The new <a href="https://www.apartments.com.au/new-apartments/yarraville-green-42-stephen-street-yarraville-vic-3013">Yarraville Green</a> development in Melbourne's inner west is showing that landscaping can be just as influential as architecture, with buyers responding strongly to the garden-first approach adopted from the outset by developer Excelon Projects and the project's design team.

Excelon appointed Six Degrees Architects and landscape architects SBLA to work collaboratively on the development, with a brief to create "a sustainable, design-led building with a focus on community."

That approach has resonated with buyers. According to Next Chapter Director Tom Hirini, who is leading the sales campaign, the landscaped communal garden has become one of the project's defining features, alongside its boutique scale and European-inspired cluster housing concept.

Local downsizers, right-sizers and established families already living in Yarraville and surrounding suburbs have accounted for the majority of purchasers.

[smartcode_project:default project_id=144913 project_image_fid=297740]

Yarraville Green will comprise 53 homes, including apartments and townhomes, arranged around the shared central garden to maximise connections to the landscaped open space. Parking has been moved underground, allowing the ground plane to be dedicated to greenery, pedestrian movement and communal spaces.

The landscape extends well beyond passive planting. Productive garden beds, a pergola, communal gathering spaces, garden sheds and a pet wash have all been integrated into the masterplan, creating spaces designed to encourage everyday interaction between residents.

[smartcode_project:default project_id=144913 project_image_fid=297741]

The interiors continue Excelon's focus on craftsmanship, incorporating bespoke elements by Melbourne artisans including leadlight detailing by Adadaz, hand-turned timber hardware by Auburn Woodturning and blown-glass lighting by Ruth Allen.

Sustainability has also been embedded throughout the project, with Yarraville Green targeting an average 7-star NatHERS energy rating through passive design principles, rooftop solar servicing common areas and rainwater harvesting for landscape irrigation.

[smartcode_project:default project_id=144913 project_image_fid=297735]

Construction continues to progress at Yarraville Green, with structural works well underway and framing works approaching completion under builder Balmain &amp; Co. The project remains on track for completion in mid-2027.

Apartments at Yarraville Green are currently priced from $625,000, while townhomes start from $1.4 million.

[smartcode_project_cta:default project_id=144913]

Joel Robinson

Garden-led design drives buyer demand at Yarraville Green

National diversified developer Fortis has officially launched Crest &amp; Walker, its latest Brisbane apartment development, with construction now underway on the 20-storey Newstead project.

Award-winning builder BINAH has commenced construction on the Bureau^Proberts-designed building, which will deliver a limited collection of 65 two and three-bedroom apartments on Kyabra Street.

[smartcode_project:default project_id=145922 project_image_fid=373556]

The project marks Fortis' fourth active residential development in Brisbane, following River House, which is nearing completion, alongside projects in New Farm and Hamilton as the national developer continues to expand its South East Queensland pipeline.

Fortis General Manager – Development Queensland Dan Boman said Crest &amp; Walker reflects the developer's long-term commitment to delivering design-led residential projects in Brisbane's established inner-city suburbs.

"We're proud to be strengthening our presence in Brisbane with Crest &amp; Walker, particularly in such a sought-after lifestyle destination as Newstead," Boman said.

"Every Fortis project is shaped by its context, and we approach each one with the respect and care it deserves.

"Our focus is always on creating places that feel connected to their neighbourhood and elevate the everyday experience for residents. Newstead continues to evolve as one of Brisbane's most sought-after urban communities, and Crest &amp; Walker reflects our ambition to contribute meaningfully to that story."

[smartcode_project:default project_id=145922 project_image_fid=373559]

Positioned between Gasworks Plaza and James Street, <a href="https://www.apartments.com.au/new-apartments/crest-walker-newstead-12-kyabra-street-newstead-qld-4006">Crest &amp; Walker</a> has been designed as a boutique residential address offering privacy and generous living spaces within one of Brisbane's most established lifestyle precincts.

The building features a contemporary brick podium softened by integrated landscaping, while the upper levels are characterised by restrained architecture and enduring materiality. Interiors have been designed to maximise natural light, acoustic performance and long-term liveability.

[smartcode_project:default project_id=145922 project_image_fid=373583]

Residences comprise spacious two and three-bedroom floorplans, with two-bedroom apartments priced from $1.55 million and three-bedroom, half-floor residences from $3.95 million.

Residents will have access to a wellness-focused rooftop featuring a swimming pool, sauna, steam room, landscaped dining spaces and outdoor lounge areas overlooking Newstead and the Brisbane CBD.

[smartcode_project:default project_id=145922 project_image_fid=373571]

Sales are being managed by Slaite Projects, with Fortis expecting strong demand from owner-occupiers seeking a high-quality, design-focused apartment in one of Brisbane's most tightly held inner-city suburbs.

Completion of Crest &amp; Walker is slated for late 2028.

[smartcode_project_cta:default project_id=145922]

Fortis expands Brisbane pipeline with launch of Crest & Walker in Newstead

The enormity of delivering a true skyscraper in Australia's new development market is often overlooked.

It has taken the best part of a decade since plans for Chevron One were first unveiled, but the 41-storey tower is now complete, with residents collecting their keys and moving into what has become one of the Gold Coast's most recognisable new landmarks.

Rising 127 metres above Chevron Island, Chevron One stands almost twice as high as any other building on the island. Its scale places it alongside the trio of towers at Jewel, arguably the last truly significant addition to the central Gold Coast skyline when they were completed around six years ago.

While there are several developments underway around a similar height to Chevron One, they are more concentrated within clusters of the highest towers in the city. The fact Chevron One sits within a developing precinct, looking back at the other high-rise developments in Surfers Paradise and Broadbeach, makes it a different proposition altogether. It will certainly become a reference point on the Gold Coast skyline.

[smartcode_project:default project_id=6515 project_image_fid=68833]

Developer Bensons Property Group is behind the 41-storey tower, which has 229 apartments, along with an exhaustive list of resident amenity spread across what is the largest development site ever assembled on Chevron Island.

