Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

&nbsp;

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

&nbsp;

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils signature penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

&nbsp;

&nbsp;

&nbsp;

Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

Price

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Forecasters are setting themselves up to fail when they make very exact predictions about future price growth.
I've long been puzzled by economic forecasters predicting, for example, that Brisbane house prices will grow 7.4% in 2014-15 (not approximately 7% or 8%, mind you, but exactly 7.4%) and then exactly 7.5% in 2015-16 – as QBE has done with its Australian Housing Outlook report, with the help of BIS Shrapnel.
What micro-economic event will occur in 2015-16 to cause Brisbane's average price growth to limp 0.1 of a percentage point higher in that year, compared to the previous year?
Why will Melbourne prices grow exactly 2.2% in 2015-16 and then decrease exactly 0.7% in 2016-17?
What chance the forecasters will be right? I would suggest zero (and that's an exact figure I can predict with confidence).
Has this kind of forecast ever been exactly right in the past? No. I've checked and I can't find an instance of an accurate prediction.
So why do it? Why pretend you can predict city price growth two or three years into the future, down to the last decimal point, when it's not remotely possible to be right?
The most likely answer is: to drum up a bit of publicity, comfortable in the knowledge that most media outlets will publish this nonsense without asking a single question. And even more comfortable in the knowledge that no one will check in three years to see how accurate the forecasts were.
Louis Christopher of SQM Research commented earlier this year that organisations who make big claims or extreme forecasts for publicity reasons rely on "the community's collective amnesia" to cover their tracks. In other words, they can relax, knowing that no one will bother to check on the results of their forecasts, much less hold them to account for them.
Even more alarming about this forecast report is that it is fundamentally based on data from the Real Estate Institute of Australia.
It lists Real Estate Institute of Australia (REIA) figures for the previous decade and then extrapolates forward, with predictions for the next three (financial) years.
The Melbourne figures are particularly rubbery. According to the REIA, Melbourne prices rose a tad under 20% in the financial year that ended on 30 June.
Such a figure is fanciful. All the other major research sources contradict it. RP Data says 9%, Australian Property Monitors says 10% and the Australian Bureau of Statistics says 9%.
Even more spectacular, the REIA claims Melbourne prices rose almost 27% in 2009-10.
As I have written previously in this column, the institute's figures for Melbourne growth are good for a laugh, but no one sensible gives them any credibility.
I've called the REIA to account numerous times in the recent past on the accuracy of its price data – and now the institute refuses to send me their figures. Fortunately, it's not difficult to get a copy of their reports from other sources.
The one thing that does make sense about the QBE report are the general themes, in terms of which locations are likely to rise and which are not.
For example, it suggests Brisbane will be the leading city for growth in the next three years, and that makes some sense. It also suggests that Adelaide and Hobart will do better than Melbourne, Perth, Canberra and Darwin, and that generally aligns with my own thoughts, based on our research.
It forecasts growth in some of the key regional centres, such as Newcastle, Wollongong, Ballarat, Bendigo, Cairns, Townsville, the Sunshine Coast and the Gold Coast – and that also makes sense.
But the exact numbers they have applied to those cities for price growth in the next three years? Give me a break.
Terry Ryder is the founder of <a href="https://hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email</a> him or contact him on <a href="https://twitter.com/hotspotting" target="_blank">twitter</a>.
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terryryder-YECXbqmri2

When people pretend they can predict exact property price growth, there's a 0.00% chance they'll be right

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We know the rate of price growth continues to slow, but the most telling data in the latest November figures CoreLogic RP Data, was the slowing in growth for Sydney apartments.
Sydney continued to drive capital city growth in November, with house values up 14.3% on an annualised basis.
It was running at 14.9% two months ago. It was 15.2% during 2013.
But the apartment segment is nowhere near as strong.
Apartment values in November were up 8.7% over the past year.
But two months it was running at 11.5%. It was 11.6% during 2013.
It is fair to say most Australian cities have now passed their cyclical peak periods.
Sydney's house median sits at $825,000, up from $775,000 at the end of 2013.
Apartment median sits in Sydney at $605,000, up from $557,000 at the end of 2013.
Overall the national capital city average annualised growth for houses has been 8.9% compared to 5.9% for apartments.
Of course let's not forget that just three year ago units were the faster movers in 2012, which was overall pretty ordinary for growth with Sydney house prices up 1.3% annually and units up 2.3% annually.
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jchancellor-FAypfDUnLy

