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

Joel Robinson

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

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

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

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

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

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

The apartment price gap drawing Sydney buyers west

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

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

Median Price

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CoreLogic's head of research Tim Lawless said that Sydney gross rental yields for units was the lowest across the capitals at 3.9 percent. 
<div>Melbourne was not that far behind.</div>
<div> </div>
<div>Sydney's units median price now sits at $665,500.</div>
<div> </div>
<div><a href="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%2011.32.00%20AM.png" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%2011.32.00%20AM.png" alt=""></div>
<div> </div>
<div>
<div data-canvas-width="34.800000000000004">Rental markets continued to run soft, with capital city rents falling a further -1.1 percent over the past three months to be -0.5 percent lower over the year.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">The weakest rental conditions are being experienced in Darwin and Perth, where dwelling rents fell by -9.4 percent and -14.1 percent respectively over the past twelve months.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">Most of the capitals recorded rental falls over the year, however rents have shown some subtle growth in Melbourne, Canberra and Hobart.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">The gross rental yield profile in Sydney and Melbourne has once again pushed to a new record low in August.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">Sydney and Melbourne have each recorded the lowest gross rental yields across the capitals for houses at 2.8 percent, both of which are record lows for the cities.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">Gross rental yields on units tend to be higher compared with houses, however the gross yield for attached housing product is also at a record low, averaging 4.1 percent across the capital cities and ranging from 3.9 percent in Sydney to 5.4 percent in Hobart.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">Mr Lawless said, “The disparity in the performance of housing markets across the capital cities and from region-to-region highlights the diverse economic and demographic factors around the country. “Such diversity, not only regionally, but also across housing types, makes reading the housing market more challenging than ever.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">"Complicating this is the fact that a record amount of new housing construction is under way, with more in the pipeline.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">“With so much new supply being delivered to the market in the form of units, we are already seeing significantly slower growth rates for units compared to houses in a number of cities.</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004">"As these unit projects come to completion and ultimately settlement, the underperformance of new unit stock could create headwinds for the market in certain geographies.”</div>
<div data-canvas-width="34.800000000000004"> </div>
<div data-canvas-width="34.800000000000004"><a href="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%2012.00.19%20PM.png" target="_blank">Click to enlarge</a></div>
<div data-canvas-width="34.800000000000004"><img src="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%2012.00.19%20PM.png" alt=""></div>
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jchancellor-FAypfDUnLy

Record low yields for Sydney and Melbourne: CoreLogic

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After CoreLogic recently reported a median unit price of $292,500 in Hobart, Property Observer went searching for what that got. 
In <a href="https://www.realestate.com.au/property-unit-tas-montagu+bay-122604090" target="_blank">Montagu Bay</a> $295,00 will purchase a two-bedroom, one-bathroom unit on Montagu Bay Road (above). The villa-style unit sits on 283 square metres and has a private, low maintenance private backyard.  
The same price will also purchase a two-bedroom, one-bathroom unit in <a href="https://www.realestate.com.au/property-unit-tas-lenah+valley-122429054" target="_blank">Lenah Valley</a> on Iluka Court (below). The 74 square metre brick unit is currently rented at $280 per week.  
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%204.13.43%20PM.png" alt="">
Also in Lenah Valley and listed for offers above $290,000, the <a href="https://www.realestate.com.au/property-unit-tas-lenah+valley-123346634" target="_blank">Alwyn Road</a> unit (below) offers two bedrooms and one bathroom. The ground floor unit is 88 square metres in size. 
 <img src="/images/2016/08/31/h2.jpg" alt="">
For offers above $295,000, home-buyers can secure a modern two-bedroom, one-bathroom town house in <a href="https://www.realestate.com.au/property-apartment-tas-lindisfarne-123111294" target="_blank">Lindisfarne</a> on Malunna Road (below). The town house measures 98 square metres and sits on 124 square metres of land. 
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%204.19.04%20PM.png" alt="">
In <a href="https://www.realestate.com.au/property-unit-tas-kingston-123056170" target="_blank">Kingston</a> $285,000 will secure a two-bedroom, one-bathroom unit on Breeza Court (below). The 75 square metre unit sits on 236 square metres of land.
<img src="/images/2016/08/31/Screen%20Shot%202016-08-31%20at%204.20.47%20PM.png" alt="">
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jonathanchancellor-7SQnKwU6yx

