Melbourne developer Spacious Group has completed Voyage Altona, one of the closest new apartment developments to Altona Beach.

Off the plan purchasers have started moving into the 49-apartment project on Pier Street, with the remaining move-in-ready one-, two- and three-bedroom apartments starting from just over $500,000.

Display apartments have now been fitted out, allowing prospective buyers to inspect the completed residences by appointment.

[smartcode_project:default project_id=112195 project_image_fid=372638]

The completed apartments feature open-plan living and dining areas which extend onto private balconies and terraces, while full-height glazing maximises natural light throughout the interiors.&nbsp;

Hybrid timber-look flooring, stone benchtops, Miele appliances, porcelain-tiled bathrooms and generous storage feature throughout the building which also features landscaped communal areas, expansive shared terraces, lift access and secure on-grade parking.

Drawing inspiration from its bayside setting, Voyage adopts a restrained palette of warm neutral tones and textured finishes. Many of the apartments take advantage of views across Port Phillip Bay, while the indoor-outdoor living spaces have been designed to make the most of the coastal outlook.

[smartcode_project:default project_id=112195 project_image_fid=3286]

Voyage was developed to address what Spacious Group identified as an undersupply of higher-quality apartment product in Altona, with a focus on owner-occupiers looking to remain within the bayside community.

"Voyage responds to very strong local buyer demand for quality, owner-occupier-focused product," says Barry Plant Projects Director Jarrod Farey, who has handled sales since the project's launch.

"The project delivers an elevated lifestyle proposition, with its design and quality of finish far exceeding anything previously produced in the area, as well as its proximity to Pier Street Village and the beach."

The majority of purchasers have been local downsizers and owner-occupiers looking to stay within the Altona community but who previously had limited opportunities to buy a brand-new apartment.

[smartcode_project_cta:default project_id=112195]

Joel Robinson

Spacious Group completes Voyage Altona in Altona's beachside precinct

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.

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.

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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

Rental market

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Melton West - and the 3337 postcode - was identified as one of the most affordable rental suburbs closest to Melbourne's central business district, according to Australia's first rental affordability index.
The index is a joint project between peak housing advocate National Shelter, Community Sector Banking and SGS Economics &amp; Planning.
Property Observer went looking for houses and apartments in Melbourne's Melton West to find a suitable range. These are the ones we came up with:
 1. A four-bedroom house on <a href="https://www.realestateview.com.au/rental-properties/19-lomandra-bowl-melton-west/Property-Details-rent-residential-9789526">19 Lomandra Bowl, MELTON WEST 3337</a> (above) is available for $370 a week. This one topped the rentals for houses. 
2. A three-bedroom house on <a href="https://www.realestateview.com.au/rental-properties/4-red-oak-street-melton-west/Property-Details-rent-residential-9784033">4 Red Oak Street, MELTON WEST 3337</a> (below) is available for $280 a week.
<img src="/images/2015/11/26/4-Red-Oak-Street-Melton-West-VIC-3337-Real-Estate-photo-1-large-9784033.jpg" alt="" width="469" height="352">
3. A two-bedroom unit on <a href="https://www.realestateview.com.au/rental-properties/2-7-fishburn-grove-melton-west/Property-Details-rent-residential-9787782" target="_blank">2/7 Fishburn Grove, MELTON WEST 3337</a> (below) is out for rent for $255 a week.
<img src="/images/2015/11/26/2-7-Fishburn-Grove-Melton-West-VIC-3337-Real-Estate-photo-1-large-9787782.jpg" alt="" width="500" height="333" style="font-size: 12.16px; line-height: 1.3em;">
4. A two-bedroom unit at <a href="https://www.realestateview.com.au/rental-properties/25u-scott-street-melton/Property-Details-rent-residential-9789004" target="_blank">25U Scott Street, MELTON 3337</a> (below) is available for $220 a week and was the cheapest. 
<img src="/images/2015/11/26/700_scott.jpg" alt="" width="540" height="328">
The median house rental for Melton West is $280 per week with a median gross yield of 4.7%, according to data on <a href="/news">www.propertyvalue.com.au</a>.
Its median gross yield is higher than the national average of 4.24%.
For units, the median rent is $260 per week, while the gross yield is 5.7%, also higher than the national average of 4.63%, the data shows. 
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j.ballantyne1990-6AQqhLzZaK

