<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360965]

“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360981]

Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360966]

Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

&nbsp;

[smartcode_project:default project_id=149670 project_image_fid=360969]

Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

[smartcode_project_cta:default project_id=149670]

Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

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

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

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

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

Property Listings

<html><body>
There are just 800 listings remaining on the Purplebricks website.
It was at around 1000 a fortnight ago, as vendors depart the UK-based disruptor for local estate agents.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/7/29/narre%20warren%20east.jpg" alt="">
The <a href="https://www.purplebricks.com.au/search/property-for-sale#?q&amp;location=&amp;page=1&amp;searchType=ForSale&amp;sortBy=2" target="_blank">remaining 800 offerings</a> range from around $2.9 million to $3.2 million at 30 Boundary Road, Narre Warren East (pictured above), a four bedroom, three bathroom house set on 6.47 hectares to $30,000 for Lot 30 Melvin Terrace, Pinery.
The 1012 square metre Pinery holding has been unsuccessfully offered to market multiple times over the past six years, with the asking price reaching $133,270 from 2014 - 2016.
According to their website, around 85 agents are still on deck.
In early May, Purplebricks Australia announced its intention to exit the Australian market.
Despite the newly-installed CEO Neil Tavender and Kenny Bruce having overhauled the pricing model, so that half the fee was paid upfront and half on completion of the sale, Purplebricks have been forced to abandon the Australian market.
The pressure on the Australian business was most clearly exposed when it reported an $18 million interim loss for the six months to October last year.
Vic Darvey, the Purplebricks Group CEO said in May that after much consideration it had "made the difficult decision to close the Australian business".
"We’ve been operating here for two and half years and, unfortunately, we have been unable to make the progress in the Australian market that we’ve wanted, despite the tireless efforts of our employees."
The Australian branch announced that they would take no further listings in Australia, but intended to finalise all existing agreements.
They announced their decision just a week after UBS said the company was<a href="/news/purplebricks-not-likely-to-make-profit-in-australia-until-2022-ubs"> not likely to make money in Australia</a> until 2022.
In the month prior to the shutdown it was forecast that Purplebricks would potentially have to close its Australian operations <a href="/news/purplebricks-australian-agency-may-need-to-be-abandoned-to-save-uk-mothership">to save the UK mothership</a>.
Michael Bruce, the group's founder and chief executive officer stepped down immediately following the announcement with Vic Darvey, previously Purplebricks’ Chief Operating Officer, being appointed to the role of Chief Executive Officer and to the Board of Purplebricks.
While Purplebricks has sold more than 5000 homes since launching in Australia in September 2016, the company was spending about 84c in advertising to generate a dollar of revenue.
The Australian Financial Review has regularly revealed an exodus of estate agents along with allegations of a "toxic culture" within the company.
Over the weekend the London press reported Purplebricks is due to post losses of £51 million.
The Sunday Telegraph advised that the loss, for the 12 months to the end of April, will be unveiled when Purplebricks reports its results on Wednesday.
The ‘underlying pre-tax’ loss compares with £26m for the year before.
According to the Telegraph, the near-double loss comes after a “failed assault” on the Australian market and troubles in its American business, which has been under review.
However, says the newspaper, the company is “theoretically profitable” in the UK.
The founders, brothers Michael and Kenny Bruce, have both left the business.
Michael Bruce, who was also global chief executive, has been replaced by Vic Darvey, formerly managing director of Money supermarket.
The Bruces have sold their shares in Purplebricks to German publishing giant Axel Springer, now Purplebricks’ largest investor with a 27% holding.
Purplebricks shares closed on Friday at 99p, below the £1 launch price back in 2015.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Purplebricks Australian property listings shrink to just 800 homes for sale 

