Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Joel Robinson

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

Darwin

<html><body>
A 2018 study by Herron Todd White (commissioned by the Property Council of Australia) found that there was about 220,000 square metres of general retail space in the greater Darwin area.
They found that this figure includes properties varying from neighbourhood style centres of two to three shops through to regional retail centres such as Casuarina Square. Of this 220,000 square metres, about 68,000 square metres (or 30 per cent) has come on line in the past two to three years.
HTW valuers said, "unfortunately, this large increase in supply has come on line at a time when Darwin’s population is experiencing a significant decline, with the weaker economy seeing many Darwinites heading interstate in search of work."
"What we have seen has been a drift of businesses to these newer centres, attracted by strong tenant incentives and a desire to follow the ant trail of shoppers."
"As a result of this displacement, vacancies have sprung up, particularly in Darwin CBD and Palmerston CBD. It is difficult to see trading conditions improving in these locations until the population begins to increase," they added.
It is expected that there will be limited rental and capital growth opportunities in Darwin retail centres, especially secondary centres without a major anchor, for the next three to five years, HTW forecast.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Darwin retail sector suffers from declining population: HTW Retail

<html><body>
Most of Australia’s capital cities will benefit from the interest rate cuts and loosening of credit restrictions barring Dawin, according to Christopher’s Housing Boom and Bust Report for 2020, released today by SQM Research.
In every scenario and especially Scenario 4, a doomsday scenario, Darwin is expected to see a decline in price.
Darwin is expected to see price movements of -5% to -2%.
<img src="https://gallery.mailchimp.com/9badbd870addb4af72206c2eb/images/4df1a5ab-58ab-48eb-be7c-da10730ccd12.png">
Darwin is the only capital city expected to record price declines.
It is a result of the Darwin economy continuing to struggle and excess stock for sale weakening the local market.
In the base case forecasts, what SQM view as the most likely scenario, there are no changes in interest rates and no intervention by the Australian Prudential Regulation Authority (APRA).
<a href="/expert-insights/buying/sydney-house-prices-could-jump-14-per-cent-in-2020-sqm-research">Sydney</a> and <a href="/expert-insights/buying/melbourne-house-prices-tipped-to-rise-by-up-to-15-per-cent-sqm-research">Melbourne</a> look set for the largest recovery, with Hobart and Canberra next up, followed by <a href="/expert-insights/buying/perth-real-estate-finally-set-for-price-growth-in-2020-sqm-research">Perth</a> and <a href="/expert-insights/buying/brisbane-housing-market-will-see-growth-in-2020-sqm-research">Brisbane</a> while Adelaide and <a href="/expert-insights/buying/darwin-the-only-city-forecast-for-falling-real-estate-prices-in-2020-sqm-research">Darwin</a> look set for minimal growth, or a loss.
Read the <a href="https://sqmresearch.us5.list-manage.com/track/click?u=9badbd870addb4af72206c2eb&amp;id=944878d0b0&amp;e=0aab96dc54" target="_blank" data-auth="NotApplicable">Christopher’s Housing Boom and Bust Report</a> here.
</body></html>

Darwin the only city forecast for falling real estate prices in 2020: SQM Research

