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.

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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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Why are some property investors able to grow significant wealth while others who have the same information, the same opportunities and the same resources are just not able to make a success of their investments?
Here's why: While certain knowledge, techniques and strategies are critical in becoming a successful property investor, it is just as, if not more important, to have the right mindset.
The fact is that both poverty and riches are the result of a state of mind, which means you must develop a prosperity consciousness and become financially successful in your thinking before you can achieve it in reality.
<h3>Why you must change first</h3>
One of the most important steps you can take along your road to financial independence is a change in your mindset, your way of thinking. This must happen before anything else happens, because most of us were programmed to fail in our early childhood.
Much of what we know about money is based on false assumptions because we've been taught a range of myths and misconceptions about what it takes to create wealth.
Most Australian's were taught to think "poorly" by their parents, teachers and the media. And they just take for granted what they were told in much the same way as others assumed the world was flat. As a consequence only a small percentage of Australia's join the ranks of the wealthy.
How can they? They are building their foundation of wealth on a shaky groundwork.
Let's have a look at some of the false assumptions you may have been taught.
<h3>1. A good job will make you wealthy</h3>
Many of us were taught to get an education, find a good job and work hard at it. But this rarely leads to wealth. You become rich when small efforts produce large results. Poverty is when large efforts produce small results.
You should see a job as a temporary inconvenience, a method of generating cashflow for living expenses while you grow your property portfolio, which will eventually become your source of financial independence.
<h3>2. Saving is good</h3>
How many millionaires do you know who became wealthy by saving their money? Don't get me wrong – saving is a required discipline when you begin your investment journey because you need to save your funds to develop a big enough kitty to invest in growth assets, but you can't save your way to wealth.
<h3>3. Debt is bad</h3>
While there is some truth to this, it depends on what kind of debt you are talking about. Consumer debt is bad, so avoid borrowing money to buy things that go down in value. But borrowing money to invest is another story. You can not become wealthy without some form of investment debt. Borrowing to purchase investment properties is a wise use of investment debt.
<h3>4. Failure is bad</h3>
I have had my share of failures and mistakes and I used to be ashamed of them, until I realised that failure is a part of success. A very important part.
If you develop a positive mental attitude about failure you can learn a great deal from it. One of my early mentors had gone broke three times before he became one of Australia's most successful property developers. In fact, I don't know any successful people who have not risen to the top without some failures.
Successful people often have more failure than failures do. But they keep going. Failure is not bad. In fact, one good failure can teach you more about success than years of studying at university. Failing can be the best thing that ever happened to you
<h3>5. Wealth is measured by material possessions</h3>
It took me many years to realise that wealth is much more than money. Money is just one of the appearances of wealth, which is really a state of mind, an attitude. Wealth is your thoughts, not your things. You can become wealthy without having lots of money and you can be rich yet not wealthy.
<h3>6. Abundance not scarcity</h3>
Successful investors have a feeling of abundance, while many Australians have a scarcity mindset. They see wealth as a win/lose game. A dirty business in which the rich take advantage of the poor. That's why they have come up with the expressions such as "filthy rich" or "dirty money".
The truth is, whatever amount you get has nothing to do with how much or how little anybody else has. It never has and it never will. Those with an abundant mindset believe they don't have to steal from your pile in order to get create a larger pile for themselves. Your wealth is in addition to and not in subtraction to anybody. Unless you truly believe this you will always suffer from wealth inhibition.
The sad reality of life is that because of their programming many people assume that wealth is the result of luck, connections or inheritance. The last thing they want to hear is the plain truth that the rich think differently from the average Australian, or that they have a different mindset and different expectations when it comes to money.
<h3>How do you develop a wealthy mindset?</h3>
The first step is to understand how your programming as a child has caused you to make certain assumptions that have now become your reality – the way you filter what comes into your mind from the outside world.
Then you need to model wealthy people who have gone before you and done what you want to do. Look at successful investors and study what they do, how they behave and how they think, and then do the same.
And guess what? By taking this approach you can often repeat their success.
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

