<p>Perth’s new apartment market recorded its strongest quarter of sales since Q4 2021, with 412 apartments sold in Q1 2026 and a record quarterly sold value of $537 million, according to Urbis’ latest Apartment Essentials results.</p>

<p>Urbis said the March quarter result reflects strong, highly product‑specific demand across both ends of the market, from more attainable projects delivering at scale, through to premium stock being absorbed by equity‑rich downsizers.&nbsp;</p>

<p>David Cresp, Partner at Urbis, said the key story in Perth is not demand, it is the market’s ability to convert demand into delivered housing.&nbsp;</p>

<p>“This is the strongest sales quarter since Q4 2021, and it reinforces that demand in Perth is real and it’s local,” David Cresp said. “But the task now is delivery, turning that demand into projects that can actually be built and completed.”&nbsp;</p>

<p>[smartcode_project:default project_id=110291 project_image_fid=302785]</p>

<h2>Affordable product leads, premium demand remains resilient</h2>

<p>Sales in Q1 were led by more affordable projects, with The Boulevard (SKS Group) recording 115 sales in the quarter, the presentation noting this is only the second time a single project has surpassed 100 quarterly sales. The project was able to offer more affordable housing product right next to a train station.&nbsp;</p>

<p>Palmyra West (Finbar) also delivered strong results with 28 sales in Q1, following 84 sales in Q4, with an average price of under $800,000, underscoring depth of demand for well‑located, attainable new stock.&nbsp;</p>

<p>At the premium end, Urbis said downsizer demand is continuing, with the results highlighting Romeo (Applecross, Finbar) recording 75 sales and reaching almost 50% sold in one quarter.</p>

<p>Jual (Shenton Park, Celsius Property) also posted a strong quarter with 28 sales, reaching 39% sold in one quarter.</p>

<p>Urbis noted that Perth apartment demand is not speculative, not investor‑led, and not uniform, describing it as localised, often equity‑driven and highly product‑specific, a pattern reflected in the polarisation between strong “attainable” performers and premium downsizer product.&nbsp;</p>

<p>[smartcode_project:default project_id=148957 project_image_fid=364102]</p>

<h2>Prices underpinned by costs, and the delivery risk is growing</h2>

<p>Urbis said pricing pressure is cost not demand‑driven: construction costs and delivery risk are now a central constraint, with the results noting build costs remain elevated and volatile, and that energy, fuel and labour uncertainty weigh on feasibility.</p>

<p>David Cresp said a growing challenge for private Build‑to‑Sell developers is simply securing a builder in the current environment.</p>

<p>“Developers are really feeling the pressure from a building market that was operating at capacity and securing a builder is challenging,” David Cresp said, adding that even where a builder can be secured, “trying to get to the price that makes the development financially viable is incredibly challenging in the current market.”&nbsp;</p>

<p>Urbis’ broader WA commentary also notes that industry remains at or above capacity with lot and housing creation, and that many builders are limiting new sales to manage stretched workforces and fixed‑price contract pressures, conditions that flow directly into apartment feasibility and delivery timing.</p>

<p>[smartcode_project:default project_id=108869 project_image_fid=317905]</p>

<h2>Supply: improving later, but still constrained, and Perth lags eastern benchmarks</h2>

<p>While near‑term supply remains constrained, Urbis’ forecast shows completions lifting “Supply is forecast to be back above 1,500 apartments per annum for the first time since 2019”, with 1,775 completions forecast for 2026, and volumes remaining above that level over the following years.&nbsp;</p>

<p>Looking further ahead, completions are forecast to reach 2,500 in 2028, with the report noting 32% of that total is social/affordable, reflecting the role of government‑supported delivery in rebuilding the pipeline.&nbsp;</p>

<p>However, Urbis said Perth remains behind comparable markets on pipeline scale. In a national comparison of projects under construction, the report shows under construction Perth Build‑to‑Sell (BTS) at 3,446 apartments versus the Gold Coast at 7,922. Mr Cresp said “The challenge for Perth is how to we grow the delivery pipeline”.</p>

<p>Urbis’ conclusion is that Perth’s market is increasingly defined by product discipline and delivery certainty, with the research identifying “delivery certainty is key” and calling out builder risk and procurement models as core success factors, alongside “timing and staging”.&nbsp;</p>


Joel Robinson

Perth apartment sales hit strongest pace since late 2021 as builder capacity tightens

<p><a href="https://www.apartments.com.au/developers/sammut-developments">Sammut Group</a> has secured development approval for its latest Brisbane apartment project, marking the Sydney developer’s next step in expanding its Queensland pipeline following the success of its debut Gold Coast development, Coast.</p>

<p>The approved project at <a href="https://www.apartments.com.au/new-apartments/44-glen-road-toowong-qld-4066">44 Glen Road, </a><a href="https://www.apartments.com.au/developments/toowong-qld-4066">Toowong</a> will deliver a 15-storey riverfront apartment building with 42 residences, significantly increasing the scale of the site’s previous approval for a smaller luxury scheme. Designed by Bureau^proberts, the development will comprise a mix of predominantly four-bedroom and two-bedroom apartments positioned to maximise Brisbane River and city views.</p>

<p>Sammut Director Julian Sammut said the group had been actively searching Brisbane for several years before identifying Toowong as the right fit.</p>

<p>“Brisbane was the right step for Sammut,” Sammut said.</p>

<p>“With the success of Coast we thought we should definitely look to do more in Queensland alone. We then pushed up to look at Brisbane. We've been looking for I'd say two to three years actually and it was hard to find the right location.”</p>

<p><img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/f_auto,c_limit,w_1440,q_75/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/field/image/Screenshot%202025-12-23%20at%203.27.14%E2%80%AFPM.png?VersionId=dYAVIL7qdcGA8ojvkslSrLjczXFejSSx" /></p>

<p>Sammut said suburbs including New Farm and Teneriffe were considered before the group ultimately focused on Toowong due to its strong downsizer demographic and limited supply of developable riverfront land.</p>

