Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Property market

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GUEST OBSERVER
The housing market is certainly patchy across the nation, however it was encouraging to see some of the resource states seeing a decent lift in prices over October.
In addition prices fell in just two of the eight capital cities. Policymakers would be encouraged about more balanced home price growth across the nation but it would take a few more months to feel comfortable, and they would need to see a lift in regional house prices. Annual growth in home prices across regional centres was just 1.1 percent over the past 12 months.
What is clear is that prices are still rising in the strong markets of Sydney and Melbourne. In fact annual growth in Sydney home prices remains just shy of 11 percent and growth remains close to 10 percent in Melbourne.
<a href="/images/2016/11/01/Screen%20Shot%202016-11-01%20at%201.14.17%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/01/Screen%20Shot%202016-11-01%20at%201.14.17%20PM.png" alt="">
Still, given the amount of new homes being built at present in Sydney and Melbourne, national home prices may slow over the coming year.
The latest home price data doesn’t stand in the way of the Reserve Bank cutting rates over the next couple of months. The Reserve Bank has regularly noted that housing supply will lift over coming years as work is completed on the bevy of new homes – especially apartments. On balance inflation will be more of a deciding factor when it comes to debating the merits of another rate cut.
The latest Australian manufacturing data is encouraging, suggesting that the current levels of interest rates and the Australian dollar are working in favour of domestic producers. No doubt the sector is also benefitting from the stronger demand now that Brexit and the Federal Election are out of the way. 
What do the figures show?
Home prices
The CoreLogic Home Value Index of capital city home prices rose by 0.5 percent in October and was up 7.5 percent over the year.
In regional Australia, house prices rose by 0.9 percent in September and were just 1.1 percent higher than a year ago. (regional prices cover just houses and data is up to the end of September).
In capital cities, house prices rose by 0.5 percent in October while apartment prices rose by 0.6 percent. House prices were up 7.7 percent on a year ago and apartments were up by 6.3 percent.
The average Australian capital city house price (median price based on settled sales over quarter) was $615,000 and the average unit price was $520,000.
Dwelling prices rose in six of the eight capital cities in October: Darwin (up 2.2 percent) followed by Melbourne, Perth and Brisbane (all up 0.8 percent); Sydney (up 0.6 percent); and Canberra (up 0.4 percent). Prices fell most in Adelaide (down 2.4 percent), followed by Hobart (down 2.1 percent).
<a href="/images/2016/11/01/Screen%20Shot%202016-11-01%20at%201.14.24%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/01/Screen%20Shot%202016-11-01%20at%201.14.24%20PM.png" alt="">
Home prices were higher than a year ago in six of the eight capital cities. Prices rose most in Sydney (up 10.6 percent); followed by Melbourne (up 9.1 percent), Canberra (up 7.9 percent); Hobart (up 5.0 percent); Brisbane (up 4.1 percent) and Adelaide (up 2.5 percent). Prices fell in Darwin (down 3.8 percent) and Perth (down by 3.7 percent).
Total returns on capital city dwellings in the year to October rose by 11.2 percent with houses up 11.3 percent on a year earlier and units up 10.9 percent.
Performance of Manufacturing
The Performance of Manufacturing index rose by 1.1 points to 50.9 in October. A reading above 50.0 indicates that the sector is expanding. The index had been above 50 for 13 months up until August 2016 – the longest period of expansion since September 2006.
AIG notes “The rise was driven by stronger growth in exports, sales and new orders, which highlights the growing importance of exports to manufacturers and suggests further growth ahead.”
What is the importance of the economic data?
The CoreLogic Hedonic Australian Home Value Index is based on Australia’s biggest property database. Unlike the ABS Index, which excludes terraces, semi-detached homes and apartments, the CoreLogic Hedonic Index includes all properties. Home prices are an important driver of wealth and spending.
The Australian Industry Group compiles the Performance of Manufacturing Index (PMI) each month. The Australian PMI is the Australian equivalent of the US ISM manufacturing gauge. The PMI is one of the timeliest economic indicators released in Australia. The PMI is useful not just in showing how the manufacturing sector is performing but in providing some sense about where it is heading. The key ‘forward looking’ components are orders and employment.
What are the implications for interest rates and investors?
Latest data shows that the Australian economy remains in good shape.  
The transition from manufacturing to services in China is proceeding well. The manufacturing sector is tracking sideways while the services sector is taking up the slack and expanding nicely. A case of so far, so good. 
Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a> </div>
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jchancellor-FAypfDUnLy

