<p><a href="https://www.apartments.com.au/developments/subiaco-wa-6008">Subiaco</a>’s Hay Street corridor serves as a key link between Perth’s CBD and the western suburbs, offering seamless access to city amenities while retaining the intimacy of a residential precinct.&nbsp;</p>

<p>At the junction with <a href="https://www.apartments.com.au/new-apartments/olive-st-263-hay-street-subiaco-wa-6008">Olive St</a>, this connectivity is reinforced by Subiaco Station and high-frequency bus routes, making commuting and weekend outings effortless.</p>

<p>Here, <a href="https://www.apartments.com.au/developers/devwest">Devwest</a>’s new apartment development Olive St is entering its final phase of construction, offering a rare opportunity to secure a home in one of Perth’s most complete lifestyle suburbs.</p>

<p>[smartcode_project:default project_id=106968 project_image_fid=3036]</p>

<p>Positioned in a leafy and character-filled pocket on the less-developed eastern side of Subiaco, Olive St stands out as one of the few apartment developments in this part of the suburb. Its quieter residential setting balances the density west of Rokeby Road, while the corner location on Hay Street places residents within walking distance of local favourites such as Found. Subiaco, Lums Wine Bar, and Hangout on Hay. Together with the celebrated Rokeby Road retail strip, these venues give residents an immediate connection to the cafés, restaurants, and bars that define the Subiaco lifestyle.</p>

<p>Cultural destinations including the Subiaco Arts Centre, Regal Theatre, and Subiaco Library reinforce the area’s reputation as a hub for entertainment and the arts.&nbsp;For outdoor recreation, residents have easy access to the manicured grounds of Market Square and Bob Hawke Oval, while Kings Park and Lake Monger Reserve offer expansive green space just beyond the suburb’s edges.</p>

<p>[smartcode_project:default project_id=106968 project_image_fid=3031]</p>

<p>A diverse educational landscape underpins the suburb’s long-standing appeal for families and professionals, with institutions such as Subiaco Primary School, Perth Modern School, and Bob Hawke College located nearby. Health services including St John of God Subiaco Hospital further support everyday convenience and peace of mind.</p>

<p>With construction nearing completion this September, Olive St will soon deliver 71 new residences to Subiaco. One bedroom apartments are fully sold, with only a limited selection of two and three bedroom residences remaining, priced from $877,000.</p>

<p>Buyers who secure an apartment before the construction period ends may still be eligible for the WA Stamp Duty Concession, offering savings of up to $50,000.</p>

<p>[smartcode_project_cta:default project_id=106968]</p>


Joel Robinson

Devwest’s Olive St connects residents to Subiaco’s best amenities

<p><span><span><span><span><span><span>After several challenging years, Melbourne is once again a city on the rise. For the last three years, when anyone interstate asked about Melbourne’s off the plan apartment market, the answer was always difficult. The short version? Not great. The longer version only raised more questions than it answered.</span></span></span></span></span></span></p>

<p><span><span><span><span><span><span>The roots of the downturn can be traced back to the start of the pandemic. At the end of 2020, Melbourne was the second most expensive capital city in Australia, a position it had held for decades. But while COVID-19 triggered a property boom in nearly every other capital, Melbourne lagged behind. Many blame the local government's handling of lockdowns, which stalled any real market momentum.</span></span></span></span></span></span></p>

<p><span><span><span><span><span><span>Then came the Reserve Bank’s aggressive rate hikes, taking interest rates from historic lows to 10-year highs within just 18 months. Other cities powered through thanks to their resilience during the pandemic, but for Melbo​urne, it was another blow.</span></span></span></span></span></span></p>

<p><span><span><span><span><span><span>The third hit came in the form of increased land tax, including new flat-rate charges and additional levies. Holding property became less viable for investors, especially with higher mortgage repayments. Many sold off their assets, flooding the market with investor-grade stock and pushing prices even lower.</span></span></span></span></span></span></p>

<p><span><span><span><span><span><span>Melbo​urne needed a turning point. That came in early 2025, when the long-awaited RBA easing cycle finally began, later than many economists had predicted, but still significant.</span></span></span></span></span></span></p>

<p><span><span><span><span><span><span>Despite the downturn, Melbou​rne’s fundamentals remained strong. One of the key growth drivers is supply versus demand, and the balance has shifted dramatically. According to Charter Keck Cramer, only 4,800 apartments were completed in Melbo​urne last year—a 36% drop from 2023, and less than half the 10,000 completed in Sydney. Only 6,320 apartments are currently under construction, compared to 21,550 in Sydney.</span></span></span></span></span></span></p>

