Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Hobart

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The weekend Hobart auction at Battery Point saw a $680,000 sale.
Located in the much sort after Arthur Circus precinct, the piece of Tasmanian maritime history was a quaint 1850s whalers’ cottage on offer through Brian Watchorn at Charlotte Peterswald Real Estate.
The local paper reported Geoff and Marian Brookes of Brisbane purchased the Georgian-style home on Runnymede Street. He is a Weipa mining project manager. They are now on the lookout for a Tasmanian vineyard to buy.
The auctioneer Brian Watchorn took a $600,000 opening bid for the two-bedroom, one-bathroom home with 84 sqm space.
The Runnymede Street property had last traded at $460,000 in 2008 and put up for rent at $340 a week.
It was one of eight auctions, according to CoreLogic RP Data.
The first week of February had national auction market activity continuing to bounce back from the festive period slowdown, with almost twice the number of auctions held this week compared with last week.
CoreLogic RP Data was tracking 854 auctions this week, compared with 987 auctions over the same week one year ago.
 
<a href="/images/2016/02/08/Screen%20Shot%202016-02-08%20at%208.42.21%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/08/Screen%20Shot%202016-02-08%20at%208.42.21%20AM.png" alt="">
The lower number of auctions was mostly due to a low auction numbers in Sydney where there were only 255 auctions held over the week compared with 421 at the same time last year. Sydney notched up a 70 percent plus success rate.
The lower number of homes put up for auction highlights that vendors haven’t been as willing to put their homes into the auction market as they were a year ago.
Auction numbers were actually higher than a year ago across Melbourne, Brisbane, Adelaide and Perth. Despite the lower number of auctions compared with last year, the preliminary auction clearance rate, based on the 621 auction results reported so far, was recorded at 71 per cent across the combined capital cities.
This week’s clearance rate was higher than at the same time last year (67.3%) however the clearance rate in Sydney continued to track lower than at the same time last year.
This week, 262 Melbourne auctions were held and so far 206 results have been reported.
The preliminary auction clearance rate of 80.1 per cent is higher than last week, when across just 151 auctions, 69.9 per cent were successful. One year ago, Melbourne’s auction clearance rate was 60.7 per cent across 255 auctions. Across Melbourne, the busiest region for auctions this week was the Outer East, where 40 homes went under the hammer. Of the 30 reported results so far, 83.3 per cent have been successful. Melbourne’s Inner East recorded the strongest preliminary clearance rate at 93.8 per cent, however there were only 19 auctions held within the region and 16 results reported so far. 
The Sydney auction market was substantially weaker over the final months of last year when compared to earlier in 2015. Clearance rates fell from the high 80 per cent mark to the mid-50 per cent mark towards the end of the year. Given this, it is likely that a lack of vendor confidence is currently being reflected with only 265 auctions held this week, compared to 421 at the same time last year. Although auction volumes across the city were low, this week Sydney’s preliminary clearance rate was 70.2 per cent, a strong result compared to 44.9 per cent last week (across just 61 auctions), but not reflective of the 80.6 per cent last year. The best performing Sydney sub-regions this week were Inner South West (85.7 per cent across 21 results) and North Sydney and Hornsby, with a clearance rate of 80 per cent across 35 results. In Brisbane the preliminary clearance rate was 55.8 per cent this week across 77 auction results.
There were 111 auctions held in Brisbane this week, compared to 60 last week, with a clearance rate of 52.7 per cent and 109 last year when 47.6 per cent of auctions were successful. Further south, across the Gold Coast there were 33 auctions reported this week with 13 sales.
Adelaide’s preliminary clearance rate was 79.4 per cent this week, higher than last week at 61.1 per cent and also higher than one year ago (58.2 per cent). There were 104 Adelaide auctions this week, 97 last week and 94 held over the comparable week last year.
In the westernmost city, Perth’s preliminary clearance rate was 35 per cent this week and there were 37 auctions held. Last week, 29 Perth auctions were held and 44.9 per cent were successful, while one year ago 31 Perth auctions were held with a clearance rate of 40 per cent.
Across Canberra 67 auctions were held this week, compared to 27 last week and 69 one year ago. Based on preliminary results this week’s clearance rate is 72.9 per cent, higher relative to last year (67.9 per cent).
CoreLogic RP Data has recorded just 2 auction results across Tasmania this week with one sale.
 
