<p>Repeat buyers are one of the strongest measures of confidence in any apartment development.</p>

<p>At <a href="https://www.apartments.com.au/new-apartments/era-newcastle-west-124-126-bull-street-newcastle-west-nsw-2302">ERA</a> in Newcastle West, some purchasers are returning to <a href="https://www.apartments.com.au/developers/gwh">GWH</a> after living at the developer's One Apartments. Their decision to purchase again was driven by the quality of life they found after moving into their first GWH home.</p>

<p>Keith Wilton had spent years living in a house in East Maitland before deciding it was time for a change. Apartment living had always been on his radar, but he was selective about what he wanted.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/FH_1EzB-1vs?si=XScVlP1ERsTDJoME" title="YouTube video player" width="560"></iframe></p>

<p>"I had some boxes I wanted to tick," he says.</p>

<p>Keith points to the open-plan design, generous outdoor areas and considered inclusions as key reasons One Apartments worked for him.</p>

<p>“One of those things was a nice indoor open plan area, but also I wanted a nice outdoor open area that I could entertain on in summer or Christmases or birthdays,” he says.</p>

<p>He also found value in the smaller details, from integrated appliances to shared resident spaces including the pool, cinema and rooftop areas.</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356818]</p>

<p>After comparing several developments, he chose One Apartments because of GWH's longstanding local reputation and his own experience working with the developer on a commercial project more than a decade earlier.</p>

<p>"I knew that they were local, that the quality of the build was going to be up there. I'd looked at other apartment complexes around and close by, and I just knew that here was a better decision location wise."</p>

<p>Today, Keith says the move has completely changed how he experiences Newcastle.</p>

<p>"I enjoy living in this location because it's more of a lifestyle change. That Newcastle city living where you can walk to restaurants and bars and even beaches and parks and even shopping across the road."</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356828]</p>

<p>Beyond the location, he says it's the sense of community that has surprised him most.</p>

<p>"Everyone loves living here because they chose to live here, but everyone looks out for each other. It's a real great community feel here."</p>

<p>For Aimee and Lyle Goodman, the journey started almost by chance.</p>

<p><iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen="" frameborder="0" height="315" referrerpolicy="strict-origin-when-cross-origin" src="https://www.youtube.com/embed/tsioMLcnjas?si=zq-ys3JuWpfa5hFv" title="YouTube video player" width="560"></iframe></p>

<p>The couple happened to be having coffee in Newcastle when they noticed the site where One Apartments was about to begin construction.</p>

<p>"We were aware GWH was planning a development," Aimee says. "We made one phone call and things moved pretty quickly after that."</p>

<p>As busy business owners, they initially thought apartment living would simply reduce the maintenance that came with larger homes. Instead, it fundamentally changed how they spent time together.</p>

<p>"We actually catch up more as a family now," Aimee says.</p>

<p>"We've had homes with big yards and lots of space, but everyone ended up in different rooms. Here we'll have dinner together, the kids can play, and we spend far more quality time together."</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356829]</p>

<p>Lyle says their confidence came from GWH's reputation within Newcastle's building industry.</p>

<p>"I know people who've worked across different apartment projects, and whenever GWH came up the feedback was always the same. They're rock solid. They're quality."</p>

<p>That confidence only grew throughout the buying process.</p>

<p>"One of the things that really impressed us with GWH was the whole process, was the communication," Lyle says. "It was consistent, it was regular, there was no problem if we had some weird questions, there was no problems in getting answers."</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=351104]</p>

<p>Aimee says one moment stood out.</p>

<p>"The project actually finished on time. We realised we needed to hurry up and sell our house because everything was happening exactly when they said it would."</p>

<p>The positive experience at One Apartments ultimately gave all three buyers the confidence to purchase again with GWH, this time at ERA.</p>

<p>Their confidence reflects what many buyers are seeking in today's apartment market. Location remains important, but so too does certainty around delivery, quality and long-term liveability.</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356822]</p>

<p>ERA builds on those foundations with 280 one, two and three-bedroom apartments across two landmark towers in <a href="https://www.apartments.com.au/developments/newcastle-west-nsw-2302">Newcastle West</a>.&nbsp;</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/fk-australia">Fender Katsalidis</a>, the project will include more than 2,000 square metres of resident amenities, including a resort-style pool, gym, sauna, private cinema and rooftop entertaining spaces overlooking the harbour and coastline.&nbsp;</p>

<p>The development is also within walking distance of the Newcastle Interchange, Honeysuckle, Darby Street, the harbour foreshore, restaurants, retail and the city’s beaches, continuing the walkable lifestyle that existing GWH buyers say has transformed how they live.</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=356826]</p>

<p>For Keith, the appeal remains straightforward.</p>

<p>"You feel at home even before you've moved into your home."</p>

<p>For Aimee, the change is measured in time.</p>

<p>“I just felt like I had more time,” she says.</p>

<p>[smartcode_project:default project_id=135096 project_image_fid=351102]</p>

<p>Construction at ERA is now underway, with more than half of the residences already sold and limited two and three-bedroom apartments remaining in the East Tower release. Priced from $980,000 for two-bedroom residences and $1.46 million for three-bedroom residences, buyers can secure an apartment with a 10 per cent deposit, with premium homes offering ocean views from Level 8 and harbour views from Level 10.</p>

<p>ERA is also backed by Resilience Insurance's 10-year Latent Defects Insurance policy, providing protection against structural or waterproofing defects for 10 years after completion. The project is anticipated to be completed in early 2028.</p>

<p>[smartcode_project_cta:default project_id=135096]</p>


Joel Robinson

From ONE to ERA: Why buyers are choosing GWH again in Newcastle West

<p>Virgate Property Group is preparing to commence construction of Verdé, its new apartment development in Melbourne's Arts Precinct at Southbank, following a strong run of sales that has seen more than half of the project's 173 apartments secured.</p>

