<p>New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.</p>

<p>It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.</p>

<p>With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.</p>

<p>The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.</p>

<p>Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=372394]</p>

<p>Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.</p>

<p>"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.</p>

<p>"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=953]</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.</p>

<p>Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.</p>

<p>That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=925]</p>

<p>Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.</p>

<p>Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.</p>

<p>"The Lennox is where aspirational living becomes attainable," Hamblett said.</p>

<p>"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."</p>

<p>Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.</p>

<p>"At The Lennox, lifestyle is not an afterthought, it is the foundation."</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=5374]</p>

<p>The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.</p>

<p>Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.</p>

<p>That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.</p>

<p>"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."</p>

<p>[smartcode_project_cta:default project_id=5743]</p>


Joel Robinson

The apartment price gap drawing Sydney buyers west

<p>A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.</p>

<p>The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.</p>

<p>The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.</p>

<p>The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.</p>

<p>Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.</p>

<p>"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.</p>

<p>"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."</p>

<p><img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" /></p>

<p>Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.</p>

<p>Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.</p>

<p>Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.</p>

<p>"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.</p>

<p>"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."</p>

<p>Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.</p>

<p>Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.</p>


Rainbow Bay apartment doubles in price since off the plan sale during pandemic

<p data-end="315" data-start="85">The long-planned transformation of Brisbane's historic Shafston Estate has taken another major step, with Capella Hotel Group announced as the luxury hospitality partner behind what will become Brisbane's first branded residences.</p>

<p data-end="499" data-start="317">The project, to be known as <strong data-end="376" data-start="345">Capella Residences Brisbane</strong>, is being delivered by Verso Projects at the landmark Kangaroo Point riverfront estate, with completion targeted for 2029.</p>

<p data-end="899" data-start="501">The announcement follows a series of planning changes to the project over recent years. The site was originally approved in 2023 for a 15-level, 37-apartment development designed by Rothelowman for Burgundy Group before Verso Projects took over the 10,070 sqm riverfront holding and lodged revised plans with Kerry Hill Architects to increase the development to a 25-level tower with 51 apartments.</p>

<p data-end="1154" data-start="901">The latest announcement confirms Capella Hotel Group will bring its branded residential offering to the project, marking just the second Capella Residences development globally after Seoul, and the group's first branded residential project in Australia.</p>

<p data-end="1387" data-start="1156">The <a href="https://www.apartments.com.au/new-apartments/23-castlebar-street-kangaroo-point-qld-4169">Castlebar Street development</a> will centre around the restoration of the heritage-listed Shafston House, one of Brisbane's oldest residences, originally constructed in 1851 by Reverend Robert Creyke as a single-storey cottage known as Ravenscott.</p>

<p data-end="1387" data-start="1156"><img alt="Capella" data-entity-type="file" data-entity-uuid="2b9f4ce5-638f-4d6b-8082-3ca7e4b75fca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-09%20at%207.20.41%E2%80%AFAM.png?VersionId=f7aeqsW_DzOJI4FymWb3lD8NptSfsP7q" /></p>

<p data-end="1611" data-start="1389">Capella said the project aligns with its focus on heritage-led developments, with the Brisbane estate combining the restored historic residence with a new luxury apartment tower and hospitality-inspired resident amenities.</p>

<p data-end="1823" data-start="1613">Residents will have access to the Capella Living Room, a concierge-led communal space inspired by the group's luxury hotels, alongside landscaped gardens, six swimming pools, wellness and recreation facilities.</p>

<p data-end="2042" data-start="1825">The broader estate will also include two riverfront homes, a six-berth private marina, porte cochère arrival experience, secure basement parking and a new section of public riverwalk along the Brisbane River frontage.</p>

<p data-end="2177" data-start="2044">The heritage Postal Depot Building will also be retained and repurposed as a guest house, in line with the revised development plans.</p>

<p data-end="2420" data-start="2179">The project represents another evolution for the site, which Kerry Hill Architects previously described as a rare opportunity to restore one of Brisbane's most significant heritage estates while creating a new benchmark for apartment living.</p>

<p data-end="2724" data-start="2422">"The Shafston Estate provides a once-in-a-generation opportunity to restore one of Brisbane's finest heritage precincts and to reinstate residential use as a unique site perched on the edge of Kangaroo Point," Kerry Hill Architects said in its Urban Context Report accompanying the planning submission.</p>

