Property Investors warned now is a ‘critical’ moment to secure an investment property before Christmas, while prices still remain affordable…

Dear Fellow Property Investor,

Melbourne home buyers have been warned it’s a “critical moment” with just days left to secure a home before Christmas.

Property experts are advising to “seize the opportunity now”, with Melbourne offering some of the most competitive deals nationally.

However, experts are warning a potential interest rate in the new year will bump up prices.

With 1369 properties slated for auction it is expected buyers will remain very much in control.

PropTrack senior economist Paul Ryan said Melbourne’s auction clearance rate from last week sat at a steady 58 per cent, “signalling a strong buyer’s market”.

“Buyers are feeling confident, playing sellers off against each other in hopes of securing favourable deals,” Mr Ryan said.

“As we hurtle towards the New Year, with over 1300 auctions set for this weekend, Melbourne buyers face a critical moment to get into the market now.

“Those buyers who capitalise on the current surplus of stock are likely to secure homes before the market activity drops over the Christmas period.”

Buyers advocate Cate Bakos said the amount of homes on the market presents a “golden opportunity” to wrap up the perfect pre-Christmas gift – a new home.

“We’ve had the most stock on the market since October 2012 – so from a supply and demand point of view it’s perfect for buyers,” Ms Bakos said.

“As we get closer to Christmas buyers will get wrapped up in their plans and their attention span won’t be focused on property shopping.

“From a vendors perspective they might want to sell their properties before Christmas for financial reasons.”

So let me ask you a question…

Do you have a game plan for 2024 and for 2025? 

Or will you watch savvy, educated, market-ready investors snap up all the bargains at the recovery phase of the Melbourne property cycle (which, in my opinion, is RIGHT NOW!)

Or, will you join them? 

The choice is yours!

So, what are you waiting for?

Reserve your place and join me and 55 like-minded property investors for the final Real Estate Investing Fast Track Weekend for 2024!

Click HERE to reserve your seat now!

Dear Fellow Property Investor,

Australian home prices have surged to new heights in October, marking the 22nd consecutive month of growth despite ongoing affordability challenges.

National home prices increased by 0.26 per cent in October, with the combined capital cities now up 5.85 per cent over the past year.

Melbourne emerged as the strongest performer among capital cities, with prices jumping 0.49 per cent after six months of decline.

REA Group Senior Economist, Eleanor Creagh said price falls have started to reverse in Melbourne, with buyers out in force for the peak of spring selling season.

Here are some of Melbourne’s best performing suburbs in the September quarter of 2024;

Interested in getting educated on Australian property investing?

Reserve your place and join me and 55 like-minded property investors for the final Real Estate Investing Fast Track Weekend for 2024!

Click HERE to reserve your seat now!

Are you thinking of buying Melbourne Investment Properties in 2024 whilst they are still cheap?

Remember that not all Melbourne property is created equal; you need to know where to buy, what to buy, and which suburb represents the best value for money!

Dear Fellow Property Investor,

Australia’s housing market has had a mixed start to spring, but PropTrack data has revealed a number of suburbs around the country that have seen massive growth over the past 12 months.

The data looked at Melbourne suburbs with at least 100 sales for the year, revealing that some areas had experienced boom-like growth cycles.

Melbourne’s housing market shows resilience with significant growth in suburbs like Ivanhoe, Diamond Creek, and Coburg North. Ivanhoe leads the housing growth, while Blackburn, Box Hill, and Surrey Hills witness strong unit growth driven by overseas interest and skilled migrants.

Melbourne’s market has faced unique challenges, including unfavourable investment taxation and changes to tenancy laws making investment properties less attractive.

Leading house price growth over the last 12 months was Ivanhoe (17.3 per cent), Diamond Creek (13.2 per cent) and Coburg North (12.8 per cent).

Blackburn (22.1 per cent), Box Hill (11.1 per cent) and Surrey Hills (11 per cent), led unit growth.

“With higher interest rates, we’ve seen sales at higher price points and a higher turnover in the top quartile.

“With units, Blackburn, Box Hill, and Surrey Hills have all seen significant overseas interest, especially since the Covid lockdowns – skilled migrants have been arriving in these areas and the hospital precinct.“

So let me ask you a question…

Do you have a game plan for 2024?

Or will you watch savvy, educated, market-ready investors snap up all the bargains at the recovery phase of the Melbourne property cycle (which, in my opinion, is RIGHT NOW!)

