling and 335 being passed in, 215 of those on a vendor bid.
<a href="https://www.propertyobserver.com.au/auctions/kew-edges-elsternwick-with-weekend-top-sale-with-brighton-by-passed/2013032460046?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" target="_blank">Moyvane</a>, a $5.1 million <a style="font-size: 14.545454025268555px;" target="_blank" href="/news">Kew</a> property was the weekend's top sale.
The REIV are expecting 1160 results to be the full tally.
 
 
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With $865 million in sales, Super Saturday residential auction success as results hold steady in Sydney and Melbourne

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Hengyi Australia, the mainland Chinese developer which is developing The William, has signed a significant deal with The Wyndham Hotel Group, the world's largest hotel chain.
<div>The Wyndham Hotel Group has bought 87 apartments at The William, which it will manage as serviced apartments.</div>
<div>
The William, which is situated at 199 William Street opposite the Supreme Court, is a 23-level, architecturally designed, 7-star rated building.
Offering a range of one, two and three-bedroom apartments, <a href="https://www.199william.com.au/" target="_blank">The William</a> will also offer serviced apartment accommodation on four of its 23 levels.
The Wyndham Hotel Group is the world’s largest hotel enterprise with 609,600 rooms in 66 countries and owns 15 hotel brands.
<a href="https://www.propertyobserver.com.au/companies/hengyi-australia" target="_blank">Hengyi</a> director Jeff Wang said The William was inspired by glamorous, hotel-style city living. Its future residents will enjoy a 24-hour concierge service as well as luxury amenities such as a rooftop swimming pool and barbecue area, gymnasium, library and theatre.
“Being a residential development among commercial and office space, The William will change the culture and the landscape,” Min Wang, chairwoman of Hengyi said of the project.
“We are certain that the inclusion of Wyndham hotels will be a dynamic new demographic to the northwest of <a href="https://www.propertyobserver.com.au/https://www.propertyobserver.com.au/victoria/tallest-building-in-southern-hemisphere-approved-for-melbourne/2013031759915" target="_blank">Melbourne’s CBD</a>.”
The William development is well under way by Built Construction, and is expected to be completed by August 2014.
</div>
The William apartments are set within the conversion of the former Telstra building, which became vacant in 1994 and was infamously known as a “ghost building”.
Min Wang saw the potential it offered and scooped it up for $45 million in early 2011.
Wang chose property as her first venture into the Australian market.
“It was a risk, but it has paid off,” says Wang, who has sold more than 75% of the 480 apartments spread over its two towers.
“By redeveloping this iconic Melbourne building into a contemporary classic for inner-city residents, we are taking a very sustainable and cost-effective approach,” says Hengyi’s Danielle Ashworth.
“Being a residential development among commercial and office space, The William will change the culture, it will change the landscape,” says Wang.
One-bedroom apartments range in size from 45 square metres to 55 square metres and range from $359,000 to $470,000.
<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/stories/2013/02/william1.jpg" alt="william1" width="470" height="265">
Two-bedroom apartments range from 58 square metres to 75 square metres and cost between $405,000 and $620,000.
Three-bedroom apartments range up to 80 square metres and start from $750,000.
The project was launched exclusively to Singapore investors several months ago.
<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/stories/2013/02/william2.jpg" alt="william2" width="470" height="265">
The developers also offer offshore buyers a rental guarantee, and the developer will pay for any legal costs.
 
