<p data-end="309" data-start="290"><strong data-end="309" data-start="290">Article summary</strong></p>

<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" />
<p data-end="896" data-section-id="ojaazg" data-start="792">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.</p>

<p data-end="1358" data-start="1137">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.</p>

<p data-end="1358" data-start="1137">[smartcode_project:default project_id=90059 project_image_fid=374075]</p>

<p data-end="1577" data-start="1360">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.</p>

<p data-end="1781" data-start="1579">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.</p>

<p data-end="1977" data-start="1783">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.</p>

<p data-end="1977" data-start="1783">[smartcode_project:default project_id=90059 project_image_fid=374059]</p>

<p data-end="2314" data-start="1979">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.</p>

<p data-end="2423" data-start="2316">Pikos said the penthouse collection represented the culmination of the company's long-term vision for Skye.</p>

<p data-end="2519" data-start="2425">"True legacy isn't measured by what we build today, but by what endures tomorrow," Pikos said.</p>

<p data-end="2688" data-start="2521">"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."</p>

<p data-end="2688" data-start="2521">[smartcode_project:default project_id=90059 project_image_fid=374060]</p>

<p data-end="2840" data-start="2690">Williamson said the interiors were inspired by the natural character of Kangaroo Point and the Brisbane River rather than international design trends.</p>

<p data-end="2900" data-start="2842">"Materiality tells the story of a place," Williamson said.</p>

<p data-end="3105" data-start="2902">"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."</p>

<p data-end="3300" data-start="3107">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.</p>

<p data-end="3300" data-start="3107">[smartcode_project_cta:default project_id=90059]</p>


Joel Robinson

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

<p data-end="288" data-start="269"><strong data-end="288" data-start="269">Article summary</strong></p>

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289"><strong data-end="374" data-start="291">DVB Projects is preparing to launch its second Gold Coast apartment development</strong>, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443"><strong data-end="513" data-start="445">The 34-level tower will comprise just 49 ultra-luxury residences</strong>, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574"><strong data-end="646" data-start="576">The launch follows strong demand at DVB's nearby Sea Glass project</strong>, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718"><strong data-end="787" data-start="720">The development adds to the transformation of Old Burleigh Road</strong>, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<p data-end="1011" data-start="790"><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.</p>

<p data-end="1296" data-start="1013">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</p>

<p data-end="1296" data-start="1013"><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" /></p>

<p>The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.</p>

<p>“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;</p>

<p>“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."</p>

<p>Brown says the site itself is "exceptional."</p>

<p>"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.”</p>

<p><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." /></p>

<p>The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.</p>

<p>A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>“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.</p>

<p>“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.</p>

<p>“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.”</p>

<p><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" /></p>

<p>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.</p>

<p>With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.</p>

<p>[smartcode_project_cta:default project_id=145141]</p>


DVB Projects to launch second Broadbeach apartment tower as demolition commences

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>The mixed-use tower would comprise retail space at ground level, commercial uses on level two and apartments from level three upwards.</p>

<p>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.</p>

<p>Nine basement levels would provide 133 resident car spaces, seven motorcycle spaces and 111 bicycle spaces.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><em>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></em></p>

<p><em>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></em></p>

<p>&nbsp;</p>


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

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=7354 project_image_fid=374893]</p>

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=7354 project_image_fid=269527]</p>

<p>Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.</p>

<p>"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."</p>

<p>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.</p>

<p>"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."</p>

<p>[smartcode_project:default project_id=7354 project_image_fid=374892]</p>

<p>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.</p>

<p>Construction is underway with completion expected in mid-2027.</p>

<p>[smartcode_project_cta:default project_id=7354]</p>


Boutique Gordon townhomes now come with a BMW iX3 50

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=145590 project_image_fid=359521]</p>

<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=145590 project_image_fid=359527]</p>

<p><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.</p>

<p>"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.</p>

<p>"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.</p>

<p>"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.</p>

<p>"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."</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=145590 project_image_fid=359523]</p>

<p>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.</p>

<p>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.</p>

<p>EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.</p>

<p>WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.</p>

<p>"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.</p>

<p>"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."</p>

<p>Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>[smartcode_project_cta:default project_id=145590]</p>


Vitale breaks Byron Bay records with EADE sales flurry 

<p>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.</p>

<p>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;</p>

<p>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.</p>

<p>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.</p>

<p>Even in the low seasons of May and June, occupancy levels reach around 40 per cent.</p>

<p><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" /></p>

<p>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</p>

<p>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.</p>

<p><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" /></p>

<p>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.<span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><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" /></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span><span><span><span><span><span>​</span></span></span></span></span></span></p>