<html><body>
The REA Group has lifted third-quarter revenue seven per cent to $198.6 million.
It noted income from its Australian real estate classifieds business rose despite a drop in listings.
REA warned that the market conditions are "not expected to improve in the short term", with fourth-quarter revenue growth slowing as listing volumes given the distractions of the federal election as well as the Easter and Anzac Day long weekends in April.
The two holiday weekends led to a 22 per cent decline in national listings in April with Sydney down 39 per cent and Melbourne down 35 per cent, it said in its quarterly earnings update filed with the ASX on Friday morning.
The drop was described as "exaggerated."
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/5/10/REA-ASX.jpg" alt="">
REA, which is majority-owned by News Corp, saw national listings in the three months to December 31 decline nine per cent on the previous quarter, with Sydney dropping 18 percent and Melbourne falling 12 percent.
"It's almost a decade since we've seen market conditions like these, especially in Sydney where the decline has been the most pronounced," REA chief executive Owen Wilson said in the statement.
"With the banking royal commission now behind us and the federal election taking place next weekend, we expect less uncertainty surrounding the property market as we enter the new financial year."
REA had a record 84 million visits in March, which they calculated as three times greater than Domain.
</body></html>

REA Group sees listings decline especially in Sydney and Melbourne

<html><body>
Overall listings in Australia are down 3% over the past six months with Sydney driving the overall decline, according to the latest HY2019 financial report of the digital website, Realestate.com.au. 
<div class="page" title="Page 4">
<div class="layoutArea">
<div class="column">
In January 2019 overall residential listings were down 11% with Sydney down 19% and Melbourne down 13%. 
The update to shareholders advised January is seasonally a low listings month therefore movements are not typically representative of the longer term. 
As previously advised, the rate of revenue growt.h is expected to exceed the rate of cost growth for both the second half and the full year, however, this will not be the case in the third quarter, it foreshadowed
</div>
</div>
</div>
The report noted, that in the second half of FY19 listings may be impacted by federal and state elections.
Despite "unfavourable market conditions" REA profits were up 16% in Australia and 15% overall.
REA Group shares also had strong outcomes in HY19 with earnings per share were up 20%.
<img src="https://www.urban.com.au/images/2019/2/8/REA%20GROUP.JPG" alt="">
The report also referenced ongoing declines in dwelling commencements.
REA Group reported monthly visits to realestate.com.au rose to 73.4 million, meaning it has nearly tripled views of its nearest competitor, Domain.
The new REA Group CEO, Owen Wilson said it was "an exceptional start to the year."
<div class="page" title="Page 2">
<div class="layoutArea">
<div class="column">
In Australia, where revenue grew 15% to $443.2m for the half, the results were driven by an increase in revenue from the residential business of 16% to $302m and the inclusion of the Hometrack business.
"The result was delivered in unfavourable market conditions with national listings decreasing 3% (including listing declines of 10% in Sydney and 1% in Melbourne over the half). 
The revenue growth reflected the price changes which took effect from 1 July 2018.
The commercial and developer businesses achieved 10% revenue growth despite the continued decline in new project commencements, driven by an increase in project profile duration.
Tighter lending conditions and the uncertainty from the Financial Services Royal Commission on broker recruitment resulted in flat underlying revenue growth in its financial services business.
"These conditions are likely to continue for the remainder of the financial year further reducing settlement volumes and impacting revenue growth in the second half," Wilson said.
<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Ryan O’Hara steps down from the REA Group Board, having been appointed to the board as a nominee of majority shareholder News Corp Australia in 2017.
The former CEO Tracey Fellows will remain on the REA board representing News Corp.
REA shares were down 3.95% this morning to $74.86.
</div>
</div>
</div>
</div>
</div>
</div>
</body></html>

