Too often, heritage buildings become the podium for a contemporary tower. At <a href="https://www.apartments.com.au/new-apartments/623-collins-607-623-collins-street-melbourne-vic-3000">623 Collins</a>, <a>Sterling Global</a> challenged its design team to reverse that process.

The brief to <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> was deliberately simple: "Don't design around the heritage. Design from it." It became the philosophy behind a project that draws inspiration not only from two landmark heritage buildings, but from Collins Street itself, a street layered with architectural history and civic significance.

That philosophy has shaped one of <a href="https://www.apartments.com.au/developments/melbourne-vic-3000">Melbourne</a> CBD's most considered residential projects, where the 1924 State Savings Bank and neighbouring Batman's Hill Hotel have become the architectural foundation for 623 Collins rather than remnants preserved beneath a new development.

[smartcode_project:default project_id=145324 project_image_fid=372749]

Rather than approaching the site as a blank canvas, <a href="https://www.apartments.com.au/developers/sterling-global">Sterling Global</a> saw the existing buildings as the beginning of the story.

"Sites like this rarely become available," the developer said.

"623 Collins wasn't simply an opportunity to develop a prominent CBD site. It was an opportunity to restore and reimagine one of Melbourne's important heritage landmarks while contributing to the continued evolution of Collins Street. For us, the existing buildings weren't constraints. They were the beginning of the story."

Instead of mimicking the ornate heritage architecture, Plus Studio studied the proportions, rhythm and craftsmanship of the original buildings before translating those characteristics into a contemporary 42-storey tower.

[smartcode_project:default project_id=145324 project_image_fid=372748]

"The brief challenged us to create a contemporary landmark that respected Melbourne's architectural history without becoming nostalgic," Plus Studio said.

"Rather than mimicking heritage, we sought to understand its proportions, rhythm and material language before translating those qualities into a distinctly contemporary architectural expression."

The practice says the State Savings Bank and Batman's Hill Hotel became the project's primary source of inspiration, allowing the heritage buildings and contemporary architecture to exist "in conversation rather than contrast." Generous planted terraces further soften the transition between old and new, creating elevated green spaces while reinforcing the dialogue between the restored podium and the contemporary tower.

That dialogue continues throughout the interiors, where Melbourne designer Fiona Lynch developed a material palette inspired by the idea of alchemy, balancing contrasting materials that reference both the Neo-Grec detailing of the original bank and contemporary urban living. The result is a series of spaces that feel timeless rather than trend-driven.

[smartcode_project:default project_id=145324 project_image_fid=354343]

The project will deliver 316 residences across four collections, Heirloom, Signature, Reserve and the Penthouse Collection, with each responding differently to its position within the building, from the restored heritage podium through to the upper levels of the tower. The Heirloom Residences retain defining heritage elements including original heritage windows, generous proportions and high ceilings, while the tower introduces contemporary homes with expansive layouts and elevated views.

Amenities have likewise been designed to support long-term city living rather than short-stay convenience. Residents will have access to concierge services, wellness facilities including a pool, cold plunge, sauna, steam room and gym, alongside private lounges, entertaining spaces and dedicated resident clubs.

Sterling Global says that approach is resonating with buyers seeking permanence rather than novelty.

[smartcode_project:default project_id=145324 project_image_fid=354347]

According to the sales team, purchasers are looking for enduring architecture, generous floorplans, heritage character and long-term value, with many commenting that 623 Collins "doesn't feel like another apartment development" because of the way the architecture has been curated around the site's history.

Situated on the prominent corner of Collins and Spencer streets, the project occupies one of Melbourne's most recognisable gateway sites, marking the western entrance to the city's best-known street. For Sterling Global, it also reflects a broader shift in city-making.

"Rather than maximising development yield, the project embraces adaptive reuse as a design philosophy, allowing heritage to inform architecture, interiors and the overall resident experience," the developer said.

"The result is a building that feels uniquely connected to Melbourne."

