Australia's leading visionary placemakers,&nbsp;<a href="https://www.apartments.com.au/developers/walker-corporation">Walker&nbsp;Corporation</a>, has unveiled an exclusive collection of four dual-level penthouses at <a href="https://www.apartments.com.au/new-apartments/sol-by-walker-maroochydore-first-avenue-maroochydore-qld-4558">SOL by Walker</a>, redefining luxury living within the heart of the vibrant Maroochydore City Centre.

Positioned atop the precinct’s tallest residential tower, The Penthouse Collection crowns SOL’s first stage and comprises four three and four-bedroom + MPR residences designed to capture uninterrupted views across the Coral Sea, Maroochy River, Point Cartwright and the Sunshine Coast Hinterland.

[smartcode_project:default project_id=147777 project_image_fid=358857]

Each penthouse is arranged across two levels, with upper-level multi-purpose spaces opening to expansive wraparound terraces and private rooftop plunge pools, a rare configuration in the local market that blends apartment convenience with the scale and privacy more typically associated with standalone homes. Private lift access and generous internal areas further reinforce the collection’s owner-occupier focus.

Interiors have been curated by Melbourne-based studio <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a>, with material palettes drawing directly from the Sunshine Coast’s coastal and hinterland landscapes. Founder Miriam Fanning said the design approach was grounded in a sense of place and longevity.

“Our approach aimed to capture the essence of the Sunshine Coast and the enviable ease of coastal life,” Fanning said. “The material palette draws from the changing tones of the landscape, layered with brushed metals, textured ceramic tiles and natural timber to create a sense of warmth and permanence.”

[smartcode_project:default project_id=147777 project_image_fid=358858]

Across the residences, kitchens are appointed with Onde Rossa marble benchtops, Verde Atlantis marble accents and premium Miele and Sub-Zero appliances, while bathrooms are finished in limestone with mosaic detailing. Terracotta marble defines entry spaces and private wine cellars, underscoring the bespoke nature of the interiors.

Walker Corporation Group Executive of Development Peter Saba said the exclusive collection reflects shifting demand for high-quality, low-maintenance homes that do not compromise on space, privacy or outlook.

“Our Penthouse Collection perfectly captures the essence of Maroochydore’s coastal beauty and lifestyle, setting a new benchmark for luxury city living on the Sunshine Coast with panoramic views of the region,” Saba said.

[smartcode_project:default project_id=147777 project_image_fid=3393]

“These residences cater to the growing mix of people choosing to live and invest on the Sunshine Coast, adding to the diversity of high-quality homes available at SOL by Walker. The strong waitlist and near sell-out of the first SOL tower reinforce confidence in the region’s transformation into a modern, connected coastal city.”

SOL by Walker forms part of the broader Maroochydore City Centre project, being delivered by Walker in partnership with Sunshine Coast Council and SunCentral. Once complete, the precinct will introduce new residential, commercial and retail offerings to the city centre, supported by major public investment ahead of the 2032 Olympic Games.

Construction of SOL’s first tower is well underway, with completion targeted for late 2027, while Tower 2 is expected to follow in early 2028.

[smartcode_project_cta:default project_id=147777]

Joel Robinson

Rare new Maroochydore penthouses revealed at SOL by Walker

<a href="https://www.apartments.com.au/developers/mirvac">Mirvac</a> has been developing residential property across Australia for more than five decades. Over the past 10 years, the ASX-listed developer has placed a strong emphasis on sustainability, championed through its This Changes Everything initiative, while more recently diversifying its portfolio with an expansion into the build-to-rent sector.

Central to Mirvac’s approach in recent years has been a focus on how residents will not only enjoy their apartments, but how well each development supports day-to-day lifestyle needs. <a href="https://www.apartments.com.au/new-apartments/trielle-at-yarra-s-edge-docklands-16-point-park-crescent-docklands-vic-3008">Trielle</a>, Mirvac’s latest instalment within its Yarra’s Edge precinct on the Docklands waterfront, is arguably the developer’s most amenity-rich project to date.

