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.

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.

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.

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.

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.

&nbsp;

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.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

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>.

Joel Robinson

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

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Dwelling Values

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Sydney's property market may soon turn with CoreLogic research director Tim Lawless suggesting conditions will start to favour buyers according to the June CoreLogic Hedonic Home Value Index.
He said homes in the city are taking longer to sell and vendors are starting to offer larger discounts on their asking prices in order to make a sale.
"The typical Sydney home is now taking 40 days to sell compared with 26 days a year ago and discounting rates have risen from 5.5 percent a year ago to 5.6 percent,” he said. 
Some positive news for Sydney buyers is that there are early signs that Sydney’s housing market may be starting to turn in favour of the buyer.
“In balance, Australia’s two largest cities are facing increased affordability challenges that are likely to negatively impact the trajectory of dwelling values and activity as more prospective buyers are blocked from the market.
The CoreLogic Hedonic Home Value Index for June notes Sydney auction clearance rates have shown a noticeable improvement since December 2015 with Sydney clearance rates higher than 70 percent so far this year and the last two months posting clearance rates in the middle 70 percent range. Melbourne auctions have been around 70 percent to high 60 percent week to week in 2016.
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Early signs the Sydney’s housing market may be starting to turn in favour of the buyer: Tim Lawless

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Capital city dwelling values in Sydney, Melbourne and Hobart have had a substantial rise according to the June Home Value Index from CoreLogic.
Dwelling values across the combined capital cities rose by 0.5 percent in June to be 8.3 percent higher over the past twelve months.
CoreLogic research director Tim Lawless said the June results continued to show a rebound in housing market conditions after weaker results were reported for the final quarter of 2015 when the combined capitals’ index was down 1.4 percent.
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He said the pace of capital gains in June was substantially lower than the April and May results when CoreLogic reported a 1.7 percent, and 1.6 percent month-on-month lift in capital city dwelling values.
“The monthly growth rate reduction is likely to be very much welcomed by state and federal government policy makers and regulators who may be concerned about a sustained rebound in capital gains," he said. 
“As an example, home values in Sydney have been rising for four years, and have increased by a cumulative 59 percent over this time frame. Melbourne dwelling values have been rising for the same length of time and have moved 41% higher over the growth cycle to date.
“The combined capitals’ headline result was driven by a strong 1.2 percent rise in Sydney dwelling values, and a 0.8 percent gain across Melbourne’s housing market. Hobart values also showed strong conditions with dwelling values moving 1.8 percent higher over the month.
"Housing market conditions in both Perth and Darwin are suffering from reduced housing demand resulting from a sharp downturn in migration and weaker employment opportunities. Rental rates have also fallen substantially in both cities, highlighting that lower housing demand is not confined to home buyers but also renters."
Monthly falls of more than 1 percent were recorded in Darwin (-1.6 percent), Adelaide (-1.3 percent) and Canberra (-1.1 percent), while the falls in Brisbane (-0.1 percent) and Perth (-0.8 percent) were less severe.
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Lawless said some positive news for Sydney buyers is that there are early signs that Sydney’s housing market may be starting to turn in favour of the buyer.
“We’re seeing homes in the city taking longer to sell and vendors are starting to offer larger discounts on their asking prices in order to make a sale," he said.
"The typical Sydney home is now taking 40 days to sell compared with 26 days a year ago and discounting rates have risen from 5.5 percent a year ago to 5.6 percent.”
“In balance, Australia’s two largest cities are facing increased affordability challenges that are likely to negatively impact the trajectory of dwelling values and activity as more prospective buyers are blocked from the market."
According to the report, capital city dwelling values have increased by 8.3 percent over the financial year which is lower than what was recorded over the previous two financial years when capital city dwelling values were 9.8 percent higher over 2014/15 and 10.1 percent higher in 2013/14. The recent peak rate of annual growth was recorded in July last year when capital city dwelling values were 11.1 percent higher over the preceding twelve month period. 
 
