<a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a> has received development approval for Archer &amp; Albert, a 32-storey, mixed-use residential development in the heart of Chatswood.

Located at 57–61 Archer Street and 34 Albert Avenue, <a href="https://www.apartments.com.au/new-apartments/archer-albert-chatswood-57-61-archer-street-chatswood-nsw-2067">Archer &amp; Albert</a> will deliver 150 new homes, including affordable housing, alongside ground-floor and podium retail, commercial space, a heritage house activated as a café, additional ground-level activation, and a landscaped publicly accessible park designed for community use.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/archer-albert-chatswood-57-61-archer-street-chatswood-nsw-2067">Archer &amp; Albert</a> is one of the few large-scale residential developments in the heart of Chatswood City to progress through a council-led architectural design competition and secure development approval, positioning it at the forefront of design led housing.&nbsp;

<img alt="Archer" data-entity-type="file" data-entity-uuid="33cb754a-1493-4203-bd16-096d320597f6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A%2BA_C03_EXT_StreetScape_ID1.jpg?VersionId=oLUPFVAMxuRUTH1Bwki16R48cEo.vLeB" />

Designed by global architecture practice <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, long-term collaborators of the Coronation team, the project draws inspiration from the Sydney Blue Gum High Forest and the leafy character of the South Chatswood Heritage Conservation Area. The design integrates a restored heritage-listed home and establishes a landscaped connection between Chatswood’s urban centre and its surrounding residential neighbourhoods.&nbsp;

“This is an important project for us and our first entry into the North Shore,” said Joe Nahas, Managing Director of &nbsp;Coronation Property.&nbsp;

“We are deliberate about where we invest and build, <a href="https://www.apartments.com.au/developments/chatswood-nsw-2067">Chatswood</a> stands out because the fundamentals are already strong. Transport, employment, education, retail and health are all in place. Archer &amp; Albert is about adding new housing into a centre that already works and building on what exists.”&nbsp;

<img alt="Chatswood" data-entity-type="file" data-entity-uuid="620fcd78-00be-489b-823a-ca353387b91b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/A%2BA_C04_EXT_PARK_HA_ID2.jpg?VersionId=NxSl04Zl1rzt94xlXNA6CNzSR9XMyLgP" />

Aras Labutis, Head of Urban Transformation at <a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a>, said the project reflects a disciplined, collaborative approach to city shaping.&nbsp;

“Chatswood sits at an important junction between high-density commercial activity and established residential &nbsp;neighbourhoods," Labutis said.

"Our focus for Archer &amp; Albert was to manage that transition carefully, respecting what’s already there &nbsp;while contributing something new that feels deliberate and enduring."

The approved scheme delivers:&nbsp;

<ul>
	<li>A 32-storey mixed-use tower comprising 150 homes, including 41 affordable housing dwellings • 530sqm of ground-floor retail, dining and commercial offerings&nbsp;</li>
	<li>A 760sqm wellness tenancy integrated within the podium&nbsp;</li>
	<li>A restored heritage building, thoughtfully reimagined as a café overlooking the park&nbsp;</li>
	<li>A landscaped public park, designed as a calm green retreat in the heart of Chatswood&nbsp;</li>
	<li>Resident amenities include a premium gym, golf simulator, mahjong room, dedicated wellness areas, private &nbsp;dining facilities and a curated wine room&nbsp;</li>
	<li>Deep private balconies designed to capture outlooks and northern light&nbsp;</li>
	<li>A refined material palette of natural stone, timber and terracotta&nbsp;</li>
</ul>

[smartcode_project_cta:default project_id=29796]

Joel Robinson

Coronation receives green light for Archer & Albert apartments in Chatswood

Leading Sydney developer <a href="https://www.apartments.com.au/developers/deicorp">Deicorp</a>, in partnership with Metrics Credit Partners, has officially broken ground on its landmark $1.8 billion Kings Bay Village project in <a href="https://www.apartments.com.au/developments/five-dock-nsw-2046">Five Dock</a>, marking the beginning of construction on one of the most significant urban renewal precincts within the Parramatta Road Corridor.

A sod-turning ceremony was held at the project site on Parramatta Road, with NSW Premier Chris Minns and NSW Planning Minister Paul Scully joining Deicorp Chairman Fouad Deiri OAM and Metrics CEO and Managing Partner Andrew Lockhart, to mark the significant milestone.

Located at 129-154 Parramatta Road, <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-five-dock-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> will transform more than three hectares of underutilised land into a highly connected new neighbourhood comprising 1,185 homes, including 218 affordable dwellings for essential workers, alongside new retail, commercial, and community spaces.

[smartcode_project:default project_id=146120 project_image_fid=356895]

Designed by award-winning architects <a href="https://www.apartments.com.au/architects/turner-studio">TURNER</a>, the precinct blends crafted brick architecture with a pedestrian-focused urban layout across six buildings of varying scale. The project will deliver 14,700sqm of retail and commercial space, 6,500sqm of public open space, and a new 2,290sqm landscaped park and civic plaza that will form the social heart of the community.

