ASX-listed developer Cedar Woods is progressing its plans for its Southbank arts precinct site.&nbsp;

The developer has filed plans, which are now with the&nbsp;Department of Transport and Planning, for a new 20-level tower at&nbsp;<a href="https://www.apartments.com.au/new-apartments/141-151-sturt-street-southbank-vic-3006">141–151 Sturt Street</a>, a 2,718 sqm block opposite the Habitat Filter sculpture.

The proposal seeks to demolish the two-level&nbsp;commercial building, including a small supermarket and medical tenancies, and create a new building with 180 apartments and a focus on an&nbsp;active public realm and arts integration.

&nbsp;

<img alt="Southbank site" data-entity-type="file" data-entity-uuid="76a72db6-91ef-43ae-827d-a9cfa72893d2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Site.png?VersionId=DZgtB4K6BswVh0QtCs3iLjXaLp0CbcEb" />

&nbsp;

There will be a full mix of apartment configurations, including 28 studio apartments, 16 one-bedroom, 104 two-bedroom, and 32 three-bedroom units.

Retail, creative arts, and residential amenity functions are integrated across the lower levels. A food and drink tenancy is planned to front Dodds Street, while a retail tenancy fronting Sturt Street will be accessed via an elevated walkway. The first floor includes a substantial 734 sqm creative arts space, envisioned to support Melbourne’s growing cultural and digital industries.

Architecture firm <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has put together the plans. In their&nbsp;Urban Design Report they highlighted the project’s ambition to embed itself within Southbank’s evolving cultural fabric.

A central feature of the design is a through-block link connecting Sturt and Dodds Streets, landscaped with native plantings and embedded with universal access ramps.

“The ramp has been thoughtfully integrated as the primary access point, ensuring universal accessibility for all users,” the report noted, with the link offering “a direct response to the urban planning scheme of creating more green spaces within our communities”.

<img alt="Southbank podium" data-entity-type="file" data-entity-uuid="4d24b1b2-d69c-4a11-a11d-ec6df432221c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/podium.png?VersionId=geWoJyZDmPSLODZ_.PNJ0LvpOmyyCdpo" />

The building’s podium form responds to the mandatory height limits along Dodds Street and maintains a fine-grain interface to adjoining developments. Above the podium, the tower is articulated with recessed balconies and a focus on views toward the CBD and surrounding arts institutions. A communal rooftop recreation deck and indoor lounge are positioned on level four, adjoining seven apartments and providing over 900 sqm of resident amenity space.

Vehicle access and loading will be provided via Dodds Street, with 155 resident car spaces located across two basement levels and the first three above-ground floors. Bicycle storage is more generous, with 226 spaces distributed across resident, staff and visitor needs.

Rothelowman describes the architecture as “humanist,” with ground-level interfaces designed to encourage social interaction and provide a dignified entry for both residents and passers-by. “All street interfaces are crafted to invite and nurture human connections,” the design report states. “The façade transitions to a human scale, providing an approachable and engaging streetscape”.

Cedar Woods, while well-known for its large communities it develops outside of Australia's capital cities, they have recently developed in Melbourne's inner-ring before. They are approaching completion at <a href="https://www.apartments.com.au/new-townhouses/88-leveson-north-melbourne-88-leveson-street-north-melbourne-vic-3051">88 Leveson</a>, just 15 townhouses in the heart of North Melbourne.

Joel Robinson

Cedar Woods progresses with new apartment plans in Southbank arts precinct

Brisbane developers Core Property Partners and Vector Property Australia has teamed up for Brisbane's newest apartment development.

The duo identified <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as their preferred suburb, on the fringe of the Gabba Precinct, where they've just revealed BANKSII, 72 apartments opposite Raymond Park.

[smartcode_project:default project_id=136432 project_image_fid=5481]

The one-, two-, and three-bedroom apartments will sit in a glass-wrapped building that will also feature a rooftop with an&nbsp;infinity-edge pool, a BBQ area and alfresco dining spaces, sun lounges, and a sauna, as well as a resident-only gym and a ground-floor cafe.

Rhett Williams, Director of Vector Property Australia, said the project will lift the quality of the East Brisbane community and set a new benchmark.

"In Brisbane’s current property landscape, <a href="https://www.apartments.com.au/new-apartments/banksii-east-brisbane-169-wellington-road-east-brisbane-qld-4169">BANKSII</a> stands out through its emphasis on lifestyle-oriented living, connectivity and sophisticated design," Williams says.

