<a href="https://www.apartments.com.au/developers/draycon">Draycon Building</a> is nearing completion of Boutique Chevron Island, a 42-apartment development on the northern end of Chevron Island at 17–19 Parneno Street, with a limited-time offer of fully furnished apartments available.

Now more than 90 per cent complete, <a href="https://www.apartments.com.au/buildings/boutique-chevron-island-17-19-parneno-chevron-island-qld-4217">Boutique</a> has been shaped by one of the Gold Coast’s most tightly held island addresses, where riverfront outlooks and walkable access to Surfers Paradise converge.

For Draycon Building Managing Director Howard Dabit, the appeal of the site was immediate.

“I knew it was a good site as soon as I saw it,” Dabit said.

“The position and location on the north end of <a href="https://www.apartments.com.au/developments/chevron-island-qld-4217">Chevron Island</a>, the way the river swirls around the site basically from the north to the east, it feels like the site is surrounded by the water. The height that we’ve got and the aspect looking north is beautiful. Eighty per cent of the apartments are looking north so they get that drenching sunlight coming in.”

[smartcode_project:default project_id=89709 project_image_fid=360922]

That northern orientation places the development within a stretch of Chevron Island defined by open river aspects and skyline views, while remaining embedded in the suburb’s established village setting.

Chevron Island has increasingly drawn owner-occupiers seeking centrality without the intensity of high-rise beachfront living. Positioned at the geographical centre of the Gold Coast, the island offers direct access to both the beach and key cultural infrastructure while retaining a neighbourhood-scale character.

Connected by bridge to Surfers Paradise, Chevron Island offers walkable access to beaches, riverfront parklands and a revitalised foreshore boulevard animated by walkers and cyclists throughout the day. The Pacific Ocean is only minutes away, reinforcing the suburb’s dual river-and-surf identity.

At the same time, Thomas Drive forms the spine of the island’s village life, delivering cafés, wine bars, casual dining and everyday services within easy reach. Independent grocers, wellness operators and neighbourhood retailers contribute to a community atmosphere that remains distinct from the vertical scale of the beachfront.

[smartcode_project:default project_id=89709 project_image_fid=360915]

In the opposite direction, the Green Bridge links directly to HOTA – Home of the Arts – placing galleries, performance venues and parklands within walking distance. Weekly markets and major exhibitions draw visitors from across the region, while residents return to a quieter residential pocket at day’s end.

Public transport, including nearby bus routes and the G:link light rail corridor along the coastal spine, strengthens connectivity north and south. Griffith University, the Gold Coast University Hospital precinct and established private schools such as The Southport School are all within a short drive.

Ongoing investment across Surfers Paradise, HOTA and the broader Southport corridor has elevated amenity while preserving Chevron Island’s comparatively low-rise residential character. It is this balance, walkable village atmosphere paired with metropolitan-scale infrastructure, that continues to differentiate the suburb from higher-density beachfront precincts.

Boutique comprises just 42 residences, designed to maximise river and skyline outlooks within this tightly held island setting.

Boutique Chevron Island is slated for completion in April 2026, with prices starting from $1,220,000.

[smartcode_project_cta:default project_id=89709]

Joel Robinson

Draycon Building’s Boutique Chevron Island places 42 residences at the heart of the Gold Coast

Sydney developer <a href="https://www.apartments.com.au/developers/deicorp">Deicorp</a> has secured planning approval for a $300 million residential development in Lindfield, marking the company’s second project on Sydney’s North Shore and its first on the Upper North Shore.

Located on Beaconsfield Parade and designed by DKO Architecture, the state significant development comprises three buildings of up to 10 storeys and will include 399 residences, including 59 affordable homes and 40 adaptable homes.

Residences will range in size from one, two and three bedrooms, with two-bedroom apartments accounting for over 60 per cent of the product make-up. Residents will have access to a broad suite of amenities, including a wellness area, indoor and outdoor recreational spaces, a pool, a gym, a community room and a golf simulator.

In line with Deicorp’s long-standing focus on creating transit-oriented communities, the project is located just 260 metres from the Lindfield Train Station, reinforcing its role in delivering well-connected housing close to established infrastructure, retail and local services.

The inclusion of affordable and adaptable housing supports greater diversity within the local market, while the mix of apartment types responds to demand from downsizers, young professionals and families seeking access to the Upper North Shore.