Or, will you join them?    

The choice is yours!

So, what are you waiting for?

Reserve your place and join me and 55 like-minded property investors for the first Real Estate Investing Fast Track Weekend for 2024!

Click HERE to reserve your seat now!

Dear Fellow Property Investor,

Did you know that Tax depreciation is the key to increasing cash flow on your investment property?

Every residential property investor should have a tax depreciation schedule to substantiate and claim maximum deductions.

As the owner of a residential investment property, claiming depreciation deductions can make a big difference to your cash flow.

Of all the tax deductions available to property investors, depreciation is the second largest deduction available after interest.

Both new, and old residential investment properties have substantial depreciable value. On average, BMT finds residential investors an average of over $11,000 in deductions in the first full financial year, and more than forty thousand dollars, in the first five years.

What is tax depreciation?

Tax depreciation is a tax deduction claimed for the natural wear and tear of an income-producing building and its assets over time. It is generally the second biggest tax deduction for property investors, after interest.

Who can claim?

Tax depreciation deductions are available for both residential investment properties and commercial buildings. Most properties, new and old, have depreciation available.

What can you claim?

You don’t need to spend money to claim tax depreciation. Tax depreciation deductions are split into two categories:

Division 43: Capital works deductions

Capital works deductions (division 43) refer to the building’s structure and items that are permanently fixed to the property such as kitchen cupboards, doors and sinks.

Capital works typically make up between 85-90% of the total claim.

There are different rates of depreciation available for different properties based on their type, industry and construction commencement date.

Division 40: Plant and equipment depreciation

Plant and equipment assets (division 40) are items which are easily removable from the property, like carpet and blinds. These assets have a limited effective life as set out by the ATO and can generally be depreciated over time. Investors can claim depreciation deductions for more than 6,000 different ATO recognised plant and equipment assets.

There are some restrictions to claiming depreciation on previously used plant and equipment found in second-hand residential properties as legislation changed in May 2017.

How do I claim depreciation?

A tax depreciation schedule prepared by a specialist quantity surveyor like BMT Tax Depreciation is the best way to substantiate your tax depreciation claim with the ATO.A comprehensive tax depreciation schedule prepared by BMT Tax Depreciation will help you claim all available depreciation tax deductions for the effective life of your investment property.

For a Quote, simply call BMT on 1300 728 726 or online at www.BMTQS.com.au

Dear Fellow Property Investor,

Melbourne homeowners are set for an up to $55,000 windfall that could usher in record house prices in the next year.

New PropTrack estimates have tipped the city for 3 per cent to 6 per cent home value growth, the biggest uplift in the past two years after multiple interest rate hikes since May 2022 put the Victorian capital’s housing market in the doldrums.

For Melbourne’s $921,000 median house price, the growth would mean a $27,630-$55,260 surge.

It would also add $18,500-$37,020 to the city’s $617,000 typical unit.

At the upper end of the forecast, the city’s home values would rise more than seven times the 0.8 per cent uptick they recorded this financial year.

PropTrack economic research director Cameron Kusher said Melbourne buyers have had more choice in stock than other states and the city was becoming more attractive to buyers due to its affordability.

“It’s the first time Brisbane is back in line with Melbourne in terms of affordability and the gap (of affordability) between Sydney and Melbourne, it’s one of the largest on record,” Mr Kusher said. “Although Victoria is still seeing a slightly greater loss of people to other states than it is gaining, housing affordability will drive people to want to come to Victoria.

“If you want to build your career you want to be in Sydney or Melbourne.”

Despite the scope for price rises, Mr Kusher said with the new financial year looming there were positive signs for buyers ahead.

“With the tax cuts coming next week we will see buyers borrowing capacity increase and then provided that we have interest rate cuts as well at some point, Melbourne will start looking more affordable and attractive,” he said.

“The state government in Victoria is still seeing investors selling out of the market which is creating space for first home buyers.

“It’s getting more expensive to rent and there is a lot of stock on the market.”

Ray White Craigieburn auctioneer and sales consultant Trish Orrico said 50 per cent of her sales lately had been landlords selling up due to tax hikes for investors, with first home buyers snapping up the residences.

“While these projected figures are positive, we shouldn’t be making assumptions on the property market, we don’t have a crystal ball,” Ms Orrico said.

“The market is the market we are guided by things that are happening within the economy now.”

