Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Price Growth

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The latest CoreLogic figures are likely to show price growth flat-lined in April with Sydney having its first monthly decline since December 2015.
Full-month figures due to be released on Monday will show the country's peak growth phase has possibly paused or passed.
CoreLogic head of research Asia Pacific Tim Lawless noted the CoreLogic hedonic home value index has virtually held steady over the first twenty-seven days of the month for the five city aggregate index, "with a subtle fall in Sydney values over the month to date." 
"Recent regulatory changes aimed at slowing the pace of investment and interest-only lending have pushed mortgage rates slightly higher and slowed the pace of investment demand. These changes appear to be having a dampening effect on housing market conditions."
" The softer results come after a strong re-acceleration in home values that has been evident through the second half of 2016 and the first quarter of 2017. 
"Recent regulatory changes aimed at slowing the pace of investment and interest-only lending have pushed mortgage rates slightly higher and slowed the pace of investment demand. 
"These changes appear to be having a dampening effect on housing market conditions." 
The figures had Sydney up 1.4 percent in March - up 18.9 percent over the 12-month period.
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The last decline in Sydney values came in the December quarter of 2015, with a 1.4 percent decline in November and a 1.2 percent fall in December, coinciding the first round of credit curbs.
Monday's report will include figures for the five mainland capitals. 
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j.ballantyne1990-6AQqhLzZaK

Subtle fall in Sydney values in April: CoreLogic

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The Murrumbidgee council area is the top-performing market in the country, according to CoreLogic.
CoreLogic said when it comes to market growth the Riverina town is number one.
The area’s median house prices have ballooned in the past 20 years, recording a growth of 13 percent per annum.
Tim Lawless, CoreLogic’s director of research, attributed the growth to an influx of new housing and strong local economic conditions.
“Prices have moved from an extremely low base which can magnify the percentage change," he said.
<a href="https://www.propertyobserver.com.au/images/2017/03/29/Chart-1.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/2017/03/29/Chart-1.jpg" alt="">
"Despite such a high growth rate over 20 years, the median prices is still less than $170,000.
“The vast majority of this growth occurred between 1998 and 2003 when the median price moved from slightly under $12,000 to $123,000 over this five year period.”
The most active suburb Coleambally recorded 18 sales in the past 12 months while 14 properties in Darlington Point changed hands in that period, CoreLogic RP Data showed.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-darlington+point-122624202" target="_blank">7 Demamiel Street</a>, Darlington Point (above) has been listed for $209,000.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-coleambally-122568658" target="_blank">39 Sandpiper Street</a>, Coleambally (below) had its price reduced to $215,000.
<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/2017/03/29/39%20Sandpiper%20Street.jpg" alt="">
Similarly a five bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-darlington+point-120988250" target="_blank">38 Kook Street</a>, Darlington Point (below) has been listed for $199,000.
<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/2017/03/29/38%20Kook%20Street.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-darlington+point-124395470" target="_blank">13 Carrington Street</a>, Darlington Point (below) was recently sold for $164,000.
<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/2017/03/29/13%20Carrington%20Street.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-darlington+point-124031414" target="_blank">17 Hay Street</a>, Darlington Point (below) was sold for $164,000.
<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/2017/03/29/17%20Hay%20Street.jpg" alt="">
Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-coleambally-123401794" target="_blank">37 Sandpiper Street</a>, Coleambally (below) was sold for $115,000.
<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/2017/03/29/37%20Sandpiper%20Street.jpg" alt="">
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Murrumbidgee LGA has highest growth market in the past 20 years

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The Westpac Melbourne Institute Consumer House Price Expectations Index has continued to firm, rising a further 7.5 percent since October, according to the Red Book January 2017 report.
At 149.6 the index is back near the highs of early 2015.
A strong majority of consumers nationally expect prices to rise over the next 12 months with 13.2 percent predicting double digit growth and 49.7 percent expecting single digit increases. Just 26.2 percent expect prices to hold with 10.9 percent predicting price declines.
<a href="https://www.propertyobserver.com.au/images/2017/02/03/wes-3.jpg" target="_blank">Click to enlarge</a>
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Price measures are now giving a more consistent messages on actual price growth with all showing a lift and two of the four major measures suggesting gains tracking at a 10 percent annual pace over the second half 2016.
Consumers in NSW and Victoria remain considerably more bullish on price growth. The biggest lift in expectations over the last three months has been in WA (+18.7 percent) followed by NSW (+7.2 percent).
While the latter looks to be responding to a renewed quickening in price growth, the shift in expectations in WA looks more tentative.
<a href="https://www.propertyobserver.com.au/images/2017/02/03/wes-4.jpg" target="_blank">Click to enlarge</a>
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Price expectations have been much weaker in WA as actual prices out west have recorded persistent declines.
Although WA consumers now look to be anticipating a stabilisation, similar expectations in mid 2016 proved premature and the latest firming has yet to be reflected in any moderation in actual price declines.
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jonathanchancellor-7SQnKwU6yx

