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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Consumers in the Northern Territory, Perth and Sydney are the most optimistic about dwelling values rising over the next six months, according to research by RP Data  and Nine Rewards.
RP Data surveyed 1,030 consumers prior to the May 14 federal budget statement and asked them about their <a target="_blank" href="https://www.propertyobserver.com.au/residential/housing-market-sentiment-improving-but-still-favouring-buyers-rpdata-ninerewards-survey-houseprices/2013052861748">expectations for the housing market </a>over the coming months.
Around 41% of respondents expected home values to rise over the next six months with the majority (52%) expecting a steady market. Only 7% expect dwelling values to fall.
Howerver, sentiment about house prices is decidedly stronger than the national average in the Northern Territory, Perth and Sydney as well as regional WA and Melbourne but weaker in regional Victoria, regional NSW, Brisbane, the ACT and Adelaide.
Click to enlarge
<a rel="shadowbox" href="/images/stories/2013/06/lawlessjune3one.gif" title="Click to enlarge"><img src="/images/stories/2013/06/lawlessjune3onethumb.gif"></a>
"There aren’t any real surprises here… the markets which are generally showing the most buyer activity and value recovery are also the markets where the largest proportion of consumers are expecting values to rise over the coming six and twelve months," says RP Data national research director Tim Lawless.

"The Northern Territory (read Darwin), Perth and Sydney are the markets where the largest proportion of consumers are expecting values to rise over the coming six and twelve months.  Conversely, very few respondents are expecting improving values within Tasmania, regional South Australia and the ACT," he says.
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Expectations about dwelling values over next six months strongest in Perth and Darwin: RP Data survey

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Sir Richard Branson's Virgin Active Australia gym chain has pre-committed to lease 4,400 square metres of space at Leighton Properties' 567 Collins Street office development with plans for a state-of-the-art health club.
It will be the second Virgin Active gym in the Melbourne CBD, with a branch currently operating on Bourke Street.
The Collins Street branch will include a 25m pool, aqua lounge and sauna, interactive cycle studio, dedicated mind &amp; body studios, Power Plate studio, indoor climbing walls and cafe.
The leasing deal with Virgin means the 567 Collins Street development, currently under construction and due for completion in 2015, is now 50% leased.
Other tenants include Leighton Contractors who will lease 12,700 square metres and law firm Corrs Chambers Westgarth who will lease 8,800 square metres.
The 26 storey building includes a 2-3 level high foyer comprising a lobby, cafe and retail component, seven levels of podium campus office and 16 levels of upper tower office with a net lettable area of around 55,000 square metres.
The 26-level building will be located between Spencer and King Streets within 100 metres of Southern Cross Station and close to the city's three main activities districts - the CBD, Docklands and Southbank. 
567 Collins Street was acquired by Investa Office Fund (IOF) and Investa Commercial Property Fund (ICPF) earlier this year.
Announcing the deal, the flamboyant Virgin boss said he was delighted that the Virgin Active busines was expanding in Australia.
"The business has been incredibly well received by Australians who love our approach to health and fitness and we look forward to opening many more clubs across the country,” Sir Richard said.
 


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Richard Branson's Virgin Active group exercises leasing deal at Leighton Properties' 567 Collins Street development

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Hosted by Andrew “Mirror” McCombe and Shaun “Fade” Fay – Golf Getaway reviews golf courses, resorts, tournaments, equipment and technology – and property too.
Golf Getaway's Mirror and Fade are reviewing living on a golf course at beautiful Sanctuary Cove Resort in this episode.
Golf Getaway airs on Sundays at 1pm on One.
{qtube vid:=ZhrURXbuFSM}
<img height="113" width="200" src="/images/stories/2013/06/golfgetawayjune7breakout.jpg" alt="golfgetawayjune7breakout">
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Golf Getaway explores Sanctuary Cove Resort

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The average Australian household's wealth is rising, but this is being driven by a rise in financial assets not from property.
The latest RBA chart pack shows a relatively steep decline in net wealth almost in tandem with a decline in dwelling values from 2009 to 2012.
However, since 2012 household wealth has been rising again (albeit still well off pre-GFC highs), while dwelling values have been flat.
Instead a rise in the value of financial assets - cash, shares, deposits etc - has driven the latest boost in household wealth.
Property - principally the family home - still makes up the bulk of household wealth.
<img src="/images/stories/april23tivoli/net_wealth.gif" width="470" height="410" alt="net_wealth">
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Australians' net wealth rising but not from property: RBA chart pack

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Pessimists outnumbered optimists in the latest quarterly Jones Lang LaSalle (JLL) survey of shopping centre manager sentiment despite a strong lift in sales. 

