<p data-end="200" data-start="0">New development specialists Lachlan Cottee and Ben Dalgleish have unveiled their new development firm, Dalcott, following several successful projects delivered under the Pyco banner across the region.</p>

<p data-end="376" data-start="202">Pyco is currently delivering Atelier in nearby West End, Nouveau in Albion, and Onde at Kirra, its debut Gold Coast apartment development in the booming Kirra Beach precinct.</p>

<p data-end="583" data-is-last-node="" data-is-only-node="" data-start="378">Its first plans under the new Dalcott banner are in South Brisbane, which has been Brisbane’s most enquired-on suburb so far in 2026, while neighbouring West End has also continued to record strong demand.</p>

<p data-end="1091" data-start="626">The developer already has approval for an 11-storey building with 65 apartments on Browning Street, however has recently acquired the adjoining 910 sqm site at the rear, creating a combined 2,746 sqm footprint that will now allow for two 11-storey buildings with 92 large-scale apartments, a configuration Cottee and Dalgleish have focused on across their local portfolio.</p>

<p data-end="1244" data-start="1093">The project, known as <a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a>, will comprise 84 three-bedroom apartments, 16 of which will include an additional multipurpose room, and just eight two-bedroom residences.</p>

<p data-end="1383" data-start="1246">DAH Architecture has led the design of Marrone, which will include more than 330 sqm of communal open space and rooftop recreation areas.</p>

<p data-end="1383" data-start="1246"><img alt="Marrone" data-entity-type="file" data-entity-uuid="7eeea1a0-be23-47c8-80fb-3409428241fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-21%20at%209.36.38%E2%80%AFAM.png?VersionId=pZW7o.tB7oJovYCRIFSxrZbMr6QdpHy." /></p>

<p data-end="1473" data-start="1385">Cottee told Apartments.com.au the project reflects a gap in Brisbane’s apartment market.</p>

<p data-end="1571" data-start="1475">"It is an area we know well with Atelier, another development which focuses on large apartments, less than 300 metres away," Cottee says.</p>

<p data-end="1824" data-start="1573">"There's limited supply of large-scale apartments of this size in a single building in Brisbane. The majority of apartments in this category are in considerably smaller buildings, on the water, and are only really accessible to the deepest of pockets.</p>

<p data-end="1953" data-start="1826">"Marrone will offer the same size and scale, but with greater amenity and at a much more realistic price point for the market."</p>

<p data-end="2256" data-start="1955">The architectural approach reflects the continued evolution of South Brisbane’s higher-density residential character. Renders show a heavily landscaped façade composition with curved balconies, textured brickwork, deep recesses, and integrated planting aimed at softening the scale of the twin towers.</p>

<p data-end="2486" data-start="2258">The revised proposal builds on the design narrative established in the original scheme. In the earlier submission, Gatehouse Architects described the project as a continuation of Browning Street’s long-term urban transformation.</p>

<p data-end="2691" data-start="2488">“The proposal echoes the spirit of early developments like Watson Terrace (built in 1888), by contributing to the growth and diversification of the local population,” the original design statement noted.</p>

<p data-end="2918" data-start="2693">“Just as Watson Terrace played a role in the area’s early gentrification, this development continues that trajectory, delivering contemporary housing that addresses the evolving needs of South Brisbane’s expanding community.”</p>

<p data-end="3297" data-start="3024">The updated proposal, designed by DAH Architecture, spans a 2,746 sqm corner site with frontages to Browning and O’Connell Streets. The development will comprise two 11-storey residential buildings delivering 92 apartments, replacing the previously proposed 65-unit scheme.</p>

<p data-end="3673" data-start="3299">The apartment mix has shifted further toward larger owner-occupier residences, continuing Dalcott’s established strategy across South East Queensland. The plans include 68 three-bedroom apartments, 16 three-bedroom apartments with multipurpose rooms, and eight two-bedroom residences. Two basement levels will provide 142 car spaces, alongside bicycle parking for 115 bikes.</p>

<p data-end="3950" data-start="3675">The larger Marrone proposal arrives amid sustained redevelopment momentum across South Brisbane and the wider Kurilpa precinct, where developers are increasingly targeting owner-occupiers seeking larger apartments close to the CBD, cultural precincts, and riverfront amenity.</p>

<p data-end="4211" data-start="3952">The site sits within walking distance of South Bank, the Queensland Performing Arts Centre, Brisbane State High School, and several major transport connections, while nearby Fish Lane and West End continue to drive demand for higher-end inner-city apartments.</p>

<p data-end="4458" data-is-last-node="" data-is-only-node="" data-start="4213">Cottee is expecting Marrone to launch around August with Realm Projects.</p>


Joel Robinson

Exclusive: Dalcott doubles down on South Brisbane with twin-tower Marrone plans

<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:9894702f-d5ab-4186-930d-8f794421c3c4-0" data-turn-id-container="request-WEB:9894702f-d5ab-4186-930d-8f794421c3c4-0" dir="auto">
<p data-end="437" data-start="182"><a href="https://www.apartments.com.au/developers/doma-group">DOMA Group</a> has unveiled plans for Newcastle Quay, a major waterfront precinct set to reshape Newcastle’s harbourfront and further cement the city’s evolution into one of Australia’s fastest-growing urban destinations.</p>

<p data-end="707" data-start="439">Positioned on a prominent site within the Honeysuckle Precinct, Newcastle Quay will span both sides of Honeysuckle Drive, connecting directly to the Foreshore Promenade and sitting within walking distance of Newcastle Interchange.</p>

<p data-end="1068" data-start="709">The mixed-use precinct is planned to include around 1,000 apartments, more than 28,000 sqm of commercial office space, 6,000 sqm of retail, and a 180-room hotel anchored by a 500-seat conference and exhibition centre, a move expected to significantly lift Newcastle’s ability to attract major business and tourism events.</p>
</section>

<p><img alt="DOMA Group unveil Newcastle’s future with transformative Newcastle Quay Precinct" data-entity-type="file" data-entity-uuid="0642ca09-67cc-4920-8a7e-d18df9729b4e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/%3D.png?VersionId=CnDmZxQnOV5LN0ePu7jaFBXC9tPGTrWm" /></p>

<p data-end="1381" data-start="1070">The proposal builds on DOMA’s growing Newcastle pipeline, where the developer has already delivered 866 apartments and more than 19,000 sqm of commercial and retail space since entering the market in 2013. A further $2 billion pipeline is also in the works across the city.</p>

