Growing national developer Time &amp; Place has announced its fifth new apartment development.

With two projects in Manly and two upcoming in Surry Hills and Potts Point, the developer, which expanded beyond Melbourne just a few years ago, is now heading to Mosman. It is planning 53 new apartments on Redan Street.

The 3,233 sqm site, spanning <a href="https://www.apartments.com.au/new-apartments/40-48-redan-street-mosman-nsw-2088">40–48 Redan Street</a> with frontage to Redan Lane, is located just under 400 metres from Spit Junction Town Centre. It is reported the developer paid around $100 million for the five-site amalgamation.

Time &amp; Place, founded by Tim Price and backed by James Packer’s private investment firm NPACT, has submitted the project as a State Significant Development through the NSW Government’s Housing Delivery Authority pathway.

Of the 53 apartments, 42 will be released to the market, with the remaining 11 allocated as affordable housing in line with NSW Government requirements.

fjc Studio has designed the building. In its Design Report, the architect said the diverse mix of dwelling types and sizes, including 11 two-bedroom affordable housing units, 40 three-bedroom apartments, and two four-bedroom residences, will support a broad demographic, including families, downsizers, and key workers.

The development will rise to nine levels, a height encouraged by the NSW Government due to the site’s proximity to Spit Junction, which has been identified as a low- to mid-rise centre. Developments within a certain proximity to these centres are permitted increased height.

fjc said the project “achieves an appropriate density outcome for its setting by balancing increased housing supply with strong amenity performance,” adding that it “makes a measurable contribution to NSW housing supply targets through the delivery of additional dwellings and dedicated affordable housing.”

The new development will replace five existing two-storey homes.

“By aligning with the objectives of the Housing SEPP and applying careful architectural and urban design principles, the development provides high-quality residential accommodation that integrates sensitively within its established Mosman context and delivers enduring benefits to residents and the wider community.”

Mosman has become increasingly popular with developers in recent years.

Developer Abadeen has been particularly active, with Mosman Residences currently on the market and under construction on Clifford Street. It also has an upcoming Burran Avenue project, comprising just three apartments on the Balmoral Slopes, and recently secured the Midas and Honeysuckle nursery site on Military Road.

Prosker Property has a project on Redan Lane, just a few doors down from Time &amp; Place’s proposed development.

Developers including Toohey Miller, DARE Property Group, and WINIM also have projects underway in the area. In 2024, a five-year target was set for the Mosman LGA to increase housing supply by 500 dwellings by 2029.

Time &amp; Place entered the Sydney market with Two Tides, its under construction Manly development. Given its sales success, it has secured another development in the area, more boutique, facing the beach on North Steyne.

They are hoping to launch their redevelopment of The Chimes in Potts Point this year, and next year will look to take to market Marlborough House, an adaptive re-use of the landmark David Jones warehouse in Surry Hills.

Joel Robinson

Time & Place to take on Mosman apartment market

Brunswick’s civic heart continues to consolidate around the Merri-bek Arts and Culture Precinct, where a growing cluster of cultural institutions, recreation facilities, and public infrastructure has created one of the inner north’s most defined community hubs.&nbsp;

Within this evolving precinct, <a href="https://www.apartments.com.au/new-apartments/saxon-street-by-milieu-brunswick-31-saxon-street-brunswick-vic-3056">Saxon Street by Milieu</a> introduces new housing directly alongside the civic anchors that shape daily life in the suburb.

At 31 Saxon Street, the project sits immediately beside Brunswick Baths and within moments of Brunswick Library and Town Hall, longstanding institutions that support both community services and everyday amenity.&nbsp;

[smartcode_project:default project_id=136434 project_image_fid=348840]

Next door, the newly delivered Balam Balam Place arts precinct has emerged as a central piece of Merri-bek Council’s cultural strategy, bringing together creative studios, exhibition spaces, maternal and child health services, and community programming in a purpose-built civic facility. Together, these destinations have reinforced the surrounding blocks as a focal point for public life in Brunswick.

This part of <a href="https://www.apartments.com.au/developments/brunswick-vic-3056">Brunswick</a> forms a key pocket within the suburb’s designated Major Activity Centre, where long-term planning has prioritised walkability, civic investment, and increased housing supply close to transport and services. The surrounding street network reflects that strategy, with compact blocks, established retail corridors and active transport links supporting a lifestyle that is largely navigable on foot.

Within a few minutes’ walk, Sydney Road delivers one of Melbourne’s most recognisable streets, known for its long-running mix of independent retailers, international dining venues and everyday convenience. Tram routes along Sydney Road provide frequent connections south toward the CBD and north through Brunswick and Coburg, while Jewell Station on the Upfield line sits within roughly a ten-minute walk, offering direct train access into the city.

[smartcode_project:default project_id=136434 project_image_fid=348839]

Active transport also plays a significant role locally. The nearby Upfield Bike Path forms a key north–south cycling corridor linking Brunswick through Parkville and into the central city, reinforcing the area’s reputation as one of Melbourne’s most accessible inner-urban neighbourhoods for cyclists and pedestrians alike.

The surrounding civic cluster extends beyond cultural infrastructure. Siteworks, a nearby creative hub supporting artists and community organisations, adds to the concentration of cultural activity in the immediate area. Educational institutions such as Brunswick North Primary School, Brunswick Secondary College and RMIT’s Brunswick campus are also within easy reach, contributing to the suburb’s diverse resident base spanning families, students and professionals.&nbsp;

[smartcode_project:default project_id=136434 project_image_fid=348841]

Designed by <a href="https://www.apartments.com.au/architects/jackson-clements-burrows-architects">Jackson Clements Burrows Architects</a> in collaboration with <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> and landscape architects <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, the nine-level building has been shaped to respond to the surrounding streetscape, with lower levels aligning to the street and upper storeys stepping back to soften its scale and improve solar access.&nbsp;

Curved balcony forms reference nearby heritage architecture, while the development’s public realm improvements include a widened footpath along Saxon Street to strengthen pedestrian connections between the precinct’s civic sites.

