Homecorp has secured approval for a $360 million apartment development at Budds Beach, paving the way for one of the Gold Coast's most amenity-rich residential projects to launch later this year.

Gold Coast City Council has approved Lýon Residences, a 32-level tower that will deliver 178 two and three-bedroom apartments across a prominent corner site at 8-10 Acacia Avenue and 25-27 Oak Avenue.

The approval comes as developers continue to invest in premium lifestyle-driven apartment projects on the Gold Coast, where owner occupiers are increasingly prioritising amenity as much as apartment size and location.

<a href="https://www.apartments.com.au/new-apartments/l-on-residences-25-27-oak-avenue-surfers-paradise-qld-4217">Lýon Residences</a> has been designed around a resort-style wellness offering, headlined by a Moroccan-inspired spa precinct featuring treatment rooms, a Nordic sauna and steam room, hot and cold plunge pools, a soaking pool and a residents-only juice bar.

The rooftop will include a heated infinity pool and spa, residents' lounge with private kitchen and bar, gymnasium, yoga and Pilates studio, outdoor entertaining areas and barbecue facilities overlooking the Surfers Paradise skyline.

<img alt="Lyon" data-entity-type="file" data-entity-uuid="2d3e29af-8793-486e-a684-52cef862241f" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-15%20at%204.32.26%E2%80%AFPM.png?VersionId=ayG2zpLf3SS6Zy8XmKDcQods4kVWb0gm" />

Homecorp Founder and CEO Ron Bakir said Budds Beach provided the ideal location for the company's latest luxury apartment project.

"Budds Beach represents one of the most unique and sought-after pockets of the Gold Coast, and Lýon Residences has been designed to reflect that sense of rarity and refinement," Bakir said.

The project arrives as wellness continues to become a defining feature of new residential developments both in Australia and internationally.

The latest Global Wellness Institute figures show wellness real estate remains the fastest-growing segment of the global wellness economy and is forecast to exceed $1.8 trillion by 2030. Australia continues to rank among the world's 15 largest wellness real estate markets, with developers increasingly integrating health, recreation and community facilities into apartment projects.

Queensland is also experiencing strong population growth, with the Gold Coast continuing to outperform many other Australian cities as demand for new housing remains elevated ahead of the 2032 Olympic and Paralympic Games.

Bakir said the project had been designed to respond to that shift in buyer expectations.

"Strong population growth and sustained demand across the Gold Coast continue to highlight the need for well-designed new housing supply. Lýon Residences responds directly to this demand while setting a new benchmark for residential living," he said.

Each apartment has been designed to maximise views across the coastline, the Nerang River and the Gold Coast hinterland.

Located just minutes from Surfers Paradise beach and the Broadwater, the development also offers easy access to the light rail network, Broadbeach and Burleigh Heads.

Early site works are underway, with construction expected to commence later this year.

Joel Robinson

Homecorp approved for Budds Beach apartment tower, Lýon Residences

New apartment developments with uninterrupted, north-facing views over Perth's Swan River are exceptionally rare.

Recognising just how limited those opportunities are, <a href="https://www.apartments.com.au/developers/edge-visionary-living">Edge Visionary Living</a>, one of Perth's most respected builder-developers, targeted <a href="https://www.apartments.com.au/developments/applecross-wa-6153">Applecross</a>, assembling an unrepeatable 6,342 sqm riverfront site on the corner of Moreau Mews and Canning Beach Road to create one of Perth's only new north-facing apartment developments directly overlooking the Swan River.

Today, <a href="https://www.apartments.com.au/buildings/riviere-residences-applecross-59-canning-beach-road-applecross-wa-6153">Rivière Residences</a> offers buyers a unique opportunity to choose between completed residences ready to move into now and off-the-plan homes in the final stage, Rivière West.

[smartcode_project:default project_id=28384 project_image_fid=3823]

Across the completed East and Central buildings, residents are already enjoying the development's luxury amenity, while two of the precinct's hospitality venues are now open.

The completed component of the development gives buyers the advantage of experiencing the finished product firsthand, including its uninterrupted river views, while still having the opportunity to secure a residence in the final stage.

"People are wowed by the view and the quality of the apartments,"&nbsp;Edge Visionary Living Sales Executive, Holly McSweeney, says.