<p data-end="2858" data-start="2726">"The project will celebrate excellence in sub-tropical residential design, setting a new benchmark for vertical living in Brisbane."</p>

<p data-end="3130" data-start="2860">Verso Projects, which now has an $8.5 billion development pipeline spanning more than 6,000 dwellings across apartments, townhouses, retail and commercial projects, said the partnership with Capella would elevate the development beyond a traditional residential project.</p>

<p data-end="3415" data-start="3132">"We feel honoured to be restoring Shafston Estate to its former glory, elevating it to new heights of luxury and excellence underpinned by Capella's distinctive service ethos and design philosophy, and making it a standout landmark in Brisbane," Verso Projects CEO Steve Laffey said.</p>

<p data-end="3658" data-start="3417">"By partnering with Capella, globally recognised for its refined approach to luxury hospitality and deep respect for cultural and historical context, we will elevate this project beyond a residential offering into a world-class destination."</p>

<p data-end="3820" data-start="3660">Capella Hotel Group President Roland Fasel said Brisbane's emergence as a global city made it the right location for the company's Australian residential debut.</p>

<p data-end="3961" data-start="3822">"Brisbane is a city on the cusp of something remarkable, and Capella Residences is our commitment to being part of that story," Fasel said.</p>

<p data-end="4083" data-start="3963">"The Capella residential experience is more than luxury. It is about a sense of belonging to a place with deep meaning."</p>

<p data-end="4227" data-start="4085">Private appointments have now opened for the project, with a display suite expected to open in late 2026 ahead of the planned 2029 completion.</p>


Capella to launch Brisbane's first branded residences at Shafston House, Kangaroo Point

<p>Lewis Land's latest apartment release within its <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan is targeting one of the Gold Coast's fastest-growing buyer groups, with almost a third of apartments at Solis priced below $1 million.</p>

<p>The seven-storey building at Biggera Waters will comprise 91 apartments, including 24 one-bedroom residences starting from $778,000, a price point Lewis Land says is aimed squarely at first home buyers struggling to enter the Gold Coast market.</p>

<p><img alt="Harbour Shires" data-entity-type="file" data-entity-uuid="e7486e37-22f6-4c92-b212-9b0622070b8f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.34%E2%80%AFAM.png?VersionId=W8MJwJUCf6HkIyl_EVSksnd.QI6MZryY" /></p>

<p><a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the developer deliberately allocated a significant proportion of the project to more affordable apartment types.</p>

<p>"First home buyers have been priced out of many parts of the Gold Coast, and we saw a clear opportunity to address this and play our part in a longer-term housing solution," Long said.</p>

<p>"That's why 24 of the 91 apartments being delivered at Solis have been designed and priced for the city's next generation of homeowners, quality one-bedroom apartments, half of which include an additional multipurpose room to maximise space and flexibility.</p>

<p>"This approach places 30 per cent of apartments in Solis under $1 million, and with close proximity to Harbour Town's future light rail extension connecting residents to the city's major employment and knowledge hubs, it's a win for buyers looking to secure their first property."</p>

<p><img alt="Sores" data-entity-type="file" data-entity-uuid="550526d3-73ba-4710-9739-c5f4294a30ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-08%20at%209.09.29%E2%80%AFAM.png?VersionId=cQQdXHt9wS0UXwZEm5Py5bH_3kAmzyhu" /></p>

<p>Designed by BDA Architecture, Solis will deliver a mix of one, two and three-bedroom apartments, with residences ranging up to 232 sqm. Apartments feature generous balconies and contemporary finishes, while residents will have access to Harbour Shores' lagoon pool, clubhouse, tennis court, gym, yoga studio and sauna.</p>

<p>The focus on first home buyers resonated with purchaser Holly Humphreys, who said she and her boyfriend spent more than a year searching for their first property before shifting their attention from houses to apartments.</p>

<p>"We fell in love with the first house we bid on and got our hopes up, but after repeated knockbacks we learned not to get too attached," Humphreys said.</p>

