Buyers considering a residence at boutique Gordon townhouse development <a href="https://www.apartments.com.au/new-townhouses/lume-gordon-43-47-dumaresq-street-gordon-nsw-2072">Lume</a>&nbsp;now have another reason to bring forward their decision.

For a limited time, purchasers of a residence at Lume will receive a BMW iX3 50 electric SUV, valued at more than $120,000, as part of their purchase. The offer is designed to add value for buyers while complementing the lifestyle envisioned for the architecturally designed Upper North Shore development.

Scott Timmins, Development Manager at <a href="https://www.apartments.com.au/developers/winim">WINIM</a>, said the partnership was created to provide buyers with a compelling reason to act.

"In today's market, buyers need a compelling reason to act now, and the BMW partnership was designed to create that catalyst. We wanted to add genuine value for our future purchasers. Choosing the all-electric BMW iX3 50 also reflects the values behind LUME, forward-thinking design, innovation and a more sustainable way of living. It's a premium incentive that complements the lifestyle our buyers aspire to and rewards those who commit early."

[smartcode_project:default project_id=7354 project_image_fid=374893]

Delivered by WINIM in partnership with Burtonwood Investment Partners, Lume comprises 14 architecturally designed two, three and four-bedroom townhomes created for families seeking the space of a freestanding house with the ease of modern, low-maintenance living.

The three-storey residences, designed by award-winning architecture practice <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>, have been tailored for families and multi-generational living, featuring private internal lifts, flexible lower-level spaces, generous open-plan living and entertaining areas, media rooms, and landscaped outdoor spaces with custom outdoor kitchens.&nbsp;

Inside, engineered oak flooring, bespoke dining joinery with integrated wine fridges and backlit bars, sculptural porcelain bathrooms, Parisi freestanding baths and Astra Walker tapware create interiors that balance functionality with refined finishes.

Each townhome has been designed to combine generous internal spaces with sustainability initiatives such as EV charging infrastructure, while <a href="https://www.apartments.com.au/landscape-architect/arcadia-landscape-architecture">Arcadia</a>'s landscaped communal areas, centred around a restored creek line and native planting, encourage residents to connect with nature and spend more time outdoors.

[smartcode_project:default project_id=7354 project_image_fid=269527]

Rothelowman's Gary Tsui said the architecture was conceived to respond carefully to its Upper North Shore setting.

"Our vision was to create elegant, uplifting homes that draw on and positively contribute to the local character through meticulously considered design and an interaction with the surroundings."

The communal landscape has been designed as more than an open space between homes. Arcadia's Ben Newell and Kate Phillips said the adjoining reserve provided an opportunity to create a distinctive natural retreat for residents.

"Just as waterways carve their way through Ku-ring-gai's landscape, a raised boardwalk weaves through the reserve, connecting the homes to this tranquil oasis."

[smartcode_project:default project_id=7354 project_image_fid=374892]

Located just 300 metres from <a href="https://www.apartments.com.au/developments/gordon-nsw-2072">Gordon</a> Village and Gordon railway station, Lume offers convenient access to Sydney's CBD while placing residents close to some of the North Shore's leading schools, including Ravenswood, Pymble Ladies' College and Knox Grammar. Lane Cove National Park, Gordon Golf Club and a range of cafés and restaurants further reinforce the family-focused lifestyle on offer, with the BMW iX3 50 complementing everything from local trips around Gordon to weekend drives and city commutes.

Construction is underway with completion expected in mid-2027.

[smartcode_project_cta:default project_id=7354]

Joel Robinson

Boutique Gordon townhomes now come with a BMW iX3 50

Two apartments have sold for more than $10 million at EADE Byron Bay, setting some of the highest apartment prices ever achieved in the coastal town and underlining the growing appetite for luxury beachfront apartments in Australia's most popular coastal locations.

The $210 million project by Vitale Property Group has now secured more than $70 million in sales, led by residences that changed hands for $12.75 million and $11.75 million.

The record-breaking transactions reinforce the shift occurring in Byron Bay's premium property market, where affluent downsizers and lifestyle buyers are increasingly opting for high-end apartments over large beachfront homes.

