Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

Joel Robinson

Bottega House to make Brisbane debut with St Lucia riverfront apartment development

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> is advancing its affordable apartment model into Brisbane with the acquisition of another site at Cordelia Street in South Brisbane for $27 million.

Sherpa, which has a $1.7 billion pipeline across Southeast Queensland, intends to bring a cohort of apartments exclusively for first homebuyers into its proposed 186-apartment project to be built at 2 Cordelia Street.

The Sherpa model has already been incredibly well received from their Gold Coast projects, where Sherpa Group set aside a number of apartments exclusively for first homebuyers.

The new $320 million project marks Sherpa Group's second development in Brisbane, following its $255 million Symphony project, also on Cordelia Street, which is currently under construction.

Symphony will deliver 146 apartments across 28 levels, offering a mix of one, two and three-bedroom apartments. With 114 already sold, construction by <a href="https://www.apartments.com.au/builders/lps-group">LPS Group</a> is scheduled for completion in 2028.

[smartcode_project:default project_id=7574 project_image_fid=351654]

Sherpa Founder, Christie Leet, said the company was excited to be venturing into Brisbane for its second residential project.

“We’re big believers in the future of Brisbane as we lead into the 2032 Olympics and beyond,” Leet said.

“The success of Symphony has guided us into what will be our second project and we look forward to submitting our plans with council soon so we can deliver yet another quality project to the inner city residential market.

“Our Flourish model has been very well received both in Brisbane and the Gold Coast, and we’re excited to be able to offer some of these apartments again exclusively to first homebuyers to help get them into the property market.

“The model has been extraordinarily well received in our previous projects and it is something we are committed to moving forward.”

2 Cordelia Street will be designed by <a href="https://www.apartments.com.au/architects/hal-architects">HAL Architects</a> &amp; Finegrain and will include Sherpa’s signature residential amenities including pool, gym, recreation, wellness and work from home spaces.

The project will feature ground-floor commercial space, creating a vibrant amenity for residents and the surrounding community.

A development application will be lodged with Brisbane City Council in August on the code compliant site and will be launched to the market early 2027.

Sherpa acquires new site for second Brisbane apartment tower

One of North Sydney's best-known commercial buildings could become hundreds of new homes, with insurance giant Zurich Australia lodging a State Significant Development Application (SSDA) to transform 5 Blue Street into a mixed-use residential development above North Sydney Station.

Rather than demolishing the existing building and starting again, Zurich is proposing an adaptive reuse project that would convert the landmark office building into a 15-level residential development delivering 62 apartments, 86 affordable co-living dwellings, activated retail and significant upgrades to the Blue Street Plaza.

The proposal reflects a growing trend of commercial property owners repositioning ageing office assets into residential housing as Sydney grapples with housing supply shortages and changing workplace demand.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="0bba7d12-06dc-4375-aad7-238c94b21ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.42.05%E2%80%AFAM.png?VersionId=NJl5oLAEBDGuPmY3RnyliKODjMc8lvRh" />

Located directly above North Sydney Metro and train station, the 3,051 sqm site occupies one of the most strategically positioned parcels of land on Sydney's Lower North Shore.

Designed by fjcstudio, the proposal seeks to retain and adapt much of the existing structure while creating a contemporary residential address that better connects with the public domain surrounding North Sydney Station.

The application proposes two basement levels, ground floor retail, affordable co-living accommodation across the podium levels, and apartments above, while preserving and enhancing the publicly accessible Blue Street Plaza.

Rather than pursuing maximum apartment numbers, Zurich has opted for a housing mix heavily weighted towards larger owner-occupier residences.

The proposal includes 62 build-to-sell apartments comprising 12 one-bedroom, 19 two-bedroom, 29 three-bedroom apartments and two premium penthouses. It also incorporates 86 affordable co-living dwellings, which would be managed in perpetuity by a Community Housing Provider.

That balance between traditional apartments and affordable housing reflects the NSW Government's push to increase housing diversity around major transport infrastructure.

The proposal has been lodged concurrently with a rezoning application, with Zurich arguing the site is ideally positioned to support additional housing given its immediate proximity to public transport, employment and services.

"The proposal aims to respond to the housing challenges facing Sydney through the delivery of diverse housing types in a highly accessible location," the design report by fjcstudio states. It also seeks to improve pedestrian amenity through upgrades to Blue Street Plaza while creating a high-performing residential building that responds to the surrounding context.

