Australian developer <a href="https://www.apartments.com.au/developers/homecorp">Homecorp</a> has officially launched its $210 million Florence Residences to the market, as demand for coastal and wellness-inspired living across the Gold Coast continues to surge.&nbsp;

Soaring 26-storeys above Cascade Gardens, <a href="https://www.apartments.com.au/new-apartments/florence-residences-24-monte-carlo-avenue-surfers-paradise-qld-4217">Florence Residences</a> will deliver 120 homes paired with a private residents’ only wellness club.

Recent findings from the Global Wellness Institute reveal Australia now ranks fourth globally for wellness real estate, with a third of the country’s wellness market growth coming directly from residential development, making it one of the fastest-growing segments in the sector.&nbsp;

Discerning buyers are increasingly seeking homes that prioritise wellness amenities, connection and lifestyle, a trend born post-pandemic that reflects a renewed focus on living well, not just living comfortably.&nbsp;

[smartcode_project:default project_id=150414 project_image_fid=357949]

“The Gold Coast’s next era of luxury living has arrived and it is putting wellness and community at the centre of design,” said Ron Bakir, CEO and Founder of Homecorp.&nbsp;

“Buyers are looking for a sanctuary - a home that feels like an escape from the everyday, a place to unwind, recharge and connect. At Florence Residences, we have created exactly that: a community where architecture, lifestyle and wellness converge. It is a design philosophy that embraces natural materials, biophilic design and a sense of revitalisation, setting a new benchmark for coastal living on the Gold Coast.”

Florence, inspired by its namesake Italian city,&nbsp;introduces a holistic lifestyle destination within one of the city’s most exclusive coastal and park-side enclaves. Beyond each residence lies a world dedicated to wellbeing and connection, featuring a resort-style rooftop pool, hot and cold plunge pools, spa retreat, state-of-the-art gymnasium, and a yoga and Pilates studio.

[smartcode_project:default project_id=150414 project_image_fid=357946]

The project will also boast social and community-focused spaces, including a resident-only lounge with private dining and a rooftop bar, premium outdoor entertaining areas, a striking hotel-style lobby lounge, generous bike parking, and pet-friendly perks including a heated dog wash.

“Florence Residences has been designed as a home for the future, one that will truly stand the test of time. A place that can be passed down through generations, in a city where lifestyle never compromises. Here - health, longevity and luxury exist in perfect balance,” Bakir added.

Early site works are set to commence in the coming weeks, with construction scheduled to begin in early 2026 and completion anticipated by late 2027.

Prices will begin from $1,249,000.

[smartcode_project_cta:default project_id=150414]

Joel Robinson

Homecorp launches $210 million Florence Residences as demand soars for wellness-inspired living on the Gold Coast

Life in <a href="https://www.apartments.com.au/developments/fitzroy-vic-3065">Fitzroy</a> moves at a distinctly local rhythm - a neighbourhood where cafés open early, parks fill steadily, and everything from art to groceries is found within walking distance.&nbsp;

At the centre of this tightly knit urban fabric, just 150 metres from Brunswick Street’s café's and retail spine, this new address offers direct access to the suburb’s defining amenities while maintaining a sense of residential calm.

<a href="https://www.apartments.com.au/new-apartments/napier-235-fitzroy-235-napier-street-fitzroy-vic-3065">Napier 235</a>, a boutique development from <a href="https://www.apartments.com.au/developers/romano-property-group">Romano Property Group</a>, introduces 14 north-facing residences into one of Melbourne’s most walkable and richly layered enclaves. Surrounded by iconic eateries, leafy gardens, and essential daily services, it situates residents within the full spectrum of Fitzroy’s cultural, culinary, and lifestyle offerings - all just two kilometres from the CBD.

[smartcode_project:default project_id=144904 project_image_fid=3219]

The immediate surroundings read like a curated guide to Melbourne’s culinary highlights: Bentwood café and the Napier Hotel, both local institutions, are just metres from the doorstep. Some of the city’s most acclaimed eateries are within a five to ten minute radius - Marion, Cutler &amp; Co, Lune Croissanterie, Alimentari, and Bar Rosella, to name a few. These venues sit alongside celebrated casual options like Hector’s Deli and Archie’s All Day, offering residents a diverse and constantly evolving dining experience.

For food shopping and specialty retail, the area continues to deliver. Morning Market and Gertrude Grocer offer curated produce and pantry goods, while Meatsmith, The Source Bulk Foods, and Gram Sustainable cater to conscious consumers.&nbsp;

National retailers including Coles and Woolworths ensure grocery needs are met with ease, and boutique outlets like Aesop, Le Labo, and Glou Wine Bar &amp; Shop add texture to the local retail mix.

[smartcode_project:default project_id=144904 project_image_fid=3216]

Public green space is one of Fitzroy’s defining attributes, and Napier 235 is perfectly positioned to take advantage of this. Carlton Gardens and Fitzroy Gardens provide expansive, historic parklands within walking distance.&nbsp;

Edinburgh Gardens, popular with locals for its open lawns and sporting facilities, is also easily accessible. Fitzroy Swimming Pool and the leafy surrounds of the Melbourne Museum further enrich the recreational landscape, while the Melbourne Cricket Ground offers a pedestrian-accessible connection to the city’s sporting calendar.

Transport connectivity is embedded into the daily rhythm of the suburb. Tram access on nearby Brunswick, Smith, and Nicholson Streets provides direct links to the CBD and broader inner-north. Meanwhile, major arterials such as Victoria Parade and Alexandra Parade support quick access by car or bicycle.&nbsp;

[smartcode_project:default project_id=144904 project_image_fid=3217]

Despite this rich offering, Napier Street itself remains a quiet, tree-lined corridor within Fitzroy’s residential grain, providing a sense of retreat from the surrounding activity. This balance of vibrancy and seclusion underpins the appeal of Napier 235, designed by Ewert Leaf with landscape by Florian Wild.&nbsp;

Each residence offers large private terraces and generous internal layouts that connect with the outdoors, while sustainability credentials place the project in the top five per cent of Victorian developments under current planning policy benchmarks.

Napier 235 is now under construction by <a href="https://www.apartments.com.au/builders/ag-constructions">AG Construct</a>. Two-bedroom residences are priced from $1,225,000.

[smartcode_project_cta:default project_id=144904]

Staff Writer

Napier 235 taps into Fitzroy’s lifestyle fabric

Access to high-performing public schools remains one of the strongest, and most measurable, drivers of residential demand in Melbourne’s established suburbs.

As affordability pressures continue to reshape buying decisions, school zoning has increasingly shifted from a secondary preference to a strategic consideration for family buyers.

New 2025 research from Cotality quantifies just how much weight households place on this factor. Across Sydney and Melbourne, families are paying premiums of up to $1.3 million to secure houses within sought-after public school catchments compared with similar homes just outside the boundary. In Melbourne, price gaps in leading school zones have reached as much as $357,000, reinforcing the extent to which access to public education is being capitalised into property values.

This data is reflected in buyer behaviour on the ground. Recent analysis shows some Melbourne families are paying up to 35 per cent more for homes within well-performing public school zones, particularly in tightly held inner and middle-ring suburbs where supply is limited and boundaries are sharply defined.

While the strongest premiums have traditionally been associated with detached housing, the underlying demand drivers, certainty of school access, long-term lifestyle planning, and the rising cost of private education, are increasingly influencing apartment buyers as well.

In suburbs where new residential supply is scarce, apartments located within established school catchments are emerging as one of the few accessible entry points for families prioritising location over land.

Long regarded for its education network, Balwyn remains one of Melbourne’s most tightly-held residential areas, with limited opportunities for new housing, particularly projects that sit squarely within the Balwyn High School catchment, one of the best performing public schools in the area.

