New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

Joel Robinson

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

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.

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

Darwin

<html><body>
Demand for Darwin rental properties is booming, according to Raine &amp; Horne Darwin.
The agency said that the Darwin rental market is still above the 2% vacancy rate sweet spot achieved a few years ago, with vacancies running at more than 7%.
Rental days-on-market have fallen to an average of about 32 days in Darwin, according to Glenn Grantham, general manager, Raine &amp; Horne Darwin.
"Rental yields for Darwin houses have improved and are currently 5.1%, which is the highest in Australia,” he said.
Grantham said that the keys to securing a tenant in the Darwin market are presentation and sensible pricing.
“Vacancies are headed in the right direction, which is a good sign, however its means investors shouldn’t be complacent.”
</body></html>

j.ballantyne1990-6AQqhLzZaK

Darwin rentals in hot demand: Raine & Horne

<html><body>
Darwin is the slowest capital city to sell a property, according to CoreLogic’s latest report.
The property data firm says that the average time to sell a unit in Darwin is 113 days while a house can expect to sit on the market for 92 days.
Unsurprisingly, the city also has the nation's highest average vendor discount of 8.6% for units. Houses fair slightly better, requiring a 5.8% discount - lower than Perth's nation-leading 7.1%.
<a href="https://www.propertyobserver.com.au/images/2017/03/20/Screen%20Shot%202017-03-20%20at%201.05.15%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/03/20/Screen%20Shot%202017-03-20%20at%201.05.15%20pm.jpg" alt="">
This is in contrast to Sydney where it has the shortest time to sell a property.
It takes around a month for a house or a unit to be sold in Sydney.
A two bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nt-moulden-124708102" target="_blank">2/2 Orchid Court</a>, Moulden (above) was sold for $212,000.
Similarly, a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nt-muirhead-122012830" target="_blank">17 Hargrave Street</a>, Muirhead (below) was sold for $615,000.
<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/2017/03/23/17%20Hargrave%20Street.jpg" alt="">
Average vendor discounting for units in the Harbour City is also the equal lowest, at 3.8%, but it is the nation's capital, Canberra, which matches it for units and leads the way for houses (2.5%).
</body></html>

Darwin the slowest capital to sell a property: CoreLogic

<html><body>
Darwin takes the longest time to sell a property, according to CoreLogic’s latest report.
The property data firm says that the average time it takes to sell a house in Darwin is 107 days.
This is in contrast with Sydney which takes only 29 days to sell a house.
<a href="https://www.propertyobserver.com.au/images/2017/02/27/Screen%20Shot%202017-02-27%20at%2012.40.07%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/02/27/Screen%20Shot%202017-02-27%20at%2012.40.07%20pm.jpg" alt="">
Similarly units in Darwin takes 111 days to sell compared to 26 days for Sydney units.
</body></html>

Properties in Darwin takes the most time to sell: CoreLogic

<html><body>
Infrastructure projects are what have brought about spikes in the Darwin property market, according to HTW’s February 2017 update.
While the valuation firm says there isn’t a new large project which is likely to kick start the market, there are a number of smaller projects from the new Territory government, the Commonwealth government and from private enterprise that will simmer the market along.
“Defence projects in Darwin and Tindal, Palmerston Hospital, large retail centres and the Darwin Port with Landbridge will be some of the drivers in the local economy that will flow through to the residential space,” the report says.
“Jobs and employment always encourage residential investment in the Top End.
“We think that Karama and Malak are shaping as two hotspots for 2017.
“Entry level housing in these two northern suburbs is back under $400,000.
“We think that this is an excellent option for first home owners or upgraders coming out of a unit.
“While the property will require some work, it is an affordable alternative to a brand new home in competing suburbs, and whilst we as a society have turned to the brand new, shiny and hottest new thing there is something to be admired about starting with a smaller family project and slowly building from there.”
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nt-karama-124464894" target="_blank">44 Wearing Crescent</a>, Karama (above) has been listed for $425,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-nt-karama-123449526" target="_blank">34 Livistona Road</a>, Karama (below) has been listed for $399,500.
<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/2017/02/22/34%20Livistona%20Road-1.jpg" alt="">
</body></html>

