Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

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.

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.

“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.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“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.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

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.

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.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

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.

The developer is also exploring the potential for additional affordable housing outcomes.

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.

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.

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.

&nbsp;

&nbsp;

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.

“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.”

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.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

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.

Joel Robinson

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

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.

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.

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.

<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" />

“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.

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.”

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.

<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" />

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.

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.

“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.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

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.

<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" />

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.

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.

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

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.

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.

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.

<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" />

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.

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.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

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.

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.

<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" />

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.

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.

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

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.

The proposal will now proceed to a full council vote on June 2.

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;

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;

<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" />

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;

Centre owner Patrick Lu said the milestone reflected months of detailed planning, technical assessment and ongoing communication with local residents, businesses, schools and stakeholders.

“We appreciate the time, consideration and care Council officers and the Planning Committee have given this proposal throughout the assessment process,” Lu said.

“We also sincerely thank the local community for engaging with us, sharing feedback and participating in the consultation process over many months.

<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" />

“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.

“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.

“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.”

<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" />

Lu said the proposal had evolved significantly through consultation and technical review, particularly around traffic, pedestrian and student safety and neighbourhood connectivity.&nbsp;

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.

“This proposal represents the type of thoughtful, integrated growth that planning frameworks across South-East Queensland are encouraging,” Ms Griffin said.

“The project seeks to place housing, retail, healthcare and employment opportunities together in a highly accessible location close to schools, transport and existing services.

“Importantly, the process has involved significant technical assessment and community engagement to ensure local issues and feedback were properly considered throughout the planning pathway.”

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

Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers.

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>.

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.

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.

<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" />

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.

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.

“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.

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.

“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.

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.

The project will also introduce new food and beverage offerings along the Enderley Avenue and Oceanway frontages, contributing additional activation to the beachfront precinct.

