<p><a href="https://www.apartments.com.au/developers/jl-place">JL PLACE</a>'s Veil Brighton is approaching its final months of construction, with the nine-townhouse development at 17 Rooding Street expected to complete in December 2026.</p>

<p>The milestone is bringing the boutique project closer to becoming a finished part of the <a href="https://www.apartments.com.au/developments/brighton-vic-3186">Brighton</a> streetscape, with much of Brighton's everyday amenity within a short walk.</p>

<p>Palace Cinema, Coles Supermarket and North Brighton Station are all around five minutes on foot from <a href="https://www.apartments.com.au/new-townhouses/veil-brighton-17-rooding-street-brighton-vic-3186">Veil</a>, alongside numerous cafés, restaurants and bars. The station provides a direct rail connection toward Melbourne's CBD, while Bay Street and the wider Brighton retail and dining network add to the range of services accessible without relying on a car for every trip.</p>

<p>"The location was fundamental to the project. Brighton is an established suburb where many buyers already have strong connections to the area and want to remain close to the people, places and amenities that form part of their everyday life," the developer said.</p>

<p>"Veil sits in a highly walkable part of Brighton, with a Walk Score of 90/100."</p>

<p>For buyers looking to right-size within Bayside, that level of walkability adds to the appeal of a more manageable way of living. Everyday shopping, dining, entertainment and public transport can be accessed without relying on the car for every trip, while residents remain connected to the places and routines that make Brighton familiar. It allows buyers to simplify day-to-day life without giving up the convenience, amenity and connections they already value.</p>

<p>[smartcode_project:default project_id=7877 project_image_fid=355754]</p>

<p>As completion approaches, the architecture, landscaping and material palette are progressively becoming visible on site, giving prospective purchasers a clearer view of the finished development beyond its plans and renders.</p>

<p>Veil comprises nine townhouses, predominantly three-bedroom homes with between 2.5 and 3.5 bathrooms, two car spaces and, depending on the residence, study areas and private outdoor space. Selected homes include a bedroom on the ground floor.</p>

<p>Veil occupies a middle ground between detached housing and apartment living, retaining private gardens, storage and secure parking within a more manageable residential format.</p>

<p><a href="https://www.apartments.com.au/architects/schmidt-pang-architects">Schmidt &amp; Pang</a> designed the architecture around natural light, ventilation, privacy and practical use of space. From Rooding Street, the façade has been composed to read as a cohesive residential building rather than nine individual townhouses, with landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick Landscape Architects</a> integrated throughout the site.</p>

<p>Inside, natural stone, oak flooring, integrated joinery and brushed nickel finishes establish a restrained material palette, while kitchens include Miele appliances and substantial storage such as pantries. Walk-in robes and dedicated study spaces have also been incorporated across the collection.</p>

<p>[smartcode_project:default project_id=7877 project_image_fid=355852]</p>

<p>The project team said the planning of the homes has been informed by how the spaces function for both daily routines and larger gatherings.</p>

<p>"Our new homes owners at Veil have enjoyed the attention to detail in creating efficient layouts that use every space well. Hosting Christmas lunch and large family gatherings is an ease when care is taken to consider how people really live and entertain."</p>

<p>Private landscaped gardens extend the living spaces outdoors, while secure basement parking and bicycle parking are provided below. The homes have also been designed to achieve a 7-star energy rating, supported by double glazing, high-quality insulation, natural ventilation, LED lighting, water tanks and water-efficient fittings. Each residence is backed by a 10-year building guarantee.</p>

<p>Veil is being built by <a href="https://www.apartments.com.au/builders/jeniton">Jeniton</a>.&nbsp;Limited-time stamp duty savings are also currently available on selected purchases at Veil, adding another consideration as the project moves toward completion.</p>

<p>[smartcode_project_cta:default project_id=7877]</p>


Joel Robinson

Veil Brighton nears completion in one of the suburb's most walkable pockets

<p><a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a> has recorded 134 sales worth just over $400 million in two months of pre-release activity at The Riversdale, as the developer brings its $750 million South Brisbane riverfront project to the broader market.</p>

