<p>Longstanding Gold Coast and Canberra developer <a href="https://www.apartments.com.au/developers/morris-property-group">Morris Property Group</a> is continuing to roll on with its Glitter Strip apartment pipeline, seeking to return to Mermaid Beach with a new 68-apartment development.</p>

<p>Morris, founded by Barry Morris in 1978 and one of the Gold Coast’s most prolific apartment developers over the past two decades, has filed plans for a 12-storey mixed-use building at <a href="https://www.apartments.com.au/new-apartments/36-seabeach-avenue-mermaid-beach-qld-4218">34-36 Seabeach Avenue</a>, on the prized eastern side of the Gold Coast Highway.</p>

<p>The 1,227 sqm site occupies a prominent corner position at Seabeach Avenue and the Gold Coast Highway, opposite the Mermaid Plaza retail and office precinct and around 140 metres walking distance from the future Mermaid Beach South light rail station.</p>

<p><a href="https://www.apartments.com.au/architects/fraser-partners-0">Fraser &amp; Partners</a> has designed the project, which will comprise 68 apartments across a mix of 48 two-bedroom and 20 three-bedroom residences.</p>

<p>The building will rise 12 storeys, reaching a maximum height of 36 metres, with the apartments accounting for a total of 156 bedrooms. The development application also seeks approval for short-term accommodation across the 68 apartments, while two office tenancies are proposed at ground level.</p>

<p>The plans show 108 car spaces across the development, with parking accommodated at ground level and within a three-level basement accessed from Seabeach Avenue.</p>

<p><img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="c2175c99-12fd-4a3c-9be1-89bbf258a90d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.41%E2%80%AFPM_0.png?VersionId=iNLzWcE6gaAE76rafhEXfHve.4g4Se0p" /></p>

<p>Resident amenity will be concentrated on level two, where Fraser &amp; Partners has designed a recreation deck with a swimming pool, 90 sqm pool terrace, outdoor barbecue area and gym.</p>

<p>The broader communal offering will also incorporate landscaped spaces, with the planning documents noting the amenity has been designed to provide areas for recreation, social interaction and outdoor living.</p>

<p>The proposal would continue the transformation of the Gold Coast Highway corridor through Mermaid Beach ahead of the arrival of the light rail.</p>

<p>The site is zoned Neighbourhood Centre and sits within the Mermaid Beach/Broadbeach Light Rail Corridor neighbourhood plan. While the prescribed building height is 24 metres, the site is identified within an Urban Neighbourhood context providing for a 50 per cent height uplift to 36 metres.</p>

<p>Planning documents describe the stretch of the Gold Coast Highway between Broadbeach and Nobby Beach as increasingly characterised by medium and high-rise development, with the proposed Morris tower joining projects including Ventura, The Alfred, Oceans and Otto.</p>

<p><img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="911f193f-e381-4a55-be08-58be87fcf978" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%202.59.48%E2%80%AFPM.png?VersionId=oxVvLJaY.SOXEdXrIcogfyEXDfvCmmpM" /></p>

<p>The development would mark Morris Property Group's latest investment in Mermaid Beach, where it has already delivered two apartment projects.</p>

<p>Otto, at 1 Bondi Avenue on the western side of the Gold Coast Highway, comprises 70 apartments across nine storeys. The project was completed in 2019 and includes a residents' gym, recreation deck and swimming pool.</p>

<p>Morris also developed Oceans at 46 Ocean Street, a nine-storey, 70-apartment build-to-rent development completed in 2019. Oceans was the group's first build-to-rent project and incorporates commercial space at ground level.</p>

<p>The two existing Morris projects sit further north along the same Gold Coast Highway corridor as the proposed Seabeach Avenue development. Fraser &amp; Partners' planning analysis specifically identifies both Otto and Oceans among the established built-form precedents surrounding the site.</p>

<p><img alt="Seabeach Avenue and the Gold Coast Highway" data-entity-type="file" data-entity-uuid="14925119-7b71-4812-8149-340317512c7c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-20%20at%203.00.15%E2%80%AFPM.png?VersionId=aEJqYuw_nTCjcin17BSD0piB1EFotTlj" /></p>

<p>Mermaid Beach represents only part of Morris' considerable Gold Coast footprint.</p>

<p>The family-owned developer has been particularly active in neighbouring Broadbeach, delivering projects including Sierra Grand, Eclipse, Synergy, Qube, Koko, Opus and Malo, while its current pipeline includes Maison and the two-tower Crest development.</p>

<p>Further south, Morris has also developed a string of projects in Burleigh Heads, including Element, Boardwalk and Sandbar, while Essentia expanded its footprint north into Surfers Paradise.</p>

<p>The Seabeach Avenue application has been lodged by PMM Broadbeach Pty Ltd and seeks a development permit for a Material Change of Use for multiple dwellings, short-term accommodation and office uses. Zone Planning Group prepared the planning application, with Fraser &amp; Partners commissioned as architect.</p>

<p>The project comes as the developer continues to expand its Gold Coast pipeline while retaining a significant presence in Canberra. Morris now has more than $2.5 billion of development in its national pipeline and has delivered more than 7,000 homes during its near five-decade history</p>


Joel Robinson

First look: Morris Property Group returns to Mermaid Beach with new Seabeach Avenue apartment development

<p><a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developers/fortis&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw3hvFB2uWTRfEyEcpTSnnK9" href="https://www.apartments.com.au/developers/fortis" target="_blank">Fortis</a>&nbsp;is continuing its stronghold on Sydn​ey’s eastern suburbs apartment market, launching&nbsp;in September&nbsp;its latest boutique&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/developments/double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw0GI5S9-wNeiLUnM-d1uYkw" href="https://www.apartments.com.au/developments/double-bay-nsw-2028" target="_blank">Double Bay</a>&nbsp;development,&nbsp;<a data-saferedirecturl="https://www.google.com/url?q=https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028&amp;source=gmail&amp;ust=1787272340808000&amp;usg=AOvVaw2YNouJQcFjiTTgVHbgDLA-" href="https://www.apartments.com.au/new-apartments/55-william-double-bay-55-william-street-double-bay-nsw-2028" target="_blank">55 William</a>.</p>

<p>55 William presents&nbsp;just eight north-facing&nbsp;two-bedroom, three-bedroom and full-floor&nbsp;residences to the market, priced from $4.5 million.</p>

<p>The upcoming launch comes just weeks after Fortis secured approval for the $80 million development, its third eastern suburbs approval in two months. Construction is already underway, with completion targeted for 2028.</p>

