<p data-end="1587" data-start="1236">The Victorian Government has secured the passage of the Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026, introducing a suite of reforms aimed at improving consumer protection and confidence in the apartment market.</p>

<p data-end="1587" data-start="1236">Resilience Insurance, Australia’s leading Latent Defects Insurance (LDI) provider, has welcomed the move.</p>

<p>The LDI elements of the Bill passed with bipartisan support and now moves to the Legislative Council where debate and passage are expected later this month. It represents a significant milestone in the national shift toward stronger, longer-term protection for apartment buyers.&nbsp;</p>

<p>The reform would deliver practical benefits across the housing system. Apartment owners will have stronger protection if major defects emerge, developers and builders will have a clearer quality framework to work within, and the State will reduce the risk of serious building failures becoming a long-term financial and social burden for households, communities and government.&nbsp;</p>

<p>LDI helps support apartment delivery while providing stronger protection for buyers and encouraging better construction outcomes.&nbsp;</p>

<p>Resilience LDI provides apartment owners with 10 years of insurance-backed cover for major structural defects from completion, with direct claim access to the insurer. This means owners are not required to first pursue developers or builders through costly legal action before accessing protection.&nbsp;</p>

<p>Resilience Insurance has been operating in Australia since 2022 and has already insured hundreds of development projects covering many thousands of apartments across Australia.&nbsp;</p>

<p>At approximately 1.8 per cent of build cost, it is a cost-competitive alternative to the traditional two per cent Strata Bond, bond while delivering significantly broader and longer protection.&nbsp;</p>

<p>“The Victorian Lower House vote shows that reforms like this succeed when they are practical, evidence-based and supported by industry," says Corey Nugent, CEO of Resilience Insurance.</p>

<p>"Victoria is moving quickly on a reform that will make a real difference for apartment buyers, while supporting better building outcomes and greater confidence in apartment delivery.</p>

<p>“This is step one. We look forward to the Bill completing its passage through the Legislative Council and to working with government and industry to implement the framework effectively.”&nbsp;</p>

<p>Fast Facts: What is Resilience LDI?&nbsp;</p>

<ul>
	<li>Resilience Latent Defects Insurance (LDI): Covers major structural defects for 10 years from completion.&nbsp;</li>
	<li>Consumer-first: Direct claim access, no need for lengthy legal action.&nbsp;</li>
	<li>Cost advantage: At approximately 1.8% of build cost, LDI is typically priced below the traditional 2% Strata Bond while offering broader protection.&nbsp;</li>
	<li>Market leader: Resilience Insurance is the first approved LDI provider in NSW.</li>
</ul>


The Building Legislation and Treasury Legislation (Tax Relief) Amendment Bill 2026 has passed the Victorian Lower House, putting Victoria on track to become the first state to legislate an industry workable LDI framework as a formal alternative to the Strata Building bond. 

Joel Robinson

10-year Latent Defects Insurance for new apartment buyers set to land in Victoria

<p>Just a few months after acquiring a prime Broadbeach site on the corner of First Avenue and Surf Parade, family-run developer <a href="https://www.apartments.com.au/developers/raptis">Raptis</a> has filed fresh plans for a new apartment development.</p>

<p>Raptis is seeking to deliver a <a href="https://www.apartments.com.au/new-apartments/17-19-first-avenue-broadbeach-qld-4217">29-storey tower with 73 apartments</a> on the 818 sqm site. It will be the developer's seventh project in the suburb, as they are approaching completion of The Sterling on George Avenue.</p>

<p>There will be a pool, barbecue and outdoor dining area, residents lounge and dining, sauna and steam room, gym, and a Yoga and Pilates studio.</p>

<p><img alt="Raptis" data-entity-type="file" data-entity-uuid="b554da3f-7344-49aa-b1c9-44cf459af0d7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%2010.41.45%E2%80%AFAM.png?VersionId=zzjWu1iO1wnuYv4EV4fyOyf5nSXjGYut" /></p>

<p>Raptis Joint Managing Director, Evan Raptis, says they remain&nbsp;committed to developing quality infill sites across the Gold Coast in the lead-up to the 2032 Brisbane Olympics.</p>

<p>"This project continues our long track record of delivery in Broadbeach, and we look forward to bringing another premium development to this thriving precinct."</p>

<p>The announcement follows strong delivery momentum for Raptis, with The Sterling Broadbeach nearing completion and construction well underway on the final stage of the Waterpoint community adjacent to Harbour Town. The developer's continued investment in the Gold Coast reflects confidence in the region's apartment market fundamentals, underpinned by sustained Southeast Queensland population growth.&nbsp;</p>

<p>The outlook for the region is further bolstered by infrastructure investment tied to the Brisbane 2032 Olympic Games, which is expected to drive continued economic and population growth across the SEQ corridor.&nbsp;</p>

<p>Subject to a favourable response from Gold Coast City Council, construction on the new First Avenue tower is targeted to commence before the end of 2026.&nbsp;</p>

