<a href="https://www.apartments.com.au/architects/bates-smart">Bates Smart</a> is one of Melbourne's longest standing architecture firms.

Founded in Melbourne in 1853 by Joseph Reed, the firm began as Reed &amp; Barnes and has evolved through various partnerships before adopting the Bates Smart name in the 20th century. With a continuous presence spanning more than 170 years, the practice has played a pivotal role in shaping Melbourne’s architectural identity.

In the 19th century, Bates Smart designed several of Melbourne’s enduring landmarks, including the Royal Exhibition Building (1880), a UNESCO World Heritage site, and the Melbourne Town Hall. The firm’s influence continued into the 20th century with notable works such as Ici House (1958), considered Melbourne’s first modern skyscraper and a milestone in post-war Australian architecture.

One of their landmark designs was&nbsp;The First Church of Christ, Scientist, at 336-340 St Kilda Road. The building, which is listed on the Victorian Heritage Register, was designed by Bates, Peeble and Smart with construction completed in 1922. Architecturally, the building is significant as a rare example of early twentieth century classicism applied to a religious building. Historically, the building is significant as the first church of the Christian Science movement.

Melbourne developer Time &amp; Place decided to bring Bates Smart back to the area to design their next residential apartment project, Park Modern.

[smartcode_project:default project_id=138453 project_image_fid=2138]

<a href="https://www.urban.com.au/new-apartments/park-modern-south-melbourne-1-middleton-lane-south-melbourne-vic-3205">Park Modern</a>, on one of the largest island sites on the Melbourne CBD fringe, bordered by Dorcas Street, Wells Street, and Middleton Lane, will comprise two sculptural towers. It is being positioned as a design-forward response to evolving owner-occupier preferences in the Domain precinct.

Tim Price, Director at <a href="https://www.apartments.com.au/developers/time-place">Time &amp; Place</a>, says&nbsp;Bates Smart have got a footprint on this city, probably like no other architect.

"It’s a really nice kind of next chapter story, that they created from a design perspective so long ago," Price told Apartments.com.au.

Park Modern will be the third time Time &amp; Place has worked with Bates Smart, having successfully designed and delivered Collins House and Opera on St Kilda Road together.

The brief focused on creating a built form that would feel contextually appropriate while offering a contemporary evolution of inner-city apartment living.

[smartcode_project:default project_id=138453 project_image_fid=2137]

The focus for Park Modern is squarely on owner-occupiers.

“It’s not always about downsizing," Price says.

"Sometimes it’s just about creating a space which is easily maintained, lock up and leave, reflecting people’s aspirations, whether they’re entertainers, big dining room spaces, big open terraces, they’re important parts of any design consideration.”

The building includes a mix of one, two and three-bedroom apartments, as well as penthouses, with layouts and floor plans designed to suit a broad demographic. The architecture has been shaped to capture&nbsp;view corridors to the Botanic Gardens, Port Phillip Bay and the CBD skyline.

Each apartment has been oriented to maximise natural light and provide a clear outlook, elements often cited by owner-occupiers as key criteria.

[smartcode_project:default project_id=138453 project_image_fid=351806]

Rather than defaulting to a generic luxury offering, the amenity strategy at Park Modern reflects specific insights into how residents want to live. The ground floor will include co-working areas, wellness facilities, and a concierge-led lobby that blends indoor and outdoor design cues.

“Wellness has become a more thoughtful consideration, not just gyms or lap pools, but things like magnesium plunge pools, saunas, daybeds, and studio spaces for Pilates and the regular cardio workout,” says Price.

One notable inclusion is a substantial porte-cochère, a covered vehicle drop-off zone integrated into the site plan. It’s a feature rarely seen in inner-urban developments and speaks to the team’s emphasis on ease of arrival and departure for residents and guests.

A display suite for Park Modern is now open by appointment, giving prospective buyers an early look at the project.

[smartcode_project_cta:default project_id=138453]

Joel Robinson

100 years on, Bates Smart returns to South Melbourne's Domain Precinct to design Park Modern

One of the most significant beachfront projects ever proposed for the small suburb of Miami on the Gold Coast, has taken a major step forward.&nbsp;Monaco Property Group has secured approval for <a href="https://www.apartments.com.au/new-apartments/nalu-miami-122-marine-parade-qld-4220">NALU</a>, a $500 million development comprising just 45 ultra-luxury residences on the iconic former Nobby’s Outlook site.

Acquired by <a href="https://www.apartments.com.au/developers/monaco-property-group">Monaco Property Group</a> in 2024 for $70 million, the rare 7,238 sqm Marine Parade parcel boasts more than 80 metres of uninterrupted ocean frontage.