Melton West rental affordability: What landlords are asking from tenants

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SQM Research released its latest vacancies and asking rents figures up to October 2015, which showed vacancy rates steady across much of the east coast but rising in the resources capitals.    Reported vacancy rates were steady in Brisbane (2.6%) and Adelaide (1.9%), while Canberra (2.1%) saw a slight decline.   The vacancy rate in Sydney declined to 1.6%, which has been reflected in moderately rising asking rents for houses (+1.9%) and units (+3.1%) over the year, although the rents figures may mask divergent trends at the sub-regional level.   While both Melbourne (2.4%) and Hobart (1.1%) saw vacancy rates ticking up in October, over the past year both have recorded declines, and as such asking rents have been rising solidly in these cities too. 
Click to enlarge
<img src="/images/2015/11/18/Screen%20Shot%202015-11-19%20at%2010.43.38%20AM.png" alt="">
Resources woes
On the other hand vacancy rates rose further still in Perth (3.8%) and Darwin (3.5%).
Asking rents for houses in Darwin have tanked by more than 20% over the past year according to SQM, with Darwin set for a significant price correction.
Asking rents are down for houses in Perth too (-6.4%), albeit by a less dramatic margin.
Perth has reportedly seen the price of premium property fall sharply this year, although prices at the bottom end of the market have not shifted too much to date.
Perth will become an attractive buyers' market again in time, but most data - including the iron ore price which was walloped by another 4.5% overnight to be down by a stonking 76% since 2011 and 36% this calendar year alone - suggests that this time is not yet upon us!
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>. 
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>.
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pwargent-M4siyDbqQY

Vacancy rates a mixed bag: Pete Wargent

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The level of residential vacancies rose nationally in October with a 2.3% increase over the month to 70, 827 according to SQM Research.
But Canberra and Sydney notched up monthly falls.
SQM Research managing director Louis Christopher said vacancies have been soaring in Perth and Darwin, while east coast capital cities have been stable.
<a href="/images/2015/11/16/Screen%20Shot%202015-11-17%20at%209.32.57%20AM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/11/16/Screen%20Shot%202015-11-17%20at%209.32.57%20AM.png" alt="">
“There is a sharp contrast in the national rental market at this point in time," he said.
"Vacancies have been soaring in Perth and Darwin, while our east coast capital cities have generally been stable. This is just one indicator on how the mining downturn has effected the economy.
"Clearly, not everywhere has been effected, but those cities and townships that do have exposure have been hit hard.”
SQM Research reported vacancy rates stayed the same for Adelaide and Brisbane over the month, year-on-year vacancy rates dropped in both Melbourne and Hobart and Sydney vacancy rates remain unchanged over the last year, with figures from October 2015 recording a vacancy rate of 1.6%.
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Sydney's October vacancy rate at low 1.6%: SQM Research

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Rents are lower in October in four of the eight capital cities, according to CoreLogic RP Data, who state combined capital city rents were down by 0.1% over the month.
CoreLogic RP Data's October Rent Review said the annual rate of change increased slightly from 0.5% in September to 0.6% in October, with research analyst Cameron Kusher adding all data points to an ongoing softening of rental growth, particularly throughout this year.
"With just two months remaining to year’s end, it seems that rental growth will be very soft over 2015,” he said.
“The construction boom across the capital cities, coupled with slowing population growth, low mortgage rates and the recent heightened level of activity from investors are the major contributing factors to the slowing rental growth. 
“Sydney, Melbourne and Brisbane continued to record rental rises over the past year however, each city is seeing a slowing in the pace of rental growth relative to 12 months ago. Clearly, the increase in investment stock is providing landlords with little scope to lift rental rates while the low mortgage rate environment provides little incentive to push yields higher."
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Rental rates show little sign of increasing: CoreLogic RP Data