[smartcode_project_cta:default project_id=145324]

Joel Robinson

How Sterling Global designed 623 Collins from Melbourne's history

Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

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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I can’t ever remember seeing as many conflicting reports on the state of the Australian economy as we are seeing at the moment.
Maybe in 23 days time when the outcome of the federal election is known we may be in a better position to get a true reading on exactly what is happening or to that extent where our economy is headed. At this juncture in time it’s anyone’s guess depending on your political persuasion.
Just over a week ago the Reserve Bank of Australia (RBA) singlehandedly attempted to steady the economy when they dropped the cash rate to a record low of 2.5%.
Only history will be the judge as to whether this decision was the right or wrong way to go – albeit already we are seeing some very scary symptoms emerging with the property markets. 
<a target="_blank" href="https://www.propertyobserver.com.au/news/sydney-secures-its-sixth-80-plus-weekend-auction-success-rate-sort-of/2013081764295?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus" title="Sydney auctions in 80% plus overdrive for fifth consecutive weekend ">Sydney auctions in 80% plus overdrive for sixth consecutive weekend </a>where it should be noted that previously it has been acknowledged that when clearance rates hit 80% plus, the markets are in what is known as a technical boom.
This time around it appears that it is the lower end markets participating in this buyer frenzy, with the top end markets not seeing anywhere near the same excitement.
Just look at this week’s <a target="_blank" href="https://www.rwm.com.au/news/" title="Mosman and Neutral Bay Sales Watch">Mosman and Neutral Bay Sales Watch</a> which hardly suggests that our demographic markets are actually booming.
In some ways I agree with Robert Gottliebsen’s comments in Business Spectator this week "<a target="_blank" href="https://www.propertyobserver.com.au/news/robert-gottliebsen-forecasts-mother-of-all-dwelling-booms-driven-by-property-investors/2013081864307?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=news" title="Beware of the mother of all housing booms.">Beware of the mother of all housing booms</a>":
<a target="_blank" href="https://www.businessspectator.com.au/article/2013/8/13/economy/beware-mother-all-housing-booms" title="Beware of the mother of all housing booms."></a>“If we are not very careful Australia is going to have the mother of all dwelling booms. What we are seeing is a three – pronged boost to prices. First is a dramatic push to lift the demand for dwellings by banks offering cut mortgage rates thanks to the Reserve Bank Governor Glenn Stevens. But second, and just as importantly, there is reluctance by banks to fund new supply. In any commodity if you inflate demand and squeeze supply, prices go through the roof. Thirdly taxpayers will subsidise the boom via a massive increase in the use of negative gearing via both personal and superannuation tax breaks.”
Again it should be noted that investors (in the vast majority of instances) only invest within the lower end of the market so we don’t expect to see this resonate through to the top – end markets. BIS Shrapnels' Angie Zigomanis said that <a target="_blank" href="https://www.propertyobserver.com.au/new-south-wales/rental-and-price-growth-to-drive-more-investors-to-sydney-inner-city-apartment-market-bis-shrapnel-s-angie-zigomanis/2013072363162">rental and price growth will drive more investors to Sydney inner city apartment market.</a>
<a href="https://www.rwm.com.au/files/2013/08/10-08-2013-11-51-00-AM.jpg"><img height="321" width="470" src="https://www.rwm.com.au/files/2013/08/10-08-2013-11-51-00-AM.jpg" alt="10-08-2013 11-51-00 AM"></a>
Which then permits the next school of thought to enter the property debate.
As <a target="_blank" href="https://www.theage.com.au/business/china-slowdown-threat-to-house-prices-sp-20130813-2rtur" title="China slowdown threat to house prices: S&amp;P">China's slowdown poses a threat to house prices</a>, Australia’s banks’ credit ratings would be cut by up to two notches and house prices would fall by 25% if China’s economy were to slow sharply, Standard &amp; Poor’s says.
Well that could be true to an extent although I would also add that presently certain Australian property markets are experiencing unprecedented investor action.
Having said that Australia’s four major banks currently hold 80% of Australia’s banking assets and a staggering 88% of residential mortgages.
In the meantime <a target="_blank" href="https://www.propertyobserver.com.au/news/lower-bad-debts-and-stronger-profit-margins-on-loans-trigger-cba-s-record-%2478-billion-profit/2013081464201">lower bad debts and stronger profit margins on loans trigger CBA’s record $7.8 billion profit</a> – just take a look at how the CBA has performed since the Global Financial Crisis:
<a href="https://www.rwm.com.au/files/2013/08/14-08-2013-2-23-32-PM.jpg"><img height="263" width="470" src="https://www.rwm.com.au/files/2013/08/14-08-2013-2-23-32-PM.jpg" alt="14-08-2013 2-23-32 PM"></a>
Now take a look at <a target="_blank" href="https://www.theage.com.au/business/investors-are-bracing-but-iron-ore-price-stays-steady-20130811-2rq7z" title="investors bracing, but iron ore price stays steady">investors bracing, but iron ore price stays steady</a> this time last year the iron ore price was in a dramatic free fall hitting a September low of $US86.70 ($94.10).
The iron ore price has been creeping higher since late June, and spent most of last week in a positive trajectory towards $US133.10 ($144.45) per tonne; a very comfortable price for most Australian miners, made even better by the local currency trading well below parity.
<a href="https://www.rwm.com.au/files/2013/08/12-08-2013-9-43-11-AM.jpg"><img height="253" width="470" src="https://www.rwm.com.au/files/2013/08/12-08-2013-9-43-11-AM.jpg" alt="12-08-2013 9-43-11 AM"></a>
 
