Breaking into the Sydney property market has long felt out of reach for many first home buyers, particularly as median house prices sit above $1.6 million and unit prices push beyond $900,000.

But entry points still exist in pockets of Greater Western Sydney, where pricing, government incentives, and product mix are aligning to make ownership more attainable.

Understanding where those opportunities sit, and how the numbers actually stack up, is becoming increasingly important for buyers weighing up their next move.

<h2>Work out what you can actually afford</h2>

Sydney is expensive, but it isn’t uniformly expensive. The Greater Parramatta region continues to offer comparatively accessible entry points, particularly for buyers open to alternative configurations like studios.

There's an assumption that a first home needs to be a certain size, that anything smaller than a one-bedder is a concession rather than a choice. That assumption doesn't hold up against what well-designed studios in the right location actually offer: immediate liveability, strong urban amenity, and a price point that makes the deposit target realistic rather than theoretical.

At <a href="https://www.apartments.com.au/buildings/mason-main-merrylands-249-259-merrylands-road-merrylands-nsw-2160">Mason &amp; Main</a>, <a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a>'s multi-award winning precinct in Merrylands, studio apartments are unlike the typical studio configuration.

Starting from $498,000, the bedroom is fully enclosed, separated from the living area by a cavity sliding door, creating a genuinely private sleeping space that functions more like a one-bedroom apartment than a traditional open-plan studio.

[smartcode_project:default project_id=31751 project_image_fid=359814]

At 42 sqm internally, with an open-plan kitchen, built-in robes, modern bathroom, and separate laundry, the apartments are designed for everyday liveability rather than short-term use.

With a five per cent deposit under the Federal Government's First Home Guarantee, that equates to a deposit of around $24,200, achievable for many first home buyers without the added cost of Lenders Mortgage Insurance.

<h2>Understand the real cost of renting versus buying</h2>

For buyers weighing up the shift from renting to owning, the numbers are closer than many expect.

Here’s how the numbers stack up for a studio at Mason &amp; Main (based on a $498,000 purchase):

<ul>
	<li>Purchase price: $498,000</li>
	<li>Five per cent deposit (First Home Guarantee): ~$24,900</li>
	<li>Loan amount: ~$473,100</li>
	<li>Estimated mortgage repayment (6.29% variable, 30-year term): ~$675–$695/week*</li>
	<li>Estimated rental return: $590–$620/week*</li>
</ul>

At this level, the gap between renting and owning is relatively narrow, particularly when factoring in long-term equity, with rental returns also making the apartments a viable option for investors.

The rental range reflects current asking rents for remaining studio stock in the development and, based on prevailing asking prices, equates to an indicative gross rental yield of around 5.8 to 6.2 per cent.

For buyers seeking more internal space, Mason &amp; Main also offers a range of one-bedroom apartments from $629,000, alongside larger one-bedroom plus multipurpose room configurations priced from $680,000 - all priced under $800,000 and eligible for first home buyer incentives.

<ul>
	<li>Purchase price: $629,000</li>
	<li>20 per cent deposit: ~$125,800 (5% deposit on exchange: $31,450)</li>
	<li>Loan amount 80%: ~$503,200</li>
	<li>Estimated mortgage repayment: ~$720–$740/week*</li>
	<li>Estimated rental return: $650–$680/week*</li>
</ul>

One-bedroom apartments continue to present a balanced option for both owner-occupiers and investors, supported by steady rental demand across Western Sydney.&nbsp;

[smartcode_project:default project_id=31751 project_image_fid=359812]

<h2>Make sure you're across the government incentives</h2>

Government incentives continue to play a key role in reducing the upfront cost barrier.

At Mason &amp; Main, studio, one, and two-bedroom apartments are priced under $800,000, allowing eligible buyers to access a full stamp duty exemption under the NSW First Home Buyers Assistance Scheme.

On a $498,000 purchase, that represents a saving of roughly $17,900 that would otherwise need to be paid at settlement.

Combined with the First Home Guarantee, which enables purchases with as little as a five per cent deposit, the total capital required to secure a home is significantly reduced compared to traditional lending pathways.

<h2>No waiting, no uncertainty</h2>

For first home buyers who want to move sooner rather than later, Mason &amp; Main removes one of the more common pain points from the purchase process entirely. The development is already complete and move-in ready, meaning buyers can walk through the apartments, inspect the finishes, and have full certainty about what they're purchasing before signing anything.

Coronation brought in renowned architecture firm <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> to design the development.&nbsp;

"The project's design drew inspiration from the area's rich heritage, in particular the nearby brickworks and aqueduct, infusing a contemporary perspective to seamlessly integrate historical influences into the design," Woods Bagot Principal Dom Alvaro says.

[smartcode_project:default project_id=31751 project_image_fid=736]

<h2>Factor in location and lifestyle</h2>

Beyond the apartment itself, the surrounding infrastructure matters, particularly for a first purchase. Merrylands Station sits 350 metres from the development, putting the Parramatta CBD a five-minute drive away and the Sydney CBD roughly 25 minutes via the Western Line. Directly across the road is Stockland <a href="https://www.apartments.com.au/developments/merrylands-nsw-2160">Merrylands</a>, one of Greater Western Sydney's major retail centres.

At street level, Mason &amp; Main's own retail and dining precinct has more than 30 tenants trading, including Iftar, Macelleria, Hayat, San Churro, Yuzu, and Fat Jaks. Residents also have access to a resort-style pool, a Technogym-equipped gym, private dining rooms, and a rooftop terrace with panoramic views across Parramatta, the Sydney CBD, and the Blue Mountains, all exclusive to the building.

Due to the mix of configurations, including studios which are rarely offered in today's new apartment market, first home buyers and investors have driven Mason &amp; Main to over 90 per cent sold.

Coronation Property Managing Director Joe Nahas says the development is driving a revitalisation of Merrylands, setting a high standard for future developments in the area.

Mason &amp; Main is move-in ready and is the latest in a series of award-winning mixed-use developments by Coronation Property.

Disclaimer: Mortgage repayment figures are estimates only, based on a 6.29 per cent variable rate over a 30-year term (Canstar, April 2026). Pricing and rental estimates are indicative and based on current listings and project information. Gross yield figures are indicative and derived from asking prices and estimated rental ranges. Stamp duty savings are indicative only. Buyers should seek independent financial and legal advice before proceeding.

[smartcode_project_cta:default project_id=31751]

Joel Robinson

How first home buyers can enter the Sydney property market for under $500k

Australia’s housing debate has rarely been more urgent. The National Housing Supply and Affordability Council forecasts the country could fall around 262,000 homes short of housing needs by 2029, underscoring the scale of the challenge facing planners, governments and developers.

In response, much of the conversation has centred on high-density towers around transport corridors and strategic centres.

Diversified developer Coronation Property, while also focused on well-located, strategic sites, is incorporating an arguably underutilised typology, the terrace.

