Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

Joel Robinson

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, <a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a>.

The $250 million coastal project, one of the first new developments in the area in several years, has proven particularly popular with downsizers, especially those from Coogee and Bondi. One Double Bay downsizer paid $4.7 million for a four-bedroom penthouse, setting a new local apartment price record in the process.

Buyers have been attracted to the combination of coastal tranquillity, premium design and amenity-rich neighbourhood living. The walkable village setting, along with proximity to three of Sydney’s leading golf courses, New South Wales Golf Club, St Michael’s Golf Club and The Coast Golf Club, has also been a key drawcard.

[smartcode_project:default project_id=112343 project_image_fid=352689]

Built across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis</a> and set along a lush, landscaped green spine, designed by leading landscape architect <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>, ESTE Little Bay offers a collection of one, two, three and four-bedroom residences with interiors by Richards Stanisich.

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> Sales Director, Tom McIvor said the response to ESTE has been "nothing short of extraordinary."

“Buyers have been quick to recognise ESTE as a rare opportunity to invest in a coastal sanctuary that offers both seclusion and connectivity to the heart of Sydney,” McIvor said.

[smartcode_project:default project_id=112343 project_image_fid=352687]

<a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a> Senior Director, <a href="https://www.apartments.com.au/project-marketer/srm-residential">Clayton Ross</a> said the local market has responded incredibly well, driven by ESTE’s exceptional location and the rarity it offers.

“We’ve seen strong interest from a variety of buyer groups, all of whom are drawn to the exclusivity and quality of the build and construction by the 4.5-star iCIRT-rated builder / developer, Urban Property Group. There’s truly nothing else like it along Sydney’s coastline.”

[smartcode_project:default project_id=112343 project_image_fid=352690]

The project also includes robust buyer protections, including Resilience Insurance’s Latent Defects Insurance, providing 10 years of structural cover, and an independent iCIRT-rating of the developer.

“The iCIRT-rating adds another layer of confidence,” Ross added. “Buyers see it as a safeguard for their investment and their lifestyle.” A highlight of ESTE’s offering is its exclusive wellness amenities, including a heated rooftop infinity pool and outdoor heated spa, a state-of-the-art Technogym fitness centre, and a sauna.

<a href="https://www.apartments.com.au/new-apartments/este-little-bay-jennifer-street-little-bay-nsw-2036">ESTE Little Bay</a> is topped out and is on track to complete towards the end of 2026, with residents moving in before Christmas.

[smartcode_project_cta:default project_id=112343]

Eastern Suburbs buyers snap up ESTE Little Bay apartments

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?

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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EXPERT OBSERVER
<h3 class="post-title entry-title">
<a href="https://petewargent.blogspot.com/2019/01/hows-act-land-tax-going"></a>Canberra rents surge </h3>
<div id="post-body-7598088234210480051" class="post-body entry-content">
<div>I've been consistent on this point (often wrong, but never in doubt!): taxes in the Australian Capital Territory (ACT) are far too high for landlords to invest there en masse, which will lead to a rental shortage as the population steadily grows. </div>
<div> </div>
<div>There are a lot of 'well, in theory...' type comments made about this point, however, including by me, so let's stick to the hard data for today.</div>
<div> </div>
<div>Rental vacancy rates fell from 2½ per cent in 2014 when rate rises were first introduced to 0.6 per cent in October 2018. </div>
<div> </div>
<div>Rental markets are seasonal in the ACT and often tighten through the early months of the calendar year, and in turn Canberra could take out Hobart in Tasmania for title of most undersupplied capital city rental market in 2019, which is is some feat (click to expand): </div>
<div> </div>
<div class="separator"><a href="https://3.bp.blogspot.com/-vT1xNQ-Dd80/XDbv-FMFELI/AAAAAAAAt3c/cYKMVTIhmYgYm33-es2Bb-k5EyZiZE-ygCEwYBhgL/s1600/SQM2.jpg" target="_blank"><img src="https://3.bp.blogspot.com/-vT1xNQ-Dd80/XDbv-FMFELI/AAAAAAAAt3c/cYKMVTIhmYgYm33-es2Bb-k5EyZiZE-ygCEwYBhgL/s640/SQM2.jpg" width="640" height="350" data-original-height="797" data-original-width="1453"></a></div>
<div> </div>
<div>Asking rents for houses in Canberra are now up by more than 26 per cent over the past three years alone. </div>
<div> </div>
<div>A major issue is that rates are often far too high on units as well, despite the relatively low land value content of this property type. </div>
<div> </div>
<div>The asking rent for 2-bedroom units in Canberra is also up by more than 23 per cent over the same time period!</div>
<div> </div>
<div>In Canberra! </div>
<div> </div>
<div class="separator"><a href="https://4.bp.blogspot.com/-qPJMlBBFvq8/XDbv93SNgdI/AAAAAAAAt3g/ybb9rzPeXyQohtoeTKB8Ta16YaZc7WzGACLcBGAs/s1600/sqm1.jpg" target="_blank"><img src="https://4.bp.blogspot.com/-qPJMlBBFvq8/XDbv93SNgdI/AAAAAAAAt3g/ybb9rzPeXyQohtoeTKB8Ta16YaZc7WzGACLcBGAs/s640/sqm1.jpg" width="640" height="188" data-original-height="229" data-original-width="777"></a></div>
 <div>Source: SQM Research</div>
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<div>
If you don't like asking rents - and you may not - then Domain's actual rental report figures this week were similar. Domain reported that Canberra is now a more expensive city in which to rent a home than even Sydney, with rents spiralling as high as the Black Mountain Tower. 
</div>
<div> </div>
<div>Dr. Nicola Powell:</div>
<div> </div>
<div>"With investors slugged with higher rates and land taxes, it is likely landlords are passing on the additional costs to tenants, or opting for high yielding short-term leases in order to recover costs."</div>
<div> </div>
<div>On the plus side there have been some significant apartment projects approved for construction, but one questions which landlords are going to buy them and rent them out. </div>
<div> </div>
<div>Politicians seeking tax deductions, perhaps. Foreign investors won't supply the rentals any longer, having already been taxed out of the market. <div class="separator"><a href="https://4.bp.blogspot.com/-SLAOdeLo-_w/XDb2yteH7-I/AAAAAAAAt38/-gvstrSWvQgPXqqff-6uw_xnFupyVf8EwCLcBGAs/s1600/China.jpg" target="_blank"><img src="https://4.bp.blogspot.com/-SLAOdeLo-_w/XDb2yteH7-I/AAAAAAAAt38/-gvstrSWvQgPXqqff-6uw_xnFupyVf8EwCLcBGAs/s640/China.jpg" width="640" height="128" data-original-height="146" data-original-width="729"></a></div>
</div>
<div>Some people are even campaigning for high land taxes, and the ALP negative gearing reforms, and a doubling of capital gains tax (all of this on top of the changes made to foreign investment, interest-only lending, restrictions on Division 40 depreciation, disallowance of travel expenses etc etc.). </div>
<div> </div>
<div>There's nothing much to say but best of luck with that!</div>
<div>
 It's a small city, which grows in population by less than 10,000 per annum. Way to go!</div>
<div> </div>
<div>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</div>
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How's the ACT land tax going? And what it means for property investor supply: Pete Wargent

