Construction has commenced&nbsp;<a href="https://www.apartments.com.au/new-apartments/kew-palm-house-bellevue-hill-88-birriga-road-bellevue-hill-nsw-2023">Kew Palm House</a>, marking a significant milestone for the boutique Bellevue Hill apartment project on one of the suburb's best streets.

Developer <a href="https://www.apartments.com.au/developers/kew">KEW</a> recently hosted the traditional ground-breaking ceremony, joined by key project partners, officially turning the soil on what will become one of Bellevue Hill's most impressive new developments in one of&nbsp;Sydney’s most tightly held residential markets.

[smartcode_project:default project_id=133966 project_image_fid=352214]

Set across two low-rise buildings on the dress circle Birriga Road, Kew Palm House will deliver a mix of 16 two-, three-, and four-bedroom residences, including whole-floor homes and penthouses, responding to sustained demand from downsizers and owner-occupiers seeking high-quality apartment living without leaving the suburb.

The project occupies an amalgamated 3,000 sqm site bordering the Royal Sydney Golf Club, a rarity for new apartment development in <a href="https://www.apartments.com.au/developments/bellevue-hill-nsw-2023">Bellevue Hill</a>.

Architecture by Woods Bagot takes a townhome-inspired approach, with finely detailed façades and layered massing designed to sit comfortably within the established streetscape.

[smartcode_project:default project_id=133966 project_image_fid=352216]

The buildings are surrounded by landscaped gardens by <a href="https://www.apartments.com.au/landscape-architect/dangar-barin-smith">Dangar Barin Smith</a>, with communal pathways leading to a pool house and shared alfresco spaces intended to support a quieter, more residential form of apartment living.

Interiors will feature natural materials including travertine, stone and engineered timber, alongside V-ZUG kitchen appliances, with layouts prioritising generous proportions, privacy and indoor-outdoor connection.

Each residence has been designed to maximise natural light while maintaining separation from neighbouring homes.

[smartcode_project:default project_id=133966 project_image_fid=352222]

Kew Palm House forms part of KEW’s growing Eastern Suburbs portfolio under the Positive Investment Enterprise group. It follows the completion of Kew Bondi on Bondi Road, with Kew Hillcrest in Rose Bay also currently under construction. Palm House reflects the developer’s longer-term commitment to Bellevue Hill, where opportunities for new, design-led apartment projects remain limited.

Kew Palm House is targeting completion in late 2027, with construction to be delivered by Harvestland Construction. KEW also has Kew Hillcrest in Rose Bay under construction, just five luxury apartments near the beach.

[smartcode_project_cta:default project_id=133966]

Staff Writer

Construction commences at Kew Palm House in Bellevue Hill

Brisbane-based <a href="https://www.apartments.com.au/developers/spyre-group">Spyre Group</a> is continuing to bolster its impress SEQ development pipeline with one of its most ambitious projects to date.

The developer, led by Daniel Laruccia and Andrew Malouf, is planning just over 300 apartments across three towers on the prized beachfront side of Main Beach Parade in Main Beach.

The prized 3,344 sqm site at&nbsp;<a href="https://www.apartments.com.au/new-apartments/3640-main-beach-parade-main-beach-qld-4217">3640-3642 Main Beach Parade</a> also fronts Stafford and Montgomery Avenue and will offer street-level hospitality.

<img alt="3640 Main Beach Parade, MAIN BEACH QLD 4217" data-entity-type="file" data-entity-uuid="18bfcdb3-b958-4b20-a85b-c61e3dbf81b9" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Spyre%20DA%20pers.png?VersionId=QvGNOHg6KDoScJZw2nAkvbun0DT2gUn1" />

The project has been designed by New Zealand-based architecture firm Monk Mackenzie, whose scheme references the fluidity of coastal forces. The smallest tower will be 37 storeys, with the other two topping out at 41 storeys. The sculptural form intends to "resonate with the site's unique peninsular position between the Coral Sea and the Broadwater."

The southernmost tower will have just 59 four-bedroom apartments, above two food and drinks venues. Towers two and three, the tallest, will have 125 two- and three-bedroom apartments in each.

“The towers stand not in opposition to the dynamic coastal landscape, but in dialogue with it,” the architects wrote in their Design Report.

“Like tide posts embedded in sand, they register change. The movements of water, light, air, and human circulation gather and disperse around them”.

