<p>Roseville is poised for a wave of new apartment development following the NSW Government's rezoning of land around Roseville Station under its Transport Oriented Development program.</p>

<p>The new planning controls have unlocked significant development potential within walking distance of the station, with a number of sites expected to be amalgamated and redeveloped in the coming years as developers seek to take advantage of the increased density allowances.</p>

<p>One of the more restrained developments in the precinct, and set among the first to be delivered having commenced well before the recent changes, is Hyecorp's Juliet. The boutique apartment project is already well under construction and remains on track to welcome residents by the end of the year, offering a markedly different proposition to many of the larger-scale developments now likely to emerge across the suburb.</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278194]</p>

<p><a href="https://www.apartments.com.au/new-apartments/juliet-roseville-64-pacific-highway-roseville-nsw-2069">Juliet</a> will comprise just&nbsp;34 one-, two-, and three-bedroom apartments opposite Roseville Station. For Hyecorp, which has delivered projects across Sydney's Lower North Shore for more than three decades, Roseville presented a rare opportunity to address a growing gap in the market.</p>

<p>"<a href="https://www.apartments.com.au/developments/roseville-nsw-2069">Roseville</a> has long been one of the North Shore's most tightly held and desirable suburbs, offering a unique combination of village charm, established greenery, excellent transport connections, and proximity to some of Sydney's best schools and lifestyle amenities," Hyecorp said.</p>

<p>"We recognised a growing demand from local homeowners seeking to downsize without leaving the community they have built their lives around. The location presented a rare opportunity to create homes that cater specifically to that buyer profile."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278196]</p>

<p>The six-level development has been designed by <a href="https://www.apartments.com.au/architects/pbd-architects">PBD Architects</a> as a collection of residences that feel more like homes than apartments. The brief centred generous floorplans, abundant natural light, quality finishes, and strong connections to outdoor space.</p>

<p>PBD Architects drew inspiration from Roseville's established garden suburb character, creating a building that sits comfortably within its surroundings rather than dominating them. The architecture incorporates natural materials, soft forms, layered landscaping, expansive balconies, and generous setbacks to strengthen the connection between residents and the suburb's leafy environment.</p>

<p>"The focus was on designing spacious, house-like residences for discerning owner-occupiers and downsizers who wanted to remain on the North Shore without compromising on comfort, privacy, or design," PBD said.&nbsp;</p>

<p>"Every apartment was to feel considered, timeless, and highly functional."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278195]</p>

<p>Inside, residences feature engineered timber flooring, stone kitchen benchtops and splashbacks, integrated Fisher &amp; Paykel appliances, ducted air conditioning, and large outdoor entertaining areas designed to take advantage of district and treetop views.</p>

<p>Residents will also have access to a rooftop barbecue and lounge area, alongside practical amenities including parcel lockers, EV charging capability, bicycle storage, a dog wash bay, and a basement car wash facility.</p>

<p>The majority of purchasers so far have been local owner-occupiers from Roseville, Lindfield, Chatswood, Killara, and the broader Upper North Shore, many of whom are transitioning from larger family homes.</p>

<p>"Buyers are looking for spacious, house-like apartments that allow them to downsize without feeling like they are sacrificing comfort or functionality," Hyecorp noted.</p>

<p>"They value large kitchens, generous living areas, ample storage, quality finishes, secure parking, lift access, and low-maintenance living."</p>

<p>[smartcode_project:default project_id=7395 project_image_fid=278204]</p>

<p>Juliet sits directly opposite Roseville Train Station and within walking distance of Roseville Village, while Chatswood's retail and dining precinct is only minutes away. The development is also surrounded by some of Sydney's most established schools, including Roseville College, Ravenswood, Pymble Ladies' College, and Knox Grammar, as well as nearby parklands and golf courses.</p>

<p>Juliet is currently more than 75 per cent sold ahead of its anticipated completion in late 2026.</p>

<p>[smartcode_project_cta:default project_id=7395]</p>


Joel Robinson

Juliet to sit quietly amid Roseville apartment boom

<p>Sherpa Property Group has unveiled the third instalment of its Flourish series, securing full approval for the two-tower, $500 million Flourish Soleira development in Palm Beach.</p>

<p><a href="https://www.apartments.com.au/new-apartments/flourish-soleira-1150-1154-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> will rise from a prominent site in the commercial heart of Palm Beach, the long-time home of Cash Converters and a range of local retailers.</p>

<p>The project will introduce a new retail and dining precinct at ground level, beneath 286 apartments.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370959]</p>

<p>“We’re very committed to not only providing affordable residential offerings that are much needed in Palm Beach, but also delivering a vibrant new commercial heart that complements the extraordinary growth of the southern Gold Coast,” Sherpa Property Group founder Christie Leet said.</p>

<p>The development will sit under Sherpa's Flourish brand, which is aimed at providing a pathway into the beachside suburb for locals, first-home buyers and downsizers. In a move designed to assist first-home buyers entering the market, Sherpa has reserved all one and two-bedroom, one-bathroom apartments exclusively for eligible first-home buyers.</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=370964]</p>

<p>“Our vision through Flourish is to create a vibrant retail and lifestyle focal point within the Palm Beach centre zone, delivering thriving communities underpinned by lifestyle-rich locations,” Leet said.</p>

<p>“So far, Flourish has been an incredible success, and we hope to carry this momentum as we progress the next two Flourish projects in Palm Beach.”</p>

<p>[smartcode_project:default project_id=150017 project_image_fid=371430]</p>

<p>Located across 1150-1164 Gold Coast Highway and 3 Sixth Avenue, the development will comprise two towers. The northern tower will deliver 154 apartments, while the southern tower will add a further 132 residences, helping address ongoing demand for new apartments in the tightly held coastal suburb.</p>

<p>Flourish Soleira will also feature the most extensive rooftop amenity offering ever delivered in Palm Beach.</p>

<p>The two towers will be connected by a skybridge, with residents gaining access to a rooftop recreation deck featuring a full-width swimming pool, hot and cold plunge pools, wellness spaces, a gymnasium, private dining facilities, massage treatment rooms, barbecue areas, a basketball court, golf simulator, indoor and outdoor dining spaces, sun lounges and extensive landscaping.</p>

