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


Joel Robinson

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

<p><a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.</p>

<p>The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.</p>

<p>Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.</p>

<p>“Brisbane was the right step for Sammut,” Sammut said.</p>

<p>“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”</p>

<p><img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" /></p>

<p>Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.</p>

<p>The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.</p>

<p>“We are DA approved now which is very exciting,” Sammut said.</p>

<p>“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”</p>

<p><img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" /></p>

<p>Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.</p>

<p>“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.</p>

<p>The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.</p>

<p>“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”</p>

<p>The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.</p>

<p>The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.</p>


Sammut secures approval for debut Brisbane apartment development in Toowong

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


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

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


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

<p>It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.</p>

<p>Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.</p>

<p>Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be</p>

<p data-end="683" data-start="511">"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.</p>

<p data-end="882" data-start="690">"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."</p>

<p data-end="882" data-start="690">[smartcode_project:default project_id=134646 project_image_fid=6109]</p>

<p>The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.</p>

<p>The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.</p>

<p>Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.</p>

<p>[smartcode_project:default project_id=134646 project_image_fid=6110]</p>

<p>Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.</p>

<p>The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.</p>

<p>[smartcode_project:default project_id=134646 project_image_fid=6116]</p>

<p data-end="247" data-is-last-node="" data-is-only-node="" data-start="0">While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.</p>