<p>The site was acquired off-market after what Sammut described as a lengthy negotiation and planning process, with the developer pursuing an uplift to the original approval.</p>

<p>“We are DA approved now which is very exciting,” Sammut said.</p>

<p>“We've had our change approval come through and we've obviously doubled the height, 15 storeys plus rooftop. We've got 42 amazing apartments that are going to be coming to market soon.”</p>

<p><img alt="Sammut makes Brisbane apartment play" data-entity-type="" data-entity-uuid="" src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,dpr_2.0,q_auto:good/https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202025-12-23%20at%203.27.26%E2%80%AFPM.png?VersionId=ohkRkY0dIZlqdfME2EZePsCQavRiBadE" /></p>

<p>Bureau^proberts said the design responds to Toowong’s evolving urban character, balancing contemporary apartment living with the area’s established residential identity.</p>

<p>“A place where traditional Queensland living has taken place for centuries; Toowong is seeing a shift of contemporary influence, commercial and retail hubs mixed with well-considered residential offerings – all the while maintaining its character and charm,” the architect noted in planning documents submitted to Brisbane City Council.</p>

<p>The architecture practice said the project’s form was shaped by its riverfront setting, flood considerations, neighbouring building scales, and view corridors.</p>

<p>“They said the mix of four and two-bedroom apartments capture the ‘fundamental qualities of Queenslander living,’ translated into the context of a contemporary subtropical building.”</p>

<p>The development sits just off Coronation Drive within walking distance of Toowong’s retail precinct and the upgraded Regatta ferry terminal, while also benefiting from proximity to the incoming green bridge connection to West End. Sammut said the accessibility and amenity offering were central to the site’s appeal.</p>

<p>The approval adds to growing residential activity along the Toowong riverfront, joining nearby projects including Consolidated Properties’ Monarch Residences and Spyre Group’s ARC Residences.</p>


Sammut secures approval for debut Brisbane apartment development in Toowong

<p>Developer Lanevick is heading back into Sydney’s apartment market after focusing more heavily on the luxury townhouse and terrace sector in recent years.</p>

<p>Lanevick, founded and directed by Steve Maroun, is expecting to receive approval in the coming months for a new apartment development in Gladesville, with the aim to launch it to the market later this year.</p>

<p>The 51-apartment project, designed by Studio Johnston, will comprise a mix of one-, two-, and three-bedroom apartments positioned toward the Hunters Hill downsizer market.</p>

<p>“Traditionally it’s been difficult for people in that market to downsize because there just hasn’t been the right product available,” Maroun said.</p>

<p>“We’re targeting buyers who might have 30 to 40 per cent of their house value sitting in the bank after downsizing.</p>

<p>“They still want good spacious entertaining areas, they still want quality design, but they also want flexibility and the ability to enjoy life a bit more after working hard for a long time.”</p>

<p>The project sits near Boronia Park and within close proximity to the Parramatta River foreshore, an area Maroun says offers more of a Hunters Hill lifestyle than a traditional apartment precinct.</p>

<p>“From a lifestyle perspective, it’s really more Hunters Hill than Gladesville,” Maroun said. “You’re close to the foreshore, close to parklands, and still connected back into the village precinct.”</p>

<p>From level four and above, apartments will capture water views&nbsp;toward Sydney Harbour. Communal amenity will include rooftop entertaining areas, wellness spaces, and a gym tailored toward owner-occupier buyers.</p>

<p>“We’ve really designed these apartments around that buyer coming from the Hunters Hill LGA and what they’re actually looking for in their next chapter.”</p>

<p>The proposed development has also been designed to respond to the changing character of the broader Gladesville town centre, where a growing number of mixed-use and residential proposals are expected to emerge over the coming years.</p>

<p>“Gladesville presented a rare opportunity to deliver a genuinely design-led residential project within an evolving lifestyle precinct, just moments from the growing Gladesville town centre, and we’ve approached the project with a strong focus on architecture, liveability and long-term community value,” Maroun said.</p>

<p>Maroun said Lanevick saw a first-mover advantage within the precinct as planning controls continue to evolve to accommodate greater housing density.</p>

<p>“We think there’s a real opportunity there that hasn’t really been serviced properly yet,” he said.</p>

<p>“There’s going to be a broader evolution of the whole Gladesville village precinct over time, particularly with more activation and mixed-use outcomes.”</p>

<p>The Venus Street proposal will include a commercial and retail component at ground level designed to contribute to that evolving streetscape activation.</p>

<p>“A big part of the thinking was how do you activate that area properly and create more vibrancy and amenity, which is what Hunters Hill has been looking for,” Maroun said.</p>

<p>Lanevick’s focus since 2020 has largely been on smaller-scale luxury townhouse and terrace developments. The developer recently completed Royale Randwick, also designed by Studio Johnston, where prices reached $3.65 million. The project was featured in the UDIA NSW 2026 Professional Development Prospectus and was also named a finalist for Development of the Year.</p>

<p>&nbsp;</p>


Lanevick to cater for Hunters Hill downsizers with new Gladesville apartment development

<p>Property developer One Living, backed by former Macquarie banker turned investment manager Chris Green’s investment firm, has unveiled plans to bring more institutional capital into housing to help address the national supply crisis.</p>

<p>The New York-based investor has focused his firm, GreenPoint Partners, on addressing the supply shortage hitting middle market housing in Australia.</p>

<p>It is backing the new One Living business to develop more than 1000 units along the eastern seaboard. The new firm is starting with a development on Mona Vale Road, on the border of Mona Vale and Pymble, in Sydney’s Northern Beaches, with around 140 apartments planned. They are eyeing off more sites across the city.</p>

<p>With cost pressures rising in the industry, One Living’s model is to be a vertically integrated developer-builder, so it can respond directly to the housing gap by removing the cost inefficiencies embedded in traditional residential delivery.</p>

