<a href="https://www.apartments.com.au/developers/mayd-group">MAYD Group</a> has set a new residential price record in Queensland with the $30 million sale of the penthouse at its <a href="https://www.apartments.com.au/new-apartments/one-burleigh-88-the-esplanade-burleigh-heads-qld-4220">ONE Burleigh</a> development in Burleigh Heads.

The sale equates to around $37,500 per sqm.

The two-level, 800 sqm penthouse, featuring five bedrooms, five bathrooms, five car spaces, and a private infinity pool overlooking the Pacific Ocean, was acquired by a Gold Coast-based entrepreneur, highlighting continued demand for ultra-premium beachfront product.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“There’s very limited opportunity to secure this level of scale and absolute beachfront position in <a href="https://www.apartments.com.au/developments/burleigh-heads-qld-4220">Burleigh Heads</a>,” Tehle said.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

The sale comes as construction progresses on ONE Burleigh, a boutique development of 17 full-floor residences at 88 The Esplanade, scheduled for completion in early 2027.

Developed by MAYD Group and designed by <a href="https://www.apartments.com.au/architects/mas-architecture-studio">MAS Architecture</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/sici-design">Sici Design</a>, the project has been positioned as a collection of house-sized beachfront apartments, each occupying an entire floor with around 381 sqm of internal and external living space.

When construction commenced, MAYD director Todd Mould pointed to the long-term resilience of premium coastal real estate as a key driver behind the project.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

[smartcode_project:default project_id=146358 project_image_fid=323055]

Each residence has been configured with four bedrooms, multiple living zones, a private office, and expansive ocean-facing terraces. Interiors draw on a restrained material palette, including travertine stone, timber joinery, and integrated premium appliances.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

Residents will have access to a suite of wellness-focused amenities, including pools, sauna facilities, and dedicated relaxation spaces, reflecting a broader shift toward lifestyle-driven apartment design on the Gold Coast.

[smartcode_project:default project_id=146358 project_image_fid=323052]

The project occupies a southern Esplanade site with uninterrupted beachfront frontage, an increasingly rare offering in Burleigh Heads, free from the Norfolk Pines that line much of the coastline and often limit direct ocean outlook.

Mould said the design intent was to balance that outlook with a sense of retreat.

“Living at ONE Burleigh is about how your day naturally unfolds, morning light across the ocean, coffee on the balcony, and being in Burleigh but elevated above the noise.”

The result further reinforces Burleigh Heads’ emergence as one of the Gold Coast’s most tightly held and supply-constrained beachfront markets, where boutique, owner-occupier-focused developments are increasingly setting new price benchmarks.

[smartcode_project_cta:default project_id=146358]

Joel Robinson

MAYD Group sets Queensland record with $30 million penthouse sale at ONE Burleigh in Burleigh Heads

Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.

Developer Big Projects brought in the renowned Sydney-based design studio YSG to craft the interiors for The Frederick, Big Projects' new Mermaid Beach project and YSG's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for Big Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of Big Projects.

“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

[smartcode_project:default project_id=110588 project_image_fid=5347]

Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.

"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”

A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.

[smartcode_project:default project_id=110588 project_image_fid=5360]

Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Architecture, with landscape design by LDG.

SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.

"They’ve reviewed a number of projects, however this one has stood out for its design flair/ appeal,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. Big Projects is targeting a late 2027 completion.

[smartcode_project_cta:default project_id=110588]

Big Projects taps Sydney’s YSG for first multi-residential project at The Frederick Mermaid Beach

Melbourne-based property developer ALTA Property has this week achieved planning approval for the adaptive re-use of a former commercial tower into a $200 million, 169-apartment project at 10 Queens Road, one of the last developable sites along the Albert Park Lake-fronting boulevard.&nbsp;

Set within one of Melbourne’s most sought-after precincts and designed by <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser and Partners</a>, the illustrious building will offer unparalleled views across Albert Park Lake, Port Phillip Bay and Melbourne CBD.&nbsp;

The mix of 1, 2 and 3-bedroom residences will be complemented by a ground-floor amenity featuring private dining, a lounge bar, gym and wellness spaces, co-working, outdoor communal gardens, and retail.&nbsp;

The 17-storey building is a masterclass in adaptive re-use, with the existing commercial building’s façade, shell and internal structure to be retained, before high-end residences are built from the ground up in a newly built Albert Park facing addition to the building.&nbsp;

Sitting atop the building will be two 320+sqm penthouses with private rooftop terraces, which are expected to be priced between $9 - $11 million.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="aa11211b-5581-43f9-940c-fc84d30a0e61" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/C_04.png?VersionId=Yhf5p_1EgGDu_zOIMFgvA8Ug8j3sTFQs" />

Architecturally, the building will feature a curved, geometric façade that celebrates and elevates the existing structure, with warm, muted tones which were selected to extend the materiality of the existing building rather than contrast it.&nbsp;

Interiors will bring together three metre high ceilings with waffle concrete in some spaces, natural timber, granite and Australian materials, culminating in crafted, generous and considered spaces that are defined by authenticity.&nbsp;

The adaptive re-use means that the Queens Road project will be a sustainability led, high-quality finished product, with a 62% saving in carbon emissions by re-using the existing structure rather than knocking it down and rebuilding.&nbsp;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

Melbourne’s property market growth is currently led by apartments. According to RPM VIC Apartments &amp; Townhomes Market Report (April 2026), units are outpacing houses, especially in the middle ring suburbs where median prices hit $757,500 – a four-year high that represents 2.9 percent growth quarter-on-quarter.&nbsp;

<img alt="ALTA Property achieves permit approval for $200 million Queens Road tower" data-entity-type="file" data-entity-uuid="647e13d7-b4bc-433a-9bc9-fe3c3dd4f2ec" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/V_06.png?VersionId=ou4NUCWUgA3NAy.6CQJlEdKX50j3dOk6" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"With a considered project team and a premier site along one of the city’s most sought-after boulevards, we look forward to contributing to the fabric of this established address.

