<p>Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.</p>

<p>A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.</p>

<p>Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.</p>

<p>“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.</p>

<p>Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.</p>

<p>“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.</p>

<p>The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.</p>

<p>It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.</p>

<p>The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.</p>

<p>One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.</p>

<p>Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.</p>

<p>The developer is also exploring the potential for additional affordable housing outcomes.</p>

<p>Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.</p>

<p>Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.</p>

<p>Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.</p>

<p>“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”</p>

<p>Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.</p>

<p>Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.</p>

<p>Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.</p>


Joel Robinson

400 new homes planned for Adelaide's former West End Brewery site

<p>Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.</p>

<p>The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.</p>

<p>Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" /></p>

<p>“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.</p>

<p>The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”</p>

<p>The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" /></p>

<p>The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.</p>

<p>According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.</p>

<p>“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.</p>

<p>A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.</p>

<p>Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" /></p>

<p>All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.</p>

<p>The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.</p>


Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

<p>Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.</p>

<p>The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.</p>

<p>Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.</p>

<p><img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" /></p>

<p>Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.</p>

<p>The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.</p>

<p>"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.</p>

<p>The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.</p>

<p>The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.</p>

<p><img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" /></p>

<p>Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.</p>

<p>Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.</p>


First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

<p>The Gold Coast Planning Committee has supported the preliminary approval for the Benowa Gardens Urban Village project following an extensive community consultation and assessment process.</p>

<p>The proposal will now proceed to a full council vote on June 2.</p>

<p>The application sought approval for a masterplanned urban village on the existing Benowa Gardens Shopping Centre site, combining new housing, retail, dining, health and lifestyle amenities within a walkable, integrated precinct.&nbsp;</p>

<p>The proposed redevelopment includes around 413 apartments integrated above a revitalised mixed-use centre featuring a full-line supermarket of 4,000 sqm, 6,000 sqm of specialty retail and dining space across around 30 retailers, a 7,000 sqm health and wellness precinct, and roughly 9,630 sqm of office and medical suites.&nbsp;</p>

<p><img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="fb36ae47-80bc-45f0-9914-31b0c7b6007d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C4%201121%20FI.jpg?VersionId=6mRKk2uU4r67TmTt39DKGUlvFRbTVqWa" /></p>

<p>The broader masterplan also includes very significant traffic and transport improvements, wide pedestrian walkways, upgraded pedestrian and cycle connections, and enhanced public areas designed to create a more connected and walkable community environment.&nbsp;</p>

<p>Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.</p>

<p>“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.</p>

<p>“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.</p>

<p><img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="32fd1fc3-d0e6-485f-ac57-9916c9bcb818" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/PR26576%20Ashmore%20Road%20C5%201121%20FI_2.jpg?VersionId=fz8qQKDBLQ7MyFRc856Zccfbh9nFwLOe" /></p>

<p>“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible.</p>

<p>“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.</p>

<p>“This proposal is about creating a genuine live-work-play environment where residents can access everyday services, schools, healthcare, dining, shopping and green space within walking distance, while also supporting local jobs and economic activity.”</p>

<p><img alt="$1b Benowa Gardens Urban Village moves to Full Council following Planning Committee support" data-entity-type="file" data-entity-uuid="50dfbd04-590e-4fc6-983b-766880947867" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Dining%20Day%20Time%20-%20High%20Resolution.jpg?VersionId=BP7ZoKJ0DdL_8iRkkC8VVx99moICV6kg" /></p>

<p>Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;</p>

<p>Melissa Griffin, Director at Urbis, said the recommendation recognised the strategic importance of delivering more housing and services within established urban areas already supported by infrastructure.</p>

<p>“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.</p>

<p>“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.</p>

<p>“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”</p>


$1 billion Benowa Gardens Urban Village heads to council vote following Planning Committee support

<p>Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.</p>

<p>John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">63–79 Garfield Terrace</a>, just five months after its <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-billionaire-winx-breeder-s-bold-two-tower-surfers-paradise-play-with-45th-storey-skybridge">submission in late 2025</a>.</p>

<p>The approved scheme will deliver two towers rising 55 and 48 storeys, connected by a skybridge positioned on level 45 that will house a range of resident-only wellness and entertainment spaces.</p>

<p>In its notice of approval, the Gold Coast City Council said the&nbsp;proposed overall built form has been designed to complement the scale, intensity and protect the adjacent amenity and surrounding streets through the use of varied setbacks, site cover and architectural elements.</p>

