Longstanding Gold Coast developer Raptis has acquired a prime development site on Surf Parade for its next Broadbeach apartment project.

Progressing towards completion of <a href="https://www.apartments.com.au/new-apartments/the-sterling-broadbeach-6-8-george-avenue-broadbeach-qld-4218">The Sterling Broadbeach</a>, 90 apartments on nearby George Avenue, <a href="https://www.apartments.com.au/developers/raptis">Raptis</a>, led by second-generation family man Evan Raptis, has picked up a block on the corner of Surf Parade and First Avenue.

The site had been earmarked for a luxury apartment project with 33 full-floor apartments across a 37-storey tower. Raptis will go back to the drawing board and create a building more appropriate for the site. The development application will be lodged later this month.

Evan Raptis told Apartments.com.au the site ticks all the boxes.

"Broadbeach is a suburb we've developed several buildings over the years. Surf Parade ticks all the boxes for the type of apartment development we want to deliver."

Raptis had several pre-lodgement meetings with council to ensure they are aligned in the development.

<img alt="Raptis" data-entity-type="file" data-entity-uuid="f0d58573-07a4-47a8-9f5e-fbf35fb03dc3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-03-05%20at%204.58.23%E2%80%AFPM.png?VersionId=iczZEd_4_o4UL0PHMPJGfy_q3tv96J5i" />

Surf Parade has emerged in recent years as one of the most popular streets in Broadbeach for development.

South East Queensland developer Mosaic Property Group kicked it off with Marella by Mosaic. Bassar Group sold out Infinity on the street, while for its&nbsp;first Gold Coast development, Polycell grabbed a Surf Parade site for <a href="https://www.apartments.com.au/new-apartments/the-rochester-broadbeach-143-surf-parade-broadbeach-qld-4218">The Rochester</a>, which is nearly sold out.

Melbourne-based developer Hirsch &amp; Faigen recently launched its fourth Gold Coast project on the exclusive strip. The Eveleigh Broadbeach will have 100 apartments across a 31-storey building designed by Rothelowman.

GV Property Group site development specialists Antonio Mercuri and Luke Reaby, who both amalgamate sites and sell shovel-ready sites to developers up and down the Gold Coast, sold Surf Parade to Raptis.

Joel Robinson

Raptis secures prime Surf Parade site for next Broadbeach apartment development

Less than two years after breaking ground, Gardner Vaughan Group is celebrating the topping out of Bask, its second development in the exclusive coastal enclave of Bokarina on Queensland’s Sunshine Coast.&nbsp;

Located only minutes from the beachfront, the two seven-storey luxury apartment towers, known individually as Mydas and Caretta, offer a selection of one-to-four-bedroom residences with views of Lake Kawana, the Glasshouse Mountains, and Bokarina Beach.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333359]

Gardner Vaughan Group Commercial Director Sam Gardner said the milestone marks the home stretch for construction, with first residents expected to be able to move in from Spring 2026.&nbsp;

“This is a significant milestone in bringing this development to life and represents our confidence in this region’s long-term growth and appeal,” Gardner said.&nbsp;

“With 85 per cent of apartments already sold, buyers are joining an established, coastal village that offers the very best of the Sunshine Coast – seasonally patrolled surf beaches, renowned restaurants, and links to established health and retail.&nbsp;

“The final collection of three- and four- bedroom apartments range in size from 127sqm to 300sqm, each with two or three secure car parks and storage, and with construction fast approaching completion we don’t expect the last few apartments to remain on the market for long.”&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=333362]

Local restaurateur Luke Stringer, who co-owns and manages the award-winning Bocca Italian and Playa Mexican restaurants in Bokarina, has lived in the beachside suburb for 18 months and worked there for more than three years, and said the beachside suburb was thriving.&nbsp;

“It’s fair to say Bokarina is finally stepping into the sun and there’s a lot to love about the place,"&nbsp;Stringer said.

"It’s such a great community, where you see the same smiling faces every morning and everything’s within easy reach – it’s the perfect hub in the middle of the Sunshine Coast.

“When we first opened Bocca Italian, we were the lone restaurant, but it’s been amazing to see how the area has grown. The more venues that open, the busier it gets for everyone. When Playa Mexican opened its first Saturday night, Bocca had a record night and Playa was packed too, which blew us away how everyone is thriving.&nbsp;

“There’s a great energy around the place now, and people are really embracing Bokarina as a food and lifestyle destination.”&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=363368]

Stringer joined other buyers at Bask Bokarina and the Gardner Vaughan Group team to celebrate the topping out at a special event in February.&nbsp;

Located in Kawana Waters, midway between Caloundra and Maroochydore, Bokarina locals enjoy scenic walking paths around Lake Kawana, playgrounds, beachfront boardwalk and parklands, alongside all the convenience of a masterplanned beachside community.&nbsp;

“You see people jogging or swimming in the morning, then grabbing coffee at the cafes, people are really embracing the area and all this growth is bringing more people to Bokarina,” Stringer added.&nbsp;

To take advantage of the vistas, each of the 135 apartments at Bask is designed with full size windows and high ceilings that provide an abundance of natural light.&nbsp;

Prices for the remaining three-bedroom apartments start at $1,599,000 and four-bedroom apartments start at $3,149,000.&nbsp;

[smartcode_project:default project_id=141609 project_image_fid=363369]

The mixed-use development also features ground-level retail space for cafés, dining options and boutiques, including the soon-to-be-opened ‘Corner Shop’, by the team behind Noosa’s well known ‘Organika’.

Sam Gardner said Gardner Vaughan Group’s 37-year history building and developing across South East Queensland has contributed to the success of its second development in Bokarina, which follows the recently completed Zinc Apartments.&nbsp;

“We care how people live and this is reflected in the way we approach the design and delivery of every development,” he said. “Furthermore, as a builder-developer we have full control over the construction program and our 100 per cent completion rate is something people can draw confidence from.”&nbsp;

Founded by civil engineers Guy Gardner and Darryl Vaughan in 1989, the family-owned business has evolved from a consultancy firm to an award-winning builder-developer, with projects across the Sunshine Coast, Moreton Bay, Brisbane and the Gold Coast.

[smartcode_project_cta:default project_id=141609]

Gardner Vaughan Group tops out Bask Bokarina apartments

Prolific Melbourne developer <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> has launched its fourth new Gold Coast development in as many years.

<a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a>, led by Daniel Faigen and backed by Eddie Hirsch, co-founder of United Petroleum, has unveiled The Eveleigh, on a prime 1,100 sqm site at 7-9 Surf Parade in the heart of Broadbeach.

<a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a> will deliver 100 apartments across 31 levels, making it the company’s largest Gold Coast project to date. It builds on the success of its three earlier developments, <a href="https://www.apartments.com.au/buildings/hemingway-1267-1273-gold-coast-highway-palm-beach">The Hemingway in Palm Beach</a> and <a href="https://www.apartments.com.au/buildings/emerson-kirra-100-musgrave-street-coolangatta">The Emerson at Kirra</a>, both completed, and <a href="https://www.apartments.com.au/new-apartments/yves-mermaid-beach-7-9-mermaid-avenue-mermaid-beach">Yves Mermaid Beach</a>, which is nearing completion.