<p>LPS Group is expected to start construction later this year.</p>

<p>Sherpa is already well advanced on construction of its debut Flourish project, Flourish Amargo, located just around the corner from Soleira. Meanwhile, Flourish Oasis, positioned opposite Amargo, recently commenced construction and has nearly sold out its collection of 47 apartments.</p>

<p>[smartcode_project_cta:default project_id=150017]</p>


Sherpa unveils $500m mixed-use Palm Beach precinct, Flourish Soleira

<p>Are mortgage holders set to get a reprieve from the RBA in 2026?</p>

<p>Big Four bank NAB believes so. They are now expecting the next move from the RBA to be a cut, rather than a hike, which they had pencilled in for August. They are unsure of the timing of the cut however, they note in their latest&nbsp;NAB Economics RBA Watch.</p>

<p>NAB Chief Economist, Dr Sally Auld, said recent data suggests the economy has lost momentum and the outlook for rates has shifted, noting that the broader economic backdrop has changed since earlier in the year.</p>

<p>“The next move in the cash rate is likely to be down, but the timing is uncertain," Dr Auld said.</p>

<p>"In February, growth was above trend, the economy was operating above capacity and there was uncertainty over the restrictiveness of rates. None of these conditions exist today,” she outlined.</p>

<p>Dr Auld said recent data pointed to softer momentum across the economy while acknowledging that at the same time, uncertainty remains a key feature of the outlook.</p>

<p>“Both Q1 GDP data and the NAB business survey suggest momentum in the economy has slowed, meaning that growth has likely peaked for the cycle. That said, we are cognisant there is still considerable uncertainty around the outlook, both with respect to activity and inflation.”</p>

<p>Dr Auld said inflation risks and labour market outcomes would be important to watch.</p>

<p>“On the prices side, we are still forecasting above target core inflation through to mid-2027. Margins will compress and weaker labour market outcomes are a risk.”</p>

<p>She said tighter financial conditions are expected to weigh on housing and activity.</p>

<p>“Tighter financial conditions will be reflected in a slowing in house price growth and housing credit growth. In summary, we have greater conviction that the next move in rates is down, but less conviction on the timing.”</p>


Mortgage relief? NAB forecasts RBA rate cut, not hike, after softer economic conditions

<p>A local downsizer has splashed $6.5 million on a penthouse in Perifa's Alex &amp; Willow development in Crows Nest.<br />
&nbsp;<br />
The purchaser sold their long-held family home in the area before embarking on a six-month search for the right apartment. After inspecting a range of options across the Lower North Shore, the buyer returned to <a href="https://www.apartments.com.au/new-apartments/alex-willow-crows-nest-82-90-alexander-street-crows-nest-nsw-2065">Alex &amp; Willow</a>.<br />
&nbsp;<br />
The buyer profile reflects the project’s broader purchaser mix. <a>Alex &amp; Willow</a> has attracted predominantly local downsizers looking to transition from larger homes without compromising on space or quality, alongside a smaller cohort of upsizers and investors drawn to the project’s location and design credentials.<br />
&nbsp;<br />
The milestone sale comes as the project, developed by&nbsp;<a href="https://www.apartments.com.au/developers/perifa">Perifa</a>&nbsp;and delivered by <a href="https://www.apartments.com.au/builders/versatile-made-construction">Versatile Construction</a>, both part of Versatile Group, reaches 60 per cent sold.</p>

<p>[smartcode_project:default project_id=6680 project_image_fid=371325]<br />
&nbsp;<br />
Eddie Mansour, Managing Partner of <a href="https://www.apartments.com.au/project-marketer/ray-white-projects">Ray White Projects</a>, said the result demonstrates not only a headline price but also depth of demand.<br />
&nbsp;<br />
“This is an exceptional outcome and a clear reflection of sustained buyer demand for premium, well-located downsizer product,” Mansour said.</p>

<p>“We’re seeing a consistent pattern of local homeowners selling family residences and reinvesting into high-quality apartments that allow them to remain within their community. Alex &amp; Willow has resonated strongly with this group because it offers genuine scale, thoughtful design and immediate proximity to the village.”<br />
&nbsp;<br />
The sale reflects a broader and consistent trend of local downsizers actively seeking high-quality, low-maintenance residences close to established village centres. Agents report that demand for this product type has remained resilient, particularly where developments offer a rare combination of scale, design quality and walkable amenity.<br />
&nbsp;&nbsp;<br />
Fabrizio Perilli, Managing Director of Perifa and Versatile Group, said the sale marks a defining moment for the project.<br />
&nbsp;<br />
“The penthouse sale is a strong endorsement of the quality we have delivered, alongside our partners, and the clear demand from local downsizers for premium, boutique residences in this location,” Perilli said.&nbsp;<br />
&nbsp;<br />
“Most importantly, we’re proud to see the Alex &amp; Willow community beginning to take shape. As we move closer to completion, we’re looking forward to welcoming residents and seeing the project come to life.”&nbsp;</p>

<p>[smartcode_project:default project_id=6680 project_image_fid=338516]<br />
&nbsp;<br />
Designed by <a href="https://www.apartments.com.au/architects/nettletontribe">Nettleton Tribe</a> with interiors by <a href="https://www.apartments.com.au/interior-designers/richards-stanisich">Richards Stanisich</a>, Alex &amp; Willow is a boutique collection of generously sized two- and three-bedroom residences in the heart of Crows Nest village.&nbsp;</p>

<p>Completion is slated for early 2027.</p>

<p>[smartcode_project_cta:default project_id=6680]</p>


Alex & Willow, Crows Nest penthouse sells off the plan for $6.5 million

<p>Fresh from launching the first stage of its Wollongong precinct, <a href="https://www.apartments.com.au/new-apartments/keira-place-wollongong-120-122-smith-street-wollongong-nsw-2500">Keira Place</a>, builder-developer Urban Property Group has unveiled plans for the next phase of the masterplanned community.</p>

<p>Now on public exhibition through the NSW Government's Housing Delivery Authority pathway is a State Significant Development Application for a further 657 homes on the prominent gateway site opposite Beaton Park.</p>