"They're looking for the convenience of lock-and-leave living, but they're not looking to downsize on quality."

[smartcode_project:default project_id=28384 project_image_fid=3826]

The rarity of the development hasn't been lost on prospective buyers, McSweeney says.

For McSweeney, it all comes back to a location that is becoming increasingly difficult to replicate.

"Location, location, location," she says. "We are nestled right on the front of the Swan River. You can never get built out, so wherever you are in Rivière Residences, you've got views of the river forever."

The unique waterfront position has resonated particularly strongly with local downsizers. McSweeney says many buyers are long-time Applecross residents looking to transition from large family homes into a luxury apartment without sacrificing space, quality or the lifestyle they've enjoyed for decades.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/N_FowNW0wu8?si=vb25XFq1wZ-iufAW" title="YouTube video player" width="560"></iframe>

A major focus for Edge in recent years has been resident amenity. Across its apartment portfolio, from beachfront developments in Scarborough to luxury towers in South Perth, the developer has increasingly invested in the spaces beyond the apartment itself.

The strategy has largely been shaped by downsizer demand. Many buyers are moving from large family homes with swimming pools and established gardens. While they're looking to leave the maintenance behind, they don't want to compromise on lifestyle.

At Rivière, <a href="https://www.apartments.com.au/architects/hillam-architects">Hillam Architects</a> designed the resident facilities as an extension of each apartment. A 25-metre heated swimming pool takes advantage of the north-facing river outlook, complemented by a large gym, sauna and steam rooms, private dining spaces, residents' lounges, a cinema, games room, and dedicated wine and whisky rooms.

[smartcode_project:default project_id=28384 project_image_fid=372542]

The waterfront location has also proved to be a major drawcard. Residents are within walking distance of the Raffles Hotel, South of Perth Yacht Club, the Heathcote Cultural Precinct and the cafés, restaurants and boutiques along Ardross Street.

Beyond the location and amenity, McSweeney says many buyers take confidence from Edge's fully integrated development model.

Having delivered apartments across Perth for decades, Edge now designs, develops and constructs its projects in-house, giving the company greater control over quality, delivery and the finished product.

"What I love is when people walk through their apartment for the first time and say, 'This is better than what we imagined,'" McSweeney says. "We hear that all the time."

Completed apartments in the East and Central buildings are now available to inspect by appointment, while Rivière West, the final stage of the precinct, is expected to be completed in the first quarter of 2027.

[smartcode_project_cta:default project_id=28384]

North-facing Swan River views drive demand at Rivière Residences in Applecross

Nearly 60 per cent of apartments at McNab Group's $220 million The Tannery development in Brisbane's West End have sold ahead of the project's public launch, including a suburb-record $2.57 million sale for a two-bedroom apartment.

The early sales campaign has secured buyers for 50 of the project's 87 apartments, highlighting continued demand for larger owner-occupier apartments that combine generous floorplans with premium lifestyle amenities in one of Brisbane's most tightly held inner-city suburbs.

[smartcode_project:default project_id=143337 project_image_fid=374768]

McNab Group Executive Chairman Michael McNab said selling more than half the project before launch reflected changing buyer expectations.

"Selling more than half the project before public sales open tells us buyers are actively seeking apartments that offer something genuinely different," McNab said.

"Today's buyers are looking beyond four walls. They want homes that genuinely enhance the way they live, with spaces that support health, connection and everyday wellbeing."

[smartcode_project:default project_id=143337 project_image_fid=374767]

A key point of difference for the project is the adaptive reuse of the heritage-listed Dixon's Tannery building, which will become The Retreat, a residents-only wellness precinct rather than being redeveloped into additional apartments.

The Retreat will feature a sauna and steam room, hot and cold plunge pools, a commercial-grade gym, Pilates studio, cinema, library, co-working spaces and private dining room. Rooftop amenities will include a swimming pool, landscaped gardens, outdoor entertaining areas and dog-friendly spaces.

[smartcode_project:default project_id=143337 project_image_fid=374760]

Designed by Cottee Parker Architects with interiors by Tom Mark Henry and landscape architecture by Aspect Studios, The Tannery comprises 87 two, three and four-bedroom apartments across 11 levels overlooking the Brisbane River.