Kings Bay Village is positioned minutes from the future Five Dock Metro Station, supporting the NSW Government and City of Canada Bay Council’s shared ambition for a more connected, liveable and revitalised Parramatta Road Corridor. Deicorp will also contribute more than $80 million towards new and upgraded local infrastructure, including pedestrian laneways, an activated streetscape and significant public domain works.

Fouad Deiri OAM, Chairman of Deicorp, said Kings Bay Village represents a defining opportunity for Sydney’s Inner West.

&nbsp;“Today marks the beginning of a precinct that will deliver lasting benefits for the Five Dock community - new homes, new open spaces, and a vibrant mixed-use environment that brings people closer to transport, services and amenities,"&nbsp;Deiri says.

“We are proud to be delivering much-needed housing, including affordable homes for essential workers, in partnership with the NSW Government and the City of Canada Bay. Kings Bay Village is urban renewal at its best - thoughtful, connected and community-focused.”

[smartcode_project:default project_id=146120 project_image_fid=356894]

Metrics CEO and Managing Partner Andrew Lockhart said the company is proud to support more housing and infrastructure in a key Sydney corridor. 
&nbsp; 
“Metrics and Deicorp share a proven track record of delivering high-impact projects that align closely with the NSW Government’s housing and infrastructure priorities. Kings Bay Village marks our most significant Sydney development to date, offering quality homes, essential infrastructure, and dynamic public spaces.” 
&nbsp; 
“This project reflects our ongoing commitment to creating value by supporting economic growth, job creation, and delivering excellent outcomes for our investors,” he said.

With Kings Bay Village now underway, Deicorp’s pipeline of apartments under construction across Sydney has increased to 5,102. Kings Bay Village is scheduled for completion in Q2 of 2029.

[smartcode_project_cta:default project_id=146120]

NSW Premier and Planning Minister join Deicorp and Metrics to break ground on $1.8 billion Kings Bay Village precinct

When Antoinette Chan and her architect husband, Peter began casually searching for an investment property, they weren’t expecting it to evolve into a life-changing family decision.

But one visit to the display suite of <a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>’s <a href="https://www.apartments.com.au/buildings/koyo-crows-nest-1-11-rodborough-avenue-crows-nest-nsw-2065">KOYO</a> development in Crows Nest changed everything, and sparked a remarkable story of three generations choosing to live side by side in one of the suburb's most architecturally-striking new developments.

Antoinette, her mother Janet Khoo, and her sister, who is currently living in Singapore, each purchased an apartment in the same building, creating a rare and meaningful multi-generational living arrangement underpinned by modern design, community values, and premium convenience.

[smartcode_project:default project_id=108800 project_image_fid=356083]

“It wasn’t planned,” says Antoinette, who purchased a three-bedroom garden apartment with her husband and teenage daughter. “Peter came across KOYO and encouraged me to visit because he had a lot of respect for Abadeen’s previous work. As soon as we saw it, we knew it wasn’t just an investment, this was a home.”

Shortly after, Antoinette suggested her mother, Janet Khoo, take a look at the same development. A long-time inner-city resident who had recently sold her property in The Rocks, Janet had experienced some health setbacks and was contemplating a move closer to her daughter.

“I walked into the display apartment, and it just felt right,” says Janet. “I didn’t look anywhere else. The space, the simplicity of the design, the light, everything gave me a sense of peace. It’s a new beginning, but it also feels like home.”

[smartcode_project:default project_id=108800 project_image_fid=356093]

In a stroke of serendipity, Janet selected the two-bedroom apartment next door to her daughter, completely unaware of Antoinette’s purchase. Around the same time, Antoinette’s sister, who resides in Singapore, viewed the property via a virtual tour and chose to buy the apartment directly above Janet’s.

“We were all drawn to KOYO individually, and it just happened that our homes ended up vertically stacked, ground, first, and second floor,” Antoinette laughs. “It was a coincidence, but also a sign. This is where we’re meant to be.”

Designed by celebrated architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, KOYO delivered on all fronts for the Chan-Khoo family.

“Our garden apartment gives us the feel of a standalone home but with none of the maintenance,” says Antoinette. “All three bedrooms open onto a generous private garden, which is perfect for our dog Archie, and for entertaining. The open-plan layout and high ceilings make it feel airy, calm and luxurious.”

[smartcode_project:default project_id=108800 project_image_fid=356092]

For Janet, security and accessibility were top priorities, and KOYO offered the ideal balance.

“At my age, I didn’t want to be climbing stairs,” she explains. “The first-floor apartment opens directly to the garden, and the building is small, which gives it a more personal, village-like feel. Yet I’m just steps away from my daughter and granddaughter. That gives me so much peace of mind.”

The family also appreciated the thoughtful amenities that avoided the excesses of some larger developments.

“We didn’t want a complex with too many facilities we wouldn’t use,” explains Antoinette. “KOYO has everything we need, generous storage, secure parking, beautifully landscaped walkways, and a stunning rooftop terrace with BBQ facilities that feels serene rather than busy.”

[smartcode_project:default project_id=108800 project_image_fid=355428]

The location was another critical factor in the family’s decision. Though they had always lived closer to Sydney’s eastern suburbs, Antoinette says the transformation of Crows Nest was a revelation.

