The residential transformation of St Kilda Road is set to continue into with more new apartment plans for the sought-after boulevard.

Wing Tai Asia has lodged plans for a major residential tower at 464-466 St Kilda Road, replacing the former VACC House with an 18-storey mixed-use development designed around a retained heritage podium and a sculpted contemporary tower.

The proposal, prepared under Victoria’s Significant Residential Development with Affordable Housing pathway, would deliver 325 apartments and ground-floor retail across the prominent 4,653 sqm boulevard site in Melbourne’s St Kilda Road North Precinct.

The project centres on the adaptive reuse of the site’s heritage-listed VACC Building, an eight-storey office designed by Bernard Evans that has occupied the address for decades. Planning documents state the development would involve “carefully dismantling and conserving off-site the original metal fabric of the podium visible from St Kilda Road,” before reinstating it as the defining frontage of the new scheme.

Above the restored podium, Wing Tai is proposing a curvilinear residential tower. The scheme includes 172 one-bedroom apartments, 63 two-bedroom apartments, 66 three-bedroom apartments, and 24 four-bedroom apartments, alongside two ground-floor food and beverage tenancies fronting St Kilda Road.

The tower has been designed with substantial articulation and variable setbacks to minimise perceived bulk and maintain view corridors along the boulevard. Urbis, which prepared the planning report, said the design “has been significantly articulated through a curvilinear design” with “an interplay with materials, façade expression and depth” to create visual separation and visual interest.

The proposal also includes 254 basement car spaces, landscaped pedestrian links connecting St Kilda Road and Queens Lane, and a biophilic landscape strategy featuring canopy trees, raised planters, cascading greenery and a glass oculus pool overlooking the eastern frontage.

Planning documents confirm the $270.1 million development will contribute 3 per cent of project costs to the Social Housing Growth Fund as part of the application process.

Wing Tai acquired the St Kilda Road property in 2018 alongside Abacus Property Group for $95.38 million, before later consolidating ownership of the site. The property previously served as the Victorian Automobile Chamber of Commerce headquarters for around 60 years.

The transformation of the St Kilda Rd boulevard is already beginning to materialise, with a number of high-profile projects recently completed, launched, or approaching launch as developers continue to back the long-term appeal of the precinct.

Among the most notable recent completions is Louise by Samuel Property Group, just off the strip on Queens Lane, the same pocket Hirsch &amp; Faigen recently launched The Queensbury. Mirvac is too on the same street with The Albertine, which is approaching completion.

Dexus recently secured approval for its slice of St Kilda Road, while Gurner also has approved plans for the precinct.

Joel Robinson

Wing Tai unveils 325-apartment St Kilda Road tower on former VACC House site

Malaysian developer <a href="https://www.apartments.com.au/developers/s-p-setia">SP Setia</a> is the latest to jump into St Leonards booming Transport Oriented Development precinct.

The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new&nbsp;40-storey mixed-use tower.

The State Significant Development Application covers <a href="https://next-portal.urban.com.au/projects/14650/summary">20-22 Atchison Street</a>, a 1,374 sqm site positioned between St Leonards Station and the new Crows Nest Metro station.

Designed by <a href="https://www.apartments.com.au/architects/cox-architecture">COX Architecture</a>, the project would deliver 181 apartments, above a four-storey commercial podium, five basement levels, and new public domain works along Mitchell Street. The apartment mix comprises 35 one-bedroom apartments, 39 one-bedroom-plus-study apartments, 85 two-bedroom apartments, and 22 three-bedroom residences.

The proposal has been lodged as a shop-top housing development under the NSW Government’s TOD planning pathway, which allows increased density around key transport infrastructure. The site sits within the recently rezoned Crows Nest Accelerated TOD Precinct.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b799673d-48e2-46b0-801a-0e33a9330100" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20site.png?VersionId=dPh0UfwfaHpbFL1R7H1cbZNbIW0CHbCC" />

SP Setia acquired the Atchison Street site as part of its continued expansion into the Australian apartment market. In comments made to City &amp; Country (The Edge Malaysia) in 2023, SP Setia President and CEO Datuk Choong Kai Wai described the acquisition as “a strategic move” aligned with the group’s post-pandemic market recovery strategy.

“Our target for this exceptional development is local and overseas buyers, including first-home buyers, downsizers and investors,” Choong said.

The tower has been designed as a slender vertical form rising from a mixed-use podium, with COX Architecture positioning the development as a response to the evolving St Leonards and Crows Nest skyline.

“The purpose of the project is to facilitate the delivery of high-quality housing at a strategically located site and deliver a built tower outcome that is consistent with the desired future character of St Leonards and aligns with the TOD controls,” the design report stated.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="b1a85eee-76f7-436c-a6da-73ba827b9b13" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/atchinson%20entry.png?VersionId=dA9jHGPMcm.dDbwk4QfxqWiY5bfh3UVt" />

The podium would incorporate retail uses fronting Atchison Street, commercial tenancies, landscaped communal areas, and pedestrian improvements along Mitchell Street. Vehicle access and loading would be consolidated via Atchison Lane.

Residents would have access to more than 665 sqm of communal indoor and outdoor spaces, while the development proposes 96 parking spaces across five basement levels.

