Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

Joel Robinson

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

IN BRIEF

<ul>
	<li>
	Just three double-storey Sky Homes sit at the top of The Waterline, each with its own private marina berth and rooftop terrace.
	</li>
	<li>
	Construction on The Waterline is complete, with the first residents expected to move in from mid-October.
	</li>
	<li>
	Sky Homes range from 282 sqm to 367 sqm and are priced from $3.65 million.
	</li>
</ul>

<hr />
Lewis Land has opened the first completed sky home for inspection at Harbour Shores, giving buyers their first opportunity to step inside one of just three double-storey residences crowning The Waterline.

Each sky home comes with its own private marina berth, rooftop terrace and Broadwater views, combining the scale of a larger home with direct access to the boating lifestyle that underpins the wider <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplan.

[smartcode_project:default project_id=113271 project_image_fid=366708]

Lewis Land Head of Development Michael Long said the inclusion of a berth with every Sky Home had become increasingly valuable as marina access across the Gold Coast tightened.

“Marina berths are becoming increasingly difficult to secure across the Gold Coast, so including one with every Sky Home makes this a genuinely rare offering,” Long said.

“The private 70-berth marina will accommodate boats up to 12 metres in length and is positioned just 2.5 kilometres from the Broadwater, placing the open ocean only 15 minutes away.

“Being able to step out of your home onto your boat is a rare luxury, and it’s something residents here can look forward to when it opens later this year.”

[smartcode_project:default project_id=113271 project_image_fid=366709]

The display opening comes as construction completes on The Waterline, with the first residents expected to move in from mid-October.

The three Sky Homes range from 282 sqm to 367 sqm and each feature three bedrooms, three bathrooms, multiple living zones, expansive kitchens with butler's pantries and large balconies taking in the Broadwater outlook.

Each residence also has three secure basement car spaces and additional storage.

“This is the first opportunity the Gold Coast has had to step into Harbour Shores and see, touch and feel what we’re bringing to life here,” Long said.

“There are only three Sky Homes within The Waterline, ranging in size from 282sqm to 367sqm, with each residence featuring three large bedrooms, three bathrooms, multiple living zones, expansive custom-built kitchens with butler’s pantry, and large balconies capturing Broadwater views.”

<img alt="Harbour Shores" data-entity-type="file" data-entity-uuid="bab65e10-4fab-45e1-92d8-fc56e2ab98ff" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%202.00.16%E2%80%AFPM.png?VersionId=XT8q76LsPkw3cYTsvN3JfFDaPLud90PN" />

Residents of The Waterline will have access to a private pool, along with Harbour Shores' wider collection of amenity including a lagoon pool, social clubhouse, tennis court, gym, yoga facilities and sauna.

Lewis Land partnered with Studio Collective to furnish the completed display, with the interiors designed to demonstrate how the residences could function as permanent homes rather than simply as show apartments.

Studio Collective Director Melissa Park said the surrounding waterways informed the interiors, but in a more restrained way than a traditional coastal scheme.

“We drew inspiration from the canals and coastal surrounds, but our approach was to interpret that subtly through layered materials and a grounded palette of earthy tones, rather than literal coastal references,” Park said.

“We introduced hero moments of green and teal to reference the surrounding waterways, while mirrored elements help reflect natural light.

“The result is a residence that feels elevated yet comfortable, somewhere buyers can genuinely imagine themselves living, entertaining and unwinding.”

Sky Homes are priced from $3.65 million.

Lewis Land is also offering private marina berths with The Residences, its limited collection of three and four-bedroom villas positioned directly along the Harbour Shores waterfront boardwalk.

Three-bedroom villas are priced from $2.99 million, while four-bedroom residences start from $3.19 million.

Harbour Shores is being marketed by Colliers International.

[smartcode_project_cta:default project_id=113271]

Lewis Land opens sky home display as The Waterline completes at Harbour Shores

St Vincent de Paul Society Housing Australia has filed plans for a major mixed-use housing precinct on the southern edge of the North Sydney CBD, adding another significant proposal to a pocket around North Sydn​ey Station that is quickly becoming one of the LGA's busiest development zones.

The State Significant Development Application covers a 5,990 sqm site at <a href="https://www.apartments.com.au/new-apartments/1-19-mackenzie-street-lavender-bay-nsw-2060">1-19 MacKenzie Street and 211 Blues Point Road in Lavender Bay</a>, immediately south of Nor​th Sydney Station and between the commercial core and the lower-rise Lavender Bay Heritage Conservation Area.

Designed by Wardle, the proposal would deliver a new residential tower comprising 88 build-to-sell apartments and 19 affordable apartments, alongside a separate co-living building with 57 rooms and a building manager's studio.

It would also see the significant restoration and upgrade of St Francis Xavier Catholic Church, the adaptive reuse of the former school building, new parish facilities, retail, a new public square and around 1,000 sqm of publicly accessible open space.

<img alt="Vinnies North Sydney" data-entity-type="file" data-entity-uuid="d5dd7f87-a617-463e-b577-17541e01f0e9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.13%E2%80%AFAM.png?VersionId=4R8TsFN3P_LrrXO2HswTOIrx2blil8lh" />

The project is seeking a concurrent rezoning of the site to R4 High Density Residential and an increase in the maximum building height to allow a tower reaching RL120, or up to 20 storeys. The proposal was progressed through the NSW Government's Housing Delivery Authority pathway.