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<div>Delving into the detail behind the Consumer Price Index figures for the third quarter reveals that annual rental price growth in Australia is now tracking at its lowest level since June 1995, with rents up nationally by just +1.5% over the year to September 2015.</div>
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<div>The data series captured at the capital city level shows the cylical nature of property prices and rents.</div>
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<div>The national level figures show the marked contrast beteween rental price inflation in periods when investors and housing starts were knocked out of the market (1985-1987) and those where investors have flooded the market with rentals and construction has boomed (2012-date).</div>
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Naturally significant variances are evident across the capital cities. <div>Annual rental growth remained steady in Sydney (+2.5 per cent), but was softer in Melbourne (+2.2 per cent) and Brisbane (+1.1 per cent), while Perth has now slipped into negative territory on this series (-1.6 per cent) after a big run-up through the resources boom. </div>
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<div><a href="/images/2015/10/30/Rents4.jpg" target="_blank">Click to enlarge</a></div>
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<div>Looking at the annualised data reveals the softening trend, particularly in Perth.</div>
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<div><a href="/images/2015/10/30/Rents2.jpg" target="_blank">Click to enlarge</a></div>
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In the smaller capital cities, Hobart appears likely to play host to a level of rental growth over the year ahead with vacancy rates in the Tasmanian capital having tightened sharply. On the other hand Darwin has the opposite problem and has now sunk into negative territory, joining Canberra where annual rents have been negative since the first quarter of calendar year 2014.
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<div>Finally, a look at rental growth across 5 and 10 year time periods by capital city shows how the resources capitals enjoyed the bulk of rental growth until the end of the resources boom.</div>
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<div><a href="/images/2015/10/30/Rents5.jpg" target="_blank">Click to enlarge</a></div>
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<div>
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>. 
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>.
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Rental inflation soft: Pete Wargent

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Owning a home in Australia has become more affordable since 2011, while renting has become more expensive, a recent report reveals, making a case for young people to consider buying a home rather than renting to boost their wealth, says Amanda Watt, the head of banking business act.
act. is a newly established banking service that redirects profits back into social projects.
Watts noted home owners with a mortgage paid an average of $453 per week on housing costs in 2013-14. In real terms, this was largely unchanged from 2011–12, according to the Australian Bureau of Statistics’s (ABS) Housing Occupancy and Costs 2013-14 report released recently. Combined with rising incomes, in real terms, or after inflation, buying a house has become more affordable.
The ABS said an increase in average household incomes has seen owners with a mortgage spending 16% of their income on housing costs in 2013-14, down from 18% in 2011-12. 
In contrast, households renting from private landlords paid an average of $376 per week in 2013-14, a rise of $12 from the 2011–12 average in real terms, the report said.
Lower income households renting from a private landlord paid on average $313 per week, which represented 34% of their gross weekly income. In comparison, lower income households with a mortgage paid $326 a week on average, or 27% of their gross weekly income, on housing costs. With interest rates at historically low levels, home ownership and paying off home loans has become more affordable when combined with an increase in income levels, act.’s Amanda Watt said. In addition, low unemployment would support young home buyers taking out a mortgage.
But home buyers needed a strategy to position themselves for a purchase.
“Save a bigger deposit. Time is money, so the more you borrow, the more you will repay in interest. If you are saving for your first home, start making the sacrifices now and save as much as you can before you buy. Claim the first home owner's grant and any other subsidies your state government offers," she said. 
“Once you get a loan, use an offset account. Offset accounts are a great way to cut interest costs. Offset accounts link your home loan to a savings or transaction account. The balance in the savings account is then used to offset the home loan balance, reducing interest costs. There are tax benefits also as tax isn’t paid on the interest credited to your savings account because the interest is not actually being earned as it offsets the home loan interest,” Watt said. Despite the increase in housing affordability, the report says that since 1994-95, the proportion of households that own their home outright has dropped to 31% from 42%. Households with a mortgage has increased to 36% from 30%, while the proportion of households renting privately has gone up to 26% from 18% between 1994-95 and 2013-14.    For each product act. has, including home loans, act. allocates ‘impact dollars’ – real dollars taken from the profit it earns – and gives them back to its customers, who can then donate to a project of their choice listed on <a href="https://letsact.com.au/" target="_blank">letsact.com.au</a>
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Owning a home more affordable than renting: report

