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Values in Darwin’s housing market have been declining since 2014-2015, coinciding with the contours of the liquefied natural gas boom, according to the latest report from Moody's Analytics.
The report found, dwelling values are now around 23% below the peak.
As a result of falling dwelling prices, housing affordability in Darwin is among the highest of all capital cities, attracting increased numbers of first time home-buyers.
<img src="https://www.urban.com.au/images/2019/1/17/NT%202017-2020%20home%20values.JPG" alt="">
Moody’s Analytics expects a 3.7% growth in house values in 2018 after a -2% drop in 2018 in Darwin.
Greater Darwin House values are forecast to accelerate in 2020 growing 6.6%.
Apartment values in Darwin dropped steeply by 11.3% in 2018 however they are to stabilise in 2019 growing 1.2% and building off that growth in 2020 reaching 6.5% growth in median apartment values.
Dwelling values in Darwin fell year on year every month for four straight years.
The rest of the Northern Territory is forecast to have a recovery with house prices to grow 5.9% in 2019 and 4.4% in 2020 after seeing small losses in median house value in 2017 and 2018.
Vacancy rates in Darwin in the June quarter of 2018 were the highest among all capital cities, according to the Northern Territory government, though Darwin’s vacancy rate is susceptible to fluctuations due to the transient nature of the state’s population.
The authors noted that, "as a result, rental values have been tumbling; they were already down 24% since the first quarter of 2014."
"Even though building approvals have been falling at a similar rate in recent years, rental values have continued to fall."
"This is contributing to lower purchasing demand, even though rental yields are high by national averages," they concluded.
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j.ballantyne1990-6AQqhLzZaK

Darwin property values to finally rise in 2019: Moody's Analytics

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A Tomewin Mountain home with views of Currumbin Valley has hit the market with a price guide of $1.875 million. 
It has been listed by Ray White Tugun’s Ken Jacob and Camilla Skye.
The 4.06ha Gold Coast hinterland home at <a id="LPlnk213232" href="https://www.realestate.com.au/property-house-qld-currumbin+valley-128568114" target="_blank" data-auth="NotApplicable">731 Tomewin Mountain Rd, Currumbin Valley</a> has two separate dwellings including a main low-rise luxury four bedroom residence and a contemporary two bedroom council-approved studio.
<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/2019/1/14/currumbin%203.jpg" alt="">
The outdoor features include a resort-style pool, a Balinese-style pavilion, a paved outdoor dining and entertainment zone, tennis court with clubhouse, and a huge five-bay shed.
It's only 24 minutes from Burleigh Heads and 25 minutes from Gold Coast Airport. 
The suburb's median house price sits at<a href="/developments/currumbin-valley-qld-4223"> $850,000</a> according to CoreLogic. 
<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/2019/1/14/currumbin%202%20.jpg" alt="">
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Currumbin Valley trophy home with mountain views listed

