A long-awaited transformation of a former industrial site in Holroyd has been given the green light, with the NSW Government approving the $1.2 billion Crescent Parklands masterplan that will deliver more than 1,200 new homes just south of Parramatta.

The State Significant Development approval clears the way for a large-scale mixed-use precinct at <a href="https://www.apartments.com.au/new-apartments/1-crescent-street-holroyd-nsw-2142">1 Crescent Street</a>, replacing an underutilised site with a coordinated residential community anchored by new open space, retail, and commercial uses.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> for WA-based developer Tiberius, the approved scheme comprises seven buildings arranged across two precincts. In total, the development will deliver 1,227 apartments, including 201 allocated as affordable housing, alongside approximately 2,500 sqm of retail and 5,000 sqm of commercial space within a mixed-use podium.

<img alt="Tiberius’ Crescent Parklands to deliver 1,200+ homes in major Holroyd transformation" data-entity-type="file" data-entity-uuid="1cc82dd2-8184-4b86-8665-90653147820d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Crescent%20buildings.png?VersionId=2ZmVDc_Rfc4AzQ6ShzZJlvdZnACLerVM" />

The project is structured as a masterplanned precinct rather than a standalone tower. Buildings 1 to 4 will rise from a shared podium with shop-top housing, while Buildings 5 to 7 are positioned closer to the northern park interface as residential flat buildings. The built form has been carefully modulated to balance density with amenity, with the design resolving building separation, solar access, and wind impacts at a precinct scale.

A significant focus of the design is the activation of Crescent Street and the integration of public domain. The submission notes that “individual townhouses [were] removed for community based functions to Crescent Street to increase activation and surveillance,” reinforcing a more urban and publicly engaged street edge. Retail, commercial tenancies, and resident amenity spaces are concentrated along this frontage and within the podium to support day-to-day activity.

The landscape strategy underpins the project’s identity, with a network of pedestrian connections, landscaped corridors, and open spaces linking the site internally and to its surroundings. The design prioritises permeability, delivering “increased uninterrupted flow between spaces for pedestrian access” and improved connections through to the adjoining parklands.

<img alt="Tiberius’ Crescent Parklands to deliver 1,200+ homes in major Holroyd transformation" data-entity-type="file" data-entity-uuid="19282454-ab2f-4e2c-866f-4b35cf4283d4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Crescent%20masterplan.png?VersionId=JQdWGYI5B5R1lzmK4omYOp_8KLPkT4Bv" />

Buildings within the western precinct are oriented toward the park, shaping a residential offering defined by proximity to open space. The design describes this approach as creating apartments “immersed in nature with apartments facing the park,” positioning the landscape as a central organising element of the masterplan.

The broader architectural response addresses both infrastructure and context, with taller elements capturing long-range views toward Parramatta while setbacks and separation distances mitigate impacts on surrounding residential areas. Sustainability initiatives, including solar optimisation, cross-ventilation, and integrated landscape systems, are embedded across the scheme.

Located approximately one kilometre south of Parramatta CBD, the 3.6-hectare site is bounded by Crescent Street, Woodville Road, and Holroyd Sportsground. It benefits from strong access to public transport, including nearby bus routes and train stations, and sits within a rapidly evolving corridor earmarked for increased residential density. The design also strengthens connections between surrounding green spaces, including Holroyd Sportsground and Parramatta Parklands.

The approval follows several years of planning, including a rezoning process that enabled significant uplift in height and density across the site. With determination now secured, Crescent Parklands is positioned to play a major role in delivering new housing supply within Greater Parramatta’s growth area.

Joel Robinson

Tiberius’ Crescent Parklands to deliver over 1,200 homes in major Holroyd transformation

A new State Significant Development application has been lodged over land at <a href="https://www.apartments.com.au/new-apartments/33-43-marion-street-parramatta-nsw-2150">33–43 Marion Street</a>, Parramatta, proposing a high-rise mixed-use tower that leverages planning incentives to deliver a substantial pipeline of new housing, including a dedicated affordable component.

The scheme, currently on exhibition, combines a shop-top housing development with a concurrent rezoning, positioning the site for a significant uplift in density within Parramatta’s evolving southern CBD fringe.

The proposal, designed by <a href="https://www.apartments.com.au/architects/fuse-architecture-0">Fuse Architects</a> for CN Marion, would replace the existing buildings with a 37-storey mixed-use tower, delivering 296 apartments above a retail podium with six basement levels on the 2,376 sqm site.

