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


Joel Robinson

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

<p>Apartment developers in the Gold Coast are finding new, creative ways to differentiate themselves from competing projects, as new supply starts to flow through up and down the Coast.</p>

<p>Developer Big Projects brought in the renowned Sydney-based design studio YSG to craft the interiors for The Frederick, Big Projects' new Mermaid Beach project and YSG's first move into the multi-residential development space.</p>

<p>[smartcode_project:default project_id=110588 project_image_fid=5346]</p>

<p>It was a strategic move for Big Projects to bring in a Sydney eye to the development.</p>

<p>“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of Big Projects.</p>

<p>“We wanted YSG Studio to capture the essence of Nobby’s, to design a building that embraces life, light and connection, while creating a genuine sense of place.”</p>

<p>There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;</p>

<p>[smartcode_project:default project_id=110588 project_image_fid=5347]</p>

<p>Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."</p>

<p>“Nobby’s has such an iconic energy, it’s one of those rare pockets of the Gold Coast where the community, the beach, and the streets all feel connected,” Ghoniem says.</p>

<p>"Responding to the neighbouring coastline, soothing curves add a relaxing regional overlay, while unique detailing really sets it apart. It’s a place that feels lived in from the moment you step inside.”</p>

<p data-end="236" data-start="64">A standout feature of The Frederick is its rooftop terrace, an uncommon inclusion for a boutique, low-rise building, where amenity is typically concentrated at ground level.</p>

<p>[smartcode_project:default project_id=110588 project_image_fid=5360]</p>

<p data-end="523" data-start="308">Positioned to capture panoramic views from the hinterland to the ocean, the rooftop has been designed as a series of intimate zones. It includes a pool, sauna, sun decks, workspaces and dedicated entertaining areas.</p>

<p data-end="670" data-start="525">“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.</p>

<p data-end="760" data-start="672">Architecture for the project was led by Plus Architecture, with landscape design by LDG.</p>

<p data-end="951" data-start="762">SRQ Projects Director Nick Clydsdale, who is handling sales at The Frederick, says the majority of enquiry is coming from South East QLD and Victorian buyers who have been actively searching between Broadbeach and Mermaid Beach for some time.</p>

<p data-end="951" data-start="762">"They’ve reviewed a number of projects, however this one has stood out for its design flair/ appeal,"&nbsp;Clydsdale says.</p>

<p data-end="951" data-start="762">Site demolition is slated for this month, with construction commencing soon after. Big Projects is targeting a late 2027 completion.</p>

<p>[smartcode_project_cta:default project_id=110588]</p>


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

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


ALTA Property to deliver $200 million Queens Road apartment tower

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


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

<p data-end="150" data-start="66">A rare new apartment development has been proposed on the fringe of St Ives Village.</p>

<p data-end="370" data-start="152">Developer Newquest Property has lodged plans for a low-rise apartment project designed by well-regarded architecture firm Warren &amp; Mahoney, which is best known for its work in the multi-residential sector in Melbourne.</p>

<p data-end="370" data-start="152">The building, proposed for a 1,916 sqm site on <a href="https://www.apartments.com.au/new-apartments/st-ives-residences-3-5-memorial-avenue-nsw-2075">Memorial Avenue</a> opposite St Ives Village Green, has been designed to blend into the surrounding natural environment.</p>

<p data-end="370" data-start="152"><img alt="St Ives" data-entity-type="file" data-entity-uuid="5c1c7437-2fba-4345-a6d7-05321714ad3e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-04%20at%201.28.46%E2%80%AFPM.png?VersionId=KrYyMaJvNqR7vbx0xbB3Ef8sJ6FuHpmn" /></p>

<p data-end="745" data-start="537">“Drawing inspiration from the pale trunks and flowering canopies of the scribbly gums and blue gums prevalent in the area, a considered material palette was developed,” the architectural design report states.</p>

<p data-end="912" data-start="747">“This palette references the established materiality of the suburb while elevating it through refined finishes to achieve a more luxurious architectural expression.”</p>

<p data-end="1185" data-start="914">Of the 33 apartments proposed, 21 will be three-bedroom residences. The remaining mix includes nine two-bedroom apartments, one one-bedroom apartment and two four-bedroom residences. The development will be supported by 62 car parking spaces and 33 secure bicycle spaces.</p>

<p data-end="1270" data-start="1187">The proposal would replace two single-storey brick buildings currently on the site.</p>

<p data-end="1270" data-start="1187"><img alt="St Ives" data-entity-type="file" data-entity-uuid="21422eaf-09a9-4439-9278-b9bd9daf22a1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-04%20at%201.38.10%E2%80%AFPM.png?VersionId=v.fXSgcUcEscvOZzqcjG5nk3gVqk_Amt" /></p>

