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.

<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/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe>

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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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>
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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">
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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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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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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>
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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>
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<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.
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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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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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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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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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‘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.
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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.
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<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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