<p>“We are building a platform designed to operate at scale and starting in a market where there’s a clear need for quality, attainable housing,” One Living joint managing director Joseph Scuderi said.</p>

<p>“It’s that missing middle – it’s that attainable end of housing… that’s what most Australians invest into and what Australians can actually afford.”</p>

<p><img alt="Mona Vale" data-entity-type="file" data-entity-uuid="798dfa93-4941-4db6-a696-31e9dc18e81c" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.31.50%E2%80%AFPM.png?VersionId=mKBqi5C_DmeiXS.AtJkcR8LQIxqCqmFi" /></p>

<p>GreenPoint Partners brings years of experience assembling and scaling real estate operating businesses across major markets. And Green sees a big opportunity in Australia.</p>

<p>“For its size, sophistication and importance to the community, Australia’s living sector has remained largely under-institutionalised, which represents significant opportunity,” Green said. “GreenPoint identified that gap, assembled the right team, and is backing One Living to build a platform that is aligned to market needs.”</p>

<p>Green said being a builder-developer would give the company the capacity and flexibility it required to deliver reasonably-priced homes.</p>

<p>“We want it to be at that attainable level; not super high end luxury but at that attainable level,” he said.</p>

<p><img alt="Mona Vale" data-entity-type="file" data-entity-uuid="74a5344a-4b26-4d4a-ada3-056b1220be77" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-05-28%20at%202.32.15%E2%80%AFPM.png?VersionId=vY8hXHO4reBMdO8ZXMWCNtGZJofUPQ3j" /></p>

<p>&nbsp;</p>

<p>One Living will undertake a component of affordable housing in its schemes, which it will own and operate, and it could also run build-to-rent on some sites.</p>

<p>Green praised local policy settings.</p>

<p>“The NSW government is being very supportive, strategic and pragmatic in terms of how do we generate more supply of housing,” he said. “We think it’s actually positive for development and the bit that’s been lacking at that attainable level is that it’s lots of relatively small private developers, whereas we want to create an institutional platform.”</p>

<p>One Living is also&nbsp;looking at high-density projects and could take on more institutional funding in the future.</p>

<p>“The way we will be able to achieve economies of scale is through size,” Green added.</p>


One Living enters Sydney's new apartment market with Northern Beaches site acquisition

<p>It's been several years since there's been an opportunity to buy a brand new townhome in Melbourne's coastal suburb of Mordialloc. Even apartment developments in recent times have been few and far between in the area.</p>

<p>Local developer LDS Property identified the gap in new housing, securing a site on White Street, directly opposite&nbsp;Woodlands Golf Club Mordialloc. They've recently launched&nbsp;<a href="https://www.apartments.com.au/new-townhouses/wm-residences-mordialloc-102-white-street-mordialloc-vic-3195">WM Residences</a>, just 13 townhouses which they have already started building.</p>

<p>Projects by Buxton Director Heath Thompson, who is selling WM Residences, says the townhouses x that perfect middle ground be</p>

<p data-end="683" data-start="511">"Mordialloc residents have had limited options to downsize within the suburb, often forcing them to look elsewhere despite long-standing ties to the area," Thompson says.</p>

<p data-end="882" data-start="690">"With very little comparable new supply coming to market, projects like WM Residences are well placed, particularly as buyers look to capitalise on current conditions amid constrained supply."</p>

<p data-end="882" data-start="690">[smartcode_project:default project_id=134646 project_image_fid=6109]</p>

<p>The development, designed by regarded architecture firm&nbsp;<a href="https://www.apartments.com.au/architects/ewert-leaf">Ewert Leaf</a>,&nbsp;adopts a deliberately restrained architectural approach, focusing on simplicity, durability and liveability rather than overt design gestures.</p>

<p>The boutique scale is central to the offering. With only 13 three-bedroom residences, each home is configured to prioritise functional layouts and everyday use, supported by private terraces and secure two-car garages.</p>

<p>Ewert Leaf’s design response leans into a calm, neutral material palette. Interiors are defined by oak flooring, white walls and soft finishes, creating a consistent and understated backdrop. The approach avoids trend-driven detailing in favour of longevity, with an emphasis on natural light and spatial clarity.</p>

<p>[smartcode_project:default project_id=134646 project_image_fid=6110]</p>

<p>Beyond aesthetics, the homes are designed to meet contemporary performance expectations. Each residence targets a minimum 6-star energy rating, incorporating double glazing, comprehensive insulation and all-electric Bosch appliances.</p>

<p>The project’s location supports a walkable coastal lifestyle, sitting within close proximity to Mordialloc’s foreshore, Main Street retail strip and the train station. Local cafés and dining venues, including Suburbia Deli and Hendriks Café, are within a short walk, reinforcing the area’s established neighbourhood character.</p>

<p>[smartcode_project:default project_id=134646 project_image_fid=6116]</p>

<p data-end="247" data-is-last-node="" data-is-only-node="" data-start="0">While <a href="https://www.apartments.com.au/developments/mordialloc-vic-3195">Mordialloc</a> is often defined by its beach and pier, the project taps into other areas of day to day living, offering easy access to local food, casual dining and transport, rather than positioning itself purely as a lifestyle retreat.</p>

<p>WM Residences reflects a continued trend across Melbourne’s coastal suburbs towards smaller-scale, design-led townhouse developments, particularly on infill sites where proximity to amenity is already established.</p>

<p>With construction commenced prior to its market entry, the project aligns with a growing preference among buyers for developments with visible progress and defined delivery timeframes.</p>

<p>[smartcode_project_cta:default project_id=134646]</p>


WM Residences fills gap in Mordialloc townhouse market

Tourism

<html><body>
<p>The federal government's latest tourism recovery package seems set to ignite investor and owner occupier purchasing interest in coastal Queensland property in coming months.</p>

<p>Between May and July, the federal government will subsidise the price of nearly 800,000 airline tickets as part of a $1.2 billion tourism package aimed at getting more Australians to spend big on domestic holidays.</p>

