<p data-end="587" data-start="368">Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.</p>

<p data-end="778" data-start="589">The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.</p>

<p data-end="907" data-start="780"><a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.</p>

<p data-end="1052" data-start="909">The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.</p>

<p data-end="1311" data-start="1054">The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.</p>

<p data-end="1451" data-start="1313">The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.</p>

<p data-end="1676" data-start="1453">MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.</p>

<p data-end="1908" data-start="1678">Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.</p>

<p data-end="2142" data-start="1910">The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.</p>

<p data-end="2142" data-start="1910"><img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" /></p>

<p data-end="2308" data-start="2144">MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.</p>

<p data-end="2648" data-start="2310">"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.</p>

<p data-end="2797" data-start="2650">"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."</p>

<p data-end="2938" data-start="2799">The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.</p>

<p data-end="3216" data-start="2940">Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.</p>

<p data-end="3325" data-start="3218">Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.</p>

<p data-end="3442" data-start="3327">"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.</p>

<p data-end="3662" data-start="3444">"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."</p>

<p data-end="3818" data-start="3664">MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.</p>

<p data-end="4076" data-start="3820">"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.</p>

<p data-end="4375" data-start="4078">"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."</p>

<p data-end="4503" data-start="4377">Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.</p>

<p data-end="4741" data-start="4505">"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."</p>

<p data-end="4910" data-start="4743">The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.</p>

<p data-end="4951" data-start="4912">MAYD is targeting an early 2027 launch.</p>


Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

<main data-perf-region="main">
<p data-end="600" data-start="394">Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.</p>

<p data-end="733" data-start="602">But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.</p>

<p data-end="970" data-start="735">Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.</p>

<p data-end="970" data-start="735">[smartcode_project:default project_id=152737 project_image_fid=377679]</p>

<p data-end="1159" data-start="972">The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.</p>

<p data-end="1357" data-start="1161">It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.</p>

<p data-end="3400" data-start="3216">[smartcode_project:default project_id=152737 project_image_fid=377675]</p>

<p data-end="3400" data-start="3216">Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.</p>

<p data-end="1664" data-start="1517">Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.</p>

<p data-end="1826" data-start="1666">Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.</p>

<p data-end="1826" data-start="1666">[smartcode_project:default project_id=152737 project_image_fid=377685]</p>

<p data-end="2045" data-start="1828">Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.</p>

<p data-end="2269" data-start="2047">"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.</p>

<p data-end="2430" data-start="2271">A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.</p>

<p data-end="2606" data-start="2432">It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.</p>

<p data-end="2724" data-start="2608">At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.</p>

<p data-end="2892" data-start="2726">Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.</p>

<p data-end="2892" data-start="2726">[smartcode_project:default project_id=152737 project_image_fid=377680]</p>

<p data-end="3004" data-start="2894">Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.</p>

<p data-end="3214" data-start="3006">"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.</p>

<p data-end="3400" data-start="3216">The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.</p>

<p data-end="3400" data-start="3216">More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.</p>

<p data-end="3670" data-start="3538">&nbsp;</p>

<p data-end="3670" data-start="3538">[smartcode_project_cta:default project_id=152737]</p>

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>


Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

<p>A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.</p>

<p>Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.</p>

<p>Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374005]</p>

<p>The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.</p>

<p>Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.</p>

<p>Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374010]</p>

<p>Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.</p>

<p>The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.</p>

<p>“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374002]</p>

<p>“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”</p>

<p>The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.</p>

<p>[smartcode_project_cta:default project_id=150999]</p>


Maréa Residences brings parkside apartments to Coolangatta

<p data-end="535" data-start="324">Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.</p>

<p data-end="717" data-start="537">The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.</p>

<p data-end="918" data-start="719">The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.</p>

<p data-end="1131" data-start="920">PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.</p>

<p data-end="1131" data-start="920"><img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" /></p>

<p data-end="1318" data-start="1133">Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.</p>

<p data-end="1433" data-start="1320">The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.</p>

<p data-end="1658" data-start="1591">A significant component of The One will be its residential amenity.</p>

<p data-end="1864" data-start="1660">More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.</p>

<p data-end="2011" data-start="1866">The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.</p>

<p data-end="2011" data-start="1866"><img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" /></p>

<p data-end="2191" data-start="2013">The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.</p>

<p data-end="2365" data-start="2193">PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.</p>

<p data-end="2473" data-start="2367">“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.</p>

<p data-end="2775" data-start="2475">“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”</p>

<p data-end="2943" data-start="2777">The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.</p>

<p data-end="3145" data-start="3001">PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.</p>


