<p><a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> has lodged plans for a $750 million, three-tower mixed-use precinct that would complete the long-running redevelopment of Carlton's former Carlton United Breweries site.</p>

<p>The proposal at <a href="https://www.apartments.com.au/new-apartments/185-195-queensberry-street-carlton-vic-3053">46-78 Bouverie Street and 185-195 Queensberry Street</a> spans a 6,468 sqm site, the last remaining undeveloped parcels within the former brewery's 2007 masterplan.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the development will comprise two purpose-built student accommodation towers and a third build-to-sell apartment tower above a shared commercial podium and basement.</p>

<p>Across the three towers, SP Setia is proposing 606 build-to-sell apartments and 1,499 student accommodation units containing 2,009 beds.</p>

<p>The apartments will sit in the tallest tower, which will rise nearly 200m and 55 storeys. It will become&nbsp;one of the more substantial new build-to-sell apartment projects at the northern edge of Melbourne's CBD.</p>

<p>The apartment mix is weighted toward smaller inner-city product, with 188 studios, 206 one-bedroom apartments, 192 two-bedroom apartments and 20 three-bedroom apartments</p>

<p><img alt="First look: SP Setia plans three-tower finale for Carlton’s former CUB precinct" data-entity-type="file" data-entity-uuid="8271bc87-1b0a-41b7-ac73-a425ee375261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/3_2.png?VersionId=G4lw23o90B1boX4k4dj7rdz2ZEajS9wy" /></p>

<p>Part of the precinct will be a large-scale&nbsp;3,684 sqm supermarket and a further 2,198 sqm of speciality retail, creating close to 5,900 sqm of new commercial space within the precinct.</p>

<p>But one of the biggest components of the proposal is what sits between the buildings.</p>

<p>Around 4,650 sqm, or roughly 72 per cent of the site, will be publicly accessible open space, incorporating plazas, pedestrian connections, landscaped laneways and retail spill-out areas.</p>

<p>The ground plane is intended to finally complete pedestrian connections envisaged when the CUB masterplan was first approved nearly two decades ago, stitching together Victoria Street, Queensberry Street, Bouverie Street and Swanston Street through the former brewery precinct.</p>

<p>Urbis said the development would "complete the CUB precinct", with the public realm providing important north-south and east-west connections through what is currently the final undeveloped portion of the masterplanned site.</p>

<p>SP Setia is also exploring a new linear park within the Bouverie Street road reserve, with the concept to be developed further with the City of Melbourne through the planning process.</p>

<p>The proposal is being pursued through the Victorian Government's Development Facilitation Program under Clause 53.23 for significant residential development with affordable housing.</p>

<p>The planning report acknowledges the proposed heights exceed those contemplated under the original Comprehensive Development Plan and masterplan, but argues the built-form context has changed considerably over the past two decades.</p>

<p>Urbis said the three towers would instead create a stepped transition between Carlton and the Hoddle Grid, rising progressively from the 94.1-metre Tower One along the Queensberry Street edge to the 199.44-metre Tower Three closer to the established CBD-scale buildings to the south.</p>

<p><img alt="SP Setia" data-entity-type="file" data-entity-uuid="e885a07a-592c-40fc-bf82-e6dbaf32da54" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.52.24%E2%80%AFAM.png?VersionId=7s_ErUkSKAdY1mAWp3GRZgMNCGtwhk5m" /></p>

<p>SP Setia plans to deliver the development across three stages.</p>

<p>Stage One would deliver the basement, podium and retail areas for the entire precinct alongside the first student tower. Tower Two would follow in Stage Two, before the 606-apartment Tower Three is delivered as the final stage.</p>

<p>If approved and delivered, the project would close out a redevelopment process that has been underway since the former brewery masterplan was approved in 2007, adding more than 2,600 student beds and apartments to a precinct already home to Swanston Central, the Barak Building, RMIT Design Hub and several large student accommodation developments.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


Joel Robinson

SP Setia plans three-tower finale for Carlton’s former CUB precinct

<p>Melbourne developer Lowe Living is seeking to add to its growing bayside apartment pipeline, filing plans for a boutique eight-residence development in tightly held Middle Park.</p>