The new apartment development&nbsp;<a href="https://www.apartments.com.au/new-apartments/white-weston-balwyn-village-259-281-whitehorse-road-balwyn-vic-3103">White &amp; Weston</a> sits within the sought-after catchment zone, as well as being close to the suburb’s village retail strip and Balwyn Park.

[smartcode_project:default project_id=136850 project_image_fid=343580]

Supermarket giant Coles has teamed up with developer Dimas Property Group to create White &amp; Weston, just 45 large-scale apartments designed by&nbsp;<a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a>. The two-, three-, and four-bedroom apartments, are proving popular with a wide variety of buyers, from young families to professional couples, as well as empty nesters.

While the median house price in Balwyn is touching $3 million, two-bedroom apartments at White &amp; Weston start from $1,325,000, and three-bedroom apartments start from $1,837,000.

On top its affordability relative to houses, buyers, depending on the configuration they choose, can save up to $360,000 by buying off the plan, an added cost which is applicable in the established housing market.

[smartcode_project:default project_id=136850 project_image_fid=343582]

White &amp; Weston apartments have been designed with sustainability at the forefront. They will achieve a&nbsp;minimum seven-star energy rating, through features like double-glazed windows, EV readiness, and whole-of-home energy optimisation aimed at reducing ongoing costs. There is also a 52-week defect liability period in place, and a six-year building guarantee for peace of mind.

Builder Aspekt has already commenced construction of the building, and will complete in early 2027.

[smartcode_project:default project_id=136850 project_image_fid=343583]

Developments like White &amp; Weston highlight how school zoning is reshaping not just prices, but housing typologies within established suburbs. As demand to live inside high-performing public school catchments intensifies, apartments and townhome-style projects are increasingly filling the gap between aspiration and affordability.

The question for buyers is less about whether the school-zone premium exists, the data clearly shows it does, and more about how they choose to absorb it. Paying extra for education access can make sense when weighed against private schooling costs and long-term lifestyle goals.

[smartcode_project_cta:default project_id=136850]

While the median house price in Balwyn is touching $3 million, the two-bedroom apartments at White & Weston range from $1,275,000 to $1.5 million, and the three-bedroom apartments start from $1.7 million.

White & Weston in Balwyn reflects Melbourne's education-driven housing demand

All eyes are on the Brisbane apartment market in 2026, as the Queensland capital continues its bull run in the unit sector.

Buyer confidence remains at an all-time high, with Cotality data showing unit values surged more than 15 per cent in 2025, following 16.6 per cent growth in 2024.

It is becoming increasingly difficult to build in Brisbane, keeping supply constrained and placing further upward pressure on prices. Developers are keen to bring projects to market as quickly as possible, with the Olympics, albeit still six years away, looming large.

Next year promises to be another exciting one for the Brisbane apartment market. It will be another characterized by limited supply, heightened demand, and&nbsp;continued price growth as construction constraints and strong population growth keep competition for new stock intense.

We’ve wrapped up the 10 best apartment developments set to hit the market in 2026 that buyers should look out for.

<h3>Where: South Brisbane 
Who: Mosaic Property Group</h3>

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic Property Group</a> is preparing to launch its Montague Road, South Brisbane development in early 2026.

The owner-occupier focussed building will have 204 two- and three-bedroom apartments across its 37 storeys overlooking the Brisbane River, as well as over&nbsp;2,000 sqm of wellness and lifestyle amenity.&nbsp;

<img alt="Montague" data-entity-type="file" data-entity-uuid="33256aa1-247f-43a1-8135-e8ae16c2d838" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-16%20at%201.54.14%E2%80%AFPM.png?VersionId=LzP3Ytk4UTNDB8x_CE.x.gPbC.3yOtsL" />

Designed by <a href="https://www.apartments.com.au/architects/bureauproberts">bureau^proberts</a> and positioned on one of the last remaining large riverfront sites in South Brisbane, the development aligns with the area’s next phase of renewal as Montague Road transitions from light industrial uses to a high-quality mixed-use river precinct.

<h3>Where: Toowong 
Who: Immerse Projects</h3>

Gold Coast-based <a href="https://www.apartments.com.au/developers/immerse-projects">Immerse Projects</a> is making its Brisbane debut in Toowong. Pending approvals, they will launch their 15-storey mixed-use building on Sylvan Road in 2026.

There will be <a href="https://www.apartments.com.au/new-apartments/22-24-sylvan-road-toowong-qld-4066">88 apartments</a> above activated ground-floor retail and hospitality.&nbsp;

<img alt="First look: Immerse Projects reveals debut Brisbane apartment development in Toowong" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Article%20Feature%20Image%20%28Grid%29_3.png?VersionId=obHZvtKcoN9sil.chyU_YQrZ5iuAtjqQ" />

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the project responds to a mid-rise urban context that has seen little new apartment supply in recent years, despite strong underlying demand driven by proximity to the University of Queensland, transport, and riverfront amenity.&nbsp;

The scheme is positioned as a contemporary addition to the Sylvan Road corridor, with landscaped communal spaces and a focus on connectivity rather than scale.

Read more: <a href="https://www.apartments.com.au/news/qld/first-look-immerse-projects-reveals-debut-brisbane-apartment-development-in-toowong">First look: Immerse Projects reveals debut Brisbane apartment development in Toowong</a>

<h3>The Stanley 
Where: Woolloongabba 
Who: Sarazin</h3>

<a href="https://www.apartments.com.au/developers/sarazin">Sarazin</a>&nbsp;is expected to launch its <a href="https://www.apartments.com.au/new-apartments/the-stanley-woolloongabba-825-stanley-street-woolloongabba-qld-4102">The Stanley</a>&nbsp;development in 2026, one of the most ambitious proposals set to contribute significantly to Woolloongabba’s transformation ahead of the 2032 Olympic Games.&nbsp;

[smartcode_project:default project_id=151722 project_image_fid=356087]

Planned as a two-tower, mixed-use development of 53 and 36 storeys, the project will deliver 447 apartments alongside retail, commercial space, and a major public plaza connecting Stanley and Trafalgar Streets.&nbsp;

Located within the Woolloongabba Priority Development Area and adjacent to The Gabba and Cross River Rail, The Stanley is framed as a catalyst project, blending high-density living with cultural and civic infrastructure, including a proposed STEAMM gallery and garden.&nbsp;

<h3>The Tannery 
Where: West End 
Who: McNab</h3>

Another builder-developer,&nbsp;<a href="https://www.apartments.com.au/developers/mcnab-developments">McNab</a>, will launch its unique West End project in 2026.&nbsp;The Tannery Residences will transform the former Dixon’s Tannery site on Montague Road into a 10-storey, wellness-led residential project that places heritage at its core.&nbsp;

The development will deliver 81 two, three, and four-bedroom apartments, centred around the preserved 19th-century tannery building, which will be repurposed as a communal retreat with extensive health and wellbeing facilities.&nbsp;

<img alt="McNab secures approval to transform West End's Dixon’s Tannery into The Tannery Residences" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/McNab%20The%20Tannery_Render_09.jpg?VersionId=Ucpd19J0ABOpzetZ.BsyYmS_x2N2QV_g" />

Designed with <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker Architects</a>, <a href="https://www.apartments.com.au/landscape-architect/aspect-studios">Aspect Studios</a>, and Tom Mark Henry, the project reflects a broader buyer shift toward character-rich buildings that combine history, amenity, and long-term liveability in tightly held inner-Brisbane locations.