Sustainability also underpins the project’s approach. The building is designed to operate entirely on electric infrastructure supported by rooftop solar, with an average 7.5-star NatHERS energy rating and EV-charging readiness across the development. Shared resident amenities will include a landscaped rooftop terrace with barbecue and covered dining areas intended to encourage informal interaction between residents.

Saxon Street marks developer Milieu's fifth project in Brunswick and continues its focus on design-led infill housing across Melbourne’s inner suburbs.&nbsp;

Construction has commenced through reputable builder Manresa, who will complete the project in 2027.

[smartcode_project_cta:default project_id=136434]

Saxon Street by Milieu connects residents to Brunswick’s cultural and civic core

Within <a href="https://www.apartments.com.au/new-apartments/candela-ivanhoe-40-upper-heidelberg-road-ivanhoe-vic-3079">Candela Ivanhoe</a>, <a href="https://www.apartments.com.au/developers/salter-brothers">Salter Brothers</a>&nbsp;takes a different approach to larger residences, moving away from the constraints of a single level.

In Grand Residence 3.05, known as the Lustre, plays out across two levels, with a mezzanine configuration that is uncommon in apartment living.

Lustre is a four-bathroom residence where the layout creates a clear distinction between shared and private zones, with uninterrupted views toward the Dandenong Ranges extending the sense of openness from the main living areas.

Entry is to the primary living level, where the kitchen, dining, and living areas are arranged as one continuous space. Timber flooring runs throughout, with a fireplace set within the living zone. Full-height glazing brings in natural light, supported by double glazing that improves thermal performance.

[smartcode_project:default project_id=342 project_image_fid=357506]

The kitchen is configured as both a working and social space. A large island bench provides seating, while a walk-in pantry extends storage beyond typical apartment expectations.

Gaggenau appliances, including a 900mm gas cooktop and 600mm oven, are integrated into a layout that connects directly to the adjacent dining and living areas, and outward to the terrace. This balcony includes a built-in BBQ, reinforcing the apartment’s capacity to accommodate larger gatherings without compromising internal space.

A dedicated laundry room, powder room, and a wine cellar area sit discreetly off the main living zone, ensuring that functional requirements are resolved without encroaching on primary living areas. The master suite is also located on this level, designed as a retreat with a walk-through wardrobe and an ensuite that includes double vanities, a bath, and a dedicated dressing table.

[smartcode_project:default project_id=342 project_image_fid=357508]

The mezzanine level introduces a second layer of living, rather than simply additional bedrooms. Two large bedrooms with built-in robes are positioned alongside a central bathroom, while a secondary lounge and study area create a self-contained zone suited to children, guests, or extended family. A large storage room further supports long-term usability, addressing a common shortfall in apartment design.

This separation of levels is central to how the residence functions day-to-day. It allows the lower level to operate as the primary entertaining and living space, while the upper level provides privacy and flexibility. The result is closer in feel to a townhouse or standalone home, but with the benefits of apartment living, security, and low maintenance.

[smartcode_project:default project_id=342 project_image_fid=364553]

Candela is close to 80 per cent complete, with Ironside delivering construction ahead of its expected October 2026 completion. The development comprises 58 residences, with a strong owner-occupier profile and a mix of one to four-bedroom apartments and loft-style townhouses.

Candela has exclusive access to private amenities, including a residential lounge and rooftop terrace. A charming café and a lifestyle wellness centre are located on the ground level, designed to foster community connection and extend the living experience beyond individual apartments without competing with the scale of homes like Lustre.

Candela, positioned in the heart of Ivanhoe Village, reinforces the practicality of the address. With a Walk Score of 90, residents are within immediate reach of cafés, retail, parklands, and Ivanhoe Station, while also benefiting from proximity to established schools and healthcare services.

[smartcode_project_cta:default project_id=342]

Inside Lustre: Grand Residence 3.05 at Candela Ivanhoe

<a href="https://www.apartments.com.au/developers/milieu-property">Milieu</a>’s <a href="https://www.apartments.com.au/new-apartments/elsternwick-gardens-by-milieu-8-gordon-street-elsternwick-vic-3185">Elsternwick Gardens</a> is being shaped around a simple but increasingly rare premise in apartment development: that the built environment should actively support residents’ wellbeing.&nbsp;

Located on the former ABC Studios site on Gordon Street in Melbourne’s south-east, the new neighbourhood sits on an expansive 11,740 sqm site neighbouring the heritage-listed Rippon Lea Estate, whose gardens date back more than 140 years.

Rather than positioning wellness as an add-on amenity, the development integrates it into the physical planning of the site. Architecture by <a href="https://www.apartments.com.au/architects/woods-bagot">Woods Bagot</a> is arranged across six low-rise buildings set within extensive landscaping designed by <a href="https://www.apartments.com.au/landscape-architect/oculus">OCULUS</a>, with more than 40 per cent of the land dedicated to gardens and green space. Walking trails, pocket gardens, and mature trees are threaded between buildings, creating a network of green corridors that encourage residents to move through the precinct on foot and spend more time outdoors.

[smartcode_project:default project_id=136535 project_image_fid=288420]

Milieu has intentionally framed these gardens as an extension of the neighbouring Rippon Lea Estate. More than 16,000 new plants will be introduced across the site, with species carefully selected to protect and complement the area’s ecological significance. The approach focuses on strengthening existing environmental conditions while establishing new habitats that support native wildlife, reinforcing the role of the landscape as both an active ecosystem and a defining element of daily life.

A private resident gate will provide direct access to the historic grounds during opening hours, allowing residents to move seamlessly between the development’s landscaped gardens and the estate’s expansive lawns, lakes, and mature trees. The project’s gardens will also be maintained by the same gardeners responsible for Rippon Lea, reinforcing the visual and ecological continuity between the two landscapes.

