<p data-end="587" data-start="368">Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.</p>

<p data-end="778" data-start="589">The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.</p>

<p data-end="907" data-start="780"><a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.</p>

<p data-end="1052" data-start="909">The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.</p>

<p data-end="1311" data-start="1054">The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.</p>

<p data-end="1451" data-start="1313">The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.</p>

<p data-end="1676" data-start="1453">MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.</p>

<p data-end="1908" data-start="1678">Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.</p>

<p data-end="2142" data-start="1910">The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.</p>

<p data-end="2142" data-start="1910"><img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" /></p>

<p data-end="2308" data-start="2144">MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.</p>

<p data-end="2648" data-start="2310">"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.</p>

<p data-end="2797" data-start="2650">"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."</p>

<p data-end="2938" data-start="2799">The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.</p>

<p data-end="3216" data-start="2940">Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.</p>

<p data-end="3325" data-start="3218">Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.</p>

<p data-end="3442" data-start="3327">"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.</p>

<p data-end="3662" data-start="3444">"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."</p>

<p data-end="3818" data-start="3664">MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.</p>

<p data-end="4076" data-start="3820">"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.</p>

<p data-end="4375" data-start="4078">"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."</p>

<p data-end="4503" data-start="4377">Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.</p>

<p data-end="4741" data-start="4505">"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."</p>

<p data-end="4910" data-start="4743">The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.</p>

<p data-end="4951" data-start="4912">MAYD is targeting an early 2027 launch.</p>


Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

<main data-perf-region="main">
<p data-end="600" data-start="394">Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.</p>

<p data-end="733" data-start="602">But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.</p>

<p data-end="970" data-start="735">Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.</p>

<p data-end="970" data-start="735">[smartcode_project:default project_id=152737 project_image_fid=377679]</p>

<p data-end="1159" data-start="972">The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.</p>

<p data-end="1357" data-start="1161">It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.</p>

<p data-end="3400" data-start="3216">[smartcode_project:default project_id=152737 project_image_fid=377675]</p>

<p data-end="3400" data-start="3216">Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.</p>

<p data-end="1664" data-start="1517">Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.</p>

<p data-end="1826" data-start="1666">Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.</p>

<p data-end="1826" data-start="1666">[smartcode_project:default project_id=152737 project_image_fid=377685]</p>

<p data-end="2045" data-start="1828">Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.</p>

<p data-end="2269" data-start="2047">"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.</p>

<p data-end="2430" data-start="2271">A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.</p>

<p data-end="2606" data-start="2432">It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.</p>

<p data-end="2724" data-start="2608">At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.</p>

<p data-end="2892" data-start="2726">Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.</p>

<p data-end="2892" data-start="2726">[smartcode_project:default project_id=152737 project_image_fid=377680]</p>

<p data-end="3004" data-start="2894">Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.</p>

<p data-end="3214" data-start="3006">"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.</p>

<p data-end="3400" data-start="3216">The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.</p>

<p data-end="3400" data-start="3216">More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.</p>

<p data-end="3670" data-start="3538">&nbsp;</p>

<p data-end="3670" data-start="3538">[smartcode_project_cta:default project_id=152737]</p>

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>


Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

<p>A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.</p>

<p>Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.</p>

<p>Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374005]</p>

<p>The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.</p>

<p>Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.</p>

<p>Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374010]</p>

<p>Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.</p>

<p>The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.</p>

<p>“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374002]</p>

<p>“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”</p>

<p>The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.</p>

<p>[smartcode_project_cta:default project_id=150999]</p>


Maréa Residences brings parkside apartments to Coolangatta

<p data-end="535" data-start="324">Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.</p>

<p data-end="717" data-start="537">The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.</p>

<p data-end="918" data-start="719">The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.</p>

<p data-end="1131" data-start="920">PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.</p>

<p data-end="1131" data-start="920"><img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" /></p>

<p data-end="1318" data-start="1133">Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.</p>

<p data-end="1433" data-start="1320">The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.</p>

<p data-end="1658" data-start="1591">A significant component of The One will be its residential amenity.</p>

<p data-end="1864" data-start="1660">More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.</p>

<p data-end="2011" data-start="1866">The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.</p>

<p data-end="2011" data-start="1866"><img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" /></p>

<p data-end="2191" data-start="2013">The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.</p>

<p data-end="2365" data-start="2193">PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.</p>

<p data-end="2473" data-start="2367">“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.</p>

<p data-end="2775" data-start="2475">“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”</p>

<p data-end="2943" data-start="2777">The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.</p>

<p data-end="3145" data-start="3001">PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.</p>


