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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According to the Australian Bureau of Statistics (ABS), Australia’s population grew to record 22.9 million people now living in the country at the end of 2012.
The growth was driven by strong net overseas migration which accounts for 60% of the total population growth.
A record number of births added to the annual tally.
This figure now equates to an increase in Australia’s national annual population growth of 1.75% over the December 2012.
While the Australian Bureau of Statistics (ABS) recorded 22.9 million residents at the end of last year, a more recent estimate of the current population can be seen in the ABS Population Clock which is currently indicating a national population of 23.094 million residents.
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Victoria trumped the pack as the state to record the highest levels of population growth across the country’s states and territories for the 2012 calendar year where an additional 99,548 residents now reside in the state.
Overseas migration accounted for 56.4% of the state’s growth, however, a larger than average proportion of Victoria’s population growth was from natural increase (41.8%), while a very small proportion can be attributed to interstate migration flows (1.7%).
Queensland recorded the second largest number of new residents at 92,453, followed by New South Wales where there were 90,441 more residents over the year.
The contributing components of population growth were quite different between Queensland and New South Wales.
While both states are sourcing the majority of their population growth via overseas migrants, Queensland has historically recorded a substantial net interstate migrant inflow; last year 11,354 net new residents moved to Queensland from other Australian states while New South Wales lost a net 17,761 residents to other states.
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In raw numbers, Western Australia recorded the fourth largest number of new residents (+83,031) but was the state to record the fastest rate of population growth by quite a wide margin.
At almost twice the pace of the national average, Western Australia’s population increased by 3.5 % over the 2012 calendar year and has attracted the third largest number of net overseas migrants with 52,306 new permanent or long term residents moving to Western Australia over the calendar year.
The Australian Capital Territory (ACT) also recorded a rapid rate of population growth, up 2.3 % over the 2012 calendar year; the second fastest growth rate of any state or territory.
With the impending election and possible cuts to the Federal Government labour force, we would presume this rate of population growth is likely to slow during 2013.
Tasmania and South Australia recorded the least amount of population growth, up by 0.9% and 0.1% respectively.
Interstate migration has been a drain on both states with a net 2,650 Tasmanian’s moving to another state or territory and 3,345 net South Australians moving interstate over the year.
Nationally, Australia’s population growth is comprised of the net rate of overseas migration plus the rate of natural increase that is births minus deaths.
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Overseas migration is the most significant contributor to population growth, equating to 60% of national population growth.
The rate of natural increase has seen a substantial rise due to a large number of new births and a decline in the number of deaths over the year.
There were 305,400 births in Australia over the past twelve months, the largest number on record.
Tim Lawless is national research director of <a href="https://www.myrp.com.au/" rel="nofollow" target="_blank">RP Data.</a>
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tlawless-5VLUrbAk9s

WA population growth rate almost double the national average: Tim Lawless

A big crowd turned out on Saturday for the weekend auction of Natalie Bassingthwaighte&rsquo;s Elwood period investment property.

Five bidders fought it out from a starting bid of $850,000 followed by a vendor bid of $1 million. The auctioneer took increments of $20,000, $10,000, $5000 and then $1000 until the property was passed in at $1.18 million.

Matt White, of Ray White Port Phillip, said negotiations then continued inside until the deal was clinched at &quot;more than $1.2 million&quot;. He would not disclose the exact price.

White said a Brisbane-based banker bought the property and his family will alternate between there and Elwood.

Bassingthwaighte - a&nbsp;pop singer, actress and X Factor Australia&nbsp;television judge - bought the Clarke Street investment property for $595,000 in 2005.

The three-bedroom, two-bathroom period&nbsp;home has an open plan living/dining area opening to a covered deck with open fireplace and&nbsp;courtyard. It has Miele kitchen appliances with breakfast bar, corian bench tops and&nbsp;concealed fridge/freezer.

An upstairs parents&#39; retreat comes with dressing room and en suite bathroom through to a nursery/study.

Features include&nbsp;hydronic heating, air conditioning, Bose surround-sound, under-stair storage, ceiling roses, chocolate-toned floorboards and&nbsp;plantation shutters.

Bassingthwaighte and her husband, former Rogue Traders band mate, drummer Cameron McGlinchey, has reportedly spent about $2.25 million on a four bedroom, two bathroom Federation house on&nbsp;one of&nbsp;Brighton&#39;s top 10 streets. It&rsquo;s 400 metres from&nbsp;the beach, Church Street shops, cinema and railway.