<html><body>
The Darwin property market, on the back of a sustained period of contraction from 2016 onwards, is still suffering across all facets of the residential market and the investor segment is no different, according to a recent Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation. 
The report suggests several factors directly affecting this range from the tightening lending practices aimed at interest only loans, contraction of capital values, population decrease and a general oversupply of both unit and dwelling stock.
These aspects are troubling however it is a general consensus among all professionals in the property industry that a dramatic correction needed to occur to cool off the over inflated house prices and rentals.
For standard dwellings, rental yields generally sit at 4.6%, according to the REINT, which is slightly above the average seen in other Australian capital cities.
During the peak period of the recent mining boom, high rents on corporate long-term leases reflected yields of 7% to 8% which were driving strong investor demand.
"Since this period, we have seen a dramatic contraction in terms of annual returns and a greater chance of minimal capital growth," the valuation firm said. 
"Investor activity in this segment as a result has dramatically declined, with a small percentage of investors taking up the Defence Housing sale and leaseback scheme."
The scheme offers a long term nine-year plus three-year term at a yield of 5.2%.
This guaranteed income provides an attractive option where vacancy rates and the possibility of rental price weakening may be a determining factor.
The trade-off is a high management fee of 16.5%.
With regard to unit stock, traditionally investor activity in Darwin has been directly linked to large gas and mining projects requiring accommodation for transitory workers.
These long-term leases with attractive yields have certainly diminished with the completion of the construction phase of the Ichthys Inpex Gas Project in late 2018.
"This type of investment did achieve quite high yields, however obviously at higher risk," the valuation firm stated. 
The median unit price in Darwin now sits at $325,000 which is 15% lower than mid-2018 however the transaction levels have improved by a similar percentage.
These factors may indicate there is some faith returning to this section of the market.
With every situation, there is a silver lining and generally low capital values present many opportunities for investors looking to purchase in the Territory.
In addition, latest results for residential dwellings across the entire Darwin market have shown a stable median price of $500,000 (from mid 2018) which does indicate the market is slowly returning to a healthier state.
This is mirrored in transaction volumes improving slightly by 5% from June 2018, according to REINT.
"For investors looking to take advantage of weak prices, the Darwin CBD has the most options available," the valuation firm commented. 
Dated one-bedroom stock can be purchased from the early $100,000 mark which is almost half the price at the peak of the market in 2014.
An entry level unit of this type would typically rent for $230 per week which translates to an extremely attractive gross rental yield of 9.5%.
At a step slightly higher in value, a recent three-bedroom, two-bathroom sale of a semi-modern inner city unit in Stuart Park sold for $265,000.
This unit sold with a gross rental yield of 7.8%, a strong indication that there are opportunities for investors to get a solid return on investment.
These returns in the private sector are subject to market movement and susceptible to the particular terms of the landlord and tenant, factors which must be taken into account.
These types of leases are typically for periods of one year, with management fees of around 8% to 12% per annum.
"So how does Darwin fare for investors? Looking purely at returns, Darwin does offer attractive options being on average slightly stronger than the other capital cities (source: Core Logic, April 2019)," the valuation firm said. 
"The economic downturn has made a significant change in the property landscape, greatly decreasing values across the board and therefore increasing the opportunity for a good buy.
"Coupled with traditionally strong rentals, we do consider Darwin a good place for investors if they are willing to put the time and effort into researching the prospective purchase.
"Southern investors wishing to chase a capital return may face some dilemma however, with limited growth expected in the short to medium term." 
</body></html>

Darwin residential market slowly returning to a healthier state: HTW residential 

<html><body>
Over the June 2019 quarter, resales of Darwin properties generated $25.7 million in profits and $15.6 million in losses, according to the latest findings from CoreLogic's Pain &amp; Gain report.
Based on these figures, Darwin generated 0.2% of national profit and 2.1% of the total value of losses.
<img src="https://www.urban.com.au/images/2019/10/29/Resales%20HOB%201.JPG" alt="">
Each region of the city has recorded a high proportion of resales at a loss with at least one in two resales over the quarter in Darwin and Palmerston at a loss, while around one in five resales were at a loss in Litchfield.
The share of units resold at a loss recorded a steady rise over the quarter while there was a slight drop in the share of houses resold at a loss.
Click <a href="https://www.propertyobserver.com.au/images/2019/10/29/Resales%20HOB%202.JPG" target="_blank">here</a> to enlarge:
<img src="https://www.urban.com.au/images/2019/10/29/Resales%20HOB%202.JPG" alt="">
The Pain &amp; Gain report also examined other Australian capital cities like <a href="/news/wa/quarter-of-australias-loss-making-property-resales-occurred-in-perth-corelogic-pain-gain-report">Perth</a> and <a href="/news/tas/hobart-property-resale-losses-remain-low-despite-market-slowdown-corelogic-pain-gain-report">Hobart</a>, as well as trends such as <a href="/expert-insights/investing/investors-more-likely-than-owner-occupiers-to-resell-property-at-a-loss-corelogic-pain-gain-report">investors being more likely to resell property at a loss than owner occupiers</a>.
</body></html>