The tower has been the talk of the town for years, says Ray White Projects Gold Coast agent Caitlin Rosenboom, who is selling the remaining apartments.

"People have been watching Chevron One go up for years," Rosenboom says, adding that many prospective buyers have been surprised by the scale of the views once they step inside.

"It's only when they walk through a completed apartment that they truly understand the position of the building," Rosenboom says.

"The views are jaw-dropping. Whether you're looking east over the ocean, across Surfers Paradise, along the river systems or out to the hinterland, every level offers something different but equally impressive."

[smartcode_project:default project_id=6515 project_image_fid=360215]

One of Chevron One's defining advantages is its location on the eastern side of Chevron Island on Stanhill Drive, a position which protects the views forever.

"There's only one row of houses between Chevron One and the water, and the height restrictions along the river means views from Chevron One can never be built out,"&nbsp;Rosenboom says.

While new apartment developments continue to emerge across the Gold Coast, Rosenboom says opportunities to secure a completed apartment with this level of outlook are becoming increasingly rare.

"The size of the site is something that would be incredibly difficult to replicate today," she says.

"That's allowed Chevron One to deliver the sort of amenity, open space and resident facilities that very few projects can offer. There are not many completed apartment buildings on the Gold Coast right now that can compete with the combination of scale, quality and amenity."

[smartcode_project:default project_id=6515 project_image_fid=68839]

There's around 2,000 sqm of amenity solely for the use of residents of Chevron One. Club One features a uniquely shaped swimming pool that mirrors the footprint of the building itself, set within a extensively landscaped gardens. There's also an indoor pool and spa, a fully equipped gym with a Pilates room, a yoga garden, a bookable private dining area and lounge that can host up to 30 people, and a 24-hour concierge service.

As for the buyers, Rosenboom is fielding enquiry from everywhere: Sydneysiders and Melburnians looking at the new and off-the-plan market following the changes in the Federal Budget, as well as those looking to relocate, through to South East Queenslanders seeking either a permanent home or a weekender bolthole.

"The Gold Coast lifestyle continues to resonate with people relocating from the southern states, and when they see the views and the quality of what's been delivered at Chevron One, it becomes very easy for them to understand the appeal," Rosenboom says.

A diverse mix of one, two and three-bedroom apartments remain available, with each offering "something a little different", be it the orientation and views, configuration, or level, to suit a wide variety of buyers.

The remaining apartments are ready to inspect in person, by appointment.

[smartcode_project_cta:default project_id=6515]

A decade in the making: Residents to move into Chevron One as construction wraps up

A general rule of thumb in new apartment developments is that the penthouses get the rooftop.

It's a formula that's become commonplace across Australia's apartment market. Residents might have access to a pool, gym or barbecue facilities on a dedicated lower level, but the most desirable outdoor spaces are typically reserved for the highest-priced homes at the top of the building.

<a href="https://www.apartments.com.au/developers/sherpa-property-group">Sherpa Property Group</a> has taken the opposite approach.

Rather than dedicating the rooftop to a handful of buyers, the Gold Coast developer has made it the centrepiece of its Flourish collection, creating expansive shared spaces from the best vantage point in the building.

The philosophy has reached its most ambitious expression at <a href="https://www.apartments.com.au/new-apartments/flourish-soleira-palm-beach-1150-1160-gold-coast-highway-palm-beach-qld-4221">Flourish Soleira</a> in Palm Beach, where two rooftop precincts connected by a skybridge will deliver one of the most extensive lifestyle offerings seen in a residential apartment project on the Gold Coast.

[smartcode_project:default project_id=150017 project_image_fid=374053]

"We're seeing a clear move toward developments that offer more than just an apartment," Sherpa Group founder Christie Leet said.

"People want spaces that support how they actually live, whether that's working from home, staying active, or spending time with family and friends.

"That's where amenity becomes critical. It's not just about what's included, but how those spaces are designed to be used every day."

[smartcode_project:default project_id=150017 project_image_fid=374052]

The breadth of amenity has already attracted buyers across multiple demographics. Younger first home buyers have been drawn to Soleira's one-bedroom apartments, a product rarely delivered in Palm Beach, while families have responded to practical inclusions such as the shallow children's pool adjoining the main lap pool and the extensive communal recreation areas.

Instead of a single rooftop, Soleira delivers two distinct lifestyle zones.

[smartcode_project:default project_id=150017 project_image_fid=372547]

The southern rooftop has been dedicated to wellness, featuring a gym, yoga and Pilates studio, work-from-home facilities, a wellness centre, spa, and hot and cold plunge pools.

The northern rooftop focuses on recreation and entertaining, incorporating a heated resort-style pool, private dining rooms, pizza ovens, barbecues, a golf simulator, children's recreation areas, and what is expected to be the Gold Coast's first rooftop basketball court, which will also double as a squash court.

[smartcode_project:default project_id=150017 project_image_fid=374054]

Beyond the rooftops, Soleira will introduce 1,500 sqm of curated retail beneath the towers, creating one of Palm Beach's first genuinely mixed-use lifestyle precincts where cafés, restaurants and convenience retail become part of residents' everyday lives.

Sherpa has also retained management rights across the development, allowing it to oversee the long-term operation of the building through a 24-hour concierge model. The developer is also exploring additional revenue streams within the precinct aimed at helping offset ongoing body corporate costs for residents.

[smartcode_project:default project_id=150017 project_image_fid=370962]

While Soleira is the largest project Sherpa has delivered, the rooftop-first philosophy has been evolving for several years.

It began with <a href="https://www.apartments.com.au/new-apartments/amargo-6-12-sixth-avenue-palm-beach-qld-4221">Flourish Amargo</a>, the first project released under the Flourish brand. Rather than competing at the ultra-luxury end of the market with oversized half-floor and full-floor residences, Sherpa focused on creating lifestyle-driven apartments supported by resort-style shared spaces.

Amargo introduced more than 800 sqm of rooftop amenity, combining wellness facilities, heated pools, entertaining areas, cabanas, pizza ovens and private dining spaces into what was designed as an extension of residents' homes rather than a facility used only occasionally.