[smartcode_project:default project_id=136432 project_image_fid=5479]

The 10-level building has been designed by MAS Architecture. Their designs were inspired by the native Banksia flower, with the architecture and interiors reflecting the organic symmetry of its namesake flora. MAS has interpreted this throughout the building’s curved form, façade detailing and interior palette.&nbsp;

The building’s flowing geometry and natural tones are complemented by large balconies and floor-to-ceiling glazing, maximising cross-breezes, daylight and views over the city, parklands and river.

“Having a strong narrative for a building helps us architecturally,” MAS noted. "We can choose colours that come off that species of flowers. The trunk and the trees and the flower elements all are now visible in our joinery on the inside and in our architectural finishes on the outside."

[smartcode_project:default project_id=136432 project_image_fid=5485]

Apartments will feature timber floors, soft porcelain tiles, brushed bronze fittings, and stone benchtops with warm veining.&nbsp;

Kitchens feature premium SMEG appliances and generous storage, while bathrooms have been designed as calming retreats with curved cabinetry and twin sinks in the master ensuites.

The building will feature a suite of rooftop and wellness amenities. Residents will have access to an infinity-edge pool, BBQ and alfresco dining areas, sun lounges and a rooftop sauna.&nbsp;

A residents-only gym will be located on the podium level, while a ground-floor café and landscaped laneway will further activate the site and improve neighbourhood connectivity.

[smartcode_project:default project_id=136432 project_image_fid=5488]

BANKSII will rise from a prime Wellington Road site, with the building oriented to overlook the adjacent Raymond Park and take in extensive city views. It is also on the doorstep of key&nbsp;lifestyle infrastructure, including the future Kangaroo Point Green Bridge, The Gabba stadium, and the planned Brisbane Live arena.&nbsp;

Public transport options, including ferry, bus and rail - including the future Cross River Rail Woolloongabba station - are all nearby, supporting a car-optional lifestyle just minutes from the CBD.

Williams said the team spent over a year searching for the ideal site before securing this location.

"We were attracted to <a href="https://www.apartments.com.au/developments/east-brisbane-qld-4169">East Brisbane</a> as it is a vibrant and growing community that offers a perfect balance of urban convenience and natural beauty with the parklands and river on our doorstep.”

The project is part of the broader Woolloongabba Games precinct, which is undergoing significant investment in the lead-up to the 2032 Brisbane Olympics. This urban renewal, coupled with infrastructure upgrades, is expected to enhance long-term liveability and capital growth in the area.

Given the wide max of configurations, BANKSII is expected to suit everyone from first home buyers and investors to families and downsizers.

[smartcode_project_cta:default project_id=136432]

BANKSII sales launch in booming East Brisbane apartment market

The Minns Labor Government will deliver Sydney’s first new heavy rail station in more than a decade – enabling up to 10,000 new homes by rezoning land around Woollahra and Edgecliff stations, right next to the CBD, to tackle the housing crisis and rebalance growth across the city.

Recent reports by the NSW Productivity Commission have warned that Sydney is losing twice as many young people as it is gaining, while also finding that Woollahra is the most feasible Local Government Area (LGA) in New South Wales to build new housing.

Despite this, housing approvals in Woollahra consistently lag well behind other LGAs, and the population has declined by 11 per cent over the past 50 years while Greater Sydney as a whole has grown by 74 per cent.

The new station that will be an eight-minute trip from Sydney CBD, will be located on the Eastern Suburbs train line in Woollahra, where a station build was started in the 1970s but never completed.

To enable the delivery of new homes the NSW Government will lead a rezoning of Woollahra and Edgecliff stations similar to other state led rezonings to allow additional homes to be built around the stations.

Affordable housing will also make up a proportion of development on the site with the final amount of affordable housing required, to be determined as part of the rezoning process.

The area surrounding the new station is within walking distance of major green and recreational space including Cooper, Trumper, Rushcutters Bay and Centennial Parks.

The Eastern Suburbs train line between Bondi Junction and Sydney CBD also has the lowest passenger usage rates during the AM peak of any line on the Sydney network, with only 43 per cent of operating capacity during the AM peak currently being utilised by passengers.

Sydney Water and Infrastructure NSW have confirmed there is capacity in the water and wastewater systems to accommodate the proposed 10,000 dwellings without major upgrades.

