Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

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Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

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Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

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The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

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A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

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The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

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North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

Domain

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The Fairfax-backed Domain Group has told staff it was undertaking a HR review of its workplace culture.
It coincides with a series of three articles this week by The Australian Financial Review with allegations of a "Wolf of Wall Street atmosphere" where its former chief executive Antony Catalano allegedly led a “high octane, blokey, boys' club.” 
Catalano was unavailable for comment to Fairfax Media reporters this week, but The Australian reported he had engaged defamation lawyer Mark O'Brien.
An email was sent to Domain employees on Wednesday by the acting executive chairman Nick Falloon who pledged to undertake a review of its working environment.
Falloon’s email to all Domain staff said they “would have seen the AFR report this morning regarding Domain”. There have been two further articles as Fairfax Media ratcheted up the pursuit of their former executive.
The latest article is today headlined, "Antony Catalano: The fall of a party boy."
The Aaron Patrick piece write-off alleged "the Domain CEO represents the first Australian corporate casualty of the worldwide movement against inappropriate workplace behaviour triggered by Harvey Weinstein."
<p data-reactid="416" data-gtm-vis-recent-on-screen-6236702_632="203531" data-gtm-vis-first-on-screen-6236702_632="203531" data-gtm-vis-total-visible-time-6236702_632="100" data-gtm-vis-has-fired-6236702_632="1">Fairfax holds a 60 per cent stake in Domain. The Catalano-led division, mostly Melbourne-based, previously reported directly to the Sydney-based Fairfax chief executive Greg Hywood.
“Be assured that the board and management are committed to ensuring that Domain is an employer of choice. Our future prosperity is based on the quality of our people and creating a positive, safe and welcoming workplace,” Falloon told Domain staff.
“We believe Domain has done well in this regard. But we can always do better.
“Accordingly, we have recently commissioned a review of our working environment. We ask that you all participate in this review so we can further improve our workplaces for the future.”
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jchancellor-FAypfDUnLy

Fairfax turns on Catalano as Domain chairman seeks HR workplace environment review 

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The hardworking Domain senior economist Dr Andrew Wilson has been missing from zealously offering his commentary on property markets for several months.
An official announcement headlined "Dr Andrew Wilson resigns from Domain" came on his LinkedIn on the weekend.
"On October 25th last year, I resigned as Chief Economist for the Domain Group," he advised.
He was however noticeably absent from early October.
His predecessors include Matthew Bell, who left in 2010 for Stockland, and Louis Christopher who leads SQM.
"My resignation concluded seven years employed by Fairfax brands Australian Property Monitors and Domain Group. 
"Following my resignation notification, Domain enforced the ‘garden leave’ provision of my three month notice period. 
"This provision precluded me from having any contact with workmates, clients, the media and the wider community through my various social networks.
"With my garden leave and Domain Group employment finally concluded, I will now activate my role as Australia’s leading independent property market economist," he advised.
The background, according to some Fairfax-linked sources, is that Dr Wilson felt unappreciated by Domain's chief editorial and marketing officer, Melina Cruickshank, who has been responsible for the increased trivialisation of property coverage since she joined Domain in October 2014.
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This time last year Dr Wilson anticipated capital city housing markets would see mixed results in 2017, but he advised there would "no surprise" that Sydney and Melbourne were likely to continue to lead.
It was likely that other capitals would remain steady, with price growth generally constrained by low income economies, he said.
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"Lower interest rates in 2017 are likely to continue to bolster housing markets, with an increasingly underperforming national economy almost certain to require further stimulus from the Reserve Bank," he forecast.
House price growth, although remaining positive in most capitals through 2017, would likely track in a narrow range of up to 5 percent annually for the top performers, Dr Wilson tipped.
"The Darwin and Perth markets were set to bottom out in 2017, following a lengthy period of weak activity with prices at three year lows," Dr Wilson forecast.
He tipped that unit markets would continue to be influenced by significant levels of new apartments, acting to push supply ahead of demand.
The Sydney unit market was forecast to remain strong, due to a chronic undersupply of units and solid demand, holding prices strong. 
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"Record new apartment supply in the Melbourne CBD will continue to outstrip demand, with downward pressure on prices to continue in that submarket," he suggested.
"Strong demand and lack of supply for suburban units, however, will offset the weaker CBD market.
"This means that overall Melbourne unit prices growth is likely to remain positive over the year," he forecast.
(An earlier version mispelt Melina Cruickshank as Melinda) 
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j.ballantyne1990-6AQqhLzZaK