Complementing the landscape is a dedicated wellness hub designed to support everyday health and recovery. Residents will have access to a gym alongside yoga and Pilates studios, while mineral pools and infrared saunas provide spaces for relaxation and restorative wellbeing. Shared lounges, workshop spaces, and pet care facilities expand the concept of wellness beyond fitness, creating opportunities for social connection and community interaction within the precinct.

Environmental performance is another key component of the project’s wellbeing focus. Elsternwick Gardens will be entirely fossil-fuel-free, with homes designed to operate on renewable electricity rather than gas. Passive design strategies, including cross-flow ventilation, high-performance insulation, and thermally broken double glazing, are intended to maintain comfortable indoor temperatures while reducing energy demand. Solar photovoltaic systems will power common building services, while rainwater harvesting will help irrigate the extensive landscaping across the site.

[smartcode_project:default project_id=136535 project_image_fid=361030]

Milieu Founder and Managing Director Michael McCormack says the scale and setting of the project allowed the team to take a different approach to urban apartment living.

“This site represents a once-in-a-lifetime opportunity to build something truly special,” McCormack says.

“Through that process, we arrived at a design that centres on a fully realised natural landscape – a series of private, interconnected gardens that encircle the homes and extend seamlessly from Rippon Lea Estate.”

Elsternwick Gardens will comprise three residential offerings, Gordon Place, Ripponlea Terrace, and The Garden Pavilion, each designed for owner-occupiers and shaped around high-quality interior design by Woods Bagot, K.P.D.O., and Flack Studio. The first stage, Gordon Place, includes one-, two-, and three-bedroom apartments designed with a strong focus on indoor-outdoor living and sustainability.

[smartcode_project:default project_id=136535 project_image_fid=288412]

Milieu recently appointed <a href="https://www.apartments.com.au/builders/brady-constructions">Brady Constructions</a> to deliver the project, marking a key milestone for the development. The appointment follows the demolition of the former studio buildings on the Gordon Street site, with construction progressing toward the delivery of the nature-led community.

Situated between the established villages of Elsternwick and Ripponlea, the development balances its garden setting with strong urban connectivity. Residents will be within walking distance of cafés, restaurants, and local retail, while nearby train and tram connections provide quick access to Melbourne’s CBD and the beaches of Elwood and St Kilda.

With construction underway and the first residents expected to move in by early 2027, Elsternwick Gardens represents a growing shift in apartment development toward environments that prioritise wellbeing as much as density or location. By placing landscape, sustainability, and shared spaces at the centre of the design, Milieu is positioning the project as a residential neighbourhood where wellness is not just promoted, but built into the structure of everyday life.

[smartcode_project_cta:default project_id=136535]

Elsternwick Gardens' wellness-first design strategy

Brisbane-based developer <a href="https://www.apartments.com.au/developers/red-co">Red &amp; Co</a> has made a striking debut on the Gold Coast, officially unveiling its $250 million COMO development in Varsity Lakes, a lifestyle-driven residential project anchored by an extensive rooftop wellness and activity precinct.

Having recently launched to market, construction has already been fast-tracked by <a href="https://www.apartments.com.au/builders/5point-projects">5Point Projects</a>, ensuring momentum continues on what is set to become a landmark residential address for the growing Varsity Lakes community.

Located at 22 Lake Street, Varsity Lakes, <a href="https://www.apartments.com.au/new-apartments/como-varsity-lakes-22-lake-street-varsity-lakes-qld-4227">COMO</a> will comprise 156 apartments across 16 levels, comprising one-, two- and three-bedroom residences designed for modern living. However, it is the project’s rooftop amenity offering that sets COMO apart.

[smartcode_project:default project_id=135546 project_image_fid=363510]

Designed as a dedicated wellness and recreation hub, the rooftop will feature a 25-metre lap pool, fully equipped gymnasium, and multiple pickleball and paddleball courts - amenities rarely seen in boutique apartment projects.

Residents will also have access to a sauna and plunge baths, while landscaped gardens and relaxation zones will provide tranquil spaces overlooking sweeping panoramic views across the Gold Coast skyline.

The rooftop precinct has been designed to function as the social and wellness heart of the development, encouraging residents to embrace an active, balanced lifestyle within their own building.

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363512]

Red &amp; Co director David Laverty said the amenity offering was central to the project’s design from the outset.

“Amenities were at the forefront of our decisions,” Laverty said.

“Buyers today are looking for more than just an apartment - they want a lifestyle that promotes health, connection and balance.

“The rooftop at COMO has been designed to be the epicentre of that lifestyle, with a suite of wellness and recreation facilities that are quite unique for a boutique development of this scale.”

&nbsp;

[smartcode_project:default project_id=135546 project_image_fid=363514]

Designed by <a href="https://www.apartments.com.au/architects/bda-architecture">BDA Architecture</a>, the residences prioritise liveability, featuring spacious layouts, 2.7-metre ceilings and high-quality finishes throughout.

The development sits beside Bond University, placing residents within walking distance of education, retail and dining options within the vibrant Varsity Lakes precinct, including Robina Town Centre, Varsity Lakes Train Station and a range of leading schools.

[smartcode_project:default project_id=135546 project_image_fid=363511]

Laverty said the location was a key driver behind Red &amp; Co’s decision to bring the project to the Gold Coast.

“<a href="https://www.apartments.com.au/developments/varsity-lakes-qld-4227">Varsity Lakes</a> was a clear choice for us to invest in as it’s a lifestyle hub that seamlessly blends lakeside living with urbanity,” he said.&nbsp;

“Como will capitalize on this great location, delivering a project that not only creates premium homes, but a lifestyle defined by community, wellbeing, and connectivity.”

Red &amp; Co has delivered more than 500 apartments and townhouses across 26 projects in Brisbane in recent years, with COMO marking the company’s first major Gold Coast development.

