<p>Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.</p>

<p>The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.</p>

<p>That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.</p>

<p>The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.</p>

<p>A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.</p>

<p>&nbsp;</p>

<p>Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.</p>

<p>Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.</p>

<p>While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;</p>

<p>Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.</p>


Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

<p><strong>IN BRIEF</strong></p>

<ul>
	<li>
	<p>Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.</p>
	</li>
	<li>
	<p>Construction on The Waterline is complete, with the first residents expected to move in from mid-October.</p>
	</li>
	<li>
	<p>Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.</p>
	</li>
</ul>

<hr />
<p>Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.</p>

<p>Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.</p>

<p>[smartcode_project:default project_id=113271 project_image_fid=366708]</p>

<p>Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.</p>

<p>“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.</p>

<p>“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.</p>

<p>“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”</p>

<p>[smartcode_project:default project_id=113271 project_image_fid=366709]</p>

<p>The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.</p>

<p>The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.</p>

<p>Each residence also has three secure basement car spaces and additional storage.</p>

<p>“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.</p>

<p>“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”</p>

<p><img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" /></p>

<p>Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.</p>

<p>Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.</p>

<p>Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.</p>

<p>“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.</p>

<p>“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.</p>

<p>“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”</p>

<p>Sky Homes are priced from $3.65 million.</p>

<p>Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.</p>

<p>Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.</p>

<p>Harbour Shores is being marketed by Colliers International.</p>

<p data-end="555" data-start="341">[smartcode_project_cta:default project_id=113271]</p>


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

<p data-end="387" data-start="97">St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.</p>

<p data-end="697" data-start="389">The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.</p>

<p data-end="925" data-start="699">Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.</p>

<p data-end="1217" data-start="927">It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.</p>

<p data-end="1217" data-start="927"><img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" /></p>

<p data-end="1538" data-start="1219">The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.</p>

<p data-end="1723" data-start="1540">The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.</p>

<p data-end="2063" data-start="1725">The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.</p>

<p data-end="2063" data-start="1725"><img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" /></p>

<p data-end="2205" data-start="2065">Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.</p>

<p data-end="4244" data-start="4087">The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.</p>

<p data-end="4598" data-start="4246">The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.</p>

<p data-end="4798" data-start="4600">Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.</p>

<p data-end="4798" data-start="4600">The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.</p>

<p data-end="5032" data-start="4800"><img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" /></p>

<p data-end="5486" data-start="5211">&nbsp;</p>

<p data-end="2205" data-start="2065">The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.</p>

<p data-end="2375" data-start="2207">Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.</p>

<p data-end="2712" data-start="2377">Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.</p>

<p data-end="2751" data-start="2714"><em><a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a></em></p>

<p data-end="2865" data-start="2753">Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.</p>

<p data-end="3067" data-start="2867">Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.</p>

<p data-end="3379" data-start="3069">Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.</p>

<p data-end="3379" data-start="3069"><a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station"><em>First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</em></a></p>

<p data-end="3883" data-start="3659">&nbsp;</p>


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

<p data-end="540" data-start="324">When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East<br />
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.</p>

<p data-end="680" data-start="542">The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.</p>

<p data-end="909" data-start="682">The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.</p>

<p data-end="909" data-start="682">[smartcode_project:default project_id=6109 project_image_fid=376073]</p>

<p data-end="1076" data-start="911">Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.</p>

<p data-end="1166" data-start="1078">"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.</p>

<p data-end="1257" data-start="1168">"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."</p>

<p data-end="1257" data-start="1168">[smartcode_project:default project_id=6109 project_image_fid=376072]</p>

<p data-end="1406" data-start="1259">The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.</p>

<p data-end="1475" data-start="1408">For Palumbo, the project also marks a return to familiar territory.</p>

<p data-end="1671" data-start="1477">The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.</p>

<p data-end="1726" data-start="1673">"The opportunity emerged, and we moved to secure the site," Palumbo said.</p>

<p data-end="1874" data-start="1728">"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.</p>

<p data-end="2025" data-start="1876">"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.</p>

<p data-end="2111" data-start="2027">"Now we're on the market and those changes have really resonated with local buyers."</p>

<p data-end="2225" data-start="2113">That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.</p>

<p data-end="2383" data-start="2227">Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.</p>

<p data-end="2446" data-start="2385">"Local owner-occupiers have always been our market," he said.</p>

<p data-end="2602" data-start="2448">"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."</p>

<p data-end="2602" data-start="2448">[smartcode_project:default project_id=6109 project_image_fid=376068]</p>

<p data-end="2742" data-start="2604">The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.</p>

<p data-end="3013" data-start="2744">South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.</p>

<p data-end="3013" data-start="2744"></p>

<p data-end="3065" data-start="3015">Location has been a major part of the proposition for both buyer cohorts.</p>

<p data-end="3065" data-start="3015">[smartcode_project:default project_id=6109 project_image_fid=376075]</p>

<p data-end="3250" data-start="3067">Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.</p>

