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]

Joel Robinson

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

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

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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Anything other than an orderly correction in Australian house prices could spell trouble for Australia’s banks, an economist has warned.
Moody’s Analytics managing director and economist Tony Hughes says Australian housing “appears overvalued” and has warned of the experience in the US where the property downturn brought the “country’s banks to their knees”.
Hughes tempered his remarks, telling the Australian Financial Review that his report showed Australian house prices appeared “modestly, but not excessively” overvalued.
However, he warned against complacency given that Australia’s banks have the heaviest weighting to the local property market via home loans than any other banking sector in the world.
Home loans make up nearly two-thirds of the total lending undertaken by Australian banks compared to an exposure of around 35% among American banks.
The latest APRA banking figures for May provide a stark reminder of the extent to which the big four banks dominate the mortgage lending landscape.
Top of the pile is the Commonwealth Bank with a mortgage book worth $320 billion followed by Westpac ($297 billion), NAB ($196 billion) and ANZ ($178 billion).
By comparison, the fifth biggest mortgage lender, ING Direct, has a home loan book worth only $37 billion.
Hughes warns that this high exposure to home lending represents a “major concentration risk for banks and the Aussie economy”.
And while local analysts remain complacent in his view about this concentration risk, Hughes says international investors are concerned.
“When trends in Australian house prices are compared globally, the signs look worrying,” Hughes says.
</body></html>

lschlesinger-FZcF9M3vE6

Australian banks at risk to “fickle” and “modestly overvalued” housing sector: Moody’s economist

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A new financial year begins this month and for some lucky people, it may bring a handsome income tax return along with it. If you are expecting a nice return and intend to add this to, or make a start to, a deposit for your first property purchase, well done!
Whether it be that first home purchase that you hope will leapfrog you into an investment career, or making that first property buy an investment, as you save for your deposit over the years leading up, you’ll have plenty of time on your hands to prepare. As you get within a few months of your target property purchase time; the due diligence and research you need to conduct ramps up considerably.
But what if you are still a year, two years, or further, away from purchasing? Other than saving the money in your bank account, there is plenty that can be done, so today I’ll cover off some basics that you should really be doing in this slow build-up. <a imageanchor="1" href="https://1.bp.blogspot.com/-zwd_PXqYuuE/Uc6Nf3c9l2I/AAAAAAAAAf8/ijz839PsA4g/s850/Buying+your+first+property+home+investment+in+Australia+tips+to+help+you+save+more+deposit.jpg"></a> Credit history – Sort out those credit cards and personal loans Though you may be more than twelve months away from applying for a mortgage, it is important you start to build a positive credit rating, and for two reasons:
-          Firstly, if you have several credit cards, a personal loan, and any outstanding unpaid debts or bill, you can imagine how poorly this reflects on your credit history, and restricts your borrowing capacity if you still have all these overheads when you make your application. Against some popular belief though, sometimes having just one or two personal debts (like a single credit card or modest personal loan) that features a diligent (never late; and where possible; beyond making the ‘minimum repayment’) and sterling payment history. This can be good evidence of a committed repayment-maker, and may work favourably for some applicants.
-          More importantly though; if your property goals are very ambitious and you perhaps have not formed good spending and saving habits, now is a good time to reign that in and take stock of your self-discipline and self-restraint. Having entered my thirties recently, I have become a much more disciplined and well-budgeted individual compared to my early twenties. These days though, it is not uncommon for young Australians in their late teens and early twenties to develop property ambitions early on. I purchased my first property when I was twenty-five and I can tell you, in the two years or so leading up to that achievement, I really had to take stock of credit card debts and begin showing an evidenced savings approach. It is important to do this to avoid future disappointment.
 