[smartcode_project_cta:default project_id=135546]

Red & Co unveils amenity-rich Como development in Varsity Lakes

Residential Property

<html><body>
The prime residential forecasts for the 30 cities in Savills World Cities Prime Residential Index highlight the strength of prime residential property.

Average growth for the cities in the index is forecast at 1.6% for 2021. Sentiment is improving as the rollout of the Covid-19 vaccine begins in many countries and, despite the uncertainties which still linger, prime residential property is expected to remain an active market.

The resilience of prime residential markets was highlighted during the second half of 2020. Savills World Cities Prime Residential Index recorded an average increase of 0.8% for the cities in the index at a time when global GDP is recovering from the impact of Covid-19 and subsequent lockdowns.

Many of the factors which helped drive the prime residential market in the second half of 2020 are expected to continue into 2021, including low stock levels in some locations and the desire for more space.

Historically low interest rates, which are expected to remain low for some time, also make the sector attractive for wealth preservation. These factors, and the sector’s strong fundamentals, mean positive price growth is expected in 19 cities, compared with nine that are expected to see small price falls.

<img alt="" height="636" src="https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/savills_world_performance_2021.jpg" width="1200">

Source: Savills Research

<h2>The high fliers: +6%</h2>

Of the cities in the Savills World Cities Prime Residential Index, Seoul saw the strongest growth during 2020 with prices increasing 8.6%. This strong performance is expected to continue over the coming year. The market remains on an upward trend, driven by high demand from historically low interest rates, strong economic performance and short supply.

Berlin and Sydney are the next strongest performers. The German capital has been on an upward trend with high levels of demand that exceed supply. Sydney has seen comparatively weaker performance in recent years but is expected to improve in 2021 as economic activity picks up.

<h2>The strong contenders: +4-6%</h2>

Guangzhou is expected to see the highest growth out of the Chinese cities in the index over the coming year. The city is benefitting from urban regeneration projects as well as its proximity to comparatively higher-valued Shenzhen.

In the USA, as with many Western markets, the search for more space was a pandemic-driven trend during 2020. This is expected to continue over the coming year, benefiting cities that offer space, such as Miami.

Miami also has particularly attractive tax advantages. Should the rise in remote working continue, those who no longer need to stay in one location for work may find Miami appealing.

Mumbai has seen stamp duty changes over the past year. The forecast growth in Mumbai, driven by the stamp duty reduction and low mortgage rates, follows price falls due to an oversupply.

<h2>The steady cities: &gt;0-4%</h2>

Despite the headwinds of 2020, supply remains a significant influencer of price movements. Many cities that expected to see positive growth of up to 4% in 2021 are markets characterised by low supply levels, e.g. San Francisco, Amsterdam and Tokyo.

London’s prime market is expected to see a turnaround, with forecast growth underpinned by the value on offer compared with its peak in 2014.

The Chinese cities of Shanghai, Shenzhen, Hangzhou and Beijing are expected to see growth of between 0% and 4%. These markets have performed well in 2020 as economic activity returned. Residential is seen as a safe investment, which is expected to continue in 2021. Beijing has a slightly weaker forecast than the other cities in China due to heavy local regulation.

<h2>A softening of prices: -2-0%</h2>

Some prime residential markets are more reliant on international demand than others. For these markets, travel restrictions have hindered performance during the past year. While vaccine news does bolster optimism for the return of travel, a number of markets that are driven by international demand, including Dubai, Kuala Lumpur and Lisbon, are expected to see a slight softening of prices over the coming year. Lower international demand is also expected to impact the prime market in Paris.

A weaker economic environment is expected to impede growth in a number of cities in Southern Europe, including Milan, Rome, Barcelona and Madrid, while oversupply also continues to play a role for a few cities in this price growth tier, namely Bangkok and Dubai.

<h2>Down, but not out: &lt;-2%</h2>

In Hong Kong, the highest valued city in our index, prices have been impacted by political uncertainty. Prime values are expected to continue their downward trend over the coming year.

New York’s prime market has been on a downward trend in recent years due to oversupply. The pandemic has also caused a temporary move away from densely populated urban living – whether this becomes a long-term trend, however, still remains to be seen.

Sean Hyett is an analyst for Savills World Research
</body></html>

Sydney forecast to sit among the 2021 residential high fliers: Savills

<html><body>
EXPERT INSIGHT

This year has been a rollercoaster for residential values, from January onward the market began to rally off the back of some political and financial certainty in Q3/Q4 2019.

This ended abruptly at the beginning of lockdowns as we saw prices decline seemingly 10-15% overnight.

Once restrictions were lifted, buyer sentiment and demand returned to near pre-lockdown levels while the number of properties on the market remained considerably less than comparable months in previous years.

Low stock levels meant that there was a shift in the supply/demand dynamic which is now weighted toward larger dwellings as buyers' value usable space more than ever.

With stronger demand per property some local markets saw houses sell for record highs towards the end of 2020, surpassing previous peaks set in 2017. The apartment market has not been as lucky due to other external factors that appear to have stagnated prices however for the most part, this segment of the market has remained stable since restrictions were eased.  

Over the year we also saw a sharp decline in rents which has meant less investors were actively looking at residential property due to lower yields. What we are now seeing is a steady return of investors to the market due to the poor performance of cash so while yields may have declined, the net position of many investors remains relative due to lower borrowing costs.  

Next year the following changes are proposed to take place which will have significant impact on the local residential property market:

Changes to the National Consumer Credit Protection Act - 1 March 2021 
While it won't quite be like the old days when you would walk into a bank and walk out with a loan approval, one of the legislative frameworks that banks work within and are held to account will be eased. This is proposed to shift the balance of responsible lending from lender back to consumer which will have interesting effects, one of which we will likely see is an increase in borrowing in affordable markets where access to credit has previously not been possible or too expensive. Is a bubble coming, maybe, all we know for sure is that there will be more money in the market which will likely lead to price growth. 

