Brisbane developer Red &amp; Co's decision to include dual key apartments in its debut Gold Coast apartment development, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO Varsity Lakes</a>, is proving to be one of the project's biggest drawcards, with buyers quickly snapping up the flexible residences.

More than half of the project's 36 dual key apartments have already sold, helping drive COMO beyond the 50 per cent sold mark within the first month of launch.

The strong response highlights growing demand for apartment designs that can adapt to changing lifestyles, with buyers increasingly looking for homes that accommodate multi-generational living, provide rental income opportunities or simply offer greater flexibility over time.

Located on the shores of Lake Orr, COMO will deliver 156 apartments across 16 levels, with the dual-key residences forming a limited release within the broader development.

Each combines a primary two-bedroom apartment with a fully self-contained studio on a single title, connected by a shared foyer and lockable internal door. The design allows owners to house ageing parents, adult children or guests while maintaining privacy, or lease the secondary residence to generate additional income.

Just 17 of the original 36 dual key apartments remain available.

[smartcode_project:default project_id=135546 project_image_fid=367096]

The innovative configuration combines two fully self-contained residences on a single title, typically comprising a primary two-bedroom apartment alongside a separate studio residence, connected via a shared foyer and lockable internal door.&nbsp;

The model is proving particularly attractive to owner occupiers navigating changing family dynamics and the realities of the current housing crisis.&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363511]

<a href="https://www.apartments.com.au/project-marketer/npa">NPA</a>&nbsp;CEO Andrew Erwin said dual key living was resonating strongly with modern buyers because it delivered both financial flexibility and practical lifestyle benefits.&nbsp;

“The housing crisis and rising cost of living are fundamentally changing how Australians think about home ownership,” Erwin said.&nbsp;

“Dual key apartments provide a genuine solution for families who want to stay connected while maintaining independence. Parents can help adult children save for a future home, ageing parents can remain nearby without moving into aged care, and owners still retain privacy and flexibility.

“Importantly, buyers are also recognising the financial advantages. It creates the opportunity to generate additional income from part of the home without the holding costs associated with owning a separate investment property.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363509]

Unlike traditional dual occupancy arrangements, the residences operate under a single title, meaning owners only incur one set of body corporate fees, council rates and holding costs.&nbsp;

The secondary residence can also evolve over time - functioning as guest accommodation, a home office, creative studio or private retreat before later becoming an income-producing asset.

<a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a>&nbsp;Director and Co-Founder David Laverty said the strong early sales reflected growing buyer urgency and changing priorities within the market.&nbsp;

“Securing more than half of COMO’s residences within such a short timeframe is an outstanding result and a clear endorsement of both the design and location,” Laverty said.&nbsp;

“Buyers are responding to the combination of location, connectivity and amenity, but ultimately it’s value relative to other East Coast markets that is driving enquiry.”&nbsp;

“We’re also seeing strong interest from owner occupiers looking for homes that can adapt with them over time. Flexibility has become one of the most important considerations for buyers in today’s market.”&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363515]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, COMO features a mix of one-, two- and three-bedroom residences with 2.7-metre ceilings and larger-format floorplans aimed at owner occupiers, downsizers and lifestyle-focused buyers.&nbsp;

The development will feature an extensive rooftop recreation and wellness offering including a 25-metre lap pool, sundeck, barbecue and dining areas, gym, sauna, plunge baths, landscaped gardens, wellness spaces and rooftop pickleball and paddleball courts.

The remaining dual key apartments range from 137 sqm to 167 sqm and include generous three-bedroom layouts with separate self-contained studio accommodation and dual parking.&nbsp;

Erwin said the dual key concept represented a broader shift in how Australians would live in the future.

“People want homes that can evolve with their lives,” he said.&nbsp;

“A dual key apartment can suit a family today, support an ageing parent tomorrow, and potentially generate income later on. That adaptability is becoming incredibly valuable in the current environment.”

