<p data-end="256" data-start="0"><a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.</p>

<p data-end="446" data-start="258">The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.</p>

<p data-end="645" data-is-last-node="" data-is-only-node="" data-start="448">Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.</p>

<p><img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" /></p>

<p>Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.</p>

<p>The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.</p>

<p>The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”</p>

<p data-end="626" data-start="350">Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.</p>

<p data-end="928" data-start="628">“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”</p>

<p data-end="1147" data-start="930">Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.</p>

<p data-end="1510" data-start="1149">“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”</p>

<p data-end="1510" data-start="1149"><img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" /></p>

<p>&nbsp;</p>

<p>The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.</p>

<p>Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.</p>

<p>The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.</p>

<p>The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.</p>

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<p data-end="305" data-is-last-node="" data-is-only-node="" data-start="0">The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.</p>
</section>


Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

<p style="text-align:start">The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;</p>

<p>The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.</p>

<p>The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.</p>

<p>Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.</p>

<p>The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.</p>

<p>As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.</p>

<p><img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" /></p>

<p>The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.</p>

<p>An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;</p>

<p>The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.</p>

<p>The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;</p>

<p>It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.</p>

<p>Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.</p>

<p>“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.</p>

<p>“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;</p>

<p>Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.</p>

<p>“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.</p>

<p>“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”</p>


Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

<p>Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.</p>

<p>A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.</p>

<p>Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.</p>

<p>“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.</p>

<p>Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.</p>

<p>“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.</p>

<p>The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.</p>

<p>It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.</p>

<p>The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.</p>

<p>One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.</p>

<p>Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.</p>

<p>The developer is also exploring the potential for additional affordable housing outcomes.</p>

<p>Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.</p>

<p>Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.</p>

<p>Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.</p>

<p>“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”</p>

<p>Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.</p>

<p>Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.</p>

<p>Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.</p>


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

<p>Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.</p>

<p>The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.</p>

<p>Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" /></p>

<p>“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.</p>

<p>The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”</p>

<p>The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" /></p>

<p>The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.</p>

<p>According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.</p>

<p>“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.</p>

<p>A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.</p>

<p>Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.</p>

<p><img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" /></p>

<p>All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.</p>

<p>The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.</p>


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

<p>Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.</p>

<p>The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.</p>

<p>Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.</p>

<p><img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" /></p>

<p>Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.</p>

<p>The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.</p>

<p>"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.</p>

<p>The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.</p>

<p>The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.</p>

<p><img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" /></p>

<p>Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.</p>

<p>Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.</p>


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

First Home Buyers

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<p><span>Although we have seen considerable activity from investors over recent years, owner-occupiers still make a sizeable sector of the Coffs Harbour market, according to valuers, Herron Todd White.</span></p>
<p><span>"When you consider that there are first home buyers, trade up or down buyers and retirees all looking to secure properties, there is no one size fits all in relation to property, the firms latest report suggested.</span></p>
<p><span> It is difficult to pigeon hole what each buyer profile looks like or the attributes sought after in a property. </span></p>
<p><span>"The forst home buyer conjures up images </span>of the young twenty something purchaser when in fact we are seeing the thirty or forty something age bracket also trying to get off the rental treadmill.</p>
<p>"The younger generation seems to be attracted to the shiny new product whist the older group looks towards an older home," HTW noted.</p>
<p>As property prices continue to strengthen, new product is becoming less affordable and it is becoming increasingly difficult to find a house under $500,000.</p>
<p>The trend is to go to unit product (townhouse or villa) or further a field to the smaller townships in the more affordable price range of under $500,000.</p>
<p>The Coffs Coast has an ample range of property priced under $350,000 so long as buyers are prepared to look at the older units in central Coffs Harbour or homes further a field in the lesser known townships such as Nambucca Heads, Macksville and Grafton. </p>
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<p><span>The trade up or down buyers are diverse in their requirements and will generally be attracted to areas which suit their lifestyle depending on age and family needs. </span></p>
<p><span>Downsizers typically look toward the unit and small lot properties. </span></p>
<p><span>"We have seen an increase in unit development within Coffs Harbour generally centred on the Jetty precinct and Park Beach areas. </span></p>
<p><span>"These two areas are only two kilometres apart however miles apart in value. </span></p>
<p><span>"The more affluent downsizer looks toward the Jetty precinct close to the harbor and CBD with local restaurant and tourist facilities."</span></p>
<p><span> The average price for modern units is $500,000 </span>to $800,000.</p>
<p>Park Beach although having similar attributes of a good beach and shopping facilities has a more modest unit price range of $370,000 to $600,000 for modern units.</p>
<p><span>HTW noted highway upgrades north and south of Coffs Harbour have reduced travel times making commuting easier which has attracted many potential home purchasers to more fringe beachside localities such as Corindi Beach to the north, being popular with commuters from both Coffs Harbour and Grafton, and Nambucca Heads to the south where property prices are </span>considerably more affordable in the $300,000 to $400,000 price range.</p>
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j.ballantyne1990-6AQqhLzZaK

