<p><strong>IN BRIEF</strong></p>

<ul>
	<li>
	<p>Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.</p>
	</li>
	<li>
	<p>Construction on The Waterline is complete, with the first residents expected to move in from mid-October.</p>
	</li>
	<li>
	<p>Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.</p>
	</li>
</ul>

<hr />
<p>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.</p>

<p>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.</p>

<p>[smartcode_project:default project_id=113271 project_image_fid=366708]</p>

<p>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.</p>

<p>“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.</p>

<p>“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.</p>

<p>“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.”</p>

<p>[smartcode_project:default project_id=113271 project_image_fid=366709]</p>

<p>The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.</p>

<p>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.</p>

<p>Each residence also has three secure basement car spaces and additional storage.</p>

<p>“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.</p>

<p>“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.”</p>

<p><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" /></p>

<p>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.</p>

<p>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.</p>

<p>Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.</p>

<p>“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.</p>

<p>“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.</p>

<p>“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”</p>

<p>Sky Homes are priced from $3.65 million.</p>

<p>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.</p>

<p>Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.</p>

<p>Harbour Shores is being marketed by Colliers International.</p>

<p data-end="555" data-start="341">[smartcode_project_cta:default project_id=113271]</p>


Joel Robinson

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

<p data-end="387" data-start="97">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.</p>

<p data-end="697" data-start="389">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.</p>

<p data-end="925" data-start="699">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.</p>

<p data-end="1217" data-start="927">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.</p>

<p data-end="1217" data-start="927"><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" /></p>

<p data-end="1538" data-start="1219">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.</p>

<p data-end="1723" data-start="1540">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.</p>

<p data-end="2063" data-start="1725">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.</p>

<p data-end="2063" data-start="1725"><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" /></p>

<p data-end="2205" data-start="2065">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.</p>

<p data-end="4244" data-start="4087">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.</p>

<p data-end="4598" data-start="4246">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.</p>

<p data-end="4798" data-start="4600">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.</p>

<p data-end="4798" data-start="4600">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.</p>

<p data-end="5032" data-start="4800"><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" /></p>

<p data-end="5486" data-start="5211">&nbsp;</p>

<p data-end="2205" data-start="2065">The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.</p>

<p data-end="2375" data-start="2207">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.</p>

<p data-end="2712" data-start="2377">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.</p>

<p data-end="2751" data-start="2714"><em><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></em></p>

<p data-end="2865" data-start="2753">Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.</p>

<p data-end="3067" data-start="2867">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.</p>

<p data-end="3379" data-start="3069">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.</p>

<p data-end="3379" data-start="3069"><a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station"><em>First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</em></a></p>

<p data-end="3883" data-start="3659">&nbsp;</p>


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

<p data-end="540" data-start="324">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<br />
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.</p>

<p data-end="680" data-start="542">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.</p>

<p data-end="909" data-start="682">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.</p>

<p data-end="909" data-start="682">[smartcode_project:default project_id=6109 project_image_fid=376073]</p>

<p data-end="1076" data-start="911">Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.</p>

<p data-end="1166" data-start="1078">"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.</p>

<p data-end="1257" data-start="1168">"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."</p>

<p data-end="1257" data-start="1168">[smartcode_project:default project_id=6109 project_image_fid=376072]</p>

<p data-end="1406" data-start="1259">The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.</p>

<p data-end="1475" data-start="1408">For Palumbo, the project also marks a return to familiar territory.</p>

<p data-end="1671" data-start="1477">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.</p>

<p data-end="1726" data-start="1673">"The opportunity emerged, and we moved to secure the site," Palumbo said.</p>

<p data-end="1874" data-start="1728">"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.</p>

<p data-end="2025" data-start="1876">"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.</p>

<p data-end="2111" data-start="2027">"Now we're on the market and those changes have really resonated with local buyers."</p>

<p data-end="2225" data-start="2113">That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.</p>

<p data-end="2383" data-start="2227">Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.</p>

<p data-end="2446" data-start="2385">"Local owner-occupiers have always been our market," he said.</p>

<p data-end="2602" data-start="2448">"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."</p>

<p data-end="2602" data-start="2448">[smartcode_project:default project_id=6109 project_image_fid=376068]</p>

<p data-end="2742" data-start="2604">The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.</p>

<p data-end="3013" data-start="2744">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.</p>

<p data-end="3013" data-start="2744"></p>

<p data-end="3065" data-start="3015">Location has been a major part of the proposition for both buyer cohorts.</p>

<p data-end="3065" data-start="3015">[smartcode_project:default project_id=6109 project_image_fid=376075]</p>

<p data-end="3250" data-start="3067">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.</p>

<p data-end="3376" data-start="3252">Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.</p>

<p data-end="3516" data-start="3378">Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.</p>

<p data-end="3592" data-start="3518">"There's very few allotments on that side that can be developed," he said.</p>

<p data-end="3714" data-start="3594">"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."</p>

<p data-end="3861" data-start="3716">Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.</p>

<p data-end="4004" data-start="3863">Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.</p>

<p data-end="4145" data-start="4006">Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.</p>

<p data-end="4145" data-start="4006">[smartcode_project:default project_id=6109 project_image_fid=376067]</p>

<p data-end="4273" data-start="4147">The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.</p>

<p data-end="4480" data-start="4275">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.</p>

<p data-end="4650" data-start="4482">Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.</p>

<p data-end="4785" data-start="4652">The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.</p>

<p data-end="4889" data-start="4787">Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.</p>

<p data-end="5144" data-start="4891">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.</p>

<p data-end="5305" data-start="5146">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.</p>

<p data-end="5378" data-start="5307">"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.</p>

<p data-end="5495" data-start="5380">"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."</p>

<p data-end="5650" data-start="5497">Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.</p>

<p>[smartcode_project_cta:default project_id=6109]</p>

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

<p>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.</p>

<p>The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.</p>

<p><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.</p>

<p>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.</p>

<p>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.</p>

<p><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" /></p>

<p>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.</p>

<p>"St Lucia is one of those suburbs people do not want to leave," Gray said.</p>

<p>"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.</p>

<p>"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.</p>

<p>"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."</p>

<p>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.</p>

<p>GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.</p>

<p>"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.</p>

<p>"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.</p>

<p>"The fundamentals here are as strong as anything we have assessed in Brisbane."</p>

<p><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" /></p>

<p>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.</p>

<p>GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.</p>

<p>The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.</p>

<p>Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.</p>

<p>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.</p>

<p>Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.</p>

<p>Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.</p>

<hr />
<h2>SILK PROJECT FACTS</h2>

<p>Developer-builder: GRAYA</p>

<p>Project: Silk</p>

<p>Location: 16-18 Sandford Street, St Lucia</p>

<p>Apartments: 22</p>

<p>Built form: 15 levels</p>

<p>Site: 810 sqm riverfront holding</p>

<p>Mix: 16 split-floor and six full-floor residences</p>

<p>Status: Development approved</p>

<p>Next step: Construction planning underway</p>

<p>[smartcode_project_cta:default project_id=152168]</p>


GRAYA greenlit for riverfront St Lucia apartment development, Silk

<p data-end="568" data-start="388">Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.</p>