Economist Dr Andrew Wilson formally resigns from Domain Group

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Former Domain boss Antony Catalano, who unexpectedly stepped down from the recently listed company, will not apologise to the Domain shareholders after the exit announcement triggered a sharp downturn in the share price.
The share price initially plunged 17 percent after the Melbourne-based chief executive cited family reasons for not wanting to continue the job.
When asked by the Herald Sun who interrupted his morning coffee run at Sorrento whether he though investors deserved an apology, Catalano replied "Why should I be sorry?"
Opening the back door of his car to show his children in booster seats, Catalano said "see those guys?"
His next words were "go away - seriously," before he made a swift exit in his four wheel drive.
Catalano was looking relaxed ahead of a planned trip to Aspen.
Catalano's resignation, which he said was because he didn't want to move to Sydney for family reasons, is reported to have cost him a possible $13 million.
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Remuneration details released to the ASX revealed showed Domain cancelled the 4.26 million share options Catalano would have received if he had hit targets, such as doubling Domain’s value by June 2021.
After the announcement, Domain chairman Nick Falloon called investors to assure them that Domain "have a deep bench of executives built up over the years," according to the Herald Sun.
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Fairfax Media, which holds 60 percent of Domain shares, were also hit hard.
They are down $90 million from the start of the week.
It was just last November when Domain was spun off Fairfax Media and floated on the ASX with a share price of $3.69. They now sit at $3.11 after crashing to $2.75.
The Australian has speculated Catalano had not embraced the new reporting requirements with Falloon as his new report, rather than his good mate, Greg Hywood.
Fairfax Media noted Catalano’s allies were disappointed he was not formally thanked for his contribution.
Gerard Delany, boss at Melbourne real estate agency Kay &amp; Burton, said he was surprised and thought he was “getting a bit jack of travelling.”
“I also noticed there was no [acknowledgement of Mr Catalano] made by the company when he left which surprised me a bit because he played a pretty big part in the establishment of that Domain offshoot, which was a pretty great achievement,’’ Delaney told Fairfax Media.
Despite not having spoken to Catalano, Delany said he doubted the travel was the "real reason'' for the departure.
''He is a bit of a character, he has got a big family, it has been a drain because he didn't want to move to Sydney, maybe to some degree he has achieved what he set out to achieve and now he has done it, I don't think he is an ongoing managerial type of character,'' he said.
 
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jonathanchancellor-7SQnKwU6yx

Former Domain boss affirms he's happy to put family first

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Fairfax Media should turn to the former REA Group head Greg Ellis, investors have suggested.
It follows the shock resignation of Domain Group Australia chief executive Antony Catalano.
Catalano sent shares in both companies plunging on Monday when he resigned, citing family pressures, just two months after Domain floated on the ASX on a separate share market listing from Fairfax, its parent company and majority shareholder.
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Patrick Potts, an investment analyst at Martin Currie, which owns more than 5 per cent of Fairfax, indicated they would be happy if the international search settled on Greg Ellis, who as chief executive of REA Group from 2008 to 2014 helped create the leading property website company.
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The Melbourne-based Catalano, who decided the Sydney workload was too great given he has eight children, will have to forgo 4.2 million options issued less than two weeks ago and won't receive a termination payment.
As Domain's largest individual investor, his resignation cut the value of his own stake by 17 per cent to $7 million. Fairfax shares fell 8 per cent on the news to 66¢ with chairman Nick Falloon to step in and run Domain until a new CEO is appointed. 
Ellis, who owns a Balwyn home, might not be available because of his current contract with Scout24, a large German real estate and car web sales business he runs.
It is a Frankfurt Stock Exchange-listed online classifieds business.
And this morning a spokesman for the company told Fairfax from Berlin that "Greg Ellis is fully committed to Scout24." 
"Irrespective of this he will contribute his expertise to the further development of the Domain Group in his role as a member of their supervisory board."
 
