ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

&nbsp;

<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

&nbsp;

There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Joel Robinson

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

<section data-element_type="section" data-id="b086848">
Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.

They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.

The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.
</section>

<section data-element_type="section" data-id="534a164">
Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.

“Melbourne is regaining momentum,"&nbsp;Stevens said.

"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.

“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."

<img alt="Kokoda" data-entity-type="file" data-entity-uuid="9a8de51d-8092-480a-8b7e-e081816692c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-29%20at%208.54.27%E2%80%AFAM.png?VersionId=VRHpV5.6beOu2cieKHWrw3ErMPuVOAuj" />

Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.

Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.

“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”

Kokoda Property will now progress concept design ahead of a future planning process.
</section>

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.

In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.

“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.

"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

[smartcode_project:default project_id=108747 project_image_fid=193023]

Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.

Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.

[smartcode_project:default project_id=108747 project_image_fid=284864]

Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.

Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.

"This is paramount in the current market," Pezet says.

Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.

[smartcode_project:default project_id=108747 project_image_fid=190743]

One of the biggest drawcards to Lagoon has been the size of the apartments.

"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.

"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

Lagoon is set to complete construction in mid-2026.

[smartcode_project_cta:default project_id=108747]

Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

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

<html><body>
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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