<p>"We offered at the high end of price guides, but sales kept going even higher. That's where we really struggled and we needed to re-evaluate our budget and our expectations. Standalone houses were off the table, and we pivoted to apartments and townhouses."</p>

<p>Humphreys said it was encouraging to see developers recognising the growing demand from first home buyers.</p>

<p>"There's a growing number of young buyers looking to enter the market earlier because they understand that getting in now can make a real difference as prices continue to rise," she said.</p>

<p>"It's fantastic to see a developer recognise this and then actively take measures to deliver an apartment with us in mind."</p>

<p>Solis is the first development planned within the second stage of the Harbour Shores masterplan, with early works expected to commence in September 2026.</p>

<p>[smartcode_project_cta:default project_id=113271]</p>


Lewis Land targets first home buyers at latest Harbour Shores release, Solis

<p>Luxury apartment developer Abadeen has recorded $19.25 million in apartment sales across two of its Lower North Shore developments in the lead-up to the end of the financial year, headlined by the sale of a $6.75 million penthouse at <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-5-rodborough-avenue-crows-nest-nsw-2065">KOYO in Crows Nest.</a></p>

<p>The transactions also included the sale of a newly completed three-bedroom apartment at <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences in Cremorne</a> for $6.35 million, with the residence selling shortly after the project's first public inspections following completion.</p>

<p>The sales come as completed, owner-occupier-focused apartments continue to attract strong demand across Sydney's Lower North Shore, particularly from buyers looking for certainty and immediate occupancy.</p>

<p>The penthouse at KOYO spans 491 sqm across a single level and was designed by architect Koichi Takada. The development is one of Abadeen's flagship boutique projects in Crows Nest.</p>

<p>[smartcode_project:default project_id=108800 project_image_fid=370093]</p>

<p>Abadeen Executive Chairman and Founder Justin Brown said buyer activity lifted noticeably in the lead-up to the end of the financial year.</p>

<p>"We saw a clear increase in enquiry levels, inspection numbers and buyer engagement across our completed projects leading into the end of the financial year," Brown said.</p>

<p>"Buyers have become far more decisive over the past six months. The combination of improving confidence, limited supply and the ability to physically inspect completed residences is creating strong competition for premium apartments in the best locations."</p>

<p>Brown says the&nbsp;response to Park Residences following completion has been particularly strong.</p>

<p>"Buyers want certainty and are responding positively to the opportunity to walk through a finished product, inspect the quality firsthand and move in immediately," Brown suggested.</p>

<p>"Projects such as Park Residences and KOYO demonstrate that when the product is exceptional and the location is irreplaceable, buyers are prepared to act quickly."</p>

<p>[smartcode_project:default project_id=114246 project_image_fid=370116]</p>

<p>Abadeen CEO Joe Tack said quality continued to differentiate projects in the current market.</p>

<p>"Today's buyers are incredibly discerning," Tack said.</p>

<p>"They are seeking larger floorplans, premium finishes, walkability, lifestyle amenity and confidence in the developer delivering the project. Well-designed boutique developments continue to outperform because they offer something genuinely difficult to replace.</p>

<p>"The enquiry we are seeing across our completed and recently completed Lower North Shore portfolio is very encouraging, and we expect this momentum to continue into spring."</p>

<p>The sales follow increased enquiry across Abadeen's Lower North Shore portfolio which also includes <a href="https://www.apartments.com.au/buildings/northcote-collective-naremburn-2-northcote-street-naremburn-nsw-2065">Northcote Collective in Naremburn</a> which also completed recently.</p>


