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]

Joel Robinson

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

A proposal to redevelop one of North Sydney's ageing commercial buildings has taken another step forward, with plans for a 38-storey mixed-use tower adding momentum to the long-awaited transformation of the Alfred Street precinct.

Now on public exhibition through the NSW Government's Housing Delivery Authority-led State Significant Development pathway, the proposal for 271-273 Alfred Street would replace an underutilised commercial building with 95 apartments, ground-floor retail, commercial space and affordable housing. The proposal was submitted by&nbsp;Tara Shore Pty Ltd, acting for the John Taylor Family Trust.

While the project will deliver much-needed housing on the southern edge of the North Sydney CBD, it also represents another piece of a broader precinct that has spent years in planning limbo.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="7e1ce1b4-38df-48ab-992f-386814d86308" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20podium.png?VersionId=sC_h6w.A9VEoB98qsqowPlIoz__sBZBt" />

Despite its proximity to both North Sydney Station and the Victoria Cross Metro, redevelopment of Alfred Street has progressed slowly over the past decade as broader planning controls, zoning and building heights remained unresolved. The introduction of the Housing Delivery Authority pathway has provided a new avenue for projects to progress, allowing rezoning and development assessment to occur concurrently and unlocking sites that have long been earmarked for renewal.

Designed by Office of Cortese &amp; Gilder, the proposal seeks to do more than replace an ageing office building. The architects have positioned the project as the first stage of a wider public domain vision that would improve pedestrian connectivity and create a more cohesive mixed-use precinct as neighbouring sites are redeveloped over time.

The proposal includes a widened Alfred Street setback, new street trees, landscaping and outdoor seating, along with a landscaped through-site pedestrian link connecting Alfred Street with Little Alfred Street. The connection is intended to become the first section of a future east-west pedestrian network extending across the precinct.

<img alt="First look: New public domain vision underpins 95-apartment North Sydney tower on Alfred Street" data-entity-type="file" data-entity-uuid="8ea39ac3-46ad-4562-b4a0-b862e91c2dda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Alfred%20St%20da%20site.png?VersionId=K7umCd21KpetEFuVfsPlnJKhUOsmTTdV" />

The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.

In total, the development would deliver 95 apartments, including nine one-bedroom, 28 two-bedroom, 56 three-bedroom and two four-bedroom residences. Twenty-one apartments, representing 15 per cent of the residential gross floor area, would be secured as affordable housing and managed by a registered community housing provider for at least 15 years.

Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.

According to the Architecture and Urban Design Report, the public domain strategy is designed to transform what is currently an inward-facing commercial edge into a more active and connected pedestrian environment, creating a stronger relationship between the commercial core and surrounding residential neighbourhoods.

Office of Cortese &amp; Gilder has also prepared a broader public domain framework spanning neighbouring properties between 263 and 283 Alfred Street, arguing that a coordinated approach to redevelopment will deliver better public spaces, improved tower separation and a more connected streetscape as the precinct evolves.

The proposal comes at a time where North Sydney is slated for future residential growth. Commercial developer FiveX has residential plans for the neighbouring site at 275 Alfred Street. They've proposed a 39-storey mixed-use tower with 184 apartments, while Freecity was recently approved for nearly 300 apartments across a 51-storey building on Walker Street.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-freecity-gets-green-light-for-mixed-use-apartment-and-hotel-tower-in-north-sydney">First look: Freecity gets green light for mixed-use apartment and hotel tower in North Sydney</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-plans-39-storey-residential-tower-in-booming-north-sydney">First look: Fivex plans 39-storey residential tower in booming North Sydney</a>

&nbsp;

Alfred Street the latest North Sydney pocket to be transformed by residential development

Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

&nbsp;

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

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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When it comes to the question of who pays the mortgage interest, the answer is that New South Wales and Victoria do: well over half of the national interest payable in fact.
<a href="/images/2015/11/25/Interest%20Payable.jpg" target="_blank">Click to enlarge</a>
 <img src="/images/2015/11/25/Interest%20Payable.jpg" alt="">
<div>While this might seem surprising, in fact the share of interest paid by the largest two states has declined over the past two decades.</div>
<div> </div>
<div>The reason for this has been the expansion of both the population and mortgage sizes in Queensland (its share of the mortgage interest pie increasing from 15%to 19%) and Western Australia (its share increasing from 9 to 13%).</div>
<div> </div>
<div>The changes elsewhere have been negligible when viewed from the national level.</div>
<div> </div>
<div>Despite the Australian population having increased by well over 1 million persons (or about 4.7%) over the past three years, total interest payable has declined by nearly 22% thanks to the slashing of interest rates.</div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
</div>
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pwargent-M4siyDbqQY