Cottee Parker principal Dee Passenger said preserving the original tannery building had been central to the project's design.

"The easy option would have been to maximise the site's development potential with additional apartments. Instead, McNab has chosen to preserve the original tannery as a shared wellness retreat, ensuring this important piece of Brisbane's history remains at the heart of the community."

Passenger said sustainability also played a key role in the design, with materials from the original industrial site salvaged and repurposed throughout the development.

[smartcode_project:default project_id=143337 project_image_fid=374761]

Motiv CEO Carly Cottam said buyers had responded strongly to the combination of larger apartments, wellness facilities and the West End lifestyle.

"We are seeing more buyers looking for homes in the sky that provide the space and functionality of a traditional home, while benefiting from the convenience and lifestyle that apartment living brings," Cottam said.

She said purchasers included both owner occupiers and investors, with demand coming from local buyers as well as interstate purchasers.

Coinciding with the public launch, McNab also announced a partnership with Queensland Ballet, whose neighbouring Thomas Dixon Centre shares historical ties with the original Dixon family.

Located on a 4,465 sqm site at 439 Montague Road, The Tannery overlooks the Brisbane River and is around 10 minutes from the CBD.

Construction is underway, with completion expected in the second half of 2027.

[smartcode_project_cta:default project_id=143337]

More than half of residences sold before public sales as McNab announces significant partnership with Queensland Ballet

McNab's The Tannery nears 60 per cent sold before public release, sets two-bedroom West End record

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.

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

Rental market

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The Investar website has identified the cheapest Victorian towns for rents.
Rank Suburb State Postcode Dwelling Type Bedrooms Weekly Median Rent
1 STAWELL VIC 3380 Unit Studio &amp; 1 $115
2 MOE VIC 3825 Unit Studio &amp; 1 $120
3 NEWBOROUGH VIC 3825 Unit Studio &amp; 1 $120
4 MORWELL VIC 3840 Unit Studio &amp; 1 $130
5 HAMILTON VIC 3300 Unit Studio &amp; 1 $130
6 SWAN HILL VIC 3585 Unit Studio &amp; 1 $135
7 PORTLAND VIC 3305 Unit Studio &amp; 1 $145
8 ECHUCA VIC 3564 Unit Studio &amp; 1 $145
9 BENALLA VIC 3672 Unit Studio &amp; 1 $150
10 MOOROOPNA VIC 3629 Unit Studio &amp; 1 $150 
 
{mijopolls 140} 
 
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jonathanchancellor-7SQnKwU6yx

Stawell leads Victoria's 10 cheapest rental towns: property investor poll

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<div>Residential vacancies nationwide rose during April to come in at 2.5 percent - slightly above annual season trends according to SQM Research.</div>
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Perth vacancies increased 0.5 percent during April, Canberra up 0.3 percent month on month and vacancies stabilised in Hobart at 0.9 percent.
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<div>
The vacancy rate for Perth is now at a record high according to SQM, who said it suggests t the housing downturn in Perth has yet to bottom out and that rents have further to fall.
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Darwin had an 8.4 percent fall for house asking rents and 12.5 percent for units over the year. House rents in Perth are down 8.4 percent and units 9.3 percent.
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<div>According to SQM, Hobart is the most affordable with rents for houses at just $350 a week and Adelaide the most affordable for unit rental, averaging $285 a week.</div>
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Residential vacancies nationwide rise in April: SQM Research

