<p data-end="587" data-start="368">Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.</p>

<p data-end="778" data-start="589">The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.</p>

<p data-end="907" data-start="780"><a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.</p>

<p data-end="1052" data-start="909">The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.</p>

<p data-end="1311" data-start="1054">The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.</p>

<p data-end="1451" data-start="1313">The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.</p>

<p data-end="1676" data-start="1453">MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.</p>

<p data-end="1908" data-start="1678">Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.</p>

<p data-end="2142" data-start="1910">The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.</p>

<p data-end="2142" data-start="1910"><img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" /></p>

<p data-end="2308" data-start="2144">MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.</p>

<p data-end="2648" data-start="2310">"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.</p>

<p data-end="2797" data-start="2650">"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."</p>

<p data-end="2938" data-start="2799">The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.</p>

<p data-end="3216" data-start="2940">Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.</p>

<p data-end="3325" data-start="3218">Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.</p>

<p data-end="3442" data-start="3327">"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.</p>

<p data-end="3662" data-start="3444">"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."</p>

<p data-end="3818" data-start="3664">MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.</p>

<p data-end="4076" data-start="3820">"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.</p>

<p data-end="4375" data-start="4078">"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."</p>

<p data-end="4503" data-start="4377">Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.</p>

<p data-end="4741" data-start="4505">"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."</p>

<p data-end="4910" data-start="4743">The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.</p>

<p data-end="4951" data-start="4912">MAYD is targeting an early 2027 launch.</p>


Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

<main data-perf-region="main">
<p data-end="600" data-start="394">Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.</p>

<p data-end="733" data-start="602">But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.</p>

<p data-end="970" data-start="735">Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.</p>

<p data-end="970" data-start="735">[smartcode_project:default project_id=152737 project_image_fid=377679]</p>

<p data-end="1159" data-start="972">The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.</p>

<p data-end="1357" data-start="1161">It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.</p>

<p data-end="3400" data-start="3216">[smartcode_project:default project_id=152737 project_image_fid=377675]</p>

<p data-end="3400" data-start="3216">Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.</p>

<p data-end="1664" data-start="1517">Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.</p>

<p data-end="1826" data-start="1666">Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.</p>

<p data-end="1826" data-start="1666">[smartcode_project:default project_id=152737 project_image_fid=377685]</p>

<p data-end="2045" data-start="1828">Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.</p>

<p data-end="2269" data-start="2047">"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.</p>

<p data-end="2430" data-start="2271">A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.</p>

<p data-end="2606" data-start="2432">It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.</p>

<p data-end="2724" data-start="2608">At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.</p>

<p data-end="2892" data-start="2726">Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.</p>

<p data-end="2892" data-start="2726">[smartcode_project:default project_id=152737 project_image_fid=377680]</p>

<p data-end="3004" data-start="2894">Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.</p>

<p data-end="3214" data-start="3006">"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.</p>

<p data-end="3400" data-start="3216">The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.</p>

<p data-end="3400" data-start="3216">More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.</p>

<p data-end="3670" data-start="3538">&nbsp;</p>

<p data-end="3670" data-start="3538">[smartcode_project_cta:default project_id=152737]</p>

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>


Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

<p>A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.</p>

<p>Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.</p>

<p>Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374005]</p>

<p>The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.</p>

<p>Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.</p>

<p>Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374010]</p>

<p>Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.</p>

<p>The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.</p>

<p>“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.</p>

<p>[smartcode_project:default project_id=150999 project_image_fid=374002]</p>

<p>“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”</p>

<p>The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.</p>

<p>[smartcode_project_cta:default project_id=150999]</p>


Maréa Residences brings parkside apartments to Coolangatta

<p data-end="535" data-start="324">Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.</p>

<p data-end="717" data-start="537">The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.</p>

<p data-end="918" data-start="719">The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.</p>

<p data-end="1131" data-start="920">PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.</p>

<p data-end="1131" data-start="920"><img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" /></p>

<p data-end="1318" data-start="1133">Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.</p>

