A landmark former orphanage site in Surrey Hills could be transformed into a new residential community under plans lodged by <a href="https://www.apartments.com.au/developers/antipodean-land-developments">Antipodean Land Developments</a> that would deliver 76 apartments and townhouses while restoring some of the suburb's most significant heritage buildings.

The burgeoninng Melbourne-based developer has submitted plans for the 9,158 sqm site at 1 Kent Road and 24 Durham Road, home to the former St Joseph's Home for Destitute Children, a historic institutional complex dating back to the late 19th century. The proposal seeks to adaptively reuse several heritage buildings while introducing two new four-storey residential buildings set within extensive landscaped grounds.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> and Kerstin Thompson Architects, the project has been conceived as a contemporary residential village embedded within a restored heritage precinct. The development team describes the design approach as "The Village in the Garden," with new buildings positioned among mature landscaping by OCULUS and significant heritage structures.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="44ec8c1b-c0b6-44ae-859e-5811b3e6a023" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%281%29.png?VersionId=p.p1_KFh4iQoV4nisdnPfQBAsWNi7m79" />

The proposal would deliver 76 dwellings comprising a mix of apartments and duplex-style residences, significantly increasing housing supply on one of the largest privately held residential landholdings in Surrey Hills. The development includes 127 car spaces, 24 bicycle spaces and more than 1,000 sqm of communal amenity, with the existing chapel building earmarked for conversion into resident facilities.

According to the planning submission, the project centres on the restoration and adaptive reuse of the site's most significant heritage assets, including the original c.1889 St Joseph's building, the chapel designed by architect Augustus Andrew Fritsch, and the historic brick perimeter walls and entry gates. The proposal also incorporates the retention of other contributory buildings including the former infirmary and school building.

Tract Consultants, in the planning report accompanying the application, said the scheme had been shaped through extensive heritage analysis and design development.

"The shared vision for the Site by the project team has culminated in a scheme which successfully breathes life back into a historic site while delivering upon the objectives of Victoria's Housing Statement in a carefully curated and contextually responsive manner."

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="7263b7d8-95ea-400f-9531-6ca7d22c3c33" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design%20%282%29.png?VersionId=4cR1tiWOsDpgxEOwZi5vVFcyvvOsYkIE" />

The proposal is being assessed under Victoria's Significant Residential Development with Affordable Housing pathway. As part of the application, three per cent of the project's residential development cost would be contributed to the Social Housing Growth Fund. The development would also provide a diverse mix of one, two and three-bedroom residences targeting a broader range of buyers than typically found in Surrey Hills' detached housing market.

Sustainability initiatives include an anticipated 66 per cent BESS score, natural cross-ventilation to 80 per cent of apartments, 28 per cent deep soil landscaping and a canopy cover outcome exceeding local planning requirements. The proposal also sets aside more than 1,083 sqm for communal indoor and outdoor resident amenity spaces.

<img alt="First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills" data-entity-type="file" data-entity-uuid="33fad46f-fe26-4d0a-acfd-6b776e1c6a3d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Untitled%20design.png?VersionId=D9F6WVSyYCtGvSUmith35LRp6R7PQkw_" />

Planning documents describe the property as one of the largest underutilised residential sites in Surrey Hills, arguing it presents a rare opportunity to introduce "missing middle" housing in an established inner-eastern suburb while preserving and revitalising a significant heritage precinct.

Antipodean Land Developments has built a reputation for design-focused residential projects across Melbourne, particularly in the medium-density sector. Previous developments include Neighbourhood in Brunswick East, delivered with Breathe Architecture, and Balfe Park Lane, designed by Kerstin Thompson Architects.

They've been very active in site acquisition as they build out their future development pipeline. They recently launched Thornubury House, 45 apartments above a mix of commercial, retail, and food and beverage tenancies, and have plans for a boutique project in Fitzroy and another <a href="https://www.apartments.com.au/news/vic/antipodean-plan-apartments-for-deepdenes-missing-middle-on-whitehorse-road">"missing middle" project</a> on Deepdene's Whitehorse Road.

Joel Robinson

First look: Antipodean Land Developments plans heritage-led apartment community in Surrey Hills

Developer <a href="https://www.apartments.com.au/developers/auyin-property-development">Auyin</a> is the latest to turn to the Victorian Government's Development Facilitation Program in an effort to secure approval for its long-planned, mixed-use project in Elsternwick.

In 2018, Auyin lodged plans with Glen Eira City Council for a 14-storey building, however Council approved a reduced eight-storey scheme. A subsequent VCAT appeal in 2019 upheld the eight-storey height limit.

The project was later amended to nine storeys, but Auyin is now seeking to revive something closer to its original vision. The developer argues that the planning context has evolved significantly over the past decade, particularly within the Elsternwick Activity Centre, where higher-density development has increasingly been encouraged along Glen Huntly Road.