Prices currently range from $2,115,750 to $2,583,000.&nbsp;

[smartcode_project_cta:default project_id=135546]

Joel Robinson

Inter-generational living drives demand for COMO’s dual key apartments as housing pressures reshape buyer priorities 

Builder-developer&nbsp;<a href="https://www.apartments.com.au/developers/ceerose">Ceerose</a> has doubled down on its Leichhardt ambitions, lodging its second State Significant Development Application (SSDA) in the suburb in the last six months.

Their newest proposal seeks to transform a former industrial precinct into a new residential community centred around the adaptive reuse of one of the site's heritage warehouse buildings.

The new project, on a 6,930 sqm block at&nbsp;<a href="https://www.apartments.com.au/new-apartments/40-76-william-street-leichhardt-nsw-2040">40–76 William Street</a>, will bring more than 200 apartments to a suburb that has seen little to no new supply in recent years. It follows Ceerose's late 2025 SSDA for a mixed-use apartment project on nearby Parramatta Road, signalling the developer's growing investment in Sydney's Inner West.

Designed by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a>, the redevelopment would involve the demolition of four existing industrial buildings while retaining and adaptively reusing the site's most significant warehouse. The retained structure would anchor a new residential precinct comprising five interconnected buildings arranged around a large central landscaped courtyard, with heights stepping from five storeys along the surrounding residential streets to 11 storeys at the William Street corner.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="7258c54c-8167-479e-8361-2d5fca9915b4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010B%20-%20CGI%20-%20View%202.jpg?VersionId=S9DQfxu_jpcB5LrAEYFUbyMzg5odW6i5" />

According to the Architecture Design Report by Woods Bagot, the proposal "seeks to create a residential village centred around a generous green heart while celebrating the site's industrial heritage through the adaptive reuse of the existing warehouse building."

The development would comprise 203 apartments, with 188 proposed as build-to-sell residences, alongside 15 affordable housing apartments.

Rather than treating the retained warehouse as a standalone heritage object, Woods Bagot has sought to weave the site's industrial history throughout the masterplan. The proposal retains the north and west facades of the landmark corner warehouse, while new buildings reinterpret the site's brick-and-steel industrial language through their material palette and architectural expression.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="9e8c64c2-881b-49e1-8c90-6b6acaaa45b6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010C%20-%20CGI%20-%20View%203.jpg?VersionId=Qm8_8H_Xrg_sc4Mdjc59vlAcKF_5wRTb" />

The design is organised around what Woods Bagot describes as a "green heart", a landscaped communal open space that reinstates the leafy character removed when the site became an industrial storage facility. A new pedestrian laneway running through the site would improve permeability between William, North and Francis streets, linking residents through landscaped public spaces while activating the ground plane.

Residents would have access to communal gardens, rooftop open space and shared recreation areas distributed throughout the development. Sustainability has also been prioritised, with the project targeting an average 7.9-star NatHERS rating. Proposed initiatives include rooftop solar generation, rainwater harvesting, passive solar design, naturally ventilated lobbies, extensive cross-ventilation and the reuse of existing building fabric to reduce embodied carbon.

The adaptive reuse strategy became a defining feature of the application after heritage investigations found only one of the site's industrial buildings could feasibly be retained. The Heritage Impact Statement concludes that preserving the key warehouse façades while referencing the site's industrial character throughout the new development provides an appropriate balance between renewal and conservation.

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="efffafdb-594f-4e2b-a067-921fd51c05e1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010D%20-%20CGI%20-%20View%204.jpg?VersionId=DPmE4.k16YRt0i27hEZVtJAffarpvUfx" />

"Retention and adaptation of the site buildings has been explored but found not to be feasible except for the tallest building, whose street facades will be retained," the heritage report states.

"The proposed building will interpret the brick and steel character of the subject site, including reuse of some components and construction of a large 'sawtooth' structure in the proposed open space."

