Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Property News

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It's a wonder they are putting anything to air, as Channel 7 network staff seem to all be busy trading up their homes.
It's from the top down too.
The Seven chief executive Tim Worner and his wife, Katrina have spent a near record $9.5 million on Juan Les Pins, an oceanfront reserve Shelley Beach, Manly residence across the road from their Fairy Bower home of 15 years.
It was bought from Oroton director Ross Lane and wife Sara who had paid around $8 million in 2010. They have paid just shy of the $9.6 million Fairy Bower record price.
Meanwhile Sunrise newsreader Natalie Barr and TV editor husband Andrew Thompson have listed their Mosman home in quick time after securing a $3.2 million home nearby.
The family home has four bedrooms with harbour and city views from its master suite.
Surrounded by a towering hedge wall, the property features a rear private terrace with stone bar.
They paid $1.28 million in 2002, the year she became the Sunrise newsreader.
LJ Hooker Mosman agents Geoff Smith and Richard Harding are expecting between $2.5 million and $2.75 million at its March 23 auction.
The house open for inspection was packed when I breezed past Thursday morning given its mild pricing for most Mosman offerings.
Originally from Western Australia, Barr moved to Los Angeles won an Emmy for her work in O.J Simpon's famous car chase.
She joined Seven News in 1994.  
Her Sunrise colleague Mark Berretta similiarly upgraded Mosman homes in 2012 selling for $1.9 million and buying for $2.8 million. 
Of course Natalie will no doubt run into Channel 9 rival morning host Sonia Kruger who's just settled on her $6.475 million Balmoral Slopes acquisition with her partner, Channel 7 television executive Craig McPherson having sold in Warrawee.
The purchase marks Sonia's triumphant return to Mosman as she once had a two bedroom Musgrave Street apartment which was her first home when bought in 1999 for $490,000.
This article was first published in the Saturday Daily Telegraph.
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jchancellor-FAypfDUnLy

