Iwan Sunito's vision for a landmark mixed-use precinct in Sydney's Inner West has taken a major step forward, with approval granted for the $1.9 billion Five Dock development first unveiled earlier this year.

The approved scheme by <a href="https://www.apartments.com.au/developers/one-global-capital">One Global Capital</a> will deliver an 80,500 sqm mixed-use precinct comprising 840 apartments, integrated hotel accommodation, commercial and retail space, alongside publicly accessible open space designed to create a new destination for the growing suburb.

"This is a significant milestone for One Global Capital and for the future of housing delivery in Sydney," Sunito said.

"The Housing Delivery Authority was established to identify major housing projects capable of delivering meaningful supply more efficiently, and we are delighted that Spencer Street has been recognised as one of those projects.”

He said the declaration reflected the rapid progress achieved since acquiring control of the site.

"In less than seven months we have progressed from taking control of the site to securing entry into one of the NSW Government's most important planning pathways. It reflects the experience of our team, the strength of our consultant group led by Urbis, and our long-term commitment to delivering transformational projects that contribute to Sydney's future."

When the project was revealed earlier this year, Sunito described the opportunity as one of the strongest development sites he had worked on.

"I probably hadn't appreciated the uniqueness of the site until more recently when putting together the concept plans," Sunito said.

"The proximity to the water, and the golf course opposite, is unlike any other part of Parramatta Road. We have a unique position and view corridors over the water that makes this one of the best sites I've worked on."

The development has evolved since its initial announcement, with the approved plans increasing the residential component from the originally proposed 750 apartments to 840 homes while retaining the project's focus on creating an integrated neighbourhood rather than a standalone residential development.

Read more:&nbsp;<a href="https://www.apartments.com.au/news/nsw/a-city-within-a-city-iwan-sunito-flags-1-5-billion-mixed-use-precinct-in-five-dock">"A city within a city": Iwan Sunito flags $1.5 billion mixed-use precinct in Five Dock</a>

The precinct will combine apartments with hotel accommodation, commercial workplaces, retail offerings and public spaces, creating a mixed-use environment intended to serve both residents and the broader Five Dock community. The proposal also continues the collaboration between One Global Capital and internationally recognised architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a>, whose previous work with Sunito includes Infinity, Arc and Skye North Sydney.

Takada previously said the design was driven by a philosophy of integrating nature into the built environment.

"The concept for this development is born from our design approach to naturalising architecture," Takada said.

"The public realm benefits from biophilic design that integrates generous landscaping, and the development is optimised for natural daylight, airflow and water views to foster wellbeing, sustainability and spaces that foster community interaction."

Sunito has consistently described the project as a "city within a city", with a strong emphasis on creating a destination that extends beyond housing.

"We want to create a development that's not only to be seen, but to be experienced by the whole local community," he said.

The approval comes as Five Dock continues its transformation ahead of the opening of the Sydney Metro West line, with the new Five Dock station set to significantly improve connections between the Inner West, Parramatta and the Sydney CBD.&nbsp;

The precinct will also benefit from its proximity to the Parramatta Road corridor, nearby waterfront parklands and established retail and dining offerings that have made Five Dock one of Sydney's most tightly held Inner West suburbs.

Joel Robinson

Iwan Sunito secures approval for $1.9 billion Five Dock mixed-use precinct

The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

Rental market

<html><body>
The weekly rent in Melbourne for houses has continued to increase, according to SQM Research’s latest weekly report.
The weekly rent for Melbourne houses currently sits at $500, an increase of 4.9 perent over the last year.
<a href="https://www.propertyobserver.com.au/images/2017/01/31/Screen%20Shot%202017-01-31%20at%202.37.42%20pm.jpg" target="_blank">Click to enlarge</a>
<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/2017/01/31/Screen%20Shot%202017-01-31%20at%202.37.42%20pm.jpg" alt="">
The weekly rent for three bedroom houses in Melbourne is around the same while renting a unit costs $379.
A four bedroom house at <a href="https://www.realestate.com.au/property-house-vic-mill+park-420362602" target="_blank">16 Mill Park Drive</a>, Mill Park (above) is available for rent for $520 per week.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Weekly house rent in Melbourne sits at $500: SQM Research