<h3>The Gallery by Graya 
Where: Hamilton 
Who: Graya</h3>

<a href="https://www.apartments.com.au/developers/graya">Graya</a>, yet another builder-developer,&nbsp;is expanding its presence along Hamilton’s Racecourse Road with The Gallery.

Pending approvals to go a little higher than what has been approved, Graya will bring 52 high-end apartments to the undersupplied Hamilton market, above&nbsp;a curated retail precinct.&nbsp;

Designed by bureau^proberts, the project draws on Queensland vernacular architecture, incorporating deep verandahs, landscaped courtyards, and an 800-square-metre rooftop retreat.&nbsp;

[smartcode_project:default project_id=150283 project_image_fid=1821]

Positioned on a full-block site, <a href="https://www.apartments.com.au/new-apartments/the-gallery-by-graya-63-71-racecourse-road-hamilton-qld-4007">The Gallery</a> is intended to act as a local civic anchor, contributing to the ongoing revitalisation of Racecourse Road while catering to owner-occupiers seeking lower-density living close to the river and CBD.

Read more: <a href="https://www.apartments.com.au/news/qld/first-look-exclusive-graya-expands-hamilton-presence-with-the-gallery-apartments">First look exclusive: GRAYA expands Hamilton presence with The Gallery apartments</a>

<h3>Yeerongpilly Green 
Where: Yeerongpilly 
Who: Consolidated Properties Group</h3>

<a href="https://www.apartments.com.au/developers/consolidated-properties">Consolidated Properties Group</a> (CPG) will launch its 25-storey residential tower at <a href="https://www.apartments.com.au/new-apartments/yeerongpilly-green-21-queens-way-yeerongpilly-qld-4105">Yeerongpilly Green</a>&nbsp;in the new year,&nbsp;marking the first high-rise within the evolving riverside precinct.

Designed by <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, the project will deliver 181 apartments, evenly balanced between two- and three-bedroom configurations, each with generous outdoor spaces ranging up to 87 sqm.

A key feature of the proposal is the adaptive reuse of the site’s heritage-listed former Animal Research Institute building, which will be restored and reimagined as a future community or retail venue.

<img alt="CPG" data-entity-type="file" data-entity-uuid="14342886-3be6-409b-bdae-506381832b24" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-16%20at%201.44.44%E2%80%AFPM.png?VersionId=gVAO1co1J4NKYnbp0aIWQtwioATKTFdl" />

Over 2,000 sqm of landscaped communal gardens, along with resident amenities such as a pool, library, and private dining rooms, reflect the precinct’s broader focus on livability and green design.

The tower’s position within walking distance of the upgraded Yeerongpilly station and the 2032 Olympic tennis venue reinforces its appeal to both residents and investors.

<h3>Where: Newstead 
Who Consolidated Properties Group</h3>

CPG is also expected to launch its Newstead project, on one of the last direct riverfront sites in the suburb, next year. They are proposing 235 apartments across a 25-storey tower and an adjoining four-storey riverfront building of just 12 ultra-luxury residences.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and built by <a href="https://www.apartments.com.au/builders/hutchinson-builders">Hutchinson Builders</a>, the project draws on classical Brisbane architecture with enduring materials such as brick and stone.

<img alt="Don O'Rorke's Cons Prop unveils Newstead riverfront apartment plans" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/47Skyring_C1_v3.jpg?VersionId=27j60QR_NOCX1GSEXs5XneHQVZp4ty2k" />

CPG Chairman Don O’Rorke described the vision as a “modern classic” that will stand the test of time.

With panoramic north-facing views across the river to Hamilton Hill and more than 75 apartments capturing river vistas, the development cements Newstead’s reputation as one of Brisbane’s most coveted urban waterfront locations.

Read more: <a href="https://www.apartments.com.au/news/qld/don-ororkes-cons-prop-unveils-newstead-riverfront-apartment-plans">Don O'Rorke's Cons Prop unveils Newstead riverfront apartment plans</a>

<h3>Where: Newstead 
Who: BPG Developments</h3>

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/bpg-developments">BPG Developments</a>&nbsp;will launch&nbsp;its 18-level Newstead apartment tower on Maud Street early in the new year following its recent approval.

Designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, the project will comprise 131 two- and three-bedroom apartments with a wellness-focused rooftop featuring a gym, sauna, plunge pools, and shaded lounging terraces.

A ground-level plaza and retail tenancy will contribute to the precinct’s growing lifestyle offering and activate the street edge.

<img alt="BPG" data-entity-type="file" data-entity-uuid="34ff5c87-b4fc-4005-a613-0008f8629170" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-16%20at%201.48.11%E2%80%AFPM.png?VersionId=UQ4i3BRwPdbhJZDqewZKNWjms8j5UTLU" />

The tower’s material palette and form draw inspiration from the neighbouring heritage-listed Goldsworthy and Perkins Boot Factory, incorporating arched motifs and tactile brickwork that nod to Newstead’s industrial past.

BPG Co-Founder Glen Williams said the decision to focus on the area was driven by the ongoing shortage of new apartments and construction challenges limiting supply.

<h3>Where: New Farm 
Who: Fortis</h3>

<a href="https://www.apartments.com.au/developers/fortis">Fortis</a> is expected to launch its second Brisbane project, one of its largest to date not only in Brisbane but nationally. The New Farm development will deliver <a href="https://www.apartments.com.au/new-apartments/424-bowen-terrace-new-farm-qld-4005">74 apartments and four standalone houses</a> across two low-rise buildings designed by <a href="https://www.apartments.com.au/architects/dko-architecture">DKO Architecture</a>.

The seven-level apartment building will front Moreton Street, while the four houses will address Bowen Terrace, taking advantage of elevated views and the suburb’s established leafy streetscape.

<img alt="Fortis files Bowen Terrace, New Farm apartment plans" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-07-02%20at%2012.45.43%E2%80%AFPM.png?VersionId=kPUTnNlrz4NpkGVcUPyOs14G1nskILyi" />

The project’s architecture embraces subtropical design principles, drawing on the character of traditional Queensland homes through verandahs, bay windows, and deep balconies. A U-shaped configuration surrounds a north-facing courtyard with a pool and wellness zones.

Following three rounds of community consultation, the design was refined to include greater setbacks and deep planting, with heritage assessments confirming minimal impact on the neighbouring Fingal House.

<h3>Where: Newstead 
Who: Frasers Property Australia</h3>

Development giant Frasers will launch its updated Newstead development to the market in 2026, after tweaking the plans for it to be more upmarket.

They will now bring around 70 apartments to the market across <a href="https://www.apartments.com.au/new-apartments/19-chester-street-newstead-qld-4006">two 16-storey buildings</a> on a prime&nbsp;3,016 sqm site on the&nbsp;corner of Chester and Morse Street. There will also be three street-level terraces, a rarity so close to the popular James St retail precinct.

<img alt="Frasers" data-entity-type="file" data-entity-uuid="565ad08a-218d-4a82-849a-0c55d8cea473" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-16%20at%203.04.28%E2%80%AFPM.png?VersionId=RwY2wOfqsXItXztL145VVKsWt9r8yPNQ" />

Frasers Property Development Director Jamisen Rivera said the upscale project felt like a natural progression following the delivery of luxury townhomes and apartments at Hamilton Reach.&nbsp;

“This rare site presented a unique opportunity to blend the blue-chip aspects of&nbsp;<a href="https://www.apartments.com.au/developments/new-farm-qld-4005" target="">New Farm</a>&nbsp;with the urban excitement of Newstead’s thriving scene and is primely positioned to link two of&nbsp;<a href="https://www.apartments.com.au/developments/brisbane-qld" target="">Brisbane</a>’s most iconic precincts, walkable to both James Street and The Gasworks,"&nbsp;Rivera said.

