A wave of investment, renewal and precinct growth continues to shape the northern edge of Macquarie Park, where daily life is supported by a rare combination of university activity, corporate employment, major retail, and expansive green corridors. It’s this convergence of amenity and connectivity underpins the setting for <a href="https://www.apartments.com.au/developers/urban-property-group">Urban Property Group</a>’s <a href="https://www.apartments.com.au/new-apartments/la-vera-94-talavera-road-macquarie-park-nsw-2113">La Vera</a>, which has now topped out and is tracking toward completion in mid-2026.

Within this pocket of the precinct, residents move easily between the area’s key anchors. Macquarie Centre, home to more than 360 retailers, fresh food offerings, dining and entertainment, sits at the heart of local convenience and functions as a major transport interchange. The Metro, T1 rail line and extensive bus network place much of Sydney within quick reach, while surrounding arterial links support direct access to neighbouring districts.

[smartcode_project:default project_id=134951 project_image_fid=5829]

Green space remains a defining feature of the immediate environment. Lane Cove National Park stretches along the northern boundary of the precinct, offering bushland trails, cycling routes and quiet riverfront pockets. Shrimptons Creek and the campus grounds of Macquarie University extend these recreational networks, softening the urban setting and creating a daily connection to nature that informs the project’s architectural response.

<a href="https://www.apartments.com.au/architects/cox-architecture">Cox Architecture</a> have shaped La Vera around these contrasts. The building’s northern elevation adopts an organic, curvilinear form that mirrors the natural topography of the national park. Three sculpted forms soften the tower’s profile and encourage a stronger transition between indoor living areas, balconies and the broader landscape.

[smartcode_project:default project_id=134951 project_image_fid=223737]

Cox Director Felipe Miranda says the building’s outlook played a central role in the design process.

“The vision for the project was to conceive a building that adopted an organic and curvilinear form to the northern portion that faces the Lane Cove National Park… The residents that reside in the northern portion of the building benefit by having beautifully crafted curved balconies that speak to the natural context and heighten the relationship of their internal living spaces to the external balconies,” Felipe Miranda of Cox Architecture said.

Toward the city-facing side, the design shifts to a more urban expression. A gridded facade and extensive glazing capture CBD views, creating a dual strategy that blends ecological outlooks with metropolitan orientation.

[smartcode_project:default project_id=134951 project_image_fid=5827]

La Vera delivers 169 residences across one- to four-bedroom layouts, reflecting the needs of young families, downsizers, first-home buyers and investors seeking long-term certainty within a high-amenity location. From the project, residents can walk to Macquarie University, Macquarie Hospital and nearby corporate offices, reach national park trails within minutes, and enjoy retail and dining without relying on a car.

The project is delivered by Urban Property Group, a 4.5-star iCIRT-rated developer-builder with more than three decades of experience. The company has become a leader in adopting 10-Year Latent Defects Insurance (LDI), first introduced on its Parq Bexley development and now embedded into its pipeline.

[smartcode_project:default project_id=134951 project_image_fid=223727]

La Vera is the first development in Macquarie Park approved to offer this 10-year LDI policy, adding another layer of protection for purchasers and reinforcing the transparency of the construction process.

Urban Property Group CEO Patrick Elias says this assurance has become increasingly important for buyers navigating the off-the-plan market.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been… Having LDI is a tool to portray the confidence that we have in our product, and a confidence we want buyers to share,” Urban Property Group CEO Patrick Elias said.

Urban Property Group's in-house construction team is forecasting a mid-2026 completion, with <a href="https://www.apartments.com.au/project-marketer/home789">HOME789</a> appointed as the project marketer.

[smartcode_project_cta:default project_id=134951]

Staff Writer

La Vera delivers a nature-connected address within Macquarie Park’s core

<a href="https://www.apartments.com.au/buildings/aura-by-aqualand-north-sydney-168-walker-street-north-sydney-nsw-2060">AURA</a>&nbsp;doesn’t just rise over North Sydney, it redefines it. Now in its final release, <a href="https://www.apartments.com.au/developers/aqualand-australia">Aqualand</a>’s $1 billion architectural statement is not just complete, but already reshaping the way people live, connect and dine in this rapidly evolving harbourside CBD.

Positioned beside the new Victoria Cross Metro Station and boasting panoramic views across Sydney Harbour, Aura’s 386 residences crown a mixed-use precinct designed with unapologetic ambition. The curvaceous sandstone-inspired form by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, paired with <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richard Stanisich</a>’s understated interiors, sets a design tone that’s both monumental and intimate.

At its peak, literally, the two penthouses so spectacular they command their own names; La Davina and Il Magnate. The residents are spread across the&nbsp;entire top floor, offering what many consider the most refined residences ever built in North Sydney. Designed by Richard and Kirsten Stanisich, each four-bedroom home is meticulously crafted to evoke calm, space, and permanence.&nbsp;

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/VB70993aG-I?si=adRBlXQliYmYvaSz" title="YouTube video player" width="560"></iframe>

The kitchens are fully wrapped in natural stone, with integrated Gaggenau appliances, Sub-Zero fridges, concealed sculleries, and even a zip hydro tap delivering boiling, chilled and sparkling water on demand. A linear stone fireplace anchors the open-plan living space, dividing lounge and dining zones with quiet sophistication.&nbsp;

[smartcode_project:default project_id=30959 project_image_fid=292861]

The master suite, meanwhile, feels more like a private retreat, complete with a custom stone makeup vanity, walk-through dressing area, and spa-inspired ensuite with heated stone floors, a freestanding Villeroy &amp; Boch tub, and timber veneer joinery throughout.