[smartcode_project:default project_id=149670 project_image_fid=360966]

The announcement of The Eveleigh affirms the company’s sustained confidence in the Gold Coast market which continues to remain undersupplied. It also increases the value of Hirsch &amp; Fa​igen’s Gold Coast development portfolio to more than $700 million since the company first entered the market in 2021 with Hemingway.

The company has enlisted its preferred architecture firm Rothelowman to design The Eveleigh, which will offer a thoughtfully curated lifestyle, including a substantial wellness precinct, communal recreation areas, children’s play spaces, work-from-home facilities, and shared lounge and dining areas.

[smartcode_project:default project_id=149670 project_image_fid=360965]

Designed for the prime market demographic of downsizers and interstate lifestyle investors in mind, The Eveleigh has been crafted to offer an increasingly rare blend of affordable luxury in a tightly held market. Uniquely positioned in the heart of the Gold Coast’s most sought-after lifestyle suburb of Broadbeach, the project will also boast uninterrupted beach and hinterland views.

The Surf Parade site is just a short walk to the bustling Broadbeach dining and retail precinct, Pacific Fair, The Star Gold Coast and convention centre, and an easy stroll to Kurrawa Beach and the recreational amenity of Pratten Park on the Broadbeach foreshore.

[smartcode_project:default project_id=149670 project_image_fid=360975]

“We’re excited to be proceeding with our fourth project on the Gold Coast in what is certain to become the new luxury precinct in Broadbeach,” says Anthony Bueti, the CFO of Hirsch &amp;a​mp; Faigen and a shareholder of the group.

“With the likes of Mosa​ic and Abedian &amp;a​mp; Co also launching quality projects in the area, the transformation will cement Broadbeach as the premier lifestyle and amenity suburb on the Gold Coast.

"After four years in the Gold Coast market, and with three successful projects completed, The Eveleigh is the product of everything we have learned to love about the Gold Coast and it will be an incredible addition to our growing portfolio in one of the most vibrant property markets in the country. We continue to remain very confident in the high-end Gold Coast property market.”

Urban Activation Director Matt George is handling sales for The Eveleigh, having sold out The Emerson, The Hemingway, and Yves, all before construction was completed.

Melbourne builder MAXCON has already commenced construction on The Eveleigh. They are forecasting a mid-2028 completion.

[smartcode_project_cta:default project_id=149670]

Hirsch & Faigen unveils The Eveleigh in Broadbeach

Two years after securing development approval for the final stage of its award-winning Thornton Precinct on the doorstep of Penrith Station, Urban Property Group is set to launch <a href="https://www.apartments.com.au/new-apartments/mayfair-on-penrith-172-lord-sheffield-circuit-penrith-nsw-2750">Mayfair on Penrith</a>, around 400 apartments designed to reflect two of Sydney’s most iconic structures.

The builder-developer has continued refining the design plans for the two-building development on a significant 8,280 sqm site on Sheffield Circuit, recognising the importance of the prime parcel as one of the closest developable sites to the station.

UPG enlisted architecture firm SJB to design the project. The team said they drew inspiration from both the General Post Office in Martin Place and East Circular Quay to help shape the design. The two-level colonnade, in particular, reflects the famous GPO building, which dates back to the 1860s.

[smartcode_project:default project_id=136726 project_image_fid=362014]

There will be one-, two-, and three-bedroom apartments on offer, with interiors by Cox Architecture. Residences will sit above a retail podium featuring hospitality and lifestyle operators such as One Playground and Volcano’s Steakhouse, contributing to an activated ground plane within the broader Thornton precinct.

A communal rooftop with a pool and views towards the Blue Mountains will provide shared open space for residents. The development is positioned between Ron Mulock Oval and Westfield Penrith, with the Nepean River and Great River Walk also nearby, placing daily amenity and green space within walking distance.

&nbsp;

[smartcode_project:default project_id=136726 project_image_fid=362015]

Mayfair is being delivered by Urban Property Group, a family-owned developer and builder with nearly 40 years’ experience across Sydney. The project will be the first in Penrith to be offered with Resilience Insurance’s 10-year Latent Defects Insurance (LDI) policy, which Urban Property Group has adopted across a number of its recent developments. The developer also has a 4.5-star iCIRT rating, one of the best ratings in market providing further confidence to buyers.

Urban Property Group CEO Patrick Elias said providing additional assurance to off-the-plan buyers has become increasingly important.

“Anything we can do to give confidence in our product is a plus,” Elias told Apartments.com.au.

“Consumers are a lot more weary and a lot more concerned in buying off the plan than they ever have been. They’re making their single large investment, which is their home, and providing confidence is something that we feel is paramount.”

[smartcode_project:default project_id=136726 project_image_fid=362020]

The LDI policy provides a 10-year warranty covering structural defects, with independent inspections carried out during construction and protection for owners if defects arise post-completion.

Mayfair represents Urban Property Group’s sixth and final development within Thornton, consolidating the masterplanned precinct immediately east of the station.

The developer, which builds its own projects, has already commenced construction. SRM Residential is handling the sales campaign.

[smartcode_project_cta:default project_id=136726]

Urban Property Group to close the curtain on award-winning Thornton precinct with Mayfair on Penrith release

Investor appetite for Queenstown apartments is strengthening as supply constraints and four-season tourism continue to underpin demand across the alpine region.

In Frankton’s masterplanned Remarkables Park precinct,&nbsp;<a href="https://www.apartments.com.au/developers/safari-group">Safari Group</a>’s 141-apartment Mountain Oak development is attracting repeat and yield-focused buyers seeking exposure to that market dynamic.

Brandon, who specifically targeted Queenstown as an investment location, said the combination of price point and limited new supply made Mountain Oak stand out.

“It is a quality product in a location that struggles to densify,” he said, referencing Queenstown’s land-locked geography and development limitations.

<img alt="From slopes to markets: Mountain Oak connects residents to the best of Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/658d4f_48c3ec1ae5df4a2cab7d23c07c7f51b3~mv2.jpg?VersionId=27K8oQ4ExDN8Yu70VHDa9Olq59XU36m3" />

Having spent significant time in the region, Brandon pointed to its global reputation and consistent visitation as key fundamentals.

“Queenstown is a known destination from people all over the world. The place is land locked and there are issues building there. It’s also busy all year round.”

That four-season economy, driven by skiing and snowboarding in winter and hiking, cycling and water-based tourism in summer, was also central to Sherry’s decision to invest.

“I believe the four-season tourism has major appeal as it would ensure that the property will not remain empty, unlike other areas in NZ,” she said.