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<img src="https://counter.theconversation.edu.au/content/57114/count.gif" alt="The Conversation" width="1" height="1">
GUEST OBSERVER
Average house rents in metropolitan Melbourne have increased by 5.3 percent, with apartment rents growing by 2.8 percent, over the last three months.
A lack of affordable rental properties is a problem in Sydney too. This has fuelled speculation of a housing bubble, particularly in the wake of falling investor demand for new high-priced CBD apartments in these capital cities and others.
But beyond the headlines lies a difficult policy task for all three levels of government, in conjunction with the private sector and civil society. They need not only to create more affordable housing, but to keep it affordable in the long run.
Recent discussions with private developers and investors suggest there is growing willingness to collectively tackle the problem. However, some common misapprehensions remain about who needs affordable housing and how those needs might be met.
Looking beyond the stereotypes
There continues to be two quite different stereotypes about the people who need affordable housing:
<ul>
<li>First, there is the older single man with mental health and/or addiction issues, who may need therapeutic assistance and housing.</li>
<li>Second, there is the “key worker” individual or couple – young, working in education, medicine or emergency services – who just simply need “more supply”.</li>
</ul>
The reality is that there are many different kinds of households requiring affordable housing. Many different mechanisms will need to come into play to meet their needs.
Penny the pensioner is living in poverty, like one in three older women. She spent many years bringing up two children full-time and did not accumulate retirement savings or assets. As a very-low-income person, she receives Commonwealth Rent Assistance. However, she is among the 35,000 Victorians on the waiting list for public housing.
Penny can no longer afford to live in or near Port Melbourne, her home for her entire life. This is because there are simply no rental apartments available there for A$165 per week, which is what she could afford.
Penny wonders if Australia’s largest urban redevelopment project next to Port Melbourne, Fishermans Bend, could have an apartment for her sometime soon. But with no new Commonwealth affordable housing program in place, no inclusionary zoning or financial incentives at the state level, and rate capping at the local government level reducing capacity to invest in affordable housing, at most 1.3% of the total 40,000 projected housing units will be available to middle-income households – let alone low-income people like her.
Even if new units were developed in Fishermans Bend, a 50m² apartment would cost about $300,000 to build, given land, construction and financing costs. Rates, water, maintenance and management would cost about $9,000 a year per unit to deliver.
These costs could not be recovered fully through Penny’s rent, even if construction was completely subsidised. There would need to be a combination of lower-cost land, subsidised construction, guaranteed finance, rate relief and ongoing subsidy to make her living unit viable for the private sector to deliver and a community housing provider to own and manage.
Naresh is a nurse. He would be classified as a moderate-income earner. He lives with his wife Nadira. They recently had a child; Nadira is a full-time parent.
Because he is a shift worker, Naresh’s public transport options are not reliable. He would prefer to live within walking or cycling distance of his workplace, even in a smaller unit, as he does not own a car.
Naresh can afford to pay 30% of his $60,000 annual gross income on rent, which works out to $340 per week. This is still below the average rent in Melbourne for a 70m² two-bedroom unit.
A few two-bedroom apartments are available for that price – about an hour’s public transport ride away from his job. However, he works in a well-serviced but conservative inner suburb, where new apartments aren’t being constructed and existing flats are rented by much-higher-income households.
Naresh would have to add the cost of buying and maintaining a car to his rental cost and a long commute to an already difficult work-life balance. This is hardly affordable or family-friendly living.
Even if new apartments were being constructed where they are most needed, it would cost at least $400,000 to build and require about 50% construction subsidy for a community housing provider to be able to rent to Naresh and Nadira. The alternative would be short-term renting in the private market with the likelihood of having to relocate every year or two.
Signs of progress
Across Australia, there was a shortage of 122,000 affordable and available dwellings nationwide in 2011. This was a 40 percent increase from 87,000 in 2006. The problem has worsened since the last census in 2011.
There are some signs of progress across Australia. After a cross-party Senate inquiry into affordable housing in 2015, the Affordable Housing Working Group is looking at “innovative financial models” to scale up production.
Several states are taking concrete actions. Western Australia was the first cab off the rank and had attained its ten-year targets by 2015. New South Wales has established the Social and Affordable Housing Fund. Queensland’s Affordable Housing Strategy is at the discussion stage.
In Victoria, the previous Coalition government’s strategic plan for metropolitan Melbourne is being “refreshed”, including a greater emphasis on housing need. In advance of a promised affordable housing strategy, the current Labor government recently announced a $150 million “housing blitz” for women and child survivors of family violence.
Several local governments in Melbourne have also led the way in donating land to affordable housing, particularly the City of Port Phillip.
The trick is going to be combining various actions by Commonwealth, state and local government to support private developers and community housing providers in not only developing new housing, but keeping it affordable for hundreds of thousands of Australians.
 
Carolyn Whitzman is professor of Urban Planning, University of Melbourne and author for The Conversation. She can be contacted <a href="https://theconversation.com/profiles/carolyn-whitzman-9944" target="_blank">here</a>.
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jchancellor-FAypfDUnLy

Where do record rental prices leave low-income earners?

