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


Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

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


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

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


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

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


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

<p>As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.</p>

<p>At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=359199]</p>

<p>The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.</p>

<p>Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.</p>

<p>In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=360299]</p>

<p>The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.</p>

<p>Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.</p>

<p>This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=360300]</p>

<p>What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.</p>

<p>The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.</p>

<p>Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.</p>

<p>[smartcode_project_cta:default project_id=426]</p>


Elevated amenity anchors daily life at Aeris, Melrose Park

Housing Affordability

Alastair Taylor

All being equal podcast: affordable housing in Melbourne

<html><body>
<div><strong><span style="text-decoration: underline;">House prices rise a bit in Q1</span></strong></div>
<div> </div>
<div>Another day, another media article predicting a property bloodbath (again), with some 'proper weird' quoted figures on an apparent housing oversupply in New South Wales (?) and undersupply in Western Australia (?!).<br><br>Ho hum.</div>
<div> </div>
<div>Meanwhile back in the real world the ABS released its Residential Property Price Indexes for the 2015 quarter.<br><br>Let's take a quick look via six quick-fire graphics plundered from my chart packs.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">1 - Quarterly and annual price gains</span></strong></div>
<div> </div>
<div>Firstly, and most notably, it is clear that if we exclude Sydney, there was not really much of a property boom happening in Australia in the first quarter of the year, and indeed there hasn't really been for quite a number of years.</div>
<div> </div>
<div>We might add the possible exception of Melbourne which has defied gravity for a fairly long time now, surprising quite a few commentators...including me, to be fair.</div>
<div> </div>
<div>In the first quarter of the calendar year Melbourne (+0.6 per cent), Adelaide (+0.7 per cent), Brisbane (+0.5 per cent) and Hobart (+0.4 per cent) each recorded moderate price growth, while prices jumped a little in Canberra (+1.0 per cent).</div>
<div> </div>
<div>Over the past year Melbourne (+4.7 per cent), Brisbane (+3.9 per cent) and Canberra (+3.0 per cent) have each recorded decent if unspectacular price growth according to the ABS indices.</div>
<div> </div>
<div>Elsewhere, dwelling prices have been tracking at relatively flat or moderately declining levels in real terms.</div>
<div> </div>
<div>As expected, only Sydney has shown genuinely strong price growth over the past year with prices once again surging 13.1 per cent higher.</div>
<p><br><img src="https://4.bp.blogspot.com/-cYY-jCPozII/VYjPW4s2MyI/AAAAAAAAWVo/TzoPE5u53aY/s640/b3.jpg" width="640" height="282"><br><br></p>
<div>Generally speaking house prices (+1.7 per cent) performed better than attached dwellings (+0.8 per cent) in the first quarter of the year.</div>
<div> </div>
<div>In fact, although unit and townhouse prices surged again in Sydney (+2.2 per cent) and rose a little in Brisbane (+0.7 per cent), they declined in Melbourne (-0.8 per cent) and were down in no fewer than four of the other capital cities.</div>
<p><br><strong><span style="text-decoration: underline;">2 - Long run indices</span></strong><br><br></p>
<div>Since 2008 when a number of media pundits began calling for - nay, guaranteeing - outlandishly dire outcomes for Australia's housing markets, as predicted on this blog Sydney, being the most undersupplied major city market, has actually seen its dwelling prices increase.<br><br>In fact, Sydney prices are now up by an incredibly strong 63 per cent since Q4 2008, a farcical margin of error for those who were forecasting a crash.</div>
<div>
<br>Awkwardly, even Melbourne's prices have shot up by 41 per cent over the past six-and-a-bit years, although price growth does seem to have moderated somewhat of late, on these indices at least.</div>
<div> </div>
<div>The softest performing capital cities since 2008 have been those located in the southern states, being Adelaide (+15 per cent) and Hobart (+13 per cent), with Perth (+23 per cent) and Brisbane (+18 per cent) sitting somewhere in the pack.</div>
<div> </div>
<div class="separator"><img src="https://2.bp.blogspot.com/-t0Z8-a_DBTE/VYjPWQdA1rI/AAAAAAAAWVM/rQ9MKE0sr_s/s640/b1.jpg" width="640" height="276"></div>
<p> </p>