<p>The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;</p>

<p>Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.</p>

<p>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;</p>

<p>Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.</p>


Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

<html><body>
<p>Canberra has recently joined the biggest cities with strong price growth, if you can believe the numbers.</p>
<p>As is the case with all our capital cities, the level of growth in Canberra house prices depends on which research source you favour.</p>
<p>The latest figure from the Australian Bureau of Statistics records annual growth of 6.6 percent, while the Real Estate Institute of Australia says 5.1 percent. But Domain, SQM Research and CoreLogic, using their various mysterious methodologies, all have Canberra house prices (on average) rising by more than 10 percent in the past 12 months.</p>
<p>The uplift in price growth in the national capital is quite recent. Unlike Sydney three hours up the highway, Canberra has not been pumping for the past 3-4 years. It went through a period of malaise when the Federal Government downsized the public service and the market was also impacted by an oversupply of apartments.</p>
<p>Canberra has got those negative symptoms out of its system and appears to be growing again. Certainly that aligns with my analysis of sales activity, which have been elevated in the past two years.</p>
<p>But what really stands out for me is the uplift in activity and prices in New South Wales locations close to Canberra.</p>
<p>The proximity of Queanbeyan (now part of the newly-formed Queanbeyan-Palerang Regional Council area) to the nation’s capital is certainly helping local property markets.</p>
<p>The region has strong population growth, unemployment is low and new housing estates are under construction – helped by Queanbeyan’s affordability relative to Canberra, with median prices for both houses and units generally below those in the national capital.</p>
<p>Canberra prices are kept artificially high by the tight control of land releases and general dwelling supply by the ACT Government. But Queanbeyan, while closer to central Canberra than many ACT suburbs, is in NSW and has cheaper prices. Many of its suburbs have median house prices in the $400,000s while Queanbeyan, Queanbeyan East and Crestwood all have median unit prices in the $200,000s – something that’s difficult to find within the ACT.</p>
<p>Property sales activity in Queanbeyan increased in 2015 and 2016, leading it to become a standout region for growth, as identified in the Autumn edition of the Price Predictor Index published by Hotspotting.</p>
<p>Good rental yields are another attraction, with several suburbs having median yields around 5 percent for houses and 6 percent for units.</p>
<p>Goulburn, about 80km from Canberra, also benefits from being close to the national capital and having much cheaper house prices. It’s a growth market, partly because of local events, partly its proximity to Canberra and partly a Ripple Effect from Sydney’s growth market.</p>
<p>Sales activity has been rising steadily in the past 18 months and this has generated solid growth in Goulburn’s median house price (up 7% to about $350,000 in the past 12 months).</p>
<p>Goulburn (the LGA’s population is around 30,000) has long been a solid regional centre servicing the Southern Tablelands area of NSW near the ACT border.</p>
<p>Long-term, it will benefit from its location in the growth corridor linking Canberra with Sydney – with growing numbers living in affordable Goulburn and working in Canberra.</p>
<p>It would also be a key beneficiary of plans for high-speed rail links between Canberra and Sydney, if that grand plan ever happens.</p>
<p>Goulburn has more diversity to its economy than your standard regional centre, with a big wind farm industry, the presence of the NSW Police College and also the Goulburn Correctional Centre.</p>
<p>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/">hotspotting.com.au</a>. You can <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'">email him</a> or follow him on <a href="https://twitter.com/hotspotting">Twitter.</a></p>
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terryryder-YECXbqmri2

Canberra's strong price growth extends to neighbouring cities: Hotspotting's Terry Ryder

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<p>ANZ reported an interim cash profit of $3.4 billion for the half, an improvement of 23 percent - the prior year result having been hit by write-downs - but missing market expectations of a $3.5 billion result. </p>
<p>The group's net interest margin was only impacted to a very small extent by funding costs, but did decline nevertheless.</p>
<p>ANZ announced rate hikes on investor and owner-occupier loans last week, with steep increases of up to 40bps on interest-only products (but some cuts being applied to principal and interest mortgages).</p>
<p>Over the next year we can expect to see lenders forcing borrowers away from interest-only loans as I looked at in more detail here. </p>
<p>This isn't the place for a detailed review of the ANZ interim financials, but below I'll take a quick look at the home loan portfolio. </p>
<p>ANZ's 90+ day home loan delinquencies have been relatively contained to date in the Australia division, though they have tracking at somewhat higher levels than seen in recent years. </p>
<p class="p2"><a href="https://www.propertyobserver.com.au/images/2017/05/04/ANZ1.jpg" target="_blank"><span style="font-size: 12.16px;">Click to enlarge</span></a></p>
<p class="p2"><span style="font-size: 12.16px;"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/04/ANZ1.jpg" alt=""></span></p>
<p class="p3"><span style="font-size: 12.16px;">A closer look at the portfolio performance for the Australia division reveals the concerning rate of deterioration in home loans that are 90 days past due in Western Australia.</span></p>
<p class="p1"><span class="s1">Since 2013 home loans that are 90 days past due in the state have risen sharply from as close to zero as you will see across a loan book towards 1.4 per cent of home loans. </span></p>
<p class="p1"><a href="https://www.propertyobserver.com.au/images/2017/05/04/ANZ2.jpg" target="_blank"><span class="s1">Click to enlarge</span></a></p>
<p class="p1"><span class="s1"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/04/ANZ2.jpg" alt=""></span></p>
<p class="p1"><span class="s1">Queensland has typically had a higher rate of delinquency than elsewhere since severe flooding in the state in 2010-11. </span></p>
<p class="p1"><span class="s1">Now more than half a decade on the flood-related delinquencies have mostly either been impaired or resolved, but loans that are 90 days past due remain higher than elsewhere in Australia due to the very poor economic conditions in many parts of regional Queensland.</span></p>
<p class="p1"><span class="s1">Vacancy rates are also elevated in Perth and many parts of regional Western Australia and Queensland, a knock-on impact from the end of the resources construction boom.</span></p>
<p class="p1"><span class="s1">The ANZ share price took a knock from yesterday's results, dropping by 2.12 percent by the close to $32.25. </span></p>
<p class="p1"><span class="s1">Genworth Mortgage Insurance (ASX: GMA) dropped 4.19 percent to $3.20 yesterday, having been down by 7 percent in early trade. </span></p>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
<p class="p1"><span class="s1"> </span></p>
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pwargent-M4siyDbqQY