<hr class="system-pagebreak">
As some Australian developers struggle to secure finance to commence projects and are often reliant on locking in adequate pre-sales before banks will lend any money to them, Asian developers are increasingly looking to the Australian market.
“The Australian property market is more mature than China’s, its laws are clearer, and business dealings are simple and direct,” says Wang.
“I have travelled a lot and seen a lot of other cities, but there was something more relaxed about Melbourne, and I felt so easily connected to it.”
It is no surprise that Wang chose Melbourne, after it was touted the world’s most livable city.
<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/stories/2013/02/william3.jpg" alt="william3" width="470" height="265">
The developers of The William list three reasons why they chose to invest in Melbourne.
Firstly, Melbourne is the fastest-growing city in Australia. This population growth, especially in the CBD, is driven by the growth in overseas migration and international students.
The population of the Melbourne CBD has grown over the past five years at a rate of 13.9% per annum.
This population growth will mean a significant and growing shortage in dwellings, and with a vacancy rate of 2.4%, rents are growing faster than inflation, which is good news for investors.
Golden Hills property group acts as the middleman for offshore investors and local investors for The William.
A spokesperson from Golden Hills told Property Observer that Asian buyers look to Melbourne for investment properties as it has a strong offering of universities.
Many Asian buyers have the mindset that it is worthwhile to invest in a property where their children can live while they attend Australian university for the duration of their degrees. The investment property also acts as a home away from home for the investor.
Golden Hills says that inner-city localities throughout Asia are viewed as better assets than middle-ring or outer suburbs, and therefore the same logic applies in Melbourne.
Some local market watchers have described the amount of Asian investment in Australian CBDs as a “frenzy”.
Associate professor in environment and planning at RMIT Michael Buxton told The Age recently that foreign developers were participating in a frenzy that threatened the viability of Melbourne’s apartment market.
He suggested a one-bedroom apartment of just 55 square metres would be common in overseas cities like Hong Kong, but new for Melbourne.
This view was rejected by Victorian Planning Minister Matthew Guy, who said Buxton was targeting these developers based on their ethnicity.
The old Telstra building was constructed in 1966 for the Postmaster-General’s Department, and in 1975 Telecom Australia – later Telstra – became the owner.
Telstra remained the main tenant until moving out in 1994 to an office complex on Exhibition and Lonsdale streets.
The empty shell was bought by Singaporean billionaire Tay Tee Peng for $12 million, who then spent a further $10 million to refurbish it but struggled to attract successful tenants.
The William is designed by Bruce Henderson Architects, with interior designs by Carr Design Group.
For more on the allure of Australian property to Asian buyers, <a href="https://www.propertyobserver.com.au/ebooks/free-ebook-australias-allure-for-asian-residential-property-investment" target="_blank">download our free eBook. </a>The eBook is also available for<a href="https://www.propertyobserver.com.au/ebooks/australias-allure-for-asian-residential-property-investment-free-ebook" target="_blank"> free download in Chinese.</a>
For great tips on buying off the plan, download Property Observer’s free ebook – <a href="https://propertyobserver.us2.list-manage.com/track/click?u=24bd0766a834290948593f5aa&amp;id=14e9848476&amp;e=7a53fc6dd9" target="_blank" rel="nofollow">14 tips for buying off the plan: The 2013 guide for investors and owner-occupiers.</a>
 
 
 
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Wyndham welcoming at The William in Hengyi Australia's first venture

