A full-scale Sky Homes prototype apartment for <a href="https://www.apartments.com.au/new-apartments/zeste-at-the-orchards-norwest-104-fairway-drive-norwest-nsw-2153">Zeste</a> has been opened by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a>, offering buyers a look at the final residential release within The Orchards masterplan in <a href="https://www.apartments.com.au/developments/norwest-nsw-2153">Norwest</a>.

The prototype launch coincides with buyer demand for larger apartment living continuing across Sydney’s Hills District.

David Lee, Sales Manager, Apartment &amp; Mixed-Use Developments at Sekisui House Australia said it was evident from the preceding four stages at The Orchards that a large number of buyers were local owner occupiers or downsizers specifically looking for oversized apartments with additional living spaces.

“The majority of buyers prefer to touch, feel and physically sight a full-scale completed apartment, rather than imagining the living spaces from floor plans," Lee says.

"The prototype apartment provides greater clarity and buyer confidence. We expect this will increase sales momentum for Zeste and the Sky Homes in particular.”

[smartcode_project:default project_id=150510 project_image_fid=351878]

Positioned within Stage 5’s Zeste project, the Sky Homes form part of the final opportunity to purchase within the award-winning master-planned community, which will ultimately deliver approximately 1,300 apartments.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, Zeste comprises two residential buildings, Essence and Eden, providing 209 apartments surrounded by extensive landscaping, resort-style amenities and community spaces.

Ben Pomroy, Principal at Rothelowman said Zeste explores a reinvention of the traditional house, in the orchard, synthesising the nostalgic story of the orchard homestead of yesteryear with a contemporary aesthetic inspired by the landscape.

“Natural light and ventilation are key to the design, contributing to a higher quality of life at the human scale. Across all Rothelowman projects, our ethos of ‘a generous eye for life’ drives our consideration of the human experience as the central point of focus of our design process.”

Pomroy says a&nbsp;notable design element is the cathedral glass light boxes incorporated in the joinery, inspired by the idea of wandering the orchard homestead with a lantern in hand, something familiar and nostalgic.

"We took this narrative and gave it a contemporary twist that is both beautiful and functional, creating unique features that unify the kitchen and bathrooms design.”

[smartcode_project:default project_id=150510 project_image_fid=351874]

In addition to the two residential buildings, Zeste comprises a single-story community amenity pavilion nestled in the landscape between Essence and Eden.

“The communal pavilion is a distinctive feature designed to foster a deep sense of community, with nature at its heart," Pomroy added.

"Whether it is watching the football grand final or hosting a family BBQ, the pavilion is designed as a place where residents can create memorable moments with friends, family and neighbours.

Since launching Essence, the first building within Zeste, buyer demand has remained strong with more than 30 per cent of residences already sold. Sky Homes have accounted for nearly 40 per cent of all sales achieved since launch.

“Purchasers are responding positively to the oversized layouts, diverse apartment configurations and the vast range of community facilities that will be available at completion,”David Lee noted.

Zeste Sky Homes represent approximately 35 per cent of the entire Stage 5 offering and are available across both Essence and the yet-to-launch Eden building. Prices for the Sky Homes range from $1,135,000 with one car space through to $1,500,000 for two car spaces.

Apartments across the broader Zeste release start from approximately $715,000, with generous floorplans ranging from 59 to 144sqm. Select residences also feature integrated ‘Max’ spaces, designed to function as flexible areas for home offices, children’s playrooms or additional storage.

Zeste also continues Sekisui House Australia’s sustainability partnership with Altogether Group, delivering integrated water, power and data services alongside passive design initiatives including cross-ventilation, landscaping and water features.

Early purchasers are currently able to access a selection of premium upgrade options, with VIP buyers receiving one complimentary upgrade package. A 2.5 per cent deposit is available for a short time.

Sekisui recently commenced its pre-construction phase. They are expecting an early 2028 completion of Zeste.

[smartcode_project_cta:default project_id=150510]

Joel Robinson

Zeste Sky Homes prototype opens as buyer demand surges for oversized apartment living

Having recently announced its entry into the booming Gold Coast new apartment market with <a href="https://www.apartments.com.au/new-apartments/aere-chevron-island-18-20-mawarra-street-surfers-paradise-qld-4217">Aere Chevron Island</a>, developer Martello™ is offering generous stamp duty savings for buyers before June 30.

Martello™ says the incentive creates a more accessible entry into premium apartment living.

"While incentives in property are nothing new, today’s stamp duty contributions arrive at a particularly important moment," the developer says.

"Buyers are not only seeking quality homes and strong locations; they are also looking for smarter financial entry points. Reducing or offsetting stamp duty can represent tens of thousands of dollars in savings - funds that can instead be directed toward furnishing a home, reducing mortgage pressure, or simply providing peace of mind during the transition into ownership."

[smartcode_project:default project_id=143932 project_image_fid=367517]

Aere is one of the more boutique new developments on Chevron Island, with just 33 apartments across 18 storeys on Mawarra Street

The developer has placed a strong emphasis on wellness, briefing architecture firm Raunik Design to embed this philosophy into the project.

<a href="https://www.apartments.com.au/developers/martello">Martello™</a>&nbsp;has positioned Aere as a continuation of its human-centric development approach, with a focus extending beyond amenity to the fundamentals of layout, natural light, and spatial planning.

[smartcode_project:default project_id=143932 project_image_fid=368446]

To bring a heightened level of confidence to the project, <a href="https://www.apartments.com.au/developers/martello">Martello™</a>&nbsp;has already appointed Promax Construction to build the tower. They are expected to start construction in the coming months.

Martello™ says that in any market cycle, confidence matters.

"Buyers who may have been waiting on the sidelines are now reassessing their timing as developers and vendors introduce meaningful incentives designed to support decision-making. For owner-occupiers, it creates an opportunity to secure a premium residence with reduced upfront costs. For investors, it can improve the overall acquisition equation at a time when rental demand remains exceptionally strong across many key markets."

&nbsp;

[smartcode_project:default project_id=143932 project_image_fid=367507]

Aere offers a mix of two-, three-, and four-bedroom apartments, the latter of which occupy half a flor. These layouts prioritise separation between living and sleeping zones, along with increased privacy and storage, features more commonly associated with detached housing than traditional apartment product.

Aere’s private resident amenity spaces centre on wellness. A rooftop level will incorporate a heated swimming pool, sauna and spa, alongside a residents’ lounge, dining areas and barbecue spaces, while additional shared facilities throughout the building include a gym and yoga area.

[smartcode_project:default project_id=143932 project_image_fid=367515]

&nbsp;

"What we are seeing now is a market that rewards readiness," Martello added.

"Buyers who are informed, financially prepared, and willing to act decisively are finding opportunities that may not exist once conditions shift again. Incentives such as stamp duty contributions are typically limited in duration and allocation, particularly within tightly held developments where demand remains high.

&nbsp;

Offer available on selected residences at Aere Chevron Island only. Stamp duty contribution provided by the developer at settlement and cannot be exchanged for cash or combined with any other offer unless approved by the developer. Offer valid for contracts signed on or before 30 June 2026. The developer reserves the right to amend or withdraw the offer at any time without notice. Terms and conditions apply.

[smartcode_project_cta:default project_id=143932]

Martello™ offers limited time stamp duty concessions at Aere Chevron Island

New development specialists Lachlan Cottee and Ben Dalgleish have unveiled their new development firm, Dalcott, following several successful projects delivered under the Pyco banner across the region.