<a href="https://www.apartments.com.au/new-apartments/eade-byron-bay-29-shirley-street-byron-bay-nsw-2481">EADE Byron Bay</a> occupies a rare 6,000 sqm absolute beachfront site on the corner of Shirley and Milton Streets overlooking Main Beach and The Wreck surf break, just 350 metres from Byron Bay's town centre.

The 25-residence development is the first beachfront apartment project approved in Byron Bay in more than a decade and is currently under construction, with completion expected in May 2027.

[smartcode_project:default project_id=145590 project_image_fid=359521]

The project has attracted a mix of local Byron Shire residents downsizing from larger homes, alongside interstate buyers from Sydney, Melbourne and Brisbane seeking a permanent coastal lifestyle without compromising on space.

Designed by <a href="https://www.apartments.com.au/architects/hayball">Hayball</a> and with interiors by <a href="https://www.apartments.com.au/interior-designers/alexander-co">Alexander &amp; Co</a>, EADE comprises&nbsp;10 garden apartments ranging from 284 sqm to 622 sqm, nine with private pools, five full-floor apartments and 10 rooftop residences with private plunge pools, expansive outdoor entertaining areas and uninterrupted ocean views.

[smartcode_project:default project_id=145590 project_image_fid=359527]

<a href="https://www.apartments.com.au/developers/vitale-property-group">Vitale Property Group</a> Managing Partner Chris Vitale said the project's combination of scale, location and limited future supply was driving buyer demand.

"There isn't another beachfront holding in Byron Bay of this size and position that could be developed again," Vitale said.

"Buyers are responding to the scarcity and the irreplaceability of a site of this calibre and to floorplans they can't find elsewhere in the market.

"We are seeing buyers place significant value on quality, space, design, resort-style amenities and the rarity of the location. The sales achieved to date demonstrate that discerning purchasers recognise the long-term significance of what is being created at EADE Byron Bay.

"Many are coming from larger homes in the Byron region, or from Sydney, Melbourne and Brisbane, and are after the space, security and convenience, without the upkeep of a house."

&nbsp;

[smartcode_project:default project_id=145590 project_image_fid=359523]

The Byron Bay project follows Vitale Property Group's delivery of the Mondrian Hotel and Private Residences at Burleigh Heads, with EADE continuing the developer's focus on luxury coastal developments.

Residents will have access to a resort-style swimming pool, gymnasium, sauna, cold plunge pool, concierge services and dedicated workspaces, while the project is targeting an 8-Star Green Star rating.

EADE Byron Bay is being exclusively marketed by Projx Australia in conjunction with WHITEFOX Projects.

WHITEFOX National Projects Director Phillip Rand said demand had been driven predominantly by owner-occupiers.

"We are seeing buyers at EADE place significant value on quality, space, design, resort-style amenities and the rarity of this location," Rand says.

"The sales achieved to date demonstrate that purchasers at this level recognise the long-term significance of what is being created at EADE Byron Bay."

Residences at EADE Byron Bay are currently priced between $4.75 million and $15.95 million.

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[smartcode_project_cta:default project_id=145590]

Vitale breaks Byron Bay records with EADE sales flurry 

When buying an apartment, most people compare the big-ticket items first. Floorplans. Kitchens. Balcony size. Natural light. The view.

But there's one everyday consideration that often doesn't come up until after moving in: how parcels are delivered.

As online shopping has become part of everyday life, parcel deliveries have shifted from an occasional event to a regular occurrence. Australians spent a record $82.6 billion shopping online in 2025, with almost one in every four retail dollars now spent digitally.

For apartment residents, that can present a challenge.

If nobody is home to accept a delivery, parcels may be redirected to a nearby Post Office, left in a building lobby or common area, or require building management to step in. In higher-density buildings, where dozens or even hundreds of residents may receive deliveries each day, parcel management has become an increasingly important part of everyday living.

That can create a range of frustrations. A missed delivery often means making time to collect a parcel elsewhere, while packages left unattended in foyers or mail areas can create clutter and increase the risk of theft. What seems like a minor inconvenience can quickly become a recurring issue for residents who shop online regularly.

It's one of those details that rarely features in a display suite but can have a noticeable impact once residents move in.

As a result, buyers are beginning to look beyond traditional apartment features and consider how a building supports day-to-day convenience, including whether there are secure options for receiving deliveries.

Australia Post's Parcel Lockers provide one solution.