<hr class="system-pagebreak">
But wait, there’s more, a <a target="_blank" href="https://www.propertyobserver.com.au/land/new-home-building-recovery-at-risk-of-running-out-of-steam-hia/2013081364196">new home building recovery is at risk of running out of steam</a>, according to the HIA.
HIA estimates housing starts rose 8.3% last financial year to 157,108 following two consecutive years of decline.
Yes, decline, so it is hardly neither likely nor credible that we will see any sort of property crash. After all if we were going to see the mother of property collapses we would have as a result of the GFC which turned out to be a correction not a crash. Then again some will no doubt argue this was in fact a crash.
Whilst on crashes the only crashes we have seen of late within our Mosman, Cremorne and Neutral Bay real estate markets has been a crash in volumes not prices.
For the very first time in 13 years of Virtual Realty News we missed a couple of editions when I was overseas so let’s catch – up.
On July 12 Mosman recorded its lowest ever number of houses on the market at 59, which then moved to 64, 68, 76, 88 and this week 85.
Apartments went from 61, 62, 68, and 62 to 59 this week.
In Cremorne houses went from 7, 5, 6, 8, 7 to 3 this week – the lowest ever number.Cremorne apartments recorded 15, 18, 17, 18, and 20 to 17 this week.
Neutral Bay houses 5, 7, 8, 11, 12 and 11 this week. Neutral Bay apartments 34, 28, 26, 28, 34 to 30 this week.
MOSMAN – 2088
• Number of houses on the market this time 2012 – 89
• Number of houses on the market last week – 88
.Number of houses on the market this week – 85
• Number of apartments on the market this time 2012 – 85
• Number of apartments on the market last week – 62
.Number of apartments on the market this week – 59
CREMORNE – 2090
• Number of houses on the market this time 2012 – 12
• Number of houses on the market last week – 7
.Number of houses on the market this week – 3
• Number of apartments on the market this time 2012 – 15
• Number of apartments on the market last week – 20
.Number of apartments on the market this week – 17
NEUTRAL BAY – 2089
• Number of houses on the market this time 2012 – 15
• Number of houses on the market last week – 12
.Number of houses on the market this week – 11
• Number of apartments on the market this time 2012 – 46
• Number of apartments on the market last week – 34
• Number of apartments on the market this week – 30
Source: Australian Property Monitors
<a href="https://www.rwm.com.au/files/2013/08/15-08-2013-4-27-07-PM.jpg"><img height="269" width="470" src="https://www.rwm.com.au/files/2013/08/15-08-2013-4-27-07-PM.jpg" alt="15-08-2013 4-27-07 PM"></a>


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Robert Simeon is a director of <a title="RWM" href="https://www.rwm.com.au/" rel="nofollow" target="_blank">Richardson  Wrench Mosman and Neutral Bay </a>and has been selling residential real estate in Sydney since 1985. He has also been writing real estate blog <a title="Virtual Realty News" href="https://www.rwm.com.au/news/" rel="nofollow" target="_blank">Virtual Realty News</a> since 2000. The RWM real estate model has sold in excess of $1 billion in database sales globally.
 
 
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Despite Sydney's auction clearance rates, the demographics are not booming: Robert Simeon