<p><img alt="First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-30%20at%209.53.48%E2%80%AFAM.png?VersionId=ADyPJ_TFbJvSU9wZFOiCBnlPtgF7VWqW" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/dbi">DBI</a>, the development will comprise 275 apartments across the two towers, including a mix of two-, three-, and four-bedroom residences, as well as several penthouses. The apartments will sit above a landscaped podium featuring more than 90 metres of beachfront pool frontage, private resident lawns, lounges, and wellness spaces.</p>

<p>DBI said the design draws heavily from the movement and form of the coastal environment, with curving balcony lines and sculpted façades intended to soften the scale of the towers while maximising ocean outlooks and passive shading outcomes.</p>

<p>“The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience,” DBI said in planning documents submitted to the Gold Coast City Council.</p>

<p>The most distinctive element of the approved project is the skybridge linking the two towers at level 45. The elevated communal space is planned to include executive lounges, formal dining areas, wellness facilities, and panoramic ocean-facing outlooks.</p>

<p>“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI said.</p>

<p>At podium level, residents will have access to a suite of resort-style amenities, including resident lounges, private dining rooms, a yoga lawn, gymnasium, plunge pools, and treatment spaces. The beachfront pool has been designed with separate lap, lounge, and children’s areas extending across the width of the site.</p>

<p>The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.</p>


First look: Winx billionaire’s beachfront Surfers Paradise apartment development greenlit

<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><span style="line-height: 1.3em;">The longtime Graham Geddes Antiques store site on </span><span style="line-height: 1.3em;">High Street, Armadale could become a seven-level </span>shop top<span style="line-height: 1.3em;"> residential tower.</span></p>
<p><span style="line-height: 1.3em;">Savills sold the sites near Armadale railway station, known as<a href="https://www.realcommercial.com.au/property-land+development-vic-armadale-501134371" target="_blank"> 875-881 High Street and 19-21 Osment Street</a>, in June for</span><span style="line-height: 1.3em;"> $7.5 million.</span></p>
<p><span style="line-height: 1.3em;">The application seeks a seven-level tower with 67 flats configured with between one and five bedrooms. </span></p>
<p><span style="line-height: 1.3em;">The complex will include 187 square metres of retail space. </span></p>
<p><span style="line-height: 1.3em;">There was heritage consideration briefly given in 2009 to 19 Osment, </span><span style="line-height: 1.3em;">a modest timber villa of the late nineteenth century, but with its size suggests standards of amenity above the typical worker’s ‘Struggletown’, Stonnington Council records reveal it was not pursued.</span></p>
<p><span style="line-height: 1.3em;">Armadale's tallest proposed apartment block is the proposed 12 levels at the nearby former State Rivers &amp; Water Supply Commission office holding at 590 Orrong Road and 4 Osment Street.</span></p>
<p>The man regarded as <a href="https://www.grahamgeddesantiques.com" target="_blank">Melbourne's antique king</a> previously owned the property.</p>
<p>He had also traded elsewhere in Armadale's High Street which was where he <span>consulted to Robert Holmes a Court, Alan Bond and Christopher Skase during the high-flying 1980s</span>. Now in his 80s, <span>Now aged 72, graham Geddes</span><span> started his business life in the 1960s as a second hand dealer.</span></p>
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jchancellor-FAypfDUnLy

Residential approval sought for Graham Geddes High Street, Armadale site

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<p>Australia requires 186,000 dwellings per year to keep up with demand, according to the Housing Industry Association’s (HIA) <em>Housing Australia Future</em> report.</p>
<p>HIA economist Geordan Murray said that one of the greatest policy challenges in coming decades is ensuring a sufficient supply of new dwellings to house a growing and ageing population.</p>
<p>"Within a plethora of potential scenarios, the most likely outcome is an annual new home building requirement between now and 2050 that is considerably higher than was has been achieved over the last 20 years,” said Murray.</p>
<p>“In a scenario where Australia's population and its real incomes grow at a medium rate – a scenario we believe most plausible – the nation will need to build an average of around 186,000 dwellings per annum.”</p>
<p>This includes 152,000 homes to provide housing to new households, and 30,000 to 35,000 dwellings to assist offset demolished homes and satisfy demand for additional housing as a result of rising incomes.</p>
<p>“In 2013/14, the number of new homes built was about the same as the number of new homes demanded by the population during the year,” he said.</p>
<p>“Unfortunately a match of this kind is an aberration - throughout much of the last decade there was a considerable mismatch between the level of demand for housing and the amount of new home building.”</p>
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jduke-EHk3XBmHkn