<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/CkF2oKmlACg?si=C50sDaoUUn2nuLmq" title="YouTube video player" width="560"></iframe>

Rather than having a parcel delivered directly to an apartment, eligible deliveries can be sent to a nominated Parcel Locker. Once the parcel arrives, residents receive a notification through the AusPost app or SMS and can collect it using a QR code or one-time PIN at a time that suits them.

The Parcel Locker network now includes more than 1,500 locations nationwide, with installations at Post Offices, shopping centres, transport hubs and an increasing number of residential developments. By providing a secure collection point, Parcel Lockers help reduce missed deliveries and avoid parcels being left unattended in common areas.

For developers, parcel infrastructure is becoming another way to improve the resident experience. Rather than relying on concierge staff or leaving parcels in communal spaces, secure collection points help streamline deliveries while preserving the presentation and functionality of shared areas.

For buyers, it's a reminder that the best apartment features aren't always the most obvious.

A generous floorplan or quality finishes might help narrow the shortlist, but the conveniences that simplify everyday life, whether that's EV charging, secure bike storage or reliable parcel delivery, often become the features residents appreciate most once they're living there.

The apartment feature many buyers don't think about, until their first missed delivery

<a href="https://www.apartments.com.au/developers/hg-developments">HG Developments</a> is doubling down on Maud Street in Newstead, filing plans for a new apartment tower just a few doors down from its under-construction Aire Newstead development.

Recently submitted to Brisbane City Council, the proposal is for an 18-storey building designed by bureau^proberts, which has drawn heavily on Brisbane's subtropical design principles while referencing the suburb's industrial heritage.

A total of 64 apartments are planned for the amalgamated 1,518 sqm site at <a href="https://www.apartments.com.au/new-apartments/17-21-maud-street-newstead-qld-4006">17–21 Maud Street</a>, a short walk from the Brisbane River and Newstead Riverwalk.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="a400c7fd-bd15-48f8-a63b-10ede92efe00" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20bldg.png?VersionId=.0vPmjpbC7CNP7kqGWa6L7rGIwsNExaw" />

"The building is defined by a series of vaulted motifs that reinterpret the arches, colonnades and layered facades evident throughout Newstead's historic built fabric," the Urban Design Report states.

"Combined with recessed glazing and generous balconies, these elements create a layered building envelope that provides shade, weather protection and opportunities for natural ventilation whilst establishing a distinctive architectural identity."

The proposal comprises 64 two, three and four-bedroom apartments across 18 residential levels, positioning it alongside a growing number of taller residential projects transforming Newstead's northern precinct. The tower incorporates extensive subtropical landscaping, with cascading planter boxes, deep planting at street level and a landscaped rooftop recreation area.

<img alt="First look: HG Developments plans 18-storey subtropical apartment tower for Newstead" data-entity-type="file" data-entity-uuid="1d8140f4-8b98-45cd-b1b8-1efe8c8e266b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Maud%20st%20podium.png?VersionId=VAZtbCoD44YCJ57N99fQCAKeSJx7ldZs" />

Bureau Proberts has prioritised passive environmental design throughout the project, with generous balconies, recessed glazing and operable façades helping reduce solar heat gain while maximising natural ventilation. River views become available from the upper levels, while the building has been orientated to capture prevailing breezes from both the Brisbane River and the west.

The architects say landscape is intended to be integral to the building rather than an applied element.

"Vertical greenery, cascading planter boxes and elevated gardens are woven throughout the architecture, softening the built form and strengthening the connection between residents and the subtropical environment."

"Through the integration of landscape, high-quality materials and passive design principles, the development delivers a refined residential address that celebrates Newstead's heritage character while contributing positively to Brisbane's evolving subtropical identity."

Newstead has remained one of Brisbane's most active apartment markets in recent years, with a number of developers continuing to back the inner-city suburb.

HG Developments is currently delivering the 40-apartment Aire Newstead at 25 Maud Street. Fortis recently launched the 65-apartment <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> on Kyabra Street, while builder-developer BPG and Don O'Rorke's Consolidated Properties are both expected to launch their respective Newstead projects before the end of the year.

HG Developments doubles down in Newstead with second Maud Street apartment development

Walk past a new apartment development promoting its sustainability credentials and it's easy to picture rooftop gardens, mature trees, landscaped courtyards and residents surrounded by nature.

