Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

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Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Terry Ryder

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I imagine there will always be people who see the CBD as the beacon for all things real estate. They are the diehards who measure property in terms of its proximity to the tall office buildings.
It’s a cherished belief founded in myth and fantasy.
I’m frequently assaulted by emails from people who think you’re nowhere if you’re not within 10 kilometres of a CBD. They’re people who haven’t made the transition to the new century. Nor have they conducted any meaningful research.
There was a time when the CBDs were the centre of the universe because most of the jobs were there, a lot of the industry was there and most of the shops were there. It was important to live close to this hub of all things important.
Historically, industrial uses occupied riverside property in or near the city centre. Over time that has changed. These days, businesses with industrial premises and warehousing needs don’t want to be in the central city. They want to be close to major transport routes and on less expensive land, which means industrial businesses and their jobs have migrated progressively to the outer suburbs.
Also historically, the major shopping precincts were central city. That was before the creation of regional shopping centres. These days, no one goes into the CBD to do their shopping. The only people who shop in the city centre are those who work or live there.
That leaves office property as the cornerstone of CBD relevance. But that is being eroded gradually as well. Office precincts have sprouted in the middle and outer ring suburbs, providing cheaper office space for businesses that don’t really need to be in the city centre.
In modern Australia, CBDs are no longer the hubs of all things important. Increasingly, the economic centre of our major cities is shifting away the CBDs. Increasingly, the big employment nodes are a long way from the city centre.
Being close to the CBD is no longer a proper benchmark for the worth of a piece of real estate. Today, these are many factors more important than the CBD in terms of what you need to be near to have intrinsic value.
They include infrastructure, such as transport links, medical services and education facilities. They also include jobs nodes.
Major jobs nodes which are usually a lot way from the central city include sea ports, airports, industrial estates, office parks, logistics centres, heavy industry, regional shopping centres, bulky goods retail precincts, and many others.
I read a report this week which confirms that Sydney’s “economic centre of gravity” is now some distance from the CBD. According to analysis by the Committee for Sydney and consultancy PwC, the economic centre of gravity – the point around which all economic output is evenly balanced – is at Concord, 9 kilometres west of the CBD.
The report found that the CBD precinct contributes about 20% of the Sydney economy. This means the CBD is important. It also means that 80% of the Sydney economy is elsewhere.
Key suburban commercial centres like North Sydney, Macquarie Park, Parramatta, Homebush, Mascot and Chatswood collectively also contribute around 20% of the Sydney economy. There’s another 60% running around out there in the suburbs of the Sydney metropolitan area.
The report suggested the economic centre of gravity has been moving north-west from the CBD for more than a decade, thanks to the commercial hubs that have developed at Macquarie Park, Sydney Olympic Park, Parramatta and other suburban locations.
It also suggested that Melbourne's economic centre of gravity is now 6.7 kilometres south-east of the city’s CBD.
The report suggests that one of the outcomes of the rising influence of alternative business centres in Sydney is the need for better transport connections between them.
This tends to support the Hotspotting theory that infrastructure, especially transport infrastructure, is the greatest generator of growth in property markets.
Commercial centres and jobs nodes have moved further and further from the traditional CBDs. The locations that have those precincts, as well as good transport links, strong infrastructure and affordable real estate, are the places that attract the lion’s share of demand from real estate buyers.
That mass demand is driving house prices. As I wrote in this column on Tuesday, research from DSRdata.com.au shows that growth in the outer-ring suburbs of Sydney has exceeded that in the inner-ring over the past three years.
TERRY RYDER is the founder of <a href="https://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://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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terryryder-YECXbqmri2

There's more to a great investment than proximity to the CBD: Terry Ryder

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Many investors fret about not being able to afford to buy in locations they regard as “prime”. Their definition of prime is often “expensive” and/or “inner-city”. And that’s their first mistake.
They think this is where the best growth lies. They think this because the supremacy of prime property is most of real estate’s most enduring myths, promoted by the self-interested and the poorly-informed.
But investors on a budget can relax. The research keeps showing that the best capital growth rates over time are found, consistently, in cheaper areas.
I wrote on Property Observer on 16 March: “My own research contradicts the claims of the supremacy of “prime” property. The Top End markets never produce the best long-term capital growth rates. In most of our capital cities, the lists of best suburbs for long-term growth are dominated by the affordable end of town.”
I commented that Logan City, a downmarket sector in the Brisbane metropolitan area, was our pick as the number one market for investors right now.