Coffs Harbour first home buyers are likely to be 30 or older: HTW

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<p><span>As housing affordability in Melbourne continues to be a major issue, buyers are looking to regional areas as a way to get their foot in the property market.<br></span></p>
<p><span>The valuation firm Herron Todd White says the Melbourne buyer has entered the Ballarat market targeting centrally located properties.</span></p>
<p><span>They e</span>specially want properties within close proximity to the railway station.</p>
<p>Soldiers Hill situated north of the railway station has experienced steady growth over the past year with the median house price in April 2017 at $365,000 up from $318,000 the same time last year.</p>
<p>A three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-ballarat+central-126481234" target="_blank">504A Urquhart Street</a> (above) in Ballarat has sold recently for $330,000. It was transacted through Damien Larkin and David Morrison of Ballarat Real Estate.</p>
<p>A three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-vic-ballarat+central-126427158" target="_blank">83 Peel Street South</a> in Ballarat Central was snapped up for $275,000. The selling agents were Mark Nunn and Chris McAteer of Buxton Ballarat.</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/2017/10/24/Ballarat2.jpg" alt=""></p>
<p>Central Ballarat and Alfredton also experienced a 6.5% increase in the first quarter of the year.</p>
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<p>HTW noted market confidence in Ballarat continues to rise with the State Government moving 600 jobs to the Ballarat Civic Hall site in 2020.</p>
<p><span>It also noted upgrades to the railway line to decrease commuter time to Melbourne and redevelopment of the Ballarat Station precinct had assisted buyer interest in the town. </span></p>
<p><span>"July 1 saw the commencement of the new First Home Owner’s Grant, with stamp duty concession on existing dwellings under $600,000 and an increased incentive to newly built homes. </span></p>
<p><span>"In the lead up to July 1st, first home buyers withdrew from the market waiting to cash in on the government incentives," HTW noted.<br></span></p>
<p><span>"As the financial year clicked over, central areas of Ballarat experienced the greatest growth in prices. </span></p>
<p><span>The volume of vacant land sales spiked in new residential estates as of July 1.</span></p>
<p><span> Ballarat has no shortage of vacant land for sale with new residential estates offering land in Bonshaw, Lucas, Delacombe and Alfredton. </span></p>
<p><span>HTW noted prices have eased for land due to the oversupply over the past few years. </span></p>
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Ballarat attracting Melbourne buyers