Resource states seeing healthier home prices: CommSec's Savanth Sebastian

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Bruce takes the spot as ACT's slowest selling suburb, according to Investar's latest report.
The property advisory firm says that a one bedroom unit in Bruce can take up to 337 days to sell with a median price of $299,000.
An example would be a one bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-act-bruce-120057033" target="_blank">87/8 Baudinette Circuit </a>(above) that was recently sold for $322,000.
Similarly a one bedroom unit at <a href="https://www.realestate.com.au/sold/property-apartment-act-bruce-120734701" target="_blank">66/8 Baudinette Circuit </a>(below) was recently sold for $320,000.
<img src="/images/2016/09/27/668%20Baudinette%20Circuit.jpg" alt="">
A three bedroom unit with a median price of $419,000 at Bruce takes second place on the list taking up to 309 days to sell.
Suburb   Type                        Beds   Days to sell    Median    Year growth
BRUCE    Unit &amp; Studio           1        337               $299,000  -5.08%
BRUCE    Unit                        3        309               $419,000  -5.85%
BELCONNEN  Unit &amp; Studio     1        296               $345,000  7.81%
BARTON   Unit                       2        258               $610,000  -3.03%
LYNEHAM Unit &amp; Studio          1        254               $331,500  -7.92%
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j.ballantyne1990-6AQqhLzZaK

Bruce is ACT's slowest apartment market: Investar

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The average vendor discount required to secure a private treaty sale in Sydney has risen from 4.5% to 4.6%, according to CoreLogic’s latest weekly report.
But the average house in Sydney can be expected to be on the market for 27 days compared to 28 days a week ago.
At the other end of the spectrum, the city where properties can expect to be on the market for some time is Darwin.
A home in the NT capital can expect to be on the market for 107 days, while a vendor will typically have to wait 112 days to sell a unit and discount by 10.8% to secure the sale.
<a href="https://www.propertyobserver.com.au/images/2016/10/25/Capital%20city%20median%20time.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2016/10/25/Capital%20city%20median%20time.jpg" alt="">
Source: CoreLogic
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Sydney private treaty homes selling in 27 days: CoreLogic

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With Queensland's Sunshine Coast expected to overtake the Gold Coast’s in property market growth, investors are being urged to spend cautiously.
“The trend suggests the Gold Coast is winding down – it surged throughout 2015 and the early part of 2016, but the number of growth suburbs has dropped from 25 six months ago to 20 three months ago to 14 now,” the latest Terry Ryder Price Predictor suggests.
“We continue to urge caution about the Gold Coast high-rise apartment markets because of the alarming history of boom-bust scenarios, poor capital growth record and looming prospect of oversupply.”
The report suggested investors should head for the hills.
The report predicts prices in Upper Coomera and Nerang will rise faster than in beachfront suburbs, based on trends in sales volumes.
Ryder told The Gold Coast Bulletin that the Gold Coast was a “tale of two cities”.
“(It’s) the high-rise suburbs and genuine residential suburbs,” the report states.
“We urge investors to avoid the former and concentrate on the latter.
“Many of the inland housing areas of the Gold Coast have strongly-growing markets and will deliver price growth.
"Our Top 30 list includes Ashmore, Carrara, Highland Park, Nerang and Upper Coomera.”
REIQ Gold Coast zone chairman John Newlands agreed Ashmore, Carrara, Highland Park, Nerang and Upper Coomera still offered affordable housing noting buyers can secure a house for $450,000 to $550,000
But Newlands was surprised by the predicted trend on the beachfront prediction.
“I really do feel that the Gold Coast is growing,” Mr Newlands said.
“We rely heavily on tourism and hospitality but we also have construction and manufacturing to the west of the Coast. Tourism is growing and we’ve also broken into the healthy industry.”
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Terry Ryder urges caution on Gold Coast highrise