KOYO penthouse headlines Abadeen's $19.25 million EOFY sales flurry

First Home Buyers

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<p>A typical home owner in Mount Gambier could be a first home buyer, a family or an empty nester, according to a recent report from the Herron Todd White valuation firm.</p>
<p>First home buyers are generally younger and look for a property that is within the $150,000 to $250,000 price range.</p>
<p>Families are generally after a home that has 3- to 4-bedrooms and perhaps two living areas and is within the price range of $250,000 to $450,000.</p>
<p>"For empty nesters it is varying," the report said.</p>
<p>"They may be looking to downsize from a large family home.</p>
<p>"They are pretty flexible and may choose to either buy or build a modern, smaller dwelling for easier maintenance.</p>
<p>"A lot of empty nesters are also selling and following their children to university or even packing up and travelling."</p>
<p>Recently, a three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-sa-mount+gambier-120791109" target="_blank">61 Acacia Street</a>, picture above, in Mount Gambier recently sold for $185,000.</p>
<p>Another three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-sa-mount+gambier-126405418" target="_blank">81 Cardinia Street</a> recently changed hands for $220,000.</p>
<p><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/2017/11/22/MtGambier2.jpg" alt=""> </p>
<p>HTW noted with the construction grant still in place for first home buyers, it is still common for first home buyers to build their first home.</p>
<p>These homes are generally within the price range of $250,000 to $350,000.</p>
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Mount Gambier first home buyers spending $150,000 plus

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<p>The Bendigo residential market has seen consistent growth over the past 12 months, according to the valuation firm, Herron Todd White.</p>
<p>Bendigo's growth comes with increasing government support for first home buyers in regional areas.</p>
<p>"This increase in funding has seen a lift in new home construction rates in the Bendigo area particularly in the new estates around Epsom, Marong and Huntly," HTW noted.</p>
<p>With property prices rising in the capital cities, regional centres such as Bendigo offer first home buyers an opportunity to live in a new home within 20 minutes of a CBD for less than half a million dollars.</p>
<p>For homes under $350,000 in value, rental rates are only marginally cheaper than paying a mortgage.</p>
<p>A two-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-bendigo-125275950" target="_blank">2/10 Larritt Street</a> (picture above) sold for $292,500 recently.</p>
<p>Another two-bedroom house at 7/83-87 Arnold Street (below) changed hands recently for $338,000.</p>
<p> <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/2017/11/15/Bendigo2.jpg" alt=""></p>
<p>HTW noted with the Calder Highway and V-line trains connecting Bendigo to Melbourne within two hours of travel, "Bendigo is far from isolated." </p>
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Bendigo attracting first home buyers

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<p>Home ownership in Mildura is still a realistic goal, with the median house price being around $260,000 and $180,000 for units.</p>
<p>Herron Todd White said in a recent report that families and older couples make up the largest percentage of people living in Mildura.</p>
<p>The majority of buyers in Mildura are owner-occupiers.</p>
<p>Statistics from Corelogic show the average time a home in Mildura is held is around eight years, which supports the theory that many buyers gradually trade their way up from entry level homes to better standard homes as their financial circumstances improve.</p>
<p>Over the past 10 years, first home buyers have shown a willingness to take on more debt in order to acquire more expensive first homes.</p>
<p>"No doubt the low interest rate environment has contributed to this confidence, however it appears that many first home buyers have much higher expectations than previous generations," wrote HTW.</p>
<p>"Most first home buyers in Mildura are looking for modern detached dwellings in better locations and will typically spend from $280,000 to $350,000."</p>
<p>The presence of attractive first home owner grants has made building a home an attractive option for many young people.</p>
<p>"Currently there is $20,000 available to first home buyers who build a home in Victoria and $10,000 in NSW, which when combined with the stamp duty exemptions currently available make this attractive for many people.</p>
<p>"We note however, that the cost of land and building has increased in recent years by at least this amount, making this option less attractive than it once would have been."</p>
<p>As an example, a three-bedroom house at 40 Golden Ash Drive (picture above) sold recently for $320,000 through Ray White’s Luke Hermans.</p>
<p>Another recent sale was a four-bedroom house at 281 Eighth Street for $256,000, (below) close to the median house price.</p>
<p><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/2017/11/15/Mildura2.jpg" alt=""></p>
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<p><span>The HTW report noted that townhouses and units are mostly being purchased by either investors or retirees, attracted by the lower maintenance requirements.</span></p>
<p><span>"There has been a trend in the past five to ten years for many empty nesters to move from their large family homes to new townhouses on compact lots."</span></p>
<p><span> The development of around 70 residential lots within part of the Mildura golf course has met with strong demand from this buyer segment who are typically spending between $450,000 and $650,000 to acquire good standard housing on lots of around 500 square metres, HTW advised. </span></p>
<p><span>Buyers in Mildura still have a preference for detached dwellings and the relative affordability of land makes this possible. </span></p>
<p><span>"Our constant theme is that owner-occupiers (and tenants) always show a preference for homes which have functional outdoor living areas designed to be shaded in the summer months. </span></p>
<p><span>"Mildura has long, hot summers, and the ability to spent time outdoors is an important consideration for home buyers," it added. </span></p>
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Mildura's first home buyers have higher expectations than in the past: HTW