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<div>Since the introduction of new incentives, the number of dwellings <span style="text-decoration: underline;">financed</span> by first homebuyers bolted to the <a href="https://petewargent.blogspot.co.uk/2017/10/record-high-for-housing-finance" target="_blank">highest level in 92 months</a> in August 2017, so households are now being formed apace, especially in the two most populous states. </div>
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<div>There's much, much more to household formation than just this, though.</div>
<div> </div>
<div>Recall I showed from the 2016 Census figures that Australia's migration programme has led to a <a href="https://www.smh.com.au/business/the-economy/demographic-tsunami-will-keep-sydney-melbourne-property-prices-high-20170629-gx1onj" target="_blank">demographic tsunami</a>, being millions of 25 to 32 year-olds in Australia, about to swamp the housing markets, heavily focused on Sydney and Melbourne. </div>
<div> </div>
<div>Separate figures reporting the <a href="https://petewargent.blogspot.co.uk/2017/06/migrants-flock-to-capital-cities-stay" target="_blank">characteristics of recent migrants</a> showed that it's overwhelmingly now the capital cities that are about to be swamped, because new migrants flock to the capital cities, and end up staying there. </div>
<div> </div>
<div>Many first-timers are electing to rent where they live, and are instead buying investment properties as their first step onto the ladder, so the real number of first-time buyers is tracking at close to the long run average. Plus there's the trend towards co-ownership, as <a href="https://www.weeklytimesnow.com.au/real-estate/victoria/cobuying-a-solution-to-the-biggest-challenge-facing-buyers/news-story/e4fe88a599069d749765595101f2ba80" target="_blank">recently reported</a>. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">The 'bank of Mum &amp; Dad'</span></strong></div>
<div> </div>
<div>Perhaps as significantly, there are the parents buying homes for their kids, which is new household formation not reported in the first homebuyer finance numbers. </div>
<div> </div>
<div>We are now seeing this going on practically all the time at auctions in Sydney and Brisbane - to be blunt, it pushes up prices - and evidently it's a big thing down in Melbourne and Geelong too. </div>
<p> </p>
<div class="separator"><a href="https://3.bp.blogspot.com/--TU05mCnDD8/WeeUQaGjrcI/AAAAAAAAmrg/5lvbhp9aaCUdEMJKZRwPkCDh-O1Ou3F6wCLcBGAs/s1600/Cate1.jpg"><img src="https://3.bp.blogspot.com/--TU05mCnDD8/WeeUQaGjrcI/AAAAAAAAmrg/5lvbhp9aaCUdEMJKZRwPkCDh-O1Ou3F6wCLcBGAs/s400/Cate1.jpg" width="353" height="400" data-original-height="692" data-original-width="612"></a></div>
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<div>
<br>Cate Bakos of <a href="https://www.catebakos.com.au/" target="_blank">Cate Bakos Property</a> in Melbourne notes that it's not only the first homebuyer sector that's being impacted by inherited money:<br><br><em>"Parents are impacting competition levels significantly. Firstly in the first homebuyer concession range - which is already screaming along with heightened borrowing capacity - and secondly the upgrader stakes. We are seeing and hearing of parents paying it forward with inheritance money."</em><br><br>Affordability has been a drag on household formation to some extent since the financial crisis.<br><br>However, this is projected to be more than offset by an ageing population - empty-nesters and downsizers - more divorces, more separations, widowhood, and a nascent yet growing trend towards <a href="https://www.abs.gov.au/ausstats/abs@.nsf/Latestproducts/3236.0Media%20Release12011%20to%202036?opendocument&amp;tabname=Summary&amp;prodno=3236.0&amp;issue=2011%20to%202036&amp;num=&amp;view=" target="_blank">lone-person households</a> living in apartments. And that's before we mention all the empty dwellings.<br><br>Over the longer term, the ABS forecasts that the number of households will increase by well over 50 per cent to 12.7 million over the 25 years to 2036.</div>
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pwargent-M4siyDbqQY