The proposal also includes a commitment for 10 per cent of residential floor space to be allocated toward affordable housing through a monetary contribution.

COX said the tower form responds directly to the emerging high-density character of the precinct while seeking to maximise solar access, cross ventilation, and outlook from apartments.

<img alt="First look: SP Setia targets St Leonards skyline with 40-storey TOD tower" data-entity-type="file" data-entity-uuid="2163f85c-f63b-4be3-aafa-f8763976cec5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_5.png?VersionId=WiAmtIKJ6.ZQ41EtYEQ1fol7AeorKBlL" />

“The building is orientated towards north,” the Apartment Design Guide compliance report noted, adding that the tower’s slim form was driven by the constrained inner-urban site dimensions.

The design also incorporates landscaped setbacks and communal open space at podium level, intended to soften the interface with surrounding streets and improve pedestrian amenity.

The project adds to a growing wave of redevelopment proposals reshaping St Leonards and Crows Nest following the opening of the Sydney Metro City line and the NSW Government’s push for higher-density housing around major transport nodes.

Last week Stockland filed plans just down the road. They want to build a <a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">52-storey tower on Pacific Highway</a>.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-stockland-plans-52-storey-538-apartment-st-leonards-tower">First look: Stockland plans 52-storey, 538-apartment St Leonards tower&nbsp;</a>

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower

<a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

The State Significant Development proposal, now on exhibition, seeks approval for a <a href="https://www.apartments.com.au/new-apartments/bowline-10-dangar-street-wickham-nsw-2293">43-storey tower</a> immediately adjacent to the Newcastle Interchange. The project would deliver around 200 apartments, including 42 affordable housing dwellings, alongside 99 co-living units, a 171-room hotel, retail space, and new public domain integrated through the site.

The scheme marks a significant escalation of plans previously approved for the site. Urban Property Group took over the prominent 2,904 sqm parcel, where excavation and demolition had already commenced under an earlier consent for a 14-storey mixed-use development.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="58a96dd9-407f-4d20-86b4-94e4bfeef74b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20podium.png?VersionId=LGlf08pdFGAZDzvx_CXC4XakHNZRuEE0" />

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, the tower has been conceived as a landmark transit-oriented development anchored to the Newcastle Interchange precinct. The proposal includes 245 build-to-sell apartments across a mix of one, two, and three-bedroom residences, as well as two penthouses. Fifteen apartments and one operational unit are earmarked for NDIS housing. The co-living component would add a further 99 units, while the podium would accommodate retail uses and hotel facilities.

SJB said the site presents “a valuable opportunity to anchor the precinct by setting the standard for design, active ground planes and character at the key southern gateway.”

The architecture responds directly to the site’s position beside major transport infrastructure and within one of Newcastle’s fastest-evolving urban renewal precincts. The tower form sits above a sculpted podium designed to frame new public spaces, including a through-site pedestrian link connecting Station Street to Hannell Street, landscaped plazas, and activated retail edges.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="a7bd6ff0-f7db-4ce8-a6dc-ea56e72c6149" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20lanne.png?VersionId=xzf39VADyhj7zBQY2I9fx9vI62u2tuSb" />

The design report describes the project as part of the broader transition of Wickham into “a vibrant, high-quality mixed-use urban precinct” that leverages proximity to the station, open space, and regional connectivity.

A detailed public art strategy has also been prepared for the development. The strategy positions the project as “a transit-oriented development of state significance at the gateway to Newcastle’s city centre” and outlines a series of integrated artworks responding to Newcastle’s industrial and transport heritage.

Creative Road’s curatorial framework for the project, titled Unveil, draws on “stratified surfaces, carved volumes, and light-filled apertures” while referencing Newcastle’s transformation from an industrial city into a contemporary education and technology hub.

<img alt="First look: Urban Property Group unveils Newcastle’s next supertower at Wickham interchange" data-entity-type="file" data-entity-uuid="77a882bb-14b1-4d28-99ff-9438e39508c0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/wickham%20site.png?VersionId=cevgo_vN0eKPK78P8YcEu3mKPLkpFqE7" />

The proposal is being advanced through the NSW Housing Delivery Authority pathway after being declared State Significant Development in June 2025. The accompanying scoping report states the development aims to “maximise the site’s proximity to the Newcastle Interchange by delivering transit-oriented development” while increasing housing supply and affordable housing provision within the Newcastle LGA.

Urban Property Group’s plans align with the long-term strategic vision established under the Wickham Master Plan, which identified the interchange precinct as suitable for substantial uplift in height and density. The current proposal would significantly intensify that vision, positioning the tower among the tallest developments proposed for Newcastle.

The site sits immediately north of the Newcastle Interchange, bounded by Dangar Street, Hannell Street, and Charles Street. It is surrounded by a rapidly growing cluster of residential towers and mixed-use projects that have emerged following the completion of the light rail and transport interchange.