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jchancellor-FAypfDUnLy

Battery Point, Hobart whalers' cottage fetches $680,000

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Residential vacancies nationwide rose during December with a final vacancy rate of 2.7% recorded, according to SQM Research, who put the increase down to seasonal trends.
SQM research recorded 81,401 rental vacancies in December, according to managing director Louis Christopher, who said the demand for rentals is still on the rise.
"The national rise is attributed to a combination of factors, including issues with supply and demand, the ongoing impact of the commodities downturn, and seasonal holiday trends," he said.
"December for example, normally does record a sharp rise in vacancies.
<a href="/images/2016/01/18/Screen%20Shot%202016-01-18%20at%2012.05.36%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/18/Screen%20Shot%202016-01-18%20at%2012.05.36%20PM.png" alt="">
"Notably, Darwin has recorded a fall in asking rents of 12.3% for houses and 11.2% for units over the past 12 months, according to SQM Research. Yearly falls have also been recorded in Perth, with asking rents down 9.6% for houses and 9.7% for units."
Mr Christopher said Hobart has recorded the fastest rental rises for the capital cities with asking rents rising 6.9% for houses, while units underperformed, falling by 1.6%. Hobart also has the most affordable rental accommodation with rents for houses at just $340 a week, while units on average rent for $270 a week.
<a href="/images/2016/01/18/Screen%20Shot%202016-01-18%20at%2012.04.37%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/18/Screen%20Shot%202016-01-18%20at%2012.04.37%20PM.png" alt="">
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mick.cee-iDmgDDAmu8

December capital city house asking rents rise 6.9% in Hobart: SQM Research

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Hobart’s weak housing fundamentals sees it having the highest proportion of loss-making re-sales of all capital cities (12.3%) over the March 2015 quarter.
However the CoreLogic RP Data pain gain report noted the proportion was falling, to be lower than the previous quarter (14.6%) and also the previous year (14.3%). 
Sorrell (17.5%), Derwent Valley (15.8%) and Brighton (15.0%) council areas had the highest proportion of loss-making resales over the March quarter.
 The proportion of loss-making resales was lowest in Hobart (10.4%), Glenorchy (10.9%) and Kingborough (12.1%) council areas. 
<a href="/images/2015/06/25/hobart_pain.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/06/25/hobart_pain.jpg" alt="">
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Hobart the poorest performing capital city for property profit

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Sydney and Melbourne's performance continued to propel the national housing market in January, according to the latest CoreLogic RP Data.
Hobart, however, had a surprising start, recording the second strongest monthly result of any capital city.
It was the the strongest monthly result for six months.
Capital city dwelling values increased by 1.3% last month, but CoreLogic RP Data noted in its January Hedonic Home Value Results that the results were varied across the country.
<img src="/images/2015/02/02/core-feb-2-one.jpg" alt="">
Source: CoreLogic RP Data
Melbourne outperformed all other Australian capital cities in January, recording a 2.7% increase in dwelling values over the month. While Hobart's growth was second highest, at 1.6%, Sydney's 1.4% price growth made a significant impact on the national result due to the city's high number of homes.
CoreLogic RP Data Head of Research Tim Lawless described Hobart's results as a unique occurrence.
“Generally, Hobart has recorded the lowest rate of capital gain since the onset of the GFC, however housing market conditions  have  been  improving.    Local  economic  conditions  have  been  improving  and  Hobart  homes  are  the  most  affordable  of  any  capital  city," said Lawless.
"Additionally,  the  market  is  benefitting  from  the  return  of  ‘lifestyle  buyers’.  After  Darwin,  the  southernmost capital is also showing the second highest gross rental yields of  any other capital city.”
Hobart's median house price was $364,000 for the quarter to January, while the median unit price was $265,000.
Although Sydney's price growth slipped below both Melbourne's and Hobart's last month, its homes are still the most expensive in the country, with a median price of $850,000 for houses and $605,000 for units.
Lawless noted that Sydney's housing market has stood apart since 2009, with a 57% increase in home values from January 2009 to January 2015.
"The second highest growth rate over the same period has been in Melbourne where values are 50% higher. There is a significant gap between the next best performers over the same six year period. Darwin has seen less than half the level of growth at 24% followed by Canberra at 18% and Perth at 17% total growth," said Lawless.
Melbourne's house market was stronger than its units. House values were up 2.8% to a median of $613,000, while units were up 1.7% with a median price of $480,000. On a long term basis, price growth for detached houses has been stronger than unit price growth across the country.
Despite the strong January results, Lawless said the housing market is slowing.
"In a sign that housing market conditions are gradually cooling, the rolling annual rate of capital gain has been trending lower," he noted.
"At the end of January the annual rate of dwelling value growth across the combined capitals index had slowed to 8.0%, down from the early 2014 peak of 11.5%," Lawless said. 
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jrichardson-uRX5hFdKfN

