Bronte Group has received planning approval for Miru, a new 46-townhouse development in Denman Prospect.

Occupying a prominent 6,869 sqm ridgeline site across Holborow Avenue and Goedecke Street, <a href="https://www.apartments.com.au/new-apartments/miru-holborow-avenue-denman-prospect-act-2611">Miru</a> will comprise four architecturally unified buildings ranging between two and three storeys. The townhouses are arranged to maximise views of the Molonglo Valley to the east and Stromlo’s bushland to the west, offering residents a rare dual outlook.

There will be 30 two-bedroom and 16 three-bedroom townhouses, with seven different floorplan layouts.

“The townhouses are carefully arranged to harmonize with the landscape, grouped into four subtly distinct yet cohesive blocks,” the Development Outcomes Report prepared by Planit Strategic notes.

"Each block of townhouses is designed to maximise views… while ensuring access to natural cross-ventilation and daylight”.

<img alt="Bisa secures approval for Miru, a 46-townhouse project atop Denman Prospect ridge" data-entity-type="file" data-entity-uuid="91d3f5b1-6fbf-4da1-be41-b5aa9596d233" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Miru%20front.png?VersionId=K5Dhr0.4iMvji9swNnBv1Exuj8PKCay7" />

A standout element of the design is the integration of landscaping and open space. All homes will have private courtyards, while residents and visitors will benefit from extensive communal landscaping and dedicated visitor parking. A key pedestrian corridor running east to west will link public open space and enhance site permeability.

&nbsp;

The site is zoned RZ5 and sits within the newly developed Denman Prospect estate. While currently vacant, the area forms part of a broader plan for high-quality residential infill in the Molonglo Valley. The project’s scale and low-rise format ensure a measured transition to the adjacent lower-density housing, with generous setbacks and minimal overshadowing.

&nbsp;

Miru will be the fifth development by <a href="https://www.apartments.com.au/developers/bronte-group">Bronte Group</a> in Denman Prospect in recent years. They completed&nbsp;Symmetry, 83 townhouses down the road in 2022, as well as Solai, and Aberconway Rise. They are currently selling Central Park, a mix of apartments and townhouses in the suburb around 15km west of the capital.

Staff Writer

Bronte Group secures approval for Miru, Denman Prospect townhouse development

Burgeoning developer&nbsp;<a href="https://www.apartments.com.au/developers/freecity">Freecity</a>&nbsp;is the latest to take on the booming North Sydney apartment market, one of the most popular suburbs with off the plan buyers.

They are taking a <a href="https://www.apartments.com.au/new-apartments/153-walker-street-north-sydney-nsw-2060">51-storey tower on Walker Street</a> to the NSW Government's&nbsp;Housing Delivery Authority, filing a State Significant Development Application for 300 apartments above a 150-room hotel. It will replace two commercial office buildings.

According to the Scoping Report prepared by Urbis, the development will "support the ongoing evolution of North Sydney by delivering a high-quality, mixed-use tower in close proximity to major public infrastructure."

They also said it “responds to the competing urban demands” of housing, hospitality, and employment.

<img alt="153–157 Walker Street" data-entity-type="file" data-entity-uuid="53e44b04-851c-496e-b90c-e4d77aa8f000" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Waler-St-Elevated-View-600x600.jpg?VersionId=fSDYrb1wJR.RVZVWo3wRUaw9n265x1Ka" />

The vertical program places hotel uses on levels one to six, activated by a retail arcade and hotel entry, while the upper levels contain communal amenity and transition spaces. The residential component will be delivered across levels 8 to 47 and includes a mix of one to three-bedroom apartments. Shared facilities include a rooftop lounge, dining space, and landscaped terrace with panoramic views.&nbsp;

The design also accommodates a publicly accessible through-site link connecting Walker and Little Walker Streets.&nbsp;

<img alt="Freecity" data-entity-type="file" data-entity-uuid="26165ce9-e49d-4efb-9e9c-037392707d9f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Article%20Feature%20Image%20%28Grid%29_1.png?VersionId=lAet4uJy_uNw3nc2e6hBc6302r9Q1dUB" />

The built form continues to reflect the earlier design vision by <a href="https://www.apartments.com.au/architects/architectus">Architectus</a>, with a distinctive two-volume massing: hotel podium stepping down to Little Walker Street, and the slender residential tower rising above. The architecture intends to balance North Sydney’s increasing urban density with solar access, view sharing, and a fine-grain public realm interface.