The proposal would transform the 1,239 sqm site at <a href="https://www.apartments.com.au/new-apartments/7-12-horne-street-elsternwick-vic-3185">7-15 Horne Street</a>, opposite Elsternwick Railway Station, into a 13-storey residential and retail development designed by CBG Architects, with 40 apartments

The site currently comprises three commercial properties.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="5f465dd4-509b-4082-a669-0253b313914b" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20podium.png?VersionId=72frWi0SmQ5AVJ3ARRhX5ILUYObhTm7x" />

The proposed apartment mix comprises 25 two-bedroom and 15 three-bedroom residences above 200 sqm of retail space at ground level. Residents would have access to a 90 sqm wellness facility, a 351 sqm communal indoor and outdoor terrace on the third level, and extensive landscaped areas throughout the development. A publicly accessible 135 sqm plaza would be created on the north-east corner of the site, providing seating, landscaping, and a new gathering space adjoining Horne Street.

The design adopts a four-storey podium that references the finer-grain character of the surrounding streetscape, with the upper tower recessed behind generous setbacks on all boundaries.

<img alt="First look: 13-storey mixed-use tower planned for Elsternwick activity centre" data-entity-type="file" data-entity-uuid="e637e763-2abc-4c34-a0aa-5c7ad36fae18" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/elsternwick%20open.png?VersionId=J1AoOpZgTyaF.KeeFSX6lMjEScX8KKRi" />

A key element of the proposal is the reconfiguration and widening of the surrounding laneways. Vehicle access would be retained from Lois Lane, with upgraded pedestrian connections linking Ross Street and Horne Street. The development would provide 58 residential car spaces, two retail car spaces, and 52 bicycle spaces across two basement levels and ground-floor facilities.

Architecturally, the building draws inspiration from the established character of Elsternwick Village. The façade combines dark charcoal brickwork, textured concrete, bronze-toned metal detailing, and extensive planting integrated into podium and tower levels. The design also incorporates a chamfered corner treatment and publicly accessible plaza intended to strengthen pedestrian activity around the station precinct.

Elsternwick's last new development completion was&nbsp;EVA Elsternwick by Pitard late last year. <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> is working away on its nature-led neighbourhood, <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, on Gordon Street, with its first stage expected to complete next year.

First look: Auyin seeks mixed-use apartment project in growing Elsternwick Activity Centre

<a href="https://www.apartments.com.au/new-apartments/otium-parkdale-123-125-como-parade-east-parkdale-vic-3195">Otium Parkdale</a>, the 13-residence boutique development by&nbsp;<a href="https://www.apartments.com.au/developers/huxtable-property">Huxtable Property</a>, has entered its final stages of delivery, with completion expected within the coming month and more than half of the residences sold.

The Como Parade East project is nearing the finish line at a time when opportunities to purchase new apartments in <a href="https://www.apartments.com.au/developments/parkdale-vic-3195">Parkdale</a> remain exceptionally limited. Fewer than 10 per cent of dwellings in the bayside suburb are apartments, making developments like Otium a relatively rare addition to a market traditionally dominated by detached housing.

[smartcode_project:default project_id=134974 project_image_fid=5427]

The three-level development comprises 13 residences, including ten two-bedroom apartments and three larger three-bedroom homes, all positioned above a secure basement car park.

Designed by <a href="https://www.apartments.com.au/architects/almeida-architects">Almeida Architects</a> with a strong connection to its coastal surroundings, Otium combines red brick, exposed concrete and dark metal detailing with integrated landscaping and greenery. Expansive glazing, generous balconies and terraces have been incorporated throughout the design to maximise natural light and reinforce indoor-outdoor living.

Inside, the residences feature engineered European oak flooring, natural and reconstituted stone benchtops, Bosch kitchen appliances, ducted heating and cooling, lift access and secure entry systems. The larger three-bedroom residences on the upper level have been designed with house-like proportions, while the two-bedroom apartments prioritise functionality, flexibility and low-maintenance living.

[smartcode_project:default project_id=134974 project_image_fid=5421]

The project is now in its final stages, with <a href="https://www.apartments.com.au/builders/labco">Labco</a> completing the remaining landscaping and external finishing works following the completion of the residences' interiors.

Otium's location within the heart of Parkdale continues to underpin its appeal. Residents will be just steps from local cafés, restaurants, shops and the newly elevated Parkdale Station, while the beach is less than a kilometre away.

With the project tracking ahead of schedule, buyers can currently secure a residence with a five per cent deposit and benefit from settlement terms of up to eight months. The advanced stage of construction also provides buyers with the opportunity to walk through the near-complete residences and experience the quality and finishes firsthand ahead of completion.

[smartcode_project_cta:default project_id=134974]

Otium Parkdale enters final month before completion as rare apartment opportunity nears sellout

A new boutique apartment development is entering the market in <a href="https://www.apartments.com.au/developments/chermside-qld-4032">Chermside</a>, with Brisbane-based developer <a href="https://www.apartments.com.au/developers/ausdev">Ausdev</a> bringing 33 residences to a well-connected pocket of Brisbane's north.

