<section data-element_type="section" data-id="b086848">
<p>Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.</p>

<p>They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.</p>

<p>The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.</p>
</section>

<section data-element_type="section" data-id="534a164">
<p>Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;</p>

<p>Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.</p>

<p>“Melbourne is regaining momentum,"&nbsp;Stevens said.</p>

<p>"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.</p>

<p>“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."</p>

<p>Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.</p>

<p>Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.</p>

<p>“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”</p>

<p>Kokoda Property will now progress concept design ahead of a future planning process.</p>
</section>


Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

Joel Robinson

First look: Kokoda secures Richmond site for new apartment development

<p data-end="445" data-start="321">Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.</p>

<p data-end="675" data-start="447">In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.</p>

<p data-end="772" data-start="677">“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.</p>

<p data-end="901" data-start="774">"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."</p>

<p data-end="973" data-start="903">[smartcode_project:default project_id=108747 project_image_fid=193023]</p>

<p data-end="1158" data-start="975">Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.</p>

<p data-end="1397" data-start="1160">Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.</p>

<p data-end="1469" data-start="1399">[smartcode_project:default project_id=108747 project_image_fid=284864]</p>

<p data-end="1786" data-start="1471">Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.</p>

<p data-end="1952" data-start="1788">Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.</p>

<p data-end="2008" data-start="1954">"This is paramount in the current market," Pezet says.</p>

<p data-end="2279" data-start="2010">Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.</p>

<p data-end="2351" data-start="2281">[smartcode_project:default project_id=108747 project_image_fid=190743]</p>

<p data-end="2428" data-start="2353">One of the biggest drawcards to Lagoon has been the size of the apartments.</p>

<p data-end="2567" data-start="2430">"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.</p>

<p data-end="2850" data-start="2569">"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."</p>

<p data-end="2907" data-start="2852">Lagoon is set to complete construction in mid-2026.</p>

<p data-end="2958" data-start="2909">[smartcode_project_cta:default project_id=108747]</p>


Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

<p>National apartment developer Abadeen has topped out its debut Gold Coast apartment project,&nbsp;<a href="https://www.apartments.com.au/new-apartments/villea-palm-beach-26-mawarra-street-palm-beach-qld-4221">Villea Palm Beach</a>.</p>

<p>Buyers will move into the $120 million development in early 2026, with builder Emicon now focusing its attention towards the fitout stage of the apartments.</p>

<p><a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a>’s Executive Chairman and Founder, Justin Brown, said topping out at Villea represented an exciting step forward for the company’s national growth and the delivery of a benchmark coastal development.</p>

<p>“Villea Palm Beach represents everything Abadeen stands for — design-led living, premium quality, and the convenience we are bringing for residents to feel part of a perfect beachside community," Brown said.</p>

<p>"It is a particularly special project for us, being our first with spectacular ocean views, just metres from the water and with the addition of ground-floor retail. To reach the top floor is a proud moment, and I am incredibly proud of the Abadeen and Emicon teams for the way they are bringing this project to life for future residents.”</p>

<p>[smartcode_project:default project_id=106840 project_image_fid=336444]</p>

<p>Pierre Saab, Director of builder <a href="https://www.apartments.com.au/builders/emicon">Emicon</a>, said topping out was an exciting milestone and the team is now focused on interiors and detailing.</p>

<p>“This is a fantastic milestone to reach. With the final roof pour complete, we’ve moved into the fit-out stage where the detailing will truly bring Villea to life,"&nbsp;Saab said.</p>

<p>"Standing on the top floor, the team was struck by the stunning 180-degree views of the ocean and all that <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a> has to offer — a daily reminder of the exceptional lifestyle this project will deliver.”</p>

<p>[smartcode_project:default project_id=106840 project_image_fid=336441]</p>

<p>Nick Clydsdale, Director of SRQ, who is managing sales and marketing for Villea, said the milestone marks the next phase of the sales campaign.</p>

<p>“With construction now at its highest point, we are excited to kick start the next phase of the campaign off the back of strong sales momentum driven by the local market,"&nbsp;Clydsdale said.</p>

<p>"Villea is a prized offering in the popular suburb of Palm Beach— ideally suited to owner-occupiers and downsizers seeking a convenient and beautiful coastal lifestyle. At the same time, with forecasts pointing to further price growth across the Gold Coast in 2025, Villea offers investors the opportunity to enter early in the upswing cycle."</p>

<p>[smartcode_project:default project_id=106840 project_image_fid=336442]</p>

<p>&nbsp;</p>

<p>Designed by acclaimed architects <a href="https://www.apartments.com.au/architects/bda-architecture">BDA</a>, Villea comprises 69 two- and three-bedroom residences with light-filled layouts, premium finishes including timber flooring, Fisher &amp; Paykel appliances, and high-performance glazing to maximise comfort.</p>

<p>Many residences capture ocean views, while all benefiting from generous open plan designs and access to shared amenities like a&nbsp;pool, gym, barbecue facilities, and outdoor entertaining spaces, all just 400m from the beach.</p>

<p>A ground floor retail leasing campaign is also underway, with Abadeen set to handpick a curated mix of tenants to enhance the experience for both residents and the wider community.</p>

<p>[smartcode_project_cta:default project_id=106840]</p>


Abadeen tops out Villea Palm Beach

<p data-end="316" data-start="219"><a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a> has officially unveiled its vision for a landmark development in Little Bay.</p>

<p data-end="493" data-start="318">The vertically integrated developer-builder is set to launch <a href="https://www.apartments.com.au/new-apartments/este-jennifer-street-little-bay-nsw-2036">ESTE</a>, a collection of low-rise buildings designed by <a href="https://www.apartments.com.au/architects/hill-thalis-architecture-urban-projects-pty-ltd">Hill Thalis Architects</a>, comprising 94 apartments.</p>

