<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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<div>N G Farah have just listed a residential block of four apartments in Randwick.</div>
<div> </div>
<div>Set at <a id="LPlnk340531" href="http://www.ngfarah.com.au/19263861/24-st-luke-street-randwick" target="_blank" data-auth="NotApplicable">24 St Luke Street, Randwick, </a>the boutique, art deco, strata block of four, features four two bedroom 1 bathroom semi-sized apartments is set on 482 sqm.
</div>
<div> </div>
<div>It has a projected annual gross income of roughly $126,446.</div>
<div>
 This block goes to auction on July 28. 
</div>
<div>Recently N G Farah sold another boutique block of 4 at <a id="LPlnk265076" href="http://www.ngfarah.com.au/19113120/10-12-sturt-street-kingsford" target="_blank" data-auth="NotApplicable">10-12 Sturt Street, Kingsford</a> (pictured below) under the hammer for $3,225,000.</div>
<div> </div>
<div><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/7/11/8-12%20Sturt%20St.jpg" alt=""></div>
<div> </div>
<div>This block had a 614 sqm allotment with an projected annual gross income of roughly $111,585. </div>
<div> </div>
<div>The 10-12 Sturt Street offering features two x three bedroom apartments, one x two bedroom apartment and one x one bedroom apartment.</div>
<div> </div>
<div>The estimated annual council rates for this property are $5,552.</div>
<div> </div>
<div>The estimated annual land tax on the property is $27,000.</div>
<div> </div>
<div>The estimated annual water rates for this black are $2,700</div>
<div> </div>
<div>These costs add up to an estimated annual total expense of $35,252.</div>
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j.ballantyne1990-6AQqhLzZaK

N G Farah list a Randwick apartment block

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Teska Carson is marketing a retail investment or owner-occupier opportunity located within the Wheelers Hill Shopping Centre in Melbourne’s eastern suburbs.
The property, Shop 26 (pictured above) will be auctioned August 17 on site.
The 46 sqm holding which comprising an open plan retail/services area and a small consulting room at the rear, was previously tenanted by an optometrist but is currently vacant.
Shop 26 is located internally between Woolworths Supermarket and the southern entrance of the centre which includes other major brands.
According to marketing agents, Teska Carson’s Fergus Evans and Michael Ludski the location was experiencing an emerging gentrification.
They expect strong enquiry and Mr Ludski said Wheelers Hill lies within one of Melbourne’s most rapidly growing regions.
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Wheelers Hill Shopping Centre shop on market

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EXPERT OBSERVER
Most of the strongest markets in the nation are now in regional Australia. And regional NSW is the strongest market jurisdiction in the nation.
The key point is that regional New South Wales is moving in the opposite direction to Sydney. While there are now few rising markets in the state capital, there are growth locations spread across the regions of NSW.
Hotspotting’s Winter 2018 survey for The Price Predictor Index reveals that a record 38 local government areas have growth markets – a total of 60 suburbs or towns with rising sales activity.
1. Newcastle and the Hunter Region form a compelling growth precinct. Suburbs in the City of Newcastle have had very strong price growth (most have had double-digit growth and some have risen 20% or more) in the 12 months.
Now the momentum has shifted to neighbouring Lake Macquarie and locations in the nearby Hunter Region near Newcastle (including Maitland, Cessnock, Singleton and Muswellbrook).
Sales in the suburb of Rutherford in the Maitland LGA have been 64, 75, 70, 91, 86, 99 and 102 in the past seven quarters, while Medowie in the Port Stephens LGA have risen from around 40 a year ago to 55 in the latest quarter.
2. Muswellbrook and Singleton continue to improve after the previous downturn caused by over-development and a downturn in the coal industry.
Muswellbrook’s quarterly sales have risen from 41 to 52 to 57 to 75 over 12 months. Singleton and Singleton Heights combined previously had 35 to 45 sales per quarter but in the past 12 months quarterly sales have been 55, 58, 88 and 86.
Following the merger of the Wyong and Gosford LGAs to form the Central Coast LGA, this municipality is now a significant market in regional NSW. The sales patterns suggest this market has probably passed its peak – there are a large number of Plateau markets, places where sales activity has tapered off at levels below the peak.
But sales growth in the recent past has created strong growth in median house prices in the last 12 months, including in Narara (13%), North Gosford (16%), Terrigal (10%), Toukley (15%), Umina Beach (17%) and Wyoming (16%).
3. Queanbeyan on the ACT border continues to stand out as an affordable growth alternative to Canberra. The LGA of Queanbeyan-Palerang has multiple suburbs/towns with upwardly-mobile sales activity. Quarterly sales in Queanbeyan (the suburb) have been 38, 40, 50 and 59 in the past year.
Queanbeyan is closer to central Canberra than many parts of the ACT, has more affordable prices than most Canberra suburbs and benefits from first-home-buyer incentives available in NSW.
Other regional centres to stand out as above-average markets in regional NSW include Albury, Armidale, Bathurst, Dubbo, Grafton Gunnedah, Lismore, Orange, Parkes, Tamworth and Wagga Wagga.
A number of regional towns that would normally not attract much attention from investors are also rising, including Griffith, Inverell, Kempsey, Leeton and Tumut.
A standout is Merimbula on the far south coast of NSW. Quarterly sales have been 36, 46, 47, 56, 55 and 60 in the past 18 months and the median price has risen 18% in the past year.4
Terry Ryder is the founder of hotspotting.com.au
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terryryder-YECXbqmri2