With approvals now secured, Monaco Property Group will move NALU into its delivery phase. The project has been designed by&nbsp;<a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, who collaborated with&nbsp;<a href="https://www.apartments.com.au/landscape-architect/ldg-landscape-architecture">LDG Landscape Architecture</a> and <a href="https://www.apartments.com.au/interior-designers/tom-mark-henry">Tom Mark Henry Interiors</a>&nbsp;to create the low-rise building, its landscaping, and interiors.

<img alt="NALU" data-entity-type="file" data-entity-uuid="3fdf578e-7cc4-4b17-bbc2-ba853522a5d8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/122_Marine_Parade_002.jpg?VersionId=zFhJWVzX0jmCO.5iIIxNELImHesTjWS4" />

Residences will range from 237 sqm layouts to beachfront homes exceeding 1,400 sqm.

At the heart of the project is a 2,200 sqm lifestyle precinct with a bathhouse, fitness centre and resort-style pool, elevated by a concierge service.

Jonathan Grasso, Co-Founder of Monaco Property Group, said the council approval marks an exciting milestone for NALU, which will launch in Q1 2026.

“The project will now progress toward construction, working alongside our world-class collaborators to bring NALU to life," Grasso said.

“Our vision is to create a legacy project for the Gold Coast, one that not only honours the history of the site but also elevates its future, setting a new standard for coastal living in Australia. NALU embodies the pinnacle of design and location and will stand as an enduring icon of prestige and liveability.”

<img alt="NALU" data-entity-type="file" data-entity-uuid="6ae8545b-87ca-4dea-90ed-ac273ec6515d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Image7.jpg?VersionId=Wnmie4bu3x2WQonnG4Pwmh39NdZVKeOV" />

Originally developed in the 1970s as Nobby’s Outlook and later refurbished in 2019 as Nalu, the property has long held a place in the local community’s coastal identity. The new vision will build on this legacy, creating luxury residences that capture ocean views while fostering a lifestyle defined by wellness, connection, and ease.&nbsp;

Beyond its residential offering, NALU will deliver significant economic benefits to the Gold Coast through job creation and opportunities for local suppliers and contractors. Construction is anticipated to commence in early 2026, with completion expected in Q3 2028.

Monaco Property Group approved for $500 million NALU apartments on Miami beach

The most elevated residential tower in Palm Beach, <a href="https://www.apartments.com.au/new-apartments/corallo-palm-beach-5-palm-beach-avenue-palm-beach-qld-4221">Corallo</a>, has officially launched this week, however only a handful of buyers will have an opportunity to buy in to the 17-storey project.

The $200 million mixed-use project includes ground floor dining and retail and is considered so valuable its developer, <a href="https://www.apartments.com.au/developers/changfa-group">Changfa Group</a>, will be staging its release of one-, two- and three-bedroom apartments and penthouses to the market.

[smartcode_project:default project_id=112194 project_image_fid=806]

<a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a> International, Director, David Higgins, said the development’s location just metres from the beach on the corner of Palm Beach Avenue and the Gold Coast Highway influenced the sculptural design by the acclaimed Plus Architecture studio.

“<a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a> locals understand the rare opportunity here at Corallo, particularly being the tallest building in the suburb and its proximity to the beach and local restaurants, and they’ve represented the bulk of pre-launch enquiries,” Higgins said.

“The orientation of the apartments captures views of the coastline from Surfers Paradise to Currumbin, and the diversity of floor plans and apartment types provide an exceptional level of choice.

“The first release includes just 59 one-, two and three-bedroom apartments and two half-floor penthouses, with flexible use designed to appeal to both owner-occupiers and investors."

&nbsp;

[smartcode_project:default project_id=112194 project_image_fid=799]

In addition to the ground floor amenity, residents will also have access to a private dedicated wellness level offering 734 sqm of resort-style amenities including a pool, cold plunge, wet deck, steam room, sauna, gym, day bed, fire pit, barbecue area, dining area and yoga/stretch deck.

The project is located within walking distance of Tallebudgera Creek, Burleigh Heads village, Currumbin Alley and Palm Beach Currumbin High School. The Gold Coast Airport is under 10 minutes away.

[smartcode_project:default project_id=112194 project_image_fid=814]

Higgins said Palm Beach remained a hotly contested suburb for home buyers, with prices doubling in the past five years.

“What makes Corallo so appealing to the local market is the diversity of apartment types and pricing, with one-bedroom apartments starting from $841,000 and two-bedroom apartments starting from $1.34 million,” he said.

“The ground floor retail and dining offering will further expand on Palm Beach’s village atmosphere and create a meeting place for locals, and those opportunities for connection are highly valued.”

&nbsp;

[smartcode_project:default project_id=112194 project_image_fid=807]

The on-site sales display, which includes a fully fitted kitchen, bathroom and bedroom, will be open until early works commence in Q1 2026. Each residence at Corallo will feature premium finishes including natural stone, artisanal brickwork, and warm copper accents.

