Builder-developer <a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a> has wasted little time reshaping one of South Brisbane's most significant undeveloped apartment sites after acquiring the property earlier this year.&nbsp;

McNab has lodged plans to scrap an existing approval for two 30-storey towers and instead deliver a single 28-storey residential building, preserving part of the site for a future development opportunity.

The proposal, lodged over <a href="https://www.apartments.com.au/new-apartments/64-peel-street-south-brisbane-qld-4101">64 Peel Street and 9 Cordelia Street</a>, is for a residential-led mixed-use development comprising 124 apartments above a landscaped podium, alongside a boundary realignment that preserves part of the land for a future residential project.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="743bf564-3f8f-45fc-b8d3-bbf18f5b628f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20Peel%20st%20podium.png?VersionId=EhCxGrVn_VFH3qTbKnI4WppGwaMnOn0t" />

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a>, the development will deliver 119 two-bedroom and five three-bedroom apartments across 23 residential levels. A five-level podium will accommodate 135 car spaces, while the ground floor will include a 66 sqm commercial tenancy, an activated residential lobby with work-from-home spaces, and a publicly accessible landscaped plaza linking Cordelia and Peel streets.&nbsp;

Communal amenities will span Level 6 and the rooftop, including indoor and outdoor recreation spaces, a swimming pool, barbecue facilities, kitchen and dining areas, lawn space, sauna, steam room and yoga facilities.

The application also proposes a boundary realignment to create a standalone 1,290 sqm development lot while retaining an adjacent parcel for future redevelopment, allowing the balance of the site to contribute additional housing over time.

Hayball said the architecture has been shaped by the site's elevated corner position at the intersection of Peel and Cordelia streets and Brisbane's subtropical climate.

The design incorporates generous landscaped setbacks, a masonry podium wrapped with planting, large north-facing balconies, and a slender tower profile intended to maximise natural light, cross ventilation and long-range views. The rooftop has been conceived as a wellness-focused retreat overlooking Brisbane, with amenities positioned to capture views towards Mount Coot-tha and the CBD.

<img alt="First look: McNab resets decade-old South Brisbane approval with 124-apartment tower" data-entity-type="file" data-entity-uuid="c5f99e84-6ad8-4a87-82d1-869685b754d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/mcnab%20tower%20perspective.png?VersionId=Gw0IuJaSAlk.tvGBxInhZOcQAdIB..2b" />

The planning submission positions the proposal as a response to both changing market conditions and Brisbane's Kurilpa Sustainable Growth Precinct planning reforms.

McNab acquired the site after the previous approval was granted, with the existing scheme no longer reflecting current residential market demands, economic conditions, construction challenges, construction efficiencies or the quality of development outcome now being pursued, the planning report noted.

McNab continues to expand its residential development pipeline across Brisbane and the Gold Coast. The developer recently launched The Tannery in West End, securing more than 60 per cent of apartments before the project's public release. It is also delivering Elements Budds Beach in Surfers Paradise and Lucia Highgate Hill, an eight-apartment boutique development overlooking the Brisbane River.

Joel Robinson

McNab resets decade-old South Brisbane approval with 124-apartment tower

A steeply sloping Bellevue Hill site is set to accommodate a new mid-rise apartment development, with plans lodged for 20 homes that respond to the site's dramatic topography.

The proposal for the consolidated land at <a href="https://www.apartments.com.au/new-apartments/138a-140-bellevue-road-bellevue-hill-nsw-2023">138A-140 Bellevue Road</a> has been designed by Sydney architecture practice Common Office, which has used the site’s substantial fall to distribute the building’s scale and unlock 20 apartments without presenting the full height to the street.&nbsp;

“The unique design strategy leverages the site’s substantial topographical fall to facilitate increased density, presenting a seven-storey profile to Bellevue Road while rising to 10 storeys at the rear,” Common Office said in its architectural design report.

The apartment mix spans one, two, three- and four-bedroom residences. Four two-bedroom apartments are designated as affordable housing, while the plans also include two adaptable dwellings. The mix is majority three-beds, with the typical three-bed apartment offering around 144 sqm internally, with balconies of around 15 sqm.

The affordable housing component represents 15 per cent of the residential floor area and allows the project to access additional height and floor space under the NSW Government’s in-fill affordable housing provisions. The site also falls within the inner area of the Low and Mid-Rise Housing Policy because it is within 400 metres walking distance of Double Bay Town Centre.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="b1230d0f-3bfa-4a11-abaf-0928c66ef345" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da.png?VersionId=dZeMK3P.OutGjN8ycjsxm8uNsj_QFWQv" />

Common Office has arranged the building around a masonry podium and a lighter upper volume, drawing on two recurring elements of Bellevue Hill’s established architecture: sandstone bases and the vertical proportions of local Inter-war Art Deco apartment buildings.

“The proposal is governed by a holistic design language that reconciles the solid horizontal masonry of the neighbourhood’s podiums with the elegant verticality of its Art Deco heritage,” the architect said.

“The building maintains a consistent rhythmic logic utilising deep recesses and a sophisticated material transition to break down the 10-storey scale into a series of articulated, human-scale volumes.”

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="0147f503-1af1-4d51-97fb-c2f1cba63a9d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20bldg.png?VersionId=GoW7q3NlK67OpnePXhk7zvklrlKb72Qc" />

Large-format sandstone tiles will define the lower levels, establishing a robust base that negotiates the change in elevation from Bellevue Road. Above, red-tinted precast concrete frames, recessed balconies, anodised aluminium screens and expanded metal details will create a more vertically expressed façade. Integrated planter beds will introduce greenery across balcony edges and recessed sections of the building.

The elongated northern façade has been divided into three recessed vertical masses to reduce its perceived length. Triangular window elements and metal privacy screens reference the geometry of nearby Art Deco buildings while controlling overlooking toward surrounding homes. The southern elevation will incorporate further privacy screening, landscaped edges and deep balconies to maintain light and ventilation.

<img alt="First Look: Plans lodged for topography-led affordable housing project in Bellevue Hill" data-entity-type="file" data-entity-uuid="e8679cf1-18bc-4447-8a0f-0052b94ab83c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Bellevue%20da%20rooftop.png?VersionId=5SQqQqRFf76rvE2p1TbxJSweMN70AIbc" />

Private and communal landscaping is distributed throughout the development. A landscaped garden apartment is positioned within the lower portion of the site, while a communal terrace on Level 5 will include a central timber deck, barbecue facilities, resident planting plots and areas for outdoor dining and informal gatherings.

Common Office described the terrace as an elevated sanctuary designed to capture district views and sunlight. Its planting strategy incorporates endemic species associated with the Eastern Suburbs Banksia Scrub, extending the landscape vertically through the building and providing habitat for local flora and fauna.

A second communal outdoor area is proposed at roof level, with built-in seating, paved gathering areas and perimeter planting.

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction. Positive Investment Enterprise is delivering the 16-apartment Kew Palm House on Birriga Road, while Chanine Developments is also under construction at Florian, a 36-apartment project on Banksia Road.

&nbsp;

Bellevue Hill is enjoying renewed momentum in the new apartment market, with several boutique developments recently launched and currently under construction.

First Look: Apartment development pitched for Bellevue Hill, Double Bay fringe

South Brisbane's apartment pipeline continues to build momentum, with <a href="https://www.apartments.com.au/developers/trk-property-group">TRK Property Group</a> lodging plans for a 161-apartment tower on Montague Road as developers accelerate investment across the Kurilpa Sustainable Growth Precinct.

The proposal for 176–186 Montague Road would replace an existing office building with a 20-storey residential tower designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, adding to a growing pipeline of high-density projects reshaping one of Brisbane's fastest-evolving inner-city precincts.

The project has been conceived as a "living building", featuring a flowing tower form, extensive vertical landscaping, and generous communal spaces that respond to the evolving Kurilpa Sustainable Growth Precinct.

TRK Property Group Development Director Matt Kan said the project reflected the confidence developers have in South Brisbane's long-term future.

"South Brisbane is entering an incredibly exciting period, and we see Montague Road sitting right at the heart of that evolution," Kan said.

"With the former Visy site directly opposite us and significant investment planned throughout the broader Kurilpa precinct, there is a real sense of momentum around this part of the city and what it will become over the coming years.

"For TRK, this is an opportunity to be part of that next chapter and deliver a project that responds to where the precinct is heading, while contributing to the continued evolution of Brisbane's river edge."

