The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Residential Sales

<html><body>
The NSW Government’s Millers Point sales program has continued with the auction of seven properties for a combined $35.22 million.
The sales included the highest value single property sold to date – a block of 12 one bedroom apartments on the corner of Merriman and Bettington streets, which sold for $12.3 million.
The latest sales recorded an average rate per square metre of $19,462 (floor area), an increase of 23 per cent compared to the Millers Point sales program to date.
A total of 125 Government-owned properties in Millers Point have been sold, with the proceeds delivering social housing elsewhere.
The other six properties sold on 30 November include:
<table style="height: 126px; width: 629px;" border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="119">
Property
</td>
<td valign="top" width="106">
Price
</td>
<td valign="top" width="142">
Configuration
</td>
</tr>
<tr>
<td valign="top" width="119">
15 Lower Fort Street
</td>
<td valign="top" width="106">
$5.05 million
</td>
<td valign="top" width="142">
5 Bedroom Terrace
</td>
</tr>
<tr>
<td valign="top" width="119">
36 Argyle Place
</td>
<td valign="top" width="106">
$3.71 million
</td>
<td valign="top" width="142">
4 Bedroom Terrace
</td>
</tr>
<tr>
<td valign="top" width="119">
66 Bettington Street
</td>
<td valign="top" width="106">
$2.42 million
</td>
<td valign="top" width="142">
3 Bedroom Terrace
</td>
</tr>
<tr>
<td valign="top" width="119">
61 Kent Street
</td>
<td valign="top" width="106">
$2.11 million
</td>
<td valign="top" width="142">
2 Bedroom Terrace
</td>
</tr>
<tr>
<td valign="top" width="119">
42 - 44A High Street
</td>
<td valign="top" width="106">
$4.81 million
</td>
<td valign="top" width="142">
4 X 2 bedroom apartments
</td>
</tr>
<tr>
<td valign="top" width="119">
46 – 48A High Street
</td>
<td valign="top" width="106">
$4.82 million
</td>
<td valign="top" width="142">
4 X 2 bedroom apartments
</td>
</tr>
</tbody></table>
The auctions mark the end of the sales program for 2016, with the program to recommence in early 2017.
All purchasers of properties in the Millers Point sales program are required to adhere to NSW Heritage Council-endorsed Conservation Management Plans (CMPs), which set out in extensive detail the purchasers’ heritage maintenance obligations.
The seven properties were sold by Ray White and McGrath Estate Agents.
For more details please visit <a href="https://www.rediscovermillerspoint.com.au" target="_blank">www.rediscovermillerspoint.com.au</a>.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Millers Point delivers $35 million boost for social housing in one day

<html><body>
The first weekend of the summer home auction market begins this Saturday with a big weekend expected for both Sydney and Melbourne.
In Melbourne, around 1200 homes are set for Saturday auction, down from last weekend's super Saturday season-high of 1366.
More than 850 homes will go to auction in Sydney compared to last weekend’s year-high of 961.
Domain group chief economist Dr Andrew Wilson said the Melbourne auction market is however set to remain highly active over December with well over 3000 homes likely to go under the hammer before Christmas. 
"Melbourne’s western suburbs are again tops for auction activity this Saturday with 205 homes listed to go under the hammer," he said.
"Next highest is the inner south with 182 auctions followed by the inner city 159, the outer east 149, the north east 148, the inner east 126, the north 93 and the south east with 78 auctions listed.
"The most popular suburb for auctions at the weekend will again be Reservoir with 18 closely followed by Mt Waverley 17, St Kilda and Craigieburn each with 16, Richmond 15 and a number of suburbs with 14 auctions listed including Glen Waverley, East Bentleigh and Elwood.
"The heady Melbourne home auction market produced an another unequivocally good result for sellers last weekend despite the spring Super Saturday surge in listings  
"Melbourne reported a clearance rate of 77.5 percent last Saturday which was just below the 78.7 percent recorded the previous weekend but again well ahead of the 66.2 per cent recorded over the same weekend last year."
"Sydney’s south has the highest number of auctions this weekend with 118 followed by the inner west 113, the upper north shore 109, the city and east 94, the lower north 90, the west and the northern beaches each 81, the south-west 57, Canterbury Bankstown 47, the north-west 36, the central coast 26 and the Blue Mountains with one auction scheduled at the weekend.
"Blacktown is the most popular auction suburb in Sydney this weekend with 16 followed by Manly 12, Mosman 11, Hurstville nine, and a number of suburbs with eight auctions listed including Wahroonga, Ashfield, Eastwood, Epping and Chatswood. 
"Sydney reported a clearance rate of 78.8 percent last Saturday, which was only just below the 79.5 percent recorded the previous weekend and well ahead of 58.6 per cent recorded over the same weekend last year."
</body></html>

