Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

Joel Robinson

First look at MAYD's North Kirra mixed-use precinct

<main data-perf-region="main">
Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

[smartcode_project:default project_id=152737 project_image_fid=377679]

The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

[smartcode_project:default project_id=152737 project_image_fid=377675]

Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

[smartcode_project:default project_id=152737 project_image_fid=377685]

Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

[smartcode_project:default project_id=152737 project_image_fid=377680]

Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

&nbsp;

[smartcode_project_cta:default project_id=152737]

<h3 data-end="3697" data-section-id="q3n5ak" data-start="3672">&nbsp;</h3>
</main>

Nova Rêve arrives as Reve Group bets on Castle Hill's next growth phase

A collection of just 25 large-format apartments and penthouses overlooking Goodwin Park is entering the Coolangatta market, with <a href="https://www.apartments.com.au/new-apartments/marea-residences-coolangatta-27-27a-dixon-street-coolangatta-qld-4225">Maréa Residences</a> combining a low-density, residential-only approach with uninterrupted park and Pacific Ocean outlooks.

Located at 27 Dixon Street, Maréa comprises three and four-bedroom residences alongside a limited number of dual-level penthouses, with the project positioned between Goodwin Park and <a href="https://www.apartments.com.au/developments/coolangatta-qld-4225">Coolangatta</a>’s coastal precinct.

Construction has commenced, with completion currently estimated for late 2027. Three-bedroom residences are priced from $1.8 million.

[smartcode_project:default project_id=150999 project_image_fid=374005]

The project has been designed around its northern outlook across the park, with the building’s architecture, landscaping and material palette intended to establish a connection with the neighbouring green space. The residences have been configured to maximise natural light and views across Goodwin Park towards the ocean.

Inside, the material palette incorporates timber, stone and brushed brass, complemented by curved detailing and ambient lighting. Kitchens and bathrooms carry the same natural material approach, while residences also include basement parking, storage and lift access.

Maréa’s penthouses are arranged over two levels and include private pools, adding another layer to the project’s focus on larger-format apartment living. Across the development, residences are configured with three or four bedrooms rather than the broader mix of smaller apartment types commonly found in larger projects.

[smartcode_project:default project_id=150999 project_image_fid=374010]

Resident amenity is concentrated at rooftop level, where landscaped entertaining terraces and pools take advantage of elevated views across Coolangatta and the Pacific Ocean.

The project has so far been particularly well received by local owner-occupiers and downsizers, according to Urban Activation Property Sales and Marketing Director Matt George, with the residential-only format, construction quality and northern park outlook among the features resonating with purchasers.

“The uninterrupted northern aspect overlooking Goodwin Park has been a key point of difference, with buyers attracted to the sense of serenity and open space the park provides, while still enjoying easy access to the ocean and being within walking distance of the lifestyle and amenities Coolangatta has to offer,” George said.

[smartcode_project:default project_id=150999 project_image_fid=374002]

“The combination of high-quality construction, a residential-only building, park outlook and proximity to the beach has resonated strongly with the local downsizer market.”

The Dixon Street address is within walking distance of Coolangatta Beach and the broader southern Gold Coast coastline, including the surf breaks at Snapper Rocks and Kirra. Coolangatta’s cafés, restaurants and retail are nearby, while Gold Coast Airport is also within close proximity.

[smartcode_project_cta:default project_id=150999]

Maréa Residences brings parkside apartments to Coolangatta

Melbourne developer PDG has secured Victorian Government approval for its $1.5 billion Southbank development <a href="https://www.apartments.com.au/new-apartments/the-one-1-queens-bridge-street-southbank-vic-3006">The One</a>, clearing the way for the long-dormant riverfront site opposite Crown to finally be developed.

The Minister for Planning has approved the project at 1-29 Queens Bridge Street, with the Department of Transport and Planning issuing the planning permit following its assessment.

The approval will allow PDG to develop the prominent 5,059 sqm site with a major mixed-use tower comprising premium apartments, including branded residences, a luxury hotel and boutique office space.

PDG acquired the site in late 2024, with its position directly opposite Crown's main entrance and near Melbourne's Arts Precinct making it one of Southbank's most significant remaining development opportunities.

<img alt="PDG" data-entity-type="file" data-entity-uuid="3933013e-6332-4386-b9be-089df05caf17" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.22%E2%80%AFAM.png?VersionId=sITIgBqDL0N3VNSMwWEmF5UA.uvcsRyu" />

Designed by COX in collaboration with ODO and PDG, the tower's architecture draws on the movement of the Yarra River, with six vertical pleats running the height of the sculpted facade.