<p>Lowe Living, which has built much of its development portfolio across Melbourne's affluent bayside and south-east suburbs, is behind the plans for the 730 sqm site at <a href="https://www.apartments.com.au/new-apartments/123-125-erskine-street-middle-park-vic-3206">123-125 Erskine Street</a>, just off Armstrong Street and within the Armstrong Street Neighbourhood Activity Centre.</p>

<p>The developer is seeking approval for a five-storey residential building above two basement levels, with just eight large-format apartments and 18 car spaces.</p>

<p>“This is a deliberately very different proposition for us,"&nbsp;Tim Lowe, Co-Founder of Lowe Living, said.</p>

<p>"Eight residences is exceptionally boutique, but that's precisely what this site calls for.</p>

<p>“There is a strong community in Middle Park and the surrounding suburbs who have spent decades building a life here. They no longer want the maintenance of a large period home, but they aren't prepared to compromise on space, quality or location. We think there is a real opportunity to capture that hyper local market. A site like this rarely comes to market.”</p>

<p><img alt="Lowe " data-entity-type="file" data-entity-uuid="875fe572-0f14-4d90-9e11-55b28dd07731" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.42.49%E2%80%AFAM.png?VersionId=GDNQRv9BfpR9r1zkZ5UDyUM4ZvpIksut" /></p>

<p>The low-density proposal has been designed by Cera Stribley and is being progressed through the Victorian Government's Great Design Fast Track pathway, having already secured eligibility from the Minister for Planning.</p>

<p>The Office of the Victorian Government Architect supported its eligibility after finding the proposal demonstrated consistency with the program's seven design principles, while the project's financial feasibility has also been independently confirmed by Invest Victoria.</p>

<p>The project is targeting the downsizer market, with the planning documents describing the homes as larger-format residences and noting the two penthouses could otherwise have been configured as four separate apartments.</p>

<p><img alt="Lowe 2" data-entity-type="file" data-entity-uuid="60ab0987-2da6-4175-adac-315dcf6053c6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.15%E2%80%AFAM.png?VersionId=bOCPH0B2MFwlmaRW.TTCF9TzyifgVoQI" /></p>

<p>The site has dual frontage to Erskine Street and Canterbury Place and currently comprises a collection of commercial buildings used as offices, including a former heritage bakehouse, a former stable, a later gabled addition and a central courtyard.</p>

<p>It sits within the Commercial 1 Zone and the Armstrong Street Commercial Precinct heritage overlay, with the existing property classified as a contributory heritage place.</p>

<p>Heritage has subsequently played a significant role in Cera Stribley's design.</p>

<p>The front section of the former bakehouse facing Erskine Street will be retained, including its return walls, street-facing hipped roof and chimneys, while the Erskine Street façade and part of the western return wall of the former stable will also be incorporated into the new development.</p>

<p>Levels four and five will be set back five metres from the retained stable façade, while bricks removed through demolition are proposed to be salvaged and reused within the new building where possible.</p>

<p><img alt="Lowe 3" data-entity-type="file" data-entity-uuid="e97927a9-a2de-4a0f-83b6-65451238abfa" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-21%20at%208.43.06%E2%80%AFAM.png?VersionId=VR44AChLrX9q1XPB9GvVQV.ALXXbe4gC" /></p>

<p>Rather than presenting as a single five-storey building to Erskine Street, Cera Stribley has broken the development into a series of distinct forms.</p>

<p>A three-storey infill element will sit between the retained bakehouse and stable façades, with the upper levels recessed behind the heritage fabric. Canterbury Place will similarly feature two three-storey podium forms, separated by a central pedestrian accessway, before the upper two levels step back from the street.</p>

<p>A pedestrian through-link will run through the centre of the project between Erskine Street and Canterbury Place, creating entrances from both sides of the site and introducing landscaping and communal areas through the ground plane.</p>

<p>Landscape architect Acre has designed planting across the ground level, private terraces and upper levels, including a feature canopy tree at level three and integrated planting and arbours across the level four terraces. Five existing Erskine Street trees are proposed to be retained.</p>