Kirsten Stanisich, Director of Richards Stanisich, said the penthouses offer incredible scale reflective of a single residence.&nbsp;

“We sought inspiration for these remarkable residences from the classic top-floor Parisian apartment," Stanisich said.

"We looked at what made these French apartments so elegant and found it really came down to their scale. It was ultimately this generosity of space that we used for the AURA penthouses, where we’ve designed considered rooms with deep large-scale proportions."

[smartcode_project:default project_id=30959 project_image_fid=310337]

Everyday living at Aura feels no less elevated. A dedicated 24-hour concierge, Technogym fitness centre, sky dining terraces, and a resort-style pool serve a lifestyle designed to rival luxury hotels.

At street level, Aqualand’s own hospitality arm, Etymon Projects, curates a precinct of LA-style bistros, Japanese fine dining, and local wine bars, all seamlessly integrated into the building’s sculptural podium.

[smartcode_project:default project_id=30959 project_image_fid=310337]

This final chapter, aptly dubbed The Finale, is more than a sales phase, it’s an invitation to two of the most exclusive apartments ever to be built in North Sydney.

With limited residences remaining, buyers can access curated incentives including stamp duty rebates, rental guarantees, legal fee coverage, and even $20,000 towards dining within the precinct.

From generous one-bedders to The Icons, two singular penthouses priced well into prestige territory, Aura’s offerings reflect a scale and calibre rarely seen in urban Sydney. And with move-in now immediate, this is no longer a promise of future luxury. It’s happening.

[smartcode_project_cta:default project_id=30959]

Aqualand unveils penthouse collection at AURA By Aqualand in North Sydney

There’s no sign of the development wave that began several years ago slowing along Old Burleigh Road.

Around 10 new apartment developments are either underway or preparing to launch along the 800-metre strip stretching from the southern edge of Surfers Paradise towards the heart of Broadbeach, collectively adding just shy of 1,000 new apartments to the beachfront corridor.

The latest plans propose a further 30 apartments to replace an original six-unit walk-up on a 658 sqm site at <a href="https://www.apartments.com.au/new-apartments/20a-old-burleigh-road-surfers-paradise-qld-4217">20A Old Burleigh Road</a>. The 14-storey building has been designed by Ferro Chow Architecture, which recently joined the Elevation Architecture Group.

The developer behind the project is Geoffrey Booth, whose Future Liv In has focused on delivering rental accommodation across regional Australia.

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="99d393e7-d404-43bc-80cb-6255c39b83d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.44%E2%80%AFPM.png?VersionId=ZFT8F3mOny4M4ut.kFF3woC9WH9oR5gT" />

The Old Burleigh Road development will comprise 18 two-bedroom apartments, 10 three-bedroom apartments, and a single four-bedroom residence occupying the entirety of level 12. Above, the building will be crowned by a two-storey penthouse with its own private lift, several multi-purpose rooms, and two rooftop terraces — one featuring a puppy lawn and spa, the other offering a private swimming pool, sunset deck, and built-in barbecue.

Resident amenities will be located on the second level and include a pool with adjoining spa, cabana, and pool deck, along with an indoor residents’ lounge featuring a bar and an alfresco barbecue kitchen.

In the architectural statement submitted by Elevation Architecture, the project is referred to as “UMI”, which the firm says has been “inspired by the majestic hinterlands and shaped by the coastal climate”.

“It is an exemplar of how community living can still feel at one with nature, breathable, and deeply connected in place,” the architects noted.

They added that the site benefits from established building separation to adjoining towers, helping to maintain privacy, sunlight, and residential amenity, while still offering direct beach access within an urban setting.

“Drawing inspiration from the Gold Coast hinterlands and the region’s natural landscape, the podium and tower detail highlights the contrasting elements of treetop green and cliff-face peach. The vibrant texture and materiality shaped by time has a richness in depth and character.”

<img alt="Old Burleigh Road" data-entity-type="file" data-entity-uuid="b3d6c923-a0ab-4d74-86da-177313447e8e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2012.28.38%E2%80%AFPM.png?VersionId=i2fygmoVQM6hWpbATTAW_yTitoMTrnI1" />

Old Burleigh Road has become a hotspot for developers, with the three-tower Jewel development kickstarting a wave of projects up and down the strip when it was completed in 2020.

Currently under construction and approaching completion is <a href="https://www.apartments.com.au/new-apartments/faro-broadbeach-123-old-burleigh-road-broadbeach-qld-4218">FARO Broadbeach</a> by 5Point and Bottega, 21 large-scale half- and full-floor apartments. 5Point is also behind the recently launched <a href="https://www.apartments.com.au/new-apartments/lumara-108-old-burleigh-road-broadbeach-qld-4218">Lumara</a>, another 37 apartments to add to the pipeline.

Luxury builder GRAYA is progressing construction on <a href="https://www.apartments.com.au/new-apartments/enclave-by-graya-118-old-burleigh-road-broadbeach-qld-4218">Enclave</a>, its first Gold Coast tower, while Polycell remains the most active developer on the street. They are preparing to launch <a href="https://www.apartments.com.au/new-apartments/sandpiper-broadbeach-155-old-burleigh-road-broadbeach-qld-4218">Sandpiper</a>, a 50-storey redevelopment of the former Sandpiper Holiday Resort that will deliver around 200 apartments alongside extensive resident amenity. The group also has another 130-apartment project approved nearby, as does <a href="https://www.apartments.com.au/news/qld/dvb-approved-for-second-broadbeach-apartment-development">Dean Gallagher’s DVB Projects</a>.