<p>WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.</p>

<p>With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.</p>

<p>[smartcode_project_cta:default project_id=134646]</p>


WM Residences fills gap in Mordialloc townhouse market

Rental market

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<div>A bit of early disclosure: I'll admit here straight away that I had a few gripes with the Grattan Institute during the recent election campaign when I felt they were twisting 'facts' to suit their arguments. For example:</div>
<p><a href="/images/2016/10/24/Grattan.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/10/24/Grattan.jpg" alt=""></p>
<p> </p>
<div>Over years of experience in housing markets, I've literally never heard of anyone paying a huge lump of stamp duty only to sell their investment property because the rents had become too high (before buying another loss-making investment property, and incurring yet more stamp duty).<br><br>Would never happen in a month of Sundays.</div>
<div> </div>
<div>Anyway, I generally don't bear grudges, so we can let bygones be just that!<br><br>Let's move on from that to today's op-ed from Grattan, which recommended that other states follow the Australian Capital Territory (ACT) lead in phasing out stamp duties for a broad based property tax.<br><br>
</div>
<div><strong><span style="text-decoration: underline;">Land tax in the ACT</span></strong></div>
<div> </div>
<div>In theory, phasing out stamp duty - a pro-cyclical levy which discourages labour force mobility (if, for some unknown reason, not landlord churn!) - in favour of higher recurrent property taxes is a sound economic principle.</div>
<div> </div>
<div>Of course, one always fears that new and additional taxes raised will be frittered away on infrastructure white elephants, while those of us that have already paid their stamp duties are naturally inclined to be grouchy (in the same way that I'm bound to think that Chartered Accountants shouldn't have open book exams, because we didn't 'back in my day'). </div>
<div> </div>
<div>Overall, I tend to agree with most of Grattan's points, with stamp duties being an inefficient if extraordinarily lucrative levy. </div>
<div> </div>
<div>In fact, I wrote a piece myself for <em>Property Observer</em> back in 2013 which discussed precisely the potential benefits of introducing a progressive and recurrent property tax (i.e. not necessarily a straight land tax). </div>
<div> </div>
<div><a href="/images/2016/10/24/ACT4.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div class="separator"><img src="/images/2016/10/24/ACT4.jpg" alt=""></div>
<div>
<strong><span style="text-decoration: underline;"><br></span></strong><strong><span style="text-decoration: underline;">Canberra housing</span></strong>
</div>
<div> </div>
<div>That said, five years in to the experiment, there was no analysis provided by Grattan of the impact of the tax reforms to date on the housing market in the nation's capital itself. </div>
<div> </div>
<div>As always, of course, it's impossible to isolate the impact of shifts in property taxes.<br><br>We can't after all run a parallel universe wherein another version of Canberra sticks with the old regime as a control experiment (Lord knows, just the one Canberra existing in our own Universe is plenty!).</div>
<div> </div>
<div>In any event, here's a quick look at what's been going down.</div>
<div> </div>
<div>The ABS Residential Property Price Indexes to 30 June 2016 showed established house prices rising by +8.0 per cent, and a +6.0 per cent increase for all dwellings - rates of price growth which in a healthy market should be resulting in a strong supply response.<br><br>Anecdotal evidence suggests that house prices have been going a bit silly in parts of Canberra, though I do worry about the outlook for the new apartment market in the city.</div>
