A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

Joel Robinson

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.

In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.

The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.

The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments

The site currently comprises three commercial properties.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" />

The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.

The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" />

A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.

Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.

Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.

First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

<a href="https://www.apartments.com.au/new-apartments/otium-parkdale-123-125-como-parade-east-parkdale-vic-3195">Otium Parkdale</a>, the 13-residence boutique development by&nbsp;<a href="https://www.apartments.com.au/developers/huxtable-property">Huxtable Property</a>, has entered its final stages of delivery, with completion expected within the coming month and more than half of the residences sold.

The Como Parade East project is nearing the finish line at a time when opportunities to purchase new apartments in <a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> remain exceptionally limited. Fewer than 10 per cent of dwellings in the bayside suburb are apartments, making developments like Otium a relatively rare addition to a market traditionally dominated by detached housing.

[smartcode_project:default project_id=134974 project_image_fid=5427]

The three-level development comprises 13 residences, including ten two-bedroom apartments and three larger three-bedroom homes, all positioned above a secure basement car park.

Designed by <a href="https://www.apartments.com.au/architects/almeida-architects">Almeida Architects</a> with a strong connection to its coastal surroundings, Otium combines red brick, exposed concrete and dark metal detailing with integrated landscaping and greenery. Expansive glazing, generous balconies and terraces have been incorporated throughout the design to maximise natural light and reinforce indoor-outdoor living.

Inside, the residences feature engineered European oak flooring, natural and reconstituted stone benchtops, Bosch kitchen appliances, ducted heating and cooling, lift access and secure entry systems. The larger three-bedroom residences on the upper level have been designed with house-like proportions, while the two-bedroom apartments prioritise functionality, flexibility and low-maintenance living.

[smartcode_project:default project_id=134974 project_image_fid=5421]

The project is now in its final stages, with <a href="https://www.apartments.com.au/builders/labco">Labco</a> completing the remaining landscaping and external finishing works following the completion of the residences' interiors.

Otium's location within the heart of Parkdale continues to underpin its appeal. Residents will be just steps from local cafés, restaurants, shops and the newly elevated Parkdale Station, while the beach is less than a kilometre away.

With the project tracking ahead of schedule, buyers can currently secure a residence with a five per cent deposit and benefit from settlement terms of up to eight months. The advanced stage of construction also provides buyers with the opportunity to walk through the near-complete residences and experience the quality and finishes firsthand ahead of completion.

[smartcode_project_cta:default project_id=134974]

Otium Parkdale enters final month before completion as rare apartment opportunity nears sellout

A new boutique apartment development is entering the market in <a href="https://www.apartments.com.au/developments/chermside-qld-4032">Chermside</a>, with Brisbane-based developer <a href="https://www.apartments.com.au/developers/ausdev">Ausdev</a> bringing 33 residences to a well-connected pocket of Brisbane's north.

<a href="https://www.apartments.com.au/new-apartments/parkdrive-apartments-chermside-25-sammells-drive-chermside-qld-4032">Parkdrive Apartments</a>, at 25 Sammells Drive, will comprise a mix of one- and two-bedroom residences positioned within walking distance of Westfield Chermside, The Prince Charles Hospital, and Bradbury Park.

Established in 1989, Ausdev has a long-standing presence across both development and construction, with Parkdrive Apartments representing its latest residential project in Brisbane's northern suburbs.

[smartcode_project:default project_id=152125 project_image_fid=363778]

The development has been designed around open-plan living and natural light, with residences featuring stone benchtops, timber cabinetry, BOSCH appliances, and private balconies that extend the living areas outdoors.

Kitchens are positioned as the centrepiece of the homes, incorporating natural material palettes and integrated appliances, while bathrooms have been designed with a focus on functionality and understated finishes.

Residents will have access to a communal barbecue and entertaining area on Level 3, providing shared outdoor space within the development. Secure parking and lift access are also incorporated into the building.