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Greg Ellis suggested as Antony Catalano's Domain replacement

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The chief executive of online real estate advertising company Domain has suddenly quit just two months after it listed separately on the share market. 
Domain was spun off from Fairfax Media and commenced trading on the ASX last November.
He has worked for Fairfax and Domain on and off for 26 years.
The company's chairman Nick Falloon is stepping in as executive chairman, as a search for a new CEO immediately commences.
Falloon said Catalano had informed the board over the Christmas break that the demands of his role and his absence from the lives of his family were more challenging than he had expected.
"It's not fair on the family," he said adding that he was grateful for the opportunities at Domain.
In a statement, the Melbourne-based father of eight who owns property in St Kilda West, Caulfield North and Byron Bay, advised family reasons for the exit. 
"When I re-joined Fairfax in November 2013, I made a commitment to my young family that I could be there for them and do the job," he said in a statement.
"It has become clear to me that doing the job of a listed company CEO the way it needs to be done means that I am not meeting that family commitment."
"It was also become apparent that I needed to relocate to Sydney and that was something I wouldn’t ask my family to do because schooling and family requirements would see young family members living in different cities.
"As it stands, I have been away from home for the bulk of each week and it’s not fair on the family.”
He noted the timing of the resignation, but said he was confident Domain’s team could keep the company on its current trajectory.
“I understand and regret that the timing of this decision is unusually short from Domain’s listing. But having been in the role for four years, I resign knowing that Domain has a great management team in place and I have every confidence in them and the business continuing on its current stunning trajectory.
In a statement to shocked staff, Fairfax chief executive Greg Hywood advised that it was "business as usual for Domain".
At 10:30am, Domain shares were 11 per cent lower at $2.93. The stock is now down 22 percent from its $3.80 listing price in November 2017.
Domain will report its first-half financial results on 19 February. 
In the announcement to the ASX today, the company said based on preliminary unaudited pro-forma results, it was expected to report digital revenue growth of 22% against the same period last year and revenue growth of 13%. 
As a top 20 Fairfax shareholder, Catalano owns 0.32 per cent of the company’s stock, according to Bloomberg. 
Fairfax Media kept a 60 per cent stake.
 
 
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Melbournite Antony Catalano's shock departure from Domain as family demands 