<p>Verdé has attracted a broad mix of first home buyers, owner-occupiers upgrading from nearby inner-city suburbs and investors, with younger owner-occupier couples aged between 28 and 45 accounting for the strongest enquiry. Many are already living in Southbank, South Melbourne, Albert Park, Port Melbourne, South Yarra and the CBD.</p>

<p>"Verdé is located in one of the most desirable pockets of southern Melbourne," Blair Property Group Director Darren Blair, who is managing sales at Verdé, said.</p>

<p>"It's within walking distance of the Arts Centre, Royal Botanic Gardens, Albert Park Lake, and Southbank's restaurants and retail. It's a great lifestyle location with strong amenity and liveability, which made it a very attractive choice for the project."</p>

<p>[smartcode_project:default project_id=4661 project_image_fid=372549]</p>

<p>Virgate was already familiar with the precinct, having previously delivered the successful Domain House development in neighbouring South Melbourne. That experience gave the developer confidence to acquire the Coventry Street site and continue expanding its presence in Melbourne's inner south.</p>

<p>"We had been keeping an eye on the site and the broader precinct for a few months before deciding to move forward with the acquisition," Virgate said.</p>

<p>The project was ultimately secured in 2020 following feasibility studies, planning assessments and due diligence, with the brief centred on delivering "a high-quality, considered design that feels both refined and fit for purpose."</p>

<p>[smartcode_project:default project_id=4661 project_image_fid=314259]</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/bruce-henderson-architects">Bruce Henderson Architects</a>, Verdé comprises 173 one, two and three-bedroom apartments priced from $599,000. The architecture is distinguished by a faceted glass façade that responds to both the site's outlook and Melbourne's changing light conditions.</p>

<p>According to Bruce Henderson Architects, the coloured glazing gives the building a distinctive identity while also providing privacy and solar shading, with residences oriented to capture views across the bay, city skyline and surrounding parklands.</p>

<p>Inside, <a href="https://www.apartments.com.au/interior-designers/designoffice">DesignOffice</a> has created interiors focused on natural light, efficient planning and enduring materials. Apartments feature engineered oak flooring, natural stone benchtops, floor-to-ceiling glazing and SMEG appliances, while a restrained material palette aims to complement the expansive outlooks rather than compete with them.</p>

<p>[smartcode_project:default project_id=4661 project_image_fid=372550]</p>

<p>Resident amenity has also been designed around everyday functionality rather than occasional use. Facilities include a concierge-serviced lobby, residents' lounge with fireplace, library and co-working space, gym, terrace garden with barbecue facilities, ground-floor café, and package delivery management.</p>

<p>The project's location continues to be one of its strongest drawcards. Positioned on Coventry Street, Verdé sits within walking distance of the National Gallery of Victoria, Arts Centre Melbourne, Royal Botanic Gardens and Albert Park Lake, while Southbank's dining precinct, Sturt Street trams and the new ANZAC Station are all nearby. The surrounding education catchment also includes Melbourne Grammar, Melbourne Girls Grammar, Mac.Robertson Girls' High School and several major university campuses.</p>

<p>The sales team says buyers have responded particularly well to the combination of location, design quality and long-term liveability.</p>

<p>"They're responding really positively to the quality of the design, premium resident amenities and the uninterrupted views. Many also appreciate the location and how connected it is to everything they need."</p>

<p>The ability to secure stamp duty savings before completion has also been a key factor for purchasers, alongside the opportunity to personalise finishes ahead of settlement.</p>

<p>With construction set to commence soon and more than half the apartments already sold, Verdé enters its next phase as one of the Arts Precinct's more established apartment developments, offering remaining buyers an opportunity to secure a residence before construction advances further. Expected completion is scheduled for late 2027.</p>

<p>[smartcode_project_cta:default project_id=4661]</p>


Virgate's Verdé Southbank moves toward construction as sales fly past halfway stage

<p>Downsizer-focused apartment development Kooyongkoot in Hawthorn has been recognised at the 2026 Better Future Melbourne Design Awards, taking home Gold and Silver awards in two categories.</p>

<p><a href="https://www.apartments.com.au/new-apartments/kooyongkoot-hawthorn-1-kooyongkoot-road-hawthorn-vic-3122">Kooyongkoot</a>, currently being delivered by developer PQD and designed by Cera Stribley, received Gold in the Interior Design – Proposed category and Silver in the Architecture – Proposed category.</p>

<p>The dual recognition reflects the design approach behind the boutique development on prestigious Kooyongkoot Road, where the focus has been on creating homes for downsizers seeking the space, quality and functionality of a detached house within a low-rise apartment building.</p>

<p>Rather than maximising apartment numbers, <a href="https://www.apartments.com.au/developers/pqd">PQD</a> and <a href="https://www.apartments.com.au/architects/cera-stribley-architects">Cera Stribley</a> limited the development to just 18 residences, allowing for larger floorplans, greater privacy, generous landscaping and expansive communal spaces.&nbsp;The majority of the apartments also benefit from corner aspects, allowing for dual sources of natural light.</p>

<p>Now around 70 per cent complete and on track for completion in November 2026, Kooyongkoot will comprise a mix of garden residences, ter​race apartments, sub-penthouses, and is crowned by two half-floor penthouses with direct lift access and private rooftop terraces.</p>

<p>[smartcode_project:default project_id=102717 project_image_fid=355297]</p>

<p>The Silver Award for Architecture recognised the way the building responds to its prominent corner position at the ent​rance to Hawthorn's Scotch Hill precinct, one of Melbourne's most established residential neighbourhoods.</p>

<p>Rather than competing with the grand homes that line Kooyongkoot Road, the architectural approach focused on restraint and longevity, using curved brickwork, generous landscaping and carefully considered proportions to integrate with the existing streetscape.</p>

<p>"The form feels fluid and timeless, as though shaped by the landscape itself – architecture that belongs, rather than competes," said Chris Stribley, Co-Founder and Managing Principal of Cera Stribley.</p>

