South East Queensland developer&nbsp;<a href="https://www.apartments.com.au/developers/gardner-vaughan-group">Gardner Vaughan Group</a>’s entry into the Gold Coast apartment market has progressed from pipeline to market, with its Chevron Island project Bronze on Chevron now formally available to purchase ahead of a planned 2029 completion.

The 119-apartment development on Mawarra Street marks the Brisbane-headquartered builder-developer’s first residential play in the Gold Coast, following its expansion south from Brisbane and the Sunshine Coast.

<a href="https://www.apartments.com.au/new-apartments/bronze-on-chevron-8-mawarra-street-surfers-paradise-qld-4217">Bronze on Chevron</a> comprises a mix of two-, three- and four-bedroom residences, with pricing starting from just over $1.5 million. The project is being delivered under Gardner Vaughan’s fully integrated model, with the group acting as both developer and builder, a structure it has consistently applied across its South East Queensland portfolio.

[smartcode_project:default project_id=107520 project_image_fid=367182]

Architecture has been designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, with landscape architecture by <a href="https://www.apartments.com.au/landscape-architect/jeremy-ferrier-landscape-design">Jeremy Ferrier</a>. The building presents as a single-tower scheme, with a focus on maximising outlook across both the Surfers Paradise skyline and the Nerang River.

Apartments have been planned with open-plan living zones extending to generous balconies, a response to the site’s dual-aspect positioning between river and ocean. Interiors follow a restrained coastal palette, with two colour schemes offered, and an emphasis on natural light and cross-ventilation.

[smartcode_project:default project_id=107520 project_image_fid=367181]

Resident amenity is concentrated across more than 1,250 sqm and includes a resort-style pool, gym, yoga lawn and rooftop entertaining areas. A function space with catering facilities forms part of the upper-level offering, alongside north- and south-facing outdoor areas.

Ground level will incorporate two retail tenancies, intended to extend the existing village character of the surrounding streets.

&nbsp;

[smartcode_project:default project_id=107520 project_image_fid=367200]

The project sits within walking distance of Thomas Drive’s established dining strip, while maintaining proximity to <a href="https://www.apartments.com.au/developments/surfers-paradise-qld-4217">Surfers Paradise</a> beach and broader Gold Coast amenity. The location, positioned on Chevron Island between the river and coastline, has increasingly attracted mid- to high-density development in recent years as the precinct evolves beyond its low-rise origins.

Gardner Vaughan’s move into the Gold Coast was first signalled in 2025, with the group identifying the region as a natural extension of its operations. Chief Executive Officer Simon Betteridge described the expansion as both “strategic and natural”, citing demand for well-designed apartments in lifestyle-driven markets.

Construction is expected to complete in early 2029.

[smartcode_project_cta:default project_id=107520]

Joel Robinson

Gardner Vaughan brings Bronze on Chevron to market as Gold Coast debut

One of the penthouses at Lily Lane, the latest stage of Carrington Place by Ellipse Property, has set a new local apartment price record.

The four-bedroom residence, purchased by a local downsizer, sold for $5.75 million—around 75 per cent higher than the previous record of $3.3 million.

Over 40 per cent of the first release of apartments at&nbsp;<a href="https://www.apartments.com.au/new-apartments/lily-lane-at-carrington-place-castle-hill-32-carrington-road-castle-hill-nsw-2154">Lily Lane</a> have already been snapped up just six weeks since it launched to the market.

&nbsp;

Located at 32 Carrington Road, <a href="https://www.apartments.com.au/developments/castle-hill-nsw-2154">Castle Hill</a> and designed by award-winning architects <a href="https://www.apartments.com.au/architects/ptw">PTW</a>, Lily Lane is directly opposite the Hills Showground Metro station. It offers a total 213 units over two 12-storey towers - a mix of 67 one-bedroom, 100 two-bedroom and 46 three-bedroom apartments - with a ground-floor retail offering.

[smartcode_project:default project_id=151821 project_image_fid=368352]

Blake Schulze, National Director – Residential at <a href="https://www.apartments.com.au/project-marketer/colliers">Colliers</a>, says around 44 per cent of buyers are&nbsp;owner occupiers, with 35 per cent being investors and 21 per cent first homebuyers.

