Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.

Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;

David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;

“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;

[smartcode_project:default project_id=110291 project_image_fid=302785]

<h2>Affordable product leads, premium demand remains resilient</h2>

Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;

Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;

At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.

Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.

Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;

[smartcode_project:default project_id=148957 project_image_fid=364102]

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.

David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.

“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;

Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.

[smartcode_project:default project_id=108869 project_image_fid=317905]

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;

Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;

However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.

Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;

Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.

The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.

Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.

“Brisbane was the right step for Sammut,” Sammut said.

“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”

<img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" />

Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.

The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.

“We are DA approved now which is very exciting,” Sammut said.

“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”

<img alt="Sammut makes Brisbane apartment play" 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/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" />

Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.

“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.

The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.

“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”

The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.

The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.

Sammut secures approval for debut Brisbane apartment development in Toowong

Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.

Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.

The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.

“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.

“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.

“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”

The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.

“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”

From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.

“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”

The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.

“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.

Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.

“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.

“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”

The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.

“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.

Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.

&nbsp;

Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.

The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.

It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.

With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.

“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.

“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" />

GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.

“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”

Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.

“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.

<img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" />

&nbsp;

One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.

Green praised local policy settings.

“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”

One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.

“The way we will be able to achieve economies of scale is through size,” Green added.

One Living enters Sydney's new apartment market with Northern Beaches site acquisition

It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.

Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.

Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be

"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.

"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."

[smartcode_project:default project_id=134646 project_image_fid=6109]

The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.

The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.

Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.

[smartcode_project:default project_id=134646 project_image_fid=6110]

Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.

The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.

[smartcode_project:default project_id=134646 project_image_fid=6116]

While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.

WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.

With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.

[smartcode_project_cta:default project_id=134646]

WM Residences fills gap in Mordialloc townhouse market

Housing Affordability

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The public in NSW has more time to have its say on a discussion paper that proposes to support improved housing supply, affordability and diversity.
The discussion paper was released in late November on fast-tracking delivery of housing options such as terraces, often referred to as medium density or ‘the missing middle’, under the state’s complying development assessment process.
Terraces and villas are more energy efficient than detached houses, and medium density housing also offers more variety and flexibility for Sydney’s changing demographics.
The discussion paper provides details of the proposed standards and other requirements for these types of homes.
A Department spokesperson said there have been requests to extend the exhibition period, to allow more time to comment on the discussion paper.
“We want to encourage as many people as possible to spend time looking over the discussion paper and providing their feedback.”
The discussion paper is now on exhibition until Tuesday 1 March.
To view the Discussion Paper and provide feedback <a href="https://www.planning.nsw.gov.au/proposals" target="_blank">visit here</a>.
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jchancellor-FAypfDUnLy