The project will deliver a limited collection of 33 apartments, with one-bedroom residences priced from $749,000.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Beyond the building itself, the location places residents within easy reach of several of Chermside's key amenities. Bradbury Park is around 350 metres away, while Westfield Chermside is approximately 1.3 kilometres from the site. The Prince Charles Hospital is located within 750 metres, and the Chermside Bus Interchange is around 1.5 kilometres away, providing connections across Brisbane.

Parkdrive Apartments adds to the growing residential pipeline in Chermside, a suburb that continues to evolve as a major retail, healthcare, and transport hub for Brisbane's north.

[smartcode_project_cta:default project_id=152125]

Ausdev introduces boutique Parkdrive Apartments to Chermside's growing centre

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

[smartcode_project_cta:default project_id=150499]

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

Apartment Market

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<img src="https://counter.theconversation.edu.au/content/77867/count.gif?distributor=republish-lightbox-advanced" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Australia’s capital cities are getting more and more units, that are largely concentrated and come with a hefty price tag, a new report shows. And while these areas also have lots of jobs, the high price for houses means many on low incomes won’t be able to access that employment.
Between 2006 and 2014, more than 50 percent of new units were built in the 20 percent of local government areas with the highest number of jobs. 
When compared internationally, it would seem that Australian housing supply has not been as weak as is widely believed. However, the report points to some stark differences in housing supply patterns, emerging across Australia’s capital cities. 
In Sydney, Perth and Brisbane, new housing supply has lagged slightly behind population growth. In the other capital cities, housing supply actually outpaced population growth between 2006 and 2014. 
<h2>Housing supply and house prices</h2>
The issue of housing affordability has traditionally been pitched in terms of supply failing to keep pace with growing demand, and house prices rising in response to the imbalance.
<a href="https://www.propertyobserver.com.au/images/2017/05/18/Screen%20Shot%202017-05-18%20at%208.59.22%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/05/18/Screen%20Shot%202017-05-18%20at%208.59.22%20AM.png" alt="">
Yet, house price inflation has surged even in metropolitan areas where housing supply exceeds population growth. The evidence suggests a complex relationship between supply, population growth and price that is shaped by both supply and demand-side factors. 
As prices and rents rise, housing costs continue to eat up larger shares of household incomes, particularly in moderate and low-income groups. 
The study shows 80 percent of new unit approvals were located in the top 20 percent of local government areas with the highest unit prices. This is while 80 percent of new house approvals were in the top 40 percent of local government areas with the highest house prices. 
There is very little new supply in areas where house prices are lower, where households on low to moderate incomes can afford to live. 
<h2>Affordable housing, cities and productivity</h2>
The lack of affordable housing in the vicinity of employment centres can pose threats to the productivity of our cities. If suburban residents are forced into longer commutes to access employment in the CBD, it can reduce productivity.
A potential consequence is that low-paid workers are deterred from seeking jobs in CBDs. This would then cause certain skills to become unavailable, and businesses to be less efficient, because they cannot quickly fill vacancies with suitable applicants. 
Our data shows new units have grown by 30 percent in areas which have the most jobs, between 2005-06 and 2013-14. In contrast to this new units have only grown by 2.5 percent in areas with less jobs. 
It would appear that unit approvals are concentrated in areas with abundant job opportunities. So productivity could improve, as congestion eases, and commute times lowered, if (and it’s a big if) these dwellings were affordable to those wishing to take advantage of these job opportunities.
New housing supply has grown at a pace that matches population growth rates, at the national level. However, there is plenty of variation across the capital cities. 
The strongest growth in the number of units has been in the territories (though this is from a low base), followed by Melbourne and Brisbane. However, the strongest growth in the number of houses has been in Perth, at around 22 percent. 
Sydney has experienced much lower growth in its number of houses, at less than 10 percent. This reflects the very different patterns of development in the two cities. 
In Perth, Brisbane and Sydney, increases in the supply of housing didn’t keep pace with population growth during, between 2006 and 2014. However, the drivers of this shortfall are varied. 
Perth’s population grew very strongly over the period that we studied. The roughly one-quarter increase in population would stretch the capacity of most housing construction sectors. 
Click to enlarge
<img src="https://www.urban.com.au/images/2017/05/18/Screen%20Shot%202017-05-18%20at%209.00.19%20AM.png" alt="">
However, even though Sydney’s population growth (at 14 percent) is below the average across all capital cities, its housing supply failed to match this growth. These outcomes highlight the different demand and supply side factors operating across states. 
We currently have a national housing policy narrative that is dominated by a consensus view that higher levels of housing supply are the solution to housing affordability problems. While increased supply will always help take steam out of pressured markets, our study suggests a more nuanced approach is needed to the supply side, while not ignoring the demand side pressures. 
It’s important that we identify those barriers to expanding affordable housing supply that have been impeded in the majority of our cities, especially for low income households.
<a href="https://theconversation.com/profiles/rachel-ong-113482" target="_blank">Rachel Ong</a> is deputy director, Bankwest Curtin Economics Centre, Curtin University.
<a href="https://theconversation.com/profiles/christopher-phelps-378137" target="_blank">Christopher Phelps</a> is research assistant, Curtin University.
<a href="https://theconversation.com/profiles/gavin-wood-113723" target="_blank">Gavin Wood</a> is professor of housing, RMIT University.
<a href="https://theconversation.com/profiles/steven-rowley-201914" target="_blank">Steven Rowley</a> is director, Australian Housing and Urban Research Institute, Curtin Research Centre, Curtin University.
All are authors for The Conversation.
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jchancellor-FAypfDUnLy