<p>[smartcode_project:default project_id=152579 project_image_fid=376250]</p>

<p>55 William adds to a growing concentration of Fortis projects in and around Double Bay, a market the developer has become increasingly active in over recent years.</p>

<p>Fortis previously completed the nine-residence Marmont on New South Head Road, while it is currently developing a mixed-use residential and retail project at 12 Cross Street. Its wider Double Bay footprint also extends into commercial and retail development.</p>

<p>The developer's broader Sydney residential pipeline is particularly concentrated across the eastern suburbs, with projects spanning Doub​le Bay, Ro​se Bay, Wo​ollahra, Dar​ling Point, Poi​nt Piper and Eli​zabeth Bay.</p>

<p>[smartcode_project:default project_id=152579 project_image_fid=376253]</p>

<p>At 55 William, Fortis has again turned to MHN Design Union, the architecture practice behind several of its eastern suburbs projects, while London-based 1508 London has been appointed to handle the interiors and Wyer &amp; Co the landscaping.</p>

<p>The six-level building will comprise a combination of two and three-bedroom apartments, including a garden residence, full-floor apartments, a sub-penthouse and penthouse. Each residence will have secure basement parking and private outdoor space.</p>

<p>A rooftop terrace for all residents, along with select apartments, enjoys views across Double Bay Harbour and toward the Sydney skyline.</p>

<p>Ceiling heights will reach up to three metres&nbsp;in select residences, while the kitchens will feature natural stone and integrated Gaggenau appliances.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>The boutique nature of the project reflects the type of stock Fortis has increasingly targeted across Sydney's eastern suburbs, where larger apartments and smaller buildings are being pitched primarily toward local owner-occupiers and downsizers.</p>

<p>Fortis Group General Manager Ed Eve said the developer continues to see demand from buyers wanting to remain in the eastern suburbs but move into newer, lower-maintenance housing.</p>

<p>“We're seeing continued demand from local owner-occupiers and downsizers looking for high-quality homes that allow them to remain in the eastern suburbs, close to the lifestyle and community they know,” Eve said.</p>

<p>55 William is also one of the early projects to respond directly to the NSW Government's Low and Mid-Rise Housing reforms. Fortis had previously secured approval for just two townhouses on the 599 sqm site before revising the scheme to eight apartments following the planning changes.</p>

<p style="text-align:start">Situated one street back from Double Bay's water's edge, the project enjoys an enviable harbourside setting within walking distance of Double Bay Village and the ferry wharf.</p>

<p>[smartcode_project:default project_id=152579 project_image_fid=376252]</p>

<p>Fortis has increasingly made the eastern suburbs a major focus of its Sydney pipeline. Beyond Double Bay, it recently completed the 14-residence Piper in Point Piper and has projects underway or planned across Rose Bay, Woollahra and Darling Point.</p>

<p>The developer recently secured approval for Verano in Rose Bay, a six-level development comprising 21 two, three and four-bedroom apartments, also designed by MHNDU.</p>

<p>55 William&nbsp;is soon to be release to the market with VIP appointments commencing early September,&nbsp;with residences priced from $4.5 million.</p>

<p>[smartcode_project_cta:default project_id=152579]</p>


Fortis continues eastern suburbs push with 55 William launch

<p>UAE-based developer Arada has unveiled plans for a $2 billion twin-tower apartment development in Broadbeach, marking its first move into Queensland as it continues its rapid expansion across Australia.</p>

<p>Arada will develop 952 apartments across two towers on a prominent site opposite the Gold Coast Convention and Exhibition Centre, with the project targeted for completion ahead of the Brisbane 2032 Olympic and Paralympic Games.</p>

<p>The project represents Arada's largest commitment to the Australian market since arriving in the country in 2024 and significantly expands a local pipeline that has now grown to eight projects and more than 5,000 homes.</p>

<p>It will also be the first major Queensland project delivered by Roberts Co since the tier-one contractor was acquired by Arada Group in 2025.</p>

<p>Plus Studio has designed the Broadbeach development, which will comprise one, two and three-bedroom apartments across two towers connected by a landscaped podium.</p>

<p>A significant resident amenity offering will include lagoon and lap pools, a gym, sauna and steam room, alongside a mist room, infrared room and salt scrub facilities. Communal terraces, private dining areas, a library, residents' lounge and work-from-home spaces are also planned. Around 1,200 sqm of retail and hospitality space will occupy the ground floor.</p>

<p>The site puts Arada in one of the Gold Coast's most active apartment markets, directly opposite the convention centre and within walking distance of Pacific Fair, The Star Gold Coast and Broadbeach's dining and retail precinct.</p>

<p>It also has immediate access to the Gold Coast light rail network and sits just a few blocks from the beach.</p>

<p>Arada Group Chief Executive Ahmed Alkhoshaibi said Broadbeach represented an opportunity for the developer to expand beyond its initial NSW pipeline.</p>

<p>“Broadbeach is a world-class address that gives us the canvas to create a community of exceptional design and lifestyle quality that genuinely enriches the daily lives of the people who call it home,” Alkhoshaibi said.</p>

<p>“This is our first development outside New South Wales, and it reflects our growing ambition to grow in key urban markets around the country.”</p>

<p>Alkhoshaibi said bringing Roberts Co into the project would give Arada greater control over the development and construction process.</p>

<p>“Delivering this project through Roberts Co, our own tier-one construction business, means we can bring the quality, pace and accountability that our buyers expect.”</p>

<p>The move into Broadbeach comes as Arada accelerates its Australian expansion following its entry into the market two years ago. The developer has assembled a pipeline of eight projects comprising more than 5,000 homes, while the acquisition of Roberts Co last year gave the group its own Australian construction capability.</p>

<p>Globally, Arada has a development portfolio valued at $50 billion comprising more than 55,000 homes across the UAE, United Kingdom and Australia.</p>

<p>The Gold Coast is emerging as the next major market for the developer, with strong population growth and infrastructure spending ahead of the 2032 Games continuing to underpin significant apartment development across the coastal strip.</p>


Arada plots $2 billion Broadbeach towers in major Queensland move

<p>Sydney’s downsizer market is changing, with a growing cohort of buyers prioritising the right home over simply finding a smaller one.</p>

<p>Coronation Property Head of Sales Cam Porter says the traditional idea of downsizing does not necessarily reflect what many buyers are now looking for, particularly those moving from established family homes across Sydney.</p>

<p>Instead, he says they are increasingly becoming “right-sizers”, seeking lower-maintenance homes without sacrificing the space, amenity or quality they have become accustomed to.</p>

<p>“We are increasingly seeing buyers who are not motivated by the idea of simply moving into a smaller property,” Porter says.</p>