Channel 7 personalities busy upgrading homes

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Staying ahead of the gentrification curve can prove profitable to investors, say HTW as it reports the NSW North Coast progressing from a rising market in February to approaching the peak in March, according to the latest HTW property clock.
Lismore / Casino / Kyogle
The council areas of Lismore City, Richmond Valley and Kyogle generally do not have specific areas which are undergoing gentrification or a metamorphosis from an ugly duckling to a knockout swan.
<a href="/images/2016/03/16/Screen%20Shot%202016-03-16%20at%209.27.30%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/16/Screen%20Shot%202016-03-16%20at%209.27.30%20AM.png" alt="">
One possible market segment that benefits from improved appeal are those areas which over an extended period of time have transferred from public or government ownership to private ownership, such as Department of Housing properties. Generally, once such properties have come under private ownership they are renovated and subsequently rented as an investment product. As an example, most of the houses in the former Department of Housing estate on the northern ridge of Lismore Heights are now under private ownership. 
Another form of gentrification, albeit currently at a minor scale, is the identification of residential properties on traditionally quarter acre sites (1,012 square metres) close to the CBD being further improved by subdividing the land (minimum 400 square metres) or improving the property as a dual occupancy by building an additional dwelling or granny flat.
In these regional areas, any form of gentrification is only beneficial if the expected costs are more than accounted for or outweighed by the improvement in market value as an investment product. Therefore, thorough investigation and identification of the key cost factors would be crucial to success.
The ongoing low level official interest rates will continue to have a steadying impact on the overall residential market throughout 2016.
One area to keep a close eye on for 2016 is the affordable but modern detached duplex unit. Having a smaller foot print area, i.e. strata site, compared to the modern four-bedroom, two-bathroom, double garage home on typical freehold site of 650 square metres plus, not much is really sacrificed. 
The detached duplex design can vary like any other freestanding residence and still possess a similar number of rooms and garaging on a smaller site and smaller open space by employing split level, part two-level or two-storey designs. More and more people are starting to realise that a large backyard is not a necessity for young couples or mature aged couples with no children or pets.
The prices are generally lower than their larger counterparts and yet still provide good quality improvements and living accommodation. It is now commonplace to note that most corner sites in new residential subdivisions are specifically targeted for this type of development. Even within existing residential areas, some property investors are actively seeking out larger residential properties close to the CBD, i.e. houses on corner quarter acre blocks (1,012 square metres) to carry out dual occupancy development of the existing residence rather than starting from scratch with freshly developed parcels of land in a new estate.
Generally, properties within the $250,000 to $350,000 price bracket are likely to be the main price brackets receiving most of the activity within Lismore City for 2016, whereas it would be slightly lower in Casino and Kyogle at $200,000 to $300,000. However, there is an increasing supply of modern and semi-modern homes in the $400,000 plus bracket for Lismore City, thanks in part to the development of the modern residential estates dotted within Goonellabah.
The most affordable property type will continue to be the older stock of the typical circa 1970s and 1980s, two-bedroom brick and tile units of which little have sold in 2015. This is likely to continue throughout 2016, however at affordable price levels of $125,000 to $175,000 (depending on whether renovated or not) and still generating a reasonable rent return in areas close to the CBD and major educational facilities such as Southern Cross University. Good buying opportunities may present themselves providing the body corporate fees are kept in check and to a minimum.