<p data-end="1467" data-start="1272">St Ives remains a relatively untapped market for new apartment development. North Shore developer WINIM has a number of projects in the area, while INCA is nearing completion of Ellis Residences.</p>

<p data-end="1635" data-start="1469">More recently, Traders In Purple has lodged plans for one of the denser projects proposed in the suburb, a 75-apartment development on a 5,900 sqm site on Cowan Road.</p>

<p data-end="1635" data-start="1469">NewQuest, a construction, design and development firm, has delivered over 24 projects across commercial, residential, industrial, and lad markets.&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


First look: NewQuest Property proposes new St Ives apartment development

<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

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<p>Featuring the nation’s only rooftop skystand overlooking a major sports stadium, a new residential development in Woolloongabba has begun marketing.</p>
<p>Adjacent to Brisbane’s Gabba stadium, the Silk One project will boast a rooftop terrace 20 stories high, providing residents views of the ground.</p>
<p>The development is just 300 metres from the planned Woolloongabba Cross River Rail train station, 350 metres from Woolloongabba Busway and within two kilometres of major lifestyle and entertainment developments including Queens Wharf, Howard Smith Wharves and Dexus Waterfront,</p>
<p>"Silk One will combine lifestyle, access and amenity" suggests the developer.</p>
<p>Sarazin managing director Darren Dougan said the developer chose the Woolloongabba site, as it’s in prime position to take advantage of a changing Brisbane market.</p>
<p>“Contrary to the gloom portrayed by oversupply a couple of years ago, the proof is in the data - Brisbane’s off the plan prices are flat, not falling, and are forecasted to grow,” Mr Dougan said.</p>
<p>“Queensland’s interstate migration is the nation’s highest , the affordability gap between 1 Brisbane and Sydney is now at 66 per cent plus the jobs market is surging - with 130,000 2 net new jobs within the past year ,” he said.</p>
<p>CBRE Brisbane Managing Director Paul Barratt confirmed the confidence in Brisbane’s inner-city residential apartment market, “Brisbane not only offers premium value at attainable prices, but with the market due for a natural correction - the Queensland capital is ahead of its southern counterpart when it comes to long-term financial return.”</p>
<p>“Smart money follows infrastructure, and Brisbane’s infrastructure is at an all time high, in fact, there is over $12 billion in projects planned or under construction in the CBD alone,” he said.</p>
<p>The project will deliver 178 residencies comprising a mix of one, two and three bedroom open plan apartments with prices starting from $369,000 (including one car park).</p>
<p>Strategically designed to maximise the birds-eye views of the Gabba stadium, the unique Silk One skystand rooftop will offer an outdoor dining and BBQ space, resort-style pool, gym and spa as well as a big screen TV near the bar to ensure not a minute of the action is missed.</p>
<p>For those wanting to enjoy Brisbane’s glorious weather privately, each of the varying orientations benefit from deep balconies all northerly facing apartments on level eight and above benefit from stunning city skyline views.</p>
<p>Registrations and expressions of interest are now <a href="https://www.realestate.com.au/property-apartment-qld-woolloongabba-128459410" target="_blank">open</a> ahead of the global launch on 23 June 2018</p>
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j.ballantyne1990-6AQqhLzZaK