WA home loan portfolio deteriorating: Pete Wargent 

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<p>GUEST OBSERVER</p>
<p>As expected, a range of housing policy measures were introduced in the Budget, including but not limited to:</p>
<p>-National Affordable Housing Agreement providing $1.3 billion of funding per annum to the States to help meet supply targets;</p>
<p>-A $1 billion National Housing Infrastructure Facility;</p>
<p>-A new suburb for Melbourne, with 6,000 homes to be unlocked 10km from the CBD at Maribyrnong (which is not an easy thing to say late at night);</p>
<p>-Managed Investment Trusts to invest in affordable housing, with a 60 per cent capital gains tax discount to invest in this sector;</p>
<p>-Extension of homelessness funding to the States;</p>
<p>-Encouraging downsizing by allowing a non-concessional contribution to made into superannuation for the over 65s up to $300,000;</p>
<p>-First home buyers will be allowed to save for a deposit by salary sacrificing into their superannuation account, though contributions will be capped at just $30,000 per person, and $15,000 per year;</p>
<p>-A Foreign Investment Levy of at least $5,000 on all future foreign investors who fail to either occupy or lease their property for at least six months each year; and</p>
<p>-A reinstated requirement that prevents developers from selling more than 50 per cent of new developments to foreign investors.</p>
<p>There were other measures too, including increasing APRA's powers to control the non-ADI sector, zoning reform, and land release.</p>
<p>Each of these points deserves detailed market analysis in its own right, but today I'll just take a look at the least well understood new policy, which I believe will be significant. </p>
<p>Negative gearing sideswiped</p>
<p>Instead of quarantining negative gearing deductions to new dwellings as proposed by the Australian Labor Party (ALP), the Treasurer has targeted the following areas of deductions prospectively:</p>
<p>Travel expenses will now be disallowed for investment properties, which is mildly annoying for landlords with plans for investment properties at Port Douglas - there is no longer an incentive for politicians to buy an investment home in their favourite holiday destinations! - but broadly a sensible move which improves the integrity of negative gearing legislation. </p>
<p>More pertinently, for investment properties bought after 7.30pm yesterday, the Government will also limit previously generous plant and equipment depreciation deductions to only those expenses directly incurred by investors.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/05/14/NG.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/14/NG.jpg" alt=""></p>
<p>What this means</p>
<p>Firstly this is a cruel impact for the Quantity Surveyor industry, hundreds or perhaps thousands of whom will wake up today only to discover they have very little to do. These businesses will need to pivot immediately towards new and commercial properties, though competition here will be fierce.</p>
<p>As for investors, going forward landlords purchasing established property will only be able to claim plant and equipment depreciation deductions on assets they have purchased themselves, while buyers of newly constructed dwellings will still be able to make a depreciation claim on plant and equipment. </p>
<p>Landlords will still be able to claim deductions on the construction component (Division 43, for the building's structure) of the dwelling over 40 years for properties built after September 1987.</p>
<p>The ruling is evidently designed to restrict 'double-dipping' whereby multiple claimants received deductions on the residual value of the existing assets, such as air conditioning, heaters, carpets, televisions, dishwashers, alarm systems, hot water systems, and so on. </p>
<p>In practical terms, about half of deductions would typically have been claimed for plant and equipment items on established property in the first year of claim, though this really depends upon the age and type of dwelling in question.  </p>
<p>Copied below are just a few examples of Sydney properties bought about a decade ago. As you can see with plant depreciation disallowed on established properties the difference to deductions in the early years of ownership would have been quite substantial, though there is no impact of landlords already in the market.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/05/14/DEDUCT2.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/14/DEDUCT2.jpg" alt=""></p>
<p>Data compiled by MCG Quantity Surveyors showed that their average claim for depreciation deductions was $9,138, up to half of which was typically for plant and equipment deductions. </p>
<p>For new individual Mum-and Dad investors - which is most of the landlord market - this is a fairly significant change to tax legislation. </p>
<p>Market impacts</p>
<p>As always investors will try to find a way around the rules, such as by purchasing chattels off-contract, though presumably the tax office would scope out such a move through an ATO Interpretative Decision (ID) if the practice became widespread.</p>
<p>Overall, it may become more tax-efficient to purchase older style properties in order to renovate them, though for properties built before 1987 the building works component would already be fully depreciated over 40 years. </p>
<p>Somewhat ironically these changes will may create a divide between the perceived value of new and established properties in the eyes of investors, effectively creating a 'second-hand market' (which is what the Treasurer previously accused the ALP of doing with its own negative gearing proposals). </p>
<p>Some domestic investors may be inclined to steer clear of new properties for this reason, in turn hurting building approvals and dwelling starts, at least while the dust settles.  </p>
<p>Ultimately what these changes will mean is that rental returns on established property in the lowest-yielding cities of Sydney and Melbourne will have to increase in aggregate, either through higher rents or through lower prices (or, most likely, a combination of the two).</p>
<p>I'll take a look at the wider impact of the Budget next up. </p>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
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Budget takes sideswipe at negative gearing: Pete Wargent