<div> </div>
<div>Investor loans have understandably declined due to the inevitable uncertainty of change. This may in part be due to tighter lending restrictions introduced by APRA in 2015, and in any case many would argue that lower investor loan activity is on balance a good thing.  </div>
<p><a href="/images/2016/10/24/ACT1.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/10/24/ACT1.jpg" alt=""></p>
<p><br><span>Less thrillingly, detached house approvals have tanked.</span></p>
<p><a href="/images/2016/10/24/ACT1-1.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/10/24/ACT1-1.jpg" alt=""></p>
<div>The trend in monthly new house commencements has basically crashed in the ACT, down by more than 50 per cent since the beginning of 2011.<br><br>Attached dwelling commencements, on the other hand, have held up much better, perhaps reflective of record low interest rates, a structural shift towards attached dwellings, as well as strong pre-sales to offshore investors.<br><br><strong><span style="text-decoration: underline;">Long lead times</span></strong><br><br>Whatever the causes, with the long lead times for apartments there are presently more than 5,000 dwellings under construction in the ACT, of which only 600 or so are detached houses. </div>
<div> </div>
<div>As a result of the above dynamics, vacancy rates in the capital have nosedived from 2.5 per cent in 2014 to just 1.1 per cent, even though population growth in the entire territory is tracking at just 5,000 per annum.</div>
<p><a href="/images/2016/10/24/VR.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/10/24/VR.jpg" alt=""></p>
<p> </p>
<div>According to SQM Research, after a lag asking rents have soared lately, up by +12.3 per cent over the past year for houses, while even apartment asking rents have ripped +9.3 per cent higher. And this through a period when nationally rental growth is tracking at two decade lows.</div>
<div> </div>
<div>Granted this vast increase in asking rents is yet to be reflected in the ABS consumer price indexes, which lag significantly. The figures for Q3 2016 will be released next week.<br><br>But in any case, when the 5,000 dwellings under construction eventually hit the market, rents for apartments at least should eventually return to flat or falling in real terms.<br><br><div class="separator"><a href="/images/2016/10/24/Z1.jpg" target="_blank">Click to enlarge</a></div>
<div class="separator"><img src="/images/2016/10/24/Z1.jpg" alt=""></div>
</div>
<p><strong><span style="text-decoration: underline;">The wrap</span></strong></p>
<div>No strong conclusion either way here.<br><br>As noted, we can't readily know the counter-factual, while some of the prevailing housing market dynamics in Canberra may be related to restricted land release, in particular the lack of responsive detached housing supply. </div>
<div> </div>
<div>On taxes, my view is that homeowners shouldn't have to pay twice, and that will no doubt be the view of most other homeowners too.<br><br>Therefore in the real world the most populous states would find it extremely difficult to phase in such a tax with the required long exemption period for existing homeowners, due to the initial revenue shortfall (look at the unprecedented stamp duty windfalls being delivered in New South Wales, for example).</div>
<div> </div>
<div>I'd also be very wary of declaring the ACT experiment an unqualified success while even in a low density market such as Canberra with moderate population growth asking rents for houses are rising at more than twelve times the rate of inflation!</div>
<div> </div>
<div>Nevertheless, it looks to me as though the rental market will probably correct itself in time with a flood of new apartment stock in the supply pipeline.</div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
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pwargent-M4siyDbqQY