Six ways successful property investors think differently

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Canberra landlords, capitalising on the housing supply shortage, increased asking rents rising 6.4% in the final three months of 2011.
Data from Australian Property Monitors shows asking rents for Canberra houses rose $30 to a median of $500 a week.
The four other capital cities to notch house rental rises over the quarter were Brisbane, up 2.7% to $380, Perth, up 2.6% to $400, Adelaide, up 1.5% to $340, and Sydney, up 1% to a $500 median weekly asking rental for houses.
<img src="/images/stories/rentapm1.jpg">
Melbourne, Darwin and Hobart recorded no increases in median asking weekly house rentals over the December quarter.
<img src="/images/stories/rentapm2.jpg">
APM concluded that nationally rentals had resumed upward growth after flat results over the previous two quarters.
The national median weekly asking rents for houses rose by 1.1% in the December quarter, with rents for units rising by 1.4%.
The increased rentals over the December quarter for both houses and units indicated increased competition for accommodation particularly from first-home buyers struggling to secure property in the marketplace, APM senior economist Dr Andrew Wilson says.
<img src="/images/stories/rentapm3.jpg">
“The Sydney, Perth and Canberra rental markets have been characterised by chronically low vacancy rates and, with ongoing low levels of new construction, this situation is expected to continue with upward pressure on rentals.
“The Brisbane rental market also remains highly competitive for tenants reflecting ongoing consequences of the devastating floods of early 2011 and the slow progress of reconstruction.
“Melbourne continues to be Australia’s most tenant-friendly rental market with a wider choice of properties courtesy of nation-leading dwelling construction and no growth in rentals for both units and houses over the December quarter.”
<img src="/images/stories/rentapm4.jpg">
APM notes that rising rentals combined with a general softening in prices has resulted in increases in gross rental yields for most capitals over 2011.
Units continue to provide higher gross rental returns compared with houses in all the mainland capitals despite units generally outperforming houses in the sales market.
Capital city house rental yields range between 3.95% in Melbourne to 5.09% in Hobart.
Unit yields range from 4.44% in Melbourne to 5.38% in Canberra. 
Canberra rental agents report there is always a much higher demand for properties over the November to February months, hence the increase in rents due to demand. 
“This demand falls over the winter months, so there is a delicate balancing act with respect to price,” one managing agent suggests.
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jchancellor-FAypfDUnLy

Canberra landlords seek higher rents in response to housing shortage

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Dwelling approvals rebounded in November 2011, rising 8.4% to 11,424 dwellings mainly as a result of a big jump in apartment and unit approvals.
The November rise reverses falls of 14.8% and 10% in September and October, according to the latest ABS data.
The seasonally adjusted estimate for private-sector units increased 17.2% in November 2011 following a fall of 10% in the previous month, and estimates for houses rose 4.8% following a fall of 9.6% in the previous month.
Building approval figure have see-sawed up and down throughout 2011, but the overall trend has been a significant decline, with total dwelling units down 18.9% for the year to November 2011. Units were down 27.8% and houses down 9.6%.
Building approvals have fallen in eight of the past 12 months on a seasonally adjusted basis up until November 2011.
HSBC chief economist Paul Bloxham says the “broad story” in the figures is that housing construction is still declining.
He described the November improvement as a bit of a tick back after the steep declines of September and October.
Victoria recorded a 39.9% seasonally adjusted jump in total building approvals in November, but this followed two months of steep declines in September (-13%) and October (-18.4%).
In absolute terms, approvals of houses in Victoria increased to 1,707 in November compared with just 930 in October, while unit approvals rose to 4,484 from 3,366 in October.
Putting the November result into perspective, there were 5,664 unit approvals in March 2011, but since then monthly approvals have all been below 5,000 units.
In Queensland, where the $10,000 building boost <a href="https://www.propertyobserver.com.au/residential/queensland-government-to-extend-building-boost-until-april/2012011253029">has now been extended to April</a> after gathering some momentum, building approvals improved by 6.6%.
NSW registered a 2% increase in building approvals, and there was a 16.9% drop in Western Australia.
Also released were construction figures, which revealed that seasonally adjusted residential building work done fell by 1.6% to an annualised level of $45.5 billion in the September 2011 quarter. 
HIA chief economist Harley Dale says: “Leading housing indicators looked very weak in late 2011, but ahead of this period actual residential construction activity had already been trending down for 12 months”. 
“A three-pronged attack is required to resurrect activity in residential building, an industry which has a large multiplier impact in terms of output and employment across the wider domestic economy,” he says. 
“There is an urgent need for further cuts in borrowing costs for both businesses and mortgage holders, short-term government stimulus, and renewed action on the longer-term housing policy reform front.” 
However, CBA chief economist Michael Blythe is forecasting dwelling construction to lift from 148,000 units in 2011 to 155,000 in 2012. 
“Part of the thinking behind this forecast is the idea that there is a ‘natural’ level of construction activity around which actual dwelling starts cycle,” he says.
“Over the past 15 years that natural level has sat in a 150,000-to-160,000 per annum range. The level reflects factors such as land release, manufacturing capacity, construction company appetite and competition for labour and resources from other construction activities. 
“Various factors drive the cycle around the natural level. But much of the divergence is associated with changes in government housing policy and exogenous ‘shocks’ such as the GFC. 
“For the past five years the demographically driven demand for new housing has run well ahead of new supply. As a result, there is an excess demand for dwellings and a pent-up or accumulated demand as well. Low residential vacancy rates and above-average growth in dwelling rents are the visible signs of this imbalance. This demand-supply mix suggests that there is limited downside to residential construction in 2012,” he says.
Other factors such as improved housing affordability Blythe says are “trending in the direction of upside risks to our 2102 call”.
 
