<a href="https://www.apartments.com.au/new-apartments/smith-by-valli-collingwood-224-228-smith-street-collingwood-vic-3066">Smith Collingwood</a> is a new boutique apartment development bringing a refined, design-led approach to one of Melbourne’s most established inner-city neighbourhoods.

Designed by <a href="https://www.apartments.com.au/architects/pandolfini-architects">Pandolfini Architects</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/lisa-buxton-interiors">Lisa Buxton</a>, Smith by Valli sits on iconic Smith Street and comprises just 22 residences tailored toward owner-occupiers seeking a more considered style of apartment living.

[smartcode_project:default project_id=140747 project_image_fid=367540]

The design of Smith focuses on a north-facing orientation across all residences, a relatively uncommon feature in dense inner-Melbourne settings. Each apartment has been planned to maximise natural light and outlook, alongside a material palette defined by warm tones, custom joinery, and a full suite of Gaggenau appliances.

The development comprises a mix of one, two, and three-bedroom apartments, with pricing currently ranging from just under $1 million to around $4.85 million for the premium penthouse-level residences, reflecting growing demand for luxury owner-occupier product in Melbourne’s inner urban market.

Residents will also have access to a private rooftop garden designed as an elevated retreat above the city, &nbsp;featuring curated landscaping, veggie boxes, intimate seating areas and spaces for relaxed gatherings. Sustainability has also been integrated into the project through a 7-star energy rating and two secure bicycle facilities for every residence.

[smartcode_project:default project_id=140747 project_image_fid=367529]

Smith by Valli sits in the heart of one of Melbourne’s most established retail and hospitality strips, within walking distance of venues such as Falco Bakery, Carnation Canteen and Alimentari, alongside parks and everyday services. With a Walk Score of 99, the location reinforces the project’s positioning toward buyers prioritising walkability and access over car dependency.

With only a limited number of residences, Smith reflects growing demand for smaller, highly curated apartment developments that prioritise design quality, liveability, and connection to neighbourhood character.

[smartcode_project_cta:default project_id=140747]

Joel Robinson

Smith by Valli delivers design-led apartments to Melbourne’s inner north

<a href="https://www.urban.com.au/developers/far-east-consortium">Far East Consortium</a>’s 640 Bourke Street stands as a testament to&nbsp;<a href="https://www.urban.com.au/developments/melbourne-vic-3000">Melbourne</a>’s ability to bridge its storied past with a bold vision for the future.&nbsp;

Rising above the heritage-listed Eliza Tinsley building, the development reflects a broader shift toward adaptive reuse in the city, where historical assets are retained and reinterpreted as part of new residential development.

Designed by <a href="https://www.urban.com.au/architects/rothelowman">Rothelowman</a>, <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> incorporates the Eliza Tinsley building as its foundation, housing a grand gallery and lobby space that serve as both a functional and symbolic centrepiece. The heritage façade informs the tower’s design, creating a connection between Melbourne’s past and its contemporary skyline.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=365684]

Above this historic base, the 68-storey tower will deliver just over 600 residences, a notable reduction from earlier schemes, reflecting a deliberate move toward larger-format apartments and a stronger owner-occupier focus.

Unlike traditional CBD developments that prioritised investor stock, 640 Bourke Street has been repositioned to respond to changing buyer expectations.

"The discussion was all around making 640 Bourke Street the best residence to live in, to be much more focused on the people in the building rather than people looking at the building," Marsland explained.&nbsp;

This shift is evident in the development’s interiors, which emphasise practical luxury with spacious layouts, high ceilings, and floor-to-ceiling windows framing sweeping views of Melbourne and Port Phillip Bay.&nbsp;

“What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Lauren Sheldon, Far East Consortium’s Director of Sales and Marketing, said.&nbsp;

[smartcode_project:default project_id=509 project_image_fid=365687]

Rothelowman Associate Jun Chang added, "We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."&nbsp;

Amenities spanning more than 3,000 sqm across multiple levels further reinforce this focus on resident experience. These include a pool, gym, co-working areas, and a range of hospitality-inspired spaces such as a whisky lounge, library, and private dining rooms, many drawing reference from traditional bathhouses and Melbourne’s laneway culture.