<p>The sales represent more than 60 per cent of the project's 213 apartments, with Mosaic reporting the majority of purchasers have been local owner-occupiers and downsizers.</p>

<p><a href="https://www.apartments.com.au/new-apartments/the-riversdale-by-mosaic-south-brisbane-91-montague-road-south-brisbane-qld-4101">The Riversdale</a> will rise 39 storeys from its north-facing site at 91 Montague Road, delivering a mix of two, three and four-bedroom apartments alongside a collection of Mosaic's premium Masterpiece Series Sky Homes.</p>

<p>[smartcode_project:default project_id=151614 project_image_fid=371872]</p>

<p>The early buyer response comes ahead of the wider evolution of the northern end of Montague Road, where The Riversdale will be one of the first major residential projects delivered within an emerging riverfront precinct.</p>

<p>Directly adjoining the development is a planned 7.1-hectare mixed-use precinct, set to introduce new residences, parkland and public realm along the river's edge. The Riversdale's position directly on the Brisbane River gives it a relationship with the waterfront that Mosaic says cannot be replicated by future buildings within the precinct.</p>

<p>The site is also the result of a years-long pursuit by Mosaic. The developer first earmarked the <a href="https://www.apartments.com.au/developments/south-brisbane-qld-4101">South Brisbane</a> property in 2018, reflecting what Founder and Managing Director Brook Monahan has described as a deliberately patient approach to acquiring development sites.</p>

<p>[smartcode_project:default project_id=151614 project_image_fid=372083]</p>

<p>"We aren't opportunistic," Monahan previously told Apartments.com.au.</p>

<p>"Every site purchase is carefully considered. As seen with Kangaroo Point and South Brisbane, it can take years to eventuate. There are sites we're looking at now that we may not secure for several years."</p>

<p>Designed in collaboration with <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau Proberts</a>, The Riversdale has been shaped around the qualities of the riverfront site, with apartments oriented to capture northern light and uninterrupted Brisbane River views.</p>

<p>Generous floorplans and expansive balconies extend the living spaces towards the river, while natural materials and a restrained interior palette have been selected with longevity in mind.</p>

<p>[smartcode_project:default project_id=151614 project_image_fid=371890]</p>

<p>Residents will have access to a level of amenity more commonly associated with world-class hotels and private members' clubs, with almost 3,000 sqm dedicated to wellness, connection, recreation and everyday convenience.</p>

<p>At ground level is a business lounge, private meeting rooms and dedicated workspaces. Mid-tower is a wellness sanctuary featuring magnesium hot and cold plunge pools, sauna, steam room, infrared therapy facilities, a Pilates and yoga studio, and a commercial-grade gymnasium.</p>

<p>Crowning The Riversdale is a rooftop featuring a 35-metre swimming pool with lap lane and spa, outdoor dining and seating terraces, firepit lounges and views of the city, river and Mount Coot-tha.</p>

<p>A private members' club-inspired retreat offers private dining rooms, a whisky lounge, media rooms and immersive entertainment experiences. Completing the amenity offering are two hotel-style guest suites and a resident-exclusive electric vehicle fleet and car-share program.</p>

<p>[smartcode_project:default project_id=151614 project_image_fid=371877]</p>

<p>The Riversdale sits at the northern end of Montague Road between South Bank and West End, around 1.3 kilometres from the Brisbane CBD, providing access to the city's major cultural, dining and recreation precincts.</p>

<p>It becomes Mosaic's largest Brisbane project to date and adds to a pipeline already under construction across the city.</p>

<p>In Brisbane, the developer is currently delivering The Bedford and The Carter at Kangaroo Point, both of which are approaching sell-out, with a further four projects being delivered on the Gold Coast. Mosaic has completed more than $2 billion in projects since 2012 and has a further development pipeline exceeding $2 billion across South East Queensland.</p>

<p>Early works are underway at The Riversdale, which will be delivered by Mosaic's in-house construction division. Completion is anticipated in late 2029, with remaining apartments priced from $1.98 million.</p>