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

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

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

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Managing your own investment property has its advantages. You get to maintain control of the process and it can save on agent costs but there are traps that investors need to watch out for.
Property Observer talked to NSW Department of Fair Trading senior customer service officer Hollie McPherson about the common mistakes that self-managing landlords make.
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Access One of the most common complaints the NSW Department of Fair Trading receives about self-managing landlords relates to accessing the property without permission. “Because it’s a significant investment that people make when they buy and investment property, sometimes the landlord will not let go of the property and turn up without providing sufficient notice,” McPherson says. Retaining control over management does not mean you can ignore the rules about access. Landlords need to remember that tenants have rights and must obtain permission to access the property, except in some special cases. Landlords often face problems with tenants failing to grant access for the landlord or others to come to the property to carry out repairs, for example. If the tenant fails to provide access after the landlord has given the proper notice, the next step for the landlord would be to go to the dispute service offered by the Department of Fair Trading. 
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Bonds Another common mistake that self-managing landlords make is not lodging rental bonds with the Department of Fair Trading, McPherson says. Landlords in NSW must lodge bond money with Fair Trading. Some landlords keep rental bonds in their own personal bank accounts, which can make it difficult for tenants who are leaving a property to recoup their bond. That’s not allowed. Landlords sometimes request more than four weeks’ worth of rent to be held as a bond but that’s also against the rules. 
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Documentation “Sometimes landlords forget [a rental property is] like a business,” McPherson says. “You do need to have things in writing. It’s a protection for the tenant and for the landlord.” There’s no requirement in NSW to have a written tenancy agreement in place when renting out a property. When there’s no rent agreement, the lease reverts to a six month agreement that applies to both landlord and tenant. The landlord can’t increase the rent during that period and the tenant can’t stop paying the rent. While it’s not a requirement to provide a written tenancy agreement, it’s a good idea to have one. It’s difficult to prove that someone is a tenant and not a guest if there’s no tenancy agreement in place, McPherson warns.  A tenancy agreement should show what’s included under the lease agreement. It should also include a condition report that documents any damage or flaws in the property when the tenant moves in and out. “It’s an investment property so you want to keep track of what condition the property was in at the start of the lease,” McPherson says. Take photos for evidence. When the tenant moves out agree a time to inspect the property. If there’s damage the landlord can get works done and show receipts to the tribunal to have the repairs paid for out of the bond money. “Without that it’s really hard for the landlord to prove who caused the damage,” McPherson says. With rental payments, McPherson says it’s wise to provide rent receipts to the tenant or keep a tenant ledger, although some landlords fail to do this. “Keeping a tenant ledger is good for the landlord because it shows if the tenant is up to date also it’s good for the tenant because they can use it for future rental applications,” McPherson says. As a landlord, you’ll probably need to keep track of rental payments for your own tax records anyway. 
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Charging for utilities Landlords sometimes make the mistake of trying to charge for utilities when they are not allowed to. “There are clear rules for when you can and can’t charge for water usage,” McPherson says. If there’s only one water meter for multiple residences, such as in an apartment building, you can’t charge utility bills, for example. 
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Staying in touch Another common mistake is that landlords will only provide a mobile number to their tenants which can make it difficult for the tenant to get in touch with them. “It’s important for the landlord to give [the tenant] their full name, address to write to, telephone number or email address,” McPherson says. If something goes wrong, it’s important to try to contact the tenant to try to have a discussion about the problem. Keep a written record of what was discussed, including a diary of conversations and communication with the tenant. Record details such as when repair works will be completed, or why modifications won’t be made if the landlord chooses not to do work that the tenant requests. “It doesn’t matter how good the relationship was at the start things can go sour,” McPherson says. 
