<a href="https://www.apartments.com.au/developers/sunland-group">Sunland Group</a> has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

The application was submitted by an entity directed by Tom Jamieson, stepson of longtime Sunland leader Soheil Abedian, and Riaz Rezvanipour, brother-in-law of Sahba Abedian, Soheil’s son.

Sunland acquired the 1,283 sqm site on the corner of Old Burleigh Road and Armrick Avenue for $9.5 million late last year and is now seeking approval for a <a href="https://www.apartments.com.au/new-apartments/99-101-old-burleigh-road-broadbeach-qld-4218">42-storey tower with 81 apartments</a>.

<img alt="First look: Sunland Group returns to Broadbeach with new Old Burleigh Road tower plans" data-entity-type="file" data-entity-uuid="fea2946d-90ee-4cfc-babe-2a8ad5db2cb6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers.png?VersionId=BV0fihJw31nDIQ8ozY_h3GbS8mxDyhnm" />

Designed by <a href="https://www.apartments.com.au/architects/contreras-earl-architecture">Contreras Earl Architecture</a>, the proposed tower at 99-101 Old Burleigh Road would deliver a predominantly larger-format apartment mix aimed at the owner-occupier market. Plans include 17 two-bedroom apartments, 55 three-bedroom apartments, and nine four-bedroom residences across 35 residential levels.

The development also incorporates three basement levels, four podium parking levels, two levels of communal recreation facilities, and rooftop plant and equipment. A total of 189 car spaces are proposed, significantly exceeding the 90 spaces required under the planning scheme.

The architecture adopts a sculpted, curvilinear form, with deep wraparound balconies and integrated landscaping intended to soften the tower’s vertical expression. The planning report states the building’s “slender footprint/form provides a complimentary yet varied built form within the local streetscape” and contributes to “a varied, yet ordered skyline.”

Contreras Earl noted in its Architectural Statement that from the early stages, the project addressed a fundamental challenge: how to accommodate the required residential yield while avoiding the conventional model of a tower sitting on a rigid, fully resolved parking podium.

“The most direct response would have been to consolidate parking into a singular, flat podium and extrude a repetitive tower above,” the statement said. “While efficient, this approach would result in a consolidated built form with limited engagement with the surrounding landscape and public realm.”

Instead, the conventional podium model was “deliberately rejected”. The architects described the base of the building as “a landscaped architectural condition where structure, planting and circulation are integrated”.

“Rather than presenting a continuous built mass, the base of the building is articulated through a series of concrete planter elements that organise the podium into a fragmented system,” the statement said. “This approach reduces the perceived bulk of the lower levels while establishing a more permeable interface with the streetscape and adjacent open space.”

<img alt="Sunland" data-entity-type="file" data-entity-uuid="923fad8d-c960-4527-8fbe-975cf1ddf88d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%2010.32.03%E2%80%AFAM.png?VersionId=pngwb0hYOIUpq9vDw6F2EsOiVuHF3DiX" />

&nbsp;

The site sits within the High Density Residential Zone and inside the City of Gold Coast’s unrestricted “HX” building height area, where the planning framework anticipates intensified residential development tied to the expanding light rail corridor. The planning report notes the area is undergoing “transition toward more intense development forms” given its proximity to Broadbeach, Surfers Paradise, and high-frequency public transport infrastructure.

Positioned directly opposite Broadbeach Park and within walking distance of Florida Gardens light rail station, the development would sit among a rapidly evolving stretch of Old Burleigh Road that has become one of the Gold Coast’s most active apartment development corridors.

The application joins a growing pipeline of luxury residential projects reshaping Broadbeach, including nearby developments by 5Point Projects, Polycell, and Graya.

The planning report argues the project contributes toward the Gold Coast’s long-term housing targets under the South East Queensland Regional Plan, which forecasts the need for more than 100,000 additional high-rise dwellings across the city by 2046.

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The Abedian family departed Sunland Group in late 2023, ending a four-decade association with the company, and subsequently established the private development firm Abedian &amp; Co. The group is currently delivering <a href="https://www.apartments.com.au/new-apartments/greenmount-residences-cnr-hill-street-and-marine-parade-coolangatta-qld-4225">Greenmount Residences</a> at Rainbow Bay and recently launched <a href="https://www.apartments.com.au/new-apartments/18-mary-avenue-14-18-mary-avenue-broadbeach-qld-4218">18 Mary Avenue</a> in Broadbeach.
</section>

Joel Robinson

First look: Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans

The Minns Labor Government has established the new Bays West Delivery Authority to lead the development&nbsp;of the Bays West Precinct and Blackwattle Bay Precinct.&nbsp;

The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart. Its vision is to build on the area’s natural, cultural and industrial history to shape a vibrant new neighbourhood.

The precinct will deliver up to 8,500 well-located homes, including a minimum of 10 per cent affordable and essential worker homes. Combine new housing with public open space, opening public access to the waterfront for the first time in more than 100 years, while retaining important deep-water facilities to support Sydney’s working harbour.

Located just minutes from the Sydney CBD and connected to a world-class metro, ferry, walking and cycling links, the Bays West precinct will rebalance housing growth towards well-serviced inner-city locations and help tackle the state’s housing crisis.

The Bays West Delivery Authority,&nbsp;an agency of the Department of Planning, Housing and Infrastructure, will report to the NSW Minister for Lands and Property who already has oversight of major precinct renewal projects including at Blackwattle Bay and Barangaroo.

As part of the broader Bays West transformation, the Minns Government recently announced that a proposal from Lendlease to redevelop part of the Bays West Precinct has progressed to Stage 2 of the NSW Government’s unsolicited proposals process.

<img alt="Sydney" data-entity-type="file" data-entity-uuid="2ed71eb9-d8e8-4fa7-b9d1-de4531dcf2f3" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-25%20at%209.42.31%E2%80%AFAM.png?VersionId=IDryFIbped9SNDg72LEN_EecvhUsOPvp" />

The Minns Labor Government has also confirmed the Bays West precinct will have a new suburb name. This will be the first major suburb built in close proximity to Sydney’s CBD in decades and will encompass the area currently being referred to as Bays West, including Glebe Island and the White Bay Power Station. Served by a new Metro station just five minutes from the CBD, it will become one of the most populous suburbs in the Inner West and one of Sydney’s premier cultural destinations.

