Repeat buyers are one of the strongest measures of confidence in any apartment development.

At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.

Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.

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"I had some boxes I wanted to tick," he says.

Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.

“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.

He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.

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After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.

"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."

Today, Keith says the move has completely changed how he experiences Newcastle.

"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."

[smartcode_project:default project_id=135096 project_image_fid=356828]

Beyond the location, he says it's the sense of community that has surprised him most.

"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."

For Aimee and Lyle Goodman, the journey started almost by chance.

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The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.

"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."

As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.

"We actually catch up more as a family now," Aimee says.

"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."

[smartcode_project:default project_id=135096 project_image_fid=356829]

Lyle says their confidence came from GWH's reputation within Newcastle's building industry.

"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."

That confidence only grew throughout the buying process.

"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."

[smartcode_project:default project_id=135096 project_image_fid=351104]

Aimee says one moment stood out.

"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."

The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.

Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.

[smartcode_project:default project_id=135096 project_image_fid=356822]

ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;

Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;

The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.

[smartcode_project:default project_id=135096 project_image_fid=356826]

For Keith, the appeal remains straightforward.

"You feel at home even before you've moved into your home."

For Aimee, the change is measured in time.

“I just felt like I had more time,” she says.

[smartcode_project:default project_id=135096 project_image_fid=351102]

Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.

ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.

[smartcode_project_cta:default project_id=135096]

Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.

Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.

"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.

"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."

[smartcode_project:default project_id=4661 project_image_fid=372549]

Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.

"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.

The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."

[smartcode_project:default project_id=4661 project_image_fid=314259]

Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.

According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.

Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.

[smartcode_project:default project_id=4661 project_image_fid=372550]

Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.

The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.

The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.

"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."

The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.

With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.

[smartcode_project_cta:default project_id=4661]

Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.

<a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.

The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.

Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.

Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.

[smartcode_project:default project_id=102717 project_image_fid=355297]

The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.

Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.

"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.

The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.

[smartcode_project:default project_id=102717 project_image_fid=355293]

The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.

According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.

The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;

Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;

[smartcode_project:default project_id=102717 project_image_fid=355303]

The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.

"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.

"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."

[smartcode_project:default project_id=102717 project_image_fid=355304]

Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.

Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.

[smartcode_project_cta:default project_id=102717]

Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.

It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.

With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.

The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.

Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.

[smartcode_project:default project_id=5743 project_image_fid=372394]

Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.

"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.

"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."

[smartcode_project:default project_id=5743 project_image_fid=953]

Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.

Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.

That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.

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Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.

Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.

"The Lennox is where aspirational living becomes attainable," Hamblett said.

"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."

Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.

"At The Lennox, lifestyle is not an afterthought, it is the foundation."

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The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.

Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.

That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.

"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."

[smartcode_project_cta:default project_id=5743]

The apartment price gap drawing Sydney buyers west

A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.

The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.

The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.

The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.

Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.

"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.

"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."

<img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" />

Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.

Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.

Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.

"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.

"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."

Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.

Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.

Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Residential Market

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Auctions in Sydney are expected to cool this weekend along with Melbourne, however Melbourne's listings could still make for one of the biggest state auction weekends so far this year.
Listings slated to go under the hammer in Sydney are around 600, down from last week's 673 with the inner west the busiest region with 95 auctions. Some 796 auctions were held over the same weekend last year.
In Melbourne, the super Saturday weekend before Derby Day, hosts some 1190 auctions this Saturday but that figure is 20 percent down on the same weekend last year. This year is the smallest for a super Saturday since 2012, according to Domain Group.
In Sydney, homebuyers in continue to be constrained for choice compared with the record offerings auctioned over spring last year according to Andrew Wilson from the Domain Group.
"The inner west continues its reign as Sydney’s most popular region for Saturday auctions this weekend with 95 listings. Next highest is the upper north shore with 84, followed by the city and east 77, the south 74, the lower north 59, the south-west, west and north-west each with 42, the northern beaches 41, Canterbury Bankstown 37, the central coast 18 and the Blue Mountains with just one auction scheduled this weekend," he said.
"Randwick, Lane Cove North, Epping and Carlingford lead the pack as the most popular auction suburbs in Sydney this weekend. Next highest is Drummoyne with nine, followed by Baulkham Hills eight and a number of suburbs with seven auctions scheduled, including Lane Cove, Maroubra, Killara, Wahroonga, Strathfield, Stanmore and Marrickville.
"The Sydney weekend auction market recaptured its boom-time vibe last weekend with the clearance rate moving back into the 80s in a spring market that continues to blossom."
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jonathanchancellor-7SQnKwU6yx