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<div>SQM Research reported that year-on-year vacancy rates are slightly higher.</div>
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<div>Sydney and Melbourne reported vacancy rates of 1.8 percent and 2 percent respectively.</div>
<div> </div>
<div>In Brisbane, where there is still a significant pipeline of inner city apartments set to hit the market, vacancy rates are 2.9 percent. </div>
<div> </div>
<div>Perth's vacancy rate was steady from the previous month at 5 percent, while the Darwin market appears to be have steadily improved with vacancy rates at 3.1 percent. </div>
<div> </div>
<div>The tightest markets are Hobart (0.6 percent) and Canberra (1.1 percent), and asking rents have increased accordingly in these cities. </div>
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<div><a href="/images/2016/10/19/SQM1.jpg" target="_blank">Click to enlarge</a></div>
 <div class="separator"><img src="/images/2016/10/19/SQM1.jpg" alt=""></div>
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<div>Smoothing the data shows that over the past year vacancy rates have been relatively flat in Sydney and Melbourne, but vacancies have generally been elevated in the resources states. </div>
 <div class="separator"><a href="/images/2016/10/19/SQM2.jpg" target="_blank">Click to enlarge</a></div>
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<div class="separator"><img src="/images/2016/10/19/SQM2.jpg" alt=""></div>
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<div>This has been reflected in soft rents in Perth and Darwin.</div>
<div> </div>
<div>Despite the apartments pipeline asking rents for units are higher year-on-year in each of the three most populous cities, particularly in Sydney (+4.4 per cent) and Melbourne (+5.1 per cent) as the new stock comes online. </div>
<div> </div>
<div>Concluded SQM Research:</div>
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<div>"Looking forward, vacancies are likely to rise in Melbourne, Brisbane and Sydney over 2017 as more new high-rise apartment developments come onto the market. </div>
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<div>However, we maintain that the oversupply issue appears to be constrained to concentrated areas such as the inner-city regions. </div>
<div> </div>
<div>We are not as confident we will see a contagion affect where the whole capital city market is affected."</div>
<div> </div>
<div>
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>. 
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>.
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Vacancies up slightly year-on-year: Pete Wargent

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Commercial property investment volumes in Australia surged 32 percent to $9 billion in Q3 on a quarterly basis – the strongest third quarter of the year since 2014, says a new Cushman and Wakefield’s update on investment in the sector. 
Unlike in Q2, where the market was driven by a comparatively small number of larger deals, activity in Q3 was skewed back towards the lower end of the spectrum with average deal size at $47 million. However, this is not to say there were not significant transactions – nearly one-third of the quarterly volume came from deals above $200 million, says according to the Investment MarketBeat Q3. 
Much of the liquidity was provided by A-REITs divesting of non-core stock (Figure 1).
<a href="/images/2016/10/14/Investoractivity.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/10/14/Investoractivity.png" alt="">
Most of the big-ticket deals were transacted in Sydney and Melbourne. (Table 1)
<a href="/images/2016/10/14/BigDeals.png" target="_blank">Click to enlarge</a>
 <img src="/images/2016/10/14/BigDeals.png" alt="">
Available stock in the office sector remains comparatively tight, resulting in below average investment volumes. In light of weaker investment in the office sector, other sectors performed more strongly to drive the quarterly result. At $1.8 billion, the industrial sector recorded the strongest quarterly result since Q3 2014. The retail sector was also buoyant with over 70 transactions recorded for the quarter, resulting in total investment volume of $2.2 billion.
Foreign investment also rebounded strongly in Q3 2016 to $4.9 billion, from the $2 billion invested in Q2. Asia Pacific investors dominated the quarter, with China-based entities and Singapore-based entities accounting for $1.7 billion and $1.3 billion respectively. International investors, those with a global platform, rounded out third place with a further $1.2 billion, following the $1.5 billion invested last quarter.
<a href="/images/2016/10/14/Foreigninvestors1.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/14/Foreigninvestors1.png" alt=""> 
The investment market has been somewhat erratic over 2016 so far with regard to the number of deals and average deal size. Notwithstanding this, investment volume in 2016 is currently matching that at this stage in 2015. For volume to remain flat by the year’s end, though, $9.5 billion of investment is required in Q4.
Office yields contracted further in Q3, especially in Sydney which together with strong rental growth drove capital value growth of 33 percent over the past 12 months. Although yields are approaching historical lows across many markets, compared to fixed interest investments and many offshore commercial property markets, Australian commercial real estate remains attractive. In the current lower-for- longer environment, this allows potential for further modest compression. 
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Investment in commercial property surges 32 percent in Q3: Cushman & Wakefield