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Seeking help If landlords are not sure of what to do, they can contact the Department of Fair Trading for advice, McPherson says. There are also fact sheets on the website that can assist. Fair trading can negotiate with the tenant on the landlord’s behalf, free of charge. Mediation is mostly conducted by telephone but if required Fair Trading can facilitate to face-to-face meetings. “If [landlords] make an effort to resolve issues, keep records in writing, then the service we offer is quite effective in negotiating the outcome,” McPherson says. If the problem can’t be solved through mediation, the next step is to go to the NSW Civil and Administrative Tribunal for a binding decision. It costs $47 to lodge a case with the tribunal.
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Note that this story refers to processes and rules in NSW only. The details will be different in other states and territories but the basic principles are still the same.
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The six most common mistakes self-managing landlords make

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GUEST OBSERVATION
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<li>The agency which sold you the investment property is not necessarily the best to manage it – it is worth actively reviewing your choices in the local area, rather than just taking the most obvious option. </li>
<li>The person who signs you up at an agency may not manage your property. This means you have limited opportunity to assess the calibre of the people who will actually manage your hard-won asset. </li>
<li>Even if you go to a great deal of effort to select an individual property manager, it’s also vital to assess their agency as a whole. Many agencies have high rates of staff turnover but good business systems help ensure consistency regardless of which manager looks after you. </li>
<li>The best property managers do more than collect the rent and organise repairs. For example, they can alert you to the benefits offered by depreciation schedules, suggest high-return improvements and make sure you are aware of your options when it comes to insurance. </li>
<li>Property agencies should be judged on quality not just price. The advantage of a slightly lower management fee will quickly be eroded if there’s an unnecessary vacancy or a badly-prepared tribunal appearance. Don’t forget to ask how many properties each manager has to handle when comparing agencies, and whether they hold open for inspections on weekends. Examine all their ancillary fees as these can really add up. </li>
<li>While it’s important not just to focus on price when selecting an agency, it’s also worth remembering that you can negotiate – the higher end the property, the more room there usually is to manoeuvre. Those with a larger portfolio also have more power to strike a better deal. </li>
<li>Consider doing some mystery shopping before deciding on an agency. Inspect the quality of “for lease” ads and photography, checking how long it takes for calls to be returned and even turn up to an open for inspection. </li>
<li>While property managers are on “your side”, they also have a professional duty of care towards tenants and a responsibility to ensure relevant legal rules are followed. Property managers need to be able to negotiate in a firm but personable manner with tenants and landlords – so when they say you can’t make DIY electrical repairs, for example, don’t take it the wrong way! </li>
<li>Property management is not an easy job. Think twice before taking on the role yourself – poor quality tenants often target DIY landlords because they know a professional will screen them out. It’s no coincidence that the landlords in tears in current affairs television over their “trashed house” are almost always managing their property themselves. Even with professional managers, there are no guarantees but, if worst comes to worst, they are better equipped to deal with the eviction process. </li>
<li>Property managers usually have access to a network of quality, responsive tradesmen. These may not always be the cheapest in town, but have proven their ability to get the job done reliably. If the quote provided really is over the top, take the time to do some research on alternatives – and be polite in raising the matter. Set aside some of the rent you receive so that you can afford repairs. </li>
<li>Read your annual rental statements with an eye for what’s missing as well as what’s there – has money been taken out for pool maintenance, gutter clearing and the like? If not, ask why. </li>
<li>Property managers can make your investment journey easier and smoother, but the buck stops with you – it’s up to you to carefully select your property manager, respond to their queries, monitor their performance and proactively change managers if necessary.</li>
</ol>
Sharon Fox-Slater is the General Manager of EBM Insurance Brokers’ <a href="https://www.rentcover.com.au/" target="_blank">RentCover </a>landlord insurance division.
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sfoxslater-oVy9VUHSz9