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Hobart continues to take the baton from Sydney and also Melbourne as the nation's hottest housing market. 
The Sydney median unit rental price has dropped back from its peak, falling back below median house rental prices for the first time in six months.
House rental prices in Melbourne were up 1.2 per cent over the quarter, hitting a new high.
But Hobart has had the  strongest annual growth in house rental prices on record, surging 12.9 per cent.
Both unit and house rental prices rise in Canberra and Hobart. House rental prices remain steady over the quarter in Sydney, Brisbane and Perth.
Canberra, Darwin, and Hobart deliver strongest unit yields for investors.
Brisbane, Darwin, Hobart deliver strongest house yields for investors.
Domain December Rental Report <img src="https://gallery.mailchimp.com/b16c0b957ea98f662ab985606/images/c061336a-9e53-4b7b-92b0-d1702698537a.png" width="600" height="597">  
Rental prices for the December quarter demonstrated that Australia’s capital city markets are operating on different property cycles, as Sydney unit rental prices ease slightly, while Canberra and Hobart markets continue to grow, according to Domain’s quarterly Rental Report.
"Prices in Australia's rental market are mixed, with varying levels of population growth, residential construction and investor activity producing different market conditions across the nation's capital cities.
“There were diverse changes in median rental prices across the capital cities over the quarter. While many markets held steady, there were also capitals with a growth in median asking rental prices. Canberra and Hobart, two cities at opposite ends of the affordability spectrum, saw the greatest price growth. Even though there’s a distinct gap in their median rental prices, it’s clear that tenants in both cities are facing a competitive rental market,” said Domain Data Scientist, Dr Nicola Powell. 
Rental yields
For investors, Hobart continues to provide the best gross rental yields for houses with 5.34 per cent recorded over the December quarter. Sydney and Melbourne continue to record the lowest gross rental yields for houses of all capital cities, sitting at 3.08 per cent and 3.20 per cent respectively.
Canberra is the top performer for gross unit rental yields, recording a result of 5.80 per cent over the quarter, closely followed by Darwin at 5.67 per cent and Hobart at 5.52 per cent.  
Capital city markets  
Sydney
Median weekly rental prices for units in Sydney’s competitive rental market decreased over the quarter, with median rental prices falling 0.9 per cent to $545 per week. The $5 drop makes unit rental prices lower than house rental prices for the first time in two quarters. Despite the quarterly decline, median unit rental prices are 4.8 per cent higher than the same time last year.
Median house rental prices remained steady over the quarter at $550 per week. House rental prices have seen no price movement for three quarters and have grown only 1.9 per cent year-on-year.
“If investor activity continues to decline in Sydney it could tighten the rental market in 2018. However, the value of building completions is reaching a high, providing a boost to unit rental stock.
“The trend is likely to continue over the coming months, as stock from off-the-plan sales comes onto the market. This could provide tenants with a greater choice in certain pockets of Sydney,” said Domain Data Scientist, Dr Nicola Powell.  
Melbourne
Median weekly house rental prices gained 1.2 per cent over the December quarter and 3.7 per cent year on year, to a new record high of $425 per week.
Median unit rental prices in Melbourne have increased 5.3 per cent annually to $400 per week, and remained steady over the quarter. A difference of $25 now exists between house and unit rental prices, with price gains growing more rapidly for unit rental prices than house rental prices. If this rate continues, prices may eventually be on par, mirroring the trend previously seen in Sydney.
“As the impact of tighter investor lending continues to unfold it is likely to drive competition for available rental stock. The capital’s soaring population, spiked by all three population drivers (natural increase, overseas and interstate migration) and less available rental stock will put additional pressure on rental prices,” said Domain Data Scientist, Dr Nicola Powell.  
Brisbane
Brisbane house rental prices remained stable at $400 per week over the December quarter. It was the only capital city market with no change to house rental prices both over the quarter and over the last 12 months.
Median unit rental prices decreased 1.3 per cent over the year, however prices held steady over the quarter at $370 per week.
“It has been roughly half a decade since investors in Brisbane saw a significant growth in rental prices. Prices in the capital have continued to be impacted by high levels of unit development giving landlords little ground to raise rental prices,” said Domain Data Scientist, Dr Nicola Powell.  
Adelaide
Adelaide’s median house rental prices grew 2.8 per cent over the December quarter and the year, reaching $370 per week. The quarterly growth was the first gain for Adelaide house rental prices following three quarters of prices holding steady.
Median unit rental prices in Adelaide remained flat over the December quarter, at $295 per week. Adelaide is the most affordable rental market of all the capital cities, despite a 1.7 per cent gain year-on-year.
“Adelaide continues as a relatively steady market, with units delivering stable returns for investors in the market. Available house stock has now tightened for three consecutive quarters providing a short term pressure and growth in median rental prices,” said Domain Data Scientist, Dr Nicola Powell.
 
