<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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Teska Carson is marketing a warehouse/showroom property leased to Carpet Call on the Nepean Highway at Bentleigh in Melbourne’s south-eastern bayside suburbs.
The property will be auctioned on June 29 on site at 909 Nepean Highway.
The property comprises a single level, solid brick, 435 square metre facility with rear roller door access and eight designated car spaces within a 46 space car park.
It is located on a very well established showroom strip with Autobarn.
Bob Jane T-Marts, Forty Winks, Beacon Lighting, Kennards Hire and Hungry Jacks among others, the property is commercial 2 zoned.
The property will be sold subject to a three year lease from April 2017 to Carpet Call at $122,620 per annum net.
According to marketing agents, Teska Carson’s Luke Bisset and Michael Ludski, the high profile location is exposed to approximately 60,000 passing cars per day, making it an ideal position for showroom businesses.   
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j.ballantyne1990-6AQqhLzZaK

Carpet Call, Bentleigh premises listed for sale

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Botanica Whitsundays which has a licence to host 160 weddings annually with up to 100 guests, has been listed for sale
<a href="https://www.realestate.com.au/property-house-qld-woodwark-128659270" target="_blank">Botanica Whitsundays</a> is the private residence that has been a luxury wedding venue near Airlie Beach for the past decade.
Vendors Ralph and Janet Hogan turned their seaside villa at Woodwark into a wedding venue where the Balinese themed weddings start at $11,000 and can cost anywhere up to $45,000.
Fronted by 160 metres of Coral Sea frontage, the estate features a three bedroom main residence plus two bedroom guest pavilion.
A saltwater swimming pool overlooks the ocean on the 2.2 hectare parcel which features a number of outdoor living areas, manicured gardens, ponds, lush rainforest and wrap around veranda with rows of Balinese fluted timber columns.
Queensland Sotheby's agent Carol Carter has an August 6 auction.
This article was first published in The Weekend Australian.
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jchancellor-FAypfDUnLy

Botanica Whitsundays wedding venue listed for sale

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Media and entertainment giant Village Roadshow will be moving from its headquarters at the Jam Factory on South Yarra’s Chapel Street to nearby Wilson Street.
Fitzroys agents James Lockwood and James Spencer, negotiated the deal at $140,000 per annum net for the 500 sqm first floor space at 60 Wilson Street in South Yarra.
The self-contained office consists of a part-partitioned and part open-plan layout.
The triple-fronted site benefits from three on-site parking spaces and surrounding tenants.
Lockwood and Spencer said the strong leasing outcome was attributed to the quality of the offering and the lack of well-located office stock in South Yarra.
“We are seeing office tenants now seeking more than just good working space."
"They are looking for surrounding amenity such as dining, shopping and recreational options,” Spencer said.
“The property’s proximity to Chapel Street, Jam Factory and Botanic Gardens assisted in the uptake of this space by a premium tenant in Village Roadshow,” Spencer said.
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Village Roadshow relocates headquarters in South Yarra

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Australia is about to experience a ‘silver tsunami’ with the population aged over 65 growing at a rate never seen before, says the Property Council.
However, the booming demographic risks fewer and poorer housing options unless our state and territory governments do a better job of planning for housing for older Australians, including retirement villages.
The Retirement Living Planning Report Card, published by Urbis and commissioned by the Property Council of Australia, assesses states and territories on their performance in planning for seniors housing, with South Australia ranked first overall.
The Report Card includes four key recommendations for reform of planning to deliver better outcomes for the housing needs of older Australians:
<ul>
<li>Increase land availability</li>
<li>Support more commercially viable developments</li>
<li>Improve alignment with market needs</li>
<li>Elevate retirement living to state importance in planning schemes.</li>
</ul>
Ben Myers, executive director of retirement living at the Property Council, says with more than 3.7 million Australians aged 65 and over, it’s vital that age appropriate housing options exist in all parts of our major cities to meet increased demand.
“The Retirement Living Planning Report Card shows that our states, together with local governments, can provide a more strategic role in ensuring there is land available for forms of seniors housing, like retirement villages and other independent living communities,” Myers says.
“Issues such as zoning and overly restrictive height controls can inhibit the redevelopment potential of existing communities to ensure the expectations of Australian retirees are met.
“Without changes to planning policy and improved awareness at council level, seniors may find their choices limited, and be more likely to be stuck in homes that reduce their ability to stay independent and healthy.
“Retirees would benefit greatly from specific seniors housing policies and targets, to promote appropriate development, to ensure there are options available for people aged 65 and over.”
Kylie Newcombe, associate director at Urbis and author of the report card, says that when it comes to scoring planning systems, the scores are low overall with no single state standing out as an exemplar.
“We need to switch the mindset from planning as a barrier, to planning as an enabler," she says.
“Common hurdles to developing seniors housing are the ongoing competition for land, historic zoning and height restrictions, and a general lack of understanding of the market’s needs by authorities.
“Ideally, there would be a more flexible approach that is tailored to what seniors need and want,” Newcombe says.
 