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<p><strong>Expert Observer</strong></p>
<p>It was announced in the 2017 Budget speech that the regulator APRA will explicitly be allowed to differentiate loan controls by location.</p>
<p>This is another move signalling that politicians and regulators don't trust banks to lend responsibly, while simultaneously inferring that they know better than the market what 'should' be happening in terms of property markets and lending activity (which may be a positive thing or a very worrying development depending on your outlook!).</p>
<p>Practically speaking this means that APRA might look to restrict the flow of credit into 'hot' housing markets - basically, Sydney - while presumably steering clear of intervention in markets where prices and rents are in a multi-year freefall (such as Darwin, Gladstone, or indeed any number of of Australia's resources regions).</p>
<p>This all sounds jolly good on paper, until you think about all of the potential ramifications of regulatory intervention. There isn't the space here to go into detail on this point, but it's a concern!</p>
<p><strong>Lending finance rebounds</strong></p>
<p>The March 2017 Lending Finance figures, which strangely never seem to get any media coverage, saw total lending jump tidily from $67.6 billion to $72.9 billion in seasonally adjusted terms.</p>
<p><a href="https://1.bp.blogspot.com/-2f6hTXVdfZA/WR4AGIWCN3I/AAAAAAAAj6o/BW7FQ9Afn98N7wzbfoN5JlhkrJZtkOgQgCLcB/s640/A1.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://www.urban.com.au/images/2017/05/19/rsz_lendingfinace.png" alt=""></p>
<p>Lending to homebuyers was relatively steady in the lead-up to APRA's latest round of macroprudential curbs, while nationally there was a moderate increase in lending to property investors (classified below under commercial lending).</p>
<p>It's generally reported that lending for real estate is unproductive and risky, while lending to business is productive and a good thing. This may be true to an extent, though there are many sub-trends to take into account.</p>
<p>Overall commercial lending saw a neat increase in the month of March to be solidly higher year-on-year, even if the recent trend series is flat.</p>
<p>Renovations rose to a 6.5 year high in March 2017, as Aussies apparently shunned stamp duties and trading up for staying put and renovating instead, though looking at the numbers in their historical context the 'renovation boom' story seems a bit less enticing.</p>
<p>Splitting out commercial finance fixed loans by industry shows how lending into the mining sector has all but evaporated, declining by a further 46 per cent over the year to March. Commercial lending to the mining industry has fallen to about a quarter of the level seen at the peak as the resources construction cliff now approaches its nadir.</p>
<p>Despite this massive contraction, annual lending for construction continues to expand at a sprightly double digit pace, a trend which belies Australia's over-reliance on the residential building sector.</p>
<p><strong>Investor loans diverge</strong></p>
<p>Carving up loans to property investors by state, it's clear that Sydney investors don't believe in the apartment oversupply and have been doubling down on harbour city real estate with a vengeance.</p>
<p>Lending for investment in New South Wales surged to $6.2 billion in March - 39 per cent higher than for the same month last year - signalling a huge rebound since APRA's first round of macroprudential restrictions.</p>
<p>There was also something of an increase in investor lending in Victoria which will warrant careful observation.</p>
<p><a href="https://4.bp.blogspot.com/-FvHnxzfoySg/WR4AGTk0z8I/AAAAAAAAj6s/fAgDQzINy_seIhISKqHG962BVPuXvel_ACLcB/s640/A3.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://www.urban.com.au/images/2017/05/19/rsz_investorloansbystate.png" alt=""></p>
<p>The massive divergence in fortunes across the states in the prevailing low interest rate environment is ultimately what led to APRA's new powers to target lending in specific neighbourhoods.</p>
<p>While Sydney property has been burning up, property investor loan volumes in the Northern Territory have collapsed to their lowest level in 11 years as prices and rents in Darwin continue to fall.</p>
<p><strong>The wrap</strong></p>
<p>Overall, it was a stronger month for lending finance in aggregate, with a sizeable lift in commercial finance.</p>
<p>The housing market figures pre-date APRA's announcement at the end of the month of March that new restraints would be applied to interest-only lending.</p>
<p>What the figures do show is the massive divergence in investor sentiment between the resources states and Sydney, and, to a lesser extent, Melbourne.</p>
<p>If this continues APRA may be called upon to use its new powers sooner rather than later.</p>
<p><em>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>.</em></p>
<p><em>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>.</em></p>
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APRA may deploy its 'special powers': Pete Wargent

