ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

&nbsp;

<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

&nbsp;

There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Joel Robinson

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

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Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.

They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.

The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.
</section>

<section data-element_type="section" data-id="534a164">
Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.

“Melbourne is regaining momentum,"&nbsp;Stevens said.

"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.

“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."

<img alt="Kokoda" data-entity-type="file" data-entity-uuid="9a8de51d-8092-480a-8b7e-e081816692c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-29%20at%208.54.27%E2%80%AFAM.png?VersionId=VRHpV5.6beOu2cieKHWrw3ErMPuVOAuj" />

Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.

Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.

“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”

Kokoda Property will now progress concept design ahead of a future planning process.
</section>

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.

In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.

“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.

"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

[smartcode_project:default project_id=108747 project_image_fid=193023]

Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.

Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.

[smartcode_project:default project_id=108747 project_image_fid=284864]

Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.

Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.

"This is paramount in the current market," Pezet says.

Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.

[smartcode_project:default project_id=108747 project_image_fid=190743]

One of the biggest drawcards to Lagoon has been the size of the apartments.

"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.

"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

Lagoon is set to complete construction in mid-2026.

[smartcode_project_cta:default project_id=108747]

Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

Housing Crash

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EXPERT OBSERVER
A combination of housing values trending lower and sluggish rental conditions, CoreLogic research out today looks at the total investment return trends across Australia’s capital cities and broad regional markets.
Over the 2018-19 financial year, total returns from residential property recorded a fall of -3.3%.
Returns were down from the previous year and it was the only financial year since at least 2005/06 that total residential property returns were negative.
To put that in context, housing returns last year were worse than those recorded during the financial crisis and during the 2010- 12 housing downturn.
The combination of falling values and historically low rental yields have driven total returns into negative territory.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%201.JPG" alt="">
Looking at the national figures in the context of the combined capital cities and combined regional markets shows that returns have reduced over the year across both regions.
However, combined capital city returns have fallen -4.5% while combined regional market returns remained mildly positive at 1.6%.
For the combined capital cities it was the weakest returns on record and the first negative annual return, while across the combined regional markets it was the weakest annual return since 2008-09.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%202.JPG" alt="">
Across NSW, total returns fell over the 2018-19 financial year in both Sydney and regional NSW.
For Sydney, it was the second consecutive financial year in which returns have fallen however, it was a larger -6.7% fall compared to the previous year and the largest fall of any time since 2005-06.
In regional NSW total returns were - 0.5% lower over the past financial year and it was the first time over the period that total returns recorded a decline.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%203.JPG" alt="">
In Vic total returns were lower over the most recent financial year in both Melbourne (-6.0%) and regional Vic (4.5%).
For Melbourne it was the first financial year in which returns were negative since 2011-12 and it was the largest fall in total returns on record.
Although regional Vic total returns remained positive, the market experienced a substantial slowing from the previous year.
Furthermore, it was the slowest growth in total returns for regional Vic since 2011-12 when they increased by 3.5%.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%204.JPG" alt="">
Although total returns throughout the 2018-19 financial year remained positive in Brisbane and regional, Qld there was a substantial reduction in returns across both regions.
Over the year, total returns in Brisbane were recorded at 1.7% the lowest they have been since the 2011-12 financial year and it was the same story in regional Qld with the 3.2% return the lowest since 2011- 12.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%205.JPG" alt="">
Although returns from residential property remained positive over the 2018-19 financial year in SA, both Adelaide and regional SA recorded a slowing of total returns.
Over the year, Adelaide’s total return was 4.1%, which was the smallest return since 2011-12, and down from 6.1% the previous year.
In regional SA, returns slipped from 5.2% the previous year to 4.0%, which was the smallest returns since 2011-12.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%206.JPG" alt="">
Total returns were negative in 2018-19 across WA with both Perth and regional WA recording their largest annual falls in returns on record.
Over the year, total returns in Perth recorded a fall of -5.3% and although returns have fallen over three previous financial years, it was the largest decline on record.
In regional WA, returns declined -5.0%, which was also a larger fall than over any of the three previous financial years in which returns were negative.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%207.JPG" alt="">
Both Hobart and regional Tas maintained positive total returns over the 2018-19 financial year however, it was a significant reduction of returns in Hobart.
Hobart’s return was recorded at 8.1% over the year, down from 17.4% the previous year and its smallest annual return since 2014-15.
In regional TAS the total returns was 11.4%, which was slightly lower than the 13.2% the previous financial year however, returns remained higher than the 10.2% over the 2016-17 financial year.
 <img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%208.JPG" alt="">
Total returns from residential property have softened over the past year across NT.
Darwin recorded a decline in total return of -3.0% over 2018-19 which was a larger fall over the previous year but not quite as large as the -3.6% fall in 2015-16.
In regional NT, total returns were recorded at 7.8% in 2018-19, down from 8.5% over the previous financial year.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%209.JPG" alt="">
Canberra recorded total returns of 6.0% over the most recent financial year.
The total return in Canberra has fallen over the year from 9.4% and the 6.0% return is the lowest since 2013-14. Canberra, along with Adelaide and Hobart are the only capital cities in which total returns have not been negative over any of the financial years shown.
<img src="https://www.urban.com.au/images/2019/7/25/CL%20JULY%2025%20-%2010.JPG" alt="">
With early signs that the rate of decline in housing values has slowed in Sydney and Melbourne and rental yields rising across most regions of the country, the outlook for total returns over the coming year looks a little stronger at a national level.
As always, there will be diversity with most regions of the country outside of Sydney and Melbourne yet to show signs of an improving housing market. We may see an improvement in returns in the two largest capital city housing markets while returns continue to weaken elsewhere.
CAMERON KUSHER is the head of research for the Australian branch of CoreLogic
Kusher regularly posts on the <a href="https://www.corelogic.com.au/news" target="_blank">CoreLogic website</a>.
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ckusher-ujnxiKuFQs