jonathanchancellor-7SQnKwU6yx

HTW's top Darwin property hotspots for 2017

<html><body>
The residential property market in the greater Darwin region experienced a fairly difficult 2016 and there is not much to suggest a strong 2017 lies ahead, according to HTW’s February 2017 update.
The firms overall evaluation of the Darwin residential property market for the year ahead is that it will be a settling year lacking any great drivers for growth.
However, this may open up opportunities for investors and first time buyers.
“With interest rates at record lows it appears a good opportunity to tidy up an existing portfolio or enter the market for the first time,” HTW says.
The valuation firm says there are some early signs of a recovery may be underway that may make it a shrewd target for investors.
Sales volumes are starting to flow back into the market, construction levels of new apartments has eased, land supply appears to be slowing and rental and vacancy rates appear to have stabilised, the report says.
“Increased sales volumes and buyer activity have been seen through the established locations of the northern suburbs and Palmerston, along with entry level inner suburban locations in the final months of 2016.
“With stamp duty exemptions and FHOG introduced across all property types, we would expect this to continue through the early stages of 2017.”
This year also looks as though it will be a quiet year in comparison to the past decade for the Darwin CBD, HTW warns.
“As at early February 2017 there are a limited number of cranes in the CBD, with a very small number of projects in the construction pipeline.
“This will continue to stabilise the rental market by not dumping further supply into a relatively soft market.
“For the first time in a few years it will give the CBD an opportunity to have a breather and consolidate.”
A two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nt-darwin+city-124636170" target="_blank">P01/16 Harvey Street</a>, Darwin City (above) has been listed for $530,000.
Similarly a three bedroom unit at <a href="https://www.realestate.com.au/property-apartment-nt-darwin+city-124703602" target="_blank">129/19B Kitchener Drive</a>, Darwin City (below) has been listed for $799,000.
<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/2017/02/22/129_19B%20Kitchener%20Drive.jpg" alt="">
</body></html>

Darwin market conditions favouring first time buyers: HTW

<html><body>
Over the September 2016 quarter, 26.4 percent of  Darwin houses and 41.0 percent of Darwin units resold  for less than their previous purchase price, according to CoreLogic’s latest Pain and Gain report.
The property data firm says that the instances of loss-making resales have continued  to trend higher over the quarter from their previous record-highs.
The chart below relates to Darwin only losses in houses versus units.
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Corelogic-20.jpg" target="_blank">Click to enlarge</a>
<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/2017/01/30/Corelogic-20.jpg" alt="">
Across the council areas, Litchfield saw the lowest proportion of loss-making resales (17.4%) followed by: Darwin (31.7%) and Palmerston (33.9%).
<a href="https://www.propertyobserver.com.au/images/2017/01/30/Corelogic-21%20copy%202.jpg" target="_blank">Click to enlarge</a>
<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/2017/01/30/Corelogic-21%20copy%202.jpg" alt="">
</body></html>

Darwin property resales at loss highest in Palmerston: CoreLogic Pain and Gain

<html><body>
Darwin has a large oversupply of units relative to demand, according to Herron Todd White’s latest report.
The property advisory firm says that there has been an increasing trend in rental vacancy while the demand for new units has been very soft.
<a href="/images/2016/12/07/HTW%20-%20NT%20Units.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/07/HTW%20-%20NT%20Units.jpg" alt="">
However both the trend in new unit construction and volume of unit sales is declining.
This may be because Darwin’s unit market is declining while new properties are frequently sold at prices exceeding their potential resale value.
A recent sale at Darwin is at <a href="https://www.realestate.com.au/sold/property-apartment-nt-darwin+city-123558910" target="_blank">4/6 Foelsche Street </a>(above) which sold for $425,000.
</body></html>

Large oversupply of units in Darwin: HTW

<html><body>
A home in Darwin takes the longest time to sell across the capital cities, according to CoreLogic’s latest weekly report.
The property advisory firm says that the average home in Darwin can expect to take 146 days to sell.
<a href="https://www.realestate.com.au/property-house-nt-driver-123758086" target="_blank">A three bedroom Driver property</a> has been for sale since April. It has a $365,000 plus asking price. It was up for rent at $450 a week in July last year.
<a href="/images/2016/11/21/Capital%20city%20median%20time.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/21/Capital%20city%20median%20time.jpg" alt="">
This is compared to Canberra where a home will only be on the market for 24 days on average before being sold.
Units in Perth takes the longest time to sell with an average of 89 days on the market before it is sold compared to Sydney’s 27 days for a unit.
</body></html>