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<p>There’s mounting activity in and around real estate in Hobart and, according to media, it’s a sudden explosion.</p>
<p>A Domain report says there’s an “unprecedented” surge in activity from international developers “who are now ditching the mainland in favour of Hobart”. </p>
<p>It reports a big increase in hotels planned for the city’s tourism industry – and in developers actively seeking sites for residential development.</p>
<p>Chief executive of Knight Frank Tasmania, Scott Newton, reports big demand for Hobart development sites, which is also described as “unprecedented”.</p>
<p>“Hobart has generally lagged the national market but we’re certainly seeing change unfold and there’s been a catch-up take place,” he says. </p>
<p>I’m not surprised at the interest in the Hobart market – and it’s not sudden and it’s certainly not unprecedented. Hobart and Tasmania have been making a strong case for attention from investors of all kinds for a couple of years now.</p>
<p>Hobart has become a serious national player in the overall residential property scene, with its appealing mix of the lowest prices, tightest vacancies and highest rental yields in capital city Australia, underpinned by a greatly improved state economy.</p>
<p>Both SQM Research and CoreLogic have published recent data showing that annual price growth is strongest in Melbourne, followed by Canberra, with Hobart now challenging the leaders.</p>
<p>CoreLogic has Sydney now ranked third on price growth with Hobart fourth, while SQM rates Hobart as third best on capital growth and Sydney fourth.<span style="font-size: 12.16px;"> </span></p>
<p>Vacancy rates remain tight or moderate in all of the state and territory capital cities except Perth, but Hobart has maintained its status as the tightest rental market.<span style="font-size: 12.16px;"> </span></p>
<p>Both Domain and SQM Research record vacancies below 2% in Hobart, Canberra, Melbourne and Adelaide. Both sources have Sydney hovering around 2%, with Brisbane and Darwin both around 3%.</p>
<p>“Available rental accommodation in Hobart and Canberra remains scarce, with the lowest house vacancy rates of all the capitals at just 0.5% and 0.8% respectively,” says Domain chief economist Andrew Wilson.<span style="font-size: 12.16px;"> </span></p>
<p>Here’s the key thing: none of this should surprise anyone who’s been paying attention. The rise of the Hobart market to national prominence has been entirely predictable and has been unfolding steadily throughout 2016 and 2017.</p>
<p>Here’s what I wrote on Property Observer 18 months ago, in February 2016: “For six months or more, I’ve been getting blank stares or responses like “Seriously?” whenever I suggest to investors they should be considering Hobart.</p>
<p>“It’s really easy to get a bad reputation and extremely hard to lose it. Tasmania has the image of a basket base economy. A state that’s losing population. A property market bereft of growth.<span style="font-size: 12.16px;"> </span></p>
<p>“For many years, all of that has been true. It’s true no longer.  But most people won’t be convinced until they read there’s a boom on. And by then it will be too late to buy well.</p>
<p>“Perhaps it is already. According to the latest House Price Report from Domain, Hobart median prices rose 8.7% for houses and 7.1% for apartments in 2015. The apartment result is the second best among the capital cities, after Sydney.”<span style="font-size: 12.16px;"> </span></p>
<p>That was February last year. Eighteen months later it’s certainly too late to get the best of the buying, with some research showing that the nation’s hottest suburbs, in terms of “Time On Market”, are all in Hobart.<span style="font-size: 12.16px;"> </span></p>
<p>This is confirmed by reports from industry professionals at the coalface, who report that houses are selling as fast as they’re listed.<span style="font-size: 12.16px;"> </span></p>
<p>There were two core factors that prompted that prediction about Hobart prices at the beginning of last year: the steady rise in sales activity and the improvement in the state economy.</p>
<p>At that time, numerous reports were recording the improvement in the Tasmanian economy including the NAB business survey, a Deloitte Access Economics Business Outlook report and CommSec’s State of the States report.</p>
<p>But the bigger pointer for me was the research Hotspotting goes on sales volumes. Changes in sales activity are always a precursor to price movements, both up and down. Hotspotting analyses sales volumes patterns for every town and suburb in Australia every quarter – and that process forecast the price rises that are now occurring in the Hobart market.</p>
<p>In February 2016 I wrote:  “Cheap real estate, a market with rising momentum, underpinned by a strongly moving economy - it’s a package worth considering.’</p>
<p>Those who followed that advice would have bought well ahead of the price rises and done well – and will do better, because there’s more to come.</p>
<p>Buyers can still get into the Hobart market and achieve capital growth, but the best time to be there was 18 months ago.</p>
<p class="p1"><span class="s1">Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/"><span class="s2">hotspotting.com.au</span></a>. You can <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'"><span class="s2">email him</span></a> or follow him on <a href="https://twitter.com/hotspotting"><span class="s2">Twitter.</span></a></span></p>
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Hobart has become a serious national player in the residential property scene

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<div>It seems that Melbournites are not waiting to buy land...they are opting buy land and wait.<br><br>At least for now.<br><br>Melbourne has accelerated to record monstrous population growth in recent years, while the regions of Victoria have largely flatlined ex-Geelong.<br><br>You can make your own assessment of whether high population growth is impacting the Melbourne housing market, but the land sales figures look pretty damning. </div>
<div> </div>
<div>The pressure appears to be starting to tell, as vacant land sales are being gobbled up at the fastest pace ever recorded, according to Oliver Hume's quarterly data.</div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/08/24/A1.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/08/24/A1.jpg" alt=""></div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Model of a modern Valuer-General</span></strong></div>
<div> </div>
<div>Rising land values have been a key input into rising house prices in Melbourne.</div>
<div> </div>
<div>Median vacant land prices in metropolitan Melbourne increased by +3.7 per cent in calendar year 2016, according to the Valuer-General, rising from $219,000 to $227,000.</div>
<div> </div>
<div>Median house prices in metro Melbourne rose for a fourth consecutive calendar year from $600,000 in 2015 to $635,000 in 2016.</div>
<div> </div>
<div>Median unit values increased far more steadily over the year, up from $487,000 to $494,000.</div>
<p> </p>
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<div>The ratio of land prices to house prices on this data series hasn't changed a great deal over more than three decades, to some extent reflecting what is actually being measured, with the vacant land sales often located in fringe or secondary locations.</div>
<div> </div>
<div>Perhaps this is the subject for a longer blog post another time, but the Valuer-General report always cautions about too many generalisation being drawn from the headline numbers. </div>
<div> </div>
<div>House and land prices in regional Victoria have lagged Melbourne substantially over the past 10 years to 2016, at least in aggregate.</div>
<div> </div>
<div>Metro Melbourne median house prices have now more than doubled over the past dozen years, and have quadrupled since 1998. </div>
<div> </div>
<div>In 2016, regional house prices rose by +2.6 per cent to $320,000.</div>
<div> </div>
<div>This represents an increase of $100,000 or +45 per cent over 10 years, before accounting for stamp duty and repairs, maintenance, and other holding costs. </div>
<p> </p>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
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Melbourne land sales figures look pretty damning