“Developments of this calibre are very rare in the Hills District, and Lily Lane’s sales success demonstrates the depth of demand for over-sized apartments that genuinely compete with freestanding homes," Schulze says.

"We are seeing particular demand from downsizers who want to remain in the area but transition into spacious, high-quality apartment living."

On the penthouse sale, it says it shows buyers&nbsp;are prepared to pay a premium for scale, quality, and direct access to the Metro.

[smartcode_project:default project_id=151821 project_image_fid=368351]

One-bedroom apartments are sized from 50-72 sqm with prices starting at $745,000, while two-bedrooms are priced from $990,000 with sizes from 75 to 132 square metres. Three-bedroom floorplans are sized between 97 and 182 sqm,, with prices starting at $1,395,000.&nbsp;

The three remaining penthouses, spanning up to 262 sqm, are priced from $2.9 million.

Over 75 per cent of apartments include dedicated studies, multipurpose rooms or family rooms, with select layouts offering walk-in pantries and laundries. Apartments are appointed with premium Miele appliances including ovens, washing machines, dryers, gas cooktops and dishwashers, while larger residences also incorporate integrated Miele microwaves, Fisher &amp; Paykel integrated refrigerators and five-burner Miele cooktops.

[smartcode_project:default project_id=151821 project_image_fid=360285]

Lily Lane will be constructed by award-winning iCIRT-rated builder <a href="https://www.apartments.com.au/builders/decode">Decode Group</a>, with construction to commence in mid-2026 and expected to complete early 2029.

Carrington Place comprises more than 800 apartments and is being delivered across multiple stages, with completion expected in 2032. Integrated with neighbouring bushland, the project will feature over 20,000 sq, of outdoor recreational area, including a one-kilometre boardwalk to Fred Caterson Reserve.&nbsp;

The Hills Showground Metro Station is just a two-minute walk away, offering fast connectivity to Sydney’s CBD, North Sydney, Chatswood, Macquarie Park and Norwest Business Park.

[smartcode_project_cta:default project_id=151821]

Ellipse sets Castle Hill apartment record with $5.75 million Lily Lane penthouse sale

Fresh off completing its Delano Crows Nest development, Lindsay Bennelong has lodged plans for its next project, this time turning its attention to the beach.

The developer, founded by Clarendon Homes founder Peter Campbell, is proposing a 37-apartment scheme at <a href="https://www.apartments.com.au/new-apartments/17-25-ashburner-street-manly-nsw-2095">17-25 Ashburner Street</a>, Manly, positioned between the southern end of <a href="https://www.apartments.com.au/developments/manly-nsw-2095">Manly</a> Beach and East Manly Cove.

Lindsay Bennelong called on local architecture firm Platform Architects to design the new building, given their success on The Finn, Lindsay Bennelong's current luxury apartment project on North Steyne.&nbsp;

According to the Design Verification Statement by Bridie Gough of Platform Architects, the proposal “relates to the current context but also the desired future character of taller buildings suitable to the new planning controls.”

The site has been identified as a Low to Mid-Rise Housing (LMR) location, given its position within 400 metres of the Manly Town Centre E1 Business Zone. The LMR controls are intended to unlock additional housing supply in well-located areas close to public transport, allowing developers to seek increased height limits to support greater density.

“The proposal seeks to provide this increased level of housing whilst being respectful of some of the smaller scale buildings also nearby,” the statement reads.

Lindsay Bennelong Development Director Leigh Manser said the project has been carefully aligned with the intent of the LMR controls. The proposal will significantly increase housing yield on the site, replacing four houses and 10 apartments, comprising 25 bedrooms, with 37 new apartments delivering a total of 94 bedrooms.

“Sydney is in a severe undersupply, and delivering more dwellings and more bedrooms than what currently exists is exactly what the LMR policy is designed to activate,” Manser said, noting that nine of the apartments will be allocated as affordable housing for frontline workers.

“We have already commenced discussions with our community housing provider to determine the rental levels that frontline workers can realistically afford in this location,” he said. “These will need to sit well below the standard affordable housing benchmark of 20 per cent below market rent, and that has been factored into our feasibility and pricing.”