PDG secures approval for $1.5bn Southbank apartment development, The One

<p>Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.</p>

<p>The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.</p>

<p>That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.</p>

<p>The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.</p>

<p>A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.</p>

<p>&nbsp;</p>

<p>Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.</p>

<p>Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.</p>

<p>While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;</p>

<p>Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.</p>


First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Dwelling Prices

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
<p>Celebrity MasterChef Gary Mehigan has starred in a two-minute film for realestate.com.au testing how smells can influence the valuation of house prices.</p>
<p>The film, titled ‘Sale Scents’, sees Gary Mehigan and aroma specialist Dr Megan Thornton was inspired by the idea that using aromatic citrus scents could help your house sell for more.</p>
<p><span>Gary and Megan test six scents with 44 people </span><span>inspecting a property in ‘scent groups’m with each person</span><span> then asked what they thought the home is worth.</span></p>
<p><span> The citrus scented home won the highest valuation. </span></p>
<p><span>Gary Mehigan </span><span>said he was with most Australians in thinking that baked bread was the best </span><span>smell to have through your home. </span></p>
<p><span>"Not so! Citrus scents are the most appealing at an open for inspection," he said.</span></p>
<p><span>"So while I reckon my brownies and bread pa</span><span>ss the taste test, it’s lemons, limes and oranges that will make noses sing.”</span></p>
<p>Simon Bagnasco, executive creative director at BWMD said there is a prevailing theory in the community that if you bake bread or brew coffee you can sell your house for more.</p>
<p><span>"We decided to put that theory to the test with Gary and Megan in a creative and engaging way for </span><span>realestate.com.au,” he said.</span></p>
<p><span>Six other short edits across realestate.com.au’s social channels </span><span>will be released in coming weeks. </span></p>
<p>Watch the video in full <a href="https://www.youtube.com/watch?v=f02pPOw9Zek" target="_blank">here</a>.</p>
</div>
</div>
</div></body></html>

jonathanchancellor-7SQnKwU6yx

Realestate.com.au launches Sales Scent campaign with celebrity chef Gary Mehigan

<html><body>
<p>Hotspotting’s Dirty Dozen – the 12 worst places to invest in Australia – has for a long time been dominated by markets closely linked to the resources sector. </p>
<p>The latest batch – included in the new edition of <em>The Price Predictor Index</em> – has a different flavour. Half of the locations are suburban markets, with considerably less dominance by the mining-related centres.</p>
<p>There are two reasons: oversupply has coincided with a decline in sales to turn many city apartment markets no go zones – and there are glimmers of recovery in some of those down-trodden resources locations.</p>
<p>One of the most remarkable emerging news stories right now is the speed of the turnaround in perception, confidence and activity in the resources sector. After 2-3 years of “the resources boom is over” articles, suddenly the news is dominated by rising commodity prices and announcements of new mining ventures or the revival of projects previously mothballed. </p>
<p>This is particularly true in Queensland, where the spectacular rise in the price for coal has changed the mentality of the industry and perceptions about the state economy.</p>
<p>Personally, I wish they’d leave coal in the ground and find better, cleaner ways to make steel or fire up power stations. </p>
<p>But for anyone who owns real estate in places like Mackay, Emerald, Moranbah or Rockhampton in Queensland, as well as the towns of the Hunter Valley in New South Wales, this is seriously good news. There is now genuine hope of vacancy rates coming down and rents and prices rising again.</p>
<p>Consider this from <em>The Courier-Mail</em> on 17 October: “A third Queensland coal mine has announced its ­intention to restart production as demand out of China has pushed the spot price above $US220 a tonne. Cockatoo Coal has emerged from administration with a plan to restart the Baralaba mine early next year. It follows Glencore’s decision to restart production at the Collinsville mine, while Stanmore Coal has taken over the Isaac Plains mine from Vale and Sumitomo and has now settled contracts for November delivery of its semisoft coking coal at $US130 a tonne, which is 75 percent higher than September’s price.”</p>
<p>And this from <em>The Herald</em> in Newcastle on 14 October: “The Hunter coal industry is back on an optimistic footing after big rises in prices both for coking coal for steelmaking and the region’s main product, thermal coal for power stations. In round figures, thermal coal prices are up by about 70 percent on lows earlier this year, while coking coal, which makes up about 15 percent of Hunter output, has effectively doubled. The price increases have led analysts to re-rate most Hunter mines as profitable, whereas a year ago it was widely accepted that two out of three mines were losing money.”</p>
<p>Or this from the <em>Financial Review</em> on 12 October: “The mining industry has reached an agreement with Japanese steel makers that prices for most Australian coking coal will jump 117 percent in just three months, an increase that means that the benefit of rising prices could be felt across the economy. The agreement means most Australian coking coal will be sold for $US200 per tonne over the next three months, compared with $US81 per tonne in the March quarter. The boom in coal prices could add 2 percent to national income this year, boost Federal Budget revenues by close to $7 billion and start wages growing again. Less than a year after the coal industry was accused of being in terminal decline, shuttered mines across Queensland and NSW have been reopened.”</p>
<p><em>Business Insider</em> reported on 17 October: “With just over two months to go, it appears that 2016 could well be an important turning point for Australia’s mining sector. Commodity prices have recovered, the downturn in capital investment appears to be nearing its end and there are even some signs of a pickup in non-mining infrastructure investment, which is helping to boost sentiment after years of depressing, capital-destroying developments. For an economy that’s still highly-dependent on the mining sector, it’s been welcome news.”</p>
<p>What a startling difference in the rhetoric is so short a space of time.</p>
<p>There are all kinds of implications for economies and government budgets, but also for real estate in affected areas.</p>
<p>For those long-suffering investors who have been agonising over whether to cut their loses and get out of badly-performing properties in places like Gladstone in Queensland and Newman in Western Australia, there is now some hope that hanging on will deliver, in time, a reasonable outcome.</p>
<p><em>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em></p>
</body></html>