<p data-end="803" data-start="570">Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.</p>

<p data-end="1041" data-start="805">The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.</p>

<p data-end="1239" data-start="1043"><a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.</p>

<p data-end="1239" data-start="1043">[smartcode_project:default project_id=114246 project_image_fid=378718]</p>

<p data-end="1459" data-start="1241">Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.</p>

<p data-end="1582" data-start="1461">Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.</p>

<p data-end="1777" data-start="1584">"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.</p>

<p data-end="2018" data-start="1779">"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.</p>

<p data-end="2245" data-start="2020">"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."</p>

<p data-end="2245" data-start="2020">[smartcode_project:default project_id=114246 project_image_fid=378713]</p>

<p data-end="2438" data-start="2247">A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.</p>

<p data-end="2577" data-start="2440">Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.</p>

<p data-end="2772" data-start="2579">The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.</p>

<p data-end="2245" data-start="2020">[smartcode_project:default project_id=114246 project_image_fid=378720]</p>

<p data-end="2245" data-start="2020">Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.</p>

<p data-end="2996" data-start="2932">"The penthouse is a serene study in quiet luxury," Freeman said.</p>

<p data-end="3264" data-start="2998">"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."</p>

<p data-end="3384" data-start="3266">Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.</p>

<p data-end="3531" data-start="3386">"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.</p>

<p data-end="3823" data-start="3533">"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."</p>

<p data-end="3823" data-start="3533">[smartcode_project:default project_id=114246 project_image_fid=378694]</p>

<p data-end="3986" data-start="3825">Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.</p>

<p data-end="4199" data-start="3988">Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.</p>

<p data-end="4370" data-start="4201">Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.</p>

<p data-end="4516" data-start="4372">"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.</p>

<p data-end="4717" data-start="4518">"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.</p>

<p data-end="4883" data-start="4719">"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."</p>

<p data-end="4947" data-start="4885">The penthouse will be exclusively marketed by SRM Residential.</p>

<p data-end="4947" data-start="4885">[smartcode_project_cta:default project_id=114246]</p>


Abadeen unveils penthouse at Park Residences in Cremorne

Dwelling Values

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<div>
<p>Fairly in line with market forecasts dwelling prices rose by +2.0 percent in the June 2016 quarter according to the ABS with Sydney (+2.8 percent),  Melbourne (+2.7 percent), and Brisbane (+1.1 percent).</p>
<p>Of the smaller capitals, Canberra also showed a solid increase of +2.2 percent. </p>
<p>The ABS indexes run back to September 2003 with the median house price (+98 percent) and attached dwelling price (+93 percent) having increased since that time. </p>
</div>
<div id="post-body-6073373241639202316">
<div align="justify"> </div>
<div align="justify"><a href="/images/2016/09/23/A5.jpg" target="_blank">Click to enlarge</a></div>
<div align="justify"><img src="/images/2016/09/23/A5.jpg" alt=""></div>
<span style="font-size: xx-small;"><span style="font-size: xx-small;"><span><br></span></span></span>
<div align="justify">This latest move takes the total value of residential dwellings to beyond $6 trillion, an increase of +$1.6 trillion or +36 per cent since June 2012.</div>
<div align="justify"> </div>
<div align="justify"><a href="/images/2016/09/23/A1.jpg" target="_blank">Click to enlarge</a></div>
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<div><span style="font-size: xx-small;"><span style="font-size: xx-small;"><span><span style="color: #7f7f7f;"><img src="/images/2016/09/23/A1.jpg" alt=""></span></span></span></span></div>
<div>
<span style="font-size: xx-small;"><span style="font-size: xx-small;"><span><br></span></span></span>
<div align="justify">The market is now accelerating in the third quarter according to Alan Oster, Chief Economist of National Australia Bank (you see what I did there?).</div>
<div align="justify"> </div>
<div align="justify">Auction clearance rates have again approached record highs again in Sydney, and Oster predicts a substantial +4 percent gain in the harbour city for Q3, as well as +3.5 percent for Melbourne. </div>
<div align="justify"> </div>
<div align="justify">Large capital cities lead</div>
<div align="justify"> </div>
<div align="justify">House prices rose by +3.2 percent in Sydney in the June quarter, with attached dwelling prices showing a much steadier trajectory (both up and down) through the course of this cycle in rising by a further +2.0 percent. </div>
<div align="justify"> </div>
<div align="justify">After six months of house price declines Sydney's all dwellings index hit a fresh all-time high, being +83.7 percent higher than in December 2008.</div>
<div align="justify"> </div>
<div align="justify">Brisbane notched up its sixteenth consecutive quarterly gain with prices rising by +1.1 percent.</div>
<div align="justify"> </div>
<div align="justify">Since Q3 2012 prices in Brisbane have recorded a studious recovery to rise by +18 percent, while Adelaide (+13 percent) and Hobart (+13 percent) have followed a similar, if slightly more subdued, trajectory. </div>
<div align="justify"> </div>
<div align="justify">In the resources capitals prices have declined since the beginning of 2015 (click charts to expand).</div>
<div align="justify"> </div>
<div align="justify"><a href="/images/2016/09/23/A3.jpg" target="_blank">Click to enlarge</a></div>
<span style="font-size: xx-small;"><span style="font-size: xx-small;"><span><br><img src="/images/2016/09/23/A3.jpg" alt=""><br></span></span></span>
<div align="justify"> </div>
<div align="justify"><strong><span style="text-decoration: underline;">State versus state</span></strong></div>
<div align="justify"> </div>
<div align="justify">At the state level over the year to June the mean price has continued to rise in New South Wales (+$35,400), Victoria (+$31,100), Queensland (+$10,100), and South Australia (+$16,800). </div>
<div align="justify"> </div>
<div align="justify">On the other hand the median price in Western Australia has retraced by $37,300 with a notable collapse having taken place up in the Pilbara, and there was also a decline in the Northern Territory mean price of $20,500. </div>
<div align="justify"> </div>
<div align="justify"><a href="/images/2016/09/23/A7.jpg" target="_blank">Click to enlarge</a></div>
<div align="justify"> </div>
<div align="justify"><img src="/images/2016/09/23/A7.jpg" alt=""></div>
<div align="justify">The total value of dwelling stock has increased significantly over the past four years in New South Wales (+$819 billion), Victoria ($+453 billion), and Queensland (+$169 billion).</div>
<div align="justify"> </div>
<div align="justify"><a href="/images/2016/09/23/A2.jpg" target="_blank">Click to enlarge</a></div>
<div align="justify"><img src="/images/2016/09/23/A2.jpg" alt=""></div>
<span style="font-size: xx-small;"><span style="font-size: xx-small;"><span><br></span></span></span>
<div><strong><span style="text-decoration: underline;">Supply response</span></strong></div>
<div align="justify"> </div>
<div align="justify">Finally, the total number of residential dwellings increased by +46,900 in Victoria and +40,600 in New South Wales over the 2016 financial year. </div>
<div align="justify"> </div>
<div align="justify">There are now more than 9.7 million dwellings in Australia.</div>
<div align="justify"> </div>
<div align="justify">Over the past four years Victoria (+7.9 percent) has been far more successful at increasing the total size of its dwelling stock than New South Wales (+4.9 percent). </div>
<div align="justify"> </div>
<div align="justify">From a lower base the uplift has been considerably more pronounced in the Northern Territory (+10.4 percent) and the ACT (+10.4 percent).</div>
<div align="justify"> </div>
<div align="justify"><a href="/images/2016/09/23/A6.jpg" target="_blank">Click to enlarge</a></div>
<div align="justify"><img src="/images/2016/09/23/A6.jpg" alt=""></div>
<span style="font-size: xx-small;"><span style="font-size: xx-small;"><span><br></span></span></span>
<div align="justify"><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div align="justify"> </div>
<div align="justify">Overall, there were solid price gains in Q2 which generally matched market expectations.</div>
<div align="justify"> </div>
<div align="justify">The ABS figures are retrospective, so market participants will be watching the market closely to see whether recent gains are sustained.</div>
<div align="justify"> </div>
<div align="justify">In the 2015 calendar year in part due to cooling macroprudential regulatory measures the Sydney auction market softened considerably in the lead up to Christmas, before limping over the line. </div>
<div align="justify"> </div>
<div align="justify">There are still a dozen weekends to go yet this year. </div>
<div align="justify"> </div>
<div align="justify">
<p><span><em>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>.</em><br></span></p>
<p><em>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>.</em></p>
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pwargent-M4siyDbqQY