Real estate listings down 3% led by Sydney: REA Group

<html><body>
National residential listings only declined marginally by 0.03% in January 2019 to 328,089 from 328,203 in December 2018, according to figures released by SQM Research.
The figures show both Sydney and Melbourne were down 2.3%, whilst Canberra dropped 2%. 
However, all other capital cities had marginal increases in residential listings for January. Hobart recorded the largest increase at 1.4%.
Seasonally it is normal for large listing declines to be recorded in January as the property market goes into hibernation for the holiday period.
So SQM Research's Louis Christopher regards the minimal declines as a weak result for the market.
Compared to a year ago, national listings rose 8%, with Sydney, Melbourne and Canberra’s year-on-year listings increasing the most - Melbourne up 42.3%, Canberra 24.6% and Sydney 22.3%.
Year-on-year results for Hobart shows a yearly decline of 1.9%, with residential property listings dropping from 2,362 in January 2018 to 2,318 in January 2019. Darwin also experienced yearly declines of sale listings of 0.6%.
Louis Christopher, Managing Director of SQM Research said, “listings in January recorded a very minor decrease, with some cities actually recording increases."
"This is abnormal and concerning. It implies that vendors had a terrible spring selling season with most still trying to move their properties in January."
"Many have not been able to sell. We are now expecting a surge in listings over February,” he added.
<img src="https://www.urban.com.au/images/2019/2/5/SQM%20chart%201.JPG" alt="">
(Source: SQM Research)
SQM also found that capital city asking prices for units and houses declined by 0.4% and 2.2% respectively, for the month to 5 February 2019.
Unit asking prices are now $572,800 and houses $915,900.
The largest monthly decline was in Sydney, where house asking prices declined by 1.7% but did manage a modest 0.3% increase in house prices.
Hobart posted increases in both unit and house asking prices over the month, 1.7% and 0.1% respectively.
However, both unit and house asking prices declined in Brisbane and Melbourne over the month.
Darwin experienced a notable 5.5% increase in unit prices.
Year-on-year capital city asking prices also experienced declines of 2.6% for units and 6.2% for houses.
Year-on-year Hobart continued to show the strongest growth for both houses and units with a 4.0% increase in houses and 7.0% for units.
Canberra also experienced yearly growth with 2.7% increase in houses and 3.8% increase in units.
<img src="https://www.urban.com.au/images/2019/2/5/SQM%20Chart%202.JPG" alt="">
</body></html>

Both national property listings and capital city asking prices declined in January: SQM