<img alt="Zurich" data-entity-type="file" data-entity-uuid="36082e15-c636-4481-bb68-5a5f6443fe39" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%2010.41.36%E2%80%AFAM.png?VersionId=5P6VD.fvmqjQfIG3TWWMRXxQWiQBjeFB" />

Rather than replacing the commercial building, fjcstudio has developed a design that works with the existing structural framework above the rail corridor, an approach that significantly reduces demolition while allowing the site to be repositioned as a mixed-use residential precinct.

The existing structural constraints have informed much of the building's design, including its relationship with Blue Street and surrounding public spaces.

The building has been designed as a slender tower rising above a clearly defined podium, with vertically expressed façades intended to reduce the perceived bulk while reinforcing North Sydney's emerging skyline.

According to fjcstudio, the architectural language responds directly to the surrounding commercial towers while maintaining a finer grain expression more closely aligned with the neighbouring Lavender Bay streetscape.

The tower incorporates articulated façade elements, landscaped podium edges and recessed upper levels to soften its appearance and improve pedestrian amenity below.

A significant component of the proposal is the revitalisation of Blue Street Plaza.

The existing public space has long served as one of the primary pedestrian connections between North Sydney Station, Greenwood Plaza and Blue Street, yet its role is expected to become even more important following the opening of Sydney Metro.

Zurich's proposal seeks to strengthen that role by improving landscaping, introducing new retail frontages, enhancing pedestrian permeability and creating more active edges throughout the day and evening.

Ground floor retail would wrap the plaza, while separate residential and co-living entries have been designed to improve wayfinding without reducing street activation.

Landscape design has been integrated throughout the podium and public realm, softening what is currently one of the most heavily urbanised parts of North Sydney.

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fjcstudio has carefully oriented apartments towards Sydney Harbour and the CBD while using privacy blades and articulated façades to minimise overlooking between neighbouring buildings.

Large framed openings along the western elevation maximise harbour outlooks, while the eastern apartments have been angled towards the south-east to improve privacy from neighbouring development.

The project forms part of the continuing transformation of North Sydney from a predominantly commercial CBD into a genuine mixed-use city centre.

Since the completion of Victoria Cross Metro Station, developers have increasingly shifted their attention towards residential projects capable of leveraging the area's unparalleled transport connectivity.

&nbsp;

FiveX recently lodged plans for a 61-storey, 490-apartment tower that would become one of the tallest residential buildings in North Sydney if approved.

Aqualand continues to expand its Lower North Shore presence following the completion of AURA on Walker Street and its recent St Leonards and Roseville proposals.

Developers are also progressing projects throughout Walker Street, Miller Street and the Victoria Cross precinct as demand for well-located owner-occupier apartments continues to strengthen.

First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station

Busy developer Aqualand Prestige has formally taken the next step in its expansion across Sydney's Lower North Shore, lodging a State Significant Development Application (SSDA) for its long-held Archer Street site in Chatswood.

The application covers <a href="https://www.apartments.com.au/new-apartments/51-55-archer-street-chatswood-nsw-2067">51-55 Archer Street</a>, a 1,767 sqm amalgamated site on the eastern edge of the Chatswood CBD, where the developer is seeking approval for a 45-level mixed-use tower delivering 114 apartments, including a significant affordable housing component, alongside retail, commercial space and six basement levels of parking.

The SSDA marks the latest milestone for a project Aqualand has been quietly progressing over the past two years. The developer first secured the site for its Aqualand Prestige platform before undertaking an alternative design excellence process with PTW Architects, ultimately avoiding a formal design competition through the Housing Delivery Authority pathway.

The proposal has evolved considerably from Aqualand's original concept. The revised scheme has been designed around larger owner-occupier product, with an unusually high proportion of three and four-bedroom apartments, targeting the more affluent buyer profile, and downsizer, emerging across the North Shore.

<img alt="Archer St" data-entity-type="file" data-entity-uuid="0171204c-5811-41b5-9b09-2335d1b7c3d0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-22%20at%208.52.48%E2%80%AFAM.png?VersionId=6YTuxfq.puZo7k2wbfgemcO5K3QfXYGQ" />

The 114-apartment mix comprises six studios, 27 one-bedroom apartments, 18 two-bedroom apartments, 50 three-bedroom residences and 13 four-bedroom homes. A quarter of the building will be dedicated to affordable housing, well above the mandated 15 per cent&nbsp;

PTW has structured the building vertically, with affordable housing across levels one to six, premium apartments through levels seven to 31, duplex skyhomes on klevels 32 to 43, a penthouse on level 44, and a rooftop plant level above. Six basement levels will provide resident parking and servicing.