One area of caution is the traditional 100 acre hobby farm or rural lifestyle block in semi-remote to remote localities. With the possible threat of increasing costs to maintain such properties and distance from the main centres, their popularity is continuing to fade. Already at the extreme end of the scale there is a significant fall (up to 50% in some cases) in market value for timbered, remote parcels of 100 acre lots with limited or no services over the past three to five years.
In summary, HTW expect the residential property market for Lismore, Richmond Valley and Kyogle Council areas for 2016 will continue with some assurance of stability. While unlikely to see major growth, quiet confidence should remain while couched in the hope that a low interest rate environment remains, even if there are modest rises in the banks’ rates.  
Ballina / Lennox Head / Byron Bay / Mullumbimby / Ocean Shores
The 2016 year within the Ballina residential property market could go two different ways. The strong demand and quick turnover of 2015 may continue or it could slow down around the middle of the year. 
Interest rates are still low which is one of the driving factors of first home buyers and investors. If market conditions begin to slow with interest rate increases and a slowing Australian economy, we could possibly see a slump. This could force investors to sell, which in turn would increase stock levels. However, with the new Pacific Motorway recently completed between Tintenbar and Ewingsdale, we could see a trend of Queensland buyers coming down into the Far North Coast and in particular the Ballina region.
If overall economic conditions remain unchanged, the overall market in 2016 will remain steady for the Far North Coast.
The most noted area of gentrification within the coastal localities is the ongoing development of the Ferngrove and River Oaks estates in Ballina.
The previous local stigma associated with these subdivisions due to a combination of the landfill requirements and difficulties in the land market have finally subsided. Land values are increasing in each new stage release and demand remains strong. The once swampland is now turning into a well established modern looking estate. The young (first home owners) and older (retirees) are building on the manageable, some would say, small parcels of land. Residents of these estates cannot complain about potholes or having nowhere to take the kids. New smooth bitumen roads and ample amounts of safe pathways and parks with children’s play equipment also add to the increased market acceptance and gentrification of this precinct within Ballina. 
The property markets in Sydney and Melbourne reportedly slowed in the later part of 2015 which in turn will see the coastal resort towns of Byron Bay and Lennox Head remain steady and possibly ease towards the middle of the year (there is generally a lag). 
As these towns are generally driven by interstate lifestyle changers, the market conditions upwards of $1 million will be the first indicator that the market has eased.
The lack of stock and strong demand have resulted in the Byron Bay area having tremendous growth over the past 18 months, however economic forecasters and global uncertainty will have an impact.
The lower level or entry points circa $400,000 to $700,000 will remain steady and fare better than the prestige market due to the lack of housing and strong rental returns. Investors will still see opportunity in this price bracket. 
<img src="/images/2016/03/16/main.jpg" alt="">
Examples of recent sales include a three-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-ballina-119709471">1/2 Marge Porter Place Ballina NSW 2478</a> (above) for $310,000 recently, while a three-bedroom townhouse at <a href="https://www.realestate.com.au/property-house-nsw-byron+bay-121889094">8/2 Cemetery Road Byron Bay NSW 2481</a> (below) sold for $585,000.
<img src="/images/2016/03/16/main-1.jpg" alt="">  
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prateek24-ezbwHMbNAk

