Investors may soon find themselves with fewer reasons to buy established property and more incentives to look towards the new apartment market.

Proposed changes to negative gearing and capital gains tax concessions would see new and off-the-plan apartments retain access to the tax benefits, while established properties would miss out, creating a clear advantage for buyers purchasing newly built housing.

The policy direction aligns with what many developers have been saying for several years. Australia needs more housing supply, and governments are increasingly looking for ways to encourage investment into new stock rather than existing homes.

The challenge for investors is that suitable product is becoming harder to find.

For much of the last decade, one-bedroom apartments were the cornerstone of investor demand. They offered a lower entry price, strong rental appeal, and were a common feature across most apartment developments.

Today, the development pipeline looks very different.

Across both New South Wales and South East Queensland, developers are increasingly targeting owner-occupiers and downsizers, delivering larger two, three and four-bedroom apartments in response to changing buyer preferences. While one-bedroom apartments still exist, they now form a much smaller portion of many new projects.

That shift has created a shortage of investor-friendly stock, particularly in well-located projects close to transport, employment hubs and lifestyle amenity.

At the same time, rising apartment prices have pushed many new developments beyond the reach of traditional investors. On the Gold Coast and across South East Queensland, it's becoming increasingly difficult to find new apartments priced around the $1 million mark, particularly those offering strong rental fundamentals and long-term growth prospects.

We've rounded up four new apartment developments where investors can still secure a foothold in the market for around $1 million or less.

<h2 data-end="1140" data-start="844">Flourish Soleira</h2>

<h2>Priced from: $1.07 million</h2>

Popular Palm Beach developer Sherpa is soon to officially launch its newest local apartment development, Flourish Soleira.

The one-bedroom apartments in the building were only offered to first home buyers rather than investors, and all of those have been snapped up. The two-bedroom apartments will start from $1.07 million, and the three-bedrooms, still a good investment given the popularity of Palm Beach for owner-occupiers, starting at $2,045,000.

&nbsp;

[smartcode_project:default project_id=150017 project_image_fid=370964]

Flourish Soliera will comprise 153 apartments across two buildings, connected by a skybridge, the first ever delivered in the suburb.

True to Sherpa's booming Flourish brand of apartment projects, Flourish Soleira will have extensive rooftop amenity across both buildings including a&nbsp;wellness centre with gym, work from home, yoga, pilates, a&nbsp;heated pool, private dining rooms, pizza oven and barbecues, basketball court, and golf simulator.

<h2>Corallo, Palm Beach</h2>

Priced from: $841,500

Nearby Flourish Soleira is Changfa Group's beachfront-inspired Corallo development. They still have some one-bedroom apartments remaining, priced from $841,500.

The 105-apartment project on Palm Beach Avenue is otherwise dominated by larger two and three-bedroom residences, many of which are aimed at owner-occupiers and downsizers.

[smartcode_project:default project_id=112194 project_image_fid=808]

For investors, the appeal lies in Palm Beach's continued transformation from a laid-back beachside suburb into one of the Gold Coast's most sought-after residential markets. Residents at Corallo will be within walking distance of Palm Beach's surf beaches, the recreational amenity of Tallebudgera Creek, and the increasingly popular collection of cafes, restaurants and boutique retailers along the suburb's central dining precinct.

<h2>Corner House, Stones Corner</h2>

<h2>Priced from: $880,000</h2>

One of only two Brisbane apartment developments to make the list with prices under $1 million is DeMartini Fletcher's Corner House development in Stones Corner.

One-bedroom apartments start from $880,000 within the 88-apartment development, providing investors with exposure to one of Brisbane's most established inner-south locations.

[smartcode_project:default project_id=149098 project_image_fid=330594]

Stones Corner has long been supported by strong tenant demand due to its proximity to major employment and education destinations. The suburb sits less than five kilometres from Brisbane's CBD and is within easy reach of the Princess Alexandra Hospital, Greenslopes Private Hospital, Queensland Children's Hospital and several university campuses.