What the $292,500 median apartment price gets in Hobart

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After CoreLogic recently reported a median unit price of $335,000 in Darwin, Property Observer went searching for what that got.
The two-bedroom, one-bathroom unit at <a href="https://www.realestate.com.au/property-unit-nt-malak-123261102" target="_blank">1/4 Chambers Crescent</a> in Malak (above) will set buyers back $329,000. The low maintenance unit has a two-car attached carport.  
The two-bedroom, one-bathroom unit in Brinkin at <a href="https://www.realestate.com.au/property-unit-nt-brinkin-123244874" target="_blank">7/401 Trower Road</a> (below) will set buyers back $339,000. The modern apartment measures 70 square metres. 
 <img src="/images/2016/08/29/500_trower.jpg" alt="">
The two-bedroom, one-bathroom unit in Darwin on <a href="https://www.realestate.com.au/property-apartment-nt-darwin-123215386" target="_blank">Mitchell Street</a> (below) only costs $330,000. The unit measures 101 square metres. 
 <img src="/images/2016/08/29/500_nt.jpg" alt="">
A similar sized unit in Gray at <a href="https://www.realestate.com.au/property-apartment-nt-gray-123165246" target="_blank">14/7 Hogan Court</a> (below) has been listed for $338,000. The low maintenance unit features a garden shed, low maintenance yard and an in ground spa. 
<img src="/images/2016/08/29/Screen%20Shot%202016-08-29%20at%201.21.45%20PM.png" alt="">
For $329,500 in Johnston at <a href="https://www.realestate.com.au/property-apartment-nt-johnston-123199714" target="_blank">404/205 Farrar Boulevard</a> (below) buyers can secure a two-bedroom, two-bathroom apartment. Built in 2013, the modern space is part of one of Palmerston’s first village-styled apartment complex and is leased at $540 per week until February 2017.
<img src="/images/2016/08/29/Screen%20Shot%202016-08-29%20at%201.23.18%20PM.png" alt="">
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What the $335,000 median apartment price gets in Darwin

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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. 
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. 
Research shows that the combined capital cities saw a much higher proportion of sales of at least $1 million over the past year. 
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. 
Within the regional areas, the sale price for houses and units are typically lower than those in capital cities.
<a href="/images/2016/08/19/Screen%20Shot%202016-08-19%20at%202.57.08%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/19/Screen%20Shot%202016-08-19%20at%202.57.08%20PM.png" alt="">
 
An 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. 
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.
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Over the past 10 years in particular, we’ve seen a substantial rise in the proportion of sales of at least $1 million.
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. (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.) 
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.
<a href="/images/2016/08/19/Screen%20Shot%202016-08-19%20at%202.58.55%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/08/19/Screen%20Shot%202016-08-19%20at%202.58.55%20PM.png" alt="">
 
Demand 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 rise. 
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
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ckusher-ujnxiKuFQs

$1 million property market sales on the rise: CoreLogic's Cameron Kusher

Property 101: Victorian residential property valuations issued

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House prices went higher in the June quarter, with Sydney's median house price jumping back over the $1 million mark, the latest Domain House Price Report suggested. 
It was houses on Sydney's upper north shore that rebounded to be up 5.2 percent over the quarter. The strongest region for annual growth was the city and east, with 12.2 percent house price growth.
Nationally prices rose 1.5 percent from the March quarter, led by Canberra's 3.1 percent quarterly gain and Sydney's 2.4 percent increase.
Prices fell 1.7 percent in Perth and 0.7 percent in Darwin.
Sydney's median house price sat at $1,021,968, up from $997,925 in March, but below the September 2015 record of $1,032,899. 
Units in Melbourne posted strong recent growth, but the national quarterly growth figure was 0.7 percent given declines in Brisbane, Adelaide, Perth and Canberra.
In Sydney, apartment prices rose just 0.6 percent as signs suggest supply is catching up with demand.
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Melbourne’s house prices hit a new record median of $740,995 after almost four years of growth as prices grew 1.5 per cent in the June quarter, taking the annual rate to 7.4 percent – the highest of all capital cities. It was Melbourne's west and north that had the highest annual regional growth, and the inner city which had the highest quarterly growth. The median house price rose in the west and north, at 12.1 percent and 9.6 percent respectively annually. 
Melbourne's unit median price grew 3.5 per cent over the June quarter, but just 2.7 per cent annually, to $450,933.
Adelaide house prices hit a $498,927 record price.
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Sydney's stronger upper north shore prices push Sydney's median house price over $1 million yet again

