<p>Design-led developer-builder Lowe Living has unveiled its latest residential development, Jardin House, marking its first foray into Melbourne's blue-chip City of Boroondara.</p>

<p>Located a short walk from Camberwell Junction, <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House</a> has been designed to appeal to affluent local downsizers and established families seeking a low-maintenance alternative to the large homes that have long defined Camberwell and surrounding suburbs.</p>

<p>The project will comprise a collection of two and three-bedroom apartments ranging from 92 sqm to 280 sqm, alongside a limited number of penthouse residences featuring rooftop terraces spanning more than 100 sqm, with optional private pools.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=146717 project_image_fid=372212]</p>

<p>Lowe Living Co-Founder and Managing Director Tim Lowe said Camberwell represented a natural next step for the developer as it expands into some of Melbourne's most tightly held residential markets.</p>

<p>"Jardin House is an important project for our team as it marks the next evolution of our portfolio into different well-established blue-chip pockets of Melbourne," Lowe said.</p>

<p>"Camberwell, with its incredible walkability, family-led neighbourhood feel and superb access to education and transport, makes it a natural choice for us."</p>

<p>[smartcode_project:default project_id=146717 project_image_fid=372227]</p>

<p>Designed by Tristan Wong Architects, with interiors by Hecker Guthrie and landscaping by Acre, the development takes inspiration from the Art Deco architecture that remains a defining feature of many of Camberwell's established streets.</p>

<p>A curved facade, arched openings, textured brickwork and sculpted forms reference the suburb's architectural heritage, while extensive landscaping softens the building's presence and creates a strong connection to the surrounding tree-lined streetscape.</p>

<p>The project will be set behind a secure gated entrance, with residents arriving through landscaped gardens designed to create a transition between the public realm and private residences.</p>

<p>Inside, the residences feature natural stone and timber finishes, full-height glazing, Miele appliances and generous open-plan living areas designed for long-term owner occupation.</p>

<p>[smartcode_project:default project_id=146717 project_image_fid=372225]</p>

<p>While the apartments themselves have been designed to attract discerning owner-occupiers, it is the amenity offering that sets Jardin House apart from many other boutique projects currently launching across Melbourne.</p>

<p>The centrepiece is a 350 sqm private bathhouse curated in partnership with Aurora Spa &amp; Bathhouse founder Lyndall Mitchell.</p>

<p>The wellness precinct includes mineral pools, hydrotherapy experiences, a Himalayan salt room, sauna, steam room, cold plunge pools and dedicated relaxation spaces, creating what Lowe Living describes as a private wellness retreat exclusively for residents.</p>

<p>[smartcode_project:default project_id=146717 project_image_fid=372222]</p>

<p>The collaboration follows Lowe Living's recent partnership with Aurora at Maison Savoy in Brighton, although Jardin House is the first project to incorporate both indoor and outdoor wellness experiences.</p>

<p>Emma Lowe, Co-Founder and Managing Director of Lowe Living, said wellness was becoming an increasingly important consideration for apartment buyers.</p>

<p>"Collaborating with Lyndall Mitchell from Aurora Spa &amp; Bathhouse for a second time is an intentional nod to creating residences that are more than just homes, but a way to enrich the lives of our residents through wellness and longevity," Lowe said.</p>

<p>The amenity offering is complemented by a Technogym fitness studio, residents' lounge, private dining spaces and concierge services.</p>

<p>The launch comes as developers increasingly target Melbourne's established eastern suburbs, where rising land values, ageing housing stock and growing downsizer demand are creating opportunities for boutique apartment projects.</p>

<p>Lowe said the company expects significant generational wealth transfer across suburbs such as Camberwell in coming years, creating further demand for luxury apartment living.</p>

<p>"Camberwell is a blue-chip suburb where homes regularly transact for multiple millions of dollars," he said.</p>

<p>"The generational change of wealth in these locations expected in the coming years is significant, so we see an opportunity to create exclusive residences that appeal to older families and downsizers in order to meet this demand."</p>

<p>Apartments at Jardin house start from $1,195,000. The project forms part of Lowe Living's near-$1 billion portfolio of new developments across Melbourne.</p>

<p>[smartcode_project_cta:default project_id=146717]</p>


Joel Robinson

Lowe Living launches Jardin House in Camberwell

<p>As <a href="https://www.apartments.com.au/developments/north-sydney-nsw-2060">North Sydney</a> continues its transition from a commercial centre into a more layered residential and lifestyle precinct, a new generation of apartment developments is reshaping expectations around scale, amenity, and long-term liveability.</p>

<p>Improved transport connections through the Victoria Cross Metro, continued investment in dining and public spaces, and a constrained supply of new luxury apartments have sharpened demand for homes that combine proximity to the CBD with the privacy and outlook traditionally associated with harbourside houses.</p>

<p>At 177 Walker Street, <a href="https://www.apartments.com.au/developers/aland">ALAND</a>’s new apartment development <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-177-walker-street-north-sydney-nsw-2060">The Walden</a> enters the market with a distinctly residential approach to high-rise living. The 30-level tower will deliver 161 residences, ranging from one-bedroom apartments through to sub-penthouses and a full-floor penthouse, all oriented to capture uninterrupted views across Sydney Harbour, the Opera House, and out toward the Pacific Ocean.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6395]</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project takes advantage of the site’s natural topography and elevated position above the harbour. Rather than relying on density alone, the architecture focuses on outlook, orientation, and spatial flow, with every apartment occupying a corner position to maximise natural light and cross ventilation.</p>

<p>Rothelowman says the site itself shaped much of the architectural response.</p>

<p>“The site has a long history in terms of its inevitable transformation and when we came in, we took inspiration from the idea of reestablishing a sense of the site’s natural terrain and fall. Our scheme aims to integrate with the terrain and the landscape, using the undulating site to slowly reveal glimpses and views of the harbour. The rotation of the tower off grid means every apartment has a view and is naturally cross ventilated. The building's colour palette is quintessentially Sydney, with bronze and sandstone and a luminescent green colour in the glass, making it very earthy and grounded in its location.”</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6399]</p>

<p>Inside the residences, the emphasis moves toward larger-format living typically associated with standalone homes. Kitchens sit at the centre of the apartments, connecting directly to open-plan dining and living areas before extending outward into expansive winter gardens and balconies. Calacatta marble, bespoke joinery, integrated appliances, and custom metal detailing are used throughout, while three distinct interior palettes, Terrace, Opera, and Harbour, allow buyers to personalise the spaces without compromising the architectural consistency of the project.</p>

<p>The larger residences place particular attention on separation between entertaining and private zones. In many apartments, master suites occupy the outer corners of the floorplates, allowing bedrooms to benefit from floor-to-ceiling glazing and harbour outlooks independent of the living spaces. Dressing rooms and ensuites continue the material palette through fluted detailing, freestanding baths, and layered stone finishes.</p>

<p>Rothelowman says the design intent centred on creating homes that feel enduring rather than transient.</p>

<p>“Our philosophy is all about the way people live in these spaces, and we wanted to create homes that reflect the quality of life in this unique Sydney location. The apartments showcase expansive living spaces that are generous, sophisticated, and bold, with the ability to connect with views throughout each apartment.”</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=353235]</p>

<p>A separate four-storey amenity building known as The Pavilion expands the residential offering beyond the apartments themselves. Positioned alongside the tower, the building consolidates wellness, recreation, and social spaces into a dedicated resident retreat. Facilities include a 20-metre rooftop pool and sundeck, sauna, spa, ice bath, wellness studio, gymnasium, concierge service, wine cellar, residents’ lounge, private dining spaces, and dedicated co-working areas with meeting rooms and boardroom facilities.</p>