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EXPERT OBSERVER
Sometimes economic upheaval can be the best thing that happens to a property market. Places afflicted by business closures and industry shutdowns often go into fightback mode and the end result is a net positive.
Newcastle since the closure of BHP in the late 1990s is a great example. So is Wollongong, a city where doom was forecast when Bluescope Steel was downsizing but which these days has a thriving local economy and growth property market.
And Geelong, which has had a number of blue-collar industries close but which has evolved into one of regional Australia’s strongest economies, with a property market which had led Victoria on price growth in the past two years.
In Adelaide, the former Mitsubishi car plant property has been re-purposed as a high-tech innovation precinct, a sector in which the SA capital leads the nation. More recently, the Holden manufacturing facility closed down but that too is being reinvented with modern creative industries.
Sometimes, this kind of supposed adversity can be the best thing that can happen in a local economy and its real estate market.
So now, to the surprise of many, we have resurgence in the Latrobe Valley in Victoria, where the closure of coal-related industries was thought be the death knell for local towns. But, yet again, the opposite is true and now towns like Traralgon and Moe are shaping as the next to join Victoria’s regional property boom.
Yes, there’s a property boom sweeping through regional Victoria. Contrary to the theme of mainstream media, which has created the false impression of decline everywhere, there are thriving and rising markets across the nation – and regional Victoria is at the forefront of them.
Victoria’s Latrobe Valley is a market that many investors would avoid because many of its towns are down-market and the region has attracted mostly negative publicity suggesting economic decline.
But the reality is quite different from the media-driven perceptions. The Latrobe Valley is performing strongly and the real estate market is rising. It’s becoming the latest of the fightback markets of Australia.
Buyer demand has been slowly rippling eastward from Melbourne in the last few years. Sales activity in Cardinia Shire (Pakenham and Officer) and Baw Baw (Warragul and Drouin) has risen strongly, with big price growth. Now, it’s Latrobe City’s turn. 
The Latrobe Valley economy was impacted by the closure of coal-fired power stations but various levels of government have been directing resources to the region to boost the economy and maintain jobs. Numerous small projects to support small business and manufacturing are under way, schools and sporting complexes are being upgraded, a GovHub is being established and unemployment has fallen.
On a larger scale, the Defence Force is relocating its pilot training academy to nearby Sale, the local hospital is being redeveloped in a $217 million project, the Gippsland rail line is being duplicated in several sections and there are plans to establish an electronic car-making factory in the region.
This is drawing the focus from the traditional mining sector and steering Latrobe Valley in a new direction.
Latrobe City is recognised as one of Victoria’s four major regional centres along with Ballarat, Bendigo and Geelong. It is made up of four central towns – Churchill, Moe/Newborough, Morwell and Traralgon.
The City is the residential and commercial hub of a larger catchment of 262,000 people stretching across the Latrobe Valley and Gippsland region. Latrobe Valley is one of the most liveable regions in Victoria, known for its high-quality health, education and community services.
More commonly known for its energy production, the Latrobe region is also a heartland for agriculture, pastoral, papermaking and timber, supplemented by manufacturing and engineering.
Latrobe Valley is serviced by Victoria’s regional train network with V/Line train stations at Trafalgar, Moe, Morwell and Traralgon.
Regional Victoria is now the strongest market in Australian real estate. As the Melbourne boom subsides, regional markets are rising strongly.
Latrobe is a prime example: demand is rising in all four main towns. These markets are very affordable – Churchill, Moe and Morwell all have medians below $200,000. Traralgon, the biggest market with 620 annual sales, has a median house price of $290,000. 
Strong yields and low vacancies, both being hallmarks of a promising property market, are evident across Latrobe City. SQM Research data shows rents have generally risen in the last 12 months. The median rent in Morwell is $240, 8% higher than a year ago and 18% up on the rate of three years ago. Investors can expect rental returns around 6.8% in Churchill and Morwell, and 6.4% in Moe. 
The region can now offer a combination of low prices, low vacancies and high rental returns. 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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Regional property markets historically defy their economic downturns: Hotspotting's Terry Ryder