<img alt="3640 Main Beach Parade, MAIN BEACH QLD 4217" data-entity-type="file" data-entity-uuid="cb2f3eb7-c517-47e5-afc8-01685c658a82" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/spyre%20podium.png?VersionId=hYe0w7UBEVNY7LPcoK9PnO9myEGn_xES" />

The podiums of each tower will feature landscaped communal open spaces, pools, and active wellness zones with spas, saunas and gyms with outdoor areas, as well a cinema and dining spaces.

Spyre's application describes the site as “uniquely positioned” to accommodate such scale, noting its separation from other towers, underutilised status, and alignment with the Gold Coast’s Light Rail Urban Renewal overlay. The staging strategy allows the towers to be delivered independently. Before it's amalgamation to make it a larger site, Spyre had approved plans for MARI, a 19-storey building with 15 apartments

<img alt="3640 Main Beach Parade, MAIN BEACH QLD 4217" data-entity-type="file" data-entity-uuid="ef40ca57-1c77-4568-a8aa-91c742334bef" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/spyre%20amenities.png?VersionId=BcaHvU4UeLkabtNlqydmvkuTEyuYmpft" />

Spyre’s wide-ranging portfolio includes Watts &amp; Wright in Bulimba, Moray House in New Farm, and ARC Residences in Toowong, all of which are approaching completion. It also includes Hampden Ltd in Melbourne’s Bayside, marking the company’s first project in Victoria’s capital.

Spyre has previously achieved significant success on the Gold Coast, setting region-breaking records at Glass House by Spyre in Burleigh Heads, where apartments sold for $24 million and $24.54 million. Cala Dei in Coolangatta also sold out in record time.

Spyre will soon launch Echo by Spyre, a boutique development of just nine villas in Tugun.

Joel Robinson

Spyre's three-tower beachfront plans for Main Beach

IPM Property is progressing plans for its third development in Mona Vale in Sydney's Northern Beaches, and its latest will be the biggest yet.

IPM, led by Steven Sroba and Chris Webster, has filed a State Significant Development Application to the NSW Government's Housing Delivery Authority for 82 apartments on a prime 6,122 sqm site stretching across <a href="https://www.apartments.com.au/new-apartments/159-167-darley-street-west-mona-vale-nsw-2103">159-167 Darley Street West</a>, opposite Bayview Golf Course and just under 800m from Mona Vale town centre.

They've had <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> draw up the plans for the three-building development which will offer a mix of 26 two-bedroom units and 56 three-beds with interiors by <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a>.

According to the Design Report by PBD, the built form "responds to the site’s natural fall, solar orientation, and established vegetation, creating a layered architectural expression that balances scale, materiality, and landscape”.

<img alt="159-167 Darley Street West, Mona Vale" data-entity-type="file" data-entity-uuid="44040ed2-13c6-4f18-8326-a51467cb8532" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Mona%20vale%20pers.png?VersionId=4H1gEiyyCX2yT_fYV6kAdWaaVlCttC6P" />

The proposal aims to maximise passive design outcomes, with the site’s northern orientation supporting solar access and cross-ventilation. Building footprints have been shaped to preserve high-retention trees and accommodate an overland flow path, which runs diagonally through the rear of the site.

The development includes several sustainability initiatives, such as full electrification, EV charging provisions, and generous communal open spaces integrated across the ground and rooftop levels. As outlined in the planning documents, the buildings have been stepped in both plan and elevation to reduce bulk and provide separation to adjacent dwellings, in line with the Apartment Design Guide and local controls.

The project site falls just within the 800-metre radius covered by the NSW Government’s Low and Mid-Rise Housing Reforms, which entered their second stage in February 2025. These reforms introduce specific planning controls that significantly increase the potential for medium-density housing growth within 800 metres of the Mona Vale town centre.

<img alt="159-167 Darley Street West, Mona Vale" data-entity-type="file" data-entity-uuid="5df61e6d-0696-4c1e-81c2-8d3535228878" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_9.png?VersionId=vWjI2oCZhAkCPKv4xMEVLdVNkn.keD6_" />

IPM has been active in the local market for several years. Its recent projects include Maya on Bungan Street near the town centre, a 33-apartment development completed in late 2024, and Iluka on beachfront Golf Avenue, a boutique project of just 14 apartments. Iluka set a local record in 2021 when a full-floor, three-bedroom apartment sold off the plan for $4.775 million.

Nearby in Palm Beach, IPM is also delivering Snappermans, a collection of just five luxury apartments designed by Koichi Takada Architects, located steps from Pittwater. The developer has also recently completed Como Coogee, a 20-apartment development on Carrington Road.

First look: IPM plans third Mona Vale project

With demand for high-quality family homes in the inner west continuing to rise, young families are increasingly turning to new forms of multi-generational living.