<p data-end="1433" data-start="1320">The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.</p>

<p data-end="1658" data-start="1591">A significant component of The One will be its residential amenity.</p>

<p data-end="1864" data-start="1660">More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.</p>

<p data-end="2011" data-start="1866">The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.</p>

<p data-end="2011" data-start="1866"><img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" /></p>

<p data-end="2191" data-start="2013">The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.</p>

<p data-end="2365" data-start="2193">PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.</p>

<p data-end="2473" data-start="2367">“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.</p>

<p data-end="2775" data-start="2475">“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”</p>

<p data-end="2943" data-start="2777">The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.</p>

<p data-end="3145" data-start="3001">PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.</p>


PDG secures approval for $1.5bn Southbank apartment development, The One

<p>Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.</p>

<p>The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.</p>

<p>That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.</p>

<p>The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.</p>

<p>A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.</p>

<p>&nbsp;</p>

<p>Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.</p>

<p>Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.</p>

<p>While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;</p>

<p>Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.</p>


First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Price Growth

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<p>New growth stars will emerge in 2016. You’re most likely to find them in Brisbane, Melbourne, regional New South Wales and regional Queensland, although others such as Adelaide and Hobart may put their hands up.</p>
<p>Here are five areas I think are worth watching as we get into the New Year. These are all places that should produce price growth in 2016, on the back of serious momentum with rising sales activity in their markets.</p>
<p>1 Oxenford and the northern growth corridor, QLD:<span style="line-height: 1.3em;"> </span></p>
<p>The Gold Coast is now the clear national leader among the Local Government Areas of Australia. It has the most growth suburbs, by a wide margin.<span style="line-height: 1.3em;"> </span></p>
<p>These rising suburbs are found right across Gold Coast city, but the growth corridor stretching north from the Gold Coast towards Brisbane is the standout area, with growth suburbs either side of the Pacific Motorway.</p>
<p>Oxenford stands out, with sales rates lifting from 80-90 per quarter last year to 130-135 in the past two quarters. Other growth suburbs in this precinct include Coomera, Upper Coomera, Pimpama and Ormeau.<strong style="line-height: 1.3em;"> </strong></p>
<p>2 Lalor and Whittlesea, VIC:</p>
<p>The focus of Melbourne’s up-cycle has switched increasingly from the middle market to the outer suburbs, where affordability and good infrastructure are key drivers.</p>
<p>The Whittlesea LGA in the northern suburbs is leading the way, headed by the suburb of Lalor (median house price $400,000), where sales rates have increased from around 70 per quarter last year to above 100 more recently.<span style="line-height: 1.3em;"> </span></p>
<p>Other growth suburbs in this precinct include Epping, Mill Park, Doreen, Mernda and Thomastown.<strong style="line-height: 1.3em;"> </strong></p>
<p>3 Beenleigh and Logan City, QLD:</p>
<p>Logan City, which borders the Gold Coast to the south and Brisbane City to the north, has led the revival of Greater Brisbane markets in 2015.<span style="line-height: 1.3em;"> </span></p>
<p>It has more growth suburbs than any other precinct in the Brisbane metropolitan area, headed by Beenleigh, the administration centre for the LGA, where house sales have increased steadily over the past 12 months or so.</p>
<p>Another standout suburb in Logan City is affordable Eagleby, where sales in the past four quarters have increased from 59 to 65 to 95 to 102.</p>
<p>4 Forster-Tuncurry, NSW:</p>
<p>The Great Lakes LGA in the Mid North Coast region of New South Wales is a standout performer is this latest survey for <em>The Price Predictor Index</em>.</p>
<p>Residential sales in Forster, about 300km north of Sydney, have risen from 106 to 114 to 139 to 152 to 155 in consecutive quarters, while neighbour Tuncurry has recorded a similar pattern.</p>
<p class="Body">5 Point Cook and Wyndham City, VIC:</p>
<p class="Body">Another example of the emergence of the affordable outer ring suburbs of the Melbourne metropolitan area is Wyndham City in the south-west heading towards Geelong.</p>
<p class="Body">A number of suburbs have strong growth trajectories, headed by the developing suburb of Point Cook, where quarterly sales in the past 18 months have been 289, 313, 350, 396, 395 and 420.</p>
<p class="Body">Wyndham Vale is another standout market in this precinct, with quarterly sales levels lifting from 85-90 about 18 months ago to around 140 in the September 2015 Quarter.</p>
<p class="Body"> </p>
<p class="Body"><em>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em></p>
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terryryder-YECXbqmri2