The analysis from PropTrack revealed national home prices are expected to rise by up to 5 per cent in the new financial year in line with slowing price growth forecast for several capital cities, though more substantial price growth is still possible in Sydney as well as Melbourne.

Let me ask you something…

Do you have a game plan for 2024?

Or will you watch savvy, educated, market-ready investors snap up all the bargains at the bottom of the Melbourne property cycle (which, in my opinion, already bottomed out in November 2022), again?

Or, will you join them?

So, what are you waiting for?

Reserve your place and join me and 55 like-minded property investors for the first Real Estate Investing Fast Track Weekend for 2024!

Click HERE to reserve your seat now!

Australia’s wealth is highly concentrated in our housing market. The total value of the nation’s residential housing stock hit $10.4 trillion in late 2023, according to the Australian Bureau of Statistics (ABS).

Broadly speaking, the property market has recovered from the downturn in prices of 2022. Despite a series of interest rate hikes taking the cash rate to a decade high of 4.35 per cent, property prices across the nation surprisingly went up in 2023.

Alongside the constrained housing supply, economists say the strong demand for housing – fuelled by population growth – largely cushioned the housing market from the effects of higher interest rates and poor housing affordability.

Without knowing if the cash rate has peaked, or when it might come down, economists and experts are divided in their predictions for the property market in 2024 and beyond. 

Domain has predicted national house price rises of 5 to 7 per cent in 2024.

The median house price in Sydney is expected to rise by 7 to 9 per cent, in Brisbane and Adelaide by 7 to 8 per cent, and in Perth by 6 to 7 per cent.

In Canberra, a more modest rate of 3 to 5 per cent is forecast, while Melbourne and Hobart’s median is predicted to rise by 2 to 4 per cent.

A slash in interest rates would likely spark demand and activity in the housing market, said Domain chief of research and economics Dr Nicola Powell. 

“The interest rate cut is going to be one of those things that’ll probably help to change consumer sentiment,” she says. 

“Once we start to see interest rates being cut, it’ll feed into improved consumer sentiment, and once consumer sentiment starts to rise, we’ll likely see increased housing activity occur – and that is expected to happen in late 2024.”

Are house prices dropping in Victoria? 

Yes, but not by much. Melbourne’s median house price dropped 1.5 per cent over the first three months of 2024, falling to $1,032,000.

Prices have been basically stagnant for the past year, up by 0.7 per cent compared to the March quarter of 2023.

The city’s housing market peaked in 2021 when the median house price hit its record high of $1,094,000.

Meanwhile, Melbourne’s median unit price fell by 1.3 per cent over the latest quarter to $564,095. 

Along with high interest rates and reduced borrowing power, Dr Powell said negative net interstate migration and market weakness following Melbourne’s extended lockdowns had left its property market further behind than in other cities.

In regional Victoria, house prices in most council areas have taken a tumble in the past year, in some cases reversing the COVID-era gains.

What will houses be worth in 2030 in Australia? 

If only we knew! Even the most esteemed and knowledgable economists in the country have been wrong about house price predictions in recent years, so it would be nigh impossible to predict prices in 2030.

The housing market is influenced by a wide range of factors including global economics, geopolitics, and events such as wars or pandemics. The Australian political landscape also plays a significant role in house prices, with legislative changes and housing policies – such as stimulus packages for first-home buyers, or tax incentives for developers – all having an impact on supply and demand.

One of the main drivers of Australian property prices is the country’s housing shortage. Put simply, new home completions have failed to keep pace with population growth.

With the country’s population projected to increase by two million people by the end of this decade, the Labor government has announced its aim to build 1.2 million new homes by 2029. But experts believe it will likely still fall short of Australia’s housing needs.

Future lending conditions, inflation and interest rate rises or cuts will also impact property prices in the years to come.

A potential property bubble bursting in the Australian housing market has been hotly debated for many years, but fears or warnings of a looming “crash” have not come to fruition. House prices softened in 2022 after an enormous upswing following the pandemic, but the downturn was short-lived.

Right Now In 2023, The Melbourne Property Market Is Experiencing ‘A Perfect Storm’ Of Buying Opportunities For Educated And Market Ready Investors!

These are the following reasons why NOW is the Perfect Storm!

1. Chinese buyers return to Australia's housing market and snap up properties, sparking fears prices could rise even further! Foreign buyers are returning to the Australian property market; the fear is, they could drive up the cost of homes for Aussies already struggling to buy one. 