Sydney's auction cooling, Melbourne's super Saturday listings smallest since 2012

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Economist Stephen Walters forecasts apartment prices are likely to fall 10 percent to 15 percent over the next one to two years.
"I think it's going to get ugly, particularly in some parts of the market and for some lower-income cohorts who have borrowed," Walters told the Australian Financial Review. 
He also thinks the contagion could spread to the major property market
The comments comes amid concerns expressed by the RBA recently, as latest as Tuesday, that a "considerable supply" of units would arrive over the next few years, adding to the need to closely watch the property market. 
Property Observer earlier reported about the central bank’s estimate that 16,000 new apartments in Melbourne over the next two years would add around 18 per cent to the city’s stock of inner-city housing, while an additional 12,000 in Brisbane would add 15 per cent to existing stock levels.
The RBA noted apartment ­prices and rents were weaker in Melbourne and Brisbane, while vacancies were higher.
Falling rents are a “strong signal” of downward pressure on the market, said Walters,  who is chief economist ‎at the Australian Institute of Company Directors.
"Rents are already off and given that a large part of the market is investor focused, that's got to affect your price expectations and purchasing prices," he said.
The AFR article said that the RBA sparked the apartment construction boom through interest-rate easing to stimulate growth to counter the end of the resources boom.
Walters said while he supports the rate cuts to date, this year's two reductions have added fire to an already hot market.
"They knew this would happen. They engineered this part of the boom. When interest rates go down, housing will pop.
"And they've had to keep cutting through gritted teeth because they're making the adjustment and shakeout in housing and balance sheets that much worse."
The RBA said in its Financial Stability Review that any collapse in the apartment market would almost certainly flow to the broader market.
“If apartment markets were to turn down and settlement difficulties become more widespread, banks would be more likely to incur some loan losses,” the ­bank said.
"If you get a real shakeout in inner Brisbane and Melbourne, where rents are already falling, eventually that will have to be reflected in not just the apartment market but in the broader market,” said Walters.
Even though the RBA doesn't regard a potential collapse in apartment prices as "systemic risk" to the financial system, banks will be impacted as they have let to both buyers and developers.
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prateek24-ezbwHMbNAk

Apartment prices could slide 10-15 percent: economist Stephen Walters

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One of Melbourne's most prolific private developers, Eddie Kutner's Central Equity, has recorded a record $131 million profit for the 2016 year.
Central Equity's 2015 profit was $10 million. In 2014 the profit was $76 million.
Kutner and his partners John Bourke and Dennis Wilson are considering a potential sell-down or outright sale of the business they founded in the 1980s.
"Central Equity is a highly profitable and sustainable business that has been developed over more than three decades to become a 'second generation' enterprise," a spokesman said on Monday. 
The 2016 profit was achieved on $586 million in sales revenue, compared to $120 million in the previous year.
Central Equity also develops residential land lots and has a project in Queensland.
In the directors' report for its 2016 financial results, obtained by The Australian Financial Review, the company outlines the prospect of strong revenues ahead, with more than $1 billion in sales contracts in hand.
Its Southbank Place in Kavanagh Street, which was released earlier this year, is expected to generate more than $400 million in sales.
Central Equity also noted it had acquired a major site on Lonsdale Street.
Central Equity's annual report addresses concerns about Melbourne's over-supply potential.
"Large-scale projects can take five-10 years to complete and over these timeframes many projects are either delayed or abandoned," it said.
"Accordingly, long timeframes, delay or abandonment and the dynamics of off-the-plan sales and bank requirements, have a 'self-regulating" effect on the physical supply of completed apartments to the market."
Central Equity also noted it is boosting the proportion of "family-sized apartments" in its projects, including larger two-bedroom units and more three-bedroom apartments.
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jchancellor-FAypfDUnLy