5 key suburbs across Australia to watch in 2016: Terry Ryder

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<div>
<p><span>GUEST OBSERVER</span></p>
<p><span>According to the Wage Price Index wages growth was 0.6% quarter on quarter in the September quarter or 2.3% year on year. This was in line with market expectations.</span></p>
<p><span>Private wages growth was lower at 0.5% qoq or 2.1% year on year.</span></p>
<p><span>Wages growth remains at a record low – at least for the period covered by the Wage Price Index.</span></p>
</div>
<div><span style="font-family: Calibri, sans-serif; font-size: small;">Click to enlarge</span></div>
<div><span style="font-family: Calibri, sans-serif; font-size: small;"><img src="/images/2015/11/18/Screen%20Shot%202015-11-18%20at%202.13.16%20PM.png" alt="" width="611" height="401"></span></div>
<div>
<p><span>Quite clearly the adjustment flowing from the end of the mining boom and associated weak demand  in the economy is continuing to show up in weak wages growth. </span></p>
<p><span>This in turn is helping protect employment and partly explains why jobs growth has been able to come in better than expected despite the slow rate of economic growth. So while weak wages growth is a dampener on its own for consumer spending, it’s partly offset by solid jobs growth.</span></p>
<p><span>It also means that inflationary pressures coming from the labour market remain weak, reinforcing the RBA’s easing bias which is predicated on the outlook for continuing low or benign inflation.</span></p>
<p><span> </span></p>
<p><span><a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank"><em>SHANE OLIVER</em></a></span><span><em> is head of investment strategy and economics and chief economist at </em><a href="https://www.ampcapital.com.au/home" target="_blank"><span><em>AMP Capital</em></span></a><em> and is responsible for AMP Capital's diversified investment funds.</em></span></p>
<span style="font-family: Calibri, sans-serif; font-size: small;"><span><em><span><a href="https://www.propertyobserver.com.au/https://plus.google.com/110172465327488162875?rel=author" target="_blank"><br></a></span></em></span></span>
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soliver-smf6LQXgW9

Australian wages growth remains at a record low: AMP Capital's Shane Oliver

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<p><span>The rate of dwelling price growth across the capital cities slowed from 11.5% to 7.4% between April 2014 and March 2015, according to the latest r</span><span style="line-height: 1.3em;">esearch note from the Housing Industry Association, Perspectives on Australian Dwelling Prices.</span></p>
<p><span>The report found since March the pace of aggregate dwelling price growth increased to 10.1% during October 2015. </span></p>
<p><a href="/images/2015/11/5/Screen%20Shot%202015-11-05%20at%2011.46.16%20AM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2015/11/5/Screen%20Shot%202015-11-05%20at%2011.46.16%20AM.png" alt=""></p>
<p><span>HIA senior economist </span><span style="line-height: 1.3em;">Shane Garrett said </span><span style="line-height: 1.3em;">the current market is quite polarised in terms of dwelling price growth. </span></p>
<p><span style="line-height: 1.3em;">"Two of the eight capital cities have seen prices drop over the past year, while two are experiencing growth at double-digit rates," he said.</span></p>
<p><span style="line-height: 1.3em;">"Tellingly, no capital city currently </span><span style="line-height: 1.3em;">lies in the ‘middle </span><span style="line-height: 1.3em;">ground</span><span style="line-height: 1.3em;">’ </span><span style="line-height: 1.3em;">price growth band of between 5% and 10%.</span></p>
<p> </p>
<div class="page" title="Page 11">
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<p><span>"With respect to dwelling price growth, the situation in Australia is currently quite unique, with a significant gap between the high growth markets (Sydney and Melbourne) and those cities experiencing falling prices."</span></p>
<p><a href="/images/2015/11/5/Screen%20Shot%202015-11-05%20at%2011.52.21%20AM.png" target="_blank"><span>Click to enlarge</span></a></p>
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National residential dwelling price growth market polarised: HIA