Housing returns slump over the 2018-19 financial year: CoreLogic's Cameron Kusher

jrobinson-rf4aSBido9

Why didn't the housing market crash? CoreLogic

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Internal documents from the Reserve Bank of Australia show its economists modelled house price falls of as much as 15 per cent during the COVID-19 shutdown.
Economists working within the Reserve Bank of Australia also considered the merits of halting established home sales amid the market disruption caused by the pandemic.
Reserve Bank economists considered urging the Federal Government to shut down the real estate industry, "pausing" sales to avoid perceptions of a coronavirus-inspired housing market crash.
In April, economist Nick Garvin wrote to colleagues, warning them the RBA should stop discussing the housing market as if it were operating normally, and calling for a halt — as happens to stock market trading in emergencies. 
"I think it's dangerous for regulators to be reporting on housing prices as though the market is currently functioning," he wrote.
Garvin noted shutting down real estate sales would send a statement that "we're in a different category of situation" and that normal reporting of clearance rates and average prices was "misleading".
"It's become clear that there has been a big drop-off in demand for new housing," wrote assistant governor (economic), Luci Ellis, in notes which were obtained by theABC through a Freedom of Information (FOI) request.
A sharp fall in house prices was forecast in a note on April 18. 
"Housing prices are expected to decline by around 7 per cent over the next year. Prices are expected to remain around 10 per cent lower than at the February Statement over the forecast horizon," it read, putting most of this down to a loss of confidence.
It forecast the fall in house prices could be as little as 2 per cent in the best scenario, "in the downside [worst scenario] prices fall by 15 per cent".
 
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j.ballantyne1990-6AQqhLzZaK

RBA economists modelled 15 percent house price falls amid market shutdown consideration

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The financial year just done was not a pretty one for property investors across Australia.
CoreLogic calculated total returns from residential property saw a fall of 3.3 percent in the 2018-19 financial year. Total investment returns is the value growth and gross rental returns.
Last financial year was the only financial year since at least 2005/06 that total residential property returns were negative.
The average return over the 13 year period was nine percent.
The best year was 2009-10 when the national return was almost 17 percent.
"Housing returns last year were worse than those recorded during the financial crisis and during the 2010-12 housing downturn," Cameron Kusher at CoreLogic noted, adding it was the combination of falling values and historically low rental yields that had driven total returns into negative territory.
Looking at the Sydney figures, it was the second consecutive financial year in which returns have fallen however, it was a larger 6.7 percent fall compared to the previous 2.7 percent fall in 2017-18.
They were the only years to record a fall since 2005-06, with the average Sydney return being 10 percent.
The best year was 2014-15 when the total return was 21 percent.
In regional NSW total returns were 0.5 percent down in the past financial year, the first time total returns recorded a decline in the past 14 years. NSW regional property saw an average eight percent over the extended period.
The combined capitals were down 4.5 percent, while all the rest was up 1.6 percent.
Kusher maintains that with the early signs that the rate of decline in housing values has now slowed and rental yields rising across most regions of the country, the prospect for total returns over the coming year looks a little stronger for some.
Sydney may see an improvement in returns although they may weaken in most of the other capital cities and regions elsewhere.
While the total returns from residential housing are not looking so attractive, residential property is not alone.
Try living off cash!
Outside of compulsory superannuation, property and shares are the two most common ways of building wealth in Australia.
Investors looking for the best place to invest always face a challenging decision, this year as much as ever. 
There are always the push and pull factors of residential property and shares so choosing the right strategy often comes down to investors’ own timeframes and preferences.
There needs to be an understanding the advantages and risks associated with both.
Be aware the ever present debate comparing the returns on shares with the returns on property tends to be seen through the prism of the commentator's bias.
The Australian share market recently hit an all-time high with the All Ords index surpassing its record in November 2007.
Once dividends are allowed for, the Australian share market had actually surpassed its 2007 record high back in 2013.
The Reserve Bank of Australia’s head of domestic markets Marion Kohler noted recently that the Australian sharemarket, once dividends are included, showed an average annual 8.5 per cent return since 1993.
AMP Capital chief economist Shane Oliver noted earlier this month that going through past bull market highs after a long period below can attract investors into the stock market so it could push on for a bit. 
My views that we shall see an exit of some sharemarket gains into the property market. Perhaps not the influx seen in past cycles, but enough to provide a fillip to the depth of property buying interest.
 
