<p>ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;</p>

<p>The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.</p>

<p>The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.</p>

<p>&nbsp;</p>

<p><img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" /></p>

<p>&nbsp;</p>

<p>There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.</p>

<p>Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.</p>

<p>Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.</p>

<p>A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.</p>

<p>“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.</p>

<p><img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" /></p>

<p>The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.</p>

<p>Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.</p>

<p>Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.</p>

<p>Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.</p>


Joel Robinson

Cedar Woods progresses with new apartment plans in Southbank arts precinct

<p>Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.</p>

<p>The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5481]</p>

<p>The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.</p>

<p>Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.</p>

<p>"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5479]</p>

<p>The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;</p>

<p>The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.</p>

<p>“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5485]</p>

<p>Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;</p>

<p>Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.</p>

<p>The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;</p>

<p>A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5488]</p>

<p>BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;</p>

<p>Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.</p>

<p>Williams said the team spent over a year searching for the ideal site before securing this location.</p>

<p>"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”</p>

<p>The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.</p>

<p>Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.</p>

<p>[smartcode_project_cta:default project_id=136432]</p>


BANKSII sales launch in booming East Brisbane apartment market

<p>The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.</p>

<p>Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.</p>

<p>Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.</p>

<p>The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.</p>

<p>To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.</p>

<p>Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.</p>

<p>The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.</p>

<p>The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.</p>

<p>Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.</p>

<p>The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

<section data-element_type="section" data-id="b086848">
<p>Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.</p>

<p>They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.</p>

<p>The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.</p>
</section>

<section data-element_type="section" data-id="534a164">
<p>Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;</p>

<p>Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.</p>

<p>“Melbourne is regaining momentum,"&nbsp;Stevens said.</p>

<p>"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.</p>

<p>“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."</p>

<p><img alt="Kokoda" data-entity-type="file" data-entity-uuid="9a8de51d-8092-480a-8b7e-e081816692c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-29%20at%208.54.27%E2%80%AFAM.png?VersionId=VRHpV5.6beOu2cieKHWrw3ErMPuVOAuj" /></p>

<p>Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.</p>

<p>Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.</p>

<p>“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”</p>

<p>Kokoda Property will now progress concept design ahead of a future planning process.</p>
</section>


Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

<p data-end="445" data-start="321">Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.</p>

<p data-end="675" data-start="447">In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.</p>

<p data-end="772" data-start="677">“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.</p>

<p data-end="901" data-start="774">"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."</p>

<p data-end="973" data-start="903">[smartcode_project:default project_id=108747 project_image_fid=193023]</p>

<p data-end="1158" data-start="975">Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.</p>

<p data-end="1397" data-start="1160">Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.</p>

<p data-end="1469" data-start="1399">[smartcode_project:default project_id=108747 project_image_fid=284864]</p>

<p data-end="1786" data-start="1471">Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.</p>

<p data-end="1952" data-start="1788">Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.</p>

<p data-end="2008" data-start="1954">"This is paramount in the current market," Pezet says.</p>

<p data-end="2279" data-start="2010">Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.</p>

<p data-end="2351" data-start="2281">[smartcode_project:default project_id=108747 project_image_fid=190743]</p>

<p data-end="2428" data-start="2353">One of the biggest drawcards to Lagoon has been the size of the apartments.</p>

<p data-end="2567" data-start="2430">"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.</p>

<p data-end="2850" data-start="2569">"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."</p>

<p data-end="2907" data-start="2852">Lagoon is set to complete construction in mid-2026.</p>

<p data-end="2958" data-start="2909">[smartcode_project_cta:default project_id=108747]</p>


Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

Apartment Sales

<p>The March 2021 quarter saw a 10.8 percent quarterly increase in sales volumes in the Northern Territory, according to the Real Estate Institute of Northern Territory (REINT).</p>

<p>It was accompanied by price rises in the Top End property market.</p>

<p>The March 2021 Quarter sales volumes was up a solid 51.1 percent from last year.</p>

<p>The unit/townhouse market showed equally strong results to start the year with sales up by 4.3 percent for the quarter and up 43.3 percent annually.&nbsp;</p>

<p>[smartcode_project:default project_id=29898]</p>

<p>The median price of a 2-bedroom unit continued to climb, up 3.1 percent this quarter to $330,000, which is a 9 percent increase on last year.</p>