An early works program is taking shape, which&nbsp;includes the first stages of an international design competition.&nbsp;

The aim of the Bays West&nbsp;International&nbsp;Design Competition is to&nbsp;ensure design excellence is embedded in the project from the start. The competition will deliver an&nbsp;urban framework that defines the character, ambition and long-term identity of&nbsp;this&nbsp;former industrial precinct as it transitions to a vibrant, inclusive and sustainable residential&nbsp;neighbourhood.

The competition will be led by the Bays West Delivery Authority in partnership with Government Architect NSW.&nbsp;

It will launch with an invitation for a global Expressions of Interest, before moving to an invitation-only stage that will be assessed by a panel that&nbsp;will provide advice to Cabinet who will select a winner.

Premier of NSW, Chris Minns said the establishment of the new Authority is the first step in transforming the Bays West precinct into a vibrant, livable suburb minutes from the Sydney CBD and two stops from Hunter St Station on the Metro West line.

“The Authority will deliver well-located homes close to the heart of the city and integrate the new precinct with Blackwattle Bay and the new Sydney Fish Market.

“This is a generational opportunity to build a new suburb on the city’s edge and open the harbour foreshore to the public for the first time in a century.”&nbsp;

Minister for Lands and Property Steve Kamper said the new Bays West Delivery Authority established by the Minns Government will turbocharge the development of Sydney’s newest suburb.

“The Authority is working at a record pace to deliver an international design competition, planning pathways and a financial model so that this development benefits Sydney with well-designed homes in a central location, close to public transport, jobs, entertainment and essential services.

“If we want Sydney to stay liveable and affordable, we need to be bold about using underutilised government-owned land to deliver homes for the future while making sure essential working harbour functions can be accommodated.”

Bays West Delivery Authority established to "turbocharge" Sydney’s newest suburb

Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings.

A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Renewal SA Acting Chief Executive Shane Wingard said he welcomed the code amendment, with the increase in heights and homes making a positive impact on the supply of high-quality, well-connected housing close to the city.

“By going higher across some parts of Southwark Grounds, we are adding a substantial number of very well-located homes with little impact on project delivery time or planned open space,” Mr Wingard said.

Since the project officially launched in 2025, Mr Wingard said more than 12,000 enquiries had been received about living at Southwark Grounds.

“The very strong early interest we’ve seen since homes were first released in the precinct reinforces our plans to create more housing opportunities,” he said.

The Southwark Grounds code amendment was launched in December last year, with community engagement undertaken over five weeks from January.

It proposed increasing maximum building heights from eight to 14 storeys on the eastern section of Southwark Grounds, and to 12 storeys across the remainder of the site, with minimum building heights ranging from two to four storeys.

The code amendment was implemented through an Early Commencement policy in late January, allowing developers to quickly explore the viability of increased height and housing yield while other planning processes continue.

One of the first developers delivering apartment sites have already finalised redesigns to increase the number of apartments following the code amendment.

Samaras’ development adjacent to the future Colonel Light Park is now planning to deliver 125 apartments across 11 storeys, significantly greater than original plans of around 50 apartments across four storeys.

The developer is also exploring the potential for additional affordable housing outcomes.

Most of the apartments at Southwark Grounds will be delivered within a master-planned precinct on a large parcel of land on the eastern portion of the site, covering around two-thirds of its 8.4 hectares.

Wingard said detailed precinct planning over the coming months may identify further opportunities to increase yield further that could see total apartment numbers at Southwark Grounds, exceed this number.

Affordable homes at Southwark Grounds will also see a net increase, with Renewal SA maintaining its commitment to a minimum of 20 per cent affordable housing across the development.

&nbsp;

&nbsp;

Civil works have begun across the site, with construction under way on the first new roads surrounding a townhouse precinct in the south‑west corner of Southwark Grounds. This includes Renewal SA’s 17 Founder’s Row homes, which are on track for completion by Christmas.

“We expect to have people living at Southwark Grounds by the end of the year, so delivering roads and public spaces for those residents is among our highest priorities.”

Construction of 40 townhouses off Anderson Street, known as West Village and being delivered by Contour, is forecast to begin in mid‑2026. Kolabb’s Anderson Lane development will follow shortly after, delivering a further 26 townhouses.

Southwark Grounds is a state government‑led urban renewal project now set to deliver around 1,700 homes over the next decade.

Homes will be supported by a supermarket, a range of retail and hospitality offerings anchored by a revitalised Walkerville Brew Tower, a childcare centre, car parking and well‑connected public spaces.

400 new homes planned for Adelaide's former West End Brewery site

Brisbane developer&nbsp;<a href="https://www.apartments.com.au/developers/cavcorp">Cavcorp</a> has lodged plans for a new mixed-use residential development at <a href="https://www.apartments.com.au/new-apartments/55-wyandra-street-teneriffe-qld-4005">55 Wyandra Street</a>, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

The buildings, known as Teneriffe House and Teneriffe Lane, would replace the existing Queensland Cotton head office site with a 15-storey residential tower transitioning to eight storeys toward Helen Street. The project has been designed by Plazibat Architects and lodged as a code assessable development application for 93 apartments across a 3,401 sqm mixed-use site within the Newstead and Teneriffe Waterfront neighbourhood plan.

Central to the scheme is the transformation of an existing service easement into a publicly accessible cross-block connection linking Wyandra and Helen Streets. Cavcorp says the new laneway will act as both a pedestrian shortcut and a landscaped civic space between the Teneriffe Riverwalk, ferry terminal, and Gasworks precinct.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="26e7f058-b065-4de8-b13d-a2b8cb64dfcc" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/bldg.png?VersionId=sELS0ZKYi361oYipUa1BIKfe_.DLZoFV" />

“The revised proposal delivers a legacy public-realm cross-block link, permanently secured for community use, transforming an existing private easement into a safe, high-quality pedestrian connection between the Teneriffe heritage riverwalk and the Gasworks–Long Island precinct,” the planning report states.