50% of Darwin resales made a loss: CoreLogic Pain & Gain Report

<html><body>
Over the June 2019 quarter, resales of Darwin properties generated $25.7 million in profits and $15.6 million in losses, according to the latest findings from CoreLogic's Pain &amp; Gain report.
The market also recorded $269.5 million in realised profits which accounted for 1.6% of profits nationally.
<img src="https://www.urban.com.au/images/2019/10/29/Resales%20DAR%201.JPG" alt="">
Over the quarter, the share of houses resold at a loss increased while the share of unit resales at a loss rose. 
Click to<a href="https://www.propertyobserver.com.au/images/2019/10/29/Resales%20CAN%202.JPG" target="_blank">here</a> to enlarge<a href="https://www.propertyobserver.com.au/images/2019/10/29/Resales%20CAN%202.JPG" target="_blank"></a>
<img src="https://www.urban.com.au/images/2019/10/29/Resales%20CAN%202.JPG">
The Pain &amp; Gain report also examined other Australian capital cities like <a href="/news/wa/quarter-of-australias-loss-making-property-resales-occurred-in-perth-corelogic-pain-gain-report">Perth</a> and <a href="/news/tas/hobart-property-resale-losses-remain-low-despite-market-slowdown-corelogic-pain-gain-report">Hobart</a>, as well as trends such as <a href="/expert-insights/investing/investors-more-likely-than-owner-occupiers-to-resell-property-at-a-loss-corelogic-pain-gain-report">investors being more likely to resell property at a loss than owner occupiers</a>.
</body></html>