“Other Australian markets are getting a lot of attention, but I believe the depth of value in Melbourne is being overlooked. The fundamentals are strong, population growth is steady and, based on our preliminary conversations with a leading builder, construction costs are beginning to normalise, creating further opportunity."

Givoni says the project is a&nbsp;highly considered example of adaptive re-use, delivering quality, high-end residences, premium hotel-inspired amenities and an architecturally striking façade, all achieved without the need to remove the existing structure.

"We are really looking forward to the market’s response,” he said.&nbsp;

ALTA Property to deliver $200 million Queens Road apartment tower

Construction is set to begin at <a href="https://www.apartments.com.au/new-townhouses/orchard-mews-glen-iris-18-scott-grove-glen-iris-vic-3146">Orchard Mews</a> in Glen Iris, with&nbsp;PC Whitehall &amp; Sons&nbsp;now appointed as the townhome development moves into its next phase.

The development by&nbsp;<a href="https://www.apartments.com.au/developers/montcoeur">MontCoeur</a>,&nbsp;located at 18 Scott Grove, is now around 30 per cent sold, with completion targeted for late-2027.

Orchard Mews comprises a curated collection of three- and four-bedroom customisable townhomes, positioned within one of <a href="https://www.apartments.com.au/developments/glen-iris-vic-3146">Glen Iris</a>’ more tightly held residential streets. The low-density project has been designed by <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jack-merlo">Jack Merlo</a>, bringing together a team known for high-end residential projects across Melbourne.

[smartcode_project:default project_id=150128 project_image_fid=366285]

The development is defined by its focus on flexible living and long-term usability. Each residence includes multiple living zones and a customisable multipurpose room, allowing buyers to tailor spaces to suit changing needs, whether as a home office, additional bedroom, wellness area or entertainment space.

Architecturally, the townhomes emphasise natural light and spatial volume, with dual-aspect layouts and double-height living areas incorporated into the design. Interiors feature natural stone benchtops, premium appliances, and a neutral material palette intended to support everyday functionality rather than statement-driven finishes.

All residences are all-electric and include private lifts and secure double garages, reflecting a broader shift toward sustainability and future-focused housing in Melbourne’s established suburbs.

[smartcode_project:default project_id=150128 project_image_fid=366277]

Outdoor connections are also central to the offering, with a mix of private courtyards and terraces extending internal living spaces and integrating with the landscaped surrounds.

The Scott Grove address places Orchard Mews within close proximity to some of Melbourne’s key lifestyle and education amenities, including Scotch College, Sacré Cœur, Cabrini Hospital and the retail hub of Chadstone. Public transport access is also nearby, with trams and Gardiner Station providing connectivity to the CBD and surrounding suburbs.

[smartcode_project_cta:default project_id=150128]

Construction to commence at luxury Glen Iris townhome project, Orchard Mews

A rare new apartment development has been proposed on the fringe of St Ives Village.

Developer Newquest Property has lodged plans for a low-rise apartment project designed by well-regarded architecture firm Warren &amp; Mahoney, which is best known for its work in the multi-residential sector in Melbourne.

The building, proposed for a 1,916 sqm site on <a href="https://www.apartments.com.au/new-apartments/st-ives-residences-3-5-memorial-avenue-nsw-2075">Memorial Avenue</a> opposite St Ives Village Green, has been designed to blend into the surrounding natural environment.

<img alt="St Ives" data-entity-type="file" data-entity-uuid="5c1c7437-2fba-4345-a6d7-05321714ad3e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-04%20at%201.28.46%E2%80%AFPM.png?VersionId=KrYyMaJvNqR7vbx0xbB3Ef8sJ6FuHpmn" />

“Drawing inspiration from the pale trunks and flowering canopies of the scribbly gums and blue gums prevalent in the area, a considered material palette was developed,” the architectural design report states.

“This palette references the established materiality of the suburb while elevating it through refined finishes to achieve a more luxurious architectural expression.”

Of the 33 apartments proposed, 21 will be three-bedroom residences. The remaining mix includes nine two-bedroom apartments, one one-bedroom apartment and two four-bedroom residences. The development will be supported by 62 car parking spaces and 33 secure bicycle spaces.

The proposal would replace two single-storey brick buildings currently on the site.

<img alt="St Ives" data-entity-type="file" data-entity-uuid="21422eaf-09a9-4439-9278-b9bd9daf22a1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-04%20at%201.38.10%E2%80%AFPM.png?VersionId=v.fXSgcUcEscvOZzqcjG5nk3gVqk_Amt" />

St Ives remains a relatively untapped market for new apartment development. North Shore developer WINIM has a number of projects in the area, while INCA is nearing completion of Ellis Residences.

More recently, Traders In Purple has lodged plans for one of the denser projects proposed in the suburb, a 75-apartment development on a 5,900 sqm site on Cowan Road.

NewQuest, a construction, design and development firm, has delivered over 24 projects across commercial, residential, industrial, and lad markets.&nbsp;

&nbsp;

&nbsp;