<html><body>
When it comes to affordability and lowest rents, there’s no beating Tassie.
Queenstown and Rosebery in Tasmania’s West Coast top the list of median rents in 2016 for both houses and units, according to property analysis firm CoreLogic.
While Queenstown had the lowest median rent of $140 per week for houses, Rosebery scored for units, again with a median rent of $140 pw, figures from CoreLogic’s Best of the Best 2016 show.
In fact, the West Coast appears in four places in the top 10 list of lowest median rents for houses.
Even though the median rents are the same for both Queenstown and Rosebery, the median price values are different. While in Queenstown, it is $90,008 for houses, in Rosebery the median is $76,846 for units, implying a higher rental yield in Rosebery.
Property Observer found some houses and units for rent in the two towns around the median prices.
1. A three-bedroom house at <a href="https://www.realestate.com.au/property-house-tas-queenstown-419315994" target="_blank">25 Austin Street, Queenstown</a>, Tas 7467 (above) is available for $140 pw, the same as the median price. 
2. Another three-bedroom house at <a href="https://www.realestate.com.au/property-house-tas-queenstown-419853814" target="_blank">6 Hurst St Queenstown</a> Tas 7467 (below) is out for renting at $135 pw.
<img src="https://www.urban.com.au/images/2017/01/13/Screen%20Shot%202017-01-13%20at%209.33.42%20AM.png" alt="">
 
3. In Rosebery, a two-bedroom unit at <a href="https://www.realestate.com.au/property-unit-tas-rosebery-419504506" target="_blank">2/4 Huon Court Rosebery</a> Tas 7470 (below) is up for rent for $120 pw, well below the median price. 
<img src="https://www.urban.com.au/images/2017/01/13/Screen%20Shot%202017-01-13%20at%209.34.41%20AM.png" alt="">
Property Observer found only one unit with the applied filters around the median price.
</body></html>

prateek24-ezbwHMbNAk

Tassie led in lowest median rents in 2016: CoreLogic data 

<html><body>
You can still rent in Sydney for under $350 per week. Willmot in Sydney's Blacktown is the place if you are looking for houses and Berkeley Vale in Wyong for units, says CoreLogic in its top 10 picks for the lowest median rent suburbs in Sydney in 2016.
The median rent for houses in Willmot was $330, according to CoreLogic's analysis to September 2016. The top 10 list in CoreLogic's Best of the Best 2016 is evenly split among the council areas of Blacktown and Wyong, with Blacktown's Willmot and Blackett the top two cheapest followed by Budgewoi in Wyong.
For units, Berkeley Vale's median rent was $300, followed by Carramar in Fairfield at $310 pw and Bradbury in Campbelltown at $315.
The median price of houses in Willmot was $420,492 while in Berkeley Vale, the median value of units was $323,189.
<a href="https://www.propertyobserver.com.au/images/2017/01/11/SydMedRentLo-Blacktown.png" target="_blank">Click to enlarge</a>
 <img src="https://www.urban.com.au/images/2017/01/11/SydMedRentLo-Blacktown.png" alt="">
<a href="https://www.propertyobserver.com.au/images/2017/01/11/SydMedRentLo-Wyong.png" target="_blank">Click to enlarge</a>
<img src="https://www.urban.com.au/images/2017/01/11/SydMedRentLo-Wyong.png" alt="">
Property Observer looked for some houses and units that match the criteria for lowest median rents.
A two-bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-willmot-419996750" target="_blank">32a Resolution Avenue Willmot NSW 2770</a> is up for rent at $330 per week, matching the rental median.
<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/2017/01/SydLowRent-Willmot.jpg" alt="">
For units, Property Observer found one example. A one-bedroom unit at <a href="https://www.realestate.com.au/property-unit-nsw-berkeley+vale-413379731" target="_blank">28A Wyong Road Berkeley Vale NSW 2261</a> is available for $250 per week.
<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/2017/01/SydLowRent-Berkeley.jpg" alt="">
 
</body></html>

Sydney's Blacktown vies with Wyong for lowest median rentals: CoreLogic

<html><body><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
Leasing activity in the Perth metro area is up four percent in the three months to October compared to the three months to September according to REIWA.
Rental listings fell in the three months to October, down two percent on the three months to September.
Hayden Groves, REIWA president said the average number of days it took to lease a rental was unchanged at 53 days and the vacancy rate for October was reported at 6.9 percent.
"All sub-regions in the metropolitan area experienced increases in activity, with the South East and Central sub-regions the stand out performers, lifting seven and five per cent respectively over the three month period," he said.
“Perth’s rental market has certainly presented its challenges in recent times, however it’s pleasing to see that leasing activity is healthy across the metro area. Tenants clearly recognise that there is a good opportunity in the current market to secure themselves a new lease at a more affordable price.
“Although listings remain at elevated levels, we are seeing signs that stock volumes have begun to stabilise with the rate of increase slowing in recent months. There was also little change to Perth’s overall median rent price in the three months to October, with the price adjusting back slightly to $365 per week.
“While the Perth rental market clearly still presents some difficulties for investors, it’s important to remember that although rents have fallen so too have interest rates with many investors able to ride out the downturn as a result. Perth investors are well advised to heed the advice of their property managers to help ensure their rental appeals to tenants in what is a competitive market."
 