[smartcode_project:default project_id=146527 project_image_fid=366550]

That approach continued with Flourish Oasis, where the same amenity-led philosophy was refined into a more boutique development. Strong demand from Sherpa's growing VIP database saw much of the project sold before it reached the broader market, reinforcing buyer appetite for apartment communities centred around shared lifestyle experiences.

Flourish Amargo is slated for completion mid-way-through next year, with Oasis to be delivered by late 2027. Flourish Soleira is expected to complete in 2030.

[smartcode_project_cta:default project_id=150017]

Sherpa takes amenity to the sky as Flourish Soleira captures booming Palm Beach demand

As apartment living continues to evolve across Sydney's growth corridors, the quality and distribution of shared spaces is increasingly shaping how residents experience home. Rather than functioning as add-ons, amenities are being embedded into the daily rhythm of a building, supporting everything from quiet retreat to social interaction, often within a single vertical community.

At <a href="https://www.apartments.com.au/new-apartments/aeris-melrose-park-nursery-street-melrose-park-nsw-2114">Aeris</a> in Melrose Park, this approach is resolved through a layered amenity offering that unfolds from ground level through to its upper podium. Developed by <a href="https://www.apartments.com.au/developers/sekisui-house-australia">Sekisui House Australia</a> in partnership with Hankyu Hanshin Properties, the project introduces 468 apartments across two towers and a mid-rise building, positioned at the highest point of the broader masterplan.

[smartcode_project:default project_id=426 project_image_fid=359199]

The amenity experience begins at street level, where two courtyards sit within a landscaped setting that connects residents to the wider network of parks and green spaces. These green spaces are not isolated pockets but part of a wider pedestrian network that links Aeris to the surrounding <a href="https://www.apartments.com.au/developments/melrose-park-nsw-2114">Melrose Park</a> precinct, including Central Park, future schools, and the Town Centre opening in July 2026. The result is a transition that moves from public to private without abrupt boundaries, allowing residents to pass through shaded, tree-lined environments before reaching the building itself.

Moving upward, the focus shifts to the level five podium, where the primary communal facilities are concentrated. This space brings together a 16-metre swimming pool, outdoor seating areas, and a communal BBQ zone arranged to take advantage of elevated outlooks. Seating is positioned beneath pergolas, creating pockets of shade that extend the usability of the space throughout the day. The pool edge aligns with views toward the wider district, reinforcing the sense of elevation that defines the project’s positioning.

In the adjacent building, this is complemented by quieter, more contemplative spaces, including an outdoor cinema set within the same level. Positioned to operate primarily in the evening, it introduces a different tempo to the shared environment, shifting from daytime activity to after-hours use without requiring separate zones.

[smartcode_project:default project_id=426 project_image_fid=360299]

The podium also accommodates an intimate private resident gym. Located on the lower levels, it gives residents convenient access to fitness facilities without leaving the building.

Above, the elevated podium sky deck extends the amenity offering, providing additional open-air spaces with elevated outlooks across the surrounding landscape. While more restrained in program, this upper level reinforces the project’s vertical progression, from ground-level greenery to elevated outlook, allowing residents to move between distinct spatial conditions within a single address.

This distribution of amenities reflects a deliberate response to how residents use space across the day. Sekisui House Australia Sales and Marketing Director Peter Kalaf points to the role these shared areas play in shaping buyer demand. Aeris has been conceived as more than a collection of apartments, with the podium pool, gym and outdoor cinema forming part of a broader lifestyle offering that extends the home beyond each individual residence.

[smartcode_project:default project_id=426 project_image_fid=360300]

What distinguishes Aeris is not the inclusion of these elements individually, but how they are arranged in relation to one another. Active, social, and passive spaces are layered vertically rather than separated, allowing residents to choose between them without leaving the building or moving far from their apartment. This proximity supports both routine use, such as a morning swim or evening workout, and more occasional gatherings, whether around the BBQ area or within the cinema setting.

The amenity design also sits within a broader framework of connectivity across Melrose Park. The Melrose Park Town Centre, anchored by Coles and Dan Murphys, features a mix of retail, dining, health and lifestyle offerings, bringing everyday convenience closer to residents. By the end of the year, more than five hectares of parks and open space, equivalent to around seven football fields of green space on residents' doorstep, will further enhance the precinct, allowing the internal facilities at Aeris to operate as an extension of the wider neighbourhood rather than a substitute for it.

Construction at Aeris continues to gather momentum, with ground floor slabs expected to be completed in late 2026 before the first sections of the buildings begin to rise above ground.

[smartcode_project_cta:default project_id=426]

