Avant Townhomes is adding to Ivanhoe’s family-sized housing options with <a href="https://www.apartments.com.au/new-townhouses/three-82-ivanhoe-382-upper-heidelberg-road-ivanhoe-vic-3079">Three 82</a>, a collection of just 16 four-bedroom townhomes on Upper Heidelberg Road.

The <a href="https://www.apartments.com.au/developers/intrapac-property">Intrapac Property</a> townhome division has taken a contemporary approach to the traditional family home, pairing larger floorplans with the lower-maintenance format of a townhouse.

[smartcode_project:default project_id=152069 project_image_fid=374394]

Designed by <a href="https://www.apartments.com.au/architects/arcadia-studio">Arcadia</a>, with landscaping by Landsite, the homes feature generous open-plan living and dining areas that connect directly to outdoor spaces, with layouts also designed to maximise natural light and privacy.

Natural stone is used throughout the interiors, including in kitchens that pair stone surfaces with bespoke cabinetry, considered storage and SMEG appliances.

The four-bedroom layouts include built-in wardrobes and a main bedroom with its own ensuite, while family bathrooms service the additional bedrooms. Each home also includes a lock-up double garage and intercom entry.

[smartcode_project:default project_id=152069 project_image_fid=374399]

Energy efficiency has been incorporated into the design through solar panels, double glazing and reverse-cycle heating and cooling, with the homes targeting 7-star energy ratings.

Rather than incorporating extensive communal facilities, Three 82 has been conceived around private residential amenity, with the 16-home scale keeping the focus on individual homes and their own indoor and outdoor spaces.

The development is located at 382 Upper Heidelberg Road, around one kilometre from Ivanhoe Village's cafés and retail and a short drive from Eaglemont Station and Ivanhoe Station.

[smartcode_project:default project_id=152069 project_image_fid=374393]

Several of Ivanhoe's established schools are also nearby, including Ivanhoe Girls' Grammar and Ivanhoe Grammar School. The address also provides access to the suburb's parklands and the wider Yarra River corridor.

<a href="https://www.apartments.com.au/project-marketer/nelson-alexander">Nelson Alexander</a> has been appointed to handle sales.

Construction is underway and progressing well, with Three 82 currently tracking toward completion in Q2 2027.

[smartcode_project_cta:default project_id=152069]

Joel Robinson

Three 82 brings boutique four-bedroom townhome collection to Ivanhoe

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/graya">Graya</a> has secured a prime Newstead site from fellow developer Fraser, subsequently lodging plans for The Silo, a major mixed-use residential project in Newstead designed around a new public laneway linking the James Street precinct with the wider Gasworks and Newstead neighbourhood.

Proposed for the corner of Chester and Morse streets, the <a href="https://www.apartments.com.au/architects/bureauproberts">Bureau^Proberts</a>-designed project places its strongest emphasis at ground level, where retail, landscaping and a new cobblestone pedestrian connection would open the site to the surrounding neighbourhood. The design team describes The Silo as “more than a residential building”, positioning the development as an extension of Newstead’s public realm rather than a standalone apartment tower.

“A new cobblestone laneway and landscaped connection between James Street and Gasworks unlock a missing pedestrian link, improving walkability and stitching together two of Brisbane’s significant urban destinations,” Bureau Proberts said in its Urban Design Report.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="0ea1b06a-75f5-40a5-b2c5-33c97bc86052" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/silo%20bldg.png?VersionId=KmjsAtNePu57_B31EM_DJ5T6KPJHtcmo" />

The Silo is planned as a mixed-use development incorporating apartments alongside a bar and centre activities including food and drink outlets, indoor sport and recreation, office and retail uses.

Architecturally, Bureau Proberts has conceived the building as a collection of vertically expressed, stepping forms rather than a single uniform tower. The composition rises from an articulated podium before being broken by a triple-height landscaped recreation level, with the upper section becoming more compact before terminating in a landscaped rooftop garden.

The project's name and architectural language draw directly from Newstead's industrial history. Patterned off-form concrete is proposed as the principal façade material, complemented by slender metal rod balustrades and extensive planting. The cylindrical and vertically ribbed elements give the building its silo-like expression, while curved balconies and planted edges introduce a softer subtropical layer.

“The Silo reinterprets its robust forms, scale and materiality through a contemporary subtropical architectural expression, creating a building that acknowledges its industrial legacy, while responding to the way the precinct is occupied today,” Bureau^Proberts said.

The recreation level is one of the defining breaks in the tower. Plans include a lap pool, mature subtropical planting and shared resident facilities within an elevated communal garden. Landscaping continues through the podium and onto the rooftop, where a further garden forms what the architects describe as a “subtropical crown” to the building.

<img alt="First look: Graya plans The Silo as new pedestrian link between James Street and Gasworks" data-entity-type="file" data-entity-uuid="f8451036-35a4-49a9-8d88-2ef4438eba3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Silo%20Lane.png?VersionId=h8N31_rYmCEqoNrpt4kbYVQhJGZn60LH" />

At street level, the development has been designed to establish a more permeable block. Retail and hospitality tenancies address the public realm, while landscaped pedestrian spaces lead into the new laneway connection. Renders in the design report show the proposed “Silo Lane” as a substantial opening through the podium, framed by cylindrical concrete forms with cascading planting above.

The Silo continues Graya's move into larger apartment developments after building its reputation across high-end residential projects in Brisbane and the Gold Coast.