With extensive facilities designed for both work and leisure, residents could technically spend an entire day within the tower without needing to leave. Two dedicated spaces cater specifically to working from home: The Biblioteca and The Mills Place Work From Home Pods.

&nbsp;

[smartcode_project:default project_id=114216 project_image_fid=3781]

The Biblioteca, a library designed for quiet work and reading, occupies a peaceful corner of Trielle overlooking the Promenade Grove and Point Park. The Mills Place Work From Home Pods, located on the ground floor, offer bookable office spaces and work pods available for short sessions or full-day use.

With the working day covered, the building’s amenity extends seamlessly into leisure and downtime, just a lift ride away.

One of the most striking inclusions in Trielle’s extensive amenity offering is The Oasis Wellness Club, a verdant urban rainforest complete with a stream-inspired water feature, located seven storeys above the Yarra’s Edge promenade. Designed in collaboration with luxury spa expert Naomi Gregory, The Oasis delivers a Scandinavian-inspired wellness experience, offering residents a tranquil, resort-like setting designed to accommodate spa-style treatments and contrast hydrotherapy as part of daily rituals.

&nbsp;

[smartcode_project:default project_id=114216 project_image_fid=360958]

The wellness offering also includes a biophilic gym equipped with state-of-the-art equipment, along with a yoga and Pilates studio, sauna, hot magnesium pool, cold plunge, 25-metre indoor pool and a spa.

Trielle also places a strong emphasis on socialising. Among the most indulgent spaces is The Salone Piano Bar, an intimate lounge featuring richly textured interiors and north-facing river views. Positioned just 14 metres from the river’s edge, the space invites residents to unwind to the sounds of a self-playing piano.

[smartcode_project:default project_id=114216 project_image_fid=3777]

Adjacent to the piano bar is the Chef’s Table dining room, designed for private dinner parties and featuring a striking natural stone table and an impressive wine fridge. Residents can book the space via the building’s dedicated concierge service or through the integrated building app.

Additional amenities include a cinema room, games room with adjoining teppanyaki barbecue and alfresco space, golf simulator, sunken fire pit, and even a dedicated dog wash bay. Mirvac’s in-house construction arm is tracking toward a mid-2027 completion, delivering what is set to be one of Melbourne’s most comprehensive and impressive residential amenity offerings.

[smartcode_project:default project_id=114216 project_image_fid=361041]

The strong response from buyers to Trielle’s facilities has influenced Mirvac’s broader Melbourne pipeline. At its nearby development, <a href="https://www.apartments.com.au/new-apartments/the-albertine-by-mirvac-melbourne-31-queens-lane-melbourne-vic-3004">The Albertine</a>, located just off St Kilda Road opposite Albert Park Lake, the Mirvac Design team has again placed a strong emphasis on lifestyle amenity, carefully scaled to suit the building’s density.

At The Albertine, health and wellness take centre stage through The Circadian Club, a suite of well-being-focused facilities including a swimming pool, magnesium spa, sauna, cutting-edge gymnasium, and yoga studio, all designed to support residents’ physical and mental health.

[smartcode_project:default project_id=138659 project_image_fid=361042]

Residents of The Albertine are offered an elevated experience with The Elysian Room, a private dining room located on Level 10. Flowing seamlessly onto The Terrace, this outdoor retreat captures panoramic Melbourne views and is wrapped in lush, ASPECT Studios–designed landscaping of native plants and ferns, forming a serene garden oasis above the city.

Mirvac topped out The Albertine in late 2025 and is targeting completion of the 98-apartment development in mid-2026.

Mirvac’s amenity-first approach reshapes apartment living in Melbourne

The first tranche of residents has moved into <a href="https://www.apartments.com.au/new-apartments/highett-common-37-graham-road-highett-vic-3190">Highett Common</a>, Victoria’s first medium-density, Net Zero-targeted masterplanned community in the heart of Bayside.