Difficult to integrate into true high-rise developments, terraces have become a defining feature of Coronation’s lower-rise portfolio, including projects in Ashbury and Erskineville. <a href="https://www.apartments.com.au/buildings/ashbury-terraces-165-171-milton-street-ashbury-nsw-2193">Ashbury Terraces</a> places a stronger emphasis on this housing type, forming part of a broader community mix.

At its Erskineville development, <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, terraces are more limited, with just a handful&nbsp;included within the wider, predominantly apartment-led precinct, one of the first developments to launch in Erskineville in several years.

[smartcode_project:default project_id=135149 project_image_fid=368392]

Terrace residents at Lillian benefit from many of the same advantages as apartment owners, the lock-up-and-leave lifestyle and access to shared amenities like the rooftop wellness space, but with significantly more space.

Spanning multiple levels, the terraces also feature front and rear courtyards, providing direct access to the central landscaped gardens within the precinct.

<h3 data-end="212" data-section-id="1n97jye" data-start="191">The terrace model</h3>

Terrace housing has long been part of Australia’s urban fabric. From Paddington and Surry Hills to Glebe and Annandale, rows of terrace homes have shaped neighbourhood streets, offering a housing form that sits between detached houses and apartments.

The contemporary terrace, however, addresses many of the limitations of older designs, where narrow staircases and constrained layouts often compromised liveability.

[smartcode_project:default project_id=135149 project_image_fid=368157]

“Terraces represent one of the city’s most intelligent housing models,” says Joe Nahas, Managing Director of Coronation Property.

“They deliver density without losing the human scale that makes neighbourhoods liveable. In many ways, they provide a bridge between the Sydney we know and the Sydney we need to build. If Sydney is going to grow well, it can’t rely on towers alone.”

<hr data-end="1090" data-start="1087" />
<h3 data-end="1124" data-section-id="1a7l0gw" data-start="1092">The evolution of the terrace</h3>

That thinking has shaped Coronation’s approach at Ashbury Terraces, where the terrace typology has been reinterpreted for modern living.

Designed by SJB, the project recently received recognition at the 2026 Better Future World Design Awards, acknowledging its architectural clarity and response to the surrounding suburban context.

SJB Director Adam Haddow says the intent was to evolve a familiar housing form rather than reinvent it.

“The terrace is one of Sydney’s most familiar housing forms, so our approach at Ashbury was to reinterpret that typology in a contemporary way,” Haddow says.

“The homes are designed to sit comfortably within the existing neighbourhood while introducing more light, landscape and shared spaces that support modern living.”

Ashbury Terraces combines terraces, apartments and penthouses across a series of low-rise buildings, integrating contemporary architecture with landscaped communal spaces and resident amenity.

That same typology is now being carried into Coronation’s Lillian development in Erskineville, where a smaller number of terraces sit within a predominantly apartment-led precinct.

<hr data-end="2269" data-start="2266" />
<h3 data-end="2289" data-section-id="cazuws" data-start="2271">Buyer response</h3>

Coronation’s decision to include terraces at Lillian was informed by strong buyer feedback from Ashbury Terraces, where purchasers were drawn to the flexibility and scale the housing type offers.

One resident, Sweta Pursem, purchased a terrace as a single buyer, citing its long-term versatility.

“As a single buyer, it might seem surprising that I chose a terrace over an apartment, but I was thinking long term,” Pursem says.

“The terraces are incredibly versatile, catering to a range of lifestyles while still offering the space and privacy of a house.”

For Pursem, the multi-level layout provides a level of functionality not typically found in apartment living.

“Having a separate living area from the bedroom and home office makes everyday living feel both functional and comfortable. When friends and family come to visit, the layout gives a sense of privacy while still feeling open and spacious.”

Her terrace also supports a more connected, lifestyle-driven way of living.

“I love entertaining, and the courtyard is ideal for relaxed weekend drinks with friends. I tend to use each level differently throughout the day, it creates a natural rhythm between work, downtime and entertaining, which I didn’t have in apartment living.”

Ashbury Terraces is now complete and ready to move in, while Lillian in Erskineville is under construction and expected to welcome residents in mid-2027.

Coronation champions terraces as a key piece of Sydney’s housing mix

Private equity real estate firm Conquest has entered into a $220 million partnership with Woolworths’ development arm, Fabcot, to deliver its long-awaited Waterloo project on Bourke Street.

The Bourke Street development was first flagged by Fabcot back in 2021 as part of its push into Sydney’s residential market. However, progress has since stalled, with no activity on site amid a number of design revisions in consultation with the City of Sydney.

<a href="https://www.apartments.com.au/developers/conquest">Conquest</a>, which is actively planning more than $6 billion worth of new developments, predominantly mixed-use precincts, is now set to move the project forward.

The current plans include between 110 and 120 apartments across two buildings designed by Bates Smart at <a href="https://www.apartments.com.au/new-apartments/923-935-bourke-street-waterloo-nsw-2017">923 Bourke Street</a>. The scheme will incorporate a portion of apartments reserved for key workers, alongside premium commercial space at ground level, including a full-line Woolworths supermarket.

Construction is expected to commence in the second half of 2026.

Michael&nbsp;Akaawi, CEO of Conquest, said the partnership reflects the firm’s commitment to "convenience-led" urban renewal."

"We are preparing to commence construction in the second half of this year," Akaawi says.

"Along with Woolworths, we look forward to delivering the first major supermarket to the growing Waterloo community, integrated with premium new apartments and specialty retail shops. Our focus is on creating a seamless lifestyle hub where essential services are at the doorstep, saving residents time and enhancing their quality of life."&nbsp;

<img alt="Conquest" data-entity-type="file" data-entity-uuid="d8beee83-ef9b-446b-a3b3-1e2fe596512b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-01%20at%2011.08.46%E2%80%AFAM.png?VersionId=raYhGepiLUJfx4InLPRRJduA3ftDJ_kS" />

The news comes just a week after Conquest went to the NSW Government to upsize its plans for Castlecrag's Quadrangle Shopping Centre.

Conquest purchased the site for just shy of $70 million last year, with existing plans in place for a mixed-use residential and retail precinct comprising 38 luxury apartments.

Those plans have now been significantly expanded, with the developer lodging a State Significant Development Application with the NSW Government’s Housing Delivery Authority for 150 apartments across two 11-storey buildings. The apartments will sit above a four-storey podium, incorporating specialty retail tenancies and five levels of basement car parking, on the 5,166 sqm site at&nbsp;<a href="https://www.apartments.com.au/new-apartments/100-edinburgh-road-castlecrag-nsw-2068">100 Edinburgh Road</a>.