COVID-19 Vaccine - First half 2021 
Many industries and local businesses seem to be almost back to normal (apart from distancing measures) so while we are able to live and operate locally without a vaccine, the news is welcomed and will give certainty to businesses and consumers who will be able to forward plan and travel internationally. To give you an understanding of one of the biggest impacts a vaccine will have, International tourism in Australia is a ~50 Billion dollar industry that is currently non-operational. 

Changes to stamp duty in NSW - Second half 2021 
The formula of how the new duty will be accrued is yet to be determined and this will impact the feasibility of a more transactional property market, however the reform in principle has been welcomed by both potential buyers and sellers. As always, time will tell, however we expect to see this enable the business of real estate manage cashflow better (developers, investors etc.) which will create additional activity and subsequently increase prices with competition.

Overall, in 2021 it will be a good year to own residential property, I expect the detached dwelling market to continue to outperform others in inner suburbs while we will likely see a renaissance in off-the-plan sales as investors and first home buyers begin competing for the same stock, leaving a hole in the market and pushing up prices making currently held development sites more feasible.

Chris Orr is the director of residential at Savills Australia
</body></html>

This year has been a rollercoaster for residential values, from January onward the market began to rally off the back of some political and financial certainty in Q3/Q4 2019.

2021 will be a good year to own residential property: Savills director of residential Chris Orr

<html><body>
<div>Sydney house prices rose by a more sedate +3.2% in the September quarter to be up by +21.7% over the year to a median price of $1,032,422 reported Domain.</div>
<div> </div>
<div>This followed on from a much faster +8.4% boom in Sydney house prices over the June quarter. </div>
<div> </div>
<div>Sydney's median unit price increased by a little over $10,000 to $673,182 over the September quarter. </div>
<div> </div>
<div>Meanwhile, Brisbane's median house price increased from $493,227 to $497,143 over the three months to September.</div>
</body></html>

pwargent-M4siyDbqQY

Sydney boom slows in Q3: Pete Wargent

<html><body>
Median prices and price indexes are very blunt instruments for measuring real estate markets.
When it comes to charting what’s happening in property markets, price data is a long way behind the game and prone to all kinds of statistical absurdities.
Price statistics are part of a chain reaction which means most investors get into markets too late to buy well. After something fundamental changes in a market, causing activity to start rising, it can be six months before it starts to be reflected in prices and even longer before it comes to attention of consumers via the media.
If you’re reading there’s a price boom somewhere, you’ve already missed the best time to purchase by at least 12 months. But that’s the signal that sparks most investors into action.
Fortunately, there’s a better way.
It’s one of clear patterns of real estate that changes in sales activity translates into price reactions, all other things being equal. It’s sounds simplistic but it’s not - it’s merely simple. There’s a correlation between sales volumes and prices rises/falls. But the change in activity comes first and the price reaction follows later.
So there are plenty of lessons to be seen in what’s happening to sales activity in major markets around the country.
Our latest edition of The Price Predictor Index shows quite starkly how much the Sydney and Melbourne markets have declined in terms of activity. 
Boom markets seldom extend beyond three years and Sydney’s cycle has inevitably passed its peak and turned south. The vast Sydney metropolitan area, with over 700 suburbs, is bereft of suburbs with forward momentum. Many suburbs now display patterns of sharply declining sales levels – and many of those areas are now experiencing price stagnation or decline.
Melbourne has followed Sydney into the post-boom phase of the property cycle. There has been a marked downturn in the number of growth suburbs in the Greater Melbourne area, down from 105 in our previous quarterly survey to 28. Most of the ranked suburbs now have Plateau markets (sales tapering off at levels below their peak).
While Melbourne generally is fading, one region that continues to pump is the Mornington Peninsula LGA. Bayside suburbs at opposite ends of the price spectrum - Rosebud West (median house price $425,000) and Sorrento ($900,000), and several others in between - have markets where sales activity is rising steadily.
Meanwhile, the City of Greater Geelong is the No.1 market in Victoria. It has plenty of upwardly-mobile suburbs, more than any other LGA in the state and fourth best in the nation (behind three municipalities in South-East Queensland). A standout feature is the growing sales activity in cheaper suburbs such as Norlane, Corio, Belmont and Clifton Springs. This doesn’t surprise, as Geelong thrives on being an affordable alternative to Melbourne.
Torquay on the Surf Coast south of Geelong and the towns of the Bass Coast LGA - including Inverloch, Wonthaggi and Cowes – are also travelling well.
Meanwhile, and this will surprise many people, Adelaide ranks as the leading capital city market now. It has more suburbs with rising sales activity (47) than all other cities. Brisbane is the only serious challenger, with 41 growth suburbs. 
Adelaide’s No.1 municipality is the Port Adelaide Enfield LGA. This is one of the largest municipalities in Adelaide, covering the inner north and north-west of the city. Eight suburbs in this LGA have forward momentum, mostly suburbs with median house prices in the range from $380,000 to $510,000. They include Broadview, Northgate, Windsor Gardens and Largs Bay. 
Also chugging along nicely is the City of Charles Sturt, one of those solid middle-market areas that have strong property markets amid the steady rise of Adelaide.
The Charles Sturt LGA includes bayside suburbs west of the Adelaide CBD, including rising markets such as Henley Beach (median house price $690,000) and Henley Beach South ($830,000), as well as some more affordable locations such as Findon ($475,000), Kidman Park ($555,000), Semaphore Park ($480,000) and Seaton ($455,000).
Brisbane and South-East Queensland still have good activity happening. The Gold Coast remains the No.1 municipality in the nation in terms of the number of suburbs with growing sales activitity and the No.2 and No.2 LGAs in that regard are found in the Brisbane metropolitan area. 
The Greater Brisbane area has a smaller number of growth markets than three months ago, but remains considerably stronger than Sydney and Melbourne. Its leading precincts are two fringe areas on the periphery of the metropolitan area – the Moreton Bay Region in the far north and Logan City in the far south. This suggests the Brisbane cycle is at or close to its peak. But, for now, it remains one of the strongest cities.
The other standout city is Hobart. The last time Hobart captured the national imagination for property investment was in 2003/2004. Most the intervening period has been characterised by economic and population stagnation and an enduring status as the basket case of the national economy.
But all that has changed. Tasmania is a contender again and this has translated into rising performance in the Hobart property market. Sales numbers are up, prices and rents are responding, and investors are starting to take action.
It helps that Hobart has the lowest prices, high rental yields and lowest vacancies among the eight capital cities.
 