<html><body>
EXPERT OBSERVER
Over the three months to October 2018, more than three quarters (75.4%) of properties that sold transacted for less than their original listed price.
By comparison, over the same period, 7.0% of properties sold for their originally listed price with the remaining 17.6% selling for more than the originally listed price.
Over the past decade, even in periods where dwelling value growth was quite strong, the majority of properties sold nationally continued to sell for less than the original list price, highlighting that even during the boom times vendors will need to be flexible on their price expectations and buyers will seek out room to negotiate.
Since the middle of 2015, which is prior to value growth starting to slow but at a time where credit availability was tightening and transaction volumes were starting to fall, the share of properties selling for less than the original list price has been trending higher.
Geographically the rising trend of a greater share of properties selling with a discount is being driven by the Sydney and Melbourne markets where buyers have endured a long period of low advertised stock levels, rapidly rising prices and intense FOMO (fear of missing out).
<img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC.JPG" alt="">
As housing market conditions have weakened, buyers have more stock to choose from and far less urgency.
They are gaining more leverage, negotiating harder and a growing proportion of vendors are selling at prices lower than their original advertised price.
Outside of Sydney and Melbourne the trends are quite different, with the proportion of properties selling below the original list price holding reasonably firm.
Hobart, where housing market conditions have been strong relative to the other cities, is the exception, with an ongoing reduction in the proportion of properties selling below the original list price.
Across the combined capital cities, 73.6% of properties sold for less than list price over the past 3 months compared to 21.5% for more than list price.
Between 2013 and 2015 value growth was particularly strong and at that time a relatively high proportion of properties were selling above their list price.
It’s a very different story across the combined regional markets over recent years with very few properties selling above the original list price.
At its peak, 18.1% of properties sold in excess of the original list price, by comparison over the past three months 78.9% sold for less than their original list price and 13.0% sold for more than the original list price.
<img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC%202.JPG" alt="">
Sydney has been one of the strongest markets for value growth over recent years however, a big spike in listings and tighter credit conditions has made selling much more difficult.
At one point in mid-2015 more than three quarters of properties sold for more than the original list price.
Fast forward to the current market and 83.3% of properties are selling for less than the original list price compared to 13.3% selling above the list price.
Sydney vendors are now discounting their asking prices by 7.3% on average in order to make a sale, compared with only 5.4% a year ago.
At the peak in October 2015, 25.8% of properties in Regional NSW sold for more than the original list price highlighting that over recent years selling conditions were never quite as strong as those in Sydney.
Over the past 3 months, 82.0% sold for less than the original list price while 9.8% sold in excess of that price.
<img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC%203.JPG" alt="">
Melbourne is currently seeing 76.3% of properties selling below the original list price which is the highest share in at least 12 years.
As recently as April last year, when values were rising at a double-digit annual rate, 34.4% of properties were selling for less than the original list price.
By comparison today, only 18.7% of properties have sold over the past three months for more than the original list price and vendors are, on average, discounting their prices by 6.1% to make a sale.
There has never been a particularly large share of properties selling above their original list price across Regional Vic.
Currently, 9.5% sell for the original list price, 77.5% sell below list price and 13.1% sell above.
<img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC%204.JPG" alt="">
Brisbane’s housing market has seen very little value growth over the past decade and as a result a majority of properties has consistently sold for less than the original list price.
Over the past three months, 65.7% of properties sold for less than the original list price compared to 28.8% selling in excess of the list price.
Vendors are discounting their asking prices by an average of 5.7% in order to make a sale, which is roughly the same level of discounting relative to the same time last year.
The weakness that has been evident across parts of Regional Qld, especially those areas associated with the mining and resources sector, has seen a significant majority of properties over recent years sell for less than the original list price.
Over the past 3 months; 76.5% of property sales were less than the original list price compared to 17.0% selling for more.
<img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC%205.JPG" alt="">
When the Adelaide market was experiencing surging values in 2007 more than 60% of properties were selling above their list price however, over recent years, with housing values holding reasonably steady, very few properties have sold above the list price.
Over the past 3 months; 72.8% have sold below the list price and 21.3% have sold above the list price.
The ongoing weak housing conditions in Regional SA means that in terms of the original list price most purchasers have bought at a discount to that figure.
Over the current period; 86.3% of properties sold for less than the list price and 5.9% sold for more than the list price.
<img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC%206.JPG" alt="">
The ongoing weak housing market conditions in Perth over the past decade has meant that the majority of properties have sold for less than the original list price.
At their peak in mid 2011 (a time at which values were declining), 90.2% of properties sold for less than the originally listed price.
Over the past three months; 76.8% of properties sold below list price which is slightly lower than a year ago but still elevated and 19.0% sold in excess of the list price.
Housing conditions in Regional WA have been weaker than those in Perth culminating in almost all properties selling for less than the originally advertised sale price.
Over the past three months; 84.4% sold for less than their list price and only 9.9% sold for more than their list price.
<img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC%207.JPG" alt="">
As value growth has strengthened in Hobart, an increasing share of properties have sold for above the initially advertised price.
This is a function of relatively few properties for sale and values rising at an almost double-digit rate over the past year.
Over the past three months; an historic high 74.6% of sales have occurred in excess of the listed price compared to 21.7% below the list price.
As the rate of dwelling value growth is accelerating across Regional Tas, an increasing share of properties are selling in excess of the initially listed price.
Over the past 3 months; 34.8% of properties sold in excess of the list price compared to 55.9% selling below list price and 9.4% selling at list price.
<img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC%208.JPG" alt="">
With dwelling values falling for a number of years, very few properties in Darwin sell for more than the originally advertised sale price.
Over the past three months; 86.5% sold for less than the list price and 7.7% sold for more than the list price.
Reflecting the tough selling conditions, Darwin vendors are discounting their prices by an average of 11.7% in order to make sale which is substantially higher than any other capital city.
Regional NT is experiencing stronger housing market conditions than Darwin and subsequently a higher share of sales are occurring above the originally listed price.
Over the past three months; 16.7% sold for more than the list price and 70.8% sold below the list price.
<img src="https://www.urban.com.au/images/2018/11/15/PP%20CL%20CC%209.JPG" alt="">
A much higher share of properties in Canberra are selling at their original list price (14.4%) compared to other regions across the country.
Canberra is also seeing a relatively high proportion of properties selling above the list price (44.3%) although it is trending lower as sales below list price lift to 41.4% of all sales.
The recent decline in sales above the original list price is reflective of the softening housing market conditions across the city.
The data highlights the importance of setting an appropriate asking price on a listed property, and allowing some room for negotiation on the property transaction.
Finding the right balance can be a fine art.
Although the list price is often (not always) known a sale is a negotiation and as this data shows very few properties actually sell for the original list price.
As a result most properties end up selling below their original list price except in very strong markets such as Sydney and Melbourne over recent years and Hobart currently.
The data also shows that in very strong markets, vendors and real estate agents are at times not able to accurately gauge what price a property will sell for with many selling above the list price.
Equally in weak or falling markets a heightened number of properties only sell after the initially targeted sale price is reduced.
</body></html>