Conquest has been increasingly active in the development space in recent years. The group acquired the&nbsp;<a href="https://www.apartments.com.au/developments/eastlakes-nsw-2018">Eastlakes</a>&nbsp;Shopping Centre redevelopment, where it plans to deliver more than 1,000 apartments above a new retail precinct, and has also lodged a $900 million State Significant Development Application for a&nbsp;<a href="https://www.apartments.com.au/news/nsw/conquest-unveils-900m-stanmore-village-vision-for-landmark-inner-west-site">mixed-use precinct in Stanmore</a>.

Conquest partners with Woolworths to deliver mixed-use Waterloo project

A shift away from Sydney’s industrial past has left parts of the inner south defined by contrast, brick warehouses repurposed into dining precincts, former factory streets softened by landscaping and pedestrian activity.

Rosebery is one of those suburbs. Over the past decade, it has undergone significant gentrification, anchored by The Cannery, which has helped reposition the area as one of the inner city’s most sought-after lifestyle pockets.

What hasn’t kept pace with that transformation is new residential supply, which has remained relatively limited. Builder-developer Deicorp identified that gap early, securing a site in 2019 and delivering what is now one of the suburb’s most architecturally distinctive developments.

To realise the vision, Deicorp engaged Candalepas Associates to design The Rothschild, a project that is immediately recognisable from the street.

Completed in 2025, The Rothschild comprises two buildings across Rothschild and Mentmore Avenues, delivering 176 apartments. The development replaces a former industrial site, retaining a material and structural dialogue with its past while introducing a more resolved residential framework. The scale is deliberate but not monolithic, broken into forms that engage both street frontages, with retail at ground level and two levels of basement parking below.

[smartcode_project:default project_id=106843 project_image_fid=221665]

From the street, the architectural intent is clear. Off-form concrete columns run through the façade, establishing a repeated structural rhythm that gives the building its visual weight. These are paired with deep-set arches and sections of exposed brickwork, creating a layered elevation that reads less like a typical apartment block and more like a reinterpretation of industrial architecture.

The material palette is intentionally restrained, with concrete left exposed and brick used to define mass rather than decoration. The result is a building that stands out through proportion and repetition, rather than height or glazing.

This approach continues internally. A central landscaped courtyard sits between the two buildings, anchored by an olive grove that acts as both a visual and spatial focal point. Rather than functioning as residual space, the courtyard is designed as a shared ground plane, where circulation paths, seating areas and planting come together to create a usable communal environment. Its positioning allows natural light to penetrate deep into the site while maintaining separation between residences.

[smartcode_project:default project_id=106843 project_image_fid=221666]

Within the apartments, the planning follows a clear and functional logic. Entry points lead directly into open-plan living areas, with kitchens positioned as central elements alongside dining and lounge spaces. These zones extend to balconies or external openings, maintaining a visual connection to either the courtyard or the street.

Kitchens prioritise practicality, with generous bench space, ample storage and European appliances configured for everyday use. Bedrooms are typically set back from the main living areas, creating quieter zones within each residence, with separation achieved through layout rather than material change. Bathrooms are compact but efficient, incorporating mirrored cabinetry and integrated storage to maximise space. Across all residences, the emphasis is on clarity of movement and functional planning.

[smartcode_project:default project_id=106843 project_image_fid=221669]

At ground level, retail and hospitality uses extend the building’s presence beyond its residential function. A café or restaurant space, alongside communal amenities such as a music room and rooftop areas, positions the development as part of a broader urban network rather than a standalone project. These shared spaces reinforce a lifestyle where the building operates as an extension of the surrounding neighbourhood.

Rosebery’s proximity to Green Square, The Cannery and nearby parklands supports this model of living, where much of daily life is within walking distance. The Rothschild sits comfortably within that network, contributing to the streetscape through its distinctive architecture, while internally organising space around light, structure and communal use.

The Rothschild is now complete and ready to move in, with limited residences remaining.

[smartcode_project_cta:default project_id=106843]

The Rothschild reinterprets Rosebery’s industrial DNA into residential form

KTQ has unveiled&nbsp;<a href="https://www.apartments.com.au/new-apartments/casilia-16-marine-parade-coolangatta-qld-4225">Casilia</a>, the final residential release within the Kirra Point precinct which really kicked off the boom in the area back in 2019.

The final stage comprises&nbsp;87 residences and marks the culmination of a long-term, family-led vision for Kirra Point, as the precinct moves toward completion in tandem with the development.

Around $100 million in sales have been achieved already, close to 35 per cent of the residences secured ahead of launch. There have been a significant number of buyers returning from the first stage of the development, Miles Residences, securing another property within Kirra Point.

[smartcode_project:default project_id=152295 project_image_fid=368410]

Selling agent Tim Keenan from Keenan Byrne said the response reflects both the scarcity of the offering and Kirra’s growing reputation as a premium coastal market.

“This is effectively Kirra’s final act, the last release within what has become one of the Southern Gold Coast’s most tightly held beachfront precincts,” Keenan said.

“We’ve seen exceptionally strong pre-sale interest, from VIP waitlists through to off-market enquiry, which speaks to both the quality of the product and the confidence buyers have in the precinct. What’s particularly compelling is the number of buyers returning from Miles, either upgrading or investing again, which is a strong signal of how the precinct has been received."

Keenan adds that at the same time, north-facing beachfront remains exceptionally rare in Australia, limited to places like Noosa, Byron and Kirra, which is underpinning long-term value.

[smartcode_project:default project_id=152295 project_image_fid=368415]

Positioned along one of Australia’s few true north-facing beaches, Casilia offers a mix of two and three-bedroom residences with pricing ranging from $1.87 million to $7.15 million and two exclusive penthouses. Residences are oriented to capture varying outlooks, from uninterrupted Pacific Ocean views across Kirra Beach to hinterland vistas, with upper levels and shared amenity taking in sweeping perspectives along the Gold Coast coastline.

At rooftop level, a north-facing pool deck captures expansive, uninterrupted views over Kirra Beach and north towards Surface Paradise. The space incorporates a heated resort-style pool, mineral spa, sun lounges and a covered BBQ cantina.

Buyer profiles are broad, typically aged between 40 and 70, with a strong skew toward second-home ownership, drawn by a combination of lifestyle, relative value, proximity to Gold Coast Airport and lower congestion compared to more established markets such as Byron Bay and Noosa.

[smartcode_project:default project_id=152295 project_image_fid=368414]

The project is being delivered by <a href="https://www.apartments.com.au/developers/ktq-group">KTQ Group</a>, a family-owned Australian property group with a diverse portfolio spanning residential, hospitality and commercial developments. The group has delivered a number of notable projects across sectors, including the award-winning Elements of Byron resort, demonstrating its depth of experience across both hospitality and residential development.

Known for its long-term approach to place-making, KTQ Group retains a vested interest in its projects, often holding assets within its portfolio, which has also helped build trust among buyers and reinforced confidence in both the vision and delivery certainty of the precinct.

“Casilia represents the final opportunity to secure a residence within Kirra Point and brings to market the last release within our long-term vision for the precinct," KTQ Group's Jeremy Holmes said.