Developer <a href="https://www.apartments.com.au/developers/sunkin-property-group">Sunkin Property Group</a> has completed the first two buildings, North Lane and Park House, within the landmark 9.3-hectare precinct. Four hectares of the well-connected site have been reserved for public parkland, including one hectare dedicated to a children’s playground and social spaces, and a further three hectares retained as a conservation reserve to protect native species and enhance the local environment.

Sunkin’s construction arm, <a href="https://www.apartments.com.au/builders/sk-construction">SK Construction</a>, is now progressing the next stage of residences as part of the Mews Collection, as the team prepares to launch the most boutique building within the neighbourhood. The latest release, Habitat, comprises just 57 one, two, and three-bedroom apartments, with pricing starting from under $600,000. Designed by <a href="https://www.apartments.com.au/architects/clarke-hopkins-clarke">Clarke Hopkins Clarke</a>, Habitat has been conceived as a refined expression of bayside living, placing nature, community and design longevity at its core.

[smartcode_project:default project_id=108019 project_image_fid=351719]

“Habitat at Highett Common is an exclusive offering meticulously designed to reflect the character of the local Bayside area,” said Scott Jessop, Head of Sales &amp; Marketing at Sunkin Property Group. “It’s a highly considered release within a precinct that continues to gain momentum on every front.”

Connection to nature has guided the architectural response, with apartments oriented to maximise natural light, outlooks and indoor–outdoor flow. Balconies and terraces extend living spaces into the surrounding landscape, reinforcing the project’s strong relationship with its parkland setting.

“Apartments have been designed to maximise this connection to nature from indoor to outdoor spaces through adjacent balconies and terraces, and proximity to public parks and open spaces,” said Clarke Hopkins Clarke Partner Toby Lachlan. “Highett Common as a whole was designed to maximise connection to nature and a Bayside lifestyle, and Habitat is really at the heart of that.”

[smartcode_project:default project_id=108019 project_image_fid=331187]

Habitat also occupies a central social position within the precinct, directly connected to Highett Common’s new library and café. These community amenities have been designed to encourage daily interaction and foster a genuine neighbourhood feel.

Interiors continue the theme of warmth and longevity, with light-filled layouts, timber detailing and carefully selected materials. Buyers can personalise their homes through a range of customisation options, while kitchens act as the centrepiece of each apartment. Options include sculptural or freestanding island benches, paired with Bosch appliances and induction cooktops.

Clarke Hopkins Clarke Associate Interior Designer Michelle Cavicchiolo said the interiors were designed with a timeless sensibility. “The materials, fixtures and fittings have been selected for longevity,” she said. “All of these features, along with functional apartment layouts, contribute to a premium aesthetic.”

[smartcode_project:default project_id=108019 project_image_fid=300055]

Beyond Habitat, residents will enjoy access to a growing suite of shared amenities across Highett Common, including indoor and outdoor pools, a gym, wellness areas, cinema and resident lounge. Highett Station is just two minutes away, providing easy access to Melbourne’s CBD, while the cafés, shops and dining along Highett Road add everyday convenience.

For prospective buyers, the timing is compelling. Off-the-plan purchasers may be eligible for stamp duty savings of up to $85,000, while changes to the First Home Owners Guarantee Scheme from October 2025, including higher price thresholds and the removal of income caps, are expected to broaden access to Bayside living.

“There’s never been a better time to take advantage of our newest stage,” Jessop said. “With a wealth of customisation available, buyers can truly create the home of their dreams in one of Melbourne’s most desirable middle-ring Bayside suburbs.”

[smartcode_project:default project_id=108019 project_image_fid=300066]

The arrival of the first residents has been timed to coincide with the launch of the Highett Common Connect app, reinforcing the precinct’s strong focus on connection and community from day one. Designed to simplify daily life, the app brings building information, shared amenities and community activity into one easy-to-use platform. From booking facilities and receiving building updates to accessing move-in guides, safety procedures and appliance manuals, residents have everything they need at their fingertips.

The app also supports social connection, allowing residents to view and join community events, organise interest groups, and engage through a community hub and marketplace. Practical features such as maintenance reporting, real-time notifications and a shared calendar help streamline everyday living and support a more connected community.