My research, confirming that affordable areas with identifiable growth drivers consistently provide the best capital growth rates, has been reinforced by information provided to me by researcher Jeremy Sheppard, who runs the DSRdata.com.au website.
Sheppard this week completed some research on the precincts of the Sydney metropolitan area, comparing the degree of capital growth in the inner, middle and outer ring areas over the past three years – the period in which the Sydney market has been playing catch-up after a lengthy period of under-performance.
Over the three years up to the March 2015 Quarter, inner ring suburbs (suburbs within 16 kilometres of the CBD) have grown 26.7%, with a median price now around $1,062,400.
The middle ring suburbs (16-32 kilometres from the CBD) have increased 29.1% to $695,200. The biggest increase, narrowly, has been in the outer ring suburbs (32-48 kilometres from the CBD), up 29.7% to $494,000.
Sheppard’s chart of growth, quarter by quarter, since early 2012 shows that the outer ring suburbs have the least volatility, with consistent growth quarter by quarter. The middle ring and inner ring areas have both had periods when the median price has dropped, albeit briefly, in the past three years.
These results confirm Hotspotting research which, over many years, has found that the best growth rates occur in the more affordable areas in all our major cities.
When examined over a longer time period than three years, the differences in the growth rates tend to be larger. Top end suburbs are always more volatile markets than the bottom end areas.
People buy where they can afford and the great mass of buyer demand goes to affordable areas, especially those that offer good transport links, good infrastructure generally and proximity to jobs nodes (many big employment precincts are a long way from the CBDs of our major cities).
So when people with $800,000 or $1 million to spend ask me which of a list of upmarket suburbs they should buy in, my answer is usually along these lines: None of the above. If you have the capacity to invest that much, don’t pump it all into one property – buy two or three properties in affordable locations with growth prospects.
The ideal would be three properties in affordable growth areas in three different states.
TERRY RYDER is the founder of <a href="https://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://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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The first mistake many investors make: Terry Ryder

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Do the economists and journalists who attribute Sydney’s busy market to low interest rates ever wonder why other cities aren’t pumping?
Are record low interest rates a secret known only to Sydney residents?
It brings to mind a talk I witnessed two to three years ago by Craig James from CommSec. He commented that economists with skinny knowledge used China as their fallback explanation of everything, when all else failed. Exports are rising? It’s China. The dollar’s high? China. WA’s booming? China. Real estate is strong? China.
He was only half joking.
And currently it’s no joke that economists who understand nothing about residential real estate will use interest rates as their catch-all rationale for elevated activity in Sydney’s market.
The Australian this week was the latest media outlet to fall into the trap with its headline “Rate cut driving home price surge: analysts”.
The article was written by a journalist whose knowledge of real estate markets could be written on the back of a postage stamp in crayon. The headline writer knew even less. And the analysts quoted in the article knew the least of all.
It’s just too easy, almost flippant, to dismiss Sydney’s heightened activity as a factor of low interest rates.
As an explanation, it’s plain wrong.
We’ve had low, low interest rates for a long time now. Yet in the past 12 months, dwelling values have fallen (marginally) in three of our capital cities. Three others have grown less than 3% in annual terms. Another has managed a 5% rise in values. Only Sydney is writing boom numbers.
Why are record low interest rates not stimulating markets around the nation? Why do we not have conditions replicating those from 2001 to 2003, when every capital city delivered double-digit growth for at least two consecutive years?
For the benefit of the uneducated, including the economists, let me translate. It’s nothing to do with interest rates.
A clue to the rise of Sydney markets was contained in the events of last weekend. No, not the auction results. I refer to the election results.
The NSW government last weekend became the first incumbent in years to survive an election with a clear majority. Every other state or federal government has been mercilessly dumped, including Queensland Premier Campbell Newman who managed to squander the greatest landslide majority in the history of politics, or (in the case of the South Australian government) ended up with a hung parliament.
The NSW government was returned because it was judged to be a competent administrator of the state’s finances and fortunes.
The NSW economy – and the Sydney property market – started to turn around when the current Liberal administration won office four years ago.
It defeated the ALP government which, after 16 years in power had become arrogant, complacent, corrupt and downright incompetent. It was undoubtedly the worst government I’ve seen anywhere. Under that appalling regime with its revolving door premiership, nothing was being generated in NSW other than negative headlines. No infrastructure was being built and the economy had stagnated.