The laneway will sit beneath a large subtropical loggia integrated into the podium levels of the development. The design incorporates deep landscaping, water gardens, lobby spaces, business lounges, and ground-floor apartments to create what Cavcorp describes as a climate-responsive “urban verandah.”

The tower itself has been designed as a slender form with recessed floorplates and curved translucent corners inspired by contemporary Japanese architecture. The building height aligns with the Commercial Road precinct controls, which permit towers up to 15 storeys within proximity to Longland Street.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="a8a17d40-43b6-4718-b3fd-67676fcbb485" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/pers%202_1.png?VersionId=i3VwDtp5AmL_8InW7w4qRbDFEpb744Jt" />

The project will comprise a mix of larger-format apartments aimed at owner-occupiers, downsizers, and families. The proposed apartment mix includes 11 loggia apartments across the lower levels, 50 four-bedroom Sky-Terrace apartments from levels three to seven, and 32 Sky-Pool Homes occupying the upper tower levels. The Sky-Pool Homes will feature private thermal plunge pools integrated into oversized balconies.

According to the application, the apartments are intended to reinterpret the scale and character of Teneriffe’s woolstore conversions and Queensland homes within a vertical residential format.

“The sky-pool homes build on Cavcorp’s previous projects and introduce a distinct apartment typology to Teneriffe, informed by both local and international precedent and responding to an identified market demand for enhanced safety, space and amenity,” the planning submission notes.

A major focus of the proposal is its five-level wellness and lifestyle offering, extending from the basement through to the rooftop.

Amenities proposed include a rooftop Swim &amp; Racquet Club with a 25-metre Olympic lap pool and tennis court, coworking spaces and libraries, golf simulators, wine storage, concierge facilities, business lounges, pet wash areas, and rooftop longevity-focused wellness spaces with spas, outdoor fitness zones, and landscaped terraces.

<img alt="First Look: Cavcorp unveils Teneriffe House and Teneriffe Lane plans for landmark wellness tower in Teneriffe" data-entity-type="file" data-entity-uuid="944b352c-49b9-4247-a4c6-5967b4b69fda" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/amenity.png?VersionId=Ed_qKjAtMwFT.5gfl3jiA9QwdWxSMsaX" />

All parking will be concealed within basement levels accessed from Wyandra and Helen Streets. Cavcorp says the deep-basement engineering approach allows the entire ground plane to prioritise landscaping, pedestrian movement, and active frontage rather than vehicle infrastructure.

The development continues Cavcorp’s concentration in Newstead and Teneriffe, where the Brisbane developer has delivered a number of apartment projects including Lucent, Le Bain, and Luminare, as well as the Long Island Wellness Precinct nearby. Several of those projects have received national design and architecture awards, including recognition under Brisbane’s “Buildings that Breathe” program.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings

Focus Group Investments has lodged plans for a new apartment development at <a href="https://www.apartments.com.au/new-apartments/64-70-hanover-street-fitzroy-vic-3065">64–70 Hanover Street</a> in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

The proposal is among the latest developments to emerge through the state-led initiative, which was established to fast-track well-designed residential projects in activity centres and transport-connected inner-city locations. The pathway allows qualifying developments that meet elevated design and housing benchmarks to bypass traditional council planning timeframes and instead be assessed directly by the Department of Transport and Planning.

Designed by SJB, the development will comprise a mix of apartments above activated lower levels, with a strong focus on architectural articulation, landscaping, and communal amenity. The design response seeks to balance the industrial character of Richmond’s former warehouse precincts with a more contemporary residential form.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="abea51cc-d85b-479e-9aef-a589f3b37ca7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ground.png?VersionId=e1Kf8EyPWwyiVumtqQ4rM5S4GpOR3CCz" />

Proposed are 63 new dwellings, a wide ranging mix of studio, one-, two-, and three-bedroom apartments, and townhouses and duplexes. They will be spread across a part-three, part-eight storey building.

The Planning and Urban Context Report by Tract says the development is of an "exemplary architectural standard" and has been carefully crafted by SJB Architects.

"Dwellings&nbsp;will benefit from excellent access to natural light, cross-ventilation opportunities and extensive communal space," the report noted.

The architectural material highlights the project’s integration of landscaped elements and communal spaces throughout the building. The proposal also incorporates sustainability initiatives aligned with the Victorian Government’s push for higher-performing apartment developments under the fast-track program.

The Great Design Fast Track was unveiled by the Victorian Government in 2024 as part of a broader housing supply strategy aimed at accelerating the delivery of new homes. Projects assessed through the pathway must demonstrate high-quality architecture, sustainability outcomes, and housing diversity while being located close to public transport and existing infrastructure.

<img alt="First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Richmond apartments" data-entity-type="file" data-entity-uuid="afdbe834-8dc4-4a77-a943-ba07bc927348" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/site_11.png?VersionId=0J657j.TaChAZfp93wqJYBTqSsnREJx2" />

Focus Group, founder and led by Paul De Lutiis, is increasingly active across Melbourne’s inner suburbs, targeting well-connected urban renewal locations suited to medium and higher-density residential development. The Fitzroy proposal continues that strategy, leveraging the area’s strong transport links, established retail amenity, and proximity to the CBD.

Fitzroy has been one of the most popular spots for developers and buyers in recent years. The likes of PACE Development Group, SMA Projects, Crema Group and Chapter Group, currently selling projects in the suburb.