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<p>Warrnambool’s residential market is somewhat removed from the affordability issues which dominate the metropolitan markets, the valuation firm Herron Todd White recently noted.</p>
<p>First home buyers there are currently operating in the $300,000 to $400,000 price range.</p>
<p>However, a recent trend is for first home buyers looking for a house and land package.</p>
<p>"This is on the back of recent government incentives that offer stamp duty exemptions and construction allowances for properties built within regional areas," HTW said in its report.</p>
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<p>Demand from home buyers remains focused on traditional detached housing. </p>
<p>"The great Australian dream of home ownership is alive and well in Warrnambool. This is due to the continuing release of new residential land supply on the city’s extremities, a steady median price as well as the existing low-cost, affordable pockets in area such as Dennington and North Warrnambool." </p>
<p>A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-dennington-123536578" target="_blank">24 Nina Street</a> (picture above) sold for $329,900 earlier this year.</p>
<p>Another three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-warrnambool-125653970" target="_blank">25 Rawlings Drive, Warrnambool</a> sold (below) for $395,000 in August.</p>
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Warrnambool first home buyers seeking out house and land opportunities

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<p>Construction of EPV Developments’ $60 million The Wellington apartment building in East Brisbane is complete, with the development officially opening its doors to residents.</p>
<p>The Wellington comprises 127 one and two Bedroom apartments as well as expansive recreational facilities including a roof-top pool area, barbecue garden and dining area, and ground floor retail precinct.</p>
<p>With titles being issued and settlements underway, residents have started moving into the boutique 10-storey apartment building to start their new metropolitan lifestyle just 1.5km from Brisbane CBD.</p>
<p>EPV Developments Director Karl Jameson said the milestone was cause for celebration for everyone involved in the project.<br>“Since construction began in April of last year the build has progressed on schedule, with our vision for The Wellington being delivered for all our residents to now enjoy,” he said.</p>
<p>“Now that settlements have begun, we are enjoying seeing residents move in and experience the luxury inner-city apartment lifestyle that we have developed at The Wellington.</p>
<p>“We are very pleased to see our overall vision for The Wellington come together seamlessly, with the high-quality onsite facilities now a reality, apartments complete with contemporary design finishes, and tenants on the ground floor retail precinct beginning to open for business.”</p>
<p>The apartments feature the highest-quality finishes in their price range, with ducted and zoned air conditioning, 40mm benchtops, Bosch appliances, 2pac joinery, floor to ceiling tiles in the bathrooms and concealed toilet cisterns.</p>
<p>Thomas Bellew secured his brand new contemporary apartment at The Wellington by paying a deposit and using the construction period to save money for settlement.</p>
<p>“I am very pleased with how smooth the process of purchasing my first apartment at The Wellington has been,” he said.</p>
<p>“Now the big day is imminent and I can’t wait to unlock the door on my brand new one bedroom apartment.</p>
<p>“I am looking forward to making the most of social lifestyle at The Wellington with friends and family visiting my new place and exploring the local restaurants, bars and cafes with me.”</p>
<p>TOTAL Property Group Managing Director and Marketing Manager for The Wellington, Adrian Parsons, said the new development was continuing to attract strong interest from buyers, with less than 20 available apartments remaining.</p>
<p>“Our existing purchasers are keen to move into their new apartments and start living the East Brisbane lifestyle,” he said.</p>
<p>“We have a number of first-time home buyers that are celebrating the milestone of moving into their first property, which is all the more exciting.</p>
<p>“With the completion of construction and the extension of the Queensland Government’s First Home Owners Grant, there are still opportunities for first home buyers to purchase and move into their first home at The Wellington before Christmas.”</p>
<p>The Wellington has been designed to integrate with East Brisbane’s growing young professional market, as well as the area’s already-established retail and foodie culture, providing residents with the ultimate inner-city lifestyle where they can live, work and play within the one location.</p>
<p>The remaining one-bedroom and two-bedroom apartments are available in a variety of floorplans designed to offer contemporary living, and are priced between $339,000 and $560,000.</p>
<p>The Wellington is perfectly positioned on the corner of Wellington Road and Overend Street in the high-demand suburb of East Brisbane, just a short walk from The Gabba stadium and the dining and shopping destinations of Logan Road and Stanley Street.</p>
<p class="x_MsoNormal">For more information <a href="http://thewellingtonbrisbane.com.au/" target="_blank">click here</a>. </p>
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Construction complete at the Wellington in East Brisbane