We need 186,000 dwellings per year to keep up: HIA

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<p>A large proportion of housing demand is currently being driven by investment.</p>
<p>Unfortunately in Australia we only receive information on owner occupier and investment ownership of properties every five years with the census.</p>
<p>Because of this, RP Data's Analytics team have built a set of rules to determine the probability that a home is owned by either an investor, owner occupier or the Government.</p>
<p>The Reserve Bank has specifically noted that they have concerns with the high level of speculative investor activity, specifically in Sydney and Melbourne. The following thematic maps show the capital cities and measure the proportion of homes owned by investors across each region.</p>
<p>The geographic trends in investor activity are very clear from these maps; investors are heavily concentrated within the inner city apartment markets.</p>
<p>The below maps clearly highlight that investors overwhelmingly focus their attention on inner city unit markets.</p>
<p>When the Reserve Bank raised concerns that there is too much investor activity taking place, it is also clear that the concentration risk is very much centred geographically within these inner city unit markets.</p>
<p>If we did see investors pulling out the market 'en masse' or investor demand dry up for one reason or another over a short frame of time, then there is a heightened risk of declines in market value.</p>
<p><strong>Investor concentration in Adelaide's markets:</strong></p>
<p><img src="/images/2014/10/15/Adelaide-houses.jpg" alt=""></p>
<p> </p>
<p><img src="/images/2014/10/15/Adelaide-units.jpg" alt=""></p>
<p> </p>
<p> <strong>Investor concentration in Brisbane's markets:</strong></p>
<p><img src="/images/2014/10/15/Brisbane-houses-470x580.jpg" alt=""></p>
<p> </p>
<p><img src="/images/2014/10/15/Brisbane-units-423x580.jpg" alt=""></p>
<p><em>To see the concentration of investors in Canberra, Darwin, Hobart, Perth, Sydney and Melbourne markets, click below. <br></em></p>
<hr class="system-pagebreak">
<p>  <strong><strong>Investor concentration in Canberra's markets:</strong></strong></p>
<p><em><img src="/images/2014/10/15/Canberra-houses.jpg" alt=""></em></p>
<p><img src="/images/2014/10/15/Canberra-units.jpg" alt=""></p>
<p> </p>
<p><strong><strong>Investor concentration in Darwin's markets:</strong></strong></p>
<p><img src="/images/2014/10/15/Darwin-houses.jpg" alt=""></p>
<p><img src="/images/2014/10/15/Darwin-units.jpg" alt=""></p>
<p><em>To see investor concentration in Hobart, Perth, Sydney and Melbourne markets, click below.</em></p>
<hr class="system-pagebreak">
<p> <strong>Investor concentration in Hobart's markets:</strong></p>
<p><em><img src="/images/2014/10/15/Hobart-houses.jpg" alt=""></em></p>
<p><img src="/images/2014/10/15/Hobart-units.jpg" alt=""></p>
<p> <strong>Investor concentration in Melbourne's markets:</strong></p>
<p><img src="/images/2014/10/15/Melbourne-houses.jpg" alt=""></p>
<p><img src="/images/2014/10/15/Melbourne-units2-580x548.jpg" alt=""></p>
<p><em> To see investor concentration in Sydney and Perth markets, click below.</em></p>
<hr class="system-pagebreak">
<p><strong><strong>Investor concentration in Perth's markets:</strong></strong><em><br></em></p>
<p> </p>
<p><em><img src="/images/2014/10/15/Perth-houses-394x580.jpg" alt=""></em></p>
<p> </p>
<p><img src="/images/2014/10/15/Perth-units-403x580.jpg" alt=""></p>
<p> <strong>Investor concentration in Sydney's markets:</strong></p>
<p><img src="/images/2014/10/15/Sydney-houses.jpg" alt=""></p>
<p><img src="/images/2014/10/15/Sydney-units.jpg" alt=""></p>
<p> </p>
</body></html>

