Brunswick’s civic heart continues to consolidate around the Merri-bek Arts and Culture Precinct, where a growing cluster of cultural institutions, recreation facilities, and public infrastructure has created one of the inner north’s most defined community hubs.&nbsp;

Within this evolving precinct, <a href="https://www.apartments.com.au/new-apartments/saxon-street-by-milieu-brunswick-31-saxon-street-brunswick-vic-3056">Saxon Street by Milieu</a> introduces new housing directly alongside the civic anchors that shape daily life in the suburb.

At 31 Saxon Street, the project sits immediately beside Brunswick Baths and within moments of Brunswick Library and Town Hall, longstanding institutions that support both community services and everyday amenity.&nbsp;

[smartcode_project:default project_id=136434 project_image_fid=348840]

Next door, the newly delivered Balam Balam Place arts precinct has emerged as a central piece of Merri-bek Council’s cultural strategy, bringing together creative studios, exhibition spaces, maternal and child health services, and community programming in a purpose-built civic facility. Together, these destinations have reinforced the surrounding blocks as a focal point for public life in Brunswick.

This part of <a href="https://www.apartments.com.au/developments/brunswick-vic-3056">Brunswick</a> forms a key pocket within the suburb’s designated Major Activity Centre, where long-term planning has prioritised walkability, civic investment, and increased housing supply close to transport and services. The surrounding street network reflects that strategy, with compact blocks, established retail corridors and active transport links supporting a lifestyle that is largely navigable on foot.

Within a few minutes’ walk, Sydney Road delivers one of Melbourne’s most recognisable streets, known for its long-running mix of independent retailers, international dining venues and everyday convenience. Tram routes along Sydney Road provide frequent connections south toward the CBD and north through Brunswick and Coburg, while Jewell Station on the Upfield line sits within roughly a ten-minute walk, offering direct train access into the city.

[smartcode_project:default project_id=136434 project_image_fid=348839]

Active transport also plays a significant role locally. The nearby Upfield Bike Path forms a key north–south cycling corridor linking Brunswick through Parkville and into the central city, reinforcing the area’s reputation as one of Melbourne’s most accessible inner-urban neighbourhoods for cyclists and pedestrians alike.

The surrounding civic cluster extends beyond cultural infrastructure. Siteworks, a nearby creative hub supporting artists and community organisations, adds to the concentration of cultural activity in the immediate area. Educational institutions such as Brunswick North Primary School, Brunswick Secondary College and RMIT’s Brunswick campus are also within easy reach, contributing to the suburb’s diverse resident base spanning families, students and professionals.&nbsp;

[smartcode_project:default project_id=136434 project_image_fid=348841]

Designed by <a href="https://www.apartments.com.au/architects/jackson-clements-burrows-architects">Jackson Clements Burrows Architects</a> in collaboration with <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> and landscape architects <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, the nine-level building has been shaped to respond to the surrounding streetscape, with lower levels aligning to the street and upper storeys stepping back to soften its scale and improve solar access.&nbsp;

Curved balcony forms reference nearby heritage architecture, while the development’s public realm improvements include a widened footpath along Saxon Street to strengthen pedestrian connections between the precinct’s civic sites.

Sustainability also underpins the project’s approach. The building is designed to operate entirely on electric infrastructure supported by rooftop solar, with an average 7.5-star NatHERS energy rating and EV-charging readiness across the development. Shared resident amenities will include a landscaped rooftop terrace with barbecue and covered dining areas intended to encourage informal interaction between residents.

Saxon Street marks developer Milieu's fifth project in Brunswick and continues its focus on design-led infill housing across Melbourne’s inner suburbs.&nbsp;

Construction has commenced through reputable builder Manresa, who will complete the project in 2027.

[smartcode_project_cta:default project_id=136434]

Joel Robinson

Saxon Street by Milieu connects residents to Brunswick’s cultural and civic core

Within <a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a>, <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>&nbsp;takes a different approach to larger residences, moving away from the constraints of a single level.

In Grand Residence 3.05, known as the Lustre, plays out across two levels, with a mezzanine configuration that is uncommon in apartment living.

Lustre is a four-bathroom residence where the layout creates a clear distinction between shared and private zones, with uninterrupted views toward the Dandenong Ranges extending the sense of openness from the main living areas.