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Combined capital city weekly rents increased 0.1 percent in April but fell by 0.2 percent over the 12 months to April, according to CoreLogic RP Data. 
Rents in Sydney increased 1.4 percent, Melbourne 1.7 percent, Adelaide 0.5 percent, Hobart 1.1 percent and Canberra 2.5 percent however large falls in Perth and Darwin, 8.9 percent and 12.6 percent respectively pulled down the combined capital figure.
CoreLogic RP Data's April Rental Index said rental rates across the combined capital cities are recorded at $486 per week and they are 0.2 percent lower than they were a year ago.
<a href="/images/2016/05/12/Screen%20Shot%202016-05-12%20at%201.13.00%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/05/12/Screen%20Shot%202016-05-12%20at%201.13.00%20PM.png" alt="">
"CoreLogic have been tracking annual rental changes since 1996, with the annual change in capital city rents now tracking at the lowest level on record. 
"At the same time last year rental rates had increased by 1.7 percent which indicates that the slowdown in rental growth has been sharp over the past year. Factors contributing to the slowdown in rental growth include falling real wages, excess rental supply in certain areas and lower rates of population growth which have impacted on demand for rental accommodation. 
"With dwelling approvals having peaked at record highs and construction activity set to peak over the next 24 months accompanied by many new properties still to settle, it is anticipated that the weak rental market conditions will persist with rental growth continuing to slow and/or fall in most capital cities. Landlords will continue to have little to no scope to lift rental rates and may actually need to reduce rents in order to keep their tenants. Renters hold a stronger negotiation position and have the potential to upgrade into a higher grade of accommodation for a similar or potentially lower rental cost."
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Weekly rents continue to fall: CoreLogic RP Data

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The Tenancy Unit within Consumer Affairs provides services to tenants and landlords/agent of residential properties in the Northern Territory. 
The legislative responsibilities of tenants and landlords are outlined in the Residential Tenancies Act.
The landlord/tenant relationship is usually harmonious but difficulties do arise, and sometimes landlords and tenants have different ideas of their respective rights and responsibilities.
Tenancy - Water Charges
Landlords are allowed to pass on the full cost of water consumption provided:
•          the rental premises are individually metered, and
•          the tenancy agreement states the tenant must pay for water consumption.
However, a landlord cannot ask a tenant to pay for charges, levies, rates or taxes, other than a charge payable by the owner or occupier of the premises for electricity, gas or water supplied to the premises.
Applications
From 1 June 2015, applications in relation to the Residential Tenancies Act  are heard by the Northern Territory Civil and Administrative Tribunal (NTCAT).  Applications are required to be lodged on a NTCAT form.
This form, as well as advice on NTCAT procedures and processes, can be found on the NTCAT website: <a href="https://www.ntcat.nt.gov.au/" target="_blank">www.ntcat.nt.gov.au</a>
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NT residential tenancy laws

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The Investar website has identified the fastest rental growth suburbs across Sydney.
Annual rental increases of 20 percent have occurred at Bondi Beach, in the premium three bedroom market.
Rank Suburb State Postcode Dwelling Type Bedrooms Median Rent 1 Year Change
1 BONDI BEACH NSW 2026 Unit 3 $1200 20.00 percent
2 MEADOWBANK NSW 2114 Unit Studio &amp; 1 $450 18.42 percent
3 ROZELLE NSW 2039 Unit Studio &amp; 1 $585 18.18 percent
4 ROZELLE NSW 2039 Unit 2 $820 15.49 percent
5 LANE COVE NSW 2066 Unit 3 $750 15.38 percent
6 NEUTRAL BAY NSW 2089 Unit 3 $975 14.70 percent
7 KINGSFORD NSW 2032 Unit 3 $800 14.28 percent
8 LANE COVE NSW 2066 Unit 2 $570 14.00 percent
9 MOSMAN NSW 2088 House 4 $2050 13.88 percent
10 MOSMAN NSW 2088 House 3 $1300 13.04 percent
11 MOSS VALE NSW 2577 House 3 $400 12.67 percent
12 CAMPSIE NSW 2194 Unit Studio &amp; 1 $360 12.50 percent
13 ROZELLE NSW 2039 House 3 $900 12.50 percent
14 ROSEVILLE NSW 2069 Unit 2 $630 12.50 percent
15 PADDINGTON NSW 2021 Unit 2 $730 12.30 percent
 
