<p><a href="https://www.apartments.com.au/developers/ignite-projects">Ignite Projects</a> has appointed OBX as the builder for its boutique beachside development, <a>Retreat Palm Beach</a>, following an exceptional early sales run that has seen more than half the residences already secured.</p>

<p>The appointment marks an exciting new partnership between the two Gold Coast-based companies, bringing together shared values, local expertise and a commitment to exceptional project delivery.</p>

<p>Ignite Projects Director Josh Foote said OBX’s local expertise backed by a talented and experienced team, made them the ideal partner to bring <a href="https://www.apartments.com.au/new-apartments/retreat-palm-beach-188-jefferson-lane-palm-beach-qld-4221">Retreat Palm Beach</a> to life.</p>

<p>“We’ve been impressed by the depth of experience within the OBX team, and their commitment to quality, detail and delivery made them the natural choice for Retreat,” he said.</p>

<p>“Working with a builder we know and trust gives our buyers incredible confidence. OBX understands exactly what we want to achieve at Retreat, and we’re excited to create something truly special together.”</p>

<p>[smartcode_project:default project_id=134965 project_image_fid=1852]</p>

<p>Specialising in medium- to high-rise residential development, OBX has established a strong reputation for quality construction across the Gold Coast.</p>

<p>Director James O’Brien has more than 20 years' experience in tier one and tier two construction, including his former role as construction manager at Hutchinsons Builders, where he delivered landmark projects such as The Mondrian, Ignite’s own award-winning Cabana <a href="https://www.apartments.com.au/developments/palm-beach-qld-4221">Palm Beach</a> (one of the Gold Coast’s fastest-selling residential projects of 2021), and The Lanes.</p>

<p>He said he was proud to once again collaborate with Ignite on a premium coastal development.</p>

<p>“Our relationship with Ignite Projects has been built on transparency, shared standards and a mutual drive to deliver exceptional outcomes,” he said.</p>

<p>“Cabana set a high benchmark for boutique coastal living, and Retreat Palm Beach gives us the opportunity to elevate that standard even further. We’re looking forward to delivering a project that future residents will be proud to call home.”</p>

<p>[smartcode_project:default project_id=134965 project_image_fid=1851]</p>

<p>Designed by <a href="https://www.apartments.com.au/architects/plus-studio">Plus Architecture</a>, Retreat Palm Beach will offer a refined collection of residences that blend understated luxury with enduring craftsmanship.</p>

<p>Set on the prestigious beachside strip at 188 Jefferson Lane, Retreat Palm Beach represents a rare entry point into beachfront living and one of the last opportunities to live in a project of this scale in Palm Beach.</p>

<p>It will span nine levels and include a mix of 56 two and three-bedroom residences, most with butler’s pantries, private outdoor spaces and curated interior finishes. Prices range from $1.47 million to $3.95 million. A standout feature is the ground-floor communal wellness space, envisioned as a subterranean Mediterranean-style day spa, complete with a sculpted lagoon pool and floating day beds.</p>

<p>The builder appointment comes as Ignite Projects continues its strong growth trajectory, highlighted by the recent announcement of the group’s major new development on The Spit at Main Beach.&nbsp;</p>

<p>[smartcode_project:default project_id=134965 project_image_fid=1847]</p>

<p>The $100 million project will deliver 27 premium residential units, dining venues and a commercial marina with at least 18 berths overlooking Southport Yacht Club. Construction is due to begin early next year and represents one of the most significant development opportunities on The Spit in recent years.</p>

<p>Ignite Projects’ expanding portfolio and repeat-builder partnerships underscore the company’s commitment to delivering high-quality, design-led developments across the Gold Coast.</p>

<p>Onsite activity at Retreat is now progressing, with earthworks already underway and construction commencing in the new year.</p>

<p><a href="https://www.apartments.com.au/project-marketer/new-property-agent-qld-npa">NPA</a> CEO Andrew Erwin said the remarkable sales result was a clear vote of confidence in the enviable Jefferson Lane lifestyle.</p>

<p>“With over 50 per cent of apartments already sold, we are seeing strong demand from local owner-occupiers who are upgrading to be on the beachside of the highway and want the exclusivity, privacy and walkability that only Jefferson Lane can offer," he said.</p>