Entry is to the primary living level, where the kitchen, dining, and living areas are arranged as one continuous space. Timber flooring runs throughout, with a fireplace set within the living zone. Full-height glazing brings in natural light, supported by double glazing that improves thermal performance.

[smartcode_project:default project_id=342 project_image_fid=357506]

The kitchen is configured as both a working and social space. A large island bench provides seating, while a walk-in pantry extends storage beyond typical apartment expectations.

Gaggenau appliances, including a 900mm gas cooktop and 600mm oven, are integrated into a layout that connects directly to the adjacent dining and living areas, and outward to the terrace. This balcony includes a built-in BBQ, reinforcing the apartment’s capacity to accommodate larger gatherings without compromising internal space.

A dedicated laundry room, powder room, and a wine cellar area sit discreetly off the main living zone, ensuring that functional requirements are resolved without encroaching on primary living areas. The master suite is also located on this level, designed as a retreat with a walk-through wardrobe and an ensuite that includes double vanities, a bath, and a dedicated dressing table.

[smartcode_project:default project_id=342 project_image_fid=357508]

The mezzanine level introduces a second layer of living, rather than simply additional bedrooms. Two large bedrooms with built-in robes are positioned alongside a central bathroom, while a secondary lounge and study area create a self-contained zone suited to children, guests, or extended family. A large storage room further supports long-term usability, addressing a common shortfall in apartment design.

This separation of levels is central to how the residence functions day-to-day. It allows the lower level to operate as the primary entertaining and living space, while the upper level provides privacy and flexibility. The result is closer in feel to a townhouse or standalone home, but with the benefits of apartment living, security, and low maintenance.

[smartcode_project:default project_id=342 project_image_fid=364553]

Candela is close to 80 per cent complete, with Ironside delivering construction ahead of its expected October 2026 completion. The development comprises 58 residences, with a strong owner-occupier profile and a mix of one to four-bedroom apartments and loft-style townhouses.

Candela has exclusive access to private amenities, including a residential lounge and rooftop terrace. A charming café and a lifestyle wellness centre are located on the ground level, designed to foster community connection and extend the living experience beyond individual apartments without competing with the scale of homes like Lustre.

Candela, positioned in the heart of Ivanhoe Village, reinforces the practicality of the address. With a Walk Score of 90, residents are within immediate reach of cafés, retail, parklands, and Ivanhoe Station, while also benefiting from proximity to established schools and healthcare services.

[smartcode_project_cta:default project_id=342]

Inside Lustre: Grand Residence 3.05 at Candela Ivanhoe

<a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a>’s <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a> is being shaped around a simple but increasingly rare premise in apartment development: that the built environment should actively support residents’ wellbeing.&nbsp;

Located on the former ABC Studios site on Gordon Street in Melbourne’s south-east, the new neighbourhood sits on an expansive 11,740 sqm site neighbouring the heritage-listed Rippon Lea Estate, whose gardens date back more than 140 years.

Rather than positioning wellness as an add-on amenity, the development integrates it into the physical planning of the site. Architecture by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> is arranged across six low-rise buildings set within extensive landscaping designed by <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, with more than 40 per cent of the land dedicated to gardens and green space. Walking trails, pocket gardens, and mature trees are threaded between buildings, creating a network of green corridors that encourage residents to move through the precinct on foot and spend more time outdoors.

[smartcode_project:default project_id=136535 project_image_fid=288420]

Milieu has intentionally framed these gardens as an extension of the neighbouring Rippon Lea Estate. More than 16,000 new plants will be introduced across the site, with species carefully selected to protect and complement the area’s ecological significance. The approach focuses on strengthening existing environmental conditions while establishing new habitats that support native wildlife, reinforcing the role of the landscape as both an active ecosystem and a defining element of daily life.

A private resident gate will provide direct access to the historic grounds during opening hours, allowing residents to move seamlessly between the development’s landscaped gardens and the estate’s expansive lawns, lakes, and mature trees. The project’s gardens will also be maintained by the same gardeners responsible for Rippon Lea, reinforcing the visual and ecological continuity between the two landscapes.