The project will also see the heritage-listed Queens Bridge Hotel restored and incorporated into the development&nbsp;with new hospitality and public uses, including a rooftop venue.

A significant component of The One will be its residential amenity.

More than 5,000 sqm of resident facilities will be delivered across a single level, making it one of the largest consolidated residential amenity offerings proposed in an Australian apartment development.

The planning approval also incorporates a major upgrade of Queensbridge Square, which PDG will deliver in partnership with the City of Melbourne.

<img alt="PDG" data-entity-type="file" data-entity-uuid="73167fcd-1031-4b6f-a408-a064cfe45ed1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%209.29.17%E2%80%AFAM.png?VersionId=Pf1AEWxw6SNmBqR0zQW5lyEze.MtxgFp" />

The existing square will be revitalised as a new civic and pedestrian space along the Yarra River, strengthening the connection between the project, Southbank and the riverfront.

PDG Founder and Managing Director Vince Giuliano said the approval represented a major milestone for a site which has remained largely underutilised for more than 15 years.

“This is the most significant Planning Permit approval Melbourne has seen in recent years,” Giuliano said.

“For more than 15 years, this site has remained underutilised. This approval enables us to deliver a project that will contribute meaningfully to the revitalisation of Southbank, restore and reactivate an important heritage building, and create a new civic and hospitality destination for Melbourne.”

The latest approval follows an earlier planning permit issued by the City of Melbourne covering demolition works across part of the site at 9-29 Queens Bridge Street. Those demolition and early works are already underway.

PDG has also started generating early interest in the residential component from owner-occupiers ahead of a planned public launch in early 2027.

PDG secures approval for $1.5bn Southbank apartment development, The One

Local developer Harridan is seeking to turn its Woolloongabba apartment project into the first stage of a broader transformation of Burke Street, using a new 16-storey mixed-use building to establish a greener pedestrian connection toward the rapidly evolving Boggo Road transport and knowledge precinct.

The South East Queensland developer has filed plans for 154 apartments on the <a href="https://www.apartments.com.au/new-apartments/4-burke-street-woolloongabba-qld-4102">southern side of Burke Street</a>, where its proposal has been designed alongside a wider vision by LatStudios for the street.

That vision positions the southern side of Burke Street for buildings of 15 storeys and above, while envisaging lower-rise development of up to five storeys on the northern side to transition into Woolloongabba's existing character housing. It also proposes wider pedestrian verges, deep planting, new street trees and upgrades to the pedestrian approach to Boggo Road Station.

The Harridan development itself has been designed by Brisbane-based Arqus Design and will comprise 154 apartments across 16 storeys. The mix is weighted heavily toward two-bedroom apartments, with 121 proposed alongside 10 one-bedroom and 23 three-bedroom residences. There will typically be around 14 units per floor.

A lower-ground car park and three podium levels will accommodate 156 resident parking spaces, along with visitor and commercial parking. There will also be 154 resident bicycle spaces and 40 visitor bicycle parks.

&nbsp;

Harridan is a family-owned developer and part of the Holmwood Highgate Group, with more than three decades of development activity across South East Queensland. Its portfolio spans residential, commercial and industrial property, with current residential projects including Riverbank on Byron in Bulimba, Esperance Residences in Carina and The Precinct at Kinross Road in Thornlands.

Wooloongabba has been popular for apartment developers, particularly since the announcement of the 2032 Summer Olympics games in Brisbane.

While there have been a lot of development applications, it has failed to materialize into real supply.&nbsp;

Sarazin has been the major player in the area. They are under construction at Murcia Residences, on the fringe of East Brisbane and Woolloongabba. They have just launched <a href="https://www.apartments.com.au/new-apartments/the-stanley-residences-woolloongabba-8-trafalgar-street-woolloongabba-qld-4102">The Stanley Residences</a>, in Woolloongabba on Trafalagar Street. They also have Nuage coming soon on the nearby <a href="https://www.apartments.com.au/new-apartments/nuage-woolloongabba-14-wellington-road-woolloongabba-qld-4102">Wellington Road</a>.