Mortgage Broker – Get one to do a borrowing capacity check now, even if you do not use them Most mortgage brokers effectively work ‘for free’ to their client. Like some ‘no win, no fee’ solicitors, mortgage brokers typically only get paid for their service as a commission from the lender once you are unconditionally approved for, and take up, a mortgage with a lender.
However, lenders offer so much more than just helping with the process and finding you the best rates/package features in the market.
Lenders have access to software that allows them to do a run across dozens and dozens of lenders, using your personal data, to give a pretty precise ‘maximum lend capacity’ for each of the lenders. Also, they will identify which lenders, after considering your current (or future-predicted) financial situation, will flat-out refuse to lend to you (or lend to you an amount or a product that does not work for you).
So contact a broker now, give them either your current financial situation/current deposit amount, or a future-predicted situation in twelve or more months’ time and have them run their report on who will lend to you, and by how much. Sometimes the results are startling – and this can be positive or negative.
If the amount you had in mind is nowhere near the reality of even the most generous lender’s maximum lend rate, it could be a time to reassess your goals or rethink your first purchase strategy. Conversely, if your aspirations are more conservative, you may be pleasantly surprised by how much various lenders will give you, assuming a certain set of personal circumstance variables.  <a imageanchor="1" href="https://3.bp.blogspot.com/-3JLIr19tu-8/Uc6NfuN6SuI/AAAAAAAAAgA/zmQLdN9t-RU/s500/Saving+for+your+first+house+purchase+Australia+research+how+to+save+for+your+first+property+and+tips+and+tricks+to+do+this.jpg"></a> Develop a ‘property needs assessment and usage over time’ document This does not need to be ‘War and Peace’. Rather it should simply be a bullet-pointed word document that forms the plan for how you intend to you use this property over time and what the ‘must-haves’ for this property are. This is really just to ensure you form a plan and stick to it.
It is no good saving up for a modest apartment to use solely as an investment property; then twelve months down the track when your savings goal is achieved, you throw the plan out the window and decide you want to by a lavish home to live in instead. This will throw back to the drawing board, right at the time when you should be ready to act/execute on all of the planning and due diligence you’d done.
This could see you making hasty or foolish buying decisions in light of an inconsistent or poorly kept-to plan.
This comes back to what I mentioned earlier about developing self-discipline. It is important to have goals and stick to them. The other element of this plan is how the property will be used over time. Though I am a big advocate of purchasing property for a single use (say, home or investment) and not detouring from that usage, I have made exceptions to this for a couple of property purchases over the years too.
So this plan will look very different depending on whether it is bought as a home or as an investment. Here is a shortlist of questions to consider answering, in writing your list:
Home purchase: -          Is it a starter home? I.e. something modest that you’ll have for just a few years, then upgrade when you have the means to move into a bigger/more expensive home. -          Will it always be a home? I.e. will you sell it to move to a bigger home, or keep it as an investment, thereby changing the property usage? If so, have a think about what the ramifications of this will be, before you buy. -          Are you looking for a home that is established, renovated already, with not a thing to do? Or, are you looking at taking something on that requires a bit of work over the first few years, to bring up to scratch?
Investment property: -          What is your risk profile? Identify how much risk you are willing to take on and this will usually dictate the area, type of dwelling, and overall investment you pursue. -          Is this the only one? Do you just want one investment that you can keep over the years and pay off over time, so you have it as a revenue-stream when you retire? Or is this the first of what you want to be many investment properties? Think about the consequences. -          Depending on how you answer the above question; what are you seeking most from this investment – capital growth (the property increasing in overall potential sale value over time), or rent return (where the monthly rent more than pays for all expenses and produces you positive income each month).
In a utopian world, we’d all be buying properties that can do both; but this is often a challenge to find! Particularly for your investment property you may be better off pursuing on type of return initially.
Investors who are content with buying one property only typically focus more on capital growth over time. Portfolio-builder on the other hand will sometimes value rental return more; as it can enable them to have good enough cash-flow to progress to their second purchase and beyond.
 
Educate yourself – You need to do this proactively; wisdom is rarely imparted, rather it is requested You have plenty of time up your sleeve while you are saving, so it is time to school up! Be like an interrogator with information that comes to you. Some would-be buyers take a passive approach to this, casually overhearing conversations with friends, or flipping through a magazine and a story on property happens to come up.
Whilst this can be nice to get a feel for the climate, this is not proactive research. Proactivity means you need to seek out independently, the answers that matter to you, rather than being influenced by other people’s casual conversations or news-grabbing dramatic headlines about the property market/industry.
Even as you read this article; ask yourself – ‘did I casually stumble upon it and read it because I was bored?’ Or were you actively Google-searching something like ‘how to buy your first house’ or something similar? Once you have written your word document above, you’ll have lots of questions you’ve created for yourself.
Pursue these answers proactively and independently; and do not be afraid of being taken on a tangent every time you learn something new (I.e. you open a second browser window to search about something you read in the first browser window!).
As I say above, I believe that wisdom is rarely imparted, rather it is requested. In the end though, the key to planning a successful first property buy – be it home or investment – is to remain active.
Do not become passive and do not push out all of your pre-purchase tasks as ‘things I can do later’. Instead of using your feet to toe-tap and wait for information and opportunities to come to you, use your feet to hit the pavement and start preparing. The key to a successful purchase – and especially to a successful property investment – lies in proactivity and planning, so get started now!
Cameron McEvoy is a NSW-based property investor and maintains a blog, <a target="_blank" rel="nofollow" href="https://propertyspectator.blogspot.com.au/">Property Correspondent.</a>
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Taking the first steps towards your first home: Cameron McEvoy