Capital city prices rose in Q2: Pete Wargent

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<p>GUEST OBSERVER</p>
<p>The housing market is gradually responding to higher mortgage rates, tighter credit policies and affordability challenges, with the quarterly trend in capital gains moderating relative to early 2017.</p>
<div>
<p>The July 2017 CoreLogic Home Value Index results recorded a 1.5% rise in dwelling values across the combined capital cities for the month.  Most individual capital cities recorded a rise, however, a 3.1% gain in Melbourne was a significant driver for the strong monthly result across the combined capitals.</p>
<p>The latest housing market results highlight the diversity of housing market conditions, with dwelling values down over the month in Brisbane (-0.6%), Perth (-1.3%) and Darwin (-1.2%).</p>
<h3>Index results as at July 31, 2017</h3>
<p>Click to enlarge</p>
<p><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/2017/08/02/2017-08-01--indices.jpg" alt=""></p>
<p>The recent bounce in capital gains may be partially due to a recovery from the seasonal slump in values recorded in April and May. However, other factors, such as stamp duty concessions for first home buyers in New South Wales and Victoria, may also be having a positive impact on market demand.</p>
<p>It’s still too early to measure the effect of first home buyer incentives, which went live on July 1st. However historically, the first time buyer segment has been very responsive to stimulus measures.</p>
<p>Despite the higher month-on-month capital gains in June and July, the quarterly trend rate of growth has clearly reduced.  The rolling quarterly pace of capital gains across the combined capitals has fallen from 3.6% in February earlier this year to reach 2.2% at the end of July. </p>
<p>The slowdown in growth conditions is most evident across the hottest markets, with the quarterly growth trend reducing from 5.0% in Sydney earlier this year to 2.2% at the end of last month.  Melbourne growth conditions have also slowed, though to a lesser extent, with growth easing from a 2017 quarterly peak of 5.5% to 4.2%.</p>
<p>The divergence in growth rates between Sydney and Melbourne is also evident in auction clearance rates.  Sydney’s clearance rate has been below 70% for seven of the past eight weeks, while Melbourne auction clearance rates have consistently held around the mid 70% range. </p>
<p>Melbourne appears to be benefitting from consistently high population growth which is creating strong demand for housing, as well as consistently high jobs growth and more affordable housing options relative to Sydney.</p>
<p>At the other end of the growth spectrum, Perth and Darwin have continued to see dwelling values slip lower over the month, taking the cumulative decline to 10.2% in Perth and 14.5% in Darwin since both markets peaked in 2014.</p>
<p>The ease in the rate of decline has been most visible in Perth, providing a signal that the Western Australian capital may be approaching the bottom of the downturn; listing numbers have been falling across Perth which is a positive sign of improving conditions, and transaction numbers have found a new floor at around 2,500 sales per month.</p>
<p><span class="s1">TIM LAWLESS</span><span class="s2"><em> heads up 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></em></span></p>
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tlawless-5VLUrbAk9s

Housing market is gradually responding to higher mortgage rates

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<p>EXPERT OBSERVER</p>
<p>Almost half of Australia’s SA4 sub-regions have recorded a rise in dwelling values over the past twelve months.</p>
<p>With housing values falling across four of the eight capital cities over the past twelve months, it’s easy to forget there are some housing markets around the country that are actually seeing relatively healthy and sustainable growth conditions.  An analysis of Australia’s 88 SA4 sub-regions shows almost half (42) of them have recorded some level of growth in housing values over the past twelve months.  </p>
<p>Half of these regions have recorded a higher rate of annual capital gain relative to their five year average rate of growth, suggesting some acceleration in market conditions over the past twelve months.  In fact, 31 (35%) of the SA4 sub-regions across Australia have recorded an improvement in their rate of capital gain over the past 12 months relative to their five year average rate of growth.  </p>
<p>Regional areas of the country are much more likely to be showing positive growth conditions, with 57% of all regional areas recording a rise in dwelling values over the past twelve months, while only 39% of the capital city sub-regions recorded a rise in values. </p>
<p><strong>The ‘healthier’ conditions across the regional markets can probably be attributed to a range of factors including:</strong></p>
<ul>
<li>More sustainable growth conditions during the growth phase – most regional areas of Australia have seen relatively sedate housing market conditions compared with the heroic gains across Sydney and Melbourne.  The more sustainable history of price growth has kept a lid on housing affordability and made these markets attractive to migrants, particularly those areas where economic conditions are buoyant. </li>
<li>A ripple of demand has been emanating from the largest capitals towards the satellite cities where housing is generally more affordable and lifestyle factors can be appealing.</li>
<li>Many coastal and lifestyle markets have benefited from a rise in buyer demand, either from those looking for a new residence, second home or investment option.</li>
<li>Many of the hard hit mining regions have now levelled out and are now showing some growth.</li>
</ul>
<p>Some of the capital cities are also showing a broad base to rising values as well. In Brisbane, seven of the nine SA4 sub-regions have seen a rise in values over the past year and in Adelaide three of the four SA4 sub-regions have recorded an annual gain. The opposite is true in markets where growth conditions were previously much stronger; only one of Sydney’s 15 SA4 sub-regions (Central Coast) has recorded an annual rise in dwelling values while in Melbourne only four out of nine SA4 regions have recorded an annual rise.</p>
<p>The sub-region data highlights the diversity across Australia’s housing markets.  While conditions are broadly slowing, especially around Sydney and Melbourne, many areas of the country are benefitting from a history of more sustainable growth rates, improving demand and reasonably strong economic conditions.</p>
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<p><em><span class="s1">Tim Lawless</span><span class="s2"><em> heads up the CoreLogic RP Data research and analytics team<a href="https://blog.corelogic.com.au/author/timlawless/" target="_blank"><br></a></em></span></em></p>
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The regions where dwelling values are still rising: Tim Lawless