<p><em>Read more:&nbsp;<a href="https://www.apartments.com.au/news/qld/it-s-all-in-the-family-four-decades-later-raptis-continues-to-shape-the-gold-coast-skyline">It’s all in the family: Four decades later, Raptis continues to shape the Gold Coast skyline</a></em></p>

<p><em>Read more: <a href="https://www.apartments.com.au/news/qld/raptis-secures-prime-surf-parade-site-for-next-broadbeach-apartment-development">Raptis secures prime Surf Parade site for next Broadbeach apartment development</a></em><br />
&nbsp;</p>


Gold Coast developer brings seventh Broadbeach project to market, targeting construction commencement before year end

First look: Raptis lodges plans for new 29-storey Broadbeach tower 

<p>Brisbane development veteran Kevin Seymour's Seymour Group is set to deepen its presence on one of Brisbane's most tightly held riverfront addresses, lodging revised plans for a luxury apartment development on Oxlade, just a few doors down from The Oxlade, which it completed in 2024.</p>

<p>The <a href="https://www.apartments.com.au/new-apartments/70-72-oxlade-drive-new-farm-qld-4005">new project at 70-72 Oxlade Drive</a>, directly north of The Oxlade, will have 27 apartments across a seven-storey building&nbsp;overlooking the Brisbane River and Merthyr Park. It's a revision from a 2021-approved design.</p>

<p>Designed by bureau^proberts, the project has evolved from the previously approved 26-apartment scheme, introducing an additional penthouse level while maintaining a low-density, boutique character. The development will comprise 26 three-bedroom apartments and a single four-bedroom penthouse, supported by two basement levels with 86 car spaces and 34 bicycle spaces.</p>

<p>The architectural response is centred around two distinct building forms separated by a landscaped open-air atrium.&nbsp;"This dual composition captures and embraces Brisbane’s subtropical environment whilst breaking down built form and scale," the submission to the Brisbane City Council noted.</p>

<p><img alt="First look: Seymour Group returns to Oxlade Drive with revised riverfront apartment plans in New Farm" data-entity-type="file" data-entity-uuid="c12d84d0-bc11-4067-b46f-5bd2d786a34d" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/new%20farm%20landscape.png?VersionId=YEPc2k5CAdh6aAPlu4uVpgZadh4MEfRd" /></p>

<p>A defining feature of the design is a deep landscaped void running through the centre of the building, creating what bureau^proberts describes as a "natural ravine" that enhances airflow, daylight penetration and resident amenity. The design report notes that the separation of the two building volumes is intended to maximise natural light, cross-ventilation and outlook while strengthening connections to the surrounding riverfront setting.</p>

<p>Curved balcony edges, integrated planting and extensive landscaping throughout the façade reinforce the subtropical design approach. The building's façade is softened by elevated gardens and planter beds, creating a green edge that complements the established landscape character of Oxlade Drive and neighbouring Merthyr Park.</p>

<p>New Farm has become one of Brisbane's most sought-after suburbs for developers delivering premium downsizer-focused apartments.</p>

<p>GRAYA has been particularly active in the precinct, completing both Chalk and York in recent years, while construction of Moray House, being delivered for Spyre, is now nearing completion. Architect-turned-developer Joe Adsett recently launched <a href="https://www.apartments.com.au/new-apartments/arcilla-new-farm-by-joe-adsett-28-maxwell-street-new-farm-qld-4005">Arcilla on Maxwell Street</a>, an exclusive collection of just nine apartments.</p>


First look: Seymour Group returns to New Farm's Oxlade Drive with riverfront apartment plans

<p>A new residential tower will be the first piece of a broader mixed-use precinct set to reshape a prominent Newcastle West site, with local developer <a href="https://www.apartments.com.au/developers/gwh">GWH</a> bringing its <a href="https://www.apartments.com.au/new-apartments/cambridge-quarter-newcastle-west-12-denison-street-newcastle-west-nsw-2302">Cambridge Quarter</a> vision to market.</p>

<p>The first release, Tempo, will introduce 87 apartments across a 24-storey tower, marking Stage 1 of the residential component of a larger urban regeneration project planned for the western end of Newcastle's city centre, encompassing the former Cambridge Hotel site.</p>

<p>Positioned on Denison Street, Tempo has been designed as the inaugural building within Cambridge Quarter, a precinct that will ultimately combine apartments, retail activation and revitalised public spaces including the revamping of the Cambridge Hotel.</p>

<p>[smartcode_project:default project_id=135876 project_image_fid=368853]</p>

<p>The tower will comprise a mix of one, two and three-bedroom apartments, including layouts with multipurpose rooms, catering to a broad cross-section of owner-occupiers. Apartment sizes range from around 60 sqm to 192 sqm, with a number of residences oriented to capture views across Newcastle Harbour, the city skyline and coastline.</p>