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>
</body></html>

terryryder-YECXbqmri2

The correlation between property sales volumes and prices rises: Terry Ryder

<html><body>
At long last, I can say that Perth has moved into a recovery phase, after four tough years.
For the past 12-18 months, many industry people with a vested interest have been trying to talk up the market, creating false dawns of market revival.
I’ve been awaiting clear evidence and a month ago I wrote: “I continue to seek confirmation that the worst has passed for the Western Australia economy and the Perth residential property market. There are growing signs that this is the case.”
Now, having completed the research for the Winter Edition of The Predictor Price Index, I feel confident to confirm that Perth is over the worst and is on the way back.
The research found something that’s been missing from the Perth market for the past few years: suburbs where sales activity is growing and there are some prospects for prices to stop falling.
Our latest survey identified 12 growth markets, a rising number of suburbs with consistent sales and fewer “danger markets”. This is the best result for Perth since mid-2015.
Four precincts dominate this brighter picture of the Perth market: the Wanneroo and Joondalup LGAs in the far north and two solid middle-market areas, the Stirling and Melville LGAs.
Wanneroo is the standout location in the current Perth, providing four of the 12 suburbs with rising markets - Alkimos, Carramar, Clarkson and Yanchep.
Another northern precinct, the LGA of Joondalup, has been the steadiest area of Perth during the downturn and it continues to show solidity. It has seven suburbs with consistent sales rates - including Duncraig, Heathridge, Joondalup, Ocean Reef and Kingsley - while Sorrento is now a growth market in this precinct.
The municipality of Stirling stands out for sterling performance in the downturn. Two suburbs have rising markets - Carine and Innaloo - while this LGA has eight suburbs with consistent sales.
Another leader of Perth’s fightback is the Melville LGA in the southern suburbs. Both Kardinya and Leeming now have increasing sales activity, while four other suburbs are consistent performers.
Suburbs which have maintained solid sales rates amid the prolonged downturn across the Perth metropolitan area are noteworthy. They include Claremont, which has recorded between 55 and 67 sales every quarter for the past three years. Hamilton Hill has delivered between 58 and 69 sales every quarter for three years, while Willeton has managed between 80 and 88 sales, quarter after quarter, in the same time frame.
Another positive sign for Perth is the reduction in the number of danger markets (where sales activity has dropped to levels well below what might be considered acceptable in a “normal” market).
If the current trend continues, danger markets may disappear from the Perth property scene later in the year.
The existing declining markets are spread across the Perth metro area, but the area of greatest concern remains the inner-city precinct dominated by apartments.
These locations have high vacancies at a time when sales activity is still trending down. The worst-placed markets are East Perth, central Perth and Como.
The vacancy rate is 5% or higher in these locations and sales are well below the levels of a “normal” market. 
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
</body></html>

Perth residential property market moves into recovery phase

<html><body>
The Australian Bureau of Statistics (ABS) released housing finance data for August 2015 earlier this week.  
The data broadly showed a further pick-up in owner occupier lending and a slowing in investor lending. It is important to reconcile this against numerous reports that many mortgagees have been quick to advise their lenders that their properties which were formerly investment properties are now in fact owner occupied. 
This is due to the fact that most lenders are now charging a premium for investment mortgages.
<a href="/images/2015/10/09/Chart-11.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/09/Chart-11.jpg" alt="">
 
The above chart details the components of those borrowing over time. What’s immediately noticeable is that while there has been a recent surge in lending to investors, over recent months there has been a clear fall in lending to this cohort. 
While investment lending is slowing, owner occupier lending is rising however, there has been very little bounce in lending to first home buyers. For the most part the rise in owner occupier lending is being fuelled by an escalation in both refinances and borrowing for new loans to non-first home buyers. Again, it is important to note some of these figure may be being affected by re-classifications of mortgages.
<a href="/images/2015/10/09/Screen%20Shot%202015-10-09%20at%203.59.33%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/09/Screen%20Shot%202015-10-09%20at%203.59.33%20PM.png" alt="" width="785" height="305"> 
In August 2015, owner occupiers committed to $20.8 billion worth of housing finance, a 6.1% rise over the month and a 26.5% year-on-year rise.  Looking at the components of owner occupier lending there was $1.7 billion in lending for construction of dwellings, $1.2 billion in lending for purchase of new dwellings, $6.4 billion in refinances of established dwellings and $11.5 billion for purchase of other established dwellings. 
The 6.1% monthly rise in owner occupier lending was largely fuelled by a 10.4% rise in lending for purchase of established dwellings however, each component rose.  Refinances have typically been the greatest source of growth in owner occupier lending however, they recorded the slowest growth of any segment over the month.  Looking at year-on-year changes, lending for construction of dwellings rose 0.5%, lending for purchase of new dwellings rose 17.6%, refinances of established dwellings rose 26.7% and purchase of established dwellings increased by 32.6%.  
Over the coming months we will be watching closely to see whether the growth in owner occupier lending can be maintained, particularly in the face of falling population growth and no real increase in activity from first home buyers.
<a href="/images/2015/10/09/Chart-31.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/10/09/Chart-31.jpg" alt="">
 