Deicorp Founder Fouad Deiri OAM said the approval represents an important milestone for both the company and the suburb

“This approval allows us to deliver well-designed homes in a location that is already supported by strong transport and community infrastructure," Deiri said.

"Our focus is on creating places that integrate into their surroundings and provide long-term value for residents, and the broader Lindfield community. Being within walking distance of the station ensures this project supports sustainable growth in the right locations."

Across its portfolio, Deicorp currently has 4,703 apartments under construction, playing a leading role in shaping connected, liveable communities across Sydney.

Its expanding portfolio of Metro-linked developments includes Tallawong Village, <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> in Five Dock, <a href="https://www.apartments.com.au/new-apartments/hyde-metropolitan-sydney-133-141-liverpool-street-sydney-nsw-2000">Hyde Metropolitan</a> in Sydney CBD, <a href="https://www.apartments.com.au/new-apartments/falcon-alexander-crows-nest-8-alexander-street-crows-nest-nsw-2065">Falcon &amp; Alexander</a> in Crows Nest and Showground Village, Castle Hill.

Deicorp purchased the Beaconsfield Paradise site last year. Construction is scheduled to commence in Q2 of 2026 and will be completed in 2029.

Deicorp expands portfolio to nearly 5,000 apartments with Lindfield project

In a joint venture with The Trump Organization, Australia developer Altus Property Group has announced plans to bring a Trump International Hotel &amp; Tower to the Gold Coast, marking the first Trump-branded project in Australia.

"Trump International Hotel &amp; Tower, Gold Coast is our first official project in Australia and reflects our unwavering commitment to delivering world-class luxury experiences in iconic locations around the world," Eric Trump, Executive Vice President of The Trump Organization, said.

"This development exemplifies the Trump brand’s dedication to quality, sophistication, and unmatched service, and we are thrilled to bring this vision to the vibrant Gold Coast community."

The 91-storey building, which will become the tallest in Australia at 335 metres, will feature a&nbsp;285-room luxury hotel bearing the trademark Trump logo. It will also include 272 luxury residential apartments, a three-level podium with an exclusive Beach Club, and over 3,400 sqm of premium commercial, retail, and dining space, revitalizing the central Surfers Paradise precinct.

“Trump International Hotel &amp; Tower, Gold Coast will be a truly unique offering in the Australian market, bringing the prestige and allure of a world-class luxury brand,"&nbsp;Altus founder and chief executive David Young said.

"Altus Property Group is proud of its track record in delivering landmark developments across Australia, and our expertise ensures this project will be an outstanding success."

Trump Hotel heads for the Gold Coast to become Australia's tallest building

More than a century after the Corrimal Coke Works first opened in 1912, the industrial landmark that helped shape the suburb is being reinterpreted as a walkable residential neighbourhood, with Stage One of <a href="https://www.apartments.com.au/new-apartments/the-works-stage-one-27-railway-street-corrimal-nsw-2518">The Works</a> now underway at 27 Railway Street.

For 102 years, the site was central to <a href="https://www.apartments.com.au/developments/corrimal-nsw-2518">Corrimal</a>’s economic and social identity before operations ceased in 2014. Rather than erasing that legacy, developer Legacy Property has embedded it into the masterplan, retaining and reinterpreting elements such as the iconic 1912 brick chimney and sections of the original C1 Coke Oven Battery, alongside the adaptive reuse of the former powerhouse building.

Stage One will introduce 181 apartments across low-rise buildings, offering predominantly two and three-bedroom residences with completion targeted for mid-2027. The scale and configuration reflect a deliberate focus on owner-occupiers, targeting those seeking a lower-maintenance home in a prime location within the northern suburbs of Wollongong.

[smartcode_project:default project_id=143415 project_image_fid=359833]

Apartments have been designed to maximise natural light and cross-ventilation, with floor-to-ceiling glazing extending living areas onto generous balconies. Engineered timber flooring, induction cooktops and 900mm ovens in larger residences support everyday functionality, while two interior palettes allow buyers to tailor finishes to their preferences. The material selection draws on a restrained coastal language, intended to connect homes to their surroundings rather than compete with them.

The Works forms part of a broader 18-hectare masterplan that will ultimately deliver around 550 dwellings, new parks, and a heritage precinct celebrating the site’s past. More than seven hectares are dedicated to open space, including Southern Park and a Village Green with community gardens and recreation areas. The creek corridor is being rehabilitated with 150,000 native plantings, restoring biodiversity to the site and softening landscape.

