Mark and Roy Makari are expanding their presence in Sydney’s South West with a second major proposal for Leppington, this time envisioning a 900-dwelling mixed-use development just 850 metres from their previously lodged tower trio on Fifth Avenue.

The latest application seeks approval for a multi-building project at <a href="https://www.apartments.com.au/new-apartments/230-rickard-road-leppington-nsw-2179">230 Rickard Road, Leppington</a>. The proposal seeks to establish a new focal point for the precinct through a high-density, transit-oriented development supported by diverse land uses.

According to the Scoping Report prepared for the Department of Planning, the scheme includes around 900 apartments across multiple towers, including 135 dwellings designated for affordable housing. A mix of market and subsidised apartments will be supported by ground-level activation through retail and office space, a childcare centre, and a hotel, forming a comprehensive urban precinct.

<img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="34797362-f3dc-4d84-8235-2657fc5f3bde" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Plan.png?VersionId=Uzckrz9tUpDQl5lX1_WMhjnv16bsr8wG" />

The Design Report by <a href="https://www.apartments.com.au/architects/studiosc-0">Studio SC</a> notes that the project “intends to deliver a high-quality, high-density built form that supports the vision for the Leppington Town Centre, integrating mixed-use outcomes and public domain upgrades.” The development is expected to be delivered in stages, although a precise timeline is yet to be confirmed.

The project will be assessed through a future State Significant Development Application, with the Scoping Report indicating the team will seek design excellence via a competitive process or through an expert design review panel. Early massing diagrams suggest a series of mid- to high-rise buildings framing a central landscaped spine, with emphasis on pedestrian permeability and public space.

The planning documentation flags a strong sustainability agenda, stating that the development will “respond to the urban heat island effect, incorporate water sensitive urban design, and prioritise active transport”.

<img alt="Mixed Use Development 230 Rickard Rd Leppington" data-entity-type="file" data-entity-uuid="369d7b54-1279-4cde-88ec-dcb215594414" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Podium_1.png?VersionId=QArL7B2kkLt63vl5xvL0FNV_ardAlez4" />

The proposal follows in the footsteps of the Makaris’ nearby Fifth Avenue site, where they’ve submitted plans for three towers comprising nearly 500 apartments, with 10 per cent dedicated to affordable housing. That project features commercial podiums, a childcare centre, and a new public park that would occupy more than a third of the site.

Both developments are situated within walking distance of Leppington Train Station and fall under strategic precinct plans promoting higher density housing. The town centre is undergoing substantial transformation, driven by state government planning reforms aimed at fast-tracking housing delivery.

Together, the two projects represent a combined ambition of nearly 1,400 new homes across just under two kilometres of central Leppington.

Staff Writer

First look: 900-home mixed-use precinct planned for Leppington

Leading Australian integrated property development group, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>, has released the signature penthouses crowning its landmark AURA by Aqualand precinct at 168 Walker Street in North Sydney, unveiling Il Magnate and La Divina as the largest and most luxurious penthouses in the suburb.

With prices anticipated to commence from $15 million, and each accompanied by a new Porsche Carrera 911 valued at over $500K, the residences mark the culmination of <a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA by Aqualand</a>’s decade-long journey and the beginning of its final sales chapter. 
&nbsp; 
Their release follows more than $850 million in record-breaking residential sales and the building’s completion and occupation.

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The Richards Stanisich-designed 284 sqm Il Magnate and 224 sqm La Divina penthouses, collectively known as The Icons of AURA, are conceived as grand luxury homes rather than apartments, with expansive proportions, elevated materiality and curated identities that reflect their status as one-off residences.&nbsp;

Il Magnate features a grande master suite, complete with substantial walk-in dressing area and ensuite, three other bedrooms, second ensuite and another bathroom, powder room, open plan kitchen, scullery, substantial dining area and generous living room divided by a feature fireplace, and a multifunction wintergarden, which is ideal for a study and adjoining office breakout space. &nbsp;

Meanwhile, the La Divina residence offers the same amenities, sans the powder room, on a slightly smaller alternate floor plan configuration.