<a href="https://www.apartments.com.au/new-apartments/parkdrive-apartments-chermside-25-sammells-drive-chermside-qld-4032">Parkdrive Apartments</a>, at 25 Sammells Drive, will comprise a mix of one- and two-bedroom residences positioned within walking distance of Westfield Chermside, The Prince Charles Hospital, and Bradbury Park.

Established in 1989, Ausdev has a long-standing presence across both development and construction, with Parkdrive Apartments representing its latest residential project in Brisbane's northern suburbs.

[smartcode_project:default project_id=152125 project_image_fid=363778]

The development has been designed around open-plan living and natural light, with residences featuring stone benchtops, timber cabinetry, BOSCH appliances, and private balconies that extend the living areas outdoors.

Kitchens are positioned as the centrepiece of the homes, incorporating natural material palettes and integrated appliances, while bathrooms have been designed with a focus on functionality and understated finishes.

Residents will have access to a communal barbecue and entertaining area on Level 3, providing shared outdoor space within the development. Secure parking and lift access are also incorporated into the building.

The project will deliver a limited collection of 33 apartments, with one-bedroom residences priced from $749,000.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Beyond the building itself, the location places residents within easy reach of several of Chermside's key amenities. Bradbury Park is around 350 metres away, while Westfield Chermside is approximately 1.3 kilometres from the site. The Prince Charles Hospital is located within 750 metres, and the Chermside Bus Interchange is around 1.5 kilometres away, providing connections across Brisbane.

Parkdrive Apartments adds to the growing residential pipeline in Chermside, a suburb that continues to evolve as a major retail, healthcare, and transport hub for Brisbane's north.

[smartcode_project_cta:default project_id=152125]

Ausdev introduces boutique Parkdrive Apartments to Chermside's growing centre

<a href="https://www.apartments.com.au/developers/skymark-group">Skymark</a>'s boutique Cronulla development Solis has secured a 10-year Latent Defects Insurance policy through Resilience Insurance, providing buyers of the 16-residence building on Ewos Parade with structural and waterproofing protection that extends a decade beyond the building's completion.

Currently under construction and due for completion in late 2027, <a href="https://www.apartments.com.au/new-apartments/solis-cronulla-8-ewos-parade-cronulla-nsw-2230">Solis</a> is one of a small number of new developments in the Sutherland Shire to carry Resilience LDI coverage, a distinction that carries increasing weight as buyer confidence in the off-the-plan sector continues to be shaped by how developers stand behind their product.

Latent Defects Insurance, which entered the Australian market in 2022 when Resilience Insurance was approved to offer the cover, protects buyers against major structural or waterproofing defects for ten years post-completion. Unlike traditional statutory warranties, it operates as a first-resort policy, if a covered defect arises, the insurer responds directly, without the buyer needing to pursue the builder or developer through a lengthy claims process.

Resilience Insurance CEO Corey Nugent has noted that the product addresses something fundamental to the new apartment market.

"The overarching feedback from prospective buyers in the new development space is that they want more confidence and assurances around the quality of the build," Nugent says.

"Resilience Insurance Latent Defects Insurance not only gives them complete peace of mind for 10 years, but it shows the developer they are buying from is standing by their product."

[smartcode_project:default project_id=150499 project_image_fid=370898]

For Solis, the Resilience LDI policy adds a meaningful layer of accountability to an already considered project. The development comprises nine two-bedroom and seven three-bedroom residences, including one dual-level three-bedroom apartment, across a five-storey building on Ewos Parade, positioned between Shelly Beach and South Cronulla.

Garden apartments connect directly to private landscaped courtyards, while upper-level homes capture beach views to the east from level four and above.&nbsp;

All 16 residences include at least one balcony or courtyard, and select apartments on the upper floors feature bar areas and secondary flexible living spaces.

Hiba Sander, Managing Director of Skymark, says Solis offers a rare balance, nestled between the quiet beauty of secluded beaches and the lively charm of South Cronulla's esplanade.

"It's a place to choose your pace and live gracefully, seaside'," Sander says.

[smartcode_project:default project_id=150499 project_image_fid=370900]

The architecture, designed by <a href="https://www.apartments.com.au/architects/ida-design-group">IDA Design Group</a>'s Michael Trinh, draws from the natural erosion patterns of <a href="https://www.apartments.com.au/developments/cronulla-nsw-2230">Cronulla</a>'s sandstone headlands, translating the organic forms of the coastline into soft curves, pavilion-style massing, and a material palette chosen for longevity in a salt-tinged environment.&nbsp;

Textured natural stone, soft renders, and timber-look battens reference the tones of the surrounding cliffs, while the building has been oriented to maximise natural light and passive ventilation, with primary living spaces facing north and east to capture morning sun and sea breezes.

"At Solis, our aim was to create architecture that feels quietly confident, grounded in natural materials like stone and timber, and elevated by light and landscape," Trinh says.&nbsp;

"The buildings are designed to sit gently within their coastal surrounds, with expansive glazing and abundant greenery creating a seamless dialogue between inside and out."