<p>Palmerston had very solid sales in units this quarter, up 29.4 percent for the quarter with the median coming up 30.6 percent to $320,000.&nbsp;</p>

<p>The median price of a 3-bedroom house also saw solid gains, up 9.4 percent in the quarter to come in at $547,000. &nbsp;&nbsp;&nbsp;</p>

<p>Palmerston had a strong sales volumes with 115 properties sold &ndash; up 13.9 percent quarterly and up 62 percent annually. &nbsp;&nbsp;</p>

<p>The Palmerston median price also lifted by 7.5 percent to $500,000, which was 17.6 percent higher than March quarter 2020.</p>

<p>Alice Springs quietened a little with 77 transactions, up 71 percent annually in volumes, to a median house price of $469,000.</p>

<p>Alice Springs saw a quieter quarter for unit sales volumes, but did see a small increase in median price to $360,000.</p>

<p>Residential land sales continued very strongly in the March Quarter with blocks under 600sqm lifting by 128.6 percent for the quarter or 242.9 percent annually.&nbsp;</p>

<p>The median price was reasonably steady at $191,000.&nbsp;</p>

<p>&ldquo;The rental market continued to perform very strongly for investors and landlords&rdquo;, stated Quentin Kilian, chief of the Real Estate Institute of Northern Territory (REINT).&nbsp;</p>

<p>Rents on 3-bedroom houses rose 6 percent in the quarter to $538.50 per week, which is an annual rise of 17.3 percent. &nbsp;</p>

<p>Units were fairly static for March, moving up just 0.1 percent to $364.00 per week, however that is 10.3 percent up from March 2020.</p>

<p>Rental yields relaxed a little in March but remained very strong at 5.1 percent for houses and 5.7 percent for units. &nbsp;&nbsp;</p>

<p>&ldquo;We remain one of the best investor markets in Australia with the strongest rental yields of any Australian capital city, and the yields in Katherine and Alice Springs regularly exceed 6 percent&rdquo;, said Mr. Kilian.&nbsp;</p>

<p>Vacancy rates have tightened again from December, coming back to 1.8 percent across Greater Darwin; 1.6 percent in Palmerston and 2.4 percent in Alice Springs. &nbsp;</p>

<p>Unit vacancies in the rural area have hit 0 percent.&nbsp;&nbsp;</p>


The March 2021 quarter saw a 10.8 percent quarterly increase in sales volumes according to the Real Estate Institute of Northern Territory (REINT)

jchancellor

Northern Territory two bedroom unit prices up 3.1 percent to $330,000

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<p>Record low interest rates and rising house prices are sustaining the new home construction market confidence into 2021, according to the HIA’s economist, Angela Lillicrap.<br>
 <br>
The latest HIA New Home Sales report shows sales in the three months to February 2021 were up 60 per cent on the same three months in the previous year. </p>

<p>"This strong result reflects the significant impact of HomeBuilder on demand for detached housing,” said Ms Lillicrap.<br>
 <br>
“HomeBuilder was the catalyst for improving consumer confidence in the housing market."<br>
 <br>
She noted the December 2020 surge of new home sales as households rushed to finalise contracts to build a new home before the end of the $25,000 grant.<br>
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The HomeBuilder grant is now at $15,000 until March 30.</p>

<p>“We expect a surge in sales in March but due to the lower grant offering, this surge will not be as large as the December 2020 surge."<br>
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“To receive the HomeBuilder grant, construction is required to commence within six months of signing a contract to build. As a consequence, it is possible that builders will delay the signing of some contracts to allow for greater flexibility and more detailed planning of projects."</p>

<p><img alt="" height="1264" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/hia_2021_graph.jpg" width="2068"></p>

<p>Sales in the three months February 2021 increased across Australia compared to the same time the previous year. </p>

<p>South Australia is up by 149 per cent, followed by Victoria (+69 per cent) and Queensland (+60 per cent). New South Wales increased by 46 per cent and Western Australia is up by 25 per cent over the same period.</p>

<h2><strong>Recently listed properties:</strong></h2>

<p>[smartcode_project:default project_id=27575]</p>

<p>[smartcode_project:default project_id=2929]</p>

<p>[smartcode_project:default project_id=29048]</p>
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Sales in the three months February 2021 increased across Australia compared to the same time the previous year. 