tlawless-5VLUrbAk9s

Heavy investor concentration exposes inner city unit markets to risk

<html><body>
<p>The Australian Bureau of Statistics (ABS) released its Lending Finance data this week, and it was a pretty weak reading after a couple of apparently very strong months for commercial lending.</p>
<p>Total new lending fell by 10.3% in August from the previous month with a sharp 16% drop in commercial lending the driver of the result.</p>
<p>Owner occupier housing loans fell by 2% in the month of August on a seasonally adjusted basis, with most states seeing activity fall in the month (although notably not Queensland).</p>
<p>Note that the ABS classifies property investor loans separately from owner occupier loans and thus these come under the commercial lending header in the chart below.</p>
<p><img src="/images/2014/10/15/1.jpg" alt=""></p>
<p>Year on year total new lending remains 11% higher, which is promising, and the rolling 12 monthly figures about do show that the overall trend has been a good 'un.</p>
<p>However, there is no getting away from the fact that August was a fairly rubbish result for commercial and business lending and quickly quells the enthusiasm of the markets from last month which saw some excitable claims that interest rates will be heading up imminently.</p>
<p>In short: No, they won't be.</p>
<p><strong>Property investor loans</strong></p>
<p>As for those property investor loans, in aggregate, property investor loans were pretty much flat in August on a seasonally adjusted basis.</p>
<p>On a trend basis, investor loans were down in all states, as one might expect. On a rolling 12 monthly basis, however, property investor loans across all of the main states continued to rise, with New South Wales and Victoria marching on to new heights.</p>
<p>New South Wales (read: Sydney) loans are a whopping 42.5% higher year-on-year on a rolling annual basis.</p>
<p><img src="/images/2014/10/15/2.jpg" alt=""></p>
<p>Just looking at the straight raw monthly property investor loan data, New South Wales and Victoria are the clear standouts with 30% and 28% increases respectively.</p>
<p>Elsewhere activity has been softer, although evidently property investors are becoming more active in Queensland. Property investor activity has been solid in Western Australia and flat in South Australia.</p>
<p><img src="/images/2014/10/15/3.jpg" alt=""></p>
<p><strong>Macro-pru</strong></p>
<p>Overall, it's not yet quite clear what this means for so-termed macro-prudential regulation to cool the investor market.</p>
<p>Clearly with property investor loans up very strongly over the past year, macro-prudential measures from the regulator (APRA) are very much in play in order to keep the proportion of lending to investors under some kind of check.</p>
<p>The August data taken by itself was far from alarming so there may be no knee-jerk announcements or reactions while the Reserve Bank and APRA await another month or two of data.</p>
<p>It's impossible to second guess these volatile data sets or indeed the actions of the regulator, although one generally gets the sense that dramatic macro-prudential measures are not really a preferred option.</p>
<p>Wayne Byres of APRA made the point the other day that although "people love the term" there is "nothing really new" about macro-prudential measures, which sort of implied moderation (to me at least).</p>
<p>I do just note in passing that AFG's more timely data for September showed record transactional activity for New South Wales as well as 49.7% investor loans.</p>
<p><img src="/images/2014/10/15/4.jpg" alt=""></p>
<p>The Sydney property market marches on to new heights, and unlike in the previous boom cycle of a decade ago higher interest rates are not anywhere to be seen on the horizon in order to slow the market down (and vacancy rates remain much lower today too) - this cyclical boom will have to die of all age and of its own accord or be slowed by regulation.</p>
<p> </p>
<p> </p>
</body></html>

pwargent-M4siyDbqQY

Sydney's property market reaches new heights

<html><body>
<p>Glenn Stevens' statement on interest rates was bland but holds important reminders for property investors.</p>
<p>It's probably a sign of how stable our economy is that we wait for the slightest change in wording when the Reserve Bank (RBA) decides on the cash rate.</p>
<p>Last Tuesday the RBA board met and decided to keep the official interest rate at 2.5% – not only a historically low rate compared with the 5.2% average since 1990, but also a rate that's been kept the same since August 2013.</p>
<p>But it was the way RBA governor Glenn Stevens expressed himself on property prices and the Australian dollar that is worth looking at during the remainder of the year and into 2015.</p>
<p>For more than a month we've heard strong commentary from economists about unhealthy price inflation in the property market, driven by low interest rates. Some of that comment has predicted an end to negative gearing. I haven't joined this discussion because lenders' figures don't suggest a problem in the property market, and the Bureau of Statistics' House Price Index series shows we are just slightly above the index average since 2002.</p>
<p>However, the RBA governor in his statement did mention investment property: "Credit growth is moderate overall, but with a further pick-up in recent months in lending to investors in housing assets."</p>
<p>I think Stevens was right to address the property market with a bland statement like this. If nothing else, it's a reminder to property investors that they must do their homework and invest wisely regardless of what official interest rates are doing.</p>
<p>With an investment property, you are interested in a good location and access to infrastructure such as schools, shops, railway stations and playing parks. And you are also interested in average rentals and some historical data on rental yields.</p>
<p>But the first step in a good investment is buying well. This means not just paying a good price for the year, but a good price for the 10 to 20 years you want to generate income from this property. If you pay too much you'll lose on capital appreciation and it will take longer to generate clear funds from the rent.</p>
<p>It's one thing to get carried away at an auction and pay too much for the house you love, but an investment property is a business that must earn income and capital growth for many years.</p>
<p>So keep a cool head.</p>
<p>The other element mentioned by the RBA – that they expect the Aussie dollar to fall further against the US – is something that might give a boost to our economy. When our dollar was at parity with the US, Aussie exports were expensive and local manufacturers found it hard to compete in foreign markets.</p>
<p>Now that our dollar is at 85 US cents – and expected to fall further – our non-mining economy has a chance to pick up, expand operations and create jobs.</p>
<p>So don't be alarmed at the lack of big headlines from the Reserve Bank this month. A steady economy is a great thing when you consider the alternative.</p>
</body></html>