The 12 must-know tips for dealing with property managers

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RP Data’s statistics revealed four suburbs across Australia where the median price was listed under $100,000. 
Property Observer couldn’t help but ask “Why are they so cheap?”
Digging a little deeper, we decided to discover just why these median recording prices were so suppressed.
Of course, small regional areas – as these tend to be – are usually more volatile in their medians due to the infrequency of transactions, particularly when looking at units. Some of these areas have very few apartment blocks. Investors are always urged to understand what the median price is, and how it is affected by the type of properties that transact over a period. Here are four things to know about the figure before relying on it.
Some areas will be cheap due to their location - far from any employment hubs - while others will have a different makeup that ensures their prices are recorded low. There's a reason that you're unlikely to have heard of some of these four areas - they're not all bustling hubs that property investors are used to looking at. However, this doesn't mean they don't have their opportunities - while re-sale may be a tricky situation and something to consider, the yield figures are strong on paper and at least one listing seems to suggest that rental returns may be attractive.
<ul>
<li><a href="/news">Gin Gin</a>, Queensland: $41,000</li>
</ul>
The tiny rural township Gin Gin, about 48 kilometres inland from Bundaberg, is the cheapest across the country when looking at the area’s median price for units, according to RP Data.
Houses in the area were recorded at $216,000.
Current listings suggest that it may have been a month of cheaper sales for Gin Gin, with apartments on the market for around the $200,000 mark. The cheapest offerings are blocks of land from $33,500 – including some in an eco-park.
According to the 2011 Census, the suburb of Gin Gin had just 157 people, while the state significant area had around 5,000.
It seems that infrequent sales are skewing the median - with just seven recorded by RP Data to calculate their most recent median.
<ul>
<li><a href="/news">Mission Beach</a>, Queensland: $69,000</li>
</ul>
Tourist township Mission beach in the Cassowary Coast Region is the lowest priced beachside apartment currently listed at $150,000.
The median house price is set at $342,000.
Property Observer did find a number of $60,000 sales on Sandy Close and Iluka Close for blocks of land that had been tagged as units over June and July that may have skewed the median. There was also a $50,000 sale on Sandpiper Close. These appear to be part of Oasis Mission Beach – Iluka Close was part of Stage Two.
Again, just five sales were recorded for Mission Beach units. It appears that this figure is highly unusual, and not indicative of what you'd be paying for a unit - with a gross rental yield statistic at 25.34% and rent at $335 per week (which aligns with what is currently seen in rental listings), it was a struggle to find a unit under $100,000 that would return this figure.
As a state suburb, the 2011 Census recorded just 765 people in residence
<ul>
<li><a href="/news">Risdon Park South</a>, South Australia: $84,000</li>
</ul>
It appears that sub-$100,000 options are certainly on the cards for those looking to buy in Risdon Park South’s surrounding suburbs in <a href="/news">Port Pirie</a>.
At present no listings for the immediate Risdon Park South area were found. Current listings include an $89,900 “maisonette home” or three-bedroom, one-bathroom unit in Port Pirie. However, it is under offer at the moment.
Meanwhile, also in Port Pirie, a one-bedroom, one-bathroom offering for $99,000, which markets itself to investors or retirees, is available.
Port Pirie is the larger township, and as of the 2011 Census Risdon Park South was home to 1,975 people.
It seems a number of duplexes, including one on Hutchinson Street for $75,000 and one on Plenty Street for $80,000, may be keeping the median price down. One property listed in the area, for $85,500, is a solid brick maisonette offering.
In total, 12 unit sales were noted by RP Data. They recorded the median house price at $275,000.
<ul>
<li><a href="/news">Hamilton</a>, Victoria: $85,000</li>
</ul>
Currently, in Hamilton, there is one listing under $100,000 – a one bedroom, one bathroom flat asking for $95,000 on Moore Street, currently rented at $120 per week. Two-bedroom units span from $122,000 upwards.
Hamilton’s median house price sits at $197,000.
Located 300 kilometres west of Melbourne, or a three to four hour drive, it’s best known as a sheep grazing and agricultural area, however as a state suburb is recorded as housing 10,104 people in the 2011 Census data.
Just 12 unit sales were recorded. Suggesting a 13.46% gross rental yield, on $220 weekly median advertised rent for units, it appears that while in reality the yield may still be strong - you'd be looking for closer to the $200,000 bracket in a purchase to achieve the $220 rent.
Keen for more data? You can peruse our free suburb data here.
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Why so cheap? The four suburbs with median unit prices sub $100,000