<p data-end="762" data-start="495">Targeted at local downsizers, upgraders, nature lovers, and golf enthusiasts, ESTE offers close proximity to Kamay-Botany Bay National Park, Little Bay Beach, and the renowned St Michael’s Golf Club — widely considered one of New South Wales’ top courses.</p>

<p data-end="889" data-start="764">Many of the apartments, with interiors by Richard Stanisich, boast uninterrupted ocean views — a rare offering in Sydney.</p>

<p data-end="961" data-start="891">[smartcode_project:default project_id=112343 project_image_fid=210130]</p>

<p data-end="1158" data-start="963">Residents will enjoy exclusive access to a private rooftop amenity level featuring a heated infinity pool, a fitness centre equipped with the latest TechnoGym technology, and a sauna.</p>

<p data-end="1382" data-start="1160">Urban Property Group has taken a careful and considered approach to the design and planning stages, ensuring ESTE delivers an architecturally appropriate and sensitive addition to a suburb that rarely sees new development.</p>

<p data-end="1527" data-start="1384">Plans were first submitted to Randwick City Council in late 2022, following concept approval from the NSW Government earlier that year.</p>

<p data-end="1662" data-start="1529">Construction commenced in November 2024, with the project expected to top out in Q4 2025 and reach completion in Q3 2026.&nbsp;</p>

<p data-end="2064" data-start="1664">Urban was one of the first developers in New South Wales to adopt the sought-after 10-year <a href="https://www.apartments.com.au/news/resilience-latent-defects-insurance">Latent Defects Insurance policy from Resilience Insurance</a>. The policy — that can only be taken out by developers or builders and not by individual apartment buyers — covers any structural or waterproofing defects for a full 10 years post-completion, providing buyers with the most comprehensive protection available when purchasing off the plan.</p>

<p data-end="2064" data-start="1664"><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/what-is-latent-defects-insurance-and-is-it-bringing-confidence-to-the-off-the-plan-apartment-market">What is Latent Defects Insurance and is it bringing confidence to the off the plan apartment market?</a></em></p>

<p data-end="2064" data-start="1664">SRM Residential will be launching ESTE in the coming months.</p>

<p>[smartcode_project_cta:default project_id=112343]</p>


Urban Property Group unveils ESTE Little Bay apartments

<p data-end="256" data-start="76">For the first time, prospective off the plan apartment buyers in Sydney's <a href="https://www.apartments.com.au/developments/homebush-nsw-2140">Homebush</a> can purchase with the confidence of a 10-year defect protection for their new apartment building.</p>

<p data-end="480" data-start="258"><a href="https://www.apartments.com.au/new-apartments/bridge-road-residences-homebush-3-5-bridge-road-homebush-nsw-2140">Bridge Road Residences</a>, the latest development by <a href="https://www.apartments.com.au/developers/ventus-group">Ventus Group</a>, is the first new apartment complex in the area to offer the highly sought-after 10-year Latent Defects Insurance, provided by Resilience Insurance.</p>

<p data-end="701" data-start="482">This policy, which applies to all 80 apartments in the new building on Bridge Road, covers homeowners against&nbsp;structural or design defects defects that may arise within the first 10 years after the building's completion. It can only be taken out by the developer or builder of the new development, and not by individual apartment owners.</p>

<p data-end="1107" data-start="703">Half of the apartments in the building have already been quickly snapped up. Buyers have been attracted by the insurance policy, along with the guarantee of a quality build, thanks to the insurance's Technical Inspection Service. This service involves third-party experts visiting the construction site at least once a month to ensure the building is being properly constructed, making defects highly unlikely.</p>

<p>[smartcode_project:default project_id=6989 project_image_fid=2132]</p>

<p>Located on Bridge Road, the development offers a mix of apartment configurations, from studios to three-bedroom apartments.</p>

<p>Apartments have been designed&nbsp;by MX Architects with liveability in mind, featuring open-plan layouts, engineered timber floors, wool-blend carpet in bedrooms, and either ducted or split-system air conditioning depending on configuration.&nbsp;</p>

<p>Many apartments also include north-facing aspects or oversized balconies, enhancing natural light and outdoor usability.</p>

<p>The development includes landscaped communal gardens with a central lawn, shaded seating, and barbecue areas. A rooftop terrace offers views across the city and Sydney Olympic Park. These amenities are designed to provide outdoor spaces for both relaxation and socialising, without increasing maintenance burden.</p>

<p>[smartcode_project:default project_id=6989 project_image_fid=2135]</p>

<p>Bridge Road Residences is less than 10 minutes’ walk from Homebush Station and close to major road links including the M4 and M8.&nbsp;</p>

<p>Residents will have immediate access to Rochester Street’s cafes, grocers, and restaurants, as well as retail and dining hubs at North Strathfield’s Bakehouse Quarter, Strathfield Plaza, and DFO Homebush.&nbsp;</p>

<p>The area is also well-served by schools and tertiary institutions, including Homebush Public School and the University of Sydney.</p>

<p>Construction is being led by <a href="https://www.apartments.com.au/builders/one-way-dc">One Way Development &amp; Construction</a>. They are expecting to complete the build in Q3 2026.</p>