The rezoning is expected to take around two years and will further support the Government’s housing targets that rebalance the delivery of new homes around existing infrastructure.

&nbsp;

&nbsp;

Next stop Woollahra train station - delivering up to 10,000 new homes in the heart of Sydney

<section data-element_type="section" data-id="b086848">
Fresh off completing its mixed-use Malvern project Malvern Collective, Kokoda Property Group has acquired a prime site on Richmond's Bridge Road.

They are planning a mid-rise residential development with&nbsp;integrated wellness amenities and a vibrant ground-floor retail and dining offering.

The site, at&nbsp;487–495 Bridge Road, spans&nbsp;1,650 sqm with 50 metres of dual frontage across Bridge Road and Palmer Street. It is currently leased to Adairs, and has a large retail building and 20 onsite car parks.
</section>

<section data-element_type="section" data-id="534a164">
Kokoda Property Group’s acquisition forms part of a broader phase of growth in Melbourne, building on momentum from the completion of Malvern Collective and the recent purchase of a Burnley Street site for the developer’s first commercial project.&nbsp;

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating.

“Melbourne is regaining momentum,"&nbsp;Stevens said.

"After a cautious period post-COVID, we’re seeing buyer sentiment stabilise and capital leaning back into well-located, quality projects. Victoria now benefits from deep builder capacity and competitive delivery pricing, creating a rare opportunity to bring design-led inner-city developments to market without compromising on craftsmanship.

“Richmond ticks all the boxes for us – connectivity, culture and everyday amenity – making Bridge Road the perfect address for an amenity-rich, multi-use development."

<img alt="Kokoda" data-entity-type="file" data-entity-uuid="9a8de51d-8092-480a-8b7e-e081816692c2" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-08-29%20at%208.54.27%E2%80%AFAM.png?VersionId=VRHpV5.6beOu2cieKHWrw3ErMPuVOAuj" />

Envisioned as an “urban lantern” the building will bring a distinctive new presence to Bridge Road with a sculptural retail frontage, designed to honour the street’s heritage character while contributing to its renewal.

Stevens said the acquisition reflects the developer’s commitment to design-led addresses in Melbourne’s inner city.

“Drawing on Richmond’s rich heritage and dynamic character, we’ve envisioned a contemporary building that respects the past while elevating the way people live today. With dual frontages, curated ground-floor spaces, and a focus on wellness, this project will contribute to the neighbourhood’s evolution, appealing to both downsizers and a new generation of professionals.”

Kokoda Property will now progress concept design ahead of a future planning process.
</section>

Mark Stevens, Kokoda Property Group’s Founder and Managing Director, said that the company’s Bridge Road site acquisition signals confidence in a city that is re-accelerating

First look: Kokoda secures Richmond site for new apartment development

Gold Coast developer Drew Group is fast approaching sell-out at its Main Beach apartment development, Lagoon Main Beach.

In the last nine months, Drew Group and sales partner Pezet Matheson have secured 31 sales totalling over $75 million, as the two-tower development advances towards completion under the expert eye of Hutchinson Builders.

“Today's buyers are more discerning than ever," Drew Group Managing Director Jon Drew says.

"It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

[smartcode_project:default project_id=108747 project_image_fid=193023]

Just over 50 per cent of recent&nbsp;sales have been to local buyers, reflecting the deep trust and connection within the Gold Coast community that Drew Group has developed over the years.

Demand has been particularly robust at the top end, with two of the three exclusive penthouses already sold, alongside five sub-penthouses. Only seven apartments remain in Lagoon's Signature Series — one&nbsp;penthouse and six sub-penthouses.

[smartcode_project:default project_id=108747 project_image_fid=284864]

Drew Group has also removed the much-maligned sunset clause from all contracts at Lagoon. The sunset clause — although rarely invoked, yet on occasion known to have been — allows developers to take back contracts on apartments should the building not be completed within the timeframe specified in the contract.

Pezet Matheson Co-Director Jayde Pezet says the fact Lagoon is&nbsp;within a year of completion, and has no sunset clause in contracts, provides certainty to buyers.

"This is paramount in the current market," Pezet says.

Drew Group has committed to providing the highest level of security inclusions — none more impressive than the Ubiquity Access Control System, a cutting-edge facial recognition technology that is one of the most state-of-the-art keyless entry systems on the market.