The residential mix comprises 58 one-bedroom, 207 two-bedroom, and 31 three-bedroom apartments, with communal facilities located on the second level and the rooftop. Ground-level activation is driven by retail and food and beverage tenancies, alongside a publicly accessible through-site link designed to improve pedestrian permeability.

The project includes 194 car spaces, five motorcycle spaces, and 348 bicycle spaces, reflecting a transit-oriented approach in a location directly adjacent to the rail corridor and within walking distance of Harris Park Station.

<img alt="First Look: Plans lodged for 37-storey mixed-use tower with affordable housing at 33–43 Marion Street, Parramatta" data-entity-type="file" data-entity-uuid="3db873ea-62f0-437b-8a6a-eeda154d2dee" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Marion%20building.png?VersionId=YwzBv8OVHwyRnMLGX4slU7QyhTyMZeOX" />

The design adopts a podium-and-tower composition, with a three-storey street wall addressing Marion Street and a reduced two-storey interface responding to adjoining heritage cottages.

A key component of the proposal is the integration of affordable housing under the NSW Government’s in-fill affordable housing pathway, with units to be retained for a minimum of 15 years. This is paired with a broader public domain strategy that emphasises permeability, deep soil planting, and a landscaped through-site link.

“The strategy prioritises a permeable, well-activated public realm and supports a compact tower form to minimise the building’s footprint while enhancing the quality of the ground-level experience,” the design report states.

The proposal includes a central landscaped courtyard, rooftop communal areas, and planting strategies aligned with local environmental conditions and cultural narratives.

<img alt="First Look: Plans lodged for 37-storey mixed-use tower with affordable housing at 33–43 Marion Street, Parramatta" data-entity-type="file" data-entity-uuid="f0e6c165-9967-4d20-9216-e5b8357c85ba" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Marion%20site.png?VersionId=SRod222LwgDmGZJmJY0wTbK39UrWZLSD" />

The site occupies a prominent corner of Marion and Station streets, roughly 100 metres from Harris Park Station, within a precinct earmarked for significant intensification. While the immediate context is characterised by low- to mid-rise buildings and heritage dwellings, planning controls and recent proposals point to a transition toward high-density development.

<section data-scroll-anchor="false" data-testid="conversation-turn-2" data-turn="assistant" data-turn-id="request-WEB:c78224e4-1dd1-48ac-afda-97fe23bac47e-0" dir="auto">
Parramatta has been starved of new apartment supply in recent years. Builder-developers Deicorp and Coronation are the only two currently progressing projects in the suburb. Coronation is nearing completion of <a href="https://www.apartments.com.au/new-apartments/8-phillip-street-2-10-phillip-street-parramatta">8 Phillip Street</a>, which will be the tallest building in Western Sydney once finished, while Deicorp is delivering <a href="https://www.apartments.com.au/new-apartments/cosmopolitan-by-deicorp-parramatta-34-hassall-street-parramatta-nsw-2150">Cosmopolitan</a>, a development comprising over 600 apartments.
</section>

First Look: Plans lodged for 37-storey mixed-use tower in Parramatta

A substantial uplift in height and density is being tested in Lane Cove, with a 225-apartment scheme at 300 Burns Bay Road now on public exhibition as a State Significant Development alongside a concurrent rezoning.

The proposal by <a href="https://www.apartments.com.au/developers/level-33">Level 33</a> would see the demolition of an existing commercial building and associated structures, replaced by a residential development ranging from seven to 15 storeys.&nbsp;

The scheme delivers 225 apartments, including 34 designated as affordable housing, positioning it within the NSW Government’s accelerated Housing Delivery Authority pathway.

The development is arranged as three interconnected residential flat buildings, a response to the site’s long, narrow configuration and sloping topography.&nbsp;

<img alt="First look: 225-apartment Lane Cove tower proposal enters exhibition under State Significant pathway" data-entity-type="file" data-entity-uuid="c325d40c-ead5-45f4-9d77-5a446b23acc0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Lane%20Cove%20pers.png?VersionId=hsCJxT5hj.5kzA6AMInyan1x8mcHeRez" />

<a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a>, the project’s designer, describe a built form that is “divided into three sections, each connected by intermediate infill slots which are recessed to establish greater setbacks and further articulate the development.”

Across the scheme, apartments are supported by communal amenity at ground and rooftop levels, including landscaped open space and a rooftop pool. Basement and lower ground levels accommodate parking, storage, and building services, while a new public park is proposed along the eastern edge of the site, replacing part of the existing built form.