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="590fe1ad-f892-4446-a679-80e33a16d029" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20tower%20facade.png?VersionId=uOJStrcKpyHFcPE1w6_9SMAFzVMCcZll" />

The scheme includes a mix of one, two, three and four-bedroom apartments, incorporating multi-purpose rooms in selected residences to provide additional flexibility for home offices or expanded living areas. The proposed mix comprises 15 one-bedroom, 13 one-bedroom plus MPR, 73 two-bedroom, 26 two-bedroom plus MPR, 30 three-bedroom, and four four-bedroom apartments.

Rather than adopting a conventional rectilinear tower, COX Architecture has developed a sculpted form inspired by the movement of the Brisbane River.

"The proposal has been designed by COX Architecture as a 'living building' that responds to the site's riverine setting, floodplain history and evolving urban context within the Kurilpa Sustainable Growth Precinct," the planning report states.

"The architectural form draws from the fluid nature of the Brisbane River, with a curved and undulating tower form that creates a varied architectural edge and avoids a conventional rectilinear tower expression."

The podium has also been designed as an architectural feature rather than a conventional parking structure, with cascading planting, screening and natural-toned materials softening its appearance. Resident parking is elevated above ground level to address the site's flood constraints, while habitable apartments sit above flood planning levels. Upper-level communal facilities are designed to accommodate shelter-in-place arrangements during major flood events.

<img alt="First look: TRK Property joins South Brisbane apartment surge with Montague Road tower plans" data-entity-type="file" data-entity-uuid="01fa15d0-90df-46c7-9555-7941fc45373c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/TRK%20podium.png?VersionId=mHyua.w1pHGBt9qEdWzrlsv.leztUCwO" />

Communal amenity is a major focus of the proposal. Around 1,815 sqm of shared resident space is proposed across the ground floor, level 19 and the rooftop, including co-working areas, indoor and outdoor recreation spaces, wellness facilities, dining and gathering areas, lawn spaces, a rooftop pool and spa, and extensive landscaping. At street level, a landscaped forecourt and approximately 345 sqm of publicly accessible open space along Montague Road are intended to improve the pedestrian experience while activating the building's frontage.

The development will provide 163 car spaces, including 152 resident bays and 11 visitor spaces, together with 144 bicycle spaces incorporating resident storage, visitor parking, bicycle maintenance facilities and e-mobility charging infrastructure.

The site sits within one of Brisbane's fastest-changing inner-city precincts, less than two kilometres from the CBD and within easy reach of South Bank, West End, the Queensland Cultural Centre and extensive public transport connections. The Kurilpa Sustainable Growth Precinct planning framework is encouraging higher-density residential development to help meet Brisbane's housing supply targets while supporting walkable, transit-oriented neighbourhoods.

TRK Property joins South Brisbane apartment surge with Montague Road tower plans

Article summary

<ul data-end="785" data-start="311">
	<li data-end="459" data-section-id="5hbcyr" data-start="311">Pikos Group has released the five-penthouse collection at Skye Kangaroo Point, headlined by a two-storey sky home spanning more than 1,000 sqm.</li>
	<li data-end="561" data-section-id="1p7lq8n" data-start="460">Early buyer interest suggests the residences could set a new Queensland apartment price record.</li>
	<li data-end="667" data-section-id="1y70z0l" data-start="562">The collection includes four move-in ready penthouses and the highly customised Skye One residence.</li>
	<li data-end="785" data-section-id="yvm0y1" data-start="668">The release caps one of Bri​sbane's most ambitious luxury apartment developments overlooking the Brisbane River.</li>
</ul>

<hr data-end="790" data-start="787" />
Pikos Group has released the five-penthouse collection at its <a href="https://www.apartments.com.au/buildings/skye-residences-by-pikos-kangaroo-point-8-river-terrace-kangaroo-point-qld-4169">Skye by Pikos</a> development in Kangaroo Point, with early buyer interest indicating the flagship residences could eclipse every apartment sale previously recorded in Queensland.

The collection crowns the luxury riverfront development with five residences, including four completed penthouses and Skye One, a two-level sky home spanning more than 1,000 sqm that will be tailored to its eventual owner.

[smartcode_project:default project_id=90059 project_image_fid=374075]

Wanting to offer a fully customisable home, Pikos is offering Skye One as a blank canvas, allowing the buyer to work alongside the developer's design team to customise the home's layout, finishes and internal spaces.

The residence will feature a 247 sqm private rooftop terrace with its own swimming pool, sauna, steam room, outdoor kitchen and multiple entertaining areas overlooking the Brisbane River and CBD skyline.

The remaining four penthouses have been completed and are ready for immediate occupation, each offering four bedrooms, expansive open-plan living areas, soaring ceilings and private lift access.

[smartcode_project:default project_id=90059 project_image_fid=374059]

One of the defining features throughout the project is its use of Roman Classic Travertine, with more than 20,000 sqm of the natural stone imported from Italy after being personally selected by Pikos Group Founder and Executive Director Pedro Pikos, interior designer Julie Williamson and third-generation stone specialist Mario Caucci.

Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.

"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.

"Our ambition is to create places that become more valuable with time, enrich the lives of generations, and stand as timeless landmarks long after we've stepped away."

[smartcode_project:default project_id=90059 project_image_fid=374060]

Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.

"Materiality tells the story of a place," Williamson said.

"We looked to the movement of the Brisbane River, the texture of the cliff face and the warmth of the surrounding landscape to create interiors that feel understated, enduring and unmistakably Brisbane."

Positioned above the Kangaroo Point cliffs, Skye places residents within walking distance of Howard Smith Wharves, South Bank and James Street while offering uninterrupted river and city views.

[smartcode_project_cta:default project_id=90059]

Brisbane's next apartment price record? Pikos unveils Skye's exclusive penthouse collection

Article summary

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289">DVB Projects is preparing to launch its second Gold Coast apartment development, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443">The 34-level tower will comprise just 49 ultra-luxury residences, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574">The launch follows strong demand at DVB's nearby Sea Glass project, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718">The development adds to the transformation of Old Burleigh Road, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.

The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" />

The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.

“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;

“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."

Brown says the site itself is "exceptional."

"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." />

The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.

A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.

Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" />

Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.

“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.

“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.

“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”

<img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" />

Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.

With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.

[smartcode_project_cta:default project_id=145141]

DVB Projects to launch second Broadbeach apartment tower as demolition commences

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

<html><body>
The 10 suburbs where house prices fell the most during the past year are Williamstown, Beaumaris, Flemington, Windsor, Balwyn North, Tullamarine, Moonee Ponds, Brunswick East, Brighton and Prahran, according to the Real Estate Institute of Victoria.
The 10 suburbs where unit prices fell the most during the March quarter are Fitzroy, South Melbourne, Flemington, Windsor, Heidelberg Heights, Richmond, St Albans, West Footscray, Mornington, Caulfield North.
The 10 suburbs where unit prices rose the most during the past year are Canterbury, Maidstone, Black Rock, Bentleigh East, West Melbourne, Abbotsford, Bentleigh, Malvern, Caulfield South and Malvern East.
The 10 suburbs where unit prices rose the most during the March quarter are Blackburn, Balwyn, Donvale, Mount Eliza, Bentleigh, Greensborough, Malvern, Brighton, Niddrie and Kensington.
The REIV suggests more than 30 sales are necessary in order to get an informed view of the suburb's median house price, but even with that number there will be distortions in quarterly median prices given the composition of sales during the period.
 