<img alt="Manly" data-entity-type="file" data-entity-uuid="ad03000f-19f9-48b4-b27d-e85ca800a1da" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%208.41.59%E2%80%AFAM.png?VersionId=a.txHwCZgbCInlQ6QXbIrI.umvW1T.r8" />

The design of the building incorporates a wave-like indentation running through the façade, referencing the nearby coastline and anchoring the building within its local context.

The&nbsp;Design Verification Statement says careful consideration has been given to the articulation of the building, ensuring the bulk is broken down to a more human scale through a defined four-storey podium."

The scheme includes a mix of one-, two- and three-bedroom apartments.

“The design ensures a high level of amenity, with apartments offering generous private open space, many with expansive views, and all with comfortable proportions."

<img alt="Bennelong" data-entity-type="file" data-entity-uuid="6a7f2812-72a1-4959-84b0-997e8cd88aed" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-30%20at%2010.15.50%E2%80%AFAM.png?VersionId=6iMxU3MkXmHVHAoNhYBjnqgka8CUZNbk" />

<a href="https://www.apartments.com.au/developers/lindsay-bennelong-developments">Lindsay Bennelong</a>&nbsp;is currently developing Finn Manly, just three full-floor luxury apartments on North Steyne. They recently welcomed residents to its 81-unit Delano Crows Nest development, a&nbsp;carefully scaled infill project designed to bridge&nbsp;<a href="https://www.apartments.com.au/developments/crows-nest-nsw-2065">Crows Nest</a>’s lively village centre with its surrounding heritage streets.

Designed by&nbsp;<a href="https://www.apartments.com.au/architects/ajc-architects">AJC Architects</a>,&nbsp;<a href="https://www.apartments.com.au/new-apartments/delano-crows-nest-27-57-falcon-street-crows-nest-nsw-2065">Delano</a>&nbsp;is arranged across three low-rise buildings, incorporating a mix of one, two, and three-bedroom apartments alongside a limited number of townhomes addressing Hayberry Lane. The architectural approach draws on the area’s Art Deco lineage, reinterpreted through contemporary detailing and framed by landscaped communal gardens.

The developer also has a development site in Maroubra.

First look: Lindsay Bennelong's new Manly apartment development revealed

Fifty-nine residences across 37 levels. No more than two per floor. With 80 per cent now sold, what remains at <a href="https://www.apartments.com.au/new-apartments/madeline-by-mosaic-broadbeach-22-mary-avenue-broadbeach-qld-4218">Madeline by Mosaic</a> is a short list.

Madeline was always conceived at a scale that sits outside the normal register of Gold Coast apartment living. The residences are half- and full-floor configurations, with the largest spanning more than 400 sqm, dimensions that place them closer to the penthouse end of the market regardless of where they sit in the building.

That scale is the organising principle of everything else: how the floorplans are laid out, how the materials read, how the connection between inside and outside works.

[smartcode_project:default project_id=150135 project_image_fid=355941]

The interiors were developed in collaboration with <a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a>, the architecture practice&nbsp;<a href="https://www.apartments.com.au/developers/mosaic-property-group">Mosaic</a> brought in as design partner for the first time on this project. The palette runs to natural stone, textured timbers, and soft metallics, materials chosen as much for their tactile quality as their appearance.

Light cleverly shifts across surfaces through the day, and the design is explicit about wanting that to be noticed. Full-height glazing runs across the primary living areas, and where the building faces east toward the ocean, those walls of glass are doing real work: framing a view corridor that the site's position directly opposite Broadbeach State School's playing fields keeps permanently open.

That outlook is the site's most consequential asset. In a suburb where new towers continue to rise, a protected view line is genuinely rare, and the Mary Avenue address secures it. Residents at Madeline will look out over open parkland rather than the rear of another building, a distinction that becomes more meaningful with each new development approved nearby.

[smartcode_project:default project_id=150135 project_image_fid=355939]

The private outdoor spaces are sized to match the residences themselves. Terraces on the upper levels frame uninterrupted ocean panoramas, and the planning ensures that living areas extend into those outdoor zones rather than treating them as separate attachments. The flow between the two is part of the design intent, not an afterthought.

Inside, the finish specification reflects the same approach. Rich stone benchtops, warm timber joinery, bespoke hardware, each element specified to hold up over time rather than read as a moment in a particular trend cycle.