<p>[smartcode_project_cta:default project_id=151614]</p>


Mosaic records more than $400m in two months at South Brisbane's The Riversdale

<p data-end="459" data-start="179">Lender, fund manager and apartment developer Princeton has completed <a href="https://www.apartments.com.au/buildings/marque-rockdale-602-608-princes-highway-rockdale-nsw-2216">Marque Rockdale</a>, the first new apartment development in South Sydney to provide its owners with a 10-year Latent Defects Insurance policy, the most comprehensive insurance available for a new apartment building.</p>

<p data-end="459" data-start="179">The policy has been a key consideration for prospective purchasers of the 58 one-, two-, and three-bedroom apartments, strategically located between&nbsp;Rockdale Plaza and Rockdale Station.&nbsp;</p>

<p data-end="459" data-start="179">Buyers have also been drawn to the fact that it is one of few new apartment developments delivered in the suburb in the last 10 years, and the only one located on Princes Highway to be set well back from the street to reduce noise. There's also a communal rooftop, a rarity in the suburb, complete barbecue facilities, landscaped seating areas, a children's play zone and herb gardens.</p>

<p data-end="459" data-start="179">[smartcode_project:default project_id=136442 project_image_fid=374084]</p>

<p>Ray White Projects’ Matt Otway said buyer enquiry reflected the increasingly diverse and cosmopolitan population that has made Rockdale home.</p>

<p>“We’re seeing strong interest from a broad mix of buyers, including young professionals and people who have rented in Rockdale and the surrounding suburbs and now see Marque as an opportunity to buy a brand-new apartment in an area they already know,” Otway said.</p>

<p>“Proximity to the CBD and Sydney Airport is another key advantage particularly for buyers working in these locations who want the added convenience of living close by.”</p>

<p>Investors have also been attracted to the project, with rental yields of more than five per cent, which is considered a strong result for the Sydney market.</p>

<p data-end="1812" data-start="1706">[smartcode_project:default project_id=136442 project_image_fid=374090]</p>

<p data-end="2015" data-start="1814">Adding another layer to the buyer proposition is Marque's 10-year Latent Defects Insurance policy from Resilience Insurance, making it the only new apartment development in Rockdale to offer the cover.</p>

<p data-end="2210" data-start="2017">The policy protects apartment owners against major structural and waterproofing defects for 10 years following completion, giving Marque purchasers cover until early 2036 at no additional cost.</p>

<p data-end="2486" data-start="2212">The likelihood of defects emerging has also been mitigated through the Technical Inspection Service (TIS), which saw independent experts inspect the building at various stages throughout construction to identify potential issues during the build, rather than after the fact.</p>

<p data-end="2674" data-start="2488">SDSS, which provided the TIS, consistently ranked the construction quality at Marque, undertaken by iCIRT-rated builder Coplex, among the best across its extensive portfolio of projects.</p>

<p data-end="2674" data-start="2488">[smartcode_project:default project_id=136442 project_image_fid=374088]</p>

<p data-end="2838" data-start="2676">Otway said the LDI had become a major drawcard for buyers, particularly given Rockdale has seen relatively little new apartment development over the past decade.</p>

<p data-end="2986" data-start="2840">"Rockdale hasn't had a lot of new apartment buildings in the last decade, and has never had a project with 10-year defect insurance," Otway said.</p>

<p data-end="3097" data-start="2988">"Marque presents a truly rare opportunity at an affordable price point, so well connected to the Sydney CBD."</p>

<p data-end="3256" data-start="3099">One-bedroom apartments at Marque start from $735,000.</p>

<p data-end="3744" data-start="3576">[smartcode_project_cta:default project_id=136442]</p>


Marque Rockdale completes as South Sydney’s first apartments backed by 10-year defect insurance

<p>Sydney developer <a href="https://www.apartments.com.au/developers/odus">ODUS Property Group</a> is continuing to expand its local Gold Coast development pipeline, filing plans for a new 40-storey tower in the Southport CBD.</p>