[smartcode_project:default project_id=150499 project_image_fid=370897]

Interiors by <a href="https://www.apartments.com.au/architects/hot-black">Hot Black</a> carry the same material language through to every room. Kitchens feature integrated Gaggenau appliances, sculpted stone benchtops, and Lo &amp; Co joinery, while bathrooms feature natural stone, timber, and brushed metal finishes.&nbsp;

Hot Black Founder and Design Director Sophie Safrin describes the intent as one of considered restraint: "At Solis, every detail has been thoughtfully considered to create a timeless coastal retreat, calm, refined, and effortlessly liveable. From natural finishes to seamless indoor-outdoor flow, Solis offers a quiet elegance that's deeply connected to its surroundings.

The landscape, designed by Julian Brady of <a href="https://www.apartments.com.au/landscape-architect/sitedesignstudios">Site Design Studios</a>, treats green space as an integral part of the resident experience rather than an afterthought.&nbsp;

"Gentle curves and layered native plantings mirror the ebb and flow of the ocean," Julian Brady says, "creating a serene connection between architecture and place."&nbsp;

Coco Republic has provided bespoke furniture packages tailored to the project's coastal palette.

[smartcode_project:default project_id=150499 project_image_fid=370899]

Skymark has an established track record in the Sutherland Shire, with a portfolio spanning Cronulla, Woolooware and Burraneer that includes Isla, Sylva, Bask, Shells, Sula and Mist. Securing LDI on Solis reflects a broader shift in how the developer is positioning its buildings to buyers, at a time when Resilience Insurance expects the policy to become mandatory in New South Wales by 2028.

Sales at Solis are launching soon through Ray White Projects, with an official event scheduled for 11 June. Enquire for more information.

[smartcode_project_cta:default project_id=150499]

Skymark takes out 10-year Resilience Insurance LDI at Solis Cronulla

Price Decline

<html><body>
Australian dwelling values slipped 0.1% lower in May, taking the annual change (-0.4%) into negative territory for the first time since October 2012, according to CoreLogic.
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
In a sign the housing market downturn is becoming more entrenched, May marked the eighth consecutive month-on-month fall since the national market peaked in September last year, taking the cumulative fall in dwelling values to 1.1% through to the end of May 2018. 
Similar to the current softening in housing market conditions, the previous downturn, which ran briefly from late 2015 to early 2016, was also driven by tighter credit conditions. 
It lasted for only five months nationally, with national dwelling values falling by 97 basis points before surging higher again on the back of two 25 basis point cuts to the cash rate which led to a rebound in housing credit growth.
Click here <a href="https://www.propertyobserver.com.au/images/2018/6/1/index.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/1/index.jpg" alt="">
 
CoreLogic head of research Tim Lawless said Sydney and Melbourne performance has a big effect on the nation's figures.
“The negative headline growth rate is a symptom of weakening housing conditions across the capital cities, led by Melbourne and Sydney where previously, capital gains were nation-leading," Lawless said.
"Sydney and Melbourne comprise approximately 60% of Australia’s housing market by value, and 40% by number, so the performance of these two cities has a larger effect on the headline market performance.”
Click here <a href="https://www.propertyobserver.com.au/images/2018/6/1/annual.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/1/annual.jpg" alt="">
Melbourne has taken over from Sydney as the weakest performing housing market over the past three months Drilling down across the individual capitals shows Melbourne has taken over from Sydney as the weakest housing market, recording a 0.5% fall in values over the month to be 1.2% lower over the three months ending May. 
This is the largest decline in Melbourne dwelling values over a three month period since February 2012. Melbourne’s housing market was previously looking more resilient to value falls relative to Sydney. Recently however, auction clearance rates have been deteriorating, inventory levels are rising and transaction activity is tracking 12.9% lower than one year ago. 
Dwelling values slipped lower over the month across five of Australia’s eight capital cities. Apart from Melbourne, dwelling values recorded a month-on-month fall in Sydney (- 0.2%), Perth (-0.1%), Darwin (-0.2%) and Canberra (-0.1%), however, Sydney was the only capital city other than Melbourne to record a decline in dwelling values over the past three months, with a 0.9% fall. 
Hobart’s impressive run of capital gains continued and is showing little signs of slowing down with dwelling values jumping 0.8% over the month to be 3.7% higher over the rolling quarter and 12.7% higher year-on-year.
<div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column">
Perth and Darwin showing signs of levelling. In Perth and Darwin where dwelling values have been trending lower since 2014, both cities recorded a subtle fall in values over the month, however, in a further sign that conditions are levelling out, dwelling values were up over the past three months across both cities. The annual rate of decline across Perth, at -1.2%, was the smallest annual fall in two years. 
The more expensive end of the housing market was the primary driver for weaker conditions. Nationally, the only value-based segment of the housing market to record an annual decline has been the most expensive quarter of the market where values were down 1.3% over the past twelve months. Simultaneously, the most affordable quarter of the market saw values rise by 1.0% and the broad middle of the market recorded a 2.3% rise in dwelling values over the year. 
At a national level, the weakness across the most expensive properties is heavily influenced by the Sydney and Melbourne markets where dwelling values are higher than other cities. 
In Sydney, the most expensive quarter of the market has seen dwelling values fall by 7.1% since peaking compared with a 1.4% fall across the least expensive quarter of the market and a 3.3% decline across the broad ‘middle’ of the market. Similarly, in Melbourne, the most expensive quarter of the market is down 3.3% since peaking, while the broader middle market saw dwelling values fall by 0.8%. The most affordable quarter of properties did not decline at all, remaining at record high values. The resilience across the most affordable quarter of the market in Sydney and Melbourne is likely attributable to the higher proportion of first home buyers, which, since the middle of 2017, appear to be propping up demand across the lower price points.
<div class="page" title="Page 2">
<div class="section">
<div class="layoutArea">
<div class="column">
 