[smartcode_project:default project_id=150135 project_image_fid=3409]

Beyond the residences, the amenity offering extends that register. A lap pool and sun deck anchor the outdoor space, alongside a magnesium pool, cold plunge, steam room, and sauna.

A commercial-grade gymnasium, residents' lounge, library, and boardroom round out a programme that functions more like a private members club than a standard building amenity floor.

Construction has commenced under Mosaic's in-house building arm, with completion scheduled for late 2028.

[smartcode_project_cta:default project_id=150135]

Madeline by Mosaic delivers penthouse-level living across every apartment

Developer Fortezza Group is the latest to take its new apartment development, <a href="https://www.apartments.com.au/new-apartments/the-belvedere-5-7-church-street-nelson-bay-nsw-2315">The Belvedere in Nelson Bay</a>, to the NSW Government.

Fortezza, predominantly a South East Queensland developer, is the latest to apply for State Significant Development&nbsp; status through the NSW Government's Housing Delivery Authority, a pathway becoming favoured by developers to speed up the approval process.

They are planning 57 two- and three-bedroom apartments across 5-7 Church Street and 42 Donald Street, near d'Albora Nelson Bay Marina. The diverse apartment mix has sizes from just over 80 sqm to the largest three-bedroom penthouses that reach nearly 200 sqm.

<img alt="Fortezza" data-entity-type="file" data-entity-uuid="090360e1-66d7-43ad-b686-aba81f173bf2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-04-29%20at%2010.22.40%E2%80%AFAM.png?VersionId=DMqF96eBZolqSAAAcugX0l66ueWng66m" />

Fortezza calls the project a "piece of Istria in Nelson Bay,"&nbsp;referring to the largest peninsula in the Adriatic Sea, shared by Croatia (90%), Slovenia, and Italy, which is known for its Roman history, Venetian-style coastal towns and inland hilltop villages.

They say the The Belvedere is strategically positioned at the apex of Nelson Bay, offering unrivalled views of the ocean, the bay and captivating topography of the area.

"Our commitment to maintaining the integrity of every view and sight line has been relentless," Fortezza Group says.

"Through extensive modelling and analysis, we ensure that each apartment enjoys the natural beauty of Nelson Bay, regardless of future developments. Each design element is carefully curated to harmonise with our European heritage, drawing profound inspiration from the Roman architectural marvels in Istria. The arches, the cascades of greenery and the stonework that define our project pay homage to the structures that once exemplified Roman grandeur."

Residents will have access to a pool, communal green spaces, an office and a coffee shop.

First look: Fortezza Group takes The Belvedere, Nelson Bay apartment development, to NSW Government

Rental Yields

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Perth has recorded the largest monthly rise in rental vacancies with a 0.2 percentage point climb over July, according to SQM Research. 
Year to year Perth vacancies have climbed 1.4 percent, to 10,738.
The national residential vacancies level went up during July to record a vacancy rate of 2.5 percent or 79,300 vacancies. 
<a href="/images/2016/08/24/Screen%20Shot%202016-08-24%20at%2010.26.07%20AM.png" target="_blank">Click to enlarge</a>
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Louis Christopher, managing director of SQM Research said asking rents in Canberra continue to rise; up 11.0 percent for houses and 9.8 percent for units.
"Notably, Hobart continues to record the most affordable rental accommodation with rents for houses at just $340 a week and units averaging $280 a week," he said. "Overall, vacancy rates remain steady for the major capital cities. Perth continues to be the ongoing exception with further increases in vacancies this month as the mining downturn continues to hit the economy hard. "I believe the national vacancy rate will continue to creep upwards.
"Melbourne may start to record higher vacancies next year under the weight of completed apartment developments; but for now Melbourne remains a landlord's market.
"Sydney is unlikely to record such a surge in vacancies as we believe the city's population expansion is going to absorb much of the new stock.”
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Perth landlords face a 5.2 percent rental vacancy rate: SQM 