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<p>When the developer Dyldam launched its South Quarter project at Parramatta – on the former Auto Alley – last  month they noted there was especially strong interest from first time buyers amid high local interest.</p>
<p>The average off the plan sale price was $750,000 in what will become a $876 million residential mixed-use project on the former Holden car yard.</p>
<p>It is a sign that after a lengthy absence, first time buyers are emerging across NSW, perhaps lured by the expansion in the available government grants. </p>
<p>The latest ABS data calculated 2,426 first home buyer commitments in August which represented the biggest monthly number for five years.</p>
<p>Though still below the longterm average, NSW first home buyers accounted for 12.9% of owner occupier commitments over the month, the highest proportion since 2012.</p>
<p>It was up from a recent NSW low of 7.5% in February 2017 when it looked easy to conclude that our higher housing prices had significantly reduced the probability of many ever becoming an FHB.</p>
<p>There's been research recently done by the Reserve Bank of Australia which confirmed that ‘generation rent’ is a reflection of higher housing prices rather than any shift in preferences.</p>
<p>It seems young households still have a desire to become home owners, however, fewer potential FHBs are actually able to enter the housing market.</p>
<p>It particularly noted the underlying desire to become an FHB has not changed since the global financial crisis.</p>
<p>"However, people’s ability to, or comfort with doing so, has been affected," it noted.</p>
<p>The research suggests the decline in home ownership was not as much influenced as previously thought from social and demographic and factors, including key life-cycle events such as exiting the family home, marriage and having children. </p>
<p>The research paper, comparing FHB loan characteristics in this pre- and post-financial crisis periods, shows the major consequence of the current higher prices is that FHBs have to save a much larger deposit.</p>
<p>That is despite maintaining a similar median loan-to-valuation ratio of around 83%.</p>
<p>The median deposit size increased by around $28,000 to almost $70,000 in the 2008–14 period.</p>
<p>The median purchase price of FHB homes across Australia in the 2008–14 period was $387,000, which was almost $100,000 higher than the price paid by FHBs in the 2001–07 period</p>
<p>The transition from being a renter to a first home buyer is the riskiest of steps in one's fiscal life. And I'd suggest those doing so currently are doing it with heightened risk.</p>
<p>But interestingly despite higher debt levels, households who became FHBs post-2007 appear to be paying down their mortgages and reducing their debt-to-income ratios at the same rate, or slightly faster, than households who took on a mortgage before 2007.</p>
<p>The research noted in the year after taking out a loan, the reduction in the debt-to-income ratio for FHBs in the post-2007 period was around 8%, compared to 5% for the pre-2007 borrowers. No doubt low interest rates being a key factor.</p>
<p>It also noted recent FHBs have been less likely to have ever been behind schedule on their loan.</p>
<p><em>This article first appeared in </em>The Daily Telegraph. </p>
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FHBs at heightened risk, despite great repayment track record 

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<p>Due to changes in the market in recent times the valuation firm, Herron Todd White noted they have seen investors become less active in the Alice Springs market, with the vast majority of transactions relating to home occupiers. </p>
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<p>"We are currently seeing activity from first home buyers after a quiet period for the occupiers.</p>
<p>"We are also seeing good activity to upgraders locally, however the empty nesters and downsizers are very quiet due to these purchasers typically leaving town to be close to family, making way for new entrants."</p>
<p>In the first home buyers category HTW typically see activity up to around $500,000 with a broad range of property from older style units to renovation projects or new larger homes.</p>
<p>"More recently we have seen a trend more towards newer property, particularly with the emergence of the newest suburb in Alice Springs, Kilgariff.</p>
<p>A three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nt-kilgariff-123652386" target="_blank">Lot 7305/3 Cramer Street, Kilgariff</a> (picture above) sold for $526,500. The selling agent was Gail Tuxworth of LJ Hooker.</p>
<p>"This is largely as a result of the first home buyers grant available for builds or newly constructed dwellings," the HTW report noted.</p>
<p>There had also been an increase in the range of property available to first home buyers such as newly renovated bedsit units, not previously available in the local market.</p>
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Alice Springs first home buyers heading to Kilgariff