Canberra resales at a loss on the rise: CoreLogic Pain & Gain Report

<html><body>
There are fundamental factors one must address when purchasing a property, including location, configuration, construction type, size and proximity to local amenities, according to a recent Herron Todd White (HTW) residential report. 
The report suggests Northern Territory residential market is no different. Arguably in its weakest state for years, there is ample opportunity in all aspects of the Darwin residential market.
"With the population outflow following the wind down of several mining projects still continuing, the Northern Territory is approaching what could be considered towards the bottom, however there are some signs of gradual improvement in the form of house prices largely stabilising and an increase in the number of approvals," the valuation firm said 
Rental yields are as strong as ever coupled with interest rates at a historical low of 1.25%. Darwin property remains attractive for investors and home buyers alike.
Looking specifically at the Darwin CBD and inner- city suburbs, units are currently at some of the lowest prices seen in the past 15 years. This type of property would greatly appeal to first home buyers looking to first enter the market and wishing to be close to the city.
The report notes an entry level option available starts at approximately $150,000 for a dated one-bedroom studio apartment located in the CBD.
At a slightly higher price point, two-bedroom, one-bathroom units can start from $250,000. These units are generally the primary configuration for apartment style accommodation and provide adequate living space for small families, couples and singles.
A two bedroom unit opposite the water in Nightcliff has been sold for $270,000.
The <a href="https://www.realestate.com.au/sold/property-unit-nt-nightcliff-131587722" target="_blank">5/144 Casuarina Drive </a>unit (pictured below) comes with two bedrooms, one bathroom, internal laundry and courtyard.
It's walking walking distance to cafes and community facilities. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/25/nightcliff%20.jpg" alt="">
This area is well serviced by schools, shopping facilities, restaurant amenities and within close proximity of major social events.
The report suggest for prestige or higher end buyers in this segment, a modern three-bedroom unit can be purchased for $550,000, ranging up to $1 million for a penthouse apartment in the highly sought after location of the Esplanade.
"This luxury level segment of the market is characterised by expansive ocean views over Darwin Harbour and all the amenities of the Darwin CBD," the valuation firm said.
Moving towards the suburbs on the fringe of the CBD, semi-detached units such as townhouses are far more common. This type of property offers the benefit of a small yard and land on title for families that require extra space for growth.
Suburbs such as Parap and Stuart Park have entry level semi- detached units beginning at $330,000.
Dwellings with large residential allotments between 800 and 1,300 square metres are also available.
The report suggests entry level dwellings in this segment can be purchased from as low as $450,000 in Ludmilla to approximately $600,000 in the more popular Stuart Park.
These types of properties are generally dated, three bedroom configurations and constructed circa 1970s and 1980s, offering opportunities for those looking to renovate whilst staying within close proximity of the city.
The highest end section of the Darwin market is evident here, with ocean- side suburbs such as Fannie Bay, Larrakeyah and Bayview.
A pre-Cyclone Tracy dwelling of standard three to four bedroom, one-bathroom configuration begins at approximately $600,000 in Fannie Bay.
A there bedroom villa at<a href="https://www.realestate.com.au/sold/property-villa-nt-fannie+bay-131042182" target="_blank"> A/3 Hinkler Crescent, Fannie Bay </a>(pictured below) has been recently sold for $865,000. 
The ground floor villa comprises three bedrooms, study, large living/dining area, double garage and tropical garden.
It's close to East Point nature reserve, primary school and high school. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/25/fannie%20bay.jpg" alt="">
On the other end of the spectrum, house prices can reach up to $1.6 million in the same suburb.
"These prestige dwellings are erected on large allotment sizes and are fully renovated or built to a high quality," the valuation firm said. 
Cullen Bay, Larrakeyah’s prestige segment on the marina, also comprises similar quality dwellings in a comparable price range. This location is serviced by several restaurants in the Marina and enjoys ocean views and direct marina access.
Within a short driving distance of the Darwin CBD, Cullen Bay offers many features which secure its spot in the prestige section of the Darwin market.
The next suburb segment, the northern suburbs, comprises the majority of the Darwin residential properties.
First looking at units, the north coastal section contains the majority of apartment style living.
Suburbs such as Coconut Grove, Nightcliff and Rapid Creek are all within close proximity of the ocean, a key factor when purchasing a unit in this locality.
Higher values are attributed to those with views over the Foreshore. An attached two-bedroom unit in this area can be purchased from approximately $350,000, depending on its views and proximity to the water.
"This part of the market is experiencing a sustained drop in both sales volumes and prices, with a substantial over- supply and lack of demand," the valuation firm noted. 
Rental yields remain high at approximately 6.6%, however, this reflects the higher risk associated with the market and an elevated vacancy level.
Again, this is a reflection of the overall soft conditions of the market and general population decline in Darwin. We expect this sector to lag behind the detached housing market in terms of stabilising and see some tough times still ahead in 2019.
For dwellings, a standard ex-government housing three-bedroom dwelling can be purchased from $590,000. These dwellings come in ground level and elevated construction types and at this price point, are quite dated.
This area is well serviced by schools, shopping and local sporting facilities such as the Marrara sporting complex.
Further inland, the bulk of the northern suburbs is made up of standard three-bedroom one-bathroom dwellings constructed in the 1980s.
Allotment sizes are of an adequate 800 square metres, with the exception of the newer suburbs Lyons and Muirhead.
The price point for an average detached house in this segment is $450,000.
At this price, the dwelling would generally be ground level, partly updated and likely to have a pool or spa.
An entry level semi-detached two-bedroom unit can be purchased for approximately $200,000 in the suburb of Karama.
The northern suburbs have a significant amount of services available such as sporting facilities, schools, the Casuarina shopping precinct and the Royal Darwin Hospital which makes this area ideal for young families or first home buyers looking to enter the housing market.
Palmerston City is the last locality on our agenda, located 21 kilometres from Darwin comprising 18 suburbs.
Recently known as the fastest growing city in Australia, Palmerston offers substantially more affordable housing options for those willing to live away from the ocean.
An entry level two bedroom unit can be purchased for $175,000 in Woodroffe, while a three-bedroom dwelling of similar calibre in Moulden can be obtained for $240,000.
At the prestige end of the market, the suburbs of Farrar, Durack and Zuccoli offer the best choice.
For approximately $750,000, a modern four-to-five bedroom property on the Palmerston Golf Course can be purchased in Durack.
This area is serviced by the newly built Gateway Shopping Precinct, schools and parklands and is within a short drive of downtown Palmerston.
"When regarding fundamentals of a home, location, configuration and quality are all important factors at the right price point. However, knowing the vendor is another key factor in terms of reaching a successful sale.
"In this current softened market, potential purchasers are in an excellent position to take advantage of the excess supply across all segments of the market. With vendors now acknowledging the new lower price points, an increase of transactions can be expected, however we expect this weak state to continue in the short and medium term," the valuation firm said. <img src="blob:https://www.urban.com.au/fc53f393-69e7-4736-8a84-6d903625c127" alt="page63image3783792" width="0.500000" height="0.500000" style="font-size: 12.16px;"> <img src="blob:https://www.urban.com.au/ba7ef730-5880-4a62-9d4d-7181babff10c" alt="page63image5831440" width="0.500000" height="0.500000" style="font-size: 12.16px;"> 
</body></html>