A&nbsp;neighbouring three bedroom, one-bathroom house in Clarke Street sold for&nbsp;$896,000 in May 2010.

Last year Bassingthwaighte&nbsp;sold her Elizabeth Bay apartment in Sydney for $850,000.

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Natalie Bassingthwaighte's Elwood period investment property sells at auction

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It might not come as a surprise that most CBD dwellers are young, in Melbourne 67% are less than 35 years old. Most live in households of only 1 or 2 people, many rent and most are very well educated, but income profiles are not remarkably different from the wider population.
So it is safe I think to assume that we are dealing with a ‘Young and Restless’ market, but a more detailed picture is evident if we start to look at these headline trends in more detail. I also think it is very clear that large markets like Sydney and Melbourne contain various sub-markets that we need to understand and accommodate in our marketing decisions.
Avoid the stereotype
In lots of marketing material for new projects I find myself reading what appears to be a fairly standard project outline that starts of with copy something like this – ‘our aim is to create a living, functional community reflecting this vibrant location, that appeals to a mixed demographic creating a unique place to live’ – fair enough I guess, but possibly a little lazy and in the case of many CBD projects I suggest a bit obsolete.
To help establish a more robust descriptor here are some key facts about the age profiles of CBD residential markets in Sydney, Melbourne and North Sydney. The figures show a clear trend, but I do not think the figures should be seen as universal, but they do show a strong correlation.
Young and passing through
In the Melbourne CBD, according to figures published by the City of Melbourne, the three biggest age brackets are 20-24, 25-29 and 30-34 and this is why 67% of CDB residents are less than 35 – clearly a young market, where it would be reasonable to assume the bright CBD lights are the key attraction, along with access to higher-education.
In Sydney the picture is similar, the two biggest age brackets for people moving to the CBD are 18-24 and 25-34 and it’s the same for North Sydney. These two markets also share another key population measure that is prominent.
The biggest age bracket when people make the move out of the CBD to another market is in the age bracket 35-44, plus there is a not to be unexpected link to the 5-11 years group which could well be families leaving the CBD, and this is reinforced by where this group moves to, which I will return to as the trends there may directly impact marketing tactics.
Another key age bracket in the Sydney and North Sydney CBD market is the high number of arrivals in the 55-64 age range, and this group while not the largest by any means is notable because it is growing. Both the Sydney and North Sydney markets and this is equally true of Melbourne now have market precincts that would attract older buyers.
The Sydney CBD market in particular now has some clearly established precincts that offer their own distinctive ‘brand of CBD living’ and that trend is set to continue. These sub-markets or sub-brands include the north, the sandstone belt, south, Chinatown and waterfront locations and these locations will become more distinct as the city grows and buyers become more choosy.
While some high-end projects attract a lot of attention the percentage of rented accommodation also aligns to the fact that NSW now generates some $5.8billion in education exports, and students have a big impact on the CBD market and its investment appeal.
CBD migration
The population gains and losses of the CBD markets are also strong marketing pointers that send a very interesting message. The trends are very useful when planning how to engage with the demographics that are playing out.
In the case of North Sydney when people leave the CBD area they tend to stay on the North Shore or go to the Inner West, where families looking for a traditional home might be attracted and still keep some connection to their former homes. Then when we look at where buyers move from into the North Sydney CBD market we see this movement coming from the North Shore and the Inner East.
If we look at the City of Sydney this movement, while similar in structure, is slightly more diverse. People leaving the CBD appear to move to areas with traditional housing and within the top five destinations, more possibly affordable housing and given that some of those leaving will now have children, access to schools.
And so we see our CBD population move to the Inner West and to a number of closer suburbs in Sydney’s South. Those moving into the CBD come from a mix of locations as well, including from the South, Inner East, Upper North Shore and The Hills District – the diversity of locations is perhaps not surprising given that the Sydney CBD market is also a very mixed residential market. It is no longer just a particular cluster of buildings, it has wider and evolving appeal including to older buyers 55-64.
The picture thus far
CBD markets are at first glance seen as diverse places, but rather like our marketing copy suggests, the CBD market is still evolving. We already know it is a young market, where most people live on a 1 or 2 person or 3 and 4 person household, but thereafter around the age of 35-44 make a move away. Facilities are important, it’s an attractive rental market, but it also appears that’s how residents relate to services and facilities may be very different. After all the CBD is still very much a shared ‘experience’ – with residents alongside office blocks and big numbers of workers and visitors moving in and out of the city daily.
Having taken this brief snapshot of the CBD market, in my next post I will detail some of the feedback and comments from recent Sydney buyers. It all goes to further reveal how our CBD residential markets are changing and managing their growing pains and how as project marketers we need to stay attuned.
Peter Chittenden is managing director for residential of <a href="https://www.colliers.com.au/Colliers%20Corporate/Residential.aspx" rel="nofollow" target="_blank">Colliers International.</a>
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A snapshot of young city dwellers: Peter Chittenden