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Residential real estate wealth has reached $6.7 trillion, according to CoreLogic.
This is followed by Australian superannuation worth $2.1 trillion, Australian listed stocks worth $1.7 trillion and finally commercial real estate reaching $0.88 trillion.
<a href="/images/2016/10/06/Residential%20real%20estate%20underpins%20Australias%20wealth%20and%20has%20reached%206.7%20trillion.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/06/Residential%20real%20estate%20underpins%20Australias%20wealth%20and%20has%20reached%206.7%20trillion.jpg" alt="">
Capital gain has slowed compared to September 2010 when it was at its peak, however it is still remaining strong with capital gain from dwelling at seven percent. The median price for homes is at $600,000 while for units it is $510,000.
<a href="/images/2016/10/07/The%20annual%20rate%20of%20capital%20gain%20has%20slowed%20from%20its%20peak%20but%20remains%20quite%20strong.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/07/The%20annual%20rate%20of%20capital%20gain%20has%20slowed%20from%20its%20peak%20but%20remains%20quite%20strong.jpg" alt="">
Darwin and Perth continue to experience a decline in capital gain while other capital cities continue to grow. Darwin has declined by six percent while Perth has declined by seven percent.
<a href="/images/2016/10/07/Values%20continue%20to%20fall%20in%20Perth%20and%20Darwin%20on%20an%20annual%20basis%20whilst%20growth%20is%20picking-up%20in%20a%20number%20of%20other%20capital%20cities.jpg" target="_blank">Click to enlarge</a>
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Residential real estate reaches $6.7 billion while capital gain remain strong: CoreLogic

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<img src="https://counter.theconversation.edu.au/content/66572/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Those looking to get a piece of the Australian dream of buying a home are still falling victim to the shadow property market of rent-to-buy deals, a new report shows.
In a typical rent-to-buy deal, the buyer agrees to an inflated property price, then pays market rent (or above), an “option fee” to buy the property in several years’ time, and in some cases a deposit and outgoings. The option fees are at least partly credited to the purchase price. The catch is that the buyer has to refinance with a mainstream lender to buy the home by the time the rent-to-buy deal expires. 
People who have signed up to rent-to-buy deals find it virtually impossible to refinance. The Consumer Action Law Centre has seen no examples of successful rent-to-buy deals. They are extremely risky financially and the legal protections for buyers are grossly inadequate.
In vendor finance schemes, the buyer agrees to an inflated property price, then pays a deposit, instalments, outgoings and, in some cases, their First Home Owner Grant. Vendor finance agreements are typically for between two and 30 years. However, the buyer will often need to refinance within several years and will face the same obstacles as in rent-to-buy deals.
The Consumer Action Law Centre report, Fringe Dwellings: The vendor finance and rent-to-buy housing black market, collected and published 10 case studies from Victoria and beyond. The studies detail the experiences of people across Australia who have bought into these schemes. There are some striking similarities between these cases.
The sales pitch is the same – “Own a home quickly and easily”, “Buy without a bank!”, “Tell the landlord to shove it!” and so on. The dream of home ownership is a very easy sell, especially to someone who thought it was out of their reach.
There are many examples of failed vendor finance deals. Many buyers have paid significant amounts towards what they hope will be their home, only to find they cannot complete the purchase and will lose everything.
The people who fall victim to these schemes don’t have the income, savings or credit history to get a mortgage. Often the banks have said no and people are drawn in by someone who seems to understands their predicament and finally says yes. 
In most cases the deals were unaffordable from the beginning. The purchase price is well in excess of market value and the repayments are much higher than you’d see in a mainstream mortgage.
<h2>How people fall into the trap</h2>
Owning your own home is at the centre of the modern Australian dream. Yet this dream is increasingly out of reach of many as housing affordability worsens with rocketing property prices in our major cities. A report published earlier this year by the Australian Population Research Institute cited international research data ranking Sydney and Melbourne as second and fourth respectively among the most unaffordable locations in the world across the 86 major markets surveyed.
So it’s no wonder that people will go to extreme lengths, and are susceptible to the seductions of smooth-talking property spruikers, as they chase the dream of home ownership.
The legal framework is almost impossible for an individual to navigate without expert advice. In Victoria alone, there are nine pieces of state and federal legislation that can apply to rent-to-buy and/or vendor finance arrangements.
Although the various deals are sold to buyers in much the same way, it’s when they unravel that the complicated nature of the deals comes to light. This is essentially a black market, because it does not sit within established property markets or laws. 
<h2>How common is this in Australia?</h2>
Such schemes have a long history in Australia and elsewhere but have achieved somewhat of a renaissance with the rise of the people who promote these schemes. 
Unfortunately, it is difficult to identify how many people have entered into these sorts of schemes due to a lack of available data. Answers to questions in the census also do not provide this information. For the most part, therefore, these transactions are invisible.
As the property has not changed hands, there is no record on the title to the land and consumers rarely register caveats. However, the Consumer Action Law Centre and other legal services around Australia have assisted clients regarding these schemes in recent years. 
In addition to this, there is an unhealthy level of interest in getting involved in these schemes. Thousands of potential brokers have attended vendor finance and rent-to-buy promotions in Australia. We Buy Houses Pty Ltd, the biggest of the operators, had a turnover of $20 million between January 2011 and June 2014. The role that some lawyers play in the establishment of the schemes is another concern. 
<h2>What can be done?</h2>
These schemes operate in a legal twilight zone. The patchwork of state and federal laws does not adequately regulate these transactions. 
Depending on the structure of the particular transaction and the jurisdiction in which it occurs, some consumers may qualify for some legal protection while others simply fall through the cracks. Given the already onerous financial and emotional burdens incurred, consumers may recoil at the prospect of further expense and stress through engagement with the legal system. 
Obviously the best course is to discourage consumers from entering into these transactions in the first place, so more public awareness of the pitfalls is desirable. The reality is, however, that the tantalising prospect of home ownership will mean that many hopeful but vulnerable homebuyers will still enter into these transactions. Proactive legal intervention is necessary and urgent.
As suggested by the Consumer Action Law Centre, the most effective solution would be to prohibit such schemes. Their track record in Australia and elsewhere is poor. The only benefit flows to the broker. 
Failing this, property investment advice should be more tightly regulated. 
The Corporations Act and the Australian Securities and Investments Commission Act impose tight regulations upon other forms of financial advice and all of these transactions should be no exception. Also purveyors should be licensed under the national credit laws to ensure compliance with national standards and make sanctions available for non-compliance. 
These measures are essential to ensure that advice provided complies with existing regulation, that consumers are aware of the pitfalls of the schemes and that an especially vulnerable cohort of consumers is protected. 
Another concern is the coverage of existing national and state laws. It is ironic that, in many cases, these transactions do not fall under the national credit law, the cornerstone of responsible lending and protection from unjust contracts. 
State legislatures, which have carriage of real property laws, also have a role to play. Again, depending on the the structure of the transaction, laws could potentially overlap and yet other scenarios are not addressed at all. 
Finally, regulators should use consumer protection laws to pursue these schemes. These laws prohibit misleading or deceptive and unconscionable conduct – although proving these legal standards before a court can be onerous. 
The Consumer Action Law Centre’s suggestion of an extension of the provisions to include unfair trading – especially within the context of the ongoing review of the Australian Consumer Law – is timely.
These types of shonky schemes are not new and their shortcomings cannot be denied. The desire for a home means that many consumers will be vulnerable, especially in a time of declining home affordability and tighter credit. It seems we have reached a point where a national approach to the regulation of these transactions is not just desirable, but essential.
Eileen Webb is associate professor, Curtin Law School, Curtin University and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/eileen-webb-95332" target="_blank">here</a>.
Allan Fels is professorial Fellow, University of Melbourne and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/allan-fels-11872" target="_blank">here</a>.
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Eager homebuyers still falling victim to shadowy rent-to-buy deals