Property 101: NSW townhouse review continues

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GUEST OBSERVATION
To see Australia’s shortage of affordable housing as a failure of government is to misunderstand the politics that underpin housing.
The vast proportion of government money spent on housing directly benefits the well-off at the expense of private renters and public housing tenants.
Government policy has not, on the whole, failed. It has been a huge success insofar as protecting the opportunities for speculative investment and profit for homeowners and private landlords.
If the government was serious in wanting to end the housing crisis it would need to invest in new social housing and pursue measures that choke off, via tax reform, the opportunities for profiteering currently enjoyed by landlords and homeowners.
The pursuit of these options would be bitterly opposed – not least by many homeowners and property investors, as it would lead to a fall in house prices.
<h2>Why this misdiagnosis persists</h2>
The government’s current housing response can be viewed as a charade. Ministers have been able to convince many that the government is working hard to put in place measures to fix the problems faced by low-income households.
There are two discernible ways that the government has maintained this charade. The first is by permeating an impression that action will be forthcoming. Social Services Minister Christian Porter recently announced that he would be establishing a working group to explore ways to improve the availability of affordable housing.
Porter’s working party should come as no surprise. Over many years, governments have undertaken many reviews and enquiries.
Second is the recycling of a set of myths. Among these is that public housing is a failed policy that reinforces welfare dependency and that state and territory planners impose arbitrary rules and regulations that impede new housing development.
Public housing and planning regulation are framed as dysfunctional. We are told that affordable housing would be built quickly if the commercial sector were not impeded by bureaucratic demands.
Should we discard statements from the government that effective reforms are underway and recognise that the prospects for low-income Australians will deteriorate over the coming years? Already there are as many as 105,000 people who are without a home and 160,000 households on public housing waiting lists. The overall stock of public housing had fallen from 331,000 units in 2007-08 to 317,000 in 2013-14.
The Productivity Commission estimated that the proportion of low-income households in housing stress – that is, those that pay more than 30% of their income on housing-related costs – increased from 35% in 2007-08 to 42% in 2013-14.
In its 2012 report, the former National Housing Supply Council highlighted that between 2002 and 2012 rents increased in nominal terms by 76% for houses and 92% for flats. And the median value of a home in Australia is now A$576,100.
<h2>Sticking to the script</h2>
There are already signs in 2016 that the government intends on sticking to the usual script – one that frames the affordability crisis as stemming from a shortage of land, excessive red tape, and high labour costs within the building industry.
Acting Cities Minister Greg Hunt recently identified three critical elements that require government attention. One – land release. Two – the cost of building – and this is in particular in relation to the inner city apartments where there is an urban infill. The third is bureaucracy.
Hunt’s attribution of the causes of the housing affordability crisis are broadly in line with the pronouncements of finance, developer and real estate lobbyists. All have made similar claims and work tirelessly to safeguard the opportunities for profit-making that exist when housing is in short supply.
It is no coincidence that supply-side interventions, such as sustained investment in public housing, have been eschewed in favour of demand-based subsidies. The latter includes initiatives such as Commonwealth Rental Assistance and inputted tax subsidies that enable landlords to boost their profits, alongside first homeowner grants and the exemption of capital gains tax for owner-occupiers when they sell their home. This amounted to A$54 billion of revenue forgone in 2016.
For those who wish to reap profits from their housing investment, there are good reasons to maintain the status quo; for a shortage of supply to continue and for public housing to remain a stigmatised tenure only available for those without any recourse elsewhere.
Stressing land release as a significant cause of the affordability crisis is misleading but not surprising. This is the claim repeated by developers who wish to increase their profits. It is not uncommon for developers to delay development plans on land they have acquired on the expectation that the opportunity to secure greater profits will accrue when the land value increases at a later stage.
It is disappointing that Hunt offered such a myopic explanation of the housing affordability crisis. A more insightful analysis would attend to the failure to invest in public housing, the subsidies that distort the private rental market such as negative gearing, and the tax privileges that are extended to homeowners.
The housing problems experienced by low-income households are a symptom of entrenched inequality within Australia. Public and private tenants remain disadvantaged and have to endure problematic tenancies that are increasingly insecure. Unless this inequality is addressed, Australia’s housing problems will endure. 
Keith Jacobs is professor of sociology and ARC Future Fellow, University of Tasmania and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/keith-jacobs-5861" target="_blank">here</a>.
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How policy success, not failure, has driven Australia's housing crisis

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The recent surging house prices in Sydney and Melbourne kept Australia near the very top of Demographia's annual list of the world's least affordable countries.
The typical Australian house costs 5.6 times the median household income, with only Hong Kong (19) ranked less affordable; with New Zealand (5.2) and the UK (5.1) not too far behind.
Sydney sits as the second least affordable city in the world, with house prices calculated by the property think tank as 12.2 times incomes.
Melbourne came in equal fourth, along with Auckland and San Jose, at 9.7, narrowing pipping San Francisco (9.4) and London (8.5).
<a href="https://www.demographia.com/dhi.pdf" target="_blank">Demographia</a> only looks at house prices rather than units which constitutes around 35% of Australian dwellings.
Outside the big cities, Tweed Heads was the most costly place to live with a ratio of 9.3.
Bowral-Mittagong, the Sunshine Coast, Port Macquarie, the Gold Coast and Wollongong all had price-to-income ratios of 8 or more.
The two most affordable towns in Australia were both Western Australian mining centres, where those who still have mining industry employment earn high wages, while house prices have slumped.
Karratha had a ratio of 2.5 and Kalgoorlie at 2.9.
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Karratha and Kalgoorlie - Demographia's most affordable towns