<p>A 50 per cent discount via taxpayer-subsidised airfares will be offered for flights to and from 13 regions that typically rely heavily on international visitors.</p>

<p>The 13 destinations include the Gold Coast, the Sunshine Coast, Cairns, and the Whitsundays region.</p>

<p>"This package will take more tourists to our hotels and cafes, taking tours and exploring our backyard," Prime Minister Scott Morrison suggested.</p>

<p>But the property industry have expectations the visitors will also spend up on property, and some will even sell up down south and stay in Queensland.</p>

<p>The destinations also include the Lasseter region which includes Uluru, Alice Springs, Launceston, Devonport, Burnie, Broome, Avalon, Merimbula and Kangaroo Island.</p>

<p>Last year during the height of the pandemic Ripehouse Advisory released its COVID-19 Australian Property Report warning property buyers and investors should avoid buying in locations highly dependent on travel and tourism. </p>

<p>Ripehouse Advisory estimated locations heavily exposed to tourism and travel had quickly experienced an average reduction in value of 2.5 per cent, and some have seen more than 10 per cent.</p>

<h2>Gold Coast Projects</h2>

<p>[smartcode_project:default project_id=22057]</p>

<p>[smartcode_project:default project_id=27575]</p>

<p>[smartcode_project:default project_id=6515]</p>

<p>[smartcode_project:default project_id=7840]</p>

<h2>Sunshine Coast Projects</h2>

<p>[smartcode_project:default project_id=13241]</p>

<p>[smartcode_project:default project_id=29119]</p>

<p>[smartcode_project:default project_id=22041]<br><br>
[smartcode_project:default project_id=29122]</p>
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The 13 destinations include the Gold Coast, the Sunshine Coast, Cairns, and the Whitsundays region

jchancellor

Half price airline tickets to boost property investor interest in coastal Queensland locations

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<p>A Singaporean tourism developer has snapped up a vacant site in Albany as Lots 1&amp;2 Frenchman Bay Road sold for $1,050,000 following a successful campaign.</p>

<p>The two combined lots were zoned for tourism use and offered a total 3.2594 ha site area, with Lot 1 occupying 1.8987 ha, and Lot 2 occupying 1.3607 ha.</p>

<p>The property was marketed and sold by Ray White Commercial (WA) Senior Property Advisor Brett Wilkins and Hotels, Tourism and Leisure Advisor Phil Zoiti.</p>

<p>“The land is unique in relation to its location and views and is close to a number of attractions including Whale World, the Salmon Holes, and the Torndirrup National Park. The site is currently vacant and has planning approval in place for development of 24 accommodation units - together with a caretaker’s residence and café,” Mr Wilkins said.</p>

<p>Mr Zoiti said, “Investment sentiment is positive for regional tourism assets - whether it be bricks and mortar or development sites - which is indicative of the market in 2019 and before the COVID-19 pandemic."</p>

<p>“Whilst there was a temporary setback with COVID-19 back in March 2020, we have seen a strengthening of the sector - especially in the accommodation and caravan park markets - in both visitor nights and spend. "</p>

<p>“Overall, enquiry levels for regional hotel and tourism assets has increased tenfold in the past six months with investors looking to buy in key tourism areas such as Kununurra, Broome, Carnarvon, Shark Bay/Denham, Kalbarri, Dongara, Bunbury, Margaret River/Busselton, Albany and Esperance,” he concluded.</p>
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The tourism developer snapped up a vacant site in Albany as Lots 1&2 Frenchman Bay Road sold for $1,050,000 following a successful Ray White campaign

urban.com.au

Singaporean developer purchases Albany tourism site for $1.05 million

<html><body>
<div>Net permanent and long term migration into Australia seems to be steadying, summimg +266,400 in the year to August, according to the latest ABS Overseas Arrivals and Departures figures. </div>
<p><a href="/images/2016/10/11/C2.jpg" target="_blank">Click to enlarge </a></p>
<div class="separator"><img src="/images/2016/10/11/C2.jpg" alt=""></div>
<div> </div>
<div>The number of permanent settlers per annum appears to be very gradually rising again, with 57.1 per cent of settlers hailing from Asia. </div>
<p><a href="/images/2016/10/11/C5.jpg" target="_blank">Click to enlarge</a></p>
<p><img src="/images/2016/10/11/C5.jpg" alt=""></p>
<div> </div>
<div>It feels as though annual population growth in 2016 will be tracking at around +1.3 per cent, or somewhere between +300,000 and +350,000. </div>
<div> </div>
<div>However, the composition of growth has changed very significantly since the peak of the mining investment boom in 2012, with Sydney and Melbourne accounting for a record and ever-greater share of the headcount growth. In aggregate, regional population growth has slowed. </div>
<div> </div>
<div><strong><span style="text-decoration: underline;">Chinese arrivals</span></strong></div>
<div> </div>
<div>More dramatically, total annual short term arrivals increased by a very strong +10.6 per cent over the year to August, to sit at a smidgen under 8 million.</div>
<div> </div>
<div>Outbound trips are still increasing too, but at a far less sprightly pace (in fact the pace of outbound growth is less than half of that of short term arrivals, meaning that a positive rebalancing continues). </div>
<p><a href="/images/2016/10/11/C3-1.jpg" target="_blank"> Click to enlarge</a></p>
<div class="separator"><img src="/images/2016/10/11/C3-1.jpg" alt=""></div>
<p>The annual number of Chinese arrivals continues to accelerate at an astonishing pace, increasing by +23.1 per cent over the past year to a new high of 1.18 million. </p>
<div>There are now more annual visitors from China and Hong Kong to Australia than there are from our more proximate neighbour New Zealand. </div>
<div> </div>
<div class="separator"><a href="/images/2016/10/11/C4.jpg" target="_blank">Click to enlarge</a></div>
<p><img src="/images/2016/10/11/C4.jpg" alt=""> </p>
<div>While many are short term arrivals <em>bona fide</em> tourists, a total of precisely 500,000 short term arrivals into Australia over the year to August were primarily for the purposes of education.</div>
<p><a href="/images/2016/10/11/C1.jpg" target="_blank">Click to enlarge</a><br><img src="/images/2016/10/11/C1.jpg" alt=""></p>
<div> </div>
<div>Higher education is hugely attractive for international students from Asia, since it comes with the lure of potential permanent residency, obviously a big drawcard. </div>
<div> </div>
<div>Note that there are now more than two years of water under the bridge since the higher education boom really teed off in earnest, meaning that over the next year or two there may is likely to be a very strong uplift in students being granted permanent residency (as indeed is forecast by the DIBP) or sundry visa types.</div>
<p><strong><span style="text-decoration: underline;">The wrap</span></strong></p>
<p>While permanent and long term migration to Australia seems to have levelled out, arguably the more significant trends are taking place beneath the surface. </p>
<div>There is plenty of noise in month-to-month figures, but simply following the trend in the number of monthly visitors from China shows a doubling from less than 50,000 per month in early 2012 to well over 100,000 per month in Q3 2016. </div>
<div> </div>
<div>In terms of the property sector, while it's true that that the incoming wave of Chinese capital most impacts new and off-the-plan properties, there are now so many permanent residents and citizens of Chinese heritage that the impacts have shifted into established property too. </div>
<div> </div>
<div>
<em>News</em> draws a tangible link between education arrivals and Chinese property buying activity, notably in inner Sydney suburbs such as Haymarket, Ultimo, Kensington, Surry Hills, Waterloo, and other parts of South Sydney, for example. </div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
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pwargent-M4siyDbqQY