Australian first Skystand provides new views for Brisbane apartment buyers

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<div class="cq-article-content-paras section">
<p>The DomaCom fractional property investing platform has moved to expand into the rural property sector.</p>
</div>
<div class="cq-article-content-paras section">
<p>DomaCom's initial investment under its partnership with Cultivate Farms is Springview Eco Farm at Big Creek near Wagga Wagga.</p>
</div>
<div class="cq-article-content-media section">It is a 65 hectare <a href="https://domacom.com.au/public-crowdfunding-campaigns/rural-properties/next-generation-farmers/" target="_blank">pig farm</a>.</div>
<div class="cq-article-content-media section"> </div>
<div>The ASX-listed company recently secured a partnership with rural start-up, Cultivate Farms.</div>
<div class="cq-article-content-media section">
<div>
<p>Under the arrangement, Cultivate Farms will source appropriate properties from farmers looking to retire and match these to aspiring or next generation farmers.</p>
<p>DomaCom will provide the investment capital through its crowdfunding platform.</p>
<p>The AFL great and farming sector advocate Kevin Sheedy has come on board as ambassador.</p>
<p>“We need to encourage the next generation to stay on the land and build a future for our country," Kevin Sheedy said.</p>
<p>"Through crowdfunding all Australians can now invest into farming families and regional Australia’s future.</p>
<p>Some of the footy’s greatest players grew up kicking a Sherrin on the dairy farms, market gardens and sheep farms out the back of nowhere.</p>
<p>"I struggle to see where the next generation of farmers, and therefore, AFL players will come from if it is financially impossible to own a farm.”</p>
<p>"The idea behind this project is to enable young farming families to get their foot on a property they can farm commercially, while at the same time enabling a retiring farmer to sell down or sell out in order to retire," said Warren Gibson, sales and marketing manager at DomaCom.</p>
</div>
<p>"We are 50 per cent to closing our first property and through our partner, Sam Marwood of Cultivate Farms, have another 19 in the pipeline," he told The Australian Financial Review.</p>
<div class="cq-article-content-paras section">
<p>Each farm will be held in a separate DomaCom sub-fund with investors receiving a share of the rent.</p>
<p>They can also benefit from any capital growth through the trading of units in the fund or when the property is eventually sold and the fund wound up.</p>
<p>Funds typically have a five-year term and a targeted gross return of 5 per cent. The minimum investment is $2500.</p>
<p>Springview Eco-Farm, located in the Eastern Riverina area of southern NSW, a 2.5 hour drive from Canberra, is run by vendor, Pennie Scott, who will retain some equity via the DomaCom property sub-fund units.</p>
<p>The farm has an indicative value of $800,000 with a target amount of $400,000 being raised.<br>Its indicative capital growth is tipped as 6%* p.a. with a targeted rental return of 5%* p.a.</p>
<p>As DomaCom will be the landlord for Springview EcoFarm, a property manager will be appointed to manage the property including collecting the rent and future tenancy if or when required. </p>
<p>The gross rent is targeted to be around 5% which should result in an approximate income return of 4% to investors after the 0.88% management fee, plus capital growth.</p>
<p>DomaCom is Australia's leading property crowdfunder. It allows anyone to invest a little or a lot in to property investment. </p>
<p>They recently crowndfunded the first mortgage backed loan for a residential property in Melbourne.</p>
</div>
</div>
<p> </p>
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jrobinson-rf4aSBido9

DomaCom hire AFL legend Kevin Sheedy as ambassador for farm project

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<p>Bellevue Hill ranks as the priciest suburb with its median rent for houses at $1,875 a week.</p>
<p>The Rock in Sydney was the dearest location for apartment rentals, according to CoreLogic.</p>
<p>Sydney took all the top 10 suburbs in both lists.</p>
<p>There is a <a href="https://www.realestate.com.au/property-house-nsw-bellevue+hill-422769938" target="_blank">$3800 a week rental currently on offer</a> in Bellevue Hill at Latimer Road (above).</p>
<p>Houses                                                                    </p>
<p>NSW Bellevue Hill Woollahra $5,316,587 $1,875   </p>
<p>NSW Northbridge Willoughby $3,811,426 $1,800    </p>
<p>NSW Vaucluse Woollahra $5,471,853 $1,795                </p>
<p>NSW Clovelly Randwick $3,160,606 $1,750                 </p>
<p>NSW Double Bay Woollahra $3,994,114 $1,735            </p>
<p>NSW Rose Bay Woollahra $3,696,415 $1,700              </p>
<p>NSW Dover Heights Waverley $4,133,440 $1,675         </p>
<p>NSW Mosman Mosman $4,041,599 $1,650                  </p>
<p>NSW Balgowlah Heights Manly $2,934,921 $1,573       </p>
<p>NSW Potts Point Sydney $5,866,920 $1,525               </p>
<p> </p>
<p>Units</p>
<p>NSW The Rocks Sydney $2,025,499 $1,050</p>
<p>NSW Tamarama Waverley $1,564,541 $920</p>
<p>NSW Huntleys Cove Hunters Hill $1,370,826 $900</p>
<p>NSW Millers Point Sydney $1,810,199 $875</p>
<p>NSW Darling Point Woollahra $2,292,686 $848</p>
<p>NSW Haymarket Sydney $994,160 $828</p>
<p>NSW Milsons Point North Sydney $1,620,837 $800</p>
<p>NSW Cremorne Point North Sydney $1,439,944 $795</p>
<p>NSW Double Bay Woollahra $1,360,699 $770</p>
<p>NSW Pyrmont Sydney $1,153,278 $770</p>
<p> </p>
<p> </p>
<p> </p>
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Pricey Bellevue Hill ranks as Australia's dearest rental suburb