<p>“They are right-sizers. They want a home that is easier to manage and better connected, but they still expect generosity, quality and a floorplan that supports the way they live.”</p>

<p>It is a subtle but important distinction in a market where apartment developers are increasingly targeting established owner-occupiers.</p>

<p>[smartcode_project:default project_id=135149 project_image_fid=377495]</p>

<p>For many of these buyers, moving from a house to an apartment is not driven by a desire to dramatically reduce their living space. Instead, the appeal is in removing some of the maintenance associated with a larger home while retaining generous living areas, storage and enough flexibility to accommodate family and friends.</p>

<p>Coronation’s sales team is seeing buyers place particular importance on natural light, practical storage and additional rooms that can be used as guest bedrooms, home offices or secondary living spaces.</p>

<p>Kitchens and dining areas are also playing an increasingly important role, particularly for buyers who regularly entertain or have children and grandchildren visit.</p>

<p>[smartcode_project:default project_id=135149 project_image_fid=377494]</p>

<p>“These buyers still want their home to feel generous,” Porter says.</p>

<p>“They may want less maintenance, but they are not looking for less life.”</p>

<p>The challenge for the broader housing market is providing enough of the right stock to encourage that move.</p>

<p>While much of the discussion around Sydney’s housing shortage has centred on the number of homes being delivered, Porter says the diversity of those homes is equally important.</p>

<p>Older homeowners can remain in large family houses for longer when they cannot find an appropriate alternative in the neighbourhoods where they have built their lives.</p>

<p>“The decision is rarely as simple as wanting fewer bedrooms,” Porter says.</p>

<p>“People are weighing up their connection to a neighbourhood, the space they need for family, the quality of the home and whether it will continue to work for them over the long term.”</p>

<p>It also has implications beyond the downsizer market. Providing suitable apartments for smaller households can free up established houses for families who need the additional bedrooms and land, creating greater movement through the housing market.</p>

<h2>Lillian targets the next stage of apartment buyer</h2>

<p>It is a buyer Coronation is targeting at <a href="https://www.apartments.com.au/new-apartments/lillian-erskineville-9-metters-street-erskineville-nsw-2043">Lillian</a>, its new collection of apartments, terraces and penthouses at Erskineville Village.</p>

<p>Designed by Silvester Fuller, Lillian has been shaped around larger living spaces, natural light and flexible floorplans, alongside landscaped areas, wellness amenity and communal spaces for residents.</p>

<p>The development will form part of Coronation’s broader Erskineville Village precinct, which will combine new homes with green space, retail, hospitality and new pedestrian connections.</p>

<p>[smartcode_project:default project_id=135149 project_image_fid=377688]</p>

<p>McPherson Park will sit at the centre of the precinct, creating a significant new green space alongside the project’s retail and hospitality offering.</p>

<p>For Porter, the opportunity is to give buyers another housing option without forcing them to leave the part of Sydney they already know.</p>

<p>“People should be able to change the type of home they live in without having to change their entire life,” he says.</p>

<p>“For many buyers, Lillian offers the opportunity to remain connected to the Inner West and the city, while gaining access to a more convenient, walkable and considered way of living.”</p>

<p>[smartcode_project:default project_id=135149 project_image_fid=377687]</p>

<p>Coronation will explore the changing <a href="https://lillianresidences.com.au/news/lillian-x-space-x-downsizers-event-27-august/">right-sizer market at an event on August 27</a>, bringing together experts across property, design and lifestyle.</p>

<p>Held in partnership with SPACE, Poliform and Downsizer.com.au, the event will include a property market outlook from economist Michael Blythe alongside discussion around the considerations facing buyers planning their next move.</p>

<p>Attendees will also be able to learn more about the residences and amenity planned at Lillian Erskineville.</p>

<p>[smartcode_project_cta:default project_id=135149]</p>


From downsizing to right-sizing: What Sydney buyers want from their next home

<p>Family-owned builder and developer <a href="https://www.apartments.com.au/developers/omaya">Omaya</a> is bringing its 27-storey The Maybelle development to market, with the 229-apartment tower rising alongside Ismay Reserve near North Strathfield.</p>

<p><a href="https://www.apartments.com.au/new-apartments/the-maybelle-21-parramatta-road-homebush-nsw-2140">The Maybelle</a> will comprise one, two and three-bedroom apartments, with its height providing elevated outlooks towards the Sydney skyline and Harbour Bridge, while other residences will look across neighbouring Ismay Reserve.</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/squillace-architects">Squillace Architects</a>, the tower combines its parkside setting with proximity to the established retail, dining and transport amenity around North Strathfield.</p>

<p>[smartcode_project:default project_id=134873 project_image_fid=376196]</p>

<p>Residences will feature open-plan living spaces and a choice of two interior schemes, while communal amenity is spread across two elevated levels of the building.</p>

<p>Level 8 will be home to the Garden Pavilion, a full-floor resident space incorporating communal entertaining and breakout areas, seating and recreation spaces. Further up the tower, a landscaped Sky Terrace on Level 14 will provide another communal area with panoramic views towards the Harbour Bridge and Sydney skyline.</p>

<p>At ground level, the development sits directly alongside Ismay Reserve, where lawns, walking paths, children's play areas, picnic spaces and recreational facilities extend the green space available immediately around the project.</p>

<p>[smartcode_project:default project_id=134873 project_image_fid=376194]</p>

<p>The Maybelle is also within walking distance of North Strathfield and the Bakehouse Quarter, which provides a mix of cafés, restaurants, shops and everyday services.</p>

<p>Existing rail and bus services provide connections across Sydney, while the future North Strathfield Metro and access to the M4 will add to the transport options available around the precinct. Walking and cycling routes also extend via Powells Creek towards Sydney Olympic Park and its sporting, entertainment and parkland precincts.</p>

<p>Families are also well positioned for access to a broad selection of established schools and education options across Strathfield and the surrounding Inner West.</p>

<p>[smartcode_project:default project_id=134873 project_image_fid=376181]</p>

<p>Omaya has operated in Sydney for more than 35 years, managing projects from acquisition and design through to construction and delivery. The family-owned company is both developer and builder of The Maybelle.</p>

<p>Apartments start from $560,000, with the development protected by 10-year Latent Defects Insurance.</p>

<p>Construction is well underway, with completion expected by the end of 2026 and move-in anticipated from Q1 2027.</p>

<p>[smartcode_project_cta:default project_id=134873]</p>


The Maybelle brings 27-storey parkside tower to market near North Strathfield

<p>Prominent New Zealand apartment and hotel operator, <a href="/developers/safari-group">Safari Group</a>, is offering up a prime investment opportunity for Australians to purchase off the plan in one of the world’s most popular ski destinations.</p>