“When we returned from living overseas, we discovered Crows Nest had become this vibrant, walkable hub,” she says. “We love being able to stroll to cafés, restaurants, and shops on Willoughby Road. The new Metro makes the commute into the CBD effortless, and our daughter can walk to her school, it’s just next door."

Janet agree. “I was worried about giving up my inner-city lifestyle, but I’ve fallen in love with this area. It has everything I need, supermarkets, quiet streets, friendly faces, and it’s all a short walk away. I feel safe, independent, and connected.”

[smartcode_project:default project_id=108800 project_image_fid=356085]

While design and location were important, the family also credits their decision to Abadeen’s reputation and responsiveness. With decades of experience delivering high-quality residential projects, Abadeen’s track record helped build trust during a volatile market period.

“The waiting game was tough, especially after selling my old apartment,” says Janet. “But the Abadeen team kept me updated every step of the way. They were professional, courteous, and transparent.”

Antoinette said Peter works in property and had already heard of Abadeen. "The quality of their work really impressed us, and as the project neared completion, they went above and beyond to keep us informed and supported. That level of communication is rare.”

Only a handful of three-bedroom residences remain for sale, priced from $3.5 million.

[smartcode_project_cta:default project_id=108800]

Three generations, one address: How a family found sanctuary and connection at Abadeen's KOYO in Crows Nest

Sydney-based developer Gold Partners Australia is making its move on the Gold Coast, launching what is one of the most affordable towers to the booming Broadbeach market.

Its <a href="https://www.apartments.com.au/new-apartments/harmony-on-broadbeach-2797-gold-coast-highway-broadbeach-qld-4218">Harmony on Broadbeach</a> project, just 400m from the beach, has prices starting from $975,000 for its two-bedroom apartments that measure nearly 90 sqm internally.

[smartcode_project:default project_id=113098 project_image_fid=355607]

There will be 113 two- and three-bedroom apartments spread out across the 33-storey tower on the 1,201 sqm site that will front First Avenue. Gold Partners Australia, which has delivered several major projects in Sydney's Norwest and has an active pipeline with projects in Hornsby and Carlingford, secured the block vacant, and want to start preliminary site works early next year through their in-house construction capability.

DBI Architects designed the tower with a four-level podium which will have an open-air swimming pool, sun deck, outdoor lounges, alfresco dining spaces, and a gym with adjoining yoga lawn. A hospitality venue will anchor the building at street level.

[smartcode_project:default project_id=113098 project_image_fid=355611]

Olympus Property Group is selling Harmony on Broadbeach on behalf of Gold Partners Australia. Olympus Director Deanna Lockett says the project is resonating with everyone from locals, investors, those moving from interstate, and second home buyers from Brisbane.

"There's been nothing new come to the market in Broadbeach at this price point for nearly a year," Lockett recalls. "It hits the sweet spot of affordability, good sized apartments, in a great location."

Construction will commence in Q2 2026, and wrap up, all going well, by the end of 2028.

[smartcode_project_cta:default project_id=113098]

Harmony on Broadbeach launches to booming Gold Coast suburb

Display apartments play a crucial role in helping buyers imagine how a space will look and feel once complete.

At <a href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004">The Albertine</a> in Melbourne, development giant Mirvac has partnered with furniture maker and retailer MCM House to create a fully furnished, full-scale prototype that showcases the proportions, finishes, and design intent of the project’s three-bedroom residences.

As an added incentive, purchasers of any two- or three-bedroom apartment can receive up to $50,000 worth of MCM House furniture, allowing them to curate their new home with the same craftsmanship, contemporary design, and aesthetic showcased in the display apartment.

<a data-entity-type="file" data-entity-uuid="ae2e947b-2d51-4288-88fa-a35638e3be0f" href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004"><img alt="Albertine" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-25%20at%209.27.26%E2%80%AFAM_1.png?VersionId=T5uSwgtTFwd1m5EdQF1inB.tBDgxqbtZ" /></a>

Oversized sofas, solid timber dining tables, and relaxed, low-profile seating demonstrate how the space accommodates real furniture, helping buyers clearly visualise how their new apartment could look, complete with pieces that genuinely suit the scale and design of the home.

The styling is simple but deliberate, with materials that pick up on the apartment’s natural light and neutral tones, creating cohesion without crowding the space.

<a data-entity-type="file" data-entity-uuid="355f10d8-ee75-4546-a42e-4a54abcc806e" href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004"><img alt="Albertine" data-entity-type="file" data-entity-uuid="3e0b920b-3f17-47f0-8885-f67697a5f842" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-25%20at%201.17.07%E2%80%AFPM.png?VersionId=tPcmBls5kt_SLqE2ONXrxgk5SnC1xERs" /></a>

Mirvac is now welcoming buyers through the display at The Albertine. Quietly yet conveniently positioned just off St Kilda Road on Queens Road, the development has attracted strong interest from inner-Melbourne and Bayside downsizers, professional couples seeking luxurious low-maintenance living, and design-focused buyers who want proximity to the CBD.

Apartments have been designed by Mirvac's inhouse design team with owner-occupiers at the forefront.&nbsp;The living and dining areas open directly onto a balcony, reinforcing the project’s emphasis on indoor-outdoor flow, while kitchens feature integrated appliances and soft-curve cabinetry which mirror the larger architectural themes at play throughout the building.