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<div>And that, sadly, is that.</div>
<div> </div>
<div>Australia's auto production industry is no more. </div>
<div> </div>
<div>The Federal Chamber of Automotive Industries (FCAI) monthly figures recorded the production of one solitary vehicle in November. </div>
<div> </div>
<div>As recently as 2013 it was common to see 15,000-20,000 vehicles per month rolling off production lines.</div>
<div> </div>
<div>However, the persistently strong Aussie dollar and high cost of manufacturing in Australia ultimately proved to be an obstacle too far.  </div>
<p> </p>
<div class="separator"><a href="https://1.bp.blogspot.com/-KB8rLk_emuA/Wk_vB3kA82I/AAAAAAAAn0c/FeEKoG8c4_Y6mVuNjBMxdo0xHEA_P55EQCLcBGAs/s1600/B1.jpg"><img src="https://1.bp.blogspot.com/-KB8rLk_emuA/Wk_vB3kA82I/AAAAAAAAn0c/FeEKoG8c4_Y6mVuNjBMxdo0xHEA_P55EQCLcBGAs/s640/B1.jpg" width="640" height="390" data-original-height="812" data-original-width="1326"></a></div>
<div> </div>
<div>The Department of Employment <a href="http://petewargent.blogspot.co.uk/2017/11/the-car-in-front-is-import" target="_blank">projected</a> that the factory closures at Elizabeth in Adelaide (Holden) and Altona in Melbourne (Toyota) could cost 27,500 jobs over the years ahead.</div>
<div> </div>
<div>Many in the industry have been employed for more than two decades.<br><br>And consider how the world has changed since that time - there was no LinkedIn of Facebook back then, for example, and job applications were submitted on paper.</div>
<div> </div>
<div>While the full impact on supply chains is as yet unknown, and despite some better industry readings of late, the manufacturing industry remains in a structural decline, with total employment <a href="http://petewargent.blogspot.co.uk/2017/12/a-thousand-new-jobs-per-day" target="_blank">falling again in 2017</a>. </div>
<div><span> </span></div>
<div><span>I took a look at <a href="http://petewargent.blogspot.co.uk/2017/12/growth-hacking" target="_blank">here</a> at where future growth will come from instead.</span></div>
<div><span> </span></div>
<div><span><span>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and </span><a href="https://petewargent.blogspot.com/" target="_blank">blogger</a><span>.</span></span></div>
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pwargent-M4siyDbqQY

Growth after Australia's auto production industry is no more: Pete Wargent

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<p>Fractional property investment company DomaCom has been approved by Trustee Partners for the inclusion of the DomaCom Fund as an investment option for their retail Superannuation Fund.</p>
<p>Trustee Partners currently offer 33 domestic and global managed funds managed by 17 leading fund managers. DomaCom will join this list to provide access to Australian residential, commercial and farmland property delivering further diversification.</p>
<p>DomaCom CEO Arthur Naoumidis said accessing retail super is another significant first for DomaCom, further broadening their potential in the retail space.</p>
<p>"Most advisers have a significant proportion of their clients in retail super who have not been able to access the DomaCom Fund until now," he said.</p>
<p>“DomaCom has the ability to pave the way for creating thematic investment funds to give investors earnings potential in otherwise difficult to access assets such as residential property and farmland. For those interested in investments with impact we can also offer affordable housing, energy and other socially responsible investments”.</p>
<p>Andrew Peterson, CEO of Trustee Partners, says it is a unique offering for financial advisers and their clients.</p>
<p>“Financial Advisers can now create their own white labelled retail super offerings that include direct property using the DomaCom solution and Trustee Partners."</p>
<p>To read more about DomaCom <a href="https://domacom.com.au/" target="_blank">click here.</a></p>
<p> </p>
<p> </p>
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DomaCom approved for retail super investment