But in many cases, that's not actually what those sustainability ratings guarantee.

Australia's leading environmental rating tools have played a significant role in improving the energy efficiency and environmental performance of buildings. Yet despite their focus on reducing emissions, many don't require developers to include trees, biodiversity or meaningful green space.

In other words, a building can achieve one of the country's highest sustainability ratings while containing little more than concrete, glass and hard landscaping.

That disconnect has led to the emergence of a new movement across Australia's property industry: nature-based cities.

The concept goes beyond designing buildings that consume less energy. Instead, it encourages developers to treat nature as essential infrastructure, integrating biodiversity, tree canopy, living landscapes and green spaces into projects from the earliest stages of planning.

Research has consistently linked access to nature with better physical and mental health, cooler neighbourhoods, improved biodiversity, stronger climate resilience and more connected communities. As Australia's cities continue to become denser, advocates say those outcomes should be considered just as important as energy efficiency.

Nature Based Cities (NBC) was established in 2022 to help accelerate that shift.

Founded by Hamton Executive Chairman Paul Hameister OAM, the not-for-profit was created after research highlighted a significant gap in Australia's sustainability framework. While existing environmental rating tools rewarded energy performance and emissions reductions, they placed little emphasis on the inclusion of living landscapes.

"We've always wanted to do more, and we know other developers who want to do more, but the ESD rating tools just aren't there," Hameister says.

"In Australia, you can have a five-green-star rated building that's concrete and glass with not a blade of grass.

"The focus is on reducing emissions, which is laudable, but there hasn't been enough attention paid to protecting and re-establishing nature. We need both for the health of the environment and for communities."

Since its launch, NBC has developed independent design guidelines and accreditation frameworks that encourage developers to prioritise ecology, biodiversity, tree canopy, walkability and living landscapes alongside traditional sustainability measures. The organisation first focused on medium and high-density residential developments before recently expanding into precinct-scale communities and masterplanned neighbourhoods.

Jan Talacko, founder of sustainability consultancy Ark Resources and a member of the Nature Based Cities Advisory Council, says the initiative addresses an area that has largely been overlooked by the property industry.

"Throughout my 25 years of working collaboratively with all stakeholders in the property sector, I've always favoured a pragmatic approach to sustainable design which encourages initiatives that not only meet environmental expectations but also improve amenity," Talacko says.

"Whilst we are making steady progress in relation to energy and carbon emissions from buildings, there has been much less emphasis on encouraging biodiversity and tackling the urban heat island effect.

"The Nature Based Cities initiative responds to a gap in the suite of tools currently used by the property development sector, which don't provide sufficient incentive, or recognition, for the integration of landscaping and greenery."

For apartment buyers, the shift is also changing the questions worth asking.

Rather than assuming a sustainable building will naturally include abundant green space, buyers are increasingly being encouraged to look beyond environmental ratings and ask what nature is actually being delivered. How much tree canopy will the development create? Has biodiversity been considered? Are landscaped spaces designed for people as well as appearance?

As Australia's cities continue to grow upwards and outwards, the next generation of sustainability may not simply be measured by lower emissions, but by how successfully developments bring nature back into everyday urban life.

What does it really mean for a building to be 'green'?

Housing Turnover

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GUEST OBSERVER
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At a national level, the six month average trend shows that the number of dwelling sales is starting to trend slightly higher. 
Of note is that settled sales peaked all the way back in July 2003, a time at which the population was around 4.7 million lower than it is currently. 
While the national population increased by almost 4.7 million persons between June 2003 and December 2016, a commensurate lift in transactions has not occurred. 
This is likely due to a number of reasons including the impost of stamp duty which discourages transactions, higher prices which lead to greater commission on sales and no real incentives for people to downsize homes when their children leave or they reach retirement. 
<a href="https://www.propertyobserver.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%209.49.56%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%209.49.56%20AM.png" alt="">
Across the individual capital cities the number of sales and the transaction trends are somewhat mixed. 
Sydney – annual sales volumes are -0.9% lower year on year however, they have been trending higher from a recent low in April 2017.
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Melbourne – transaction volumes are slightly higher than their recent low however, annual settled sales are -7.6% lower than they were over the 12 months to July 2016. 
Brisbane – annual sales volumes are -9.7% lower over the past year and the number of transactions is clearly continuing to trend lower across the city. 
Adelaide – over the past year, the number of sales throughout the city was only -0.9% lower than over the previous year and the trend data indicates fairly stable transaction volumes. 
Perth – settled sales are substantially lower than their peak and annual sales have fallen by a further -1.1% over the past year however, monthly data points to a recent stabilisation in transaction activity. 
Hobart - the city has seen a substantial lift in transactions over the past 12 months with annual sales 10.9% higher over the past year. 
Darwin – on an annual basis, sales volumes have increased by 10.7% and they have shifted higher off an historic low base. 
Canberra – settled sales are slightly lower over the year, down -1.4% however, there has been a moderate lift in transactions recently.
<a href="https://www.propertyobserver.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%209.50.53%20AM.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/08/03/Screen%20Shot%202017-08-03%20at%209.50.53%20AM.png" alt="">
 