Who pays the interest? Pete Wargent

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This week marks the second busiest week for auctions across the combined capital cities this year, with 3,649 auctions held over the week, just short of the 3668 held earlier this year, over the last week of March. 
This week the preliminary clearance rate is 60.1%, having increased, albeit only slightly, from a low of 59.5% last week, the first time the clearance rate has dipped below 60 % since Easter 2013. At the same time last year, both auction volumes (3,908) and the clearance rate were higher (63.7%).
<a href="/images/2015/11/30/20151130-Capital-city.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/30/20151130-Capital-city.jpg" alt="">
This week in Melbourne, Australia’s largest auction market, saw the highest volume of auctions so far this year, with 1,828 auctions held across the city, up from 1,510 last week. A preliminary auction clearance rate of 65 % was recorded this week, rising slightly from 64.7 % last week. This time last year, 1,635 properties were taken to auction across Melbourne and a clearance rate of 63 % was recorded. The highest volume of auctions was held across Inner Melbourne this week, with 347 auctions and a preliminary clearance rate of 71 %, the strongest of any other Melbourne sub-region so far this week.
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<img src="/images/2015/11/30/20151130-Melbourne.jpg" alt="" width="705" height="475">
 
Sydney’s preliminary clearance rate this week was 56.3 % across 954 auction results. There were a total of 1,284 auctions held across the city. Last week, Sydney had recorded the lowest clearance rate for the year to date (56.7 %), with 1,116 properties going to auction, however this week has seen the clearance rate fall even further and it will be interesting to monitor this as additional results are reported over the next few days. Looking back at this weekend last year, 1,631 auctions were held across Sydney and a clearance rate of 70.6 % was recorded. Sydney’s North Sydney and Hornsby region hosted the most auctions of any Sydney sub-region this week, with 185 properties taken to auction. The preliminary clearance rate for the region is higher than the wider Sydney result, at 62.8 % across 132 results.
Click to enlarge
 <img src="/images/2015/11/30/20151130-Sydney.jpg" alt="" width="808" height="545">
There were 211 Brisbane auctions this week with half of the 156 results reported as selling. In comparison, last week the final auction clearance rate for the city was 41% across 226 auctions and this weeks 50% clearance rate is also higher than one year ago when there were 294 auctions with a success rate of 37.8%. The Gold Coast’s preliminary clearance rate was 39.2% across 51 results this week.
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<img src="/images/2015/11/30/20151130-Brisbane.jpg" alt="" width="797" height="529">
 
This week, Adelaide saw a preliminary clearance rate of 59.5 %, with 116 reported results across a total of 155 scheduled auctions. In comparison, over the previous week Adelaide’s clearance rate was 64.4 % and 62.3 % one year ago.
Perth’s clearance rate of 34.4 % across 59 auctions is similar to the previous week, when 40 auctions were held and a clearance rate of 31.3 % was recorded.  Over the same week last year, the clearance rate was a lower 28.3 %, and 62 auctions were held.
Canberra’s preliminary auction clearance rate of 58.6 % this week is lower than last week, when the final auction clearance rate was 61.8 % and also lower than the 59.5 % recorded last year.
 