Hobart shines in 2015's strong start, but house price growth set to slow: CoreLogic RP Data's January results

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Unit prices in Hobart took the biggest dive of those in any Australian capital city over the November quarter, according to CoreLogic RP Data.
The Tasmanian capital's unit values fell by 5.7%. They're the cheapest capital city units in the country, with a median price of $247,000. A buyer in Sydney can expect to pay more than double that for an apartment.
Property Observer looks to recent unit and apartment sales in Hobart to see just how far $247,000 will go.
<ol>
<li>
<a href="https://www.realestate.com.au/property-unit-tas-battery+point-113415219" target="_blank">10/64 St George's Terrace, Battery Point</a> <img src="/images/2014/12/08/1.jpg" alt="">
This north facing one bedroom unit is located on the third level of a block. It has built in wardrobes in the bedroom overlooking Mount Wellington. Internal windows separate various living areas. The 63 square metre apartment sold for $262,500 in October.
Price: $262,500
Bedrooms: One
Drive to CBD: Five minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-tas-battery+point-116957911" target="_blank">1/11 Trumpeter Street, Battery Point</a>
 <img src="/images/2014/12/08/battery-point-dec-8-breakout.jpg" alt="">
Set over two levels, this unit in a block of 11 has one bedroom and one bathroom. It was built in 1972 and has a recently renovated kitchen and a living area, with the bedroom and bathroom upstairs. Buyers paid $275,000.
Price: $275,000
Bedrooms: One
Drive to CBD:  Seven minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-apartment-tas-hobart-118034815" target="_blank">6/9 Sackville Street, Hobart</a>
<img src="/images/2014/12/08/hobart-dec-8-breakotu.jpg" alt=""> Vendors sold this first floor apartment in the Hobart CBD for $240,000. The studio apartment with a pull out bed was built in 2000 and features a glass brick wall. The unit has 35 square metres of floor space, with an additional 7 square metre laundry.
Price: $240,000
Bedrooms: One
Drive to CBD: N/A
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-tas-bellerive-117978611" target="_blank">2/7 Lower River Road, Bellerive</a>
<img src="/images/2014/12/08/bellereive-dec-8-one.jpg" alt="">
On the other side of the Derwent river is this two bedroom unit. One in a four unit complex, it sold for $260,000 in October. The two bedroom unit has a single carport with lock up storage, an open plan living and kitchen area, and a rear garden. There are 77 square metres of internal living space.
Price: $260,000
Bedrooms: Two
Drive to CBD:  12 minutes
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-tas-hobart-116949351" target="_blank">1/67 Barrack Street, Hobart</a>
 <img src="/images/2014/12/08/hobart-dec-8-two.jpg" alt="">
A ground floor apartment in a block of four sold for $280,000. The two bedroom Hobart unit has an open plan, with timber flooring throughout. It was sold with white goods and also includes a basement garage. It's leased at $300 per week, representing a yield of 5.57%.
 Price: $280,000
Bedrooms: Two
Drive to CBD: N/A
</li>
</ol>
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What will Hobart's median unit price buy you? 