<div>The ABS series only runs back to September 2003 and thus omits to record Sydney's preceding boom, thereby showing the harbour city as the worst performing capital over the past dozen years.</div>
<p> </p>
<div class="separator"><img src="https://4.bp.blogspot.com/-U8uyH_3_B9Y/VYjPWiHD11I/AAAAAAAAWVQ/WnHe_PsMFAI/s640/b2.jpg" width="640" height="274"></div>
<p> </p>
<div>I'm not really old enough to recall what happened to Aussie house prices in the 1980s.</div>
<div> </div>
<div>Fortunately for anyone who was wondering, Dr. Chris Caton, - Chief Economist of BT Financial - reliably informs me that since 1987 the strongest performing capital city markets have been Sydney, Brisbane, Perth and Melbourne, in that order.<br><br>And believe me Dr. Chris definitely <strong><span style="text-decoration: underline;">is</span> </strong>old enough to remember the 1980s.</div>
<div> </div>
<div class="separator"> </div>
<div class="separator"><img src="https://3.bp.blogspot.com/-AfZ0lf5suEA/VYjm9mkq4jI/AAAAAAAAWWU/u_ZJfql7dTM/s640/chris.jpg" width="640" height="118"></div>
<div>
<br>Thank you kindly, Dr. Chris.<br><br>
</div>
<div><strong><span style="text-decoration: underline;">3 - Total value of dwelling stock</span></strong></div>
<div> </div>
<div>Since September 2011 the total value of New South Wales dwelling stock has powered 37 per cent higher to $2.1 trillion.<br><br>This in turn has helped to drive the total value of Australia's dwelling stock up to $5.5 trillion as at March 2015, a figure which for some reason people like to compare to Australia's Gross Domestic Product (it's 3x), though I haven't yet been able to fathom the relevance of the comparison - except to note that a material correction could of course have a notable impact on the wider economy.</div>
<div>
<br>Perhaps surprisingly, Western Australia is next in line with the value of dwelling stock growing by 21 per cent to $600 billion over the same time period, in part driven by exceptionally strong population growth in the state.</div>
<div> </div>
<div>Victoria (+19 per cent to $1.4 trillion) and Queensland (+14 per cent to $0.9 trillion) have also seen the total value of their respective dwelling stocks increasing in recent years</div>
<div> </div>
<div>The four most populous states have thus accounted for the overwhelming bulk of dwelling value growth in dollar terms over that time since Q3 2011, at a thumping 94.3 per cent of the total.</div>
<p> </p>
<div class="separator"><img src="https://4.bp.blogspot.com/-0P8iH1CscVw/VYjPVX4dK7I/AAAAAAAAWU8/9PJjY7xvgNM/s640/B4.jpg" width="640" height="280"></div>
<p><br><strong><span style="text-decoration: underline;">4 -Mean dwelling prices</span></strong><br><br></p>
<div>Penultimately for today, the mean dwelling price has bolted 13 per cent higher over the past in New South Wales to $712,000.<br><br>Victoria (+4 per cent to $569,100), Queensland (+3 per cent to $462,300) and South Australia (+3 per cent to $416,700) each recorded moderate growth in mean prices.</div>
<p> </p>
<div class="separator"><img src="https://4.bp.blogspot.com/-KqardcBZZuE/VYjPXM6ZwyI/AAAAAAAAWVk/8zLPDLU91Ak/s640/b5.jpg" width="640" height="284"></div>
<p> </p>
<div><strong><span style="text-decoration: underline;">5 - Number of dwellings</span></strong></div>
<div> </div>
<div>Finally, one of the most perplexing pieces of "analysis" to emerge this week concerned an apparent oversupply of dwellings in New South Wales.</div>
<div> </div>
<div>Goodness knows where those figures were plucked from, not that state level figures tell us anything much useful in any case.</div>
<div> </div>
<div>For the record, New South Wales added a grand total of 7,400 dwellings on a net basis in the March quarter (woo!), while the latest population growth statistics show that the state's population growth is bursting at the seams at around 106,400 additional heads per annum (around 85,000 of those in Greater Sydney).</div>
<div> </div>
<div>Over the three years to March 2015 the total number of dwellings in the state of New South Wales has increased by only a net 95,800 to a total of 2,946,100.<br><br>The exact population growth figures for the same period are not yet known, but the figure is likely to end up punching at well over 300,000, with the latest state total population figures implying that the total is now somewhere north of 7.5 million.</div>
<p> </p>
<div class="separator"><img src="https://2.bp.blogspot.com/-TDkH9_dWO2w/VYjPVhkEEaI/AAAAAAAAWVA/312OULIvLhA/s640/B7.jpg" width="640" height="260"></div>
<p> </p>
<div>I'm not sure how one concocts an "oversupply" out of those numbers, particularly given that we were already coming off the back of half a decade of under-building in Sydney.<br><br>Rents have continued to rise in Sydney over the years too, which itself is telling.</div>
<div> </div>
<div>Overall the total number of dwellings increased by 38,200 in Australia in the first quarter to a grand total of 9,491,700.<br><br>This surprisingly implies a slight slowdown in completions in the first quarter given that the net year-on-year increase in dwellings was 162,600.</div>
</body></html>

