Units

<html><body>
Canberra and Adelaide sit among the crowded regional cities appraised as being at the bottom of the market on the latest HTW unit property clock.
The valuation firm, Herron Todd White has issued its latest July 2015 property clock - a simple broad brush means to suggest where property markets are - and what direction prices are moving in.
The valuation firm has included capital and regional cities on the property clock for unit price direction.
The valuation firm also issued the property clock for <a href="/expert-insights/buying/44053-dubbo-newcastle-and-gippsland-at-peak-pricing-in-july-htw-property-clock" target="_blank">house price direction</a>.
<a href="/images/2015/07/14/700_clock.jpg" target="_blank">Click to enlarge</a>
<img src="/images/2015/07/14/700_clock.jpg" alt="">
 
 
 
</body></html>

jchancellor-FAypfDUnLy

Canberra in crowded bottom of the market on HTW July unit property clock

<html><body>
Historically Sydney embraced apartment living relatively early, in many inner suburbs there are examples of apartment buildings dating back to the 1930’s. Sydney’s appetite for apartment living has increased steadily ever since and this has resulted in a diverse stock of medium and high-density apartments to a greater extent than Melbourne.
Sydney has also alone successfully grown an urban landscape to become a ‘city of cities’ while the City of Sydney has long promoted the idea of a ‘city of villages’.
The evolution in high-density living and the continued growth of our varied urban centres has combined to help produced a rich and increasingly diverse apartment market. With each area offering interesting, diverse and appealing communities and neighbourhoods, as a result new apartment projects have also evolved in design and size to fit these different ‘cities’ and ‘villages’.
It’s a pattern of development that in Australia is unique to Sydney, much more so than Melbourne and with apartment living only going to increase, this extent of diversity appeals to many developers and buyers. It enables varied cultural outcomes to evolve and so makes each area more engaging and exciting.
One result is that we see architectural variety clearly responding to the different geographic and cultural markets that have developed. This also adds character to the city and creates different neighbourhoods that appeal to buyers.
City of Cities
Unlike Sydney, no other Australian city has developed the number of major high-density satellite centres such as Parramatta, Auburn, Bankstown, Bondi Junction, North Sydney and Chatswood.
This pattern of development is not surprising given the growing proportion of people living in high density housing. In 2001 one in seven (15.7%) of Sydney dwellings were classified as high density, by 2011 that had increased to 20.7%, today the figure is close to 30% and growing.
The highest proportions are located in the City of Sydney (70.2%) with the CBD (94.3%), and then followed by North Sydney (60.8%), Waverley (49%) and Woollahra (46.4%).
The appeal of these ‘satellite centres’ locations is somewhat surprising, as Parramatta, Bankstown and Auburn are all located some 20kms from the CBD, while Chatswood and Bondi Junction are within 10kms, which is often seen as the limits of the definition of inner-city.
However Parramatta is a great example so much so that recently a $2 billion proposal to rejuvenate its commercial hub was announced. And like Chatswood a strong high density residential market will be a key part of future plans.
City of Villages
In the 1950’s the idea of a CBD, as a district devoted to business did result in some areas becoming somewhat isolated from the wider community, and this historically residential development. Now that thinking has been reversed. Today the City of Sydney (along with most other cities) is one of the most dynamic high-density residential markets.
Taking on the idea of a series of villages, in part reflects international trends, but it’s a very positive way to help encourage and sustain residential areas and individual developments with wide appeal.
The City of Sydney has identified 10 villages, and these include the CBD and Harbour, Chinatown/CBD South, Green Square/City South, King &amp; Harris Streets, Oxford Street and Redfern Street.
With the village plan actively promoted, when we think of marketing and development goals we can see from various consultations how residents would like to see the area’s villages evolve.
What is interesting and perhaps not that surprising is that many of the key points residents look to encourage would be an exact check list for any successful development to address, including;
<ul>
<li>developing a sense of community</li>
<li>improving public transport (plus encouraging bike riding and walking)</li>
<li>supporting local services and businesses</li>
<li>solving parking problems</li>
<li>‘greening’ streets and neighbourhoods</li>
<li>promoting safe and clean public places.</li>
</ul>
For residents the idea of a City of Villages is appealing, however to meet the needs of a modern economy the long-term planning for any city needs to accommodate commercial growth and all of the associated services. Today we also see that a mix of development, including a range of residential projects clearly helps to enhance and create a more vibrant city.
As Sydney continues to grow as a ‘City of Cities’ we will continue to see further urban consolidation, much of which is based around transport connections. People and planners are attracted to existing suburbs and so the idea of a ‘City of Villages’ also makes sense, the idea allows for sensitive development while retaining local character.
Sydney’s supply of land, in particular land with reasonable access to services and employment is very limited and so both these trends are set to continue, and I think make a positive contribution to our urban environment.
Peter Chittenden is managing director for residential of Colliers International. He can be contacted <a href="https://www.projectagenda.com.au/" target="_blank">here</a>.
</body></html>