mbouris-tauSvXGAM2

Do your homework, whatever the interest rate

<html><body>
<p>Investors are making it increasingly difficult for other buyers to enter the market, according to Bob Guth’s weekly <em>Realestatement</em>.</p>
<p>This is particularly challenging among the apartment market in Sydney, Melbourne and Brisbane.</p>
<p>He notes that more than a third of all occupied housing in Australia are rentals, with almost half of all new housing loans in 2014 defined as investment loans.</p>
<p>“It’s unsurprising that competition from investors has resulted in many would-be homebuyers forgoing the idea of owner-occupation. Instead, they are joining the investor ranks to gain a foothold in the marketplace,” says the director and chief auctioneer of Sydney agency BradfieldCleary.</p>
<p>Recent first-home owner figures show that home loan applications are at record lows while many first-time buyers decide to gain a foothold by turning to investment.</p>
<p>The Australian Bureau of Statistics records that 64% of the population in NSW is in Sydney and that is projected to grow to 74% by 2061.</p>
<p>This will drive housing demand, further push up prices and have a spill on effective on values of established property similar to Europe and Asia.</p>
<p>Bob Guth points out that declining interest rates has helped owner-occupiers and investors to buy residential property and this has underpinned housing performance for the last two years.</p>
<p>“The major banks cut fixed-term interest rates in July 2014 and this is fuelling greater interest in this class of asset,” he says.</p>
<p>Records are not likely to be set this spring. Bob Guth believes the market will experience more property volume from now.</p>
<p> </p>
</body></html>