Graya buys Frasers Newstead site, plans The Silo between James Street and Gasworks precincts

<a href="https://www.apartments.com.au/developers/wickton">Wickton</a>’s completed Linacre Rise development in Hampton is giving Bayside downsizers the opportunity to move into a spacious apartment near the beach, with the developer covering stamp duty for a limited time.

The 27-residence development has been designed for buyers who want to simplify their living arrangements without giving up the space, warmth and quality associated with a long-term family home. Most apartments have already been secured by Bayside locals, leaving a select collection of two and three-bedroom residences and penthouses available.

Two-bedroom apartments are priced from $1.275 million, three-bedroom residences from $2.25 million and penthouses from $3.375 million, with the completed homes available to inspect and move into now.

[smartcode_project:default project_id=95289 project_image_fid=366760]

<a href="https://www.apartments.com.au/buildings/linacre-rise-hampton-8-10-linacre-road-hampton-vic-3188">Linacre Rise</a> occupies an elevated position on one of <a href="https://www.apartments.com.au/developments/hampton-vic-3188">Hampton</a>’s quiet, tree-lined streets, around 250 metres from the bay and 500 metres from Hampton’s village centre. Its setting gives residents access to the beach, local cafés, shops and Hampton Train Station while retaining the feel of an established residential neighbourhood.

Architecture and interiors by <a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a> draw on the warmth and permanence of traditional brickwork, with the building integrated into terraced landscaping by <a href="https://www.apartments.com.au/landscape-architect/john-patrick-landscape-architects">John Patrick</a>. Ground-floor apartments are elevated above the street and include private garden courtyards, while several upper-level residences have generous balconies and outlooks toward the bay.

Inside, the residences favour natural materials and generous proportions. Herringbone-pattern European oak flooring, natural stone benchtops, premium joinery and Swiss V-ZUG appliances are among the key inclusions, while integrated storage has been incorporated across kitchens, bathrooms, studies and living areas.

The kitchens have been planned as practical spaces for both everyday use and entertaining, with substantial island benches, detailed cabinetry and adjoining dining and living zones. Full-height wardrobes, plush bedroom carpeting and carefully considered lighting reinforce the residential character Wickton sought to retain for buyers moving from larger homes.

[smartcode_project:default project_id=95289 project_image_fid=366769]

A Linacre Rise purchaser said the completed apartment had delivered the space, outlook and construction quality they had been seeking.

“The unit is very light, has views to die for over the bay, all construction materials and fittings are premium quality, we have secure parking for three cars, EV charging at very competitive rates, the neighbours are friendly and there is just a lovely ambiance about the place,” the purchaser said.

Environmental features include solar panels, shared electric vehicle charging stations, rainwater harvesting for toilet flushing and landscape irrigation, double-glazed windows and water-efficient fixtures and appliances.

[smartcode_project:default project_id=95289 project_image_fid=366762]

The development was built by Balmain &amp; Co, with Wickton managing the broader development process through its in-house team.

For downsizers, the project’s completed status removes much of the uncertainty associated with buying off the plan. Purchasers can inspect the finished apartments, understand their outlook and proportions, and move in without waiting for construction to conclude.

The remaining selection includes north-oriented balconies, corner configurations and penthouses with elevated bay views. The developer-paid stamp duty initiative is available for a limited time, with potential savings of up to $200,000 depending on the residence purchased.

[smartcode_project_cta:default project_id=95289]

Limited-time stamp duty offer at completed Linacre Rise apartments in Hampton

Luxury apartment buyers have long prioritised design, space and finishes, but increasingly they're placing equal importance on something less tangible: how easily they can live without relying on a car.

At <a>Richmond Square</a>, <a href="https://www.apartments.com.au/developers/fortis">Fortis</a> believes that convenience begins beyond the apartment itself, with the mixed-use precinct earning a near-perfect Walk Score of 99.

The development has been planned around the idea that some of the most valuable amenities aren't contained within a building, they're the restaurants, cafés, parks, transport connections and daily conveniences that can all be reached on foot.

Located just behind Swan Street and Church Street, <a href="https://www.apartments.com.au/new-apartments/richmond-square-1-wiltshire-street-richmond-vic-3121">Richmond Square</a> places residents within one of Melbo​u​rne's most established lifestyle precincts while offering a quieter residential setting removed from the busiest thoroughfares. East Richmond Station is moments away, trams run along both Swan and Church Streets, and the MCG, Melb​​ourne Park, Yarra River trails and the CBD are all within walking distance. At the same time, the precinct itself will introduce a curated mix of dining, retail, hospitality and wellness offerings, creating a destination that extends well beyond its residential buildings.

[smartcode_project:default project_id=13181 project_image_fid=348530]

For Fortis, that combination of location and scale was what made the site unique.

"<a href="https://www.apartments.com.au/developments/richmond-vic-3121">Richmond</a> is one of Melb​o​urne's most established and distinctive inner-city neighbourhoods, with a rare combination of dining, culture, recreation, public transport and proximity to the CBD," the developer said.

"The opportunity at Wiltshire Street was particularly compelling because the site sits slightly removed from the activity of Swan and Church Streets while remaining only moments from everything that makes the area desirable."

Rather than developing a standalone apartment building, Fortis consolidated 15 individual properties to create one of the larger development parcels assembled on Mel​b​ourne's city fringe in recent years. That allowed the team to deliver a genuine mixed-use precinct comprising 107 residences across Wiltshire House and Carmine House, premium office space, hospitality venues, retail, wellness offerings and a future 57-room hotel.

"The scale of the site allowed Fortis to think beyond a standalone apartment building," the developer said.