 
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lschlesinger-FZcF9M3vE6

Building approvals jump in November due to pick-up in units: ABS

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It’s hard to avoid concluding that both employment and commercial property returns in Australia are going to come under a lot of pressure this year and beyond. The banks are clearly preparing for some big redundancy rounds because of slower lending growth and higher funding costs, and retailers have been closing down and reducing staff for a while already and are going to keep doing it. Meanwhile, the manufacturing industry is hanging on by its fingernails, through government funding of the car industry. These industries are Australia’s three biggest employers, and each is now in a downturn for both the same and different reasons. They are going to need fewer workers and less real estate – offices, shops and factories. This week a big report on the banks by Jonathan Mott of UBS got a lot of attention when he predicted that 7,000 jobs would go in the banking industry. He said the banks’ staff numbers have increased from 141,000 to 179,000 over the past 10 years, and would be cut to 172,000 over two years. And the rest. As Stephen Bartholomeusz pointed out in Business Spectator yesterday (<a target="_blank" href="https://www.businessspectator.com.au/bs.nsf/Article/ANZ-McFarlane-job-cuts-banks-CBA-NAB-WBC-pd20120117-QL3MP?OpenDocument&amp;src=sph">Brace for a bank jobs blitz</a>, January 17), banks will have to reshape their business models, if not reinvent them, because credit growth has fallen permanently, the cost of funds has increased and online banking is now fully established. As with retailing and manufacturing – all businesses in fact – the first of those is the most important. Banks have already disconnected themselves from the Reserve Bank’s interest rate moves and will be cutting their mortgage rates by less than official cash rates this year. In fact, they might even increase rates while the RBA cuts. Cost increases can generally be passed on to customers, but if demand for your product is down there is nothing you can do but reduce costs, and for banks, retailers and manufacturers, that means staff. Jonathan Mott says the banks have been “lax” on costs, increasing staff by 7% a year for a decade, compared with 2.7% a year the previous decade. They were “investing for growth”. That growth – 14% to 16% compound annual growth in lending – has now evaporated and the banks have entered a new era of low volume growth as their customers retrench debt. The only sector that is investing and borrowing large sums in Australia is mining and energy, and the local banks haven’t got much of a foothold there – the big projects are funded globally. And mortgage rate cuts only tend to accelerate the reduction in lending growth because 80 per cent of mortgagees don’t reduce their repayments: they just increase their principal repayments and keep the monthly mortgage payments the same. That offsets any growth in new lending, which is pretty weak these days anyway. And the fact is that almost everybody is using ATMs and internet banking these days. Branches and face-to-face contact with customers are still important for sales and client relationships – especially big clients – but nobody’s going into branches to get cash, transfer money or pay bills any more. A revolution has happened in banking that is not yet reflected in the way they operate. I suspect the reduction in banking employment will be a lot more than 7,000 over the next few years. Likewise retailing. I drove down the clothing precinct of Bridge Road, Richmond yesterday and in a few hundred metres counted six closing down sales and three empty stores. While the big malls are still reporting near-100 per cent occupancy, most strip shopping centres are being hollowed out by online shopping combined with weak consumer spending. The retail revolution has only just begun but it’s happening with a rush now, helped by the strong Australian dollar. With customers doing a big part of their shopping online, a lot less shop staff will be needed to help them decide what to buy. As for manufacturing, the Australian dollar is not coming down in a hurry so exporting and competing with imports will remain difficult, if not impossible. The car industry patient is being kept alive by government life support, but at some point, you’d think, the respirator will have to be turned off, or at least down. Even with the subsidies, parts of the industry will die. Empty offices, empty shops, empty factories… who’d want to own commercial property these days?
This article originally appeared on <a href="https://www.businessspectator.com.au/" target="_blank">Business Spectator</a>.  
 
 
 
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akohler-TyLfJGrMb8

Commercial property under pressure due to job cut trend: Alan Kohler

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<img style="border-style: initial; border-color: initial;" src="/images/stories/48586.gif">
The number of properties on the market in Melbourne in December 2011, according to SQM Research. This is up 43% from 33,865 in December 2010.
 