<p><span><span><span><span><span><span>At the same time, Melbo​urne is expected to be the fastest-growing capital city over the medium to long term, with forecasts of more than 100,000 people moving to the city annually until 2029. With supply far below demand, price growth becomes inevitable.</span></span></span></span></span></span></p>

<p><span><span><span><span><span><span>So why haven’t prices already surged?</span></span></span></span></span></span></p>

<p><span><span><span><span><span><span>It’s not just buyers who’ve been impacted, developers have, too. Build costs have risen sharply, with labour and materials up around 40%. Land prices have also increased, along with holding costs. Higher costs mean higher sale prices. Developers aren’t charities, they’re not going to take the risk and lose money.</span></span></span></span></span></span></p>

<p><span><span><span><span><span><span>This created a stalemate: buyers couldn't afford the new prices, and developers couldn’t lower them. But 2025 has brought renewed optimism. Property values are now climbing in both the unit and house markets. Clearance rates have lifted into the mid-60s to low-70s—up from the low-to-mid 50s just last year.</span></span></span></span></span></span></p>

<p><span><span><span><span><span><span>With falling interest rates, buyers can now borrow more, while developers are feeling more confident thanks to stronger sentiment and stabilising build costs—though prices are unlikely to drop.</span></span></span></span></span></span></p>

<p><span><span><span><span><span><span>The future remains uncertain, but there’s a lot to like about Melbo​urne’s current position. The market has clearly bottomed out. We’ll inevitably be proved right or wrong, however it feels like this is arguably the best opportunity to buy in Melbourne—a city with significant business, large infrastructure projects all over the city, and a nightlife culture unrivalled anywhere in Australia.</span></span></span></span></span></span></p>


Is Melbourne the city of opportunity in the property market?

<p>There’s a version of Brunswick you’ll recognise even if you’ve never set foot there. Trams rattling down Sy​dney Road. Musicians and art students on the corners. It’s shorthand for a certain kind of Melbourne - progressive, creative, a little bit chaotic.</p>

<p>But dig deeper and <a href="https://www.apartments.com.au/developments/brunswick-vic-3056">Brunswick</a> reveals more than the clichés. It’s a suburb where 19th-century terraces share blocks with carbon-neutral apartment buildings. Where Victorian shopfronts house Syrian bakeries, social enterprises, and high-end espresso machines. And where property values have steadily climbed, not because the suburb has tried to reinvent itself, but because it’s stayed interesting.</p>

<p>Just six kilometres north of the CBD and well-connected by tram, train and bike path, Brunswick is built on a simple truth: you can get almost anywhere from here. Three Upfield line stations, Jewell, Brunswick, and Anstey, provide frequent train services. The 19 tram runs straight into the city. Bike commuters use the Upfield shared path like a second arterial.</p>

<p>Add to that Syd​ney Road and Lygon Street cutting vertically through the suburb, both lined with shops, eateries, services and medium-density housing, and it’s easy to see why Brunswick consistently ranks high for walkability and public transport access.</p>

<p>Brunswick’s population has shifted significantly over the past few decades. Post-war European migrants, many of whom still call the suburb home, laid the foundations. Students and artists came later, drawn by low rents and open minds. More recently, the area has welcomed professionals, young families, and downshifters seeking an urban lifestyle that doesn’t feel corporate.</p>

<p>As Brunswick’s demographic has evolved, so too has its housing profile. Post-war brick homes, double-fronted Edwardians, and classic workers’ cottages still line many of the suburb’s quieter streets, but now they sit alongside architect-designed townhomes, low-rise apartment buildings, and adaptive reuse projects that reflect the suburb’s dual identity: heritage-conscious and future-facing.</p>

<p>For Michael McCormack, Founder and Managing Director of property developer <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a>, and a local Brunswick resident—this is what makes Brunswick special. “It’s a suburb ingrained in continual reinvention,” he says.</p>

<p>“Brunswick has always been shaped by migration,” McCormack explains. “Post-WWII, it was Greek and Italian. Then came Asian and Middle Eastern communities, and more recently African. Now, the most visible wave is internal, young, creative, working professionals moving in. It’s eclectic and layered, a real melting pot.”</p>