First look: Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments

Residential Market

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In the Illawarra, the fringe areas tend not to be too far from the main centres of Wollongong, Shellharbour and Kiama.
These include Cringila, Port Kembla, Unanderra and Dapto, Barrack Heights and Lake Illawarra. While seen as fringe areas, they still command strong prices and below $400,000 is now rare, according to Herron Todd White's property clock for April 2016.
<a href="/images/2016/04/15/Screen%20Shot%202016-04-15%20at%2012.53.43%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/15/Screen%20Shot%202016-04-15%20at%2012.53.43%20PM.png" alt="">
 
In Shoalhaven, the fringe areas are essentially the small coastal towns based around Nowra. These include Shoalhaven Heads, Culburra and Callala Beaches, Greenwell Point, Sanctuary Point, St Georges Basin and Sussex Inlet. All have local shops, local services, parks and schools, but do miss out on high street shops, discount departments stores, modern conveniences and good public transport. Most of all they lack a deep job pool. 
Typically, there is a commute to jobs in the larger towns for these services and employment opportunities (usually a 20 to 60 minute drive). Real estate prices reflect this lack of services but can be somewhat buoyed by tourism and out of area buyers seeking that holiday house dream. Buy in prices in the Shoalhaven fringe areas are typically around $250,000 in Nowra for which you will pick up a 50-year-old three-bedroom fibro in fair condition perhaps with a single garage. Rents are in the order of 5 percent to 6 percent of purchase price per annum in the lower levels. 
In the Illawarra region, the entry-level market is limited at the sub $450,000 price point to older style houses in southern suburbs such as Unanderra, Cringila, Berkeley, Warrawong, Dapto, Warilla, Mount Warrigal and Barrack Heights. These will generally be 1950s to 1960s brick or fibro 2- and 3-bedroom dwellings in fair condition and without major updates.
Look for those closer to the beach where better long term capital growth is achievable. Rental returns will be around 5 percent gross. 
Cringila, close to the steelworks, is generally priced under $350,000, but long term capital growth is likely to be pegged back due to location. 
For units, our pick in the lower price range fringe CBD areas are one- and two-bedroom units close to the CBD in West Wollongong and Keiraville. These will be older 1960s to 1970s walk up style units generally with off street or single car parking. Stock is running out though in the sub-$350,000 market. 
To the northern fringe, Corrimal and Fairy Meadow still have units under $350,000 and are well located near shops and transport routes. The market in these areas is dictated by the other more valuable sectors and therefore over time the prices will move with these, whether up or down. In our experience these areas are the last to have price rises in any period of uplift and generally the last to see a fall.
Interestingly, the Wollongong area overall may be viewed as a separate fringe area for Sydney, a 45-minute drive to the north. As discussed in previous issues, prices here have been tremendously boosted in the past two years by the unprecedented growth in the general Sydney metropolitan area.
Helensburgh to the north of the Illawarra is a fringe Sydney location, with good rail and road links to the CBD and Parramatta. In recent years we have seen market values increase as buyers in the southern parts of Sydney are priced out.
As in all markets there must be base product to buy and demand dictates where this is. As mentioned above the main drivers for stronger prices in the real estate sector are jobs, accessibility to public transport and public services availability. Easy to say but get these right and the rest will follow
Some recent sold properties that Property Observer found on realestate.com.au are: 
<img src="/images/2016/04/15/sparta1.jpg" alt="" width="491" height="368">
<div id="listing_header">
1. A three-bedroom beachside townhouse at <a href="https://www.realestate.com.au/property-house-nsw-warilla-122080962" target="_blank">3/1 Sparta Street Warilla NSW 2528</a> (above) sold for $437,000
2. A two-bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-wollongong-122216918" target="_blank">18/21 Bligh St Wollongong NSW 2500</a> (below) fetched $460,000
<img src="/images/2016/04/15/htw2.jpg" alt="" width="469" height="352">
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prateek24-ezbwHMbNAk

Illawarra's fringes command strong prices: HTW

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Victoria's Ballarat is a rising market for houses but on the decline for units, according to valuation firm Herron Todd White's April 2016 property clock, which also takes a look at its fringe suburbs.
Ballarat continues to see the $200,000 to $400,000 housing market the most commonly traded. This market reflects the affordability for first home buyers and young families. Within this market suburbs that are performing strongly include Ballarat East, Lucas and Delacombe. Ballarat East provides period, older style housing with a central location in comparison to the more modern suburbs of Lucas and Delacombe.
<a href="/images/2016/04/15/Screen%20Shot%202016-04-15%20at%201.34.54%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/15/Screen%20Shot%202016-04-15%20at%201.34.54%20PM.png" alt="">
Lucas and Delacombe provide a trade-off of location with modern housing conveniences. These fringe suburbs are unlikely to show marked increases in value in the short term due to excessive supply with increasing numbers of subdivisions coming onto the market.
Fringe suburbs on the eastern side of Ballarat such as Brown Hill provide more opportunity for growth with good demand due to the accessibility to the freeway for Melbourne commuters, however with a higher price point due to this factor.
While these fringe suburbs are unlikely to experience growth in value, they continue to provide a good quality, stable, long-term investment opportunity with good rental returns of around 5%. Demand for rentals within this market remains strong. 
Currently, demand for these outer fringe suburbs remains steady with a growing population resulting in expansion of the city boundaries. Lucas and Delacombe both include plans for increased infrastructure such as shopping centres, schools and parks. While planning for these facilities is in place, there remains a lack of transport infrastructure servicing these areas with road access to the CBD becoming increasingly busy with the fringe expansion.
From an investment point of view, both owner-occupiers and investors face a trade-off between inner city, older suburbs with older housing and good potential growth versus the option of low maintenance, modern housing with lower capital growth on the fringes.
Property Observer found a few examples of recently sold properties in Ballarat's fringes on realestate.com.au:
<img src="/images/2016/04/15/rent3.jpg" alt="" width="492" height="369">
1. A four-bedroom house with car space for two at <a href="https://www.realestate.com.au/property-house-vic-delacombe-116968007" target="_blank">5 Earls Square Delacombe Vic 3356</a> sold for $317,000
2. A three-bedroom house at <a href="https://www.realestate.com.au/property-house-vic-lucas-121823070" target="_blank">19 Sutcliffe Street Lucas Vic 3350</a> fetched a price of $327,000
<img src="/images/2016/04/15/rent4.jpg" alt="" width="472" height="354">
 
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Fringe suburbs in Victoria's Ballarat reflect affordability for FHBs: HTW 