pwargent-M4siyDbqQY

Housing bloodbath predictions in oversupply: Pete Wargent

<html><body><div class="cq-article-content-paras section">
<p>National house prices rose 1.6 per cent in the three months to March, the latest<span style="line-height: 1.3em;"> Australian Bureau of Statistics figures show.</span></p>
<div class="cq-article-content-paras section">
<p>Sydney was streets ahead with home values up 3.1 per cent, the latest official figures show.</p>
<p>Canberra had the next strongest quarter-on-quarter growth, with values rising 1.1 per cent in <span style="line-height: 1.3em;">the March quarter.</span></p>
<p>Prices rose 0.7 per cent in Adelaide, 0.6 per cent in Melbourne, 0.5 per cent in Hobart and 0.4 per cent in Brisbane.</p>
<p>They fell 0.1 per cent in Perth and 0.2 per cent in Darwin. </p>
<p><span style="line-height: 1.3em;">Across the eight capital cities values rose 6.9 per cent, with Sydney jumping 13.1 per cent. </span></p>
<p><span style="line-height: 1.3em;">APM senior economist Dr Andrew Wilson noted recent </span><span style="line-height: 1.3em;">ABS data </span>also<span style="line-height: 1.3em;"> reported increased activity by investors as a key driver of Sydney’s red-hot housing market. </span></p>
<p><span style="line-height: 1.3em;">"Despite the distractions of Easter and ANZAC Day, $6.2bn in residential investor finance was approved over April in NSW – the third highest monthly total on record and just behind the record $6.3bn set over March. </span></p>
<p><span style="line-height: 1.3em;">"The proportion of investor finance to total residential has however set a new record at 61.8 percent.</span></p>
<p> </p>
<div><span style="line-height: 1.3em;">"First home buyer lending activity in NSW however fell sharply over April for a market share of just 6.5 percent, the second lowest on record and well below the long-term average of 13.6 percent," Dr Wilson noted.</span></div>
<p> </p>
</div>
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jchancellor-FAypfDUnLy

ABS confirms Sydney streets ahead of other capital cities in March quarter house price growth