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<p><span>Like other parts of Sydney, investor demand has </span>declined in recent months in Southern Sydney, while home owners are generally remaining active in the market, according to the valuation firm Herron Todd White.</p>
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<p><span>First home buyers generally budget up to $1,000,000, which generally restricts property options to units, villas and townhouses. </span></p>
<p><span>There are a number of new unit developments in the Sutherland Shire which are attractive for rst home buyers including those at Woolooware Bay and the South Village development currently under construction at Kirrawee. </span></p>
<p><span>For the latter, 1-bedroom units are selling off the plan for between $600,000 and $700,000, and 2-bedroom units for between $680,000 and $900,000, HTW noted</span>.</p>
<p>First home buyers, downsizers and young professionals were prominent in the successful sales weekend of Crest at Woolooware Bay.</p>
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<p><span>Upsizers and families require a budget of $1 million up to $3 million in more popular beachside and riverside suburbs. </span></p>
<p><span>Duplex properties are becoming increasingly attractive, allowing a more affordable option of a good sized modern home on a smaller low maintenance block of land. </span></p>
<p><span>The valuation firm noted a sale at 32B Carabella Road, Caringbah, which sold for $1.562 million in August, comprised a new two storey semi- detached duplex with 4-bedrooms, 2-bathrooms and 1-car garage on a 280 square metre lot. </span></p>
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Southern Sydney FHBs spending up to $1 million

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<p><span>Home ownership is still the dream for most people living on the Sunshine Coast and owner-occupiers are again making up the majority of sales, particularly since APRA announced changes to investor lending, the valuation firm, Herron Todd White has advised. </span></p>
<p><span>They are seeing first home buyers still very active throughout the more affordable hinterland townships as well as in the new small lot residential estates at Caloundra and Palmview. </span></p>
<p><span>"Land in these estates is selling before titles are issued and is very popular amongst first home buyers," the firm's latest report noted.</span></p>
<p><span>"The Sunshine Coast is seeing some change with several new high density unit developments recently completed around the new hospital precinct and a large supply of small lot developments providing affordable housing.</span></p>
<p><span>"Lot sizes above 500 square metres are becoming scarce along the coastal strip and the number of attached housing developments is increasing. </span></p>
<p><span>"Both of these residential options provide an opportunity for first home buyers to get into the market at around $400,000." </span></p>
<p><span>Investors are also active for these types of properties at this price point, the valuation firm noted. </span></p>
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<p><span>Upgraders are also active given the ability to exit out of their current home.</span></p>
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Sunshine Coast still seeing active first time buyers

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<p>First home buyers, downsizers and families looking to upgrade have all been active in the property market as well as those who are new to Canberra, according to the valuation firm Herron Todd White.</p>
<p>First home buyers have affordable detached housing options in the outer suburbs of Belconnen and Tuggeranong, while Gungahlin provides newer detached housing at more of a premium.</p>
<p>"Alternatively, there are affordable unit options available throughout the Canberra region with new developments being completed in the city and town centres," HTW added.</p>
<p>There is also a large supply of older units close to the city and in the suburbs that would be suitably priced for first home buyers, the report advised.</p>
<p>The strong detached housing market has forced most first home buyers to look to apartments to climb onto the property ladder.</p>
<p>New Canberra residents have been active mainly in the Gungahlin market where they can buy new homes in a newly established suburb.</p>
<p>"Demand has been very strong from these buyers with land selling at a similar rate per square meter to land in established inner suburbs.</p>
<p>"This demographic has also been active in the new apartment market especially dwellings in close proximity to universities and town centres," HTW said.</p>
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