The architectural response has been shaped by the site’s pronounced fall towards the Lane Cove River, with building heights stepping down from west to east to reduce visual bulk and respond to adjoining bushland.&nbsp;

The design report notes that “the development has been carefully designed to integrate with the existing topography with the placement of massing and floor levels adjusted respecting the site’s inherent characteristics.”

<img alt="First look: 225-apartment Lane Cove tower proposal enters exhibition under State Significant pathway" data-entity-type="file" data-entity-uuid="31cc13a5-bc8b-4dc3-b9b1-07c6ec33a82b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Lane%20cove%20site.png?VersionId=NiyH3LimQwiHsE6Q7I5g4Grpr5fRdZaX" />

The project is being advanced through a concurrent rezoning process, seeking to increase the permissible height and floor space ratio beyond current Lane Cove LEP controls of 21 metres. Under the proposal, height would reach up to 54.5 metres, reflecting a shift toward higher-density outcomes in well-located urban areas.

Located on a 7,595 sqm site, the development sits within an established high-density residential pocket characterised by mid-rise apartment buildings set within a bushland setting. The site is within close proximity to Burns Bay Reserve, the Lane Cove River, and an extensive network of open space, reinforcing its strategic positioning for increased housing supply.

Level 33 is doing through the Housing Delivery Authority to try and get its Homebush project of <a href="https://www.apartments.com.au/news/nsw/level-33-adds-to-2-000-unit-pipeline-with-new-two-tower-homebush-plans">more than 300 apartments approved</a>.

The developer has over 2,000 apartments in the pipeline, predominantly in Wollongong.

First look: Level 33 proposes 225-apartment Lane Cove tower

Following the completion of its debut Palm Beach apartment development EVA on Tenth, local Gold Coast developer Chippendale Group has launched its latest project in the in demand area.

Chippendale Group, led by fifth-generation Palm Beach local Daniel Chippendale, has kicked off sales at&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/new-apartments/elise-palm-beach-3-twenty-fifth-avenue-palm-beach-qld-4221&amp;source=gmail&amp;ust=1775884443343000&amp;usg=AOvVaw2GyxnGQKU2XXwTzQ8_VHgi" href="https://www.apartments.com.au/new-apartments/elise-palm-beach-3-twenty-fifth-avenue-palm-beach-qld-4221" target="_blank">ELISE</a>, 68 coastal-infused apartments just 40 metres from the sand on Twenty Fifth Avenue.

[smartcode_project:default project_id=150992 project_image_fid=366023]

Construction is already well underway, a signal of confidence to buyers, following the demolition of the two-storey walk-up and 1990s built house that sat on two sites that have been amalgamated to create a prime corner block.

There are a mix of two- and three-bedroom apartments on offer, starting from $1.4 million.

[smartcode_project:default project_id=150992 project_image_fid=366024]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, Elise responds to its coastal setting through a horizontal architectural form with recessed glazing and layered landscaping. The design aims to balance light, shade and sea breezes while creating a defined presence along the streetscape.&nbsp;

Residences have been planned with an emphasis on outdoor living suited to the Gold Coast climate, including large balconies designed as usable outdoor rooms. Interiors will feature a selection of European appliances and natural materials, including New Zealand wool carpets.&nbsp;

[smartcode_project:default project_id=150992 project_image_fid=366033]

Resident amenities are centred around a wellness-focused ground-level precinct. There will be private access to a heated swimming pool, sauna, cold plunge and gym, alongside a residents’ lounge with dining and entertaining space.&nbsp;

<a href="https://www.apartments.com.au/new-apartments/elise-palm-beach-3-twenty-fifth-avenue-palm-beach-qld-4221">ELISE</a> is located towards the northern end of Palm Beach, which puts it just a short walk to Tallebudgera and Currumbin Creeks. At the end of the street is the newly extended Oceanway, a 36-kilometre pathway that runs up and down the Gold Coast.

Chippendale is targeting a late 2027 completion date for <a href="https://www.apartments.com.au/new-apartments/elise-palm-beach-3-twenty-fifth-avenue-palm-beach-qld-4221">ELISE</a>.