Knowing the vendor is a key factor in Darwin property market investment: HTW residential 

<html><body>
Rental yields in Darwin have grown 0.2% over the year, reaching 6% from 5.8% in 2018, according to the latest data from CoreLogic.
They found that while rents softened over the past month, rental rates increased in all capital cities other than in Sydney, where rental yields are the tightest, and Perth over the past year. 
Gross rental yields for units in Darwin are even higher at 6.8%. Plus the median value of a unit in Darwin is the lowest out of any capital city, sitting at $289,687.
It is $32,495 less than the second lowest Adelaide, $322,142.
Overall, the weakest market conditions continue to be seen in Darwin and Perth, where values dipped further over the month, although the three month trend in both cities is suggesting an improvement in the rate of decline.
Darwin dwelling values are now 30.7% below their May ’14 peak.
However despite these figures Tim Lawless said: “with mortgage rates low, and likely to reduce further, as well as low yields across most asset classes, lower rental yields aren’t likely to be much of a disincentive to investors.”
<img src="https://www.urban.com.au/images/2019/9/9/Darwin%20rental%20Yields%202.JPG" alt="">
An example of Darwin's high rental yields is <a href="https://www.realestate.com.au/sold/property-unit-nt-darwin+city-131597062" target="_blank">84/21-23 Cavenagh Street, Darwin City</a> (pictured above) which was listed in March 2018 for $290 per week.
Last sold in August 2019 for $148,000, the yield for the property is calculated as 10%.
</body></html>