<p>They recently took to market Mountain Oak Queenstown Apartments, in the growing precinct of Remarkables Park in Frankton, near the airport and at the foot of The Remarkables - the mountain range the locals like to call “The Remarks”.&nbsp;</p>

<p>Sydney investors have shown interest in the one, two and three-bedroom apartments that secure high-season occupancy six months over the year, primarily over summer and winter months.</p>

<p>They average 90 per cent occupancy across their portfolio over January, February, March, August, November and December, while shoulder season months of April, July, September and October are still occupied 70 per cent of the time, with the growing appeal of Queenstown becoming not just a hotspot for the snow, but a lifestyle destination.</p>

<p>Even in the low seasons of May and June, occupancy levels reach around 40 per cent.</p>

<p><img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_auto/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Ext_Cam15_Sunny.jpg?VersionId=SJAROUM_1s.Tr5ciMk4EEj5oAt_Vewmv" /></p>

<p>Safari’s Safari Hotels arm can also manage the holiday letting for an investor, from the listing on holiday accommodation websites such as Airbnb and Booking.com to the cleaning and maintenance of the investment. They’ve been in the short stay management business for 15 years and offer 24/7 support for investors, an important convenience benefit for any overseas investor</p>

<p>Another major drawcard for Australians is that New Zealand doesn’t have a stamp duty policy - so the entry price of NZ$639,000 (AU$586,000), is all that is payable on completion.</p>

<p><img alt="Safari Group’s Mountain Oak Apartments brings new investment potential to Queenstown" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/313_Livingv2_WEB.jpg?VersionId=nV229fM0ZeYpoxOrX372HyGjfwY_LR8c" /></p>

<p>Safari is starting construction of the 141 apartments in Q2 this year, with a two-year build estimated to complete in mid-to-late 2027.<span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><span><img alt="" data-entity-type="" data-entity-uuid="" height="15" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXczFpFAb7WuA6f4f9TtKWcqXyNwR8qqtakWv352ERkpqNlP3KwIo8YKxw67jZNHfpjEGIZGv5MQTbnvLZwNt8iu9IVdOrswOjCvBZ4zhSoOOLrpt6etVEZTN1gkBho0r_R72zdHNA?key=yq3daOanqHSb88QFd8jGYKdb" title="Click and drag to move" width="15" /></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span><span><span><span><span><span>​</span></span></span></span></span></span></p>

<p>The apartments will feature modern amenities and contemporary designs with expansive windows capturing sweeping views of The Remarkables mountain range.&nbsp;</p>

<p>Interiors are equipped with modern finishes, premium appliances, and secure electronic key-locked doors, ensuring a comfortable living experience for residents and guests alike.</p>

<p>With its strategic location near Coronet Peak and Cardrona Alpine Resort, as well as key retail and dining precincts such as Market Street, Five Mile Shopping Centre, and Remarkables Market, Mountain Oak offers a strong proposition for investors seeking high rental yields and capital appreciation in one of New Zealand’s most sought-after locations.&nbsp;</p>

<p>Queenstown’s sustained demand for visitor accommodation and rental properties is underpinned by a shortage of housing options, attracting both local and international buyers.</p>


Safari Group offers low-touch investment proposition in Queenstown’s popular ski fields district

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<div>Although commentary often tends to focus on the dollar value of loans written in the housing market (which in the case of Sydney have been going through the roof) the actual number of home loans being written in Australia on a monthly basis is still some way below the levels seen across 2006-8. </div>
<div> </div>
<div>In Sydney home loan volumes have even been tracking well below where they were in 2003 when the headount of the harbour city was considerably smaller, though the past two months of figures have recorded a big surge which is not yet fully reflected in the trend data. </div>
<div> </div>
<div>Looking at the high level figures the trend in home loan volumes has generally been up for the three most populous states since 2012, but transaction volumes can hardly be said to be high compared to where they have been in the past. </div>
<div> </div>
<div>Volumes have been trending down in Western Australia since July 2014, while the trend in the Northern Territory for want of a better word has "crashed" by a third since September and is threatening to soon take out the lowest levels seen in more than a decade. </div>
<div> </div>
<div>Home loan activity levels in South Australia are...flatlining. </div>
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<div><a href="/images/2015/09/15/HF1.jpg" target="_blank">Click to enlarge</a></div>
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<div><img src="/images/2015/09/15/HF1.jpg" alt=""></div>
<div> </div>
<div><span>A similar pattern is also evident when looking at the below chart of home loans by property type, with home loans to purchase established properties in a multi-year uptrend but still not even close to previous heights.</span></div>
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<div><a href="/images/2015/09/15/hf5.jpg" target="_blank"><span>Click to enlarge</span></a></div>
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<div><span><img src="/images/2015/09/15/hf5.jpg" alt=""></span></div>
<div> </div>
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<div>
<div><strong><span style="text-decoration: underline;">Stamp</span></strong></div>
<div> </div>
<div>There are a number of reasons for these muted home loans volumes, not least the more significant market share of investors seen through this cycle in Sydney and Melbourne in particular.</div>
<br><span>I'll offer another: stamp duty.</span><br><br><div>With rising property prices already pushing the boundaries of detached housing affordability in Sydney and Melbourne close to breaking point, stamp duty - a levy which is ratcheted up as the purchase price increases - acts as a further disincentive to trade.</div>
<div> </div>
<div>This has long been an issue in London at the premium end of the market, where plainly ridiculous<a href="https://www.gov.uk/stamp-duty-land-tax/residential-property-rates" target="_blank"> </a>rates of stamp duty above GBP 925,000 absolutely discourage buying and selling, and instead encourage owners to sit on prime location sites for as long as they feasibly can. </div>
<div> </div>
<div>I can't speak for others, but certainly whenever I've written a stamp duty cheque to the OSR the last thing I am thinking of is subsequently selling a property, and indeed neither my wife nor I have ever sold a property in 19 years, in part for that very reason.</div>
<div> </div>
<div>While stamp duty can serve one useful purpose in making the market more stable and less attractive to "flippers", it also discourages labour market mobility and creates a royal pain in the tail for homeowners who are required relocate for work. </div>
<div> </div>
<div>Arguably both homeowners and investors are becoming more inclined to such buy and hold strategies while accepting that there will be inevitable market downturns, in part because the transaction costs are so punitive: buy, hold, and hold some more. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">First homebuyers</span></strong></div>
<div> </div>
<div>On a related note, the share of first homebuyers loans in the market has trended down to 15.4 per cent, which is at least a couple of full percentage points below what was seemingly becoming the norm before the financial crisis struck (whereupon market incentives led to an enormous spike in first homebuyer market share). </div>
<div> </div>
<div>We know that the data may be incompete, but affordability - and specifically the deposit hurdle - is playing an obvious role here too, nudging a proportion of first time buyers towards buying an investment property as a first step onto the housing ladder instead of a place of residence. </div>
<div> </div>
<div><a href="/images/2015/09/15/HF3.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/09/15/HF3.jpg" alt=""></div>
<div> </div>
<div>
<div>Stamp duty is a key consideration for first homebuyers or new market entrants too.</div>
<div> </div>
<div>It is often said or implied that first homebuyers should start with an entry level property and then look to trade up later, but with the average first homebuyer <strong>loan</strong> <strong>size </strong>now passing $340,000, new entrants to to the market must be seriously considering how many times in their lives they want to be trading property. I know that I would be. </div>
<div> </div>
<div><a href="/images/2015/09/15/HF4.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/09/15/HF4.jpg" alt=""></div>
<div> </div>
<div>
<strong><span style="text-decoration: underline;">Dwelling starts to peak in 2015</span></strong><br><br><div>A number of forecasts and indicators have suggested that dwelling starts could peak in 2015, and the new dwellings data does not contradict them, although with so many new builds being sold offshore to Asia through this cycle arguably this data series is a less useful indicator than it once was. </div>
<div> </div>
<div><a href="/images/2015/09/15/HF2.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/09/15/HF2.jpg" alt=""></div>
<div> </div>
<div>
<span>Construction loans written to owner-occupiers have also been trending down in recent months.</span><br><br><div>On the other hand the rise in property prices and associated equity gains has for some time been predicted to cause a renovations boom. Certainly this is what we witnessed through 2003 as the preceding Sydney market boom approached its peak. </div>
<br><div>There has already been a decent uplift in renovations activity in Sydney, but the "alts &amp; adds" figures to date have barely even hinted at much going on elsewhere. </div>
<div> </div>
<div><a href="/images/2015/09/15/HF6.jpg" target="_blank">Click to enlarge</a></div>
<div><img src="/images/2015/09/15/HF6.jpg" alt=""></div>
<div> </div>
<div><span>Driving around Brisbane it certainly "feels" as though there is more renovation work underway, but this may just be good old anecdotal evidence giving a bum steer. </span></div>
<div><span> </span></div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
</div>
</div>
</div>
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Property hot, but volumes not: Pete Wargent