Changfa Group has a two-decade history of delivering premium developments in Australia and internationally, having recently completed its collection of premium townhomes at Lyra, Hope Island, as well as apartment projects in Leichhardt, Carlingford, and Chatswood in New South Wales.

[smartcode_project_cta:default project_id=112194]

$200 million Corallo Palm Beach launches with limited apartment release

In a move that aligns with NSW's accelerated planning incentives for affordable housing, developer&nbsp;<a href="https://www.apartments.com.au/developers/the-one-collection">One Collection</a> has revised its Hills District apartment plans, and taken it to the NSW Government, to secure approval.

The developer, which is currently delivering Horizon Hurstville, is seeking to add 80 more apartments to its <a href="https://www.apartments.com.au/new-apartments/the-one-castle-hill-16-dawes-avenue-nsw-2154">Castle Hill development</a> near Castle Towers. They already have approval for 280 apartments across eight six-storey buildings.

<img alt="One Collection" data-entity-type="file" data-entity-uuid="b3c298ba-1cc5-4db7-9872-607c75f8ceca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.22%E2%80%AFAM.png?VersionId=wN9KpFIu5ENSGZLLsaZgXQHrXcwEO3Vd" />

Now on the desks of the NSW Department of Planning is 360 apartments, 48 of which will be dedicated to affordable housing.&nbsp;Affordable housing is to be “fully integrated within the building and visually indistinguishable,” according to the planning submission.

The 15,697 sqm block, an amalgamation of 16 sites, spans across Dawes Avenue, Hughes Avenue, and Camdan Crescent, sits 550m from Hills Showground Metro Station.&nbsp;

"The existing context is quickly changing from free-standing homes into residential flat buildings in line with the Hills Showground Precinct planning framework," Place Studio noted.

<img alt="Castle Hill" data-entity-type="file" data-entity-uuid="3ec24948-c185-48fa-af8b-ed25adf302bf" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.04%E2%80%AFAM.png?VersionId=zNDX.IeRROX1RlDeYcS38xn8w_dqgU2t" />

They said the design was informed by the site's unique condition of having three street frontages and was developed to to respond sensitively to iots surrounding context.

"The design adopted a conventional perpendicular alignment to the primary street frontage. The massing of the development was carefully modulated to align with the evolving character of the neighbourhood. The design ensured that the scale was not excessive or out of context, but instead contributed to a cohesive urban form consistent with emerging developments in the area."

<img alt="Castle Hill" data-entity-type="file" data-entity-uuid="f83ffdaa-f960-469d-b6fe-abcece57c9ef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-13%20at%2010.19.09%E2%80%AFAM.png?VersionId=4oKlCyfaKes7jLi1_EMoqa46w2h_YvDZ" />

The apartment mix will be 46 one-beds, 168 two-bed apartments, and 146 three-bedroom units, with 631 parking spaces proposed.

Along the street frontages, the building heights are four storeys with a 7.5 metre setback, and eight storeys with an 11.5 metre setback. It should cost about $150 million to build.

One Collection works hand-in-hand with the respected development and construction firm Masscon, which has built a reputation for leveraging its expertise in the built environment to take on developments others can't. That's what they're achieving at Horizon Hurstville, having taken over the project to deliver it.

First look: One Collection advances plans for Castle Hill apartments

At Yarra’s Edge, <a href="https://www.apartments.com.au/developers/mirvac">Mirvac</a>’s newest tower under construction, <a href="https://www.apartments.com.au/new-apartments/trielle-at-yarra-s-edge-docklands-16-point-park-crescent-docklands-vic-3008">Trielle</a>, sets a new benchmark for elevated living. Rising 45 storeys, 12.5 metres from the Yarra River, the landmark building offers residents access to a private wellness retreat and spa, a resident-only golf simulator, and an elegant lounge, dining and bar complete with a self-playing piano, all without ever having to leave home.

Now, that sense of elevation has reached new heights with the Aerus Sub-Penthouses, a limited release of half-floor riverfront residences on the Collins St axis where the sought-after street meets the Yarra River.

Each Aerus Sub-Penthouse, located across levels 42 and 43, represents the most expansive offering within Trielle, aside from the yet-to-be-revealed crowning penthouses. Spanning between 269 and 301 sqm, these residences are designed to capture natural light and uninterrupted views of the city skyline, Yarra River, and Port Phillip Bay.

[smartcode_project:default project_id=114216 project_image_fid=3784]

Among the collection are three-bedroom sub penthouses, complemented by a media room, and expansive four-bedroom layouts. All include panoramic living areas and oversized master suites with luxury ensuites reminiscent of a five-star hotel, complemented by dedicated dressing rooms finished in timber and natural stone.