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Second largest auction weekend for the year: CoreLogic RP Data's Shana Miller

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The suburb of Perth is only a tiny part of the vast metropolitan area known as Perth, but its property market is a microcosm for what’s happening more broadly across the WA capital. 
The suburb of Perth, partly CBD and partly residential area, is a sea of negative numbers. Indeed, the numbers are so bad it’s made our Bottom 12 list in The Price Predictor Index – the 12 worst places to buy right now, otherwise known as The Dirty Dozen.
It came to our attention primarily because of the pattern in sales volumes, with quarterly sales of dwellings totalling 149, 136, 127, 93, 99, 86, 84 and 70 in the past eight consecutive quarters, which means sales activity has halved in two years. 
But there are various other negative indicators. Vacancies are high at 6.4%, according to SQM Research. Median prices have fallen 7% in the past 12 months, both for houses and for units, according to Domain. 
The median house price today, $525,000, is at the same level as five years ago. 
Its market situation provides a snapshot of the general trend in the broader city region of the same name. Perth, the metropolitan area, displays many similar qualities: sales activity falling, prices and rents following, vacancies in many areas way too high, especially in the inner-city apartment suburbs. 
Four other WA locations make The Dirty Dozen, all of them resources-impacted centre. All four – Port Hedland, Karratha, Newman and Kambalda – have been bad news for 2-3 years now. The point is that, contrary to the best propaganda efforts of marketers, the worst is not yet over. 
And, if you can believe BIS Shrapnel’s recent assessment of the resources sector and mining towns, it’ll get worse before it gets better. 
Let’s use Port Hedland as a case study. This market, comprising Port Hedland and neighbouring South Hedland, has been in steep decline for the past three years.
Sales rates have declined from peak levels – quarterly sales have dropped from 70-80 per quarter three years ago to around 20-30 per quarter in 2015 - but the greatest measure of the deterioration of this market is in the price and rental data.
Three years ago, Port Hedland had a median house price of $1.3 million; today it is $880,000, lower than five years ago, but still too high to provide value for money. In South Hedland the median price is down to $680,000. 
The median weekly rent has dropped from $2,500 to $900 in Port Hedland and to $650 in South Hedland – and typical yields are now 5.5%, compared to 10-11% when the resources boom was at its peak. No sensible investor would buy at yields so low in a location where the risks are so high.
The decline in rents has followed a significant rise in vacancy rates, with Port Hedland currently 6.5% and South Hedland 7%. 
This market will no doubt recover when commodity prices do, but it's difficult to imagine the median house price reaching $1.3 million again any time soon.
Six of The Dirty Dozen are in Queensland and all are resources-related centres. They include the usual suspects, such as Gladstone, Emerald, Moranbah and the towns of the Surat Basin.
Less often written about is Mount Isa. This is one of Australia’s largest mining towns and a significant regional centre in far western Queensland.
But its property market has dropped alarmingly since early in 2013. In consecutive quarters, the number of dwelling sales has dropped from 189-158-78-63-61-46-41-50-49-42-25.
The suburb of Sunset is typical – sales numbers in consecutive quarters have been 30-23-8-10-12-12-7-6-8-8-8-6. In Pioneer, quarterly sales have been 20-16-12-7-3-8-4-1-2-4-7-1-2. Menzies has recorded just four sales in the past 18 months. 
This remarkable decline coincided with the merger between Glencore and Mount Isa’s biggest employer, Xstrata – followed by downsizing. Vacancies have been rising since early 2013, reaching 6.5%, and have now moderated a little to 4.5%.
Prices have dropped markedly, with median prices down sharply in Mornington (23%) and Townview (18%) in the past 12 months. 
The locations that make up The Dirty Dozen demonstrate the remarkable diversity of situations in property markets across Australia. 
Two capital cities have had strong markets, two have been in serious decline and the other four have shown varying degrees of stagnation or moderate growth. Regional Australia has similar patterns, ranging from boom centres through dormant markets to absolute basket cases.
 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a> 
 
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Terry Ryder's dirty dozen - from Perth to Mount Isa the 12 localities to avoid