Complementing the landscape is a dedicated wellness hub designed to support everyday health and recovery. Residents will have access to a gym alongside yoga and Pilates studios, while mineral pools and infrared saunas provide spaces for relaxation and restorative wellbeing. Shared lounges, workshop spaces, and pet care facilities expand the concept of wellness beyond fitness, creating opportunities for social connection and community interaction within the precinct.

Environmental performance is another key component of the project’s wellbeing focus. Elsternwick Gardens will be entirely fossil-fuel-free, with homes designed to operate on renewable electricity rather than gas. Passive design strategies, including cross-flow ventilation, high-performance insulation, and thermally broken double glazing, are intended to maintain comfortable indoor temperatures while reducing energy demand. Solar photovoltaic systems will power common building services, while rainwater harvesting will help irrigate the extensive landscaping across the site.

[smartcode_project:default project_id=136535 project_image_fid=361030]

Milieu Founder and Managing Director Michael McCormack says the scale and setting of the project allowed the team to take a different approach to urban apartment living.

“This site represents a once-in-a-lifetime opportunity to build something truly special,” McCormack says.

“Through that process, we arrived at a design that centres on a fully realised natural landscape – a series of private, interconnected gardens that encircle the homes and extend seamlessly from Rippon Lea Estate.”

Elsternwick Gardens will comprise three residential offerings, Gordon Place, Ripponlea Terrace, and The Garden Pavilion, each designed for owner-occupiers and shaped around high-quality interior design by Woods Bagot, K.P.D.O., and Flack Studio. The first stage, Gordon Place, includes one-, two-, and three-bedroom apartments designed with a strong focus on indoor-outdoor living and sustainability.

[smartcode_project:default project_id=136535 project_image_fid=288412]

Milieu recently appointed <a href="https://www.apartments.com.au/builders/brady-constructions">Brady Constructions</a> to deliver the project, marking a key milestone for the development. The appointment follows the demolition of the former studio buildings on the Gordon Street site, with construction progressing toward the delivery of the nature-led community.

Situated between the established villages of Elsternwick and Ripponlea, the development balances its garden setting with strong urban connectivity. Residents will be within walking distance of cafés, restaurants, and local retail, while nearby train and tram connections provide quick access to Melbourne’s CBD and the beaches of Elwood and St Kilda.

With construction underway and the first residents expected to move in by early 2027, Elsternwick Gardens represents a growing shift in apartment development toward environments that prioritise wellbeing as much as density or location. By placing landscape, sustainability, and shared spaces at the centre of the design, Milieu is positioning the project as a residential neighbourhood where wellness is not just promoted, but built into the structure of everyday life.

[smartcode_project_cta:default project_id=136535]

Elsternwick Gardens' wellness-first design strategy

Brisbane-based developer <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a> has made a striking debut on the Gold Coast, officially unveiling its $250 million COMO development in Varsity Lakes, a lifestyle-driven residential project anchored by an extensive rooftop wellness and activity precinct.

Having recently launched to market, construction has already been fast-tracked by <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a>, ensuring momentum continues on what is set to become a landmark residential address for the growing Varsity Lakes community.

Located at 22 Lake Street, Varsity Lakes, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels, comprising one-, two- and three-bedroom residences designed for modern living. However, it is the project’s rooftop amenity offering that sets COMO apart.

[smartcode_project:default project_id=135546 project_image_fid=363510]

Designed as a dedicated wellness and recreation hub, the rooftop will feature a 25-metre lap pool, fully equipped gymnasium, and multiple pickleball and paddleball courts - amenities rarely seen in boutique apartment projects.

Residents will also have access to a sauna and plunge baths, while landscaped gardens and relaxation zones will provide tranquil spaces overlooking sweeping panoramic views across the Gold Coast skyline.

The rooftop precinct has been designed to function as the social and wellness heart of the development, encouraging residents to embrace an active, balanced lifestyle within their own building.

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363512]

Red &amp; Co director David Laverty said the amenity offering was central to the project’s design from the outset.

“Amenities were at the forefront of our decisions,” Laverty said.

“Buyers today are looking for more than just an apartment - they want a lifestyle that promotes health, connection and balance.