<p>This multicultural identity is most evident, he says, on Sydney Road, the longest shopping strip in the Southern Hemisphere.<br />
<br />
“Walk up and down and you’ll see it in the hospitality scene, Vietnamese, Ethiopian, Lebanese, overlaid with wine bars and coffee spots. There’s something for everyone.”</p>

<p>Milieu began developing in Brunswick in 2019. Such is the developer’s love for the suburb, and the strong response from the local market, they’ve just launched their sixth project in as many years.</p>

<p>[smartcode_project:default project_id=136434 project_image_fid=348840]</p>

<p>Designed by Jackson Clements Burrows Architects in collaboration with DesignOffice and OCULUS, Saxon Street by Milieu is shaped by its civic context and cultural surroundings. The nine-level building with 80 apartments will replace the former Brosnan Centre, next door to the iconic Brunswick Baths, in the heart of the growing Merri-bek Arts and Culture Precinct.</p>

<p>Just months after launching, over a quarter of the apartments have already sold. McCormack attributes this strong demand to Milieu’s reputation in the area. “Our brand presence is so strong that we don’t just get repeat buyers—we get people connected to those who already live in a Milieu home,” he says.</p>

<p>“We get mothers, cousins, siblings of previous buyers—people who’ve not only heard great things from someone close to them, but have physically been in one of our homes. That’s the closest thing to a true testament we have for delivering a quality product.”</p>

<p>[smartcode_project:default project_id=136434 project_image_fid=348841]</p>

<p>This deep respect for what makes Brunswick Brunswick also attracted developer Beulah, who recently made their debut in the area. Late last year, they launched Brunswick Established—a collection of 23 sustainable townhouses.</p>

<p>Beulah co-founder Adelene Teh says it wasn’t just the prime Hodgson Street site near Barkly Street that drew them in, but the opportunity to create a brand-new townhome community in one of Melbourne’s most established and character-rich suburbs.<br />
<br />
“Brunswick has long been a suburb with soul, layered with history, creativity, and a strong sense of community,” Teh says.</p>

<p>“We were inspired by Brunswick’s rich heritage, its walkable lifestyle, and its proximity to some of Melbourne’s most vibrant pockets - from its thriving food and arts scene to its cultural and community offerings. It’s ideal for people who value a connected, inner-urban lifestyle but also want the calm of a serene pocket just minutes from parks, public transport, and local amenities.”</p>

<p>More than anything, Teh says, they saw the potential to create something that truly responds to how people want to live, now and into the future, within a like-minded community that appreciates great architecture, heritage, wellness, and sustainability.</p>

<p>[smartcode_project:default project_id=136451 project_image_fid=333959]<br />
<br />
“Brunswick Established is a reflection of that thinking. It embraces adaptability, multigenerational living, and considered design. We’ve worked closely with consultants and experts to ensure what we’re building feels like a natural extension of the suburb’s existing fabric, something that respects the past, supports the present, and adds value for generations to come.”</p>

<p>Beulah has seen strong interest, with 70 per cent of the townhouses already sold. Several interstate buyers have also made purchases, a sign of Brunswick’s national footprint.</p>

<p>[smartcode_project:default project_id=136451 project_image_fid=270371]</p>

<p>One of the biggest indicators of demand in a suburb is when big money arrives. Mirvac recently sold an apartment at <a href="https://www.apartments.com.au/new-apartments/prince-parade-by-mirvac-brunswick-701-park-street-brunswick-vic-3056">Prince &amp; Parade</a>, the former Princes Park Motor Inn site on Park Street, for $4.55 million, setting a new suburb record. It eclipsed the previous benchmark, a restored five-bedroom Victorian mansion from the 1880s, which sold for $4.15 million in late 2024.</p>

<p>[smartcode_project:default project_id=4802 project_image_fid=3627]</p>

<p>Mirvac’s General Manager of Residential Development VIC, Elysa Anderson, said the record-breaking price reflects the work of the Mirvac Design team in collaboration with Bates Smart, particularly their floorplan configurations and finishes, as well as Mirvac’s national reputation for delivering high-quality residential communities.</p>

<p>[smartcode_project:default project_id=4802 project_image_fid=217137]</p>

<p>Prince &amp; Parade is Mirvac’s third collaboration with Bates Smart on a parkside Melbourne development, following The Melburnian on Queen Victoria Gardens and The Eastbourne on Fitzroy Gardens.</p>

<p>The all-electric project comprises 169 one- to four-bedroom apartments across two buildings, rising five levels on Park Street and up to nine levels on Brunswick Road.</p>