“Carefully curated by our experienced consultant team, the residences are as luxurious as they are diverse, with a mix of two-, three- and four-bedroom apartments designed to maximise the 360-degree views to the CBD,&nbsp;<a href="https://www.apartments.com.au/developments/new-farm-qld-4005" target="">New Farm</a>, North&nbsp;<a href="https://www.apartments.com.au/developments/brisbane-qld" target="">Brisbane</a>&nbsp;and Hamilton Northshore, enhancing the living experience from the inside out.”&nbsp;

Brisbane’s top 10 new apartment developments coming to market in 2026

With just a few units left in its luxury Palm Beach apartment development La Belle,&nbsp;Marquee Development Partners is planning its next.

They are moving down The Esplanade, filing plans for 31 apartments on an amalgamated 1,236 sqm site at&nbsp;<a href="https://www.apartments.com.au/new-apartments/velare-444-448-the-esplanade-palm-beach-qld-4221">444–448 The Esplanade</a>, directly opposite the Palm Beach foreshore.

The family-owned developer, ran by Jacques Winterburn, has had&nbsp;<a href="https://www.apartments.com.au/architects/ellivo-architects">Ellivo Architects</a>&nbsp;design the nine-storey building that will comprise 15 two-bedroom apartments, 15 three-beds, and a four-bedroom penthouse.

<img alt="First look: Marquee Development Partners plans 31-unit beachfront apartment tower in Palm Beach" data-entity-type="file" data-entity-uuid="83c0ffe7-28f1-4ab2-93d2-99ca28f45f15" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/palm%20beach%20da%20podium.png?VersionId=x9pY7kEFJFlZfYa4G4RKtrKQZZ7gPFmZ" />

&nbsp;

A residents' lounge with work from home pods will sit on the first level, as will a gym, an alfresco deck with outdoor kitchen, and a lap pool with adjoining spa.

The building will sit next door to Solmare by Chanine Developments, which is set to launch soon, as well as the Casablanca Palms on the Beach resort.

Marquee is on track to deliver its 11th Gold Coast project, with La Belle slated for completion in late 2026. Only four-bedroom apartments remain in the 75-unit development. Marquee has delivered several central Gold Coast projects around Surfers Paradise and Chevron Island, but in recent years has shifted its focus to the southern end of the coast, completing Palm Beach Residences, Northshore Palm Beach, and SOL and Monterey at Kirra.

&nbsp;

First look: Marquee plots latest Palm Beach apartment development

Home Value

<html><body>
Housing investment in Australia has generally been a successful, largely one-way bet over many years. 
Although this has been the case, home values have fallen in the past, are currently falling in some capital cities and will almost certainly fall again in the future.
As can be evidenced in the accompanying charts, in most instances across combined capital cities, the Index has been rising, in fact from December 1995 to November 2015. Combined capital city home values have increased by a cumulative 330.5% and values fell in 2008 and again between 2011 and 2012. 
During 2008, combined capital city home values fell by -6.1% between March and December. Home values fell by -6.5% between March 2011 and May 2012. 
While the Index shows a certain set of trends, it’s important to remember that it is largely influenced by Sydney and Melbourne. In fact, combined capital city home values have increased by 8.7% over the 12 months to November 2015 however, only Sydney and Melbourne have recorded value growth stronger than that level. Values have also been declining over the past year in both Perth and Darwin.
<a href="/images/2015/12/11/Screen%20Shot%202015-12-11%20at%2010.31.04%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/11/Screen%20Shot%202015-12-11%20at%2010.31.04%20AM.png" alt="">
Over the period from December 1995 to November 1995, all capital cities have seen values increase while each city has seen periods where values fall. Across the cities, the cumulative value increases have been recorded at: 
• 330.1% in Sydney 
• 421.4% in Melbourne 
• 259.4% in Brisbane 
• 261.2% in Adelaide 
• 293.0% in Perth 
• 208.0% in Hobart (from Sep-97) 
• 180.1% in Darwin (from Apr-99) 
• 258.7% in Canberra.
Of all the cities, Melbourne has led by recording the strongest rate of growth over the period followed by Sydney. Growth in Perth has been stronger than in Brisbane, Adelaide and Canberra where cumulative growth has been remarkably similar. While home values have risen significantly in each city, value falls have occurred.
There have been periods where values have fallen in a particular city but not others. As an example, from mid-2004 Sydney values started falling while in other cities, the rate of growth just slowed. Sydney home values fell by - 8.2% between March 2004 and December 2005. They then took until March 2009 to eclipse and remain above March 2004 levels.
Over the past few months we have seen early signs of value falls in the Sydney and Melbourne housing markets. Based on our data, we can see that falls have previously occurred, and will no doubt happen again, however, the question is how large; of course no one knows.
Given that investor activity has been at a record high, building approvals have also hit record highs and record high levels of household leverage there is a possibility that falls could be larger than what we have seen in the past. Note: Adjacent, the table looks at the two most recent periods of decline across the combined capital cities: the financial crisis in 2008 and as the RBA started to lift interest rates in 2011. The data shows the financial crisis saw a short, sharp fall in values and a fairly rapid recovery. The second period saw, in most instances, a much larger decline and a much longer period for recovery. 
<a href="/images/2015/12/11/Screen%20Shot%202015-12-11%20at%2010.26.15%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/11/Screen%20Shot%202015-12-11%20at%2010.26.15%20AM.png" alt="" width="871" height="520">
 
<a href="/images/2015/12/11/Screen%20Shot%202015-12-11%20at%2010.30.04%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/11/Screen%20Shot%202015-12-11%20at%2010.30.04%20AM.png" alt=""> 
Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/author/cameron-kusher/" target="_blank">here</a>. 
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ckusher-ujnxiKuFQs

Home values will certainly fall again: Cameron Kusher

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EXPERT OBSERVER
The decade ending in June 2019 has seen the national median dwelling value rise from $382,650 to $516,710, an annual increase of 3.0%. At the same time, household incomes (according to estimates from the ANU Centre for Social Research and Methods) have risen at the annual pace of 3.1%, up from $59,020 per annum in 2009 to $79,872 in 2019. Over the same period, average mortgage rates (according to RBA statistics) fell from 5.1% in 2009 to 4.1% in June this year.
The wash up from these movements is that housing affordability, based on the ratio of dwelling values to household incomes, is broadly unchanged across Australia and households are generally dedicating less of their income towards servicing a new mortgage.
Nationally, the ratio of dwelling values to household incomes has varied over the past decade, moving through a low of 6.1 in late 2012 to a recent high of 7.0 in early 2018. In June 2019 the ratio was recorded at 6.5 which is equivalent to where it was in 2009.
A ratio of 6.5 simply means the typical Australian household is spending 6.5 times their gross annual household income in order to purchase the typical dwelling. While the national reading is the same as it was ten years ago, five of the eight capital cities and four of the seven non-capital city regions have recorded an improvement in the ratio of dwelling values to household incomes. The lowest ratio can be found in Darwin where the typical household is spending only 3.4 times their gross annual household income to purchase a dwelling (down from 5.6 ten years ago).
While most areas have seen housing values become more affordable relative to incomes, some areas have seen affordability worsen. Sydney, Melbourne and Hobart have seen housing values rise at a faster rate than household incomes which has eroded affordability.
The typical Sydney household is now spending 8.2 times their gross annual household income in order to purchase the median value dwelling, up from 6.6 ten years ago. Melbourne households are spending 7.2 times their annual income (up from 6.4 in 2009) and Hobart households are spending 6.5 times (up from 5.9).
Across the regional areas of Australia, the only areas where the ratio of dwelling values to household incomes has worsened is Regional NSW (6.6 in 2009 / 7.0 in 2019) and Regional Victoria (4.9 in 2009 / 5.6 in 2019). It’s a similar story with mortgage serviceability.
\Despite mortgage rates falling to the lowest level since at least the 1950’s, households in Sydney, Melbourne and Hobart are generally dedicating a larger proportion of their incomes towards servicing a new mortgage than they were in 2009.
Based on the proportion of household income required to service a new 80% LVR mortgage, Sydney households are dedicating 43.7% of their gross annual household income on mortgage repayments compared with 37.7% ten years ago. When mortgage rates were around 9% in early 2008, Sydney households were dedicating a much larger 54.2% to service a mortgage.
Melbourne households are dedicating 38.4% on average to service a new 80% LVR mortgage (up from 36.2% in 2009) and Hobart households spend an average of 34.3% of their income on a new mortgage (33.8% ten years ago). The smallest portion of income dedicated to new loan repayments is in Darwin at just 17.9% of income.
Although housing affordability has worsened relative to ten years ago in Sydney and Melbourne, the decline in home values together with a subtle rise in household incomes and lower mortgage rates has seen affordability and serviceability record a temporary improvement in these areas.
Since June, dwelling values have surged higher while income growth has remained sluggish, implying that the improvement in housing affordability that has been delivered via a fall in home values is now being eroded.
Longer term strategies for improving housing affordability should include both supply and demand side considerations, as well as taxation reform. On the supply side, ensuring infrastructure programs, land release and town planning policies are keeping pace with population growth is important.
On the demand side, population growth drives housing demand, as do stimulus measures such as first home buyer grants and tax concessions.
Incentivising jobs growth and infrastructure improvements in more affordable areas would support a redirection of population growth into areas where housing prices are more achievable.
Removing stamp duty would also help to improve housing affordability and housing mobility by lowering the transactional costs associated with purchasing a home.
TIM LAWLESS is the CoreLogic Head of Research
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tlawless-5VLUrbAk9s