First home buyer numbers bolt

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<p>Most of regional NSW had positive annual growth for houses, except in Dubbo and Wingecarribee, where prices fell year on year.</p>
<p><span><span style="color: #090a0d;">In terms of affordability, Albury had a median house price of $310,000 as of September 2017, according to Domain data. A year back, the median price was $305,000.</span></span></p>
<p><span><span style="color: #090a0d;">Other affordable regional NSW centres where first home buyers can get their foot on the property ladder include Richmond Valley, Wagga Wagga, Dubbo and Tamworth regional. The range of median prices in these areas is from $275,000 to $350,000.</span></span></p>
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<thead><tr>
<th class="igc-table-header igc-hidden-cell igicon-sort"> </th>
<th class="igc-table-header igicon-sort"><span class="igc-table-header-span">Sept. 2017</span></th>
<th class="igc-table-header igicon-sort"><span class="igc-table-header-span">June 2017</span></th>
<th class="igc-table-header igicon-sort"><span class="igc-table-header-span">Sept. 2016</span></th>
<th class="igc-table-header igicon-sort"><span class="igc-table-header-span">Quarter growth</span></th>
<th class="igc-table-header igicon-sort"><span class="igc-table-header-span">Annual growth</span></th>
</tr></thead>
<tbody>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Albury</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$310,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$299,500</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$305,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">3.40%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">1.60%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Armidale Dumaresq </span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$356,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$356,250</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$350,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">-0.10%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">1.70%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Ballina</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$621,250</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$577,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$545,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">7.10%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">14.0%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Bathurst</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$429,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$417,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$390,500</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">2.80%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">9.90%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Byron</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$820,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$850,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$757,500</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">-3.70%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">8.30%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Clarence Valley</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$380,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$360,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$338,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">5.30%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">12.40%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Coffs Harbour</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$485,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$485,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$431,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">0.00%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">12.50%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Dubbo</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$350,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$340,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$365,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">2.90%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">-4.10%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Eurobodalla</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$455,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$450,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$420,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">1.10%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">8.30%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Great Lakes</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$492,500</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$515,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$438,500</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">-4.60%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">12.30%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Lismore</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$370,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$375,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$340,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">-1.40%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">8.80%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Newcastle</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$595,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$610,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$525,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">-2.50%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">13.30%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Orange</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$366,500</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$370,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$348,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">-1.00%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">5.30%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Port Macquarie- Hastings </span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$520,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$500,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$465,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">3.80%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">11.80%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Richmond Valley</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$275,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$271,750</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$250,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">1.20%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">10.00%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Shellharbour</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$650,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$635,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$557,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">2.30%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">16.70%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Shoalhaven</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$545,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$525,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$456,250</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">3.70%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">19.50%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Tamworth Regional</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$349,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$340,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$325,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">2.60%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">7.40%</span></td>
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<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Tweed</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$573,500</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$579,750</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$519,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">-1.10%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">10.50%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Wagga Wagga</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$350,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$345,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$322,750</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">1.40%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">8.40%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Wingecarribee </span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$750,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$800,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$765,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">-6.70%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">-2.00%</span></td>
</tr>
<tr>
<td class="igc-table-header"><span class="igc-table-cell-span">Wollongong</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$740,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$754,000</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">$649,500</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">-1.90%</span></td>
<td class="igc-table-cell"><span class="igc-table-cell-span">13.90%</span></td>
</tr>
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<div class="innertext" data-placeholder=""><em>Source: Domain Group</em></div>
<div class="innertext" data-placeholder=""><span style="font-size: 12.16px;"> </span></div>
<div class="innertext" data-placeholder="">A three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-bourkelands-125948290" target="_blank">2/27 Osterley Place, Bourkelands</a> in Wagga Wagga (picture above) has sold for $359,500 through Ray White’s Cassie Sheahan. The house is leased at $375 per week.</div>
<div class="innertext" data-placeholder=""> </div>
<div class="innertext" data-placeholder="">A four-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-albury-126171606" target="_blank">427 Schubach Street, Albury</a> recently sold for $315,000. The 664 sqm block was sold through Tom Sanderson of Wodonga Real Estate.</div>
<div class="innertext" data-placeholder=""><span style="font-size: 12.16px;"><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/2017/10/19/FHBAlbury.jpg" alt=""></span></div>
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Regional NSW offers affordable options to first home buyers