Perth
Median house rental prices in Perth held steady this quarter at $350 per week. The median rental price fell 5.4 per cent over the year, but the rate of decline is now easing.
Median unit rental prices were also stable over the December quarter, at $300 per week. The median has now held flat for four consecutive quarters, which is the longest period of quarterly stability in Perth’s rental price history (recorded since 2004).
“Perth continues to be one of the nation’s most affordable rental markets and was the only capital city with an annual decline in house rental prices.
“While falling rental prices have become the norm over recent years, the rental market has begun to show signs of transitioning conditions, with hefty declines in rental prices no longer being recorded in Perth’s unit market. Investors in the capital have also seen an annual growth in rental yields for houses,” said Domain Data Scientist, Dr Nicola Powell.  
Canberra
House rental prices in Canberra increased 5.9 per cent over the quarter to reach a new record of $540 per week. Prices are 8.0 per cent higher than this time last year, making the nation’s capital the second strongest market for house rental prices growth.
Canberra was one of the two capital cities with growth in median unit rental prices over both the quarter and year, up 2.4 per cent to $430.
“The healthy quarterly gain in Canberra has helped to push up gross rental yields for units to 5.80 per cent, the highest yielding output of all the capital cities.
“Affordability remains a key issue for Canberra tenants. It is the third most expensive capital city for house rental prices and second for units. If stricter investor lending hits rental stock in the year ahead, it could lead to a further growth of rental prices in an already expensive market,” said Domain Data Scientist, Dr Nicola Powell.  
Hobart
Over the December quarter, Hobart median house rental prices had the highest rate of growth on record for the city. House rental prices increased 6.8 per cent over the quarter and 12.9 per cent year-on-year to $395 per week. This is an astounding $45 increase compared to the same time last year.
Hobart was the only capital city to reach double-digit annual growth in house and unit rental prices. Median unit rental prices grew 6.3 per cent over the quarter and a whopping 13.3 per cent annually, to $340 per week.
“Hobart currently has strong levels of migration and not enough rental supply to keep pace. Investors are reaping the highest gross rental yields for houses out of all the capital cities at 5.34 per cent and the third best for units at 5.52 per cent, falling just behind Canberra and Darwin,” said Domain Data Scientist, Dr Nicola Powell.  
Darwin
Darwin’s rental market had a strong quarter of growth in house rental prices, with an increase of 5.8 per cent, setting median weekly rental prices at $550. This growth makes Darwin, alongside Sydney, the most expensive city in which to rent a house in Australia.
Median unit rental prices grew 3.8 per cent over the quarter to $415, with units in Darwin producing the second highest rental yields of all the capital cities at 5.67 per cent.  Overall, unit rental prices for the capital city have fallen, decreasing 5.7 per cent over the year.
“Economic health, investment and population fluctuations have a large impact on the Darwin rental market. This quarter, house rental prices had the strongest growth rate in five years. Units continue to provide high yielding outputs for investors and in the year ahead, it’s likely we will see unit supply levels continue to affect unit values and gross yields,“ said Domain Data Scientist, Dr Nicola Powell.
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Sydney median unit rental prices drop below median for houses: Domain rental report

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Fractional investment company DomaCom has announced an agreement with newly listed, Domain to integrate the full suite of Domain property listings into the DomaCom crowdfunding platform. 
DomaCom CEO, Arthur Naoumidis suggests it was a significant new integration for DomaCom that "will be critical in taking property crowdfunding into the mainstream."
He expects it will enable Gen Y &amp; Millennials to get on the property ladder by crowdfunding a property of their choice with their friends or family.
DomaCom will also integrate Domain insights into the DomaCom crowdfunding platform to provide investors with unique proprietary market intelligence when making the decision to begin or join a crowdfunding campaign for a property.
Once a campaign starts, DomaCom’s crowdfunding platform facilitates external independent due diligence on the selected property bringing additional rigour to the analysis of the selected property before they invest.  
“Additionally, this innovation will give property owners access to the new crowdfunding revolution simply by listing their properties on Domain and at the same time open up a vast new pool of potential investors to the DomaCom platform,”  Naoumidis said.
"This will accelerate DomaCom’s strategy to target the consumer market directly and scale up crowdfunding campaigns to target Gen Y/Millennials," he said.
"Vendors listing properties with Domain will have an additional buyer channel – at no extra cost," he added.
 