<p>[smartcode_project_cta:default project_id=6989]</p>


Bridge Road Residences brings 10-year defects guarantee to Homebush

Median Price

<html><body>
<p>Median prices and price indexes are very blunt instruments for measuring real estate markets.</p>
<p>When it comes to charting what’s happening in property markets, price data is a long way behind the game and prone to all kinds of statistical absurdities.</p>
<p>Price statistics are part of a chain reaction which means most investors get into markets too late to buy well. After something fundamental changes in a market, causing activity to start rising, it can be six months before it starts to be reflected in prices and even longer before it comes to attention of consumers via the media.</p>
<p>If you’re reading there’s a price boom somewhere, you’ve already missed the best time to purchase by at least 12 months. But that’s the signal that sparks most investors into action.</p>
<p>Fortunately, there’s a better way.</p>
<p>It’s one of clear patterns of real estate that changes in sales activity translates into price reactions, all other things being equal. It’s sounds simplistic but it’s not - it’s merely simple. There’s a correlation between sales volumes and prices rises/falls. But the change in activity comes first and the price reaction follows later.</p>
<p>So there are plenty of lessons to be seen in what’s happening to sales activity in major markets around the country.</p>
<p>Our latest edition of The Price Predictor Index shows quite starkly how much the Sydney and Melbourne markets have declined in terms of activity. </p>
<p>Boom markets seldom extend beyond three years and Sydney’s cycle has inevitably passed its peak and turned south. The vast Sydney metropolitan area, with over 700 suburbs, is bereft of suburbs with forward momentum. Many suburbs now display patterns of sharply declining sales levels – and many of those areas are now experiencing price stagnation or decline.</p>
<p>Melbourne has followed Sydney into the post-boom phase of the property cycle. There has been a marked downturn in the number of growth suburbs in the Greater Melbourne area, down from 105 in our previous quarterly survey to 28. Most of the ranked suburbs now have <em>Plateau</em> markets (sales tapering off at levels below their peak).</p>
<p>While Melbourne generally is fading, one region that continues to pump is the Mornington Peninsula LGA. Bayside suburbs at opposite ends of the price spectrum - Rosebud West (median house price $425,000) and Sorrento ($900,000), and several others in between - have markets where sales activity is rising steadily.</p>
<p>Meanwhile, the City of Greater Geelong is the No.1 market in Victoria. It has plenty of upwardly-mobile suburbs, more than any other LGA in the state and fourth best in the nation (behind three municipalities in South-East Queensland). A standout feature is the growing sales activity in cheaper suburbs such as Norlane, Corio, Belmont and Clifton Springs. This doesn’t surprise, as Geelong thrives on being an affordable alternative to Melbourne.</p>
<p>Torquay on the Surf Coast south of Geelong and the towns of the Bass Coast LGA - including Inverloch, Wonthaggi and Cowes – are also travelling well.</p>
<p>Meanwhile, and this will surprise many people, Adelaide ranks as the leading capital city market now. It has more suburbs with rising sales activity (47) than all other cities. Brisbane is the only serious challenger, with 41 growth suburbs. </p>
<p>Adelaide’s No.1 municipality is the Port Adelaide Enfield LGA. This is one of the largest municipalities in Adelaide, covering the inner north and north-west of the city. Eight suburbs in this LGA have forward momentum, mostly suburbs with median house prices in the range from $380,000 to $510,000. They include Broadview, Northgate, Windsor Gardens and Largs Bay. </p>
<p>Also chugging along nicely is the City of Charles Sturt, one of those solid middle-market areas that have strong property markets amid the steady rise of Adelaide.</p>
<p>The Charles Sturt LGA includes bayside suburbs west of the Adelaide CBD, including rising markets such as Henley Beach (median house price $690,000) and Henley Beach South ($830,000), as well as some more affordable locations such as Findon ($475,000), Kidman Park ($555,000), Semaphore Park ($480,000) and Seaton ($455,000).</p>
<p>Brisbane and South-East Queensland still have good activity happening. The Gold Coast remains the No.1 municipality in the nation in terms of the number of suburbs with growing sales activitity and the No.2 and No.2 LGAs in that regard are found in the Brisbane metropolitan area. </p>
<p>The Greater Brisbane area has a smaller number of growth markets than three months ago, but remains considerably stronger than Sydney and Melbourne. Its leading precincts are two fringe areas on the periphery of the metropolitan area – the Moreton Bay Region in the far north and Logan City in the far south. This suggests the Brisbane cycle is at or close to its peak. But, for now, it remains one of the strongest cities.</p>
<p>The other standout city is Hobart. The last time Hobart captured the national imagination for property investment was in 2003/2004. Most the intervening period has been characterised by economic and population stagnation and an enduring status as the basket case of the national economy.</p>
<p>But all that has changed. Tasmania is a contender again and this has translated into rising performance in the Hobart property market. Sales numbers are up, prices and rents are responding, and investors are starting to take action.</p>
<p>It helps that Hobart has the lowest prices, high rental yields and lowest vacancies among the eight capital cities.</p>
<p> </p>
<p class="Body"><em>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em></p>
</body></html>