The tower is proposed to reach approximately 154 metres, placing it among a growing collection of residential high-rises transforming Chatswood's skyline.

Rather than competing purely on height, PTW says the design has been driven by creating a slimmer tower capable of delivering significantly larger apartments.

"The primary objective of this project was to create a distinctive building that stands out from the recently approved or built structures in the Chatswood area," the design report states, noting the structural efficiency allows greater investment into apartment quality and resident amenity.

Residents would have access to more than 450 sqm of communal open space including landscaped gardens, swimming pool, rooftop entertaining areas, fitness spaces, community gardens, children's play areas and barbecue facilities.

A major focus of the design has been the public domain.

The ground plane has been opened up through landscaped terraces inspired by Willoughby's sandstone ridges, with native planting, public seating, artwork, retail activation and a series of gathering spaces intended to soften what has traditionally been a hard commercial streetscape.

The landscape strategy references Blue Gum forests once common throughout the area, while incorporating Indigenous storytelling, public art and lighting installations to strengthen the connection to Country.

Chatswood has been one of Sydney's busiest apartment markets over the past 12 months, with a steady pipeline of both new project launches and fresh development applications.

Hyecorp recently launched Celine, a 122-apartment development just along Archer Street, while Changfa and Huirong Group are progressing The Anderson, an 84-apartment project on Anderson Street.

Develotek recently secured approval for a 101-apartment tower on Pacific Highway, while Tian An LFD received the green light for Hammond Greens, its apartment development on the edge of the Chatswood Bowling Club.

Commercial property developer FiveX is also making its move into the residential market. Last month it lodged plans for a 61-storey tower with 490 apartments, which, if approved, would become one of the tallest residential buildings in Chatswood.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-fivex-targets-chatswood-skyline-with-61-storey-tower-after-north-sydney-plans">First look: FiveX targets Chatswood skyline with 61-storey tower after North Sydney plans</a>

Aqualand is also expanding its development pipeline following the launch of its luxury residential brand, Aqualand Prestige. The developer has delivered a string of high-end apartment projects across Sydney's affluent suburbs over the past decade, most recently AURA by Aqualand on Walker Street in North Sydney.

[smartcode_project:default project_id=30959 project_image_fid=292863]

It has since quietly assembled its next wave of projects.

Earlier this year Aqualand launched Boronia in Roseville, a boutique 111-apartment development on Larkin Street. The project is one of the first significant apartment developments to launch in the suburb ahead of what is expected to become one of Sydney's most active new housing precincts under the NSW Government's Low and Mid-Rise Housing reforms, which allow greater density around train stations.

[smartcode_project:default project_id=152095 project_image_fid=373685]

The developer has also lodged plans for a two-tower, 413-apartment development on Herbert Street in nearby St Leonards, further strengthening its presence across the Lower North Shore.

Beyond that, Aqualand remains behind the final stage of Barangaroo, where plans will deliver a five-hectare mixed-use precinct comprising new homes, retail, hospitality and community facilities, alongside a new Metro entrance and more than two hectares of public open space, completing the Barangaroo precinct.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/central-barangaroo-development-takes-big-step-with-concept-proposal-approval">Central Barangaroo development takes big step with concept proposal approval</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/first-look-aqualand-joins-st-leonards-apartment-party">First look: Aqualand joins St Leonards apartment party</a> 
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First look: Aqualand pushes ahead with Chatswood apartment tower as SSDA lodged for Archer Street

Mass timber is becoming an increasingly popular construction material in apartment developments, but Adelaide developer <a href="https://www.apartments.com.au/developers/otello">Otello</a> is taking the approach a step further.

At its new <a href="https://www.apartments.com.au/new-apartments/flowe-bowden-18-gibson-street-bowden-sa-5007">Flowe Bowden</a> development, the exposed cross-laminated timber (CLT) structure isn't just about reducing the building's environmental footprint. It also forms the foundation of a broader wellness strategy, influencing everything from indoor air quality and natural materials to the way residents move through and experience the building.

The 115-apartment mixed-use development, designed by Melbourne-based architecture practice Fieldwork, will occupy a prominent island site opposite Bowden Village Reserve, combining one, two and three-bedroom apartments with retail and a dedicated wellness destination.

[smartcode_project:default project_id=152022 project_image_fid=375528]

Wellness isn't confined to a gym or shared resident facility at Flowe. Instead, Fieldwork embedded the concept into the building itself.