[smartcode_project_cta:default project_id=150992]

Chippendale Group launches Elise, 40 metres from the Palm Beach sand

Sydney developer <a href="https://www.apartments.com.au/new-apartments/31-41-o-hara-street-marrickville-nsw-2204">Third.i</a>&nbsp;has announced a new transport-oriented development in one of Sydney Inner West’s most sought-after metropolitan locations, delivering much needed housing within steps of world-class public transport and vibrant village life.

Located at&nbsp;31-41 O’Hara St,&nbsp;Marrickville, the proposed mixed-use development will include around 300 apartments, with up to 17 per cent dedicated to affordable housing, reinforcing Third.i’s commitment to creating inclusive, well-connected communities that support a diverse mix of residents who keep Sydney’s neighbourhoods thriving.

Located just 100 metres from the new Metro station, the development places residents within minutes of the CBD while offering seamless access to the Inner West’s cafés, retail, and local services. Anchored within a thriving local centre, the project supports everyday living without reliance on cars, while also delivering new public open space for the local community, including a new park and landscaped green areas, alongside high-quality private resident amenities.

Florian Caillon, Head of Acquisitions for Third.i Group, said the project builds on the company’s ongoing work alongside the NSW Government to deliver housing and amenity alongside major transport infrastructure. Amenity includes an activated pedestrianise retail strip that connects Illawarra Road down to the pocket park, and health and wellness facilities.&nbsp;

“Delivering housing of this scale within an established village is a rare opportunity, and few companies have achieved residential outcomes of this size at a village centre," Caillon said.

"We are excited to set a new standard for urban living in the heart of Marrickville,” he said.&nbsp;

The inclusion of affordable housing has been welcomed by frontline workers.

“We are supportive of developments which will allow essential workers like nurses, midwives and carers, the opportunity to live in the communities they care for," said&nbsp;Michael Whaites, General Secretary of the NSW Nurses and Midwives’ Association..

“Many healthcare workers tell us they would like to live closer to where they work, but are being priced out of the market, forcing them to move further away.&nbsp;

“Dedicated apartments for essential workers will support recruitment and retention in local hospitals and aged care facilities, helping to strengthen our health system.”

The project has been declared State Significant Development (SSD) by the Housing Delivery Authority (HDA).

Third.i to deliver 300 apartments in Marrickville TOD precinct

Median Growth

Melbourne apartment values are approaching a $600,000 median after posting further one per cent gains across April, according to property data firm CoreLogic.

The gains followed a 2.1 per cent jump over March and 1.2 per cent across February, taking their rolling quarterly growth to four per cent.

Apartment values in the Victorian capital have been rising since October. They started the year with a $577,206 median. Now the median is at $599,234.

The main gains across the last six months or so across the country&nbsp;have been found in the housing&nbsp;sector, which is expected to taper off as the growth has been deemed &quot;unsustainable.&quot;

And that growth is likely to give a shot in the arm to the more affordable apartment sector.

CoreLogic&#39;s&nbsp;research director, Tim Lawless, says the pace of capital gains in the housing market could slow further over the coming months as inventory levels rise and affordability constraints dampen&nbsp;demand.

&ldquo;The slowdown in housing value appreciation is unsurprising given the rapid rate of growth seen over the past six months, especially in the context of subdued wages growth. With housing prices rising faster than incomes, it&rsquo;s likely price sensitive sectors of the market, such as first home buyers and lower income households, are finding it harder to save for a deposit and transactional costs.&rdquo;

&quot;There is already some evidence of fewer first time buyers in the market, with the Australian Bureau of Statistics reporting a -4.0% fall in the value of first home buyer home loans through February, the first drop since May last year.

<h2>Melbourne apartments and townhouses to secure at less than the growing median</h2>

Melbourne Grand

Price - Two bedroom apartments for $569,000.

[smartcode_project:default project_id=3490 project_image_fid=93147]

One of Melbourne&#39;s most recently completed towers is the $470 million Melbourne Grand, developed by Central Equity.

They had Multiplex deliver the 58 level high-rise apartment building which won the 2020 HIA Victorian Apartment Complex of the Year award.

High-profile architects Guilford Bell + Graham Fisher designed the 646 apartment block at 560 Lonsdale Street, standing some 200 metres above street level.

One bedroom apartments are priced from $489,000, two beds from $569,000 and three bedroom apartments from $869,000.

Sky Garden, Glen Waverley 
 
Price - One bedroom apartments from $498,000

[smartcode_project:default project_id=2881 project_image_fid=148829]

Developed by Golden Age, Sky Garden is the latest mixed-use development in Melbourne&rsquo;s Glen Waverley.