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GUEST OBSERVER
Auction clearance rates give us insights into many aspects of the property market, but certainly not everything.
As we return to more stable conditions, it is becoming increasingly evident that we cannot rely on clearance rates alone to create the full picture of what is happening in Australian real estate.
Clearance rates refer to the number of properties sold as part of an auction campaign; this includes those sold prior to auction day, under the hammer and sold post auction.
At the end of last year, clearance rates fell to 50 percent in Sydney, triggering speculation of a spiraling market.
But two things were at play distorting these figures.
Firstly, the number of properties being auctioned was at record highs as opportunities to sell in 2015 diminished, giving buyers a lot more choice and lessening competition.
Secondly, auctions only made up 23 percent of all sales in 2015, so a large proportion of properties were being sold through private treaty, a more traditional method of sale.
This year we have seen some robust clearance figures in Sydney consistently around 75 percent, and while volumes are similar to the number listed this time last year, it is significantly less than we saw in the lead-up to Christmas. 
The number of homes being auctioned along the East Coast is expected to remain steady up to the June long weekend, but will be quieter over winter as it usually is.
Victoria last year recorded the highest percentage of auction versus private sales at 33.8 percent, followed closely behind by the ACT at 33.4 percent and NSW at 26.3 percent.
In contrast, auctions in Western Australia and Tasmania accounted for just 2.6 percent of the market.
When determining how property is performing, we can’t just limit ourselves to what is selling under the hammer. We need to look at how many people are attending open homes and the number of enquiries received by agents to determine the market strengths. 
It needs to take into consideration the micro-trends that are now starting to emerge within different capitals. What is happening in one suburb may not reflect what is happening across the city.
Auctions are fundamentally a methodology to market a property – it isn’t just a sales process.
It puts pressure on both buyers and sellers within a four-week time frame and importantly provides the best feedback on what buyers expect to pay.
Whether you decide to go to auction or not depends on many factors. The vendor needs to be happy to invest in both on and off-line marketing to promote the property. This investment is crucial in drawing out buyers.
An agent also won’t go to auction if they don’t feel there is enough competition on the day. Some may, however, run the sales campaign just to allow them to determine the right price and then sell through a private negotiation.
To truly understand the state of the market one should talk to their local agent, as they know intimately know their local market dynamics and the market more widely.
Grant Harrod is chief executive officer of LJ Hooker and can be contacted <a href="https://about.ljhooker.com.au/leadership-team" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Auctions aren’t always a proxy for the market: LJ Hooker's Grant Harrod

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NSW’s Bathurst (postcode 2795), one of Australia's oldest inland settlements, sits on the list of the most-searched suburbs in Australia in 2015 by rent.com.au.
The median rent for all rental properties advertised in Bathurst in the 30 days till February was $312 per week, up 4.17 percent or $12.50 from the previous quarter. 
The surrounding suburbs of Gormans Hill, Kelso, Mitchell, South Bathurst and West Bathurst, however, had a median rental of $350 in the 30-day period, and showed no change over a 90-day period too.
The average days on market for all rental properties advertised in Bathurst within the 90 days monitored was 29 days, nine days shorter than the previous quarter and 11 less than surrounding suburbs.
The price range was relatively narrow for properties advertised in the 30 days, with the lowest at $160 per week for a one-bedroom place and $440 pw being the highest for five-bedroom dwellings.
A total of 92 rental properties were advertised in Bathurst in the 30-day period, up four from the previous 30 days. Of these, there were 71 houses and 21 apartments. 
The regional city’s property composition made up for 72.3 percent houses and 27.7 percent apartments, according to <a href="https://rent.com.au" target="_blank">rent.com.au</a>’s report. 
Bathurst has a total of 1,389 rental properties, making up 48.9 percent of all properties in Bathurst (ABS, Census Data, 2011). 
Property Observer zeroes in on two examples of recently advertised dwellings around the median price on <a href="https://rent.com.au" target="_blank">rent.com.au</a>:
<img src="/images/2016/04/14/rocket.jpg" alt="" width="592" height="404">
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<li>A three-bedroom unit at <a href="https://www.rent.com.au/property-unit-bathurst-2795-1694811" target="_blank">2/90 Rocket Street</a> (above) is available for rent at $330 per week. </li>
<li>
A three-bedroom house at <a href="https://www.rent.com.au/property-house-bathurst-2795-1692817" target="_blank" style="line-height: 1.3em;">98 Durham Street</a> (below) is up for rent for $295 per week. 
</li>
</ol>
<img src="/images/2016/04/14/durham.jpg" alt="" width="565" height="460">
The ASX-listed Rent.com.au Ltd achieved a record 615,405 unique visitors to its website in January, followed by more than 610,000 unique visitors in February.
Landlords are able to list their property for free in a limited time offer on <a href="https://www.rent.com.au/" target="_blank">rent.com.au</a>.
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NSW’s Bathurst scored over neighbours in median rents: rent.com.au

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The valuation firm Herron Todd White has issued its latest property clock for the residential market - a simple broad brush means to suggest where property markets are in April - and what direction prices are moving in.
The regional Victoria city of Horsham joins Melbourne -- also in Victoria -- at the top of the April property clock for units. Horsham is at the peak for the houses clock too. The others (including Melbourne) Coffs Harbour, Dubbo and Newcastle all retain their positions from March, making the peak of market a contest between between Victoria and New South Wales.
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While Sydney unit were listed in declined, the report noted that in the Sydney southern suburb of Engadine that unit media prices have risen from $415,000 in December 2012 to $617,500 in February 2016, according to realestate.com.au.
The Gold Coast and Ipswich in Queensland are approaching the peak of the market, while Brisbane and Sydney continue to remain in decline.
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<div>Previously HTW had advised a cooling off in the Sydney property market was looking increasing unlikely, at least in the short term.</div>
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<div>"The future over the medium to long term however remains uncertain.</div>
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<div>"One worrying fact is that rental growth has not increased at a level even close to the growth of Sydney property prices.</div>
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<div>"This suggests that the involvement of investors appear to be speculative with many banking on capital gains rather than attractive rental yields.</div>
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<div>"It appears that this increased investor activity (speculative based or otherwise) is driving housing prices to rise faster than fundamental factors suggest they should in the Sydney market.</div>
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<div>"Factors including the aforementioned falling interest rates, continued strong presence of overseas buyers (fuelled by the falling Australian dollar), tax incentives and positive market sentiment, has seen unaffordability levels continue to soar in the Sydney market with home ownership becoming more unattainable for many, especially young people looking to break into the market." </div>
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<div>The report on regional localities noted Port Macquarie’s growth over the past twelve months has been the strongest on the Mid North Coast during the past five years and while the fringe suburbs have shown increases in value over that time, their rate of increase has been behind that of established residential areas within the township.</div>
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Victoria and NSW jostle at peak of market for units: HTW clock