<p data-end="1756" data-start="1383">The masterplan and executive architecture are led by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, with building concepts developed alongside Stewart Architecture, Architecture AND and Curious Practice, and landscape design by <a href="https://www.apartments.com.au/landscape-architect/turf-design">Turf Design Studio</a>. More than 11,000 sqm of open space is planned, including a new waterfront park known as Honeysuckle Green, upgrades to Tree of Knowledge Park, and new pedestrian and cycling links throughout the precinct.</p>

<p data-end="2022" data-start="1758">At the centre of the development will be the heritage-listed Wickham School of Arts, which DOMA plans to reposition as the civic and cultural heart of the precinct through restaurants, bars, events and public gathering spaces.</p>

<p data-end="2254" data-start="2024">The broader vision is to create a genuine day-to-night precinct, blending residential, hospitality, retail, commercial and cultural uses in a way Newcastle has yet to experience at this scale.</p>

<p data-end="2407" data-start="2256">DOMA Group Managing Director Jure Domazet said the aim was to create a precinct that becomes synonymous with Newcastle itself.</p>

<p data-end="2644" data-start="2409">“Our vision is to create a precinct that not only delivers high-quality commercial, residential, and cultural spaces, but also defines Newcastle’s waterfront for generations to come,” Domazet said.</p>

<p data-end="2752" data-start="2646">DOMA’s Chris Farrington said the project would fundamentally change how Newcastle is perceived nationally.</p>

<p data-end="2868" data-start="2754">“Newcastle Quay is more than a waterfront precinct, it is a national announcement for this city,” Farrington said.</p>

<p data-end="3111" data-start="2870">“A world-class Conference and Exhibition Centre will open Newcastle and the Hunter Region to a national and international audience for the first time, delivering something this city has long deserved.”</p>

<p data-end="3360" data-is-last-node="" data-is-only-node="" data-start="3113">The project is expected to generate more than 4,000 full-time equivalent jobs and act as a major economic driver for the Hunter region through tourism, business events, hospitality and commercial investment.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>Minister for Planning and Public Spaces Paul Scully said the final parcel of harbourfront land will be a "true mixed-use precinct destination that includes housing, hospitality and entertainment, commercial spaces, retail, economic and social outcomes."</p>


DOMA Group unveils 1,000-apartment Newcastle Quay precinct

<p data-end="262" data-start="143">ASX-listed developer Stockland is continuing to ramp up its return to the apartment market.</p>

<p data-end="451" data-start="264">In late 2024, <a href="https://www.apartments.com.au/developers/stockland">Stockland</a> announced it would resume apartment development after a 13-year absence, launching with Stanton Place in Rosebery, a 144-apartment project now under construction.</p>

<p data-end="560" data-start="453">Last week, the developer unveiled plans alongside the NSW Government for a <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-nsw-gov-unveils-plans-for-3-300-home-waterloo-south-renewal">3,300-home precinct in Waterloo</a>.</p>

<p data-end="797" data-is-last-node="" data-is-only-node="" data-start="562">Now, Stockland has shifted its focus in St Leonards, lodging a State Significant Development Application (SSDA) to replace an approved 42-storey office tower with a 52-storey residential development comprising more than 500 apartments.</p>

<p><img alt="Stockland" data-entity-type="file" data-entity-uuid="8979095e-9072-432b-a7da-58b180cf994d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-20%20at%204.27.36%E2%80%AFPM.png?VersionId=_jbRXYOafCSHjwsz.yQCNIymMyCj8zkF" /></p>

<p>An existing 14-storey commercial office building would make way for a 264.5-metre tower designed by <a href="https://www.apartments.com.au/architects/bates-smart">Bates Smart</a>. The project would deliver 538 apartments, including 30 affordable housing units, alongside retail and commercial uses at the podium and ground plane.</p>

<p>It will rise from&nbsp;<a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">601 Pacific Highway</a>, a prominent 2,844 sqm triangular site adjoining Mitchell Plaza and fronting Pacific Highway.</p>

<p>The development is being pursued under the Housing Delivery Authority pathway after Stockland’s proposal was declared State Significant Development earlier this year.</p>

<p><img alt="First look: Stockland plans 52-storey mixed-use tower with 538 apartments in St Leonards" data-entity-type="file" data-entity-uuid="67f40f35-0458-47ab-80c0-a4e98a31838a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%201.png?VersionId=rxXe3njr.auuGDuiR0k42uI8Zr4K.gZA" /></p>

<p>The apartment mix includes 217 one-bedroom apartments, 191 two-bedroom apartments, 122 three-bedroom apartments, and eight four-bedroom residences. Six basement levels would accommodate 300 car spaces, bicycle parking, loading areas, and building services.</p>

<p>Bates Smart said the project has been shaped around a series of urban design principles intended to improve the pedestrian experience and respond to the evolving character of St Leonards.</p>

<p>“With a boundary length of almost 75m along Pacific Highway and 70m along Atchison Street to the north, complying simply with the LEP envelope and required setbacks would result in a very wide tower form on the skyline,” the architects noted in the Design Report.</p>

<p>“We propose breaking the tower form into two defined volumes rather than a singular form.”</p>

<p>The podium has similarly been articulated into separate forms to reduce perceived bulk and create a finer-grain response to Mitchell Plaza and Atchison Street. Retail tenancies would activate the lower levels, while commercial space is proposed across the podium floors.</p>

<p><img alt="First look: Stockland plans 52-storey mixed-use tower with 538 apartments in St Leonards" data-entity-type="file" data-entity-uuid="90149990-0551-40d2-bd48-14b69a015d12" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%202.png?VersionId=MJC2KIIWFvU9FPGr3IVq09gkRN_gX3m8" /></p>

<p>The design also places a significant emphasis on communal amenity and environmental performance. Residents would have access to landscaped terraces, wellness areas, flexible workspaces, and rooftop communal facilities, while the all-electric building is targeting an average 7-star NatHERS rating. Bates Smart said the project incorporates passive design measures including natural ventilation, integrated shading, and lightweight façade systems.</p>

<p>Planning documents note the site is around 350 metres from St Leonards Station and 400 metres from the metro entrance, placing it within one of Sydney’s most connected emerging residential precincts.</p>

<p>The project arrives amid a wave of large-scale redevelopment proposals reshaping the St Leonards and Crows Nest skyline. Several nearby sites have recently been approved, lodged, or declared under the Housing Delivery Authority pathway as the precinct absorbs significant residential density uplift tied to transit-oriented development policies.</p>

<p><img alt="Stockland" data-entity-type="file" data-entity-uuid="7805bd7c-dfd7-4b35-8e15-ec4a8bf8e61b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-20%20at%204.27.26%E2%80%AFPM.png?VersionId=iY12K2m2bQ6EeDnshqfZC9rbLx_oEugP" /></p>