Sydney apartments the weaker link for late 2014 price growth: CoreLogic RP Data

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It seems when buying property in Victoria, the further you are from Melbourne, the cheaper it gets.
According to RP Data, there are 13 suburbs in Victoria that had median house prices under $100,000 over the last 12 months and they are all in the north and north-west parts of the state.
Victorian House Median Prices
<ol>
<li>
<a href="/news">Sea Lake</a> - $70,000</li>
<li>
<a href="/news">Kaniva</a> - $73,000</li>
<li>
<a href="/news">Minyip </a>- $75,000</li>
<li>
<a href="/news">Rainbow</a> - $77,000</li>
<li>
<a href="/news">Ouyen</a> - $78,000</li>
<li>H<a href="/news">opetoun</a> - $80,000</li>
<li>
<a href="/news">Jeparit</a> - $82,000</li>
<li>
<a href="/news">Nyah West</a> - $85,000</li>
<li>
<a href="/news">Coleraine</a> - $88,000</li>
<li>
<a href="/news">Dimboola </a>- $89,000</li>
</ol>
Similarly, the cheapest units are found 100s of kilometres from Victoria’s major metropolitan areas. But these units aren’t just in small rural towns. According to RP Data, some of Victoria’s cheapest units are found in the large rural hubs of Victoria, in places such as Horsham, Mildura and Moe.
Victorian Unit Median Prices
<ol>
<li>
<a href="/news">Newborough </a>- $133,000</li>
<li>
<a href="/news">Moe</a> - $145,000</li>
<li>
<a href="/news">Morwell </a>- $149,000</li>
<li>
<a href="/news">Mildura</a> - $159,000</li>
<li>
<a href="/news">Alfredton</a> - $180,000</li>
<li>
<a href="/news">Maryborough </a>- $182,000</li>
<li>
<a href="/news">Wodonga </a>- $185,000</li>
<li>
<a href="/news">Bairnsdale</a> - $188,000</li>
<li>
<a href="/news">Horsham</a> - $188,000</li>
<li>
<a href="/news">Yarrawonga</a> - $193,000</li>
</ol>
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owisniewski-RiYLqnXfKH

Where can you find the cheapest homes in Victoria?

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Guest observation
Apart from loose monetary policies that lead to toxic lending, such as negative gearing, real estate investments by self-managed super funds (SMSF) and foreign investment, there is another factor behind rapid house price inflation.
Excessive increases in house prices are also caused by unreliable estimates of fair market value price.
To explain in more detail, real estate sales data has its flaws, due to settlement prices not being triggered from actual pre-sale valuations – which remain unchecked throughout the sale process.
What is a pre-sale valuation?   A pre-sale valuation is a comprehensive report put together by a registered valuer. It represents the market value of a property for sale (the price one is expected to get for their property and is subject to any supply and demand curve shifts during the validity period).
During this process, the valuer will look at the land value/ location/aspect, building structure/improvements and condition, building/structural faults, features of the home and recent sales in the area.   For land valuation only, valuers analyse sales of both vacant land and improved properties, making adjustments for the added value of improvements.
When there are unsuitable sales, a valuer will factor in other matters, such as most valuable use of the land, holding costs, taxation, constraints on use such as zoning and heritage restrictions, land size, shape and land features, such as slope and soil type, nearby development and infrastructure and views.
Ignoring the pre-sale valuation
Some results can be triggered from listing prices that may be inflated by matters irrelevant to the value of the property, such as marketing fees, commissions and profits. And yet, banks continue to lend to borrowers and produce flawed valuations to protect their financial position.
The system is obviously skewed towards market manipulation – which in turn has caused rapid increases in house prices and driven the house price values to levels that are economically unsustainable.   The flawed price model system is favoured heavily on the supply and demand side and through rampant speculation – instead of the property's true valuation price. This could easily be addressed by both investors and home buyers gaining access to a pre-sale valuation report (paid for by the seller and part of the contract) as a hedging instrument to minimise the impact of paying too much over the true value price.
This would mean sales data that is relevant and dependable, while dramatically improving bank lending performance.
However, an adjustment valuation for high risk loan to value ratio (LVR) lending, may still be required when the purchase price exceeds the initial valuation price. This would be a shorter version of the report in the sale contract to reflect the purchase price (the new market value price) and to verify that the purchase price was achieved through market demand, than from errors or omissions in the initial report.   As monetary policy makers look for ways to keep the housing market from overheating, it's critically important that the Reserve Bank and Australian Prudential Regulator Authority address the other systemic issues of price inflation.
One is the methodology used to estimate the selling price and the other concerns the reliability of sale price data, but chances of it happening are only likely if house prices come crashing down.
George Rousos is the founder and director of <a href="https://www.itc.nsw.edu.au/index" target="_blank">Industry Training Consultants.</a>  
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jrichardson-uRX5hFdKfN