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The legendary Easybeats band member, Harry Vanda is selling his Rose Bay harbourfront home after three decades and its already, not-unexpectedly, attracting Chinese buying interest.
<a href="https://www.richs.com.au/properties/residential/House-NSW-Rose+Bay-114853927" target="_blank">It comes with hopes of $20 million plus</a>.
He bought the 830 square metre Bayview Hill Road property in early 1983 for $667,500 with his wife, Robyn and then built the five-bedroom, four-bathroom brick house.
It was bought from Dr Peter Duke and his wife, Meryl.
The three level, dress circle property has been listed through Paul Rich of Rich's Double Bay.
"It's wonderful opportunity to secure an exceptional waterfront home situated in a magnificent internationally recognised position," he said of its postcard perfect view towards the Sydney Harbour Bridge and Opera House.
It had been listed last October through McGrath Estate Agents who didn't find a buyer. 
Mystery still surrounds the nearby sale earlier this year by the veteran technology investor Neill Miller for a rumoured $30 million on extended settlement terms.
There was no public marketing of the contemporary Rose Bay abode built on the harbourfront reserve location at the base of the steep cul-de-sac sandwiched between the Kambala and Kincoppal-Rose Bay schools.
The land was bought for $7.75 million in 2002 along with a $3 million acquistion in 2005 of a portion hived off from Sacred Heart convent land holdings.
Their dress circle property is close to the $15 million sale recorded last year when the Anne Lewis harbourfront house through Ken Jacobs of Christie's International inconjunction with Andrew Livingston of McGrath. 
Harry Vanda and business partner George Young are credited as among the most important members in the Australian music industry - initially as the songwriters of the Australian band of the 1960s, the Easybeats and then in the 1970s behind the success of the likes of John Paul Young, Stevie Wright, the Angels and AC/DC.
The Easybeats song, Friday on My Mind was voted the best Australian song of all time at the 2001 Australasian Performing Rights Association awards.
 
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Muso Harry Vanda lists $20 million Rose Bay harbourfront

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Chapel Street has regained favour with retailers after a quiet leasing period, according to real estate agents Fitzroys.
Fitzroys City retail team leasing executive Michael Rainey said there has been a resurgence in enquiries for spaces along Chapel Street, South Yarra, Prahran and Windsor, led by high-quality fast-food and fashion operators.
“Chapel Street is quickly becoming a fast food destination with recent deals done with Mexican restaurant Fonda at 144 Chapel Street, Windsor, and the popular American ice creamery Ben &amp; Jerry’s, opening their first Melbourne store at 151 Chapel Street, Windsor,” he said.
The increase in enquiry from food operators has typically been in the slightly lower rental pockets, such as Vietnamese restaurant Miss Chu opening up a site at 276 Toorak Road, South Yarra.
<img alt="south-yarra-retail-aug-21-two" height="314" width="470" src="/images/stories/2013/08/south-yarra-retail-aug-21-two.jpg">
Other retailers moving into Chapel Street include American hot-dog specialist Massive Wieners expanding into 226 Chapel Street, with plans for 24-hour operation.
Fitzroys city retail has also overseen French macaron manufacturer A La Folie move into 589 Chapel Street, and fast-growing health juice operator Press Juices has taken up Shop 4, 286 Toorak Road, South Yarra.
International Chinese tea retailer Quali-T has leased 173 Toorak Road.
Mexican concept chain Zambrero’s has also recently taken up 374 Chapel Street, South Yarra, with the organisation matching their meals served with donations to their own charity.
In the Prahran area, Fitzroys has overseen UK menswear retailer Peter Werth move into 216 Chapel Street, and Cotswald Furniture is opening in High Street.
Rainey said the Peter Werth deal followed an increase in the number of fashion operators taking space in the edgier section of Chapel Street in recent years. Popular brands Jack London, Gorman, White Suede and Dangerfield have all taken up space in the area.
Rainey added that South Yarra was showing once-in-a-generation opportunities for retailers to look beyond the cycle and secure high quality shops on long-term leases that have not been available for decades.
<img alt="south-yarra-retail-aug-21-one" height="314" width="470" src="/images/stories/2013/08/south-yarra-retail-aug-21-one.jpg">
“Landlords are meeting the market where required and the resurgence in enquiry over the past few weeks and months should see most stock leased within a short time frame.”
“The fundamentals of the strip remain quite healthy.”
He said rents on Chapel Street typically ranged from $1,000 to $1,500 per sqm, and Toorak Road from around $600 to $800 per sqm.
The South Yarra end has been working through rental adjustments from the highs of 2007/08, perhaps to the benefit of the Prahran and Windsor parts of the strips, which have seen some new retail faces with leases to IGA and a major bar and restaurant soon to be announced.
Fitzroys senior manager Charles Emmett said many of these groups were gearing up to serve the surge in local population attributable to the high volume of apartments going up in Forrest Hill, as well as the old warehouse sections to the back of Chapel Street, South Yarra and Prahran.
He said rents in the Prahran section of Chapel Street were currently between $700 and $900 per sqm.
Fitzroys’s city retail team is now leasing the former Bettina Liano shop at 471 Chapel Street, South Yarra, as well as the ex-Puma site at 514 Chapel Street, South Yarra.
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Chapel Street regains retail interest: Fitzroys