Buyers expect property prices to keep rising in 2017: Westpac

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Combined capital city dwelling values rose 0.7 percent for January with Sydney recording the highest annual capital gains with dwelling values up 16 percent over 12 months according to CoreLogic.
CoreLogic's Hedonic Home Value Index for January 2017 found since the growth cycle commenced in June 2012, Sydney dwelling values have increased by a cumulative 70.5 percent.
Tim Lawless, CoreLogic head of research said the largest month-on-month gains were recorded in Hobart (+1.4 percent), Sydney (+1.0 percent) and Melbourne (+0.8 percent).
"On a quarterly basis, the CoreLogic January index results confirmed that all capital cities recorded a rise in dwelling values, with Hobart in the lead, recording a 5.8 percent rise in dwelling values over the three months to the end of January. Sydney (+2.7 percent) and Melbourne (+2.4 percent) also posted strong increases over the rolling quarter," he said.
"The annual trend in dwelling value appreciation remained steady when compared with last month.
"The annual growth rate across the combined capital cities was 10.7 percent over the twelve months ending January 2017, compared with 10.8 percent over the previous rolling twelve month period.
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“While the growth trend in smaller cities such as Hobart can show higher levels of volatility, clearly the Hobart housing market is now well into its growth cycle. Strong housing market conditions are being driven by positive affordability of housing, as well as improving economic conditions and stronger migration trends.” 
"For Perth and Darwin, the rise in dwelling values over the rolling quarter may hint at a bottoming of the downturn, evident since 2014.
"Since dwelling values peaked in these markets they have reduced by a cumulative 7.7 percent in Perth and 7.5 percent in Darwin through to January 2017. Perth dwelling values were 2.1 percent higher over the past three months and Darwin values were up 1.8 percent.
“Buyers still have a great deal of leverage in these markets, with listing numbers remaining high, long selling times and high rates of discounting. However, in another indication that conditions may be moving through the bottom of the cycle, transaction volumes moved higher across both markets prior to the seasonal downturn in December and January, whilst the average selling time reduced from previously higher levels. With economic and demographic conditions remaining weak in these markets, a recovery in dwelling values is likely to be a slow process.” 
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 "Gross rental yields slipped to a new record low across the combined capitals index in January, with the gross yield on a house now recorded at 3.20 percent, falling from 3.50 percent a year ago and 4.12 percent five years ago.
"The gross yield on a unit also reached a new record low in January, recorded at 4.01 percent across the combined capitals; down from 4.25 percent a year ago and 4.86 percent five years ago.
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“While rental yields plumb new lows, investment in the housing market has been consistently ratcheting higher which implies that investors are speculating on further capital gains in the housing market."
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Sydney's price growth gets even stronger in 2017 with opening 16 percent annual gain