The project's location within a walkable urban village environment, surrounded by retail, dining and public transport infrastructure, continues to attract both professionals and healthcare workers seeking accommodation close to work.

Parkdrive Apartments, Chermside

Priced from: $749,000

The most affordable apartments across Brisbane's new and off the plan market are in Chermside where developer AusDev is selling one-bedroom apartments from $749,000, and two-beds from $929,000, at its recently launched Parkdrive development.

The development is strategically positioned in one of Brisbane's largest employment and retail precincts, placing residents within easy walking distance of Westfield Chermside, The Prince Charles Hospital, St Vincent's Private Hospital Northside and the suburb's major bus interchange.

[smartcode_project:default project_id=152125 project_image_fid=363782]

Already under construction and scheduled for completion in early 2028, Parkdrive benefits from Chermside's ongoing evolution into Brisbane's northern metropolitan centre. The suburb continues to attract significant public and private investment, supporting population growth and underpinning long-term rental demand.

For investors focused on yield and tenant depth, the combination of healthcare, retail and transport infrastructure within close proximity provides a strong foundation for occupancy and rental performance.

Joel Robinson

Investors to turn to new apartments after Federal Government changes spark hunt for Queensland's best $1 million apartments

A mix of Gold Coast locals, fly-in, fly-out purchasers from Sydney and Melbourne, and Brisbane-based families has driven early sales success at Broadbeach's newest apartment tower, Lumara.

The 26-level project, a joint venture between builder-developer 5Point Projects and Bourke Projects, comprises just 37 luxury residences and is attracting a buyer profile that is looking for exclusivity, above the most amenity-rich suburb on the Gold Coast.

[smartcode_project:default project_id=150454 project_image_fid=364156]

Jamie Bourke, Director of Bourke Projects, says every buyer secured so far intends to use Lumara as a lock-up-and-leave residence, combining holiday use with the ability to work remotely when required.

“The size of the apartments, both half- and full-floor options, and the different zones within the floorplans, lends itself perfectly to dedicated home office setups and multi-generational family holidays,” Bourke says.

That flexibility has become a key drawcard for affluent buyers seeking a second residence on the Gold Coast without sacrificing the ability to conduct business away from their primary home base.

The absence of holiday letting within the building has also resonated strongly with purchasers.

“This type of buyer doesn't need to generate holiday rental income,” Bourke says. “They're paying for exclusivity, privacy and certainty around who their neighbours are.”

[smartcode_project:default project_id=150454 project_image_fid=366491]

The strong demand comes amid broader shifts in the high-end apartment market following the Federal Budget announcements in May.

“We were already seeing strong enquiry from high-net-worth buyers, but that has only accelerated since the policy changes,” Bourke says.

“A lot of those buyers are looking to place more capital into premium lifestyle assets rather than investment-grade stock that has been targeted by the Federal Government.”

[smartcode_project:default project_id=150454 project_image_fid=366486]

Designed by Cottee Parker, Lumara adopts a slender, sculpted form with an emphasis on natural materials suited to its beachfront setting. The architectural approach draws on coastal influences, with a palette of stone, timber and concrete selected for durability and the ability to weather over time.

Apartments are limited to three and four-bedroom configurations, with a maximum of two residences per floor through the mid-levels and a selection of full-floor and dual-level homes in the upper levels. All apartments are oriented to the north to maximise natural light, cross-ventilation and views across the ocean, city skyline and hinterland.

A two-level amenity offering is positioned high within the building on levels 20 and 21, conceived as a sky wellness retreat. Facilities include a magnesium pool, spa, sauna and steam rooms, alongside more social spaces such as a private dining room, resident lounge, workspaces and outdoor barbecue areas integrated with landscaped greenery.

The uppermost levels are reserved for larger-format residences, including several full-floor homes and a dual-level penthouse with its own private wellness features and recreational spaces.

&nbsp;

To give buyers confidence, 5Point and Bourke commenced construction ahead of the apartments launching to the market, a sure-fire way to prove they mean business, and the building will be delivered. They are targeting a 2028 completion date.