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<p>There are several possible risks facing Australia's housing markets: a change in sentiment leading people to stop buying homes, the crackdown on investor lending, rising interest rates, and a glut of new homes to be absorbed. </p>
<p>I heard Tapas Strickland of NAB note that he just can't see a meaningful housing correction coming looking at the fundamentals, and on today's evidence he will be proven right.</p>
<p>A couple of dozen lenders have dropped their mortgage rates since July 1 to entice homebuyers back into the market, and even by the end of July this was clearly working. </p>
<p>Not only have homebuyers not shunned the market, they are coming back in droves, with the number of owner-occupier commitments excluding refinancing surging 4.5 per cent higher in July, with the trend result rising to the highest level since the financial crisis stimulus. </p>
<div id="post-body-3188059144906675382" class="post-body entry-content">
<div class="separator"><a href="https://www.propertyobserver.com.au/images/2017/09/13/A6.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/13/A6.jpg" alt=""></div>
<br><div>Loans for the purchase of established dwellings jumped 5 per cent in July, and average loan sizes are gently trending to new highs too. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/09/13/A2.jpg" target="_blank">Click to enlarge</a></div>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/13/A2.jpg" alt=""><br><div class="separator"> </div>
<div> </div>
<div>As a result, owner-occupier commitments rose to a record high in July 2017, helping to offset a 7-month decline in investor loans, with total monthly housing finance still tracking at around $33 billion. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/09/13/A1.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/13/A1.jpg" alt=""></div>
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<div>First homebuyer incentives are also back in play from July 2017 forth, and the number of first homebuyer loans immediately rose to the highest level in 44 months.</div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/09/13/A3.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/13/A3.jpg" alt=""></div>
<br><div>The number of first homebuyer loans in New South Wales jumped to the highest level since 2012, while in Victoria the figure hit the highest level since 2013, consistently reflected in rocketing auction results in markets such as Geelong. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/09/13/A7.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/13/A7.jpg" alt=""></div>
<div> </div>
<div>In fact, my state level analysis, not posted here, shows that homebuyers in Victoria are by far the most ebullient of all states and territories, with new loan activity in New South Wales also rising.</div>
<div> </div>
<div>Finally, as for the glut of new stock, there was upbeat news here too, with the number of homebuyers financing new dwellings accelerating to the highest level in 38 years. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/09/13/A5.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/13/A5.jpg" alt=""></div>
<br><div>New home sales are trending down, suggesting that the rate of construction will fall over the next few years, but on this evidence homebuyers will gladly mop up the new stock as it's released to the market (on the flip side, taxes will slow buyers from offshore investors, while domestic investors are finding it harder to access credit). </div>
<div> </div>
<div>A lot of people seem frustrated by this, but the housing juggernaut does not conform to ideologies, and for now it continues to power on. </div>
</div>
<h3 class="post-title entry-title"><a href="https://petewargent.blogspot.com.au/2017/09/home-loans-back-in-favour"> </a></h3>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a>.</span></p>
<h3 class="post-title entry-title"><a href="https://petewargent.blogspot.com.au/2017/09/home-loans-back-in-favour"></a></h3>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
<h3 class="post-title entry-title"><a href="https://petewargent.blogspot.com.au/2017/09/home-loans-back-in-favour"></a></h3>
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Home loans back in favour: Pete Wargent