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Combined capital city rental rates fell by 0.6 percent over the 12 months to June with rents rising in some rural areas according to CoreLogic.
CoreLogic reported falls over the year in Brisbane, Adelaide, Perth and Darwin with rental growth slowing from already low levels in most other capital cities.
<a href="/images/2016/07/29/Screen%20Shot%202016-07-29%20at%2010.40.35%20AM.png" target="_blank">Click to enlarge</a>
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Senior research analyst Cameron Kusher said while rental rates are falling in many capital city regions, today’s data suggests that in mid-sized and coastal regional markets, rental demand is picking-up, with these regions seeing a rise in migration over recent years.
“Perhaps we are seeing evidence of try-before- you-buy in these regions where people are moving into the regional areas and renting before fully committing to a purchase," he said.
“The fact that units rents are increasing in many coastal locations is potentially reflective of the recovering markets spurred on by a lower Australian dollar and an improvement across the tourism sector.” 
"For units, only three of the 25 council areas listed are located within a capital city (Hobart, Pittwater and Wyndham). 
"NSW dominates the list with 13 regions with the number of council areas across the remaining states recorded at: six in Vic, two in Qld, one in SA, and one in WA and two in TAS. Most of the top 25 regions listed are coastal lifestyle markets."
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Rental growth stronger in regional Australia than capital city markets: CoreLogic

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Combined capital city home values have increased substantially since the financial crisis in 2008 however, this is largely being driven by Sydney and Melbourne with value growth muted in most other capital cities.
As the financial crisis hit in 2007/08, Australia’s combined capital city housing markets experienced a -6.1% decline in home values between March and December 2008.  Due to aggressive interest rate cuts by the Reserve Bank (RBA) and the introduction of the boost to the First Home Owners Grant, further home value declines were averted.  In fact, home values began to rise across two cycles; from December 2008 and in June 2016, 7.5 years later, combined capital city home values are now 54.9 percent higher.
The first chart highlights the increases in home values over the past 7.5 years.  What is immediately noticeable is that the increases have been all about Sydney (87.9 percent) and Melbourne (71.8 percent).  In fact, most other capital cities have recorded growth which is around or below the rate of inflation.
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<h3>Total change in capital city dwelling values December 2008 to June 2016</h3>
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<img src="/images/2016/07/19/2016-07-15--image1.jpg" alt="">
From December 2008, combined capital city home values increased until October 2010, rising by 21.8 percent. 
Official interest rates were first increased coming out of the financial crisis in October 2009, rising by 175 basis points to November 2010.  The boost to the First Home Buyers Grant was partially removed in September 2009 and completely removed after December 31 2010.  These combined factors saw the rate of value growth slow, followed by a decline in dwelling values. 
The second chart highlights that from December 2008 to October 2010 dwelling values rose in all cities with Sydney, Melbourne and Darwin the standouts.  Despite very low interest rates, Brisbane, Adelaide, Perth and Hobart recorded little value growth over this period.
<h3>Total change in capital city dwelling values December 2008 to October 2010</h3>
<a href="/images/2016/07/19/2016-07-15--image2.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/19/2016-07-15--image2.jpg" alt="">
Between October 2010 and May 2012 as stimulus was removed from the housing market, combined capital city home values fell by -7.4 percent.  Darwin, Melbourne and Brisbane recorded the largest falls over the period.  Looking back at this period it is clear that low interest rates and first home buyer incentives stimulated the market and, as they were removed, demand was shown to be fragile. 
In October 2010, official interest rates were recorded at 4.75 percent and by May 2012 they had fallen by 100 basis points to 3.75 percent.
<h3>Total change in capital city dwelling values October 2010  to May 2012</h3>
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<img src="/images/2016/07/19/2016-07-15--image3.jpg" alt="">
From May 2012 to June 2016, combined capital city home values have increased by 37.3 percent while official interest rates fell by 200 basis points to 1.75 percent.  Although home values have increased over the period, Sydney and Melbourne have recorded a substantially higher rate of value growth than all other capital cities. 
<h3>Total change in capital city dwelling values May 2012 to June 2016</h3>
<a href="/images/2016/07/19/2016-07-15--image4.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/07/19/2016-07-15--image4.jpg" alt="">
The data indicates that since the financial crisis the capital city housing market could be described as being extremely interest rate sensitive.  Digging deeper into the data shows that in reality it is only Sydney and Melbourne that have really responded to the stimulus of low interest rates.  The relative strength of the Sydney and Melbourne economies and the much greater employment growth has clearly assisted drive housing values higher in these cities.
Until the economic performance improves outside of Sydney and Melbourne it seems unlikely that sustainable growth will return in these areas despite the extremely low interest rates which are set to potentially move even lower over the coming months.  For Sydney and Melbourne although affordability is increasingly becoming stretched home owners have experienced a substantial increase in equity. 
With historically weak rental markets and record low yields it will be interesting to see if investors and upgraders in the two largest capital cities continue to show a thirst for housing in these cities given the growth phase has now been running for more than four years.
Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
 