Housing affordability has improved over the past decade across most of Australia: Tim Lawless

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In the recent property market dip, St Albans, Victoria all but avoided the fate of the rest of the Victoria market.
Since 2009 to present day, the value of a house in St Albans has increased by 100%. This is despite a small drop in house values since mid-2018 (seen below).
Apartment prices have seen a similar trend although with smaller growth overall and a less stable median price, according to the <a href="/developments/st-albans-vic-3021">latest data</a>.
<img src="https://www.urban.com.au/images/2019/9/23/ST%20Albans%20data.JPG" alt="">
As of September 2019 the median house price in St Albans is $580,000, double the 2009 value of $290,000.
To learn all you need to know about St Albans, from median asking rents to household composition, <a href="/developments/st-albans-vic-3021">click here</a>. 
As a landlord it is important to check the asking rent trend regularly to ensure you are getting the most value out of your investment.
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j.ballantyne1990-6AQqhLzZaK

What if you bought in St Albans 10 years ago? 100% gain

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EXPERT OBSERVER
What Australians can learn from rising home insurance premiums in New Zealand?
Australia and New Zealand have experienced significant natural disasters in recent years.
The floods in Queensland, earthquakes in Christchurch and Kaikoura as well as bushfires in South Australia highlight just how vulnerable residents can be to these massive unforeseen events and how much they reply on insurance to protect themselves, their properties and their belongings.
When you’re at the whim of Mother Nature, having an appropriate level of home and contents insurance is an absolute necessity.
Nevertheless, living in a hazard capital means insurance comes at an ever-increasing price. We only have to look to Wellington as an example to see how recent regulatory change (following amends to the Earthquake Commission Act) and a more granular approach to risk management have seen insurers re-evaluate the risks they are taking on.
As a consequence, premiums have been steadily rising and this presents a raft of challenges for homeowners across the region. The following synopsis of the changing face of insurance in Wellington could be of interest to you as a fellow Tasman resident, and give an insight into what happens when a market moves from generalised to granular risk based pricing.
As well as being a participant in the sector in my role as insurance commentator for Australian and New Zealand, and leading the NZ insurance business, I’m also a home owner and therefore insurance customer, so I’ve seen firsthand the steady rise in premiums in the past few years. Whilst insurance has always been risk based, the level of granularity of the risk assessment is rapidly changing.
Go back a few years, and risk was assessed using Cresta Zones - large areas made up of adjacent postcodes. But this meant that your risk was assessed the same regardless of whether you were on the side of a hill in Wadestown or on the flat in Tawa.
Tower got the ball rolling with its per property risk-based pricing in April 2018, and last month IAG followed suit.
Whilst the effects of these changes won’t be felt fully for some time yet, until higher renewals start hitting the letterboxes or people move and seek new policies, the media were certainly quick to pick up on disgruntled Tower customers and report the odd extremes where premiums had shot up by tens of thousands for particularly "risky" properties. Whilst examples of $ 12,000, or greater, increases were thrown around, Tower were quick to respond that only 1% of their premiums were rising by more than $ 2,000 per annum.
However, according to Stats NZ household spending on property related insurance has risen from an average of $ 15 a week in 2008 to $ 34 a week in 2018. With the rises in the EQC and Fire Service Levy this year pushing this up this year, but there is no doubt that this will rise again as more risk based premiums come into effect Across other insurers.
In March, IAG hit the headlines, announcing that it would take a "conservative approach to writing new business in Wellington due to the high earthquake risk in that part of the country". This so alarmed Wellington Mayor, Justin Lester that he called for more regulation and an Insurance Forum, saying that insurers have a social responsibility to provide insurance cover that is affordable for all. He also referred to the ACC model and implied we should look at a state run insurance model for property. Maybe we could call it "State Insurance".
Oh. . . wait. I understand the Mayor's concerns, but do insurers have a social responsibility? New Zealand is unique in that it has EQC – a government backed insurer of the first $ 150K of natural hazard damage for any property that holds a domestic policy with Fire Cover.
EQC holds a socially responsible position - for example they decided to run the Canterbury Earthquake response as a centrally managed repair as they believed the social outcome would be better than making cash payouts with the associated risk of price gouging and a free for all for builders.
EQC also charges the same levy for any dwelling anywhere in the country. Private insurers are in a different boat, however. They aren’t subject to a government guarantee and have a corporate responsibility to be financially prudent in their risk appetite and the financial return on that risk.
Whilst insurers do want to provide cover to Kiwis, it's entirely logical to take account of the likely risk at an individual property level. They also have to buy reinsurance on the global market which certainly doesn’t view insurance as a social responsibility – they exist to price and cover risk in return for premiums.
That means that Wellingtonians will begin to pay higher premiums commensurate to the actual level of risk they face. A compounding effect is that insurers also have to hold additional capital reserves or reinsurance to cover the costs of a 1 in 1,000 year event for property within 50km of the Beehive.
Whilst not a new requirement, that's still very real cost of doing business in Wellington, especially with building costs rising by nearly 5% per annum according to the Cordell CHIP Report. It’s not just Wellington, though. It also means that other parts of the country that face risks such as regular flooding, with all indications that the severity and frequency are increasing with climate change, or are on the coast with the increased risk of erosion from storm surge, will also attract higher premiums. In order to retain cover, insurers may opt to provide higher excess for specific events, or exclude them altogether.
If your house has flooded three times in four years, why would any sane business continue to offer cover for future flood events? Even councils are stepping away from commitments to protect homes against the rising tide of climate change and coastal erosion.
Recently the Mayor of Kapiti indicated that they only had a limited responsibility to help over 1,800 coastal homeowners and ultimately they were on their own, commenting on the general costs of coastal protection: "How long can we mount a defence, how much will it cost and who pays? These are the challenging questions now and especially into the future."
 A similar story in the Taranaki where the council won't extend a seawall protecting several homes. Climate change is estimated to bring more severe storm surge events which will further cause issues over insurance cover for coastal properties and many coastal owners may find their stunning beachfront views uninsurable.
Whilst insurers try and operate with social responsibility, they also have financial responsibility as well. As I pointed out to a colleague – would you be happy if your bank was making poor lending decisions that might impact on the amount you pay for your mortgage and the stability of your lender should those loans go bad? Sure, insurers are in the business of covering risk, but like any business they have to ensure they have a sustainable balance between risk and reward.
Aucklanders, of course, may see the benefits of this southwards shift in risk pricing with improved premiums. A friend up there recently switched to a risk based insurer and saved over $ 1,500 in their annual premium for the same cover with the same excess.
So, what does this mean for Kiwis?
Firstly, premiums will continue to rise – that’s a certainty – especially in higher risk areas. Let’s stop trying to be King Canute against the rising tide of higher risk and climate change. Secondly, buyers should consider insurance early on in the home buying process. When you’ve been to an open home and have fallen in love with a house, check out how much insurance cover will be. Jump on an insurer’s website and use CoreLogic’s Cordell Sum Sure to estimate the rebuild cost and get a quote for cover.
Get two or three quotes for comparison. Look at the highest premium and assume that all premiums will rise to that level in the next few years, so factor that in to your budget, along with increasing interest rates. If a property is returning a high premium, but you still want to make it your home, maybe factor the future cost of insurance in to your offer? And definitely make that offer conditional on satisfactory insurance and don’t leave it to the last minute.
Another emerging effect of these changes is that lenders are beginning to consider how these changes might affect them and their risk. If they have a 25 year relationship with the home owner, but the insurer only has a 12 month commitment. Rising premiums and a possible retreat from cover in some areas could certainly affect lenders.
The other question is, how will these changes affect Australia?