[smartcode_project:default project_id=30959 project_image_fid=358863]

Each occupies half of AURA by Aqualand’s topmost 28th level, comes with four secure car spaces and pairs sweeping Sydney Harbour panoramas with large-scale living spaces, refined detailing and a level of craftsmanship and amenity rarely offered in the North Shore market.&nbsp;

Penthouse residents will also receive Etymon’s ‘Black Key’ private concierge and lifestyle management service, an invitation only offering providing the ultimate in bespoke personalisation, including a range of everyday discrete services, from dinner party management, grocery deliveries, pet feeding or plants watered, dinners, snacks and coffee deliveries, event ticket sourcing, right up to organising travel visas and international airfares. Rarely seen in Australian properties, the service provides residents the benefits of living in a world-class luxury hotel-style home, akin to The Ritz, or the Waldorf Astoria.

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<a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>’s Director, Kirsten Stanisich, said the studio set out to craft residences that feel profoundly considered, contemporary and deeply connected to their setting.

“From the outset, we approached these penthouses with the sensibility of a grand Parisian residence - generous in scale, elegant in proportion and designed to feel more like a handcrafted home than an apartment," Stanisich said.

“Their elevated position and sweeping harbour outlook informed every decision, creating a rare connection between urban sophistication and natural calm. We shaped each space with expressive materiality, sculptural forms and bespoke detailing that invite touch and interaction.&nbsp;

“The result is a pair of residences defined by volume, light and an inherent softness - refined, flexible and deeply personal. These penthouses are unlike anything else in North Sydney, offering a sanctuary of true luxury framed by some of the city’s most remarkable views.”

For Aqualand’s Head of Sales &amp; Marketing, Alex Adams, the collaboration with Porsche underscores the shared ethos behind the residences.

“Aqualand’s collaboration with Porsche underpins both brand’s sharing an obsession with craftsmanship, design excellence, and enduring value," Adams said.

“Our penthouses are created for those who appreciate the finer details and expect the extraordinary at every touchpoint. Including a Porsche simply extends that experience beyond the residence - it’s a continuation of the lifestyle our buyers already live.”&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=292862]

Aqualand’s Managing Director, Jin Lin, said the penthouses represent both the pinnacle of AURA by Aqualand and an important design benchmark for the company’s future pipeline.&nbsp;

“These stunning penthouses reflect the purest expression of Aqualand’s design ambition," Lin said.

“The unparalleled design intent makes them not only the glistening crown of AURA by Aqualand, but the crown of North Sydney itself. They’re essentially a thank you gift to a burgeoning community that deserves this level of quality and architectural consideration.&nbsp;

“We’re leveraging the unrivalled standard set here as the foundation for what comes next, including our upcoming Anderson Street, Chatswood; 15 Blue Street, North Sydney and Central Barangaroo projects. Purchasers of these penthouses will essentially be living inside the blueprint of Aqualand’s future.

“These landmark residences demonstrate how far North Sydney has evolved and the strength of demand for highly curated, bespoke luxury homes. They’re more than penthouses, they’re legacy residences.&nbsp;

“With AURA by Aqualand now a thriving new precinct with residents well and truly settled, and our in-house world-class lifestyle amenity activated, Il Magnate and La Divina represent a once-in-a-lifetime opportunity to secure an extraordinary piece of North Sydney’s future.”

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Joel Robinson

Aqualand launches North Sydney penthouses with free Porsche Carrera 911

<a href="https://www.apartments.com.au/developments/bokarina-qld-4575">Bokarina</a> Beach has quietly evolved into one of the Sunshine Coast’s most complete coastal lifestyle precincts, defined not just by proximity to the ocean, but by how residential living, local retail and everyday amenity are stitched together.&nbsp;

Gardner Vaughan Group’s <a href="https://www.apartments.com.au/new-apartments/bask-bokarina-38-bokarina-boulevard-bokarina-qld-4575">Bask Bokarina</a> now represents the final residential chapter in that transformation.

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Over recent years, the Bokarina Beach precinct has taken shape as a walkable, community-oriented neighbourhood, anchored by beachfront access, Lake Kawana to the west, and a growing mix of cafés, specialty retail and public open space.&nbsp;

With Zinc Bokarina already delivered next door by <a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a> (GVG), Bask is the last opportunity to buy a brand new apartment within the precinct, effectively rounding out a fully formed coastal village.

GVG has positioned Bask to strengthen that lifestyle framework. Nine ground-floor retail spaces are planned beneath the residences, extending Bokarina Boulevard’s existing activity and reinforcing the area’s everyday convenience, from casual dining and coffee to local services, within a short walk of the beach.