terryryder-YECXbqmri2

The correlation between property sales volumes and prices rises: Terry Ryder

<html><body>
<p>At the end of 2016, 7.6 percent of suburbs nationally had a median house value under $200,000 and 5.9 percent of suburbs had a median unit value below $200,000.</p>
<p>To put these figures into some perspective, 11.4 percent of suburbs had a median house value of at least $1 million and 3.0 percent of suburbs had a median unit value of at least $1 million.</p>
<p>Mr Kusher found that over the five years to the end of 2016, a substantial decline occurred in the proportion of suburbs with a median value below $400,000.</p>
<p>As a comparison, at the end of 2011, 53.5 percent of suburbs had a median house value of less than $400,000 and 69.8 percent of suburbs had a median unit value of less than $400,000. By the end of 2016, the proportion of suburbs with a median value of less than $400,000 fell to 41.0 percent for houses, and 55.3 percent for units.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%2011.20.39%20am.jpg" target="_blank">Click to enlarge</a></p>
<p><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/2017/02/16/Screen%20Shot%202017-02-16%20at%2011.20.39%20am.jpg" alt=""> </p>
<p>Looking back at the individual capital cities over the past five years highlights a significant shift in the proportion of suburbs with a median value under $400,000, particularly in Sydney and Melbourne.</p>
<p>Today’s analysis revealed that five years ago, with the exception of Darwin and Canberra, every capital city had at least 20 percent of its suburbs with a median house value of less than $400,000.</p>
<p>At the end of last year, it was virtually impossible to find houses for less than $400,000 in Sydney, Darwin and Canberra while less than 7% of suburbs had a median house value below $400,000 in Melbourne.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%2011.20.46%20am.jpg" target="_blank">Click to enlarge</a></p>
<p><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/2017/02/16/Screen%20Shot%202017-02-16%20at%2011.20.46%20am.jpg" alt=""></p>
<p>We noted that across each city there has been a substantial decline in affordable housing over the past year despite the fact that outside of Sydney and Melbourne there has been only moderate value growth over the period.</p>
<p>Even units recorded a fairly substantial decline in the proportion of suburbs with a median value of less than $400,000 over the past five years.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%2011.20.54%20am.jpg" target="_blank">Click to enlarge</a></p>
<p><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/2017/02/16/Screen%20Shot%202017-02-16%20at%2011.20.54%20am.jpg" alt=""></p>
<p>For those earning a relatively low income in Sydney and looking to buy a house or unit, they are competing for a rapidly declining pool of housing stock across the city.</p>
<p>The pool is also declining across the remaining capitals, albeit not at the same pace of decline as in Sydney.</p>
<p>Key Findings:</p>
<p>• At the end of 2016, looking at both houses and units, 20.5 percent of Sydney suburbs had a median value of less than $600,000 compared to 38.5 percent of suburbs having a median value of at least $1 million. To further highlight deteriorating housing affordability in Sydney, 34.6 percent of suburbs had a median unit value of less than $600,000 at the end of 2016. In each other capital city, a higher proportion of suburbs had a median house value of less than $600,000 than the proportion of suburbs with a median unit value of less than $600,000.</p>
<p>• In 2011, the proportion of total suburbs with a median house value below $400,000 across each capital city was: 21.2 percent in Sydney, 28.9 percent in Melbourne, 40.9 percent in Brisbane, 40.5 percent in Adelaide, 31.1 percent in Perth, 69.2 percent in Hobart, 2.1 percent in Darwin and 1.1 percent in Canberra.</p>
<p>• Units offered a more affordable option highlighted by the proportions of suburbs values below $400,000 at: 38.8 percent in Sydney, 48.2 percent in Melbourne, 81.7 percent in Brisbane, 94.3 percent in Adelaide, 59.8 percent in Perth, 92.7 percent in Hobart, 53.3 percent in Darwin and 44.6 percent in Canberra.</p>
<p>• The proportion of suburbs with a median house value of less than $400,000 at the end of 2016 was recorded at: 0.1 percent in Sydney, 6.3 percent in Melbourne, 29.2 percent in Brisbane, 28.0 percent in Adelaide, 18.9 percent in Perth, 52.1 percent in Hobart and 0.0 percent in Darwin and Canberra. For units the proportions were recorded at: 6.5 percent in Sydney, 31.8 percent in Melbourne, 62.7 percent in Brisbane, 85.1 percent in Adelaide, 46.4 percent in Perth, 88.4 percent in Hobart, 57.6 percent in Darwin and 45.8 percent in Canberra.</p>
<p><a href="https://www.propertyobserver.com.au/images/2017/02/16/Screen%20Shot%202017-02-16%20at%2011.21.01%20am.jpg" target="_blank">Click to enlarge</a></p>
<p><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/2017/02/16/Screen%20Shot%202017-02-16%20at%2011.21.01%20am.jpg" alt=""></p>
<p class="p1"><span class="s1"><em>Cameron Kusher is research analyst for CoreLogic. You can contact him </em><a href="https://blog.corelogic.com.au/about/"><span class="s2"><em>here</em></span></a><em>.</em></span></p>
</body></html>

ckusher-ujnxiKuFQs

The heightened decline in suburbs under the $400,000 median: Cameron Kusher

<html><body>
<p>Darling Point had a great year. Its 12 sales triggered a $5.6 million best median price place on CoreLogic top list of 2017.</p>
<p>Dawes Point topped the apartments list.</p>
<p>Point Piper was excluded from calculations as it did not see the sale of 10 or more houses, but it did rank third with apartments.</p>
<p>Darling Point house sales included a four bedroom at <a href="https://www.realestate.com.au/sold/property-house-nsw-darling+point-124922942" target="_blank">14 Thornton Street</a> that fetched $7.06 million.</p>
<div class="page" title="Page 3">
<div class="section">
<div class="layoutArea">
<div class="column">
<p><span>Houses                        Sales Volume Medium Value                                         </span></p>
</div>
</div>
</div>
</div>
<p>NSW Darling Point Woollahra 12 $5,682,520        </p>
<p>NSW Vaucluse Woollahra 86 $5,471,853               </p>
<p>NSW Bellevue Hill Woollahra 68 $5,316,587             </p>
<p>Vic Toorak Stonnington 124 $4,761,631                   </p>
<p>NSW Longueville Lane Cove 37 $4,259,644             </p>
<p>NSW Tamarama Waverley 14 $4,254,666                 </p>
<p>NSW Dover Heights Waverley 36 $4,133,440           </p>
<p>NSW Mosman Mosman 259 $4,041,599                    </p>
<p>NSW Double Bay Woollahra 12 $3,994,114               </p>
<p>NSW Mcmahons Point North Sydney 20 $3,980,169  </p>
<p>Units </p>
<p>NSW Dawes Point Sydney 13 $3,176,621</p>
<p>NSW Barangaroo Sydney 12 $3,119,329</p>
<p>NSW Point Piper Woollahra 25 $2,989,216</p>
<p>NSW Darling Point Woollahra 85 $2,292,686</p>
<p>NSW The Rocks Sydney 30 $2,025,499</p>
<p>NSW Millers Point Sydney 41 $1,810,199</p>
<p>NSW Cabarita Canada Bay 15 $1,766,719</p>
<p>NSW Seaforth Manly 18 $1,672,213</p>
<p>NSW Palm Beach Pittwater 11 $1,626,911</p>
<p>NSW Milsons Point North Sydney 42 $1,620,837</p>
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Darling Point had highest median value in CoreLogic's best list in 2017