The build-to-sell component will be weighted toward larger apartments, with just six one-bedroom apartments compared with 31 two-beds, 43 three-beds and eight four-bedroom residences.

The 19 affordable apartments will comprise two studios, 15 one-bedroom apartments and two two-bedroom apartments, taking the total apartment component to 107 residences before the 58 co-living rooms are included.

<img alt="Vnnies" data-entity-type="file" data-entity-uuid="7d568ca5-cb90-4e18-96c6-d9795dba0c56" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.10.05%E2%80%AFAM.png?VersionId=GY2R5M9VtQh0EKy1vajaea19PSLOPuRD" />

Wardle's design for the Vinnies site has sought to negotiate that emerging high-rise context while retaining the lower-scale character of MacKenzie Street and the adjoining heritage conservation area.

The main building adopts a three-storey podium and tower arrangement, with the podium aligned to the ridgeline and front setback of St Francis Xavier Church.&nbsp;Wardle has designed the podium with colonnades, seating, recessed entries and active ground-floor frontages, with sandstone-toned precast concrete and face brick referencing the materiality of the existing church.

The tower then steps back eight metres to the south and six metres to the north before rising in a sculpted form comprising four interlocking quadrants. Wardle has also introduced rounded forms and chamfered corners to reduce the tower's perceived bulk and improve view sharing with neighbouring development sites.

Resident facilities and outdoor areas are planned at the separation between the podium and tower at Level 3, oriented toward Sydney Harbour and the CBD skyline.

The tower itself will feature a glass reinforced concrete facade, with recessed balconies and deep reveals used both to provide shading and privacy and frame views toward the harbour and city. The lower levels take a different architectural approach, using brick and sandstone-toned finishes intended to establish a stronger relationship with St Francis Xavier Church. The Church itself will be conserved and upgraded for its continued use, while the former school building will be adaptively reused as part of the co-living component.

<img alt="Lavendar Bay" data-entity-type="file" data-entity-uuid="2d4418ad-90aa-4d49-af93-c80b140aea80" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%209.09.47%E2%80%AFAM.png?VersionId=Kv4gzbsACaGvZSRuaqcfGC54jEJRXIDJ" />

&nbsp;

The proposal adds to an increasingly concentrated pipeline of residential development around Blue Street, MacKenzie Street and Lavender Bay.

Just west of the site, Central Element lodged plans earlier this year for one of the most significant residential developments proposed in Lavender Bay in recent years.

Central Element's SJB-designed scheme at 64-66 Lavender Street and 3-7 Middlemiss Street would deliver 163 apartments across two towers rising 23 and 32 storeys, replacing five existing apartment buildings containing 32 homes. The project also forms part of the Housing Delivery Authority pathway.

<a href="https://www.apartments.com.au/news/nsw/first-look-central-element-reveals-lavender-bay-apartment-plans?utm_source=chatgpt.com" rel="noopener" target="_blank">First look: Central Element reveals Lavender Bay apartment plans</a>

Immediately around North Sy​dney Station, another two significant proposals have emerged at 5 and 15 Blue Street.

Zurich Australian Insurance Properties is seeking to adaptively reuse its longstanding commercial building at 5 Blue Street, directly above North Sydney Station, rather than demolishing the structure.

Its SSDA proposes converting the building into a 14-storey mixed-use development with 62 apartments and 86 co-living rooms, together with ground-floor retail and a major refurbishment of Blue Street Plaza. The application is currently at the Response to Submissions stage.

<a href="https://www.apartments.com.au/news/nsw/first-look-zurich-targets-north-sydney-office-conversion-with-148-unit-proposal-above-metro-station">First look: Zurich targets North Sydney office conversion with 148-unit proposal above Metro station</a>

&nbsp;

First look: Vinnies files for 20-storey Lavender Bay apartment tower as North Sydney housing pocket heats up

When the opportunity arose for South Australian developer Palumbo to return to Kent Town, where it had previously delivered East Park Apartments and the East 
Rundle Apartments, it wasn't one the longstanding developer-builder was going to pass up.

The decision was quickly vindicated, with more than 30 apartments sold within the first month of launching <a href="https://www.apartments.com.au/new-apartments/royal-apartments-kent-town-2-8-north-terrace-kent-town-sa-5067">Royal Apartments</a> to the market.

The 206-apartment development, which will bring significant new supply to Adelaide's tightly held eastern city fringe, also gives <a href="https://www.apartments.com.au/developers/palumbo">Palumbo</a> the opportunity to bring new life to one of Kent Town's most recognisable watering holes.

[smartcode_project:default project_id=6109 project_image_fid=376073]

Royal Apartments incorporates the historic Royal Hotel, a venue Palumbo Managing Director Daniel Palumbo said has a longstanding connection with the local community.

"Everyone in the area has history with the Royal Hotel," Palumbo told Apartments.com.au.

"It was quite an active pub and social gathering place for locals. We want to bring it back to its former glory."