"Kirra Point has been more than a decade in the making, and that timeframe reflects the care behind each decision, it takes listening, balance and vision to arrive at something that feels right for the location.

“Our approach has always been to deliver Kirra Point as a destination in its own right, a connected coastal neighbourhood integrating residential, hospitality and wellness, rather than a standalone project. It’s a vision that respects place, pace and permanence, and contributes to a sense of community that feels authentic to Kirra.”

[smartcode_project:default project_id=152295 project_image_fid=368411]

Once complete, the Kirra Point masterplan will incorporate a mix of dining establishments, bars and cafés, alongside the Kirra Point Health Club and a future 91-room independent resort hotel, creating a walkable, integrated lifestyle precinct.

Architecutue and interiors at Casilia have been designed by the experienced design houses of <a href="https://www.apartments.com.au/architects/little-boat-projects">Little Boat Projects</a> and O’Neil Architecture &amp; Interior Design, The design moves beyond the conventional coastal apartments, instead taking cues &nbsp;from the surrounding landscape - layering natural materials, soft curves and warm textures to create spaces that respond to light, airflow and the rhythms of coastal living.

Residences are designed with an array of floorplates, generous proportions and intuitive flow, while at ground level Casilia connects into the broader precinct, where future laneways, retail and hospitality offerings will contribute to a neighbourhood defined as much by how people live day-to-day as its beachfront position.

[smartcode_project_cta:default project_id=152295]

The final residential release within the Kirra Point masterplan is set to launch, as strong pre-sales signal sustained demand for the Southern Gold Coast

A decade in the making: KTQ launches Casilia at Kirra Point

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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<h3 class="post-title entry-title"> </h3>
<div id="post-body-5183975004734142219" class="post-body entry-content">
<div>
After a bit of pause in the ABS <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/3401.0Main+Features1Apr%202015?OpenDocument" target="_blank" style="line-height: 1.3em;">Overseas Arrivals and Departures</a> survey we have had no fewer than seven such releases since May...and there's yet another in the post in the next couple of days too!
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<div> </div>
<div>The slowdown in Australia's population growth to +330,000 in 2014 was straightforward enough to predict for those who were paying attention - with Sydney and Melbourne leading the population growth charts - and regular readers will be well across the drivers of the downtrend.</div>
<div> </div>
<div>While most commentary is finally just about latching on to last year's story, I'm now getting more interested in trying to anticipate the eventual rebound - the causes thereof, and the likely timing. Let's have a look at a four trends to watch, and particularly the role of exchange rates thereon.</div>
 1 - Net long term migration <div>Rolling annual net long term migration slowed considerably from around 411,000 in January 2013 to just above 300,000 by April 2015.</div>
<div> </div>
<div><a href="https://1.bp.blogspot.com/-CsKHLxNp92E/VZhovUp0ezI/AAAAAAAAWog/kgkTP1sMsjg/s1600/Arr1.jpg" target="_blank">Click to enlarge</a></div>
 <div class="separator"><a href="https://1.bp.blogspot.com/-CsKHLxNp92E/VZhovUp0ezI/AAAAAAAAWog/kgkTP1sMsjg/s1600/Arr1.jpg"><img src="https://1.bp.blogspot.com/-CsKHLxNp92E/VZhovUp0ezI/AAAAAAAAWog/kgkTP1sMsjg/s640/Arr1.jpg" width="640" height="280"></a></div>
 <div>The downtrend is still in place but appears to be slowing. </div>
<div> </div>
<div>In any case, following some analysis of previous years' data the ABS itself <a href="https://petewargent.blogspot.com.au/2015/06/boomerang-departures-to-drive" target="_blank">cast doubts</a> on the relevance of the permanent departures statistics.</div>
 The ABS research implied that while ostensibly more than 380,000 Australians left the country on a long term or "permanent" basis over the past 12 months, a high proportion of them are likely return home within just a year. Observed the ABS: <div> </div>
<div>
"Analysis shows that the majority of those with an intention of permanently departing, return to Australia within the following year. For example, in the calendar year 2011, out of the 84,240 Australian residents who stated they were departing permanently, only 15,890 spent 12 months or more overseas."
</div>
 <div>Whether or not this proves to be true in the future is less clear, but it does serve as a timely reminder that all is often not as it seems when it comes to demographic trends.</div>
 <div>2 - Record short term arrivals</div>
<div> </div>
<div>As the Aussie dollar has declined from around 110 US cents close to just 75 cents, the domestic economy is set to benefit from record high short term arrivals, now tracking at well over 7 million in the year to April 2015.</div>
<div> </div>
<div>The chart below suggests that we might expect trends in short term arrivals and departures to dovetail with respect to changes in the strength or otherwise of our currency.</div>
<div> </div>
<div>With the awesome strength of the Aussie dollar through the mining investment boom it was no surprise to see short term departures exploding higher. 
</div>
<div>I even took full advantage of this myself to undertake a rather extravagant world cruise in 2011, something which seems somewhat less appealing now, at least from a cost perspective!</div>
<div> </div>
<div>Now that the dollar has depreciated it is all but inevitable that this rampant trend towards overseas travel will reverse and comparatively fewer Australians will choose to travel and holiday overseas.</div>
<div> </div>
<div><a href="https://2.bp.blogspot.com/-aeVfFBTDcNc/VZhoxu3OR4I/AAAAAAAAWo0/POJh6u2LYwI/s1600/arr4.jpg">Click to enlarge</a></div>
 <a href="https://2.bp.blogspot.com/-aeVfFBTDcNc/VZhoxu3OR4I/AAAAAAAAWo0/POJh6u2LYwI/s1600/arr4.jpg"><img src="https://2.bp.blogspot.com/-aeVfFBTDcNc/VZhoxu3OR4I/AAAAAAAAWo0/POJh6u2LYwI/s640/arr4.jpg" width="640" height="290"></a> In fact, although the above chart doesn't yet appear to suggest so, this has already begun to happen, which is a net positive for the domestic economy. <div>The below chart records the ratio of short term departures to short term arrivals by month, and reveals that the ratio has steadily fallen to sit at its lowest level since the first quarter of calendar year 2011.</div>
<div> </div>
<div><a href="https://1.bp.blogspot.com/-d6rsK8_HQD0/VZhow5WJAMI/AAAAAAAAWoo/hGaZ0NeT8ys/s1600/Arr8.jpg" target="_blank">Click to enlarge</a></div>
 <a href="https://1.bp.blogspot.com/-d6rsK8_HQD0/VZhow5WJAMI/AAAAAAAAWoo/hGaZ0NeT8ys/s1600/Arr8.jpg"><img src="https://1.bp.blogspot.com/-d6rsK8_HQD0/VZhow5WJAMI/AAAAAAAAWoo/hGaZ0NeT8ys/s640/Arr8.jpg" width="640" height="274"></a> The Aussie dollar likely has further to fall, and in turn so too does this ratio. 3 - Compositional shift of arrivals When people observe housing market trends and opine that the role of Chinese investment might be a passing fad, they might want to think again. <div> </div>
<div>Credit Suisse projects that Chinese investors will drop some $60 billion into Australia's housing markets over the five years to 2020, more than double the estimated $28 million in the preceding five years. </div>
<div> </div>
<div>Meanwhile the number of Chinese USD millionaires is expected to rise at 14% per annum (Chinese stock market corrections notwithstanding!) thereby doubling to 2.6 million by the end of the decade.</div>
<div> </div>
<div>While there must be an element of guesswork and extrapolation involved here, I've seen nothing in the housing market activity which causes me to cast doubt on the estimates.</div>
 <div>Comfortably the most significant change in short term visitors to Australia has been the explosion in Chinese short term arrivals since the turn of the century.</div>
 <div>In February 2015, the month which incorporated Chinese New Year, an astonishing 198,700 visitors came to Australia from China, Hong Kong and Taiwan combined.</div>
<div> </div>
<div>
<a href="https://4.bp.blogspot.com/-FriL70hzVFg/VZjW4f53AUI/AAAAAAAAWp8/RZosv0cwvJw/s1600/Chindia.jpg" target="_blank">Click to enlarge</a> <div class="separator"><a href="https://4.bp.blogspot.com/-FriL70hzVFg/VZjW4f53AUI/AAAAAAAAWp8/RZosv0cwvJw/s1600/Chindia.jpg"><img src="https://4.bp.blogspot.com/-FriL70hzVFg/VZjW4f53AUI/AAAAAAAAWp8/RZosv0cwvJw/s640/Chindia.jpg" width="640" height="276"></a></div>
</div>
Interestingly the "original" data for the three months to April also revealed unprecedented numbers of Indian short term arrivals at 66,500, while the Americans are also enjoying the shifts in the exchange rate with rolling annual number of short term visitors rising to a record 563,800. <div class="separator"> </div>
 <div>We can expect that eventually some of these trends will flow through to Australia's permanent settler figures.</div>
 <div>While the number of Brits settling is threatening to become immaterial - at just 590 settlers in April, less than a quarter of the levels seen in 2008 - and permanent New Zealander immigrants are trending sharply down, Indian and Chinese settlers are rapidly tracking at or close to record levels. 
</div>
<div><a href="https://4.bp.blogspot.com/-f8touQwzFSo/VZhowb-0JsI/AAAAAAAAWos/5pVKyqyQIbY/s1600/Arr6.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<a href="https://4.bp.blogspot.com/-f8touQwzFSo/VZhowb-0JsI/AAAAAAAAWos/5pVKyqyQIbY/s1600/Arr6.jpg"><img src="https://4.bp.blogspot.com/-f8touQwzFSo/VZhowb-0JsI/AAAAAAAAWos/5pVKyqyQIbY/s640/Arr6.jpg" width="640" height="278"></a> <div> </div>
<div>Indeed, there were 73,370 settlers hailing from Asia in the year to April 2015 as compared to fewer than 15,000 from Europe.</div>
 It's a huge shift in composition that is underway. <div class="separator"> </div>
4 - Record education enrolments in Q1 2015 <div>One other unfolding trend to watch which is also tied to the depreciation of the currency is the record number of foreign student enrolments seen in the first quarter of 2015.</div>
<div> </div>
<div>The ABS series shows that the rolling annual number of short term arrivals into Australia in the year to April for education has blasted to its highest ever level at 421,400.</div>
<div> </div>
<div><a href="https://2.bp.blogspot.com/-rfQpqET2No8/VZhovXWXDPI/AAAAAAAAWoc/7GjRMo7Gbjo/s1600/Arr5.jpg" target="_blank">Click to enlarge</a></div>
 <div class="separator"><a href="https://2.bp.blogspot.com/-rfQpqET2No8/VZhovXWXDPI/AAAAAAAAWoc/7GjRMo7Gbjo/s1600/Arr5.jpg"><img src="https://2.bp.blogspot.com/-rfQpqET2No8/VZhovXWXDPI/AAAAAAAAWoc/7GjRMo7Gbjo/s640/Arr5.jpg" width="640" height="280"></a></div>
 <div>This is another demographic trend which is heavily skewed towards Asian participants, and Chinese students in particular, and one we can expect to keep on growing.</div>
<div> </div>
<div>
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>. 
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>.
</div>
</div>
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Watch the dollar driven demographic dispositions: Pete Wargent

