<p><a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.</p>

<p>A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.</p>

<p>Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360965]</p>

<p>“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.</p>

<p>From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.</p>

<p>The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360981]</p>

<p>Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.</p>

<p>A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.</p>

<p>Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360966]</p>

<p>Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.</p>

<p>“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.</p>

<p>Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=149670 project_image_fid=360969]</p>

<p>Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.</p>

<p data-end="8307" data-start="8063">The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.</p>

<p data-end="8543" data-start="8312">“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”</p>

<p data-end="8915" data-start="8548">The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.</p>

<p>The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.</p>

<p>[smartcode_project_cta:default project_id=149670]</p>


Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

<p>A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.</p>

<p>The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.</p>

<p>Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.</p>

<p>The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.</p>

<p>The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.</p>

<p><img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" /></p>

<p>Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.</p>

<p>Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.</p>

<p>The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."</p>

<p>The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.</p>

<p><img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" /></p>

<p>Campbelltown has been starved of new residential developments in the last decade.</p>

<p>The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.</p>


First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

<p>
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</p>

<p>A 60-apartment building nine storeys tall would be a rarity almost anywhere along this stretch of Moreton Bay, but that's exactly what's been lodged for a modest Deception Bay street better known for its single-storey weatherboard homes.</p>

<p><a href="https://www.apartments.com.au/developers/sherlock-construction-homes">Sherlock Construction Homes</a> is seeking to push Deception Bay’s emerging medium-density housing profile higher, lodging plans for a nine-storey apartment building near the suburb’s shopping centre and foreshore.</p>

<p>Dubbed Grosvenor Apartments, the proposal at 14-20 Grosvenor Terrace would replace two detached homes with a new building designed by&nbsp;<a href="https://www.apartments.com.au/architects/mode">Mode Design</a>&nbsp;which would&nbsp;reach nearly 30 metres, well above the site’s mapped 21-metre building height.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="86c21a25-5a97-4ca7-a361-80757137ea5b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20da%20front.png?VersionId=aXIujfvEhH33sLHOEjHFv9Ii6qxSvAF4" /></p>

<p>The apartment mix is weighted toward larger homes, with 14 three-bedroom apartments, 31 two-bedroom apartments and 15 one-bedroom apartments. Six apartment types are spread across the floors, ranging from 66 sqm one-bedroom units through to three-bedroom apartments of 116 sqm, most with private balconies or terraces.</p>

<p>Levels one through seven follow a consistent layout of six to eight apartments per floor arranged around a central lift and stair core, with the top floor, level eight, trading one apartment for a landscaped community breakout space rather than repeating the standard layout below.</p>

<p>Ground floor is dedicated to arrival and services, with a lobby, mailroom and manager's office, alongside 91 car spaces.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="b098bde0-5fe1-4e6c-9601-e5446612e5fc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20podium.png?VersionId=A0hfENMNxSxkfh9Jl6D4WJ9XIraeOukA" /></p>

<p>Mode Design's brief describes a "serene coastal-inspired design blending soft curves, natural textures and light-filled spaces to reflect the relaxed Deception Bay lifestyle."&nbsp;</p>

<p>The material palette leans on white and grey render, timber-look aluminium screening and stacked-brick-look finishes, with hanging greenery and vine planting proposed across balcony edges and ground-level walls.&nbsp;</p>

<p>Balconies feature asymmetrical geometries intended to vary the building's rhythm rather than repeat a single module up the tower, while lush planting is concentrated over the entry and level one balconies to soften the building's base.</p>

<p><img alt="First Look: Sherlock Construction pitches 9-storey tower for low-rise Deception Bay" data-entity-type="file" data-entity-uuid="c05c5693-3e00-42d0-b075-55c36094f4db" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Deception%20da%201.png?VersionId=cMKJgBsBaaVCd2dA5O22SOT38OT_.BPA" /></p>

<p>The design evolved following an April 2025 prelodgement meeting with council. At that stage, the project was conceived as a seven-storey building containing 45 apartments. The subsequently lodged scheme increases the development to nine storeys and 60 apartments while introducing one-bedroom residences to the mix.</p>

<p>Zone Planning argues the additional scale reflects the site's position within an area earmarked for increased residential intensity. The planning report points to the North Lakes-Redcliffe-Moreton Bay Rail corridor strategy, which identifies Deception Bay as a district-level activity centre and supports greater housing choice within urban neighbourhoods.</p>

<p>Market Square Deception Bay, Deception Bay Sports Centre, Deception Bay State School, public transport, community facilities and the Moreton Bay foreshore are all identified within approximately one kilometre of the site, while the property falls within a 400-metre walking catchment of Market Square.</p>