[smartcode_project:default project_id=108747 project_image_fid=190743]

One of the biggest drawcards to Lagoon has been the size of the apartments.

"It is unlikely that any future new development in Main Beach will be able to offer such spacious living at this price point," Drew says.

"Today's buyers are more discerning than ever, carefully evaluating amenities like gyms, spas, workspaces, and beach lockers, along with quality finishes. It's essential to provide something truly unique that sets a development apart, and we believe Lagoon has achieved just that."

Lagoon is set to complete construction in mid-2026.

[smartcode_project_cta:default project_id=108747]

Lagoon Main Beach approaches sell-out as local buyers drive $75m in sales

Residential Prices

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Come in spinner or should that be spinners?
In a property week that can only be described as unprecedented we have had the prime minister, treasurer and newly elected NSW premier all declare that they are going to tackle housing affordability.
Previously housing affordability was a bit like going to your doctor for the annual check-up where after your consultation you advise the doctor that you don’t need to see the results. For years and years, our elected politicians have refused point blank to accept any responsibility for being the actual cause of this problem.
The new premier is already stumbling and stuttering where she stated that the heart of the problem is supply so NSW must build more properties. We all know that, this is only a part of the problem, so then the remedies moved to negative gearing (a federal problem) which explains why the prime minister has been silent following his announcement that he too, will personally pursue the housing affordability issues in Australia.
Next, the premier stated that she needed to make sure that the state’s finances are in order before she considers changing stamp duty. I would refer the premier to her media release on December 15, 2016. “NSW has recorded the lowest unemployment rate of the nation for 18 consecutive months and has widened its lead over the next strongest state, the latest ABS data shows. Our unemployment rate is by far the lowest in the nation and demonstrates our economic strength.”
Of course, the premier may always wish to investigate just why in Sydney we presently have public transport considered to be amongst the worst in the world. Back in November 2012 a global survey of 27 of the most important cities in the world ranked Sydney as fourth – worst for public transport. To make matters worse the survey also identified that Sydneysiders pay more for public transport than anywhere else.
Despite that embarrassing finding where our public transport would be even worse since that survey NSW continues to attract more than 50 per cent of the residential investment spend in Australia. On top of that it was revealed this week that the Sydney median house price had climbed a further ten percent in 2016 to now sit at $1,123,991 – another new record.
<a href="https://www.propertyobserver.com.au/images/2017/01/29/Investor-Lending.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/29/Investor-Lending.png" alt="">
Most people already know the answer to Australia’s housing affordability woes – look no further than the Henry Tax Review that was commissioned back in 2008 then published in 2010 only to be ignored by elected politicians because it was too hard and significantly threatened their parliamentary pensions. The report consisted of nine broad themes with point 8 stating – “Toward more affordable housing: substantially increase rent assistance, gradually move to a uniform land tax and remove transfer taxes (stamp duty), and gradually move to a neutral treatment of rental and owner – occupied housing.”
The Henry Tax Review has now come back with a vengeance and deservedly biting our politicians where it hurts. Although the real reason why NSW refuses to make changes to Stamp Duty is succinctly explained in the following graph.
<a href="https://www.propertyobserver.com.au/images/2017/01/29/NSW-Stamp-Duty.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/29/NSW-Stamp-Duty.png" alt="">
In Australia, currently the Top 10 taxes deliver 90 per cent of Australia’s taxation revenues. Three of the state taxes are in the Top 10 taxes by revenue collected, although these three state taxes are at the bottom of the Top 10 and represent less than 11 per cent of all tax revenues.
Many simply say increase the taxes for foreign buyers, although there are major issues on that horizon when this week two major Chinese private providers of home price data stopped publishing figures so what’s happening to the home-grown Chinese property markets? The Chinese Index Academy stopped distributing monthly housing price data for 100 cities which was usually made available at the commencement of each month. The Academy told Reuters last Friday, it had suspended distribution indefinitely and then politely declined to provide a reason.
Coincidentally on New Year’s Eve the Chinese government issued a statement that effectively makes it much harder for Chinese investors to now get their money out of China. In an email I received on January 5 here are the key points.
<ul>
<li>The individual annual foreign exchange purchase quota of $50,000 is unchanged.</li>
<li>Banks are “encouraged” to increase scrutiny of currency transfers.</li>
<li>Banks must report any overseas transfers by individuals of US$10,000 or more.</li>
<li>Starting in July 2017, banks and other financial institutions in China will have to report all domestic and overseas cash transactions of more than 50,000 yuan ($7,201), compared with the current amount of 200,000 yuan.</li>
<li>Beijing is signalling to banks, companies and individuals that it disapproves of foreign spending and investment, except for a few purposes that are explicitly defined by the government (e.g. buying foreign-made machinery to increase the efficiency of a Chinese factory).</li>
<li>Overseas property investment has been called out by at least one major Chinese bank as insufficient reason for transferring money abroad.</li>
</ul>
With great interest, we shall watch very carefully how the Chinese buyers perform in 2017 especially as very little (actually nothing) has been written on these forced changes by the Chinese government.
Housing affordability will be major election issues at forthcoming state and federal elections and that could not happen to a nicer group of politicians who have been complicit by neglecting these issues for decades.
Oh and on Australia Day, 2014 Mosman had 68 houses on the market, 2015 it fell to 58, then in 2016 it fell to 45 and this week it’s 25.
ROBERT SIMEON is a director of <a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> and has been selling residential real estate in Sydney since 1985. 
He has also been writing real estate blog <a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> since 2000.
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Politicians to battle housing affordability - an oxymoron? Robert Simeon