<p data-end="3376" data-start="3252">Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.</p>

<p data-end="3516" data-start="3378">Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.</p>

<p data-end="3592" data-start="3518">"There's very few allotments on that side that can be developed," he said.</p>

<p data-end="3714" data-start="3594">"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."</p>

<p data-end="3861" data-start="3716">Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.</p>

<p data-end="4004" data-start="3863">Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.</p>

<p data-end="4145" data-start="4006">Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.</p>

<p data-end="4145" data-start="4006">[smartcode_project:default project_id=6109 project_image_fid=376067]</p>

<p data-end="4273" data-start="4147">The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.</p>

<p data-end="4480" data-start="4275">A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.</p>

<p data-end="4650" data-start="4482">Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.</p>

<p data-end="4785" data-start="4652">The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.</p>

<p data-end="4889" data-start="4787">Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.</p>

<p data-end="5144" data-start="4891">Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.</p>

<p data-end="5305" data-start="5146">He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.</p>

<p data-end="5378" data-start="5307">"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.</p>

<p data-end="5495" data-start="5380">"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."</p>

<p data-end="5650" data-start="5497">Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.</p>

<p>[smartcode_project_cta:default project_id=6109]</p>

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

<p>Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.</p>

<p>The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.</p>

<p><a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.</p>

<p>The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.</p>

<p>The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.</p>

<p><img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" /></p>

<p>GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.</p>

<p>"St Lucia is one of those suburbs people do not want to leave," Gray said.</p>

<p>"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.</p>

<p>"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.</p>

<p>"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."</p>

<p>The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.</p>

<p>GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.</p>

<p>"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.</p>

<p>"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.</p>

<p>"The fundamentals here are as strong as anything we have assessed in Brisbane."</p>

<p><img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" /></p>

<p>Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.</p>

<p>GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.</p>

<p>The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.</p>

<p>Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.</p>

<p>The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.</p>

<p>Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.</p>

<p>Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.</p>

<hr />
<h2>SILK PROJECT FACTS</h2>

<p>Developer-builder: GRAYA</p>

<p>Project: Silk</p>

<p>Location: 16-18 Sandford Street, St Lucia</p>

<p>Apartments: 22</p>

<p>Built form: 15 levels</p>

<p>Site: 810 sqm riverfront holding</p>

<p>Mix: 16 split-floor and six full-floor residences</p>

<p>Status: Development approved</p>

<p>Next step: Construction planning underway</p>

<p>[smartcode_project_cta:default project_id=152168]</p>


GRAYA greenlit for riverfront St Lucia apartment development, Silk

House Prices

<html><body>
<p class="caption">GUEST OBSERVER</p>
<div class="WordSection1">
<p>As expected the RBA left interest rates on hold at 1.5 percent following its March meeting, for the seventh month in a row.</p>
<p>Apart from removing references to soon to be released economic forecasts and the December quarter CPI data and adding in some comments relating to December quarter GDP growth there was hardly any change in the post meeting Statement.</p>
<p>The RBA remains more confident regarding global growth, sees Australian economic growth as okay, regards the labour market as being mixed, sees a gradual rise in underlying inflation and continues to see conditions in the housing market as varying considerably across the country.</p>
<p>As a result it remains comfortably on hold regarding interest rates. As noted last week we now expect the RBA to leave rates on hold for the rest of the year. Another rate cut is still possible but it would require another leg down in underlying inflation. That said if the RBA is to do anything on rates this year a cut is more likely than a hike. A rate hike is unlikely until later next year.</p>
<p>While a hotting up in expectations for US rate hikes this year from three hikes to four starting next week has led some to speculate that this may bring forward RBA rate hikes it is noteworthy that the US economy is further into a growth recovery cycle than Australia as evidence by a much tighter labour market and rising wages growth. And since the Global Financial Crisis RBA interest rate moves have diverged from those in the US - with the RBA hiking in 2009 and 2010 when the Fed was on hold and the RBA cutting rates last year when the Fed had commenced a tightening cycle. So just because the Fed hikes does not mean the RBA follows.</p>
<p>One area where the RBA may be signalling something a bit more interesting though is in relation to the housing market where in the February post meeting Statement it noted that “supervisory measure have strengthened lending standards” to now saying that “supervisory measures have contributed to <strong><em>some</em> </strong>strengthening of lending standards” which suggests that the RBA thinks a further tightening in lending standards in relation to lending for housing may be required. Its possibly a sign that more macro prudential measures to slow property market investment may be on the way.</p>
<p>This could take the form of lowering the threshold for banks’ growing total lending to property investors to say 7 percent year on year from 10 percent currently. The RBA’s comments around lending standards are also consistent with recently expressed concerns by the RBA regarding household debt.</p>
<p><em><span><a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank">SHANE OLIVER</a></span> is head of investment strategy and economics and chief economist at <a href="https://www.ampcapital.com.au/home" target="_blank">AMP Capital</a> and is responsible for AMP Capital's diversified investment funds.</em></p>
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RBA possibly signalling that macro prudential controls could do more to slow house prices: Shane Oliver