<table width="362" cellpadding="0" cellspacing="0" border="0">
<colgroup>
<col width="159">
<col width="69">
<col width="84">
<col width="50">
</colgroup>
<tbody>
<tr height="39">
<td width="159" height="39"></td>
<td width="69">Mar-12 Median</td>
<td width="84">Quarterly Change</td>
<td width="50">Annual Change</td>
</tr>
<tr height="17">
<td height="17">ABBOTSFORD*</td>
<td>$665,000</td>
<td>11.4%</td>
<td>27.9%</td>
</tr>
<tr height="17">
<td height="17">AIRPORT WEST*</td>
<td>$443,000</td>
<td>-0.7%</td>
<td>-10.0%</td>
</tr>
<tr height="17">
<td height="17">ALTONA NORTH*</td>
<td>$480,000</td>
<td>4.3%</td>
<td>-12.7%</td>
</tr>
<tr height="17">
<td height="17">ALTONA*</td>
<td>$400,000</td>
<td>-8.0%</td>
<td>-12.9%</td>
</tr>
<tr height="17">
<td height="17">ARMADALE*</td>
<td>$592,000</td>
<td>-0.8%</td>
<td>11.1%</td>
</tr>
<tr height="17">
<td height="17">ASCOT VALE*</td>
<td>$435,000</td>
<td>-1.7%</td>
<td>-11.7%</td>
</tr>
<tr height="17">
<td height="17">ASPENDALE*</td>
<td>$595,000</td>
<td>12.1%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">AVONDALE HEIGHTS*</td>
<td>$448,250</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">BALWYN NORTH*</td>
<td>$675,000</td>
<td></td>
<td>-22.4%</td>
</tr>
<tr height="17">
<td height="17">BALWYN*</td>
<td>$743,000</td>
<td>22.3%</td>
<td>2.8%</td>
</tr>
<tr height="17">
<td height="17">BAYSWATER NORTH*</td>
<td>$312,500</td>
<td>-2.6%</td>
<td>-9.9%</td>
</tr>
<tr height="17">
<td height="17">BAYSWATER*</td>
<td>$390,000</td>
<td>9.9%</td>
<td>1.3%</td>
</tr>
<tr height="17">
<td height="17">BEAUMARIS*</td>
<td>$678,000</td>
<td>0.9%</td>
<td>-30.3%</td>
</tr>
<tr height="17">
<td height="17">BENTLEIGH EAST*</td>
<td>$673,500</td>
<td>-3.8%</td>
<td>21.4%</td>
</tr>
<tr height="17">
<td height="17">BENTLEIGH*</td>
<td>$671,250</td>
<td>23.6%</td>
<td>29.1%</td>
</tr>
<tr height="17">
<td height="17">BLACK ROCK*</td>
<td>$739,000</td>
<td>7.9%</td>
<td>21.1%</td>
</tr>
<tr height="17">
<td height="17">BLACKBURN SOUTH*</td>
<td>$569,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">BLACKBURN*</td>
<td>$632,000</td>
<td>20.8%</td>
<td>13.7%</td>
</tr>
<tr height="17">
<td height="17">BONBEACH*</td>
<td>$355,000</td>
<td>-9.0%</td>
<td>-7.9%</td>
</tr>
<tr height="17">
<td height="17">BORONIA</td>
<td>$362,000</td>
<td>2.0%</td>
<td>-0.5%</td>
</tr>
<tr height="17">
<td height="17">BOX HILL NORTH*</td>
<td>$525,000</td>
<td>5.0%</td>
<td>-5.1%</td>
</tr>
<tr height="17">
<td height="17">BOX HILL SOUTH*</td>
<td>$564,750</td>
<td>9.2%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">BOX HILL*</td>
<td>$409,400</td>
<td>3.2%</td>
<td>-7.5%</td>
</tr>
<tr height="17">
<td height="17">BRIGHTON</td>
<td>$876,000</td>
<td>30.7%</td>
<td>-18.5%</td>
</tr>
<tr height="17">
<td height="17">BRIGHTON EAST*</td>
<td>$767,000</td>
<td>-5.9%</td>
<td>12.4%</td>
</tr>
<tr height="17">
<td height="17">BRUNSWICK</td>
<td>$438,250</td>
<td>10.3%</td>
<td>-2.6%</td>
</tr>
<tr height="17">
<td height="17">BRUNSWICK EAST</td>
<td>$399,000</td>
<td>-3.9%</td>
<td>-18.6%</td>
</tr>
<tr height="17">
<td height="17">BRUNSWICK WEST</td>
<td>$395,000</td>
<td>1.3%</td>
<td>12.9%</td>
</tr>
<tr height="17">
<td height="17">BUNDOORA*</td>
<td>$378,000</td>
<td>11.7%</td>
<td>7.2%</td>
</tr>
<tr height="17">
<td height="17">CAMBERWELL</td>
<td>$600,000</td>
<td>-11.8%</td>
<td>-7.7%</td>
</tr>
<tr height="17">
<td height="17">CANTERBURY*</td>
<td>$750,000</td>
<td>12.8%</td>
<td>20.0%</td>
</tr>
<tr height="17">
<td height="17">CARLTON</td>
<td>$275,000</td>
<td>-11.3%</td>
<td>-10.6%</td>
</tr>
<tr height="17">
<td height="17">CARNEGIE</td>
<td>$430,000</td>
<td>-4.4%</td>
<td>-4.9%</td>
</tr>
<tr height="17">
<td height="17">CARRUM*</td>
<td>$409,500</td>
<td>8.5%</td>
<td>-3.6%</td>
</tr>
<tr height="17">
<td height="17">CAULFIELD NORTH*</td>
<td>$473,500</td>
<td>-14.3%</td>
<td>-2.7%</td>
</tr>
<tr height="17">
<td height="17">CAULFIELD SOUTH*</td>
<td>$751,000</td>
<td>1.7%</td>
<td>39.1%</td>
</tr>
<tr height="17">
<td height="17">CAULFIELD*</td>
<td>$515,850</td>
<td></td>
<td>-1.7%</td>
</tr>
<tr height="17">
<td height="17">CHADSTONE*</td>
<td>$470,000</td>
<td>-8.2%</td>
<td>-14.5%</td>
</tr>
<tr height="17">
<td height="17">CHELSEA*</td>
<td>$415,000</td>
<td>19.4%</td>
<td>5.1%</td>
</tr>
<tr height="17">
<td height="17">CHELTENHAM</td>
<td>$462,750</td>
<td>5.5%</td>
<td>-1.0%</td>
</tr>
<tr height="17">
<td height="17">CLAYTON SOUTH*</td>
<td>$435,500</td>
<td>42.7%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">CLAYTON*</td>
<td>$435,000</td>
<td>13.7%</td>
<td>-5.4%</td>
</tr>
<tr height="17">
<td height="17">COBURG*</td>
<td>$451,000</td>
<td>-8.9%</td>
<td>1.1%</td>
</tr>
<tr height="17">
<td height="17">CRAIGIEBURN*</td>
<td>$335,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">CROYDON</td>
<td>$363,500</td>
<td>1.0%</td>
<td>-1.2%</td>
</tr>
<tr height="17">
<td height="17">DANDENONG NORTH*</td>
<td>$332,250</td>
<td></td>
<td>-3.4%</td>
</tr>
<tr height="17">
<td height="17">DANDENONG*</td>
<td>$300,000</td>
<td>-3.8%</td>
<td>-10.4%</td>
</tr>
<tr height="17">
<td height="17">DEER PARK*</td>
<td>$342,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">DOCKLANDS</td>
<td>$645,000</td>
<td>-9.3%</td>
<td>-8.5%</td>
</tr>
<tr height="17">
<td height="17">DONCASTER EAST</td>
<td>$600,000</td>
<td>9.3%</td>
<td>16.1%</td>
</tr>
<tr height="17">
<td height="17">DONCASTER*</td>
<td>$532,500</td>
<td>-11.8%</td>
<td>-0.5%</td>
</tr>
<tr height="17">
<td height="17">DONVALE*</td>
<td>$542,510</td>
<td>22.9%</td>
<td>-4.4%</td>
</tr>
<tr height="17">
<td height="17">EAST MELBOURNE*</td>
<td>$445,500</td>
<td>-5.0%</td>
<td>-12.6%</td>
</tr>
<tr height="17">
<td height="17">ELSTERNWICK*</td>
<td>$520,000</td>
<td>7.9%</td>
<td>7.7%</td>
</tr>
<tr height="17">
<td height="17">ELTHAM*</td>
<td>$440,000</td>
<td>-8.3%</td>
<td>-5.4%</td>
</tr>
<tr height="17">
<td height="17">ELWOOD</td>
<td>$531,500</td>
<td>3.2%</td>
<td>-5.9%</td>
</tr>
<tr height="17">
<td height="17">EPPING*</td>
<td>$300,000</td>
<td>-3.6%</td>
<td>-15.5%</td>
</tr>
<tr height="17">
<td height="17">ESSENDON</td>
<td>$464,000</td>
<td>3.1%</td>
<td>10.6%</td>
</tr>
<tr height="17">
<td height="17">FAIRFIELD*</td>
<td>$405,000</td>
<td>-8.0%</td>
<td>8.2%</td>
</tr>
<tr height="17">
<td height="17">FERNTREE GULLY*</td>
<td>$378,000</td>
<td>-8.4%</td>
<td>3.9%</td>
</tr>
<tr height="17">
<td height="17">FITZROY*</td>
<td>$532,500</td>
<td>-25.0%</td>
<td>-4.8%</td>
</tr>
<tr height="17">
<td height="17">FLEMINGTON*</td>
<td>$308,000</td>
<td>-21.5%</td>
<td>-30.0%</td>
</tr>
<tr height="17">
<td height="17">FOOTSCRAY</td>
<td>$342,500</td>
<td>8.4%</td>
<td>-15.4%</td>
</tr>
<tr height="17">
<td height="17">FOREST HILL*</td>
<td>$419,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">GLEN HUNTLY*</td>
<td>$561,000</td>
<td>16.9%</td>
<td>18.1%</td>
</tr>
<tr height="17">
<td height="17">GLEN WAVERLEY*</td>
<td>$563,800</td>
<td>9.5%</td>
<td>-10.5%</td>
</tr>
<tr height="17">
<td height="17">GREENSBOROUGH*</td>
<td>$457,500</td>
<td>26.4%</td>
<td>4.5%</td>
</tr>
<tr height="17">
<td height="17">HAMPTON</td>
<td>$700,000</td>
<td>16.9%</td>
<td>9.4%</td>
</tr>
<tr height="17">
<td height="17">HAWTHORN</td>
<td>$490,000</td>
<td>5.6%</td>
<td>-3.9%</td>
</tr>
<tr height="17">
<td height="17">HAWTHORN EAST*</td>
<td>$541,550</td>
<td>-10.2%</td>
<td>3.0%</td>
</tr>
<tr height="17">
<td height="17">HEIDELBERG HEIGHTS*</td>
<td>$406,000</td>
<td>-18.1%</td>
<td>-8.8%</td>
</tr>
<tr height="17">
<td height="17">HIGHETT*</td>
<td>$460,000</td>
<td>-7.8%</td>
