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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This Friday the housing finance figures for May will be pored over by economists in Federal Treasury and especially the Reserve Bank for further evidence that new home industry is rebounding. Both institutions and their masters, along with some private-sector economists, know that a boom is taking shape in the new home market, thanks to record low interest rates -- the question is its sustainability and whether it will be enough to help pick up the slack emerging in the economy from the slowdown in mining investment.
On current indications it probably will last and help cushion the wider economy from a big hit from the effects of mining investment returning to more sedate levels. In fact, such has been the acceleration in new home approvals and construction since late last year that in more normal times the Reserve Bank's next move in interest rates would be an increase as it sought to control the pressures being built up in the volatile housing sector.
Consider the evidence. According to the Housing Industry Association, new home sales in April hit an 18-month high. In the April housing finance stats, finance for the construction of new homes hit the highest level in three years (since April 2010), while finance to purchase a newly built home hit the highest level since the middle of 2007, as there GFC started to erupt overseas (all seasonally adjusted) .
And last Thursday's building approvals for May seasonally adjusted new private house building approvals rose 2.5% in May, to be 11.6% higher over the year (10% in trend terms). That's the strongest rate for more than two years, and the number of approvals -- 8113 (seasonally adjusted) -- was the highest since March 2011.
Private house approvals have now risen in each of the past five months, and with some states continuing their grants for first-home building, (NSW's changed on July 1 from first-home buyers to first-home builders only), it's clear that the the long-awaited rebound in this industry is now underway, although it is happening slowly.
The extent of the boom can be seen by comparing the year to May rise of 11.6% rise (seasonally adjusted) with the 3.8% fall in the year to December (i.e. for all of 2012).
Many media reports concentrate on overall approvals, but they continue to be volatile, influenced by the bunching of local government approvals each month (or delays) for units, apartments and townhouses. For example, overall dwelling approvals (which include units and apartments, townhouses, etc) fell 1.1% in May after a 9.5% rise in April. That was because of a 9.8% fall in non-house private dwelling approvals in May, against the 18% rise in April.
Looking at the states, the ABS said that in NSW the trend estimate for the number of private sector houses rose 2.6% in May and has risen for 14 months, in Victoria it was up 2.3% and has been rising for four months, while in Queensland there was an 0.1% rise and it has been rising now for five months. In WA it rose 1.2% and has been rising for 11 months, while in South Australia it rose 2.2% in May and has also been rising for the past 11 months.
In his <a href="https://www.rba.gov.au/speeches/2013/sp-gov-030713" target="_blank">speech in Brisbane last Wednesday</a>, Reserve Bank governor Glenn Stevens pointed out the extent of the gathering surge in housing activity.
"Dwelling investment has been low for an unusually long period, with at least some households intent on reducing debt, thereby strengthening balance sheets. Households have accumulated a good deal of cash as well over recent years. Meanwhile, population growth is quite solid and it has been picking up a bit of late. If anything, we will need to build more dwellings than we have been over recent years. Meanwhile, interest rates are low, dwellings are more ‘affordable’, and finance approvals for housing purchases have risen by 16 per cent over the past year."
The purchase of existing homes hardly adds to economic growth. But the financing and construction of new homes (and units, townhouses, etc) adds real value and is a big growth driver. And it's exactly the transition the RBA wanted to see follow the peak of the mining boom.
This article originally appeared on <a target="_blank" href="https://www.crikey.com.au/">Crikey</a>.
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Rise in financing and construction of new homes is the transition the RBA wants

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The Wentworth Courier has reported that light rail could run through Bondi Junction's Oxford St Mall in seven years, if a Waverley Council proposal is approved.
<a target="_blank" href="https://newslocal.newspaperdirect.com/epaper/viewer.aspx">The paper</a> says public consultation about a light-rail route from Bondi Junction to Bondi Beach will begin this year.
<a target="_blank" href="https://twitter.com/TheWenty"><img alt="tweetofthedayjuly10one" height="70" width="470" src="/images/stories/2013/07/tweetofthedayjuly10one.jpg"></a>
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Wentworth Courier says trams could return to Bondi Beach