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<p><span>Employment levels are a hidden driver in the current housing market with low interest rates contributing to the recent growth in home values, according to CoreLogic RP Data research analyst Cameron Kusher.</span></p>
<p><span>He said employment levels help explain why home value growth has been much stronger in Sydney and Melbourne over recent years than in other cities.</span></p>
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<p><span style="line-height: 1.3em;">"The recent relative strength in job creation in Brisbane and Hobart may signal increasing housing demand in those cities over the coming year,” he said. </span></p>
<p><span>"Full-time employment growth has recently ramped up in Brisbane and Hobart, while in Adelaide, shedding of full-time jobs continued and much the same scenairo occurred in Perth and the ACT.</span></p>
<p><span>"Although the rate of full-time jobs growth was lower in Sydney, it , along with the NT, have been the only two regions that have recorded a greater total </span><span style="line-height: 1.3em;">increase in full-time employment than part-time employment since over the past 12 months. It is an obvious statement but full-time employment growth would seem to be more important than part-time as it means the employee is working more and in most cases earning more money which is in- turn more conducive to home ownership.</span><span style="line-height: 1.3em;">” </span></p>
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Employment a hidden driver in current housing market: Cameron Kusher

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<p><span>Bravo Eliza Owen of </span><em>On the House</em><span> for this fabulous time lapse video presentation of Sydney median house values over the past 35 years. </span></p>
<p>You can watch it <a href="https://www.youtube.com/watch?v=cC0xL24ecs0" target="_blank">here</a>.</p>
<div>There are a number of fascinating aspects to this piece, which suggested to me that home buyers and investors seeking long term capital growth should aim to buy in the best-located suburb that they can afford, and should also look for scarcity value.</div>
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<div>Bellevue Hill had a median price which broke through $200,000 in 1980 - around double Sydney's median house price at that time - yet the median house price in the suburb has exploded to $4.2 million today, more than four times the median house price in the harbour city.</div>
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<div>How so? A combination of a lack of new building - the result being scarcity value - combined with gross income and equity growth, with buyers and wealthy residents at the premium end of the market rarely reliant upon linear salary income for their house purchases. </div>
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<div>Other well located inner suburbs have demonstrated massively strong price growth as they have gentrified. </div>
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<div>Note how housing booms and corrections have been recurrent and have repeatedly been characterised by massive boosts in price in locations close to the city, with suburbs on the north shore and close to the water leading price booms and the western suburbs lagging behind.<br><br>Being located near a train line with a direct city link can help, particularly it seems on the north shore (cf. Killara, Gordon, which have historically led price growth in previous cycles).<br><br>On the other hand being in an industrial suburb under a flight path, historically at least, has been a negative, with inner western suburbs such as Mascot having lagged through the cycle. </div>
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<div>Due to this disparate nature of capital growth which has favoured suburbs closer to the city, the <em>On the House</em> figures show that today there is a significantly wider range of median house price values by suburb across Sydney than there was in the past.<br><br>I expect this widening of prices to continue. </div>
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<div>With a good deal of building having taken place on Sydney's outer south western fringe, median home values have increased sharply in that sub-region since 2011.</div>
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<div>However, recent auction results (or more accurately, should one say, the dearth of positive results at auction, with the outer south west recording a worrying preliminary clearance rate of "n/a" this week) suggest that a sharp correction could be in the post for that sub-region.</div>
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<div>Very interesting stuff.</div>
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<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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pwargent-M4siyDbqQY

