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 40-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 40-storey tower, which has just shy of 230 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

Sales

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The list of the 10 top residential sales across Australia compiled by CoreLogic RP Data over the past week features half from Melbourne, with two from Kew.
<a href="https://www.realestate.com.au/property-house-qld-sunnybank+hills-119891353" target="_blank">But a Queensland sale</a> tops the list. It was an an unusually striking long lowest home that was sold as a development site.
The deceased estate listing was a 10,472 sqm holding in this popular south side suburb. 
 
1. 81 Pinelands Road, Sunnybank Hills, QLD, 4109, four-bedroom house, sold on June 24 by L J Hooker Sunnybank Hills for $5.8 million
2. 126 Sackville Street, Kew, VIC, 3101, six-bedroom house, sold at auction on June 27 by Rt Edgar Boroondara for $5.56 million
3. 20 Studley Avenue, Kew, VIC, 3101, five-bedroom house, sold on June 27 by Ray White Glen Waverley for $4.58 million
4. 9 Smythe Avenue, Mont Albert, VIC, 3127, five-bedroom house, sold on June 23 by Jellis Craig Real Estate Hawthorn for $4.3 million
5. 21 Iluka Road, Mosman, NSW, 2088, four-bedroom house, sold prior to auction on June 27 by Century 21 Mosman for $4.07 million
6. 5/37 Hastings Street, Noosa Heads, QLD, 4567, three-bedroom unit, sold on June 23 by Richardson &amp; Wrench Noosa Heads for $3.9 million
7. 6 Tryon Street, Chatswood, NSW, 2067, five-bedroom house, sold at auction on June 27 by Shead Property Chatswood for $3.87 million
8. 92 Carrington Road, Wahroonga, NSW, 2076, six-bedroom house, sold at auction on June 27 by Ray White Gordon/St Ives for $3.675 million
9. 2 Terama Court, Glen Waverley, VIC, 3150, five-bedroom house, sold at auction on June 27 by Jrw Property International Glen Waverley for $3.625 million
10. 1A Monomeath Avenue, Canterbury, VIC, 3126, four-bedroom house, sold at auction on June 27 by RT Edgar Boroondara for $3.5 million
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jchancellor-FAypfDUnLy

Sunnybank Hills top sale for the week

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Commercial estate agents Burgess Rawson have cleared $47 million in one afternoon of property sales, with the highest being a $5,920,000 NSW Government sale in Hornsby with a yield of 1.89%.
The highest figure paid for a non-government client was for an Aldi supermarket in Dural, with a $4,600,00 sale representing a yield of 5.92%.
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mick.cee-iDmgDDAmu8

Commercial agents Burgess Rawson clear $47m in one afternoon 

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Cheltenham tops the REIV list of the best and busiest eastside suburbs in its year to date tally. 
REIV CEO Enzo Raimondo said the four 'red-hot' suburbs are Blackburn South, Ferntree Gully, Chadstone and Heidelberg, with each having had 15 or more auctions and all those homes sold.
"By the same time last year only one suburb – Ashwood – had a clearance rate of 100%,” Mr Raimondo said.
"There had been close to 10,000 auctions across Victoria in the June quarter, with 79% of properties – that’s almost 8,000 – sold and this was up from a clearance rate of 71% and 10,700 auctions for the same period last year.
“High demand, combined with slightly lower levels of stock in the past couple of months, has meant a drop from 37 days in April to 35 days in Metropolitan Melbourne in May – significantly lower than the long-term average of 39 days."
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Cheltenham tops the REIV list of the busiest eastside suburbs

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The HIA New Home Sales Report, a survey of Australia’s largest volume builders, recorded the first decline for 2015 in May. 
“The four month winning streak came to a modest end in May 2015 with total seasonally adjusted new home sales falling by 2.3%,” said HIA chief economist, Dr Harley Dale. 
“The decline was driven by a 5.1% dip in detached house sales, reflecting weaker monthly demand in four out of the five states surveyed.” 
“This is a softer result at face value, but delving beneath the surface reveals an aggregate profile of healthy new home building conditions in 2015,” Harley Dale said. 
“The mature stage of the new home building cycle primarily reflects further momentum in the ‘multi-unit’ sector, together with persistence of healthy conditions in New South Wales and Victoria.
“New sales of multi-units increased by 7.6% during the month to yet a new record level, with sales volumes up by 26.7% over the three months to May."
In the month of May 2015 detached house sales increased by 3.3% in Queensland, but fell by 2.3% in NSW, 9.9&amp; in Victoria, 5.2% in South Australia, and 8.1% in Western Australia. In the May 2015 quarter, detached house sales increased in NSW (+5.2%) and Victoria (+6.2%). Sales fell over the three month period in SA (-8.1 per cent), Queensland (- 7.5%), and WA (-1.3%).
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New house sales slip in May, but new units at record level: HIA 