[smartcode_project_cta:default project_id=150454]

Locals, interstate holiday makers, drive early sales at Lumara, Broadbeach's newest luxury apartment tower

Often when it comes to purchasing property, the biggest barrier to entry is the deposit. Buyers of established homes typically aim for a 20 per cent deposit to avoid the added cost of Lenders Mortgage Insurance, while most property transactions require around a 10 per cent deposit when contracts are exchanged.

The off-the-plan market works differently, with buyers typically paying a deposit during construction and settling the balance upon completion. As completion approaches at <a href="https://www.apartments.com.au/new-apartments/fabbrica-fitzroy-369-gore-street-fitzroy-vic-3065">Fabbrica Fitzroy</a>, developer <a href="https://www.apartments.com.au/developers/pace-development-group">Pace</a> is making it easier for buyers to secure a residence through a deposit-matching incentive. Purchasers need only contribute a five per cent deposit*, with Pace matching the remaining five per cent.

The offer comes as Pace unveils a completed display apartment and townhouse, now available for inspection by appointment ahead of the project's Spring completion.

[smartcode_project:default project_id=139552 project_image_fid=371009]

Designed by <a href="https://www.apartments.com.au/architects/sjb-architects">SJB</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/winwood-mckenzie-architecture">Winwood Mckenzie</a> and landscaping by <a href="https://www.apartments.com.au/landscape-architect/acre">Acre</a>, Fabbrica draws on Fitzroy’s industrial and manufacturing history, incorporating references to the former Argyle Shirt Factory and Life Savers Confectionery Company that once occupied the site.

The development comprises 85 residences, spanning low-maintenance apartments through to larger-format townhouses with private street access and double lock-up garages, a relatively uncommon offering in Fitzroy’s higher-density apartment market.

Pace says the project has been designed to appeal to buyers seeking inner-city convenience without sacrificing space, flexibility, or amenity.

[smartcode_project:default project_id=139552 project_image_fid=371016]

Inside the residences, Winwood Mckenzie has focused on adaptable layouts and integrated detailing, with features including custom joinery, and concealed storage solutions. The material palette leans into warm, tactile finishes intended to complement the building’s industrial architectural language.

Fabbrica’s rooftop amenity is a key part of the project offering. Spanning around 800 sqm, the communal rooftop includes a private dining room, communal kitchen, lounge spaces, work-from-home zones, and outdoor dining areas overlooking the Melbourne CBD skyline.

[smartcode_project:default project_id=139552 project_image_fid=371017]

Landscape architecture studio Acre has introduced a layered rooftop garden designed to soften the urban setting while creating a more communal environment for residents.

The Fitzroy location also positions residents within walking distance of Brunswick Street, Smith Street, parks, cafés, galleries, and public transport, while remaining only minutes from Melbourne’s CBD. The project has an enviable Walk Score of 96.

[smartcode_project:default project_id=139552 project_image_fid=371025]

Pace, which is also delivering the project as builder, has developed more than 100 projects across Melbourne over the past three decades. The vertically integrated approach has become increasingly common among developers seeking greater control over construction delivery amid broader market pressures affecting the apartment sector.

The strikingly contemporary Gore Street development is now around 70 per cent complete, with purchasers expected to move into their new homes in Spring 2026. A limited number of residences remain available under the current deposit match offer.

*Conditions apply in relation to the deposit match offer.

[smartcode_project_cta:default project_id=139552]

Pace offers five per cent deposit match at Fabbrica Fitzroy ahead of Spring completion

Sydney developer Hyecorp's roots on the Lower North Shore stretch back three generations, and that deep understanding of the market continues to shape where and how it develops today.

From high-rise towers to boutique apartment projects, the family-run developer has built its reputation by focusing on a part of Sydney it knows intimately. Founded by Michael Abolakian in the early 1990s, Hyecorp is now led by his sons Stephen, Troy and Patrick.