The interiors have been crafted by <a href="https://www.apartments.com.au/architects/mirvac-design">Mirvac Design</a>, the developer’s award-winning in-house architecture and design team. Every material has been chosen for quality and longevity, from sculpted stone island benches with feature soft wash LED lighting to bespoke joinery and chevron timber oak flooring.

Kitchens are fitted with a BORA induction cooktop with integrated downdraft extractor, alongside Gaggenau appliances, including a fridge, freezer, and wine fridge. The adjoining butler’s pantry incorporates the exclusive Gaggenau Minimalistic Series including oven, steam oven, microwave, coffee machine and warming drawer, all concealed behind handleless glass panels for a clean, integrated presentation. Bathrooms feature custom Apaisar freestanding baths and basins and natural stone benchtops, continuing Mirvac’s design emphasis on tactile, timeless materials.&nbsp;

[smartcode_project:default project_id=114216 project_image_fid=353085]

Michael Wiener, Design Director at Mirvac, says The Aerus Sub-Penthouse embodies the apex of Mirvac’s design ethos.

“Moving through your home is like walking on air - a private sanctuary where the craftsmanship is refined, the proportions generous, and the flow so effortless, you feel completely at ease in the sky,” Wiener says.

“In Aerus, we wanted to create a sense of weightlessness - a home that feels suspended in the skyline, full of light, grounded in luxury.”

[smartcode_project:default project_id=114216 project_image_fid=3777]

The Aerus Sub-Penthouses are expected to attract a mix of local and international buyers seeking a long-term residence of scale and quality in a riverfront setting, from returning expats to established families and business owners who value privacy, craftsmanship, and convenience within walking distance of the CBD.

With an unmatched suite of amenities, Trielle is the most extensively appointed development Mirvac has created to date at Yarra’s Edge. Within the tower will be The Oasis, a 900 sqm podium rooftop wellness retreat designed in collaboration with spa expert Naomi Gregory. Located seven storeys above the Yarra River promenade, it features a 25-metre lap pool, spa and sauna, hot magnesium spa, biophilic gym, yoga and Pilates studio, cold-pail contrast treatment, and day spa treatment rooms. Further amenities include a piano lounge, bookable dining room, cinema room, golf simulator studio, games room, teppanyaki bar, dog wash bay, and two flexible work hubs, The Biblioteca library and Mills Place office space, catering to residents’ evolving lifestyle needs.

Construction of the $350 million tower is underway through Mirvac’s in-house construction arm, with completion anticipated for mid-2027.

[smartcode_project_cta:default project_id=114216]

Sky-high sanctuaries: Mirvac unveils The Aerus sub-penthouses at Trielle

2019 Property Price Forecast

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EXPERT OBSERVER
Here’s the dumbest question an investor can ask: is this a good time to buy real estate?
The question shows a fundamental and dangerous lack of understanding about property.
A much smarter question is: WHERE is it a good time to buy real estate? Because in a nation as large and as diverse as Australia, at any point in time it’s a good time to buy somewhere. The trick is finding those locations where it’s opportune to buy.
I find myself constantly explaining to consumers that there is no such creature as “the Australian property market”. People think there is because the media keeps telling them there is, aided and abetted by economists who see everything nationally.
The headlines keep proclaiming that “Australian property prices” are falling, because those who think nationally describe housing market growth or decline with a single figure to measure the entire nation.
It’s a ludicrous proposition and one that misleads and misinforms consumers.
So here we are again at the start of a new year and it’s opportune once again to tell people that the essence of success in property investment is understanding that we don’t have one market in Australia.
We have lots of markets and your objective is to avoid the ones which are in decline and locate the ones that are rising or will soon do so.
Fortunately, this is not difficult – so long as you can kick the newspaper reading habit and conduct proper research and acquire real knowledge.
If you’re willing and able to do that, you’ll be miles ahead of the herd and one of the relatively few who will succeed in this business.
If you’ve been searching for predictions on likely outcomes in 2019 – and you’ve been using mainstream media as your primary source – you’ll be massively confused and misinformed, because newspapers and other tabloid media like the ABC have featured only those who have forecast major and widespread price decline.
The vast majority of forecasters – the calm, sensible, rational ones like BIS, Domain, SQM Research, Propertyology and most of the major lenders – have predicted fairly optimistic outcomes in 2019 and 2020. But few of the major newspapers have published their forecasts.
A common theme among the credible forecasters is that Sydney and Melbourne will bottom out in the middle of 2019 and gradually return to moderate price growth, while the smaller capital cities will show growth this year ranging from moderate to strong.
Very few bother with the regions – which is a shame because the biggest price growth in 2018 was in regional areas and this is likely to be the case again in 2019.
One who does look at the regions as well as the capital cities and presents sensible forecasts based on research is Simon Pressley of Propertyology.
Like Louis Christopher of SQM Research, Pressley presents three scenarios in his forecasting, which relate to different outcomes with the lending environmental.
His scenario which assumes lenders returning to “sensible credit policies” in the first quarter of the year (which I think is likely) has Hobart again leading the capital cities on price growth, with rises of up to 10%.
He sees Perth making a solid recovery, with house prices up by between 4% and 7%. He also expects Canberra, Adelaide and Brisbane to be good markets with price growth up to 5-6%.
He expects Melbourne to bottom out during with the year, with only moderate price decline, and Sydney falling a further 3-6%.
I note that Domain published broadly similar forecasts for 2019 recently and I think Pressley is pretty much on the mark, although I think Adelaide will do better than he predicts and that Hobart growth will be less, because I think that market is past its peak. 
Propertyology believes regional centres in the resources states Western Australia and Queensland will be among the best-performing markets this year. Pressley suggests the Sunshine Coast and Cairns will lead in Queensland, with big improvement also in Townsville, Mackay, Rockhampton and Toowoomba.
In WA he likes Albany, Busselton and Margaret River, with Pilbara towns strong also. As always, I urge caution with any market where the mining sector dominates the local economy.
In regional NSW he likes Wagga Wagga, Armidale, Tamworth, Bathurst, Parkes and Muswellbrook, while in regional Victoria he favours Ballarat, Bendigo, Shepparton, Warrnambool and Bairnsdale.
I can’t disagree with much of that. Propertyology and Hotspotting use different methodologies but we often arrive at the same conclusions.
Terry Ryder is the founder of hotspotting.com.au
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Where is it a good time to be buying property in 2019: Hotspotting's Terry Ryder