Family-sized apartment strategy outlined by the highly profitable Central Equity

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The decline - and apparent shortage - of property listings is the biggest talking point of the 2016 spring selling season.
Last Saturday's 640 Sydney auction tally was 35 percent lower than the same weekend in October last year.
The 20,000 total Sydney private treaty listings are down six percent with the 7,500 new listing component some 17 percent less than last October.
Home owners aren't wanting to sell while there is little on the market to buy.
Despite home values rising, transaction volumes languish well below their previous highs right across the country, CoreLogic research recently noted.
CoreLogic estimates 339,000 houses and 132,000 units sold in Australia over the year to April, including 208,000 houses and 96,000 units across the capitals.
The combined 471,000 annual property sales was down almost 26% from the 633,000 transactions over the 12 months to May 2002, the last sales volume peak year.
CoreLogic research head Tim Lawless foresees the consequences of property owners less willing to list properties for sale.
"The short supply of housing stock is likely causing some urgency amongst buyers which is contributing to the upwards pressure on dwelling values."
It is increasingly evident that stamp duty has become a major deterrent to doing anything among owners and investors who are all holding their properties for longer. 
The basic rate of NSW stamp duty has remained unadjusted for price bracket creep for the past three decades. It was in 1986 when the Unsworth Government budget raised the stamp duty to 4.5 per cent for sales above $300,000, and the rate for $1 million sales and above became 5.5 per cent.
Back then the median Sydney house price was not quite $100,000. It is now $890,000.
The Government estimated the new stamp duty rates in 1896 would add $30 million to revenue.
These days just the anticipated $100 million sale of John Symond’s Point Piper mansion, could recoup at least $6.94 million if the property is sold to an Australian or $10.94 million if sold to a foreign buyer.
NSW transfer duty revenue for 2015-16 was more than $1 billion over-budget at $8.887 billion. 
Stamp duty this financial year is tipped to raise $10.6 billion, making it the biggest tax levied by the state government, followed by payroll tax at $8.25 billion, land tax at $3.1 billion and vehicle taxes at $2.5 billion. 
Stamp duty overtook payroll tax as the State's largest source of tax revenue back in 1987.
Richardson &amp; Wrench Mosman agent Robert Simeon says stamp duty has become "a massive market hindrance.
"Home owners choose to renovate over gifting the state government ridiculous amounts of monies for nothing."
With fewer sales, but increased property prices, the government currently doesn't have too many concerns about its revenues. But year-on-year growth in transfer duty revenue has varied between negative 32 per cent and positive 39 per cent during the last decade. 
The last Budget's Intergenerational Report noted the state-wide economic cost for every million dollars of transfer duty revenue is estimated to be around $800,000.
The deepening paralysis is effecting the NSW economy - especially property related businesses. Estate agents and their agencies are facing an industry-wide shakeup. Ditto valuers, quantity surveyors, and mortgage brokers. Not just the white collar industries as say removalists will find fewer moving jobs in the current stayput environment. Even the village florist who pretty up the interiors at the open for inspections will find business shrinking. 
REINSW President John Cunningham said a review of the NSW tax system is necessary immediately, following stamp duty reforms in Western Australia and the Northern Territory. 
This article was first published in the Saturday Daily Telegraph.
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Spring welcomes lower listing volumes 