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Yesterday was a hot sunny day in London, where I've been attending auctions.
It's quite clear that in this part of the world the quality suburbs of London remain smoking hot, but the areas away from London are still struggling to gain momentum even after half a decade, although there are signs at long last of an upturn.
Thanks to the UK Government's 'Help-to-Buy' scheme, Bovis Homes today reported a 60% y/y surge in sales as the market is steadily being re-inflated.
Meanwhile back in Australia, RP Data releases figures which show that the most affordable 25% of capital city suburbs have outperformed the remainder of the market over the past decade.
<img alt="WargentJuly10one" height="340" width="470" src="/images/stories/2013/07/WargentJuly10one.jpg">
Source: RP Data
It's difficult to avoid make sweeping generalisations here, of course, but this is broadly what we might expect to see at this stage in the cycle, given the below:
<img alt="WargentJuly10two" height="396" width="470" src="/images/stories/2013/07/WargentJuly10two.jpg">
 
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In 2008, the official cash rate in Australia threatened to increase back towards the levels seen pre-1993 (it was hiked to 7.25% on 5 March 2008) which was the year of the introduction of the target inflation rate. But since that date, the cash rate has plummeted to record lows.
In fact the cash rate in Australia has fallen from an eye-watering 17.50% in January 1990 to a record recent low of only 2.75% on 7 May 2013. With households able to source incredibly cheap credit at low mortgage rates (as low as 5% or even less today), this has lead to easily the most material gearing up in the history of Australian households.
<img alt="WargentJuly10three" height="422" width="470" src="/images/stories/2013/07/WargentJuly10three.jpg">
I'd suggest that anyone who looks at this chart and thinks that homebuyers Australia-wide are preparing themselves for a major and sustained boom in credit growth might be ever-so-slightly optimistic.
We know that Australia, just as in many other countries, saw banks and lenders dishing out 100% mortgages in the period leading up to 2008, so there is likely to be some bad news in the post in the more affordable segments of the market as and when interest rates revert towards the historical mean.
As noted by RP Data, the premium sector of the market tends to be the most volatile, whilst for the past two cycles, the most affordable properties have been the most stable. The problem here is that their chart only goes back to 1998 and therefore does not go back far enough to show what happens to lower demographic suburbs when interest rates rise. Traditionally, and if overseas markets are a useful guide, prices get clobbered as mortgage stress is experienced.
The good news for property die-hards is that Australia has to date been perhaps unique in developed world economies. We have not experienced a recent major property downturn in the capital cities and we haven't had a recession for some 22 years and counting. And long may that economic record continue.
However, property is not a magical risk-free asset class and all countries experience property downturns - and when this happens, markets with a strong proportion of investors are likely to be those which hold up best. I wouldn't want to be holding property in the cheapest markets where people tend to live through necessity rather than through choice.
Instead, I have a strong preference for markets where investors look to at the first sign of a recovery and where foreign funds will flood - close to the centre of the major capital cities.
Some properties in affordable areas will be represent good investments, but be very wary of properties with seemingly attractive high yields and that are in low demand. I've seen properties for sale here in England in small towns for the price of just one pound, and you've probably heard of similar stories from regions of the US.
 
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Finding new hotspots
In recent months I've had some long, drawn-out  discussions with an experienced property buyers agent who is in the market daily about this very topic.
Naturally, I understand the theory that instead of buying where everyone else is rushing to buy, you may wish to buy in a regional centre where 'no-one' is buying - in the hope that they might soon do so because of, for example, new government infrastructure, projected employment growth or perhaps a nearby mining project.
The problem with this is that when people migrate to an area to work, they very often do not buy, they rent. And when they do buy (if they remain in the region), they do so to settle based on their earnings which tend to be in line with others in that area.
The only way in which prices are generally going to be pushed higher and ahead of wages growth is if you can anticipate a swathe of speculation which itself generates a larger influx of accelerating debt - and if you get that, you'll usually get new home building, which increases supply and masks the actual price increases (showing instead only median price increases).
Mining towns exhibit many of these traits. Price increases can often be fuelled by investors who may profit if they get their timing right (risky). Those who work in the town often save their money and instead invest it in property in the capital cities.
When will this property cycle end?
RP Data shows that all capital cities have recorded price gains over the past 12 months, values being  pushed up by the record low interest rates. Gains have been strong in Sydney, Darwin and Perth, but weak in Adelaide and Brisbane.
When will the cycle end, if indeed in the unlikely event that it ends coterminously in all cities? Impossible to say and anyone who claims to know is fibbing.
It could be in just a couple of months' time when Mr. Rudd calls an election. It could be in 2014 as the RBA starts to hike interest rates. It could be later in 2014 as unemployment starts to ratchet up (job losses also hurt affordable market sectors disproportionately, so let's hope this doesn't happen in Australia). Or perhaps the cycle will even run for 18 months or more.
In any case, whenever Australia's next significant downturn occurs, expect the broad middle market in supply-constrained capital city suburbs to hold up best. They usually do.
Pete Wargent holds a range of finance and property qualifications and is the author of <a rel="nofollow" href="https://petewargent.blogspot.com.au/" target="_blank">Get a Financial Grip – a simple plan for financial fr</a><a rel="nofollow" href="https://petewargent.blogspot.com.au/" target="_blank">eedom.</a> 
 