[smartcode_project:default project_id=6109 project_image_fid=376072]

The wider development will comprise two residential towers alongside the restored hotel, sitting on North Terrace opposite the Adelaide Park Lands.

For Palumbo, the project also marks a return to familiar territory.

The developer completed East Park Apartments next door more than a decade ago and jumped at the opportunity to develop in Kent Town again when the Royal Hotel site became available.

"The opportunity emerged, and we moved to secure the site," Palumbo said.

"We were approached by the previous landowner, who said they had extensive commitments in Sydney and weren't in a position to deliver the project.

"We took over the site and within six months recut the design scheme to be more in keeping with the type of development we want to bring to Adelaide.

"Now we're on the market and those changes have really resonated with local buyers."

That has translated into a strong start to sales, with 33 apartments transacting in the project's first 35 days.

Palumbo said the early purchaser profile had been consistent with the group's traditional focus on owner-occupiers rather than investor-led apartment stock.

"Local owner-occupiers have always been our market," he said.

"There are always some investors, but we've never developed what would be called traditional development stock. Owner-occupiers are very much our market."

[smartcode_project:default project_id=6109 project_image_fid=376068]

The buyer mix has been diverse so far, with downsizers and younger professionals both accounting for a significant portion of early sales.

South Australia's current stamp duty settings, which allow&nbsp;eligible homeowners in South Australia aged 60 savings of up to $103,830 on stamp duty when they downsize to a new property valued at up to $2 million,&nbsp;have helped encourage downsizer activity, while younger buyers in their late 20s and early 30s have been attracted to the opportunity to live immediately outside the CBD while still being able to walk into the city.



Location has been a major part of the proposition for both buyer cohorts.

[smartcode_project:default project_id=6109 project_image_fid=376075]

Royal Apartments sits on North Terrace directly opposite the Adelaide Park Lands, with residents able to walk through the parklands toward the East End, Rundle Street and Rundle Mall.

Apartments have been positioned to capture views across the parklands, Adelaide skyline, Botanic Gardens and Adelaide Hills.

Palumbo believes the scarcity of developable land along this section of the Park Lands makes the site particularly difficult to replicate.

"There's very few allotments on that side that can be developed," he said.

"If this location was in New York and you were sitting on Central Park, you'd be talking about a $60 million apartments."

Royal Apartments will offer a broad mix of residences, ranging from one-bedroom apartments through to four-bedroom sub-penthouses and penthouses.

Current listings include one-bedroom apartments from $680,000, while larger three and four-bedroom residences are priced around $2.5 million.

Residents will have access to a swimming pool, gym, barbecue and recreation areas, residents' lounge and dining space, and a communal deck.

[smartcode_project:default project_id=6109 project_image_fid=376067]

The apartments will feature generous balconies, while secure parking, bicycle storage and storage cages will also be provided.

A porte-cochère-style arrival and drop-off area has also resonated with buyers, particularly those attracted to being able to walk into the CBD during the day while retaining secure vehicle access at home.

Palumbo is acting as developer, architect and builder on Royal Apartments, continuing the vertically integrated model it has used across its South Australian portfolio.

The group was also behind the $150 million Sofitel Adelaide, the 251-room five-star hotel and residential tower which opened in 2021.

Palumbo said Royal's launch had come at an interesting time for the broader Adelaide apartment market.

Buyer confidence had initially been impacted by uncertainty surrounding the Federal Budget and broader economic conditions, but Palumbo believes sentiment is beginning to improve against a backdrop of significant investment flowing into South Australia.

He pointed to increased activity across defence and resources, including Olympic Dam, as potential long-term drivers of the state's economy and housing market.

"Money is starting to flow into Adeliade, significant amounts as Adelaide bucks the trend of the rest of the country.," Palumbo said.

"There's a lot of activity in the economy over the next decade. I think more investment will come into this market."

Early works on Royal Apartments are expected to commence this year, with major construction activity and cranes anticipated on site from early next year.

[smartcode_project_cta:default project_id=6109]

Palumbo's return to Kent Town strikes early chord with buyers

Go-to builder-developer <a href="https://www.apartments.com.au/developers/graya">GRAYA</a> is continuing to bulk out its already impressive and diverse apartment portfolio across South East Queensland. Their latest milestone is securing development approval for Silk, its boutique riverfront apartment development in St Lucia.

The approval clears&nbsp;the way for the team to begin construction planning for the 22-residence project.

<a href="https://www.apartments.com.au/new-apartments/silk-st-lucia-16-18-sandford-street-st-lucia-qld-4067">Silk</a> will rise 15 levels from an 810 sqm site at 16-18 Sandford Street, occupying a prominent bend of the Brisbane River with a prized northern aspect across Orleigh Park toward the Brisbane CBD.

The approved scheme will comprise 16 split-floor and six full-floor residences, continuing GRAYA's move into larger-format apartment developments targeting Brisbane's prestige owner-occupier market.

The project has been designed around the site's broad river frontage and dual-direction views, with GRAYA prioritising larger residences, privacy and outlook over apartment yield.