Four years ago Adelaide had more infrastructure under development than did Sydney.
With the change in government in 2011, NSW came off life support. It began to recover and then to thrive. Today it has the number one economy in the nation, according to CommSec’s State of the States report. Sydney is alive with massive infrastructure projects, with more in the planning pipeline.
Nothing drives residential property markets like infrastructure spending. The North-West Rail Link, the South-West Rail Link, the NorthConnex Motorway, the M4 upgrade, various major hospital expansions - plus early moves for the Badgerys Creek airport, the WestConnex motorway, the M9 Orbital, the light rail project and others – are front and centre in the revitalisation of Sydney’s economy and property markets.
Many tens of billions of dollars in investment is percolating through the Sydney economy, creating business activity and jobs at a rate not seen in NSW for a decade.
Before all this happened, Sydney was the great under-achiever of Australian real estate. Even with the growth of the past two years, Sydney still has one of the lowest 10-year growth averages among the state and territory capital cities.
Essentially, Sydney has been playing catch-up with long-term growth leaders like Perth, Darwin and Melbourne – and that’s been a significant catalyst to Sydney’s growth.
But, if you heed the nation’s chattering economists, none of that matters. It’s all about interest rates.
TERRY RYDER is the founder of <a href="https://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://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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Sydney's price boom isn't about interest rates: Terry Ryder

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There are few opportunities these days to write anything bullish about the Canberra property market.
All the data suggests prices are stagnating or falling and rents are down significantly, with a 5% annual decline for the median house rent and a 7% fall for apartments.
While Sydney three hours down the road is pumped up by a strong state economy, a big infrastructure spend and the confidence created by competent governance, Canberra is mired in negativity and uncertainty thanks for cuts to the public service and an oversupply of apartments.
But, as is so often the case, there are different stories to be found if you dig beneath the generalised figures about a city.
The Gungahlin precinct is one sector of the Canberra market showing some life. It will benefit in future from the new light rail system, as well as the relocation of 650 public service jobs to that part of Canberra.
The territory's Chief Minister Andrew Barr has confirmed that 400 public servants from ACT Shared Services will vacate Woden this year and head north to Gungahlin.
The move will leave a lot of empty spaces in the Callam Offices complex at Woden, but the biggest impact is likely to be the positive one for Gungahlin – particularly as another 250 public servants will pulled from other areas and relocated to Gungahlin as well. 
The move, taken in conjunction with other unhelpful events, will hurt the economy of Woden and possibly property markets in surrounding areas, which are struggling already.
<a href="https://www.canberratimes.com.au/national/public-service/2015s-perfect-storm-for-woden-will-be-the-public-service-exodus-20150222-13gvdr" target="_blank">The Canberra Times reported</a>: Woden Valley Community Council chairman Martin Miller said the town centre was "probably not prepared" for the departure of so many regular workers.  "The federal public service is decreasing its presence as well – the Department of Human Services was moved to Tuggeranong years ago and the Department of Veterans Affairs is due to move as well," Miller said. "It will have an impact – it's sort of like the perfect storm."
Property markets in suburbs surrounding the Woden Town Centre have been weak performers in recent years. Suburbs like Phillip, Lyons, Hughes and Mawson have median house prices lower than they were three years ago.
They, along with others like Garran, Chifley and Pearce, all have long-term capital growth rates in the 3-4% range, which is poor by national standards.
Where Woden loses, Gungahlin gains. Generally, this precinct of Canberra looks to have better prospects than most in the national capital, helped by the Capital Metro light rail system, which will link Gungahlin to the city centre.
The light rail system is currently in the procurement stages. The ACT government has named four private business consortiums, which will be considered for the construction of the $800 million light rail line.
The targeted travel time from Gungahlin to the city via Northbourne Avenue, the Federal Highway and Flemington Road is 25 minutes. Experience shows that new transport infrastructure can be a game-changer for residential property markets.
The Gungahlin precinct is currently one of the few sections of the Canberra market showing some life. While Canberra prices generally have not grown in the past 12 months, some suburbs in the Gungahlin area have delivered solid increases in median house prices.
They include Palmerston (up 7%), Amaroo (up 5%) and Harrison (up 6%).
Unlike the Woden precinct, suburbs around Gungahlin mostly have values higher than three years ago, though not a lot higher. Amaroo, for example, has grown an average of 4% per year over the past three years.