[smartcode_project:default project_id=143415 project_image_fid=359841]

Positioned adjacent to Corrimal Station and within walking distance of Corrimal Town Centre, the precinct places daily essentials, rail connections and local retail within easy reach. Wollongong CBD, including the hospital, university and entertainment venues, sits approximately 6.5 kilometres to the south.

For buyers more familiar with North Wollongong, Corrimal offers a different proposition: a well-established coastal suburb framed by beaches to the east and the escarpment to the west, with a strong sense of local identity shaped in part by the former Coke Works. The Works seeks to reinforce that identity by creating a connected, walkable neighbourhood between coast and escarpment, rather than a standalone apartment complex.

Sustainability underpins the development approach. The Works is targeting Wollongong’s first 5-Star Green Star-rated community, with water-sensitive urban design, recycled materials and energy-efficient buildings integrated across the masterplan. For residents, these measures provide not only environmental benefits but also reduced operational costs and future resilience.

[smartcode_project:default project_id=143415 project_image_fid=359842]

With construction commenced and display materials available to view, prospective buyers can now engage more directly with the project’s vision, reviewing floorplans, material selections and the broader masterplan in detail. For many local homeowners weighing a move, the opportunity to experience how heritage, landscape and contemporary design intersect may help bridge the gap between familiarity and the next chapter.

As Stage One progresses toward its mid-2027 completion, The Works represents a significant chapter in Corrimal’s evolution, transforming a site that once powered local industry into a walkable residential precinct designed for its next generation of residents.

[smartcode_project_cta:default project_id=143415]

Legacy Property’s The Works reimagines Corrimal’s century-old Coke Works

When it comes to developing in Melb​ourne's Bayside region, <a href="https://www.apartments.com.au/developers/lowe-living">Lowe Living</a> knows exactly what buyers want.

With a longstanding presence in the area and a string of sell-out projects, Lowe Living consistently delivers developments that are as sought-after as their predecessors.

Their latest instalment is in <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a><a href="https://www.apartments.com.au/developments/hampton-east-vic-3188">&nbsp;East,</a> the same postcode where they have previously delivered Hampton Hill and Oceano. The developer-builder recently commenced construction on its newest project,&nbsp;<a href="https://www.apartments.com.au/new-apartments/marella-hampton-31-35-alicia-street-hampton-east-vic-3188">Marella</a>, a collection of 32 apartments just five minutes from the beach.

Site acquisition is paramount to success. Lowe Living rarely brings a building to market that isn’t within walking distance of essential amenities, whether it be the beach, a prominent retail strip, or a train station. Marella is no exception, located at its Alicia Street address, less than a kilometre from the retail heart of Hampton Street and Hampton Station.

[smartcode_project:default project_id=146197 project_image_fid=358495]

Equally important to Lowe Living is the architecture.

For Marella, they appointed <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>, who explains that the architectural vision was to create a contemporary reinterpretation of the Californian bungalow, a style that’s iconic to Hampton’s heritage.

"By borrowing, abstracting, and reinterpreting elements of this quintessential style, such as strong datum lines, articulated columns, exposed structures, and roof tiles, our design strikes a balance between modernity and familiarity," says Cera Stribley.

"This approach ensures that the development is not only visually appealing but also contextually sensitive, resonating with Hampton's existing architectural landscape."

[smartcode_project:default project_id=146197 project_image_fid=358499]

The building features terracotta brick, soft cream masonry, and exposed metal detailing, giving it a tactile presence that is intended to weather gently over time.

Internally, the focus on lasting quality continues, with two and three-bedroom residences anchored by sculptural stone kitchen islands, natural light, and clearly defined transitions between living, dining, and outdoor spaces.

The layouts have been carefully designed. Open-plan zones extend to private balconies, with light-filled interiors and generous kitchen proportions, supported by Miele wall ovens, induction cooktops, and integrated fridge-freezers. These are not small apartments rebranded as luxury; they have been designed at scale, with ample storage, hotel-style entry access, and secure basement parking provided as standard.

[smartcode_project:default project_id=146197 project_image_fid=358492]

At the uppermost level, Marella’s Signature Collection penthouses offer city or bay views, large entertaining terraces (some with outdoor spas), and elevated finishes, including fully wrapped stone kitchen benches and a Liebherr wine fridge.