[smartcode_project:default project_id=141609 project_image_fid=333359]

The residential component comprises 135 apartments across two buildings, Mydas and Caretta, with a clear shift toward larger three- and four-bedroom layouts and penthouses. That mix reflects a maturing buyer profile in Bokarina, where demand is increasingly led by owner-occupiers and active downsizers seeking space, permanence, and connection to place rather than short-term coastal accommodation.

Design and amenity have followed the same logic. Residents will have access to a heated plunge pool, gym, private dining room with a full kitchen, landscaped communal gardens with barbecues and a firepit, and a shared herb and vegetable garden, facilities intended to support daily use rather than resort-style turnover. Pet-friendly features, including a dog wash bay, acknowledge both buyer expectations and the area’s dog-friendly beach, located around 250 metres from the site.

[smartcode_project:default project_id=141609 project_image_fid=333366]

“Bokarina has become one of the Sunshine Coast’s most desirable beachside communities, and Bask represents the very last chance to buy new in this location,” GVG Director Sam Gardner said.&nbsp;

“Our focus has been to create spacious, functional apartments that meet the needs of locals who want to downsize without compromise, as well as those seeking a full-time coastal retreat.”

Positioned between the Pacific Ocean and Lake Kawana, Bask apartments have been oriented to capture outlooks toward the water or the Glass House Mountains, reinforcing the project’s connection to its natural surroundings. With parks, beachfront paths, hospitals, retail and public transport already in place, Bask arrives at a point where the broader precinct is no longer emerging, but established.

Construction is expected to complete in Q3 this year, with apartments ready to move into this Spring.

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Bask to complete Bokarina’s Sunshine Coast lifestyle precinct as final apartments are released

Property development giant <a href="https://www.apartments.com.au/developers/avid-property-group">AVID Property Group</a> is approaching completion, and sell-out, of its Surry Hills apartment development, <a href="https://www.apartments.com.au/new-apartments/the-rathbone-23-47-flinders-street-surry-hills-nsw-2010">The Rathbone</a>.

The Flinders St project has sold well over half of its 32 apartments, which will sit above two retail spaces.

Now hitting the market are the final 14 one-, two-, and three-bedroom apartments, which start from $1.15 million. AVID is targeting a mid-2026 completion.

[smartcode_project:default project_id=5947 project_image_fid=51208]

AVID General Manager New South Wales Danny Boubli said as more apartments are introduced to increase housing options in inner-city areas, homebuyers are searching for a &nbsp;sense of belonging in addition to location, convenience and value.&nbsp;

“There are very few opportunities for new developments in Surry Hills, and since acquiring the site, we’ve even seen one early purchaser merge two apartments plans together, reflecting the demand for a spacious, premium offering in a prime location,” Boubli said.&nbsp;

“Demand has been strong since we launched to market – we don’t see these final apartments staying on the market for long.”&nbsp;

Architectural firm Studio SC has designed the building which pays homage to the former 1900s Rathbone Terraces that once sat on the 990 sqm island site.

Boubil said the team has made every effort to create "truly liveable apartments", through&nbsp;functional floor plans, security, storage, and the inclusion of quality fittings.

[smartcode_project:default project_id=5947 project_image_fid=51207]

&nbsp;

Sustainable design has also been implemented throughout the development, with natural light flooding each apartment, ventilation throughout, extensive landscaping and where possible, materials with a high level of recycled content and low volatile organic compound paints have been used. &nbsp;

Apartments range in size from 57 sqm for the one-bedrooms to the large-scale 165 sqm three-beds which are priced at $2,575,000.

[smartcode_project_cta:default project_id=5947]

AVID launches final apartments at The Rathbone, Surry Hills

A wave of investment, renewal and precinct growth continues to shape the northern edge of Macquarie Park, where daily life is supported by a rare combination of university activity, corporate employment, major retail, and expansive green corridors. It’s this convergence of amenity and connectivity underpins the setting for <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>’s <a href="https://www.apartments.com.au/new-apartments/la-vera-94-talavera-road-macquarie-park-nsw-2113">La Vera</a>, which has now topped out and is tracking toward completion in mid-2026.

Within this pocket of the precinct, residents move easily between the area’s key anchors. Macquarie Centre, home to more than 360 retailers, fresh food offerings, dining and entertainment, sits at the heart of local convenience and functions as a major transport interchange. The Metro, T1 rail line and extensive bus network place much of Sydney within quick reach, while surrounding arterial links support direct access to neighbouring districts.