China was the largest source of investment for residential real estate investment proposals by number and value ($0.6 billion), as it was in 2021-22 and 2020-21. The next two largest sources of residential investment were Hong Kong ($0.1 billion) and Vietnam ($0.1 billion). 

The investment figures that were recently released by the Australian Government’s Treasury, in its Quarterly Report on Foreign Investment, cover the last quarter of 2022.

Total foreign investment in Australia fell sharply but Chinese buyers remained the most significant, with $600 million of approved investment, even though that was down $1 billion.

With Hong Kong investment included in the Chinese total, Chinese investment this quarter accounted for $700 million of Australian property. After China, the next largest investors were Vietnam, Singapore, and the United Kingdom, each of which invested $100 million in residential real estate.

In this quarter, the largest target sector for proposed investment for the quarter by value was commercial real estate, with a total value of $19.3 billion.

The United States was the largest source country for commercial investment proposals by number and value ($16.7 billion), as it was in 2021-22 and 2020-21. 

The next four largest source countries by value were China ($6.7 billion), Singapore ($5.2 billion), South Korea ($4.2 billion), and Canada ($3.8 billion).

While the overall numbers are down, the return of Chinese students to Australia, an end to pandemic travel bans, and warming relations between the two countries, are driving a rise in property inquiries from China.

Juwai IQI Co-Founder and Group Managing Director Daniel Ho said that at the current rate, China would invest an estimated $3.2 billion in Australian residential real estate this year, which would be up from $2.4 billion in 2021-22.

With the inclusion of Hong Kong, China would invest $3.8 billion, which would be up from $3 billion last year. 

“In 2022 and so far this year, Australia is the most popular country for Chinese homebuyers, for the first time ever, according to Juwai IQI Chinese buyer enquiries,” Mr Ho said.

“In January, Chinese buyer inquiries for Australian real estate surged by 24 percent compared to December, due to the announcement that borders would be reopening.” The latest data from national removalist booking platform Muval has revealed Australians are continuing their exodus from Sydney, looking strongly in favor of Melbourne.

2. Inbound inquiries show the laneway capital remains streets ahead of the rest according to the platform; Melbourne was the most popular city to move to in 2022, with the February figures showing the city accounted for the most eyeballs. 28% of all major metro inbound moving inquiries were for Melbourne. This is an increase from last January when Melbourne accounted for 24%.

3. Melbourne homeowners are holding back from listing properties in the declining market, resulting in almost a 30 percent drop in the number of homes for sale in some regions year on year.

House hunters have fewer properties to choose from as falling property prices prompt vendors to rethink plans and some to delay selling until the market improves.

Buyers in Melbourne’s north-east have seen the biggest drop in homes on offer, as new listings in January – properties marketed for 30 days or less – were down 28.2 percent year on year. This fall was closely followed by the inner south, where new listings dropped by 28.1 percent.

The inner region was down 21.9 percent, the outer east 19.7 percent, and the west 15.4 percent.

New listings were down more than 10 percent across Melbourne, but the number of homes hitting the market on the Mornington Peninsula rose 3.3 percent.

The total number of homes for sale was also down in most Melbourne regions except in the northwest and west of the city, where numbers were up 13.9 percent and 8.2 percent respectively. In the Mornington Peninsula, they were up 27.8 percent.

4. Melbourne rents have rocketed to record highs, jumping as much as 20 percent in a year and prompting fears of homelessness and housing stress for low-income households. In fact, there has never been a tougher time to be a renter in Melbourne, where vacancy rates are just 1.4 percent and rents have hit record highs.

The median weekly cost of renting an apartment in Melbourne last week hit $450 – a 20 percent increase on 12 months earlier – while in inner Melbourne rents have reached a weekly median of $490 a week, according to the Domain Rent Report for the December quarter.

The most recent Australian Bureau of Statistics figures, taken in August, showed the median weekly income in Melbourne was $1300 (across Victoria the median was $1250). Rental stress is defined as paying more than 30 percent of one’s income in rent, meaning for a single renter on a median wage in Melbourne, anything more than $390 a week would put them in rental stress.

For houses, the median rent reached a record high of $480 and grew 7.9 per cent in the 12 months to December.

The increase comes amid growth in demand as tenants make pandemic living habits permanent and eschew share houses for their own space, at the same time as international borders reopen.

