Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Housing Prices

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According to the CoreLogic RP Data Stratified Hedonic Index, the most affordable quarter of suburbs recorded annual value growth of 6.6 percent compared to a 6.4 percent rise across the middle market, and a 7.0 percent rise across the most expensive suburbs. 
While the annual figures show the most expensive suburbs recorded the strongest value growth over the past 3 months, value rises have been more uniform and with little difference between the broad value-based segments of the market. 
Across the most affordable suburbs, we’ve seen values move 1.8 percent higher over the March quarter followed by the most expensive suburbs move by 1.7 percent, and the middle market suburbs by 1.6 percent.
<a href="/images/2016/04/21/Screen%20Shot%202016-04-21%20at%201.40.49%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/21/Screen%20Shot%202016-04-21%20at%201.40.49%20PM.png" alt="">
 
Home values across the city increased by 7.4 percent over the past year after annual growth peaked at 18.4 percent in July 2015 Over the past year the most affordable suburbs have seen values rise by 8.0 percent. 
The middle market values are 6.6 percent higher and the most expensive suburbs have recorded value rises of 8.8 percent. 
The annual rate of value growth is slowing across each segment, however the premium end of the market continues to record higher rates of capital gain.
Sydney: Home values across the city increased by 7.4 percent over the past year after annual growth peaked at 18.4 percent in July 2015. Over the past year the most affordable suburbs have seen values rise by 8.0 percent. The middle market values are 6.6 percent higher and the most expensive suburbs have recorded value rises of 8.8 percent.
The annual rate of value growth is slowing across each segment, however the premium end of the market continues to record higher rates of capital gain.
 
Melbourne: Recorded home value growth of 9.8 percent over the past year, down from a recent peak of 14.2 percent in September 2015. 
The most affordable suburbs recorded value rises of 9.7 percent compared to 10.5 percent across the middle market and 10.0 percent across the most expensive suburbs. Growth is fairly steady across the affordable market but slowing across the middle and most expensive suburbs.
Brisbane: Home values increased by 4.5 percent over the past year with the rate of value growth higher than it was a year ago. The most expensive suburbs recorded value growth of 4.6 percent over the past year compared to a 5.1 percent rise across the middle of the market.
The most affordable suburbs saw a 5.7 percent rise. Annual rates of growth are generally trending higher across each segment.
Adelaide: Home value changes have been fairly steady having increased by 3.2 percent over the past year. The most expensive suburbs saw values rise by 3.2 percent compared to a 3.1 percent increase across the middle market and a 2.9 percent increase across the most affordable suburbs.
Across each segment growth is fairly steady with the rate of capital gain holding reasonably firm over the past twelve months.
Perth: The only major capital city to see value falls over the past year, however, the annual rate of decline has started to improve, easing from - 4.1 percent in November 2015 to the current annual decline of -2.0 percent. Across the broad valuation segments, home values have fallen -0.5 percent across the most affordable suburbs, and are -1.5 percent lower across the middle market and 2.1 percent lower across the most expensive suburbs.
Across each segment values are still falling but the rate of decline in values has slowed.
The CoreLogic RP Data Stratified Home Value Index highlights the importance of looking beneath the broad headline figures.
<a href="/images/2016/04/21/Screen%20Shot%202016-04-21%20at%201.42.39%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/21/Screen%20Shot%202016-04-21%20at%201.42.39%20PM.png" alt="">
 
Markets within a city can be performing quite differently to what the over-arching statistics for a capital city market shows, not only across valuation based segments of the market, but also across housing types and geographically.
 Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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ckusher-ujnxiKuFQs

Home value growth strongest in most expensive suburbs: CoreLogic RP Data's Cameron Kusher