Only 48% of shopping centre managers surveyed in the May quarter survey expect some growth in sales turnover over the next 12 months compared with 53% of managers surveyed in February. 
This is despite the survey being carried out after the RBA cut the cash rate to a 53-year low of 2.75% and JLL reporting strong annual sales turnover growth across its managed portfolio averaging 4.4% for sub-regional centres who took part in the survey and 5.2% for neighbourhood centres. 
The quarterly survey of managers of the 173 shopping centres that make up Jones Lang LaSalle’s managed portfolio indicates that it remains a tenants market with speciality rental income growth slowing in the year to March 2013, particularly for sub-regional centres and rental incentives "necessary for both new and sitting tenants".
Average rental growth of just 1.2% was reported for sub-regional centres in the 12 months to March 2013, down from 3.8% for the year to December 2012. 
"It continues to be a tenants’ market, with landlords keen to maintain high occupancy and quality tenants within their centres at a time when new enquiry is subdued,” notes the report. 
The latest drop in shopping centre manager sentiment mirrors recent Westpac-Melbourne Institute consumer sentiment data with consumer sentiment falling by 7% in May and 11.7% over the past two months, to now sit at 97.6, below the 100 neutral mark. 
“The retail market remains challenging.  The improved sentiment of centre managers reported in our February 2013 survey was short-lived,” says JLL Australian head of property management, Richard Fennell.
Shopping centre managers identified the economic outlook as their number one concern, with 50% expressing negativity about the year ahead compared with 46% in February’s survey. 
Impact on Turnover Performance (%)
<table style="width: 470px;" cellpadding="0" cellspacing="0" border="0"><tbody>
<tr>
<td nowrap width="136">
Impact
</td>
<td nowrap width="39">
V. Negative
</td>
<td valign="bottom" nowrap width="39">
Slightly negative
</td>
<td valign="bottom" nowrap width="39">
Neutral
</td>
<td valign="bottom" nowrap width="39">
Slightly positive
</td>
<td valign="bottom" nowrap width="39">
V. Positive
</td>
</tr>
<tr>
<td nowrap width="136">
Economic Outlook
</td>
<td nowrap width="39">
8
</td>
<td nowrap width="39">
42
</td>
<td nowrap width="39">
35
</td>
<td nowrap width="39">
16
</td>
<td nowrap width="39">
-
</td>
</tr>
<tr>
<td nowrap width="136">
Competition from other centres
</td>
<td nowrap width="39">
15
</td>
<td nowrap width="39">
27
</td>
<td nowrap width="39">
51
</td>
<td nowrap width="39">
7
</td>
<td nowrap width="39">
-
</td>
</tr>
<tr>
<td nowrap width="136">
Online retailing
</td>
<td nowrap width="39">
8
</td>
<td nowrap width="39">
34
</td>
<td nowrap width="39">
55
</td>
<td nowrap width="39">
3
</td>
<td nowrap width="39">
-
</td>
</tr>