"Richmond Square could be planned as a complete lifestyle precinct, bringing homes, workplaces, dining, retail, hospitality and wellness together around a series of activated public spaces. The aim was to create a destination that feels connected to Richmond rather than separate from it."

[smartcode_project:default project_id=13181 project_image_fid=348533]

The emphasis on walkability has also resonated with buyers.

Interest has been strongest from established owner-occupiers, particularly downsizers from Richmond and Melb​ourne's inner east who want to remain close to familiar restaurants, workplaces, family and social networks while moving into a more secure, lower-maintenance home. The project is also attracting Mornington Peninsula and interstate buyers seeking a Melb​ourne residence they can lock up and leave between visits.

Many are looking for generous living spaces, room to entertain, quality finishes and confidence in the project team, but location remains one of the biggest deciding factors.

"For many buyers, Richmond Square provides a way to simplify the practical side of home ownership without reducing the quality of their lifestyle," the sales team said.

"Location is also a major driver of interest. Buyers can remain connected to the CBD, major sporting events, the arts centres, local restaurants, cafes and bars and their family while living in a private and secure residence that is easy to lock up and leave for weekends or longer periods away."

[smartcode_project:default project_id=13181 project_image_fid=348549]

The residences themselves have been designed with that buyer in mind. Award-winning architecture practice SJB and interior designers Hecker Guthrie have created spacious two and three-bedroom apartments and penthouses that prioritise generous living areas, natural light, bespoke joinery and private terraces. Above, a rooftop sanctuary by Acre includes landscaped lawns, bookable dining rooms, barbecue facilities, wellness spaces and panoramic views across the CBD, the MCG and Port Phillip Bay.

Fortis believes Richmond Square reflects a broader evolution in apartment living, where the surrounding neighbourhood becomes just as important as the residence itself.

"Richmond Square introduces a different proposition: generously proportioned residences within a genuinely mixed-use, hospitality-led destination," the developer said.

"The project's location and Walk Score of 99 further support a lifestyle where residents can complete many everyday journeys without relying on a car."

Fortis has assembled an experienced team that includes <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, <a href="https://www.apartments.com.au/interior-designers/hecker-guthrie">Hecker Guthrie</a>, <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a> and builder <a href="https://www.apartments.com.au/builders/hacer-group">Hacer Group</a>, reflecting the developer's commitment to creating projects with enduring design quality and meaningful connections to the communities in which they sit.&nbsp;

Richmond Square is an expression of that philosophy, bringing together homes, workplaces, hospitality and wellness within one of Me​lb​ourne's most walkable neighbourhoods.&nbsp;

Construction is now almost complete, providing purchasers with growing confidence ahead of its expected September 2026 completion.

[smartcode_project_cta:default project_id=13181]

Walk Score of 99 places Richmond Square at the heart of Melbourne's most connected lifestyle

<h3 data-end="19" data-section-id="1dvgwoe" data-start="0">Summary</h3>

<ul data-end="634" data-start="21">
	<li data-end="170" data-section-id="1o77v31" data-start="21">Walker Corporation has lodged plans for a second major residential development in the Maroochydore City Centre, a 29-storey tower known as Celeste.</li>
	<li data-end="327" data-section-id="1lb0y6t" data-start="171">The Plus Studio-designed proposal at Lot 30 Sunshine Coast Parade would deliver 208 apartments, including four four-bedroom sub-penthouses and penthouses.</li>
	<li data-end="487" data-section-id="za720" data-start="328">The application comes as Walker doubles down on Maroochydore following the strong sales campaign at SOL by Walker, where the first tower is nearing sell-out.</li>
	<li data-end="634" data-section-id="5sovec" data-start="488">Walker is a key partner in the transformation of the Maroochydore City Centre, which is expected to ultimately deliver at least 4,000 new homes.</li>
</ul>

Walker Corporation is doubling down on Maroochydore following the successful sales campaign at its first residential project in the emerging CBD.

The national developer has filed plans for <a href="https://www.apartments.com.au/new-apartments/celeste-30-sunshine-coast-parade-maroochydore-qld-4558">Celeste</a>, a new 29-storey apartment tower at Lot 30 Sunshine Coast Parade, just metres from its under-construction SOL by Walker development.

The plans, prepared by Plus Studio, would see 208 apartments delivered across a 100-metre tower on the 2,376 sqm site, which fronts Sunshine Coast Parade, First Avenue and Future Way within the Maroochydore Priority Development Area.

<img alt="Walker" data-entity-type="file" data-entity-uuid="17038209-6fea-4ed2-855d-fd4df65b3d02" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.16%E2%80%AFAM.png?VersionId=iZD.oVXcQn.aLpUytDAW.CWjxP4puWMy" />

The proposed apartment mix comprises 36 one-bedroom apartments, 48 two-bedroom apartments, 72 two-bedroom apartments with an additional multipurpose space, and 48 three-bedroom apartments.

The upper levels would be capped by two four-bedroom sub-penthouses and two four-bedroom penthouses, taking the total apartment count to 208. The preliminary yield study also provides 262 car spaces, 114 resident bicycle spaces and storage for each apartment.

It represents Walker's next major residential move in the new Maroochydore CBD after the success of SOL by Walker, its $220 million two-tower project nearby.

SOL launched to market in early 2025 and has since seen strong demand, particularly from local owner-occupiers. By February this year, Walker said the first SOL tower was nearing sell-out, with a strong waitlist also emerging for its recently released penthouse collection.

Construction is already underway on SOL, with the first tower expected to be completed in late 2027 and the second to follow in early 2028.