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<p>I'm not yet clear whether there has been a revision to the Residex house price index methodology.</p>
<div>But, for what it's worth, here are the latest median prices, which have now been disclosed.</div>
<p>The Sydney median house price hit a new high of $1,117,500 in December 2016.<br><br>The Sydney median unit price increased to a new high of $725,500.</p>
<p>Click to enlarge</p>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/10/RESI1.jpg" alt=""></div>
<p><br>The median unit price rose by 7.4 percent in 2016, while the median house price increased by 7.1 percent.</p>
<div>One of the metrics I've been tracking has been the change in Sydney unit prices when priced in Chinese yuan terms. </div>
<div> </div>
<div>As you can see in the chart below, Sydney unit prices have increased by only 15 percent since this cycle began for offshore Chinese buyers. </div>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/10/RESI2.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/10/RESI2.jpg" alt=""></div>
<p> </p>
<div>Rising prices have therefore not been much of a deterrent for Chinese buyers.</div>
<div> </div>
<div>However, regulatory measures have been.</div>
<div> </div>
<div>Upon discussion this week with developers in Brisbane, it's clear that activity from China has, if not halted, slowed up dramatically since last year. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Rates on hold</span></strong></div>
<div> </div>
<div>In other news, there were few surprises in the Reserve Bank's Monetary Policy Decision, whereby the official cash rate was left in hold at 1.50 per cent.</div>
<div> </div>
<div>The RBA expects reasonable growth in the economy in the December quarter, and expects growth to remain at around 3 per cent over the next couple of years. </div>
<div> </div>
<div>The real cash rate now sits just below zero.</div>
<div> </div>
<div class="separator"><a href="https://www.propertyobserver.com.au/images/2017/02/10/REAL%20CASH%20RATE.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/02/10/REAL%20CASH%20RATE.jpg" alt=""></div>
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<div class="separator">
<em>PETE WARGENT is the co-founder of </em><a href="https://allenwargent.com/"><span class="s2"><em>AllenWargent</em></span></a><em> property buyers (London, Sydney) and a best-selling author and </em><a href="https://petewargent.blogspot.com/"><span class="s2"><em>blogger</em></span></a><em>. </em>
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Sydney median prices rose in 2016: Pete Wargent

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<p>GUEST OBSERVER</p>
<p>According to CoreLogic data Australian home price momentum has started the year on a solid note with capital city dwelling prices up 0.7 percent month on month in January or 10.7 percent year on year.<br> <br>As has been the case for the last four years this remains dominated by Sydney and Melbourne where prices are up 1 percent/mom/16 percent/yoy and 0.8 percent/mom/11.8 percent/yoy respectively.</p>
<p>Other cities are far more moderate although Hobart is looking stronger with prices up 1.4 percent/mom/7.8 percent/yoy.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/01/Screen%20Shot%202017-02-01%20at%201.15.27%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="https://www.urban.com.au/images/2017/02/01/Screen%20Shot%202017-02-01%20at%201.15.27%20PM.png" alt=""></p>
<p> </p>
<p>Unit price increases have slowed in Melbourne to 2.8 percent/yoy presumably reflecting supply increases but remain very strong in Sydney at 13.1 percent/yoy.<br> <br>The continuing strength in Sydney and Melbourne property prices coming on the back of a clear acceleration in lending to investors and high auction clearance rates will clearly add to RBA concerns about financial stability. While a surge in housing supply to record levels will act to slow the property market this is still yet to become clearly apparent (except perhaps in Melbourne unit prices).</p>
<p>In the meantime the focus around APRA tightening its macro prudential measures in order to slow investor activity in the Sydney and Melbourne markets, in order to provide the RBA with ongoing necessary flexibility on interest rates, is likely to intensify. This could take the form of APRA lowering its threshold for the stock of lending to investors from the currently level of 10 percent year on year.<br> <br>We remain of the view that the RBA will cut interest rates again but not until May, but this likely to require either some slowing in property price momentum or a further tightening in APRA’s macro prudential policies.<br><br>Meanwhile, the AIG’s manufacturing conditions PMI slipped back to 51.2points in January from a surprisingly strong 55.4 in December. This series is normally very volatile but it remains at a reasonable level and well above the lows of late last year.</p>
<p>SHANE OLIVER is head of investment strategy and economics and chief economist at <a href="https://www.ampcapital.com.au/news/olivers-insights" target="_blank">AMP Capital</a> and is responsible for AMP Capital's diversified investment funds.</p>
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Continuing strength in Australian house prices: Shane Oliver