Joel Robinson

First look: Old Burleigh Road apartment development wave continues

Sunshine Coast developer Habitat Development Group continues to position itself as one of the region’s largest new apartment developers.

Its latest project is in Maroochydore, where it is currently delivering <a href="https://www.apartments.com.au/new-apartments/the-millwell-2-millwell-road-east-maroochydore-qld-4558">The Millwell</a>. Adjacent to the new 53-hectare Maroochydore City Centre project, Habitat is planning a further 180 apartments on a 3,468 sqm site at <a href="https://www.apartments.com.au/new-apartments/132-136-aerodrome-road-maroochydore-qld-4558">132–136 Aerodrome Road</a>. The site was purchased with approval for a smaller 13-storey, 103-unit building.

Habitat will demolish the two existing retail centres, currently home to the Salvation Army Family Store and Neighbours Aid, and replace them with an 18-storey building featuring the significant rooftop amenities that have become a hallmark of Habitat developments in recent years. The rooftop will include both indoor and outdoor spaces, anchored by an infinity swimming pool.

<img alt="Maroochydore" data-entity-type="file" data-entity-uuid="ad434d07-666b-4614-b33e-530ad6a2d261" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.33%E2%80%AFAM.png?VersionId=7pyLsPWKQuwv0us3_v.9DmbzEc2VZe9Z" />

There will be a mix of one- to four-bedroom apartments.

The Development Assessment Report, submitted to the Sunshine Coast Council, says the proposal&nbsp;is not speculative, but a response to both zoning intent and demonstrated housing need.

“The proposed development represents an appropriate and logical intensification of the site, consistent with the planning framework and the intended urban outcomes for the locality.”

Across the Sunshine Coast, councils are increasingly scrutinising not just height or yield, but whether new projects genuinely align with the long-term structure plans underpinning growth corridors. The&nbsp;ASTP Planning Report&nbsp;reinforces the approach, noting that the project has been shaped around site responsiveness rather than generic typology.

“The development has been designed to respond to the physical constraints and opportunities of the site, while delivering a high-quality residential outcome that integrates with the existing and emerging urban context.”

<img alt="Habitat" data-entity-type="file" data-entity-uuid="3a03fc54-4ca5-4868-88d0-eeced70604e2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-01-05%20at%2010.12.28%E2%80%AFAM.png?VersionId=1pkK3lJrrZjkghTLBReM2zatcas4Nc4B" />

In mid-2025, Habitat, a developer that also builds its own projects, commenced construction on The Millwell, located just over one kilometre from the new proposal. The Millwell will comprise more than 200 apartments across two eight-storey buildings.

Habitat also has two projects on Lake Kawana in Birtinya: <a href="https://www.apartments.com.au/new-apartments/st-clair-birtinya-930-931-waterside-retreat-birtinya-qld-4575">St Clair</a>, a 200-unit, two-building development launched last year and set to welcome buyers this year; and Esperance, a 175-apartment project currently progressing through the development approval process.

First look: Habitat continues to bolster Sunshine Coast apartment pipeline with Maroochydore development plans

John Camilleri, the breeder of legendary racehorse Winx, is set to deliver a landmark two-tower beachfront development that would redefine the Surfers Paradise skyline.

Camilleri, who spent around $100 million acquiring development sites across the Gold Coast in 2025, has lodged plans for two new towers on the dress-circle stretch of Garfield Terrace, just two days before Christmas.

In assembling the site, Camilleri's Celestino Developments has effectively acquired the 71 Garfield project by Iris Capital and AALTO by Weiya Holdings, creating an unrivalled <a href="https://www.apartments.com.au/new-apartments/63-79-garfield-terrace-surfers-paradise-qld-4217">4,000 sqm beachfront holding along Garfield Terrace</a>.

The proposal comprises two residential towers of 55 and 48 storeys, linked by a dramatic skybridge which will home “exclusive VIP and wellness amenities.”

In total, the development would deliver 275 two-, three- and four-bedroom apartments across the two towers, rising above a shared landscaped podium that incorporates a central green space and a beachfront swimming pool stretching more than 90 metres.

<img alt="DBI" data-entity-type="file" data-entity-uuid="097900f3-6bef-4919-b168-b08f2f762876" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.37.58%E2%80%AFAM.png?VersionId=et0SpmcvaPPVrexI_zWi46BVFtZBxAzx" />

Architecture firm DBI, in documents submitted to Gold Coast City Council, said the project at 63–79 Garfield Terrace would “establish a new benchmark for beachfront residential living on the Gold Coast.”

"The project occupies a rare, uninterrupted oceanfront site and has been shaped by a design philosophy that merges architectural elegance with environmental responsiveness and a carefully curated lifestyle experience. Together, the 48-storey North Tower and 55-storey South Tower form a distinctive twin-tower composition whose dynamic silhouette will make a significant contribution to the Surfers Paradise skyline."

DBI said the architectural language draws inspiration from the fluidity and movement of the coastal landscape.

"Each tower is defined by organic, curving forms and continuous balcony ribbons that wrap the buildings, providing deep shading, enhancing environmental performance, and reinforcing the rhythmic, sculptural expression of the façade. These balcony forms also reduce the apparent mass of the towers while maintaining strong visual continuity from podium to summit. Sculpted reflective downturns run along the western spine of both towers, shifting and lifting as they extend upwards to frame service zones and open eastward to maximise ocean views."