Asking rents soaring in Canberra, but why? Pete Wargent

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<p>Earlier this year, law changes clarified that it is now a material fact if a home is listed on the Loose-fill Asbestos Insulation register.</p>
<p>Material facts refer to information which affects a consumer's decision about a property and must be disclosed before any agreement is entered into.</p>
<p>From 30 October 2016, the standard tenancy agreement includes a requirement to notify tenants if the premises they want to lease is: on the Loose-fill Asbestos Insulation register, or added to the register during the tenancy.</p>
<p>This information is important to tenants because a property containing loose-fill asbestos insulation could be a health risk.</p>
<p>You can now download an amended version of the standard form residential tenancy agreement, which is for use from 30 October. An addendum is also available to allow landlords and agents to continue to use existing stock of the previous version of the residential tenancy agreement.</p>
<p>You can download a copy of the Frequently asked questions on the changes to the Residential Tenancies Regulation 2010 on the Fair Trading website.</p>
<p>For more information, visit the Fair Trading website <a href="https://www.fairtrading.nsw.gov.au" target="_blank">here</a>.</p>
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jonathanchancellor-7SQnKwU6yx

Property 101: Asbestos issues trigger new NSW tenancy agreement from October 2016

<html><body>
<p>SPONSORED POST</p>
<p>Where once it was a niche investment, student accommodation has now become a global asset class.</p>
<p>According to the latest Savills World Student Housing Spotlight, 2015 was a record year for investment in student housing with US$14.9 billion invested globally in the sector.</p>
<p><strong>The Local Market - Australia</strong></p>
<p>The Australian market continues to attract significant attention and is a particularly popular destination for international students. Students from China and India together supply nearly 40 percent of international students, an increase of more than 13 percent and 15 percent respectively in 2015.</p>
<p>With Australia featuring in the list of favoured destinations in the world’s top outbound markets for international students, plus a fast-growing domestic population, student numbers have risen 37 percent in the last eight years. With 30 Australian institutions appearing in the top 750 of the QS World University Rankings, up from 25 in 2012, demand is likely to continue and, as a consequence significant new stock will be required.</p>
<p>The strong growth potential in Australia is set against a general shortage of supply; at the moment there is only enough purpose-built student accommodation (PBSA) available to accommodate 6 percent of the student population. In response, more than AU$2 billion of capital has been earmarked for development projects in student accommodation since the start of 2015.</p>
<p><strong>Around the World</strong></p>
<p>The Savills World Student Housing Spotlight has found that cross border investment in this fast maturing asset class accounted for 40 percent of all global investment activity. International investors who are seeking to diversify their portfolios have been attracted by the fact that US and UK student housing REITs have outperformed their All REIT indices by 19 and 16 percentage points respectively.</p>
<p>The first half of 2016 has seen lower total global volumes compared with 2015, but in mainland Europe investment levels have continued to rise off a low base. By the end of July, German student housing had attracted €350 million of investment – more than double the total invested in the whole of 2015 – while in France €345 million has been transacted in the year to August 2016.</p>
<p><a href="/images/2016/10/18/Major%20Student%20Housing%20Markets%20at%20a%20glance-2.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/10/18/Major%20Student%20Housing%20Markets%20at%20a%20glance-2.jpg" alt=""></p>
<p>Investors have been attracted by mainland Europe's strong investment potential. Its combined student population of 20 million, and the very low provision in some markets of purpose-built student accommodation (PBSA) despite growing demand from international students attracted by an increasing number of courses taught in English, place it on an upwards trajectory.</p>
<p><strong>A Resilient Asset Class</strong></p>
<p>Growing international student numbers are therefore set to secure the market for a premium PBSA product, but there also remains a huge untapped market for more affordable private accommodation. High land values and development costs will impede this in many markets, but upgrading of existing university stock or establishment of new models may be a route in.</p>
<p>In either case, student housing has proven itself to be a resilient asset class and, with its counter-cyclical fundamentals, many institutional investors will continue to turn to the sector where they can achieve strong occupancy and rental growth.</p>
<p>To learn more about the trends in the current student accommodation market, view <a href="https://www.savills.co.uk/research_articles/188294/207929-0" target="_blank">Savills World Student Housing Spotlight 2016</a>.</p>
<p>Savills is a leading global real estate service provider offering the full spectrum of services from strategic advice to managing assets and projects and transacting deals. To learn more about Savills student accommodation services, visit <a href="https://www.savills.com.au/services-and-sectors/student-accommodation.aspx" target="_blank">savills.com.au/studentaccommodation</a>.</p>
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The rise – and rise – of global student housing investment

