The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Domain

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Nine Entertainment's digital and print real estate media business Domain Holdings is set acquire the Commercialview.com.au website.

For starters Domain will spend $2 million in cash to secure the commercial property digital listings platform, which had most of its footprint in Melbourne and Sydney.

CommercialVIEW.com.au is a stand-alone commercial real estate advertising portal that is industry owned, directed by Ben Cooper, Stephen Gorman, Malcolm Gunning and its CEO Daniel Bignold. Its issued capital is given as $3.8 million, with nine million ordinary shares on issue and 310,000 redeemable preference shares.

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During the past year the board exercised its power to change the option terms with the exercise price of the options reduced from $0.50 to $0.00.
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It was established in 2012 under the stewardship of Petra Sprekos and Enzo Raimondo of the REIV.

In 2016 Bignold made a rare public comment on the state of the website.

Bignold said the dominant players in the market had been able to press prices higher, putting pressure on commercial property agents. 

"We have a price point that’s very fair and reasonable, and is less than our competitors," he noted. 

<img alt="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/12/17/CommView.jpg">

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Domain Holdings Australia Limited announced its commercial real estate business, Commercial Real Estate entered into a three stage agreement with shareholders of Commercialview.com.au Limited to acquire 100% of the issued share capital in CommercialView.

The acquisition will occur through a subsidiary of Domain, Commercial Real Estate Media Pty Limited (“CREM”), which is currently approximately 70% owned by Domain and 30% owned by members of the commercial real estate industry.

The consideration for the proposed transaction is anywhere between $4.2 million and $17.2 million, contingent on targets relating to the future financial performance of the CREM and CommercialView businesses. 

The on-target consideration is $10.2 million, which is equivalent to four times the projected increase in EBITDA from the transaction for calendar year 2020, including synergies.

The maximum consideration for the acquisition is $17.2 million of which a maximum of $2 million is payable in cash. The remainder is payable in newly issued shares in CREM.

Domain Group CEO Jason Pellegrino said there had been unanimous support for the transaction from CommercialView shareholders.

The commercial property website recently reported another loss in its annual results which gave its revenues as $1.6 million.

It was segmented into $440,000 subscription revenue, $150,000 banner advertising and over $1 million in depth revenue.

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The 2018 financial year loss of the company after providing for income tax amounted to $8,500 compared to its $428,000 loss in the prior year.

Its directors, who noted it was a high demand/low supply commercial property market, slashed marketing expenses from $386,000 to $255,000. 

"For a portal, this is a difficult market to extract revenue as not only stock levels are low, but when stock is listed it generally move fast and doesn’t require large ongoing advertising budgets. 

"Total new listings that hit the CVIEW portal in FY18 compared to FY17 were down 21 percent and listings for sale were down 29 percent yoy. 

"This creates a large void for listing upgrade opportunities particularly investment stock which generally attract a larger advertising budget."

The revenue focus for the year was seeking upgrade opportunities for remaining sales stock and also to leverage the larger proportion of leasing stock in the market.

The business has had a "clear strategy" of tightening up on expenses without negatively impacting the operations, which resulted in a 22 percent reduction in expenses and $150,000 positive full year EBITDA and an $88,000 increase in cash balances for the year. Its assets included $474,000 in cash and $193,000 in trade receivables.

Its deferred tax assets sit at $700,000 plus.
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Completion of the proposed transaction is targeted to occur on 21 December 2018.

The consideration is payable in three tranches, partially contingent on targets relating to the future financial performance of the CREM and CommercialView businesses, as follows:

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	a payment of $4.2 million to be paid at completion as a combination of cash and CREM shares, amounting to approximately a 3.7% equity interest in CREM;
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	a second payment payable in early 2020, in the range of $0 to $5 million to be paid as a combination of cash and CREM shares; and
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	a third payment in early 2021, in the range of $0 to approximately $8 million payable in CREM shares.
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jchancellor-FAypfDUnLy