Chinese visitors more than double in 4 years: Pete Wargent

<html><body>
<p><span>EXPERT OBSERVER</span></p>
<p><span>Australia's trade balance is now falling away.</span><br><br><span>In fact, it was already tailing away by the end of February.</span></p>
<div class="separator"><a href="https://1.bp.blogspot.com/-DOmhb_SA0jA/Xoxjg6jjTAI/AAAAAAAA1I4/z6XkdAsKbEEsekV4D5rPxPY-9iwwGHnwACNcBGAsYHQ/s1600/IT1.jpg"><img src="https://1.bp.blogspot.com/-DOmhb_SA0jA/Xoxjg6jjTAI/AAAAAAAA1I4/z6XkdAsKbEEsekV4D5rPxPY-9iwwGHnwACNcBGAsYHQ/s640/IT1.jpg" width="640" height="372" data-original-height="818" data-original-width="1402"></a></div>
<p><span style="font-size: 12.16px;">Coal exports were dropping away in the early months of 2020.</span></p>
<p> </p>
<p><a href="https://1.bp.blogspot.com/-xILeCnbw360/XoxjhNrg4gI/AAAAAAAA1I8/_YE1hMJWV5A8JbIEaqS5y5KyO7YFa1_oQCNcBGAsYHQ/s1600/IT2.jpg" style="font-size: 12.16px;"><img src="https://1.bp.blogspot.com/-xILeCnbw360/XoxjhNrg4gI/AAAAAAAA1I8/_YE1hMJWV5A8JbIEaqS5y5KyO7YFa1_oQCNcBGAsYHQ/s640/IT2.jpg" width="640" height="388" data-original-height="830" data-original-width="1369"></a></p>
<p><span>And commodity export values had rolled over.</span><br><a href="https://1.bp.blogspot.com/-XinURAg-fLg/XoxjhIC658I/AAAAAAAA1JA/7IOfS1zHzgcbMnLHiaYwpBlodZB4CfuOwCNcBGAsYHQ/s1600/IT3.jpg" style="font-size: 12.16px;"></a></p>
<p><a href="https://1.bp.blogspot.com/-XinURAg-fLg/XoxjhIC658I/AAAAAAAA1JA/7IOfS1zHzgcbMnLHiaYwpBlodZB4CfuOwCNcBGAsYHQ/s1600/IT3.jpg" style="font-size: 12.16px;"><img src="https://1.bp.blogspot.com/-XinURAg-fLg/XoxjhIC658I/AAAAAAAA1JA/7IOfS1zHzgcbMnLHiaYwpBlodZB4CfuOwCNcBGAsYHQ/s640/IT3.jpg" width="640" height="370" data-original-height="834" data-original-width="1441"></a></p>
<p><span>Worryingly, even in February services credits were hammered, as tourism began to dry up.</span></p>
<p><a href="https://1.bp.blogspot.com/-FpYKdHb0Tn4/Xoxjh8WkNAI/AAAAAAAA1JE/BLjF-zHbAN4U6BUBPBbalg5wG7WV-LYiwCNcBGAsYHQ/s1600/IT4.jpg" style="font-size: 12.16px;"><img src="https://1.bp.blogspot.com/-FpYKdHb0Tn4/Xoxjh8WkNAI/AAAAAAAA1JE/BLjF-zHbAN4U6BUBPBbalg5wG7WV-LYiwCNcBGAsYHQ/s640/IT4.jpg" width="640" height="390" data-original-height="832" data-original-width="1364"></a></p>
<div class="separator"> </div>
<div class="separator"><span style="font-size: 12.16px;">The Reserve Bank didn't sugar-coat anything in its Minutes today, predicting a sharp contraction in growth and a substantial rise in unemployment.</span></div>
<div> </div>
<div>The RBA noted that financial markets have been operating somewhat more effectively, partly thanks to central bank measures around the world, with a starburst of co-ordinated fiscal and monetary stimulus coming down the pipe. </div>
<div> </div>
<div>Borrowing costs for some new borrowers are declining, but note that these trends impact borrowers on a case by case basis, and in some respects lending standards and assessments have been tightening and becoming more conservative.</div>
<div> </div>
<div>
<strong>PETE WARGENT</strong><em> is the co-founder of AllenWargent property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank">blogger</a>.</em>
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Australia's trade balance is falling away: Pete Wargent