Pyco is currently delivering Atelier in nearby West End, Nouveau in Albion, and Onde at Kirra, its debut Gold Coast apartment development in the booming Kirra Beach precinct.

Its first plans under the new Dalcott banner are in South Brisbane, which has been Brisbane’s most enquired-on suburb so far in 2026, while neighbouring West End has also continued to record strong demand.

The developer already has approval for an 11-storey building with 65 apartments on Browning Street, however has recently acquired the adjoining 910 sqm site at the rear, creating a combined 2,746 sqm footprint that will now allow for two 11-storey buildings with 92 large-scale apartments, a configuration Cottee and Dalgleish have focused on across their local portfolio.

The project, known as <a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a>, will comprise 84 three-bedroom apartments, 16 of which will include an additional multipurpose room, and just eight two-bedroom residences.

DAH Architecture has led the design of Marrone, which will include more than 330 sqm of communal open space and rooftop recreation areas.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="7eeea1a0-be23-47c8-80fb-3409428241fd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-21%20at%209.36.38%E2%80%AFAM.png?VersionId=pZW7o.tB7oJovYCRIFSxrZbMr6QdpHy." />

Cottee told Apartments.com.au the project reflects a gap in Brisbane’s apartment market.

"It is an area we know well with Atelier, another development which focuses on large apartments, less than 300 metres away," Cottee says.

"There's limited supply of large-scale apartments of this size in a single building in Brisbane. The majority of apartments in this category are in considerably smaller buildings, on the water, and are only really accessible to the deepest of pockets.

"Marrone will offer the same size and scale, but with greater amenity and at a much more realistic price point for the market."

The architectural approach reflects the continued evolution of South Brisbane’s higher-density residential character. Renders show a heavily landscaped façade composition with curved balconies, textured brickwork, deep recesses, and integrated planting aimed at softening the scale of the twin towers.

The revised proposal builds on the design narrative established in the original scheme. In the earlier submission, Gatehouse Architects described the project as a continuation of Browning Street’s long-term urban transformation.

“The proposal echoes the spirit of early developments like Watson Terrace (built in 1888), by contributing to the growth and diversification of the local population,” the original design statement noted.

“Just as Watson Terrace played a role in the area’s early gentrification, this development continues that trajectory, delivering contemporary housing that addresses the evolving needs of South Brisbane’s expanding community.”

The updated proposal, designed by DAH Architecture, spans a 2,746 sqm corner site with frontages to Browning and O’Connell Streets. The development will comprise two 11-storey residential buildings delivering 92 apartments, replacing the previously proposed 65-unit scheme.

The apartment mix has shifted further toward larger owner-occupier residences, continuing Dalcott’s established strategy across South East Queensland. The plans include 68 three-bedroom apartments, 16 three-bedroom apartments with multipurpose rooms, and eight two-bedroom residences. Two basement levels will provide 142 car spaces, alongside bicycle parking for 115 bikes.

The larger Marrone proposal arrives amid sustained redevelopment momentum across South Brisbane and the wider Kurilpa precinct, where developers are increasingly targeting owner-occupiers seeking larger apartments close to the CBD, cultural precincts, and riverfront amenity.

The site sits within walking distance of South Bank, the Queensland Performing Arts Centre, Brisbane State High School, and several major transport connections, while nearby Fish Lane and West End continue to drive demand for higher-end inner-city apartments.

Cottee is expecting Marrone to launch around August with Realm Projects.

Exclusive: Dalcott doubles down on South Brisbane with twin-tower Marrone plans

<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:9894702f-d5ab-4186-930d-8f794421c3c4-0" data-turn-id-container="request-WEB:9894702f-d5ab-4186-930d-8f794421c3c4-0" dir="auto">
<a href="https://www.apartments.com.au/developers/doma-group">DOMA Group</a> has unveiled plans for Newcastle Quay, a major waterfront precinct set to reshape Newcastle’s harbourfront and further cement the city’s evolution into one of Australia’s fastest-growing urban destinations.

Positioned on a prominent site within the Honeysuckle Precinct, Newcastle Quay will span both sides of Honeysuckle Drive, connecting directly to the Foreshore Promenade and sitting within walking distance of Newcastle Interchange.

The mixed-use precinct is planned to include around 1,000 apartments, more than 28,000 sqm of commercial office space, 6,000 sqm of retail, and a 180-room hotel anchored by a 500-seat conference and exhibition centre, a move expected to significantly lift Newcastle’s ability to attract major business and tourism events.
</section>

<img alt="DOMA Group unveil Newcastle’s future with transformative Newcastle Quay Precinct" data-entity-type="file" data-entity-uuid="0642ca09-67cc-4920-8a7e-d18df9729b4e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/%3D.png?VersionId=CnDmZxQnOV5LN0ePu7jaFBXC9tPGTrWm" />

The proposal builds on DOMA’s growing Newcastle pipeline, where the developer has already delivered 866 apartments and more than 19,000 sqm of commercial and retail space since entering the market in 2013. A further $2 billion pipeline is also in the works across the city.

The masterplan and executive architecture are led by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, with building concepts developed alongside Stewart Architecture, Architecture AND and Curious Practice, and landscape design by <a href="https://www.apartments.com.au/landscape-architect/turf-design">Turf Design Studio</a>. More than 11,000 sqm of open space is planned, including a new waterfront park known as Honeysuckle Green, upgrades to Tree of Knowledge Park, and new pedestrian and cycling links throughout the precinct.

At the centre of the development will be the heritage-listed Wickham School of Arts, which DOMA plans to reposition as the civic and cultural heart of the precinct through restaurants, bars, events and public gathering spaces.

The broader vision is to create a genuine day-to-night precinct, blending residential, hospitality, retail, commercial and cultural uses in a way Newcastle has yet to experience at this scale.

DOMA Group Managing Director Jure Domazet said the aim was to create a precinct that becomes synonymous with Newcastle itself.

“Our vision is to create a precinct that not only delivers high-quality commercial, residential, and cultural spaces, but also defines Newcastle’s waterfront for generations to come,” Domazet said.

DOMA’s Chris Farrington said the project would fundamentally change how Newcastle is perceived nationally.

“Newcastle Quay is more than a waterfront precinct, it is a national announcement for this city,” Farrington said.

“A world-class Conference and Exhibition Centre will open Newcastle and the Hunter Region to a national and international audience for the first time, delivering something this city has long deserved.”

The project is expected to generate more than 4,000 full-time equivalent jobs and act as a major economic driver for the Hunter region through tourism, business events, hospitality and commercial investment.

&nbsp;

&nbsp;

Minister for Planning and Public Spaces Paul Scully said the final parcel of harbourfront land will be a "true mixed-use precinct destination that includes housing, hospitality and entertainment, commercial spaces, retail, economic and social outcomes."

DOMA Group unveils 1,000-apartment Newcastle Quay precinct

ASX-listed developer Stockland is continuing to ramp up its return to the apartment market.

In late 2024, <a href="https://www.apartments.com.au/developers/stockland">Stockland</a> announced it would resume apartment development after a 13-year absence, launching with Stanton Place in Rosebery, a 144-apartment project now under construction.

Last week, the developer unveiled plans alongside the NSW Government for a <a href="https://www.apartments.com.au/news/nsw/first-look-stockland-nsw-gov-unveils-plans-for-3-300-home-waterloo-south-renewal">3,300-home precinct in Waterloo</a>.