<p>Bates Smart’s report describes St Leonards as transitioning away from its historical commercial identity toward a more mixed-use urban environment.</p>

<p>“In recent years, the character of St Leonards has started to evolve, driven by new development trends along the Pacific Highway corridor,” the report said.</p>

<p>“These projects have increasingly focused on residential accommodation, marking a shift from its purely commercial roots.”</p>

<p>Sekisui House Australia is currently selling Waterstone down near Newlands Park, in a pocket being branded "St Leonards South." Hyecorp recently completed Audrey in the same pocket.</p>


First look: Stockland plans 52-storey, 538-apartment St Leonards tower

<p data-end="186" data-start="128">ANZ believes the Reserve Bank is in no rush to move again.</p>

<p data-end="441" data-start="188">Following the release of the May Monetary Policy Board Minutes, ANZ has taken the view that the RBA is now firmly in a holding pattern, with the cumulative impact of previous rate hikes giving the Board scope to assess how the economy evolves from here.</p>

<p data-end="508" data-start="443">That positioning, in ANZ’s view, makes a June rate hike unlikely.</p>

<p data-end="680" data-start="510">The bank continues to expect the cash rate to remain unchanged at 4.35 per cent for an extended period, with the RBA adopting what is effectively a wait-and-see approach.</p>

<p data-end="1015" data-start="682">The Minutes point to a Board that sees financial conditions as already restrictive, but without a clear read on just how restrictive they are. That uncertainty has shifted the focus away from immediate policy action and toward monitoring both domestic conditions and global developments, particularly the conflict in the Middle East.</p>

<p data-end="1098" data-start="1017">As ANZ interprets it, the Board is deliberately avoiding strong forward guidance.</p>

<p data-end="1345" data-start="1100">Instead, it is allowing itself flexibility, acknowledging that monetary policy has limited ability to influence the near-term trajectory of inflation, while also recognising that economic growth is likely to remain below potential for some time.</p>

<p data-end="1436" data-start="1347">Despite that pause in momentum, ANZ notes that the Board still carries a tightening bias.</p>

<p data-end="1678" data-start="1438">The Minutes reveal that, in weighing up its decision, the Board seriously considered another 25 basis point increase. The key debate centred on the trade-off between inflation and activity, particularly in the context of global uncertainty.</p>

<p data-end="1755" data-start="1680">Ultimately, most members leaned toward the inflation side of that equation.</p>

<p data-end="2082" data-start="1757">Underlying inflation is still expected to remain above target for an extended period, regardless of how external risks evolve. That has led to a view within the Board that the risks to its inflation objective have increased, and that the current cash rate may not be sufficiently restrictive to fully contain those pressures.</p>

<p data-end="2101" data-start="2084">That’s important.</p>

<p data-end="2239" data-start="2103">While the decision, for now, is to hold, the underlying tone of the Minutes suggests the door to further tightening has not been closed.</p>

<p data-end="2597" data-start="2241">ANZ also points to commentary from Assistant Governor (Economic) Sarah Hunter, who highlighted the risk that inflation could pass through the economy more quickly and broadly than in previous cycles. Both Hunter and a majority of the Board expressed concern that inflation expectations could become less anchored after such a prolonged period above target.</p>

<p data-end="2733" data-start="2599">That combination, persistent inflation and the risk of expectations shifting, is what continues to underpin the RBA’s cautious stance.</p>

<p data-end="2807" data-start="2735">However, where ANZ diverges from the RBA is on the outlook for activity.</p>

<p data-end="3152" data-start="2809">The Board appears relatively comfortable with current spending patterns, effectively downplaying recent declines in business and consumer sentiment. It notes that sentiment has historically been only weakly correlated with actual spending, and that feedback from its liaison program has not yet pointed to a meaningful slowdown in consumption.</p>

<p data-end="3176" data-start="3154">ANZ is less convinced.</p>

<p data-end="3464" data-start="3178">The bank believes the link between household disposable income, sentiment and spending is more direct than the RBA is currently acknowledging. With inflation continuing to erode real incomes, ANZ expects household spending to soften more materially than the central bank is forecasting.</p>

<p data-end="3528" data-start="3466">That divergence matters because it shifts the balance of risk.</p>

<p data-end="3740" data-start="3530">If activity weakens more than expected, the trade-off between inflation and growth changes. In ANZ’s view, that would reduce the need for further tightening and reinforce the case for the RBA to remain on hold.</p>

<p data-end="3855" data-start="3742">It also suggests that the current policy setting may already be doing more work than the Board fully appreciates.</p>

<p data-end="3945" data-start="3857">The broader takeaway from ANZ’s interpretation is that the RBA is walking a narrow path.</p>

<p data-end="4135" data-start="3947">On one side sits the risk of inflation remaining elevated for longer than expected. On the other is the growing pressure on households and the potential for a sharper slowdown in activity.</p>

<p data-end="4176" data-start="4137">For now, the Board is choosing to wait.</p>

<p data-end="4286" data-start="4178">But it is a pause that still carries an underlying tightening bias, rather than a clear pivot toward easing.</p>

<p data-end="4423" data-start="4288">In practical terms, that leaves the cash rate anchored at 4.35 per cent for the foreseeable future, with the next move still uncertain.</p>

<p data-end="4494" data-start="4425">For borrowers, it reinforces the reality that relief is not imminent.</p>

<p data-end="4686" data-start="4496">And for the broader economy, it highlights the delicate balance the RBA is trying to strike, between bringing inflation back to target and avoiding an unnecessarily sharp slowdown in growth.</p>

<p data-end="4774" data-is-last-node="" data-is-only-node="" data-start="4688">According to ANZ, it is a balance that is becoming increasingly difficult to maintain.</p>


RBA to hold rates for "prolonged period" rather than hikes: ANZ

<p><a href="https://www.apartments.com.au/developers/venturecrowd-property-projects">VentureCrowd</a> is down to the final Canopy Villa release at Cumulus Grand Villas in Carrara, as construction continues on the 59-residence gated community positioned above 100 hectares of natural savanna on the Gold Coast.</p>

<p>The remaining Canopy Villa forms part of one of four collections within the <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>-designed community and has attracted interest from buyers seeking larger-format homes that combine privacy, security and low-maintenance living. Positioned within a private cul-de-sac and facing a protected black she oak forest, the four-bedroom villa includes a large private outdoor area suited to pet owners and families wanting more flexible space.</p>