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GUEST OBSERVER
Many Australians want to grow old at home with family and friends. Yet most have homes that are inaccessible. Without intervention now, taxpayers will be asked to deal with the unintended consequences for the health, aged care and disability budgets.
We all know people who go to hospital and do not return home because they can no longer climb the stairs, get down the hall, or use the bathroom. The alternative is an extended hospital stay while they wait for expensive modifications, or placement in some distant residential facility.
<h2>The fix?</h2>
Community and housing industry leaders agreed with the federal government a voluntary national guideline and a plan to provide basic access features in all new housing by 2020. Governments at all levels endorsed this agreement through their housing, aged and disability policies. This includes COAG’s 2010-2020 National Disability Strategy.
Adding these features at the design stage is cheap and easy to do. One cost estimate is A$200-$1,000 per dwelling. This would provide:
<ol>
<li>
An accessible path of travel from the street or parking area to and within the entry level of a dwelling;
</li>
<li>
Doorways, corridors and living spaces on the entry level which most people can use;
</li>
<li>
One bathroom, shower and toilet that most people can use, with reinforcement in the walls for easy installation of grab-rails if required.
</li>
</ol>
The agreement does not solve the housing needs of people with significant long-term disability. This requires more thought. But it does allow most people to manage unexpected disability, illness or frailty until more substantial changes can be made.
Just as importantly, it allows friends and family who have mobility difficulties to visit and be part of family life.
<h2>Voluntary approach isn’t working</h2>
A 2015 review of the agreement indicated that the voluntary approach has failed. It estimated that, without intervention, less than 5% of the agreed 2020 target would be achieved.
There are good reasons for this failure. The housing industry is highly competitive and risk-averse.
Most housing is designed and built long before the buyer comes along. Builders build what has sold in the past and what they think buyers might aspire to in the future. Their experience is that most buyers do not aspire to be old, disabled or frail, so access is not high on their agenda – but it should be.
<a href="/images/2016/01/11/image-20151210-7438-q2xwv0.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/01/11/image-20151210-7438-q2xwv0.png" alt="">
These maps demonstrate the speed at which populations are ageing. They show the proportion in each country of people aged 60 or over in 2014 and 2050. UNDESA Population division, World population prospects: the 2015 revision.
Although the features are easy and cheap to install, a change to new practices has its risks and can be expensive. Contrary to the notion that a single builder builds a home, housing construction constitutes a complex web of subcontractors and suppliers. Each is dependent on the other to avoid delays or unexpected costs.
A simple change, such as wider doorways, can throw out the preceding and following trades, and both time and money are lost.
From the housing industry’s point of view, the estimated cost of voluntarily providing these features is much greater. It is simpler to keep doing the same – there will always be a buyer at the end.
The housing industry acknowledges that when change is necessary for the common good, regulation is required. The industry first resists, then makes the change. The “conveyor belt” of housing construction adjusts, and business continues as usual.
A home’s design affects people’s lives throughout its lifetime, so many others bear the secondary costs of inaccessible design. Providing access in a home after it is built is 19 times more expensive than if it was included from the start. But it is the tertiary costs to health, ageing and disability programs that are of real concern.
The National Disability Insurance Scheme and the aged care reforms – Australia’s most ambitious and costly social programs in a generation – are based on the premise that it is both socially and economically responsible to keep people connected. This includes participating in community and family life for as long as possible.
<h2>What now?</h2>
Australia needs only to look to other countries to understand what needs to be done. The UK has legislated for minimum access in all housing since 1999. For three decades, Japan has provided financial incentives for the housing industry to build accessible housing.
Although these strategies are not without their problems, they have clearly changed the housing industry for the better.
The federal government must let go of the voluntary approach, to think long-term and regulate for minimum access features in the National Construction Code for all new housing. The agreed 2020 target can then be achieved.
As a nation that prides itself on embracing difference, a national accessible housing code is a good place to start.
Margaret Ward is research fellow, School of Human Services and Social Work, Griffith University and author for <a href="https://theconversation.com/profiles/margaret-ward-129939" target="_blank">The Conversation</a>. 
 
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Housing standards are failing Australia's ageing population who deserve accessible housing code

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A new study has found people who spend more than half of their household income on housing costs are significantly less happy than those who pay less than a quarter.
The Australian Unity Wellbeing Index survey found those with housing costs of 25% of household income or less have an average personal wellbeing index (PWI) score of 77.
Those who pay between 50-75% of their household income on housing score just 69.9 on average. 
<a href="/images/2015/12/14/Screen%20Shot%202015-12-14%20at%202.41.16%20PM.png" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
<img src="/images/2015/12/14/Screen%20Shot%202015-12-14%20at%202.41.16%20PM.png" alt="" width="638" height="244">
 
The survey found people without a mortgage have the highest overall levels of wellbeing. 
Deakin University senior research fellow Delyse Hutchinson said it is clear that there is a correlation between a lack of housing affordability and wellbeing. 
"It might be that housing costs are taking a toll on people’s life satisfaction, or those with lower personal wellbeing might face a greater challenge in their interaction with the tough housing market,” she said. 
<a href="/images/2015/12/14/Screen%20Shot%202015-12-14%20at%202.43.05%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/12/14/Screen%20Shot%202015-12-14%20at%202.43.05%20PM.png" alt="">
The full report can be viewed <a href="https://www.australianunity.com.au/about-us/wellbeing" target="_blank">here</a>.
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Housing affordability linked to personal wellbeing