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CFS Retail Property Group has booked a $400 million net profit for fiscal 2014, up 35% on the prior year.
The retail property trust has $14.2 billion of assets under management, including $8.9 billion held on balance sheet.
It is cautious on retail sales in the short-term given the 2015 federal budget impact but expect specialty store sales to steadily improve, chief executive Angus McNaughton forecasted, as Emporium Melbourne comes on line.
It officially opened its $1.2 billion Emporium Melbourne<a href="/expert-insights/investing/the-emporium-melbourne-officially-opens-its-doors"> in Baz Luhrmann-produced extravaganza</a>.
The Emporium comprises 45,000 square metres of retail space.
It is forecast to deliver 5% yield on cost.
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jchancellor-FAypfDUnLy

Emporium Melbourne forecast to deliver 5% yield on cost for CFS Retail

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Tuesday night's episode of Location Location Location saw two buyers toss up between the two values every property player holds dear: property and location.
Bryce spent the episode helping out Laura and Marcus from Melbourne. The retro loving couple have been together for almost 11 years and have a three year old son, Archie. 
Formerly restless, with 10 moves in 10 years, the couple were keen to put some roots down - preferably in <a href="/news">Altona North</a>, where they were renting. They required a two to three bedroom house, with a big backyard for Archie. But most importantly, Marcus needed a sizable garage for his latest acquisition - a 1971 Valiant Regal, which he is in the process of restoring.
Unfortunately, after two years of looking, they'd had no luck. With both Laura and Marcus working for not-for-profit organisations, they were on a tight budget of $540,000. 
Bryce's first move is a trip to <a href="/news">Seabrook</a>, a new suburb 15 minutes further out from the CBD from Altona North, in Melbourne's west. Laura was skeptical of the area from the very start, despite a good school within walking distance. The new build house they visited had an asking price of $470,000, well within the couple's budget, and had a covered entertaining area with a small grassy backyard for Archie and garage space for the Valiant.
Although the house itself had plenty of pros, the distance from the city was a big con, especially for Laura - and so it became apparent that for this couple, it really was all about location, location, location.
Next stop was Altona, <a href="/expert-insights/investing/julia-gillard-set-to-move-back-to-adelaide-but-not-leave-altona-imminently">the one-time home of Julia Gillard</a>. Bryce had found a single storey three bedder with a large loungeroom, dining anrea and kitchen, with plenty of space for Archie. The house, which needed a little work, was also offered at $470,000 and was set to go to auction.
He also tracked down a house very close to home, in Altona North. The three bedroom house with separate dining and a garage preserved the home's original 60s features (a big plus for Laura and Marcus), but was in the shadow of a large refinery - no doubt a factor in the home's relatively modest $520,000 asking price. Though the couple were keen, they decided in the end that the backyard view of the refinery wasn't for them.
In the end, Bryce brought Laura and Marcus to another Altona North home - this time, far away from the refinery. With three good sized bedrooms, a garage and a substantial backyard, the single storey brick home on a 535 square metre block ticked all the boxes. The vendor was after no less than $510,000, but Bryce put in a strategic unconditional offer of $501,000, which did the trick, <a href="https://www.realestate.com.au/property-house-vic-altona+north-115977407">securing the home for Laura and Marcus</a> (pictured below).    
<img src="/images/2014/08/21/1.jpg" alt="">
Sydney sisters Jackie and Juliet found that house trumped location in their search for a home for Juliet. The sisters, originally from England, were hunting for a house for Juliet, with Veronica's help. Juliet has scoured the market for a house but is nervous about buying and hates auctions.
Five years on from the removal of a life-threatening brain tumour, she decided that it's finally time to settle down and get on with her life, and wanted to put down some roots. She was after a two bedroom home in an inner-western Sydney suburb with a village feel. She was keen on period homes, and dead set on a bath, with a $910,000 budget. 
Veronica first took the sisters to Luluville, a terrace cottage in <a href="/news">Rozelle</a> which dates back to the early 1900s. Outside, the home had a split level garden for entertaining, and was a snug fit. Jackie ruled that the home was too small, although it did fall within the budget, with a $800,000 price guide and a $850,000 plus estimate from Veronica. The sisters tossed up some renovation ideas, but couldn't figure out a price efficient way to make the house bigger.
Next they went to <a href="/news">Enmore</a>, where another terrace house offered a little more space. The solid double-brick home home made a good first impression for Juliet, and had original fireplaces. Currently occupied by tenants for another six months, the house had two bedrooms, a separate lounge and large eat in kitchen, with a $850,000 price tag. Unfortunately, with the auction only 48 hours after the sisters made the inspection, the home didn't make a strong enough impression to force them into action. 
The sisters also inspected a home in <a href="/news">Leichhardt</a>, another terrace. Unlike the other properties Juliet had walked through, this one had been renovated, with an extension upstairs. There was a "functional" backyard, a rather spartan, minimalist affair. Upstairs, the "spare room" was really a little mezzanine with a balcony, with no door but room for a single bed. According to Veronica, the questionable functionality of the upstairs spare room could just make the home's price attainable. It came with an $800,000 price guide.
Finally, the sisters travelled to <a href="/news">Erskineville</a>, only five kilometres from the city centre. The recently renovated home preserved some period features, with two upstairs bedrooms, and an open plan living and dining area downstairs, with a courtyard. However, the home had a small, galley style kitchen with limited storage - a major negative for Juliet. 
Vendors were accepting offers over $800,000 for the Erskineville home.
After some umming and ahhing, the sisters settled on Leichhardt, thanks to its good sized kitchen and small private balcony. Veronica put in a strong $850,000  bid after waiting til they arrived at the second week of the auction campaign, securing the home and saving Juliet from the dreaded auction process.
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jrichardson-uRX5hFdKfN

