<p>Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.</p>

<p>Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;</p>

<p>David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;</p>

<p>“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;</p>

<p>[smartcode_project:default project_id=110291 project_image_fid=302785]</p>

<h2>Affordable product leads, premium demand remains resilient</h2>

<p>Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;</p>

<p>Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;</p>

<p>At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.</p>

<p>Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.</p>

<p>Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;</p>

<p>[smartcode_project:default project_id=148957 project_image_fid=364102]</p>

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

<p>Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.</p>

<p>David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.</p>

<p>“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;</p>

<p>Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.</p>

<p>[smartcode_project:default project_id=108869 project_image_fid=317905]</p>

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

<p>While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;</p>

<p>Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;</p>

<p>However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.</p>

<p>Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;</p>


Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<p><a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.</p>

<p>The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.</p>

<p>Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.</p>

<p>“Brisbane was the right step for Sammut,” Sammut said.</p>

<p>“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”</p>

<p><img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" /></p>

<p>Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.</p>

<p>The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.</p>

<p>“We are DA approved now which is very exciting,” Sammut said.</p>

<p>“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”</p>

<p><img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" /></p>

<p>Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.</p>

<p>“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.</p>

<p>The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.</p>

<p>“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”</p>

<p>The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.</p>

<p>The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.</p>


Sammut secures approval for debut Brisbane apartment development in Toowong

<p>Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.</p>

<p>Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.</p>

<p>The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.</p>

<p>“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.</p>

<p>“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.</p>

<p>“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”</p>

<p>The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.</p>

<p>“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”</p>

<p>From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.</p>

<p>“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”</p>

<p>The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.</p>

<p>“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.</p>

<p>Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.</p>

<p>“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.</p>

<p>“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”</p>

<p>The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.</p>

<p>“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.</p>

<p>Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.</p>

<p>&nbsp;</p>


Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

<p>Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.</p>

<p>The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.</p>

<p>It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.</p>

<p>With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.</p>

<p>“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.</p>

<p>“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”</p>

<p><img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" /></p>

<p>GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.</p>

<p>“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”</p>

<p>Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.</p>

<p>“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.</p>

<p><img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" /></p>

<p>&nbsp;</p>

<p>One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.</p>

<p>Green praised local policy settings.</p>

<p>“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”</p>

<p>One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.</p>

<p>“The way we will be able to achieve economies of scale is through size,” Green added.</p>


One Living enters Sydney's new apartment market with Northern Beaches site acquisition

<p>It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.</p>

<p>Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.</p>

<p>Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be</p>

<p data-end="683" data-start="511">"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.</p>

<p data-end="882" data-start="690">"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."</p>

<p data-end="882" data-start="690">[smartcode_project:default project_id=134646 project_image_fid=6109]</p>

<p>The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.</p>

<p>The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.</p>

<p>Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.</p>

<p>[smartcode_project:default project_id=134646 project_image_fid=6110]</p>

<p>Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.</p>

<p>The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.</p>

<p>[smartcode_project:default project_id=134646 project_image_fid=6116]</p>

<p data-end="247" data-is-last-node="" data-is-only-node="" data-start="0">While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.</p>

<p>WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.</p>

<p>With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.</p>

<p>[smartcode_project_cta:default project_id=134646]</p>


WM Residences fills gap in Mordialloc townhouse market

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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