terryryder-YECXbqmri2

Half of Hotspotting's Dirty Dozen now in suburban markets

<html><body>
<p><img src="https://counter.theconversation.edu.au/content/66976/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1"></p>
<p>GUEST OBSERVER</p>
<p>The relentless housing boom in Australia’s cities, especially Melbourne and Sydney, is often framed as an intergenerational conflict in which younger generations are being priced out of the market by baby boomers.</p>
<p>However, sociological theories of social class suggest parents’ wealth and social status will eventually be passed onto their children anyway.</p>
<p>So, by focusing on intergenerational inequalities that will eventually be reversed, we are framing the housing affordability question the wrong way. At the same time, the impact of the housing boom is so deep that some long-established ideas about social class may be no longer relevant.</p>
<p>The housing boom has blurred existing boundaries between upper, middle and lower classes that applied to the baby boomers and previous generations. New social class boundaries and formations are being produced.</p>
<p>This does not mean younger generations, as a collective, are disadvantaged compared to their parents. Rather, these younger generations will be subdivided differently and more unequally.</p>
<h2>The renting class</h2>
<p>In the industrial city, the term “working class” was defined by the experiences of low-income workers in manufacturing jobs. Yet in a post-industrial Australian city it makes more sense to talk about the “renting class”. </p>
<p>Not all renters are poor, and not all poor households are private renters. However, the correlation between the two is significant and strengthening. The proportion of private renters in the total population is slowly but surely increasing – from 20.3 percent in 1981 to 23.4% in 2011. </p>
<p>Simultaneously, public housing – once a symbol of the working class – is undergoing a dramatic demise.</p>
<p>Largely abandoned by the state to fend for itself, with weak regulation for security of tenure or rent control, the renting class faces the unrelenting burden of ever-rising rents. The average renter paid 19 percent of their income on rent in 1981. In 2011, this proportion increased to 26.9 percent. </p>
<p>And, in 2014, around 40 percent of low-income private renters were in housing affordability stress, paying more than one-third of their income on housing. </p>
<p>With hardly enough “after-housing” disposable income to meet basic living standards, savings for retirement is almost impossible for the low-income renter. And with little or no wealth to assist their children to buy a home, the renter’s social class status is likely to be passed from one generation to the next.</p>
<h2>The home-owner class</h2>
<p>More than just a status symbol, home ownership has become increasingly central to the way most Australians accumulate wealth. About half of the home-owner’s wealth is held in their own home. Each housing boom enriches them further through tax-free capital gain on their homes.</p>
<p>The housing boom also creates work in the construction industry, which is the third-largest employer in Australia with more than one million workers. These are no longer working-class occupations, with most skilled jobs paying average weekly earnings of close to A$1,500. So, it is arguably the home-owner class that benefits most from each construction boom. </p>
<p>One consequence of the housing boom is that a growing cohort of moderate-income households is now priced out of home ownership. Had they been born a generation earlier, they would have probably been able to afford a house. Now it is beyond their reach. </p>
<p>Over the years, as their rents rise and their wealth stagnates, the gap between the renter and a home owner will become unbridgeable. Their experience of retirement will be worlds apart. </p>
<p>One lifeline for this cohort is the prospect of inheriting some of the housing wealth of their baby boomer parents. But when this will happen is highly uncertain.</p>
<h2>The housing elite</h2>
<p>The housing elite is rewarded by the housing boom well beyond the capital gain on their own homes. Much of the massive wealth of Australia’s elite is generated through the housing market – through investment, construction and financing of housing. </p>
<p>Harry Triguboff, Australia’s third-richest person, earned his fortune in the apartment development business. So did the three youngest entrants into the 2016 BRW Rich List. Their entry marks the rising importance of housing in the making of Australia’s super-rich. </p>
<p>The top 20 percent of the wealthiest Australians hold most of their wealth in their home and in other investment properties. They also hold significant wealth in the sharemarket, which is commanded by big banks whose portfolios are heavily dominated by housing loans. Each housing boom significantly adds to their wealth.</p>
<p>Social class, however, is more than just financial wealth. The wealthiest Australians secure their social class position by living in exclusive suburbs where they are able to associate with the right people and live an elite lifestyle. The astronomical prices of houses in some of these suburbsensure their hermetically exclusive nature. </p>
<h2>Breaking the loop</h2>
<p>None of these social class categories is natural or universal. These categories will not apply in some European countries, for example, that have very different housing systems.</p>
<p>The deepening fusion between Australia’s housing system and its social class system creates a dangerous cycle. The further house prices grow, the more important housing becomes as a determinant of social class. And when social class is increasingly defined by housing, people are willing to bid even higher to enter home ownership or the housing elite.</p>
<p>Unless we break this cycle, Australia will continue in its path of becoming a more polarised society, with a weakened renting class, an impenetrable elite, and a shrunken home-owner class between them.</p>
<p><em><span class="fn author-name">Ilan Wiesel is l</span>ecturer in Urban Geography, University of Melbourne and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/ilan-wiesel-303040" target="_blank">here</a>.</em></p>
</body></html>