First look: NewQuest Property proposes new St Ives apartment development

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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Forecasters are setting themselves up to fail when they make very exact predictions about future price growth.
I've long been puzzled by economic forecasters predicting, for example, that Brisbane house prices will grow 7.4% in 2014-15 (not approximately 7% or 8%, mind you, but exactly 7.4%) and then exactly 7.5% in 2015-16 – as QBE has done with its Australian Housing Outlook report, with the help of BIS Shrapnel.
What micro-economic event will occur in 2015-16 to cause Brisbane's average price growth to limp 0.1 of a percentage point higher in that year, compared to the previous year?
Why will Melbourne prices grow exactly 2.2% in 2015-16 and then decrease exactly 0.7% in 2016-17?
What chance the forecasters will be right? I would suggest zero (and that's an exact figure I can predict with confidence).
Has this kind of forecast ever been exactly right in the past? No. I've checked and I can't find an instance of an accurate prediction.
So why do it? Why pretend you can predict city price growth two or three years into the future, down to the last decimal point, when it's not remotely possible to be right?
The most likely answer is: to drum up a bit of publicity, comfortable in the knowledge that most media outlets will publish this nonsense without asking a single question. And even more comfortable in the knowledge that no one will check in three years to see how accurate the forecasts were.
Louis Christopher of SQM Research commented earlier this year that organisations who make big claims or extreme forecasts for publicity reasons rely on "the community's collective amnesia" to cover their tracks. In other words, they can relax, knowing that no one will bother to check on the results of their forecasts, much less hold them to account for them.
Even more alarming about this forecast report is that it is fundamentally based on data from the Real Estate Institute of Australia.
It lists Real Estate Institute of Australia (REIA) figures for the previous decade and then extrapolates forward, with predictions for the next three (financial) years.
The Melbourne figures are particularly rubbery. According to the REIA, Melbourne prices rose a tad under 20% in the financial year that ended on 30 June.
Such a figure is fanciful. All the other major research sources contradict it. RP Data says 9%, Australian Property Monitors says 10% and the Australian Bureau of Statistics says 9%.
Even more spectacular, the REIA claims Melbourne prices rose almost 27% in 2009-10.
As I have written previously in this column, the institute's figures for Melbourne growth are good for a laugh, but no one sensible gives them any credibility.
I've called the REIA to account numerous times in the recent past on the accuracy of its price data – and now the institute refuses to send me their figures. Fortunately, it's not difficult to get a copy of their reports from other sources.
The one thing that does make sense about the QBE report are the general themes, in terms of which locations are likely to rise and which are not.
For example, it suggests Brisbane will be the leading city for growth in the next three years, and that makes some sense. It also suggests that Adelaide and Hobart will do better than Melbourne, Perth, Canberra and Darwin, and that generally aligns with my own thoughts, based on our research.
It forecasts growth in some of the key regional centres, such as Newcastle, Wollongong, Ballarat, Bendigo, Cairns, Townsville, the Sunshine Coast and the Gold Coast – and that also makes sense.
But the exact numbers they have applied to those cities for price growth in the next three years? Give me a break.
Terry Ryder is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> him or contact him on <a href="https://twitter.com/hotspotting" target="_blank">twitter</a>.
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terryryder-YECXbqmri2

When people pretend they can predict exact property price growth, there's a 0.00% chance they'll be right

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I've always liked the saying "can't see the forest for the trees".
It appropriately sums up so much of the distorted self-indoctrinated bias of opinion pertaining to real estate in Australia.
The debate has never been so fierce – especially when it comes to the definition of that 'bubble'. I am of the firm belief that it is those who are actual historians of the Australian property markets who are the ones with the greatest ability to call the exact path and outcomes.
If you want to end the 'bubble' debate simply ask the question: "So when do you see this bubble bursting?"
It's always the fastest way to draw the debate to a fast halt. History has shown when you closely analyse the property market machinations through the Reserve Bank of Australia (RBA) – Cash Rate Target interest rate changes only then can we see the significant market changes.
That being when the RBA increases the cash rate twice (not once) we are starting to see a new course being charted. Then it takes another two to four years for the affects to be seen given that is when households start to come out of their fixed mortgage periods into the higher mortgage agreements.
Given we are the best part of at least 12 months away from the first cash rate increase – which should send the alarm bells ringing – then depending on the next increase we won't start seeing any noticeable market price corrections until 2016 to 2019.
We also need to bear in mind that when the cash rate increases so does the exchange rate as that goes up in unison, which is the last thing the RBA wants to see given it's presently trying to get the exchange rate down.
We should consider that the RBA is well down the track to introducing its new macroprudential tools as well as waiting to receive (then implement) the findings from the Murray Financial System Inquiry.
No doubt the RBA would be very much looking forward to tinkering the markets with these tools so that (for the very first time) other than increasing the cash rate  it may just be able to manipulate the markets in a way never seen before. For the first time ever (as many would not be aware) we are witnessing history with these new real estate market initiatives.
Again, history will show whether or not they were effective. However, it will be fascinating to watch the outcomes.
So back to those fools on the hill who following this week's RBA decision to leave the cash rate on hold at 2.50% – they even managed to get that wrong. No it was not a record (as some declared). Even though 14 straight months is getting up there, the actual record is 17, not 16 as some would believe. Furthermore, you can only apply consecutive meetings as the RBA doesn't meet in January.
Having said that, when you go back through the history of the cash rate movements at the RBA we start to see fascinating stories evolve.
I have conducted my research on instances where the cash rate remained on hold for 10 or more consecutive meetings:
The first period of RBA cash rate holds started on 30 July 1993 when the cash rate was moved from 5.25% to 4.75%, where it remained until 27 July 1994 – in total 12 holds. Then on 17 August it was bumped up 1.25% to 5.50%.
The next run of holds, which is the equal record 17 holds, happened on 14 December 1994 when the cash rate increased from 6.50% to 7.50%, where it remained until 3 July 1996.
Then it fell to 7.00%. So we are seeing long holds followed by increases and decreases.
On 30 July 1997 we saw another 16 consecutive holds at 5.00%, to then see it drop to 4.75%.
On 5 June 2002 we saw 16 holds at 4.75%, to then see it increased to 5.25% in November 2003.
On 4 February 2004 we saw thirteen holds at 5.25%. When the cash rate was increased to 5.50% in March 2005, that was followed by another twelve holds that was followed by an increase to 5.75%.
Then on 8 December 2011 we had another ten holds at 4.75%, then saw the rate dropped to 4.25%.
We are now in the current hold pattern after fourteen meetings, so based on history it's anyone's guess what or when the next movement might be. I predict the current rate will be set for the longest period in RBA history as it will go well into the twenty something meetings.
So when you see the arguments mounting that many commentators were disappointed that the RBA hardly mentioned that ''bubble" following this week's decision – history clearly shows that the board members may not be that concerned about that "bubble".
Maybe they are more concerned as to why investors have steered clear of the stock market which, by the way, had a few massive corrections this week – although, wait a minute, nothing much was written about that either.
It all depends on what you are looking at – the forest or the trees?
As to be expected stock levels increased significantly this week – so now we finally get to see firsthand just how strong the markets really are.
Watching these numbers will be telling over the period leading up to Christmas, although I don't believe we will see anything that even resembles that imaginary 'bubble'. Time will tell!
 