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June's ongoing dwelling price growth in Sydney and Melbourne: Tim Lawless

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Enter housing price growth into the topic although make sure if you want to be right that you always select the plural.
For example, those in the real estate industry always focus on suburban or post code housing price growth. What we are reading now are housing price growth predictions of significant drops for Sydney and Melbourne which just so happen to be Australia’s largest and most active markets.
Allow me to put this into perspective given most have failed miserably in educating readers as to what exactly this means. Let’s say for the sake of this argument you own a house in Mosman – in six months’ time the value of your home will in all probability have gone up due to record low stock levels. However, if you had recently acquired an investment off – the – plan apartment, in six months’ time that would have definitely dropped well below the purchase price.
Recently we learnt that the Australian banks are no longer lending to foreign buyers and many areas across Sydney have now been black listed from obtaining any loans due to a significant oversupply of property. We need to bear in mind that whenever we see major price adjustments to real estate this can only happen when you have an acute oversupply.
The final nail in the housing investment market was delivered this week in the NSW budget when stamp duty payable by foreign buyers would be hit with a new four (4) per cent surcharge. On top of that they will also be hit with an additional 0.75 per cent land tax surcharge on residential real estate. If ever these tens of thousands of foreign buyers needed a reason to walk away from their deposits they certainly have one now.
To add further confusion to this potential housing catastrophe nobody can answer does this surcharge apply to those investors who have already paid their deposit and are yet to pay stamp duty? If history is anything to go by then you would say confidently that it does. The major lenders would be hoping that it does as they would be hoping that many of their new lending clients walk away from their deposits as that significantly reduces their exposure. Although this can be a double whammy if they are also funding the developer – so this is the double – edged property sword.
We should also clean up some incorrect speculation from commentators that this new surcharge will have a significant effect on home prices too. Well it won’t because these foreign buyers can only buy off – the – plan so it won’t play any part in the established housing markets.
One would have to say that the new surcharges will be a total failure although it is disappointing that the NSW government did absolutely no due diligence with what the long term effect would be on the housing markets other than to drive the investment real estate markets values down. The tax that should have been brought down was a tax against those investors who land bank because they would make plenty from that given a large percentage of foreign buyers leave these properties vacant.
The NSW government would be very concerned that stamp duty received from the established property markets is in significant decline although there is no mention of that as all the revenue has arrived thanks to a robust investment market, hence the new surcharge. Should the new surcharge tax turn out to be a dismal failure which I believe it will then the NSW government will be forced into hopefully a complete review of property taxes.
Everyone in the real estate industry knows full well that the reason for record low stock levels is entirely due to home owners baulking at paying exhorbitant stamp duty, so instead they are renovating. One day the NSW government will explore a broad based land tax paid annually by home owners as a logical replacement to stamp duty with Australian residents receiving a discounted rate.
One would think by now that policies on the run are usually always met with disaster where the last example was the failed and now abolished mining tax.
MOSMAN – 2088
Number of houses on the market this time last year – 55
Number of houses on the market last week – 51
Number of houses on the market this week – 48
Number of apartments on the market this time last year – 66
Number of apartments on the market last week – 41
Number of apartments on the market this week – 41
CREMORNE – 2090 
Number of houses on the market this time last year – 13
Number of houses on the market last week – 10
Number of houses on the market this week – 13
Number of apartments on the market this time last year – 11
Number of apartments on the market last week – 18
Number of apartments on the market this week – 18
NEUTRAL BAY – 2089 
Number of houses on the market this time last year – 3
Number of houses on the market last week – 8
Number of houses on the market this week – 7
Number of apartments on the market this time last year – 29
Number of apartments on the market last week – 19
Number of apartments on the market this week – 19
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985.  He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000.
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Home truths needed on housing debate: Robert Simeon

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Melbourne houses are now at market peak, according to the HTW June 2016 property clock.
Melbourne joins NSW's Central Coast, Dubbo and Newcastle also deemed at their peak.
Melbourne was approaching the peak last month, according to the valuation firm, Herron Todd White.
Bundaberg and Townsville in Queensland are placed at the bottom of the property cycle.
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Melbourne houses now at market peak: HTW June property clock