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

<p data-end="587" data-start="368">Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.</p>

<p data-end="778" data-start="589">The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.</p>

<p data-end="907" data-start="780"><a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.</p>

<p data-end="1052" data-start="909">The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.</p>

<p data-end="1311" data-start="1054">The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.</p>

<p data-end="1451" data-start="1313">The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.</p>

<p data-end="1676" data-start="1453">MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.</p>

<p data-end="1908" data-start="1678">Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.</p>

<p data-end="2142" data-start="1910">The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.</p>

<p data-end="2142" data-start="1910"><img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" /></p>

<p data-end="2308" data-start="2144">MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.</p>

<p data-end="2648" data-start="2310">"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.</p>

<p data-end="2797" data-start="2650">"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."</p>

<p data-end="2938" data-start="2799">The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.</p>

<p data-end="3216" data-start="2940">Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.</p>

<p data-end="3325" data-start="3218">Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.</p>

<p data-end="3442" data-start="3327">"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.</p>

<p data-end="3662" data-start="3444">"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."</p>

<p data-end="3818" data-start="3664">MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.</p>

<p data-end="4076" data-start="3820">"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.</p>

<p data-end="4375" data-start="4078">"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."</p>

<p data-end="4503" data-start="4377">Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.</p>

<p data-end="4741" data-start="4505">"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."</p>

<p data-end="4910" data-start="4743">The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.</p>

<p data-end="4951" data-start="4912">MAYD is targeting an early 2027 launch.</p>


First look at MAYD's North Kirra mixed-use precinct

<main data-perf-region="main">
<p data-end="600" data-start="394">Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.</p>

<p data-end="733" data-start="602">But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.</p>

<p data-end="970" data-start="735">Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.</p>

<p data-end="970" data-start="735">[smartcode_project:default project_id=152737 project_image_fid=377679]</p>

<p data-end="1159" data-start="972">The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.</p>

<p data-end="1357" data-start="1161">It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.</p>

<p data-end="3400" data-start="3216">[smartcode_project:default project_id=152737 project_image_fid=377675]</p>

<p data-end="3400" data-start="3216">Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.</p>

<p data-end="1664" data-start="1517">Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.</p>

<p data-end="1826" data-start="1666">Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.</p>

<p data-end="1826" data-start="1666">[smartcode_project:default project_id=152737 project_image_fid=377685]</p>

<p data-end="2045" data-start="1828">Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.</p>

<p data-end="2269" data-start="2047">"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.</p>

<p data-end="2430" data-start="2271">A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.</p>

<p data-end="2606" data-start="2432">It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.</p>

<p data-end="2724" data-start="2608">At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.</p>

<p data-end="2892" data-start="2726">Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.</p>

<p data-end="2892" data-start="2726">[smartcode_project:default project_id=152737 project_image_fid=377680]</p>

<p data-end="3004" data-start="2894">Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.</p>

<p data-end="3214" data-start="3006">"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.</p>

<p data-end="3400" data-start="3216">The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.</p>

<p data-end="3400" data-start="3216">More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.</p>

<p data-end="3670" data-start="3538">&nbsp;</p>

<p data-end="3670" data-start="3538">[smartcode_project_cta:default project_id=152737]</p>

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

Housing Market

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<p>Estate agent John McGrath said there were signs listings were returning to more normalised levels heading into the busy spring period.</p>
<p>He said it should "take the sting" out of a rampant housing market in Sydney.</p>
<p>"I forecast 6-8 per cent growth in Sydney house prices this year. We've seen the majority of that already so I see very little increase in prices going forward," he told Fairfax Media</p>
<p>"I think there will be more significant growth in prices in the big regional locations like the Central Coast, Wollongong and Newcastle."</p>
<p> John McGrath estimated Chinese buyers numbers were down by half compared with a year ago, which he said was "disappointing, but not surprising". </p>
<p>But he said there had been an increase in buyers from other parts of Asia including Vietnam, Indonesia and India.</p>
<p>Estate agent John McGrath announced yesterday he is stepping away from the daily operations of the recently listed McGrath group.</p>
<p> </p>
<p class="p1"><span class="s1"><em>For more real estate traps and tips visit </em><a href="https://realestatetraps.com.au/"><span class="s2"><em>realestatetraps.com.au</em></span></a></span></p>
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j.ballantyne1990-6AQqhLzZaK