andreadixon-oif3j7eKne

Investors creating challenging market for other buyers: Bob Guth

<html><body>
<div class="page" title="Page 4">
<div class="layoutArea">
<div class="column">
<p><span style="line-height: 1.3em;">Savills, in the 12 months to September 2014, identified 29,989 square metres of leases in the Parramatta market. </span></p>
<p><span style="line-height: 1.3em;">This was up 55% on the 12 months prior, and up on the five year average (22,860 square metres).</span></p>
<p><span><strong>Parramatta office leases to September 2014</strong> </span></p>
</div>
</div>
<br><table>
<colgroup>
<col>
<col>
<col>
<col>
<col>
</colgroup>
<tbody>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Date </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Property </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>NLA (sq m) </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Rent ($/sq m) </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Tenant </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Feb-14 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>25 George St, Parramatta </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>1,300 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>400 G </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Careers Australia </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Feb-14 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>91 Phillip St, Parramatta </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>426 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>350 N </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Knight Frank </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>May-14 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>426 Church St, Parramatta </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>815 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>305 N </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Community Connections </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>May-14 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>110 George St, Parramatta </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>528 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>335 N </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Government Property NSW </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Aug-14 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>169 Macquarie St, Parramatta </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>26,000 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>na </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>University of Western Sydney </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Sep-14 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>91 Phillip St, Parramatta </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>940 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>na </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>KPMG </span></p>
</div>
</div>
</td>
</tr>
</tbody>
</table>
<div class="layoutArea">
<div class="column">
<p><span style="line-height: 1.3em;">Net absorption of 1,737 square metres was recorded in the Parramatta market in the 12 months to June 2014.</span></p>
<p><span>With only 675 square metres of A Grade available space according to the latest Property Council of Australia (PCA) <em>Office Market Report</em>, Savills says any future demand for prime buildings will likely be soaked up by well positioned secondary grade assets in the short-term, as there are no new major developments under construction. </span></p>
<p><span>This is forecast to continue placing downward pressure on the overall vacancy rate in the Parramatta office market and further reinforcing the need for development of new space in the market. </span></p>
<p><span>Net face rents in Parramatta as at September 2014 typically range between $350 and $450 per square metre per annum for A Grade buildings, and between $265 and $340 per square metre per annum for secondary grade buildings. </span></p>
<p><span>The average A Grade face rent in Parramatta is $400 per square metre per annum, a 7% increase over the last 12 months.</span></p>
</div>
</div>
</div>
<div class="page" title="Page 5">
<div class="layoutArea">
<div class="column">
<p><span>As a result of the University of Western Sydney committing to 1PSQ, Government and Community was the dominant sector <span><span> in the Parramatta office market in the last 12 months</span></span>, accounting for 95% of the stock, or 28,623 square metres o<span>f the 29,989 square metres leased</span>. Similarly, the largest number of transactions was through the Government and Community sector (four transactions).</span></p>
<p><span>The latest PCA <em>Office Market Report</em> shows that the overall vacancy rate in Parramatta decreased by 0.8 percentage points over the 12 months to June 2014 and currently sits at 6.7%. Parramatta vacancy has experienced a downward trend since July 2010, where vacancy was as high as 10.8%. </span></p>
<p><span>Over the last 12 months, A Grade vacancy in Parramatta fell by 2.2 percentage points to an all time low of just 0.2% (675 square metres). This reflects a decline of approximately 5,539 square metres of available space over the period. However, the PCA recorded an increase of 18,600 square metres in total A Grade stock due to a regrade of buildings over the same period. B Grade vacancy in Parramatta recorded an increase from 5.3 % to 9.5% over the last 12 months. </span></p>
<p><span>With no new office supply expected in Parramatta until 2016, coupled with limited A Grade offerings in the market, strong demand in the precommitment market is expected, as well as a tangible benefit to the secondary market in the short-term. </span></p>
</div>
</div>
<br><table>
<colgroup>
<col>
<col>
<col>
<col>
<col>
</colgroup>
<tbody>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Grade </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Stock (sq m) </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Vacancy (sq m) </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Vac % Jun-14 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Vac % Jun-13 </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>A Grade </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>273,617 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>675 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>0.2 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>2.4 </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>B Grade </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>212,026 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>20,182 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>9.5 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>5.3 </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>C Grade </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>104,972 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>19,234 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>18.3 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>17.2 </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>D Grade </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>97,413 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>6,096 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>6.3 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>9.0 </span></p>
</div>
</div>
</td>
</tr>
<tr>
<td>
<div class="layoutArea">
<div class="column">
<p><span>Total </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>688,028 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>46,187 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>6.7 </span></p>
</div>
</div>
</td>
<td>
<div class="layoutArea">
<div class="column">
<p><span>7.5 </span></p>
</div>
</div>
</td>
</tr>
</tbody>
</table>
<br><div class="layoutArea">
<div class="column">
<p><span> </span></p>
</div>
</div>
</div>
</body></html>

Parramatta has downward pressure on office vacancy rate: Savills

<html><body>
<p>Canberra currently has 20 suburbs where the median apartment price is recorded at under $400,000, according to RP Data.</p>
<p>A further 21 have median prices in the $400,000 to $500,000 bracket. The most expensive suburb in terms of apartment median prices was <a href="/news">Yarralumla</a>, with an $808,000 price tag.</p>
<p>Gross rental yields for apartments sit firmly in the 4% to 6%, with no notable exceptions.</p>
<p><a href="/news">Macquarie</a>, which made the list below, recorded the highest rental yield, at 5.8%, with the lowest recorded rental yield being <a href="/news">Deakin</a>'s 4.6%.</p>
<p><a href="/news"><strong>Curtin</strong></a></p>
<p>Median price: $280,000</p>
<p><a href="/news"><strong>Franklin</strong></a></p>
<p>Median price: $290,000</p>
<p><a href="/news"><strong>Hawker</strong></a></p>
<p>Median price: $310,000</p>
<p><a href="/news"><strong>Holt</strong></a></p>
<p>Median price: $325,000</p>
<p><a href="/news"><strong>Scullin</strong></a></p>
<p>Median price: $339,000</p>
<p><a href="/news"><strong>Ngunnawal</strong></a></p>
<p>Median price: $350,000</p>
<p><a href="/news"><strong>Theodore</strong></a></p>
<p>Median price: $356,000</p>
<p><a href="/news"><strong>Macquarie</strong></a></p>
<p>Median price: $358,000</p>
<p><a href="/news"><strong>Watson</strong></a></p>
<p>Median price: $358,000</p>
<p><a href="/news"><strong>Macgregor</strong></a></p>
<p>Median price: $362,000</p>
<p>Narrowly missing the top 10 list included <a href="/news">Gordon</a>, with a $365,000 median price, <a href="/news">Gungahlin</a> and Isabella Plains, both with <a href="/news">$370,000</a> median unit prices.</p>
</body></html>