Darwin home to Australia's highest rental yields

<html><body>
Darwin has experienced a few tough years and the weakening trend continued into 2019, according to a recent Herron Todd White (HTW) residential report. 
"The peak of the market (2013-2014) which was mainly inflated by the Ichthys gas project was going to end at some point and we are now experiencing the aftermath," the valuation firm said. 
"Since the start of the year, we have seen declines in both sales and median price for all suburbs across Darwin (REINT).
"All markets have been hit, from residential to commercial, dwellings to units and the suburbs of Parap to Darwin River." 
The weak market has been foreseen for some time now and it is now believed that home owners are coming to the realisation that their homes are not worth what they perceive.
The report notes this has been a difficult process and caused stress throughout the market and wider economy.
"We have seen some big reductions, especially in the Darwin CBD," the valuation firm added. 
There has been a 40% fall in the median unit and townhouse price from $565,500 in March 2015 to $330,000 in March 2019, according to the REINT.
Also looking Palmerston way, the suburb Moulden has experienced some big reductions; recent analysed sales of dwellings show a drop in the order of 30% or more from 2013/2014.
"Be that as it may, we should not be discouraged by the current state of the market," the HTW report said. 
"Unfortunately, it is a reality that we are seeing some heavy reductions but to put things into perspective, we need to take a look at Australia as a whole."
<a href="https://www.propertyobserver.com.au/images/2019/8/20/abs%20.jpg" target="_blank">Click here</a> to enlarge: 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/8/20/abs%20.jpg" alt="">
According to the Australian Bureau of Statistics (ABS), the latest release shows new lending for investment dwelling in Australia is at its lowest since 2011.
Additionally, lending for purchase or construction of a new home in Australia has fallen to its lowest level since 2013.
Lending to households has decreased year on year by 17.8% in the Northern Territory (ABS). 
Victoria and New South Wales have also both dropped year on year, 15.4% and 18.9% respectively.
There has been a downturn in nearly all states, with the only exception being Tasmania.
"The silver lining is that we are now in a period of market affordability; the dream of owning a home or unit is now realistic for Territorians," the valuation firm said.
"As mentioned earlier, we are seeing home owners slowly accepting the very weak property market. This is reinforced by looking at the recent statistics for the northern suburbs.
"Although sales are decreasing, we are seeing prices stabilising to only minimal decreases.
"It is only our opinion and we can only speculate that it means people will only sell if it is their last option, if not, they are holding onto their properties for a better market and thus price," the report said. 
The rental market has steadied in recent times and popular locations are still easily rented.
A current listing on the rental market is a three bedroom unit (pictured below) priced at $600 per week.
Situated at<a href="https://www.realestate.com.au/property-unit-nt-darwin+city-427254510" target="_blank"> 48/96 Wood Street, Darwin City</a>, the unit comprises three bedrooms, open plan living/dining, large store room and two secure car parks.
The building features swimming pool and communal gym. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/8/20/darwin%20city.jpg" alt="">
"We need to remember during these tough times the old saying 'you only lose if you sell'," HTW said. 
"However if you must sell, we are seeing well-presented properties still high in demand, so be sure to present your home in good condition, have neat and tidy landscaping and make sure there are no small works required by the potential buyer." 
Since the start of 2019, there have been plenty of things done to pave the way to a more positive market.
"The government has introduced new inventive schemes (Territory Home Owner Bonus) and construction of new buildings in Darwin (new four-level below ground car Park) and Palmerston (police station). We also note the interstate relocation schemes (Welcome to the Territory incentives) introduced in August 2018 will also make a positive impact in 2019.
"To end things off, we have seen land prices increase in the Palmerston suburb of Zuccoli (specifically the Aspire development). This increase came as a surprise to us but it is showing that the supply of land is not meeting demand and ultimately this can be seen as evidence that the government incentive program is playing its role.
"There is a lot happening to kick start the economy and our office remains positive that there will be a brighter market; it will just take time for the government schemes to take full effect." 
</body></html>

Weakening trend continues in Darwin residential market: HTW residential 

<html><body>
Darwin house prices have been falling since 2014/15 as resource sector investment has also fallen away, impacting on employment, migration and population growth.
According to the BIS Oxford Economics Residential Property Prospects 2019 to 2022 report, the market is estimated to be currently in oversupply with high vacancy rates. 
Affordability has now become very attractive, the report said.
However, without a strong turnaround in the economy or the demand/supply balance, only moderate house and unit price growth of 7% and 8% respectively is forecast to June 2022.
The firm predicts that these gains will be mainly toward the end of this period as supply begins to tighten.
<a href="https://www.propertyobserver.com.au/images/2019/7/15/BIS%201.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/15/BIS%201.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/7/15/BIS%202.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/15/BIS%202.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2019/7/15/BIS%203.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/15/BIS%203.jpg" alt="">
</body></html>

Darwin market in oversupply with price gains a few years off: BIS Oxford Economics 