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As the Sydney real estate markets start drawing the curtains on what has been a highly entertaining 2015 year it’s interesting to note some are framing 2016 as the recession year. 
However before we start nailing that coffin we need to look at what possibly may cause a recession and then look for what may avert a recession. Naturally there are many that opt for the let’s wait and see option although I’m of the opinion that we won’t see a technical recession.
Yes in some areas property prices are falling and in many other areas property prices are still performing well. Just last week we set (nearly doubled) the all-time record price for a Cammeray waterfront.  This week a developer released Chatswood Place, a $300 million boutique style development, and in just three hours set a new suburb record as well as securing $160 million in off the plan sales. This is the very same investment market which many were believing was well and truly finished.
Last week the Australian Bureau of Statistics (ABS) revealed that business investment spending in the September quarter had fallen 9.2 %. This quarterly result was the worst in the 28 year history of the survey of business investment. The ABS also released the GDP growth which identified growth of 0.9 % thanks to the highest exports in 15 years, an increase in consumer spending and of course the much publicised housing boom more particularly in apartment construction.
We also need to note that Treasury has cut the nation’s potential economic growth rate to 2.75 % down from 3.25 %. This follows three consecutive years of below – trend economic growth where the elephant in the room is the decline in mining.
Now for that beaming light at the end of this tunnel of misery – enter the very cashed – up NSW government. Unlike the vast majority of state and territory governments NSW has an overflow of coin and it’s all going into the biggest infrastructure spend in the state’s history. Over the next four years the NSW government has allocated a staggering $70 billion infrastructure spend which is unprecedented. This in itself will singularly underpin the Sydney housing market given nothing stimulates the markets and consumer confidence like a massive infrastructure spend.
The breakdown is $38 billion to be spent on new transport projects which will also include the second harbour tunnel, North West rail link, South East Light rail, Sydney CBD and WestConnex. The Transgrid lease which brought in a record $10,258 billion is still to be allocated although it has been confirmed that these monies will also be directed into new infrastructure projects.
Following the federal government crackdown on illegal foreign real estate acquisitions in Australia the Significant and Premium Investor Visas have been running at full – speed. It will be very interesting to see the next set of figures and whether there has been a significant spike in applications since the crackdown. The low Australian dollar is also enticing many offshore purchasers and expats and this is now a very strong emerging market within the Sydney real estate markets.
So when one takes the time to actually look at what is going on I find myself (as do many others) not too worried about this so called recession. The last recession was 25 years ago and they aren’t very nice but when you have a state government pouring $70 billion into the NSW economy it would appear that NSW has more Zoom than Gloom. 
To further highlight this the NSW government just appointed Lucy Turnbull (the PM’s wife) as chair of the NSW government’s newly created Greater Sydney Commission. The sole purpose of the Greater Sydney Commission is to stop the infighting at local councils and to speed up developments across the city although I still see councils incompetency as an on – going hurdle.  I’m reliably informed that the premier will hand his greater Sydney Commission special powers and the councils will not like what’s in-store.
Of course not everybody will be convinced but then again, that all adds to the theatre of debate. When the 2016 property markets kick off I’m of the view that the areas within a 15 kilometre radius of the CBD will do very well. But expect more than a few to tell a different tale.
MOSMAN – 2088
• Number of houses on the market this time last year – 103
• Number of houses on the market last week – 65
• Number of houses on the market this week – 55
• Number of apartments on the market this time last year – 66
• Number of apartments on the market last week – 60
• Number of apartments on the market this week – 51
CREMORNE – 2090
• Number of houses on the market this time last year – 13
• Number of houses on the market last week – 15
• Number of houses on the market this week – 11
• Number of apartments on the market this time last year – 25
• Number of apartments on the market last week – 18
• Number of apartments on the market this week – 17
NEUTRAL BAY – 2089
• Number of houses on the market this time last year – 10
• Number of houses on the market last week – 8
• Number of houses on the market this week – 8
• Number of apartments on the market this time last year– 42
• Number of apartments on the market last week – 33
*Number of apartments on the market this week – 30
 
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000. 
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Some framing 2016 as the recession year: Robert Simeon

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Auction volumes fell to 3,209 this week, after last week saw auction activity rise to the highest levels seen all year with 3,729 auctions held across the combined capital cities, bringing spring auction volumes to the highest on record.
 The preliminary auction clearance rate slipped further this week, down to 59.2 per cent, compared to 60.1 per cent over the previous week. Over the same weekend last year, 3,507 homes were taken to auction and a clearance rate of 63.7 per cent was recorded.
<a href="/images/2015/12/7/20151207-capital.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/7/20151207-capital.jpg" alt="" width="696" height="521">
 