The settled sales insights highlights that although some regions are seeing transactions rise they remain well down on historic high levels. 
The relatively lower volume of transactions across markets experiencing positive population growth highlights the ongoing inefficiencies in the housing market which discourage transactions. 
These inefficiencies (detailed earlier) also have an economic impact as the high cost of exiting and entering the housing market is likely to impact on labour mobility as home owners may choose not to move for employment because of these high costs. 
Note: Property transaction are an important component of the housing market, particularly for participants such as real estate agents and mortgage brokers that rely on turnover for their commission. Furthermore, transactions are an important source of stamp duty revenue for state governments. 
It is important to note the way in which property transactions are recorded. All data is based on settled sales which means off-the- plan sales are counted once the property settles. Upon settlement, which can be several years after the contract date, off-the-plan sales are recorded at their contract date which means recent years of sales will be subject to revision. 
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/" target="_blank">here</a>.
 
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ckusher-ujnxiKuFQs

Number of dwelling sales starting to trend higher

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EXPERT OBSERVATIONS
Over the 12 months to November 2018, turnover of national housing stock was recorded at 4.6%.
Over the nine years shown on the chart it was the lowest turnover of stock and was down from 5.3% the previous year.
Turnover has been trending lower since it was recorded at 6.3% in mid-2015.
<img src="https://www.urban.com.au/images/2018/12/5/Turnover%20CL%201.JPG" alt="">
CoreLogic data has revealed that the decline in housing turnover was more pronounced across the combined capital cities as opposed to regional markets.
12 months ago, capital city turnover was 5.3% compared to 4.5% over the past year and across the combined regional markets it was 5.9% a year ago compared to 5.5% over the past year.
<img src="https://www.urban.com.au/images/2018/12/5/Turnover%20CL%202.JPG" alt="">
Sydney turnover over the past year was the lowest it has been over any of the past nine years due to a significant fall in property sales.
Over the past year, 4.8% of Sydney housing transacted compared to 6.0% a year earlier.
Turnover remains much greater in regional NSW however, it has also fallen over the past 12 months from 7.5% to 6.6%, the lowest it has been since mid-2016.
<img src="https://www.urban.com.au/images/2018/12/5/Turnover%20CL%203.JPG" alt="">
 
As dwelling values and sales volumes fall in Melbourne, turnover has also slid to its lowest level any time over the past nine years.
Over the 12 months to November 2018, 4.2% of housing stock transacted compared to 5.3% a year earlier.
In regional Vic, turnover is actually higher this year (5.7%) than it was last year (5.6%) however, it has trended lower from 5.9% in June 2018.
<img src="https://www.urban.com.au/images/2018/12/5/Turnover%20CL%204.JPG" alt="">
 