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It’s only a matter of time before Melbourne overtakes Sydney as the price growth leader in capital city Australia.
Pretty much everyone now accepts that Sydney is subsiding, as every available statistic confirms what Hotspotting research has been telling us all year – that Sydney activity peaked late in 2014 and has been on a slow fade right throughout 2015.
Melbourne, however, continues to rise.
In the latest price data from CoreLogic, up to the end of October, the annual price growth gap between Sydney and Melbourne has closed considerably. In the past three months, Melbourne’s home value index has increased 3.1%, easily the biggest among the capital cities, while Sydney’s rose only 1.5%.
In annual terms, Sydney is up 15.6% and Melbourne 12.8%. In a month or two, those positions will be reversed.
The reason Sydney is still above Melbourne at the moment, despite Sydney fading while Melbourne is rising, is that the price data is many months behind the game. 
On ABC TV yesterday business commentator Alan Kohler displayed a graph which suggested a correlation between auction clearance rates and median price movements, but with a time lag of several months in the reaction of prices.
(Kohler, incidentally, made the mistake of placing great emphasis on the monthly movement in the city price indexes – he should know that month-to-month changes in statistics are often meaningless aberrations. Many of the monthly movements are contradicted by the quarterly changes, which are far more significant.)
It’s taken quite a long time for Sydney prices to respond to the slowdown in activity, but history shows this is quite normal. It also shows that median prices are rather a blunt instrument for measuring the state of markets. Sales volumes are far more revealing and can put you ahead of the game in terms of likely price movements.
The latest sales data shows that Melbourne has been rising steadily throughout this calendar year, quite the opposite to Sydney. 
Each quarter has shown an uptick in sales activity, with the greatest momentum occurring away from the millionaire suburbs close to the CBD. This may explain why Melbourne clearance rates are dropping at a time when overall sales activity is rising and the overall city median is rising – the busiest markets are those less likely to use auctions.
There are still plenty of strong middle market areas – notably the municipalities of Whitehorse (Box Hill, Nunuwading, Blackburn), Monash (Oakleigh, Mt Waverley, Clayton) and Knox (Wantirna, Boronia, Bayswater) – but the greatest momentum is now the outer ring precincts. Locations likely to attract first time buyers and others on smaller budgets are really pumping in Melbourne. 
The LGAs of Whittlesea (Epping, Thomastown, Mill Park) and Hume (Sunbury, Roxborough Park, Gladstone Park) in the north of the metropolitan area are among the market leaders on activity.
In the far south-east, the Casey LGA (Cranbourne, Doveton, Endeavour Hills) has numerous strong markets, while Brimbank (Sunshine, Deer Park, Cairnlea) in the western suburbs is being greatly boosted by infrastructure spending and urban renewal projects.
Wyndham City LGA in the south-west has surged. In Point Cook, for example, sales numbers in the past six quarters have been 289, 313, 350, 396, 395 and 420. Other suburbs in this LGA, such as Werribee, Hoppers Crossing and Wyndham Vale, have similar patterns.
When sales volumes surge like that, prices follow – with a time lag.
 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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When sales volumes surge, prices follow: Terry Ryder on Melbourne's outer ring