[smartcode_project:default project_id=147777 project_image_fid=319846]

<h2 data-end="2518" data-section-id="1b2dyo5" data-start="2459">Celeste to rise 100 metres over Maroochydore City Centre</h2>

Celeste would take a different form to the twin 19-storey buildings at SOL.

Plus Studio has designed a single 100-metre tower above an activated podium, with the architecture responding to the site's prominent position and three street frontages.

The podium would incorporate commercial tenancies and public art, with sweeping façade elements wrapping the street edges. The scalloped concrete podium has been inspired by the patterns created in sand at low tide, while extensive landscaping would continue vertically through the tower.

The ground level plans show three commercial tenancies addressing Sunshine Coast Parade alongside the residential lobby and landscaped public realm. The podium would then accommodate several levels of car parking before the residential tower rises above.

<img alt="Celeste" data-entity-type="file" data-entity-uuid="121f77b1-71c5-46d7-9b36-0a7d474211ca" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-10%20at%2010.24.47%E2%80%AFAM.png?VersionId=MGrg9Hb7HgzLN0Lelq_xrXNAruVl77ia" />

Plus Studio said the tower had been designed to maximise views from each apartment, taking in the Maroochy River, Sunshine Coast hinterland, Cotton Tree and Maroochydore Beach and ocean.

Those views have also shaped one of the project's key features, with Walker proposing to put the primary resident amenity on Level 29 rather than lower within the building.

The rooftop would feature a 284.9 sqm pool area with an infinity edge, along with a cold pool, spa, sauna, 93.2 sqm gym, sunset lounge, BBQ and dining areas, pool deck and private dining space. Cabanas and day beds are also shown across the recreation level.

The two penthouses would extend across the upper levels and each feature private terraces and plunge pools.

<h2 data-end="4202" data-section-id="v5f4ix" data-start="4160">Walker's growing Maroochydore footprint</h2>

Celeste further reinforces Walker's commitment to the transformation of Maroochydore City Centre.

Walker is one of the key partners delivering the new CBD alongside Sunshine Coast Council and SunCentral Maroochydore, with the broader 62-hectare Priority Development Area occupying the former Horton Park Golf Course and surrounding land.

The precinct is ultimately expected to accommodate at least 4,000 new homes as Maroochydore evolves into the Sunshine Coast's principal commercial and residential centre.

When SOL secured approval in February 2025, Walker Managing Director and CEO David Gallant described it as the "first of many residential projects" the company planned for the Maroochydore City Centre.

Celeste now provides the clearest indication yet of what comes next.

The site sits immediately within the new CBD, with the design report identifying Sunshine Plaza and surrounding parkland within walking distance and Maroochydore Beach around a five-minute drive away.

For Walker, the timing of the application comes as its first residential bet on the new CBD appears to have been vindicated.

SOL has progressed from planning approval to construction while its first release has approached sell-out, giving Walker confidence to push ahead with another 208 apartments and take its residential pipeline in the Maroochydore City Centre to around 450 dwellings across the two projects.

Celeste remains subject to planning approval, with the architectural material describing the scheme as a preliminary yield study that may change through the assessment process.

Walker doubles down on Maroochydore with 29-storey Celeste apartment tower

Home Buyers

Sydney developer, Coronation Property is helping to make stepping onto the property ladder a little easier for aspiring home buyers.&nbsp;

Coronation, a local developer of mixed-use developments and masterplanned communities across Sydney, has recently launched their &#39;Own Way&#39; finance scheme, which offers flexible deposit arrangements for aspiring buyers.&nbsp;

The scheme caters to homebuyers wanting to get a foot in the door, but who may be struggling to save for the substantial 10 per cent deposit, with the payment scheme allowing purchasers to secure an apartment with just a one per cent, up front deposit.

[smartcode_project:default project_id=31751 project_image_fid=160999]

After which, buyers can continue to save and pay off the remaining balance of the 10 per cent deposit over a 12-month period.

Further easing the burden for young buyers, the Own Way payment scheme has no impact on eligibility for the NSW Government&rsquo;s First Homeowner Grant and First Home Buyers Assistance Scheme.

The scheme is eligible at Coronation Property&#39;s&nbsp;project, Mason &amp; Main - the group&#39;s precinct-style project west of Sydney in Merrylands.

Les Landerer, a senior executive at Coronation Property, says the scheme was primarily designed to support first home buyers and young families, who are consistently priced out of the housing market.

&ldquo;Coronation Property is committed to helping more purchasers on their personal journey towards buying their first property, because we understand it&rsquo;s one of the most valuable and rewarding investments most people will make in their lifetime,&rdquo; Landerer says.

[smartcode_project:default project_id=31751 project_image_fid=161005]

&ldquo;With the gap between median house and unit values in Sydney increasing, the Own Way scheme allows buyers to enter the local property market at an attainable price point, without having to sacrifice on quality.

&ldquo;We collaborate with the most distinguished architects and interior designers in the industry to develop and build high-quality, high-design residences, crafted especially for the diverse lifestyles of our buyers, and this new scheme is our way of helping people gain affordable entry into Sydney&rsquo;s housing market.&rdquo;

After trialling the incentive with select customers in 2021, Coronation Property noticed strong uptake of the offer, which in turn helped with the decision to expedite the launch.

First home buyer, Soomin Lee, was among the first to take advantage of the Own Way scheme, purchasing a two-bedroom apartment at&nbsp;Mason &amp; Main.

[smartcode_project:default project_id=31751 project_image_fid=161001]

&ldquo;I feel like we&rsquo;re always told to buy house and land, but the 10% upfront deposit wasn&rsquo;t feasible for me,&rdquo; Lee said.