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<p>GUEST OBSERVER</p>
<p>Here are the six standout charts over the past week covering home prices, Australian All Ordinaries Accumulation index, business investment, planned business investment, Nymex oil price and US 10-year bond yields.</p>
<p><a href="/images/2016/12/05/Screen%20Shot%202016-12-05%20at%201.06.56%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/12/05/Screen%20Shot%202016-12-05%20at%201.06.56%20PM.png" alt="" width="760" height="500"></p>
<p><a href="/images/2016/12/05/Screen%20Shot%202016-12-05%20at%201.07.06%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/12/05/Screen%20Shot%202016-12-05%20at%201.07.06%20PM.png" alt="" width="654" height="214"></p>
<p><em>Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a></em></p>
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The six standout charts for this week: CommSec's Savanth Sebastian

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<div class="column">GUEST OBSERVER </div>
<div class="column"> </div>
<div class="column">If you just looked at the top level results, there wasn’t a lot of good news in the business investment report.</div>
<div class="column"> </div>
<div class="column">Spending recorded a sizable quarterly fall, expectations of future investment are down over 14 percent compared with a year ago and the weakness was across all the states and territories bar Victoria and Queensland.</div>
<div class="column"> </div>
<div class="column">But this is really backward looking, categorising an environment that included the lead up to the Federal Election and Brexit – hardly an environment that would see businesses lift investment plans.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/12/02/Screen%20Shot%202016-12-02%20at%201.20.55%20PM.png" target="_blank">Click to enlarge</a></div>
<div class="column"> </div>
<div class="column"><img src="/images/2016/12/02/Screen%20Shot%202016-12-02%20at%201.20.55%20PM.png" alt=""></div>
<div class="column">
<br>However the main good news or rather glimmer of hope was the lift in expected investment plans compared with last quarter. The fourth estimate for 2016/17 is $106.9 billion, up 1.7 per cent on the third estimate (June quarter). In addition investment plans have lifted substantially in the past six months, up by 17 percent.<br><p>Encouragingly the lift in investment plans over the last couple of quarters, may be a sign of a shift in momentum by the business sector, but it is too early to tell. Certainly the lift in business conditions in recent months may be supportive of a lift in investment plans – especially in light of the surge in commodity prices and improvement in the global economy. No doubt the rebalancing across the economy is also being supported by the slide in the Australian dollar – an outcome that should garner further traction in coming quarters. But as we have seen in the past, business may plan for future investment but then mothball projects if the economic landscape doesn’t improve.</p>
<p><a href="/images/2016/12/02/Screen%20Shot%202016-12-02%20at%201.22.20%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/12/02/Screen%20Shot%202016-12-02%20at%201.22.20%20PM.png" alt=""></p>
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">Business spending looks like continuing to be a weight on Australia’s economic growth performance in the medium term. The Reserve Bank could cut rates again, but it is far from certain that this would have a measurable impact in further lifting business spending. The Reserve Bank is more forward- looking and is likely to maintain its neutral bias on a more upbeat medium term growth outlook.</div>
<div class="column"> </div>
<div class="column">It may be no surprise to see that home prices continue to lift across most capital cities. But what was clearly surprising was the slide in apartment prices across the nation, in particular the outsized 3.2 per cent fall in Melbourne apartment prices. Over the last year there has been a lot of discussion on the anticipated lift in housing supply, with particular concern on inner city Melbourne and Brisbane. And it may just be that this is the first sign of the lift in apartments coming on stream and curtailing price growth.</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/12/02/Screen%20Shot%202016-12-02%20at%201.23.24%20PM.png" target="_blank">Click to enlarge</a></div>
<div class="column"> </div>
<div class="column"><img src="/images/2016/12/02/Screen%20Shot%202016-12-02%20at%201.23.24%20PM.png" alt=""></div>
<div class="column"> </div>
<div class="column">While the housing market is more mixed across the nation, it was encouraging to see some of the resource states seeing a decent lift in prices over November. And the lift in commodity prices may suggest that the mining towns may have come through the worst of the downturn.<br><p>  Overall policymakers will keep a close eye on the housing sector the early part of 2017, and will prefer to see more balanced house price growth across the nation. And in particular a lift in regional house prices would be a positive outcome. Annual growth in home prices across regional centres was just 1.4 per cent over the past 12 months. </p>
<div class="page" title="Page 2">
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<div class="column">
<p>What do the figures show?</p>
<p>Private business investment</p>
<p>Overall: Business investment (spending on buildings and equipment) fell by 4 per cent in the September quarter after falling by 5.2 per cent in the June quarter. Spending on buildings fell by 5.7 per cent in the quarter while spending on equipment fell by 1.9 per cent. Investment is down 13.7 per cent over the year with buildings down by 24.3 per cent while equipment was up by 4.6 per cent.</p>
<p>Sectors: Mining investment fell by 7.2 per cent in the September quarter (ninth straight decline), while manufacturing spending fell by 4.9 per cent, spending by “other selected industries” fell by 1.9 per cent.</p>