{mijopolls 136}
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Bondi Beach tops Sydney's 15 fastest rental growth suburbs: property investor poll

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Rental property technology company Property Connect Holdings Limited (ASX:PCH) said it has signed a letter of intent (LOI) with Hunt Companies Inc., the largest owner of multifamily apartments in the US.
Under the LOI, Hunt Companies and its affiliates, which owns a portfolio of approximately 244,000 multifamily apartments, will complete leasing transactions for its premium apartments using Property Connect’s LiveOffer™ technology. The product allows potential tenants to make offers on a rental property and thus aims to provide a fair market value.
Texas-based Hunt Companies is privately owned and is a full-service developer, investor, financier and property manager of affordable and market rate multifamily properties across the US.
As an early adopter of LiveOffer™ v2, Hunt Companies has got a 25 percent discount for the first 12 months.
“As one of the dominant players in the multifamily sector it is a coup for us to sign Hunt Companies in the lead-up to our release of LiveOffer version two," Property Connect CEO Tim Manson said.
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prateek24-ezbwHMbNAk

US multifamily property owner Hunt Companies agrees to use Property Connect leasing tech product

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Friday last week encapsulated all that’s wrong in the reporting of real estate in Australia. “Rental prices continue to soar” screamed one headline, while “Rental prices in Australia are going backwards” shouted another. 
How did different media outlets come to such different conclusions? One published the press release on The Domain Rental Report and the other published the handout from the CoreLogic Rental Index. 
As is so often the case, the statistics from one research source are different from those on the same subject from a competing source. Newspapers and other forms of media report each in isolation, often running the press release pretty much verbatim, without applying any journalistic oversight. 
No one looks at the material on the one subject from all sources and analyses it to make some sense of it for readers. 
Sometimes the numbers from two different sources aren’t that different. It’s just that one research entity will choose to place a negative slant on the figures and media will go with that, while another researcher will emphasise the positive.
The lack of genuine journalism on these matters is quite alarming. The content and tone of the press release is re-cycled to the public as news.
The result is confusion and misinformation, the curse of real estate consumers trying to figure out what’s really going on and make good decisions on investment.
So what can we make of the national rental data published by two major sources on the same day recently?
The reality is that they’re not actually so different. One chose to take a negative stance and the other decided to paint a brighter picture.
Here’s where Domain agrees with CoreLogic:
<ul>
<li>Both see rents going seriously backwards in Darwin. The annual decline in rents is in double digits, according to both sources.</li>
<li>Rents in Perth are still falling, though not as much as in Darwin, according to both.</li>
<li>Both sources see only moderate growth in rents in Sydney.</li>
<li>Both sources see minor growth in Melbourne, around 2-3 percent in annual terms.</li>
</ul>
And here’s where they don’t agree.
<ul>
<li>Domain records 2-3 percent growth in Brisbane, but CoreLogic reports a marginal fall.</li>
<li>Domain sees minor growth in Adelaide, but CoreLogic has rents down 1 percent annually.</li>
<li>CoreLogic reports essentially no change in Hobart, but Domain reports a 6 percent annual rise in house rents and a 2 percent rise in apartment rents.</li>
<li>CoreLogic records a 1.2 percent rise in its Canberra Rental Index but Domain sees bigger increases in rents in the capital.</li>
</ul>
It basically comes down to this: while there are a number of similarities, Domain’s figures overall are more positive than CoreLogic’s and it chose to take an optimistic outlet.
“Rents in most capital cities continue to rise, with falling vacancy rates indicating an ongoing shortage of rental properties,” said Domain chief economist Andrew Wilson.
“Despite the recent influx of home building, we can expect to see upward pressure on both houses and unit rents in most capital cities continuing in the foreseeable future.” 
But the CoreLogic analysis said the “annual capital city rental change is in decline and is now the lowest since 1996”.
My take on all this, having observed the quarterly rental data coming from all the usual suspects over the past 2-3 years, is that capital city rental growth has been consistently low over that period. While there are occasional exceptions, the capital cities have failed to deliver strong growth in rentals for years – and, in the case of Perth and Darwin, rents have dropped substantially.
Domain has chosen to be upbeat on its latest figures, but really they show very little in the way of strong, meaningful growth in rents.
It provides further evidence that the “housing shortage crisis” consistently claimed by the developer lobby is another of real estate’s enduring myths.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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terryryder-YECXbqmri2