Elevated amenity anchors daily life at Aeris, Melrose Park

Rental market

<html><body>
Rental prices across Australia’s capital cities largely remained flat over the September quarter with Brisbane the only city to record growth in median unit rents.
Sydney and Hobart reported a decline in unit rents, according to <a href="https://www.domain.com.au/group/agent-news/domains-rental-report-june-2018/" target="_blank">Domain’s Quarterly Rental Report</a>.
Hobart was the standout performer over the year, reporting the highest annual rent growth for houses and units, followed by Canberra.
House rental yields improved annually in Sydney, Perth and Canberra.
Unit rental yields improved annually in all capital cities but Hobart.
"Availability of rental stock, investor activity and migration flows have created varied markets across the country. Looking just at the September quarter, house rents remained flat in every capital city," said Domain Senior Research Analyst, Dr Nicola Powell.
"While annually, growth has slowed relative to the year prior, primarily driven by stalling Sydney and Melbourne markets.
"Hobart continued to outperform other Australian capital cities, recording double digit annual rental growth for houses and strong growth for units. Canberra also saw substantial growth, with house and unit rents increasing 8.4% and 7.1% respectively. This growth has meant Canberra house rentals are now as expensive as Sydney. 
"While unit rents in Sydney have started to decline, house rents remained at an all time high. However, if market conditions continue with increased supply, we could however see some relief for tenants."
<a href="https://www.propertyobserver.com.au/images/2018/10/10/DOMIAN%20NATIONAL%201.jpg" target="_blank">Click here to enlarge:</a>
<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/DOMIAN%20NATIONAL%201.jpg" alt="">
Sydney median unit rents declined over the quarter and year, as rental supply hit an all time high. 
Melbourne house and unit rental prices held steady for the quarter, slowing the pace of annual growth to an almost four-year low for houses and three-year low for units. 
Brisbane was the only capital city that had unit rents increase over the quarter and year, while median house rents remained flat. 
Canberra house rents remained on par with Sydney, making the two cities the most expensive for tenants. House and unit rents experienced the second strongest annual growth of all capital cities. Unit gross yields reached a record high. 
Hobart was the strongest performing capital city, with a 10.8% annual increase in house rents and 9.4% increase in unit rents. 
Perth house and unit rents experienced no change over the year. This was the first time in almost five years house rents did not decline annually. Unit rents have now remained flat for a year and a half. 
Perth remained the most affordable city to rent a house, and shares the title with Adelaide for the most affordable unit rents. 
Adelaide house and unit rents remained flat for the quarter but continued to record annual growth.  
<a href="https://www.propertyobserver.com.au/images/2018/10/10/DOMIAN%20NATIONAL%203.jpg" target="_blank">Click here to enlarge:</a>
<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/DOMIAN%20NATIONAL%203.jpg" alt=""> Rental Yields Rental yields have increased nationally by 0.4% over the past 12 months to 3.76% for houses. Units also increased 1.5% over the year to 4.29%. For investors, Hobart continued to provide the best gross rental yield for houses at 4.94%, and Darwin and Canberra provided the highest gross rental yields for units at 6.08% and 5.95% respectively.
Sydney and Melbourne continued to record the lowest gross rental yields for houses and units, although have begun to improve given the softer sales market.
<a href="https://www.propertyobserver.com.au/images/2018/10/10/DOMIAN%20NATIONAL%202.jpg" target="_blank">Click here to enlarge:</a>
<a href="https://www.propertyobserver.com.au/images/2018/10/10/DOMIAN%20NATIONAL%202.jpg" target="_blank"><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/DOMIAN%20NATIONAL%202.jpg" alt=""></a>
<a href="https://www.propertyobserver.com.au/images/2018/10/10/DOMIAN%20NATIONAL%204.jpg" target="_blank">Click here to enlarge:</a>
<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/DOMIAN%20NATIONAL%204.jpg" alt="">
</body></html>

j.ballantyne1990-6AQqhLzZaK

Brisbane only capital with quarterly rise in unit rents: Domain

<html><body>
Private renters, particularly older and low-income households, say uncertainty over their leases and affordability pressures are a major issue in the private rental sector, according to a report released by the Bankwest Curtin Economics Centre (BCEC).
Associate Professor Steven Rowley, from the School of Economics, Finance and Property at Curtin University and author of the one of the reports, said the Australian private rental sector appeared to be delivering quality and affordable housing for most renters, but was failing those on low incomes.
The report also found that for Australians aged 55 and over, 63% are paying more than 30% of their income on rent. 
However some positives were found with dwelling quality generally perceived as good, the relationship between the landlord and tenant often excellent and "strong feelings of home" in the sector.
Of the single parents surveyed, 36% felt they suffered discrimination when applying for a new rental property often having to apply for multiple rental properties before being successful.
"This same group was overwhelmingly the least likely to feel comfortable in their home once they found rental housing,” Rowley said.
These findings are in line with a second report also launched by the BCEC, which found older Australians reported facing a lack of tenure security despite 41% looking to sign long term leases and another 23% open to a lease extension if it was available.
That report which centered on assisting older WA renters was authored by Associate Professor Helen Hodgson, from the Curtin Law School.
“Our research found many older renters have only been in their current home for up to three years with 41% of older Australian renters forced to leave their previous rental property due to factors beyond their control,” Hodgson said. 
“This insecurity is exacerbated by a lack of affordable, and suitable, housing options for older renters, coupled with an inadequacy of the aged pension and Commonwealth Rent Assistance payments.”
</body></html>

Rental uncertainty and affordability troubling Australian renters

<html><body>
The Perth market is showing signs of improvement, says REIWA.
The vacancy rate has dipped to 4.5% - the lowest since April 2015, says REIWA President Hayden Groves.
“What we are seeing is a steady yet healthy improvement in tenant activity,” Groves said.
“Steady rents, easing supply as listings for rent continue to fall and stronger demand with more leasing activity all point to the rental market leading Perth’s property market recovery.”
REIWA’s data also shows that leasing activity is up 17% in August, while the media rent remained steady for the 17th consecutive month at $350 per week.
Groves said that the rental market across the city is stabilising, while he suburbs of Leederville, Glendalough and Secret Harbour experienced the most significant growth in leasing activity during August.
“Leederville had more than double the amount of properties leased from July to August, with the volumes increasing by an impressive 18%,” Groves said.
“Typically, as we move into these warmer spring months, the property market should see an overall uplift in activity, and historically the sales market follows the rental market during a recovery.”
</body></html>

