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

Joel Robinson

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

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

Sammut secures approval for debut Brisbane apartment development in Toowong

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

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

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

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

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

WM Residences fills gap in Mordialloc townhouse market

House Price Growth

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Sydney's price growth continued through December it seems.
Despite all the distractions, the month saw year to date growth <a href="https://www.corelogic.com.au/research/daily-indices" target="_blank">hit 15%</a>.
There's just a few days left before CoreLogic sign off on 2016 data.
Melbourne too finished strongly with price growth, according to the daily index at 13% plus.
The CoreLogic Daily Home Value Index is part of the suite of housing market indices produced by CoreLogic measuring value changes across the Australian housing market.
The CoreLogic Daily Home Value Index aims to measure daily movements in the value of Australian housing markets.
But rather than relying solely on transacted sale prices to provide a measure of housing market conditions, the CoreLogic Daily Home Value Index is based on a ‘hedonic’ methodology.
<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/corelogic-nov.jpg" alt="">
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jchancellor-FAypfDUnLy

Sydney's annual price growth surpasses 15%: CoreLogic daily index

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The ABS has released its property price index showing a 1.5% rise in home values nationally over the September quarter.
It put the national gain at 3.5% gain <a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/6416.0" target="_blank">over the year</a>.
It reflected a further slight slowing as there was 4.1% annual growth reported in the year to June.
The 3.5 per cent rise through the year was the weakest growth since March quarter 2013 - and a decline from the peak of 10.7 per cent a year ago, according to figures released today by the Australian Bureau of Statistics (ABS).
<a href="/images/2016/12/13/Screen%20Shot%202016-12-13%20at%2012.33.06%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/13/Screen%20Shot%202016-12-13%20at%2012.33.06%20pm.jpg" width="650"> In the September quarter, residential property prices continued to fall in Perth and Darwin, while prices rose in all other capital cities.
Sydney recorded the largest quarterly residential property price growth of all capital cities, with house prices rising 2.9 per cent and attached dwellings 2.1 per cent. Melbourne recorded the strongest through the year growth of 6.9 per cent, followed by Hobart at 6.8 per cent. The total value of Australia's 9.8 million residential dwellings increased $112.1 billion to $6.2 trillion. The mean price of dwellings in Australia is now $631,000.
The mean price of residential dwellings rose $9,000 to $631,000 and the number of residential dwellings rose by 39,300 to 9,755,400 in the September quarter 2016.
<a href="/images/2016/12/13/Screen%20Shot%202016-12-13%20at%2012.33.14%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/12/13/Screen%20Shot%202016-12-13%20at%2012.33.14%20pm.jpg" width="650">
The capital city residential property price indexes rose in Sydney (+2.6%), Melbourne (+1.7%), Adelaide (+0.9%), Brisbane (+0.2%), Canberra (+0.8%) and Hobart (+2.3%) and fell in Perth (-1.6%) and Darwin (-1.2%).
Annually, residential property prices rose in Melbourne (+6.9%), Hobart (+6.8%), Canberra (+5.5%), Sydney (+3.2%), Adelaide (+3.2%) and Brisbane (+3.1%), and fell in Darwin (-7.2%) and Perth (-4.0%).
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Prices up 3.5% nationally: ABS says it's slowest in three years