jonathanchancellor-7SQnKwU6yx

First weekend of summer auctions hot in Sydney, Melbourne

<html><body>
Orthopaedic surgeon Gordon Slater’s former holiday home at Byron Bay has been sold for $6.2 million to a Victorian family.
Located at 158 Lighthouse Road, the property was sold mortgagee-in-possession after the surgeon’s Byron Bay Cookie Company went into receivership three years ago.
Selling agent Ian Daniels from McGrath said he had received 10 registered bidders.
<a href="https://www.realestate.com.au/sold/property-house-nsw-byron+bay-123885158" target="_blank">The property</a> was listed with $4.7 million hopes.
</body></html>

10 bidders seek to snap up Byron Bay holiday home

<html><body>
<div>The asking price for houses rose nationwide in November except Perth and Darwin according to SQM Research.</div>
<div> </div>
<div>SQM Research managing director Louis Christopher said the downturn in Perth and Darwin is a reflection of the mining industry.</div>
<div> </div>
<div>"Hobart's prices too have slipped back in November after a very strong run this year," he said.</div>
<div> </div>
<div>"Year-on-year, growth in asking prices is still high in Hobart, as well as Melbourne, which now leads the nation for growth in asking prices for houses. </div>
<div> </div>
<div>Notably, asking prices for Brisbane units are down over the year and with SQM Research predicting some oversupply in 2017, downward pressure is likely to remain on unit prices there and could extend to Sydney and Melbourne with some oversupply of units predicted in 2017 and 2018."</div>
<div> </div>
<div><a href="/images/2016/11/30/Screen%20Shot%202016-11-30%20at%201.46.51%20PM.png" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2016/11/30/Screen%20Shot%202016-11-30%20at%201.46.51%20PM.png" alt=""></div>
</body></html>

Asking house prices slip in Perth, Darwin: SQM Research

<html><body>
We look at the regions that have had at least 50 settled sales in both 2015 and 2016.
<div>
Each of the council areas that have recorded the greatest total value of sales over the past year have recorded a decline relative to a year ago.
The total value of transactions is an important figure to consider for real estate and mortgage professionals.  Because commission is typically calculated for real estate agents on the value of the sale and for mortgage providers based on the size of the loan, understanding where the value of transactions is greatest is valuable.  The following analysis looks at the value of sales across council areas; keep in mind that the size of the council region will have an impact.  We have only included regions that have had at least 50 settled sales in both 2015 and 2016.
<h3>Council areas with the highest value of sales, 12 months to Aug 2016</h3>
<a href="/images/2016/11/30/2016-11-28--image1.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/30/2016-11-28--image1.jpg" alt="" width="641" height="430">
Brisbane has recorded the greatest total value of sales over the past year at $16.8 billion however, the value is -11.2 percent lower over the year. The first table shows the total value of sales over the past year and the previous year for each of the 20 council areas nationally with the greatest value of sales.  Each of the top 20 regions listed have seen fewer overall sales and a lower total value of sales relative to 2015.
The second table shows the council regions that have seen the greatest increase in the overall value of sales over the past year. Circular Head in Tasmania has seen a 91.6 percent increase in the value of sales over the past year.  Most of the regions listed have seen an increase in sales over the year, the exceptions have been Circular Head and Wakefield. This suggests that the increase in value has been more driven by an increase in values of properties rather than an increase in turnover.
<h3>Council areas with the greatest increase in value of sales, 12 months to Aug 2016</h3>
<a href="/images/2016/11/30/2016-11-28--image2.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/30/2016-11-28--image2.jpg" alt="" width="650" height="460">
The final table highlights the council regions nationally that have recorded the greatest decline in the total value of sales over the past year.  Maranoa in Queensland has recorded then greatest decline in the total value of sales over the year, -48.1% lower.  In each of these regions except for Isaac in Queensland, the number of sales is lower over the year which is clearly contributing to the decline in value of sales.  A number of these regions are also linked to the mining and resources sector where home values have fallen substantially over recent years.  These factors are also contributing to the slide in the overall value of sales.
<h3>Council areas with the greatest decline in value of sales, 12 months to Aug 2016</h3>
<a href="/images/2016/11/30/2016-11-28--image3.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/30/2016-11-28--image3.jpg" alt="">
With the turnover of housing stock reducing across the country and fewer homes available for sale the amount of commission is reducing. One strategy that will help to alleviate this reduction in the commission pool is for industry participants to target those areas where turnover is increasing. Mortgage professionals will need to look more at opportunities in the refinance space, in Sydney and Melbourne in particular, these opportunities should be sufficient given the significant rise in housing equity over recent years. 
Of course, another strategy to protect revenue is to improve market share.  Many businesses tend to tighten the purse strings for marketing and business development, however a contracting market offers up good opportunities to expand market share and increase productivity.
Cameron Kusher is research analyst for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/">here</a>.
</div>
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ckusher-ujnxiKuFQs