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<p>Home ownership has become more of a reality in Darwin over the past two years, according to the valuation firm, Herron Todd White.</p>
<p>With the market continuing to soften, home owners now have an abundance of choice in regard to what they can purchase, a recent report advised.</p>
<p>Currently home owners are most active in the developing estate of Zuccoli in Palmerston and the newly released Northcrest development in Berrimah.</p>
<p>HTW noted home owners have also started to become active in the northern suburbs and Palmerston dwelling markets.</p>
<p>"However, semi-detached and attached units still seem to be struggling across all sectors of the market,." it advised</p>
<p>Vacant land continues to be a staple for home owners.</p>
<p>As developers continue to release land in both Zuccoli and the Northcrest development which is now starting to come online, home owners continue to gravitate towards this segment of the market.</p>
<p>HTW said although established dwellings have decreased in value, the option of new builds remains attractive to home owners, in particular first home owners.</p>
<p>"This is primarily due to attractive government incentives to purchase new land that is becoming cheaper and builders’ margins decreasing (we have seen rates as low as $1,700 per square metre in comparison to $2,000 and above in the peak periods of the market)."</p>
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<div>
<p>Within the established market, home owners are active in the northern suburbs in particular.</p>
<p>Suburbs in this area such as Leanyer, Anula, Wagaman and Karama have had a number of sales transact since the start of 2017 and this has primarily been to home owners.</p>
<p>These suburbs seem to be attractive as they are affordable and allow consumers to purchase a structurally sound dwelling on a decent size block all within close proximity of the Darwin CBD.</p>
<p>"We have seen sales as low as $360,000 for a basic 3-bedroom, 1-bathroom, ex-government dwelling in the less preferred suburb of Karama and basic 3-bedroom, 1-bathroom dwellings sell for $460,000 in the more preferred section of Leanyer."</p>
<p>A three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nt-karama-124464894" target="_blank">44 Wearing Crescent, Karama</a> recently sold for $380,000. The selling agent was Ray White’s Matt Englund.</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/2017/10/18/Darwin-HTW.jpg" alt="">  </p>
<p>Other areas also active within the established dwelling market in Palmerston are Gunn, Rosebery and Durack. Home owners have taken advantage of the declining value levels.</p>
<p>"We have seen sales as low as $410,000 in Durack for a 3-bedroom, 2-bathroom dwelling. Gunn has also produced some good buying with a basic 3-bedroom, 2-bathroom dwelling selling for $370,000."</p>
<p>A three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nt-durack-124339062" target="_blank">20 Kooyonga Cres, Durack</a> sold for $327,500 (picture above). The selling agents were Kylie Lynch and Paul Bunker of Approved Real Estate.</p>
<p>The report noted the unit market continues to struggle as the Darwin CBD is "completely saturated with stock."</p>
<p>"Potential purchasers are faced with the decision of why buy today when I can buy tomorrow for cheaper. Inner city semi-detached units are tightly held and whenthey come onto the market seem to be received well.</p>
<p>"However, the Palmerston market has continued to struggle as semi-detached units now compete price wise with dwellings in the less preferred sections of Gray, Moulden and Woodroffe.</p>
</div>
<div>
<p>HTW suggested the greatest obstacle the NT property market currently faces is the declining population growth.</p>
<p>"As more people decide to move interstate this will continue to have a ripple effect on the property market as buyers do not consider Darwin to be a long term place of residence.</p>
<p>"Until we achieve stronger population growth we will not see a dramatic increase in the level of home occupancy throughout Darwin," it noted. </p>
</div>
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Darwin becomes more affordable for FHB new builds