<img alt="First look: Ceerose returns to Leichhardt with 203-apartment adaptive reuse proposal at former warehouse site" data-entity-type="file" data-entity-uuid="3bfef2b5-83f5-40cd-9cab-767092f34266" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Appendix%2010E%20-%20CGI%20-%20View%205.jpg?VersionId=7asb3i_ql4ybbuJOUb5UHBEIy0Q9t.DF" />

The William Street site is located around 300 metres from Leichhardt North Light Rail station and a short walk to Norton Street's retail, dining and hospitality precinct. The surrounding area has increasingly become a focus for urban renewal given its proximity to public transport and the Parramatta Road corridor.

Ceerose, founded by Edward Doueihi in 1998, has become one of Sydney's more active apartment developers, with completed projects including The Alex Collective in Alexandria, Abbie's Lane in Annandale, and the award-winning Munro House in Elizabeth Bay. They are currently delivering Belgravia, 17 luxury apartments in Potts Point.

First look: Ceerose doubles down in Leichhardt with adaptive reuse of former warehouse site

Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Spacious Group completes Voyage Altona in Altona's beachside precinct

Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<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/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Property News

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The combined capital city weighted average clearance rate fell to 72.9% last week, down from 74.6% the previous week, while auction volumes rose from 2,118 to 2,248. Over the current week, CoreLogic RP Data is tracking 2,639 scheduled auctions, which will bring the total auctions for winter 2015 to over 26,500 which is the highest level on record.
This week, between Melbourne and Sydney, Australia’s two largest auction markets, there are more than 2,200 auctions scheduled, with Melbourne expecting 1,190 auctions over the week and 1,086 in Sydney. Both cities saw clearance rates fall last week with Melbourne’s final auction clearance rate down to 74.3 per cent from 76.5% the previous week. Meanwhile, Sydney’s clearance rate of 76.2% was almost identical to the result recorded one year ago (76.1%).
The number of residential auctions scheduled across Adelaide (105), Brisbane (159) and Perth (40) this week is higher than last week, while Tasmania is expecting auction volumes to remain unchanged, with 9 auctions scheduled across the state.
In Canberra, CoreLogic RP Data is currently tracking 50 auctions, a fall from last week when 75 auctions were held, but higher than at the same time last year (37). For the fourth week in a row, Canberra’s clearance rate surpassed the 70% mark, with last week’s final clearance rate for the city recorded at 71.2%.
Richmond in Victoria has the highest volume of auctions scheduled for any one individual suburb this week, with 24 properties set to go under the hammer.  Following on from this, Reservoir, also in Victoria, has 21 auctions scheduled.
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Highest winter total auction level on record: CoreLogic RP Data's Shana Miller

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Sydney’s property market is predicted to be healthy and stable this spring. 
The market has been like a steam train the past 18 months with prices accelerating far too quickly and a lot of talk of a bubble, however it has now found its feet and is well on the road to a healthier, balanced position. 
This spring, with the Australian economy still strong and consumer sentiment up, we’re hopefully set to see an increase in the number of first home buyers entering the market, as well as an increase in listings. 
My top seven trends for Sydney’s property market this spring are:
<ul>
<li>
Heightened stability. Over the past 18 months, Sydney’s market conditions were frantic and unpredictable, however, we’re now beginning to see a calming of the waters. The market is far less volatile - people know what they’re in for - and with this heightened sense of consumer confidence comes more action and more listings. </li>
</ul>
<ul>
<li>
More listings. With consumer sentiment up, expect to see more properties on the market this spring compared to last. This time last year, buyers were unsure of what would happen, adopting a ‘wait and see’ mentality. However, this year, the market is much more consistent and we should see more stock hit the market as a result.</li>
</ul>
<ul>
<li>
Slightly lower clearance rates. So far this year Sydney’s auction clearance rate has consistently hovered around the mid-80% mark, however, we are likely to see this drop slightly to around the mid-70s. This is still an exceptionally high clearance rate and a sign of a strong, healthy market – one that is stable and less fickle.    
</li>
</ul>
<ul>
<li>
Less local investors. As banks become more prudent about responsible lending, we’ll see less local investors in the market this spring.As investors back off a bit, we are likely to see the number of first home buyers increase by as much as 3-5%. </li>
</ul>
<ul>
<li>
Apartments, apartments, apartments. Sydney is going apartment crazy. We’ll see more being built and more being sold. Although I’m pleased to see more dwellings being approved and constructed, my lingering concern is that a disproportionate amount are still being sold to overseas investors. This spring we’ll no doubt see more debate and discussion on this topic.</li>
</ul>
<ul>
<li>
Emerging growth suburbs. There will be a surge in buying activity in regional areas close to metropolitan cities, as buyers walk away from Sydney in favour of areas such as the Central Coast. Newcastle and Wollongong should also experience increased demand from buyers as Sydney properties become increasingly unobtainable. In Sydney, it’s Mascot, Botany, Riverstone and Leppington that are emerging as the next big growth areas. </li>
</ul>
<ul>
<li>
Prices to increase but at a balanced rate. Property prices will continue to rise, but at a healthier, less accelerated rate. Rather than the 1-1.5% per month increases we’ve been experiencing, I expect to see closer to half a percent increase in prices for the remainder of this year, making it more achievable for first home buyers to purchase their ideal home this spring. </li>
</ul>
 