&nbsp;&ldquo;By locking in an apartment on a one per cent upfront deposit instead, and then having time to save the remaining portion of the deposit, I was able to get into the property market straight away and have the convenience of being able to pay the remaining balance over a reasonable timeframe.

&ldquo;Without the one per cent incentive I would have had to wait another two to three years to buy a home. It was always in the back of my mind, but I wasn&rsquo;t able to make it a priority,&rdquo; Lee added.

[smartcode_project_cta: project_id=31751]

The scheme caters to homebuyers wanting to get a foot in the door, but who may be struggling to save for the substantial 10 per cent deposit, with the payment scheme allowing purchasers to secure an apartment with just a one per cent, up front deposit.



alisonwarters@gmail.com

Coronation Property launch one per cent home deposit scheme to support homebuyers

<html><body>
The stage is well and truly set for the return of theatrical home sales in New South Wales, after the state government lifted restrictions on in-person auctions and open-for-inspections this weekend.
Real estate agents are back to selling homes in an environment that maximises their performance and prospective homebuyers have been able to inspect properties more easily.
The Northern Territory lifted restrictions on live auctions and open-for-inspections last weekend, while up to 10 people are allowed to inspect homes in Western Australia.
A return to the usual ways that people can buy, sell and rent property is the best news for the industry since mid-March, but the real benefit will come once we see increased real estate listings.
A big challenge for Australia’s economic recovery will be confidence, and right now, listing volumes are still well down.
Listings are down but buyer search activity is up
Since the weekly low over a month ago, buyer search activity on realestate.com.au has increased by 46 per cent nationally and is now flowing through to buyer enquiry.
Enquiry is now up 24 per cent compared to the same time last year. While the connection between buyer enquiry and transactions is not an exact one, it does show greater intent to purchase than searches alone.
There are many factors driving this uptick including a relatively low number of active COVID-19 cases, a stable banking system, incredible levels of government stimulus, and importantly, the gradual opening of the economy.
Interest in commercial farming surges ahead
Buyer interest in all commercial property types dropped in April with the exception of commercial farming.
Compared to April last year, demand (views per listing) is now up 22 per cent. At the other end of the commercial property spectrum, retail demand dropped 37 per cent and office demand declined 30 per cent.
Interest in commercial farming is likely to be partly driven by COVID-19. Unlike shopping centres and offices, which are experiencing high numbers of closed stores and empty spaces, farms are still operational, and people still need food.
Other factors also playing a role in commercial farming demand include the weak Australian dollar and the drought breaking,. Many buyers are also looking beyond seasonal and commodity cycles when purchasing.
Western Australia is attracting the most interest while South Australia is the only state with a decline in activity. During the drought, some WA commercial farms were recording bumper conditions contrasting what was happening on the eastern seaboard.
Homes are selling faster compared to last year
Interesting data looking at days on site from realestate.com.au outlines just how quickly homes are selling at the moment compared to the same time last year.
Seasonality often impacts how quickly properties sell. For example, selling a home in January generally takes longer than in September, which is also consistent with broader market activity.
Since COVID-19 lockdowns started in mid-March, days on site – the number of days a listing was active on realestate.com.au to the date it was delisted due to being sold – has increased.
However, this increase is not unusual and is typical of what we see in April given the Easter holiday period, as well as Anzac Day.
Encouragingly, days on site in April 2020 were far lower than what they were in April 2019. It is likely that the low number of properties for sale, combined with increasing levels of search and enquiry, are driving this trend.
NERIDA CONISBEE <a href="https://www.realestate.com.au/news/author/nerida-conisbee/" target="_blank">is the chief economist for the REA Group</a>
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nconisbee-4KnoX9XmtH

Listings are down but buyer search activity is up: REA's Nerida Conisbee

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House buyers who purchased in the past three years, particularly in Sydney and Melbourne, are the most worried by recent falls in house prices, according to a recent survey by home loan lender ME bank. 
The survey of 1,500 respondents indicated there may be a flow on to effect consumer spending.
Those who made purchases more than three years ago not as worried about owing more than their property is worth, 27% compared to those who bought property in the past 36 months of whom 62% say they are concerned.
<img src="https://www.urban.com.au/images/2018/12/3/Me%20bank%20worry.JPG" alt="">
Half of the respondents said falling prices made them feel less wealthy, while 73% said they would be more careful with their money in future.
Those who think prices will go up outnumber those who think prices will fall in every states except NSW, demonstrating that the recent turn in prices has had an effect on consumer sentiment.
ME’s head of home loans Andrew Bartolo sai,: “There’s little point worrying about what will happen to prices short-term if you’re intending to live in a property long-term. Same goes for long-term investors.
“Those looking to borrow should ensure they have a strong savings history, a deposit over 20%, and can demonstrate they can keep their levels of expenditure to low levels long-term,” he advised.
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j.ballantyne1990-6AQqhLzZaK