<hr>
 
<img src="/images/stories/342581.jpg">
The number of properties on the market in Sydney in December 2011, according to SQM Research. This is up 23% from 27,956 in December 2010.
 
<hr>
 
 
<img src="/images/stories/29211.gif">
The number of properties on the market in Brisbane in December 2011, according to SQM Research. This is up 3% from 28, 389 in December 2010.
 
<hr>
<img src="/images/stories/19579.gif"> 
The number of properties on the market in Perth in December 2011, according to SQM Research. This is up 1% from19,292 in December 2010.
 
<hr>
<img src="/images/stories/17953.gif">
The number of properties on the market in Adelaide in December 2011, according to SQM Research. This is up 26% from 14,242 in December 2010.
 
<hr>
 
<img style="border-style: initial; border-color: initial;" src="/images/stories/4689.gif"> 
The number of properties on the market in Hobart in December 2011, according to SQM Research. This is up 52% from 3,090 in December 2010.
 
<hr>
<img src="/images/stories/1907.gif">
The number of properties on the market in Canberra in December 2011, according to SQM Research. This is up 21% from 1,578 in December 2010.
 
<hr>
 
<img src="/images/stories/1542.gif">
The number of properties on the market in Darwin in December 2011, according to SQM Research. This is down 1% from 1,554 in December 2010.
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cknowlton-QnEa6ntUYP

How much property is on the market in your capital city? A state-by-state analysis

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Encouraging signs for the housing market have emerged in the January Westpac-Melbourne Institute Index of Consumer Sentiment.
The sub-index tracking responses on “whether now is a good time to buy a dwelling” jumped by 6.5%, representing a 14.1% gain in sentiment over the past year.
But with pessimists outnumbering optimists for six out of the last seven months, overall consumer sentiment edged up only slightly in January. The survey was conducted from January 9 to January 12.
Despite rising expectations about the broader economy through 2012, economists say European debt woes and concerns over the labour market took the shine off falling interest rates.
A 2.4% increase took the Westpac-Melbourne Institute of Consumer Sentiment index to 97.1, still below the long-term average of 101.8 and well below the 120.1 result this time last year. The index is calculated from the results of several subindexes.
The rise in the overall index was largely due to an almost 10-point jump in the subindex measuring expectations of economic conditions over the next 12 months.
However, the subindex measuring family finances in 2011 suffered a 2.5-point drop, and the subindex measuring expectations of family finances over the next year rose only 0.7 points.
The release noted divergence between the sentiments of consumers regarding their own spending and their views of the wider economy – it says economic behaviour is more likely to be influenced by the latter.
"We've been resilient to external shocks, and that's become part of the way Australian consumers see Australia and our economy," Westpac senior economist Matthew Hassan says.
"There may be a disconnect between the mining-driven broader economy and what consumers are actually seeing."
The bank describes the result as "disappointing", as it showed the two interest rate cuts had only a minor effect on consumer sentiment.
"We've had quite an abrupt shift on interest rates," says Hassan.
"The RBA went from a tightening bias to cutting rates, with an expectation of further rate cuts on the way."
"Ordinary, if you move like that, you hope to get a sustained bounce in consumer sentiment."
"We have seen a rise, but the level of the index suggests the initial bump may be starting to fade."
Hassan says the steady drip of bad news from Europe may have played a role in the weaker-than-expected result, as might ongoing concerns around labour markets.
The RBA board will next meet on Tuesday February 7. Westpac expects the board to again cut rates by 0.25 percentage points.
Additional reporting by Myriam Robin of<a target="_blank" href="https://www.smartcompany.com.au/index.php"> SmartCompany</a>.
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Time to buy a dwelling index jumps in January: Westpac-Melbourne Institute Index