Now, Stockland has shifted its focus in St Leonards, lodging a State Significant Development Application (SSDA) to replace an approved 42-storey office tower with a 52-storey residential development comprising more than 500 apartments.

<img alt="Stockland" data-entity-type="file" data-entity-uuid="8979095e-9072-432b-a7da-58b180cf994d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-20%20at%204.27.36%E2%80%AFPM.png?VersionId=_jbRXYOafCSHjwsz.yQCNIymMyCj8zkF" />

An existing 14-storey commercial office building would make way for a 264.5-metre tower designed by <a href="https://www.apartments.com.au/architects/bates-smart">Bates Smart</a>. The project would deliver 538 apartments, including 30 affordable housing units, alongside retail and commercial uses at the podium and ground plane.

It will rise from&nbsp;<a href="https://www.apartments.com.au/new-apartments/601-pacific-highway-st-leonards-nsw-2065">601 Pacific Highway</a>, a prominent 2,844 sqm triangular site adjoining Mitchell Plaza and fronting Pacific Highway.

The development is being pursued under the Housing Delivery Authority pathway after Stockland’s proposal was declared State Significant Development earlier this year.

<img alt="First look: Stockland plans 52-storey mixed-use tower with 538 apartments in St Leonards" data-entity-type="file" data-entity-uuid="67f40f35-0458-47ab-80c0-a4e98a31838a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%201.png?VersionId=rxXe3njr.auuGDuiR0k42uI8Zr4K.gZA" />

The apartment mix includes 217 one-bedroom apartments, 191 two-bedroom apartments, 122 three-bedroom apartments, and eight four-bedroom residences. Six basement levels would accommodate 300 car spaces, bicycle parking, loading areas, and building services.

Bates Smart said the project has been shaped around a series of urban design principles intended to improve the pedestrian experience and respond to the evolving character of St Leonards.

“With a boundary length of almost 75m along Pacific Highway and 70m along Atchison Street to the north, complying simply with the LEP envelope and required setbacks would result in a very wide tower form on the skyline,” the architects noted in the Design Report.

“We propose breaking the tower form into two defined volumes rather than a singular form.”

The podium has similarly been articulated into separate forms to reduce perceived bulk and create a finer-grain response to Mitchell Plaza and Atchison Street. Retail tenancies would activate the lower levels, while commercial space is proposed across the podium floors.

<img alt="First look: Stockland plans 52-storey mixed-use tower with 538 apartments in St Leonards" data-entity-type="file" data-entity-uuid="90149990-0551-40d2-bd48-14b69a015d12" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/stockland%202.png?VersionId=MJC2KIIWFvU9FPGr3IVq09gkRN_gX3m8" />

The design also places a significant emphasis on communal amenity and environmental performance. Residents would have access to landscaped terraces, wellness areas, flexible workspaces, and rooftop communal facilities, while the all-electric building is targeting an average 7-star NatHERS rating. Bates Smart said the project incorporates passive design measures including natural ventilation, integrated shading, and lightweight façade systems.

Planning documents note the site is around 350 metres from St Leonards Station and 400 metres from the metro entrance, placing it within one of Sydney’s most connected emerging residential precincts.

The project arrives amid a wave of large-scale redevelopment proposals reshaping the St Leonards and Crows Nest skyline. Several nearby sites have recently been approved, lodged, or declared under the Housing Delivery Authority pathway as the precinct absorbs significant residential density uplift tied to transit-oriented development policies.

<img alt="Stockland" data-entity-type="file" data-entity-uuid="7805bd7c-dfd7-4b35-8e15-ec4a8bf8e61b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-20%20at%204.27.26%E2%80%AFPM.png?VersionId=iY12K2m2bQ6EeDnshqfZC9rbLx_oEugP" />

Bates Smart’s report describes St Leonards as transitioning away from its historical commercial identity toward a more mixed-use urban environment.

“In recent years, the character of St Leonards has started to evolve, driven by new development trends along the Pacific Highway corridor,” the report said.

“These projects have increasingly focused on residential accommodation, marking a shift from its purely commercial roots.”

Sekisui House Australia is currently selling Waterstone down near Newlands Park, in a pocket being branded "St Leonards South." Hyecorp recently completed Audrey in the same pocket.

First look: Stockland plans 52-storey, 538-apartment St Leonards tower

Regional Victoria

The decision to buy the site of Geelong Quarter at 44 Ryrie Street back in 2017 was flagged as crazy by many, with Franze Developments Founder, Paul Franze, labelled “mad” even.&nbsp;

Now with 111 out of 124 apartments sold, including all 15 luxury residences, in the group’s twin-tower Geelong Quarter project, Franze has silenced the critics.&nbsp;

"If I remember back in 2017 when we were first offered the site. We had no idea at the time it would lead to us building the 1st Hotel in the city for some 20 plus years and the biggest private and largest mixed-use development in Geelong. Yet we had vision and we saw how Geelong was growing fast," Franze said.&nbsp;&nbsp;

The group also secured British hotel giant IHG Hotels &amp; Resorts and its Holiday Inn brand as the operator for the project’s 180-room hotel, the first new accommodation offering in the city for over 20 years.&nbsp;

[smartcode_project:default project_id=5559 project_image_fid=168395]

It’s been a long five years, with a pandemic in between, with the 15-level project topping out last month.&nbsp;

On the site of a former bus depot, the $200 million project has paved the way for developers, realising the potential of the state’s second city, which is only set to continue to develop.&nbsp;

As one of the biggest private sector developments in the bayside city, Geelong Quarter has launched a renaissance in the area, with the momentum of buyers looking to live outside the CBD only growing.

[smartcode_project:default project_id=5559 project_image_fid=195131]

Geelong’s proximity to some of the best surf beaches in the world, not to mention being home to a resurgent Geelong Cats team, have all added further gloss to the booming regional centre, Franze said.

“More than five million visitors come to Geelong annually, 45 per cent of which are overnight stays. The strong owner-occupier market, combined with the population boom, means there’s demand to cater for visitors to the city, as well as residents and workers. The Geelong Quarter has been designed with this in mind, to cultivate significant activity that will add incredible value to the city." he said.

Both the apartments and the hotel will further embed Geelong’s rising status, with the population expected to increase by 124,000 between now and 2041, along with being a popular tourist destination.&nbsp;

[smartcode_project:default project_id=5559 project_image_fid=173776]

On the residential side, plans by the City of Greater Geelong to quadruple the Geelong CBD residential population to more than 10,000 by 2030 is expected to drive demand for around 2500 apartments, while its liveability status has only been enhanced by the work-from-home trend.

Deputy Mayor Trent Sullivan said Central Geelong’s population is growing faster than the broader municipality.

“Geelong Quarter will not only attract new residents, but also lift the standard of accommodation for visitors keen to explore the city,” he said.&nbsp;

“This development is a great indication of the level of activity and investment the area is experiencing, as more people learn why Central Geelong is an attractive place to live, work and socialise.”

[smartcode_project:default project_id=5559 project_image_fid=195130]

Further tipping the scales in the move to Geelong comes with the Port of Geelong, which will soon be the sailing point for the Spirit of Tasmania, as well as the $140 million redevelopment of the Geelong Arts Centre, which is situated across the road from Geelong Quarter.&nbsp;

The Franze vision was to create a new gateway site at the south-western end of Ryrie Street, but also create a new link between the CBD, the cultural precinct and the bay.