<img alt="From slopes to markets: Mountain Oak connects residents to the best of Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Living_WEB.jpg?VersionId=3LglY20Jp_MAzQYdvwODRWvtjL.cZcqI" />

Mountain Oak has been structured to respond to that sustained demand, with 365-day visitor accommodation consent underpinning a mix of one-bedroom, flexi, two-bedroom and dual-key configurations that can operate as either short-term visitor accommodation or long-term rental housing. Dual-key apartments comprise two self-contained residences on one title, allowing owners to generate dual income streams or occupy one side while leasing the other.&nbsp;

Under Safari Group’s optional visitor accommodation management model, owners receive 60 per cent of the annual income generated by their apartment, with 24/7 on-site management, guest services and listing exposure included. Independent appraisal modelling suggests gross yields of up to 15 per cent for certain two-bedroom configurations, based on estimated nightly rates and occupancy assumptions.

For Brandon, that flexibility aligned with his broader investment strategy.

“It helps to know that I can have it managed either way,” he said. “My focus is on purchasing high yield cashflow properties.”

<img alt="Investors back Safari Group’s Mountain Oak Apartments as Queenstown’s four-season economy drives demand" data-entity-type="file" data-entity-uuid="c786ba7f-f974-4ce3-9833-1bcd9f2938d6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/658d4f_ae3c049f388f4c13bf801649d91cbb4a~mv2%20%281%29.jpg?VersionId=J25uvzGdvtFaXGzuwz28ewJ9wWzbtvur" />

He selected a one-bedroom flexi configuration, citing both yield and adaptability.

“I work remotely and can travel to most places and work. I enjoy making spaces that work for the lifestyle that I live and it seems that others also enjoy it.”

Ranging from 54 to 57 square metres, the one-bedroom flexi incorporates a separate multipurpose room suited to a home office, additional storage, or accommodation for ski gear and seasonal equipment, an increasingly relevant inclusion for buyers balancing remote work and alpine travel.

Interiors feature underfloor heating in bathrooms and a heat pump in the main living area, supporting year-round comfort. Upper-level apartments are positioned to maximise natural light, with sliding windows and balustrades in select residences enhancing outlook and ventilation. Units are available in both light and dark interior schemes.

<img alt="Investors back Safari Group’s Mountain Oak Apartments as Queenstown’s four-season economy drives demand" data-entity-type="file" data-entity-uuid="8f9492e9-8ee0-4aae-856c-8996ed9d9a06" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/658d4f_7d066f5200024c1aa472d01e2dc776ed~mv2.jpg?VersionId=MLR5xn6fLqPdBi7vxyRT.1zhQX3Ln0Ev" />

Sherry, a repeat Safari Group buyer, said her previous experience with the developer provided confidence to secure another apartment.

“Their developments have always finished on time, the quality has been high, and I didn't feel that my investment may be at risk,” she said. “Knowledge of the developer and our two existing Safari apartments gave us the confidence to proceed with this one.”

Safari Group has delivered more than 2,000 hotel units and residential apartments nationally and is now undertaking its fifth Queenstown development, reinforcing buyer confidence in delivery capability.

Although Sherry was not initially targeting Queenstown due to its price profile, prior visits reshaped her view of the market.

“I absolutely love this region and believe it is a major tourist attraction, which led me to the decision to invest.”

<img alt="How Mountain Oak Apartments draws holiday home buyers to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" />

Construction commenced in June 2025, with completion anticipated by mid-2027. Apartments are priced from NZ$639,000, and the development carries Overseas Investment Office exemption approval, allowing non-residents to purchase.

For both investors, the purchase represents a balance of income generation and long-term portfolio positioning in a tightly held alpine market.

“I firmly believe my investments in Safari developments are a combination of all these elements,” Sherry said. “The location of this project enabled me to diversify.”

As Queenstown continues to attract year-round visitation alongside constrained housing supply, Mountain Oak’s dual-key flexibility, optional on-site management structure and established developer track record are resonating with investors seeking exposure to the region’s resilient tourism economy.

Investors back Safari Group’s Mountain Oak Apartments as Queenstown’s four-season economy drives demand

Reiv

<html><body>
Melbourne’s market has been described as one of the best for sellers in years – with all the stars aligned at present, according to the REIV CEO Geoff White.
He said that the Spring market was delivering everything home sellers need: solid price growth, high clearance rates and strong buyer demand.
In the September quarter, the city’s median house price increased 3.2 per cent to $740,000 Melbourne-wide, he said.
“The median price increase is taking place in tandem with a Spring clearance rate of close to 80 per cent, the highest in seven years,” he said.
“Everything is aligned for sellers, who are benefitting from strong buyer confidence and record low interest rates.”
Melbourne’s inner and middle suburbs were the main growth drivers in the September quarter with house prices in these regions up 4.2 and 3.5 per cent respectively.
After two successive quarters of strong price growth, the city’s outer suburbs recorded more moderate growth of 1.1 per cent.
He added that the top growth suburbs this quarter were widespread across the city – from Seaford in the outer south east to Williamstown and Werribee in the west.
Mr White said that Langwarrin recorded the city’s largest price growth with the median house price increasing 20 per cent over the quarter to $561,000. He added that outer suburbs remain attractive to many home buyers and investors.
“Melbourne’s more affordable areas continue to appeal to buyers seeking the value and space that the outer suburbs offer,” he said. Meanwhile, apartment prices across the city also increased in the September quarter with the metropolitan median up 2.1 per cent to $545,500.
Mr White said that although listings have not reached the peaks of 2015, the current median price and excellent clearance rates indicates that the market is as healthy as ever.
“The market shows no signs of slowing down. The September quarter was stronger than expected and the market is only expected to improve with more than 4,000 auctions forecast for October.”
QUARTERLY OVERVIEW – SEPTEMBER QUARTER 2016
<table style="width: 495px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td colspan="3" valign="bottom" nowrap width="257">
Top 10 Growth Suburbs (Quarterly)
</td>
<td valign="bottom" nowrap width="90">
 
</td>
<td valign="bottom" nowrap width="64">
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
 