Featuring over 4,000 sqm of internal and external facilities, the development boasts an affordable&nbsp;entry price of just $498,000.

Features include a sky garden, private cinema, gym, heated lap pool and private library.

Apartment values in the Victorian capital have been rising since October



May 2021: How did Melbourne apartment values perform over April?

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The Brisbane apartment market has continued its strong run, with values rising a further one per cent over February, according to CoreLogic's monthly Hedonic Home Value Index.

It follows a 0.4 per cent gain over January and a 0.4 per cent gain over December, which saw its median reach a 2020 high of $390,000.

Now the median sits at $396,183 and is approaching the $400,000 mark.

[smartcode_project:default project_id=90553]

Values in Brisbane are now 1.8 per cent up over the quarter.

CoreLogic's head of research Tim Lawless says there are tentative signs the trend of the housing market performing considerably stronger than the unit market could become less obvious.
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CoreLogic's head of research Tim Lawless says there are tentative signs the trend of the housing market performing considerably stronger than the unit market could become less obvious.


March 2021: How did Brisbane apartment values perform over February?

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Apartments values across Sydney jumped 1.2 per cent over February, according to CoreLogic's monthly Hedonic Home Value Index.

The New South Wales capital was one of the country's strongest performers, joint second with Melbourne and Perth (both +1.2 per cent).

[smartcode_project:default project_id=21882]

The jump in values across Sydney follows -0.1 per cent declines over December and January. The February growth puts Sydney unit values one per cent up on the quarter.

Sydney's median apartment value now sits at $738,254, according to CoreLogic, up from last month's $734,198.

CoreLogic's head of research Tim Lawless says there are tentative signs the trend of the housing market performing considerably stronger than the unit market could become less obvious.

[smartcode_project:default project_id=6798]

Lawless also noted that the weak rental conditions across Sydney and Melbourne unit markets looks to be turning.

"Melbourne unit rents edged higher in February after falling for nine of the previous 10 months", Lawless said.

"The improvement in unit rents across Australia's two largest cities is likely to be at least partially seasonal as demand from domestic students generally rises early in the year, but could also be attributable to more people returning to work in the inner cities as well as workers in some of the hardest hit industries such as hospitality, food and accomodation service returning to employment."
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The New South Wales capital was one of the country's strongest performers, joint second with Melbourne and Perth (both +1.2 per cent).

March 2021: How did Sydney apartment values perform over February?

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The Melbourne apartment market has continued to see price growth at the start of 2021 following a strong run toward the back end of 2020.

The median apartment value was up 0.1 per cent, according to data analytics firm CoreLogic, following from 0.6 per cent gains in December and 0.7 per cent gains in November.

The gain sees the median apartment value hit $577,206. Apartment investors were given a boost over January, with unit rents holding firm having declined 7.8 per cent over the past year.

Urban has taken a look at five apartments blocks to secure under or around the median apartment value.

<h2>1. Collins &amp; Bates, Chadstone</h2>

Price: Two bedroom apartments starting from $520,000.

[smartcode_project:default project_id=3950]

In the 98 residence Collins &amp; Bates, you can secure a two bedroom apartment for well below Melbourne's median apartment value. Prices for two beds start from $520,000, with one bed apartments from $420,000. All three bedroom residences, which started from $1 million, are sold out.

Aultun Property Group are the developers behind Collins &amp; Bates. They had Point Architects design the residences and had C&amp;C Interiors handle the interiors which feature Caesar stone bench tops, porcelain splashbacks, Bosch appliances, wool carpets and engineered oak timber flooring.

<h2>2. Hurstmon, Malvern East</h2>

Price: One bedroom apartments starting from $449,000.

[smartcode_project:default project_id=4807]

Landream's Hurstmon development, set for completion in early 2022, has one bedroom apartments available from as low as $449,000. Their two bedroom apartments are a step up, starting from $795,000.

Designed by Telha Clarke, the 39 residence development is surrounded by stately trees and lush, established gardens.

<h2>3. Verre, Preston</h2>

[smartcode_project:default project_id=7275]

Wolf&amp;Lamb's Verre development, set for completion in early 2022, has one, two and three bedroom residences on offer with prices ranging from $385,000 to $815,000.

The 57 residence complex has been designed by Chamberlain Architects.

<h2>4. Melbourne Grand, Melbourne</h2>

Price: Two bedroom apartments starting from $569,000.