<td>-12.0%</td>
</tr>
<tr height="17">
<td height="17">HILLSIDE*</td>
<td>$330,000</td>
<td></td>
<td>-7.6%</td>
</tr>
<tr height="17">
<td height="17">HUGHESDALE*</td>
<td>$470,000</td>
<td>-1.1%</td>
<td>-7.8%</td>
</tr>
<tr height="17">
<td height="17">IVANHOE*</td>
<td>$551,000</td>
<td>-3.3%</td>
<td>-10.7%</td>
</tr>
<tr height="17">
<td height="17">KEILOR EAST*</td>
<td>$535,500</td>
<td>2.0%</td>
<td>-17.6%</td>
</tr>
<tr height="17">
<td height="17">KENSINGTON</td>
<td>$527,000</td>
<td>35.1%</td>
<td>16.7%</td>
</tr>
<tr height="17">
<td height="17">KEW</td>
<td>$609,750</td>
<td>8.2%</td>
<td>8.9%</td>
</tr>
<tr height="17">
<td height="17">LANGWARRIN*</td>
<td>$310,000</td>
<td>1.6%</td>
<td>-4.6%</td>
</tr>
<tr height="17">
<td height="17">MACLEOD*</td>
<td>$437,500</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">MAIDSTONE*</td>
<td>$503,500</td>
<td>8.9%</td>
<td>20.6%</td>
</tr>
<tr height="17">
<td height="17">MALVERN EAST*</td>
<td>$655,000</td>
<td>6.0%</td>
<td>74.7%</td>
</tr>
<tr height="17">
<td height="17">MALVERN*</td>
<td>$678,500</td>
<td>30.4%</td>
<td>37.1%</td>
</tr>
<tr height="17">
<td height="17">MARIBYRNONG*</td>
<td>$460,000</td>
<td>3.7%</td>
<td>6.7%</td>
</tr>
<tr height="17">
<td height="17">MELBOURNE</td>
<td>$420,000</td>
<td>-3.0%</td>
<td>-7.7%</td>
</tr>
<tr height="17">
<td height="17">MENTONE</td>
<td>$480,000</td>
<td>3.2%</td>
<td>2.2%</td>
</tr>
<tr height="17">
<td height="17">MILL PARK*</td>
<td>$312,500</td>
<td></td>
<td>-12.0%</td>
</tr>
<tr height="17">
<td height="17">MITCHAM*</td>
<td>$461,000</td>
<td>1.3%</td>
<td>-8.6%</td>
</tr>
<tr height="17">
<td height="17">MONTMORENCY*</td>
<td>$429,000</td>
<td></td>
<td>-15.5%</td>
</tr>
<tr height="17">
<td height="17">MOONEE PONDS*</td>
<td>$439,000</td>
<td>-2.6%</td>
<td>-19.4%</td>
</tr>
<tr height="17">
<td height="17">MOORABBIN*</td>
<td>$492,500</td>
<td>11.4%</td>
<td>2.0%</td>
</tr>
<tr height="17">
<td height="17">MORDIALLOC*</td>
<td>$470,500</td>
<td>-0.9%</td>
<td>4.6%</td>
</tr>
<tr height="17">
<td height="17">MORNINGTON</td>
<td>$387,500</td>
<td>-15.3%</td>
<td>-2.3%</td>
</tr>
<tr height="17">
<td height="17">MOUNT ELIZA*</td>
<td>$392,500</td>
<td>23.1%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">MOUNT MARTHA*</td>
<td>$410,500</td>
<td></td>
<td>-16.2%</td>
</tr>
<tr height="17">
<td height="17">MOUNT WAVERLEY</td>
<td>$558,750</td>
<td>-6.0%</td>
<td>-12.8%</td>
</tr>
<tr height="17">
<td height="17">MULGRAVE*</td>
<td>$402,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">MURRUMBEENA*</td>
<td>$570,000</td>
<td>9.6%</td>
<td>4.9%</td>
</tr>
<tr height="17">
<td height="17">NEWPORT*</td>
<td>$514,000</td>
<td>-7.5%</td>
<td>-10.0%</td>
</tr>
<tr height="17">
<td height="17">NIDDRIE*</td>
<td>$685,000</td>
<td>34.3%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">NOBLE PARK</td>
<td>$284,950</td>
<td>-3.8%</td>
<td>-7.3%</td>
</tr>
<tr height="17">
<td height="17">NORTH MELBOURNE</td>
<td>$485,500</td>
<td>-1.9%</td>
<td>9.3%</td>
</tr>
<tr height="17">
<td height="17">NORTHCOTE*</td>
<td>$515,000</td>
<td>4.1%</td>
<td>-8.8%</td>
</tr>
<tr height="17">
<td height="17">OAK PARK*</td>
<td>$425,000</td>
<td></td>
<td>-5.3%</td>
</tr>
<tr height="17">
<td height="17">OAKLEIGH EAST*</td>
<td>$521,559</td>
<td></td>
<td>-5.0%</td>
</tr>
<tr height="17">
<td height="17">OAKLEIGH SOUTH*</td>
<td>$460,000</td>
<td>0.7%</td>
<td></td>
</tr>
<tr height="17">
<td height="17">OAKLEIGH*</td>
<td>$399,950</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">ORMOND*</td>
<td>$500,000</td>
<td>-1.8%</td>
<td>-13.9%</td>
</tr>
<tr height="17">
<td height="17">PARKDALE*</td>
<td>$485,000</td>
<td>6.6%</td>
<td>4.5%</td>
</tr>
<tr height="17">
<td height="17">PASCOE VALE</td>
<td>$426,000</td>
<td>-2.1%</td>
<td>3.2%</td>
</tr>
<tr height="17">
<td height="17">POINT COOK*</td>
<td>$361,500</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">PORT MELBOURNE</td>
<td>$690,000</td>
<td>3.0%</td>
<td>-2.4%</td>
</tr>
<tr height="17">
<td height="17">PRAHRAN</td>
<td>$445,000</td>
<td>0.2%</td>
<td>-18.2%</td>
</tr>
<tr height="17">
<td height="17">PRESTON*</td>
<td>$380,000</td>
<td>-5.0%</td>
<td>-11.6%</td>
</tr>
<tr height="17">
<td height="17">RESERVOIR</td>
<td>$365,500</td>
<td>1.5%</td>
<td>-6.5%</td>
</tr>
<tr height="17">
<td height="17">RICHMOND</td>
<td>$493,500</td>
<td>-16.7%</td>
<td>0.3%</td>
</tr>
<tr height="17">
<td height="17">RINGWOOD</td>
<td>$385,500</td>
<td>5.6%</td>
<td>-6.4%</td>
</tr>
<tr height="17">
<td height="17">RINGWOOD EAST*</td>
<td>$385,000</td>
<td>2.4%</td>
<td>-1.3%</td>
</tr>
<tr height="17">
<td height="17">ROSANNA*</td>
<td>$466,500</td>
<td></td>
<td>-11.1%</td>
</tr>
<tr height="17">
<td height="17">ROSEBUD*</td>
<td>$308,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">ROWVILLE*</td>
<td>$420,100</td>
<td>-10.2%</td>
<td>3.7%</td>
</tr>
<tr height="17">
<td height="17">SANDRINGHAM*</td>
<td>$610,000</td>
<td>8.0%</td>
<td>-15.3%</td>
</tr>
<tr height="17">
<td height="17">SEAFORD*</td>
<td>$320,000</td>
<td>-1.5%</td>
<td>-11.7%</td>
</tr>
<tr height="17">
<td height="17">SOUTH MELBOURNE*</td>
<td>$555,250</td>
<td>-23.9%</td>
<td>-2.6%</td>
</tr>
<tr height="17">
<td height="17">SOUTH YARRA</td>
<td>$565,000</td>
<td>2.7%</td>
<td>1.8%</td>
</tr>
<tr height="17">
<td height="17">SOUTHBANK</td>
<td>$540,000</td>
<td>4.9%</td>
<td>-0.5%</td>
</tr>
<tr height="17">
<td height="17">ST ALBANS*</td>
<td>$275,000</td>
<td>-15.8%</td>
<td>-8.9%</td>
</tr>
<tr height="17">
<td height="17">ST KILDA</td>
<td>$476,000</td>
<td>1.9%</td>
<td>-0.8%</td>
</tr>
<tr height="17">
<td height="17">ST KILDA EAST</td>
<td>$452,000</td>
<td>-3.4%</td>
<td>-5.6%</td>
</tr>
<tr height="17">
<td height="17">ST KILDA WEST*</td>
<td>$440,000</td>
<td>1.1%</td>
<td>-10.4%</td>
</tr>
<tr height="17">
<td height="17">SUNBURY*</td>
<td>$277,500</td>
<td></td>
<td>-14.9%</td>
</tr>
<tr height="17">
<td height="17">SUNSHINE*</td>
<td>$263,000</td>
<td>-6.1%</td>
<td>-2.6%</td>
</tr>
<tr height="17">
<td height="17">SURREY HILLS*</td>
<td>$635,000</td>
<td>9.7%</td>
<td>0.2%</td>
</tr>
<tr height="17">
<td height="17">SYDENHAM*</td>
<td>$320,000</td>
<td>-5.0%</td>
<td>-4.9%</td>
</tr>
<tr height="17">
<td height="17">TEMPLESTOWE LOWER*</td>
<td>$604,500</td>
<td>12.9%</td>
<td>-0.1%</td>
</tr>
<tr height="17">
<td height="17">TEMPLESTOWE*</td>
<td>$570,000</td>
<td></td>
<td></td>
</tr>
<tr height="17">
<td height="17">THORNBURY*</td>
<td>$432,000</td>
<td>13.2%</td>
<td>7.1%</td>
</tr>
<tr height="17">
<td height="17">TOORAK</td>
<td>$652,750</td>
<td>-2.6%</td>
<td>-7.1%</td>
</tr>
<tr height="17">
<td height="17">TULLAMARINE*</td>
<td>$292,500</td>
<td>-14.1%</td>
<td>-19.9%</td>
</tr>
<tr height="17">
<td height="17">WERRIBEE*</td>
<td>$250,000</td>
<td>-1.0%</td>
<td>-10.1%</td>
</tr>
<tr height="17">
<td height="17">WEST FOOTSCRAY*</td>
<td>$354,000</td>
<td>-15.7%</td>
<td>1.1%</td>
</tr>
<tr height="17">
<td height="17">WEST MELBOURNE*</td>
<td>$598,250</td>
<td>-6.5%</td>
<td>24.4%</td>
</tr>
<tr height="17">
<td height="17">WILLIAMSTOWN*</td>
<td>$445,000</td>
<td>5.1%</td>
<td>-32.4%</td>
</tr>
<tr height="17">
<td height="17">WINDSOR*</td>
<td>$400,000</td>
<td>-19.4%</td>
<td>-29.8%</td>
</tr>
<tr height="17">
<td height="17">YARRAVILLE*</td>
<td>$530,000</td>
<td>1.0%</td>
<td>12.1%</td>
</tr>
</tbody>
</table>
Source: Real Estate Institute of Victoria
*Indicates that fewer than 30 sales were recorded during the quarter
For more property research and latest sales, visit the <a target="_blank" href="https://www.reiv.com.au/">REIV website.</a>
 