<a data-entity-type="file" data-entity-uuid="e8f9b371-17e1-4122-a615-074113096135" href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004"><img alt="Albertine" data-entity-type="" data-entity-uuid="" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-11-25%20at%209.30.16%E2%80%AFAM.png?VersionId=NCYvtMavnE1_YDhX6slAr7g84MWP0Ymp" /></a>

The Albertine offers one to four-bedroom residences complemented by exclusive resident-only amenity, including The Circadian Club, a wellness centre with an indoor pool and spa, gym, yoga and Pilates studio, and sauna, as well as The Elysian Room, a private dining space on level 10 with sweeping views across Melbourne.

Mirvac will welcome residents to The Albertine in 2026, having recently celebrated topping out the&nbsp;

<a href="https://www.apartments.com.au/developers/mirvac">Mirvac</a>&nbsp;recently topped out&nbsp; the topping out of The Albertine, with completion expected in 2026.

To find out more about the generous furniture offer with MCM House, enquire below.

[smartcode_project_cta:default project_id=138659]

Mirvac unveils The Albertine display, offering up to $50k in MCM House furniture

2021 Forecast

A key reason why fundamental problems in the housing market are never solved is because people seek to treat the symptoms rather than the cause.

This is true in business and in life, as much as it is in the housing market. It makes little sense to take medication for high blood pressure if the underlying cause is that you&rsquo;re overweight because you have a bad diet and you don&rsquo;t exercise.

People who hover around the sidelines of the real estate industry, sniping at things they don&rsquo;t like, are highly prone to demanding actions on the symptoms of a perceived problem when they should be addressing the underlying causes of the symptoms.

Treating symptoms, while ignoring causes, has a tendency to make problems worse. Right now, we have spectators to the housing market demanding controls on landlords because rents are rising.

Other spectators want draconian measures from regulatory authorities because prices are rising, bringing howls of outrage about housing affordability.

In both cases, their targets are investors, always a popular choice as scapegoats when there&rsquo;s growth in housing markets and it&rsquo;s characterised in media as a crisis.

[smartcode_project:default project_id=94542]

The natural impulse of the sideline whingers is to demand a crackdown aimed at investors, because they&rsquo;re always seen as the villains.

The reality for the issue of rapidly rising rents is that we need to be encouraging investors, not attacking them.

The symptoms of the problem are rising rents, but the cause is a chronic shortage of rental properties.

In my four decades of researching and writing about housing markets, I&rsquo;ve never seen vacancies so low in so many places.

Anyone genuine in their concerns (rather than having a whinge or grandstanding for political reasons) should be asking why we have such a shortage and how we can fix that fundamental problem.

Rental control is a quick fix medicine to treat the symptoms, while ignoring the underlying market health issues. It will make the problem worse by exacerbating the fundamental problem, which is that Australians have been massively discouraged from becoming investors.

Rental vacancies are a function of the activity of property investors. When people buy dwellings and make them available for rental in large numbers, there are ample properties for everyone who wants or needs to be a tenant, and rents are likely to be stable.

[smartcode_project:default project_id=600]

But investors have been largely absent from the market in recent years. There has been a growing raft of disincentives to property investment over the past five or six years &ndash; including a series of negative measures by APRA, negative changes to depreciation rules and menacing political rhetoric at the last two federal elections, notably from the ALP which has been intent on scrapping negative gearing and increasing capital gains tax.

We&rsquo;ve also had state governments discouraging investors by hitting them with new taxes, fees and charges. The impact of all those different milestone events since 2015 has been a profound discouragement to investment. Some sections of media have characterised property investment as something akin to a criminal activity, abetted by politicians who have claimed the average investor is a rich greedy bastard who owns 15 or 20 properties and is ripping off the system &ndash; a blatant lie (the official data shows 75% of investors have average incomes and own only one or two properties) but lapped up by a careless media.

The short-term consequences include a rental shortage crisis and the long-term outcomes include fewer Australians who will be self-funded in retirement and will need to be supported in growing numbers by taxpayers. If governments respond to the twits on the sidelines and enforce controls on rental levels, rather than allow market forces to set them, that will be yet another disincentive to investors &ndash; and the problem will get worse.

[smartcode_project:default project_id=100322]

Limiting how much a tenant has to pay in rent is worthless if the prospective tenant can&rsquo;t find a vacant property at any price. That&rsquo;s the reality at the moment. There are so few vacant properties that there are dozens of applicants for every listing and people who desperately need a home keep missing out. Rents are rising because people are offering more than the asking rent in an effort to out-bid their competitors, not because landlords are asking extortionate rents.

And, as an aside, increasingly businesses can&rsquo;t fill job vacancies because willing applicants can&rsquo;t find anywhere to live. The only answer to this problem is to increase the supply of rental properties. And that means introducing measures that encourage property investors.

That will elicit further howls of indignation from the chattering economists and other sideline snipers, but it&rsquo;s the only way to fix this problem.