<img alt="Garfield" data-entity-type="file" data-entity-uuid="a2a00ce3-a0e9-45d6-b4b5-b7baed592ac5" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.53.40%E2%80%AFAM.png?VersionId=DnruWV1dhLrtXOeElwekyd7vPq2gw55t" />

The project’s most striking feature is the skybridge at level 45, which will house executive lounges, formal dining spaces, wellness facilities and panoramic ocean-facing views.

“The skybridge enhances the identity of the development, promotes social interaction, and delivers a lifestyle experience not found elsewhere on the Gold Coast,” DBI added.

The podium will host an extensive suite of recreational amenities, including resident lounges, private dining rooms, a large open green lawn, and the signature 90-metre pool stretching along the beachfront. The pool is divided into lap, lounge and children’s zones.

The southern end of the podium will accommodate additional wellness facilities, including a gymnasium, plunge pools, treatment rooms and a dedicated yoga lawn.

<img alt="Garfield" data-entity-type="file" data-entity-uuid="ee1b4f25-231f-4804-83b1-a573a1481962" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-30%20at%209.55.47%E2%80%AFAM.png?VersionId=zObzIA3D5w7EwqPsHjr2pKrA4vbB28zL" />

There will be 127 apartments in the North Tower and 148 in the South Tower, including multiple penthouses, while the Enderley Avenue and Oceanway frontages will be activated by a series of food and beverage tenancies.

Camilleri emerged as the most active site acquirer on the Gold Coast in 2025. He spent just over $30 million acquiring Pacific Point, a 10-level Surfers Paradise apartment block and an adjoining three-level duplex, from fellow racing identity and Aquis billionaire Tony Fung. Plans are now underway for a 93-apartment, 40-storey tower on the 1,682 sqm site.

He also paid $53.65 million for the 1,500 sqm Garfield Terrace site previously marketed as AALTO by Weiya Holdings, before acquiring the adjoining parcel from hotel billionaire Sam Arnaout’s Iris Capital, the developer behind V&amp;A Broadbeach.

First look exclusive: Billionaire Winx breeder’s bold two-tower Surfers Paradise play with 45th-storey skybridge

Property Forecast 2020

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EXPERT OBSERVER
Most talking heads, when asked to predict the coming year in real estate, look at the recent past and extrapolate that to the near future. So most commentators have been predicting the recent past. And therefore 2020 is all about Sydney and Melbourne.
More thoughtful forecasters have suggested the growth spurt in the biggest cities in late 2019 will not translate into another price boom in 2020. Some, including Westpac, expect relatively moderate growth in Melbourne and Sydney, with Brisbane leading on price escalation.
Very few ever discuss regional markets – which is unfortunate, because that’s where investors will find some of the best options for 2020, if it occurs to them to look beyond the big cities.
In NSW, I would suggest the best possibilities will be found outside of Sydney. And those who undertake research beyond absorbing headlines and sound bites will be surprised to find the best performers recently have been regional.
When Sydney was going through its post-boom correction in 2018 and the first half of 2019, regional areas of NSW were a notable contrast. Locations throughout the state continued to show growth in sales activity and prices.
The regions outside of Sydney have many examples of win-win-win situation provided by regional centres: affordable buy-in prices, much better rental yields than the big cities and good prospects for steady growth.
Many of these have long-term growth rates (the average annual increase in median house prices over 10 years) of 6% , 7% or more.
Regional centres with those kinds of strong long-term growth rates include Orange, Dubbo, Goulburn, Bowral, Mitttagong, Wyong, Terrigal and many others.
Goulburn near Canberra and Wyong on the Central Coast both have long-term capital growth rates of 7% per year while Bowral in the Southern Highlands averages close to 8% per year, which is competitive with anywhere in Australia.
Many locations throughout Regional NSW have recorded double-digit growth in their median house prices over the past 12 months.
These growth markets are spread widely across the state. Kingscliff in the north near the Queensland border, has risen 12% in the past year and now has a median house price above $1 million. Nearby Tweed Heads has grown its median house price 11% to $790,000.
In the far south of the state, Lake Albert (which is part of the Wagga Wagga market) has risen 13% to $400,000. Another sector of the Wagga market, Tatton, has grown 14% to $556,000, while central Wagga Wagga increased 9%.
Suffolk Park, which is part of the high-profile Byron Bay market, has increased 12% to reach $1.17 million.
Jindabyne in the Snowy River region has delivered a 14% rise in its median house price to reach $715,000, while Gulgong in the Mid Western Region is up 14% to $330,000. Gloucester in the Mid Coast region has increased 17% to $315,000.
Other locations in Regional NSW to record annual growth in the 7% to 10% range include Bathurst, Broken Hill, Cooma, Cootamundra, Cowra, Griffith, Maclean, Merimbula, Mudgee, Singleton, Tumut and Kempsey.
This strong price performance has occurred at a time when the Sydney market has generally been struggling for growth (prior to the revival in prices which occurred in latter part of 2019).
It provides compelling evidence that investors can find good investments with appealing prospects for long-term growth in regional areas.
TERRY RYDER is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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terryryder-YECXbqmri2