First look: Harridan plans Burke Street transformation beside Boggo Road transport hub

Rental market

<html><body>
Over the past five years, "strategic leasing initiatives" have saved taxpayers an estimated $80 million on office rental costs in the Sydney CBD.
Property NSW CEO, Brett Newman, said effective management of the portfolio, a combination of moving from premium buildings and negotiating below-benchmark new deals on CBD office space, had delivered savings for the Government.
“Prime Gross Effective office rents in Sydney’s CBD have increased by more than 55 per cent in the last three years and are forecast to increase significantly over the next three years amid constrained supply,” Mr Newman said 
The Government's plan has involved moving out of premium buildings and into A Grade buildings as well as increasing its presence in the Southern CBD.
Mr Newman said the Government has moved from paying around 15 per cent above the Prime Industry Benchmark in 2014 to more than 30 per cent below in 2018."
The NSW Government is the State’s largest tenant, occupying more than one million square metres of office space across metropolitan and regional NSW.
Property NSW is has made progress on reducing CBD office space by a goal of 100,000 sqm by 2021.
It has made a reduction of more than 70,000 sqm to date.
</body></html>

j.ballantyne1990-6AQqhLzZaK

NSW Government saves $80 million on Sydney CBD leases

<html><body>
In Brisbane, median weekly house rents remained stable over the September quarter and year at $400 per week, according to the latest rental report from Domain.
Unit rents increased marginally by 1.4% over the quarter and year to reach $375 per week.
The report found that Brisbane provided the third strongest gross rental yields for houses and fourth for units compared to all other Australian capital cities.
House gross rental yields improved by 0.6% over the quarter to 4.62% despite an annual decline of 0.6%.
Unit gross rental yields increased by 0.7% from the June quarter and 3.9% annually to 5.12% - the strongest annual increase in more than six years.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/domain%20brisbane.jpg" alt="">
Domain Senior Research Analyst, Dr Nicola Powell said:
"Apart from a couple of fluctuations, tenants in the sunshine state have enjoyed four years of steady house rents at $400 a week - this is the longest period of stability in Brisbane’s rental history.
"The unit market appears to have had a minor turnaround, with rents increasing for the first time in two years.
"Brisbane’s advertised rental stock slipped as a result of the unprecedented inner-city unit development slowing.
"The state experienced a decade high level of internal migration, with Brisbane becoming one of Australia’s fastest growing city populations.
"All signs point to a broad tightening of the rental market.
"We may also see Sydney and Melbourne investors, dissatisfied with falling property prices, looking north for better yields and growth prospects, as well as seeking lower entry-prices and holding costs."
</body></html>

Longest period of stability in Brisbane's rental history: Domain

<html><body>
Perth retains its title as the most affordable capital city rental market with no changes to house and unit rents over the quarter or year, according to the latest rental report from Domain.
The report found Perth’s median house rent is sitting at $350 while units are also flat at $300 per week.
This is the sixth consecutive quarter of flat unit price movement for the capital city.
Gross rental yields for houses continued to improve over the quarter and over the year at 4.26%.
Gross rental yields for units declined over the quarter to 4.58% but continued to improve year-on-year.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/domain%20perth.jpg" alt=""> Domain Senior Research Analyst, Dr Nicola Powell said:
"Perth tenants will find themselves with less rental choice as advertised rental listings have been dwindling for over a year.
"A broader tightening of the rental market appears to be occurring due to a slowdown in dwelling commencements and investor activity remaining relatively stagnant.
"This has seen tenants absorb the existing rental stock.
"Rental prices have been deteriorating since 2014 following the state’s challenging economic conditions.
"However, this is the first time both property types have displayed a more positive sign with rents holding steady over the quarter and year." 
</body></html>

Positive signs for Perth as rental prices holding steady: Domain

<html><body>
Despite house rents increasing by 4.2% over the year, Adelaide remained the second most affordable city for tenants (behind Perth), according to the latest rental report from Domain.
The report found that rental prices held steady over the quarter at $375 per week.
Adelaide remains the most affordable capital city for units with median weekly rents remaining at $300 per week - up 1.7% year-on-year.
Gross rental yields for houses declined over the quarter and year to 4.47%.
For units, gross rental yields strengthened by 0.1% over the quarter and 2.1% over the year to 5.19%. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/domain%20adelaide.jpg" alt=""> Domain Senior Research Analyst, Dr Nicola Powell said: "Adelaide’s rental market appears to be tightening with advertised stock levels declining.
"If rental supply continues to track lower in the coming months it will create greater competition between tenants, which will drive up asking rents. 
"Despite rental prices rising, Adelaide remains one of the more affordable rental markets.
"For investors, the city offers more favourable yields relative to the other Australian capital cities."
</body></html>