The three strongest property markets in NSW: Terry Ryder

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<div>EXPERT OBSERVER</div>
<div> </div>
<div>An intriguing set of building activity figures as ever for the March 2018 quarter. </div>
<div> </div>
<div>The most interesting point of note was how thousands of building approvals in the Victorian pipeline were kicked off as dwelling starts in the first three months of the calendar year (recall how Melbourne saw nearly 10,000 townhouses and apartments approved in only a two-month period in October and November last year).</div>
<div> </div>
<div>In New South Wales, on the other hand, there are more houses and apartments approved but not yet commenced than ever before, as developers grapple with tighter financing and languishing apartment pre-sales. </div>
 
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<div>Following on from the above, there was a near-explosion in the number of quarterly dwelling commencements in Victoria, to a seasonally adjusted 22,150, well over double the equivalent figure from a decade earlier. Melbourne's population growth has been tracking at record highs, and demand for housing is high.</div>
<div> </div>
<div>This alone was significant enough to send the national trend for dwelling commencements northwards. </div>
 
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<div>In Queensland more houses are being commenced in response to strong demand from interstate migrants, but the number of attached dwelling starts continues to moderate as the Brisbane apartment market rebalances. </div>
 
<div class="separator"><img src="https://1.bp.blogspot.com/-BIMygTTR1rg/W0V1sDgFn7I/AAAAAAAArAI/kBXZooy2BQQxTdc9h7P2ikm31-d-5uF1ACEwYBhgL/s640/BA4.jpg" width="640" height="374" data-original-height="790" data-original-width="1350"></div>
 
<div>Pipeline is enormous</div>
<div> </div>
<div>The number of residential dwellings units under construction also increased as a result of the Melbourne building boom to more than 224,000, a record high.</div>
 
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<div>You can also see the leap in Victorian attached dwellings under construction to a record level, while Sydney completions are now finally raining in, which should result in a spike in vacancy rates in the harbour city as the year rolls on. </div>
 
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<div>Both the value of building work to be done ($71.4 billion) and total building work in the pipeline ($95.8 billion) are at all-time highs in current prices terms. </div>
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<div>The big question mark is how many of the buyers of off-the-plan apartments will be unable to settle, especially if more valuations at settlement start to come in at under the contract price. </div>
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pwargent-M4siyDbqQY

Melbourne's population growth at record highs makes for strong demand for housing: Pete Wargent