This precinct also shows up in The Price Predictor Index published by Hotspotting. It has a couple of suburbs listed as Rising Steadily – Palmerston and Nicholls – and others classified as Consistency markets, including Ngunnawal, Franklin and Amaroo.
TERRY RYDER is the founder of <a href="https://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://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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Not all doom and gloom for Canberra: Terry Ryder

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The Real Estate Institute of Queensland (REIQ), unlike its sermonising counterpart in Western Australia, tends not to tell the public what to think about local markets. It just publishes the figures and leaves it to consumers to make their own assessments.
Its latest quarterly Market Monitor is revealing about places that are doing well and those looking a bit pale.
The research figures confirm that Brisbane is rising and that some of the municipalities that make up the Greater Brisbane Area did particularly well in the most latest quarter.
The figures show that regional Queensland has struggled generally over the past five years, but many cities sent out strong recovery signals last year.
That, however, excludes the regional cities saturated by developer excess, like Gladstone and Mackay. And it also excludes the Gold Coast apartment market, which still has numbers that would make a prudent investor cautious.
The REIQ figures suggest Brisbane City (the LGA, not the metro area) house prices rose an average 8.3% last year.
Surrounding municipalities, like Logan City, Ipswich City and Redland City, all rose, but in the 3-4% growth range. But in the latest quarter there were more significant increases, particularly in Ipswich and Logan, suggesting that recent rises in sales activity are starting to translate into meaningful price growth.
On the other hand, unit markets are lukewarm, especially those in the inner-city, subdued by high vacancies. Unit markets in more distant parts of the Brisbane metro area are showing better growth in median prices, notably in the Ipswich, Moreton Bay and Redland LGAs.
The Sunshine Coast has been the best of the regional cities, with a 6.7% annual rise in median house prices. Buderim, consistently the most popular suburb in the region, rose 11% and is one of relatively few Queensland locations which have done well over the past five years (up 25%).
Toowoomba, a regional city we have advocated for several years, is up 22% in five years, including 6.3% last year. Some suburbs rose in double digits.
By contrast, the neighbouring Western Downs region (which includes towns where developers over-built in their efforts to exploit the coal seam gas boom), recorded a 14% decline in its median house price last year. Several towns have very high vacancies, with resources workers accommodated in temporary villages rather than rental houses in the towns.
The Gold Coast numbers are interesting because they contrast the housing markets (which are doing well) with the highrise apartment locations (which continue to stutter).
The Gold Coast City median house price has recorded an annual rise of 6.5%, with a major jump in the most recent quarter. This corresponds with the increase in sales volumes evident over the past 18 months. Most of the markets with the best annual rises are inland housing markets in the Brisbane-Gold Coast corridor, including Helensvale, Ormeau and Upper Coomera (which recorded a 7.4% annual rise in its median price).
But apartment markets continue to struggle. The median unit price for Gold Coast City is still 3.4% lower than it was five years ago. The median price for Surfers Paradise dropped 5.6% last year and remains almost 10% lower than five years ago. Southport’s median is 11.2% lower and Broadbeach remains down 7.5%.
This is what oversupply does to property prices. Keep those numbers in mind when you consider the thousands of apartments to be built in the new mega highrise – and all the marketing hype that will come with it, although most of it will be directed at China.
In similar vein, Noosa’s housing market looks to be showing some growth again but its apartment market is deathly pale. Across the Noosa LGA, the median apartment price remains 8.2% lower than it was five years ago.
At dear old Noosa Heads, that over-rated and ageing beauty queen of Sunshine Coast real estate, the median unit price dropped a further 3.5% last year and is 29% below the levels of five years ago. Repeat, 29% below the prices of 2009.
As I said in a column a few weeks ago, this is Australian real estate’s biggest lemon. Owning real estate there is apt to leave a sour taste in your mouth and bitterness in your bank balance.
The REIQ figures confirm my oft-expressed view that Cairns is back on a growth path, with its median house price up 6% in 12 months and likely to do better this year. Some Cairns suburbs delivered double-digit growth last year.
But central Queensland centres Gladstone and Mackay remain down. Gladstone median house price dropped 11.5% in the past year. But, for those who have owned real estate there long-term, pricing levels for both houses and units remain above those of five years ago, despite the recent declines.
TERRY RYDER is the founder of <a href="https://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://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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The Queensland markets doing well (and those looking a bit pale): Terry Ryder

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Consumers should always treat the words of real estate agents and their representative bodies with caution.