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<p>It’s danger time for investors tempted to buy high-rise apartments on the Gold Coast. </p>
<p>There are few entities more skilled in the art of seduction than the Gold Coast propaganda machine. </p>
<p>What makes it doubly dangerous is that the Gold Coast can spin a pretty plausible story right now, as long as it ignores its appalling record on capital growth.</p>
<p>There’s the high level of spending on infrastructure. There’s the billions that corporations, both Australian and foreign, want to throw at casinos, resort hotels, cruise ship terminals and mega high-rise apartment blocks. There’s the marketing appeal of the 2018 Commonwealth Games.</p>
<p>Marketers can pull together some credible-sounding data which suggests that the oversupply of the past has been soaked up and that markets are growing again.</p>
<p>The marketing machine will have little trouble mounting a case that the market is beyond recovery and is rising rapidly. And there is no shortage of gun-for-hire companies purporting to be independent and willing to make a statistics-based case for the viability of all those new mega towers.</p>
<p>Last week a report claiming the Gold Coast will need another 133 apartment towers just to cope with the impending population boom got widespread media coverage. It’s amazing how readily media will take a piece of crystal-ball-gazing and turn it into fact for consumption by a gullible public.<span style="line-height: 1.3em;"> </span></p>
<p>A bullish and self-serving forecast was converted into a statement that the population <span>will</span> jump 76% in the next 20 years. And “many of those people <span>will</span> need to be housed in high-rise apartments” and the population growth <span>will</span> “mean demand for 156,000 new dwellings to cope with the influx”.</p>
<p>I wonder how many investors will pause to consider the outcome if those predictions are wide of the mark. Population projections are never accurate. Even in the short periods between the official census counts, government and private sector population estimates are shown to be faulty, and sometimes wildly inaccurate.</p>
<p>Property investors are essentially herd animals and the impulse to follow the pack as it starts to stampede towards the latest Gold Coast mirage will be irresistible for many. The FOMO Syndrome will drive too many to pay too much for generic high-rise dwellings in an oversupplied market and spend the next five to ten years regretting it.</p>
<p>It’s all happened many times before on the Gold Coast. But investors seldom learn the lessons of history, in some cases because they are blissfully ignorant of it.</p>
<p>They need to know that the Gold Coast has not yet fully emerged from the most recent glut of high-rise apartments, one that has taken six years to absorb. In that time property values have gone backwards in all the major high-rise suburbs – and are still in reverse.</p>
<p>Two major research sources – Australian Property Monitors and the Real Estate Institute of Queensland – confirm that the median prices for apartments Surfers Paradise, Main Beach, Broadbeach and Southport remain significantly lower than they were five years ago.</p>
<p>And prices are still falling. In the past 12 months, prices have fallen further in Surfers Paradise (down 2.9%), Main Beach (down 4.1%) and Southport (down 4.3%). </p>
<p>In the cases of both Surfers Paradise and Broadbeach, apartments are worth less today than they were in 2005. For both Main Beach and Southport, prices are still at the same levels as 10 years ago. The investors who bought in these locations a decade ago have had no capital growth at all. How many markets can you say that about?</p>
<p>In Surfers Paradise, prices fell in the past three months, the past 12 months ago, the past three years, the past five years and the past 10 years. Not a single growth figure to be found. Of all the big-name markets around Australia, perhaps only Noosa on the Sunshine Coast is a bigger dud.<span style="line-height: 1.3em;"> </span></p>
<p>Those who bought in the Gold Coast high-rise markets five years ago have lost a lot of money. In Main Beach, the median unit price has dropped from $652,000 in 2010 to $561,000 today. The average punter is $91,000 worse off. There are similar results for Surfers Paradise, Broadbeach and Southport.</p>
<p>And it’s all about to happen all over again. Only this time, the outcomes will be worse, because the towers being built are larger and more numerous.</p>
<p>For investors who are susceptible to a strong marketing pitch, it’s time to be afraid, be very afraid.</p>
<p><em>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em></p>
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Beware the Gold Coast propaganda machine: Terry Ryder