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The East Coast capital city suburbs with the highest price growth prove that lifestyle options, strong or improving infrastructure, good schools, local jobs or proximity to employment hubs, public transport and a vibrant ‘village’ atmosphere are key factors in driving prices skyward, according to McGrath's latest report.
Figures compiled by CoreLogic RP Data reveal the suburbs with the greatest house and apartment price growth over the 12 months to June 30, 2016.
A key element in the price growth of many suburbs this year has been a lack of stock, which has intensified competition.
In Sydney, Westmead recorded the strongest house price growth for FY2016 at 33.2 percent.
"We attribute this to the $900 million Westmead Hospital redevelopment project currently underway and a growing resident population of well-paid health service professionals," the report stated.
Westmead is also home to an expanding campus of the University of Western Sydney and is situated right next door to Parramatta, Sydney’s second CBD.
Fairlight recorded the strongest apartment price growth at a staggering 46%.
A shortage of stock combined with a large difference between house and apartment prices and the ripple effect from its beachside neighbour, Manly all contributed to this phenomenal price rise.
In Melbourne, St Kilda East house prices rose 35.4 percent due to improved amenities, gentrification and increased demand from buyers priced out of Albert Park, Middle Park and Elwood.
Carlisle Street in Balaclava, a small suburb in the St Kilda East postcode, has been transformed over the past decade into a buzzy café village where locals love to hang out.
There are shops, major supermarkets, schools, the recently upgraded train station and easy access to the city and St Kilda foreshore.
There are beautiful period houses and apartments protected by heritage order. It’s a great place to live and gaining appeal as a destination suburb.
Brighton had the second highest apartment price growth at 27.3%, reflecting demand from downsizers who have lived and loved the location for 30 years and are now selling their family homes and moving into apartments and townhouses in the same area.
<a href="/images/2016/10/28/Top%205%20house%20growth.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/28/Top%205%20house%20growth.jpg" alt="">
In Brisbane, house price growth was greatest in Robertson at 25.6%; while beachside Woody Point on the Redcliffe peninsula achieved the best apartment price growth at 24.2%.
Wilston recorded the third best house price growth at 20.3% over FY2016. Wilston is a highly regarded area with a great café village, excellent schools and spectacular homes – many with city views due to the suburb’s elevated position.
Camp Hill enjoyed the second best apartment price growth at 18.9% due to strong demand from first home buyers.
<a href="/images/2016/10/28/Top%205%20apartment%20growth.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/28/Top%205%20apartment%20growth.png" alt="">
In the nation’s capital, it’s all about O’Connor, which had the highest price growth for both houses at 21.5 percent and apartments at 15.3 percent in FY2016.
O’Connor is close to everything and has a great café and shopping precinct. Families love the tree-lined streets and good sized blocks and it is in the catchment areas for Turner School and Lyneham Primary School. Being walking distance to the CBD and the Australian National University is also a major drawcard for young buyers and investors.
Identifying Price Growth Hot Spots
Macro Factors
• Strong population growth
• Good local employment or access to job hubs
• Gentrification of housing stock
• Growing household incomes
• Lifestyle amenities – cafes, shops, entertainment and recreation
• Schools and catchment zones
• Presence of big retail brands
• Public transport and walkability
Market Factors
• Rising tenant and buyer demand
• Low or falling days on market
• Low or falling vacancy rates
• More auctions and rising clearance rates
• Reduced vendor discounting
• Limited supply of future housing
<a href="/images/2016/10/28/Top%205%20suburbs.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/28/Top%205%20suburbs.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Westmead takes top spot for strongest house price growth in FY16: McGrath

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Victoria’s west has led the way with solid home price growth from Horsham to Geelong, the latest REIV price data shows.
Buyers have been attracted to the surf coast lifestyle in particular, the REIV CEO Geoff White said.
The east of the state, Warragul, Cowes and Bairnsdale has shown strong price growth.
The latest REIV median data shows that while annual growth across the state has been relatively moderate at 2.3 per cent to $348,500, a number of locations are showing far greater increases.
Horsham in western Victoria topped the list for median price growth over the year, increasing almost 20 per cent to a median price of $249,975, Mr White said.
Also making the top five list for median price increases, in the west of the state, were Geelong (up 16.9 per cent to $675,000), Torquay (up 14 per cent to $690,000), and St Leonards (up 13.7 per cent to $426,250).
“The latest research shows that buyers were not only drawn to the west, but largely to locations within commuting distance of Melbourne,” Mr White said. “New infrastructure in the west is enhancing prices.
“The faster train services which have been introduced between Geelong and Melbourne in recent years continue to improve prices in the bayside city.
“And Surf Coast locations, including Torquay, continue to benefit from easy access to the freeway and the Geelong bypass, cutting commuting time into Melbourne significantly.”
Mr White added that the other trend was the significant growth in coastal locations, from Cowes in the east of Victoria to Anglesea in the west.
“Regional Victoria is increasingly attractive to buyers and investors, offering access to quality amenities combined with a relaxed country lifestyle,” he said.
“Continued growth in the Melbourne median house price – which rose three per cent to $740,000 this quarter – also adds to the allure of locations close to Melbourne which are well below the Melbourne median price.”
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td colspan="4" valign="bottom" nowrap width="400">
Top 20 Growth Suburbs (Annual)
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
 