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The prestige market in Sydney is spread across a number of regions including riverfront locations in the south and inner west, to large estates in The Hills, to large modern inner city apartments, to harbour side and beachside areas of the east and north.
Traditionally prestige properties were considered to be those with a value above $3 million, however in some areas this is now $5 million and above, the valuation firm Herron Todd White's latest report suggested.
It noted the prestige market has experienced significant growth over the past five years, however has experienced some softening of prices over the past six to twelve months, with some areas holding up better than others. A recent CoreLogic article indicated a 5.7% fall in the prices of the 25% most expensive properties in Sydney over the past 12 months.
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HTW consider the prestige market to be less dependent on affordability issues than other markets. 
Instead, the market is driven by global flows of wealth and a supply versus demand balance. It noted the factors that will help stimulate the Sydney prestige market include the Australian dollar, domestic and international share markets, business performance, business confidence, company profits, Chinese interest in trophy homes, buyer activity from expats and migration interest under the Significant and Premium Investor Visa Program.
The report did noted that rhe eastern suburbs prestige market has started 2018 fairly strongly, carrying over from what was considered a solidly performing 2017.
Good quality family homes in the $5 million to $10 million price range are the strongest sector of the prestige market. 
The harbourside suburbs of Bellevue Hill, Rose Bay, Woollahra, Double Bay, Dover Heights and Vaucluse and beachside suburbs such as Bronte, Tamarama and Clovelly have all seen steady numbers of prestige sales in the year to date.
Local high income families have been the typical buyers for these types of properties which is driving this sector. Vaucluse saw approximately 11 registered sales above $5 million in 2018 (as at 19 April) with two of these sales being above $10 million (source: PriceFinder, RP Data and Realestate.com.au.).
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<div class="column">
The higher price points of $15 million plus, often referred to as trophy homes, have seen limited transactions and some market softening with extended selling periods. Vendor expectations have had to become more realistic to meet the market.
This is fairly similar with the prestige unit market with somewhat mixed results and limited transactions occurring in the $5 million plus category.
Buyers are becoming more cautious particularly in regard to those considered to be secondary prestige properties (busy road positions, steep sloping sites, etc). There are also an increasing proportion of prestige properties being sold off market though local agents.
Overall there are some mixed results within the eastern suburbs prestige market and the rest of 2018 is expected to see a continued stable market with some of the price points and property types experiencing some softening.
Some examples of recent prestige sales in the area include 148 Old South Head Road, Vaucluse, which sold in March for $8.2 million after 30 days on the market and 178 Hopetoun Avenue, Vaucluse, which sold in April for $17 million after 253 days on the market with original expectations in August 2017 of $22 million.
A Vaucluse brand new architecturally designed house over three levels with harbour views was sold on May 3 (pictured below).
Designed according to traditional Feng Shui principle, <a href="https://www.realestate.com.au/sold/property-house-nsw-vaucluse-127494758" target="_blank">the 148 Old South Head Rd</a> house is graced with prestige appointments and finishes of the finest calibre.
The indoor features include five bedrooms, living/dining and family areas with balconies, home cinema and Miele marble kitchen.
The outdoor area comes with mosaic tiled pool, rooftop terrace with superb views and five car garage. 
Positioned on a 700 sqm block, it is opposite Christison Park and the iconic Macquarie Lighthouse. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/15/148%20OLD%20SOUTH%20HEAD%20ROAD.jpg" alt="">
Another Vaucluse seven bedroom harbourside house was sold in April (pictured below).
Architect designed by Michael Suttor less than 20 years ago, the <a href="https://www.realestate.com.au/sold/property-house-nsw-vaucluse-126089194" target="_blank">178 Hopetoun Avenue house</a> features light filled interiors and resort style living.
It comes with seven bedrooms, separate formal lounge and dining areas, and gourmet open plan kitchen.
Outdoor features include level garden, pool, and full tennis court.
It is located within a stroll to historic Watsons Bay and convenient to Rose Bay and Bondi Beach.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/15/178%20hopetoun%20avenue.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Some softening in prestige prices in Sydney's trophy home market