Byron Bay shows most promise in North Coast price growth: HTW

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GUEST OBSERVER
The dawn of Autumn brings a fresh round of listings to the residential market, as vendors who have been waiting patiently for the holiday season to conclude begin to put their property up for sale.
 Listings in February are up by 50% for houses, 9% for townhouses and 14% for apartments compared to last month, albeit coming from the lowest turnover month of the year.
Increased supply equates to more choice for buyers. While bidding at auctions was strong and nominal prices were higher than last year, many properties in the inner suburbs have seen a decrease in real values since February 2015.
Average house prices in the inner suburbs were down 2% over the rolling quarter. After adjusting for inflation, the worst performer was the inner North, with median prices consistently falling each month since October 2015. Brunswick, Brunswick East and North Melbourne are all on Secret Agent's bust list for three or more rolling quarters. At the other end of the market, real prices in the inner South are on par with the highest point reached in 2015. With only small sale volumes, this statistic might be exaggerated, but it is supported by the underlying trend of rising house prices in this region. 
South Melbourne and Port Melbourne are the best performers, each experiencing four and three consecutive rolling quarters of price growth, respectively.
<a href="/images/2016/03/4/Screen%20Shot%202016-03-04%20at%201.56.15%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/4/Screen%20Shot%202016-03-04%20at%201.56.15%20PM.png" alt="">
Townhouses saw the biggest drop in price of all property types, down 4.5% over the past three months. This is great news for buyers, who were able to obtain more value for their money. The median price per square metre was down 16.5% to $6,300. Despite being well above the median price per square meter for houses, which currently sits at approximately $5,000 per square metre, this is well below the usual premium charged for the convenience townhouses offer to homeowners.
Apartments are the only market that saw a price increase this quarter compared to last, by nearly 2%. With mortgage rates still at an all-time low, many potential buyers are able to enter the market at the bottom end. Fitzroy is again on our apartment boom list, with Collingwood also joining as a high growth suburb in recent months. On the other hand, CBD apartments continue to fall in value, down 11% in real terms since this time last year. 
This trend is likely to continue as the year progresses and more supply is released to the market. The Melbourne CBD and Southbank areas have both experienced three rolling quarters of price decline. Secret Agent notes that precedents are still being broken at the higher quality end of the market. Our data does not accurately represent this part of the market and it needs to be considered from an observational perspective. Quality has been in short supply in the early parts of 2016. As a result, quality offerings are snapped up quickly once discovered by the general public.
The next few months will help set the tone for the rest of the year. The property market is highly topical at the moment with the expectation of a slow down in the economy. This could bring the debate of a potential bubble burst back into the public arena. However, the latest GDP figures show an economy that is still proving to be resilient. Over the coming months, Secret Agent intends to delve deeper into the economy and look at current expectations for the short to medium term.
Quarterly Scorecard
DEC 2015 - FEB 2016
<a href="/images/2016/03/3/Screen%20Shot%202016-03-03%20at%2012.56.27%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/3/Screen%20Shot%202016-03-03%20at%2012.56.27%20PM.png" alt="" width="851" height="489">
For more information, <a href="https://secretagent.com.au" target="_blank">click here</a>.
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Melbourne February house listings up 50 percent from January: Secret Agent