[smartcode_project_cta:default project_id=108019]

Highett Common takes shape as first residents move in

Design-driven apartment developer <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> has unveiled its most prestigious collection of residences at <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a>, a new nature-led neighbourhood being delivered on an unrepeatable 11,700-square-metre site neighbouring the heritage-listed Rippon Lea Estate.

The latest and final release, The Garden Pavilion, is the jewel of the garden precinct. Comprising just 22 residences, and the largest apartments in the development, the collection is housed within its own low-rise building, one of six buildings across the precinct designed by <a href="https://www.apartments.com.au/interior-designers/woods-bagot">Woods Bagot</a>. The architecture is defined by a tiered form wrapped in cascading greenery, reinforcing the project’s strong connection to its surrounding landscape.

[smartcode_project:default project_id=136535 project_image_fid=288412]

Marking the next chapter in an ongoing collaboration with Milieu, award-winning design studio <a href="https://www.apartments.com.au/interior-designers/flack-studio">Flack Studio</a> have delivered an interior design scheme rich in expressive materials with an intriguing use of colour and meticulous detailing, designed to compliment a considered selection of furnishings and art.&nbsp;

Three-bedroom residences, each with either two or three car spaces, start from $2,145,000 and feature terraces that wrap around the entire apartment. The two four-bedroom penthouses are the crowning jewel of both the Garden Pavilion collection and the wider Elsternwick Gardens neighbourhood.

[smartcode_project:default project_id=136535 project_image_fid=361035]

Priced at $6.75 million, the luxury penthouse includes six private and secure garage spaces, two-and-a-half bathrooms, separate sunrooms, and a feature fireplace in the living room, opening onto a private, landscaped terrace complete with an integrated outdoor kitchen, swimming pool, and sweeping views across the neighbouring Rippon Lea Estate gardens.

Milieu is creating a garden-focused project designed to feel like an extension of the Rippon Lea Gardens, which date back to the early 19th century. Residents will enjoy private, direct access to the gardens via a gated entryway, accessible only by key fob, ensuring the precinct does not become a public thoroughfare. This level of private access is a point of difference unmatched by any other residential project in Melbourne.

[smartcode_project:default project_id=136535 project_image_fid=361034]

The gardens at Elsternwick Gardens have been curated by multi-disciplinary design studio, OCULUS with over 40% of the site dedicated to landscaping and green space.&nbsp; Once completed, the gardens will be maintained by the gardeners of the National Trust, the team responsible for the exquisite adjoining gardens of Rippon Lea Estate. Future residents will also enjoy private access to the neighbouring gardens during their opening hours.&nbsp;

Residents will also have private access to an extensive suite of wellness amenities, including a gym, Pilates and yoga studios, infrared saunas, mineral pools, and a golf simulator. Shared resident lounges, workshops and pet care facilities further enhance the sense of community within the precinct.

[smartcode_project:default project_id=136535 project_image_fid=288420]

Consistent with the broader development, Garden Pavilion is entirely fossil-fuel-free and shaped around passive design principles. Cross-flow ventilation, high levels of insulation, heat pump hot water systems and thermally broken double glazing aim to reduce energy consumption, while electric vehicle infrastructure and a carbon-neutral energy supply reflect Milieu’s commitment to future-focused living. Rainwater harvesting, waste-stream separation and significant planting further reinforce the project’s sustainability credentials.

The Garden Pavilion release follows the success of the first two offerings, Ripponlea Terrace and Gordon Place, where apartments were secured predominantly by local owner-occupiers and downsizers.

Milieu Founder and Managing Director Michael McCormack describes Elsternwick Gardens as “a once-in-a-lifetime opportunity to build something truly special,” pointing to the project’s extensive community engagement and its landscape-led response to the site’s historic character.

Construction commenced last year, with Brady Constructions targeting completion in early 2027.