</td>
<td width="210">
Suburb
</td>
<td width="83">
Sep-16 Median
</td>
<td width="83">
Annual Change
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
1
</td>
<td valign="bottom" nowrap width="210">
   HORSHAM
</td>
<td nowrap width="83">
$249,975
</td>
<td nowrap width="83">
19.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
2
</td>
<td valign="bottom" nowrap width="210">
   GEELONG
</td>
<td nowrap width="83">
$675,000
</td>
<td nowrap width="83">
16.9%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
3
</td>
<td valign="bottom" nowrap width="210">
   COWES
</td>
<td nowrap width="83">
$394,500
</td>
<td nowrap width="83">
16.0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
4
</td>
<td valign="bottom" nowrap width="210">
   TORQUAY
</td>
<td nowrap width="83">
$690,000
</td>
<td nowrap width="83">
14.0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
5
</td>
<td valign="bottom" nowrap width="210">
   ST LEONARDS
</td>
<td nowrap width="83">
$426,250
</td>
<td nowrap width="83">
13.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
6
</td>
<td valign="bottom" nowrap width="210">
   WARRAGUL
</td>
<td nowrap width="83">
$365,000
</td>
<td nowrap width="83">
13.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
7
</td>
<td valign="bottom" nowrap width="210">
   EAST GEELONG
</td>
<td nowrap width="83">
$474,750
</td>
<td nowrap width="83">
12.6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
8
</td>
<td valign="bottom" nowrap width="210">
   ANGLESEA
</td>
<td nowrap width="83">
$685,000
</td>
<td nowrap width="83">
11.4%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
9
</td>
<td valign="bottom" nowrap width="210">
   MERBEIN
</td>
<td nowrap width="83">
$197,500
</td>
<td nowrap width="83">
11.0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
10
</td>
<td valign="bottom" nowrap width="210">
   BAIRNSDALE
</td>
<td nowrap width="83">
$254,500
</td>
<td nowrap width="83">
10.8%
</td>
</tr>
</tbody></table>
</body></html>

Western Victoria leads the way in latest regional medians

<html><body>
Sydney house median price jumped 2.7 percent over the September quarter to a record $1,068,303, Domain calculations suggest.
The growth can be attributed to investor activity, according to Domain Group chief economist Andrew Wilson.
“The growth is raging back into Sydney … we have auction clearance rates in the mid-80 per cent range, and there were two interest cuts in August and May this year,” Dr Wilson said.  
The lower north shore was the strongest Sydney region over the 12 months as it increased by 12 percent in a year however apartments only increased by 1.1 percent to a median of $685,865.
Median houses prices in Australia capitals:
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="64">
 
</td>
<td valign="top" width="149">
September 2016
</td>
<td valign="top" width="106">
June 2016
</td>
<td valign="top" width="106">
September 2015
</td>
</tr>
<tr>
<td valign="top" width="64">
Sydney
</td>
<td valign="top" width="149">
$1,068,303
</td>
<td valign="top" width="106">
$1,039,947
</td>
<td valign="top" width="106">
$1,046,539
</td>
</tr>
<tr>
<td valign="top" width="64">
Melbourne
</td>
<td valign="top" width="149">
$773,669
</td>
<td valign="top" width="106">
$750,407
</td>
<td valign="top" width="106">
$708,816
</td>
</tr>
<tr>
<td valign="top" width="64">
Brisbane
</td>
<td valign="top" width="149">
$521,152
</td>
<td valign="top" width="106">
$525,954
</td>
<td valign="top" width="106">
$505,171
</td>
</tr>
<tr>
<td valign="top" width="64">
Adelaide
</td>
<td valign="top" width="149">
$494,911
</td>
<td valign="top" width="106">
$496,436
</td>
<td valign="top" width="106">
$481,282
</td>
</tr>
<tr>
<td valign="top" width="64">
Perth
</td>
<td valign="top" width="149">
$556,609
</td>
<td valign="top" width="106">
$578,444
</td>
<td valign="top" width="106">
$588,890
</td>
</tr>
<tr>
<td valign="top" width="64">
Canberra
</td>
<td valign="top" width="149">
$661,912
</td>
<td valign="top" width="106">
$659,229
</td>
<td valign="top" width="106">
$630,858
</td>
</tr>
<tr>
<td valign="top" width="64">
Hobart
</td>
<td valign="top" width="149">
$338,703
</td>
<td valign="top" width="106">
$331,207
</td>
<td valign="top" width="106">
$333,619
</td>
</tr>
<tr>
<td valign="top" width="64">
Darwin
</td>
<td valign="top" width="149">
$595,466
</td>
<td valign="top" width="106">
$616,000
</td>
<td valign="top" width="106">
$661,395
</td>
</tr>
<tr>
<td valign="top" width="64">
National
</td>
<td valign="top" width="149">
$752,879
</td>
<td valign="top" width="106">
$740,630
</td>
<td valign="top" width="106">
$727,170
</td>
</tr>
</tbody></table>
 
The inner west was the strongest performer over the quarter despite the lower north shore outpacing every other region this year.
The apartment market has shown signs of slowing down in some areas such as Canterbury Bankstown, the south and the west recording modest price declines in the quarter.
 