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="aa5c2349-f96c-4914-a812-1f2cd6827af8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.44%E2%80%AFAM.png?VersionId=WY0vEU_7vYjeRJKQHiCwFdMxu8PvFh52" />

GRAYA Co-founder and Chief Executive Officer Rob Gray said the project had been shaped around local homeowners wanting to remain in St Lucia without maintaining a traditional family home.

"St Lucia is one of those suburbs people do not want to leave," Gray said.

"They know the river, the trees, UQ, the golf course, Toowong and Indooroopilly, and that familiarity is hard to replace.

"True riverfront opportunities here are exceptionally scarce. What we have designed at Silk is a way to stay in the suburb people love, with the scale and privacy of a private home and far less to maintain.

"This is not typical apartment product. It is a proper home on the river, and that is exactly what this market has been missing."

The approval comes as new apartment development continues to increase across the St Lucia and neighbouring Toowong corridor, although direct riverfront sites remain considerably more tightly held.

GRAYA Co-founder and Managing Director Andrew Gray said securing the approval had removed a significant element of development risk from Silk.

"Genuine riverfront sites of this quality in St Lucia are not something that comes up regularly," Gray said.

"The approval removes a substantial layer of execution risk, and the location underwrites demand in a way very few inner-city sites can.

"The fundamentals here are as strong as anything we have assessed in Brisbane."

<img alt="Silk St Lucia" data-entity-type="file" data-entity-uuid="d0f3d734-65e1-48e8-8ed3-2e0715ffcdd9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-26%20at%208.25.56%E2%80%AFAM.png?VersionId=sOLSs_jdHkXLWbBKzRyayf5BfTb2vPsD" />

Silk will see GRAYA return to a stretch of the Brisbane River where it already has recent construction experience. The vertically integrated group recently completed ARC in neighbouring Toowong as builder for developer Spyre, delivering the riverfront project on a constrained site.

GRAYA will take a different role at Silk, controlling the project from design and development through construction and aftercare under its vertically integrated model.

The development will include a gym and resident leisure areas at ground level, integrated with the river's edge.

Silk joins a growing pipeline for GRAYA across Brisbane and the Gold Coast, which includes Enclave, The Gallery, Coral and Ripple.

The developer-builder has also recently lodged plans for its largest project to date, <a href="https://www.apartments.com.au/new-apartments/the-silo-19-chester-street-newstead-qld-4006">The Silo</a>, a proposed <a href="https://www.apartments.com.au/news/qld/graya-buys-frasers-newstead-site-plans-the-silo-between-james-street-and-gasworks-precincts">$700 million mixed-use development</a> in Brisbane's James Street precinct.

Silk is expected to predominantly target local owner-occupiers and prestige buyers seeking a permanent riverfront home in Brisbane's inner west.

Registrations of interest are now open, with further details on the project and construction program to be released as it progresses.

<hr />
<h2>SILK PROJECT FACTS</h2>

Developer-builder: GRAYA

Project: Silk

Location: 16-18 Sandford Street, St Lucia

Apartments: 22

Built form: 15 levels

Site: 810 sqm riverfront holding

Mix: 16 split-floor and six full-floor residences

Status: Development approved

Next step: Construction planning underway

[smartcode_project_cta:default project_id=152168]