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<div>
<p><span>The significant depreciation of the Aussie dollar has encouraged a record 7.2 million short-term visitors to Australia over the past year.</span></p>
<p><span>But why are people coming?</span></p>
<p><span>The main reason is for holidays (3.24 million), and ever more so from China and its provinces.</span></p>
<p><span>Increasingly, though, folk are also coming to Australia to visit their friends, families and relatives, with more than 2 million people falling into this category.</span></p>
<p><span>The other huge growth area is for education, with a smashing 451,000 education arrivals in the past year, a massive annual increase of well over 17%.</span></p>
</div>
<div><a href="/images/2015/10/08/Arr.jpg" target="_blank">Click to enlarge</a></div>
<div> </div>
<div><img src="/images/2015/10/08/Arr.jpg" alt=""></div>
<div> </div>
<div>
<div>These figures suggest a boost for tourism economies such as the Gold Coast, Sunshine Coast and Tasmania, for example.</div>
<div> </div>
<div>The latest available government data shows that the boom in foreign students is overwhelmingly a capital city dynamic.</div>
<div> </div>
<div>
<p><span><em>PETE WARGENT is the co-founder of <a href="https://allenwargent.com/" target="_blank" rel="nofollow">AllenWargent</a> property buyers (London, Sydney) and a best-selling author and <a href="https://petewargent.blogspot.com/" target="_blank" rel="nofollow">blogger</a>.</em><br></span></p>
<p><em>His latest book is <a href="https://www.bigskypublishing.com.au/Books/General-Interest/Four-Green-Houses--and-a-Red-Hotel/1015/productview.aspx" target="_blank" rel="nofollow">Four Green Houses and a Red Hotel</a>.</em></p>
</div>
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Why are people coming Down Under? Pete Wargent

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<p>A new five-star resort in the tourism hotspot has been announced for Western Australia’s Margaret River region.</p>
<p>The Westin Margaret River Resort &amp; Spa is a joint development between Saracen Properties and Security Capital Australia.</p>
<p>CBRE Hotels and KWM acted as joint exclusive advisor to negotiate the Hotel Management Agreement with operator, Marriott International.</p>
<p>Located on the southern headland of Gnarabup Beach, the luxurious resort has been designed by architects, Christou Design Group.</p>
<p>The earmarked site has direct access to the famous Cape to Cape walking trail, nearby national forests, ancient caves and world-class surf breaks.</p>
<p>The resort will be positioned in the heart of the famous wine region, just 10km from the Margaret River town centre.  </p>
<p>CBRE’s Head of Capital Markets for Western Australia, Aaron Desange said the announcement was particularly welcomed in the current climate.</p>
<p>“The Westin Margaret River Resort &amp; Spa will be a major drawcard for the South West region and will further boost Margaret River’s presence on the international stage. More than 15 regional and international operators bid for this opportunity, which underlines the scarcity of five-star resort development opportunities in thriving regional Australian leisure markets,” he said</p>
<p>“Importantly, this announcement will increase the region’s luxury tourism appeal, which will help contribute to injecting much-needed revenue back into our state after particularly challenging economic times.”  </p>
<p>Scheduled to open in 2023, the Westin Margaret River Resort &amp; Spa, is expected to feature 120 guestrooms, three on-site dining venues, 400 square metres of meeting space, extensive leisure facilities, including a resort-style outdoor swimming pool, and day spa.</p>
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j.ballantyne1990-6AQqhLzZaK

New five-star resort announced for Margaret River region

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<p>EXPERT OBSERVER</p>
<p>When live auctions were banned due to the health crisis, the number of auctions dropped dramatically with a double hit coming from a broader drop in listing volumes.</p>
<p>Yesterday, there were 137 auctions scheduled in Sydney and 110 scheduled in Melbourne, representing a significant drop compared to this time last year – and auction numbers were already very low due to the 2019 federal election.</p>
<p>While clearance rates only look at a very small portion of the market, the big spike in the New South Wales clearance rate last weekend to 77% is perhaps proof that buyer activity remains strong and that buyers are more comfortable buying in-person than online. This theory is also supported by increased levels of buyer enquiry and search activity on <a href="https://www.realestate.com.au/buy" target="_blank" rel="noopener noreferrer">realestate.com.au.</a></p>
<p>This weekend, the clearance rate hit 72% in New South Wales and 70% in Victoria.</p>
<p><strong>Restrictions on overseas travel could be a boon for domestic tourism</strong></p>
<p>Australians love overseas travel, spending more money overseas ($58.3 billion) in 2019 than foreign tourists spent in Australia ($44.6 billion).</p>
<p>With borders shut due to the COVID-19 pandemic, that $58.3 billion will stay in Australia and it’s likely a fair proportion of it will be spent on domestic travel. Once domestic travel is up and running again, we may even get close to the $80.7 billion spent on domestic overnight travel last year, or perhaps even exceed that figure.</p>
<p>Tourism Research Australia provides a high level of detail on where both domestic and overseas tourists like to travel. In every part of Australia, domestic tourists spend more than overseas tourists except in one location – Sydney.</p>
<p>If our travel patterns remain consistent, then the area that will benefit most from a domestic tourism boom will be Melbourne, followed by Sydney and Brisbane. The regional areas that will benefit include the northern coast of New South Wales, Gold Coast and Sunshine Coast.</p>
<p>Domestic tourism could surge on Queensland’s Sunshine Coast after COVID-19.</p>
<p>There is a lot of uncertainty about whether domestic travel patterns will remain consistent. Can Melbourne continue to offer the sporting and cultural events it is so famous for in this environment? Will some states continue to maintain border closures?</p>
<p>The rate of domestic tourism will also depend on marketing expenditure – big campaigns may get us all travelling to the outback, the Limestone Coast or the Fleurieu Peninsula.</p>
<p><strong>Banks are flush with cash but access to funding isn’t easy</strong></p>
<p>The one positive in this downturn is that we are not in a financial crisis. Our banks are well capitalised and, at this stage, are not weighed down by bad debt.</p>
<p>Nevertheless, according to mortgage brokering business Smartline, the banks are being very cautious and taking measures to:</p>
<p>1.Tighten lending policies including discounting of non-core income such as bonuses, casual income and overtime and;</p>
<p>2. Introduce more questions and forms to mitigate losses from people who have been impacted by COVID-19;</p>
<p>3. Meanwhile, Smaller lenders who are less able to weather the storm are being even more cautious – some have even lifted interest rates – and service levels are now varying greatly – those that have relied on off-shore lending operations seem far more heavily impacted. Insurers are also being much stricter.</p>
<p>While access to funding isn’t easy, it hasn’t dented demand for home loans and many people are looking to refinance to get a better deal. Total submissions for home loans through Smartline have increased 21% while settlements have increased by 8%.</p>
<p><strong>NERIDA CONISBEE</strong> <a href="https://www.realestate.com.au/news/author/nerida-conisbee/" target="_blank"><em>is the chief economist for the REA Group</em></a></p>
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Return of live auctions is great news for Australian property: REA's Nerida Conisbee

