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.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe>

"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.

[smartcode_project:default project_id=135096 project_image_fid=356818]

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.

[smartcode_project:default project_id=5743 project_image_fid=925]

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."

[smartcode_project:default project_id=5743 project_image_fid=5374]

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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The commodities downturn continues to affect dwelling prices in Western Australia with three Perth properties remaining on the SQM Research Top Ten Discounted Properties list.
Louis Christopher, SQM Research managing director said there were no surprises there.
"No surprises there - the commodities downturn has left many properties in the city stranded, or at least their vendors," he said.
"As the SQM Research Weekly Asking Price Index<a href="https://sqmresearch.us5.list-manage.com/track/click?u=9badbd870addb4af72206c2eb&amp;id=792a479795&amp;e=0aab96dc54"> </a>shows, house and unit prices have been falling for some time in Perth.
"Despite the buoyancy in east coast property markets, there is no sign of an easing in the downturn in Perth, or Darwin, for that matter."
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Commodities downturn leaving some WA vendors stranded: SQM Research

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The annual rate of capital gain has slowed from its peak but remains quite strong according to CoreLogic with the average national combined capital gain from houses over the last 12 months at 7.2 percent.
Capital gains for apartments stand at 5.5 percent, according to CoreLogic.
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Annual rate of capital gains slowing from market peak: CoreLogic

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GUEST OBSERVER
Today’s millennials are fast turning their backs on traditional marketing, instead choosing to consume and interact through virtual reality, but their willingness to buy into the imaginary and immaterial has real life conversions.
Long before the Pokémon renaissance took full effect, Marshall White Projects was reinventing the way off the plan properties are marketed and sold to Gen Ys and Millennials. 
This generation has changed the game; they are heavily reliant on the digital sphere and entrust it with major life decisions.
People plan dates, book accommodation and apply for jobs with people they’ve never met and in places they’ve never been, online every day – so why would we expect any less of them when it comes to purchasing property?
This demographic is more accepting of the off-the-plan model and accustomed to investing in sites unforeseen, so what is it that makes them take the plunge, swipe right and commit to the unknown? 
Aesthetics. They say a picture speaks a thousand words and for a time-poor generation with a shorter attention span than a goldfish, it isn’t any wonder that digital assets are outperforming traditional marketing strategies. 
These buyers are far savvier for having grown up in a digital landscape, their discerning tastes transcend the physical with renders, fly throughs and 3D floorplans of greater value to them than a stagnant display suite.
With this in mind, Marshall White Projects took 308 Carlisle Street to market without a display suite nor budget for print advertising. Each of the 45 apartments were sold in under six weeks, with the majority of purchasers aged between 25 and 35. 
Drawn to the bohemian Balaclava location, buyers were enticed by a refined sales campaign that simply put forth the advantages of a well-connected lifestyle and an apartment of prestige. 
It’s not the first time Marshall White Projects has proved its ability to earn, not buy results in an overly saturated market. Earlier this year the agency sold all 27 luxury apartments at High&amp; Spring in the same timeframe without any traditional or digital advertising and achieved a staggering sales average of approximately $1,050,000 per apartment. 
Buyers are overloaded with choice and bombarded with advertisements, which has made them less perceptible to traditional marketing tactics. This as an opportunity to better invest the hundreds of thousands of dollars developers would spend on lavish display suites into innovative alternatives that are not only cost and time effective, but more authentic and impactful. 
In order to be effective you must know your audience, what they value, who they trust, where they source their information – these things often hold more significance than their gender or profession and allow us to develop tailored marketing strategies that resonate with our buyers on a deeper level.
Our integrated approach simplifies the sales process and leverages technology, videography, photography, renders, brand partnerships, and direct marketing to achieve a far more cost effect result within the shortest possible time frame.
Leonard Teplin is director, Marshall White Projects and can be contacted <a href="https://www.marshallwhiteprojects.com.au" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Gen Y changes the property game