[smartcode_project:default project_id=3490]

Winner of the HIA Victorian apartment complex of the year for 2020, the Melbourne Grand has its two bedroom apartments starting from $569,000, just below Melbourne's median apartment price.

The 652 unit project, developed by Central Equity, offers a range of one, two and three bedroom apartments priced from $489,000.

<h2>5. Volaire, West Melbourne</h2>

Price: Two bedroom apartments starting from $599,000.

[smartcode_project:default project_id=2407]

Just above Melbourne's median price are two bedroom apartments in the 159 apartment development Volaire. The CBUS Property-developed project spanning 10 levels has been designed by Hayball to pay homage to the site's industrial heritage with its architectural façade.

The triangular building features cantilevered balconies and occupies its own island site with a ground floor restaurant.

 
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Apartment investors were given a boost over January, with unit rents holding firm having declined 7.8 per cent over the past year.

Melbourne apartment median value up 0.1% in January: What you can buy for the new median 

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Brisbane’s median house price has hit a record-breaking $720,000, after 4.4 per cent annual house price growth in 2020. 

According to the latest Queensland Market Monitor published by the Real Estate Institute of Queensland, Brisbane’s median house price rose 1.4 per cent in the September quarter to $720,000 across 2751 transactions.

Annually, Brisbane’s median house price rose 4.4 per cent to reach $710,000 with 12,309 transactions.

The REIQ advised Brisbane houses are in the “rising phase of the price cycle.”

The state's most expensive housing market, Noosa was the best performer for median house price growth for a third consecutive quarter, rising 3.6 per cent growth to $895,000. 

Noosa’s quarterly median unit price was also the top performer for units, rising 5 per cent to $705,000. 

The Gold Coast saw a 3.2 percent annual house price rise to September, to $640,000.

The Gold Coast's unit and townhouse median price recorded a 1.8 per cent rise to $420,000.
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The REIQ advised Brisbane houses are in the “rising phase of the price cycle.”

jchancellor

Brisbane’s median house price hits record $720,000

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The median house price in Victoria has recorded its largest increase since 2000, according to data from Real Estate Institute of Victoria’s quarterly December report.  

For the first time, metropolitan houses in Melbourne surpassed a median value of $900,000, jumping by 9.5 per cent from the September quarter to $941,000.  

House prices in middle Melbourne increased by 8 per cent to $1,066,500.

Regional Victoria recording its highest quarterly growth since 2003 with houses at median price of $485,500, up 9.2 per cent from the September quarter, and 7.5 per cent annual growth.

Regional unit prices recorded a 3.5 per cent quarterly increase, to be now 10.3 per cent more valuable than they were 12 months ago.    

Units in metro Melbourne achieved a median price of $639,500, 2.5 per cent higher than the September quarter and an annual increase of 3.8 per cent.  

Following the lifting of intensive lockdowns in October, activity in the property sector returned in Victoria, with an estimated 29,500 transactions in the December quarter, the highest number of quarterly transactions in 2020, surpassing the March quarter at 27,500.  

REIV president Leah Calnan said the Victorian property market has remained “remarkably resilient” in 2020 despite dire market predictions at the on-set of COVID-19.  
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For the first time, metropolitan houses in Melbourne surpassed a median value of $900,000



Victoria's median house price records largest increase since 2000

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Melbourne house values soared a massive 2.4 per cent over October, leaving Sydney trailing in its wake, according to CoreLogic.
Melbourne's huge success over the month also took its quarterly gains higher than Sydney, posting 5.7 per cent gains.
Sydney house values were up another 1.8 per cent in October, with quarterly gains of 5.3 per cent.
The October price surge in houses is the biggest month-on-month gain since May 2015.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/11/1/Capital%20values%20October%202019.jpg" target="_blank">click here</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/1/Capital%20values%20October%202019.jpg" alt="">
Last month the nations two biggest capital city markets <a href="/news/sydney-and-melbourne-compete-to-lead-the-recovery-as-perth-struggles-continue-corelogic-september-update">posted 1.6 per cent gains</a> in house values.
Melbourne's unit market also outperformed Sydney in October, posting two per cent gains to Sydney's 1.2 per cent increase.
Nationally dwelling prices were up 1.2 per cent across all capitals and territories, the fourth month in a row of dwelling value gains.
To enlarge, <a href="https://www.propertyobserver.com.au/images/2019/11/1/Capital%20dwelling%20values%20Oct%202019.jpg" target="_blank">click here</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/1/Capital%20dwelling%20values%20Oct%202019.jpg" alt="">
Perth was the only capital not to see gains, with their value decline over the quarter now approaching Darwin after the Northern Territory capital saw a 0.3 per cent dwelling value increase over October.
Darwin's slight increase was led by houses, up 0.7 per cent. Perth's median dwelling value has now slipped behind Adelaide.
Sydney and Melbourne's dwelling values are approaching the break even point annually after a huge turn around in the markets in the last few months.
 