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<p>The ruling coalition has used its numbers in parliament’s lower house to push through the Budget move allowing first home buyers to contribute more to their super and then use it for a deposit. </p>
<p>It also says that the scheme won’t undermine Australia’s retirement savings system.</p>
<p>The legislation also allows older Australians to contribute the proceeds of the sale of their family home to their super, Fairfax Media reported.</p>
<p>The superannuation top-up scheme offers tax breaks.</p>
<p>Labor and the Greens are against the proposal, with the opposition saying it will do nothing to address housing affordability.</p>
<p>Shadow treasurer Chris Bowen said the scheme will only undermine the superannuation system, leading to a war of words with the ruling party.</p>
<p>Assistant minister to the treasurer, Michael Sukkar, said Labor was peddling misconceptions.</p>
<p>“It’s quite shocking and surprising to see any political party take a view that a tax cut for first home buyers is something that they cannot support,” Sukkar said.</p>
<p>Labor, however, would not oppose two other housing affordability bills announced in the budget.</p>
<p>The measures include limiting deductions investors can claim in relation to residential properties and slapping foreign owners with a vacancy tax if their property is vacant for at least six months during a one-year period.</p>
<p>Bowen said there was nothing to oppose because the measures were ineffective.</p>
<p>“What we see here is some minor tinkering which won’t do anything for housing affordability,” he told parliament.</p>
<p> </p>
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jonathanchancellor-7SQnKwU6yx

First home super scheme passes lower house test

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<p>The number of loans to first home buyers rose strongly in August from July, helped by moves from the New South Wales and Victorian governments to encourage first home owners into the market.</p>
<p>The ratio of the number of first home buyer loans to the total number of owner occupier loans also increased strongly, said the latest data by the Australian Bureau of Statistics (ABS).</p>
<p>Other features of the ABS data were:</p>
<ul>
<li>In trend terms, the number of commitments for owner occupied housing finance rose 1.0% in August 2017.</li>
<li>In trend terms, the number of commitments for the purchase of new dwellings rose 2.1%, the number of commitments for the construction of dwellings rose 1.5% and the number of commitments for the purchase of established dwellings rose 0.9%.</li>
<li>In original terms, the number of first home buyer commitments as a percentage of total owner occupied housing finance commitments rose to 17.2% in August 2017 from 16.6% in July 2017.</li>
</ul>
<p>Also, the trend estimate for the total value of dwelling finance commitments excluding alterations and additions rose 0.6%. </p>
<p>Seasonally adjusted, the total value of home finance commitments excluding alterations and additions rose 2.1%.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/10/18/FHBABS1.png" target="_blank">Click to enlarge</a></p>
<p><img src="https://www.urban.com.au/images/2017/10/18/FHBABS1.png" alt=""></p>
<p><a href="https://www.propertyobserver.com.au/images/2017/10/18/FHBABS2.png" target="_blank">Click to enlarge</a></p>
<p><img src="https://www.urban.com.au/images/2017/10/18/FHBABS2.png" alt=""></p>
<p>ANZ Research said in a note that the though “overall demand for housing appears to still be solid, although the growth in first home buyer demand is unlikely to be sustainable given ongoing affordability issues”. </p>
<p>It also said finance for the construction or purchase of new buildings continues to rise, posing some upside risk to our construction forecasts.</p>
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Loans to first home buyers grew strongly in August: ABS data 