PDG secures approval for $1.5bn Southbank apartment development, The One

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p>&nbsp;</p>

<p>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.</p>

<p>Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.</p>

<p>While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;</p>

<p>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>.</p>


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

Sydney

<html><body>
<div>Frasers Property is auctioning a four-bedroom family home at its master-planned Putney Hill neighbourhood.</div>
<div> </div>
<div>76 Lardelli Drive, a freestanding home designed by Cox Richardson, sits at one end of the picturesque Lardelli Park. </div>
<div> </div>
<div>Styled by Coco Republic, the trophy residence will be auctioned by Vic Lorusso on June 13 with a $1.85 million plus price guidance.</div>
<div> </div>
<div>Frasers Property Sales marketing director Paul Lowe said the decision was taken to sell by auction gave all an equal chance of buying this newly completed house which served as the display suite.</div>
<div> </div>
<div>To date all opportunity to buy from the developer in the <a href="https://putneyhill.com.au" target="_blank">Putney Hill precinct</a> have been initially offered via off the plan private treaty. </div>
<div> </div>
<div>Putney Hill is a 13.9-hectare master-planned community on the border of Putney and Ryde, 13 kilometres from the Sydney CBD.</div>
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jchancellor-FAypfDUnLy

Cox Richardson-designed Putney Hill family home for auction

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<p>Royalla, the glamorous Robertson farm stay, has been listed for sale. </p>
<p>It is a 47 hectare cattle farm that grosses up to $80,000 a year from its visitors. </p>
<p>Derek Leddie, former CEO of The Leading Edge market research firm and co-founder of athlete training outfit Out Of Your Mind, and his wife Nicole Lenord have owned Royalla for 10 years.</p>
<p>It's not the Pearsons Lane pastures that are extraordinary rather the 200 species of plant life with some of the trees 100 plus years old. </p>
<p>Royalla hosted 70 wedding ceremonies last year with 26 already confirmed for 2015, with the property accommodating up to 16 people across three recently renovated dwellings. </p>
<p>David Nolan of Webster Nolan Real Estate, Cameron McKillop of McKillop Property and Ian Rayner Real Estate <a href="https://www.realestate.com.au/property-other-nsw-robertson-7603767" target="_blank">are giving $3.3 million price guidance</a>.</p>
<p>Leddie spent $2.8 million to buy the neglected retreat which comes with extensive dry-stone walls, large trees, paddocks, a creek and a dam.</p>
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Royalla, the highlife Southern Highlands farmstay, listed 

<html><body>
<p>Chateau de Benelong, the distinctive Bellevue Hill palazzo residence, has sold for close to $6 million.</p>
<p>It didn't sell when auctioned in 2014 having<span> a $7 million plus price indication.</span></p>
<p><span>It had revised $6 million hopes this time, although initially listed last month with renewed $7 million hopes.</span></p>
<p><span>Chateau de Benelong, the private palazzo commands sweeping northerly harbour views from its grand columned terraces.</span></p>
<p>The seven bedroom house has stood out from the crowd since 1977 when it was built by designer Lesley Santy.</p>
<p>It last sold at early 2012 auction at $4,995,000.</p>
<p>The 12 Benelong Crescent property had been renovated after trading for $3.67 million in 2009.</p>
<p>The Hunteleys Point-bound vendors Lynda Giang-Nguyen and Nhi Nguyen bought it in early 2012 from Nare Elio and Makedonka Del Ben.</p>
<p><a href="https://www.biller.com.au/2081136/" target="_blank">Listed with Paul Biller of Biller Property</a> secured the 12 Benelong Crescent, Belleuve Hill sale.</p>
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Bellevue Hill's Chateau de Benelong sold

<html><body>
<p>60 Winbourne Street is an unassuming West Ryde 1960s three bedroom brick home.</p>
<p>However its sale price rocketed from $940,000 to $1.71 million, between February 2014 and earlier this month.</p>
<p>Little wonder its re-sale has become something of local folklore in the past week after 2GB's Ross Greenwood's came across the stellar price hike.</p>
<p>It is a 961 square metre corner block at <a href="https://www.realestate.com.au/property-house-nsw-west+ryde-119573743" target="_blank">60 Winborne Street</a>, with b<span style="line-height: 1.3em;">uses at the door with easy access to Eastwood and West Ryde stations, TAFE Colleges, Macquarie University and major shopping centres.</span><span style="line-height: 1.3em;"> </span></p>
<p><span style="line-height: 1.3em;">Property Observer gathers the windfall came from changes in likely more liberal council consideration of the splayed corner site calculation, rather than all because of the property boom.</span></p>
<p><span style="line-height: 1.3em;">A local developer buyer beat off keen competition with an Asian bidder the underbidder when agent Max Pracey threw the .  </span></p>
<p><a href="https://www.realestate.com.au/photogallery_new.ds;jsessionid=6E5B377CDBD0A5ABCDFC4ABE24CB8856?id=119573743&amp;theme=rea.sold" rel="photos" data-id="119573743"><img src="https://i1.au.reastatic.net/456x342/79c3f86b28ab8287a3dd7d4d796c471df6d185fddb224f093b6ef74647e640e0/main.jpg" alt="60 Winbourne Street, West Ryde" title="60 Winbourne Street, West Ryde" data-index="0"></a></p>
<p>It was marketed by Max Pracy at Tracy Yap Realty as suitable to "e<span>xplore the possibilities of development."</span></p>
<p><span>Max Pracey suggested the block, subject to council approval could possibly hold a duplex or even v</span><span>illas. CoreLogic RP Data suggests the site dimensions of the irregular shaped block are <span>18.29/27.97 X IRR/41.68.</span></span></p>
<p><span><img src="/images/2015/05/25/site_plan.jpg" alt=""></span></p>
<p><span>"Explore the options, make your decision and develop and profit!!," the marketing suggested.</span></p>
<p><span>"Rarely does a property like this become available," it added.</span></p>
<p><span>Held for 1.25 years, during that time, its value has changed at an annual rate of 60%.</span></p>
<p><span>It seems the windfall was all </span>about the City of Ryde development control plan 2014 multi dwelling housing for low density residential zone.</p>
<p>The control plan generally affirms allotments should have a frontage to the road of not less than 20 metres and an area of not less than 900 square metres.</p>
<p><span> </span></p>
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Price for West Ryde 1960s three bedder with potential skyrockets