GRAYA greenlit for riverfront St Lucia apartment development, Silk

Property Prices

<html><body>
EXPERT OBSERVER 
January is a typically quiet month for the housing market and the latest data indicates this fact with most capital cities seeing minimal changes in property prices over the month. In fact, all capital cities recorded a monthly change in prices of between -0.1% and +0.1% except for Hobart, which recorded a +0.4% increase.
Despite the pause in price changes over the past month, prices have recorded moderate increases over the past three months in Sydney, Melbourne, Brisbane, Hobart and Canberra, while prices were unchanged in Adelaide and have recorded slight falls in Perth and Darwin.
Overall, the broad trend in which property prices have been increasing at a steady pace since May 2019 continues and we will get a better indication of the market momentum over the coming months as transaction activity lifts.
The market remains in the situation whereby an increasing number of people are visiting realestate.com.au looking for properties, but there remains a dearth of housing stock being listed for sale. The good news is that new listings appear to have increased dramatically in January 2020; however, they generally remain much lower than they were a year ago.
Over the next few months, what happens with listings will be key for the housing market. I would suspect that given prices have been rising since May 2019, there is now enough evidence for homeowners to have confidence to list their properties for sale and we will see a substantial rise in new listings over the coming months.
Depending on the magnitude of any increase in supply of stock for sale, this could lead to a slowing of price growth as some of the urgency to purchase is removed from the market.
January 2020 has also seen the commencement of the Federal Government’s First Home Loan Deposit Scheme. The scheme, which allows first home buyers within certain income ranges buying properties up to certain price points to buy with as little as a 5% deposit and avoid LMI, has seemingly been very popular.
The scheme was set to have 10,000 places available between January 2020 and June 2020 with another 10,000 spaces made available next year. In the first month of operation, 5,486 of the 10,000 spaces were taken. At the time of announcing the scheme, Prime Minister Scott Morrison said that if demand was sufficient, more spaces will be made available; it will be interesting to see whether that happens.
Building approvals data indicates that the decline in new approvals may have found a floor. The latest data for December 2019 found approvals fell -0.2% over the month; however, they are now 13.7% higher than their recent low.
Housing finance data shows that demand for mortgages is continuing to climb with owner-occupiers and first home buyers the main drivers of this growth; however, there has also been a moderate lift in lending to investors.
The latest data to November 2019 shows that owner-occupier housing finance commitments have increased by 20.5% from their May 2019 lows and investor commitments are up 10.9% over the same timeframe. Mortgage demand from first home buyers was lifting prior to May 2019, with the monthly value of lending up 30.1% from its recent low in January 2019.
While there has been some improvement in mortgage demand, there hasn’t been an equally significant rise in retail trade. The latest data to December 2019 showed retail trade fell -0.55% over the month; however, that was following a 1.0% increase in November thanks to Black Friday sales.
Over the final quarter of 2019, retail trade increased 0.6% compared to 0.7% over the previous quarter. The year-on-year change in retail trade was 2.7% in December 2019.
The national unemployment rate was recorded at 5.1% in December 2019. Unemployment has been trending lower and the 5.1% in December 2019 was the lowest rate since March 2019.
While unemployment is falling, the participation rate remains at near-record highs; however, the rate of employment growth has slowed slightly compared to 2018, and part-time employment growth remains much greater than growth in full-time employment.
At their February board meeting, the Reserve Bank Board decided to keep official interest rates on hold at 0.75%. The RBA made note of the three 25 basis-point cuts over the past year and the fact that cuts can have a long and variable lag before they impact the economy.
They noted that an extended period of low interest rates will be required in order to hit their inflation and employment targets. They also noted that they are prepared to ease monetary policy further should it be required to support sustainable economic growth, full employment and the achievement of their inflation target.
Over the few coming months, I would expect that property prices will continue to increase at a moderate pace across most capital cities. Sydney, Melbourne and Hobart will likely continue to see stronger growth than elsewhere. I would also expect search activity on realestate.com.au to continue to climb as people get into the swing of 2020 and get more serious about buying a new home.
The wild card remains what will happen with property listings. While I would expect the number of property listings to show a meaningful lift over the coming months, it will be important to watch (assuming this occurs) how the supply of housing stock for sale matches with the demand for housing.
If they are in relative equilibrium it could lead to slower price growth going forward; if it remains insufficient in comparison to demand, then price growth may accelerate further over the coming month.
CAMERON KUSHER is the Director of Economic Research for the REA Group
</body></html>

ckusher-ujnxiKuFQs

January brings a short pause amid continued property price growth: Cameron Kusher

<html><body>
Despite the continued resurgence in the property market, capital city residential prices dropped 0.7 per cent over the June quarter, according to figures released by the ABS.
It's considerably less than the three per cent declines seen in the March quarter. Every capital city had recorded price declines.
Sydney and Melbourne had been the biggest drivers over the March quarter, but this time it was Darwin (-1.8 per cent) and Perth (-1.4 per cent) leading the declines given the Sydney and Melbourne resurgence.
Melbourne (-0.8 per cent) was the third worst performing capital over the June quarter, followed by Brisbane (-0.7 per cent) then Adelaide (-0.6 per cent).
Sydney saw declines of -0.5 per cent, a considerable bounce back from its -3.9 per cent declines over the March quarter.
ABS chief economist Bruce Hockman said the falls in Melbourne were driven by detached dwellings, while attached dwellings drove the fall in Sydney.
To enlarge the capital city June quarter performance, <a href="https://www.propertyobserver.com.au/images/2019/9/17/Capital%20City%20June%20Quarter%20House%20Prices%20ABS.jpg" target="_blank">click here.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/17/Capital%20City%20June%20Quarter%20House%20Prices%20ABS.jpg" alt="">
"Sydney and Melbourne housing markets have seen residential property price falls moderate this quarter," Hockman said.
"A number of housing market indicators, such as auction volumes and clearance rates, have begun to show signs of improvement, though they remain below the levels seen one year earlier".
Hobart (+0.5 per cent) and Canberra (+0.2 per cent) were the only capitals to record price growth over the June quarter.
Through the year, residential property prices fell 7.4 per cent to the June quarter 2019.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/9/17/ABS%20quarterly%20change.jpg" alt="">
Prices fell 9.6 per cent in Sydney and 9.3 per cent in Melbourne.
Hobart (+2.0 per cent) was the only capital city to record positive through the year growth.
The REIA recently suggested the <a href="/news/market-hit-the-bottom-in-the-june-quarter-reia">market hit the bottom</a> over the June quarter.
 