<a href="/images/2016/11/24/Screen%20Shot%202016-11-24%20at%2012.43.48%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/24/Screen%20Shot%202016-11-24%20at%2012.43.48%20PM.png" alt="">
 
</div>
</div>
</div></body></html>

jonathanchancellor-7SQnKwU6yx

Signs of stability in Perth's rental market

<html><body>
National residential vacancies edged down in October according to SQM Research, with a national vacancy rate of 2.3 percent, down from 2.4 percent in September 2016.
Louis Christopher, SQM Research managing director said the biggest capital cities, Sydney and Melbourne recorded vacancies rates of 1.7 percent and 1.9 percent, respectively, down marginally from September 2016, while Brisbane’s vacancy rate rose to 3.0 percent, up from 2.9 percent, one of only two capital cities to record a rise, along with Darwin (up to 3.2 percent from 3.1 percent).
<a href="/images/2016/11/15/Screen%20Shot%202016-11-15%20at%2012.21.27%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/15/Screen%20Shot%202016-11-15%20at%2012.21.27%20PM.png" alt="">
"Perth reported the highest vacancy rate at 4.9 percent, though it was down slightly from the previous month. Hobart had the tightest rate at just 0.5 percent, down from 0.6%. Year-on-year results demonstrate that the national vacancy rate is steady," he said.
"Sydney remains the most expensive city for rents in Australia, where asking rents for houses sitting at $738 a week and $510 for units. Asking rents have surged in Canberra, up 9.3 percent for houses and 8.0 percent for units from a year earlier. Despite a tight vacancy rate, Hobart continues to offer the most affordable rental accommodation, with houses costing just $356 a week and units averaging $297 a week.
"Reflecting its high vacancy rate, Perth has recorded falls in asking rents of 11.0 percent for houses and 10.7 percent for units over the past 12 months. Yearly falls have also been posted in Darwin, with asking rents down 2.5 percent for houses and 3.1 percent for units. In Brisbane too, asking rents are down 1.8 percent for houses and up just 1.1 percent for units.
"Asking rents have slipped back in Brisbane as vacancy rates have continued to rise this year. At 3.0 percent, the rental market is finally favouring tenants and given the surge in new apartment supply, rents in Brisbane could continue to fall from here, particularly in the inner city.
<a href="/images/2016/11/15/Screen%20Shot%202016-11-15%20at%2012.23.46%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/11/15/Screen%20Shot%202016-11-15%20at%2012.23.46%20PM.png" alt="">
“Vacancies are likely to rise in Melbourne, Brisbane and Sydney over 2017 as more new high-rise apartment developments come onto the market. However, we believe that oversupply will largely be limited to inner-city areas where apartment supply is rising the most, which will temper rental growth."
</body></html>

National residential vacancies edged down in October: SQM Research

<html><body>
More than 7,000 Renter Resumes have been created on Rent.com.au in the first two weeks following launch.
Renter Resume already used for more than 5,000 online rental applications.
Adoption of RENT's Renter Resume feature in the two weeks since it was launched on <a href="https://www.rent.com.au/">www.rent.com.au</a> has exceeded Company expectations.
Greg Bader, Rent.com.au chief executive officer, said the 7,000 Renter Resumes created since launchhave been used over 5,000 times to apply for rental homes.
"Online applications save time for both renters and property agents, yet industry-wide most applications today are still received via paper forms," he said.
"We've seized an opportunity to make renting easier for everyone involved and the products we bring to market will continue to reflect this.
"The adoption rate for existing RENT products such as RentCheck, RentBond and RentConnect have also increased significantly as the Renter Resume online application process seamlessly introduces renters to these highly convenient products.
"Our recently launched WalkScore® feature is also getting great feedback.
"People are loving the additional information about a property, especially how it calculates their commute times from every property they view. Watch this space, we have even more cool stuff being released over the coming months.
</body></html>