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jrobinson-rf4aSBido9

DomaCom takes property crowdfunding to Gen Y's via Domain

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Listing at noon yesterday, Domain shares opened at $3.80.
The stock traded as high as $3.98, before finishing the day at $3.69, reflecting a near $2.2 million valuation. 
Fairfax Media shares fell 30% to 74¢, due to the loss of a 40% stake in the Domain business that has been given to the publisher's shareholders. 
Fairfax Media, including its 60% stake in Domain, is now worth $1.7 billion, but when excluding Domain, the market is valuing the Fairfax rump at about $400 million.
On its second trading trading day Domain (DHG) was trading at $3.75.
The spin-off, long mooted, but first announced in February, saw Fairfax's existing shareholders given one Domain share for each 10 shares they own in the longtime publisher.
Fairfax returned to its spinoff plans after US private equity firms TPG and Hellman &amp; Friedman dropped out of bidding for the publishing group in July.
TPG Capital had lobbed a $2.76 billion bid.
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Domain hits stock exchange with near $2.2 million valuation

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After recording strong growth last quarter, Darwin’s median house price dropped by 3.6% over the September quarter, to $593,329, according to Domain.
The result is 2.8% lower than the same time last year.
The median unit price is Darwin also decreased, dropping by 6.8% to $330,354 — 30.5% lower year-on-year.
Domain quarterly stratified median prices:
<table border="1" cellpadding="0">
<thead><tr>
<td>
HOUSE
</td>
<td>
SEP 2017
</td>
<td>
JUN 2017
</td>
<td>
SEP 2016
</td>
<td>
QOQ %
</td>
<td>
YOY %
</td>
</tr></thead>
<tbody>
<tr>
<td>
Sydney
</td>
<td>
$1,167,516
</td>
<td>
$1,190,677
</td>
<td>
$1,079,309
</td>
<td>
-1.9%
</td>
<td>
8.2%
</td>
</tr>
<tr>
<td>
Melbourne
</td>
<td>
$880,902
</td>
<td>
$869,598
</td>
<td>
$773,399
</td>
<td>
1.3%
</td>
<td>
13.9%
</td>
</tr>
<tr>
<td>
Brisbane
</td>
<td>
$551,840
</td>
<td>
$552,874
</td>
<td>
$531,767
</td>
<td>
-0.2%
</td>
<td>
3.8%
</td>
</tr>
<tr>
<td>
Adelaide
</td>
<td>
$519,517
</td>
<td>
$520,846
</td>
<td>
$498,971
</td>
<td>
-0.3%
</td>
<td>
4.1%
</td>
</tr>
<tr>
<td>
Perth
</td>
<td>
$554,095
</td>
<td>
$561,391
</td>
<td>
$567,314
</td>
<td>
-1.3%
</td>
<td>
-2.3%
</td>
</tr>
<tr>
<td>
Canberra
</td>
<td>
$723,980
</td>
<td>
$693,962
</td>
<td>
$655,468
</td>
<td>
4.3%
</td>
<td>
10.5%
</td>
</tr>
<tr>
<td>
Hobart
</td>
<td>
$409,592
</td>
<td>
$392,170
</td>
<td>
$356,916
</td>
<td>
4.4%
</td>
<td>
14.8%
</td>
</tr>
<tr>
<td>
Darwin
</td>
<td>
$593,329
</td>
<td>
$615,670
</td>
<td>
$610,510
</td>
<td>
-3.6%
</td>
<td>
-2.8%
</td>
</tr>
<tr>
<td>
National
</td>
<td>
$819,455
</td>
<td>
$823,381
</td>
<td>
$758,367
</td>
<td>
-0.5%
</td>
<td>
10.8%
</td>
</tr>
</tbody>
</table>
Rental prices for both houses and units in Darwin have remained steady over the quarter, sitting at $520 and $400 per week, respectively.
Both the houses and unit figures remained steady over the last three months, the results do indicate a drop year-on-year – by 5.5% and 5.9% respectively.
"The drop of 30.5% in median unit prices year-on-year is indicative of the oversupply of apartments in the city," said Domain chief economist, Dr Andrew Wilson. 
"This same oversupply is highlighted by the annual decrease in median rental prices and is expected to continue until demand and supply are rebalanced.
"Unfortunately, policies that are designed to restrict investor lending, are also impacting those apartment markets where supply is already well ahead of demand."
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Darwin house prices dipping again: Domain