House price movement is worrying recent buyers most: ME bank

<html><body>
Domain's revised results for the weekend of April 28 and 29 put the Sydney clearance rate at 48.1 per cent.
It was a significant occurrence, the first time below 50 percent on an ordinary auction weekend for many years.
<table style="height: 173px; width: 531px;" border="0"><tbody>
<tr>
<td>Last week revised tally</td>
<td>Saturday 28 April 2018</td>
</tr>
<tr>
<td>City</td>
<td>Sydney</td>
</tr>
<tr>
<td>Clearance rate</td>
<td>48.1%</td>
</tr>
<tr>
<td>Number listed</td>
<td>673</td>
</tr>
<tr>
<td>Number reported auctions</td>
<td>502</td>
</tr>
<tr>
<td>Number sold</td>
<td>301</td>
</tr>
<tr>
<td>Number w/drawn</td>
<td>124</td>
</tr>
<tr>
<td>Total value sold (million)</td>
<td>$261.7</td>
</tr>
<tr>
<td>Auction median houses</td>
<td>$1,307,000</td>
</tr>
<tr>
<td>Auction median units</td>
<td>$905,000</td>
</tr>
</tbody></table>
Cooley Auctions' auctioneer Damien Cooley recently suggested a generally accepted auction clearance rate for a healthy market, where both sellers and buyers have equal bargaining positions, was between 50 per cent and 60 per cent.
The original Saturday night had the clearance rate at 58.1 percent.
<table style="height: 174px; width: 414px;" border="0"><tbody>
<tr>
<td>City</td>
<td>Sydney</td>
</tr>
<tr>
<td>Clearance rate</td>
<td>58.1%</td>
</tr>
<tr>
<td>Number listed</td>
<td>670</td>
</tr>
<tr>
<td>Number reported auctions</td>
<td>378</td>
</tr>
<tr>
<td>Number sold</td>
<td>264</td>
</tr>
<tr>
<td>Number w/drawn</td>
<td>76</td>
</tr>
<tr>
<td>Total value sold (million)</td>
<td>$224.1</td>
</tr>
<tr>
<td>Auction median houses</td>
<td>$1.3 milion</td>
</tr>
<tr>
<td>Auction median units</td>
<td>$905,000</td>
</tr>
</tbody></table>
"Buyers certainly feel like the tides have changed ... but we won't call them buyers' markets unless clearance rates are less than 50 per cent.""Things are changing and the market is not as good as it was, but it's a very fair market," Cooley Auctions' auctioneer Damien Cooley told Fairfax Media recently.
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jchancellor-FAypfDUnLy

Domain put Sydney clearance rate at just 48 percent, i.e. a buyer's market

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<img src="https://counter.theconversation.edu.au/content/67693/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The Australian Prudential Regulation Authority (APRA) has moved away from its non-prescriptive “principles based” regulatory approach to a one size fits all explicit guidance but it doesn’t appear to be encouraging lenders to be more prudent. 
The housing market may be getting away from APRA and the Reserve Bank of Australia (RBA). In late 2015, both regulators voiced concerns about the “horribly low” standards of the mortgage lending sector and the risks to financial stability. Even bankers are getting jittery.
There has also been well-publicised problems with brokers originating dodgy mortgages that lenders have not picked up. In its existing guidance (which has not been changed in the latest version), APRA requires lenders to have all sorts of procedures to catch dodgy mortgage applications from brokers including procedures to verify the accuracy and completeness of provided information.
But APRA has not named and shamed the lenders who failed to catch dodgy mortgage applications, not imposed capital sanctions or reprimanded directors and management. It hasn’t required that lenders change their broker process.
What APRA is asking is that banks slug first time buyers even more. In the new rules, home buyers are now required to prove they can service a 7 percent mortgage interest rate on a loan to value ratio of less than 90 percent with less income being taken into account. This is on top of trying to save a deposit that is disappearing every day as house prices boom.
It is going to take a lot more than forgoing a few smashed avocado toasts to make up for the additional burden imposed by APRA.
There are a few important questions raised by APRA’s sudden conversion to pragmatic rather than purely principled regulation.
First, the numbers. Where did the 7 percent come from? APRA doesn’t disclose this, but in an era of almost zero interest rates, it’s big. And maybe in time, when the RBA announces its changes to interest rates, the 7 percent may be changed in-line and economists will begin to bet on whether it will go to 6.5 percent or 7.5 percent. 
In looking at a borrower’s income, APRA notes that it is “prudent practice is to apply discounts of at least 20 percent on most types of non-salary income”. No explanation also on why this particular percent. It’s also not specific on what “most” means.
If banks are indeed lending imprudently surely the banks themselves should suffer. First by naming and shaming, then if necessary, requiring additional capital buffers, thus driving down dividends – a real market based solution.
<h2>APRA is changing the way it regulates</h2>
Throughout the turmoil of the global financial crisis and the regulatory mayhem that followed, APRA held fast to its “principles based” approachto regulation:
"To be principles-based is to give emphasis to the achievement of sound prudential outcomes in setting regulatory requirements and expectations, without necessarily seeking to specify or prescribe the exact manner in which those outcomes must be achieved."
In short, APRA lays out the high-level principles that it will use to supervise the banks and insurance companies that is responsible for, and then will check that those principles are being adhered to. It did not believe in a “one size fits all” approach.
But this week, there appears to have been a back-flip. In a consultation paper for an update to APRA’s guidance on mortgage lending, the regulator has been very specific indeed. It notes:
“Prudent serviceability policies should incorporate a minimum floor assessment interest rate of at least seven percent.” 
This very specific guidance replaces an earlier guidance that was more general. From a regulatory perspective, an important question is why abandon principles-based regulation? If it hasn’t worked in the past, then a rethink of the role and approach of prudential regulation is needed. 
This has happened overseas, where the UK Financial Conduct Authority, while retaining 11 principles that firms should adhere to, has become much more intrusive. Unlike our regulators, the authority has even going so far as to impose massive fines for misconduct. It states:
“We also adopt a markets-focused approach to regulation, both in our work as a competition regulator and more broadly to deliver regulation that works with the market to improve consumer outcomes. Interventions at the market level are an effective and powerful way of tackling and mitigating problems across a large number of firms, which in turn benefits a large number of consumers.”
Rather than APRA slipping in such a major change like this latest one into a consultation paper, it might be appropriate to have a transparent debate about such a potentially significant change in prudential regulation in Australia.
<div class="hover tooltip bottom">Pat McConnell is honorary fellow, Macquarie University Applied Finance Centre, Macquarie University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/pat-mcconnell-13137" target="_blank">here</a>.</div>
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New APRA guidance on lending will hurt home owners when it should be the banks