<p><a href="https://www.apartments.com.au/new-townhouses/cumulus-grand-villas-carrara-17-baltimore-court-carrara-qld-4211">Cumulus Grand Villas</a>, located at 17 Baltimore Court, comprises a mix of three and four-bedroom villas across the Skyline, Canopy, Savanna and Broadview collections. Prices currently range from $1.455 million to $1.895 million, with the final Canopy Villa priced from $1.825 million.</p>

<p>[smartcode_project:default project_id=135663 project_image_fid=360477]</p>

<p>The Canopy Collection villas offer four bedrooms, 2.5 bathrooms and approximately 245 sqm of internal space, alongside double garages and landscaped private areas. Expansive glazing, open-plan living spaces and private balconies have been designed to maximise natural light and outlooks toward the surrounding savanna landscape.</p>

<p>Construction is now underway across the fully funded development, which VentureCrowd says has become an increasingly important consideration for buyers assessing off-the-plan opportunities on the Gold Coast. The project is being delivered by <a href="https://www.apartments.com.au/builders/devcon">Devcon Property Group</a>, which has operated in South East Queensland since 1993 and delivered more than 1,000 homes across the region.</p>

<p>VentureCrowd Director of Property David Whitting previously said the project responds to changing buyer priorities in the prestige Gold Coast market.</p>

<p>“Flexible floorplans have proven particularly relevant for purchasers aged between 40 and 65, including next home buyers, downsizers and investors,” Whitting said.</p>

<p>[smartcode_project:default project_id=135663 project_image_fid=360505]</p>

<p>The buyer profile at Cumulus has reflected that shift toward owner-occupier-driven demand. Stuart Towns and Tracey Loynes recently purchased a Canopy Villa, drawn to both the lifestyle offering and the flexibility the home provided for their next stage of living together.</p>

<p>The couple, who met three years ago, sold their Robina home earlier this year after identifying what they saw as strong long-term investment potential at Cumulus while remaining within the same Gold Coast market. The villa’s private backyard was a major drawcard for their dog Luna, while proximity to golf courses including Emerald Lakes also aligned with their lifestyle interests.</p>

<p>Beyond the residences themselves, the community has been planned around shared lifestyle and recreation amenities. The Infinity Terrace will include a 20-metre heated pool, barbecue facilities, alfresco dining spaces and elevated retreat areas overlooking the surrounding landscape. Walking trails, a private nature reserve, orchard and herb garden are also integrated into the masterplan.</p>

<p>[smartcode_project:default project_id=135663 project_image_fid=360473]</p>

<p>BDA Architecture Director Darren Greenaway said the design approach was heavily influenced by the site’s outlook and secluded setting.</p>

<p>The practice sought to create what Greenaway described as a “little piece of paradise,” drawing inspiration from the elevated views, surrounding greenery and quiet location.</p>

<p><a href="https://www.apartments.com.au/developments/carrara-qld-4211">Carrara</a> continues to attract buyers seeking larger homes within proximity to the coast but without direct beachfront pricing. Cumulus sits within easy reach of Broadbeach, Pacific Fair, Robina Town Centre and the M1, providing connections north to Brisbane and south toward the Gold Coast Airport and northern New South Wales.</p>

<p>The first stage of Cumulus Grand Villas is targeting completion in 2026.</p>

<p>[smartcode_project_cta:default project_id=135663]</p>


VentureCrowd nears sell-out of Canopy Collection at Cumulus Grand Villas in Carrara

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


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

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<p>An investment property leased to McDonald’s has come to the market at Norlane at North Geelong.</p>
<p>400 Melbourne Road is available for purchase with an expected price of just over $2,000,000.</p>
<p>“The low, affordable rental of $117,434 per annum reflects the property being subject to a ground lease with McDonald’s owning the building and all other above ground improvements” explained Raoul Holderhead, managing director of Burgess Rawson.</p>
<p>“With McDonald’s having re-built the building in 2003 and in recent years adding a McCafe, it is safe to say McDonald’s plan is to stay.” Mr Holderhead added.</p>
<p>The lease is for 5 years plus 20 years of options through to 2038 with rental reviews annually to CPI and to market, the next due in 2018 upon the exercise of option.</p>
<p><a href="https://www.burgessrawson.com.au/3P1137#.ViSSoLSqqko" target="_blank">The site 3,277 sqm </a>with 48 onsite car spaces is almost double that of a normal fast food outlet.</p>
<p>"The busy and proven location is evident by some 37,000 cars passing the property each day," he said.</p>
<p>The site has been a McDonalds since 1980.</p>
<p><span>Greater Geelong is a growing regional city of 220,000 plus, predicted to double by 2050, according to the G21 Regional Growth Plan.</span></p>
<p><span>The tenant pays all usual outgoings including land tax.</span></p>
<p><span>Burgess Rawson is a leading investment sales specialist, pioneers of the portfolio auction system, which celebrates its 100th auction this October.</span></p>
<p><span>Beginning in 1975, Burgess Rawson established a nationwide network of offices and is Australia's largest locally owned and operated commercial property agency, marketing more than 10,000 properties and generating sales in excess of $25 billion over the past 40 years.</span></p>
<p><span>For more Burgess Rawson listings <a href="https://www.burgessrawson.com.au/portfolio-auctions" target="_blank">click here</a>.</span></p>
<p><span> </span></p>
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jchancellor-FAypfDUnLy

One with the lot - McDonald's Geelong listed for October auction with $2 million plus expectations