<p>The proposal comprises three buildings, including two build-to-sell towers rising 25 and 30 storeys, delivering 391 apartments, alongside a 12-storey co-living building with 266 residences, making it one of the largest co-living proposals currently planned in regional New South Wales.</p>

<p>Of the apartments proposed in the build-to-sell towers, the majority, 310, are two-bedroom dwellings. The balance comprises 44 one-bedroom apartments and 37 three-bedroom residences. Apartment sizes range from around 50 sqm for one-bedroom homes to approximately 90 sqm for three-bedroom apartments.</p>

<p><img alt="Smith St" data-entity-type="file" data-entity-uuid="19347059-1612-41a0-9c74-b86a657237f8" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%2010.02.18%E2%80%AFAM.png?VersionId=sWXnaCcA.cIC6N8YT1dg5pJ2e1V3Z6z7" /></p>

<p>The submission says the proposal has evolved significantly from its original Housing Delivery Authority application following extensive consultation with the State Design Review Panel and Wollongong City Council.</p>

<p>The final scheme has been designed to align with the emerging vision for the Flinders Street Precinct, an area identified by Council as a future high-density mixed-use neighbourhood capable of accommodating substantial housing growth close to transport, employment and community infrastructure.</p>

<p>According to the design report prepared by COX Architecture, the development aims to "deliver a built outcome consistent with the future character of the Wollongong CBD while responding to the site's unique constraints and opportunities."</p>

<p>"Our vision for the next phase of the site evolution in Wollongong is grounded in three design pillars that guide the design response: place, natural environment and celebration," COX said.</p>

<p>"Inspired by its surroundings and grounded in the stories of place on Wodi Wodi Country, the design proposal acknowledges the established character of its setting while creating a unique and timeless identity that sits harmoniously within it.</p>

<p>"The design proposal responds to its specific site conditions, acknowledging the vegetation, climate, wind conditions and solar access of the site."</p>

<p>The architecture responds directly to the site's position between Wollongong's urban core and its natural landscape setting.</p>

<p>COX identified views towards Mount Keira and the Illawarra Escarpment as defining features of the site, while the upper levels of the towers will also capture expansive views across the city and out to the Pacific Ocean.</p>

<p>The design team has positioned the tallest buildings closer to the rail corridor, where overshadowing impacts can be better managed while establishing a landmark built form on the northern approach into the city.</p>

<p><img alt="Smith St" data-entity-type="file" data-entity-uuid="79580d5b-500c-4ebf-9629-797146a4a694" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-10%20at%209.51.59%E2%80%AFAM.png?VersionId=WbTB1EKSG.KDfsfz0F3wp1QVa2oCMGR5" /></p>

<p>Urban Property Group secured the 11,000 sqm Smith Street site in 2022 and has since progressed plans for the broader Keira Place precinct.</p>

<p>Construction recently commenced on the first stage of Keira Place, which will deliver 150 apartments across two residential buildings, including 27 affordable housing apartments and 18 specialist disability accommodation dwellings, alongside activated ground-floor retail and commercial space.</p>

<p>Urban Co-CEO Patrick Elias said the commencement of construction marked a significant milestone for Wollongong and reflected the developer's long-term commitment to regional cities.</p>

<p>"Today's groundbreaking is about turning approvals into homes and moving quickly to deliver much-needed housing in Wollongong's city centre," Elias said.</p>

<p>"Keira Place will provide a diverse mix of homes close to jobs, transport and services, while setting a high benchmark for quality, durability and consumer protection."</p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/groundbreaking-marks-start-of-construction-at-keira-place-in-wollongong-cbd">Groundbreaking marks start of construction at Keira Place in Wollongong CBD</a></em></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>


Urban Property Group unveils trio of towers for next stage of new Wollongong precinct, Keira Place

Property market

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<p>Adelaide now has the No.1 growth market among the eight state and territory capital cities.</p>
<p>While the former boom markets in Sydney and Melbourne have faded dramatically in 2016 (notwithstanding the dodgy data on auction clearance rates, which flatter to deceive), and Brisbane has lost some of its momentum, Adelaide has maintained its very steady performance.</p>
<p>My latest survey of sales activity for The Price Predictor Index shows that Adelaide leads the capital cities on the number of growth markets for the second consecutive survey. It has more suburbs with rising sales activity than all other cities, ahead of Melbourne and Brisbane. Adelaide is attracting growing attention from investors for its affordability and the value for money it offers compared to the bigger cities. </p>
<p>Using sales volumes as the yardstick, there are now very few growth markets left in Sydney. And my latest survey adds another element to the downturn story: there are now suburbs I have identified as “danger markets”, because of the pattern of sharp decline in the number of sales. These are primarily apartment markets, where sales levels are dropping at a time of increasing supply. This represents an obvious danger for buyers.</p>
<p>Brisbane has had elevated sales activity for the past 2-3 years, without delivering the level of overall price growth seen in Sydney and Melbourne. But now, like the two biggest cities, Brisbane markets are running out of steam. In the past three quarterly surveys, the number of suburbs with growing sales activity has decreased markedly. This replicates the pattern seen earlier in Sydney.</p>
<p>At the same time, some of the inner-city apartment suburbs are now classified as “danger markets” – sales rates are dropping at a time of increasing new supply. Investors need to be careful also about Brisbane Northside suburban markets, as vacancies are high in some suburbs.</p>
<p>But Adelaide continues to thrive. It started 2016 in solid fashion and has kept going.</p>
<p>Unlike the patterns we have seen recently in Sydney, Melbourne and Brisbane, where individual precincts have stood out as the market leaders, Adelaide has a broad geographical spread of LGAs with good numbers of growth markets. There are five municipalities which each have between four and six suburbs with rising sales trajectories likely to lead to price growth.</p>
<p>The No.1 municipality is the Port Adelaide Enfield LGA. This is one of the largest municipalities in Adelaide, covering the inner north and north-west of the city. Six suburbs in this LGA have rising markets, mostly suburbs with median house prices in the range from $390,000 to $520,000, which in Adelaide tends towards “middle market”. They include Broadview, Northgate, Clearview and Hillcrest.</p>
<p>Close behind is the downmarket Salisbury LGA in the far north of metropolitan Adelaide – it has five rising suburbs and seven with steady consistent sales rates. The suburb of Parafield Gardens has lifted sales from 53 to 63 to 75 in the past three quarters.</p>
<p>The City of Charles Sturt remains one of Adelaide’s solid middle-market areas with plenty of sales activity. The Charles Sturt LGA includes bayside suburbs west of the Adelaide CBD and has rising markets such as Flinders Park (median house price $530,000), Grange ($680,000), Henley Beach South ($735,000) and Seaton ($470,000).</p>
<p>The Marion and Onkaparinga municipalities both have four suburbs with rising sales activity. The Onkaparinga LGA in the far south of the Greater Adelaide area has been prominent in most of our quarterly surveys over the past two years and is one of South Australia’s leading precincts for population growth.</p>
<p>I’ve always regarded the Adelaide Hills as one of Australia’s most appealing Hill Change lifestyle areas. But while the Adelaide market generally has been rising for the past two years, the Hills haven’t stood out in terms of sales activity until 2016.</p>
<p>It’s taken time for the growth to ripple out to the metropolitan fringes. But now a number of the suburbs in the Mount Barker and Adelaide Hills LGAs are featuring with strong sales momentum, headed by the suburb of Mount Barker where sales rates have risen from around 70 per quarter to above 100.</p>
<p>Adelaide has always suffered from a lingering reputation as a place that lacks serious population growth or economic oomph. But it has more going for it than people realise – including a good level of spending on infrastructure – and above all else offers great value-for-money in its real estate, relative to the bigger cities.</p>
<p class="Body"><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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terryryder-YECXbqmri2