<p>States: In seasonally adjusted terms investment fell in six of the eight states and territories in the September quarter. Investment fell the most in Western Australia (down 11.4 per cent), followed by Northern Territory (down 10 per cent), the ACT (down 8.1 per cent), South Australia (down 4.8 per cent), NSW (down 3.5 per cent), and Tasmania (down 0.1 per cent). The only rise was in Victoria (up 3.3 per cent) followed by Queensland (up 2.7 per cent).</p>
<p>Prices: The overall deflator for investment goods fell by 0.3 per cent in the September quarter after falling by 0.5 per cent in the June. The cost of buildings and structures rose by 0.2 per cent while the cost of equipment fell by 0.8 per cent. Over the year, the cost of investment goods fell by 0.5 per cent – the largest fall 41⁄2 years. The cost of buildings rose by 0.9 per cent while the cost of investment equipment fell by 3 per cent.</p>
<p>Forecasts: The fourth estimate for investment in 2015/16 is $106.9 billion, up 1.7 per cent on the third estimate but down 14.3 per cent over the year. Over the last six months, investment expectations have lifted by 17.1 percent.</p>
<p>Home prices</p>
<div class="page" title="Page 3">
<div class="layoutArea">
<div class="column">
<p>The CoreLogic Home Value Index of capital city home prices rose by 0.2 per cent in November and was up 9.3 per cent over the year.</p>
In regional Australia, house prices fell by 0.2 per cent in October and were just 1.4 per cent higher than a year ago. (regional prices cover just houses and data is up to the end of October).</div>
<div class="column">
<br>In capital cities, house prices rose by 0.2 per cent in November while apartment prices fell by 0.1 per cent. House prices were up 9.6 per cent on a year ago and apartments were up by 7.2 per cent.</div>
<div class="column">
<br>The average Australian capital city house price (median price based on settled sales over quarter) was $645,000 and the average unit price was $540,000.</div>
<div class="column"> </div>
<div class="column">Dwelling prices rose in six of the eight capital cities in November: Darwin (up 3.7 per cent), followed by Adelaide (up 2.9 per cent), Hobart (up 0.9 per cent), Sydney (up 0.8 per cent), Perth (up 0.6 per cent), and Brisbane (up 0.4 per cent). Prices fell only in Melbourne (down 1.5 per cent). Dwelling prices in Canberra were unchanged.</div>
<div class="column"> </div>
<div class="column">Home prices were higher than a year ago in seven of the eight capital cities. Prices rose most in Sydney (up 13.1 per cent); followed by Melbourne (up 11.3 per cent), Hobart (up 8.5 per cent); Canberra (up 8.4 per cent); Adelaide (up 4.7 per cent), Brisbane (up 3.9 per cent) and Darwin (up 1.1 per cent). Prices fell in Perth (down by 3.4 per cent).<br><p>Total returns on capital city dwellings in the year to November rose by 13.1 per cent with houses up 13.3 per cent on a year earlier and units up 11.8 per cent.</p>
<p>Performance of Manufacturing</p>
The Performance of Manufacturing index rose by 3.3 points to 54.2 in November. A reading above 50.0 indicates that the sector is expanding. The index had been above 50 for 13 months up until August 2016 – the longest period of expansion since September 2006.<br><p>AIG notes “The expansionary conditions were broad-based, with six of the seven sub-indexes in the Australian PMI indicating expansion in November. The strong lift in new orders (59.5 points) together with solid growth in sales (53.5 points) is promising.”</p>
<p>What is the importance of the economic data?</p>
<p>“Private New Capital Expenditure and Expected Expenditure” is released quarterly by the Bureau of Statistics. The figures show both actual and expected spending by businesses on tangible assets such as new buildings, machinery and office equipment. The figures are obtained after sampling 8,000 private business units.</p>
<p>The CoreLogic Hedonic Australian Home Value Index is based on Australia’s biggest property database. Unlike the ABS Index, which excludes terraces, semi-detached homes and apartments, the CoreLogic Hedonic Index includes all properties. Home prices are an important driver of wealth and spending.</p>
<p>The Australian Industry Group compiles the Performance of Manufacturing Index (PMI) each month. The Australian PMI is the Australian equivalent of the US ISM manufacturing gauge. The PMI is one of the timeliest economic indicators released in Australia. The PMI is useful not just in showing how the manufacturing sector is performing but in providing some sense about where it is heading. The key ‘forward looking’ components are orders and employment.</p>
<p>What are the implications for interest rates and investors?</p>
</div>
</div>
<div class="layoutArea">
<div class="column">The great unwinding of mining investment continues although the lift in commodity prices may result in more of a soft landing in coming quarters.</div>
<div class="column"> </div>
<div class="column">The Chinese economic data remains encouraging, showing that the transition from the industrial sector to household sector remains on track. The manufacturing sector is expanding, while the services sector is clearly the driver taking up any slack.</div>
<div class="column"> </div>
<div class="column">The latest Australian manufacturing data is encouraging, suggesting that the current levels of interest rates and the Australian dollar are working in favour of domestic producers.</div>
<div class="column"> </div>
<div class="column">The Reserve Bank has regularly noted that housing supply will lift over coming years as work is completed on the bevy of new homes – especially apartments. The Reserve Bank looks to be comfortably on the interest rate sidelines over the coming year. </div>
<div class="column"> </div>
<div class="column"><em>Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a></em></div>
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Subdued business investment, healthy home prices: CommSec's Savanth Sebastian