Whilst there is certainly a level of risk based pricing here, climate change, which is likely to result in more storms further south, increased storm surge, resulting in more flooding will certainly affect how insurers price risk and what they are prepared to cover.
Added to that, many insurers and brokers operate trans-Tasman and so are clearly impacted by changes across the ditch. That aside, now is as good a time as any to review your cover whichever side of the Tasman you live on, and make sure you’re getting value for money across your home and contents insurance.  
RICHARD DEAKIN is the CoreLogic Head of Insurance
What Australians can learn from rising home insurance premiums in New Zealand? Richard Deakin, CoreLogic Head of Insurance comments: Australia and New Zealand have experienced significant natural disasters in recent years. The floods in Queensland, earthquakes in Christchurch and Kaikoura as well as bushfires in South Australia highlight just how vulnerable residents can be to these massive unforeseen events and how much they reply on insurance to protect themselves, their properties and their belongings. When you’re at the whim of Mother Nature, having an appropriate level of home and contents insurance is an absolute necessity. Nevertheless, living in a hazard capital means insurance comes at an ever-increasing price. We only have to look to Wellington as an example to see how recent regulatory change (following amends to the Earthquake Commission Act) and a more granular approach to risk management have seen insurers re-evaluate the risks they are taking on. As a consequence, premiums have been steadily rising and this presents a raft of challenges for homeowners across the region. The following synopsis of the changing face of insurance in Wellington could be of interest to you as a fellow Tasman resident, and give an insight into what happens when a market moves from generalised to granular risk based pricing. As well as being a participant in the sector in my role as insurance commentator for Australian and New Zealand, and leading the NZ insurance business, I’m also a home owner and therefore insurance customer, so I’ve seen firsthand the steady rise in premiums in the past few years. Whilst insurance has always been risk based, the level of granularity of the risk assessment is rapidly changing. Go back a few years, and risk was assessed using Cresta Zones - large areas made up of adjacent postcodes. But this meant that your risk was assessed the same regardless of whether you were on the side of a hill in Wadestown or on the flat in Tawa. Tower got the ball rolling with its per property risk-based pricing in April 2018, and last month IAG followed suit. Whilst the effects of these changes won’t be felt fully for some time yet, until higher renewals start hitting the letterboxes or people move and seek new policies, the media were certainly quick to pick up on disgruntled Tower customers and report the odd extremes where premiums had shot up by tens of thousands for particularly "risky" properties. Whilst examples of $ 12,000, or greater, increases were thrown around, Tower were quick to respond that only 1% of their premiums were rising by more than $ 2,000 per annum. However, according to Stats NZ household spending on property related insurance has risen from an average of $ 15 a week in 2008 to $ 34 a week in 2018. With the rises in the EQC and Fire Service Levy this year pushing this up this year, but there is no doubt that this will rise again as more risk based premiums come into effect Across other insurers. In March, IAG hit the headlines, announcing that it would take a "conservative approach to writing new business in Wellington due to the high earthquake risk in that part of the country". This so alarmed Wellington Mayor, Justin Lester that he called for more regulation and an Insurance Forum, saying that insurers have a social responsibility to provide insurance cover that is affordable for all. He also referred to the ACC model and implied we should look at a state run insurance model for property. Maybe we could call it "State Insurance". Oh. . . wait. I understand the Mayor's concerns, but do insurers have a social responsibility? New Zealand is unique in that it has EQC – a government backed insurer of the first $ 150K of natural hazard damage for any property that holds a domestic policy with Fire Cover. EQC holds a socially responsible position - for example they decided to run the Canterbury Earthquake response as a centrally managed repair as they believed the social outcome would be better than making cash payouts with the associated risk of price gouging and a free for all for builders. EQC also charges the same levy for any dwelling anywhere in the country. Private insurers are in a different boat, however. They aren’t subject to a government guarantee and have a corporate responsibility to be financially prudent in their risk appetite and the financial return on that risk. Whilst insurers do want to provide cover to Kiwis, it's entirely logical to take account of the likely risk at an individual property level. They also have to buy reinsurance on the global market which certainly doesn’t view insurance as a social responsibility – they exist to price and cover risk in return for premiums. That means that Wellingtonians will begin to pay higher premiums commensurate to the actual level of risk they face. A compounding effect is that insurers also have to hold additional capital reserves or reinsurance to cover the costs of a 1 in 1,000 year event for property within 50km of the Beehive. Whilst not a new requirement, that's still very real cost of doing business in Wellington, especially with building costs rising by nearly 5% per annum according to the Cordell CHIP Report. It’s not just Wellington, though. It also means that other parts of the country that face risks such as regular flooding, with all indications that the severity and frequency are increasing with climate change, or are on the coast with the increased risk of erosion from storm surge, will also attract higher premiums. In order to retain cover, insurers may opt to provide higher excess for specific events, or exclude them altogether. If your house has flooded three times in four years, why would any sane business continue to offer cover for future flood events? Even councils are stepping away from commitments to protect homes against the rising tide of climate change and coastal erosion. Recently the Mayor of Kapiti indicated that they only had a limited responsibility to help over 1,800 coastal homeowners and ultimately they were on their own, commenting on the general costs of coastal protection: "How long can we mount a defence, how much will it cost and who pays? These are the challenging questions now and especially into the future. " A similar story in the Taranaki where the council won't extend a seawall protecting several homes. Climate change is estimated to bring more severe storm surge events which will further cause issues over insurance cover for coastal properties and many coastal owners may find their stunning beachfront views uninsurable. Whilst insurers try and operate with social responsibility, they also have financial responsibility as well. As I pointed out to a colleague – would you be happy if your bank was making poor lending decisions that might impact on the amount you pay for your mortgage and the stability of your lender should those loans go bad? Sure, insurers are in the business of covering risk, but like any business they have to ensure they have a sustainable balance between risk and reward. Aucklanders, of course, may see the benefits of this southwards shift in risk pricing with improved premiums. A friend up there recently switched to a risk based insurer and saved over $ 1,500 in their annual premium for the same cover with the same excess. So, what does this mean for Kiwis? Firstly, premiums will continue to rise – that’s a certainty – especially in higher risk areas. Let’s stop trying to be King Canute against the rising tide of higher risk and climate change. Secondly, buyers should consider insurance early on in the home buying process. When you’ve been to an open home and have fallen in love with a house, check out how much insurance cover will be. Jump on an insurer’s website and use CoreLogic’s Cordell Sum Sure to estimate the rebuild cost and get a quote for cover. Get two or three quotes for comparison. Look at the highest premium and assume that all premiums will rise to that level in the next few years, so factor that in to your budget, along with increasing interest rates. If a property is returning a high premium, but you still want to make it your home, maybe factor the future cost of insurance in to your offer? And definitely make that offer conditional on satisfactory insurance and don’t leave it to the last minute. Another emerging effect of these changes is that lenders are beginning to consider how these changes might affect them and their risk. If they have a 25 year relationship with the home owner, but the insurer only has a 12 month commitment. Rising premiums and a possible retreat from cover in some areas could certainly affect lenders. The other question is, how will these changes affect Australia? Whilst there is certainly a level of risk based pricing here, climate change, which is likely to result in more storms further south, increased storm surge, resulting in more flooding will certainly affect how insurers price risk and what they are prepared to cover. Added to that, many insurers and brokers operate trans-Tasman and so are clearly impacted by changes across the ditch. That aside, now is as good a time as any to review your cover whichever side of the Tasman you live on, and make sure you’re getting value for money across your home and contents insurance.
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What can Australians learn from rising home insurance premiums in New Zealand? Richard Deakin