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Amid media’s multiple orgasms over Sydney price rises, the factor overlooked is how poorly the city had performed on capital growth in the decade before its belated resurgence. 
Hotspotting’s latest survey for the Capital Growth Superstars report shows that Sydney still ranks only fourth among the capital cities for long-term capital growth. Perth is No.1, marginally ahead of Melbourne and Darwin.
Perth’s market peaked in the middle of 2013 and been gradually subsiding since then – but, in terms of long-term growth rates, it still has more suburbs with strong growth averages than any other capital city. All but one of the Perth Top 20 average above 9% per year (which means property doubles in value every eight years).
The recent Sydney boom has elevated the city from 6th late in 2014 to 4th in mid-2015 – an improvement, but still mediocre for long-term growth. Fourteen of Sydney’s Top 20 suburbs have long-term growth rates below 8% - not nearly good enough to make the Top 20 lists for Melbourne, Perth or Darwin.
No suburb in the vast Sydney metropolitan area has a double-digit growth rate. The best is Pemulwuy (median price $720,000) in the city’s western suburbs, with a long-term growth rate of 9.5% per year. Most of the suburbs in the Top 20 have growth rates in the 7.0% to 8.0% range.
At first glance, it appears that the Top End suburbs dominate Sydney’s Top 20 list, as 19 of the Top 20 (all except Pemulwuy) have median prices above $1 million. But, in fact, these are mostly suburbs a tier below the Top End.  
In Sydney, the 15 most expensive suburbs all have median house prices above $2 million. None of the 20 most expensive suburbs (all with median prices above $1.9 million) make the Sydney’s Top 20 list for long-term capital growth. Most of them have growth rates below 5% per year.
Sydney’s Top 20 is dominated by 15 suburbs in the $1 million to $1.5 million range, which is Sydney’s second tier market.
This factor is common to most of the capital cities. Most of the Top 20 lists, including those in Melbourne, Brisbane, Adelaide and Canberra, are dominated by the middle market. The exception is Perth, where the cheaper end of the market fills most of the spaces on the Top 20 list. 
In Sydney, the outstanding precinct is the Ryde LGA on the lower North Shore, which has four suburbs in the city Top 20. Ryde is the only municipality with more than two suburbs in the Top 20. Its four top suburbs are Eastwood, Ryde, Denistone East and West Ryde, all with median prices in the $1.1 million to $1.3 million range.
The prestige end of the market, suburbs with median house prices above $2 million, continues to deliver poor capital growth rates. Indeed, three of the most expensive suburbs of Sydney are included in the Bottom 20 list of suburbs with the worst growth rates in the city.
Vaucluse (median $3.4 million), Palm Beach ($2.6 million) and Clontarf ($2.5 million) all have growth rates of 2.1% per year or less. Clontarf’s 1.3% grow rate means it would take 55 years for property to double in value (compared to eight years for Pemulwuy).
There are four other million-dollar suburbs on the Bottom 20 list.
The worst precinct in Sydney for capital growth is the Sutherland LGA in the south of the metropolitan area – it has four suburbs (Burraneer, Bundeena, Lilli Pilli and Illawong) on the Bottom 20 list, all with growth rates below 2% per year.
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> 
Terry was recently joined by Property Observer editor at large Jonathan Chancellor for a webinar on why research is the key to successful property investing in 2015. You can download slides and audio from the webinar here.
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Sydney ranks fourth for long-term capital growth: Terry Ryder