Perth rental market improves in August: REIWA

<html><body>
The typical Australian landlord is an owner occupier, at midlife, in a household with two incomes.
Some 72% own just the one rental property.
They don't see themselves as landlords, but rather investors.
Estate agents manage around 75% of these rental properties, an unusually prominent role compared to overseas practice.
The shift from finding rentals in agency office windows has long shifted online and now new technological innovations are being slowly embraced by agents, given raised demands from tenants and some landlords too.
These digital platforms are offering efficient ways at dealing with tenants. 
The Property Connect website offers the means for online move-in dates, lease terms, and even seek competitive rental pricing through LiveOffer. 
The Trustbond website seeks to replace the cash rental bond with a surety certificate. 
Other tech enabling advancements address scheduling property inspections, collecting rents and and organising repairs. 
There's the prospect of tenants across Australia getting their own online profile promoting their worthiness to landlords.
These days tenants are renting for longer periods with around a third of private renters staying in the rental market for a decade or longer.
Recent research has the market demographics changing quite significantly.
Traditionally it was transitional housing tenure for young people in the time between leaving the family home and becoming home owners, but now the market has moved to catering for many more private renters at mid-life. There are more private renters with children.
There has been an increase in both lower and higher income households seeking out the private rental market.
Interestingly, about one in eight landlords are themselves a private renter.
A new report from the Australian Housing and Urban Research Institute noted the biggest change in landlord ownership was in the financing with owners of rental properties relying more heavily on debt.
This affirms the ultimate purpose of landlords is their financial returns. 
These are currently being challenged, so it will be interesting to see if the landlords stay as dwelling values fall and gross rental yields sit close to historic lows.
CoreLogic has tracked rents for over a decade and the latest 0.4% annual fall in Sydney rents for the year to August was the largest decline on record.
Gross rental yields remain low in Sydney at 3.21%.
The total returns from residential housing are not looking "so attractive", CoreLogic research analyst Cameron Kusher recently noted.
Across the capital cities, total returns are at 0.8%, with total returns in Sydney actually falling by 2.5% in the weakest result since 2009.
After dwelling values fell in Sydney over the past year, it highlights that capital growth largely dictate total investor returns in Sydney. 
Kusher suggests given the decline in returns and an expectation that returns will continue to shrink, investors could seek out housing in other regions of the country where total returns remain positive.
It sits at 6.6% for the combined regional markets across Australia and 6.7% for total returns in regional NSW.
But Kusher warns these returns are anticipated to be far inferior to those recorded over recent times in Sydney.
This article first appeared in The Daily Telegraph. 
</body></html>

jchancellor-FAypfDUnLy

Lower and higher income households seeking out private rental market

<html><body>
Hobart has seen the highest annual growth in median weekly house rental prices with a 13.9% increase to $410 per week, despite a decline over the quarter of 2.4%, according to the latest report from Domain.com.au.
Unit rents increased in Hobart to $360 per week, a 2.9% quarterly jump and a 12.5% annual increase, recording the highest increase both quarterly and annually across all capital cities. Domain data analyst, Nicola Powell says that annual house rents continue to rise with 2018 providing the strongest surge in rental prices in the city’s history.
"Although Hobart did see a decline over the quarter, it is likely to be a pullback from the seasonally strong first three months of the year," Powell said.  "In under two years, Hobart has moved from being one of the most affordable capital cities in Australia for tenants to now trailing behind Perth, Adelaide and Brisbane.
"Unit rental prices have followed a similar pattern remaining more expensive than Adelaide and Perth, as well as closing the price gap on Brisbane. "These conditions are indicative of the current affordability issues facing Hobart. While supply continues to deplete, the substantial declines in rental listings appear to have eased. As investor activity picks up, we’ve started to see a slight improvement to the deterioration previously seen in listing volumes."
<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/2018/7/17/hobart.jpg" alt="">
</body></html>

This quarter saw Hobart's "strongest surge in rental prices in the city’s history": Domain

<html><body>
<div>The Queensland rental market has tightened over the year to June 2018.</div>
<div> </div>
<div>The latest quarter reported 24 tight markets, up from 19 tight markets in the March quarter according to the latest report from REIQ.</div>
<div> </div>
<div>Brisbane LGA ’s rental market moved from the healthy range, with vacancies of 3.1 per cent in March, to the tight range, with 2.3 per cent in June 2018.  However, this market is being described by local agents as patchy, with tenants favouring certain pockets over others.</div>
<div>
 The rental markets in Greater Brisbane, including the outer Brisbane regions of Ipswich, Logan, Moreton Bay and Redland, are tight with vacancies in the range of 1.2 per cent to 2.5 per cent.</div>
<div>
 The historically tight markets of the Sunshine and Gold coasts have loosened this quarter, however, they have for the most part remained within the tight range.</div>
<div>
 The Fraser Coast rental market tightened more than 1 percentage point, from 1.9 per cent to 0.8 per cent.  Regional Queensland continued strengthening this quarter, with Toowoomba, Mackay, Bundaberg, and Rockhampton operating within the tight or healthy range.</div>
<div> </div>
<div>Greater Brisbane’s vacancy rates tightened to 2.2 per cent, sitting within the tight range for the first time in nearly three years.</div>
<div>
 The tightest of all markets in Queensland is South Burnett, where vacancies were recorded at 0.5 per cent.</div>
<div> </div>
<div>The tightest major centre rental market is Maryborough, with 0.7 per cent vacancy rate (a tightening of 1.8 per cent) from 2.5 per cent in the March quarter.</div>
<div> </div>
<div>Cassowary Coast is the weakest rental market in Queensland. This market is historically weak but 5.9 per cent is an improvement on recent levels which included 11.5 per cent in December 2017.</div>
<div> </div>
<div>The second weakest major centre market is Townsville at 4 per cent vacancy rate however in March 2017 the Townsville vacancy rate was 6.2 per cent.</div>
</body></html>