"I suppose in life nothing comes easy and this development is a true reflection of this, we initially set out on developing a hotel, office and mixed use development, then Covid hit and we quickly realised that trying to development and spec 9000 sqm office building with no tenants was going to be a monumental task, so we &nbsp;altered our direction and subsequent permit to what you see here today, the largest mixed use development in Geelong,” Franze said.

Residents of the apartments in Geelong Quarter can expect to move in before the year’s out, while the hotel is expected to open its doors by late January.&nbsp;

[smartcode_project:default project_id=5559 project_image_fid=88246]

The final collection of residences in Geelong Quarter are currently selling, with only 13 remaining in Ryrie Home.

Ryr​ie Home features a collection of 109 one, two and three-bedroom apartments that benefit from a Rooftop Residents terrace with BBQ and northern bay views.&nbsp;

Residents will also benefit from room service, housekeeping, a swimming pool, business centre, flexible meeting, and function spaces, all atop the newly built hotel.&nbsp;

RPM Sales Director, Nic Cuni, said he had been fielding a flurry of enquiries post the final siren.&nbsp;

"There's been a number of calls from people who had been flirting with the idea of buying an apartment at Ryrie Home. With only 13 apartments remaining and all larger owner-occupier north facing, I'm expecting the footy hype will flow over into solid deals."

[smartcode_project_cta:default project_id=5559]

alisonwarters@gmail.com

Geelong Quarter's Ryrie Home nears sell-out as completion approaches

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EXPERT OBSERVER

I’ve been telling our customers for the past two years that the outstanding property market in Australia is Regional Victoria.

And multiple data sources continue to support the view that anyone seeking affordable property, good rental yields and in particular great capital growth would be wise to consider Regional Victoria.

There is no other market jurisdiction in Australia that has delivered so many locations with double-digit growth in their median prices in the past 12 months. Equally, Regional Victoria is a national leader on locations with strong long-term capital growth rates.

The regional areas of Victoria were also prominent in the latest Pain and Gain Report from CoreLogic which highlights the number of properties sold for a profit in the September 2019 Quarter.

Why is Regional Victoria doing so well? Partly it’s because Victoria is the No.1 economy in the nation. The latest State of the States report from CommSec confirms Victoria as the leading economic performer in the nation, with New South Wales slipping down the rankings to third.

[smartcode_project:default project_id=5559]

And partly it’s because Victoria continues to be the No.1 state for population growth, gaining significantly from both overseas and interstate migration.

Victoria’s ranking as the No.1 economy and population growth state isn’t just about Melbourne – the regions have been major contributors to the state’s success.

Recent data on unemployment showed that Regional Victoria leads the states in jobs growth and has the lowest unemployment rate. ABS data shows that 20,000 people found work in regional Victoria in the three months to November.

Regional Victoria’s jobless rate is 3.7% – the lowest in the nation and well below the average regional rate of 5.1%. In the past five years, regional Victoria’s unemployment rate has decreased by 2.9 percentage points.

This is translating into exceptional performance in real estate.

CoreLogic’s quarterly Pain and Gain report (which compares the prices of properties sold in the September Quarter with their previous sale) found that Hobart was the national leader – 98% of houses sold made a profit.

[smartcode_project:default project_id=27406]

But close behind in second place was Regional Victoria, where 97% of houses sold for a price higher than the vendors paid previously (ahead of Melbourne’s 96% and Sydney’s 92% - and the national average of 90%).

In terms of apartments, Regional Victoria ranked third in the national (94%), well above the national average of 80%, Sydney’s 87% and Melbourne’s 85%.

The out-performance of Regional Victoria locations shows up in price growth data for the past year and also for the past decade.

Dozens of Regional Victorian locations have recorded double-digit growth in their median house prices in the past 12 months.

Ballarat has been particularly outstanding, with Ballarat Central (13%), Brown Hill (20%), Golden Point (18%), Lake Wendouree (11%), Mt Pleasant (21%) and Wendouree (10%) all producing strong price growth.

The City of Greater Geelong also produced multiple growth leaders, including Barwon Heads (12%), Bell Park (12%) and Drysdale (20%).

Other high-growth locations were spread around the state, including Newborough (16%), Wonthaggi (14%), Heathcote in Bendigo (17%), Maldon (17%), Irymple near Mildura (23%), Daylesford (13%) and Mansfield (13%).

This kind of growth in not a one-off event – many Regional Victorian locations have long-term capital growth rates above 7% per year, with some nudging 9% per year – which puts them alongside the best in the nation.

[smartcode_project:default project_id=29358]

The City of Greater Geelong, Ballarat and the Macedon Ranges LGA all have multiple locations with capital growth rates between 7% and 9% per year.

Lake Wendouree in Ballarat has averaged 8.9%, while Woodend (Macedon Ranges) and Norlane (Geelong) have both averaged 8.7% per year.

Others with capital growth rates above 8% per year include Beveridge, Daylesford, Maldon, Geelong (the suburb), Kyneton and Herne Hill (Geelong).

TERRY RYDER is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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terryryder-YECXbqmri2

Regional Victoria is Australia's most outstanding property market: Hotspotting's Terry Ryder

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This summer has earmarked a trend in Australians keen to invest in a holiday home to call their own.

“With the costs of renting a holiday home soaring thanks to huge local demand, combined with record-low interest rates, we’re experiencing a unique situation where it may actually be more cost-effective to buy rather than regularly rent a holiday home”, said David Hancock, senior financial planner at Montara Wealth.

In Victoria, the major coastal regional market of Geelong is seeing an increase in value. Geelong remained the most profitable regional coastal markets in the last CoreLogic pain and gain report, with 98.6 per cent of properties selling at a profit.

To assist in your search, Urban takes a look at six stunning coastal properties to consider in the Garden State. 
 

1. Vista Apartments, Highett 
Address: 9 Remington Drive, Highett VIC 3190 
Two-bedroom apartments from $699,500

[smartcode_project:default project_id=3303]

If you’re looking for a home in Melbourne’s coastal Bayside, look no further than Vista Apartments.

Combining 154 apartments designed to accommodate a modern lifestyle, Vista is the second stage of Hallmarc’s Kingston Park masterplanned community/

Addressing the need to express your individuality with the desire for connectivity is at the heart of this project’s design with open-plan living areas, rustic timber flooring, and a large breakfast bar for social dining and entertaining.

Exclusive, outdoor communal spaces allow residents to mingle with neighbours, and offer informal outdoor seating, manicured gardens and courtyard space.

Residents at Vista will have access to a heated swimming pool, fully-equipped gym and inspiring views that overlook the expansive parklands of Sir William Fry Reserve. 
 

2. Sandy Hill Penthouse, Sandringham 
Address: 222 Bay Road, Sandringham VIC 3191 
Three-bedroom penthouse from $1,950,000

[smartcode_project:default project_id=324]

With Melbourne’s best beaches at Half Moon Bay just two kilometres away, Blueprint Projects’ Sandy Hill Penthouse provides the ideal coastal getaway from busy city living.

Perched atop the ninth floor of the Master Builders Association award-winning complex, the three-bedroom penthouse European oak parquetry flooring, executive-quality study with integrated desk and triple-glazed window suites.

Designed by Watson Young Architects, the contemporary penthouses feature a fireplace, cocktail bar and bespoke kitchen.

Ideal for entertaining family and friends, the home includes a wrap-around terrace that boasts stunning views out to the bay, city and Dandenong Ranges.  
 