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<div>Sydney median house prices were up by 1% in October to be up by 21% over the year to $1,058,500.</div>
<div> </div>
<div>Sydney median unit prices were also up by 1% in the month to be up by 15% over the eyar to $684,500.</div>
<div> </div>
<div>There has also been moderate growth over the past year for Brisbane houses (4%) and units (3%).</div>
<div> </div>
<div>Interestingly Melbourne has now picked upp the pace, with house prices in the Victorian capital recording growth of 7% in the last quarter alone to be 11% higher over the year. </div>
<div> </div>
<div>On the other hand, some moderate declines were recorded in other cities and regions. </div>
<div> </div>
<div><a href="/images/2015/12/1/Table_1_October_Statistics_Summary.jpg" target="_blank">Click to enlarge</a></div>
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<div><img src="/images/2015/12/1/Table_1_October_Statistics_Summary.jpg" alt="" width="781" height="579"></div>
<div> </div>
<div><span>In other news, there was a very strong result recorded for the Reserve Bank's Financial Aggregates.</span></div>
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<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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Residex market update: Pete Wargent

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<p><span>A median price is a commonly used measure of pricing in the housing market. It represents the </span><span>‘middle’ </span><span>sale price in a list of transactions arranged in ascending (or descending) order. </span></p>
<p><span>For example, if there were eleven house sales across a suburb, the median would be the sixth most expensive sale which means that there would be an equal number of more expensive and more affordable properties. </span></p>
<p><span>It is valuable to look at other measures such as quartiles from time-to-time as this methodology provides a reflection of the more affordable and more expensive segments of the housing market in a region. If a region had 21 sales over a period the lower quartile would be the 6th cheapest sale and the upper quartile would be the 6th most expensive sale. </span></p>
<p><span>The </span><span>difference across the lower and upper quartiles provides us with more than just a view of range in prices; quartile measures also provide an indication of the diversity of housing stock in a region. A good example of this is the high profile suburb of Point Piper in Sydney which has significantly diverse housing stock due to its harbourside location. The lower quartile price is still hefty at $4,720,000 however, the upper quartile comes in at $30,000,000; more than six times the lower quartile price. </span></p>
<p><span>For </span><span>this analysis we are highlighting the capital city suburbs with the least difference between the bottom and top quartile; or the least amount of diversity in housing </span><span>stock.</span></p>
<p><span>For houses, Strathmore Heights in Melbourne has shown the smallest difference at just 5.6% based on sales over the past year. Across the unit market the suburb with the smallest differential between the lower and upper quartile was Albany Creek in Brisbane at just 1.3%. </span></p>
<p><span>Of surprise is the fact that very few of the suburbs listed for either houses or units are relatively new development areas. </span><span>In </span><span>fact across both product types the areas can generally be classified as established suburbs with relatively few new homes over recent years. This would tend to indicate that at the time of development many of the homes built were fairly similar and since that time relatively little in the way of renovation may have taken place.</span><span><br></span></p>
<p><span>The </span><span>results suggest that these suburbs have very little difference between precincts within the suburb. What this means is there are no areas particularly more or less desirable within these suburbs and this is reflected by the fact there is relatively little price variation throughout the </span><span>suburb</span><span>. </span></p>
<p><span>While using a median price as a measure is common across the property industry, by looking at quartiles it enables us to provide greater insights into the dynamics of a particular market. </span><span>These </span><span>insights simply </span><span>aren’t </span><span>available when medians are the </span><span>focus</span><span>. </span></p>
<p><span>The </span><span>results also reiterate that the median represents the typical housing cost but above and below that figure there can be significant variation in quality and cost or there can be very little </span><span>difference</span><span>. </span></p>
<p><a href="/images/2015/07/30/Screen%20Shot%202015-07-30%20at%201.17.20%20PM.png" target="_blank"><span>Click to enlarge</span></a></p>
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<p><a href="/images/2015/07/30/Screen%20Shot%202015-07-30%20at%201.18.38%20PM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/07/30/Screen%20Shot%202015-07-30%20at%201.18.38%20PM.png" alt=""></span></p>
<p><em>Tim Lawless is head of the CoreLogic RP Data research and analytics team and can be contacted <a href="https://blog.corelogic.com.au/author/timlawless/" target="_blank">here</a>.</em></p>
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Suburbs with the least diversity in housing stock: CoreLogic RP Data's Tim Lawless