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Auctions in Melbourne are set to rise over 1000 for this weekend, the first time since May and Sydney auctions are expected be considerably below the 970 slated for this time last year, according to Domain Group’s chief economist Andrew Wilson.
He said Melbourne listings, although higher, will still be well down again on the 1232 homes that went under the hammer during the same weekend last year.
"Melbourne’s west is again the most popular region for auctions this weekend with 174, followed by the inner south with 132, the inner east 129, the inner city 127, the north-east 126, the outer east 119, the north 96 and the south-east with 51 auctions so far scheduled on Saturday with more expected to come," he said.
"Reservoir is yet again the most popular auction suburb in Melbourne this Saturday with 23, followed by Essendon and Glen Iris each with 15, Glen Waverley 14, Richmond 13 and St Albans, South Yarra and Craigieburn, which will each host 12 auctions on Saturday.
"Strong auction market activity is predictably translating to higher prices, which will be welcomed by Melbourne home owners. Potential first home buyers, however, will not welcome higher prices, which will act to offset the benefits of record-low interest rates and a highly competitive lending environment."
According to Dr Wilson, more than 660 homes will again go under the hammer in Sydney on Saturday, likely only marginally more than the 651 auctioned last weekend,  with auction numbers tracking about 30 percent lower than those recorded over spring last year.
"The inner west is again the most popular region in Sydney this weekend for auctions with 113 listed followed by the south 94, the upper north shore 83, the city and east 81, the lower north 59, the south west 58, Canterbury Bankstown 44, the west 42, the northern beaches 41, the north west 24, the central coast 18 and the Blue Mountains with three auctions so far scheduled on Saturday," he said.
"Earlwood is the most popular suburb in Sydney for auctions this weekend, with nine, followed by Randwick, Mosman, Rozelle, Bexley and Croydon Park each with eight, and several suburbs with seven auctions listed including Blacktown, Darlinghurst, Eastwood, Chatswood and Leichhardt.
"Strong auction market activity is predictably translating to higher prices, which will be welcomed by Sydney home owners.
"Potential first-home buyers, however, will not welcome higher prices that will act to offset the benefits of current record-low interest rate and a highly competitive lending environment."
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Sydney, Melbourne auctions numbers increasing: Andrew Wilson