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Feedback is being sought on the proposed changes to the maximum prices that the Valuer General can charge NSW councils for land valuation services.
The Independent Pricing and Regulatory Tribunal (IPART) last set the maximum prices for the Valuer General’s charges to councils in 2014, which expire on 30 June 2019.
The valuations are used by councils to help calculate rates.
The NSW Premier, Gladys Berejiklian, has asked IPART to set the prices for these services for the next six-year period, from 1 July 2019 to 30 June 2025.
A draft IPART report, released this week, proposes a reduction in the overall revenue that the Valuer General can collect from councils.
The prices are around 5.6% lower than the prices proposed by the Valuer General. 
While some councils will see increases, most would see their bills fall over the next six years under the draft decisions when excluding the effects of inflation, said IPART Chair, Dr Paul Paterson.
“We are proposing to change the way Valuer General’s charges are levied,” Paterson said.
“This would involve moving from a uniform ‘property type’ residential and non-residential pricing approach across NSW to a zonal price structure across four zones – Country, Coastal, Metro and City of Sydney.”
Under the proposed changes, councils would pay $7.42, $6.32, $5.83 and $12.07 per property valuation depending on whether they fall within the Country, Coastal, Metro and City of Sydney zones respectively.
“We consider the zonal price structure better reflects the costs of providing valuations, which can be driven by various factors, including the number and mix of property types, travel distance to conduct valuations, and the number of complex and high risk properties in an area,” Dr Paterson said.
“We note that the Valuer General’s proposal incorporated 2.0% of operating cost savings, resulting from the recent mass valuation procurement process, which we took into account in setting our prices. We also assessed the Valuer General’s other efficient costs and the appropriate allocation of these costs to councils.”
Submissions to IPART’s DraftReport and Draft Determination are invited by 24 April 2019.
Further information is available at <a href="http://www.ipart.nsw.gov.au/" target="_blank">www.ipart.nsw.gov.au</a>.
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jonathanchancellor-7SQnKwU6yx

IPART looks for feedback on Valuer General service price changes

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EXPERT OBSERVATION
Over the past decade there has been a significant change in house and unit values throughout each of Australia’s largest sub-state regions (best known as SA4).
Our findings found that over the 10 years to June 2018, national dwelling values have increased by a cumulative 43.9% with the combined capital cities recording an increase of 52.6% and the combined regional markets recording growth of 16.6%.
Houses values increased by 46.9% nationally over the past decade with combined capital city values growing at a faster pace (56.2%) than the combined regional markets (20.0%). Of the 88 regions SA4 national regions, 73 areas recorded an increase in dwelling values over the past decade with the remaining 15 recording falls.  No SA4 regions of NSW, Vic, Tas, NT or ACT have recorded a decline in values over the past decade.  Meanwhile, a majority of the WA SA4 regions have recorded declines in values over the past decade.
The region to record the greatest increase in house values over the past decade was the South West region of Sydney where values increased 112.9% over the period.  An additional five SA4 regions have seen house values double over the past decade, they were: Parramatta in Sydney (107.4%), Inner South West of Sydney (106.6%), Outer South West of Sydney (103.3%), South East of Melbourne (102.7%) and the West region of Melbourne (102.3%).
The regions of the country in where house values recorded the largest decline over the past decade were: 
<ul>
<li>Outback (North) in WA (-38.3%)</li>
<li>Outback (South) in WA (-34.0%)</li>
<li>Mackay-Isaac-Whitsunday in Qld (-27.3%)</li>
<li>Central Queensland (-26.8%) </li>
<li>Townsville (-23.6%)</li>
</ul>
Only three capital city SA4 regions, all of which are in Perth, have recorded house value falls over the past decade. 
Value growth in NSW and Vic has been substantially stronger than growth elsewhere.  In fact, the regions of NSW (Riverina) and Vic (North West) that recorded the weakest conditions over the decade have seen value growth well in excess of the best performing WA region (Perth-North West).
Outside of NSW and Vic, the regions with the strongest value growth across the remaining states and territories over the decade were: Brisbane-South (30.2%), Adelaide-West (20.3%), Perth-North West (2.2%), South East in Tas (43.9%), Outback in NT (35.2%) and ACT (30.3%).  
Illawarra in NSW recorded the greatest increase in house values of all regional markets over the past decade with values increasing 86.8%. Illawarra recorded the 15th highest rate of house value growth over the past decade nationally. 
The remaining regional markets that recorded relatively large increases in house values were: 
<ul>
<li>Geelong (79.6%)</li>
<li>Southern Highlands </li>
<li>Shoalhaven in NSW (77.9%)</li>
<li>Newcastle and Lake Macquarie (68.6%) </li>
<li>Bendigo in Vic (63.3%)</li>
</ul>
Looking at unit values, nationally throughout the past decade, units increased by 34.2% which is lower than the 46.9% increase in house values.  Unit value growth in the combined capital cities (42.0%) and combined regional housing markets (0.4%) was similarly lower than that for houses (56.2% and 20.0% respectively).
Of the 88 SA4 regions across the country, 53 have recorded an increase in unit values over the past decade with the remaining 35 recording a fall.
The South West region of Sydney recorded the greatest increase in house values of all SA4 regions (112.9%) and it has also recorded the greatest increase in unit values (98.0%).  While seven regions of the country have recorded a doubling of house values over the past decade, not one region has seen unit values double over the same period.  Only the Outer South West region of Sydney (81.0%) and Sydney’s Eastern Suburbs (78.2%), along with Sydney’s South West have recorded decade unit value growth of more than 75%.  By comparison, over the past decade, 24 regions of the country have recorded house value growth in excess of 75%.
Unit values have recorded the largest declines over the past decade in: 
<ul>
<li>Outback (North) WA (-73.3%), Outback (South) WA (-65.7%)</li>
<li>Darling Downs-Maranoa in Qld (-52.9%)</li>
<li>Central Queensland (-45.8%) </li>
<li>Townsville (-45.6%) </li>
</ul>
For the regions where unit values dropped, 15 were capital city regions with the remaining 20 located in regional areas of the country.  The capital city unit markets that recorded the greatest unit value falls were: Darwin (-26.0%), Ipswich in Qld (-23.5%), Logan-Beaudesert in Qld (-22.1%), Moreton Bay-South (-20.5%) and Perth-Inner (-19.5%).
Outside of NSW, the regions of each state and territory to record the greatest increase in unit values over the past decade were: Melbourne-Outer East (63.1%), Outback region of Qld (28.7%), South East region of SA (41.0%), Wheat Belt region of WA (54.9%), South East region of Tas (63.3%), Outback region of NT (28.7%) and ACT (11.6%).
Outside of the capital cities, the regional markets that have recorded the greatest increase in unit values over the past decade were: South East in Tas (63.3%), Illawarra in NSW (60.2%), Far West and Orana in NSW (55.7%), Wheat Belt in WA (54.9%) and Bendigo in Vic (46.2%).
The growth in house and unit values over the past decade has been characterised as very much slanted to strong growth in Sydney and Melbourne and weaker conditions elsewhere.  
While the last 10 years is not predictive of the future, dwelling values are already falling in Sydney and Melbourne and regional markets are currently outperforming capital cities.  
With housing in a downturn in Sydney and Melbourne and affordability stretched, at this point it seems unlikely the returns of the past decade will be replicated over the next 10 years.
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How have house and unit values changed over the past decade?