Adelaide rental yields favourable for investors: Domain

<html><body>
Canberra’s median weekly house rent held steady at the record high of $550, which was first reached in the June quarter, according to the latest rental report from Domain.
The report found that Canberra remains the most expensive city to rent a house, along with Sydney.
House rents increased by 8.4% over the year, the second highest jump of all capital cities.
Unit rents in Canberra were flat at $450 per week, a record that has been maintained for the entire calendar year.
With an annual increase of 7.1%, Canberra achieved the second highest growth in unit rents of all capital cities year-on-year.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/canberra.jpg" alt=""> Domain Senior Research Analyst, Dr Nicola Powell noted: "Rental prices may not have risen further over the quarter, but Canberra has experienced one of the strongest annual growth rates of all the capital cities.
"Supply continues to tighten with house rental numbers now at a five year low and unit rental supply hitting a two-year low.
"Rising rates and investor land tax are likely weighing heavily on some investors - this could be driving some to sell, raise asking rents or opt for higher yielding options such as short-term leases.
"Canberra has seen a rise in short-term rental demand, with recent tourism data revealing overnight accommodation has risen in the past year.
"All these factors are placing additional pressure on the rental market."
</body></html>

Canberra's tightening rental supply leading to rate rises: Domain

<html><body>
Darwin house rents held steady over the quarter, but declined over the year by 3.8% to $500 a week, according to the latest rental report from Domain.
The report found that unit rents in Darwin experienced no quarterly or annual change, holding steady at $400 per week.
This is the first time in four years unit rents have not declined over the quarter and year.
Darwin continued to offer investors the highest unit gross rental yields at 6.08%, the only Australian capital city to achieve a yield above 6%.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/domain%20darwin.jpg" alt="">
"For investors, a softening sales market continues to improve unit gross rental yields, almost pushing them back to the record highs achieved in 2004 and 2005," said Domain Senior Research Analyst, Dr Nicola Powell.
"A turnaround in rental demand for the city is largely dependent on economic growth, jobs creation and an improved population growth.
"The Northern Territory Government has announced a revitalisation of Darwin’s CBD with an aim at enhancing liveability, and offering key workers financial incentives to relocate.
"The impacts from the initiatives remain to be seen but the long-term approach to addressing population growth are likely to support rental demand."
</body></html>

Darwin unit rentals stabilise after four years of decline: Domain 

<html><body>
Median weekly house rents in Sydney remained steady over the September quarter and year at $550 per week, according to the latest rental report from Domain
The report found, house rents have now flatlined for a year and a half while unit rents declined by 0.9% over the quarter and year - this is the first time unit rents have declined annually since records began in 2004. 
Although gross rental yields in Sydney remain low relative to the other capitals, declining property prices have seen house and unit yields experience the strongest annual improvement since 2012.
Sydney unit rents have now declined from an all time high in response to an increase in rental supply.
Domain Senior Research Analyst, Dr Nicola Powell said: "Advertised rental stock is currently at a new record high, with the growth in unit rentals hitting a pace not seen in six years. Tenants will find they have considerably more houses and units to choose from than this time last year."
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/domain%20sydney%20.jpg" alt=""> If advertised stock levels continue to track higher, it should put downward pressure on rents.
Although strong levels of migration, combined with the barrier of high house prices, may help to counterbalance this. "Current conditions however, will make landlords think twice when deciding to raise rents. It is highly likely we will see more incentives at play, with landlords keen to attract and retain good tenants," said Powell.
</body></html>