Stephen Abolakian, joint managing director alongside Troy, has spent more than two decades in the business, overseeing development, planning, finance, marketing and sales.

Abolakian says the developer's disciplined focus on where it chooses to operate has been, and continues to be, one of Hyecorp's greatest strengths.

“We know the buyer profile exceptionally well,” Abolakian says.

“The demographics between places like Willoughby, Chatswood, St Leonards and Roseville are very similar. There are nuances between suburbs and projects, but culturally and from a buyer perspective, there’s a strong overlap.”

That buyer has historically been overwhelmingly owner-occupier driven.

Unlike many Sydney apartment developers that have traditionally relied heavily on investor demand, Hyecorp’s projects have typically attracted downsizers, upsizers, rightsizers and family owner-occupiers seeking long-term homes rather than short-term investments.

“Historically, investors have been a much smaller portion of our demand profile,” Abolakian says.

“We design for owner-occupiers. We don’t design for yield, we design for comfort, amenity, family living and long-term usability.”

That philosophy extends well beyond apartment layouts.

From landscaping and communal gardens to shared amenities and circulation spaces, Hyecorp’s developments are designed around how people actually live, something Abolakian believes has become increasingly important in Sydney’s apartment market.

“There was probably a period where having an approved project in market was enough,” he says.

“There wasn’t as much competition and if you built it, buyers would come. That’s no longer the case.”

“There’s more supply in the pipeline now, particularly with TOD precincts and low and mid-rise reforms opening up opportunities across Sydney. Buyers have more choice, so if you get the product wrong, they’ll simply go elsewhere.”

[smartcode_project:default project_id=110379 project_image_fid=311393]

The shift has forced developers to become more sophisticated in how they approach apartment design, particularly as owner-occupier expectations continue to rise.

For Hyecorp, that means thinking beyond who the buyer is today and designing for who they may become in five or 10 years' time.

“People buying now often aren’t moving in for several years,” Abolakian says.

“You might have a young couple buying today, but by the time they move in they may have children, older children, or changing lifestyle needs. You’ve got to think about how families evolve.”

That thinking also shapes Hyecorp’s approach to amenity, which positions wellness at the forefront.

[smartcode_project:default project_id=149594 project_image_fid=362634]

While resort-style facilities have become increasingly common marketing tools across Sydney apartment developments, Abolakian says the challenge is ensuring amenities are genuinely usable and appropriate for the scale of the project.

“If amenities are done right, they can materially improve the living experience,” he says, adding however that if you&nbsp;overdo it or get it wrong, you can end up with facilities nobody uses that simply create ongoing strata costs.”

That balance is something Hyecorp is aiming to strike with projects like Roseville Avenue, one of the group's upcoming Lower North Shore developments, which Abolakian describes as bringing a resort-style living experience into a metropolitan setting.

“It’s about creating something that feels special without being excessive,” he says.

“Good gardens, quality apartments, thoughtful amenity. Creating that resort feeling in a metro location.”

<img alt="Hyecorp" data-entity-type="file" data-entity-uuid="13c4c0f3-b1b7-44cf-9344-0b3d1d07797a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-02%20at%2012.14.57%E2%80%AFPM.png?VersionId=9OLWjyj2bYkDV35F78WJnyMSPfc2bJ2z" />

The focus on owner-occupier product comes as Sydney’s apartment market continues to navigate a difficult development environment.&nbsp;For Hyecorp, maintaining an in-house operating model across construction, sales, marketing and development management has become increasingly important in navigating that environment.

“We’ve always believed in keeping a lot of the process in-house,” Abolakian says.

“It creates efficiencies, but it also creates quality control. You can make faster decisions and ensure the end product stays aligned with the original vision.”

Despite the challenges, Abolakian believes demand for quality owner-occupier apartments across Sydney remains strong beneath the surface, particularly across established Lower North Shore suburbs where downsizers continue to seek new housing options close to existing communities.

“There are definitely people waiting,” he says.

“Once some of the broader uncertainty settles, whether that’s the global environment or some of the local economic noise, I think the right projects will perform very strongly.”