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Adelaide now has the No.1 growth market among the eight state and territory capital cities.
While the former boom markets in Sydney and Melbourne have faded dramatically in 2016 (notwithstanding the dodgy data on auction clearance rates, which flatter to deceive), and Brisbane has lost some of its momentum, Adelaide has maintained its very steady performance.
My latest survey of sales activity for The Price Predictor Index shows that Adelaide leads the capital cities on the number of growth markets for the second consecutive survey. It has more suburbs with rising sales activity than all other cities, ahead of Melbourne and Brisbane. Adelaide is attracting growing attention from investors for its affordability and the value for money it offers compared to the bigger cities. 
Using sales volumes as the yardstick, there are now very few growth markets left in Sydney. And my latest survey adds another element to the downturn story: there are now suburbs I have identified as “danger markets”, because of the pattern of sharp decline in the number of sales. These are primarily apartment markets, where sales levels are dropping at a time of increasing supply. This represents an obvious danger for buyers.
Brisbane has had elevated sales activity for the past 2-3 years, without delivering the level of overall price growth seen in Sydney and Melbourne. But now, like the two biggest cities, Brisbane markets are running out of steam. In the past three quarterly surveys, the number of suburbs with growing sales activity has decreased markedly. This replicates the pattern seen earlier in Sydney.
At the same time, some of the inner-city apartment suburbs are now classified as “danger markets” – sales rates are dropping at a time of increasing new supply. Investors need to be careful also about Brisbane Northside suburban markets, as vacancies are high in some suburbs.
But Adelaide continues to thrive. It started 2016 in solid fashion and has kept going.
Unlike the patterns we have seen recently in Sydney, Melbourne and Brisbane, where individual precincts have stood out as the market leaders, Adelaide has a broad geographical spread of LGAs with good numbers of growth markets. There are five municipalities which each have between four and six suburbs with rising sales trajectories likely to lead to price growth.
The No.1 municipality is the Port Adelaide Enfield LGA. This is one of the largest municipalities in Adelaide, covering the inner north and north-west of the city. Six suburbs in this LGA have rising markets, mostly suburbs with median house prices in the range from $390,000 to $520,000, which in Adelaide tends towards “middle market”. They include Broadview, Northgate, Clearview and Hillcrest.
Close behind is the downmarket Salisbury LGA in the far north of metropolitan Adelaide – it has five rising suburbs and seven with steady consistent sales rates. The suburb of Parafield Gardens has lifted sales from 53 to 63 to 75 in the past three quarters.
The City of Charles Sturt remains one of Adelaide’s solid middle-market areas with plenty of sales activity. The Charles Sturt LGA includes bayside suburbs west of the Adelaide CBD and has rising markets such as Flinders Park (median house price $530,000), Grange ($680,000), Henley Beach South ($735,000) and Seaton ($470,000).
The Marion and Onkaparinga municipalities both have four suburbs with rising sales activity. The Onkaparinga LGA in the far south of the Greater Adelaide area has been prominent in most of our quarterly surveys over the past two years and is one of South Australia’s leading precincts for population growth.
I’ve always regarded the Adelaide Hills as one of Australia’s most appealing Hill Change lifestyle areas. But while the Adelaide market generally has been rising for the past two years, the Hills haven’t stood out in terms of sales activity until 2016.
It’s taken time for the growth to ripple out to the metropolitan fringes. But now a number of the suburbs in the Mount Barker and Adelaide Hills LGAs are featuring with strong sales momentum, headed by the suburb of Mount Barker where sales rates have risen from around 70 per quarter to above 100.
Adelaide has always suffered from a lingering reputation as a place that lacks serious population growth or economic oomph. But it has more going for it than people realise – including a good level of spending on infrastructure – and above all else offers great value-for-money in its real estate, relative to the bigger cities.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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Adelaide claims top residential growth market