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<p>As someone who works analysing housing markets every day it is good to see that housing policy is back on the agenda especially considering that we currently don’t have a Federal Housing Minister.  The lack of a Housing Minister at the Federal level is intriguing when you look at some of the statistics relative to the housing market.</p>
<p>According to CoreLogic RP Data the total value of residential property at the end of May 2015 was $5.9 trillion.  To put this in perspective, gross domestic product (GDP) for Australian was recorded at $1.587 trillion over the 12 months to March 2015. </p>
<p>The Australian Bureau of Statistics’ housing finance data showed that as at April 2015 there was $1.392 trillion in outstanding mortgage debt to Australian banks, building societies and credit unions.  Meanwhile, the share market garners plenty of attention, as at April 2015 the market capitalisation of listed domestic equities was $1.693 trillion.  Based on this data it would be fair to say that housing is Australia’s largest and arguably most important asset class. </p>
<p>Even the value of Superannuation clocks in at a much lower $2 trillion, nearly three times smaller than the overall value of housing.</p>
<p>Given the importance of shelter and the runaway growth currently being experienced in Sydney and, to a lesser degree, Melbourne home values, it is no wonder that housing is becoming a politically very sensitive topic.  In particular negative gearing has become a topic of plenty of debate over the past few weeks. </p>
<p>While the current Government have ruled out changes to negative gearing, both the Labor and Green parties are highlighting potential changes to their policies.</p>
<p>Negative gearing allows owners of investment properties to offset their expenses (losses) against their taxable income and as a result it can reduce their taxable income.  While this most certainly makes investment attractive the suggestion that negative gearing alone drives up the cost of housing is somewhat debatable.</p>
<p><img class="aligncenter size-full wp-image-4979" src="https://blog.corelogic.com.au/wp-content/uploads/2015/06/Chart-12.jpg" alt="Chart 1" width="500" height="180"></p>
<p>The above chart shows the total value of net rent claimed by individual taxpayers by financial year up to 2012-13.  Net rent is gross rent minus applicable deductions such as rental interest, depreciation and costs such as capital works.  What you will immediately note is that prior to 1999-00 the net profit or loss made from rent was fairly negligible. </p>
<p>The Federal Government made changes to capital gains tax in September 1999 and this has seemingly helped to make negative gearing much more attractive than it was previously.  In September 1999 the Federal Government made changes which offered investors a 50% discount on capital gains tax when they sold their property if they held their investment for at least 12 months. </p>
<p>As the first chart shows, since thes 1999-00 financial year net rental losses have spiked.  This would seem to suggest that the 50% discount to capital gains tax has conspired to make negative gearing of residential property a much more attractive investment option.</p>
<p><img class="aligncenter size-full wp-image-4980" src="https://blog.corelogic.com.au/wp-content/uploads/2015/06/Chart-22.jpg" alt="Chart 2" width="500" height="110"></p>
<p>If we take a look at the most recent financial year’s taxation data available there are some interesting statistics about negative gearing and who is claiming the benefit. In terms of the number of individuals claiming net rent, 68.9% of claimants had a taxable income of less than $80,000. </p>
<p>While more taxpayers with a taxable income of less than $80,000 claim net rent losses, only 13.1% of all individuals with a taxable income below $80,000. </p>
<p>On the other hand, more than a quarter (25.8%) of all taxpayers with an income of more than $80,000 claimed net rent.  In terms of the value of these losses, individuals earning less than $80,000 claimed rental losses of $2.781 billion or an average of $2,050 per claimant.  Individuals earning more than $80,000 claimed $2.613 billion in rental losses at an average of $4,276 per claimant. </p>
<p>More people on incomes below $80,000 claim rental income but that is largely due to the fact that 81% of taxpayers had a taxable income of less than $80,000.  Conversely, a greater proportion of total higher income earners own rental properties and the typical losses claimed from these properties are much larger than those with taxable incomes below $80,000.</p>
<p><img class="aligncenter size-full wp-image-4981" src="https://blog.corelogic.com.au/wp-content/uploads/2015/06/Chart-32.jpg" alt="Chart 3" width="500" height="182"></p>
<p>In my opinion negative gearing is essentially a way in which the Government outsources social housing to the private sector or at least this should be how it works.  If we take a look at dwelling approvals data you can see that very few new approvals have been granted to the public sector over the past three decades. </p>
<p>Typically more than 90% of all dwelling approvals over any month are granted to the privates sector with very few being approved and ultimately constructed by the public sector.  Ultimately the private sector takes on the role of construction of homes and it appears private citizens are incentivised to provide rental accommodation via the provision of negative gearing. </p>
<p>If negative gearing were removed no doubt housing would still be an attractive investment for some who are seeking to be positively geared however, you may find that fewer people are attracted to housing as an investment option because of the absence of the tax deductions which negative gearing provides.</p>
<p>The data shows that a greater number of people on lower taxable incomes claim rental losses than those on higher incomes however, as a proportion of total taxpayers a greater proportion of high income earners claim rental losses and the value of these losses is greater for higher income earners.  The longer term net rental losses chart indicates that negative gearing alone didn’t really result in a high level on net rental losses however, when the capital gains tax discount was halved that seemingly made negative gearing much more attractive and the losses began to add up.</p>
<p>While scrapping negative gearing would likely provide a saving to the Budget bottom line, I believe it is unlikely to result in the substantial improvement in housing affordability that many are hoping for.  Arguably removing the capital gains discount which was introduced after negative gearing is a good first step to addressing the problems and then Government can revisit negative gearing.</p>
<p>The housing market has many moving parts that result in relatively expensive housing prices here in Australia.  While the removal of negative gearing may help improve the Budget bottom line it is unlikely to be the silver bullet which improves housing affordability. </p>
<p>Zoning restrictions on developable land which drive up the cost of housing, the tax-free nature of the family home, stamp duty, the mass-centralisation of our population and shortage of jobs away from the major capital cities all conspire to make housing less affordable. </p>
<p>Any discussion about improving housing affordability shouldn’t solely focus on just one of the issues such as negative gearing rather it needs to look at all of the factors which contribute to high housing costs.</p>
<p>Cameron Kusher is RP Data’s senior research analyst. Follow Cameron on Twitter <a href="https://twitter.com/cmkusher" target="_blank">here</a>. </p>
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ckusher-ujnxiKuFQs

CGT 50% discount spiked negative attractiveness as investment option: Cameron Kusher