Many of the grubbiest aspects of residential real estate – including dummy bidding at auctions, overquoting to get listings, underquoting to attract bigger auction crowds, and exaggerations or exclusions in advertising – have agency fingerprints all over them, although often<a href="/news/greedy-vendors-the-main-underquoting-cause-reinsw"> agents will try to blame vendors</a>.
As a buyer of real estate over the years, I’ve always been startled at the willingness of selling agents to talk down the price or prospects of a property to make an easier sale.
Here’s an example: “The property’s being sold because of a marriage breakup and they need a fast sale, so if you make a low offer it might be accepted”. Great for buyers, but the vendors would be horrified if they knew what their agents were saying about them and their properties.
Then there are the public statements. Usually these are designed to pump up the market or to influence decision-makers on policy such as stamp duty or interest rates.
It gets to the point sometimes where agency statements should come with a public health warning: Inhaling these words may be damaging to your financial health.
Sometimes, the pubic statements of the agency community have a strange twist, where their words appear counter-intuitive. But when agents deliberately talk down a market, it’s not because they’ve had an epiphany or been struck by lightning. There’s always an ulterior motive.
Here’s a current example. For some months the Real Estate Institute of Western Australia (REIWA) has been bagging the Perth property market.
The general theme is that the market’s in the toilet. Sales volumes are down, vacancies are up, there are too many sellers and not enough buyers, and price decline in inevitable.
In my view, they’re misrepresenting the situation. Perth’s market is not that bad and there are growth pockets across the city.
But there’s been a steady stream of REIWA media releases, all saying very negative things about Perth property. I’d imagine agents all over the city are quietly seething.
But it’s all part of a plan, indeed a concerted campaign. The objective? To condition sellers to accept they have to lower their asking prices.
You might think agents have a vested interest in higher prices. Their commission is a percentage of the selling price. The higher the price, the higher the commission.
But, no, the agency goal is a fast sale. The price doesn’t matter too much. If a property has an asking price of $500,000 and the agency has an offer of $480,000, many agents (not all) will work on the vendor to lower their expectations - rather than do what they’re paid to do, which is work on the buyer to raise their offer.
The difference in commission between $480,000 and $500,000 is not much, but it’s $20,000 of difference to the vendor.  Many agents (not all) will represent their own interests above those of their clients, the vendors.
Agents want vendors to have low price expectations, because it makes it easier to sell and earn commissions.
Hence the deliberate and persistent campaign by the REIWA to talk down the Perth market. As they see it, the Perth has had a couple of good years but is past its peak and now heading south. It’s going to be a tough market in which to operate as agents. They need to soften up vendors.
It’s a very dangerous tactic. The message they’re sending, whether they realise it or not, is that no one should be buying in Perth at the moment. According to the institute, the market’s falling and prices will decline. No one wants to buy and find that their property is worth less six months later.
But they’re pursuing their campaign nevertheless. In the latest episode, the REIWA declares that Perth is over-supplied with sales and rentals. This is not good news for owners, because nothing depresses values like a surplus.
This week’s media release says there’s been a 210% increase in rental properties available in the market since 2012. The vacancy rate is above 4%. Over-building has created oversupply, according to the REIWA. The city’s median house price dropped $5,000 last month and it’s now taking much longer to sell properties.
“With this large supply of homes for sale and rent, it’s likely we will see negligible price growth across 2015 and a fairly slow market for those selling property or looking for tenants,” says REIWA president David Airey in the media release.
What on earth are they playing at, being so negative? The answer comes in the next paragraph. “It is essential that sellers and owners listen closely to the advice of their selling agents and property managers to ensure the right marketing and pricing in what will prove to be a very competitive environment,” Airey said.
That’s right, folks, you need to drop your asking prices and rents.
As I’ve often said, real estate is run by narcissists - and the loudest noise in property is always the voice of vested interest.
TERRY RYDER is the founder of <a href="https://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://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
You can also read David Airey from REIWA response '<a href="/expert-insights/there-is-no-conspiracy-in-reiwa-market-commentary-david-airey">There is no conspiracy in REIWA market commentary</a>'.
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Caution - inhaling real estate agent's words may be dangerous to your financial health: Terry Ryder

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The anguish - in some cases, outrage - expressed in media about the so-called national property boom verges on farcical.
The tone and content of media coverage implies that Australia is having the mother of all property booms and that the situation has gone beyond reason.