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The inner suburbs always get plenty of press, but options lay beyond the hipster belt. 
Fringe suburbs present an affordable way into the market, especially if you are a first-time buyer and as long as you choose a prospect with the right fundamentals, you can expect your holding to show good long term growth, according to valuation firm Herron Todd White's property clock for April.
Given the growth in values achieved in the Sydney metropolitan area of late, the metamorphosis of older suburbs into modern living spaces that have been driven by location and buyer demand have changed the faces of many for the better. HTW focuses on suburbs within 20 to 25 kilometres of the CBD as the primary location for this shift.
Sydney South
Starting with the southern end of Sydney, we have seen Engadine and Kirrawee in the Sutherland Shire as two of the standout performers with significant growth and redevelopment changing these areas. The buzz has mainly come from the affordable price point for first-home buyers and upsizers.
In addition, the re-zoning for duplexes and new unit complexes has created an increase in current DA applications.
The Engadine shopping precinct has expanded over the past decade with the big three supermarket chains along with a number of restaurants and cafes drawing people to the suburb. Engadine is seen as ideal for buyers wanting to live within one of the few regions in Sydney bounded by national parks, close to Sydney’s southern beaches and with direct access to the CBD which is less than 50 minutes by train. The next five to 10 years in Engadine will see more development of high density units and duplex style dwellings. Engadine has seen median house prices increase from $600,000 in December 2012 to $885,000 in February 2016 with unit median prices increasing from $415,000 to $617,500 over this time period (source: realestate. com.au).
Property Observer found a few recently sold units around the median range on realestate.com.au.
<img src="/images/2016/04/13/image2-2.jpg" alt="" width="575" height="431">
1. A two-bedroom apartment at <a href="https://www.realestate.com.au/property-unit-nsw-engadine-121990510">11/6 Preston Avenue Engadine NSW 2233</a> (above) sold for $595,000 recently.
<img src="/images/2016/04/13/main-1.jpg" alt="" width="510" height="383">
2. Another recent sale was that of a three-bedroom apartment at <a href="https://www.realestate.com.au/property-apartment-nsw-engadine-121423654">1/1084 Old Princes Highway Engadine</a> (above) NSW 2233 sold for $630,000.
On a larger scale, Kirrawee is seeing huge redevelopment with a new $8.5 million hotel development on a site on the Princes Highway which was once home to a service station and motor mechanic. The new hotel will be almost opposite the Brick Pit site which sits at the junction of the existing retail strip, industrial factories and residential development, only 200 meters from Kirrawee train station. This site, approved for approximately 750 residential apartments between six and 14 storeys with a large commercial and retail presence, will be constructed at a cost of approximately $500 million.
A similar large-scale development is already under construction at Woolooware Bay which neighbours the Cronulla Sharks Football Stadium. The former car park and playing fields will be transformed into approximately 600 apartments with resortlike facilities including pools, spas, massage room, rooftop theatre and BBQ area set amongst lush gardens. There will be a retail, cafe and dining precinct, with the entire development adjoining foreshore parklands. 
A few recent sales in Kirrawee are 
<img src="/images/2016/04/13/image4.jpg" alt="" width="569" height="427">
1. A two-bedroom apartment at <a href="https://www.realestate.com.au/property-unit-nsw-kirrawee-122032070">31/602 Princes Highway Kirrawee NSW 2232</a> (above) for $580,000
<img src="/images/2016/04/13/main.jpg" alt="" width="561" height="421">
2. A two-bedroom apartment at <a href="https://www.realestate.com.au/property-unit-nsw-kirrawee-121869534" target="_blank">20/494-496 President Avenue Kirrawee</a> fetched $545,000
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Sydney's fringe suburbs of Engadine and Kirrawee hold promise for FHBs: HTW