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<p><span>GUEST OBSERVER</span></p>
<p><span>The revised Metropolitan Strategy for Sydney along with the six District Plans contains a 10 percent levy proposal on new housing to fund affordable housing and this could increase the cost of all new housing. </span></p>
<p><span>While there is a lot of good work in the long awaited District Plans for Sydney there is an ominous proposal </span><span>to add yet another levy onto new housing</span><span>. </span></p>
<p><span>The plans use a </span><span>false logic that by requiring developers to provide up to 10 percent of new housing as affordable this will help with </span><span>Sydney’s rapidly escalating house prices. Clearly the cost of giving away 10 percent of new homes will have to be </span><span>distributed a</span><span>cross the other 90 percent of new homes therefore forcing house prices up.</span></p>
<p><span>The Urban Taskforce has presented a better way to create even more affordable housing by allowing </span><span>new projects an increased floor space of 20 percent provided it is for affordable housing. We estimate that this </span><span>could provide 40,000 new affordable homes over the next 10 years.</span></p>
<p><span>The Greater Sydney Commission fact sheet is now targeting 189,100 new homes over 5 years which </span><span>requires an average of 37,820 new homes a year. The highest number of new homes in recent years has been 30,000 last financial year so the most important task the Greater Sydney Commission has is to </span><span>increase housing supply but by adding a new tax the opposite is likely to occur.</span></p>
<p><span>A Greater Sydney Commission Fact Sheet does suggest that the levy would be in areas where some floor space uplift would compensate for the levy but the approach to give away affordable homes under SEPP 70 rather than providing them as low cost rental for ten years as indicated in the Affordable Rental Housing SEPP will certainly impact of the feasibility of future housing development.</span></p>
<p><span>Sydney needs a plan to increase housing supply dramatically and to provide large numbers of affordable </span><span>homes. The Urban Taskforce approach achieves both of these aims.</span><span><br></span></p>
<p><span>The District Plans seem to be fairly general documents with little data on heights or density. There are </span><span>broad jobs and housing targets but the real definition of built form would appear to be delegated to the development of Local Environmental Plans by councils. This could leave certainty in the planning system on hold for a few years particularly as elections for new amalgamated councils are a year off. The new data in the draft District Plans is likely to generate many planning proposals that want to vary existing controls.</span></p>
<p><span>We have a concern that the definitions of District and Strategic Centres now do not include residential accommodation. The Urban Taskforce supports mixed-use urban centres that are activated all the time </span>rather than only being 9 to 5 work environments. With so much focus on providing transport infrastructure to major centres it is important that this investment supports a bustling 24/7 mixed use environment.</p>
</div>
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<div class="layoutArea">
<div class="column">
<p><span>The package of documents does not seem to address the issue of Value Capture that was recently raised by the Federal Government to help fund new infrastructure and this could become another tax on the cost of new homes.</span></p>
<p><span>The Urban Taskforce is keen to work with the Greater Sydney Commission to ensure housing supply is maximised and that quality mixed use urban centres can be achieved.</span></p>
<p><span><em>Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.Vdaart55dFI" target="_blank">here</a>.</em></span></p>
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Proposed levies in Metro Sydney Plan could increase housing costs: Chris Johnson