There are frequent calls for regulatory action to prevent a disaster: stop foreign investors, eliminate negative gearing, clamp down on lending to local investors, discard any measures to help first-home buyers because they’ll just pump up prices and make a bad situation worse.
All this near-hysteria is predicated on the notion that we have a runaway national property boom, from which the only possible consequence is economic disaster.
Time to take a cold shower, a few aspirin and a wee lie down - then a reality check.
We don’t have a national property boom. Current conditions are mild in comparison to bull markets of the past. Even Sydney’s recent experience is tame compared to the genuine national property booms Australia has experienced.
The last time Australia had a nationwide bonanza was the period from 2001 to 2004. During that period prices went sharply north in every capital city, with three years of double-digit growth.
The average price growth in the capital cities in 2001 was 15.5%. In 2002 was 18%. The following year it was 19%.
Compare that to 2.1% in 2012, 9.8% in 2013 and 7.1% in 2014, according to Domain data.
Back in 2001, there were headlines every week depicting a national crisis. Prices had gone mad, no one could afford to buy any more and it was all headed for a crash. The word “bubble” appeared daily in headlines.
But prices grew considerably more the following year and even more the year after that.
When it finally ran out of steam in 2004, there was no crash. There was a 3% average rise in capital city prices that year and a 2% increase in 2005.
Hundreds, if not thousands, of headlines throughout the years from 2001 to 2004 predicted disaster as a result of the boom, with home values “plummeting”. It simply did not happen.
Many claimed the Great Australian Dream was dead because young adults could no longer afford to buy (yes, we’re reading the same headlines today, a dozen years later).
This was particularly so in Sydney, after price growth averaging 17% in 2001, 22% in 2002 and 16% in 2003. Yet in the next decade, half a million first-home buyers bought dwellings in NSW, the bulk of them in Sydney.
The headlines today are even more extreme, despite the reality that current market conditions are mild by comparison to the early noughties. There are claims that Sydney prices are unsustainable after the growth of 2013 and 2014 - and therefore the market must fall this year.
But there is no sign of any decline in market activity across the Sydney metropolitan area. Sales activity remains elevated and clearance rates strong. And price growth rates so far in this cycle are lukewarm relative to events 10-12 years ago.
Keep in mind, also, that Sydney is the only capital city to achieve double-digit price growth in the past two years. In 2003, every city had growth above 12%, including extraordinary rises in Brisbane (35%), Canberra (25%), Adelaide (24%), Perth (22%) and  Hobart (21%).
Last year, growth in those cities was Brisbane 5%, Canberra -1%, Adelaide 4%, Perth 2% and Hobart 3%, according to Domain data.
There’s no national boom in those figures. Economists keep telling us we have one, because they think we ought to have one, because interest rates are so low. And in the simplistic mindset of your (very) average economist, it’s all about interest rates. If rates are at record lows, there must be boom price growth everywhere. And if the figures don’t show that, the figures must be wrong.
God help the nation is anyone starts listening to these turkeys.
Many of our chattering economists need to take time out to study real estate and the elements that drive prices. In most cases, interest rates are of minor importance only.
We have had an extended period of record low interest rates but only one major market has boomed. There’s a message there that even an economist should understand.
TERRY RYDER is the founder of <a href="https://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://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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Reality check  - we don’t have a national property boom: Terry Ryder

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There will always be property “professionals” willing to stand up and declare that the prime inner city suburbs are not only the best places to buy, but the only places to buy.
They will sit down only if someone asks them for some hard evidence to support their claims. Through decades of observing people with a vested interest or a bad case of real estate snobbery claiming so-called prime property has the best growth rates, I’ve never seen anyone back it up with research.
My own research contradicts the claims of the supremacy of “prime” property. The top end markets never produce the best long-term capital growth rates. In most of our capital cities, the lists of best suburbs for long-term growth are dominated by the affordable end of town.
For affordable, read downmarket. Across Australia right now, there are downmarket locations on strong growth paths. The number one market in the nation, according to Hotspotting research for The Price Predictor Index, is Logan City.
I wrote at length about this area last month. In discussing the general prospects for South East Queensland, I wrote: “There are myriad options but one that I particularly fancy is the unheralded (indeed often maligned) municipality of Logan City. The local council sees it as a strategic “city between two cities” because Logan bridges the gap between Brisbane City and Gold Coast City. It’s a municipality of 60 mostly affordable suburbs and collectively they are a nice fit for my core formula of affordability + infrastructure + jobs = price growth.”