<p>The judging submission also highlighted practical innovations throughout the building, including lift cores servicing only nine homes each, a central landscaped lightcourt designed to bring daylight and ventilation into the building, and fully enclosed private storage rooms with lighting, power and shelving to better accommodate residents transitioning from larger family homes.</p>

<p>[smartcode_project:default project_id=102717 project_image_fid=355293]</p>

<p>The Gold Award for Interior Design recognised the project's focus on long-term liveability rather than display-home aesthetics.</p>

<p>According to the awards submission, the interiors were designed from the inside out, prioritising how homes would function over decades of daily use through generous proportions, practical storage, durable natural materials and flexible layouts.</p>

<p>The specification includes natural stone throughout, upgraded acoustic glazing, V-ZUG appliances and fully enclosed storage rooms, alongside an amenity offering focused on wellness, entertainment and everyday convenience.&nbsp;</p>

<p>Residents will have access to a gym and yoga studio, a wellness centre featuring traditional and infrared saunas, a cold therapy shower and treatment room, as well as a residents' lounge and golf simulator/cinema room for entertainment.&nbsp;Kooyongkoot has also considered the everyday convenience of its residents by offering a private carwash and pet wash facilities on site as well as dedicated parcel lockers and oversized fully enclosed storage rooms.&nbsp;</p>

<p>[smartcode_project:default project_id=102717 project_image_fid=355303]</p>

<p>The project's attention to detail has already resonated with buyers. Earlier this year, Kooyongkoot recorded one of Boroondara's highest apartment sales when an $8 million penthouse was purchased by a Melbourne CEO downsizing from a nearby family home.</p>

<p>"Every detail feels deliberate, from the overall design down to the smallest touches," the purchaser said.</p>

<p>"The level of quality and refinement is exceptional, but what really sold it was how liveable it felt... It felt like a place where everything had been considered, not just a luxury building."</p>

<p>[smartcode_project:default project_id=102717 project_image_fid=355304]</p>

<p>Sustainability also formed a key part of both award submissions. Kooyongkoot is targeting a minimum 7.5-star NatHERS rating across all residences, supported by passive design principles, high-performance glazing, EV charging infrastructure, water reuse systems and a wellness model focused on lower-energy dry facilities rather than pools and large wet areas.</p>

<p>Located within walking distance of Scotch College, Methodist Ladies' College, Koo​yong Lawn Tennis Club, Aubur​n Village and Camberwell Junction, Kooyongkoot continues to target owner-occupiers looking to remain in Melbourne's inner east without compromising on space or quality. A limited selection of two, three and four-bedroom residences remains available, with prices starting from $1.9 million.</p>

<p>[smartcode_project_cta:default project_id=102717]</p>


Kooyongkoot wins Gold and Silver at Better Future Melbourne Design Awards

<p>New apartment supply has become increasingly constrained across <a href="https://www.apartments.com.au/developments/parramatta-nsw-2150">Parramatta</a> in recent years, with fewer projects progressing through to completion as development conditions have become more challenging.</p>

<p>It makes <a href="https://www.apartments.com.au/developers/novm">NOVM</a>'s 2021-completed <a href="https://www.apartments.com.au/buildings/the-lennox-parramatta-12-phillip-street-parramatta-nsw-2150">The Lennox</a> one of the most recently completed residential towers on the Parramatta River, and among the newest apartment developments in Sydney's second CBD.</p>

<p>With the project largely completed before the sharp escalation in construction costs and inflation following the pandemic, The Lennox is now offering pricing that would be difficult to replicate in a comparable new development in Parramatta today, or across much of Western Sydney.</p>

<p>The majority of the 413 apartments at The Lennox sold before and shortly after completion. A limited release of the remaining apartments has recently been brought to market by capital partner <a href="https://www.apartments.com.au/project-marketer/equitifund-group">Equitifund</a>, with entry-level pricing from $700,000 and two-bedroom apartments available from under $1 million.</p>

<p>Rising above the Parramatta River at 12 Phillip Street, The Lennox comprises one, two, three and four-bedroom apartments, appealing to first home buyers, young professionals, families, downsizers and interstate investors seeking a completed apartment in one of Australia's fastest-growing economic centres.</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=372394]</p>

<p>Rather than positioning Parramatta as an alternative to Sydney's CBD, Equitifund believes the city has reached a point where it stands on its own merits.</p>

<p>"Parramatta is no longer simply an alternative to Sydney CBD, it's becoming a destination in its own right," Equitifund Executive Chairman Greg Huxley said.</p>

<p>"The Lennox captures that evolution with a level of quality and amenity that's difficult to match at its price point."</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=953]</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/marchese-partners">Marchese Partners</a>, the tower responds directly to its riverfront setting through expansive glazing and open-plan layouts that maximise views across the Parramatta River and city skyline. Interiors feature engineered timber flooring, stone benchtops, stainless steel appliances and floor-to-ceiling glazing, while generous balconies extend the living spaces outdoors.</p>

<p>Marchese Partners says the project was conceived to balance high-quality apartment living with practical, long-term functionality, pairing larger, efficient floorplans with amenities more commonly associated with five-star hotels.</p>

<p>That emphasis continues through the resident facilities, which include a 20-metre rooftop swimming pool, fully equipped gym and wellness spaces, full-time concierge, a residents' lounge, function room, private lifts, secure basement parking and rooftop communal areas overlooking the Parramatta River. Ground-floor boardwalk retail and dining further activate the riverfront and integrate the building into the surrounding public realm.</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=925]</p>

<p>Australian housing and finance group Equitifund has secured the remaining apartments, believing there are few completed apartment opportunities in Parramatta that offer the same combination of location, amenity and pricing.</p>

<p>Equitifund National Sales Director Ben Hamblett says buyers are increasingly recognising that premium apartment living no longer needs to come with Sydney CBD pricing.</p>

<p>"The Lennox is where aspirational living becomes attainable," Hamblett said.</p>

<p>"Wake to river and mountain views, step into Sydney's Second CBD, and arrive home to resort-calibre amenities, all without the harbour price tag."</p>