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A loss-taking Melton South house sold at $216,000 was the cheapest weekend auction result.
It had been listed since November last year with $240,000 to $270,000 hopes.
The three bedroom 1975 home had last traded at $257,000 in 2011.
The <a href="https://www.realestate.com.au/property-house-vic-melton+south-121223070" target="_blank">5 Blackwood Drive, Melton South</a> offering sold through PRD Nationwide who marketed it as "perfect for an investment property or for a first home buyer."
<a href="/news">The suburb's median house price sits at $244,000</a>, down on the $258,000 peak in 2011, according to CoreLogic RP Data.
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Big price fall at Melton South, Melbourne's cheapest auction locality

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Melbourne's cheapest weekend auction sale was a $188,000 one bedroom unit in West Footscray. More than $150,000 was being sought.
It last traded for $114,650 in 2007 reflecting an annual price appreciation of 5.81%.
The property is located seven kilometres west of the Melbourne CBD. 
The unit has a generously proportioned bedroom with an ensuite and laundry facilities. 
Chris Gotzilianis and Adam Welling of Village Real Estate were the selling agents of <a href="https://www.realestate.com.au/property-flat-vic-west+footscray-121344222" target="_blank">7/13 Ormond Road </a>which also comes with designated off-street parking for one.
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West Footscray secures 5.8% annual growth in Melbourne's cheapest weekend sale

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A new report by LF Economics compares Australia's housing market to a Ponzi scheme, building on the theme of unaffordability in its previous reports. 
Lindsay David's latest report talks about how many first home buyers (FHBs) depend on their parents for financial assistance for a deposit and then use their homes as collateral to secure mortgages. While this fast-tracks their home ownership, the difficult situation of paying off ever-increasing debt exposes many Baby Boomer parents to a potentially dangerous situation should their children default.
The report says "in reality, many parents (the Baby Boomer cohort) are asset-rich but income-poor". It claims few parents have enough savings and other liquid assets on hand to meet their legal obligations without selling their home if their children default.
It says this loan guarantee strategy in a rising housing market for securing ever-larger amounts of debt is essentially pyramid or Ponzi finance. 
Founded by David and Philip Soos, LF Economics had previously argued that Australia’s housing market was one of the most overleveraged and unaffordable in the Western world.
It says Australia’s long-term housing price index, adjusted for inflation and quality, demonstrates the phenomenal boom in prices beginning in 1996 (a turning point in residential dwelling markets globally).
What distinguishes this boom from all others is its relative size and length of time without incurring a substantial correction. Between 1996 and 2015, real housing prices have risen by 141%. This surge in prices is why the housing market is so unaffordable, it states.
The report is also critical of government and industry claims that declining nominal mortgage interest rates since the peak in 1990 to record lows today has increased affordability, hence assisting FHBs. But this does not account for the ever-rising deposit needed for entry into the housing market given record-high price to income ratios and the hefty cost of lenders mortgage insurance, it adds. The current low interest rate also makes it difficult to save for a deposit.
It says the data shows Australia is in the midst of the largest housing bubble on record, both in terms of prices to rents and household incomes but that government and regulators have been denying the existence of a bubble.
"The price to income ratio (P/I) is as an indicator of residential property valuation, also referred to as the median multiple," says the report.
"When real housing prices began to lift off in 1996, the P/I ratio was around 4 for both houses and units, indicating superior affordability.
"A new peak was established in 2004 and remained steady for the next decade, with a ratio of 7 for houses and 6 for units.
"As the latest booms in Sydney and Melbourne have caused nationwide prices to rise further, the P/I ratio for houses and units have reached a new peak of 8.3 and 6.4 respectively in 2015Q2.
"It is clear a significant increase occurred from 1996 onwards as household incomes have not kept pace with the growth in dwelling prices. The P/I ratio certainly suggests Australia’s residential housing market is unaffordable."
In conclusion, it says the financial services industry does not heed and has no incentive to consider the financial livelihoods of FHBs after purchase. Regulators have ignored the Ponzi lending practices by lenders, believing the RBA will have the adequate ability to bail them out at taxpayers’ expense the day this classic Ponzi lending scheme breaks down.
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Parental guidance, property and ponzi: LF Economics