</td>
<td valign="bottom" nowrap width="141">
 
</td>
<td valign="bottom" nowrap width="92">
 
</td>
<td valign="bottom" nowrap width="90">
 
</td>
<td valign="bottom" nowrap width="64">
 
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
 
</td>
<td width="141">
Suburb
</td>
<td width="92">
Sep-16 Median
</td>
<td width="90">
Jun-16 Median
</td>
<td width="64">
Quarterly Change
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
1
</td>
<td valign="bottom" nowrap width="141">
LANGWARRIN
</td>
<td nowrap width="92">
$561,000
</td>
<td nowrap width="90">
$467,550
</td>
<td nowrap width="64">
20.0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
2
</td>
<td valign="bottom" nowrap width="141">
WILLIAMSTOWN
</td>
<td nowrap width="92">
$1,353,750
</td>
<td nowrap width="90">
$1,140,500
</td>
<td nowrap width="64">
18.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
3
</td>
<td valign="bottom" nowrap width="141">
SEAFORD
</td>
<td nowrap width="92">
$605,500
</td>
<td nowrap width="90">
$516,500
</td>
<td nowrap width="64">
17.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
4
</td>
<td valign="bottom" nowrap width="141">
FOOTSCRAY
</td>
<td nowrap width="92">
$855,000
</td>
<td nowrap width="90">
$745,000
</td>
<td nowrap width="64">
14.8%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
5
</td>
<td valign="bottom" nowrap width="141">
FRANKSTON
</td>
<td nowrap width="92">
$504,000
</td>
<td nowrap width="90">
$440,000
</td>
<td nowrap width="64">
14.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
6
</td>
<td valign="bottom" nowrap width="141">
MALVERN EAST
</td>
<td nowrap width="92">
$1,914,000
</td>
<td nowrap width="90">
$1,681,000
</td>
<td nowrap width="64">
13.9%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
7
</td>
<td valign="bottom" nowrap width="141">
KEW
</td>
<td nowrap width="92">
$2,153,500
</td>
<td nowrap width="90">
$1,907,500
</td>
<td nowrap width="64">
12.9%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
8
</td>
<td valign="bottom" nowrap width="141">
BRUNSWICK
</td>
<td nowrap width="92">
$1,056,000
</td>
<td nowrap width="90">
$935,000
</td>
<td nowrap width="64">
12.9%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
9
</td>
<td valign="bottom" nowrap width="141">
GLEN WAVERLEY
</td>
<td nowrap width="92">
$1,290,000
</td>
<td nowrap width="90">
$1,150,000
</td>
<td nowrap width="64">
12.2%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="24">
10
</td>
<td valign="bottom" nowrap width="141">
ALTONA NORTH
</td>
<td nowrap width="92">
$788,000
</td>
<td nowrap width="90">
$702,500
</td>
<td nowrap width="64">
12.2%
</td>
</tr>
</tbody></table>
 
 
 
</body></html>

j.ballantyne1990-6AQqhLzZaK

Langwarrin tops Melbourne's price growth climb: REIV

<html><body>
Victorian property values are continuing to defy gloomy price predictions and are holding firm, the Real Estate Institute of Victoria president Leah Calnan says.
The REIV's September quarter statistics suggest only metropolitan houses and regional units contracted over the quarter.
"Despite six months of COVID-19, lockdowns and moratoriums, the Victorian Property Market continues to prosper with properties remaining more valuable than they were in 2019” Ms Calnan said.
“Our members have faced so many challenges in 2020, their work and efforts are evidenced in the September Quarter results.”
“REIV market statistics are based on results directly sourced from agents and government records and provide a true picture of Victorian real estate”
<img src="https://www.urban.com.au/images/2020/12/melb%20v%20region.png" alt="">
Apartments in Melbourne rose 0.2 per cent over the September quarter, to a $622,500 median, up 5.4 per cent over the last 12 months.
Melbourne house values declined -1.7 per cent, down to a median $846,000, but are still 7.4 per cent up over the last 12 months.
It's been Melbourne's middle ring which have suffered the greatest losses, down -2.8 per cent on the quarter to take its median below then $1 million mark.
House values in inner Melbourne and outer Melbourne rose over the September quarter, but units went backwards in outer Melbourne (-0.3 per cent), compared to a big jump in inner Melbourne (+1.8 per cent).
<img src="https://www.urban.com.au/images/2020/12/inner%20melb.png" alt="">
Houses in regional Victoria were the best performing market, recording 5.1 per cent growth for the quarter, taking houses to a $442,500 median. 
Regional units fell -3.1 per cent over the quarter, to a $327,000 median, but are eight per cent up over the last 12 months.
Transactions in Melbourne plummeted by 31 per cent compared to the June quarter due to the tighter restrictions in place, however sales in regional Victoria soared by 15 per cent.
 
 
 
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Victorian property values defy gloomy price predictions: REIV

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The Real Estate Institute of Victoria is calling on the Victoria government to allow one-on-one inspections of properties.
The VIC peak body says inspections will help save a number of Victorians from financial distress and homelessness.
REIV chief executive Gil King says what they are asking for is "absolutely safe".
“We understand that the larger gatherings at public auctions and open houses are a risk", King says.
"That is not what we are asking for.  
"Private one on one inspections are absolutely safe.”
King says online auctions aren't happening because people can not see the house they want to buy in person.
"The Victorian property market has come to a standstill with zero auctions over the weekend", King added.
"This is about people, buyers, vendors and tenants alike.   
"Allowing private inspections means that the market will be ready for revival when the time is right.”
Metro Property Management director Leah Calnan, who is the REIV's chairperson of the property management chapter committee, says inspections can be conducted safely.
“The real estate industry has been prepared with systems, processes and procedures to allow safe inspections by appointment.”
“We see everyday the impact this hard lockdown is having on our tenants and owners; we cannot expect people to lease or buy without seeing the property.”
“It will be a legal nightmare to have someone buy or rent and then want to exit the contract when they eventually see the property.”
 
 
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REIV call for inspection by appointment as a safe and simple answer

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Rental homes are now more accessible in Melbourne as vacancy rates relaxed slightly in June, while the rental market tightened further in Regional Victoria.
The REIV recorded a healthy 3.0 per cent vacancy rate in Melbourne while Regional Victoria recorded a further tightening of the rental market with 1.8 per cent.
The slight increase in vacancy rate did not impact the median rents with Melbourne median rental prices for houses now at $473 per week, $13 more than the previous month.
Median rents for Metropolitan units have also increased, from $410 per week in May to $420 per week for June.
Rental prices in regional Victoria are holding firm, with median house rents remaining unchanged on $350 per week for the past six consecutive months, regional units are sitting at $300 per week, a $5 increase on May.
The relaxation of vacancy rates could be largely attributed to inner city areas as smaller properties move from short term rentals like Airbnb. Fall in visitors, international students has meant that more property owners are returning to the traditional rental market.
REIV President Leah Calnan Melbourne’s rental market continues to grow.
“Melbourne’s rental market is holding firm in the face of the Coronavirus pandemic creating unique conditions.” Ms Calnan said.
“The relaxing of vacancy rates means there are more homes available for people to rent, and there has never been a more important time to have a roof over your head.”
“This rental data, combined with the annual growth shown in the June Quarterly Medians, demonstrates the strength and resilience of the Victorian property market.”
<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/2020/7/31/1_REIV%20MELBOURNE.jpg" alt="">
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Source: REIV 
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Rents hold steady as vacancy rates relax in Melbourne