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GUEST OBSERVER
The number of loans (commitments) for people who are buying or building homes to live in (owner-occupiers) rose by 1.4 percent in February after sliding by 4.4 percent in January.
The average home loan across Australia fell for the third consecutive month down by $15,200 to $357,200 in February – the biggest monthly decline on record. And it was the biggest percentage decline for a February month.
Retail petrol: According to the Australian Institute of Petroleum, the national average Australian price of unleaded petrol rose 4.1 cents per litre, to 114.4 cents per litre in the week to April 10.
Capital cities: In Adelaide, the average petrol price is currently below $1 a litre. In Sydney and Brisbane, prices are near $1.25 - $1.29 a litre after lifting a much as 20 cents a litre in the past week.
Chinese inflation: Chinese consumer prices fell by 0.4 percent in March to be up 2.3 percent on the year (forecast 2.5 percent). Producer prices fell by 4.3 percent over the year (forecast -4.6 percent).
Food inflation: Over the year food prices are up 7.6 percent with non-food prices up just 1.0 percent.
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The housing finance data has implications for banks, building material suppliers and retailers. The petrol figures have implications for retailers, especially petrol marketing groups. The Chinese inflation data is of importance to exporters and importers.
What does it all mean?
The housing sector has shown signs of slowing, however Aussies are still taking out home loans to build homes or buy homes to live in, albeit at a more moderate pace. Overall it is an encouraging result suggesting that a soft landing is underway. The lift in loan activity in February is a sign of confidence in both the state of the job market and the outlook for interest rates.
<a href="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%203.04.05%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%203.04.05%20PM.png" alt="">
It’s no surprise the strength is in the owner occupied market with loans still up 15 percent on a year ago. In contrast, investor loans are down over 7 percent compared with this time last year. The cooling in the property market is a welcome sign given the ramp up in property over 2014/15.
In addition, a key guide to house price growth - the average loan size - has fallen for the third straight month, down by 4.1 percent or over $15,000 in February – the biggest monthly decline in dollar terms on record. The result was driven by the average loan for established dwellings (down 8 percent over the past three months) and new dwellings (average loan down by over 12 percent in the past three months).
It should be noted that the average home loan is influenced by home prices, composition of borrowers and the geographic location of home purchases.
Interestingly the value of owner occupier and investor loans to build new homes rose by a sizable 5.8 perccent in February and is holding just of record highs - partially a function of price growth.
The Chinese inflation data has clearly been affected by the seasonality in higher food prices (in particular pork prices – up 28 percent over the year to March). Outside food, inflation remains low at 1.0 percent. The timing of Chinese New Year can cause distortions in economic data as has already been apparent in the trade figures.
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<img src="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%203.05.27%20PM.png" alt="">
The lift in petrol prices last week was more a function of the discounting cycle across capital cities rather than any major shifts in global oil markets.
Motorists would be well rewarded for keeping an eye on petrol signboards and filling up at the cheap end of the cycle. In Adelaide, petrol is below a $1 a litre, while In Sydney and Brisbane, prices are near $1.25 - $1.29 a litre after lifting a much as 20 cents a litre in the past week. Melbourne prices peaked 10 days ago and have so far eased to around $1.20 a litre.
What do the figures show?
Housing finance - number
The number  of new owner-occupier housing loans (commitments) rose by 1.4 percent in February after sliding by 4.4 percent in January. Excluding the refinancing of dwellings, the number of loans was up by 1.6 percent.
Loans by owner-occupiers for the construction of homes  fell by 1.9 percent in February; loans to buy newly erected dwellings  fell by 15.4 percent; and loans for the purchase of established dwellings  (excluding refinancing) rose by 5.5 percent. The number of refinancing transactions  fell by 0.4 percent.
Housing finance - value
The value of new housing commitments (owner occupier and investment) rose by 2.6 percent in February after a 3.7 percent increase in February. Owner-occupier loans rose by 1.7 percent while investment loans rose by 4.1 percent.
The value of loans by owner-occupiers and investors to build new homes rose by 5.8 percent in February after a fall of 1.6 percent in January. The value of loans to build new homes stood at a 14-month high of $2.95 billion, marginally weaker than the record high of $2.97 billion in December 2014.
 Housing finance – other statistics
The proportion of first-time buyers in the home loan market fell from 15.1 percent to 14.7 percent in February. (However the figures take into account refinancing loans and as such the figures may misrepresent the true situation).  
The proportion of fixed rate loans eased from 13.6 percent to 13.1 percent in February. And the average home loan across Australia stood at $357,200 in February, up 7.8 percent on a year ago, but down 4.1 percent in the month.
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<img src="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%203.06.38%20PM.png" alt="">
Chinese inflation:
Consumer prices fell by 0.4 percent in March to be up 2.3 percent on the year. The annual result was below the forecast of 2.5 percent but in line with the February result.
Non-food prices fell by 0.1 percent in the month to be up 1.0 percent over the year. The February annual result was also +1.0 percent. Prices of consumer goods rose 2.5 percent over the year (February 2.6 percent) with services up 1.9 percent (February 1.8 percent).
Food prices fell by 1.8 percent in March after rising by 6.7 percent in February (reflecting Chinese New Year effects). Food prices are up 7.6 percent over the year, up from the 7.3 percent annual gain in February. Pork prices fell by 1.3 percent after rising by 6.3 per cent in February. Pork prices are up 28.4 per cent in the year to March, up from the 25.4 per cent annual increase to February.
Consumer good categories (year to March): Food, tobacco and alcohol 6.0 percent; Clothing 1.5 percent; Rent, fuel &amp; utilities 1.3 percent; Household goods 0.4 percent; Transport and communication -2.6 percent; Education, culture and recreation 1.2 percent ; Healthcare 3.1 percent; Other goods and services 1.7 percent.
Producer prices fell by 4.3 per cent in the year to March, firmer than the 4.9 per cent decline to February and below market forecasts centred on a 4.6 per cent decline. It was the smallest rate of decline since January 2015.
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Petrol prices
According to the Australian Institute of Petroleum, the  national average Australian price of unleaded petrol rose by 4.1 cents per litre to 114.4 cents per litre in the week to April 10. The metropolitan petrol price rose by 5.5 cents to 115.2 cents per litre while the regional price rose by 1.1 cents to 112.7 cents per litre.
The national average Australian price of diesel petrol rose by 0.7 cents to 112.3 cents per litre in the week to April 10. Last week the metropolitan price rose by 0.5 cents to 111.3 c/l, while the regional average price was up 0.9 cents to 113.2 c/l.
Average unleaded petrol prices across states and territories over the past week were: Sydney (up by 4.9 cents to 110.1 c/l), Melbourne (up by 12.3 cents to 124.9 c/l), Brisbane (up 7.2 cents to 116.9 c/l), Adelaide (down 6.0 cents to 100.5 c/l), Perth (down 0.5 cents to 111.5 c/l), Darwin (up by 0.2 cents to 115.6 c/l), Canberra (down 0.1 cents to 117.0 c/l) and Hobart (up by 0.2 cents to 117.4 c/l).
Today the national average wholesale (terminal gate) unleaded petrol price stands at 101.4 cents per litre, down 2.8 cents per litre on a week ago but still up 5.6 cents a litre on than the lows set in mid-February. The terminal gate diesel price stands today at 94.50 cents a litre, down 2.2 cents a litre over the week.
Last week the key Singapore gasoline price rose by US80c or 1.5 per cent to US$53 a barrel. In Australian dollar terms the Singapore gasoline price rose by $2.11 a barrel (3.1 per cent) to $70.34 a barrel or 44.24 cents a litre.
MotorMouth records the following retail prices for capital cities today: Sydney 125.9c; Melbourne 119.7c; Brisbane 128.7c; Adelaide 99.5c; Perth 100.8c; Canberra 111.3c; Darwin 114.4c; Hobart 117.7c.
What is the importance of the economic data?
Housing Finance data is produced monthly by the Bureau of Statistics and shows commitments by lenders, such as banks, to provide finance for housing purposes. The lending figures relate to those looking to buy or build homes to live in as well as those seeking to buy or build homes for investment purposes. Generally people get their finance organised first, so the figures are regarded as a leading indicator on the housing market.
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.
China’s National Bureau of Statistics releases its monthly economic statistics around mid-month. Quarterly GDP data is released around the 19th of January, April, July and October. China’s Customs Office releases trade data, and the People’s Bank of China releases financial statistics, around the 10th of each month. China is Australia’s largest trading partner and changes in the Chinese economic have major implications for the Aussie economy.
What are the implications for interest rates and investors?
Petrol prices look set to bounce around current levels although capital city motorists must still contend with the vagaries of the discounting cycle.
While it is hard to read too much into it, Chinese consumer prices have lifted in recent months largely due to the seasonality in food inflation. If inflation was a result of stronger demand, it would be seen as positive in the current environment by investors.
The Reserve Bank will be comforted by the more stable conditions in the investor housing market.
CommSec expects no change to interest rate settings for the foreseeable future.
Savanth Sebastian is an economist for <a href="https://www.commsec.com.au/" target="_blank">CommSec</a>
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Record drop in average home loan: CommSec's Savanth Sebastian