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

jonathanchancellor-7SQnKwU6yx

Sydney property prices down 4.2 percent in first annual national decline since 2012: CoreLogic

<html><body>
SQM are reviewing their annual Housing Boom and Bust Report outlook, which they published in October 2017, due to recent developments to the housing market.
The annual outlook - which offered three scenario's - did forecast moderated dwelling price rises in 2018, at a slower rate than the price gains in 2017, led by a slowdown in Sydney.
The SQM housing expert Louis Christopher confirmed the new review in his latest update. 
"Any revisions will be released next Tuesday, 8 May," he said.
It was only four weeks ago that Christopher told the firm's annual conference he was sticking to his forecast of a 4 percent to 8 per cent rise for Sydney and 7 percent to 12 per cent growth for Melbourne.
<div>
"APRA will loosen the market again because they are under instruction not to crash the market," Christopher said, according to The Australian Financial Review.
</div>
<div>"We think APRA will lift the credit growth limit limit, if that does occur, we think it will stimulate the investor market."</div>
<div>
<div id="article-inline-ad"> </div>
</div>
<div>"What the banks are doing is they have been lowering interest rates for property investment...the gap between owner-occupier and investor loans has now narrowed."</div>
<div> </div>
<div>SQM suggest in a worse case scenario - should investors not return - Sydney's house prices would fall only by about 1 per cent, buoyed by steady population growth.</div>
<div>
"I think the reality would be that the first quarter will be line-balled whether prices in Sydney and Melbourne have fallen or not.
"If they fall, it won't be more than 1 per cent," Mr Christopher said.
</div>
<div>"It's very hard to be bearish when you see strong population growth and low unemployment, unless we see a major credit default occur," he said in March adding Melbourne had a greater chance of a more severe downturn than Sydney, if a large correction happens.</div>
<div>
"In absolute dollars, Melbourne is cheaper than Sydney, but compared to incomes Melbourne is more expensive and more susceptible to a downturn," Mr Christopher said.
</div>
SQM Research’s base case forecast last year for 2018 was for capital city dwelling prices to rise between 4% to 8% in 2018, which would represent a fall from a growth rate of approximately 8.5% over the past 12 months to 30 September 2017. 
The rate of property price increases will be slower in 2018, predominantly due to a slowdown in the Sydney housing market, which should continue into the first half of the year. Melbourne’s property market will also lose some momentum, however, this will only be a relatively modest slowdown, according to predictions in Christopher’s Housing Boom and Bust Report. 
“Offsetting a slowdown in Melbourne and Sydney will be first-year property market recoveries for Perth and Darwin and an ongoing real estate boom in Hobart’s property market, which is set to record the highest level of accelerated price growth of any capital city next year at between 8% to 13%,” Christopher said.
Click here <a href="https://www.propertyobserver.com.au/images/2017/10/18/Crash1.jpg" target="_blank">to enlarge</a>.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/10/18/Crash1.jpg" alt="">
The report forecast Brisbane’s property market will experience slightly stronger gains than those posted in 2017, with property prices forecast to rise between 3% to 7%. However, the persistent overhang of surplus property listings will hold back property in that city from a faster rate of inflation. 
The base case for all capital cities forecasts assumes no changes in interest rates next year, a stable exchange rate and the existing restrictions by APRA on investment lending to remain in place. 
“Through the actions of APRA earlier this year, a possible deeper housing correction in Sydney and Melbourne has been averted, for now. Accelerated population growth rates in Melbourne and Sydney have enabled the cities to avoid severe property downturns. On the flipside, housing affordability will likely continue to deteriorate in 2018 with growth in property prices still outpacing wages growth,” said Christopher. 
“The authorities were right to take action earlier this year to restrict investing lending by banks. Failure to have taken action would have resulted in out-of-control Sydney and Melbourne housing markets, where additional aggressive monetary policy may well have triggered a large fall in dwelling prices in 2018,” said Christopher.
“APRA’s action, which came earlier than I had expected, has meant that the Sydney housing market is cooling sooner than expected. That has meant our Sydney forecast for this year of price growth of 11% to 16% will not be reached and a more moderate 6% to 8% increase in prices can be anticipated for 2017.
“Our Sydney forecast for 2018 is for a 4% to 8% increase in prices whereby Sydney will record a soft market in the first half of the year, but property prices will start to recover in the second half as the banks will likely increase investment lending once again. There have been reports of banks investment lending ratios being under the maximum thresholds allowed, so we can expect a rise next year as banks increase investment lending up to this limit.” 
“Hobart’s property market is expected to remain the fastest growing city in 2018, with the combination of a fast economy and housing supply shortages likely to ensure the second year running of double digit price rises for that city,” Christopher said. 
</body></html>