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The auction of 1/21 Hampden Rd Armadale got off to a slow start and the property looked like it would be passed in at $950,000. But the rain failed to dampen the competition as four bidders finally declared their hand and the property sold for $1.21 million.
In Sydney there were no doubt a few Boags beers drunk last Saturday night as the family of the famous brewer sold the family home well in excess of the reserve. Prior to the auction the property was expected to sell for around $1.25 million but multiple bidders pushed the price to $1.415 million.
This week the downsizing baby boomers will be out in force when the perfect retirement property goes to auction. <a target="_blank" href="https://www.realestate.com.au/property-house-vic-hawthorn-113159479">1/15 Lisson Grove, Hawthorn</a> has the all-important master bedroom with ensuite on the ground floor and comprises a further two bedrooms and double lock-up garage.
The property (pictured below) is expected to sell in excess of $900,000 but don’t be surprised if it well and truly goes over $1 million.
<img alt="tippingmarch22one" height="349" width="470" src="/images/stories/2013/03/tippingmarch22one.jpg">
In Sydney, <a target="_blank" href="https://www.realestate.com.au/property-house-nsw-newtown-113170791">87 Campbell Street, Newtown</a> (pictured below) is a tricky one to put a price on. It is a unique property with very few comparable sales to help determine the value. The warehouse conversion has been designed to accommodate a separate business and residence.
Agent Michael Glynn from McGrath Real Estate is looking for buyers with more than $1.7 million to spend.
<img alt="tippingmarch22two" height="311" width="470" src="/images/stories/2013/03/tippingmarch22two.jpg">
There's now a website, <a style="font-size: 14px;" rel="nofollow" target="_blank" href="https://mail.privatemedia.com.au/owa/redir.aspx?C=KgoIydkbbkqcxEmtHCpjYzenKRip4s8ILx-ixDagf2W2XMdG8J7GWA4FzDXhsR5a7S8fbUw_Jbw.&amp;URL=http%3a%2f%2fwww.propertytycoon.com.au%2f">www.propertytycoon.com.au</a>, where punters can guess five auction results in Melbourne and Sydney, with no outlay. It's mostly about testing your market knowledge with a small cash prize as a sweetener. This season <a style="font-size: 14px;" href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" target="_blank" rel="nofollow">Property Observer readers have their own competition, which you can access here</a><a href="https://www.propertytycoon.com.au/join-league/S7S123C487R8OOQF" rel="nofollow">.</a> The winner of the overall competition will win $1,000.
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Unique Newton warehouse could crack $1.7m in Property Tycoon auction tipping

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The big four banks – Commonwealth Bank, Westpac, NAB and ANZ – have more room to move on mortgage rates then their regional banking rivals, a new paper published by the RBA suggests.
The paper prepared as part of the RBA’s March quarter bulletin highlights a tougher funding environment for regional banks compared with the major banks – though overall funding costs have eased across the sector as interest rates have fallen.
“For the regional banks, the evidence suggests that the overall increase in funding costs since the onset of the global financial crisis has been larger than the increase in funding costs experienced by the major banks,” write Benn Robertson and Anthony Rush in their paper Developments in Banks’ Funding Costs and Lending Rates.
Both work in the RBA's Domestic Markets Department.
“A large portion of this increase has been driven by the substantial shift in the composition of regional banks’ funding liabilities away from securitisation and towards relatively more expensive deposit funding, as well as an increase in the cost of their deposits and wholesale debt funding," they write.
Robertson and Rush also report that new mortgage customers were been able to get greater discounts last year compared with existing borrowers.
“During 2012, the average interest rate on outstanding variable-rate housing loans rose by about 40 basis points relative to the cash rate. This increase is consistent with the overall increase in banks’ funding costs
“By contrast, the average interest rate on new variable-rate housing loans increased by around 35 basis points relative to the cash rate, reflecting a small increase in the average size of discounts offered by banks to new customers, as competition for mortgage lending remained strong throughout the year.”
The paper reports that the absolute cost of issuing both secured and unsecured long-term wholesale debt has fallen over the past year, largely reflecting the decline in benchmark rates.
“In early 2013, spreads on the major banks’ unsecured bonds fell to their lowest level since late 2009.
The paper also reveals that all banks in Australia have increased their reliance on deposits.
However, the regional banks still require around 10% of their funding from securitisation – though down from the more than 25% allocation pre-GFC.
“The increase in the share of funding sourced from deposits over recent years has occurred across all types of banks in Australia.
“This trend has been most pronounced for the regional and other smaller Australian-owned banks, with their share of funding sourced from deposit liabilities doubling since 2007.
“Prior to the global financial crisis, these institutions used securitisation more heavily as a form of funding.
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Better funding environment for major banks than regionals: RBA