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Selling in winter made a lot of sense this year, but the emerging big jump in auction numbers will shortly test the depth of the market place.
There are plenty of early birds putting their properties to auction on Saturday August 31, 2013.
Sydney has a record 500 plus vendors jumping in before spring officially starts and Melbourne has 700 plus vendors over the next two weekends, according to Australian Property Monitors.
Especially in Sydney, these numbers are substantially higher than in any recent year, with Property Obverver tracking back to winter 2008.
On the last Saturday of winter 2012 there were 300 auction offerings in Sydney and 520 in Melbourne.
On the last winter Saturday in 2011 there were 375 auctions in Sydney and 560 in Melbourne.
In 2010 there were 430 in Sydney, and with Melbourne then an auction powerhouse there were 720 offerings in Melbourne on that last August Saturday in 2010.
Sydney had 300 and Melbourne 650 listings on August 29, 2009.
Sydney had 300 and Melbourne 550 listings on August 30, 2008.  
The August 31, 2013 push is, in part, a reaction of vendors seeking to avoid the clash with the September 7 federal election.
September, while the official start to the spring selling season, is a tricky month given there are the interuptions of the grand final weekend, especially in Melbourne, and also school holidays. 
So yes the winter property season does bring a new set of challenges for both buyers and sellers. But winter can still present terrific opportunities to sell. And the season doesn't stop plenty of people out there looking for homes to live in.
It was mid-June this year when the sage John McGrath suggested the selling climate was "as good now as it was in autumn or will be in spring."
He was certainly spot on about the ensuing two months. But I'm not convinced will he necessarily be as right about the tail end of this spring?
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Selling in winter made a lot of sense this year

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Lawyer Elisa Robinson and husband Scott have listed their Richmond home for August 31 auction.
Located at 11 Gough Place, the three-bedroom home is listed with a $870,000 plus price guide.
The property features a corian stone kitchen, polished floorboards and a private deck.
It is listed with Elliot Gill and Jodie McCarthy of J<a href="https://www.jelliscraig.com.au/index.cfm?objectid=6F101E48-D453-ADC5-E012FA57B54C1023&amp;pid=20082#.Ug112uBAt6o" target="_blank">ellis Craig Bennison Mackinnon.</a>
The median house price in <a href="/news">Richmond</a> is $769,000, a 10.6% change in five years, according to RP Data.
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Lawyer Elisa Robinson and husband Scott have Richmond home for August auction.

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The Melbourne corporate lawyer Guy Jalland has bought a slice of the Oxley Bushells tea, Darling Point family estate on the Darling Point harbourfront.
Around $8.75 million was secured for the property last traded in the 1970s as one of three houses bought around their historic holding, Carthona.
The two-storey house comes with four bedrooms, an office and three Art Deco bathrooms.
It sits on a 1,087-square-metre Sutherland Crescent block, having been built in the 1930s. It retains terrazzo finishes, curved feature windows and solid-timber joinery. Its lounge, dining and family areas take advantage of the harbour views. There is also an interior courtyard.
Its garaging once made the headlines given its distinctive Glenn Murcutt style. Murcutt also undertook some alterations to the house during the late 1980s.
Guy Jalland has been a longtime adviser to James Packer including being general counsel of Publishing &amp; Broadcasting Limited from 2004 to 2007.
He has also been a director of the Melbourne Football Club until his July 2013 resignation.
Jalland recently sold his Dawes Point, Sydney apartment for $3.05 million through McGrath Estate Agents. It was bought in 2009 for $2.3 million from the McCuaig family.
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Corporate lawyer Guy Jalland buys $8.75 million Darling Point harbourfront

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ANZ Banking Group has posted a cash profit of $4.8 billion for the first nine months of the financial year, up 11%, but it says revenue growth was slower than last year.
Revenue rose 5% in the nine months to June 30 while expenses fell 0.5% and provisions for bad debts fell 2%. This helped mitigate a squeeze on lending profit margins caused by low interest rates.
It reported unaudited statutory profit increased 7% to $4.7 billion, from the same period last year.
The growth was largely put down to its expansion in Asia and tightening of costs.
"During the year we have continued to make steady progress with out super regional strategy," chief executive Mike Smith said in a statement.
“We have produced consistent revenue growth with diversification benefits from our exposure to growth markets in Australia and in Asia.
At the same time, we are continuing to actively manage efficiency in every area of the business with a focus on improving productivity and capital utilisation.
He says consumer confidence should increase in the coming months while he played down concerns about China's growth.
"Although the economic outlook in Australia has softened somewhat, there is cause for greater optimism in the medium term as the effect of lower interest rates, a more competitive currency and the removal of some pre-election uncertainty underpin consumer confidence and economic activity."
"In Asia, we believe concerns about growth in China have been overdone. Although there is a rebalancing taking palce in China and there may be volatility associated with this, we need to remember that the world's second largest economy is still growing at around 7 to 7.5%."
In Australia ANZ said there is good momentum in commercial lending and deposits as well as in retail mortgage and deposits while household lending has grown above system for 14 consecutive quarters.
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ANZ posts $4.8 billion profit