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When looking at prestige properties on the Sunshine Coast the one thing you can say is that it has ‘all been happening’, according to the valuation firm, Herron Todd White.
 Buyer demand is strong with the stock levels being low in turn leading to upward pressure being placed on prices, its May report noted.
When defiining the Sunshine Coast prestige market, the $1 million mark has always been considered the starting point. 
Just like lower-priced entry-level properties, the entry levels of the prestige market, between $1 million to $1.5 million have been the most popular.
"As this sector of the market took off we have seen a fuse being lit. 
"Activity has picked up right through the value bands all the way to the three record-breaking transactions that occurred in the space of four months," HTW advised.
The most popular areas in the prestige market have continued to be coastal locations.
When looking at the coast you can break it up by the old shire council regions being Caloundra to the south, Maroochy to the central area and Noosa to the north.
"There is no doubt that beachside and canal front areas have all been performing really well.
"Suffice to say they aren’t making any more of these property types which should hold owners in good stead.
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<div class="column">
When looking at the prestige rural residential/ lifestyle market, things are a bit different," HTW advised.
 This market is little hard to gauge as it is very property specific with personal preferences presentation and motivation of both purchases vendor is having an impact on the ultimate sale price. 
Therefore wider market parameters should be expected than those experienced for more traditional residential properties.
An interesting observation in this lifestyle market is that proportionally, values for smaller acreage prestige properties have performed better than the larger acreage counterparts. 
It appears that the cost to run these larger acreage properties have had a bearing on the market that does sometimes struggle to get its ‘head around’ what’s involved.
For units, HTW have seen a flight to larger permanent occupancy style product. 
The main market operating in this area is the ‘empty nester’s that are looking to downsize and have a property where they can ‘lock and leave’ and go travelling etc.
Within the resort/holiday space, we have also started to see the Hasting Street beachfront units come back but still a bit off from the last market peak.
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<div class="column">
The improvement in the prestige/higher end properties has historically been driven by a high percentage of interstate investors from Sydney and Melbourne. 
"This is especially the case in the Noosa region. 
"The relative affordability, when you compare Sydney and Melbourne prices to those of the Sunshine Coast, demonstrate pretty good value. 
"It also appears that Sunshine Coast is pretty high on a number of the list of the baby boomers that have started to retire."
There have been three record sale prices that have transacted in the space of four months. 
First off 29 Wyuna Drive, Noosaville sold in October 2017 for $10.3 million (Listed for $11.9 million) which was on the market for 351 days. 
Next was 46 Seaview Terrace Sunshine Beach, which sold for $15.2 million (Listed for $18 million) in January 2018 and was on the market for approximately 581 days.
Finally 21 Webb Road, Sunshine Beach sold in February 2018 for $18 million (Listed for $22 million) after being on the market for only 52 days. 
It is HTW's understanding that the purchases of some of the properties were highly successful business people that had effectively sold large businesses.
The ‘ultra- prestige’ sector is more a matter of timing rather than anything else and tends to be more active during periods of stronger M&amp;A activity.
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"The question that we always get when we looking at the prestige markets is that - is the current growth that we are experiencing sustainable?
"There is no doubt that the prestige market is heavily linked to the wider economy which has been performing well.
"HTW do however have a history of volatility (up to 40% in some cases) in this market given that these properties are ‘wants’ rather than ‘needs.’ I mean, is there anything more discretionary than a multimillion-dollar holiday home?"
The report concluded the big positive at the moment is that the Sunshine Coast appears to be ‘on a lot of people’s lips’ and while the economy keeps performing well and barring any unforeseen incidents, the prestige market should keep chugging along for a little while yet.
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Upwards pressure on prices in Sunshine Coast trophy home market

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Melbourne has been attracting most of the population growth headlines, justifiably, but many of the outstanding growth areas of Australia are regional centres.
The population numbers confirm my view that there’s too much emphasis on capital cities and not enough on regional areas.
We have numerous regional centres which are larger than some of our state and territory capital cities. 
The Gold Coast-Tweed Heads and Newcastle-Maitland urban areas are both larger than the national capital, Canberra. 
The Central Coast, the Sunshine Coast, Wollongong and Geelong are all significantly bigger than Hobart; while Townsville, Cairns and Toowoomba are all larger cities than Darwin.
A recent analysis of the 50 largest urban areas of Australia by “id the population experts” shows which cities grew the most last year and over the past five years. I’d like to focus in particular on the top 20 urban areas.
In terms of growth in 2017, Geelong is the national growth star with a 2.7% increase, following by nearby Melbourne on 2.6%.
Next come the Gold Coast and the Sunshine Coast, which both grew 2.5%. Brisbane grew 2%, so the unavoidable conclusion is that Australia has two major centres of exceptional population growth – the Melbourne-Geelong region and South-East Queensland.
In terms of five-year growth, the top six growth centres are Melbourne (13.5%), the Sunshine Coast (12.7%), Geelong (12.3%), the Gold Coast (11.4%), Darwin (10.2%) and Sydney (10.1%).
All of those urban centres, apart from Darwin (which has fallen into a bit of slump in recent years), had significant growth in 2017.
Other locations to record strong growth in both 2017 and the past five years include Ballarat (the 18th largest urban area in Australia) and Bendigo (the 19th largest).
Looking at centres in the 50 largest urban areas but not in the top 20, the two standout growth areas are Melton and Warragul-Drouin.
Melton, out in the far west of the Melbourne metropolitan area, grew 5.3% in 2017 and 26.6% in the past five years.
Warragul-Drouin, in the Gippsland region east of Melbourne, increased 3.4% in 2017 and 16.7% in the past five years.
Other ABS information shows that many of these regional areas are gaining population from people moving from nearby capital cities. The greatest beneficiary of this trend last year was the Gold Coast, followed by the Sunshine Coast.
Others to gain from refugees from the city include regional areas close to Melbourne, including Latrobe-Gippsland, Geelong, Bendigo and Ballarat. 
So there’s an undeniable pattern to the population growth achievers of Australia. Victoria is a stand-out, both Melbourne as the leading capital city and numerous regional centres which are surging ahead, including Geelong, Ballarat, Bendigo and Warragul-Drouin.
Beyond Victoria, it’s all about South-East Queensland, with Brisbane, the Sunshine Coast and the Gold Coast all achieving consistently high growth.
If we change the focus and concentrate on Local Government Areas rather than continuous urban areas, there’s a slightly different focus, although Melbourne remains the star.
In terms of percentage population growth in 2017, the top 10 LGAs in Australia, according to “id the population experts”, include six municipalities in the Melbourne region, two in Sydney and two in Perth.
From this perspective, the leading population growth LGA last year was Camden in the far south-west of Sydney, which there is ample land for new housing development. The Camden LGA grew 8.4% in 2017.
In the Perth region, the LGAs of Serpentine-Jarrahdale (up 6.5%) and Kwinana (up 4.6%) ranked No.3 and No.7 among the nation’s municipalities for population growth rates in 2017.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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Too much emphasis on capital city population growth and not on regional: Hotspotting's Terry Ryder