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ckusher-ujnxiKuFQs

Home value growth remains all about Sydney and Melbourne: Cameron Kusher

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The fall in prices in Australia's housing market continued to impact yields too, with Sydney overtaking Melbourne for the lowest yield profile across the capital city unit markets, according to the CoreLogic RP Data November Home Value Index. 
The 1.5% decline in capital city dwelling prices in November, coupled with a 0.% rise in weekly rents, has overall improved the average gross yield over the month. This follows a trend towards lower rental yields which started in May 2013.
Gross yields remain close to record lows for houses in Melbourne at an average of 3%, while Sydney recorded an average gross rental yield of 4.1% for apartments.
Yields have shown a consistent downwards trend towards lower returns for new investors.
The average gross rental yield for capital city houses was down to a record low of 3.4% in October, while for a capital city unit it was 4.3%for the same month. 
 
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Housing market conditions for Sydney and Melbourne started slowing earlier in the year and the trend continued throughout November, said CoreLogic RP Data head of research Tim Lawless. While Melbourne saw the sharpest drop, Sydney values were down 1.4 per cent. Hobart dwelling values dropped by 2.4 per cent, Darwin values were down 1.3 percent and they moved 0.5 percent lower in Canberra.
Overall, the combined capitals housing index has seen dwelling values drop by 1.5 percent over November, taking the rolling quarterly rate of change to -0.5 per cent
Values rose in the remaining three capital cities, with Adelaide showing the highest month-on-month growth rate (0.7 per cent), followed by Brisbane (0.6 per cent) and Perth (0.3 per cent).
“The latest results are now placing downwards pressure on the annual change in dwelling values. The annual rate of growth across the combined capitals index peaked at 11.5 per cent back in April 2014, and has since reduced to 8.7 per cent,” Lawless said.
Sydney maintained the highest annual growth rate at 12.8 per cent, which is down from a peak rate of annual growth of 18.4 per cent in July earlier this year, while Melbourne’s annual growth rate has reduced from a recent peak of 14.2 per cent to 11.8 per cent over the 12 months ending November this year.
The only capital cities where values have declined over the past year are Darwin (-4.2 per cent) and Perth (-4.1 per cent), where weaker economic conditions and a slowdown in population growth contributed to an early peak in housing market conditions in December last year.
The equivalent peak in the cycle for Darwin was May 2014. Since that time, Perth values are down a cumulative 5.9 per cent and Darwin values have fallen by a larger 6.8 per cent.
“The fact that mortgage rates have risen independently of the cash rate has, in all likelihood, become a contributor to the slowdown in housing market conditions, as well as tighter lending practices evidenced by a recent reduction in lender risk appetite for investment loans and high loan to valuation ratio mortgages," Lawless said.
"Tighter mortgage servicing criteria across the board and affordability constraints in the Sydney and Melbourne markets are also having an impact on market demand.” 
As a consequence of the tighter lending environment for investors, as well as gross rental yields being at near record lows, participation in the housing market from investors has reduced from 54.1 per cent of all new mortgages in May 2015 to 45.4 per cent at the end of September, which is the lowest level since July 2013.
Data released by APRA at the end of last month showed the pace of investment related housing credit growth fell below the APRA 10 per cent speed limit for the first time since September last year, with the monthly change in investment credit growth the lowest since October 2011.
According to November’s results, the slowdown comes after auction clearance rates have moderated back to the low 60 per cent range since the last week of October, whilst average selling time and vendor discounting rates also continue to rise from their record lows.
“Slower housing market conditions will likely be a topic of conversation when the Reserve Bank board meets today to deliberate on the cash rate setting. A less buoyant housing market is likely to provide the Reserve Bank with a greater degree of flexibility in adjusting interest rates without as much risk of overstimulating the housing market,” Lawless said.
“While the Reserve Bank is likely to welcome a slowdown in the rate of home value appreciation, the overriding objective would be to avoid a significant downturn in the housing market, which would act as a weight on economic growth and potentially impact financial system stability.”
“With the housing market moving through the peak of the cycle at a time when there is a large number of new dwellings commencing construction, there is likely to be a heightened level of settlement risk for off the plan purchases.”
“Those purchasers who have recently purchased off-the-plan may face challenges at the time of settlement if the valuation of the property is lower than the contracted price, or if mortgage finance is less freely available, or on more expensive terms. This would imply that some buyers may have a higher loan to valuation ratio than anticipated, which could require additional funds to bring the LVR down to a level the lender is comfortable with.”
“As a result of slowing housing market conditions, an additional risk for policymakers is a where a large number of dwellings approved for construction are postponed or withdrawn as developers face fewer pre-sales or lose confidence in their ability to deliver a profitable project to market,” he said.
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j.ballantyne1990-6AQqhLzZaK