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Sales data over the 12 months to March 2015 shows that there have been more homes sold across the combined capital cities for less than $200,000 than there have been homes sold for more than $1 million. As you would expect there is a growing proportion of sales in excess of $1 million in Sydney and Melbourne while homes selling for less than $200,000 are almost exclusively found in Hobart and Adelaide.
Over the 12 months to March 2015, a record low 6.1% of capital city home sales were below $200,000 and 31.8%sold for between $200,000 and $400,000, the lowest proportion since the 12 months to October 2001. While we are seeing a decline in sales at the lower price points, predictably more expensive sales are increasing.  Over the 12 months to March 2015, 10.0% of all homes sold across the combined capital cities sold for more than $1 million, a record high. As we will discover the proportion of homes selling in excess of $1 million is substantially higher within cities such as Sydney and Melbourne.
Sydney
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Over the 12 months to March 2015, a record low 8.9% of Sydney houses sold for less than $400,000 compared to a record high 34.0% of houses selling above $1 million.  The remaining 59.2% occurred between $400,000 and $1 million.  For the unit market, a record low 18.6% of sales were below $400,000 whilst there was a record high 71.1% between $400,000 and 1 million and a record 10.3% above $1 million.  The impact of a surge in home values over the past year is being felt at the lower end of the market with a sharp drop in sales below $400,000 for both houses and units over the past year.
Melbourne
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24.5% of Melbourne houses and 36.9% of Melbourne units sold for less than $400,000 over the 12 months to March 2015.  In comparison, 16.5% of houses and 5.1% of units sold for more than $1 million.  For houses, the proportion of sales below $400,000 was at a record low while it was just shy of a record low for units.  Conversely, both houses and units logged a record high proportion of sales over $1 million.  Like Sydney, the impact of the value rises over recent years is being felt most at the lower-end of the housing market with a sharp decline in sales below $400,000.  This is highlighted both by the table above which shows a sharp drop in sales below $400,000 over the past 20 years.  Unlike Sydney, finding more affordable housing options is relatively easier in Melbourne with almost 1 in 4 houses and more than a third of units selling for less than $400,000.
Brisbane
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Across all sales, 30.6% of houses and 52.5% of units transacted in Brisbane over the year to March 2015 sold for less than $400,000.  The proportion of houses sold for less than $400,000 was at a record low while the proportion for units was lower in the middle of last year.  House sales in excess of $1 million were at a record high 5.9% over the past year while the 2.3% of unit sales over $1 million is still a way off the record high 3.1% in early 2011.  Brisbane has seen fairly moderate value growth over recent years however, we are still seeing an erosion in sales at the lower end of the market, albeit the deterioration is moderate compared to Sydney and Melbourne.  10 years ago, almost three quarters of houses and more than 4 out of every 5 unit sales was below $400,000, as the above table shows there has been a marked shift over the past decade to fewer lower priced sales.  Relative to Sydney and Melbourne properties selling for less than $400,000 are much more common across Brisbane.
Adelaide
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 Over the 12 months to March 2015 45.3% of Adelaide houses and 65.9% of units sold for less than $400,000.  The proportion of houses and units sold for less than $400,000 was at a record low over the past 12 months however, lower priced housing stock is much more readily available than across all other mainland capital cities.  While sales at a lower price point are falling, a record high 4.7% of houses sold for more than $1 million over the past year.  For units, 2.6% of all sales were over $1 million which was lower than the 3.5% recorded in mid-2008.  Value growth across Adelaide has been limited since the financial crisis, nevertheless the proportion of homes selling for less than $400,000 has continued to decline.  Adelaide offers much more affordable housing options than all other mainland capital cities.
Perth