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Knight Frank's Global House Price Index for Q1 2016 reports Asian markets are stumbling.
In the 6th position on the index, house prices in Australia increased 8.7 percent year-on-year, down from the 4th position in the previous quarter, although growth is still trending above the 10-year annual average of 4.2 percent. Looking back, the last previous low of 5.1 percent annual growth for houses was recorded in January 2014. 
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Singapore, Hong Kong and Taiwan have all seen prices decline by between 3 percent and 6 percent in the year to March 2016, a combination of sluggish economic growth, regulatory measures and new supply are restraining price growth.
Nicholas Holt, Head of Research for Asia Pacific, says the slowdown in growth across many emerging Asian economies has weighed on residential property markets.
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Indonesia and Malaysia are feeling the impact of the wider macro-economic slowdown.
India continues to suffer from pockets of oversupply and a gap in pricing expectations between developers and buyers.
"The Chinese market is still seeing polarised performance, where Tier-1 and large Tier-2 cities are seeing price growth; whilst smaller Tier-2 cities, Tier-3 and Tier-4 cities are struggling with high unsold inventory.”
The index grew by 3.4 percent on average in the 12 months to March 2016, but top performing countries such as Australia are seeing their rate of annual price growth slow.
According to Michelle Ciesielski, Director, Residential Research Australia the overall growth in annual capital values has returned to more sustainable levels in 2016 – close to that experienced just over two years ago in the Australian mainstream housing market.
“Despite confidence from better-than-expected GDP growth in the March 2016 quarter (to 3.1 percent), a fall in unemployment (to 5.7 percent) together with the cut of 25 bps to the official cash rate in May 2016 to 1.75 percent, it is possible we will see a further uptick in investor lending, and modest growth in capital values along the Australian east coast in the coming months.
“However, it is unlikely we will see price growth as strong as experienced in the peak of mid-2014 and late-2015.” 
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Kate Everett-Allen, Partner, International Residential Research, noted the US and the UK are largely treading water, price growth in the first three months of 2016 equated to 0.9 percent and 1.6 percent respectively, linked in part to political worries, notably potential Brexit in the UK and the US presidential election.
House prices in New Zealand increased 11 percent year-on-year but have slipped marginally from their peak in Q3 2015.
Weaker economic growth and regulatory changes in the form of higher deposits for investors have dampened demand. 
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Economic uncertainty is filtering into global house prices: Knight Frank

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Dwelling values across the combined capital cities of Australia rose by 1.6 percent in May, according to CoreLogic RP Data.
According to the CoreLogic Hedonic Home Value Index Results, released today, the strong May numbers were largely the result of a surge in Sydney dwelling values which were up 3.1 percent over the month and 6.6 percent over the quarter.
CoreLogic state arise of more than 1 percent month-on-month was also recorded in Melbourne (1.6 percent), Canberra (2.5 percent) and Hobart (2.2 percent).
Perth was the only city to record a fall in dwelling values over the month, down 2.7 percent.
The annual rate of growth has moved substantially higher to reach 13.1 percent per annum after reaching a recent low point of 7.4 percent per annum growth over the 12 months ending March 2016.
Despite Sydney’s bounce in the trend rate of growth, Melbourne’s housing market is still recording the highest annual rate of capital gain at 13.9 percent. 
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CoreLogic head of research Tim Lawless said the high rate of auction clearance has demonstrated a remarkable bounce back after tracking below 60 percent during December with Sydney’s auction market recording a clearance rate as low as 52.9 percent in December. 
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 “The extent to which investors are fuelling the latest surge in Sydney home values is difficult to quantify, however housing finance data to March shows investors, as a proportion of all new mortgage commitments, have been trending higher since reaching a recent trough in November last year at 42.9 percent. The March data shows investors now comprise of 47.6 percent of all new mortgage commitments which is the highest proportional reading since August last year," he said.
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“Anecdotal evidence suggests investor numbers may have increased further from this time, with some lenders reversing the tighter lending requirements that were previously in place for investment purposes as growth in investor related credit tracks well under the APRA speed limit of 10 percent per annum.
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“Lower mortgage rates are likely to have a positive effect on consumer confidence and housing market conditions, with the standard variable mortgage rate now at its lowest level since 1968. 
“While the annual pace of growth has clearly reversed direction on the latest few months of data, the trend is still relatively fresh and may be short-lived. 
“Despite lower mortgage rates in May, lending conditions are tighter now than they were a year ago. Recent data from APRA highlights that interest only lending is now at its lowest level since March 2013 and new mortgages with an LVR (loan to value ratio) higher than 90 percent are at the lowest reading since March 2011. 
“With the federal election only a month away, we can expect housing to remain in the spotlight more than usual."
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Sydney's surprise 6.6 percent quarterly surge: CoreLogic RP Data Hedonic Home Value Index

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Some 12.6 percent of Hobart homes resold over the September 2015 quarter were at a loss compared to 14.1 percent at the end of the previous quarter and 15.7 percent a year ago, according to the most recent CoreLogic RP Data pain and gain report.
Across the council areas, Sorrell (25.6 percent), Brighton (19.5 percent) and Derwent Valley (18.5 percent) had the highest proportion of loss-making resales over the quarter.
The proportion of loss-making resales was lowest in Hobart (6.0 percent), Kingborough (6.5 percent) and Glenorchy (14.0 percent) council areas. 
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Hobart's Sorrell, Brighton, Derwent Valley hit by highest proportion of losing resales: CoreLogic RP Data

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CoreLogic RP Data research director Tim Lawless said capital city housing markets started the year off on a positive note with dwelling values rising by 0.9% in January in his latest video update.
  The month on month lift in dwelling values wasn't enough to offset the weaker readings in December and November, according to Tim, who said this dragged the rolling quarterly rate of capital gain down 0.6%.
To watch the January Housing Market update <a href="https://www.corelogic.com.au/housing-update/" target="_blank">click here</a>.
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Watch the latest housing market update across the capital cities: Tim Lawless