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Million $ suburbs decline as values fall: Cameron Kusher

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EXPERT OBSERVER
There are growing signs of recovery in resources-related markets in Queensland, both in sales activity and prices. This, plus steady performance in the larger regional cities of regional Queensland, has lifted the sector’s overall performance to its strongest position since mid-2017.
Regional Queensland markets collectively have improved in the past 12 months: in the past four quarterly surveys of sales activity conducted by Hotspotting, the number of locations with growing demand has increased from 30 to 36 to 40 to 45. The number of growth markets had decreased sharply late in 2017 but showed steady improvement in 2018.
A standout feature is the recovery in mining-related markets which have spent several years in downturn. This trend is headed by Mackay (pictured above), which now has rising demand coupled with much lower vacancies, and some suburbs are now showing good price growth.
Emerald’s sales activity is rising, as is the iconic coal-mining town of Moranbah and the Surat Basin town of Chinchilla. Rockhampton, a larger regional centre with strong links to the mining sector, is now showing signs of following Mackay’s lead to recovery.
Emerald is a standout: quarterly sales have been 51, 57, 66, 62, 60 and 77, while the median house price has risen 22% to $300,000 in the past 12 months.
Moranbah’s median price has increased 21% - but only to $200,000, still well below the former peak above $700,000 in this classic example of a boom-bust scenario. Clermont is up 20% to $220,000 and Collinsville 17% but remains below $100,000.
I’m not suggesting investors should rush out and look for places to buy in these places: these mining-related towns are highly volatile markets and more people lose money than make their fortunes there.
But the recovery is noteworthy as it’s part of a wider trend of stronger performance in regional Queensland, against a backdrop of the national situation whereby the strongest markets are in regional Australia.
A significant new event in Queensland is the first signs of recovery in Gladstone, which had boom conditions in 2011 and 2012, thanks to three massive gas projects totalling $60 billion, but suffered a property market downturn because developers over-reacted and created a glut.
Two Gladstone suburbs, New Auckland and Clinton, now have rising markets (but six suburbs remain “danger” markets). New Auckland’s median has risen 9% in 12 months, but most Gladstone suburbs have continued to decline. So, the picture is still more negative than positive – but we are seeing evidence of recovery, including in the reduction in the overall vacancy rate (now close to 3%, according to SQM Research).
The larger, more diversified regional centres of Queensland have increasingly steady markets. The Gold Coast and the Sunshine Coast are both producing good results, especially the Sunshine Coast which is undoubtedly the strongest of the Queensland markets, including Brisbane.
Our latest survey has revealed 62 Regional Queensland locations with annual price growth above 7% - and almost half of them are in the Sunshine Coast region. Noosa
Shire region is thriving, after a lengthy period of stagnation. Median price growth in the past year includes Noosa Heads houses 19%, Noosa Heads units 26%, Noosaville units 16%, Sunshine Beach houses 38% and Sunrise Beach units 23%.
Elsewhere on the Sunshine Coast, Doonan’s median house price has risen 27%, Mt Coolum is up 22% and Twin Waters has risen 23%. But, in terms of sales activity, the Sunshine Coast and Noosa markets may have passed their peaks – they now have considerably more plateau markets than rising ones.
The nearby Gympie region – which benefits from proximity to the booming Sunshine Coast economy - has three suburbs with rising demand.
The post-Games boost predicted by some has not eventuated on the Gold Coast. This market was strong from 2015 to 2017 because of the pre-Commonwealth Games construction boom. Since then the growth has subsided and we can find only five growth suburbs in Gold Coast City, but 41 suburbs classified as either “plateau” or “consistency” markets – and three “decline” markets.
Beyond these South-East Queensland areas, the locations showing most signs of rising are the Fraser Coast, Cairns, Toowoomba and the highly-promising Townsville market, where over $25 billion in new investment is targeted.
The Fraser Coast region, centred on Hervey Bay, now has several rising suburbs, with Torquay and Scarness the standouts. Toogoom, Dundowran and Scarness have all recorded strong price uplift.
Cairns has five suburbs with rising demand, while Toowoomba is showing signs of rising on the back of major infrastructure and other property-related investment.
Overall, regional Queensland is showing increasing signs of joining the biggest trend in Australian real estate – the rise and rise of regional markets.
Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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Regional Queensland property prices rising: Terry Ryder