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Last year may be a distant memory to some, but when I recently reviewed various newspaper headlines from 2012 it revealed that we were a sombre lot back then.
Our property market was in the doldrums, the sharemarket hadn’t really started moving and even seasoned investors were wondering if the gloom would ever end.
The pessimists were having a field day
At the same time, the doomsayers had a multitude of things to worry about.
China was slowing down, commodity prices were collapsing and we were being told our mining boom was coming to an end.
The US economy was in trouble, the European economy was a basket case and there were concerns the world banking system would collapse.
And as they have done for the last few years, the overseas (and some local) property pessimists again enjoyed rubbing our noses into our high home prices, forecasting property prices would drop 15-20%.
Well, the doomsayers got it wrong!
But looking back with the benefit of hindsight, 2012 was a pretty good year for some investors. The world didn’t end, the share market recovered well and our property markets turned the corner in the middle of the year.
But not so good for everyone…
While all the action was going on, there were two types of property investor who didn’t do so well:
1. The nervous nellies
These are the potential investors who sat on the sidelines waiting for someone to ring the bell that the property market had bottomed. They have missed out on the strong capital growth that has occurred in most property markets since the middle of last year as can be seen from the following graph from <a href="https://www.macrobusiness.com.au/" target="_blank">Macrobusiness</a>.
<img src="/images/stories/2013/03/yardneymarch22one.png" width="470" height="368" alt="yardneymarch22one">
Source: MacroBusiness.com.au/RPData
Of course, certain properties performed significantly better than the average shown in the chart above.
2. Victims of the get-rich-quick crew and property spruikers
Firstly a quick disclaimer: because of my enthusiasm for property, the amount of writing I do and the numbers of emails I send out, I’m sometimes called a spruiker.
But remember, I have no properties for sale and never have had. So my advice is independent and unbiased and my optimism comes from the perspective of over 40 years in property investing.
Interestingly, I seem to have heard of more investors getting themselves into trouble over the last year than I’ve come across for a while.
Some have bought properties off the plan and were disappointed that end project values fell short of their purchase price.
Others bought house and land packages in “affordable suburbs” from developers or their marketing companies, only to find that the vast oversupply at a time when they settled and the valuations on their properties didn’t live up to expectations.
Yet others bought in mining towns.
Some of these investors may not yet realise how much trouble they are in until they try to sell.
 
<hr class="system-pagebreak">
Why property is poised for growth
Well, that’s all history, so the question is: where to from here?
As always, the pessimists will find something to worry about, but I think we’re in for a good year in property driven by:
&gt;A stable global economy
&gt;A strong local economy
&gt;Low unemployment – around 5.4%
&gt;Inflation at 2.2%, which is at the bottom of the Reserve Bank’s comfort band
&gt;Low interest rates stimulating consumer and business confidence
&gt;Strong immigration, rising rents and generally low levels of supply of good quality property
&gt;Robust household budgets
&gt;Funds flowing into self-managed super funds – much of it looking for a home in bricks and mortar.
The final nails in the doomsayer's coffin…
Over the last week, a number of leading indicators have made me feel even more confident about property in 2013 as they tend to pre-empt stronger property values.
1. Consumer confidence rose again in March
The Westpac Bank-Melbourne Institute reported consumer confidence rose a further 2.0% in March. The current level of the consumer confidence index is now around 10% higher than the long-term average and has risen 17% since April 2012. This will translate into increasing sales in all areas of our economy, including our real estate markets.
2. Strong jobs growth
While our unemployment rates stayed the same at 5.4%, payrolls rose 71,500 in February, the biggest jump in just over 12 years.
3. The RBA has confirmed the property markets turned last year
RBA governor Glenn Stevens confirmed our property markets turned last year (something those of us on the ground have known for months) and assistant governor Christopher Kent suggested construction of houses and apartments would pick up in 2013-14, and play some role in helping to support a gradual pick-up in economic growth.
4. Rising finance approvals
Australia’s housing finance approvals (in value terms) rose by 2.4% in January, driven in particular by investors responding to the lower interest rate environment.
<img src="/images/stories/2013/03/yardneymarch22two.jpg" width="470" height="318" alt="yardneymarch22two">
The bottom has now passed
While some of our property markets offered fantastic opportunities, lack of confidence held back many would-be homebuyers and property investors last year.
I can understand them: it’s hard to go against the crowd and make a significant investment in property if you think the market could fall further.
But as the year goes on and confidence grows, more and more people will realise the markets have turned and this will propel the upturn phase of the real estate cycle, particularly in the middle brackets of our capital city property markets.
The property cycle bottomed in the middle of last year – right at the time the doomsayers were having a field day.
Michael Yardney is a director of <a href="https://www.metropole.com.au/" rel="nofollow">Metropole Property Strategists</a>.
 