Commercialview.com.au sold by estate agents to Domain

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The time it takes for first home buyers to save 20 per cent deposit for an entry-level house has risen in the last 12 months, according to date released by Domain.
The Domain First Home Buyers Report, which is based on a couple aged 25-34 years old, found first home buyers of houses in Sydney and Melbourne had to save over six years for a house deposit of 20 per cent, up 2.6 per cent on last year.
That's an extra two months for each capital.
Melbourne prospective buyers of a $600,000 entry level house price would take six years, Sydney six and a half for their entry level price of $680,000.
The biggest jump since the same report last year came in Canberra, closely followed by Hobart.
It would take five and a half years in Canberra for a 20 per cent deposit on a $606,500 house, up 5.6 per cent from last year.
Hobart's surging house prices has seen a 6.4 per cent jump in amount of time needed to save since last year, equating to an extra three months.
An entry level home, now $380,000, would take four years and two months to save for in the Tasmania capital.
First home buyers in Perth and Darwin Perth and Darwin have a shorter journey to save for a deposit, with the average time taking less than three and a half years
<img src="https://www.urban.com.au/images/2020/9/24/Time%20to%20buy%20houses%20Domain.png" alt="">
<h1 dir="ltr">Units</h1>
The length of time to save for an apartment has also jumped across most of the capitals, although Perth, Darwin and Brisbane saw their time slashed.
Brisbane's entry to buy an apartment is now -4.9 per cent less than it was last year, now three years and three months, with an entry level unit costing $328,000.
Melbourne and Sydney's time to save increased by a month over the year, Sydney now at five years and seven months and Melbourne at four years and three months.
 
<img src="https://www.urban.com.au/images/2020/9/24/Time%20to%20buy%20units%20Domain.png" alt="">
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jrobinson-rf4aSBido9

FHB's take six and a half years to afford their first house: Domain

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Adelaide was one of only three cities to record house price growth over the June quarter.
It pushed the city’s house prices to a record high of $553,036.
Unit prices did, however, slip by almost $10,000 over the June quarter. 
<img src="https://mcusercontent.com/b16c0b957ea98f662ab985606/images/ac4c1516-3aa3-40b4-a686-21aec5bae5f9.png" data-imagetype="External">
June 2020 QoQ change for Adelaide house and unit prices
“Adelaide was one of only three cities to record house price growth over the June quarter, along with Hobart and Canberra. While it was a modest 0.2 per cent lift, this has pushed house prices to a record high of $553,036. This is a better outcome than the other capital cities that plunged into declined, reinforcing the stability of the Adelaide housing market even amid the economic fallout of COVID-19. However, unit prices slipped 2.9 per cent over the June quarter, reversing part of the strong growth recorded over the first three months of the year, to $319,266.”
“Low interest rates, unprecedented government stimulus and extended mortgage repayment relief measures have sheltered house prices from any substantial falls to-date. A pullback in buyer and seller activity throughout the height of the lockdown also helped. Economic headwinds could still disrupt Adelaide’s market stability, with weak employment prospects a persistent thorn in the economy which will heighten due to health crisis. However South Australia is less reliant on international tourism than other states and more reliant on interstate tourism. Once borders reopen, the state could benefit from the increase in Australians taking holidays locally.”
“The outlook for residential property has improved vastly in recent weeks. Sentiment towards housing and the purchase of a home has bucked the overall more negative sentiment around the broader economy. South Australia had one of the biggest improved sentiment towards the time to buy a dwelling which reached a six-month high nationally. Affordability is clearly front of mind of mind for prospective buyers, with Adelaide offering one of the lowest purchase prices of all the capitals as well as offering buyers a great lifestyle. Demand could be increased by Australia’s success in dealing with the global pandemic compared to other countries, making it an attractive destination to reside, particularly towards lifestyle regions,” said Domain Senior Research Analyst, Dr Nicola Powell.
 