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<p>With the national housing market having experienced more than four years of ongoing value rises, affordability in certain areas is deteriorating and sales that were once considered to be at the top end of the market are now becoming more common. </p>
<p>With housing becoming more expensive, there has been a substantial rise in the number of homes selling for, or in excess of, $2 million.</p>
<p>When the current growth phase commenced in June 2012, there had been 4,103 dwelling sales of at least $2 million with these sales spread across 884 suburbs (if they have achieved this for houses and units they have been counted twice).  Over the 12 months to March 2016, there had been 11,648 house and unit sales at a price of at least $2 million with these sales recorded across 1,437 suburbs.</p>
<p><a href="/images/2016/07/26/Chart-1-1-580x198.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/07/26/Chart-1-1-580x198.jpg" alt=""></p>
<p>Looking at the number of sales of at least $2 million, the 11,668 sales were comprised of 10,184 houses and 1,464 units.  Note that the recent dip in sales is likely to be due to the preliminary nature of recent sales data.  Before the financial crisis, the number of sales at or above $2 million peaked at 6,146 sales over the 12 months to February 2008.  They then fell to a low of 3,321 sales in June 2009.  It took until November 2013 for the number of sales of at least $2 million to eclipse their pre-financial crisis level indicating that the premium housing segment was hit particularly hard during the downturn.</p>
<p><a href="/images/2016/07/26/Chart-2-2-580x196.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/07/26/Chart-2-2-580x196.jpg" alt=""></p>
<p>While the previous analysis looked at the number of sales of at least $2 million, the second chart looks at the number of suburbs that had at least one sale over the year at or above this price point.</p>
<p>Over the past year, 1,139 suburbs had a house sale at or above $2 million and 298 suburbs had a unit sale at that price point.  If we compare this to the pre-financial crisis peak there were 1,193 suburbs that had a sale within this price point before the financial crisis with this figure falling as low as 815 suburbs over the year to June 2009. </p>
<p>It took until August 2014 for the number of suburbs with a sale at or above $2 million to eclipse the pre-financial crisis level.  With 1,437 suburbs nationally having at least one sale of at least $2 million over the past year it further highlights that housing is becoming less affordable in more suburbs.</p>
<p><a href="/images/2016/07/26/Chart-3-2-580x197.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/07/26/Chart-3-2-580x197.jpg" alt=""></p>
<p>It is particularly evident of the deteriorating affordability of housing when you look at the number of suburbs with a sale price at or in excess of $2 million over time in NSW and Vic.  As the above chart shows, particularly in NSW and to a lesser extent in Vic, there has been a significant increase in the number of suburbs with sales of at least $2 million over recent years.  This is reflective of housing prices being pushed higher, particularly in Sydney and Melbourne, as home values rise and competition for well-located housing increases.</p>
<p>As home values continue to rise, there will continue to be some bracket creep, with the number of homes selling at $2 million or higher likely to rise further.  We would anticipate an increasing number of sales at or above $2 million over the coming years, particularly in Sydney and Melbourne.  Of course the rising prevalence of sales at this price point is systemic of the deteriorating housing affordability and increasing cost of purchasing a home.</p>
<p> <em>Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.</em></p>
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ckusher-ujnxiKuFQs

The $2 million dollar dwelling sales surge: Cameron Kusher

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<p>Four times per year we get the unbridled pleasure of the official residential property price indexes.</p>
<div>Here, then, is a 60-second overview of the June 2017 quarter figures. </div>
<div> </div>
<div>The total value of Australia's dwelling stock rose by +$631 billion or +10.4 per cent to $6.72 trillion in the 2017 financial year. </div>
<div> </div>
<div>That now represents a +53 per cent increase in dwelling stock value from the $4.4 trillion recorded at the end of 2011. </div>
<div> </div>
<div>I'd take the data series back further, but since it only begins in Q3 of that calendar year, I can't.</div>
<p><a href="https://www.propertyobserver.com.au/images/2017/09/21/A1.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><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/2017/09/21/A1.jpg" alt=""></div>
<div> </div>
<div>The annual stock value gains were mainly driven by the two most populous states. New South Wales (+$336 billion) and Victoria (+$215 billion) accounted for some 87 per cent of the total increase. </div>
<div> </div>
<div><a href="https://www.propertyobserver.com.au/images/2017/09/21/Aus%20Dwelling%20Stock.jpg" target="_blank">Click to enlarge</a></div>
<div>
<br><div class="separator"><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/2017/09/21/Aus%20Dwelling%20Stock.jpg" alt=""></div>
</div>
<div class="separator"> </div>
<div>Detached houses have outperformed attached dwellings on average since 2003, reflecting rising land values and a relative scarcity of this dwelling type in the thriving, landlocked suburbs of Sydney and Melbourne.</div>
<p><a href="https://www.propertyobserver.com.au/images/2017/09/21/A3.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><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/2017/09/21/A3.jpg" alt=""></div>
<div class="separator"> </div>
<div>Over the June 2017 quarter the attached dwellings index performed strongly, however, helped along by the +11.7 per cent year-on-year gain for attached dwellings in Sydney (with the harbour city retaining a healthy weighting for that dwelling type). </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">City by city</span></strong></div>
<div> </div>
<div>There were strong quarterly residential price index gains in June 2017 for Sydney (+2.3 per cent) and Melbourne (+3 per cent), with those two capital cities recording a twin +13.8 per cent annual increase. </div>
<div> </div>
<div>The Reserve Bank of Australia noted in its September Board Minutes released today that Sydney market conditions had eased in recent months, as reflected in softer auction clearance results and various other timelier measures. </div>
<div> </div>
<div>Annual price growth in Hobart notched up a pacy +12.4 per cent - with more to come later in the year - while there was steadier price growth in Canberra, Adelaide, and Brisbane. </div>
<div> </div>
<div>Perth and Darwin recorded further declines, but the pace of decline has slowed, and more timely measures suggest that conditions appear to be levelling out somewhat in these resources capitals. </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/09/21/Resi%20Price.jpg" target="_blank">Click to enlarge</a></p>
<p><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/2017/09/21/Resi%20Price.jpg" alt=""></p>
<p> </p>
<div>The mean dwelling price in Australia increased by $51,700 or +8.2 per cent in FY2017, to hit a record high of $679,100.</div>
<div> </div>
<div>In New South Wales, the mean dwelling price rose to $903,700, possibly helped along by the sale of Sydney's most expensive house in the second quarter of the calendar year (the 'Elaine' estate in Point Piper, which transacted for a lazy $75 million or so - punchy). </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/09/21/A4.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><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/2017/09/21/A4.jpg" alt=""></div>
<div class="separator"> </div>
<div>Finally, the number of dwellings increased by +2 per cent or +190,500 over the financial year to 9,906,100.<br><br>That's now well ahead of the rate of the official population growth, as the supply response hits its straps. </div>
<div> </div>
<div>There was a substantial increase of +2.35 per cent in Queensland's dwelling stock in FY2017, or +45,500 additional dwellings, reflecting the high volume of apartment completions in inner city Brisbane and elsewhere. The state population probably gr<span>ew by <span>~</span>75,000 over th</span>e same period. </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/09/21/A5.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><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/2017/09/21/A5.jpg" alt=""></div>
<p> </p>
<div>In absolute terms there was a robust uplift in the total dwelling stock of New South Wales (+50,900) and Victoria (+53,500), although in Victoria's case even this record rate of new dwelling construction is not keeping up with rollicking population growth.</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div> </div>
<div>As always, the interesting stuff is in the detail, but the overview shows that Melbourne's housing market was still powering along in the second quarter of 2017, while Hobart will glide into top gear in the latter half of the calendar year. </div>
<div> </div>
<div>
<p class="p1"><span class="s1">PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank"><span class="s2">AllenWargent</span></a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank"><span class="s2">blogger</span></a>.</span></p>
<p class="p2"><span class="s3"><em>His latest book is </em><a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank"><span class="s2"><em>Four Green Houses and a Red Hotel</em></span></a><em>.</em></span></p>
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Australia's mean dwelling price rises 8 percent to $679,100