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The auctions market has ended the financial year on a solid note, with first-home buyers rushing to take advantage of federal and state-based grants before they are downgraded.
But one expert says the next financial year may not differ so much from the last, in that investors and buyers should expect a slow, drawn-out recovery rather than any short, frantic bursts of improvement.
"We're not expecting any major recovery for the Melbourne market," SQM Research managing director Louis Christopher said.
As for the rest of the country, Christopher's opinion was unwavering – most capital cities will perform over the next 12 months as they have in the past year, assuming interest rates and the dollar remain relatively stable.
"We're still expecting any recovery to be modest and moderate," he says.
According to the Real Estate Industry of Victoria, Melbourne recorded a clearance rate of 73%, compared to 69% last weekend and 55% during this weekend last year.
"The slight increase in the clearance rate this week may be due to the first-home owners grant for established dwellings coming to an end on the 30th, June 2013," chief executive Enzo Raimondo said in a statement.
Various changes are being made to state-based first home owners' grants, including in Victoria and Queensland.
Such changes mean the first home owners' market is likely to taper off over the next few months, Christopher says.
"Melbourne is likely to track Sydney's changes in that regard, meaning there was a drop off in first-home buying over the few months after those changes came into effect.
"There was also a slow and gradual build up after that period."
As for the rest of the year, Christopher says there isn't much reason to expect anything other than what we've seen in 2012-13. Melbourne is tipped to record 2-5% capital growth during this calendar year, while Sydney "is the market we're most bullish about".
"We're seeing fairly strong pricing action now," he says, with more expected in the next few months.
Canberra, however, is expected to remain under pressure, while Christopher says Brisbane is simply "treading water".
"There is no major recovery with lots of stock in the market...and that's likely to continue in the remaining half of the year."
This article first appeared on<a target="_blank" href="https://www.smartcompany.com.au/property/056271-auctions-strong-as-first-time-buyers-spend-big-for-last-minute-grants"> Smart Company</a>.
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Victorian first home buyer's market set to taper off: SQM

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Residential property was a solid investment play in the 2013 financial share as shares soared but gold took a plunge.
Depending on where you invested, the property market provided investors with total returns – rent plus capital gain - ranging from 3.5% in Hobart to 12.7% in Darwin, according to RP Data-Rismark.
Total property return of 8.5%
The aggregate total return across the eight capital cities was a solid 8.5% with Perth and Sydney both returning in excess of 10% with Melbourne managing just 7.3%.
RP Data-Rismark recorded capital city dwelling prices up 3.8% for the financial year, substantially better than the 3.6% reduction recorded over the 2012 financial year.
A-REIT total return of 24.2%
Arguably the best place to put your money in the listed property trust sector. 
According to Goldman Sachs A-REITS analyst, the S&amp;P ASX200 XPJ index (A-REIT sector) was up 17.4% over 2013 on a share price basis.
If you include dividends, the sector generated a total return of 24.2%.
Shares up 14%
Outside of the listed property space, putting your money in shares was a good option with the ASX rising 14% over the course of the year from 4,133 points to 4,802.
ASX 200 up 17%
Gains were even stronger across the ASX 200, with share prices up 17% across the benchmark index, the highest total returns since the global financial crisis.
Super returns likely around 15.5%
In line with the stronger share market, super funds also thrived. 
Forecasts are for growth super funds to generate a median return 15.5% for the year to June 30, according to super research firm Chant West. This would be highest single financial year return in the past 16 years. Balanced funds are forecast to return 12%.
Cash deposits returning 3.24%
For investors with no risk appetite, putting you money in the bank generated a return of just 3.24% according to the UBS Bank Bill, which is a proxy measure for returns from cash.
Gold values down 25%
Gold was not a good investment option in the past 12 months with values falling 25%.
The precious metal started the year at $US1600, rose to US$1,800 in October, but then started falling in April and is currently trading at around US$1,200 per ounce.
Aussie dollar down 8%
And holding Australian dollars was also not a good bet with the currency falling 8% from parity at the start of the financial year to just under 92 cents currently.
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Residential property’s steady rise as gold sinks: Daily Property Observer list