pchittenden-eLqUUC8TWW

City of cities, city of villages: Peter Chittenden

<html><body>
Unit rents in Sydney and Melbourne continue to fall reflecting continued high vacancy rates notably in inner city and CBD markets that are under pressure from sharply reduced demand and surging supply particularly from previous holiday accommodation now converting to the permanent market. Conversely house rents are on the rise Indicating perhaps Increased demand for larger, outer suburban homes.

Sydney average asking rents for units fell by 2.3% over November but rents for houses Increased sharply by 2.5%. Perth rents continue to rise for both houses and units. Capital city rental markets continue to report diverging results with significantly lower and falling vacancy rates for houses offset by higher rates for units. This reflects sharply falling demand and increased supply of units - particularly in inner-city Sydney and CBD Melbourne.

HOUSE AND UNIT RENTAL VACANCY RATES 

Reflecting rent declines In the unit market, vacancy rates continue to Increase In Melbourne and Sydney - remaining at record levels. Vacancy rates for houses are significantly lower in all capitals by comparison with units and likely to continue to place upward pressure on rents.

HOME LOANS 

ABS home lending data reported another Increase over October with owner-occupier loans continuing at unprecedented levels. Total residential lending increased by 1.1% over October and has risen by 16.8% over the first 10 months of this year compared to the same period In 2019. All buyer types reported increases over October however, remarkably, lending for first home buyers now exceeds that reported for Investors. All states, with the exception of Victoria reported Increases In the total value of housing loans approved over October. Similarly, only Victoria failed to record an Increases In first home buyer lending over October, falling by 5.9%.

Although lending for first home buyers has surged this year driven by numerous state and federal government Incentive policies, levels remain well below those recorded during the post GFC revival period In 2009-10. Lending for new home building continues to be a significant contributor to the recent surge In home lending reflecting In particular the Impact of the recently extended federal government HomeBuilder policy.  Victoria continues to clearly record the highest number of loans for home building followed by QLD and WA.

HOME BUILDING 

The surge In lending for home building Is also been reflected In rising house building activity over recent months. Latest ABS building approvals for October were however lower in Sydney and Melbourne over the month but significantly higher In Brisbane and sharply higher In Perth.  Despite recent rises In home building approvals, underling levels, particularly for units, remain well below previous peak levels.
</body></html>

Unit rents in Sydney and Melbourne continue to fall reflecting continued high vacancy rates notably in inner city and CBD markets, according to Archistar's Chief Economist Andrew Wilson.

urban.com.au

Unit rents continue to fall across Melbourne and Sydney

<html><body>
Sydney Olympic Park has experienced the biggest stock increase in Australia over the past year.
Investar suggests its sales stock has grown by 189%, from 37 units this time last year to its current 107 offerings. 
Click here <a href="https://www.propertyobserver.com.au/images/2018/4/5/sydney%20olympic%20park.jpg" target="_blank">to enlarge.</a>
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/5/sydney%20olympic%20park.jpg" alt="">
A two bedroom apartment has been listed for sale with a price guide of $768,000 to $784,000 (pictured below).
<a href="https://www.realestate.com.au/property-apartment-nsw-sydney+olympic+park-127730742" target="_blank">The 612/1 Australia Avenue apartment</a> features two spacious bedrooms, gourmet kitchen with stone bench top and two appointed bathrooms.
Extra features include split system air conditioning, building video security intercom, and secure parking.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/5/6121%20australia%20avenue.jpg" alt="">
Another Australia Avenue two bedroom apartment was sold for $709,000 last year (pictured below).
Located on the fifth floor of the near new Australia Towers building, the <a href="https://www.realestate.com.au/sold/property-apartment-nsw-sydney+olympic+park-126172790" target="_blank">501/7 Australia Avenue</a> apartment comes with 99 square metre living space, stone top kitchen with European appliances, and secure car park.
Positioned in the heart of Sydney Olympic Park, it is mere footsteps from the park’s world-class sporting venues, train station and restaurant precinct.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/4/5/5017%20australia%20avenue.jpg" alt="">
</body></html>