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15.1% of Perth houses and 37.7% of Perth units sold for less than $400,000 over the 12 months to March 2015.  In comparison, 10.8% of Perth houses and 4.2% of units sold for more than $1 million over the past year.  The proportion of houses and units selling for below $400,000 is above the record-low of 14.7% and 36.9% respectively both of which occurred over the past year.  The climb in more affordable sales over recent months is likely to be reflective of the fact that value growth has hit a stand-still in Perth over the past 12 months. Furthermore, new supply of homes is at close to record highs across the city currently.  Perth has recorded one of the strongest capital growth rates over the past decade and as a result there has been a substantial decline in the proportion of homes selling for less than $400,000.  This is highlighted by the fact that 10 years ago 81.7% of Perth houses and 88.0% of units sold for less than $400,000. In fact, Perth currently has fewer house sales below $400,000 than all capital cities except for Sydney and Canberra.
Hobart
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Hobart is the nation’s most affordable capital city and also sees an overwhelmingly larger proportion of lower priced house and unit sales.  Over the 12 months to March 2015, 61.4% of Hobart houses and 82.0% of units sold for less than $400,000.  Hobart is the only capital city in which a majority of houses have sold for less than $400,000 over the past year.  Subsequently, relatively few homes sell for over $1 million with just 1.5% of all house sales and 1.7% of unit sales over that price point.  Hobart’s housing market has seen very little growth in home values over the past 10 years yet there has still been a fairly substantial decline in house sales below $400,000 while unit sales below $400,000 have seen little change.    10 years ago, 86.9% of all house sales were less than $400,000 and 88.5% of unit sales sat within that price point.
Darwin
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Darwin has recorded the strongest value growth of all capital cities over the past decade; as a result it has shifted from being one of the most affordable capital cities to now being one of the most expensive.  Over the 12 months to March 2015, 20.8% of houses and 28.8% of units sold for less than $400,000.  Alternatively, 6.3% of houses and 4.8% of units in the city sold for more than $1 million.  The proportion of houses selling for less than $400,000 has started to trend higher over recent months as values have fallen while unit sales below $400,000 are at a record low.  The proportion of sales above $1 million is below its record high for houses and units with the record high coming for houses over the past year and in late 2010 for units.  With value growth in Darwin the strongest of all capital cities over the past decade, the decline in the availability of more affordable housing is clear.  Around 1 in 5 house sales nowadays are below $400,000 compared to 9 out of 10 a decade ago.  For units, just over 1 in 4 sales nowadays are below $400,000 compared to more than 9 in 10 a decade ago.
Canberra
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Over the 12 months to March 2015, 7.8% of Canberra houses and 42.3% of Canberra units sold for less than $400,000.  On the other hand, 5.9% of house sales and 2.4% of unit sales were for more than $1 million over the year. The proportion of houses selling for less than $400,000 is currently at a record low while unit sales below $400,000 reached their low point throughout the past year at 39.7%.  The number of houses selling over $1 million is below its peak of 6.2% a couple of months earlier, as are unit sales at this price point.  Although home value growth in Canberra has been moderate over the past 5 years, there’s been a fairly substantial fall in sales below $400,000 over that time.  5 years ago, 23.2% of Canberra houses and 56.7% of units were sold for less than $400,000.
The data shows that whether you look at interest rates, household incomes or any other factor that can influence affordability; we have seen a sharp decline in homes selling at a lower price point in over the past decade.  Of course, even a home priced at $400,000 won’t be cheap enough for some potential home buyers.  It is to be expected that the cost of housing rises over time however, there are social issues surrounding the sharp decline in lower priced homes.  The result is that more people have to choose to rent or alternatively they have to move away from our capital cities or to smaller capital cities.  Of course, finding employment in smaller capital cities and regional markets can be more difficult.
Anecdotally we are also hearing that in markets such as Sydney and Melbourne first time buyers are purchasing investment properties rather than owner occupied properties for their first home.  We also hear that a number are purchasing investment properties outside of these two cities where you can seemingly get better value for money.  Of course, in most markets outside of Sydney and Melbourne the economies are currently weaker and capital growth has been much more moderate.
Housing affordability is a very individualistic issue however; the data contained here shows that housing at a lower price is becoming much harder to come by, particularly in our larger capital cities.
Cameron Kusher is RP Data’s senior research analyst. Follow Cameron on Twitter <a href="https://twitter.com/cmkusher" target="_blank">here</a>. 
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1 in 10 capital city home sales over $1 million: Cameron Kusher