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<p>GUEST OBSERVER</p>
<p>The CoreLogic Stratified Hedonic Index breaks the market into three segments: the most affordable 25% of properties, the middle 50% and the most expensive 25%.</p>
<p>The data shows over the past year the most expensive quarter of the market has recorded the greatest value growth.</p>
<p>Over the 12 months to August 2017, the most affordable 25% of residential properties nationally have recorded value growth of 2.9% compared to growth of 8.0% across the middle 50% of suburbs and 11.4% growth across the 25% of most expensive suburbs. </p>
<p>The national chart highlights that across all market segments the annual rate of value change has started to slow over recent months.  Importantly, the chart also highlights that when there have been housing market downturns it has typically been the most expensive properties that have been hardest hit while more affordable dwellings have been more resilient to downturns. </p>
<h3 class="text-align-center">Annual change in dwelling values across market segments, National</h3>
<p>Click to enlarge</p>
<p><img src="https://www.urban.com.au/images/2017/09/14/2017-09-11-image1.png" alt=""></p>
<p>Over the period shown, August 1987 to August 2017, the thirty year period has seen values across the most affordable 25% of properties rise 1,517% compared to increases of 580% across the middle 50% of suburbs and 432% across the most expensive 25% of suburbs.  This highlights how affordability has deteriorated substantially at the more affordable end of the housing market.</p>
<p>The second chart shows the change in values across the three broad segments throughout the combined capital cities.  Over the 12 months to August 2017, the most affordable 25% of properties have recorded growth of 4.6% compared to 9.3% growth across the middle 50% of properties and a 12.2% change across the most expensive 25% of the market.  Like the national figures, in the event of a housing market downturn it has been the more expensive housing which has tended to see the greater value falls.</p>
<h3 class="text-align-center">Annual change in dwelling values across market segments,<br>Combined Capital Cities</h3>
<p>Click to enlarge</p>
<p><img src="https://www.urban.com.au/images/2017/09/14/2017-09-11-image2.png" alt=""></p>
<p>The third chart looks at the growth performance across regional housing markets where the change in values has been much more moderate over recent years than that across the capital cities. </p>
<p>The 25% of most affordable properties in regional Australia have recorded value increases of 2.5% compared to a 4.6% change across the middle 50% and an 8.4% increase in the most expensive 25% of properties. </p>
<p>Over recent years, growth in the affordable segment in regional Australia has been the strongest performed suggesting that demand has been for more affordable housing. </p>
<p>However, as the regional markets have picked-up over the past couple of years, it has been the top 25% of suburbs that have outperformed. </p>
<p>This is likely to indicate demand for luxury housing outside of the capital cities has risen.</p>
<h3 class="text-align-center">Annual change in dwelling values across market segments,<br>Combined Regional Markets</h3>
<p>Click to enlarge</p>
<p><img src="https://www.urban.com.au/images/2017/09/14/2017-09-1-image3.png" alt=""></p>
<p>The final chart shows the annual change in dwelling values across the three market segments throughout the capital cities.  Melbourne and Darwin are the only capital cities that have recorded the greatest change in values over the year across the most affordable suburbs and the slowest growth across the most expensive suburbs. </p>
<p>In all other capital cities, either the middle 50% of suburbs or the top 25% of suburbs have recorded the fastest rate of value growth over the year.  In Melbourne, this is possibly due to the fact that Sydney and Melbourne are the strongest economies in the country and are jockeying to attract talent.  Melbourne has a significant competitive advantage over Sydney in terms of being able to offer more affordable housing and the data seems to suggest that lower priced housing is a big driver which has led to a surge in values across the lower and also middle segments of the market. </p>
<h3 class="text-align-center">Annual change in dwelling values across market segments,<br>individual capital cities, to Aug-17</h3>
<p>Click to enlarge</p>
<p><img src="https://www.urban.com.au/images/2017/09/14/2017-09-11-image4.png" alt=""></p>
<p>The stratified hedonic index offers another interesting look into the performance of the national housing market looking at how different segments are performing.  If the current housing market slowdown continues and turns into declines, watch for whether the most affordable sector of the market is relatively stronger performed than the more expensive segment.  With record high levels of household debt and significant first home buyer incentives over recent years the trends in a future downturn could be different to what has been seen in the past.</p>
<p><span>Cameron Kusher is research analyst for CoreLogic. You can contact him </span><a href="https://blog.corelogic.com.au/about/" target="_blank">here</a><span>.</span></p>
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ckusher-ujnxiKuFQs

Premium housing values rise fastest over past year

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<p>GUEST OBSERVER</p>
<p>CoreLogic’s Accumulation Index looks at the total returns from the housing asset class factoring in the change in the value of the dwelling and the gross rental return from the property.</p>
<p>The CoreLogic Accumulation Index shows that nationally, the total returns from the housing asset class over the 12 months to August 2017 were 13.2%.  Because the return is calculated from value change as well as the gross rental yield, you tend to find that houses have a superior value growth performance while units offer superior rental returns.  </p>
<p>Over the past year, total returns for houses nationally have been recorded at 13.5% compared to a 12.0% return for units.  Over the 10 years to August 2017, the annual total returns for housing nationally have been recorded at 8.8%, split between 8.9% for houses and 8.5% for units.</p>
<h3 class="text-align-center">Annual total returns from the housing asset class, National</h3>
<p>Click to enlarge</p>
<p><img src="https://www.urban.com.au/images/2017/09/20/2017-09-18-image1.png" alt=""></p>
<p>Total housing returns have generally been superior in capital cities to regional markets however, in the 2008 and 2010-11 downturns, returns slumped by a greater magnitude in the capital cities.  Over the past decade, combined capital city annual total returns have been recorded at 9.3% with returns of 9.5% for houses and 9.0% for units.  Over the 12 months to August 2017, total returns have been recorded at 14.0% for houses and 12.3% for units.  Like the national chart, the recent data for the combined capital cities shows that total returns have started to slow.</p>
<h3 class="text-align-center">Annual total returns from the housing asset class, combined capital cities</h3>
<p>Click to enlarge</p>
<p><img src="https://www.urban.com.au/images/2017/09/20/2017-09-18-image2.png" alt=""></p>
<p>Regional markets are also beginning to see total returns slow however, the returns over recent years have generally not been as strong as those across the combined capital cities.  Over the past 12 months, total returns have been recorded at 11.7% for houses and 10.2% for units.  Over the past decade, annual total returns for housing outside of the capital cities have been recorded at 7.0%, 7.2% for houses and 5.6% for units.</p>
<h3 class="text-align-center">Annual total returns from the housing asset class, combined regional markets</h3>
<p>Click to enlarge</p>
<p><img src="https://www.urban.com.au/images/2017/09/20/2017-09-18-image3.png" alt=""></p>
<p>Hobart has recorded the strongest annual growth of all capital cities over the past year and it also has some of the highest rental yields which has meant it has had the strongest total returns.  Total returns for houses over the past year have been above 10% in each of Sydney, Melbourne, Adelaide, Hobart and Canberra.  For units, double-digit total returns have been achieved over the past year in each of Sydney, Melbourne and Hobart.  Units in Darwin were the only capital city property type to achieve negative returns over the past year.</p>
<h3 class="text-align-center">Annual total returns from the housing asset class, individual capital cities, to Aug-17</h3>
<p>Click to enlarge</p>
<p><img src="https://www.urban.com.au/images/2017/09/20/2017-09-18-image4.png" alt=""></p>
<p>With capital growth now appearing to have peaked and rental yields at record lows it is reasonable to expect a further moderating of total returns over the coming months.  </p>
<p>The other important thing to consider when looking at total returns is the calculation of the rental income.  Although rents are increasing in many areas, the assumption in a gross rental yield calculation is that the property is occupied for 52 weeks of the year.  In some parts of the country this is increasingly difficult to achieve and it can eat into the investment returns.</p>
<p>The total returns data, particularly for the past decade, shows why housing investment has been so popular and hit record highs.  </p>
<p>Returns have been fairly consistent and less volatile than equities however, the ongoing strength and the evidence of a recent slowdown should give investors pause for thought.  </p>
<p>With mortgage rates starting to increase for investors, record-high levels of new housing supply and value growth slowing, housing investors shouldn’t assume that the types of returns seen over recent years will continue to be replicated going forward.</p>
<p><span>Cameron Kusher is research analyst for CoreLogic. You can contact him </span><a href="https://blog.corelogic.com.au/about/" target="_blank">here</a><span>.</span></p>
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Total returns from housing are starting to ease: Cameron Kusher