Brisbane property sales drop off: CoreLogic's Cameron Kusher

<html><body>
<img src="https://counter.theconversation.edu.au/content/69487/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
The government is proposing changes to the foreign investment framework that will allow a foreign real estate investor to purchase an off the plan dwelling when another foreign investor has failed to reach settlement.
In announcing the changes, Treasurer Scott Morrison deployed a familiar narrative about foreign investment increasing housing supply and making “housing more affordable for more Australians”.
This idea is in keeping with property development lobbyists, who are focused on getting government to release more land to solve the complex long-term housing affordability problem in cities. 
However, researchers have debunked this idea before (see here and here). Their conclusion is that government cannot supply its way out of the housing affordability problem in major Australian cities.
The government’s focus on the concerns of the property industry renders invisible a broader set of interested parties and a much more nuanced suite of contributing factors and solutions.
The current foreign investment rules are a blunt set of regulatory tools, held captive to the housing supply and global competitiveness debates. 
<h2>Not all foreign real estate investors are the same</h2>
There are important differences between individual foreign real estate investors, which are regularly conflated in foreign investment policy and the public debate.
In broad terms, there are four investor groups. A class-based distinction defines people from the expanding middle class in countries like China. They are called the new middle class.
A disposable asset distinction, which excludes primary residences, separates the three remaining groups. High net worth individuals have disposable assets that exceed US$1 million. Ultra high net worth individuals have asset holdings in excess of US$30 million. Ultra, ultra high net worth individuals have a minimum of US$50 million in disposable assets in a wealth management fund.
In the absence of fine-grained data about which groups are investing and their differential impacts on cities and housing, the treasurer has opted to protect the development industry rather than the people and places within cities. 
A regulatory environment that is sensitive to various investor groups is important in Australia because different investors impact their host cities in diverse ways. 
<h2>Regulating foreign investors, sales or capital</h2>
How foreign capital intersects with local real estate markets depends onon who is investing capital, the properties in which the capital is being invested and the investment vehicles through which the capital is being transferred.
The arrival of foreign capital is not always accompanied by the arrival of new permanent residents for the city. Therefore, the investors interact with local infrastructure and shape housing supply in diverse ways.
There is a big difference between the impacts of new middle class and high net worth investors in cities compared to ultra and ultra, ultra high net worth investment.
Ultra, ultra high net worth individuals can be “free-floating” investors who travel around the world, purchasing real estate in various global cities. Rowland Atkinson argues this group has little allegiance to the host neighbourhoods. 
Ultra high net worth investors might move between multiple residences and have attachments to the neighbourhoods their properties are in. The new middle class and high net worth investors might live in, or send their spouse and/or children to live in, the house they have purchased. They often have an allegiance to the cities or neighbourhoods their properties are in.
The personal motivations of foreign investors are important too. They can extend far beyond financial considerations.
Foreign investors are motivated by the opportunities that exist in Australia and how these relate to their own migration plans, their children’s education and the financial security that Australian real estate supposedly guarantees. 
Therefore, who is investing and their residency status will shape the neighbourhood, city and perhaps even the country into the future. 
Neighbourhoods with high concentrations of ultra high net worth investors in London appear to be (or may be) devoid of people. Local businesses in these suburbs have become untenable as local patronage declines. 
New middle class and high net worth investors might change the social fabric, educational institutions or employment landscape of a neighbourhood or city through habitation, for good or ill. 
International evidence shows that some investors will occupy their property, others place it on the rental market, some buy multi-million-dollar trophy homes, while others increase the housing supply in a neighbourhood of absentee owners and fading businesses. 
Therefore, the impact of foreign investors on housing supply is related to the investment practises of each investor, the amount of capital they bring into Australia and how they invest it. 
<h2>More dynamic foreign investment rules needed</h2>
Housing supply and global competitiveness arguments have captured the foreign real estate investment debate. Both are too simplistic and need to be augmented with additional voices, policies and data. 
Governments justify their pro-foreign investment and business immigration policies through “financial benefits” arguments in times of prosperity and “economic necessity” arguments in times of hardship. 
These top-down narratives position foreign real estate investment as good for the local economy, with secondary benefits such as increasing housing supply and jobs growth through targeted skill migration and business development. 
The government needs to understand how foreign investment is shaping cities from the ground up. This includes: how foreign investment impacts people in the local neighbourhoods where these properties are located; how developers change the dwellings they build to suit foreign investors; how changing educational institutions are shaping foreign student investment; and the experience of first homebuyers who are looking for a home in the same property markets.
Dallas Rogers is urban studies researcher: Institute for Culture and Society &amp; Urban Research Program, Western Sydney University and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/dallas-rogers-5269" target="_blank">here</a>.
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Changes for off the plan foreign buyers rely on a broken supply argument