j.ballantyne1990-6AQqhLzZaK

Sydney Olympic Park experiences big stock increase

<html><body>
A block of units in the heart of Mosman is on the market with the price of $550,000. 
It has been offered by David Cotton from Fidelity International.
Sitting on a 730 square metre block of land, the four separate two bedroom units at<a href="https://www.realestate.com.au/property-unitblock-qld-mossman-117151079" target="_blank"> 6 William Street </a>features solid construction, high ceilings and retro style architecture.
There are two apartments located on the first floor and two top floor apartments that are accessible via an internal stair case.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/15/mossman%202.jpg" alt="">
The units are all currently rented out between $190 to $200 per week.
It is located directly across the road from the school and only 100 metres to the main street. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/15/mossman%203.jpg" alt="">
With the growing demand for rental properties in the area, these prices have the potential to increase on the next rent review.
There is a lot of potential in renovating and increasing the value of the property.
</body></html>

Mosman block of apartments hits the market

<html><body>
The housing markets in Melbourne and Sydney are on a downward trend, according to the valuation firm Herron Todd White.
The last few months Herron Todd White suggested Sydney and Melbourne have been declining due to the impacts of COVID-19, but now they have deemed houses and units in Sydney are now classified as a declining market rather than one just starting to decline, suggesting they have been hit harder than Melbourne.
To enlarge the national property clock for houses, <a href="https://www.propertyobserver.com.au/images/2020/8/11/HTW%20August%20Clock%20RESI.JPG" target="_blank">click here</a>.
<img src="https://www.urban.com.au/images/2020/8/11/HTW%20August%20Clock%20RESI.JPG" alt="">
There has been no movement across the housing and unit markets at the peak of market position this month, HTW found.
However there has been some minor shuffling in markets nearing the bottom or starting to recover.
They noted, "many regional property markets remain resilient due to low/nil infection numbers, with CBD accessible lifestyle regions gaining appeal."
"Multi-residential investments (e.g. flats) hold excellent promise across many markets," they added.
To enlarge the national property clock for units, <a href="https://www.propertyobserver.com.au/images/2020/8/11/HTW%20August%20Clock%20UNIT.JPG" target="_blank">click here</a>.
<img src="https://www.urban.com.au/images/2020/8/11/HTW%20August%20Clock%20UNIT.JPG" alt="">
"Affordable housing and granny-flat construction in Western Sydney looks promising."
"Town planning changes in Kyogle and surrounds are opening up small development opportunities"
"Queensland property positions itself as an appealing post-pandemic alternative for southern investor."
"New construction is gaining momentum in some centres on the back of government stimulus, plus in Perth, transaction numbers rose, and vacancy rates fell due to low infections," HTW concluded.
</body></html>