 
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Property doomsayers have been slayed by latest stats: Michael Yardney

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This weekend is expected to be Melbourne's fifth biggest in history with 1,210 auctions.
"There are two reasons for the high number of auctions, firstly as consumer confidence levels are slowly rising more owners are prepared to sell and secondly a traditional spike in listings caused by Easter the following weekend," the REIV spokeperson Robert Larocca said.
In Sydney there are 710 auctions which is just down on last year when the weekend before Easter had 735 listings and in 2010 when there was a 750 listings super Saturday, according to Australian Property Monitors. In Sydney, <a target="_blank" href="/news">Strathfield</a> leads the way with 15 scheduled auctions and <a target="_blank" href="/news">Concord</a> and <a target="_blank" href="/news">Maroubra</a> are each expected to host 13 auctions.
The Melbourne suburb with the highest volume of auctions this weekend is <a target="_blank" href="/news">Brighton</a>, which has 28 homes going under the hammer. There are also 22 scheduled in each of <a target="_blank" href="/news">South Yarra</a> and <a target="_blank" href="/news">Glen Iris</a>.
<div>
<div>Jellis Craig group chief executive Nick Dowling told Property Observer it would be a "huge weekend" for Melbourne and a "true test" of the strength of the property market.</div>
</div>
The group, which operates in the upmarket inner east and eastern suburbs, will hold around 100 auctions on Saturday and Dowling expects strong clearance rates which will be "proof" of the recovery."
The largest weekend in history was 14 and 15 March 2008, when there were 1,351 auctions and a clearance rate of 67%.
On one weekend in November 2003 there were 1,241 auctions and a clearance rate of 47%, while on one weekend in December 2010 there were 1,235 auctions with a clearance rate of 57%.
In October 2007 there was a weekend with 1,211 auctions with a very strong clearance rate of 83%.
The Melbourne suburbs ranked by volume of auctions in the week ending 24 March, according to the REIV are:
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<img src="file:///page1image16192" alt="page1image16192" width="433.231000" height="1.411000"><img src="file:///page1image16352" alt="page1image16352" width="71.520000" height="0.660000"><table style="border-collapse: collapse;">
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<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.480000pt; border-bottom-width: 0.480010pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
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Suburb
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Number of auctions
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YTD Clearance rate
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</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.480000pt; border-bottom-width: 0.480000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
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Brighton
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<div class="layoutArea">
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28
</div>
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<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.419980pt; border-bottom-width: 0.480000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
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66 %
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.480000pt; border-right-width: 0.480000pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
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South Yarra
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22
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</div>
</td>
<td style="border-style: solid; border-top-width: 0.480000pt; border-right-width: 0.419980pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
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78%
</div>
</div>
</td>
</tr>
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<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.480000pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
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Glen Iris
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22
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</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.419980pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
76%
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.480000pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
Prahran
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.420000pt; border-bottom-width: 0.420000pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
19
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.419980pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
79 %
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.480000pt; border-bottom-width: 0.480000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
Richmond
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.420000pt; border-bottom-width: 0.480000pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
19
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.419980pt; border-bottom-width: 0.480000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
87%
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.480000pt; border-right-width: 0.480000pt; border-bottom-width: 0.480010pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
Malvern East
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480000pt; border-right-width: 0.420000pt; border-bottom-width: 0.480010pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
19
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480000pt; border-right-width: 0.419980pt; border-bottom-width: 0.480010pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
74%
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.480000pt; border-bottom-width: 0.480010pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
Elsternwick
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.420000pt; border-bottom-width: 0.480010pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
18
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.419980pt; border-bottom-width: 0.480010pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
79%
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.480000pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
Kew
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.420000pt; border-bottom-width: 0.420000pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
18
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.480010pt; border-right-width: 0.419980pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
69%
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.480000pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
Hawthorn
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.420000pt; border-bottom-width: 0.420000pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
18
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.419980pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
80%
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.480000pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
Reservoir
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.420000pt; border-bottom-width: 0.420000pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
17
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.419980pt; border-bottom-width: 0.420000pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
67%
</div>
</div>
</td>
</tr>
<tr>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.480000pt; border-bottom-width: 0.479980pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
Toorak
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.420000pt; border-bottom-width: 0.479980pt; border-left-width: 0.480000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
17
</div>
</div>
</td>
<td style="border-style: solid; border-top-width: 0.420000pt; border-right-width: 0.419980pt; border-bottom-width: 0.479980pt; border-left-width: 0.420000pt; border-color: rgb(0.000000%, 0.000000%, 0.000000%);">
<div class="layoutArea">
<div class="column">
67%
</div>
</div>
</td>
</tr>
</tbody>
</table>
</div>
 