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<h3 class="post-title entry-title"><strong style="color: #333333; font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12px; line-height: 1.3em;"><span style="text-decoration: underline;">Consumption and deleveraging</span></strong></h3>
<div id="post-body-7004125540055073165" class="post-body entry-content">
<div> </div>
<div>An interesting speech from Dr. Christopher Kent, Assistant Governor of the Reserve Bank of Australia (RBA) in Canberra.</div>
<div> </div>
<div>The speech noted that household consumption has responded to low interest rates since 2013, but in a less strong manner than might have been expected.<br><br>Let's take a look at three of the main observations raised...<br><br><strong><span style="text-decoration: underline;">Part 1 - The balance sheet and wealth channels ("aka. Equity withdrawal, mate")</span></strong>
</div>
<div> </div>
<div>One of the drivers for a less strong consumption response through this cycle has been the diminished role of housing equity withdrawal.</div>
<div> </div>
<div>In the first half of the 2000s households withdrew significant equity to finance their consumption, but this no longer appears to be occurring on such a widespread basis, according to the Reserve Bank's data.</div>
<div> </div>
<div>In fact in recent years household net spending on assets has exceeding borrowing.</div>
<div> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-B1H_R0K_1UU/VX692piqWgI/AAAAAAAAWIA/fZS-HIftYAY/s400/RBA1.jpg" width="365" height="400"></div>
<div class="separator"> </div>
<div class="separator">The evidence here suggests that the so-termed "wealth channel" - rising household wealth boosting consumption - has not been as effective to date as in cycles past.</div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">Part 2 - The cash-flow channel - household balance sheets and buffers</span></strong></div>
<div class="separator"> </div>
<div class="separator">Of course, it is well known that Australian households are net borrowers on average. </div>
<div class="separator"> </div>
<div class="separator">However, the RBA's figures also show that while households' interest earning assets (such as bank deposits) have risen strongly as a share of disposable income over recent years - even exclusive of superannuation - interest bearing liabilities have not.</div>
<div class="separator"> </div>
<div class="separator">In fact, household liabilities as a share of household disposable incomes have been steady for some years now.</div>
<div class="separator"> </div>
<div class="separator"><img src="https://1.bp.blogspot.com/-ZUlS798T_sM/VX6_I-lCS6I/AAAAAAAAWIo/JSStEaFE5C0/s400/RBA6.jpg" width="365" height="400"></div>
<div class="separator"> </div>
<div class="separator">How so? This is thanks in part to record low borrowing rates, with aggregate mortgage buffers apparently soaring to record levels and many households evidently electing to pay down their debt faster, known as "deleveraging".</div>
<div class="separator"> </div>
<div class="separator">I believe that this is in part due a mechanism whereby mortgage repayments are held steady even in the event of downward adjustments to interest rates on variable rate products, something which is perhaps unique to Australia.</div>
<div class="separator"> </div>
<div class="separator">Average mortgage prepayments are rapidly approaching an incredible 30 months, while as a share of housing loans outstanding aggregate mortgage buffers have soared to well over 15 per cent, which is remarkable if true.</div>
<div class="separator"> </div>
<div class="separator">In short, through this interest rate easing cycle more households appear to have moved further ahead on their mortgage repayments.</div>
<div> </div>
<div class="separator"><img src="https://3.bp.blogspot.com/-_GJEDSZ7SqE/VX692rQKzvI/AAAAAAAAWIE/9XIu_L5yvgE/s400/RBA2.jpg" width="400" height="336"></div>
<br><div class="separator">It is often said that Australians are holding "record high" household debt, but the Reserve Bank charts claim that this fails to acknowledge the increasing role of offset accounts and investor credit.</div>
<div> </div>
<div>When offsets and credit are included in the statistics household credit as a percentage of household income has actually declined by 4 percentage points over the past half decade, noted Dr. Kent.</div>
<br><div class="separator"><img src="https://1.bp.blogspot.com/-ylZP5atiPzc/VX693VMvFDI/AAAAAAAAWIM/zo96JKlK40g/s400/RBA4.jpg" width="372" height="400"></div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">Part 3 - The supply side</span></strong></div>
<div class="separator"> </div>
<div class="separator">As is typical, dwelling construction, being the most interest rate sensitive sector of the Australian economy, is responding strongly to easier monetary policy, with building approvals now at their highest level on record and dwelling investment up by 9 per cent over the past year.</div>
<div class="separator"> </div>
<div class="separator">This will likely put downward pressure on apartment rents and prices in some regions.</div>
<div class="separator"> </div>
<div> </div>
<div>However, one eminent challenge is that the supply of greenfield land in the Sydney region (inclusive of Newcastle and Wollongong) in particular, and also in south-east Queensland (Brisbane, Gold Coast, Sunshine Coast), has plummeted to extremely low levels, which is putting significant upwards pressure on land values.</div>
<div> </div>
<div>In Sydney the stock of suitable sites for apartments has been depleted too in recent years.<br><br>With a dearth of suitable sites to build either houses or apartments, the Reserve notes the risk of a material spike in dwelling prices caused by the inadequate supply.</div>
<div class="separator"><img src="https://4.bp.blogspot.com/-4HOM_XSDTV0/VX692otsOCI/AAAAAAAAWII/ktRH_sGI00Y/s400/RBA3.jpg" width="386" height="400"></div>
<div class="separator"> </div>
<div class="separator"><span>A parallel challenge is that with the residential construction industry pushing towards full capacity, this is likely to result in inflation of land and construction work, potentially "<em>pushing up the prices of new and existing dwellings, </em><span><em>via increases in land prices, construction wages, developers' margins or some combination of all three</em>"</span>.</span></div>
<div class="separator"> </div>
<div class="separator">While labour shortages have not bitten particularly hard to date despite some skills shortages arising, rising demand for building materials has already pushed the rate of inflation for new dwelling costs fully two points above its average for the inflation-targeting period (i.e. since 1993).</div>
<div class="separator"> </div>
<div class="separator">This is somewhat agitating since the residential construction boom is still in its infancy, relatively speaking.</div>
<div class="separator"> </div>
<div>Furthermore, alterations and additions (i.e. major renovations work) could easily pick up further, further accentuating materials shortages.</div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div class="separator"> </div>
<div class="separator">Dr. Kent's speech concluded that consumption has picked up in Australia since 2013, and monetary policy is working as it should, to some extent.</div>
<div class="separator"> </div>
<div class="separator">However, many households are also electing to pay down their debts faster, and this is having some dampening effect on the strength of the consumption response experienced to date.</div>
<div class="separator"> </div>
<div class="separator">
<em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br><p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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RBA suggests squeezed land supply could spike prices: Pete Wargent