There's something about Brunswick

<p>&nbsp;</p>

<p>Design-driven developer <a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a> has completed its first project in Melbourne’s inner southeast, welcoming buyers to Plant Street by Milieu in Malvern.</p>

<p>The boutique development, a joint venture with partners&nbsp;Penfold&nbsp;&amp; MaxCap, comprises just 21 apartments just off Glenferrie and Malvern Roads.</p>

<p>The low-rise building has been designed by&nbsp;<a href="https://www.apartments.com.au/architects/ritz-ghougassian">RITZ&amp;GHOUGASSIAN</a>, distinguished by a robust, textured concrete façade, with horizontal planes designed to frame views of the neighbourhood and gardens by landscaper Acre.&nbsp;</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=139856 project_image_fid=278299]</p>

<p>The interiors have been curated by&nbsp;<a href="https://www.apartments.com.au/interior-designers/georgina-jeffries">Georgina Jeffries</a>, who has brought a&nbsp;refined and neutral material palette to the homes, complemented by generous ceiling heights and layouts that prioritise both functionality and comfort.&nbsp;</p>

<p>Acre’s landscaping introduces layered, seasonal plantings that soften the built form and extend greenery throughout the communal and private spaces.&nbsp;</p>

<p>&nbsp;</p>

<p>[smartcode_project:default project_id=139856 project_image_fid=1098]</p>

<p>Alongside its design focus, Plant Street incorporates contemporary amenities including number plate recognition for secure parking, EV charging facilities, and smart parcel lockers. Communal areas and resident-led gardening initiatives are intended to foster neighbour connections within the building.</p>

<p>The project marks Milieu’s expansion from its established base in Melbourne’s northern suburbs into Malvern, responding to continued demand for design-led, low-density apartment living in well-established neighbourhoods.&nbsp;</p>

<p>Located near Glenferrie Road and High Street Armadale, residents benefit from easy access to retail, dining, and transport, along with the green character of the area’s surrounding parks and gardens.</p>

<p>Jellis Craig Projects Director Stephen Bowtell is selling the remaining apartments.</p>

<p>[smartcode_project:default project_id=139856 project_image_fid=1113]</p>

<p><a href="https://www.apartments.com.au/buildings/plant-street-by-milieu-malvern-1-plant-street-malvern-vic-3144">Plant St by Milieu</a> is the developer's first completed project south of their usual patch in Melbourne's north.</p>

<p>They are currently developing <a href="https://www.urban.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick?source_news_article_id=62652&amp;ref=news_body_link">Elsternwick Gardens</a>, a new nature-focused neighbourhood in Elsternwick, and <a href="https://www.apartments.com.au/new-apartments/saxon-street-by-milieu-brunswick-31-saxon-street-brunswick-vic-3056">Saxon St by Milieu</a>, their sixth project in Brunswick.&nbsp;</p>

<p>[smartcode_project_cta:default project_id=139856]</p>


Urban Editorial

Milieu welcomes buyers to Plant Street in Malvern as construction completes

<p>Strategic government planning will be crucial in addressing the ongoing supply/demand imbalance in Brisbane’s residential market, as new supply continues to lag.</p>

<p>That’s one of the conclusions from a new CBRE market analysis, which highlights positive fundamentals but ongoing challenges for both the Brisbane and broader South East Queensland residential market.</p>

<p>[smartcode_project:default project_id=136432 project_image_fid=5479]</p>

<p>While 5,600 apartments and townhouses are projected to be completed in Brisbane this year – up from an average of 3,500 in the five years to 2024 – CBRE Research Director Craig Godber said this figure had been somewhat inflated by project delays, which had shifted some anticipated 2024 completions into 2025.</p>

<p>Godber noted that recent completion levels were also well below the peak period in 2016 and 2017 when annual additions averaged around 12,500 units and townhouses.</p>

<p>“Brisbane's residential market is experiencing unprecedented growth, with demand outstripping supply," Godber said.</p>

<p>"Strategic planning by the State Government is crucial in addressing this imbalance and ensuring sustainable development."</p>

<p>Godber noted that low supply levels had translated into an extended period of low vacancy rates, with Brisbane’s metropolitan vacancy being at or below 1.5% since early 2021 and hitting 0.9% as at March this year.</p>

<p>These tight market conditions are evident across all city precincts.</p>

<p>[smartcode_project:default project_id=149098 project_image_fid=330588]</p>

<p>Looking ahead, adjusted additions between 2025 and 2029 are forecast at 23,200 dwellings, or 4,600 per annum, with 60% of these expected to be concentrated in Brisbane’s inner city.</p>