Look beyond Sydney for NSW real estate in 2020: Hotspotting's Terry Ryder

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EXPERT OBSERVER
Canberra is set for its strongest growth market in years, following a recent surge in demand in the housing markets across the national capital.
Our latest analysis of sales activity and prices shows that the number of suburbs with rising demand is the highest in the five years we have been conducting our quarterly surveys.
Our two previous reports both found 18 suburbs with rising demand, but this new survey has identified 32 growth suburbs. The previous best was the 26 growth suburbs in the Autumn 2019 survey.
Our research also reveals good price performance, with two-thirds of Canberra suburbs delivering growth in their median house prices in the past 12months. Of the 41 Canberra suburbs with growing house prices, 24 have increased more than 5% in annual terms.
This reinforces a point I regularly make: that the generalised price data published in mainstream media (one figure to describe an entire city market) often fails to tell the full story. In the case of Canberra, most suburbs are achieving price growth well above the generalised figures quoted by research firms (mostly 3-4% for Canberra in the past year).
The overall outcome is a departure from the usual status of the national capital’s real estate market, which is one of steady, consistent performance. The surge in the number of locations where sales activity is rising suggests 2020 will be a year of above-average price performance.
Canberra’s property market continues to be underpinned by a strong ACT economy. The ACT ranked fourth among the states and territories in the State of the States report published by CommSec in January 2020, ahead of Queensland, South Australia and Western Australia – and was ranked No.1 on housing finance and employment, and No.2 on equipment investment.
The ACT consistently has the highest average incomes and the lowest unemployment rate in the nation.
Three Canberra precincts stand out for the number of suburbs with rising sales activity: Belconnen (eight growth suburbs), Gungahlin (six) and Tuggeranong (seven). The Inner North precinct also features prominently, with four suburbs with upwardly mobile markets.
With Belconnen, Gungahlin and the Inner North featuring strongly, it reinforces (yet again) that the strongest part of the Canberra market is in the north of the city.
The Belconnen District is a real standout, with eight growth suburbs and 10 others with steady sales performance. Rising markets include Dunlop, Florey, Giralang, Higgins, Holt and Melba.
It also has several of the suburbs where median house prices have grown more than 5% in the past 12 months, including Melba (11%), Macquarie (8%), Macgregor (7%) and Latham (8%).
Leading Gungahlin District suburbs for price growth include Crace (up 10%), while the suburb of Gungahlin is one of the leaders among Canberra’s apartment markets (median unit price up 14%). In the Inner North precinct, the suburb of O’Connor was Canberra’s No.1 suburb for annual price growth (median house price up 20% to $1.26 million).
While many of the top performing precincts are in the northern part of Canberra, the Tuggeranong District in the far south is an emerging market worth tracking.
With seven growth suburbs and seven others with consistent sales activity, it’s close behind the Belconnen District in terms of buyer demand. The rising markets include Banks, Bonython, Conder, Fadden, Kambah, Monash and Theodore.
Numerous suburbs in the Tuggeranong District have had solid price growth in the past 12 months, including Calwell (5%), Chishom (6%), Conder (8%), Fadden (7%), Kambah (7%) and Theodore (7%).
TERRY RYDER is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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Canberra real estate set for its strongest growth in years: Hotspotting's Terry Ryder

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EXPERT OBSERVER
A Shakespearean character suggested (Henry VI, Part 2, Act IV, Scene 2), as a great way to improve the country: “First thing we do: let’s kill all the lawyers.”
While the idea has merit in 21st Century Australia, I think a better strategy would be to get rid of all the economists. A good method of dispatch would be to push them off a cliff, similar to the September cliff they’re all predicting as the next catastrophe to afflict Australia’s economy.
If there’s a more pointless and over-rated profession anywhere in society, I don’t know about it. These people continue to get paid, and they continue to feature daily in major media with their incessant “warnings”, despite their staggering ability to be wrong with most of their forecasts.
For many of our chattering economists, the meaning of life is their picture in the paper or a short grab on the evening television news. Some exhibit a need for daily exposure. How best to achieve that? Say something sensationally negative – the truth is optional and you can be sure that no journalist will ever check on your track record of getting things right, so credibility is unimportant. Just describing yourself as an economist is enough.
So when the impacts of Covid-19 first became apparent in February and March, the nation’s gaggle of chattering economists began predicting a collapse in real estate prices.
The people I call “the usual suspects”, the economists and independent ranters who always talk down property, began tipping house prices would fall at least 20% and some suggested even 30% or 40%.
Journalists, being the shallow creatures that they are, lapped it all up and rushed to print with sensationally negative headlines, without applying any scrutiny to the forecasters and their motives.
Four months later, some of those forecasters are retracting their earlier predictions. Shane Oliver of AMP Capital, always eager to be a real estate pessimist, recently recanted his 20% decline tip and suggested a more moderate outcome.
The boffins at UBS, who seldom see anything positive in real estate, recently admitted they’d got in wrong and that housing markets were holding up a lot better than they thought.
The latest data from both CoreLogic and SQM Research indicates that most of the markets across Australia still have house prices higher than they were at the start of 2020, in defiance of those dire forecasts.
But now the diehard doomsdayers have found a new catastrophe to obsess over: the September cliff.
The theory is that come the end of September, the banks and the federal government will flick a switch and stop supporting Australia.
The trigger here is that JobKeeper is scheduled to run until then and the banks have put a similar deadline on their extension of mortgage payment holidays to borrowers. So, when the government and banks suddenly stop caring about the nation, and themselves, and switch off their support, everything will fall off a cliff. Theoretically.
It’s a convenient scenario for pessimistic economists (is there any other type?) and journalists with a negative mindset (there is definitely no other type).
But there are serious flaws in the theory and I feel confident in suggesting that is simply won’t happen. There will be no cliff for prices to fall off at the end of September.
Here’s what’s wrong with the “September cliff” theory:-
· It assumes that everything depends on JobKeeper and mortgage holidays. It doesn’t – there’s a whole lot more in the mix.
· It assumes the Federal Government will suddenly stop caring about the national economy and simply switch off support in September. They won’t.
· It assumes banks will shoot themselves in the foot by abandoning their customers. They haven’t come this far in supporting their borrower customers to abandon them later.
· It assumes that nothing will change with business and employment between now and 30 September. But a lot is changing already, with restrictions easing, businesses re-opening and jobs re-appearing.
· It overlooks the extraordinary level of stimulus measures in play. Multiple booster measures from all levels of government have been activated and there is more to come. A $72 billion spend on infrastructure provides a prime example of the measures that will generate economic activity and jobs. The $25,000 grant for people to build homes is generating activity that has surpassed all expectations and the economic multiplier effect of residential construction is the second biggest of any industry sector in Australia.
· It overlooks the impact of the ongoing easing of restrictions. Before we get to the doomsday deadline, state borders will be open (most are already, notwithstanding the Victoria situation) and tourism will be pumping again. Australia are revelling in the new freedoms and this will help revive economies. The latest ABS data shows that retail spending is rising again, with a 17% increase in May.
· It overlooks the news that people who sought mortgage holidays are rapidly moving back to making mortgage payments. ANZ said in mid-June that a third of the customers who sought a holiday are already back making payments. The numbers of borrowers resuming payments is growing every week.
· It ignores the extraordinary resilience of real estate markets, which have a history of not only resisting economic downturns but leading national economic recovery. Real estate markets revel in defying the most dire forecasts of the chattering economists.
· It forgets the natural boost to real estate markets from the Spring selling season.
The “September cliff” theory will be forgotten even before we get to September. The people who made those forecasts will have forgotten they made them. For most of the talking heads, it’s nothing more than a soundbite, a publicity opportunity. Some of them don’t even believe their public statements.
It will join an already-long list of predictions that have been proven false since February. Every statistic that has been published to date – whether it be property prices, auction clearances rates, vacancy rates, retail spending, unemployment figures and GDP numbers – has been less dramatic than the media forecasts.
It’s time we stopped listening to the attention-seeking economists whose only objective is to gain media profile by feeding the 24-hour news cycle, with little regard to the consequences.
Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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The 'September Cliff' is just the latest property economic nonsense: Hotspotting's Terry Ryder