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The role of human sentiment in the economy is important – it creates market momentum, but the sentiment itself doesn’t always stick to the data.
In 2011 and 2012, consumer confidence was low and in most cities house prices dropped. But our unemployment was the envy of the developed world, interest rates were falling, inflation was tame and exports were booming.
The data said ‘boom’ but Australians didn’t have the confidence to buy houses.
In the most recent surveys, we’re again seeing a mismatch of sentiment and data.
Take house prices. In the June RP Data-Rismark Home Value Index, the average capital city house price rose a healthy 1.9% in the month, and recorded a financial year rise in house prices of 3.8% across the eight capital cities.
It’s not a boom, but the trend shows confidence.
In the NAB Monthly Business Survey, confidence among business owners actually rose in June so there are now as many optimists as there are pessimists.
However, while consumer and business owner confidence was fairly good in June, the business data in the survey was terrible.
In terms of forward orders, prices and unused capacity, Australian businesses went backwards in June. Business conditions were at their lowest since May 2009 and the sectors hurting the most were retail, mining and manufacturing.
In other words, sentiment was picking up while the economic data started going backwards, just as in 2011-12 sentiment was low during solid economic data.
What are households and business owners supposed to do with this clash of information?
My advice is to always control the controllable things and stay informed about the big picture, rather than be overwhelmed by it.
For instance, if you own a manufacturing business and the news is all about how energy prices and the collapsing mining boom is hurting your industry, there is not much you can do about it.
But you can cut costs in your business and use historically low interest rates to finance new technology, fund an expansion or refinance expensive debt.
In your household you may be reading about a coming period of economic pain and the recent rise in unemployment.
You can’t alter the information but you can put some savings aside, ensure security for your job and pay down debt. Work with what you’ve got, and that includes some very low fixed mortgage rates.
There’s also your attitude, which is another thing you can control: beware of the exuberance of optimism and the panic of fear. Both will lure you into bad decisions, and bad decisions will bring you undone faster than any economic data.
As I write this, the International Monetary Fund has downgraded global economic growth. At the same time, Wall Street booms: the Dow Jones Industrial Average is currently 1,000 points higher than it was at the height of the boom in 2007.
So, does human confidence hang-on in spite of economic predictions? I would love to know what you think.
Mark Bouris is executive chairman of <a target="_blank" rel="nofollow" href="https://www.ybr.com.au/">Yellow Brick Road</a>, a financial services company offering home loans, financial planning, accounting and tax, and insurance.
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It’s not a property boom, but the trend reflects confidence: Mark Bouris

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Nearly three out of five Australians expect house prices to rise by just under 10% over the next 12 months as optimists continue to significantly outnumber pessimists on the short term outlook for the property market.
The results are part of the quarterly Westpac-Melbourne Institute Consumer House Price Expectations Index, which fell from 53.9 in April to 46.9 in July.
The latest  index records a small drop in the proportion of respondents expecting house prices to rise over the next 12 months from 62% in April to 58.6% in July.
Nearly a third of respondents (30%) expect house prices to remain stable over this time period with the proportion of people expecting house prices to fall, rising slightly from 8% in April to 12% in July.
Expectations are strongest in NSW with over two thirds of consumers expecting prices to rise.
The chart below shows how the house price expectations index correlates with and anticipates to a degree actual changes in house prices, as well as the recent softening in outlook.
<img src="/images/stories/2013/larry_uploads/westpac_house_price_index.jpg" width="470" height="215" alt="westpac_house_price_index">
The results are published in the Westpac Red Book and follows the<a target="_blank" href="https://www.propertyobserver.com.au/economy/consumer-sentiment-downbeat-compared-to-same-time-last-year-westpac-index/2013071063147"> monthly consumer sentiment survey</a> which found overall sentiment unchanged in July with optimists just outnumbering pessimists.
However, the sub-index tracking views on “time to buy a dwelling” fell sharply by 8.4% in July, foreshadowing the drop in house price expectations.
Despite the small downward adjustment in expectations over the  July quarter, Westpac Red Book author and senior economist Matthew Hassan says the ‘up: same: down’ mix of '58:30:12' is signi?cantly more positive than the '47:32:21' reading averaged in 2012.
“Although there is a clear consensus that prices will rise, few expect double-digit price growth with just 8% expecting a 10% plus rise," says Hassan.
“Dwelling prices often surprise though.
Prices rose 3.9% in the year to June – a gain over half of consumers did not anticipate.
“Conversely prices were weaker than expected in 2011-12 with only 22% of consumers correctly picking the 2.6% decline."
The Westpac index found some notable shifts in state sentiment with house price expectations taking a big knock in WA, falling from a “very bullish” +82 in Apr to a much lower but still positive +41 in July.
<img src="/images/stories/2013/larry_uploads/westpac_house_price_index2.jpg" width="470" height="222" alt="westpac_house_price_index2">
In WA, a less positive view on house price outlook, may see some cooling in WA’s housing market which outperformed in 2012-13, notes Hassan.
“This looks to be more than just a mining story with expectations in Queensland tracking in the opposite direction (up 15 points).
“Price expectations are now closely clustered with little separating consumer expectations in Queensland, Victoria and WA.
“Only NSW stands out as more bullish on prices, with over two thirds of consumers in NSW expecting prices to rise,” says Hassan
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Optimists outnumber pessimists on house prices despite drop in sentiment: Westpac Red Book