Flexible room arrangements allow for a fourth bedroom or secondary living space, sought-after by both empty nesters who want the space when family visits and families with older children.

[smartcode_project:default project_id=146197 project_image_fid=358498]

A residents’ lounge on the ground floor reinforces the project’s small-community feel. With a fireplace, private dining area, and adjoining terrace, it’s one of several shared spaces that balance amenity with privacy and scale.

Construction has commenced, with completion expected in early 2027.

[smartcode_project_cta:default project_id=146197]

Lowe Living continues Bayside legacy as Marella rises in Hampton

Andrew Wilson

<html><body>
The number of national capital city established homes newly advertised for sale over the week ending February 7 surged by 11.5% compared to the previous week's total, according to Dr Andrew Wilson, chief economist at the property platform Archistar.

The latest data shows the national total new listings over 2021 so far have are now 7 percent higher than recorded over the same period in 2020.

Melbourne saw the biggest early February jump, up by 28.% followed by Sydney 15%, Adelaide 11.5% and Brisbane up 10%.

Dr Wilson noted newly listed home numbers for Perth however fell by 36% over the week clearly reflecting the impact of its recent coronavirus lockdown.

Melbourne also reported the most newly listed established homes for sale over the past week - 12.7% higher than Sydney’s total.

“Newly advertised listing numbers can be expected to continue to surge over coming weeks and track higher than last year’s results at the same time - particularly as the autumn home auction season gathers pace,’ Dr Wilson said.

“More listings will be good news for buyers offered more choices – but they can expect to pay higher prices in a hot market,” he added.

Archistar is an Australian property platform which combines architectural design with artificial intelligence to inform decision-making in property and is used by agents, developers, architects, government planners and homeowners nationwide.

.
</body></html>

The latest data shows the national total new listings over 2021 so far have are now 7 percent higher than recorded over the same period in 2020

jchancellor

Property listings starting to rise

<html><body>
<div id="ember1421">
The hardworking Domain senior economist Dr Andrew Wilson has been missing from zealously offering his commentary on property markets for several months.
An official announcement headlined "Dr Andrew Wilson resigns from Domain" came on his LinkedIn on the weekend.
"On October 25th last year, I resigned as Chief Economist for the Domain Group," he advised.
He was however noticeably absent from early October.
His predecessors include Matthew Bell, who left in 2010 for Stockland, and Louis Christopher who leads SQM.
"My resignation concluded seven years employed by Fairfax brands Australian Property Monitors and Domain Group. 
"Following my resignation notification, Domain enforced the ‘garden leave’ provision of my three month notice period. 
"This provision precluded me from having any contact with workmates, clients, the media and the wider community through my various social networks.
"With my garden leave and Domain Group employment finally concluded, I will now activate my role as Australia’s leading independent property market economist," he advised.
The background, according to some Fairfax-linked sources, is that Dr Wilson felt unappreciated by Domain's chief editorial and marketing officer, Melina Cruickshank, who has been responsible for the increased trivialisation of property coverage since she joined Domain in October 2014.
</div>
<div>
<div id="ember1443">
<div id="ember1451">
<div><a href="https://www.linkedin.com/feed/update/urn:li:activity:6362442199023656960/" data-control-name="object" data-ember-action="" data-ember-action-1452="1452"></a></div>
</div>
</div>
</div>
This time last year Dr Wilson anticipated capital city housing markets would see mixed results in 2017, but he advised there would "no surprise" that Sydney and Melbourne were likely to continue to lead.
It was likely that other capitals would remain steady, with price growth generally constrained by low income economies, he said.
<div title="Page 2">
<div>
<div>
<div>
"Lower interest rates in 2017 are likely to continue to bolster housing markets, with an increasingly underperforming national economy almost certain to require further stimulus from the Reserve Bank," he forecast.
House price growth, although remaining positive in most capitals through 2017, would likely track in a narrow range of up to 5 percent annually for the top performers, Dr Wilson tipped.
"The Darwin and Perth markets were set to bottom out in 2017, following a lengthy period of weak activity with prices at three year lows," Dr Wilson forecast.
He tipped that unit markets would continue to be influenced by significant levels of new apartments, acting to push supply ahead of demand.
The Sydney unit market was forecast to remain strong, due to a chronic undersupply of units and solid demand, holding prices strong. 
<div title="Page 3">
<div>
<div>
<div>
"Record new apartment supply in the Melbourne CBD will continue to outstrip demand, with downward pressure on prices to continue in that submarket," he suggested.
"Strong demand and lack of supply for suburban units, however, will offset the weaker CBD market.
"This means that overall Melbourne unit prices growth is likely to remain positive over the year," he forecast.
(An earlier version mispelt Melina Cruickshank as Melinda) 
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Economist Dr Andrew Wilson formally resigns from Domain Group