ckusher-ujnxiKuFQs

In the last quarter 75% of properties sold for less than their original listed price: Cameron Kusher

<html><body>
EXPERT OBSERVATION
<div>A big jump in listings in Melbourne and Canberra this month, with Melbourne's available stock now comfortably exceeding 39,000, according to SQM Research's latest data and media release.</div>
<div> </div>
<div>There were small declines in October for Brisbane, Adelaide, and notably Darwin and Perth.</div>
<div>
 But the two major capital cities are well up from last year.</div>
<div> </div>
<div><a href="https://1.bp.blogspot.com/-28-ipGfRnqI/W-DpkBGNtnI/AAAAAAAAssA/T0C2fxMYRVY1XCtva9nrk-Ijs1nJBnIeACLcBGAs/s1600/SQM1.jpg"><img src="https://1.bp.blogspot.com/-28-ipGfRnqI/W-DpkBGNtnI/AAAAAAAAssA/T0C2fxMYRVY1XCtva9nrk-Ijs1nJBnIeACLcBGAs/s640/SQM1.jpg" width="640" height="370" data-original-height="798" data-original-width="1375"></a></div>
<div>
 It took a bit longer to get there, but Melbourne has now well and truly joined Sydney with its slowing market, with stock levels leaping 5.9 per cent higher in the month of October alone.</div>
<div> </div>
<div class="separator"><a href="https://4.bp.blogspot.com/-w3AiiL_6oLo/W-Dpkbv6LhI/AAAAAAAAssE/VWGYlMduTKUq5m_Tfp7jcGYyZQUr1vfVwCLcBGAs/s1600/SQM2.jpg"><img src="https://4.bp.blogspot.com/-w3AiiL_6oLo/W-Dpkbv6LhI/AAAAAAAAssE/VWGYlMduTKUq5m_Tfp7jcGYyZQUr1vfVwCLcBGAs/s640/SQM2.jpg" width="640" height="376" data-original-height="799" data-original-width="1360"></a></div>
From a year earlier, Melbourne listings are up by 24.3 per cent, suggesting very slow sales activity in the Victorian capital.
</body></html>