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There was a time when a big infrastructure project was an economic gold mine for the local community.
The proponents hired local people and bought services from local businesses. Expert personnel brought in from outside rented local houses.
How quaint were those days. How very last century. 
Today you fly everyone in from a distance and build a temporary camp to accommodate them. A town can have a $2 billion project happening 5km down the road without any change in the local unemployment rate or the residential vacancy rate. 
In fact, the vacancy rate may well rise if developers build new dwellings in anticipation of increased demand. Gladstone’s influx of tens of thousands of new jobs coincided with its vacancy rate rising from near zero to 10%. Most of the worker stayed in camps on an offshore island.
If you live locally and want a job on the big new project that comes to town, you may need to migrate interstate because big companies prefer to fly their workers in from outside.
Most companies planning big mining projects put out press releases promising to hire local workers and services, but in most cases they’re lying.
And it’s not just resources projects using the modern-day scourge of FIFO workforces and temporary accommodation camps. Now, everyone’s doing it.
In Bundaberg in Queensland, a business that grows strawberries has received council approval for a nine-stage short-term accommodation development to house seasonal workers. The losers will be local landlords and owners of backpackers accommodation. 
In Toowoomba, a 500-room workers camp was proposed by one of the companies hoping to become the preferred tenderer for the $1.3 billion Toowoomba bypass, also known as the Toowoomba Second Range Crossing. 
As it happens the Rangelink consortium didn’t win the tender. But it demonstrates how the concept of mobile workforces and temporary workers camps is taking hold.
The PR for projects like this always put the number of jobs created up in lights. That used to mean local jobs and politicians would gush about the local benefits. Today it’s likely very few of those jobs will be people living locally. 
It’s changed the way property investors need to assess locations worthy of their attention. A big infrastructure development may create some economic ripples in the local community but these events no longer create the property booms of the past.
Today, the big infrastructure projects are more likely to create ghost towns than boom towns. Regional Australia is littered with towns that once thrived from the presence of big industrial developments or mining projects – places where investors enjoyed double-digit rental yields.
Now the vacancy rates read like this: Mackay 7%, Port Hedland 8%, Emerald 8%, Newman 9%, Chinchilla 17%, Miles 24%.
Many would speculate that this is evidence of the end of the resources boom. It’s not. In most cases, it’s evidence of the proponents of major mining or infrastructure projects bypassing the local town and putting up their workers in temporary camps.  
The property market in the WA town of Newman has crashed during the construction phase of the $9 billion Roy Hill iron ore mine. Seven thousand people are working on this project but Newman’s median price has dropped 24% in the past year and rents are about a quarter of their peak levels.
And the core message is that  this phenomenon is no longer just a resources sector scenario. It’s spread to other enterprises.
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