Brisbane patchy, as REIQ reports the increasing tightness of rental markets

<html><body>
The Sydney rental market has recorded the highest vacancy rate in at least 13 years according to SQM Research with 19,500 landlords seeking tenants.
Sydney’s rental vacancy rate rose to 2.8% in June with an estimated 19,572 residential rental dwellings sitting vacant and available for rent.
The vacancy rate rose from 2.5% recorded in May and 2% recorded in June 2017.
The 2.8% is the highest rental vacancy rate since at least 2005 when SQM Research commenced record keeping of rental listings. 
Nationally, the residential rental vacancy rate rose to 2.3% in June (from 2.1% recorded in May) with the number of vacancies Australia-wide now sitting at 75,757 properties.
Most cities recorded a rise with Melbourne rising to 1.6%, Brisbane to 3.0%, Canberra to 0.9% and Adelaide rising to 1.5%. Rental vacancies remained steady in Perth (4.1%), Darwin (3.5%) and Hobart (0.7%)
It should be noted that there tends to be a seasonal rise in rental vacancies for the major capital cities during the month of June. However it is SQM’s view that the rise recorded in Sydney goes beyond seasonal factors.  
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td valign="bottom" width="12%">
City
</td>
<td valign="bottom" width="13%">
June 2017 Vacancies
</td>
<td valign="bottom" width="14%">
Vacancy Rate
</td>
<td valign="bottom" width="15%">
May 2018 Vacancies
</td>
<td valign="bottom" width="14%">
Vacancy Rate
</td>
<td valign="bottom" width="15%">
June 2018 Vacancies
</td>
<td valign="bottom" width="14%">
Vacancy Rate
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Adelaide
</td>
<td valign="bottom" nowrap width="13%">
3,251
</td>
<td valign="bottom" nowrap width="14%">
1.8%
</td>
<td valign="bottom" nowrap width="15%">
2,468
</td>
<td valign="bottom" nowrap width="14%">
1.3%
</td>
<td valign="bottom" nowrap width="15%">
2,726
</td>
<td valign="bottom" nowrap width="14%">
1.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Perth
</td>
<td valign="bottom" nowrap width="13%">
10,638
</td>
<td valign="bottom" nowrap width="14%">
5.4%
</td>
<td valign="bottom" nowrap width="15%">
8,235
</td>
<td valign="bottom" nowrap width="14%">
4.1%
</td>
<td valign="bottom" nowrap width="15%">
8,426
</td>
<td valign="bottom" nowrap width="14%">
4.1%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Melbourne
</td>
<td valign="bottom" nowrap width="13%">
8,754
</td>
<td valign="bottom" nowrap width="14%">
1.6%
</td>
<td valign="bottom" nowrap width="15%">
7,676
</td>
<td valign="bottom" nowrap width="14%">
1.4%
</td>
<td valign="bottom" nowrap width="15%">
9,035
</td>
<td valign="bottom" nowrap width="14%">
1.6%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Brisbane
</td>
<td valign="bottom" nowrap width="13%">
11,497
</td>
<td valign="bottom" nowrap width="14%">
3.6%
</td>
<td valign="bottom" nowrap width="15%">
9,331
</td>
<td valign="bottom" nowrap width="14%">
2.9%
</td>
<td valign="bottom" nowrap width="15%">
9,886
</td>
<td valign="bottom" nowrap width="14%">
3.0%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Canberra
</td>
<td valign="bottom" nowrap width="13%">
731
</td>
<td valign="bottom" nowrap width="14%">
1.2%
</td>
<td valign="bottom" nowrap width="15%">
498
</td>
<td valign="bottom" nowrap width="14%">
0.8%
</td>
<td valign="bottom" nowrap width="15%">
565
</td>
<td valign="bottom" nowrap width="14%">
0.9%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Sydney
</td>
<td valign="bottom" nowrap width="13%">
13,215
</td>
<td valign="bottom" nowrap width="14%">
2.0%
</td>
<td valign="bottom" nowrap width="15%">
17,164
</td>
<td valign="bottom" nowrap width="14%">
2.5%
</td>
<td valign="bottom" nowrap width="15%">
19,572
</td>
<td valign="bottom" nowrap width="14%">
2.8%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Darwin
</td>
<td valign="bottom" nowrap width="13%">
961
</td>
<td valign="bottom" nowrap width="14%">
3.3%
</td>
<td valign="bottom" nowrap width="15%">
1,051
</td>
<td valign="bottom" nowrap width="14%">
3.5%
</td>
<td valign="bottom" nowrap width="15%">
1,062
</td>
<td valign="bottom" nowrap width="14%">
3.5%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
Hobart
</td>
<td valign="bottom" nowrap width="13%">
190
</td>
<td valign="bottom" nowrap width="14%">
0.7%
</td>
<td valign="bottom" nowrap width="15%">
211
</td>
<td valign="bottom" nowrap width="14%">
0.7%
</td>
<td valign="bottom" nowrap width="15%">
221
</td>
<td valign="bottom" nowrap width="14%">
0.7%
</td>
</tr>
<tr>
<td valign="bottom" nowrap width="12%">
National
</td>
<td valign="bottom" nowrap width="13%">
78,314
</td>
<td valign="bottom" nowrap width="14%">
2.5%
</td>
<td valign="bottom" nowrap width="15%">
69,152
</td>
<td valign="bottom" nowrap width="14%">
2.1%
</td>
<td valign="bottom" nowrap width="15%">
75,757
</td>
<td valign="bottom" nowrap width="14%">
2.3%
</td>
</tr>
</tbody></table>
 