<tr>
<td nowrap width="136">
Expected changes in tenancy profile
</td>
<td nowrap width="39">
5
</td>
<td nowrap width="39">
7
</td>
<td nowrap width="39">
53
</td>
<td nowrap width="39">
29
</td>
<td nowrap width="39">
6
</td>
</tr>
<tr>
<td nowrap width="136">
Planned refurbishment activity
</td>
<td nowrap width="39">
5
</td>
<td nowrap width="39">
3
</td>
<td nowrap width="39">
66
</td>
<td nowrap width="39">
20
</td>
<td nowrap width="39">
6
</td>
</tr>
<tr>
<td nowrap width="136">
Growth expectations within trade area
</td>
<td nowrap width="39">
1
</td>
<td nowrap width="39">
5
</td>
<td nowrap width="39">
65
</td>
<td nowrap width="39">
27
</td>
<td nowrap width="39">
2
</td>
</tr>
<tr>
<td nowrap width="136">
Political Environment
</td>
<td nowrap width="39">
3
</td>
<td nowrap width="39">
35
</td>
<td nowrap width="39">
47
</td>
<td nowrap width="39">
15
</td>
<td nowrap width="39">
1
</td>
</tr>
<tr>
<td colspan="6" nowrap width="333">
Source: Jones Lang LaSalle
</td>
</tr>
</tbody></table>
  The other key concerns were competition from other centres, the online shopping threat and the political environment. 
“The political environment continues to be an area of concern,” says JLL research director David Snoswell. 
“However, there are now more centre managers expecting a positive improvement in trading prospects in the year ahead due to the political environment compared with three months ago.  This may reflect a decisive election outcome for September. 
“Certainly there are now fewer ‘fence sitters’ in judging the impact of the political environment on trading as the election gets closer.  Those surveyed expressing the political environment as having a ‘neutral’ impact on turnover performance dropped from 77% in November 2012 to 56% in February and then 47% in May,” he added. 
The latest survey found that food retailing continues to outperform while clothing remains the concern. 
“Our May survey highlighted the poor performance of apparel in larger sub-regional centres as a major concern for centre managers,” says Fennell. 
“Getting the tenancy mix right is paramount.  Traditional views to the optimal tenancy mix are being challenged with many centres now focusing more on providing a greater mix of services, often at the expense of the fashion offer. 
“However, improved ABS sales figures in department store retailing and clothing, footwear and personal accessories are starting to come through, even if they are coming off a low base,” he adds. 
Customer numbers grew by an average 1% in the year to March 2013 with sub-regional centres (2.4%) and neighbourhood centres (5.5%) outperforming CBD centres, which have struggled to maintain their customer numbers.
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Still a retail tenants' market as rental growth slows and shopping centre manager optimism fades: Jones Lang LaSalle