First look: Urban Property Group unveils Newcastle’s latest tower at Wickham interchange

Bottega House has completed settlement of a landmark riverfront site in Macquarie Street, St Lucia, representing its first major Brisbane development.&nbsp;

Positioned on the banks of the Brisbane River, the <a href="https://www.apartments.com.au/new-apartments/180-macquarie-street-st-lucia-qld-4067">premium site at 180 Macquarie Street</a> features uninterrupted river frontage in one of Brisbane’s most tightly held residential precincts.&nbsp;

The proposed development, currently under assessment with Brisbane City Council, has been designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and will deliver a boutique collection of premium residences positioned specifically for owner occupiers and downsizers.&nbsp;

The residences are set to redefine luxury apartment living in the area, with a focus on architectural quality, refined finishes, landscape integration and elevated amenities including curated wellness facilities, resort-style pools and recreation spaces rarely seen in the local market.&nbsp;

Exclusive sales for the project will be led by Keenan &amp; Byrne, ahead of an anticipated launch later this year.&nbsp;

Bottega House Managing Director Nick Malloch said the project reflects the group’s ambition to deliver a highly curated residential offering within one of Brisbane’s most tightly held precincts.&nbsp;

“This is an incredibly rare riverfront opportunity and one we have approached with a long-term perspective,” Malloch said.&nbsp;

“Our vision from the outset was to create a boutique collection of residences that feel more like private homes than traditional apartments, with generous proportions, refined finishes and exceptional amenity throughout."

Malloch says there is a&nbsp;lack of premium owner-occupier stock of this quality in the market, particularly for downsizers wanting space, privacy and a true lifestyle offering without compromise.&nbsp;

"Demand is expected to be strong given the scarcity of premium riverfront opportunities of this nature within Brisbane’s inner-west."&nbsp;

Bottega House secures landmark riverfront site in St Lucia 

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The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

<a href="https://www.apartments.com.au/new-apartments/exhale-surfers-paradise-8-enderley-avenue-surfers-paradise-qld-4217">Exhale</a>, a glass-encased tower featuring 54 large-scale apartments at 8 Enderley Avenue, is SIERA’s third Gold Coast development. It follows the recently completed PIPIS Bilinga beachfront project, which achieved suburb-record prices, and the soon-to-be-completed Chevron Island development, Tapestry.

[smartcode_project:default project_id=112661 project_image_fid=359603]

<a href="https://www.apartments.com.au/developers/siera">SIERA</a> Founder and Managing Director Brent Thompson said the arrival of the piling rig represented a significant milestone for the development, which is scheduled for completion in late 2028.

Over the next month, around 260 piles are expected to be installed as work progresses on the basement structure. The building is anticipated to rise above ground level early next year, before unveiling its sculptural glass curtain wall, developed in collaboration with specialist façade engineers.

“The façade was designed to maximise panoramic coastal views while creating a distinctive architectural identity,” Thompson said.

[smartcode_project:default project_id=112661 project_image_fid=355935]

Designed by BDA Architecture, Exhale will comprise just 54 two- and three-bedroom residences across 26 levels, a level of low-density living rarely delivered in this beachside pocket between Surfers Paradise and Broadbeach.

The project has been conceived as a resident-only building, with no short-stay accommodation permitted. SIERA says the model is intended to appeal to long-term owner-occupiers rather than transient holiday demand.

[smartcode_project:default project_id=112661 project_image_fid=361052]

Residences have been designed with large-format layouts and expansive glazing, with most apartments featuring more than 30 metres of glass frontage to maximise natural light and ocean views.

The amenity offering spans two levels and centres on wellness and lifestyle, including a heated magnesium pool, sauna, yoga and Pilates studio, gymnasium, private dining facilities, cinema lounge, and dedicated surfcraft storage.

[smartcode_project:default project_id=112661 project_image_fid=359607]

More than half of the apartments have already sold. SIERA has also opened a sales gallery for Exhale at its Chevron Island commercial premises, near its Tapestry tower and the site of its second Chevron Island apartment development, which is slated to launch in early 2027.
</section>
</section>

[smartcode_project_cta:default project_id=112661]

SIERA kicks off construction at Northcliffe tower Exhale

Melbourne

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<h2> </h2>
The REIV is expecting about 1,020 auctions in 259 suburbs this week across Melbourne. The top auction locations this week are in Richmond with 22 auctions, followed by Bentleigh East, Bentleigh and Brighton with 14 auctions in each.
This week will see the first Super Saturday auction weekend since mid-December 2015, with more than 1,000 auctions scheduled.
<table border="0" cellspacing="1" cellpadding="1"><tbody>
<tr>
<td>
Last weekend
</td>
<td>
539 auctions (exc. 10 postponed and 18 withdrawn)
</td>
</tr>
<tr>
<td>
This weekend
</td>
<td>
1,020 auctions
</td>
</tr>
<tr>
<td>
This weekend last year   
</td>
<td>
75% from 973 auctions
</td>
</tr>
</tbody></table>
 
 
</body></html>

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More than 1,000 auctions expected for week ending Feb 21: REIV