jchancellor-FAypfDUnLy

How the housing boom is remaking Australia’s social class structure

<html><body>
<p>The commodities downturn continues to affect dwelling prices in Western Australia with three Perth properties remaining on the SQM Research Top Ten Discounted Properties list.</p>
<p>Louis Christopher, SQM Research managing director said there were no surprises there.</p>
<p>"No surprises there - the commodities downturn has left many properties in the city stranded, or at least their vendors," he said.</p>
<p>"As the SQM Research Weekly Asking Price Index<a href="https://sqmresearch.us5.list-manage.com/track/click?u=9badbd870addb4af72206c2eb&amp;id=792a479795&amp;e=0aab96dc54"> </a>shows, house and unit prices have been falling for some time in Perth.</p>
<p>"Despite the buoyancy in east coast property markets, there is no sign of an easing in the downturn in Perth, or Darwin, for that matter."</p>
<p><a href="/images/2016/09/15/Screen%20Shot%202016-09-15%20at%201.21.11%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/09/15/Screen%20Shot%202016-09-15%20at%201.21.11%20PM.png" alt=""></p>
</body></html>

Commodities downturn leaving some WA vendors stranded: SQM Research

<html><body>
<div>A five bedroom home in Raymond Terrace, north of Newcastle in New South Wales has had $100,000 taken off the initial asking price since listing at the start of the year according to SQM Research.</div>
<div>
<div> </div>
<div>The property, 14 Kanwary Close Raymond Terrace, was first on the market for $949,000.</div>
<div> </div>
<div>Louis Christopher, SQM Research managing director, said the vendors are struggling to find a buyer and bad financial news is forcing them to lower their expectations.</div>
<div><span><br>"With five double bedrooms and three bathrooms, this modern home can fit a big family without breaking your budget.</span></div>
<div><span> </span></div>
<div><span>"The home is located in the Roslyn Park Estate, and backs onto a wetland reserve, offering unrestricted views of the river."<br></span></div>
</div>
</body></html>