35 years of Sydney house prices: Pete Wargent

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<p>Brisbane's property market still faces challenges, estate agent John McGrath acknowledges.</p>
<p><span>His latest research showed price growth did slow to just 4% along the Brisbane to Gold Coast corridor for the financial year.</span></p>
<p><span>"The reasons behind this include the lowest net interstate migration in more than two decades; a weak state economy; comparatively high unemployment; and the change of government," he said.</span></p>
<p><span>"At a macro level, there’s obviously been challenges.</span></p>
<p><span>But he told his <em>Switzer</em> blog readers that drilling down though, some areas are experiencing exciting activity.</span></p>
<p><span>Low interest rates were encouraging upgraders in the $1 million-plus bracket in premium areas such as Ascot, Hawthorne, New Farm, Bulimba and Paddington.</span></p>
<p><span>"Many are choosing to keep their existing homes in the $500,000 to $1 million bracket for investment.</span></p>
<p><span>"First home buyers are also back, buying in affordable suburbs like Mansfield, Salisbury and Belmont where homes are selling faster than anywhere else in Brisbane," he said.</span></p>
<p><span>Solid demand and a shortage of homes for sale in some areas pushed Brisbane’s auction clearance rate to its highest level on record (since 2009) at 50% for the year to August.</span></p>
<p><span>By comparison, over the same period of the year, Brisbane recorded 46% in 2014, 40% in 2013, 33% in 2012 and 24% in 2011.</span></p>
<p><span>McGrath expressed concerns about some Brisbane apartment markets.</span></p>
<p><span>"Apartments are a different story, with a rising oversupply in inner city areas like West End, Fortitude Valley, Newstead and Hamilton.</span></p>
<p><span>"Buyers are very discerning and only competing for properties with unique features.</span></p>
<p><span>"Downsizers are snapping up three bedroom properties but the smaller non-descript options are sitting on the shelf.</span></p>
<p><span>He suggested typically, an increasing house price gap between Brisbane and Sydney was pivotal in creating new market energy.</span></p>
<p><span>"By August 2015, the gap was $431,500 – the largest gap in dollar terms on record with Sydney house prices 88% higher than Brisbane, according to CoreLogicRP Data.</span></p>
<p><span>"As a result, we are now seeing a steady flow of Sydney and Melbourne buyers heading north.</span></p>
<p><span>"Southern investors are chasing capital growth and the highest yields of the major capital cities, while young families are seeking affordability and lifestyle."</span></p>
<p><span>He said owner-occupiers purchasing Queenslander-style family homes in blue chip areas are paying half what they would in Sydney for an equivalent home.</span></p>
<p><span>"Many are leasing these properties for decent yields while they look to secure work before moving here permanently."</span></p>
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jchancellor-FAypfDUnLy

Brisbane faces challenges, as John McGrath warns of apartments sitting on the shelf

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<p>Melbourne pipped Darwin after its slightly better decade price growth, according to CoreLogic RP Data annual dwelling value changes chart. </p>
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Melbourne pips Darwin after best decade price growth: CoreLogic RP Data annual dwelling value changes

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<p><span>The most buoyant market in Ballarat are properties priced between $200,000 and $250,000, according to Herron Todd White.</span></p>
<p><span>Herron Todd White's October Month in Review said almost all suburbs in Ballarat have properties within in this price bracket. </span></p>
<p><span>"Areas such as Ballarat Central, Soldiers Hill, Black Hill, Ballarat East and Golden Point have shown some good growth in the past 12 to 24 months," HTW noted.</span></p>
<p><span style="line-height: 1.3em;">"The main drivers of the market in these areas is </span><span style="line-height: 1.3em;">the scarcity of land, aesthetic appeal of the period properties, proximity to infrastructure, strong rental returns and the relative affordability.</span></p>
<p><span style="line-height: 1.3em;">"The flow on effects in the near term would be the stagnation of some new areas in the region such as the new estate areas of Lucas and Delacombe. </span></p>
<p><span style="line-height: 1.3em;">"However in the event the prices close to town continued to grow, the new estate areas would become more attractive as purchasers would compare the two and perhaps begin to see greater value in a house and land package scenario."</span><span style="line-height: 1.3em;"> </span></p>
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$250-300k market bouyant in Ballarat: Herron Todd White