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<div id="post-body-2358659028075496425" class="post-body entry-content">
<div>As usual vacancy rates were higher in the month of December at 2.5 per cent or 80,092 vacancies.</div>
<div> </div>
<div>Despite the record high level of building, vacancies were considerably lower than a year earlier, when there were 89,721 vacancies according to SQM Research figures.<br><br>The year-on-year decrease reflects a combination of strong population growth and a very high volume of higher-density apartments still under construction, there being a lag in the completion of this dwelling type. </div>
<div> </div>
<div>Hobart has a record low vacancy rate for any capital city of an extremely tight 0.3 per cent, while Canberra (1.3 per cent) and Adelaide (1.5 per cent) remain tight rental markets. </div>
<div> </div>
<div>Asking rents have increased strongly in Hobart and Canberra accordingly over 2017. </div>
<div> </div>
<div>Perth and Darwin also seem to have turned a corner, with vacancy rates well down from a year earlier, while Melbourne's 2.1 per cent vacancy rate was also well down from 2.4 per cent in December 2016.</div>
<div> </div>
<div>This downtrend wasn't the case everywhere however, with Sydney recording a multi-year high reading of 2.6 per cent in December, up from 2.3 per cent last year. </div>
<div> </div>
<div>The numbers can jag around a bit, but smoothing the figures on a 6mMA basis gives a sense of the relative condition of the rental market in each city and the prevailing trends. </div>
<br><div class="separator"><a href="https://3.bp.blogspot.com/-Piajs6T7H5I/Wl4_t1_nSNI/AAAAAAAAn8U/fmBZ8lYfqc4ko5vIMpvkfWOC5PMiqLASwCLcBGAs/s1600/SQM1.jpg" target="_blank"><img src="https://3.bp.blogspot.com/-Piajs6T7H5I/Wl4_t1_nSNI/AAAAAAAAn8U/fmBZ8lYfqc4ko5vIMpvkfWOC5PMiqLASwCLcBGAs/s640/SQM1.jpg" width="640" height="376" data-original-height="818" data-original-width="1385"></a></div>
<br><div>At the end of the 2017 financial year, New South Wales had a record 64,470 attached dwellings under construction, with the overdue flood of completions doubtless accounting for the jump in December. </div>
<div> </div>
<div>Population growth in Sydney nevertheless remains strong, so it will be interesting to see how the market fares in 2018.</div>
<div> </div>
<div>On that note, the latest building activity figures are due out today, and these will shed further light on completions and the pipeline remaining under construction. </div>
<div> </div>
<div class="separator"><a href="https://3.bp.blogspot.com/-UvrQILlqT8k/Wl5CUZV9A5I/AAAAAAAAn8g/urEYDDEt-ugkqXs6HFmF2TIgKJ5GRZfQQCLcBGAs/s1600/sydney-opera-house-354376_1920.jpg" target="_blank"><img src="https://3.bp.blogspot.com/-UvrQILlqT8k/Wl5CUZV9A5I/AAAAAAAAn8g/urEYDDEt-ugkqXs6HFmF2TIgKJ5GRZfQQCLcBGAs/s640/sydney-opera-house-354376_1920.jpg" width="640" height="426" data-original-height="1068" data-original-width="1600"></a></div>
<div> </div>
</div>
<div class="post-footer"> <span>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and </span><a href="https://petewargent.blogspot.com/" target="_blank">blogger</a><span>.</span>
</div>
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Rental vacancies down in 2017; but not everywhere: Pete Wargent

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<p class="p1"><span class="s1">Putting your faith in published data on prices is one of the great perils facing property investors around Australia.</span> </p>
<p class="p1"><span class="s1">Anyone who bases a major investment decision on something they read about the pricing levels in a particular location and how much they are growing (or falling) may end up with a serious miscalculation.</span></p>
<p class="p1"><span class="s1">It’s possible to access three sources for price information on a particular location and get three different results – one suggesting prices are rising, another claiming they’re stagnating and a third declaring that values are falling.</span></p>
<p class="p2">Here’s an example: a couple of days ago, I was writing a report and did a Google search on the median house price for Alice Springs in the Northern Territory.</p>
<p class="p1"><span class="s1">The search engine brought up results from multiple sources.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">Here are three of those outcomes:<span class="Apple-converted-space"> </span></span> </p>
<ol class="ol1">
<li class="li1"><span class="s1">According to Your Investment Property magazine, quoting CoreLogic data, the median house price was $299,950, up 5.7% in the past 12 months.</span></li>
<li class="li1"><span class="s1">According to realestateinvestar.com.au, the median house price for Alice Springs was $469,000, unchanged from a year earlier; and<span class="Apple-converted-space"> </span></span></li>
<li class="li1"><span class="s1">According to homesales.com.au, the median house price for Alice Springs was $1,109,913, down 1.7% on a year earlier.<span class="Apple-converted-space"> </span></span></li>
</ol>
<p class="p1"><span class="s1">So the median price was either $300,000 or $469,000 or $1.1 million, depending on which source you chose to believe. And prices in Alice Springs were either down a little, unchanged or up moderately, depending on your source.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">If this was an isolated example, there wouldn’t be a problem. But the experience of finding contradictory information on pricing is common.</span> </p>
<p class="p1"><span class="s1">For the January edition of my monthly newsletter The Ryder Report, I compared price growth for apartments in the major cities, taking figures from three major sources.</span></p>
<p class="p5"><span class="s1">Firstly, the figures demonstrate (yet again) that we don’t have a single property market in this country. We have many different markets, which currently are delivering contrasting results. And secondly, there are big differences in growth rates from one source to the next.</span></p>
<p class="p5"><span class="s1">Hobart is the clear market leader: all three sources have the Tasmanian capital leading on annual growth in the median apartment price, but there are big variations in the claimed rate of growth, ranging from 9% to 18%.</span></p>
<p class="p5"><span class="s1">Melbourne ranks second with two sources, but again there is quite a divergence in terms of the published annual growth rate in median prices. The ABS has apartment prices in Melbourne up 4% but CoreLogic has double the growth rate (a little over 8%) while SQM’s growth rate (13%) is three times higher than the ABS rate.</span></p>
<p class="p5"><span class="s1">There is broad agreement that the Brisbane unit market is rather mediocre, but SQM record no change in prices, while ABS has prices down a little while CoreLogic has prices declining, but at three times the ABS rate of decrease.</span></p>
<p class="p1"><span class="s1">It’s hard to know from these figures where the Canberra market is at: the three growth figures are 1.8%, 2.1% and 10%. Two sources suggest a quiet market while the third depict a strong rising market.</span> </p>
<p class="p1"><span class="s1">Unit prices in Adelaide? CoreLogic suggests little change, SQM suggests a 2% annual rise and the ABS has prices up 6%.</span> </p>
<p class="p1"><span class="s1">CoreLogic data suggests prices have stopped falling in Perth but both the ABS and SQM record an annual decline of about 6%.</span> </p>
<p class="p1"><span class="s1">So, what do we make of that? My conclusion is: it’s all dodgy data, to a certain degree.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s1">All information about median prices and how much they’ve risen or fallen is rubbery figures to some extent, with the discrepancies and contradictions partly explained by different methodologies and varying definitions about various elements, such as how do you classify townhouses and where do the boundaries sit for a city like Melbourne.</span></p>
<p class="p5"><span class="s2">But think about it. The Sydney metro area has over 700 suburbs and what’s happening in the Northern Beaches is somewhat different to the situation in Penrith, while Bondi has few similarities with Campbelltown.<span class="Apple-converted-space"> </span></span></p>
<p class="p5"><span class="s2">Yet a research company will try to distil all the sales activity in the past 12 months down to a single growth figure, declaring that Sydney prices are growing … well, the rate of growth depends very much on the source.</span></p>
<p class="p7"><span class="s1">Media treats them as fact, despite these kinds of discrepancies, which are common. And bases sweeping interpretations on individual figures from a single source.</span></p>
<p class="p8"> </p>
<p class="p5"><span class="s1">T<em>erry Ryder is the founder of hotspotting.com.au</em></span></p>
<p class="p1"><span class="s3"><a href="https://mailto:ryder@hotspotting.com.au"><em>ryder@hotspotting.com.au</em></a></span></p>
<p class="p9"><span class="s1"><em>twitter.com/hotspotting</em></span></p>
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terryryder-YECXbqmri2