Sydney unit rents decline for the first time in 14 years: Domain

<html><body>
Perth’s rental market has improved, with positive results observable across all key market indicators, According to new reiwa.com data for the September 2018 quarter.
REIWA President Damian Collins said leasing activity was up, median rents remained stable, stock levels had reduced, average leasing times were quicker and the vacancy rate had plummeted to its lowest level in more than four years.
“The rental sector is really leading the charge in the Perth property market recovery. The September 2018 quarter results are very encouraging and should provide landlords and investors with a lot of confidence," Mr Collins said.
Median rent price
Perth’s median rent price across houses and units held at $350 per week for a sixth straight quarter.
Reiwa.com data shows this is the longest period of stable rents the Perth rental market has experienced.
Additionally, when looking at houses reiwa.com data shows the median house rent increased $10 this quarter to $360 per week.
Reiwa.com analysis shows 105 suburbs across the metro area saw their median rent increase during the September 2018 quarter.
"The five best performing suburbs for overall rent price growth were Kallaroo (up 39.5 per cent to $530 per week), City Beach (up 25.9 per cent to $850 per week), Gwelup (up 24.5 per cent to $623 per week), Cottesloe (up 23.5 per cent to $605 per week) and Alexander Heights (up 21.9 per cent to $390),” Mr Collins noted.
Other top performers were Connolly, Inglewood, Ashby, Beaconsfield and Wembley.
Leasing activity
There were 13,234 properties leased during the September 2018 quarter.
Reiwa.com data showed this represented an increase of 5.2 per cent compared to the June 2018 quarter.
“Tenants were a lot more active this quarter than last, with 132 suburbs across the metro area recording increases in the number of properties leased,” Mr Collins said.
Reiwa.com data shows the five suburbs with the highest volume of properties leased during the quarter were Perth (346), East Perth (343), Scarborough (319), Baldivis (243) and Maylands (235).
South Perth, Rockingham, West Perth, Rivervale and Midland were also standout suburbs.
Mr Collins is of the opinion, "provided landlords are listening to the advice of their property manager and pricing their rental in line with market expectations, they have a very good chance of securing a tenant.”
Listings for rent
There were 7,286 properties for rent in Perth at the end of the September 2018 quarter.
Reiwa.com data shows that these stock levels represent an 11.9 per cent drop compared to the June 2018 quarter and a 25.1 per cent drop compared to last year’s September quarter.
Mr Collins stated, “This sharp decline can be attributed to a combination of leasing activity improving and new dwelling commencements slowing. With less new properties coming onto the market, rental stock is being absorbed at a quicker pace, which has put downward pressure on listing volumes.”
Average leasing time
It took landlords 46 days on average to find a tenant for their rental during the September 2018 quarter.
According to reiwa.com data this is one day faster than the June 2018 quarter and eight days faster than the September 2017 quarter.
Mr Collins said that this was due to, “a combination of increased tenant activity and lower listing levels has had a positive impact on average leasing times for landlords, with tenants needing to act quicker to secure a rental.”
Vacancy rate
Perth’s vacancy rate declined to 3.9 per cent during the September 2018 quarter, the lowest level Perth has experienced since the March 2014 quarter, according to reiwa.com data.
Since key market indicators improved during the September quarter, Perth’s vacancy rate has now fallen below the 10 year average.
Mr Collins concluded, “slowly but surely we are moving towards parity in the Perth rental market, with improved conditions across the board meaning there is good opportunity for tenants and landlords to benefit simultaneously.”
</body></html>

Rental market leading Perth's property market recovery: REIWA

<html><body>
Hobart experienced the highest annual growth in weekly house rents with a 10.8% increase to $410 per week, according to the latest rental report from Domain.
The report found, Hobart was the only capital city to record double-digit rental growth.
Unit rents however declined by 2.8% over the quarter to $350 per week, but remained strong with an annual jump of 9.4%.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/domain%20hobart.jpg" alt=""> "The significant momentum that built in Hobart’s competitive rental market over the past two years appears to be easing," said Domain Senior Research Analyst, Dr Nicola Powell.
"Available rental stock has marginally increased, which is anticipated as the city has seen an increase in housing developments alongside heightened investor activity.
"Despite recording the strongest annual rate of growth of the Australian capital cities, the pace of growth is now slowing."
</body></html>

Hobart records double-digit housing rental growth: Domain

<html><body>
Median weekly rents remained flat for the quarter at $430 for houses and $410 for units, according to the latest rental report from Domain.
The report found, Melbourne house rents climbed 2.4% higher over the year and unit rents 2.5%.
However, rental price growth is less than half of the annual growth over the same period in 2017.
House gross rental yields improved over the quarter to 3.13%, however, remained the lowest across all of the Australian capital cities.
Melbourne unit gross rental yields jumped by 0.8% for the quarter to 4.32% — the highest quarterly growth of all Australian capital cities. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/10/10/domain%20melbourne%20.jpg" alt="">
Domain Senior Research Analyst, Dr Nicola Powell said, "rental prices continued to rise on an annual basis, but the pace of growth is less than half of what it was over the same period in 2017".
"Despite record levels of apartment development and investment activity, total advertised stock volumes have failed to increase," she said. 
"The number of advertised unit rentals has dwindled for four consecutive years and house rentals are also tracking lower over the year.
"The unprecedented influx of new residents from overseas and interstate has placed additional demand on the rental market, which has lead to heightened competition for rental accommodation.
"The impact from the Victorian Government's recent rental reform is also yet to be seen.
"It could have an adverse effect on Melbourne’s rental landscape, with landlords opting for shorter-term leases or selling up.
"However, the overall impact on the rental market is likely to be minor."
</body></html>

Rental market

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Rental market

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News