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<p>GUEST OBSERVER</p>
<p>Those who find Sydney a tad rich don’t have to go too far to find major markets with greater affordability and good growth prospects.</p>
<p>Newcastle has a rising economy, a strong property market and appears to be settling into a sustained period of growth.</p>
<p>The city, about 160km north of Sydney, presents an appealing formula for property investors: relatively affordable prices, an overall solid growth record and major impetus from economic activity in and around the city.</p>
<p>It has delivered steady price rises over the past three years and in the past 12 months several Newcastle suburbs have recorded double-digit median price growth. There’s more to come, I think.</p>
<p>Key projects keeping the Newcastle economy strong include the CBD revitalisation, residential construction, upgrades to transport infrastructure and expansion of the Newcastle port.</p>
<p>Newcastle is already the world’s biggest coal export port and major upgrades to export facilities occur regularly. A $1 billion upgrade to the Newcastle Airport and RAAF Base is also under way.</p>
<p class="BodyCopy">The airport – where the runway is shared with the RAAF Base Williamtown – is already a major employer, with around 3,000 military and civilian personnel working at the base.</p>
<p class="BodyCopy">Newcastle is Australia’s seventh largest city and one of its oldest. It has a busy harbour, many beaches and plenty of elegant historic buildings. Despite its reputation as an industrial city, Newcastle is ranked the sixth most visited place in Australia, attracting 9.6 million visitors per year.</p>
<p class="BodyCopy">It thrives as part of the Hunter Region, which is the largest economic base in NSW outside of Sydney. The Hunter region is also well known for its primary industries, notably equine breeding and winemaking. It’s also a key area for mining and power generation.</p>
<p class="BodyCopy">But in recent years, much of Newcastle’s employment growth has been experienced within the services sector, especially in health and the tertiary education sector.</p>
<p class="BodyCopy">Generally, Hotspotting regards Newcastle as one of Australia’s most under-rated markets. It has strong prospects as an affordable alternative to Sydney, offering an attractive beach lifestyle, proximity to the Hunter Valley and to Port Stephens, plus solid job prospects in a growing economy.</p>
<p class="BodyCopy">The impetus of the State Government’s Urban Renewal Strategy for Newcastle has become clearly evident; building activity has been rising for the past 3-4 years – especially with unit construction – as the city strives towards higher-density living to cater for population growth.</p>
<p class="BodyCopy">Over 100,000 new dwellings will be needed in the Lower Hunter region by 2031, according to the NSW State Government.</p>
<p class="BodyCopy">The affordability of Newcastle relative to Sydney is shown in the median house prices in the Mayfield suburbs ($445,000 to $484,000), Shortland ($380,000), Wallsend ($415,000) and Waratah ($500,000), as well as the median unit prices in New Lambton and Waratah (both $380,000), and Adamstown ($405,000).</p>
<p class="BodyCopy">There are good prospects for real estate in Newcastle, based on extensive spending on infrastructure and property developments.</p>
<p class="BodyCopy">Newcastle has recently been the beneficiary of investment activity, largely stimulated by the $6.55 billion State Government investment mandate covering projects such as the new light rail system on Hunter Street, the transport interchange at Wickham and construction of the Newcastle City University Campus.</p>
<p class="BodyCopy">A June 2016 map of Newcastle building activity showed 28 residential projects with a combined value of $1.6 billion in the construction pipeline, with more proposals in planning. Around 3,000 apartments will be added to the city’s housing stock as a result, including 1,200 in the west end.</p>
<p class="BodyCopy">Work on revitalising the CBD began in December 2014, with the $73 million transport interchange at Wickham expected to open late in 2017. The interchange will integrate trains, buses, taxis, light rail, cyclists and car drop-off and pick-ups, alongside a light rail service from Wickham to the beach.</p>
<p class="BodyCopy">The Hunter Street Mall is also receiving a serious makeover, transforming the CBD into 50 percent residential and 50 percent commercial/retail. Included in the plans are an “eat street”, an entertainment precinct and around 500 apartments.</p>
<p class="BodyCopy">The State Government plans to move sections of Newcastle University into the CBD to help revitalise the inner-city.</p>
<p class="BodyCopy">Key projections for the university over the coming decade include increasing its student numbers to 40,000, making it one of the top three regional universities in Australia.</p>
<p class="BodyCopy">Construction has started on the $95 million NewSpace campus, with the NSW Government contributing $25 million towards the cost. By 2020, the university expects to have moved its business, law and creative arts faculties entirely to the CBD.</p>
<p class="BodyCopy">All this activity is helping to keep the Newcastle economy vibrant, providing a strong underpinning to a growth property market.</p>
<p class="BodyCopy"><span>T</span><em>erry Ryder is the founder of </em><a href="https://www.hotspotting.com.au/"><span class="s2"><em>hotspotting.com.au</em></span></a><em>. You can  </em><a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3Cspan%20style=/'display:%20none;/'%3E');%20//--%3E%20%3C/script%3EThis%20email%20address%20is%20being%20protected%20from%20spambots.%20You%20need%20JavaScript%20enabled%20to%20view%20it.%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20document.write('%3C/');%20document.write('span%3E');%20//--%3E%20%3C/script%3E"><span class="s2"><em>email him</em></span></a><em> or follow him on </em><a href="https://twitter.com/hotspotting"><span class="s2"><em>Twitter.</em></span></a></p>
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terryryder-YECXbqmri2

Housing affordability and price growth prospects in Newcastle

<html><body><p>Across Brisbane, dwelling values have risen 0.9% from the onset of the pandemic in March through to November, with dwelling values now at a record high, according to the latest CoreLogic data.