Rental control is a quick fix medicine to treat the symptoms, It will make the problem worse by exacerbating the fundamental problem, which is that Australians have been massively discouraged from becoming investors

terryryder

Why is there a housing shortage and why will government controls make it worse? Hotspotting's Terry Ryder

EXPERT INSIGHT

Price growth in the early part of 2021 has been beyond impressive in many locations across Australia - it&rsquo;s been exponential.

Every three months, Hotspotting analyses sales activity and prices for every suburb and town in the nation, for the quarterly editions of The Price Predictor Index.

In updating the median prices for each location, it&rsquo;s impossible to avoid the conclusion that something extraordinary has been happening in many of our property markets.

The change in median prices in just three months has been, in many cases, mind-boggling. At Bondi Beach in Sydney, the median house price three months ago was $2,820,000. Now it&rsquo;s $3,100,000. That&rsquo;s an increase of $280,000 in just three months.

At Noosa Heads in Queensland, the median house price has risen from $1,150,000 to $1,400,000, an increase of $250,000 - 22% - in three months. And at Byron Bay, the median house price has gone from $1,835,000 to $2,220,000. 
 
It&rsquo;s happening also in some of the nation&rsquo;s apartment markets. In Kogarah in Sydney, the median unit price has risen from $685,000 to $785,000, a rise 15% in three months, while the median unit price in Rose Bay has increased $125,000, St Ives is up $100,000 and Lindfield $125,000 in that time frame.

[smartcode_project:default project_id=6201 project_image_fid=89013]

Here are some Sydney examples of median price rises over the past 3 months:

<ul>
	<li>Lindfield, houses up from $2,750,000 to $3,120,000, units up from $1,200,000 to $1,325,000.</li>
	<li>Bronte, houses up from $3,400,000 to $3,890,000.</li>
	<li>Cremorne, houses from $2,800,000 to $3,000,000, units from $1,125,000 to $1,170,000.</li>
	<li>Croydon, houses from $1,570,000 to $1,770,000.</li>
	<li>Kogarah, houses from $1,305,000 to $1,405,000, units from $685,000 to $785,000.</li>
	<li>Fairlight, units from $1,425,000 to $1,560,000.</li>
	<li>Freshwater, houses from $2,480,000 to $2,660,000, units from $890,000 to $940,000.</li>
	<li>Kensington, houses from $2,445,000 to $2,680,000.</li>
	<li>Granville, houses from $730,000 to $805,000.</li>
	<li>Coogee, houses from $2,900,000 to $3,125,000.</li>
	<li>Kirrawee, units from $690,000 to $740,000.</li>
	<li>Jannali, units from $665,000 to $730,000.</li>
	<li>Canley Vale, houses from $810,000 to $880,000.</li>
	<li>Collaroy, houses from $2,400,000 to $2,580,000, units from $875,000 to $905,000.</li>
	<li>Naremburn, houses from $2,280,000 to $2,620,000.</li>
	<li>North Sydney, units from $945,000 to $1,025,000.</li>
	<li>Rose Bay, houses from $3,810,000 to $3,960,000, units from $1,475,000 to $1,600,000.</li>
	<li>Woolloomooloo, units from $935,000 to $1,280,000.</li>
	<li>Seaforth, houses from $2,690,000 to $2,895,000.</li>
	<li>St Ives, houses from $2,040,000 to $2,175,000, units from $1,020,000 to $1,120,000.</li>
</ul>

Examples of median price rises in Regional Queensland include these:

<ul>
	<li>Minyama, houses up from $1,315,000 to $1,400,000.</li>
	<li>Mudjimba, houses from $770,000 to $845,000, units from $445,000 to $485,000.</li>
	<li>Noosa Heads, houses from $1,150,000 to $1,400,000, units from $905,000 to $960,000.</li>
	<li>Maleny, houses from $675,000 to $720,000.</li>
	<li>Mermaid Beach, houses from $1,350,000 to $1,440,000, units from $440,000 to $475,000.</li>
	<li>Burleigh Waters, houses from $820,000 to $870,000, units from $415,000 to $465,000.</li>
	<li>Palm Cove Cairns, houses from $670,000 to $745,000, units from $265,000 to $310,000.</li>
</ul>

[smartcode_project:default project_id=22057 project_image_fid=150842]

And examples from Regional NSW include these:

<ul>
	<li>Wentworth Falls, houses up from $675,000 to $770,000.</li>
	<li>Byron Bay, houses from $1,835,000 to $2,220,000.</li>
	<li>Gerringong, houses from $890,000 to $995,000.</li>
	<li>Kiama, houses from $980,000 to $1,050,000, units from $630,000 to $680,000.</li>
	<li>Kingscliff, houses from $1,165,000 to $1,240,000 and units from $620,000 to $690,000.</li>
	<li>Merimbula, houses from $625,000 to $720,000.</li>
	<li>Yamba, houses from $590,000 to $670,000, units from $450,000 to $510,000.</li>
	<li>Albury, houses from $550,000 to $605,000.</li>
	<li>Moss Vale, houses from $690,000 to $740,000.</li>
</ul>

There are thousands of other similar scenarios from the various markets across Australia.

The change in median prices in just three months has been, in many cases, mind-boggling across Sydney

Property price growth has been beyond impressive across Sydney: Hotspotting's Terry Ryder

EXPERT INSIGHT

Make no mistake, this is a big spending budget.