 
 
 
</body></html>

jrobinson-rf4aSBido9

Property price falls slow, but 0.7 per cent declines felt in June quarter: ABS

<html><body>
Wayne Byres, chairman of the Australian Prudential Regulation Authority (APRA), has said financial stability risks from very cheap debt overload and high-cost housing were still present in the economy.
Amid signs of a property recovery in the Melbourne and Sydney property markets, Byres said the market was at an "interesting juncture".
"The downward adjustment in prices has occurred in an orderly fashion and been positive for stability," he said in a speech in Melbourne.
"However, it is worth remembering that the original risks we were concerned about in 2014 - high prices, high debt, low interest rates and subdued income growth - have not gone away, and in some cases increased."
He noted the downward adjustment in prices has occurred in an orderly fashion and been positive for stability.
"It would be unhelpful if recent (and prospective) interest rate reductions led to a resurgence in speculative activity," he said. 
Byres said he did not want banks to cut their credit standards as a way to fire up loan growth.
"When it comes to the supply of credit, it would therefore be unwise for lending standards to be allowed to erode again as a means of generating lending growth. And on the demand side, it would be unhelpful if recent (and prospective) interest rate reductions led to a resurgence in speculative activity," he said.
"Financial stability doesn’t happen by chance," he noted.
Earlier this month, CoreLogic reported Melbourne house prices rose 1.3 per cent in August, while Sydney prices rose 1.5 per cent. National housing prices were up 0.8 per cent in the same month, the first increase since October 2017.
Byres' speech also noted the squeeze on bank profits.
It arose from low interest rates as lenders offset the decline in their lending rates through their deposit portfolios.
Byres said smaller banks, which have a higher reliance on deposit funding, could feel the hit on their profits "more forcefully" than large banks.
He indicated it could affect competition in the market.
"All four Australian major banks enjoy AA credit ratings, and ready access to funding; very few European banks (without explicit government support) enjoy similar ratings
"In 2018, a decade after the crisis, the four Australian majors were ranked in the top 35 banks in the world by market capitalisation.
"Europe, despite a much larger banking system and population, only had four banks in the top 35.
"The return on equity (RoE) of the Australian major banks has certainly declined but has not fallen below 10 per cent, even during the GFC, and is now in the order of 12 per cent; for large global European banks, RoE was negative at the height of the crisis, and has struggled to get much above 5 per cent since then."
</body></html>

j.ballantyne1990-6AQqhLzZaK

APRA's Wayne Byres warns of high debt and rising property prices

<html><body>
Property values are set to rise by August 2020 across the nation, according to Finder, Australia’s most visited comparison site.  
In the latest <a href="https://www.finder.com.au/" target="_blank">Finder</a> RBA Cash Rate Survey™ experts and economists gave their forecasts on 12-month change of property prices in Australia’s capital cities.
The experts, on average, now anticipate the property market will be on the way up over the next year.
Graham Cooke, insights manager at Finder, said it’s too soon to tell if this is an emerging recovery in the housing market or merely a ‘dead-cat bounce’.
“Most economists surveyed foresee small levels of growth across the board, but a few tipped prices to tumble, especially in Sydney and Melbourne where one expert predicted a 7% drop."
“Whether you see this as a falling feline or the beginning of a true rebound, it’s clear that the full effects of the RBA’s recent cuts have yet to play out."
<img src="https://www.urban.com.au/images/2019/8/6/Finder%20-%20August%206%20-%203.JPG" alt="">
“However, after one of the strongest weekend clearance rates in Sydney in recent months (71%), there is definitely a detectable pulse,” Cooke said.
Canberra came out on top with a 2.27% predicted growth on average, followed by Hobart (2.19%) and Brisbane (1.81%). Cooke said those considering getting on the property ladder need to get their ducks in a row. “Prospective first time buyers should look at arranging <a id="LPlnk812745" href="https://finder.us9.list-manage.com/track/click?u=cc5e9bce699fa1d71a67cf499&amp;id=5f88598f50&amp;e=f2176dbcf8" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">pre-approval</a> for finance soon if they want to take advantage of low rates before prices increase.” With rates at an all-time low, the Reserve Bank of Australia (RBA) held the cash rate at 1.00% for the first time in three months.  Nearly all (96%, 44/46) experts surveyed predicted the hold, although up to two more cuts are likely by the end of the year. 
<img src="https://www.urban.com.au/images/2019/8/6/Finder%20-%20August%206%20-%204.JPG" alt="">
Cooke said people might be missing a trick by not considering a fixed-rate loan. “We’ve seen a lot of very low fixed-rate offers hitting the market of late, some as low as 2.79%. " “Fixed rates may be well worth considering – as we’ve never seen rates this low – but the best path may be a <a id="LPlnk383356" href="https://finder.us9.list-manage.com/track/click?u=cc5e9bce699fa1d71a67cf499&amp;id=aaf3510eb8&amp;e=f2176dbcf8" target="_blank" data-auth="NotApplicable">split loan</a>." “Think of this as the best of both worlds: if rates drop you get some of the benefits and if they increase you only get part of the pain." “Even if you’ve been on a variable loan for five years, it’s not too early to refinance with rates at a record low,” Cooke concluded.
<img src="https://www.urban.com.au/images/2019/8/6/Finder%20-%20August%206%20-%205.JPG" alt="">
</body></html>