<p>GWH has emphasised liveability in the design, with open-plan layouts extending to generous balconies and terraces. Residents will have a choice of two interior palettes, while specifications include engineered stone benchtops, SMEG appliances, full-height bathroom tiling and secure building access. Premium upgrade packages will also be available.</p>

<p>Multiple rooftop resident retreats will provide communal outdoor space overlooking the harbour and city, offering an elevated amenity layer above the activity of the precinct below.</p>

<p>[smartcode_project:default project_id=135876 project_image_fid=368851]</p>

<p>The broader Cambridge Quarter vision extends beyond the residential tower itself. Ground-level retail activation and landscaped public areas are planned throughout the precinct, creating a walkable neighbourhood environment connected to the surrounding renewal of Newcastle West. The Cambridge Hotel is also earmarked for future redevelopment into a family-friendly hospitality venue integrated with the new precinct.</p>

<p>The project is strategically positioned within walking distance of Newcastle Interchange, providing access to light rail, regional rail services and direct connections to Sydney. Residents will also be close to Honeysuckle, Newcastle Harbour and the city's beaches and coastal walkways.</p>

<p>[smartcode_project:default project_id=135876 project_image_fid=368852]</p>

<p>For GWH, Cambridge Quarter represents one of its most significant Newcastle developments to date. The locally based developer, which has operated in the Hunter region since 1995, describes the project as a new chapter in the ongoing transformation of Newcastle West.</p>

<p>GWH Executive Director Jonathan Craig said the project had been shaped by a focus on creating lasting community connections.</p>

<p>"We take pride in creating places that last. Spaces where people feel connected, comfortable and a genuine sense of belonging," Craig said.</p>

<p>"Cambridge Quarter is something we are truly proud of, a place shaped by local knowledge, built with care and designed to be part of Newcastle's next chapter."</p>

<p>[smartcode_project_cta:default project_id=135876]</p>


GWH unveils first release at landmark Cambridge Quarter precinct in Newcastle West

<p><a href="https://www.apartments.com.au/developers/ss-projects">S&amp;S Projects</a>,&nbsp;Rainbow Bay's busiest developer,&nbsp;has officially lodged plans for the largest development in its booming local portfolio, seeking approval for a further 88 apartments on Boundary Street.</p>

<p>The proposal&nbsp;at <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">209–213 Boundary Street, Coolangatta</a>,&nbsp;marks the next chapter in the developer's transformation of the southern Gold Coast beachside precinct. It will be its fifth in the area, having already delivered Flow, Awaken and Esprit, while construction continues on the 38-apartment Radia. The new project would rise 57 metres above a consolidated 1,518 sqm site, on the same street as Radia and Esprit.</p>

<p>&nbsp;</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/cottee-parker-architects">Cottee Parker</a>, the proposed development comprises 88 two and three-bedroom apartments across a contemporary podium-and-tower form that integrates extensive landscaping from street level through to the rooftop.</p>

<p>The tower would be delivered above a basement and multi-level podium accommodating resident and visitor parking, with the residential component commencing from level three. The design incorporates cascading planting throughout the façade, landscaped podium edges, and deep planting zones along the Boundary Street frontage.</p>

<p><img alt="First look: S&amp;S Projects lodges plans for 88-apartment wellness tower at Coolangatta's Boundary Street" data-entity-type="file" data-entity-uuid="677e6615-b5c0-4b6c-b4f9-efb14fcde1a6" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/ss%20da%20pers.png?VersionId=YOnPKQm7IFXv0M5H326djEpxk80500Hi" /></p>

<p>A key feature of the development is its expansive rooftop wellness and recreation precinct. Plans reveal a resort-style pool deck, gymnasium, sauna, steam room, hot and cold plunge pools, rooftop terraces, barbecue areas and landscaped relaxation spaces positioned to capture views across the southern Gold Coast coastline.</p>

<p>The rooftop wellness focus builds on the vision S&amp;S Projects first outlined when it acquired the site for $20.25 million last year.</p>

<p>"We are taking every advantage to create a truly unique rooftop wellness experience with a natural feel for residents, offering stone features throughout and an underlying theme that emulates a botanical garden," S&amp;S Projects founder and director Paul Gedoun said at the time.</p>

<p>The proposal seeks a 57-metre building height, representing a 50 per cent uplift on the site's mapped 38-metre height limit. Planning documents argue the additional height is consistent with recently approved and emerging towers in the immediate Boundary Street and Rainbow Bay precinct.</p>

<p>Urbis, acting as planning consultant, said the development would provide "88 dwellings, comprising a mix of two and three-bedroom apartments, contributing to housing choice and supply within an established medium to high-rise coastal urban neighbourhood."</p>

<p>The scheme has undergone extensive pre-lodgement consultation with the City of Gold Coast, with the design refined following feedback relating to architectural expression, landscaping, traffic access and podium treatment.</p>