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j.ballantyne1990-6AQqhLzZaK

Adelaide house prices reached a record high this quarter: Domain

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Greater Brisbane house prices fell by $8,000 over the June quarter, the first quarterly fall in a year and the steepest in almost nine years.
Unit prices also declined by just over $16,000 in the June quarter.
A two-speed property market has developed across Brisbane; with Brisbane City, Moreton Bay, Scenic Rim and Somerset house prices falling over the quarter, while Ipswich grew, and Logan remained stable.
<img src="https://mcusercontent.com/b16c0b957ea98f662ab985606/images/dd2bb747-bdfd-4fd8-9ecb-60529f175ce2.png" width="597" height="199" data-imagetype="External">
June 2020 QoQ change for Brisbane house and unit prices
“Greater Brisbane house prices fell 1.4 per cent over the June quarter. This is the first quarterly fall in a year and the steepest in almost nine years. However house prices remain higher compared to last year, marking seven-and-a-half years of annual capital growth. A two-speed property market has developed across the LGAs with Brisbane City, Moreton Bay, Redland, Scenic Rim and Somerset house prices falling over the quarter, while Ipswich grew, and Logan remained stable.”
“Prior to COVID-19, there was promising growth in prices for Greater Brisbane. Although this has reversed in the June quarter, the fall in prices to date has been minimal considering the economic aftermath of border closures and shutdowns. An initial pull back in seller and buyer activity during the lockdown acted to underpin prices, government financial support has kept distressed or urgent sales minimal, and incentives have encouraged buying journeys to begin.”
“The outlook for residential property has improved vastly in recent weeks. Sentiment towards housing and the purchase of a home has bucked the overall more negative sentiment around the broader economy. Nationally the time to buy a dwelling pushed to a six-month high according to the Westpac Melbourne Institute Index of Consumer Sentiment. Affordability is clearly front of mind, with the biggest jumps in Queensland, South Australia and Western Australia.”
“Sunshine Coast and Gold Coast housing values outperformed Greater Brisbane over the June quarter. Gold Coast houses pushed to a new record of $660,000 following a 1.5 per cent quarterly growth, while houses on the Sunshine Coast nudged marginally lower. Unit values held across both cities over the June quarter, with Sunshine Coast units at the record achieved last quarter. Despite the devastating impact of the bushfires and the coronavirus pandemic housing values are steady illustrating the desirability of coastal lifestyle regions,” said Domain Senior Research Analyst, Dr Nicola Powell.
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Brisbane house prices see their steepest fall in 9 years: Domain

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Melbourne’s house and unit prices declined over the June quarter, the market’s first fall since early 2019 and the deepest quarterly fall of all the major capital cities.
With Inner Melbourne, the inner east and inner south seeing price declines, opportunities are growing for prospective buyers to enter the market
<img src="https://mcusercontent.com/b16c0b957ea98f662ab985606/images/54036863-9430-4062-a6a1-a416e52344a5.png" data-imagetype="External"> June 2020 QoQ change for Melbourne house and unit prices
“Melbourne’s record high house price achieved last quarter was short-lived: prices tumbled 3.5 per cent over the June quarter. House values have fallen $32,000 and units $9,000 over the first quarter to show the impact of COVID-19. Prior to this, Melbourne house prices had made a full recovery from the 2017-19 slump. This quarter marks the first fall since early 2019 and is the deepest quarterly fall of all the major capital cities. Affordability appears to be front of mind for buyers, with more substantial falls in the city, the inner east and inner south, while the outer areas remain stable or have risen. Units have held up better than houses, falling a more moderate 1.7 per cent over the June quarter. It is the opposite trend for Melbourne units, with the price slump concentrated in the affordable areas of the south east and west.”
“Home owners have been provided with a lifeline during this economically challenging time through the intervention of the banks and government: the JobKeeper subsidy as well as a more generous JobSeeker payment which have both been extended, along with the banks offer to pause mortgages. These will minimise the number of urgent or distressed sales, which will in turn support prices. The risks become far greater once these initiatives cease. That said, evidence suggests further price weakness - in June 13.4 per cent of sellers reduced their asking price, five times higher than the same time last year.”
“Melbourne’s property market outlook has adjusted in recent weeks as the city enters its second lockdown. The full impact of the first economic shutdown was clearly evident in the June quarter. Sales activity, listings and clearance rates fell in April. However the rebound was swift as restrictions eased, confidence lifted from the April lows, vendors returned, and more buyers decided it was a good time to purchase - nationally rising to a six-month high. The second lockdown will stall this momentum temporarily,” said Domain Senior Research Analyst, Dr Nicola Powell.
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Melbourne property prices hit hardest in June quarter: Domain

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Domain Group trading in the FY20 March quarter saw a small revenue increase of 1% for the quarter, and 10% in the month of March.
Digital revenue also increased, 3% for the quarter and 15% for the month of March despite the shutdown being introduced.
Domain has strengthened its liquidity position by reaching agreement with its banking group for a new debt facility of $80 million, with a term of 18 months.
The facility is in addition to the $225 million facilities announced to the market on 8 November 2019, with terms of three and four years.
Domain’s banking group has also agreed to a waiver of the group’s financial covenants as at June and December 2020. Domain’s net debt at 31 March 2020 was $149.5 million compared with $147.9 million at December 2019.
Domain has launched a voluntary staff program to deliver a 20% reduction in staff costs, while retaining employee talent and business momentum for the long term.
Employees were offered the opportunity to participate in a Share Rights program whereby they could receive a percentage of their salary package over the next six months in share rights (Rights), or alternatively elect to reduce working hours.
Both options have the effect of reducing staff costs over the next six months.
The plan has been overwhelmingly supported by Domain employees, with the majority electing to take a percentage of their salary in Rights.
Domain’s Leadership Team has elected to participate at higher rates: 30% for executive leaders and 50% for the CEO and Board members. The plan will take effect for six months from May 2020.
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Domain has announce surprise March revenue growth