<p>Sustainability is also a significant component of the Great Design Fast Track application. The apartments are targeting an average eight-star NatHERS rating, with no residence below 6.5 stars, while the project has achieved a 75 per cent BESS score. Seven of the eight apartments are designed for cross-ventilation, with the remaining residence using mechanically assisted natural ventilation.</p>

<p>The plans also incorporate an 8kWp rooftop solar system, a 5,000-litre rainwater tank and infrastructure allowing future electric vehicle charging for every residence.</p>

<p>Lowe has a strong portfolio across Melbourne's blue-chip suburbs. They recently launched <a href="https://www.apartments.com.au/new-apartments/jardin-house-by-lowe-living-camberwell-335-camberwell-road-camberwell-vic-3124">Jardin House by Lowe Living</a> in Camberwell, their first development in the Stonnington LGA.</p>


Lowe Living unveils Middle Park apartment development

<p data-end="288" data-start="269"><strong data-end="288" data-start="269">Article summary</strong></p>

<ul data-end="888" data-start="289">
	<li data-end="442" data-section-id="8tsh6o" data-start="289"><strong data-end="374" data-start="291">DVB Projects is preparing to launch its second Gold Coast apartment development</strong>, with demolition now underway at 137 Old Burleigh Road, Broadbeach.</li>
	<li data-end="573" data-section-id="1nyxl3e" data-start="443"><strong data-end="513" data-start="445">The 34-level tower will comprise just 49 ultra-luxury residences</strong>, including half-floor, full-floor and penthouse apartments.</li>
	<li data-end="717" data-section-id="oiyimj" data-start="574"><strong data-end="646" data-start="576">The launch follows strong demand at DVB's nearby Sea Glass project</strong>, which is more than 50 per cent sold and currently under construction.</li>
	<li data-end="888" data-section-id="epk9o9" data-start="718"><strong data-end="787" data-start="720">The development adds to the transformation of Old Burleigh Road</strong>, with premium beachfront apartment projects continuing to reshape the tightly held Broadbeach strip.</li>
</ul>

<p data-end="1011" data-start="790"><a href="https://www.apartments.com.au/developers/dvb-projects">DVB Projects</a> is preparing to launch its second Gold Coast apartment development, with demolition now underway on the Broadbeach site as the Sydney developer moves closer to bringing the ultra-luxury project to market.</p>

<p data-end="1296" data-start="1013">The 34-level tower at <a href="https://www.apartments.com.au/new-apartments/137-old-burleigh-road-broadbeach-qld-4218">137 Old Burleigh Road</a> will comprise just 49 residences, ranging from half-floor apartments through to full-floor homes and a penthouse. The launch follows the strong sales performance of DVB's nearby Sea Glass development. More than half of the apartments at Sea Glass, on the other side of Broadbeach, have been snapped up, well ahead of its late 2027 completion</p>

<p data-end="1296" data-start="1013"><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="2944b4be-c84e-4b54-8dc1-c712e76704c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E02_Exterior_Street%20Level%20Entrance.jpg?VersionId=YoNig7pRdrE3HCue7sUj78LzJteeQf3H" /></p>

<p>The start of demolition at 137 Old Burleigh Road signals DVB Projects’ underlying confidence in the Gold Coast’s luxury beachside apartment sector.</p>

<p>“We see the Gold Coast as one of the most compelling lifestyle markets in Australia, particularly at the premium end where demand continues to deepen,” said Dean Brown, Managing Director of DVB.&nbsp;</p>

<p>“This project has been carefully designed to respond to that demand - delivering large-format residences with a level of quality, privacy and amenity that is still relatively rare in the apartment market on the beachside."</p>

<p>Brown says the site itself is "exceptional."</p>

<p>"Old Burleigh Road is one of the most tightly held beachfront strips, and opportunities to deliver a project of this scale and calibre in this location are extremely limited.”</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="398f377a-c037-455e-9250-0c5e0d84c35b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/I12_FF%20Balcony.jpg?VersionId=NwOiRWGMubR1c8wthuEfggklcja7al9." /></p>