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Generalised reporting of major markets is the curse of investors trying to find out what’s really happening. The growth figures published in mainstream media, with a single figure to describe an entire city, mislead more than they inform.
It’s one reason why few people I speak to can be convinced that it’s worth considering Adelaide, which I regard as Australia’s most under-rated market.
The generalised figures suggest little price growth - but, as is often the case, individual locations are doing better. 
Figures from realestate.com.au show that some Adelaide suburbs are selling homes quickly - and other data shows that many of these locations are recording above-average price growth.
According to realestate.com.au data for the six months to April 30, Gilberton has Adelaide’s fastest-selling houses. Houses in the north-eastern fringe suburb have a median time on market of 13 days – up there with the best in the nation.
Gilberton’s median house price has grown 19 percent in the past year to reach $1,090,000.
Houses in Hyde Park (median price $1,370,000, up 5 percent in 12 months) and Sefton Park (640,000, up 21 percent) have a median time on market of 17 days.
Clarence Gardens ($630,000, up 7 percent) and Melrose Park ($552,000, up 8 percent) houses sell in 18 days.
Realestate.com.au chief economist Nerida Conisbee said Adelaide’s market is performing strongly and sale times will likely go down as stock levels typically drop over winter.
“On average we typically see homes selling in around 40 days so you are looking at a pretty speedy market,” Conisbee says.
This confirms our view that the Adelaide market is stronger than the generalised price data indicates.
And I think it will get stronger, as the state economy delivers on the considerable promise it is increasingly showing. 
The unemployment rate for South Australia has risen slightly in the latest official data, but it remains healthy at 5.9 percent, compared to 6.5 percent in Queensland and Western Australia, and 6 percent in Tasmania. Only NSW (5 percent) and Victoria (5.3 percent) have better jobless rates than SA. 
The state economy is showing great resilience, despite some negatives such as the Holden factory closure, and this is under-pinning real estate markets.
Adelaide is the innovation capital of Australia and increasingly major businesses are relocating to the SA capital for that reason. SA leads on the nation on alternative energy and projects under way or in planning total many billions of dollars. 
And the big enterprises to create vessels for the Navy are also in the pipeline.
Canberra is another capital city that flies under the radar screens of most investors, despite everything it offers.
The ACT has the nation’s fastest-growing economy, according to Deloitte Access Economics’ business outlook, which says the ACT went to the “top of the leaderboard” in 2017, with gross state product rising 4.6 percent.
Deloitte partner Chris Richardson says low interest rates have given the ACT’s “massive mortgage belt” some breathing space. “There’s two big levers at play in Canberra: the size of the public service and interest rates,” he says.
After weathering government cutbacks in recent years, the public sector is now “in the sweet spot”.
The State of the States report from CommSec has the ACT in third place overall in a study of the states and territories on eight economic indicators. 
The ACT trailed NSW and Victoria overall but ranks first on housing finance (up 28% on the long-term average), second on unemployment and second for annual population growth, up 1.8%. The ACT’s home building starts were up 16.5% on decade averages, placing it third. It’s a strong report card and is a key factor in the steady rise in prices and rents. 
The latest figures from SQM Research confirm the very low vacancy rates in Canberra.  The firm’s mid-May report recorded a vacancy rate of 0.8%, compared with Sydney (2.3%), Brisbane (3%) and Perth (4.1%). 
Only Hobart (0.7%) has a lower vacancy rate, according to these figures.
Not surprisingly, rents are rising. In annual terms, the weekly asking rent index is up 7.6% for houses and 4.1% for units.
The Domain Group has also published figures showing strong annual rises in Canberra rents, with houses overall up 6% and units up about 5%. 
Domain chief data scientist Dr Nicola Powell says: “This data echoes what we have been seeing in the Canberra market and that is rents are rising across the board.
“House rents have been growing since mid-2015 and unit rents have been growing since the end of 2015.”
Some forecasters have tipped Canberra to lead the capital cities on price growth in the next three years. I’m not sure it will be No.1 but I expect it to be a contender.
For my third under-rated market, I could nominate pretty much any of our major regional cities.
Organisations whose goal is promoting themselves rather than informing the public like to publish average growth rates to compare capital cities with the regions. The regions will always lose in this comparison because the regions include struggling mining towns and other areas suffering from negative events such as drought.
It would be more valid to compare the capital cities with the largest regional centres like Newcastle, the Gold Coast and Geelong - and this comparison would produce a very different result.
Many suburbs in both Newcastle and Geelong have recorded median price growth above 20 percent in the past 12 months. Several other regional markets, including those close to Melbourne and to Sydney, have had serious growth in the past couple of years.
But under the general heading of under-rated I’d go for Ballarat. Whenever I speak about cities like this, I get that kneejerk reaction about regional centres never delivering growth.
But consider what a city like Ballarat offers. Virtually every suburb has a median house price below $450,000, including several with medians in the $200,000s. It’s not too hard to find rental yields above 5 percent. And there’s been serious price growth recently.
The suburbs of Soldiers Hill, Buninyong and Black Hill are up more than 20 percent I the past 12 months. Others have grown 10-12 percent.
The city is underpinned by a strong, diverse local economy, a growing population and good transport links to Melbourne. 
It’s feasible to buy a good home there at a fraction of Melbourne’s prices and commute to work somewhere in the state capital (keeping in mind also that some of Melbourne’s biggest jobs nodes are on the northern fringe of the metro area, closest to cities like Ballarat and other attractive Hill Change towns in Victoria).
But there are plenty of jobs within Ballarat itself, which is attracting growing numbers of buyers from Melbourne, seeking more attractive prices and a different lifestyle.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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Australia's three most underrated growth markets