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New figures from the REIV show the median Melbourne house price increased 3.6 percent to a high of $725,000 in the three months to June 30 - the largest price growth since September 2015.
Double-digit growth was recorded in Camberwell, Prahran and Richmond. Torah, Wyndham Vale and Roxburgh Park also recorded increases with growth experienced in more affordable suburbs such as Hillside, St Albans, Sunshine West and Sunbury.  
Geoff White, chief executive officer of the REIV, said recent national data from the Real Estate Institute of Australia shows that most states, apart from Melbourne and Adelaide, have experienced moderating home prices in the opening months of 2016. 
“Just over a year ago we were seeing quarterly price growth just above five percent,” he said.
“While growth is now below four percent, it is still solid, given market conditions. There have been fewer property listings this quarter, down by around 300 weekly across Melbourne in comparison to last year.
“While fewer sellers are putting their homes on the market, prices are still extremely solid.
“The message to vendors is that the market is still bubbling along nicely – and that, given the sales results and prices, those looking to list their homes should do so prior to spring. ’Now’ is a great time to sell."
MELBOURNE MEDIAN HOUSE PRICES – JUNE QUARTER
 
<table style="width: 404px;" border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="26">
 
</td>
<td colspan="2" width="149">
Top Growth Suburb
</td>
<td width="82">
Jun-16 Median
</td>
<td colspan="2" width="83">
Mar-16 Median
</td>
<td colspan="2" width="64">
Quarterly Change
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
1
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    BRIGHTON
</td>
<td nowrap width="82">
$2,715,000
</td>
<td colspan="2" nowrap width="83">
$2,030,000
</td>
<td colspan="2" nowrap width="64">
33.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
2
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    MOONEE PONDS
</td>
<td nowrap width="82">
$1,265,000
</td>
<td colspan="2" nowrap width="83">
$1,035,000
</td>
<td colspan="2" nowrap width="64">
22.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
3
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    HILLSIDE
</td>
<td nowrap width="82">
$600,000
</td>
<td colspan="2" nowrap width="83">
$505,000
</td>
<td colspan="2" nowrap width="64">
18.8%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
4
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    NORTHCOTE
</td>
<td nowrap width="82">
$1,170,000
</td>
<td colspan="2" nowrap width="83">
$990,000
</td>
<td colspan="2" nowrap width="64">
18.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
5
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    TOORAK
</td>
<td nowrap width="82">
$4,500,000
</td>
<td colspan="2" nowrap width="83">
$3,900,000
</td>
<td colspan="2" nowrap width="64">
15.4%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
6
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    ST ALBANS
</td>
<td nowrap width="82">
$529,250
</td>
<td colspan="2" nowrap width="83">
$462,000
</td>
<td colspan="2" nowrap width="64">
14.6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
7
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    WILLIAMSTOWN
</td>
<td nowrap width="82">
$1,155,000
</td>
<td colspan="2" nowrap width="83">
$1,010,500
</td>
<td colspan="2" nowrap width="64">
14.3%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
8
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    RICHMOND
</td>
<td nowrap width="82">
$1,222,500
</td>
<td colspan="2" nowrap width="83">
$1,072,000
</td>
<td colspan="2" nowrap width="64">
14.0%
</td>
</tr>
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<td valign="bottom" nowrap width="26">
9
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    CAMBERWELL
</td>
<td nowrap width="82">
$2,146,250
</td>
<td colspan="2" nowrap width="83">
$1,890,000
</td>
<td colspan="2" nowrap width="64">
13.6%
</td>
</tr>
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<td valign="bottom" nowrap width="26">
10
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    PRAHRAN
</td>
<td nowrap width="82">
$1,370,000
</td>
<td colspan="2" nowrap width="83">
$1,210,500
</td>
<td colspan="2" nowrap width="64">
13.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
11
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    SUNSHINE WEST
</td>
<td nowrap width="82">
$520,000
</td>
<td colspan="2" nowrap width="83">
$462,500
</td>
<td colspan="2" nowrap width="64">
12.4%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
12
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    SUNBURY
</td>
<td nowrap width="82">
$412,500
</td>
<td colspan="2" nowrap width="83">
$371,250
</td>
<td colspan="2" nowrap width="64">
11.1%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
13
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    AVONDALE HEIGHTS
</td>
<td nowrap width="82">
$792,500
</td>
<td colspan="2" nowrap width="83">
$720,000
</td>
<td colspan="2" nowrap width="64">
10.1%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
14
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    ROXBURGH PARK
</td>
<td nowrap width="82">
$425,000
</td>
<td colspan="2" nowrap width="83">
$387,500
</td>
<td colspan="2" nowrap width="64">
9.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
15
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    SURREY HILLS
</td>
<td nowrap width="82">
$1,835,000
</td>
<td colspan="2" nowrap width="83">
$1,676,000
</td>
<td colspan="2" nowrap width="64">
9.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="26">
16
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    WYNDHAM VALE
</td>
<td nowrap width="82">
$385,000
</td>
<td colspan="2" nowrap width="83">
$352,500
</td>
<td colspan="2" nowrap width="64">
9.2%
</td>
</tr>
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<td valign="bottom" nowrap width="26">
17
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    SOUTH MORANG
</td>
<td nowrap width="82">
$503,000
</td>
<td colspan="2" nowrap width="83">
$461,000
</td>
<td colspan="2" nowrap width="64">
9.1%
</td>
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<td valign="bottom" nowrap width="26">
18
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    COBURG
</td>
<td nowrap width="82">
$870,000
</td>
<td colspan="2" nowrap width="83">
$800,000
</td>
<td colspan="2" nowrap width="64">
8.7%
</td>
</tr>
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<td valign="bottom" nowrap width="26">
19
</td>
<td colspan="2" valign="bottom" nowrap width="149">
   CRANBOURNE NORTH
</td>
<td nowrap width="82">
$455,000
</td>
<td colspan="2" nowrap width="83">
$420,130
</td>
<td colspan="2" nowrap width="64">
8.3%
</td>
</tr>
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<td valign="bottom" nowrap width="26">
20
</td>
<td colspan="2" valign="bottom" nowrap width="149">
    GREENVALE
</td>
<td nowrap width="82">
$650,000
</td>
<td colspan="2" nowrap width="83">
$600,000
</td>
<td colspan="2" nowrap width="64">
8.3%
</td>
</tr>
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</td>
<td colspan="2" valign="bottom" nowrap width="149">
 