In both Brisbane and regional Qld housing turnover is trending lower however, in each region turnover was lower back in 2011 than it is currently.
Over the past 12 months, 4.5% of housing stock in Brisbane and 4.8% of housing stock in regional Qld has transacted.
By comparison, a year earlier 5.1% of housing stock in both Brisbane and regional Qld traded hands.
<img src="https://www.urban.com.au/images/2018/12/5/Turnover%20CL%205.JPG" alt="">
Housing turnover in Adelaide has been steady over the past year recorded at 4.6% in both November 2017 and November 2018.
In regional SA housing turnover has actually increased over the past year from 3.8% of stock to 4.1% of stock.
<img src="https://www.urban.com.au/images/2018/12/5/Turnover%20CL%206.JPG" alt="">
The share of housing stock which turns-over each year in Perth and regional WA has been very low for a number of years.
This is due to the ongoing weak economy (and housing market) which is resulting in very low sales volumes.
Over the past year, 4.0% of housing stock in Perth and 3.9% of housing stock in regional WA turned-over.
By comparison, a year ago turnover was greater in Perth (4.2%) but slightly lower in regional WA (3.8%).
<img src="https://www.urban.com.au/images/2018/12/5/Turnover%20CL%207.JPG" alt="">
Dwelling values in Tasmania continue to rise however, transaction volumes (and turnover) is falling due to a lack of supply of properties listed for sale.
In Hobart, turnover was recorded at 5.4% in November 2018, down from 6.1% a year earlier.
In regional Tas, turnover was steady between November 2017 and 2018 at 6.3% however, it has fallen slightly over recent months.
 
<img src="https://www.urban.com.au/images/2018/12/5/Turnover%20CL%208.JPG" alt="">
Turnover of housing stock across the NT has been low for a number of years due to very low volumes of sale.
Over the past year, 3.5% of housing stock in Darwin transacted compared to 3.6% a year earlier.
In regional NT, 4.5% of housing stock sold over the past year compared to 4.6% a year earlier.
<img src="https://www.urban.com.au/images/2018/12/5/Turnover%20CL%209.JPG" alt="">
Turnover in Canberra is unchanged over the past year at 4.8%.
Although the measure is the same, turnover has fallen over recent months from 5.0% in July and August of this year.
The data shows a declining trend in housing turnover across most geographies and is being driven by a number of factors with the main factors such as affordability (particularly in Sydney and Melbourne) and the ongoing tightening of credit conditions.
While affordability and credit conditions have worsened, the volume of stock for sale has actually increased with ample stock for sale to encourage turnover but credit access is crimping turnover.
With credit conditions expected to remain tight over the coming months, the expectation is for fewer sales transactions and an ongoing fall in housing turnover.
<img src="https://www.urban.com.au/images/2018/12/5/Turnover%20CL%2010.JPG" alt="">
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Housing turnover trends much lower down to fewer sales: Cameron Kusher