How much you need to earn to buy a home across Australia

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Kudos to the NSW government by becoming the first elected government in NSW to achieve a cash positive financial position – quite amazing that never before has this been achieved.
The words ‘debt free’ don’t exactly go hand in hand with governments these days as we have become too accustomed to the monetary phrases of debt and deficits.
NSW Treasurer Gladys Berejiklian confirmed this week that NSW would post a $4.7 billion surplus in 2015/16 which just so happens to be $1.3 billion more than predicted in the June budget just four months ago. Still a massive turnaround from 30 June 2015 when net debt sat at $5.5 billion to a $57 million surplus as at 30 June 2016.
No doubt reassuring for the government who pledged a further $20 billion in infrastructure at the 2015 election, which includes a second harbour crossing. Now to a big property decision which is the elephant in the room in the form of stamp duty. Sydney’s new market which is the tens of thousands of new apartments under construction which have handsomely rewarded the government in the form of stamp duty. There would be significant question marks over foreign purchasers completing once these projects are finished.
It is worth noting that the treasurer is expecting stamp duty growth of 4.4 per cent per annum over the next four years whilst also predicting stamp duty revenue would hit $8.9 billion in 2016/17. As to that prediction I offer just two words – Good Luck! 
Investors would be no doubt observing the recent commentary by the Reserve Bank of Australia (RBA) who noted “growth in rents is the slowest for decades”. So one then can only presume that the bait rent projections provided to the tens of thousands of off – the – plan buyers have next to no chance of coming to fruition? Furthermore, these rental projections play an intricate role in determining the amount of borrowings leveraged against each investor property.
According to realestate.com.au figures numbers of Chinese buyers looking to buy in Sydney have fallen by 9 per cent over the past twelve months. Many (including myself) expect these numbers to keep falling as a direct result of the NSW government’s recently introduced Foreign Investor Surcharge.
NSW Treasurer Gladys Berejiklian has announced that the June 21 NSW Budget will include the introduction of foreign investor surcharges on stamp duty and land tax on residential real estate. The measures are expected to raise more than $1 billion over four years and will fund essential services across NSW. “These new measures will ensure NSW’s property market continues to be an attractive destination for international investors while making sure that we are able to fund vital services into the future,” Ms Berejiklian said.
This initiative has not gone down well with foreign investors. One only has to look at what happened to the foreign buyer tax in Vancouver which saw a very hot market transition almost immediately to a frozen market overnight once the 15 per cent tax was announced. For example, property prices collapsed 33 per cent in September from a year ago.
Now for some other very big questions that are being asked and answered within the real estate industry currently that do require special consideration.
When you look back at the history of real estate in Australia a distinct observation has been the popularity of real estate franchises. In 2016 we have seen the lowest volumes of stock levels ever seen before, for example this week in Mosman there are 32 houses for sale, in 2015 there were 49, in 2014 82 and in 2013 there were 119 houses on the market that week.
Now a franchise office that operates within the one allocated postcode simply can no longer survive on these reduced stock levels as salespeople will look for work with businesses that offer unlimited or much larger farming areas. There has also been heated discussions about franchise fees which are performance based much like income tax. The more you sell the larger the franchise fee – in 1994 we went over to a flat fee so many franchise offices are demanding that fee structure.
Somewhat ironic that stamp duty was a blessing in disguise for the NSW government’s finances yet it is the reason why fewer homes are now on the market as owners have opted to invest the amounts they would pay in stamp duty into renovations. This also means that the selling cycle changes will blow out significantly as home owners will stay much longer in the principal place of residence.
So from Christmas on you can expect many franchise offices to rebrand (and no I’m not talking about my office) simply because we are seeing fewer and fewer properties on the market. Change is inevitable although it takes a long, long time to see tax changes from elected governments. Ping: The Henry Tax Review and NSW stamp duty to name just two examples.
In the meantime, businesses will re-calibrate and make the economic decisions required to stay afloat and progress down that path of longevity. I predict major changes to the Australian real estate franchise landscape from 2017.
<h4>MOSMAN – 2088</h4>
Number of houses on the market this time last year – 49 Number of houses on the market last week – 32 Number of houses on the market this week – 34 Number of apartments on the market this time last year – 60 Number of apartments on the market last week – 32 Number of apartments on the market this week – 34
<h4>CREMORNE – 2090</h4>
Number of houses on the market this time last year – 13 Number of houses on the market last week – 15 Number of houses on the market this week – 13 Number of apartments on the market this time last year – 23 Number of apartments on the market last week – 15 Number of apartments on the market this week – 13
<h4>NEUTRAL BAY – 2089</h4>
Number of houses on the market this time last year – 9 Number of houses on the market last week – 5 Number of houses on the market this week – 7 Number of apartments on the market this time last year – 23 Number of apartments on the market last week – 22 Number of apartments on the market this week – 22
 
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985. 
He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000.
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It’s time for some very BIG property decisions: Robert Simeon

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Darwin’s satellite suburb of Palmerston is poised to attract a wave of investors, who might compete with first-home buyers, due to impressive yields.
A case in point is Palmerston suburb Zuccoli.
“It’s possible to buy some land and build a three-bedroom house for $450,000 in new Palmerston suburbs such as Zuccoli,” said Glenn Grantham, general manager, Raine &amp; Horne Darwin.
The real estate firm is selling land in the Zuccoli Aspire development on behalf of Costojic, a partnership between developer Costa Property and local firm Ostojic.
“If you are a first time buyer and have a $26,000 first homeowner’s grant to spend on a new property, then Zuccoli continues to look very attractive.”
Grantham said some properties in Zuccoli can earn rents of up to $600 a week, or a healthy gross yield of 6 percent.
“Moreover, some of the builders offering house and land packages in Zuccoli have completion valuations indicating their homes would sell in the market for $530,000.”
“We have just released another 200 blocks at Zuccoli Aspire, which are selling from $135,000, and we expect investors, especially those from Sydney and Melbourne, to jostle with first home buyers in the race to snap up these very affordable blocks,” said Grantham.
 <img src="/images/2016/10/06/Zuccoli.jpg" alt="">
The return of interstate investors to markets such as Palmerston is not unexpected, according to Grantham, as Darwin’s rental yields compare favourably with other capital cities.
“Our median prices are many hundreds of thousands of dollars cheaper than Sydney and the smart interstate money is recognising there is more to Darwin than mining and resources,” he said.
“Darwin has a diverse economy that has a good spread of government businesses, as well as robust defence and tourism industries. 
He cited that visitor nights – both domestic and international – rose by 24 percent in financial year 2015/16, illustrating Darwin’s growing tourist appeal. 
“Combine the city’s growing economic diversity with real estate affordability and strong yields, and Darwin real estate will be on the radar for investors again in 2017.”
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Darwin's Palmerston to attract investors due to strong yields: Raine & Horne  