Location Location Location: The crucial compromise

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GUEST OBSERVATION
I never in my wildest dreams thought that I would be able to buy quality property in Sydney under $300,000…
But the GFC awarded me this moment in time that we absolutely took advantage of it. <a href="/news">Campbelltown </a>(Macarthur Shire) was the spot.
But why Campbelltown? It made for some great buying, simple!
The south-western Sydney location had all the ingredients of a great investing location with a fast growing population, great accessibility to employment in Sydney CBD or growing commercial and industrial sectors in Minto and Hoxton Park through either the M5 freeway or by train.
The last key ingredient was the GFC. This caused house prices to drop dramatically and consumer confidence to go out the window, allowing me to have no competition with other buyers and allow for some pretty low offers to secure some great deals.
This all happened for us in 2009. I was that confident in the area that I purchased eight properties there. Well, that’s all the past and now is what we want to all hear about, the results.
I am glad to say that we have had a few investors recently sell their properties in Campbelltown for what I would call “very impressive” results.
We were that confident, we even filmed the first property to be auctioned and it went better than expected!
The reason for some of our clients selling is to grab the profits they made from their investment property and pay down their home loan in a lump sum. Imagine having a home loan for $300,000, being able to drop $100,00 plus onto it in one go, making it $200,000.
Wouldn’t that increase your cash flow dramatically?
With a quick loan re-adjustment, it sure would!
But, you don’t stop there – now your cash flow has increased along with the available equity in your home, you go back out and buy two or three properties.
When two of those properties mature in value, you do the same and pay off your home loan in full!
Since this, we’ve had another great result with a client selling their house we purchased for $298,000 and sold for $412,000. 
Back to the story, I congratulate these investors doing what most wouldn’t – invest when everyone else ran away and they will reap the rewards for doing so.
TODD HUNTER is buyer’s agent, director and location researcher for Sydney-based <a href="https://www.wheregroup.com.au/" target="_blank">wHeregroup</a>.
He reached a personal investment portfolio of 50 properties in 2006 and has also started building an SMSF portfolio.
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thunter-umjjMzoT8b

The investors who bought when everyone else was running away are now reaping the rewards

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This week is full of announcements from some big Australian companies. Things are changing.
Two announcements come from BHP Billiton and AGL and both will have a big impact on the Hunter Region of NSW. Hopefully a positive change that will strengthen the local economies and translate to the housing market.
As you all know, property is my number one choice of investment strategy. In contrast, my share market investment experience is pretty limited. In fact, I can nail it down to two things; watching what my managed superannuation fund does and sitting around a table with a group of girlfriends drinking wine and having a little bit of input into the allocation of my investments in our Kash Kow funds.
The Kash Kows was formed about 10 years ago when a few women decided we should build our investments and have a bit of fun trying to figure out how the stock market works. We all throw in $25 per month then when there is enough money in the kitty, make some (usually) dodgy decisions on what we buy. We do try and get in 'guest speakers' ply them with alcohol and nibblies then hit them up for a tip. Other times we will actually do some real  research to work out what company to invest in. We started as 'share traders' which quickly turned to 'share investors' when none of us had time to watch the daily fluctuations of the share market and actually do the trades.
Luckily for us we had purchased BHP long ago at about $12 a share. While I can safely say we are nowhere near their major shareholders, I do take an active interest in what BHP do, particularly in the Hunter.
'BHP's demerger sees it keep it's Hunter Valley coal mines' read one headline that caught my eye this week.  With the big company deciding to split their interests and assets into two, I wondered what was their criteria in choosing which would stay with BHP and which would be 'spun out'.
Recently BHP was able to boost exports and cut costs sufficiently to overcome the slide in commodity prices. Its current share price is reflecting this. So are the vacancy rates in <a href="/news">Muswellbrook </a>and <a href="/news">Singleton</a>. Cutting costs meant letting go of contractors and downsizing some divisions.  However productivity so it seems, has never been so good.
I read it's the first time in three years that BHP has improved profits year-on-year. This has been achieved despite prices for some of BHP’s most important commodities – particularly iron ore and copper – trending lower during the 2014 financial year.  They seemed to have ramped up their volume in coal.
BHP has said it would include its Illawarra metallurgical coal business in NSW in the demerged group, but would be hanging on to its thermal coal assets in the state’s Hunter Valley. Metallurgical coal is less abundant than thermal coal and is primarily used in the production of coke, which is an important part of the integrated steel mill process. 
“In a single step, we will significantly increase BHP Billiton’s focus on the exceptionally large resource basins that underpin its competitive advantage. As we move towards a simpler portfolio, comprised of our pillars of Iron Ore, Copper, Coal, Petroleum and potentially Potash, we will become a higher-margin, higher-return business..." said BHP Billiton Chief Executive Officer Andrew Mackenzie.
My interpretation of this change is a sign of confidence from the company in the coal mines of the Hunter Valley.
The other big 'change' announcement this week was the AGL and Macquarie Generation (MacGen) owned by the NSW State Government acquisition. The deal covers the Bayswater and Liddell power stations near Muswellbrook, the Liddell solar farm, the Hunter Valley gas turbine near Liddell, the development site ‘‘Bayswater B’’ for a new base load power station four kilometres west of Bayswater, and the Tomago generation development.
From the proceeds, about $700 million is expected to go into the government infrastructure fund Restart NSW to fund high priority future infrastructure projects across NSW like schools, rail, roads and hospitals. The <a href="https://www.hunterinfrastructure.nsw.gov.au/About.aspx" target="_blank">Hunter Infrastructure &amp; Investment Fund</a> will benefit from this.
AGL says there are many strategic benefits to this purchase and plans to spend $405 million over four years on revised maintenance and upgrades at its Liddell and Bayswater plants.
Hopefully this change and investment will also trickle down into the local economies.
And so I ponder on these two large change projects and have to agree with George Bernard Shaw that "Progress is impossible without change".
<a href="https://www.propertybloom.com.au" target="_blank">www.propertybloom.com.au</a>
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jochivers-wq5Bp59R5a