Adelaide claims top residential growth market

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<h3 class="post-title entry-title"> </h3>
<div id="post-body-7040816109967032059" class="post-body entry-content">
<div>SQM Research reported that year-on-year vacancy rates are slightly higher.</div>
<div> </div>
<div>Sydney and Melbourne reported vacancy rates of 1.8 percent and 2 percent respectively.</div>
<div> </div>
<div>In Brisbane, where there is still a significant pipeline of inner city apartments set to hit the market, vacancy rates are 2.9 percent. </div>
<div> </div>
<div>Perth's vacancy rate was steady from the previous month at 5 percent, while the Darwin market appears to be have steadily improved with vacancy rates at 3.1 percent. </div>
<div> </div>
<div>The tightest markets are Hobart (0.6 percent) and Canberra (1.1 percent), and asking rents have increased accordingly in these cities. </div>
<div> </div>
<div><a href="/images/2016/10/19/SQM1.jpg" target="_blank">Click to enlarge</a></div>
<br><div class="separator"><img src="/images/2016/10/19/SQM1.jpg" alt=""></div>
<div> </div>
<div>Smoothing the data shows that over the past year vacancy rates have been relatively flat in Sydney and Melbourne, but vacancies have generally been elevated in the resources states. </div>
<br><div class="separator"><a href="/images/2016/10/19/SQM2.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"> </div>
<div class="separator"><img src="/images/2016/10/19/SQM2.jpg" alt=""></div>
<div> </div>
<div>This has been reflected in soft rents in Perth and Darwin.</div>
<div> </div>
<div>Despite the apartments pipeline asking rents for units are higher year-on-year in each of the three most populous cities, particularly in Sydney (+4.4 per cent) and Melbourne (+5.1 per cent) as the new stock comes online. </div>
<div> </div>
<div>Concluded SQM Research:</div>
<div> </div>
<div><em>"Looking forward, vacancies are likely to rise in Melbourne, Brisbane and Sydney over 2017 as more new high-rise apartment developments come onto the market. </em></div>
<div><em> </em></div>
<div><em>However, we maintain that the oversupply issue appears to be constrained to concentrated areas such as the inner-city regions. </em></div>
<div><em> </em></div>
<div><em>We are not as confident we will see a contagion affect where the whole capital city market is affected."</em></div>
<div><em> </em></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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pwargent-M4siyDbqQY