“The form has been sculpted to preserve sky view corridors and reduce visual bulk,” the Design Report by Architectus previously noted, highlighting view preservation and contextual integration.

Importantly, this latest iteration supersedes an earlier SSD pathway explored in late 2024 for a build-to-rent and hotel project. That alternative scheme has since been shelved following Freecity’s successful submission to the HDA’s new streamlined approval stream.

<img alt="153–157 Walker Street" data-entity-type="file" data-entity-uuid="f70e4ee4-4599-411b-9fc1-802c4292819e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Littile-Walker_Elevated-800x600.jpg?VersionId=zhfw3NMg_jchSSWuUHJJg8.m.qhqZgYM" />

The site sits within the Victoria Cross Station State Significant Precinct and is expected to integrate with broader public domain upgrades around the Metro station, including new pedestrian links and plaza connections between Berry and Walker Streets.

&nbsp;

North Sydney has been one of the most indemand suburbs in Sydney, however it has struggled with supply. <a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA by Aqualand</a> was one of the only developments in market for several years, until the recent launches of <a href="https://www.apartments.com.au/new-apartments/the-walden-north-sydney-173-179-walker-street-north-sydney-nsw-2060">The Walden</a>, which sold over $100m of sales in three hours, and <a href="https://www.apartments.com.au/new-apartments/the-mclaren-north-sydney-45-mclaren-street-north-sydney-nsw-2060">The McLaren</a> by CASA.

&nbsp;

Joel Robinson

Freecity joins booming North Sydney apartment market with 51-storey tower proposal near Victoria Cross

Prolific Sydney developer Landmark Group is continuing to expand its growing development portfolio.

<a href="https://www.apartments.com.au/developers/landmark-group">Landmark Group</a>, which is progressing with a new Edgecliff project alongside current developments in Macquarie Park and Caringbah, is set to deliver rare new apartment supply in Lindfield, the affluent suburb on Sydney’s Upper North Shore. The projects form part of the NSW Government’s broader push to increase housing density around key transport hubs.

The developer currently has two proposals under assessment through the NSW Government’s Housing Delivery Authority. Together, they comprise nearly 400 apartments, 220 across a large 6,672 sqm amalgamated site spanning Trafalgar Avenue and Valley Road, and a further 173 apartments just 300 metres away on Middle Harbour Road.

The Trafalgar Avenue project, dubbed <a href="https://www.apartments.com.au/new-apartments/lindfield-house-5-7-middle-harbour-road-lindfield-nsw-2070">Lindfield House</a>, is located around 500 metres from Lindfield train station. It will feature 220 apartments across three buildings. Architecture firm DKO, which designed the scheme, said in its submission that the façade strategy is guided by design principles promoting refined architectural expression, contextual sensitivity, and a human-scaled urban response.

“Central to this approach is a layered and sculptural composition, where massing, materiality, and depth are strategically modulated to create a dynamic and visually legible built form. The architecture is defined by a clear hierarchical organisation: a robust, grounded podium provides a strong interface with the public realm, while lighter upper tiers recede into the skyline,” DKO said.

<img alt="Landmark" data-entity-type="file" data-entity-uuid="d934b639-becc-4778-9756-979a2d6ef514" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-22%20at%2010.41.27%E2%80%AFAM.png?VersionId=Ss4AdKdVpjArekAiir2213cjcWrAgBJz" /> 
The open courtyard between the buildings

DKO also designed the Middle Harbour Road project, which is closer to the station. The nine-storey building is "structured to respect the surrounding context and provide a clear urban transition."

“The design aims to respond to both the low-scale residential development of the heritage overlay precinct and the highway development immediately to the south in the North Sydney CBD”.

The mix of units is intended to serve both general market demand and key worker housing, with affordable housing apartments integrated at the lower levels. The proposed building steps from six to nine storeys as it ascends from the rear to the street front, creating a layered form that mediates between the different scales of surrounding built form.