The development has been split into two residential wings connected by a naturally ventilated central breezeway, replacing traditional enclosed corridors with open-air walkways that improve natural light, encourage cross ventilation and create more opportunities for neighbourly interaction.

"Rather than treating wellness as something that only happens on the ground floor, our response integrates it throughout the building, which led us to ask what it really means to design a healthy building," Fieldwork Director Quino Holland said.

[smartcode_project:default project_id=152022 project_image_fid=375531]

The building's architecture also reflects Bowden's industrial heritage. The lower podium references the area's historic brick and sandstone buildings, while the upper levels transition to exposed CLT, allowing the timber structure to become a defining feature throughout the apartments and shared spaces.

The use of mass timber sits alongside a range of sustainability initiatives, including a fully electric, gas-free design, rooftop solar and a targeted 5 Star Green Star rating.

[smartcode_project:default project_id=152022 project_image_fid=375524]

Inside the residences, the focus remains on natural, durable materials. Blackbutt engineered timber flooring, exposed CLT ceilings, porcelain surfaces and warm timber joinery create a calming interior palette, while low-VOC finishes and responsibly sourced materials have been selected to improve indoor air quality.

Kitchens have been designed as the centrepiece of each apartment, featuring porcelain island benchtops, timber-look cabinetry and brushed steel tapware, with layouts that maximise natural light and ventilation.

[smartcode_project:default project_id=152022 project_image_fid=375530]

The more traditional interpretation of wellness comes in the form of Level Eleven, a two-storey wellness club spanning the ground floor, mezzanine and first floor.

The facility will include a gym, yoga and reformer Pilates studios, Finnish and infrared saunas, magnesium hot and cold plunge pools, and dedicated recovery spaces. Unlike many residential wellness facilities, Level Eleven will also operate commercially, allowing the broader Bowden community to access the venue while giving residents exclusive membership benefits.

The ground floor has also been designed around everyday living. A café overlooking Bowden Village Reserve will activate the street frontage, while a bike workshop with tool storage, co-working space and dog wash has been incorporated to support daily routines and encourage interaction between residents.

"Flowe brings together my two biggest passions, creating places and creating healthier lives," Otello founder Daniel Harris said.

"We wanted to create something Adelaide hasn't seen before, a genuinely healthy building, where the way you live is lifted without even trying."

Flowe is positioned directly opposite Bowden Village Reserve and within walking distance of Bowden Railway Station and the Adelaide Entertainment Centre, placing future residents just minutes from the Adelaide CBD while remaining connected to one of the city's most established urban renewal precincts.

[smartcode_project_cta:default project_id=152022]

Otello launches wellness-focused Flowe Bowden with Adelaide-first mass timber apartment design

Dwelling Value

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Dwelling values across Australia’s capital cities were 0.9% higher in January driven partially by a rebound in Sydney and Melbourne.
The recent growth conditions have pushed the Melbourne market into first place for annual growth in dwelling values with an 11.0% rise compared with Sydney where values are 10.5% higher over the past twelve months. 
According to the January 2016 CoreLogic RP Data Hedonic Home Value Index results, dwelling values across Australia’s combined capital cities showed a 0.9 per cent rise in January after recording no change in December and a 1.5 per cent drop in November. 
This month on month rise wasn’t quite enough to pull the rolling quarterly rate of growth back into the black, with capital city dwelling values remaining 0.6% lower over the past three months. Hobart led the monthly figures with a 4.7% jump in values, followed by Melbourne where values were 2.5% higher and Canberra with a 2.8% lift. Sydney values also showed a rise of 0.5%, while the remaining four capital cities showed dwelling values to be either flat or down. 
The rolling quarterly trend was looking similarly diverse, with four of Australia’s eight capital cities recording negative dwelling value movements over the past three months, with Sydney dwelling values showing the largest fall, down 2.1 per cent. Values are down over the rolling quarter in Darwin (-1.4%), Adelaide (-0.9%) and Melbourne (-0.1%) as well. The strongest growth in home values over the quarter across the capital cities was found in Hobart with a 3.0% capital gain. 
Despite recording the largest annual decline in home values (-4.1%), Perth dwelling values posted a 1.7 per cent rise over the three months to the end of January. Other capital cities to record a rise over the rolling quarter were Brisbane (+0.8%) and Canberra (+1.2%). 
Over the past twelve months, capital city dwelling values have risen by 7.4% with Sydney’s capital gains of 10.5% no longer the highest annual rate across the capitals. While still a high rate of annual growth, Sydney’s annual rate of capital gain is now at a 29 month low and has been progressively softening since peaking at 18.4% in July last year. 
Melbourne’s housing market has been more resilient to slowing growth conditions which has propelled the annual growth rate to the highest of any capital city, with dwelling values 11.0% higher over the past twelve months. Previously, during the height of the growth phase, there was a large separation between Sydney’s housing market, which was streaking ahead, and Melbourne’s, where the rate of capital gain was substantial but still well below the heights being recorded in Sydney. The latest data reveals Sydney’s housing market is now playing second fiddle to Melbourne’s, at least in annual growth terms.
In fact, over the past six months, the performance gap between Sydney and Melbourne is stark. Sydney dwelling values have reduced by 0.6 per cent between July last year and the end of January 2016, compared with a 3.0 per cent rise across Melbourne dwelling values. The last six months have also seen both Brisbane and Canberra dwelling values rise by 2.0 per cent while Hobart values are 1.3 per cent higher and Adelaide dwelling values have been virtually flat with a 0.1 per cent rise.
Tim Lawless is head of the CoreLogic RP Data research and analytics team and can be contacted <a href="https://blog.corelogic.com.au/author/timlawless/" target="_blank">here</a>.
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tlawless-5VLUrbAk9s