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GUEST OBSERVATION
The latest figures put Australia near the top when it comes to company tax collections, even though our total tax take isn’t particularly high.
In international tax circles, as in other areas, we often talk about American exceptionalism.
But these days, it is becoming increasingly clear that Australia is exceptional in taxation, among members of the Organisation for Economic Co-operation and Development and indeed, compared to countries around the globe.
The OECD has just produced its <a href="https://www.oecd.org/tax/beps/corporate-tax-statistics-database.htm" target="_blank">first-ever detailed comparison</a> of company tax collections and rates and effective rates around the world. The “statutory” or headline rate comparisons cover 94 countries. The harder to calculate “effective” tax comparisons cover 88 countries.
The bad news – for companies – is that Australia is close to the top among the 94 countries, and in one of the measures, the effective marginal company tax rate (more on this later), third from the top.
Click <a href="https://images.theconversation.com/files/253830/original/file-20190115-152971-1oevmqr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip" target="_blank">here</a> to enlarge.
<a href="https://images.theconversation.com/files/253830/original/file-20190115-152971-1oevmqr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/253830/original/file-20190115-152971-1oevmqr.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Interestingly, in another recent report, the OECD shows that Australia clearly falls into the “low tax” group among OECD countries, with a tax-to-GDP ratio <a href="http://www.oecd.org/tax/tax-policy/revenue-statistics-2522770x.htm">below 25%</a>. But within that context we rely heavily on company tax.
Company tax revenues are high
Australia’s A$80 billion in company tax collections in 2016 was about 4.6% of GDP, ranking Australia twelfth out of the 88 countries for which the OECD had information.
Company tax accounted for 16% of Australia’s total tax revenue, the 27th highest out of the 88 countries.
The statistics have oddities. Luxembourg and Switzerland also have a high share of company tax revenues because they attract so much global capital. In contrast, the overall high-taxing countries of France, Denmark and Finland collect much less revenue from company tax.
Click <a href="https://images.theconversation.com/files/253831/original/file-20190115-152968-kcvom4.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip" target="_blank">here</a> to enlarge.
<a href="https://images.theconversation.com/files/253831/original/file-20190115-152968-kcvom4.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/253831/original/file-20190115-152968-kcvom4.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a> 
Headline rates are heading down
Corporate tax rates have been trending down for at least two decades. The Trump tax changes in 2017 that lowered the US federal rate to 21% was the latest dramatic change, but the United Kingdom now has a rate of 19% and many European countries sit at or below 25%. The change since 2000 has been dramatic and the global average is now 20%.
In our Asian region, the average headline corporate tax rate is 15%. As a result of <a href="https://www.oecd.org/investment/investment-policy/Towards-smarter-use-of-tax-incentives-in-Southeast-Asia.pdf" target="_blank">tax incentives available around Asia</a>, companies involved in manufacturing and supply chains often face a lower, or zero, rate.
This trend was identified by the Henry Tax Review in 2009, which recommended transitioning to a 25% rate, which today could be financed with a 1% increase in Australia’s GST rate, according to <a href="https://www.policyforum.net/australia-can-afford-cut-company-tax/" target="_blank">recent modelling by Chris Murphy</a>.
Click <a href="https://images.theconversation.com/files/253833/original/file-20190115-152983-16aslqh.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=524&amp;fit=crop&amp;dpr=1">here</a> to enlarge.
<img src="https://images.theconversation.com/files/253833/original/file-20190115-152983-16aslqh.JPG?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""> 
What matters are effective tax rates
The OECD also compares effective marginal tax rates (EMTRs), and effective average tax rates (EATRs), for corporate investment. These combine the headline rate with the rules for corporate investment, depreciation allowances for plant and equipment, and intellectual property investment.
In theory, investors choose to invest based on the expected after-tax rate of return, taking into account tax breaks and special rules.
The EMTR determines the tax cost of expanding an existing investment: putting one more dollar into that investment. In the EMTR ranking, Australia is third highest.
Countries that provide a tax break known as <a href="https://theconversation.com/how-the-government-can-pay-for-its-proposed-company-tax-cuts-92739" target="_blank">allowance for corporate equity</a>, including Belgium and Italy, actually have negative tax rates on increased investment.
The EATR reflects the tax rate that would be paid on an entire new investment. In the EATR ranking, Australia is, again, near the top in ninth place, at 30% – the same as our statutory rate.
Click <a href="https://images.theconversation.com/files/253834/original/file-20190115-152980-11hzrfk.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip" target="_blank">here</a> to enlarge.
<a href="https://images.theconversation.com/files/253834/original/file-20190115-152980-11hzrfk.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=1000&amp;fit=clip"><img src="https://images.theconversation.com/files/253834/original/file-20190115-152980-11hzrfk.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></a>
Unlike many other countries, Australia has few tax incentives. We do not have a low tax regime for intellectual property or accelerated depreciation for new equipment – except for small businesses, and mining exploration. Only in research and development did Australia provide higher tax subsidies than some other countries and the R&amp;D concession is <a href="https://www.budget.gov.au/2018-19/content/factsheets/6-tax-integrity" target="_blank">being tightened</a>.
Overall, Australia’s high rate and broad corporate tax base makes new investment, or the expansion of existing investment, expensive relative to other countries.
Why are we such an outlier?
Australia is a resource extraction and exporting economy.
We haven’t had to compete quite as hard for foreign investment as other countries.
Our relatively high rate of company tax serves two purposes: to tax company profits and to get a fair return on resources in the ground which state governments, through royalties, don’t properly charge for.
And we are geographically isolated, meaning that, even in the global digital economy, it is hard for companies to service us from offshore. Many have to be here and subject to tax.
Also, and importantly, our reliance on corporate tax is not as dramatic as it seems, because of our almost unique dividend imputation system. About one third to one half of corporate tax revenues are handed back to shareholders in credits against company tax already collected. (New Zealand, which has an imputation system, also has high corporate tax revenues).
Kevin Davies suggests that the “real” corporate tax rate in Australia, taking account of dividend imputation, is <a href="https://theconversation.com/australias-company-tax-burden-is-just-a-myth-10433" target="_blank">below 20%</a>.
But that assumes a closed economy. The reality is that the imputation system subsidises some domestic investors – especially tax-free retirees with self managed super funds – while pushing the full weight of company tax onto foreign investment, at the expense of the economy as a whole, and at the expense of Australians who could potentially benefit from that investment.
The political heat generated by Labor’s proposal to end the payment of imputation cheques to <a href="https://www.afr.com/personal-finance/superannuation-and-smsfs/retirees-mobilise-to-stop-franking-credit-change-20181119-h18290" target="_blank">retirees who don’t pay tax</a> shows their high value to domestic investors. Self-managed super funds are <a href="https://www.intelligentinvestor.com.au/the-franking-elephant-in-the-room-1888156" target="_blank">massively overweight in stocks that provide imputation credits</a>, skewing the Australian share market and the dividend policy of our largest companies.
Does it matter?
Australia’s high company tax rate, and the bias in our imputation system against foreign equity, mean that large multinationals will increasingly borrow to finance Australian investment rather than issue shares.
They will get tax deductions for outbound flows of interest, service fees and royalties, while shifting more and more of their sales, marketing and intellectual property offshore where they can.
Australia can, and is, clamping down on profit shifting, but it’s a never-ending battle.
<a href="https://taxpolicy.crawford.anu.edu.au/publication/ttpi-working-papers/12644/australias-high-company-tax-rate-and-dividend-imputation-poor" target="_blank">A bold suggestion </a>is that we should scrap our system of dividend imputation and use the money saved to dramatically cut the rate of company tax. It would make Australia much more attractive to foreign investors, although much less attractive to retirees.
Another idea <a href="https://theconversation.com/heres-a-long-term-budget-fix-that-would-boost-investment-replace-company-tax-with-cashflow-tax-108347" target="_blank">aired in The Conversation late last year</a> is that we should make new capital investment fully tax deductible, turning company tax into a “cashflow tax”.
What we’ll probably end up with is a compromise – a combination of permitting greater deductions for new investment and lowering the rate will be the answer, while limiting or ending dividend imputation.
There’s much to be proud of in being a weird mob.
But as David Ingles and I argued in a <a href="https://taxpolicy.crawford.anu.edu.au/publication/ttpi-working-papers/12216/australias-company-tax-options-fiscally-sustainable-reform" target="_blank">research paper</a> last year, it is not smart to ignore what’s happening in other places.
It is true we are geographically isolated, and it is true our resources make us different, but we exist in a global tax environment in which investors consider tax when they decide where to put their money. It is beyond our control.
Miranda Stewart is a Professor at the University of Melbourne
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/new-figures-put-it-beyond-doubt-when-it-comes-to-company-tax-we-are-a-high-tax-country-in-part-because-it-works-well-for-us-109875" target="_blank">original article</a>.
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When it comes to company tax, we are a high-tax country, in part because it works well for us: Miranda Stewart