 
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jrobinson-rf4aSBido9

Melbourne house value growth overtakes Sydney after October surge: CoreLogic

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Adelaide recorded a marginal quarterly decline in house prices, down by 0.3% to $519,517, according to Domain.
Comparatively, however, the 0.3% drop follows five consecutive months of house price increases and the result is up 4.1% year-on-year.
Adelaide was one of the few capital cities to record an increase in median unit prices over the September quarter, jumping 1.6% to $313,074. The quarterly result is 2.6% higher than the same time last year.
Domain quarterly stratified median house prices:
<table border="1" cellpadding="0">
<thead><tr>
<td>
HOUSE
</td>
<td>
SEP 2017
</td>
<td>
JUN 2017
</td>
<td>
SEP 2016
</td>
<td>
QOQ %
</td>
<td>
YOY %
</td>
</tr></thead>
<tbody>
<tr>
<td>
Sydney
</td>
<td>
$1,167,516
</td>
<td>
$1,190,677
</td>
<td>
$1,079,309
</td>
<td>
-1.9%
</td>
<td>
8.2%
</td>
</tr>
<tr>
<td>
Melbourne
</td>
<td>
$880,902
</td>
<td>
$869,598
</td>
<td>
$773,399
</td>
<td>
1.3%
</td>
<td>
13.9%
</td>
</tr>
<tr>
<td>
Brisbane
</td>
<td>
$551,840
</td>
<td>
$552,874
</td>
<td>
$531,767
</td>
<td>
-0.2%
</td>
<td>
3.8%
</td>
</tr>
<tr>
<td>
Adelaide
</td>
<td>
$519,517
</td>
<td>
$520,846
</td>
<td>
$498,971
</td>
<td>
-0.3%
</td>
<td>
4.1%
</td>
</tr>
<tr>
<td>
Perth
</td>
<td>
$554,095
</td>
<td>
$561,391
</td>
<td>
$567,314
</td>
<td>
-1.3%
</td>
<td>
-2.3%
</td>
</tr>
<tr>
<td>
Canberra
</td>
<td>
$723,980
</td>
<td>
$693,962
</td>
<td>
$655,468
</td>
<td>
4.3%
</td>
<td>
10.5%
</td>
</tr>
<tr>
<td>
Hobart
</td>
<td>
$409,592
</td>
<td>
$392,170
</td>
<td>
$356,916
</td>
<td>
4.4%
</td>
<td>
14.8%
</td>
</tr>
<tr>
<td>
Darwin
</td>
<td>
$593,329
</td>
<td>
$615,670
</td>
<td>
$610,510
</td>
<td>
-3.6%
</td>
<td>
-2.8%
</td>
</tr>
<tr>
<td>
National
</td>
<td>
$819,455
</td>
<td>
$823,381
</td>
<td>
$758,367
</td>
<td>
-0.5%
</td>
<td>
10.8%
</td>
</tr>
</tbody>
</table>
The median house rental price in Adelaide remained steady at $360 per week over the September quarter, up 2.9% year-on-year.
However, while house rental prices may have remained flat, Adelaide was the only city to record a positive increase in median unit rental prices – increasing 1.7% over the quarter to $295 per week.
"Second only to Hobart, Adelaide has one of the most affordable median house prices of all capital cities, and the most affordable median unit price," said Domain chief economist, Dr Andrew Wilson.
"Despite experiencing a drop in median house price over the quarter, the solid local market provides investors with growing confidence as it continues to deliver resilient results."
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j.ballantyne1990-6AQqhLzZaK