<p>Hamblett says owner-occupiers are also attracted by the convenience of having Westfield Parramatta, Church Street's dining precinct, Parramatta Park, Riverside Theatres, Western Sydney University and major transport connections all within walking distance.</p>

<p>"At The Lennox, lifestyle is not an afterthought, it is the foundation."</p>

<p>[smartcode_project:default project_id=5743 project_image_fid=5374]</p>

<p>The Lennox places residents within walking distance of Parramatta Square, Westfield Parramatta, Church Street Eat Street, Parramatta Station, the ferry wharf, Light Rail, the future Sydney Metro West, Parramatta Park and CommBank Stadium, reinforcing Parramatta's position as one of Australia's most connected metropolitan centres outside Sydney's CBD.</p>

<p>Equitifund says buyers visiting the display suite consistently comment on the quality of the finishes, generous floorplans, river and skyline views, and the walkability of the location. The project has attracted a broad mix of local professionals, upsizers, downsizers, buyers relocating from Sydney's inner suburbs and interstate investors seeking long-term growth opportunities.</p>

<p>That demand aligns with Parramatta's continued evolution as an economic powerhouse. Equitifund Research and Market Insights specialist John Bekiaris says sustained population growth, infrastructure investment and expanding employment opportunities continue to support long-term housing demand across the city.</p>

<p>"Parramatta has evolved from a satellite city into one of Australia's most important economic centres. Population growth, infrastructure investment and employment are all supporting sustained long-term housing demand."</p>

<p>[smartcode_project_cta:default project_id=5743]</p>


The apartment price gap drawing Sydney buyers west

<p>A luxury beachfront apartment at Rainbow Bay has more than doubled in value since it sold off the plan six years ago, setting a new local apartment record in the process.</p>

<p>The three-bedroom apartment in the Flow development on Petrie Street, the first of four new projects locally by Paul Gedoun's S&amp;S Projects, has sold for $7.4 million, after originally selling for $3.27 million when the project launched in 2020.</p>

<p>The seventh-floor apartment, comprising 187 sqm of internal living space and a 54 sqm balcony overlooking Froggies Beach and Snapper Rocks, was purchased by a local family.</p>

<p>The transaction was negotiated by Pezet Matheson director Kerry Pezet and equates to more than $30,000 per sqm.</p>

<p>Pezet said the sale reflected the limited opportunities to buy into the boutique beachfront development.</p>

<p>"The sale highlights the rarity of opportunities within the boutique beachfront development, where residences seldom become available," Pezet said.</p>

<p>"Flow is one of the Gold Coast's most tightly held buildings. Buyers from our database move quickly when residences become available, and achieving an off-market sale at $7.4 million demonstrates the depth of demand for property of this calibre."</p>

<p><img alt="Flow" data-entity-type="file" data-entity-uuid="c585b206-2130-4eee-a50c-3f27c51a7c70" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-07-06%20at%208.33.25%E2%80%AFPM.png?VersionId=m3pHRDV62Y3fvN.XQuQHq.52ilTWpRLf" /></p>

<p>Flow was the first of four luxury apartment developments delivered by Paul Gedoun's S&amp;S Projects at Rainbow Bay and was completed in 2023.</p>

<p>Positioned on the beachfront overlooking Snapper Rocks, the residence includes three bedrooms, three bathrooms, a powder room and views stretching north along the coastline towards Surfers Paradise.</p>

<p>Pezet Matheson Residential principal Mitchell Lambert said buyers continued to prioritise quality beachfront apartments in tightly held locations.</p>

<p>"Flow Residences offers a rare combination of elevated beachfront positioning, architectural excellence, comprehensive resident amenity and premium finishes, which is exactly what discerning purchasers are seeking," Lambert said.</p>

<p>"The transaction further reinforces Rainbow Bay's reputation as one of Australia's premier coastal lifestyle destinations, where limited supply and growing demand continue to support strong market performance."</p>

<p>Pezet Matheson originally marketed and sold out Flow off the plan, making the latest transaction a return to one of the project's original buyers.</p>

<p>Paul Gedoun is selling his third project, <a href="https://www.apartments.com.au/new-apartments/radia-rainbow-bay-271-boundary-street-coolangatta-qld-4225">Radia Rainbow Bay</a>, after recently completing, and selling out, <a href="https://www.apartments.com.au/buildings/esprit-217-227-boundary-street-coolangatta-qld-4225">Esprit</a>. He has plans for a <a href="https://www.apartments.com.au/news/qld/first-look-s-s-projects-proposes-88-apartment-wellness-tower-at-coolangattas-boundary-street">fourth building</a>, 88 apartments on <a href="https://www.apartments.com.au/new-apartments/209-213-boundary-street-coolangatta-qld-4225">Boundary Street</a>.</p>