<html><body>
Confident sellers have flooded the Melbourne and Sydney auction markets this Saturday.
There are record year end weekend offerings.
Auctions are scheduled up to 5pm including <a href="https://www.realestate.com.au/property-house-nsw-turramurra-124210482" target="_blank">Chasecote</a>, (above) the 1907 home at Turramurra which has been listed through Chadwick Real Estate. Nearly 1100 homes are set to go under the hammer this weekend, which is below last weekend’s 1372 auctions but well ahead of the 717 auctioned over the same weekend last year in Melbourne.
Domain says Melbourne has listed 3606 weekend auctions over December which is ahead of the 3558 listed last December.
It is the highest number of December auctions on record for the local market. Melbourne’s western suburbs are yet again tops for auction activity this Saturday with 231 homes listed to go under the hammer.
Next highest is the north east with 178 auctions followed by the north 131, the outer east 120, the inner city 105, the inner south 96, the inner east 86 and the south east with 76 auctions listed. The most popular suburb for auctions at the weekend will again be Glen Waverley, with 21, closely followed by Epping 20, Richmond, St Albans and Bundoora each with 17.
Mount Waverley and Richmond each with 15 and Pascoe Vale with 14 auctions listed on Saturday. Last Saturday’s result was the highest for nearly two months and only the third time the local clearance rate has exceeded 80 percent all year, Dr Andrew Wilson, the Domain Group’s chief economist said.
Nearly 700 homes will go under the hammer in Sydney on Saturday which will be lower than last weekend’s 908 auctions but more than double the 320 auctioned over the same weekend last year.
Sydney has listed 2464 weekend auctions over December which is well ahead of the 1936 listed last December and the highest number of December auctions on record for the local market.
</body></html>

jonathanchancellor-7SQnKwU6yx

Record auction rush in last minute December offerings in Melbourne and Sydney

<html><body>
Low interest rates and confidence built through growth in the stock market have senior economist for Australian Property Monitors, Andrew Wilson, predicting an uptick. He believes that the lower north shore, northern beaches and city east are following the boom seen in the lower and middle markets in Sydney.
Already, over the March quarter, APM’s figures recorded 8% growth in the prestige market, compared to the western suburbs’ 3.9%.
He revealed, at the second annual LJ Hooker Mosman Investment Seminar, that the middle and lower ends are tampering off, however the lower north shore is firing up.
“Current prestige markets are definitely not as advanced in the price cycle as previous highs in 2009 and 2010, there is still some way for that market to reach the top,” he said.
In fact, he believes that by the end of 2014, the lower north shore will have seen 10% in growth.
“There is no stopping the prestige property market at the moment, there is still a lot of positive energy buzzing around with reports of the highest price growth since 2003,” he told seminar attendees.
“This positive atmosphere has worked as a mindset shift for possible buyers and sellers in that market, rather than an underpinning driver.”
LJ Hooker Mosman director Bernard Ryan said that he is seeing properties over $1.8 million transacting faster.
“Investors and upgraders have been honing in on the lower north shore since interest rates started trending down in November 2011, but activity really gathered pace in the last year,” Ryan said.
“We’ve always had a strong contingent of locally-based clients, but interstate-based and overseas investors have increased their presence recently.”
Areas for potential growth:
<ul>
<li>
<a href="/news">Mosman</a> 
</li>
<li>
<a href="/news">Cremorne</a> 
</li>
<li>
<a href="/news">Neutral Bay</a> 
</li>
<li>
<a href="/news">Kirribilli</a> 
</li>
<li>
<a href="/news">Milsons Point</a> 
</li>
<li><a href="/news">Lavender Bay</a></li>
</ul>
Source: LJ Hooker Mosman
</body></html>