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<p><img src="https://counter.theconversation.edu.au/content/65712/count.gif" alt="The Conversation" width="1" height="1"></p>
<p>GUEST OBSERVER</p>
<p>Saving energy is a win-win. You reduce greenhouse emissions and you reduce your energy bills. However, improving energy efficiency is not an option for a significant number of people in Australia – renters. </p>
<p>This is important not only because rental properties account for 29.6 percent of Australian houses, or 2.3 million homes, but because the high proportion of low-income households in rental properties are particularly vulnerable to rising energy prices.</p>
<h2>Those who can, and those who need to but can’t</h2>
<p>In Victoria, only 58 percent of private and 55 percent of public rented homes have some insulation. In contrast, 95 percent of owner-occupied homes have insulation. </p>
<p>In 2009 the Victorian government found the use of electric heaters is much higher in rental properties, and that half of all rental households report difficulty heating their homes.</p>
<p>The relationship between low incomes and higher rates of renting is a long-term trend in Australia. More than 20 percent of long-term renters regularly pay more than half of their income on rent, and 17 percent of all private renters are on government pensions or allowances. The proportion of people with a disability, a group with higher-than-average energy needs, is also much higher in rental properties.</p>
<p>As energy prices continue to rise, the gap between those who can afford to improve the energy efficiency of their property and those who cannot is growing. Those who are most vulnerable to energy price increases are the people with the least capacity to improve the energy efficiency of their home.</p>
<h2>What is getting in the way?</h2>
<p>Internationally, split incentives (when two parties engaged in a contract have different goals and levels of information) are recognised as a key barrier to improving energy efficiency in rental properties. </p>
<p>The International Energy Agency estimates that, globally each year, over 3,800 petajoules of energy (roughly 65 percent of Australia’s total energy use in 2013-14) is not saved due to split incentives.</p>
<p>In Australia, several additional legislative barriers prevent improvements to rental properties. </p>
<p>For example, landlords can offset the entire cost of any repairs made to rental properties against their income in the same financial year. But any repair has to be like-for-like.</p>
<p>So if a gas hot-water system broke down in a rental property and the landlord decided to replace it with a solar hot-water heater it would be classed as an improvement, not repair. The entire cost of improvements cannot be offset in the same financial year, which deters landlords from replacing broken appliances with more efficient versions.</p>
<p>Many state tenancy laws require tenants to return the properties to the same condition as when they rented the property. This means even willing renters are discouraged from improving properties themselves, or engaging in energy efficiency programs offered by external parties.</p>
<p>The majority of leases in Australia are for six to 12 months. In Victoria you cannot get a lease longer than five years. </p>
<p>Therefore, tenants who do have the income and permission to improve the energy efficiency of their properties cannot be sure they will live in the property long enough to pay off the initial investment through energy savings.</p>
<h2>Hope for change</h2>
<p>In our 2015 study we aimed to identify solutions for the barriers to energy efficiency in rentals. We surveyed 230 tenants and landlords and interviewed five real estate agents.</p>
<p>We found two possible solutions that received a high degree of support from all stakeholders. </p>
<p>The first solution, which received over 90 percent support from both landlords and tenants, is to change the classification of energy efficiency improvements to repairs under tax law. This would allow landlords to offset the entire cost of the improvement in the same financial year. Real estate agents were also convinced this solution would work, with no repercussions for tenants.</p>
<p>The second solution that all stakeholders supported was mandatory minimum efficiency standards for rental properties. Over 90 percent of tenants and 70 percent of landlords supported this solution. </p>
<p>However, fewer landlords strongly disagreed with a mandatory standard if it was combined with tax offsets for energy efficiency improvements. Real estate agents agreed that the combined solution could be effective.<span style="font-size: 1em; font-weight: bold;"> </span></p>
<p>Interestingly, if the mandatory minimum energy efficiency standard were enacted, it could allow landlords to claim tax offsets for energy efficiency improvements in the same financial year. This is because spending required to make a property satisfy regulatory requirements falls into the repairs classification.</p>
<p>The results of this study show that despite the different goals of landlords and tenants there are combinations of solutions that could overcome the barriers to improving the energy efficiency of rental properties. </p>
<p>If landlords and tenants can find some common ground, surely politicians across multiple levels of government can work together to find solutions for some of the most vulnerable people in our community.</p>
<p><em><span class="fn author-name">Robert Crawford is s</span>enior lecturer in Construction and Environmental Assessment, University of Melbourne and author for The Conversation. He can be contacted <a href="https://theconversation.com/profiles/robert-crawford-14921" target="_blank">here</a>.</em></p>
<p><em><span class="fn author-name">Koel Wrigley is c</span>ommunity engagement consultant, Capire Consulting Group, University of Melbourne and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/koel-wrigley-301797" target="_blank">here</a>.</em></p>
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Renters are being left out in the cold on energy savings: here’s a solution