Sydney residential market hit harder than Melbourne: HTW Residential Clock

<html><body>
Many are speculating that Queensland will be the next big growth market for units, with unit rental yields sitting as high as <a href="/expert-insights/investing/30547-the-top-suburbs-for-unit-rental-yield-around-the-country?utm_source=Property%20Observer%20List&amp;utm_campaign=853d57739e-24_April_2014&amp;utm_medium=email&amp;utm_term=0_a523fbfccb-853d57739e-245307789&amp;start=5" target="_blank">11.5% in some parts of the state</a>. 
But just how well priced are Queensland’s units? Brisbane and Gold Coast’s median unit price was $359,000 for the March quarter. Property Observer looks at the March quarter’s sales to see just what went for Brisbane and the Gold Coast’s median unit price.
<ol>
<li>
<a href="https://www.realestate.com.au/property-apartment-qld-broadbeach-115734699" target="_blank">2/31 ARMRICK AVENUE, BROADBEACH</a>  <img src="/images/2014/05/01/whale%20beach_0003_4.jpg.jpg" width="800" height="600"> This two bedroom, two bathroom ground floor unit in the Gold Coast sold for $360,000. The apartment is tiled throughout and includes a large balcony for outdoor entertaining. Part of a small five unit complex, Unit 2 attracts $34 per week in body corporate fees. Sale price: $360,000 Bedrooms: Two Travel to CBD (Gold Coast): Walking distance 
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-qld-nundah-115662756" target="_blank">3/29 OLIVER STREET, NUNDAH <img src="/images/2014/05/01/nundah.jpg" width="800" height="600"></a> Vendors purchased this two bedroom unit in 2009 for $347,500, selling it five years later for $357,000. The unit has two bedrooms and bathrooms, with a balcony entertaining area. Nundah, eight kilometres north east of the Brisbane CBD has seen significant gentrification in recent years. Sale price: $357,000 Bedrooms: Two Travel to CBD (Brisbane): 14 minute drive
<a href="https://www.realestate.com.au/property-unit-qld-nundah-115662756" target="_blank"> </a>
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-qld-toowong-115601139" target="_blank">3/9 CADELL STREET, TOOWONG <img src="/images/2014/05/01/toowong.jpg" width="800" height="600"> </a> A two bedroom apartment in this eight unit complex sold for $360,000 earlier this year. The unit attracted a price well below the median for units in the suburb, which sat at $439,000 last month. Within walking distance to the train station, the apartment has carpeted bedrooms and tiled living areas. Sale price: $360,000 Bedrooms: Two Travel to CBD (Brisbane): Six minute drive
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-qld-new+farm-116283803" target="_blank">11/229 MORAY STREET, NEW FARM <img src="/images/2014/05/01/new%20farm.jpg" width="800" height="600"> </a>This newly renovated one bedroom apartment in New Farm sold for $350,000. Its modern interiors are of a superior quality to the other units featured on this list, but this apartment has only one bedroom, with 55 square metres of total floor space. The air conditioned unit is situated in a two storey complex, and in April 2013 was advertised to rent at $370 per week. Sale price: $350,000 Bedrooms: One Travel to CBD (Brisbane): Nine minutes drive<a href="https://www.realestate.com.au/property-unit-qld-new+farm-116283803" target="_blank"></a><a href="https://www.realestate.com.au/property-unit-qld-new+farm-116283803" target="_blank"> </a><a href="https://www.realestate.com.au/property-unit-qld-new+farm-116283803" target="_blank"> </a>
</li>
<li>
<a href="https://www.realestate.com.au/property-unit-qld-woolloongabba-116091847" target="_blank">6/25 REIS STREET, WOOLLOONGABBA <img src="/images/2014/05/01/wooloongabba.jpg"> </a>
This Woolloongabba two bedroom apartment was sold in February for $360,000. It was purchased by the vendors for only $10,000 less in 2009. Two kilometres from the Brisbane CBD, Woolloongabba has a relatively dense apartment market due to its proximity to the Brisbane CBD and the opportunity to capitalise on river views. The median unit price in Woolloongabba was $410,000 for March. 
Sale price: $360,000 Bedrooms: Two Travel to CBD (Brisbane): Five minutes drive
</li>
</ol>
</body></html>

jrichardson-uRX5hFdKfN

What can buyers get for Brisbane and the Gold Coast’s median unit price?

<html><body>
Sydney’s most affordable property reported sold at weekend auction was a one bedroom apartment in Narwee, in the southern suburbs.
The top floor 5/33 Graham Road unit sold for $325,000 <a href="https://www.domain.com.au/property/for-sale/apartment-unit-flat/nsw/narwee/?adid=2011409446" target="_blank">through L.J Hooker Riverwood</a>, according to Australian Property Monitors, under instruction from NSW Trustee &amp; Guardian.
The 1986 block's last and highest previous sale was $319,000 when a one bedroom apartment sold earlier this year, and then was put up for $310 a week rental. Based on these figures the sale would reflect a yield of about 5%.
The median price for an apartment in <a href="https://www.urban.com.au/property-observer" target="_blank">Narwee</a> is currently $421,000, which is a down from last year's price spike of $550,000 an apartment.
The median asking rent for apartments in Narwee is currently $380 a week, according to RP Data. 
</body></html>

andreadixon-oif3j7eKne

Narwee one bedder Sydney's cheapest auction sale

<html><body>
The latest statistics from Onthehouse/Residex for August growth paint an interesting picture of the disparity of unit prices across the country.
Here are Australia’s regions and cities, from lowest to highest for median unit value.
Tas Country
$201,500 SA Country
$228,000
Hobart
$259,500
Vic Country
$261,000
Adelaide
$305,500
WA Country
$310,000
QLD Country
$315,000
NSW Country
$323,000
Brisbane
$369,000
ACT $403,500
NT $403,500
Darwin
$433,500
Perth
$455,000
Melbourne
$461,500
Sydney
$582,500
Source: Residex
</body></html>

Units

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Units

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News