3. Avenue, Brighton East 
Address: 14 Gleniffer Avenue, Brighton East VIC 3187 
Three-bedroom townhouses from $2,290,000

[smartcode_project:default project_id=29935]

Less than five kilometres from Brighton Beach, Avenue townhomes provide something a little different for the coastal home lover.  

Delivered by Skelton and designed by innovative architecture practice ADDARC, Avenue engages with Japanese-influenced charred timber and production-grade zinc to create a moody and modern home.

The perfectly crafted three-bedroom townhomes feature expansive, light-filled living and dining, 4.4-metre-high cathedral ceilings, floor-to-ceiling windows and exceptionally appointed kitchens.

Beyond the home’s living areas, the development features a lush private garden designed by renowned Jack Merlo and a private garage for two or three cars will protect your cars from potentially harmful sea breezes. 
 

4. Ryrie Home, Geelong 
Address: 44 Ryrie Street, Geelong VIC 3220 
One-bedroom apartments from $375,000

[smartcode_project:default project_id=5559]

Ryrie Homes is perfect for residents who desire to make the best of Australia’s fastest-growing regional city whilst still enjoying a peaceful coastal lifestyle.

Delivered by Franzé, the project puts the focus on what really matters, and joy in the simplest pleasures.

Each apartment has been cleverly designed to deliver great amenity, comfort and abundant storage, with timber flooring, beautiful finishes and quality fixtures.

Designed by Architectus, Ryrie enjoys panoramic bay views and alfresco dining for year-round holiday living.

With the foreshore, 500m north and the CBD, 500m east—as well as parks, theatres, galleries, cafés and restaurants all within walking distance—Ryrie Home offers a level of culture and connection unmatched in Geelong. 
 

5. Awaken, Brighton 
Address: 30-32 Roding Street, Brighton VIC 3186 
Two-bedroom apartments from $1,150,000

[smartcode_project:default project_id=30087]

Located a six-minute drive from Brighton Beach, and nearby Sandringham Yacht Club and the Royal Melbourne Golf Club, Awaken provides unmatched leisure amenities, perfect as a holiday home or holiday-style living.

Delivered by SKELTLON, the collection of 13 townhomes are designed by celebrated Melbourne architect, Travis Walton, with landscaping by ACRE.

In summer, push open the full-width doors and enjoy your spacious outdoor courtyard, with plenty of space for alfresco dining or relaxing with a good book amongst the verdant greenery.

The development boasts meticulous detail and contemporary design. It includes natural oak timber flooring, full wall storage, a stunning statement fireplace and lush, cascading greenery. 
 

6. Sixth Avenue, Chelsea Heights 
Address: 15 Sixth Avenue, Chelsea Heights VIC 3196 
Two-bedroom townhouses from $599,000

[smartcode_project:default project_id=32136]

Realise your bayside dream with exceptional coastal living at Sixth Avenue in sought-after Chelsea Heights.

The 59-townhouse development, delivered by Aultun Group, provides the ideal Melbourne Bayside abode with an endless array of retail, dining and recreational amenities, as well as two-storey designs and expansive private courtyards.

Designed by Point Architect, the homes boast sleek interchanging façades that blend soft greys with rich earthy tones.

The contemporary townhomes deliver space and function, with light-filled interiors, elegant bedroom retreats and a gourmet kitchen.
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Urban takes a look at six stunning coastal properties to consider in the Garden State

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More than just the Garden State: Check out six of the best coastal developments across Victoria

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EXPERT INSIGHT

Hobart and regional Victoria profit most, shows latest CoreLogic Pain and Gain report

CoreLogic’s Pain and Gain report for the September 2020 quarter released today has revealed Hobart retained its position as the capital city with the highest rate of profit making resales at 96.6%, while regional Victoria was the most profitable ‘rest of state’ region with 97.5% of dwellings sold for a profit in the three months to September.

Nationally, the proportion of resales that made a profit was 88.1% or $24.8 billion in profits, up from 87.2% or $19.8 billion in the June 2020 quarter. However, the amount of losses also deepened on non-profitable sales, from -$885 million in the June quarter to -$1.2 billion in September.

The Pain and Gain analysis for the September quarter reflects the resilience seen in the property market throughout 2020.

Each of the greater capital city markets, with the exception of Melbourne, saw an increase in the rate of profit making sales over the September quarter. The highest rate of profit making sales was across Hobart, which has been the case since March 2018.

Coastal regional markets were also particularly profitable for sellers, with profit making sales representing over 95% of resales across six major coastal markets: Geelong, Illawarra, the Mid North Coast, the Newcastle Lake Macquarie region, the Richmond Tweed region and the Sunshine Coast. The Sunshine Coast hit a record high rate of profit making sales in the September quarter at 96.4%.

Comparing the capital cities to regional Australia, the portion of profit-making sales increased more rapidly across the regions than capitals.

The combined regional Australian market saw the rate of profit making sales increase 150 basis points, to 89.2% in the September quarter, while the rate of profitability across capital city markets expanded 30 basis points, to 87.2%. This also reflects the divergent performance between regional and capital city real estate markets through 2020.

Houses vs Units

The report also demonstrates that there was generally a higher rate of return for houses ($225,000) than units ($125,000).

Profitability across both houses and units rose across Australia in the September 2020 quarter. The portion of properties sold at a loss among houses fell from 10.2% in the three months to June to 9.6%, while the portion of loss making unit sales fell from 21.4% to 19.6%.

The differential between house and unit profitability narrowed to 10 percentage points in the September quarter, down from 11.2 percentage points in the three months to June. The narrowed differential was a result of unit profitability rising faster than that of houses. Even though the rate of loss making sales declined faster across the unit segment, units were still about 2 times more likely to sell for a loss than houses in the September quarter.

Investors vs Owner Occupiers

A higher portion of property investors sold their dwelling at a loss during the September quarter compared with owner occupiers. Investor sales in the September quarter saw 17.1% of properties sell for a loss, compared with 10.4% of owner occupied sales.

Despite the higher rate of loss observed in investor sales in the quarter, the rate of properties re-sold at a loss was down from 18.0% in the June quarter, while the rate of loss making sales among owner occupiers was down from 11.1%.

The only region where there was a higher incidence of loss making sales among owner occupiers was across Hobart. This has been a consistent trend across the past few quarters. In the three months to September, 3.2% of owner occupied resales saw a nominal loss, compared with just 1% of investor sales.

The relatively low level of loss making sales among both cohorts reflects the exceptional capital growth across the Hobart market. CoreLogic home value indices show dwelling values across Hobart have seen annualised growth of 7.9% for the 5 years to December 2020, the highest annualised growth rate of the capital city markets.

Hold periods

Analysing returns by hold period suggests a greater amount of gain comes from more time in the market.

Over the September 2020 quarter, the median hold period of re-sale events across Australia was approximately 8.5 years. For profit making sales, the median hold period was 9 years, while loss making sales were typically held for 6.7 years. For houses and units, typical hold periods were longer across profit making resales.

The Australian housing market is expected to improve further in the coming months. With record low mortgage rates, a faster than expected economic recovery and relatively low cases of COVID-19, profitability is tipped to trend upwards over the coming quarters.