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<p>Following his purchase of Simon Baker and Rebecca Rigg's North Bondi rooftop apartment, e-commerce entrepreneur Simon Hill has listed his redundant Paddington terrace for rent.</p>
<p>It's priced at $2,500 a week through BresicWhitney Darlinghurst agent Rebekah Doyle, with the potential to come furnished.</p>
<p>Hill bought the <a href="https://www.bresicwhitney.com.au/rent/35-hampden-street-paddington-13800" target="_blank">four bedroom home</a> in 2014 for $2.6 million, after hailing from Melbourne. He'd also looked at the penthouse when it sold in 2014 for $2.63 million.</p>
<p>This time the 29 year-old investor in e-commerce business and products, snapped up the Ben Buckler peninsula penthouse within two weeks of it hitting the market in June when it was listed with $3.5 million hopes.</p>
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Simon Hill rents out Paddo after buying from Simon Baker at Bondi

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<div>The number of residential vacancies dropped in August to give a vacancy rate of 2.3 percent, according to SQM Research.</div>
<div>
<br><span>The latest SQM research shows vacancies dropping in all capital cities, pushing up rents, especially in Sydney and Melbourne where vacancy rates are now below 2 percent.</span>
</div>
<div> </div>
<div><a href="/images/2016/09/21/Screen%20Shot%202016-09-21%20at%2011.10.04%20AM.png" target="_blank">Click to enlarge</a></div>
<div>
<img src="/images/2016/09/21/Screen%20Shot%202016-09-21%20at%2011.10.04%20AM.png" alt=""><br><br>SQM Research managing director Louis Christopher said Sydney and Melbourne recorded vacancies rates of 1.7 percent and 1.9 percent, respectively, while Hobart had the tightest rate at just 0.5 percent.</div>
<div> </div>
<div>"In contrast, Perth recorded the highest vacancy rate of 5.0 percent in August, though it fell by 0.2 percentage points from a record high of 5.2 percent in July," he said.</div>
<div>
<div><span><br>"Reflecting a high vacancy rate, Perth has recorded big falls in asking rents of 9.6 percent for houses and 11.4 percent for units over the past 12 months. </span></div>
<div><span> </span></div>
<div>
<span>"Yearly falls have also been recorded in Darwin, with asking rents down 1.5 percent for houses and 5.5 percent for units. In contrast, asking rents jumped in Canberra, up 12.1 percent for houses and 9.6 percent for units. The asking rent for a three-bedroom house in Sydney jumped 4.8 percent to $713 a week over the year to September 20 and in Melbourne, rents jumped to $486, up 3.4 percent.</span><br><br><span>"Despite a very tight vacancy rate, Hobart continues to record the most affordable rental accommodation with rents for houses at just $343 a week and units averaging $279 a week.<br><br></span>
</div>
<div><a href="/images/2016/09/21/Screen%20Shot%202016-09-21%20at%2011.10.18%20AM.png" target="_blank"><span>Click to enlarge</span></a></div>
<div><span><img src="/images/2016/09/21/Screen%20Shot%202016-09-21%20at%2011.10.18%20AM.png" alt=""></span></div>
<div><span>"Looking forward, fears of an apartment oversupply in Melbourne, if true, cannot come soon enough, as at present, having a vacancy rate trending down below 2 percent is highly suggestive that landlords are in control of the market. <br><br>"Sydney too is likely to remain a landlord's market as the city's growing population creates demand for new stock. The only area right now recording sustained increases in vacancies is the Hills District, including the Kellyville area."<br></span></div>
</div>
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Vacancy rates drop, big city rents jump: SQM