“The rooftop at COMO has been designed to be the epicentre of that lifestyle, with a suite of wellness and recreation facilities that are quite unique for a boutique development of this scale.”

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363514]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the residences prioritise liveability, featuring spacious layouts, 2.7-metre ceilings and high-quality finishes throughout.

The development sits beside Bond University, placing residents within walking distance of education, retail and dining options within the vibrant Varsity Lakes precinct, including Robina Town Centre, Varsity Lakes Train Station and a range of leading schools.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Laverty said the location was a key driver behind Red &amp; Co’s decision to bring the project to the Gold Coast.

“<a href="https://www.apartments.com.au/developments/varsity-lakes-qld-4227">Varsity Lakes</a> was a clear choice for us to invest in as it’s a lifestyle hub that seamlessly blends lakeside living with urbanity,” he said.&nbsp;

“Como will capitalize on this great location, delivering a project that not only creates premium homes, but a lifestyle defined by community, wellbeing, and connectivity.”

Red &amp; Co has delivered more than 500 apartments and townhouses across 26 projects in Brisbane in recent years, with COMO marking the company’s first major Gold Coast development.

[smartcode_project_cta:default project_id=135546]

Red & Co unveils amenity-rich Como development in Varsity Lakes

Gold Coast developer&nbsp;<a href="https://www.apartments.com.au/developers/big-projects">Big Projects</a> has secured approval for its second Mermaid Beach project.

The developer, currently selling <a href="https://www.apartments.com.au/new-apartments/the-frederick-mermaid-beach-2265-gold-coast-highway-mermaid-beach-qld-4218">The Frederick in Nobby Beach</a>, has secured approval for its next project just 1.5 kilomnetres up the road.

The new development, dubbed&nbsp;<a href="https://www.apartments.com.au/new-apartments/glenelg-residences-2462-2472-gold-coast-highway-mermaid-beach-qld-4218">Glenelg Residences</a>, has been designed by BDA Architecture and&nbsp;will have just under 100 apartments across an 11-storey building&nbsp;at 2462–2472 Gold Coast Highway, on the corner of Glenelg Avenue just under 300m from the future Mermaid Beach Light Rail stop.

The apartments, a mix of two- and three-bedrooms, will sit above a retail-focused ground plane and under extensive rooftop resident amenities.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screen%20Shot%202024-06-11%20at%209.55.04%20am.png?VersionId=z6NV4izeuvhBSSVlY6vK6TPO1LxrFeaG" />

BDA said in its planning submission that the project is intended to support the area’s transition toward higher-density, mixed-use living. “This project offers the opportunity to generate appropriate higher-intensity development within the future Light Rail corridor of <a href="https://www.apartments.com.au/developments/mermaid-beach-qld-4218">Mermaid Beach</a>,” the submission noted.

At ground level, Glenelg Residences will include eight retail tenancies designed to activate the street frontage, complemented by a basement bar offering an additional hospitality element. Above, residents will have access to a rooftop amenity deck featuring an infinity pool, hot and cold plunge spas, day beds, and barbecue facilities.

The architectural approach adopts a restrained material palette of brick, textured concrete, and integrated landscaping, with cantilevered concrete frames and cascading planting intended to soften the built form. BDA described the design as aiming to create “a memorable sculptural mid-rise mixed-use building” that responds to both its coastal setting and urban context.

<img alt="Exclusive: Big Projects plot Mermaid Beach apartment development, Glenelg Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screen%20Shot%202024-06-11%20at%209.55.45%20am.png?VersionId=cpjIVBqcT_sujmo2UMWkVyLcQ7WGJHaQ" />

The approval comes as the City of Gold Coast continues to plan for significant population growth, with regional targets requiring more than 100,000 new high-density dwellings by 2046.

<section data-scroll-anchor="false" data-testid="conversation-turn-36" data-turn="assistant" data-turn-id="request-WEB:55d7c6ac-8e6d-4881-ad49-0ed9bf66d1cc-17" dir="auto">
Big Projects, led by Matthew and John Barrett, is part of a growing cohort of developers that deliver construction in-house, providing a high level of confidence to prospective purchasers.
</section>

[smartcode_project_cta:default project_id=150260]

Big Projects secures approval for Glenelg Residences in Mermaid Beach

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