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<p><span>The Woolworths supermarket at Dural is up for auction through Burgess Rawson on October 29.</span></p>
<p><span><a href="https://www.burgessrawson.com.au/buying/NSW/Hills/Dural/Retail/3P1167#.ViWpM94bSZx" target="_blank">The 508 Old Northern Road store</a></span><span> is currently on a 20-year lease to 2023 with options to 2053.</span></p>
<p><span>Located in Sydney's north western growth corridor, the supermarket is spread across 4,356 square metres.</span><span style="line-height: 1.3em;"> </span></p>
<p><span>Its annual rent is $1,102,900.</span><span style="line-height: 1.3em;"> </span></p>
<p><span>It has 200 car parks.</span></p>
<p><span>The tenant pays all outgoings, including land tax as per lease.</span></p>
<p><span>The property has been listed through Graeme Watson and Simon Staddon.</span></p>
<p><span>The agents noted this was a supermarket on an "old fashioned net lease," with the tenant paying outgoings that neither Coles nor Woolworths no longer agree to.</span></p>
<p><span>"The strong trading Woolworths supermarket is located in the heart of Dural, one of Sydney’s affluent suburbs," Graeme Watson said.</span></p>
<p><span>"The presents not only as a rare investment opportunity but also a secure one” he said.</span></p>
<p><span>Set 32kms from the centre of Sydney, it adjoins Dural Mall, a shopping centre with numerous specialty shops, all adding to Dural’s strong overall customer draw.</span></p>
<p><span>Itis expected to sell at circa $17,000,000 reflecting a yield in the order of 6.5%.</span></p>
<p><span>The property will be auctioned at Sydney’s Sofitel Wentworth Hotel as part of Burgess Rawson’s Investment Portfolio Auction 100. </span></p>
<p><span>Late last year, Burgess Rawson sold off a Woolworths supermarket in rural Gloucester, NSW for $9.88 million on a 5.88 per cent net yield.</span></p>
<p><span>Burgess Rawson is a leading investment sales specialist, pioneers of the portfolio auction system, which celebrates its 100th auction this October.</span></p>
<p><span>Beginning in 1975, Burgess Rawson established a nationwide network of offices and is Australia's largest locally owned and operated commercial property agency, marketing more than 10,000 properties and generating sales in excess of $25 billion over the past 40 years.</span></p>
<p><span>For more Burgess Rawson listings <a href="https://www.burgessrawson.com.au/portfolio-auctions" target="_blank">click here</a>.</span></p>
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Dural Woolworths offers old fashioned net lease

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<p><span>Multinational grocer Supa IGA's store in NSW's Cobar is going under the hammer on October 29 at a Burgess Rawson auction.</span></p>
<p>Sitting at <a href="https://www.burgessrawson.com.au/2P0558#.ViWoO94bSZw" target="_blank">29-33 Marshall Street</a>, the store is spread over 3,642 square metres in the town.</p>
<p><span>The store is currently on a 15-year lease to IGA Distribution Pty Ltd up until August 2019 with a further 15-year option.  </span></p>
<p><span>The expected net income is $335,549 plus GST. There is a fixed 3% annual rent increase.</span></p>
<p><span>The indicative price is $3.35 million, translating to a net yield of nearly 10%.</span></p>
<p><span>The listing is by Dean Venturato.</span></p>
<p><span>Around 700 kilometres from Sydney, Cobar is nearly two-thirds the size of Tasmania and is home to about 5,120 people, according to the Cobar county website.</span></p>
<p><span>The area has reaped the benefits of mining - copper, lead, silver, zinc, gold - and pastoral industries.</span></p>
<p><span>Burgess Rawson is a leading investment sales specialist, pioneer of the portfolio auction system, which celebrates its 100th auction this October.</span></p>
<p><span>Beginning in 1975, Burgess Rawson established a nationwide network of offices and is Australia's largest locally owned and operated commercial property agency, marketing more than 10,000 properties and generating sales in excess of $25 billion over the past 40 years.</span></p>
<p>For more Burgess Rawson listings <a href="https://www.burgessrawson.com.au/portfolio-auctions" target="_blank">click here</a>.</p>
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j.ballantyne1990-6AQqhLzZaK

Supa IGA store in NSW's Cobar up for sale 

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<p class="Body">One of the side effects of Sydney’s boom is that prices have risen a lot but rents haven’t, so yields have become ugly – i.e. not attractive to investors.</p>
<p class="Body">Melbourne prices haven’t risen as much (generally speaking) but the city has developed a gap between prices and rents similar to Sydney’s. These days you’re lucky to find a rental yield as high as 3% - which, even in these days of low interest rates, is unappealing.</p>
<p class="Body">Other capital cities like Adelaide and Brisbane have much better yields on offer, but for investors seeking properties that can pay their own way the pickings are slim.</p>
<p class="Body">There was a time when investors could access double-digit rental yields in resources-related locations (if they were willing to disregard risk). But many of those markets have collapsed, either through developer over-supply or the impact of FIFO workforces or the mining downturn - or some combination of those three factors.</p>
<p class="Body">There’s nowhere left that provides 10%-plus rental yields. Some of the more careless research houses publish lists claiming you can get 15% or 20% yields in certain locations, but those are statistical aberrations that prove the adage about “garbage in, garbage out”, exacerbated by researchers with a garbage approach to business ethics (as long as it generates publicity, to hell with accuracy).</p>
<p class="Body">A recent list claimed you could get yields above 30% (!!) in Mission Beach in Queensland, when in reality typical yields on residential property in this location are below 5%. If 30% yields were truly achievable, every investor in Australia would be stampeding north and buying every property in sight.<span style="line-height: 1.3em;"> </span></p>
<p class="Body">The best yields you can find anywhere in Australia – I mean genuine rental yields based on real situations, not computer glitches, in locations of substance – are to be found in Cairns.</p>
<p class="Body">Cairns is one of a number of regional Queensland cities where you can readily buy property that pays its own way – i.e. cash flow positive or at least neutral.<span style="line-height: 1.3em;"> </span></p>
<p class="Body">In the North Queensland city, you can find plenty of houses with rental returns in the 5.5% to 6% range and apartments between 7% and 8%. I can’t find another market of substance with rental yields that strong.<span style="line-height: 1.3em;"> </span></p>
<p class="Body">Other regional cities in the state offer attractive returns as well. The Sunshine Coast, Townsville and Hervey Bay have this in common: houses where yields are typically in the 4.7% to 5.5% range and units that generally range from 5.7% to 6.5%. If you hunt around, you can find better.</p>
<p class="Body">The other common things they share are strong economies, growing populations, major spending on infrastructure, ambitious local councils and plenty of affordable dwellings. They’re all on growth paths, some of them after long periods of under achievement.</p>
<p class="Body">Some, like Cairns and the Sunshine Coast, are transition economies, where civic and business leaders have recognised that the historic reliance on tourism makes them vulnerable to downturns caused by forces beyond their control. So they’ve been proactively working to broaden the economic base and encourage new industries.</p>
<p class="Body">The Sunshine Coast now has a medical sector that didn’t previously exist, based on the $2 billion University Hospital which is generating all kinds of new medically-related development around it. It’s helping the Sunshine Coast become a regional city, rather than a coastal retreat for tourists and retirees. Similar things are happening in Cairns and, to a lesser extent, in Hervey Bay.</p>
<p class="Body">These property markets are starting to deliver good price growth and strong rents, with yields far in excess of what you can get in any of the capital cities.</p>
<p class="BodyA"> <em>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em></p>
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terryryder-YECXbqmri2