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You’d be hard pushed to find a first home buyer shopping in our largest capital cities, who had not been outbid by an investor over recent times.
The ABC has been running an interesting and somewhat anecdotal study on the <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2013-07-08/cost-of-living-weighs-on-minds-of-australians/4804728">cost of living</a> pressures for a range of ‘typical’ household types across Australia, assessing how they perceive and experience the current headwinds facing our population, in what’s broadly considered to be one of the most expensive countries to live in the world.
According to the IMF, we sit within the top ten of per capita GDP data and PPP (purchasing power parity) data making us officially ‘very well off’ – and whilst both are pretty poor in appraising what’s really happening compared to the perceived on paper analysis which dictates what we should be feeling, ask any economist and they’ll relate a similar story.
Ben Phillips from the National Centre for Social and Economic Modelling (NATSEM), has been studying cost of living pressures over the last decade and concluded Australian households are doing exceptionally well, and any poll boosting political speak suggesting we’ve never had it tougher is a furphy.
His analysis is based on our golden years of growth during which strong and growing incomes have outpaced the official inflation data which has stayed within the RBAs preferred range of 2 to 3 per cent over the past 10 or 20 years, leaving Australian’s ‘a long way ahead of their cost of living’ – which is a lot different from the rhetoric we commonly hear expressed, he concludes.
According to the study, we just ‘think’ the cost of living has increased. 
And here’s the Roy Morgan graph <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2013-07-08/household-expenses-graph/4802030">to prove it</a>.  
No doubt, for a proportion of Australians this is a reality.
However, it’s more likely to be the proportion of our population that entered the property market early and have subsequently offloaded much of their housing costs whilst still earning and investing - or higher wage family units living within their means.
Because, not surprisingly, by far the largest complaint from the ABC study and other such reports assessing similar concerns, is the escalating cost of accommodation and the lack of suitable well located options for those who have a view to entering the property market should they be able to achieve the relatively mammoth task of saving a deposit on the median disposable household income which is around $43,000 for a single person.
(For those wanting a deeper analysis of typical household incomes, I highly recommend Mat Cowgill’s blog <a href="https://mattcowgill.wordpress.com/2013/05/13/what-is-the-typical-australians-income-in-2013/">What is the typical Australian’s income in 2013?</a> or <a href="https://grogsgamut.blogspot.com.au/2013/04/what-is-median-australian-income">Grog’s Gamut</a> which follows a similar line and sheds light on the broadening gap between the different income percentiles.)
One mistake made when assessing affordability, is to concentrate only on the principle cost of the home – calculating the percentage of income needed to service the repayments – which is usually appraised next the widely considered 30 per cent of disposable income manageable bench mark.
 