"We wanted to make both the pool and the gym area to be absolutely destinational, and when you traverse across to these spaces, there is a gentle familiarity to the beautiful notions of the hammams and the Roman baths, a gentle nod to history," Chang noted.

At street level, the project contributes to the ongoing transformation of the western CBD, with upgrades to Langs Lane and the introduction of retail, hospitality, and gallery spaces designed to activate the precinct and strengthen its connection to the surrounding city fabric.

[smartcode_project:default project_id=509 project_image_fid=365689]

The location places residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market, and the Docklands waterfront, positioning the development within a rapidly evolving inner-city neighbourhood.

"We believe it's the best site left in the city of Melbourne," Craig Williams, Executive Director at Far East Consortium, said.&nbsp;

640 Bourke Street is Far East Consortium’s 14th building in Melbourne’s western CBD.

"A very elegant designed building. It's going to be a Melbourne statement for many, many years to come."

One-bedroom apartments are priced from around $640,000, with 640 Bourke Street targeting completion in 2029.

Renders shown are Artist's Impressions correct as of May 2026.

[smartcode_project_cta:default project_id=509]

Heritage-led design anchors Far East Consortium’s 640 Bourke St, Melbourne

<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.

The sale equates to around $37,500 per sqm.

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.

Selling agent Freddie Tehle of PRD Burleigh Heads said the result reflects tightening supply of high-quality, large-format apartments in Burleigh.

“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.

“Buyers are increasingly seeking apartments that genuinely replace a standalone home, and this penthouse delivers that with its size, privacy, and direct ocean frontage.”

[smartcode_project:default project_id=146358 project_image_fid=323057]

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.

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.

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.

“Real estate, particularly at the premium end, remains one of the most resilient and proven long-term investment avenues,” Mould said.

“Our ambition is that anyone who buys a MAYD-built product can genuinely feel the care, craftsmanship and commitment we bring to every detail.”

[smartcode_project:default project_id=146358 project_image_fid=323055]

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.

Interior designer Sici Design said the approach was to reflect the project’s coastal setting through both materiality and spatial planning.

“ONE Burleigh is our vision of luxury living, designed to bring the essence of Burleigh Heads' vibrant coastal beauty into an unparalleled residential experience.”

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.

[smartcode_project:default project_id=146358 project_image_fid=323052]

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.

Mould said the design intent was to balance that outlook with a sense of retreat.

“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.”

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.

[smartcode_project_cta:default project_id=146358]

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

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.

Developer BIG Projects brought in the renowned Sydney-based design studio YSG Studio to craft the interiors for The Frederick, BIG Projects' new Mermaid Beach project and YSG Studio's first move into the multi-residential development space.

[smartcode_project:default project_id=110588 project_image_fid=5346]

It was a strategic move for BIG Projects to bring in a Sydney eye to the development.

“Our role is to give our design partners the space and freedom to explore,” says Matt Barrett, Director of BIG Projects.

“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.”

There are only 39 apartments in The Frederick, including a striking beach house, just 100 metres from the booming Nobby Beach precinct.&nbsp;

[smartcode_project:default project_id=110588 project_image_fid=5347]

Yasmine Ghoniem, Director of YSG Studio, says their vision&nbsp;for The Frederick "reinvents coastal living."

“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.

"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.”

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.

[smartcode_project:default project_id=110588 project_image_fid=5360]

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.

“The rooftop was conceived as a collection of spaces where residents can unwind and connect, an extension of the Nobby’s lifestyle,” Barrett says.

Architecture for the project was led by Plus Studio, with landscape design by LDG Landscape Architecture.

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.

"They’ve reviewed a number of projects, however this one has stood out for its unique detailing and compelling design,"&nbsp;Clydsdale says.

Site demolition is slated for this month, with construction commencing soon after. BIG Projects is targeting a late 2027 completion.

[smartcode_project_cta:default project_id=110588]

Sydney’s YSG Studio makes Gold Coast multi-residential debut with BIG Projects at The Frederick

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;

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;

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;

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;

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;

<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" />

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;

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;

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;

ALTA Property was launched by Nigel Givoni in 2023, bringing over 25 years of experience in multi level residential delivery.&nbsp;

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;

<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" />

For ALTA Property Founder Nigel Givoni, this performance speaks to the confidence he has in the Melbourne market.&nbsp;

“Queens Road represents a rare opportunity to continue to shape our presence in the Melbourne market.,"&nbsp;Givoni says.