Rainbow Bay apartment doubles in price since off the plan sale during pandemic

Statistics

<html><body>
<div><strong><span style="text-decoration: underline;">Statistics fatigue</span></strong></div>
<div> </div>
<div>I've been suffering from quite heavily from a case of DSF recently - Demographic Statistics Fatigue.</div>
<div> </div>
<div>After putting the data series on hold for months, the statistics bureau has been releasing monthly data in rapid-fire succession in recent weeks. </div>
<div> </div>
<div>A bit like London buses, you wait seemingly ages for one to come along, and then...</div>
<div> </div>
<div>Anyway, we're nearly up to speed now with the May 2015 <a href="https://www.abs.gov.au/AUSSTATS/abs@.nsf/Lookup/3401.0Main+Features1May%202015?OpenDocument" target="_blank">Overseas Arrivals and Departures</a> figures having been released.</div>
<div>
<br>Rather than re-cap on old ground too much, I'll just make four short observations here, starting with...</div>
<div> </div>
<div><strong><span style="text-decoration: underline;">1 - Migration slowing</span></strong></div>
<div>
<br>Firstly, net overseas migration on a rolling annual basis has continued to slow through 2015. </div>
<div> </div>
<div>With the economy moving through something of a sticky patch, population growth in Australia slowed from a massive 396,200 in calendar year 2013 to a somewhat more sedate 330,200 in 2014.</div>
<div> </div>
<div>The latest figures suggest that net overseas migration into Australia will be slower again in 2015.</div>
<p><a href="https://4.bp.blogspot.com/-P2laFJ2BRIQ/VbCdbx7Jo9I/AAAAAAAAXHc/vimFTm3OtTQ/s1600/A1.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><a href="https://4.bp.blogspot.com/-P2laFJ2BRIQ/VbCdbx7Jo9I/AAAAAAAAXHc/vimFTm3OtTQ/s1600/A1.jpg"><img src="https://4.bp.blogspot.com/-P2laFJ2BRIQ/VbCdbx7Jo9I/AAAAAAAAXHc/vimFTm3OtTQ/s640/A1.jpg" width="640" height="286"></a></div>
<p> </p>
<div>While property observers in particular seem to love to see rampant headcount growth at any cost, the reduced population growth rate of 1.4 per cent that we have seen through 2014 has had one major benefit in particular.</div>
<div> </div>
<div>And that benefit is that over past year the economy has been stacking on new jobs faster - much faster - than the rate of population growth - with an employment growth rate of 1.9 per cent, or just shy of 225,000 new jobs.</div>
<div> </div>
<div>Indeed, since October alone the economy has added more than 205,000 new jobs, which in turn has seen the rate of total employment growth over recent months romping along at nearly <strong><em>twice </em></strong>the rate of the growth in population.</div>
<div> </div>
<div>Perhaps unsurprisingly, therefore, the unemployment rate has fallen from 6.3% at the beginning of the year to 6.0 per cent.<br><br>
</div>
<div>The latest Reserve Bank Board Meeting Minutes suggested that we may even see the unemployment rate falling further from this point, thereby contradicting earlier forecasts which had expected unemployment to run up to a peak of 6.5% in this cycle.</div>
<div> </div>
<div>And long may this particular dynamic continue.</div>
<div> </div>
<div>You can read more about employment growth and where it is (and isn't) taking place in Australia here. </div>
<p><br><strong><span style="text-decoration: underline;">2 - Rebalancing underway</span></strong></p>
<div> </div>
<div>The Australian dollar has now declined from a mining-boom-inspired peak of around 110 US cents to below 74 cents.</div>
<div> </div>
<div>It seems likely that the Aussie dollar will need to fall further too, in order to help the rebalancing of the economy.</div>
<div> </div>
<div>This depreciation of the currency will have a major impact on demographic trends.</div>
<div> </div>
<div>In short, fewer and fewer Aussies will be inclined to travel and holiday overseas, while more and more folk from foreign fields will see Australia as an attractive destination for a visit.</div>
<div> </div>
<div>Indeed, this enormous benefit to the tourism services industry is already well underway.</div>
<div>
<br>While it may sound like jargon, the ratio of short term departures to short term arrivals has declined to its lowest level in years. </div>
<div> </div>
<div>In plain English, more tourists are now coming to Oz, and fewer Aussies are taking overseas trips.</div>
<p><a href="https://3.bp.blogspot.com/-amAhvKUtOUs/VbChJ_9a81I/AAAAAAAAXIE/iIONagTCWqc/s1600/a6.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><a href="https://3.bp.blogspot.com/-amAhvKUtOUs/VbChJ_9a81I/AAAAAAAAXIE/iIONagTCWqc/s1600/a6.jpg"><img src="https://3.bp.blogspot.com/-amAhvKUtOUs/VbChJ_9a81I/AAAAAAAAXIE/iIONagTCWqc/s640/a6.jpg" width="640" height="278"></a></div>
<p> </p>
<div>Looked at another way, the number of short term arrivals into Australia has blazed well past 7 million for the first time on record.</div>
<div> </div>
<div>And while the tide has only turned slowly to date, fewer Aussies are now electing to take overseas trips. </div>
<div> </div>
<div>The two lines representing these trends on the chart will meet again, possibly sooner than we think, and in time Australia will once again see a net inflow of short term demographic movements.</div>
<div> </div>
<div><a href="https://3.bp.blogspot.com/-ZLJHtYv4c5A/VbCdb5AdEcI/AAAAAAAAXHw/CXxv0GdI6RA/s1600/a2.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div class="separator"><a href="https://3.bp.blogspot.com/-ZLJHtYv4c5A/VbCdb5AdEcI/AAAAAAAAXHw/CXxv0GdI6RA/s1600/a2.jpg"><img src="https://3.bp.blogspot.com/-ZLJHtYv4c5A/VbCdb5AdEcI/AAAAAAAAXHw/CXxv0GdI6RA/s640/a2.jpg" width="640" height="284"></a></div>
<p><br><strong><span style="text-decoration: underline;">3 - Chinese...and Kiwi visitors!</span></strong></p>
<div>The most notable of all demographic trends has been the incredible explosion in Chinese visitors to Australia, an obvious precursor to what lies ahead in terms of permanent migration.</div>
<div> </div>
<div>Over the last year there have been 1.25 million visitors from China, Hong Kong and Taiwan, and the latest data suggests that these extraordinary figures are set to accelerate plenty higher still in due course.</div>
<p><a href="https://2.bp.blogspot.com/-pgaRYzF4V4o/VbCdbz-kJqI/AAAAAAAAXHY/QczN1Dsy7Rk/s1600/a3.jpg" target="_blank">Click to enlarge</a></p>
<div class="separator"><a href="https://2.bp.blogspot.com/-pgaRYzF4V4o/VbCdbz-kJqI/AAAAAAAAXHY/QczN1Dsy7Rk/s1600/a3.jpg"><img src="https://2.bp.blogspot.com/-pgaRYzF4V4o/VbCdbz-kJqI/AAAAAAAAXHY/QczN1Dsy7Rk/s640/a3.jpg" width="640" height="280"></a></div>
<p> </p>
<div>Chinese migrants are settling in Australia too, with 18,550 settlers in the year to May - essentially as high a figure as we have seen to date - while there were also a record 19,930 settlers hailing from India over the same 12 month period.</div>
<div>
<br>Watch this space, as these numbers are growing apace.</div>
<p><span>Indeed, the number of settlers hailing from Asia is now overwhelming compared to the numbers from all other continents - outnumbering European migrants by a ratio of five to one, for example.</span></p>
<p><span style="line-height: 1.3em;">Much has been made of the rapidly diminishing numbers of settlers from Oceania (essentially New Zealand), with permanent migrants effectively having halved since 2012. </span></p>
<div>There are also ever fewer Britons emigrating to Australia at present as the UK economy has become an "incredible job-creating machine" over the past few years.<br><br>
</div>
<div>For all that, it's worth noting that there were well over 1.25 million short-term arrivals from New Zealand over the past year - a record high - so it's hardly all one way traffic, bro.<br><br>
</div>
<div><a href="https://2.bp.blogspot.com/-j2_ZEM-cr5A/VbCddFNBaPI/AAAAAAAAXHs/qZZIxA2adOA/s1600/a5.jpg" target="_blank">Click to enlarge</a></div>
<p><a href="https://2.bp.blogspot.com/-j2_ZEM-cr5A/VbCddFNBaPI/AAAAAAAAXHs/qZZIxA2adOA/s1600/a5.jpg"><img src="https://2.bp.blogspot.com/-j2_ZEM-cr5A/VbCddFNBaPI/AAAAAAAAXHs/qZZIxA2adOA/s640/a5.jpg" width="640" height="280"></a><br><br></p>
<div>At the same time there were also a record 567,100 American visitors enjoying the turnaround in exchange rate in Australia over the past year...the delayed Oprah effect.</div>
<p><strong><span style="text-decoration: underline;">4 - Record foreign students</span></strong></p>
<p><span style="line-height: 1.3em;">Recent data from Reserve Bank of Australia (RBA) liaison projects a huge ramp up in the number of foreign students in Australia over the years ahead, one of Australia's fast-growing "export" industries.</span><span style="line-height: 1.3em;"> </span></p>
<div>In fact, this is already happening, with Chinese students playing a major role here too. </div>
<div> </div>
<div>The first quarter of 2015 witnessed record enrolments of foreign students in Australia.</div>
<p><a href="https://2.bp.blogspot.com/-_yQJnV4-_2c/VbCdcgG3JfI/AAAAAAAAXHk/HTPWS2Z482s/s1600/a4.jpg" target="_blank"> Click to enlarge</a></p>
<div class="separator"><a href="https://2.bp.blogspot.com/-_yQJnV4-_2c/VbCdcgG3JfI/AAAAAAAAXHk/HTPWS2Z482s/s1600/a4.jpg"><img src="https://2.bp.blogspot.com/-_yQJnV4-_2c/VbCdcgG3JfI/AAAAAAAAXHk/HTPWS2Z482s/s640/a4.jpg" width="640" height="280"></a></div>
<div class="separator"> </div>
<div class="separator"> </div>
<div class="separator">The RBA data also confirmed that most foreign students are overwhelmingly bound for Sydney and Melbourne.</div>
<div class="separator"> </div>
<div class="separator"><strong><span style="text-decoration: underline;">The wrap</span></strong></div>
<div class="separator"> </div>
<div class="separator">The main themes here are that we can expect population growth in 2015 again to be slower than it has been in recent years.</div>
<div class="separator"> </div>
<div class="separator">This slowdon has clearly had a positive effect on the unemployment rate to date, and it is hoped that if the economy continues to add jobs at the pace it has been since October the unemployment rate may fall into a range with a "5 handle".</div>
<div class="separator"> </div>
<div class="separator">The other obvious theme here which stands out is the sheer dominance of migration from Asia, a story which is only set to grow in Australia over the decades ahead.</div>
<div class="separator"> </div>
<div class="separator">The role of Chinese investment in Australia in particular is set to be very material over the next five years.</div>
<div class="separator">
<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>
</div>
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pwargent-M4siyDbqQY