Vacancies up slightly year-on-year: Pete Wargent

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<p>There’s mounting activity in and around real estate in Hobart and, according to media, it’s a sudden explosion.</p>
<p>A Domain report says there’s an “unprecedented” surge in activity from international developers “who are now ditching the mainland in favour of Hobart”. </p>
<p>It reports a big increase in hotels planned for the city’s tourism industry – and in developers actively seeking sites for residential development.</p>
<p>Chief executive of Knight Frank Tasmania, Scott Newton, reports big demand for Hobart development sites, which is also described as “unprecedented”.</p>
<p>“Hobart has generally lagged the national market but we’re certainly seeing change unfold and there’s been a catch-up take place,” he says. </p>
<p>I’m not surprised at the interest in the Hobart market – and it’s not sudden and it’s certainly not unprecedented. Hobart and Tasmania have been making a strong case for attention from investors of all kinds for a couple of years now.</p>
<p>Hobart has become a serious national player in the overall residential property scene, with its appealing mix of the lowest prices, tightest vacancies and highest rental yields in capital city Australia, underpinned by a greatly improved state economy.</p>
<p>Both SQM Research and CoreLogic have published recent data showing that annual price growth is strongest in Melbourne, followed by Canberra, with Hobart now challenging the leaders.</p>
<p>CoreLogic has Sydney now ranked third on price growth with Hobart fourth, while SQM rates Hobart as third best on capital growth and Sydney fourth.<span style="font-size: 12.16px;"> </span></p>
<p>Vacancy rates remain tight or moderate in all of the state and territory capital cities except Perth, but Hobart has maintained its status as the tightest rental market.<span style="font-size: 12.16px;"> </span></p>
<p>Both Domain and SQM Research record vacancies below 2% in Hobart, Canberra, Melbourne and Adelaide. Both sources have Sydney hovering around 2%, with Brisbane and Darwin both around 3%.</p>
<p>“Available rental accommodation in Hobart and Canberra remains scarce, with the lowest house vacancy rates of all the capitals at just 0.5% and 0.8% respectively,” says Domain chief economist Andrew Wilson.<span style="font-size: 12.16px;"> </span></p>
<p>Here’s the key thing: none of this should surprise anyone who’s been paying attention. The rise of the Hobart market to national prominence has been entirely predictable and has been unfolding steadily throughout 2016 and 2017.</p>
<p>Here’s what I wrote on Property Observer 18 months ago, in February 2016: “For six months or more, I’ve been getting blank stares or responses like “Seriously?” whenever I suggest to investors they should be considering Hobart.</p>
<p>“It’s really easy to get a bad reputation and extremely hard to lose it. Tasmania has the image of a basket base economy. A state that’s losing population. A property market bereft of growth.<span style="font-size: 12.16px;"> </span></p>
<p>“For many years, all of that has been true. It’s true no longer.  But most people won’t be convinced until they read there’s a boom on. And by then it will be too late to buy well.</p>
<p>“Perhaps it is already. According to the latest House Price Report from Domain, Hobart median prices rose 8.7% for houses and 7.1% for apartments in 2015. The apartment result is the second best among the capital cities, after Sydney.”<span style="font-size: 12.16px;"> </span></p>
<p>That was February last year. Eighteen months later it’s certainly too late to get the best of the buying, with some research showing that the nation’s hottest suburbs, in terms of “Time On Market”, are all in Hobart.<span style="font-size: 12.16px;"> </span></p>
<p>This is confirmed by reports from industry professionals at the coalface, who report that houses are selling as fast as they’re listed.<span style="font-size: 12.16px;"> </span></p>
<p>There were two core factors that prompted that prediction about Hobart prices at the beginning of last year: the steady rise in sales activity and the improvement in the state economy.</p>
<p>At that time, numerous reports were recording the improvement in the Tasmanian economy including the NAB business survey, a Deloitte Access Economics Business Outlook report and CommSec’s State of the States report.</p>
<p>But the bigger pointer for me was the research Hotspotting goes on sales volumes. Changes in sales activity are always a precursor to price movements, both up and down. Hotspotting analyses sales volumes patterns for every town and suburb in Australia every quarter – and that process forecast the price rises that are now occurring in the Hobart market.</p>
<p>In February 2016 I wrote:  “Cheap real estate, a market with rising momentum, underpinned by a strongly moving economy - it’s a package worth considering.’</p>
<p>Those who followed that advice would have bought well ahead of the price rises and done well – and will do better, because there’s more to come.</p>
<p>Buyers can still get into the Hobart market and achieve capital growth, but the best time to be there was 18 months ago.</p>
<p class="p1"><span class="s1">Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/"><span class="s2">hotspotting.com.au</span></a>. You can <a href="mailto:%20%3Cscript%20type='text/javascript'%3E%20%3C!--%20var%20prefix%20=%20'ma'%20+%20'il'%20+%20'to';%20var%20path%20=%20'hr'%20+%20'ef'%20+%20'=';%20var%20addy38821%20=%20'ryder'%20+%20'@';%20addy38821%20=%20addy38821%20+%20'hotspotting'%20+%20'.'%20+%20'com'%20+%20'.'%20+%20'au';%20document.write('%3Ca%20'%20+%20path%20+%20'/''%20+%20prefix%20+%20':'%20+%20addy38821%20+%20'/'%3E');%20document.write(addy38821);%20document.write('%3C//a%3E');%20//--%3E/n%20%3C/script%3E%3Cscript%20type='text/javascript'"><span class="s2">email him</span></a> or follow him on <a href="https://twitter.com/hotspotting"><span class="s2">Twitter.</span></a></span></p>
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Hobart has become a serious national player in the residential property scene