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robertsimeon-hRNTwJyXkQ

Want to know when the market will change? Keep an eye on interest rates

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A pick up in Queensland is being widely predicted, and SQM Research’s Louis Christopher expects 4% to 7% price rises for 2015.
However, there are still a number of properties in the state with strongly discounted homes.
Here are SQM Research’s top five vendor discounted properties in Queensland.
<a href="https://www.domain.com.au/property/for-sale/townhouse/qld/morayfield/?adid=2011132763" target="_blank">15/35 Kenneth Street, Morayfield</a>
<img src="/images/2014/10/15/d1.jpg" alt="">
Type: Townhouse
Current asking price: $239,000
Initial asking price: $340,000
Discount: 30%
Days on market: 169
<a href="https://www.homesales.com.au/buy/19-aminya-street/hs562185.aspx" target="_blank">19 Aminya, Coochiemudlo Island</a>
<img src="/images/2014/10/15/d2.jpg" alt="">
Type: House
Current asking price: $329,000
Initial asking price: $465,000
Discount: 29%
Days on market: 1,462
<a href="https://www.domain.com.au/property/for-sale/house/qld/west-end/?adid=2010559610" target="_blank">8 Stagpole Street, West End</a>
<img src="/images/2014/10/15/d3.jpg" alt="">
Type: House
Current asking price: $850,000
Initial asking price: $1,200,000
Discount: 29%
Days on market: 455
<a href="https://www.propertyobserver.com.au/https://www.raineandhorne.com.au/rural/properties/18022" target="_blank">87 Coondooropa Drive, Macleay Island</a>
<img src="/images/2014/10/15/d4.jpg" alt="">
Current asking price: $489,000
Initial asking price: $689,000
Discount: 29%
Days on market: 1,757
<a href="https://www.domain.com.au/property/for-sale/house/qld/narangba/?adid=2011192941" target="_blank">713 Old Gympie Road, Narangba</a>
<img src="/images/2014/10/15/d5.jpg" alt="">
Type: Land
Current asking price: $319,000
Initial asking price: $449,000
Discount: 29%
Days on market: 134
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jduke-EHk3XBmHkn

Despite predicted Queensland pick up, top five properties discounted by 26% plus

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A large proportion of housing demand is currently being driven by investment.
Unfortunately in Australia we only receive information on owner occupier and investment ownership of properties every five years with the census.
Because of this, RP Data's Analytics team have built a set of rules to determine the probability that a home is owned by either an investor, owner occupier or the Government.
The Reserve Bank has specifically noted that they have concerns with the high level of speculative investor activity, specifically in Sydney and Melbourne. The following thematic maps show the capital cities and measure the proportion of homes owned by investors across each region.
The geographic trends in investor activity are very clear from these maps; investors are heavily concentrated within the inner city apartment markets.
The below maps clearly highlight that investors overwhelmingly focus their attention on inner city unit markets.
When the Reserve Bank raised concerns that there is too much investor activity taking place, it is also clear that the concentration risk is very much centred geographically within these inner city unit markets.
If we did see investors pulling out the market 'en masse' or investor demand dry up for one reason or another over a short frame of time, then there is a heightened risk of declines in market value.
Investor concentration in Adelaide's markets:
<img src="/images/2014/10/15/Adelaide-houses.jpg" alt="">
 
<img src="/images/2014/10/15/Adelaide-units.jpg" alt="">
 
 Investor concentration in Brisbane's markets:
<img src="/images/2014/10/15/Brisbane-houses-470x580.jpg" alt="">
 
<img src="/images/2014/10/15/Brisbane-units-423x580.jpg" alt="">
To see the concentration of investors in Canberra, Darwin, Hobart, Perth, Sydney and Melbourne markets, click below. 
<hr class="system-pagebreak">
  Investor concentration in Canberra's markets:
<img src="/images/2014/10/15/Canberra-houses.jpg" alt="">
<img src="/images/2014/10/15/Canberra-units.jpg" alt="">
 
Investor concentration in Darwin's markets:
<img src="/images/2014/10/15/Darwin-houses.jpg" alt="">
<img src="/images/2014/10/15/Darwin-units.jpg" alt="">
To see investor concentration in Hobart, Perth, Sydney and Melbourne markets, click below.
<hr class="system-pagebreak">
 Investor concentration in Hobart's markets:
<img src="/images/2014/10/15/Hobart-houses.jpg" alt="">
<img src="/images/2014/10/15/Hobart-units.jpg" alt="">
 Investor concentration in Melbourne's markets:
<img src="/images/2014/10/15/Melbourne-houses.jpg" alt="">
<img src="/images/2014/10/15/Melbourne-units2-580x548.jpg" alt="">
 To see investor concentration in Sydney and Perth markets, click below.
<hr class="system-pagebreak">
Investor concentration in Perth's markets: 
 
<img src="/images/2014/10/15/Perth-houses-394x580.jpg" alt="">
 
<img src="/images/2014/10/15/Perth-units-403x580.jpg" alt="">
 Investor concentration in Sydney's markets:
<img src="/images/2014/10/15/Sydney-houses.jpg" alt="">
<img src="/images/2014/10/15/Sydney-units.jpg" alt="">
 
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Heavy investor concentration exposes inner city unit markets to risk