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cknowlton-QnEa6ntUYP

Melbourne unit prices – how your suburb went in the 2012 March quarter: REIV

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Melbourne property prices remained flat over the March quarter, according to the Real Estate Institute of Victoria.
The median house price in metropolitan Melbourne was $535,000, representing a minor 0.9% increase over the year and the same rise from the revised $530,000 December quarter median.
REIV chief executive Enzo Raimondo says demand for residential property over the past year reflected the broader state of the economy and forecast that buyers will continue to find prices maintaining current levels in the short term.
“The property market moves in cycles and now we are in one of stability, with overall median house prices showing no real growth.
“The median house price has increased $5000 since March 2011, confirming a very stable market in relation to prices.”
The unit market fell 1.1% to $445,000 from $450,000 in the December quarter and fell by a larger 4.2% decline over the year.
The fluctuations follow a five-year period during which the median house price increased by 43% and 39% for units.
“Until the economy and confidence improve, the market is likely to remain as it is now,” Raimondo says.
Kew edged out Brighton and Camberwell to be the most expensive suburb to buy a house.
Suburbs like Ringwood, Coburg and Footscray, in the middle of the market pricing, recorded much of the strongest growth.
 
 
 
 
 
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jchancellor-FAypfDUnLy

Melbourne property prices flat in March quarter: REIV

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Only Darwin and Hobart went against the national trend of static or falling rents over the March quarter according to the latest APM rental report.
The report found rents remained stable or fell during the March quarter in most capital cities, giving temporary relief to renters.
But senior economist at APM Dr Andrew Wilson says flat or falling rental growth for both units and houses in most capital cities has not resulted in falling gross rental yields.
The median weekly asking rent for houses in Australia was $409 for the March quarter, while median asking rent for units declined 1.1% to $401 over the same period.
Darwin had the greatest quarterly and yearly rent increase for houses but was the only capital where yields went down for houses. House rents rose 3.6% over the quarter and 11.8% over the year to $570 a week. House yields went up 9.6% over the year to 4.94%. Unit rents are down 2.1% over the quarter but up 2.2% over the year, while unit yields went up 11.2% over the year to 5.58%.
Hobart house rents increased, but the Tasmanian capital had the greatest yearly fall for unit rents. It was the only capital where unit yields went down over the year. It had the greatest yearly fall in yields for houses. House rents rose 3.1% over the quarter to $330 a week, up 1.5% over the year. House yields are down 1.4% over the year to 5.23%. Unit rents are unchanged over the quarter and down 3.7% over the year. Unit yields are down 1.3% for the year to 5.13%.
<img src="/images/stories/apmapril13.gif">
Sydney had the greatest quarterly fall for unit rents over the quarter. House rents remain unchanged over the quarter at $500 a week, up 2% over the year. House yields are up 5.8% for the year to 4.71%. Unit rents are down 2.2% over the quarter to $450 a week and unchanged over the year. Unit yields are up 3.7% over the year to 5.18%.
<img src="/images/stories/apmapril134.gif">
Melbourne had the greatest yearly fall for house rents. It had the greatest yearly increase in yields for houses. House rents remain unchanged over the quarter at $360 a week, down 1.4% over the year. House yields are up 11% over the year to 4.12%. Unit rents are unchanged over the quarter and over the year at $350 a week. Unit yields are up 4.6% over the year to 4.63%.
Brisbane had the greatest yearly increase for units. House rents are unchanged over the quarter at $380 a week, up 2.7% over the year. House yields are up 7.7% over the year to 5.08%. Unit rents are unchanged over the quarter at $365 a week up 4.3% over the year. Unit yields are up 6.6% over the year to 5.29%.
<img src="/images/stories/apmapril132.gif">
In Adelaide house rents are down 0.6% over the quarter and over the year at $338 a week. Yields for houses went up 6% over the year to 4.69%. Unit rents are unchanged over the quarter and over the year at $280 a week. Unit yields are up 4.2% over the year to 4.98%.
Perth had the greatest yearly increase in yields for units. House rents are unchanged over the quarter at $400 a week, up 3.9% over the year. House yields went up 10.8% over the year to 4.92%. Unit rents are unchanged over the quarter at $350 a week, up 2.9% over the year. Unit yields increased 16.6% over the quarter to 5.5%.
over the year to 5.29%.
 