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<p><span>Research shows that over the 12 </span>months to December 2017, 16.1% of all houses and 9.5% of all units sold nationally transacted with a price tag excess of $1 million.</p>
<p>By comparison, 12 months earlier 14.8% of houses and 8.1% of units sold for more than $1 million.</p>
<p>At 16.1% of all house sales and 9.5%all unit sales in excess of $1 million, more houses and units sold for more than $1 million than sold for less than $200,000.</p>
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<p>Across the combined capital cities, 23.8% of all houses and 11.6% of all units sold over the year sold for more than $1 million.</p>
<p>The number sold for more than $1 million was up from 21.7% and 9.8% respectively a year earlier.</p>
<p>Five years ago just 9.8% of all houses and 3.9% of all units sold for more than $1 million. A greater number of houses sold for more than $1 million over the past year than sold for under $400,000. </p>
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<p><span>Across the combined regional markets, 4.6% of houses </span>and 3.8% of units sold over the year transacted at or above $1 million. The share of million dollar sales was up over the year from 3.8% for houses and 3.6% for units.</p>
<p>Five years earlier, 1.7% of houses and 2.2% of units sold throughout the year sold for $1 million. While in the combined capital cities the share of $1 million sales is significant it remains relatively small in those areas outside of the capitals. </p>
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<p><span>Sydney is the region that recorded the highest proportion </span>of sales of at least $1 million throughout 2017. Over the year, 49.3% of all houses sold were at least $1 million which was up from 45.4% at the end of 2016 and 18.8% at the end of 2012.</p>
<p>Over the 2012 calendar year, 5.4%  of all Sydney units sold over the year were at least $1 million, by 2016 the share had increased to 18.7% and 25% then by the end of 2017 it was up to 22.3%. More recently, values have begun to fall in Sydney, particularly for higher value properties, so there is a possibility in2018 Sydney will see a decline in the share of sales of at least $1 million. The share of $1 million plus sales in Melbourne has climbed significantly over recent years.</p>
<p>Throughout 2017, 28.3% of all houses and 8.3% of all units purchased were at least $1 million. The share of $1 million sales was up from 23.7% for houses and 7.2% of units a year earlier. The share of $1 million sales has risen substantially from five years ago when 9.7% of houses and 3.5% of units sold for at least $1 million. </p>
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<p><span>Although </span><span>value growth </span>has been fairly moderate in Brisbane over recent years, the share of $1 million sales has continued to climb. Throughout 2017, 8.3% of all houses and 3.4% of all units sold, transacted for at least $1 million. A year earlier, 7.5% of all houses and 2.8% of all units sold for at least $1 million and five years earlier just 3.6% and 2.1% of houses and units sold for at least $1 million.” </p>
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<p>Dwelling values in Adelaide have increased by just 2.2% over the past year, however, the share of stock selling for $1 million or more has continued to climb. Over the  2017 calendar year, 5.5% of all houses sold for at least  $1 million with the share climbing from 5.0% a year earlier and 2.8% five years previous.</p>
<p>For units, 1.6% of all sales were at least $1 million 2 years ago compared to 1.7% in 2016 and 1.9% in 2017. Over the past year there were more Adelaide houses sold for at least $1 million than there were sold for less than $200,000. </p>
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<p><span>Perth has been recording falls in values since 2014 and </span>the most expensive properties have recorded falls more substantial than the city wide average. The share of sales of $1 million or more has fallen over the year for house(10.4% to 10.3%) and units (4.5% to 3.2%). Although the share of sales of $1 million property has declined over the year it remains higher than it was five years ago for houses but lower for units when those sales accounted for 7.2% and 3.4% of all sales respectively. </p>
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<p>As the nation’s most affordable capital city housing market, Hobart has far fewer sales of $1 million properties than other capital cities. Notwithstanding, values of all capital cities and has seen a fairly significant lift in the share of $1 million sales over the past year.</p>
<p>Over the 2017 calendar year, 2.8% of all houses sold transacted for $1 million or more, up from 2.3% a year earlier and 1.4% five years earlier. The share of $1 million unit sales was steady over the year at 0.9% of all sales and down from five years earlier when 1.3% of all sales were at least $1 million. </p>
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<p><span>Darwin has been the </span><span>nation’s </span><span>weakest performing capital </span>city housing market for a number of years. At the end of February 2018, dwelling values were -22.3% lower than their peak. Predictably, such substantial value falls have led to a significant decline in $1 million sales.</p>
<p>Over the 2017 calendar year, 3.1% of all houses sold were at least $1 million compared to 4.1% a year earlier but a lower 2.4% five years earlier. 1.3% of all unit sales in 2017 were at least $1 million compared to 2.3% a year earlier and 1.7% five years earlier. </p>
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<p><span>Dwelling values in Canberra have increased by 3.2% </span>over the 12 months to February 2018 and as aresultthe share of sales of properties worth $1 million or more has also risen. At the end of 2017, 12.6% of all house sales throughout the year had been at least $1 million, up from 10.4% a year earlier and 4.8% five years earlier. For units, 2.5% of all sales were at least $1 million, up from  2.3% a year earlier and 1.3% five years earlier.</p>
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<p><span>The latest data is showing that a number of capital cities have now recorded falls in values, in particular the most expensive city, Sydney. </span></p>
<p><span>Additional data also indicates that values are falling by the greatest amount across the premium sector of the housing market. Should these declines continue, it may result in a decline in the share of sales of properties at or in excess of $1 million throughout 2018. </span></p>
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<p><span><em><span>CAMERON KUSHER</span> is head of research for CoreLogic. You can contact him <a href="https://blog.corelogic.com.au/about/"><span class="s2">here</span></a>.</em> </span></p>
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ckusher-ujnxiKuFQs

Nearly 25 percent of capital city houses sell for over $1 million in 2017

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<p>EXPERT OBSERVER</p>
<p>The Brisbane market has shrugged off the impacts of the pandemic and is in its strongest position in five years to generate price growth. Increasingly, this is translating into evidence of uplift in property values.</p>
<p>Our analysis of sales activity across the Brisbane metropolitan area has identified 56 suburbs with rising momentum, the highest number since late in 2015 and double the number identified in our quarterly survey six months ago.</p>
<p>The numbers show an all-round improvement in the Brisbane market, with a sharp reduction in the number of declining suburbs and a reduction also in the number of danger markets.</p>
<p>Brisbane’s affordability relative to the biggest cities is helping to boost its market, with more people relocating to South-East Queensland from Sydney and other parts of Australia. Brisbane is a natural beneficiary of the Exodus to Affordable Lifestyle trend and is also benefiting from strong consumer confidence as a result of the success in controlling Covid-19.</p>
<p>It’s notable that Brisbane is prominent in the forecasts for prices in 2021 from the major banks. The NAB Residential Property Survey is tipping Brisbane to be the joint leader on dwelling price growth next year, alongside Adelaide and Hobart – with a 7.4% annual rise and similar growth in 2022.</p>
<p>I think this is a tad conservative – and so does ANZ, which is forecasting Brisbane to rise almost 10% next year, with only Perth tipped to do better. Westpac and Commonwealth Bank have also tipped good growth in 2021.</p>
<p>In the six years we have been conducting our quarterly surveys of sales activity and prices, it has been common for northern Brisbane to dominate the positive results – and that is certainly the case in this Summer 2020 survey. Of the 56 suburbs with rising sales activity, 12 are in the Brisbane-north precinct of the Brisbane City Council area and 13 are in the neighbouring Moreton Bay Region.</p>
<p>Both precincts also have a high number of suburbs with consistent sales activity across multiple successive quarters, a notable achievement given the negative pressures in this year of the pandemic.</p>
<p>The rising suburbs in the north of Greater Brisbane include Murrumba Downs (where quarterly sales activity has been 39 44 73), Ashgrove (quarterly sales 54 57 60 72 76 50 78) and Bellara (quarterly sales 23 30 26 40)</p>
<p>While the most prolific markets are in the north, there also has been a notable revival in Logan City in the south. The municipality is the urban bridge between Brisbane City and the Gold Coast and traditionally attracts buyers seeking cheap real estate and good infrastructure.</p>
<p>Logan City markets have been in the doldrums in recent years: six months ago we identified 12 suburbs with a pattern of declining sales, but only five in this latest survey – and there are now nine suburbs with rising sales momentum. At a time when first-home buyers are very active and others are seeking an affordable lifestyle, it’s perhaps not surprising that Logan City would show signs of uplift.</p>
<p>Nearby Ipswich City – another centre of affordable buying in the south-west of the metro area – has only two growth suburbs, so Logan City is the standout of southern Brisbane.</p>
<p>There are growth markets in other parts of the Greater Brisbane area as well – Brisbane-inner (4), Brisbane-east (5), Brisbane-south (3) Brisbane-west (3) and Redland City (5) all have some suburbs with rising sales activity.</p>
<p>There are still six suburbs we classify as danger markets, but that is half as many as two years ago. These are all inner-city suburbs where the market is dominated by high-rise apartments and where vacancy rates continue to be high, in contrast to the rest of the Greater Brisbane Area, and sales rates remain low.</p>
<p>Our analysis of price trends across the Brisbane metropolitan area shows that most suburbs have recorded house price growth in the last 12 months, but an even higher percentage have had growth in the most recent quarter.</p>
<p>This again shows that the city has done well through the pandemic period.</p>
<p>Our analysis shows that 62% of suburbs have recorded annual growth in their median house prices, but 73% have had uplift in the latest quarter.</p>
<p>It’s clear that the top end of the Brisbane market is doing best in this climate, driven partly by the reality that highly-ranked, well-located suburbs in this city often have median house prices in the $800,000s and $900,000s. For people leaving Sydney and Melbourne to relocate to South-East Queensland as part of the Exodus to Affordable Lifestyle, this looks attractive.</p>
<p>Suburbs to record annual median house price growth above 20% include Highgate Hill (28%), Fig Tree Pocket (25%), Nundah (20%) and Windsor (21%).</p>
<p>The inner-city house markets (in contrast to the apartment markets) are doing well, with good annual price growth in Bardon (10%) and Coorparoo (15%), as well as Highgate Hill.</p>
<p>Inner northern suburbs are also performing, including Grange (17%), Windsor and Nundah.</p>
<p>The upper end western suburbs are a standout. In addition to Fig Tree Pocket, there has been strong annual growth in median house prices in Sherwood (12%), St Lucia (14%) and Toowong (13%).</p>
<p>In the south, Yeronga (15%) and Greenslopes (10%) have done well, while in the affordable far north, there has been notable uplift in Woody Point (15%) and Beachmere (10%).</p>
<p><strong>Terry Ryder</strong><em> is the founder of hotspotting.com.au </em><br><em>ryder@hotspotting.com.au</em><br><em>twitter.com/hotspotting</em></p>
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Brisbane set to be Australia's property market leader: Hotspotting's Terry Ryder