Property 101: Uptake on Rent.com.au applications increasing

<html><body>
Melbourne is one of the cheapest places in Australia to rent an apartment or house - but not an individual room, according to a new rental price metric by Rent.com.au.
The Rent.com.au median room price metric shows that Sydney has the highest rental prices per room at almost $250 a week, followed by Canberra, Darwin and Melbourne.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="142">
City (metro area)
</td>
<td valign="top" width="142">
Median Room/wk
</td>
<td valign="top" width="142">
Median Property/wk
</td>
</tr>
<tr>
<td valign="top" width="142">
Sydney
</td>
<td valign="top" width="142">
$248
</td>
<td valign="top" width="142">
$520
</td>
</tr>
<tr>
<td valign="top" width="142">
Canberra
</td>
<td valign="top" width="142">
$183
</td>
<td valign="top" width="142">
$430
</td>
</tr>
<tr>
<td valign="top" width="142">
Darwin
</td>
<td valign="top" width="142">
$175
</td>
<td valign="top" width="142">
$470
</td>
</tr>
<tr>
<td valign="top" width="142">
Melbourne
</td>
<td valign="top" width="142">
$163
</td>
<td valign="top" width="142">
$380
</td>
</tr>
<tr>
<td valign="top" width="142">
Brisbane
</td>
<td valign="top" width="142">
$150
</td>
<td valign="top" width="142">
$400
</td>
</tr>
<tr>
<td valign="top" width="142">
Hobart
</td>
<td valign="top" width="142">
$135
</td>
<td valign="top" width="142">
$330
</td>
</tr>
<tr>
<td valign="top" width="142">
Perth
</td>
<td valign="top" width="142">
$130
</td>
<td valign="top" width="142">
$380
</td>
</tr>
<tr>
<td valign="top" width="142">
Adelaide
</td>
<td valign="top" width="142">
$125
</td>
<td valign="top" width="142">
$340
</td>
</tr>
</tbody></table>
Rent.com.au CEO Greg Bader said the new price metric was a different way to look at the cost of a Rental, more accurate in a sense for people that share a home with others
“Much of the existing data about rental properties and prices is based on metrics developed for homeowners, like dwelling price. We’ve introduced the median room price metric, it goes someway to levelling the distortion around the type of property (flat, unit, house) and hope it provides another view that can be used by Australian renters,” he said.
“There are significant differences. For example, the data based on dwellings shows that it costs the same to rent per week in Perth and Melbourne. But that’s not really true. The reality is that it costs renters more than $30 extra per room in Melbourne each week.
“The difference between Adelaide and Sydney is more than $120 per room. That extra cost per room has a serious impact for families as well as people who are looking to share a home with other renters. These are the sort numbers - designed specifically for renters, not homeowners - that have so far been hidden from view.”
Mr Bader said Rent.com.au was dedicated to developing new services designed specifically for Australia’s growing number of renters.
“So much of the public discussion around real estate in Australia is focused on owning property, but there’s about 7 million people in Australia who rent their homes and we want them to be represented as well,” he said.
A recent Rent.com.au survey found that long-term security and rental affordability were two of the biggest concerns held by Australian renters, and that families were the most common kind of renters - accounting for 40 percent of tenants.
Corrabare, NSW mother of three Tabatha, 43, said she had to move further out from the city as rental prices in metro areas increased.
“I’m in a position now where I’ve got a roof over my head, but for how long?” she said.
“I’ve moved 19 times since 2006. I moved house the day my 7-year-old was born. She’s never had stability. I’ve taught my kids to respect where they live and I take care of the property, but I don’t have a chance compared to renters with no kids.”
</body></html>

Rent.com.au new metric shows Melbourne as cheapest place to rent an apartment or house