Median unit prices in Australian capitals:  
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="64">
 
</td>
<td valign="top" width="149">
September 2016
</td>
<td valign="top" width="106">
June 2016
</td>
<td valign="top" width="106">
September 2015
</td>
</tr>
<tr>
<td valign="top" width="64">
Sydney
</td>
<td valign="top" width="149">
$685,865
</td>
<td valign="top" width="106">
$678,244
</td>
<td valign="top" width="106">
$679,456
</td>
</tr>
<tr>
<td valign="top" width="64">
Melbourne
</td>
<td valign="top" width="149">
$466,779
</td>
<td valign="top" width="106">
$446,609
</td>
<td valign="top" width="106">
$442,348
</td>
</tr>
<tr>
<td valign="top" width="64">
Brisbane
</td>
<td valign="top" width="149">
$367,518
</td>
<td valign="top" width="106">
$378,327
</td>
<td valign="top" width="106">
$382,219
</td>
</tr>
<tr>
<td valign="top" width="64">
Adelaide
</td>
<td valign="top" width="149">
$301,939
</td>
<td valign="top" width="106">
$305,886
</td>
<td valign="top" width="106">
$294,481
</td>
</tr>
<tr>
<td valign="top" width="64">
Perth
</td>
<td valign="top" width="149">
$364,752
</td>
<td valign="top" width="106">
$367,632
</td>
<td valign="top" width="106">
$388,767
</td>
</tr>
<tr>
<td valign="top" width="64">
Canberra
</td>
<td valign="top" width="149">
$403,775
</td>
<td valign="top" width="106">
$398,728
</td>
<td valign="top" width="106">
$409,052
</td>
</tr>
<tr>
<td valign="top" width="64">
Hobart
</td>
<td valign="top" width="149">
$251,073
</td>
<td valign="top" width="106">
$276,544
</td>
<td valign="top" width="106">
$284,417
</td>
</tr>
<tr>
<td valign="top" width="64">
Darwin
</td>
<td valign="top" width="149">
$448,418
</td>
<td valign="top" width="106">
$448,417
</td>
<td valign="top" width="106">
$431,600
</td>
</tr>
<tr>
<td valign="top" width="64">
National
</td>
<td valign="top" width="149">
$536,294
</td>
<td valign="top" width="106">
$529,386
</td>
<td valign="top" width="106">
$529,950
</td>
</tr>
</tbody></table>
The biggest Sydney regional drop was in Canterbury Bankstown where apartments declined by 4.7 percent to a median of $505,000.
Apartments across Sydney have increased by 0.9 percent in the 12 months to September.
</body></html>