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However I sometimes think a better assessment would be to take into account what’s left over post housing costs, and whether it’s enough to afford the actual non Consumer Price Index cost of living which all would agree has escalated considerably.
It’s not only commodity prices that have spiked such as gas and electricity but an overload of other essentials such as insurance premiums, housing maintenance costs or owner corporation fees, school fees and child care for working mothers, medical and dental expenses and so forth - transport costs are substantial for those commuting daily as are the needs’ of a modern generation who enter commission/performance based jobs which expect them to have 24 hour access to mobile phones and email.
Obviously, for a lower income individual, there’s far less in the pot once the 30 per cent has been extracted than would be the case for higher income workers. But once the bank has taken their share of principle and/or interest repayments, or tenants have paid their rent, which the ABS assess to be a similar percentile income proportion to accommodation costs serviced by mortgage holders, it’s the remainder that’s needed to service the other ‘not so cheap’ requirements of modern day living that’s an increasing area of concern, as cited by organisations such as <a href="https://www.shelter.org.au/">Shelter.</a>
For duel income households, the expenses can be shared, however single buyers would need at least $350,000/$360,000 to purchase within commutable distance of our major capitals – the job hubs of Australia, and even in our current low interest rate environment with variable rates around 5.5 per cent, on a median income of around $40,000, buyers are priced out unless they have additional assistance from friends or family.
From the participants surveyed as part of the ABC report, a range of comments reflected these concerns, yet one prominent cry which I hear expressed from many first home buyers, is resentment towards investors – or as the ABC case study put it, “people” that;
“have three or four homes who are going into that market because they're earning money and getting a lot more profit on it..” leaving a “lot of my friends say(ing) that they think 'I'll never own a house, I'll never be a home owner, it's too expensive”
If you ask any non home owner if they would like own a property, 9 out of 10 would say yes – yet most accept they will need a period of renting prior to purchasing, so you could ask – Why the resentment against the investor, the majority of which, only own one or two investment properties, not the 3 or 4 cited above?
To answer the question, we need to assess whether investment into the property market has aided the first home buyer, or hampered their journey into ownership – the latter of which is this demographics’ majority view.
To date, house price increases have been primarily fuelled by households taking on an increasing proportion of mortgage debt – debt which outpaced both wage rises and inflation for the same period.  
At the same time investment into property was broadly encouraged through various government incentives, such as negative gearing and reductions in capital gains tax – and most recently, the ability to borrow and buy real estate as part of a SMSF.
Currently, investors make up a little over 40 per cent of Australia’s buying market with scant information on the percentage of foreign acquisitions.
The number of landlords lodging a tax return in 1991 was 750,000 – compared to the latest data of 1.8 million in 2011.
The increase in outstanding investor mortgage credit since May 1993 is 1970% compared to 837% for owner occupied housing (Macro Business.)
Yet with all our initiatives to boost the share of private investment into the property market under the misleading concept that it would somehow lower demands for social housing and provide a greater array of options for renters, the shameful fact remains that it has done little - if anything - to increase supply.
Loans to investors for the purchase of new property come in at less than 5 per cent – which essentially means, the vast majority of Australia’s buying market – over 90% - competes for a reducing pool of second hand dwellings.
Apartments are generally considered the ‘foot through the door’ property type that attracts a younger ‘first home buyer’ demographic. However, the bulk of inner city established unit and apartment stock is investor owned, (close to 70% in some localities.) Therefore, both typically compete for the same property types within a similar price bracket.
 