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<div>There were nervous onlookers aplenty as APRA Chairman Wayne Byres prepared to speak in Sydney last week on prudential lending standards and sound lending practices.</div>
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<div>They needn't have been quite so fearful, in the event, as Byres reassured markets that while heightened scrutiny had uncovered some displeasing practices, most of the heavy lifting has already been done with regards to tighter lending standards.</div>
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<div>For subscribers to our market reports, a number of familiar themes raised: tightening standards have been applied incrementally over a period of several years (rather than overnight as often assumed), a new focus on comprehensive credit reporting to better capture pre-existing debt commitments of borrowers, and some very useful analysis of lower loan-to-value ratios and the decline of interest-only loans. </div>
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<div>While much has been made of a potential 'credit crunch' - mainly by interests hoping to see a credit crunch, it must be said - Byres reiterated how in aggregate annual credit growth has continued to track at 'very healthy' levels, especially for owner-occupiers at about 8 per cent. Of course, there are many unknowns about how this will all play out from here. Some parts of the housing market will fare well where demand from homebuyers is high, and others will struggle where the opposite holds true. Caveat emptor.
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<div>Computer says no credit crunch</div>
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<div>As Byres was busy adjusting his tie pre-speech in Sydney, financial markets were digesting the latest housing finance figures for the month of May.</div>
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<div>Supporting what Byres would go on to say in his speech, there was a seasonally adjusted increase in the number of mortgages written across all loan categories, defying market expectations, and a corresponding increase in the total value of lending.</div>
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<div>The 'trend' figures are still shaping lower, but at $31.9 billion the seasonally adjusted housing finance figures were pointing to anything but a credit crunch, especially for the homebuyer cohort.</div>
 
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<div>The average loan size for both first homebuyers ($344,600) and non-first homebuyers ($412,000) also hit a record high in May - both in monthly and rolling annual terms - so it appears that those borrowers able to commit to a loan have not seen borrowing capacity trimmed as much as feared, at least in aggregate. </div>
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 Where to from here? 
<div>Clearly no credit crunch in these figures, then, but my sense is that everyone would feel a bit happier with the world if the household debt to disposable income ratio was seen to be no longer rising from its present level of 1.9x. </div>
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<div>APRA has played its part in tightening lending standards for investors, rapidly reducing the stock and flow of interest-only loans (meaning more Aussies paying are now down their debt), and ensuring that new borrowers are stress-tested with what are very significant mortgage rate buffers. </div>
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<div>It's interesting to consider momentarily how so much market commentary has become morbidly fixated on a bad news narrative, almost wilfully overlooking a string of upbeat data over recent months.</div>
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<div>Westpac reported this morning that its consumer confidence index had surged to the highest level since all the way back in 2013, mirroring Aig's index showing the services sector expanding at the fastest pace on record, and jobs vacancies firing to their highest ever level. So much for it all being doom and gloom!</div>
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<div>Meanwhile the unemployment rate is easing back towards the lowest level in years, exports are tracking at record highs, and the rolling annual Budget deficit is in the best nick in a decade.</div>
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<div>All sanguine observers are quite clear on the missing piece of the puzzle, though: wages growth!</div>
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Lenders gonna lend: Pete Wargent