Switching the focus to the investor segment, there was $13.6 billion worth of commitments to investors in August 2015. The value of lending to investors was -0.4% lower over the month but 12.0% higher year-on-year. It was also the first time in 13 months that the value of new lending (excluding refinances) was greater to owner occupiers than it was to investors.
Over the month there was $0.8 billion in lending for construction of dwellings and $12.7 billion in lending for established housing. Over the month, lending for construction of dwellings fell -22.0% while commitments for established housing rose 1.4%. Year-on-year lending for construction of new homes is -2.5% lower and lending for established homes is 13.1% higher.
The data appears to indicate that there is a change occurring in the mortgage lending market. Whereas investors and owner occupier refinances have been the primary drivers of growth lately, it seems as if this is now tilting to owner occupier new loans starting to dominate. Given that investment mortgages generally now have a higher interest rate than owner occupier mortgages, it may be playing a role in the tilt towards owner occupier lending. 
Furthermore, value growth has been strong for more than three years in Sydney and Melbourne and investors may be becoming concerned about the longevity of the boom while growth outside of these cities has been sedate. 
Once you also consider a record high pipeline of residential construction accompanied by a record low rate of rental growth and historical low yields perhaps a growing number of investors are looking towards other forms of investment they perceive as less risky at this stage in cycle. It’s still early days for the slowdown in investment lending but we, along with the RBA and APRA, will be watching closely to see whether the slowing in investment lending and the rise in owner occupier lending persists over the coming months. 
It is also going to be interesting to see what impact this has on overall demand for housing over the coming months in lights of evidence of a bit of a softening in the Sydney housing market.
Cameron Kusher is research analyst for CoreLogic RP Data. You can contact him <a href="https://blog.corelogic.com.au/author/cameron-kusher/" target="_blank">here</a>.
</body></html>

ckusher-ujnxiKuFQs

Owner occupier housing finance commitments take a step up: Cameron Kusher

<html><body>
Australia’s first Living Building Challenge design competition will be the first in the world to focus on a retail centre: Frasers Property Australia’s Brickworks retail project in Melbourne’s Burwood East.
The Brickworks Living Building Challenge design competition, run by the Living Future Institute of Australia with Principal Partner Frasers Property Australia, aims to explore the boundaries of sustainable design within the retail environment and redefine ‘best practice’ for the sector.
It is calling for designers, professionals, environmental experts, students and others to submit ideas for the retail centre, which Frasers Property Australia will develop within a wider masterplan for the site in the near future.
For more information, download our eBook <a href="http://propertyobserver.com.au/forward-planning/tools/ebooks-and-webinars/52152-australia-aspires-to-global-green-leadership-the-living-building-challenge" target="_blank">here</a>.
</body></html>

po-LsXgBTHBmX

Australia’s first Living Building Challenge design competition 

<html><body>
Earlier this week I was sitting amid 30-degree heat in South-east Queensland, noting that some parts of Australia had 40 degrees and others had 20, while speaking by phone to a Tasmanian friend who had just lit a fire amid wintry conditions.
Imagine our reaction if a TV weather presenter took an average of weather conditions around the nation and announced that “the temperature in Australia today was 25 degrees”.
Clearly that would be ludicrous. But every day in media, economists and other commentators take that kind of position on residential real estate. They reduce this very large and diverse nation to a single market to be described by a single figure: “Australia house prices rose 8 percent in the past 12 months.”
From that one figure which so inaccurately describes Australian residential property, they will extrapolate myriad conclusions: there’s a national property boom, prices are too high, there’s a real estate bubble in Australia, the nation is vulnerable and young people are being left behind.
The big-name ratings agencies like Moody’s and Standard and Poor’s take it a big stride further. They will access narrow data from a single source, often based on a single month’s alleged price movements, and use that to justify a press statement warning about “Australian house prices” getting out of hand.
Moody’s recently dashed off a media release warning that “resurgent housing prices” in Australia were eroding affordability, because “housing prices had risen 2.7 percent across Australia” in September. But prices hadn’t increased across Australia – the average for the capital cities had risen that much, according to one source, whose figures were contradicted by several other sources – not forgetting the notoriously erratic nature of month-to-month changes which are ignored by credible researchers. 
The lack of expertise and sophistication evident in these statements is quite startling, given the lofty reputations of the big brand-name entities making them. It really is very flimsy analysis and shallow behaviour, based not on a desire to inform but on a need to generate publicity. 
I had a call earlier this week from an ACT-based journalist wanting to discuss the market in Canberra which, he said, was going crazy “like everywhere else in Australia”. We’re entitled to expect people paid to write about real estate to have better knowledge than that. Everywhere is not going crazy in real estate and certainly Canberra is not (annual house price growth averages around 4 percent, according to three major research entities).
But that’s a common assessment I hear from all kinds of people daily. Many Australians really do believe what they read and hear: that there’s a national property boom, that prices are through the roof everywhere and no one can afford to buy.
I fear for consumers making big financial decisions based on such skinny knowledge, while wading through a sea of misinformation.
The different scenarios being played out in the thousands of markets around the country include a small number of strongly rising ones, a far greater number of mediocre ones, some with prices going backwards and a few where the local market has crashed.
Economists clearly believe there’s a national boom because interest rates are at record lows and that, in their minds, means real estate should be rising everywhere. And therefore it is.
But it isn’t. And that reality would suggest to an inquiring mind that the level of interest rates perhaps is not the over-riding factor.
In my view, the most significant factors are the underlying local economic conditions and the level of spending on infrastructure.
It is not coincidence that the No.1 ranked economy is NSW and that the city with the biggest infrastructure spend, by a wide margin, is Sydney. That’s been the case for the past three years, a time during which most markets across metropolitan Sydney have had strong price growth.
The No.2 ranked economy is Victoria, helped by strong population growth, and the infrastructure spend is reasonable, though well below Sydney’s. Not coincidentally, Melbourne has been the second strongest city market on price growth, though at levels well below the genuine boom levels of 2001-02-03.
The economies impacting Brisbane, Adelaide, Canberra and Hobart have largely been mediocre and infrastructure spending has been relatively weak in recent years. That’s reflected in the absence of price growth to match Sydney’s.
It is, again, not coincidence that the recent rise of prospects for Hobart real estate has happened alongside an improving state economy and sharply rising spending on infrastructure in Tasmania. 
Adelaide, too, is showing signs of an improving market, supported by solid economic and real estate indicators and significantly rising spending on infrastructure.
Meanwhile, Western Australia now ranks in CommSec’s State of the States report as the worst economy in the land and Perth has the weakest of the city real estate markets. The Northern Territory is also faltering and Darwin’s property market is in a similar condition to Perth’s. Prices in both cities have been going backwards for three years and record low interest rates have not helped them.
Beyond the capital cities, there are multiple different scenarios in the many thousands of different markets.
Some, including regional centres close to Sydney, have had periods of solid price growth. Others, like both the Gold and Sunshine Coasts in Queensland, have had elevated activity without yet delivering major price escalation 
Most regional markets, however, have been walking rather than running – and several, notably those impacted by the resources sector, have experienced significant decline.
We’re a massive nation and the real estate conditions are as diverse as the range of temperatures you’ll see on a weather map on the evening television news.
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>
</body></html>