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Prices have again been on the rise, but will the mighty Sydney residential market be tamed this spring like last spring? That's the big question as we start the peak selling season.
Probably not by much as buying demand is strong, and new supply remains low.
The early September low stock levels pretty much following the trend of much of the year. New listings are down by 20 percent year on year, according to CoreLogic.
Normally low listings mean vendors don't think they can get their asking prices.
But there's no such lack of confidence on that front with the Sydney weekend auction clearance rates stepping up through the 70s and even into the 80 percent plus stellar success levels.
Yes there is a back-of-mind anxiety about the future of the Australian economy which inhibits some listing activity.
The mid-year Federal election certainly didn't help momentum with Tracey Fellows, the head of realestate.com.au, saying uncertainty surrounding the July election outcome contributed to listings being down 11 per cent compared last year. 
Sydney's boom-like conditions are now effectively four years long - give or take a few minor pauses since things started to turn upwards in mid-2012 - so those opportunistic speculative offerings by savvy operators have virtually been exhausted.
Sure there's always the demographic offerings - arising from births, deaths, marriages and divorce. But the common cry from many a prospective seller has been "where could I buy." And so they hold off their listing because they can't see the answer.
Last month at Pennant Hills, in Sydney's north-west, a four-bedroom family home sold for $1,824,000 at auction, at $174,000 above the highest offer made before the auction. 
The four-year-old house only went on sale because of a marriage breakdown.
It was strongly contested - with 10 registered bidders - in an area starved of stock, Ray White agent James Andrews said. 
There are 2555 homes in Pennant Hills and not one per cent is on the market, he noted.
"Stock levels are low. It's a very, very desirable area."
There are just five September auctions in Pennant Hills advertised on realestate.com.au, with Andrews having two of these offerings next weekend. There are another six houses listed by private treaty.
Housing market conditions are very different from region to region, capital city to capital city, but the unexpected re-emergence of strong price growth in Sydney has caught most forecasters - and presumably the RBA and APRA - off-guard. 
Tim Lawless who heads research at CoreLogic says listings matter.
"The number of properties being advertised for sale provides a vital clue about the direction of housing prices.
"Those cities where advertised stock levels remain short are continuing to see upwards price pressures, while cities with historically high stock levels are seeing downwards pressure."
CoreLogic is currently tracking just over 19,000 listings across the metro region of Sydney.
"As a comparison point, when the Sydney market was moving through a down phase between late 2010 and mid-2012, CoreLogic was tracking just over 40,000 properties on the market," Lawless advised.
"The fact that Sydney listing numbers remains so low is one of the factors providing the upwards pressure on housing prices.
"Buyers simply don’t have a lot of stock to choose from, which creates urgency in the market and provides leverage to vendors when setting and negotiating their prices," Lawless noted.
Being spring we are likely to see an upwards trend of newly advertised properties enter the market.
But will it be enough to tame the market’s strength?
This article was first published in the Saturday Daily Telegraph.
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Sydney spring price prospects to be shaped by stock influx

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The main industry driver of the Mackay residential market over the past ten years has been the resource sector located in the Bowen Basin and the large service industry located in Mackay, according to Herron Todd White.
The mining sector had a significant boom which peaked during 2012 and 2013.
Mackay had the highest median house value for regional coastal cities in Queensland and one of the lowest vacancy rates (under 1 percent).
But the valuation firm has noted since this time, there has been a significant reduction in the mining industry with large redundancies, mine closures and flow on effects.
"This has seen the Mackay residential market fall up to 30 percent since the peak and vacancy rates blow out to in excess of 8%," its latest report noted.
It is considered that without an increase in the coal price and announcement of large projects, the Mackay market will not see any appreciable increase in value.
However, with every downturn there are some silver linings.
"Mackay was always seen as a mining town with inflated prices and increased costs of living associated with the high wages generated in the mining industry.
"Since the downturn, it is now considered Mackay is an attractive proposition to non mining workers such as teachers, police officers, firemen and ambulance offices, who would have not considered Mackay previously."
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Mackay prices now attractive to non-mining workers: HTW

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The ever-popular Barwon Heads on the Bellarine Peninsula recorded the highest median house price in regional Victoria, at $835,000 – significantly higher than the metropolitan Melbourne median of $725,000.
It was typified by a <a href="https://www.realestate.com.au/property-house-vic-barwon+heads-121253138" target="_blank">five bedroom cottage that sold at $835,000</a> (below) earlier this year having been listed at $900,000 last November. It last sold at $585,000 in 2009 and in 1999 at $189,500.
<img src="/images/2016/08/23/Screen%20Shot%202016-08-23%20at%209.41.42%20AM.png" alt="">
<a href="https://www.realestate.com.au/property-house-vic-barwon+heads-122147970" target="_blank">A pretty Barwon Heads weatherboard</a> (below) recently sold having been listed with $820,000 hopes.
<img src="/images/2016/08/23/Screen%20Shot%202016-08-23%20at%209.42.52%20AM.png" alt="">
With a median house price of $780,000, the Ballarat suburb of Lake Wendouree also exceeded the state’s capital.
The suburb has experienced significant price growth of more than 25 per cent over the year, according to the REIV.
High median house prices were also recorded in a number of coastal towns within commuting distance of Melbourne. 
In the 12 months to June 30, Lorne on the Great Ocean Road was also popular with buyers, recording a median house price of $750,000 – more than double the statewide median of $347,000.
Still on the Surf Coast, Anglesea and Torquay also made the list of most expensive towns in regional Victoria, with median house prices of $685,000 and $680,000 respectively. Both locations have experienced double-digit price growth in the past year. 
Nearby Jan Juc was another strong performer with a median house price of $615,000.
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Barwon Heads tops Victoria's priciest regional towns