John McGrath tips 6 percent price growth for Sydney house prices

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<p>The Australian Government has given The University of Sydney and Lendlease a $3 million grant to undertake a collaborative research project to develop multi-storey housing solutions.</p>
<p>The five year industry-led project received the funding to develop and build prototype housing solutions that use high-tech, renewable materials and advanced manufacturing process.</p>
<p>Lendlease Property CEO Kylie Rampa said the demand for affordable and diverse housing is calling for new housing solutions from industry.</p>
<p>“We aim to bring to market an innovative housing system that is design-led, which will help address affordability issues, while developing advanced manufacturing technologies and techniques for future housing construction."</p>
<p>“The products and industry processes stemming from the project aim to create new jobs, skills, technologies and potentially export opportunities for prefabricated housing to meet the sophisticated needs of homebuyers and builders,” said Kylie Rampa. </p>
<p>University of Sydney associate professor Mathew Aitchison said that the project presents an enormous opportunity to bring innovation to the residential construction market, which has remained largely unchanged in the last 100 years. </p>
<p>“Despite major advances in other manufacturing sectors, innovation in residential construction is lagging.</p>
<p>"This project seeks to drive efficiency and safety benefits and boost Australia’s competitiveness internationally, where we have seen a notable increase in advanced manufacturing in building over the past decade," he said.</p>
<p>“We will focus on developing multi-storey prototype houses that can be adapted for manufacture and customised project to project.</p>
<p>"At the same time, we are looking at ways to reduce risk and waste, while increasing the efficiency, safety, quality, sustainability and diversity of market-ready housing."</p>
<p>The project will develop a range of solutions for the multi-storey housing market that address increasing urban density and residential market demands.</p>
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Research grant awarded to manufacture multi-storey houses