Despite the recent uplift in the dwelling market across Brisbane, unit values remain 8.9% lower over the decade.

Most Queensland dwelling markets are in upswing. Grouping Queensland into 19 sub-markets, 17 have seen dwelling value increases since the onset of COVID-19. The Brisbane Inner City and Brisbane West markets were the only dwelling markets to see a fall in values during the period.

The Melbourne rental market has been particularly impacted by the pandemic. This may also end up impacting property values, and CoreLogic data suggests larger dwelling value declines are correlated with declines in rent values.
"Nationally, housing market values did not see the large decline anticipated at the start of the COVID-19 pandemic. Housing values fell just 1.9% between March and September before moving into a recovery trend, increasing 0.4% nationally through October and 0.8% in November," Eliza Owen, CoreLogic’s Head of Research Australia said.

"Relative to previous housing market downturns, the current decline through to November seems relatively mild, with dwelling values just 0.7% below the pre-COVID levels. There are numerous factors which have contributed to the prevention of a larger downturn in dwelling values including the institutional, coordinated response to the pandemic, which have seen low borrowing costs, added incentives for first home buyers and the extension of mortgage repayment deferrals limiting forced sales."

"Despite an initial slump in housing finance through the beginning of the year due to the COVID-19 pandemic, the year to October saw a remarkable 14.5% lift in the volume of finance secured for the purchase of property, according to ABS lending indicators."

"The post-COVID mortgage lending boost was driven by owner-occupiers including changeover buyers such as upsizers and downsizers, as well as buyers getting into the property market for the first time."

"Money lent to first home buyers saw the fastest growth rate at 35.1% in the year to October, accounting for 22.1% of lending, up from 18.8% in the year prior. Meanwhile, investor mortgage lending increased less than 1% in the same period. There are several factors that contributed to this growth in first home buyer activity, including generational trends, monetary and fiscal incentives and lower dwelling values and competition," she concluded.</p></body></html>

Across Brisbane, dwelling values have risen 0.9% from the onset of the pandemic in March through to November, with dwelling values now at a record high, according to the latest CoreLogic data.

urban.com.au

Brisbane property market on the upswing, barring the inner-city and West

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<p>The HomeBuilder scheme announced in early June is intended to boost activity in the construction sector.</p>
<p>Dwelling construction is expected to see a lagged decline in activity off the back of COVID-19, as the recently recovering trend in dwelling approvals began to slip in April, led by a decline in unit approvals.</p>
<p>However, the $25,000 incentive for building a new home, or renovating an established one, comes with a set of extensive eligibility criteria.</p>
<p>Part of the eligibility for the renovation component of the scheme is that properties must be owner-occupied, and not exceed more than $1.5 million in value.</p>
<p><strong>So where are the most owner-occupied properties under $1.5 million? </strong></p>
<p>Using CoreLogic’s extensive property database, we have put together a count of properties by region. The count of properties are those that we estimate are owner-occupied, and have a high confidence valuation of less than $1.5 million.</p>
<p>The top and bottom 10 regions by number of these properties is listed below.</p>
<p><img src="https://www.urban.com.au/images/2020/6/9/PP%20CL%20JUNE%2011.JPG" alt=""></p>
<p>The list also includes the median dwelling value for all properties across the region of measurement (not just the owner-occupied properties valued below 1.5 million), and a rough estimate of the portion of all family households that are below the $200,000 income limit for the HomeBuilder scheme.</p>
<p>These additional data points are not factored into the count of properties generated, but provide some context around typical market values and household income.</p>
<p><strong>What to make of the data</strong></p>
<p>The data suggests that the highest number of owner-occupied properties is located in the Melbourne - South East region, which spans from Mount Waverly out to Bunyip. In fact, there are four Melbourne regions that have over 100,000 owner-occupied properties estimated to be valued under $1.5 million.</p>
<p>These regions represent the fringe of the metropolitan area, and include some relatively low income areas compared to the inner-city regions of Melbourne.</p>
<p>The Perth - North West region has the second highest volume of properties. The Perth - North West region spans from part of Glendalough, up to the Yeal Nature Reserve in the north. The ‘Bottom 10’ list of regions reflects one of two characteristics.</p>
<p>For Sydney’s Northern Beaches and Eastern Suburbs, many properties surpass the $1.5 million property value cap to qualify for a renovation grant. For parts of outback and regional Australia, there is just a low population of dwellings.</p>
<p>Even where dwellings fall well below the $1.5 million threshold for a renovation grant, many of these owner occupiers will not take up the homebuilder incentive for renovations.</p>
<p>In fact, CoreLogic estimates there are about 4.4 million owner-occupied properties across Australia with a high confidence valuation below $1.5 million, but the federal government estimates the scheme may only support about 7,000 renovations.</p>
<p>While part of this is the income cap put on the scheme, it is also due to the high value of renovations that is set in the eligibility criteria. The renovations qualifying for the HomeBuilder Scheme must be worth between $150,000 and $750,000.</p>
<p>For areas where dwelling prices and incomes are relatively low, this may lead to owners over-capitalising on renovations, where they cannot recoup the cost of upgrades to the property.</p>
<p><strong>ELIZA OWEN</strong> <em>is CoreLogic's <a href="https://www.corelogic.com.au/news/early-market-indicators-show-first-signs-housing-market-slowdown?utm_medium=email&amp;utm_source=newsletter&amp;utm_campaign=20200420_propertypulse" target="_blank">head of research</a></em></p>
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pchatterjee-seVgoiQgz5

HomeBuilder, where are the most owneroccupied dwellings below $1.5 million? CoreLogic's Eliza Owen