Raymond Terrace five bedder price reduced by $100k 

<html><body>
<p><img src="https://counter.theconversation.edu.au/content/64794/count.gif" alt="The Conversation" width="1" height="1"></p>
<p>GUEST OBSERVER</p>
<p>There is much debate about which groups of people have played the greatest role in creating the increasingly unaffordable housing markets in Australian cities. Baby boomers and foreign investors are two popular targets.</p>
<p>But in my new book, The Geopolitics of Real Estate, I show it is a mistake to blame particular domestic or foreign investor groups for affordability problems over a short timeline.</p>
<p>One way to think about housing affordability is to reverse-engineer the problem back to the birth of Australia’s property-owning democracy. History shows the problem was created in five key steps.</p>
<p>Step 1: Aboriginal peoples were dispossessed of their land</p>
<p>When you open up the timeline for an analysis of housing affordability, the question quickly becomes: whose land are domestic and foreign real estate investors trading?</p>
<p>Go back a couple of centuries and you arrive at what RMIT academic Libby Porter calls the original dispossession: the point when the land was stolen from Aboriginal peoples.</p>
<p>But Aboriginal land dispossession is not only a series of historical events that occurred in the past. Such acts established the social and legal conditions that allow land and real estate to be traded today.</p>
<p>This throws statements by domestic real estate investors about invading foreigners into sharp relief.</p>
<p>Step 2: foreigners and capital were moved onto the land</p>
<p>The early British colonial settlements set trade and migration as their objectives.</p>
<p>In the early 19th century, Edward Wakefield, a leading force in South Australia’s colonisation, argued land should be sold rather than given away. This would incentivise the new landowners to pay the emigration costs associated with transporting immigrants to supply labour for the colony.</p>
<p>Wakefield argued the immigrants would sell their labour and, with their incomes, would buy land. He called this systematic colonisation, and later championed these ideas in New Zealand and Canada.</p>
<p>These ideas about globalising the scale at which foreigners could be moved through local colonial land opened up new ways of thinking about the global market for land and sources of labour.</p>
<p>Contemporary governments continue to use the movement of people and capital through their land and real estate markets to underwrite their economies and labour markets.</p>
<p>Step 3: a property-owning democracy was built</p>
<p>A property-owning democracy is a society in which between 65% and 85% of households own or are purchasing the home they live in.</p>
<p>After the second world war the Australian government set about building a property-owning democracy. To build it required two interrelated tasks.</p>
<ul>
<li>The first involved claiming, measuring, quantifying and distributing the land ready for the sale of real estate.</li>
<li>The second involved creating a way of thinking about real estate that would function within the property-owning democracy.</li>
</ul>
<p>After the war the government increasingly regulated the movement of people and their money across Australian borders. It introduced a raft of economic and social policies that were firmly aimed at shaping how Australians thought about real estate – the Great Australian Dream.</p>
<p>Post-war housing and economic policies, ideas about nationhood and citizenship, and the responsibility to be a suburban consumer of a home and household goods were worked deeply into the minds of baby boomers.</p>
<p>Step 4: land and real estate was constituted as private property</p>
<p>What emerged in the second half of the 20th century was a suite of crises in land and real estate.</p>
<p>Aboriginal land rights rose to the surface as the settler politics of claiming and defending the land and real estate was called into question.</p>
<p>As the populations grew and the effects of the property-owning democracy took hold in major Australian cities, a crisis in housing affordability emerged.</p>
<p>When compared with the experience of their parents, by the early 21st century it was harder for the children of the baby boomers to buy into urban real estate markets. As the baby boomers were busy buying real estate in the second half of the 20th century, a land revolution was under way in China.</p>
<p>The collectivisation of land had effectively removed the land from the private property market in China in the mid-20th century. It was radically reinserted a few decades later.</p>
<p>The geopolitical rise of China at the end of the 20th century changed the way people and money circulated around the world.</p>
<p>Step 5: global movements of people and capital followed the geopolitics</p>
<p>Strong private property land and real estate ideals emerged from the other side of the Cultural Revolution. The commodification of land and real estate became a key tactic for building wealth in China.</p>
<p>The surplus Chinese capital broke free of the national border by the end of the century. The newly enfranchised middle class and super-rich Chinese were looking for foreign real estate opportunities.</p>
<p>At the turn of the century, the baby boomer real estate dream was becoming harder to realise for their children. But the Chinese local and foreign real estate dreams were still in their infancy.</p>
<p>The history of foreign investment in land and real estate shows the global movement of people and capital is closely linked to the prevailing geopolitics.</p>
<p><em><span class="fn author-name">Dallas Rogers is l</span>ecturer in Urban Studies, Western Sydney University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank">here</a>.</em></p>
</body></html>

Property 101: Australia’s housing affordability problem explained in five historical steps