March to see mini HomeBuilder surge in new home sales: HIA

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<p>Prahran had the top Melbourne auction result on the weekend with a mooted development site selling at $3.6 million.</p>
<p><a href="https://www.realestate.com.au/sold/property-house-vic-prahran-128438542" target="_blank">The 76 Williams Road offering</a> (pictured above) was listed through RT Edgar inconjunction Gross Waddell.</p>
<p>It was a block of five, two bedroom apartments, on separate titles returning $98,016 p.a.</p>
<p>The total land area of 975m2 featured two street frontages, with access via Russell Street.</p>
<p>It was within a short walk to the High Street shops and restaurants, nearby parklands and transport.</p>
<p>Each apartment comprises two bedrooms, open plan kitchen/living room, one bathroom and one car space.</p>
<p>It came with four monthly tenancies and one lease terminating February next year.</p>
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j.ballantyne1990-6AQqhLzZaK

Block of five Prahran apartments sells for $3.6 million.

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<p>Despite a surging population and record high levels of new construction, a lower proportion of housing stock is selling. </p>
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<p>The analysis, paired annual settled sales data with dwelling counts over time to show that the proportion of total housing stock turnover on an annual basis. </p>
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<p>The analysis found that over the 12 months to September 2017, just 5% of the national housing stock transacted; the lowest proportion of stock-turnover since April 2012 when it was at an historic low of 4.9% of stock transacted. Over the nine years of data available, an average of 5.5% of the national housing stock transacts in a given year.</p>
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<p>Across the combined capital cities, a record-low of 4.7 percent housing stock transacted over the past year which was well down on the 5.6% average. Across the combined regional markets, 5.6% of housing stock transacted which was slightly higher than the 5.5% average. In both the capital city and regional housing markets stock turn-over is slowing. </p>
<p><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/2017/10/26/Total.jpg" alt=""></p>
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<p>Housing turnover is impacted by supply and demand factors. From the demand side of things the contributors are the rate of population growth, growth in household incomes, levels of investor demand and accessibility to credit. </p>
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<p>From the supply side the factors include the level of new housing construction and how much stock is actually available for sale at any given time. Other factors include the costs associated with buying and selling properties as well as government policies such as incentives for first home buyers.” </p>
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<p>Across the states and territories, the trends are interesting: </p>
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<p>NSW: In Sydney an historic low 4.7% of housing stock transacted over the past year and in regional NSW the figure was 5.9%. In each region turnover has slowed. </p>
<p><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/2017/10/26/NSW.jpg" alt=""></p>
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<p>Vic: Historic low 4.4% of Melbourne housing stock turned-over throughout the past year compared to 4.9% of regional Vic stock. Both of the regions are seeing a fall in turnover.</p>
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<p>Qld: Stock turnover is well above record lows in Brisbane (5.8%) and regional Qld (5.8%). Brisbane turnover is only slightly below average (5.9%) while regional Qld turnover is at average levels. </p>
<p><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/2017/10/26/QLD.jpg" alt=""></p>
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<p>SA: Turnover is fairly steady in SA recorded at 5.7% in Adelaide and 5.8% in regional SA. In each region turnover is slightly above long- term average levels. </p>
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<p>WA: After a large fall over recent years, turnover has stabilised at a record low in Perth (3.6%) and has increased slightly from record lows in regional WA (4.2%). </p>
<p><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/2017/10/26/WA.jpg" alt=""></p>
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<p>Tas: In Hobart, 5.9% of housing stock sold last year compared to a long-term average of 5.4% annually and in regional Tas 6.1% of stock sold compared to a long-term average of 5.3% </p>
<p><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/2017/10/26/Tas.jpg" alt=""></p>
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<p>NT: 4.2% of housing stock transacted over the past year in Darwin and 4.7% of stock in regional NT. There has been a significant fall in turnover across the state as dwelling values have fallen.</p>
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<p>Canberra: Over the past year, 4.8% of housing stock sold which is an historic low level. </p>
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<p>The figures are stark given just how little of the Australian housing market actually sells in any given year.</p>
<p>A big driver of the low level of turnover over the past year has been relatively low levels of stock for sale, particularly in our largest capital cities and the high costs associated with stamp duty when buying a property.</p>
<p>The impost of stamp duty discourages turnover as we have recently seen with the removal of stamp duty for first time buyers under certain price thresholds in NSW and Vic.</p>
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<p>Once removed there has been a surge in housing finance commitments by first home buyers.</p>
<p>The final consideration for the low turnover is the high cost of housing in Australia, because the cost is high it is a significant consideration for households as to whether or not to purchase a property. </p>
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Dwelling construction surges yet housing turnover falls