Change is coming to the Hunter Valley

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It’s fair to say that the name Baz Luhrmann is not exactly synonymous with restraint.
The Australian director best known for pulling off meticulous and extravagant displays of debauchery in films such as The Great Gatsby, Moulin Rouge and Romeo + Juliet, brought his trademark touch to the grand opening of Melbourne’s Emporium shopping centre last night.
The $1.2 billion centre in the shell of the former Lonsdale Street Myer building was looking suitably glamourous for the event's 1,500 attendees.
The opening came at a great time for the centre’s owners, CFS Retail Property Group, who just announced a $400 million net profit for the 2014 financial year.
International retailers Top Shop and Uniqlo are among the tenants who have been welcoming customers for a few months preceding the launch. Though a few of centre's tenants are still waiting to open, the 225 retail spaces at Emporium are fully leased.
Luhrmann's vision for the opening was a "reimagined" Melbourne. While the opening event's giant tennis ball, beneath a cavorting acrobat, was a nod to the Australian Open, and a pink and purple horse sculpture a tip of the fascinator towards the spring racing carnival, other features of the launch had more tenuous links to the city.
<img src="/images/2014/08/21/26.jpeg" alt="">
Choreographed dancers wearing soldier and nurse costumes? A stretch.
<img src="/images/2014/08/21/3.jpeg" alt="">
A slick band seemingly swimming amongst a sea of gladioli? Not so sure…
<img src="/images/2014/08/21/2.jpeg" alt="">
Roller skating waiters eager to top up your glass of champers? I’ll roll with it.
The efforts certainly impressed attendees, including swimmer Michael Klim, singer Natalie Bassingthwaite and pyjama designer Peter Alexander. Property Observer also noted the attendance of The Block Glasshouse’s Darren and Dee.
However, Luhrmann was undoubtedly the star of the show. On a tour of the party, the director was mobbed by attendees, who had no doubt forgotten the nearly three hour ordeal that was Australia.
<img src="/images/2014/08/21/10625049_10152411629248640_3586282144434533793_n.jpg" alt="">
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Baz Luhrmann opens Melbourne's Emporium in a riotous glitzy affair