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Nine Entertainment has suspended publication of its newspaper insert, Domain, forcing staff to take leave.
As real estate vendors withdraw properties from sale, the Nine managing director of publishing Chris Janz told staff at newspapers, The Sydney Morning Herald, The Age and The Australian Financial Review there had been “significant advertising cancellations that would force sections and magazines to be suspended to secure the future of our business”.
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“Unfortunately we are not immune from the unprecedented economic and advertising downturn caused by the crisis,” he said.
“These temporary measures will be continually reviewed and the sections will be reinstated as conditions improve.”
“While subscriber numbers are building, the growth does not offset the significant number of advertisers cancelling or reducing spend,” Mr Janz said in an email to staff.
News Corp Australia (publisher of The Daily Telegraph and The Australian) announced last week that it will be reducing pagination and this week announced it was cutting local newspaper production.
It will affect the print publication of 60 community titles across NSW, Victoria, Queensland and South Australia with the titles paused from April 9.
The Mansion magazine in the Weekend Australian is set to be published in April.
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Domain has suspended its print publications in coronavirus crisis

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Domain has experienced a doubling in the decline of new web listings as its annual net profit fell 29 percent. 
Nationally, Domain new listings declined around 12 percent, double the 6 percent decline reported in the first half result.
The real estate website lost $6.2 million last year.
It said revenue for the year to June 30 rose by almost 20 per cent to $343.3 million but the bottom line was hit by previously announced impairments of $179 million.
The yearly results show revenue was down 6.1 per cent. The net profit after tax was $37.4 million, down 29.3 per cent.
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Chief executive Jason Pellegrino said it was a solid performance in the context of major listing declines in Melbourne and Sydney.
“For FY19 Domain delivered a solid performance in the context of the challenging year faced by the Australian property market.
"To put this in perspective, property sales as a percentage of Australia's dwelling stock are at their lowest point in more than 20 years."
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 Residential revenue increased 0.5% to around $173 million.
"This is a solid result from Residential in the context of lower listings volumes in key markets, where auction volumes declined around 25% in Sydney and 28% in Melbourne."
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Domain have suggested their proprietary datasets have shown some encouraging signs of buyer activity in the first weeks of FY20, including increased attendance at open for inspections and increased home loan application volumes.
They did noted however that listings volumes remained weak in a seasonally low listings period, with national market new listings declining down 20 per cent in July 2019, with Sydney and Melbourne new listings down 26% and 27% respectively.
Domain's media arm didn't fair much better.
Media, developers and commercial revenue declined around 13 percent for the year.
Pellegrino highlighted financing constraints and other regulatory issues which have shifted market demand from investors to owner-occupiers, and from large high rise developments to smaller boutique projects which require a lower level of marketing support.
Over the financial year Domain acquired CommercialView and increased their stake in Homepass. 
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“During my first 12 months at Domain we have been focused on establishing and driving the strategy which will support our next phase of growth," Pellegrino said.
“Our vision is to build a customer-centric Australian property marketplace. Everyone in our business is working to inspire confidence for all of life’s property decisions.
"There is substantial headroom to step change our performance by using our data to build products and offerings that better meet the needs of buyers, vendors and agents.”
"Domain is better placed than ever to deliver on our growth ambitions. This will be further supported as the market returns to a more positive listings environment.
“Our relationship with Nine provides opportunity to expand Domain’s reach and engagement through Nine’s broadcast and digital assets, and we’re excited about the upcoming launch of a new Your Domain TV show on September 7th.”
Shares rose four per cent to $3 in morning trade. It was at $3.50 this time last year.
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Domain sees decline in new listings double as net profit falls 29 percent