A three-bedroom home at <a href="https://www.realestate.com.au/buy/in-brighton%2c+vic+3186/list-1?includeSurrounding=false&amp;persistIncludeSurrounding=true" target="_blank">51 Montclair Avenue, Brighton</a> (pictured below), will go to auction tomorrow with a price guide of $730,000 to $790,000.
<img src="/images/stories/2013/03/brightonmarch22one.jpg" width="470" height="350" alt="brightonmarch22one">
A five-bedroom house at <a target="_blank" href="https://www.realestate.com.au/property-house-vic-brighton-113047407">37 Drake Street, Brighton</a> (pictured below), will also go under the hammer tomorrow.
<img alt="brightonmarch22two" height="350" width="470" src="/images/stories/2013/03/brightonmarch22two.jpg">
RP Data expects that over the week to Sunday 24 March, 2,415 auctions will be held across the nation's capital cities.
The bulk will be held tomorrow.
 
<hr class="system-pagebreak">
Last week across the combined capital cities, the auction clearance rate was recorded at 62.2%, up slightly from 61.6% the prior week.
Auction volumes rebounded to 1,851 over the week, up from 996 the week prior.
At the same time last year, there were 1,454 auctions and the clearance rate was recorded at 51.4%.
Over the past four weeks, the combined capital city auction clearance rate has been in excess of 60% each week.
In Melbourne, Australia’s largest auction market, there were 928 auctions last week with a clearance rate of 66%.
In comparison, over the previous week of the Labour Day long weekend, there were 227 auctions held and the clearance rate was recorded at 62.4%.
In Sydney, the auction clearance rate was recorded at 65.6% last week, down from 67.6%.
Sydney auction volumes across the city increased from 533 the week prior to 647 last week.
Auctions continue all the way through to Easter Thursday.
A<a target="_blank" href="https://27springroadmalvern.com/"> four-bedroom, four-bathroom trophy home in Malvern</a> (pictured below) will be auctioned next week with price expectations of $3.5 million-plus.
<img alt="brightonmarch22three" height="312" width="470" src="/images/stories/2013/03/brightonmarch22three.jpg">
Located on Spring Street on an 897-square-metre lot, it is the second time the two-year-old residence has been offered for sale.
It was last listed for auction in June 2011 for $3.7 million plus.
It is owned by Con Tangalakis, co-owner of Sinapse, a business consultancy company.
Architecturally designed by David Edelman architects, the home boasts a home theatre room, a miele-equipped kitchen with white stone benches and a children’s retreat.
The property also includes a solar heated pool and landscaped gardens.
Joanna Nairn from Marshall White has listed the home for a March 28 auction.
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