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EXPERT OBSERVER
The key message for property investors right now is that there are many growth markets across Australia.
There’s a tendency in mainstream media to extrapolate the situations in Sydney and Melbourne to the whole nation. If the big cities are in decline, then Australian real estate is in decline, according to news media.
This is seldom true – and it’s certainly not the case right now. Some of our smaller capital cities are pumping strongly and, in particular, regional Australia has many growth markets.
Last week I made this comment: “Regional Queensland has achieved something that few jurisdictions across Australia have managed: it has maintained its previous high levels of well-performing markets in defiance of Covid-19.”
I wrote that I rated the Sunshine Coast one of the strongest economic and real estate stories in the nation and that it continues to produce solid results in its property markets.
The anecdotal evidence from people at the coalface of the Sunshine Coast property industry is that sales are happening, vacancies remain low and there’s no evidence of values falling.
The latest data on prices and vacancy rates confirms that – with evidence of notable growth pockets.
Most of the postcodes across the Sunshine Coast region, including Noosa (which is a separate local government area), have vacancy rates between 1% and 2%. While some of the capital city CBDs and tourism-dominated locations like Surfers Paradise have had big blowouts in their vacancies, the Sunshine Coast has resisted this trend.
Although tourism is an important industry to the Sunshine Coast, its economy is insulated by the ongoing massive spend on infrastructure, including the evolving medical precinct, the new CBD now under construction, the billion-dollar highway improvements, the upgrade of the local airport to international status and the subsea internet cable link to Asia – among other projects.
And this is bolstering the local property market.
The top end of the market in particular has been boosted, thanks in part of the influx of well-paid medical specialists working in the new medical precinct, based around the $2 billion university hospital.
The two most expensive suburbs in the region, Sunshine Beach and Minyama, have both experienced notable uplift in prices recently. The median house price for Sunshine Beach, just outside Noosa, has risen 16% in the latest quarter and 27% in annual terms, to reach $1.8 million. Minyama is up 7% in the most recent quarter and 23% annually – and typical houses are now above $1.1 million.
The median house price for Noosa Heads has risen 8% in the past year, including 1.4% in the most recent quarter.
Other locations throughout the Sunshine Coast region, including Mooloolaba, Maroochydore, Coolum and Pelican Waters, have recorded more moderate growth, but nevertheless have achieved price uplift in both the past 12 months and the most recent quarter – and a time when the big cities are feeling the negative impacts of Covid-19.
Keep that in mind the next time you hear one of our chattering economists telling us that “Australian property prices” are falling.
The Sunshine Coast is a standout example among many thriving regional markets.
Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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Sunshine Coast remains a standout market during COVID-19: Hotspotting's Terry Ryder