At <a href="https://www.apartments.com.au/buildings/ashbury-terraces-ashbury-165-171-milton-street-ashbury-nsw-2193">Ashbury Terraces</a>, Nikki Pham and Danny Lai are among the growing number of residents choosing the precinct for its space, design integrity and strong sense of community.

For Nikki and Danny, purchasing a three-storey terrace was about securing a long-term home for their young family. Having spent most of their lives in the inner west, they first discovered the project while it was under construction.

“We walked past and had a look during the build and instantly felt the vibe. It had everything we were looking for,” said Nikki.

A return to green, open spaces was a major drawcard after living closer to the CBD.

“We like going for walks, and here it feels like a mini oasis while still being central to everything we need,” she said.&nbsp;

[smartcode_project:default project_id=112253 project_image_fid=354944]

Inside, the couple were immediately drawn to the craftsmanship.&nbsp;

“I love the Calacatta marble and timber detailing. If I’d designed it myself, these are exactly the fittings and fixtures I would have picked,” Nikki said. “There’s actually very little I’d change.

“We’ve found the craftsmanship has been great and I believe the beautiful arches and curves, including on our stunning staircase, are all made by hand.”

Since moving in with their seven-month-old baby in mid-August, the family has been making the most of the amenities, especially the pool.&nbsp;

“We love using the shallow area with the baby. It’s great for kids, and the sunbeds are perfect when it’s not too hot,” Danny said.

[smartcode_project:default project_id=112253 project_image_fid=354939]

The home features kitchen, living and dining areas on the ground floor with courtyard access to the pool, two bedrooms and a study on the middle level, and a master suite on the top floor. The proximity to local parks, childcare, and schools also made it an easy choice.

Nikki has noticed the project is sparking interest from the extended families of new residents.&nbsp;

“Several of our neighbour’s parents have now bought here too. It’s ideal for multi-generational living because everyone has their own space but you’re still close by.”

<h2>A growing trend in the inner west</h2>

Aras Labutis, Head of Urban Transformations at <a href="https://www.apartments.com.au/developers/coronation-property">Coronation Property</a>, said families like Nikki and Danny’s reflect a broader shift.

“Ashbury Terraces was designed for families at different life stages who want to stay connected to the inner west, including multi-generational households," Labutis said.

"Some terraces even include lifts, which make them ideal for older residents who want to remain independent while living close to children or grandchildren."

[smartcode_project:default project_id=112253 project_image_fid=354936]

Recent ABS data shows around one in five Australian households is now multigenerational, following a 22 per cent rise in the five years to 2021.

“The demand we’re seeing aligns with broader national data showing ongoing growth in multi-generational living as families look for practical, long-term solutions in well-connected suburbs.”

<h2>Milton Estate launches as the precinct’s next chapter</h2>

Following this strong response, Coronation is now registering expressions of interest for Milton Estate, the next evolution of the precinct. Strong sales and sustained interest in family-focused inner west homes have underpinned the decision to bring this next stage to market sooner than anticipated.&nbsp;

[smartcode_project:default project_id=112253 project_image_fid=358839]

The new collection continues the same design principles, quality materials, heritage sensitivity and family-focused layouts, and its launch reflects demand from both local buyers and extended families who want to remain part of the growing community at Ashbury Terraces.

<h2>A new neighbourhood taking shape</h2>

Designed by award-winning architects <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a>, and brought to life with landscaping by <a href="https://www.apartments.com.au/landscape-architect/360-degrees-landscape">360 Degrees</a>, Ashbury Terraces comprises 136 residences across five low-rise buildings, supported by amenities including a pool, gym and landscaped communal spaces.

For Nikki and Danny, it already feels like a place to grow for years to come.

“We’ve found great childcare nearby, and Ashbury Primary and Trinity Grammar are within easy reach. There are other excellent public and private school options too,” Nikki said.

“It’s hard to find something like this in the Inner West,” she added. “It’s certainly unique in <a href="https://www.apartments.com.au/developments/ashbury-nsw-2193">Ashbury</a>. We’ve got everything we need here and it already feels like home.”