<html><body>
<div dir="ltr" align="left">Sydney’s median house price decreased by 1.9 per cent to $1,167,516 over the September quarter; the steepest decline in house prices of the state's capital cities.</div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">
 It was the first quarterly fall in the local market since December 2015, said Domain chief economist, Dr Andrew Wilson.</div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">
<div dir="ltr" align="left">“The drop in Sydney’s house prices over the September quarter reflects the diminishing impact of the record-low interest rates that have fuelled market recently.</div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">"While Sydney’s property market has been the star performer nationally – with prices essentially doubling over the last five years –  affordability barriers are now acting to slow down demand and moderate price increases.  </div>
<div dir="ltr" align="left">“The significant decrease in investor activity, as well as tightened lending restrictions for residential investors, has had a clear impact on the Sydney market. </div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">"We saw a similar house price dip in 2015, when similar policies were introduced."</div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">Despite recording a decline in both house and unit prices, Sydney clearly remains the highest priced of all capitals, well ahead of the next-highest, Melbourne, Dr Andrew Wilson noted.</div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">
<div dir="ltr" align="left">Sydney unit prices also dropped - by 0.8 per cent over the quarter to $732,321, but despite the decrease, remain 4.5 per cent higher than the same time last year.  </div>
<div dir="ltr" align="left">Median house rents in the Harbour city remained steady at $550 per week, as did median unit rents. </div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">While steady over the quarter, the results are up year-on-year by 3.8 per cent and 4.8 per cent respectively.</div>
<div dir="ltr" align="left">
<div id="1468469170927-5">
<div class="wpb_text_column wpb_content_element ">
<div class="wpb_wrapper">
Domain quarterly stratified median house prices
<div>
<table class="domain-table">
<thead><tr>
<td>HOUSE</td>
<td>SEP 2017</td>
<td>JUN 2017</td>
<td>SEP 2016</td>
<td>QOQ %</td>
<td>YOY %</td>
</tr></thead>
<tbody>
<tr>
<td>Sydney</td>
<td>$1,167,516</td>
<td>$1,190,677</td>
<td>$1,079,309</td>
<td class="negative">-1.9%</td>
<td class="positive">8.2%</td>
</tr>
<tr>
<td>Melbourne</td>
<td>$880,902</td>
<td>$869,598</td>
<td>$773,399</td>
<td class="positive">1.3%</td>
<td class="positive">13.9%</td>
</tr>
<tr>
<td>Brisbane</td>
<td>$551,840</td>
<td>$552,874</td>
<td>$531,767</td>
<td class="negative">-0.2%</td>
<td class="positive">3.8%</td>
</tr>
<tr>
<td>Adelaide</td>
<td>$519,517</td>
<td>$520,846</td>
<td>$498,971</td>
<td class="negative">-0.3%</td>
<td class="positive">4.1%</td>
</tr>
<tr>
<td>Perth</td>
<td>$554,095</td>
<td>$561,391</td>
<td>$567,314</td>
<td class="negative">-1.3%</td>
<td class="negative">-2.3%</td>
</tr>
<tr>
<td>Canberra</td>
<td>$723,980</td>
<td>$693,962</td>
<td>$655,468</td>
<td class="positive">4.3%</td>
<td class="positive">10.5%</td>
</tr>
<tr>
<td>Hobart</td>
<td>$409,592</td>
<td>$392,170</td>
<td>$356,916</td>
<td class="positive">4.4%</td>
<td class="positive">14.8%</td>
</tr>
<tr>
<td>Darwin</td>
<td>$593,329</td>
<td>$615,670</td>
<td>$610,510</td>
<td class="negative">-3.6%</td>
<td class="negative">-2.8%</td>
</tr>
<tr>
<td>National</td>
<td>$819,455</td>
<td>$823,381</td>
<td>$758,367</td>
<td class="negative">-0.5%</td>
<td class="positive">10.8%</td>
</tr>
</tbody>
</table>
</div>
</div>
</div>
</div>