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Domain Group has launched a new school-based search experience allowing property-searching parents to search by school name.
It is aimed at parents with specific schools or school catchments in mind to access school information in their property search.
When parents search by school names, they will get access to up to date information such as school types, gender mixes, and properties for sale or rent within the school catchment. 
Maty Paule, Chief Product Officer at Domain, commented that 50% of the parents told us that nothing was "more important than being able to send their kids to a certain school, or to be confident in the school catchment areas around their new property".
"Properties within highly-regarded school zones can boost house prices, and the information parents attain when they search by school names on Domain can add depth to their property decisions in the long term," he said.
Search by school name on Domain will enable parents in Australia to:
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Find properties to buy or rent that meet specific criteria and are located within desired school catchments. 
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Immediately see which school catchment their property falls in, along with a list of nearby government and non-government schools. 
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Access important information for schools across Australia, including location and catchment maps, school types, gender mixes and year ranges. 
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View travel times from a property to a school by car, public transport and walking during the busy morning drop-off.
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Domain launches school-based search for property-hunting parents

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Rental prices for Sydney houses and units fell over the June quarter and are down year-on-year, the recorded fall broke a 15 year record for annual rental prices in Sydney, according to Domain's latest quarterly rental report.
Sydney unit rents fell by 0.9 per cent in the quarter and 4.5 per cent over the year. Despite this fall, Sydney remains the most expensive capital city to rent a unit by a significant margin. Ongoing strong construction of new housing has weighed on rents, and also contributed to the vacancy rate increasing to 3.2 per cent in June, up from 2.4 per cent one year ago.
Rents held up the best on the Central Coast and on Sydney's north shore, but fell in other Sydney regions. Due to significant property price falls over the past year, rental yields have risen slightly in Sydney.
Domain found, despite experiencing a fall in rental prices, Canberra remains the nation's most expensive capital to rent a house, followed by Sydney. Canberra unit rents have grown 18 per cent over the past three years, despite an apartment construction boom.
Weekly rents for houses in Darwin have now fallen from $700 in 2014 to $490, while Darwin unit rental prices have dropped over the past five years from $570 to $385.
Perth remains the most affordable capital city to rent a house in Australia.
<img src="https://www.urban.com.au/images/2019/7/11/Domain%20q2%20rental%20report.JPG" alt="">
Melbourne
Domain said, "Melbourne house rents fell 2 per cent in the June quarter, but remained unchanged over the year at $430 per week, while unit rents increased by 2.4 per cent over the year. Rent on a typical unit has grown 14 per cent over the past five years to $420,  despite the city's biggest apartment construction boom occurring during this time."
:House rents also increased 13 per cent during this timeframe." "Strong population growth, which has averaged 2.6 per cent a year since 2013, has created ongoing demand for rental properties. Melbourne's vacancy rate remains low, but has increased to 1.7 per cent from 1.3 per cent a year ago." "Over the past year, house rents grew fastest in the Mornington Peninsula and in Melbourne's inner-south, but were unchanged in Melbourne's eastern suburbs. Rents grew by more than 5 per cent in most regional cities over the past year." "Rental yields have risen for houses and units due to significant price falls over the past year."
Brisbane 
Domain researchers said, "rental prices for houses in the Greater Brisbane region fell in the June quarter but remained unchanged year-on-year."
"Unit rental prices were unchanged over the quarter but grew by 2.7 per cent over the year."
"The typical house is now rented at $400 per week and a typical unit $380 per week."
"Unit rentals have held up well in recent years, even as a large supply of new apartments have been built."  "Brisbane's rental vacancy rate fell from 2.6 per cent to 2.2 per cent over the past year, which is a sign of a strengthening rental market." "House rents were steady in most parts of Brisbane over the past 12 months, but unit rents increase 6 per cent in the inner city."
"House and unit rents grew by about 2 per cent on the Gold Coast and the Sunshine Coast." "Rental yields for Brisbane units have risen slightly due to prices falling over the past year, whereas yields for houses have been steady."
Adelaide
According to the report, "house rents in Adelaide fell 1 per cent in the June quarter, but increased by 2.7 per cent over the year. Unit rents increased by 1.7 per cent over the year."
"The typical unit in Adelaide rents for $305 per week, which is the cheapest across all capital cities."