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Australia has one of the most residentially mobile populations of any country. This means we don't mind moving house.
Researchers refer to this as Net Internal Migration, or NIM. With so much attention focused on Sydney's hot property market and the rapid growth in the city's house prices recently, it is easy to see how regional migration starts, as people move from cities to regional areas.
We are already seeing many families priced out of Sydney looking for more value for their money. This migration pattern has been creeping up into the Central Coast and Newcastle over the past few months.
In fact, Newcastle experienced the second largest influx of domestic migrants between 2010 and 2011.
According to the Australian Bureau of Statistics, in the 2010-11 period Newcastle was second only to Perth in receiving the highest amount of people moving from other capital cities.
Newcastle was also the sixth highest net gainer of domestic migration as a percentage of its population between 2006 and 2011.
With Newcastle experiencing some of Sydney's spillover, there seems to be a local problem emerging.
Some Novocastrians are now looking to do the same and eyeing off other areas within the Hunter Region in which to start their families. A quick search online for houses for sale around $400,000 in Newcastle throws up a few apartments and small, unrenovated two bedroom homes on very small lots.  In Sydney of course, the pickings are much slimmer.
Rachael Brecht from Jurds Real Estate in Cessnock says: "We have been getting more enquiry from Newcastle and the Central Coast buyers. We even see some Tree Changers coming from Sydney. They are looking for good quality renovated houses with large backyards and good schools and good sporting and shopping facilities.  We have all this and more in Cessnock with the beautiful Hunter Valley vineyards and their world famous cafes and restaurants at our doorstep, we really do have lots to offer."
She's currently marketing a three bedroom house on 800 square metres of land, with a price guide of $399,000.
With the Hunter Expressway now offering quicker access, you can be in the Newcastle CBD within 50 minutes. Cessnock is a two hour drive from Sydney. There are good local employment opportunities, as in this city which has a population of over 54,000, there is a strong, diverse economy.  The health, tourism, retail, manufacturing (wine) and training and education industries are the <a href="https://economy.id.com.au/cessnock/Employment-census" target="_blank">highest employers in the area</a>. 
For buyers from Sydney or Newcastle a three bedroom house on 800sqm of land for $400,000 is very good value. When you combine the low interest rates we are experiencing now, then this may be a great way of getting ahead.
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The search widens for families priced out of cities

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There are 72 auctions scheduled this week in Melbourne compared to 92 for the same time last year.
Auction numbers are low this week due to the AFL Grand Final.
Conditions in the private sale market are becoming more competitive with homes taking fewer days to sell and a lower vendor discount.
Recent data shows that all of the top 10 suburbs when ranked by time on market are in the eastern suburbs. Rowville had the lowest number of days on market followed by Blackburn North, Croydon, Wantirna South and Vermont South.
On a city wide basis the time on market results for houses sold at private sale fell from 44 days to 41 days over the last week whilst vendor discounting fell from -5.4 per cent to -5.2 per cent.
Key data
<ul>
<li>Clearance rate week ending 28 September:72.1%</li>
<li>Melbourne auctions expected week ending 28 September: 72</li>
<li>Melbourne private sales time on market week ending 21 September: 41 days (houses)</li>
<li>Melbourne vendor discounting market week ending 21 September: -5.2% (houses)</li>
<li>Listings being prepared for market are 2% higher in month ending 21 September (seasonally adjusted)</li>
</ul>
 
 
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Sellers steer clear of Grand Final day: RP Data's weekend auction preview

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I think we all need to have a cold shower, a few aspirin and a wee lie down.
Then, having calmed down a bit, conduct a rational assessment of our property markets, without the emotion, the self-serving hyperbole and the publicity-seeking rhetoric.
We seem to have arrived at a point where any price rise anywhere in Australia is deemed a crisis. We're also at a point where the argument (it doesn't deserve to be called a debate) about real estate is driven by the people who make the most noise, rather than those with the most knowledge.
And, saddest of all, Australia in 2014 is a place where few people who work in or use the media give a damn about fairness, accuracy or balance. The only thing that matters is the headline or the political points scored or the amount of publicity achieved.
There was a time when journalists performed a worthwhile role. They were the filters through which information and comment had to pass. Claims were challenged, information was checked and alternative views were sought.
No one got to write about a subject unless they had credentials.
Today employees of media organisations are often mere conduits for propaganda. The public is asked to accept that if it's in a press release, it's valid. If someone describing themself as an economist makes a statement, it's likely to be fact. If an offshore "analyst" makes an observation, it's news.
The outcome is a melting pot of extreme views. The missing ingredients are objectivity, scrutiny and balance.
Many journalists no longer feel the need to support their statements with evidence.
A writer from a major media company (not a property specialist but apparently a "personal finance writer") this week stated as fact that Australia has "inflated house prices" and "surging property prices across the country". And that was just the first sentence.
No evidence was presented to back those big statements; we were expected to accept them as truth, despite the writer's lack of expertise and the reality that all the research data contradicts the notion we have "surging property prices across the country". According to the numbers I see every day, it's simply a lie.
On the same day, a writer from a different media company, with even flimsier credentials, sought to justify a pre-conceived attitude that investors exploiting the tax system drive up property prices. He presented graphs which he claimed showed that "whenever investor activity increases, house prices go up".
He saw what he wanted to see but, in reality, the graphs showed nothing of the sort. They showed, in fact, that investors do not lead price rises – they follow them. In every step along the graph line, a change in investor activity came after a change in prices.
My three decades researching real estate has taught me that investors never instigate property booms - they follow them. The biggest force in real estate, always, is the sector comprising home buyers other than first-home buyers, who dominate most markets numerically and have the financial capacity and motivation to pay high prices.
Meanwhile, another columnist with a bee in his bonnet about Asian investors tried to argue that "an influx of murky money from China" had been distorting and inflating our property markets "for years".
There was little in the way of research evidence, just a convoluted set of statements that led to no apparent conclusion.
So there we had, on the same day, three writers, all of them working for major media organisations but none of them with any real estate expertise, all claiming "Australian property prices" were unreasonably high, but each blaming a different bogeyman – one claiming it was foreign investors, another pointing the finger at local investors boosted by negative gearing, and the third blaming slack lending standards.
The one thing they had in common is that they all got it wrong. And probably don't give a damn because the headline is the thing.
So, setting aside all the ego-driven noise, here's a reality check.
Sydney remains the only city to have produced boom growth to date. The figure so many misguided commentators keep quoting – and describing as "the surge in Australian property prices" – is nothing more than the average increase across the capital cities, greatly inflated by Sydney's growth.
The key thing is this: Sydney's upturn follows 10 years of under-performance. Even with the rises of the past year or so, Sydney's average growth over the past decade is still below par. As a number of the more rational observers have commented, Sydney has been playing catch-up. But, despite the recent increases, it still hasn't caught up.
Here are some examples of what I mean. The median house price for <a href="/news">Vaucluse</a> has increased 17% in the past 12 months, according to Australian Property Monitors, but the average annual rise in the past five years is just 1.4%. The 10-year growth average is 3% per year.
The median unit price for <a href="/news">Point Piper</a> is up 17% in 12 months, but the 10-year average is 1.5% per year. In real terms, they've lost value over the past decade.
In <a href="/news">Darling Point</a>, the median unit price today is lower than it was 10 years ago, despite the recent growth. They've lost money, even without allowing for inflation.
Heading out west to a more mainstream and affordable market, the suburb of <a href="/news">Blacktown</a> (Sydney's most popular suburb in terms of sales volumes) has recorded 18% median price growth in the past year, but it's 10-year average is just 3% per year.
You'll find similar numbers right across the Sydney metropolitan area. Even when you examine above-average performers, the numbers are still modest. Balgowlah's five-year growth average is 5% per year; its 10-year performance is 4.1% per year.
All the froth and bubble in the media is being caused almost exclusively by Sydney's growth, but in reality Sydney's long-term performance remains decidedly poor.
Take the recent Sydney growth out of the equation and the average growth in the past year across the other seven capital cities is 4-5%. And that follows several years of price decline.
But, amid the prevailing atmosphere that any price rise is a national disgrace, even that number would be described by some as a bubble.
Terry Ryder is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can reach Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or <a href="https://twitter.com/hotspotting" target="_blank">twitter</a>.
 