Eliza Owen is CoreLogic’s Head of Research Australia
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Regional Victoria and Hobart homes profited most in Q4 2020: CoreLogic's Eliza Owen

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EXPERT OBSERVER
Regional Victoria is the stand-out market in Australian real estate. Against a backdrop of Regional Australia providing the leading growth markets across the nation, Regional Victoria has large numbers of towns and suburbs with rising buyer demand and the strongest price growth anywhere in Australia. 
Our Summer survey of sales activity has identified 51 markets in Regional Victoria with rising demand, the highest since we started our quarterly sales surveys four years ago. Only Adelaide among the nation’s market jurisdictions has more growth markets than Regional Victoria – which also has another 90 locations with steady buyer demand.
The uplift in markets in Victoria outside Melbourne has created exceptional price growth: our latest survey has found 118 locations with median house price growth above 5% in the past 12 months, including 85 above 10% - of which 25 have grown more than 20%. A key factor is that most of these places have delivered price growth in the most recent quarter, as well as the past year, which means prices are still growing.
The leading locations are Clunes and Macedon (top) up 36%; Bunyip and North Wonthaggi 32%; Norlane 29%; Trentham 28%; Port Fairy 27%; Corio and Newcomb 26%; Warragul 24%; Officer, Cockatoo, Romsey, Whittington and Indented Head 22%; Inverloch, Loch Sport, Maryborough and Golden Point 21%; Avoca, Beveridge, Broadford, Maddingley, St Leonards and Woodend all 20%.
Bendigo, which overtook previous market leader Ballarat in our Spring 2018 survey, has increased its lead in the Summer survey. It now has 10 suburbs with rising demand, making it one of the leading LGAs in the nation. Growth suburbs include California Gully, Golden Square, Kangaroo Flat, Long Gully, Maiden Gully and North Bendigo.
The recent surge in sales activity is starting to create solid price growth, with California Gully, Eaglehawk, Flora Hill, Heathcote, Kennington and North Bendigo all up 6-8% in the past year. Like Ballarat, Bendigo is attracting both investors and home-buyers from Melbourne and elsewhere.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/2/Subscriber%20strip%20ad.jpg" alt=""></a>
Growth markets in Ballarat, which is ahead of Bendigo in the market cycle, have reduced to five and there are now 10 suburbs classified as “plateau” markets.  The previous uplift in demand has created a climate where most Ballarat suburbs are delivering big price growth: 14 suburbs are up by more than 5% in the past year, headed by Golden Point (21%), Buninyong (15%), Ballarat North (15%), Redan (16%) and Wendouree (17%).
A new contender has emerged in our past two quarterly surveys: the towns of the Latrobe Valley. Traralgon, Churchill, Moe, Morwell and Newborough all have growth markets. Quarterly sales in Churchill have been rising steadily, with the median house price up 9% in the past 12 months – but still below $200,000.
Quarterly sales have also risen in Moe in the past year and its median has grown 3%, but also remains below $200,000. This high level of affordability is a key drawcard for this market, which is being boosted by government investment to mitigate the impact of power station closures.
Geelong remains a strong market – one of the nation’s most prolific – but sales activity is no longer growing the way it has over the past two years. It now has more plateau markets than rising ones. But the strong demand of the past two years continues to deliver price growth – 24 suburbs of Greater Geelong have risen more than 10% in the past 12 months, with Corio, Norlane, Newcomb, St Leonards, Whittington and Indented Head all above 20%. 
Other regions where demand has passed its peak but price growth remains high include the LGAs of Cardinia (Pakenham, Officer, Bunyip and Emerald), Baw Baw (Warragul, Drouin and Trafalgar), Mitchell (Broadford, Beveridge and Kilmore), Surf Coast (Anglesea, Apollo Bay and Torquay), Bass Coast (Cowes, Inverloch and Wonthaggi) and Macedon Ranges (Gisborne, Kyneton, Romsey and Woodend).
But new growth markets are now occurring right across Victoria. At Portland in the far south-west of the state – quarterly sales have been on an upward trajectory for the past two years.
Also in the south-west, there’s rising activity in Warrnambool, with median prices up 14% in Koroit and 7% in Warrnambool, while in nearby Port Fairy the median house price has risen 27% to $620,000.
In the Central Goldfields, quarterly sales in Maryborough have increased in the past 12 months and its median house price has grown 21% to $225,000.
In the far east of the state, three locations in East Gippsland have rising demand – Bairnsdale, Eastwood and Lakes Entrance. Quarterly sales in Bairnsdale have grown from 50-55 12-18 months ago to 70-75 more recently. The median price in Lakes Entrance has grown 12% to $320,000 in the past year, while Metung is up 7% to $365,000.
Other markets with growing signs of uplift include Shepparton, Wangaratta and Wodonga. 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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Regional Victorian leads the nation in house price growth: Hotspotting's Terry Ryder

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EXPERT OBSERVER
Regional Victoria remains a stand-out market on price performance, although the two latest quarterly surveys conducted by Hotspotting indicate that sales activity overall is not as strong as 2018. 
Some of the key markets have passed their peaks in terms of buyer demand, although other locations are now rising.
In our Winter survey of sales activity, we have identified 22 markets with rising buyer demand, down from 29 in the Autumn survey and a significant reduction on the 51 in the Summer survey. This is primarily because the two growth leaders of the past couple of years, Geelong and Ballarat (pictured above), have passed their peaks in terms of sales activity.
Other recent growth markets appear to have moderated also, including Cardinia Shire on the south-eastern fringe of Melbourne, where Pakenham and Officer have recorded a significant decline from the previous peak levels of sales activity. But new growth markets are appearing.
We have previously declared Regional Victoria to be the strongest market in the nation. Most of the growth markets that have inspired that assessment have been locations within commutable distance of the Melbourne metropolitan area. Now growth markets are being found in locations more distant from the state capital, including Wodonga, Wangaratta, Port Fairy and Portland.
But the No.1 market continues to be Bendigo. It has overtaken Geelong and Ballarat, based on the number of suburbs with rising sales activity.
Bendigo now has eight suburbs with increasing demand, as well as numerous others with steady sales performance. Growth suburbs include Golden Square, Kangaroo Flat, Kennington, Long Gully, Maiden Gully, White Hills and North Bendigo. Quarterly sales in the suburb of Epsom have grown from 20-25 two years ago to 35-40 more recently. Its median house price ($355,000) is typical of pricing in Bendigo, one of the strongest regional cities of Victoria.
Wangaratta (median house price $315,000) has emerged as a market where sales demand has grown steadily over the past two years. Quarterly sales have risen from 80-85 two years ago to around 120 more recently. Its median price has risen 13% in the past 12 months.
Further north at the NSW border, Wodonga (median $340,000) presents as a solid market with growing strength.
In the western areas of the state, both Port Fairy and Portland have had steady increases in quarterly sales. Portland’s quarterly sales pattern of 33, 41, 45, 48, 48, 52, 76, 86, 77, 79, 95, 90 and 101indicates a market that has grown steadily over the past three years, with its median price up 5% to $240,000 in the past 12 months. Port Fairy’s median has increased 7% to $600,000 in the past year.
Geelong has been Victoria’s strongest real estate market in recent years. However, our Winter survey has found only two rising suburbs in terms of sales activity but 20 plateau suburbs, which means sales have tapered off below the former peak levels. There’s a similar trend in Ballarat: it has two rising suburbs, but 11 plateau suburbs and six consistency markets.
Despite being passed their peaks in terms of buyer demand, both Geelong and Ballarat are still delivering significant price growth: 17 suburbs of the City of Greater Geelong and nine in the Ballarat LGA have had double-digit growth in their median house prices in the past year.
A number of Regional Victoria markets have had median price growth above 20% in the past 12 months. Five of them are Geelong suburbs – Indented Head, Mt Duneed, Newcomb, St Leonards and Whittington. Big growth has also occurred in Mt Pleasant and Wendouree, suburbs of Ballarat, as well as Cowes and Wonthaggi in the Bass Coast LGA. 
But the No.1 location in Regional Victoria for annual median price growth is Loch Sport in the Wellington LGA, up 30% in the past 12 months.
Four towns in the Macedon Ranges LGA had recorded double-digit increases in their median house prices, including Woodend which rose 21%. But our Winter survey confirms that this area has peaked in terms of sales activity. It’s a similar story with the Mitchell LGA, where towns like Beveridge, Broadford, Kilmore, Seymour and Wallan have attracted strong buyer interest in the past two years.
Overall, Regional Victoria has been an outstanding performer on price growth, arguably the best in the nation, in the past 12 months. We have analysed price performance for 140 towns and suburbs and found that 89% have median house prices higher than a year ago. Two-thirds of Regional Victoria locations have risen by more than 5%. 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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Regional Victoria remains stand-out market, but sales activity drops: Hotspotting's Terry Ryder

