Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

[smartcode_project:default project_id=135096 project_image_fid=356818]

After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

[smartcode_project:default project_id=5743 project_image_fid=925]

Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

[smartcode_project:default project_id=5743 project_image_fid=5374]

The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Property Prices

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A new report by market analyst BIS Shrapnel is predicting that property prices in most national capitals will fall over the next few years.
Not by much in Sydney and Melbourne, but Perth and Darwin aren't looking pretty.
Brisbane, Canberra and Hobart will escape the fall.
A lower population growth, increased apartment supply, a weakening economy and lack of affordability will offset the impact of lower interest rates and investor demand.
Hardest hit will be apartments, particularly in large apartment complexes, due to a record 220,000 new dwellings to be started this financial year.  
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<div>
"As these dwellings reach completion, all states with the exception of NSW will have moved into over-supply, or be experiencing an increasing over-supply," said the report's author Angie Zigomanis.
"Rising supply and weakening investor demand will play an increasing role in the price outlook of Australia's capital cities over the next three years,"  said Angie Zigomanis, the chief of BIS Shrapnel's residential research unit.
Sydney is expected to be 1 per cent lower in 2019, or a real decline of 9 per cent over the period after taking account of inflation.
Melbourne is expected to be 1 per cent lower in three years, or a real decline of 8 per cent.
House and apartment prices are expected to fall in real terms in five of the nation's eight capitals with Perth forecast to slump by 23 per cent.
Darwin will continue struggling to recover from the collapse following the end of the mining boom.
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Zigomanis, a senior manager, said 2016-17 will remain "relatively stable" but underlying pressures of oversupply, falling overseas demand and affordability will begin to erode gains.
He predicts a cyclical downturn that will take until the end of the decade to recover, assuming broader economic recovery to revive the property sector.
BIS Shrapnel senior manager and study author, Mr Angie Zigomanis, said the rate of price growth in Sydney and Melbourne has slowed in 2015/16.
"Investor demand has been a key driver of the upturn in both markets and moves by the regulator to slow growth in bank lending to investors have seen investors retreat.
"At the same time, dwelling completions are rising to record levels and the increasing supply/demand imbalance will increasingly dampen price growth.
"In particular, the boom in apartment construction over the last couple of years is creating a disconnect in the supply balance between detached houses and units, with a resulting difference in their price outlook.
“In fact, nearly all capital cities are building apartments at record rates on the back of the recent strength in investor demand,” said Zigomanis.
“As these projects are progressively completed, it is likely that there will not be enough tenants in a number of cities to support rents and consequently values upon completion."
The report noted national population growth in 2014/15 was at its second lowest level since 2005/06, with net overseas migration falling from 229,400 persons in 2011/12, to 176,500 persons in 2014/15 – although there have been wide variations across the states. 
"Meanwhile, the change in gears from resource investment to domestic demand driving the economy continues to be slow and economic growth nationally is muted.
"Without a substantial acceleration in economic conditions, employment and income growth will also be slow. Even in the stronger growing states of New South Wales and Victoria, there is further limited upside to prices."
The best prospects for median house price growth over the next three years are forecast to be in the Brisbane and Hobart markets, followed by Canberra. 
Interest rates are expected to remain low enough to provide some support to prices as investors should be able to meet their mortgage repayments despite potentially having to discount rents to attract tenants.
"Consequently, owners will be able to hold their properties through this weaker period with few forced sales likely to be taking place to create significant downward pressure on prices," the report noted.
 
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jonathanchancellor-7SQnKwU6yx

BIS Shrapnel sees property price falls ahead

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Melbourne houses are now at market peak, according to the HTW June 2016 property clock.
Melbourne joins NSW's Central Coast, Dubbo and Newcastle also deemed at their peak.
Melbourne was approaching the peak last month, according to the valuation firm, Herron Todd White.
Bundaberg and Townsville in Queensland are placed at the bottom of the property cycle.
<a href="/images/2016/06/09/Screen%20Shot%202016-06-09%20at%202.40.30%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/06/09/Screen%20Shot%202016-06-09%20at%202.40.30%20PM.png" alt="" width="841" height="531">
 