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Rental prices have fallen in Metropolitan Melbourne following a month of some improvement in vacancy rates across the State.
The monthly rental data from the REIV shows median rents for houses are now more affordable at $470 per week, down from February’s $480 per week, but still higher than the same time last year.
Metropolitan units are also now cheaper to rent, from $450 per week in February down to $430 per week.
The Regional Victorian vacancy rate climbed from 1.8% to 1.9% over the month, however median house rents remain unchanged on $350 per week, with units rising to $295 per week.
In Geelong, house rental prices shrunk by $10 to $400 per week, the Ballarat region remained steady on $340 per week, while house rents increased in the Bendigo region by $7 to sit at $350 per week.
Although there has been some improvement in vacancy rates with Metropolitan Melbourne recording 2.3% for two consecutive months, Victoria needs vacancy rates of 3%- 4% to maintain a healthy market.”
The numbers released today reflect the strong market in the lead up to the State of Emergency, and are consistent with our March quarter median prices.
REIV President Leah Calnan said Victoria’s that the temporary measures in place due to COVID-19 make it challenging to gauge the real situation but the underlying strength of the Victorian property market is undeniable.
“Victoria’s rental accommodation supply is growing, more rental homes are now available but there remains a need for more properties to be listed to cater for growing demand.” Ms Calnan said.
“The State Government needs to work more closlely with property owners, to help build a reliable supply of rental accommodation in Victoria.
 
<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/2020/6/3/17_REIV.jpg" alt="" width="337" height="499">
Source: REIV Rental Data
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Victoria vacancy rates improving: REIV