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11 percent of home borrowers will be seeking new lenders this year, according to a new research revealed by Finder.
Their survey of 2,010 revealed that 56 percent of Australians are "sick of paying too much for financial products and pledging to switch at least one this year."
Aussies are most likely to switch phone providers, with 3.5 million looking to ditch their telco this year.
Finder's survey revealed "parents are twice as likely (14%) to consider switching a home loan than those without kids (7%)."
"Australians are least likely to shop around for super funds. Just 7% admit they will look for a better deal in 2019."
"Health insurance (17%), car insurance (16%), energy plans (16%) and broadband internet (14%) round out the top five switches that Aussies will be pursuing in 2019," according to the researchers.
Angus Kidman, editor-in-chief at Finder, says “Cost-cutting is the main reason householders will jump ship, and it can result in huge savings.
Generation Y (those aged 24-38) are much more inclined to switch, with 70% keen to find a better deal in 2019, compared to just 41% of Baby Boomers (those aged 59 and above).
Kidman said “More Australians are shopping around than ever before and they’re looking for the best deals."
<table><tbody>
<tr><th colspan="2">
Service                                                       
</th></tr>
<tr>
<td>
Mobile plan
</td>
<td>
18%
</td>
</tr>
<tr>
<td>
Health insurance
</td>
<td>
17%
</td>
</tr>
<tr>
<td>
Car insurance
</td>
<td>
16%
</td>
</tr>
<tr>
<td>
Energy provider
</td>
<td>
16%
</td>
</tr>
<tr>
<td>
Broadband plan
</td>
<td>
14%
</td>
</tr>
<tr>
<td>
Credit card
</td>
<td>
12%
</td>
</tr>
<tr>
<td>
Home loan
</td>
<td>
11%
</td>
</tr>
<tr>
<td>
Super fund
</td>
<td>
7%
</td>
</tr>
</tbody></table>
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Just 11 percent of Australians are set to refinance their home loans in 2019: Finder

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The Customer Owned Banking Association has welcomed the Government’s release of draft regulations to improve access to capital for customer owned banking institutions.
“This will fix an anomaly in tax law that has restricted our sector’s capacity to issue the full range of regulatory capital instruments,” said Customer Owned Banking Association CEO Mike Lawrence.
“Our member banking institutions have been unable to issue convertible debt instruments because of uncertainty about such instruments’ tax status.
“Greater flexibility for our members to issue debt instruments that qualify as regulatory capital will help level the playing field between investor-owned banks and their customer-owned competitors.
“COBA requested this measure in our May 2017 submission to the Hammond Review into access to capital by mutual companies. As Assistant Treasurer Stuart Robert MP notes in his announcement today, this is the latest instalment in the implementation of the Hammond Review’s suite of reforms to boost the competitive potential of the customer owned sector.
“These reforms are designed to improve access to capital and to remove uncertainties currently faced by cooperatives and mutuals to enable the sector to invest, innovate, grow and compete with investor owned corporations.
“We congratulate the Government and the Opposition for their bipartisan support for this important reform agenda.
“Release of the draft regulations for consultation is a further step in the right direction to improving competition in the banking sector.
"Greater competition delivers greater outcomes for Australian consumers.” COBA will be making a submission on the draft regulations.
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COBA welcoming of improved access to capital for customer owned banking institutions