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Mount Druitt and Silverdale were the two identified affordable rental suburbs closest to the Sydney central business district, according to Australia's first rental affordability index.
These involve a commute of more than 50km, with the index naming the most affordable area in the greater Sydney region as Black Springs, almost 200km from the central business district near Oberon.
The index is a joint project between peak housing advocate National Shelter, Community Sector Banking and SGS Economics &amp; Planning.
NSW households on average weekly earnings of $1474 have to spend 28% of their income to rent in Sydney, the report found, or close to the inner city more than 60% of their income towards rent,
The report concluded they faced severe housing stress which is defined as spending more than 30% of total income on housing.
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<div>Melbourne is the most affordable capital city in Australia for average income households looking to rent, according the report.</div>
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The average household in Greater Melbourne would have to outlay 24 per cent of their income if they were to rent. Caldermeade and Melton West were ranked the most affordable.
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While most attention on home ownership, the index seeks to show renters face a greater challenge than homeowners when it comes to keeping a roof over their heads.
Adrian Pisarski, executive officer of housing affordability organisation Shelter Australia, said a low income family on $500 a week faces spending 65% of their income on rent in NSW, the most unaffordable state.
Mr Pisarski told the ABC almost all renters in Sydney were "on the threshold" of housing stress.
"Effectively, the only affordable rental [for low-income earners] in Sydney is west of Blacktown," he said.
"The inner-city, as people would imagine, is completely unaffordable.
"That [unaffordable area] spreads right up and down the coast and even to most of the coastal regions of New South Wales, and even places like Orange and Dubbo are not very affordable either."
The situation is marginally better elsewhere, with Queensland and Tasmania taking up 54%, South Australia 59% and Western Australia 57%.
Louise Pratt, from Shelter WA said maps of rental affordability across the State showed the North West, Broome, parts of the South West and most of Perth was unaffordable.
The report found the most affordable areas in greater Hobart to be Collinsvale, Derwent Park and Clarendon Vale, with the least affordable areas listed as Clifton Beach, Taroona and Old Beach.
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Sydney's Mount Druitt rated on rental affordability index

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Signs of slowing have emerged in Sydney property markets after the four major banks increased their standard variable interest rates to be slightly higher for investment loans over owner occupier loans to meet the APRA requirements, according to valuation firm Herron White Todd.
The banks had also introduced tougher loan-to-value standards in response to a move by regulators to rein in the riskier corners of the country’s house price boom, the HTW November review advised saying there was now often a maximum of 80% loan to value ratio for investors. 
"We have not seen the full effect this will have on the property market as yet, however we are seeing signs of slowing." 
The 80% was providing a significant buffer for the banks "however it becomes harder for an individual to actually save the 20% deposit or to use the existing equity in their primary dwelling or portfolio for the deposit.
"With fewer people able to access the 20% deposit, there will be fewer investors in the market," the valuation firm advised.
It suggested that this could lead to less demand and more supply which directly affects the value of a property. 
"There are signs that the market may be cooling," the report added noting there had been a continual decline in auction clearance rates in Sydney from low 80% in July 2015 to mid 60% in October 2015 according to Corelogic RP Data. 
"This is a combination of the record number of auctions listed (so volume sold as a percentage is decreased), the expectations of vendors to exceed prices that were being achieved by neighbours no more than three months ago and a decrease in the pool of purchasers as we enter into a new wait and see phase of the property cycle." 
The review indicated that it is fair to say that much of the growth in Sydney in the past eighteen months has been fuelled by the investor market.
"On the ground, completing the mortgage valuations, we have seen that this has been a combination of local buyers such as baby boomers using the equity in their main dwelling to purchase additional property for their superannuation, interstate investors who have heard the get rich quick scenarios and are banking on quick capital appreciation and overseas investors looking to build a property portfolio."
The report went on to say that given that the recent APRA changes took effect mid year, it was "too soon" to say what the full impact of the tightening of bank regulations has been on the property market but indications are that the regulations appear to be working.
"This change in criteria could have a positive impact on the first home buyer market which traditionally competes heavily with entry level investors and could open up opportunities for the owner occupier."
The review concluded by suggesting Herron Todd White believe the investor market in NSW will remain stable over the medium term as the banks have not made it impossible to buy an investment property, they have just tightened their criteria.
"These changes will not exclude people from entering the market as investors but force them to be in a more secure financial position before entering into any agreements."
The November review also suggested that in the past few years Sydney has also had the benefit of many new developments partially due to a change in approval policy; partially due to the underlying demand and supply imbalance in the market and partially due to the demands of the overseas investment market that is regulated by government to the purchase of new property only. 
"This product is appealing to investors and owner occupiers as developers and the government offer benefits such as reduced or no stamp duty, monetary incentives and non-monetary incentives. 
"We have seen new developments or off the plan purchases become the most popular because of the combination of incentives received and, due to the heat in the market, the assured capital appreciation from purchase to settlement.
"To date we have not become aware of any changes in these policies and can only assume they will remain for the foreseeable future however doubt over immediate capital appreciation may see some investors withdraw."
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