<html><body>
<p>A three bedroom townhouse was Sydney's cheapest sale at weekend auctions.</p>
<p><span style="line-height: 1.3em;">It sold through Richardson &amp; Wrench Campbelltown agents Russell Wyer and Michelle Balabka for $310,000 to an investor.</span></p>
<p><span style="line-height: 1.3em;">The three bedroom</span><span style="line-height: 1.3em;"> 1970s townhouse is in need of refurbishment.</span></p>
<p><span style="line-height: 1.3em;">There is s</span><span style="line-height: 1.3em;">ingle undercover car accommodation and f</span><span style="line-height: 1.3em;">ront and rear courtyards.</span></p>
<div id="description" class="stackItem">
<p class="body">It was marketed as suiting builders/renovators looking for a project at <a href="https://www.realestate.com.au/property-townhouse-nsw-campbelltown-119647355" target="_blank">13/107 Broughton Street</a>.</p>
<p class="body">It last sold in 2010 at $195,000, so reflected 10% annual growth.</p>
<p class="body">The agents told Property Observer they <span>recently rented a renovated three bedroom townhouse in the same complex for $355 per week.</span> </p>
</div>
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Campbelltown $310,000 townhouse the weekend's cheapest auction sale

<html><body><p>Australian Property Monitors (APM) has released a list of auction results in Sydney for the weekend of May 23. <a href="https://www.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank" rel="nofollow">Click here</a> for the auction results, and click on each street address to see the property's marketing.</p></body></html>

po-LsXgBTHBmX

APM's Sydney auction results for May 23 weekend

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<div class="default">
<span style="line-height: 1.3em;">It was top-down success as apartments went on sale </span>today<span style="line-height: 1.3em;"> at Crown Ashfield's $88 million resort-style development.</span>
</div>
<div class="default"><span style="line-height: 1.3em;"> </span></div>
<div class="default"><span style="line-height: 1.3em;">Sold stickers in the early sales were very dominant among the pricier apartments on offer.</span></div>
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<div class="default"><img src="/images/2015/05/26/crown.jpg" alt=""></div>
<div class="default"><span style="line-height: 1.3em;"> </span></div>
<div class="default">
<span style="line-height: 1.3em;">Located nine kilometres from the Sydney CBD, six kilometres from the University of Sydney, 10 kilometres from the airport, 300 meters from Ashfield Mall and 750 metres from the railway station Ashfield, </span><span style="line-height: 1.3em;">sales were underway at same-day launch events in Sydney, Indonesia and Singapore.</span>
</div>
<div class="default"><span style="line-height: 1.3em;"> </span></div>
<div class="default"><span style="line-height: 1.3em;"><span>Crown Group chief executive Iwan Sunito tweeted his delight at the early morning buyer queues as it represents an important milestone for Crown Group as its brand continues to gain momentum around the world.</span></span></div>
<div class="default">
<p><img src="/images/2015/04/22/Crown%20Ashfield%20Interior%20%20-%20Dark.jpg" alt=""><br> </p>
<p><span>Crown Group chief executive Iwan Sunito said Crown Ashfield will feature a forest interior concept along with the development’s internal atrium.</span></p>
<p><span>"The common areas will be bathed in natural light, lush greenery and first-class residents’ amenities," Sunito said.</span></p>
<p><span>The starting price mark was around $700,000 for a one bedroom apartment.</span></p>
<p><span>Crown Ashfield was designed by Surry Hills architects Turner featuring natural, organic elements throughout including an internal atrium, abundant natural light, a flowing sculpted water feature and lush greenery at 168 Liverpool Road.</span></p>
<p><span>The sold stickers were being quickly posted for the apartments in the modern nine-storey development comprising 79 boutique apartments, four exclusive retail spaces, resident and visitors’ car parking, grand lobby lounge, theatrette, piano room and rooftop communal facilities including a terrace and a recreational area with city views. </span><span style="line-height: 1.3em;"> </span></p>
<p><span>Crown Group achieved an impressive $173 million in sales within four hours at the launch of Sydney by Crown in November last year for its Clarence Street project.</span></p>
<p><span style="line-height: 1.3em;">Closer to town, strong sale were also achieved as 581 apartments (below) were offered at the Lend Lease launch of the Darling Square project.</span></p>
<p><span>The two penthouses sold at more than $10 million each.</span></p>
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<img src="https://images-2.domain.com.au/2015/04/19/6455642/Darling-Square-Cover-image_1024-620x414.jpg" alt="Artist's impressions of the second stage of Darling Square, Darling Harbour" width="619" height="414"><a class="more-photos size-lrg" href="https://news.domain.com.au/photogallery/domain/darling-square-darling-harbour-20150419-3ud7f?aggregate=&amp;selectedImage=0"><span class="size-lrg">C</span></a>
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Crown Ashfield secures top down sales success at its tree-house inspired Liverpool Road offering