Sydney rental yields becoming ugly: Terry Ryder

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<p><span>OK so the </span>ABS Building Activity<span> data series doesn't quite run back to 1788, but take a Captain Cook at this:</span></p>
<p><a href="/images/2015/10/19/BA3.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/19/BA3.jpg" alt=""></span></p>
<p> </p>
<div>Dwelling completions have surged to their highest ever level with more than 186,000 homes completed over the past year.<br><br>Furthermore there are presently some 184,000 dwellings under construction, which is the highest number in Australia's history.</div>
<div> </div>
<div>Many pundits scoffed at the Reserve Bank's plan to stimulate construction, but prices are rising and supply has responded with a vengeance, despite inflation in the cost of trades and materials. </div>
<div> </div>
<div>As the largest cities have become denser over time, this construction cycle has largely been a story of units, townhouses and apartments - the "attached dwellings" sector. </div>
<p><strong><span style="text-decoration: underline;"><br></span></strong><strong><span style="text-decoration: underline;">Building work done</span></strong><br><br></p>
<div>It should be acknowledged that in spite of all the numbers that are being thrown around in relation to record home starts, record completions and record dwellings under construction, the residential construction boom has likely now nudged against its peak. </div>
<div> </div>
<div>Despite being higher over the year the value of new residential building work done slipped -3.4 per cent lower in the June quarter to $12.8 billion, although the resi sector was held up to some extent by a long overdue +4.0 per cent surge in major renovations work. </div>
<div> </div>
<div>There has not been much to shout about from the non-residential sector since the financial crisis stimulus. </div>
<div> </div>
<div><a href="/images/2015/10/19/BA1.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/10/19/BA1.jpg" alt=""></div>
<div> </div>
<div><span>At the state level the economies of the most populous states have benefited from a building boom, but the value of building work done appears to have peaked, albeit remaining at a historically high level. </span></div>
<div><span> </span></div>
<div><a href="/images/2015/10/19/BA2.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div><span><img src="/images/2015/10/19/BA2.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<strong><span style="text-decoration: underline;">Dwelling completions by state</span></strong><br><br><div>Where are new houses coming online? Mainly in Victoria with more than 31,000 houses completed over the past year.</div>
<div> </div>
<div><a href="/images/2015/10/19/BA4.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/10/19/BA4.jpg" alt=""></div>
<div> </div>
<div><span>As for units and apartments there has been a strong completion rate across most of the larger states, with Victoria again leading the way in completing nearly 25,000 units over the past year. </span></div>
<div><span> </span></div>
<div><a href="/images/2015/10/19/BA5.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div><span><img src="/images/2015/10/19/BA5.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div>Although it will be the topic of a separate blog post, these figures show why the "Sydney oversupply" meme has been wide of the mark. </div>
<div> </div>
<div>The above charts represent state level figures, and it is clear that the supply of new units and apartments has ramped up impressively over the past four years.<br><br>But despite the improvement, total dwelling completions in New South Wales of 144,000 dwellings is barely keeping pace with a population which has surged by close to 400,000 over that time, while this follows on from a weak half decade of completions in the harbour city which ran from 2005.</div>
<div> </div>
<div>After accounting for stock obsolescence and demolitions, the thousands of apartments which are left vacant, and the fact that close to half of new dwellings in NSW over that time have been units (which typically house only provide accommodation for a couple)...well, there's not much overbuilding in aggregate to be found in those numbers, even if the rentals market is now fully supplied.<br><br>It is much more difficult for a growing city with a population the size of Greater Sydney (approaching 5 million) to overbuild housing than it is for a city the size of, say, Belfast, although Melbourne is certainly giving its best shot.<br><br>For all that, there are of course plenty of sub-regions around Australia with localised oversupply, and particularly so the case of higher-density dwellings. </div>
<br><strong><span style="text-decoration: underline;">Commencements peak at record high</span></strong><br><strong><span style="text-decoration: underline;"><br></span></strong>
<div>Total commencements have increased by +14 per cent over the past year to a new high of nearly 210,000.</div>
<div> </div>
<div>It was another strong quarter in June, but the 53,314 commencements result was below that of two of the preceding three quarters, and it is forecast that commencements will now decline through 2015/16.</div>
<p><a href="/images/2015/10/19/BA6.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/10/19/BA6.jpg" alt=""></p>
<p> </p>
<p><span>Finally, there are 184,000 dwellings under construction at the present time, which is the highest figure in Australia's history. </span></p>
<p><span>Click to enlarge</span></p>
<p><span><img src="/images/2015/10/19/BA7.jpg" alt=""></span></p>
<p> </p>
<p><span>This should keep the residential construction sector operating at or close to its full capacity for some time to come.</span></p>
<p><span> </span></p>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
<p><span> </span></p>
</div>
</div>
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pwargent-M4siyDbqQY