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<p>New REIV data reveals it is still possible for buyers to purchase homes in million dollar suburbs for less than seven-figures – as two-bedroom homes offer an entry point across Melbourne with savings of more than $500,000. </p>
<p>For $929,000 buyers can secure a two-bedroom home in Elsternwick - almost $650,000 less than the suburb’s overall median house price of $1.5 million. </p>
<p>Ivanhoe buyers can secure a smaller home for about $475,000 less than the overall median house price in the suburb.</p>
<p>Buyers can also purchase smaller homes in Essendon, Moonee Ponds and Caulfield South for about $400,000 less than the suburb median. </p>
<p>REIV CEO Geoff White said two-bedroom homes offer a more affordable option in many of Melbourne’s most desirable suburbs. </p>
<p>“These are leafy suburbs where buyers can live alongside their million-dollar neighbours on a boutique budget,” he said.</p>
<p>He added two-bedroom homes are experiencing solid price growth in many of these suburbs.</p>
<table class="t1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td class="td1" valign="middle">
<p class="p2"> </p>
</td>
<td class="td1" valign="middle">
<p class="p2"> </p>
</td>
<td class="td1" valign="middle">
<p class="p3"> </p>
</td>
<td class="td1" colspan="2" valign="middle">
<p class="p3"> </p>
</td>
</tr>
<tr>
<td class="td1" valign="middle">
<p class="p4"><strong>Suburb</strong></p>
</td>
<td class="td1" valign="middle">
<p class="p4"><strong>IMO</strong></p>
</td>
<td class="td1" valign="middle">
<p class="p4"><strong>Median House Price (June 16)</strong></p>
</td>
<td class="td1" valign="middle">
<p class="p4"><strong>2-Bedroom Median Price (June 16)</strong></p>
</td>
<td class="td1" valign="middle">
<p class="p4"><strong>Price Differential </strong></p>
</td>
</tr>
<tr>
<td class="td1" valign="middle">
<p class="p4">ELSTERNWICK</p>
</td>
<td class="td1" valign="middle">
<p class="p4">inner</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$1,577,500</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$929,000</p>
</td>
<td class="td1" valign="middle">
<p class="p6">-$648,500</p>
</td>
</tr>
<tr>
<td class="td1" valign="middle">
<p class="p4">IVANHOE</p>
</td>
<td class="td1" valign="middle">
<p class="p4">inner</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$1,395,000</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$921,000</p>
</td>
<td class="td1" valign="middle">
<p class="p6">-$474,000</p>
</td>
</tr>
<tr>
<td class="td1" valign="middle">
<p class="p4">ESSENDON</p>
</td>
<td class="td1" valign="middle">
<p class="p4">inner</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$1,377,000</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$912,000</p>
</td>
<td class="td1" valign="middle">
<p class="p6">-$465,000</p>
</td>
</tr>
<tr>
<td class="td1" valign="middle">
<p class="p4">MOONEE PONDS</p>
</td>
<td class="td1" valign="middle">
<p class="p4">inner</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$1,265,000</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$820,000</p>
</td>
<td class="td1" valign="middle">
<p class="p6">-$445,000</p>
</td>
</tr>
<tr>
<td class="td1" valign="middle">
<p class="p4">CAULFIELD SOUTH</p>
</td>
<td class="td1" valign="middle">
<p class="p4">inner</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$1,388,000</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$946,500</p>
</td>
<td class="td1" valign="middle">
<p class="p6">-$441,500</p>
</td>
</tr>
<tr>
<td class="td1" valign="middle">
<p class="p4">PORT MELBOURNE</p>
</td>
<td class="td1" valign="middle">
<p class="p4">inner</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$1,380,000</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$955,000</p>
</td>
<td class="td1" valign="middle">
<p class="p6">-$425,000</p>
</td>
</tr>
<tr>
<td class="td1" valign="middle">
<p class="p4">ASCOT VALE</p>
</td>
<td class="td1" valign="middle">
<p class="p4">inner</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$1,141,000</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$800,000</p>
</td>
<td class="td1" valign="middle">
<p class="p6">-$341,000</p>
</td>
</tr>
<tr>
<td class="td1" valign="middle">
<p class="p4">WILLIAMSTOWN</p>
</td>
<td class="td1" valign="middle">
<p class="p4">inner</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$1,155,000</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$815,000</p>
</td>
<td class="td1" valign="middle">
<p class="p6">-$340,000</p>
</td>
</tr>
<tr>
<td class="td1" valign="middle">
<p class="p4">RICHMOND</p>
</td>
<td class="td1" valign="middle">
<p class="p4">inner</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$1,222,500</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$970,500</p>
</td>
<td class="td1" valign="middle">
<p class="p6">-$252,000</p>
</td>
</tr>
<tr>
<td class="td1" valign="middle">
<p class="p4">ST KILDA</p>
</td>
<td class="td1" valign="middle">
<p class="p4">inner</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$1,190,000</p>
</td>
<td class="td1" valign="middle">
<p class="p5">$976,000</p>
</td>
<td class="td1" valign="middle">
<p class="p6">-$214,000</p>
</td>
</tr>
</tbody></table>
<p>Property Observer found this two bedroom home in Elsternwick, 30 Ross Street (below), on the market for between <a href="https://www.realestate.com.au/property-house-vic-elsternwick-123290710" target="_blank">$900,000 and $990,000</a>. </p>
<p><img src="/images/2016/08/11/700_elsternwick.jpg" alt=""></p>
<p>Property Observer found a two bedroom home in Ivanhoe, <a href="https://www.realestate.com.au/property-house-vic-ivanhoe-123302402" target="_blank">24 Dalveen Road</a> (below).</p>
<h1><span><img src="/images/2016/08/11/700_ivanhoe.jpg" alt=""></span></h1>
<p> </p>
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jonathanchancellor-7SQnKwU6yx