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The REIA Housing Affordability Report is out for the March quarter and shows a marginal improvement across the country to housing affordability.
The proportion of income required to meet loan repayments decreased by 0.1 percentage points to 34.7 per cent over the quarter, according to the report.
In his introduction to the report REIA president, Adrian Kelly outlined the highlights of the findings.
“With the exception of Victoria, Tasmania and Western Australia, housing affordability improved across the states and territories with the Australian Capital Territory having the largest improvement 1.1 percentage points,” said Mr Kelly.
“Rental affordability improved in the March quarter with the proportion of income required to meet rent payments decreasing to 23.5 per cent, a decrease of 0.1 percentage points over the quarter.
“Rental affordability improved in Queensland, Western Australia and the Northern Territory, but declined in New South Wales, Victoria, South Australia, Tasmania and the Australian Capital Territory.”
When it comes to loans the total number has declined compared to the December quarter of the previous year.
“This is not unusual for the first quarter of the calendar year, however there was a 4.2 per cent increase on the number of new loans from the same quarter of 2019,” said Mr Kelly.
“The number of first home buyers decreased to 27,082, a decrease of 10.7 per cent during the quarter but an increase of 23.1 per cent compared to the March quarter 2019.
“With the introduction of the First Home Buyer Deposit scheme on 1 January we expect that share of first home buyers will continue to grow.”
The report shows the number of first home buyers decreased in all states and territories over the March quarter.
The largest decrease was in the Australian Capital Territory (-22.2 per cent).
Compared to the corresponding quarter 2019, the number of first home buyers increased in all states and territories, with the largest increase in the Australian Capital Territory (57.6 per cent).
The next edition of the report will reflect the impact the current COVID19 pandemic has had on affordability.
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<h2>State by State</h2>
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NSW
Over the March quarter, housing affordability in New South Wales improved with the proportion of income required to meet loan repayments decreasing to 42.5 per cent, a decrease of 0.4 percentage points over the quarter but an increase of 4.5 percentage points compared with the corresponding quarter 2019.
With the proportion of income required to meet loan repayments 7.8 percentage points higher than the nation’s average, New South Wales remained the least affordable state or territory in which to buy a home.
Over the March quarter, rental affordability in New South Wales declined marginally with the proportion of income required to meet median rents increasing to 27.5 per cent, an increase of 0.1 percentage points over the quarter but a decrease of 0.7 percentage points compared with the corresponding quarter 2019.
In New South Wales, the number of loans to first home buyers decreased to 6,622 a decrease of 11.0 per cent over the quarter but an increase of 33.3 per cent compared to the March quarter 2019.
Of the total number of first home buyers that purchased during the March quarter, 24.5 per cent were from New South Wales while first home buyers make up 32.9 per cent of the state’s owner-occupier market.
The average loan to first home buyers increased to $502,552, an increase of 2.4 per cent over the quarter and an increase of 19.8 per cent compared to the same quarter last year.
The number of dwelling loans in New South Wales decreased to 20,105, a decrease of 17.5 per cent over the quarter but an increase of 8.5 per cent compared to the March quarter 2019.
The average loan size increased to $595,315, an increase of 0.4 per cent over the quarter and an increase of 22.2 per cent compared to the corresponding quarter of 2019. New South Wales has the largest average loan size across the country, 22.4 per cent higher than the national average.
Victoria
Over the March quarter, housing affordability declined in Victoria with proportion of family income devoted to meeting average loan repayments increasing to 37.5 per cent, an increase of 1.0 per cent over the quarter and an increase of 2.9 per cent when compared to the corresponding quarter in the previous year.
Rental affordability in Victoria declined over the quarter with the proportion of income required to meet median rent increasing to 23.0 per cent, an increase of 0.4 percentage points over the quarter but a decrease of 0.1 percentage points over the previous year.
The number of loans to first home buyers in Victoria decreased to 8,624, a decrease of 16.0 per cent over the quarter but an increase of 24.4 per cent compared to the March quarter 2019.
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Of the total number of first home buyers that purchased during the March quarter, 31.8 per cent were from Victoria while first home buyers make up 40.3 per cent of the state’s owner-occupier market.
In the March quarter 2020, the average loan to first home buyers was $437,871, an increase of 2.3 per cent over the quarter and an increase of 14.0 per cent compared to the March quarter 2019. In Victoria, the total number of loans decreased to 21,396, a decrease of 15.8 per cent during the quarter but an increase of 4.3 per cent compared to the March quarter 2019.
The average loan size was $514,741 over the quarter, an increase of 4.1 per cent and an increase of 18.8 per cent when compared to the corresponding quarter 2019. Victoria’s average loan size is 5.9 per cent higher than the national average.
Queensland
Housing affordability improved in Queensland over the March quarter with the proportion of income required to meet home loan repayments decreasing to 30.4 per cent, a decrease of 0.2 percentage points over the quarter but an increase of 0.8 percentage points when compared to the March quarter 2019.
Rental affordability in Queensland improved over the quarter with the proportion of the median family income required to meet the median rent decreasing to 22.0 per cent, a decrease of 0.1 percentage points over the quarter but remained stable compared with the same quarter 2019.
Over the March quarter, the number of loans to first home buyers in Queensland decreased to 5,419, a decrease of 5.9 per cent over the quarter but an increase of 20.8 per cent compared to the same quarter of 2019.
Of all Australian first home buyers over the quarter, 20.0 per cent were from Queensland while the proportion of first home buyers in the state’s owner-occupier market was 34.1 per cent.
The average loan size to first home buyers increased to $374,036, an increase of 3.4 per cent during the quarter and an increase of 12.9 per cent compared to the March quarter 2019.
The number of loans decreased in Queensland to 15,911, a decrease of 11.1 per cent over the quarter but an increase of 5.4 per cent compared to the March quarter of the previous year.
The average loan size increased to $414,154, an increase of 0.4 per cent during the quarter and an increase of 12.0 per cent compared to the March quarter 2019. Queensland’s average loan size is 14.8 per cent lower than the national average.
South Australia
Over the March quarter, housing affordability in South Australia improved with the proportion of income required to meet monthly loan repayments decreasing to 27.9 per cent, a decrease of 0.1 percentage points over the quarter but an increase of 0.2 percentage points compared to the March quarter 2019.
Rental affordability in South Australia declined over the quarter with the proportion of income required to meet rent payments increasing to 22.5 per cent, an increase of 0.2 percentage points over the quarter but a decrease of 0.3 percentage points compared to the March quarter 2019.
Over the March quarter, the number of loans to first home buyers in South Australia decreased to 1,493, a decrease of 10.5 per cent over the quarter but an increase of 8.7 per cent compared to the March quarter 2019.
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Of all Australian first home buyers over the quarter, 5.5 per cent were from South Australia while the proportion of first home buyers in the state’s owner-occupier market was 25.9 per cent.
The average loan size to first home buyers increased to $334,226, an increase of 1.4 per cent over the quarter and an increase of 8.2 per cent when compared to a year earlier.
In South Australia, the total number of loans decreased to 5,764, a decrease of 11.5 per cent over the quarter and a decrease of 4.5 per cent compared to the March quarter 2019.
The average loan size increased to $358,171, an increase of 0.8 per cent over the quarter and an increase of 10.3 per cent compared to the same time last year.
South Australia’s average loan size is 26.3 per cent lower than the national average.
Western Australia
Over the March quarter, housing affordability in Western Australia declined with the proportion of income required to meet loan repayments increasing to 25.0 per cent, an increase of 0.1 percentage points over the quarter and an increase of 0.2 percentage points compared to the March quarter 2019.
Rental affordability in Western Australia improved during the March quarter with the proportion of family income required to meet the median rent decreasing to 16.6 per cent, a marginal decrease of 0.1 percentage points over the quarter and a marginal increase of 0.1 percentage points compared to the year before.
The number of first home buyers in Western Australia decreased to 3,547 in the March quarter, a decrease of 2.3 per cent over the quarter but an increase of 12.0 per cent compared to the same time last year.
Of all Australian first home buyers over the quarter, 13.1 per cent were from Western Australia while the proportion of first home buyers in the state’s owner-occupier market was 45.9 per cent.
The average loan to first home buyers increased to $353,115, an increase of 2.2 per cent over the quarter and an increase of 9.1 per cent when compared to the March quarter 2019.
The total number of loans in Western Australia decreased to 7,733, a decrease of 6.7 per cent over the quarter but an increase of 4.3 per cent compared to the March quarter 2019.
The average loan size increased to $406,246, an increase of 2.0 per cent over the quarter and an increase of 10.3 per cent compared to the March quarter 2019.
Western Australia’s average loan size is 16.4 per cent lower than the national average.
Tasmania
Housing affordability in Tasmania declined over the March quarter with the proportion of income required to meet home loan repayments increasing to 29.6 per cent, an increase of 0.4 percentage points over the quarter and an increase of 2.8 percentage points from the March quarter 2019.
Rental affordability in Tasmania also declined over the quarter with the proportion of income required to meet median rents increasing to 30.5 per cent, an increase of 0.5 percentage points over the quarter and an increase of 1.2 percentage points compared with the March quarter 2019.
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The number of first home buyers in Tasmania decreased to 564, a decrease of 0.5 per cent over the quarter but an increase of 11.9 per cent compared to the same quarter of the previous year.
Of all Australian first home buyers over the quarter, 2.1 per cent were from Tasmania while the proportion of first home buyers in the state’s owner-occupier market was 32.6 per cent.
The average loan to first home buyers increased to $302,128, an increase of 3.6 per cent over the quarter and an increase of 6.2 per cent compared to the March quarter 2019.
The total number of new loans for dwellings in Tasmania decreased to 1,732, a decrease of 8.3 per cent over the quarter and a decrease of 16.0 per cent compared to the corresponding quarter 2019.
The average loan size increased to $343,649, an increase of 2.8 per cent over the quarter and an increase of 21.0 per cent compared to the same time last year.
Tasmania continues to have the lowest average loan size across the country. Tasmania’s average loan size is 29.3 per cent lower than the national average.
Northern Territory
Housing affordability in the Northern Territory improved with the proportion of income required to meet loan repayments decreasing to 20.2 per cent in the March quarter, a decrease of 0.8 percentage points over the quarter and a decrease of 1.5 percentage points when compared to the March quarter 2019.
Rental affordability in the Northern Territory improved over the quarter with the proportion of income required to meet the median rent decreasing to 20.6 per cent, a decrease of 0.6 percentage points over the quarter and a decrease of 0.3 percentage points compared to the March quarter 2019.
The number of loans to first home buyers in the Northern Territory decreased to 200, a decrease of 8.7 per cent over the March quarter but an increase of 10.5 per cent compared to the March quarter 2019.
Of all Australian first home buyers over the quarter, 0.7 per cent were from the Northern Territory while the proportion of first home buyers in the Territory’s owner-occupier market was 44.9 per cent.
The average loan size to first home buyers increased to $366,500, an increase of 7.3 per cent over the quarter and an increase of 5.0 per cent compared to the March quarter 2019.
The number of new loans in the Northern Territory decreased to 445, a decrease of 15.1 per cent over the quarter but an increase of 6.7 per cent compared to the March quarter 2019.
The average loan size decreased to $346,517, a decrease of 2.6 per cent over the quarter but an increase of 1.8 per cent compared to the March quarter 2019. The Northern Territory’s average loan size is 28.7 per cent lower than the national average.
Australian Capital Territory
Housing affordability in the Australian Capital Territory improved over the March quarter with the proportion of income required to meet home loan repayments decreasing to 21.2 per cent, a decrease of 1.1
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percentage points over the quarter and a decrease of 0.5 percentage points compared to the corresponding quarter 2019.
Rental affordability in the Australian Capital Territory declined over the March quarter with the proportion of income required to meet the median rent increasing to 19.0 per cent, an increase of 0.2 percentage points over the quarter but remained stable compared to the March quarter 2019.
The number of loans to first home buyers in the Australian Capital Territory decreased to 613, a decrease of 22.2 per cent over the quarter but an increase of 57.6 per cent compared to the March quarter 2019.
Of all Australian first home buyers over the quarter, 2.3 per cent were from the Australian Capital Territory while the proportion of first home buyers in the Territory’s owner-occupier market was 32.6 per cent.
The average loan for first home buyers increased to $446,330, an increase of 4.8 per cent over the quarter and an increase of 14.8 per cent compared to the corresponding quarter 2019.
The number of loans in the Australian Capital Territory decreased to 1,883, a decrease of 20.9 per cent over the quarter but an increase of 20.9 per cent compared to the March quarter 2019.
The average loan size decreased to $458,471, a decrease of 3.8 per cent over the quarter but an increase of 6.8 per cent compared to the March quarter 2019.
The Australian Capital Territory’s average loan size is 5.7 per cent lower than the national average.
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Housing affordability improves marginally in the March Quarter: REIA