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For the majority of property investors, it is very difficult to accept the concept of buying investment property in another city or state. In fact, <a href="https://theconversation.com/three-charts-on-who-is-the-typical-investor-in-the-australian-property-market-81319" target="_blank">recent studies</a> show that only 11% of investors are investing in property interstate. As much as we all want to be logical and rational in our investment decisions, for many of us, emotion does come into play and the comfort that comes with knowing an area well does impact where and what we invest in. This can have significant effects on your return on investment.
At some point, as an investor you will be challenged by something that encourages you to look at another city. Perhaps it is affordability, or the need to diversify your portfolio – but when this challenge presents itself, if you are able to recognise the benefits of looking beyond your home city, the next steps will be easier than you initially thought, and you will be able to move forward with your investment decisions and continue to build your portfolio.
<h4>THE BENEFITS OF INVESTING IN MULTIPLE CITIES</h4>
Market conditions and cycles continually fluctuate between each state and city, so that when values are rising in one market, another area may be flat while another may be poised for growth. For many investors, diversifying across multiple cities enables them to take advantage of the different market cycles.
Investing in another city or state also offers a wider variety of choice in affordable investment options. For many who are increasingly being priced out of Sydney, the relative <a href="https://www.ironfish.com.au/blog/2017/06/07/better-lifestyle-half-cost-australias-popular-capital-city-move/" target="_blank">affordability of the other major capital cities</a> has strong appeal.
There are also differences in capital growth and rental yields at varying times across the different cities. For example, according to <a href="https://www.corelogic.com.au/news/capital-city-dwelling-values-rise-0-8-over-june-quarter#.WY0kJFEjGUl" target="_blank">figures from CoreLogic</a>, in the last year to 30 June 2017, Melbourne houses had the highest capital growth (15%) of all the capital cities and all housing types. On the other hand, Brisbane apartments had the highest rental yield (5.2%) out of the 5 major Australian capital cities. By diversifying your portfolio across multiple cities, you will have a better opportunity of targeting your desired capital growth and rental yield across your portfolio.
Another important consideration is the varying taxes across the different states. Each state has its own stamp duty rates and differing land tax thresholds – as well as continually changing Government incentives and grants. By diversifying across the states, investors can take advantage of the different thresholds and incentives on offer.
<h4>SO, WHERE AND HOW TO BEGIN?</h4>
Once you’ve decided to invest in another city, the next steps are similar to the process you would go through in buying residential property in your own city or state, with a few key factors to consider. Here’s our top 5 property investment tips for investing in another city or interstate.
<ol>
<li>
<h4>Research</h4>
</li>
</ol>
Read as much as possible. For most people, it’s an impossible task to go and personally visit every city you may plan to invest in – both in terms of time, and money spent – and without any potential payback. Instead, consider reading up online; there are many wonderful resources and <a href="https://www.ironfish.com.au/property-outlook-report/" target="_blank">reports</a> to equip you with knowledge of the different cities and how the markets are performing.
<ol start="2">
<li>
<h4>Talk to experts with local knowledge</h4>
</li>
</ol>
Get an understanding of how locals live – do they want to be close to the beach, or close to cafes? Do locals catch the train or bus or tram to work? Gain insights into what locals want from a property – keeping in mind this may vary significantly to what you might want from a property, or what people in your city may want from a property.
<ol start="3">
<li>
<h4>Know your budget</h4>
</li>
</ol>
There is no point looking for a penthouse in New York if your budget is $300,000! Understand your limits and look for what you can afford. The table below is a good guide to understanding what your money may be able to buy in each city.
<img src="https://www.urban.com.au/images/2017/08/08/Affordability-index.png" alt="">
<img class="alignnone wp-image-6495 size-full" src="https://www.ironfish.com.au/wp-content/uploads/2017/08/affordability-disclaimer.png" alt="" width="867" height="79">
You should also factor in the different costs of ownership in different cities, as each state has different stamp duty rates, and also different thresholds for land tax payable. By diversifying your portfolio you can limit land tax payable – although this shouldn’t be the main driver for your investment strategy, it is certainly a benefit of diversification.  
<ol start="4">
<li>
<h4>Take the emotion out of your investment</h4>
</li>
</ol>
Buying investment property is, of course, an inherently different type of decision to buying your own home. Remember that the things you may love about living in a particular type, size or location of a property may be very different to what others may value in their local city. Stay focused on the research, and of course, make sure that the fundamentals of the property are sound – that you are investing in quality.
<ol start="5">
<li>
<h4>Get the support of a good team</h4>
</li>
</ol>
The challenges of investing with confidence in another city or state can feel insurmountable when you’re doing it on your own. That’s why it’s important to get the support of a team of professionals who can help to guide you through the process. We know the importance of local knowledge when it comes to property investment, and as an investor you can leverage our national network of 9 offices located across the 5 major Australian capital cities. Also ensure that you have a great solicitor, accountant and mortgage broker on your team – with the right support in place, investing in another city is well within reach.
If you’re interested in buying investment property and would like more information on interstate property markets, you can download our national residential property report <a href="https://www.ironfish.com.au/property-outlook-report/" target="_blank">“My Market.</a>”
Or if you would like specific reports about each of the major Australian property markets (Sydney, Melbourne, Brisbane, Adelaide and Perth), please <a href="https://www.ironfish.com.au/contact-us/" target="_blank">contact your local strategist</a> who will be able to give you a copy of the relevant “MyCity” report.
 