<p><img alt="S&amp;S" data-entity-type="file" data-entity-uuid="0a2d70fd-62ac-4b83-97c6-b798fc1243dd" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-06-05%20at%209.16.31%E2%80%AFAM.png?VersionId=yHmghUwKM3IVGpBktQU1mE.0Lpf3WimG" /></p>

<p>The architectural team is led by Brisbane-based Cottee Parker, one of Australia's most active residential design studios, with landscape architecture by Dunn + Moran. The consultant team also includes ADG Engineers, Windtech and Acoustic Works.</p>

<p>S&amp;S Projects has become one of the most influential private developers operating on the southern Gold Coast. Since entering Rainbow Bay in 2022, the company has assembled a portfolio exceeding $1 billion in end value, establishing itself as a key player in the area's evolution into a premium apartment destination. Pezet Matheson will again handle the sales for S&amp;S.</p>

<p>Coolangatta is entering another wave of apartment development, following the delivery of several prominent residential projects in recent years.</p>

<p>John Kearney's Immerse Projects will launch&nbsp;<a href="https://www.apartments.com.au/new-apartments/kaiya-kirra-beach-5-haig-street-coolangatta-qld-4225">Kaiya on Haig Street</a>&nbsp;soon, meanwhile, Palm Beach-based Sherpa Property Group is preparing to bring its debut Coolangatta development, <a href="https://www.apartments.com.au/new-apartments/flourish-viver-87-griffith-street-coolangatta-qld-4225">Flourish Viveré</a>, to market later this year, subject to approvals.</p>


First look: S&S Projects proposes 88-apartment wellness tower at Coolangatta's Boundary Street

rental properties

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<p><span>Weekly rents are rising at their slowest annual pace on record across the combined capital cities, according to the latest CoreLogic RP Data's Rental Review Snapshot.</span></p>
<p><span>The combined capital cities recorded an annual rate of growth at just 0.5% over the year. </span></p>
<p><span style="line-height: 1.3em;">The review noted Sydney and Melbourne had the greatest increases in weekly rents however, their rates of growth have slowed relative to a year ago.</span></p>
<p><span style="line-height: 1.3em;">"Over the past month, weekly rents have moved lower across every capital city except Sydney where they were unchanged and in Melbourne and Hobart where they rose. Over the past three months rents are lower in all capital cities," it said.</span></p>
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mick.cee-iDmgDDAmu8

Weekly rents rising slowest on record: CoreLogic RP Data

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<p>There was a time when a big infrastructure project was an economic gold mine for the local community.</p>
<p>The proponents hired local people and bought services from local businesses. Expert personnel brought in from outside rented local houses.</p>
<p>How quaint were those days. How very last century. </p>
<p>Today you fly everyone in from a distance and build a temporary camp to accommodate them. A town can have a $2 billion project happening 5km down the road without any change in the local unemployment rate or the residential vacancy rate.<span style="line-height: 1.3em;"> </span></p>
<p>In fact, the vacancy rate may well rise if developers build new dwellings in anticipation of increased demand. Gladstone’s influx of tens of thousands of new jobs coincided with its vacancy rate rising from near zero to 10%. Most of the worker stayed in camps on an offshore island.</p>
<p>If you live locally and want a job on the big new project that comes to town, you may need to migrate interstate because big companies prefer to fly their workers in from outside.</p>
<p>Most companies planning big mining projects put out press releases promising to hire local workers and services, but in most cases they’re lying.</p>
<p>And it’s not just resources projects using the modern-day scourge of FIFO workforces and temporary accommodation camps. Now, everyone’s doing it.</p>
<p>In Bundaberg in Queensland, a business that grows strawberries has received council approval for a nine-stage short-term accommodation development to house seasonal workers. The losers will be local landlords and owners of backpackers accommodation.<span style="line-height: 1.3em;"> </span></p>
<p>In Toowoomba, a 500-room workers camp was proposed by one of the companies hoping to become the preferred tenderer for the $1.3 billion Toowoomba bypass, also known as the Toowoomba Second Range Crossing. </p>
<p>As it happens the Rangelink consortium didn’t win the tender. But it demonstrates how the concept of mobile workforces and temporary workers camps is taking hold.</p>
<p>The PR for projects like this always put the number of jobs created up in lights. That used to mean local jobs and politicians would gush about the local benefits. Today it’s likely very few of those jobs will be people living locally.<span style="line-height: 1.3em;"> </span></p>
<p>It’s changed the way property investors need to assess locations worthy of their attention. A big infrastructure development may create some economic ripples in the local community but these events no longer create the property booms of the past.</p>
<p>Today, the big infrastructure projects are more likely to create ghost towns than boom towns. Regional Australia is littered with towns that once thrived from the presence of big industrial developments or mining projects – places where investors enjoyed double-digit rental yields.</p>
<p>Now the vacancy rates read like this: Mackay 7%, Port Hedland 8%, Emerald 8%, Newman 9%, Chinchilla 17%, Miles 24%.</p>
<p>Many would speculate that this is evidence of the end of the resources boom. It’s not. In most cases, it’s evidence of the proponents of major mining or infrastructure projects bypassing the local town and putting up their workers in temporary camps. <span style="line-height: 1.3em;"> </span></p>
<p>The property market in the WA town of Newman has crashed during the construction phase of the $9 billion Roy Hill iron ore mine. Seven thousand people are working on this project but Newman’s median price has dropped 24% in the past year and rents are about a quarter of their peak levels.</p>
<p>And the core message is that  this phenomenon is no longer just a resources sector scenario. It’s spread to other enterprises.</p>
<p><em>Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a></em></p>
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terryryder-YECXbqmri2