<html><body>
Darwin has experienced a few tough years and the weakening trend continued into 2019, according to a recent Herron Todd White (HTW) residential report. 
"The peak of the market (2013-2014), which was mainly inflated by the Ichthys gas project, was going to end at some point and we are now experiencing the aftermath," the valuation firm said. 
"Since the start of the year, we have seen declines in both sales and median price for all suburbs across Darwin (REINT)."
All markets have been hit, from residential to commercial, dwellings to units and the suburbs of Parap to Darwin River.
The weak market has been foreseen for some time now and it is now believed that home owners are coming to the realisation that their homes are not worth what they perceive.
This has been a difficult process and caused stress throughout the market and wider economy.
"We have seen some big reductions, especially in the Darwin CBD," the valuation firm noted. 
"There has been a 40% fall in the median unit and townhouse price from $565,500 in March 2015 to $330,000 in March 2019 (REINT).
"Also looking Palmerston way, the suburb Moulden has experienced some big reductions; recent analysed sales of dwellings show a drop in the order of 30% or more from 2013/2014."
A three bedroom apartment in the Darwin CBD has recently been sold at a reduced price of $330,000.
With views of the Darwin Harbour, the unit at<a href="https://www.realestate.com.au/sold/property-unit-nt-darwin+city-129170426" target="_blank"> 7/3 Harvey Street</a> (pictured below) include open plan living and dining area, private balcony, three bedrooms and kitchen with stone bench tops.
The complex comes with secure parking and pedestrian access. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/10/darwin%20city%201.jpg" alt="">
"Be that as it may, we should not be discouraged by the current state of the market," HTW said. 
"Unfortunately, it is a reality that we are seeing some heavy reductions but to put things into perspective, we need to take a look at Australia as a whole." 
According to the Australian Bureau of Statistics (ABS), the latest release shows new lending for investment dwelling in Australia is at its lowest since 2011.
Additionally, lending for purchase or construction of a new home in Australia has fallen to its lowest level since 2013.
Lending to households has decreased year on year by 17.8% in the Northern Territory (ABS).
This is a heavy drop but again, but comparative to other states. Victoria and New South Wales have also both dropped year on year, 15.4% and 18.9% respectively.
The report suggests there has been a downturn in all states with the only exception being Tasmania.
"We are not alone up here. The silver lining is that we are now in a period of market affordability; the dream of owning a home or unit is now realistic for Territorians.
"As mentioned earlier, we are seeing home owners slowly accepting the very weak property market. This is reinforced by looking at the recent statistics for the northern suburbs.
"Although sales are decreasing, we are seeing prices stabilising to only minimal decreases (REINT, March 2019). It is only our opinion and we can only speculate that it means people will only sell if it is their last option, if not, they are holding onto their properties for a better market and thus price."
The rental market has steadied in recent times and popular locations are still easily rented.
A fully furnished two bedroom unit in Darwin City is on the rental market with a price guide $430 per week.
Located in a secure complex, the unit at <a href="https://www.realestate.com.au/property-unit-nt-darwin+city-411774483" target="_blank">4/14 Dashwood Place</a> (pictured below) comprises open plan living, balcony, two bedrooms and two car parks.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/10/darwin%202.jpg" alt="">
"We need to remember during these tough times the old saying 'you only lose if you sell'," the report said. 
However if you must sell, we are seeing well-presented properties still high in demand, so be sure to present your home in good condition, have neat and tidy landscaping and make sure there are no small works required by the potential buyer."
Since the start of 2019, there have been plenty of things done to pave the way to a more positive market.
The government has introduced new inventive schemes (Territory Home Owner Bonus) and construction of new buildings in Darwin (new four-level below ground car Park) and Palmerston (police station).
"We also note the interstate relocation schemes (Welcome to the Territory incentives) introduced in August 2018 will also make a positive impact in 2019.
"To end things off, we have seen land prices increase in the Palmerston suburb of Zuccoli (specifically the Aspire development).
"This increase came as a surprise to us but it is showing that the supply of land is not meeting demand and ultimately this can be seen as evidence that the government incentive program is playing its role.
"There is a lot happening to kick start the economy and our office remains positive that there will be a brighter market; it will just take time for the government schemes to take full effect." 
</body></html>

Darwin

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Darwin

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News