While rental increases are bad news for tenants, its great news for landlords, especially for those who purchased their investment properties in the inner east and Bayside where rental yields have increased over 16 and 17 per cent respectively, far beyond any increases in interest rates over the same time period.

5. Record Low Vacancy Rates;

6. Financial markets think rate hikes are done... now pricing is in a rate cut through the second half of the year.

In fact, I believe, that many property investors who are currently staying out of the property market will look back retrospectively and realise that November and December 2022 were in fact the lowest and most opportune times to enter the Melbourne property market from a ‘Market Timing Perspective’…

Dear Fellow Property Investor,

Did you know that Melbourne and Sydney have officially entered the beginning of the growth part of the next property cycle?

This CoreLogic graph perfectly captures the cyclical nature of the Australian property market – and suggests we may be entering another growth phase.

The share of Australian suburbs that recorded price growth over a rolling three-month period rose from 18.7% in December to 34.6% in March.

As the graph shows, the market started booming in late 2020, and, by early 2021, almost every suburb in Australia was experiencing quarterly growth.

The market then cooled sharply from early 2022, but this downturn appears to have bottomed out in October when 16.5% of suburbs posted quarterly growth.

Since then, the share of growth in suburbs has been trending upward.

So the first million-dollar question is…

Are you market-ready to take advantage of the prevailing circumstances?

And the next million-dollar question is; 

Do you have the skills and knowledge to correctly identify the best-performing suburbs in Melbourne in 2023 right now? 

Or will you simply wait by the sidelines and see other savvy property investors snap up the best opportunities?

Now I know what you are thinking…

But Melbourne is very expensive now, as the average 3-bedroom townhouse in the bayside area or the eastern suburbs costs between $1.5 to $2 million dollars.

And yes, that’s very true. 

So If you have a budget of only $700K, where do you buy?

Well, the answer is in suburbs that are currently going through the process of gentrification!

The bad and ugly ducklings of today will become the trendy-hipster suburbs of tomorrow.

Case and point; Brunswick 20 years ago, Carlton 20 years ago, St Kilda 20 years ago, Northcote 20 years ago, and Yarraville 20 years ago, just to name a few.

Take Northcote for example, known as the poster boy of the Gentrification phenomena in Melbourne, from 2011 to 2023 Northcote boomed!

In Northcote West, the median income is now $1216 per individual, an increase of 62 percent from 2011. In Northcote East, the median leaped 55 percent over the decade to $1130.

Footscray and Yarraville were also suburbs that were showing similar signs of gentrifying. Wealth has also increased rapidly in Thornbury, the median weekly income has risen from $641 in 2011 to $1041 by 2021, an increase of 62 percent.

So where are the Gentrification suburbs of tomorrow?

Join me for an exclusive 1.15-hour video where you will discover advanced property investing strategies to use in the current market to identify, with laser-like precision the best-performing Gentrification suburbs of tomorrow!

You will also learn specific real estate finance and due diligence methodologies that will give you the confidence and skills to start building your property portfolio as soon as you finish watching the video;

Many of you will be thinking right now…’ have I missed the boat? Especially on Suburbs experiencing Gentrification?

Well not really….

One of the most fundamental principles of property investing in Australia is to appreciate that the market moves in distinct cycles which are characterized by periods of strong capital growth and demand for properties, through to periods of a flat-lining market, following periods of distinctive falling median prices, lower demand for properties, and a decline in property prices. 

The general rule of thumb is that these property cycles last 7 to 10 years, and can be segmented into 4 main parts, the ‘Peak of the Market’ being the shortest of the four; 

1. Peak of the Property Market – High capital growth, auction clearance rates of 85% plus.
2. Decline of the Property Market – Declining capital growth, auction clearance rates dropping from 80% to 60% and 50%.
3. Bottom of the Property Market – Extended periods of low capital growth, auction clearance rates of 45% to 50%. 
4. Growth of the Property Market – Increasing capital growth, increase demand for property, increased auction clearance rates, 55% to eventually 75%.

Would you like to know exactly where Melbourne or Sydney is located right now on the property clock?

I will be revealing the location of our major property markets on the property clock during this video. 

Plus…

I will also reveal my TOP 10 Gentrification Suburbs of Tomorrow, those that are destined to experience double-digit capital growth over the next decade!

In fact, one of these suburbs is booming right now, and no one is noticing or even talking about it in the mainstream media.