[smartcode_project_cta:default project_id=112253]

Ashbury Terraces proves a perfect fit for growing families and multi-generational living

An exclusive collection of luxury Sky Homes featuring sweeping water views, each with their own private rooftop terrace and marina berth, are part of the latest release at Lewis Land’s visionary <a href="https://www.apartments.com.au/new-apartments/harbour-shores-biggera-waters-564-oxley-drive-biggera-waters-qld-4216">Harbour Shores</a> masterplanned community.&nbsp;

The Sky Homes, which sit within the Signature Collection, have been designed by&nbsp;<a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>&nbsp;and&nbsp;feature contemporary light-filled coastal interiors, accented by natural textures of timber and stone. The homes range from 282 sqm to 367sqm and offer three bedrooms, three bathrooms, multiple living zones, three car parks, large private balconies, and their own rooftop terraces. &nbsp;

[smartcode_project:default project_id=113271 project_image_fid=359204]

<a href="https://www.apartments.com.au/developers/lewis-land-group">Lewis Land</a> Head of Development Michael Long said the three double-storey Sky Homes occupying the &nbsp;upper levels of The Waterline apartment building formed part of the masterplan’s Signature Collection of &nbsp;luxury residences. &nbsp;

“The exclusive Sky Homes are more than penthouses, they are double-storey homes featuring expansive living spaces and outdoor terraces,” Mr Long said.&nbsp;

“Located on levels five and six of The Waterline, each Sky Home includes its own private marina berth with direct Broadwater access and carefully curated high-end finishes throughout.”&nbsp;

&nbsp;

[smartcode_project:default project_id=113271 project_image_fid=359206]

The launch of The Signature Collection coincides with the milestone topping out of The Waterline, the first of three residential collections being delivered in the first stage of Harbour Shores.&nbsp;

Residents will also have access to a private pool and other resident-only amenities including a large &nbsp;lagoon pool, social clubhouse, tennis court, gym, yoga and sauna facilities. &nbsp;

Prices for the Sky Homes start from $3.65 million. &nbsp;

&nbsp;

[smartcode_project:default project_id=113271 project_image_fid=290031]

The Signature Collection also features The Residences, an exclusive release of six premium waterfront villas, positioned directly on the 1.2km waterfront boardwalk.&nbsp;

The Residences offer more than 350 sqm of contemporary living with premium finishes throughout and &nbsp;dining spaces that flow seamlessly to the outdoor entertaining area on the ground floor. Each have their own private plunge pool overlooking the water, and a private marina berth.

All villas include two secure car parks and residents have access to the extensive amenities within the broader precinct. Prices start from $3.05 million. &nbsp;

[smartcode_project:default project_id=113271 project_image_fid=290030]

Harbour Shores is a resort-style community focused on lifestyle and wellness where neighbourhoods &nbsp;are connected by extensive landscaping, green spaces and pedestrian networks, including a 1.2- kilometre waterfront boardwalk.&nbsp;

Boasting a 6 Star Green Star Communities V1.1 rating, the highest level of sustainability of any project &nbsp;on the Gold Coast, Harbour Shores will deliver more than 2,000 homes over the next decade.&nbsp;

Colliers is marketing Harbour Shores, and has seen significant demand from local owner-occupiers.

[smartcode_project_cta:default project_id=113271]

Lewis Land unveils Harbour Shores’ double-storey sky homes with private marina berths

Record

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National housing values reached a record high over January, as 0.9 per cent gains took values higher than the previous September 2017 peak, according to property data firm CoreLogic.

CoreLogic's monthly home value index found every capital recorded dwelling value growth over the first month of 2021. Housing values are now one per cent above pre-COVID levels and 0.7 per cent higher than September 2017's record high.

Sydney and Melbourne were the weakest of the capital cities over January, posting modest 0.4 per cent gains.

Darwin continued to be the national market leader, up another 2.3 per cent to be 6.6 per cent up over the quarter. Perth and Hobart each saw a 1.6 per cent rise in dwelling values, followed by Canberra who were up 1.2 per cent and Brisbane and Adelaide both up 0.9 per cent.

<img alt="" height="713" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/cl_index_january_2021.jpg" width="1200">

CoreLogic research director Tim Lawless says the largest capital city markets are seeing property in the state's regional areas vastly outperform the capital.

Home values across regional Victoria jumped 1.6 per cent over January compared to the 0.4 per cent in Melbourne, with regional New South Wales posting 1.5 per cent gains compared to 0.4 per cent in Sydney.

“Internal migration data shows more people are leaving Sydney and Melbourne for regional areas, resulting in a transition of activity from the metro regions to the outer fringe and regional markets," Lawless said.

"This demographic trend is further compounded by the demand shock of stalled overseas migration.

"As Melbourne and Sydney historically receive the vast majority of overseas migrants, these metro areas have been the hardest hit by this demand shock.”

Since the onset of COVID-19 in March last year, regional housing values have surged 6.5% higher while capital city housing values are down -0.2% over the same time frame.