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EXPERT OBSERVATION
The number of properties that sell within a given year accounts for a very small portion of the overall market and has trended even lower over recent years. Over the 12 months to July 2018, 4.6 per cent of national dwellings transacted, down from 5.3 per cent a year ago. 
The more pronounced decline in turnover rates over the year to July is hardly a surprise given current market conditions, with dwelling values softening each month now for the past 12 months; coupled with the lowest levels of new stock being added to the market seen since 2012 over the past 6 months, as confidence wanes and homes take longer to sell. However, the long term trend can be attributable to a variety of factors and will differ between each of the regions. 
Housing affordability has likely had a large impact on the broader downward trend in turnover rates, where the likes of Sydney and Melbourne would have weighed heavily, given the high growth seen across these larger markets relative to only mild growth in household incomes. Fifteen years ago the dwelling price to income ratio as a national figure showed that dwelling prices were 5.1 times as high as the gross household income, while recent data shows this has increased to 6.8. In Sydney and Melbourne, where affordability has been a challenge for prospective buyers for some time, the price to income ratio sits at 9.1 and 8.1 respectively. In turn, what can been seen as housing has become less affordable across some capital city markets, regional areas have benefitted from the flow-on effect for being the more affordable option.
In addition, the high transactional cost to both purchase and sell property has likely added a further barrier to housing market participation. From the sell side there are marketing costs, agent fees and commission, legal costs and potentially some costs associated with getting the property ready to present to market. From the buy side, stamp duty costs as percentage of the purchase price are a major barrier to entry, especially in the more expensive markets as well as the costs associated with building and pest inspections and conveyancing.  
More recently, credit rationing has provided an additional dampening effect on housing activity.
<img src="https://www.corelogic.com.au/sites/default/files/2018-10/20181018_turnover_regional_vs_capital_city.jpg" alt="CoreLogic Turnover regional vs capital city" width="2016" height="1389">
Given the potential differences across each market, the analysis takes a look at turnover across each of the state’s capital city and non-capital city regions, including the top 5 council area’s across each state where the largest proportion of dwellings sold over the year.
Over the 12 months to July, 4 out of 7 of the rest of state regions recorded a higher level of turnover compared to their capital city counterpart. This was most prevalent across NSW, where Australia’s most expensive property market of Sydney saw a turnover rate of 4.1%, while outside of the metro area, turnover was at a considerably higher level with 5.6% of the market transacting over the year. 
The regional area of Tasmania saw the highest level of turnover of all regions with 6.1% of total dwelling turnover, while the lowest turnover levels were in WA (Perth 3.3%, Rest of WA 3.3%) and Darwin (3.5%).  Unsurprisingly, regional Tasmania has been one of the strongest housing markets for capital gains, with values up 8.1% over the past twelve months, while areas of Western Australia and Darwin have been amongst the weakest markets with dwelling values down materially since peaking in 2014.
<img src="https://www.corelogic.com.au/sites/default/files/2018-10/20181018_turnover_by_state.jpg" alt="CoreLogic Turnover by state" width="2600" height="1278">
<h3>Top 5 Council Regions by State – Highest Turnover </h3>
All top 5 NSW council regions with the highest rate of turnover were in non-capital city regions, topping the list with 8.5% of housing stock transacting over the year was Tumbarumba, followed by Dungog where 7.9% of total dwellings sold over the 12 months to July 18. Coming in equal third place was Upper Lachlan Shire and Palerang with a turnover rate of 7.7%. It should be noted that these regions all have shallow overall stock levels, with less than 5,000 dwellings across each of these council areas. 
3 of the 5 NT council regions were in the Greater Darwin capital city region, although it was regional Alice Springs that recorded the highest rate of yearly turnover with 4.9% of dwellings transacting over the 12 months to July 18. Katherine, located outside of the main capital city region was next on the list with a 4.0% rate of turnover. The remaining 3 capital city regions making up the top list all saw less than 4% of housing stock sell over the year, with NT council regions showing the lowest turnover rates out of the national list.
Regional area’s dominated the top 5 list in QLD; comprising mostly of lifestyle coastal regions where dwelling values have been rising over the last 12 months. Noosa saw the largest proportion of housing turnover over the 12 months to July 18 (7.4%), while further south on the Gold Coast, 7.2% of housing sold over the same period, however the Gold Coast council area covers a much larger geography with over 253,045 dwellings in the region. The Sunshine Coast where housing stock is also considerably higher saw a 6.9% rate of turnover over the year, while 6.3% of total dwellings transacted in both Gympie and Douglas.
4 out of 5 of the SA council regions were in regional areas of the state. Robe had the highest turnover at 7.2%, followed by Mount Gambier (6.7%) and Victor Harbor (6.6%).  While Alexandrina saw 6.2% of dwellings sell over the year, which was slightly lower the capital city region of Campbelltown (6.3%). 
Latrobe in regional Tasmania came in with the highest level of turnover over the year, with 7.4% of total dwellings transacting. The remaining 4 regions came in equal 2nd place with 7.3% of total housing turnover over the 12 months of July, this was across both capital city and regional areas of the state.
In VIC, the top 2 council regions with the highest turnover were in the main capital city region, where Wyndham saw 6.3% of properties sell over the year, followed by Cardinia with a turnover rate of 6.2%. The remaining 3 council regions making the highest turnover list were all in regional VIC, where Latrobe and Baw Baw both recorded a rate of turnover at 6%, while the Bass Coast saw 5.9% of dwellings sell over the 12 months to July 18.
Interestingly, WA’s top turnover area’s over the year were in the mining regions of Port Hedland, Karratha and East Pilbara, given values across these regions saw considerable declines coming out of the mining boom 10 years ago, resulting in less housing turnover; recent years have seen transaction levels increase and declines in the region ease. The capital city areas of Mandurah and Claremont were also on the list where 4.1% and 4.0% of dwellings transacted over the year respectively.
<img src="https://www.corelogic.com.au/sites/default/files/2018-10/20181018_highest_turnover_rates.jpg" alt="CoreLogic Highest Turnover Rates" width="767" height="1205"> 
Analysis includes council region data count of total sales as a percentage over total dwellings over the 12 months to July 2018. Suburbs with less than 1000 total dwellings excluded from the analysis.
Jade Harling is a Research Analyst for CoreLogic
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