Hyecorp currently has three residential developments on the market across Sydney’s Lower North Shore.&nbsp;Audrey, St Leonards, positioned opposite Newlands Park, is nearing completion and preparing to welcome its first residents, with the project now almost sold out.

Hyecorp has also recently launched&nbsp;<a href="https://www.apartments.com.au/new-apartments/celine-chatswood-37-archer-street-chatswood-nsw-2067">Celine Chatswood</a>, an architectural tower, while continuing to deliver&nbsp;<a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet Roseville</a>, a more boutique scale of development with just 34 apartments.

Why Hyecorp continues to back Sydney's Lower North Shore apartment market

South East Queensland’s apartment market is entering a new phase defined by rising prices, constrained affordability, and mounting pressure on the construction pipeline, according to RPM Group’s latest SEQ Apartments &amp; Townhomes Market Report.

The May 2026 report highlights a widening divide between what buyers can afford and what developers can viably deliver, with detached house prices continuing to push more buyers toward apartments across Brisbane, the Gold Coast, and the Sunshine Coast.

RPM says Brisbane’s median house price has reached around $1.5 million, accelerating the shift toward higher-density housing as buyers are increasingly priced out of the detached market.

[smartcode_project:default project_id=135094 project_image_fid=356540]

Median unit prices rose across all three major SEQ markets in the March quarter. Brisbane City recorded the strongest annual growth, with median unit prices climbing 21 per cent to $862,000, while the Gold Coast reached the highest overall median at $950,000, up 17 per cent year-on-year. The Sunshine Coast followed at $870,000, representing annual growth of nine per cent.

RPM noted the affordability gap between houses and units remains significant, with detached homes commanding premiums of 67 per cent in Brisbane and 68 per cent on the Gold Coast relative to apartments.

The report suggests this price disparity is increasingly consolidating buyer demand within the apartment market, particularly among downsizers and owner-occupiers.

“Demand is real. Supply is moving. But they’re operating on different timelines and the gap between what’s being built and what buyers can afford is the defining tension in this market right now,” RPM Queensland and NSW Managing Directors Peter Neale and Clinton Trezise said in the report.

[smartcode_project:default project_id=150787 project_image_fid=366230]

While approvals and commencements are strengthening, RPM argues the delivery pipeline remains constrained by construction costs, labour shortages, and extended build timelines.

Apartment approvals across Queensland increased 86 per cent over the year to February 2026, reaching 12,682 approvals, the highest level recorded since 2016. Brisbane overtook the Gold Coast as the state’s most active apartment approval market, with nearly 5,000 apartments approved over the past 12 months.

Unit commencements also strengthened considerably, rising 48 per cent year-on-year to 5,453 commencements in the December 2025 quarter, the highest level since 2018.

However, RPM’s research found apartment delivery timeframes have expanded sharply compared to the previous cycle. Projects are now averaging around 30 months from approval to completion, compared to roughly 20 months a decade ago.

[smartcode_project:default project_id=143932 project_image_fid=367515]

The number of units under construction has climbed to approximately 31,530 dwellings, nearing the previous 2016 peak, though projects are remaining in the pipeline for considerably longer.

Construction costs continue to weigh heavily on feasibility. RPM found the average apartment construction cost in Greater Brisbane reached $630,000 per dwelling in 2025, exceeding both Sydney and Melbourne. Coastal Queensland markets, including the Gold Coast and Sunshine Coast, were even higher at an average of $817,418 per apartment due to the prevalence of larger premium product.

The report also points to increasing pressure from Olympic-related infrastructure spending ahead of Brisbane 2032, with labour competition expected to intensify over the next several years.

[smartcode_project:default project_id=150017 project_image_fid=370960]

ANZ Associate Director of Property Daniel Gradwell said the underlying demand drivers across South East Queensland remain strong, supported by interstate migration, downsizers, and population growth.

“The challenge is bringing enough supply to market to meet that demand, and nothing on the horizon makes that straightforward,” Gradwell said.