The policy approach was appropriate highlighted by worthy social programs. However, a better balance between short term tax initiatives and genuine tax reform would have been a more effective approach.

New stimulus initiatives, headlined by the surprise extension to the instant asset write-offs for businesses, are worth 4.1 per cent of GDP over four years &ndash; about eight times the pace of the pre-election budget in 2019.

For perspective, the government&rsquo;s stimulus spending in last year&rsquo;s budget following the biggest economic shock since the 1930s was a little higher at 5.5 per cent of GDP, but not materially so.

The disruption from COVID and this associated stimulus response is forecast to see net debt lift from 19.2% of GDP in 2018/19 to 34.2% in 2021/22 and 40.9% in 2024/25.

Despite this sharp increase in debt the cost of servicing the debt is forecast to hold at a modest 0.7% of GDP due to the low interest rate environment.

[smartcode_project:default project_id=3233 project_image_fid=160016]

An early use of policies to reduce debt would have been at the expense of allowing the economy to operate at its potential.

As with other countries debt ratios are unlikely to return to pre COVID levels.

Any return to sustained full employment would see significant budget repair although the public sector is still likely to cycle around much higher debt ratios than we saw before the advent of COVID.

Despite employment levels now being above pre-COVID-19 levels and GDP expected to boom this year, the government is clearly going all in to &ldquo;secure the recovery&rdquo; and drive the unemployment rate down faster.

This drive for growth strategy, along with appropriate commitments to additional services, sees fiscal and monetary policy firmly working together to reach full employment.

The government defines full employment as 4.5 per cent, although that level is not forecast to be reached until mid-2024. Westpac &ndash; and I believe the Reserve Bank &ndash; sees it as 4 per cent or even a little lower.

BILL EVANS&nbsp;is the Chief Economist at Westpac

The policy approach was appropriate highlighted by worthy social programs, however, a better balance between short term tax initiatives and genuine tax reform would have been a more effective approach

bevans-rYk9SxEa4r

Federal Budget 2021: Genuine tax reform stuck in the too-hard basket: Bill Evans

<html><body>The Reserve Bank of Australia governor Philip Lowe has warned that "history suggests that shifts in population growth can have large effects on the housing market."

It was his bluntest warning yet about the dangers of the current house price boom across most of the country.

The RBA boss affirmed the financial regulators were "watching carefully" to see if home lending restrictions were necessary while giving a speech at the Australian Financial Review's Business Summit.

"There are many moving parts at present," he noted.

"Record low interest rates; a shift in preferences towards houses and away from apartments; strong demand for housing outside our largest cities; large government incentives for first-home buyers and home builders; and the slowest population growth in a century," he observed.

"Time will tell as to how these various factors ultimately balance out, but history suggests that shifts in population growth can have large effects on the housing market."

"At its recent meetings, the board has discussed developments in the housing market, including the rising housing prices across most of the country.

"Looser standards would increase medium-term risks and add to the upward pressure on prices, so would be of concern," he advised.

Lowe said he recognised that low interest rates were one of the factors contributing to higher housing prices "and that high and rising housing prices raise concerns for many people."

"I would like to reiterate that the RBA does not target housing prices, nor would it make sense to do so. 

"I recognise that low interest rates are one of the factors contributing to higher housing prices and that high and rising housing prices raise concerns for many people. 

"There are various tools, other than higher interest rates, to address these concerns, leaving monetary policy to maintain its strong focus on the recovery in the economy, jobs and wages," he noted.</body></html>

The RBA governor Philip Lowe noted "history suggests that shifts in population growth can have large effects on the housing market."

jchancellor

RBA boss Dr Philip Lowe warns on low population growth impact on housing

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EXPERT INSIGHT

We have lifted our growth forecast for 2021 from 4% to 4.5%; the key will remain the household sector, where accumulated savings; ongoing reopening; vaccines and the boom in the housing market are likely to offset the major headwinds of reduced government support and zero net immigration.

Westpac has lifted its GDP growth forecast in 2021 from 4% to 4.5%, with the 2022 forecast holding at 3%.

The December quarter national accounts provided rich evidence of the key dynamics that will emerge as the recovery continues.

They showed continued evidence of Australia’s bounce back from the pandemic induced recession in the first half of 2020.

Growth in GDP printed at 3.1%qtr, following the 3.4% increase in the September quarter. Annual growth is now -1.1% for 2020, compared to market expectations of -2% only a week earlier.

The key components of growth – household consumption; business investment and dwelling construction all surprised on the upside.

Our forecasts for GDP growth anticipate solid ongoing momentum in those components in 2021.

Household consumption lifted by 4.3% in the December quarter 2020, significantly boosted by the reopening of Victoria where spending increased by 10.4%. Spending in the rest of Australia rose by 2.3%. This result provides compelling evidence of the “reopening” effect with Victoria contributing around 2ppts to the growth rate in household spending.
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bevans

Boom in housing market likely to offset major economic headwinds: Westpac's Bill Evans

<html><body>Australian home prices are likely to rise another 5% to 10% this year and next, according to Shane Oliver at AMP Capital.