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<p><span>The Greater Melbourne region has seen more profitability in their property markets than Melbourne, according to the recent CoreLogic Pain and Gain report.</span></p>
<p><span>“These include Hobsons Bay, Melton and the Mornington Peninsula, where around 98 per cent or more properties sold for a profit," the report read.</span></p>
<p><span>During the quarter, the median profit in the region averaged $328,000, demonstrating the diversity of performance in Greater Melbourne.</span></p>
<p><span>Regional Victoria only recorded 3.3 per cent of loss-making sales across all unit resales, compared to the Melbourne LGA’s 15.4 per cent.</span></p>
<p><span>Regional Victoria was one of four major regions across Australia where owner occupiers saw a higher incidence of loss-making sales than investors, along with Hobart, regional Tasmania and regional Northern Territory.</span></p>
<p><span>You can read about the Melbourne council region report here [link to Pain &amp; Gain Melb story].</span></p>
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j.ballantyne1990-6AQqhLzZaK

Greater Melbourne profitability tops Melbourne: CoreLogic Pain and Gain

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<p>EXPERT OBSERVER</p>
<p>When media occasionally stops sensationalising negatives in real estate and focuses on positives, they often refer to well-performed locations as “bucking the trend”.</p>
<p>This implies that a market doing well in the current climate is the outlier, the exceptional to the rule.</p>
<p>They’re not. These places ARE the rule. Markets doing well aren’t bucking the trend, they ARE the trend.</p>
<p>Our major newspapers are misleading consumers because their journalists are glass-half-empty people. Some of them are glass-completely-empty people.</p>
<p>In their mindset, a positive outcome doesn’t fit their definition of news. They’re wrong and that’s why newspapers and magazines are failing. Consumers are fed up with non-experts saturating the airwaves with inaccuracies and distortions that misrepresent important issues.</p>
<p>One of the biggest stories in Australian real estate is that shortage of rental properties. Vacancies are ultra low is most markets across the nation. In some places, they’re the lowest ever recorded.</p>
<p>Places where tenants are competing for scarce rentals, offering more than the asking rents in some cases, aren’t bucking the trend. They’re very much on trend.</p>
<p>But many investors are unaware. If they’re readers of certain major newspapers, they’ll believe that the situation with big city CBD areas (which are among the few places where vacancies are high) is the norm across Australia.</p>
<p>Major media keeps declaring that “prices are falling across Australia”. It simply isn’t so. Locations where prices are holding the line or are rising outnumber those where prices are dropping.</p>
<p>But the focus of journalists, and the economists who feed them misinformation, is on Melbourne and Sydney, which drag down national averages and create the impression of weakness in markets everything. It ain’t so.</p>
<p>My observation is that Melbourne and Sydney have been the exception to the rule for most of the past decade. When the two biggest cities were having their property boom (2013 to 2017, generally speaking), media represented this as a national property boom. But it wasn’t happening elsewhere.</p>
<p>When Sydney and Melbourne went into their correction phases (2018 and the first half of 2019) , with prices falling, media presented this to the public as a national property slump. But, again, it wasn’t happening across the nation. There were significant growth markets across the nation, including smaller capital cities and many important regional markets.</p>
<p>The current slump in Melbourne and some parts of Sydney (not nearly as severe as predicted by the chattering economists) does not describe Australia. The two biggest cities are bucking the trend.</p>
<p>The trend is markets with good sales activity led by home buyers including first-home buyers, prices steady or rising, and vacancies very low with upward pressure on rents.</p>
<p>Investors are largely sitting on the sidelines because they’re herd animals, but eventually they’ll get the message – or at least some of them will.</p>
<p>Here are a couple of examples which are typical of scenarios happening around the country.</p>
<p>The regional city of Orange is a good fit with the prevailing trends in real estate, including the Exodus to Affordable Lifestyle. It has a strong local economy, well suited to the times. The vacancy rate is 0.4%, prices have risen 5.5% in the past year, including 1.9% in the most recent quarter. Typical houses are in the $400,000s.</p>
<p>Similar sentiments apply to Mudgee in regional NSW – it’s getting buyers out of Sydney looking for a hill change. It has a strong and diverse economy, vacancies close to zero, median price up 7.5% in the past year, including 1.1% in the latest quarter.</p>
<p>The Hume municipality in Melbourne’s north is also tracking well, despite everything that Melbourne has been dealing with. It’s getting plenty of demand from first-home buyers and others moving out to seek an affordable lifestyle.</p>
<p>Vacancies are around 2%, despite the fact that this is a new growth area with high rates of new building. The median price is up 9% in the past year, including 1.2% in the most recent quarter.</p>
<p>Every day, as we go about our work doing research and writing reports for customers, we are coming across location after location with similar scenarios.</p>
<p>There are thousands of local markets that are doing well – sometimes despite the pandemic and in other cases because of the pandemic.</p>
<p>They are the trend, not the exception.</p>
<p>Wake up investors.</p>
<p><strong>Terry Ryder</strong><em> is the founder of hotspotting.com.au </em><br><em>ryder@hotspotting.com.au</em><br><em>twitter.com/hotspotting</em></p>
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Markets doing well are not the outlier: Hotspotting's Terry Ryder