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GUEST OBSERVATION
To make a success of moving home, to the country for example, it helps to be open to the ways a place will change you. 
Many people move in the summer months, but not everyone realises that moving starts a process of identity transformation that never really stops.
I first noticed something about place changing a person when I moved to Canada. While Canada and Australia share many similarities, there were still significant differences. The clothes worn were one, and occasionally a phrase would seem unfamiliar. I was teased for saying “queue” instead of “line up”, and “no worries” instead of “no problem”.
When I moved back to Australia, to tropical Cairns, I found myself in a world that moved on “tropical time”. It could hardly have been more different from the fast-paced world of North America. I had to adapt
Identities are created and evolve in <a href="http://www.oxfordbibliographies.com/view/document/obo-9780199874002/obo-9780199874002-0030.xml" target="_blank">places</a>. Places can be physical, geographical areas and can also be places inhabited virtually, including online games, forums and blogs, or in discourse, such as books and magazines. These places continually shape our identities, changing as we live our lives day by day.
When we move to a new house, especially if it’s a big move such as from city to country or from one country to another, the process of moving inevitably changes us. For a start, we are now a newcomer and the “locals” will speak of us that way. That shapes how we are perceived and perhaps even whether and how we are accepted socially. The norms and morés of the new community may influence us in other ways, even prescribing how we are “supposed” to act in the new area.
‘City girls’ and ‘country girls’
In my <a href="https://eprints.usq.edu.au/34713/" target="_blank">recent research</a> into how media affect lifestyle migrants in rural Queensland, I looked at how place changes people. Many of the women I spoke to described themselves as a “city girl” or a “country girl”. These women framed their identity in relation to their location.
The women who called themselves a “city girl” often chose activities that took them to places where they felt they could relate more – such as the shops, galleries and other amenities of the city. Their identification with the city resulted in weaker bonds locally and sometimes meant that they chose to return to the city. Certainly, they were less satisfied with country life.
On the other hand, women who identified as a “country girl” engaged in activities accessible in their rural locations, including crafts, cooking, gardening and outdoor activities. Their free time reinforced their emplaced nature and strengthened their ties to their place and the people in it. They adapted to being in the country and were happy with where they lived.
How do you adapt to your new life?
Knowing what to do in certain places is a form of capital, as <a href="http://www.oxfordbibliographies.com/view/document/obo-9780199756384/obo-9780199756384-0083.xml" target="_blank">Pierre Bourdieu</a> outlines. Capital describes the knowledge needed to play the game in a particular place.
There are different types of capital, including cultural, economic and educational. Knowing how to act when working at a major company, for example, is different from knowing how to get on when unemployed. These are different fields, which require different capitals. One requires corporate smarts, the other stipulates smarts in various other areas.
Even if our fields don’t change as dramatically as described above, we still use differing capitals when at work, at home, with friends and as a parent. The way we learn how to act, or adapt, is achieved through the expansion of what’s called habitus.
Ordering coffee is part of many people’s daily ritual, but don’t expect a cafe on every corner outside the city. 
Habitus is the stuff we do without thinking – the beliefs, norms and ways of doing things that are a part of us. If we were in a witness protection program, these are the things that would trip us up and lead the bad guys to us. It’s simple stuff, like ordering coffee a certain way, or bigger things like thinking about the world through a particular framework or liking blue or living in the city.
To expand our habitus, we need to see new ways of doing things and imagine these for ourselves. This could happen by watching TV shows, reading books, travelling to other parts of the world or seeing someone else do something differently. It’s hard to change habitus, because we need to be open to new ideas that permeate our reality and we need to like them enough to decide to adopt them and let them become a part of us.
When we move, we are changing the field we occupy. To adapt to this, we watch how other people play the game and, to fit in, we most likely adopt these ideas within our habitus and change a bit. At the same time, we might influence the people around us, changing them a little bit too. It works dynamically.
So, yes, moving countries or to the country from the city is an identity-altering project, and the more the fields are different, the more we have to adapt.<img src="https://counter.theconversation.com/content/109225/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;">
<a href="https://theconversation.com/profiles/rachael-wallis-568028" target="_blank">Rachael Wallis</a>, Lecturer and Research Fellow, <a href="http://theconversation.com/institutions/university-of-southern-queensland-1069" target="_blank">University of Southern Queensland</a>
This article is republished from <a href="http://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/how-moving-house-changes-you-109225" target="_blank">original article</a>.
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How moving house changes you: Rachael Wallis

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Treasurer Josh Frydenberg is under pressure to release the final report of the banking royal commission on February 1 – the day it is handed to the federal government.
Shadow Treasurer Chris Bowen is demanding the report be released publicly on the same day it’s handed to the government, ahead of Parliament resuming in mid-February.
The New Daily website reported Labor will warn any failure to release the royal commission’s final report immediately would “unnecessarily politicise the handling of the report and give rise to potential material market risks around leaks of all or part of the report”.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
“It is in the national interest for the Australian people and victims of banking scandals to be able to access the <a href="https://thenewdaily.com.au/money/finance-news/2018/11/30/bank-royal-commission-wrap/" target="_blank" rel="noopener noreferrer">Hayne Banking Royal Commission</a>’s final report and form their own views, at the earliest opportunity, and that means on Friday, February 1,” Mr Bowen said.
“I have written to the Treasurer requesting they release the final report and related documents of the banking royal commission as soon as practicable after it is received by the government.”
Treasurer Josh Frydenberg established a precedent of releasing the <a href="https://thenewdaily.com.au/money/finance-news/2018/09/28/kenneth-hayne-royal-commission-interim-report/" target="_blank" rel="noopener noreferrer">Royal Commission’s interim report</a> on the day it was received.
The Treasurer will deliver a major economic speech at the Sydney Institute on tonight, which is expected to touch on the government’s approach to the royal commission.
The government voted 26 times against establishing the royal commission. 
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Labor seeks February 1 release of banking royal commission report