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Most investors are speculating on capital gains and employing a negative gearing strategy which promotes speculation into established terrains and a ‘hold for the long term’ mentality.  As a consequence, unit holding periods over the past decade have increased 39 per cent (RP Data) which further promotes a ‘bottle neck’ of demand.
And we’re not alone, a recent study in the UK by the <a href="https://www.strategicsociety.org.uk/">Strategic Society Centre</a> notes similar figures - with the number of private landlords as a proportion of the population more than doubling between 1991 and 2008.
The study has caused an outcry due to the large disparity between owners and renters, which they cite as an ‘enormous financial gulf’ with calls for a massive increase in additional supply to attract new owners.
Unfortunately, the only option considered has been an injection of easy credit by way of the UK’s Help to Buy scheme which will produce inflationary elements into the market and further hamper affordability.
First home buyers in the USA are also struggling, with reports of cash only investors soaking up large swathes of affordable family homes in city locations.
As just one example, close to a third of all homes purchased in LA during the first quarter of 2013 went to cash only buyers, compared to just 7% in 2007. First home buyers and families simply can’t compete.
In Sydney, investors make up roughly 50% of the buying market – and with the level of residential property listings falling to 2009 lows which accounts for a 23.1% yearly decrease in stock (SQM), it’s no wonder that the proportion of first home buyers in NSW sits below 5% – a shameful statistic.
I still regularly hear industry professionals talking up property investment to their clients, speculating on an 8% to 10% annual return as was the case for those that purchased prior to the spending spree which spurred accommodation costs to an all time 2010 peak.
However to continue on such a trajectory would take the average nominal apartment price in our two major capitals close to, and over a million. If you think getting a foot into the housing market is tough now – it will be nigh on impossible if the wishes of those benefitting from swelling property prices get their way.  In all honesty – if anyone spruiks this mantra to you – walk the other way.
Of course it’s not just investment into property that has played a part in prices being as high as they currently remain – a comprehensive study would bring many other issues to light, with significance given to reducing the inflationary elements around the limited supply of established accommodation whilst at the same time, exploring new ideas to massively boost infrastructure investment into regional and fringe locations which would aid an increase of demand in the construction sector.
Yet it remains, that the capital cost of property for initial owners in areas where they are feasibly able to live whilst servicing a combination of other essential necessities is out of bounds for a significant proportion and as far as perceptions go, you’d be hard pushed to find a first home buyer shopping in our largest capital cities, who had not been ‘outbid’ by an investor over recent times.
Despite the higher interest rates, for those who purchased in the late 90s or start of the 2000s, a cheaper capital cost although not easier to service, allowed the principle to be paid down at a faster rate than the longer mortgage terms required for the higher nominal capital prices which sit at peaks in today’s market and over the course of the loan, require the borrower to pay back substantially more.
The risks of taking on a higher proportion of private debt despite our low interest rate environment should not be discounted simply because the serviceability of those expenses is assessed to be ‘affordable’ – yet to get into the market, this is precisely what we are asking first home buyers to do.
Investors are an important sector of any residential property market – and should not be blamed for making efforts to secure their financial future.  Instead, we need to look towards our Governing powers that have the political clout to level the playing field.
As those who have their heads out the sand are aware – Australia faces some significant headwinds over the next decade and even with modest improvement of first home buyer figures in the latest ABS finance data – no doubt buoyed by the rush to enter prior to grant withdrawals – it remains to be seen whether we can start producing any long term sustainable solutions for this sector.
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Property investors should not be blamed for the housing unaffordability: Catherine Cashmore

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Historically real estate markets never over–perform during elections so it comes as no surprise consumers are confused and frustrated as Australia endures the longest election period ever seen before.
Given September 14 has now been ruled out (following its February announcement) it is anyone’s guess when Australia is headed to the polling booths.
This was confirmed by the Melbourne Institute and Westpac this week when they announced consumer sentiment had edged down by 0.05 % in July from June, when it rose 4.7%.
There is a very strong and loud argument that the upcoming election must be held sooner rather than later, given such delays historically impact consumer sentiment and furthermore stall the economy from natural growth.
The unemployment figures were released this week to reveal that the rate rose to 5.7 % from an upwardly revised 5.6% in May which is the highest level since September 2009. The true unemployment figure is actually 13% which was also revealed by the Australian Bureau of Statistics (ABS) this week.
This new analysis combines the official unemployment rate with “discouraged” jobseekers, the “underemployed” and those who want to start work within a month, but cannot begin immediately. This new analysis is much more accurate than counting people as employed should they work more than one hour a week.
The ABS report shows the labour under – utilisation rate fell steadily between 2001 and 2008 but “increased sharply” when the global financial crisis hit in 2009, from 10.6 % to 14.3%.
So it would be fair to assume that in 2013/14 the Australian economy won’t be setting any growth records given it’s becoming very clear that the mining industry has peaked and our economy adjusts. The Fairfax Media half–year economic survey identified that the Australian economy is unlikely to reach its official growth forecasts. The survey was compiled from the views of 27 economists.
<a href="https://www.rwm.com.au/wp-content/uploads/2013/07/6-07-2013-10-35-21-AM.jpg"><img height="264" width="470" src="https://www.rwm.com.au/wp-content/uploads/2013/07/6-07-2013-10-35-21-AM.jpg" alt="6-07-2013 10-35-21 AM"></a>
 