</td>
<td nowrap width="82">
 
</td>
<td colspan="2" nowrap width="83">
 
</td>
<td colspan="2" nowrap width="64">
 
</td>
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<td colspan="2" valign="bottom" nowrap width="105">
 
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<td colspan="3" valign="bottom" nowrap width="172">
 
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<td colspan="2" nowrap width="109">
 
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<td width="18">
 
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mick.cee-iDmgDDAmu8

Melbourne property market reaches $725,000 median price: REIV

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Median prices and price indexes are very blunt instruments for measuring real estate markets.
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.
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.
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.
Fortunately, there’s a better way.
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.
So there are plenty of lessons to be seen in what’s happening to sales activity in major markets around the country.
Our latest edition of The Price Predictor Index shows quite starkly how much the Sydney and Melbourne markets have declined in terms of activity. 
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.
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 Plateau markets (sales tapering off at levels below their peak).
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.
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.
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.
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. 
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. 
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.
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).
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. 
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.
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.
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.
It helps that Hobart has the lowest prices, high rental yields and lowest vacancies among the eight capital cities.
 
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>
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terryryder-YECXbqmri2

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

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The REIV has released Melbourne's most affordable suburbs according to their median price.
The lowest median comes from Wyndham Vale, 31 kilometres southwest of the Melbourne CBD.
You can get a <a href="https://www.realestate.com.au/property-house-vic-wyndham+vale-122551150" target="_blank">three bedroom home at 4 Bligh Place</a> (above) in Wyndham Vale, which is available for between $330,000 and $350,000.
 <img src="/images/2016/06/03/image2.jpg" alt="">
Cranbourne also have a few offerings for lower than the median price, with a<a href="https://www.realestate.com.au/property-house-vic-cranbourne-122644442" target="_blank"> three bedroom home with pool</a> (above) on the market for $330,000.
The REIV’s median reveals Melbourne’s most affordable suburbs
1. Wyndham Vale - $350,000
2. Cranbourne - $366,500
3. Sunbury - $370,000
4. Werribee - $380,000
5. Pakenham - $383,000
6. Hoppers Crossing - $410,000
7. Tarneit - $415,000
8. Craigieburn - $417,000
9. Frankston - $426,000
10. Mernda - $427,000
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Victoria's cheapest 10 suburbs 

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The median private treaty price for a home in Sydney is around $855,000 according to CoreLogic RP Data and units at $675,000.
The price is based on 2,899 home sales and 1,616 units.
The median price in Melbourne for homes is $612,000 from 3,604 sales and $492,250 for units from1,568 sales.
<a href="/images/2016/05/30/Screen%20Shot%202016-05-30%20at%205.13.24%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/30/Screen%20Shot%202016-05-30%20at%205.13.24%20PM.png" alt="">
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