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The middle market will hold up best during the next Australian property downturn: Pete Wargent

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A higher-than-average delinquency rate by homeowners on the Mornington Peninsula in the 18 months to the end of March, was one of the main finding in the Fitch study on mortgage deficiency by postcode to the end of March. Mornington Peninsula was the third worst-performing region in Victoria with a delinquency rate of 1.66%. 
This comes despite a stable unemployment rate and stable house prices. Fitch analysed about 240,500 mortgages Australia-wide for an equivalent amount of $43 billion for this study.  Generally, though, Victoria continued to perform well in terms of mortgage arrears, with an overall delinquency rate of 1.29%. This was lower than New South Wales (1.58%) and Queensland (1.58%).  Melbourne performed in line with the rest of Victoria, with a delinquency ratio of 1.25%.  Mortgage performance in Victoria has not changed significantly over the past three years to the end of March. 
The state’s strengths include a stable and diversified economy, satisfactory affordability, and a low unemployment rate. The property market experienced considerable growth from 2008 to late 2010, before declining in 2012 and 2013.  As of the end of March, property prices in Melbourne are still 7% down from their peak in late 2010, but are at the same level as of the end of March 2010.  The unemployment rate in Victoria was 6.2% at the end of March this year, in line with historical levels. Unemployment remains low, the GDP stable, and affordability high, so Fitch does not expect a significant change in delinquency rates in Victoria in the near term.
Recent mortgagee listings and sales on the Mornington Peninsula: Under instruction from the mortgagees, Ray White Chelsea will auction <a target="_blank" href="https://www.realestate.com.au/property-house-vic-bonbeach-114210179">36 Royal Road, Bonbeach</a> (pictured below) on Saturday, July 27 at 11am. The weatherboard on 583 square metres is handy to the beach, shops and station.
{yoogallery src=[images/stories/2013/07/july10bonbeach]}
The interior has been renovated with three bedrooms plus a study, modern kitchen with stainless steel appliances and glass splashbacks, open plan lounge room all with polished floorboards. There’s ducted heating and cooling. Hocking Stuart Frankston is hoping to reap $420,000-$585,000 in a mortgagee sale for <a target="_blank" href="https://www.realestate.com.au/property-townhouse-vic-seaford-114198983">39-41 Nepean Highway, Seaford</a> (pictured below) . The townhouse, in a group of 20 named Twin Waters, has three bedrooms, two bathrooms and two car spaces.
{yoogallery src=[images/stories/2013/07/july10seaford]}
The development includes a mixture of two and three storey residences, some with bay and creek views. It has bamboo flooring, stone bench tops, stainless steel appliances, air conditioning, double car accommodation, private courtyards/balconies. The beach is across the road, and schools, shops, transport and parkland nearby. Sandra Dunbar Real Estate, McCrae, recently sold <a target="_blank" href="https://www.realestate.com.au/property-mixed+farming-vic-boneo-7536059">490 Boneo Road, Boneo</a> (pictured below), on the Mornington Peninsula, for $1.5 million in a mortgagee sale. 
{yoogallery src=[images/stories/2013/07/july10boneo]}
The 1860 farmhouse, Glenlee, is on 12.3 hectares.The iconic property is perfect for farm stay, farming or equestrian. It’s close to schools, shopping, wineries, golf courses and bay and ocean beaches.
It’s fully fenced with manageable paddocks, one with fruit orchard and the rest open to grazing. The historic outhouses, sheds and shelters support the property’s use.
Aerial image courtesy of Frankston Visitor Information Centre.
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Higher than average delinquency rate for Mornington Peninsula: Fitch