<img src="/images/stories/apmapril133.gif">
In Canberra hose rents are down 2% over the quarter at $490 a week, up 2.1% over the year. House yields increased 3.9% over the year to 4.97%. Unit rents are down 1.1% over the quarter to $435 a week up 1.2% over the year. Unit yields are up 3.7% over the year to 5.65%.
Wilson says increased buyer activity over the March quarter has taken some pressure off rental markets, but the reprieve won’t last long.
“Improved housing affordability with the bottoming of the price cycle, falling interest rates and an improved economic outlook has facilitated increased buyer activity in most capital cities particularly from first homeowners,” says Wilson.
“This has taken some demand pressure off rental markets with flat rental growth recorded over the March quarter as a consequence.
“However with ongoing shortages of accommodation, low levels of new supply and continued inactivity by investors, upward pressure on rentals can be expected to resume in most centres over 2012.”
He says this is particularly evident in Sydney where ABS figures show a 60% state-wide surge in first homebuyer loans over the last quarter of 2011 which has reduced demand for rental properties, particularly units.
“Units continue to provide higher gross rental returns compared to houses in all the mainland capitals,” says Wilson.
“Gross investment yield growth should track sideways from mid-2012 as prices and rental increases emerge concurrently.”
He says Melbourne continues to be most tenant-friendly capital.
Photograph courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>.
 
 
 
 
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awalsh-7Ub9EypybQ

Rents stable or falling in all capitals bar Darwin and Hobart in March quarter: APM

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House prices are expected to bottom out later in the year and then starting rising modestly from 2013 led by Western Australia, the latest NAB quarterly residential property market survey has forecast.
National house prices fell 1.3% in the first three months of the year, following a fall of 2% in the 2011 December quarter and a 2.4% decline in the September 2011 quarter, according to the survey of about 300 property market participants, including real estate agents and property developers. 
Those surveyed are forecasting a further 0.2% decline over the next 12 months and then 1.6% growth in 2013 and 2014. 
Western Australia is the “standout for price growth” over the next 12 months, with a 1.3% rise expected. NAB is most pessimistic about Victoria, with house prices forecast to fall 1.5% over the same period.
NSW house prices are expected to remain flat with growth of just 0.4%, and small declines are forecast for SA/NT (-0.6%) and Queensland (-0.2%).
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/nabapril13.gif"><img src="/images/stories/nabapril13thumb.gif"></a>
Over the March quarter stronger outcomes were recorded in all states bar NSW, where house prices fell by 0.4% following a 0.3% decline in the December 2011 quarter. 
Despite the drop, NSW was the second best performing market over the March quarter after WA, where prices fell 0.1% following a 1.4% decline in the previous quarter. 
Prices were significantly weaker in Queensland (-2.4%), SA/NT (-1.9%) and Victoria (-1.8%). 
The national rental market showed little growth over the quarter, with house rents rising 1.1%. It is expected to pick up by 2.9% over the next year and 4.3% over next two years.
There was a wide divergence in rental market performance, with a notable softening in rental markets in SA/NT and a “big turnaround in the rental story in Victoria”.
“With slower population growth and higher construction rates contributing to rising residential vacancy rates in metropolitan Melbourne, Victorian rents fell -0.2% in the first quarter of 2012, compared with a 0.4% increase in the previous quarter. In contrast, rental growth was strongest in WA (2.6%) and NSW (2.2%),” says the report.
National rental growth expectations over the next year softened to 2.9% from a forecast of 3.2%, with growth of 4.3% forecast (previously 4.6%) over next two years. NAB expects rental returns to continue to be strongest in NSW and WA.
While the outlook for rents in WA (4.5%) and Queensland (2.4%) was broadly unchanged, expectations softened in SA/NT (2.6% from 3.7% previously), Victoria (1.5% from 1.8% previously) and in NSW (3.8% from 4.5% previously). 
Expectations softened in all states bar Victoria (2.9% from 2.8% previously), but it remains the weakest state for rental growth overall. Rental expectations over the next two years remain strongest in WA (5.7%), NSW (5.2%) and SA/NT (5%).
Click to enlarge
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Positive rents and falling home values will continue to support rental yield growth, says NAB. 
The other key findings of the report were:
<ul>
<li>First-home buyers and resident investors less active in the market for new property, but overseas buyer activity increases. Demand for new property still strongest for inner-city houses and low-rise apartments/townhouses. </li>
</ul>
<ul>
<li>Tight credit conditions and housing affordability cited as the most “significant” constraints on new housing development. Lack of development sites and construction costs becoming problematic, especially in WA. </li>
</ul>
<ul>
<li>Overall demand for existing property improved slightly. Houses still the most preferred type of property, especially in the inner city. Low- and high-rise middle-ring apartments/townhouses are the least preferred option for existing property buyers. </li>
</ul>
<ul>
<li>Capital growth expectations remain strongest for existing property in the sub-$500,000 price range. Outlook for premium property remains “poor”. </li>
</ul>
<ul>
<li>Access to credit still viewed as the biggest impediment to purchasing existing property but the level of concern is being slowly pared back. Employment security has emerged as the next biggest concern, with Victoria the most pessimistic state.</li>
</ul>
 
 
 
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lschlesinger-FZcF9M3vE6

House prices to bottom out in 2012 and start rising from 2013: NAB

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Now that we’re a quarter of the way through the year and our property markets have had a chance to show their hand, it’s probably a good time to do a whip around Australia and see how property is performing.

<a target="_blank" href="https://www.rpdata.com/">RP Data</a> has reported their March quarter house price index results and the findings were encouraging.
Once again, the latest stats will disappoint the doomsayers who frequent the property forums and for the last four years have been predicting an apocalypse.
What the stats show
Overall Australian dwelling values were unchanged across the eight capital cities over the first three months of this year. In fact, RP Data-Rismark’s hedonic index data suggests that Australian dwelling values have not budged at all since the end of October 2011.
The tide is turning
Of course, there is not one property market in Australia, so while the market is flat in general there are markets within markets, each pulled by a multitude of influences and, as a result, sectors within sectors are performing at differing speeds.
<table style="width: 432px;" border="1" cellpadding="0" cellspacing="0"><tbody>
<tr>
<td valign="top" width="140">
City
</td>
<td colspan="2" valign="top" width="293">
Index results as at March 31, 2012
</td>
</tr>
<tr>
<td valign="top" width="140">
 
</td>
<td valign="top" width="151">
Median dwelling price 
</td>
<td valign="top" width="142">
Change in dwelling values March 2012 qtr
</td>
</tr>
<tr>
<td valign="top" width="140">
Sydney
</td>
<td valign="top" width="151">
$525,000
</td>
<td valign="top" width="142">
1.1%
</td>
</tr>
<tr>
<td valign="top" width="140">
Melbourne
</td>
<td valign="top" width="151">
$465,000
</td>
<td valign="top" width="142">
-0.8%
</td>
</tr>
<tr>
<td valign="top" width="140">
Brisbane
</td>
<td valign="top" width="151">
$400,000
</td>
<td valign="top" width="142">
-0.4%
</td>
</tr>
<tr>
<td valign="top" width="140">
Adelaide
</td>
<td valign="top" width="151">
$370,000
</td>
<td valign="top" width="142">
-1.5%
</td>
</tr>
<tr>
<td valign="top" width="140">
Perth
</td>
<td valign="top" width="151">
$445,000
</td>
<td valign="top" width="142">
-0.7%
</td>
</tr>
<tr>
<td valign="top" width="140">
Hobart
</td>
<td valign="top" width="151">
$340,000
</td>
<td valign="top" width="142">
7.3%
</td>
</tr>
<tr>
<td valign="top" width="140">
Darwin
</td>
<td valign="top" width="151">
$470,000
</td>
<td valign="top" width="142">
3.9%
</td>
</tr>
<tr>
<td valign="top" width="140">
Canberra
</td>
<td valign="top" width="151">
$529,975
</td>
<td valign="top" width="142">
0.0%
</td>
</tr>
<tr>
<td valign="top" width="140">
Capital city aggregate
</td>
<td valign="top" width="151">
$445,000
</td>
<td valign="top" width="142">
0.0%
</td>
</tr>
</tbody></table>
Source: RP Data
Clearly our property markets have slumped over the last 12 months, as the following table shows, but the latest results suggest we are now in the consolidation phase of the property cycle.
Click to enlarge
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Apartments outperformed houses
Units outperformed houses in Australia’s major capital cities by a wide margin during March. Capital city apartment prices increased by 0.9% during the month to a median of $400,000, while detached house prices increased by just 0.1% to a median of $464,500.
Let’s now look at some of our major property markets in a little more detail.
Sydney 
Sydney has been outperforming the rest of Australia, but the top end of the market is still suffering from an oversupply of property relative to the reduced demand.  However, affordable gentrified suburbs within close proximity to the city, transport, amenities and infrastructure are performing well. 
In particular, well located apartments in the inner western suburbs and Sydney’s eastern suburbs are being snapped up by investors and owner-occupiers at hotly contested auctions according to George Raptis, director of <a href="https://www.sydneybuyersagent.com.au/" target="_blank">Metropole Property Strategists in Sydney</a>. 
“I’d like some of the property doomsayers to come to one of these auctions and see how many genuine bidders are in the market for the small selection of good properties for sale,” says Raptis. 
“The market for well-located apartments is likely to remain strong throughout the year. Strong rental demand, a shortage of rental properties, tightening vacancies and rising rents means investors will vie for the same apartments as owner-occupiers, underpinning prices.” 
Melbourne 
Different segments of the Melbourne housing market are at different stages of the property cycle. 
There is still an oversupply of property at the top end relative to the reduced demand for luxury property. While there is more competition for properties in the middle end of the market, there is still an oversupply of properties relative to demand, even though recent auction clearance rates have been encouraging. 
Currently there are some good investment opportunities buying established apartments in Melbourne’s southern or eastern suburbs and adding value through renovations. 
But there are some segments of the Melbourne property market to avoid. 
According to Charles Marvelli, head of the <a href="https://www.melbournebuyersagent.com.au/">Melbourne buyer’s agency</a> division of Metropole Property Strategists, “Builders and developers have got ahead of themselves, and there is an oversupply of newly built house-and-land packages in Melbourne’s outer western suburbs such as Point Cook and Melton. Currently there is a flood of new properties, but buyers are showing a preference for two- to three-year-old homes which can be bought considerably cheaper than new stock.” 
“There is also an oversupply of inner-city CBD apartments, with more being completed in the next few years at a time when there is less demand from the tenant demographic that rents in the CBD,” adds Marvelli. 
“This will put downward pressure on prices and rentals. I expect there will be an oversupply of inner-CBD and near-CBD apartments in Melbourne for a few years, causing prices to fall slightly” he says. 
Brisbane
 