Most regional markets walking rather than running

<html><body>
It's pretty much a given that if you are developing property, then you will encounter problems.
Over time, I've learnt how to deal with these fun little things that crop up. They used to stress me out and ruin my day, I found myself naturally wanting to jump into action to solve the problem as quickly as possible.
But I've learnt over time to sit with it.
Mulling the problem over from different angles allows other options to come up. This process doesn't need too much time, but sometime it needs a different perspective.
One problem-solving technique you should master as a property developer  is changing perspectives to redefine the problem.
Here's an example.
We received our builder's quote on a multi unit development project and it came in a bit higher than we estimated.
Our client had requested some specific detail in the exterior design that had an impact on the cost that posed risk of over capitalising.
Rather than do the obvious which would be to pare back the design and remove the expensive items, I sat with the issue for a day. We were looking at it from two clear perspectives; cost and design. But were there other perspectives to consider? Yes.
Another perspective I looked at was yield or return. Was the design items going to impact on the end use? Who was the end user?
In this case, it was a tenant because our client was building to hold and lease. One of our goals was to optimise the rental return. Would the upgrade bring in more rent? To be honest, no. The upgrade may make the dwelling a little more appealing but the bottom line was it wouldn't increase the yield.
Another important perspective for Property Bloom was to make our client happy. Whilst our job is to ensure the most efficient outcome, we also want our clients to feel they've participated in the process, if that is important to them - it may not be to some clients but it is to others.
 Our solution was to look at other areas of the development that we could save costs on. We were able to simplify the roof design without any considerable difference in appearance and no difference in function. So the cost savings in the roof trusses and materials allowed us to spend on the upgrades our client really wanted.
Our solution to the problem didn't compromise the project but in fact, enhanced it.
A little perspective can go a long way. 
 
Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.
</body></html>

jochivers-wq5Bp59R5a

Solving a property development problem using perspective: Jo Chivers

<html><body>
I almost choked on my fresh brew of coffee as I read what I and the local agents consider to be low rental data reports, shared last week.
I do completely understand that the author is relying on data provided by Domain head-office; nevertheless, the Domain figures are, in my opinion, far from the true reflection of the current rental market.
"Poles apart we may say..."
Real Data and live data is what is required now and in keeping with property investor demands and the financial institutions that rely on these. Most can’t and don’t have the resources to call and drive around Sydney, nor do they know where to look.
"Relying on property portal listings by agencies; is definitely fraught with  danger..." 
The following reported numbers are what I believe reflect the true picture, one that will soon be the demise of many want-to-be investors and those that have this fear of missing out. 
NORTHMEAD NSW, 2152
Property portal shows: 34 units available for rent (21/6/2016)
Real Data: reveals closer to 260 units available
CANTERBURY NSW, 2193
Property portal showing: 98 units available for lease (21/6/2016)
Real Data: reveals 360 plus units now on the market for lease. 
PARRAMATTA NSW, 2150
Property portal showing: 217 units available for lease (21/6/2016)
* ONLY A WEEK AGO THE PORTAL DATA REFLECTED "156 Vacancies." On their figures alone, this is an increase of approximately 30 percent in only a week.   
Real Data: reveals an estimated number closer to 900 units available for lease.
Warning and Tips
There are more apartment blocks under the final stages of completion. These will have occupation certificates within the next 2-3 months.  We estimate another 300-500 properties to roll onto the rental market in Parramatta in this time. 
The above mentioned manifestation,  is not confined to Western Sydney.  Many suburbs of Sydney are experiencing similar developments...
Real Data
Real Data is a compilation of information gathered from local area real estate agents, knowledge of buildings under construction and communication with the selling agents and property managers.
Real Data should serve as a warning to people looking to enter the property investment market in Sydney. In particular, people that are looking to purchase property off the plan and in newly built apartment blocks.
We recommend that the investor/property buyer, seeks local real estate advice and looks carefully at the local rental market return trends and availability. 
 
EDWIN ALMEIDA is licensee in charge of <a href="https://www.just-think.com.au/" target="_blank">Just Think Real Estate</a>.<a href="https://www.just-thin.com.au/"> </a>
He is also the creator of <a href="https://www.youtube.com/user/JustThinkProperty" target="_blank">Oz Real Estate.TV</a> and a presenter for <a href="https://propertyinvestingvault.com/" target="_blank">propertyinvestingvault.com</a>.
 
</body></html>

Residential Property

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Residential Property

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News