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EXPERT OBSERVER
Three major housing-related measures were highlighted in Treasurer Frydenberg’s budget address on the 6th of October: an extension of the First Home Loan Deposit Scheme (FHLDS), additional low-cost financing for affordable housing through NHFIC, and additional funding for the Indigenous Home Ownership Program.
Other measures detailed in the budget papers included a proposed capital gains exemption for granny flats for eligible persons from July next year, and a continuation of funding for state social housing services.
The papers also note that the expansion of the first home loan deposit scheme will be complemented by announced changes to ease credit regulations, which would boost credit availability.
Funnelling new demand into new property
First home owners have previously been a target of demand-side housing stimulus during economic downturns. Currently, Australia may be in a demographic ‘sweet spot’ for first home buyer demand.
The relatively large millennial generation is now estimated to be aged around 26 to 37 years old. According to ABS data, this puts millennials into the most common first home buyer age groups.
Alongside the typical barriers to entry for hopeful first home buyers, this may be one of the reasons the first home loan deposit scheme has been so well-subscribed since its introduction in January this year.
The extension to the FHLDS will see an additional 10,000 places available between the 6th of October and the 30th of June 2021, adding to the 20,000 places made available since the scheme started in January 2020.
However, these additional places are for construction or purchase of newly-built homes. The price thresholds have also been increased for newly built homes, which would potentially further incentivise a pivot away from the established housing market. The change in purchasing thresholds by region are summarised below.
<img src="https://www.urban.com.au/images/2020/10/8/Eliza%20Owen%20Budget.PNG" alt="">
It will be interesting to see if these conditions create as rapid an uptake as the places for established housing. In 2008, the temporary boost to the first home owner grant provided added incentives for new builds, yet 85% of its uptake was directed at established housing₁. However, incentives limited to new home builds could still help soften the blow to dwelling construction through COVID-19.
Since the introduction of the HomeBuilder scheme, new home sales have been boosted across Western Australia, South Australia and Queensland. CoreLogic data shows valuations ordered for the purpose of construction loans have seen a boost above pre-COVID levels since the introduction of the HomeBuilder scheme.
In terms of the impact these schemes would have on the established market, the increased incentive for new home builds could reduce established home prices if demand is diverted from this sector. However, the price of newly built homes may rise up to the threshold cut-off. It is worth noting that despite the rhetoric employed around the extension of the scheme supporting the construction sector, the budget papers highlight that this will not be enough to offset a decline in new dwelling investment.
At August, dwelling approvals for units had fallen -18.4% year-on-year. The budget papers forecast an 11% decline in dwelling investment over 2020-21, before rising 7% in 2021-22. Indirect Impacts on Housing With much of this year’s budget focused on the labour market, infrastructure construction and tax cuts, one could be forgiven for thinking housing reform and stimulus took a back seat in this year’s budget. However, some of the budget highlights will also have implications for housing.
These include: 
<ol>
<li>The JobMaker hiring credit and JobTrainer fund. These initiatives may help re-absorption of young people into the labour force following the initial pandemic-induced shock. This reflects the disproportionate job loss of young people throughout COVID-19, where around 40% of job losses between March and August were among those aged 24 and under. Job loss among younger Australians may present less direct risk to the housing market due to their lower likelihood of holding mortgage debt. However, support for youth employment may create more buoyancy in the rental market, where inner-city markets in particular have seen rental income declines since the onset of COVID-19. </li>
<li>A boost to infrastructure spending. Depending on the nature of infrastructure projects, surrounding housing markets could see a rise or fall in demand. Much of this year’s infrastructure allocation is in roadworks, which can have positive impacts on nearby housing by increasing accessibility to an area, but devalue properties with exposure to high traffic intensity, construction and noise pollution.</li>
</ol>
Support for regional Australia
The budget outlines $350 million in support for regional tourism to attract domestic visitation, and seeks to strengthen regional industry through concessional loans to farmers and access for exporters to global supply chains. This may further generate interest in regional dwelling markets, beyond what has resulted from COVID-19 and the normalisation of remote work. However, it worth noting this budget allocated little to fossil fuel alternatives, with climate change presenting on ongoing challenge to the liveability of some regional markets.
 Beyond the Budget
Further to the budget, there have been many institutional interventions which have likely played a role in stabilising housing market conditions since COVID-19.
These include, but are not limited to: 
<ul>
<li>A comprehensive monetary easing package from the RBA, which saw a reduction of the cash rate to 0.25%, bond yield targeting and the establishment of a term funding facility which has been extended to June next year; </li>
<li>Early access to $10,000 of superannuation in 2019/20 and 2020/21; </li>
<li>The Australian Prudential Regulation Authority (APRA) changed capital ratio expectations for the banking sector in March, facilitated home loan deferrals and later extended the availability of deferrals to March 2021;</li>
<li>The availability of JobKeeper and a boost to JobSeeker, which were made available from March, and extended to March 2021, albeit in a tapered form; and, </li>
<li>A mix of state-based incentives for home buyers, such as the Building Bonus grant in WA, the Home Improvement Scheme in the NT, and temporary stamp duty discounts in NSW.</li>
</ul>
These events remind us that housing does not operate in a vacuum. Many different factors are currently supporting housing demand. This has created a turn in housing market sentiment, which is seeing prices rise across the small capital cities, and a softening of price declines across Sydney and Melbourne.
Looking forward, there may still be more tailwinds to come. The RBA left the cash rate on hold in October ahead of the budget, but hinted in the final sentence of the statement on the decision that “additional monetary easing” was possible.
A recent address by Deputy Governor Guy Debelle carried the same messaging. Lower interest rates, together with easier access to housing credit could create further housing market demand, given prices have historically increased against a lower cost of debt and greater availability of housing finance options.
ELIZA OWEN is the Head of Research Australia at CoreLogic
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What does the budget mean for the housing market? CoreLogic's Eliza Owen