pwargent-M4siyDbqQY

Melbourne stock surge: Pete Wargent

<html><body>
Figures by SQM Research reveal national residential listings fell slightly in October 2018 to 335,014 from 335,854 in September.
Compared to a year ago, national listings rose 3.3%, boosted by a big increase in Melbourne, where listings also bucked the national trend and increased 5.9% in October.
Over the year, the stock available for sale in Melbourne jumped by 24.3%. 
In Sydney, property listings rose by 2.4% over the month to be up 18.2% higher from a year ago.
Listings also jumped by 10.3% in Canberra over the month while asking house prices also continued to rise in the nation’s capital, compared to drops in Sydney and Melbourne. 
<a href="https://www.propertyobserver.com.au/images/2018/11/6/SQM%201.jpg" target="_blank">Click here</a> to enlarge:
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/6/SQM%201.jpg" alt="">
Source: SQM Research
In Hobart, listings rose 0.6%, but remain down 12.9% from a year ago, reflecting a shortage of properties available for sale there.
In Perth, stock on market fell 1.1% in October, while Darwin’s listings dropped 4.9%. In Adelaide, listings dropped 3.2%. Listings were flat in Brisbane over the month. 
Louis Christopher, Managing Director of SQM Research, said a slight drop in listings is normal October after a rise in September listings.
"It is typical to record a slight decline in listings in October after an initial Spring jump in September," said Christopher.
"A second surge is usual in November, before the property market slows down for Christmas, and so we expect listings to rise again this month. 
"Having said that, listings were significantly up in Melbourne, creating large recorded rises over the year, which is illustrative of the downturn Melbourne has entered into.
"In Sydney too, listings are up compared to a year earlier, as well as Canberra, as more vendors consider selling."
Asking Prices
Capital city average asking prices were steady for houses at $939,200 while unit asking prices fell 0.4% to $569,500 over the month to 6 November.
Asking house prices in Sydney fell again, by 0.3% to $1.30 million, to be down 2.8% from a year earlier. Unit prices too fell by 0.4% to $702,700, as the property market continues to correct in Australia’s biggest city. 
Melbourne asking house prices fell again to $959,200, though unit prices were up 0.5% to $553,100. Canberra’s asking house prices in contrast rose by 0.7% over the month to 6 November to be up 12.7% from a year ago, the greatest growth of any capital city. 
<a href="https://www.propertyobserver.com.au/images/2018/11/6/SQM%202.jpg" target="_blank">Click here</a> to enlarge:
 <img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/6/SQM%202.jpg" alt="">
<a href="https://www.propertyobserver.com.au/images/2018/11/6/SQM%203.jpg" target="_blank">Click here</a> to enlarge:
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/11/6/SQM%203.jpg" alt="">
Source: SQM Research
 