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Green space remains a defining feature of the immediate environment. Lane Cove National Park stretches along the northern boundary of the precinct, offering bushland trails, cycling routes and quiet riverfront pockets. Shrimptons Creek and the campus grounds of Macquarie University extend these recreational networks, softening the urban setting and creating a daily connection to nature that informs the project’s architectural response.

<a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> have shaped La Vera around these contrasts. The building’s northern elevation adopts an organic, curvilinear form that mirrors the natural topography of the national park. Three sculpted forms soften the tower’s profile and encourage a stronger transition between indoor living areas, balconies and the broader landscape.

[smartcode_project:default project_id=134951 project_image_fid=223737]

Cox Director Felipe Miranda says the building’s outlook played a central role in the design process.

“The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park… The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies,” Felipe Miranda of Cox Architecture said.

Toward the city-facing side, the design shifts to a more urban expression. A gridded facade and extensive glazing capture CBD views, creating a dual strategy that blends ecological outlooks with metropolitan orientation.

[smartcode_project:default project_id=134951 project_image_fid=5827]

La Vera delivers 169 residences across one- to four-bedroom layouts, reflecting the needs of young families, downsizers, first-home buyers and investors seeking long-term certainty within a high-amenity location. From the project, residents can walk to Macquarie University, Macquarie Hospital and nearby corporate offices, reach national park trails within minutes, and enjoy retail and dining without relying on a car.

The project is delivered by Urban Property Group, a 4.5-star iCIRT-rated developer-builder with more than three decades of experience. The company has become a leader in adopting 10-Year Latent Defects Insurance (LDI), first introduced on its Parq Bexley development and now embedded into its pipeline.

[smartcode_project:default project_id=134951 project_image_fid=223727]

La Vera is the first development in Macquarie Park approved to offer this 10-year LDI policy, adding another layer of protection for purchasers and reinforcing the transparency of the construction process.

Urban Property Group CEO Patrick Elias says this assurance has become increasingly important for buyers navigating the off-the-plan market.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been… Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share,” Urban Property Group CEO Patrick Elias said.

Urban Property Group's in-house construction team is forecasting a mid-2026 completion, with <a href="https://www.apartments.com.au/project-marketer/home789">HOME789</a> appointed as the project marketer.

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La Vera delivers a nature-connected address within Macquarie Park’s core