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Property price falls could potentially double previous estimates, down 20 percent rather than 10 percent, according to Morgan Stanley.
The revision comes after weakening sentiment and tighter credit.
Potentially facing declines at their largest since the early 1980s, the investment bank's analysis suggests peak-to-trough property declines are now expected to be about 15 to 20 percent, compared with previous estimates of 10-15 percent.
Evidence of worsening conditions will increase pressure on the Reserve Bank of Australia to cut this year, the analysis reported by Nine Entertainment concludes.
<a href="https://www.propertyobserver.com.au/subscribe" target="_blank"><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/2019/1/Subscriber%20strip%20ad.jpg" alt=""></a>
"We are now watching second-round impacts closely," Morgan Stanley's team of equity strategists concludes about the broadening economic impact of the property slowdown.
"There is evidence of a consumer pullback over Christmas but jobs impact will be key for any negative feedback loop to push Australia into a balance sheet recession," it concludes.
A balance sheet recession describes where high levels of debt and growing nervousness about the economic outlook cause consumers or companies to focus on saving and paying down debt rather than spending or investing, causing economic growth to slow or decline.
The research says credit growth continues to slow with the share of interest-only and investor lending low, despite the Australian Prudential Regulation Authority removing restrictions late last year.
Finance commitments have slowed sharply for investors, it noted.
A 15-20 percent decline in real terms - after allowing for inflation - would be the largest slump since the 1981 to1983 decline, when the median house price in Sydney was $79,000.
Falls in house prices in real terms during the global financial crisis were about 9 percent.
 
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Higher property price falls could emerge in balance sheet recession: Morgan Stanley

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The Perth rental market has continued its recovery in the December 2018 quarter, with the vacancy rate declining to 2.8 per cent, according to the latest data from REIWA.
REIWA President Damian Collins said “The last time the Perth vacancy rate was this low was in March 2013. The rapid improvement we’ve observed in the last 18 months is impressive, especially considering the vacancy rate peaked at 7.3 per cent in June 2017 – the highest it’s ever been."
“Now that the vacancy rate is below three per cent, we can safely say the market is in a recovery phase with landlords now the beneficiary of the current rental environment," Mr Collin said.
Median Rent Price
Perth’s overall median rent price continued to hold at $350 per week during the December quarter.
“The median rent in Perth has been stable for seven consecutive quarters, which is the longest stretch of stable rents Perth has seen since reiwa.com first started capturing rental data in 2001,” Mr Collins said.
Despite the markets overall stability 105 suburbs recorded an increase in price, with North Coogee, Churchlands, Ardross, Daglish and Munster the top performers, according to REIWA's findings.
Mr Collins said, “When we drill down further and isolate houses and units, the results of the December quarter are very pleasing for landlords, with both houses and units experiencing increases in rents. The median house rent increased $10 per week to $360 during the December quarter, while the median unit rent increased $5 per week to $325."
“This improvement didn’t translate into an increase in the overall median as there were more units leased during the quarter than houses, which has kept the overall median stable.”
“If the rental market continues on its current trajectory, we should see Perth’s overall median rent price increase in 2019, which will be a welcome development for landlords” Mr Collins stated.
Leasing activity
There were 12,917 properties leased in Perth during the December quarter.
“Leasing activity slowed during the December quarter, as the festive season saw less people out and about searching for properties. This is very common at this time of year, with activity tending to decline in December before increasing again early in the New Year,” Mr Collins said.
Reiwa.com data shows the five suburbs to experience the biggest increase in leasing activity (percentage wise) were Kallaroo, Daglish, Melville, Merriwa and Hilton, while the suburbs with the highest volume of leased properties were Perth, East Perth, Scarborough, Baldivis and Maylands.
“We expect to see a notable increase in leasing activity in 2019, with REIWA members already noticing a significant uptick in the volume of enquiries for rentals in January,” Mr Collins said.
Listings for rent
REIWA indicated there were 6,865 properties for rent in Perth at the end of the December quarter.
“Listings continue to reduce, with the December quarter figure down 10 per cent on the September quarter and a substantial 27 per cent on the same time last year,” Mr Collins said.
“The sharp decline in listings is a driving force behind why Perth’s vacancy rate has improved. With population growth in WA on the incline and fewer new-building projects commencing, listing stock is being absorbed more quickly.”
Average leasing time
Landlords found tenant's on average four days quicker in the December quarter than in the September quarter down to 44 days from 48.
“The signs for 2019 look very promising. The rapidly improving rental landscape combined with Perth’s favourable buying environment should hopefully see more investors enticed back to the market,” Mr Collins concluded.
</body></html>

Perth vacancy rate drops to five year low: REIWA

Toorak remained Melbourne's priciest suburb: REIV

The long-awaited redevelopment of the former Eastlakes Shopping Centre site has reached a major milestone, with Conquest's plans for a new mixed-use precinct officially placed on public exhibition.

The State Significant Development Application would transform the 1.7-hectare site at <a href="https://www.apartments.com.au/new-apartments/19a-evans-avenue-eastlakes-nsw-2018">19A Evans Avenue</a> into one of Sydney's largest urban renewal projects, delivering 736 apartments above a new shopping centre anchored by Woolworths, alongside specialty retail, dining, commercial space and new public open spaces.

The public exhibition marks the next chapter for the project after <a href="https://www.apartments.com.au/developers/conquest">Conquest</a> acquired the stalled Stage Two development from Crown Group, who completed the first stage across the road prior to their voluntary liquidation.