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Property lecturer Peter Koulizos forecasts that all capital cities, with the possible exception of Hobart, should have new record high property prices sometime during 2014.
Australian Bureau of Statistics data shows property prices are on the rise from their global financial crisis lows but Koulizos says we still have some time to go.
 “Even though all capital city prices are on the way up, not all property prices are above their previous high. Sydney, Perth and Darwin have record high property prices but all the other capital cities still have a little way to go before they pass their previous peak,” he blogged on API Magazine.
“I forecast that all capital cities, with the possible exception of Hobart, should have new record high property prices sometime during 2014.
“Yes, the worst is over but in my opinion we still have a little way to go before we can all breathe a sigh of relief.”
But he says historically low interest rates will ensure property prices should bounce back quickly.
According to the ABS the different capital cities experienced their global financial crisis lows at different times.
Darwin was the first hit in June 2011 quarter, followed by Canberra and Perth in September 2011 quarter. Next was Sydney in the December 2011 quarter. Brisbane was next hit in the June 2012 quarter, followed by Melbourne and Adelaide in the September 2012 quarter and finally Hobart in the December 2012 quarter.
 Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/08/abs-chart-aug-13-large.gif" rel="shadowbox"><img src="/images/stories/2013/08/abs-chart-aug-13-small.gif"></a>
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Property prices to return to pre-GFC highs in 2014, except Hobart: Peter Koulizos

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Will our property markets blossom this spring or will the federal election keep a lid on confidence?
Well, the election result will be known very soon, confidence will be rising, interest rates will remain low and affordability will be the best for many years. All this suggests we’re in for some good times, so it’s probably opportune to do a whip-round Australia and see how property is performing. 
What the stats show: Our capital city housing markets bottomed out around May last year and RP Data <a target="_blank" href="https://www.rpdata.com/research/housing_values_continue_to_move_higher_in_july">reported</a> that capital city dwelling values rose in all capital cities other than Hobart over the last year. Not surprisingly, once again our capital cities significantly outperformed regional property markets.
 <img alt="yards-aug-15-chart-small" src="/images/stories/2013/08/yards-aug-15-chart-small.gif" width="470" height="194">
Source: RPData
House prices are rising in part because Australia's permanent population jumped by close to 400,000 people last year – that's enough people to populate a city the size of Canberra or Newcastle. That along with rising consumer confidence and lower interest rates means higher housing demand, more construction, better job prospects and a boost to our economy.
What these big picture figures don’t show is how fragmented our markets are with different states, different price points and different types of properties behaving differently.
Major property markets in a little more detail:
 Sydney: Median house price: $645,000; 7.3% increase in last 12 months. Median unit price: $500,000; 3.2% increase in last 12 months. Vacancy Rate: 1.9%
The Sydney market continued to perform strongly with house prices now at record levels, and it’s likely that prices will continue climbing.
The Harbour City market is strong because jobs are being created there. In fact half the new jobs created in Australia last year were in New South Wales and most in Sydney.
While first home buyers are still sitting on the sidelines, and the top end of the market is still suffering from an oversupply of property relative to the reduced demand, gentrified suburbs within close proximity to the city, transport, amenities and infrastructure are performing well.
In particular, well-located apartments in the inner western suburbs and Sydney’s eastern suburbs are being snapped up by investors and owner occupiers at hotly contested auctions, according to George Raptis, director of <a target="_blank" href="https://www.sydneybuyersagent.com.au/">Metropole Property Strategists in Sydney</a>.
“The high auction clearance rates we’ve experienced over the last few months are a sign of how strong certain segments of the market are. In particular, investors are actively chasing well-located properties attracted by high yields and the prospects of strong capital growth. With 21% less stock on the market for sale than 12 months ago and a shortage of good quality properties amongst those properties for sale, I can see Sydney prices continuing to rise,” says Raptis.
 