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<p>GUEST OBSERVER</p>
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<p><span>House price growth eased in September, led by the key Sydney market, which posted its weakest monthly result in two and a half years. Overall, the data are consistent with our view that the housing market is beginning to soften. </span></p>
<span style="line-height: 1.3em;">House prices were unchanged in Sydney in September in seasonally adjusted terms, ending a run of 1-2% monthly growth </span><span style="line-height: 1.3em;">over the past year. This result is in line with the sharp fall in auction clearance rates in Sydney (Figure 1) as demand has eased somewhat and housing supply risen sharply.</span>
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<div class="column"><span style="line-height: 1.3em;">This easing demand is supported by yesterday’s private credit data, which showed a further slowing in growth in investor housing credit. This suggests that APRA’s macro prudential measures (which have seen tighter borrowing conditions and higher interest rates for investors) are having the desired effect of containing investor borrowing and taking some heat out of the market.</span></div>
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<br><span style="line-height: 1.3em;">Meanwhile, Melbourne house prices posted strong growth in September, up 1.2% m/m (seasonally adjusted). It appears that lower auction clearance rates have been slower to impact on house price growth in Melbourne compared with Sydney. But as this trend continues to unfold, we expect to see price growth in Melbourne ease over coming months. </span>
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<p><em>Justin Fabo is senior economist, ANZ Research and <span style="line-height: 1.3em;">Daniel Gradwell is economist, ANZ Research. Both can be contacted <a href="https://www.anz.com/corporate/research/" target="_blank">here.</a></span></em></p>
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Sydney house price growth eases: ANZ Research

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<p><span>GUEST OBSERVER</span></p>
<p><span>Latest dwelling price figures from the Australian Bureau of Statistics indicate that the gap between the growth rates in the eight capital cities has widened.</span></p>
<p><span>Over the year to June 2015, the ABS Residential Property Price Index rose by 9.8%, with a 4.7% increase occurring during the June 2015 quarter itself. Annual house price growth was 10.5%, with prices in the attached dwelling segment increasing by 7.5% over the same period. </span></p>
<p><span>The variatio</span><span>n in dwelling price growth across Australia’s capital cities is remarkable.</span></p>
<p><span>On the one hand, price growth is very robust in both Sydney </span><span>and Melbourne, while prices have actually eased back a little in cities lik</span><span>e Perth and Darwin.</span></p>
<p><span>The wide divergence of dwelling price growth across the capitals is indicative of the mixed economic conditions across Australia. It highlights the challenges </span><span>in prescribing ‘one size fits all’ policy responses </span><span>to the housing market.</span></p>
<p><span>The strength of dwelling price growth in Sydney </span><span>is receiving much attention. However, the upturn in Sydney prices follows a decade which saw the city lag far behind the other seven capitals in terms of </span><span>price growth</span><span>. </span></p>
<p><span>Price pressures ultimately represent the inadequate response of supply to much stronger demand </span><span>conditions. We need to see more flexibility in the planning process and in the release of new residential land in order to take the heat out of </span><span>prices. </span></p>
<p><span>In the year to June 2015, dwelling price growth was strongest in Sydney (+18.9%), followed by Melbourne (+7.8%) and Brisbane (+2.9%). The pace of dwelling price growth was more modest in Canberra, (+2.8%), Adelaide (+2.7%) and Hobart (+1.5%). Over the same 12 month period, dwelling prices actually declined in both Perth (-1.2%) and Darwin (-1.8%). </span></p>
<p><span><em><span>Shane Garrett is senior economist for HIA and can be contacted <a href="https://hia.com.au/en/BusinessInfo/economicInfo/EcoGroup.aspx" target="_blank">here</a>.</span></em></span></p>
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