DOUGLAS DRISCOLL is CEO of real estate agency <a href="https://www.starrpartners.com.au/" target="_blank">Starr Partners</a>.
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Top seven trends for Sydney’s property market: Douglas Driscoll

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On Wednesday I spoke at seminars in Sydney where I heard about a property investment strategy that is different in many respects to one I would pursue. But it’s a very good and successful one, nevertheless.
It reinforces a point about which I’m constantly aware: there’s no single strategy for property investment that can be called the right one. The best strategy for buying property and building a portfolio differs from one person to the next.
Here’s what David McMillan of Performance Property Advisory does on behalf of his clients. He and his team identify one market which, above all others, stands out as the one that offers the most value.
They focus exclusively on that market and devote big resources there to learn all they can, establish a network of service providers and be ready to move quickly when the right properties become available. 
A core plank of the strategy is to buy in areas likely to show good growth in the first three years. Early growth creates the equity that helps to fund the next purchase and build the portfolio.
“People can’t stump up a deposit of $100,000 or $150,000 every time they want to buy another property,” McMillan says. “So we buy them something for $500,000 that will be worth $650,000 in three years time. They build their portfolio using the equity that has been created.
“Most investors only get as far as one property, because they make mistakes. Those mistakes are leveraged and amplified.”
McMillan and his team has a track record of targeting future growth markets well ahead of the pack. They were buying in prime suburbs of Sydney in 2012, in advance of the three years of strong price growth that followed.
Once the temperature rose as the herd stampeded into Sydney, the PPA team exited. The properties bought for their clients in Sydney have grown 40% to 60% in value.
The next focus was Brisbane, with the emphasis on prime suburbs close to the CBD. They started buying there in mid-2013 and have bought close to 300 properties for clients. They’re now on the way out of Brisbane, as more investors come into that market, making it harder to find good-value investments.
“We buy established property, not new property. New property is the most expensive way to buy real estate and the least effective way to grow a portfolio. We look for scarcity and we look for good quality property in good areas.”
How do they know the right time to focus on a particular market? One of the key research tools is charting the relationship between prices and rents.
When Sydney had gone multiple years without significant price growth, but rents had grown considerably, they knew it was the right time to strike. “We want a location with price stagnation for 5-7 years plus a significant increase in rents,” he said.
An example was the top end suburb of Rose Bay. In 2012, the median price had grown only 15% in the previous eight years. But rents had grown 70%. According to the formula, that meant the suburb and many others like it in Sydney were primed for a growth spurt. 
“It was very clear what was going to happen in Sydney,” McMillan says. 
McMillan offers three keys to successful investment:  buy in markets showing value, buy at or below the median price for the target region, and buy quality.
“We won’t recommend a property to a client that we wouldn’t put in our own portfolio. If you don’t like it and wouldn’t live in yourself, then it’s probably not a good property to invest in.”
TERRY RYDER is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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Charting the relationship between prices and rents: Terry Ryder