</body></html>

Property listings slip modestly in October: SQM Research

<html><body>
My findings reveal that while capital city dwelling values may well be falling, the market is responding with fewer new listings.
However, total listings remain elevated compared to other recent years when housing conditions were much stronger.
For this analysis, I researched listings across each of the past seven years.
 <img src="https://www.urban.com.au/images/2018/7/27/Listings%20DCs.JPG" alt="">
The x-axis represents the time of year and the y-axis shows the number of properties listed for sale.
This representation of the data allows for a comparison of where listings are at any point in time to the corresponding time in other years.
Another point of note is that the listings data tends to be highly seasonal.
Listings fall dramatically during Christmas and New Year and then pick up through autumn.
They then tend to fall during the Winter and rise substantially coming into Spring, then remain elevated until late in the year.
Listings across the combined capital cities over the 28 days to 22 July 2018 saw 21,849 new properties listed for sale and 108,436 total properties listed for sale.
The number of new listings were -6.7% lower than the previous year and total listings were 7.2% higher.
New listings are lower than they’ve been at this time of year, any year since 2012.
Total listings are higher than they’ve been at this time of year since 2012.
Melbourne (pictured below) – Over the past 28 days there were 6,821 new properties listed for sale and 30,029 total properties for sale. Compared to a year ago new listings are -4.8% lower and tracking at the lowest level for this time of year since 2014. Total listings are 10.5% higher than a year ago and are also the highest they’ve been since 2014.
<img src="https://www.urban.com.au/images/2018/7/27/Listings%20Sydney.JPG" alt="">
Adelaide – Over the past 28 days there were 1,646 new properties listed for sale and 7,798 total properties listed for sale. New listings are -8.5% lower than a year ago and the lowest they’ve been at this time of year any year since 2012. Total listings are -2.8% lower than they were a year ago and the lowest they’ve been at this time of year since 2014.
Perth – With 3,007 newly listed properties over the past 28 days, new listings are -1.0% lower than a year ago and haven’t been this low since 2012. Total listings are somewhat different with 20,618 listings which is 1.7% higher than last year but lower than 2016 and higher than every other year since 2012.
Sydney (pictured below) – There were 5,601 new properties listed for sale over the past 28 days which was -13.1% fewer than a year ago but slightly higher than the number in 2016. There were 26,103 total properties listed for sale which was 21.7% higher than last year and the most for sale since this time in 2012 when CoreLogic was tracking 29,366 properties on the market.
<img src="https://www.urban.com.au/images/2018/7/27/Listings%20Melbourne.JPG" alt="">
Hobart – Over the past 28 days there were 344 new and 951 total properties listed for sale. The 344 new listings was up 8.5% on a year ago and the highest at this time of year since 2013. The 951 total properties listed for sale is -23.6% lower than a year ago and sitting at an historic low level.
Darwin – There were 176 new properties listed for sale and 1,446 total properties for sale over the past 28 days. New listings are -3.3% lower than a year ago and while they are slightly higher than in 2016 they are lower than every other year since 2012. Total listings are -11.8% lower than a year ago and are lower than they have been over each of the past 3 years.
Canberra – Over the past 28 days there were 465 new properties listed for sale which was -18.4% fewer than a year ago and the lowest number of new listings at this time of year since 2016. There were 1,753 total properties listed for sale which was -4.9% lower than a year ago and the lowest at this time of year compared to each year since 2012, except for 2016.
Brisbane (pictured below) – The 3,789 new properties listed for sale is - 3.2% lower than a year ago and the fewest new listings since this time of year in 2012. There are 19,738 total properties listed for sale which is 1.2% higher than a year ago and the highest at this time of year since 2012.
<img src="https://www.urban.com.au/images/2018/7/27/Listings%20Brisbande.JPG" alt="">
Across most capital cities the number of new listings is lower than they were a year ago, this is likely a response to reduced demand for housing currently, as a result potential vendors are holding off bringing stock to market.
At the same time, in softer markets such as Sydney and Melbourne, total listings are much higher than over recent years highlighting that although fewer new listings are entering the market the stock that is for sale is proving more difficult to sell.
The real litmus test for the housing market will be what happens in Spring, particularly in Sydney and Melbourne. If, as usually occurs, new listings ramp-up and a lot more stock becomes available for sale this could create further downwards pressure on values. Don’t be surprised though if with tightened credit and an already weakening housing market that Spring this year is a lot more muted than what we’ve seen over recent years.
</body></html>

New property listings shrinking in response to market weakness in capital cities: Cameron Kusher