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On Wednesday night I watched finance commentator Alan Kohler on ABC TV puzzling over the apparent contradiction of sharply-falling loans to investors and rising prices in the major cities.
His basic message was: it doesn’t make sense and it can’t continue. 
His basis problem was: it didn’t occur to him that some of the data he was presenting might be rubbish.
He shares this problem with commentators, economists and journalists right across Australia. No one ever questions the real estate data that’s pumped out by publicity-addicted research companies – not even when it’s patently absurd and clearly wrong.
We had the situation recently where one of big research firms published figures showing that house prices fell in six of the eight capital cities in the March Quarter. That was treated as gospel and interpreted as evidence that the alleged boom was over.
Around the same time another of the big numbers companies published figures claiming that house prices rose in six of the eight capital cities in the March Quarter. That result was reported as truth as well, with no one (apart from me, it seems) noticing that the two sets of figures totally contradicted one another and that two conflicting messages were being sent to the public. 
One source said Adelaide was leading the nation on price growth while another said its prices were falling at the fastest rate since 2012.
So back to Kohler who is very good at making sense of share-market events and economic data, but not so bright when it comes to real estate. He displayed a graph suggesting loans to investors have dived. He attributed this to the crackdown by APRA and the reaction of major lenders.
That was starkly at odds with reports in media only days earlier, claiming that “investors have begun flooding back into the market”. Newspapers reported that investors were 47.6% of all new mortgage commitments in March, the highest proportion since August 2015. This was attributed to “some lenders reversing the tighter lending requirements that were previously in place”. 
So Kohler’s graph told quite the opposite story to the figures published elsewhere. And he made the incorrect assumption – the Labor Party is making the same mistake with its negative gearing policy – that price rises are caused exclusively by investors.
His next problem - his confusion over prices rising so much against a background of apparently plummeting investor lending – was based on his blind acceptance of the May price growth figures from CoreLogic.
Like so many journalists and commentators, he fell into the trap of (a) accepting published figures as unchallengeable and (b) placing big emphasis on month-to-month movements. He’s been around long enough to know better. 
Much of the data purporting to depict monthly changes in prices in our major cities is worthless. Indeed, it’s worst than worthless, because it’s misleading and causes confusion for consumers. 
The CoreLogic figures for May would have us believe that the apartment prices rose 8.4 percent in Hobart. Seriously? Hobart units have added 8.4 percent in value in a single month? I visited Hobart just a week ago and there is nothing happening in that market to justify that figure, nor the one that says Hobart unit prices have risen almost 19 percent in the past 12 months. These figures are made of an artificial elastomer synthesized from petroleum byproducts (they’re rubbery).
The same research source claims that Darwin apartments prices fell 10 percent in the month of May; that Canberra apartment prices fell 6 percent; that Perth prices fell 6.3 percent; and that Sydney house prices rose 3.6 percent. All those dramatic movements in property values in a single month – are they believable? I would suggest not. 
Everyone reporting these numbers has expressed breathless amazement, but it hasn’t occurred to anyone that maybe the figures are a tad sus – or that short-term movements in median prices or value indexes are essentially irrelevant because a month is too short a time frame to deliver a meaningful pattern.
If you examine month-to-month movements in anything – retail spending, building approvals, the jobs market, you name it – you’ll find the numbers are quite erratic. Often they’re just statistical aberrations, but economists will be lining up to attribute great significance to them. 
Only the long-term trend matters and only that should be reported - and then only with care, because you can be sure that the numbers you’re recording today will be contradicted by another set from other source tomorrow.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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Some data depicting monthly residential price changes is worthless: Terry Ryder