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EXPERT OBSERVER
While media obsesses over big city markets where prices are falling, the nation’s hottest markets keep flying under the radar screens of all but the best-informed investors.
I’ve written a lot about Regional Victoria, which I regard as the nation’s strongest market, in terms of both busy sales activity and big price increases, as well as affordable prices and good rental yields.
Most property watchers will be aware of the strength of markets like Geelong, Ballarat and Bendigo, but new contenders keep popping up, many of them locations most people would know little about – or have never heard of.
During my most recent Live Q &amp; A on social media, someone asked what I thought about the market in Warburton (pictured top). I had to admit I knew little about the town. But something is happening in Warburton, up in the Yarra Ranges 70km east of central Melbourne. Its median price has risen 17% in the past year to reach $485,000.
Locations with those kind of growth numbers are the norm, not the exception, in Regional Victoria right now. And new ones keep emerging, replacing the early movers as market leaders.
This is because some of the state’s regional markets have passed their peaks. Geelong, for example, has been one of the nation’s most prolific markets in the past two years, but sales activity is no longer growing. It now has more plateau markets than rising ones. 
Other regions where demand has passed its peak (but price growth remains high) include the LGAs of Cardinia (Pakenham, Officer, Bunyip and Emerald), Baw Baw (Warragul, Drouin and Trafalgar), Surf Coast (Anglesea, Apollo Bay and Torquay), Bass Coast (Cowes, Inverloch and Wonthaggi) and Macedon Ranges (Gisborne, Kyneton, Romsey and Woodend).
But new growth markets continue to occur across Victoria. 
At Portland in the far south-west of the state, quarterly sales have been trending steadily upwards for the past two years. With a median house price of $235,000, affordability is a strong attraction, as well as the seaside lifestyle and the noted fishing resource.
Also in the south-west, there’s rising activity in Warrnambool, with median prices up 7% in Koroit and 5% in Warrnambool, while in nearby Port Fairy the median house price has risen 26% to $630,000.
In the Central Goldfields, quarterly sales in Maryborough have increased from 48 to 55 to 71 in the past year and its median house price has grown 18% to $230,000.
In the far east of the state, numerous locations have rising demand, including Bairnsdale and Lakes Entrance. The median price in Lakes Entrance has grown 13% to $325,000 in the past year, while Metung is up 7% to $375,000.
Other Regional Victoria markets with growing signs of uplift include Bright (up 17% to $575,000), Shepparton (up 5% to $275,000), Wangaratta (up 14% to $315,000) and Wodonga (up 3% to $350,000).
Another location that blipped on our radar screen recently, thanks to a client inquiry, is the town of Benalla, where the median house price has increased 10% in the past 12 months, but remains attractively cheap at $275,000. One of the big local drivers is a business which has won a major contract with Melbourne’s West Gate Tunnel project, creating 400 local jobs.
And then there’s Echuca. After watching this market chug along steadily for years, I’ve been forced to include it in the new edition of Top 5 Regional Victoria Hotspots - because, well, it can no longer be ignored.
Echuca is one of those strong regional centres which form the backbone of the nation in industries like agriculture, tourism and manufacturing – and while many people have heard of it, few have ever been there.
Hotspotting has often featured Echuca in The Price Predictor Index on the National Top 50 list of most consistent markets, as measured by quarterly sales volumes. Indeed, in one of our 2017 editions of the quarterly report, we named it the nation’s most consistent market.
And it keeps on keeping on, driven by a strong and diversified local economy, and steady growth. In the past 12 months, its median house price has lifted 16% to $365,000.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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Real estate hotspots continue to emerge in regional Victoria: Hotspotting's Terry Ryder

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EXPERT OBSERVER
It’s been fascinating watching the ripple effect spread real estate growth throughout regional Victoria.
While the Melbourne market has been in decline in the past 18 months or so (generally speaking - some sectors have strongly resisted price decreases), there’s been notable price growth happening in Victoria markets outside the state capital.
Over the past 12-18 months, I have nominated Regional Victoria as the strongest market in the nation. Regional Victoria has been – and still is - one of the nation’s outstanding jurisdictions on price performance.
The standout feature in my latest analysis of sales activity and price trends is that locations a greater distance from Melbourne are now enjoying significant growth in prices.
Initially, most of the growth markets were locations within commutable distance of the Melbourne metropolitan area. It started with Geelong (pictured above) and, just outside the south-eastern outskirts of the metro area, the key towns of Cardinia Shire, Pakenham (below) and Officer.
<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/2019/9/16/Pakenham.jpg" alt=""> Pakenham from above.
Then we saw Ballarat and the hill change towns a little north of Melbourne start to grow, as well as the towns of Baw Baw Shire in the east (Warragul and Drouin).
More recently, Bendigo in the north and the towns of the Latrobe Valley in the east have got on board.
And now growth markets are being found in locations more distant from the state capital, including Wodonga, Wangaratta, Echuca and Mildura. Some of the towns of East Gippsland (where I was last week, speaking at two events in busy Bairnsdale) are showing signs of growth as well.
My analysis of price trends shows that 84% of Regional Victoria markets have recorded median price growth in the past 12 months. Price decline of any magnitude is rare: I can find only one regional location where the median house price has fallen more than 5%.
Six out of 10 Regional Victoria markets have recorded median price growth above 5% in the past year – a total of 96 strong growth markets in the state outside of Melbourne, of which 35 have had double-digit growth in their median house prices. Another 39 markets have recorded price growth under 5%.
Ballarat is the standout on price performance. Four suburbs have had annual growth in their median house prices of 20% or more – Mt Pleasant (29%), Brown Hill (22%), Golden Point (21%) and Wendouree (20%).
But the No.1 location for annual price growth is the town of Maldon (below) in the Mt Alexander LGA north of Melbourne, where the median has risen 30% to $525,000 in past 12 months.
<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/2019/9/16/Maldon.jpg" alt=""> Maldon high street.
Notable price growth is happening elsewhere around the state: locations with annual median price growth between 15% and 20% include Cowes and Wonthaggi in the Bass Coast LGA; Geelong suburbs Drysdale, Whittington and St Leonards; Woodend in the Macedon Ranges LGA; Venus Bay in South Gippsland; Loch Sport in the Wellington LGA; Koo Wee Rup in Cardinia Shire; and Daylesford in the Hepburn LGA.
Many of these markets, especially Geelong, Ballarat and Bendigo, are attracting buyers out of Melbourne, as both investors and home-buyers seek affordability and/or better rental yields.
And new growth markets are emerging further afield.
Wangaratta (median house price $315,000) has emerged as a market where sales demand has grown steadily over the past two years. Quarterly sales have risen from 80-85 two years ago to around 120 more recently. Its median price has risen 11% in the past 12 months.
Further north at the NSW border, Wodonga (median $340,000) presents as a solid market with growing strength.
In the western precinct of the state, Port Fairy has growing sales activity and its median house price has increased 7% to $615,000 in the past year.
Other precincts which show promise of joining the general growth trend in Regional Victoria include the LGAs of Wellington (where Sale has rising sales activity), Latrobe (including Traralgon and Morwell), and East Gippsland (where Bairnsdale, Paynesville and Lakes Entrance have steady activity, with signs of prices rising).
All those municipalities are east of Melbourne, where growth is gradually rippling out from previous up markets in the LGAs of Cardinia (Pakenham and Officer) and Baw Baw (Warragul and Drouin).
But the growth isn’t just a reaction to the ripple effect and markets following the lead of Melbourne’s recent boom. Markets don’t rise unless something is happening in the local environment – such as a busy local economy, new business ventures, improved transport links and/or new spending on infrastructure.
The background is strong. The state of Victoria is the No.1 ranked economy in the nation, according to CommSec’s State of the States report, and continues to lead the nation on population growth. 
The states leads Australia on a number of other key indicators, including income growth, improvement in the jobless rate, building approvals, uplift in housing affordability and the number of first-home buyers active in the market.
All of that is helping to create the environment in which locations across Victoria have rising property values.
 