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<span style="line-height: 1.3em;">I noted</span><span style="line-height: 1.3em;"> recently that it pays to be wary when studies invariably reveal that the "strongest" property price growth over a carefully specified time period proves to be in a random suburb located somewhere to the west of White Cliffs which you've almost inevitably never heard of.</span>
</div>
<div class="separator"> </div>
<div class="separator">Most likely the sample size for the data series is inappropriately miniscule, and the movements in median price are thus inclined to lurch around accordingly.</div>
<div class="separator"> </div>
<div class="separator">There was recently some debate, for example, as to whether property prices have actually been soaring even in regional New South Wales towns where the population has been in decline.</div>
<div class="separator"> </div>
<div>Sure, low interest rates have sparked a boom in Sydney property prices...but out in the sticks and even where the population is declining? <span>I don't believe so - that wouldn't make any sense at all! </span>
</div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">Regional median prices</span></strong></div>
<div class="separator"> </div>
<div>Check out in the two charts below the median price data for Lightning Ridge and Walgett which were two of the quoted suburbs where the median prices have apparently boomed by more than +75 per cent over the past decade despite being home to reportedly declining populations.  </div>
<div> </div>
<div>As you can see there are so few sales in any given month - indeed, there are zero transactions in many instances - that even the smoothed 6mMA average median prices can comfortably more than double (or halve) in the matter of only a few months.<br><br>The median price data is to all intents and purposes meaningless.</div>
<div> </div>
<div><a href="/images/2015/10/06/1%20-%20Lightning%20Ridge%20MEdian%20Prices.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/10/06/1%20-%20Lightning%20Ridge%20MEdian%20Prices.jpg" alt=""></div>
<div> </div>
<div><a href="/images/2015/10/06/2%20-%20Walgett%20Median%20Price.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/10/06/2%20-%20Walgett%20Median%20Price.jpg" alt=""></div>
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<div>
<div>
<strong><span style="text-decoration: underline;">Like-for-like sales</span></strong><br><br>If you want to work out what is really happening to house prices in a suburb, you ideally need to look at resales of the same properties.</div>
<div> </div>
<div>And even then you need to find like-for-like sales or else improvements can skew the data viciously higher. </div>
<div> </div>
<div>Take the below 1,000sqm block in Lightning Ridge which according to my sales history database appears at first blush to have increased in value to by an outlandish 1,400 per cent since 2003! </div>
<div> </div>
<div>Until, that is, you realise that the owner has recently developed the block with two brand new homes - a 4 bedroom house and a 2 bedroom home - with a combined rental of $550/week.<br><br>This is fairly typical of price action which skews the median price data upwards, but it is clearly manufactured rather than endogenous growth.</div>
<div> </div>
<div><a href="/images/2015/10/06/Screen%20Shot%202015-10-06%20at%209.47.04%20AM.png" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/10/06/Screen%20Shot%202015-10-06%20at%209.47.04%20AM.png" alt="" width="861" height="655"></div>
<div> </div>
<div><span>If you look at genuinely like-for-like sales in Lightning Ridge, however, such as the below recent sale on a 1,110sqm block, you'll find that capital growth over the past quarter of a century or so has been much closer to zero per cent. </span></div>
<div><span> </span></div>
<div><a href="/images/2015/10/06/Screen%20Shot%202015-10-06%20at%209.48.32%20AM.png" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2015/10/06/Screen%20Shot%202015-10-06%20at%209.48.32%20AM.png" alt="" width="786" height="571"></span></div>
<div> </div>
<div><span>And it's a similar story in nearby Walgett, with the below house having achieved capital 'growth' over the past 25 years of negative $1,000.</span></div>
<div><span> </span></div>
<div><a href="/images/2015/10/06/Screen%20Shot%202015-10-06%20at%209.50.55%20AM.png" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2015/10/06/Screen%20Shot%202015-10-06%20at%209.50.55%20AM.png" alt="" width="771" height="554"></span></div>
<div>
<div>As for booming prices in Hay, which was another suburb quoted as having boomed by more than +70 per cent despite a declining population, there also appears to be very little exciting to see here when you look at like-for-like resales over time, with total capital growth since 2006 on this example property of only $1,000.</div>
<div> </div>
<div>Click to enlarge</div>
<div><img src="/images/2015/10/06/Screen%20Shot%202015-10-06%20at%209.52.21%20AM.png" alt="" width="773" height="516"></div>
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<div><span> </span></div>
<div>
<div class="separator">Yet anothern NSW suburb which is quoted as having soared in value by more than +70 per cent despite its declining population was Brewarinna. </div>
<div class="separator"> </div>
<div class="separator">Over the past year the suburb has recorded median price growth of precisely +25.00 per cent - with the median price having increased to exactly $100,000 - apparently impressive numbers, even if they do appear to be suspiciously round in nature.</div>
<div class="separator"> </div>
<div class="separator">It's only when you realise that the entire data series is based on the grand total of eleven home sales that you realise how meaningless the median price data really can be.  </div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div class="separator"> </div>
<div class="separator">Now don't get me wrong, I am very much on board with the argument that easy credit flows can be and is one of the primary drivers of dwelling prices.</div>
<div class="separator"> </div>
<div class="separator">Indeed, it is the very fact that today folk can borrow money at a 4 per cent cost of capital instead of double digit mortgage rates which is perhaps <em><strong>the</strong> </em>most significant factor in rising dwelling prices. </div>
<div class="separator"> </div>
<div class="separator">What I am saying, however, is that median dwelling prices in regional towns should be treated with a great deal of caution, if not dispensed with altogether.</div>
<div class="separator"> </div>
<div class="separator">As a penultimate point, I would also question whether a Sydney suburb where the population has ticked down by -0.2 per cent really has a "declining" population, when this is more likely to be simply a shift in the composition of households.</div>
<div class="separator"> </div>
<div class="separator"><a href="/images/2015/10/06/Screen%20Shot%202015-10-06%20at%209.53.53%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2015/10/06/Screen%20Shot%202015-10-06%20at%209.53.53%20AM.png" alt="" width="773" height="339"></div>
<div class="separator">
<div class="separator">Indeed, it is the very <a href="https://petewargent.blogspot.co.uk/2015/03/population-growth-and-property-price" target="_blank">l</a>ack of population growth in some landlocked suburbs - reflective of the fact that they are fully built out - which makes them more appealing for investment purposes. </div>
<div class="separator"> </div>
<div class="separator">On a related note, you'd have a tough time convincing the residents of, say, Orange, Dubbo, Lismore or Parkes of their supposedly declining populations, whatever the suburb level or LGA stats may say...but that's a debate for another day! </div>
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<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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Rubbery suburb median prices: Pete Wargent