<html><body>
<img src="https://counter.theconversation.edu.au/content/65465/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Australia’s long run of “home ownership for all” appears to have ended. 
Smashed avocado aside, young people are now much less likely than their parents to ever own their own home. Almost one-third of the nation rents, mainly from private landlords. 
Governments have gradually shifted the focus of welfare away from public housing and towards subsidising housing in the private rental market. At last count, around 1.3 million households were receiving government rental assistance – that’s around one in five Australian households receiving on average A$128 per fortnight. 
As the private rental sector expands and the cost of housing rises, it is important to acknowledge that the effects of unaffordable housing cascade into other areas of life, in particular, mental health. 
Our research has found unaffordable housing has a negative effect on mental health. And it’s worse for private renters than those with a mortgage. When lower-income private renters’ housing becomes unaffordable, their mental health worsens. This doesn’t seem to happen for people on similar incomes paying a mortgage. 
It’s different in the UK. Our cross-national comparison conducted before austerity measures were taken in the UK suggested more generous benefits and conditions may have protected their lower-income private renters from the mental health effects experienced by their counterparts in Australia. 
While this work highlights the potential protective effect of affordable housing, recent changes in the UK as a result of austerity measures may have taken the Brits backwards. 
<h2>A ‘natural experiment’</h2>
A recently published analysis tracked the effect of a national reduction to government-provided rent assistance in the UK. 
In April 2011, austerity measures in the UK resulted in a reduction of the rental housing assistance payment. This meant that incomes for rent assistance recipients fell, on average, by approximately £1,220 (A$2,000) per year. Some people experienced much smaller declines, but many witnessed much larger reductions in their housing benefit. 
Although not without methodological challenges, the research found reduced government support to meet housing costs has a negative impact on people’s mental health. The policy caused a measureable population-wide increase in depressive symptoms, with around 26,000 people experiencing symptoms for the first time.
<h2>Lessons for Australia</h2>
Affordable housing is an effective health intervention. Australia has some of the world’s least affordable housing, and while we debate the solutions to this (such as removing negative gearing), government assistance to meet housing costs protects many people from poor mental health, and possibly, depression. 
As World Medical Association president Professor Michael Marmot argues, housing is a form of preventative health care. The one in five Australian households relying on government assistance to pay their rent are currently receiving this form of preventative health care. 
Households that receive private rent assistance gain more than just shelter. Rent assistance may allow people to live nearer to good schools, buy healthier food for their kids, and provide some residential stability. It also protects their mental health. 
Cuts to private rent assistance may do the opposite: pushing people away from good schools, leaving them without adequate food, and exposing them to housing insecurity. As the UK work shows, even slight changes to policy can have major (and often unintended) effects, particularly for mental health. The most economically vulnerable are likely to be disproportionately affected. 
As we enter an era of substantial reassessment of the structure of welfare in Australia, this UK research highlights the importance of harnessing natural experiments to systematically test the outcomes of broad policy change, and develop evidence on which to build better health into the future. 
While Australia’s cohort of private renters grows and housing affordability stress escalates, we need to ensure that health, well-being and productivity are supported. We need to address the structural factors that contribute to our housing affordability crisis. We also need to support people who are disadvantaged by it. We shouldn’t underestimate the importance of getting housing right.
Rebecca Bentley is associate professor, Centre for Health Equity, Melbourne School of Population and Global Health, University of Melbourne and can be contacted <a href="https://theconversation.com/profiles/rebecca-bentley-173502" target="_blank">here</a>.
Aaron Reeves is associate professorial research fellow in Poverty and Inequality, London School of Economics and Political Science and can be contacted <a href="https://theconversation.com/profiles/aaron-reeves-298453" target="_blank">here</a>.
Emma Baker is associate professor, School of Architecture and Built Environment, University of Adelaide and can be contacted <a href="https://theconversation.com/profiles/emma-baker-172081" target="_blank">here</a>.
All are authors for The Conversation.
</body></html>