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Warrnambool is Victoria's largest coastal city outside Port Phillip Bay and East Warrnambool in particular is starting to feel the effects of gentrification, according to property valuation firm Herron Todd White.
In their property clock for March 2016 -- a simple broad brush means to indicate the state of the market -- the valuation firm also dealt with the issue of gentrification in detail, including a section on Warrnambool.
East Warrnambool is an established residential area of Warrnambool, with development consisting of 1950s to 1980s built homes. 
"This area is starting to become more popular and heading towards a gentrification era, with the key driving factors being the relatively affordable nature of the suburb and its proximity to the CBD, beach and Hopkins River," said HTW. 
Most purchasers looking at an East Warrnambool location want to be able to buy at an affordable level and spend the money on either renovations or small developments, as there is no land in this area for larger residential developments. 
The five-year outlook for this area of Warrnambool is strong with purchasers hopefully being able to increase their capital in time, say HTW.
The median house price in Warrnambool was $322,500, while for units it was $260,000, according to recent RP Data.
As an example, a three-bedroom house at <a href="https://www.realestate.com.au/property-house-vic-warrnambool-122762490" target="_blank">1 Selby Road, Warrnambool, Vic 3280</a> (above) traded hands for $327,000, around the median price.
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Victoria's Warrnambool heads toward gentrification era: HTW

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Melbourne based residential developer AVJennings continue to make profits in the housing boom, showing a 19 percent profit increase in FY16.
The company stayed away from the over-supplied CBD high-rise markets and saw their net profit rise to $40.9 million.
The profits came due to its increased housing lot sales, with chief executive Peter Summers suggesting traditional housing had the steadiest outlook.
"Our markets, that is the traditional housing markets, remain under-supplied."
"The customer base is traditional, stable, domestically based and in need of housing, rather than speculators." 
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The growing revenue hit $421.9 million, an increase of 32.7 percent, and the full-year dividend payout rose by 25 percent to 5¢.
Below are AVJennings FY16 results
<a href="/images/2016/08/19/AVJennings%20FY16%20results.jpg" target="_blank">Click here to enlarge</a>
<img src="/images/2016/08/19/AVJennings%20FY16%20results.jpg" alt="" width="412" height="213">
AVJennings pipeline plans are extensive, with developments planned all over Australia and one in New Zealand.
Summer acknowledged the widespread concerns of oversupply, but suggested that it's concentrated on the CBD apartment markets, and there's a large under-supply of housing in the wider market.
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"We've been saying for some years that we believe this type of product of apartment construction is the wrong type of product for many Australians and it has created too much product in certain markets."
"Our strategy has been to focus on a stable base of traditional buyers.
"We haven't chased what see as potentially more risky markets for short term gain."
AVJennings offshore buyers only represent one percent of their purchasers.
 
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AVJennings stay away from CBD over-supply for 19 percent FY16 profit boost

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House price growth is set to slow in Sydney and Melbourne while other capitals will make up lost ground, the Housing Industry Association has forecast. 
It estimates since prices bottomed out during May 2012 that detached house prices have increased by 40 per cent across the eight capitals between May 2012 and July 2016.
<a href="/images/2016/08/18/Screen%20Shot%202016-08-18%20at%2011.39.18%20AM.png" target="_blank">Click to enlarge</a><a href="/images/2016/08/18/Screen%20Shot%202016-08-18%20at%2011.37.55%20AM.png" target="_blank"></a>
<img src="/images/2016/08/18/Screen%20Shot%202016-08-18%20at%2011.39.18%20AM.png" alt="">
The largest house price rise occurred in Sydney over this period (+65.7 per cent), followed by Melbourne (+45.2 per cent) and Brisbane (+18.6 per cent).
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HIA senior economist Shane Garrett estimates that building materials demand for the construction of new detached houses peaked last year, and will see some easing back over the remaining years of the decade.
"The market has seen significant expansion since hitting a low point in 2012," he said.
"In the case of plasterboard, for example, demand bottomed out 56.55 million sqm in 2012 before growing to 70.98 million sqm in 2015 as a result of the upturn in activity.” 
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House prices have increased by 40 percent across the eight capitals since May 2012: HIA

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The Canberra residential market is complex with many factors interacting to affect demand, supply and ultimately prices, according to the latest Herron Todd White report.
The valuation firm suggested on a macro level, the Canberra residential market - aided by historically low interest rates - has a number of underlying positives including generally strong employment and a perception of good job security.
"With a transient population and periods where government departments employ graduates and new staff, both rental and sales demand increase.
"Population growth and interstate migration are considered main market drivers.
It suggested demand for family homes is a local market driver, second and third home-buyers with families are looking for centrally located housing in close proximity to schools and services.
Affordability remains an issue for this section of the market, HTW advised.
"With the sitting Liberal government re-elected, public service employment prospects remain steady, although some caution was evident in the lead up to the result.
"Winter is also traditionally slightly slower, so there is an expectation that Spring conditions and improved certainty after the election result will improve the overall market position."
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