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<p>The Sydney weekend auction market weakened a tad on Saturday from its record-breaking run of the past few months.</p>
<p>There was a preliminary 84.2% auction success rate today, the second last week of the Autumn selling season.</p>
<p><span style="line-height: 1.3em;">The peak was the all-time record clearance rate of 89.2% on May 9. It eased to a preliminary 84.4% result last weekend, May 16.</span></p>
<p><span style="line-height: 1.3em;">But the May 16 result was revised down to 81%, suggesting it won't be long before heading back into the still strong 70s.</span></p>
<p><span style="line-height: 1.3em;"><span>Dr Andrew Wilson, senior economist for the Domain Group, noted the 84.2% preliminary result today was "<span>strong but again below record levels of past month</span>."</span></span></p>
<p><span><span style="line-height: 1.3em;">Despite the slight overall weakening, auctioneers </span>reported<span style="line-height: 1.3em;"> suburbs of intensity.</span></span></p>
<p><span style="line-height: 1.3em;"><span><span>"Property market has been red hot today," auctioneer Damien Cooley tweeted. His brother Andrew tweeted the #South#market is flying today! Everything selling <span>#</span>overreserve - buyers everywhere!!</span></span></span></p>
<p>This weekend Sydney was scheduled to host over 750 auctions, well ahead of the 556 auctioned last weekend but below the 809 auctioned over the same weekend last year.</p>
<p>CoreLogic RP Data reported t<span style="line-height: 1.3em;">he overall clearance rate over the entire week increased in Sydney to 86.9 per cent, based on </span><span style="line-height: 1.3em;">preliminary results to May 24, signifying that Sydney’s clearance rate of 85.0 per cent last </span><span style="line-height: 1.3em;">week was a "brief dip," after the four previous weeks where Sydney’s clearance </span><span style="line-height: 1.3em;">rate was recorded above the 87 per cent mark. </span></p>
<div>
<span style="line-height: 1.3em;">The CoreLogic results were based on 770 Sydney </span><span style="line-height: 1.3em;">auction results reported so far this week, with 950 homes taken to auction. </span>
</div>
<div> </div>
<div>"Volumes are higher than last week, when 885 residential auctions were held, <span>and lower than last year, when there were 1,115 auctions," CoreLogic RP Data advised.</span>
</div>
<div><span> </span></div>
<div>
<span>"One year ago, </span><span>Sydney’s auction clearance rate was 73.1 per cent, more than 10 percentage </span><span>points lower than the current level." </span>
</div>
<div><span> </span></div>
<div>
<span>Across Sydney’s individual sub-regions, the i</span><span>nner west region recorded the strongest result with a preliminary clearance </span><span>rate of 94.7 per cent across 76 results. </span>
</div>
<div> </div>
<table style="width: 605px;" border="0" cellspacing="0" cellpadding="5"><tbody>
<tr>
<td colspan="2">
<p>Most expensive</p>
</td>
<td colspan="2"> </td>
</tr>
<tr id="rpMostExpensive_trMostExpensiveRow_0">
<td id="rpMostExpensive_tdMostExpensiveCity_0" align="left">Sydney</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_0" colspan="2">9 King Av, Balgowlah NSW 2093, 5 br House, Max Walls International</td>
<td id="rpMostExpensive_tdMostExpensiveSold_0">$6,000,000</td>
</tr>
<tr id="rpMostExpensive_trMostExpensiveRow_1">
<td id="rpMostExpensive_tdMostExpensiveCity_1" align="left">Melbourne</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_1" colspan="2">46 Canberra Gr, Brighton East VIC 3187, 4 br House, Hocking Stuart Brighton</td>
<td id="rpMostExpensive_tdMostExpensiveSold_1">$4,010,000</td>
</tr>
<tr id="rpMostExpensive_trMostExpensiveRow_2">
<td id="rpMostExpensive_tdMostExpensiveCity_2" align="left">Adelaide</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_2" colspan="2">41 Grandview Gr, Toorak Gardens SA 5065, 5 br House, Klemich Real Estate Henley Beach</td>
<td id="rpMostExpensive_tdMostExpensiveSold_2">$1,320,000</td>
</tr>
<tr id="rpMostExpensive_trMostExpensiveRow_3">
<td id="rpMostExpensive_tdMostExpensiveCity_3" align="left">Brisbane</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_3" colspan="2">15 Abercrombie St, Newstead QLD 4006, 3 br House, RW - New Farm</td>
<td id="rpMostExpensive_tdMostExpensiveSold_3">$2,675,000</td>
</tr>
<tr id="rpMostExpensive_trMostExpensiveRow_4">
<td id="rpMostExpensive_tdMostExpensiveCity_4" align="left">Canberra</td>
<td id="rpMostExpensive_tdMostExpensiveLocation_4" colspan="2">57 MacAlister Cr, Curtin ACT 2605, 5 br House, Peter Blackshaw Real Estate Woden &amp;</td>
<td id="rpMostExpensive_tdMostExpensiveSold_4">$1,342,500</td>
</tr>
<tr>
<td colspan="2">
<p>Most affordable</p>
</td>
<td colspan="2"> </td>
</tr>
<tr id="rpMostAffordable_trMostAffordableRow_0">
<td id="rpMostAffordable_tdMostAffordableCity_0" align="left">Sydney</td>
<td id="rpMostAffordable_tdMostAffordableLocation_0" colspan="2">13/107 Broughton St, Campbelltown NSW 2560, 3 br Townhouse, R&amp;W Campbelltown</td>
