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

Joel Robinson

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

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

Sammut secures approval for debut Brisbane apartment development in Toowong

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

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

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

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

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

WM Residences fills gap in Mordialloc townhouse market

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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 <a href="/images/2016/05/17/VRAPRIL2016.png" target="_blank">Click to enlarge</a>
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<div><img src="/images/2016/05/17/VRAPRIL2016.png" alt=""></div>
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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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po-LsXgBTHBmX

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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mick.cee-iDmgDDAmu8

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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