Housing Values

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EXPERT OBSERVER
There has been a surge in demand for properties located in coastal and hinterland ‘lifestyle’ regions and towns.
While a great deal has been written about the resurgence in the so called ‘sea change’ phenomenon, many of the prime hinterland regions within close proximity to Australia’s capital cities have also benefited from a renewed ‘tree change’.
Here is an analysis on the trend around tree change activity in Australia, with some interesting results.
I found that although the pace of capital gains is generally easing, a variety of factors have contributed to renewed demand for properties outside the cities. A large part of it must be attributable to the ‘wealth effect', where home owners (particularly those in Sydney and Melbourne) have seen a substantial wealth boost via their property holdings. Couple this with a large cohort of baby boomers seeking out holiday homes or relocation options as they shift into retirement age, and the demand picture becomes more pronounced.
<img src="https://www.urban.com.au/images/2018/9/27/Timothy%201.JPG" alt="">
Perhaps another element is the growing acceptance and popularity of ‘telecommuting’ thanks to faster internet speeds, wider employer acceptance of working from home and broader availability of technologies such as VPN, which provides a secure virtual office environment for staff working remotely.
A final piece of the puzzle comes back to housing prices and affordability. It’s often the case that hinterland properties will provide a lower entry point to the market relative to their coastal or big city counterparts, especially when you take into consideration that typical block sizes are much larger. Looking across some of the most popular hinterland regions adjacent to the capital cities shows a broad range of values and historic growth conditions.
<img src="https://www.urban.com.au/images/2018/9/27/Timothy%202.JPG" alt="">
Across the selected regions, the hinterland areas of the NSW Southern Highlands and the Macedon Ranges in Victoria show the most significant value premium. The median dwelling value across the Southern Highlands of NSW is just over $735,000, while the Macedon Ranges have a typical dwelling value of roughly $700,000 – not cheap, but both regions show a lower median dwelling value relative to their respective capital cities.
At the other end of the spectrum is Tasmania’s Central Highlands, where the typical house is worth just over $200,000. The regions to see the strongest growth over the past five years are generally very different to the best performers over the past twelve months. The hinterland areas peripheral to Sydney have dominated the capital gain stakes over the past five years, however growth in those areas has slowed substantially over the past twelve months.
The regions to see the strongest growth over the past five years are generally very different to the best performers over the past twelve months. The hinterland areas peripheral to Sydney have dominated the capital gain stakes over the past five years, however growth in those areas has slowed substantially over the past twelve months.
<img src="https://www.urban.com.au/images/2018/9/27/Timothy%203.JPG" alt="">
The past twelve months has seen the Gold Coast hinterland record the fastest rate of capital gain, with dwelling values up 8.1%, followed by Vic’s Macedon Ranges where growth seems to have rippled away from the previously more popular Yarra Ranges.
Gold and Sunshine Coast hinterland regions
The South East Queensland hinterland regions are continuing to see values rise, although the trends are moving in different directions across the Gold Coast and Sunshine Coast hinterlands. The Sunshine Coast hinterland has seen the annual pace of capital gains ease from 6.0% a year ago to 2.2% over the twelve months ending August 18. Conversely, the Gold Coast hinterland is recording an acceleration in capital gains, with the pace of annual growth rising from a recent low of 1.2% per annum earlier this year to the current annual pace of 8.1%.
<img src="https://www.urban.com.au/images/2018/9/27/Timothy%204.JPG" alt="">
Sydney and Northern New South Wales hinterland regions
Each of the selected hinterland areas of NSW have seen a consistent reduction in the pace of capital gains, with the Blue Mountains slipping into negative annual growth for the first time since early 2012. Dwelling value growth was stronger across the markets adjacent to the Sydney metro area over the recent growth cycle. Both the Blue Mountains and Southern Highlands have seen dwelling values rise at slightly more than 9% per annum over the past five years, pushing dwelling values substantially higher relative to hinterland region of northern NSW where the average annual growth rate has been much lower at 3.9%.
<img src="https://www.urban.com.au/images/2018/9/27/Timothy%205.JPG" alt="">
 Melbourne hinterland regions 
The Yarra Ranges have substantially outpaced the Macedon Ranges based on capital gains over the past five years. Properties within the Yarra Ranges have recorded an average annual rise of 7.8% over the past five years compared with the Macedon Ranges where values have tracked 2.6% higher each year on average. Despite the strong capital gains across the Yarra Ranges, Macedon Range properties hold a $26,000 premium over Yarra Range properties based on the median value across both regions.
<img src="https://www.urban.com.au/images/2018/9/27/Timothy%206.JPG" alt="">
Hobart and Adelaide hinterland regions
While growth conditions slow down across Hobart, the Central Highlands has seen some momentum gathering with the pace of capital gains accelerating over the past year. Values were up 6.8% over the past twelve months compared with the five-year average rate of growth tracking at 5.1%. The Adelaide Hills shows far less volatility, however values are in across the hinterland region of Adelaide continue to trend higher, up 0.8% over the past twelve months, down from 2.1% annual growth a year earlier.
<img src="https://www.urban.com.au/images/2018/9/27/Timothy%207.JPG" alt="">
Perth hinterland regions 
Perth’s eastern hinterland regions have shown a similar trend the broader Perth metro region, with dwelling values generally tracking lower since 2015. The Kalamunda region has seen dwelling values fall by 15.9% since the market peak, while values have fallen even further across Mundaring, down 19.9% since the market peak. The silver lining to the downturn is that housing prices are now around the same as they were in 2006/2007.
<img src="https://www.urban.com.au/images/2018/9/27/Timothy%208.JPG" alt="">
Tim Lawless is CoreLogic's head of research
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tlawless-5VLUrbAk9s