FIFO accommodation and the rental debacle: Terry Ryder

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A new survey has found moving house in Sydney can cost almost half of the annual monthly wage. 
Respondents to the to the Fair Go Finance ‘Make Moving Happen’, a survey of 3,383 Australian renters found $3,402 is spent on average to move properties.
 Sydney is the most expensive capital city for renters to move with Melbourne is the cheapest.
Fair Go Finance managing director Paul Walshe said the research also found one in four renters moves every two years, and nearly half (44%) of renters surveyed have needed some assistance to pay the bond.
"If people are using a bond loan purely for bridging finance between properties, they need to make sure they can repay it early without penalty," he said. 
"Features like this allow for greater flexibility when the need to move occurs, especially when it is unexpected due to job transfers or following a relationship breakdown.
"The biggest moving expense is furniture with renters spending around $880 to fit out their new rental. Removal companies were the second biggest expense ($200) and utilities’ connection fees the third ($195)."
Average weekly earnings 
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="213">
Full-time adult average weekly total earnings
</td>
<td valign="bottom" nowrap width="71">
Weekly
</td>
<td valign="bottom" nowrap width="71">
Monthly
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="213">
Ave national
</td>
<td valign="bottom" nowrap width="71">
$1,545.6
</td>
<td valign="bottom" nowrap width="71">
$6,182.4
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="213">
Ave Vic
</td>
<td valign="bottom" nowrap width="71">
$1,396.6
</td>
<td valign="bottom" nowrap width="71">
$5,586.4
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="213">
Ave NSW
</td>
<td valign="bottom" nowrap width="71">
$1,512.1
</td>
<td valign="bottom" nowrap width="71">
$6,048.4
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="213">
Ave QLD
</td>
<td valign="bottom" nowrap width="71">
$1,440.9
</td>
<td valign="bottom" nowrap width="71">
$5,763.6
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="213">
Ave WA
</td>
<td valign="bottom" nowrap width="71">
$1,691.2
</td>
<td valign="bottom" nowrap width="71">
$6,764.8
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="213">
Ave SA
</td>
<td valign="bottom" nowrap width="71">
$1,348.2
</td>
<td valign="bottom" nowrap width="71">
$5,392.8
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="213">
<a href="https://www.propertyobserver.com.au/https://www.abs.gov.au/ausstats/abs@.nsf/mf/6302.0" target="_blank">Source: ABS</a>
</td>
<td valign="bottom" nowrap width="71"> </td>
<td valign="bottom" nowrap width="71"> </td>
</tr>
</tbody></table>
 