<p>The project will comprise 40 half-floor residences of approximately 260 sqm, alongside eight full-floor residences spanning around 524 sqm.</p>

<p>A single penthouse will crown the building, featuring a private pool, barbecue area, indoor gym and dedicated entertaining spaces.</p>

<p>Residents will have access to a resort-style suite of amenities, including a 20-metre pool with daybeds, a gymnasium, hot and cold plunge pools, a sauna, and private residents’ lounge and dining facilities.</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="d1642bb0-9a66-4427-a022-dfc0988c6287" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A02_Pool%20to%20View.jpg?VersionId=c0IXPyn_Gp_Kn3XCwzMrqIVkAdCEwVXP" /></p>

<p>Sales agent Todd Matheson, of <a href="https://www.apartments.com.au/project-marketer/pezet-matheson">Pezet Matheson</a>, which is marketing both 137 Old Burleigh Road and Sea Glass, said 137 Old Burleigh Road would address a clear gap in the market for genuine luxury products.</p>

<p>“There are very few opportunities on the Gold Coast where buyers can secure a residence of this size and quality in a new building,” Matheson said.</p>

<p>“What we’re seeing is a growing cohort of downsizers and interstate buyers who still want space - they’re not willing to compromise on living area, entertaining or finishes.</p>

<p>“This project has been designed with that buyer in mind. It offers the scale of a home, combined with the convenience and security of apartment living, in one of the coast’s most desirable positions.”</p>

<p><img alt="DVB Projects to commence demolition on $320m Broadbeach luxury tower" data-entity-type="file" data-entity-uuid="59aae0ca-5639-4320-8aca-d0bf60f48e43" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/E01_Exterior%20Hero.jpg?VersionId=DS8Zfy2WtgUEtdfe0TEUuf1W1GfcZq8S" /></p>

<p>Located on a 1,156 sqm site one block from the beachfront, the development will replace an ageing walk-up building and is expected to contribute to the ongoing transformation of the Old Burleigh Road strip into one of the Gold Coast’s most prestigious residential corridors.</p>

<p>With the development moving into the delivery phase, 137 Old Burleigh Road is slated to hit the market later this year.</p>

<p>[smartcode_project_cta:default project_id=145141]</p>


DVB Projects to launch second Broadbeach apartment tower as demolition commences

<p><a data-end="327" data-is-only-node="" data-start="250" href="https://www.apartments.com.au/developers/norus-projects" rel="noopener" target="_new">Norus Developments</a> has lodged plans for a new apartment development in Clayton that would add further momentum to the suburb's emerging Green Street corridor.</p>

<p>Plans have been lodged for the consolidated site at <a href="https://www.apartments.com.au/new-apartments/1359-1365-centre-road-clayton-vic-3168">1359-1365 Centre Road</a>, where Norus is seeking approval for 218 apartments across a 12-storey apartment building designed by <a href="https://www.apartments.com.au/architects/life-architecture-and-urban-design">Life Architecture</a>.</p>

<p>The proposal sits within the Clayton Major Activity Centre at the threshold of the planned Green Street corridor, a landscaped pedestrian connection intended to improve links through the precinct towards Clayton Railway Station.</p>

<p>The development would replace the site's existing collection of low-scale residential and commercial buildings with a single consolidated building, introducing significantly greater housing density to this part of Centre Road.</p>

<p>A retail tenancy is proposed at ground level to activate the Centre Road frontage, accompanied by transparent street interfaces and landscaping intended to create a more pedestrian-focused edge to the development.</p>

<p><img alt="First look: Norus Developments plans landscape-led apartment project for Clayton’s emerging Green Street" data-entity-type="file" data-entity-uuid="0a5a763a-d9e9-4253-af2f-88008de27ebf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Clayton%20a.png?VersionId=S2WJJbat1XVkZwB9SnYtygirXgWHiklX" /></p>

<p>The building has been designed with stepped massing and upper-level setbacks to manage its transition towards surrounding residential properties. The planning report describes the approach as one that integrates the building into the landscape rather than treating landscaping as a secondary element.</p>