“Better housing affordability, an opportunity for a lifestyle upgrade and lower density housing options are other factors that might be contributing to this trend, along with the new found popularity of remote working arrangements," Lawless added.

 
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Housing values are now one per cent above pre-COVID levels and 0.7 per cent higher than September 2017's record high.

Australian housing values reach record high: CoreLogic

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EXPERT OBSERVER
With many of Australia’s capital city housing markets posting a gain in values over the past three months, a recovery trend is looking increasingly entrenched… but how long will it take for residential property values to reach a new record high if the current rate of growth continues?
If housing values continue to rise at the same rate recorded over the past three months, national dwelling values could reach a new record high in six months time.
Based on CoreLogic’s Home Value Index, national dwelling values remained 5.7% below their peak at the end of October. With values rising by 2.9% over the past three months (averaging a rise of just under 1% per month), it would take approximately 6 months for housing values to return to their historic high.
Most of Australia’s capital cities have recorded a rise in dwelling values over the past three months, with the only exceptions being Perth and Darwin, where values have been trending lower since mid-2014. While values continue to reduce, housing affordability is continuing to improve and buying opportunities are becoming more plentiful.
The same can’t be said of Hobart and Canberra which are the two capitals where housing values are already at new record highs.
Hobart values recorded only a mild correction of 1.3% from peak to trough, with the market reaching a new record high in October 2019.
Similarly, Canberra housing values recorded a peak to trough decline of only 1.5% during the downturn, and moved through a new record high in September this year.
Across the remaining capital cities, Melbourne is on track to stage a full recovery the earliest. If the current run rate of growth continues, Melbourne’s housing market will recover in January. During the correction, Melbourne housing values fell by 11.1% from peak to trough and remained 5.8% below their peak in October.
Dwelling values across Melbourne’s Inner precinct were only 1.5% below their peak in October, and this subregion is on track set a new valuation benchmark by the end of November; the earliest of any of Melbourne’s sub-regions. Despite the earlier recovery period across the Inner precinct of Melbourne, the prestigious Inner East is recording the fastest rate of growth, with values up 8.3% over the past three months and on track for a recovery within three months.
Brisbane is showing the next fastest recovery time frame; not because values are rising rapidly, but mostly because the correction in values across Brisbane was quite shallow (down 2.9% from peak to trough). The past three months of gains (+1.1% or 0.4% per month) has put Brisbane housing values on a path to recover within the next 4 months.
Sydney’s housing market is on track to post a recovery within six months, or around April next year if the current pace of growth continues. Housing values are trending higher rapidly, up 5.0% over the past three months, however the correction was more substantial across Sydney, with housing values falling by 14.9% from peak to trough. Sydney dwelling values remained 10.4% below their 2017 peak at the end of last month.
The recovery trajectory in Adelaide is looking more drawn out, with values rising at the quarterly rate of only 0.1%. Although housing values are down only 1.2% since peaking, such a sluggish rate of appreciation is likely to see a prolonged recovery phase. Despite what looks to be a long recovery period, two of Adelaide’s sub-regions have already reached new record housing values. Both the North and South of Adelaide posted a new record high for housing values in October this year.
A recovery in the housing market should help to provide some support for Australian economic conditions, boosting household wealth which will potentially lead to improved confidence and a greater willingness from households to spend, while also supporting the residential building and development sector where dwelling approvals have tanked.
On the flipside, for non-home owners, a recovery in housing values implies the affordability dividends provided by the recent housing downturn are now a thing of the past. With housing values rising rapidly in some areas, we could see less first home buyer participation in the market as affordability pressures start to dampen activity across this important sector of the market.
TIM LAWLESS is the CoreLogic Head of Research
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tlawless-5VLUrbAk9s

How long until housing values reach a new record high? Tim Lawless

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The Newtown residential house price record has been smashed with only the inner west suburb's second sale over $5 million.
The <a href="https://www.realestate.com.au/sold/property-house-nsw-newtown-131115386" target="_blank">Australia Street warehouse conversion</a> had been on the market for around two and a half years, having initially sought $7.5 million back in April 2018.
Property Observer understands the mystery buyer, who engaged their solicitor to handle the purchase, will be gutting the home.
Set behind its original facade, the Roman redesigned warehouse spans two levels with almost 900 sqm of internal and external living space.
<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/2020/9/14/Newtown%203.jpg" alt="">
It was originally built as a baker in the early 20th century.
The focal point of the home is the central courtyard and swimming pool, which opens from the six metre gourmet kitchen, dining and living space.
<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/2020/9/14/Newtown%202.jpg" alt="">
There are six bedrooms upstairs, including a king-size master suite with walk in wardrobe and ensuite, as well as a second living area and a library.
The Agency's Brad Gillespie secured the sale on behalf of longtime owners Bob Miller and his wife Gay, who paid $650,000 for the home on 510 sqm in 1994. 
It topples the previous record, set by The Agency's Ben Collier last year.
He sold the former Masonic Hall on Station Street for artist Tom Arthur and wife Sandra for $5.05 million.
It was bought WiseTech Global exec Brett Shearer.
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jrobinson-rf4aSBido9