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Melbourne recorded a preliminary auction clearance rate of 73.6 percent for the week ending 14 February from 440 reported auctions, according to CoreLogic RP Data.
<a href="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%2012.32.36%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/15/Screen%20Shot%202016-02-15%20at%2012.32.36%20PM.png" alt="">
Melbourne's strongest performer was the Inner East, with a clearance rate of 81.4 per cent across 52 auctions. The Inner South, West and Mornington Peninsula all have a clearance rate above the 75 percent.
<a href="/images/2016/02/15/20160215-Melbourne.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/15/20160215-Melbourne.jpg" alt="">
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Melbourne's Inner East leads auctions with 81.4 percent clearance rate: CoreLogic RP Data

<html><body>
There were 92 suburbs in Melbourne that had a median house price in excess of a million dollars in December Quarter 2015, according to the REIV.
Of these, 45 suburbs had 30 or more sales in the quarter. There were thirteen new entrants to this list over the quarter: Brunswick East, East Melbourne, Flinders, Hampton East, Middle Park, Parkdale, Parkville, Research, Rosanna, Sorrento, St Kilda West, Thornbury and Warrandyte. Eight suburbs - Brunswick East, Hampton East, Parkdale, Parkville, Research, Rosanna, Sorrento and Thornbury - returned to the list in the three months to December 2015.  * denotes less than 30 sales in the quarter
 
<table dir="ltr" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td data-sheets-value='[null,2,"Suburb"]'>Suburb</td>
<td data-sheets-value='[null,2,"Dec-15 Median"]'>Dec-15 Median</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"EAST MELBOURNE*"]'>EAST MELBOURNE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2842500]">$2,842,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"TOORAK"]'>TOORAK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2840000]">$2,840,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ST KILDA WEST*"]'>ST KILDA WEST*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2700000]">$2,700,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CANTERBURY"]'>CANTERBURY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2432000]">$2,432,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MIDDLE PARK*"]'>MIDDLE PARK*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2290000]">$2,290,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MALVERN"]'>MALVERN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2230000]">$2,230,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BRIGHTON"]'>BRIGHTON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2225000]">$2,225,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ARMADALE*"]'>ARMADALE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2200000]">$2,200,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"KEW"]'>KEW</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2140000]">$2,140,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BALWYN"]'>BALWYN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2100000]">$2,100,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HAWTHORN EAST"]'>HAWTHORN EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2050000]">$2,050,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PORTSEA*"]'>PORTSEA*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2050000]">$2,050,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HAWTHORN"]'>HAWTHORN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,2015625]">$2,015,625</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CAMBERWELL"]'>CAMBERWELL</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1877500]">$1,877,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"GLEN IRIS"]'>GLEN IRIS</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1853000]">$1,853,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HAMPTON"]'>HAMPTON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1850000]">$1,850,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SOUTH YARRA"]'>SOUTH YARRA</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1833000]">$1,833,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SURREY HILLS"]'>SURREY HILLS</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1759389]">$1,759,389</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BALWYN NORTH"]'>BALWYN NORTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1725000]">$1,725,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"KEW EAST*"]'>KEW EAST*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1723000]">$1,723,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CAULFIELD*"]'>CAULFIELD*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1711000]">$1,711,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"EAGLEMONT*"]'>EAGLEMONT*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1700000]">$1,700,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ELWOOD"]'>ELWOOD</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1650000]">$1,650,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PARKVILLE*"]'>PARKVILLE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1600000]">$1,600,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ALPHINGTON*"]'>ALPHINGTON*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1590000]">$1,590,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BRIGHTON EAST"]'>BRIGHTON EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1580000]">$1,580,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"FITZROY*"]'>FITZROY*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1580000]">$1,580,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CAULFIELD NORTH"]'>CAULFIELD NORTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1560000]">$1,560,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ALBERT PARK*"]'>ALBERT PARK*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1550000]">$1,550,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MONT ALBERT*"]'>MONT ALBERT*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1534000]">$1,534,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MALVERN EAST"]'>MALVERN EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1520500]">$1,520,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"IVANHOE"]'>IVANHOE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1505500]">$1,505,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PRAHRAN"]'>PRAHRAN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1485000]">$1,485,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SANDRINGHAM"]'>SANDRINGHAM</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1472500]">$1,472,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BLACK ROCK*"]'>BLACK ROCK*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1460000]">$1,460,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ASHBURTON"]'>ASHBURTON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1426000]">$1,426,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BEAUMARIS"]'>BEAUMARIS</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1425000]">$1,425,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ELSTERNWICK"]'>ELSTERNWICK</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1408750]">$1,408,750</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CARLTON*"]'>CARLTON*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1400000]">$1,400,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PARK ORCHARDS*"]'>PARK ORCHARDS*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1380000]">$1,380,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BOX