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Headline obsessed writers need a reality check

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Hi,
I'm thinking about purchasing a property that has been built in underneath with no council approval. The problem is that it is a high set home on recently flood zoned area of <a href="/news">Logan</a>. My question is, is it still possible to get building certification for lower levels in flood areas or does the council never allow it?
Margaret Lomas' answer is on the next page. Please click below to continue.
<hr class="system-pagebreak">
When you own a house or unit in any local government area, it is your duty to ensure that the building codes provided by the state department of planning, and administered locally by the council's own planning departments, are adhered to. 
This also means that, if you make any changes to a property which has previously been approved as compliant, you must first ask council for permission to make such changes.
These rules exist for many reasons - to ensure that an area remains aesthetically pleasing, to provide safe living environments for residents, and to protect the environment itself. If you have ever visited a country where there is no building code, and seen how the residential areas look when people build whatever they like, you will better appreciate these rules! 
You will also know that when a natural disaster strikes, the loss and injury caused is far more catastrophic, often due to the unsafe nature of what has been built and the overbuilding of those areas.
And so to your dilemma. You are thinking of buying  property with an unapproved alteration, and you should know that the council is within their rights to ask you to revert it back if they so desire. If the council feels for any reason that the alteration contravenes the current development rules, or in any way poses a risk to the surrounding community in the event of a flood, then they will ask you to revert it. 
You should check the flood maps available on the Logan City Council website, and see if this property falls within a flood zone. If so, your chances of having this alteration retrospectively approved is next to none, and the chances of being asked to remove the alteration is in play.
You should ask the current owner to either have the alteration approved prior to your purchase, or provide a letter from the council attesting to the fact that the alterations do not contravene any planning rules, and would be otherwise approved if you submit a development application. Then, as soon as you settle, take the steps to have the alterations approved to remove any future doubt.
 
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Ask Margaret: What happens if I buy a house with an unapproved alteration?

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One of Victoria's most impressive pastoral homestead, Mount Mitchell at Lexton, 40 kilometres northwest of Ballarat, has been listed for sale.
The five bedroom 100 squares bluestone home with 14 open fire places, that dates back to the Robertson family pioneering connection, has been listed through Pat Rice &amp; Hawkins.
Offers on the 310 hectare holding <a href="https://www.realestate.com.au/property-lifestyle-vic-lexton-7684059" target="_blank">close November 11 with $4.5 million plus hopes</a>.
Constructed around the central courtyard with its historic horizontal elm tree, the Mount Mitchell homestead was designed by the Charles Webb, who was the architect for a number of Melbourne’s foremost buildings including Tasma Terrace in East Melbourne. 
The bluestone homestead, of Italian conservative classical design, sits within a four hectare garden.
The vendors, the fourth owners, have been there thirty plus years, buying it in a neglected state in 1981. 
Construction of the homestead began in 1860 and was completed some twelve months later with a further replica section added in 1910. 
Peter Hawkins, director of Pat Rice &amp; Hawkins, advised 766 acres was currently let under contract for cropping to a local farmer and also comprises highly productive red loams to heavier and darker soils considered to be volcanic in origin. 
The land is on a corner with the Sunraysia Highway and Dawson Road.
The building of the homestead commenced in 1860 and was completed during 1861 for Thomas Robertson senior and his eldest son James. Thomas lived there until his death in 1873 with James and his family remaining at Mt Mitchell until James death in 1893. In 1910 Thomas Robertson senior's grandchild engaged another architect to design the additions which almost doubled the size of the original homestead. 
In 1926 Mt Mitchell was sold to the new owner, Thomas Barrett who extended the garden and planted the pine trees which still grow along the full length of the driveway.
 In 1936 Thomas Barrett sold Mt Mitchell to the Muller brothers and for a period of time the homestead was left neglected and in disrepair until it was purchased by the current owner Richard Salter.
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Ballarat district bluestone Mount Mitchell homestead listed

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There are 1,324 auctions scheduled this week in Melbourne compared to 1,616 for the same time last year.
The highest volume of auctions will be in Reservoir, which has 33 expected.
Last week was the second largest weekend for auctions in the city's history with 1,733 auctions compared to 1,837 in late October. The clearance rate dropped from 71% to 66%; this comparison between the two almost identical weeks provides a very clear summary of the change in the market over two months.
There are only two weekends for auctions now until Christmas.
On a citywide basis, the time on market results for houses sold at private sale contracted from 32 to 31 days over the last week and vendor discounting eased slightly to -5%.
Key data:
<ul>
<li>Clearance rate week ending 7 December: 66%</li>
<li>Melbourne auctions expected week ending 14 December: 1,324</li>
<li>Melbourne private sales time on market week ending 7 December: 31 days (houses)</li>
<li>Melbourne vendor discounting market week ending 7 December: -5% (houses)</li>
<li>Listings being prepared for market are 0.4% higher in month ending 7 December (seasonally adjusted)</li>
</ul>
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Reservoir homes go under the hammer: Melbourne's weekend auction preview