Experts tip property prices to rise in every capital city: Finder

<html><body>
Residential property prices fell an average of 3% across all eight capital cities in the March quarter, according to the Australian Bureau of Statistics.
It was up from the 2.4% property price decline in the previous three months of 5.4%.
Every capital city saw falls in property prices, with Sydney posting the sharpest fall of 3.9%, and Melbourne at 3.8%, the report said.
In Adelaide, property prices fell 0.2%, and in Hobart, prices dropped 0.4%, making for the first property price falls in the two state capitals in at least six years.
In Darwin, residential property prices fell 1.8%, and in Brisbane, they dropped 1.5%.
That was followed by a 1.1% decline in Perth, while in Canberra prices retreated 0.9%, the ABS said.
</body></html>

Every capital city saw residential property prices fall in March quarter: ABS

<html><body>
Immigration increases house prices, but that effect is reduced if a population views new migrants negatively, according to a world-first analysis from Deakin University.
The Deakin Business School study, <a id="LPlnk86101" href="http://icm-tracking.meltwater.com/link.php?DynEngagement=true&amp;H=FcQ5do3Mtm%2F2JnP%2FxXFcY%2BL9mOkU%2Fad4G7kfqxVfSdkEEq1vNf2gy223dpxStDrOzS022pZho9BLBEis%2FGvpUGMgg3AkCNJaGd8RDr0EBFADdtnwPzZ5Bw0vwFcWND0w6IwjcZm%2FFGI%3D&amp;G=0&amp;R=https%3A%2F%2Fwww.sciencedirect.com%2Fscience%2Farticle%2Fpii%2FS1051137718302481&amp;I=20190703032605.000004826056%40mail6-41-usnbn1&amp;X=MHwxMDQ2NzU4OjVkMWMxZTQ2YjA1ZjM5NTQ1MjYyMzQ3Mjs%3D&amp;S=Wq3LopswqhzfOS2z3SUikMwHJdf_zWOc0nAhISK0A3Q" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">recently published in the Journal of Housing Economics</a>, is the first comprehensive statistical review of the global evidence to evaluate how attitudes to immigration affect house prices.
It found that while house prices increase in line with increases to immigration that effect diminishes in countries less welcoming to the newcomers.
Alfred Deakin Professor of Economics Chris Doucouliagos, co-director of the Deakin Lab for the Meta-Analysis of Research (DeLMAR), said the global stock of immigrants had more than tripled between 1960 and 2015, from 72 million to 243 million.
“The sharp rise in international immigration is a pressing social and economic issue,” Professor Doucouliagos said.
“Our analysis is especially timely against the backdrop of a worldwide spread of populist and nationalist politics and the rising need to provide adequate housing for dislocated populations and affordable housing for younger generations.
“So we wanted to know if immigration does affect house prices. But also the impact of deep-seated attitudes towards immigration. Specifically whether the attitudes of locals towards immigrants moderates the impact of immigration.”
The meta-analysis looked at 474 estimates of immigration’s impact on house prices in 14 different destination countries, including Australia, Canada, New Zealand, the UK and the USA.
“We found that immigration increases house prices in the aggregate. However using data from the World Values Survey, we show that attitudes to immigrants moderates this effect,” Professor Doucouliagos said.
“In countries where locals dislike living next-door to immigrants, for instance, immigration has a smaller effect on house prices, although we find no evidence that house prices sink as a result of immigration.”
<table border="1" cellspacing="0" cellpadding="0" align="left"><tbody>
<tr>
<td valign="top">
Country
</td>
<td valign="top">
Percentage not in favour of immigrant neighbours
</td>
<td valign="top">
Immigrants as percentage of 2015 population
</td>
<td valign="top">
House price change in decade to 2015
</td>
</tr>
<tr>
<td valign="top">
Australia
</td>
<td valign="top">
10.5%
</td>
<td valign="top">
28.22%
</td>
<td valign="top">
+37.35
</td>
</tr>
<tr>
<td valign="top">
Canada
</td>
<td valign="top">
4.1%
</td>
<td valign="top">
21.8%
</td>
<td valign="top">
+43.66%
</td>
</tr>
<tr>
<td valign="top">
UK
</td>
<td valign="top">
14.2%
</td>
<td valign="top">
13.2%
</td>
<td valign="top">
+0.51%
</td>
</tr>
<tr>
<td valign="top">
USA
</td>
<td valign="top">
13.6%
</td>
<td valign="top">
14.49%
</td>
<td valign="top">
-23.52%
</td>
</tr>
<tr>
<td valign="top">
New Zealand
</td>
<td valign="top">
5.9%
</td>
<td valign="top">
22.96%
</td>
<td valign="top">
+29.41
</td>
</tr>
</tbody></table>
 
 
Data on attitudes to immigrants are regularly collected from the World Values Survey. Specifically, Professor Doucouliagos and his colleagues looked at the question: ‘On this list are various groups of people. Could you please mention any that you would not like to have as neighbours?’
They then looked at the percentage of people from each country included in the meta-analysis who responded ‘Immigrants/foreign workers’.
“For example in the UK, immigration has had a non-significant effect on house prices, but our analysis suggests that may be in part because of negative attitudes towards immigrants,” Professor Doucouliagos said.
“We see the same effect in Australia, and this goes against the theory that increased immigration means higher house prices.
“Immigration increases the demand for housing and rental accommodation, but it might also affect amenities and the perceived desirability of the neighbourhoods most affected.”
Researchers also carried out a ‘counterfactual analysis’ to look at what might happen to house prices if attitudes to immigrants softened to similar levels of the most accepting sample country.
They found immigration would then increase house prices in most countries.
“Our findings are also consistent with other research that people like living near their kin and this motivates where they choose to buy or rent,” Professor Doucouliagos said.
“The tendency of new immigrants to live in the same areas as previous generations of immigrants, combined with a disinclination for local residents with negative attitudes towards immigration to reside near immigrants, lessens the relationship between immigration and house prices.”
</body></html>