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Gordon, the ACT suburb, has been pinpointed in the latest Residex Predictions Report as the nation's top growth prospect.
The list identifies 109 suburbs and towns nationally that are most likely to deliver better than average growth over the next five and eight years.
The report ranks the top 109 suburbs where predicted capital growth is forecast to be between an average of 4.0 percent and 11.1 percent per annum over the next five years, and between an average of 5.1 percent and 8.4 percent per annum over the next eight years.
Based on Residex’s predictive model, the best performing suburb has been identified as Gordon in the ACT, 28 kilometres south of Canberra, where house values are predicted to grow by an average of 8.4 percent per year for the next eight years.
The median house value in Gordon is currently $576,662 and the median value growth was a strong 5.6 percent in the year to October 2016.
For that median price a four bedroom home, such as the one at <a href="https://www.realestate.com.au/property-house-act-gordon-124363650" target="_blank">53 Wootton Crescent</a> (above), is available for $575,000.
Similarly a three bedroom home at <a href="https://www.realestate.com.au/property-house-act-gordon-123890790" target="_blank">6 Price Place</a> (below) has been listed for sale for $589,000.
<img src="https://www.urban.com.au/images/2017/01/17/Screen%20Shot%202017-01-17%20at%2011.41.06%20AM.png" alt="">
Examples of houses that have been sold at Gordon includes a three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-act-gordon-124211006" target="_blank">11 Flegg Crescent</a> (below) that was sold for $565,000.
<img src="https://www.urban.com.au/images/2017/01/17/Screen%20Shot%202017-01-17%20at%2011.42.33%20AM.png" alt="">
Similarly a three bedroom home at <a href="https://www.realestate.com.au/sold/property-house-act-gordon-123469498" target="_blank">10 Lawlor Place</a> (below) was sold for $405,000.
<img src="https://www.urban.com.au/images/2017/01/17/Screen%20Shot%202017-01-17%20at%2011.46.59%20AM.png" alt="">
The report is a valuable starting point for property investors researching where to buy next, Kylie Davis, Residex head of marketing said.
“The suburbs listed in the report are the ones that we would expect to perform well in future years based purely upon the statistical patterns that the Residex algorithm has identified in their historical growth rates,” said Tim Lawless, CoreLogic’s Asia Pacific Research Director.
“Residex’s predictive model doesn’t allow for new developments, changing demographic patterns, improved infrastructure or any other such factors and these can have a substantial impact on the capital gain prospects across a suburb or town.”
The December report is the first Predictions Report compiled by Residex since the business was purchased by CoreLogic in 2016, and uses the combined data resources of the two businesses.
The data is drawn from median values using the CoreLogic automated valuation model, rather than median sales prices. This is an important distinction as it takes into account the value of all properties within the suburb, not just those that have transacted across the period. This makes it a more reliable and stable indicator of values across the region.
The suburb of Pemulwuy in NSW held the number two spot with house values expected to provide an average of 8.34% growth per year over the next eight years. Batemans Bay on the NSW South Coast came in third position with an average of 8.29% growth anticipated per year over the next eight years. Houses in Middle Swan ranked fourth while houses in Brighton, Tasmania ranked fifth.
In the national report, 107 suburbs had top predictions for houses while there were two suburbs for units. Across the country, 60 of the top 109 suburbs were in regional Australia and 49 were in city areas.
Broken down by state, 16 were in the ACT, 39 suburbs were within NSW, 15 were in Queensland, there was 1 from SA, 13 from Tasmania, 6 from Victoria and 19 from WA. Separate reports are also available for Victoria, NSW and Queensland.
Mr Lawless said the report was not definitive and other suburbs could also perform strongly. Investors should conduct their own additional research before deciding to commit to a purchase.
“As with any forward looking analytic, the reports are predictions, not a guarantee of future growth, and taking into consideration your own personal circumstances is vital,” Mr Lawless said.
Get your full copy of the <a href="https://www.residex.com.au/top-100-predictions-report?utm_source=blog.residex.com.au&amp;utm_medium=article-link&amp;utm_campaign=kd-160117" target="_blank">Residex Predictions Report here</a> for $195 per state or $250 for the national report.
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Gordon ranked as the best price growth prospect in the country by Residex

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CoreLogic's head of research Tim Lawless estimates that there were around 465,500 dwelling sales over the 2016 calendar year, which was 8.7% lower than a year ago and 3.8% lower than the ten year average.
“Lower sales aren’t necessarily due to lower housing demand," he said.
"In most markets, the slowdown in turnover is more attributable to a shortage of stock available for sale rather than a lack of buyer demand.
"Low stock levels have fuelled a sense of urgency amongst buyers and contributed to short selling times and minimal discounting from vendors.”
Looking ahead across 2017, Mr Lawless noted that the housing market is likely to face some headwinds that may result in a moderation in growth rates.
“Mortgage rates were already trending higher towards the end of 2016, despite any movements in the Reserve Bank cash rate; higher mortgage rates have the potential to quell housing demand, especially considering the record-high levels of household debt which implies consumers are highly sensitive to changes in the cost of debt.
“We’re also seeing high levels of supply weighing down the rate of capital gains in the unit sector.
“With the peak in unit construction due over the coming year, potentially lower unit valuations relative to the off-the-plan contract price, may cause some disruption to the settlement process.”
Additionally, CoreLogic's Tim Lawless noted that regulators may consider implementing policies aimed at reducing investment activity in the housing market.
Based on ABS housing finance data, investors have been progressively increasing their share of mortgage demand since the May and August rate cuts last year. The latest data shows investors now comprise 49% of mortgage demand, excluding refinanced loans.
Mr Lawless said with rental yields at record lows, it is logical to assume investors are largely speculating on future capital gains in dwelling values and disregarding the low yield profile.
"If housing market investment activity does reduce, it has the potential to mitigate some of the upwards pressure on home values.
“Organic factors may also contribute to a reduction in buyer demand and growth rates such as fewer buyers who can afford high housing prices, particularly in Sydney and Melbourne where values have increased substantially more than in other cities.
“Consumer confidence may also affect buyer demand."
Lawless said there is a high correlation between consumer confidence and housing turnover.
"So if confidence measures continue to track lower we can expect consumers to be less willing to make high commitment decisions such as purchasing a property.
"While we expect 2017 dwelling values to rise at a lower rate than in 2016, there is still potential for further growth across Australia’s housing market.
"“Smaller capital cities such as Canberra and Hobart have demonstrated an accelerating growth trend and recent CoreLogic data suggests that Darwin and Perth may be approaching, or moving through the bottom of the downturn.
“Lifestyle markets are also becoming more popular as tourism improves and home owners look to leverage their new found equity,” Mr Lawless said.
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Headwinds ahead in 2017 for housing, but price growth still forecast: Corelogic's Tim Lawless