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Three regional Queensland markets head RP Data’s top 10 list of locations with the highest proportions of homes with negative equity, according to the latest quarterly report.
The situation is particurlarly acute in far north Queensland, where more than one in five home owners (20.2%) had negative equity in their homes in the September 2011 quarter, up from 13.5% in the previous quarter.
This region, which includes Cairns, Palm Cove, Port Douglas, Innisfail, Weipa and Atherton, “has been noticeably weak and has felt the full brunt of the economic downturn”.
“Prior to the onset of the financial crisis this region was benefitting from surging demand due to strong population growth, and property values were subsequently rising strongly.
“As a result, the vast majority of home owners that have purchased since 2008 are likely to be in a negative equity position,” says RP Data.
Second and third on the list are the Gold Coast (14% of homes in negative equity) and the Sunshine Coast (13.5% in negative equity) while the Wide Bay-Burnett region – the coastal and hinterland areas between Caloundra and Gladstone – also makes it onto the list with, just under one in 10 homes in negative equity. 
The proportion of homes with negative equity on the Gold Coast is up from 9.9% in the previous quarter, highlighting “the ongoing weakness across the market, with no signs of a recovery in property values to date across the region”. 
Western Australia regional areas are also prominent on the list, with more than 10% of properties in negative equity in four locations. 
Two Victorian regional areas – Ovens-Murray and the Mallee – round out the top 10.
<img src="/images/stories/negativeequity1.gif">
Across Australia (<a href="https://www.propertyobserver.com.au/residential/melbourne-leads-nationwide-drop-in-house-prices-in-second-half-of-2011-residex/2012011753062" target="_blank">and in line with a decline in property values</a>) nearly one in 20 home owners (4.9%) find themselves owning properties that are worth less than when they bought them, up from 3.7% in the previous quarter.
At the opposite end of the spectrum, the top 10 regions with the lowest levels of negative equity have less than 3.5% of all properties in a position where the current value is lower than the purchase price. 
Canberra has the lowest proportion of properties in a negative equity position, with just 1.2%, up from 1% in the June quarter, with Melbourne and Sydney also making the list of regions with the lowest instances of negative equity.
Outside of these three locations, most regions on this list are “heavily linked to the resources sector or they are agricultural areas” says RP Data.
<img src="/images/stories/negativeequity2.gif">
Overall, Victorian households enjoy the strongest equity position, with 68.5% of home owners having at least 50% equity in their property, down from 71.4% last quarter.
Households in the Northern Territory (60.6%) and the Australian Capital Territory (60.5%) also enjoy relatively strong positions.
RP Data estimates equity accumulation by measuring the difference between the original purchase price of home and the current valuation for individual properties around the country.
It therefore does not take into account the size of people’s mortgages in relation to the value of their homes – the typically understood definition of negative equity.
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FNQ, Sunshine and Gold coasts dominate RP Data negative equity list

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Although the <a target="_blank" href="https://www.propertyobserver.com.au/residential/melbourne-leads-nationwide-drop-in-house-prices-in-second-half-of-2011-residex/2012011753062">pace of house price declines increased over the last six months of 2011</a>, Residex CEO John Edwards expects the overall housing market to recover in 2012 and “exit a period of negative adjustment”.
Edwards says the price adjustments in 2011 were necessary, because markets were overvalued and affordability remained a problem.
This correction, he says, should ensure “we avoid the speculated housing ‘bubble bust’”.
“Our housing markets ended 2011 in a better position to where they started and I am confident that the year ahead will be better for residential property owners compared to last year,” he says.
He bases this view on the fact that in December 2010 house prices declined by 1.10% while they only declined by 0.72% in December 2011.
“Most owners should see their assets hold value or increase and this year could in fact be a good time for investor activity provided the world economy doesn’t move into severe recession as a consequence of the problems in Europe.
According to Edwards, examining the monthly trend for house and unit prices in Australia over the past two years suggests markets are “exiting a period of negative adjustment”.
<img src="/images/stories/residexjan181.gif">
“However, in my view, we should not expect any rapid uplift in housing values because current economic conditions are not capable of supporting strong consumer activity. Retail activity during the Christmas period certainly suggests that consumers are cautious,” he says.
Looking at the monthly growth trends on a capital city basis shows that Melbourne, Hobart and Perth are improving while the Canberra, Darwin, Sydney and  Brisbane markets heading down.
<img src="/images/stories/residexjan182.gif">
<img src="/images/stories/residexjan183.gif">
The bottom line, according to Edwards, “is that we have achieved a good result, and it looks like an overall improving position may be the trend in the coming year.” 
“Overall, the outcome for the year ahead will depend on interest rates, the eurozone crisis, inflation, the employment level and the carbon tax,” he says. 
Edwards says even further housing price falls in 2012 would provide opportunity. 
“Australians are much better placed than many other people in the world, and the adjustment period we have recently seen, with a clear upswing in our markets in the last few months, means that there is a reasonable chance that our markets will advance positively, albeit by a relatively small amount, in the current year,” he says. 
“Additionally, in this situation there will be bargains for the astute house hunter along with quality growth in many suburbs,” he says.
For more expert forecasts about what 2012 has in store for Australia's property market, <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-property-forecasts-for-2012">download our free eBook</a>.
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Australian housing market set to recover in 2012: Residex's John Edwards