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This Sunday I am flying out to Thailand to get away from this bloody cold weather. When I booked my trip a few months ago I though my timing was perfect as the Aussie dollar was flying high.
However, just three months later it has fallen back to earth. I don’t tell you this to make you jealous of my trip but to me this is a clear sign fixed rates are at the bottom of the cycle.  
A high Australian dollar is not good for the Australian economy because our exporters products look less appealing to international buyers. This in turn puts pressure on manufacturing industry and unemployment.  
Higher interest rates in Australia in comparison to the rest of the western world makes our dollar an attractive safe haven in uncertain times as it will produce a higher return.  
The RBA really only has one tool at its disposal to put downward pressure on the dollar and that is to lower interest rates and this has been a large part of their thinking in recent times.  
A combination of lower interest rates and the announcement from the US Federal Reserve that they plan to stop quantitative easing (read print more money) has lead to a sharp fall in the Aussie dollar.  
The graph below illustrates how quickly it has slid. The dollar was above $1.05 US dollars less than three months ago and now sits around 91 cents. This means the purchasing power an international buyer of our products has had a 10% boost and in theory this should give our exporters a kick start.        
<img alt="ArmstrongJuly10one" height="208" width="470" src="/images/stories/2013/07/ArmstrongJuly10one.jpg">
On the other hand we do not want to see the Aussie dollar fall to far as this will mean many of our imports, including the laptop I am writing on, will become more expensive.  For the RBA it is like walking a tight rope and it is vital they get the balance right.
The fall in the dollar will take pressure off interest rates and will bring closer the time when the RBA begins to lift the cash rate. It is not a question of if they will lift rates but simply when.  
This is where the banks come into the frame. Their job is to project into the future to determine where rates will be at some future date. The price they pay for money will be based on these projections and this will have an impact on the price they sell it to you and me.  
Last Friday we saw an indication of what they are thinking as the ANZ bank lifted their three-year fixed rate from 4.99% to 5.19%.  This could mean the bank has sold all its cheap money and is now hedging its bets or they are stepping back from these fixed rates.  
While the other major banks are yet to follow I think this is a clear sign that now is the time to lock in.  
Warren Buffet lives by an investment mantra that says ‘I would rather be vaguely right than precisely wrong’. His investment philosophy is to use all the available information at his disposal to make educated decisions that mean he might not get the timing right every time but he is happy to be close enough to work in his favour.  It is now close enough!  
Mark Armstrong is a director of <a href="https://www.ipropertyplan.com.au/">iProperty Plan</a>, which provides independent analysis and tailored advice to investors and home buyers.          
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Lower Aussie dollar continues to put pressure on interest rates: Mark Armstrong

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The 2013 commercial property market continues its trend of revival with increased activity levels and record sales, according to First National Real Estate’s Mid Year Outlook.
However, the growing trend for tenant incentives - in the form of discounting - is expected to continue into the second half of 2013, according to 68% cent of First National commercial members.
“Commercial tenants have the upper hand in current conditions, with landlords resorting to offering tenant incentives of up to 30% across the Melbourne, Sydney and Brisbane office markets in a bid to retain them,” CEO Ray Ellis says.
According to the survey, members expect the rural/regional property market to perform steadily over the coming six months, however, there is still residual weakness from the recent difficult market conditions.
“The subdued market is seen as the result of the ongoing tough post-GFC lending conditions, supply and demand ratios, and the low interest rates that are propping up the market,” Ellis says.
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Revival of commercial property market continues: First National

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Popular Perth nightspot the Claremont Hotel could be getting new owners.
Its current owner Barry Jones, director at Gretna Nominees, is <a target="_blank" href="https://www.realcommercial.com.au/property-retail-wa-claremont-500800879?listingType=buy">seeking expressions of interest in the property</a>, with a view to either leasing or selling it.
The original hotel dates back to 1886 and then became a grocery store and later a bakery, before being turned back into a hotel in 1902.
In the 1920’s the hotel traded as McManus’ Hotel and Fink’s Hotel. In recent times its been the Continental Hotel and Redrock hotel, before becoming the Claremont Hotel after a refurbishment in 2002.
The building is situated in a prime location on the corner of Bayview Terrace and Gugeri Street, just nine kilometres from the Perth CBD. Its adjacent to the Claremont Quarter Shopping Centre and opposite the Claremont Train Station.
The 1,263 square metre property sits on 1,659 square metres of land. It comes with a tavern licence.
The two-storey hotel offers a variety of indoor and alfresco areas, which can be used for private functions or public dining.
Colliers International agents Mark Werrett and Ben Tana have advertised it as being suitable for refurbishment or redevelopment.
Expressions of interest close on August 16.
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Perth's historic Claremont Hotel seeking expressions of interest