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The median value of a Sydney apartment reached $500,000 for the first time in June.
RP Data-Rismark records a 2.7% rise in the median Sydney unit value to exactly $500,000.
Sydney units provide investors with a gross return of 7.6% and a yield of 4.9%.
This equates to weekly rent of around $470 per week.
Despite this new milestone being reached, Sydney unit growth was outpaced by Sydney houses, which rose 6.3% year-on-year. 
The gap is narrower over the past six months with Sydney house values are up 4.8% while unit values have risen by a smaller 4.0% notes RP Data research director Tim Lawless.
"The results come as a bit of a surprise considering investors are one of the most active segments across the Sydney market and rental yields tend to be higher for units compared with houses. 
"Potentially one of the drivers of the detached housing market performance is the fact that this segment of the market saw a larger correction in values between late 2010 and mid 2012; house values were down 6.4% compared with a 3.6% fall across the unit market," Lawless says.
Weekly rents across five capital city markets for June
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="154">
 
</td>
<td valign="top" width="154">
Houses
</td>
<td valign="top" width="154">
Units
</td>
</tr>
<tr>
<td valign="top" width="154">
Sydney
</td>
<td valign="top" width="154">
$535
</td>
<td valign="top" width="154">
$470
</td>
</tr>
<tr>
<td valign="top" width="154">
Melbourne
</td>
<td valign="top" width="154">
$400
</td>
<td valign="top" width="154">
$377
</td>
</tr>
<tr>
<td valign="top" width="154">
Brisbane-Gold Coast
</td>
<td valign="top" width="154">
$420
</td>
<td valign="top" width="154">
$374
</td>
</tr>
<tr>
<td valign="top" width="154">
Adelaide
</td>
<td valign="top" width="154">
$339
</td>
<td valign="top" width="154">
$284
</td>
</tr>
<tr>
<td valign="top" width="154">
Perth
</td>
<td valign="top" width="154">
$438
</td>
<td valign="top" width="154">
$412
</td>
</tr>
</tbody></table>
Source: Extrapolated from RP Data-Rismark yields and median values for June 2013
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Sydney unit value hits $500,000 for first time with 4.9% yield

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Capital city property values rose 1.9% in June led by gains in Sydney and Melbourne, according to the RP Data-Rismark Home Value Index.
Sydney dwelling values rose 2.7% over June to a median of $580,000 with Melbourne values up 2.3% to $512,000.
The June result means property values ended the financial year up 3.8% regaining all the ground lost over the 2012 financial year, when values fell 3.6%.
Property values have now recovered 4.9% of the 7.4% correction in dwelling values since the market bottomed out in May last year.
Over the course of the financial year, the strongest performing capital city property markets are Darwin (+6.1%), Perth (+6%), Sydney (+5.6%) and Melbourne (+3.4%).
The weakest markets are Hobart (-1.8%), Adelaide (+0.2%) and Brisbane (+0.6%).
Looking across detached housing, Sydney and Perth house values are up 6.3% over the 2013 financial year with Darwin house prices up 6.1%.
In the unit market, the strongest gains are for Darwin units (+6.4%) and Melbourne (+4.1%). 
<img height="403" width="470" src="/images/stories/2013/larry_uploads/rp_date_june.jpg" alt="rp_date_june">
The June pick-up wiped out the 1.7% cumulative fall over April and May, with values up 0.2% for the quarter.
“The capital gains recorded over the financial year highlight that lower mortgage rates are starting to have a positive impact on the housing market,” says RP Data research director Tim Lawless.
However, he adds that current conditions are “far removed from the buoyant conditions experienced in 2009”.
The quarter-on-quarter results for June were largely driven by a strong result in the largest capital city, Sydney.
Melbourne and Brisbane recorded a slight fall in dwelling values over the quarter while the decline in Hobart, Darwin and Canberra was more significant.
<img height="219" width="470" src="/images/stories/2013/larry_uploads/RP_Data_june_figures.jpg" alt="RP_Data_june_figures">
Each capital city housing market excluding Hobart, where values have fallen by -1.8%, has recorded an increase in values over the past year.
Annual capital gains have ranged from as little as 0.2% in Adelaide to as much as 6.1% in Darwin and 6% in Perth.
For investors, the highest rental yields are for Darwin houses and units with gross rental yield of 6.2%.
The lowest rental yields are Melbourne houses with gross rental yield of 3.7% and Melbourne units at 4.4%.
Lawless says that while there has been some natural volatility in the month-to-month readings of the RP Data-Rismark Index, the trend is much more indicative of an ongoing recovery in dwelling values.
Rismark International CEO Ben Skilbeck says the index highlights that housing markets do show intra-month and intra-quarter volatility (though very low when compared to the share market).
However, when the index is examined over a longer period, such as the last 3 months, “recent index results highlight that capital gains remain relatively sluggish despite the presence of low interest rates and high auction clearance rates”.
Lawless points out that consumer confidence dipped over April and May before recording a rise in June.
“[However], data on labour markets is jumpy and housing finance data shows hardly any improvement in the average loan size.
“If confidence levels remain high and labour markets continue to show a low rate of unemployment then we would expect that home values will continue to trend higher, albeit at a relatively measured pace,” he says.
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Property market rebounds in June with values up 3.8% for the 2013 financial year