&nbsp;

<img alt="Lindfield" data-entity-type="file" data-entity-uuid="e051aae5-0174-48b4-a033-823eb2a0e333" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-10-22%20at%2010.30.12%E2%80%AFAM.png?VersionId=OqU2XRPU9vr6id0hddHlfHXODOI7s99z" /> 
The Middle Harbour Road site

&nbsp;

<a href="https://www.apartments.com.au/developers/landmark-group">Landmark Group</a> has&nbsp;delivered more than 4,000 homes across Australia, with a future pipeline worth $5 billion. Among their pipeline of projects is a <a href="https://www.apartments.com.au/news/nsw/first-look-landmark-group-tries-again-with-edgecliff-tower-plans">new mixed-use development near Edgecliff Station</a>.&nbsp;

They are also have live projects in Macquarie Park, Caringbah, and Dee Why.

First look: Landmark Group to bring new apartments to Lindfield

From suburban apartment blocks to skyline-defining towers, <a href="https://www.apartments.com.au/developers/deicorp">Deicorp</a>’s journey over the past 26 years has been one of consistent expansion and scale. The last decade in particular has seen Deicorp become one of the most prolific developers in Greater Sydney. Now with a $3.5 billion pipeline and some of its boldest projects yet, the developer is taking on central Sydney, starting with <a href="https://www.apartments.com.au/new-apartments/hyde-metropolitan-sydney-133-141-liverpool-street-sydney-nsw-2000">Hyde Metropolitan</a>.

Deicorp founder Fouad Deiri started the company in 1999 initially working out of a small office in Hurstville, with a 21-unit townhouse project in Albert Street Newtown. With a small but capable team, they utilised their extensive construction industry experience to grow the scale and complexity of jobs to now having a team of more than 200 with more than 4,000 units currently under construction.&nbsp;

[smartcode_project:default project_id=21809 project_image_fid=351911]

One of their most significant developments, Hyde Metropolitan, will arguably become one of their greatest feats, reshaping the city skyline at the southern end of Hyde Park.

Deicorp is already nearly five years into the development process. It was 2021 when they secured the Polding Centre, a 1970s, 24-storey office building on the corner of Liverpool and Castlereagh Street, from the Catholic Archdiocese of Sydney, following a six-month competitive process.

As per the City of Sydney regulations when developing within their council to the scale of such a building, the council undertook a competitive design process where architects put forward different designs and schemes for the site.

[smartcode_project:default project_id=21809 project_image_fid=215742]

They settled on the proposal by renowned architect <a href="https://www.apartments.com.au/architects/candalepas-associates">Angelo Candelapas</a>, which would bring to life their vision to create one of the best new developments within the CBD.

“I cannot imagine anything more beautiful than the delivery of a building which can demonstrate a deep affection for our sun,” Angelo Candelapas said of the design. “It is a building with dramatic foyers and an oasis garden for the residents. These two facilities link to provide a sense of wellness and nature in the centre of the city.”

[smartcode_project:default project_id=21809 project_image_fid=215741]

Fouad Deiri said he had long admired the innovation and design language of Candelapas.

“Deicorp has deliberately partnered with some of Sydney’s most recognised and capable architects in the past and we understand the value of working with truly talented designers,” Deiri said.

There are just under 170 apartments on offer at Hyde Metropolitan, a mix of one-, two-, and three-bedroom residences, many with never-to-be-built-out views over Hyde Park and towards the Harbour.

[smartcode_project:default project_id=21809 project_image_fid=215728]

Upon arrival, residents will be greeted by an eight-level-high private lobby with arched cathedral fenestrations, serving as a podium to the 55-level tower. The ground level will also host a high-end restaurant and cocktail lounge, very much in keeping with its vibrant streetscape.

The resident amenity will sit on top of the podium and will feature a 25-metre pool, landscaped courtyards and gardens, a barbecue area, gym with a sauna, and a music room. Sales are being handled by <a href="https://www.apartments.com.au/project-marketer/srm-residential">SRM Residential</a>. SRM Director Dave Milton said Hyde Metropolitan will be "one of the preeminent Sydney residential developments on the southern end of Hyde Park."

Hyde Metropolitan is one of nine developments either under construction, in planning, or in market for Deicorp.

Their next project to launch, <a href="https://www.apartments.com.au/new-apartments/falcon-alexander-8-alexander-street-crows-nest-nsw-2065">Falcon &amp; Alexander</a> in <a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a>, will be their first development on Sydney’s Lower North Shore. True to tradition, Deicorp has already commenced construction on Falcon &amp; Alexander, prominently positioned at The Five Ways junction, placing it a five-minute walk from the new Metro station and in close proximity to Crows Nest Village. The one-, two-, and three-bedroom apartments will start from just under $1.3 million.