"Prices were being boosted by record low mortgage rates, government home buyer incentives and the recovery in the jobs market.

"But the stop to immigration and weak rental markets will likely weigh on inner city areas and units in Melbourne and Sydney. 

"Outer suburbs, houses, smaller cities and regional areas will see relatively stronger gains in 2021," he forecast.

His comments came after housing finance rose to a new record; and house prices rose at their fastest pace in nearly 18 years. 

"While home building approvals fell sharply this reflects volatility driven by the HomeBuilder incentive scheme with dwelling construction still on track for strong growth.

"There was some other good news too with the share of housing and small business loans in payment deferrals collapsing further to just 1.8% and 1% respectively in January," he added.</body></html>

The stop to immigration and weak rental markets will likely weigh on inner city areas and units in Melbourne and Sydney

Weak rental markets will weigh on inner city units in Melbourne and Sydney: Shane Oliver

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Amid ongoing uncertainty in the global markets due to COVID-19 it remains low rates as usual for the RBA, who kept the official cash rate at 0.10 percent for another month.

Their recently released chart pack, which details figures from the world economy to Australia's financial figures, yielded interesting information about the Australian property situation

Private residential building approvals has continued to soar, up once again in February as seen below.

<img alt="" height="339" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/rba_chart_1.jpg" width="407">

This trend continues to be driven by growth in the detached housing sector which can be attributed to the HomeBuilder grant among other government initiatives

<img alt="" height="357" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/rba_chart_2.jpg" width="396">

There continues to be a gap between household consumption and disposable income.

A household's disposable income hadn't been higher than its consumption since 2014.

This is in sharp contrast to the current Covid-19 effected situation.

Housing price growth can be seen to have come out of a dip with APM recording the smallest falls as seen below. 

<img alt="" height="313" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/rba_chart_3.jpg" width="401">

Residex and CoreLogic data showed that for the year to February home price growth near zeroed out.

Housing loan commitments continue to soar to new record highs, levels well beyond the 2015 and 2017 highs.

<img alt="" height="353" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/rba_chart_4.jpg" width="393">

This trend is similarly driven by government initiatives with owner-occupiers rocking this trend up to $20 billion in commitments.

Investor's have also been investing further although clearly not to a similar level as many lack incentive in this current low supply, high demand market.
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Data showed that for the year to February home price growth near zeroed out, however a growth spike seems to be on the horizon

jordan_55689

House prices hold steady and ready for turnaround: RBA 

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The HomeBuilder Grant together with increased buyer confidence, record levels of savings and affordable land prices has encouraged an optimistic 2021 in Victoria, according to Red23’s managing director Terry Portelli.

Price growth remains at a minimal level, with the median land price stable at $322,000, increasing 0.31% during the last quarter of 2020 however down 0.62% year on year.

Median land price increases were seen across 5 of the 7 metro growth area municipalities as well as Greater Geelong with above 3% increases witnessed in Casey, Whittlesea, Greater Geelong and Mitchell.

Casey has continued to be the price leader, pushing their median land price over $360,000.

<img alt="" height="736" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/median_land_prices_vic_2021.jpg" width="1226">

Uncertainty arising from the Covid-19 pandemic and employment security meant the Victorian new homes sector suffered a push back in 2020, but adjusted by developing online selling environments, Portelli advised. 

“The second half of 2020 exceeded expectations due to the HomeBuilder Grant albeit impacted by limited international travel, population growth and migration,” he said, noting in metro Melbourne, nearly 15,000 land sales were made in 2020, doubling that of 2019.

The largest increases by municipality were Whittlesea (+129%), Melton (+123%) and Mitchell (+82%) while all other municipalities also increased by between 21% to 60%.

Red23 pointed out the HomeBuilder Grant proved successful in driving demand for new homes, with the Treasury figures showing Victoria accounted for 21,959 of the 75,000 applications.

“Titled lots available are now diminishing,” he advised.

Home buyers can now spend up to $850,000 on a home and receive the $15,000 HomeBuilder Grant when purchasing between January 1 and March 31, 2021 on condition that their income does not exceed $125,000 as an individual, or $200,000 as a couple.

“Land prices remain at their most affordable since early 2018.

“We have seen a reduction in the number of incentives and rebates being offered by developers,” he noted.

<h2>Recently listed properties in Melbourne:</h2>

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[smartcode_project:default project_id=22803]

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Median land price increases were seen across 5 of the 7 metro growth area municipalities as well as Greater Geelong

Why are land prices creating an optimistic 2021 Victorian market?

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Here’s how you spot a real estate charlatan, someone who likes to present themselves as a real estate expert but who in reality knows nothing worth hearing …

- They speak of Australia as a single property market; and/or

- They attribute price growth to “record low interest rates”

Mostly these pretenders are economists. I would remind you of a much-quoted definition of an economist: Someone who can tell you tomorrow why their predictions yesterday didn’t come true today.

We have learnt over the years, but particularly in 2020, that the bigger the name and the media profile, the worse they are at analysing residential real estate and forecasting outcomes.

Cast your minds back to the predictions in March/April 2020 from senior economists employed by the major banks, big institutions like AMP and even those working for specialist real estate research entities. And then again later in the year when the so-called September Cliff was proclaimed an impending disaster.