Investors struggle through the stats for price direction across Australia

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<div>One of the easier trades you'll ever come across, with inflation missing market expectations yet gain.<br><br>Money for jam, here.<br><br>Rate hikes never were on the cards any time soon - as well documented here often enough - but that's even more obvious now with inflation missing (yet again!).<br><br>
</div>
<div>Both of the core measures came in at just +0.4 per cent for the December quarter.</div>
<div> </div>
<div>While underlying inflation rate ticked up to +1.9 per cent, the 6-month annualised pace is incredibly weak at just +1.6 per cent.<br><br>Inflation has now missed the 2-3 per cent target on the downside for 9 consecutive quarters, and the pulse looks to have weakened again. </div>
<p> </p>
<div><img src="https://1.bp.blogspot.com/-XlzLIPRQpu4/WnEZzIZqnVI/AAAAAAAAoJU/rzj9H0OJ5NUP_8uwQveXyc47vGd8NtzuQCLcBGAs/s640/A1.jpg" width="640" height="388" data-original-height="826" data-original-width="1359"></div>
<p><br>Tradables prices picked up a bit in the December quarter, but were negative over the year.<br><br></p>
<div><img src="https://4.bp.blogspot.com/-Kxw_kvG6T8g/WnEZzNT9e7I/AAAAAAAAoJQ/v0T7c3gZZmc6pjln-mpGi6LhcMFX1ryUACLcBGAs/s640/A3.jpg" width="640" height="392" data-original-height="826" data-original-width="1346"></div>
<div> </div>
<div>The headline result of +0.6 per cent for the quarter and +1.9 per cent for the year was pumped by a jump in fuel and fruit prices (someone needs to look up whether avocados and capsicums are fruits or vegetables, I have no idea). </div>
<div> </div>
<div>Overall, though, this was once again very weak underlying inflation, though importantly the result was not under the Reserve Bank's forecast for the end of the year.</div>
<div> </div>
<div>So that basically means that interest rates will be left on hold for a record length of time, barring a shock of some kind.</div>
<div> </div>
<div>Rents off the mat</div>
<div> </div>
<div>Rents began to rise moderately again in 2017, mainly thanks to Sydney (+2.4 per cent).</div>
<div> </div>
<div>Rents were negative in the December quarter in Brisbane, while in Perth rents are some 16 per cent below their peak. </div>
<p> </p>
<div><img src="https://3.bp.blogspot.com/-J1Hs5n8pTqQ/WnEZzEsmQuI/AAAAAAAAoJY/eC-Oyr-Y9sAcEVWZFcCAcaZ0rol-BOElQCLcBGAs/s640/A2.jpg" width="640" height="374" data-original-height="818" data-original-width="1398"></div>
<p><br>Sydney rents (+52 per cent) have doubled the of inflation (+27 per cent) over the past decade.</p>
<p> </p>
<div><img src="https://1.bp.blogspot.com/-h8w2l0xyyCI/WnEZzng4KmI/AAAAAAAAoJc/fbvJr9MBycYnJXjOM2wyCEImtv1Gv0T_QCLcBGAs/s640/A4.jpg" width="640" height="374" data-original-height="828" data-original-width="1411"></div>
<p> </p>
<div>The wrap</div>
<div> </div>
<div>The Reserve Bank's models already seemed to suggest that underlying inflation wouldn't get back to the mid-point of the target range at 2.5 per cent for years to come (possibly about 4 years!). </div>
<div> </div>
<div>And now this result has missed market expectations too, for the fifth consecutive quarter. </div>
<div> </div>
<div>The main takeaway is all the talk of imminent rate hikes was little more than wishful thinking.<br><br>Indeed, given the Reserve Bank's stated mandate, logically either the next move in rates should be down or the economy should returning to full employment.<br><br>Either way, there was little to fear in these numbers for mortgagees and housing market fanatics.</div>
<div> </div>
<div>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</div>
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Talk of imminent rate hikes was little more than wishful thinking: Pete Wargent