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Melbourne houses now at market peak: HTW June property clock

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Generalisations about property markets are a major source of misleading information for investors.
The worst examples usually emanate from economists who speak about “the Australian property market” as a single homogenous entity. 
A statement such as “Australian house prices rose 7 percent last year” implies there was 7 percent growth across the nation, when it reality there were a few locations with double-digit growth, some with minor movement, many where prices hardly moved at all and others where prices went backwards, in some cases a lot.
We’ve had three years of empty rhetoric about property prices “soaring” and bubbles emerging, all based on a long-overdue revival of the Sydney market and action in some parts of Melbourne.
Even speaking about what happened or will happen to prices in a single major city is too much generalization to be of any use to buyers and sellers.
The entity described as “the Sydney property market” is a place with over 700 suburbs, with markets ranging from $370,000 units in Liverpool to $900,000 houses in Rouse Hill to top-end locations like Mosman where the median house price is $3 million.
Distilling all of that and more into a statement such as “Sydney property prices rose 3.6 percent in May” is the hallmark of lazy, incompetent analysts whose primary interest is publicity rather than being useful to consumers.
A study of the latest Market Monitor from the Real Estate Institute of Queensland provides plenty of evidence that generalised single-figure numbers to describe a large city are both pointless and misleading.
The report finds that the median house price in the Brisbane City LGA rose 6.1 percent in the past year. That’s the figure that 99% of media would report, indicating that Brisbane has a solid market but one that isn’t booming the way Sydney did until recently.
But Market Monitor delves deeper and provides figures for individual suburbs, revealing there are plenty of places which did a lot better than the generalised figure and a few where median prices were in reverse.
Middle ring areas in the Brisbane Southside precinct did well in the past year, including Coorparoo (up 11 percent), Holland Park West (up 12 percent), Macgregor (up 17 percent), Sunnybank Hills (up 12 percent), Eight Mile Plains (up 10 percent), Mansfield (up 11 percent), Wishart (up 15 percent) and Robertson (up almost 20 percent).
Similar areas on Brisbane City’s Northside have also out-performed, including Banyo (up 17 percent), Grange (up 16 percent), Hendra (up 13 percent), Wooloowin (up 16 percent), Sandgate (up 17%) and Mitchelton (up 11 percent).
In contrast, there is evidence of falling values in upmarket areas like Hamilton, Ascot, St Lucia, Teneriffe and Hawthorne, all suburbs with median house prices above $1 million. But the median price for New Farm (median house price $1.5 million) is up 15 percent.
The report also shows the impact of over-building of inner-city apartments, with the median unit price down 1.4 percent in the CBD, down 4.5 percent in Fortitude Valley and down 1.7 percent in West End. Median weekly rents have fallen in the past year in several of the inner-city unit markets, according to the REIQ data.
Heading south to the Logan City part of Greater Brisbane, the generalised figure indicates the median house price has risen only 4 percent in 12 months. But suburbs with annual growth above 8 percent include Browns Plains, Heritage Park, Loganlea, Waterford and Waterford West. Logan Central, Forestdale and Woodridge all had annual growth in the 13-15% range.
Logan City’s opposite number in Brisbane’s far north is the Moreton Bay Region, which has emerged recently as the No.1 rising market in the metropolitan area. Most suburbs in this LGA have median house prices in the $300,000s and $400,000s – and affordability is a major driver here. 
The generalised figure says house prices have risen 5% in 12 months, but many suburbs have done better, including Albany Creek, Banksia Beach, Bongaree, Burpengary East, Caboolture, Clontarf, Ferny Hills, Narangba, Toorbul, Warner and Woody Point - all of which recorded annual growth between 8 percent and 12 percent. Upmarket Newport on the Redcliffe Peninsula also grew 12 percent.
On the Gold Coast, house prices rose 5.8 percent on average, but there are 20 residential suburbs with growth between 10 percent and 20 percent.
By contrast, the apartment market is under-performing, with the median unit price in Surfers Paradise largely unchanged, while the medians for Broadbeach, Labrador and Mermaid Beach all dropped 5 percent in the past 12 months.
Surfers Paradise, Broadbeach and Mermaid Beach all have median unit prices considerably lower than five years ago, while Labrador and Southport are unchanged.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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terryryder-YECXbqmri2