<p>The amenity mix reflects the buyer profile emerging in North Sydney, where owner-occupiers and downsizers are increasingly prioritising convenience, apartment scale, and long-term usability over purely investment-driven decisions.</p>

<p>The Walden also represents a significant milestone for ALAND, marking the company’s first major move into Sydney’s inner-city luxury apartment market after more than two decades delivering large-scale residential communities across Greater Sydney. Founder Andrew Hrsto says the Walker Street site stood apart because of both its positioning and its rarity.</p>

<p>[smartcode_project:default project_id=134323 project_image_fid=6390]</p>

<p>“As a company, we had been searching for a site in one of Sydney’s blue-chip locations, spanning the Eastern Suburbs, the Sydney CBD and the North Shore, and when we had the opportunity to purchase this site, we immediately recognised that it could be something iconic.”</p>

<p>At launch, The Walden recorded more than $103 million in sales, with buyers drawn to the project’s harbour positioning, apartment scale, and proximity to the Metro, which now connects North Sydney to Barangaroo in three minutes and Martin Place in five.</p>

<p>ALAND has commenced construction, and is expecting a completion date in 2028.</p>

<p>[smartcode_project_cta:default project_id=134323]</p>


The Walden pairs house-scale living with North Sydney connectivity

<p>The ACT will become the first jurisdiction in Australia to abolish stamp duty for all first home buyers, with no income caps and no property price thresholds from 1 July.</p>

<p>The move, announced as part of the ACT Budget, completes a key election commitment from the Barr Government and removes what Chief Minister Andrew Barr described as one of the biggest barriers to entering the housing market. The reform forms part of the ACT's long-running transition away from transaction taxes and towards a broader-based property tax system.</p>

<p>"This budget marks a major milestone in our long-term tax reform program," Barr said, adding that the government had maintained a sustained focus on removing barriers to home ownership. He said stamp duty had long been one of the largest upfront hurdles facing buyers and that from July, "that barrier is gone" for first home buyers in the Territory.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=350986]</p>

<p>The changes come alongside a range of measures designed to encourage new housing supply, including support for the delivery of so-called "missing middle" housing such as terraces, townhouses and low-rise multi-unit developments.</p>

<p>The announcement has renewed debate around whether the ACT's approach could provide a blueprint for improving housing affordability nationally.</p>

<p>New research from OurTop10.com.au, conducted by Primara Research, suggests the Territory's decade-long reform agenda has produced outcomes unmatched elsewhere in Australia.</p>

<p>While stamp duty costs have increased by an average 67 per cent nationally over the past decade, the ACT has recorded growth of just 15 per cent, the lowest increase of any jurisdiction.</p>

<p>The Territory has also emerged as one of the strongest performers on housing delivery. Based on population-weighted housing targets, the ACT is sitting less than one per cent behind its target. Victoria is the next closest at seven per cent behind, while the national average sits 25 per cent below target. New South Wales is tracking 39 per cent behind.</p>

<p>The latest reform removes one of the final barriers facing first home buyers in Canberra.</p>

<p>[smartcode_project:default project_id=139989 project_image_fid=359152]</p>

<p>The average Australian home buyer currently pays $61,714 in stamp duty. In the ACT, that figure is $38,399 despite the Territory having the third-highest median house price in the country.</p>

<p>Until now, the ACT's first home buyer concession scheme only applied to purchases up to $1.02 million, around $51,000 below Canberra's median house price of $1.071 million. In practical terms, many first home buyers were unable to access the median-priced home without losing the concession.</p>

<p>From July, those restrictions disappear.</p>

<p>Every first home buyer in the ACT will pay no stamp duty, regardless of income or purchase price.</p>

<p>Canberra remains one of Australia's most expensive housing markets, with dwelling values increasing 82 per cent over the past decade. However, that growth ranks only 11th among Australia's 15 major housing markets, suggesting affordability pressures have been less severe than in many other parts of the country.</p>

<p>Simon Ma, CEO of OurTop10.com.au, said the latest reforms recognise that many first home buyers have simply outgrown thresholds set years ago.</p>

<p>"Many first home buyers aren't just looking for a way onto the ladder, they want a home their family can actually live in," Ma said.</p>

<p>"In a market where the median house price is over a million dollars, a concession scheme that cuts out at $1.02 million was never going to get them there.</p>

<p>"Removing the ceiling entirely means ACT first home buyers can now pursue the home they actually want, rather than limiting themselves to a price point designed for a very different market."</p>

<p>Whether other states follow remains to be seen. But at a time when most jurisdictions are struggling to improve affordability while also increasing housing supply, the ACT has quietly become the national test case for both.</p>


15% stamp duty growth. Just 1% off the national housing target. Zero stamp duty for FHBs. Is the ACT the blueprint for the great Australian dream?

ACT abolishes stamp duty for first home buyers

<p>A rooftop pool and spa overlooking the Brisbane CBD, private dining spaces, expansive landscaped gardens and a residents' lounge are set to crown <a href="https://www.apartments.com.au/new-apartments/callista-on-park-west-end-49-mollison-street-west-end-qld-4101">Callista on Park</a>, the final residential building within Brisbane's West Village precinct.</p>

<p>The rooftop amenity collection has been designed as an extension of the lifestyle already established throughout West Village, providing residents with a series of indoor and outdoor spaces that capitalise on the building's elevated position above West End.</p>

<p>A swimming pool and heated spa form the centrepiece of the rooftop offering, surrounded by landscaped gardens developed through a collaboration between developer Sekisui House and ASPECT Studios. The design incorporates expansive lawn areas surrounded by English garden-inspired planting.</p>

<p>[smartcode_project:default project_id=134800 project_image_fid=370648]</p>

<p>Residents will also have access to two barbecue and outdoor dining areas positioned to take advantage of views across Brisbane's skyline, neighbouring Mollison Park, and the surrounding inner-city landscape.</p>

<p>For larger gatherings, the rooftop includes a private dining room centred around a substantial stone island bench, complete with a full kitchen and a 10-seat dining table set beneath four-metre-high ceilings. The space has been designed to overlook both the rooftop gardens and the Brisbane CBD skyline.</p>

<p>A separate residents' lounge provides an additional indoor retreat connected to the broader rooftop amenity offering, creating another space for residents to work, relax or entertain guests.</p>

<p>[smartcode_project:default project_id=134800 project_image_fid=370647]</p>

<p>The attention to detail extends beyond the rooftop.</p>

<p>Upon arrival, residents will enter through a lobby featuring a bespoke ceiling light installation developed in collaboration between Sekisui House and Alcorn Middleton Architecture. The arrival experience is complemented by private resident mailboxes and carefully considered interior finishes designed to reflect the premium positioning of the building.</p>

<p>[smartcode_project:default project_id=134800 project_image_fid=372541]</p>

<p>The amenity offering forms part of Callista on Park, the final residential release within the decade-long transformation of the former Peters Ice Cream Factory site into West Village, one of Brisbane's most established mixed-use communities.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> and being delivered by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a>, Callista represents the most premium residential offering within the masterplanned precinct.</p>

<p>Construction is now entering its final stages, with scaffolding beginning to come down and completion expected in the first quarter of 2027.</p>

<p>Prices for the three-bedroom plus MPR apartments start from just over $2.6 million.</p>

<p>[smartcode_project:default project_id=134800 project_image_fid=351535]</p>

<p>Callista will mark the final opportunity to purchase within West Village, where residents have direct access to more than 35 retail, dining, wellness and medical operators including Harris Farm Markets, Woolworths, Function Well and Goodlife Health Clubs, Metro Arts, and a growing collection of restaurants and cafés.</p>