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<div class="column">GUEST OBSERVER</div>
<div class="column"> </div>
<div class="column">The CoreLogic Home Value Index of capital city home prices rose by 1.0 per cent in September to stand 7.1 per cent higher over the year. Prices rose in all capital cities except Perth and Darwin. But regional prices were only up 1.4 per cent in the year to August (latest data).</div>
<div class="column"> </div>
<div class="column">Petrol: Today the national average wholesale (terminal gate) unleaded petrol price stands at 106.8 cents a litre, down 0.5 cents a litre over the week after falling by 0.9 cents in the previous week. Capital cities: MotorMouth records the following retail prices for capital cities today: Sydney 122.6c; Melbourne 125.7c; Brisbane 107.5c; Adelaide 116.1c; Perth 103.5c; Canberra 118.7c; Darwin 109.8c; Hobart 121.7
Manufacturing: The Performance of Manufacturing index rose by 2.9 points to 49.8 in September. A reading below 50.0 indicates that the sector is contracting. 
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<div class="section">
<div class="layoutArea">
<div class="column">It is clear that there is no single housing market. And for that matter, there is no single market for petrol. Housing prices are responding to the different population or demand influences as well as the different stages of the building cycle. Demand for homes in Sydney and Melbourne is supported by solid population growth while supply hasn’t caught up. Not yet, anyway – the process is underway. In contrast the increased supply of new homes in Perth is happening at a time of softening population growth. There have always been different cycles across the country and this time is no different.</div>
<div class="column"> </div>
<div class="column">Looking at the simple national dwelling price (capital cities and regions) on a three-month rolling average basis, home prices are up just 1 per cent over the past year. Looking over a 25-year period, annual price growth has averaged around 6 per cent. Over the last five years, annual growth was nearer to 3 percent.</div>
<div class="column"> </div>
<div class="column">The jury is still out on petrol prices. OPEC oil producers are seeking to limit production and support prices. But many doubt that the moves will be effective given significant global oil supplies and the lack of agreement to stem output outside of the OPEC grouping.</div>
<div class="column"> </div>
<div class="column">Manufacturers are being influenced by a range of positive and negative forces at present. The higher Aussie dollar isn’t helping producers but they are benefitting from the stronger demand now that Brexit and the election are out of the way.</div>
<div class="column"> </div>
<div class="column">What do the figures show?</div>
<div class="column"> </div>
<div class="column"><a href="/images/2016/10/04/Screen%20Shot%202016-10-04%20at%208.20.09%20AM.png" target="_blank">Click to enlarge</a></div>
<div class="column"><img src="/images/2016/10/04/Screen%20Shot%202016-10-04%20at%208.20.09%20AM.png" alt=""></div>
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<div class="column"> </div>
<div class="column">Home prices</div>
<div class="column"> </div>
<div class="column">The CoreLogic Home Value Index of capital city home prices rose by 1.0 per cent in September and was up 7.1 per cent over the year.
In regional Australia, house prices fell 0.1 per cent in August and were just 1.4 per cent higher than a year ago.  (regional prices cover just houses and data is up to the end of August).  
In capital cities, house prices rose by 1.0 per cent in September while apartment prices rose by 1.2 per cent. House prices were up 7.3 per cent on a year ago and apartments were up by 6.1 per cent.  
 The average Australian capital city house price (median price based on settled sales over quarter) was $600,000 and the average unit price was $510,000.
 Dwelling prices rose in six of the eight capital cities in September: Canberra (up 2.4 per cent); Melbourne (up 2.3 per cent); Adelaide (up 2.1 per cent), Sydney (up 0.8 per cent); Brisbane and Hobart (both up 0.1 per cent). Prices fell most in Perth (down 2.5 per cent) followed by Darwin (down 2.2 per cent).  
 Home prices were higher than a year ago in six of the eight capital cities. Prices rose most in Sydney (up 10.2 per cent); followed by Melbourne and Canberra (both up 9.0 per cent); Hobart (up 8.7 per cent); Adelaide (up 6.5 per cent); and Brisbane (up 3.0 per cent). Prices fell in Darwin (down 6.0 per cent) and Perth (down by 7.0 per cent).  
Total returns on capital city dwellings in the year to September rose by 10.9 per cent with houses up 10.9 per cent on a year earlier and units up 10.6 per cent.  
Petrol prices