Three years of empty rhetoric about property prices “soaring": Terry Ryder

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GUEST OBSERVER
With plenty of hype around US property agent Jonathan Tepper’s predictions that Australian property prices will fall by 50 percent, here are ten reasons I think the Aussie property bubble won’t burst. 
1. Australia has high credit quality
Australia and the US are two completely different markets. Australia has higher quality home loans thanks to stricter lending criteria and requirements, which means borrowers who are approved for loans can generally afford to service them. In contrast, banks in the US at the time of the GFC were lending to people who hadn’t provided paperwork and couldn’t service the loan – a recipe for disaster.
2. Not as many foreclosures
Borrowers in the US weren’t required to stump up a deposit to get a mortgage. To make matters worse, banks had no recourse so a borrower could walk away from a property without being sued. In contrast, Australians can no longer borrow 100% of the property value, and lenders can seek financial retribution if a borrower defaults. Australian borrowers are therefore less likely to default on their home loan, resulting in fewer foreclosures.
3. You need to compare apples with apples
A major problem with Tepper’s examples is that he was talking about the US as a whole and not comparing apples with apples. We need to compare prominent cities with other prominent cities, like Sydney with New York, which didn’t have much of a collapse during the GFC. No one would compare Logan in Queensland with Manhattan, would they? It just doesn’t make sense.
4. Financial bodies are closely monitoring the market
Down under, the Australian Prudential Regulation Authority is keeping a close eye on the market and responding swiftly. For example, last year when APRA found there were too many investors driving up the Australian property market, it brought in new regulations that required lenders to reduce their investor loan books. The banks responded quickly and as a result we haven’t seen a major drop in the property market.
5. We have a strong employment market
For a 40-50% property collapse to occur, there need to be massive job losses and foreclosures – but we are seeing the opposite in Australia, as unemployment has dropped to around 6%.
6. There’s a limited amount of land available
The US is covered coast to coast with property, whereas in Australia we are restricted to areas around the coast where there is water and amenities, so we have a limited amount of properties available. We also have record migration at the moment, which will underpin prices for land.
7. Continued property demand from foreign investors
The Australian market is also being propped up by continued investment by overseas buyers from countries like China.
8. The market is similar to 2003
If you compare the percentage of disposable income today to what it was in 2003, it is somewhat similar. Back then, the RBA increased the official cash rate and prices slowed down. However, prices still moved along with inflation – they didn’t drop. So we’ve seen this happen before and we are just as leveraged now as we were then.
9. The RBA has room to move
The good news is today the Reserve Bank of Australia still has 2% to play with, so if the market did start to collapse the RBA could push the official cash rate to 0%, which would help homeowners get through the tough period financially.
10. We have negative gearing
The US didn’t have negative gearing when the GFC occurred – and still doesn’t today. But tax benefits Down Under drive behaviour as many investors are willing to lose a portion of their wages for the benefit of capital gains and bringing down their taxable income. Even if negative gearing concessions were to be slashed, property prices are unlikely to drop by 50%.
So where will the Australian property market go?
Property clearance rates are improving from last year despite predictions the market would keep dropping, so I’m still tipping prices will go up by 3-4% and will keep up with inflation. 
Watch this space…
STEVE JOVCEVSKI is a property investment and home loan negotiator at <a href="https://mozo.com.au/" target="_blank">Mozo.com.au</a>.
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jchancellor-FAypfDUnLy