Get used to your commute: data confirms houses near jobs are too expensive

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Brisbane apartment builder CMF Projects has called in administrators in what could be early signs of a cooling market
Seeming renforcing earlier warnings by the RBA about an oversupply of apartments, CMF is the biggest collapse after the recent building spree. 
According to the builder's website, it has constructed major projects for residential developers, commercial and retail developers as well as a number of government contracts, the Australian Financial Review reported.
Its residential book shows it has completed medium rise apartment projects including the Mowbray Apartments, ARIA group's AUSTIN Apartments, Kyabra Street Newstead, Artisan South Brisbane and Vine South Brisbane.
The company and its directors Greg Campbell and Cameron Fidler could not be reached when contacted, the AFR reported.
According to ASIC filings, David Clout and Patricia Talty from David Clout and Associates were appointed as administrators on Wednesday.
It is not known why the builder has had administrators appointed, however some builders have been under pressure with high construction costs and a sudden pull back in new apartment project plans.
Apartment approvals slipped to 110,401 for the 12 months to March this year - the lowest since May 2015, when they stood at 109,141 according to the ABS.
In Queensland, apartment approvals fell 29 per cent in the month of March.
The Reserve Bank of Australia had noted of concerns on the apartment market, warning a flood of new apartments could come onto the market in certain areas, pushing down prices and causing heavy losses for developers.
The decline has been driven by tighter financing from banks, stricter rules on both foreign and domestic investors, and rising costs.
Changing fundamentals in the Brisbane market have also seen the city's inner-ring vacancy rate rise to a new high of 4.4 per cent, following a year in which the city saw a record number of new apartments settled.
Growth in vacancy in the March quarter, from 3.6 per cent in the three months to December, reflected supply outstripping demand according to Real Estate Institute of Queensland chief executive Antonia Mercorella.
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jonathanchancellor-7SQnKwU6yx

Brisbane builder CMF Projects goes into administration

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Price growth in Darwin's detached housing market is expected to fall 1.3 percent this year, with apartment values to increase by 1 percent, according to the CoreLogic-Moody’s Analytics Australian Home Value Index Forecast, 2017Q1.
The report said the downturn of the mining industry has pushed values down 11 percent from their peak in 2014. 
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"The recent rebound in commodity prices will support incomes over the short term," it said.
"Apartment values rose in the four consecutive months to January, with growth over the previous year averaging around 8.2 percent.
"Meanwhile, detached-home values fell for 23 consecutive months.
"The trough for home values will likely be reached at the end of this year, but overall mining investment will remain sluggish, so Darwin’s property market—both apartments and detached houses—is unlikely to rise sharply over the coming years. 
"Adding to the state’s difficulties is a rapidly ageing population which reduces the working-age population, meaning the average unemployment rate of 3.8 percent in 2016 obscures issues in the labour market.
"The outlook remains downbeat, as the rise in commodity prices is unlikely to boost investment activity."
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Darwin apartment values to increase 1.3 percent in 2017