<p>“At the same time, we’re attracting a new wave of discerning ‘lifestyle investors’ who want the best of both worlds: a beautifully designed beachfront apartment they can enjoy for holidays, with the flexibility of short-term letting to generate income when they’re not using it. It’s a genuine win-win and a major reason Retreat has resonated so strongly.”</p>

<p>[smartcode_project_cta:default project_id=134965]</p>


Joel Robinson

Ignite Projects appoints OBX to build wellness-inspired Retreat Palm Beach apartments

<p>Mirvac has been announced as the preferred developer to work with the NSW Government on the redevelopment of the old Sydney Fish Market site, in a project delivery agreement with Infrastructure NSW (INSW).</p>

<p>The 3.6-hectare site is part of the wider Blackwattle Bay urban renewal and will be transformed into a vibrant mixed-useprecinct, comprising over 1,400 homes (which includes purpose-built student accommodation), and commercial and retail.</p>

<p><img alt="Mirvac" data-entity-type="file" data-entity-uuid="2bc4cfbf-3622-4976-9a0c-94e7d1ec5f65" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Mirvac%202.jpg?VersionId=oBHQZ76Ex7Ysi4UzXWc7lSARDxj.a754" /></p>

<p>Mirvac will also deliver a 26,000 sqm public domain, with an ambition to create an ‘outdoor living room’ for the<br />
community, along with a new public foreshore promenade and a boardwalk that will complete the 15-kilometre foreshore walk connecting Rozelle Bay to Woolloomooloo.</p>

<p>Announcing the agreement on site at Blackwattle Bay in Sydney on Tuesday with NSW Government, Mirvac’s Group CEO &amp; Managing Director, Campbell Hanan, said the company is "thrilled to deliver this project in partnership with Infrastructure NSW, where we will rejuvenate an iconic harbourside location."</p>

<p>“Blackwattle Bay is a significant urban renewal project and represents one of the last undeveloped parcels along the Sydney Harbour foreshore. Blackwattle Bay presents a fantastic opportunity for Mirvac to apply over 53 years of experience in delivering beautiful homes and significant public amenity, in a capital-efficient manner.”</p>

<p>Mirvac's will be partnering with Scape by The Living Company to&nbsp;deliver student accommodation within the precinct.</p>

<p>Mirvac’s CEO Development - Residential and Commercial Mixed Use, Stuart Penkils, said Mirvac has decades of experience in transforming undeveloped sites into vibrant precincts – from Walsh Bay in Sydney and Yarra’s Edge in Melbourne to Cutters Landing and Newstead in Brisbane.</p>

<p>"These are the sorts of projects where our integrated model comes to life and where we can leverage our in-house design, development and construction capability to deliver much needed housing supply, a key priority for government, and a new precinct that the whole community can enjoy.</p>

<p>“We’re committed to building on the trust and collaboration established through our nearby Harbourside redevelopment, and to working closely with Infrastructure NSW, the Department of Planning, Housing and Infrastructure, Transport for<br />
Sydney, the City of Sydney and the local community. Together, we want to shape a precinct that reflects shared aspirations, strengthened by genuine stakeholder input.”</p>

<p><img alt="Mirvac" data-entity-type="file" data-entity-uuid="cd9a88bf-8ccd-4d0a-b23e-85b5566febd7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Mirvac%203.jpg?VersionId=e.cAyExj7eBZqjGpXUbQhaYwuZZ39U5y" /></p>

<p>Infrastructure NSW’s CEO, Tom Gellibrand, said the project will offer places to live and work alongside spaces to walk, cycle and relax, reconnecting Pyrmont and Glebe with Sydney Harbour.</p>

<p>Blackwattle Bay is well-located, adjacent to the new Sydney Fish Market, which is scheduled to open in January next year, and a five-minute walk from the new Pyrmont Metro station, which is scheduled to open in 2032. Planned public open space includes a central pedestrianised lane, cycleways, a skatepark, community kayak storage and a community pavilion.</p>

<p>The project is also close to Mirvac’s multi-award-winning Harold Park project in Glebe, a significant renewal project that saw the delivery of around 1,300 apartments and the adaptive reuse of the heritage tram depot, integrated with 3.8 hectares of new public parkland.</p>

<p><img alt="Mirvac" data-entity-type="file" data-entity-uuid="75e43906-9e5b-43b2-ba3d-470a5d9d5198" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Mirvac%204.jpg?VersionId=5RD2grfduZlEe8fEdWREBtxknVxrO62k" /></p>