Sydney house median peaks over $1m again, but units turning into negative

<html><body>
Last week the Reserve Bank’s (RBA) Head of Financial Stability Luci Ellis gave an interesting speech entitled ‘Property Markets and Financial Stability: What We Know So Far.' 
In my opinion one of the more interesting pieces of analysis in the speech was the analysis of inner city housing prices relative to those in the outer ring.  The chart below was the analysis showed in the speech.
<a href="/images/2015/09/16/Chart-12.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/16/Chart-12.jpg" alt="">
<div class="entry">
Regarding this chart, the speech noted the following key points:
<ul>
<li>Land is two things: it is both space and place. Many have observed that Australia has plenty of the former. But I think the lesson of past booms as well as recent times is that it’s place – location – that really matters. If we think back to boom–bust episodes of the past, whether in land for new development, railways or prime office buildings, in every case you can see people trying to get their hands on the best locations, to take advantage of whatever future economic outcomes they expect. </li>
<li>Location explains far more of the variation in individual property prices than block size (Hansen 2006). Yes, some people like a bigger garden, for privacy or to enjoy in other ways. But being in the ‘right’ kind of neighbourhood with the best amenities, close to commercial centres and other services, is more important to most people, if their willingness to pay for it is any guide.</li>
<li>The physical reality is that the supply of good locations is more or less fixed in the short term. So any sizeable boost to demand cannot be fully absorbed by more supply. The newly built property is simply not the same as the existing stock, because it’s somewhere else. We should therefore not be surprised that strong demand for property does not just change the general price level for that asset, but also its distribution. We can see this in the increase in prices of inner-ring properties relative to those further out, especially in Sydney</li>
</ul>
I agree with this analysis; housing closer to the city centres and closer to major working nodes is more desirable. Also in many capital cities, as we see houses in inner city areas knocked down to make way for higher density development, the underlying land component becomes intrinsically more valuable. Subsequently, the availability of houses in many inner city areas are actually reducing. After I read this section of the speech I decided to go digging in the data to see just how much difference there was in terms of inner city house values and growth in these values over the past year relative to values and growth across the rest of the capital cities.  For the purposes of this analysis we have determined that the inner-city region is within 10 kilometres of each capital city.
<a href="/images/2015/09/16/Chart-22.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/16/Chart-22.jpg" alt="">
The above chart shows that in terms of median house values, the proportion of homes above the city-wide median is substantially higher in inner city areas. Even in a city such as Sydney where housing is less affordable, once you shift more than 10 kilometres from the city centre, only 29.3% of suburbs have a median house value above the city-wide median. In all cities, more than half of all inner city suburbs have a median higher than the city-wide median and all non-inner city areas have less than 50% of suburbs with a median greater than the city-wide median.
While the fact that the cost of housing is higher as you move closer to the city-centre the magnitude of the difference is significant. The other factor to consider is the growth in values in the inner-city versus the rest of the city.  This is where the results change somewhat.
<a href="/images/2015/09/16/Chart-31.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/09/16/Chart-31.jpg" alt="">
Sydney is probably the most interesting result here. Although it has seen the sharpest rises in home values over the past year, suburbs outside of the 10 kilometre inner ring have generally experienced stronger value growth. Of course it is important to recall that Sydney values have been rising for more than three years, and growth, while continuing, has shifted from inner city areas to more affordable outer housing markets. 
Melbourne, Brisbane, Adelaide and Canberra were the only capital cities in which more than half of the inner city suburbs have recorded value growth in excess of that recorded across the cities. Notably each of Perth, Hobart and Darwin are seeing more outer suburbs outperforming than inner suburbs. Of course it should be remembered that home values are now falling in Perth and Darwin and clearly this is impacting the inner city performance. 
The lesson here of course is just because inner city housing is generally more desirable, it doesn’t mean it is immune from falls in the event of a housing market downturn.
Inner city housing markets will likely remain more desirable than those suburbs further afield, due in large to the abundant amenity typically available in these areas.  Although the desire to live in these inner city areas is strong, the reality is that the cost of housing in these locations is restrictive and the supply is relatively short, so many can’t access the housing they want in these areas. 
As some of the examples show, although housing in inner city areas is more expensive, it doesn’t necessarily mean that value growth will consistently outperform growth across the rest of the city. 
Furthermore, as the Perth and Darwin highlights, inner city housing isn’t bullet-proof and in the event of a housing market downturn it has in the past and will potentially in the future also see value declines.
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>.
</div>
</body></html>

ckusher-ujnxiKuFQs

Inner city housing more expensive but growth not strongest: Cameron Kusher

<html><body>
House price growth in the Albany Urban Area in West Australia grew 5.3% over the year, with the new median house price at $389,750, according to new figures from the REIWA.
Albany was named best performing regional centre for property over FY14/FY15, with 456 house sales, 42 unit sales and 200 land sales over the last year.
The Busselton Urban Area was second with a 3.4% growth over the financial year, with the local suburb Abbey recording a median house price of $625,000, up 15.7% over the year. 
REIWA’s Branch Chairman for Albany, Barry Panizza, said the lift in median price over the last year really only brings us back to where we were five years ago, because the market has been weak for that long. 
"However, it’s encouraging to think that we might now be returning to a better position of forward growth and it gives buyers and sellers a bit more confidence," Mr Panizza said.
“Turnover, however, was down 10 per cent on last year which could be attributed to fewer properties on the market and this also helped with price growth.
“I also think there may have been some renewed interest in Albany following the hugely attended ANZAC commemorations over the last 12 months. Thousands of people from all over Australia got to see and experience Albany last October and again in April this year, and it wouldn’t surprise me if that resulted in a few people relocating here or acquiring an investment holiday home for the future,” he said.  
Bayonet Head prices are up 8.8% with a median of $397,000, Mount Melville up 5% to $380,000 and Spencer Park, up 4.9% to $350,000. 
Karratha dropped 32.3% to a median price of $440,000.
 