"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.

“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."

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.

"We are really looking forward to the market’s response,” he said.&nbsp;

ALTA Property to deliver $200 million Queens Road apartment tower

Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.

They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;

Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.

They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.

Even in the low seasons of May and June, occupancy levels reach around 40 per cent.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor

Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.

<img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" />

Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" />​

The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;

Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.

With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;

Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.

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

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Perth house rents increased annually for the first time in half a decade, according to the latest research from Domain.
House rents increased 2.9 per cent over the quarter and year to $360 per week, while rental yields increased 1.2 per cent over the quarter and 5.5 per cent over the year to 4.34 per cent. 
Unit rents remained steady over the quarter and year at $300 per week.
Unit rental yields however, improved 2.7 per cent over the quarter and 9.0 per cent over the year to 4.75 per cent.
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Domain research analyst, Dr Nicola Powell said all signs point to a turnaround in Perth’s rental market.
"Demand for rental accommodation will be supported by an improving jobs market and local economy, giving residents greater incentive to stay and new residents reason to relocate west.”
“As 2018 unfolded, Perth began to experience a broad tightening of the rental market. The key drivers were fewer rental listings, slowing construction of new apartments and stable population growth. If this continues, competition between tenants may start to emerge, which has most likely already begun for house rentals. Investors will find Perth a more attractive option as they seek better yields and growth prospects, particularly given falling property prices in the east coast,” she concluded. 
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j.ballantyne1990-6AQqhLzZaK

Perth house rents increase annually for the first time in 5 years: Domain

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Adelaide is no longer the most affordable capital city to rent a unit, according to the latest research from Domain.
Perth is now the most affordable at $300 per week, $10 cheaper than in Adelaide.
Domain found, Adelaide house rents increased 1.3 per cent over the quarter and 2.7 per cent over the year to $380 per week, while rental yields decreased 0.2 per cent over the quarter and 0.8 per cent over the year to 4.45 per cent. 
Adelaide unit rents increased 3.3 per cent over the quarter and 5.1 per cent over the year to $310 per week.
Rental yields improved 1.2 per cent over the quarter and 3.4 per cent over the year to 5.25 per cent. 
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Domain research analyst, Dr Nicola Powell said Adelaide house and unit rents are now at record highs, "but unit rents are growing faster than houses.“ “Demand for Adelaide rentals is being driven by continued employment growth as well as increased overseas migration, which has hit an eight-year high.
Greater competition between tenants could see rents edge higher in the short to medium term. The number of residents leaving the state is also at a near three-year low,” she concluded.
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Adelaide is no longer the most affordable capital city to rent a unit: Domain

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For the first time in 11 years the cost of renting a house in Canberra is now higher than Sydney, according to the latest data from Domain.
The difference in weekly house rents between Canberra and Sydney has jumped to $20.
Canberra house rents increased 1.8 per cent over the quarter and 3.7 per cent over the year to $560 per week, while rental yields improved 1.4 per cent over the quarter and 0.6 per cent over the year to 4.36 per cent. 
Unit rents increased 3.3 per cent over the quarter and 8.1 per cent over the year to $465 per week.
Rental yields also improved 1.3 per cent over the quarter and 6.9 per cent over the year to 6.02 per cent. 
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Domain Senior Research Analyst, Dr Nicola Powell said, “the nation's capital provided the second strongest annual growth of all the capital cities, although the pace has eased from the double-digit growth recorded mid-year. Unit rental prices have not been hit by the record levels of new development, experiencing the strongest annual growth the city has seen in almost two years.
“House rental listings have been shrinking for three years and unit listings have declined for just over a year on an annual basis. This has resulted in a five-year low of advertised rentals for a December quarter, a concerning scenario given we’ve now entered the peak rental period."
“A number of factors have contributed to Canberra’s rental boiling point. New residents continue to be lured from interstate and overseas by greater job prospects and the city’s growing and reputable university sector, while, transient contract workers are attracted by the major infrastructure projects underway. The high-income earning workforce has also helped to drive rents higher, making it increasingly unaffordable for lower income households.
"Investors are being slugged with higher rates and land taxes, and it is likely landlords are passing on the additional costs to tenants, or opting for high yielding short-term leases in order to recover costs. Rental yields may appear to be the highest in the nation, however, landlords are faced with higher holding costs compared to other jurisdictions,” she concluded.
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Canberra now the most expensive capital city to rent a house: Domain