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Renters of houses in Sydney are paying an average of $55 more a week than they were six months ago, with median house rents rising from $500 to $555 in the space of six months, according to the latest Residex data.
Sydney recorded a 6.73% increase in median house rents over the course of 2011, the biggest increase of all the capital cities.
Brisbane was the only capital city market to record a decline in house rents over 2011 with renters paying $375 per week on average (an decrease of 2.6% over 2011) compared to $380 six months ago.
Perth recorded the second biggest capital city increase, with house rents rising 5.26% over the past 12 months to a median of $400. On average Perth renters are paying $10 more than they did a year ago.
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top">
Area
</td>
<td valign="top">
Rate month ending Dec 2011
</td>
<td valign="top">
Month ending Dec 2011
</td>
<td valign="top">
Year change
</td>
</tr>
<tr>
<td valign="top">
ACT
</td>
<td valign="top">
4.78%
</td>
<td valign="top">
$480
</td>
<td valign="top">
3.23%
</td>
</tr>
<tr>
<td valign="top">
Adelaide
</td>
<td valign="top">
4.33%
</td>
<td valign="top">
$330
</td>
<td valign="top">
0.00%
</td>
</tr>
<tr>
<td valign="top">
SA Country
</td>
<td valign="top">
5.02%
</td>
<td valign="top">
$255
</td>
<td valign="top">
6.25%
</td>
</tr>
<tr>
<td valign="top">
Brisbane
</td>
<td valign="top">
4.59%
</td>
<td valign="top">
$375
</td>
<td valign="top">
-2.60%
</td>
</tr>
<tr>
<td valign="top">
QLD Country
</td>
<td valign="top">
5.25%
</td>
<td valign="top">
$370
</td>
<td valign="top">
2.78%
</td>
</tr>
<tr>
<td valign="top">
Darwin
</td>
<td valign="top">
5.82%
</td>
<td valign="top">
$540
</td>
<td valign="top">
3.85%
</td>
</tr>
<tr>
<td valign="top">
Northern Territory
</td>
<td valign="top">
5.95%
</td>
<td valign="top">
$525
</td>
<td valign="top">
0.96%
</td>
</tr>
<tr>
<td valign="top">
Hobart
</td>
<td valign="top">
4.55%
</td>
<td valign="top">
$340
</td>
<td valign="top">
0.00%
</td>
</tr>
<tr>
<td valign="top">
TAS Country
</td>
<td valign="top">
4.84%
</td>
<td valign="top">
$250
</td>
<td valign="top">
-3.85%
</td>
</tr>
<tr>
<td valign="top">
Melbourne
</td>
<td valign="top">
3.45%
</td>
<td valign="top">
$380
</td>
<td valign="top">
1.33%
</td>
</tr>
<tr>
<td valign="top">
VIC Country
</td>
<td valign="top">
4.78%
</td>
<td valign="top">
$305
</td>
<td valign="top">
1.67%
</td>
</tr>
<tr>
<td valign="top">
Perth
</td>
<td valign="top">
4.45%
</td>
<td valign="top">
$400
</td>
<td valign="top">
5.26%
</td>
</tr>
<tr>
<td valign="top">
WA Country
</td>
<td valign="top">
5.00%
</td>
<td valign="top">
$335
</td>
<td valign="top">
4.69%
</td>
</tr>
<tr>
<td valign="top">
Sydney
</td>
<td valign="top">
4.40%
</td>
<td valign="top">
$555
</td>
<td valign="top">
6.73%
</td>
</tr>
<tr>
<td valign="top">
NSW Country
</td>
<td valign="top">
5.29%
</td>
<td valign="top">
$340
</td>
<td valign="top">
3.03%
</td>
</tr>
<tr>
<td valign="top">
Australia
</td>
<td valign="top">
4.43%
</td>
<td valign="top">
$365
</td>
<td valign="top">
-1.35%
</td>
</tr>
</tbody></table>
 
Darwin remains the second most expensive city to rent a house, with rents increasing by 3.85% to $540 per week.
Outside of Brisbane, Country Tasmania was the only other market to register a decline in rents over the year with the median rent falling 3.85% to $250 per week.
Capital city rent changes over past six months:
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="205">
 