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The financial literacy of some first home buyers (FHBs) is a matter of concern, according to a recent survey.
According to Mortgage Choice’s annual First Home Buyer Survey, 18.3% of first time buyers didn’t know banks can move rates independently of the central bank.
"It is clear there is more work to be done to help improve the financial literacy of Australians. Anyone planning to get their foot on the property ladder needs to understand the role and power financial institutions have on the rise and fall of interest rates,” said Mortgage Choice chief executive John Flavell.
“Buying property is one of the biggest financial commitments a person will ever make, so future first home buyers need to know exactly what they are getting themselves in for when taking on a mortgage."
The survey also found the majority of potential first time buyers are concerned about rates rising independently of the Reserve Bank, with more than half (57.5%) of Australians surveyed planning to purchase property in the next two years "very concerned" or "somewhat concerned" about lenders moving interest rates independently of decisions made by the central bank.
Many lenders, including the Big Four -- Westpac, CBA, NAB, ANZ -- lifted their variable rates independently of the RBA in October by an average of 18 basis points.
One basis point is one-hundredth of a percentage point.
For your free Property Observer eBook from RAMS, 12 tips for first-time buyers, covering everything you need to know when it comes to purchasing property, click here.
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One in five first home buyers don't know banks can act independently on interest rates: survey 

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Policy should not advantage property investors at the expense of prospective owner-occupier home buyers, according to the Reserve Bank of Australia.
In the submission to the inquiry into Home Ownership, the Reserve bank stated that financial stability considerations would suggest that tax and regulatory frameworks should avoid encouraging over-leveraging into property, whether by owner-occupiers or investors. 
"In considering opportunities for reform, the Bank believes that it is worth bearing in mind that there are both benefits and costs of owner-occupation. 
"The broad policy objective of ensuring that all Australians can access suitable housing at reasonable cost need not translate into an objective that all households should purchase their home early in life, let alone that they should all be able to purchase their first home in their ideal location. 
Home ownership in Australia increased considerably over the past century, but has been stable at around 70 per cent since the 1960s. 
"The increases were concentrated in the periods immediately after the two world wars, particularly World War II (WWII), as a result of significant government assistance including War Service Homes programs."
According to the latest Census, around 68% of Australian households owned their own home in 2011.
<a href="/images/2015/09/10/Screen%20Shot%202015-09-10%20at%201.08.43%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/10/Screen%20Shot%202015-09-10%20at%201.08.43%20PM.png" alt="" width="548" height="496">
"The general stability in home ownership in Australia over recent decades has masked some marked changes in home ownership among different age groups. 
"In particular, there has been a pronounced decline in home ownership among younger households, particularly in the 25–34 and 35–44 age groups. Home ownership rates have generally been more stable among older households. 
<a href="/images/2015/09/10/Screen%20Shot%202015-09-10%20at%201.11.04%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/10/Screen%20Shot%202015-09-10%20at%201.11.04%20PM.png" alt="" width="466" height="402">
 