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="5fca22c5-d1ed-4e2c-8801-03f7df1eafc8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland%20podium.png?VersionId=uomwr41nF8CmLUZRDcu3mHQechlbxucS" />

&nbsp;

Designed by DKO Architecture, the proposal comprises four residential buildings ranging from 14 to 18 storeys above a two-level retail podium. The development would deliver 736 apartments, including 74 affordable homes, 215 Build-to-Rent apartments and 521 market residences. Provision has also been made for dual-key apartments, which could increase the total number of dwellings to 877.

At ground level, the shopping centre has been designed as the suburb's new meeting place, anchored by a full-line Woolworths and complemented by a curated mix of fresh food retailers, cafés, restaurants, health services and everyday convenience shopping. Generous pedestrian links and landscaped public spaces will connect the retail precinct through to Jack Mundey Reserve, creating a more walkable and connected neighbourhood.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

"Eastlakes has been overlooked for too long, and this is the community’s moment. We are building a shopping centre and homes, a genuine heart for the suburb, and we genuinely want locals to help shape it."

"We enrich communities through the creation of homes, places, and experiences designed for life, built to last, and owner for generations. That starts with listening, so we warmly encourage everyone with a connection to Eastlakes to view the plans and share their thoughts."

<img alt="First look: Conquest unveils plans for 736-home Eastlakes Shopping Centre redevelopment" data-entity-type="file" data-entity-uuid="22f6fb20-54fb-4bd7-8a92-48fafdd00608" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/eastland.png?VersionId=cugp7s9hrMHGJJdYzkeAkrFoQgnF4GXf" />

DKO said the design had been shaped by the site's landscape setting and surrounding open space.

"Our vision for the site embraces its unique Bidjigal identity by blending the residential living with generous landscaping and a material palette inspired by the Bidjigal locality, and celebrating the panoramic views to Botany Bay and the wetlands reserves."

"Taking cues from Country, we seek to harmonise built form with the landscape and lightly touch the earth. By reconnecting, retaining and regenerating existing ecology, and weaving in natural elements, we can deepen our connection to Country."

The landscape strategy extends across the podium and rooftops, incorporating communal gardens, children's play areas, lawns, community gardens, family gathering spaces and extensive tree planting. New landscaped links will also strengthen the connection between the precinct and Jack Mundey Reserve, while publicly accessible open spaces have been integrated throughout the development.

The proposal builds on Conquest's broader placemaking strategy for the site. Through an ongoing partnership, local artist Joe Rashbrook has been appointed Urban Art Curator, working alongside young residents to transform the project's site hoardings into a public art gallery that allows the community to engage with the redevelopment before construction is complete.

Conquest has rapidly expanded its development pipeline since acquiring the Eastlakes site, with more than $6 billion worth of mixed-use projects now in planning across Sydney, including Stanmore, Castlecrag and Waterloo.

Conquest CEO Michael Akkawi said the redevelopment was about far more than replacing a shopping centre.

Joel Robinson

First look: ‘Far more than replacing a shopping centre’ as Conquest unveils 736-home Eastlakes redevelopment

Abadeen has lodged a State Significant Development Application (SSDA) for one of Mosman's largest apartment developments in recent years, seeking approval to transform the former Honeysuckle Garden and Midas site on Military Road into a 100-apartment mixed-use development.

The SSDA, lodged with investment partner Phoenix Property Investors, proposes around $230 million worth of new housing on the prominent <a href="https://www.apartments.com.au/new-apartments/494-516-military-road-mosman-nsw-2088">494-516 Military Road</a> site.

The proposal comes as Mosman Council continues to progress its recently endorsed Masterplan, which identifies the precinct for increased housing density while maintaining the suburb's established character.

Designed by DKO Architecture, the development would comprise 100 apartments above ground-floor retail, with a rooftop wellness precinct including a gym, sauna, entertaining areas and landscaped communal spaces.

Rather than pushing to the full 12-storey height identified in Council's Masterplan, the proposal ranges between five and nine storeys, stepping down towards Hale Road. A tenth level would accommodate resident amenities rather than additional apartments.

The project has been designed to appeal to a broad range of buyers, from first home buyers and young professionals through to families and local downsizers looking to remain on the Lower North Shore.

<img alt="Mosman" data-entity-type="file" data-entity-uuid="5dada03f-5b4c-43ba-ba62-2868add31440" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.57.55%E2%80%AFAM.png?VersionId=7LBy0B.Jo8_iWAFJsClcV7Q3UnXrv49r" />

Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock.

"The apartments have been designed as genuine long-term homes, with efficient floorplans that maximise usable living areas, generous storage, natural light and strong connections between indoor and outdoor spaces," Brown says."

"We've focused on creating homes for a broad range of buyers, from first home buyers and growing families through to downsizers who want to remain in Mosman."

The rooftop wellness offering forms a key part of the proposal, with residents set to have access to a gym, sauna, outdoor entertaining spaces, communal dining areas, landscaped gardens and a multi-use recreation court overlooking Sydney Harbour.

<img alt="Mosman" data-entity-type="file" data-entity-uuid="d37c2d6b-583a-4a0f-b7a9-9f46b893d2f4" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-27%20at%209.58.06%E2%80%AFAM.png?VersionId=FPoa5FCm2RtzjhAh2w5FTWJbV6GHfY8D" />

DKO drew heavily on the site's natural and cultural history, undertaking a Connecting with Country process with local Aboriginal Elders to inform the architectural and landscape design.

Senior Associate Matthew Ritchard said the design sought to create a building that responded to both the site's landscape and its cultural significance.