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The biggest financial news for most Australians in the past two years has been the falling cash rate and decreasing mortgage rates.
They’ve come down so far that you can get a variable rate mortgage in the low 5% range and some lenders have 2 or 3-year fixed rate mortgages as low as 4.99%.
But it’s been more complex for small and medium sized enterprises (SMEs). The Reserve Bank, in a recent report, said fees paid in household lending fell in 2012 to $4.1 billion, while bank fees in business lending rose 7% to $7.3 billion.
In another survey, banking analysts East &amp; Partners found that 43% of the SMEs surveyed experienced rate rises on their secured loans in the last six months. Just 0.8% had a rate reduction and 56.1% had no change in their rates. The average rate rise was 5.3%.
I support the workings of a free market, but we should be concerned when official interest rates drop to historic lows while businesses have rate rises.
It’s easy to make this a fight between big corporations and small business, or between big banks and the ‘mums and dads’.
But the problem could go deeper. Australia has so many small and medium sized enterprises (SMEs) – 99.7% of all businesses – that making them pay more for debt than other borrowers will eventually hit the general economy.
If a business pays more for secured debt than the going rate, one response is to raise prices to cover costs. If this reaction gains momentum among businesses, inflation rises.
A business may not be able to raise its prices but it can cut overheads such as reducing employees or cutting back hours and overtime. Given that small and medium sized businesses employ 70% of the private sector work force, this affects employment.
Also, small businesses constrained by the cost of debt find it harder to grow, and then we lose a vital offset to the oligopoly power of corporations – an offset that we all profit from in consumer choice, service and prices.
Here’s another problem: when a small business has cut as much fat as it can in the enterprise, then the owners tighten their belts in the family home. It’s a double effect because they don’t just contract as producers – they contract as consumers.
The worrying aspect of this is that while slightly more than half of the East &amp; Partners respondents said their rates hadn’t moved for six months, the RBA has tracked rising bank fees for business lending. Which means net increases for business owners.
Overriding this issue is the traditional reluctance of SME owners to change banks.
So, are businesses being squeezed by their banks with nowhere else to go? Or, is this a time to attend to the basics of business performance and seek out truly competitive lenders?
Which way will Australian business go?
I would love to know what you think. Talk to me on Twitter.
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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Residential interest rates are very attractive but business lending is more challenging: Mark Bouris

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One of the poorest performing major listed property trust over the 2013 financial year was the CFS Retail Property Trust, joint developer of Emporium Melbourne, which last week announced a $60 million write-down of this project.
It's share price is up just 4.1% over the course of the 2013 financial year.
The S&amp;P ASX200 XPJ index (A-REIT sector) was up 17.4% for the 2013 financial year on a share price basis, says Goldman Sachs A-REIT analyst Andrew MacFarlane. 
"If you include dividends (total return) then the accumulation index was up 24.2%," he says.
For the financial year, the share market ended the year up 17.2%
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="123">
Company
</td>
<td valign="top" width="92">
ASX Code
</td>
<td valign="top" width="132">
June 30/2012 share price
</td>
<td valign="top" width="145">
June 30/2013 share price
</td>
<td valign="top" width="72">
% change
</td>
</tr>
<tr>
<td valign="top" width="123">
CFS Retail Property Trust
</td>
<td valign="top" width="92">
CFX
</td>
<td valign="top" width="132">
$1.92
</td>
<td valign="top" width="145">
$2.00
</td>
<td valign="top" width="72">
4.1%
</td>
</tr>
<tr>
<td valign="top" width="123">
Investa Office Fund
</td>
<td valign="top" width="92">
IOF
</td>
<td valign="top" width="132">
$2.71
</td>
<td valign="top" width="145">
$2.91
</td>
<td valign="top" width="72">
7.3%
</td>
</tr>
<tr>
<td valign="top" width="123">
Westfield Retail Trust
</td>
<td valign="top" width="92">
WRT
</td>
<td valign="top" width="132">
$2.85
</td>
<td valign="top" width="145">
$3.10
</td>
<td valign="top" width="72">
8.7%
</td>
</tr>
<tr>
<td valign="top" width="123">
Commonwealth Property Office Fund
</td>
<td valign="top" width="92">
CPA
</td>
<td valign="top" width="132">
$1.01
</td>
<td valign="top" width="145">
$1.10
</td>
<td valign="top" width="72">
8.9%
</td>
</tr>
</tbody></table>
Correction: In an earlier version of this story, Property Observer reported that Leighton Holdings was the worst-performing A-REIT with 5% decline in its share price over the 2013 financial year. Leighton Holdings is not an A-REIT. It is a construction and engineering business.
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CFS Retail Property among poorest performing A-REIT share prices for 2013 financial year