HILL*"]'>BOX HILL*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1375000]">$1,375,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"NORTH MELBOURNE*"]'>NORTH MELBOURNE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1367500]">$1,367,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ORMOND*"]'>ORMOND*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1365000]">$1,365,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SOUTH MELBOURNE*"]'>SOUTH MELBOURNE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1362500]">$1,362,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"TEMPLESTOWE"]'>TEMPLESTOWE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1353000]">$1,353,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ABERFELDIE*"]'>ABERFELDIE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1342500]">$1,342,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ST KILDA EAST*"]'>ST KILDA EAST*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1330000]">$1,330,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ESSENDON"]'>ESSENDON</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1315000]">$1,315,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CAULFIELD SOUTH"]'>CAULFIELD SOUTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1313000]">$1,313,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CARNEGIE*"]'>CARNEGIE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1300000]">$1,300,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"FAIRFIELD*"]'>FAIRFIELD*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1300000]">$1,300,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"FLINDERS*"]'>FLINDERS*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1300000]">$1,300,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BENTLEIGH"]'>BENTLEIGH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1295000]">$1,295,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MCKINNON*"]'>MCKINNON*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1288750]">$1,288,750</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MURRUMBEENA*"]'>MURRUMBEENA*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1285000]">$1,285,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MOUNT WAVERLEY"]'>MOUNT WAVERLEY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1281250]">$1,281,250</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"DONCASTER"]'>DONCASTER</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1260000]">$1,260,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ST KILDA*"]'>ST KILDA*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1257000]">$1,257,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"MONT ALBERT NORTH*"]'>MONT ALBERT NORTH*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1253500]">$1,253,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PORT MELBOURNE"]'>PORT MELBOURNE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1252500]">$1,252,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BOX HILL SOUTH"]'>BOX HILL SOUTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1238000]">$1,238,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"FITZROY NORTH*"]'>FITZROY NORTH*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1224250]">$1,224,250</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"RICHMOND"]'>RICHMOND</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1220000]">$1,220,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CARLTON NORTH*"]'>CARLTON NORTH*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1210000]">$1,210,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CLIFTON HILL*"]'>CLIFTON HILL*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1206000]">$1,206,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BURWOOD"]'>BURWOOD</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1190000]">$1,190,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BLACKBURN"]'>BLACKBURN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1188000]">$1,188,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"GLEN WAVERLEY"]'>GLEN WAVERLEY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1185000]">$1,185,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"WILLIAMSTOWN"]'>WILLIAMSTOWN</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1179500]">$1,179,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"DONVALE*"]'>DONVALE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1162500]">$1,162,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"STRATHMORE"]'>STRATHMORE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1160500]">$1,160,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"DONCASTER EAST"]'>DONCASTER EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1160000]">$1,160,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"NORTHCOTE"]'>NORTHCOTE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1106250]">$1,106,250</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ASHWOOD*"]'>ASHWOOD*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1103500]">$1,103,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"CLAYTON*"]'>CLAYTON*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1100500]">$1,100,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"SORRENTO*"]'>SORRENTO*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1100000]">$1,100,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HAMPTON EAST*"]'>HAMPTON EAST*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1081000]">$1,081,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"HUGHESDALE*"]'>HUGHESDALE*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1080250]">$1,080,250</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"TEMPLESTOWE LOWER"]'>TEMPLESTOWE LOWER</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1070000]">$1,070,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"PARKDALE"]'>PARKDALE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1062500]">$1,062,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"VERMONT SOUTH"]'>VERMONT SOUTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1049000]">$1,049,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BULLEEN*"]'>BULLEEN*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1038000]">$1,038,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"OAKLEIGH*"]'>OAKLEIGH*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1037500]">$1,037,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"WARRANDYTE"]'>WARRANDYTE</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1030000]">$1,030,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"RESEARCH*"]'>RESEARCH*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1027500]">$1,027,500</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BOX HILL NORTH"]'>BOX HILL NORTH</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1025000]">$1,025,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BRUNSWICK EAST*"]'>BRUNSWICK EAST*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1020000]">$1,020,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"WINDSOR*"]'>WINDSOR*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1020000]">$1,020,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"THORNBURY"]'>THORNBURY</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1017000]">$1,017,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"BENTLEIGH EAST"]'>BENTLEIGH EAST</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1015000]">$1,015,000</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"ROSANNA*"]'>ROSANNA*</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1010000]">$1,010,000</td>
</tr>
</tbody></table>
</body></html>