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The latest <a href="/expert-insights/buying/6-5-quarterly-increase-in-melbourne-housing-values-led-by-inner-20km-suburbs-valuer-general">Victorian Property Sales Report</a> - covering the December 2014 quarter - has been released this month and found the median house price for Sorrento increasing by 19.5% for the December quarter. 
The report sampled median house prices from ten towns, with six of the towns increasing in median house prices from the September 2014 to December 2014 quarters. 
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Sorrento leads in median seaside price increase

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Toorak topped the past week's sales, according to CoreLogic RP Data, but didn't have any further entries on the top 10.
It was a four bedroom 1890's Victorian residence, set between Toorak and Hawksburn Villages, on a 1173 sqm block with a return drive. There was a tessellated verandah, and is arched entrance hall leads to a formal sitting room with open fireplace and a formal dining room (pictured above).
It last sold at $278,000 in 1982. 
Melbourne homes narrowly dominated the list. 
41 Mathoura Road, Toorak, VIC, 3142, four-bedroom house, sold at auction on June 20 by Marshall White Armadale for $5.73 million
23 Finch Street, Malvern East, VIC, 3145, five-bedroom house, sold at auction on June 20 by Marshall White Armadale for $4.53 million
8A/13 Thornton Street, Darling Point, NSW, 2027, three-bedroom unit, sold at auction on June 16 by BradfieldCleary/Laing + Simmons for $3.68 million
47 Erica Avenue, Glen Iris, VIC, 3146, four-bedroom house, sold at auction on June 20 by Gary Peer &amp; Associates Caulfield North for $3.65 million
11 Bristol Street, Surrey Hills, VIC, 3127, four-bedroom house, sold at auction on June 20 by Jellis Craig Real Estate Hawthorn for $3.58 million 
13 Kerferd Street, Malvern East, VIC, 3145, four-bedroom house, sold at auction on June 20 by Marshall White Armadale for $3.55 million
11 Fernhurst Drive, Glen Waverley, VIC, 3150, five-bedroom house, sold at auction on June 20 by Ray White Glen Waverley for $3.45 million
1C Tara Street, Woollahra, NSW, 2025, four-bedroom house, sold on June 16 by BradfieldCleary Double Bay for $3.3 million
17 Carnarvon Avenue, Glenhaven, NSW, 2156, six-bedroom house, sold on June 17 by Louis Carr Real Estate Glenhaven Castle Hill for $3.2 million
391 Bronte Road, Bronte, NSW, 2024, three-bedroom house, sold on June 16 by McGrath Estate Agents for $3.15 million.
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Toorak 1890s home tops weekly sales

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Over the March 2015 quarter, 9.1% of all homes recorded a gross loss when resold, and when compared to their previous purchase price, according to CoreLogic RP Data.
This figure was slightly higher than the 8.6% recorded at the end of 2014, but lower than the 9.6% over the same quarter last year. 
There was an average loss of $69,468. 
But while 9.1% of resales were transacted at a loss, 90.9% of properties resold over the quarter sold at a profit.
CoreLogic RP Data's Cameron Kusher noted that 30.7% of homes resold for more than double their previous purchase price. 
"Across those homes which sold at a profit, the total value of this profit was recorded at $13.8 billion with the average gross profit recorded at $230,633." 
The lowest proportions of loss making resales are currently found in: Sydney (2.4%), Melbourne (6.2%), Perth (6.7%) the regional NSW (8.6%). 
The highest proportions of loss making resales were recorded in: Regional WA (21.0%), Regional Qld (20.9%), Regional TAS (19.8%) and Regional SA (17.0%). 
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Across the country, those homes that resold at a loss had an average length of ownership of 6.0 years. 
Across all sales recording a gross profit the average length of ownership was recorded at 10.0 years, while homes which sold for more than double their previous purchase price were owned for an average of 16.8 years. 
According to Mr Kusher, the data also highlights the fact that ownership of property, whether for investment or owner occupier purposes should be seen as a long-term investment. 
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CoreLogic RP Data's quarterly Pain &amp; Gain report, highlighted regions where properties sold for less than their initial purchase price.
Leading the results for the largest proportion of loss-making re-sales is unit dwellings within lifestyle markets. 
According to research analyst Cameron Kusher, an interesting trend to emerge throughout each of the capital city housing markets is that the proportion of loss-making resales is now lower than each of their recent post financial crisis peaks. 
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Sydney, Melbourne, Brisbane, Hobart &amp; Canberra recorded the lowest proportion of loss-making resales while in the remaining capital cities the proportion of losses is trending higher. 
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Across Perth and Darwin, the results show a rapid lift in the proportion of loss-making resales over recent months. This is mirroring broader housing market conditions where value growth has stalled, listings are rising, sales are falling and rental rates are reducing. 
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For the regional areas of the country, the proportion of loss-making resales is higher than those within the capital cities with resales trending lower in Regional NSW, Regional SA and Regional TAS, is relatively flat in Regional Vic and Regional Qld and trending higher in Regional WA and Regional NT.
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Average $69,000 loss when 9% sold property in 2015 March quarter