Tree change and hinterland property markets back in vogue: Tim Lawless 

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Sydney house values fell 9.2 percent over the past year, their largest annual fall since May 1983.
Overall Sydney dwelling values fell 8.1 percent over the past year.
Unit values declined by 5.5 percent.
<img src="https://www.urban.com.au/images/2018/12/3/CoreLogic%20Hob%20vs%20Per%201.JPG" alt="">
Headlining the November results, the CoreLogic hedonic home value index recorded its weakest month-on-month change in dwelling values since the Global Financial Crisis.
National dwelling values slipped 0.7 percent lower in November, led by larger falls in Sydney (1.4 percent) and Melbourne (1 percent) where the pace of decline has accelerated over the past month.
Nationally, dwelling values are down 4.2 percent since peaking in October last year, with dwelling values retracing back to levels last seen in December 2016.
<img src="https://www.urban.com.au/images/2018/12/3/CL%20Dec%203.JPG" alt="">
CoreLogic head of research Tim Lawless said the downwards pressure on national dwelling values is largely confined to Sydney and Melbourne which together, comprise approximately 55 percent of the value of Australia's housing asset class.
Since peaking in July last year, Sydney's housing market is down 9.5 percent which is on track to eclipse the previous record peak-to-trough decline set during the last recession when values fell 9.6 percent between 1989 and 1991.
Melbourne dwelling values peaked four months later than Sydney, in November 2017, and have since fallen by 5.8 percent through to the end of November 2018.
"Conditions across the Australian housing market are increasingly diverse," Lawless said.
Dwelling values are trending higher across five of the eight capital cities, albeit at a relatively slow pace compared with the previous surge in Sydney and Melbourne.
"Hobart and regional Tasmania continue to be the standouts for capital gain, with values up 1.7 percent across both regions over the past three months".
Tim Lawless points towards several factors that are influencing the downwards trend in Sydney and Melbourne, while other regions continue to see some level of growth.
"The tightening in finance conditions has been more pronounced across the investor segment of the market, where Sydney and Melbourne have recorded much higher concentrations of investment demand.
"Additionally, housing affordability constraints are more pronounced in these markets and rental yields are substantially lower, indicating an imbalance between rental values and dwelling values.
"The ramp up in housing supply has been more pronounced in these markets against a backdrop of slowing demand, and Sydney and Melbourne have also been more affected by the reduction in foreign buying activity."
"As a consequence of less market activity, advertised listings have surged higher, providing buyers with ample choice which provides for a strong negotiation position on price.
"The rebalancing towards buyers over sellers in Sydney and Melbourne is clear across CoreLogic's vendor metrics, with clearance rates tracking in the low 40 percent range while private treaty sales are showing substantially longer selling times and larger rates of discounting than they have over recent years."
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j.ballantyne1990-6AQqhLzZaK

Sydney house values fell 9.2 percent over the past year, their largest annual fall since May 1983.

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Melbourne is the best performing capital city over the three months to September with a 7.4% rise in dwelling values, according to CoreLogic RP Data's Home Value Index.
Melbourne houses had a gross rental yield of 2.9% and units on par with Sydney at 4.1%
Highest rental yields were recorded in Darwin, with houses reaping a grow rental yield of 5.4% and units at 5.8%
CoreLogic RP Data head of research Tim Lawless said the first month of Spring provided mixed results across the capital city housing markets with the headline results showing a 0.9% rise in capital city dwelling values over the month, and a 4.0% increase over the September quarter.
"Across the capital cities, the month-on-month results ranged from a 2.4% rise in Melbourne dwelling values, through to a 1.9% fall in values across the Hobart market. Australia’s largest and most expensive capital city housing market, Sydney, posted a month-on-month gain of just 0.1% in September," 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%.  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%."
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mick.cee-iDmgDDAmu8

Melbourne takes the baton of strong housing price growth: CoreLogic RP Data

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Detached housing values in Melbourne have increased 12.3% higher over the year, eclipsing the 4.8% rise in unit values.
CoreLogic RP Data’s head of research Tim Lawless said the difference in value increases between houses and units could be related to supply.
"The underlying land component driving detached housing values higher at a time when new apartment supply has seen a substantial boost from new construction,” Mr Lawless said. 
According to the CoreLogic RP Data July Home Value Indices 2015 report, Melbourne's capital rate gain surpassed Sydney over the last three months posting 6.1% to the three months ending July 31. Capital gain in Sydney for the quarter ams in at 5.4%.
Mr Lawless said growth in Sydney wasn’t quite as strong over the rolling quarter, which is the highest rate of growth since the March quarter this year (5.8%). 
“To date, the capital cities have seen remarkable differences over the growth cycle which broadly commenced at the end of May 2012 and since that time dwelling values across our combined capitals index have increased by 30.4%," Mr Lawless said.
"Sydney values are 47.9% higher over the current cycle and Melbourne values are 32.1% higher while every other capital city has seen growth of less than 13% over the same period. This highlights the extent to which the Sydney and Melbourne markets have outperformed other markets over the past three years. 
“While Sydney and Melbourne values continue to boom, the next best performing city, Brisbane, has seen dwelling values rise by just 3.9% over the past twelve months. Based on the median dwelling price, Sydney prices are now 72% higher than Brisbane’s and Melbourne’s are 24% higher,” he said.
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Developments

New apartments

New townhouses

News

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