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GUEST OBSERVER
Here's my opinion on the possible effects of the markets based on Labor’s policy proposal. We might make a further assessment once we see more details from the Libs. 
Lets consider some of the fears that have been raised by various lobby groups who have argued both for and against.
Would there be a surge in rents?
In our opinion, we think no. And that is based on what happened in history as well as the fact that if Labor’s policy passed, it would keep negative gearing on new property.
Lets first consider history.
<a href="/images/2016/02/17/48566a79-6a5d-4f00-af6e-21b7564fd5b6.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/17/48566a79-6a5d-4f00-af6e-21b7564fd5b6.png" alt="">
As most of you are aware, Negative gearing was briefly scrapped by Paul Keating (As Federal Treasurer), Starting July 1985. It was then restated in Mid 1987.
As the chart illustrates, while rents were rising, certainly there was no spike in rental growth rates over that time. Indeed rental growth rates were returning back to be in line with the CPI rises recorded over that period. Rental growth rates were slower than what was recorded in the early eighties.
Post the period, rents did accelerate, however so was inflation as the economy entered into an overheated period post the stock market crash of 1987. Rental growth rate completely feel away as the economy entered into recession in 1990. At no time during this period did rents fall, and that is because overall inflation in the 80s was still relatively elevated. Rents and inflation have historically been closely correlated.
For those who are interested in the city by city break up over this time, ABC Fact Check compiled an accurate story last year.
As is illustrated by ABC most of the rises this time were primarily driven from Sydney and Perth with vacancy rates in these two cities already low prior to the scrapping of Negative Gearing.
Of course, the period 1985 to 1987 was a turbulent period for the economy and major economic reform. We had the slump in the Australian dollar caused by a blow out in our current account deficit, a deregulated financial sector, a stock market boom, followed by the almighty crash of October 1987. It was indeed the roaring eighties.
In this regard, we think the evidence of a spike in rents, directly attributed to the scrapping of negative gearing is scratchy at best. And worse, it is misleading.
But just in case there is a relationship there, Labors' proposal to keep negative gearing on new properties would most likely ensure a strong supply side response to the market. We have seen such directed stimulus work on the markets before, namely in the form of various first home owner grants, so we are confident, the market is responsive to such stimulus. 
A surge, followed by a slump in the market?
This would have to be one of the largest risks in Labor’s proposal. As the cross over date approaches at 1 July 2017, I believe there is a risk of  a surge in investor demand for existing property to take advantage of the grandfathering provisions. Then once the date is reached, a subsequent slump could occur by the drop off in demand from investors. Once again, this is not without its precedent. This phenomena occurred during the introduction of the GST and it also happened when the first home owners grants were repealed in 2003 and 2010.
Of course, this scenario is not guaranteed, and yes, there is a chance investors would see through the ramification of such a possible slump, and then therefore hold off buying on mass. But somehow I think the animal spirits are likely to take over as they have done the past. This risk certainly cannot be completely ruled out.
A solution to this is a scaling out of concessions on existing property over a period of time. I think for example a two year phase out period would do much to reduce this risk.
New properties record a price surge. But on resale would be discounted. 
We believe it is likely that a surge in demand for new properties would see an additional premium placed on such properties compared to the existing market. In our experience, off-the-plan developments, particularly for multi-story apartments come on at an average 20% premium to comparable existing units. Arguably this happens due to the ‘new’ nature of the product compared to existing properties which have older fixtures and fittings. This premium is eventually reduced to over time as ‘wear-and-tear’ develops on the property.
What may happen though is that the “20%” premium may further increase as demand surges. Remember, developers are always trying to maximise profit margin and there is no better way to do that then to lift the price! This would not be a desirable event at all as it would increase the chances of considerable investor capital losses on any resale, especially within the first five years of the life of the property. Remember, secondary purchasers will not be able to access the negative gearing benefits once the property is resold back into the market.
I also cant help myself scoff at the recent claim by Chris Bowen when he said
“Investing in a new property is not in any sense more risky than buying an existing property.”
Take it from me as someone that has assessed, analysed, owned, sold real estate of various property types over the years, new property is more risky than existing property. Lets just start with contract risk.
Has anyone read all the rescinded contracts that have taken place in Sydney last year over sunset clauses? Has anyone been reading on the appalling resale rates in areas such as Docklands over the years? Is anyone aware that quite a few builders/developers have gone belly up over the years?
Likely Scenario – An adjustment phase with some periodical distortions in the market, but no rent spikes.
We believe that should Labor’s proposal succeed there would be an adjustment period where, yes, many investors may stay away from existing property for a period of time, but only until such time that a rise in yields gives them incentive to start buying existing properties again. This would happen as investors would demand a higher yield to offset the lack of tax concessions.
But such a period would not go on forever. Once yields are higher, investors would then re-enter the market. Potentially yields could rise to the point where existing residential properties are cash-flow positive from day one, or at least, cash flow neutral. Which I believe would be a positive for the asset class over the long run.
For those advocating for a return to better value on residential property, the reduction in negative gearing concession may well trigger this process. 
But this adjustment does not necessarily mean there would be an outright “decimation of the market”. We may well likely see for example a period of stagnation in property prices for existing property. Or prices rising more slowly than rents.
I suspect the outcome here would be reliant on interest rate settings and the overall health of the economy. But to ensure such a more stable outcome, we do strongly suggest to Labor that a scaling out approach is a safer strategy. 
Louis Christopher is managing director, SQM Research and can be contacted <a href="https://www.sqmresearch.com.au/index.php" target="_blank">here</a>.
{mijopolls 130}
 