Sydney now second fiddle to Melbourne: Tim Lawless

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EXPERT OBSERVER
Nationally dwelling values as at October 2018 have fallen by - 3.5% from their peak with much larger falls in Sydney, Melbourne, Perth and Darwin.
The reality is that there has been very little improvement in housing affordability; Sydney and Melbourne in particular are a little cheaper, but remain substantially more expensive than other capital cities.
Although house values in Sydney are now -9.3% lower than their peak, the cost of a house in Sydney is still substantially higher than elsewhere at $960,344. In fact, a house in Sydney is now more than double the median value of an Adelaide and Hobart house.
<a href="https://www.propertyobserver.com.au/images/2018/11/22/corelogic%201.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/22/corelogic%201.jpg" alt="">
 
Source: CoreLogic
Looking at house values over time is interesting. 
Sydney has consistently been the most expensive capital city housing market however, although at one point, Perth was slightly more expensive (after Perth values surged more than 40% annually at one point in 2006 on the back the resources boom). Relative to other capital cities the Sydney premium is recorded at: 23% for Melbourne, 76% for Brisbane, 105% for Adelaide, 100% for Perth, 101% for Hobart, 88% for Darwin and 44% for Canberra.
<a href="https://www.propertyobserver.com.au/images/2018/11/22/corelogic%202.jpg" target="_blank">Click here</a> to enlarge;
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/22/corelogic%202.jpg" alt="">
Source: CoreLogic
Despite recent value falls in Sydney, the value gap has not been at such wide levels as it is currently for most cities since late 2003/early 2004. The one exception is the value differential for Melbourne, which over recent years has been substantially narrower than previously.
Similarly, the Melbourne value gap compared to other capital cities (except Sydney) is the widest it has ever been. Historically, the value of houses in Melbourne have been quite similar to those in Brisbane and Perth however, this is no longer the case.
For units, the story is a similar one. Sydney’s median unit value at ($740,394) remains more expensive than median house values in all other capital cities except for Sydney and Melbourne. Similarly, the median Melbourne unit value ($555,517) remains higher than median house values in all other capital cities except Sydney, Melbourne and Canberra.
<a href="https://www.propertyobserver.com.au/images/2018/11/22/corelogic%203.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/22/corelogic%203.jpg" alt="">
Source: CoreLogic
Over time, unit values have saw a consistent trend whereby Sydney has been more expensive than the other capital cities. 
The current premium for Sydney compared to other capital cities sits at: 32% for Melbourne, 90% for Brisbane, 123% for Adelaide, 94% for Perth, 95% for Hobart, 134% for Darwin and 67% for Canberra. 
As was the case for houses, the differential has not been as large as it is currently between Sydney and these other capital cities since 2003/2004. Melbourne was exception where the differential has been reducing over recent years.
With house and unit values falling in Sydney and Melbourne, Mr Kusher expects the premiums to reduce further over the coming months and year(s).
<a href="https://www.propertyobserver.com.au/images/2018/11/22/corelogic%204.jpg" target="_blank">Click here </a>to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/22/corelogic%204.jpg" alt="">
Source: CoreLogic
While this may be the case, any significant reduction in housing costs back to historic premiums would take a long period of declines or flat housing market conditions. Furthermore, it seems unlikely, given the economic strength and populations of Sydney and Melbourne that the value premium of housing in these two cities will revert to historical levels. 
CAMERON KUSHER is a property research analyst for CoreLogic
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ckusher-ujnxiKuFQs