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Housing price growth of between 2 and 4 percent is expected in Melbourne in 2017 supported by growth in detached house prices of between 5 and 6 percent.
Paul Bloxham, HSBC chief economist as an oversupply is expected in the apartment market, particularly in the inner city
"We doubt that oversupply in the apartment market will have much effect on the detached house market, given the lack of substitutability," he said.
"Like Sydney, tighter prudential settings and a pull-back in foreign demand are expected to weigh on prices, particularly of apartments. "
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Melbourne's detached housing price growth to near six percent: HSBC's Paul Bloxham makes 2017 forecast 

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<div>
GUEST OBSERVER
Sydney and Melbourne continue to show solid house price growth while Adelaide, Brisbane and Perth are much weaker.
Even within cities there is divergence, with oversupply in some apartment markets, while detached house markets lack supply.
We forecast national housing price growth to slow from 7 percent in 2016 to 2-5 percent in 2017; trends across and within cities to vary.
<a href="/images/2016/11/25/Screen%20Shot%202016-11-25%20at%2012.23.38%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/25/Screen%20Shot%202016-11-25%20at%2012.23.38%20PM.png" alt="">
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Still cooling, but with divergence across markets
It has always been a misconception to refer to Australia as having one housing market. After all, Australia's population is strewn across a whole continent and each region is affected by different forces. The cycles in Western Australia and Queensland have been driven by mining, while the south-eastern states have larger services sectors.
<a href="/images/2016/11/25/Screen%20Shot%202016-11-25%20at%2012.25.11%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/25/Screen%20Shot%202016-11-25%20at%2012.25.11%20PM.png" alt="">
Being a currency union, there are clear unifying features, such as the common currency, interest rates and federal fiscal policy and free movement of labour, among other things. As a result, over recent decades, a key rule of thumb has been that mortgage rates drive the national housing price cycle. But this relationship has become more complicated recently, thanks to an unusually large cycle in commodity prices, persistent low global and local interest rates, rising foreign buyer activity, and increased use of prudential settings to tame the lending market.
<a href="/images/2016/11/25/Screen%20Shot%202016-11-25%20at%2012.26.12%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/25/Screen%20Shot%202016-11-25%20at%2012.26.12%20PM.png" alt="">
A key driver of trends over the past five years has been the rebalancing of growth towards the housing and services sectors, supported by the lower interest rates and AUD following the end of the mining boom. This has driven a substantial ramp-up in housing prices in Sydney and Melbourne since mid-2012, up 66 percent and 49 percent, respectively. Over the same period, housing prices in Brisbane, Adelaide and Perth have risen by only 19 percent, 9 percent and 5 percent, respectively.
<a href="/images/2016/11/25/Screen%20Shot%202016-11-25%20at%2012.27.20%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/25/Screen%20Shot%202016-11-25%20at%2012.27.20%20PM.png" alt="">
The worrisome pace of Sydney and Melbourne price growth, particularly in 2014 and 2015, motivated a tightening in prudential settings, starting in late 2014, which has seen some moderation in loan growth. As a result, both cities saw housing price growth slow from double-digit growth last year to high single-digit rates this year. We expect low single-digit rates of housing price growth in these cities in 2017, although trends are expected to vary across the apartment and detached house markets.
<a href="/images/2016/11/25/Screen%20Shot%202016-11-25%20at%2012.28.25%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/25/Screen%20Shot%202016-11-25%20at%2012.28.25%20PM.png" alt="">
A national apartment building boom, which has been part of the rebalancing act, is likely to deliver some oversupply in the Melbourne and Brisbane apartment markets, which is expected to see apartment price falls in these markets. Detached dwelling markets across the country are set to see further price growth, albeit moderating.
 <a href="https://www.about.hsbc.com.au/hsbc-in-australia/management-team" target="_blank">PAUL BLOXHAM</a> IS CHIEF ECONOMIST (AUSTRALIA AND NEW ZEALAND) FOR HSBC. 
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Low single-digit rates of housing price growth in 2017 for Sydney, Melbourne: HSBC's Paul Bloxham

