<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

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

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

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

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

Andrew Wilson

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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.

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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

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<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.
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<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>
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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.
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"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. 
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"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) 
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j.ballantyne1990-6AQqhLzZaK

Economist Dr Andrew Wilson formally resigns from Domain Group

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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.
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jonathanchancellor-7SQnKwU6yx

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

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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
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jduke-EHk3XBmHkn

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

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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>.
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jake-cSmGT7VXVf

Bumper property pre-Easter weekend with record auction results

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

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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>.
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Andrew Wilson

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