<td id="rpMostAffordable_tdMostAffordableSold_0">$310,000</td>
</tr>
<tr id="rpMostAffordable_trMostAffordableRow_1">
<td id="rpMostAffordable_tdMostAffordableCity_1" align="left">Melbourne</td>
<td id="rpMostAffordable_tdMostAffordableLocation_1" colspan="2">3/117 Anderson Rd, Albion VIC 3020, 1 br Unit, Douglas Kay Sunshine</td>
<td id="rpMostAffordable_tdMostAffordableSold_1">$146,500</td>
</tr>
<tr id="rpMostAffordable_trMostAffordableRow_2">
<td id="rpMostAffordable_tdMostAffordableCity_2" align="left">Adelaide</td>
<td id="rpMostAffordable_tdMostAffordableLocation_2" colspan="2">144 Wills St, Peterhead SA 5016, 2 br House, LJH West Lakes</td>
<td id="rpMostAffordable_tdMostAffordableSold_2">$250,000</td>
</tr>
<tr id="rpMostAffordable_trMostAffordableRow_3">
<td id="rpMostAffordable_tdMostAffordableCity_3" align="left">Brisbane</td>
<td id="rpMostAffordable_tdMostAffordableLocation_3" colspan="2">15 Woodburn St, Marsden QLD 4132, 3 br House, PRD Marsden</td>
<td id="rpMostAffordable_tdMostAffordableSold_3">$275,500</td>
</tr>
<tr id="rpMostAffordable_trMostAffordableRow_4">
<td id="rpMostAffordable_tdMostAffordableCity_4" align="left">Canberra</td>
<td id="rpMostAffordable_tdMostAffordableLocation_4" colspan="2">99 Florey Dr, MacGregor ACT 2615, 3 br House, LJH Belconnen</td>
<td id="rpMostAffordable_tdMostAffordableSold_4">$385,000</td>
</tr>
</tbody></table>
<p>Source APM</p>
<p>Sydney’s south hosted the most number of auctions with 121 listing.</p>
<p>The upper north shore followed with 106, the inner west 100, the city and east 79, the lower north 66, south west 60, the north west 54, the west 53, the northern beaches 47, Canterbury Bankstown 39, central coast 18 and the Blue Mountains with 1 auction scheduled this weekend.</p>
<p>Randwick and Mosman were the most popular suburbs for auctions with 11 auctions each including<span> 6 Dick Street, Randwick where Damien Cooley secured a $3.55 million sale through BHR Bickmore-Hutt Realty, </span><span>a trophy family home for sale for the first time in 39 years. The three-bedroom house at 6 Dick Street had a reserve price of $3.25 million and five registered bidders. </span>Cooley Auctions also secured the sale of <span style="line-height: 1.3em;">8 Coogee Street, Randwick at $1.85 million and 72 Canberra Street, Randwick at $1.69 </span>million.</p>
<p><span style="line-height: 1.3em;">Strathfield </span>foliowed <span style="line-height: 1.3em;">with 10, including 25 Arthur Street (below) which fetched $1,783,000.</span></p>
<p class="TweetTextSize TweetTextSize--28px js-tweet-text tweet-text" lang="en" data-aria-label-part="4">It sold with 11 registrations, auctioneer <span style="line-height: 1.3em;">Ricky Briggs advised.</span></p>
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<span style="line-height: 1.3em;">Surry Hills, Eastwood and Baulkham Hills had nine each.</span><span style="line-height: 1.3em;"> </span>
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<div class="QuoteTweet-authorAndText u-alignTop"><span style="line-height: 1.3em;"> </span></div>
<div class="QuoteTweet-authorAndText u-alignTop"><span style="line-height: 1.3em;">A narrow 1870s Surry Hills terrace fetched $965,000 at auction this afternoon, with its price reflecting recent 20% boomtime price growth.</span></div>
<div class="QuoteTweet-authorAndText u-alignTop">
<p>It was a <a href="https://www.spencerservi.com.au/index.cfm?page=for_sale.property&amp;id=3588&amp;utm_content=bufferf1321&amp;utm_medium=social&amp;utm_source=linkedin.com&amp;utm_campaign=buffer" target="_blank">2.85 metre wide terrace on Terry Street, Surry Hills</a>.</p>
<p>It has been billed as possibly Sydney's skinniest terrace, located near Central Station between Foveaux Street and Kippax Street.</p>
<p>The Spencer &amp; Servi sale was of a two bedroom, one bathroom, two storey terrace on a 38 square metre block.</p>
<p>The weekend auctions resulted in a $1,273,000 median house price sale, which was reflected in a sale by Auctions Services auctioneer Rob Trovato at <span>10 Blackburn Street, North Rocks which fetched $1.271 million through (below) NNW Property.</span></p>
<p><span><img src="https://i1.au.reastatic.net/456x342/c29e97d6c5b6ccc9be4b27cb6bfac37060aca08031692614c9058f3ab1e6902d/main.jpg" alt="10 Blackburn Avenue, North Rocks" title="10 Blackburn Avenue, North Rocks" data-index="0"></span></p>
<p><span style="line-height: 1.3em;">NNW Property</span><span style="line-height: 1.3em;"> has</span><span style="line-height: 1.3em;"> had 10 Hermington Street, Epping sell at $1.1 million, some $70,000 over reserve with 17 registered bidders, 11 of whom took part.</span></p>
<p>Some 60 plus bids were recorded by Rocky Ba<span><span>rtolotto</span><span>, a</span>uctioneer at Auction Services.</span></p>
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Still in the 80s, but Sydney auction success rate in decline as winter approaches