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The Reserve Bank's Chart Pack is always worth a gander, being consistently and independently produced... and free from spin.
You can view the full chart pack <a href="https://www.rba.gov.au/chart-pack/index" target="_blank">here</a>.
Let's run through what the Reserve Bank of Australia (RBA) has found this month for households and the housing market.
Part 1: Households and finances
Retail sales growth is humming along both in terms of values and volumes, largely driven by Sydney retail.
<img src="/images/2015/01/8/graph%201.gif" alt="">
Savings ratios have been elevated since the financial crisis as households shored up their finances, but the ratio now appears to be gradually declining again as low interest rates encourage investment in growth assets.
<img src="/images/2015/01/8/graph%202.gif" alt="">
Consumer sentiment has been knocked around a little by budgets and other adverse news, but remain fairly close to where it has been averaging for the last 34 years.
<img src="/images/2015/01/8/graph%203.gif" alt="">
Household wealth in Australia is now at record highs in absolute terms. In terms of net worth as a percentage of annual household disposable income, asset values are growing nicely, and liabilities are holding steady.
<img src="/images/2015/01/8/graph%204.gif" alt="">
Interest paid as a percentage of household disposable income has declined in tandem with mortgage rates . Indeed, mortgage serviceability is at its best level in more than a decade.
<img src="/images/2015/01/8/graph%205.gif" alt="">
Part 2: The housing market
Stimulated by rising dwelling prices, building approvals brushed record highs, but have now seemingly passed their peak. We will see an oversupply of dwellings <a href="https://petewargent.blogspot.co.uk/2014/12/melbourne-continues-to-hammer-high-rise" target="_blank">in a few regions</a> – one would be wise to steer clear of these, of course.
<img src="/images/2015/01/8/graph%206.gif" alt="">
Housing loan approvals rise to record highs, largely driven by investors in this cycle, the direct result of low borrowing rates.
<img src="/images/2015/01/8/graph%207.gif" alt="">
And finally, to housing prices. As we expected some years ago, due to an inherent undersupply of dwelling stock and infrastructure, Sydney prices are soaring towards $1 million.
With both the M2 and the M7 closed again earlier this week, and barely a day passing without news of diabolical traffic woes, expect there to be a continuing surge of demand for properties located close to key transport hubs such as rail or light rail links.
<img src="/images/2015/01/8/graph%208.gif" alt="">
Elsewhere, Melbourne has been looking peaky for months but has held up reasonably well to date.
Perth's market is trending slightly up but only moderately, while Canberra is now all set for a downturn. The Adelaide market – and particularly its economy – remains unconvicing,
Counter-cyclical investors should be scoping out opportunities in Brisbane, where housing finance is gathering momentum – as reconfirmed this week by <a href="https://www.afgonline.com.au/mortgage-index-january-2015/" target="_blank">AFG's December Mortgage Index data</a>.
 
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How Australian households will look in 2015

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I wonder what media is going to do with the latest admission from the Australian Bureau of Statistics (ABS) that it has been grossly under-estimating the number of first-home buyers in the market.
On Wednesday this week, the ABS posted an update on its "investigation to evaluate the robustness of estimates of loans to first-home buyers".
The investigation, it said, found that "some lenders experience difficulty reporting on loans where the buyers does not receive a first home owner grant".
This, as I pointed out in my column earlier this week (and commented throughout last year, as did other writers on Property Observer), is the nub of the matter. The ABS collects data from the banks on home loans, and the method of identifying a loan applicant as a first-home buyer has always been their application for the first home owner grant.
If the applicant does not apply for a grant, the system does not identify them as a first home buyer.
Since state and territory governments across Australia stopped providing grants for established properties, the number of grant applications has dropped significantly. The research shows that most first-time buyers opt for an established home (cheaper, usually with more land and often better located) over a new home – and therefore most first-home buyers are no longer receiving grants.
The banks no longer record them as first-home buyers.
Because of the under-estimation of first-home buyers, the ABS statistics on home loans have given the appearance that first-time buyers have almost vanished from the market.
Media has leapt on this as a recurring headline, giving rise to claims that young Australians have been priced out of the market – and then, as a natural progression, generating witch hunts to find someone to blame for the situation. Negative gearing benefits to local investors and the activity of foreign investors have been popular targets.
There have been thousands of articles written in the past 12-18 months about the demise of the Great Australian Dream, all based on a fundamental falsehood, created by the ABS miscount of first-home buyers.
It's a damning indictment on journalistic standards in this country that so few have picked up on this. Nobody thought to investigate. No one asked the most basic of questions. Media rushed en masse to the cheap and easy headline – the dream is dead because young Aussies can't afford to buy.
It took a simple phone call from my office in mid-2014 to extract an admission from the ABS that their figures on first-home buyers were wrong – and why they were wrong.
Just how wrong was demonstrated by the recent NAB survey which found that 25% of established homes sold are being bought by first-time buyers and that 24% of new homes are bought by first-timers.
Journalists and editors across Australia should be hanging their heads. But you can be sure none of them will. Nor will the many economists, analysts and commentators who have seized on the ABS figures to justify their attitudes on real estate issues (such as those with an anti negative gearing stance or those opposed to foreign investment in Australian real estate).
"Users are advised to exercise caution in using this data," the ABS said on Wednesday. That warning has come at least 12 months too late. Not that it will make any difference to some.
I would bet my house that next week there will be more articles in major newspapers repeating the fiction that first-home buyers are at an all-time low. And the week after. And six months from now. People won't let the facts get in the way of an entrenched attitude or an easy sound byte.
"ABS and APRA will continue to work with lenders to improve data quality," the ABS said this week. "In the meantime, from the December 2014 issue (to be released on 11 February 2015), estimates of loans to first home buyers will include an adjustment for under-reporting of loans where the buyer did not receive a first home owner grant.
"An Information Paper will be released on the ABS website on 4 February 2015 explaining changes to the method of estimating first home buyers' data and the extent of revisions.   The ABS will continue to update the method as lenders progressively improve their reporting."
Too little, too late. Australia is awash from misinformation on the real estate industry and the most extreme example has been the first-home buyer miscount and all the column inches of inaccurate comment and posturing it has generated.
Terry Ryder is the founder of <a href="https://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>.
Terry will be participating in a webinar on 'The Best and Worst for 2015: Top 5 Hotspots and 5 Places to Avoid' on 3 February.
Click here to <a href="/news">register now</a>.
 
 
 
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