"Adelaide's vacancy rate remains low, and has declined to 1 per cent from 1.2 per cent a year ago." "Rents increased modestly in most parts of Adelaide, but in the north of the city house and unit rents remained flat." "Rental yields have risen modestly for units, but yields for houses have been steady."
Perth
Domain experts wrote, "Rental prices for both Perth houses and units have increased over the past year."
"House rents increased by 4.3 per cent over the year to $365 per week, which is $15 above the low points reached in 2017 and 2018."
"Nonetheless, Perth is still the most affordable capital to rent a house. Unit rents increased by 3.3 per cent in the quarter to reach $310, the highest since 2016." "Over the past 12 months, rents for houses and units increased in all areas of Perth, except for the south east." "In another sign of a strengthening rental market, Perth's rental vacancy rate has declined from 3.8 per cent to 3 per cent over the past year. Perth's rental market is rebounding off the back of an improving Western Australian economy and a pick-up in population growth." "Rental yields have risen for Perth houses and units due to price falls over the past year and rents rising."
Hobart
Domain analysts stated, "Hobart's rental market is under significant pressure. House rents increased by 9.8 per cent over the year, and unit rents increased by 5.6 per cent."
"House rents have now increased from $350 to $450 per week since 2016 (a 30 per cent rise), while units have jumped $80 to $380. Hobart's rental vacancy rate also remains extremely low, at only 0.4 per cent in June 2019 (this means there were only an estimated 110 vacant properties in Hobart on June 30)." "Despite the rapid growth in rents, Hobart still remains quite affordable compared to other capital cities. New housing construction is increasing -- Tasmanian building approvals are 26 per cent higher than the previous year -- which should help slow rental price growth in the coming year." "Rents increased strongly in all parts of Hobart over the past year, but particularly in the south and west parts of the city. Launceston rents also grew by 10 per cent in the past 12 months." "Due to strong property price growth, rental yields only increased modestly for houses and were steady for units."
Canberra
Domain said, "Canberra has retained the title as the most expensive capital city to rent a house."
"Canberra house rents fell 3.5 per cent in the June quarter, but were unchanged over the year at $550 per week, while unit rents increased by 4.4 per cent over the year and now sit at $470."
"Unit rents have now grown 18 per cent over the past three years, which has occurred despite Canberra's ongoing apartment construction boom." "Strong population growth, which has averaged 2 per cent a year for the past two years, has created ongoing demand for rental properties. Canberra's rental vacancy rate remains low, but has increased over the past year to 1.3 per cent (from 0.8 per cent)." "Rents increased in all Canberra districts over the past year, except for house rents in North Canberra, which fell slightly." "Rental yields for Canberra houses and units have risen modestly due to prices falling over the past year."
Darwin
In regards to Darwin, Domain experts stated, "Darwin house rents fell by 2 per cent over the past year, while unit rents fell by 3.8 per cent."
"Weekly house rents have now fallen from $700 in 2014 to $490, while units have dropped from $570 to $385."
"Following strong population growth during the mining boom, Darwin's population has declined, which has meant less demand for rental properties."
"Darwin's vacancy rate has fallen recently, but remains elevated at 3.5 per cent." "Rental yields have fallen for houses but remained steady for units."
Key findings from <a href="https://www.domain.com.au/research/rental-report/june-2019/" target="_blank">Domain's Q2 Rental Report</a>: Houses
<ul>
<li>Despite experiencing a fall in rental prices, Canberra remains the nation's most expensive capital to rent a house, followed by Sydney. </li>
<li>Rental prices for houses in the Greater Brisbane region fell in the June quarter, but remained unchanged year-on-year.</li>
<li>It is more expensive to rent a house in Hobart than Melbourne. Hobart remains the fourth most expensive city to rent a house behind Canberra, Sydney and Darwin.</li>
<li>Weekly rents for houses in Darwin have now fallen from $700 in 2014 to $490, reflecting less demand as the city’s population decreases.</li>
<li>Adelaide house rents continued to rise in the June quarter, with gross yields remaining steady.</li>
<li>Perth remains the most affordable capital city to rent a house in Australia.</li>
</ul>
Units
<ul>
<li>Sydney remains the most expensive capital city to rent a unit, despite prices falling by almost 5 per cent over the year.</li>
<li>Melbourne house rents remained unchanged over the year at $430 per week, while unit rents increased 2.4 per cent over the year. </li>
<li>Brisbane unit rents increased by 6 per cent in the inner city, and by 2 per cent on the Gold Coast and the Sunshine Coast.</li>
<li>While Adelaide unit rents have increased by 1.7 per cent over the year, the typical unit rents for $305 per week, making it the cheapest across all capital cities.</li>
<li>Canberra unit rents have grown 18 per cent over the past three years, despite an apartment construction boom.</li>
<li>Darwin unit rental prices have dropped over the past five years from $570 to $385.</li>
</ul>
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