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Charter Hall’s share price rose 70.4% over the course of the 2013 financial year making it the top performing major listed property trust.
The group has around $10 billion of funds under management across the office, retail, industrial and residential sectors.
It’s most recent significant transaction was to form a partnership with a local super fund and a Canadian pension fund to acquire <a href="https://www.propertyobserver.com.au/commercial/charter-hall-buys-bankwest-place-and-raine-square-in-perth-for-%24458-million/2013061962415">Bankwest Place and the associated Raine Square shopping centre</a> in the Perth CBD for $458 million, seeing off competition from both local and offshore investors.
Charter Hall has also been named as a bidder for a collection of assets worth around $250 million that make up the Australand Wholesale Property Fund No.6 (AWPF6).
Charter Hall’s share price closed at $3.87 last Friday having started the financial year at $2.27.
The S&amp;P ASX200 XPJ index (A-REIT sector) was up 17.4% for the 2013 financial year on a share price basis, says Goldman Sachs A-REIT analyst Andrew MacFarlane.
"If you include dividends (total return) then the accumulation index was up 24.2%," he says.
Top five performing A-REITS over 2013 financial year.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="123">
Company
</td>
<td valign="top" width="92">
ASX Code
</td>
<td valign="top" width="132">
June 30/2012 share price
</td>
<td valign="top" width="145">
June 30/2013 share price
</td>
<td valign="top" width="72">
%change
</td>
</tr>
<tr>
<td valign="top" width="123">
Charter Hall
</td>
<td valign="top" width="92">
CHC
</td>
<td valign="top" width="132">
$2.27
</td>
<td valign="top" width="145">
$3.87
</td>
<td valign="top" width="72">
70.4%
</td>
</tr>
<tr>
<td valign="top" width="123">
Cromwell Property Group
</td>
<td valign="top" width="92">
CMS
</td>
<td valign="top" width="132">
$0.69
</td>
<td valign="top" width="145">
$0.975
</td>
<td valign="top" width="72">
41%
</td>
</tr>
<tr>
<td valign="top" width="123">
Australand
</td>
<td valign="top" width="92">
ALZ
</td>
<td valign="top" width="132">
$2.47
</td>
<td valign="top" width="145">
$3.48
</td>
<td valign="top" width="72">
40.8%
</td>
</tr>
<tr>
<td valign="top" width="123">
Goodman Group
</td>
<td valign="top" width="92">
GMG
</td>
<td valign="top" width="132">
$3.67
</td>
<td valign="top" width="145">
$4.88
</td>
<td valign="top" width="72">
32.9%
</td>
</tr>
<tr>
<td valign="top" width="123">
Mirvac
</td>
<td valign="top" width="92">
MGR
</td>
<td valign="top" width="132">
$1.27
</td>
<td valign="top" width="145">
$1.61
</td>
<td valign="top" width="72">
26.7%
</td>
</tr>
</tbody></table>
Other strongly performing property stocks were the Cromwell Property Group (share price up 41%) despite its chief executive Paul Weightman warning in March of a commercial property bubble building in Australia, take-over target Australand (up 40.8%), industrial A-REIT Goodman Group (32.9%) and diversified group Mirvac (26.7%).
Australia’s biggest A-REIT Westfield Group and its shopping centre spin-off Westfield Retail Trust ended the financial year up 20.4% and 8.7% respectively.
For the financial year, the share market ended the year up 17.2%
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