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Several factors are changing the Australian retail landscape and increasing the importance of shopping mall location and quality for mall owners, according to Moody's.
These factors are changes in consumers' shopping habits, including the growing popularity of online shopping, sluggish consumer spending growth, and increasing urbanization that is widening the wealth gap between metro areas and the rest of the country suggests that latest report from Australian real estate trusts (A-REITs).
"These factors will have varying effects on the five single-A-rated (A-REITs) with retail exposure over the next three to five years," the Moody's report said.
"Scentre Group, GPT Group and Mirvac Group are better equipped to face these challenges and will maintain their portfolio quality because of their malls' favorable tenant mixes and locations in wealthy and densely populated catchment areas."
The report notes that it "expects year-on-year retail comparable net operating income (NOI) growth to be 3.0%-3.5% for Mirvac during the coming 12-18 months, and 2.5%-3.0% for GPT and Scentre."
Without recycling initiatives, portfolio quality will weaken for Vicinity Centres (A2 stable) and Stockland Group (A3 stable), whichhave higher exposure to underperforming, midsize shopping malls.
It is expected their retail comparable NOI growth will remain below the others in the peer group, with Stockland at 2.2%-2.4% and Vicinity at 1.4%-1.6% during the coming 12-18 months.
The three A-REITs' exposure to the retail sector varies, it is around 20% of group EBIT for Mirvac, 30%-35% for Stockland, and 40%-50% for GPT according to the report.
Of the three, Moody's suggests Stockland's portfolio is the most exposed to the changes in the retail sector because of its lower asset quality and higher exposure to midsize assets located in areas with weaker economic fundamentals.
"Vicinity and Stockland are working to improve asset quality, their plan's are to sell weaker performing assets and to develop residential, hotel and office space at existing malls are likely to improve their portfolio quality. However, we believe that they are unlikely to make step changes in their portfolio quality as it will take time to market assets and find appropriate buyers at this point in the property cycle," noted the investment analysers.
<img src="https://www.urban.com.au/images/2018/6/22/Moody%20Graph%201.JPG" alt="">
The retail environment is challenging and shopping mall owners have been facing slowing retail sales growth in Australia for the past four years, driven by low wage growth, rising household costs and, more recently, moderating house price growth, especially in Sydney and Melbourne.
These factors will continue to challenge retail A-REITs and their tenants, because they will constrain consumer spending and retail sales over the next 12-18 months.
<img src="https://www.urban.com.au/images/2018/6/22/Moody%20Graph%202.JPG" alt="">
Additionally, the increasing popularity of online shopping will slow sales for traditional brick-and-mortar retailers and increase competition among shopping malls.
Despite what was only a soft launch of Amazon.com, in 2017, the percentage of retail sales made online in Australia (by dollar value) was 7.5%, the report noted.
With online sales in more established markets like the US and the UK at 12.5% and 15.5%, respectively, the Australian online market has room to grow over the next several years.
In move to capture a greater share of this growth, Amazon launched its subscription-based free delivery service, Amazon Prime, on 19 June at half the price of membership in the US.
Shopping mall owners are adapting to the increasing popularity of online shopping by expanding digital, social media, and mobile retail offerings as well as increasing their weighting to service-based tenants.
The report expects, "A-REITs to maintain this focus as they look to maintain their relevance in the face of changing consumer habits".
"As sales growth slows, expect retailers to focus more on store productivity across their existing networks."
<img src="https://www.urban.com.au/images/2018/6/22/Moody%20Graph%203.JPG" alt="">
The recent acceleration of store closures, particularly from large department stores such as Myer, Target and Big W that are actively looking to scale back their sizable footprints, will alter shopping malls’ tenant mixes and weaken their ability to re-lease space now occupied by specialty stores at values above previous leasing arrangements.
The report forecasts that, struggling retailers will continue reducing floor space and closing stores but that despite these challenges, solid economic conditions are expected, which combined with stringent planning and zoning restrictions that limit new shopping mall development, will continue to support A-REITs' shopping mall portfolios and credit quality.
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Stockland's retail portfolio most exposed as Australian retail landscape changes: Moody's