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<p>A private investor has paid $1.83 million at auction for a childcare centre in the Melbourne suburb of Thornbury.</p>
<p>The site, 200 Smith Street, was sold <span style="line-height: 1.3em;">fully-leased on a ten year term at a current annual rental of $71,461.</span></p>
<p><span style="line-height: 1.3em;">Savills’ Julian Heatheric </span><span style="line-height: 1.3em;">said the 1190 square metre landholding with CBD views has a prized inner-northern suburban location and also offered significant future development potential.</span></p>
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Thornbury childcare centre sells for $1.83 million

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<p>Some 27 retail strip properties have sold for a total value of $60.098 million in the last three months in Melbourne's inner-east region, driven from the sub $5 million commercial investment market.</p>
<p>Teska Carson executive, Matthew Feld said buyers had paid $300,000 to $500,000 over reserve for property within the area, with one buyer, an off-shore fund, paying $3.4 million - more than $600,000 over reserve - on a very skinny 2.9% yield for a fully leased retail property on Lonsdale Street.</p>
<p><span style="line-height: 1.3em;">"In the latest (unreported) auctions a Hong Kong based private investor has paid $4.8 million on a tight 4.35% yield for a retail and office investment at  669-671 Glenferrie Road, Hawthorn, while an owner-occupier paid $1.07 million to fight off investors for a stand-alone retail/commercial property at 335 Swan Street, Richmond," he said.</span></p>
<p><span style="line-height: 1.3em;">"There are a combination of factors at work here but the key drivers have been the increase in competition from the sheer rise in numbers of investors – including a significant uptick in numbers of overseas and SMSF investors over this time last year - and also the current lack of quality stock."</span></p>
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Sub $5 million commercial market strong in Melbourne

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<p><span>So far this week, 2,127 capital city auction results have been reported to CoreLogic RP Data, resulting in a preliminary auction clearance rate of 72.1% across the combined capital cities. </span></p>
<p><span>There were a total of 2,615 capital city auctions held this week. This week’s result indicates that clearance rates are no longer tracking higher than they were one year ago, when the final auction clearance rate over the week was 72.3% across 2,080 auctions. Over the previous week there were 2,297 auctions with a clearance rate of 73.2%.</span></p>
<p><a href="/images/2015/09/14/20150914-Capital-city.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/09/14/20150914-Capital-city.jpg" alt="" width="840" height="635"></span></p>
<p> </p>
<p><span>In </span><strong>Melbourne</strong><span>, Australia’s largest auction market, a preliminary auction clearance rate of 73.7% was recorded across 1,181 auctions this week. Last week, Melbourne’s final clearance rate was recorded at 75.1% across 992 auctions, while this time last year, 1,018 properties were taken to auction across Melbourne and a clearance rate of 73.4% was recorded. The busiest Melbourne sub-regions this week were Melbourne’s Inner region and the Inner South region, where 248 and 210 auctions were held respectively. Across these two sub-regions, the preliminary clearance rates were 71.2% across the Inner region and 71.8 per cent across the Inner South.</span></p>
<p><a href="/images/2015/09/14/20150914-Melbourne.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/09/14/20150914-Melbourne.jpg" alt="" width="817" height="545"></span></p>
<p> </p>
<p><strong>Sydney’s</strong><span> preliminary auction clearance rate was 75.1% this week, the 10th week in a row where Sydney has recorded a result below 80%. Last week, Sydney’s clearance rate was 76.9%, while one year ago, results show that 78.4% of Sydney homes taken to auction were successful. In terms of the number of auctions across the city, this week volumes were higher, up to 1,046 from 1,023 last week. One year ago just 743 Sydney homes were taken to auction over the week. The Northern Beaches sub-region of Sydney has shown the strongest performance so far this week, with 84.4% of the 45 reported results selling, with 18 remaining results yet to be collected.</span></p>
<p><a href="/images/2015/09/14/20150914-Sydney.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/09/14/20150914-Sydney.jpg" alt="" width="828" height="561"></span></p>
<p> </p>
<p><strong>Brisbane’s</strong><span> preliminary clearance rate this week was 54.9%, up from 42.9 per cent last week. There were 178 Brisbane auctions this week, compared to 130 last week. The </span><strong>Gold</strong><span> </span><strong>Coast</strong><span> was host to 73 auctions this week. Based on the results reported to CoreLogic RP Data so far, 46.5% have been sold.</span></p>
<p><a href="/images/2015/09/14/20150914-Brisbane.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/09/14/20150914-Brisbane.jpg" alt="" width="808" height="548"></span></p>
<p> </p>
<p><span>This week, </span><strong>Adelaide</strong><span> saw a preliminary clearance rate of 62.0%, with 71 reported results across a total of 88 scheduled auctions. In comparison, over the previous week Adelaide’s clearance rate was 69.5% and 64.3% one year ago.</span></p>
<p><a href="/images/2015/09/14/20150914-Adelaide.jpg" target="_blank"><span>Click to enlarge</span></a></p>
<p><span><img src="/images/2015/09/14/20150914-Adelaide.jpg" alt="" width="799" height="536"></span></p>
<p> </p>
<p>There were 35 <strong>Perth</strong> auctions this week and so far 13 results have been reported, with 61.5% selling. Last week there was a 36%clearance rate for Perth.</p>
<p>Across <strong>Canberra</strong> a total of 79 auctions were held this week, compared to 52 last week and 51 at the same time last year. Canberra’s preliminary clearance rate of 63.6% is lower than it was the previous week (71.7%).</p>
<p>In <strong>Tasmania</strong>, 5 auctions were reported to CoreLogic RP Data with 4 sales. Last week, 5 auctions were reported with only 1 sale.</p>
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Auction volumes rise to 2,615 across capital cities: CoreLogic RP Data's Shana Miller

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<div>
<em>CoreLogic-RP Data</em> reported a preliminary auction clearance rate of 75.1% for Sydney on Saturday with more than 1,000 auctions held over the week.</div>
<div> </div>
<div>APRA's cooling measures will hit lower socio-demographic areas first as lower income earners struggle with the deposit hurdle.</div>
<div> </div>
<div>The first region to go in Sydney will be the south west, and to a lesser extent the west.</div>
<div> </div>
<div>On the other hand the traditionally wealthier suburbs of the lower north shore, the eastern suburbs, and the inner west are poised to hold up much better. </div>
<div> </div>
<div>Unsurprisingly further research from the Domain Group showed that auction clearance rates held up to track at exceptionally high levels in the inner west (82.8 per cent), the lower north shore (82.3%), the northern beaches (79.6%) and the city &amp; east region (77.9%).</div>
<div> </div>
<div>On the other hand over the past two weeks auction clearance rates have tanked in the west (from 76.9% to just 66.3%), and particularly in the south west (from 69.8% to just 54.9%.</div>
<div> </div>
<div><a href="/images/2015/09/14/Auctions.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/09/14/Auctions.jpg" alt=""></div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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APRA measures to hit lower income suburbs: Pete Wargent