<html><body>
Figures released today by SQM Research reveal national residential listings rose 1.9% in June 2018.
Total listings went up to 331,407 led by a jump in Brisbane properties hitting the market.
Strong rises were also posted in Sydney and Melbourne, with greater stock in those cities pushing down asking house prices.
Click here <a href="https://www.propertyobserver.com.au/images/2018/7/4/SQM%20.JPG" target="_blank">to enlarge.</a>
<img src="https://www.urban.com.au/images/2018/7/4/SQM%20.JPG" alt="">
Property listings rose 3.8% in Brisbane in June, while in Sydney listing rose by 3.0% from May to be up 25.0% from a year earlier.
In Melbourne, listing rose by 2.3% to be up 7.7% over the year to June 30.
In Canberra, listing rose by 1.1%, 11.0% higher than a year ago.
Listing were steady in Hobart, but they are 25.8% lower than a year earlier, with a property shortage still prevailing there.
Louis Christopher, managing director of SQM Research, said "A greater supply of properties for sale has emerged in most capital cities compared to a year ago, however, that has weighed on asking property prices, especially in Sydney and Melbourne".
“We are seeing more property being listed in Sydney and Melbourne compared to a year ago, which is pushing down asking house prices in both cities and even in Hobart, price growth has slowed despite the ongoing shortage of properties for sale there,” said Christopher.
Click here <a href="https://www.propertyobserver.com.au/images/2018/7/4/SQM%20%202.JPG" target="_blank">to enlarge.</a>
<img src="https://www.urban.com.au/images/2018/7/4/SQM%20%202.JPG" alt="">
Capital city average asking prices fell 1.4% for houses to $962,600 while unit asking prices rose just 0.2% to $580,600 for the month to 3 July.
Sydney led the losses, with asking house prices falling 1.4%. Over the year, asking house prices were down by 0.2% to $1.35 million, reflecting a slowdown of the property market in the nation’s largest capital city.
In Melbourne, asking price for houses fell 1.3% over the month and rose 6.4% over the year, lower than 20%-plus levels a year ago.
Hobart’s growth in asking property prices is cooling too despite a fall in listings, with house prices up by 2.4% over the month to 3 July and up just 5.7% over the year, also down from 20%-plus gains a year through 2017.
</body></html>

National property listings rise while asking house prices slide in big cities : SQM

<html><body>
Sydney buyers are certainly spoilt for choice, but there are emerging signs the listings surge of the past year is waning.
There are 27,000 properties currently for sale by private treaty across the Sydney market.
That's a lot on offer, indeed around 25% more than last May, according to CoreLogic.
Interestingly the 7,000 fresh listings in the past month sits 10% down on the same time last year.
That suggests the last ditch rush to sell is slowing after Sydney's cooling conditions have grabbed the headlines and ebbed into realistic conversations. 
There ought be an increased realisation among prospective vendors that the chance to cash in at peak prices has likely passed.
Vendor expectations are increasingly not being met, except for premium listings across the suburbs. A-grade stock is still selling well, through private treaty and at or before auction.  
Many of the 27,000 current private treaty offerings will not be sold this time around because their vendor missed the market peak that they hoped to capitalise on.
They might linger on websites and in estate agent windows, but pointlessly if they aren't repriced to sell in the current and emerging market.
These listings will hang around making up the estate agent's expansive inventory as we head into the winter hibernation.
Stale listings are much harder to sell since the keenest knowledgable buyers have typically moved on after their initial marketing. 
These stale listings ideally need to be withdrawn to try another time.
Meanwhile the number of sales has eased according to official NSW Office of State Revenue data. 
In March there were 16,950 property transfers, the quietest for four years as buyers become pickier, taking their time without the fear of missing out.
Last March, which didn't have the Easter interruption until mid-April, had 19,500 transfers. The March stamp duty revenue for the state government was $642 million compared to $701 million.
There were 49,000 sales in the first three months of 2018, compared to 52,000 early last year, with the soon to be advised April tally to help the state government shape its upcoming budget.
If these early readings become a marked trend, there won't be anywhere near as much revenue available for the government to spend.
The discussion about the listings and sales in the market is premised that there is choice for all participants.
Certainly arrears and mortgagee sales are at low levels.
The elephant in the room is bank lending which has increasingly restrained buyer capacity.
Just this week the Reserve Bank of Australia deputy governor Guy Debelle indicated there was a "risk" of even further tightening in lending standards ahead.
"This may have its largest effect on the amount of funds an individual household can borrow, more than the effect on the number of households that are eligible for a loan," he noted while adding that has implications for house prices."
This article first appeared in The Daily Telegraph. 
</body></html>

Property Listings

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Property Listings

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News