RPM’s analysis found the affordability challenge is becoming more pronounced in the new apartment market itself, with only three per cent of surveyed new apartments priced below $1 million.

Instead, the market is increasingly concentrated in higher price brackets, with the most common new apartment price band across SEQ sitting between $1.5 million and $1.75 million. Around half of all new apartment stock surveyed is priced below $2 million.

The report suggests developers are not necessarily avoiding lower price points by choice, but because current construction economics make delivering affordable apartments increasingly difficult at scale.

Rental conditions also remain tight across the region. Median rents for one-bedroom apartments rose 12 per cent in Brisbane over the past year to $580 per week, while Gold Coast one-bedroom rents increased nine per cent to $630.

Despite rising rents, RPM noted bond lodgements have generally trended downward over the past five years, indicating more apartments are being absorbed by owner-occupiers rather than retained as investor-held rental stock.

Looking ahead, RPM expects projects targeting the mid-market owner-occupier segment between $1.25 million and $2 million to remain the most viable part of the market, while premium projects in highly constrained coastal or riverfront locations continue to attract demand.

“Construction costs are rewriting the feasibility rulebook across Greater Brisbane, and with little relief in sight, only projects in the right price band, right location, and with presales secured early will make it through,” the report concludes.

SEQ apartment demand outpacing affordable supply as construction timelines stretch: RPM

Residential Prices

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Over the past twelve months we have seen Perth home values drift 3.7 percent lower while values across the combined regional markets of the state are down a larger 8.3 percent. 
Home values across both the metropolitan and regional areas of Western Australia reached a peak in late 2014. Since that time home values have fallen, although the declines have been more pronounced in key regional areas of the state associated with the mining sector.
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Not all regional markets are seeing falling home values; the South West region of the state, which includes towns such as Margaret River, Bunbury and Busselton, has seen values rise by 3.7 percent over the past twelve monthswhile values across the Midlands are 6.0 percent higher over the year. 
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The Perth housing market hasn’t been immune to the weaker state economy and wind down in the mining boom. Home values across Perth have fallen over the past year and rents are falling at a faster pace than values which is pushing rental yields lower as well.
 
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Perth house and unit values to decrease by 3 percent: NAB

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Outer Adelaide suburbs Mount Barker and Nuriootpa had an increase in median house prices of 2.4 percent to $352,000 late last 2015, according to the February Residential Market Report from JLL.
The report said houses in the southeast have shown growth of 2.8 percent over the past year, to a median price of $381,000. 
"This mainly reflects prices in Mt Gambier, the main regional town," it said.
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"The Northern Region contains the Iron Triangle where prices were up 0.7 percent. 
"The Eyre region, with Port Lincoln as its main town, experienced the largest increase in house prices, up 4.4 percent in the past year to $264,000." 
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Median house prices up in Adelaide's Mount Barker, Nuriootpa

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Families from southern capitals are looking to the north for a better lifestyle at an affordable price, as median prices in Sydney are up to 75% higher than in Brisbane, says Place CEO Damian Hackett.
The median house price in Sydney and Brisbane during October 2015 was at the highest level in 13 years, he noted CoreLogic RP Data shows. 
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“The last time we saw these kinds of figures was back in 2002, when the median dwelling prices in Sydney were 97 percent higher than those in Brisbane – slightly above the current figure - which reflects a 75 percent difference," he said.
“If we look back, an increasing median price gap between Brisbane and our southern counterparts is key in shifting momentum."
Sydney and Melbourne buyers are rejecting the southern pricing instability in favour of Brisbane. Investors observe Brisbane’s high yields, while young families seek affordability and a quality lifestyle, he said.
“Brisbane is consistent in terms of sales activity and stability, with low interest rates this year encouraging investment across the board, in addition to upgrades in the upper end of the market.
“Queensland owner-occupiers are quickly snapping up family homes on large blocks in Brisbane’s blue chip suburbs, where they pay a fraction of what they would in Sydney”.
Queensland represents value for money, an attractive option for southern buyers as Sydney and Melbourne continue to experience unsustainable growth, says Hackett.
"What we’re now seeing is Sydney and Melbourne prices are reaching their peak; people are looking for stable and solid growth and that’s what we have in Brisbane. Families are recognising the very high quality of living they can afford in Queensland.”
According to Place, the increasing transport infrastructure across Brisbane will only add to its appeal.
“The first direct flights from Gold Coast to China have commenced, and the G20 showcased Brisbane as a highly attractive city, while the Gold Coast is seeing a boom in i
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High median price gap between Brisbane and Sydney sees buyers eyeing north: Place CEO Damian Hackett