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<p>Mullewa is the cheapest suburb to purchase a house across Australia, according to Investar’s latest market report.</p>
<p>The property investment firm states that the median price for a house in Mullewa is $60,000.</p>
<p>Mullewa is a town in the Mid West region of Western Australia, 450 kilometres north of Perth and 98 kilometres east-northeast of Geraldton.</p>
<p>It is the gateway to Wildflower country.</p>
<p>Its affordable pricing is followed by Norseman in WA at $65,000 and Andamooka at $75,000 in South Australia.</p>
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="85">
<p>Suburb</p>
</td>
<td valign="top" width="85">
<p>State</p>
</td>
<td valign="top" width="85">
<p>Dwelling type</p>
</td>
<td valign="top" width="85">
<p>Bedrooms</p>
</td>
<td valign="top" width="85">
<p>Median listing price</p>
</td>
</tr>
<tr>
<td valign="top" width="85">
<p>Mullewa</p>
</td>
<td valign="top" width="85">
<p>WA</p>
</td>
<td valign="top" width="85">
<p>House</p>
</td>
<td valign="top" width="85">
<p>3</p>
</td>
<td valign="top" width="85">
<p>$60,000</p>
</td>
</tr>
<tr>
<td valign="top" width="85">
<p>Norseman</p>
</td>
<td valign="top" width="85">
<p>WA</p>
</td>
<td valign="top" width="85">
<p>House</p>
</td>
<td valign="top" width="85">
<p>3</p>
</td>
<td valign="top" width="85">
<p>$65,000</p>
</td>
</tr>
<tr>
<td valign="top" width="85">
<p>Andamooka</p>
</td>
<td valign="top" width="85">
<p>SA</p>
</td>
<td valign="top" width="85">
<p>House</p>
</td>
<td valign="top" width="85">
<p>1</p>
</td>
<td valign="top" width="85">
<p>$75,000</p>
</td>
</tr>
<tr>
<td valign="top" width="85">
<p>Zeehan</p>
</td>
<td valign="top" width="85">
<p>TAS</p>
</td>
<td valign="top" width="85">
<p>House</p>
</td>
<td valign="top" width="85">
<p>3</p>
</td>
<td valign="top" width="85">
<p>$78,500</p>
</td>
</tr>
<tr>
<td valign="top" width="85">
<p> </p>
</td>
<td valign="top" width="85"> </td>
<td valign="top" width="85"> </td>
<td valign="top" width="85"> </td>
<td valign="top" width="85"> </td>
</tr>
</tbody></table>
<p>Mullewa has a four bedroom home at <a href="https://www.realestate.com.au/property-house-wa-mullewa-120578481" target="_blank">68 Jose St</a> (above) that is for sale for $65,000. It last sold at $69,000 in 2006.</p>
<p>Another example would be a three bedroom home at <a href="https://www.realestate.com.au/property-house-wa-mullewa-109081231" target="_blank">8 Main Road</a> (below) that is for sale from $65,000.</p>
<p><span>The fibro residence, on 849 sqm, is </span><span>tenanted at $185 per week, an almost 15 percent gross rental yield.</span></p>
<p><img src="/images/2016/10/22/8%20Main%20Road.jpg" alt=""></p>
<p> </p>
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Australia's cheapest houses - Mullewa's $60,000 offerings: Investar

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<p>Australia's regional areas under now under the spotlight as value growth increases and capital city markets become less affordable.</p>
<p>CoreLogic observations confirmed that with most major regional areas now seeing an increase in home values, demand for housing in the regions is picking up and follows a number of years of being in the doldrums.</p>
<p>As an example, markets such as June quarter top performer, Illawarra, recently recorded its largest annual increase in values for houses at 14.3 percent, and units at 13.9 percent.</p>
<p>The CoreLogic Regional Market Report provided analysis on the performance of Australia’s largest council areas for:</p>
<ul>
<li>NSW: Newcastle &amp; Lake Macquarie, Illawarra, Richmond-Tweed;</li>
<li>VIC: <a href="/expert-insights/buying/median-house-value-rising-faster-than-unit-values-in-geelong-region-corelogic">Geelong</a>, Latrobe-Gippsland;</li>
<li>QLD: Gold Coast, Sunshine Coast, Townsville, Wide Bay, Cairns;</li>
<li>WA: Bunbury.</li>
</ul>
<p>While the Illawarra region recorded the largest annual increase in values for both houses and units, CoreLogic research analyst Cameron Kusher said, “given that the Illawarra is close to Sydney, the result for the regional is likely to be contributing to its strength with some buyers priced out of the Sydney market now looking to this region.”</p>
<p>In contrast, the only regional market to record a fall in values, was Townsville where houses dropped by 4.5 per cent. Consistent with the Townsville result for houses, unit values in the city dropped by -3.7 percent. Unit values were also lower across the regions of Wide Bay at -1.2 percent, and Bunbury at -6.0 per cent.</p>
<p>In NSW, Newcastle and Lake Macquarie, and the Richmond-Tweed regions, saw home values rise by less than 10 per cent compared to stronger levels of growth in the Illawarra region. Transaction activity was lower over the year in two out of the three regions, with Richmond–Tweed showing a year-on-year growth in sales activity.</p>
<p>In Queensland, the two leading lifestyle markets of the Gold Coast and Sunshine Coast were the strongest performing regions across the state over the period, with an increase for both house and unit values.</p>
<p>Transaction activity results were mixed with sales volumes across the Gold Coast remaining steady over the year. However, these were well above the five-year average.</p>
<p>Both the Gold Coast and Sunshine Coast are recording annual rates of growth similar to that in Brisbane indicating rising demand for homes across the South-East Queensland region.</p>
<p>Across the Sunshine Coast, volumes fell over the 12 month period. Townsville, Wide Bay and Cairns followed with median values remaining relatively flat, or falling.</p>
<p>In Victoria, sales activity in Geelong and Latrobe–Gippsland dropped by 2 percent over the year; however median values and rental rates increased over the year. Geelong recorded the strongest performance, with house values rising by 5.6 percent and unit values up 3.4 percent, while across the rental market, advertised rental rates were up 3.0 percent and 3.6 percent respectively.</p>
<p>In Western Australia, the Bunbury region recorded mixed performance over the year. House values rose (+3.0 percent), while unit values fell (-6.0 percent).</p>
<p>CoreLogic research analyst Cameron Kusher said, “Overall, market conditions in Bunbury remained fairly weak over the period and is largely demonstrated by the fact that 14.3 percent fewer homes sold over the year to June 2016 when compared to June 2015.”</p>
<p>“Our latest data points to an increase of value growth in regional markets, particularly those which are located adjacent to capital cities. As people are priced out of certain capital cities, buyers now appear to be looking to these adjacent regions.”</p>
<p>“Home owners in Sydney and Melbourne have seen a substantial rise in housing equity over recent years. Subsequently we are seeing some evidence that these buyers are starting to look for holiday and investment properties in certain regional markets which is also providing an impetus for some of the value growth we are currently seeing,” he said.</p>
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CoreLogic sees house price growth in the regions