Since then our research has found that Logan City has more suburbs with rising sales activity than any other municipality in Australia. Four Logan City suburbs make our national Top 30 list for suburbs with seriously forward momentum.
In Sydney, there are growth markets spread across the metropolitan area, some top end, some middle market and some bottom end. One that stands out as a market trending rapidly north is the Campbelltown LGA. Together with neighbouring Camden, it forms the single strongest precinct in metropolitan Sydney at the moment.
Other Sydney markets that continue to be strong include the local governments areas of Penrith, Blacktown and Liverpool.
Adelaide continues to fly under the radar of most investors, but the city is rising steadily – indeed, has been for the past 12-18 months, in terms of sales volumes. Towards the end of last year, we saw the first signs of that translating into price growth.
Within Adelaide, the number one area is the Salisbury municipality, which has more grown markets than any other precinct in the South Australian capital. The Salisbury LGA is about as downmarket as you can get, anywhere in capital city Australia.
The other standout markets with rising activity in Adelaide are all bottom-end precincts or middle market areas.
The generalised numbers for Perth depict a market that is stagnating or going into mild reverse. But beneath of the citywide statistics there are numerous sub-markets with growth trajectories. They are mostly bottom end affordable areas, like Wanneroo in the far north, Armadale in the south-east and Rockingham in the south-west. One or two are middle-market areas.
Last week I wrote that <a href="/news/vic/melbournes-middle-ring-leading-the-way-terry-ryder">middle Melbourne is leading the way</a> in residential property in the Victoria capital. But there are also several bottom end precincts with strong growth momentum. They include the municipalities of Epping in the north, Casey in the far south-east and Brimbank in the west.
That’s not to say there are no top end areas doing well in capital city Australia. In addition to the rise of affordable precincts a long way from the CBD, Sydney has a number of buoyant areas among the million-dollar-median suburbs. The numbers suggest that the millionaire suburbs surged in 2013, peaked in the December quarter of that year, subsided somewhat in the first half of 2014 but staged a marked sales revival late in 2014 and early in 2015.
Another standout is inner city Sydney. The Sydney City LGA includes a dozen highly-active suburbs, predominantly with sales of apartments.
But the good news for investors on a budget is that most of the growth markets in our cities are the cheaper ones.
TERRY RYDER is the founder of <a href="https://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://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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Good news for investors on a budget - the best growth markets are the cheaper ones: Terry Ryder

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One of the enduring myths of real estate is that iconic tourism markets are great places to buy real estate.
The Australian, which consistently provides real estate coverage awash with misinformation, this week added to the pile of misconceptions by publishing a glowing eulogy to the property market in Noosa, which I regard as Australia real estate’s biggest lemon.
Noosa Heads has been a dreadful performer on capital growth and still has pricing levels well below those of 10 years ago.
At the same time, I’ve had some inquiries from people thinking of buying in another of Australia’s iconic duds, Byron Bay.
Noosa and Byron Bay have a problem in common. They both have economies based on tourism and retirement, which are fragile and volatile factors not helpful to real estate markets. Locations like these seldom deliver good price growth.
This is a problem for seaside communities along the east coast of Australia. When you add unit oversupply to the mix (a la the Gold Coast), you have a recipe for real estate under-achievement.
It’s only when tourism economies diversify through infrastructure spending and active encouragement of new industries, that their real estate markets start to perform. Current examples of tourism economies undergoing evolution are Cairns, Port Macquarie and the Sunshine Coast. These are all transition economies which are now producing strong property markets with prices rising strongly.
But isn’t Noosa on the Sunshine Coast, I hear you ask. It is, but it’s a long way from the action that is turning things around for this region.
The game-changing activity for the Sunshine Coast – such as the $2 billion hospital and all the medical-related projects springing up around it - is all happening in the central and southern portions of the region. Noosa languishes on the far northern fringe of the Sunshine Coast and essentially remains what it has always been - a stuttering struggling tourism and retirement enclave, with an under-performing real estate market.
The long-term capital growth rate for Noosa Heads apartments is -2.8%. That means that, over the past decade, the median unit price has dropped by an average of 2.8% per year. And that means pricing levels today are well below those of 2005. I can’t find a significant real estate market anywhere in Australia with a worse record.
For Noosa Heads houses, the long-term growth average is -0.2% per year. That’s not as bad as units, but it does mean that pricing levels are still lower than they were 10 years ago.