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Melbourne house and unit rental prices continue to rise, with both achieving new record highs, according to the latest research from Domain.
Domain found Melbourne house rents increased 2.3 per cent over the quarter and 3.5 per cent over the year to $440 per week, while rental yields improved 1.4 per cent over the quarter and 4.4 per cent over the year to 3.20 per cent. 
Unit rents remained unmoved over the quarter, but increased 2.5 per cent over the year to $410 per week.
Unit rental yields improved 0.7 per cent over the quarter and 2.7 per cent over the year to 4.41 per cent. 
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Domain Senior Research Analyst, Dr Nicola Powell said, “despite a large pipeline of new apartments hitting the rental market in recent years, competition has been driven by strong population growth. However, with interstate and overseas migration slowing from their historical highs, we could see demand soften over the longer term.”
“Gross yields have improved, suggesting rental prices are holding firmer relative to property values. This improvement may not be enough to entice investor activity, given that the prospects of short-term capital gains are minimal. High purchasing costs mean gross yields are low, suggesting many investors have been attracted by the previously strong capital gains or the tax benefits of negative gearing,” she concluded
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Melbourne house and unit rents at record high: Domain

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Available Brisbane rental stock has been sliding since the end of 2017, and is now at a three and a half year low, according to the latest research from Domain.
House rents increased 2.5 per cent over the quarter and year to $410 per week, while rental yields declined 0.3 per cent over the quarter but increased 1 per cent over the year to 4.62 per cent. 
Brisbane unit rents increased 1.3 per cent over the quarter and 2.7 per cent over the year to $380 per week.
However, rental yields declined 0.2 per cent over the quarter but improved 3.7 per cent over the year to 5.12 per cent.
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“If rental stock keeps shrinking, greater competition between tenants will emerge, putting further upward pressure on rental prices, a marked change given the prolonged period of stability," Domain research analyst, Dr Nicola Powell said.
"House and unit rents are already displaying a higher pace of growth relative to last year, with houses recording the first positive movement and units the strongest gain on an annual basis in roughly three years.”
“Population growth in the sunshine state has been driven in fairly equal measure by natural increases, interstate migration and overseas migration. Queensland is the only state or territory to have such balance, which has helped to support a broad-based demand for housing. Job prospects, an improving economy and greater housing affordability continues to lure residents from NSW and Victoria.”
“Given property prices have fallen in Sydney and Melbourne, investors have already started to find Brisbane a more attractive option as they seek better yields and growth potential. Investors will be further enticed north as rental prices and gross yields continue to improve,” she concluded.
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Brisbane rental stock at a three year low: Domain

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National residential listings declined 9.2% in December 2018 to 328,203 from 361,619 in November 2018, according to SQM Research.
It noted that the stock reduction in all cities was expected during the festive and summer break, however, the decline in Sydney, Melbourne and Canberra were larger than expected.
Residential listings were down on November in Sydney 17.7%, Melbourne 17.2% and Canberra 15.5%.
Hobart recorded the smallest monthly decline at 5.8%.
But compared to a year earlier, national listings were up 2.8%, with Sydney, Melbourne and Canberra’s year-on-year listings up the most - Melbourne up 25.4%, Canberra 19.3% and Sydney up 16.5%.
Hobart on the other hand experienced a yearly decline of 5.8%, with residential property listings dropping from 2,426 in December 2017 to 2,286 in December 2018.
Adelaide and Darwin also experienced yearly declines of sale listings at 4.1% and 2.9%, respectively.
<img src="https://www.urban.com.au/images/2019/1/8/SQM%20Table%201.JPG" alt="">
(Source: SQM Research)
Louis Christopher, managing director of SQM Research, said listings in December had some large falls however, let us keep in mind there was a surge in listings recorded in November and that December traditionally records a large fall in properties for sale as this is a holiday period.
“Our view remains in place that prices will likely fall in Sydney and Melbourne over the course of 2019.
"We note however that Melbourne house asking prices increased during the month by 0.3% as did unit asking prices in Sydney 0.7%.
"I also note that national listings are now only up 2.8% for the year, indicating that regional centres may well have outperformed the major capital cities in 2018.”
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
Asking prices were a different story as capital city asking prices rose 0.4% for units to $571,600 but declined 0.9% for houses to $924,500, for the month to 31 December 2018.
The largest monthly rise came from Canberra, where house asking prices rose 2.5%. However, Unit asking prices in Canberra declined by 1.1%.
Sydney recorded the highest increase in Unit asking prices of 0.7% but the largest decline in House asking prices of 1.6% over the month.
Year-on-year asking price gains were the strongest in Canberra for both houses and units, with house prices rising by 3.4% and Units by 7.9%.
Year-on-year prices fell in Sydney, Darwin and Perth for both houses and units.
Brisbane and Hobart recorded increases in house asking prices but unit prices declined year-on-year.
This was reversed in Adelaide and Melbourne which recorded decreases in house prices but increases in unit asking prices over the year.
<img src="https://www.urban.com.au/images/2019/1/8/SQM%20Table%202.JPG" alt="">
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December 2018 national residential listings sat higher than December 2017: SQM Research