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Earlier this year, Brisbane's cost of living was reported among the world's highest at 13th, based on a survey by Expatistan – a group that analyses world-wide cost of living data.
In terms of our capitals, Brisbane came in second, behind Sydney (11th); while Melbourne placed 18th, Perth 24th, Adelaide 25th and Canberra 26th.
Yet if we break out housing – a major component of the variables measured in the survey – Brisbane's housing price points may surprise many.
The fact is that the majority of home sales taking place across Brisbane are for a price tag of less than $400,000.
And a similar trend exists across most other Australian capitals as well, including Sydney and Melbourne – also in our regional centres.
While the perception may be otherwise, the reality is that most dwellings sold Australia-wide are for less than $500,000. A third sell for prices under $350,000.
When it comes to buying property, knowledge of location price points can be helpful for investors in terms of making better property choices and maximising future investment returns.
That's because knowing how many sales take place in a particular area and price category, can provide an indication as to how long a property might take to resell; and how much future promotion and resources might be required to achieve that sale.
Price points – along with other key criteria such as value, design, site, supply and demand – are something that investors really should pay more attention to, rather than generic price growth alone.
Another way of looking at price points is to visualise the market as being shaped like a pyramid, where sales volumes are diminishing as prices rise.
The point being that in general, the more you pay for a property, the fewer buyers there are to resell to in the future.
That's not to say that the top end housing market has not seen growth across Australia.
Today, one in 10 of our homes achieves over $1 million on sale, up from 3% 10 years ago.
And one in fifty homes sells for over $2 million, up from 0.7% a decade ago.
In Brisbane, these are the latest dwelling price points:
<ul>
<li>Under $400,000 – 38%</li>
<li>$400,000 to $600,000 – 39%</li>
<li>$600,000 to $800,000 – 13%</li>
<li>$800,000 to $1 million – 6%</li>
<li>Over $1 million – 4%</li>
</ul>
Investors, especially those just starting out, would be wise to consider buying property in the larger price brackets. The old adage of safety in numbers does apply.
It's important to remember, too, that price movement is not necessarily uniform across a market. Some price points move more than others and will change, depending on the position of the market in the property cycle.
Currently, in Brisbane's recovery market, here's what we are seeing:
<ul>
<li>Properties priced below $350,000 have seen a 12% lift over the past three months</li>
<li>Those priced $500,000 to $1 million have increased more than 30%</li>
<li>And sales over $1 million are up an impressive 43%.</li>
</ul>
 Visit Michael's <a href="https://matusik.com.au/" target="_blank">website</a>, read his <a href="https://matusik.com.au/missive/" target="_blank">blog</a>, follow him on <a href="https://www.facebook.com/ThinkMatusik?fref=ts" target="_blank">Facebook</a> and <a href="https://twitter.com/michaelmatusik" target="_blank">Twitter</a>, or connect via <a href="https://www.linkedin.com/in/michaelmatusik" target="_blank">LinkedIn</a>.
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michaelmatusik-49YzLvdmNv

Forget generic price growth: it's time to take a closer look

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In my previous article <a href="/expert-insights/the-higher-you-build-the-greater-the-fall-edwin-almeida">"Reaching For The Skies"</a> I eluded to the reasons why some of the towers being built in Sydney will fall. Not in a literal sense but more so from an economic point of view.
What will ignite the primer to set off the economic property meltdown?
I believe the major part of the answer can be found amongst all the lies international investors are being told. The lies that have attracted foreign investors to the glittery shores of Sydney, Brisbane and Melbourne. Like lambs to the developers feasting tables.
Under-supply, huge demand for rental accommodation and the fattest lie could well be that we still hold global recognition on the best standards for building and construction.Yeah right!! and pigs fly.
Return On Investment
The first lie being told and promoted to predominantly Chinese investors is; whatever we build, they will be occupied at a high yielding return. Simply, there will be a high rental return on the amount of money invested. An argument highly supported by the promoters of tales that persuaded many to believe stories of, under-supply due to substantial population growth. We build it, you buy it and we will fill them.
Nonetheless, investors bought and continue to buy. To sweeten the deal, rental guarantees were introduced. The 12 month rental guarantees given to investors in the past, are no longer sustainable due to increased property prices.
To accommodate for the now non attractive 12 month guarantees, we have seen a shift from the 12 month guarantees, to offerings of up to 3 years by some property marketing companies. An increase of time to the guarantee, to account for the rising cost of the property in order to keep feeding the investor’s greed and maintain the illusion of high performing returns.
The first proposition, may have been true in part and in the past. However, the tide has now turned due to the word being spread about high yielding returns, therefore, fueling a greater frenzy of speculative buyers.
An increase of buyers has led to greater demands to build more apartments, and now we have gone past saturation point. It’s certainly being felt in Brisbane, with more than 30,000 apartments about to be completed in the next 12 months.
Sydney, although a little slower, is by all means not too far behind. The only difference is the QLD market is mainly fueled by local investors: SMSF’s, first time mum-dad investors that attended wealth seminars and by Sydneysiders that have made small fortunes with new realized equity in their homes. Yes, not to mention the foreign investor.
Two outcomes have emerged; the first, over supply of property which is now starting to create concerns among property management teams as rental yields fall. The second, evidenced by our own property management teams and other office’s is the increase in percentage vacancy rates.
Get Rich Quick Schemes
The get rich quick schemes seemed to run at all levels. From the Marketing Agents to the developers to even the investors themselves.
The Marketing Agents, and I purposely avoid in calling these companies Real Estate Agencies, are receiving up to 10% or close to $50,000-$60,000 commissions on sales of $700,000 properties. These exuberant commissions encourages these agencies to exploit the international investor. Their own mates, family and friends.
The Investors on the other hand, have made some serious money. The ones that got in early that is. The ones that bought in markets where the values only reached $600,000 at the time and they were receiving $550/week rentals.
The newbies however, are now coming in to the same markets and with price tags of $850,000 – Hey stupid! The rents are still $550/week.
The developers, for the purpose of this article I will only concentrate on the NEW BREED (NB) of developers. The NB are also international investors that have no history in construction but have found a way to milk the system at a higher level. They have bought with them so much uncertainty and low level workmanship, it is staggering how some of their buildings pass certification requirements.
Unfortunately some of our local developers have been fanning the flames of this hot property market. Can you blame them? After all, they are running a business. Part of me does and another part of me doesn’t blame them. The part that does, is the side that questions the ethics around "marketing fees" to entice the International Investor by the Property Marketing Companies. Along with this, is the commissions paid to financial planners and the finance industry to also market some projects.
What will level this market will be no different to what we saw 10 years ago: oversupply, vacancy rates on high projections and the ongoing costs to investors to repair bad workmanship. Again I say, the only difference is; the towers are higher, deeper and bulkier. The higher they build, the greater the fall.
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-thin.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
 