There was a chorus of predictions of a long recession, with double-digit unemployment and real estate values collapsing. How spectacularly wrong they were. Only the specialist property analysts got it right.

But the appalling track record of economists with real estate analysis stretches back years and includes the alarmist predictions about property prices in the wake of the GFC – also proven to be spectacularly wrong. 

It’s remarkable that media continues to give these charlatans airplay. Credibility, it seems, is optional, so long as you have “economist” in your title.

So the nation’s gaggle of chattering economists has been compelled to admit they got it wrong in 2020 and most of them are now forecasting big price growth this year. You will note that what they are predicting is already happening, highlighting another characteristic of this bloated and overblown profession: predicting the recent past.

And how do they explain the gathering boom? Record low interest rates!

God help us. The lack of expertise among the talking heads who clutter up the airways with their simplistic analysis is quite breathtaking.

As we all know, we’ve had ultra-low interest rates for years. Very little has changed in that regard to explain the recent uplift in sales activity. When Sydney and Melbourne were having their real estate boom from 2013 to 2017-ish, economists generally explained the price rises with “record low interest rates”. They had no response to the obvious question at the time: how come prices in Perth and Darwin were falling, while Canberra, Brisbane and Adelaide were stagnating?

The “low interest rates = property boom” theory also fails to explain why the last two genuine nationwide property booms, in the late 1980s and in the early years of this century, both occurred during periods of very high and rising interest rates.

My view, strongly, is that record low interest rates do not explain what’s happening in real estate across most of Australia.

The growth is being fueled by multiple factors, including …

- A stronger-than-expected economy

- Lower-than-predicted unemployment

- State and federal stimulus measures

- The build-up of savings during the pandemic period

- People in lockdown reviewing their life choices

- Ultra-low vacancies, putting upward pressures on rents and prices

- Pent-up demand, leading to rising sales activity

- Low listings levels, relative to rising buyer demand

- The Exodus to Affordable Lifestyle trend, which is hugely influential

- Increased spending on major new infrastructure

- The revival of the resources sector

- The return of ex-pat Australians in large numbers

- The belated entry of investors to compete with owner-occupiers

-Perceptions about the safety and solidity of bricks &amp; mortar in times of uncertainty

-The growing prevalence of e-commerce and its impact on industrial property, which has repercussions for residential demand

- Access to low-cost finance

And you’ll notice that I mention low interest rates as just one of 16 different factors – and I mention it last and definitely least.

Terry Ryder is the founder of hotspotting.com.au

ryder@hotspotting.com.au

twitter.com/hotspotting
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The nation’s gaggle of chattering economists has been compelled to admit they got it wrong in 2020

Economists got real estate wrong in 2020: Hotspotting's Terry Ryder

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After a stronger than expected housing turnaround, NAB are now forecasting dwelling values to rise by an average of eight per cent nationally across 2021, with a view that 2022 will also see strong gains.

The revision comes after the turnaround in the housing markets, pared with low interest rates, the government's HomeBuilder grants and stamp duty concessions on newly built properties.

"The housing market has fared significantly better than expected over the past year, despite significant headwinds from slower population growth and a weaker labour market," the NAB report read.

"Lower interest rates and household income support from the Federal Government have been a key support amidst the challenges of the pandemic.

"While the impact of lower rates is broad-based, there are some key dynamics underlying our forecast."

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NAB expect the smaller capitals to continue to outpace Sydney and Melbourne, but the two biggest capital city markets have closed the gap from NAB's previous forecasts.

In the Q2 update in mid-2019, NAB were forecasting a -4.3 per cent average decline across the country, with Melbourne (-7.3 per cent) and Sydney (-4.7 per cent), driving the losses.

In Q3, following a positive response to COVID-19, NAB flipped their forecast, predicting five per cent gains nationally over 2021 and Melbourne (+3.6 per cent) and Sydney (+4.4 per cent), going full circle.

Now NAB expect nearly eight per cent gains average, with Sydney and Melbourne not far behind other capital city markets.

<img alt="" height="791" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/nab_q4_forecast.jpg" width="1200">

They expect the best performer to be Brisbane, where there are 10.1 per cent gains forecast for 2021 and 6.3 per cent for 2022.

Adelaide and Hobart are predicted to see the strongest gains over 2022, up 7.4 per cent after 8.9 per cent and 9.7 per cent gains over 2021.

Sentiment has been on the turn for a number of months and the NAB Residential Property Index ended 2020 at a survey high +45 points. Confidence levels returned to levels last seen before COVID in late-2019 as expectations lifted sharply for house price growth across the country.

<img alt="" height="905" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/nab_sentiment_q4.jpg" width="1200">

NAB economist Alan Astor says first home buyer demand remains very strong in new and established housing markets and is likely being supported by historically low interest rates and government support such as the First Home Loan Deposit Scheme and HomeBuilder.

"The brief pullback in house prices earlier in the year may have also helped sentiment among these buyers."
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The revision comes after a stronger than expected housing market, pared with the low interest rates, the government's HomeBuilder grants and stamp duty concessions on new properties.



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