<p>Located just 800 metres from the Brisbane CBD, the precinct also places residents within walking distance of South Bank, West End's dining scene, riverfront parklands and major public transport connections.</p>

<p>For Sekisui House, which has delivered more than two million homes globally, Callista serves as the concluding piece of the West Village masterplan, bringing together the precinct's heritage character, parkland setting and emphasis on walkability in a final collection of larger-format residences.</p>

<p>[smartcode_project_cta:default project_id=134800]</p>


Rooftop pool, private dining and skyline gardens to crown West Village's final apartment release, Callista on Park

<p><a href="https://www.apartments.com.au/developments/wahroonga-nsw-2076">Wahroonga</a>’s enduring appeal has long been tied to its balance of bushland, established amenity, and access to some of Sydney’s most respected education and healthcare institutions.</p>

<p>Along Fox Valley Road, that combination is becoming increasingly sought after by buyers looking to remain connected to the Upper North Shore lifestyle while prioritising walkability, wellbeing, and convenience.</p>

<p>Developer Capital Corporation's initial vision of a 62-hectare site on Fox Valley Road was that they could create their own walkable community, bordered by&nbsp;more than 25 hectares of bushland and adjoining Coups Creek.</p>

<p><img alt="Wahroonga" data-entity-type="file" data-entity-uuid="b84917a1-0d75-49b9-888c-ddf7ebfd6692" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/NEW2026_Wahroonga_Walkway.gif?VersionId=Gk3_xi5ssYfalmwuQQ5umQakddceC31j" /></p>

<p><a href="https://www.apartments.com.au/new-apartments/the-residences-at-wahroonga-estate-169-fox-valley-road-wahroonga-nsw-2076">The Residences at Wahroonga Estate</a> draws directly on the area’s natural landscape, with walking trails and green corridors linking into sections of Lane Cove National Park. The surrounding network of bushwalks, cycling tracks, and reserves reinforces the suburb’s long-standing reputation as one of Sydney’s most nature-oriented residential pockets, while still maintaining close ties to village retail and transport infrastructure.</p>

<p>The address places residents within minutes of Wahroonga and Turramurra villages, where cafés, local grocers, boutiques, and everyday services support a highly localised lifestyle. Popular nearby venues including The Fox Café and Breeze Valley Café provide easy options for morning coffee or casual dining, while longstanding retailers such as IGA Wahroonga Fresh and Novella Fine Books continue to anchor the area’s village character.</p>

<p>&nbsp;</p>

<p><img alt="Wahroonga" data-entity-type="file" data-entity-uuid="c4a950f7-4f05-4370-b360-b106359788e5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/2026_Wahroonga_Entry_Gates.gif?VersionId=7n5kh9ymu.azYEYDemJkPgiIAfSw44oj" /></p>

<p>Healthcare access remains one of the defining locational advantages of the estate. Sydney Adventist Hospital, known locally as The San, sits directly adjacent and is one of the largest and most respected private hospitals in New South Wales. The hospital precinct incorporates specialist medical services, radiology, physiotherapy, and outpatient care, contributing to growing buyer demand from downsizers and owner-occupiers seeking long-term convenience and peace of mind.</p>

<p>Research commissioned by Capital Corporation found that health and wellbeing considerations are increasingly influencing downsizing decisions, particularly among buyers wanting to remain within familiar neighbourhoods while accessing medical infrastructure more easily.</p>

<p>Education has also historically underpinned demand across Wahroonga and the broader Upper North Shore. The estate sits close to several of Sydney’s leading private and independent schools, including Knox Grammar, Abbotsleigh, Barker College, Pymble Ladies’ College, Ravenswood School for Girls, and Loreto Normanhurst. Co-educational options including Wahroonga Adventist School and Sydney Adventist School further strengthen the area’s appeal to established families looking for long-term schooling pathways within a tightly held catchment.</p>

<p>[smartcode_project:default project_id=135247 project_image_fid=262183]</p>

<p>Transport connectivity supports the suburb’s liveability without compromising its quieter residential character. Wahroonga and Turramurra train stations provide direct rail access into the Sydney CBD, while the nearby Pacific Highway and M1 motorway strengthen links across the North Shore and broader metropolitan area. At the same time, the heavily treed streetscape and low-density character continue to distinguish the precinct from more urbanised parts of Sydney.</p>

<p>The Residences at Wahroonga Estate forms the first stage of <a href="https://www.apartments.com.au/developers/capital-corporation">Capital Corporation</a>’s broader masterplanned vision for the precinct, delivered alongside the Seventh-day Adventist Church.</p>

<p>[smartcode_project:default project_id=135247 project_image_fid=364995]</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/group-gsa">GroupGSA</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/coco-republic-interior-design">Coco Republic</a>, the development integrates landscaped communal spaces including a pet-friendly Green Spine, resident lounge, BBQ pavilion, and direct bushland access, reinforcing the project’s focus on outdoor connection and community-based living.</p>

<p>Now under construction by Gold Star iCIRT-rated builder <a href="https://www.apartments.com.au/builders/dasco-australia">DASCO</a>, The Residences at Wahroonga Estate will deliver a collection of one, two, and three-bedroom apartments priced from $990,000, with completion anticipated in 2027.</p>

<p>[smartcode_project_cta:default project_id=135247]</p>


Capital Corporation to cater to Upper North Shore downsizers by creating walkable community at The Residences at Wahroonga Estate