SQM’s calculations of vacancies are based on online rental listings that have been advertised for three weeks or more compared to the total number of established rental properties.
SQM considers this to be a superior methodology compared to using a potentially incomplete sample of agency surveys or merely relying on raw online listings advertised.  
Capital city asking rents for houses fell over the month to 12 July 2018 by 0.4% to $549 a week. Unit asking rents remain steady at $444 a week. Over the year, asking house rents rose just 0.5%, while unit asking rents rose modestly by 0.9%.
While the asking rent for a three-bedroom house in Sydney remains the highest in the nation at $709 a week, rents fell 0.8% over the month to 12 July, with the upward trend in the vacancy rate easing pricing pressures. Asking unit rents in Sydney now stand at $522 a week, down by 0.2% over the month. Sydney was the only city to record falls in rents for the year with rents for houses down by 2.2% and units down by 0.1%
Canberra also recorded monthly falls in rents for both houses (0.1%) and units (2.5%) however rents are well up by 13% over the past 12 months for houses. Melbourne’s house rents fell by 1.3% for the month but unit rents rose marginally by 0.1%.
Brisbane, Darwin, Adelaide and Perth house rents continue to register small increases in the past 30 days.  However, rents for units in Adelaide fell by 0.2%, making it the cheapest capital city to rent a unit at $299.60 a week.  Adelaide is also the cheapest capital city to rent a house, with the asking rent sitting at $383.10 a week, although there is an increase of 0.9% for June.
<table border="1" cellspacing="0" cellpadding="0"><tbody>
<tr>
<td colspan="6" valign="top" width="100%">
SQM Research Weekly Rents Index
</td>
</tr>
<tr>
<td colspan="2" width="39%">
Week ending - 12 Jul 2018
</td>
<td width="10%">
Rent
</td>
<td width="16%">
Change on previous week
</td>
<td width="16%">
Rolling month % change
</td>
<td width="17%">
12 month % change
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Canberra
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
630.7
</td>
<td valign="top" nowrap width="16%">
-2.7  
</td>
<td valign="top" nowrap width="16%">
-0.1%  
</td>
<td valign="top" nowrap width="17%">
13.0%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
439.6
</td>
<td valign="top" nowrap width="16%">
-1.6  
</td>
<td valign="top" nowrap width="16%">
-2.5%  
</td>
<td valign="top" nowrap width="17%">
6.6%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Sydney
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
709.2
</td>
<td valign="top" nowrap width="16%">
-0.2  
</td>
<td valign="top" nowrap width="16%">
-0.8%  
</td>
<td valign="top" nowrap width="17%">
-2.2%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
521.7
</td>
<td valign="top" nowrap width="16%">
-0.7  
</td>
<td valign="top" nowrap width="16%">
-0.2%  
</td>
<td valign="top" nowrap width="17%">
-0.1%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Darwin
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
540.9
</td>
<td valign="top" nowrap width="16%">
0.1  
</td>
<td valign="top" nowrap width="16%">
0.4%  
</td>
<td valign="top" nowrap width="17%">
5.8%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
405.0
</td>
<td valign="top" nowrap width="16%">
0.0  
</td>
<td valign="top" nowrap width="16%">
0.5%  
</td>
<td valign="top" nowrap width="17%">
1.9%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Brisbane
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
451.9
</td>
<td valign="top" nowrap width="16%">
0.1  
</td>
<td valign="top" nowrap width="16%">
0.5%  
</td>
<td valign="top" nowrap width="17%">
2.0%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
370.4
</td>
<td valign="top" nowrap width="16%">
0.6  
</td>
<td valign="top" nowrap width="16%">
0.3%  
</td>
<td valign="top" nowrap width="17%">
0.8%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Adelaide
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
383.1
</td>
<td valign="top" nowrap width="16%">
0.9  
</td>
<td valign="top" nowrap width="16%">
0.9%  
</td>
<td valign="top" nowrap width="17%">
2.1%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
299.6
</td>
<td valign="top" nowrap width="16%">
-0.6  
</td>
<td valign="top" nowrap width="16%">
-0.2%  
</td>
<td valign="top" nowrap width="17%">
3.5%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Hobart
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
398.6
</td>
<td valign="top" nowrap width="16%">
-0.6  
</td>
<td valign="top" nowrap width="16%">
-0.3%  
</td>
<td valign="top" nowrap width="17%">
8.5%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
347.3
</td>
<td valign="top" nowrap width="16%">
-0.3  
</td>
<td valign="top" nowrap width="16%">
-0.9%  
</td>
<td valign="top" nowrap width="17%">
10.4%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Melbourne
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
522.6
</td>
<td valign="top" nowrap width="16%">
-0.6  
</td>
<td valign="top" nowrap width="16%">
-1.3%  
</td>
<td valign="top" nowrap width="17%">
2.2%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
411.8
</td>
<td valign="top" nowrap width="16%">
0.2  
</td>
<td valign="top" nowrap width="16%">
0.1%  
</td>
<td valign="top" nowrap width="17%">
2.6%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Perth
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
424.5
</td>
<td valign="top" nowrap width="16%">
0.5  
</td>
<td valign="top" nowrap width="16%">
0.8%  
</td>
<td valign="top" nowrap width="17%">
0.2%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
326.1
</td>
<td valign="top" nowrap width="16%">
0.9  
</td>
<td valign="top" nowrap width="16%">
0.5%  
</td>
<td valign="top" nowrap width="17%">
-0.4%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
National
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
432.0
</td>
<td valign="top" nowrap width="16%">
-1.0  
</td>
<td valign="top" nowrap width="16%">
-0.5%  
</td>
<td valign="top" nowrap width="17%">
1.2%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
355.0
</td>
<td valign="top" nowrap width="16%">
1.0  
</td>
<td valign="top" nowrap width="16%">
-1.1%  
</td>
<td valign="top" nowrap width="17%">
1.7%  
</td>
</tr>
<tr>
<td rowspan="2" valign="top" width="24%">
Cap City Average
</td>
<td valign="top" nowrap width="14%">
All Houses
</td>
<td valign="top" nowrap width="10%">
549.0
</td>
<td valign="top" nowrap width="16%">
1.0  
</td>
<td valign="top" nowrap width="16%">
-0.4%  
</td>
<td valign="top" nowrap width="17%">
0.5%  
</td>
</tr>
<tr>
<td valign="top" nowrap width="14%">
All Units
</td>
<td valign="top" nowrap width="10%">
444.0
</td>
<td valign="top" nowrap width="16%">
0.0
</td>
<td valign="top" nowrap width="16%">
0.0%
</td>
<td valign="top" nowrap width="17%">
0.9%  
</td>
</tr>
</tbody></table>
 
 
</body></html>

SQM calculates highest ever number of Sydney landlords without tenants

<html><body>
The Sydney rental market has slowed, according to research from the Real Estate Institute of New South Wales.
REINSW Deputy President Brett Hunter said the June 2018 REINSW Vacancy Rate Survey saw a general increase in vacancy rates across the Sydney metropolitan area.
“The Sydney vacancy rate rose 0.3 percentage points with rises of 0.4 percentage points in both Inner and Middle Sydney at 3 per cent and 2.8 per cent respectively, while Outer Sydney remained steady at 2.4 per cent. 
“Agents reported fewer enquiries coming through due to the approach of the winter season,” Mr Hunter said. 
 “An oversupply of apartments is also affecting Middle Sydney.” 
In the Hunter, vacancy rates rose 0.3 percentage points to 1.9 per cent, led by Newcastle which rebounded 0.5 percentage points to 2.4 per cent. The Illawarra gained 0.1 percentage points to 2.5 per cent with Wollongong increasing 0.2 percentage points to 2.3 per cent.  Across regional areas, the Central Coast fell 0.1 percentage points at 2 per cent, Northern Rivers added 0.2 percentage points to 1.5 per cent and New England gained 0.4 percentage points to 2.3 per cent. 
 