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<p class="p1"><span class="s1">When investors are looking for good places to buy, consistency is a quality worth seeking. And the factor where consistency matters the most is in sales activity.</span></p>
<p class="p1"><span class="s1">Some markets deliver steady levels of home sales, regardless of the booms or busts going on around them.</span></p>
<p class="p1"><span class="s1">In each quarterly edition of The Price Predictor Index published by Hotspotting, we have spotlight the consistency markets – and we nominate a location as a nation’s most consistent market.</span></p>
<p class="p1"><span class="s1">We have a strong focus on consistency markets because these are solid places for both home-buyers and investors.</span></p>
<p class="p1"><span class="s1">The places we call the consistency markets sit in the middle of the spectrum, between the growth regions and the declining ones.</span></p>
<p class="p1"><span class="s1">These are locations which record a consistent rate of sale, quarter after quarter, regardless of external events.<span class="Apple-converted-space">  </span>They represent safety for investors.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s2">And while they are often not boom markets, places with this high level of even performance usually produce solid price growth over time.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s2">They’re the housing market’s version of the “slow and steady wins the race” story.</span></p>
<p class="p1"><span class="s2">In our new Summer edition of The Price Predictor Index, our award for the nation’s outstanding consistency market goes to Ulladulla in the Shoalhaven LGA in regional New South Wales.</span></p>
<p class="p1"><span class="s2">It has sold between 43 and 58 homes in each of the past 13 quarters. Few locations in the country achieve that level of steadiness.</span></p>
<p class="p1"><span class="s2">Ulladulla has a median house price of $510,000, after a 15 percent rise in the past 12 months.</span></p>
<p class="p1"><span class="s2">To further illustrate the kind of growth that can happen in these steady performers, the winner in our Spring 2017 edition - Echuca in Victoria - had a 7 percent annual rise, while in the Winter 2017 edition our “most consistent market” - Sunbury<span class="Apple-converted-space">  </span>on the northern fringe of Melbourne - had a 10.4 percent annual increase.<span class="Apple-converted-space"> </span></span></p>
<p class="p1"><span class="s2">Generally in this report we look for locations where sales activity is rising, as these places are likely to deliver price growth. But the figures presented here for Ulladulla, Echuca and Sunbury show that steady market performers can achieve solid price growth as well.</span></p>
<p class="p1"><span class="s2">As it’s not just short-term growth. Lalor Park in Sydney’s western suburbs, another noted consistency performer, has a long-term growth average (average annual growth in median house prices over 10 years) of 10 percent for year.</span></p>
<p class="p1"><span class="s2">Greystanes in Sydney, which consistently sells 70-75 houses per quarter, averages 8.5 percent a year in median price growth.</span></p>
<p class="p1"><span class="s2">Camp Hill, a suburb of Brisbane, has been averaging 7 percent per year.</span></p>
<p class="p1"><span class="s2">Caroline Springs, a very steady sales market in western Melbourne, has averaged 7 percent per year. Frankston, which is both consistent and prolific in south-eastern Melbourne, has averaged 8 percent.</span></p>
<p class="p1"><span class="s2">Some investors chase boom markets, seeking exponential short-term growth, and often end up with disappointing results.</span></p>
<p class="p1"><span class="s2">There’s a lot to be said for the steady performers, which provide both safety and good long-term capital growth.</span></p>
<p class="p1"><span class="s2">Very often, the tortoise out-performs the hare.</span> </p>
<p class="p1"><span class="s1">T<em>erry Ryder is the founder of hotspotting.com.au</em></span></p>
<p class="p3"><span class="s3"><a href="https://mailto:ryder@hotspotting.com.au"><em>ryder@hotspotting.com.au</em></a></span></p>
<p class="p4"><a href="https://twitter.com/hotspotting" target="_blank"><span class="s1"><em>twitter.com/hotspotting</em></span></a></p>
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Lalor Park price growth highlights importance of consistency for investors