None of that was mentioned in the article in The Australian, which claimed that Noosa Heads prices are “set to go north”. Why did they think so? Because a line-up of Noosa real estate agents said so. The article read like a press release commissioned by the agents with a strong vested interest. This is what passes for journalism in the country’s national newspaper.
Noosa Heads and Byron Bay have another problem in common, other than their brittle tourism economies: they both have beaches that tend to vanish on a regular basis. Byron’s image has been damaged in recent years by ongoing coastal erosion events which have threatened the existence of seaside homes and forced governments into controversial and expensive solutions.
In the Byron Bay market at the moment, it takes on average seven months to sell a house and 10 months to sell an apartment – and then only if you’re willing to discount your asking price 9-10%.
The long-term capital growth average for Byron Bay houses is a tad above 2% per year. In real terms, property is worth less than it was 10 years ago.
Over the past decade, Byron Bay has had several periods of major price decline. Prices dropped 10% in 2009 and around 15% in 2012.  Between 2008 and 2013 there was only a brief period when prices were (marginally) above the red line.
Somehow, locations like Byron and Noosa continue to command a special place in the minds of people who see them as wonderful places to invest. Trust me, they’re not.
Terry Ryder is the founder of <a href="https://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://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
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Good tourism spots do not make great investments: Terry Ryder

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Middle Melbourne is leading the way as the Victorian capital continues to produce growth property markets right across the metropolitan area.
Melbourne isn’t getting the same headlines as Sydney, nor has not produced the same level of price growth, but it continues to present as a solid property market, with few signs of decline.
Our research for the latest edition of The Price Predictor Index shows there is momentum rippling through markets in all sectors.
There are strong precincts north, south, east and west of the CBD. Indeed, under the Index ranking system Melbourne has more notable markets than Sydney, with 12 Rising Fast, 118 Rising Steadily and 88 Consistency markets.
The market segment that stands out the most is “middle Melbourne”. There are several middle-ring precincts with mid-range prices (a tier below the million dollar median suburbs of the inner south-east) that are clear market leaders.
Melbourne’s up-cycle began in 2013 with the inner-city and the prestige suburbs of the inner south-east. But in 2014 the momentum spread increasingly to the middle-ring and outer-ring suburbs.
The middle market that deserves the title as leading growth area in Melbourne is the Whitehorse LGA, east of the Melbourne CBD. It has three Rising Fast suburbs and 10 rated as Rising Steadily. They include Nunawading (median price $690,000), Burwood East ($780,000) and Blackburn South ($780,000).
The Darebin municipality in the mid north is another rising middle-market precinct, with two Rising Fast suburbs – Preston ($660,000) and Reservoir ($520,000) – and two Rising Steadily suburbs.
Also prominent is Monash City with one Rising Fast suburb and seven Rising Steadily ones. Mount Waverley ($930,000) in the Monash LGA is one of the most upwardly-mobile suburbs in the nation, with sales per quarter rising from 134 to 177 to 191 to 246 throughout 2014.
The Kingston LGA, which includes middle market suburbs such as Cheltenham ($690,000) and Parkdale ($760,000), continues to emerge. It has one Rising Fast suburb, five Rising Steadily markets and four Consistency markets.
Cheaper areas further from the CBD are also thriving in the current cycle. The Casey LGA in the south-east has eight growth markets, including Endeavour Hills ($430,000) and Hampton Park ($350,000). Nearby, the Greater Dandenong and Frankston LGAs also have growth markets.
Whittlesea in the north is a strongly emerging precinct: it has one Rising Fast suburb and five Rising Steadily markets. Sales in Mill Park have been 70, 98, 90 and 140 in the past four quarters. The key feature in this precinct is affordability, good transport links and major jobs nodes.
The Brimbank LGA in the western suburbs continues to stand out. It has six Rising Steadily suburbs and eight Consistency markets. Again, it’s the power combination of affordability, infrastructure and jobs nodes that is driving this precinct.
Momentum in the Melbourne area spreads down to the Mornington Peninsula in the far south, where there is one Rising Fast market, three Rising Steadily suburbs and nine Consistency markets.
Upmarket areas such as the Boroondara LGA and the Glen Eira LGA feature, but most of the standout precincts are middle-market and bottom-end suburbs. This is where we expect to see the most price growth in 2015.
TERRY RYDER is the founder of <a href="https://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://www.twitter.com/hotspotting" target="_blank">Twitter</a>. 
 
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