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EXPERT OBSERVER
Here’s the dumbest question an investor can ask: is this a good time to buy real estate?
The question shows a fundamental and dangerous lack of understanding about property.
A much smarter question is: WHERE is it a good time to buy real estate? Because in a nation as large and as diverse as Australia, at any point in time it’s a good time to buy somewhere. The trick is finding those locations where it’s opportune to buy.
I find myself constantly explaining to consumers that there is no such creature as “the Australian property market”. People think there is because the media keeps telling them there is, aided and abetted by economists who see everything nationally.
The headlines keep proclaiming that “Australian property prices” are falling, because those who think nationally describe housing market growth or decline with a single figure to measure the entire nation.
It’s a ludicrous proposition and one that misleads and misinforms consumers.
So here we are again at the start of a new year and it’s opportune once again to tell people that the essence of success in property investment is understanding that we don’t have one market in Australia.
We have lots of markets and your objective is to avoid the ones which are in decline and locate the ones that are rising or will soon do so.
Fortunately, this is not difficult – so long as you can kick the newspaper reading habit and conduct proper research and acquire real knowledge.
If you’re willing and able to do that, you’ll be miles ahead of the herd and one of the relatively few who will succeed in this business.
If you’ve been searching for predictions on likely outcomes in 2019 – and you’ve been using mainstream media as your primary source – you’ll be massively confused and misinformed, because newspapers and other tabloid media like the ABC have featured only those who have forecast major and widespread price decline.
The vast majority of forecasters – the calm, sensible, rational ones like BIS, Domain, SQM Research, Propertyology and most of the major lenders – have predicted fairly optimistic outcomes in 2019 and 2020. But few of the major newspapers have published their forecasts.
A common theme among the credible forecasters is that Sydney and Melbourne will bottom out in the middle of 2019 and gradually return to moderate price growth, while the smaller capital cities will show growth this year ranging from moderate to strong.
Very few bother with the regions – which is a shame because the biggest price growth in 2018 was in regional areas and this is likely to be the case again in 2019.
One who does look at the regions as well as the capital cities and presents sensible forecasts based on research is Simon Pressley of Propertyology.
Like Louis Christopher of SQM Research, Pressley presents three scenarios in his forecasting, which relate to different outcomes with the lending environmental.
His scenario which assumes lenders returning to “sensible credit policies” in the first quarter of the year (which I think is likely) has Hobart again leading the capital cities on price growth, with rises of up to 10%.
He sees Perth making a solid recovery, with house prices up by between 4% and 7%. He also expects Canberra, Adelaide and Brisbane to be good markets with price growth up to 5-6%.
He expects Melbourne to bottom out during with the year, with only moderate price decline, and Sydney falling a further 3-6%.
I note that Domain published broadly similar forecasts for 2019 recently and I think Pressley is pretty much on the mark, although I think Adelaide will do better than he predicts and that Hobart growth will be less, because I think that market is past its peak. 
Propertyology believes regional centres in the resources states Western Australia and Queensland will be among the best-performing markets this year. Pressley suggests the Sunshine Coast and Cairns will lead in Queensland, with big improvement also in Townsville, Mackay, Rockhampton and Toowoomba.
In WA he likes Albany, Busselton and Margaret River, with Pilbara towns strong also. As always, I urge caution with any market where the mining sector dominates the local economy.
In regional NSW he likes Wagga Wagga, Armidale, Tamworth, Bathurst, Parkes and Muswellbrook, while in regional Victoria he favours Ballarat, Bendigo, Shepparton, Warrnambool and Bairnsdale.
I can’t disagree with much of that. Propertyology and Hotspotting use different methodologies but we often arrive at the same conclusions.
Terry Ryder is the founder of hotspotting.com.au
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terryryder-YECXbqmri2