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jonathanchancellor-7SQnKwU6yx

Silver tsunami coming as population aged over 65 soars: Property Council

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EXPERT OBSERVATION
National property booms are rare in this country. There are always regional differences playing out at any point in history. For investors, this is a good thing.
People often ask me if this is a good time to buy. I tell them it’s the wrong question. The right question is: where is it a good time to buy?
At any point in time, it’s a good time to buy somewhere in this vast and diverse nation.
I’ve spent some time studying a table listing the median house prices for our four largest cities and their annual growth rates since 1970, compiled from data from the ABS and other sources.
Over the almost 50 years covered by this table, there are only two short periods in which all four cities recorded double-digit price growth at the same time.
Most of the time Sydney, Melbourne, Brisbane and Perth have been doing their own thing: each has had strong growth periods during which the other three were not rising strongly.
According to these figures, Sydney had four years of very strong price growth from 1978 to 1981. During that same time frame, Melbourne and Perth had only moderate growth, while Brisbane sparked to life in 1981 and 1982.
Melbourne surged strongly from 1983 to 1986, but during that period price growth was negligible in Sydney, Brisbane and Perth.
Sydney and Melbourne both started strong growth markets in 1997, extending through to 2003. But Brisbane and Perth didn’t rise until 2002.
Perth continued to have very strong from 2004 to 2006, but the other three cities were weak during that phase.
Both Sydney and Melbourne had big growth from 2013 until recently, but neither Brisbane nor Perth joined the party.
The only brief periods in which all four major cities were strong in unison were 1988-1989 and 2002-2003.
Why do we have these regular differences? Because the national factors commonly quoted by economists to explain Sydney’s boom – like cheap and easy finance, and tax benefits for investors – are not the fundamental drivers.
Keep in mind that those two periods where we did have something approaching a national boom – the late nineties and the early noughties – were both periods when interest rates were high and rising.
Low interest rates and easy debt have not created booms in Brisbane, Perth, Adelaide, Darwin or Canberra in recent years.
Other major forces are in play. The strength or otherwise of the local economies are the dominating factor. 
The two cities (Sydney and Melbourne) underpinned by the strongest state economies, helped along by major infrastructure spending and strong population growth, have had property booms.
Cities (like Brisbane and Adelaide) with lukewarm economies have had moderate or stagnant property markets while those (Perth and Darwin) afflicted by very weak state economies have had property prices in reverse.
Hobart has risen recently on the back of big improvements in the Tasmanian economy.
It doesn’t surprise me that Brisbane and Perth have often had different property cycles to Sydney and Melbourne. The underlying economies of Queensland and Western Australia (with their strong reliance on the resources sector) are very different to those in NSW and Victoria.
In terms of what happens next, I think it’s significant that both Brisbane and Perth started property growth cycles in the early part of this century around the time that Sydney and Melbourne’s previous run was ending.
Right now, Sydney and Melbourne are winding down after four to five strong years. And the evidence is mounting that Brisbane and Perth are on the cusp of growth phases, helped by multiple factors including a revival of investment in the resources sector.
I would add Adelaide to the list, with the South Australian economy showing increasing signs of better performance, with more predicted to come.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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terryryder-YECXbqmri2

It's not just about when to buy, it's about where to buy: Terry Ryder

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<div>In August 2017 I attempted to estimate the value and timing of forced interest-only ('IO') resets as a result of tighter lending standards. </div>
<div> </div>
<div>Since that time many rational borrowers have elected to switch to principal and interest (P&amp;I) loans to benefit from the more attractive mortgage rates on offer. </div>
<div> </div>
<div>APRA's quarterly ADI figures showed that the flow of new IO loans was under 16 per cent for a second consecutive quarter. </div>
<div> </div>
<div>This dynamic combination has had a marked impact on the stock value of outstanding IO loans, declining by $93.2 billion of 16.1 per cent year-on-year.</div>
<div> </div>
<div>As a share of ADI residential term loan exposures IO loans have therefore been reduced to 31 per cent as at March 2018, well down from close to 39 per cent a year earlier. </div>
 
<div class="separator"><img src="https://1.bp.blogspot.com/-8ZXOTXlNodQ/Wy8El82AoVI/AAAAAAAAqwI/Ksa4JePKI1oQlWmiti6A7-46KuZ3uYeugCLcBGAs/s640/APRA1.jpg" width="640" height="374" data-original-height="803" data-original-width="1367"></div>
 