<p>"A strong landscape and public realm strategy underpins the proposal," Urbis states in the planning report.</p>

<p>"Public benefits include an affordable housing contribution, a new pocket park, generous landscaped setbacks, deep soil planting and integrated Water Sensitive Urban Design."</p>

<p>The report adds that these elements are intended to create "a permeable, pedestrian-focused ground plane that enhances walkability, supports urban cooling and reinforces the emerging Green Street character."</p>

<p>Biophilic and passive design principles extend through the residential levels, with planting, daylight, natural ventilation and views towards landscaped areas forming part of the amenity strategy.</p>

<p>Parking would be concentrated away from the public realm, with 145 car spaces proposed from the rear laneway rather than dominating the Centre Road frontage.</p>

<p>The proposal follows an extensive pre-application process with the City of Monash. Three formal meetings were held between the project team and Council from December 2025 to March 2026, with the scheme evolving through several concept iterations before the current design was lodged.</p>

<p>The project arrives as Clayton prepares for substantial change around its established activity centre and the wider Suburban Rail Loop precinct. Its position on Centre Road places the development within an existing concentration of shops, services and public transport, while the Green Street connection is intended to strengthen pedestrian access towards Clayton Railway Station.</p>


First look: Norus plans landscape-led apartment project for Clayton’s emerging Green Street

<p><a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> has officially commenced construction on Bronze on Chevron, celebrating the sod turning of its first-ever Gold Coast development and marking a significant milestone in the company's continued expansion across South East Queensland.&nbsp;</p>

<p>Following the successful delivery of premium residential developments throughout Brisbane and the Sunshine Coast, <a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-chevron-island-qld-4217">Bronze on Chevron</a> represents Gardner Vaughan Group's entry into the Gold Coast market. Bronze will deliver 119 one, two, three and four-bedroom apartments above two ground-level retail tenancies.</p>

<p>[smartcode_project:default project_id=107520 project_image_fid=367193]</p>

<p>The recent sod turning ceremony was attended by Deputy Mayor Mark Hammel, President of the Surfers Paradise Surf Life Saving Club, Cassandra Sedgman, project consultants, purchasers, project partners and invited guests to celebrate the commencement of construction.&nbsp;</p>

<p>Gardner Vaughan Group Chief Executive Officer Simon Betteridge said Bronze on Chevron represented an exciting new chapter for the business.&nbsp;</p>

<p>"We've spent almost four decades building homes that respond to the way people want to live, and we're excited to bring that experience to <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>," Betteridge said.</p>

<p>"Bronze on Chevron is particularly significant because it marks Gardner Vaughan Group's first development on the Gold Coast following many successful projects across Brisbane and the Sunshine Coast."</p>

<p>[smartcode_project:default project_id=107520 project_image_fid=367183]</p>

<p>Betteridge said the ground breaking is a proud moment for the&nbsp;team and their purchasers, who can now see their future homes beginning to take shape.&nbsp;</p>

<p>"As both developer and builder, we're able to oversee every aspect of the project from design through to construction, ensuring the quality and attention to detail Gardner Vaughan Group has become renowned for."&nbsp;</p>

<p>Designed by acclaimed architectural practice <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, Bronze on Chevron has been thoughtfully designed to complement Chevron Island's evolving streetscape while embracing its relaxed coastal lifestyle.</p>

<p>The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029.&nbsp;</p>

<p>[smartcode_project_cta:default project_id=107520]</p>


The development will offer generous residences with refined interiors, premium finishes and resort-style amenities, with completion anticipated in early 2029

Gardner Vaughan Group breaks ground on first Gold Coast development, Bronze on Chevron

First Home Buyers

<html><body><div class="page" title="Page 33">
<div class="section">
<div class="layoutArea">
<div class="column">
<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>
</div>
<div class="column">
<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>
</div>
</div>
</div>
</div></body></html>

j.ballantyne1990-6AQqhLzZaK

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

<html><body><div class="page" title="Page 39">
<div class="section">
<div class="layoutArea">
<div class="column">
<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>
</div>
<div class="column">
<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>
</div>
<div class="column">
<p><span> </span></p>
</div>
</div>
</div>
</div></body></html>