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<p>A first-home buyer - on their own - technically needs to earn about $152,000 a year to afford the median $752,000 Sydney dwelling.</p>
<p>It would take $115,000 in Melbourne and $111,000 in Canberra.</p>
<p>A single first-home buyer would need to earn $103,000 in Perth, $93,000 in Brisbane and $81,000 in Adelaide.</p>
<p><span>Affordability was better for couples buying a house together, <span>The Australian Financial Review</span><span>, using methodology from the University of NSW, added.</span></span></p>
<p>The salary required to make mortgage payment was based on the median dwelling price of each capital city in May from CoreLogic RP Data.</p>
<p>It assumed first-home buyers would put down 10 per cent as a deposit, and yardstick 30 per cent of their before-tax salary would go towards mortgage payment over 30 years, at a current standard variable rate of 5.38 per cent.</p>
<p><span>The common definition of "mortgage stress" among housing experts is spending more than 30 per cent of a salary on home loan repayments.</span></p>
<p>Ofcourse most first time buyers have historically directed more than 30% towards their mortgage as they stretch a little to get onto the ladder, and also most were never typically expected to actually start with a purchase at the Sydney median price.</p>
<p><span>Retailer Gerry Harvey has been recalling the time when a newly­wed couple achieved local fame when they bought a home straight after marrying!</span></p>
<p><span>Sydney prices are actually more affordable than in the booms of 1989 or 2004.</span></p>
<p><span><span>Indeed in 2004, the figure was 41 per cent, according to analysts BIS Shrapnel. </span></span></p>
<p><span><span>Even before the more recent global financial crisis, when mortgage interest rates headed towards 10 per cent, the requirement was 39 per cent.</span></span></p>
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A $152,000 salary - what an upstart Sydney median first home buyer needs 