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Georg Chmiel chats with Harcourts co-owner Mike Green about secrets for real estate investing.
One of the most charming and gregarious people in the real estate industry calls himself an introvert. But what will really surprise you about Harcourts MD Mike Green is the job that he sought before becoming an agent and what he has to say about investing in apartments. 
Green is co-owner of international real estate network Harcourts – a New Zealand native who made the hop to Brisbane (for the weather) and has since conquered not only Australia but nine other countries as well. 
We will get into Green’s secrets for real estate investing, but first let’s look at how he climbed the business ladder. He got into real estate purely by accident.  
“I was looking through the newspaper for a job, having just left university” he says. “I applied for a job washing cars in a car yard, and the guy turned me down.” 
That rejection sent Green back to the employment classifieds (remember those?). Eventually, he talked his way into his first property job at 19 as a real estate sales consultant with no experience and only one year of university. He hasn’t looked back since.
Does he still pine for the missed opportunity to wash cars all day long? I didn’t ask him, but I imagine not.
“I went into a profession that I just clicked with,” he told me. “I love the freedom of it, the impact you can have on people’s lives. Eventually, my wife Irene and I opened our own Harcourts franchise. Now (Harcourts Chairman) Paul Wright, Irene and I are the owners of the Harcourts international franchisor.”
Green’s secrets to success in business are available to anyone. “The reality is,” he says, “if you hang around long enough, you end up at the top — as long as you don’t do anything stupid and don’t annoy people.”
I have managed hundreds of people in my career and, as simplistic as it sounds, this advice is actually quite profound.
DISRUPTON
Green runs a major international real estate agency network with more than 900 offices in 10 countries. Is he worried about losing it all to a tech giant like realestate.com.au, purplebricks.com or Google? 
Not a bit.
“The only thing we need to worry about is disrupting ourselves by not delivering value,” he told me. Selling a home “is such an emotional and traumatic experience. Our clients actually want an advisor to help them through the process. It’s very hard to disrupt when you have hundreds of thousands of people on the ground doing just that.”
But Green did admit that there are still risks. No real estate company has a monopoly. 
“If we don’t add value to clients we will disappear like so many other companies in other industries have.”  
COUPLES
For Green, one of the benefits of a career in real estate has been the opportunity to work alongside his wife Irene, who is herself extremely successful in the industry in her own right. 
“Irene and I have worked together for nearly 30 years,” he said, “and it certainly creates its own unique challenges. You never stop talking about the business. It’s a really dangerous place to be when your wife technically reports to you, which was the case for a very short period of time.” 
After all, we all know who the real boss is…
That said, Green encourages other couples to consider a property career, as long as you can “keep a sense of humor and understand that, while the business is important, the relationship is far more important.”
WHAT SHOULD FIRST BUYERS DO?
Now, let’s get to Green’s advice for first-time buyers who are in a tough position because of high prices. 
“Government is more attuned to first-home buyers now,” he says. “Study up on the available first-home buyer grants and other incentives available.”
You should choose a “good property that can be readily resold and has a wide market appeal. What they say about location is very true. If you buy in a good location you will always be fine in the long term.”
And watch out for interest rates, which are still at historic lows. “Reality says that will change,” advises Green. “You should say, ‘Hey if the rates go up two percent or three percent, will I be OK?’ 
“Also factor in starting a family. If you have to live on one income, how will that look?”
ADVICE FOR INVESTORS
Green advises property investors to play it safe, too. His preferred investment is a three-bedroom home on a little bit of land and with a garage.
“They are very easy to rent, and if you need to sell they sell easily. Some investors look for houses that have been split up for multiple revenue streams, but those are harder to sell. They only appeal to other investors. If you are under pressure and need to sell, chances are other investors will be, too.”
Green made a 38% profit on his first investment home after only two and a half years. It had cost him NZ$29,000. Today, the same home is worth as much as NZ$1.8 million. 
Now, about apartments. While Green lives in one for the care-free lifestyle it affords, he doesn’t recommend apartments as an investment.
“They don’t perform as well in terms of rental return or capital gain. I’d recommend you spend a bit more and buy a three-bedroom house.”
Green firmly believes property investors today can still leverage a small amount of capital into a large and successful portfolio that eventually lets them live off their earnings. His own sons and a number of their friends are following just this strategy.
“I think you can do it today,” he said. 
“You have got to be a bit careful because there is more money involved. But as rents and capital gains grow and the mortgage is paid down, you are building wealth. Property will never be cheaper than it is today!”
Georg Chmiel, the chairman of Juwai, a Chinese website for buyers of overseas property, was speaking to Mike Green in what will be a monthly insight into the leading minds of Australian property experts.
He has spoken with LJ Hooker agent Bill Malouf about the ins and out of the Sydney market and REINSW president Leanne Pilkington about women in real estate.
He most recently spoke with Melbourne property developer Larry Kestelman about developing your first property.
 
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Georg Chmiel chats with Harcourts boss Mike Green on real estate investment secrets