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Changes to price quoting announced by the government are a significant step forward and bring transparency and consistency to property transactions, the Real Estate Institute of Victoria said on Friday.
The changes include:
<ul>
<li>Delivery of a new fact sheet for buyers, which will include recent comparable sales for a property, the median price for the suburb and, most importantly, the agent’s estimated sale price for the property;</li>
<li>The revision of the property’s estimated selling price - if the agent receives an offer, in writing, that is higher than the current advertised or estimated price;</li>
<li>No “offers over” or “price-plus” advertising to buyers – with the selling price only provided as either a single price, or a price range (which must fall within 10 per cent of the upper and lower end).</li>
</ul>
The new rules will apply to residential private sales and auctions, not commercial.
REIV CEO Enzo Raimondo said the changes would benefit those looking to buy real estate in Victoria.
He added that the reforms would be effective in a variety of market conditions, and for all stakeholders in property transactions.
“The changes will provide consistency in pricing of property and the information provided to both vendors and buyers,” he said.
Raimondo said the reforms were the result of a joint effort by the REIV and the Office of the Minister for Consumer Affairs.
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prateek24-ezbwHMbNAk

New price-quoting rules ‘a significant step forward for industry’: REIV 

<html><body>
The majority of home buyers expect housing prices to be flat or lower in 2016, though more than a third believe they will rise, according to the latest analysis of consumer trends by Westpac in its monthly Red Book.
The overall picture around housing, though, is still unclear with choppy reads on both house price expectations and ‘time to buy a dwelling’ indexes through Jan-Feb, although in both cases the sharp slides seen in 2015 appear to be levelling out.
The Westpac-Melbourne Institute Consumer House Price Expectations Index fell 12.5% in February after a 21.4% jump in January, with the index showing signs of settling around the 110 level.
It is still in net positive territory but well below the 10-year average of 125.
Just under 61% of consumers expect prices to be flat or lower in the year ahead, while 35% expect a 0-10% rise and four percent expecting double-digit gains, the report says.
There is a seasonal element to price expectations, though, the report notes and like other housing market measures, house price data is also less reliable over the January-February period in part due to the summer holidays. But available data does show tentative signs of stabilisation after an abrupt slowdown in Q4 2015. 
Price measures show a 0.8% gain for January and a 0.2% rise in the February month to date, RP Data-Corelogic shows.
"The state breakdown shows price expectations have been volatile across the board but are showing signs of stabilising in NSW, are somewhat firmer in Vic &amp; Qld, and falling away sharply in WA," the report notes.
The related ‘time to buy a dwelling’ index also showed volatility through Jan-Feb but with tentative signs that a base may be forming after the sharp pull-back in the first half of 2015. 
Sydney and Melbourne show signs of firming, but at 99.3, the overall level is still weak though, 23 ppts below its long-run average.
The index fell 12.1% in February after bouncing 13.8% in January, with some of the volatility again being seasonal.
But the report points to "some interesting snippets around broad measures of market turnover and auction activity".
"With conditions very uneven across states, auction markets heavily skewed to Syd-Melb and finance data affected by ‘switching’ between investor and owner-occupier segments, turnover is currently the most reliable gauge of total market activity. Latest figures, for Nov, confirm a substantive slowdown in line with ‘time to buy’ readings mid-last year," it says.
Auction clearance rates in early 2016 hint at some firming. Although activity is still 60% below normal, both Sydney and Melbourne have seen clearance rates around 75% vs 62% and 69% respectively for December.
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Housing prices expected to be flat or lower in 2016: Westpac Red Book

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National Australia Bank's latest survey of the housing market anticipates a rise of one per cent in house prices for 2016.
Apartment prices are expected to fall by 1.2 percent.
Houses in capital cities experienced average price growth of 7.8 percent in 2015.
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The survey is based on the responses of 250 real estate professionals, fund managers, property owners and investors.
NAB’s Residential Property Index fell to its lowest level since mid-2012 as the slowdown in house price growth continued. Queensland is expected to lead the country for capital growth over the next 1-2 years.
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Local investors played a smaller role in both new and established property markets in Q4.
Foreign buyers were also less active, except in Queensland.
NAB has lowered its average forecast for national house prices for 2016 to 1%, with expectations softer in all cities (led by Sydney and Melbourne). The outlook for unit prices (included for the first time) also points to flat to falling apartment prices across all capitals.
The NAB Residential Property Index fell to +1 in Q4 (+10 in Q3) and now sits well below its long-term average (+13).
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Market sentiment continued to weaken in most states, particularly in NSW and Queensland. Sentiment also fell in Victoria, but it has replaced NSW as the strongest overall and is currently the only state tracking above its long-term average. Sentiment fell further in SA/NT and remains very weak in WA.
Average survey expectations for national house price growth over the next 1-2 years were scaled back in most states.
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Queensland, is predicted to be the best state for capital growth (1.9% &amp; 2.7%), followed by Victoria (0.7% &amp; 1%). House price growth in NSW in the next 1-2 years is expected to be flat, with weak growth also tipped for SA/NT (-0.6% &amp; 0.2%) and WA (-0.5% &amp; 0.6%).
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According to NAB Group chief economist Alan Oster the weakening fundamentals have already seen the market starting to cool, "suggesting the best of the price gains are probably behind us”.
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NAB survey predicts slight apartment price fall in 2016