"The architectural language of the project is a deep expression of Connecting with Country, where the materiality and colour palette serve as a bridge between the site's geological history and its future as a residential sanctuary."

The proposal also retains the site's established blue gum tree as the centrepiece of the communal landscaped gardens, while introducing activated retail fronting Military Road to strengthen the connection between Mosman and Cremorne villages.

If approved, the project would deliver 100 new homes within walking distance of shops, public transport, schools and local amenities, adding to the limited pipeline of new apartments on the Lower North Shore.

<h2>Project Snapshot</h2>

Project: Honeysuckle Garden Redevelopment

Address: 494-516 Military Road, Mosman

Developer: Abadeen and Phoenix Property Investors

Architect: DKO Architecture

Lead Architect: Matthew Ritchard

Value: $230 million

Residences: 100 apartments

Key features:

<ul>
	<li>
	Ground-floor retail
	</li>
	<li>
	Rooftop wellness precinct
	</li>
	<li>
	Gym and sauna
	</li>
	<li>
	Outdoor entertaining and BBQ areas
	</li>
	<li>
	Landscaped communal gardens
	</li>
	<li>
	Multi-use recreation court
	</li>
	<li>
	Retained mature blue gum tree
	</li>
	<li>
	Connecting with Country design process
	</li>
	<li>
	Harbour, CBD and Balmoral views from upper-level apartments
	</li>
</ul>

Abadeen Executive Chairman Justin Brown said the apartments had been designed as genuine long-term homes rather than investor-focused stock

First look: Abadeen plans 100 apartments on former Honeysuckle Garden site in Mosman

The wave of apartment proposals sweeping through Mosman shows no signs of slowing, with another major residential development lodged through the NSW Government's State Significant Development pathway.

Developer First Quadrant Properties, which recently completed Willoughby Grounds and has several projects in planning across the North Shore, has unveiled plans for <a href="https://www.apartments.com.au/new-apartments/cove-on-ourimbah-40-56-ourimbah-road-mosman-nsw-2088">Cove on Ourimbah</a>, a 63-apartment development on Ourimbah Road, adding to the growing pipeline of projects reshaping one of Sydney's most tightly held harbour suburbs.

The proposal would consolidate nine properties at 40-56 Ourimbah Road into a part eight, part nine-storey apartment building, continuing the momentum created by the NSW Government's accelerated planning pathways that have seen several significant developments emerge across Mosman over the past 12 months.

Designed by Doroch Architects, the project would deliver 63 apartments, resident wellness facilities including a gym, pool and sauna, landscaped communal spaces and basement parking, while using recessed upper levels, generous setbacks and extensive planting to reduce the perceived scale of the building.

<img alt="First look: First Quadrant Properties eyes nine-storey Mosman apartment project under State Significant pathway" data-entity-type="file" data-entity-uuid="32ee68e4-141e-4a10-8f83-48e961a5e71e" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Ourimbah%20Road%2C%20Mosman%20a.png?VersionId=CUeILFc6APlwXPc.iplElbxHvREKwjig" />

Doroch Architects said the building had been designed to reinforce Mosman's established character.

"The building's aesthetic is grounded in the existing residential character of Ourimbah Road and the broader Mosman context," the architect noted in the planning documents submitted to the NSW Government.

The design adopts a contemporary material palette of natural stone, textured concrete and brown concave metal cladding, complemented by integrated planters and deep balconies. The podium incorporates softened curved concrete forms, while increased setbacks have been provided adjacent to the heritage-listed property at 60 Ourimbah Road to create a more sympathetic transition.

The site sits around 330 metres from Mosman Town Centre, placing it within the NSW Government's Low and Mid-Rise Housing policy area, where increased residential density is being encouraged close to shops, transport and services.

The proposal follows a string of major apartment projects lodged or declared State Significant in Mosman in recent months, including Abadeen's 100-apartment Honeysuckle Garden redevelopment on Military Road and several other developments across Awaba Street, Redan Street and Muston Street from the likes of Time &amp; Place, HELM and Prosker Property.

&nbsp;

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/time-place-to-take-on-mosman-apartment-market">Time &amp; Place to take on Mosman apartment market</a>

Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/first-look-abadeen-plans-100-apartments-on-former-honeysuckle-garden-site-in-mosman">First look: Abadeen plans 100 apartments on former Honeysuckle Garden site in Mosman</a>

&nbsp;

First look: Another major apartment proposal signals Mosman's development boom

A new State Significant Development Application (SSDA) could reshape a prominent vacant site in Gosford's CBD, with Ming Tian Real Property proposing a mixed-use precinct that combines affordable housing, retail activation and a new public plaza.

The proposal for 43-45 Beane Street and 2 Keevers Lane would deliver a <a href="https://www.apartments.com.au/new-apartments/43-45-beane-street-gosford-nsw-2250">two-building development</a> comprising a 26-storey residential tower and a five-storey affordable housing building above ground-floor commercial space. A key focus of the project is the delivery of dedicated affordable housing alongside new public domain improvements designed to transform Keevers Lane into a more active urban destination.