</div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">
<div dir="ltr" align="left">The median house price in most capital cities declined over the September quarter, with the national median house price experiencing its sharpest dip in six years, according to the September quarter Domain State of the Market Report - Metro.  </div>
<div dir="ltr" align="left">As tighter lending conditions come into play, demand for property in Sydney, Brisbane, Adelaide, Perth, and Darwin decreased over the quarter, with Sydney reporting one of the steepest declines in house prices of the capitals. </div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">Hobart, Canberra, and Melbourne were the only cities to record house price growth over the quarter.  </div>
<div dir="ltr" align="left">Median unit prices across the country varied over the September quarter, with Hobart and Melbourne experiencing surges in unit price growth, while Brisbane, Perth, Sydney, and Darwin recorded declines in unit prices.  </div>
<div dir="ltr" align="left">
Quarterly stratified median unit prices
<div>
<table class="domain-table">
<thead><tr>
<td>UNIT</td>
<td>SEP 2017</td>
<td>JUN 2017</td>
<td>SEP 2016</td>
<td>QOQ %</td>
<td>YOY %</td>
</tr></thead>
<tbody>
<tr>
<td>Sydney</td>
<td>$732,321</td>
<td>$738,227</td>
<td>$700,656</td>
<td class="negative">-0.8%</td>
<td class="positive">4.5%</td>
</tr>
<tr>
<td>Melbourne</td>
<td>$506,334
</td>
<td>$489,472
</td>
<td>$454,644
</td>
<td class="positive">3.4%</td>
<td class="positive">11.4%</td>
</tr>
<tr>
<td>Brisbane</td>
<td>$376,685
</td>
<td>$390,407
</td>
<td>$402,712
</td>
<td class="negative">-3.5%</td>
<td class="negative">-6.5%</td>
</tr>
<tr>
<td>Adelaide</td>
<td>$313,074
</td>
<td>$308,223
</td>
<td>$305,156
</td>
<td class="positive">1.6%</td>
<td class="positive">2.6%</td>
</tr>
<tr>
<td>Perth</td>
<td>$351,875
</td>
<td>$377,132
</td>
<td>$381,065
</td>
<td class="negative">-6.7%</td>
<td class="negative">-7.7%</td>
</tr>
<tr>
<td>Canberra</td>
<td>$427,391
</td>
<td>$419,451
</td>
<td>$429,751
</td>
<td class="positive">1.9%</td>
<td class="negative">-0.5%</td>
</tr>
<tr>
<td>Hobart</td>
<td>$323,174
</td>
<td>$304,077
</td>
<td>$257,214
</td>
<td class="positive">6.3%</td>
<td class="positive">25.6%</td>
</tr>
<tr>
<td>Darwin</td>
<td>$330,354
</td>
<td>$354,584
</td>
<td>$475,199
</td>
<td class="negative">-6.8%</td>
<td class="negative">-30.5%</td>
</tr>
<tr>
<td>National</td>
<td>$570,148
</td>
<td>$570,277
</td>
<td>$547,263
</td>
<td>0.0%</td>
<td class="positive">4.2%</td>
</tr>
</tbody>
</table>
Dr Andrew Wilson, said capital city housing markets generally tracked backward over the September quarter as the lower interest rate driver of recent years dissipated.
</div>
</div>
<div dir="ltr" align="left">"Actions by policymakers to restrict residential investor activity through tighter lending conditions to that group have also acted to weaken prices growth over the last three months.”</div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">
<div dir="ltr" align="left">For investors, Hobart continues to provide the best gross rental yields for houses with 5.29 per cent recorded over the September quarter. </div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">Sydney and Melbourne continue to record the lowest gross rental yields for houses of all capital cities, sitting at 3.12 per cent and 3.34 per cent respectively.</div>
<div dir="ltr" align="left"> </div>
<div dir="ltr" align="left">Canberra is the top performer for gross rental yields for units recording a result of 5.77 per cent over the quarter, closely followed by Darwin and Hobart at 5.65 per cent and 5.53 per cent respectively.  </div>
</div>
 
</div>
</div>
</div>
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