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There are two standout opportunities in capital city Australia to buy well with good prospects for near-term growth – but most investors won’t do it because of entrenched attitudes.
The opportunities are Hobart and Adelaide, our two most affordable capital cities.
Investors tend to shun Tasmania and South Australia. They are regarded as states which lack growth drivers, such as strong population trends, expanding economies and infrastructure spending.
I think South Australia is totally underrated and that perceptions of it as a place without growth catalysts are simply wrong. There are some big-ticket events coming up in its resources sector and Adelaide has a high level of infrastructure development under way or in planning.
But I’ve written extensively about Adelaide and South Australia recently, so today I’ll focus on Tasmania and Hobart.
Tasmania has a thoroughly deserved reputation as the struggle state of Australia. As a population and as an economy, it has gone nowhere in recent years.
But things are changing and it’s time to re-consider Tasmania – and, in particular, Hobart.
After years of recording Tasmania as last or second last on every significant economic indicator in my various reports, I can now do something that I never expected to do: report that Tasmania now ranks number one in the nation on one very important economic indicator - housing finance for owner-occupiers.
Home finance rose 15.5% in the year ending July, compared to the national average rise of 9.1%. Tasmania clearly is rising from a low base, but for the state to rank number one for growth in a key indicator is a significant change.
Tasmania has also improved markedly with residential building approvals. Approvals for new homes are up 18.5% in annual terms, slightly better than the national average.
This is evidence of improving confidence in Tasmania. There is a new government running the state, some long-delayed projects are now happening in Hobart and there appear to be some prospects for economic growth (personally, I would prefer that they achieved it without chopping down old-growth forests, but that’s another story).
The greatest reason for optimism that Tasmanian property markets are headed for some overdue growth is that sales activity has been rising – not rapidly, but steadily – over the past six months or so.
There are growth markets scattered around the state, but most of them are in the Hobart metropolitan area.
In keeping with the usual pattern in real estate cycles, the upturn appears to be happening first in the inner-city areas – suburbs such as <a href="/news">Sandy Bay</a>, <a href="/news">New Town</a> and <a href="/news">West Hobart</a> – and some of the better waterfront areas.
Kingborough, a bayside municipality on the southern fringe of Hobart, has long been one of the best markets in the Hobart area over time – and it is producing some of the current growth areas, including <a href="/news">Kingston</a>, <a href="/news">Kingston Beach</a>, <a href="/news">Blackmans Bay</a> and <a href="/news">Margate</a>.
The Hobart apartment market has good momentum. The unit market has been rising steadily since late 2012, with sales in consecutive quarters numbering 94, 110, 135, 137, 144 and 150.
If investors can overcome their perceptions of Tasmania as the recession state, there are some juicy opportunities to buy in Hobart at very affordable prices (median prices $330,000 for houses and $248,000 for apartments), with genuine prospects for growth in the near future.
 You can contact Terry via <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> or on <a href="https://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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terryryder-YECXbqmri2

Something that I never expected to say: Hobart has some very juicy opportunities

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An undisclosed religious group has purchased Hobart’s historic Gasworks Village, located at the entrance to Hobart City.
It sold for around $7.5 million, its first sale for 21 years when sold for $300,000 to developer Robert Hosken.
Located at 2 Macquarie Street, the property forms part of the historic Sullivans Cove Precinct.
Knight Frank’s Tasmania chief Scott Newton negotiated the sale reflecting a yield of 7%.
The historic strata property was redeveloped in 1995 as a commercial hub currently tenanted to Vantage Hotel Group and Hogs Breath Café.
The remaining three lots were sold as vacant.
The Hobart Gas Company was established by an act of parliament in 1854 and started pumping gas from the site in 1857.
The town gas supply ended in 1978.
The buildings that remain include the original engine house and the stables.
 
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Hobart's historic Gasworks site sold for $7.5 million

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The median price of houses purchased in Hobart over the three months to April was $360,000, according to RP Data.
It was the lowest median house price of any capital city for the quarter. RP Data recorded 2.2% capital growth for the quarter for the city.
Property Observer looks to recent house sales in Hobart to see just what the median price will get you. It's especially timely for anyone thinking of taking a job in the newly announced Qantas call centre, with Hobart announced today as the new national base for the airline's customer contact business after the southern state offered millions of dollars in incentives at the airline.
<ol>
<li>
<a href="https://www.realestate.com.au/property-house-tas-north+hobart-116281055" target="_blank">29 YARDLEY STREET, NORTH HOBART <img src="/images/2014/05/28/1.jpg" alt=""> </a>This North Hobart cottage was sold for $357,500 in April. Outside, the 1890s home has a veranda and small garden, with an original outhouse. Inside, there are three bedrooms, with timber floorboards throughout. The house on a 196 square metre plot was purchased by the vendors in 2011 for $355,000 but was traded for only $24,000 in 1998.  Price: $357,500 Bedrooms: Three Travel to CBD: Four minute drive 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-tas-howrah-116254143" target="_blank">82 NORMA STREET, HOWRAH <img src="/images/2014/05/28/3.jpg" alt=""> </a>
This 1970s era home is in Howrah, a beachside suburb with views across the Derwent River to Hobart city. It has three bedrooms, a galley kitchen overlooking the dining area and a separate living room. From the elevated porch, the homeowners can look over their neighbours’ homes to the river.
Price: $365,000
Bedrooms: Three
Travel to CBD: 15 minute drive 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-tas-sandy+bay-116629799" target="_blank">8 REGENT STREET, SANDY BAY</a> <img src="/images/2014/05/28/2.jpg" alt=""> An 1885 era detached home in Sandy Bay was sold for $380,000 earlier this month. The house also includes two bathrooms and a kitchen overlooking the open plan living and dining area. The property also comes with a substantially sized paved outdoor area. The median house sale price for Sandy Bay was $650,000 in April. Price: $380,000 Bedrooms: Three Travel to CBD: Six minute drive 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-tas-bellerive-115836795" target="_blank">23 MALUKA STREET, BELLERIVE</a> <img src="/images/2014/05/28/4.jpg" alt=""> This home on the end of a cul-de-sac is in Bellerive, located on the Eastern side of the Derwent River. The three bedroom house sold for $350,000. It has a living area with polished Tasmanian Oak floorboards a modern kitchen. The vendors purchased this house for $305,000 in 2006. Price: $350,000 Bedrooms: Three Travel to CBD: 13 minute drive 
</li>
<li>
<a href="https://www.realestate.com.au/property-house-tas-howrah-116285171" target="_blank">148 TRANMERE ROAD, HOWRAH <img src="/images/2014/05/28/5.jpg" alt=""></a> Another Howrah home sold in April for $360,000. This three bedroom brick house was built in 1958. The buyers will enjoy mountain and river views, with the home set on a street bordering the River Derwent. It was sold after 33 days on the market. Price: $360,000 Bedrooms: Three Travel to CBD: 18 minute drive
</li>
</ol>
YOU MAY ALSO LIKE TO READ: 
<a href="/expert-insights/investing/what-melbournes-median-house-price-really-gets-you">What Melbourne's median house price really gets you</a>
<a href="/expert-insights/investing/what-can-you-get-for-adelaide-s-median-house-price">What can you get for Adelaide's median house price?</a>
<a href="/news/wa/what-can-you-get-for-perths-547-000-median-house-price">What can you get for Perth's $547,000 median house price?</a>
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What can you buy for Hobart's median house price?