Newtown record smashed with $5.8 million sale

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Lender loans.com.au has introduced a record low discounted variable rate of 1.99%, available for one year before it reverts to 2.57%.
The move comes less than one month after Tasmanian customer owned bank, Bank of Us introduced fixed rates of 1.99%.
With loans.com.au’s new lowest variable rate of 1.99% only available for one year, Canstar has compared the interest paid over the 30 year life of the loan between the new offer and the current lowest variable rate of 2.19%.
The analysis reveals that taking out the introductory offer of 1.99% would see borrowers with lower monthly repayments for 12 months though it will cost $25,517 more in interest over the life of the loan (assuming the rate differential stays the same). 
<img src="https://www.urban.com.au/images/2020/7/23/Canstar%20July%2023.JPG" alt="">
Canstar's finance expert, Steve Mickenbecker said,“just last month we saw fixed rates crack the 2% barrier, with variable rates now following suit, albeit with an introductory rate that moves higher after 12 months.”
“The four minute mile of home loans, a rate below 2%, was broken last month and with the barrier broken we are now seeing fast followers.
“We saw how quickly the competition moved below 3% once that record fell, so a rate below 2% could soon become the qualifying rate to be competitive.
“A rate below 2% could make a big difference to homeowners’ hip pockets each month, but borrowers have to be prepared for a higher monthly repayment when the 12 month introductory period expires, even though the ongoing rate is competitive.
“Switching from the average variable rate of 3.44% to a rate of 1.99% on an average $400,000 loan could put $307 per month or over $3,600 back into borrowers wallets in just the first year,” he concluded.
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j.ballantyne1990-6AQqhLzZaK

A second record low 1.99% home loan has arrived

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REIV President Leah Calnan says the Victorian Property Market achieved record-breaking growth prior to the outbreak of Coronavirus.
During the March Quarter metropolitan, houses soared to a new record height, eclipsing $890,000 for the first time, a 3.7 % growth on the previous December 2019 quarter.
Metropolitan Units followed this strong trend reaching over $640,000.
Records were smashed in the Outter Melbourne region with both Houses and units reaching new high values.
While Inner and Middle Melbourne, the price of units grew to new heights and even outperformed the growth of houses in those regions.
Growth continued evenly across regional Victoria with gains in both units and houses. Greater Bendigo has fared very well featuring five suburbs in the list of top 20 suburbs for quarterly growth for regional Victoria.
<img src="https://www.urban.com.au/images/2020/4/24/Melb%201.JPG" alt="">
REIV President Leah Calnan said the March Quarterly Medians shows that the Victorian property juggernaut was in peak form before the outbreak of Covid-19
“2020 has been an amazing year for real estate; property values have reached new heights across the state during January, February and March.” Ms Calnan said.
“Investors in the Victorian property will be thrilled with these figures, units and houses have soared in value; our market is in red hot form.”
“Our local market is strong and resilient; buyers from across the globe are have shown great interest in Victoria.”
“Everybody wants to get in on the action; we were regularly getting over 1000 homes sold at auction over a weekend, competition for houses in Victoria remains strong.”
“In chaotic times such as we are battling now, it is a much welcome relief to be able to see some good news, Victorian real estate is in great condition.”
“Our industry is strong, and we will survive Coronavirus, the desire for Victorian real estate is high when this over we look forward to more fantastic results,” she concluded.
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Victorian property market was in peak form pre-coronavirus: REIV