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<h1><strong style="color: #333333; font-family: Tahoma, Helvetica, Arial, sans-serif; font-size: 12px; line-height: 1.3em;">Treasurer Joe Hockey's comments at today's press conference - in complete context - on Sydney housing affordability are published by <em>Property Observer</em>.</strong></h1>
<p><strong>JOURNALIST:</strong></p>
<p>Treasurer do you accept that housing in Sydney is unaffordable and the only way we’re going to make it affordable is if real house prices in real terms actually fall over the near term?</p>
<p><strong>TREASURER:</strong></p>
<p>No. Look, if housing were unaffordable in Sydney, no one would be buying it. People are purchasing housing in Sydney, it’s expensive. As a multiple of average weekly earnings it is expensive, it’s an expensive city to live in. It’s my home city, it’s an expensive city. But, having said that, you know a lot of people would much rather have their homes go up in value than fall in value. Why? Because when you take out a mortgage, the mortgage is against the assessed value of that particular point in time, whatever’s leftover is your equity in the property. If your equity builds in the property not only is that to your financial benefit, but it also gives you the opportunity to borrow against that if you choose to do so for a small business. A lot of small businesspeople are borrowing against the equity in their homes in order to start up their business or build their business. Now, to have increasing equity in a home is a good thing, that’s a very good thing. Interest rates are at record lows. So if property is proving unaffordable for people with interest rates at record lows, then they should think carefully about how much they really can borrow, because you should always plan on in this situation interest rates potentially going up over the long term.  So, you’ve got to be careful, it is a big financial risk to buy your own home. We want to make it easier. There are a suite of initiatives we have in place in regard to that, but most obviously, the best way to address inflated house prices in Sydney is to build more properties, build more properties.</p>
<p><strong>JOURNALIST:</strong></p>
<p>You say that housing is affordable, but what about for first home buyers who can’t get on the property ladder, those people that don’t have access to equity in other properties?</p>
<p><strong>TREASURER:</strong></p>
<p>Well there are a range of incentives that have been put in place by state governments and others in relation to first home buyers. The starting point for a first home buyer is to get a good job that pays good money. If you’ve got a good job and it pays good money and you have security in relation to that job, then you can go to the bank and you can borrow money and that’s readily affordable. More affordable than ever to borrow money for a first home now than it has ever been. But, the response for first home buyers is to build more properties. I know, it’s a difficult concept for some to get their heads around, supply and demand, but it’s not that complicated. If you increase supply to meet the demand, then obviously you won’t get the growth in property prices that you may have thought if you have less supply.</p>
<p> </p>
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Treasurer Joe Hockey on affordability - the risk, reward and reality when it comes to buying in Sydney

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<p>When considering the current surge in Sydney and Melbourne home values, it is worthwhile revisiting how strong conditions were during the housing boom of 2001 through to 2004.</p>
<p>Although the rate of capital growth in Sydney and to a lesser degree Melbourne is strong it is nowhere near as strong as the rapid home value growth recorded between 2001 and 2004.</p>
<p>At the beginning of 2001 the rate of growth in home values began to accelerate.</p>
<p>The pick-up in value growth began in Sydney and Melbourne and then flowed through to the other capital cities. A major difference between the post-2000 growth phase and the current growth phase is that the post-2000 phase was not preceded by falls in home values.</p>
<p>Another major difference is of course that the growth post-2000 was broad-based whereas the current growth in home values has been narrow, largely focussed on Sydney and Melbourne.</p>
<p>Finally household debt levels were substantially lower in 2001 than they are now, which is likely another major contributor to the stronger increase in home values then compared to now.</p>
<p>The previous growth phase is widely accepted to have commenced at the end of 2000 however, the commencement of the current rises in values has varied across each city.</p>
<h3>Sydney</h3>
<p>Home values began rising from May-12 and have increased by 38.8%, over the same period post-2000 they had risen by 60.2%.</p>
<p align="center"><strong>Sydney value growth 2001-04 vs. current growth</strong></p>
<p align="center"><img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-06-01--property-pulse-sydney.jpg"></p>
<p> </p>
<h3>Melbourne</h3>
<p>Home values began rising from May-12 and have increased by 23.6% compared to 58.0% over the same period post-2000.</p>
<p align="center"><strong>Melbourne value growth 2001-04 vs. current growth</strong></p>
<p align="center"><img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-06-01--property-pulse-melbourne.jpg"></p>
<p> </p>
<h3>Brisbane</h3>
<p>Home values reached a low point in May-12 and have since increased by 10.9%, in comparison home values had increased by 91.5% over the same timeframe post-2000.</p>
<p align="center"><strong>Brisbane value growth 2001-04 vs. current growth</strong></p>
<p align="center"><img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-06-01--property-pulse-brisbane.jpg"></p>
<p> </p>
<h3>Adelaide</h3>
<p>Home values reached a recent low point in Mar-12 and have since increased 7.0%, in the post-2000 growth phase values had increased by 74.6% over the same timeframe.</p>
<p align="center"><strong>Adelaide value growth 2001-04 vs. current growth</strong></p>
<p align="center"><img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-06-01--property-pulse-adelaide.jpg"></p>
<p> </p>
<h3>Perth</h3>
<p>Home values started rising from Oct-11 and have risen by 14.5% to Apr-14, over the same timeframe post-2000 home values had increased by 55.4%.</p>
<p align="center"><strong>Perth value growth 2001-04 vs. current growth</strong></p>
<p align="center"><img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-06-01--property-pulse-perth.jpg"></p>
<p> </p>
<h3>Hobart</h3>
<p>Home values reached a low point in Nov-13 and have increased by 8.9% compared to a 16.7% increase over the same timeframe after 2000.</p>
<p align="center"><strong>Hobart value growth 2001-04 vs. current growth</strong></p>
<p align="center"><img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-06-01--property-pulse-hobart.jpg"></p>
<p> </p>
<h3>Darwin</h3>
<p>Home values hit a low point in Jan-12 and have since risen by 17.3%, over the same timeframe post-2000 home values in the city rose 22.1%.</p>
<p align="center"><strong>Darwin value growth 2001-04 vs. current growth</strong></p>
<p align="center"><img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-06-01--property-pulse-darwin.jpg"></p>
<p> </p>
<h3>Canberra</h3>
<p>Home values have been rising since the end of Jan-12 and have increased by 8.5% compared to 96.3% over the same timeframe post-2000.</p>
<p align="center"><strong>Canberra value growth 2001-04 vs. current growth</strong></p>
<p align="center"><img src="https://www.corelogic.com.au/resources/property-pulse/article-graphs-img/2015-06-01--property-pulse-canberra.jpg"></p>
<p><br><br></p>
<p>The data shows that Sydney and Melbourne are the stand-out cities for capital growth currently. More importantly, the rate of capital growth over recent years across each capital city is significantly lower than over the same timeframe from 2001 onwards. In fact, Hobart and Darwin are the only capital cities in which the post-2000 level of capital growth is even close to the current level of capital growth. </p>
<p> </p>
<p>Article by Cameron Kusher, CoreLogic RP Data senior research analyst.</p>
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Is this a house price boom? Comparing the 2015 with 2001 to 2004: Cameron Kusher