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NSW apartment buyers will pay higher prices as the prices for services associated with the NSW LPI rise ahead of the new ownership.
The $2.6 billion sell off was announced yesterday.
The LPI service controls land title registration and creating new lots.
Apartment projects with more than 12 apartments or homes are faced with higher pre-development costs.
“The increases which have been implemented are extreme,” NSW Property Council executive director Jane Fitzgerald recently said advising a 150-lot strata plan used to cost about $22,000 to register.
Under the new fees calculated per lot, it will cost $43,050 — almost a 100 percent increase — because of the $287 per lot fee for each lot.
Other examples include a 565-apartment project in Newcastle under construction by the state’s development arm Urban Growth and listed developer GPT, which will be saddled with an extra $347,320 in costs for pre-­examination lodgement and final lodgement and registration of strata and deposited plans.
Under the new fee structure, the developer will pay $473.50 per lot for pre-examination, and then another $287 flat fee, plus $287 per lot for final lodgement or regis­tration of the plans.
There are also fears that home buyers will be needing to take title insurance to safeguard their purchase under the new structure.
Infrastructure fund manager Hastings Funds Management and pension fund First State Super signed a $2.6 billion deal to operate NSW's land titles and registry business.
 
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j.ballantyne1990-6AQqhLzZaK

NSW LPI paperwork costs rise in advance of $2.6bn sale 

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Melbourne’s property market is tipped to ease in 2018 with the correction hitting harder in the detached housing market rather than apartments.
The CoreLogic-Moody’s Analytics Australian Home Value Index Forecast, 2017Q1 said although the rise of housing supply has been more prolific in apartments—for every house, 1.23 apartments were approved between 2013 and the end of 2016—detached-home values have grown significantly more than unit values.
"House values in the city have increased 47 percent over the past four years, while apartment values have risen a relatively muted 23 percent," it said.
"Home values in Melbourne remain buoyant; prices rose 12.8 percent from January 2016 to January 2017.
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<img src="https://www.urban.com.au/images/2017/04/11/Screen%20Shot%202017-04-11%20at%2010.13.23%20AM.png" alt="">
 
"However, unit prices rose 2.8 percent during the same period. 
"This situation suggests that the coming supply of apartments has already dampened value growth. 
"Apartment values will rise 3.4 percent in 2017, and a period of stagnation will follow through to 2020. 
"Detached-home values are expected to rise 7 percent in 2017, followed by a steady decline through to 2020."
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Melbourne property market correction will hit houses, not apartments: CoreLogic Moody's 

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Australia's robust housing market helped the economy weather the effects from the transition away from mining, according to the CoreLogic-Moody’s Analytics Australian Home Value Index Forecast, 2017Q1.
The report said growth in mining exports should support a housing recovery in Perth and Darwin with potential apartment oversupply in Sydney and Melbourne.
"Sydney and Melbourne are leading the market thanks to their stable local economies, although a large number of apartments completed in those cities could create oversupply issues," it said.
"Housing market strength is prompting the RBA, which lowered the overnight cash rate by 50 basis points in 2016, to keep rates steady.
Although the official monetary policy rate will remain on hold, this does not mean that mortgage rates will also stay low.
"The major banks have increased lending rates out of step with the central bank. Some of this action is being driven by regulatory tightening and will encourage a slowdown in market activity this year and next."
 