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<p>A narrow 1870s Sydney terrace fetched $965,000 at auction this afternoon, with its price reflecting recent 20% boomtime price growth.</p>
<p>It was a <a href="https://www.spencerservi.com.au/index.cfm?page=for_sale.property&amp;id=3588&amp;utm_content=bufferf1321&amp;utm_medium=social&amp;utm_source=linkedin.com&amp;utm_campaign=buffer" target="_blank">2.85 metre wide terrace on Terry Street, Surry Hills</a>. <span>The winning bidder was the buyer's agent Raymond Hung bidding on behalf of his client in China.</span></p>
<p>It has been billed as possibly Sydney's skinniest terrace, l<span>ocated near Central Station between Foveaux Street and Kippax Street</span>.</p>
<p>The Spencer &amp; Servi sale was of a two bedroom, one bathroom, two storey terrace on a 38 square metre block.</p>
<p><span>First National Spencer &amp; Servi’s selling agent Annie Hodgson, who had issued more than six contracts, was quoting $750,000 plus.</span></p>
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<p>It had 48 square metre space.</p>
<p><span>The property was last sold in March 1981 for $54,000, reflecting 8.75% annual growth over the 34 years.</span></p>
<p><span>A renovated 38 square metre terrace three doors away sold at $633,000 in May two years ago, so the annual price growth sits at around 22% over the past two years.</span></p>
<p><span><img src="https://images-2.domain.com.au/2015/05/20/6546581/Article%20Lead%20-%20narrow996273431gh5liyimage.related.articleLeadNarrow.353x0.gh5lhz.png1432103860898.jpg-300x0.jpg" alt="29 Terry Street, Surry Hills."></span></p>
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Narrow Surry Hills terrace fetches $965,000