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The higher the building the greater the fall: Edwin Almeida

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Melbourne’s booming auction market, with a record 40,000 auctions last year, attracts headlines. But behind the scenes are the quiet achievers: private sales, actually the means by which most homes across Victoria, including in Melbourne, are sold.
While the number of auctions has grown, with vendors seeing the high prices obtained at auction by others and wanting that for their own home, more than 60 per cent of all sales in Melbourne last year were private sales. This resulted in close to 50,000 Melbourne homes being sold through private sale over the 12 months.
While auctions can be favourable to the seller, with the white heat of competition encouraging ever-higher bids and buyers to be highly assertive, private sales avoid that stress. They also allow a longer marketing period than an auction campaign, which is generally a month. 
Traditionally outer suburbs and regional areas, where homes can take longer to sell than in the highly competitive inner suburbs of Melbourne, have been the main centres of private sale activity. 
And last year was no different, with almost all of the top private sale suburbs in Melbourne’s outer region.
The trend has continued in 2015 – with the outer eastern, southern and western suburbs leading the way. Among those with the most private sales this year have been Frankston with 635, Pakenham with 620, Point Cook with 571 and Croydon with 470. Also on the top 10 list were: Mornington, Mooroolbark and Mount Martha.
The active property market in Mildura resulted in 560 private sales for that year, Victoria’s fifth highest total.
What may come as a surprise to some is the number of private sales in Melbourne city itself. In the city of Melbourne there were 717 private sales – a result of the large number of apartment private sales in Docklands and the CBD. Another top performer was the very large middle north suburb of Reservoir, which racked up the highest auction total for the year, and also had the eighth highest total private sales: 409.
While private sale levels are still extremely high, there has been a steady growth in auction levels statewide. So while in January and February last year just 12 per cent of all sales in outer suburbs were by auction, that had risen to 18 per cent in the first two months of this year. Areas with the largest increase in sales by auction included Rosebud, Craigieburn, Edithvale, Springvale and South Morang.
This reflects the value offered by outer suburbs, where population growth is leading to improved infrastructure including shopping centres such as the expanded centre in Craigieburn, transport hubs such as the station at South Morang to which the Epping line was extended, and recreation facilities.
Affordability is also a driver of outer suburban sales in 2015. Melbourne’s most affordable locations at present include Werribee, Hoppers Crossing, Carrum Downs, Wyndham Vale and Hampton Park.
While clearance rates – that is the percentage of properties at auction that sell – are a measure of the health of the auction market, days on the market are the comparable measure for private sales. All the suburbs in which properties sold fastest in February were in outer Melbourne – and, more specifically, outer eastern Melbourne. Top of the list was Croydon Hills with 17.5 days on the market, followed by Croydon South with 19 days and Montrose and Ringwood, both with 21.
Others on the list of the top 10 fastest selling areas were the Basin, Chirnside Park – the biggest improver compared with January, down by 2.5 days to 23, Mooroolbark, Yallambie, Scoresby and Kilsyth.
<a href="https://reiv.com.au/news-resources/latest-news/ceo-steps-down-after-16-years" target="_blank">Enzo Raimondo is the REIV Chief Executive Officer</a>
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enzoraimond-7fvRFHPR52

Melbourne auction versus private treaty numbers: REIV's Enzo Raimondo

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What is it about Sydney people that makes them so sensitive to interest rates when no one else in Australia is?
If we can believe popular analysis, interest rates cuts are like steroids to Sydney residents. They get all pumped up by them and charge around lifting things that were financially too heavy for them previously.
But the 81% of Australians who live outside Greater Sydney are immune. They’re exposed to the same stimulus but it has no visible effect on them. Curious modern phenomenon.
Anyone with a keen eye for observation and an inquiring mind – the qualities that journalists used to have, back in the day – might wonder why Canberra people, for example, have such a strong immunity to the rates steroid.
It certainly made me wonder, so I checked to make sure they have the same interest rates in the national capital as they have three hours up the road in the NSW capital. And, sure enough, they do.
And guess what else? They have the same interest rates in Melbourne, Brisbane, Perth, Darwin, Adelaide and Hobart as well. 
I had assumed rates must be much higher in all those places because, according to the latest figures from cor blimey RP Data, apartment prices are falling in Perth, Darwin, Hobart and Canberra – and have barely moved in Melbourne, Brisbane and Adelaide, whereas they’re up 10% in Sydney.
Here are some of the headlines since the RBA interest rates decision last week:
<ul>
<li>Rate cut adds to Sydney buying frenzy</li>
<li>Rate cut dangerous for property market</li>
<li>Rate cut could destabilize property market</li>
<li>RBA rate cut will put pressure on property market</li>
</ul>
Some of the reaction to the interest rate reduction bordered on the ludicrous. We had a slightly hysterical president of the Real Estate Institute of NSW, Malcolm Gunning, claiming the rate cut meant young people would be forced to leave Sydney. Sam White from Loan Market said the rate cut would make the market unsustainable and unaffordable.
We even had Adelaide pundits claiming the rates decisions would fire up the local property market. Why all those previous rate cuts had failed to achieve that was not explained. 
We’ve had almost four years of falling interest rates and none of those previous cuts have generated a boom in Adelaide – or anywhere else in capital city Australia, apart from Sydney - but this latest reduction is going to “fire up” the market, apparently.
So where did this notion that interest rates were the prime factor in residential real estate dynamics originate? Yes, you guessed it – it’s the love child of our under-class of chattering economists.
Watching an economist discuss real estate is like listening to a close friend of mine discuss rugby. She understands that a ball is involved but she’s never sure whether it’s round or oval - or whether you need to kick it over the bar or under it. She is sure about one thing, though - that it doesn’t make a lot of sense and far too many people are obsessed with it.
I recently spoke to a boardroom luncheon in Sydney, attended by 12 or 15 people with “economist” somewhere in their titles and all from big name companies and institutions. What they collectively knew about residential property could be written on the back of a postage stamp in crayon. In the minds of most of them, there’s a national property boom and it’s caused by low interest rates.
They’re the masters of the universe and they know close to nothing.
There’s another thought about this whole obsession with interest rates and the belief they are central to movements in property markets. Investors who are fundamentally driven by interest rate cuts are not thinking clearly. The current level of interest rates is largely irrelevant to sensible decision-making about property investment.
Anyone who borrows now to invest will face dozens of interest rate changes over the life of their loan. The current level of rates is not a core consideration. The core question for investors should be: if rates at some point rise 2 or 3 percentage points above their current levels, can I still afford the repayments?
If you’re charging around like the steroid-induced herd animals in Sydney, you’ve missed that fundamental point.
TERRY RYDER is the founder of <a href="https://www.hotspotting.com.au/">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter</a>.
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Sensitive Sydneysiders reel at rates: Terry Ryder