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<p>It was Wolli Creek where the price weakness was evident amid weekend sales.</p>
<p>There was a $605,000 sale when the two bedroom at 128/88 Bonar Street was sold.</p>
<p>It had previously traded at $628,000 in 2015. </p>
<p>Not a huge loss, but bigger once legal and estate agency selling costs are factored in.</p>
<p>The apartment is situated in the Sorrento complex were the facilities for residents include a heated pool, spa, gym, sauna and a playground for the children.</p>
<p>It is the second time the price has backtracked since first sold by Meriton at $395,000 in 2002, then selling seven years later at $315,000.</p>
<p>It was marketed as the most affordable two bedroom available in Wolli Creek by the Richardson &amp; Wrench selling agent Nick Atanasovski who suggested a $600 a week anticipated rental return.</p>
<p>CoreLogic calculate Wolli Creek has some 4500 plus apartments, and put its median unit value at $720,000 which is back at 2015 levels.</p>
<p>The $630 median rental sits at levels first seen in 2017.</p>
<p>The sales of the 125 units sold this year have ranged from $475,000 to $1.4 million for a penthouse.</p>
<p>A $1.13 million sale had been sold at $1,172,000 off the plan in 2016. Another sold recently for $784,000 haven initially been traded at $820,000.</p>
<p><em>This article first appeared in </em>The Daily Telegraph.</p>
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Price weakness shows at Wolli Creek apartment sale

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<p><span>A two-bedroom Surry Hills apartment sold last weekend for $1,002,000 to an investor.</span></p>
<p><span>Selling agent James Ledgerwood of The Agency Eastern Suburbs advised there were four registered bidders at the auction where bidding finished $2000 above reserve.</span></p>
<p><span>The vendor recorded a loss as it last sold for $1.1 million in 2016</span>.</p>
<p><span>The loss was 10 percent plus costs.</span></p>
<p><span>The sale price was withheld on the listing websites.</span></p>
<p><span>The </span>36/45-49 Holt Street apartment was in the Habitat building.</p>
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Loss in Surry Hills as property investor spends $1,002,000

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<p>Ultiqa Hotels &amp; Resorts has purchased the management rights for the upcoming Little Projects 256-apartment project, Signature Broadbeach through Resort Brokers.</p>
<p>Over 20 local and international groups sought the opportunity to secure the 25-year term agreement covering Signature’s maintenance, letting and real estate rights.</p>
<p>On listing The Urban Developer noted Little Projects <span>expected to see offers over $15 million.</span></p>
<p>“The management rights to quality buildings of scale are increasingly hard to come by on the Gold Coast, particularly in Broadbeach, where both tourism and real estate markets remain buoyant,” said Little Projects director, Leighton Pyke.</p>
<p>Positioned in the heart of Broadbeach and minutes from patrolled beaches, cafes, public transport, the Star Casino and Pacific Fair Shopping Centre, Signature Broadbeach was the top selling project for the Gold Coast in Q1 and Q2 2018.</p>
<p>On listing last July, <span>Little Projects had reported more than 100 of the luxury units already under contract.</span></p>
<p><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/2019/1/9/BroadBeach%202.jpg" alt=""></p>
<p><span><span>Designed by Rothelowman architects in collaboration with SJB Interiors, </span>Signature Broadbeach will feature 49 one-bedroom, 192 two-bedroom and 11 three-bedroom apartments, all with Miele appliances and stone benchtops.</span></p>
<p>Each of the 256 residences have access to a 50-metre infinity edge pool, a gymnasium, onsite cafe and private cinema.</p>
<p>With the addition of Signature, ULTIQA’s current portfolio is valued at $60 million.</p>
<p>“Signature Broadbeach is a significant addition to our portfolio and represents an exceptional standard of well-appointed apartments in excellent locations,” said ULTIQA’s Chief Executive Officer, Mark Henry.</p>
<p>Signature Broadbeach will commence construction in early 2019 and is expected to be completed within 2 years.</p>
<p>Residences at Signature are for sale starting at $495,000 for one-bedroom, $619,000 for two-bedroom and $1.325 million for three-bedroom dwellings.</p>
<p><span>Last July it had prices starting from $483,000 and up to $2.25 million.</span></p>
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Little Projects sells Signature Broadbeach management rights to Ultiqa