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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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Sydney and Melbourne property is the nation's best performing in the current residential cycle, according to QBE’s Australian Housing Outlook 2015-2018, who note the result is driven by investor purchasers, some 50% of the national market.
QBE LMI Chief Executive Officer Phil White said the report forecasts that Brisbane’s continuing affordability will see it attain the highest growth rate of all capital cities over the three-year period.
"And this will result in a median house price of $575,000 in 2018, which will be 12% above the median house price of $511,300 in June this year,” he said.
<a href="/images/2015/10/29/Screen%20Shot%202015-10-29%20at%2011.08.54%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/29/Screen%20Shot%202015-10-29%20at%2011.08.54%20AM.png" alt="">The report, produced with BIS Shrapnel, said the Perth market will weaken across both houses and units due to a rising stock surplus and the slowing state economy, with an expected 10% decline in the median house price in 2018 compared to the June 2015 level. 
It noted demand in some markets over the year will ease, with the exception of Sydney, Melbourne and Brisbane.
<a href="/images/2015/10/29/Screen%20Shot%202015-10-29%20at%2011.09.02%20AM.png" target="_blank"> Click to enlarge</a>
<img src="/images/2015/10/29/Screen%20Shot%202015-10-29%20at%2011.09.02%20AM.png" alt="">
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House prices forecast to outperform units until 2018: QBE

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The top sale of the week was a four bedroom home in the Sydney beachside suburb of Bronte that sold for the first time in 34 years.
CoreLogic RP Data's top ten sales listing for the week ending 27 September noted the home, <a href="https://www.realestateview.com.au/Real-Estate/9-mirimar-avenue-tamarama/Property-Details-sold-residential-9317606" target="_blank">9 Mirimar Avenue, Bronte</a> is on a 474sqm block with 180 degree views and sold for $7,780,000.
Top ten sales
9 Mirimar Avenue, Bronte, NSW, 4 bed, 2 bath, 2 car house $7,780,000 through Laing + Simmons Double Bay 
48a Hampden Road, Armadale, Vic 4 bed, 2 bath, 2 car house $5,300,000 through Jellis Craig Armadale 
41D New South Head Road, Vaucluse, NSW5 bed, 5 bath, 2 car house $5,250,000 through Laing + Simmons Double Bay 
417/6 Cowper Wharf Road, Woolloomooloo, NSW 3 bed, 3 bath, 2 car unit $4,500,001 through BresicWhitney Darlinghurst 
23 Burran Avenue, Mosman, NSW 3bed,2bath,2 car house $4,390,000 through McGrath Estate Agents 
1101/39 Castlebar Street, Kangaroo Point, Qld 4 bed, 4 bath, 6 car unit $4,315,000 through McGrath Estate Agents 
240 Morack Road, Vermont South, Vic 5 bed, 3 bath, 2 car house $4,150,000 through Ray White Blackburn 
71 Barnstaple Road, Russell Lea, NSW 5 bed, 4 bath, 4 car house $3,910,000 through McGrath Estate Agents 
41 Salisbury Road, Rose Bay, NSW 4 bed, 3 bath, 2 car house $3,900,000 through Raine &amp; Horne Double Bay 
96 Livingstone Avenue, Pymble, NSW 5 bed, 5 bath, 2 car house $3,800,000 through LJ Hooker Wahroonga 
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