<div>Most borrowers appear to be handling the switch comfortably.</div>
<div> </div>
<div>Those most impacted are likely to be portfolio investors, although many of this cohort built their portfolios over a long period of time, building equity and cashflow in doing so. </div>
<div> </div>
<div>Some may have to sell a property or two in order to reduce debt. </div>
<div> </div>
<div>The share of higher loan-to-value (LVR) ratio lending continued to tighten in the March quarter, having already declined considerably since 2014. </div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-xenupVlmdH4/Wy8El_m7iWI/AAAAAAAAqwQ/-WTHJbrtXA4wGT7M1HI2xxF-dGZjeU-_ACEwYBhgL/s640/APRA2.jpg" width="640" height="366" data-original-height="790" data-original-width="1378"></div>
<div> </div>
<div>The latest figures relate to the first three months of 2018, so it's difficult to know whether the Royal Commission had any further impact over the following period through to June.</div>
<div> </div>
<div>It's interesting to note that the major lenders have lost some market share over time.</div>
<div> </div>
<div>Yet bank share prices saw a punchy rebound this week, possibly relating to a short squeeze, or more likely a pervading sense of relief as the media loses its appetite for daily stories from the Royal Commission. </div>
<div> </div>
<div>
PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.
</div>
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Most IO borrowers handling the switch to P&I comfortably

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Vacancy rates were steady in May, SQM Research has revealed.
The national residential vacancy rate was unchanged at 2.1% in May 2018, with the number of vacancies Australia-wide sitting at 69,152 properties.
The vacancy rate inched higher in Sydney and Melbourne, while it fell in Brisbane for the fifth straight month.
Sydney’s vacancy rate rose to 2.5% in May, up from 2.3% in April, and higher than 1.7% a year earlier.
Melbourne also saw its vacancy rate inch higher to 1.4%, up from 1.3% in April.
Canberra’s rate was steady at 0.8%, though down from 1.0% a year earlier.
Click to enlarge
<img src="https://www.urban.com.au/images/2018/6/21/Vacancy%20rates%20in%20june%20SQM.JPG" alt="">
SQM's Louis Christopher said there was good news for property investors in Brisbane, where the vacancy rate fell to 2.9% in May, down from 3.0% in April and 3.5% in May 2017.
"The decline in Brisbane represents the fifth straight monthly decline in rental vacancies," he said.
“We have more evidence that the worse is over for Brisbane property investors with vacancies falling for five straight months and even the Brisbane CBD is now recording consistent decline in vacancies. 
"We believe that a rise in interstate migration is lifting population growth rates in Brisbane plus the peak in unit completions is creating this turnaround in the rental market,” he said.
Hobart's vacancy rate was steady at 0.7%, but up from 0.5% a year ago.
Darwin’s vacancy rate rose to 3.5% from 3.3% in April.
Perth’s vacancy rate was steady at 4.1%, but down from 5.1% a year earlier as the oversupply of rental properties eases in that city.
Adelaide’s vacancy rate was also steady at 1.3%, but down from 1.7% a year ago.
Christopher, the managing director of SQM Research, said asking rents had eased in Sydney with greater supply of rental accommodation, giving some relief to home seekers.
“There are considerably more vacancies in Sydney now compared to a year ago, so landlords have lowered their asking rents slightly, which is favouring renters," stated Mr. Christopher
Capital city asking rents for houses fell over the month to 12 June 2018 by 0.5% to $551 a week.
Unit asking rents slipped 0.2% to $444 a week.
Over the year, asking house rents rose just 0.4%, while unit asking rents rose modestly by 0.9%.
While the asking rent for a three-bedroom house in Sydney remains the highest in the nation at $715 a week, rents fell 1.6% over the month to June 12, with the upward trend in the vacancy rate easing pricing pressures.
Asking unit rents now stand at $523, down by 0.5% over the month.
Canberra is catching up to Sydney with housing asking rents now standing at $631 a week and 451 for units, after growth of 2.1% for houses and units over the month.
In Melbourne, asking rents for houses were down over the month to June 12 by 0.8% to $529 while unit asking rents rose by 0.5% to $412.
In line with the fall in vacancies, Brisbane rents registered a rise for the past 30 days with rents for houses rising by 0.8% to $450 a week and units rising by 0.4% to $369 a week.
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Brisbane vacancy rate fall for fifth straight month: SQM

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<div>EXPERT OBSERVATION</div>
<div> </div>
<div>The regulatory throttling of mortgage lending maintained its firm stranglehold in the first quarter of 2018, with interest-only lending remaining at just 15.7 per cent of new residential term loans by value (a far cry from 45.6 per cent at the September 2015 peak). </div>
<div> </div>
<div>Both the stock and flow of interest-only loans has been significantly reduced by the introduced macroprudential measures. </div>
 