[smartcode_project:default project_id=135323 project_image_fid=351946]

Deicorp will roll into 2026 with several more projects to launch to the market for the first time.

They have already cleared their massive 2.87-hectare site Zetland that borders Gunyama Park, where they will transform a former industrial site into <a href="https://www.apartments.com.au/new-apartments/the-avenues-zetland-130-joynton-avenue-zetland-nsw-2017">The Avenues</a>, 624 apartments across nine buildings, curated ground-floor retail, purpose-built student housing, and build-to-rent dwellings delivered in partnership with Scape. It is one of the largest developments to be launched in Sydney’s inner south in recent years.

One of their most anticipated projects is the $1.8 billion Five Dock masterplan <a href="https://www.apartments.com.au/new-apartments/kings-bay-village-53-75-queens-road-five-dock-nsw-2046">Kings Bay Village</a> (below), to be delivered in a joint venture with non-bank lender Metrics.

<img alt="Deicorp teams up with Metrics for $1.88 billion Kings Bay Village, Five Dock masterplan" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-08-14%20at%208.12.53%E2%80%AFAM.png?VersionId=_9z4I8B0EIzrXe3ldnXti1bSXCeoZi2W" />

Kings Bay Village will comprise 1,185 new homes, including 218 affordable dwellings for essential workers, along with 6,500 sqm of public open space and 14,700 sqm of vibrant retail and commercial offerings.

Add to that more releases at their <a href="https://www.apartments.com.au/new-apartments/showground-pavilions-castle-hill-3-andalusian-way-castle-hill-nsw-2154">Castle Hill Showgrounds</a> precinct, and their under construction projects in Rhodes and Parramatta, Deicorp is in the midst of adding a much-needed 3,000 new apartments to some of Sydney’s most sought-after postcodes.

Read more: <a href="https://www.apartments.com.au/news/nsw/deicorp-teams-up-with-metrics-for-1-88-billion-kings-bay-village-five-dock-masterplan">Deicorp teams up with Metrics for $1.88 billion Kings Bay Village, Five Dock masterplan</a>

Deicorp dives into luxury as Sydney apartment development pipeline grows

A prominent corner in Wynnum’s central precinct could be reshaped under new plans from <a href="https://www.apartments.com.au/developers/toore-developments">Torre Development</a>, with a development application now with council for a sculptural eight-storey apartment building combining residential, office, and recreation uses.

Situated at <a href="https://www.apartments.com.au/new-apartments/63-bay-terrace-wynnum-qld-4178">63 Bay Terrace</a>, the 2,014 sqm site lies at the intersection with Charlotte Street, within the Wynnum-Manly Neighbourhood Plan’s Wynnum central business district sub-precinct. The proposal seeks to deliver 78 apartments above ground-floor non-residential tenancies, with architecture by Plus Studio.

The proposed building will be a mix of 58 two-bedroom and 20 three-bedroom apartments spread across seven residential levels, crowned by a 914 sqm communal rooftop terrace featuring a pool, gym, sauna, and private dining areas.

Ground level activation is a key aspect of the design, with 771 sqm of office and indoor sport and recreation space proposed to reinforce the area’s major centre designation. The site will also deliver improved pedestrian amenity via a recessed entry plaza on Bay Terrace and a landscaped public realm along Charlotte Street.

<img alt="63 Bay Terrace, Wynnum" data-entity-type="file" data-entity-uuid="4e5ef890-2f8f-4bbd-9ff1-57fa4e4360d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Wynnum%20podium.png?VersionId=7_if97F1KAYrTX2BQrNspFInEHwXcQRd" />

In their design report, <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> described the form as “sculpted into a rhythmic wave, amplifying facade dynamism while merging interior life seamlessly with the city’s texture to evoke a fluid, immersive urban living experience”.

Vehicle access will be via Bay Terrace, with four basement levels accommodating 197 car spaces, including 177 for residents. Bicycle storage is also provided for 193 bikes.

The building’s architectural character is marked by curved balconies, horizontal banding at podium level, and lush greenery integrated throughout.

“Traditional developments in Wynnum typically feature above-ground car parking, a tiered 'wedding-cake' building form, no podium-level landscaping, and no rooftop amenities,” Mewing Planning noted in the DA, positioning this proposal as a departure from the norm.

The new development is Torre's second in the area, having recently completed Catalina, a more boutique building with 28 apartments.