</body></html>

Sydney rental market slows as oversupply of apartments affecting Middle Sydney: REINSW

<html><body>
Renters want stability and security of tenure for the same reasons property owners do. 
They seek a stable location that enables the household to stay connected with their family, friends, schools, jobs and community. 
Moving frequently is also inconvenient and expensive, so the ongoing threat of not having leases renewed leaves renters, especially low-income renters, vulnerable. 
There is now a new concept that aims to alleviate some of the issues. 
Build to rent is where investors build multi-unit buildings and, instead of selling the units, they are retained to rent. 
Build to rent is well established in the UK and USA, but never really taken up in Australia by large scale investors.
Indeed rental housing supply has been primarily come from individuals rather than or large investors or even government in Australia. It's been mostly left to mum and dad investors. 
There have been very few large scale investors with the capacity or preparedness to take it on. Certainly Harry Triguboff leads the way given the many apartments he has kept in his private portfolio. While such apartment developments increase rental supply, they do not target lower income households. 
Unlike many European countries where public/social housing is a major component of the housing profile, social housing has never exceeded more than six percent of Australia’s housing stock. 
An Australian Housing and Urban Research Institute study indicated big Australian investor institutions had no experience of large scale investment in rental housing in to judge Australian outcomes. Untried investment niches normally require a pioneering investor and a novelty premium on the rate of return. 
The recent announcement by NSW Minister for Social Housing, Pru Goward of a project in Redfern provides such a positive start towards the aim of providing a more diverse supply of housing for Sydney. The site will accommodate social, affordable and market rental housing on land provided by the NSW government.
The government to retain the land while investors, in partnership with community housing providers will fund, build and manage the site under a 40 year lease.
The Elizabeth Street site, which includes the Police Citizens Youth Club premises, will be exempt from land tax. It’s expected 500 dwellings will be built with 30 per cent earmarked for affordable housing.
The Property Council NSW executive director Jane Fitzgerald said the government has put its money where its mouth is. “They’re not only giving the land but also giving a full land tax exemption for the project which should really make a difference for making the financials stack up,” Ms Fitzgerald said.
One of the key reasons for Australia's slow embrace has been the perceived low returns. High property management costs are another barrier, coupled by the illiquidity that comes with all property assets.   
There also remains a perceived high risk, of public policy changes. Unlike commercial property, the current GST rules won't help the roll out of build-to-rent.
That's something for Treasurer Scott Morrison to address. The shadow treasurer Chris Bowen has sought a parliamentary review as it "would be a shame to see this sector get killed by policy."
This article first appeared in The Daily Telegraph.
</body></html>

NSW State Government backed build to rent will offer renters stability

<html><body>
Perth’s rental market produced mixed results in the June 2018 quarter, with stable dwelling rents, subdued leasing activity, declining listings and faster leasing times, according to the latest REIWA.com.au rental report.
REIWA President Hayden Groves said the June quarter’s mixed results were not unusual given Perth’s rental market was in a transitional phase and “although the worst of the downturn appears to be behind us, it’s not uncommon to see results fluctuate as the market transitions into a recovery". 
“The change in seasons has also contributed to this quarter’s results, with the cooler weather impacting activity levels.
"We tend to see activity slow during the winter months before picking up again in spring."
Median rent prices Perth’s overall median rent price remained stable in the June quarter, holding at $350 per week for a fifth consecutive quarter.
"After experiencing prolonged periods of freefalling rent prices, the stability we’ve observed over the last 12 months is a welcome change and should provide landlords with confidence,” Groves said.
Although Perth’s overall rent was stable, reiwa.com analysis shows 102 suburbs across the metro area did experience median rent price growth.
The five best performing suburbs for rent price growth in the June quarter were Attadale (up 75.8% to $580 per week), Jolimont (up 50.9% to $423 per week), Burswood (up 33.3% to $480 per week), Booragoon (up 28.4% to $475 per week) and Hamersley (up 28.4% to $430 per week).
Other top performing suburbs were Karawara, North Fremantle, Mount Nasura, Mount Claremont and Hillarys.
In terms of leasing activity 12,633 total properties were leased during the June 2018 quarter.
Leasing activity has declined 10.4% over the June quarter and is down 4.1% compared to the June 2017 quarter.
Population figures for WA shows migration into the state has declined by five%, which has likely influenced leasing activity levels in Perth.
"After 12 months of stable rent prices, lower activity levels suggest tenants are feeling confident rental prices have found a floor and therefore more inclined to stay put,” Groves said.
Despite the overall reduction in leasing activity, reiwa.com data shows there were 71 suburbs across the metro area which saw leasing activity improve.
The five suburbs which saw the biggest improvement in activity were Brookdale (up 88.9%), Ocean Reef (up 75%), Kallaroo (up 63.6%), Parmelia (up 48.3%) and Hamersley (up 46.2%).
There were 8,293 properties listed as for rent in Perth at the end of the June 2018 quarter.
Groves said this figure was 2.5% lower than the March 2018 quarter figure and 22.9% lower than the June 2017 quarter meaning rental listings in the metro area have declined significantly over the last 12 months, with far fewer properties available for rent this year compared to last.
"A key driver for this improvement is the slowdown of new dwelling commencements, with less new properties coming onto the market, existing rental stock is being soaked up faster, putting downward pressure on listing volumes,” Groves said.
The average leasing time for the last quarter was on average 46 days to find a tenant, which is two days faster than the March quarter and six days faster than this time last year.
Groves concluded that: “Although leasing activity softened during the June quarter, activity levels remain above long term averages.
"This, combined with rapidly decreasing listings means tenants are needing to act faster to secure a rental property.”
</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