Sydney rental yields for units lowest among capitals: CoreLogic RP data

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Sydney's northern beaches suburb of Collaroy had the greatest increase in house rents across the year, up 31.6% according to CoreLogic RP Data's September Monthly Rental Report.
The report found over the year Sydney rents increased 1.9%, with Collaroy a median rental price now of $1,250. Rose Bay has a median rental price of $1,750 - a 25% year-on-year change.
 
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The median price for a home in <a href="/news">Collaroy is $1,800,000</a>, according to CoreLogic RP Data.
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mick.cee-iDmgDDAmu8

Sydney's Collaroy leads top five NSW suburbs for house rent increase: CoreLogic RP Data

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Gross rental yields for combined capital cities are at record low with September figures for houses at 3.4% and units at 4.3%, according to CoreLogic RP Data.
CoreLogic RP Data's September Rental Index Result noted last year combined capital city gross rental yields were 3.7% for houses and 4.5% for units and said rental returns may fall lower over the next few months.
"With capital growth anticipated to continue to outpace rental growth we expect that rental returns are likely to push even lower over the coming months," it said.
"From an investment perspective it means that capital growth is going to remain a much more important for a return from an investment property.
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"Rental yields are lowest for houses in Melbourne (2.9%) and highest in Darwin (5.4%). In fact, Melbourne, Sydney (3.1%) and Canberra (4.1%) house yields are now at a record low. Unit yields are lowest in Sydney and Melbourne at 4.1% and highest in Darwin at 5.8%. Sydney unit yields are currently at a record low."
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Gross rental yields for combined capital cities are at record low: CoreLogic RP Data