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Horsham, a regional city in the Wimmera wheat growing region in western Victoria, is the new entrant at the top of the April property clock for houses.
The valuation firm Herron Todd White has issued its latest property clock for the residential market - a simple broad brush means to suggest where property markets are in April - and what direction prices are moving in.
All the other four are from NSW, namely Coffs Harbour, Dubbo, Newcastle and Central Coast and have retained their peak of market position from March as well. 
Horsham’s residential real estate market continues to provide a stable investment for both owner-occupiers and investors. The urbanisation of today’s population is bringing senior members of the community to central service hubs such as Horsham and generally increasing the larger centre’s ability to attract and retain the younger generation and continuing its population growth. In turn this brings about expanding outer built up fringe areas and increased prices for inner city property located in close proximity to shops and services.
As real estate in inner city Horsham continues to appreciate, more and more buyers are looking for cheaper alternatives. In larger centres such as Ballarat or Melbourne, this would see buyers moving further out of town into the suburbs and becoming more reliant on the local neighbourhood shopping centre. 
In Horsham, this phenomenon is generally different and sees families moving to smaller nearby town such as Murtoa and Dimboola that are located within a 30 minute drive of Horsham but maintain schools and local shops. House prices in these smaller towns are significantly lower than Horsham. As an example, Horsham’s current median house price sits at $290,000 while Dimboola’s median house price is a far more affordable $120,000. When weighing up size and affordability, regional towns are definitely an option.
Among the others, Gold Coast has climbed one notch from a rising market to approaching the peak. Sydney remains in the 'starting to decline' phase, while Mount Gambier and Townsville continue to stay at the bottom of the market.
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<img src="/images/2016/04/11/Screen%20Shot%202016-04-07%20at%203.21.47%20PM.png" alt="">
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Victoria's Horsham joins NSW regions at top of house clock: HTW

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GUEST OBSERVER
Australian housing finance approvals ticked up in Feb, in line with expectations and confirming other indicators suggesting markets have had a better start to 2016 after a weak finish to 2015.
The detail showed a surprisingly solid gain for investor loans but continued softening in construction-related finance approvals.
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<img src="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%202.36.17%20PM.png" alt="">
The number of owner occupier approvals rose 1.7 percent in Feb, recovering about half of Jan’s 4.8 percent fall (revised down from –3.9 percent).
Click to enlarge
<img src="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%202.38.22%20PM.png" alt="">
That compares to the market forecast of a 2 percent gain – the revision to Jan bringing the final result more in line with Westpac’s 1 percent call.
Note that the holiday low period tends to make monthly housing data choppier and less reliable at the start of the year.
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<img src="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%202.41.06%20PM.png" alt="">
‘New’ owner occupier approvals (ex refi) were a little firmer, up 2.5 percent mth but with annual growth more moderate (3.2 percent yr vs 5.9 percent yr including refi).
The value of housing finance approvals to investors was a mild upside surprise, lifting 4 percent mth after a 1.6 percent dip in Jan.
<a href="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%202.42.23%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/11/Screen%20Shot%202016-04-11%20at%202.42.23%20PM.png" alt="">
The total value of finance approvals to both owner occupiers (ex refi) and investors was up 3.8 percent mth, 2.7 percent yr.
Overall, the picture points to a relatively steady start to the new year, something also apparent from auction market activity.
Matthew Hassan is senior economist with <a href="https://www.westpac.com.au/" target="_blank">Westpac</a>.
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Australian housing finance February 2016: Westpac's Matthew Hassan 

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Over the three months to December 2015, 7.6 percent of Canberra homes re-sold at a loss compared to 11.2 percent over the previous quarter and 10.9 percent a year earlier, according to the latest Pain &amp; Gain report from Core Logic RP Data.
It was Canberra's lowest proportion of loss-making resales since February 2014.
<a href="/images/2016/03/30/Screen%20Shot%202016-03-30%20at%203.38.54%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/03/30/Screen%20Shot%202016-03-30%20at%203.38.54%20PM.png" alt="" width="813" height="236">
Across Canberra 69 auctions were held this week with a 64 percent sales success including the $1,515,000 sale of the former bolthole of the former Federal Treasurer Joe Hockey.
The fringe property market of Canberra has undergone significant development within the past 24 months, say valuation firm Herron Todd White in their April 2016 property clock.
The median price for a house in Forrest is $2,150,000, according to CoreLogic RP Data.
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