Strongest homebuilding since 1788: Pete Wargent

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<div>
<span style="line-height: 1.3em;">In the past week the ABS released its </span><span style="line-height: 1.3em;">Construction Activity</span><span style="line-height: 1.3em;"> figures for the June 2015 quarter, which pull together data on building and engineering construction.</span>
</div>
<div> </div>
<div>As you can see below total construction surprised in jumping back up by a seasonally adjusted +1.8% in Q2 to sit above $50 billion in chain volume measures terms.</div>
<div> </div>
<div>The rebound was driven by a surge in engineering construction (see the blue shaded area in the graphic below), which rose by +5.7% in the quarter, although with fewer large projects in the pipeline this sector will soon enough resume its inevitable decline over the next couple of years. </div>
<div> </div>
<div>Given the sheer size of the engineering construction sector at $26.7 billion of work done in the June quarter, the downturn is will continue to act as a material drag on economic growth for quite some time.</div>
<div> </div>
<div>The red shaded area below shows that residential building work declined in the June quarter by -2.9% to $14.7 billion, despite still being up by +7.6% over the year. </div>
<div> </div>
<div>Non-residential building, denoted by the yellow shaded area below, has not really contributed a great deal to growth, having actually declined by -1.2% over the past year. </div>
<div> </div>
<div><a href="/images/2015/10/19/CONS1.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/10/19/CONS1.jpg" alt=""></div>
<div> </div>
<div>
<div><strong><span style="text-decoration: underline;">Apartment approvals to decline</span></strong></div>
<div> </div>
<div>While there is still a high volume of residential building approvals in the pipeline - which is expected to see housing starts remain strong across the next financial year - it appears that the peak in construction activity may be in for the cycle.</div>
<div> </div>
<div>Although defaults relating to apartment pre-sales have been low to date and indicators of household financial stress benign, developers will be increasingly reticent to lend against high density projects in certain inner city areas, particularly in Melbourne and Brisbane.</div>
<div> </div>
<div>If you take a walk around Fortitude Valley/Newstead (see my photos <a href="https://petewargent.blogspot.co.uk/2015/08/cranewatch-newstead" target="_blank">here</a> for an idea of what I'm referring to), or West End/South Brisbane (see my photos <a href="https://petewargent.blogspot.co.uk/2015/02/brisbane-apartments-part-deux" target="_blank">here</a> for more of the same) it is not hard to see why, with building approvals as a percentage of existing dwelling stock already tracking at an elevated level.<br><br>Brisbane CBD faces similar challenges as I looked at with some photos <a href="https://petewargent.blogspot.com.au/2015/01/brisbane-apartments" target="_blank">here</a>, as does Melbourne in certain inner city locations.</div>
<div> </div>
<div>The is a glut of apartment building coming online in these areas which will see vacancy rates rise and rents fall, and it follows there is no requirement for further apartment approvals.</div>
<div> </div>
<div>Indeed, we already know that DA lodgements in Brisbane began to fall quite sharply earlier in the year. </div>
<div> </div>
<div>This is one of the risks identified by the <a href="https://www.rba.gov.au/publications/fsr/2015/oct/html/contents" target="_blank">Reserve Bank</a> of a property cycle which is driven largely by investors - speculative demand can lead to a sharp supply response. </div>
<div> </div>
<div>In this case it comes in the guise of rapid increase in construction activity in the apartment sector, and in turn a future supply overhang.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Implications</span></strong></div>
<div> </div>
<div>While work in the pipeline should keep residential building activity humming along at a historically high level - and a boom in major renovations work could even see total residential activity rise a little from here - there appears to be little hope that the sector can contribute a great deal more to economic growth than it already has.</div>
<div> </div>
<div>Since engineering construction is also set to decline over the next couple of years, it is perhaps little wonder that future markets are beginning to look for further interest rate cuts (plural) towards a cash rate of just 1.50%. </div>
<div> </div>
<div>While forecasters are expecting the economy to grow at a moderate pace in Q3, on the evidence of the above numbers there could potentially be some downside risk, particularly if resources construction resumes its contraction. </div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
</div>
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Residential construction peak: Pete Wargent

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<p><span>It was another busy week for auctions across the combined capital cities with 2,817 auctions held after the previous week saw 3,016 properties taken to auction; the highest volumes have been since March this year. </span></p>
<p><span>The preliminary clearance rate of 69.3% has remained below 70% for the 5th week in a row, down from 69.5% last week. This time last year, the clearance rate was 68.6%, although volumes were lower with only 2,449 auctions held.</span></p>
<p><a href="/images/2015/10/19/20151019-capital-city.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/19/20151019-capital-city.jpg" alt="" width="560" height="423"></span></p>
<p> </p>
<p><span>In </span><strong>Melbourne</strong><span>, Australia’s largest auction market, 73.6% of the 1,193 reported auctions sold this week. There were 1,390 auctions held across the city this week, similar to last week, when there were 1,397 auctions and the final auction clearance rate was 73.4%. In comparison, over the same week last year, there were 1,167 auctions held with a clearance rate of 71.7 per cent. The Inner region of Melbourne had the highest number of auctions this week (287), with a preliminary clearance rate of 73 per cent. Meanwhile, the strongest clearance rate was recorded across the Outer East region, where 82.1 per cent of homes taken to auction sold based on the preliminary results.</span></p>
<p><a href="/images/2015/10/19/20151019-Melbourne.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/19/20151019-Melbourne.jpg" alt="" width="663" height="449"></span></p>
<p> </p>
<p><span>Across </span><strong>Sydney</strong><span>, 1,074 homes were taken to auction this week with a preliminary clearance rate of 66.6 per cent across 830 reported results, the lowest clearance rate for the year and also the third week in a row where Sydney’s clearance rate has been below 70 per cent. The last time the clearance rate was this low was the first week of December 2014 (66.1). Last week, the final clearance rate for the city was 69.6 per cent, across 1,197 auctions. One year ago, 929 Sydney homes were taken to auction and the clearance rate was 72 per cent. This week, the performance across Sydney’s individual sub regions was varied. Across the Outer South West region, where 21 results have been reported so far, the preliminary clearance rate was 47.6 per cent, while across the Inner West (80 per cent) and the Eastern Suburbs (76.8 per cent), the success rate of reported auctions was much higher.</span></p>
<p><a href="/images/2015/10/19/20151019-Sydney.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/10/19/20151019-Sydney.jpg" alt="" width="640" height="434"></p>
<p><strong>Brisbane</strong><span> was host to 146 auctions this week, down from 186 last week, and the preliminary clearance rate was 53.2 per cent, down slightly from 53.8 per cent over the previous week. At the same time last year, 46 per cent of the 159 auctions held were successful. In the </span><strong>Gold Coast</strong><span>, a clearance rate of 56.5 per cent was recorded across 23 results.</span></p>
<p><a href="/images/2015/10/19/20151019-Brisbane.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/19/20151019-Brisbane.jpg" alt="" width="623" height="418"></span></p>
<p> </p>
<p><span>A total of 93 </span><strong>Adelaide</strong><span> homes were auctioned this week and the preliminary auction clearance rate of 72.1 per cent is higher than the 64 per cent from the previous week across 127 auctions. One year ago, Adelaide’s clearance rate was a lower 53.3 per cent across 103 auctions.</span></p>
<p><a href="/images/2015/10/19/20151019-Adelaide.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/19/20151019-Adelaide.jpg" alt="" width="659" height="446"></span></p>
<p> </p>
<p>In <strong>Perth</strong>, just 16 auctions were held this week. Of the 8 results reported toCoreLogic RP Data so far, only 2 have been successful. Last week, the final auction clearance rate for Perth was 37.9 per cent across 34 auctions.</p>
<p>Across <strong>Canberra</strong> a total of 82 auctions were held this week, up from 68 last week and 55 at the same time last year. Canberra’s preliminary clearance rate of 67.3 per cent is stronger than it was the previous week (62.1 per cent).</p>
<p>Of the 12 <strong>Tasmanian</strong> auction results reported so far this week, 7 sales have been recorded.</p>
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Clearance rate below 70% for the fifth week running: CoreLogic RP Data's Shana Miller