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EXPERT OBSERVER
Across the combined capital cities, there is currently 5.3 months of housing supply available for sale.
If no more properties were advertised for sale it would take 5.3 months for current advertised supply to be purchased.
For this time of year, this is the highest months of supply figure any time since 2012.
To put the figure into context, at the same time last year there was a much lower 3.9 months of supply.
The lift in months of supply is a function of a lift in the amount of stock available for sale and the ongoing fall in transaction volumes.
The months of supply metric measures the volume of stock advertised for sale against the run rate of settled sales.
The result, expressed in months, provides an indication about how long it would take the market to absorb all the residential properties that are advertised for sale.
<img src="https://www.urban.com.au/images/2019/5/16/MoS%201.JPG" alt="">
Currently, there is 4.1 months of housing stock available for sale in Sydney.
Although this still may seem like quite a low supply of stock for sale, in comparison to the previous seven years, the months of supply figure is now the highest it has been at this time of year any time over that period.
Months of supply is elevated due to much lower transaction volumes and an elevated volume of stock for sale.
<img src="https://www.urban.com.au/images/2019/5/16/MoS%202.JPG" alt="">
In Melbourne there is currently 5.9 months of housing supply for sale.
Although that figure has reduced slightly over recent weeks, it is still currently higher than over the same period during any of the previous seven years.
Much like Sydney, a much slower rate of sale and much higher stock for sale has led to the heightened supply.
<img src="https://www.urban.com.au/images/2019/5/16/MoS%203.JPG" alt="">
There is currently 5.9 months of housing supply for sale in Brisbane, which is the highest for this time of year since 2012.
The elevated volume of stock for sale coupled with falling transaction volumes are the factors driving the heightened supply.
Although stock is elevated relative to recent years it has been fairly steady at 5.9 months over recent weeks
<img src="https://www.urban.com.au/images/2019/5/16/MoS%204.JPG" alt="">
Months of supply in Adelaide is trending higher, transaction volumes are steady if not slightly higher than a year ago however, the volumes of stock for sale is much higher.
There is currently 3.8 months of supply on the market and although that figure is lower than most other capital cities it is slightly higher than at the same time last year (3.7 months).
<img src="https://www.urban.com.au/images/2019/5/16/MoS%205.JPG" alt="">
The ongoing weak housing conditions in Perth whereby values and transaction volumes continue to fall and stock for sale mounts has led to further increases in months of supply.
At 7.7 months of supply, supply is the highest it has been at this time of year, any year since 2012.
7.7 months of supply is also one of the highest amongst all capital cities.
<img src="https://www.urban.com.au/images/2019/5/16/MoS%206.JPG" alt="">
A major contributor to the surge in dwelling values in Hobart over recent years has been the lack of stock for sale.
More recently, the volume of stock for sale has risen however, it remains quite low reflected by the fact there is just 2.8 months of supply on the market currently.
Although that figure is low, it is higher than at the same time last year (2.0 months) and 2017 (2.7 months) but it remains much lower than previous years.
<img src="https://www.urban.com.au/images/2019/5/16/MoS%207.JPG" alt="">
The months of supply for sale in Darwin is higher than any other capital city at 9.0 months.
Darwin has a high supply of stock for sale and low rate of sale resulting in the high months of supply.
Despite the high figure, it is actually lower than it was at the same time of year for each of the past three years.
<img src="https://www.urban.com.au/images/2019/5/16/MoS%208.JPG" alt=""> 
Canberra currently has 3.6 months of housing supply advertised for sale.
Although that is a comparatively low figure, months of supply in Canberra hasn’t been as high as it is currently since 2013.
Like most other capital cities, months of supply is elevated due to a heightened volume of stock for sale with sales actually higher than they were 12 months ago.
<img src="https://www.urban.com.au/images/2019/5/16/MoS%209.JPG" alt="">
The months of supply figure highlights why the housing market is generally falling.
Credit conditions are tight which means fewer buyers and generally leads to a slower rate of sales.
Although vendors have responded by bringing fewer new properties to the market, total stock for sale remains elevated leading to a heightened months of supply figure.
CAMERON KUSHER is the head of research for the Australian branch of CoreLogic
Kusher regularly posts on the <a href="https://www.corelogic.com.au/taxonomy/corelogic-people/cameron-kusher" target="_blank">CoreLogic website</a>.
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Australian housing supply reaches seven year high: Cameron Kusher