jchancellor-FAypfDUnLy

Housing: the hidden health intervention

<html><body>
SPONSORED POST
Signing your business up for a property lease is a lot different than renting a home to live in.
Here’s nine things you should keep in mind when taking out a commercial lease.
1. Is the rent appropriate?
Exactly what space are you renting? Does it include common areas such as hallways, rest rooms, and elevators? How does the landlord measure the space –some measurement practices include the thickness of the walls. Also keep in mind that commercial lease agreements usually provide for an annual percentage-based rent increase.
2. Set cost parameters from the start
Negotiate with the landlord for a cap on the percentage increase to avoid unmanageable costs later on with the rent going up when you least need it. Check to see if there is a use clause. Many lease agreements will incorporate a use clause to define the activity the tenant can engage in on the premises.
3. Who’s responsible for what?
Who will maintain and repair the premises, including the heating and air conditioning systems? Responsibilities for the building and any equipment are often shared between landlord and tenant. The agreement should spell this out clearly.
4. Set your own timeframe
Most landlords prefer long-term lease agreements. If it’s a new business, it might pay to ask the landlord for a short-term lease with an option to renew. This may raise the rent you pay, but it could be a better alternative than agreeing to a lengthy term.
5. Can you make changes to the property?
A lease should address what improvements or modifications can be made to the property, which party will pay for the improvements, and whether the tenant is responsible for returning the unit to its original condition at the end of the tenancy. It should also spell out who will own the improvements when the lease expires.
6. Remember the little things
If the business needs it, make sure that the lease agreement does not prohibit putting up signs that are visible from the street. Agree on who is responsible for rates, taxes, insurance and other outgoings; for example, contents insurance or council and water rates. It’s also important to check if the lease agreement allows subletting. This is important because the lessee is still responsible for paying the rent if the business fails or relocates. An assignment or sublet clause in place allows the business to find someone else to cover the rent.
7. Know your rights
Does the lease have a Right of Assignment clause? If you have to sell the business, a Right of Assignment clause gives you the option of transferring the lease to a new tenant. Is there an option to renew the lease or expand the space you are renting? How would the lease be terminated? Is there a notice requirement? Are there penalties for early termination?
8. Seek financial advice
Before you sign, you should check the deductibility of rent and your tax liabilities with your financial adviser. If the agreement requires the business to purchase leased goods or equipment, it could invalidate your right to claim rent as a tax deduction. A financial adviser is essential here.
Check rent deductibility and tax liabilities with a financial adviser before you sign a lease.
9. Are there additional clauses?
If you are leasing premises in a shopping centre, it’s worth asking whether you have to comply with the centre’s fit out rules (shopping centres can often be more restrictive), whether you are required to contribute financially to the centre’s marketing and promotional activities and whether your business would be affected by any ownership plans to redevelop or expand the centre.
So there you have it: A solid checklist to get started.
For more information, <a href="https://bs.serving-sys.com/BurstingPipe/adServer.bs?cn=tf&amp;c=20&amp;mc=click&amp;pli=18755997&amp;PluID=0&amp;ord=%5Btimestamp%5D" target="_blank">click here</a>.
ABOUT REALCOMMERCIAL.COM.AU: realcommercial.com.au is the leading website in Australia for commercial property, attracting an average of 1.7 million visitors a month (Source: Nielsen Online Market Intelligence, Total Traffic, average calculation May-July 2015, includes app traffic from Omniture Site Catalyst as Nielsen doesn’t report on app). It is owned and operated by realestate.com.au Pty Ltd, a subsidiary of ASX-listed REA Group Limited ACN 068 349 066 (ASX:REA).
</body></html>

9 things to remember when taking out a commercial lease 

<html><body>
GUEST OBSERVER
New York's ban on commercial short term lettings – and the advertising of non-conforming short terms stays – should provide a model for Australian jurisdictions.
New York state law prohibits apartment owners from <a href="https://www.reuters.com/article/us-airbnb-regulation-insight-idUSKCN12L0DY" target="_blank">renting units for less than 30 days</a> if they are not present, with fines of up to US$7500 forbreaches. On Friday, New York Governor Andrew Cuomo approved a law that also outlawed advertising of short-term stays on sites such as Airbnb that violated the existing law. 
The New York law follows similar crackdowns in cities such as San Francisco, Berlin, Paris and Amsterdam, while Dublin and London are also considering tightening regulations. 
The global move to curb commercial unregulated short-termaccommodation comes less than a week after a NSW Legislative Assembly Inquiry recommended a reduction in regulation, a move that has been strongly opposed by resident/strata bodies and regulated accommodation operators. 
It is ironic that at a time when city administrators across America and Europe are imposing major restrictions on unregulated commercial short-term accommodation operators that a NSW parliamentary committee should be advocating a softening of regulations
The overwhelming majority of listings for unregulated short term accommodation in Sydney are for full houses and flats involving no sharing, and increasingly the sector is being controlled by commercialoperators with multiple properties available 365 days a year. 
This is the same situation that has occurred in American and European cities and they have taken action to control the situation.
We call on Australian governments at all levels to take note and take action to protect residents, communities and regulated accommodation operators.
As in New York we want a very specific ceiling on the number of days an apartment or house can be let out on the short-term market and we want online distribution channels to be held responsible for ensuring these limits are not exceeded and that they advertise only properties that are compliant – meeting safety, insurance, body corporate, strata, council and state regulations. 
We are not against genuine ‘sharing’, but we believe there needs to be sensible and proportional regulations imposed on non-resident commercial property owners – especially multiple-property investors – who rent out full properties for short term stays.
Carol Giuseppi is chief executive officer, Tourism Accommodation Australia and can be contacted <a href="https://nsw.tourismaccommodation.com.au" target="_blank">here</a>. 
</body></html>

Rental market

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Rental market

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News