There are only two new developments currently on the market in Wynnum: Panorama on Bay Terrace and Adena Residences on Sorrento Street, the latter of which is nearing completion.

First look: Torre eyes sculpted mixed-use apartment tower for key Wynnum corner

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The median house price for Sydney is now $873,786, after a 14% rise in prices during 2014, according to Fairfax's The Domain Group. 
Apartments rose 10% over the year to $597,668.
Domain Group senior economist Dr Andrew Wilson said the figures confirmed the Sydney property market was in "hyperdrive."
It came on top of the 15% house price rise in 2013.
He said the rest of the country was "in second gear". 
Much of the Sydney growth was in the December quarter when the median house price increased 4.1%. 
Melbourne house prices grew by just 0.6% over the December quarter, up annually by 3.4% to a $610,470, according to Domain Group's House Price Report. 
Wilson forecasts 7% to 10% growth for 2015 for Sydney, Fairfax Media reported on the Fairfax group report. Dr Wilson expects Melbourne house prices to grow by 3% to 4% this year.
Sydney's upper north shore and north-west rose by a stellar 21% to $1.18 million, the Sydney inner west by 18% to $1,275,000 while just 7% growth in the Sydney east and inner city to $1.65 million.
The lower north shore had the highest media at $1.81 million, up 13%.
Wilson said most of the house price growth was in the $1 million to $2 million price range.
Canberra house prices increased in the final 2014 quarter to $585,630 and units increased to $412,835.
The median house price growth for the year was 0.5%, the smallest annual rise since 2011.
Units were down over the year by 0.9 per cent, the Domain Group report indicated.
The national median house price increased by 2.1% in the quarter – the strongest for the year - while units had a national quarterly rise of 1.7%.
 
Brisbane's median house price hit a record $489,680, up 1.5% over the quarter and 6.1% over a year, slightly stronger than the 5.1% growth in 2013.
 
{mijopolls 84} 
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jchancellor-FAypfDUnLy

Sydney house prices in hyperdrive, with rest of Australia in second gear: Domain Group

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The median national house price was up 2% for the March quarter and 11.3% over the year, with Melbourne and Sydney remaining the clear market leaders for price growth according to the latest House Price report from Australian Property Monitors (APM).
Price growth rates slowed across all capital cities for the March quarter, with no growth in Perth’s median house price and APM recording falling prices in Hobart, Darwin and Canberra.
The biggest quarterly increase in median price was seen in Sydney, up 3.1% to a median house price of $669,845 for March. However, these results were markedly softer than those recorded in the previous quarter. Median house price recorded in the city for the December quarter was at 5.1%.
APM senior economist Andrew Wilson commented that Sydney’s median house price showed its lowest rate of quarterly growth since March 2013.
“The Sydney house price boom has faded fast as all capital city housing markets recorded waning house price growth over the March quarter,” noted Wilson, who cited affordability barriers in the city’s market resulting from underperforming local economies.
“Other capital city markets have recorded, at best, modest growth which clearly reflects the disparity of the multi-speed recovery profile of the current growth cycle.”
The <a href="https://www.realestate.com.au/property-house-nsw-punchbowl-115014075" target="_blank">three bedroom Punchbowl home</a> pictured below sold for $690,000 last month. 
<img src="/images/2014/04/23/main%205.jpg" width="460" height="345">
The second biggest jump recorded by APM was in Melbourne, where the median price for March was $540,747, up 2.8% for the quarter.
APM’s results for the quarter are more conservative than those posted by RP Data, which recorded a 4.8% median house price increase over the March quarter for Sydney and a 5.8% increase in Melbourne.
Data from APM shows that Sydney’s house market has seen a 16.9% year on year increase in median price, while Melbourne’s median house price is up 11.7% from March 2013.
The greatest drop in median house prices was seen in Canberra, where median house price was recorded at $566,863, down 2.6% for the quarter. Canberra was also the only capital city market that saw a year on year decline, with the median house price falling 1.6% from March last year.
This <a href="https://www.realestate.com.au/property-house-act-mckellar-116248543" target="_blank">three bedroom house</a> on 776 square metres of land in Canberra’s Belconen district sold for $565,000 in March. 
<img src="/images/2014/04/23/image9.jpg" width="460" height="345">
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jrichardson-uRX5hFdKfN

Melbourne price growth the second strongest capital city, with softening Sydney prices: APM

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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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jduke-EHk3XBmHkn

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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