jchancellor-FAypfDUnLy

Melbourne's 92 million dollar median suburbs: REIV

<html><body>
Melbourne’s median price has moderated following four successive quarters of growth, providing positive news for house hunters in 2016.
The median price fell marginally in the December quarter – down 0.1 per cent to a median house price of $718,000 – following solid growth of 4.5 per cent in September. 
REIV Chief Executive Officer, Enzo Raimondo, said a high proportion of sales in Melbourne’s outer ring in the last quarter of 2015 had assisted in stabilising the housing market. 
“Melbourne’s outer suburbs saw the strongest capital growth in the December quarter, up 2.9 per cent over September figures,” he said.
Suburbs in the city’s outer north east dominated the list of top growth suburbs with Warrandyte recording growth of more than 19 per cent - rejoining the million dollar club with a median house price of $1,030,000.
<h3>The graph below depicts median house and unit prices in Melbourne over the past decade in seasonally adjusted terms.</h3>
<a href="https://www.propertyobserver.com.au/images/2016/02/11/Screen%20Shot%202016-02-11%20at%2011.32.41%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2016/02/11/Screen%20Shot%202016-02-11%20at%2011.32.41%20AM.png" alt="">*All quarterly median prices are seasonally adjusted and quarterly. Annual change is based on rolling annual figures.
Greenvale and Sunshine were also strong performers in December, up more than 17 per cent over the previous quarter. 
“Eight of the top 20 growth suburbs have a median house price below $600,000 and six of these are below $520,000. The median house price in Werribee increased more than $30,000 in the December quarter to $357,000.
“This level of growth in areas that are traditionally seen as affordable suburbs indicates buyer demand for space and affordability.”  
“Improved infrastructure in the city’s outer ring, including rail links and upgraded roads, are really boosting prices in these suburbs.” 
Mr Raimondo said there had been a distinct shift away from more expensive Melbourne suburbs with buyers now looking at emerging growth areas. 
“Demand for suburbs in Melbourne’s middle ring ebbed this quarter, as buyers sought  value further from the city’s CBD.” 
He said the city’s moderating housing market represented good news for those looking to get a foothold on the property ladder. 
“While 2015 was a remarkable year for vendors, a moderating market favours buyers with more room for negotiation,” he said. 
Meanwhile, suburbs in Melbourne’s inner ring continued to perform well at the end of 2015 with the median house price reaching $1,252,000 for the first time – a 1.3 per cent quarterly increase. 
Widespread growth was also recorded for units and apartments, up 1.6 per cent across the city to a median of $537,500. 
Regional Victoria was the state’s main growth driver in median prices in the December quarter, outstrippingMelbourne. REIV data shows house prices in regional Victoria rose 2.2 per cent in the last three months of 2015 to a median of $353,000, up from $345,500 in September.  The price of units and apartments also increased in December, up 2.3 per cent to a median of $268,500. Meanwhile, growth in Melbourne moderated with the median house price down 0.1 per cent in December to $718,000. REIV Chief Executive Officer, Enzo Raimondo, said price growth in regional areas appeared to be driven by willingness by city dwellers to live further from the Melbourne CBD and commute - and by a new trend, with city dwellers migrating from Melbourne to live full-time in country areas. “We’ve seen prices in major regional areas within 90 minutes of Melbourne grow in price, suggesting city commuters are looking further afield for lifestyle and value reasons,” he said. “Many regional centres within commuting distance of Melbourne are increasingly sought-after by those priced out of the Melbourne market.”  Mr Raimondo said a further, interesting trend is for price growth in towns and cities further from Melbourne, in the most recent quarter. “We’ve seen growth in larger regional centres further from Melbourne in the final few months of 2015.” These include Bairnsdale, Echuca, Swan Hill, Mildura and Warrnambool, he said. “This latter trend is more likely being driven by homebuyers looking to migrate to regional areas to work or retire in regional Victoria, with many seeking to swap the city for the more relaxed living in the regional and rural areas.”
Melbourne’s median price has moderated following four successive quarters of growth, providing positive news for house hunters in 2016.
The median price fell marginally in the December quarter – down 0.1 per cent to a median house price of $718,000 – following solid growth of 4.5 per cent in September. 
REIV Chief Executive Officer, Enzo Raimondo, said a high proportion of sales in Melbourne’s outer ring in the last quarter of 2015 had assisted in stabilising the housing market. 
“Melbourne’s outer suburbs saw the strongest capital growth in the December quarter, up 2.9 per cent over September figures,” he said.
Suburbs in the city’s outer north east dominated the list of top growth suburbs with Warrandyte recording growth of more than 19 per cent - rejoining the million dollar club with a median house price of $1,030,000.
<div>
 <table dir="ltr" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td data-sheets-value='[null,2,"Metro Melbourne"]'>Metro Melbourne</td>
<td data-sheets-value='[null,2,"Dec-15 Quarter"]'>Dec-15 Quarter</td>
<td data-sheets-value='[null,2,"% chg to last q"]'>% chg to last q</td>
<td data-sheets-value='[null,2,"Sep-15 Quarter"]'>Sep-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual Change"]'>Annual Change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"House"]'>House</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,718000]">$718,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,-0.001]">-0.10%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,719000]">$719,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.08]">8.00%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Unit"]'>Unit</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,537500]">$537,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.016]">1.60%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,529000]">$529,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.05]">5.00%</td>
</tr>
<tr>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Inner"]'>Inner</td>
<td data-sheets-value='[null,2,"Dec-15 Quarter"]'>Dec-15 Quarter</td>
<td data-sheets-value='[null,2,"% chg to last q"]'>% chg to last q</td>
<td data-sheets-value='[null,2,"Sep-15 Quarter"]'>Sep-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual Change"]'>Annual Change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"House"]'>House</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1252000]">$1,252,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.013]">1.30%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,1236500]">$1,236,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.17]">17.00%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Unit"]'>Unit</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,562000]">$562,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.005]">0.50%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,559000]">$559,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.021]">2.10%</td>
</tr>
<tr>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Middle"]'>Middle</td>
<td data-sheets-value='[null,2,"Dec-15 Quarter"]'>Dec-15 Quarter</td>
<td data-sheets-value='[null,2,"% chg to last q"]'>% chg to last q</td>
<td data-sheets-value='[null,2,"Sep-15 Quarter"]'>Sep-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual Change"]'>Annual Change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"House"]'>House</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,837000]">$837,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,-0.022]">-2.20%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,855500]">$855,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.132]">13.20%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Unit"]'>Unit</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,596500]">$596,500</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.018]">1.80%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,586000]">$586,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.088]">8.80%</td>
</tr>
<tr>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Outer"]'>Outer</td>
<td data-sheets-value='[null,2,"Dec-15 Quarter"]'>Dec-15 Quarter</td>
<td data-sheets-value='[null,2,"% chg to last q"]'>% chg to last q</td>
<td data-sheets-value='[null,2,"Sep-15 Quarter"]'>Sep-15 Quarter</td>
<td data-sheets-value='[null,2,"Annual Change"]'>Annual Change</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"House"]'>House</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,559000]">$559,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.029]">2.90%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,543000]">$543,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.086]">8.60%</td>
</tr>
<tr>
<td data-sheets-value='[null,2,"Unit"]'>Unit</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,425000]">$425,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.032]">3.20%</td>
<td data-sheets-numberformat='[null,4,"\"$\"#,##0",1]' data-sheets-value="[null,3,null,412000]">$412,000</td>
<td data-sheets-numberformat='[null,3,"0.00%",1]' data-sheets-value="[null,3,null,0.051]">5.10%</td>
</tr>
</tbody></table>
</div>
<div> </div>
<div>Greenvale and Sunshine were also strong performers in December, up more than 17 per cent over the previous quarter.  “Eight of the top 20 growth suburbs have a median house price below $600,000 and six of these are below $520,000. The median house price in Werribee increased more than $30,000 in the December quarter to $357,000. “This level of growth in areas that are traditionally seen as affordable suburbs indicates buyer demand for space and affordability.”  “Improved infrastructure in the city’s outer ring, including rail links and upgraded roads, are really boosting prices in these suburbs.” Mr Raimondo said there had been a distinct shift away from more expensive Melbourne suburbs with buyers now looking at emerging growth areas.  “Demand for suburbs in Melbourne’s middle ring ebbed this quarter, as buyers sought  value further from the city’s CBD.” He said the city’s moderating housing market represented good news for those looking to get a foothold on the property ladder.  “While 2015 was a remarkable year for vendors, a moderating market favours buyers with more room for negotiation,” he said.  Meanwhile, suburbs in Melbourne’s inner ring continued to perform well at the end of 2015 with the median house price reaching $1,252,000 for the first time – a 1.3 per cent quarterly increase.  Widespread growth was also recorded for units and apartments, up 1.6 per cent across the city to a median of $537,500. </div>
Prices for regional Victoria are also <a href="https://www.reiv.com.au/RESEARCH/Sales-Data/Median-Prices-in-the-Regions" target="_blank">available</a>.
 