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Dwelling prices are trending up in five out of six of Australia’s major capital cities, albeit at different rates of uneven growth.
The strongest upward trends are in Sydney and Perth, the latest RBA chart pack's dwelling price graph shows.
The graph uses RP Data- Rismark data.
<img height="375" width="470" src="/images/stories/april23tivoli/house_prices.gif" alt="house_prices">
More insipid growth is occurred in Melbourne, Brisbane and Canberra while the Adelaide market has shown little sign of improving and is still well below its 2009 peak.
Sydney, Perth and Canberra dwelling prices are all close to their previous peaks.
Regional dwelling prices have hardly changed over the past four years.
AMP Capital Investors chief economist Shane Oliver has highlighted that the current recovery in dwelling prices following the start of the current monetary policy easing cycle (beginning in November 2011) is the<a target="_blank" href="/news"> weakest compared with the three previous easing cycles.</a>
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Dwelling prices trending up in major capital cities but at uneven growth rates: RBA chart pack

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When investing in property it is typical for buyers to purchase in areas they know well. Unfortunately, this strategy can sometimes be at the expense of investment performance.
Astute investors select property based on the facts. Selecting property from a range of suburbs or interstate can be appealing for many reasons; to diversify your portfolio, to access more affordable or upward trending markets or to access state or property-specific benefits. Whatever the reason, the common goal is to maximise the benefit of owning an investment property.
Despite the added complexity of distance, the process of investing interstate or in unfamiliar areas isn’t fundamentally different from investing in your own neighbourhood. So what are the key things to consider before buying a property in an area you don’t know?
What should I buy and where?
The geographic location and property type you invest in depends on your personal circumstances, including your budget and goals.
The key is to ensure your investment strategy is based on thorough analysis and research of the area, the street and the particular property before deciding to buy. Consider those areas that are supported by sound employment, a permanent population (as opposed to one supported by a transient or temporary workforce or community), well-established infrastructure, including transportation, education, retail, medical services, recreational and entertainment facilities.
What’s the best way to research my investment?
The costs associated with visiting an interstate property can sometimes compel investors to purchase a property without physically inspecting it. This can result in false expectations about the condition of the property and the neighbourhood it is located in. Always view the property, or have someone you trust do it on your behalf.
Research the local property market by reviewing local property prices, the population demographic and amenities. Also, ask the selling agent to provide you with recent comparable sales to support the asking price.
When is the best time to buy?
The property cycle moves differently in each market. While it is inadvisable to attempt to ‘time’ your entry into the market, you must consider the ebbs and flows of the marketplace in relation to the property you are considering. Ask yourself, “has this property performed in the bad times, as well as the good?” Remember, a property’s historical performance is a good indication of its future performance.
What do I need to know before I buy?
It’s important to know the real estate and planning laws employed in the state of purchase. Practices differ from state to state and what’s considered normal practice in Victoria may not apply in Queensland or other states.
When buying an investment property it’s wise to protect yourself by engaging a professional who knows the local market. A local buyers advocate can assist you in identifying, inspecting, negotiating and purchasing a property, while reducing risk exposure. Likewise, it’s wise to engage a solicitor or conveyancer in the state of purchase to ensure you have satisfied all of the legal requirements of the purchase. When compiling your team of experts ensure you enquire about their qualifications and experience and ask for references where possible.

<hr>
Greville Pabst is CEO of <a target="_blank" rel="nofollow" href="https://www.google.com.au/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=1&amp;ved=0CEAQFjAA&amp;url=http%3A%2F%2Fwww.wbpproperty.com%2F&amp;ei=Jb4hUevODOyamQX6mIGYDQ&amp;usg=AFQjCNH0u8Ji9ymluq8AKARfB-KjHZ-aFA&amp;sig2=DNsIKQR7tQj4PtYuiJOHPA&amp;bvm=bv.42553238,d.dGY">WBP Property Group.</a>
 
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Four tips for buying property interstate: Greville Pabst