Designed by <a href="https://www.apartments.com.au/architects/tony-owen-partners">Tony Owen Partners</a>, the development would provide 130 apartments, including 20 affordable housing dwellings managed by a registered community housing provider for at least 15 years. The market housing component comprises 110 apartments across a mix of one, two and three-bedroom residences, while the affordable housing includes six one-bedroom, 13 two-bedroom and one three-bedroom apartment. The proposal also incorporates 416 sqm of ground-floor retail, three basement levels accommodating 140 car spaces, 42 bicycle spaces, communal open space and extensive landscaping.

<img alt="First look: Ming Tian Real Property plans landmark affordable housing tower for Gosford city centre" data-entity-type="file" data-entity-uuid="9b858791-9060-4ee7-9178-44cb9e640a85" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Beane%20Street%20b_0.png?VersionId=_jbY0mqPEs7.jBZxozR7d6T4u85FoPmb" />

The affordable housing component has been distributed across both buildings, with four apartments located within the main tower and a dedicated five-storey building delivering a further 16 affordable homes. The project also includes 12 adaptable apartments and 24 dwellings designed to Silver Level Liveable Housing Guidelines.

The architectural design draws inspiration from Indigenous storytelling.

"The design is based on the indigenous motif of the Rainbow Serpent," Tony Owen Partners said in the Design Verification Statement.

"The Rainbow Serpent is a traditional totem of coastal eastern Australia. It represents natural forces, creation, change, and rebirth and is often associated with bodies of water. This motif can be seen in the undulation of the balconies rising on the building," Tony Owen Partners said in the Design Verification Statement.

Beyond the residential offering, the proposal seeks to revitalise the surrounding public realm, particularly Keevers Lane.

"The ground floor streetscape includes a commercial and dining precinct which will significantly improve the amenity of the area. This strategy transforms a currently inhospitable laneway into a thriving centre of urban renewal and day and night time activation to compliment the new adjoining UNC facilities," the architects said.

<img alt="First look: Ming Tian Real Property plans landmark affordable housing tower for Gosford city centre" data-entity-type="file" data-entity-uuid="36b0ca6b-af15-424c-81db-9f3049c07b0c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Beane%20Street%20podium.png?VersionId=QCAv7bCitrg3zIGZUHI2z_HR8qVfKbp1" />

The Environmental Impact Statement notes that the project aims to "improve the provision of diverse housing options within Gosford City Centre, enhancing the mixed-use precinct by delivering high quality residential development, whilst concurrently providing a diverse range of housing choices through the provision of affordable housing, which is in growing need within the Gosford City Centre."

The site occupies approximately 2,070 sqm in the Gosford city centre, around 250 metres from Gosford Railway Station and within walking distance of Gosford Hospital, Mann Street's retail precinct and the University of Newcastle's Gosford campus currently under construction. The currently vacant site previously received approval for a lower-scale residential development, with the new proposal leveraging the NSW Government's in-fill affordable housing pathway to increase density while introducing dedicated affordable housing.

First look: Rainbow Serpent inspires bold new Gosford apartment tower

Developer <a href="https://www.apartments.com.au/developers/bottega-property-group">Bottega House</a> has secured council approval for its first Brisbane project - a $270 million luxury residential development on an absolute riverfront site in leafy St Lucia.&nbsp;

The 15-storey project, known as <a href="https://www.apartments.com.au/new-apartments/st-lucia-by-bottega-house-180-macquarie-street-st-lucia-qld-4067">St Lucia by Bottega House</a> , will occupy a prime north-facing site at 178-180 Macquarie Street, directly fronting the Brisbane River in the established inner-west suburb known for its rowing clubs, golf courses and sprawling University of Queensland campus.&nbsp;

St Lucia by Bottega House will feature a suite of amenities including dedicated wellness spaces, a mineral pool and cold plunge. The project has been positioned to attract affluent owner-occupiers seeking high-quality, house-sized apartments.&nbsp;

Bottega House has been set up by co-directors Nick Malloch, Louis Mennes and Craig Marsh.

Malloch said the project drew inspiration from its Brisbane River setting and leafy inner-west surrounds, while responding to the demands of discerning locals looking to transition from freestanding homes into apartment living.&nbsp;

"With an expansive river frontage and lush green surrounds, we knew we had to create something special that reflects the natural beauty of the location while offering residents masterfully crafted homes," said Malloch.&nbsp;

"Our intent was to complement the project's quiet, private setting by introducing residences that offer a calm retreat and sanctuary from the everyday. The result is a harmonious blend of architecture, interiors and amenity that emphasises wellbeing, comfort and beauty without excess."&nbsp;

Malloch added that project consultants had been carefully selected in alignment with Bottega House's commitment to care, quality and attention to detail. The design team includes architects <a href="https://www.apartments.com.au/architects/plus-studio">Plus Studio</a>, interiors practice <a href="https://www.apartments.com.au/interior-designers/mim-design">Mim Design</a> and landscaping by <a href="https://www.apartments.com.au/architects/urbis">Urbis</a>.&nbsp;

Three-bedroom apartments are expected to start around $5 millio. Selling agents Keenan &amp; Byrne said the pricing strategy for the project was anticipated to achieve upwards of $25,500 per square metre.&nbsp;

The project's development approval this week follows the success of Bottega House's inaugural Queensland project - a 22-storey collection of full-floor sky homes at Broadbeach on the Gold Coast which included the sale of a two-storey penthouse at a record price for a beachside residence.&nbsp;

St Lucia by Bottega House is expected to launch to market in November, with construction anticipated to be completed mid 2029.

[smartcode_project_cta:default project_id=151826]

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