 
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jchancellor-FAypfDUnLy

Is there a choice for investors after housing returns slump over the 2018-19 financial year?

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Sydney and Melbourne both saw their median house prices fall in the month January as they both approach 11% annual declines, according to CoreLogic.
Sydney median house price went back a further 1.4% to be 10.9% down annually, while Melbourne's accelerated decline saw its median value drop another 1.7%, making it now 10.6% down annually and closing the gap on the harbour capital every month.
It's the third month in a row that the two capitals have seen declines over the one percent mark.
Click here <a href="https://www.propertyobserver.com.au/images/2019/2/1/CL-decline.jpg" target="_blank">to enlarge</a>.
<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/2019/2/1/CL-decline.jpg" alt="">
The median house price in Sydney now has slipped to $902,000, with Melbourne's at $740,000.
Only 12 months ago Sydney's stood at $1.058 million, and Melbourne's $832,000.
Dwelling prices in the two major property markets dropped 1.3% in Sydney and 1.6% in Melbourne, due to apartments now getting caught up in the downturn (Sydney -1.2%, Melbourne -1.3%).
Click here <a href="https://www.propertyobserver.com.au/images/2019/1/CL-Jan1.jpg" target="_blank">to enlarge</a>.
<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/2019/1/CL-Jan1.jpg" alt="">
Nationally, capital city dwelling values declined 1.2% over the month of January, led by Darwin (-1.7%), then Sydney and Melbourne.
There were losses over the one percent mark in Perth, while Brisbane and Adelaide record small loses.
The heat has even come out of the Hobart market. They saw a 0.2% decline. The median dwelling value in the Tasmanian capital is still 7.4% up annually.
CoreLogic's head of research Tim Lawless said the top quartile in Sydney and Melbourne are suffering the most.
Click here <a href="https://www.propertyobserver.com.au/images/2019/2/1/Dwelling-CL.jpg" target="_blank">to enlarge</a>.
<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/2019/2/1/Dwelling-CL.jpg" alt="">
Weakness across the most expensive quarter of the market is most visible in Melbourne, where values across the top quartile are down 12.4% over the past twelve months and 13.8% lower since peaking.
Sydney’s top quartile of the market is showing a similar trend with values down 10.8% over the past twelve months and 14.6% lower since peaking.
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“The lower valuation brackets have benefitted from higher demand from first home buyers as well as tighter lending conditions for borrowers with higher debt to income ratios which is likely supporting a shift of demand towards lower price points," Lawless said. 
“Although the more affordable valuation brackets across Sydney and Melbourne have seen some resilience to falls early in the decline phase, it’s clear that all segments of the market in Australia’s two largest cities are losing value. 
“We’re seeing most of the large capital cities apart from Sydney and Melbourne showing far less divergence between the valuations brackets, which may be attributable to healthier levels of housing affordability and an absence of stimulus for first home buyers.” 
</div>
</div>
</div>
</div>
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Melbourne's 10.6% annual house price slump now rivals Sydney 10.9%: CoreLogic

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<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/21/700x425%20price%20falls%20or%20crush.jpg" alt="">
2018 has been a difficult year in some of Australia's major property markets, however it has allowed other areas to thrive.
The outlook for Sydney and Melbourne heading into 2019 isn't that optimist from a vendors' perspective, but buyers might be happier if they secure finance, according to a number of economists.
First home buyers are back in the driving seat in certain areas across the county as prices continue to decline.
Enjoy our free e-book on how the property market has faired in 2018 and what the forecasts are for 2019.
{rsform 101}
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Housing Crash

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The latest real estate & off the plan properties & news, delivered to your inbox.

Developments

New apartments

New townhouses

News

The latest real estate & off the plan properties & news, delivered to your inbox.