<html><body>
<div>People seem to love the idea of "macro-prudential" measures. </div>
<div> </div>
<div>It all sounds new and rather exciting, but in truth the term simply refers to financial regulation and approaches to managing systemic risks.<br><br>
</div>
<div>In respect of the housing market, the more popular ideas tend to include caps on loan-to-value ratios or restrictions on the level of debt that can be taken on by a borrower expressed as a multiple of income.</div>
<div> </div>
<div>The Reserve Bank of New Zealand (RBNZ) has taken the approach of limiting lending to investors in Auckland, while investor loans will attract additional capital charges.</div>
<div> </div>
<div>While such a targeted approach has seemed unlikely to date in Australia, lenders do already use similar methods to weed out high-risk loans, for example through restrictions on lending in mining towns, or on certain property types which are perceived to be of higher risk.</div>
<div> </div>
<div>The Reserve Bank of Australia (RBA) has announced on multiple occasions that it is working with APRA in order to monitor lending standards, with APRA already having indicated an advisory 10 per cent cap on the growth of investment mortgage lending books.</div>
<div> </div>
<div>Some banks are now insisting on 20 per cent deposits for investment loans. Others are tweaking borrowing rates, and others still have banned mortgage lending against property investments in self-managed superannuation funds (SMSFs).</div>
<div> </div>
<div>Eventually these measures will begin to take hold of Australia's property markets, even if through perception alone. </div>
<div> </div>
<div>Whether or not more robust measures are taken to target specifically the rampant Sydney market remains to be seen.</div>
<div> </div>
<div>Let's take a look in three parts at the termination of the last Sydney housing market boom in 2003/4 to see what we can learn.<br><br>
</div>
<p><strong><span style="text-decoration: underline;">1 - The "double tap"</span></strong><br><br></p>
<div>Just as has been the case lately in this cycle, APRA began to discuss privately and publicly its concerns with the Sydney housing market through 2003.</div>
<div> </div>
<div>The regulator also took additional steps to collect data on mortgage lenders in order to identify the outliers, and held discussions with boards in order to seek assurance that prudent lending standards were being maintained.</div>
<div> </div>
<div>This alone did not have the desired effect, and APRA consequently ramped up capital requirements and adjustments to mortgage insurance in order to moderate the market.</div>
<div> </div>
<div>Arguably, however, a bigger factor in snapping off the Sydney boom of just over a decade ago was the "double tap" on the brakes applied by the Reserve Bank, hiking rates from 4.75 per cent to 5.25 per cent through two rapid-fire tightening shots in November and December 2003.</div>
<p> </p>
<div class="separator"><a href="https://2.bp.blogspot.com/-pgA6kSfQOLQ/VV8GFNlad7I/AAAAAAAAVjo/EKsxZSpHm1s/s1600/jc1.jpg" target="_blank"><img src="https://2.bp.blogspot.com/-pgA6kSfQOLQ/VV8GFNlad7I/AAAAAAAAVjo/EKsxZSpHm1s/s640/jc1.jpg" width="640" height="274"></a></div>
<p><span style="line-height: 1.3em;">Click to enlarge all charts</span></p>
<p><span style="line-height: 1.3em;"> </span></p>
<p><span style="line-height: 1.3em;">Given that Sydney dwelling price growth was all but cooked within the next quarter, this was arguably the most important factor, with the standard variable mortgage rate (SVR) thereafter remaining above 7 per cent all the way through until the financial crisis.</span></p>
<div> </div>
<div>One troubling matter for the regulator this time around is that the odds of standard variable rates heading to 7 per cent again any time soon are nil, while new borrowers are able to fix borrowing rates at levels close to 4 per cent.</div>
<div> </div>
<div>Futures markets are pricing an inverted yield curve for the remainder of this calendar year, and no rate hikes are priced for 2016 either, with the cash rate expected to remain at historic lows for at least the next 18 months.</div>
<div> </div>
<div class="separator"><a href="https://2.bp.blogspot.com/-R30idufUauE/VV8GGE8h5KI/AAAAAAAAVj8/42KD_MqTwKk/s1600/jc2.jpg" target="_blank"><img src="https://2.bp.blogspot.com/-R30idufUauE/VV8GGE8h5KI/AAAAAAAAVj8/42KD_MqTwKk/s640/jc2.jpg" width="640" height="260"></a></div>
<p><br><span>Ergo, higher lending rates will not be the dampener.</span><br><br><strong><span style="text-decoration: underline;">Part 2 - Supply and underlying demand</span></strong><br><br></p>
<div>Another factor which will be different through this Sydney cycle is interstate migration.<br><br>In the year to September 2003, nearly 33,000 persons fled New South Wales for pastures new.<br><br>As you can see from my chart below, the mirror image movement in the line denoting Queensland in 2003 shows you that they were heading for a cheaper lifestyle in the Sunshine State.</div>
<div> </div>
<div class="separator"><a href="https://1.bp.blogspot.com/-PMeyYwjJH_E/VV8OQGujGAI/AAAAAAAAVk0/gDyBlT9ayf8/s1600/JC9.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-PMeyYwjJH_E/VV8OQGujGAI/AAAAAAAAVk0/gDyBlT9ayf8/s640/JC9.jpg" width="640" height="262"></a></div>
<p><br><span>However, interstate migration is not going to be a factor to slow the Sydney market in 2015.</span></p>
<p><span style="line-height: 1.3em;">In fact, interstate migration from New South Wales has fallen to its lowest level on record, and is set to decline yet further in the months ahead as Sydneysiders stay put for the superior employment prospects.</span></p>
<p><span style="line-height: 1.3em;">This is putting intense pressure on the Sydney property market, its rail, roads, public transport and infrastructure.</span></p>