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A survey by Chinese international property portal Juwai.com has discovered how much international real estate professionals and agents really know about China and Chinese buyers, polling 1,402 international real estate professionals from 63 nations to find out.
According to Juwai international agents already working with Chinese buyers do have some basic knowledge of the country and can identify the Chinese flag (84 percent did so correctly) and the president’s face (75 percent did so), and they know that the US is the most popular country for Chinese buyers (67% were correct) .
<a href="/images/2016/10/04/Screen%20Shot%202016-10-04%20at%202.32.47%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/04/Screen%20Shot%202016-10-04%20at%202.32.47%20PM.png" alt="">
The survey said nearly 10 percent of respondents believe that the current leader of China is Kim Jong-un (who is actually the current dictator of N. Korea) or Mao Zedong (the founder of the People’s Republic of China, who died in 1976).
Juwai.com president of the Americas Matthew Moore said the overall correct answer rate was 48 percent, but in Canada it was only 50 percent.
"Canada did OK, but not that well considering it is a top five country for Chinese investment," he said.
<a href="/images/2016/10/04/Screen%20Shot%202016-10-04%20at%202.35.03%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/04/Screen%20Shot%202016-10-04%20at%202.35.03%20PM.png" alt="">
 "Real estate professionals in Cyprus, Turkey, France and Germany did better than those in Australia.   
“Australia was only the ninth-ranked country, in terms of the knowledge its international real estate professionals have about the Chinese buyers.   
 "That said, Australians did better than agents of other English-speaking countries, like New Zealand, the UK, the US and Canada.   
 "The countries that ranked best are located in Asia, of course. The second-best ranking countries were in Europe. English-language countries like Australia ranked third.   
“It's true that being able to recognize the Chinese flag might not make much of a difference when it comes to successfully working with Chinese buyers. But we find these simple questions are an indicator of whether real estate professionals have invested time and energy in learning about and building relationships with potential buyers from China.    
“Being able to understand and relate to the buyers that operate in your market is vitally important."
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