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No rent spikes or market decimation under Labor's negative gearing: Louis Christopher

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Across the country there were 47,483 unique new property listing over the 28 days ended 7 February 2016. The number of new property listings is 11% higher than at the same time last year.  
If we look back over recent years it is the highest number of new property listings at this time of year since 2010. If we look at the combined capital cities we have also seen a large ramp-up in new listings with 27,430 new listings which is 5.4% higher than at the same time last year.  
Again it is the highest number of new property listings over the corresponding period since 2010. The first chart shows that over the Christmas / New Year period there is typically a sharp fall in new listings.  If history is any guide new listings are likely to continue to rise until the middle of March.
<a href="/images/2016/02/12/Chart-1-1-580x139.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/12/Chart-1-1-580x139.jpg" alt="">
 
<a href="/images/2016/02/12/Chart-2-1-580x144.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/12/Chart-2-1-580x144.jpg" alt="">
 
Total residential property listings experience a seasonal fall each Christmas / New Year period however, the slowdown is nowhere near the magnitude of the slowing in new listings.  The most recent data in the chart also indicates that total listings are actually starting to decline.  Across the country there are 239,398 total unique property listings which is -1.6% lower over the week but 0.2% higher relative to the same period in 2015.  
For the combined capital cities there are 99,137 total unique property listings which is -1.0% lower over the week but 2.6% higher year-on-year.  Much like new listings, total listings typically continue to rise up until the middle of March each year.  Given this it will be interesting to see if the fall in total listings over the most recent week will be short lived or whether there are some different factors at play.
<a href="/images/2016/02/12/Chart-3-1-580x326.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/12/Chart-3-1-580x326.jpg" alt="">
If we look at the number of listings across the individual capital cities there are some rather interesting differences across the cities. While new listing overall are higher than a year ago they are lower in Sydney and Darwin. 
In fact new listings in both Sydney and Darwin are at their lowest level for this time of year since 2012. Elsewhere new listings in Melbourne and Brisbane are at their highest level on record (since 2007) for this time of year. In Adelaide and Perth new listings are at their highest levels for this time of year since 2010 and in Hobart and Canberra they are at their highest levels at this time of year since 2014. 
Whether the surge in new listings in most capital cities is in response to a belief that housing demand is improving or trying to beat a potential slowdown remains to be seen.  The rise in Perth new listings in particular is counterintuitive considering it has been the weakest capital city housing market over the past twelve months and you would expect given those conditions fewer people would be looking to sell.
Turning to total listings, although they are 2.6% higher year-on-year across the combined capital cities, Sydney, Perth and Darwin are the only cities in which total listings are higher than a year ago. This seems more in-line with market conditions with concerns the Sydney market is slowing and values falling in Perth and Darwin it appears that total listings reflect the slowdown in sales activity in these markets. 
If we look at the other capital cities relative to the same time of year previously, Melbourne listings are at their lowest level since 2011, Brisbane its lowest since 2008, Adelaide and Hobart listings are at their lowest levels since 2010 and Canberra listings are at their lowest level since 2014.  The relatively low level of stock across these cities has the potential to spark competition for the available stock and lead to increasing values. 
Of course this would only occur if buyer demand is also rising and it is a little too early in the year to tell if that is occurring.
<a href="/images/2016/02/12/Chart-4-1-580x207.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/12/Chart-4-1-580x207.jpg" alt="">
The CoreLogic RP Data Listings Index tracks pre-listing activity by real estate agents across our proprietary platforms. The index points to properties about to be listed for sale and correlates with new listings data.
At a national level, the listings index is at its highest level since early October of last year however the seasonally adjusted data still shows the seasonal slowdown. In terms of a comparison to the current reading compared to the comparable week in past years, the Index is at its highest level for this time of year on record.
Looking at the Listings Index across individual capital cities shows some varied trends when we compare the current value to the value over the same week in previous years.  The Index is lower relative to a year ago in Sydney (-8.9%) and Adelaide (-3.1%). In Melbourne, Brisbane, Hobart and Darwin the Index is at a record high for this time of year.  In both Perth and Canberra the Index is at its highest level for this time of year since 2011. Based on this data we can expect over the coming weeks new listings to be higher than they were across most capital cities.
The listings data and Listings Index will be interesting to track over the coming weeks. The capital city housing markets were showing softer value growth conditions over the second half of 2015 however, early indicators for 2016 have showed a bit of a rebound in the CoreLogic Home Value Index and improved auction clearance rates.  It is important to note that the indicators early in the year are based on a thinner number of sales so it will be important to track the trends as they are updated week to week.
What we do know is that the amount of properties listed for sale both in terms of new listings and total listings is high and it will be interesting to see how well these properties are absorbed by the market over the coming weeks and months.  Particularly as auction volumes and buyer activity typically starts to pick-up between now and Easter.
Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/about/" target="_blank">here</a>.
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New residential property listings are ramping up quickly in 2016: Cameron Kusher