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<p><span>The major centres throughout the South West have seen sales volumes continue to remain relatively stable, however the residential market within WA rural residential localities and inland townships </span>have continued to soften.</p>
<p>The valuation firm, Herron Todd White suggests the swings of the Perth market during the past several years have been missed in the South West which was still benefiting from a strong population growth.</p>
<p>"People in general want to live here, employment permitted, as the region is characterised by pristine beaches, surf and its world renowned wine region.</p>
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<p><span>Entry points into the lower end of the market range from $250,000 to $400,000.</span></p>
<p><span>"For this amount you can purchase either a basic established residence or build a project home in one of the outlying new developments," the recent report advised.</span></p>
<p class="p1">A three-bedroom house at <a href="https://www.realestate.com.au/sold/property-house-wa-dunsborough-124366038" target="_blank">4 Ashbrook Green, Dunsborough</a> (picture above) has sold for $365,000 through Michael Mort of JMW Real Estate.</p>
<p>"These established homes are in general located in closer proximity to the beach than the new developments and as such the established homes generally offer better capital growth potential while the new housing market offers better yields.</p>
<p><span>It noted the lower market segment is generally being driven by first home buyers and also investors. </span></p>
<p><span>"The stable condition of the lower market segment consequently has a ow on effect into the middle market as vendors of the lower market segment are looking in effect to trade up.</span></p>
<p><span>"It is generally the mums and dads that are active in this space as they are looking to upgrade the family home.</span></p>
<p><span>"Currently this market segment is offering good value for money. </span></p>
<p><span>"This market segment is considered to be stable, however we note that it is not performing as well as the lower market segment."</span></p>
</div>
<div class="column">
<p><span>The higher price range was resulting in fewer prospective purchasers. </span></p>
<p><span>It also noted while there seems to be a healthy balance between supply and demand the selling periods are in general longer than the lower market segment. </span></p>
<p><span>"Unfortunately, the upper end of the market is considerably slower than the lower and middle market segments. </span></p>
<p><span>"Properties above $1 million are selling if they are priced correctly, however extended selling periods between six to 12 months are still common.</span></p>
<p>"That being said, the South West is considered to be a premium holiday destination and there is still demand from the wealthy to invest and holiday in the region.</p>
<p>"Therefore prestigious properties scattered throughout the South West, such as Naturaliste, Eagle Bay, Metricup and Yallingup are still regularly recording sale prices in excess of $1 million."</p>
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South West WA property entry point starts at $250,000

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<div>AFG released its mortgage index for the September 2017, and it too showed a switch towards first homebuyers. </div>
<div> </div>
<div>First homebuyer activity has been buoyed by stamp duty concessions in New South Wales and Victoria. </div>
<div> </div>
<div>The average mortgage size rose to an all-time high of $491,952, up from $479,101 a year earlier.</div>
<div> </div>
<div>However, regulatory intervention has slowed the pace of the increase. </div>
<div> </div>
<div class="separator"><a href="https://3.bp.blogspot.com/-cDne2REAVJI/WeBUKQ-ez0I/AAAAAAAAmmI/56Y6ViVGspc7IB05l26LtM7zEAeqhF8awCEwYBhgL/s1600/AFG2.jpg"><img src="https://3.bp.blogspot.com/-cDne2REAVJI/WeBUKQ-ez0I/AAAAAAAAmmI/56Y6ViVGspc7IB05l26LtM7zEAeqhF8awCEwYBhgL/s640/AFG2.jpg" width="640" height="384" data-original-height="830" data-original-width="1380"></a></div>
<p> </p>
<div>The increase in mortgage size was driven by Victoria, Queensland, and South Australia.</div>
<div> </div>
<div>Elsewhere, macroprudential measures have evidently slowed the mortgage market.</div>
<p> </p>
<div class="separator"><a href="https://4.bp.blogspot.com/-10_x__ClhRU/WeBULX4Q45I/AAAAAAAAmmQ/cIzsSH9pYfUExKK7Xc1yWqfkHP76ANnnACLcBGAs/s1600/AFG1.jpg"><img src="https://4.bp.blogspot.com/-10_x__ClhRU/WeBULX4Q45I/AAAAAAAAmmQ/cIzsSH9pYfUExKK7Xc1yWqfkHP76ANnnACLcBGAs/s640/AFG1.jpg" width="640" height="392" data-original-height="826" data-original-width="1345"></a></div>
<p> </p>
<div class="separator"> </div>
<div>The figures for total lodgement volumes at the state level are necessarily seasonal, but simply underscore the sheer strength of the lending growth in Victoria. </div>
<div> </div>
<div>Victoria appears to be the only state where cooling measures have not had a material impact. </div>
<p> </p>
<div class="separator"><a href="https://1.bp.blogspot.com/-PgbEKU0aL5c/WeBULOvd8AI/AAAAAAAAmmM/f9ZXSkoQD5geXz_-Sp6VXvi7UUlHDkC4wCLcBGAs/s1600/AFG3.jpg"><img src="https://1.bp.blogspot.com/-PgbEKU0aL5c/WeBULOvd8AI/AAAAAAAAmmM/f9ZXSkoQD5geXz_-Sp6VXvi7UUlHDkC4wCLcBGAs/s640/AFG3.jpg" width="640" height="386" data-original-height="819" data-original-width="1353"></a></div>
<p> </p>
<div>There has been a massive shift away from investors, down to just a 29 per cent market share, from above 40 per cent at the peak.</div>
<div> </div>
<div>The other notable trend was the shift away from the major market lenders.</div>
<div> </div>
<div>Market share was down to 64.4 per cent for the main players, the lowest such result since the global financial crisis. </div>
<p> </p>
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The return of the first home buyer: Pete Wargent