<p>Odus, which bought two luxury Main Beach projects, now La Mer and Le Reve, to make its move into the booming Gold Coast apartment market, has secured its third site. But it is tweaking the plans for a previously proposed 50-storey skyscraper, now seeking to deliver 40 storeys.</p>

<p>The project, dubbed <a href="https://www.apartments.com.au/new-apartments/80-marine-parade-74-80-marine-parade-southport-qld-4215">80 Marine Parade</a>, sits on a prime&nbsp;2,032 sqm amalgamated corner site at 74–80 Marine Parade and 4 Welch Street, across the road from the Gold Coast Aquatic Centre. It will have unobstructed, never-to-be-built-out views to the east given its position opposite the Broadbwater Parklands.&nbsp;</p>

<p>The plans are for 316 apartments, ground-floor retail, and resort-style resident amenities. The project sits within Precinct 1 (Central Business District) of the Southport Priority Development Area, where high-density residential and commercial development is actively encouraged.</p>

<p>BGD, ran by Bayden Goddard and the architecture firm behind Le Reve, has revised the original concept plans, substantially reworking the built form. Basement parking has been replaced by an expanded podium designed to improve functionality while reducing the tower's overall visual impact.&nbsp;&nbsp;</p>

<p><img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0f13d065-2cf5-45ec-aa17-1a03754d93d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%202.png?VersionId=.9QS2n7kBc_U3PyaI247uOyNSXIqnXSE" /></p>

<p>The tower rises above the eight-storey landscaped podium with a distinctive architectural language defined by sweeping arches, integrated greenery, bronze-toned glazing, and a sculptural rooftop crown.</p>

<p>The development will comprise 104 one-bedroom apartments, 208 two-bedroom apartments, and four four-bedroom penthouses across levels 9 to 36. Apartments are designed to accommodate both permanent residents and short-term accommodation within the same building.</p>

<p>A double-height lobby and reception will anchor the ground floor alongside a 23 sqm food and drink outlet, activating the Marine Parade frontage.</p>

<p>Parking will be accommodated within the podium, providing 288 vehicle spaces and 74 bicycle spaces, accessed from Welch Street.</p>

<p><img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="d7528b91-2c47-4094-98b3-5eecbacc0041" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da%20podium.png?VersionId=efF5oWs4T9PDvxJwJEDHu5kSQ5eE3IBy" /></p>

<p>Residents will have access to an extensive suite of amenities spread across multiple levels. A podium recreation deck will include a swimming pool, spas, sauna, steam room, cinema, residents' lounge and children's games room, while a second wellness level near the top of the building will feature a gym, co-working spaces, reading room, dining areas and communal kitchen. Extensive podium landscaping wraps the building to soften the built form and strengthen its interface with the surrounding streetscape.</p>

<p>The planning report notes the project responds directly to Southport's ongoing urban transformation.</p>

<p>"Consistent with much of Southport, the surrounding area is undergoing significant transition, with many older low-rise developments progressively being redeveloped for higher-intensity urban outcomes, as envisaged within Precinct 1."</p>

<p>It also states that the proposal "will contribute to a defined and legible eastern gateway to the Southport CBD, reinforcing the area's high-density urban character while maintaining a strong visual connection to the adjoining public open space network."</p>

<p><img alt="First look: Odus Property Group plots landmark 40-storey tower for Southport's Broadwater gateway" data-entity-type="file" data-entity-uuid="0b9fdebd-4b35-400b-a287-6bd1cdbcdb1b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Southport%20da.png?VersionId=4LG35XR5mfir7jvG2TShtQx.utMLYBxu" /></p>

<p>Located opposite the Broadwater Parklands, the site enjoys immediate access to the Gold Coast Aquatic Centre, Australia Fair Shopping Centre, TAFE Queensland Southport campus, the G:link light rail corridor and Southport's established commercial precinct. The location places future residents within one of the Gold Coast's fastest-evolving mixed-use centres, where numerous high-rise residential projects are reshaping the CBD skyline.</p>