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GUEST OBSERVATION
John Briggs, a 40-year-old on holiday, texted his wife Shirley: “Look at the glacier out there.” He waited for the reply, which came through on his mobile. At the time they were sitting next to one another on board the deck of their small cruise ship, along northern Alaska’s icy shores.
This interaction was reported to us during our research on digital behaviour. Results to date show that for many people digital communication now trumps natural conversations – and the appreciation of the present scenery has begun to elude many online devotees.
A corrective to this addiction has now emerged: the digital detox holiday.
Depending on which country you’re in, the experience might be labelled variously as “black hole resorts”, “offline escape retreats”, or “dead zone holiday options”. At its core, this emerging holiday trend is defined by disconnection from the usually omnipresent online and social media.
The concept of digital detox has changed
To assess attitudes toward this rising trend, we conducted a range of focus groups in Australia. We also plotted the changing ways the idea is being presented in the international media, analysing several hundred articles and documents from the past ten years.
Aside from some early references in 2009 and 2010, serious media coverage of digital-free holidays began in 2011. The experience was first offered as an elite product targeting the wealthy few. By 2016 and in 2017, digital-free holidays went from a niche product to one that appealed to a broader consumer base.
Even more interestingly, the kind of value sought in such an experience has also shifted over time. In the early years, these holidays were discussed as a means of escape and a way to de-stress. Last year, the emphasis was much more about building skills and attributes which could endure beyond the holiday.
The next phase of the work is to examine these skills more closely. Early indications suggest that couples and families use these experiences to learn to engage more fully with one another, undertake joint challenges. They appreciate that holidays offer bigger screen shots of the world than the view available on the mobile phone or laptop.
Australia’s remote geography is ideal
In Australia, where connectivity in remote locations is still a challenge, the digital detox holiday style may be a building block in the design of engaged, intimate holidays.
The opportunity to be offline will likely need to be coupled with a new suite of activities for tourists to enjoy. These may include photography, astronomy tourism, wildlife viewing, dancing and competitions, night treks and cooking classes.
<img src="https://counter.theconversation.com/content/99740/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">But these skills may be secondary to the chance of immersing oneself in conversation and joyous moments with travel companions. In the near future, there may indeed be a growing number of options for people like John and Shirley, our cruise holiday texters, to enjoy a retro holiday style where connectivity is an afterthought, not a central plank underpinning life and relationships.
Philip Lovell Pearce, Foundation Professor of Tourism, James Cook University
Li Jing, PhD Candidate, James Cook University
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/more-of-us-are-opting-for-digital-detox-holidays-99740" target="_blank">original article</a>.
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More of us are opting for 'digital detox' holidays