<p>In line with its sustainability ambition to decarbonise by 2030, Mirvac will target a net zero carbon precinct, which includes a 55 per cent reduction in embodied carbon. Mirvac will also partner with the Sydney Institute of Marine Sciences to undertake nature-based intervention to improve water quality, introduce circularity to reuse and reduce waste, and improve biodiversity on site with extensive native planting. Stories of Country, past streams and shorelines will be incorporated and celebrated throughout the precinct.</p>

<p>The project is expected to be delivered over multiple stages, with early works on site expected to commence in 2027, works on the housing component expected in 2028 , and completion expected in 2033. First settlements on the housing component are expected in 2030.</p>


Mirvac to develop over 1,400 new homes on former Sydney Fish Market site

<p data-end="277" data-start="127">Rose Bay is emerging as one of Sydney’s most active suburbs for development, as developers respond to demand driven by the suburb’s ageing population.</p>

<p data-end="516" data-start="279">More than 20 per cent of Rose Bay residents are aged 65 and over, according to the latest ABS census data. Combined with more favourable planning schemes introduced in recent years, new development activity in the suburb has accelerated.</p>

<p data-end="488" data-start="117">Fresh off the back of a $173 million sale of what was marketed as “one of the largest sites ever amalgamated so close to Rose Bay Village,” created by 12 homeowners joining forces to combine nearly 6,000 sqm bordering Wilberforce Avenue and Dover Road, more than $200 million worth of development applications <strong data-end="434" data-start="427">has</strong> been submitted in the suburb in the past month alone.</p>

<p data-end="932" data-start="490">Aligned with the Rose Bay Place Plan 2023–2028, which identifies Wilberforce Avenue as a strategic location for new housing in response to local demographic shifts, Lewin Capital has lodged plans for a new $40 million project, also on Wilberforce. The proposal seeks to deliver 32 apartments, a mix of sizes designed to cater to a broad demographic range, including downsizers and key workers, with both smaller and family-sized units on offer.</p>

<p><img alt="12 Wilberforce Avenue ROSE BAY NSW" data-entity-type="file" data-entity-uuid="e314fb24-2e53-4808-8411-d6e7c5fee2ea" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Plan%20-%20Photomontage%20-%20DA2025%20449%201%20-%2012-18%20Wilberforce%20Avenue%20ROSE%20BAY%20%281%29.JPG?VersionId=XX.AXChH4Kmv.kOB03suE8lenQ1NlqUe" /></p>

<p>Architecturally, the scheme adopts a measured approach to height and massing, stepping down at the rear to integrate with adjacent residential properties while forming a defined medium-density edge to the Rose Bay Centre.&nbsp;</p>

<p>“The proposed design for 12–18 Wilberforce Avenue, Rose Bay is a well-mannered apartment building in a mid-block position on a quiet street,” the Urban Design Report by <a href="https://www.apartments.com.au/architects/mhn-design-union">MHN Design Union</a> (MHNDU) states.&nbsp;</p>

<p>“It will form part of a new living environment in this highly desirable location.”</p>

<p>Builder-developer HSN Property Group is also bringing density to the same pocket, planning 54 two- and three-bedroom apartments that will also benefit from the recent Low and Mid-Rise Housing Reforms introduced under the NSW Housing SEPP. 14 of the apartments will be dedicated affordable under the SEPP in the $96 million proposal.</p>

<p>“The site’s location and context make it well suited to support a more diverse and sustainable residential offering in the area,” the developer stated in community consultation materials.</p>

<p><img alt="HSN" data-entity-type="file" data-entity-uuid="2976efc3-db69-4013-84ef-5acc05bc6f66" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-08%20at%201.14.27%E2%80%AFPM.png?VersionId=A35N4_u2HA7uc_eiLAQedcHdsY_L4ywL" /><br />
<em>The plans by HSN for 2-16 Spencer St, Rose Bay</em></p>

<p>The architecture, led by&nbsp;<a href="https://www.apartments.com.au/architects/mhn-design-union">MHNDU</a>, reflects a "contemporary design approach sensitive to the character of&nbsp;<a href="https://www.apartments.com.au/new-apartments/rose-bay-nsw-2029" target="">Rose Bay</a>." Communal amenities will include a wellness area with a pool and sauna, a gym, a wine lounge, and landscaped spaces with barbecue facilities.&nbsp;</p>