In Melbourne, auction volumes remain high with 1,603 auctions held, despite falling from a record high of 1,876 last week. The clearance rate has fallen, with preliminary results showing a 63 per cent success rate, down from 65.9 per cent last week. This time last year, the clearance rate for Melbourne was 66 per cent across 1,733 auctions. The busiest Melbourne sub-regions this week were Melbourne’s Inner region and the Inner South region, where 323 and 264 auctions were held respectively. The best performing regions in terms of clearance rates this week were Mornington Peninsular, with a clearance rate of 69.4 per cent, albeit on a low volume of reported results (36) and North East Melbourne, where the preliminary clearance rate was 68.4 per cent across a total of 152 results.
<a href="/images/2015/12/7/20151207-Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/7/20151207-Melbourne.jpg" alt="" width="821" height="552"> 
Sydney was host to 1,051 auctions this week, down from 1,306 last week, while the preliminary clearance rate has fallen for the tenth consecutive week, to 55.6 per cent, from 56.2 per cent last week.  The latest result signifies the 5th week in a row where Sydney’s clearance rate has been under the 60 per cent mark. One year ago 1,294 Sydney homes were taken to auction over the week, and 66.1 per cent were successful. There were five Sydney sub-regions this week where the preliminary clearance rate was above 60 per cent including Inner West (66.1 per cent), Eastern Suburbs (65.2 per cent), City and Inner South (64 per cent) and Northern Beaches and North Sydney and Hornsby (both 62.5 per cent).
 
<a href="/images/2015/12/7/20151207-Sydney.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/7/20151207-Sydney.jpg" alt="" width="691" height="468">
The preliminary clearance rate in Brisbane this week was 46.6 per cent, down from 47.3 per cent over the previous week. Auction volumes were lower this week with 200 auctions held, compared to 215 last week. Meanwhile, across the Gold Coast, 41.4 per cent of the 29 reported auctions were successful.
<a href="/images/2015/12/7/20151207-Brisbane.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/7/20151207-Brisbane.jpg" alt="" width="806" height="539">
 
A total of 139 Adelaide homes were taken to auction this week, with a preliminary clearance rate of 70.8 per cent across 96 results, the strongest clearance rate of any capital city this week. Last week, Adelaide’s clearance rate was 58 per cent across 158 auctions.
<a href="/images/2015/12/7/20151207-Adelaide.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/7/20151207-Adelaide.jpg" alt="" width="814" height="551">
 
This week was Perth’s busiest of the year, with 80 auctions held this week. Perth’s clearance rate remained steady over the week, at 36 per cent.
Across Canberra a total of 121 auctions were held this week, compared to 98 last week and 87 at the same time last year. Canberra’s preliminary clearance rate of 67.1 per cent is higher than it was the previous week (58.3 per cent).
So far this week, 8 Tasmanian auctions were reported, with just two sales recorded, both prior to their associated auctions.
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First week of summer shows clearance rate slipping further: CoreLogic RP Data's Shana Miller

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<div>The US Federal Reserve is set to lift interest rates for the first time since June 2006.</div>
<div> </div>
<div>The Bureau of Labor Statistics reported that the economy added 211,000 jobs in November, while the October result was revised up from +271,000 to a smashing +298,000, and September also saw a positive revision from +137,000 to +145,000 (for a total of +35,000 revisions).</div>
<div> </div>
<div>After 68 consecutive months of employment gains, the Fed is finally ready to hike interest rates following its December 15-16 meeting.  
</div>
<div><a href="/images/2015/12/7/BLS1.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/12/7/BLS1.jpg" alt=""></div>
<div> </div>
<div>Average hourly earnings have increased by 2.3% over the year, with the economy having gained some 13 million jobs since its nadir.</div>
<div> </div>
<div><a href="/images/2015/12/7/BLs2.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/12/7/BLs2.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>Average monthly employment gains this year have been solid at 210,000, although a bit lower than the 260,000 seen in 2014.</div>
<div> </div>
<div><a href="/images/2015/12/7/BLS3.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/12/7/BLS3.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>The unemployment rate was unchanged at a 7.5 year low of 5%.</div>
<div> </div>
<div><a href="/images/2015/12/7/BLS4.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/12/7/BLS4.jpg" alt=""></div>
<div> </div>
<div> </div>
<div>Fed to hike. It's been a while coming!</div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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Fed set for lift off: Pete Wargent