Today the national average wholesale (terminal gate) unleaded petrol price stands at 106.8 cents a litre, down 0.5 cents a litre over the week after falling by 0.9 cents in the previous week. The terminal gate diesel price stands at 104.2 cents a litre, up by 0.3 cents a litre after falling by 1.1 cents a litre over the previous week.  
Last week the key Singapore gasoline price rose by US$1.60 or 2.7 per cent to US$60.20 a barrel. In Australian dollar terms the Singapore gasoline price rose by $2.17 a barrel or 2.8 per cent to a 16-week high of $78.90 a barrel or 49.62 cents a litre.  
MotorMouth records the following retail prices for capital cities today: Sydney 122.6c; Melbourne 125.7c; Brisbane 107.5c; Adelaide 116.1c; Perth 103.5c; Canberra 118.7c; Darwin 109.8c; Hobart 121.7c.  
In the September quarter Australian petrol prices fell by between 2-3 per cent after lifting 5.9 per cent in the June quarter. As such, lower petrol prices are keeping downward pressure on the overall inflation rate.  
<a href="/images/2016/10/04/Screen%20Shot%202016-10-04%20at%208.18.35%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/10/04/Screen%20Shot%202016-10-04%20at%208.18.35%20AM.png" alt="">
Performance of Manufacturing.
The Performance of Manufacturing index rose by 2.9 points to 49.8 in August. A reading below 50.0 indicates that the sector is contracting. Before August the index had been above 50 for 13 months – the longest period of expansion since September 2006.  
AIG notes “Three of the seven activity sub-indexes in the Australian PMI® expanded in September after contracting in August. Production (52.6 points), deliveries (56.4 points) and sales (51.4 points) expanded and exports stabilised (50.0 points). Employment (46.7 points) and stocks (44.3 points) contracted again. New orders slipped into contraction (48.3 points).”  
“Comments from manufacturers in September indicate a steady improvement in demand and exports in some sectors after last month’s dip. Variability in the exchange rate and persisting oversupply in some markets is curbing activity. Margin pressures appear to be intensifying due to ongoing high input costs (particularly for imported inputs and energy). Lower government orders, the sharp fall-off in mining construction work and the completion of major infrastructure projects (with no imminent replacement projects in the pipeline) and wet weather in some locations has also dampened activity.”  
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What is the importance of the economic data? 
Weekly figures on petrol prices are compiled by ORIMA Research on behalf of the Australian Institute of Petroleum (AIP). National average retail prices are calculated as the weighted average of each State/Territory's metropolitan and non-metropolitan retail petrol prices, with the weights based on the number of registered petrol vehicles in each of these regions. AIP data for retail petrol prices is based on available market data supplied by MotorMouth. </div>
<div class="column">The CoreLogic Hedonic Australian Home Value Index is based on Australia’s biggest property database. Unlike the ABS Index, which excludes terraces, semi-detached homes and apartments, the CoreLogic Hedonic Index includes all properties. Home prices are an important driver of wealth and spending. The Australian Industry Group compiles the Performance of Manufacturing Index (PMI) each month. The Australian PMI is the Australian equivalent of the US ISM manufacturing gauge. The PMI is one of the timeliest economic indicators released in Australia. The PMI is useful not just in showing how the manufacturing sector is performing but in providing some sense about where it is heading. The key ‘forward looking’ components are orders and employment.
What are the implications for interest rates and investors?
Petrol prices are likely to remain volatile, reflecting discounting cycles and the push and pull of global factors. But overall, prices are likely to remain affordable compared with previous years. As such, the price of petrol is not having a big impact on consumer spending – more of a benign influence.</div>
<div class="column"> </div>
<div class="column">There is a fair debate on the accuracy of home price data. The bottom line is that prices are moving at different speeds across the country depending on the usual supply-demand influences. Recent trends aren’t a cause for concern. Using averages of settled sales across the entire country, prices are barely growing in annual terms.</div>
<div class="column"> </div>
<div class="column">Latest data shows that the Australian economy remains in good shape. </div>
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<div class="column"><a href="/images/2016/10/04/Screen%20Shot%202016-10-04%20at%208.17.25%20AM.png" target="_blank">Click to enlarge</a></div>
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<div class="column">Craig James is the chief economist at <a href="https://www.comsec.com.au/default.aspx" target="_blank">CommSec</a>.</div>
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cjames-5S2v74qSNK