<div><a href="https://4.bp.blogspot.com/-2jv1gfRCvAw/Wysf2SDxvrI/AAAAAAAAqss/WcKMXyO_Hp0MOWLqTZC2PrTCLWw5XHb9ACLcBGAs/s1600/APRA1.jpg"><img src="https://4.bp.blogspot.com/-2jv1gfRCvAw/Wysf2SDxvrI/AAAAAAAAqss/WcKMXyO_Hp0MOWLqTZC2PrTCLWw5XHb9ACLcBGAs/s640/APRA1.jpg" width="640" height="370" data-original-height="798" data-original-width="1374"></a></div>
 
<div>Tighter loan-to-value (LVR) ratios also continued to be applied in Q1, with just 6.8 per cent of new residential lending at LVRs of 90 per cent or greater in the March 2018 quarter. </div>
<div> </div>
 
<div><a href="https://3.bp.blogspot.com/-7mEIZLUEhXo/Wysf2kwS39I/AAAAAAAAqsw/oNlM9WmxH6sZOhK4rQHu8m3clxqeyt0bgCLcBGAs/s1600/APRA3.jpg"><img src="https://3.bp.blogspot.com/-7mEIZLUEhXo/Wysf2kwS39I/AAAAAAAAqsw/oNlM9WmxH6sZOhK4rQHu8m3clxqeyt0bgCLcBGAs/s640/APRA3.jpg" width="640" height="370" data-original-height="797" data-original-width="1378"></a></div>
 
<div>Loans approved outside serviceability were well down from the December 2017 quarter spike, but remained at an elevated level implying that tighter standards almost certainly continued to bite throughout the first half of 2018. </div>
 
<div><a href="https://1.bp.blogspot.com/-TAISqpuzD5s/Wysf2uTdZ5I/AAAAAAAAqtA/m_X8X5T_vl82Rt4rcFuuj19tw9Z8pcYRACEwYBhgL/s1600/APRA2.jpg"><img src="https://1.bp.blogspot.com/-TAISqpuzD5s/Wysf2uTdZ5I/AAAAAAAAqtA/m_X8X5T_vl82Rt4rcFuuj19tw9Z8pcYRACEwYBhgL/s640/APRA2.jpg" width="640" height="372" data-original-height="792" data-original-width="1360"></a></div>
<div> </div>
<div> </div>
<div>PETE WARGENT is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</div>
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Interest-only loans stay low: Pete Wargent

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Relectrify, the electric car battery repurpose firm, has agreed terms on a new lease over an office and warehouse space at Cremorne in Melbourne’s inner eastern suburbs. 
The 290 sqm property at <a href="https://www.realcommercial.com.au/property-offices-vic-richmond-502638822" target="_blank">6 Hill Street </a>was leased on a two year term with options at a net annual rental of $60,000 plus GST.
Teska Carson’s Jack Kelliher and Fergus Evans leased the property.
Kelliher said the fully self-contained and extremely well presented, two level building featured lots of natural light.
He said the tenant was also attracted by the close proximity to Richmond retail and entertainment precincts, the CBD and public transport. 
"The property is situated just off Church Street, within the lively Cremorne precinct and is also within walking distance of Richmond and East Richmond railway stations. 
"Cremorne and/or Richmond is a very popular area. It’s very close to the CBD and offers residents and businesses access to a comprehensive and quality range of amenity and services.
"The property offered all of that along with a superb, light-filled, premises,’’ Kelliher said.
The lessor was a Melbourne-based private investor.
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Electric car battery repurpose firm Relectrify renew Cremorne lease

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Hotel developer and operator Paul Fischmann will market rooms in his recently acquired Surry Hills hotel through Airbnb.
He says its because it's a "hell of a lot cheaper than using online travel agents".
Airbnb charges commission rates of about 3%, while online travel agents like Expedia and Booking.com can take up to 20% of a hotel booking.
Fischmann's 8Hotels will develop a new 40-room boutique Surry Hills hotel, after acquiring a 329 square metre site off-market from Colin Rahim and Peter Sukkar, the founders of construction firm Growbuilt.
The new hotel will have a "Lower East Side New York" feel, The Australian Financial Review reported.
The site at 202-210 Elizabeth Street will be developed into a $30 million hotel. It is next to the Triple Ace Bar.
<a href="https://www.realcommercial.com.au/property-land+development-nsw-surry+hills-502478770" target="_blank">The site</a> had a permit for a boarding house with approval for 38 self-contained boarding house rooms including private bathrooms and kitchens and two ground floor retail shops fronting Elizabeth Street.
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