Ten reasons the property bubble isn't going to burst: Mozo's Steve Jovcevski

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Almost everyday there's a new contradictory report backed up with data and opinion on Sydney's anticipated price direction. Who to believe? The spoiler or spruiker? What to do with your life?
The likelihood is no-one really knows, especially given the negative gearing doubt, but owner occupiers should thoughtfully proceed with caution in this low interest rate environment, while investors will continue t weight up their chase for yield without emotion.
Estate agent John McGrath recently advised that at the end of housing booms, buyers can get a bit obsessed with timing.
"They often hold off believing (or rather, hoping) prices will fall and this delays their purchase," he said, suggesting it comes at a potential cost.
He says after being in the game for 32 years that buying the best property you can afford, when you can afford it; and holding it for the long term is always the best play.
"Believe me, time in the market is much more important than timing the market when you buy," he suggested.
True, but overpay and then sell during the dips Sydney has periodically recorded in recent years, and it's a costly loss. 
Recently $2.62 million secured a Woollahra terrace that sold at $2.7 million in 2007, which provides delicious conversation at the home buyers' house warming.
At Rose Bay, a Harry Seidler-designed penthouse sold last week for around the same $5.6 million price bought it for a decade ago.
The 2/20 Ian Street, Rose Bay apartment sold on Friday ahead of a planned auction through 1st City agents Alexander Gold and Rod Fox.
 
There are plenty of near backward prices undermining another adage that Sydney property doubles every seven years.
The more recent housing cycles have necessarily seen this adage adapted to every 10 years.
But I saw a Macquarie Street, Sydney CBD apartment sell recently at $2 million, having been bought off the plan in 1999 at $1.01 million.
Nationally only 32 percent of homes are currently reselling at double or more than their purchase price, typically owned for 17 years.
Cameron Kusher at CoreLogic RP Data did some research on the decade to January 2016, finding home values across the combined capital cities increased by 72 percent which suggests values aren't doubling over the decade.
If we look at the split between houses and units, house values are 73 percent higher compared to 64 percent increase in unit values.
Although combined capital city home values haven’t doubled over the past decade, the previous decade was quite a different story.
Between January 1996 and January 2006 combined capital city home values increased by 151 percent with house values up 159 percent and unit values 110 percent higher. B
Taking a look at value growth across individual capital cities shows a diversity in results as Melbourne was the only capital city housing market where home values doubled over the past decade.
Home values in Sydney and Darwin have each recorded increases of more than 75% over the past decade.
Brisbane, Adelaide, Perth, Hobart and Canberra increased by less than 50%. 
But over the 10 years to January 2006, home values more than doubled across every capital.
It all suggests the days of rapid value rises are behind us, or or at least for most of us.
This article was first published in the Saturday Daily Telegraph.
 
 
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It's taking longer to double your property price

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The housing market concluded 2015 with a whimper, with national house prices falling again at the national level in December. However, strong price growth in the first half of the year meant that prices were still up solidly over the past year.
But the current environment of subdued demand is likely to see price growth remain sluggish as we move into 2016.
<a href="/images/2016/01/11/Screen%20Shot%202016-01-11%20at%2010.25.42%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/11/Screen%20Shot%202016-01-11%20at%2010.25.42%20AM.png" alt="" width="891" height="258"> 
Prices fell across the key markets of Sydney and Melbourne in December in seasonally adjusted terms. Prices in Sydney have now fallen for three consecutive months – the first such run in nearly five years. 
Prices are being driven by softer demand and sentiment in the housing sector. Tighter regulation and higher interest rates have contributed to auction clearance rates falling from their recent peak. As clearance rates dipped further in December, to a three-year low in Sydney, house prices have been correspondingly soft (Figure 1). 
<a href="/images/2016/01/11/Screen%20Shot%202016-01-11%20at%2010.28.46%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/11/Screen%20Shot%202016-01-11%20at%2010.28.46%20AM.png" alt="" width="806" height="580">
Falling prices were prevalent across most of the smaller capitals too in December. However, one brighter spot was Brisbane, which experienced rising prices over the past two months. This is consistent with our belief that Queensland’s economy has turned the corner, supporting housing sentiment. In addition, the absence of earlier price growth to the extent of Sydney or Melbourne means that there is less room for unwinding over the near term (Figure 2). 
<a href="/images/2016/01/11/Screen%20Shot%202016-01-11%20at%2010.28.57%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/11/Screen%20Shot%202016-01-11%20at%2010.28.57%20AM.png" alt="" width="797" height="547">
<a href="/images/2016/01/11/Screen%20Shot%202016-01-11%20at%2010.31.55%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/11/Screen%20Shot%202016-01-11%20at%2010.31.55%20AM.png" alt="" width="780" height="552">
 