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<p>With home values rising across most capital cities, the proportion of home sales below $400,000 continues to trend lower making it harder for price-sensitive buyers to purchase into capital city markets.</p>
<p>Over the 12 months to July 2015, combined capital city home values have increased by 11.1%. Most capital cities also have median prices which are now above $400,000 resulting in fewer more affordable properties available for sale.</p>
<p>37.4% of all home sales nationally were at less than $400,000 compared to 52.0% between $400,000 and $1 million and 10.6% over $1 million over the 12 months to June 2015. Sales below $400,000 were at a record low over the past year and sales above $1 million were at a record high. Focusing just on capital cities, 25.1% of home sales were under $400,000, 60.1% were between $400,000 and $1 million and 14.8% were in excess of $1 million.</p>
<p><a href="/images/2015/08/31/2015-08-30--01--annual-capital-city-home-sales-price-point-over-time.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/08/31/2015-08-30--01--annual-capital-city-home-sales-price-point-over-time.jpg" alt=""></p>
<p><span>Ten years ago, the proportion of sales under $400,000 had fallen sharply relative to 10 years earlier. At this time, 66.2% of houses and 73.8% of units had sold over the year for less than $400,000. In comparison, 4.0% of houses and 2.3% of units across the capital cities sold for more than $1 million.</span></p>
<p><a href="/images/2015/08/31/2015-08-30--03--sales-price-point-year-june-2005.jpg" target="_blank">Click to enlarge</a></p>
<h3><strong>% of sales by price point – year to June 2005</strong></h3>
<p><img src="/images/2015/08/31/2015-08-30--03--sales-price-point-year-june-2005.jpg" alt=""></p>
<p><span>Five years ago, around a third of all capital city house sales (34.1%) and 46.4% of units sold for less than $400,000. At the same time, 10.1% of capital city houses and 3.8% of units sold for more than $1 million.</span></p>
<p><span>Click to enlarge</span></p>
<h3>% of sales by price point – year to June 2010</h3>
<p><img src="/images/2015/08/31/2015-08-30--04--sales-price-point-year-june-2010.jpg" alt=""></p>
<p><span><span>Over the past year, Canberra (7.4%) and Sydney (7.8%) have recorded the lowest proportion of house sales under $400,000 over the year. Hobart (61.2%) was the only city to have more than half of all house sales over $1 million. The unit market offers more opportunity to purchase below $400,000 however, each of Sydney (16.3%), Melbourne (35.9%), Perth (38.5%), Darwin (29.7%) and Canberra (43.3%) recorded a majority of unit sales above this price point.</span></span></p>
<p> </p>
<p><a href="/images/2015/08/31/Screen%20Shot%202015-08-31%20at%203.35.58%20PM.png" target="_blank">Click to enlarge</a></p>
<h3>% of sales by price point – year to June 2015</h3>
<p><img src="/images/2015/08/31/Screen%20Shot%202015-08-31%20at%203.35.58%20PM.png" alt="" width="763" height="303"></p>
<p>There was a record high proportion of houses and units sold for more than $1 million over the past 12 months. In Sydney, more than a third of all houses (36.8%) sold for more than $1 million. Melbourne had the second highest proportion of sales over $1 million (17.7%). Although Melbourne had a record high proportion of houses sold over $1 million it was less than half the proportion of sales in excess of $1 million recorded in Sydney. For units, Sydney had the highest proportion of sales over $1 million (11.6%) and was the only capital city in which more than 10% of unit sales were in excess of $1 million. In fact, Sydney had a higher proportion of unit sales over $1 million than each of Brisbane, Adelaide, Hobart, Darwin and Canberra had for houses.</p>
<p>Although we anticipate that the rate of capital growth will slow over the coming year we still expect values to generally rise. As a result we would expect a further decline in the proportion of homes selling below $400,000.</p>
<p><em>Tim Lawless is head of the CoreLogic RP Data research and analytics team and can be contacted <a href="https://blog.corelogic.com.au/author/timlawless/" target="_blank">here</a>.</em></p>
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Proportion of sales below $400,000 keeps falling: Tim Lawless

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<p><span>Over the 12 months to June 2016, 14.0 percent of all house sales and 7.3 percent of all unit sales were at a price of at least $1 million. </span></p>
<p><span>To put these figures into perspective, just five years ago 7.5 percent of all house sales and 4.0 percent of all unit sales were within this price point. </span></p>
<p><span>Research shows that the combined capital cities saw a much higher proportion of sales of at least $1 million over the past year. </span></p>
<p><span>Across all house sales, more than 1 in 5 sales (20.9 percent) were for at least $1 million compared to 8.9 percent of all unit sales. </span></p>
<p><span>Within the regional areas, the sale price for houses and units are typically lower than those in capital cities.</span></p>
<p><a href="/images/2016/08/19/Screen%20Shot%202016-08-19%20at%202.57.08%20PM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2016/08/19/Screen%20Shot%202016-08-19%20at%202.57.08%20PM.png" alt=""></span></p>
<p> </p>
<p><span>An </span><span>emerging trend worth noting is the fact that the difference between the proportion of house and unit sales of at least $1 million is much narrower in regional areas.</span><span><br></span></p>
<p>In regional areas we tend to see that units are only located in larger regional markets and often are positioned in relatively expensive waterfront locations. Often the proportion of unit sales at, or above, $1 million has been above that for houses. Over the past year, 3.3 percent of all regional house sales and 3.0 percent of all unit sales were at least $1 million.</p>
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<p><span>Over </span><span>the past 10 years in particular, </span><span>we’ve </span><span>seen a substantial rise in the proportion of sales of at least $1 </span><span>million.</span></p>
<p><span>CoreLogic data confirms that in Sydney, over the past year more than 2 out of every 5 house sales was at least $1 million, and in Melbourne, 1 in 5 house sales was at least $1 million. Sydney had a higher proportion of total unit sales of at least $1 million than the proportion of house sales at that price point in each city except for Melbourne. </span><span>(Refer adjacent table which highlights the proportion of sales of at least $1 million over the past year, a decade ago and 20 years ago.) </span></p>
<p><span>There is an element of bracket creep in the numbers, however, as the supply of affordable homes selling has declined significantly over recent years, an increasing proportion of stock is selling for a seven figure sum.</span></p>
<p><a href="/images/2016/08/19/Screen%20Shot%202016-08-19%20at%202.58.55%20PM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2016/08/19/Screen%20Shot%202016-08-19%20at%202.58.55%20PM.png" alt=""></span></p>
<p> </p>
<p><span>Demand </span><span>for premium housing and within the most expensive areas of the country remains buoyant which suggests that over the coming year the proportion of sales at a price point of at least $1 million will continue to </span><span>rise</span><span>. </span></p>
<p><span><em>Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.</em></span></p>
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$1 million property market sales on the rise: CoreLogic's Cameron Kusher