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There were 2,669 auctions held across the combined capital cities last week, having fallen from 3,039 over the previous week.
While volumes were down when compared to the previous week, it is expected that this coming week will change that with auction volumes set to rise by 23%. Last week the preliminary auction clearance rate was recorded at 67.3% across the capital cities, compared to a final auction clearance rate of 67.7% the previous week.
At the same time last year, there were 1,308 capital city auctions and the final auction clearance rate was recorded at 61.7%.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Capital-city.jpg" target="_blank"><img class="alignnone size-full wp-image-3082" src="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Capital-city.jpg" alt="20140406 Capital city" width="1003" height="729"></a>
In similar fashion to previous weeks, Sydney has recorded the strongest capital city auction clearance rate at 75.4% based on preliminary collection. There were 1,124 auctions held across the city last week, compared to 1,163 the previous week when the final auction clearance rate was recorded at 75.9%.
It is probably a good time to make mention of the fact that we have noticed over the past few weeks that we are seeing some downward revision each week when Sydney’s final results are being calculated. This is more than likely due to the reporting culture of auctions, where agents hold off on reporting their successful auction until they can confirm that no after auction result has been obtained. Over the same week last year, there were 528 Sydney properties taken to auction with 66.4% of these recording a successful result.
While Sydney’s auction market showed significant strength over the first quarter of 2014, it is interesting to see that this aligned with overall market performance. According to the RP Data-Rismark Daily Home Value Index, Sydney dwelling values increased by 4.4% over the March 2014 quarter. Based on the most recent weekly update, across the private treaty market, Sydney homes are currently selling at the fastest rate of any capital city.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Sydney.jpg" target="_blank"><img class="alignnone size-full wp-image-3084" src="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Sydney.jpg" alt="20140406 Sydney" width="1000" height="654"></a>
For Melbourne there were 1,204 auctions across the city last week with a preliminary clearance rate of 63.4% recorded from 960 auction results compared to 66.9% recorded last weekend and 63.2% this weekend last year. Over March 2014 the clearance rate was 69.9% from 5,322 auctions.
House and unit values are definitely rising but the high auction volumes are continuing to provide buyers with increased opportunity which is also likely contributing to a lower clearance rates as buyers have a greater number of auction properties to choose from.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Melbourne.jpg" target="_blank"><img class="alignnone size-full wp-image-3083" src="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Melbourne.jpg" alt="20140406 Melbourne" width="1002" height="651"></a>
Last week across the Brisbane auction market we saw conditions improve with the preliminary auction clearance rate recorded at 57.9%, with 122 Brisbane auctions held over the week.
Despite the strengthening clearance rate, last week was a sharp fall in Brisbane auction volumes after the busy week prior when there were 238 auctions held and a clearance rate of 47.1%, however, over the coming week volumes are set to ramp up again, with 218 Brisbane auction scheduled so far.
When we look at the Brisbane auction market at the same time last year, there were significantly less auctions (92) while the clearance rate was recorded at 49.3%, which is generally on par with the current market performance.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Brisbane.jpg" target="_blank"><img class="alignnone size-full wp-image-3081" src="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Brisbane.jpg" alt="20140406 Brisbane" width="996" height="653"></a>
There were 98 Adelaide properties taken to auction last week, with the preliminary clearance rate coming in at 67.3%, compared to the previous week when the final clearance rate was recorded at 55.6% across 107 auctions.
At the same time last year, there were 54 Adelaide properties auctioned over the week, with half of the properties recording a successful result at the time of reporting.
<a href="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Adelaide.jpg" target="_blank"><img class="alignnone size-full wp-image-3080" src="https://blog.rpdata.com/wp-content/uploads/2014/04/20140406-Adelaide.jpg" alt="20140406 Adelaide" width="989" height="652"></a>
Once again, auction activity across the other capital cities was much more subdued and again, results were mixed.
There were 33 auctions held in Perth last week and the preliminary clearance rate was recorded at 26.7%. Across Hobart, 22 properties went to auction with a clearance rate of 50.0% and a 43.8% clearance rate in Canberra across 66 auctions.
There were 8 auctions held in Darwin last week and so far RP Data has captured a result for 5 of these auctions. At this point, no successful results have been recorded.
There are currently 3,271 auctions being tracked by RP Data over the coming week, in what is set to be a busy week leading up to Easter.
*Melbourne auction commentary provided by Robert Larocca, RP Data’s Victorian housing market specialist
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Melbourne's preliminary clearance rate the lowest of the year so far: RP Data's national auction market wrap