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<p class="legacy">GUEST OBSERVATION</p>
<p>Until a trans-Tasman travel bubble is <a href="https://www.propertyobserver.com.au/https://www.abc.net.au/news/2020-05-04/trans-tasman-bubble-coronavirus-what-might-happen-next/12212580" target="_blank">established</a>, there is little doubt the New Zealand tourism industry will <a href="https://www.rnz.co.nz/news/national/413845/covid-19-domestic-travellers-eyed-to-keep-tourism-sector-viable-after-lockdown" target="_blank">rely entirely</a> on domestic travel post-COVID-19.</p>
<p>Without underplaying the impact the pandemic will have on discretionary spending in both countries, however, there may be a silver lining to the crisis.</p>
<p>New Zealand is in the fortunate position of having an <a href="https://tia.org.nz/about-the-industry/quick-facts-and-figures/" target="_blank">already strong</a> domestic tourism sector. Domestic tourists spent NZ$23.7 billion annually (or NZ$65 million a day) pre-COVID-19, compared to a total spend of NZ$12.7 billion (or NZ$47 million a day) by international visitors. <a href="https://www.propertyobserver.com.au/https://openrepository.aut.ac.nz/handle/10292/11857" target="_blank">Research</a> pre-COVID-19 showed 65% of New Zealanders wanted to explore more of their country, a figure expected to increase.</p>
<p>True, New Zealanders generally don’t have the deep pockets international tourists have. Their higher overall spend is a reflection of their numbers, not their bank balances. But with the big ticket tourist attractions now missing the bigger spenders, the market will rule.</p>
<p>Regional tourism organisations, attractions and operators may need to rethink their offerings and their pricing. While tramping the <a href="https://www.doc.govt.nz/parks-and-recreation/things-to-do/walking-and-tramping/great-walks/" target="_blank">great walks</a> may be perfectly affordable for a family of four, taking the family on a whale watch, a bungy jump or a cruise on Milford Sound may not be – especially as parts of one big holiday. Indeed, it has been found that <a href="https://www.propertyobserver.com.au/https://openrepository.aut.ac.nz/handle/10292/11857" target="_blank">price</a> is the major decision-making factor for 30% of New Zealanders when it comes to holidays.</p>
<p>So this is also an opportunity to give New Zealanders back a piece of the summer pie – not only for the COVID-19 recovery but in the longer term. Summers have tended to be characterised by a large influx of international tourists, with Kiwis settling for shoulder seasons (and unfavourable weather) to tramp the famous tracks when they are <a href="https://www.stuff.co.nz/environment/99088942/tourists-outnumber-new-zealanders-on-the-great-walks--and-the-gaps-growing" target="_blank">less crowded</a>.</p>
<p><img src="https://images.theconversation.com/files/331898/original/file-20200501-42929-8lze50.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></p>
<p><span class="caption">Attractions such as the famous Shotover Jet near Queenstown may have to adjust costs to suit Kiwi pockets.</span> <span class="attribution"><span class="source">www.shutterstock.com</span></span></p>
<p>But domestic tourists who have grown accustomed to off-peak holidays away from high-cost destinations will soon tip the scales. Now is the time for operators to win back their hearts.</p>
<p>With New Zealand’s gradual easing of its strict lockdown (possibly to the stage of allowing non-essential travel by mid-May), tourism can clearly support the economic revival of local communities. The challenge is how to reinvent New Zealand tourism as an initially purely domestic industry.</p>
<p>Overall, only a handful of New Zealand destinations have depended entirely on international tourists. These also happen to be the places most heavily associated with overtourism in the past. Given that the <a href="https://www.tandfonline.com/doi/full/10.1080/14616688.2020.1759131" target="_blank">growth model</a> driven by short-term, dollars-first business thinking has led to an <a href="https://www.noted.co.nz/money/money-economy/nz-tourists-should-we-limit-number-visitors" target="_blank">unsustainable</a> tourism market, might this also be a chance to restore some equilibrium?</p>
<p>That will mean no more killing the goose that lays the <a href="https://www.pce.parliament.nz/publications/pristine-popular-imperilled-the-environmental-consequences-of-projected-tourism-growth" target="_blank">golden egg</a>. Some hotspots, such as the <a href="https://www.tongarirocrossing.org.nz/" target="_blank">Tongariro Alpine Crossing</a> and <a href="https://www.thecoromandel.com/activities/must-do/hot-water-beach/" target="_blank">Coromandel’s Hot Water Beach</a> may be managed by restricting visitor numbers.</p>
<p>Such strategies have long been in place in other places, such as the <a href="https://www.doc.govt.nz/parks-and-recreation/places-to-go/fiordland/places/fiordland-national-park/things-to-do/tracks/milford-track/" target="_blank">booking requirement</a> for the Milford Track. We have also seen tremendous problems associated with too many cruise ships in too small places. Akaroa is a prime example, and limiting both the number of visits and the size of vessels may be a feasible <a href="https://www.radionz.co.nz/audio/player?audio_id=2018685520" target="_blank">future strategy</a>.</p>
<p><img src="https://images.theconversation.com/files/331899/original/file-20200501-42929-1nm13fy.jpg?ixlib=rb-1.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" alt=""></p>
<p><span class="caption">A cruise liner arrives at tiny Akaroa in the South Island: limiting the number of visits to small centres has already been proposed.</span> <span class="attribution"><span class="source">www.shutterstock.com</span></span></p>
<p>As part of our own research (yet to be published) into the pressing issues of overtourism we conducted interviews with various tourism stakeholders around New Zealand, including city and regional councils, the Department of Conservation, residents and operators. This took place just before New Zealand’s strictest lockdown level was imposed, without any real foreknowledge of the eventual economic impact of COVID-19.</p>
<p>Nonetheless, our interviewees shared very similar sentiments when it came to how the industry can evolve sustainably only if New Zealanders themselves embrace the behaviours they expect (and sometimes demand) of foreign tourists. According to our subjects, too many Kiwis still hold on to a past when the country’s population was half its current size and SUVs and large motorhomes didn’t crowd the roads and parking lots.</p>
<p>Initiatives such as the <a href="https://tiakinewzealand.com/" target="_blank">Tiaki Promise</a>, which promote environmental and cultural sensitivity to tourists, have largely targeted international visitors. These now need to turn the lens inwards so that Kiwis become better ambassadors within their own backyard.</p>
<p>Kiwis love their country, but they will now need to truly discover what it has to offer, not only for a weekend of tramping or a quick getaway, but for their main summer holiday. And they will have to become better kaitiaki (or guardians) of their homeland in the process.</p>
<p>The absence of international tourists will be a huge challenge, but also an opportunity. If we get it right, when those foreign visitors are allowed to return (most likely at first from Australia) we will have found ways to grow – or limit – their numbers and their expectations so that our tourism industry can thrive as well as survive.<img src="https://counter.theconversation.com/content/137256/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important; text-shadow: none !important;"></p>
<p><span><a href="https://theconversation.com/profiles/sabrina-seeler-744896" target="_blank">Sabrina Seeler</a>, Postdoctoral Researcher, <em><a href="https://theconversation.com/institutions/nord-university-3607" target="_blank">Nord University</a></em> and <a href="https://theconversation.com/profiles/michael-lueck-804450" target="_blank">Michael Lueck</a>, Professor of Tourism, <em><a href="https://theconversation.com/institutions/auckland-university-of-technology-1137" target="_blank">Auckland University of Technology</a></em></span></p>
<p>This article is republished from <a href="https://theconversation.com" target="_blank">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/the-coronavirus-survival-challenge-for-nz-tourism-affordability-and-sustainability-137256" target="_blank">original article</a>.</p>
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The coronavirus survival challenge for NZ tourism: affordability and sustainability