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Melbourne and Hobart lead the nation in year on year residential asking property price growth for October according to SQM Research with median house prices in Melbourne up 13.3 percent to $792,000 and units 5.4 percent to $458,200.
Year on year median asking prices in Hobart for units are up 21.7 percent and house prices up 9.8 percent. 
Louis Christopher, SQM Research managing director, said the number of Australian residential property sale listings fell in most capital cities during the month of October 2016, led by declines in Melbourne, with only Canberra and Perth reporting rises.
<a href="/images/2016/11/03/Screen%20Shot%202016-11-03%20at%201.07.40%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/03/Screen%20Shot%202016-11-03%20at%201.07.40%20PM.png" alt="">
"The number of national residential property listings fell 2.1 percent in October to 339,922 new listings, to be down 6.5 percent from a year earlier," he said.
"While Sydney median asking house prices are up to $1,165,100, vendors for now appear to have been willing sellers at these levels and have not pushed harder.
"Prices in Darwin and Perth are still falling, with the median asking price for a house in Perth at $682,800, 5.2 percent lower than this time last year, and $620,900 in Darwin, down 6.6 percent from a year earlier. 
"Sydney property listings fell 1.4 percent in October, to be down 7.3 percent from one year ago, reflecting a lack of supply which is keeping upward pressure on property prices.
<a href="/images/2016/11/03/Screen%20Shot%202016-11-03%20at%201.07.51%20PM.png" target="_blank">Click to enlarge</a> <img src="/images/2016/11/03/Screen%20Shot%202016-11-03%20at%201.07.51%20PM.png" alt="">
"In Melbourne, listings are down 10.4 percent from a year ago, while they are down 18.2 percent in Hobart, again pressuring housing prices higher.
“The shortage of properties for sale in Melbourne and Hobart is creating upward pressure on property asking prices, while growth in asking prices has cooled slightly in Sydney. Quite frankly to see listings fall during what is normally a month that records seasonal surges, is a concern to me."
 
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Year on year asking price jump for Melbourne, Hobart: SQM Research

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Springvale in Victoria is the suburb with the fastest house price growth, according to Investar’s latest market report.
The website states that Springvale’s growth has increased by 29% compared to last year.
This is followed by Keysborough in Victoria which had a growth of 27% with Harrington Park and Rosemeadow taking equal third place with 25%.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="76">
Suburb
</td>
<td valign="top" width="69">
State
</td>
<td valign="top" width="70">
Dwelling type
</td>
<td valign="top" width="70">
Bedrooms
</td>
<td valign="top" width="70">
Median listing price
</td>
<td valign="top" width="70">
1 year change
</td>
</tr>
<tr>
<td valign="top" width="76">
Springvale
</td>
<td valign="top" width="69">
VIC
</td>
<td valign="top" width="70">
House
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="70">
$600,000
</td>
<td valign="top" width="70">
29%
</td>
</tr>
<tr>
<td valign="top" width="76">
Keysborough
</td>
<td valign="top" width="69">
VIC
</td>
<td valign="top" width="70">
House
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="70">
$791,500
</td>
<td valign="top" width="70">
27%
</td>
</tr>
<tr>
<td valign="top" width="76">
Harrington Park
</td>
<td valign="top" width="69">
NSW
</td>
<td valign="top" width="70">
House
</td>
<td valign="top" width="70">
4
</td>
<td valign="top" width="70">
$910,000
</td>
<td valign="top" width="70">
25%
</td>
</tr>
<tr>
<td valign="top" width="76">
Rosemeadow
</td>
<td valign="top" width="69">
NSW
</td>
<td valign="top" width="70">
House
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="70">
$500,000
</td>
<td valign="top" width="70">
25%
</td>
</tr>
<tr>
<td valign="top" width="76">
Berkeley Vale
</td>
<td valign="top" width="69">
NSW
</td>
<td valign="top" width="70">
House
</td>
<td valign="top" width="70">
3
</td>
<td valign="top" width="70">
$472,500
</td>
<td valign="top" width="70">
24%
</td>
</tr>
</tbody></table>
An example of a house priced around the $600,000 median in Springvale is one that has four bedrooms at <a href="https://www.realestate.com.au/sold/property-house-vic-springvale-123623822" target="_blank">29 Lee Avenue</a> (above) that was recently sold for $602,000.
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