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GUEST OBSERVER
One of Australia’s biggest comparison sites finder.com.au reveals ‘lifestyle renting’ is sweeping the housing market, and warns the trend is putting some under dangerous housing stress.
According to the new research, Australians are shelling out up to 38 percent of their weekly income to rent in desirable locations – well above the 30 percent threshold for housing stress.
The finder.com.au analysis showed across the capital cities, renting a house in Sydney takes a staggering 37.9 percent of the NSW average wage. On average, Melbourne renters are handing over 30.7 percent of their weekly earnings on rent. Brisbane rent was also a potential source of stress, requiring 28.4 percent of the average Queensland wage. Renting an inner-city property that is close to trendy bars, cafes and work trumps the home ownership dream for a growing number. This new generation of renters are not renting while they save for their dream home – they are renting their dream home instead. It’s alarming that they are overstretching themselves. It’s a case of ‘keeping up with the Joneses’ for some who are living in properties they can’t afford. Interestingly Sydney renters spend a higher proportion of their weekly income paying rent than what some people are committing to their mortgages.
<a href="/images/2016/02/10/Screen%20Shot%202016-02-10%20at%2010.01.03%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/10/Screen%20Shot%202016-02-10%20at%2010.01.03%20AM.png" alt="" width="806" height="785">
If you’re forking out more than 30 percent of your income to pay for housing, then you are considered to be in housing stress. The old real estate belief that people rent because they couldn’t afford to buy was not the case anymore. Some have just become accustomed to the ‘good life’ of being close to everything and are not prepared to give that up to get onto the property ladder. ‘Rentvesting’ is also becoming a more popular option for Australians – this is where people buy an investment property in a more affordable suburb as a way to enter the property market sooner, and proceed to rent in their desired location. Data from the Australian Bureau of Statistics shows an increase in households who are renting over the past two decades. In a 2013-14 report on Housing Occupancy and Costs, the ABS noted that 25.7 percent of households were renting their home privately, up from 18 percent in 1994-95. The proportion of private renters will likely continue to increase, with renters avoiding the hidden costs of homeownership, which include maintenance, council rates and insurance, Ms Hassan says. Hobart was identified as the most affordable capital city to rent where you will sacrifice 25.2 percent of your weekly wage on rent. Ms Hassan says renters could be forced out of capital cities with rents between 4.9 and 15.5 percent higher than regional areas in those states. The biggest gap was in New South Wales where the proportion of the average weekly wage to rent in the capital city (37.9 percent) was 15.5 percent higher than regional areas (22.4 percent). Renting in areas outside of the capital cities was much more affordable with the percentage of weekly earnings ranging from a modest 19.9 percent (in Victoria and Tasmania) up to 23.1 percent (in Queensland). Queenslanders pay the highest proportion of their average weekly salary on renting a home outside of the capital cities, where the average weekly salary is $1512.20 and median rent is $350. But even then, this is well within the housing stress threshold making regional living, unsurprisingly, an attractive option for some renters.
<a href="/images/2016/02/10/Screen%20Shot%202016-02-10%20at%2010.02.32%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/02/10/Screen%20Shot%202016-02-10%20at%2010.02.32%20AM.png" alt="" width="837" height="763">
Top 5 tips on how to reduce housing stress
Rental costs increase almost exponentially the closer you get to the city centre, so moving a couple of train stops further away could save you hundreds of dollars a month.
If you have a good relationship with your landlord, it's always worth asking for a rent reduction if you're prepared to sign a longer term lease.
Put more aside for rent than the required amount. This will give you a buffer if you are faced with challenges.
Be in the habit of budgeting before you start a tenancy. Know what you can afford and only rent what’s reasonable. 
Give yourself a financial makeover. Go online and compare what you're paying for things like contents insurance and utilities to make sure you aren’t paying too much.
Bessie Hassan is consumer advocate at <a href="https://www.finder.com.au/" target="_blank">finder.com.au</a>.
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Lifestyle renters suffering ‘housing stress’, new research reveals: Finder.com.au's Bessie Hassan

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Estate agent Anthony Brancatella has pleaded guilty to misappropriation.
The amount totalled almost $2 million across 62 breaches.
The former director of the McDonald Real Estate franchise in Mulgrave pleaded guilty to 62 charges relating to fraudulently converting money he obtained from property deals.
The Victorian County Court heard Mr Brancatella cashed cheques from trust accounts where sale deposits were held for vendors, putting the money back into the firm’s business account.
The Herald Sun reported he also misappropriated deposits by never placing them into the trust account, often using them to pay off renovations to his own house, staff wages, and debts owed to other clients.
Prosecutor Daniel Porceddu said Mr Brancatella had defrauded clients of a total of $1,999,920, of which $508,000 was repaid via claims to the Victorian Property Fund, and almost $400,000 was repaid by the Brancatella.
Several victim impact statements were read out during the plea hearing which continues.
The offences occurred between December 2011 and June 2014.
The Brancatella franchise company was placed into external administration in the wake of the CAV investigation.
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Musgrave estate agent pleads guilty to misappropriation

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Homeowners trying to sell their homes on their own — for-sale-by-owners (FSBOs) — are courted by emerging disruptive websites.
Most of them want to save money on real estate commissions, rather than because they feel they don’t need a professional to sell their home.
Recent data from a National Association of Realtors survey in the United States shows that less than 10 percent of FSBOs actually sell.
The Inman site listed some of the top reasons why FSBOs fail in real estate.'
1. Owners do not know how to screen potential buyers and fail in the closing process.
2. Owners fail to solve buyer’s queries.
3. Owners don’t understand the concept of ‘golden time’, as according to this concept, homeowners get the most money for their homes shortly after of putting the property on the market. 
4. Owners fail to understand the contract procedures.
5. FSBOs don’t know how to handle the home building inspection findings.
6. FSBOs incorrectly price their homes too high.
7. FSBO homes lack exposure.
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Property 101: Why for sale by property owners fail