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<p>Some of you may remember a television advertisement that appeared many years ago that went like this – “So you think you’re a good driver? Try this quick quiz.”</p>
<p>In many ways this applies to the real estate industry and what some of us apply to working out just where our markets are headed. Just like a motor vehicle we constantly check the fuel gauge to see how much fuel is in the tank.</p>
<p>You can’t rely on many of the commentators given at best their analysis is weak and lacks clarity and confirmation, given a large proportion is at best guess work. So how do some real estate agents try to better understand how and where the market is headed? Simply we go straight to a major information data source that being the dominant home loan companies who finance the property markets.</p>
<p>This week, I spoke with Alex Nochar who is Managing Director of Shore Financial who are one of the biggest lenders in our market demographic. First question – how many millions of dollars of housing loans do you presently have on your books that are pre – approved and actively looking to buy? The answer just over $270 million. Second question – what is the pre – approved value for Mosman and the adjoining areas? That number is just over $80 million.</p>
<p>That does not include the many applications that are awaiting approval and being processed although what we do take from this is that this is just one individual lender and does not include the big banks and or private banks. We will be attempting in coming weeks to find out just how many millions of dollars there are in pre – approved loans for Mosman real estate.</p>
<p>This tells us that there is still plenty of growth in our markets although it is quite surprising that one never hears of this method of better understanding our property markets. Can you imagine what the figure would be for the total Sydney area and how interesting this would be if the total numbers for each real estate demographic market were published on a weekly basis?</p>
<p>There is no clear patterns emerging across Sydney given some are experiencing strong stock levels and many others weak stock levels. For example, over the last four years we are seeing housing stock numbers declining in Mosman. This week there are 56 houses on the market, this time last years there were 65 houses on the market, the same week in 2013 there were 77 houses on the market and the same week in 2012 there were 120 houses on the market. In 2012 Mosman recorded 33 weeks with more than one hundred houses on the market. In 2015 it is looking like we won’t crack one hundred houses on the market once – the highest number this year so far has been 84 back in March.</p>
<p>With interest we should be watching the stock market in China which has lost approximately 40 per cent in the last three months, where when we see stock market corrections money is then diverted into real estate. The latest Foreign Investment Review Board (FIRB) annual report showed that the total value of investment proposals in 2013/14 soared to $167.4 billion which is an increase of 23.4 per cent. No surprises to note that China is now the biggest player foreign based buyer of Australian real estate with foreign investment in commercial and residential real estate doubling from $37.5 billion to $74.6 billion.</p>
<p>Recently a research paper was released that Chinese purchases totaled just 2 per cent of all transactions in 2014 according to data from the FIRB. Well that’s interesting although the real story is what the Australian Taxation Office reveals once they have completed their forensic investigation into illegal overseas acquisitions. Those who acquired property illegally have until 1 November 2015 to come forward and avoid prosecution. It will be very interesting to see how many are prosecuted and the numbers of apartments and houses that come back onto the market. I’m predicting that this number will be significant and illegal purchases will be much higher than first envisaged. Watch this space!</p>
<p>I wouldn’t be overly concerned with the recent use of that ‘recession’ word given it’s hard to see this happening anytime soon. We know that to technically be in recession the next two quarters in real GDP will need to return two quarters of negative growth in GDP. The next quarter’s GDP results are out on December 2 and the next on March 2 – so let’s wait until then before we start using that “R” word.</p>
<h5>MOSMAN – 2088</h5>
<p>• Number of houses on the market this time last year – 65</p>
<p>• Number of houses on the market last week – 66</p>
<p>• Number of houses on the market this week – 56</p>
<p>• Number of apartments on the market this time last year – 47</p>
<p>• Number of apartments on the market last week – 47</p>
<p>• Number of apartments on the market this week – 49</p>
<h5>CREMORNE – 2090</h5>
<p>• Number of houses on the market this time last year –10</p>
<p>• Number of houses on the market last week – 4</p>
<p>• Number of houses on the market this week – 6</p>
<p>• Number of apartments on the market this time last year – 15</p>
<p>• Number of apartments on the market last week – 19</p>
<p>• Number of apartments on the market this week – 20</p>
<h5>NEUTRAL BAY – 2089</h5>
<p>• Number of houses on the market this time last year – 7</p>
<p>• Number of houses on the market last week – 5</p>
<p>•Number of houses on the market this week – 2</p>
<p>• Number of apartments on the market this time last year– 33</p>
<p>• Number of apartments on the market last week – 35</p>
<p>• Number of apartments on the market this week – 37</p>
<p> </p>
<p><em><span>ROBERT SIMEON</span> is a director of </em><em><a href="https://www.rwm.com.au/" target="_blank" title="RWM" rel="nofollow">Richardson Wrench Mosman and Neutral Bay</a> </em><em>and has been selling residential real estate in Sydney since 1985. <br>He has also been writing real estate blog </em><em><a href="https://www.rwm.com.au/news/" target="_blank" title="Virtual Realty News" rel="nofollow">Virtual Realty News</a> </em><em>since 2000. </em></p>
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Property markets need more truth, less dare: Robert Simeon

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<p><span style="line-height: 1.3em;">With each property development we manage, we'll fine tune the process so that on the next one, we'll do something a little differently to improve the results. </span></p>
<p><span>After completing over 80 developments, our process has become pretty refined. But there is always something we can improve on. </span></p>
<p><span>Sometimes they are just small tweaks that can make a massive difference. This particular example I'll share with you shaved literally a month off the planning process.</span></p>
<p><span>At Property Bloom we work across a number of different councils and each council has their own way of looking at and processing a Development Application (DA). It can be easy to make assumptions based on past experience. </span></p>
<p><span>So when we started working in a new location that fell under a council we'd not yet worked with, we assumed they'd review our plans in the same fashion as the other councils. The first few DAs (all assigned to different town planners) were processed within about 7-8 weeks on average. This is a lot longer than we liked but still not as bad as another council's processing times. It fell somewhere in the middle of our best and worst processing times. </span></p>
<p><span>The time your DA is in council is dead time, there is not too much you can do whilst you wait for the consent in case changes need to be made. We tend to use this period to choose material and colours.</span></p>
<p><span>Even after working with some councils for ten years, it will come down to the individual town planner who is assessing your DA and what they like to see marked on your plans. If they request 'more Information' then your DA is put on hold until they receive a response.  </span></p>
<p><span>This particular DA was assigned to a planner we'd not yet worked with at this council. We received a letter requesting more information on off street parking locations. The plans detailed a single garage for each villa. The requirements are to provide two parking spaces. Obviously one is in the garage - but here's where our assumption kicked in -  we thought the planner could 'see' that the second space was on the driveway as a stacked or tandem parking space.  </span></p>
<p><span>We quickly marked this on the plan and immediately sent it to the planner, and within three days we had the DA Consent on our desk. This set a record of processing time with this council - four weeks, down from eight weeks. </span></p>
<p><span>It goes without saying that this was added to our list of what to include on the plans and we made a mental note never to assume. We are now a month ahead of schedule and our client is happy to save time and holding costs.</span></p>
<p><span><em>Jo Chivers is chief executive officer of property development project managers <a href="https://www.propertybloom.com.au/about" target="_blank">Property Bloom</a>.</em></span></p>
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Drop assumptions and save time on your planning process: Jo Chivers