<p>Fyve Developments is breaking into the eastern suburbs for the first time with their $32 million new development in Rose Bay. They are planning 19 apartments on Dover Lane.</p>

<p>Designed by PBD, the new project will comprise four two-bed apartments and 15 three-bed units.</p>

<p><img alt="Fyve" data-entity-type="file" data-entity-uuid="91ec4820-1e05-4598-8d27-9df42234a52c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-08%20at%201.23.42%E2%80%AFPM.png?VersionId=VtH0oa48nJcvXGiXqjbHJvtYY6zWdIC7" /><br />
<em>Fyve's plans on Dover Lane.</em></p>

<p>Luxcon is also back in the suburb, having previously delivered The Aristocrat back in 2020. They have filed plans for 17 three-bedroom apartments on <a href="https://www.apartments.com.au/new-apartments/2-8-cooper-street-double-bay-nsw-2028">Cooper Street</a>.</p>

<p>Fortis wants to deliver <a href="https://www.apartments.com.au/new-apartments/23-31-dover-road-rose-bay-nsw-2029">49 apartments on Dover Road</a>, an $86 million development. That adds to their <a href="https://www.apartments.com.au/new-apartments/10-12-ian-street-rose-bay-nsw-2029">Ian St, Rose Bay development</a>, which they will likely launch next year.</p>


Rose Bay apartment market fires up with $200m in new developments filed

<p>Leading Sydney developer <a href="https://www.apartments.com.au/developers/deicorp">Deicorp</a> has recorded a strong market response at the launch of The Avenues, its $874 million East Zetland precinct.</p>

<p>On its recent launch they sold close to $18 million, predominantly to owner-occupiers, more specifically to families who wanted to be closer to kids and grandkids.</p>

<p>&nbsp;</p>

<p>Apartments sold ranged from $1.8 million to $1.97 million for two bedrooms, and $2.12 million to $2.62 million for three bedrooms.</p>

<p>[smartcode_project:default project_id=146262 project_image_fid=357150]</p>

<p>Located four kilometres from the CBD, <a href="https://www.apartments.com.au/new-apartments/the-avenues-zetland-130-joynton-avenue-zetland-nsw-2017">The Avenues</a> is transforming a 2.87-hectare site into a pedestrian-friendly urban neighbourhood comprising 574 residences across nine buildings designed by <a href="https://www.apartments.com.au/architects/candalepas-associates">Candalepas Associates</a> and <a href="https://www.apartments.com.au/architects/fk-australia">FK</a>.&nbsp;</p>

<p>Surrounded by tree-lined, walkable “avenues”, the precinct’s more than 800 sqm of ground-floor retail brings a lively, Paris-inspired streetscape to the heart of East <a href="https://www.apartments.com.au/developments/zetland-nsw-2017">Zetland</a> and will directly service nearby amenities and the surrounding residential community.<br />
&nbsp;<br />
The Avenues will also feature build-to-rent and purpose-built student housing in partnership with Scape, supporting key workers, students and long-term renters in this high-demand corridor.&nbsp;</p>

<p>[smartcode_project:default project_id=146262 project_image_fid=357154]</p>

<p>Deicorp will also contribute more than $16 million to open space improvements, including upgrades to Woolwash and Biyanbing Parks, with The Avenues designed to strengthen pedestrian connections to Green Square Station and Gunyama Park.&nbsp;</p>

<p>Deicorp Founder, Fouad Deiri OAM, said a clear trend was evident, with purchasers driven by proximity to family and lifestyle essentials.&nbsp;</p>

<p>“We’ve seen a clear trend of parents wanting to live close to adult children and students, as well as interstate and international buyers seeking to reconnect with family in Sydney’s inner south,"&nbsp;Deiri said.</p>

<p>“This early sales performance reflects the strength of East Zetland as a connected, high-amenity location and the appeal of homes designed with long-term liveability in mind. Many of these early-stage buyers are repeat Deicorp purchasers, too."</p>

<p>[smartcode_project:default project_id=146262 project_image_fid=357165]</p>

<p>Zetland is one of the top suburbs in Australia to experience an increase in housing density, with its population growing by 24 per cent in as little as three years to over 15,600 residents. According to REA, 197 units were available last month, with over 2300 buyers interested, demonstrating the strong demand for this inner southern pocket of Sydney.&nbsp;</p>