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<p><strong> </strong>National dwelling prices rose 1.1 percent in August with home value rises in Sydney and Melbourne leading the nation according to the latest Home value Index from CoreLogic.</p>
<p>Sydney dwelling values increased 1.4 percent month to month with Melbourne dwelling values up 1.5 percent.</p>
<p>Tim Lawless, CoreLogic head of research, said despite a strong month-on-month reading, the pace of annual capital gains has trended lower compared with the 2015 peak in growth conditions, when capital city dwelling values were rising at 11.1 percent per annum.</p>
<p>“The most recent twelve month period has seen dwelling values rise by a lower 7 percent per annum," he said.</p>
<p>"However, the rate of annual growth in Sydney has virtually halved from a recent 18.4 percent peak to the current annual rate of 9.4 percent.</p>
<p>"Similarly, in Melbourne the annual growth trend peaked at 14.2 percent per annum last year and has since tracked back to 9.2 percent per annum over the most recent twelve month period.” </p>
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<p><span>“For </span><span>the remaining capital cities, each city continued to show a modest trend in value appreciation.</span></p>
<p><span>"Signs are emerging that the pace of capital gains may be accelerating across Canberra and Hobart, with dwelling values up 7.6 percent and 6.5 percent respectively over the past twelve months. </span></p>
<p><span>"One year ago, </span><span>Canberra’s </span><span>annual growth rate was negative, at -0.9 percent, while in Hobart, values increased by only 1.5 percent.</span><span><br></span></p>
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<p>“While the annual growth trend is now lower than it was one year ago, the rate of capital gains remain well above other benchmark measures such as inflation, income growth and rents, which is pushing already stretched affordability ratios to new record highs.</p>
<p>He said the August Home Value Index shows a substantial difference between the performance of house and unit values and at a combined capital’s level, house values rose by 7.2 percent over the past twelve months, compared with a 5.5 percent rise in unit values.</p>
<p>“The trend for house value growth outperforming unit values is apparent across most of the capital cities, particularly in Melbourne and Brisbane, where concerns around inner city unit oversupply are mounting. House values by more than double the rate of units over -10 percent the past year in each of Melbourne, Brisbane, Adelaide and Canberra," he said.</p>
<p>“Looking at housing market performance across the broader value segments over the past 12 months, the most affordable suburbs have recorded the greatest value rises, while the most expensive suburbs have seen a more moderate rate of growth." </p>
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Sydney, Melbourne capital gains drive national rise higher in August 2016: CoreLogic

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<div class="column">CommSec chief economist Craig James believes home prices may wane over the coming year as more new homes are completed in Sydney, Melbourne and Brisbane.</div>
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<div class="column">In his latest research note he says nationally, lower priced properties have been outperforming higher-priced properties for the past five months.</div>
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<div class="column">"The housing market remains generally healthy. The key concern is what happens to prices over the next year as more new homes are completed," he said.</div>
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<p>"The lower quartile of properties by value have shown price increases of 9.8 percent over the past year while the upper quartile of properties by value are up just 6.2 percent.</p>
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<p class="x_Bullets"><span><span>"Over the past two months, prices of free-standing houses have risen by 2.2 per cent while apartment prices have edged up just 0.3 per cent. With a lot of apartments being built across the country, the gap between house and apartment prices is likely to widen.</span></span></p>
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<div class="column">"The CoreLogic Home Value Index of capital city home prices rose by 1.1 percent in August and was up 7.0 percent over the year. Back in July, home prices had grown at the slowest annual rate since September 2013 (6.1 per cent).</div>
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<br>"In regional Australia, house prices fell 0.1 per cent in July and were just 1.4 per cent higher than a year ago. (regional prices cover just houses and data is up to the end of July).</div>
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<div class="column">"In capital cities, house prices rose by 1.3 percent in August while apartment prices rose by 0.3 percent. House prices were up 7.2 percent on a year ago and apartments were up by 5.5 percent. "</div>
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