<html><body><div class="page" title="Page 4">
<div class="layoutArea">
<div class="column">The Westpac–Melbourne Institute Consumer Sentiment Index rose 2 percent from 99.1 in July to 101.0 in August with the 'time to buy a dwelling index rising 10.1 percent.</div>
<div class="column"> </div>
<div class="column">The time to buy a dwelling index, according to the release, is now 9.7 points below long-run average but has improved 'markedly' over the year, according to Westpac.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2010.13.29%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2010.13.29%20AM.png" alt=""></div>
<div class="column"> </div>
<div class="column"> </div>
<div class="column">It said the new record low on interest rates may also have been unnerving in terms of the signal it gives about the wider economy.</div>
<div class="column"> </div>
<div class="column">"While sentiment across the mortgage belt responded strongly (up 7 percent) it dipped 0.4 percent across all other groups on a combined basis," the report noted.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2010.14.59%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2010.14.59%20AM.png" alt=""></div>
<div class="column"> </div>
<div class="column">"The survey detail points to another positive rate effect from the decision by banks to raise some term deposit rates following the RBA rate move.</div>
<div class="column"> </div>
<div class="column">"August saw a notable 7 percent lift in sentiment amongst retirees, a group that typically reacts negatively to rate cuts (–0.4 percent historically) due to their low debt exposure and reliance on interest income.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2010.16.10%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2010.16.10%20AM.png" alt=""></div>
<div class="column"> </div>
<div class="column">"A range of factors likely contributed to the smaller positive reaction in August including the decision by the four major banks to reduce mortgage rates by 10-14bps vs 25bps in May. Against this, the survey detail suggests the decision by banks to raise some term deposit rates lifted sentiment amongst retirees, a segment that typically reacts negatively to interest rate cuts.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2010.17.35%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2010.17.35%20AM.png" alt=""></div>
<div class="column"> </div>
<div class="column">"The ‘time to buy a dwelling’ index surged 10.1 percent in Aug. It is 9.7pts below its long run average but has improved markedly over the year. Buyer sentiment in NSW and Vic have shown particularly strong improvements.</div>
<div class="column"> </div>
<div class="column">"The Westpac-Melbourne Institute Consumer House Price Expectations Index was flat in Aug. However, the signal since the start of the year has been of improved confidence with the index up 28 percent since the end of 2015."</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2010.18.51%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/09/07/Screen%20Shot%202016-09-07%20at%2010.18.51%20AM.png" alt=""></div>
</div>
</div></body></html>

 Time to buy a dwelling index lifts in August: Westpac–Melbourne Institute Consumer Sentiment Index

<html><body>
<p>Houses in Melbourne, the NSW Central Coast and Newcastle are at the peak of the market cycle according to analyst firm Herron Todd White's property clock for houses in August.</p>
<p>Last month Dubbo and the Gold Coast were in the peak of the market as well.</p>
<p> <a href="/images/2016/08/16/Screen%20Shot%202016-08-16%20at%2012.35.54%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/08/16/Screen%20Shot%202016-08-16%20at%2012.35.54%20PM.png" alt=""></p>
<div class="page" title="Page 7">
<div class="section">
<div class="layoutArea">
<div class="column">
<p>HTW said the diversity of proportion the NSW Central Coast covers all wants, tastes and needs at pricing levels which are more than favourable to those seen in the Sydney metropolitan area but first home buyers make up a big part of the economic base on the coast.</p>
<p>"Spoilt for choice, there are a number of localities suitable for the first home buyer," HTW said.</p>
<p>"At present, Narara, Niagara Park and Wyoming are probably the pick for these buyers toward the southern end of the LGA. Newer and bigger homes within reach for the rst home buyer toward the northern end of the LGA can be found at Woongarrah, Hamlyn Terrace and Wadalba.</p>
<p>"Second, third and subsequent buyers are equally well catered for. It just depends on whether they want to be close to the beaches or lakes, or in a suburbs or rural lifestyle area. All budgets and tastes are satisfied."</p>
<p>HTW state Newcastle/Lake Macquarie has seen a sustained period of growth for standard residential property over the past two years, despite new release subdivisions selling land at Fern Bay, Cameron  Park and Fletcher in large numbers.</p>
<p>“There are also smaller estates dotted throughout Newcastle and in particular Lake Macquarie, with Catherine Hill Bay and Trinity Point at Morisset adding to the available stock," HTW said.</p>
<p>"This can be put down to a number of factors including incentives for first home buyers to build, interstate migrants coming from the more expensive Sydney market and speculative out of town investors looking to add to their rental portfolios."</p>
<p>In Melbourne, Cranbourne East provides an affordable option with a median house price of $418,750. </p>
<p>"It has been named the fastest growing suburb in Victoria, expanding by 88 people per week in the past financial year as stated by the Australian Bureau of Statistics."</p>
<p><span> </span></p>
</div>
</div>
</div>
</div>
</body></html>

Melbourne, the NSW Central Coast and Newcastle houses at market peak: HTW property clock