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Super Retail Group, owner of brands including Rebel Sport and Supercheap Auto, has reported a 5.6% jump in profits for 2014.
The retail group’s net profit after tax rose to $108.4 million, while revenue lifted by 4.6% to $2.11 billion.
Super Retail Group managing director and chief executive Peter Birtles said in a statement the result, while in-line with forecasts, reflected mixed performance across the group.
Birtles said the auto retailing division was an outstanding performer with around 10% growth, but the company’s leisure and sports retailing arms had lagged.
“In the leisure retailing division, the BCF business was impacted by a slowdown in sales in stores that had previously benefited from investment in the mining industry,” said Birtles.
“The sports retailing division had a solid start to the year but performance was impacted by inventory supply challenges resulting from the implementation of new merchandise and supply management systems in October and from a slowdown in customer demand following the federal budget and a warmer start to winter.”
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
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Super Retail Group reports 5.6% jump in profits

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Australia’s million dollar property club hit new heights this year in what can only be described as an explosion in the number of suburbs nationally with a median value in excess of $1 million over the past year.
Sales data to June 2014 confirmed that there are now 417 suburbs nationally which boast a median value of $1 million or more, up from a healthy 312 for this time in 2013.
While Sydney claimed majority market share to make it to the million dollar club with 22 suburbs ranked in the top performing list out of 25, while Perth had two suburbs and Melbourne had just one.
<img src="/images/2014/08/21/rp-data-aug-21-one.png" alt="">
RP Data’s July combined capital city home values index shows that values increased by 10.2% over the 12 months to July 2014. As a result of robust growth, the cost of housing has increased and subsequently, there was a significant increase in the number of suburbs with a median value of $1 million or more.
As at June 2014, there were 397 suburbs nationally with a median house value of $1 million or more and 20 suburbs for units. The 417 total suburbs with a median value of $1 million or more is the highest number over the past five years.  
The number of suburbs with a million dollar price tag for houses increased by 104 over the past year while for units; the number is up by five. New South Wales in particular recorded the most substantial increases in million dollar suburbs over the past year.  
The number of New South Wales suburbs with a median value of $1 million or more is up 42% over the year.  Across the other states, there’s been a 24% rise in Victoria, 25% rise in Queensland, 44% rise in South Australia, 22% rise in Western Australia, no change in the Northern Territory and a -11% fall in the Australian Capital Territory. Tasmania has zero suburbs with a median value of $1 million or more.  
The large rise in the number of suburbs with a median value of $1 million or more in New South Wales is reflective of the strong home value growth in the Sydney over the past year.  
Over the 12 months to July 2014, Sydney home values have increased by 14.8%. Proportionately, Sydney suburbs comprise 61% of all $million plus suburbs nationally followed by Melbourne at 14% and Perth at 12%.
Of most significance from today’s million dollar findings, is the rise in the number of suburbs with a median value of more than $2 million. Last year 37 suburbs had a median value of $2 million or more while in June of this year, the number of suburbs had increased to 42.
Clearly, low mortgage rates are creating a surge in market activity. This encourages people to look to upgrading to bigger homes and in more ideal locations. We’re seeing a large slice of this activity taking place within the higher-end of the housing market and as a result, propelling home values higher and into the million dollar realm.
Looking at the suburbs with the highest national median value, Sydney’s <a href="/news">Point Piper</a> remains as the nation’s most expensive housing market.  As at June 2014, houses in Point Piper had a median value of almost $5.7 million. <a href="/news">Woolwich </a>in Sydney was not far behind with a median value of $5.5 million.
Of the 25 suburbs with the highest median value, all suburbs listed were for houses rather than units.  Twenty two of the 25 suburbs listed were in Sydney with one in Melbourne and two in Perth.  
<img src="/images/2014/08/21/rp-data-aug-21-two.png" alt="">
The results show that higher values, particularly in Sydney is becoming more prevalent.  With mortgage rates low and tipped to remain low we would expect that in 12 months’ time we will have even more suburbs with a median value of $1 million or more.  Although we anticipate the rate of value growth is likely to slow over the coming year, we do expect further increases.
A rise in suburbs with a million dollar plus price tag is great for those who own a home in these areas. For those that don’t, it highlights that these buyers have fewer housing options and continue to be pushed further away from the city centre where most of these homes in excess of $1 million are located. 
Photo courtesy of Wikimedia Commons.
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