<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>As commodity prices and mining investment has sunk, demand for housing in mining areas has also slowed. This week we take a look at the performance of some of the major mining towns.</p>
<p>Mining towns and regions across the country have been hard hit as investment and commodity prices have slumped.  This week we’re looking at how the housing market has performed in terms of the volume and median price of sales across these regions.  The results indicate that not all mining towns have recorded an equivalent slowdown.  The following analysis looks at annual median prices and annual sales volumes</p>
<p><strong>Port Hedland </strong>– median prices peaked at $925,000 in June 2013 and sales volumes peaked at 402 in July 2006.  Current median prices are $390,000 (-58 percent lower than peak) and current sales are 128 (-68 percent below peak).  In what may be a positive sign for the market, annual sales are once again trending higher, although the median prices trend is yet to bottom out.</p>
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<p><a href="/images/2016/11/09/2016-11-07--image1.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/11/09/2016-11-07--image1.jpg" alt=""></p>
<p><strong>Isaac </strong>– median prices peaked at $620,000 in November 2012 and sales volumes peaked at 661 in March 2012.  Current median prices are $138,390 (-78 percent lower than peak) and current sales are 117 (-28 percent below peak).  Transaction numbers have recently started to rise, however median price trends remain negative.</p>
<p><a href="/images/2016/11/09/2016-11-07--image2.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/11/09/2016-11-07--image2.jpg" alt=""></p>
<p><strong>Karratha </strong>– median prices peaked at $815,000 in October 2010 and sales volumes peaked at 511 in March 2005.  Current median prices are $362,980 (-55 percent lower than peak) and current sales are 235 (-54 percent below peak).  Transaction numbers have been trending higher but the median sale price is still falling, albeit at a more moderate pace.</p>
<p><a href="/images/2016/11/08/Screen%20Shot%202016-11-08%20at%2012.25.26%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/11/08/Screen%20Shot%202016-11-08%20at%2012.25.26%20PM.png" alt=""></p>
<p><strong>Gladstone </strong>– median prices peaked at $475,000 in September 2012 and sales volumes peaked at 1,823 in July 2007.  Current median prices are $350,000 (-26 percent lower than peak) and current sales are 572 (-69 percent below peak).  Dwelling turnover is continuing along a downwards trend with no sign of an improvement in buyer demand just yet.</p>
<p><a href="/images/2016/11/09/2016-11-07--image4.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/11/09/2016-11-07--image4.jpg" alt=""></p>
<p><strong>Kalgoorlie-Boulder </strong>– median prices peaked at $351,250 in June 2015 and sales volumes peaked at 1,656 in September 2006.  Current median prices are $312,000 (-11 percent lower than peak) and current sales are 345 (-79 percent below peak).  Transaction numbers appear to be levelling, however there is no sign of any upwards pressure on prices or turnover.</p>
<p><a href="/images/2016/11/09/2016-11-07--image5.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/11/09/2016-11-07--image5.jpg" alt=""></p>
<p><strong>Mackay </strong>– median prices peaked at $435,000 in June 2013 and sales volumes peaked at 3,264 in April 2004.  Current median prices are $345,000 (-21 percent lower than peak) and current sales are 1,045 (-68 percent below peak).  Transaction numbers have recently levelled across the Mackay housing market but are yet to improve.</p>
<p><a href="/images/2016/11/09/2016-07-11--image6.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/11/09/2016-07-11--image6.jpg" alt=""></p>
<p><strong>Roxby Downs </strong>– median prices peaked at $500,016 in November 2013 and sales volumes peaked at 187 in February 2004.  Current median prices are $250,000 (-50 percent lower than peak) and current sales are 23 (-88 percent below peak).  Transaction numbers have recently increased slightly across Roxby Downs.</p>
<p><a href="/images/2016/11/09/2016-11-07--image7.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/11/09/2016-11-07--image7.jpg" alt=""></p>
<p>The smaller mining townships which don’t act as major service centres have tended to see a much sharper fall in median selling prices than the larger townships.  The decline in sales and prices from the market peaks has been substantial across all of these regions, however the regions that have seen the most significant downturn were those that also recorded a significant upswing in prices and turnover rates prior to the peak in commodity prices.</p>
<p>Recently, most of these mining towns have experienced a stabilisation in sales with some regions having seen an increase in sales volumes.  Although sales may have broken the declining trend in a number of areas, median selling prices are generally continuing to trend lower across each of the regions highlighted.</p>
<p>The improvement in transactional activity could potentially be due to larger numbers of distressed sales moving through these markets, but may also be attributable to a cautious return of buyers seeking out a bargain.</p>
<p>The challenge for many of these regions remains that despite a recent uptick in commodity prices, investment in large infrastructure projects (new mines, processing facilities, transport etc) has dried up and subsequently few additional jobs are being created. </p>
<p>Although commodity prices have recently surged, particular iron ore, coking coal and thermal coal, it is not yet leading to a substantial increase in exploration activity or employment, subsequently housing demand remains weak and continues to have a dampening effect on housing prices. </p>
<p><em>Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.</em></p>
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ckusher-ujnxiKuFQs

The lowdown on the mining town slowdown from Gladstone to Karratha

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<p>Annual net permanent and long term arrivals into Australia increased marginally in September to +267,500, some way up from the nadir of +262,800 in June. </p>
<div id="post-body-5241173402093429277" class="post-body entry-content"><a href="/images/2016/11/15/A1.jpg" target="_blank">Click to enlarge</a></div>
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<br><div>A significant driver of the rebound has been permanent settlers from Asia, of which there were 74,300 over the year to September, or 56.6 per cent of the total. </div>
<div> </div>
<div>By contrast, permanent settlers from New Zealand, and from Europe with their weakened currencies, continued to wane significantly.</div>
<br><a href="/images/2016/11/15/A4.jpg" target="_blank">Click to enlarge</a>
</div>
<div class="post-body entry-content"> </div>
<div class="post-body entry-content">
<img src="/images/2016/11/15/A4.jpg" alt=""><br><div> </div>
<div><strong><span style="text-decoration: underline;">8 million &amp; beyond</span></strong></div>
<div> </div>
<div>The rebalancing quietly continues, with the number of short term departures ticking a notch lower for a third consecutive month in September, while short term arrivals smashed new records by a huge margin at 709,700 in the month (+11.7 per cent over the year).</div>
<div> </div>
<div>The chart therefore dovetails into a neat 'pincer' formation, as short term arrivals flew beyond 8 million for the first time, and the pace of increase approaching two decade highs!</div>
<div> </div>
<div><a href="/images/2016/11/15/A5.jpg" target="_blank">Click to enlarge</a></div>
<br><img src="/images/2016/11/15/A5.jpg" alt=""><br><br><div>No surprises for guessing that the increase was driven by the 1.58 million visitors from China, Taiwan, and Hong Kong, which even now are still increasing at an annual pace of more than 20 per cent. Extraordinary!</div>
<div> </div>
<div><a href="/images/2016/11/15/A2.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="separator"><img src="/images/2016/11/15/A2.jpg" alt=""></div>
<br><div>There has also been a huge lift in tourism from the United States, rising at an annual pace of around +18 percent. </div>
<br><div>While tourism is of course a major driver, the role of international education should not be underestimated with a record 506,200 education arrivals over the year to September (+12.7 percent).</div>
<br><div class="separator"><a href="/images/2016/11/15/A3.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"> </div>
<div class="separator"><img src="/images/2016/11/15/A3.jpg" alt=""></div>
<div> </div>
<div>While there are inevitably some back-and-forth trips within these figures, as an indicator this chart matches up quite closely with enrolments data which have also suggested rapid growth in international student numbers, particularly from China and India.</div>
<br><div class="separator"><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div class="separator"> </div>
<div class="separator">Quite a solid set of numbers across the board here, with record short term arrivals and increasing immigration. </div>
<div class="separator"> </div>
<div class="separator">Overall, this points to annual population growth tracking at around +350,000, but note how population growth is being driven less by 'permanent' arrivals and more by those arriving on other types of visa. </div>
<div> </div>
</div>
<div class="post-footer">
<p><span><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><br></span></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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pwargent-M4siyDbqQY