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Here are the findings:
<ul>
<li>
The panel is far less optimistic about export prices. While Treasury predicts that the terms of trade – the ratio of export prices to import prices – will largely hold its ground in the next 12 months, declining only 0.8 per cent.. The panel predicts it will fall by 4.9%, implying further pressure on Australia’s high – cost mines.
</li>
<li>
The budget assumed that the peak of the mining boom is still ahead, tipping business investment to rise a further 4.5% in 2013-14, generating an extra $12.5 billion of output. Since then, the March – quarter national accounts have shown business investment peaked last September, making the panel far more pessimistic On average, the panel forecast business investment to decline by 0.6 %in 2013 – 14, cutting $1.5 billion off the nation’s output. After a decade in which business investment grew on average by more than 10% a year, that would be a dramatic change, especially in the resource states.
</li>
<li>
Treasury budget forecasts assumed that lower interest rates would reignite consumer spending, which it predicted would grow by 3% in 2013 – 14. Again, recent data suggests the ‘green shoots' celebrated in January and February have withered since. The panel is less sanguine than the budget, on average tipping consumers to buy only 2.4% more in 2013 – 14 than they did last year.
</li>
</ul>
Interesting to see what happened to Mosman apartments for the period 1 January 2013 to 30 June 2013 then compare the results to the same period in 2012. Only a minimal change which confirms our previous predictions that prices overall remain in a holding pattern.
<ul>
MOSMAN APARTMENT SALES TO 30 JUNE 2013
<li>
Total Number of Sales – 191
</li>
<li>
Total Value Sold – $181,629,964*
</li>
<li>
Median Price – $722,500*
</li>
<li>
Average Price – $950,942*
</li>
<li>
Auction Clearance Rate – 66%
</li>
<li>
Adjusted Clearance Rate – 58%
</li>
MOSMAN APARTMENT SALES TO 30 JUNE 2012
<li>
Total Number of Sales – 216
</li>
<li>
Total Value Sold – $186,321,820
</li>
<li>
Median Price – $661,500
</li>
<li>
Average Price – $862,601
</li>
<li>
Auction Clearance Rate – 37%
</li>
<li>
Adjusted Clearance Rate – 26%
</li>
</ul>
*Denotes this figure will increase as Confidential Prices are recorded.
Who would have thought that Mosman houses would for the very first time since we started recording this data drop below 60 houses on the market? Again, (I keep saying this) it will be interesting to see how low this figure goes as we don’t anticipate to see increased stock levels until early – mid August.
Source: Australian Property Monitors
<ul>
MOSMAN – 2088
• Number of houses on the market this time 2012 – 70 • Number of houses on the market last week – 63 • Number of houses on the market this week – 59 • Number of apartments on the market this time 2012 – 83 • Number of apartments on the market last week – 54 • Number of apartments on the market this week – 54
CREMORNE – 2090
• Number of houses on the market this time 2012 – 9 • Number of houses on the market last week – 7 • Number of houses on the market this week – 7 • Number of apartments on the market this time 2012 – 18 • Number of apartments on the market last week – 14 • Number of apartments on the market this week – 15
NEUTRAL BAY – 2089
• Number of houses on the market this time 2012 – 14 • Number of houses on the market last week – 9 • Number of houses on the market this week – 5 • Number of apartments on the market this time 2012 – 54 • Number of apartments on the market last week – 36 • Number of apartments on the market this week – 34
</ul>
It’s that time of the year where I take a couple of week’s break so hopefully Steve and Richard will write the weekly editions in my absence. Hopefully, early next week we will roll out our latest media platform which has some amazing new technologies. I must admit one of the most exciting parts of running a big online platform is reinvesting into smarter and newer technologies.
After all – media platforms are all about pleasing and enticing the consumers.
Robert Simeon is a director of <a target="_blank" rel="nofollow" href="https://www.rwm.com.au/" title="RWM">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 target="_blank" rel="nofollow" href="https://www.rwm.com.au/news/" title="Virtual Realty News">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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Consumers frustrated by the longest election period ever seen: Robert Simeon