Factors contributing to lower home ownership rates among younger households include the following.
"An increase in income inequality over recent decades, in part reflecting the simultaneous rise of two-income households with increasing workforce participation by women as well as the rise of single adult households (with or without dependents). 
"This led to increased borrowing capacities for households with high home ownership propensities, which will tend to have advantaged older households over younger ones. Accordingly, the decline in home ownership rates over the past decade or so has been concentrated in the third and fourth income quintiles, while that of the top income quintile has been little changed.
"Financial innovation in the 1990s and the 2000s arguably led to greater relaxation of restrictions on borrowing for higher-income households than for lower-income households. 
"Increased labour market flexibility, accelerated technological change and other factors may have increased employment and income insecurity and so reduced the willingness of some households to take on the long-term financial commitment of owning a home (or the ability to service a loan) and the capability of some to remain in home ownership."
The home ownership rate in most states remains above levels. While all states had home ownership rates between 65 and 75 per cent as at the latest Census, there is still considerable variation across states, with home ownership ranging from a low of around 65 per cent in Queensland to a high of almost 72 per cent in Tasmania and Victoria. 
"The transition to a low-inflation regime, implying lower nominal interest rates, has significantly increased households’ borrowing capacities relative to their current incomes, and therefore their capacity to service debt on owner- occupied housing. 
"Survey evidence suggests that total housing costs of owner-occupiers have not moved much relative to incomes over the past couple of decades. 
"Alongside the other demand drivers, one fundamental determinant of housing demand will be the rate of new household formation, which is in turn dependent on the interaction between population growth and developments in average household size. 
"After relatively stable growth from the early 1990s through to the mid 2000s, Australia’s population growth stepped up significantly owing to higher net immigration and, to a lesser extent, a slightly higher rate of natural increase.
"The composition of population growth can also influence housing demand. Much of the fluctuation in population growth rates over the past decade has been driven by fluctuations in net arrivals of people on student visas."
Recent rule changes have made it easier for students to remain in Australia after graduation, including by becoming permanent residents. 
"Over the shorter term, fluctuations in interest rates can be expected to affect the demand for housing. By reducing the burden of debt repayments relative to income, lower interest rates may ease cash-flow constraints and increase borrowing capacity at the margin. This effect applies both to owner-occupiers and investors. 
"Lower interest rates also encourage households to save less and borrow more in the present, thereby shifting consumption from the future. 
"However, prudent buffers on the minimum interest rates that lending institutions use to calculate allowable mortgage loan sizes imply that this effect might be smaller when interest rates are already low. 
<a href="/images/2015/09/10/Screen%20Shot%202015-09-10%20at%201.12.47%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/10/Screen%20Shot%202015-09-10%20at%201.12.47%20PM.png" alt="" width="509" height="500">
"The Australian Prudential Regulation Authority (APRA) has recently provided guidance to lenders that the interest rate used in these serviceability tests should be at least 7% (APRA 2014). The Bank estimates that the lower limits on interest rates used in these calculations are probably binding at present, or close to binding. 
"Thus, households that already planned to borrow as much as lenders would permit would not see an increase in borrowing capacity from a decline in interest rates at present. 
The proportion of the housing stock owned by investors looks to have risen over recent decades, offsetting the decline in the prevalence of public housing. 
The investor share is also likely to have risen a little further over the past few years, as investors have accounted for an increasing share of property purchases since 2012.  
"While the incidence of property investment increases with the level of income, the Household, Income and Labour Dynamics in Australia (HILDA) Survey also suggests that most investor households are in the top two income quintiles. 
"These households hold nearly 80 per cent of all investor housing debt, and appear well placed to service their debt: they typically use less than 25 per cent of their income to service their total property debt, and around half are ahead of schedule on all their mortgage repayments.
It would be counterproductive to try to encourage more home ownership by making it easier for marginal buyers to borrow more. Both for this reason and in the interests of financial system stability, the Bank would not support measures that expanded credit supply to households at the expense of prudent mortgage lending standards. 
The Bank believes that there is a case for reviewing negative gearing, but not in isolation. Its interaction with other aspects of the tax system should be taken into account. 
"The ability to deduct legitimate expenses incurred in the course of earning income is an important principle in Australia’s taxation system, and interest payments are no exception to this. To the extent that negative gearing induces landlords to accept a lower rental yield than otherwise (at least while continued capital gains are expected), it may be helpful for housing affordability for tenants. 
"It is worth noting, however, that the interaction of negative gearing with other parts of the taxation system may have the effect of encouraging leveraged investment in property. 
"In particular, the switch in 1999 from calculating CGT at the full marginal rate on the real gain to calculating it as half the taxpayer’s marginal rate on the nominal gain resulted in capital gain-producing assets being more attractive than income-producing assets for some combinations of tax rates, gross returns and inflation. 
"This effect is amplified if the asset can be purchased with leverage, because the interest deductions are calculated at the full marginal rate while the subsequent capital gains are taxed at half the marginal rate. 
"Since property can usually be purchased using higher leverage than other assets that produce capital gains, property is especially affected by this feature of the tax system. 
"Another change in the landscape since 2003 is that superannuation funds are now able to borrow. Some self-managed superannuation funds have taken advantage of this by adding geared property into the fund portfolio, both residential and, in particular, commercial property. 
"The Bank has previously observed that leverage in superannuation funds may increase vulnerabilities in the financial system and therefore supports limiting the scope for leverage in these funds.
"Additional housing supply ought to dampen housing prices, and more probably will reduce the growth rate of housing prices that occurs in response to increases in demand for housing. 
"There is no example in Australia or internationally where supply expansion on its own generated housing price declines of a similar order of magnitude to the increases in prices seen in some Australian cities in recent years; some academic work on this issue suggests that removing supply constraints in a single population centre might not reduce prices significantly (Aura and Davidoff 2008)." 
<a href="/images/2015/09/10/Screen%20Shot%202015-09-10%20at%201.15.41%20PM.png" target="_blank">Click to enlarge</a>
Housing Debt Serviceability
<img src="/images/2015/09/10/Screen%20Shot%202015-09-10%20at%201.15.41%20PM.png" alt="">
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Tax, regulations should avoid encouraging over-leveraging into property: RBA

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The ACT Government has recommitted to its long term plan to abolish conveyance duty paid on homes.
ACT Chief Minister Andrew Barr, in the submission to the House of Representatives Standing Committee on Economics Inquiry into Home Ownership, highlighted taxes as one of the key issues. 
"We consider that competition in demand for housing from investors is an area for further consideration. We note the benefits of investment in terms of increasing supply, which helps overall affordability. However it can also impact on opportunities for first homebuyers to enter the market.
"The ACT Government's role is outlined in the Affordable Housing Action Plan (AHAP), which commenced in 2007. The Plan, now in Phase III, includes 94 objectives aimed at making housing more affordable for all Canberrans. It has been a key contributor in responding to housing demand and providing a welcome economic boost to the Territory.
"Data from the 2011 Census shows that in the ACT, the rate of the home ownership is 60%, with 87,700 of the 145,500 homes either owned or in the process of being purchased. Of the remaining dwellings, there are around 30,250 private rentals and 9,500 public properties."
As shown in the table, the proportion of investment housing relative to owner-occupied housing is 26%.
<a href="/images/2015/08/19/Screen%20Shot%202015-08-19%20at%203.43.22%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/19/Screen%20Shot%202015-08-19%20at%203.43.22%20PM.png" alt="">
"The Government has a long term plan to abolish conveyance duty paid on homes. This will make homes more affordable to more Canberrans, by significantly reducing the upfront costs for homebuyers. 
"It will also encourage greater turnover of properties, which leads to a better allocation of housing stock."
 
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