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<p>The moderation in the rate of growth across our combined capital cities index in September is likely to be a positive development for Australian regulators such as the Reserve Bank and APRA who have been highlighting concerns about the strong rate of value growth in Sydney and Melbourne.</p>
<p>Of course it is only one month and it will be interesting to see whether the slowing trend will persist, particularly as we head into the busy spring selling season. </p>
<p><a href="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%208.51.33%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%208.51.33%20PM.png" alt="" width="436" height="370" style="line-height: 1.3em;"></p>
<p>The annual expansion in investor-related housing credit has continued at a pace that is higher than APRA’s mandated 10% growth per annum however, July figures from the Reserve Bank show credit for investment housing has increased by 10.8% over the year, down from growth of 11.1% the previous month.</p>
<p>Furthermore, in June investor housing credit rose by 0.6% which was its slowest monthly increase since October 2013. With many banks now placing a premium on investment mortgage interest rates and also increasing serviceability limits on all mortgages we may be starting to see the first evidence of a cooling in investment housing demand.</p>
<p><a href="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%208.58.44%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%208.58.44%20PM.png" alt="" width="414" height="161"></p>
<p>The cumulative effect of tighter lending conditions, more expensive mortgage rates for investors and lower yields, as well as natural affordability constraints and higher levels of new housing supply, is likely to dampen some of the exuberance we have seen across the Sydney and Melbourne housing market. Listing numbers are already showing their seasonal spring climb which will provide a timely test of the housing markets strength through spring.</p>
<p><a href="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%209.13.16%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%209.13.16%20PM.png" alt="" width="555" height="528"></p>
<p>Furthermore auction clearance rates have been trending lower in both Sydney and Melbourne over the past couple of months potentially highlighting a moderation in the rate of home value growth in these cities.</p>
<p><a href="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%209.00.28%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%209.00.28%20PM.png" alt="" width="620" height="436"></p>
<p><em>Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/author/cameron-kusher/" target="_blank">here</a>.</em></p>
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Potential cooling in investment housing demand: Cameron Kusher 

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<p><span style="line-height: 1.3em;">At Property Bloom we are always trying to improve our process.  We put a lot of time and effort into designing our villas, houses or units whether they be for a dual occupancy or multi unit project, we want our finished product to look better than the standard 'investor stock'.</span></p>
<p>Of course, we need to do this in a cost effective way and so I've found that spending time on key areas like front façades, kitchens and bathrooms can add a wow factor without breaking the budget.</p>
<p>I read this great story about <a href="https://www.houzz.com.au/ideabooks/53600916/list/12-hot-kitchen-trends-set-to-sizzle-in-2016" target="_blank">12 hot kitchen trends</a> and was pleased to see we were meeting seven of the twelve trends in the kitchens we are building right now.</p>
<p>Here's a photo of a kitchen in one of our recently completed developments:</p>
<p><img src="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%209.45.50%20AM.png" alt="" width="508" height="325"></p>
<p> </p>
<p>Timber features for kitchens continues to trend. We've used it in our kitchen to add warmth and it was nice to see the report notes that walnut tones  will be trending next year. The timber cupboards we've used are Polytec European Walnut. </p>
<p>You can also add texture by using a textured product to your cupboards. We did this by using a textured melamine to the timber areas. Which brings me to the next trend - texture.</p>
<p> Most kitchen manufacturers offer a good choice of textured laminate benches or melamine cupboards and they are usually the same price as flat surfaces.  You can add texture to your splashback tile. We have used a softly lined splashback tile, although it's hard to see in the photo.</p>
<p>We purposely kept the main cabinetry neutral which ticks another trend box. We only wanted two main features for the kitchen which is the use of timber and stone for the benches.</p>
<p>Thin benches are in and it's goodbye to chunky style benches.  This is a relief as we used a thin, engineered stone bench with mitred edges. This was a choice more around cost than trend as the thicker bench tops were more expensive. <br><br></p>
<p><img src="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%209.46.48%20AM.png" alt="" width="553" height="340"></p>
<p>Engineered stone benches have become so well manufactured that it can be hard to tell the difference from natural materials.In an investment property it doesn't make sense to use real marble or granite so we are meeting the trend to use engineered materials. I love the wider choice of colours and tones you can get from the various supplies of engineered stone benches. It's important your bench works in well with your flooring, especially if you are using a mitred or waterfall edge where the bench will meet the floor.</p>
<p>Speaking of flooring, we've used a stone look floor tile with a polished finish. I like the floor to reflect light which can give the impression of a large, clean space. But perhaps this is not right on trend as I think more natural and matt finishes are in right now.</p>
<p>For our pendant lights, we've used a small white pendant with a silver foil lining inside it. This adds a little touch of glam. So we are only just half ticking the trend of using precious metals. If you really want to be on trend you should incorporate some brass, cooper or gold which may be used in the lighting, tapware, rangehood or splashback.But we didn't want to compete with the natural timber tones that were already a feature. Be careful not to have too many features as they can compete with each other giving you a cluttered or busy look.</p>
<p><img src="/images/2015/10/16/Screen%20Shot%202015-10-16%20at%209.47.32%20AM.png" alt="" width="436" height="277"></p>
<p>I find designing the kitchens and choosing the colours one of the most enjoyable parts of property development and valuers have told me that a well designed, spacious kitchen with quality features will add value to your property. If you'd like to know just how much this kitchen cost us, then send me an email and I'll be happy to share.      </p>
<p><em>Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.</em></p>
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Is your property development ticking kitchen trends?: Jo Chivers

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<p>Across the combined capital cities, 2,904 auctions are scheduled this week after 3,016 residential homes were taken to auction the previous week.</p>
<p>The clearance rate last week improved slightly, up from 68.2% to 69.5%, demonstrating that clearance rates are similar to the levels seen at the same time on year ago (67.8%).</p>
<p>This week, it is expected that <strong>Melbourne</strong> auction volumes will rise, while <strong>Sydney</strong> will be host to less auctions than last week. In Melbourne, 1,481 residential auctions will be held, compared to 1,397 last week and a significantly lower 1,167 one year ago. Meanwhile, there are 1,063 homes being taken to auction in Sydney this week, compared to 1,197 last week and 929 one year ago.</p>
<p>Adelaide, Brisbane and Perth will all see a lower number of auctions this week compared to last week and similarly, lower than they were one year ago:</p>
<p><strong>Adelaide</strong>:         88 this week                127 last week              103 last year<br><strong>Brisbane</strong>:       149 this week                186 last week              159 last year<br><strong>Perth</strong>:              16 this week                  34 last week               23 last year</p>
<p>On the other hand, <strong>Canberra</strong> is expecting 92 auctions this week which is higher than both last week (68) and last year (55).</p>
<p>This week, the top 10 busiest suburbs for auctions are all located in Victoria. Brighton and Reservoir are set to be the busiest, where 21 auctions will be held and Cheltenham, will host 19 auctions this week.</p>
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