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The Australian Bureau of Statistics (ABS) released data mid-May which revealed that 48.7% of state and local government taxation revenue over the 2013-14 financial year came from property related taxes.
The data showed that over the year, state and local governments collected a record $40.485 billion in taxes from property related sources. In comparison, they collected $21.341 billion in taxes from employers, $11.208 billion in taxes from the provision of goods and services and $10.024 billion in taxes on the use of goods and performance of activities.
As this shows, at a state and local government level property taxes are the largest source of revenue. Although property accounted for 48.7% of total tax revenue over the year, it has previously accounted for as much as 50.6% of all revenue in 2003-04.
<img class="aligncenter size-full wp-image-4780" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/Chart-13.jpg" alt="Chart 1" width="500" height="183">
The total value of property related taxes increased by 12.6% over the most recent financial year. This represents the greatest year-on-year increase in property related tax revenue since it rose 14.3% over the 2009-10 financial year. In comparison, taxes on employer’s payroll and labour force rose by 2.8%, taxes on the provision of goods and services rose 1.2% and taxes on the use of goods and performance of activities rose 3.5%. Overall, state and local government tax revenue increased by 7.2% over the year.
With home values nationally beginning to rise in June 2012, it is clear that state and local governments are a major benefactor of the strong housing market conditions. With higher home values, taxes such as land tax, municipal rates and stamp duty on conveyances all increase. Conversely when housing market conditions shift and value growth slows or values falls the largest source of tax revenue (property) is adversely affected.
<img class="aligncenter size-full wp-image-4781" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/Chart-22.jpg" alt="Chart 2" width="500" height="513">
Of the $40.485 billion in property related tax revenue collected in 2013-14, 40% came from municipal rates and 36% came from stamp duties on conveyances. Land tax was the only other sizeable contributor to property related tax accounting for 17% of revenue. Over the year the most significant increase in property related taxes came from stamp duty, up by 24.4%. The amount of tax revenue collected from municipal rates increased by 5.3%, and land taxes increased by 2.8%.
Property related tax revenue is only collected by those who own properties. Ultimately every property is owned by someone, some as an owner occupier and some as an investor. The taxes levied against property are typically only payable by the owner of the property. Given this, those who choose to rent rather than own property pay no tax on property. Not to mention the fact that the cost of renting is typically much lower than the cost of owning.
State and local governments have clearly experienced a significant revenue boost via the improvement in the residential housing market over the year. Stamp duty in particular has seen a significant rise. With sales volumes and property values rising there have been more sales to receive stamp duty from and at a higher price which also increases the stamp duty collected.
Of course, the issue with stamp duty is that it is a tax only collected across those properties which sell. From a residential perspective this is just 5% to 7% of the total housing stock over a given year. Stamp duty also acts as a disincentive for home owners to transact property on a more regular basis because it is a tax paid on a new purchase.
<img class="aligncenter size-full wp-image-4782" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/Chart-32.jpg" alt="Chart 3" width="500" height="182">
Looking more closely at stamp duty over time you can see just how inefficient the tax is, being heavily reliant on the performance of the housing market. The 2013-14 financial year was a bumper one for stamp duty revenue thanks to strong growth in home values and an increase in sales activity. As we’ve seen in the past, these good times won’t last forever and eventually state and local governments will feel the impact of a downturn in tax revenue as the housing market cools.
I have previously argued that the removal of stamp duties would encourage greater mobility of residents and provide less of a barrier to those home owners looking to upgrade or downsize. Of course state and local governments would lose 36% of their property related tax revenue and 17% of their total taxation revenue. 
Replacing stamp duty with a blanket land tax, another tax, would likely be unpopular and you’d have to consider how equitable that would be particularly for those who have recently paid stamp duty (if a blanket land tax regime were to be introduced it would likely be accomanpied by compensation or discounts to those who recently purchased under the stamp duty regime). 
To put a blanket land tax into perspective to cover the $15.976 billion in stamp duty revenue over the 2013-14 financial year, each residential dwelling would have to pay $1,705.60 based on the ABS estimate of 9,366,800 residential dwellings as at June 2014. 
Keep in mind that stamp duty isn’t just payable on residential property transactions and more revenue is available from commercial and industrial properties or the cost per home could be reduced.
<img class="aligncenter size-full wp-image-4783" src="https://blog.corelogic.com.au/wp-content/uploads/2015/05/Chart-42.jpg" alt="Chart 4" width="500" height="149">
Over the year, stamp duty revenue was higher in each state and territory except for the Australian Capital Territory (-1.7%). Across the other states the rise in stamp duty revenues were recorded at: 32.3% in New South Wales, 27.9% in Victoria, 27.3% in Queensland, 2.1% in South Australia, 9.5% in Western Australia, 10.8% in Tasmania and 12.7% in the Northern Territory.  
According to the CoreLogic RP Data Home Value Index, home values rose across each capital city except for Darwin over the year with the largest rises in Sydney, Melbourne and Brisbane. Clearly home value rises across the capital city markets have had a positive effect on stamp duty revenues.
The data highlighted shows that property related taxes are the most important source of revenue for state and local governments, accounting for 48.7% of their total taxation revenue. The issue of course is that these levels of government are looking to constantly grow their revenues. The two main sources of property related revenue are rates and stamp duty. Rates can be grown by encouraging a greater number of ratepayers into a region (create more housing) and stamp duty can only be lifted by changing the rates or encouraging higher prices and/or more sales. 
In certain regions increasing the supply of ratepayers is not possible so it is clear that stamp duty is an extremely important source of revenue.  With capital city home values continuing to rise throughout the 2014-15 financial year, we anticipate that stamp duty will be higher once again. The question is whether governments can continue to rely on property being a one-way bet?
The ACT has already announced a phase out of stamp duty over the next two decades, and there is also discussion around a move away from stamp duty in South Australia.  The major benefit to State governments under a broad land tax arrangement as opposed to stamp duty would be the consistency of revenue flows rather than the lumpy market driven revenue which is evident under the stamp duty system.
Cameron Kusher is CoreLogic RP Data’s senior research analyst. You can read his posts here.
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Property related tax revenue surpasses $40 billion: Cameron Kusher