Homes in Darwin takes 146 days to sell: CoreLogic

<html><body>
The recent change of government with Labor taking hold of the reigns in the August election have improved conditions in Darwin for people trying to enter and exit the property market, according to Herron Todd White’s latest monthly market report.
The property advisory firm says that the past two years has seen Darwin’s property market continually slow with decreasing prices and lower sales volumes across the board.
First home buyers were only offered incentives for brand new properties in those two years and established properties subsequently received limited interest.
Since 1 September the market has sprung to life again as the new first home owner incentives for existing properties came into play.
First home buyers are now eligible for up to $24,000 in stamp duty concessions, with the first $500,000 of the purchase being stamp duty free and the incentive being capped at $650,000.
As many of the properties now being targeted by first home buyers will be relatively old, a further incentive of $10,000 to be utilised for renovations including up to $2,000 on household goods will further encourage people to buy existing properties. The incentive of $26,000 for building or buying a new property remains in place.
The new concessions have only been effective for three weeks and agents are reporting increased activity with numerous contracts executed in the short existence of the initiative.
"Many prospective purchasers were waiting to see the election results before making any serious offers and have been quick to take advantage of the new benefits, some fearing it might push prices back up, particularly at the entry level," the report noted.
As the incentive is capped at $650,000, all established properties on the market under that range are expected to attract more interest.
One example would be a three bedroom home at <a href="https://www.realestate.com.au/property-house-nt-darwin-122535794">20/12 Dashwood Place</a> that is for sale for $575,000.
The northern suburbs in particular will be a popular area for young buyers and all the older Palmerston suburbs should benefit also.
Herron Todd White noted how the scheme might affect the property market.
"The biggest loser from the scheme may be the already suffering new estates, as new home buyers will now shift away from building and focus on the established market. particular Zuccoli and Muirhead are the two estates with the most land left to release and project builders may have to bring their build contract prices down to compete with existing stock.
The increased activity in the market will help move properties quicker and the flow on effect will help people buy up an asset class from their existing property.
HTW still thinks there are still many negative economic factors surrounding Darwin and as the population continues to fall the basic supply and demand principles would suggest that prices won’t be drastically spiked by these new incentives.
"The greatest benefits will be more sale transactions, shorter marketing periods and more opportunities for people to enter the property market."
</body></html>

Darwin property market may improve with new first home buyer scheme: HTW

<html><body>
Darwin’s satellite suburb of Palmerston is poised to attract a wave of investors, who might compete with first-home buyers, due to impressive yields.
A case in point is Palmerston suburb Zuccoli.
“It’s possible to buy some land and build a three-bedroom house for $450,000 in new Palmerston suburbs such as Zuccoli,” said Glenn Grantham, general manager, Raine &amp; Horne Darwin.
The real estate firm is selling land in the Zuccoli Aspire development on behalf of Costojic, a partnership between developer Costa Property and local firm Ostojic.
“If you are a first time buyer and have a $26,000 first homeowner’s grant to spend on a new property, then Zuccoli continues to look very attractive.”
Grantham said some properties in Zuccoli can earn rents of up to $600 a week, or a healthy gross yield of 6 percent.
“Moreover, some of the builders offering house and land packages in Zuccoli have completion valuations indicating their homes would sell in the market for $530,000.”
“We have just released another 200 blocks at Zuccoli Aspire, which are selling from $135,000, and we expect investors, especially those from Sydney and Melbourne, to jostle with first home buyers in the race to snap up these very affordable blocks,” said Grantham.
 <img src="/images/2016/10/06/Zuccoli.jpg" alt="">
The return of interstate investors to markets such as Palmerston is not unexpected, according to Grantham, as Darwin’s rental yields compare favourably with other capital cities.
“Our median prices are many hundreds of thousands of dollars cheaper than Sydney and the smart interstate money is recognising there is more to Darwin than mining and resources,” he said.
“Darwin has a diverse economy that has a good spread of government businesses, as well as robust defence and tourism industries. 
He cited that visitor nights – both domestic and international – rose by 24 percent in financial year 2015/16, illustrating Darwin’s growing tourist appeal. 
“Combine the city’s growing economic diversity with real estate affordability and strong yields, and Darwin real estate will be on the radar for investors again in 2017.”
</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