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The number of unique residential properties advertised for sale across the country over the four weeks to 30 March 2014 was recorded at 243,941. 
This figure consists of 47,805 newly listed properties over the four weeks and 196,136 re-listed properties.
As highlighted by the <a href="https://blog.rpdata.com/2014/02/homes-prepared-sale-real-estate-agent-activity-gathers-pace-2014/" target="_blank">RP Data listings index</a>, there has been a surge in the number of new properties listed for sale and they are 18.9% higher than they were at the same time a year ago. Although new listings have surged, total properties advertised for sale are -3.8% lower than they were a year ago which is reflective of the rapid rate of sale we are seeing nationally. Although new listings are way up on a year ago, the rate of sale is much faster and total listings are falling. 
To put it simply, properties are being absorbed by the market faster than they are being listed for sale.
<img class="aligncenter size-full wp-image-3065" src="https://blog.rpdata.com/wp-content/uploads/2014/03/Chart-12.jpg" alt="Chart 1" width="500" height="180">
Looking at the different residential property types; new listings for houses are 20.2% higher than they were a year ago however, total house listings are -4.5% lower.
New unit listings are also significantly higher, up 22.6% while total unit listings are -5.1% lower.  New vacant land listings are -5.4% lower than they were a year ago however, total listings are 2.1% higher.
<img class="aligncenter size-full wp-image-3063" src="https://blog.rpdata.com/wp-content/uploads/2014/03/Chart-21.jpg" alt="Chart 2" width="444" height="262">
Looking across the individual capital cities, each region except for Canberra (-12.0%) is recording a higher number of new properties listed for sale than they were a year ago. 
Sydney and Melbourne, which are also recording the strongest capital growth conditions, have recorded the largest rise in new listings over the year, up 49.7% and 32.0% respectively compared with a year ago.  Clearly new properties are coming to the market in both cities however, evidence suggests that most are selling quite shortly after the listing.
Although new capital city property listings are generally higher than they were a year ago, total listings are generally much lower than they were a year ago. Across the combined capital cities total listings are -8.3% lower than they were a year ago and each city except Hobart (3.3%) and Darwin (25.2%) is recording fewer total listings.  
Although both Sydney and Melbourne are each recording fewer total properties advertised for sale than a year ago, it is interesting to note that total listings in Melbourne (33,144) are significantly higher than in Sydney (22,423).
It is encouraging to see that a greater number of new residential properties are coming to the market than at the same time last year however, it is important to remember that in most regions sales transactions are much higher than they were a year ago. 
Clearly buyer demand has escalated and quality properties are not staying on the market for a long period of time which is highlighted by the fact that total listings both at a national and capital city level are lower than they were a year ago.
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