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EXPERT OBSERVER
Suburbs comprising of larger average land sizes are generally bucking the broader capital city housing market trend and achieving stronger value changes and milder declines over the past year compared to broader capital city markets according to CoreLogic research out today.
The analysis shows the five suburbs in each capital city with the largest average land area based on sales over the 12 months to February 2019. It also shows the median value of these suburbs and the change in median values over the year.
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One of the most noticeable from this data is the fact that for houses, the annual change across these suburbs is typically superior to that across the broader capital cities.
In Sydney, house values have fallen by -11.5% over the 12 months to February 2019. Looking at the five suburbs listed, only Kenthurst has recorded a weaker annual change.
Melbourne house values are also -11.5% lower over the past year and all of the suburbs listed have seen more moderate value falls than that across Greater Melbourne.
Brisbane house values were -0.4% lower over the past year and two of the five suburbs have seen a stronger annual change.
The 0.9% annual increase in Adelaide house values means that four of the five suburbs listed have seen stronger value growth over the past year.
Perth house values are -6.7% lower over the past year with four of the five suburbs listed recording either value increases or more moderate declines than -6.7%.
Greater Hobart house values were 6.8% higher over the past year and three of the five suburbs listed have recorded growth in excess of that.
House values in Darwin increased by 0.2% over the past year and three of the five suburbs with the largest average land sizes recorded greater value increases than that.
While Canberra house values increased by 4.1% over the past year, only two of the suburbs listed recorded growth in excess of this.
Although this data broadly shows that suburbs with larger average land sizes are holding up better in the housing downturn, many buyers value larger land sizes.
As new development increasingly moves towards higher densities and smaller lot sizes for houses, large housing lots are likely to continue to be highly desirable.
The desirability won’t be only for more space, but also where the potential for future sub-division may exist. 
CAMERON KUSHER is a property research analyst for CoreLogic.
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Give me land lots of land: CoreLogic's Cameron Kusher

