<p>The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.</p>

<p>Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."</p>

<p>That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.</p>

<p>Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.</p>

<p>[smartcode_project:default project_id=144913 project_image_fid=297740]</p>

<p>Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.</p>

<p>The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.</p>

<p>[smartcode_project:default project_id=144913 project_image_fid=297741]</p>

<p>The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.</p>

<p>Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.</p>

<p>[smartcode_project:default project_id=144913 project_image_fid=297735]</p>

<p>Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.</p>

<p>Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.</p>

<p>[smartcode_project_cta:default project_id=144913]</p>


Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

<p>National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.</p>

<p>Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373556]</p>

<p>The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.</p>

<p>Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.</p>

<p>"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.</p>

<p>"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.</p>

<p>"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373559]</p>

<p>Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.</p>

<p>The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373583]</p>

<p>Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.</p>

<p>Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.</p>

<p>[smartcode_project:default project_id=145922 project_image_fid=373571]</p>

<p>Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.</p>

<p>Completion of Crest &amp; Walker is slated for late 2028.</p>

<p>[smartcode_project_cta:default project_id=145922]</p>


Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

<p>The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.</p>

<p>It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.</p>

<p>Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.</p>

<p>While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=68833]</p>

<p>Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.</p>

<p>The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.</p>

<p>"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.</p>

<p>"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.</p>

<p>"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=360215]</p>

<p>One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.</p>

<p>"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.</p>

<p>While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.</p>

<p>"The size of the site is something that would be incredibly difficult to replicate today," she says.</p>

<p>"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."</p>

<p>[smartcode_project:default project_id=6515 project_image_fid=68839]</p>

<p>There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.</p>

<p>As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.</p>

<p>"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.</p>

<p>A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.</p>

<p>The remaining apartments are ready to inspect in person, by appointment.</p>

<p>[smartcode_project_cta:default project_id=6515]</p>


A decade in the making: Residents to move into Chevron One as construction wraps up

<p>A general rule of thumb in new apartment developments is that the penthouses get the rooftop.</p>

<p>It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.</p>

<p><a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.</p>

<p>Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.</p>

<p>The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374053]</p>

<p>"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.</p>

<p>"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.</p>

<p>"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374052]</p>

<p>The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.</p>

<p>Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=372547]</p>

<p>The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.</p>

<p>The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=374054]</p>

<p>Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.</p>

<p>Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370962]</p>

<p>While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.</p>

<p>It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.</p>

<p>Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.</p>

<p>[smartcode_project:default project_id=146527 project_image_fid=366550]</p>

<p>That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.</p>

<p>Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.</p>

<p>[smartcode_project_cta:default project_id=150017]</p>


Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

<p>As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.</p>

<p>At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=359199]</p>

<p>The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.</p>

<p>Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.</p>

<p>In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=360299]</p>

<p>The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.</p>

<p>Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.</p>

<p>This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.</p>

<p>[smartcode_project:default project_id=426 project_image_fid=360300]</p>

<p>What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.</p>

<p>The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.</p>

<p>Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.</p>

<p>[smartcode_project_cta:default project_id=426]</p>


Elevated amenity anchors daily life at Aeris, Melrose Park

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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<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>
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<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>
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<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>
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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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mick.cee-iDmgDDAmu8

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>
<p><a href="/images/2015/10/29/Screen%20Shot%202015-10-29%20at%202.47.48%20PM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/10/29/Screen%20Shot%202015-10-29%20at%202.47.48%20PM.png" alt="" width="716" height="390"></span></p>
<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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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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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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