j.ballantyne1990-6AQqhLzZaK

SQM's Louis Christopher says he's reviewing the annual Housing Boom and Bust Report

<html><body>
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
National dwelling values dropped 0.1% in April, the seventh consecutive month-on-month fall since values started falling in October last year, according to the CoreLogic April home value index results.
</div>
</div>
<div class="layoutArea">
<div class="column">
CoreLogic head of research Tim Lawless found that the declines were concentrated within the largest capitals, while regional dwelling values edged 0.4% higher. 
Capital city dwelling values were 0.3% lower over the month, driven by larger falls of -0.4% in Sydney and Melbourne and a smaller decline in Brisbane values (-0.1%). 
The falls were offset by flat conditions in Perth and subtle rises in Adelaide (+0.1%), Darwin and Canberra (both +0.6%). Hobart was the only city where dwelling values rose by more than 1% in April.
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/1/index_corelogic.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/1/index_corelogic.jpg" alt="">
On an annual basis, the combined capitals recorded the first decline in dwelling values since late 2012, with values slipping 0.3% lower.
They were driven by falls in Sydney (-3.4%), Perth (-2.3%) and Darwin (-7.7%).
Hobart dwelling prices were the only to soar in double digit growth, while most pockets of Melbourne secured strong price growth.
Unsurprisingly, dwelling values across a number of sub regions in Sydney saw values, some areas up to nearly seven percent.
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/1/capitals.jpg" target="_blank">to enlarge.</a>
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/1/capitals.jpg" alt="">
Regional areas are outperforming capitals, after a five year period where capitals have been the dominant areas.
“At a macro level, the latest trends are virtually the opposite of what we have become used to over the past five or so years," Tim Lawless said.
"Regional areas are now outperforming the capitals and units are outperforming houses. Also the most expensive properties are now showing weaker conditions than the more affordable ones.” 
</div>
</div>
</div>
</div>
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
The past five years has seen combined capital city dwelling values appreciate at the annual rate of 6.8% which is almost double the annual rate across the combined regional markets at 3.5%. The past twelve months has seen capital city dwelling values fall by 0.3% while regional values are 2.4% higher. 
Click here <a href="https://www.propertyobserver.com.au/images/2018/5/1/REGIONAL.jpg" target="_blank">to enlarge.</a>
</div>
</div>
</div>
</div>
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/5/1/REGIONAL.jpg" alt="">
</body></html>

jrobinson-rf4aSBido9

Capital city dwelling values record their first annual decline since 2012

<html><body>
National dwelling values were unchanged in March, with the steady month on month reading seeing a fall of 0.2 percent in capital city dwelling values, according to the CoreLogic hedonic home value index.
The combined regional markets saw values rise by 0.4%.
<div class="page" title="Page 1">
<div class="section">
<div class="layoutArea">
<div class="column">
Trends across the March quarter showed that capital city home values were 0.9% lower over the March quarter, while values across the regional markets have tracked 1.1% higher.
Six of the eight capital cities have recorded a fall in values over the first quarter of 2018, ranging from a 1.8% drop in Sydney values to a 0.1% fall in Darwin.
Hobart recorded 13 percent price growth, the strongest of any capital.
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/3/INDEX1.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/3/INDEX1.jpg" alt="">
Regional markets are now consistently outperforming the combined capitals.
CoreLogic head of research Tim Lawless said the trend began in October.
“The stronger combined regional markets performance continues a trend that began to emerge in October last year where regional housing markets showed an overall improvement in the pace of capital gains while the combined capitals trend softened.” 
“The broad-based falls highlight that the softening trend in the Australian housing market is largely due to weaker conditions in Sydney, however, most other capitals are also recording subtle falls.
"Dwelling values were steady over the quarter in Brisbane and have continued their strong run of growth across Hobart, up +3.4%.”
Click here<a href="https://www.propertyobserver.com.au/images/2018/4/3/index2.jpg" target="_blank"> to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/3/index2.jpg" alt="">
The unit sector across Sydney and Melbourne has shown stronger conditions relative to detached housing.
“The March home value indices results also confirm that the unit sector is now consistently outperforming the detached housing market - a trend which has been evident since mid-2017," Lawless said.
"The stronger performance is subtle at the combined capitals level: capital city house values were down 1% over the March quarter while unit values were down a more moderate 0.7%.” 
More significant differences between houses and units can be seen in Sydney and Melbourne where housing affordability pressures are more evident relative to other cities. 
Sydney unit values are up 1.9% over the past twelve months, while house values are down 3.8%. 
Similarly in Melbourne, unit values are 6.6% higher over the past twelve months while house values are up just 4.9%. 
“The stronger performance from the unit sector may suggest that buyer demand is becoming more concentrated in the medium to high density sector where entry prices are lower and commuting times are often more convenient when compared with the detached housing markets around the outer fringes of the city," Lawless suggested.
</div>
<div class="column">
 