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<p>There were just five chances to buy under $500,000 across Sydney last weekend, on May 30.</p>
<p>10/22 Nagle Street, Liverpool $336,000 - a two bedroom unit (below) was the cheapest.</p>
<p><a href="https://www.realestate.com.au/photogallery_new.ds?id=119670199&amp;theme=rea.buy" rel="photos" data-id="119670199"><img src="https://i1.au.reastatic.net/456x342/defb7ae0bac81e6df0af5daa0ebd987515ddfdc117147de4f6c13f05a2106c54/main.jpg" alt="10/22 Nagle St, Liverpool" title="10/22 Nagle St, Liverpool" data-index="0"></a></p>
<p>Property Observer gleans the LJ Hooker Liverpool agent Pat Bugge sold it to an investor. It was up for rent last August at $290 a week, reflecting a 4.5% yield.</p>
<p>The block's previous highest two bedroom sale was $321,000 in early 2015, then put up for rent at $300 a week.</p>
<p>Then followed:</p>
<p>3/136 Sproule Street, Lakemba $380,000 - a two bedroom unit which last sold at $275,000 in April 2013.</p>
<p>6/21 Marlene Cr, Greenacre $405,000 - a two bedroom 62 sqm 1975 unit which last sold at $250,000 in October 2009. The landlord had been seeking $340 a week rental. </p>
<p>39/103 Longfield Street, Cabramatta $425,000 -a three bedroom unit last sold at $88,000 in 1997. It was up for $350 a week rental late last year.</p>
<p>14/1099 Botany Road, Mascot $452,000 - a one bedroom unit that last sold in 1991 at $90,000. </p>
<p> </p>
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Liverpool led the five cheapest sub-$500,000 Sydney weekend purchasing opportunities

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<p><span style="line-height: 1.3em;">CoreLogic RP Data have looked at the most affordable regional suburbs for units in Australia.</span></p>
<p>1) <a href="/news"><strong>Manunda</strong></a><span>, Cairns, Far North QLD</span></p>
<p><span>2) </span><a href="/news"><strong>Mildura</strong></a><span>, Mildura, Mallee, VIC</span></p>
<p><span>3) </span><a href="/news"><strong>Cairns North</strong></a><span>, Cairns, Far North, QLD</span></p>
<p><span>4) </span><a href="/news"><strong>Merimbula</strong></a><span>, Bega Valley, South Eastern, NSW</span></p>
<p><span>5) </span><a href="/news"><strong>Port Douglas</strong></a><span>, Douglas, Far North, QLD</span></p>
<p><span>6) </span><a href="/news"><strong>Trinity Beach</strong></a><span>, Cairns, Far North, QLD</span></p>
<p><span style="line-height: 1.3em;">7) </span><a href="/news"><strong style="line-height: 1.3em;">Warrnambool</strong></a><span style="line-height: 1.3em;">, Western District, VIC</span></p>
<p><span>8) </span><a href="/news"><strong>Tuncurry</strong></a><span>, Great Lakes, Hunter, NSW</span></p>
<p>9) <a href="/news"><strong>Coffs Harbour</strong>,</a> Mid-North Coast, NSW</p>
<p>10) <a href="/news"><strong>Port Macquarie</strong></a><span>, Port Macquarie-Hastings, Mid-North Coast, NSW</span></p>
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