Moving cost and bond 
<table border="0" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="top" width="130">
Average Moving Cost
</td>
<td valign="top" width="65">
National
</td>
<td valign="top" nowrap width="65">
Sydney
</td>
<td valign="top" nowrap width="65">
Perth
</td>
<td valign="top" nowrap width="65">
Adelaide
</td>
<td valign="top" nowrap width="65">
Brisbane
</td>
<td valign="top" width="65">
Melbourne
</td>
</tr>
<tr>
<td valign="bottom" width="130">
End-of-lease cleaning
</td>
<td nowrap width="65">
 $188
</td>
<td nowrap width="65">
 $149
</td>
<td nowrap width="65">
 $175
</td>
<td nowrap width="65">
 $151
</td>
<td nowrap width="65">
 $244
</td>
<td nowrap width="65">
 $161
</td>
</tr>
<tr>
<td valign="bottom" width="130">
Hire of van
</td>
<td nowrap width="65">
 $142
</td>
<td nowrap width="65">
 $160
</td>
<td nowrap width="65">
 $118
</td>
<td nowrap width="65">
 $141
</td>
<td nowrap width="65">
 $134
</td>
<td nowrap width="65">
 $140
</td>
</tr>
<tr>
<td valign="bottom" width="130">
Removal company
</td>
<td nowrap width="65">
 $200
</td>
<td nowrap width="65">
 $210
</td>
<td nowrap width="65">
 $148
</td>
<td nowrap width="65">
 $210
</td>
<td nowrap width="65">
 $228
</td>
<td nowrap width="65">
 $165
</td>
</tr>
<tr>
<td valign="bottom" width="130">
Transport for family
</td>
<td nowrap width="65">
 $80
</td>
<td nowrap width="65">
 $38
</td>
<td nowrap width="65">
 $88
</td>
<td nowrap width="65">
 $81
</td>
<td nowrap width="65">
 $78
</td>
<td nowrap width="65">
 $47
</td>
</tr>
<tr>
<td valign="bottom" width="130">
Transport for pets
</td>
<td nowrap width="65">
 $20
</td>
<td nowrap width="65">
 $6
</td>
<td nowrap width="65">
 $19
</td>
<td nowrap width="65">
 $13
</td>
<td nowrap width="65">
 $15
</td>
<td nowrap width="65">
 $15
</td>
</tr>
<tr>
<td valign="bottom" width="130">
Buying furniture for new property
</td>
<td nowrap width="65">
 $880
</td>
<td nowrap width="65">
 $1,030
</td>
<td nowrap width="65">
 $1,076
</td>
<td nowrap width="65">
 $1,032
</td>
<td nowrap width="65">
 $795
</td>
<td nowrap width="65">
 $921
</td>
</tr>
<tr>
<td valign="bottom" width="130">
Connection fees (for example connection to phone, electricity or internet)
</td>
<td nowrap width="65">
 $195
</td>
<td nowrap width="65">
 $195
</td>
<td nowrap width="65">
 $218
</td>
<td nowrap width="65">
 $235
</td>
<td nowrap width="65">
 $173
</td>
<td nowrap width="65">
 $203
</td>
</tr>
<tr>
<td valign="bottom" width="130">
Storage (for furniture or items not moving into the new property)
</td>
<td nowrap width="65">
 $84
</td>
<td nowrap width="65">
 $76
</td>
<td nowrap width="65">
 $50
</td>
<td nowrap width="65">
 $53
</td>
<td nowrap width="65">
 $67
</td>
<td nowrap width="65">
 $70
</td>
</tr>
<tr>
<td valign="bottom" width="130">
Other
</td>
<td nowrap width="65">
 $91
</td>
<td nowrap width="65">
 $96
</td>
<td nowrap width="65">
 $44
</td>
<td nowrap width="65">
 $69
</td>
<td nowrap width="65">
 $74
</td>
<td nowrap width="65">
 $73
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="130">
TOTAL
</td>
<td nowrap width="65">
$1,880
</td>
<td nowrap width="65">
$1,962
</td>
<td nowrap width="65">
$1,935
</td>
<td nowrap width="65">
$1,984
</td>
<td nowrap width="65">
$1,810
</td>
<td nowrap width="65">
$1,794
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="130">
AVERAGE BOND
</td>
<td nowrap width="65">
$1,522
</td>
<td nowrap width="65">
$1,816
</td>
<td nowrap width="65">
$1,768
</td>
<td nowrap width="65">
$1,670
</td>
<td nowrap width="65">
$1,578
</td>
<td nowrap width="65">
$1,514
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="130">
MOVING COSTS+BOND 
</td>
<td nowrap width="65">
$3,402
</td>
<td nowrap width="65">
$3,778
</td>
<td nowrap width="65">
$3,703
</td>
<td nowrap width="65">
$3,653
</td>
<td nowrap width="65">
$3,388
</td>
<td nowrap width="65">
$3,308
</td>
</tr>
</tbody></table>
**Excludes Darwin, Hobart and Canberra due to insufficient sample
Lost bond 
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" nowrap width="65">
NATIONAL
</td>
<td valign="bottom" nowrap width="65">
 $1,083.64 
</td>
<td valign="bottom" nowrap width="65"> </td>
<td valign="bottom" nowrap width="65"> </td>
</tr>
<tr>
<td valign="bottom" nowrap width="65">
VIC
</td>
<td valign="bottom" nowrap width="65">
 $1,085.58
</td>
<td valign="bottom" nowrap width="65">
Melbourne
</td>
<td valign="bottom" nowrap width="65">
 $1,100.54
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="65">
NSW
</td>
<td valign="bottom" nowrap width="65">
 $1,063.60
</td>
<td valign="bottom" nowrap width="65">
Sydney
</td>
<td valign="bottom" nowrap width="65">
 $1,180.76
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="65">
QLD
</td>
<td valign="bottom" nowrap width="65">
 $998.32
</td>
<td valign="bottom" nowrap width="65">
Brisbane
</td>
<td valign="bottom" nowrap width="65">
 $975.44
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="65">
WA
</td>
<td valign="bottom" nowrap width="65">
 $1,115.58
</td>
<td valign="bottom" nowrap width="65">
Perth
</td>
<td valign="bottom" nowrap width="65">
 $915.44
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="65">
SA
</td>
<td valign="bottom" nowrap width="65">
 $1,292.27
</td>
<td valign="bottom" nowrap width="65">
Adelaide
</td>
<td valign="bottom" nowrap width="65">
 $1,407.28
</td>
</tr>
</tbody></table>
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Sydney most expensive capital city to move for renters