Cherelle Murphy is co-head of Australian economics, ANZ and Daniel Gradwell is economist. They can be contacted <a href="https://bluenotes.anz.com/authors/our-economists/" target="_blank">here</a>.
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Australian house prices finished 2015 on a whimper: ANZ Research

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GUEST OBSERVER
Property prices will rise next year, despite some plateauing in recent weeks.
The late 2015 Melbourne property market has been a remarkably balanced affair in terms of the relative power of buyers and sellers. Supply has been strong, with a record number of 1000-plus auction weekends. But there has also been enough buyers out there to soak up the supply. Only just though, as evidenced by the lack of price movement since the end of winter.
After the strength of the market over the preceding three years, it is tempting to extrapolate this result as the turning point downwards for the market. But I suspect there is some more capital growth to come off the back of residual momentum.
Come late February 2016, when the property auction market reopens, I expect buyers will once again outnumber sellers.  This is a common seasonal characteristic of the early autumn market, just as there tends to be a glut of sellers in the late spring market. 
Buyers are typically ‘ready and keen’ to buy sooner in the calendar year after the long summer holidays than sellers.
There are of course headwinds for the market: a strong pipeline of new properties, especially apartments, adding to supply; tighter prudential lending rules making borrowing slightly more expensive and scarce; overseas buyer demand is moderating after a strengthening of foreign investment rules; falling rental yields; and, not least, the impact of three years’ capital growth on affordability.
On the other hand, interest rates remain at a historically low level and an interest rate rise is a distant likelihood. Even with softer rental yields, prospective investors enjoy an unusually small ‘funding gap’ – the difference between their borrowing costs and the net rental return.
Allied to this, participation in the market is likely to be supported by the relatively benign economic conditions: stable unemployment, low inflation and reasonable consumer confidence.”
Winter Blues?
The outlook becomes more uncertain in the second half of 2016.
By June 2016, it will be 15 quarters, or just under four years, since the start of the latest upswing in Melbourne property prices. That’s an impressive run. It is almost inevitable that there will be a pause or even a downturn at some point in the not too distant future. 
However, should it turn out that we are not at the bottom of the Reserve Bank’s cash rate interest rate reduction phase – which may be the case given that few of us would have predicted even a year ago that the cash rate would go as low as today’s 2% – then price growth may persist, albeit modestly, across 2016.”
Where will prices be in 2026?
Although fun to crystal ball gaze into 2016, thinking about where prices will be in ten years’ time – in 2026 – is more worthwhile.
Ultimately, if you’re planning to invest in property next year, it should be with the intention to stick with that asset for at least seven years and ideally ten.  Over that longer time frame, prices are far less volatile and more predictable than they are year-to-year.  Choose a great asset and I can’t tell you whether it will rise or fall in value next year, but I’m very certain it will double in value after 10 years.
By great assets I mean established one- and two-bedroom apartments and two-bedroom period-style houses on quiet, attractive residential streets in inner suburban Melbourne that are proximate to transport, village-type shopping strips, schools and health facilities. Select older-style architecture and all units should have dedicated off-street parking and be in blocks containing no more than around 20 apartments.
What to avoid in 2016
Whilst it is difficult to call when the market will turn, there are certain parts that should be avoided in 2016.
The Federal Government has been vigorous over recent months in putting in place and policing measures that address widespread non-compliant property purchases by non-residents. Whilst a small proportion of buyers overall, overseas buyers were sufficiently concentrated in some school-belt Melbourne eastern suburbs to push prices beyond fair value.  We anticipate that there may be a pullback in prices in suburbs such as Balwyn, Box Hill and Mont Albert in 2016, as these markets adapt to a fall in demand.
The high rise multi-apartment sector in our CBD and surrounds will almost certainly struggle under the weight of a massive pipeline of new properties expected to flow into the market over the next 12 months. It’s hard to have a good word to say about a sector where so many buyers are marketed a dream and sold a nightmare. 
But let me try: If making money is not your goal and you want to be in the city, then you may be able to buy an affordable high rise apartment in 2016. But make sure you buy it second hand.  You’ll probably secure a 20%-plus discount on the price of new apartments because you’re not paying for a developer’s marketing costs and you’re dealing with a vendor who cannot sell it to overseas buyers because it isn’t new.
Paul Nugent is a director of <a href="https://www.wakelin.com.au" target="_blank">Wakelin Property Advisory</a>, an independent firm specialising in acquiring residential property for investors.
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Further growth for Melbourne property prices in early 2016: Wakelin's Paul Nugent