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<p>Kingston has notched up the biggest increase in unit sales stock in the ACT, according to Real Estate Investar’s recent report.</p>
<p>The property investment firm says that Kingston’s unit stock has grown by 37% over a year ago.</p>
<p>This is followed by Greenway with 16% and Braddon with 8%.</p>
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="71">
<p>Suburb</p>
</td>
<td valign="top" width="71">
<p>Postcode</p>
</td>
<td valign="top" width="71">
<p>Current median price</p>
</td>
<td valign="top" width="71">
<p>Current sales stock</p>
</td>
<td valign="top" width="71">
<p>Sales stock 1 year ago</p>
</td>
<td valign="top" width="71">
<p>Stock growth</p>
</td>
</tr>
<tr>
<td valign="top" width="71">
<p>Kingston</p>
</td>
<td valign="top" width="71">
<p>2604</p>
</td>
<td valign="top" width="71">
<p>$485,000</p>
</td>
<td valign="top" width="71">
<p>99</p>
</td>
<td valign="top" width="71">
<p>72</p>
</td>
<td valign="top" width="71">
<p>37%</p>
</td>
</tr>
<tr>
<td valign="top" width="71">
<p>Greenway</p>
</td>
<td valign="top" width="71">
<p>2900</p>
</td>
<td valign="top" width="71">
<p>$369,000</p>
</td>
<td valign="top" width="71">
<p>42</p>
</td>
<td valign="top" width="71">
<p>36</p>
</td>
<td valign="top" width="71">
<p>16%</p>
</td>
</tr>
<tr>
<td valign="top" width="71">
<p>Braddon</p>
</td>
<td valign="top" width="71">
<p>2612</p>
</td>
<td valign="top" width="71">
<p>$430,000</p>
</td>
<td valign="top" width="71">
<p>67</p>
</td>
<td valign="top" width="71">
<p>62</p>
</td>
<td valign="top" width="71">
<p>8%</p>
</td>
</tr>
<tr>
<td valign="top" width="71">
<p>Watson</p>
</td>
<td valign="top" width="71">
<p>2602</p>
</td>
<td valign="top" width="71">
<p>$332,500</p>
</td>
<td valign="top" width="71">
<p>20</p>
</td>
<td valign="top" width="71">
<p>20</p>
</td>
<td valign="top" width="71">
<p>0%</p>
</td>
</tr>
<tr>
<td valign="top" width="71">
<p>Turner</p>
</td>
<td valign="top" width="71">
<p>2612</p>
</td>
<td valign="top" width="71">
<p>$480,000</p>
</td>
<td valign="top" width="71">
<p>35</p>
</td>
<td valign="top" width="71">
<p>36</p>
</td>
<td valign="top" width="71">
<p>-2%</p>
</td>
</tr>
</tbody></table>
<p>A two bedroom unit at <a href="https://www.realestate.com.au/property-apartment-act-kingston-125555066" target="_blank">23/10-12 Howitt Street</a>, Kingston (above) has recently sold for $465,000. It had listed for $478,000. The selling agent <span>Moira Maloney of Maloney's.</span></p>
<p>A one bedroom unit at <a href="https://www.realestate.com.au/property-apartment-act-kingston-121429470" target="_blank">11 Kerridge Street</a>, Kingston (below) has been listed for $489,000.</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/2017/07/21/11%20Kerridge%20Street.jpg" alt=""></p>
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