FIFO accommodation and the rental debacle: Terry Ryder

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<em>SQM Research</em>'s released its latest news and views on vacancy rates and asking rents in Australia - with capital city vacancy rates nationally ticking down from 2.4 per cent to 2.3 per cent in August.</div>
<div> </div>
<div>SQM found that vacancy rates have increased strongly in Darwin (+2.0 per cent to 3.5 per cent) and Perth (+1.1 per cent to 3.7 per cent) over the past year. </div>
<div> </div>
<div>However, SQM also found that vacancy rates ticked down slightly across most capital cities in August. </div>
<div> </div>
<div>Given the strength of the dwelling supply response one would be forgiven for thinking that vacancy rates might have increased in Sydney and Melbourne over the past year.</div>
<div> </div>
<div>Yet this has not played out in either case, with city-wide vacancy rates declining to just 1.7 per cent in Sydney and 2.2 per cent in Melbourne respectively (from 2.6 per cent one year ago in the case of Melbourne).</div>
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<div>SQM's data showed that while rents in the largest capitals had increased ahead of the headline rate of inflation over the past year, asking rents for houses in Darwin have crashed by -21.3 per cent, while asking rents for houses in Perth were also down by -8.1 per cent.</div>
<div>
<br>Asking rents for houses were up strongly in Hobart (+6.7 per cent) as the market tightens, with vacancy rates in the Tasmanian capital now at just 1.1 per cent. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Demographics</span></strong></div>
<div> </div>
<div>Despite very strong levels of approvals and construction, vacancy rates have actually decreased in Sydney and Melbourne over the past year.</div>
<div> </div>
<div>How so? One of the clues might be found in the ABS Population by Age &amp; Sex data which I analysed recently. </div>
<br><div>And that is that population growth has become increasingly focussed on the inner and middle ring suburbs of the largest capital cities, both cause and effect of the natrure of the supply response through this cycle, as well as emerging employment trends. </div>
<br><span>For example, see the headline 2009-2014 data for Greater </span>Melbourne<span>...</span>
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<span>...Greater </span>Sydney<span>...</span>
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<span>...and, to a somewhat lesser extent, Greater </span>Brisbane<span>.</span>
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<div>There is, however, still a high volume of apartment approvals in the pipeline in all three of largest capitals.</div>
<br><div>As the above charts show over the long run the population growth to absorb the new supply has been evident, while much of the new high rise stock isn't that appealing to homebuyers in any case. </div>
<div> </div>
<div>Meanwhile, driven by a Sydney economic boom the New South Wales economy has added a thumping +118,800 jobs over the past 12 months.</div>
<div> </div>
<div>It should therefore be little surprise that interstate migration away from the Premier State had recently declined to its lowest level on record. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div> </div>
<div>Overall, not much sign of rising vacancy rates in the two largest capitals in this release, but SQM's Louis Christopher does see vacancies rising over the year ahead.</div>
<div>
<br>And I agree, With the strength of the dwelling construction cycle underway this must surely be the case.</div>
<div> </div>
<div>On a related note, dwelling construction surprisingly detracted from GDP growth in the second quarter, which would appear to be an anomalous result given the veritable forest of cranes on the city skylines.</div>
<div> </div>
<div>While I'm not in the business of issuing flash forecasts for GDP - a fool's errand if ever there was one - it wouldn't be a surprise to me to see dwelling construction and a positive reversal in net exports (and possibly, inventories) leading to a +0.5 per cent result for Q3, before quarterly growth of +0.7 per cent returning for the next few quarters thereafter. </div>
<div> </div>
<div>That said, whether or not household consumption and public/government investment can continue to produce the positive contributions that they did in Q2 is another question.</div>
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<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
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pwargent-M4siyDbqQY

Vacancy rates tighten a little: Pete Wargent

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<p><span>The Perth rental market has fallen considerably with the level of rental listings increasing and average weekly rental values down, according to Herron todd White's September Month in Review.</span></p>
<p><span>Herron Todd White noted suburbs such as Balga, Westminster and Nollamara had multiple dwelling (end unit) values fall by around 10% to 15% when compared to the same period last year. </span></p>
<p><span>Rivervale, Cloverdale and Belmont have also been saturated with small walk up type developments and the oversupply issue exacerbated by apartments in the Springs Precinct.</span></p>
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Perth multiple dwelling values fall 10% to 15%: Herron Todd White