Ballarat attracting Melbourne buyers

<html><body>
<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>
<p> </p>
<div class="separator"><a href="https://2.bp.blogspot.com/-_VSHlNMkc4A/WeeUsZWsR8I/AAAAAAAAmrk/97SRzapVQb4Xbkaw1Z_a4o5h3Edyuz0MQCEwYBhgL/s1600/FHBs.jpg"><img src="https://2.bp.blogspot.com/-_VSHlNMkc4A/WeeUsZWsR8I/AAAAAAAAmrk/97SRzapVQb4Xbkaw1Z_a4o5h3Edyuz0MQCEwYBhgL/s640/FHBs.jpg" width="640" height="390" data-original-height="834" data-original-width="1365"></a></div>
<div> </div>
<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>
<p> </p>
<div class="separator"><a href="https://1.bp.blogspot.com/-67or6Unu5Rk/WeeUPngj1KI/AAAAAAAAmrc/51F21V7HrkYCwGL41xWVtdI_zOoDaodZwCLcBGAs/s1600/Cate.jpg"><img src="https://1.bp.blogspot.com/-67or6Unu5Rk/WeeUPngj1KI/AAAAAAAAmrc/51F21V7HrkYCwGL41xWVtdI_zOoDaodZwCLcBGAs/s400/Cate.jpg" width="400" height="73" data-original-height="101" data-original-width="547"></a></div>
<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>
</body></html>

pwargent-M4siyDbqQY

First home buyer numbers bolt

<html><body>
<div class="moveable_w" data-element-id="particle_bfa6cc42-1e3c-4447-8329-24f8e8dd5ee1" data-object-id="bfa6cc42-1e3c-4447-8329-24f8e8dd5ee1" data-object-type="particle">
<div class="maintitle">
<div class="innertext" data-placeholder="">
<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>
</div>
</div>
</div>
<div class="moveable_w" data-element-id="chart_127958373" data-object-id="b8613e3f-3912-464c-9d82-2b53d2cdaf1e" data-object-type="chart">
<div id="chart_127958373" class="moveable chart ig-theme-group-chart">
<div id="Chart_127958373" class="inner notranslate">
<div class="igc-root">
<div class="igc-table-outer">
<div class="igc-table-container">
<table class="igc-table __dynamic">
<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>
</tr>
<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>
</tbody>
</table>
</div>
</div>
</div>
</div>
</div>
</div>
<div class="moveable_w" data-element-id="particle_c9fbc019-d7c9-47cb-9b8a-b752441ec0ac" data-object-id="c9fbc019-d7c9-47cb-9b8a-b752441ec0ac" data-object-type="particle">
<div id="particle_c9fbc019-d7c9-47cb-9b8a-b752441ec0ac" class="moveable particle caption-text ig-theme-group-text">
<div class="captiontext">
<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>
<div class="innertext" data-placeholder=""><span style="font-size: 12.16px;"> </span></div>
<div class="innertext" data-placeholder="">
<p class="p1"> </p>
</div>
</div>
</div>
</div>
</body></html>

Regional NSW offers affordable options to first home buyers

<html><body><div title="Page 35">
<div>
<div>
<div>
<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>
</div>
<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>
</div>
</div>
</div></body></html>

Darwin becomes more affordable for FHB new builds

<html><body>
<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>
</body></html>

jonathanchancellor-7SQnKwU6yx

First home super scheme passes lower house test

<html><body>
<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>
</body></html>

Loans to first home buyers grew strongly in August: ABS data 

<html><body><div class="page" title="Page 37">
<div class="section">
<div class="layoutArea">
<div class="column">
<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>
<div class="page" title="Page 38">
<div class="section">
<div class="layoutArea">
<div class="column">
<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>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div></body></html>

South West WA property entry point starts at $250,000

<html><body>
<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>
</body></html>

The return of the first home buyer: Pete Wargent

<html><body>
<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>
</body></html>

First Home Buyers

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

First Home Buyers

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News