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Growth in mining exports should support a housing recovery in Perth, Darwin: Moody's

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The Brisbane apartment market has been self-correcting and unlikely to suffer any great supply-demand imbalance, Urbis have tipped. 
The report comes Greater Brisbane faces an oversupply of 8000 new dwellings this year as scheduled completions outstrip population-driven growth in demand, research group SQM has estimated.
However, figures from planning consultancy Urbis suggested that the number of units under construction in Brisbane was dropping sharply.
The Urbis report shows that only 1812 units are under construction in the CBD across four projects. 
In 2017, some 666 units will complete, with 810 units completing in 2018, and 336 in 2019.
A drop-off in settlements next calendar year would also improve the balance, it said.
"The market will be crying out for new product in 2019. We certainly don't see any oversupply issues in the CBD," developer Consolidated Properties executive chairman Don O'Rorke said. 
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Brisbane apartment market supply-demand imbalance unlikely

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Often referred to as the brown snake, the Brisbane River is home to some of the city’s most prestigious riverfront residences, according to Place Project’s latest report.
Place Advisory’s annual riverfront apartment report has analysed all riverfront apartments that have transacted over the past ten years and they have outlined how the market has performed in comparison to non-riverfront apartments.
<a href="https://www.propertyobserver.com.au/images/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.24.15%20am.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.24.15%20am.jpg" alt="">
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Due to the limited amount of available stock, Brisbane’s riverfront apartment market has seen substantially lower sales volumes in comparison to non-riverfront apartments.
The most recent six month period ending June 2016 saw the riverfront apartment market record 162 transactions, representing just 8.4 percent of all apartment transactions in Inner Brisbane.
This result is in line with the long term ten year average, in which riverfront apartments have represented just 8.7 percent of total sales, portraying its limited nature.
As shown in the ten year apartment sales cycle graph above, the median sale price for an apartment located on the Brisbane River is significantly higher in comparison to non-riverfront apartments.
The most recent six month period ending June 2016 saw riverfront apartments record a median sale price of $763,500.
This is 68% more expensive than non-riverfront apartments, which recorded a median sale price of $455,000 for the same six month period.
Over the past ten years, riverfront apartments have been, on average, 69 percent more expensive than non-riverfront apartments.
The six month period ending June 2008 (pre GFC) saw the largest price difference when apartments on the river were 110 percent more expensive, sitting at a median sale price of $850,000.
<a href="https://www.propertyobserver.com.au/images/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.25.34%20am.jpg" target="_blank">Click to enlarge</a>
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Riverfront apartments in Inner Brisbane have generally achieved higher capital growth than non-riverfront apartments.
As shown in the graph above, riverfront apartments achieved 2.7 percent capital growth during the June 2016 six month period, down from 3.1 percent in the previous six month period, whereas non-riverfront apartments achieved 2.4 percent capital growth.
Apartments located on the Brisbane River, have achieved, on average, 5.7 percent capital growth per annum over the past ten years.
The six month period ending June 2008 saw the riverfront apartment market peak at 11.4 percent, which was then followed by several periods of consistent decline.
The effects of the 2011 floods strongly impacted the riverfront apartment market, which saw capital growth fall to its lowest point in ten years, recording just 1.7 percent growth following this event.
There was however a quick recovery in the following months.
<a href="https://www.propertyobserver.com.au/images/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.26.50%20am.jpg" target="_blank">Click to enlarge</a>
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The map above shows the number of riverfront apartment transactions that have occurred in Inner Brisbane, categorised by suburb, over the past ten years ending June 2016.
The map is colour coded, with the darker green representing the highest number of sales.
Accounting for one quarter of Inner Brisbane’s riverfront apartments, Kangaroo Point achieved the highest volume of transactions, recording a total of 1,149 riverfront sales over the past ten years.
This was followed by New Farm, which recorded 717 riverfront apartment transactions over the past ten years.
In recent years, West End has seen increasing volumes of riverfront apartment transactions as the area undergoes significant rejuvenation.
As the suburb continues to be redeveloped, it has now established itself as a market with a strong riverfront apartment presence.
<a href="https://www.propertyobserver.com.au/images/2017/03/12/Screen%20Shot%202017-03-12%20at%2011.27.39%20am.jpg" target="_blank">Click to enlarge</a>
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The chart above shows the top 20 most expensive riverfront apartment buildings in Brisbane over the past ten years.
Scott Street apartments, located in Kangaroo Point recorded the highest average apartment price of $4.9 million over the past ten year period.
New Farm’s Aquila Moray apartments came in second, recording an average sale price of $4.5 million.
The majority of Brisbane’s top 20 riverfront apartment buildings are located in the North of the River precinct, with all except two buildings being located in New Farm.
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Brisbane's riverfront apartment price growth put at 9 percent over past year