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The number of rental property vacancies across New South Wales fell 0.2% to 1.9% in July, according to the REINSW.
The July 2015 REINSW Vacancy Rate Survey found falls in Inner Sydney saw of 0.5 per cent to 2.1%, Middle Sydney fell 0.2% to 1.7% and Outer Sydney fell 0.1% to 1.6%.
REINSW President Malcolm Gunning said despite the 0.2% decline month on month a strong stream of property on the market starting to feed the migration into Sydney.
“Supply is still strong,” Gunning said. 
“Vacancy rates remain close to 2.0 per cent which shows that supply is starting to meet demand.
“Outer Sydney has hit levels last seen in December 2014.
Illawarra vacancy rates dropped 0.5% to 1.7%, Wollongong down 1.0% to 1.4%. Vacancies rose in the Hunter region 0.2 per cent to 3.7%, New England climbed 1.2% to 4.6% and Orana increased to 4.0%. 
<a href="/images/2015/08/18/Screen%20Shot%202015-08-18%20at%201.58.36%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/18/Screen%20Shot%202015-08-18%20at%201.58.36%20PM.png" alt="" width="746" height="232">
 
<a href="/images/2015/08/18/Screen%20Shot%202015-08-18%20at%202.00.59%20PM.png" target="_blank">Click to enlarge</a>
<img src="/images/2015/08/18/Screen%20Shot%202015-08-18%20at%202.00.59%20PM.png" alt="">
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NSW rental property vacancies slide: REINSW

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Real estate agent John McGrath has given his tips on what property investors should do in a softening rental market, adding the current market situation is great news for renters.
In an opinion piece for Peter Switzer's Switzer Daily, McGrath said rental growth might be slowing down but it’s not going backwards, so many landlords won’t be in a position where they have to reduce rents, they’ll just have to keep them at the same level for a while. 
He wrote that more properties available for rent means more options for a growing community of renters – especially Gen Y Australians, many of whom have resigned themselves to a life of renting in expensive cities like Sydney. 
"When supply increases, landlords need to be extra careful to keep their tenants happy. The most important thing is responding to their needs – quickly. Don’t delay small repairs – accept the cost (which is almost always tax deductible or at least depreciable) and get it fixed. If your tenant believes you will look after them, the allure of a slightly better value option down the road won’t be enough to make them move out," McGrath said.
"If your property is going onto the market at a time of increasing supply, do something to make it stand out. You need to ‘wow’ tenants when supply is high. If your property looks well-kept, that will take it to the top of the list. Quality is important to tenants – remember, this is going to be their home.
"In terms of the importance of rental returns to landlords, of course we all want to receive the maximum yields possible. We’re in the game to make money, after all. But in the grand scheme of things, I have always seen rental yields as less important than capital gains. If you’re looking at buying an investment property, consider the potential for capital gain first. Don’t go buying a high yielding property that has little potential for growth in value. It won’t serve you well in the long run."
He added the ideal scenario is to have some blue chip investments in your portfolio that are delivering reliable long-term capital growth; and a couple of cheaper properties that deliver a great yield to help you afford the repayments on the blue chips (which are often negatively geared as high quality properties cost more to buy!). 
Rents across capital cities.
Median rents across the capital cities 
<ul>
<li>Sydney Houses $610 pw | Apartments $536 pw</li>
<li>Melbourne Houses $456 pw | Apartments $404 pw</li>
<li>Brisbane Houses $436 pw | Apartments $408 pw</li>
<li>Perth Houses $472 pw | Apartments $419 pw</li>
<li>Adelaide Houses $373 pw | Apartments $317 pw</li>
<li>Canberra Houses $504 pw | Apartments $403 pw</li>
<li>Darwin Houses $575 pw | Apartments $459 pw</li>
<li>Hobart Houses $343 pw | Apartments $298 pw</li>
</ul>
To view the original article on the Switzer Daily, <a href="https://www.switzer.com.au/the-experts/john-mcgrath-property-expert/what-to-do-in-a-softening-rental-market/" target="_blank">click here.</a>
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