<html><body>
<p>Utilising quarterly household income data from the Australian National University, CoreLogic has developed quarterly measurements of the ratio of property prices to annual household income.</p>
<p>This data is extremely valuable when looking to measure housing affordability.  The measure is available at a number of different geographies from SA2 regions (generally about the size of a suburb or group of suburbs) all the way up to GCCSA (capital city and rest of state) regions.  When looking at the analysis it is important to note that a higher ratio means housing is less affordable and a lower ratio indicates better affordability.</p>
<p>Note that CoreLogic will be releasing a range of affordability indicators over the coming months, including rental price to income ratio’s and the proportion of household income required to service a mortgage.</p>
<p><a href="/images/2016/07/08/Chart-1-3-527x580.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/07/08/Chart-1-3-527x580.jpg" alt=""></p>
<p>With property prices varying greatly between each of the capital cities it is interesting to note that the variation in household incomes in nowhere near as large.  In March 2016, Hobart had the lowest median dwelling price at $337,250 and Sydney had the highest median price at $775,000.  Meanwhile, household incomes range from as low as $1,175/week in Hobart to $2,118/week in Darwin.  Obviously the differences in property prices and incomes impact on housing affordability, so let’s take a look at each of the capital cities and the ratio of prices to income over time.</p>
<p><a href="/images/2016/07/08/Chart-2-3-580x210.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/07/08/Chart-2-3-580x210.jpg" alt=""></p>
<p>In March 2016 the ratio of house prices to annual household income in Sydney was 9.8 and for units it was 7.2.  Both property types are currently recording a record-high ratio. 12 months ago these ratios were recorded at 8.9 for houses and 6.8 for units. Note that the data goes as far back as September 2001 and at that time the ratios were recorded at: 6.0 for houses and 5.7 for units.</p>
<p><a href="/images/2016/07/08/Chart-3-3-580x206.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/07/08/Chart-3-3-580x206.jpg" alt=""></p>
<p>The ratio of property prices to annual household income in March 2016 for Melbourne were recorded at: 7.7 for houses and 6.1 for units.  The ratio for houses is currently at a record high while for units it peaked at 6.6 in December 2010 and March 2011 indicating an improvement in affordability for units since that time. </p>
<p>In March 2015, these ratios were recorded at 7.2 for houses and 6.0 for units. Affordability has deteriorated over the year for each property type however, detached housing affordability has deteriorated much more rapidly than units. In September 2001 the ratios were recorded at: 4.6 for houses and 4.8 for units.</p>
<p><a href="/images/2016/07/08/Chart-4-3-580x207.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/07/08/Chart-4-3-580x207.jpg" alt=""></p>
<p>Unlike Sydney and Melbourne, the ratio of property prices to household income is falling in Brisbane, indicating improving housing affordability.  In March 2016, the ratios were recorded at 6.1 for houses and 4.9 for units.  12 months earlier the ratios were recorded at 6.1 for houses and 5.1 for units.  Brisbane housing was at its least affordable in September 2008 when the ratio of prices to household income were recorded at: 6.7 for houses and 5.7 for units.  In September 2001 the ratios for Brisbane were recorded at: 3.7 for houses and 3.8 for units.</p>
<p><a href="/images/2016/07/08/Chart-5-3-580x206.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/07/08/Chart-5-3-580x206.jpg" alt=""></p>
<p>The ratio of property prices to household income for Adelaide peaked in December 2010 at 7.1 for houses and 5.9 for units.  In March 2016 the ratios were recorded at 6.5 for houses and 5.1 for units.  Affordability changed little over the year with the ratios recorded at 6.5 for houses and 5.3 for units in March 2015.  In September 2001, the ratios were recorded at 3.9 for houses and 2.9 for units.</p>
<p><a href="https://blog.corelogic.com.au/wp-content/uploads/2016/06/Chart-6-1-580x206.jpg" target="_blank">Click to enlarge</a></p>
<p><img class="aligncenter size-large wp-image-7066" src="https://blog.corelogic.com.au/wp-content/uploads/2016/06/Chart-6-1-580x206.jpg" alt="Chart 6" width="580" height="206"></p>
<p>With Perth property prices falling, the ratio of prices to household income is also improving.  In March 2016, the ratio of prices to income was recorded at 6.0 for houses and 4.7 for units and a year earlier the ratios were 6.3 for houses and 5.1 for units.  At its peak in June 2007 the ratio of house prices to household income was 7.4 and for units the peak of 6.3 was recorded in December 2007.  In September 2011 the ratios of property prices to household income were recorded at 3.7 for houses and 3.3 for units.</p>
<p><a href="https://blog.corelogic.com.au/wp-content/uploads/2016/06/Chart-7-580x207.jpg" target="_blank">Click to enlarge</a></p>
<p><img class="aligncenter size-large wp-image-7067" src="https://blog.corelogic.com.au/wp-content/uploads/2016/06/Chart-7-580x207.jpg" alt="Chart 7" width="580" height="207"></p>
<p>Although Hobart has the cheapest capital city property prices it is not the most affordable capital city housing market.  In March 2016, the ratio of property prices to household income was recorded at 5.8 for houses and 4.7 for units compared to 5.9 and 4.4 respectively a year earlier.  At its least affordable the ratio of prices to income was recorded at 6.5 for houses in September 2010 and 5.2 for units in March 2011.  In September 2011 the ratios were recorded at 3.1 for houses and 2.5 for units.</p>
<p><img class="aligncenter size-large wp-image-7068" src="https://blog.corelogic.com.au/wp-content/uploads/2016/06/Chart-8-580x206.jpg" alt="Chart 8" width="580" height="206"></p>
<p>Based on a ratio of property prices and household incomes Darwin is currently the most affordable capital city housing markets with ratios of 5.2 for houses and 4.2 for units.  Affordability is improving in the city as property prices fall with these ratios recorded at 5.5 for houses and 4.3 for units a year earlier in March 2015.  At their peak over the September and December quarters of 2010 the ratio of house prices to income was 6.0 and the ratio for units was 4.7.  In September 2001 these ratios were recorded at 3.2 for houses and 2.7 for units.</p>
<p><img class="aligncenter size-large wp-image-7069" src="https://blog.corelogic.com.au/wp-content/uploads/2016/06/Chart-9-580x205.jpg" alt="Chart 9" width="580" height="205"></p>
<p>In Canberra there is a divergence in results with houses becoming less affordable while affordability for units is remaining unchanged.  In March 2016, the ratios of prices to income were recorded at 5.8 for houses and 4.0 for units compared to 5.5 for houses and 4.0 for units a year earlier.  Canberra houses are at their least affordable level on record while units were their least affordable in December 2010 when they had a ratio of 4.4.  In September 2001 the ratios for Canberra were recorded at 3.6 for houses and 2.7 for units.</p>
<p>Outside of Sydney, Melbourne and Canberra housing affordability is improving with each capital city having a current ratio which indicates affordability has been worst in the past.</p>
<p>The problem is that almost 2 out of every 5 Australians live in either Sydney or Melbourne and these two cities have also been the epicentres of employment and economic growth over recent years. Deteriorating housing affordability in Sydney and Melbourne impacts on significantly more people than deteriorating housing affordability elsewhere around the country.</p>
<p>This measure of affordability provides a high level overview of the relative housing affordability across the capital cities, but it is important to remember that geographically across each city the affordability story can be dramatically different. </p>
<p>Furthermore, this analysis does not take into consideration interest rates which can make housing affordability more affordable.  While interest rates are undoubtedly a consideration for buyers, they must also consider that interest rates can fluctuate dramatically over the life of a mortgage.</p>
<p><em>Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.</em></p>
</body></html>