<p>“Brisbane’s low vacancy rate highlights the urgent need for additional residential supply and the forecasted growth in dwelling completions is a positive step towards meeting this demand,” Godber said.</p>

<p>[smartcode_project:default project_id=7574 project_image_fid=3770]</p>

<p>CBRE Metropolitan Investments Director Will Carman said Brisbane’s population expansion and strong demand fundamentals were driving interest in city development sites, but he noted that developer attitudes were shifting.</p>

<p>“As construction pricing continues to climb, developers are becoming more discerning. The focus has shifted toward delivering high-quality, well-located residential communities that can withstand market pressures and meet long-term demand,” Carman said.</p>

<p>He also noted the issue of affordability, with Brisbane’s median house price having crossed the $1 million mark.</p>

<p>“This reflects not only the city’s strong fundamentals and sustained demand, but also the growing challenge of affordability - particularly for first-home buyers. This price growth underscores the importance of strategic planning and quality development to meet evolving market expectations,” Carman said.</p>


Developer focus shifts to high-quality, well-located residential communities that can withstand market pressures and meet long-term demand, new CBRE analysis shows

Challenges and opportunities in Brisbane’s residential market as supply lags

Resale Loss

<html><body>
<p>Houses that sold for less than their previous purchase price over the June 2019 quarter were typically held by the owner for 5.8 years, according to the latest data from CoreLogic's June quarter Pain &amp; Gain report.</p>
<p>The report found units sold at a loss over the quarter were typically held by their owners for 5.7 years. Conversely, houses sold for a profit had typically been held for 10.0 years and units 8.8 years.</p>
<p>Throughout the combined capital cities, loss-making resales of houses had typically been held for 4.6 years compared to 5.1 years for loss-making resales of units.</p>
<p>Those capital city houses resold for a profit had typically been held for 10.5 years compared to 9.1 years for units.</p>
<p><img src="https://www.urban.com.au/images/2019/10/29/Resales%20HOLD.JPG" alt=""></p>
<p>Houses sold at a loss in Sydney and Melbourne typically had a much shorter hold period than other capital cities. For units sold at a loss, only those in Hobart and Canberra had a median hold period of less than a decade.</p>
<p>In terms of profit-making resales, the median hold periods for houses were longer in Darwin than they were elsewhere and the shortest in Sydney.</p>
<p>For units, Perth and Darwin once again had much longer median hold periods than elsewhere with Sydney, Melbourne and Hobart having the shortest hold periods.</p>
<p>"The trend towards longer holding time in Perth and Darwin for profit–making resales reflects the ongoing weak housing market conditions of the past decade," the report said.</p>
<p>"In regional Australia, houses resold for a loss were typically held for 7.6 years compared to 9.3 years for those sold at a profit.</p>
<p>"For regional unit markets, the average hold period for resales at a loss (9.2 years) was actually longer than for those resold at a profit (7.5 years).</p>
<p>"For houses resold at a loss, the typical hold period was shortest in regional NSW and regional Victoria and longest in regional SA.</p>
<p>"For loss-making unit resales hold periods were shortest in regional NSW and regional Victoria and longest in regional WA.</p>
<p>"For houses reselling at a profit, typical hold periods were much greater than elsewhere in regional areas of SA and Queensland.</p>
<p>"For units selling at a profit, hold periods were longest in regional SA and regional WA."</p>
</body></html>

j.ballantyne1990-6AQqhLzZaK

Homes resold at a loss were held 5.75 years on average: CoreLogic Pain & Gain Report