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Melbourne's median falls in December quarter: REIV

<html><body><div class="cq-article-content-paras section">
Property tycoon Harry Stamoulis has bought the One Collins Street tower complex at the top of Collins Street, Melbourne, for $125 million.
It was bought from fellow BRW rich lister Robert Magid and his sister, Nora Goodridge.
The complex comes with 17-storey modern tower overlooking Treasury Gardens and an 1870s heritage residence that served as Australia's first war cabinet room in 1914.
The Australian Financial Review says it was struck on a tight 5.25 per cent yield and at a high building rate of more than $9000 a square metre for the fully leased A-grade office complex.
The Australian says it was sold by Knight Frank.
Rabobank, Mckinsey &amp; Co, Grant Samuel and IBISWorld are tenants at One Collins Street. 
The Magid family acquired it for $43.1 million in 1997.
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Magid's sell One Collins Street to Stamoulis

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Melbourne's Inner East recorded a preliminary clearance rate of 93.8 percent from a total of 19 auctions for the week ending 7 February, according to CoreLogic RP Data. 
The Outer East region had 40 auctions, with 30 reported results so far totalling a preliminary clearance rate of 83.3 percent.
<a href="/images/2016/02/08/Screen%20Shot%202016-02-08%20at%2010.23.37%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/08/Screen%20Shot%202016-02-08%20at%2010.23.37%20PM.png" alt="">
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mick.cee-iDmgDDAmu8