Adelaide median house price steady: Domain

<html><body>
Glen Waverley has been ranked by Investar recently as the best four year average annual median growth suburb in the country for houses.
The suburb 19 kilometres south-east of Melbourne has had a four year annual increase of 19 percent for its houses.
The median price for these houses is $1.85 million
Property Observer searched for recent residential sales highlighting properties that showed strong growth with resales in the past four years.  
Much of the growth has come from new builds. The property at <a href="https://www.realestate.com.au/property-house-vic-glen+waverley-122480470" target="_blank">30 Tobias Avenue</a> in Glen Waverley (below) sold for $2.215 million last month, having last traded for $1.141 million in 2014, showing a price growth of over 43 percent. It looked like<a href="https://www.onthehouse.com.au/6485693/30_tobias_ave_glen_waverley_vic_3150" target="_blank"> this</a> when last sold.
<img src="/images/2016/08/19/Screen%20Shot%202016-08-19%20at%209.01.53%20AM.png" alt="" width="382" height="263">
An old building however at <a href="https://www.realestate.com.au/property-house-vic-glen+waverley-123068450" target="_blank">43 Whites Lane</a> fetched $826,000 (below) when sold last month, having last traded for $690,000 in 2014, showing a price growth of 9.33 percent. 
Before selling for $690,00 in 2014, it traded two years earlier for $425,000, showing another strong price growth of 26.6 percent.
<img src="/images/2016/08/19/Glen%20Wav%201.jpg" alt="" width="383" height="228">
Two similar townhouse properties at <a href="https://www.realestate.com.au/property-unit-vic-glen+waverley-117605847" target="_blank">18A</a> and <a href="https://www.propertyobserver.com.au/https://realestate.xitech.com.au/Barry_Plant/12463" target="_blank">18B Coomleigh Avenue</a> have shown strong price growth. 
The property (below) at 18A sold for $799,000 in 2014, and 18B went for $996,000 a year later, an appreciation of 20 percent.
<img src="/images/2016/08/19/Glen%20Waverly%202.jpg" alt="" width="385" height="206">
 
Investar's top five performing suburbs for houses with the best four year average annual median growth.
Rank - Suburb - State - Dwelling - the Median Price Median Price Growth 1 yr - the Median Price 4 Yr Average - Median Rent Rental Yield 
 
1. GLEN WAVERLEY - VIC - Five bedroom house - $1.85 million - 7.55% - 19.08% - $580
 
2. SAN SOUCI - NSW - Four bedroom house - $1.695 million - 10.23% - 18.21% - $420
 
3. PORT DOUGLAS - QLD - Two bedroom house - $545,000 - 27.69% - 17.19% - $480
 
4. HEBERSHAM - NSW - Four bedroom house - $550,000 - 14.58% - 16.85% - $435
 
5. DUNDAS VALLEY - NSW - Three bedroom house - $1.094 million - 36.25% - 17.08% - $520
 
 
 
 
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jonathanchancellor-7SQnKwU6yx

Glen Waverley leads the largest increase in median house prices in last four years 

<html><body>
In spite of high growth in Sydney and Melbourne, growth in Australia as a whole is significantly lower than other housing markets around the world – according to the latest Knight Frank Global House Price Index.
Onthehouse.com.au data reveals that the annual median capital growth rate for Australia’s houses and units was just 5.7% and 5.6% respectively. It is likely that nationally, houses and units are similar in their growth rate because there are more units in dense, high growth areas.
The two significant resource markets – Darwin and Perth – have showed poor performance over the last year. Houses in Darwin fell -3.74% in the last year, from $575,000 in May 2014 to $554,000 in May 2015.
The deepening downward trend for these markets can be seen below.
<a href="/images/2015/07/24/G3_Resource_State_Trends.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/24/G3_Resource_State_Trends.jpg" alt="">
The differing trends represent the persistent, two tiered housing market that makes growth across the board seem stable. The Iron Ore price remains low at just US$60 per dry metric tonne, a commodity which averaged over US$100 per unit this time last year. Little has been done to create sustainable employment following low resource prices, and the end of the construction phase in the mining boom.
It is therefore misleading to look at data in such aggregation. The two tiered housing market makes it difficult for policy makers and Reserve Bank to influence housing growth.
With a boom on the south east coast that sets a higher deposit hurdle, and a bust in the resource states that has an unclear future, the state of the Australian housing market seems dismal. However, sustainable house and unit growth are an indicator of the strength of the economy. Though we present a summary of statistics by city metropolitan regions, there are suburbs with idiosyncrasies that make them a promising for investment. These include diverse employment opportunities, planning regulation, quality properties and affordability. Exploring such places outside of the major cities could present a more accessible growth or high yield strategy.
ELIZA OWEN is a market analyst for <a href="https://www.onthehouse.com.au/" target="_blank">Onthehouse.com.au</a>.
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