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EXPERT OBSERVER
A combination of housing values trending lower and sluggish rental conditions, CoreLogic research out today looks at the total investment return trends across Australia’s capital cities and broad regional markets.
Over the 2018-19 financial year, total returns from residential property recorded a fall of -3.3%.
Returns were down from the previous year and it was the only financial year since at least 2005/06 that total residential property returns were negative.
To put that in context, housing returns last year were worse than those recorded during the financial crisis and during the 2010- 12 housing downturn.
The combination of falling values and historically low rental yields have driven total returns into negative territory.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%201.JPG" alt="">
Looking at the national figures in the context of the combined capital cities and combined regional markets shows that returns have reduced over the year across both regions.
However, combined capital city returns have fallen -4.5% while combined regional market returns remained mildly positive at 1.6%.
For the combined capital cities it was the weakest returns on record and the first negative annual return, while across the combined regional markets it was the weakest annual return since 2008-09.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%202.JPG" alt="">
Across NSW, total returns fell over the 2018-19 financial year in both Sydney and regional NSW.
For Sydney, it was the second consecutive financial year in which returns have fallen however, it was a larger -6.7% fall compared to the previous year and the largest fall of any time since 2005-06.
In regional NSW total returns were - 0.5% lower over the past financial year and it was the first time over the period that total returns recorded a decline.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%203.JPG" alt="">
In Vic total returns were lower over the most recent financial year in both Melbourne (-6.0%) and regional Vic (4.5%).
For Melbourne it was the first financial year in which returns were negative since 2011-12 and it was the largest fall in total returns on record.
Although regional Vic total returns remained positive, the market experienced a substantial slowing from the previous year.
Furthermore, it was the slowest growth in total returns for regional Vic since 2011-12 when they increased by 3.5%.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%204.JPG" alt="">
Although total returns throughout the 2018-19 financial year remained positive in Brisbane and regional, Qld there was a substantial reduction in returns across both regions.
Over the year, total returns in Brisbane were recorded at 1.7% the lowest they have been since the 2011-12 financial year and it was the same story in regional Qld with the 3.2% return the lowest since 2011- 12.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%205.JPG" alt="">
Although returns from residential property remained positive over the 2018-19 financial year in SA, both Adelaide and regional SA recorded a slowing of total returns.
Over the year, Adelaide’s total return was 4.1%, which was the smallest return since 2011-12, and down from 6.1% the previous year.
In regional SA, returns slipped from 5.2% the previous year to 4.0%, which was the smallest returns since 2011-12.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%206.JPG" alt="">
Total returns were negative in 2018-19 across WA with both Perth and regional WA recording their largest annual falls in returns on record.
Over the year, total returns in Perth recorded a fall of -5.3% and although returns have fallen over three previous financial years, it was the largest decline on record.
In regional WA, returns declined -5.0%, which was also a larger fall than over any of the three previous financial years in which returns were negative.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%207.JPG" alt="">
Both Hobart and regional Tas maintained positive total returns over the 2018-19 financial year however, it was a significant reduction of returns in Hobart.
Hobart’s return was recorded at 8.1% over the year, down from 17.4% the previous year and its smallest annual return since 2014-15.
In regional TAS the total returns was 11.4%, which was slightly lower than the 13.2% the previous financial year however, returns remained higher than the 10.2% over the 2016-17 financial year.
 <img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%208.JPG" alt="">
Total returns from residential property have softened over the past year across NT.
Darwin recorded a decline in total return of -3.0% over 2018-19 which was a larger fall over the previous year but not quite as large as the -3.6% fall in 2015-16.
In regional NT, total returns were recorded at 7.8% in 2018-19, down from 8.5% over the previous financial year.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%209.JPG" alt="">
Canberra recorded total returns of 6.0% over the most recent financial year.
The total return in Canberra has fallen over the year from 9.4% and the 6.0% return is the lowest since 2013-14. Canberra, along with Adelaide and Hobart are the only capital cities in which total returns have not been negative over any of the financial years shown.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%2010.JPG" alt="">
With early signs that the rate of decline in housing values has slowed in Sydney and Melbourne and rental yields rising across most regions of the country, the outlook for total returns over the coming year looks a little stronger at a national level.
As always, there will be diversity with most regions of the country outside of Sydney and Melbourne yet to show signs of an improving housing market. We may see an improvement in returns in the two largest capital city housing markets while returns continue to weaken elsewhere.
CAMERON KUSHER is the head of research for the Australian branch of CoreLogic
Kusher regularly posts on the <a href="https://www.corelogic.com.au/news" target="_blank">CoreLogic website</a>.
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Housing returns slump over the 2018-19 financial year: CoreLogic's Cameron Kusher

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The latest CoreLogic data shows Perth dwelling prices fell another -0.5% over August, bringing quarterly falls to -1.8% and year on year price falls to -8.8%.
As a result of this latest shift Perth values are now 20.6% down from their June 2014 peak.
Falls in dwelling values were larger across Perth apartments this year with -9.9% falls compared to a -8.6% fall in house values.
Perth's Mandurah has seen the fourth largest overall value decline -35.7% this year.
In July, Domain Economist Trent Wiltshire predicted some Perth price growth in 2020, however he warned there is still an ongoing risk that price falls could continue.
"A more positive outlook for Perth ​has existed for a while, but property prices have continued falling, mortgage arrears​ are rising, and more households are in ​negative equity​," Wiltshire said.
"House and unit prices are expected to bottom out in spring and remain unchanged during the six months to December, with prices likely to stay at the June median of $520,000 for houses and $330,000 for units.
"A rebound in Perth prices in 2020 was expected, but given the entrenched weakness in the market, only modest price growth of 0 to 2% for houses and units was forecast."
<img src="https://www.urban.com.au/images/2019/6/28/Perth%20Forecast.JPG" alt="">
More recently REIWA data showed that listings have increased 6% since the December 2018 quarter to 16,957, however it isn’t helping selling periods. It took an average of 78 days for vendors to sell their properties last quarter.
REIWA data shows that 29% of suburbs in Perth had an increase in rents during the quarter, and 36% of suburbs saw increases over the past year.
President of REIWA Damian Collins recently said: "It’s also worth noting that a significant portion (43%) of Perth sellers are achieving sales prices at or above their original asking price, which suggests that many vendors are heeding the advice of their real estate agent and pricing their properties in line with market expectations."
Herron Todd White found that the residential market in Perth has tracked closely in line with their February predictions for the year (so far).
In their August report, the valuation firm stated: "Our assumptions were that the rental market would continue to be a strong point for Western Australia and that sales volumes and house price growth would remain subdued until 2020.
"There has been a lot of speculation about when the Perth market will finally turn and it doesn’t seem like we are much closer to knowing, mostly due to our split property cycles and diminishing sales volumes.
"Thankfully, the wider Perth area has seen some stability in its median price."
The report noted that according to their data the median house price settled at $500,000 for the March quarter, 0.6% higher than the previous quarter.
The unit median price also remained steady, holding at $380,000.
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j.ballantyne1990-6AQqhLzZaK