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EXPERT OBSERVER
The past few weeks have shown signs of a positive turn in the housing market. There has been a strong rebound in consumer sentiment, and outside of Melbourne, auction clearance rates and volumes are rising.
More recently, CoreLogic listings data has shown that in some cities, vendors are also more willing to test the market by listing their property for sale.
Across the capital cities, ‘new’ listings, which are properties freshly added to the market over a period, increased 0.7% in the four weeks to the 20th of September.
This was driven by a particularly strong jump in new listings across Sydney, up by 382 listings over the period, followed by Perth, where new listings increased by 286.
The combined capital cities chart shows a subdued start to the spring selling season, which is now gradually gathering pace.
However, new listings volumes are still down 35% on the previous four-year average.
The capital city breakdown reveals Sydney and Perth as leading the new listings volume, while new listings across Melbourne fell by 935 listings.
While this is a large drop in new listings, the decline has eased from the previous four week period, where the count of new listings fell by 2,976 in the four weeks to August 23rd.
All but two of the capital cities recorded an increase in listings. This signifies that vendors may be more confident in selling their property.
The exceptions were Melbourne, where transaction activity is understandably constrained by stage 4 restrictions, and Darwin, where listing numbers are generally lower and more volatile CoreLogic valuation data suggests that there is so far little indication that these increases in listings may be a result of distressed sales.
Potential in the Perth market
While transaction activity is gradually improving across the country, Perth stands out as a market primed for recovery.
For the four weeks ending 20th of September, Perth and regional WA were the only dwelling markets where new listings volumes exceeded the numbers in the equivalent four week period of the previous year.
Listings is not the only transaction data suggesting more confidence in the Perth dwelling market. This is shown in the chart below, which capered capital city sales numbers in August, with a 6-month average of pre-COVID sales volumes.
Perth is the only capital city where sales numbers where above the pre-COVID average. These higher levels of transaction activity are also showing up in mild value increases across the Perth dwelling market. In the 28- days to September 23rd, the Perth home value index increased 0.6%
. While a positive turn in Perth dwellings may be surprising during a recession, the WA economy has been supported by a 4.8% increase in mining investment over the year.
ABS payroll data suggests since the start of the pandemic, payroll jobs across WA fell less than 1%, compared with national declines of 4.5%.
Perth dwelling values are also relatively affordable, sitting 22.2% below the record dwelling value in June 2014, and there is a strong mix of state and federal first home buyer incentives in place, which may be encouraging demand as well.
A consistent upswing in Perth property values will depend on the resilience of the market through the end of mortgage repayment deferrals, whether there are further reductions in the cash rate, and how successfully COVID-19 can be contained.
ELIZA OWEN is the Head of Research Australia at CoreLogic
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Surprising data shows Perth is bouncing back: CoreLogic's Eliza Owen

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EXPERT OBSERVER
Anyone who has been paying attention will know that there are plenty of solid to strong property markets around Australia.
The collapse in prices that attention-seeking economists forecast in March and regularly since then simply hasn’t happened. Of the 15 major market jurisdictions in Australia (eight capital cities and seven state regional markets), 11 have house prices higher than at the start of the year.
First-home buyers, boosted by government assistance, are very busy and other types of owner-occupiers are active also. Investors are starting to get off the fence and follow the trends that are pointing to growth in key areas.
So where are those prime targets, which currently have the ingredients for growth? I recently explored that subject with buyers’ agent Philip Robison as a guest on his podcast series. Under the topic heading of “Game-changing trends supercharging markets,” we discussed the key trends currently driving markets:
1. The cities with the virus under control have higher confidence, more activity, lower vacancies and busier markets.
2. The Exodus to Affordable Lifestyle, well under way before the pandemic, has been exacerbated by the virus shutdown periods.
3. First-home buyers are the most active cohort in the market at present, driven by high levels of govt assistance and low interest rates.
4. Vacancies are very low in many markets, which means rising rents - and history shows that prices tend to follow.
So which locations are positively impacted by these key trends?
1. Adelaide, Perth, Brisbane, Darwin, Canberra and Hobart all have few pandemic issues and they have busy property markets. Adelaide has one of the most competitive markets in the nation, Perth has been a huge increase in sales activity in recent months, Brisbane markets are rising steadily and Canberra is a standout because it has delivered price growth every month since March.
2. The Exodus to Affordable Lifestyle is mostly about regional Australia: the rising jurisdictions include regional Victoria near Melbourne, Regional NSW near Sydney and Regional Qld near Brisbane. Brisbane itself is also getting momentum from the Exodus trend, particularly from people vacating Sydney and looking for a city less congested and more affordable.
3. First-home buyers are busy in the outer-ring suburbs of most capital cities, but particularly in places like Brisbane, Perth and Adelaide. They’re also targeting regional cities and towns, especially those within striking distance of the big cities - so Regional Victoria near Melbourne, Regional NSW near Sydney, Regional Qld near Brisbane.
4. Vacancies are particularly low in Adelaide, Perth, Brisbane, Darwin, Canberra and Hobart, and in most key regional markets across Australia. It’s not uncommon to find locations where vacancies are below 1%. Agencies across the country are crying out for rental listings.
So, where does that point us? Well, some locations are being boosted by all of those four trends.
Therefore, the locations benefiting most from all of these dominant trends are ...
<ul>
<li>Adelaide,</li>
<li>Brisbane,</li>
<li>Regional Victoria near Melbourne,</li>
<li>Regional NSW near Sydney,</li>
<li>Regional Qld near Brisbane.</li>
</ul>
They’re not the only markets that are pumping strongly, but they are the standouts.
Terry Ryder is the founder of hotspotting.com.au ryder@hotspotting.com.au twitter.com/hotspotting
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