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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More regional Victoria areas seeing over five percent yearly gains: Hotspotting's Terry Ryder

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EXPERT OBSERVER
We don’t often get sensible analysis of price data from economists - mostly they generalise about “the Australian property market” - but Westpac senior economist Matthew Hassan provides an exception.
In a recent article he notes that some sections of the Melbourne market are still strong and that Regional Victoria has many locations with rising prices. 
This correlates with recent Hotspotting research revealing that the cheaper areas of Melbourne still have strong prices while Regional Victoria is the most buoyant market in the nation.
Hassan says Melbourne’s overall price correction “has shown much bigger differences across segments and tiers” than has Sydney. 
“For Melbourne, units and bottom tier areas are holding up much better,” he says, noting that prices across the bottom 25% of the market remain resilient.
“This theme is also apparent across sub-regions. The big movers over the second half of 2018 were Melbourne’s Inner East and Inner South, with the Inner City and West holding up considerably better. 
“Prices are also performing better across Regional Victoria.”
Hassan says that, overall, the city’s rental market remains tight with vacancy rates holding around 2%.
“Meanwhile, rental vacancy rates are extremely tight across Victoria’s regions, having fallen from 2% in late 2017 to just 1.2% in early 2019,” he says. “This in turn suggests the uneven performance is likely to continue.”
Hotspotting’s regular nationwide research into sales activity and price movements has identified numerous growth markets in Regional Victoria.
They include Geelong (above), Ballarat, Bendigo, Pakenham, Officer and Warragul, as well as many smaller towns within an hour or so of Melbourne.
The Price Predictor Index published by Hotspotting ranks Regional Victoria as the No.1 market in Australia for strong sales activity and rising prices.
It has also identified growth markets in the Melbourne metropolitan area.
The generalised data on prices - i.e. one growth figure for the entire nation or for a major city - has Melbourne house prices down, although how much they’ve fallen depends on whose figures you believe. 
One major data source has the Melbourne median house price rising slightly in 2018, while others say it fell 2% or 3%, the latest figure from the ABS says 6% and CoreLogic (which usually has the most negative figures) says Melbourne is down 11%.
These sources have one thing in common: they generalise about very large areas. They lump all of Greater Melbourne, which has 500 suburbs as diverse as Toorak and Epping, into one melting pot, with one figure to describe the whole market. 
But Melbourne has many different scenarios in play, including precincts where prices are still rising. Hotspotting’s suburb-by-suburb analysis shows many of the outer-ring areas still have price growth.
This is confirmed by new data on the suburbs of the Melton LGA in Melbourne’s west. Most Melton suburbs have had annual price growth above 13%.
Melton’s median sits at $410,000 (up 14.5%) while Melton South is $411,750 (up 15.7%), Kurunjang $432,000 (up 19.5%) and Melton West $450,000 (up 13.9%).
The figures confirm that investors who are able to ignore media generalisations and do some real research will have little trouble finding strong markets where prices are growing.
Terry Ryder is the founder of hotspotting.com.au
<a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a>
twitter.com/hotspotting
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The property markets that are thriving in Victoria: Hotspotting's Terry Ryder

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EXPERT OBSERVER
Regional Victoria continues to be a national leader of price performance. No other market jurisdiction in Australia has such a high percentage of locations delivering price growth.
In the past 12 months, 92% of towns and suburbs across Regional Victoria have had growth in their median house prices. Most have increased by more than 5% and many have had double-digit growth.
It’s all part of the Exodus to Affordable Lifestyle, a trend which (contrary to many media reports) did not arise out of the pandemic – it was well under way before 2020 and has been turbo-charged by the lockdown periods.
It’s a trend that first became evident with the rise of markets close to Melbourne three or so years ago, and continues to be a major force in Regional Victoria.
The standouts are Ballarat, Bendigo and Geelong, but there are growth markets spread right across the state – from Portland, Warrnambool and Mildura in the west and north-west, to Wodonga in the north and the towns of East Gippsland and the Latrobe Valley in the east.
Most of the suburbs of Ballarat (pictured top), have had double-digit annual growth in their median house prices, including Redan (15%), Alfredton (11%), Ballarat Central (13%), Brown Hill (10%), Canadian (12%), Sebastopol (15%) and Mt Clear (10%).
Bendigo is a little further back in the cycle than Ballarat, but is now delivering growth at comparable levels, led by Strathdale (17%), California Gully (15%) and Eaglehawk (13%).
White Hills, Strathfieldsaye and East Bendigo have all grown 10-11%, while numerous other suburbs have had 8-9% increases over 12 months, including Flora Hill, Kangaroo Flat, North Bendigo, Long Gully and Epsom.
The City of Greater Geelong was the first the regional cities to get on the growth path and has now had 3-4 years of rising prices. But many suburbs are still delivering good uplift in their median prices, led by Drysdale (10%), East Geelong (13%) and Newtown (10%).
Elsewhere, the Strathbogie LGA is a standout, with both Euroa (up 17%) and Nagambie (up 20%) showing exceptional growth.
In the far west of the state, Portland continues to rise, with its median house price up 15%. Warrnambool is another western centre with good growth, up 10% over 12 months.
In other parts of the state, Myrtleford (13%), West Wodonga (10%), Swan Hill (10%), Maddingley (11%), and Beechworth (10%) have all done well.
Overall, Regional Victoria is one of many market jurisdictions which rubbish the general line in mainstream media that house prices in Australia are now recovering after a Covid downturn. In most locations across Australia, notably including Regional Victoria, there never was a downturn.
What we’ve seen, and continue to see, is something approaching a boom.
TERRY RYDER is the founder of hotspotting.com.au <a href="https://mailto:ryder@hotspotting.com.au">ryder@hotspotting.com.au</a> twitter.com/hotspotting
 
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