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<div>The ABS released its Labour Force data for August 2015, which came in somewhat better than had been expected. </div>
<div> </div>
<div>The market had feared material downward revisions to employment figures following amendments to population growth assumptions, but happily in the event the impact was fairly benign.</div>
<div> </div>
<div>It is nevertheless worth looking at the revised data in the long run employment chart below to show the new shape of the chart...which is to say, essentially very similar.</div>
<div> </div>
<div>Total employment was revised down, but over the year total employment still increased by +235,000 or +2.0% (up from +1.8% in the year to July), an impressive headline figure and the strongest annual increase in the seasonally adjusted data series since April 2011.</div>
<div> </div>
<div>Handily this rate of employment growth is now far ahead of the rate of population growth, which following the latest Arrivals &amp; Departures (see link for more) figures I now estimate to be tracking at only around +1.3%.</div>
<div> </div>
<div><a href="/images/2015/09/11/A1.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/09/11/A1.jpg" alt=""></div>
<div> </div>
<div><span>Employment rose by +17,400 in August following an upwardly revised gain in employment of +39,200 in August, which is a fine result in the circumstances and well ahead of market expectations of +5,000.</span></div>
<div><span> </span></div>
<div><a href="/images/2015/09/11/LF3.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div><span><img src="/images/2015/09/11/LF3.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div><span>Full time jobs accounted for most of the monthly gains, and over the past year there have been more full time jobs created (+130,700) than part time positions (+104,200) - although as you can see below part time employment is taking a more significant role in the labour force than it once did. </span></div>
<div><span> </span></div>
<div><a href="/images/2015/09/11/A4.jpg" target="_blank"><span>Click to enlarge</span></a></div>
<div><span> </span></div>
<div><span><img src="/images/2015/09/11/A4.jpg" alt=""></span></div>
<div> </div>
<div> </div>
<div>
<div class="separator"><strong><span style="text-decoration: underline;">State versus state...&amp; the unemployment rate</span></strong></div>
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<div class="separator">The net employment gains in August were mainly accounted for by Queensland (+11,200) and New South Wales (+9,200), with the New South Wales economy adding a thunderous +118,800 jobs over the past year, more than half of the total for Australia, and overwhelmingly full time positions.</div>
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<div class="separator">Victoria (+63,000), Western Australia (+22,100) and Queensland (+20,700) also added net employment over the past year, but South Australia has gone backwards over the same time period. </div>
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<span>I have been warning here for at least a couple of years now that the longer this ugly dynamic continues and without a kickstart for the local economy the greater the fallout could be in terms of South Australian unemployment. </span><br><span><br></span><span>Amazingly there were more full time employed persons in Q4 2007 in South Australia than there are today. </span><br><span><br></span><span>The below graphic shows that while the New South Wales economy has added a stonking +267,200 jobs over the past five years, the two southern states combined have added essentially none. </span>
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<div>That said, with the depreciating dollar the outlook for Tasmania has improved considerably over the past 18 months, and without sigificant population growth to be absorbed the trend unemployment rate in the Apple Isle has declined from a peak of 8.1 per cent in August 2013 to just 6.5 per cent today.<br><br>That's great to see.</div>
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<div>Unfortunately the same cannot be said for South Australia where the trend unemployment rate has spiked alarmingly from 6.6 per cent to 8.1 per cent and rising in less than a year. </div>
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<div>Concerningly it appears likely that there may yet be worse to come as the "Holden effect" takes its toll across the suburbs of Adelaide, with mining and manufacturing two of the worst hit sectors of the labour market.</div>
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<div>The unemployment rate in resources rich Western Australia has also continued to trend up to 6.1 per cent from just 3.7 per cent in June 2012. </div>
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<div>New South Wales has been the clear standout despite soft regional employment growth, with low interest rates allowing the Sydney economy and housing market to fire on all cylinders. </div>
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<br>At the national level despite some statistical noise along the way the trend unemployment rate has now been steady for the past 12 months at 6.2 per cent.</div>
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<div>With the rate of employment growth comfortablt outpacing the rate of population growth, has the unemployment rate therefore peaked for this cycle? Perhaps, but the jury is still out on that one. </div>
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<div><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
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<div>This was a robust result with the economy adding a sprightly +235,000 jobs over the past year and with corresponding important implications for monetary policy settings. </div>
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<div>Had the unemployment rate jumped higher as had been anticipated by some analysts prior to this release then the Reserve Bank may well have been inclined to pull the trigger on further interest rate cuts.</div>
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<div>Fortunately in the event the labour force figures were considerably better than had been feared and markets now appear fairly certain that interest rates will stay on hold at 2 per cent through October. </div>
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<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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Unemployment falls back to 6.2%: Pete Wargent

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<p><span>Businesswoman Patricia Ilhan has sold her Melbourne CBD investment premises to a local investor for close to $9.5 million.</span></p>
<p><span>The historic four-level building at 362 Little Collins Street returns annual gross rent of around $400,000.</span></p>
<p><span>It was formerly part of a series of buildings occupied by the city's McEwan's hardware store.</span></p>
<p><span><a href="/expert-insights/investing/patricia-iihan-lists-362-little-collins-street">It was sold by Vinci Carbone Property</a></span><span>.</span></p>
<p><span>The campaign generated over 100 enquiries for her four-level Melbourne office building set adjacent to Brookfield Multiplex's new 39 level development.</span></p>
<p><span>Set between Queen and Elizabeth streets, the 312-square-metre block has airspace development potential.</span></p>
<p><span>It was expected to sell for more than $8 million having been bought for $4.4 million in 2009.</span></p>
<p><span>She is believed to be selling the prime CBD property to reinvest in another commercial property.</span></p>
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