<html><body>
<p>Big names, big losses. Imagine taking a $500,000 hit on your house resale.</p>
<p>That's the largest loss yet taken by Sydney sellers in the property market downturn now taking hold.</p>
<p>The $500,000 price woes are shared equally on a sale at Warrawee and Castle Cove.</p>
<p>Jerry Ren, the now bankrupt former oil and gas entrepreneur Jerry Ren took a $500,000 loss when <a href="https://chiltonrealestate.com.au/m290/27-29-chilton-parade-warrawee" target="_blank">Bremon, the Warrawee trophy home</a> (top) sold recently for $11 million. The vast home, once dubbed the Chilton Hilton, had been bought by Ren, described as the Northern Territory's first billionaire, for $11.5 million eight years ago.</p>
<p class="first-para">It was the Waitan Restaurant, Haymarket restauranteur Kai Meng who took a $500,000 loss on his Castle Cove home resale, selling off-market for $5.5 million (below).</p>
<p class="first-para"><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/2018/11/12/neerim1.jpg" alt=""></p>
<p class="first-para">The property had cost $6,006,666 in 2011. Ofcourse after other costs including $360,000 stamp duty on purchase and around $115,000 on estate agent commissions the total loss would have neared $1 million.</p>
<p class="first-para">The grand six-bedroom residence, built in the late 1990s, is set on 2500 square metres of Neerim Road waterfront reserve. The Waitan Group’s windup has seen debts owed to the Australian Tax Office.</p>
<p class="first-para">The property pain is emerging amid vendors across Sydney, although CoreLogic stress it is hitting the top end the most.</p>
<p class="first-para">Values are down<span> 8.6 percent amid <span>the top percent of the market compared to a 4.6 percent drop amid the cheapest quartile.</span></span></p>
<p class="first-para"><span><span>The top nine known losses have seen prices fall by between 8.3 percent and 0.5 percent.</span></span></p>
<p class="first-para"><span><span>But lesser losses are emerging among the suburbs. Cricketer Nathan Lyon recently stumbled with a $15,000 Vaucluse apartment price drop. </span></span></p>
<p class="first-para">Around 3 percent of Sydney house sales have been at a loss, in the last quarter survey by CoreLogic, and 3.5 percent of apartments.</p>
<p class="first-para">CoreLogic first calculated Sydney prices were falling in September last year, with actual losses quickly following.</p>
<p class="first-para">The downturn followed a five year period when prices peaked with some 78 percent growth.</p>
<p>In Sydney the declines over the past year has seen median home prices fall by around $70,000.</p>
<p>In percentage terms, the 7.4 percent annual dwelling decline in Sydney was the largest since February 1990.</p>
<p class="x_xmsonormal"><span>"Sellers who are motivated and willing to meet the market essentially reset price points, so even if you’re a little stubborn as a seller and want to hold onto your price, unfortunately you are now at the mercy of others who are dropping prices to meet buyer demand," inner west agent Matt Hayson said.</span></p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"The market has certainly slipped faster than most forecast," agent Matt Hayson said, noting the recent 7.4 percent Sydney price decline data.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"It hasn’t been just the speed of the decline but also how far it has moved too.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"I think a few articles suggested we are back to 2016 prices but I’d suggest it’s 2015 prices already and continuing to drop," he said.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"Auctions are largely not working. </p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"I’m seeing more and more auction delays given the incredibly tough restrictions on pretty safe bet home loan applicants.</p>
<p class="m_9220578303431124550gmail-x_xmsonormal">"If you place your property on the market, you’d want to prepare yourself mentally for a roller coaster and in most cases very weak feedback with the likelihood of one or maybe two buyers willing to make an offer."</p>
<p>Matt Hayson said homeowners who were selling recently purchased properties were in a vastly different position from those selling homes owned for decades.</p>
<p>“And for people who don’t own a home, it is a good chance to get into the market.” </p>
<div>The pricey Palm Beach saw its second resale at a loss last month.</div>
<div> </div>
<div>Christian Ainsworth, of the aristocrat pokie machine family, took a <a href="https://www.realestate.com.au/sold/property-house-nsw-palm+beach-129620950" target="_blank">$400,000 loss on his Palm Beach retreat</a> (below).</div>
<div> </div>
<div><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/2018/11/12/ocean.jpg" alt=""></div>
<div> </div>
<div>He paid $3,425,000 for the four bedroom dress circle Ocean Road property in 2013 and sold for $3,025,000 through BresicWhitney agent Adrian Oddi.</div>
<div> </div>
<div>"The vendor <span><span>was very happy with the price achieved and the timeframe," Oddi said. </span></span>
<p>“Remember 50 percent of Sydney properties have no buyers. The other 50 percent might have one buyer. That’s the reality,” Oddi said.</p>
</div>
<div>Indeed Ainsworth had been conditioned to expect an even bigger loss having a $2.9 million price guide for the 1960s home.</div>
<div> </div>
<div>There was a $2.5 million sale recently of a hillside Palm Beach weekender that previously sold at $2.55 million in 2005.</div>
<div> </div>
<div>There had been a foreboding big loss at neighbouring Whale Beach late last year when the retiring Dow Chemicals chief Andrew Liveris sold his ’70s-style beach house for $3.33 million to his neighbour.</div>
<div> </div>