Immigration turns up a notch: Pete Wargent

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<h3 class="post-title entry-title"><a href="https://petewargent.blogspot.com.au/2016/11/labour-market-weakness-under-hood"></a></h3>
<div id="post-body-5100146898223249015" class="post-body entry-content">Let's begin with the good news, because I'm in a jolly good mood and don't want to spoil it.<br><br>It won't take long anyway, as there isn't really that much good news to report!<br><br><div>The unemployment rate ticked down to 5.35 percent in original terms, the lowest in well over three years.</div>
<div> </div>
<div>In seasonally adjusted terms the unemployment rate of 5.58 percent was the lowest in 42 months, and well below the 6.32 percent seen in January 2015 (click the graphics to expand, as always!).<br><br>
</div>
<div>
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<div class="separator"> </div>
</div>
<div>Drilling the trend line through the figures, the unemployment rate of 5.6 percent looks healthy enough. </div>
<div> </div>
<div><a href="/images/2016/11/18/B3.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<img src="/images/2016/11/18/B3.jpg" alt=""><br><div> </div>
<div>In New South Wales the trend unemployment rate has continued to decline to just 4.89 per cent, the lowest figure in nearly six years, while Victoria and Queensland are also moving in the right direction.<br><br>The trend hasn't caught up but Queensland's seasonally adjusted unemployment rate dropped to 5.8 per cent. Bonzer.</div>
<div> </div>
<div>Tasmania and Western Australia are heading the other way. </div>
</div>
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<br><div class="separator"><img src="/images/2016/11/18/B1.jpg" alt=""></div>
<br><div>Although not charted here due to their respective small sample sizes, the unemployment rates in the Northern Territory (3.5 per cent) and the ACT (3.4 per cent) are low. </div>
<br>OK, that's great. Now brace for the not-so-cheerful news....<br><br><div><strong><span style="text-decoration: underline;">"Jobs and growth?" Maaate...</span></strong></div>
<div> </div>
<div>Hiring is usually strong at this time of year, and total employment increased by about +78,800 over the last two months.</div>
<div> </div>
<div>After accounting for seasonality, however, this month's increase was only +9,800, although that figure did at least include a vast swing back to full-time employment of +41,500. </div>
<div> </div>
<div>This all sounds cool until we revisit what happened last month, which was a big seasonally adjusted drop in employment, while full-time employment is nearly 90,000 lower than at the beginning of the year.</div>
<div> </div>
<div>Looking through the noise, the trend in employment growth now looks poor. </div>
<div> </div>
<div><a href="/images/2016/11/18/B4.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="separator"><img src="/images/2016/11/18/B4.jpg" alt=""></div>
<br><div>Another way to look at this is to view the annual trend employment change, which has dropped to +108,100, or an a trend annual increase of only +0.9 percent. </div>
<div> </div>
<div><a href="/images/2016/11/18/B5.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="separator"><img src="/images/2016/11/18/B5.jpg" alt=""></div>
<br><div>The annual rate of employment growth is at its lowest level in 23 months and is now below the rate of population growth, and categorically 'not good enough'!</div>
<div> </div>
<div>Victoria has now cruised to the top of the employment growth charts, with Victoria (+107,300) and New South Wales (+46,100) accounting for more than all of the net employment growth over the past year.<br><br>Employment in Tasmania dived by -3,400 in October to be -4,300 lower than a year ago. </div>
<div> </div>
<div>Queensland employment fell by -16,900 in the month, and by -46,000 over the year. This month's result was a rogue statistic due to the sample rotation from September, though there's no question that employment in aggregate has weakened in the Sunshine State, led by resources-related job losses in locations such as Townsville. </div>
<div> </div>
<div>I'll look at the Queensland figures by region in more detail next week. </div>
<div> </div>
<div><a href="/images/2016/11/18/B6.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="separator"><img src="/images/2016/11/18/B6.jpg" alt=""></div>
<br><div>Shadow Treasurer Scott Emerson highlighted that 67,600 jobs had been lost in Queensland since the beginning of the year and that "anyone who sees today's result as good news doesn't understand how tough it is to find a job in Queensland".</div>
<div> </div>
<div>He's right about the second part, but clearly he didn't read the commentary on the incoming sample and cocked up his numbers by calculating them from the end of January rather than the beginning. Maybe that was deliberate. Oh well, at least his job doesn't require strong numeracy skills! </div>
<br><strong><span style="text-decoration: underline;">The wrap</span></strong><br><div> </div>
<div>While the unemployment rate superficially looks positive, the participation rate is well down and now at the lowest level since early 2006. </div>
<div> </div>
<div>Despite a much improved monthly result, total hours worked - as useful an indicator as any when looking at a volatile survey - increased by only +0.9 per cent over the year to October, and less in trend terms. </div>
<div> </div>
<div>And despite the wild swing back to full-time employment this month, it's important to see through the monthly noise and understand that much of the growth in jobs has been part-time in nature over recent times.</div>
<div> </div>
<div>Therefore, we have the weakest nominal wages growth on record, some of the weakest non-tradables inflationary pressures on record, and weak employment growth across recent months. </div>
<div> </div>
<div>Sounds like the easing cycle isn't over to me, but markets remain tentative for now, and job vacancies figures have admittedly been solid enough.<br><br>I will just note that when the labour force report prints solidly most commentary states that it must be somehow wrong, yet when the figures are weaker (as they are now) they are instantly taken at face value!<br><br>Something to bear in mind if the headline figure snaps back up next month...</div>
<div> </div>
</div>
<div class="post-footer"> 
<p><span><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><br></span></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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Labour market: weakness under the hood

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<p class="x_MsoNormal"><em>Hi Margaret,</em></p>
<p class="x_MsoNormal"><em>I am currently educating myself on property investing before buying my first investment property.</em></p>
<p class="x_MsoNormal"><em>I am currently reading your book “Investing in the right property now!” in the third chapter you mention looking for an area which has low housing starts. My question is how to quantify “low”, I realise there is probably  no magic number but should I be looking for a region where housing start do not exceed population growth or should I simply assess the areas vacancy rates as an indicator of whether the new developments are creating an over supply.</em></p>
<p class="x_MsoNormal"><em>As an example, one area which I am considering an investment has a population of ~50,000, an annual population growth of 1 percent and housing starts are as follows 2015-‘16=447; ‘14-‘15=340; ‘13-‘14=243; ‘12-‘13=227</em></p>
<p class="x_MsoNormal"><em>Of course I am considering many other factors when analysing an area as mentioned in your books but this is just the one I am having troubles with at this point in time</em></p>
<p class="x_MsoNormal"><em>Thank you kindly,</em></p>
<p class="x_MsoNormal"><em>Sam</em></p>
<p class="x_MsoNormal"><span> </span></p>
<p class="x_MsoNormal">Hi Sam, </p>
<p class="x_MsoNormal"><span>Your question is a good one and it’s important to consider a range of factors when choosing an area where you would like to invest in property.</span></p>
<p class="x_MsoNormal"><span>I would like to point out that, as mentioned in the book, you have to ensure that you don’t get caught up in just one statistic or factor, as that factor alone could be painting a different picture than the one you want to eventuate!</span></p>
<p class="x_MsoNormal"><span>Let me explain.  There are many growth drivers, and they all work as only a small part of an overall puzzle, somewhat like a jigsaw puzzle. With too many pieces missing, the puzzle just does not work.  The more pieces you can fit into that puzzle, the better the picture becomes. </span></p>
<p class="x_MsoNormal"><span>Where property is concerned, the pieces are the growth drivers, but taken alone a single piece is not enough, or may not provide the right picture. Take the ‘housing starts’ you refer to. The idea behind ensuring that there is not too much development going on is to ensure that the area is not oversupplied with property.  Since the only thing which ultimately drives growth is demand, an oversupply of property will dilute that demand and lead to a sustained period of low, or no growth.</span></p>
<p class="x_MsoNormal"><span>Now,  you may find an area with 50,000 population and low housing starts, but those low housing starts figures could be because no one is moving there, or there is little employment or anything else happening in the area.  And so the low housing start factor must be combined with a population growing faster than inflation, diversified employment, no new land for future development and a number of other factors for it to be a pointer to future property price growth.</span></p>
<p class="x_MsoNormal"><span>There is no figure or calculation, but if the population is growing by, say, 1 percent per annum and housing starts are only growing by 0.5% per annum, and other drivers <em>also </em>exist, then it makes sense that a future increased demand for housing may ensue.</span></p>
<p class="x_MsoNormal"><span>Always make sure that you examine all of the factors – it is the trend of those factors and their relationship to each other which becomes important, rather than the number itself.</span></p>
<p class="x_MsoNormal"><span><span>Have a property question? </span><span><em> </em><a href="mailto:news@propertyobserver.com.au" target="_blank"><span><em>Ask Margaret!</em></span></a></span></span></p>
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mlomas-KC9MUPZ6Ca