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GUEST OBSERVATION
Recently, some of Europe’s most-visited cities have become surprisingly inhospitable to tourists. Barcelona residents have been openly hostile to visitors and officials are now cracking down on Airbnb rentals. Venice has been overrun with daytrippers and recently instituted tourist-only diversion routes. Dubrovnik has put a cap on the number of cruise ship passengers that can enter the city at any one time.
These destinations are suffering from what people in the travel industry call “overtourism.” The numbers speak for themselves. Europe was the most frequently visited region in the world in 2016, accounting for close to half of the 1.24 billion international tourist arrivals. Spain, a nation of 46.5 million people, welcomed a remarkable 75.3 million visitors in 2016. Croatia, population 4.2 million, saw more than triple the number of tourist arrivals.
Australia hasn’t yet experienced visitor numbers quite this large – there were just 8.24 million tourist arrivals in 2016 – but overtourism is becoming a concern here, as well.
What exactly is overtourism?
The awkward term overtourism describes a situation in which a tourism destination exceeds its carrying capacity – in physical and/or psychological terms. It results in a deterioration of the tourism experience for either visitors or locals, or both. If allowed to continue unchecked, overtourism can lead to serious consequences for popular destinations.
The situation has gotten so bad in certain locales in recent years, media outlets have started publishing lists of the “travel destinations you should avoid” and new terms like “anti-tourism” and “tourismphobia” are entering the travel industry lexicon. Tourist sites have even occasionally been targeted with violence, such as the string of attacks that took place in Spain last year.
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The causes of overtourism vary according to the destination. Recently, the disruptive agents of the sharing economy, like Airbnb, have been blamed for bringing more tourists into the heart of communities instead of just tourist sites. Cheap travel and package holidays are enabling more people to take short city breaks and cruises, particularly in Europe. Social media also plays a role in popularising places like Myanmar, which go from being off-the-grid to “must-see” destinations overnight.
The shifting focus of governmental tourism agencies play a role in overtourism, as well. Many agencies are now almost exclusively marketing-focused and their singular goal is promoting growth. For instance, Tourism Australia’s “Tourism 2020” strategy is clearly growth-focused. Its goal is stated simply on the website - to achieve more than AU$115 billion in overnight spending by 2020 (up from AU$70 billion in 2009).
Sustainable tourism strategies, once heavily promoted in the 1990s and early 2000s, no longer seem to be as high a priority.
Is Australia really in danger of overtourism?
Australian tourism sites like Kangaroo Island aren’t seeing visitor numbers anywhere close to Venice and Barcelona just yet. However, poor tourism policies may still lead to a form of overtourism if locals perceive their quality of life is being damaged by tourists.
For instance, the 2011 Kangaroo Island Pro-Surf and Music Festival faced considerable community opposition for its proposal to bring 5,000 visitors to the small hamlet of Vivonne Bay (population 400). Recently published research examining the policy process indicated it was a push by tourism authorities to boost tourism on the island that led to the event being imposed on the community. The backlash was so severe, organisers abandoned plans to host the event again in subsequent years.
However, this hasn’t stopped other tourism development schemes from being proposed. And the state Economic Development Board has recommended doubling the numbers of tourists on the island by 2020.
Tasmania, too, has experienced a tourist backlash in recent years. Most recently, thousands came out to protest a proposed cable car for Mount Wellington near Hobart. With claims by critics that the cable car would draw upwards of 1 million tourists per year, one can readily see the seeds for overtourism.
Another site that could be in danger is the Great Barrier Reef. Agricultural run-off, climate change and a crown-of-thorns starfish outbreak are currently posing grave threats to the reef, which could spark a phenomenon known as “last-chance tourism”, – a rush to experience a place before it’s gone for good.
What can be done?
Most experts agree government regulations are key to addressing the threats from overtourism. Many cities, for instance, are following Barcelona’s lead to tighten restrictions on Airbnb. The Thai government is closing popular Maya Beach on Phi Phi Island for four months every year to allow the sea life to recover. Creatively, Copenhagen is promoting a tourism policy based on “localhood”:
"A long-term vision that supports the inclusive co-creation of our future destination. A future destination where human relations are the focal point. Where locals and visitors not only co-exist, but interact around shared experiences of localhood. Where our global competitiveness is underpinned by our very own localhood. And where tourism growth is co-created responsibly across industries and geographies, between new and existing stakeholders, with localhood as our shared identity and common starting point."
And in New Zealand, the tourism board is actively promoting tourism visits outside of peak season. This is a good example of how government agencies can use “demarketing” strategies, or deflecting interest in places, to address rising tensions over tourism. Similarly, Majorca’s authorities have tried to rebrand it as a winter destination in an effort to reduce overcrowding in the peak season.
<img src="https://counter.theconversation.com/content/99213/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">With its “Tourism 2020” strategy, Australia is focused instead on growing its visitor numbers. The national and local tourism bodies should take a more sustainable and holistic approach to their tourism planning to reflect the values and desires of local communities. That will ensure visitor numbers remain in check and tourism remains an enjoyable experience – for tourists and residents alike.
Freya Higgins-Desbiolles, Senior Lecturer in Tourism Management, University of South Australia
This article was originally published on <a href="http://theconversation.com" target="_blank">The Conversation</a>. Read the <a href="https://theconversation.com/why-australia-might-be-at-risk-of-overtourism-99213" target="_blank">original article</a>.
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Why Australia might be at risk of "over tourism"

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Creative workspace provider Spaces, has been named the winner of the best co-working space in Australia at the 2018 Qantas Business Travel Awards. 
This is the first year that the Qantas Business Travel Awards have given an award for co-working environments. 
CEO &amp; co-founder of Spaces, Martijn Roordink (picutred below) said that "to receive an award from one of the highest rated worldwide and the most popular airline in Australia is very meaningful for us".
<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/2018/7/11/Spaces%20CEO.jpg" alt="">
The award-winning office, X street Richmond, Melbourne, was one of the first co-working offices to be opened outside the Spaces headquarters in Amsterdam, Netherlands.
The integrated working environment of the award-winning office consists of desks, tables and booths in an open-plan design with caffeine coming from locally roasted single-origin beans.
Damien Sheehan, head of IWG Australia &amp; New Zealand says that he sees a shift in the workspace landscape in Australia and businesses are now looking closely at what this means for their corporate real estate portfolios.
“We are entering the era of the mobile workforce and it is hugely exciting, not just for individual employees, but for businesses too, there is a workspace revolution underway in Australia and businesses are waking up to the strategic and financial benefits that flexible office space can provide," stated Sheehan.
Today almost 70% of Australian employees are working at least one day a week somewhere other than the office, while 46% of Australian employees work remotely for half of the week or more and one in 10 people also work outside of their company’s main office location five times a week.
Spaces has locations in Europe, Canada, the United States, Latin America, Africa, Australia and Asia.  
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