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<p><span>EXPERT OBSERVER</span></p>
<p><span>National dwelling values are currently -8.2% lower than their peak, the largest decline in values any time over the past 30 years. </span></p>
<p><span>Throughout the period from May 1989 to May 2019, national dwelling values have been at an historic high for 56.8% of that time.</span></p>
<p>There is a significant difference in the figures throughout the capital cities and rest of state regions.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%201.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><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/2019/6/20/corelogic%201.jpg" alt=""></p>
<p>Source: CoreLogic</p>
<p>In fact, the national figures are at historic highs for a greater share of time than any of the individual regions have been.</p>
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<p><span>As at May 2019, dwelling values across the combined capital cities have fallen by -10.1% from their September 2017 peak. The -10.1% fall is the deepest correction throughout any period since May 1989. Since May 1989, the combined capital city index has been at an historic high for 51.0% of the months.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%202.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><span><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/2019/6/20/corelogic%202.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
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<p><span>The combined regional market index has seen a more </span>moderate decline than the capital cities with values currently -3.0% lower than their peak. Over the 30 years since May 1989, the combined regional market index has been recorded at a peak for just over half of the months (51.2%).</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%203.jpg" target="_blank">Click here </a>to enlarge: </p>
<p><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/2019/6/20/corelogic%203.jpg" alt=""></p>
<p>Source: CoreLogic</p>
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<p><span>Between May 1989 and May 2019, Sydney dwelling values have sat at historic highs for 44.9% of the time. The current downturn in Sydney is the deepest of any over that period with values currently -14.9% lower than their peak. The current downturn is plotting unchartered territory with prior downturns generally shorter and not particularly deep.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%20sydney%20.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><span><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/2019/6/20/corelogic%20sydney%20.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
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<p><span>Regional NSW dwelling values, as at May 2019, were -4.9% </span>lower than their peak. The last time they were further away from their peak was January 2013. Over the 30 years from May 1989, regional NSW dwelling values have been recorded at historic highs for only 38.2% of the time. As the chart shows, there have been fairly regular periods in which values have fallen across the region.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%20regional%20nsw.jpg" target="_blank">Click here </a>to enlarge: </p>
<p><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/2019/6/20/corelogic%20regional%20nsw.jpg" alt=""></p>
<p>Source: CoreLogic</p>
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<p><span>Melbourne dwelling values are currently -11.1% lower than their previous peak which is their deepest correction any time since 1980. While the city has seen a number of corrections since May 1989, they have generally been shallow with a quick recovery, the exception was the 1989 downturn where dwelling </span>values didn’t recover until 1997. Over the past 30 years, values have been at an historic high for 44.9% of the time.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%20mel%20.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><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/2019/6/20/corelogic%20mel%20.jpg" alt=""></p>
<p>Source: CoreLogic</p>
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<p><span>Over the past 30 years, dwelling values in regional Vic have been at historic highs for 47.4% of the time. Dwelling values are currently -1.1% lower than their previous peak with the falls occurring over recent months. Interestingly, values have been at historic highs over the past 30 years more regularly than those in Melbourne.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%20regional%20vic.jpg" target="_blank">Click here </a>to enlarge: </p>
<p><span><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/2019/6/20/corelogic%20regional%20vic.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
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<p><span>Brisbane dwelling values are currently -2.4% lower than their April 2019 peak. The correction to-date is fairly moderate compared to the other downturns experienced over the past 30 years. </span>Over the 30 year period, dwelling values have been recorded at their peak for 49.3% of months.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%20brisbane.jpg" target="_blank">Click here</a> to enlarge: </p>
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<p> </p>
<p> </p>
<p><span><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/2019/6/20/corelogic%20brisbane.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
<p><span>Dwelling values in regional Qld have spent only 40.4% of their time at historic highs over the past 30 years. Although values have been at their peak fairly rarely, it is largely due to two corrections between 1994 and 1999 and the current correction which has been ongoing since 2008. Although values recorded a peak to trough fall of -12.6% by October 2012, values are yet to return to their 2008 peak and remain -5.3% lower as at May 2019.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%20regional%20qld%20.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><span><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/2019/6/20/corelogic%20regional%20qld%20.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
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<p><span>Adelaide dwelling values have begun falling over recent months and as at May 2019 they were slightly below their previous peak(-0.5%). Over the past 25years,dwelling values in Adelaide have been at historic highs for 53.8% of the time. Adelaide has seen some downturns over the past 25 years however, they have typically been fairly shallow and not taken particularly long to recover.</span></p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%20adelaide.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><span><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/2019/6/20/corelogic%20adelaide.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
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<p><span>In regional SA dwelling value have been below their previous peak since April 2015 and are currently -3.0% lower. The regional SA market has seen lots of short periods of value falls over the past 25 years resulting in values being at historic highs for just 32.2% of the time.</span></p>
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<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/corelogic%20regional%20sa.jpg" target="_blank">Click here</a> to enlarge: </p>
<p><span><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/2019/6/20/corelogic%20regional%20sa.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
<p><span>Over the past 30 years, dwelling values have been at their peak for 38.5% of the time. The current decline is the deepest </span>of any over the past 30 years, -19.2% lower. There have been a number of corrections over this timeframe however, they have mostly been quite small. The current downturn is showing no signs of ending as yet and has been ongoing since the middle of 2014.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/CORELOGIC%20PERTH%20.jpg" target="_blank">Click here </a>to enlarge: </p>
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<p><span><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/2019/6/20/CORELOGIC%20PERTH%20.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
<p><span>The current housing downturn in regional WA has seen values </span>fall by -32.5% from their peak in January 2008 (more than a decade ago). There is no evidence as yet that the declines are ending. As a result of the ongoing declining values, regional WA values have only been at historic highs for 32.1% of the time over the past three decades.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/CORELOGIC%20REGIONAL%20WA.jpg" target="_blank">Click here</a> to enlarge: </p>
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<p><span><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/2019/6/20/CORELOGIC%20REGIONAL%20WA.jpg" alt=""></span></p>
<p> </p>
<p>Source: CoreLogic</p>
<p><span>Following strong growth in values over recent years, Hobart </span>dwelling values have fallen by a cumulative -1.3% over the past two months. Throughout the past 30 years, Hobart dwelling values have been at an historic high for just 37.7% of the time. There have been many small downturns over the period and two quite large ones which ran for a number of years despite peak to trough falls during these downturns being less than 10%.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/CORELOGIC%20HOBART%20.jpg" target="_blank">Click here</a> to enlarge: </p>
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<p><span><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/2019/6/20/CORELOGIC%20HOBART%20.jpg" alt=""></span></p>
<p>Source: CoreLogic</p>
<p><span>Regional Tas is the only major region of the country in which </span>values are currently at their historic high. Until the past few years there had been an ongoing deep correction in values occurring. Over the past three decades, values have been at historic highs 35.7% of the time.</p>
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<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/CORELOGIC%20REGIONAL%20TAS%20.jpg" target="_blank">Click here </a>to enlarge: </p>
<p><span><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/2019/6/20/CORELOGIC%20REGIONAL%20TAS%20.jpg" alt=""></span></p>
<p>Source: CoreLogic</p>
<p><span>Darwin dwelling values last peaked in 2014 and they are </span>currently 29.5% lower than this peak. This is the largest and deepest correction seen in Darwin although there isn’t a  particularly long data history. Over the past 18 years, values have been at record highs for just 25.3% of the time.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/CORELOGIC%20DARWIN.jpg" target="_blank">Click here </a>to enlarge: </p>
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<p><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/2019/6/20/CORELOGIC%20DARWIN.jpg" alt=""></p>
<p>Source: CoreLogic</p>
<p>Values in regional NT are volatile due to few properties, as a result values have been at a peak just 28.6% of the time over the past 18 years. Regional NT values last peaked in 2010 and they are currently -8.1% lower.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/CORELOGIC%20REGIONAL%20NT.jpg" target="_blank">Click here </a>to enlarge: </p>
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<p><span><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/2019/6/20/CORELOGIC%20REGIONAL%20NT.jpg" alt=""></span></p>
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<p>Source: CoreLogic</p>
<p><span>Dwelling values in Canberra are currently slightly lower than their peak after a decline of -0.2% in May 2019. Over the past </span>25 years, dwelling values in Canberra have been at historic highs 38.2% of the time. Over the period there have been four major downturns with the 1994 downturn running until 1999 and the 2010 downturn running until 2015. The other two downturns were reasonably short and sharp.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/6/20/CORELOGIC%20CANBERRA.jpg" target="_blank">Click here </a>to enlarge: </p>
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<p>Source: CoreLogic</p>
<p><span>The results may well be viewed as somewhat surprising.<br></span></p>
<p><span>In that, there is a sense that property values seem to be rising more often than not yet across the individual regions the majority have seen values below their previous peak more often than not.</span></p>
<p><span>When downturns have occurred they are often small and</span><span>values return to previous peaks fairly quickly. The current downturn for a number of regions is unprecedented in terms of the magnitude and length of declines. Given this it could be a number of years after values begin to recover until they return</span><span>to their previous highs.</span></p>
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<p><em><span>CAMERON KUSHER </span> is the head of research for the Australian branch of CoreLogic</em></p>
<p><em>Kusher regularly posts on the <a href="https://www.corelogic.com.au/news" target="_blank">CoreLogic website</a>.</em></p>
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How often have values been at their peak? Cameron Kusher