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Dwelling values across Australia’s capital cities were 0.9% higher in January driven partially by a small 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% rise compared with Sydney where values are 10.5% higher over the past twelve months.
But both major capitals are down over the quarter.
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According to the January 2016 CoreLogic RP Data Hedonic Home Value Index results released today, 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. 
CoreLogic RP Data head of research Tim Lawless noted 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.
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The strongest growth in home values over the quarter across the capital cities was found in Hobart with a 3% 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.
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“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,” Mr Lawless said.
“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.
"Over the past six months, the performance gap between Sydney and Melbourne is stark.
"Sydney dwelling values have reduced by 0.6 percent between July last year and the end of January 2016, compared with a 3.0 percent rise across Melbourne dwelling values.
"The last six months have also seen both Brisbane and Canberra dwelling values rise by 2.0 percent while Hobart values are 1.3 percent higher and Adelaide dwelling values have been virtually flat with a 0.1 percent rise,” Mr Lawless said. 
 
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jchancellor-FAypfDUnLy

Move over Sydney, Melbourne takes over as the best performing capital city 

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GUEST OBSERVER
I hate to use the phrase but I love the Gold Coast lifestyle.
Not in any particular order but from the lack of traffic chaos, the awesome climate and the wonderful coastline, stunning hinterland and great places to eat.
The geography, location and natural landscape are right.
Nobby Beach is a family favourite, I love Burleigh and Currumbin beaches.
Inland you can’t beat time at Tamborine Mountain or Springbrook.
Then there is Paradise Point, Main Beach and The Spit, not forgetting the whole of the Broadwater/Jumpinpin and the place my family chooses to call home, Sanctuary Cove.
There’s great places to eat all over the coast now, some of the people aren’t bad either. 
For an area that started its growth in the 1960s/70s/80s so much of the architecture, let’s be honest, is pretty awful.
Luckily the past 15 years or so has seen real improvements in architectural styles whether it is an apartment building, single homes or the emerging townhouse/terrace type housing.
The Gold Coast grew from virtually nothing to over half-a-million in only four or five decades. This was fuelled by tourism, holiday homes and overseas home buyers and retirees.
Suddenly we have this substantial population — sixth in the country and no core industries or major sources of employment other than tourism which is great when the dollar is weaker as it is now, but that can create an almost never ending cycle of good and bad times.
Yes, boat building is back, but that again is an industry with highs and lows, so is construction. We need back-up plans for the inevitable quiet times of the future.
A hard task and I cannot offer any real solutions, but here is something political — sorry to the ‘no’ campaigners regarding the cruse ship terminal, but the latest offshore proposal to me is fantastic and an absolute must.
There is no doubt and it is very easy to define a market in recovery mode.
You review homes that sold at peak prices in previous years — that price then became unachievable for many years.
Only when the value of that same home has reached that former peak and moved slightly ahead can you be sure you are in recovery mode.
Right now across the Coast there are many homeowners that will happily confirm this.
So will we see growth? I believe so.
There’s good times ahead.
Andrew Winter writes columns for the News Ltd papers on real estate, with the <a href="https://www.goldcoastbulletin.com.au/news/gold-coast/property-guru-andrew-winter-says-good-things-are-in-store-for-the-coast/news-story/87f5d24957cf797287434d1400f45330" target="_blank" style="line-height: 1.3em;">comments taken from questions posed by the Gold Coast Bulletin on January 2</a>.
Andrew Winter is presenter, <a href="https://www.lifestyle.com.au/tv/selling-houses-australia/" target="_blank">Selling Houses Australia</a> presenter.
Andrew Winter says he's obsessed with houses. With 25 years experience in the property trade, he believes that if you haven’t sold your house within two months then you’re doing something wrong.
Starting his career in a real estate agency at the tender age of 17, Andrew sold his first home within a matter of months. He then went on to spend some years with a firm of Chartered Surveyors fine tuning his house selling skills, but combining it with inside knowledge of construction, structural issues, building faults and problems.
To further expand his career he made the move to Central London where he sold apartments and townhouses in the famous Baker Street and Regents Park areas. Whilst selling properties in the redeveloped Canary Wharf area in London and Kent, his career gained an added angle – he was chosen to present and research a new TV program about his favourite subject “Selling Houses”. Over the last eleven years the program has gone from strength to strength both in the United Kingdom, Australia and other countries worldwide.
Andrew and his family moved to Australia in 2005. 
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