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One of regional New South Wales’ most stately historic manors has sold for $2.15 million.
<a href="http://ecomms.raywhite.com/collect/click.aspx?u=jRYOrR8N39QzG/Nyy8oj1LLoitAzgxBr7RUZbICQ9GnmXJi34Z7r2YdPK/H5V+ifO1VLKjZA45tsQTIf/pNXfKDhK+4yRRVaKl9RfjnywceksNafShs6MpQJuwp4dMtr&amp;rh=ff004855efa71633f9527e59d94cbd8afeee785a" target="_blank" rel="noopener noreferrer" data-auth="NotApplicable">Hurstville</a>, an 1861 country house in Goulburn, was offered through Ray White Goulburn agent Justin Gay, who had held the previous regional record of $1.15 million six years ago with a $1.15 million under 4000 square metres.
The buyers were from farming land at Stubbo, just over a four hour drive north of Goulburn, and purchased the property to be closer to family.
“Farming and earth moving is their history,” Gay said.
“Many years ago the gentleman used to stay around the corner in a big boarding house-like accommodation, and fell in love with Hurstville. He was at the auction of the property when it was derelict and sold previously, and had kept his eyes on it over the years.” 
Sydney-based sellers Peter Caucino and Yvonne Aris extensively renovated Hurstville after purchasing it in 2004 from the Anglican Church, when it was six rundown flats.
<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/2019/3/12/PRINT_img_5306-img_5308-r1.jpg" alt="">
The five-bedroom house, on a 2567 square metre parcel of land, contains formal living rooms, two studies, a wine cellar, garden room and vast entertaining terrace.
The interiors feature chandeliers, fireplaces, bay windows, soaring 3.6 metre ceilings, French doors, marble benchtops and stone floors.
The Victorian Italianate house was designed for Anne Hurst, the widow of the wealthy Methodist Minister, The Reverend Benjamin Hurst, who died in 1857.
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Historic Goulburn manor Hurstville sold for $2.15 million

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The residential house price record at Palm Beach, the popular weekender spot for Sydney's well-heeled, is set to be broken.
There's a guide of $23 million to $25 million for Palm Haven, the vast Barrenjoey Road estate of Phillip Esplin, the late lawyer and founder of Esplins Solicitors.
It's been in the Esplin name since the late 1980s when they spent $900,000 on one block before spending a further $1.3 million next door to create the sprawling 2,075 sqm waterfront property.
<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/2019/3/11/Esplin2.jpg" alt="">
They commissioned architect Phillip Cox to design the double brick and timber home in 1990. It went on to win the HIA Award for Design and Building Excellence.
Set on the exclusive Illuka laneway, the Australian style home features a number of formal and casual living and dining areas which open to deep verandahs.
It has one of the few tennis courts in the area.
<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/2019/3/11/Esplin3.jpg" alt="">
LJ Hooker Palm Beach agent David Edwards has the listing.
The Palm Beach record stands at $24 million when Gretel Packer secured the family bungalow which was handed to her as part of the breakup of her father, the late media tycoon Kerry Packer's, vast fortune.
The biggest transacted home sale come in 2012 when Kalua, the luxury $22 million property nearby which was bought by car dealer Laurie Sutton in 2012 for the trophy home, Kalua.
Kalua also has a tennis court.
 
 
 
 
 
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Palm Haven at Palm Beach listed with record hopes

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Crest, a luxury Dover Heights new build looking across Sydney Harbour, has been listed with suburb record hopes.
The <a href="https://www.realestate.com.au/property-house-nsw-dover+heights-130653750" target="_blank">modern Raleigh Street home</a> has a guide of $13 million to $14 million. 
The former 1970s home last traded for $4.5 million in 2015 when sold by Giuliano "Jules" Di Bartolomeo, the former chief executive officer of blind and shade manufacturing company Kresta Holdings.
The home on 575 sqm was knocked down and Crest was built, an opulent three level mansion with smart home automation.
<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/2019/3/6/Raleigh2.jpg" alt="">
Designed to offer views from every angle, Crest's living spaces are wrapped in balconies and alfresco terraces, one opening to an infinity pool with views across the whole of the city and the harbour.
The home's top level is dedicated to four ensuited bedrooms, including a master bedroom with marble adorned ensuite.
The marble kitchen takes centre stage in the entry level living spaces. It features Gaggenau inclusions and gas appliciances plated with gold.
The kitchen, living and dining areas are met with frameless floor to ceiling glass.
<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/2019/3/6/Raleigh3.jpg" alt="">
The Agency's Matthew Lahood is marketing the home in conjunction with Domain Group's Nick Dellis.
It's set to smash the Dover Heights record set two years ago when 7's <a href="/news/larry-emdur-secures-dover-heights-record-price">Morning Show host Larry Emdur</a> sold his clifftop family home to celebrity accountant Anthony Bell for $11.5 million.
Cresit the second home in a week that's been listed with suburb record hopes.
The Cliff House, the <a href="/news/dover-heights-the-cliff-house-set-for-suburb-record">luxury Dover Heights clifftop home</a>, has been listed with a guide of $11 million to $12 million.
 
 
 
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