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At 6.00 pm on Saturday 11 October , the James Clearance Rate for Melbourne's $1 million plus property was 66% on the 32 auctions we covered.
Our overall summary of Melbourne's million dollar-plus auctions:
<ul>
<li>Ducks (auctions with no bidders): 18%</li>
<li>Lone Rangers (auctions with one bidder): 18%</li>
<li>Norms (auctions with two or three bidders): 36%</li>
<li>Volcanoes (four or more bidders at auction): 28%</li>
</ul>
Biggest auctions:
<ul>
<li>Camberwell, 73 Bowen Street (Paul Richards, Bekdon Richards), under hammer, $3,600,000, 6 bidders. <img src="/images/2014/10/16/Bowen-597x399.jpg" alt=""> Auction of the day: a huge crowd of more than 100 people at the auction of 73 Bowen Street. 
</li>
<li>Hawthorn, 74 Robinson Road (Scott Patterson, Kay &amp; Burton), under hammer, $2,820,000, 4 bidders, pictured below. <img src="/images/2014/10/16/hawthorn.jpg" alt=""> 
</li>
<li>Albert Park, 382 Montague Street (Kaine Lanyon, Marshall White), under hammer, $2,750,000, 3 bidders, pictured below. <img src="/images/2014/10/16/albertpark.jpg" alt=""> 382 Montague Street auction shown in main picture.
</li>
</ul>
Bidder buzz:
<ul>
<li>Malvern East, 28 Darling Road (Daniel Wheeler, Marshall White), under hammer, $1,391,000, 6 bidders</li>
<li>Glen Iris, 19 Ashburton Road (Andrew Gibbons, Marshall White), under hammer, $1,910,000, 5 bidders</li>
<li>Camberwell, 20 Killarra Avenue (Damien Davis, Jellis Craig), under hammer, $1,660,000, 5 bidders</li>
</ul>
Biggest Pass Ins:
<ul>
<li>East Melbourne, 81 Wellington Parade, passed in, $4,000,000, no bidders</li>
<li>Balwyn North, 48 Tuxen Street, passed in, $3,750,000, no bidders</li>
<li>Balwyn, 1 Monash Avenue, passed in, $2,775,000, 2 bidders</li>
</ul>
 This article continues on the next page. To read Mal James' market summary, click below. 
<hr class="system-pagebreak">
 
The post Grand Final market summary trifecta
<ol>
<li>
DEMAND It feels like there should be strong interest prior to the Melbourne Cup for good homes. We have a number of auctions we are bidding on in the next fortnight (but still some vacancies). Open for Inspections for good homes have been crowded and prior to the Grand Final, we have been consistently recording over 2.2 bidders per auction.</li>
<li>
VENDOR PRICING Many agents on the selling side are moaning about some vendors opinions on price. We have no issue with that – it's their home – it's a free country – but they are not selling. While we have bought four in the last week: <ul>
<li>A Toorak off-market apartment (Marcus Chiminello)</li>
<li>A Malvern East off-market home (John Manton)</li>
<li>A Brighton family home at auction (Regina Schmidt)</li>
<li>A South Melbourne apartment at auction (Gary Omrod)</li>
</ul>
We have also walked away from several negotiations where we have offered good money and got a reply we couldn't go near. I went through two on Saturday and walked straight out when told the price. I admire courage but a few sellers right now are into "hero" territory on asking price. <img src="/images/2014/10/16/Oct25-Super-Saturday-597x448.jpg" alt=""> Next Week is a Super Saturday and the week after, 25 October, is always expected to be a big one, but is now actually a huge one – as my feeble graph above attempts to show. 
</li>
<li>
SUPPLY Let's be happy as we are at the highest levels of good quality stock across all price levels, in almost all market segments since May 2010. And the quality spread is very good – I've been to a number of absolutely brilliantly built/renovated homes. Here are three I have rated but are currently not acting for a buying client on:
<ul>
<li>11 Malin St Kew (Greg Toogood). James Rating: 783/1000</li>
<li>3 Myamyn Avenue Armadale (Peter Bennison). James Rating: 801/1000</li>
<li>A $10m+ old classic in East Melbourne (Jeremy Fox). James Rating 800/1000</li>
</ul>
</li>
</ol>
It's a little tighter by the Bay for the classics but there is plenty out there. So if you can't find something to tickle your fancy now, then you may have to revisit your fancy or your tickle – there is a lot of good property for sale right now.
 Mal writes weekly auction reports, advice and in-depth market analysis on his <a href="https://www.jamesbuyeradvocates.com.au/" target="_blank">website</a>.
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Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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New apartments

New townhouses

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