Melbourne's Inner East posts clearance rate of 93.8 percent: CoreLogic RP Data

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The outlook for China’s growth is a significant uncertainty for the outlook for the Australian economy, according to the latest RBA statement on monetary policy issued this morning.
But in the period ahead, Australian dwelling investment seems likely to be supported by continued strong demand from foreign buyers, the central bank concludes.
Information from the bank’s liaison suggests that foreign buyers tend to have long-term motivations for investment and may be relatively unconcerned about temporary fluctuations in housing price growth.
The statement then adds population growth, employment prospects and expectations for future housing price growth are likely to be the most important considerations for domestic buyers.
"Some geographic areas appear to be at risk of reaching a point of oversupply, particularly the inner-city areas of Melbourne and Brisbane."  
It also noted conditions in the established housing market have eased in recent months.
"National housing prices have declined slightly from their September 2015 peak, following strong growth earlier in 2015.
"Auction clearance rates, which are another timely gauge of housing market conditions, have also declined from very high levels to be around their long-run averages.
"However, some other indicators – including turnover rates, days on market and the eventual discount on vendor asking prices – have been little changed.
"The easing in housing market conditions has been most pronounced for detached houses in Sydney and Melbourne, where earlier price growth had been strongest, and in Perth, where prices have been declining since early 2015."
It noted growth of national apartment prices had been noticeably slower than that of detached housing prices, reflecting large increases in higher-density housing supply over recent years, especially in Melbourne.
"The increase in supply over recent years, partly in response to strong investor demand, has been associated with a gradual increase in the nationwide rental vacancy rate.
"Rental yields remain low by historical standards.
"Dwelling investment grew strongly over the year to the September quarter, supported by low interest rates and the significant increase in housing prices over the past several years."
The RBA has also released its Chart Pack that summarises macroeconomic and financial market trends in Australia.
<a href="/images/2016/02/05/Screen%20Shot%202016-02-05%20at%2011.20.41%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/05/Screen%20Shot%202016-02-05%20at%2011.20.41%20AM.png" alt="" width="770" height="537">
<a href="/images/2016/02/05/Screen%20Shot%202016-02-05%20at%2011.22.05%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/05/Screen%20Shot%202016-02-05%20at%2011.22.05%20AM.png" alt="" width="759" height="549">
<a href="/images/2016/02/05/Screen%20Shot%202016-02-05%20at%2011.23.19%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/05/Screen%20Shot%202016-02-05%20at%2011.23.19%20AM.png" alt="" width="712" height="508">
<a href="/images/2016/02/05/Screen%20Shot%202016-02-05%20at%2011.25.08%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/05/Screen%20Shot%202016-02-05%20at%2011.25.08%20AM.png" alt="" width="741" height="513">
<a href="/images/2016/02/05/Screen%20Shot%202016-02-05%20at%2011.26.05%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/05/Screen%20Shot%202016-02-05%20at%2011.26.05%20AM.png" alt="" width="779" height="566">
<a href="/images/2016/02/05/Screen%20Shot%202016-02-05%20at%2011.27.35%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/05/Screen%20Shot%202016-02-05%20at%2011.27.35%20AM.png" alt="" width="776" height="547">
<a href="/images/2016/02/05/Screen%20Shot%202016-02-05%20at%2011.29.29%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/05/Screen%20Shot%202016-02-05%20at%2011.29.29%20AM.png" alt="" width="810" height="584">
To view the RBA's Statement on Monetary Policy, February 2016, <a href="https://www.rba.gov.au/publications/smp/2016/feb/" target="_blank">click here</a>.
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Chinese still coming but Melbourne and Brisbane inner city at risk of over supply: RBA monetary statement

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Skincare brand Origani is the newest entrant on Melbourne’s Swanston Street shopping strip.
The beauty giant has signed a seven-year lease for its first street store in the Melbourne CBD. 
The store at 191 Swanston Street will be spread over 56 square metre at an annual rental of $4,303 per sqm.
CBRE’s Zelman Ainsworth and Samantha Hunt brokered the off-market deal for Erdi Group.
Ainsworth said the deal was evidence of strengthening demand from international retailers looking to acquire street stores in the Melbourne CBD over shopping centre outlets.
“While shopping centres have traditionally been Origani’s preferred target location, on the back of unmatched traffic and retail spend in the Melbourne CBD, the retailer was eager to secure a presence in the sought after hub,” Ainsworth said.
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Origani scoops beauty spot in Melbourne CBD shopping hub 

<html><body>
Savills Australia have sold a high-profile residential development site with a permit for 11 apartments to a Melbourne based private developer for $1.27 million.
Located in Highett in Melbourne's south-east, the site had only been on the market for a week.
Comprising a corner 701 sqm site, 1157 Nepean Highway has a combined street frontage of 52 metres and was solid via a private sale.
Selling agents Jesse Radisich and Julian Heatherich described the market as hungry and weren't surprised at the speed of the sale.
"This was a fantastic opportunity in that it offered several key ingredients to a successful apartment project including a corner location providing superb site access and design flexibility, a location well served by public transport and five minutes from Westfield Southland Shopping Centre, and of course a development permit," said Jesse.
The property was sold vacant and cleared on a land value of $1812 a square metre and at a unit rate of $115,455.
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jrobinson-rf4aSBido9

Savills in development site quick sale in Highett

<html><body>
Melbourne vendors have rushed the 2015 market place.
But Sydney's number of new listings for the week ending January 31 is down on last year, according to the latest figures from CoreLogic RP Data.
The Melbourne fresh offerings are up 23.8 percent on their number of new listing from this time last year with just over 7,000 new listings.
Sydney remain in negatives figures having only managed just over 5,000 new listings, a 5.1 percent decrease from 12 months ago. But Sydney has more left over stock from late last year.
Melbourne didn't top the chart on fresh listings however as Brisbane were up 26.9 percent since and Adelaide 33.4 percent.
Property Observer wrote about Melbourne's much higher clearance rate start to 2016.
Neither were the highest however, Canberra had the highest clearance rate at 77.8 percent for their 27 auctions. 
<a href="/images/2016/02/02/Screen%20Shot%202016-02-02%20at%2011.10.06%20am.png" target="_blank">Click here to enlarge</a>
<img src="/images/2016/02/02/Screen%20Shot%202016-02-02%20at%2011.10.06%20am.png" alt="" width="375" height="227">
 
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