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New research on the US suggests high rates of home ownership are associated with high rates of unemployment over the long term. It’s getting a lot of profile but is it convincing?
There’s no end of awful things that researchers have pinned on suburban sprawl. Now there’s <a target="_blank" href="https://www.nytimes.com/2013/05/10/business/homeownership-may-actually-cause-unemployment?nl=todaysheadlines&amp;emc=edit_th_20130510&amp;_r=3&amp;">new research</a> that finds high rates of home ownership – which tends to be a suburban phenomenon in the US – are associated with high levels of unemployment.
The paper, <a target="_blank" href="https://www.piie.com/publications/wp/wp13-3.pdf">Does high home-ownership impair the labor market</a>, is written by economists David Blanchflower and Andrew Oswald. They compared the long run change in home ownership rates in the US at state level with the long run change in unemployment rates.
They looked at the period 1950-2010 and found “a doubling of the rate of home-ownership in a US state is followed in the long-run by more than a doubling of the later unemployment rate”. That’s not because home owners themselves are disproportionately unemployed – they aren’t.
Rather, they say, it’s because rises in home-ownership impose negative externalities on the labour market through (i) lower levels of labour mobility, (ii) longer commuting times, and (iii) fewer new businesses.
As I interpret it, they’re reasoning is that home owners tend to move address less frequently than renters. Rather than move closer to new jobs and schools, they consequently commute further. That exacerbates traffic congestion, which makes local business less productive.
Owners also have a bigger stake in protecting the amenity of their neighbourhood than renters. They’re therefore more likely to oppose new businesses setting up, as well as resist new housing developments that would attract newcomers and strengthen the local economy.
<a target="_blank" href="https://www.washingtonpost.com/blogs/wonkblog/wp/2013/05/07/study-high-levels-of-homeownership-can-kill-the-job-market/">Brad Plumer</a> at The Washington Post notes that the findings go against some common views. For example, some economists contend that “people who own homes have denser local networks, which make it easier for them to find jobs in their local area”.
If Professors Blanchfield and Oswald are right, this is an important finding. Mortgage interest tax deductability costs the US government $70 billion p.a. Yet as I’ve noted before (<a target="_blank" href="https://blogs.crikey.com.au/theurbanist/2012/06/17/are-high-home-ownership-countries-wealthier/">Are high home-ownership countries wealthier?</a>), the economic advantages of home ownership at the national level are over-stated.
The findings surprise some observers. <a target="_blank" href="https://www.petergordonsblog.com/2013/05/unemployment-and-commuting">Peter Gordon</a> from USC is worried that state-level data can mask very big variations between urban and regional areas and between cities. When he saw the paper, he compared metropolitan area commuting rates with unemployment rates and found no correlation, albeit he only looked at one year.
<blockquote>The correlations that I found for the 43 areas for which I could get data for both variables were these: 2009 mean commute time (minutes, solo drivers) and 2012 unemployment -0.07; 2009 commute time variance and 2012 unemployment -0.12; 2009 mean commute time and 2012-2013 change in unemployment, -0.08; 2009 commute time variance and 2012-2013 change in unemployment -0.10. For the commuting-unemployment link, there is apparently not much there.</blockquote>
The paper also provoked Charlie Gardener at the <a target="_blank" href="https://oldurbanist.blogspot.com.au/2013/05/homeownership-unemployment-and-economic">Old Urbanist</a> to crunch some related numbers. He looked at the change in median household income and home ownership between 1950 and 2010 and found a positive relationship between these two variables, with an R squared of 0.28.
The southern states, he says, experienced the largest increases in home ownership rates over the 60 years, as well as the biggest increases in incomes. This is also true when incomes are adjusted for housing costs.
Peter Gordon didn’t expressly look at home ownership and Charlie Gardner didn’t look at unemployment so their analyses are suggestive not definitive. Mr Gardner notes sagely that his analysis doesn’t alter “the pattern carefully discerned by the authors”. But it at least points to:
<blockquote>the complexity of the homeownership phenomenon, which is affected by numerous economic, demographic and political factors, and which benefits from being studied in the broadest possible context so as to avoid placing too much importance on any particular correlation.</blockquote>
I wonder if there might be some underlying factor that explains the association observed by Professor Blanchflower and Professor Oswald. For example, could it be that changes in the density of population and employment over the period explain why some states perform better on unemployment than others?
I also wonder if the relationship between home ownership and unemployment is even all that strong to begin with. As the exhibit shows (it’s taken from the paper), there is indeed a positive relationship between these variables, however the R squared is only 0.108.
I know statisticians emphasise that statistical measures need to be interpreted in their context, but that does seem a pretty unimpressive number. Remove one big city like New York from the regression on the grounds it’s an outlier and the relationship might vanish entirely.
Alan Davies is a transport and urban development consultant, and a blogger for <a target="_blank" href="https://blogs.crikey.com.au/theurbanist/">The Urbanist</a>.
This article originally appeared on <a target="_blank" href="https://www.crikey.com.au/">Crikey</a>.
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Is there a link between unemployment and home-ownership?