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<p><span>Rental rates for houses are down 1.0% and units up by 0.2% for the three months to August, according to C</span><span style="line-height: 1.3em;">oreLogic RP Data's August Rental Index Results.</span></p>
<p><span style="line-height: 1.3em;">According to CoreLogic RP Data,</span><span style="line-height: 1.3em;"> more recently the rate of rental growth has started to slow even further. Annually, </span><span style="line-height: 1.3em;">house rents increased by 0.5% annually and units up 1.6%. </span></p>
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Rental rates for houses down 1.0%: CoreLogic RP Data

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<p>Rental increases are at their slowest pace on record at 0.7% over the year, according to the CoreLogic RP Data August Rental Review.</p>
<p>The extent of the current construction boom across the capital cities and slowing population growth is cited as driving factors. </p>
<p>Over August, weekly rents fell by a further -0.4% and c<span>ombined capital city rental rates are recorded at $487/week for houses and $462/week for </span><span style="line-height: 1.3em;">units. </span></p>
<p>CoreLogic RP Data senior research analyst Cameron Kusher said<span style="line-height: 1.3em;"> annual rental growth is well below its 10 year average levels. The 10-year annual rate of rental growth is currently higher than growth over the past year across each capital city. </span></p>
<p><span style="line-height: 1.3em;">“Additional accommodation being provided by the current building boom along with record high levels of investment purchasing is adding substantial new dwelling supply to the market at a time where the rate of population growth is slowing,” he said.</span></p>
<p><span style="line-height: 1.3em;"> </span><span style="line-height: 1.3em;">“At the same time as rental growth is slowing the rise in home values is pushing rental yields lower. Across the combined capital cities gross rental yields sit at record lows of 3.4% for houses and 4.3% for units.</span></p>
<p><span style="line-height: 1.3em;">“The ongoing decline in yields is largely being driven by Sydney and Melbourne where rental growth is sluggish and value growth is strong.</span><br><span style="line-height: 1.3em;">As a result both cities currently have record low rental yields." </span></p>
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Annual national rental rate increase drops to all-time low of 0.7%: CoreLogic RP Data