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Melbourne: Median house price: $530,000; 4.4% increase in last 12 months. Median unit price: $435,000; 3.1% increase in last 12 months. Vacancy Rate: 2.9%
Melbourne has been the surprise performer over the last year, but different segments of the Melbourne housing market are at different stages of the property cycle.
While there is still an oversupply of property at the top end, there is more competition for properties in the middle range of the market where there is a shortage of well-located properties. This has been evident in strong auction clearance rates this year – usually in the 70% range – while this time last year it was in the 50% range.
But there are some segments of the Melbourne property market to avoid.
“There is a significant oversupply of newly built house-and-land packages in Melbourne’s outer northern and western suburbs where buyers are showing a preference for two to three-year-old homes which can be bought considerably cheaper than new stock” said Keith Franklin, of <a target="_blank" href="https://www.melbournebuyersagent.com.au/">Metropole Property Strategists in Melbourne</a>,
“There is also an oversupply of inner-city CBD apartments and there are many more apartments coming on stream in the next few years at a time when there is less demand from the tenant demographic that rents in the CBD,” adds Franklin.
“Currently, there are some good investment opportunities buying established apartments in Melbourne’s southern or eastern suburbs and adding value through renovations” he says.
Brisbane: Median house price: $450,000; 1.0% increase in last 12 months. Median unit price: $373,500; -0.3% decrease in last 12 months. Vacancy Rate: 2.1%
House prices in Brisbane started to turn last year but have only risen 1.7% from their lowest point. This is in part because Brisbane’s economy is struggling to recover from the significant job-shedding of last year.
Having said that, there’s not one Brisbane market – there are many individual markets and these markets are fragmented.
While buyer activity in Brisbane’s outer suburbs remains subdued, sales of homes in inner-ring established suburbs continue to show signs of improvement. Houses are starting to sell faster and the number of property transactions is 13% higher than last year – all signs the market has bottomed
Prices are still falling in Ipswich (-3.2) and Caboolture (-6.1%), while Logan and Redlands regions are exhibiting minimal growth, but there are good investment opportunities buying a home on a good block of land in Brisbane’s inner and south-east inner suburbs which have had stronger growth and a resurgence of buyer activity.
 
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Perth: Median house price: $510,000; 8.8% increase in last 12 months. Median unit price: $415,000; 1.6% decrease in last 12 months. Vacancy Rate: 1.5%
The Perth housing market continues to rise on the back of a strong local economy, record levels of interstate migration into Western Australia, increasing confidence and strong buyer activity.
According to Damian Collins director of <a target="_blank" href="https://www.momentumwealth.com.au/">Momentum Wealth</a>:
“The activity is still concentrated around the median price, with many first home buyers still active and competing against investors for properties under $500,000.
“With around 9000 properties for sale this is below what is considered to be a balanced market. Our buyer agents are seeing this on the ground, with multiple offers on a number of properties. The low interest rates and high rental prices have encouraged many people to move from the rental market into home ownership and we have seen a subsequent increase in rental vacancy rates, where the vacancy rate has increased to over 3% and rents have declined slightly. The higher prices and lower rents have meant that the average yield for investors has come back to around 5%.
“There have been some significant changes to the residential planning codes in Perth.
“From August 2, ancillary accommodation, commonly known as “granny flats”, can now be built and rented separately. This is a strong opportunity for investors to increase their rental returns with an average yield on a separately rented house and granny flat likely to be over 7% in quality areas within 15kms of the CBD.
“Also the changes to the residential planning codes have further increased development opportunities for apartments and there are currently strong margins on development projects.
“Overall the Perth market is still in growth mode, however, with the recent run up in prices and lower rents, we expect market growth to be at a slower rate, but still strong opportunities in some areas. Investors need to be selective in their property choices and consider opportunities to create their own growth through renovations and development.”
Adelaide: Median house price: $395,000; 1.7% increase in last 12 months. Median unit price: $332,500; 5% decrease in last 12 months. Vacancy Rate: 1.6%
Adelaide's housing market has essentially done nothing since the beginning of 2008, in line with its underperforming economy, but there are now signs of a gradual recovery in buyer activity.
Darwin: Median house price: $520,000; 0.7% increase in last 12 months. Median unit price: $457,500; 6.0% increase in last 12 months. Vacancy Rate: 0.8%
The Darwin property market was the strongest performer for a few years, fuelled by strong investor sentiment, but the excitement seems to be over (at least in the short term.) I’ve always found investor-driven markets more volatile than our big capital cities and that’s why I avoid them.
 