Foreign student numbers and other demographic property investor trends: Pete Wargent

<html><body>
<p>As far back as 2015, there was a discernible shift in buyer sentiment throughout Melbourne's apartment market.</p>

<p>Articles over the course of 2015 <a href="/news/is-melbournes-apartment-boom-concentrated-in-the-inner-city">here</a>, <a href="/news/buyer-sentiment-what-the-market-is-telling-us">here</a> and <a href="/news/bellers-andrew-fawell-on-the-spring-property-market-and-prevailing-trends">here</a> from a variety of industry voices, combined with Apartments.com.au's accumulation of Project Database information confirmed that an increasing number of Melbourne apartment buyers favoured middle ring suburbs over the traditional CBD, Docklands and Southbank trio.</p>

<p>Industry consultancy Urbis <a href="/news/urbis-quantifies-the-apartment-shift-to-melbournes-middle-and-outer-suburbs">underlined this trend during 2017</a>, quantifying the increased push of apartments into Melbourne's middle and outer ring suburbs. This went hand in hand with investor grade apartment stock ceding to owner-occupied projects.</p>

<p>Now Urbis’ latest Apartment Essentials report for the December quarter 2017 once again confirms the continuing trend, albeit in a softer apartment market. Urbis assert that although new apartment project launches have further stagnated, the new sales rate has increased.</p>

<p>Urbis formulated its findings based upon 47 off the plan projects sampled in the December 2017 quarter, amounting to 9,692 apartments, in addition to keeping tabs on the status of 177 actively selling projects around Melbourne.</p>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/image96_3.jpg" rel="gallery-all" title="Kokoda Property Group's The Mowbray is representative of in demand apartment living"><img alt="" class="image-article-full-width-580px" height="363" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/image96_3.jpg?itok=wvfp0bC8" title="Kokoda Property Group's The Mowbray is representative of in demand apartment living" width="580"></a>