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Looking into the mainstream-media property reports with respect to rental and vacancy rates; one questions how the data is obtained.
I have from time to time, questioned my brew of coffee but I can do so as I am personally tasting it.
The data about property being provided on the other hand is not as personal to the analysts nor the economists offering their property-charts to the general public.
Most, if not all their data comes from the main "property portals" and are highly reliant on real estate agent's, property manager's (PM) accuracy and detail of what is truly available.
"Trust me I'm a real estate agent, comes to mind..." However, in the case of listing rental-properties, it is prudent not to list all the units in the block: time, resources and the perception to the market are factors to be considered.
The proof is in the pudding
They say the proof is in the pudding. Well, the same may be said for the data and the reports.
The fact is, the data obtained by analysts comes from two main sources, three at best. These sources are; RPData, Domain website and the REA website. Now, how accurate is this data? No where near the truth...
So why is this data flawed? 
Put simply, the data is flawed due to a basic anomaly; real estate agents “property managers” DO NOT place/advertise entire blocks of units on the property portals. At best case, the PM will advertise a mix of units: a one bedroom, a two bedroom and a three bedroom apartment.perhaps even one or two more; if they have a different floor plan.
I have had a recent look at the property portals and across three buildings I know off in Parramatta alone, there are 12 adds which advertise the units available in these blocks. However, across these three high rise blocks, there are approximately 700 apartments.
As a conservative guesstimate, coupled with the conversations I have had with the marketing companies that sold these units; it can be estimated that 80% have been sold to investors.
For now, also consider; how many apartment blocks are being completed and are nearing completion across Sydney? Hmmm a lot, you say? Now add a few more to what you believe. 
You guessed it; a lot available and soon to be available for rent...
You be the judge
For the very reasons I have written about in the past and now; I do not recommend for Investors to buy into the overheated property market of Sydney.
Of late, I have ventured out of Sydney to secure property for our clients. Property with steady rental returns and long term tenancies. More to the point, we have steered away from newly built property with unsustainable rental returns.
The real question
Is there really a shortage of rental property in Sydney? I say NO.
Most definitely not. Now you may dispute this and show me report after report. Again and again I will walk you though what is truly happening on the ground. Take you to, building after building that PM's only list 3-4 properties on the property portals and where there are over 120 units available in the recently built block.
Show me the real data...
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.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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Show me the data: Edwin Almeida

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<div>More interesting trends reported today by SQM Research for the month of April 2016.</div>
<div> </div>
<div>Over the past year Melbourne's reported vacancy rate declined from 2.2 per cent to 2.1 per cent, while in Sydney the reported vacancy rate has fallen from from 1.8 per cent to 1.7 per cent.</div>
<div> </div>
<div>At the other end of the spectrum, Perth reached a new cyclical high of 4.6 per cent suggesting that the bottom for the Western Australian capital may not yet be in, although lower interest rates may well help to support prices. </div>
<div> </div>
<div>In Perth both median house (-8.4 per cent) and unit (-9,3 per cent) asking rents have declined over the past year, although actual dwelling price declines have been modest. </div>
<div> </div>
<div>Asking rents are also down for Darwin houses (-8.4 per cent) and units (-12.5 per cent).</div>
<div> </div>
<div>On the other hand median asking unit rents increased year-on-year or both Sydney (+5 per cent) and Melbourne (+4.1 per cent), while in Brisbane the increase was more modest (+1.3 per cent).</div>
<a href="/images/2016/05/18/SQM.jpg" target="_blank">Click to enlarge</a>
<div class="separator"><img src="/images/2016/05/18/SQM.jpg" alt=""></div>
 
<div>Since month to month vacancy rates can move around a bit, I've smoothed the data below on a 4mMA basis (arguably I should also be applying a seasonal factor, but I haven't so...shucks).</div>
<div> </div>
<div>This chart gives an interesting perspective on recent trends, although the Christmas period can be a bit of a distortion.</div>
<div> </div>
<div><a href="/images/2016/05/18/SQM2.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/05/18/SQM2.jpg" alt=""></div>
 Fascinating stuff.
<div>In most capital cities vacancy rates have declined over the past year.</div>
<div> </div>
<div>In Sydney demand has marginally outstripped supply. Even in apartment construction hotspots such as Green Square vacancy rates have reportedly fallen sharply from 3.5 per cent this time last year to just 1 per cent.</div>
<div> </div>
<div>Now sure, you might question the measurement criteria (where a new block of units is constructed only a sample of apartments might be advertised for rent, for example), but aren't the measurement criteria measuring like-for-like figures?</div>
<div> </div>
<div>
PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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Melbourne and Sydney rental property vacancies down over year: Pete Wargent