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Aircraft noise has had minimal, if any, impact on property prices in suburbs near or under the flight paths to Brisbane Airport, a QUT analysis of 26 years of property sales, rental and investment performance has found.
The study found property prices in some high-value suburbs with high noise complaints rose at a greater rate than other similar suburbs unaffected by aircraft noise.
Property economist Professor Chris Eves and Andrea Blake from QUT’s School of Civil Engineering and Built Environment and the QUT Air Transport Innovation Centre analysed price, saleability, investment performance and capital growth from 1988 to 2014 of residential properties in 40 Brisbane suburbs either near the airport or under a flight path.
“It is the most detailed and comprehensive analysis of the impact of aircraft noise ever undertaken in Australia,” Professor Eves said. The study was commissioned by Brisbane Airport Corporation.
“In total we looked at more than 180,000 sales transactions in 40 suburbs ranging from those whose residents recorded the highest number of noise complaints to those which reported minimal or no aircraft noise.
“Our findings suggest that factors such as proximity to transport, the Brisbane CBD, schools, recreation facilities, the airport and other services, far outweigh any negative impact experienced as a consequence of being under a flight path or from aircraft noise.”
Professor Eves said the suburbs were classified by the number of aircraft noise complaints recorded by Air Services Australia over the past five years. These suburbs were classified  as having high, moderate or minimal/no noise complaints.
“Our analysis shows very little difference in growth of house prices across high-value suburbs regardless of where they were situated or their exposure to aircraft noise.
“For example, Bulimba, which is under an existing flight path and records moderate noise complaints, has capital returns slightly higher than New Farm which is not subject to any noise complaints.
“The capital returns for Ascot and Balmoral, which are currently not under a flight path, are less than the capital returns for Bulimba.”
Professor Eves said units and townhouses under Brisbane flight paths also showed no impact on investment performance from aircraft noise.
“Rental properties under the existing main southern flight path, which attracts the highest level of noise complaints, have a rental market increasing at the same percentage as properties not located under an existing flight path,” he said.
“In fact, over the 26 years, units and townhouses in the high noise complaint suburbs showed an average annual capital return of 7.66 per cent, which is higher than the capital returns in the moderate noise complaint suburbs of 7.40 per cent, but slightly lower than capital return for no noise complaint suburbs.
“In higher value, middle socio-economic suburbs, two of the highest average annual capital returns for the 26-year period for houses were achieved by Camp Hill (9.52 per cent) and Cannon Hill (9.72 per cent).
“Each of these suburbs is under the main southern flight path and subject to high noise complaints. In contrast, Bardon with minimal/no noise complaints achieved 9.02 per cent.”
Professor Eves said Hendra, another higher value middle socio-economic suburb, adjoining the airport, had recorded moderate noise complaints but outdid them all and achieved an average annual capital return of 10.9 per cent.
“Hendra is not currently under a flight path but will be when the New Parallel Runway opens in 2020,” he said.
“Even when we looked at the only two lower- value, middle socioeconomic suburbs in the study, we found similar effects.
“Mt Gravatt East, which records moderate noise complaints under the existing flight path, had, at 7.93 per cent, a higher average annual capital return than the Brisbane median of 7.72 per cent.
“In contrast Chermside West, which has minimal/no noise complaints under the existing flight path, had below the median growth of 6.46 per cent?
“Overall the study found that the value and price of housing and units in Brisbane located under flight paths are determined by a range of factors other than aircraft noise.”
Professor Eves said that when the new proposed flight paths open in 2020 there would be many suburbs which had less noise because aircraft movements would be shared.
Brisbane Airport Corporation (BAC) corporate relations head Rachel Crowley said the potential negative impact on property values was a cause of concern for people living near an airport or under a flight path.
“We’re pleased that this study may provide some comfort to people who may be anxious about whether or not their property value is constrained by their location under a flight path,” Ms Crowley said.
“We also hope this study may convince property developers, vendors and real estate agents that being open and transparent about the presence of a flight path should not negatively impact sale price.
“Airports are essential national infrastructure and the importance of their ability to operate unencumbered cannot be over-stated.  
“Queensland is in the fortunate position of having its major gateway airport  both well-located and well-protected by a significant buffer of industrial land which protects residents from the worst aircraft noise experienced in cities which have residential development far closer to the airport.”
Suburbs in the study were:
High noise complaints 
Morningside,
Coorparoo
Camp Hill
Cannon Hill
Tarragindi
Seven Hills
Tingalpa
Norman Park
Holland Park West
The Gap
Murrarie
Belmont
Moderate Noise Complaints
Gordon Park
Northgate
Bulimba
Mount Gravatt East
Balmoral
Clayfield
Ashgrove
Chapel Hill
Wynnum
Fairfield
Hawthorne
Ascot
Minimal/no noise complaints
Annerley
Mitchelton
New Farm
Mansfield
Virginia
Chelmer
Sherwood
Jindalee
Forest Lake
Kenmore
Graceville
Hamilton
Suburbs under south flight path
Morningside
Camp Hill
Seven Hills
Mt Gravatt East
Balmoral
Murrarie
Tarragindi
Coorparoo
North flight path
Ascot
Hendra
Albion
Chermside West
Ashgrove
Bardon
New flight path (2020)
Hamilton
Annerley
Stafford
New Farm
No flight path
Mansfield
Mitchelton
Wooloowin 
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j.ballantyne1990-6AQqhLzZaK