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Two Balmain terraces and a warehouse with double street frontage in Sydney's Balmain have sold at auction for a total of $4.13 million.
The lot comprised four separate titles over approximately 560 sqm and was offered for sale in one line or two and two.
Ray White Commercial Inner West principal Tim Morrison said the 77-79 Beattie Street property has two separate buildings, two street frontages and being zoned residential with commercial use rights, it offers a myriad of potential uses for development or conversion.
“This property was offered at auction as a vacant possession and attracted considerable interested from developers and occupiers during the marketing campaign,” he said.
 
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Balmain development possibility sells for $4.13 million

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The Madison, the mansion designed by developer Boka Krslovic has recently been sold to a couple looking to upgrade in Kellyville.
Still a display home, meaning the new owners won't be able to move for another three months.
It was on the market for around 150 days, for an undisclosed amount, but once signalled listed at around $2.1 million.
The house was on offer at below replacement cost.
<img src="https://i1.au.reastatic.net/456x342/26030b15853a428cf7cf9d0066ccd467a667f7ecd0a047d0b684e67ef62fa04e/main.jpg" width="456" height="342">
The <a href="https://www.realestate.com.au/property-house-nsw-kellyville-119375363" target="_blank">2 Cardell Avenue listing</a> was advertised as a never-been-lived-in family mansion.
It featured amenities such as a marble ensuite and kitchen and a lift built directly into the home offering easier access for the elderly or people with disabilties. 
It was sold by Cubic Real Estate Chatswood last week.
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The Madison Kellyville display home sells

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Indi Madden, whose family owns the Mitre Tavern in the Melbourne CBD, and her husband Bryan Madden – managing director of fund management firm Brookline Partners – sold their Hawthorn East home.
More than $2.8 million was initially tipped for <a href="https://www.realestate.com.au/property-house-vic-hawthorn+east-120353049" target="_blank">21 Selwood Street</a> by the Kay &amp; Burton agent Nicole Gleeson who passed in the property at $3.2 million, then securing the sale later on Saturday.
It traded at $2.2 million in 2007 when bought from Felicia Leoncelli, the former senior artist with the Australian Ballet Company, and wife of estate agent Andrew Leoncelli.
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Hawthorn East trophy home sells post auction

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Since the winding back of the federal government’s post-GFC stimulus package, Australian property markets have broadly produced underwhelming returns.
Over the last two years, Sydney and Melbourne have been strong. Conversely, Perth and Darwin markets are receding and it is likely to be some time before the clouds lift.
Approximately 70% of properties throughout Australia are worth much the same today as they were five years ago.
Recent jobs data for Sydney and Melbourne has been impressive an I believe that there will be further growth in to the New Year, albeit at more moderate levels than we’ve recently seen.
First home buyers who are concerned about being squeezed out of Sydney and Melbourne markets might reconsider what they are wishing for.
We’ve observed a refreshing trend wherein more people are realising that rent-money isn’t necessarily dead-money.
Deposit monies can be made to work harder through investing it in one of the (strategically-chosen) 9.6 million properties across the country as opposed to limiting the potential return on investment by choosing a property that must meet the specific personal requirements of a family home.  
While our research provides us with great confidence about the outlook for Sydney’s economy, the lack of housing affordability will result in lower rates of growth over the medium term compared to many other locations.
Melbourne is a different story; I have consistently stated we have considerable concerns about the impact which the closure of three car manufacturing plants will have on Melbourne’s market from late-2016 onwards.
Record low interest rates combined with the FOMO (fear-of-missing-out) effect amongst Sydney and Melbourne residents has resulted in heightened investor activity.
A large majority of client enquiries received over the last six months have been from southern-based investors looking to invest in Brisbane.
While we believe Brisbane’s outlook is sound, its economy is not as robust as Sydney and Melbourne.
We have done some investing in Brisbane however, Propertyology has been actively helping investors to get in to alternative markets around Australia that we believe have better potential.
Generally speaking, market fundamentals across the country are sound although the missing ingredient continues to be confidence.
Building approval data from the last couple of years have been at record levels and most of the new supply is focused on capital cities. This, combined with APRA enforced tighter credit conditions, is likely to result in moderated rates of price growth. 
An eventual reduction in property transaction volumes will mean lower taxation revenues for all levels of government. Regulators appear to have over-reacted by applying across the board policy changes in attempt to de-stimulate markets in 30% of the country (Sydney and Melbourne) whereas the other 70% of the country would actually benefit from stimulus.
With the level of investor stock expected to rise in Australia’s biggest cities pressure on rents is likely to ease and rental yields will soften.
Four of the six cities which Propertyology is currently investing in are strong regional locations which have a diverse mix of industry drivers, very affordable housing, and controlled rates of supply.
Whilst Propertyology does not publicly disclose exactly where we are investing, we believe that the stronger markets over the medium term will contain specific industries within their economic profile. These include agriculture, international students, tourism, manufacturing of premium goods, health, and professional services.
 