The other factor behind our skyrocketing prices

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The rate of price growth in the housing market has peaked, with prices to grow modestly over the fourth quarter and beyond, according to LJ Hooker’s Buyers’/Sellers’ Market Index.
Sellers were in favour over the third quarter, but now it’s buyers that may be given the upper hand.
In New South Wales, Victoria and Queensland, the third quarter recorded the ninth of favourable selling conditions. This is indicated by statistics that show sales outstrip listings.
Meanwhile, in Western Australia and the ACT the markets remain balanced, while Tasmania has been in favour of buyers.
While sellers were still in favour in the third quarter, LJ Hooker national research manager Matthew Tiller said that it was important to note that the index was a record result for sellers and may have reached its peak.
“According to the ABS [Australian Bureau of Statistics], the rate of growth of finance commitments peaked in the second quarter after considerable growth over the last three years,” said Tiller.
“As price growth returns to a more sustainable level and listings come on to the market for the spring and summer selling seasons, we forecast a gradual shift back towards a buyers’ market,” he said.
Western Australia, Tasmania and ACT offer immediate future and opportunities for house growth, according to LJ Hooker head of real estate Christopher Mourd.
“LJ Hooker’s network of offices are commonly reporting that many owners are viewing the low interest rate environment as an opportunity to upgrade,’’ said Mourd.
“However, many won’t commit to listing their home until they’ve found their next home. This preference has created a shortage in supply, and heavily weighted the index in favour of sellers going to market now,” he said.
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" alt="">
Source: LJ Hooker
{mijopolls 45}
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jduke-EHk3XBmHkn

Market's price growth rate has peaked: LJ Hooker

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While it seems that the national growth rate has moderated somewhat, a number of capitals are still recording solid growth figures.
However, the month of September was largely flat across the board, according to RP Data. Over the three months to September 2014, Sydney remained the stand out, recording 4.1% price growth, while Hobart dropped by 1.0%.
RP Data national research director Tim Lawless said that September’s overall growth across Australia, at 2.9%, was indeed driven by Sydney and Melbourne. Melbourne recorded 3.7% growth, while Adelaide also saw a strong uptick of 3.1%.
"The annual rate of appreciation in dwelling values has actually been moderating since reaching a peak in April this year," said Lawless.
"The fact that the annual trend of capital growth has been trending lower is an important factor to note as it highlights that the rate of capital gain is no longer accelerating," he said.
He did not that housing market conditions remain buoyant, but said that the 12 month trend is drifting lower since an 11.5% peak in April. 
"A moderating annual trend, as well as the relatively flat September result, is likely to be welcome news to policy makers and potential buyers after the winter months recorded the largest capital gain since 2007.
"The softer September result is also likely to be seen as a positive indicator by the Reserve Bank which has recently raised concerns about the level of value growth and speculative investing in the Sydney and Melbourne housing markets," Lawless said.
CAPITAL CITY SEPTEMBER MONTHLY GROWTH, MEDIAN DWELLING
 Sydney Month: 0.8% Quarter: 4.1%  Year on year: 14.3%  Median: $655,000 Melbourne Month: -0.8% Quarter: 3.7%  Year on year: 8.1%  Median: $535,000 Brisbane Month: 0.7% Quarter: 0.6%  Year on year: 6.4%  Median: $440,000 Adelaide Month: 0.9% Quarter: 3.1%  Year on year: 5.8%  Median: $390,000 Perth Month: -0.4% Quarter: -0.6%  Year on year: 3.2%  Median: $515,000 Hobart Month: -0.3% Quarter: -1.0%  Year on year: 4.6%  Median: $300,000 Darwin Month: -1.0% Quarter: 1.4%  Year on year: 1.7%  Median: $545,000 Canberra Month: -0.5% Quarter: 1.4%  Year on year: 1.7%  Median: $500,000 
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Capital gain no longer accelerating, slowdown will be welcomed by policy makers: RP Data’s latest statistics

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Across Australia, including metro and regional, the August growth recorded was a flat lining 0.02%. However, the results of different cities varied substantially.
Here are the city and country results for median house price movements across the country over the month of August, as recorded by Residex.
CITY
 
MELBOURNE
2.31%
SYDNEY
1.52%
DARWIN
1.13%
HOBART
0.60%
ADELAIDE
-0.10%
ACT
-1.43%
BRISBANE
-1.70%
PERTH
-1.84%
Source: Residex
 
Turn over page for regional/country results.
<hr class="system-pagebreak">
COUNTRY
 
TASMANIA
0.59%
NEW SOUTH WALES
-0.15%
VICTORIA
-0.41%
QUEENSLAND
-0.51%
WESTERN AUSTRALIA
-0.52%
NORTHERN TERRITORY
-0.55%
SOUTH AUSTRALIA
-1.49%
Source: Residex
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