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The latest <a href="/expert-insights/buying/6-5-quarterly-increase-in-melbourne-housing-values-led-by-inner-20km-suburbs-valuer-general">Victorian Property Sales Report</a> - covering the December 2014 quarter - has found the metropolitan suburb of Clifton Hill to have the largest increase in median price in a suburb with ten or more sales across the Melbourne metropolitan area.
Clifton Hill had 22 sales with the median price increasing 43.1% from $894,500 to $1,280,000, though perhaps more reflective of the type of housing available than the actual price growth. The Victorian valuer general noted quoting the highest and lowest increases and decreases for the quarter does not necessarily provide a definitive indication of the property market. 
However, he suggests the examples may be useful for analysis and comparison though can be misleading in some instances. 
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"Property analysts will be able to define and explain various locations’ trends using their knowledge of individual locations and their associated sub-market anomalies." 
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The suburb with the next closest median price increase for the same period was Hawthorn East, a 28% increase to $1,562,000.
Throughout the Melbourne metropolitan area, median house price sales during the December 2014 quarter increased 6.5% to $570,000, units 5.6% to $475,000 and vacant land 2.6% at a median value of $220,000.
For the year ending December 2014 houses in the Melbourne metropolitan area increased 0.9%, units 2.6% and vacant land 5.8%.
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For the full report, which includes an itemised suburb list, click <a href="/news">here</a>.
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Clifton Hill leads median increase in Melbourne metro

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The latest Victorian Property Sales Report - covering the December 2014 quarter - has been released this month.
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The median price of houses in Victoria increased by 6.7% from $450,000 to $480,000 over the December 2014 quarter. 
For the 12 months from December 2013 to December 2014, the median house price in Victoria increased a more modest 2.1%. 
The median price of units in Victoria increased by 5.9%, from $425,000 in the September 2014 quarter to $450,000 at the end of the December 2014 quarter.
 For the 12 months from December 2013 to December 2014, median unit prices increased 2.3% from $440,000.
Metropolitan Melbourne sales statistics for the December 2014 quarter show increases of 6.5% to $570,000 for median house prices, 5.6% to $475,000 for median unit prices. 
For the 12 months to December 2014, median sales prices in metropolitan Melbourne showed increases of 0.9% for houses, 2.6% for units and 5.8% for vacant land.
In the December 2014 quarter the median house price in country Victoria increased by 5.2% from $290,000 to $305,000. Units increased by 6.4% to $250,000, and vacant land increased by 1.5% to $132,000. 
Over the 12 months to December 2014, median sale prices in country Victoria showed a 1.7% increase for houses, 2% increase for units and 2.6% decrease for vacant land. 
Of the 714 listed Victorian locations, 279 had median house price increases for the December 2014 quarter compared to 270 in the September 2014 quarter. Four localities recorded no change, 203 showed a decrease and 228 had insufficient sales. 
The highest number of house sales for the quarter was 230 in Berwick. 
There were 35 locations with 100 or more sales in the December 2014 quarter, the Victorian Valuer-General, Robert Marsh said.
The Victorian Property Sales Report represents 93% of sales across the state, based on official Notices of Acquisition.
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The number of house sales so far recorded across Victoria for the December 2014 quarter is 22,255. 
The number of metropolitan sales for the quarter is expected to culminate at 17,557, which is 16.4 per cent higher than the September 2014 quarter and 9.6% higher than the December 2013 quarter.
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The data indicates that the driving factor in the 6.5% increase in metropolitan Melbourne housing values were localities within 20km of Melbourne. 
The following table demonstrates the volatility in median house price changes and indicates the need for data analysts to undertake their own detailed research.
 
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Inner suburbs (within 10 km of Melbourne CBD)
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Eastern Suburbs (10-20 km from Melbourne CBD)
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Western suburbs (10–20 km from Melbourne CBD)
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Outer-western suburbs (20+ km from Melbourne CBD)
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Outer-eastern suburbs (20+ km from Melbourne CBD)
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