Very little improvement in housing affordability despite dwelling decline

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<h3 class="post-title entry-title"><a href="https://petewargent.blogspot.com.au/2015/09/house-prices-rise-in-august"></a></h3>
<div>The Reserve Bank released its latest Chart Packs to 27 August, which showed that on a national basis house price growth has steepened.</div>
<h3 class="post-title entry-title"><a href="https://petewargent.blogspot.com.au/2015/09/house-prices-rise-in-august"></a></h3>
<div>This data is now presented on a log scale, which is just as well since Sydney prices were heading up almost vertically when presented on a linear scale.</div>
<h3 class="post-title entry-title"><a href="https://petewargent.blogspot.com.au/2015/09/house-prices-rise-in-august"></a></h3>
<div>Brisbane is finally now joining Sydney and Melbourne by shaping in an upwards trajectory.</div>
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<div><a href="/images/2015/09/04/6bl-houspri-small.gif" target="_blank">Click to enlarge</a></div>
<img src="/images/2015/09/04/6bl-houspri-small.gif" alt="">
CoreLogic-RP Data also released its price indices for August 2015 over the last week.
<div>Over the past quarter house prices have soared in Sydney (+7.4 per cent), Melbourne (+8.0 per cent) and Brisbane (+2.2 per cent).</div>
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<div>On the other hand, on a quarterly basis house prices declined in Adelaide, Perth, Canberra and Darwin. Regional house prices in aggregate also declined over the past quarter.</div>
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<div><a href="/images/2015/09/04/RPD3.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/09/04/RPD3.jpg" alt=""></div>
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<div>
<div>On Twitter, Cameron Kusher of the same company updated his chart of home values since December 2008, which underscores the importance of capital growth to investors.</div>
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<div>While it was possible for investors to find a positive cash flow in Hobart back in 2008, since that time home values have been stone dead flat in the Tasmanian capital, while Sydney prices have burned up by 76.4 per cent.</div>
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<div>Brisbane appears most likely to be the next to go over just 9 per cent growth in home values since 2008.</div>
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<div>Click to enlarge</div>
<div><img src="/images/2015/09/04/RPD1.png" alt=""></div>
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<div>Looking at the split between house and unit price growth we can see that Sydney unit values exploded 9.2 per cent higher over the last 3 months (this had been evident for quite some time at auctions, and the index probably lags) as affordability constraints related to detached houses bites.</div>
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<div><a href="/images/2015/09/04/RPD2.jpg" target="_blank">Click to enlarge</a></div>
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PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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House prices rise in August: Pete Wargent

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 Get the good oil from SQM Research's annual Boom &amp; Bust report.
"As the table below reveals, SQM Research forecasts an acceleration of dwelling price, with Sydney dwelling prices forecast to rise 11 percent to 16 percent for the 2017 calendar year," the report states.
"The capital city average forecast is for dwelling prices to rise 6 percent to 10 percent."
 Click to enlarge
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<div>Source: SQM Research</div>
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<div>SQM has an impressive track record being more right than the rest, even when going against consensus.</div>
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<div>Purchase your copy of the detailed Boom &amp; Bust report <a href="https://www.sqmresearch.com.au/boombustreport.php" target="_blank">here</a>.</div>
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PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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Where to for property prices in 2017?