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<p><span style="font-size: 12.16px; line-height: 1.3em;">Seven of the eight Australian capitals saw an increase in median rent in August from July, with Sydney the most expensive for renters, according to data compiled by rent.com.au.</span></p>
<p><span style="font-size: 12.16px; line-height: 1.3em;">The national average median rent increased by 1.4 percent to $395 in August. Sydney, the capital of New South Wales, reported a median average weekly rent of $542. On a regional level, median rents remained healthy across the board, with no change in the median rent for apartments or houses on Rent.com.au.</span></p>
<p><span style="font-size: 12.16px; line-height: 1.3em;">The Northern Territory reported the only decrease in overall median rent, dropping 3.25 percent from July. Its capital, Darwin, reported a 3.25 percent decrease to $463, following a spike in July. </span></p>
<p><span style="font-size: 12.16px; line-height: 1.3em;">The report was based on data related to property listings on Rent.com.au in August. Apartments made up 36 per cent of all listings while houses comprised 63 per cent. The majority of dwellings were three-bedroom houses, comprising 31.5 percent of all dwellings on the site. The median price for a three-bedroom house in August was $375.</span></p>
<p><a href="/images/2016/09/09/rentals.png" target="_blank"><span style="font-size: 12.16px; line-height: 1.3em;">Click to enlarge</span></a></p>
<p><span style="font-size: 12.16px; line-height: 1.3em;"><img src="/images/2016/09/09/rentals.png" alt=""></span></p>
<p><strong style="font-size: 12.16px; line-height: 1.3em;"><span style="font-size: 12.16px; line-height: 1.3em;">State and territory breakdown </span></strong></p>
<p><strong><span style="font-size: 12.16px; line-height: 1.3em;">Sydney, NSW </span></strong></p>
<p>Sydney tenants experienced another rise in the median rent for apartments. Median apartment rents increased from $510 to $520 per week, now only $60 less than median house rents, which remained steady at $580. </p>
<p>New South Wales recorded an increase in asking rents of 1 per cent in apartments and 2 per cent in houses in August. A six-month price is also recorded for the state, with asking rents up 5.26 per cent for apartments and 1.1 per cent for houses. </p>
<p>New South Wales over indexes in apartments, with a makeup of 45 per cent in the state against the national average of 36 percent. </p>
<p><strong><span style="font-size: 12.16px; line-height: 1.3em;">Melbourne, VIC </span></strong></p>
<p>Median apartment rents in Victoria increased from $360 to $370 (a 3 percent rise), now in line with median house rents, which also increased from $360 per week. </p>
<p>Houses in Melbourne saw a 3 percent increase in price for the month of August, with median rents now $410 per week, slightly ahead of apartment median rents, up 1 percent to $385 per week. </p>
<p><strong><span style="font-size: 12.16px; line-height: 1.3em;">Brisbane, QLD </span></strong></p>
<p>Queensland median rents have steadied, remaining at $350 for apartments and $380 for houses, lining up against July’s figures. Apartment prices have seen no change since January when the median rental was $360, while the asking rent on houses has remained steady in Queensland since April ($370). </p>
<p>In Brisbane metro, apartment prices remained consistent in August at $400 per week, close to year-to-date figures that have not peaked over $405 since January this year. Houses saw a small price increase in August, rising 1 percent to $423 per week. </p>
<p><strong><span style="font-size: 12.16px; line-height: 1.3em;">Adelaide, SA </span></strong></p>
<p>South Australian house rents are at their lowest since April, with the asking median rent now $325 per week, down 2 percent from July. Similarly, median apartment prices have risen slightly, up 4 percent in August to $280 from July’s $270. </p>
<p>On a city level, Adelaide’s median rent climbed to $290 per week for apartments, an increase of 2 per cent on last month, but 3.57 percent below the state average. Houses saw a 3 percent increase in median rent, up to $360 per week. </p>
<p><strong><span style="font-size: 12.16px; line-height: 1.3em;">Perth, WA </span></strong></p>
<p>Western Australia’s median rents have steadied, remaining at $330 for apartments and $380 for houses in August. Apartment and house prices have seen no change since June when the median rental was $335 and $375 respectively. </p>
<p>Houses in Perth’s metropolitan area increased by 3 percent to $390 per week, while a smaller rise (1 percent) was recorded in the median rent for apartments, now at $345. </p>
<p>In August, WA showed the lowest number of listed apartments, making the highest concentration of houses in WA (76 percent), closely followed by SA (second highest at 75 percent). </p>
<p><strong><span style="font-size: 12.16px; line-height: 1.3em;">Hobart, TAS </span></strong></p>
<p>Tasmania’s house rental prices rose 3 percent in August, shifting the median rent from $280 in July to $288 per week. Apartment prices moved up 1 percent to $243 in August. The state continues to lay claim to Australia’s most affordable prices. </p>
<p>At city level, Hobart apartment prices dropped 17 percent to the lowest median rent per week of $278, year-to- date, down from $333 in July. House prices on a metro level also rose by 12 percent to a median rent of $393 per week. </p>
<p><strong><span style="font-size: 12.16px; line-height: 1.3em;">Canberra, ACT </span></strong></p>
<p>Over in the Australian Capital Territory, both apartments and house rents increased in August. The month saw a 1 percent change in the median price of apartments (up $10 to $400 per week) and 3 per cent in the median price of houses ($455 per week in August). </p>
<p>Canberra median rents remained steady in August, maintaining the record high for apartment prices year-to- date ($390) and $450 per week for houses. House prices reached a high in May at $470 but have since decreased. </p>
<p><strong><span style="font-size: 12.16px; line-height: 1.3em;">Darwin, NT </span></strong></p>
<p>Northern Territory tenants saw a 3 percent fall in house rents for the month of August. Territory rents hit a high $520 per week in March, but dropped to $500 last month from July’s $518. Apartments, however, remained steady at a median rent of $400. </p>
<p>The market switches slightly on a metro level. Darwin apartments recorded a 4 percent decrease in the median rent to $425 per week, returning to June prices. On a city level, house rents remained consistent at $550 per week – a level that has not dropped since June. </p>
<p>Overall, Darwin as a region recorded a combined median rent of $463, a decrease of 3.25 percent from July. </p>
<p> </p>
<p> </p>
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Rents rose in seven of eight Australian capital cities in August: rent.com.au 