The two bedroom house option - Melbourne suburb guide

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<div>Measures taken to slow the housing market in 2015 did their job effectively, largely by restricting the amount that people could borrow.</div>
<div> </div>
<div>Although there have been two interest rate cuts since May - a valedictory "double tap" from Governor Stevens, if you will - serviceability calculations continue to be assessed at a more stringent level.</div>
<div> </div>
<div>As a result borrowers can generally borrow little more than was the case before the most recent salvo of easing.</div>
<div> </div>
<div>This was to some extent reflected in the Housing Finance figures for June, released by the ABS today following a troublesome Census night website crash.</div>
<div> </div>
<div>Although the average loan size has been increasing steadily again from $352,200 to $360,100 since February, this figure remains below the peak of $382,300 seen in November last year. </div>
<div> </div>
<div>And it's a similar story for first homebuyer loan sizes. </div>
<br><a href="/images/2016/08/11/A2.jpg" target="_blank">Click to enlarge</a>
</div>
<div class="post-body entry-content">
<img src="/images/2016/08/11/A2.jpg" alt=""><br><br><div>At the state level, the first homebuyer loan sizes figures show the impact of tighter serviceability calculations.</div>
<br><div class="separator"><a href="/images/2016/08/11/A1.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/08/11/A1.jpg" alt=""></div>
<strong><span style="text-decoration: underline;"><br></span></strong><strong><span style="text-decoration: underline;">Total finance</span></strong><br><br><div>The net effect of this is that although trend total monthly housing finance has also now been rising again for the past few months - back up to well above $32 billion - the total value of commitments for now remains below the peak of $32.7 billion seen in June last year.</div>
<div> </div>
<div>Investor lending was the main target of the macroprudential crackdown, as you can see in the chart below. </div>
<div> </div>
<div>With the speed of investor credit growth now only about half of the arbitrary 10 per cent "speed limit", investor lending has now been trending up again for the past six months, albeit at a far less frantic pace than seen previously.</div>
<br><div class="separator"><a href="/images/2016/08/11/A3.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/08/11/A3.jpg" alt=""></div>
<br><strong><span style="text-decoration: underline;">Homebuyers return</span></strong><br><div> </div>
<div>The level of activity of homebuyers in the market has generally been relatively lower than we have seen in previous cycles, in part due to the sheer volume of investors in the Sydney and Melbourne markets since interest rates were dropped.</div>
<div> </div>
<div>However, following the effectively imposed caps on investor lending banks are now targeting the home loan market, and the trend number of monthly owner-occupier commitments has continued to rise to the highest level since June 2009. </div>
<br><div class="separator"><a href="/images/2016/08/11/A4.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/08/11/A4.jpg" alt=""></div>
<br><strong><span style="text-decoration: underline;">State versus state</span></strong><br><br><div>The number of owner-occupier commitments is trending solidly higher in Queensland, South Australia, Tasmania, and the ACT.</div>
<div> </div>
<div>Homebuyer activity remains high in Sydney and Melbourne, but these markets will also be impacted by serviceability constraints.</div>
<br><a href="/images/2016/08/11/A6.jpg" target="_blank">Click to enlarge</a>
</div>
<div class="post-body entry-content">
<img src="/images/2016/08/11/A6.jpg" alt=""><br><br><div>Indeed, this is reflected in the dampened trend monthly value of owner-occupier commitments in the two most populous states in the chart below.</div>
<div> </div>
<div>The homebuyer trend value of commitments appears to be strongest in Queensland, South Australia, Tasmania, and the ACT.</div>
<br><div class="separator"><a href="/images/2016/08/11/A5.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/08/11/A5.jpg" alt=""></div>
<div> </div>
<div class="separator">That said there has been a marked resurgence in investor lending in Sydney, sending preliminary auction clearance rates to their highest level of the year, at above 80 per cent.</div>
<div class="separator"><strong><span style="text-decoration: underline;"> </span></strong></div>
<div class="separator"><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div class="separator"> </div>
<div class="separator">Overall, despite lots of alarmist reporting housing finance is tracking both at a historically high level, and is now accelerating again.</div>
<div class="separator"> </div>
<div class="separator">And remember that these figures for June pre-date an interest rate cut delivered in August.</div>
<div> </div>
<div>It's also worth remembering that the underlying demand for mortgages right now is enormous - the only reason lending slowed was because regulators were getting concerned about the sheer wight of demand for borrowing.</div>
<div> </div>
<div>The data seem to be following a remarkably similar trajectory to what we saw in the United Kingdom following its own macroprudential intervention (the so-termed Mortgage Market Review). </div>
<div> </div>
<div>That is the initial shock clonked the market on to the back foot, but as the dust settles lending is on the rise again - just more steadily than it was before.<br><br>Finally, the ABS reported a small increase in first homebuyer activity, but as disclosed by the ABS these data remain incomplete.<br><br>NAB's survey for Q2 2016 showed that first homebuyers accounted for 1 in 3 new home sales in the June quarter, and 29 per cent of established home sales.</div>
<div> </div>
</div>
<div class="post-footer"> 
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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pwargent-M4siyDbqQY

Housing finance accelerating again: Pete Wargent

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<p><span>GUEST OBSERVER</span></p>
<p><span>The June housing finance report was a mixed bag with the headline number of owner occupier approvals undershooting expectations slightly but most of the detail more positive.</span></p>
<p>The number of approvals owner occupiers rose 1.2 percent in June, below expectations of a 2.3 percent gain. However ex refi, ‘new’ approvals were more in line with a 2.1 percent gain.</p>
<p>The value of housing finance approvals to investors was up 3.2 percent mth – although there was not a consensus forecast on this component it was probably a touch better than expected.</p>
<p>Both segments appear to have responded positively to May’s interest rate cut although broader market measures such as auction clearance rates point to a firming in demand rather than a sharp pick up.</p>
<p>The detail also showed solid gains 2 percent+ for construction-related finance approvals.<br><span><br>Details</span> <br>Owner–occupiers (no.)   1.2%mth, 6.7%yr          <br><span>– ex-financing (no.)        2.1%mth, 3.8%yr          </span><span>     </span></p>
<p>Construction of dwellings (no.)               2.1%mth, 1.1%yr     <br><span>Purchase of newly built dwellings (no.)   2.7%mth, 19.6%yr        </span><span>               </span></p>
<p>Value of loans:             </p>
<p>Owner-occupiers ($bn)   1.8%mth, 9.4%yr   <br><span>Investors ($bn)              3.2%mth, –13.1%yr      <br></span><span>Total ($bn)                    2.3%mth, 0%yr <br></span><span>Total ex refi ($bn)          2.8%mth, -3.4%yr      </span></p>
<p><em><span>Matthew Hassan</span> is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.</em></p>
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mick.cee-iDmgDDAmu8