jduke-EHk3XBmHkn

APM's Andrew Wilson predicts 10% growth for Sydney prestige market

<html><body>
Sydney and Melbourne have recorded record auction results for the autumn period, ahead of an expected <a href="https://www.smartcompany.com.au/finance/investment/41315-pre-easter-auctions-rush-means-falling-clearance-rates-and-buyers-spoilt-for-choice" target="_blank">wind-down over the Easter break</a>.
Australian Property Monitors senior economist Andrew Wilson told SmartCompany buyers and sellers in both Sydney and Melbourne should be pleased with the weekend’s results, with clearance rates up almost 5% in Sydney to 78.1%, and up 0.6% in Melbourne to 72.3%.
Wilson said Sydney’s clearance rate has now dipped below 80%, after more than two months above the level.
“This is no real surprise given the high number of listings,” Wilson says. The weekend’s results are based on 1,111 listings, 697 auctions and 581 properties sold, compared to 821 listings, 709 auctions and 570 sales last week. Nevertheless, Wilson says it could be sign of a slight downwards trend in the Sydney market.
The most expensive property sold in Sydney was a four bedroom house in Lane Cove on Sydney’s lower north shore, which was sold for $4.9 million. The most affordable property was a studio apartment in Surry Hills, which fetched $220,000 at auction.
In Melbourne, 1,277 properties were listed, 944 auctions held and 686 properties sold. This compares to 1,007 listings, 898 auctions and 654 properties sold the week before. “It was the best result in a month,” says Wilson.
A three-bedroom house in Toorak was the most expensive property sold at $2.7 million, while a house of the same size in the western suburb of Kurunjang was the most affordable at $235,000.
However, Melbourne may also be following in Sydney’s footsteps, with Wilson saying there are a number of negative aspects of Victoria’s economy that are acting as a drag on the capital city’s clearance rate, which has been falling since the Labour Day weekend in early March.
Wilson said the weekend’s results will give the market “pause for reflection over the next two weeks before it all starts up again”, although the market typically quietens over the winter months.
Click here for the full list of APM's 12 April weekend auction results for Sydney, Melbourne, Brisbane and Adelaide.
This article first appeared on <a href="https://www.smartcompany.com.au/" target="_blank">SmartCompany</a>.
</body></html>

jake-cSmGT7VXVf

Bumper property pre-Easter weekend with record auction results

<html><body>
Across the March quarter, the national median weekly asking rent for houses increased by a subtle 0.2%, with unit rents increasing by 1.7%, however the picture is mixed across the country, explains Australian Property Monitors’ latest statistics.
<img src="/images/2014/04/10/apm-chart-april-10-one.gif" alt="">
<img src="/images/2014/04/10/apm-chart-april-10-two.gif" alt=""> 
Source: Australian Property Monitors 
SYDNEY
National housing rents for the year ending March saw Sydney retain strength as the most expensive major capital for tenants, with median weekly asking house rent over the March quarter sitting at $500, and units at $490, explains APM’s senior economist, Andrew Wilson. As discussed yesterday, Sydney’s expensive rental market will come as no surprise to anyone looking to live there.
Despite this, Sydney’s house rents have remained flat for 12 months, “indicating underlying affordability barriers constraining rental growth,” said Wilson.
Sydney unit rents, however, continue to rise driven by the affordability advantages of units over houses and the growing preferences for apartment living and inner–city locations. Based on current trends, unit rents will be on parity with house rents sooner rather than later in 2014.”
MELBOURNE
Pointing to the recent rend of rising house rents, Melbourne has seen some of the best performance of all the capital cities – up 4.1% over the year, with the March quarter seeing a 1.3% increase.
“Melbourne unit rents have staged a revival after a lengthy period of subdued growth,” he said.
“Despite March quarter increases in rents, Melbourne remains relatively affordable for tenants with only Adelaide recording lower rents of all the mainland capitals.”
BRISBANE
However, the picture differs when looking at Brisbane, where the market was weaker over the March quarter, with house rents staying flat and unit rents actually dropping by 1.3%.
“Over the year ending March 2014, no growth was recorded in unit rents, however, house rents rose by +2.6%. Significant numbers of new inner city apartments continue to place downward pressure on rental growth,” said Wilson of the yearly statistics.
Note: Wilson explained that in Sydney, Melbourne and Brisbane, a low number of first home buyers could be responsible for creating some demand-based rental pressure, however increased supply with investor activity and new apartment building should impact rental growth in these cities.
Rental yields also have some interesting implications across Brisbane, Melbourne and Sydney. In the latter two capital cities, yields remain the lowest of all capitals for units and houses, however Melbourne appears to see some increases in yield suggesting weakness in price growth for inner city apartments. Brisbane, however, provides the highest gross rental yield of all the major capitals.
ADELAIDE
Currently, Adelaide is the most affordable of all mainland capitals, with subdued rental growth over the March quarter. In fact, over this period house rents fell by 1.4% and units remained flat.
PERTH
In Perth, the quarter recorded flat rents for house and units, as the “market continues to adjust after the unsustainably strong rental growth seen in the first half of 2013,” he said.
“House rents in Perth are now down by -2.0% over the year with no growth in unit rents,” said Wilson.
DARWIN
Despite flat rents for houses and unitsover the March quarter, a 7% increase over the year ending March was recorded.
HOBART, CANBERRA
Flat or falling rents for houses and units were recorded over the March quarter.
 <img src="/images/2014/04/10/apm-chart-april-10-three.gif" alt="">
<img src="/images/2014/04/10/apm-chart-april-10-four.gif" alt="">
Source: Australian Property Monitors
Further mixed results for all capital cities are expected through 2014, as price growth moderates in most capitals, explained Wilson.
“Choppy capital city rental market performances over the March quarter reflects, to some degree, the uplift in home buying activity which was driven by sharp improvements in housing affordability over the past year,” he said.
“With prices growth likely to accelerate this year, expect increased house investor activity although yields may weaken.”
</body></html>