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REIV President Leah Calnan has condemned the actions of a former member of the REIV who recently pleaded guilty to two counts of trafficking cocaine.
Kristiana Karakostas (pictured) faced the Melbourne County Court last week over drug trafficking charges, where she pleaded guilty. She will be sentenced later this month.
In light of the guilty plea, the REIV has quickly terminated membership of Ms Karakostas.
REIV President Leah Calnan said, “the REIV does not tolerate illegal or unethical behaviour; drugs create so much pain and suffering in our community.” 
“The REIV has acted swiftly in terminating the membership of Ms Karakostas and revoking the Novice Auctioneer of the Year Award which she won in 2019, she added.
 
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REIV strip auctioneer of membership due to drug trafficking charges

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Victoria’s housing market is bouncing back from the recent downturn, according to the latest REIV quarterly median price data.
A springtime boost is helping to restore the housing market with house prices up by 4.5% in the latest REIV September Median Quarterly, while the price of units has grown by 3.9%.
Melbourne’s growth of 4.5% is the highest quarterly result since March 2017.
Melbourne’s housing growth was led by the northern suburbs with Preston achieving the highest quarterly growth with 25.7%, closely followed by the neighbouring Coburg on 20.8%.
Melbournes highest growth was in middle Melbourne, where house prices grew by 8.3%.
Doreen overtook Pakenham and Cragieburn to achieve the most number of housing sales during the September Quarter. 
Donvale remains Melbournes most consistent suburb, being the only area to achieve positive growth both quarterly and yearly.
The growth was shared across the board in regional Victoria with unit prices increasing by a massive 7.1%.
Bendigo is the top regional housing performer, scoring 11.9% quarterly and 29.7% annual growth. 
While Churchill and Moe have been crowned as the two most affordable suburbs in regional Victoria.
REIV Presidents Leah Calnan said the September quarter has brought the news prospective sellers have been waiting to hear.
“Enthusiasm is growing as prices surge and properties are being snapped up more quickly, this is the perfect time to get on the market,” Calnan said.
“Warmer spring weather, lower interest rates and easier loaning protocols have resulted in significant growth for Victoria’s real estate sector.
“Growing prices and increasing sales are great news for everybody, and our market is in the midst of a much-needed recovery.
“The September Quarterly results make for great reading, but we are not out of the woods yet.”
September Quarter 2019 Median Prices
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Median Prices, Seasonally Adjusted
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Sep-19 Quarter
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Jun-19 Quarter
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Quarterly Change
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12 months to Sep-19 Quarter
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12 months to Sep-18 Quarter
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House
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$830,000
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$794,000
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4.5%
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$810,000
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$835,500
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$613,500
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$590,500
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3.9%
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$595,000
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$597,500
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$408,500
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$405,000
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$395,000
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$302,500
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$282,500
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$295,000
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$290,000
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<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
</tr>
<tr>
<td valign="top" nowrap>
House
</td>
<td valign="top" nowrap>
$1,379,500
</td>
<td valign="top" nowrap>
$1,342,500
</td>
<td valign="top" nowrap>
2.8%
</td>
<td valign="top" nowrap>
$1,381,000
</td>
<td valign="top" nowrap>
$1,526,000
</td>
<td valign="top" nowrap>
-9.5%
</td>
</tr>
<tr>
<td valign="top" nowrap>
Unit and Apartment
</td>
<td valign="top" nowrap>
$601,000
</td>
<td valign="top" nowrap>
$587,500
</td>
<td valign="top" nowrap>
2.3%
</td>
<td valign="top" nowrap>
$590,000
</td>
<td valign="top" nowrap>
$595,000
</td>
<td valign="top" nowrap>
-0.8%
</td>
</tr>
<tr>
<td valign="top" nowrap>
Middle Melbourne
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
</tr>
<tr>
<td valign="top" nowrap>
House
</td>
<td valign="top" nowrap>
$983,000
</td>
<td valign="top" nowrap>
$907,500
</td>
<td valign="top" nowrap>
8.3%
</td>
<td valign="top" nowrap>
$925,000
</td>
<td valign="top" nowrap>
$1,005,000
</td>
<td valign="top" nowrap>
-8.0%
</td>
</tr>
<tr>
<td valign="top" nowrap>
Unit and Apartment
</td>
<td valign="top" nowrap>
$680,500
</td>
<td valign="top" nowrap>
$654,000
</td>
<td valign="top" nowrap>
4.1%
</td>
<td valign="top" nowrap>
$655,000
</td>
<td valign="top" nowrap>
$661,000
</td>
<td valign="top" nowrap>
-0.9%
</td>
</tr>
<tr>
<td valign="top" nowrap>
Outer Melbourne
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
</tr>
<tr>
<td valign="top" nowrap>
House
</td>
<td valign="top" nowrap>
$658,500
</td>
<td valign="top" nowrap>
$631,000
</td>
<td valign="top" nowrap>
4.4%
</td>
<td valign="top" nowrap>
$645,000
</td>
<td valign="top" nowrap>
$675,000
</td>
<td valign="top" nowrap>
-4.4%
</td>
</tr>
<tr>
<td valign="top" nowrap>
Unit and Apartment
</td>
<td valign="top" nowrap>
$519,500
</td>
<td valign="top" nowrap>
$496,000
</td>
<td valign="top" nowrap>
4.7%
</td>
<td valign="top" nowrap>
$505,500
</td>
<td valign="top" nowrap>
$515,000
</td>
<td valign="top" nowrap>
-1.8%
</td>
</tr>
<tr>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
</tr>
<tr>
<td valign="top" nowrap>
 
</td>
<td valign="top">
Sep-19 Quarter
</td>
<td valign="top">
Jun-19 Quarter
</td>
<td valign="top">
Quarterly Change
</td>
<td valign="top">
12 months to Sep-19 Quarter
</td>
<td valign="top">
12 months to Sep-18 Quarter
</td>
<td valign="top">
Annual Change
</td>
</tr>
<tr>
<td valign="top" nowrap>
Auctions
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
</tr>
<tr>
<td valign="top" nowrap>
House
</td>
<td valign="top" nowrap>
$978,000
</td>
<td valign="top" nowrap>
$925,500
</td>
<td valign="top" nowrap>
5.7%
</td>
<td valign="top" nowrap>
$950,000
</td>
<td valign="top" nowrap>
$950,000
</td>
<td valign="top" nowrap>
0.0%
</td>
</tr>
<tr>
<td valign="top" nowrap>
Unit and Apartment
</td>
<td valign="top" nowrap>
$695,000
</td>
<td valign="top" nowrap>
$652,000
</td>
<td valign="top" nowrap>
6.6%
</td>
<td valign="top" nowrap>
$666,000
</td>
<td valign="top" nowrap>
$670,000
</td>
<td valign="top" nowrap>
-0.6%
</td>
</tr>
<tr>
<td valign="top" nowrap>
Private Sale
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
<td valign="top" nowrap>
 