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First-home buyers have deserted the NSW property market in droves with improved housing affordability and significantly reduced interest rates not having any impact on the willingness of this key market segment to climb onto the property ladder.
The number of home loans to NSW first-home buyer in the March quarter totalled 2,647 - 57% lower than a year ago and a 40.6% fall in the March quarter alone, the latest Real Estate Institute of Australia (REIA) figures reveal.
This was the largest annual decline recorded across the country but in line with a national trend of dwindling first-home buyer demand.
According to the REIA, first-home buyers made up 14.5% of the national owner-occupier market in the March quarter compared to 16.5% in the December quarter 2012 - the lowest level since the June quarter of 2004.
The number of new finance commitments to first home buyers decreased 22.5% to 18,348 in the March quarter.
Compared to the first quarter of 2012, new finance commitments to first home buyers decreased 21.3%.
Some of the blame for the  steep slide in NSW first-home buyer numbers will be attributed to the state government’s decision to axe the $7,000 first-home owner grant on September 31 in favour of a $15,000 grant for new homes only.
In Queensland, a state which has also cancelled its first-home owner grant in favour of a $15,000 handout for new homes in September last year, home loans to first-home buyer decreased by 43.7% over the March quarter  to 2,557 - the largest quarterly decline across the nation.
Victoria, the ACT, South Australia and Tasmania all plan similar changes to first-home buyer grants in the coming months.
Both <a href="/news">Property Observer</a> editor Jonathan Chancellor and <a href="/news">hotspotting.com.au’s Terry Ryder</a> have highlighted the ill-directed nature of such schemes (Ryder called Queensland’s grant “a new definition of insanity”) which attempt to dangle a financial carrot in front of the noses of first-home buyers to sway them towards new homes over existing ones.
The REIA is also campaigning for a re-commitment by these states to a universal grant available for both new and existing homes.
It should be borne in mind that first-home buyer numbers have declined despite housing affordability as measured by the REIA improving for seven consecutive quarters following the RBA cutting cash rate by 200 basis points since November 2011 and much of this (around 80%) being passed on by lenders to variable rate mortgage holders.
Over the same period, dwelling prices have risen by a moderate 2.4%, according to RP Data figures.
Clearly other forces are also at play including relatively low consumer confidence, concerns about job prospects and the high cost of home ownership in key markets like Sydney and Melbourne, despite recent incremental improvements.
Victoria, which has yet to implement its new homes only $10,000 first-home buyer grant, recorded a more modest 15.4% drop in the number of loans to first home buyers over the quarter to 6,053. However, the figure is unchanged compared with the same quarter of the previous year.
South Australia was the only state or territory to record a rise in the number of loans to first home buyers, up by 1.8%.
For the year, Western Australia recorded the largest increase in loans to first home buyers, up by 19.2%.
The number of first home buyers in Tasmania dropped by 3.9% over the quarter but increased 15.9% compared to the March quarter of the previous year, to 349. During the quarter, first home buyers made up 16.8% of owner-occupier market in Tasmania.
The number of first buyers’ loan commitments in the Northern Territory dropped 23.8% to 231 over the quarter but increased 0.9% compared to the March quarter of 2012. Of all owner-occupier housing finance commitments in the territory, first home buyers made up 21.9% during the first quarter 2013.
The number of first home buyers in the Australian Capital Territory fell 0.5% to 367 during the quarter. This is 9.9% higher than the figure recorded during the March quarter 2012.
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With existing homes ineligible for state grants, NSW suffers 57% annual drop in first-home buyers: REIA

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Records show that most new property investors tend to be influenced by the masses buying at or near to the top of each cycle, but the minority who reap the biggest rewards have purchased and settled long before the upward trend sets in.
It’s an unfortunate fact that most people need to see evidence of something happening before they are willing to invest their money and hence they wait for the market to boom before they buy.
A smarter way to approach property investment is to study the historic economic cycles as they relate to property, as this has proven to be a failsafe guide for investors for over 100 years.
Although this last cycle has been longer than usual due mainly to the Global Financial Crisis, it has been a cycle all the same, comprising the boom years of 2007-2008 followed by rising interest rates, an easing of activity and prices, a lull in the market through to 2012 then falling interest rates, rental stock shortages, rising rents and a significant bounce in buyer activity into 2013.
Since the beginning of this year we have seen stock levels plummet in WA to a 10-year low of around 6,000 properties, sales volume is way up and we are seeing more and more examples of multiple offers on properties with many properties selling above price expectation.
For investors wanting to take full benefit from this upswing, now is the time to be entering the market and securing property before investing again becomes the fashionable thing to do.
Most people 30 or over have, at some stage wished they had purchased a property at yesterday’s prices but right now a window of opportunity is wide open for investors to take action so they can look back happily with some nice capital appreciation and a healthy nest egg for the future.
Geoff Baldwin is managing director at <a target="_blank" href="https://www.remaxwa.com.au/" rel="nofollow">RE/MAX WA</a>.
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