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The Department of Treasury's Working Paper into perceived links between foreign investment and residential property price growth has been released with statistics finding the driver of the majority of recent price growth could not be attributable to increased foreign demand.
The study found the majority of foreign residential purchases are of the new property, not existing and foreign demand has accounted for only a small proportion of the increase in property prices over recent years.
The release said other factors such as interest rates, financial deregulation, incomes, demographics [population growth] and the prices of alternative investments, such as equities, have played a role.
"Given that in the short run the supply of residential property is relatively fixed so any increase in demand, whether domestic or foreign, should result in higher prices," it said.
"Indeed, there have been many other significant domestic drivers of property prices over the period examined.
"The majority of foreign investment approvals are for new as opposed to established dwellings.
"This provides some indication that, in the longer-term, foreign demand is increasing property supply consistent with Australia’s foreign investment framework."
Charles Pittar, chief executive officer of Chinese international property website Juwai.com said the Parliamentary Inquiry into foreign investment found the same thing three years ago, although without the impressive statistics.
"The results are no surprise and they confirm what we have said for years," he said.
"Offshore buyers drive huge benefits for the Australian real estate market and economy, as well as billions of dollars of job growth and physical investment in new housing. "I'm not sure how many minds it will change. For most people, it's just too easy to blame an easily identifiable group like offshore buyers when prices get hot. "It sounds a bit harsh for the FIRB to say Australian property buyers have a 'herd mentality,' but we certainly love our real estate." "Most experts believe Sydney and Melbourne are heading for price slowdowns. If we want to keep adding new homes to the supply despite that, then we need to encourage foreign buyers - rather than push them away."
The report can be downloaded <a href="https://treasury.gov.au/PublicationsAndMedia/Publications/2016/Foreign-Investment-and-Residential-Property-Price-Growth" target="_blank">here</a>.
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jonathanchancellor-7SQnKwU6yx

FIRB study fails to link foreign buyers to high residential price growth

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Houses in Dubbo, the NSW Central Coast and Newcastle are at the peak of the market cycle according to analyst firm Herron Todd White's property clock for houses in September.
Houses in Melbourne, the NSW Central Coast and Newcastle were at the peak of the market cycle in August.
Melbourne has been amended back to a rising market.
Bundaberg and Toowoomba are in decline. Townsville and the Whitsundays are at the bottom on the market.
<a href="/images/2016/09/16/Screen%20Shot%202016-09-16%20at%2010.50.38%20AM.png" target="_blank"> Click to enlarge</a>
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HTW said away for the beachside suburbs in the NSW Central Coast to the outer lying suburbs, a whole identity is being established with new land being created to cater for new and affordable housing requirements.
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"These areas include the Warnervale Release Area which includes the suburbs of Woongarrah, Hamlyn Terrace and Wadalba. The land created has consistently enjoyed a good take up rate and new, project style homes are abundant in these areas," it said.
"So if there is an embedded but not yet traditional style of housing, the emergence of housing estates would have to be it. The underlying reason for the growth in popularity of this style of housing can be linked to the influx of buyers from Sydney who have found themselves out priced there.
"To many, the affordability and better lifestyle has proven a blessing."
Around Newcastle, according to HTW, Nelson Bay's housing market has undergone significant changes in recent times.
"There is anecdotal evidence is showing the market has stabilised somewhat in 2016, however Nelson Bay is still experiencing considerable activity in home renovation and investment, particularly in units."
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Houses in Dubbo, NSW Central Coast and Newcastle at market peak: HTW property clock

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CoreLogic's latest capital city housing market indicator has found Sydney home values increased by less than 4 percent over the past three months, Melbourne's by 3.4 percent and Canberra up by 1 percent.
Sydney home values have increased by 3.9 percent over the past three months and are 9.4 percent higher over the past year. The annual rate of value growth has slowed from a peak of 18.4 percent in July 2015
<a href="/images/2016/09/06/CoreLogic_Graphs/Screen%20Shot%202016-09-06%20at%201.28.25%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/06/CoreLogic_Graphs/Screen%20Shot%202016-09-06%20at%201.28.25%20PM.png" alt="">
Melbourne home values have increased by 3.4 percent over the past three months and are 9.1 percent higher over the past year. The annual rate of value growth has slowed from a peak of 14.2 percent in September 2015
<a href="/images/2016/09/06/CoreLogic_Graphs/Screen%20Shot%202016-09-06%20at%201.28.37%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/06/CoreLogic_Graphs/Screen%20Shot%202016-09-06%20at%201.28.37%20PM.png" alt="">
Brisbane home values have fallen by 05 percent over the past three months and are 4.4 percent higher over the past year. Over the past five years, Brisbane home values have increased by a total of 12.2 percent.
<a href="/images/2016/09/06/CoreLogic_Graphs/Screen%20Shot%202016-09-06%20at%201.28.44%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/06/CoreLogic_Graphs/Screen%20Shot%202016-09-06%20at%201.28.44%20PM.png" alt="">
Adelaide home values have fallen by 0.8 percent over the past three months and are 3.1 percent higher over the past year. Values have increased by just 7.0 percent over the past five years.
<a href="/images/2016/09/06/CoreLogic_Graphs/Screen%20Shot%202016-09-06%20at%201.28.55%20PM.png" target="_blank">Click to enlarge</a>
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Perth home values have fallen by 1.5 percent over the past three months and are 4.2 percent lower over the past year. Values have fallen by 8.1 percent from their peak in December 2014.
<a href="/images/2016/09/06/CoreLogic_Graphs/Screen%20Shot%202016-09-06%20at%201.29.02%20PM.png" target="_blank">Click to enlarge</a>
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Hobart home values have increased by 2.0 percent over the past three months and are 6.5 percent higher over the past year. Values have increased by just 14.1 percent over the past 10 years.
<a href="/images/2016/09/06/CoreLogic_Graphs/Screen%20Shot%202016-09-06%20at%201.29.10%20PM.png" target="_blank">Click to enlarge</a>
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Darwin home values have fallen by 3.9 percent over the past three months and are 4.2 percent lower over the past year. Values are currently 9.1 percent lower than their recent peak in May 2014.
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Canberra home values have increased by 1.0 percent over the past three months and are 7.6 percent higher over the past year. Values have increased by just 12.6 percent over the past five years.
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j.ballantyne1990-6AQqhLzZaK