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<p>EXPERT OBSERVER</p>
<p>Anyone who has been paying attention will know that there are plenty of solid to strong property markets around Australia.</p>
<p>The collapse in prices that attention-seeking economists forecast in March and regularly since then simply hasn’t happened. Of the 15 major market jurisdictions in Australia (eight capital cities and seven state regional markets), 11 have house prices higher than at the start of the year.</p>
<p>First-home buyers, boosted by government assistance, are very busy and other types of owner-occupiers are active also. Investors are starting to get off the fence and follow the trends that are pointing to growth in key areas.</p>
<p>So where are those prime targets, which currently have the ingredients for growth? I recently explored that subject with buyers’ agent Philip Robison as a guest on his podcast series. Under the topic heading of “Game-changing trends supercharging markets,” we discussed the key trends currently driving markets:</p>
<p>1. The cities with the virus under control have higher confidence, more activity, lower vacancies and busier markets.</p>
<p>2. The Exodus to Affordable Lifestyle, well under way before the pandemic, has been exacerbated by the virus shutdown periods.</p>
<p>3. First-home buyers are the most active cohort in the market at present, driven by high levels of govt assistance and low interest rates.</p>
<p>4. Vacancies are very low in many markets, which means rising rents - and history shows that prices tend to follow.</p>
<p>So which locations are positively impacted by these key trends?</p>
<p>1. Adelaide, Perth, Brisbane, Darwin, Canberra and Hobart all have few pandemic issues and they have busy property markets. Adelaide has one of the most competitive markets in the nation, Perth has been a huge increase in sales activity in recent months, Brisbane markets are rising steadily and Canberra is a standout because it has delivered price growth every month since March.</p>
<p>2. The Exodus to Affordable Lifestyle is mostly about regional Australia: the rising jurisdictions include regional Victoria near Melbourne, Regional NSW near Sydney and Regional Qld near Brisbane. Brisbane itself is also getting momentum from the Exodus trend, particularly from people vacating Sydney and looking for a city less congested and more affordable.</p>
<p>3. First-home buyers are busy in the outer-ring suburbs of most capital cities, but particularly in places like Brisbane, Perth and Adelaide. They’re also targeting regional cities and towns, especially those within striking distance of the big cities - so Regional Victoria near Melbourne, Regional NSW near Sydney, Regional Qld near Brisbane.</p>
<p>4. Vacancies are particularly low in Adelaide, Perth, Brisbane, Darwin, Canberra and Hobart, and in most key regional markets across Australia. It’s not uncommon to find locations where vacancies are below 1%. Agencies across the country are crying out for rental listings.</p>
<p>So, where does that point us? Well, some locations are being boosted by all of those four trends.</p>
<p>Therefore, the locations benefiting most from all of these dominant trends are ...</p>
<ul>
<li>Adelaide,</li>
<li>Brisbane,</li>
<li>Regional Victoria near Melbourne,</li>
<li>Regional NSW near Sydney,</li>
<li>Regional Qld near Brisbane.</li>
</ul>
<p>They’re not the only markets that are pumping strongly, but they are the standouts.</p>
<p>Terry Ryder is the founder of hotspotting.com.au<br> ryder@hotspotting.com.au<br>twitter.com/hotspotting</p>
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Where are Australia's standout property markets? Hotspotting's Terry Ryder

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<p>EXPERT OBSERVATION</p>
<p>All capital cities recorded a rise in residential prices in the March 2020 quarter, led by Sydney (+1.9 per cent) and Melbourne (+2.1 per cent). </p>
<p>The two largest cities both recorded gains of more than +10 per cent over the year, taking the weighted average capital city price +7.4 per cent higher over the year to March.</p>
<p>Most of the COVID restrictions were rolled out in March, so there was little impact on the price charts by capital city. </p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/17/PW2.jpg" alt=""></p>
<p>Sydney houses and attached dwellings both recorded quarterly gains.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/17/PW3.jpg" alt=""></p>
<p>The mean dwelling price rose to a record high at an estimated $690,200.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/17/PW4.jpg" alt=""></p>
<p>The number of dwellings was an estimated 10,485,700.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/17/PW5.jpg" alt=""></p>
<p>The value of Australia's dwelling stock hit a record high, with a preliminary estimate of $7.23 trillion.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/17/PW6.jpg" alt=""></p>
<p>The ratio of dwelling stock to GDP increased to 3.79x, but was still just below 2017 levels.</p>
<p><img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/17/PW7.jpg" alt=""></p>
<p>This is a high figure in global terms, but plenty lower than, say, Hong Kong.</p>
<p><em><strong>Pete Wargent</strong> is the co-founder of AllenWargent property buyers and a best-selling author and blogger<strong style="font-size: 12.16px;"> </strong></em></p>
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