<p>Odus is headed by development professionals Byron Sakha, Jarrod Younan and Sebastian Younan. The Younans also head family-owned builder Nazero Constructions, established in the 1960s.</p>

<p>They are currently delivering La Mer, 24 luxury apartments on Main Beach Parade, and Le&nbsp;Rêve, on the same street but on the prized beachfront side of the sought-after strip.</p>


ODUS plans landmark 40-storey tower for Southport's Broadwater gateway

<p>A boutique collection of just 10 residences could become the catalyst for the next phase of renewal along the southern end of Surfers Paradise Boulevard, with new plans laid for a mixed-use tower designed to transform a long-vacant site.</p>

<p>The proposal for <a href="https://www.apartments.com.au/new-apartments/3098-surfers-paradise-boulevard-surfers-paradise-qld-4217">3098 Surfers Paradise Boulevard</a> has been conceived as more than a standalone residential project. Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the development aims to spark the revitalisation of what the design team describes as the "South Boulevard" precinct, creating an active streetscape with retail uses at ground level beneath a collection of full-floor luxury residences.</p>

<p>The application, by PR Property Holdings, an entity directed by the Brisbane-based Ryan and Petrovic families, seeks approval for a 17-storey, 62.2-metre mixed-use development on a compact 427 sqm site between Surfers Paradise Boulevard and Appel Street.</p>

<p>The project will comprise just 10 apartments, including eight full-floor residences and two duplex apartments, positioned above a two-level retail podium. Three podium parking levels will accommodate 26 vehicle spaces, while a recreation deck is proposed on Level 4.</p>

<p><img alt="First look: PR Property Holdings plans boutique apartment tower to kickstart Surfers Paradise's 'South Boulevard' revival" data-entity-type="file" data-entity-uuid="46cfa37d-5051-4449-8d8e-6724f8ca0d59" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_8.png?VersionId=e7UkeV1eTZAC2lXhdq72E3jpUbwiFD2t" /></p>

<p>Rather than pursuing apartment volume, the proposal focuses on large-format homes with a slender tower form intended to maximise outlooks while limiting visual bulk.</p>

<p>BDA Architecture said the proposal has been designed to become an urban renewal catalyst for the precinct.</p>

<p>"The ambition of 3098 Surfer's Paradise is that it provides the catalyst for incremental infill redevelopment and upgrade of what is coined the 'South Boulevarde' of Surfers Paradise which connects to the beating heart of Cavill Avenue."</p>

<p>The architects added: "An incremental approach to development that provides quality ground plane interface, human scale design, integrated subtropical landscape and semipublic permeable frontage can over time entirely upgrade a precinct."</p>

<p>The architecture adopts soft curves, articulated balconies and a slender tower profile rising from a human-scaled podium. The design report describes the project as delivering "bespoke residences of enduring distinction, sculpted with precision and quiet sophistication," with a focus on timeless coastal architecture.</p>

<p>The application also includes retail tenancies addressing Surfers Paradise Boulevard, reinforcing the site's role as an active mixed-use destination rather than a purely residential address. The planning report states the combination of the podium, landscaping and active frontage is intended to strengthen the pedestrian experience while contributing to the evolving character of the boulevard.</p>

<p>The site occupies a prominent position in the southern section of Surfers Paradise, directly opposite the G:link light rail corridor and within walking distance of Surfers Paradise Beach, Cavill Avenue, the Nerang River and Bruce Bishop Car Park. It is currently vacant, having previously accommodated a single-storey commercial building that was demolished in 2022. The planning report notes the surrounding area is characterised by a mix of commercial buildings and residential towers, with unlimited building height provisions applying under the Centre Zone.</p>

<p>The proposal also replaces an earlier 2022 approval for a restaurant and bar on the site, instead introducing a permanent mixed-use development that combines retail activation with boutique residential living.</p>


Boutique apartment tower to "kickstart" Surfers Paradise's 'South Boulevard' revival

<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>
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The 10 cheapest unit suburbs in ACT

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<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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