Sydney, Melbourne, Canberra home values on the up: CoreLogic

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GUST OBSERVER
We have compared some sales data on Airlie Beach and Cannonvale units against Mackay units. 
When looking at the Mackay unit sales (not Mackay Harbour),  the number of sales has dropped from a high 215 sales in 2013 to financial year 2016 only recording 40 sales (median price $283,000). Mackay Harbour achieved 7 sales throughout the 2016 financial year, which was down from 30 sales in the 2011 financial year (median price $465,000). Cannonvale units have bounced back a little in the number of sales with 78 recorded sales, up from 52 sales in the 2015 financial year (median price $290,000 – up from $250,000).
<a href="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%201.09.48%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%201.09.48%20PM.png" alt="">
Airlie Beach unit sales have been reasonably consistent last year with 72 sales, which is down from 84 in the previous year. 
The median price has dropped to $348,000. It is interesting to see the difference in the median prices for the units at Mackay comparing to Airlie Beach. In my mind, the units in Airlie Beach still represent great value for money when you can get an excellent ocean view starting as low as $230,000. The tourism numbers coming into the region are still going very strong and this is reflecting on the gross income on the holiday let apartments. 
Stephanie Bacon from our sales team has a severely reduced apartment at the Port of Airlie for only $635,000 which has income statements of an identical unit in the complex that is 100 percent holiday let for well over $80,000 per annum.
<a href="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%201.11.28%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/09/02/Screen%20Shot%202016-09-02%20at%201.11.28%20PM.png" alt="">
 
On a net basis this is around 4 percent which is very unusual for holiday letting properties in Airlie Beach. 
Most holiday let apartments return between 2 percent and 3 percent nett. 
Add the fact that the complex is one of the highest rated complexes in the area and it could be the best buy in your portfolio. <a href="https://campaign.raywhite.com/collect/click.aspx?u=9GxQQ+FJ4ndpBD8fNX7G8KClk3SSuzTl45qNoLo6BuasQ/3DOXSINysEh1ywyRwxrIldNM9w6T4ciReJKplyDA==&amp;rh=ff0096295de6c5cc6f21e214cf46a47315f84bb7" target="_blank"></a>
 Mark Beale is principal of Ray White Whitsunday and can be contacted <a href="https://raywhitewhitsunday.com.au" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Whitsunday price performance compared to Mackay

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May proved a relatively positive quarter for Australia’s housing market, according to Residex.
Of the house markets, the Hobart market recorded the strongest quarterly growth gains in May with the median house increasing in value by 2.59 percent.
This was followed by country NSW houses, which posted 2.39 percent growth for the quarter.
In the unit market, the median Hobart unit increased by a shocking 6.66 percent in the May quarter. Regional Queensland was a very distant second, where median units increased by 2.44 percent over the same time period.
Table 1: May 2016 Summary
<a href="/images/2016/06/28/Table_1_May16_Statistics_Summary.jpg" target="_blank">Click to enlarge</a><img src="/images/2016/06/28/Table_1_May16_Statistics_Summary.jpg" alt="">
Source: Residex
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