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Melbourne was the only capital city across the quarter to record dwelling declines, the June release of CoreLogic's Hedonic Home Value Index found.
They saw declines of -0.9 per cent over the month of May, following -0.3 per cent declines in April.
Hobart bounced back strongly from being the only other capital in April to record losses, posting 0.8 per cent gains over May.
Only Hobart, Canberra and Adelaide didn't see declines in May.
Sydney's dwelling values dropped -0.4 per cent last month, the first time they've seen a decline since June last year.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2020/7/1/CL%20Index%20June%201.jpg" target="_blank">click here</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/7/1/CL%20Index%20June%201.jpg" alt="">
Transaction activity through May showed positive signs, with an 18.5 per cent bounce back in activity following a 33 per cent drop in April.
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CoreLogic head of research, Tim Lawless, said “Considering the weak economic conditions associated with the pandemic, a fall of less than half a percent in housing values over the month shows the market has remained resilient to a material correction.
"With restrictive policies being progressively lifted or relaxed, the downwards trajectory of housing values could be milder than first expected.”
Consumer sentiment has been improving since early April, with the weekly ANZ Roy Morgan index rising consecutively for the past eight weeks, 42 per cent higher than when it bottomed out in late March.
Westpac's MI consumer sentiment index also rebounded 16 per cent from April to May.
Lawless says historically there has been a strong correlation between consumer sentiment and housing market activity.
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“With consumers feeling more confident, households are better equipped to make high commitment decisions such as buying or selling a home", Lawless said.
"A lift in housing market activity should also support broader economic activity, with housing turnover providing positive flow-on effects to other sectors including retail, construction and banking."
<h1>Houses v Units</h1>
Melbourne's decline was driven primarily by houses, down -1.1 per cent compared to the -0.6 per cent felt in the unit market.
It was a similar story for Sydney, whose housing market declines (-0.6 per cent) outweighed the unit market (-0.1 per cent).
Darwin's unit market took the biggest hit across any market, down -2.9 per cent over May, however their unit quarterly figures are still 2.2 per cent up.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2020/7/1/CL%20full%20index%20June%201.jpg" target="_blank">click here</a>.
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Melbourne sees biggest quarterly dwelling price drop: CoreLogic

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The latest CoreLogic figures are likely to show price growth flat-lined in April with Sydney having its first monthly decline since December 2015.
Full-month figures due to be released on Monday will show the country's peak growth phase has possibly paused or passed.
CoreLogic head of research Asia Pacific Tim Lawless noted the CoreLogic hedonic home value index has virtually held steady over the first twenty-seven days of the month for the five city aggregate index, "with a subtle fall in Sydney values over the month to date." 
"Recent regulatory changes aimed at slowing the pace of investment and interest-only lending have pushed mortgage rates slightly higher and slowed the pace of investment demand. These changes appear to be having a dampening effect on housing market conditions."
" The softer results come after a strong re-acceleration in home values that has been evident through the second half of 2016 and the first quarter of 2017. 
"Recent regulatory changes aimed at slowing the pace of investment and interest-only lending have pushed mortgage rates slightly higher and slowed the pace of investment demand. 
"These changes appear to be having a dampening effect on housing market conditions." 
The figures had Sydney up 1.4 percent in March - up 18.9 percent over the 12-month period.
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The last decline in Sydney values came in the December quarter of 2015, with a 1.4 percent decline in November and a 1.2 percent fall in December, coinciding the first round of credit curbs.
Monday's report will include figures for the five mainland capitals. 
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Subtle fall in Sydney values in April: CoreLogic

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GUEST OBSERVER
We’ve discussed the changing attitudes towards the amount of backyard inner city buyers prefer. 
We found that the ‘sweet spot’ in the ratio of internal space to land size for period terraces was between 1:0.3 to 1:0.47, however this was likely skewed by larger properties bought by the extremely wealthy. For this section of the market, the focus 
is on creating a dream sanctuary with the largest block size. Here, where space is no longer a luxury but a given, swimming pools are a common addition to backyards. 
As Melbourne skinny dips in and out of summer’s hottest days, Secret Agent thought we’d revisit our research on these cool inner city retreats to find out the value created by having a pool in your house. 
We looked at ten suburbs in Melbourne’s inner East and South East: Kew, Hawthorn, Hawthorn East, Toorak, Kooyong, Armadale, Malvern, Glen Iris, Camberwell and Brighton. The study was limited to only include three to five bedroom houses for a more realistic representation of a pool’s value. 
On average, a swimming pool added between 10% and 16% to the value of a house, with the lowest expected value created being approximately $140,000.
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However, this varied between suburbs, from as low as 6% in Camberwell, up to 35% in Hawthorn East. In Kew, houses that featured a pool were expected to sell for $450,000 more, which is a premium of about 30%. In Hawthorn, a pool is expected to only add $180,000 (11%) to the value of a property. 
There are a few explanations for the differences in added value. For example, a big house may have other extensive renovations aside from a pool; such as a cellar, theatre room, tennis courts and sculptured gardens. Additionally, the number of car spaces and the school zoning would have an impact on sale price. 
A swimming pool can be a wonderful addition and a good investment despite its seemingly high upfront costs, since the lowest expected value it can create is around $140,000. Much more than just dollars and cents, a pool satisfies our natural, instinctive need to be close to water. 
For more information, <a href="https://secretagent.com.au/">click here</a>.
 