ckusher-ujnxiKuFQs

Property price to income ratio is rising in Sydney, Melbourne and Canberra but flat or falling elsewhere: CoreLogic 

<html><body>
<p>Home values fell in the March quarter for the first time in two and a half years, according to the Australian Bureau of Statistics' index of dwelling values across the eight capital cities.</p>
<p>The inxex fell 0.2 percent in the three months to March.</p>
<p>The December quarter had seen it plateau.</p>
<p>It was the first decline since the September quarter of 2012, when the index also fell 0.2 percent. </p>
<p>The bigger dip were attached dwellings - apartments, townhouses and semi-detached homes - that fell 0.8 percent over the quarter.</p>
<p>In Sydney attached dwelling values fell 0.6 percent over the quarter, following a 0.8 percent decline in December.</p>
<p>Melbourne apartments fell 1.3 percent. </p>
<p>Prices rose in Brisbane by 0.7 percent, Hobart (2.3 percent) and Darwin, where they gained 0.1 percent - the first increase after five quarters of decline. </p>
<p>The national capital city weighted average index for prices of established houses was unchanged, however there was a 0.6 percent fall in Sydney house prices - the second quarterly fall after the December quarter's 2.1 percent decline.</p>
<p>The ABS data suggested Melbourne prices rose 1.4 percent and Brisbane houses increased 0.2 percent. Houses in Adelaide (0.6 percent) and Hobart (0.9 percent) also rose.</p>
<p>They fell 1.8 percent in Perth, 2.8 per cent in Darwin - their seventh consecutive quarterly decline - while there was a 0.1 percent dip in Canberra.</p>
<p>The total number of residential dwellings rose to 9,661,500 in the quarter from 9,622,500 in December.</p>
<p>The value of housing stock rose less than 1 percent to $5.93 trillion from $5.91 trillion.</p>
</body></html>

Dwelling Prices

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Dwelling Prices

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News