House prices in Brisbane have dropped for the last two years and are now 11% below their peak, but there are tentative signs of improvement in this market. 
However, Brisbane buyers are lacking the necessary confidence to re-enter the market, instead sitting on the sidelines waiting for signs that real estate has bottomed before they make a purchase. 
Vacancy rates have fallen to 2.2% in December 2011 from 3.7% 15 months earlier, suggesting that the market is working through an overhang in supply, and there is evidence that investors as well as owner-occupiers are slowly returning to the market. 
The prestige end of the Brisbane housing market is suffering, but more affordable homes within five to 10km of the CBD are likely to perform well when the upswing eventually takes place. 
One area of opportunity is the established apartment market around Auchenflower and Toowong, where you can find 1970s and 1980s apartments with good size rooms, close to amenities and within a brisk stroll to the CBD. 
Increasing confidence with a new state government and an upswing in economic conditions, along with improved affordability, suggest that prices should stabilize over the next six months before starting to edge upwards. 
However, there are a large number of off-the-plan apartments available in the Brisbane CBD and surrounding suburbs. Many of these remain unsold, and this oversupply of properties will put downward pressure on prices and rentals in these suburbs. 
Many of the apartments that have been sold off the plan are coming on stream in the next few years and have been purchased by investors. Some will have difficulty getting finance and settling their purchase. Others will be disappointed to see the end value of their properties is less than the original purchase price. 
Adelaide
 
The Adelaide property market has been flat for some time now. Prices fell a further 1.5% over the last three months and are likely to correct a little more before the market bottoms. 
<a href="https://www.anz.com.au/" target="_blank">ANZ Bank</a> reports that, “While the SA housing market should remain subdued through the first half of 2012, the economic benefits from a number of large non-residential building redevelopments in Adelaide (Royal Adelaide Hospital, Adelaide Convention Centre and Adelaide Oval) and a positive outlook for regions benefitting from major mining and energy projects (including the proposed Clinton and Arckaringa Basin coal-to-liquid gas project and Olympic Dam) should drive an improved outlook into 2013. We expect rental vacancies will grind lower through 2012 and 2013, while house prices should trough around mid-2012.” 
Perth
 
While the WA economy continues to benefit from our resources boom, the Perth property market is still suffering a hangover from its pre-GFC boom. 
In the three years leading up to the 2008 peak in house prices, WA house prices increased 20% per annum on average, compared to a national average of 6% per annum. Since then, investors and homeowners have deserted the Perth residential property market, prices have fallen and are currently 8.2% below their March 2008 peak. 
However, there are signs of optimism creeping back and some areas of the Perth market are likely to turn around later this year or in 2013. 
What next?
We’re entering the stabilization phase of the property cycle, where buyers are returning and slowly taking up available stock, but not really pushing up prices yet.
This means our property markets are likely to remain soft this year, but should keep consolidating.
One encouraging sign is that first time buyers are back, applying for loans at levels not seen for two years. Remember, first time buyers are typically a good barometer for changes in affordability.
How soon things turn around will depend a lot on buyer confidence, and this will depend upon what’s happening overseas, how our local government performs and what happens with interest rates.
Does this mean you should put your money under the mattress or buy gold bullion rather than invest in property?
You already know what I’m going to say, don’t you? 
Property is more than just an investment – it is a fundamental human requirement. Everyone needs a roof over their head, whether they rent or own their own home. As a basic necessity, housing will always be in demand – it will always have value because we simply can’t live without it.
The long-term future is assured for those who invest in property.
At some stages in the economic cycle property values will rise strongly and at other times they will languish. When people can’t afford to buy property (when price growth slows because of decreased demand), people end up renting, so investors win by getting better returns. And that is currently happening as rents rise strongly.
Of course, this also means that buying any property and hoping it will make a good investment just won't work at this stage of the cycle.
You need to buy the right type of property. One that has a level of scarcity – meaning it will be in continuous strong demand by owner occupiers (to keep pushing up its value) and tenants (to help subsidise your mortgage); in the right location (one that has outperformed the long-term averages), at the right time in the property cycle (that would be now in many states) and for the right price.
Then hold it as a long-term investment and reap the rewards.
Michael Yardney is the director of <a href="https://www.metropole.com.au/">Metropole Property Investment Strategists</a> , a best-selling author and one of Australia's leading experts in wealth creation through property. He also writes the <a href="https://www.propertyupdate.com.au/">Property Investment Update</a> blog.
 
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myardney-DFoGhGbSJX

Tide is turning for Australia's property markets

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The Eiger Chalet at Perisher in the NSW ski fields has been listed for sale.
<img src="/images/stories/eiger.jpg">
It’s the first time the ski lodge, along with its White Spider restaurant in Perisher, will have been sold since its construction by its original owners and builders. They have put the accommodation and restaurant up for April 19 auction through Ray White Hotels Australia.
White Hotels Australia director Andrew Jolliffe says the premises was once the number one place to stay in the Australian Alps. "The business leasehold will be sold on a walk-in walk-out basis, comprising an impressive inventory of restaurant, accommodation and over-snow equipment," Jolliffe says.
<img src="/images/stories/eiger2.jpg">
Established in 1961, Eiger Chalet sits 100 metres from the Perisher chairlifts and 250 metres from the Perisher ski tube terminal.  Named after the famous ski resorts in Switzerland, Eiger is co-owned by a consortium of investors including the Fischer family.
It's a 66-bed public lodge with a 100-seat restaurant. The property's lease with the National Parks and Wildlife Service runs until 2025, with the potential of a 30-year extension to 2055. It was briefly listed for sale back in 1989.
<img src="/images/stories/eiger3.jpg">
It’s now listed by Jolliffe in conjunction with Ray White Snowy Mountains Region agent Richard Pembroke. Given the recent sale of the nearby 70-bedroom St Moritz for $3.2 million, more than $2.5 million is tipped for the 2,000-square-metre leasehold offering.
 