Simon Pressley is Managing Director of Propertyology, a REIA Hall Of Fame Inductee, property market analyst, accredited property investment adviser, and Buyer’s Agent. <a href="https://www.propertyology.com.au/more-than-a-buyers-agent/" target="_blank">Propertyology works exclusively with property investors</a> to purchase properties in strategically chosen locations all over Australia.
 
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Fear-of-missing-out investor activity driving Spring outlook: Simon Pressley

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Increasing home values within Melbourne are being driven by the detached housing market, with Melbourne now having a higher rolling quarterly rate of growth than Sydney at 6.1%. 
In CoreLogic RP Data's recent housing market video, head of research Tim Lawless said Melbourne growth conditions had picked up over the past three months, however the gap between house and unit performance remains.
"Melbourne house values have risen 12.3% over the past year compared with a 4.8% rise in unit values," he said.
"The underperformance of the unit sector can probably be attributed to the large amount of new unit supply that has flowed into the market over recent years as well as the upwards pressure on vacant land prices that is pushing house values higher."
Watch the video <a href="https://www.propertyobserver.com.au/https://vimeo.com/135932430" target="_blank">here</a>.
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Detached housing values drive Melbourne growth: CoreLogic RP Data

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A 12-level Perth CBD office building near the Elizabeth Quay foreshore development is up for sale through an expressions of interest closing on 17 September.
The property, <a href="https://www.realcommercial.com.au/property-offices-wa-perth-501670729" target="_blank">12-14 The Esplanade</a>, is being offered through Savills Perth agents Chas Moore and Paul Craig, has above ground parking for 138 vehicles, a ground floor tenancy and seven levels of offices - a total lettable area of 7,957sqm. 
<img src="/images/2015/08/19/Screen%20Shot%202015-08-19%20at%2010.49.54%20AM.png" alt="">
The building is 93% leased to blue-chip corporate tenants with a Weighted Average Lease Expiry (WALE) of 2.32 years (based on finalisation of a new direct lease to DBP) and boasts a 4.5 Star NABERS rating.
Savills marketing agent Chas Moore said this is one of only a handful of established properties on the doorstep of Elizabeth Quay. 
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CBD office up for grabs on Perth's Elizabeth Quay

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Two adjacent Melbourne properties with existing apartment development permits have been listed for sale.
322-324 High Street in Ashburton, totalling a combined 1,450sqm, is for sale through expressions of interest, closing Wednesday September 9 at 2pm.
Hamish Burgess from Colliers International said these two adjacent properties have plans and a permit for 19 luxurious apartments over three levels
“Ashburton is one of Melbourne’s most affluent suburbs, with a strong median house price well above $1.2 million and significant demand for apartments in the area," Mr Burgess said.
“Given the high quality permit which is in place, we expect strong interest from both local and offshore developers seeking a boutique-sized project in a high quality area.”
 
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