Housing shortage crisis an enduring myth: Terry Ryder

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Unit rents increased at record levels over the March quarter for the majority of capital cities despite a national apartment building boom, according to the March Quarter Rental Report from Domain.com.au.
The report found unit rents increased in Sydney, Melbourne, Brisbane, Hobart and Canberra over the March quarter, staying at record levels despite the recent unit building boom, while house rental vacancies remain low in most capitals.
Capital city vacancy rates were steady at 2.1 percent for houses but fell slightly for units to 2.3 percent, with overall dwelling vacancies remaining at 2.2 percent.
<a href="/images/2016/04/7/Screen%20Shot%202016-04-07%20at%2011.21.30%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/7/Screen%20Shot%202016-04-07%20at%2011.21.30%20AM.png" alt="">
Domain.com.au senior economist Dr. Andrew Wilson said despite the recent influx of home building, we can expect to see upward pressure on both house and unit rents in most capital cities continuing in the foreseeable future.
"The clear exceptions to tight capital city rental markets are Perth and Darwin. Rents in these cities continue to fall reflecting the impact of the downturn in the resource economy and the end of the significant rental demand driven by a fly-in fly-out workforce," he said.
"Sydney median unit rents increasing sharply over the March quarter.
“Despite the significant numbers of new apartments entering the market, Sydney unit rents bounced back this quarter with a sharp 4 per cent increase in the median weekly rental. This increase offers no relief for tenants with house rents remaining at record highs and already low vacancy rates continuing to tighten. The median unit rent was recorded at $520 per week, closing in on the $530 median weekly rent for houses. Sydney unit rents have now increased by 4 percent over the past year – second to Melbourne for annual growth. 
The report found Melbourne house rents came in at $400 per week, up 2.6 percent over the year and unit vacancy rates falling despite the recent surge in new supply.
"It has been a positive quarter for investors in Melbourne with unit rents now rising to record levels and vacancy rates falling, despite an unprecedented new apartment boom. Melbourne house rents remain at peak values as well, with low vacancy rates indicating no relief in sight for tenants," he said.
“Brisbane tenants in units and houses have experienced rising rents, with both at record highs. Vacancy rates do remain reasonably balanced, however, with some slight tightening for units in the March quarter."
Gross rental yields for investors held over the March quarter, with Hobart having highest gross returns for houses at 5.6 percent and rising. Sydney had 3.3 per cent.
<a href="/images/2016/04/7/Screen%20Shot%202016-04-07%20at%2011.21.45%20AM.png" target="_blank" style="line-height: 1.3em;">Click to enlarge</a>
<img src="/images/2016/04/7/Screen%20Shot%202016-04-07%20at%2011.21.45%20AM.png" alt="">
 
 
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Rents continue to rise despite national building boom: Domain

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Perth tenants looking for affordable rentals should look to suburbs like Wembley, Armadale and Kelmscott which topped reiwa.com’s list of the most affordable suburbs to rent in for the three months to February 2016. 
REIWA President Hayden Groves said the latest reiwa.com data showed that there were numerous suburbs within the metropolitan area where Perth tenants could rent a house or unit for less than the city’s overall median price of $400 per week. 
“Unlike the eastern states where rental affordability remains an issue, housing affordability in Perth’s rental market has improved considerably over the last 18 months,” Mr Groves said. 
Of the six suburbs that made reiwa.com’s list of most affordable rental suburbs, Wembley was the only suburb with an upper quartile rent price that exceeded Perth’s overall median. 
“This tells us that improved affordability in Perth’s rental market has occurred across all price ranges and that tenants have a good opportunity to upgrade.  
<a href="/images/2016/04/6/Screen%20Shot%202016-04-06%20at%2011.37.13%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2016/04/6/Screen%20Shot%202016-04-06%20at%2011.37.13%20AM.png" alt="">
 
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