 
 
 
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Eiger Chalet at Perisher set for auction after 51 years' ownership

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Nine properties on RP Data's list of the top 10 sales of the week last week were in NSW, with the 10th in Canberra’s long-established Forrest.
The ACT property, priced at $1,950,000, came in midway through the list at number five.
1. 1403/81 Macleay Street, Potts Point, NSW, 2011 three-bedroom unit, sold on April 5 for $2,950,000 by Richardson &amp; Wrench Elizabeth Bay/Potts Point. 
2. 12 Toocooya Road, Hunters Hill, NSW, 2110 four-bedroom home, sold on April 3 for $2,700,000 by McGrath Estate Agents. 
3. 246 Glenmore Road, Paddington, NSW, 2021 three-bedroom home, sold at auction on April 3 for $2,500,000 by Di Jones Real Estate. 
4.  48 Cook Road, Centennial Park, NSW, 2021 four-bedroom home, sold on April 3 for $2,125,000 by Di Jones Real Estate. 
5. 86 Arthur Circuit, Forrest, ACT, 2603 six-bedroom home, sold on April 3 for $1,950,000 by Peter Blackshaw Real Estate. 
6. 9 Leura Road, Double Bay, NSW, 2028 two-bedroom home, sold prior to auction for $1,900,000 by BHR Group. 
7. 3/3 Bradley Avenue, Bellevue Hill, NSW, 2023 three-bedroom unit, sold on April 3 for $1,525,000 by Bradfield &amp; Prichard Double Bay. 
8. 68 St James Road, Bondi Junction, NSW, 2022 three-bedroom home, sold at auction on April 4 for $1,460,000 by Ray White Unlimited. 
9. 42 Connelly Way, Kellyville, NSW, 2155 six-bedroom home, sold on April 3 for $1,390,000 by McGrath Estate Agents.
10. 123a Eastern Road, Tarramurra, NSW, 2074 four-bedroom home, sold on April 4 for $1,353,000 by Belle Property.
 
 
 
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Top 10 sales of the week: RP Data

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Like baking a soufflé, successful property investing requires three important elements: a well-proven recipe, good ingredients and technique. 
Successful property investors know only too well that shortcuts or lack of research are sure to cause financial distress. They also know that given the level of expertise and knowledge required to make the right decision it is essential that they have the best professionals on their team.
Well-proven recipe
Many property investors purchase with their heart. They buy in suburbs that they think they know with little regard for what tenants actually want. 
Successful property investing starts with purchasing the right property. A good capital growth property will pay for itself within 10 years. For those who like numbers, a property growing at a compound rate of 7% per year over a cycle will double in value in about 10 years. A poorer-performing capital growth of 5% will double in just less than 14.5 years while a superior 10% growth property will double in just over seven years. 
As an example, a $500,000 investment after 10 years will potentially grow in value to $814,447 (5% growth), $983,576 (7% growth) and $1,296,871 (10% growth). 
Good ingredients
Now that you have a good recipe, you should choose good ingredients. This involves identifying the correct name in which to purchase the property and ensuring cashflows are maximised by obtaining a depreciation schedule and scrapping schedule if embarking on a renovation. 
For many investors a trust could be a good vehicle to hold and grow wealth. The use of superannuation as a structure should also be considered, as this could mean you will pay no taxation on the investment property and potentially fund it without any additional cash resources. 
Understand the various land tax rules and finance options, as these can significantly sweeten the result. Like all good businesses you must not only grow your assets but protect them. Even if you already have property assets in your name, you can successfully protect them without moving to a trust and incurring CGT and stamp duty. 
Chan &amp; Naylor refer to the secret ingredient as a buffer. A buffer is accessible funds that can be used in emergencies including increased interest expenses, major repairs, a lost tenant, etc. 
A buffer should be measured in time and outline the span you need to make a safer investment. For example, if you say five years for a property that costs $10,000 per year to hold, then you need $50,000 in your buffer. If you choose to sell, a buffer means you do not have to accept the first offer and accommodates for highs and lows in the market. 
Technique
Property investment has a habit of throwing up the unknown, so you need to be prepared. To maximise your chance of a superior property you should take control of the outcome by manufacturing capital growth and not rely solely on market movements. 
Renovations will help turbo-boost your market value and also improve your rental yield, especially if completed soon after purchase. 
Preparation time
It is important that you choose a superior property for successful investment so don’t rush. To be sure, research varying properties in a range of areas and use all available resources including seeking assistance from a professional. 
And you have your soufflé! The main difference between following this property soufflé recipe and a Margaret Fulton recipe is that your property investing will not collapse when the unexpected happens. If you follow the three basic considerations, a lower return than expected is the worst you can expect, however with your buffer you can afford the time to see your property investment succeed. 
Bon appetit!
Ken Raiss is a certified accountant and director of <a title="Chan &amp; Naylor " href="https://www.chan-naylor.com.au/" target="_self">Chan &amp; Naylor</a> national accounting firm. Ken’s experience lies in working with large publically listed multi-national companies, which gives Ken excellent insight into international market trends. Ken specialises in educating “mum and dad” property investors and small business owners with advice on wealth creation, asset protection, taxation, superannuation and compliance. The Chan &amp; Naylor team<a target="_blank" href="https://www.propertyupdate.com.au/2012-events/national-property-and-economic-market-update/"> will be at the upcoming Metropole workshop </a>to go through the above strategies and others in detail to help you successfully manage, grow and protect your property investments.
 
 
 
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Successful property investing is like baking a souffle

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The recent release of the REIV’s calendar year medians for 2011 allows another review of the long-term performance of the residential market.
It is commonly accepted that prices double every seven to 10 years and the REIV’s research shows that, while this does not occur every time, it is a reasonable rule.
The median price of a house in Melbourne was $540,383 in 2011. Since 2001 the median price has increased by $240,383, or 80%, from $300,000. Interestingly, because 2001 was a year of strong appreciation and 2011 was not, this results in a very different outcome from the 10 years to 2010, when prices rose by 120%.
This shows that the timing of the sale and purchase and have a substantial impact on the result.
In the 20 years since 1991, the median house price has increased by $398,383 or 281%. This shows that prices grew more strongly in the latter part of the ‘90s than they did over the last decade.
In the 30 years since 1981, the increase in the median was $484,783 or 872%.
The comparison with 1971, when the median house price was a mere $12,100, does not need a percentage comparison – the substantial change is obvious.
These comparisons confirm that residential property can deliver very solid investment returns over the long term. While many commentators concentrate on the short-, often very short-term changes, the more sensible approach is to take a long-term view.
Enzo Raimondo is CEO of the <a target="_blank" href="https://www.reiv.com.au/">Real Estate Institute of Victoria</a>.
 
 
 
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The value of Victorian houses roughly doubles every 10 years – so take a long-term view

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Have you ever stopped to think for a moment what it’s like for a property manager to evict a tenant, a person from their home?
I fully accept and agree it has to happen at times, especially when the tenant is behind in rent. But have you ever thought for a moment how you might feel or what happens or how it gets to that point?
Sometimes situations arise, and as human beings we sometimes choose not to want to deal with it.  It’s easier just to put our heads in the sand and hope it goes away. But I am afraid it doesn’t go away – it just gets worse!
Recently my office experienced a situation where the tenant who was experiencing a vast array of illnesses was continually failing behind with the rent and always had a different excuse each time as to why she hadn’t paid the rent.
The matter proceeded to court, where an order of possession was granted and the tenant failed to attend the hearing, so the owner was left with no choice but to purchase a warrant to have the tenant evicted.
A day or two before the eviction was due to take place, the tenant applied for a review on the court’s determination.  We attended the hearing – she didn’t.  Again the warrant was reactivated and the 14 days (as it is in Victoria) started all over again.
Then the tenant’s father called and begged for more time.  He wasn’t prepared to pay any of the arrears that his daughter owed, but he thought the owner should let them have more time and not evict his daughter.
All this happened and still no rent was paid.
The execution of the warrant finally took place and upon entering the house there was absolutely no sign at all that the tenant had packed a single thing.
The Salvation Army became involved and they needed numerous times and dates to co-ordinate the removal of the tenant’s goods.  This process took another three weeks.  And yes, it’s always a better result to have all the goods removed rather than proceed down the pathway of storage and auction etc., but at the end of the day – what does the owner receive?  All the rent is still outstanding, nothing has been paid and the tenant has effectively used the property as storage for the past three weeks without paying a cent.
Sometimes the perception of an owner is so misconstrued. For my owner this was his first time as an investor.  He thought he was always fair and reasonable to allow some extra time but in the end – what does he get – nothing but a lot of stress and probably a strong inability to trust again in the future!
The end result for this owner is he will fight the insurance company for the next month or two for a fair and reasonable settlement.   A process, a system and outcome that really is a little unfair!
Leah Calnan is the director of <a target="_blank" title="Metro Property Management homepage" href="https://www.metropm.com.au/">Metro Property Management</a> in Victoria and is the chairwoman of the REIV Property Management Chapter.
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