<div>The home, neglected by its absentee owner, had cost $3.675 million in pre-GFC 2006, highlighting how the luxury second home market was hot hard and long after the global financial crisis. Liveris took a $345,000 loss on the 1,110 sqm Whale Beach Road property which slopes down to the ocean.</div>
<div>
<div> </div>
<div>Boom time off the plan exuberance has emerged as a weak spot for prices.</div>
<div> </div>
<div>Last month the online publisher Jackie Maxted lost $200,000 in the resale of a penthouse in the warehouse conversion of the iconic Griffiths Tea building in Surry Hills.</div>
</div>
<div class="in-content-ad">
<div> </div>
<div>Maxted, who founded the Beauty Heaven website, paid $4 million off the plan in 2015 for New York-style Federation warehouse apartment. She rquietly sold the two level, three bedroom penthouse for $3.8 million.</div>
</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">The Block judge Neale Whitaker lost $170,000 on his stylish Alexandria apartment when selling for $1,535,000 earlier this year. He bought on completion in the SJB Architects &amp; Interiors designed Birmingham Street block for $1,705,000 in 2016.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">"Disappointed of course but market forces and market forces," Neale tweeted after its unsuccessful auction.</div>
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<div>  </div>
</div>
<div class="in-content-ad">Flipping is now a tricky tactic in property. The art collector John Scheaffer took a direct $100,000 loss on Bonnignton, the Tudor, English-style manor in Bellevue Hill that he bought for $20.5 million in February.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">After a quick makeover, where he <span>removed old carpet, restored timber floors and replaced electric switchboards and lighting during his very brief ownership.</span> Schaeffer could only secure $20.4 million at its recent auction.</div>
<div class="in-content-ad">
<p>Charles Tarbey, chairman of Century 21 Australasia noted people taking losses in the current property market might be forced sellers, or parties looking to downsize or upsize.</p>
<p>"Taking a loss may not be a huge concern for some so long as they are buying in a market that has also experienced comparative declines in property prices.</p>
<p>"However, many markets are still experiencing property price growth so these groups should be conscious of that and look to do their research," Tarbey stressed.</p>
<div>
<div>
<p class="first-para">Jade Guven, the wife of the property developer Savas Guven, sold her Bayview abode for a $450,000 loss.</p>
<p class="first-para">Having paid $3.7 million, the luxury four bedroom home sold seven months later for $3.25 million.</p>
At Clovelly fitness entrepreneur Jacinta McDonell, who co-founded Anytime Fitness in Australia, sold her <a href="https://www.realestate.com.au/sold/property-house-nsw-clovelly-129021086" target="_blank">Clovelly project for a $350,000 loss</a> last month (below).</div>
<div> </div>
<div><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/2018/11/12/seaview-clov.jpg" alt=""></div>
<div> </div>
<div class="in-content-ad">She didn't get round to developing the duplex-style Federation that was made up of two two bedroom apartments. She just sold for $3.12 million, having paid $3.47 million last November.<a href="https://www.realestate.com.au/sold/property-house-nsw-clovelly-129021086" target="_blank"></a>
</div>
</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">BresicWhitney director Shannan Whitney says the idea of ‘list it and they will come’ has evolved into a new dynamic.</div>
</div>
<div class="in-content-ad">
<div>
<p>“Pricing ethos has been mainly focused on finding a price in line with comparable sales. </p>
<p>"Now it’s about finding a price that ensured you will engage a reluctant buying market.”</p>
</div>
<div>Whitney recently advised clients "the current property climate is testing emotions all over Sydney."</div>
<div> </div>
<div>"At the heart of it, plenty of people have been, mostly unintentionally, set up for failure," he noted.</div>
</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">Hardly off a cliff, but Nathan Lyon had to revise his price hopes on his Vaucluse investment apartment.</div>
<div class="in-content-ad"> </div>
<div class="in-content-ad">
<div>Local agent Brad Pillinger sought more than $1.2 million initially, but the three bedroom apartment would later see it passed in on an $1.1 million vendor bid.</div>
<div> </div>
<div>Lyon ended up selling for $1,085,000, having paid $1.1 million in 2015.</div>
<div> </div>
<div>Even vacant land blocks are heading backwards.</div>
<div>
<p>A vacant block of land at Menai in the Sutherland Shire has sold for $955,000, going backwards on its sale last year.</p>
<p>The 818 sqm building block in Anderson Ridge, one of the Shire's new estates, fetched $980,000 in 2017.It took 111 days to sell, with the price revision to $1.02 million prompting a sale.</p>
<p>The block at 39 Anderson Place first sold for $640,000 in 2015 when bought from the developer.</p>
</div>
<div>
<p>Sydney's largest losses were in the 1990 recession when one Point Piper harbour front house fell from its record $11.5 million peak in 1987 back to $6.1 million and then $5.25 million over a five year period.</p>
<p>Terry Ryder at Hotspotting website says a<span>nyone who has owned for a few years will still be selling for a decent profit in Sydney.</span></p>
<p><span>"<span>The only people taking losses in Sydney should be people who bought recently and, for whatever reason, need to sell in a hurry," Ryder advised.</span></span></p>
<p>This article was first published in the Saturday Daily Telegraph. </p>
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jchancellor-FAypfDUnLy