Volatile home and petrol prices: Craig James

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Auction in Melbourne and Sydney will be quieter this weekend despite buyer activity ramping up in Melbourne and low listings numbers in Sydney, according to Domain Group’s chief economist Andrew Wilson.
He said just under 800 homes are scheduled to go under the hammer in Melbourne, lower than the 846 auctioned last weekend and well down on the 955 conducted over the same weekend last year.
"Melbourne’s inner east is the most popular region for auctions this weekend with 118, followed by the west with 114, the inner south 111, the north east 99, the outer east 98, the inner city 96, the north 80 and the south east 51," he said.
"Kew is the most popular auction suburb in Melbourne on Saturday with 16, followed by East Bentleigh and Richmond each with 14, Burwood with 13, Reservoir 12 and Brighton and Craigieburn with 11 auctions each listed at the weekend.
"The current strength of the market is being shared consistently by most suburbs, but the north continues to be the star performer."
He said just over 550 homes are listed to go under the hammer in Sydney on Saturday with this weekend’s auction activity remaining well below last year’s 832 listings recorded over the same weekend.
"The inner west is the most popular region in Sydney this weekend for auctions with 87 listed, closely followed by the upper north shore 86, the city and east 67, the south 62, Canterbury Bankstown 46, the south west 45, the lower north 42, the northern beaches 39, the west 37, the north west 32 the central coast 14 and the Blue Mountains with two auctions scheduled on Saturday," he said.
"Epping, Strathfield and St Ives are the most popular suburbs in Sydney for auctions this weekend with eight each, followed by Annandale, Leichhardt and Artarmon each with seven and Wahroonga, Baulkham Hills and Turramurra each hosting six auctions on Saturday.
"The Sydney home auction market tracked backwards last weekend following a month of boom-time results to start the early spring selling season.
"Sydney recorded a clearance rate of 77.1 percent last Saturday which, although sharply lower than the previous weekend’s 80 percent, remained significantly ahead of the 72.4 percent recorded over the same weekend last year.
"Although results were down last weekend, the Sydney early spring auction market continues to produce healthy results for sellers.  
"Auction numbers however remain well below last year’s record-level offerings. Total listings are also sharply lower with newly listed homes falling by 22.6 percent over August compared to the same month last year."
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