June Australia housing finance approvals: Westpac's Matthew Hassan

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<p>GUEST OBSERVER</p>
<p>In its Statement on Monetary Policy (SoMP) for August the Reserve Bank has made no significant changes to its forecasts.</p>
<p>This is an unusual development given that it cut rates earlier this week. Our scrutiny of previous rate decisions shows that on all previous occasions a rate change has been followed with a forecast change.</p>
<p>However, as indicated in previous notes we expected no forecast change and a rate cut on the basis that the changes to the inflation outlook in the May SoMP were so significant that a follow-up move would be necessary without any further need to change the forecasts.</p>
<p>In summary, the Bank, which has extended the forecast period from June 2018 to December 2018, has retained a 3% growth forecast for 2016 and 2017, and a 3½% forecast for the whole of 2018 (having forecast 3½% for the year to June 2018 in the May SoMP).</p>
<p>The inflation forecasts also remain the same: underlying inflation in 2016 is forecast at 1½% (mid-point of 1-2% range) and 2% (mid-point of 1½-2½% range) in 2017. One area of interest was whether the Bank would adopt an above 2% forecast for calendar 2018. Note that in May, the forecast to June 2018 was still 2% but there was scope in this statement to adopt a ‘with-in target zone’ forecast for 2018. However the Bank has decided to retain the 2% forecast (mid-point of 1½-2½% range) for the whole of 2018.</p>
<p>This means that with underlying inflation printing 2% for 2015, the Bank is predicting that underlying inflation will remain below or at the bottom of the band for four consecutive years. Indeed in the statement it is even more confronting than that, choosing to note “inflation is likely to remain below 2% over most of the forecast period”.</p>
<p>This approach certainly raises issues around whether, with a new Governor being appointed in September and adopting a new agreement with the Government, a revised approach to inflation targeting could be embraced. One approach might be to further extend the forecast period with an assertion that eventually inflation will return to the target zone; another might be to lower the specific target; while a third might be to abandon an actual arithmetic target. These issues will be revealed over the next few months.</p>
<p>As is the normal practise, the forecasts assume unchanged AUD and oil prices but adopt market pricing for interest rates. Despite the rate cut in August markets continue to fully price in another cut by early next year. So in comparing the forecasts in May, which also had one full cut priced in, these forecasts have an extra cut priced in. Yet they have not been changed to reflect even easier monetary policy.</p>
<p>So, from this perspective, even though the forecasts have not been changed the implication is a more cautious view than we saw in May.</p>
<p>The growth forecasts appear to be on the high side. We know the Bank assesses trend growth as 2.75% and these forecasts indicate the expectation of four consecutive years of growth above that trend. With that in mind it is very interesting that the commentary in the introduction to the statement, which is generally accepted to have been written by the Governor, notes the following: “While the prospects for growth in economic activity are positive there is room for even stronger growth”. Interpreting this statement is not clear cut. It may be specifically justifying the decision to cut in August or it may be providing guidance for the future. Given that it will clearly be so closely scrutinised it would be risky to dismiss it as only justifying the August decision. Along with the surprisingly downbeat commentary on the inflation outlook it should not be dismissed as only providing an explanation for the August decision.</p>
<p>Therefore the combination of a decidedly underwhelming inflation forecast with recognition that even though growth is expected to be consistently a little above trend throughout the forecast period there is scope for even stronger growth should clearly be interpreted as the Bank retaining its easing bias. While there is no specific guidance around the outlook for policy, which is usually the vehicle for signalling such a bias, the flavour around these forecasts and the commentary indicates that easing policy stance.</p>
<p>The commentary around the outlook for the economy lacks confidence. Weak wages growth is explained by ongoing spare capacity in the labour market; low inflation expectations and profit pressures. Spare capacity in the labour market is expected to persist for the full forecast period (out to end 2018) and the unemployment rate is not expected to fall too much. In the near term, employment growth over the second half of 2016 is expected to be modest. Further uncertainty around the labour market is noted with the observation that: “Gains in employment continue to be mostly in part time and among workers who would like more hours” raising the prospect that the degree of spare capacity is larger than implied by the unemployment rate. The emphasis on this mix of jobs growth has increased significantly since the last SoMP with, despite the rate cut, the mood around the labour market being more cautious.</p>
<p>There are also confident observations made about risks to overstimulating house prices with house price growth being assessed as modest since around April and inflation in rents easing to multi-decade lows. Further the Statement asserts that, “the risks associated with high and rising household leverage and rapid gains in housing prices have diminished.”</p>
<p>Of course, uncertainty prevails around the AUD: “It [the AUD] … represents a significant source of uncertainty for the forecasts for inflation as well as the outlook for growth in activity”. <br><br>Views around the international environment are broadly the same as we saw in May with no particular strong reaction to ‘Brexit’ or the political uncertainty in the US. As with previous statements considerable attention is given to China with the ongoing issues of the sustainability of the recent upswing in housing activity and the increasing imbalance from excessive corporate and local government debt attracting attention. It is reasonable to conclude that the Bank’s developing suspicions around China’s outlook have progressed further in this statement.</p>
<p><strong>Conclusion</strong></p>
<p>We are not surprised that the forecasts in the statement are unchanged. However, the commentary around the inflation prospects, and, notwithstanding a little above trend growth forecasts, recognition that there is room for even stronger growth points to this statement implying an easing bias. There is no commentary that we can see pointing out stability risks to even lower rates. Indeed the statement strongly asserts that despite the rate cut in May, conditions in the housing market have stabilised and risks in the housing market have diminished. It is also apparent that caution has entered into the assessment around the labour market with specific emphasis on spare capacity being more prominent in this statement than we saw in May.</p>
<p>Our current forecast is that having responded to the ‘inflation scare’ in May with two rate cuts, the Bank will be inclined to now seek a period of stability on the policy front. However the sentiment in this statement indicates that the Bank is more open to further near term stimulus than we thought would have been the case.</p>
<p>Over the course of the next period we will assess the usual risks to determine whether our current view should be retained. Apart from the usual run of economic data, the agreement between the new RBA Governor, Philip Lowe, and the Government will be important, while any clarification from the new Governor himself on these issues will also be welcomed.</p>
<p> <span><em>BILL EVANS</em></span><em> is chief economist of Westpac<em> and can be contacted <a href="https://www.westpac.com.au/about-westpac/westpac-group/" target="_blank">here</a>.</em></em></p>
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jchancellor-FAypfDUnLy