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<p>It's summer time, so longingly looking into estate agent window displays for shacks or palaces for sale or rent up and down the coast has been property pursuit of many.</p>
<p><span style="line-height: 1.3em;">Recent research puts Portsea and Sorrento on top of the nation’s list when it comes to weekly median holiday rentals.</span></p>
<p>The holiday homes on Victoria’s Mornington Peninsula typically get rented to holiday makers for around $3,150 a week.</p>
<p>But just a few kilometres down Point Nepean Road at Rye, the vacation prices are far less expensive with <span style="line-height: 1.3em;">seven nights for around $1,900. Even cheaper at Rosebud.</span></p>
<p><span style="line-height: 1.3em;"><span style="line-height: 1.3em;">Broadbeach's $2,325 rental on the Gold Coast can be halved at Coolangatta at around $1,085,</span><span style="line-height: 1.3em;"> PRDnationwide research</span><span style="line-height: 1.3em;"> analyst Harrison Hall said.</span></span></p>
<p><span style="line-height: 1.3em;">“For those looking at Sorrento you can expect to pay 60% less in nearby Rosebud ($1,260),’’ he told <em>The New Daily</em>.</span></p>
<p><span style="line-height: 1.3em;">The research found Sydney's northern beaches have a $2,380 </span><span style="line-height: 1.3em;">weekly</span><span style="line-height: 1.3em;"> median holiday rental, the much higher prices paid in the often-secretative Palm Beach precinct not included in the survey.</span></p>
<p>The survey, after combing online holiday house rental portals, reported on the areas across Australia where PRD have previously undertaken its extensive property research. </p>
<table border="1">
<colgroup>
<col>
<col>
<col>
<col>
</colgroup>
<tbody>
<tr>
<td class="s0">State</td>
<td class="s0"> </td>
<td class="s0">$ Median Nightly Rate</td>
<td class="s0">$ Median Weekly Rate</td>
</tr>
<tr>
<td class="s1">VIC</td>
<td class="s1">Portsea/Sorrento</td>
<td class="s2">449.5</td>
<td class="s2">$3,146.50</td>
</tr>
<tr>
<td class="s3">NSW</td>
<td class="s3">Northern Beaches</td>
<td class="s4">340</td>
<td class="s4">$2,380.00</td>
</tr>
<tr>
<td class="s1">QLD</td>
<td class="s1">Broadbeach/Mermaid Beach</td>
<td class="s2">332.5</td>
<td class="s2">$2,327.50</td>
</tr>
<tr>
<td class="s1">QLD</td>
<td class="s1">Sunshine Beach</td>
<td class="s2">331</td>
<td class="s2">$2,317.00</td>
</tr>
<tr>
<td class="s1">NSW</td>
<td class="s1">Avoca Beach</td>
<td class="s2">297</td>
<td class="s2">$2,079.00</td>
</tr>
<tr>
<td class="s1">QLD</td>
<td class="s1">Noosa Heads</td>
<td class="s2">285</td>
<td class="s2">$1,995.00</td>
</tr>
<tr>
<td class="s1">QLD</td>
<td class="s1">Hope Island/Sanctuary Cove</td>
<td class="s2">280</td>
<td class="s2">$1,960.00</td>
</tr>
<tr>
<td class="s1">VIC</td>
<td class="s1">Rye</td>
<td class="s2">271</td>
<td class="s2">$1,897.00</td>
</tr>
<tr>
<td class="s1">VIC</td>
<td class="s1">Lorne</td>
<td class="s2">244</td>
<td class="s2">$1,708.00</td>
</tr>
<tr>
<td class="s1">QLD</td>
<td class="s1">Coolum</td>
<td class="s2">240</td>
<td class="s2">$1,680.00</td>
</tr>
<tr>
<td class="s5">NSW</td>
<td class="s5">Byron</td>
<td class="s6">240</td>
<td class="s6">$1,680.00</td>
</tr>
<tr>
<td class="s5">WA</td>
<td class="s5">Margaret River</td>
<td class="s6">232.5</td>
<td class="s6">$1,627.50</td>
</tr>
<tr>
<td class="s5">QLD</td>
<td class="s5">Burleigh Heads/Currumbin</td>
<td class="s6">230</td>
<td class="s6">$1,610.00</td>
</tr>
<tr>
<td class="s5">VIC</td>
<td class="s5">Torquay</td>
<td class="s6">225</td>
<td class="s6">$1,575.00</td>
</tr>
<tr>
<td class="s5">QLD</td>
<td class="s5">Mooloolaba</td>
<td class="s6">219.5</td>
<td class="s6">$1,536.50</td>
</tr>
<tr>
<td class="s5">SA</td>
<td class="s5">Aldinga</td>
<td class="s6">214.5</td>
<td class="s6">$1,501.50</td>
</tr>
<tr>
<td class="s5">NSW</td>
<td class="s5">Jervis Bay</td>
<td class="s6">205</td>
<td class="s6">$1,435.00</td>
</tr>
<tr>
<td class="s5">VIC</td>
<td class="s5">Anglesea</td>
<td class="s6">200</td>
<td class="s6">$1,400.00</td>
</tr>
<tr>
<td class="s5">NSW</td>
<td class="s5">Mollymook</td>
<td class="s6">200</td>
<td class="s6">$1,400.00</td>
</tr>
<tr>
<td class="s5">SA</td>
<td class="s5">Maslins Beach</td>
<td class="s6">200</td>
<td class="s6">$1,400.00</td>
</tr>
<tr>
<td class="s5">TAS</td>
<td class="s5">Freycinet (Coles Bay)</td>
<td class="s6">195</td>
<td class="s6">$1,365.00</td>
</tr>
<tr>
<td class="s5">QLD</td>
<td class="s5">Noosaville</td>
<td class="s6">190</td>
<td class="s6">$1,330.00</td>
</tr>
<tr>
<td class="s5">WA</td>
<td class="s5">Scarborough</td>
<td class="s6">190</td>
<td class="s6">$1,330.00</td>
</tr>
<tr>
<td class="s5">QLD</td>
<td class="s5">Surfers Paradise</td>
<td class="s6">185</td>
<td class="s6">$1,295.00</td>
</tr>
<tr>
<td class="s5">SA</td>
<td class="s5">Glenelg</td>
<td class="s6">185</td>
<td class="s6">$1,295.00</td>
</tr>
<tr>
<td class="s5">QLD</td>
<td class="s5">Peregian Beach</td>
<td class="s6">180</td>
<td class="s6">$1,260.00</td>
</tr>
<tr>
<td class="s5">VIC</td>
<td class="s5">Rosebud</td>
<td class="s6">180</td>
<td class="s6">$1,260.00</td>
</tr>
<tr>
<td class="s5">NSW</td>