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Stalled apartment projects because of tougher lending conditions are pushing up prices of units again in Sydney, says Australia’s richest man Harry Triguboff.
“Less projects are going ahead,” Triguboff, founder of Australia’s largest apartment developer Meriton, told The Australian.
The issues around offshore and local buyers having difficulties settling apartments as Chinese authorities curbed capital outflows and Australian banks tightened lending criteria had not prevented a new wave of buyers — particularly from China — from signing contracts and ­settling their unit purchases, Triguboff said.
“The new buyers are finding other ways to fund the unit,” he said.
Meriton, which expects to build 3000 units this year, which grew its mortgage book last year for buyers of its apartments in the wake of tougher lending criteria by banks, said in the article in The Australian.
“This year, they are paying me back,” Triguboff said, noting buyers were able to get alternative funding.
Sydney’s apartment market would continue to flourish in 2017, he said despite threats of oversupply and chances of more regulatory intervention to squeeze investor lending.
Earlier this week, RBA assistant governor Michele Bullock said regulators were prepared to do more if the housing market poses risks to the economy.
“You can’t produce units with a magic wand,” Triguboff said, noting it could take years from gaining an approval for a project to apartment buyers moving in.
Unit rents had risen about 3-4 per cent over the past year, in a sign that demand remained strong, he said.
The monthly CoreLogic Hedonic Home Value Index reported a further rise in the value of capital city homes in February, led by Sydney where home values grew 2.6 percent over the month, with head researcher Tim Lawless saying “growth conditions have been rebounding since the middle of last year when, on two separate occasions, interest rates were cut, and investor demand commenced trending higher”.
Triguboff said as projects failed to find funding, new development would take a hit and rents would rise, worsening Sydney’s affordability.
“You can buy off the plan, but you can’t live in it for years, so rents will go up,” he said.
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Tougher lending rules pushing up apartment prices: Triguboff

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Brisbane’s office market has crossed the low point in the cycle and is starting to show signs of a recovery, according to the latest office market report by Cushman &amp; Wakefield.
Queensland’s economic growth suggests tenant demand should continue to gather momentum, in spite of the fact that H2 2016 net absorption is estimated to be lower than the surprise H1 2016 result, the commercial real estate firm adds in its Q4 office market outlook.
Brisbane saw 190,000 sqm of new supply in 2016. Most recently 1 William Street (75,000 sqm) was completed in Q4, which is fully occupied by the Queensland government and largely represents the end of the current supply cycle with only the refurbished 310 Ann Street (18,400 sqm) scheduled for 2017. 
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There will be stock withdrawals of nearly 130,000 sim in 2017 leading to net-negative supply of 112,000 sqm over the year, says the report. In line with this, prime gross effective office rents are trending sideways. Following a 5.2 percent decline in 2015, rent decline moderated to 0.8 percent in 2016. 
Cushman &amp; Wakefield says its base case scenario of a U-shaped recovery in Brisbane looks set to continue, a view further bolstered by the results in its “Office leasing trends and outlook” survey in which respondents expected vacancy to decline to 14 percent over the next year. 
<a href="https://www.propertyobserver.com.au/images/2017/01/11/Q4Brisbane-KeyDeals.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/Q4Brisbane-KeyDeals.png" alt=""> <img src="https://www.urban.com.au/images/2017/01/11/Q4BrisbaneProjects.png" alt="">
Improvements to Queensland’s State Final Demand and strengthening commodity pricing provides upside potential for tenant demand. Queensland’s State Final Demand rose a modest 0.1 percent in the quarter ended September. “However, given the high level of vacancy, the market will continue to favour tenants over the near-term,” the outlook concludes. 
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