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<p><span style="font-size: 12.16px; line-height: 1.3em;">City rents continue to decline as asking rents decreases by 0.5 percent over the last 12 months, according to CoreLogic.</span></p>
<p><a href="/images/2016/09/06/CoreLogic_Graphs/Screen%20Shot%202016-09-06%20at%201.25.44%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/09/06/CoreLogic_Graphs/Screen%20Shot%202016-09-06%20at%201.25.44%20PM.png" alt=""></p>
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City rents continue to decline: CoreLogic

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<p>It's a cool $3,750 a week to stay in comedian Tim Minchin's newly purchased art deco Coogee palace.</p>
<p>Currently the most expensive rental on the market in Coogee, <a href="https://www.lsdb.com.au/real-estate-for-sale-20-gordon-avenue-coogee-nsw/2950479/" target="_blank">Minchin paid $5.9 million for the five bedroom, five bathroom home</a>.</p>
<p>It had been priced at $4,000 a week when first listed last month, but it's dropped by $250 last week through leasing agent Toni Atkinson at Laing + Simmons Bondi Beach.</p>
<p>It's more than twice as expensive that the next most priciest rental in Coogee and is amongst the most expensive dozen in the eastern suburbs.</p>
<p>The Coogee median rental price for a house currently sits at $2,462,500 according to CoreLogic.</p>
<p>The expatriate - who's conquered the West End and Broadway with his music and lyrics for Matilda the Musical - is seemingly staying overseas despite being homesick.</p>
<p>His latest project is Groundhog Day, a musical comedy based on the 1993 film of the same name. There's been no spculation on just who might play XXXX's role on stage.</p>
<p>Offering sweeping views over Gordon's Bay from its blue-chip coastal enclave, the two level home was redesigned by architect Stephen Vardy.</p>
<p>The home on 563 sqm with customer-craft finishes throughout has two living areas, library, wine cellar and a swimming pool.</p>
<p>It was the home of luxury car dealer Steve Nasteski and Alisa Grey, an actor and singer, who had paid $3.1 million in 2004.</p>
<p>They're off to Bondi Beach, having secured one of the lighthouse penthouse apartment in the Pacific Bondi for $7.28 million.</p>
<p>Minchin grew up in Perth, however it is widely expected that the family are heading to Sydney's east to live closer to family. His sister, Nel and her husband Guy Patrick, an advertising art director, own at Randwick. Nel has worked in television for 10 years, most recently researching for Julia Zemiro’s Home Delivery series.</p>
<p>He won't be moving back from Hollywood in a hurry, with the property advertised as being available on a minimum six month lease. </p>
<p>Minchin does still own in Perth, having bought a top floor apartment in Bel-Air, a Cottesloe landmark.</p>
<p>He paid $850,000 for the two bedroom art deco apartment in 2012, with his social worker wife Sarah.</p>
<p>He once said the first thing he does when he lands back in Perth was go to Grant Street beach in North Cottesloe.</p>
<p>He jested he “christened” both his UK-born kids at that beach.</p>
<p>The comedian and composer is best known for his award-winning musical adaptation of Matilda. </p>
<p>It was an adaption of the Dennis Kelly's take on the Roald Dahl classic.</p>
<p>This article was first published in the Saturday Daily Telegraph. </p>
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Tim Minchin lists Coogee purchase for rent

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<p>The rental property market Perth’s north east sub-region recorded a 4.7 percent increase in leasing activity in the June 2016 quarter and the south west sub-region an increase of 0.2 percent.<br><br>Overall Perth leases for houses and units fell 5.2 percent in the June quarter. The overall median rent for houses and units combined fell $15 to $380 per week.</p>
<p>REIWA President Hayden Groves said while the central sub-region had the biggest decline in activity in the three months to June, dropping off 8.5 percent.</p>
<p><a href="/images/2016/08/18/Screen%20Shot%202016-08-18%20at%2012.45.41%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/08/18/Screen%20Shot%202016-08-18%20at%2012.45.41%20PM.png" alt=""></p>
<p>“There was a notable lift in activity in the north east sub-region, and we also saw signs of strength in the south west sub-region with activity lifting 0.2 percent,” he said.</p>
<p>"As with leasing activity, the North East and South East sub region’s median rent price held steady over the quarter with no change.</p>
<p>"Despite the rental market becoming more affordable overall for Perth tenants, there were still some suburbs throughout the metropolitan area that were benefiting investors.</p>
<p><a href="/images/2016/08/18/Screen%20Shot%202016-08-18%20at%2012.46.52%20PM.png" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/08/18/Screen%20Shot%202016-08-18%20at%2012.46.52%20PM.png" alt=""></p>
<p>“For example, 30 percent of the 124 suburbs in the Central sub-region experienced either an increase in their median rent prices or had stable rents.</p>
<p>“Average leasing days for the three months to June sits at 50 days, which isn’t surprising given that the volume of rental properties available for lease on the market pushed past 11,000 in the three months to June,” Mr Groves said. </p>
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