<p>Deicorp’s strong result at The Avenues follows significant spring momentum across its portfolio, with $63 million in combined sales recorded across recent launches for Showground Pavilions in Castle Hill and Falcon &amp; Alexander in Crows Nest.&nbsp;</p>

<p>Construction on The Avenues commenced in June, with the construction period expected to generate 2,700 jobs. Across its portfolio, Deicorp currently has 5,102 apartments under construction, playing a leading role in shaping connected, liveable communities across Sydney.&nbsp;</p>

<p>Its expanding portfolio of Metro-linked developments includes Tallawong Village, Kings Bay Village in Five Dock, Hyde Metropolitan, and Showground Village, all advancing the company’s long-term commitment to creating vibrant, transit-oriented neighbourhoods.&nbsp;</p>

<p>Apartments start from $955k for a one-bedroom, $1.48 million for a two-bedroom, and $2.04 million for a three-bedroom, all with car parking.</p>

<p>[smartcode_project_cta:default project_id=146262]</p>


Family proximity and connectivity fuel $18m in first-day sales at Deicorp’s East Zetland precinct, The Avenues

<p>Leading property developer <a href="https://www.apartments.com.au/developers/abadeen-group">Abadeen</a> has officially completed ENSO, its premium boutique residential development in Neutral Bay Village.</p>

<p>Designed by internationally acclaimed architect <a href="https://www.apartments.com.au/architects/koichi-takada-architects">Koichi Takada</a> and built by Credence Constructions, ENSO draws inspiration from the Japanese Buddhist philosophy of the same name, a symbol of elegance, strength and enlightenment.</p>

<p>Comprising of just nine one-, two-, and three-bedroom residences, with a full floor four-bedroom penthouse, <a href="https://www.apartments.com.au/buildings/enso-neutral-bay-34-grosvenor-street-neutral-bay-nsw-2090">ENSO</a> combines sculptural form and refined materiality with a minimalist design language that evokes calm, balance and timeless sophistication.</p>

<p>[smartcode_project:default project_id=109705 project_image_fid=355893]</p>

<p>With the occupation certificate now in hand, Abadeen will soon welcome the first residents into their new residences, perfectly timed for Christmas.</p>

<p>Positioned along Grosvenor Street, which has emerged as one of the North Shore’s most exciting dining and lifestyle destinations, ENSO residents will enjoy a true village experience surrounded by Sydney’s best food, retail and culture. Grosvenor Street is home to brand new restaurants including Bombay Bloomers, Pocket Pizza and Fujitori Yakitori &amp; Sake Bar.&nbsp;</p>

<p>Within a one-minute walk of ENSO, a new retail precinct is introducing a curated line up anchored by Dan Murphy’s, together with Bodylove Pilates and the award winning Wholegreen Bakery. Coles is also close by, adding everyday convenience just minutes from the CBD.</p>

<p>[smartcode_project:default project_id=109705 project_image_fid=355895]</p>

<p>“ENSO represents the next chapter in Neutral Bay’s evolution,” said Justin Brown, Executive Chairman and Founder of Abadeen.</p>

<p>“You have Koichi Takada’s architecture on one side of the street and a vibrant new village scene on the other. It is the meeting point of design, lifestyle and community. This project captures what we value on the Lower North Shore: sophistication with a genuine sense of convenience where people want to live.”</p>

<p>Each residence is crafted with premium finishes, generous floorplans and seamless indoor to outdoor living, embracing Takada’s philosophy of organic, nature inspired design. Interiors are composed of soft, neutral palettes and tactile materials that promote calm and connection.</p>

<p>“This is a proud milestone for Abadeen,” Brown added. “ENSO has been carefully designed and delivered, a true boutique project that reflects our ongoing commitment to elevating the architectural and lifestyle experience across Sydney’s Lower North Shore.”</p>

<p>With construction complete and final residences available, ENSO presents a rare opportunity to move into a brand-new home within an established, connected and increasingly vibrant village community.</p>

<p>[smartcode_project_cta:default project_id=109705]</p>


Staff Writer

Abadeen completes ENSO in the heart of Neutral Bay’s fast-evolving village precinct

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>
</body></html>

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