RBA statement notes housing market risks have diminished: Westpac's Bill Evans

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<p>House prices went higher in the June quarter, with Sydney's median house price jumping back over the $1 million mark, the latest Domain House Price Report suggested. </p>
<p>It was houses on Sydney's upper north shore that rebounded to be up 5.2 percent over the quarter. The strongest region for annual growth was the city and east, with 12.2 percent house price growth.</p>
<p>Nationally prices rose 1.5 percent from the March quarter, led by Canberra's 3.1 percent quarterly gain and Sydney's 2.4 percent increase.</p>
<p>Prices fell 1.7 percent in Perth and 0.7 percent in Darwin.</p>
<p>Sydney's median house price sat at $1,021,968, up from $997,925 in March, but below the September 2015 record of $1,032,899. </p>
<p>Units in Melbourne posted strong recent growth, but the national quarterly growth figure was 0.7 percent given declines in Brisbane, Adelaide, Perth and Canberra.</p>
<p>In Sydney, apartment prices rose just 0.6 percent as signs suggest supply is catching up with demand.</p>
<div>
<p>Melbourne’s house prices hit a new record median of $740,995 after almost four years of growth as prices grew 1.5 per cent in the June quarter, taking the annual rate to 7.4 percent – the highest of all capital cities. It was Melbourne's west and north that had the highest annual regional growth, and the inner city which had the highest quarterly growth. T<span>he median house price rose in the west and north, at 12.1 percent and 9.6 percent respectively annually. </span></p>
<p>Melbourne's unit median price grew 3.5 per cent over the June quarter, but just 2.7 per cent annually, to $450,933.</p>
<p>Adelaide house prices hit a $498,927 record price.</p>
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Sydney's stronger upper north shore prices push Sydney's median house price over $1 million yet again