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OK, here we go again. 2016 has well and truly kicked in and before we know it January will be gone. Strewth, it's Australia Day next week!
So have you set your goals for 2016?ï¿½ Yeah, I know...boring!
Yes, goal setting can be pretty dry - what do they say? Make your goals SMART - Specific, Meaningful, Action Orientated, Realistic and Timely. That's so 1980's - I'm going to an 1980's themed birthday party soon, maybe I'll dress as a SMART goal!
So here's my fun way to set goals.
Each year I go away on a girls weekend and we share our goals or dreams for the following year over a few glasses of wine. One of us stays sober enough to write them all down and then we check in to see how we've all tracked the next year, over more wine of course. It's fun and sharing our goals in this way makes us more accountable.
What I tried to do this year was think about what I wanted to achieve from my goals or dreams. Actually, I focussed on HOW I was going to ENJOY the results of achieving the goals rather than the goals themselves.
So here's the results of my goals that I'll be enjoying soon:
- more time hanging out with those I love.
- going to Europe next year with those I love.
- relaxing time at the beach or immersed in other elements of nature.
- becoming fitter and healthier.
- growing my awesome business.
As Napoleon Hill said; "A goal is a dream with a deadline".
Once I had written down what I wanted to enjoy from achieving my goals, writing the goals and setting the deadlines was easy.
Basically my goals are to create more opportunity. Opportunity is defined as; a time or set of circumstances that makes it possible to do something.
Opportunity, whether it be to make money or to meet people or to simply relax, is golden. Being specific and visualising opportunity is important. But the most important thing is to take action.
I've been talking to a number of people lately who are doing just that - taking action. There are some that I'd spoken to months ago, in fact one chap I started talking to five years ago, and after thinking about their investment goals over the Christmas break, they are now ready.
So action will be taken, sooner than later and by Property Bloom for these new clients. By helping them develop property, I'll also be achieving my goals.
I read a funny Seth Godin story where he lists seventeen times to start taking action, my favourite is "The best time to start was last year, the best opportunities are gone" (I've heard this one so many times from property investors) but then he finishes his long list of the best time to starts with; "Actually, as you've probably guessed,ï¿½the best time to startï¿½was last year. The second best time to start isï¿½right now."
ï¿½
Jo Chivers is chief executive officer of property development project managersï¿½<a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
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Setting your 2016 property investment goals: Jo Chivers

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Residential property listings nationwide fell in December, down 5.2% from November 2015, according to SQM Research, to end at a total of 343,618 listings. 
Managing director of SQM Research Louis Christopher said year-on-year results, a better indicator due to the seasonality of December show large rises in Sydney with Melbourne listings noticeably down.
<a href="/images/2016/01/14/Screen%20Shot%202016-01-14%20at%2010.36.50%20AM.png" target="_blank">Click to enlarge</a>
 
<img src="/images/2016/01/14/Screen%20Shot%202016-01-14%20at%2010.36.50%20AM.png" alt="" width="856" height="252">
"While the headline may record a decline in listings for December, the truth is there is heavy seasonality this time of year. Therefore the yearly result is a better indicator of the market," he said.
"And on that front we are recording large rises in Sydney while Melbourne listings are noticeably down. To me this is yet another indicator of the slow market that Sydney is now experiencing and the contrasting Melbourne market which this information suggests, is firming.
"Year-on-year results indicate that residential property listings are up for most capital cities. Notably, property listings in Sydney and Canberra are considerably higher than this time last year (December 2014). Sydney experienced a yearly rise of 16.2%, with residential property listings climbing from 20,268 to 23,546. Canberra also experienced excessive yearly growth with sale listings up 14.2% based on a total 3,525 listings. These figures indicate that the number of property sellers in both residential markets has increased."
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