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<p>Four times per year we get the unbridled pleasure of the official residential property price indexes.</p>
<div>Here, then, is a 60-second overview of the June 2017 quarter figures. </div>
<div> </div>
<div>The total value of Australia's dwelling stock rose by +$631 billion or +10.4 per cent to $6.72 trillion in the 2017 financial year. </div>
<div> </div>
<div>That now represents a +53 per cent increase in dwelling stock value from the $4.4 trillion recorded at the end of 2011. </div>
<div> </div>
<div>I'd take the data series back further, but since it only begins in Q3 of that calendar year, I can't.</div>
<p><a href="https://www.propertyobserver.com.au/images/2017/09/21/A1.jpg" target="_blank">Click to enlarge</a></p>
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<div> </div>
<div>The annual stock value gains were mainly driven by the two most populous states. New South Wales (+$336 billion) and Victoria (+$215 billion) accounted for some 87 per cent of the total increase. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/09/21/Aus%20Dwelling%20Stock.jpg" target="_blank">Click to enlarge</a></div>
<div>
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</div>
<div class="separator"> </div>
<div>Detached houses have outperformed attached dwellings on average since 2003, reflecting rising land values and a relative scarcity of this dwelling type in the thriving, landlocked suburbs of Sydney and Melbourne.</div>
<p><a href="https://www.propertyobserver.com.au/images/2017/09/21/A3.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/21/A3.jpg" alt=""></div>
<div class="separator"> </div>
<div>Over the June 2017 quarter the attached dwellings index performed strongly, however, helped along by the +11.7 per cent year-on-year gain for attached dwellings in Sydney (with the harbour city retaining a healthy weighting for that dwelling type). </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">City by city</span></strong></div>
<div> </div>
<div>There were strong quarterly residential price index gains in June 2017 for Sydney (+2.3 per cent) and Melbourne (+3 per cent), with those two capital cities recording a twin +13.8 per cent annual increase. </div>
<div> </div>
<div>The Reserve Bank of Australia noted in its September Board Minutes released today that Sydney market conditions had eased in recent months, as reflected in softer auction clearance results and various other timelier measures. </div>
<div> </div>
<div>Annual price growth in Hobart notched up a pacy +12.4 per cent - with more to come later in the year - while there was steadier price growth in Canberra, Adelaide, and Brisbane. </div>
<div> </div>
<div>Perth and Darwin recorded further declines, but the pace of decline has slowed, and more timely measures suggest that conditions appear to be levelling out somewhat in these resources capitals. </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/09/21/Resi%20Price.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/21/Resi%20Price.jpg" alt=""></p>
<p> </p>
<div>The mean dwelling price in Australia increased by $51,700 or +8.2 per cent in FY2017, to hit a record high of $679,100.</div>
<div> </div>
<div>In New South Wales, the mean dwelling price rose to $903,700, possibly helped along by the sale of Sydney's most expensive house in the second quarter of the calendar year (the 'Elaine' estate in Point Piper, which transacted for a lazy $75 million or so - punchy). </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/09/21/A4.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/21/A4.jpg" alt=""></div>
<div class="separator"> </div>
<div>Finally, the number of dwellings increased by +2 per cent or +190,500 over the financial year to 9,906,100.<br><br>That's now well ahead of the rate of the official population growth, as the supply response hits its straps. </div>
<div> </div>
<div>There was a substantial increase of +2.35 per cent in Queensland's dwelling stock in FY2017, or +45,500 additional dwellings, reflecting the high volume of apartment completions in inner city Brisbane and elsewhere. The state population probably gr<span>ew by <span>~</span>75,000 over th</span>e same period. </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/09/21/A5.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/21/A5.jpg" alt=""></div>
<p> </p>
<div>In absolute terms there was a robust uplift in the total dwelling stock of New South Wales (+50,900) and Victoria (+53,500), although in Victoria's case even this record rate of new dwelling construction is not keeping up with rollicking population growth.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div> </div>
<div>As always, the interesting stuff is in the detail, but the overview shows that Melbourne's housing market was still powering along in the second quarter of 2017, while Hobart will glide into top gear in the latter half of the calendar year. </div>
<div> </div>
<div>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
</div>
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