Low housing start insights for investors: Ask Margaret

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<p>For those of you who follow my writings (I am grateful), you may be aware that I started my property journey 14 years ago.</p>
<p>Lately, I’ve been reflecting on what’s happened over that time. It’s nice to allow time to remember because life can be so hectic.</p>
<p>14 years ago I purchased my first investment property. I had purchased two homes (principal places of residence – PPRs) before then but one of them hardly counts.</p>
<p>I’d bought a house with a boyfriend who decided a few weeks after we settled on the property and moved in together, that he wanted to ‘explore’ a relationship with an old flame.</p>
<p>Well that went down like a ton of bricks!</p>
<p>Here I was working crazy hours in a product manager’s role, studying at university three nights a week and just invested all of my hard earned savings into a home with someone now thinking the grass may be greener elsewhere.</p>
<p>Needless to say I ‘asked’ him (very loose description) to move out, giving my blessing for his so called ‘exploration’ project. I then put the house up for lease and moved home to mum and dad – thank goodness for parents.</p>
<p>After a couple of years, I sold my 50 percent share to him, recouped my savings and promptly used them for a deposit on my second home, bought with a husband this time. I’m still living in this home and it has served us well.</p>
<p>Back to my investments…it all started when I was pregnant with my first son and picked up the book Rich Dad, Poor Dad by Robert Kiyosaki. This was life changing for me and literally a light bulb moment.</p>
<p>I put the book down, booked into an intensive property educational course and whilst studying, working, pregnant and highly motivated, bought my first investment property. It settled around the same time my beautiful son was born and I couldn’t have been happier. I was now a property investor and a mother.</p>
<p>This led to buying four more within two years. Sydney was in a growth phase – it was 2002 - but still property seemed very expensive, pretty much like right now! I quickly learnt that whilst the properties were increasing in value, the yields in Sydney were decreasing. I needed cash flow and the properties I’d purchased were negatively geared. Not bad for my tax returns, but still draining.</p>
<p>I’d already started researching large regional areas outside of Sydney where properties were cheap, rents were strong and land size large. I purchased a property, renovated the house, added two dwellings and subdivided it. Now I was a property developer as well as an investor.</p>
<p>I loved the idea of adding value and creating equity, rather than passively waiting for growth.</p>
<p>This led to my property development project management business; Property Bloom. I had two friends who saw what I was doing and wanted me to manage a development for them. And so I started a system that I’ve never stopped refining. My first two clients/friends lead to many more and now I’ve developed over 100 properties for happy investors who wanted to take their first step into property development but needed some help.</p>
<p>What else has happened?</p>
<p>I had another beautiful son 9 years ago. This was interesting times with a little baby and a 6-year-old to care for and a growing business to run, I worked harder than ever. There was no napping when the baby slept, I’d jump into the office when he napped during the day and work into the nights. I was tired but determined.</p>
<p>My determination came from watching my parents retire on very little. There was no Super in those days. They had some money from selling the family home and downsizing to a sea change location but had to rely on pensions. No grand world trips to celebrate years of hard work for them. They were still happy, but had less options. I wanted a lot more for my retirement. I wanted the freedom and options that comes from having money.</p>
<p>My property portfolio appreciated and my business grew. I felt I was finally building wealth. Then, 3 years ago the worst thing happened.</p>
<p>After almost 20 years, my marriage crumbled and I found myself in the most difficult time of my life. I was scared. I didn’t know how I could get through it or what the future held. I focussed on one day at a time and thank goodness my business kept me focussed.</p>
<p>Guess what? I did get through it, my financial situation actually improved even after the property settlement with my ex and I am happy. I coped because the energy around me changed. I know this sounds a bit new agey but the energy in my life during the final stages of marriage was not good. As soon as things changed, I literally felt positivity radiating around me. I have awesome friends, awesome sons and awesome family that all helped me and I am very grateful.</p>
<p>I have learnt that gratitude is paramount. When you feel grateful, you feel great. Try it. Think of something you are really grateful about and I guarantee it’s put a smile on your face. You can also attract things and people into your life with the right focus and energy. Trust me it works.</p>
<p>When I read that book 14 years ago, I had no investments and were about to start a family. Now I have a portfolio of investments and feel secure about my future. My pride and joy – second to my two sons of course - is Property Bloom, my business. I get to do exactly what I love every day, help others and have flexibility and time for my boys and special friends.</p>
<p>Life is good. </p>
<p><em><em>Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a><a href="https://www.propertybloom.com.au/">.</a></em></em></p>
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jochivers-wq5Bp59R5a

A lot can happen in 14 years: Jo Chivers

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<p class="p1">Bill Shorten and Labor are promising to perform a mathematical miracle in the real estate industry: they have a policy under which prices will keep rising but affordability will improve.</p>
<p class="p1">Labor justified its real estate taxation policy with the claimed desire to improve housing affordability. Shorten in his policy announcement essentially blamed all price rises over the past 30 years on negatively-geared investors and inferred that nobbling them would revolutionise affordability.</p>
<p class="p1">This has scared the living daylights out Australians who live in the 70 percent of households which own their homes. Labor was promising to reduce the value of their major asset.</p>
<p class="p1">Since Labor realised the fundamental flaw in its policy pitch, it has been at pains to claim that property values won’t fall under its changes. The ALP-aligned think tank, The McKell Institute, is now saying that house prices will keep rising under the Labor policy.</p>
<p class="p1">So Labor proposes to perform a statistical miracle. Prices will keep rising but affordability will improve. One wonders about the means they will use to achieve this. Other than lower prices, the only mechanisms for improving affordability are a big cut in interest rates (already at record lows and not controlled by the politicians) and/or a big rise in incomes (not part of the plan, as far as I know).</p>
<p class="p1">This confirms – yet again – that politicians collectively lack even a primary school understanding of how property markets work and how their blinkered policies impact on real estate consumers. They seem unable to think policies through to logical conclusions. They keep introducing laws which they claim will improve affordability but which make it worse – every time.</p>
<p class="p3">This is playing out at a state level, with the Governments in charge of the two biggest states slugging foreign investors with new taxes. They maintain that this will somehow make housing cheaper but sadly - yet again - it will have the opposite impact.</p>
<p class="p3">There are widely diverging views on affordability – how serious it is, what causes the problem, who’s to blame for prices rising and how to fix things. But one area where most parties tend to agree is that increasing the supply of dwellings would have a beneficial impact.</p>
<p class="p3">In fact, the best chance of bringing down prices at a local level is creation of an oversupply. As we have seen in selected locations around Australia in recent years, it’s the one major element that causes prices to drop.</p>
<p class="p3">Specific markets, notably inner-city apartment markets in some capital cities, are poised for a hefty rise in supply which is linked directly to foreign investment. If planned projects proceed, price decline is almost inevitable.</p>
<p class="p3">But state government moves in Victoria and New South Wales to lift sharply increase taxes on foreign buyers of Australia real estate are likely to prevent or limit that increase in supply.</p>
<p class="p3">Coupled with moves by the banks to curtail lending to foreign buyers and ATO measures affecting sales above $2 million, Australia has quickly cobbled together a series of major disincentives to foreign investment. There are reports of Asian investors switching their focus away from Australia to other, more welcoming nations.</p>
<p class="p3">If foreign investors stop buying (they won’t all be turned away, but many will, I suspect) many of the proposed apartment projects simply will not be built. </p>
<p class="p3">The big increase in new dwelling supply will be lost, as will many construction jobs. </p>
<p class="p3">In reality, I suspect the state measures have little to do with a desire to improve affordability. It’s essentially a cash grab, disguised as a measure to help young Australians achieve home ownership.</p>
<p class="p3">Like everything else coming out of the befuddled brains of politicians, the moves will make the problems in real estate worse.</p>
<p class="p1"><em>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em></p>
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terryryder-YECXbqmri2