[smartcode_project_cta:default project_id=136535]

Milieu launches The Garden Pavilion, Elsternwick Gardens’ most prestigious release

Plans have been revealed for the new city centre at Bradfield,&nbsp;offering the first detailed look at how one of the key development sites around the new Western Sydney Aerotropolis could take shape as the city centre evolves.

Project management and construction management firm&nbsp;Creative Vision&nbsp;filed the plans for development on behalf of Bradfield Corporation.

The 20,000 sqm site at 135 Badgerys Creek Road will home a new large-scale residential, commercial and civic precinct designed to anchor early growth in the Bradfield City Centre.

<img alt="First look: Mixed-use development proposed for Bradfield’s future city centre" data-entity-type="file" data-entity-uuid="6716793f-94eb-4897-994f-c7d7c56b87a2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bradfield%20da%201.png?VersionId=UvOngnIxqXO1Q3vtTn5UjB.JKRkZ.Gcd" />

The concept application seeks approval for a mixed-use residential and commercial development comprising multiple buildings arranged around new public spaces, pedestrian connections and internal streets. According to the submitted design documentation, the proposal is intended to establish a "high-density urban core that supports both employment and housing outcomes within the Western Sydney Aerotropolis."

The development includes a substantial residential component, around 400 apartments, alongside commercial uses such as offices, retail and services, with buildings ranging in height to form a defined skyline and a strong street presence along key movement corridors. Full-scale architectural renders included in the design report illustrate a cluster of mid- to high-rise forms with articulated facades, deep setbacks and landscaped podiums.

<img alt="First look: Mixed-use development proposed for Bradfield’s future city centre" data-entity-type="file" data-entity-uuid="1e097164-71ac-406f-87a6-cf49538c31f0" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bradfield%20da%202.png?VersionId=lFTgCjE2Q9BRewayz4_ksufCPSPjCmM." />

In outlining the urban design intent, the Architectural Design Report by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a> notes that the proposal “has been structured to create a connected, walkable precinct that prioritises public domain, legibility and long-term flexibility as Bradfield grows.” The report adds that the arrangement of buildings and open spaces is intended to “support a mix of residential and employment uses while allowing future stages to respond to evolving market and infrastructure conditions.”

Public open space forms a central part of the concept, with landscaped plazas, green links and pedestrian routes designed to integrate with the broader Bradfield City Centre masterplan. The design report states that the open space network is conceived as “a civic framework for the precinct, providing places for gathering, movement and everyday activity rather than residual space between buildings.”

<img alt="First look: Mixed-use development proposed for Bradfield’s future city centre" data-entity-type="file" data-entity-uuid="de475ae8-9856-436c-9003-115c40110c71" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bradfield%20da%203.png?VersionId=RjCNTGInRYsgN.8jKaKjvpZJ.V6ZcWTL" />

The application has been lodged as a State Significant Development, reflecting both the scale of the proposal and its strategic importance within the Aerotropolis. As a concept SSDA, the submission focuses on overall land use, building envelopes, heights and public domain outcomes, with detailed design to be resolved through future stages.

Bradfield’s future city centre revealed ahead of Western Sydney International Airport's 2026 opening 

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.
 
 
 
</body></html>

jrobinson-rf4aSBido9

Victorian property values defy gloomy price predictions: REIV

<html><body>
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="">
<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_2%20REIV%20MELBOURNE.jpg" alt="">
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>
<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/2020/6/3/21_20201HarMap%20002%20copy.jpg" alt="">
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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Note: Year-on-year growth is based on rolling annual figures
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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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Annual Change
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Metropolitan Melbourne
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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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-3.1%
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Unit and Apartment
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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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-0.4%
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Regional Victoria
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House
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$408,500
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$405,000
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0.9%
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$410,000
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$395,000
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3.8%
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$302,500
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$282,500
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7.1%
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$295,000
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$290,000
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1.7%
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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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Inner Melbourne
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House
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$1,379,500
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$1,342,500
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2.8%
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$1,381,000
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$1,526,000
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-9.5%
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Unit and Apartment
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$601,000
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$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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