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jrobinson-rf4aSBido9

How to invest in property in a city you’ve never been to

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Real estate abounds with myths and misconceptions, most of them contradicted by the research evidence.
Perhaps the oldest and most enduring of property’s cliches is that you get the best capital growth in the prime inner-city suburbs.
That old furphy is usually stated as a self-evident truth without supporting evidence, or with a few cherry-picked examples that appear to back the theory.
The truth is, superior long-term growth can be found in all manner of places. The key elements driving growth seldom relate to proximity to an icon, like the Sydney CBD.
You’re just as likely to find outstanding growth rates in middle-ring suburbs, the affordable outer-ring areas and in selected regional centres, while some iconic locations have poor growth rates (Surfers Paradise being a standout example).
Cheaper areas often shine because they attract the great mass of buyer demand, thanks to their affordability.
Following four years of strong price growth in Sydney, most suburbs have attractive long-term growth rates (average annual growth in median prices over 10 years), despite Sydney’s below-par performance between 2003 and 2013.
Many now have long-term capital growth averages above 10 percent a year. And the top performers are widely spread across the Sydney metropolitan area.
Inner-city Burwood (median price $2 million) has the same long-term growth rate (10.4 percent per year) as Busby ($640,000), which is out west near Liverpool.
Balmain ($2.17 million) and Canley Vale ($820,000) both have growth rates around 10 percent per year.
Emerton, out west near Blacktown with a median price of $540,000, has a slightly better capital growth rate (10.5 percent) than Eastwood, with a median of $1.87 million (10.2 percent).
Seriously upmarket Mosman (median $3.87 million), has a modest growth average of 6.2 percent, whereas Lethbridge Park (median $520,000) has averaged 10.2 percent, despite its downmarket image and location (part of the City of Blacktown).
St Marys ($660,000), near Penrith, and nearby Tregear ($505,000), have growth rates above 10 percent per year, on a par with Rose Bay ($4.1 million) and considerably better than Gordon ($2.5 million), where growth has averaged 7.6 percent per year.
Islington ($670,000), a suburb of Newcastle, is equal to Hurstville ($1.6 million) in Sydney’s south.
Having some kind of stigma is no barrier to good capital growth.
So it doesn’t surprise me to see new research which refutes one of the most cherished beliefs in real estate – that areas with high crime rates have inferior capital growth.
The report shows that affordable areas attract strong demand, generating above-average price growth, regardless of the local crime statistics. This is particularly so if a cheaper area is undergoing gentrification.
According to RiskWise Property Research, housing in high-crime areas across Australia is outperforming the general property market. This correlates with Hotspotting analysis which shows that low-priced locations, including those stigmatised as “problem” areas, often have strong capital growth.
“The research house discovered high-crime areas, despite expectations, are trumping their safer neighbouring suburbs when comparing their five-year growth to the city’s median,” says RiskWise CEO Doron Peleg.
He says investors commonly attribute too much weight to crime figures and should more objectively analyse the financial risks when making property investment decisions. 
“Our nationwide research actually found gentrifying suburbs with high crime typically deliver strong price growth and outperform the local benchmark. 
“We found affordable high-crime areas with significant gentrification are likely to produce strong price growth, particularly when dwelling prices in the inner and middle rings are unaffordable.” 
In Melbourne, some suburbs significantly outperformed the market. Frankston North, a notable downmarket suburb in the far south-east, delivered growth of 102% over the past five years. 
“Our research shows that suburbs like Frankston North are not outliers and similar results can be found in each of the major cities,” Peleg says. 
“Busby in the western suburbs of Sydney is another example. This suburb consistently endured some of the highest gun violence rates across the city, yet it delivered growth above the median for Greater Sydney.” 
In Sydney, eight of the Top 10 high-crime areas outperformed the market due to very strong demand from owner-occupiers and investors for affordable properties. 
“Together, these high-crime Sydney suburbs delivered outstanding five-year growth of 87% for houses and 65% for units, outperforming the Sydney price growth benchmark,” he says. 
“Brisbane and Gold Coast high-crime areas also typically outperformed the market.” 
While price growth in Adelaide and Perth was below the local benchmark, high-crime areas undergoing significant gentrification delivered strong growth. For example, Prospect in Adelaide outperformed the local housing market with 26% median price increase over the past five years. 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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Sydney's cheaper suburbs are outperforming the upmarket areas for price growth: Hotspotting's Terry Ryder