</td>
<td valign="top" width="205">
Median weekly rent Dec 2011
</td>
<td valign="top" width="205">
Median weekly rent June 2011
</td>
</tr>
<tr>
<td valign="top" width="205">
Sydney
</td>
<td valign="top" width="205">
$555
</td>
<td valign="top" width="205">
$500
</td>
</tr>
<tr>
<td valign="top" width="205">
Darwin
</td>
<td valign="top" width="205">
$540
</td>
<td valign="top" width="205">
$520
</td>
</tr>
<tr>
<td valign="top" width="205">
Canberra
</td>
<td valign="top" width="205">
$480
</td>
<td valign="top" width="205">
$480
</td>
</tr>
<tr>
<td valign="top" width="205">
Perth
</td>
<td valign="top" width="205">
$400
</td>
<td valign="top" width="205">
$390
</td>
</tr>
<tr>
<td valign="top" width="205">
Melbourne
</td>
<td valign="top" width="205">
$380
</td>
<td valign="top" width="205">
$380
</td>
</tr>
<tr>
<td valign="top" width="205">
Brisbane
</td>
<td valign="top" width="205">
$375
</td>
<td valign="top" width="205">
$380
</td>
</tr>
<tr>
<td valign="top" width="205">
Hobart
</td>
<td valign="top" width="205">
$340
</td>
<td valign="top" width="205">
$350
</td>
</tr>
<tr>
<td valign="top" width="205">
Adelaide
</td>
<td valign="top" width="205">
$330
</td>
<td valign="top" width="205">
$320
</td>
</tr>
<tr>
<td valign="top" width="205">
Australia
</td>
<td valign="top" width="205">
$365
</td>
<td valign="top" width="205">
$370
</td>
</tr>
</tbody></table>
Source: Residex
 
 
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Sydney house rents up $55 per week in six months, but Brisbane rents down: Residex

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Australian house prices deteriorated considerably over the last six months of 2011, according to Residex, with Melbourne showing the greatest deterioration over this period.
In its latest report, Residex data reveals that across Australia house prices declined by 3.18% in 2011, compared with an annual decline of just 1.19% at the end of June 2011. 
Six month ago, Melbourne house prices were actually up 1.58% on annualised basis, but the latest report shows they are now down 3.28% over the past 12 months to a median value of $574,000. 
The rate of decline in Sydney house prices has also picked up, although the city recorded the smallest drop of the major capital city markets, with values falling 2.54% for the year to a median of $656,000. Six months ago Sydney house prices were down just 0.47% for the year. 
December figures suggest the decline in Brisbane house prices appears to be slowing, with the city recording an annual fall of 6.7% over 2011 to $427,500. Six months ago Brisbane prices were down 5.66% for the year. 
Perth house prices declined by 3.76% for the year, having been down 2.21% for the year six months ago, while Adelaide price falls accelerated, falling 3.17% over 2011. Adelaide prices were down 1.38% at the end of June 
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="205">
 
</td>
<td valign="top" width="205">
Annual change in house prices as of December 2011
</td>
<td valign="top" width="205">
Annual change in house prices as of June 2011
</td>
</tr>
<tr>
<td valign="top" width="205">
Melbourne
</td>
<td valign="top" width="205">
-3.28%
 
</td>
<td valign="top" width="205">
1.58%
</td>
</tr>
<tr>
<td valign="top" width="205">
Sydney
</td>
<td valign="top" width="205">
-2.54%
 
</td>
<td valign="top" width="205">
-0.47%
</td>
</tr>
<tr>
<td valign="top" width="205">
Brisbane
</td>
<td valign="top" width="205">
-6.70%
 
</td>
<td valign="top" width="205">
-5.66%
</td>
</tr>
<tr>
<td valign="top" width="205">
Perth
</td>
<td valign="top" width="205">
-3.76%
 
</td>
<td valign="top" width="205">
- 2.21%
</td>
</tr>
<tr>
<td valign="top" width="205">
Adelaide
</td>
<td valign="top" width="205">
-3.17%
 