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The Stockland chief Mark Steinert expects house prices to continue to rise next year.
His forecast is by about 3 to 5%, rejecting this week's forecast by Macquarie Research of a 7.5% slump in prices between 2016 and mid-2017.
"There has been quite a lot of talk going on for quite a long time now about the imminent downturn in housing, but no one has mentioned that it hasn't actually eventuated," Mark Steinert told a Property Council lunch in Melbourne yesterday.
"The reality is the economy in Australia is growing at a moderate level of around 2.5%.
"We have a low Australian dollar, continued population growth (albeit at a slower rate) and metro housing markets that are generally under supplied.
"These are not the pre-conditions for some sort of general correction in housing," he suggested.
Macquarie Research forecast for a 7.5 per cent drop in property prices nationwide from next March attracted widespread attack.
Superannuation columnist Peter Switzer said the forecast "bordered on being stupid."
"Even though these economists’ predictions are guesses based on some economic analysis, one journalist writes: House prices are set for a 7.5% decline from March next year, with the resulting slowdown hitting the broader economy and risking recession, economists have warned.
"Apparently, Macquarie says the decline in house prices, nationally, could be 7.5% peak to trough, which is eco-speak from the high point to the low point, which seems pretty small, given the recent rises.
"Our house prices have risen in the past three years but most of it has come out of Sydney and Melbourne. "
"Roughly, it has gone from an index reading of 320 to 390, so a 7.5% decline peak to trough is hardly a huge drama that could lead to recession!
"In fact, given the double-digit rises in the past three years in Sydney, it would be a healthy correction," Switzer suggested. 
Dr Andrew Wilson, the senior economist at Domain's Australian Property Monitors, noted in the past decade, there had not been any national annual drops of more than 5%.
“Even in periods where we had prices falling, such as during 2008 when it was the global financial crisis, the national house price fell by just under 4 per cent after a significant period of higher interest rates,” Dr Wilson said.
“It would be an historical first and is unbelievably unlikely.”
The property market in southeast Queensland was steadily improving and all the latest data supported ongoing, consistent capital growth, the REIQ CEO Antonia Mercorella said.
"Sudden slumps were unlikely and any predictions of dramatic house price drops were nothing more than “crystal ball gazing”.
“The Brisbane median house price reached a new high of $610,000 in the June quarter following a trend of positive growth of around two percent since the June quarter of 2013,” Ms Mercorella said.
“Our data suggests that this trend will continue for the September quarter,” she said.
In Queensland, the average home loan is $319,328 compared with New South Wales’ average of $422,179 and Victoria’s average of $365,265, according to ABS data.
“In Queensland, the average proportion of family income used to repay a mortgage is 27.3 percent, compared with 35.5 percent in New South Wales and 32.1 percent in Victoria, according to REIA data.
“Household debt levels are just not comparable between Queensland and the southern states,” Ms Mercorella said. 
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Stockland, APM, REIQ and Switzer debunk headlines that Macquarie's 7.5% price dip prediction

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Half of Australia's capital cities posted a fall during the September quarter, according to CoreLogic RP Data's Hedonic Home Value Index.
CoreLogic RP Data head of research Tim Lawless said the flat growth rate in Sydney comes after dwelling values increased by 16.7% over the past twelve months and are 49.6% higher over the growth cycle to date.
"The most substantial capital gains over the quarter were achieved in Melbourne where dwelling values were up by 7.4%, followed by Sydney (+4.6%), Brisbane (+1.9%) and Darwin where values were up by 0.4%," he said.
"During the September quarter, half of Australia’s capital cities posted a decline in dwelling values with Hobart down 2.0% over the three months. Adelaide values slipped by 1.6%, Perth by 0.7%, and Canberra values were down 0.4%. 
“While half of Australia’s capital cities have seen values rise over the past quarter and year, the other half did not fare as well,” Mr Lawless said. 
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Half of capital cities post September fall: CoreLogic RP Data