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The top three suburbs in Western Australia with the highest gross rental yields are Kambalda west with 10.2% followed by Nickol (9.67%) and Port Hedland at 9.51%.
According to CoreLogic RP Data the lowest gross rental yields are in Dalkeith (2.33%) followed by Cottesloe (2.52%) and Coolbinia (2.55%).
Highest
<table border="1">
<colgroup>
<col>
<col>
<col>
<col>
<col>
</colgroup>
<tbody>
<tr>
<td class="s0">Suburb</td>
<td class="s0">Postcode</td>
<td class="s0">Median Price ($'000)</td>
<td class="s0">Gross Rental Yield (%)</td>
<td class="s0">Weekly Median Advertised Rent</td>
</tr>
<tr>
<td class="s0">Kambalda west</td>
<td class="s1">6442</td>
<td class="s1">$133</td>
<td class="s1">10.2</td>
<td class="s1">$260</td>
</tr>
<tr>
<td class="s0">Nickol</td>
<td class="s1">6714</td>
<td class="s1">$430</td>
<td class="s1">9.67</td>
<td class="s1">$800</td>
</tr>
<tr>
<td class="s0">Port Hedland</td>
<td class="s1">6721</td>
<td class="s1">$875</td>
<td class="s1">9.51</td>
<td class="s1">$1,600</td>
</tr>
<tr>
<td class="s0">Pegs Creek</td>
<td class="s1">6714</td>
<td class="s1">$430</td>
<td class="s1">8.47</td>
<td class="s1">$700</td>
</tr>
<tr>
<td class="s0">Millars Well</td>
<td class="s1">6714</td>
<td class="s1">$405</td>
<td class="s1">8.35</td>
<td class="s1">$650</td>
</tr>
<tr>
<td class="s0">Kambalda East</td>
<td class="s1">6442</td>
<td class="s1">$125</td>
<td class="s1">8.32</td>
<td class="s1">$200</td>
</tr>
<tr>
<td class="s0">South Boulder</td>
<td class="s1">6432</td>
<td class="s1">$185</td>
<td class="s1">8.29</td>
<td class="s1">$295</td>
</tr>
<tr>
<td class="s0">Bulgarra</td>
<td class="s1">6714</td>
<td class="s1">$440</td>
<td class="s1">7.98</td>
<td class="s1">$675</td>
</tr>
<tr>
<td class="s0">Baynton</td>
<td class="s1">6714</td>
<td class="s1">$593</td>
<td class="s1">7.89</td>
<td class="s1">$900</td>
</tr>
<tr>
<td class="s0">Katanning</td>
<td class="s1">6317</td>
<td class="s1">$163</td>
<td class="s1">7.68</td>
<td class="s1">$240</td>
</tr>
<tr>
<td class="s0">Boddington</td>
<td class="s1">6390</td>
<td class="s1">$260</td>
<td class="s1">7.6</td>
<td class="s1">$380</td>
</tr>
<tr>
<td class="s0">Coolgardie</td>
<td class="s1">6429</td>
<td class="s1">$174</td>
<td class="s1">7.47</td>
<td class="s1">$250</td>
</tr>
</tbody>
</table>
Lowest
<table border="1">
<colgroup>
<col>
<col>
<col>
<col>
<col>
</colgroup>
<tbody>
<tr>
<td class="s0">Suburb</td>
<td class="s0">Postcode</td>
<td class="s0">Median Price ($'000)</td>
<td class="s0">Gross Rental Yield (%)</td>
<td class="s0">Weekly Median Advertised Rent</td>
</tr>
<tr>
<td class="s0">Dalkeith</td>
<td class="s1">6009</td>
<td class="s1">$2,450</td>
<td class="s1">2.33</td>
<td class="s1">$1,100</td>
</tr>
<tr>
<td class="s0">Cottesloe</td>
<td class="s1">6011</td>
<td class="s1">$1,850</td>
<td class="s1">2.52</td>
<td class="s1">$895</td>
</tr>
<tr>
<td class="s0">Coolbinia</td>
<td class="s1">6050</td>
<td class="s1">$1,080</td>
<td class="s1">2.55</td>
<td class="s1">$530</td>
</tr>
<tr>
<td class="s0">Menora</td>
<td class="s1">6050</td>
<td class="s1">$1,240</td>
<td class="s1">2.58</td>
<td class="s1">$615</td>
</tr>
<tr>
<td class="s0">Middleton Beach</td>
<td class="s1">6330</td>
<td class="s1">$663</td>
<td class="s1">2.59</td>
<td class="s1">$330</td>
</tr>
<tr>
<td class="s0">Nedlands</td>
<td class="s1">6009</td>
<td class="s1">$1,575</td>
<td class="s1">2.64</td>
<td class="s1">$800</td>
</tr>
<tr>
<td class="s0">Swanbourne</td>
<td class="s1">6010</td>
<td class="s1">$1,519</td>
<td class="s1">2.65</td>
<td class="s1">$775</td>
</tr>
<tr>
<td class="s0">Floreat</td>
<td class="s1">6014</td>
<td class="s1">$1,350</td>
<td class="s1">2.7</td>
<td class="s1">$700</td>
</tr>
<tr>
<td class="s0">South Perth</td>
<td class="s1">6151</td>
<td class="s1">$1,150</td>
<td class="s1">2.71</td>
<td class="s1">$600</td>
</tr>
<tr>
<td class="s0">Rossmoyne</td>
<td class="s1">6148</td>
<td class="s1">$1,100</td>
<td class="s1">2.79</td>
<td class="s1">$590</td>
</tr>
<tr>
<td class="s0">Peppermint Grove</td>
<td class="s1">6011</td>
<td class="s1">$3,700</td>
<td class="s1">2.81</td>
<td class="s1">$2,000</td>
</tr>
<tr>
<td class="s0">Applecross</td>
<td class="s1">6153</td>
<td class="s1">$1,408</td>
<td class="s1">2.87</td>
<td class="s1">$778</td>
</tr>
</tbody>
</table>
 
 
 
 
 
 
 
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