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<p>A housing affordability report has found WA is the most affordable state in the country for tenants and home-buyers. Only the two Territories - the ACT and Northern Territory - are more affordable.</p>
<p>It’s one piece of a multi-faceted equation which equals recovery in the Perth property market.</p>
<p>While media continues to obsess over Sydney and has extrapolated the wind-down in its market into a national downturn, other scenarios are playing out in different parts of this complex nation.</p>
<p>Perth has been running counter-cyclical to Sydney for the past five or six years and this continues. In 2012, when Perth prices were rising strongly, Sydney was doing very little; as Sydney got on its growth path from 2013 onwards, Perth was heading into reverse; and now, as Sydney runs out of steam, Perth is recovering and moving forward.</p>
<p>Improved affordability after four years of price decline is one of the factors giving Perth momentum.</p>
<p>The Real Estate Institute of Australia and Adelaide Bank, in their latest Housing Affordability Report, have found that affordability in WA’s housing and rental markets has improved markedly.</p>
<p>According to the report, the proportion of income required for tenants to pay their rent had decreased from 19.2% in late 2016 to 17.4% in late 2017.</p>
<p>For those looking to buy their first home, the proportion of income required to meet home loan repayments decreased from 23.8% in 2016 to 22.4% in 2017.</p>
<p>The result reflects the decline in property values and rentals in Perth and other parts of WA in recent years, exacerbated by the end of the resources investment boom, which pushed up residential vacancies.</p>
<p>But the Perth property market generally ended 2017 on a positive note, with December Quarter data from the REIWA showing improvements in median prices, sales activity, listing levels and average selling days.</p>
<p>Supporting that is Domain figures for the December Quarter, which show small quarterly rises in the median prices for both houses and apartments, although the annual figures are still a little negative.</p>
<p>In addition, the latest SQM Research figures show small monthly rises although, again, the annual data is still in the negative.</p>
<p>All this is making Perth “the land of opportunity” and it’s the main reason I’m heading to Perth to do a seminar presentation on 15 March.</p>
<p>REIWA president Hayden Groves says it bodes well for Perth that all key indicators improved over the latest quarter.</p>
<p>“The Perth market found its floor and stabilised in the back half of 2017,” he says. “We now appear to be entering a recovery phase, though REIWA remains cautious about expectations of rapid growth in the next 12 months.”</p>
<p class="smallsubheader">Perth’s preliminary median house price increased 1.2% to $516,000 in the December Quarter - but once all sales have settled, REIWA expects the final December Quarter median to lift to $520,000, which would be a notable rise on the September Quarter median of $510,000.</p>
<p class="smallsubheader">Perth’s median unit price is $405,000 for the December Quarter which is a 1.3% increase on the September Quarter.</p>
<p class="smallsubheader">There were 4,946 dwelling sales in Perth in the December quarter. Groves says this figure is expected to lift to 6,700 once all sales have settled, putting it significantly above the September Quarter sales figure.</p>
<p class="smallsubheader">“Traditionally, the September Quarter outperforms the December Quarter, but that wasn’t the case in 2017. The December Quarter is on track to record 14% more sales than September,” Groves says.</p>
<p>The primary reason for the revival in the Perth property market is the recent improvement in the state economy.</p>
<p>Further confirmation of WA’s revival comes from Reserve Bank governor Philip Lowe, who says the state economy has “turned the corner”.</p>
<p>Lowe says while the national economy is gaining strength, WA is not being left behind, with signs of a lift in mining investment through the State.</p>
<p>“We’re starting to see more self-sustaining investment growth in WA in the mining sector and that’s picking up conditions in Perth,” Lowe says. “It’s not a boom again but there’s more sustainable investment going on and that’s helping the WA economy.”</p>
<p>Outside the mining sector, Lowe cites the lift in public infrastructure projects as one of the reasons the economy is improving.</p>
<p> </p>
<p>T<em>erry Ryder is the founder of hotspotting.com.au</em></p>
<p><a href="https://mailto:ryder@hotspotting.com.au"><em>ryder@hotspotting.com.au</em></a></p>
<p class="Body"><em>twitter.com/hotspotting</em></p>
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