</td>
</tr>
<tr>
<td valign="top" nowrap>
House
</td>
<td valign="top" nowrap>
$727,000
</td>
<td valign="top" nowrap>
$715,500
</td>
<td valign="top" nowrap>
1.6%
</td>
<td valign="top" nowrap>
$730,000
</td>
<td valign="top" nowrap>
$750,000
</td>
<td valign="top" nowrap>
-2.7%
</td>
</tr>
<tr>
<td valign="top" nowrap>
Unit and Apartment
</td>
<td valign="top" nowrap>
$554,000
</td>
<td valign="top" nowrap>
$542,000
</td>
<td valign="top" nowrap>
2.2%
</td>
<td valign="top" nowrap>
$545,000
</td>
<td valign="top" nowrap>
$539,000
</td>
<td valign="top" nowrap>
1.1%
</td>
</tr>
</tbody></table>
 
</div>
</body></html>

Victoria's residential prices bouncing back 

<html><body>
The December quarter saw a drop in Metropolitan Melbourne’s median house price of 3.7 per cent to $796,500 while Regional Victoria’s went up by 2.5 per cent to $411,000.
Regional Victoria’s property market was the top performer in the 2018 calendar year, with a 5.5 per cent annual increase in the median house price to $400,000 (up from $379,000) and annual increases of more than 20 per cent in the top five towns.   The 2.5 per cent regional increase in the median house price for the December quarter was the second strongest for the year, in contrast to Metropolitan Melbourne which had its weakest quarter.
The Real Estate Institute of Victoria’s latest data reveals that greater Melbourne’s median house price increased 1.4 per cent to $826,500 (from $815,000) and the unit price increased 1.8 per cent to $597,000 (from $586,500) in the 2018 calendar year.   REIV President Robyn Waters said that despite low confidence, sluggish auction clearance rates and a 20 per cent reduction in residential property sales in the past 12 months, vendors are still getting "good prices" for their homes when they do sell.   “It might take you a bit longer to sell and you might have to put in a bit more effort, but the big picture is showing that house prices have increased slightly in Melbourne over the past 12 months,” Ms Waters said.   “Confidence is a major factor in the property market and this latest REIV data is showing that the market overall is steady, coming off an increase in the median house price of 13.2 per cent in 2017 which could not be sustained.   “The top 20 star suburbs of 2018 were all in the outer ring with most located in the expanding south east and Mornington Peninsula/Bayside areas; new transport infrastructure including Skyrail and the Monash Freeway widening are likely to have been a factor in this growth.”
Malvern down 20% to $2.1 million
Kew down 17% to $1,975,000
Toorak down 16% to $2.8 million
South Yarra down 16% to $1.6 million
Balwyn down 16% to $2 million
Brighton down 15% to $1.99 million
Source REIV December 2018 quarter   Ms Waters said properties are being tightly held in Inner Melbourne as vendors wait out this period while the markets in Outer Melbourne and Regional Victoria are stronger as buyers are inclined to snap up more affordable options.   “There is no doubt that the banks’ tighter lending conditions are contributing to this trend as are incentives for first homebuyers which encourage the purchase of affordable properties, more likely to be found in Outer Melbourne or Regional Victoria,” Ms Waters said.   “That said, there were a few inner suburbs – Malvern East, Thornbury and Hawthorn - that fared well in the last quarter of 2018 thanks to an increase in the number and value of sales from the September quarter. This is a good indication that confidence is starting to pick up in the prestige areas.   “The REIV expects Victoria’s property market to remain steady in the first half of 2019 as we await the outcome of the banking Royal Commission and Federal Election but things should begin to look up again in the second half of the year.”   “Our latest data showed some surprise quarterly increases in inland Victoria with Golden Point, Irymple and Daylesford all achieving an uplift of more than nine per cent.”
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/1/1/Strip%20ad%20keep%20up%20in%202019.jpg" alt=""></a>   The REIV claimed its property data is the most accurate and up-to-date in Victoria, collated and submitted directly by those working at the coalface.   "As the State’s peak body for real estate agents, with around 80 per cent of agencies being valued members, the REIV is uniquely placed to access this raw data which is not subject to interpretation, speculation, assumptions or third-party sources," Robyn Waters said.
Other data showed a deeper decline throughout 2018, <a href="https://www.propertyobserver.com.au" target="_blank">including the ABS</a>.
</body></html>

jchancellor-FAypfDUnLy

Metropolitan Melbourne December 2018 quarter saw property prices decline, but Outer Melbourne and Regional Victoria still rising: REIV

<html><body>
The REIV is expecting about 270 auctions in 161 suburbs this weekend, lower the normal given the Spring racing carnival.
The top auction locations this week are Craigieburn (10) and Rosebud (7), followed by Belmont and Frankston with six and five auctions respectively.
<table border="0" cellspacing="1" cellpadding="1"><tbody>
<tr>
<td>Last weekend</td>
<td>
1473 auctions (exc. 46 postponed and 91 withdrawn)
</td>
</tr>
<tr>
<td>
This weekend
</td>
<td>
270 auctions
</td>
</tr>
<tr>
<td>
This weekend last year
</td>
<td>
71% from 278 auctions
</td>
</tr>
</tbody></table>
Next weekend the auctions pick up when on there will be 1190 auctions.
The there will be a 17/18 November peak with 1430 auctions.
In three weeks’ time, 24/25 November, the auctions slip back to 1020 auctions.
A three bedroom Craigieburn house has been scheduled for auction on November 3 with $400,000 to $440,000 hopes (pictured above).
Situated at <a href="https://www.realestate.com.au/property-house-vic-craigieburn-129519378" target="_blank">36 Cimberwood Drive</a>, the low maintenance home consists of lounge room, open plan kitchen, dining, three large bedrooms with BIRs, central bright bathroom and car space..
It is centrally located close to several schools, main Craigieburn shopping centres and other general living amenities including transport.
<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/2018/11/1/craigieburn%202.jpg" alt="">
Another example in Craigieburn is a four bedroom house priced at $550,000 to $605,000 (pictured above).
It also has been scheduled for going under the hammer on November 3.
The house situated at <a href="https://www.realestate.com.au/property-house-vic-craigieburn-129206942" target="_blank">32 Montpellier Crescent</a> features two living areas, four generous-sized bedrooms, modern kitchen and alfresco with landscaped garden and great sized back yard.
It is located close to local schools, public transport, parkland and Craigieburn central shopping centre.
</body></html>

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