Where is it a good time to be buying property in 2019: Hotspotting's Terry Ryder

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<div>EXPERT OBSERVATION</div>
<div> </div>
<div>It's a happy new year, and all that, but not so much for bankers, with lending growth continuing to flounder. </div>
<div> </div>
<div>The Reserve Bank's latest figures showed credit growth slowing to 4.4 per cent, down from 5.2 per cent a year earlier, and broad money growth at fresh quarter-century lows of just 1.86 per cent. </div>
 
<div class="separator"><img src="https://1.bp.blogspot.com/-1I8fNGCXk6k/XCqUFoyKJPI/AAAAAAAAtsc/xXakammeXQAlHhvGQp9I_UB9FnMLp02cwCLcBGAs/s640/RBA1.jpg" width="640" height="370" data-original-height="801" data-original-width="1383"></div>
 
<div class="separator"> </div>
<div>It was noteworthy to hear last week that the RBA has been watching the gross household debt-to-income ratio as a main point of concern, especially as <a href="http://petewargent.blogspot.com/2018/12/debt-ratio-revised-lower-now-falling" target="_blank">this ratio has already peaked and is now falling</a>. </div>
<div> </div>
<div>The distinction from housing debt-to-income was quite interesting (to me at least) as the lines between housing, small business, and personal credit are blurred at best, with small business loans often secured against a home, and so on. </div>
<div> </div>
<div>As you can see in the chart below, changes in the direction of housing credit growth have tended to lead changes in dwelling price growth. </div>
<div> </div>
<div>You can also see that no such change had occurred by the end of November 2018. </div>
 
<div class="separator"><img src="https://1.bp.blogspot.com/-Dqi23bcB6-Q/XCqUHZwLEgI/AAAAAAAAtsg/RKoxndSCpVUL5OIvz-ZGLEb4G8XspSL5gCLcBGAs/s640/RBA3.jpg" width="640" height="378" data-original-height="795" data-original-width="1346"></div>
 
<div>A simple credit impulse model as favoured by ANZ economists suggests that capital city (i.e. Sydney and Melbourne) dwelling price declines should moderate, although there are several factors unique to this cycle - not least the boom and bust in Chinese investors - that could throw the model a bit off course (this may have already happened to some extent since 2014). </div>
 
<div class="separator"><img src="https://2.bp.blogspot.com/-hg19s7pQfzU/XCqUE6b5LmI/AAAAAAAAtsY/pvq8s6-v7MEhCHqgIJamHA7GeoF0vQUcQCLcBGAs/s640/RBA2.jpg" width="640" height="374" data-original-height="787" data-original-width="1341"></div>
 
<div>Investor credit growth was already at the lowest level on record, and it fell to even lower levels last month, allowing APRA to remove another of its now-redundant arbitrary caps, this time on interest-only lending. </div>
<div> </div>
<div>Given the enormous growth in the population aged 25 to 34 in particular, this is now a remarkably low level of growth in investor credit, even if it did follow on from a boom. </div>
<div> </div>
<div class="separator"><img src="https://4.bp.blogspot.com/-LmCPOkyIAMs/XCqUDn5r1zI/AAAAAAAAtsU/43fTNK6yncENxThK3etijkbED9oHjaPAgCLcBGAs/s640/RBA.jpg" width="640" height="366" data-original-height="803" data-original-width="1402"></div>
 