</div>
</div>
</div>
</div>
</body></html>

Six of eight capital cities record falling values in first quarter: CoreLogic

<html><body>
Sydney is now the only capital city which is seeing its housing market start to decline, according to valuation firm Herron Todd White.
Last month Herron Todd White had Canberra in the same category, however that has now moved to a rising market for its houses.
Click here <a href="https://www.propertyobserver.com.au/images/2018/3/19/HTW.jpg" target="_blank">to enlarge.</a>
<a href="https://www.propertyobserver.com.au/images/2018/3/19/HTW.jpg" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/19/HTW.jpg" alt=""></a>
 
Since last month Toowoomba has hit the bottom of the market, while Melbourne is still approaching the peak of the market.
South East New South Wales has gone from being at the peak of the market to the starting to decline phase.
</body></html>

Sydney the only capital housing market starting to decline: HTW property clock

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Having soared since the start of 2013, Sydney housing market values are dropping at an alarming rate.
In January dwelling values across Sydney fell 0.9 percent, the fifth consecutive monthly decline.
CoreLogic-Moody's Analytics forecasts house prices in Sydney's inner circle could see double digit price declines, with further declines in some areas rolling in to 2019.
Nearly every Greater Sydney region saw double digit growth last year, but now on average are expected to see around four percent losses.
Apartments are also expected to slow, but not as sharply, with a 0.3 percent expansion expected in 2018, from the 9.8 percent growth in 2017.
Click here <a href="https://www.propertyobserver.com.au/images/2018/3/20/NSW%20forecasts.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/20/NSW%20forecasts.jpg" alt="">
The regions further outside of Sydney city are predicted to only see small drops, while the likes of Sydney's inner areas are touching the 10 percent decline mark.
The rest of New South Wales, such as Coffs Harbour and Newcastle are expected to continue to see strong price growth.
Elsewhere in the country CoreLogic-Moody's found softness in Melbourne and Brisbane, with declines in Perth, Canberra and Darwin.
Home values in Hobart and Adelaide are defying the trend and continue rising.
House values in Melbourne are forecast to increase three percent in 2018, although declines are forecast for Inner Melbourne. Melbourne’s apartment market is expected to hold up and gain 5.2% in 2018.
House values across Brisbane are forecast to gain a mild 1.8% in 2018, with strength in West Brisbane and Inner Brisbane offsetting declines in South Brisbane and Logan-Beaudesert areas. 
Brisbane’s apartment values are tipped to rise this year, driven by recovery in North Brisbane apartment values. Apartments in East Brisbane and West Brisbane are still expected to post mild declines. 
House values in Perth will have another year of decline, with a 1.9% decline forecast for this year before a 1.2% recovery in 2019, driven by the steadily recovering local economy. 
Meanwhile Adelaide’s housing market will extend its remarkable run, albeit at a moderating pace. 
House values in Adelaide are forecast to rise 2.6% in 2018, following a 4.9% gain in 2017. 
Canberra’s housing market will similarly slow down, with values forecast to rise 4.8% in 2018 after an 8.7% gain in 2017.
  
<div class="page" title="Page 5"> </div>
</div>
</div>
</div></body></html>

Near double-digit downturn predicted in pockets of Sydney: CoreLogic-Moody's Analytics

<html><body>
The Sydney unit market continues to be in decline, according to the valuation firm Herron Todd White.
Their starting to decline category sees Canberra, South East NSW and Bendigo join the major capital.
Brisbane and Perth remain in the declining market where they were in February's apartment clock.
South East New South Wales were at the peak of the market last month, but are now seeing declines.
Click here <a href="https://www.propertyobserver.com.au/images/2018/3/13/clockMarch.jpg" target="_blank">to enlarge.</a>
 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/3/13/clockMarch.jpg" alt="">
The dominant regions at the peak of the market again are north of Sydney, the likes of Newcastle and the Central Coast performing strongly.
Herron Todd White suggest Melbourne and Gold Coast units are still at the peak of the market, while rural areas in Queensland dominate the bottom of the market.
There are some areas on the Queensland coast that are still in the market recovery, such as Townsville and Hervey Bay.
Tasmanian suburbs are apparent in the still rising market.
 