<hr class="system-pagebreak">
Hobart: Median house price: $315,000; 0.0% increase in last 12 months. Median unit price: $270,000; -4.7% decrease in last 12 months. Vacancy Rate: 2.5%
The Hobart housing market is showing early signs of stabilising after a prolonged period of subdued activity.
Canberra: Median house price: $555,000; 4.5% increase in last 12 months. Median unit price: $457,500; -0.8% decrease in last 12 months. Vacancy Rate: 1.7%
The Canberra housing market is slowly showing signs of activity after a flat period for much of the last year.
Source of Data: <a target="_blank" href="https://rpdata.com/">RPData,</a> <a target="_blank" href="https://sqmresearch.com.au/graph_vacancy.php?region=nsw%3A%3ASydney&amp;type=c&amp;t=1">SQM Research</a>
What next?
The overall fundamentals for property are sound and our property markets should keep consolidating.
Interest rates are likely to drop one or two more times as our economy hits a few more speed bumps causing unemployment to rise a little.
But, generally, our household budgets are in good shape as we’ve been consolidating our debts, and once the uncertainty of the election is out of the way, people will start getting on with their lives.
Our population is growing strongly and almost everyone who wants a job has a job. People are still getting married, having babies, moving interstate or getting divorced – they all need accommodation.
We’re in the early upturn stage of the property cycle in most states and buyers are returning, slowly taking up available stock and gently pushing up prices in the middle price range.
However, these purchasers are being very selective. Well-located, well-priced properties are selling, but properties in secondary locations or those in areas of oversupply are languishing.
The prestige end of the market, which has been hit hard over the last five years, will also slowly improve as our economy and business sentiment picks up.
Rising consumer confidence, low interest rates, a stable economy, rising rents and more good news in the media are likely to augur well for our property markets this year.
 
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But you can’t just buy any property.
Home buyers and investors will have to do careful due diligence – they won’t have booming property prices to cover up mistakes.
This means they will need to buy the right type of property…
One that has a level of scarcity, meaning it will be in continuous strong demand by owner occupiers (to keep pushing up its value) and tenants (to help subsidise your mortgage); in the right location (one that has outperformed the long-term averages), at the right time in the property cycle (that would be now in many states) and for the right price.
Then hold it as a long-term investment and reap the rewards.
Want to know what I’ve been up to and what I’m buying?
I’ll be explaining what I’m doing and, just as importantly, what I’m not doing at our upcoming <a target="_blank" href="https://propertymarketupdate.com.au/">Property &amp; Economic Market Update one-day trainings</a> I will be holding around Australia in August and September.
I won’t be conducting similar seminars until well into next year, <a target="_blank" href="https://propertymarketupdate.com.au/">so please click here now</a> and get the full details and reserve your place. I’ll be joined by various local property, tax and finance experts in each state.
We plan to give you straight-forward, no nonsense, practical steps and honest answers to improve your property performance this year and into the future. To reserve your place or to find out more, <a target="_blank" href="https://propertymarketupdate.com.au/">simply click here now</a> and I’ll give you my personal guarantee your time will be well spent. I’m looking forward to seeing you on the day.
Michael Yardney is a director of <a href="https://www.metropole.com.au/" rel="nofollow">Metropole Property Strategists</a>.
 
 
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Remember you can’t just buy any property - and what are the capital city property markets really doing? Michael Yardney

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He's not officially as Aussie buying abroad, but host of Channel Nine's The Voice, Darren McMullen, has purchased a 19th century restored water mill in south-west France known as Le Petit Moulin.
McMullen took to his Instagram to announce the news, calling the new home “paradise”.
Located in Salies-de-Bearn, the three-bedroom character mill was listed for €346,500, approximately $506,099.
The mill stream is approximately 100 metres long and is relatively simple to maintain.
Listing agent Joanne Davey says the property has barely been occupied since the renovations, so the work is fresh and untouched.
The property has been furnished by an interior designer, with the option to purchase the furniture through a separate transaction.
The Scottish born McMullen is currently based in Europe working on a travel show for National Geographic.
Le Petit Moulin was listed through <a href="https://www.frenchcharacterhomes.com/properties/water-mill-for-sale-south-west-france/" target="_blank">Joanne Davey of French Character Homes</a>.
You can also read <a target="_blank" href="https://www.propertyobserver.com.au/news/five-tips-for-aussie-s-buying-abroad-in-france/2013081564264?utm_source=po&amp;utm_medium=aida&amp;utm_campaign=newsplus">five tips for Aussie's buying abroad in France</a>. </body></html>

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