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<div style="text-align: left;" align="center">Property NSW, acting for F&amp;C Services, have announced the sale of the last four government-owned properties on High Street.</div>
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<div>The Millers Point properties, opposite Barangaroo, and each containing four two-bedroom apartments, were sold at auction by McGrath Estate Agents yesterday.</div>
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<div>The sales included:</div>
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<div>- 2-4A High Street (above) sold for $5.5 million</div>
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<div>- 6-8A High Street sold for $5.56 million</div>
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<div>- 14-16A High Street sold for $5.42 million</div>
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<div>- 34-36A High Street sold for $5.446 million.</div>
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<div>A total of 184 Government sales have occurred in Millers Point since 2014.</div>
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<div>It’s anticipated the sales program will be finalised by the end of 2018 with the sale of the remaining seven properties.</div>
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<div>Proceeds from the Millers Point sales program have delivered over $591 million for investment in new social housing developments in NSW.</div>
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<div>As of May 2018, a total of 977 units have been completed and 255 units are currently under construction as a result of the Millers Point sales.</div>
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<div>Developments are occurring in areas of identified need for social housing, including the Bankstown, Canterbury, Liverpool and Fairfield areas and the Sutherland and Wollongong areas.</div>
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<div>Conservation Management Plans (CMPs) endorsed by the NSW Heritage Council are included in contracts for sale for all heritage listed properties.</div>
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<div>These contracts ensure new property owners are fully informed of their responsibilities when purchasing a heritage listed property.</div>
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Four High Street NSW government-owned properties sold at Millers Point

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<p>Construction of what will be the highest residences in the Southern Hemisphere when completed, has hit its first major milestone, with the first residents set to move into Australia 108 in Southbank, Melbourne, in June.</p>
<p>Builder Multiplex has handed over the first portion of the building, comprising 277 apartments located between levels 14 and 30.</p>
<p>Construction of the remaining floors above continues to progress rapidly.</p>
<p>The early residents will have access to some of Australia 108’s extensive amenities, with construction of its lap pool and gym area on level 11 having been completed, along with two levels of car parking.</p>
<p>Residents will access their luxury apartments via a fully completed private lobby, with workers accessing the building through separate entrances not visible to residents.</p>
<p>Multiplex envisaged multiple staged handovers, which will see the building completed in several portions.</p>
<p>World Class Global CEO David Ng said it was a historic moment for his iconic project, which is not only on its way to becoming Melbourne’s tallest building but will also house the highest residences in the Southern Hemisphere.</p>
<p>“We extend a warm welcome to all of our inaugural residents who will now call this iconic address home.”</p>
<p>Multiplex regional managing director Graham Cottam said the project was on track for completion in the next two years following a rapid construction process, with the core structure up to level 59 and slabs at level 53.</p>
<p>He noted the glass façade was around 2,500 tonnes of glass spanning 47,000 square metres.</p>
<p>Commencing construction in November 2015, foundation works on Australia 108 took almost nine months to complete, with some of the most substantial piling works undertaken in Melbourne to date.</p>
<p>Drilling went 46 metres deep, with 1950 millimetre thick core walls used in order to strengthen the cloud-breaking building.</p>
<p>The tower’s eye-catching golden Starburst, which will house two full floors of private amenity including two pools 210 metres above street level, is expected to be lifted into place early next year.</p>
<p>Ng said there were only a small number of apartments left in the tower, and opportunities to purchase a home at the iconic address were limited.</p>
<p>To date more than $872 million in sales have been made, with the first handover providing World Class Global with approximately $147 million in recognised revenue.</p>
<p>Priced from $1,957,000, the group of 19 apartments are all located above level 71, offering some of the best views in Melbourne over the CBD and out to Port Phillip Bay.</p>
<p>Launched for sale in November 2014, Australia 108’s 1,103 apartments sold rapidly, with the 750-square metre penthouse setting the record for Australia’s most expensive apartment when it sold to a Chinese national for $25 million in April 2015.</p>
<p>This July, the public will have a chance to see inside Australia 108, with the building included in this year’s Open House Melbourne program. Fender Katsalidis will be hosting tours of the site on Saturday 28 and Sunday 29 of July.</p>
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