</td>
<td valign="top" width="205">
-1.38%
</td>
</tr>
<tr>
<td valign="top" width="205">
Australia
</td>
<td valign="top" width="205">
-3.18%
</td>
<td valign="top" width="205">
-1.19%
</td>
</tr>
</tbody></table>
 Source: Residex
While Melbourne house prices continued to fall in 2011, country Victoria prices rebounded, rising by 3.38% in the year to median of $332,000. The only other markets to record price increases over the year were Hobart (up 0.32% to $389,000) and country South Australia, where prices increased by 0.49% during 2011 to $264,000. 
According to Residex, sales activity across Australia dropped by 6.32% in 2011, however buyers showed interest in Melbourne, Canberra and Darwin, where sales increased by 14.95%, 7.38% and 7.30% respectively. 
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top">
Area
</td>
<td valign="top">
Median house price
</td>
<td valign="top">
10 years % p.a.
</td>
<td valign="top">
Year ending Dec 2011
</td>
<td valign="top">
Last quarter
</td>
<td valign="top">
Last month
</td>
</tr>
<tr>
<td valign="top">
ACT
</td>
<td valign="top">
$526,500
</td>
<td valign="top">
8.47%
</td>
<td valign="top">
-2.03%
</td>
<td valign="top">
-1.84%
</td>
<td valign="top">
0.51%
</td>
</tr>
<tr>
<td valign="top">
Adelaide
</td>
<td valign="top">
$395,500
</td>
<td valign="top">
8.34%
</td>
<td valign="top">
-3.17%
</td>
<td valign="top">
-0.43%
</td>
<td valign="top">
0.79%
</td>
</tr>
<tr>
<td valign="top">
SA Country
</td>
<td valign="top">
$264,000
</td>
<td valign="top">
8.60%
</td>
<td valign="top">
0.49%
</td>
<td valign="top">
3.09%
</td>
<td valign="top">
2.42%
</td>
</tr>
<tr>
<td valign="top">
Brisbane
</td>
<td valign="top">
$427,500
</td>
<td valign="top">
8.65%
</td>
<td valign="top">
-6.70%
</td>
<td valign="top">
-2.54%
</td>
<td valign="top">
-0.49%
</td>
</tr>
<tr>
<td valign="top">
QLD Country
</td>
<td valign="top">
$367,000
</td>
<td valign="top">
8.75%
</td>
<td valign="top">
-3.41%
</td>
<td valign="top">
0.09%
</td>
<td valign="top">
-0.67%
</td>
</tr>
<tr>
<td valign="top">
Darwin
</td>
<td valign="top">
$484,500
</td>
<td valign="top">
10.15%
</td>
<td valign="top">
-6.11%
</td>
<td valign="top">
-1.25%
</td>
<td valign="top">
-1.70%
</td>
</tr>
<tr>
<td valign="top">
Northern Territory
</td>
<td valign="top">
$462,000
</td>
<td valign="top">
10.21%
</td>
<td valign="top">
-4.72%
</td>
<td valign="top">
-0.98%
</td>
<td valign="top">
-1.51%
</td>
</tr>
<tr>
<td valign="top">
Hobart
</td>
<td valign="top">
$389,000
</td>
<td valign="top">
10.94%
</td>
<td valign="top">
0.32%
</td>
<td valign="top">
1.14%
</td>
<td valign="top">
2.81%
</td>
</tr>
<tr>
<td valign="top">
TAS Country
</td>
<td valign="top">
$269,500
</td>
<td valign="top">
10.43%
</td>
<td valign="top">
-1.89%
</td>
<td valign="top">
-0.30%
</td>
<td valign="top">
0.03%
</td>
</tr>
<tr>
<td valign="top">
Melbourne
</td>
<td valign="top">
$574,000
</td>
<td valign="top">
8.07%
</td>
<td valign="top">
-3.28%
</td>
<td valign="top">
-1.01%
</td>
<td valign="top">
-0.10%
</td>
</tr>
<tr>
<td valign="top">
VIC Country
</td>
<td valign="top">
$332,000
</td>
<td valign="top">
8.19%
</td>
<td valign="top">
3.38%
</td>
<td valign="top">
1.76%
</td>
<td valign="top">
-0.89%
</td>
</tr>
<tr>
<td valign="top">
Perth
</td>
<td valign="top">
$469,000
</td>
<td valign="top">
9.52%
</td>
<td valign="top">
-3.76%
</td>
<td valign="top">
0.41%
</td>
<td valign="top">
-1.11%
</td>
</tr>
<tr>
<td valign="top">
WA Country
</td>
<td valign="top">
$350,000
</td>
<td valign="top">
9.66%
</td>
<td valign="top">
-2.72%
</td>
<td valign="top">
1.75%
</td>
<td valign="top">
-2.11%
</td>
</tr>
<tr>
<td valign="top">
Sydney
</td>
<td valign="top">
$656,000
</td>
<td valign="top">
4.97%
</td>
<td valign="top">
-2.54%
</td>
<td valign="top">
-1.78%
</td>
<td valign="top">
-0.24%
</td>
</tr>
<tr>
<td valign="top">
NSW Country
</td>
<td valign="top">
$334,500
</td>
<td valign="top">
6.31%
</td>
<td valign="top">
-2.78%
</td>
<td valign="top">
-1.09%
</td>
<td valign="top">
0.40%
</td>
</tr>
<tr>
<td valign="top">
Australia
</td>
<td valign="top">
$429,500
</td>
<td valign="top">
8.05%
</td>
<td valign="top">
-3.18%
</td>
<td valign="top">
-1.00%
</td>
<td valign="top">
-0.72%
</td>
</tr>
</tbody></table>
 
 
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