Cash grab or about affordability? Terry Ryder

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<p>The preliminary auction clearance rate nudged higher over the first week of winter, however the number of auctions dipped compared with the previous week. </p>
<p>There were 1,953 auctions held over the week, down from 2,480 last week, however higher than one year ago when 1,201 auctions were held and auction volumes were low due to the Queen’s birthday public holiday in all cities with the exclusion of Perth.</p>
<p>Preliminary results show that 70.4 percent of capital city auctions held this week were successful, rising from a final result of 67.7 percent last week. One year ago, across the lower number of auctions, 78.5 percent sold. Melbourne and Sydney, the two largest auction markets have maintained strength this week, while across the remaining, significantly smaller auction markets, results have been more varied.</p>
<p><a href="/images/2016/06/06/20160606-Capital-city.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/06/20160606-Capital-city.png" alt=""></p>
<p>This week, 959 residential properties were taken to auction in <strong>Melbourne</strong> with 71.4 percent clearing, based on preliminary results. In comparison, over the previous week 1,170 auctions were held with a 71.5 percent clearance rate, while one year ago, given the following Monday was a public holiday, just 315 homes went to auction, with a strong clearance rate of 80.3 percent. While Melbourne as a whole had a clearance rate of 71.4 percent this week, across the individual sub-regions clearance rates ranged from as high as 79.2 percent across the Inner South region and as low as 60.6 percent across the South East region. The busiest sub-region for auctions was the Inner region with 180 auctions.</p>
<p><a href="/images/2016/06/06/20160606-Melbourne.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/06/20160606-Melbourne.png" alt=""></p>
<p><strong>Sydney’s</strong> clearance rate rose over the week from 73.2 percent last week to 76.7 percent. The number of auctions held across the city this week was lower than last week, at 654, compared to 811. One year ago 603 Sydney auctions were held with 88.7 percent clearing. So far this year, Sydney’s clearance rate has remained relatively robust, after dipping to as low as 52.9 percent at the end of last year. However, results across the city are substantially lower than they were at the same time last year, and the volume of auctions held over the year to date is around 20 percent lower. This week, the City and Inner South region had the strongest preliminary clearance result across the city (85.7 percent), followed by Ryde at 85 percent and Eastern Suburbs at 84.9 percent.</p>
<p><a href="/images/2016/06/06/20160606-Sydney.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/06/20160606-Sydney.png" alt=""></p>
<p>This week auction activity across <strong>Brisbane</strong> fell, from 192 auctions last week to 129 this week. Last week Brisbane’s clearance rate was 41.7 percent, however preliminary results show a weekly rise to 55.4 percent this week. One year ago, 130 Brisbane auctions were held with a clearance rate of 48.5 percent. Across the <strong>Gold</strong> <strong>Coast</strong>, the preliminary clearance rate this week is 35.3 percent, compared to 40.7 percent last week. There were 46 auctions held across the region, down from 84 last week.</p>
<p><a href="/images/2016/06/06/20160606-Brisbane.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/06/20160606-Brisbane.png" alt=""></p>
<p>The preliminary auction clearance rate for <strong>Adelaide</strong> was 67.2 percent this week, up from 52.6 percent last week, which was the second lowest clearance rate result seen across the city so far this year. 98 homes were taken to auction this week, compared to 125 last week. Over the corresponding week last year, 62 Adelaide auctions were held with 71.2 percent clearing.</p>
<p><a href="/images/2016/06/06/20160606-Adelaide.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/06/20160606-Adelaide.png" alt=""></p>
<p><strong>Perth’s</strong> preliminary results show that 30 per cent of the 10 reported auctions were successful this week. Perth’s clearance rate tends to move around a lot, however this week’s result is only slightly lower than last week (30.6 percent) and down compared to last year (45.9 percent).</p>
<p>For the first time in five weeks, <strong>Canberra’s</strong> clearance rate edged over the 70 percent mark last week, recorded at 70.5 percent. This week, however, the clearance rate for the city fell to 46.8 percent across 77 auctions. One year ago, Canberra’s final auction clearance rate for the week was 61.3 percent across 38 auctions.</p>
<p>8 auctions were held across <strong>Tasmania</strong> this week, with 4 reported so far and 3 sold.</p>
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Auction clearance rate maintains strength over first week of winter: CoreLogic's Shana Miller 

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<p>When we receive a client’s Development Application (DA) Consent it’s always an exciting time.</p>
<p>Receiving council approval is one of the major milestones of a property development and it should be celebrated. But the champagne and toasts can wait because there is one thing you must do immediately.</p>
<p>Should you send it to your builder?  Yes, but it will also need to go to other consultants</p>
<p>Should you file it safely? Yes, it’s a legal document so keep it safe.</p>
<p>But before you do this, the first thing you need to do is check the conditions of the DA.</p>
<p>You’ll see in the Consent a number of conditions. The one I’m reviewing right now; a consent for two attached dwellings and Torrens title subdivision, has 58.</p>
<p>58 Conditions that we need to make sure we’ve allowed for in the building costs, plans and our development processes.</p>
<p>There are usually three main areas that the Conditions relate to and must be satisfied by:</p>
<ul>
<li>Prior to the issue of a Construction Certificate (CC)</li>
<li>Prior to the commencement of work and during the construction phase</li>
<li>Prior to the issue of an Occupation Certificate (OC) or a Subdivision Certificate</li>
</ul>
<p>The very first condition that my eyes scan for is the one relating to the Section 94 Contribution.</p>
<p>This is a council charge that goes towards the provision of public amenities and services within the locality. In our area, it’s only charged for a dual occupancy or larger projects, not for a single house build.  </p>
<p>I call it a ‘cost of doing business’ and it’s usually several thousand dollars, this one I’m reading now is for $12,822.53. but we knew it would be about this much and had allowed $12,900 in this client’s feasibility, and so we are covered. This fee will be different not only by council, but by suburbs. Some suburbs (under the same council) need more infrastructure spending and the Section 94 can cost up to $30,000. For obvious reasons, we do not develop in those locations. That is a lot of money to be giving to council for the privilege of building new dwellings. There is no intrinsic value in a Section 94 contribution cost. So the lower the better. Don’t be surprised by this cost, you can find out before you buy a development site what council are likely to charge you, so do your research.</p>
<p>Once I’ve checked this major cost against our allowance, my eye scans the rest of the conditions that must be met prior to the CC being issued, as we don’t want to hold up this process now we have our consent. Property Bloom always uses a private certifier to issue the CC as we know it is much faster than using council.</p>
<p>There are a few relating to the stormwater management and we will have our engineer confirm our stormwater plan is meeting these. The rest of the conditions in this section are standard. We must send this DA Consent to our private certifier as he will be the one making sure they are all covered off on the CC plans.</p>
<p>Next I scan the rest of the conditions. The ones relating to the construction phase are all standard and relate to things the builder needs to cover off like vehicle access crossings to the site and how it should be constructed, signage, waste management on site, work hours etc.</p>
<p>The next section shows the conditions that need to be met before an OC will be issued. This is very important as we don’t want to be holding up tenants moving in on completion. Most of these conditions again are standard but be careful as sometimes there will be particular reports required such as a Works As Executed report which needs to be done by an engineer or surveyor after the drainage system is in place and completed. It takes our surveyor just a few days but if forgotten can hold up your valuable rental income.</p>
<p>The other important condition is to check when you can apply for the subdivision certificate. In this case, it’s at Lock Up stage, which is great and means we can usually have the Torrens title subdivision completed as we finish construction. Very important if you are refinancing as the bank will value the two separate registered titles higher than both dwellings on one title.</p>
<p>There may also be a section where a number of conditions fall under refered to as “Advisory Matters”. These conditions usually relate to state planning policies and work place practice.</p>
<p>Make sure you check your Consent carefully, then send it to all the relevant consultants and get everyone started on the next phase of your development journey, obtaining the Construction Certificate consent.  Then sit back for a few minutes and celebrate passing this exciting milestone.</p>
<p><em>Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.</em></p>
<p> </p>
<p> </p>
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The one thing you need to do when the DA consent is issued: Jo Chivers