Melbourne and Sydney show strength, as rest of the country’s rents dip

<html><body>
Auction clearance rates tracked steadily on the weekend, but were just a warm-up to a bumper amount of sales expected on Super Saturday next weekend.
The Saturday before Easter weekend is traditionally a <a href="https://www.smartcompany.com.au/finance/investment/35605-harry-dent-says-the-australian-property-bubble-will-burst-is-he-right&amp;sa=U&amp;ei=ZupBU87RIYbgkAWX8oGwCw&amp;ved=0CAcQFjAB&amp;client=internal-uds-cse&amp;usg=AFQjCNHpv9ysK2mkkdpeu--nWKWEoK0BtQ" target="_blank">big weekend for auctions</a>, ahead of the quieter winter period.
Australian Property Monitors senior economist Andrew Wilson says next weekend will see record auctions in Sydney, with around 1,100 expected, while in Melbourne there will be around 1,200 auctions.
“It is the end of the autumn selling season and the point where you get the pre-holiday rush,” Wilson says.
“It will be a big weekend for the Sydney market… it is definitely a test for whether the high listing numbers mean there are enough buyers.”
On the weekend, Melbourne had 1,016 properties listed, with 802 auctions and 580 sold. The clearance rate of 71.8% was slightly up from last week’s result of 69.8%.
The median house price in Melbourne was $791,000, while the median unit price was $511,000. The most expensive property was a four bedroom Camberwell home for $3,935,000.
Wilson says it was a very predictable weekend of results for Melbourne, not deviating from recent trends.
“The trend has been down over the past month, since the Labour Day weekend, and the clearance rate has flattened a little with high numbers of properties listed,” Wilson says.
He says Melbourne’s outer eastern suburbs continued to perform well on the weekend, holding up the market with clearance rates over 80%.
In Sydney, there were 838 properties listed, with 494 auctions and 425 properties sold, with a clearance of 80.6%. This was slightly up from last week’s clearance of 75.9%.
The median house price in Sydney was $1.12 million, while the median unit price was $706,500. The most expensive property in Sydney was <a href="/news/kensington-suburb-record-price-from-macquarie-banker-sale-of-peter-dunkley-built-trophy-home">a five bedroom house in Kensington</a>, for $3,775,000. Sydney’s most affordable property was a studio apartment in Auburn, sold for $156,000.
In Adelaide, the auction clearance rate was 80%, while in Brisbane it was 50.8%.
You can find APM's list of weekend auction results for Sydney, Melbourne, Brisbane and Adelaide here.
This article first appeared on <a href="https://www.SmartCompany.com.au" target="_blank">SmartCompany</a>.
</body></html>

Andrew Wilson

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Andrew Wilson

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News