Orderly downturn sees $500,000 losses taken at Sydney top end residential

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<p><span>Over the 12 months to June 2017, 3,861 dwellings were sold after having been held for less than a year nationally with a further 16,749 resold after being owned for between one and two years, according to CoreLogic.</span></p>
<p><span>These figures represented 1.3% and 5.7% of all resold property sales over the year. </span></p>
<p><span>Flipping remains a small proportion of the overall housing market however, flips between one and two years have been trending higher over recent times. </span></p>
<p><span>In its heyday in the early 2000s, 4.4% of all properties were flipped in less than 12 months and 16% were flipped between 12 and 24 months from previous purchase. </span></p>
<p><span>What is surprising is that the introduction of the capital gains tax discount for investors that held properties for more than 12 months in 1999, made little difference to flipping behaviour.</span></p>
<p>Click here <a href="https://www.propertyobserver.com.au/images/2018/1/19/flipping-by-state.jpg" target="_blank">to enlarge.</a></p>
<p><span><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/2018/1/19/flipping-by-state.jpg" alt=""></span></p>
<p> </p>
<p><span>In fact, the incidence of flipping didn’t rise substantially until the national housing market boomed between 2001 and 2004. </span></p>
<p><span>Focusing solely on those properties which are ipped, the data shows that most of these properties are selling for a gross profit. </span></p>
<p><span>Over the 12 months to June 2017, 10.9% of flips held for less than 12 months were at a loss and 10.1% of flips held for between 12 and 24 months resold for a loss. </span></p>
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<div class="column">
<p><span>Although the proportion of flips at a loss has declined from recent highs in 2009 and again in 2012, there has been a clear increase in loss-making flips recently. </span></p>
<p><span>The rising number of loss making flips highlights there is some financial risk in flipping, keeping in mind that the proportion of </span>loss making flips on a net basis is likely to be substantially higher once expenses are taken into account.</p>
<p><span>Across the major regions of the country, flipping was more prevalent in Sydney, Melbourne and Regional QLD.</span></p>
<p>Darwin was the weakest capital city for prices in 2017.</p>
<p>Its resale losses have also been a problem in recent years.</p>
<p>The propensity to flip in Sydney and Melbourne is likely due to the strong run-up in values over recent years whereas regional QLD is probably seeing greater propensity to flip as people struggle to meet mortgage repayments as unemployment has risen and dwelling values have fallen.</p>
<p><span>Vendors in Perth, Hobart, Darwin, regional QLD, regional SA, regional WA, regional TAS and regional NT were the most likely to ip their properties for a loss. </span></p>
<p><span>In most of these regions value growth has been sluggish for a number of years which makes flipping for a profit much more difficult. </span></p>
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Loss-making property flips on the rise, especially in Darwin: CoreLogic

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<p><span>Over the September 2015 quarter, 9.5 percent of Adelaide resales were at a gross loss, according to CoreLogic RP Data.</span></p>
<p><span>It was up from 9.4 percent at the end of the first quarter of 2015 and higher than the 9.1 percent over the same quarter last year. </span></p>
<p><span>Prospect recorded no loss-making resales over the quarter while Campbelltown (2.2 percent) and Unley (2.9 percent) recorded less than 3.0 percent of all resales at a loss. The highest proportions of loss-making resales over the quarter were recorded in Playford (24.7 percent) and Light and Walkerville (both 14.3 percent) council areas. </span></p>
<p><a href="/images/2016/01/29/Screen%20Shot%202016-01-29%20at%2011.34.27%20AM.png" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2016/01/29/Screen%20Shot%202016-01-29%20at%2011.34.27%20AM.png" alt=""></span></p>
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