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<p>Over the March 2016 quarter, 9.2 percent of all apartments in capital cities resold recorded a gross loss when compared to their previous purchase price according to CoreLogic.</p>
<p>The report said over the first quarter of 2016, 6.9 percent of capital city properties resold at a loss compared to 13.1 percent of regional properties.</p>
<p>"Over the past quarter, the proportion of loss making resales has increased from 5.6 percent at the end of 2015 across the combined capital cities and fallen from 13.4 percent in regional markets. In fact, regional areas of the country have just recorded their lowest proportion of loss-making resales since the three months to July 2011," it said.</p>
<p><a href="/images/2016/06/30/Screen%20Shot%202016-06-30%20at%2011.49.03%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/06/30/Screen%20Shot%202016-06-30%20at%2011.49.03%20AM.png" alt=""></p>
<p>CoreLogic's Cameron Kusher said the trends in regional areas are shifting with the proportion of loss-making resales trending lower in areas linked to tourism and lifestyle.</p>
<p>"On the other hand, housing markets linked to the resources sector are generally seeing an elevated level of loss-making resales after housing market conditions in many of these locations have posted a sharp correction,” he said.</p>
<p>"Nationally there was $361.0 million in realised losses over the quarter at an average of $66,073 and $12.9 billion in realised profit at an average of $239,855. Across the capital cities, there were $187.0 million in losses with an average of $72,042 per loss-making resale compared to $10.2 billion in profit at an average of $294,045.</p>
<p>"The combined regional areas recorded $174.7 million in losses at an average of $60,689 compared to $2.7 billion in profit at an average of $140,992. The average losses were greater in the capital cities; however they also generally experienced much greater profits, more than double those in regional areas."</p>
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One in nine apartments selling for a loss with Melbourne even higher: CoreLogic

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<p>May proved a relatively positive quarter for Australia’s housing market, according to Residex.</p>
<p>Of the house markets, the Hobart market recorded the strongest quarterly growth gains in May with the median house increasing in value by 2.59 percent.</p>
<p>This was followed by country NSW houses, which posted 2.39 percent growth for the quarter.</p>
<p>In the unit market, the median Hobart unit increased by a shocking 6.66 percent in the May quarter. Regional Queensland was a very distant second, where median units increased by 2.44 percent over the same time period.</p>
<p><strong>Table 1: May 2016 Summary</strong></p>
<p><a href="/images/2016/06/28/Table_1_May16_Statistics_Summary.jpg" target="_blank">Click to enlarge</a><img src="/images/2016/06/28/Table_1_May16_Statistics_Summary.jpg" alt=""></p>
<p><em><span>Source: Residex</span></em></p>
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Country NSW enjoys May price growth: Residex

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<p>GUEST OBSERVER</p>
<p>The domestic market fundamental’s remain strong for housing development following yesterday’s announcement from The Treasury to implement a four percent stamp duty charge on foreign investors.</p>
<p>The Treasury’s move may intend to stabilize foreign investment and increase revenue for the State, however it has little regard for dealing with the ever increasing issue of housing affordability, particularly in Sydney. </p>
<p>Based on the Sydney median house price of $995,804, the stamp duty bill for an off-shore investor will increase from $40,305 to $80,137 and generate $1 billion over four years for the government.</p>
<p>Increased investment in employment, transport, health, education and recreation infrastructure has been committed by the private and public sector particularly the South West Sydney, and for this reason there is a continued surge of new property sales and importantly ‘occupation’ in developments offering properties well below Sydney metro’s median price.</p>
<p>Sekisui House Australia’s outlook is supported by the newly reported industry data. </p>
<p>According to the latest Autumn Housing Industry Association (HIA) report for NSW, the <em>‘AIG–HIA Performance Of Construction Index’</em> reports new orders in the house sector during early 2016 were somewhat stronger than at the end of 2015.  The index reading in March 2016 was 53.0 points, indicating an expansion in new orders during the month, a positive signal for detached house building activity over the near to medium term.</p>
<p>As the Government shifts goal posts for property investment particularly from off-shore investors, it’s important to focus on the owner-occupier market returning to the fore. Foreign property investors will always play their part in the NSW residential market, but with lower Loan-to-Value ratio being offered by the major banks, we foresee property sales for occupation potentially taking the lead in 2016 and beyond.</p>
<p><em>Craig D'Costa is the project director at Sekisui House Australia and can be contacted <a href="https://www.sekisuihouse.com.au/" target="_blank">here</a>.</em></p>
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