Negative attitudes to immigrants tempers house price increases: Deakin University

<html><body>
Darwin's house prices have been falling for five years and are now 24.1% down from their 2013 peak, according to Domain's latest House Price Report.
The report found, Darwin house prices fell 0.4 per cent over the quarter and 8.7 per cent over the year to $514,876.
Unit prices fell 0.3 per cent over the quarter and 13 per cent over the year to $321,990.
<a href="https://www.propertyobserver.com.au/Darwin's%20house%20prices%20have%20been%20falling%20for%20five%20years%20and%20are%20now%2024.1%%20from%20their%202013%20peak," target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></a>
Domain Senior Research Analyst, Dr Nicola Powell said, “Darwin's housing market has been challenged in recent years."
"A recovery in Darwin’s housing market largely hinges on the government’s attempts at boosting the population, jobs growth and an improvement in the availability of housing credit,” she concluded.
<img src="https://www.urban.com.au/images/2019/1/23/Domain%20Q4%20Dar.jpeg" alt="">
</body></html>

Darwin house prices down 24 per cent from 2013 price peak: Domain

<html><body>
Perth house prices are now 11% below the peak price they achieved five years ago, according to Domain's latest House Price Report.
However, despite the price falls, underlying demand is rising with the number of views per listing on Domain recording the largest lift of all the Australian capital cities.
Perth house prices were flat over the quarter but fell 3.3% over the year to $546,281.
Perth unit prices fell 3.1% over the quarter and 2.9% over the year to $351,818.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></a>
Domain Senior Research Analyst, Dr Nicola Powell said: "The early signs of Perth’s housing recovery appeared to have faded by the end of 2018. House and unit prices continue to moderate. House prices are now 11% below the peak price achieved almost five years ago.”
"It’s clear that the more restrictive flow of housing finance is hindering housing activity.”
“The foreign buyer surcharge on residential properties introduced in 2019 could also hinder Perth’s housing recovery, keeping overseas residents in rental accommodation rather than purchasing. A tighter rental market and improved population flows suggests the bottom of Perth's housing market is near. However, a true recovery would be dependent on increased credit availability.”<img src="https://www.urban.com.au/images/2019/1/23/Domain%20Q4%20Per.jpeg" alt="" style="font-size: 12.16px;">
</body></html>

Perth house prices down 11% from their five year peak: Domain

<html><body>
If the current level of price growth in Hobart continues it could lose its title as most affordable capital city to purchase a house to Adelaide and Darwin, according to Domain's latest House Price Report.
The report found Hobart house prices have had a record period of growth, rising for 11 consecutive quarters.
Hobart House prices grew 2.7% over the quarter and 8.8% over the year to $479,685.
Unit prices fell 2.6% over the quarter and 3.5% over the year to $342,796.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></a>
Domain Senior Research Analyst, Dr Nicola Powell said: “Despite strong growth Hobart remains Australia’s most affordable capital city to purchase a house. Population fueled demand has outstripped supply, resulting in two years of double-digit growth.
“Hobart continues to be the standout performer for capital gains, bucking the national downward trend. However, even though the city continues to record growth, the pace has slowed from the peak rate of growth recorded at the end of 2017 and early in 2018.”
<img src="https://www.urban.com.au/images/2019/1/23/Domain%20Q4%20Hob.jpeg" alt="">
</body></html>

Hobart may soon lose its status as most affordable capital city: Domain

<html><body>
The number one spot for low median unit values is Newman in the East Pilbara council region, according to the CoreLogic end of year report.
Around 24 units were sold in the region at a median price of $96,274 during the past year.
South Hedland ($99,878) and Port Hedland ($127,892) were placed second and third in terms of lowest median unit values across Australia.
These regions sold 65 and 55 units respectively.
<img src="https://www.urban.com.au/images/2018/12/20/WA%20Low%20Value.JPG" alt="">
An example of the price point being present in WA was 6/15 Mindarra Drive, Newman (pictured above).
The one bedroom one bathroom unit was sold in November this year for $109,000.
Last sold for 575,000 in 2013 this shows a $456,000 decrease in price over the past 5 years.
Located close to the Newman CBD, School and Shire Pool the property is also near Newman hospital.
The unit was most recently listed for rent in 2017 at $225 per week down $450 from $750 per week in 2014.
<img src="https://www.urban.com.au/images/2018/12/20/Newman%202.JPG" alt="">
Another example of this price point is a block of 12 units 11 of which have sold this year at 6 Arika Place, Newman.
They sold for prices ranging from $65,000 to $122,500.
11/6 Arika Place (pictured above) was listed as a rental on December 18 for $230 per week.
</body></html>

Property Prices

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Property Prices

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News