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A key trend in the commercial property market this year will be the rise of the foreign investor, according to First National Real Estate’s Mid Year Outlook.
“Foreign investment in Australia’s property market has continued to increase on the back of the country’s stable economy and high yielding assets, with Asian buyers leading the charge,” CEO Ray Ellis says.
Another trend is the rise in the number of people buying property through their superannuation funds, which 76% of members tip will increase in the coming six months.
Ray Ellis says 2013 has been hailed as ‘the year of the property investor’ with interest rates now below rental yields in many areas and attracting investment.
“According to our members, the rental market in Australia will continue to be relatively tight, with little room for movement,” he says.
“Ongoing strong demand will tighten the market even further, with vacancy rates stretched to their limits in many areas.
“This will continue to place upward pressure on weekly rental prices.  However, given the strong affordability of housing at the moment, there is not much more the market can bear in terms of weekly rental prices.”
Queensland and Western Australia lead the anticipated weekly rental price increases, followed by New South Wales, Victoria and then South Australia.
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Commercial property market rising with foreign investment and superannuation funding: First National

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A tenant’s annoyance at having to pay an extra $1.65 in direct debit fees on top of his monthly rent prompted him to go to VCAT – and have it scrapped.
The case is significant because it’s believed thousands of landlords – through a third party - are collecting rent online or by phone via direct debit. This incurs a fee which the tribunal has ruled is unjust.
And that decision – by VCAT deputy president Ian Lulham - has thrown the legalities of the whole direct debit rental payment system into question.
‘’Clearly, I have concluded that the strength of (tenant) Mr Palmer’s claim in this proceeding is overwhelming,’’ Mr Lulham told the tribunal.
Michael Palmer, 41 leases his property through Ray White Real Estate for $2303 a month. After several months he was puzzled to see on his bank statements that an extra $1.65 was being deducted with each rent payment.
That caused him to take the landlord to VCAT to seek a refund of eight payments of $1.65 and damages of $3355.35.
At the hearing, VCAT heard that Mr Palmer had originally signed a consent form allowing a monthly direct debit of the rental – and that the system being used provided for a non-refundable transaction fee of $1.65 to a third party service.
But Mr Lulham ordered that, under the Victorian Residential Tenancies Act 1997, landlords could not demand from tenants a fee or charge relating to the establishment or use of direct debit facilities for rent payments. They should absorb the costs themselves.
He ordered that the landlord pay Mr Palmer $13.20 and $38.80 costs. He dismissed the tenant’s claim for damages and referred the matter to Consumer Affairs Victoria.
Lisa Pennell, of Ray White Corporate, said the company’s legal understanding was that, provided the tenant has the choice of paying via direct debit through the service, it could keep charging a fee.
‘’We’ve asked to meet with CAV and we’ll wait and see what they have to say before making a final decision,’’ she told Property Observer.
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The $1.65 direct debit Victorian weekly rental payment system dispute

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The logistics property firm, Goodman Group has raised €550 million ($775 million) for its Goodman European Logistics Fund (GELF).
Investor interest was strong for the €1.9 billion GELF, which is Goodman’s largest European investment vehicle with 95 assets in 11 countries.
Earlier in the year it raised another €550 million in its first Eurobond issue. With the new debt and equity the fund has an €800 million capacity for further investment.
“The overwhelming demand for the equity raise reflects the fund’s high quality portfolio and the attractiveness of the European logistics property market to large institutional investors,” the CEO Greg Goodman said.
Emmanuel Van der Stichele, the GELF fund director said with its pan-European diversified portfolio GELF presented an "exceptional opportunity" to invest in the European logistics real estate market.
"We intend to use the proceeds to further strengthen our market position and the ongoing diversification of our portfolio, with a focus on prime assets in key European logistics locations." Mr Van der Stichele added.


As at March 2013, GELF’s occupancy rate stood at 97%. The portfolio has a weighted average lease expiry (WALE) to first break of 4.9 years.
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