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<p>Median values reflect an estimate of the middle value of all residential properties within a market.</p>
<p>The median is useful for understanding the middle of the market, however across the metropolitan area of our cities there is great deal of diversity in housing values.</p>
<p>Sydney’s median dwelling value as at October 2018 was $833,876 and the SA4 region closest in median value was the Inner South West at $840,805.</p>
<p>Most of the areas that have a median value lower than that of greater Sydney are located some distance from the city centre while those with higher values are typically the areas closer to the city centre or along the coastline.</p>
<p>The city’s most affordable SA4 region is Outer South West ($602,246) and the most expensive is Northern Beaches ($1,383,461).</p>
<p><img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20SYD.JPG" alt=""></p>
<p> </p>
<p>Across Greater Melbourne, the median dwelling value is recorded at $665,044.</p>
<p>The city’s most affordable region is West ($578,922) and the most expensive region is Inner East ($1,127,558).</p>
<p>Outside of the highly desirable Eastern and Inner regions values are remarkably similar across the remaining Melbourne regions.</p>
<p>In fact, only the Inner East, Inner South and Outer East have median values that are higher than that of Greater Melbourne.</p>
<p><img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20MEL.JPG" alt=""></p>
<p>Brisbane’s median dwelling value is currently $491,925.</p>
<p>While that is substantially lower than Sydney and Melbourne you can see that all of the regions relatively close to the city have current median values which are higher than that.</p>
<p>The most expensive region of the city is the West ($659,554) while the most affordable is Ipswich ($350,511).</p>
<p>Only three SA4 regions of the city actually have a median value which is lower than the city-wide median.</p>
<p><img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20BRIS.JPG" alt=""></p>
<p> </p>
<p>Greater Adelaide’s median dwelling value was recorded at $431,554 as at October making it the nation’s most affordable capital city housing market.</p>
<p>Throughout the city’s four SA4 regions, Central and Hills is noticeably more expensive than the rest and North is noticeably cheaper.</p>
<p>Central and Hills and West are more expensive than the city-wide median and South and North are cheaper.</p>
<p><img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20ADL.JPG" alt=""></p>
<p>The Inner region of Perth is overwhelmingly the most expensive region of the city while Mandurah is substantially more affordable than all other Perth regions (note it sits on the southern outskirt of the city).</p>
<p>Greater Perth’s median dwelling value is $451,148 and most of the remaining regions of the city have median dwelling values which sit quite close to the city-wide median.</p>
<p><img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20PER.JPG" alt=""></p>
<p> </p>
<p>Greater Hobart doesn’t have any individual SA4 regions within the capital city boundary, so the chart provides a comparison in median dwelling values between Hobart and the other SA4 regions of the state.</p>
<p>Hobart is substantially more expensive than the rest of the state with the West and North West the most affordable.</p>
<p>The relatively affordable housing costs outside of Hobart are driving demand with the three regional SA4 regions of Tas having seen the highest rates of value growth nationally over the past year.</p>
<p><img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20TAS.JPG" alt=""></p>
<p>In NT, there are only two SA4 regions; Darwin and NT-Outback. As the accompanying chart shows, outside of Darwin the cost of housing is substantially more affordable.</p>
<p><img src="https://www.urban.com.au/images/2018/11/8/CL%20OCT%208%20NT.JPG" alt=""></p>
<p>Overall, the data provided offers a more granular insight into how median values in each city compare to smaller regions across each city.</p>
<p>It also reiterates the importance of analysing markets within smaller geographic areas as housing costs or the housing market performance can be vastly different when you look at different areas of a city.</p>
<p>The data also highlights that desirable areas close to the city centre typically have much more expensive housing costs than the broad capital city median.</p>
<p>Although it is clichéd; location, location, location holds true and purchasers still pay a significant premium for well-located properties</p>
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There is more to house prices than the median: Cameron Kusher

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<p>Apartments in Neutral Bay have started to stabilise following the end of the downturn.</p>
<p>The <a href="/developments/neutral-bay-nsw-2089">median apartment price</a> in the exclusive lower north shore suburb bucked the trend of the wider Sydney market which began declining in 2017.</p>
<p>Prices rose until mid-2018 when the median unit price hit $1,087,5000, according to CoreLogic.</p>
<p><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/2019/10/14/Neutral%20Bay%20CoreLogic.jpg" alt=""></p>
<p>Two months later the median dropped to $1 million.</p>
<p>There was a bounce back in prices in late 2018 before the longer slower decline began, seeing the median drop down to $950,000.</p>
<p>To find out more about the Neutral Bay property market, <a href="/developments/neutral-bay-nsw-2089">click here</a>.</p>
<p> </p>
<p> </p>
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