</body></html>

Canberra joins Sydney unit market in starting to decline phase: HTW property clock 

<html><body>
Four capital city unit markets kick off 2018 in decline, according to the latest HTW property clock.
Sydney is in decline. Brisbane, Canberra and Perth are described as declining markets. 
The latest property clock is not too different than September when the Melbourne apartment market was still at its peak, according to Herron Todd White’s latest report.
Melbourne is the only major capital city at its peak, which has got busier.
The peak last September consisted of the NSW Central Coast, Coffs Harbour, Gold Coast and Newcastle. The February clock adds the Gold Coast, the NSW mid North Coast and the south east NSW as also at the peak in the market.
September Property Clock (below) 
<a href="https://www.propertyobserver.com.au/images/2017/09/07/Screen%20Shot%202017-09-07%20at%202.15.09%20pm.jpg" target="_blank">Click to enlarge</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/09/07/Screen%20Shot%202017-09-07%20at%202.15.09%20pm.jpg" alt="">
 
</body></html>

Four capital city unit markets kick off 2018 in decline: HTW property clock

<html><body>
Darwin was the weakest capital city for prices in 2017, according to CoreLogic.
CoreLogic's Tim Lawless believes Darwin's housing downturn is "entrenched" given prices have fallen by 21.5 per cent since May 2014.
But there is a silver lining for the Northern Territory capital as the substantial fall in values has pushed Darwin City rental yields higher.
Darwin's rental yields are 5.9 per cent, the highest out of all capital cities.
For Darwin, Lawless noted Darwin values down 6.5 percent during 2017.
Its rental prices were down too - by 1.5% over the year. 
Sales last year where vendors look a loss included a three bedroom, two bathroom 2003 apartment at $375,000. <a href="https://www.realestate.com.au/sold/property-apartment-nt-darwin+city-125224626" target="_blank">The Carey Street apartment </a>had sold in 2005 at $399,000.
The rental estimate was given as $550 to $600 per week for the recently repainted apartment with leafy aspects from all bedrooms and water views from the balcony. It sold through Rhiannon Oakhill and Karl Secondis at One Real Estate after 100 days on the market.
It has council rates of $1,395 per annum and body corporate fees of $2,560 per quarter.
A three bedroom, two bathroom apartment sold at around the same time for $400,000 was quickly snapped up after becoming available at $550 a week rental.
Situated in Vantage Point, with sweeping views across Frances Bay towards Bayview, a seventh floor apartment in White Tower, sold at $395,000, after three years on the market.
 The rent was $650 per week with a DHA lease due to run until June 2017.
It was available for rent in July at $545 a week.
It had sold at $450,000 in 2005, so fell $55,000 in price.
There was a big price drop at <a href="https://www.realestate.com.au/sold/property-apartment-nt-darwin+city-124708002" target="_blank">19/96 Woods Street</a>, when a $450,000 sale was achieved for a 2009-built three bedroom apartment (below).
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/1/8/darw.jpg" alt="">
It sold off the plan at $466,000 then onsold at $560,000.
The rental asking price was $750 in 2013, then $650 in 2015, and then a $610 asking price in 2016. The selling agent, Stuart Rodda at Territory Real Estate advised the current tenant was paying $560 per week. 
At the prestige end of the market, a 320 sqm penthouse in the Arkaba complex sold for $1.25 million.
<a href="https://www.realestate.com.au/sold/property-apartment-nt-darwin+city-117516567" target="_blank">The 25/13 Esplanade offering</a> had previously sold at $1.7 million in 2009. It had been on and off the market since 2014, at one stage rented out at $1400 a week.
The four bedroom penthouse had body corporate levies of $4,826.25 per quarter. The rates were $2,200pa.
There are currently around 185 units for sale in the 0800 Darwin postcode.
Offers over $700,000 are being sought for <a href="https://www.realestate.com.au/property-apartment-nt-darwin+city-125395458" target="_blank">a two level 26th floor penthouse</a> that sold at $785,000 in 2015.
With the growing demand for executive style living in a central location, the spectacular apartment was a hot pick for anyone working in the CBD, the FIFO worker or Defence personnel tenant, the Raine &amp; Horne listing agent suggests.
A two bedroom 1980s unit last sold at $365,000 in 2014 that was seeking offers over $299,000 has been pulled from sale.
It was then available for rent at $280 a week, having been previously listed at $330 a week asking rent in 2016.
First National agent Michael Keith is offering what he has marketed as a long-term 5% net yielding property, "providing a genuine set and forget investment."
It is in the tightly held City Garden Apartments in the Darwin CBD which consists of 16 two bedroom self-contained serviced apartments.
The apartment is 70sqm in size on the 1st floor overlooking a resort style pool. The income was listed as $1,735 per month fixed for two years with 3% increase annually thereafter. There is a rent review every five years adjusted at 5% on valuation. There is an option for three additional five year rental periods. The council rates are $1,400 per annum and the body corporate fees are $500 per quarter.
</body></html>

Price Decline

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Price Decline

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News