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<p>EXPERT OBSERVER</p>
<p>Dwelling value drops of -7.2% over the year to April 2019 highlights just how easy it can be to forget the diversity across property market performance as some regions continue to deliver solid growth conditions while others drag averages lower.</p>
<p>Over the 12 months to April 2019, Adelaide, Hobart and Canberra were the only capital cities in which dwelling values haven’t fallen. Although value declines have been prevalent, there are certain SA2 regions which have significantly outperformed the broad capital city and equally many regions have significantly underperformed.</p>
<p><strong> Sydney:</strong> With dwelling values having fallen by -10.9% over the year to April 2019, only two SA2 regions, both of which are located in the Blue Mountains, have recorded annual growth. A further region of the Blue Mountains has recorded one of the most moderate declines along with two regions on the Northern Beaches. In terms of the Sydney regions with the greatest value declines, SA2 regions in the Inner South West are prevalent on the list.</p>
<p><strong>Melbourne:</strong> Over the 12 months to April 2019, dwelling values have reduced by 10.0%. Only two SA2 regions have recorded a rise in values and the five regions with the strongest annual change were located close to the city centre, demonstrating some strength in the established unit market. On the other hand, the five regions that have recorded the greatest annual fall were all located in Melbourne’s Inner East.</p>
<p><strong> Brisbane:</strong> Dwelling values are down marginally over the past year, having fallen by -1.9%. The top five SA2 regions with the strongest value growth over the past year are all located in the west of the city and are either within or towards Ipswich. The regions with the largest value falls are much more varied with some emphasis around areas with a mix of residential and industrial land uses featuring on the list.</p>
<p><strong>Adelaide:</strong> Over the past year, dwelling values have continued to rise (marginally) up 0.3% over the year. The strongest performing regions are all located either within the Central and Hills region or the North region of the city. The regions with the largest annual value falls are more mixed, with two situated in the Central and Hills region, two in the North and one in the South.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/5/9/May%209%20Property%20Pulse%202.JPG" target="_blank">Click</a> to enlarge.</p>
<p><img src="https://www.urban.com.au/images/2019/5/9/May%209%20Property%20Pulse%202.JPG" alt=""></p>
<p><strong>Perth:</strong> Dwelling values have been falling since mid 2014 and have declined by a further -8.3% over the 12 months to April 2019. Given this it is no surprise only one SA2 region of the city has recorded an increase in values over the year. The regions with the most moderate declines were all located in either the North West or North East of the city. Conversely, the 5 regions with the largest value falls over the past year were all in either Perth’s South West or Mandurah highlighting a fairly distinct area in which the largest falls are occurring.</p>
<p><strong>Hobart:</strong> Values have increased by 3.8% over the past year which is the largest annual increase of all capital cities. The areas with the strongest value growth over the year are quite diverse both geographically and based on the value of dwellings however, 3 are situated in the North East. The list includes some of the most affordable and most expensive regions of the city. Four of the five regions with the most moderate value change over the year are located in the city centre and are some of the most expensive regions of the city.</p>
<p><strong>Darwin:</strong> Dwelling values have been falling since mid2015 and have declined by a further -7.1% over the past year. With such weak conditions only one region of the city (Wagaman) recorded an increase in values. The regions with the most moderate value declines were typically amongst the more expensive areas of the city. Conversely, the areas in which value falls were greatest were generally located close to the city centre however, highlighting the ongoing weakness across the inner city apartment sector.</p>
<p><strong>Canberra: </strong>Over the 12 months to April 2019, dwelling values in Canberra have risen by 2.5%. Four of the five regions with the greatest value increase over the past year were located in the northern area of the city around Belconnen and Gungahlin. Meanwhile three of the five weakest markets over the year were also in the north of the city while some of the weakest performers were amongst the most affordable regions of the city. With dwelling values falling broadly across the capital cities, there are still some precincts where values are continuing to trend higher, although the list of positive growth areas has shrunk over the past year.</p>
<p><a href="https://www.propertyobserver.com.au/images/2019/5/9/May%209%20Property%20Pulse.JPG" target="_blank">Click</a> to enlarge.</p>
<p><img src="https://www.urban.com.au/images/2019/5/9/May%209%20Property%20Pulse.JPG" alt=""></p>
<p>Looking to the data there is some suggestion that in individual cities certain geographic areas and value points are more likely to still be seeing values increase than others.</p>
<p><em><span>CAMERON KUSHER</span> is the head of research for the Australian branch of CoreLogic</em></p>
<p><em>Kusher regularly posts on the <a href="https://www.corelogic.com.au/taxonomy/corelogic-people/cameron-kusher" target="_blank">CoreLogic website</a>.</em></p>
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