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Pools add at least $140,000 in value: Secret Agent

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GUEST OBSERVER
Politics has its own purgatory, as Malcolm Turnbull and Tony Abbott might have reflected when they sat on the same table at the Howard government’s 20th anniversary dinner on Wednesday. After a day when their animosity had been on shocking display, here they were together, unable to escape.
Among the speakers during this nostalgia night was Peter Costello, whose prime ministerial hopes John Howard held at bay.
Which prompts the question: if you’re prime minister, is it easier to deal with the ambitions of someone who covets your job, or the revenge of one whose job you’ve grabbed? Arguably there are more restraints on an aspirant than on a bitter “ex” with little regard for consequences.
As Abbott has become increasingly overt in his sorties against Turnbull, he is discrediting himself. The defence department has trashed his much-publicised claim this week – on the back of leaked classified material – that the Turnbull government delayed the submarines project.
So far Abbott has been undeterred by fear of self-harm. His critics believe (or hope) the public will say enough is enough. Abbott’s ability to wound would be less, however, if the Turnbull government had its act together.
And that takes us to the dreadfully mismanaged tax policy process.
Under party and other pressures, Turnbull is said to have backed away from action on negative gearing, although it remains on the options list. Superannuation is a maze. It is still unclear when and in what form the tax package will be released. Treasury is now working frantically. Turnbull has become impatient. The expenditure review committee is due to consider tax on Tuesday.
Treasurer Scott Morrison appears spooked, assailed by backbench nerves and media criticism, and fighting to prevent further backsliding from a package he wants substantial enough to finance at least modest and probably targeted tax relief. He and Turnbull often seem in different places, and not just on tax options. Morrison for months noisily ruled out giving the states extra funding to help with health and education. It is now expected Turnbull will provide some pre-election sweetener.
With his credibility already low, Morrison did himself no good when he grabbed a report on abolishing negative gearing on established dwellings done by BIS Shrapnel, which he described as “a very damning … indictment on Labor’s policy”. The report predicted a rise in rents, a fall in new home building, and GDP shrinking by A$19 billion a year on average.
The work had different assumptions from the ALP policy, pre-dated Labor’s plan, and was prepared for a client BIS Shrapnel refused to identify. It contained an embarrassing error in one of its figures.
The report’s methodology and estimates have also come under fire, in a critique from Grattan Institute’s chief executive John Daley and Danielle Wood, a fellow at the institute. And they condemn the fact a report “that would flunk any first-year economics course has been allowed a serious voice in the public debate”.
The concern “goes beyond the claims of this nonsense-on-stilts report”, they argue, to the prominence received by “independent” reports produced to advance vested interests' causes. “No matter how outlandish their claims or how obscure their provenance, the media report them and politicians quote them. The public, confused or frightened by the numbers, forms the view that policy change is simply too risky.”
The message should at least be absorbed by the media, especially as the election approaches. It is not much good appealing to the politicians to exercise restraint. Scaring people is precisely what the government seeks to do in the negative gearing debate. But the rapid discrediting of the Shrapnel report meant Opposition Leader Bill Shorten and Shadow Treasurer Chris Bowen were able to push back with some authority.
As the contest about tax intensifies, the contrast is notable between the performances of Morrison and Bowen.
Morrison has been at odds with his leader; he has been forced back from bold ambitions to modest measures yet to be landed. Bowen has spearheaded robust policies that put the opposition on the front foot in the debate when the government still has nothing on offer. In the House of Representatives he and others have cornered the government with tight questions. Outside parliament, Bowen is quick to have press releases out to counter claims about Labor’s policy.
But the debate will get tougher; Shorten can be thankful his shadow treasurer is good for a lot of heavy lifting. If Turnbull’s treasurer was performing as competently as his “shadow”, Turnbull might be better placed on the tax front.
Meanwhile there has been an interesting development for the double-dissolution watchers. The list of bills the government wants passed in the last week of this session, commencing March 15, does not include the much-talked-about Australian Building and Construction Commission (ABCC) legislation.
The Greens have agreed to extended hours that week to get Senate voting changes through, but not to deal with the ABCC. In public comments the government has repeatedly linked the ABCC legislation to the threat of a double-dissolution election. Its exclusion from the priority list would weaken the case if the government wanted to include it as a “trigger” on the grounds it had “failed to pass”.
But if Turnbull decides to use the brand new voting system to quickly clean out the Senate crossbenchers, he has “trigger” legislation regardless of the ABCC.
 
Michelle Grattan is professorial fellow, University of Canberra and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/michelle-grattan-20316" target="_blank">here</a>.
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