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<p><span style="font-size: 12.16px;">Australia is projected to lose $25 billion in foreign spending as COVID-19 cripples tourism from outside of Australia, according to Finder.com.au.</span></p>
<p><span style="font-size: 12.16px;">In this month’s Finder RBA Cash Rate Survey™ – the largest of its kind in Australia – 42 experts and economists weighed in on future cash rate moves and other issues related to the state of the Australian economy. </span></p>
<p><span style="font-size: 12.16px;">The vast majority of experts (87%, 27/31) who weighed in on tourism, expect Australia’s borders to remain closed for the rest of the year, with only four respondents (13%, 4/31) indicating international travel restrictions would be lifted in 2020.</span></p>
<p><strong id="x_m_-4821919292617302644docs-internal-guid-dd5a3120-7fff-cf60-28f1-49d94bdf4397" style="font-family: 'proxima nova', 'helvetica nue', Helvetica, arial, sans-serif; font-size: 16px;"><img src="https://lh6.googleusercontent.com/ZdyacFGEAxiw86iiqygX2ck5EbsLNId8PHvfw-NrEyS91Ab3Gf3X9wctdwrMHIzmZ6YDNjhmgM5iySPAicizgnjLEcYqDMIoJuqVyEqlt6O5gET_Hx9U21Zl70bwtEdFrvI1Jzud" width="619" height="484" style="margin: 0px; padding: 0px; font: inherit; vertical-align: baseline; color: inherit; outline: none;" data-imagetype="External"></strong></p>
<p><span style="font-size: 12.16px;">In total, 13 believe the border will fully reopen in the first 6 months of 2021, while 12 think it will happen later in the year.</span></p>
<p><span style="font-size: 12.16px;">Graham Cooke, insights manager at Finder said there is a risk that the volume of international travellers won’t return for many years. </span></p>
<p><span style="font-size: 12.16px;">"Continuing restrictions are projected to result in millions of fewer tourists into 2021 and with it, billions in foregone spending.</span></p>
<p><span style="font-size: 12.16px;">“This is a problem for all corners of Australia, with 44 cents of every tourism dollar spent in regional destinations,” Cooke said.</span></p>
<p><span style="font-size: 12.16px;">Tourism directly employs 666,000 Australians making up 5% of Australia’s workforce, according to Tourism Australia.</span></p>
<p><span style="font-size: 12.16px;">Australia shut its borders to non-residents amid the coronavirus pandemic on March 20.</span></p>
<p><span style="font-size: 12.16px;">International tourists delivered $45.4 billion to the economy last year, Tourism Research Australia figures show. </span></p>
<p><span style="font-size: 12.16px;">Of that, $17.2 billion was spent by holidaymakers and $7.6 billion was spent by tourists visiting friends and relatives. Just over $13.3 billion was on education from visitors on a student visa. </span></p>
<p><span style="font-size: 12.16px;">Foreigners typically spend around $5,211 on Australian travel and tourism per trip. </span></p>
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