<figcaption>Kokoda Property Group's The Mowbray is representative of in demand apartment living</figcaption></figure><p>Urbis research shows that an expected slowdown in the third quarter of 2017 - due to stamp duty changes - did eventuate, although sales activity increased in the fourth quarter to near equivalent levels in the corresponding 2016 period.</p>

<p>Of the 47 surveyed projects selected from inner and middle Melbourne, 70% of projects managed to sell 70% or more of their available stock. </p>

<p>Existing stock was moved relatively easily due to the restricted release of new apartment projects across Melbourne. Urbis note that four new projects amounting to 1,828 apartments launched in inner Melbourne during the December quarter, which in terms of total apartment numbers comfortably outpaced the previous quarter.</p>

<h2>Bedroom breakdown</h2>

<p>Unsurprisingly two-bedroom, two-bathroom apartments were the most popular product type in the December 2017 according to Urbis, accounting for 47% of sales. Single bedroom apartments with a car park were next in line, accumulating 23% of sales in the quarter.</p>

<blockquote>
<p> Both of these product types increased from the previous quarter, with fewer two-bedroom, one-bathroom and one-bedroom, zero car park apartments transacting compared to the previous quarter.</p>

<p>Two-bedroom, two-bathroom apartments were the most popular product type in the Inner East, Inner South, Inner West and middle-ring precincts. However, the Inner North precinct recorded a majority of one-bedroom apartments with a car park and the Central precinct recorded the majority of sales of one-bedroom apartments without a car park.</p>
</blockquote>

<figure><a class="colorbox colorbox-insert-image" href="https://res.cloudinary.com/dz9xllyip/image/fetch/q_auto:good/https://s3-ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/pictures/article-images/meilleur_malvern.jpg" rel="gallery-all" title="Millieur Malvern's apartment formats target owner occupiers"><img alt="" class="image-article-full-width-580px" height="266" src="/sites/urban.melbourne/files/styles/article_full_width_580px/public/pictures/article-images/meilleur_malvern.jpg?itok=z6zjKB_d" title="Millieur Malvern's apartment formats target owner occupiers" width="580"></a>

<figcaption>Millieur Malvern's apartment formats target owner occupiers</figcaption></figure><h2>Apartments.com.au analysis</h2>

<p>There are currently 306 apartment projects noted as being at registrations or sales within the Apartments.com.au Project Database.</p>

<p>The trend in recent years has seen a greater number of developers gravitate to Stonnington and Boroondara above all other municipalities, where demand for quality owner-occupier stock as at its greatest. Suburbs such as Hawthorn, Kew, Malvern, Glen Iris and Toorak are all sporting a relatively high number of apartment projects available for purchase.</p>

<p>The overall Stonnington and Boroondara number of projects which are at sales but yet to reach construction stands at 55.</p>

<p>Comparatively Yarra, Moreland and Port Phillip and Moonee Valley combined have 59 apartment projects at sales.</p>

<h2>Urbis Melbourne Apartment Essentials Q4 2017 snapshot</h2>

<ul>
<li>Urbis assessed sales from 47 off the plan projects comprising a total dwelling stock of 9,692 apartments</li>
	<li>In 159 monitored selling projects in Inner Melbourne, over 16,000 apartments are in Presales (48%) and a further 35% have commenced construction.</li>
	<li>Urbis recorded 344 off the plan sales in the December 2017 quarter. Of these, 54% were in the Inner Melbourne area, while 46% were recorded in Melbourne’s middle ring.</li>
	<li>Within Inner Melbourne, 48% of sales were recorded in the Inner North Precinct, followed by the Central Precinct (21% sales), Inner East (18% of sales), Inner West (11% sales) and Inner South (2% sales).</li>
	<li>The weighted average sales price for the December 2017 quarter was $692,592 for the Inner Melbourne precincts and $588,114 for the middle ring.</li>
	<li>Two-bedroom, two-bathroom product accounted for 47% of total sales across Inner and Middle Melbourne, and 40% of total sales in Inner Melbourne (compared to 27% in the previous quarter). One-bedroom apartments across Inner and Middle Melbourne accounted for 35% of total sales, though this quarter a larger majority contained a car park.</li>
	<li>Four new projects amounting to 1,828 apartments launched in Inner Melbourne this quarter, compared to five new projects amounting to 1,119 units in the previous quarter.</li>
</ul>
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silvermb

Urbis affirms Melbourne's affinity with the middle ring

<html><body>
<p>The correct answer to that question is: it's complicated.</p>

<p>On one hand if you look solely at the number of dwellings in developments, they are very much concentrated in the City of Melbourne + Fishermans Bend Renewal Area and the traditional high-density areas of inner Melbourne: Cities of Yarra, Stonnington and Port Phillip.</p>

<p>On the other hand if you are looking at the number of individual projects, regardless of the number of dwellings contained with in them, then the balance shifts. The centre of the city plus the traditional high-density areas of inner Melbourne make up 53% of all development projects within the Apartments.com.au project database, with the balance spread throughout what we deem to be the 'emerging' high-density areas of Melbourne and all other outer Local Government Areas.</p>

<p>Let's explain.</p>

<p>At the time of writing there are 805 projects listed in the project database and they can be broken into predominant use:</p>

<table border="1" cellpadding="1" cellspacing="1" style="width: 100%;">
<thead><tr>
<th class="rtecenter" scope="col">Use</th>
			<th class="rtecenter" scope="col">Number of Projects</th>
		</tr></thead>
<tbody>
<tr>
<td class="rtecenter">Residential</td>
			<td class="rtecenter">724</td>
		</tr>
<tr>
<td class="rtecenter">Mixed Use*</td>
			<td class="rtecenter">49</td>
		</tr>
<tr>
<td class="rtecenter">Commercial</td>
			<td class="rtecenter">28</td>
		</tr>
<tr>
<td class="rtecenter">Hotel</td>
			<td class="rtecenter">4</td>
		</tr>
</tbody>
</table>
<p>* Mixed use buildings are where there is substantial other uses, for instance a residential tower with hotel suites or service apartments. Residential regularly feature retail or food outlet space but the primary tower levels are of a single use and therefore recorded as Residential.</p>