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Research on price growth over time often contradics long-held beliefs about where you get the best growth.
Information put together recently by PIPA found that Hobart had achieved the highest percentage growth in house prices among the capital cities over the past 15 years, while Sydney had recorded the lowest growth.
There are similarly surprising outcomes from publication by CoreLogic of the growth in various jurisdictions across Australia in the four most recent five-year periods.
One of the things this shows is that, overall, the past five years have been quite tame for growth in house prices.
Media has often referred in the past few years to an unprecedented national property boom, but I have maintained that we have not had a national boom and the growth recorded in the places with strong markets, such as Sydney and Melbourne, has been far from unprecedented.
These CoreLogic figures would tend to confirm that. They examine the five-year periods up to January in each of 2003, 2008, 2013 and 2018.
In terms of national average price growth, the five-year period to January 2003 was the most prolific, by a considerable margin. Values (national average) grew 62 percent in the five years to 2003, while in the five years to January 2018 the growth was just 38 percent. The five-year period up to 2008 (national rise of 44 percent) was also higher than the most recent period.
There were all kinds of regional differences within each of those five-year periods, reinforcing once again that we do not have a single national market, but many different local markets.
In the five years up to 2003, which was the last time we had a genuine national property boom, the combined capitals grew 64 percent and the combined rest of state (the regional areas) rose 54 percent. But the leading jurisdiction in the nation for that period was Regional NSW, which rose 84 percent, followed by Canberra (up 79 percent) and Regional Victoria (up 66 percent).
Five of the capital cities grew more than 55 percent in that period, while Perth rose 46 percent and Hobart was up 38 percent. Everywhere in Australia, both city and regional, showed some kind of meaningful growth.
In the five years to 2008, regional areas were dominant, with the combined regional areas up 53 percent while the capital cities increased only 42 percent.
This was a period when Western Australia was the leading market in the nation, with Regional WA up 121 percent in five years - mostly resources centres like Port Hedland and Karratha, as well as lifestyle towns like Mandurah, recording extraordinary growth. The Perth market rose 102 percent in that period.
That was also the time frame in which Tasmania caught the boom wave from the mainland (rather similar to Tasmania right now), with Hobart (up 75 percent) the No.2 city for growth after Perth, while Regional Tasmania grew 89 percent. 
The regional areas of Queensland and the Northern Territory also had substantial price rises in that five-year period.
Meanwhile, in those five years to 2008, Sydney rose only 12 percent. It was mediocre also during the next five-year period, up to 2013, growing just 9 percent over five years. This is why Sydney ranked eighth and last among the capital cities in the 15-year capital growth figures published by PIPA.
Overall, that five-year period up to 2013 was the weakest nationally in recent times. The only place that showed much uplift during that time was the Northern Territory, with Darwin up 32 percent and Regional NT up 38 percent.
At that time, prices were going backwards in Brisbane, Perth, Hobart and a number of regional areas.
Then, in the most recent five-year stanza, Sydney rose 64 percent and Melbourne 56 percent. To put into perspective, remember that leading markets in the five years to 2008 grew more than 100 percent and the national leaders in the five years to 2003 increased 79-84 percent.
The only other places to show much uplift in the past five years were Regional NSW (up 38 percent) and Hobart, which started to show the beginnings of its current boom 12-18 months ago.
In this latest five years, prices went backwards in Perth and Regional WA, as well as in Darwin (whicb dropped 20 percent ) and Regional NT.
Overall, the figures confirm that we have many different markets in Australia and that, at any given point in time, they are not all moving in the same direction or at the same speed.
And that, contrary to popular belief, the major cities do not always out-perform the smaller cities or the regional areas. 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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Five year periods actually show tame house price growth: Terry Ryder

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I’ve been tipping recovery in the Perth market in the past six months and now we are seeing the first signs of a return to price growth in some sectors. 
Several research sources still have the Perth market overall in slightly negative territory in terms of price movements, but my latest analysis for the Price Predictor Index shows that there is price growth in the upper end of the Perth market. 
When city markets are at the early phase of a growth cycle, the upmarket suburbs are often the first to show growth (and it ripples out later to the middle market and then to the cheaper areas).
That’s what happened in recent years in firstly Sydney and later in Melbourne.
Now the latest price data is showing the beginnings of something meaningful in Perth, which has numerous suburbs with median house prices above $1 million.
That top end market has seen growth in their median prices in the past three months and in annual terms also. 
This trend is widespread across the Perth prestige market. Suburbs with rising prices include Nedlands, Claremont, Applecross, Shelley, Cottesloe, Dalkeith, Mosman Park, Trigg and Floreat. 
All have median house prices above $1 million, while Dalkeith and Cottesloe are both above $2 million.
The latest price growth data from CoreLogic finds double-digit annual growth in median prices in most of those suburbs. 
In fact, the median price growth data has Cottesloe, Daglish, Dalkeith and Shelley all growing more than 20 percent in the past year, with a big chunk of that growth occurring in the most recent quarter.
This is a little misleading because it doesn’t mean property values are growing to that degree. It’s simply a product of the vagaries of median prices, which can be particularly volatile in those top-end markets where a few big-ticket sales than skew the data.
But valuers and buyers agents I spoke to during a visit to Perth last week confirmed that values are up 10 percent (ish) in many of the million-dollar suburbs.
Confidence that the upturn is sustainable comes from revival in the state’s economy, especially in the mining sector, and the large numbers of jobs being created. As the WA economy improves, businesses thrive and business people become more confident in their real estate purchases.
According to the WA Chamber of Commerce and Industry biannual review, the WA economy is rebounding, will grow this year and should start delivering a better jobs market and higher wages.
The report is supported by separate research by the ANZ that suggests the WA economy is back among the fastest-growing in the country. CCI chief economist Rick Newnham says the slowdown in the state - that previously hit the jobs market, property prices and confidence - has come to an end. 
The drop in business investment from the peak of the resources boom has also run its course. One symptom is that spending on gold exploration in WA climbed to its highest level on record in 2017. 
We’re now seeing evidence of those stronger economic prospects playing out in improvements in the Perth property market, notably in the top end suburbs.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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