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New home sales declined by 8.5 percent in October to their lowest level in two years.
Sales were down for both detached houses (-8.2 percent) and multi-units (-9.2 percent).
The drop was led by Victoria which saw a 20 percent decline in detached house sales.
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<div>New home sales are now 13 percent below their peak in April. </div>
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<div>The Housing Industry Association (HIA) sees this as consistent with its forecast of housing starts declining to 172,000 by 2018/19, driven by a substantial drop in apartments, which is fair enough.</div>
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PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>. 
His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.
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Two year low for new home sales: Pete Wargent

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A terrace home in Paddington, home to the late artist Shay Docking, has been listed for auction.
Located at <a href="https://www.realestate.com.au/property-terrace-nsw-paddington-124091930" target="_blank">69 Cambridge Street</a>, the property was left to the Art Gallery of NSW when Docking passed away on the condition that her husband, Gil Docking, could remain until his death.
Shay had owned the properpty since 1965 when she bought it for £6750.
The upper-level sundeck has views to the city.
The property is expected to fetch $2.3 million at its December 5 auction through Catherine Dixon of BresicWhitney.
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Late artist Shay Docking's Paddington terrace listed for auction

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Two inner suburban properties offered at recent auction by agents Gray Johnson have been purchased by developers proposing either townhouses or a mix of commercial and residential projects.
They are reflective of the strong current market demand for townhouse development sites in particular.
They were offered as surplus to the needs of a major corporate, with architectural conceptual plans prepared for potential developments.
The property at 570 Neerim Road, Hughesdale was auctioned as a vacant site with a developable area of approximately 590 square metres and a street frontage to Neerim Road of 15 metres.
Holding a general residential zoning, it sold at auction for $1,119,000 to a developer who will consider a townhouse project for the site.
Another property, known as part 101 Cape Street in Heidelberg, has a developable area of approximately 309 square metres with a frontage of some 17 metres to Sheffield Lane and holds a commercial 1 zoning.
It sold at auction for $1 million to a developer believed to propose a mixed use multi-level commercial and residential project.
Gray Johnson director Matt Hoath says that this property is in close proximity to Heidelberg’s primary retail and services strip along Burgundy Street.
This includes the Warringah Shopping Centre, with easy access to the Mercy Women’s and Austin Hospitals and the Heidelberg Station.
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Two Hughesdale potential townhouse development site sold

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New home sales fell to a two year low during October according to The Housing Industry Association.
HIA senior economist Shane Garrett said sales fell by 8.5 percent, the lowest volume of sales since July 2014,
“Sales on both sides of the market saw sizeable reductions during October,” he said.
“Detached house sales were down by 8.2 percent during the month, while multi-unit sales fell by 9.2 percent.
“The reduction in the volume of new home sales is not unexpected, given that Australia is coming to the end of its longest and strongest new home building upturn.
“October’s new home sales results are consistent with HIA’s latest forecasts for new home building starts which foresee a reasonably marked reduction in activity over the next couple of years. Even so, activity is projected to fall to a low point of around 172,000 new dwellings starts during 2018/19, about the same as the average of the past decade,” concluded Shane Garrett.
"During October 2016, detached house sales fell in three of the five mainland states covered by the report. 
"The largest reduction in sales volumes during the month was in Victoria (-20.4 percent), with new detached house sales also falling in Western Australia (-5.6 percent) and New South Wales (-2.8 percent). New detached house sales rose by 4.5 percent in Queensland during October, with a slight increase of 0.8 percent in South Australia."
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