<p><span style="line-height: 1.3em;">The below chart says it all. We are constructing far fewer houses than in decades gone by with the supply of shovel-ready land in Sydney falling to almost zero, but population growth in New South Wales has exploded higher.</span></p>
<div> </div>
<div class="separator"><a href="https://2.bp.blogspot.com/-LvQKaqLVW6Y/VV8GGBbmiUI/AAAAAAAAVkE/0NpsNRJCW3M/s1600/jc3.jpg" target="_blank"><img src="https://2.bp.blogspot.com/-LvQKaqLVW6Y/VV8GGBbmiUI/AAAAAAAAVkE/0NpsNRJCW3M/s640/jc3.jpg" width="640" height="268"></a></div>
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<div>My <a href="https://petewargent.blogspot.com.au/2015/05/construction-boom-to-break-all-manner" target="_blank">chart packs</a> have shown that rolling annual apartment approvals have ramped up to around 27,000 in Greater Sydney, which is a start, but is hardly going to be enough in itself to pull up the property boom.</div>
<div> </div>
<div>The Real Estate Institute of New South Wales (REINSW) figures showed that at the end of the 2003/4 property boom Sydney had a vacancy rate of 4.4 per cent, and 5.3 per cent on the outer.</div>
<div> </div>
<div>If a property market "in equilibrium" is said to have a vacancy rate of 3 per cent, then Sydney has got some building to do before we get back to that level, at least in the suburbs I visit, which are largely close to the city.</div>
<div> </div>
<div class="separator"><a href="https://4.bp.blogspot.com/-03guB3XyK8M/VV8GFR2giGI/AAAAAAAAVjs/d3qOL8mNbP4/s1600/JC5.jpg" target="_blank"><img src="https://4.bp.blogspot.com/-03guB3XyK8M/VV8GFR2giGI/AAAAAAAAVjs/d3qOL8mNbP4/s640/JC5.jpg" width="640" height="278"></a></div>
<p><span style="line-height: 1.3em;">A handful of urban precincts are starting to become "well supplied", particularly to the north of the famous coat-hanger, but as I've shown here previously, the new supply is predominantly of the high rise unit variety.</span></p>
<div class="separator"><a href="https://3.bp.blogspot.com/-ms2EMUJ1vDk/VV8GFL8VBTI/AAAAAAAAVjw/yzDxHUzND2U/s1600/JC6.jpg" target="_blank"><img src="https://3.bp.blogspot.com/-ms2EMUJ1vDk/VV8GFL8VBTI/AAAAAAAAVjw/yzDxHUzND2U/s640/JC6.jpg" width="640" height="272"></a></div>
<p><span style="line-height: 1.3em;">With population growth in New South Wales tracking at above 105,000 per annum, there is a huge and growing demand for property in the harbour city.</span></p>
<p><br><strong><span style="text-decoration: underline;">Part 3 - The pipeline</span></strong><br><br></p>
<div>One final point is that there is an enormous volume of pent-up buyers in the pipeline already, with record loan volumes written prior to the newly-announced lending measures.</div>
<div> </div>
<div>In March, there were $5.9 billion of investor loans written in NSW, the highest figure ever recorded in Australia.</div>
<div> </div>
<div class="separator"><a href="https://4.bp.blogspot.com/-0a3mBnK3X4g/VV8HM4KJ-sI/AAAAAAAAVkc/1JzdeXswOBg/s1600/JC7.jpg" target="_blank"><img src="https://4.bp.blogspot.com/-0a3mBnK3X4g/VV8HM4KJ-sI/AAAAAAAAVkc/1JzdeXswOBg/s640/JC7.jpg" width="640" height="270"></a></div>
<p><span style="line-height: 1.3em;">The clincher for mine, though, is that now this has become by no means an investor boom alone - owner-occupiers are piling into the market too, for fear of missing out.</span></p>
<div>Rolling annual lending to owner-occupiers in New South Wales has leapt to its highest ever level at more than $70 billion...and rising fast.</div>
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<div class="separator"><a href="https://1.bp.blogspot.com/-I3Ldgsooyyw/VV8HM55JMPI/AAAAAAAAVkg/kpA8FUgbqCA/s1600/JC8.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-I3Ldgsooyyw/VV8HM55JMPI/AAAAAAAAVkg/kpA8FUgbqCA/s640/JC8.jpg" width="640" height="276"></a></div>
<p><span style="line-height: 1.3em;">I note that some commentators have called "fading demand" in Sydney based on transaction volumes. I can see why you might think that if you haven't actually been here lately, or attended any viewings, or auctions, but this is to be wrong-footed by the data.</span></p>
<p><span style="line-height: 1.3em;">The principal reason for the diminished number of transactions is that vendors have held back in anticipation of higher prices.</span></p>
<p><span style="line-height: 1.3em;">The level of stock on market in Sydney is almost unthinkably low at the present time, and until this changes the number of buyers will continue to massively outweigh available stock, and prices will continue to rise, confounding the critics.</span></p>
<p><br><a href="https://1.bp.blogspot.com/-wkeCVDQ5tRI/VV8GGJdUvMI/AAAAAAAAVkA/34hWNZwdNWI/s1600/jc4.jpg" target="_blank"><img src="https://1.bp.blogspot.com/-wkeCVDQ5tRI/VV8GGJdUvMI/AAAAAAAAVkA/34hWNZwdNWI/s640/jc4.jpg" width="640" height="276"></a><br><br></p>
<div>If you stop to do the numbers, you will see what I mean. In March 2015 $12.5 billion of mortgage finance was written in the state (as compared to less than $7.5 billion in March 2013). And there is hardly anything listed for sale; at least not for very long.</div>
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<div>And this is before we begin to account for the impact of foreign capital, which every single auction I have attended this year leads me to believe is material, if not game-changing.</div>
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<div>I have no doubt that macro-prudential measures will serve to slow the market eventually - and there may be many more tools deployed that we have not been made aware of - but not before Sydney's median house price has been pushed up towards $1 million and investors have bid gross apartment yields all the way down into the mid 3 per cent range.</div>
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<em style="line-height: 1.3em;"><strong>PETE WARGENT</strong> is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br><p><em>His book '<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>' is out now.</em></p>
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