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RP Data has researched the entry point price for the top 1% of homes across the capital cities.
<img src="/images/stories/2013/07/NUMBERS/numberonejuly11.jpg" width="35" height="44" alt="numberonejuly11"> Sydney's top 1% of homes begins at $3.3 million
<img src="/images/stories/2013/07/NUMBERS/numbertwojuly11.jpg" width="35" height="41" alt="numbertwojuly11"> Melbourne's top 1% of homes was $2.3 million.
<img src="/images/stories/2013/07/NUMBERS/numberthreejuly11.jpg" width="35" height="46" alt="numberthreejuly11"> Perth's was $2.29 million.
<img src="/images/stories/2013/07/NUMBERS/numberfourjuly11.jpg" width="35" height="45" alt="numberfourjuly11"> Darwin's top 1% of homes was $1.73 million.
<img src="/images/stories/2013/07/NUMBERS/numberfivejuly11.jpg" width="35" height="38" alt="numberfivejuly11"> Canberra's was $1.7 million.
<img src="/images/stories/2013/07/NUMBERS/numbersixjuly11.jpg" width="35" height="41" alt="numbersixjuly11"> Brisbane's top 1% starts at $1.57 million.
<img src="/images/stories/2013/07/NUMBERS/numbersevenjuly11.jpg" width="35" height="42" alt="numbersevenjuly11"> Adelaide's was $1.45 million.
<img src="/images/stories/2013/07/NUMBERS/numbereightjuly11.jpg" width="35" height="37" alt="numbereightjuly11"> Hobart's top 1% of homes kicks off at $1.03 million.
Source: RP Data News Ltd papers
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The top 1% of house sales across capital cities: RP Data

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Cute as a small button, but likely to be bulldozed.
There was a $1.26 million sale at North Curl Curl amid the weekend auctions of a classic two bedroom, one bathroom beach cottage.
The 76 square metre house that sits on a 310 square metre <a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/deewhy/properties/287055" target="_blank">6 Surf Road </a>block was listed by Lauren Haines at Raine &amp; Horne Dee Why.
It has views over the adjacent Flora Reserve towards the beach and ocean.
The revamped classic beach house sits on 311 square metres of level land.
"Move straight in and plan your next home, rent it out, or just enjoy this beach house in this magical position as it is," the marketing said.
The<a href="https://www.google.com.au/maps?q=&amp;layer=c&amp;z=17&amp;iwloc=A&amp;sll=-33.763072,151.296099&amp;cbp=13,280.0,0,0,0&amp;cbll=-33.763113,151.296381&amp;ei=kKXgUcCaMOuwiQehy4HoAQ&amp;ved=0CCsQxB0wAA" target="_blank"> Google streetview </a>shows what's likely to come by way of second floor.
There were eight registered bidders at the on-site auction.
It last sold at 385 pounds in 1954.
There had been sales along Surf Road of up to $1.8 million in previous years.
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Classic North Curl Curl beach house sells for $1.26 million

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There are 305 scheduled weekend auctions across Sydney this weekend, up from last weekend’s 289, according to Australian Property Monitors.

The numbers are even higher than the 262 auctioned over the same weekend a year ago. 

Sydney’s south will be the busiest region with 59 scheduled auctions including five in Sans Souci and Bexley.

The inner west has quitened down a little with 43 auctions scheduled, compared to the 62 properties last weekend.

The city and east has 34 auctions scheduled with the upper north shore having 27.

Hurtsville with seven auctions is the busiest suburb this weekend, followed by six in Surry Hills.

Last weekend’s strong auction clearance rate in Sydney was 77.5%, almost identical to the previous week at 77.4%, the APM senior economist Dr Andrew Wilson noted.

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Sydney’s south will be Sydney's busiest weekend auction region

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The development of the airspace above Sydney's central station has been proposed by the NSW Government continuing the State Government's asset sales program.
The NSW Minister for Planning, Brad Hazard has <a href="https://www.planning.nsw.gov.au/StrategicPlanning/CentraltoEveleighcorridor/tabid/669/language/en-US/Default.aspx" target="_blank">unveiled a concept plan</a> shows a cluster of high-rise buildings over Central station platforms stretchingthe corridor between Central and Eveleigh and along the Belmore Park perimeter.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/07/centralstationjuly12one.gif" rel="shadowbox"><img src="/images/stories/2013/07/centralstationjuly12onethumb.gif"></a>
They will have high rise buildings above the tracks emulating previous localities including Edgecliff, Chatswood and Kogarah.
"This is a golden opportunity Sydney can offer up," he said.
It was dead space which could become a new heart of Sydney over the next 10 to 15 years, he added.
Brad Hazzard said it was an urban renewal opportunity unrivalled anywhere in Australia.
Click to enlarge
<a title="Click to enlarge" href="/images/stories/2013/07/centralstationjuly12two.gif" rel="shadowbox"><img src="/images/stories/2013/07/centralstationjuly12twothumb.gif"></a>
"We believe there is the opportunity for a world class redevelopment of the corridor on a scale that reflects Sydney’s global city status," he said.
"Similar models have been successfully implemented in New York, Paris and London.
"By building above the rail lines and on underutilised land we can potentially make available more than one million square metres of new floor space - double the size of Barangaroo."
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