<p>If we exclude the commercial an hotel-only buildings we're left with 773 buildings which feature, or will feature, dwellings for sale depending on how far the project progresses through the development cycle.</p>

<h2>The traditional high-density areas</h2>

<p>Next we have dwelling count data for the majority of residential / mixed-use projects and that totals 91,568 for the entire metropolitan area. This is for projects that are either at Planning Assessment, Approved, at Sales or Under Construction. We can break the City of Melbourne plus the three LGAs which are traditionally high-density areas of Melbourne down geographically as follows:</p>

<table border="1" cellpadding="1" cellspacing="1" style="width: 100%;">
<thead><tr>
<th class="rtecenter" scope="col">Local Government Area / Precinct</th>
			<th class="rtecenter" scope="col">Number of Projects</th>
			<th class="rtecenter" scope="col">Number of Dwellings</th>
		</tr></thead>
<tbody>
<tr>
<td class="rtecenter">Melbourne + Fishermans Bend Urban renewal area</td>
			<td class="rtecenter">194</td>
			<td class="rtecenter">42,585</td>
		</tr>
<tr>
<td class="rtecenter">Yarra</td>
			<td class="rtecenter">84</td>
			<td class="rtecenter">6,154</td>
		</tr>
<tr>
<td class="rtecenter">Stonnington</td>
			<td class="rtecenter">74</td>
			<td class="rtecenter">5,667</td>
		</tr>
<tr>
<td class="rtecenter">Port Phillip (excluding Fishermans Bend)</td>
			<td class="rtecenter">56</td>
			<td class="rtecenter">4,443</td>
		</tr>
<tr>
<td class="rtecenter"><strong>Total</strong></td>
			<td class="rtecenter"><strong>408 (53% of metro)</strong></td>
			<td class="rtecenter"><strong>58,849 (64% of metro)</strong></td>
		</tr>
</tbody>
</table>
<p>There is little doubt that Central Melbourne is seeing the lion's share of medium and high density development, especially when it comes to purely looking at the number of dwellings. Those four local governments are generally located with a 5km radius of Melbourne's GPO (with the exception of Stonnington: it does stretch much further east, but as most of its development activity is concentrated in the western half within the 5km radius I've included it in the above table).</p>

<h2>The emerging high-density areas and hotspots</h2>

<p>Next we have the 'emerging' high-density areas. They're characterised with existing population densities with roughly 4,000 people square kilometre or less located beyond the inner 5km radius of the GPO.</p>

<table border="1" cellpadding="1" cellspacing="1" style="width: 100%;">
<thead><tr>
<th class="rtecenter" scope="col">Local Government Area</th>
			<th class="rtecenter" scope="col">Number of Projects</th>
			<th class="rtecenter" scope="col">Number of Dwellings</th>
		</tr></thead>
<tbody>
<tr>
<td class="rtecenter">Maribyrnong</td>
			<td class="rtecenter">30</td>
			<td class="rtecenter">6,006</td>
		</tr>
<tr>
<td class="rtecenter">Moreland</td>
			<td class="rtecenter">52</td>
			<td class="rtecenter">4,702</td>
		</tr>
<tr>
<td class="rtecenter">Darebin</td>
			<td class="rtecenter">41</td>
			<td class="rtecenter">3,382</td>
		</tr>
<tr>
<td class="rtecenter">Manningham</td>
			<td class="rtecenter">24</td>
			<td class="rtecenter">2,998</td>
		</tr>
<tr>
<td class="rtecenter">Whitehorse</td>
			<td class="rtecenter">32</td>
			<td class="rtecenter">2,617</td>
		</tr>
<tr>
<td class="rtecenter">Boroondara</td>
			<td class="rtecenter">39</td>
			<td class="rtecenter">2,305</td>
		</tr>
<tr>
<td class="rtecenter">Moonee Valley</td>
			<td class="rtecenter">29</td>
			<td class="rtecenter">2,111</td>
		</tr>
<tr>
<td class="rtecenter"><strong>Total</strong></td>
			<td class="rtecenter"><strong>247 (32% of metro)</strong></td>
			<td class="rtecenter"><strong>24,121 (26% of metro)</strong></td>
		</tr>
</tbody>
</table>
<p>The main conclusion I draw from the numbers in the emerging areas is that Melbourne's north and immediate west are the biggest development hotspots outside the inner-city, away from where the majority of people currently live in metropolitan Melbourne. The arc from Maribyrnong to Darebin has just as much development in the pipeline as Yarra, Stonnington and Port Phillip (excluding Fishermans Bend) combined.</p>

<p>While Whitehorse is very much an established middle-ring suburban area, the urban-friendly infrastructure - high-frequency rail and a solid connecting bus network - puts the LGA firmly in the emerging area which might over time pip Manningham for clubhouse leader in the eastern suburbs.</p>

<h2>The remainder</h2>

<p>118 projects and 9,798 medium and high-density dwellings is nothing to sneeze at; just ask cities like Adelaide or Canberra.</p>

<p>Greater Dandenong with just under 10% of the near-on 10,000 dwellings in the development pipeline can only increase from here given it is now either entirely surrounded by suburban areas or green belts.</p>

<h2>Conclusion</h2>

<p>It's tempting to say yes, Melbourne's apartment boom is concentrated in the inner city, but as the data shows it depends on the primary metric in use when attempting to draw a conclusion and it also depends on what your definition of the inner city is.</p>

<p>A final thing to take away from the data tables listed above is that while many of the LGAs in the emerging list straddle the inner-city and middle ring of suburbs, there is an enormous pipeline of development work contained in these areas.</p>

<p>Yes, the inner-city is a beast of a thing but it would be idiotic to completely ignore what's hapenning beyond 5km from the GPO; these areas are richest when it comes to existing residential amenity, services and infrastructure, and they're the areas which have multiple structure plan reviews underway and have likewise undergone planning zone reform.</p>
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