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Population growth does not, alone, create real estate hotspots. And it’s not the core element of a growth property market. If it was, Melbourne prices would have grown faster than Sydney’s over the past five years.
Population is a factor, one of many to be considered.
In that regard, a recent analysis of population trends written by “Glenn the Census Exert” from the .id website team makes interesting reading. It focuses on Australia’s 50 largest cities and towns, based on ABS data for the 2015 financial year.
It shows the prominence of Melbourne as the nation-leading city. Over the 2015 financial year and over the previous five years, Melbourne added more to its population than Sydney did. Melbourne grew 10.1 percent in five years (adding almost 400,000 people), compared to Sydney’s 8.2 percent (343,000 extra citizens). Melbourne grew 2.0 percent in FY2015, compared to Sydney’s 1.7 percent.
So why has Sydney’s price growth been so much higher than Melbourne’s? Because Sydney’s economy has been stronger and the infrastructure spend has been much greater than Melbourne’s. Population growth is important, but economic strength and infrastructure spending has greater influence.
Perth has been an outstanding population growth story as well. Although it has a smaller population than Brisbane it has added considerably more (236,000) over the past five years than Brisbane (190,000) has. In fact, over five years Perth has a higher growth rate (13.7 percent) than Melbourne (10.1 percent) but its growth has slowed markedly in recent years – so that in FY2015 Perth’s population growth rate was lower than those in Melbourne, Sydney and Brisbane. Its stellar growth stopped when the resources boom fell away.
Of the 50 largest urban areas in Australia, the fastest growth rate over five years was achieved by the Melton LGA on the western periphery of Melbourne, up 28 percent. Another growth area on the fringes of Melbourne, the Warragul-Drouin area, grew 14.2 percent over five years. In that same time frame, Geelong added 12,000 to its population, a rise of 7 percent. This adds to the general scenario of Melbourne as the king of population growth. 
Also prominent were the Busselton (up 18.5 percent) and Bunbury (up 15 percent) areas, both south of Perth.
In terms of growth in FY2015, Melton was again No.1 (up 4.6 percent in 12 months), followed by Warrugul-Drouin, Busselton, Bunbury and Gladstone in Queensland (all growing between 2 percent and 3 percent over 12 months).
Other notable growth centres include the Sunshine Coast, which added as much to its population over five years as Canberra did, and the Gold Coast, which added twice as many people as Canberra and 10 times more than Hobart. 
The percentage growth rate for the Gold Coast is no longer as high as in the past (it’s now growing from a much larger base, so spectacular growth numbers aren’t so easy), but it’s still a massive growth centre. The population of the Gold Coast-Tweed region grew 53,500 over five years, a rise of almost 10 percent. It’s the nation’s sixth largest city, with 625,000 residents, well ahead of Newcastle-Maitland and Canberra-Queanbeyan.
So why have Gold Coast prices down little over the past five or six years, amid all that population growth? Because developers oversupplied the market with high-rise apartments, yet again. After six down years, the market is now showing some growth, because the surplus has been soaked up and, more importantly, there’s a massive infrastructure spend happening.
The Sunshine Coast has been a big growth centre. Its growth rate over five years (9 percent) has been almost as big as the Gold Coast’s, and 25,000 has been added to its population. The Sunshine Coast is the nation’s 10th biggest city – larger than Wollongong and considerably larger than Hobart.
Similar to the Gold Coast, the Sunshine Coast has become a growth property market because of significant new spending on infrastructure and other construction projects.
Townsville has attracted some negative headlines lately but it’s a significant growth city, adding 16,000 or 10% to its population over the past five years, reaching 180,000. It’s growing faster than its North Queensland rival, Cairns.
 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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Population growth does not, alone, create real estate hotspots: Terry Ryder