<td class="s5">Port Stephens</td>
<td class="s6">180</td>
<td class="s6">$1,260.00</td>
</tr>
<tr>
<td class="s5">NSW</td>
<td class="s5">Coffs Harbour</td>
<td class="s6">177.5</td>
<td class="s6">$1,242.50</td>
</tr>
<tr>
<td class="s5">QLD</td>
<td class="s5">Bribie Island</td>
<td class="s6">175</td>
<td class="s6">$1,225.00</td>
</tr>
<tr>
<td class="s5">NSW</td>
<td class="s5">Kingscliff</td>
<td class="s6">170</td>
<td class="s6">$1,190.00</td>
</tr>
<tr>
<td class="s7">SA</td>
<td class="s7">Robe</td>
<td class="s8">170</td>
<td class="s8">$1,190.00</td>
</tr>
<tr>
<td class="s7">NSW</td>
<td class="s7">Batemans Bay</td>
<td class="s8">167.5</td>
<td class="s8">$1,172.50</td>
</tr>
<tr>
<td class="s7">QLD</td>
<td class="s7">Alexandra Headlands</td>
<td class="s8">160</td>
<td class="s8">$1,120.00</td>
</tr>
<tr>
<td class="s7">NSW</td>
<td class="s7">Eden</td>
<td class="s8">160</td>
<td class="s8">$1,120.00</td>
</tr>
<tr>
<td class="s7">QLD</td>
<td class="s7">Coolangatta</td>
<td class="s8">155</td>
<td class="s8">$1,085.00</td>
</tr>
<tr>
<td class="s7">NSW</td>
<td class="s7">Merimbula</td>
<td class="s8">150</td>
<td class="s8">$1,050.00</td>
</tr>
<tr>
<td class="s7">WA</td>
<td class="s7">Cable Beach</td>
<td class="s8">150</td>
<td class="s8">$1,050.00</td>
</tr>
<tr>
<td class="s7">NSW</td>
<td class="s7">Port Mac</td>
<td class="s8">140</td>
<td class="s8">$  980.00</td>
</tr>
<tr>
<td class="s7">NSW</td>
<td class="s7">Yamba</td>
<td class="s8">110</td>
<td class="s8">$  770.00</td>
</tr>
<tr>
<td class="s7">NSW</td>
<td class="s7">Hawks Nest</td>
<td class="s8">93</td>
<td class="s8">$  651.00</td>
</tr>
</tbody>
</table>
<p><span style="line-height: 1.3em;"><em>Source: PRDnationwide</em><br></span></p>
<p><span style="line-height: 1.3em;">Affordable NSW country costal holiday accommodation included </span><span style="line-height: 1.3em;">Hawks Nest, 225 kilometres from Sydney, with a median seven-night stay costing $650.</span></p>
<div id="attachment_177959"><span style="line-height: 1.3em;">The PRD research put the weekly holiday rentals at Yamba (670 kilometres north of Sydney) at $770, Port Macquarie (390 kilometres north of Sydney) at $980 and Merimbula (525 kilometres south of Sydney) at $1,050. </span></div>
<div><span style="line-height: 1.3em;"> </span></div>
<div>
<span style="line-height: 1.3em;">For Canberra residents Batemans Bay will </span>typically<span style="line-height: 1.3em;"> cost $1,175.</span>
</div>
<p><span style="line-height: 1.3em;">In South Australia, a week-long stay in the coastal, Robe will cost about $1,190.</span></p>
<p><span style="line-height: 1.3em;">In Western Australia's Margaret River holiday makers face a median weekly rental of $1,625.</span></p>
<p>At Cable Beach in Broome, the cost is $1,050.</p>
<p>Freycinet (Coles Bay) in Tasmania will cost $1,365.</p>
<p>The research combined pricing of all holiday accommodation including apartments, houses and units.</p>
<p><span style="line-height: 1.3em;">Last year Pitcher Partners partner David Staples, compiled an analysis, counselling would-be buyers to do their sums.</span></p>
<p>“It’s generally a lifestyle choice rather than an investment,” he suggests. </p>
<p><span style="line-height: 1.3em;">And </span>of course<span style="line-height: 1.3em;"> renting out to others at the peak holiday times, is necessary for tax deductability.</span></p>
<p><span style="line-height: 1.3em;">For many holiday home owners, it's almost a home-from-home with the eventual savvy sea change shift less stressful than for everyone else.</span></p>
<p><span style="line-height: 1.3em;">Many coastal property owners complain that they spend all their time fixing up and maintaining their holiday homes, especially those in close proximity of the sea</span><span style="line-height: 1.3em;">.</span></p>
<p>Rental returns in many coastal spots can cover most costs - maybe all up around eight weeks a year with demand then plummeting during winter which is when the owner can enjoy those blustery southerlies.</p>
<p>Typically you'd expect it to provide a net annual yield of no more than 2 per cent, even if commanding weekly rents of $2000 or more in peak periods.</p>
<p>Ofcourse there's always the chance of using the income for a quick ski at Whistler while the tenants are swatting away the beachside blowies.</p>
<p>Beware the expectations of holiday guests has risen in recent times so household items once considered extras such as air-conditioning, a dishwasher and a modern gas barbeque are now viewed as essential.</p>
<p>Maybe even the Nepresso machine given anyone can gets the capsules at the local supermarket.<span style="line-height: 1.3em;">.</span></p>
<p>According to David Staples from the accounting firm Pitcher Partners, the money spent on an average holiday house could pay for more than one week a month – or about 90 days a year – in a quality hotel.</p>
<p>Land tax on a holiday house can be a massive burden, particularly in pricey areas on the Mornington Peninsula and on Sydney’s northern beaches.</p>
<p>In these areas, annual land tax on a holiday home can amount to tens of thousands of dollars.</p>
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