Perth prices could finally see a rebound in 2020

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The financial year just done was not a pretty one for property investors across Australia.
CoreLogic calculated total returns from residential property saw a fall of 3.3 percent in the 2018-19 financial year. Total investment returns is the value growth and gross rental returns.
Last financial year was the only financial year since at least 2005/06 that total residential property returns were negative.
The average return over the 13 year period was nine percent.
The best year was 2009-10 when the national return was almost 17 percent.
"Housing returns last year were worse than those recorded during the financial crisis and during the 2010-12 housing downturn," Cameron Kusher at CoreLogic noted, adding it was the combination of falling values and historically low rental yields that had driven total returns into negative territory.
Looking at the Sydney figures, it was the second consecutive financial year in which returns have fallen however, it was a larger 6.7 percent fall compared to the previous 2.7 percent fall in 2017-18.
They were the only years to record a fall since 2005-06, with the average Sydney return being 10 percent.
The best year was 2014-15 when the total return was 21 percent.
In regional NSW total returns were 0.5 percent down in the past financial year, the first time total returns recorded a decline in the past 14 years. NSW regional property saw an average eight percent over the extended period.
The combined capitals were down 4.5 percent, while all the rest was up 1.6 percent.
Kusher maintains that with the early signs that the rate of decline in housing values has now slowed and rental yields rising across most regions of the country, the prospect for total returns over the coming year looks a little stronger for some.
Sydney may see an improvement in returns although they may weaken in most of the other capital cities and regions elsewhere.
While the total returns from residential housing are not looking so attractive, residential property is not alone.
Try living off cash!
Outside of compulsory superannuation, property and shares are the two most common ways of building wealth in Australia.
Investors looking for the best place to invest always face a challenging decision, this year as much as ever. 
There are always the push and pull factors of residential property and shares so choosing the right strategy often comes down to investors’ own timeframes and preferences.
There needs to be an understanding the advantages and risks associated with both.
Be aware the ever present debate comparing the returns on shares with the returns on property tends to be seen through the prism of the commentator's bias.
The Australian share market recently hit an all-time high with the All Ords index surpassing its record in November 2007.
Once dividends are allowed for, the Australian share market had actually surpassed its 2007 record high back in 2013.
The Reserve Bank of Australia’s head of domestic markets Marion Kohler noted recently that the Australian sharemarket, once dividends are included, showed an average annual 8.5 per cent return since 1993.
AMP Capital chief economist Shane Oliver noted earlier this month that going through past bull market highs after a long period below can attract investors into the stock market so it could push on for a bit. 
My views that we shall see an exit of some sharemarket gains into the property market. Perhaps not the influx seen in past cycles, but enough to provide a fillip to the depth of property buying interest.
 
 
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jchancellor-FAypfDUnLy

Is there a choice for investors after housing returns slump over the 2018-19 financial year?

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EXPERT OBSERVER
The residential downturn is expected to reach bottom in most Australian markets by as early as the end of 2019 or early 2020 – much sooner than previously predicted.
In the February release of CBRE’s Real Estate Market Outlook 2019 report we identified the Banking Royal Commission and the federal election as the two ‘unknown’ factors influencing Australia’s residential market outlook.
Signs are now emerging that a controlled relaxation of credit constraints was being managed and forecast interest rates cuts would help stabilise property prices.
The strong likelihood of further rate cuts by the RBA over the remainder of 2019 is expected to boost the prospects of an earlier than anticipated market recovery.
The results of the Banking Royal Commission and federal election would provide some comfort across the remainder of the year, increasing the number of buyers looking to enter residential markets, providing stronger support for prices and bringing forward the cyclical market bottom into 2019.
The federal election’s unexpected result and the relaxation of certain credit market constraints have provided a catalyst for market change.
The Coalition victory means proposed taxation changes impacting investment property, including negative gearing and capital gains tax changes, are off the agenda, while first home buyers have received a modest additional assistance package. The residential markets in general are expected to continue working through their adjustment cycle, with credit availability remaining the key constraint at present.
The results of the Banking Royal Commission were creating a more sustainable credit environment underpinning residential markets, resulting in an arguable credit market overcorrection, with banks appearing to have adjusted their requirements to reflect ‘responsible lending’ practices.
CRAIG GODBER is the Head of Residential Research for CBRE
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