The main thing to remember is that money is made by both the timing of the market, and of time in the market. 

Finally, for those of you with deeper pockets, I will show you the top ten suburbs in Melbourne that have consistently hit double digits in Capital growth over the last 10 years, and more importantly, the top 10 areas that will have the highest potential to outperform the rest of the property market in 2023 and over the next 5 years!

I will also show you the exact type of properties, i.e. house and land packages, townhouses, or apartments to target in these areas, and why….this section will surprise many of you. 

So what are you waiting for?

Check out this video NOW!

Dear Fellow Property Investor,

Did you know that one-bedroom flats in the big cities have missed out on Australia's property boom despite interest rates being at record lows?

National home prices last year surged by 22.1 per cent - the fastest annual growth for a calendar year since 1989.

House values in some capital cities went up by a third in just one year as two and three-bedroom units had double-digit annual price growth.

But one-bedroom apartments hardly increased in value at all, especially in cities with oversupply issues, Domain sales data showed. 

In Australia's biggest cities, values were either flat over the year or increased by single digits even though the Reserve Bank kept the cash rate at a record-low of 0.1 per cent.

Young couples with a child usually prefer something larger with a bedroom for the baby, which means the potential market for one-bedroom units is smaller.

Investors often buy smaller apartments to rent out but Sydney's unit market is now going backwards for the first time since late 2020 despite a reopening of Australia's border to international students and skilled migrants. 

Economists are expecting the Reserve Bank to raise interest rates later this year, which would cause a slowdown in house price increases and a fall in 2023. 

In Melbourne, the median price for a one-bedroom unit remained flat over the year, staying at $395,000 as the city was kept in lockdown for many months.

By comparison, mid-point house prices in the same city rose by 18.6 per cent to $1,101,612. 

Apartments in general still had a lacklustre year with two-bedroom units in Melbourne going up by 4.5 per cent to $606,000.

Larger, three-bedroom units did better though with values rising by 12.1 per cent over the year to $846,250.

Inner-city areas of the Victorian capital had some of Australia's highest rental vacancy rates during the earlier stages of the pandemic, after the border was closed to foreigners.

Sydney also saw smaller units vastly underperform the increase in house prices and larger apartments.

One-bedroom units went up by just 6.6 per cent annually, to $680,000. 

This was well below the 33.1 per cent surge in the median house price to $1,601,467.

Larger apartments, however, had double-digit growth with two-bedroom unit prices rising by 10.9 per cent last year to $825,000. 

The median price of a three-bedroom apartment in Sydney went up by 14.1 per cent to $1.325million.

But new CoreLogic data released this week showed Sydney's house and unit prices together falling by 0.1 per cent in February - marking the first decline since September 2020, before the Reserve Bank cut the cash rate to a record-low of 0.1 per cent.

Median apartment values dropped by 0.3 per cent to $831,793, which was the sharpest decline since November 2020.

Australia's median home price last year rose by more than 22 per cent, marking the fastest calendar year increase since 1989. 

The annual increase has slowed to a still-strong 20.6 per cent, with $728,034 now the middle point for a property.

One-bedroom units in Brisbane went up by just 4.1 per cent over the year to $333,150, the Domain data showed.

This occurred as the median house price surged by 25.7 per cent to $792,065.

Two-bedroom apartments had double-digit price growth, going up by 10.2 per cent to $452,000.

But the median price for a three-bedroom unit fell by 2.1 per cent to $460,000.

Canberra, however, was a rare exception with the median price of a one-bedroom unit surging by 15.4 per cent to a still-affordable $410,000.

Two-bedroom units did even better with an annual price increase of 28.6 per cent to $575,000 as three-bedroom apartment prices rose 25.9 per cent to $752,000.

Last year, Canberra's mid-point house price rose by 36.6 per cent to $1,178,364.

But in the other mainland capital cities, the value of one-bedroom apartments went up in the single digits last year.

Perth's median price for a one-bedroom flat rose by just 6.3 per cent to $276,500. 

But this was at least better than the 1.4 increase for two-bedroom units, taking the mid-point to $350,000.

In Adelaide, the median price of one-bedroom apartments increased by eight per cent to $289,000.

By comparison, two-bedroom unit prices rose by four per cent over the year to $348,500.

Nonetheless, three-bedroom units had strong growth, with prices climbing by 15.9 per cent to $524,000.

Kind regards,

KONRAD BOBILAK