<div>Not surprisingly the growth in owner-occupier credit also declined for a ninth consecutive month.</div>
<div> </div>
<div>CoreLogic will release its latest home value index for the month of December, and this will show significant declines for Sydney and Melbourne in 2018. The wrap In short, business credit was moderate, personal credit was negative, and housing credit has no pulse - let's hope that doesn't turn into a full-blown coronary.</div>
<div> </div>
<div>Happy New Year! </div>
<div> </div>
<div>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and blogger.</div>
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pwargent-M4siyDbqQY

2018 finishes with housing credit having no pulse: Pete Wargent

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JD Sports Fashion has opened in Sydney’s Pitt Street Mall at 400 George Street.
The successful fashion retailer signed a 10-year lease for 1,200 sqm of space across both the ground floor and level one.
The ground floor is functioning as a sporting footwear department store, while the upper level showcases a range of sports clothing and active wear.
Michael Cook, Group Executive, Investa said, the new JD Sports store located within 400 George Street and fronting Pitt Street Mall was the perfect fit.
"If the first few weeks are any guide, JD Sports will emerge as one of the strongest retailers in the city,” he said.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/12/20/JD%202.jpg" alt="">
400 George Street is a 51,000 sqm office and retail complex located in the centre of the Sydney CBD.
Adjoining the office building, Sydney Arcade incorporates over 5,500 sqm of retail space and accommodates leading Australian and international retailers such as Hugo Boss, Telstra Discovery Centre, Mont Blanc and a Woolworths Metro store.
Leasing agent, Alex Alamsyah of Knight Frank completed the leasing transaction in conjunction with Invest.
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JD Sports opens in Pitt Street Mall

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EXPERT OBSERVER
Taking a blanket approach when implementing major policies unfairly undermines already weak property markets.
Western Australian Treasurer Ben Wyatt complained to the Australian Prudential Regulation Authority (APRA) that lending restrictions introduced across Australia by commercial banks were hurting the Perth property market and wider economy.
The restrictions were introduced to tighten investor lending in Sydney and Melbourne, but the effect has been felt Australia-wide, particularly in the weaker economic states, and Perth prices, which had stabilised, are once again falling.
The WA Treasurer’s complaints were “very unsurprising” but “expected when you apply a blanket approach to reforms across Australia”.
And this will also be one of the unintended consequences of Labor’s proposed changes to negative gearing and capital gains tax which they will introduce if they are elected into power at the upcoming federal election, which is very likely.
Overall the Perth property market had experienced continued weakness in recent years due to poor economic growth following the end of mining boom, a soft job market creating very slow population growth and, in some areas, oversupply of units.
Click here <a href="https://www.propertyobserver.com.au/images/2018/12/19/Perth1.jpg" target="_blank">to enlarge</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/12/19/Perth1.jpg" alt="">
This weakness in the market has been reflected in negative growth for both houses and units over the past five years.
Click here <a href="https://www.propertyobserver.com.au/images/2018/12/19/Perth2.jpg" target="_blank">to enlarge</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/12/19/Perth2.jpg" alt="">
People have been hoping for a few years that the market would reach the bottom but unfortunately this has not been the case.
Its economic growth has only been 0.9 per cent which means, relative to the other states, WA's overall economy is the weakest in Australia.
It was clear that applying a blanket approach across Australia when it came to the implementation of major policies did not work.
RiskWise and WargentAdvisory’s report in June into the Impact Analysis: Negative Gearing, CGT &amp; Australia’s Residential Property Markets clearly demonstrated the impact the proposed changes would have on weaker economies, Perth being one of them.
Every time there is a major policy or strategy introduced the potential consequences of it need to be assessed at the capital city level as well as the regional level (i.e. at the Statistical Area Level 4, or SA4 level), otherwise there will be unintended consequences, as you can’t expect not to have a major impact on weak areas.
The drop in property prices in Perth due to the credit restrictions is a very clear warning sign of what will happen in that property market and other weaker markets (outside Sydney and Melbourne) if a blanket approach for changes to negative gearing and capital gains tax is implemented.
In such cases the government needs to consider measures to boost demand. We identified these in our report and they include such things as further concessions for first home buyers and lifting restrictions for foreign investors in those areas. 
Government at both the state and federal level need to support these weaker markets by devising incentives for them such as increasing infrastructure to boost the economy and job creation and, therefore, population growth.
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