What noise? Property prices in Brisbane suburbs under flight paths continue their climb

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A new report suggests retail property prices will be built up by investors due to tightening yields, improved consumer sentiment and other asset classes not providing the same stability.
The LJ Hooker Commercial Retail Market Monitor said the value of retail transactions dropped in 2014-15, with the downturn attributed to the lack of available stock, with regional centres hit the hardest.
“Investment transaction activity was a little subdued in the first half of 2015, constrained in dollar terms by the low level of stock available,’’ he said.
“Regional centres have been consolidated on the back of improved retail spending.
"Queensland’s capital and secondary markets experienced a halving of retail turnover from 5.3% in 2013 to 2.5% in July this year.
“But we’re expecting a considerable turn-around for Queensland eclipsed, not surprisingly, only by Sydney and New South Wales over the next two years."
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mick.cee-iDmgDDAmu8

Tight yields to drive retail property investors

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Brisbane is gaining a reputation as Australia's most affordable eastern capital with price growth potential, according to Herron Todd White.
Herron Todd White's October Month in Review found entry level and mid-range property within 10km of the CBD is going great guns and said buyers are 'sheep-dogging' over each other when an appropriately priced property hits the market - preferably second hand unit stock.
HTW said it’s price accessible, in locations that have a lot of rental demand and for a few grand, you can spruce up the space and add some value.
"Attached housing in the $330,000 to $550,000 range is doing well. Try Coorparoo and Greenslopes for units and townhouses at $330,000 to $400,000. That price point will land you an unrenovated, 2-bed, 1-bath abode in a 1980s complex. Townhouses at $450,000 to $550,000 are 3-bedroom, 2-bathroom for the record," HTW noted.
"For detached housing, the sweet spot is in the $600,000 to $800,000 bracket around the mid/ inner ring,
"You can get great quality homes at a fraction of the Sydney prices. Coorparoo, Camp Hill and Norman Park provide high set 3-bedroom, 1-bathroom dwelling in average condition on a 405 square metre to 607 square metre allotments at this price point. Our expectation is that this sector will continue to perform over the remainder of the year.
"Capital growth is tracking at approximately 5% per annum for the past 12 months and there is a good level of supply at present to match the demand, which is coming predominately from owner- occupiers."
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