The 10 cheapest unit suburbs in ACT

<html><body>
<p>I've always liked the saying "can't see the forest for the trees".</p>
<p>It appropriately sums up so much of the distorted self-indoctrinated bias of opinion pertaining to real estate in Australia.</p>
<p>The debate has never been so fierce – especially when it comes to the definition of that 'bubble'. I am of the firm belief that it is those who are actual historians of the Australian property markets who are the ones with the greatest ability to call the exact path and outcomes.</p>
<p>If you want to end the 'bubble' debate simply ask the question: "So when do you see this bubble bursting?"</p>
<p>It's always the fastest way to draw the debate to a fast halt. History has shown when you closely analyse the property market machinations through the Reserve Bank of Australia (RBA) – Cash Rate Target interest rate changes only then can we see the significant market changes.</p>
<p>That being when the RBA increases the cash rate twice (not once) we are starting to see a new course being charted. Then it takes another two to four years for the affects to be seen given that is when households start to come out of their fixed mortgage periods into the higher mortgage agreements.</p>
<p>Given we are the best part of at least 12 months away from the first cash rate increase – which should send the alarm bells ringing – then depending on the next increase we won't start seeing any noticeable market price corrections until 2016 to 2019.</p>
<p>We also need to bear in mind that when the cash rate increases so does the exchange rate as that goes up in unison, which is the last thing the RBA wants to see given it's presently trying to get the exchange rate down.</p>
<p>We should consider that the RBA is well down the track to introducing its new macroprudential tools as well as waiting to receive (then implement) the findings from the Murray Financial System Inquiry.</p>
<p>No doubt the RBA would be very much looking forward to tinkering the markets with these tools so that (for the very first time) other than increasing the cash rate  it may just be able to manipulate the markets in a way never seen before. For the first time ever (as many would not be aware) we are witnessing history with these new real estate market initiatives.</p>
<p>Again, history will show whether or not they were effective. However, it will be fascinating to watch the outcomes.</p>
<p>So back to those fools on the hill who following this week's RBA decision to leave the cash rate on hold at 2.50% – they even managed to get that wrong. No it was not a record (as some declared). Even though 14 straight months is getting up there, the actual record is 17, not 16 as some would believe. Furthermore, you can only apply consecutive meetings as the RBA doesn't meet in January.</p>
<p>Having said that, when you go back through the history of the cash rate movements at the RBA we start to see fascinating stories evolve.</p>
<p>I have conducted my research on instances where the cash rate remained on hold for 10 or more consecutive meetings:</p>
<p>The first period of RBA cash rate holds started on 30 July 1993 when the cash rate was moved from 5.25% to 4.75%, where it remained until 27 July 1994 – in total 12 holds. Then on 17 August it was bumped up 1.25% to 5.50%.</p>
<p>The next run of holds, which is the equal record 17 holds, happened on 14 December 1994 when the cash rate increased from 6.50% to 7.50%, where it remained until 3 July 1996.</p>
<p>Then it fell to 7.00%. So we are seeing long holds followed by increases and decreases.</p>
<p>On 30 July 1997 we saw another 16 consecutive holds at 5.00%, to then see it drop to 4.75%.</p>
<p>On 5 June 2002 we saw 16 holds at 4.75%, to then see it increased to 5.25% in November 2003.</p>
<p>On 4 February 2004 we saw thirteen holds at 5.25%. When the cash rate was increased to 5.50% in March 2005, that was followed by another twelve holds that was followed by an increase to 5.75%.</p>
<p>Then on 8 December 2011 we had another ten holds at 4.75%, then saw the rate dropped to 4.25%.</p>
<p>We are now in the current hold pattern after fourteen meetings, so based on history it's anyone's guess what or when the next movement might be. I predict the current rate will be set for the longest period in RBA history as it will go well into the twenty something meetings.</p>
<p>So when you see the arguments mounting that many commentators were disappointed that the RBA hardly mentioned that ''bubble" following this week's decision – history clearly shows that the board members may not be that concerned about that "bubble".</p>
<p>Maybe they are more concerned as to why investors have steered clear of the stock market which, by the way, had a few massive corrections this week – although, wait a minute, nothing much was written about that either.</p>
<p>It all depends on what you are looking at – the forest or the trees?</p>
<p>As to be expected stock levels increased significantly this week – so now we finally get to see firsthand just how strong the markets really are.</p>
<p>Watching these numbers will be telling over the period leading up to Christmas, although I don't believe we will see anything that even resembles that imaginary 'bubble'. Time will tell!</p>
<p> </p>
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robertsimeon-hRNTwJyXkQ