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<div style="text-align: left;" align="center">The home with the longest days on market featured on SQM Research's Top Ten Discounted Properties Nationwide has been listed since 29 July 2011.</div>
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<div style="text-align: left;" align="center">The property, <a href="https://www.realestate.com.au/property-house-sa-strathalbyn-107567610" target="_blank">2 Rankine Street, Strathalbyn</a>, South Australia, is number eight on the top ten list. Since 2011 the price of the property has been slashed a massive 30%, with a total reduction of $150,000.</div>
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<div style="text-align: left;" align="center">SQM Research managing director Louis Christopher said there doesn't seem to be a problem with supply and demand, as the area recently recorded a low vacancy rate of 1.6% for August. </div>
<div style="text-align: left;" align="center"> </div>
<div style="text-align: left;" align="center">"It seems that the vendor is not prepared to let this one go so easy... This makes us question why this property is still not selling?... Is it overvalued?," he said</div>
<div style="text-align: left;" align="center"> </div>
<div style="text-align: left;" align="center">"The property is not necessarily overvalued as its current asking price is just below local median asking prices. </div>
<div style="text-align: left;" align="center"> </div>
<div style="text-align: left;" align="center">"This reduction percentage is somewhat small compared to other properties on our list that have been on the market for much less time. Take for example, <a href="https://www.realestate.com.au/property-house-sa-freeling-119221667" target="_blank">24 Coulls Street, Freeling</a>, which was reduced by 46% with only 196 days on the market."</div>
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SA home leads longest time on market: SQM Research

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Soaring residential property prices in Sydney are driving people across the boarder to take advantage of Queensland's comparatively affordable market.
The trend is tipped to continue, according to an industry leader, Brookfield residential properties general manager, Lee Butterworth, who noted the phenomenon was a usual part of the property market cycle and had occurred several times in the past. 
“When we see Sydney and Melbourne residential prices start to peak there is usually a flow-on effect that positively impacts the Queensland market within the following 18 months,” he said. 
“We are starting to see that now and I believe it will continue to gain momentum throughout 2015.
"What you can get for your dollar in Brisbane is superior in terms of size and location to many markets interstate and buyers see the value that our property represents.”
One such buyer who has bought in Brookfield’s prestigious Portside Wharf development on the Brisbane River at Hamilton is Sydney based, Brisbane bound, Tenille Kelly.
Ms Kelly has packed up her home in Cronulla and moved to Brisbane to avoid "living in a shoe box".
The 35 year old revenue manager has purchased a two bedroom plus study apartment on the second level of Pinnacle at Portside Wharf complete with river views and a car space - something she said she could never have afforded in Sydney. 
"Looking at apartments in Sydney is scary," she said. 
"It came down to pricing and what I could get in Brisbane in terms of apartment size, views, quality finishes and location was far better than anything I could afford in Sydney so it was absolutely worth the move."
"Thanks to the affordability of the market here, I now have plans to purchase an investment property in the precinct in the next 12 months."
Ms Kelly said when she started to investigate the Brisbane market she looked at several areas including West End and Fortitude Valley.
She said the fact that Portside Wharf and the greater Northshore Hamilton urban renewal development had a vision and a master plan played a huge factor in her decision on where to purchase.
"For me, being able to see where the area was headed and what it would look like in 15 to 20 years was really important," she said.
"The future plans include plenty of parks and open space so you know it will retain its feeling of openness and not end up an industrial area."
Portside Wharf is home to 40 retailers and six residential buildings. It is located six kilometres from the CBD and 15 minutes from the domestic and international airports and with easy access to major roads and public transport including the CityCat.
Prices in <a href="https://portsidewharf.com.au/pinnacle/" target="_blank">Portside Wharf's latest stage Pinnacle</a>, which is now more than 75% sold, start from $610,000.
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