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Trends across the March quarter showed that capital city home values were 0.9% lower over the March quarter, while values across the regional markets tracked 1.1% higher.
Regional markets are now consistently outperforming the combined capitals, according to CoreLogic head of research Tim Lawless. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/3/CORELOGIC%20DWELLING%20VALUES%20.jpg" alt="">
“The stronger combined regional markets performance continues a trend that began to emerge in October last year where regional housing markets showed an overall improvement in the pace of capital gains while the combined capitals trend softened,” Lawless said.
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Regional markets are now consistently outperforming the combined capitals

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Sydney houses had the highest property growth year-to-date for December 2016, according to CoreLogic's latest report.
The property data firm says that Sydney houses growth increased by 16.7%.
Melbourne houses came second with 15.1% while Hobart houses trailed behind with 11.7%
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="161">
Capital cities – Property type
</td>
<td valign="top" width="114">
2016 growth
</td>
</tr>
<tr>
<td valign="top" width="161">
Sydney – Houses
</td>
<td valign="top" width="114">
16.7%
</td>
</tr>
<tr>
<td valign="top" width="161">
Melbourne – Houses
</td>
<td valign="top" width="114">
15.1%
</td>
</tr>
<tr>
<td valign="top" width="161">
Hobart – Houses
</td>
<td valign="top" width="114">
11.7%
</td>
</tr>
<tr>
<td valign="top" width="161">
Canberra - Houses
</td>
<td valign="top" width="114">
9.6%
</td>
</tr>
<tr>
<td valign="top" width="161">
Sydney – Units
</td>
<td valign="top" width="114">
9.6%
</td>
</tr>
<tr>
<td valign="top" width="161">
Hobart – Units
</td>
<td valign="top" width="114">
6.7%
</td>
</tr>
<tr>
<td valign="top" width="161">
Darwin – Units
</td>
<td valign="top" width="114">
5.7%
</td>
</tr>
<tr>
<td valign="top" width="161">
Canberra - Units
</td>
<td valign="top" width="114">
5.1%
</td>
</tr>
<tr>
<td valign="top" width="161">
Brisbane Gold Coast - Houses
</td>
<td valign="top" width="114">
4.6%
</td>
</tr>
<tr>
<td valign="top" width="161">
Adelaide – Houses
</td>
<td valign="top" width="114">
4.5%
</td>
</tr>
<tr>
<td valign="top" width="161">
Brisbane – Houses
</td>
<td valign="top" width="114">
4.0%
</td>
</tr>
<tr>
<td valign="top" width="161">
Brisbane Gold Coast Units
</td>
<td valign="top" width="114">
2.3%
</td>
</tr>
<tr>
<td valign="top" width="161">
Melbourne – Units
</td>
<td valign="top" width="114">
1.7%
</td>
</tr>
<tr>
<td valign="top" width="161">
Adelaide – Units
</td>
<td valign="top" width="114">
1.1%
</td>
</tr>
<tr>
<td valign="top" width="161">
Darwin – Houses
</td>
<td valign="top" width="114">
-0.2%
</td>
</tr>
<tr>
<td valign="top" width="161">
Brisbane – Units
</td>
<td valign="top" width="114">
-0.2%
</td>
</tr>
<tr>
<td valign="top" width="161">
Perth - Units
</td>
<td valign="top" width="114">
-3.2%
</td>
</tr>
<tr>
<td valign="top" width="161">
Perth- Houses
</td>
<td valign="top" width="114">
-4.4%
</td>
</tr>
</tbody></table>
Perth sits at the bottom of the chart for both units and houses with a decline of growth by 3.2% and 4.4% respectively.
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Australia's best to worst property markets in 2016: CoreLogic

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There's big difference in prices between the big two capitals.
Sydney's $920,000 to Melbourne's $665,000 for houses.
Sydney's $690,000 to Melbourne's $495,000 for apartments.
Sydney's price growth was strong across both houses and apartments. 
Detached Sydney house prices were up 10.9 percent compared with units at 9.1 percent highlighting the lively supply/demand dynamic that exists across the Sydney region.
In Melbourne however there is a substantial difference in growth rates between houses and units, with house values up 9.6 percent compared with a 5.2 percent increase in unit values over the past year.
Brisbane’s housing market has shown a even larger spread, with house values up 4.7 percent compared with units which have had a 1.4 percent fall in unit values over the year. 
The capital growth for all capital cities have grown by 0.5 percent per month for all dwellings, according to CoreLogic’s latest report.
Quarterly the capital growth has grown by 2.7 percent with a total return year on year of 11.2 percent.
The biggest growth per month is at Brisbane – Gold Coast with a reported growth of 1.1 percent per month.
<a href="/images/2016/11/01/Table%201A.jpg" target="_blank">Click to enlarge</a>
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<a href="/images/2016/11/01/Table%201B.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/01/Table%201B.jpg" alt="">
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<a href="/images/2016/11/01/Table%201D.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/01/Table%201D.jpg" alt="">
However both Adelaide and Hobart’s capital growth per month have declined with Adelaide experiencing a 2.4 percent fall in capital growth while Hobart experienced a 2.1 percent decline.
Sydney has experienced the highest capital growth in houses for year on year with a reported growth of 10.9% which is followed by Melbourne with a growth of 9.6 percent. Throughout all the capital cities capital growth for houses has increased by 7.7 percent throughout the year.
However for total return year on year Darwin experienced a decline by 1.6% as well as experiencing a fall of 2.4 percent for the year to date capital growth for houses.
The median price that can be expected for a unit in Canberra is $418,500 as although Canberra experienced a monthly decline of 0.7 percent in unit capital growth overall for the entire year they have seen a growth of 8.6 percent.
The cheapest unit can be found in Hobart where the average median price for a unit is $285,000. According to data Hobart has seen a quarterly decline of unit capital growth by 4.5 percent despite a healthy year on year capital growth increase of 8.3 percent.
Similarly in Hobart an investor can expect to have a rental yield of 5.6 percent if they invest in a unit there while for houses one could expect a rental yield of 5.3 percent.
Sydney has the lowest rental yield results with a house only receiving 2.8 percent of its rental yield while for units it is 3.8 percent.
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