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If you thought the election debate on negative gearing was interesting watch the new property debates get a whole lot hotter with the Australian Taxation Office’s (ATO’s) latest bombshell announcement which guaranteed will send shockwaves through property markets. 
No doubt this is just the next step following the ATO being handed total ownership of the Australian property transaction register in mid – 2015, a role they had been champing at the bit to control for quite some time.
From Friday July 1 2016 (the day before the federal election) all sellers of residential and commercial property worth in excess of $2 million will be deemed as an overseas investor unless they can attain a special tax clearance. Failure to attain the special tax clearance certificate means the seller must deduct ten (10) percent from the purchase price which is immediately paid to the ATO.
No doubt lawyers, accountants and conveyancers would be rejoicing at these newly discovered revenue streams although what has not been announced is when a seller receives their compliant special tax clearance are the associated costs in receiving the compliance tax deductible?
This is all aimed at closing loopholes solely aimed at the leakage of tax revenues. Australian residents will get their tax clearance so long as they are up to date with tax returns, proving that they acquired the property within their declared earnings – which I see as a very good move.
When the ATO took over the property reins they quickly started extrapolating all property transactions back to 1985, so it will take a while to complete the register. This new legislation is simply closing the door on those who acquired property illegally either from proceeds of crime or as non – residents.
For the last five years foreign investors have been running amok buying Australian real estate. The federal governments have laid out the welcome mat when they raised off – the – plan purchase restrictions in 2008 from 50 percent to 100 percent.
This week Fitch Ratings warned that Australia clearly has a significant ‘hidden’ offshore property buyers risk. Andrea Jaehne, a director at Fitch Ratings, stated that she was shocked by the increase of foreign buyers since 2010, where the Foreign Investment Review Board experienced an eightfold increase in approvals up to 2015. She said that it was difficult to know the true number of properties being sold offshore because foreign investment rules did not require an approval for foreigners buying apartments off the plan.
The question that needs to now be asked is (with the recent property frenzy which conveniently replaced the mining boom) with all these new measures what will happen to property prices? Well foreign buyers will almost certainly now hold back and watch what happens to the Australian markets particularly Melbourne and Sydney – we can expect some big corrections in these investment markets.
With a further 250,000 apartments to hit the domestic markets within the next two years it is very difficult to see a happy outcome for these markets – more particularly as we have more evidence that these markets are significantly slowing. Then throw in the latest Australian Bureau of Statistics data which shows that Australian wages are growing at the slowest rate for at least 18 years.
Furthermore, we are now hearing that market analysts are now coming to the conclusion that low interest rates actually cause more damage to the economy. As one commentator said this week “very low interest rates around the world are inhibiting economic recovery rather than encouraging it.”
Australia is now just 44 days away from getting a clearer indication of what will happen to the markets more particularly with negative gearing. Now is not the time to start tinkering with investors clearly preferring existing properties. Agents will tell you that when an existing apartment comes onto the market the ratio of home buyers to investors inspecting is generally 50/50. Take away half the market and of course prices will come down – which in turn will drive rents up.
Of course the opposition treasurer could produce his modelling to show otherwise, however this has not been forthcoming so one can then conclude that no modelling is in existence.
With all that’s happening on the Australian property landscape the timing is a potential disaster. In the meantime, watch how many vendors try and offload their properties before the new ATO legislation comes into effect. No doubt the ATO will be watching too.
 
MOSMAN – 2088
Number of houses on the market this time last year – 65
Number of houses on the market last week – 55 
Number of houses on the market this week – 55 
Number of apartments on the market this time last year – 47
Number of apartments on the market last week – 50
Number of apartments on the market this week – 50
 
CREMORNE – 2090
Number of houses on the market this time last year – 5
Number of houses on the market last week – 7 
Number of houses on the market this week – 11 
Number of apartments on the market this time last year – 10
Number of apartments on the market last week – 23 
Number of apartments on the market this week – 22
 
NEUTRAL BAY – 2089 
Number of houses on the market this time last year – 6
Number of houses on the market last week – 8
Number of houses on the market this week – 8 
Number of apartments on the market this time last year – 29 
Number of apartments on the market last week – 21
Number of apartments on the market this week – 22
 
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000.
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