 Regional Centre results – Year to June 2015 
<table cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="middle">
REGION
</td>
<td valign="middle">
NUMBER OF HOUSE SALES
</td>
<td valign="middle">
PERCENTAGE GROWTH ONE YEAR  
</td>
<td valign="middle">
MEDIAN PRICE 
</td>
</tr>
<tr>
<td valign="middle">
Albany Urban Area
</td>
<td valign="middle">
456
</td>
<td valign="middle">
5.3%
</td>
<td valign="middle">
$389,750
</td>
</tr>
<tr>
<td valign="middle">
Broome Urban Area 
</td>
<td valign="middle">
125
</td>
<td valign="middle">
- 6.5%
</td>
<td valign="middle">
$575,000
</td>
</tr>
<tr>
<td valign="middle">
Greater Bunbury 
</td>
<td valign="middle">
1,097
</td>
<td valign="middle">
1.3%
</td>
<td valign="middle">
$385,000
</td>
</tr>
<tr>
<td valign="middle">
Busselton Urban Area 
</td>
<td valign="middle">
464
</td>
<td valign="middle">
3.4%
</td>
<td valign="middle">
$460,000
</td>
</tr>
<tr>
<td valign="middle">
Carnarvon Urban Area
</td>
<td valign="middle">
36
</td>
<td valign="middle">
0.4%
</td>
<td valign="middle">
$333,750
</td>
</tr>
<tr>
<td valign="middle">
Esperance Urban Area 
</td>
<td valign="middle">
125
</td>
<td valign="middle">
10.7% *
</td>
<td valign="middle">
$387,500
</td>
</tr>
<tr>
<td valign="middle">
Geraldton/Greenough
</td>
<td valign="middle">
412
</td>
<td valign="middle">
-2.6
</td>
<td valign="middle">
$370,000
</td>
</tr>
<tr>
<td valign="middle">
Kalgoorlie/Boulder
</td>
<td valign="middle">
364
</td>
<td valign="middle">
1.5%
</td>
<td valign="middle">
$345,000
</td>
</tr>
<tr>
<td valign="middle">
Karratha Urban Area 
</td>
<td valign="middle">
145
</td>
<td valign="middle">
-32.3
</td>
<td valign="middle">
$440,000
</td>
</tr>
<tr>
<td valign="middle">
Mandurah/Murray
</td>
<td valign="middle">
1,885
</td>
<td valign="middle">
0.7%
</td>
<td valign="middle">
$405,000
</td>
</tr>
<tr>
<td valign="middle">
Northam
</td>
<td valign="middle">
124
</td>
<td valign="middle">
-3%
</td>
<td valign="middle">
$263,000
</td>
</tr>
<tr>
<td valign="middle">
Port Hedland 
</td>
<td valign="middle">
97
</td>
<td valign="middle">
-6.3%
</td>
<td valign="middle">
$750,000
</td>
</tr>
<tr>
<td valign="middle">
REGIONAL WA 
</td>
<td valign="middle">
7,484
</td>
<td valign="middle">
0.8%
</td>
<td valign="middle">
$383,000
</td>
</tr>
</tbody></table>
 
*The varied composition of sales and small sample sizes skewed the result in Esperance so the figure of 10.7% growth in median price should be treated with caution. 
 
</body></html>

jonathanchancellor-7SQnKwU6yx

Western Australia's top ranked suburbs for house price growth: REIWA

<html><body>
Melbourne leads the 20 year house price growth with annualised 8.16% price growth, but Darwin wins over past decade, the latest data from Onthehouse suggests.
It is the same outcome for units too.
The latest statistics reveal that recent annual growth in the Melbourne house market shot up 8.18% in the year to May 2015, which is a dollar increase of about $55,000.
While this is a far cry from the $160,000 value growth in its Sydney counterpart, it represents a rapid increase in values.
Table 1 presents the results for our major markets, for May 2015.
<a href="/images/2015/07/24/Table_1.jpg" target="_blank">Click to enlarge</a>
<a href="/images/2015/07/24/Table_1.jpg" target="_blank"></a> <img src="/images/2015/07/24/Table_1.jpg" alt="" width="747" height="549">
Growth in Melbourne seems to have peaked at the beginning of 2014, with growth gradually trending down from this peak, Eliza Owen at onthehouse reports.
"It is still unclear if growth in Sydney has peaked," she said.
<a href="/images/2015/07/24/G1_Sydney_Melbourne_Growth_Trends.jpg" target="_blank">Click to enlarge</a> - Sydney and Melbourne trends
<img src="/images/2015/07/24/G1_Sydney_Melbourne_Growth_Trends.jpg" alt="" style="line-height: 1.3em;">
 
</body></html>

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