Want to know when the market will change? Keep an eye on interest rates

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<p>Forecasters are setting themselves up to fail when they make very exact predictions about future price growth.</p>
<p>I've long been puzzled by economic forecasters predicting, for example, that Brisbane house prices will grow 7.4% in 2014-15 (not approximately 7% or 8%, mind you, but exactly 7.4%) and then exactly 7.5% in 2015-16 – as QBE has done with its Australian Housing Outlook report, with the help of BIS Shrapnel.</p>
<p>What micro-economic event will occur in 2015-16 to cause Brisbane's average price growth to limp 0.1 of a percentage point higher in that year, compared to the previous year?</p>
<p>Why will Melbourne prices grow exactly 2.2% in 2015-16 and then decrease exactly 0.7% in 2016-17?</p>
<p>What chance the forecasters will be right? I would suggest zero (and that's an exact figure I can predict with confidence).</p>
<p>Has this kind of forecast ever been exactly right in the past? No. I've checked and I can't find an instance of an accurate prediction.</p>
<p>So why do it? Why pretend you can predict city price growth two or three years into the future, down to the last decimal point, when it's not remotely possible to be right?</p>
<p>The most likely answer is: to drum up a bit of publicity, comfortable in the knowledge that most media outlets will publish this nonsense without asking a single question. And even more comfortable in the knowledge that no one will check in three years to see how accurate the forecasts were.</p>
<p>Louis Christopher of SQM Research commented earlier this year that organisations who make big claims or extreme forecasts for publicity reasons rely on "the community's collective amnesia" to cover their tracks.<br>In other words, they can relax, knowing that no one will bother to check on the results of their forecasts, much less hold them to account for them.</p>
<p>Even more alarming about this forecast report is that it is fundamentally based on data from the Real Estate Institute of Australia.</p>
<p>It lists Real Estate Institute of Australia (REIA) figures for the previous decade and then extrapolates forward, with predictions for the next three (financial) years.</p>
<p>The Melbourne figures are particularly rubbery. According to the REIA, Melbourne prices rose a tad under 20% in the financial year that ended on 30 June.</p>
<p>Such a figure is fanciful. All the other major research sources contradict it. RP Data says 9%, Australian Property Monitors says 10% and the Australian Bureau of Statistics says 9%.</p>
<p>Even more spectacular, the REIA claims Melbourne prices rose almost 27% in 2009-10.</p>
<p>As I have written previously in this column, the institute's figures for Melbourne growth are good for a laugh, but no one sensible gives them any credibility.</p>
<p>I've called the REIA to account numerous times in the recent past on the accuracy of its price data – and now the institute refuses to send me their figures. Fortunately, it's not difficult to get a copy of their reports from other sources.</p>
<p>The one thing that does make sense about the QBE report are the general themes, in terms of which locations are likely to rise and which are not.</p>
<p>For example, it suggests Brisbane will be the leading city for growth in the next three years, and that makes some sense. It also suggests that Adelaide and Hobart will do better than Melbourne, Perth, Canberra and Darwin, and that generally aligns with my own thoughts, based on our research.</p>
<p>It forecasts growth in some of the key regional centres, such as Newcastle, Wollongong, Ballarat, Bendigo, Cairns, Townsville, the Sunshine Coast and the Gold Coast – and that also makes sense.</p>
<p>But the exact numbers they have applied to those cities for price growth in the next three years? Give me a break.</p>
<p><em>Terry Ryder is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> him or contact him on <a href="https://twitter.com/hotspotting" target="_blank">twitter</a>.</em></p>
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