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<p>Enter housing price growth into the topic although make sure if you want to be right that you always select the plural.</p>
<p>For example, those in the real estate industry always focus on suburban or post code housing price growth. What we are reading now are housing price growth predictions of significant drops for Sydney and Melbourne which just so happen to be Australia’s largest and most active markets.</p>
<p>Allow me to put this into perspective given most have failed miserably in educating readers as to what exactly this means. Let’s say for the sake of this argument you own a house in Mosman – in six months’ time the value of your home will in all probability have gone up due to record low stock levels. However, if you had recently acquired an investment off – the – plan apartment, in six months’ time that would have definitely dropped well below the purchase price.</p>
<p>Recently we learnt that the Australian banks are no longer lending to foreign buyers and many areas across Sydney have now been black listed from obtaining any loans due to a significant oversupply of property. We need to bear in mind that whenever we see major price adjustments to real estate this can only happen when you have an acute oversupply.</p>
<p>The final nail in the housing investment market was delivered this week in the NSW budget when stamp duty payable by foreign buyers would be hit with a new four (4) per cent surcharge. On top of that they will also be hit with an additional 0.75 per cent land tax surcharge on residential real estate. If ever these tens of thousands of foreign buyers needed a reason to walk away from their deposits they certainly have one now.</p>
<p>To add further confusion to this potential housing catastrophe nobody can answer does this surcharge apply to those investors who have already paid their deposit and are yet to pay stamp duty? If history is anything to go by then you would say confidently that it does. The major lenders would be hoping that it does as they would be hoping that many of their new lending clients walk away from their deposits as that significantly reduces their exposure. Although this can be a double whammy if they are also funding the developer – so this is the double – edged property sword.</p>
<p>We should also clean up some incorrect speculation from commentators that this new surcharge will have a significant effect on home prices too. Well it won’t because these foreign buyers can only buy off – the – plan so it won’t play any part in the established housing markets.</p>
<p>One would have to say that the new surcharges will be a total failure although it is disappointing that the NSW government did absolutely no due diligence with what the long term effect would be on the housing markets other than to drive the investment real estate markets values down. The tax that should have been brought down was a tax against those investors who land bank because they would make plenty from that given a large percentage of foreign buyers leave these properties vacant.</p>
<p>The NSW government would be very concerned that stamp duty received from the established property markets is in significant decline although there is no mention of that as all the revenue has arrived thanks to a robust investment market, hence the new surcharge. Should the new surcharge tax turn out to be a dismal failure which I believe it will then the NSW government will be forced into hopefully a complete review of property taxes.</p>
<p>Everyone in the real estate industry knows full well that the reason for record low stock levels is entirely due to home owners baulking at paying exhorbitant stamp duty, so instead they are renovating. One day the NSW government will explore a broad based land tax paid annually by home owners as a logical replacement to stamp duty with Australian residents receiving a discounted rate.</p>
<p>One would think by now that policies on the run are usually always met with disaster where the last example was the failed and now abolished mining tax.</p>
<p>MOSMAN – 2088</p>
<p>Number of houses on the market this time last year – 55</p>
<p>Number of houses on the market last week – 51</p>
<p>Number of houses on the market this week – 48</p>
<p>Number of apartments on the market this time last year – 66</p>
<p>Number of apartments on the market last week – 41</p>
<p>Number of apartments on the market this week – 41</p>
<p>CREMORNE – 2090 </p>
<p>Number of houses on the market this time last year – 13</p>
<p>Number of houses on the market last week – 10</p>
<p>Number of houses on the market this week – 13</p>
<p>Number of apartments on the market this time last year – 11</p>
<p>Number of apartments on the market last week – 18</p>
<p>Number of apartments on the market this week – 18</p>
<p>NEUTRAL BAY – 2089 </p>
<p>Number of houses on the market this time last year – 3</p>
<p>Number of houses on the market last week – 8</p>
<p>Number of houses on the market this week – 7</p>
<p>Number of apartments on the market this time last year – 29</p>
<p>Number of apartments on the market last week – 19</p>
<p>Number of apartments on the market this week – 19</p>
<p><em>ROBERT SIMEON is a director of </em><em><a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> </em><em>and has been selling residential real estate in Sydney since 1985. <br>He has also been writing real estate blog </em><em><a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> </em><em>since 2000.</em></p>
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robertsimeon-hRNTwJyXkQ

Home truths needed on housing debate: Robert Simeon

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<p> It's been suggested that trends in migration from Australia towards Australia might bode ill for our economy, a kind of pseudo-recession indicator if you will.</p>
<p>Certainly, there had been a significant increase in those migrating permanently of for the long term across the Tasman - many of whom were originally Kiwis returning home.</p>
<div id="post-body-6341683202076112219" class="post-body entry-content">
<div class="separator"><a href="/images/2016/06/28/NZ1.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/06/28/NZ1.jpg" alt=""></div>
<br><div>It's not too hard to see why these trends developed.</div>
<div> </div>
<div>New Zealand had been running a much higher unemployment rate than Australia while we were still enjoying the spoils of a heady resources construction boom.</div>
<div> </div>
<div>But then as the mining construction boom passed its peak in Australia, opportunities for employment here declined, and the unemployment rate ticked higher - just as NZ was being anointed with its "rock star economy" status.</div>
<br><a href="/images/2016/06/28/NZ2.jpg" target="_blank">Click to enlarge</a>
</div>
<div class="post-body entry-content">
<img src="/images/2016/06/28/NZ2.jpg" alt=""><br><div> </div>
<div>Unfortunately New Zealand's one-time rock star economy rather seems to have rocked itself out.<br><br>In fact, NZ now has a higher unemployment rate than Australia, after an odd-looking blip last in the quarter before last.</div>
<div> </div>
<div>Now there isn't all that much to pick between either economy.<br><br>Both have indicators of under-employment, under-utilisation and weakened commodity prices (here it's mainly bulk commodities, over there, dairy).<br><br>And both countries are looking to tourism and international student migration to paper over the cracks.</div>
<div> </div>
<div>It looks as though the trend in net migration having tilted sharply in favour of New Zealand has now reached something approaching equilibrium. </div>
<div> </div>
<div>In fact in April there was a small seasonally adjusted net flow back in favour Australia. </div>
<br><div class="separator"><a href="/images/2016/06/28/NZ2-1.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/06/28/NZ2-1.jpg" alt=""></div>
<br><div>In truth, whether 100 or so people decide to head this way or that will have little bearing on the health or otherwise of Australia's economy going forward.</div>
<div> </div>
<div>About 60 per cent of permanent migrants to Australia now hail from Asia.</div>
<div> </div>
<div>And with our international student visa rules to be relaxed significantly from 1 July this trend will be reinforced, with a high share of the new applicants expected to be from China and India.</div>
<div> </div>
<div>
<p><span><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><br></span></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>
</div>
</div>
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